Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings -17.49 -5.08 -8.63 -13.45
Price to Sales 3.45 3.47 7.88 15.78
Book Value Per Common Share -2.28 -2.21 -1.57 -0.58
Price to Book -3.30 -2.71 -7.32 -23.87
Price to Operating Cash Flow -29.88 -12.10 -13.19 -17.45
Price to Free Cash Flow -29.25 -11.83 -13.08 -17.16
Enterprise Value to EBITDA 1224425.38
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-03-31
Price to Earnings 126.50 448.00 -108.57 -29.88 -29.79 -40.65
Price to Sales 10.01 11.49 10.77 13.43 11.28 22.86 60.45 94.78
Book Value Per Common Share -1.84 -2.01 -2.16 -2.28 -2.26 -2.31 -2.21 -1.74 -1.57 -0.88 -0.42
Price to Book -4.12 -4.46 -3.47 -3.30 -3.36 -2.20 -2.71 -4.80 -7.32 -18.37 -24.09
Price to Operating Cash Flow -56.95 190.95 -19.50 -33.10 -38.79 -29.62
Price to Free Cash Flow -56.65 191.92 -19.41 -32.98 -38.59 -29.56
Enterprise Value to EBITDA 494112.58 657098.83 638271.69 1346349.91

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY
Revenue YoY 36.00 22.37 72.31
EBITDA YoY
Net Profit YoY
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-03-31
Earning YoY 200.00
Revenue YoY -2.42 12.24 24.30 26.22 34.87 37.77 161.94
EBITDA YoY 12.98 16.43 110.25
Net Profit YoY 153.67 15790.63

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 1.55 2.03 2.29 2.83
Quick Ratio 2.49 2.99 4.51 5.18
Current Ratio 2.63 3.31 4.90 5.46
Debt to Equity -2.03 -2.13 -2.87 -6.50
Long-Term Debt to Equity -1.69 -1.81 -2.51 -5.53
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-03-31
Cash Per Common Share 1.02 1.24 1.41 1.54 1.60 1.64 1.90 2.12 2.27 2.41 1.38
Quick Ratio 1.60 1.99 2.78 2.49 2.62 3.33 2.99 5.26 4.51 5.96 2.60
Current Ratio 1.87 2.25 2.93 2.63 2.78 3.73 3.31 5.76 4.90 6.32 2.71
Debt to Equity -2.15 -2.08 -2.06 -2.03 -2.05 -1.98 -2.13 -2.55 -2.87 -4.21 -4.79
Long-Term Debt to Equity -1.66 -1.66 -1.75 -1.69 -1.72 -1.73 -1.81 -2.29 -2.51 -3.72 -3.44

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA -18.12 -43.82 -44.93 -31.30
ROE 18.68 49.73 83.88 172.04
Gross Margin 97.28 98.65 97.63 95.38
Operating Margin 2.57 -35.60 -53.65 -77.95
EBITDA Margin 2.84 -35.10 -53.12 -77.46
Net Profit Margin -19.72 -68.36 -91.25 -117.11
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-03-31
ROA 2.89 1.11 0.01 -2.86 -7.56 -10.46 -14.06 -22.60
ROE -3.33 -1.21 -0.01 2.99 7.43 16.25 45.18 85.73
Gross Margin 98.63 98.29 96.86 97.24 98.64 98.65 99.53 68.92
Operating Margin 19.94 17.18 16.66 9.72 -11.33 -36.74 -100.31
EBITDA Margin 20.29 17.52 16.89 9.99 -11.00 -36.15 -99.68
Net Profit Margin 8.09 3.11 0.02 -11.99 -38.14 -77.54 -148.62 -337.29

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Dividend Yield
Dividend Payout Ratio
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-03-31
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 490,420.00 516,960.00 550,000.00 588,151.00
   Current Assets 421,968.00 495,966.00 516,500.00 566,136.00
      Cash and Short-Term Investments 321,060.00 390,791.00 425,782.00 507,601.00
            Cash and Cash Equivalents 104,923.00 112,447.00 306,239.00 504,389.00
            Short-Term Investments 216,137.00 278,344.00 119,543.00 3,212.00
      Net Receivables 79,069.00 56,950.00 50,599.00 29,413.00
      Inventory 33,923.00 28,683.00 27,533.00 15,791.00
      Other Current Assets -12,084.00 19,542.00 12,586.00 13,331.00
   Non-Current Assets 68,452.00 20,994.00 33,500.00 22,015.00
      Property, Plant, Equipment Net 15,838.00 16,592.00 15,423.00 15,186.00
      Goodwill 0 0 0 0
      Intangible Assets 0 0 0 0
      Long-Term Investments 20,323.00 0 18,077.00 6,829.00
      Non-Current Deferred Assets 0 0 0 0
      Other Non-Current Assets 32,291.00 4,402.00 0.00 0.00
Liabilities 966,354.00 972,488.00 844,597.00 695,137.00
   Current Liabilities 160,384.00 149,988.00 105,514.00 103,718.00
      Payables and Expenses 124,936.00 123,775.00 101,921.00 73,847.00
            Account Payables 11,644.00 20,893.00 14,356.00 27,808.00
            Current Accrued Liabilities 113,292.00 102,882.00 87,565.00 38,991.00
      Short-Term Debt 2,772.00 2,648.00 2,369.00 1,819.00
      Other Current Liabilities 32,676.00 23,565.00 1,224.00 28,052.00
   Non-Current Liabilities 805,970.00 822,500.00 739,083.00 591,419.00
      Long-Term Debt 324,917.00 314,466.00 237,428.00 591,419.00
      Other Non-Current Liabilities 481,053.00 508,034.00 501,655.00 0.00
Equity -475,934.00 -455,528.00 -294,597.00 -106,986.00
   Shareholders Equity -475,934.00 -455,528.00 -294,597.00 -106,986.00
      Capital Stock 2,085.00 2,058.00 1,879.00 1,843.00
      Share Premium 1,291,100.00 1,222,236.00 1,158,118.00 1,098,498.00
      Retained Earnings -1,770,040.00 -1,681,159.00 -1,454,620.00 -1,207,504.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income 921.00 1,337.00 26.00 177.00
   Minority Interest 0 0 0 0
Investments 236,460.00 278,344.00 137,620.00 0
Debt 327,689.00 317,114.00 239,797.00 593,238.00
Net Debt 6,629.00 0 0 81,068.00
Common Shares Outstanding 208,543.00 205,771.00 187,906.00 184,350.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 450,712.00 331,412.00 270,827.00 157,170.00
Cost Of Revenue 12,269.00 4,481.00 6,408.00 7,264.00
Interest Income 0 0 0 62.00
Interest Expense 98,516.00 108,239.00 99,092.00 59,294.00
Non-Interest Expense 0 0 0 118,818.00
Gross Profit 438,443.00 326,931.00 264,419.00 149,906.00
Operating Expenses 440,986.00 430,640.00 412,854.00 327,626.00
   Selling, General and Administrative Expenses 266,132.00 213,894.00 159,371.00 118,818.00
   Research and Development Expenses 174,638.00 216,566.00 253,297.00 208,808.00
   Other Operating Expenses 216.00 180.00 186.00 0
Operating Income -2,543.00 -103,709.00 -148,435.00 -177,720.00
Net Non-Operating Income -84,411.00 -122,520.00 -95,948.00 0
EBT -86,954.00 -226,229.00 -244,383.00 -181,809.00
Income Tax 1,927.00 310.00 2,733.00 2,253.00
Net Income Including Non-Controlling Interests 0 0 0 -184,062.00
Net Income -88,881.00 -226,539.00 -247,116.00 -184,062.00
EBIT 11,562.00 -117,990.00 -145,291.00 -122,515.00
Deprecation and Amortization 1,246.00 1,655.00 1,437.00 777.00
EBITDA 12,808.00 -116,335.00 -143,854.00 -121,738.00
EPS -0.00 -0.00 -0.00 -0.00
Diluted EPS -0.00 -0.00 -0.00 -0.00
Average Shares Outstanding Basic 206,696.00 192,198.00 185,908.00 179,117.00
Average Shares Outstanding Diluted 206,696.00 192,198.00 185,908.00 179,117.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow -52,020.00 -95,141.00 -161,850.00 -142,157.00
   Operating Net Income -88,881.00 -226,539.00 -247,116.00 -184,062.00
   Deprecation and Amortization 1,246.00 1,655.00 1,437.00 777.00
   Deferred Income Tax -354.00 -682.00 0 0
   Share Based Compensation 65,413.00 55,615.00 44,701.00 34,640.00
   Change in Working Capital -87,282.00 -32,401.00 -58,945.00 8,124.00
   Other Operating Activities 57,838.00 107,211.00 98,073.00 -1,636.00
Investing Cash Flow 52,593.00 -131,498.00 -128,238.00 15,804.00
   Capital Expenditure -1,124.00 -2,168.00 -1,351.00 0
   Net Purchase/Sale of PPE -1,124.00 -2,168.00 -1,351.00 -2,385.00
   Net Purchase/Sale of Investments Net 53,717.00 -129,330.00 -126,887.00 18,189.00
   Net Purchase/Sale of Business 0 0 0 0
   Other Investing Activities 1,124.00 2,168.00 1,351.00 0.00
Financing Cash Flow -5,761.00 32,485.00 88,027.00 359,668.00
   Net Issuance/Repayment of Debt -1,704.00 298,835.00 73,072.00 293,874.00
   Net Issuance/Repurchase of Equity 0 0 14,955.00 50,060.00
   Dividends Paid 0 0 0 0
   Other Financing Activities -4,057.00 -266,350.00 0.00 15,734.00
Net Change in Cash -6,124.00 -193,792.00 -201,495.00 233,315.00
   Cash at Beginning of Period 112,447.00 306,239.00 507,734.00 274,348.00
   Cash at End of Period 106,323.00 112,447.00 306,239.00 507,734.00
Free Cash Flow -53,144.00 -97,309.00 -163,201.00 -144,542.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-03-31
Assets 446,424.00 457,188.00 480,047.00 490,420.00 491,254.00 467,892.00 516,960.00 509,737.00 550,000.00 527,720.00 284,431.00
   Current Assets 355,684.00 398,462.00 409,977.00 421,968.00 427,125.00 447,100.00 495,966.00 490,883.00 516,500.00 511,714.00 273,771.00
      Cash and Short-Term Investments 213,452.00 260,530.00 295,383.00 321,060.00 330,013.00 338,352.00 390,791.00 399,621.00 425,782.00 446,822.00 244,364.00
            Cash and Cash Equivalents 84,657.00 88,525.00 105,481.00 104,923.00 96,841.00 86,131.00 112,447.00 156,599.00 306,239.00 398,858.00 230,910.00
            Short-Term Investments 128,795.00 172,005.00 189,902.00 216,137.00 233,172.00 252,221.00 278,344.00 243,022.00 119,543.00 47,964.00 13,454.00
      Net Receivables 91,325.00 91,177.00 93,394.00 79,069.00 72,456.00 60,586.00 56,950.00 48,639.00 50,599.00 36,415.00 18,386.00
      Inventory 5,232.00 5,044.00 6,873.00 33,923.00 7,562.00 29,781.00 28,683.00 27,466.00 27,533.00 16,144.00 5,113.00
      Other Current Assets 45,675.00 41,711.00 14,327.00 -12,084.00 17,094.00 18,381.00 19,542.00 15,157.00 12,586.00 12,333.00 5,908.00
   Non-Current Assets 90,740.00 58,726.00 70,070.00 68,452.00 64,129.00 20,792.00 20,994.00 18,854.00 33,500.00 16,006.00 10,660.00
      Property, Plant, Equipment Net 16,121.00 16,373.00 15,484.00 15,838.00 7,421.00 16,695.00 16,592.00 15,422.00 15,423.00 8,799.00 7,035.00
      Goodwill 0 0 0 0 0 0 0 0 0 0 0
      Intangible Assets 0 0 0 0 0 0 0 0 0 0 0
      Long-Term Investments 39,669.00 10,101.00 20,548.00 20,323.00 19,426.00 0 0 3,432.00 18,077.00 0 0
      Non-Current Deferred Assets 0 0 0 0 0 0 0 0 0 0 0
      Other Non-Current Assets 34,950.00 32,252.00 34,038.00 32,291.00 37,282.00 4,097.00 4,402.00 0.00 0.00 7,207.00 3,625.00
Liabilities 834,313.00 878,782.00 931,974.00 966,354.00 959,817.00 944,059.00 972,488.00 838,024.00 844,597.00 691,935.00 359,419.00
   Current Liabilities 190,237.00 177,160.00 139,855.00 160,384.00 153,567.00 119,921.00 149,988.00 85,157.00 105,514.00 81,017.00 101,201.00
      Payables and Expenses 124,345.00 115,703.00 102,684.00 124,936.00 117,679.00 91,159.00 123,775.00 81,466.00 101,921.00 77,465.00 69,795.00
            Account Payables 5,567.00 8,589.00 10,049.00 11,644.00 13,482.00 11,910.00 20,893.00 6,254.00 14,356.00 13,881.00 37,076.00
            Current Accrued Liabilities 118,778.00 107,114.00 92,635.00 113,292.00 104,197.00 79,249.00 102,882.00 75,212.00 87,565.00 63,584.00 32,719.00
      Short-Term Debt 1,783.00 2,008.00 2,866.00 2,772.00 2,888.00 2,740.00 2,648.00 2,491.00 2,369.00 2,081.00 31,001.00
      Other Current Liabilities 64,109.00 59,449.00 34,305.00 32,676.00 33,000.00 26,022.00 23,565.00 1,200.00 1,224.00 1,471.00 405.00
   Non-Current Liabilities 644,076.00 701,622.00 792,119.00 805,970.00 806,250.00 824,138.00 822,500.00 752,867.00 739,083.00 610,918.00 258,218.00
      Long-Term Debt 204,533.00 253,326.00 325,506.00 324,917.00 806,250.00 319,586.00 314,466.00 238,456.00 237,428.00 146,693.00 126,922.00
      Other Non-Current Liabilities 439,543.00 448,296.00 466,613.00 481,053.00 0.00 504,552.00 508,034.00 514,411.00 501,655.00 464,225.00 131,296.00
Equity -387,889.00 -421,594.00 -451,927.00 -475,934.00 -468,563.00 -476,167.00 -455,528.00 -328,287.00 -294,597.00 -164,215.00 -74,988.00
   Shareholders Equity -387,889.00 -421,594.00 -451,927.00 -475,934.00 -468,563.00 -476,167.00 -455,528.00 -328,287.00 -294,597.00 -164,215.00 -74,988.00
      Capital Stock 2,105.00 2,099.00 2,092.00 2,085.00 2,071.00 2,063.00 2,058.00 1,889.00 1,879.00 1,856.00 1,777.00
      Share Premium 1,360,890.00 1,339,584.00 1,314,857.00 1,291,100.00 1,270,318.00 1,237,537.00 1,222,236.00 1,177,192.00 1,158,118.00 1,115,443.00 1,010,779.00
      Retained Earnings -1,752,024.00 -1,764,923.00 -1,770,008.00 -1,770,040.00 -1,743,245.00 -1,716,538.00 -1,681,159.00 -1,507,953.00 -1,454,620.00 -1,281,700.00 -1,087,726.00
      Treasury Shares 0 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income 1,140.00 1,646.00 1,132.00 921.00 2,293.00 771.00 1,337.00 585.00 26.00 186.00 182.00
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0
Investments 168,464.00 182,106.00 210,450.00 236,460.00 0 252,221.00 278,344.00 246,454.00 137,620.00 47,964.00 13,454.00
Debt 206,316.00 255,334.00 328,372.00 327,689.00 809,138.00 322,326.00 317,114.00 240,947.00 239,797.00 148,774.00 157,923.00
Net Debt 0 0 32,989.00 6,629.00 699,267.00 0 0 0 0 0 0
Common Shares Outstanding 210,522.00 209,905.00 209,208.00 208,543.00 207,119.00 206,347.00 205,771.00 188,883.00 187,906.00 185,572.00 177,670.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Revenues 159,395.00 163,353.00 145,534.00 117,085.00 92,761.00 68,778.00 49,923.00 19,059.00
Cost Of Revenue 2,187.00 2,798.00 4,568.00 3,228.00 1,265.00 931.00 236.00 5,923.00
Interest Income 0 0 0 3,591.00 0 0 0 0
Interest Expense 19,661.00 21,582.00 23,494.00 24,828.00 24,506.00 27,396.00 23,837.00 12,904.00
Non-Interest Expense 0 0 0 65,084.00 0 0 0 0
Gross Profit 157,208.00 160,555.00 140,966.00 113,857.00 91,496.00 67,847.00 49,687.00 13,136.00
Operating Expenses 127,617.00 130,769.00 119,739.00 106,165.00 105,984.00 96,262.00 99,644.00 64,513.00
   Selling, General and Administrative Expenses 83,014.00 87,383.00 82,469.00 65,084.00 59,364.00 47,867.00 34,282.00 22,114.00
   Research and Development Expenses 44,603.00 43,386.00 37,270.00 41,081.00 46,493.00 48,388.00 65,360.00 42,435.00
   Other Operating Expenses 0.00 0.00 0.00 0 127.00 7.00 2.00 -36.00
Operating Income 29,591.00 29,786.00 21,227.00 7,692.00 -14,488.00 -28,415.00 -49,957.00 -51,377.00
Net Non-Operating Income -17,461.00 -23,300.00 -20,469.00 0 -20,526.00 -24,247.00 -23,960.00 0
EBT 12,130.00 6,486.00 758.00 -13,447.00 -35,014.00 -52,662.00 -73,917.00 0
Income Tax 769.00 1,401.00 726.00 586.00 365.00 671.00 279.00 0.00
Net Income Including Non-Controlling Interests 0 0 0 -14,033.00 0 0 0 0
Net Income 12,899.00 5,085.00 32.00 -14,033.00 -35,379.00 -53,333.00 -74,196.00 -64,284.00
EBIT 31,791.00 28,068.00 24,252.00 11,381.00 -10,508.00 -25,266.00 -50,080.00 0
Deprecation and Amortization 547.00 554.00 331.00 311.00 306.00 405.00 317.00 178.00
EBITDA 32,338.00 28,622.00 24,583.00 11,692.00 -10,202.00 -24,861.00 -49,763.00 0
EPS 0.00 0.00 0 -0.00 -0.00 -0.00 -0.00 0
Diluted EPS 0.00 0.00 0 -0.00 -0.00 -0.00 0 0
Average Shares Outstanding Basic 210,176.00 209,519.00 208,882.00 206,905.00 206,064.00 188,509.00 0 0
Average Shares Outstanding Diluted 219,885.00 219,886.00 215,261.00 206,905.00 206,064.00 188,509.00 184,898.00 177,343.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Operating Cash Flow 0 0 -27,517.00 8,245.00 -53,684.00 -47,512.00 -77,800.00 -61,011.00
   Operating Net Income 12,899.00 5,085.00 32.00 -14,033.00 -35,379.00 -53,333.00 -74,196.00 -64,284.00
   Deprecation and Amortization 547.00 554.00 331.00 311.00 306.00 405.00 317.00 178.00
   Deferred Income Tax 0 0 0 0 0 0 0 0
   Share Based Compensation 0 0 21,368.00 17,249.00 13,652.00 14,007.00 9,601.00 5,479.00
   Change in Working Capital 0 0 -62,132.00 -9,133.00 -48,522.00 -27,658.00 -32,555.00 -13,425.00
   Other Operating Activities 0 0 12,884.00 13,851.00 16,259.00 19,067.00 19,033.00 11,041.00
Investing Cash Flow 0 0 27,095.00 8,489.00 28,756.00 -107,109.00 -38,472.00 14,673.00
   Capital Expenditure 0.00 0.00 -143.00 0 -235.00 -160.00 -406.00 -99.00
   Net Purchase/Sale of PPE 0 0 -143.00 -59.00 -235.00 -160.00 -406.00 -99.00
   Net Purchase/Sale of Investments Net 0 0 27,238.00 8,548.00 28,991.00 -106,949.00 -38,066.00 14,771.00
   Net Purchase/Sale of Business 0 0 0 0 0 0 0 0
   Other Investing Activities 0 0 143.00 0.00 235.00 160.00 406.00 100.00
Financing Cash Flow 0 0 529.00 1,274.00 -1,048.00 5,077.00 7,356.00 2,900.00
   Net Issuance/Repayment of Debt 0 0 -516.00 -556.00 -390.00 0 0 0
   Net Issuance/Repurchase of Equity 0 0 0 6.00 0 5,077.00 7,356.00 2,900.00
   Dividends Paid 0 0 0 0 0 0 0 0
   Other Financing Activities 0 0 1,045.00 1,824.00 -658.00 0.00 0.00 0.00
Net Change in Cash 0 0 558.00 18,008.00 -26,316.00 -149,640.00 -108,876.00 -43,438.00
   Cash at Beginning of Period 0 0 106,323.00 80,205.00 112,447.00 306,239.00 507,734.00 274,348.00
   Cash at End of Period 0 0 106,881.00 99,064.00 86,131.00 156,599.00 398,858.00 230,910.00
Free Cash Flow 0 0 -27,660.00 8,186.00 -53,919.00 -47,672.00 -78,206.00 -61,110.00