Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings -9.56 -9.43 -1.84 -10.49
Price to Sales 4.92 5.19 8.26 60.31
Book Value Per Common Share 0.61 0.73 0.90 1.23
Price to Book 2.49 2.69 0.80 3.48
Price to Operating Cash Flow 2.76 -4.84 -1.82 -15.96
Price to Free Cash Flow 2.77 -4.81 -1.79 -15.76
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings -21.00 -22.25 -18.25 -21.86 181.00
Price to Sales 72.77 132.84 59.11 93.29 9.46
Book Value Per Common Share 0.47 0.54 0.61 0.61 0.68
Price to Book 3.14 3.31 2.39 2.49 2.68
Price to Operating Cash Flow
Price to Free Cash Flow
Enterprise Value to EBITDA 360431.42

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY
Revenue YoY -16.72 346.12 25.00
EBITDA YoY
Net Profit YoY
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY
Revenue YoY 50.44 -44.97 55.27 -91.41
EBITDA YoY
Net Profit YoY

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 1.15 0.58 0.96 1.39
Quick Ratio 5.14 4.26 7.02 6.86
Current Ratio 5.26 4.36 7.23 7.21
Debt to Equity 1.09 0.85 0.21 0.24
Long-Term Debt to Equity 0.73 0.45 0.06 0.08
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 0.92 1.00 1.12 1.15 1.26
Quick Ratio 4.38 4.74 5.09 5.14 4.14
Current Ratio 4.38 4.74 5.09 5.26 4.14
Debt to Equity 1.23 1.12 1.02 1.09 1.04
Long-Term Debt to Equity 0.77 0.71 0.65 0.73 0.58

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA -12.38 -15.46 -35.78 -25.88
ROE -25.92 -28.61 -43.38 -32.06
Gross Margin 71.54 94.01 87.00 88.67
Operating Margin -53.44 -38.83 -471.65 -584.57
EBITDA Margin -51.70 -37.41 -465.23 -576.88
Net Profit Margin -51.07 -56.05 -449.25 -570.05
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA -7.13 -6.89 -6.22 -5.32 1.03
ROE -15.92 -14.61 -12.57 -11.14 2.11
Gross Margin 12.74 -32.46 -5.08 54.11 78.98
Operating Margin -417.40 -670.56 -367.56 -508.70 26.24
EBITDA Margin -417.40 -670.56 -367.56 -508.70 26.24
Net Profit Margin -369.06 -584.09 -314.40 -415.84 7.45

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
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 114,995.00 121,334.00 94,176.00 132,163.00
   Current Assets 105,997.00 114,579.00 86,125.00 123,222.00
      Cash and Short-Term Investments 103,255.00 50,685.00 83,346.00 117,049.00
            Cash and Cash Equivalents 18,229.00 13,890.00 11,059.00 7,801.00
            Short-Term Investments 85,026.00 36,795.00 72,287.00 109,248.00
      Net Receivables 269.00 61,318.00 317.00 188.00
      Inventory 0 0 0 0
      Other Current Assets 2,473.00 2,576.00 2,462.00 5,985.00
   Non-Current Assets 8,998.00 6,755.00 8,051.00 8,941.00
      Property, Plant, Equipment Net 3,695.00 2,545.00 3,358.00 3,905.00
      Goodwill 0 0 0 0
      Intangible Assets 0 0 0 0
      Long-Term Investments 0 0 0 0
      Non-Current Deferred Assets 0 0 0 0
      Other Non-Current Assets 5,303.00 4,210.00 4,693.00 5,036.00
Liabilities 60,081.00 55,775.00 16,496.00 25,470.00
   Current Liabilities 20,160.00 26,266.00 11,919.00 17,096.00
      Payables and Expenses 7,006.00 11,360.00 8,169.00 9,400.00
            Account Payables 1,838.00 3,502.00 1,773.00 4,621.00
            Current Accrued Liabilities 5,168.00 7,858.00 6,396.00 4,779.00
      Short-Term Debt 448.00 632.00 613.00 768.00
      Other Current Liabilities 12,706.00 14,274.00 3,137.00 6,928.00
   Non-Current Liabilities 39,921.00 29,509.00 4,577.00 8,374.00
      Long-Term Debt 2,464.00 719.00 1,312.00 1,982.00
      Other Non-Current Liabilities 37,457.00 28,790.00 3,265.00 6,392.00
Equity 54,914.00 65,559.00 77,680.00 106,693.00
   Shareholders Equity 54,914.00 65,559.00 77,680.00 106,693.00
      Capital Stock 248.00 247.00 240.00 239.00
      Share Premium 543,413.00 539,837.00 533,213.00 528,533.00
      Retained Earnings -488,758.00 -474,527.00 -455,773.00 -422,079.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income 11.00 2.00 0 0
   Minority Interest 0 0 0 0
Debt 2,912.00 1,351.00 1,925.00 2,750.00
Common Shares Outstanding 89,541.25 89,237.46 86,624.64 86,433.43
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 27,864.00 33,459.00 7,500.00 6,000.00
Cost Of Revenue 7,930.00 2,004.00 975.00 680.00
Interest Income 3,489.00 2,960.00 1,437.00 894.00
Interest Expense 0 0 27.00 25.00
Non-Interest Expense 10,015.00 9,975.00 11,251.00 11,700.00
Gross Profit 19,934.00 31,455.00 6,525.00 5,320.00
Operating Expenses 34,825.00 44,447.00 41,899.00 40,394.00
   Selling, General and Administrative Expenses 10,015.00 9,975.00 11,251.00 11,700.00
   Research and Development Expenses 24,810.00 34,472.00 30,648.00 28,694.00
Operating Income -14,891.00 -12,992.00 -35,374.00 -35,074.00
EBT -9,709.00 -9,784.00 -33,636.00 -34,203.00
Income Tax 4,522.00 8,970.00 58.00 0
Net Income Including Non-Controlling Interests -14,231.00 -18,754.00 -33,694.00 -34,203.00
Net Income -14,231.00 -18,754.00 -33,694.00 -34,203.00
EBIT -14,891.00 -12,992.00 -35,374.00 -35,074.00
Deprecation and Amortization 486.00 476.00 482.00 461.00
EBITDA -14,405.00 -12,516.00 -34,892.00 -34,613.00
EPS -0.00 -0.00 -0.00 -0.00
Diluted EPS -0.00 -0.00 -0.00 -0.00
Average Shares Outstanding Basic 89,528.03 87,633.30 86,555.63 84,203.97
Average Shares Outstanding Diluted 89,528.03 87,633.30 86,555.63 84,203.97
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 49,604.00 -35,886.00 -34,113.00 -22,691.00
   Operating Net Income -14,231.00 -18,754.00 -33,694.00 -34,203.00
   Deprecation and Amortization 486.00 476.00 482.00 461.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 3,023.00 3,550.00 4,328.00 4,276.00
   Change in Working Capital 62,050.00 -20,706.00 -5,553.00 6,820.00
   Other Operating Activities -1,724.00 -452.00 324.00 -45.00
Investing Cash Flow -46,252.00 35,510.00 37,060.00 6,616.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE -117.00 -172.00 -485.00 -289.00
   Net Purchase/Sale of Investments Net -45,805.00 35,682.00 37,545.00 6,905.00
   Net Purchase/Sale of Business 0 0 0 0
   Other Investing Activities -330.00 0.00 0.00 0.00
Financing Cash Flow 554.00 3,081.00 353.00 16,838.00
   Net Issuance/Repayment of Debt 0 0 0 0
   Net Issuance/Repurchase of Equity 544.00 3,081.00 0 14,958.00
   Dividends Paid 0 0 0 0
   Other Financing Activities 10.00 0.00 353.00 1,880.00
Net Change in Cash 3,906.00 2,705.00 3,300.00 763.00
   Cash at Beginning of Period 14,255.00 11,421.00 8,514.00 7,810.00
   Cash at End of Period 18,229.00 14,255.00 11,421.00 8,514.00
Free Cash Flow 49,486.00 -36,058.00 -34,600.00 -22,983.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 97,845.00 106,525.00 115,443.00 114,995.00 123,516.00
   Current Assets 88,920.00 97,642.00 106,893.00 105,997.00 114,828.00
      Cash and Short-Term Investments 86,088.00 93,877.00 103,745.00 103,255.00 112,706.00
            Cash and Cash Equivalents 7,455.00 6,467.00 14,575.00 18,229.00 7,216.00
            Short-Term Investments 78,633.00 87,410.00 89,170.00 85,026.00 105,490.00
      Net Receivables 2,832.00 3,765.00 3,148.00 269.00 2,122.00
      Inventory 0 0 0 0 0
      Other Current Assets 0.00 0.00 0.00 2,473.00 0.00
   Non-Current Assets 8,925.00 8,883.00 8,550.00 8,998.00 8,688.00
      Property, Plant, Equipment Net 3,379.00 3,517.00 3,708.00 3,695.00 3,900.00
      Goodwill 0 0 0 0 0
      Intangible Assets 0 0 0 0 0
      Long-Term Investments 0 0 0 0 0
      Non-Current Deferred Assets 0 0 0 0 0
      Other Non-Current Assets 5,546.00 5,366.00 4,842.00 5,303.00 4,788.00
Liabilities 54,019.00 56,269.00 58,335.00 60,081.00 63,028.00
   Current Liabilities 20,283.00 20,583.00 20,993.00 20,160.00 27,761.00
      Payables and Expenses 9,122.00 9,567.00 10,944.00 7,006.00 11,400.00
            Account Payables 0 0 0 1,838.00 0
            Current Accrued Liabilities 0 0 0 5,168.00 0
      Short-Term Debt 486.00 471.00 423.00 448.00 447.00
      Other Current Liabilities 10,675.00 10,545.00 9,626.00 12,706.00 15,914.00
   Non-Current Liabilities 33,736.00 35,686.00 37,342.00 39,921.00 35,267.00
      Long-Term Debt 2,460.00 2,499.00 2,348.00 2,464.00 2,501.00
      Other Non-Current Liabilities 31,276.00 33,187.00 34,994.00 37,457.00 32,766.00
Equity 43,826.00 50,256.00 57,108.00 54,914.00 60,488.00
   Shareholders Equity 43,826.00 50,256.00 57,108.00 54,914.00 60,488.00
      Capital Stock 0 0 0 248.00 0
      Share Premium 0 0 0 543,413.00 0
      Retained Earnings 0 0 0 -488,758.00 0
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 0 11.00 0
   Minority Interest 0 0 0 0 0
Debt 2,946.00 2,970.00 2,771.00 2,912.00 2,948.00
Common Shares Outstanding 93,535.36 93,535.36 93,512.98 89,541.25 89,536.43
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 1,891.00 1,257.00 2,284.00 1,471.00 17,132.00
Cost Of Revenue 1,650.00 1,665.00 2,400.00 675.00 3,601.00
Interest Income 954.00 1,070.00 0 -323.00 1,284.00
Non-Interest Expense 2,334.00 2,380.00 2,506.00 2,368.00 2,729.00
Gross Profit 241.00 -408.00 -116.00 796.00 13,531.00
Operating Expenses 8,134.00 8,021.00 8,279.00 8,279.00 9,035.00
   Selling, General and Administrative Expenses 2,334.00 2,380.00 2,506.00 2,368.00 2,729.00
   Research and Development Expenses 5,800.00 5,641.00 5,773.00 5,911.00 6,306.00
Operating Income -7,893.00 -8,429.00 -8,395.00 -7,483.00 4,496.00
EBT -6,939.00 -7,359.00 -7,150.00 -6,113.00 5,780.00
Income Tax 40.00 -17.00 31.00 4.00 4,504.00
Net Income Including Non-Controlling Interests -6,979.00 -7,342.00 -7,181.00 -6,117.00 1,276.00
Net Income -6,979.00 -7,342.00 -7,181.00 -6,117.00 1,276.00
EBIT -7,893.00 -8,429.00 -8,395.00 -7,483.00 4,496.00
EBITDA -7,893.00 -8,429.00 -8,395.00 -7,483.00 4,496.00
EPS -0.00 -0.00 -0.00 -0.00 0.00
Diluted EPS -0.00 -0.00 -0.00 -0.00 0.00
Average Shares Outstanding Basic 93,538.57 93,526.88 92,308.23 89,538.89 89,535.68
Average Shares Outstanding Diluted 93,538.57 93,526.88 92,308.23 89,538.89 89,819.47
Breakdown
Operating Cash Flow
   Operating Net Income
   Deprecation and Amortization
   Deferred Income Tax
   Share Based Compensation
   Change in Working Capital
   Other Operating Activities
Investing Cash Flow
   Capital Expenditure
   Net Purchase/Sale of PPE
   Net Purchase/Sale of Investments Net
   Net Purchase/Sale of Business
   Other Investing Activities
Financing Cash Flow
   Net Issuance/Repayment of Debt
   Net Issuance/Repurchase of Equity
   Dividends Paid
   Other Financing Activities
Net Change in Cash
   Cash at Beginning of Period
   Cash at End of Period
Free Cash Flow