Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings -6.89 -7.17 -6.00
Price to Sales
Book Value Per Common Share 0.89 1.21 1.53 -0.52
Price to Book 3.48 2.48 2.08
Price to Operating Cash Flow -10.96 -11.63 -8.46
Price to Free Cash Flow -9.84 -8.57 -8.15
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings -20.92
Price to Sales
Book Value Per Common Share 0.91 1.02 0.80 0.89 0.99
Price to Book 4.96 3.06 3.14 3.48 2.40
Price to Operating Cash Flow
Price to Free Cash Flow
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
Earning YoY
Revenue YoY
EBITDA YoY
Net Profit YoY

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 0.85 1.18 1.65 0.46
Quick Ratio 6.91 11.56 24.17 7.22
Current Ratio 7.40 12.07 24.55 7.41
Debt to Equity 0.38 0.27 0.14 -2.21
Long-Term Debt to Equity 0.24 0.19 0.10 -2.09
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 0.85 0.94 0.73 0.85 0.93
Quick Ratio 8.03 10.08 5.49 6.91 10.49
Current Ratio 8.43 10.52 5.81 7.40 10.99
Debt to Equity 0.35 0.28 0.44 0.38 0.31
Long-Term Debt to Equity 0.23 0.19 0.26 0.24 0.22

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA -36.83 -27.15 -28.10 -64.60
ROE -50.67 -34.52 -31.95 78.42
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
ROA -11.16 -9.12 -10.74 -10.99 -7.63
ROE -15.06 -11.68 -15.43 -15.12 -9.98
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin

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 86,204.00 107,388.00 120,149.00 42,215.00
   Current Assets 64,229.00 85,756.00 106,477.00 32,641.00
      Cash and Short-Term Investments 59,600.00 81,788.00 104,530.00 31,316.00
            Cash and Cash Equivalents 13,724.00 12,657.00 5,836.00 23,236.00
            Short-Term Investments 45,876.00 69,131.00 98,694.00 8,080.00
      Net Receivables 332.00 344.00 313.00 480.00
      Inventory 0 0 0 0
      Other Current Assets 4,297.00 3,624.00 1,634.00 845.00
   Non-Current Assets 21,975.00 21,632.00 13,672.00 9,574.00
      Property, Plant, Equipment Net 21,543.00 21,161.00 13,281.00 7,546.00
      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 432.00 471.00 391.00 2,028.00
Liabilities 23,538.00 22,913.00 14,492.00 76,992.00
   Current Liabilities 8,675.00 7,102.00 4,338.00 4,405.00
      Payables and Expenses 6,264.00 4,881.00 2,762.00 3,617.00
            Account Payables 3,531.00 2,566.00 1,423.00 1,203.00
            Current Accrued Liabilities 2,615.00 2,236.00 1,276.00 2,366.00
      Short-Term Debt 1,011.00 1,062.00 669.00 0
      Other Current Liabilities 1,400.00 1,159.00 907.00 0
   Non-Current Liabilities 14,863.00 15,811.00 10,154.00 72,587.00
      Long-Term Debt 11,525.00 12,214.00 4,524.00 0
      Other Non-Current Liabilities 3,338.00 3,597.00 5,630.00 72,587.00
Equity 62,666.00 84,475.00 105,657.00 -34,777.00
   Shareholders Equity 62,666.00 84,475.00 105,657.00 -34,777.00
      Capital Stock 0 0 0 0
      Share Premium 210,175.00 200,234.00 192,259.00 18,063.00
      Retained Earnings -147,509.00 -115,759.00 -86,602.00 -52,840.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 0 0
   Minority Interest 0 0 0 0
Debt 12,536.00 13,276.00 5,193.00 0
Common Shares Outstanding 70,380.57 69,670.61 69,105.00 66,973.19
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Interest Income 4,277.00 4,830.00 1,790.00 211.00
Interest Expense 303.00 75.00 0 0
Non-Interest Expense 9,022.00 9,256.00 11,246.00 2,343.00
Operating Expenses 36,042.00 35,680.00 32,136.00 13,790.00
   Selling, General and Administrative Expenses 9,022.00 9,256.00 11,246.00 2,343.00
   Research and Development Expenses 27,020.00 26,424.00 20,890.00 11,447.00
Operating Income -36,042.00 -35,680.00 -32,136.00 -13,790.00
EBT -31,744.00 -29,141.00 -33,742.00 -27,264.00
Income Tax 6.00 16.00 20.00 7.00
Net Income Including Non-Controlling Interests -31,750.00 -29,157.00 -33,762.00 -27,271.00
Net Income -31,750.00 -29,157.00 -33,762.00 -27,271.00
EBIT -31,441.00 -29,066.00 -33,742.00 -27,264.00
Deprecation and Amortization 1,102.00 1,074.00 979.00 776.00
EBITDA -30,339.00 -27,992.00 -32,763.00 -26,488.00
EPS -0.00 -0.00 -0.00 -0.00
Diluted EPS -0.00 -0.00 -0.00 -0.00
Average Shares Outstanding Basic 69,927.57 69,377.92 63,534.88 67,621.41
Average Shares Outstanding Diluted 69,927.57 69,377.92 63,534.88 67,621.41
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow -19,783.00 -17,958.00 -23,879.00 -11,812.00
   Operating Net Income -31,750.00 -29,157.00 -33,762.00 -27,271.00
   Deprecation and Amortization 1,102.00 1,074.00 979.00 776.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 9,916.00 7,926.00 6,748.00 812.00
   Change in Working Capital 1,168.00 2,492.00 -307.00 585.00
   Other Operating Activities -219.00 -293.00 2,463.00 13,286.00
Investing Cash Flow 20,768.00 18,682.00 -89,936.00 19,273.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE -2,238.00 -6,401.00 -904.00 -2,927.00
   Net Purchase/Sale of Investments Net 23,109.00 28,235.00 -89,032.00 22,200.00
   Net Purchase/Sale of Business 0 0 0 0
   Other Investing Activities -103.00 -3,152.00 0.00 0.00
Financing Cash Flow 25.00 5,297.00 96,905.00 111.00
   Net Issuance/Repayment of Debt 0 5,248.00 0 0
   Net Issuance/Repurchase of Equity 0 0 0 0
   Dividends Paid 0 0 0 0
   Other Financing Activities 0 0 0 111.00
Net Change in Cash 1,010.00 6,021.00 -16,910.00 7,572.00
   Cash at Beginning of Period 12,657.00 6,686.00 23,854.00 16,174.00
   Cash at End of Period 13,724.00 12,657.00 6,686.00 23,854.00
Free Cash Flow -22,021.00 -24,359.00 -24,783.00 -14,739.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 104,694.00 110,954.00 80,928.00 86,204.00 90,727.00
   Current Assets 77,100.00 85,778.00 56,786.00 64,229.00 69,785.00
      Cash and Short-Term Investments 72,211.00 79,699.00 51,636.00 59,600.00 65,222.00
            Cash and Cash Equivalents 3,329.00 11,703.00 5,019.00 13,724.00 5,526.00
            Short-Term Investments 68,882.00 67,996.00 46,617.00 45,876.00 59,696.00
      Net Receivables 1,220.00 2,525.00 1,938.00 332.00 1,361.00
      Inventory 0 0 0 0 0
      Other Current Assets 3,669.00 3,554.00 3,212.00 4,297.00 3,202.00
   Non-Current Assets 27,594.00 25,176.00 24,142.00 21,975.00 20,942.00
      Property, Plant, Equipment Net 27,122.00 24,713.00 23,703.00 21,543.00 20,504.00
      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 472.00 463.00 439.00 432.00 438.00
Liabilities 27,110.00 24,331.00 24,603.00 23,538.00 21,329.00
   Current Liabilities 9,143.00 8,156.00 9,766.00 8,675.00 6,349.00
      Payables and Expenses 8,024.00 7,076.00 8,765.00 6,264.00 5,324.00
            Account Payables 3,055.00 2,397.00 2,577.00 3,531.00 2,507.00
            Current Accrued Liabilities 0 0 0 2,615.00 0
      Short-Term Debt 1,119.00 1,080.00 1,001.00 1,011.00 1,025.00
      Other Current Liabilities 0.00 0.00 0.00 1,400.00 0.00
   Non-Current Liabilities 17,967.00 16,175.00 14,837.00 14,863.00 14,980.00
      Long-Term Debt 12,383.00 12,234.00 11,292.00 11,525.00 11,540.00
      Other Non-Current Liabilities 5,584.00 3,941.00 3,545.00 3,338.00 3,440.00
Equity 77,584.00 86,623.00 56,325.00 62,666.00 69,398.00
   Shareholders Equity 77,584.00 86,623.00 56,325.00 62,666.00 69,398.00
      Capital Stock 0 0 0 0 0
      Share Premium 255,584.00 252,937.00 212,525.00 210,175.00 207,431.00
      Retained Earnings -178,000.00 -166,314.00 -156,200.00 -147,509.00 -138,033.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 0 0 0
   Minority Interest 0 0 0 0 0
Debt 13,502.00 13,314.00 12,293.00 12,536.00 12,565.00
Net Debt 2,824.00 0 453.00 0 0
Common Shares Outstanding 85,264.15 85,043.20 70,511.48 70,380.57 70,051.58
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31
Non-Interest Expense 2,423.00 2,636.00 2,138.00 2,741.00 2,117.00 0
Operating Expenses 10,730.00 9,648.00 9,308.00 10,274.00 8,290.00 0
   Selling, General and Administrative Expenses 2,423.00 2,636.00 2,138.00 2,741.00 2,117.00 0
   Research and Development Expenses 8,307.00 7,012.00 7,170.00 7,533.00 6,173.00 0
Operating Income -10,730.00 -9,648.00 -9,308.00 -10,274.00 -8,290.00 0
EBT -11,694.00 -10,049.00 -8,592.00 -9,474.00 -6,924.00 0
Income Tax -8.00 65.00 99.00 2.00 0 0
Net Income Including Non-Controlling Interests -11,686.00 -10,114.00 -8,691.00 -9,476.00 -6,924.00 0
Net Income -11,686.00 -10,114.00 -8,691.00 -9,476.00 -6,924.00 0
EBIT -11,201.00 -9,177.00 -9,308.00 -5,673.00 -8,290.00 0
EBITDA -11,201.00 -9,177.00 -9,308.00 -5,673.00 -8,290.00 0
EPS 0 0 -0.00 0 0 -0.00
Diluted EPS 0 0 -0.00 0 0 -0.00
Average Shares Outstanding Basic 0 0 70,450.90 0 0 69,714.25
Average Shares Outstanding Diluted 0 0 70,450.90 0 0 69,714.25
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