Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings -1.01 -4.22 -3.01
Price to Sales
Book Value Per Common Share 1.42 4.72 3.67 6.14
Price to Book 2.73 3.08 2.30 1.21
Price to Operating Cash Flow -1.17 -5.13 -3.95 -6.12
Price to Free Cash Flow -1.16 -4.95 -3.89 -5.62
Enterprise Value to EBITDA
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 2021-12-31 2021-03-31
Price to Earnings -7.48 -3.53 -2.66 -11.10 -13.72 -31.64
Price to Sales 0.12
Book Value Per Common Share 0.26 0.47 0.76 1.42 2.10 3.77 4.72 2.80 3.67 5.65 6.14 0.02
Price to Book 7.70 3.80 2.79 2.73 4.82 3.97 3.08 11.06 2.30 0.79 1.21
Price to Operating Cash Flow -10.47 -3.81 -3.04 -14.51 -16.75 -38.16 -13.02
Price to Free Cash Flow -10.47 -3.81 -14.40 -16.73 -34.04 -12.89
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY
Revenue YoY
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 2021-12-31 2021-03-31
Earning YoY
Revenue YoY 0.00
EBITDA YoY
Net Profit YoY

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 1.61 5.19 3.86 5.96
Quick Ratio
Current Ratio 3.15 7.84 6.17 38.08
Debt to Equity 0.55 0.18 0.19 0.04
Long-Term Debt to Equity 0.13 0.05 0.02 0.01
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 2021-12-31 2021-03-31
Cash Per Common Share 0.78 1.38 0.98 1.61 2.43 4.04 4.93 2.92 3.82 5.65 5.96 3.79
Quick Ratio 3.00 3.20 1.81 11.61
Current Ratio 3.18 3.68 2.25 3.15 3.39 5.84 7.84 4.74 6.17 20.98 38.08 12.13
Debt to Equity 2.53 1.66 0.92 0.55 0.45 0.25 0.18 0.36 0.19 0.06 0.04 0.07
Long-Term Debt to Equity 1.54 1.02 0.23 0.13 0.09 0.06 0.05 0.13 0.02 0.01 0.01 0.00

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA -173.17 -58.65 -63.28 -22.38
ROE -268.41 -69.28 -75.39 -23.25
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin
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 2021-12-31 2021-03-31
ROA -29.73 -28.35 -53.15 -29.69 -23.18 -25.79 -9.36 -9.77
ROE -105.05 -75.39 -101.83 -43.16 -28.87 -34.95 -9.93 -10.46
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin -1.53 -0.55

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 2021-12-31 2021-03-31
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 79,938.00 199,927.00 129,307.00 185,705.00
   Current Assets 68,332.00 179,181.00 117,819.00 176,561.00
      Cash and Short-Term Investments 58,279.00 176,866.00 113,049.00 173,516.00
            Cash and Cash Equivalents 58,279.00 176,866.00 111,899.00 145,736.00
            Short-Term Investments 0 0 1,150.00 27,780.00
      Net Receivables 0 0 0 0
      Inventory 0 0 0 0
      Other Current Assets 10,053.00 2,315.00 4,770.00 3,045.00
   Non-Current Assets 11,606.00 20,746.00 11,488.00 9,144.00
      Property, Plant, Equipment Net 10,618.00 14,873.00 7,992.00 5,687.00
      Goodwill 0 0 0 0
      Intangible Assets 0 0 0 0
      Long-Term Investments 0 0 0 1,876.00
      Non-Current Deferred Assets 0 0 0 0
      Other Non-Current Assets 988.00 5,873.00 3,496.00 1,581.00
Liabilities 28,365.00 30,690.00 20,768.00 6,922.00
   Current Liabilities 21,673.00 22,860.00 19,101.00 4,637.00
      Payables and Expenses 13,384.00 12,807.00 11,600.00 1,748.00
            Account Payables 12,932.00 6,851.00 6,826.00 1,329.00
            Current Accrued Liabilities 452.00 5,956.00 4,774.00 419.00
      Short-Term Debt 2,079.00 2,466.00 618.00 565.00
      Other Current Liabilities 6,210.00 7,587.00 6,883.00 2,324.00
   Non-Current Liabilities 6,692.00 7,830.00 1,667.00 2,285.00
      Long-Term Debt 6,692.00 7,830.00 1,667.00 2,285.00
      Other Non-Current Liabilities 0.00 0.00 0.00 0.00
Equity 51,573.00 169,237.00 108,539.00 178,783.00
   Shareholders Equity 51,573.00 169,237.00 108,539.00 178,783.00
      Capital Stock 4.00 4.00 3.00 3.00
      Share Premium 438,820.00 418,058.00 240,107.00 228,532.00
      Retained Earnings -387,251.00 -248,825.00 -131,570.00 -49,742.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 -1.00 -10.00
   Minority Interest 0 0 0 0
Investments 56,031.00 174,429.00 1,150.00 29,656.00
Debt 8,771.00 10,296.00 2,285.00 2,850.00
Common Shares Outstanding 36,310.71 35,866.61 29,561.55 29,115.42
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Expenses 144,070.00 126,135.00 83,634.00 41,667.00
   Selling, General and Administrative Expenses 25,985.00 23,589.00 20,921.00 13,671.00
   Research and Development Expenses 118,085.00 102,546.00 62,713.00 27,996.00
   Other Operating Expenses 0.00 0.00 0.00 0.00
Operating Income -144,070.00 -126,135.00 -83,634.00 -41,667.00
Interest Expense 0.00 0.00 0.00 0.00
EBT 0 0 0 0
Income Tax 0.00 0.00 0.00 0.00
Net Income -138,426.00 -117,255.00 -81,828.00 -41,567.00
Deprecation and Amortization 4,586.00 4,202.00 1,406.00 1,469.00
EPS -0.00 -0.00 -0.00 0
Diluted EPS -0.00 -0.00 -0.00 0
Average Shares Outstanding Basic 36,105.67 34,106.92 29,271.78 0
Average Shares Outstanding Diluted 36,105.67 34,106.92 29,271.78 0
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow -119,894.00 -96,592.00 -62,417.00 -35,438.00
   Operating Net Income -138,426.00 -117,255.00 -81,828.00 -41,567.00
   Deprecation and Amortization 4,586.00 4,202.00 1,406.00 1,469.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 19,094.00 14,131.00 10,336.00 6,234.00
   Change in Working Capital 1,733.00 444.00 -1,245.00 -3,684.00
   Other Operating Activities -6,881.00 1,886.00 8,914.00 2,110.00
Investing Cash Flow -362.00 -2,220.00 27,341.00 -33,355.00
   Capital Expenditure -362.00 -3,370.00 -1,030.00 -3,171.00
   Net Purchase/Sale of PPE -362.00 -3,370.00 -1,030.00 -3,171.00
   Net Purchase/Sale of Investments Net 0 1,150.00 28,371.00 -30,184.00
   Net Purchase/Sale of Business 0 0 0 0
   Other Investing Activities 362.00 3,370.00 1,030.00 3,171.00
Financing Cash Flow 1,668.00 163,798.00 1,239.00 153,185.00
   Net Issuance/Repayment of Debt 0 0 0 0
   Net Issuance/Repurchase of Equity 0 161,803.00 0 227,753.00
   Dividends Paid 0 0 0 0
   Other Financing Activities 1,668.00 1,995.00 1,239.00 -74,568.00
Net Change in Cash -118,588.00 64,986.00 -33,837.00 84,392.00
   Cash at Beginning of Period 177,236.00 112,250.00 146,087.00 61,695.00
   Cash at End of Period 58,648.00 177,236.00 112,250.00 146,087.00
Free Cash Flow -120,256.00 -99,962.00 -63,447.00 -38,609.00
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 2021-12-31 2021-03-31
Assets 55,187.00 73,163.00 55,055.00 79,938.00 110,419.00 168,494.00 199,927.00 112,638.00 129,307.00 174,864.00 185,705.00 59,875.00
   Current Assets 49,440.00 64,663.00 44,685.00 68,332.00 93,598.00 147,566.00 179,181.00 88,931.00 117,819.00 167,023.00 176,561.00 47,522.00
   Deposits 0 0 0 0 0 0 0 0 0 0 0 75.00
      Cash and Short-Term Investments 46,642.00 56,224.00 35,864.00 58,279.00 87,952.00 144,918.00 176,866.00 86,300.00 113,049.00 164,806.00 173,516.00 45,477.00
            Cash and Cash Equivalents 46,642.00 56,224.00 35,864.00 58,279.00 87,952.00 144,918.00 176,866.00 86,300.00 111,899.00 156,215.00 145,736.00 18,891.00
            Short-Term Investments 0 0 0 0 0 0 0 0 1,150.00 8,591.00 27,780.00 26,586.00
      Net Receivables 22.00 22.00 24.00 0 0 0 0 0 0 0 0 36.00
      Inventory 0 0 0 0 0 0 0 0 0 0 0 0
      Other Current Assets 2,776.00 8,417.00 8,797.00 10,053.00 0 2,648.00 2,315.00 2,631.00 4,770.00 2,217.00 3,045.00 2,009.00
   Non-Current Assets 5,747.00 8,500.00 10,370.00 11,606.00 16,821.00 20,928.00 20,746.00 23,707.00 11,488.00 7,841.00 9,144.00 12,353.00
      Property, Plant, Equipment Net 5,378.00 8,127.00 9,384.00 10,618.00 11,823.00 13,819.00 14,873.00 19,467.00 7,992.00 5,476.00 5,687.00 294.00
      Goodwill 0 0 0 0 0 0 0 0 0 0 0 0
      Intangible Assets 0 0 0 0 0 0 0 0 0 0 0 0
      Long-Term Investments 0 0 0 0 0 0 0 0 0 415.00 1,876.00 11,843.00
      Non-Current Deferred Assets 0 0 0 0 0 0 0 0 0 0 0 0
      Other Non-Current Assets 369.00 373.00 986.00 988.00 4,998.00 7,109.00 5,873.00 4,240.00 3,496.00 1,950.00 1,581.00 216.00
Liabilities 39,568.00 45,653.00 26,318.00 28,365.00 34,447.00 33,180.00 30,690.00 29,509.00 20,768.00 10,099.00 6,922.00 3,919.00
   Current Liabilities 15,565.00 17,568.00 19,817.00 21,673.00 27,572.00 25,254.00 22,860.00 18,774.00 19,101.00 7,962.00 4,637.00 3,919.00
      Payables and Expenses 14,634.00 16,603.00 10,338.00 13,384.00 24,734.00 7,139.00 12,807.00 7,120.00 11,600.00 3,744.00 1,748.00 3,746.00
            Account Payables 6,397.00 8,378.00 7,707.00 12,932.00 8,987.00 4,709.00 6,851.00 5,329.00 6,826.00 2,524.00 1,329.00 969.00
            Current Accrued Liabilities 8,237.00 8,225.00 2,631.00 452.00 15,747.00 2,430.00 5,956.00 1,791.00 4,774.00 1,220.00 419.00 2,777.00
      Short-Term Debt 787.00 755.00 1,426.00 2,079.00 2,692.00 3,166.00 2,466.00 2,611.00 618.00 578.00 565.00 173.00
      Other Current Liabilities 144.00 210.00 8,053.00 6,210.00 146.00 14,949.00 7,587.00 9,043.00 6,883.00 3,640.00 2,324.00 0.00
   Non-Current Liabilities 24,003.00 28,085.00 6,501.00 6,692.00 6,875.00 7,926.00 7,830.00 10,735.00 1,667.00 2,137.00 2,285.00 0.00
      Long-Term Debt 6,089.00 6,299.00 6,501.00 6,692.00 6,875.00 7,926.00 7,830.00 10,735.00 1,667.00 2,137.00 2,285.00 0
      Other Non-Current Liabilities 17,914.00 21,786.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0
Equity 15,619.00 27,510.00 28,737.00 51,573.00 75,972.00 135,314.00 169,237.00 83,129.00 108,539.00 164,765.00 178,783.00 55,956.00
   Shareholders Equity 15,619.00 27,510.00 28,737.00 51,573.00 75,972.00 135,314.00 169,237.00 83,129.00 108,539.00 164,765.00 178,783.00 221.00
      Capital Stock 6.00 6.00 4.00 4.00 4.00 4.00 4.00 3.00 3.00 3.00 3.00 1.00
      Share Premium 469,273.00 464,757.00 445,246.00 438,820.00 433,917.00 423,196.00 418,058.00 243,747.00 240,107.00 230,893.00 228,532.00 14,262.00
      Retained Earnings -453,660.00 -437,253.00 -416,513.00 -387,251.00 -357,949.00 -287,886.00 -248,825.00 -160,621.00 -131,570.00 -66,108.00 -49,742.00 -14,027.00
      Treasury Shares 0 0 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 0 0 0 0 0 0 -1.00 -23.00 -10.00 -15.00
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 34,250.00 56,031.00 0 142,998.00 174,429.00 85,257.00 1,150.00 9,006.00 29,656.00 38,429.00
Debt 6,876.00 7,054.00 7,927.00 8,771.00 9,567.00 11,092.00 10,296.00 13,346.00 2,285.00 2,715.00 2,850.00 173.00
Common Shares Outstanding 59,508.52 58,127.26 37,572.25 36,310.71 36,238.28 35,933.59 35,866.61 29,651.13 29,561.55 29,168.68 29,115.42 12,004.63
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 0 0 0 0 0 0 1,070,000.00 1,070,000.00
Interest Income 4,398.00 536.00 0 1,252.00 0 0 0 0
Interest Expense 0 0 0.00 0 0.00 0.00 0.00 0.00
Net Interest 0 0 450.00 0 0 0 0 0
Non-Interest Expense 4,199.00 4,710.00 0 6,795.00 0 0 0 0
Operating Expenses 18,600.00 21,276.00 29,712.00 34,039.00 41,059.00 30,031.00 16,400.00 5,857.00
   Selling, General and Administrative Expenses 4,199.00 4,710.00 6,815.00 6,795.00 7,283.00 5,636.00 5,050.00 2,059.00
   Research and Development Expenses 14,401.00 16,566.00 22,897.00 27,244.00 33,776.00 24,395.00 11,350.00 3,798.00
   Other Operating Expenses 0 0 0.00 0 0.00 0.00 0.00 0.00
Operating Income -18,600.00 -21,276.00 -29,712.00 -34,039.00 -41,059.00 -30,031.00 -16,400.00 -5,857.00
EBT -16,407.00 -20,740.00 0 -32,787.00 0 0 0 0
Income Tax 0 0 0.00 0 0.00 0.00 0.00 0.00
Net Income Including Non-Controlling Interests -16,407.00 -20,740.00 0 -32,787.00 0 0 0 0
Net Income -16,407.00 -20,740.00 -29,262.00 -32,787.00 -39,061.00 -29,051.00 -16,366.00 -5,852.00
EBIT -18,600.00 -21,276.00 0 -34,039.00 0 0 0 0
Deprecation and Amortization 427.00 467.00 1,234.00 436.00 1,419.00 906.00 406.00 11.00
EBITDA -18,173.00 -20,809.00 0 -33,603.00 0 0 0 0
EPS -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 0 0
Diluted EPS -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 0 0
Average Shares Outstanding Basic 59,848.32 40,630.40 36,627.15 36,220.74 35,890.37 29,586.47 0 0
Average Shares Outstanding Diluted 59,848.32 40,630.40 36,627.15 36,220.74 35,890.37 29,586.47 0 0
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 -11,550.00 -19,212.00 -25,667.00 -25,217.00 -32,030.00 -24,044.00 -9,994.00 -4,075.00
   Operating Net Income -16,407.00 -20,740.00 -29,262.00 -32,787.00 -39,061.00 -29,051.00 -16,366.00 -5,852.00
   Deprecation and Amortization 427.00 467.00 1,234.00 436.00 1,419.00 906.00 406.00 11.00
   Deferred Income Tax 0 0 0 0 0 0 0 0
   Share Based Compensation 1,940.00 2,573.00 3,169.00 4,742.00 5,022.00 3,233.00 2,330.00 919.00
   Change in Working Capital 4,040.00 -2,076.00 -4,830.00 1,672.00 -3,246.00 1,691.00 1,519.00 852.00
   Other Operating Activities -1,550.00 564.00 4,022.00 720.00 3,836.00 -823.00 2,117.00 -5.00
Investing Cash Flow 0 0 0 -186.00 -35.00 -1,756.00 20,442.00 -38,510.00
   Capital Expenditure 0 0 0.00 0 -35.00 -2,906.00 -95.00 -67.00
   Net Purchase/Sale of PPE 0 0 0 -186.00 -35.00 -2,906.00 -95.00 -67.00
   Net Purchase/Sale of Investments Net 0 0 0 0 0 1,150.00 20,537.00 -38,443.00
   Net Purchase/Sale of Business 0 0 0 0 0 0 0 0
   Other Investing Activities 0 0 0 0.00 35.00 2,906.00 95.00 67.00
Financing Cash Flow 1,968.00 39,572.00 3,252.00 69.00 116.00 201.00 31.00 -3.00
   Net Issuance/Repayment of Debt 0 0 0 0 0 0 0 0
   Net Issuance/Repurchase of Equity 2,596.00 39,575.00 3,257.00 0 116.00 201.00 31.00 0
   Dividends Paid 0 0 0 0 0 0 0 0
   Other Financing Activities -628.00 -3.00 -5.00 69.00 0.00 0.00 0.00 -3.00
Net Change in Cash -9,582.00 20,360.00 -22,415.00 -25,334.00 -31,949.00 -25,599.00 10,479.00 -42,588.00
   Cash at Beginning of Period 56,593.00 36,233.00 58,648.00 113,655.00 177,236.00 112,250.00 146,087.00 61,695.00
   Cash at End of Period 47,011.00 56,593.00 36,233.00 88,321.00 145,287.00 86,651.00 156,566.00 19,107.00
Free Cash Flow -11,550.00 -19,212.00 0 -25,403.00 -32,065.00 -26,950.00 -10,089.00 -4,142.00