Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings -5.36 -2.72 -9.14 -94.76
Price to Sales 5.90 2.96 2.20 19.27
Book Value Per Common Share 0.82 1.24 2.20 2.52
Price to Book 5.83 2.46 2.12 12.38
Price to Operating Cash Flow -7.09 -3.95 26.98 -141.49
Price to Free Cash Flow -6.52 -3.64 102.19 -71.87
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31
Price to Earnings -11.09 -15.25 -10.76 -10.62 -9.69 -21.81
Price to Sales 25.60 13.59 29.40 17.28 27.34 14.28
Book Value Per Common Share 0.43 0.62 0.60 0.82 0.90 0.87 1.12 1.24
Price to Book 5.72 3.96 4.49 5.83 3.41 3.58 3.11 2.46
Price to Operating Cash Flow -16.07 -31.30
Price to Free Cash Flow -14.72 -27.33
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY
Revenue YoY -15.39 -49.39 32.30
EBITDA YoY
Net Profit YoY
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31
Earning YoY
Revenue YoY -43.89 103.21 -64.85 60.83 -53.27
EBITDA YoY
Net Profit YoY

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 1.00 0.96 1.74 1.81
Quick Ratio 5.33 3.47 3.16 4.63
Current Ratio 4.18 2.61 3.32 4.85
Debt to Equity 1.23 0.58 0.73 0.50
Long-Term Debt to Equity 0.87 0.16 0.39 0.30
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31
Cash Per Common Share 0.65 0.78 0.73 0.90 1.25 1.04 1.22 0.93
Quick Ratio 4.65 7.52 4.44 5.33 3.89 3.51 4.32 3.47
Current Ratio 4.12 5.82 3.72 4.18 3.21 2.99 3.71 2.61
Debt to Equity 2.22 1.49 1.60 1.23 1.02 1.15 0.89 0.58
Long-Term Debt to Equity 1.74 1.21 1.18 0.87 0.54 0.65 0.52 0.16

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA -43.81 -55.83 -13.42 -8.64
ROE -97.53 -88.02 -23.20 -12.94
Gross Margin 72.55 81.74 72.56 78.80
Operating Margin -109.94 -108.59 -22.88 -21.67
EBITDA Margin -96.24 -94.45 -18.99 -15.99
Net Profit Margin -109.99 -108.69 -24.24 -20.31
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31
ROA -15.82 -9.60 -16.05 -13.93 -17.24 -7.69
ROE -50.89 -23.86 -41.69 -28.12 -37.03 -14.51
Gross Margin 71.34 86.31 63.78 66.36 56.61 71.56
Operating Margin -227.96 -86.52 -274.12 -160.76 -285.06 -67.33
EBITDA Margin -212.64 -78.03 -248.81 -151.53 -269.53 -55.47
Net Profit Margin -228.05 -86.59 -274.27 -160.84 -285.19 -67.39

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 2024-06-30 2024-03-31 2023-12-31
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 149,011.00 136,561.00 250,393.00 246,383.00
   Current Assets 98,772.00 93,466.00 162,894.00 161,888.00
      Cash and Short-Term Investments 73,500.00 65,116.00 113,984.00 116,797.00
            Cash and Cash Equivalents 19,264.00 65,116.00 113,984.00 116,797.00
            Short-Term Investments 54,194.00 0 0 0
      Net Receivables 52,439.00 59,034.00 40,873.00 37,652.00
      Inventory 1,799.00 2,685.00 2,029.00 1,160.00
      Other Current Assets -28,966.00 -33,369.00 6,008.00 6,279.00
   Non-Current Assets 50,239.00 43,095.00 87,499.00 84,495.00
      Property, Plant, Equipment Net 42,897.00 28,624.00 61,877.00 65,457.00
      Goodwill 2,463.00 2,463.00 3,241.00 3,241.00
      Intangible Assets 0 0 0 0
      Long-Term Investments 0 0 20,510.00 14,002.00
      Non-Current Deferred Assets 48.00 176.00 0 0
      Other Non-Current Assets 4,831.00 11,832.00 1,871.00 1,795.00
Liabilities 82,084.00 49,946.00 105,596.00 81,992.00
   Current Liabilities 23,648.00 35,830.00 49,066.00 33,371.00
      Payables and Expenses 20,471.00 21,928.00 18,525.00 15,573.00
            Account Payables 2,838.00 5,947.00 3,246.00 2,995.00
            Current Accrued Liabilities 17,633.00 15,981.00 15,279.00 12,578.00
      Short-Term Debt 2,827.00 10,121.00 5,360.00 4,093.00
      Other Current Liabilities 350.00 3,781.00 25,181.00 13,705.00
   Non-Current Liabilities 58,436.00 14,116.00 56,530.00 48,621.00
      Long-Term Debt 57,068.00 12,243.00 38,278.00 43,561.00
      Other Non-Current Liabilities 1,368.00 1,873.00 18,252.00 5,060.00
Equity 66,927.00 86,615.00 144,797.00 164,391.00
   Shareholders Equity 66,927.00 86,615.00 144,797.00 164,391.00
      Capital Stock 8.00 7.00 6.00 6.00
      Share Premium 629,673.00 584,138.00 566,081.00 552,083.00
      Retained Earnings -562,806.00 -497,530.00 -421,290.00 -387,698.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income 52.00 0 0 0
   Minority Interest 0 0 0 0
Investments 73,240.00 19,993.00 0 0
Debt 59,895.00 22,364.00 43,638.00 47,654.00
Common Shares Outstanding 81,850.00 69,905.00 65,811.32 65,109.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 59,345.00 70,143.00 138,590.00 104,754.00
Cost Of Revenue 16,288.00 12,809.00 38,033.00 22,209.00
Interest Income 0 0 1,441.00 459.00
Interest Expense 0.00 0.00 0 0
Net Interest 3,670.00 4,172.00 0 0
Non-Interest Expense 0 0 52,172.00 49,323.00
Gross Profit 43,057.00 57,334.00 100,557.00 82,545.00
Operating Expenses 101,576.00 125,403.00 132,271.00 105,242.00
   Selling, General and Administrative Expenses 55,148.00 53,250.00 52,172.00 49,323.00
   Research and Development Expenses 46,263.00 58,885.00 80,099.00 55,919.00
   Other Operating Expenses 165.00 13,268.00 0 0
Operating Income -58,519.00 -68,069.00 -31,714.00 -22,697.00
Net Non-Operating Income -6,723.00 -8,102.00 124.00 1,148.00
EBT -65,242.00 -76,171.00 -33,316.00 -21,090.00
Income Tax 34.00 69.00 276.00 189.00
Net Income Including Non-Controlling Interests 0 0 -33,592.00 -21,279.00
Net Income -65,276.00 -76,240.00 -33,592.00 -21,279.00
EBIT -65,242.00 -76,171.00 -31,714.00 -22,697.00
Deprecation and Amortization 8,130.00 9,923.00 5,402.00 5,947.00
EBITDA -57,112.00 -66,248.00 -26,312.00 -16,750.00
EPS -0.00 -0.00 -0.00 -0.00
Diluted EPS -0.00 -0.00 -0.00 -0.00
Average Shares Outstanding Basic 73,408.00 68,131.00 65,344.00 64,568.00
Average Shares Outstanding Diluted 73,408.00 68,131.00 65,344.00 64,568.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow -49,410.00 -52,638.00 11,284.00 -14,267.00
   Operating Net Income -65,276.00 -76,240.00 -33,592.00 -21,279.00
   Deprecation and Amortization 8,130.00 9,923.00 5,402.00 5,947.00
   Deferred Income Tax -2.00 0 0 0
   Share Based Compensation 13,087.00 9,971.00 14,531.00 11,593.00
   Change in Working Capital -13,998.00 -4,176.00 21,572.00 -7,624.00
   Other Operating Activities 8,649.00 7,884.00 3,371.00 -2,904.00
Investing Cash Flow -56,980.00 -4,858.00 -13,578.00 -21,422.00
   Capital Expenditure -4,305.00 -4,418.00 0 0
   Net Purchase/Sale of PPE -4,218.00 -3,667.00 -8,278.00 -13,792.00
   Net Purchase/Sale of Investments Net 0 -1,191.00 -5,300.00 -7,630.00
   Net Purchase/Sale of Business 0 0 0 0
   Other Investing Activities -48,457.00 4,418.00 0.00 0.00
Financing Cash Flow 60,522.00 8,167.00 -575.00 3,767.00
   Net Issuance/Repayment of Debt 29,521.00 0 0 0
   Net Issuance/Repurchase of Equity 33,349.00 9,074.00 0 0
   Dividends Paid 0 0 0 0
   Other Financing Activities -2,348.00 -907.00 -575.00 3,767.00
Net Change in Cash -45,868.00 -49,329.00 -2,869.00 -31,922.00
   Cash at Beginning of Period 66,697.00 116,026.00 118,895.00 150,817.00
   Cash at End of Period 20,829.00 66,697.00 116,026.00 118,895.00
Free Cash Flow -53,715.00 -57,056.00 2,977.00 -28,095.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31
Assets 123,961.00 138,246.00 128,887.00 149,011.00 148,183.00 132,006.00 149,559.00 136,561.00
   Current Assets 76,192.00 88,729.00 77,808.00 98,772.00 112,902.00 91,398.00 107,948.00 93,466.00
      Cash and Short-Term Investments 58,701.00 66,330.00 59,800.00 73,500.00 90,300.00 73,200.00 85,515.00 65,116.00
            Cash and Cash Equivalents 25,351.00 26,761.00 18,319.00 19,264.00 37,452.00 18,595.00 58,046.00 65,116.00
            Short-Term Investments 33,350.00 39,569.00 41,462.00 54,194.00 52,803.00 54,604.00 27,469.00 0
      Net Receivables 27,118.00 48,219.00 33,022.00 52,439.00 46,261.00 34,016.00 40,109.00 59,034.00
      Inventory 1,936.00 1,945.00 1,781.00 1,799.00 2,103.00 2,232.00 2,441.00 2,685.00
      Other Current Assets -11,563.00 -27,765.00 -16,795.00 -28,966.00 -25,762.00 -18,050.00 -20,117.00 -33,369.00
   Non-Current Assets 47,769.00 49,517.00 51,079.00 50,239.00 35,281.00 40,608.00 41,611.00 43,095.00
      Property, Plant, Equipment Net 40,534.00 42,244.00 43,789.00 42,897.00 24,038.00 25,542.00 27,032.00 28,624.00
      Goodwill 2,463.00 2,463.00 2,463.00 2,463.00 2,463.00 2,463.00 2,463.00 2,463.00
      Intangible Assets 0 0 0 0 0 0 0 0
      Long-Term Investments 0 0 0 0 0 0 0 0
      Non-Current Deferred Assets 0 0 0 48.00 0 0 0 176.00
      Other Non-Current Assets 4,772.00 4,810.00 4,827.00 4,831.00 8,780.00 12,603.00 12,116.00 11,832.00
Liabilities 85,417.00 82,615.00 79,258.00 82,084.00 74,783.00 70,559.00 70,292.00 49,946.00
   Current Liabilities 18,475.00 15,237.00 20,901.00 23,648.00 35,129.00 30,539.00 29,080.00 35,830.00
      Payables and Expenses 15,088.00 12,136.00 17,550.00 20,471.00 21,037.00 16,760.00 15,341.00 21,928.00
            Account Payables 2,425.00 1,468.00 6,046.00 2,838.00 4,212.00 3,685.00 3,465.00 5,947.00
            Current Accrued Liabilities 12,663.00 10,668.00 11,504.00 17,633.00 16,825.00 13,075.00 11,876.00 15,981.00
      Short-Term Debt 3,091.00 3,001.00 2,913.00 2,827.00 4,081.00 3,979.00 3,879.00 10,121.00
      Other Current Liabilities 296.00 100.00 438.00 350.00 10,011.00 9,800.00 9,860.00 3,781.00
   Non-Current Liabilities 66,942.00 67,378.00 58,357.00 58,436.00 39,654.00 40,020.00 41,212.00 14,116.00
      Long-Term Debt 65,530.00 65,979.00 56,584.00 57,068.00 37,765.00 38,556.00 39,334.00 12,243.00
      Other Non-Current Liabilities 1,412.00 1,399.00 1,773.00 1,368.00 1,889.00 1,464.00 1,878.00 1,873.00
Equity 38,544.00 55,631.00 49,629.00 66,927.00 73,400.00 61,447.00 79,267.00 86,615.00
   Shareholders Equity 38,544.00 55,631.00 49,629.00 66,927.00 73,400.00 61,447.00 79,267.00 86,615.00
      Capital Stock 9.00 9.00 8.00 8.00 8.00 7.00 7.00 7.00
      Share Premium 654,904.00 652,391.00 633,101.00 629,673.00 625,696.00 593,253.00 588,311.00 584,138.00
      Retained Earnings -616,381.00 -596,766.00 -583,494.00 -562,806.00 -552,430.00 -531,790.00 -509,035.00 -497,530.00
      Treasury Shares 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income 12.00 -3.00 14.00 52.00 126.00 -23.00 -16.00 0
   Minority Interest 0 0 0 0 0 0 0 0
Investments 43,132.00 56,101.00 53,098.00 73,240.00 69,408.00 67,057.00 41,739.00 19,993.00
Debt 68,621.00 68,980.00 59,497.00 59,895.00 41,846.00 42,535.00 43,213.00 22,364.00
Net Debt 9,920.00 2,650.00 0 0 0 0 0 0
Common Shares Outstanding 90,281.00 90,254.00 82,841.00 81,850.00 81,376.00 70,914.00 70,554.00 69,905.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31
Revenues 8,601.00 15,328.00 7,543.00 21,460.00 12,833.00 7,979.00 17,073.00
Cost Of Revenue 2,465.00 2,098.00 2,732.00 3,654.00 4,317.00 3,462.00 4,855.00
Gross Profit 6,136.00 13,230.00 4,811.00 17,806.00 8,516.00 4,517.00 12,218.00
Operating Expenses 25,085.00 26,092.00 25,297.00 25,148.00 25,073.00 27,249.00 24,106.00
   Selling, General and Administrative Expenses 11,217.00 12,317.00 12,355.00 13,049.00 13,568.00 15,671.00 12,860.00
   Research and Development Expenses 13,868.00 13,775.00 12,942.00 12,099.00 11,505.00 11,413.00 11,246.00
   Other Operating Expenses 0.00 0.00 0.00 0.00 0.00 165.00 0.00
Operating Income -18,949.00 -12,862.00 -20,486.00 -7,342.00 -16,557.00 -22,732.00 -11,888.00
Net Non-Operating Income -658.00 -400.00 -191.00 -3,030.00 -4,073.00 -13.00 393.00
Interest Expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Interest 634.00 584.00 751.00 940.00 849.00 972.00 909.00
EBT -19,607.00 -13,262.00 -20,677.00 -10,372.00 -20,630.00 -22,745.00 -11,495.00
Income Tax 8.00 10.00 11.00 4.00 10.00 10.00 10.00
Net Income -19,615.00 -13,272.00 -20,688.00 -10,376.00 -20,640.00 -22,755.00 -11,505.00
EBIT -19,607.00 -13,262.00 -20,677.00 -10,372.00 -20,630.00 -22,745.00 -11,495.00
Deprecation and Amortization 1,318.00 1,302.00 1,909.00 3,682.00 1,184.00 1,239.00 2,025.00
EBITDA -18,289.00 -11,960.00 -18,768.00 -6,690.00 -19,446.00 -21,506.00 -9,470.00
EPS -0.00 -0.00 -0.00 0.00 -0.00 -0.00 -0.00
Diluted EPS -0.00 -0.00 -0.00 0.00 -0.00 -0.00 -0.00
Average Shares Outstanding Basic 90,251.00 85,389.00 82,410.00 81,370.00 72,032.00 70,376.00 69,854.00
Average Shares Outstanding Diluted 90,251.00 85,389.00 82,410.00 81,370.00 72,032.00 70,376.00 69,854.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31
Operating Cash Flow 0 0 -13,798.00 -41,621.00 0 0 -7,789.00
   Operating Net Income -19,615.00 -13,272.00 -20,688.00 -10,376.00 -20,640.00 -22,755.00 -11,505.00
   Deprecation and Amortization 1,318.00 1,302.00 1,909.00 3,682.00 1,184.00 1,239.00 2,025.00
   Deferred Income Tax 0 0 0 -2.00 0 0 0
   Share Based Compensation 2,513.00 2,532.00 2,379.00 2,526.00 2,708.00 4,682.00 3,171.00
   Change in Working Capital 0 0 9,268.00 -16,362.00 0 0 2,364.00
   Other Operating Activities 0 0 -6,666.00 12,493.00 0 0 -3,844.00
Investing Cash Flow 0 0 11,769.00 -28,417.00 0 0 -28,563.00
   Capital Expenditure 0.00 0.00 -1,256.00 -3,175.00 0.00 0.00 -1,130.00
   Net Purchase/Sale of PPE 0 0 -1,255.00 -3,099.00 0 0 -1,119.00
   Net Purchase/Sale of Investments Net 0 0 0 0 0 0 0
   Net Purchase/Sale of Business 0 0 0 0 0 0 0
   Other Investing Activities 0 0 14,280.00 -22,143.00 0 0 -26,314.00
Financing Cash Flow 0 0 1,085.00 31,241.00 0 0 29,281.00
   Net Issuance/Repayment of Debt 0 0 0 0.00 0 0 29,521.00
   Net Issuance/Repurchase of Equity 0 0 1,098.00 33,068.00 0 0 281.00
   Dividends Paid 0 0 0 0 0 0 0
   Other Financing Activities 0 0 -13.00 -1,827.00 0 0 -521.00
Net Change in Cash 0 0 -944.00 -38,797.00 0 0 -7,071.00
   Cash at Beginning of Period 0 0 20,829.00 59,626.00 0 0 66,697.00
   Cash at End of Period 26,898.00 28,325.00 19,885.00 20,829.00 39,028.00 20,174.00 59,626.00
Free Cash Flow 0 0 -15,054.00 -44,796.00 0 0 -8,919.00