Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings -18.41 -6.97 -7.10 -13.40
Price to Sales
Book Value Per Common Share 4.84 4.53 5.48 5.54
Price to Book 5.51 2.42 1.63 2.76
Price to Operating Cash Flow -22.63 -7.58 -9.10 -17.11
Price to Free Cash Flow -22.36 -7.14 -8.24 -16.78
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 -41.59 -38.56 -51.16 -74.14 -55.27 -18.53 -32.33
Price to Sales
Book Value Per Common Share 5.28 5.59 4.51 4.84 5.18 5.73 4.53 5.20 5.48 5.25 5.54 6.22
Price to Book 3.07 2.34 4.87 5.51 5.15 3.18 2.42 1.28 1.63 1.85 2.76 5.22
Price to Operating Cash Flow -49.20 -42.22 -55.28 -91.47 -55.85 -18.49 -38.22 -264.23
Price to Free Cash Flow -49.08 -42.15 -89.77 -55.27 -15.52 -37.14 -261.67
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
EBITDA YoY
Net Profit YoY

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 0.45 1.35 0.41 0.41
Quick Ratio
Current Ratio 19.93 19.50 21.53 26.97
Debt to Equity 0.06 0.07 0.06 0.04
Long-Term Debt to Equity 0.01 0.01 0.01 0.00
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
Cash Per Common Share 5.34 5.66 0.52 0.44 5.25 0.35 1.22 0.76 0.35 0.70 0.31 4.49
Quick Ratio
Current Ratio 26.51 28.87 20.99 19.93 26.35 37.08 19.50 26.22 21.53 26.85 26.97 64.02
Debt to Equity 0.04 0.04 0.06 0.06 0.05 0.04 0.07 0.05 0.06 0.05 0.04 0.02
Long-Term Debt to Equity 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.00 0.00

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA -27.49 -29.46 -18.43 -15.01
ROE -29.14 -31.42 -19.51 -15.60
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 -6.97 -5.89 -8.98 -6.68 -5.15 -6.59 -5.38 -2.19
ROE -7.28 -6.13 -9.49 -6.98 -5.33 -6.95 -5.63 -2.22
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 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 486,817.00 340,035.00 367,101.00 285,233.00
   Current Assets 475,483.00 326,997.00 356,999.00 283,773.00
      Cash and Short-Term Investments 41,666.00 86,097.00 21,993.00 15,566.00
            Cash and Cash Equivalents 41,666.00 86,097.00 21,993.00 15,566.00
            Short-Term Investments 0 0 0 0
      Net Receivables 0 0 0 0
      Inventory 0 0 0 0
      Other Current Assets 433,817.00 240,900.00 335,006.00 268,207.00
   Non-Current Assets 11,334.00 13,038.00 10,102.00 1,460.00
      Property, Plant, Equipment Net 11,072.00 12,690.00 9,851.00 912.00
      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 262.00 348.00 251.00 548.00
Liabilities 27,601.00 21,205.00 20,385.00 10,850.00
   Current Liabilities 23,860.00 16,771.00 16,585.00 10,521.00
      Payables and Expenses 22,864.00 15,791.00 15,977.00 10,521.00
            Account Payables 5,579.00 4,025.00 6,105.00 3,843.00
            Current Accrued Liabilities 17,285.00 11,766.00 9,872.00 6,678.00
      Short-Term Debt 996.00 980.00 608.00 0
      Other Current Liabilities 0.00 0.00 0.00 0.00
   Non-Current Liabilities 3,741.00 4,434.00 3,800.00 329.00
      Long-Term Debt 3,741.00 4,434.00 3,800.00 0
      Other Non-Current Liabilities 0.00 0.00 0.00 0
Equity 459,216.00 318,830.00 346,716.00 274,383.00
   Shareholders Equity 459,216.00 318,830.00 346,716.00 274,383.00
      Capital Stock 9.00 7.00 6.00 5.00
      Share Premium 837,363.00 563,487.00 492,665.00 351,852.00
      Retained Earnings -378,576.00 -244,763.00 -144,600.00 -76,960.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income 420.00 99.00 -1,355.00 -514.00
   Minority Interest 0 0 0 0
Investments 428,504.00 232,296.00 329,954.00 265,223.00
Debt 4,737.00 5,414.00 4,408.00 0
Common Shares Outstanding 94,838.47 70,453.34 63,257.38 49,500.31
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Expenses 158,832.00 114,357.00 71,658.00 43,215.00
   Selling, General and Administrative Expenses 31,866.00 23,452.00 17,626.00 11,026.00
   Research and Development Expenses 126,966.00 90,905.00 54,032.00 32,189.00
   Other Operating Expenses 0.00 0.00 0.00 0.00
Operating Income -158,832.00 -114,357.00 -71,658.00 -43,215.00
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 -133,813.00 -100,163.00 -67,640.00 -42,813.00
Deprecation and Amortization 10,255.00 7,785.00 5.00 272.00
EPS -0.00 -0.00 -0.00 -0.00
Diluted EPS -0.00 -0.00 -0.00 -0.00
Average Shares Outstanding Basic 92,414.63 63,723.60 53,593.75 37,526.33
Average Shares Outstanding Diluted 92,414.63 63,723.60 53,593.75 37,526.33
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow -109,028.00 -91,948.00 -52,635.00 -33,507.00
   Operating Net Income -133,813.00 -100,163.00 -67,640.00 -42,813.00
   Deprecation and Amortization -10,255.00 -7,785.00 -5.00 272.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 24,712.00 17,560.00 10,924.00 4,404.00
   Change in Working Capital 10,328.00 -1,560.00 4,086.00 4,630.00
   Other Operating Activities 0.00 0.00 0.00 0.00
Investing Cash Flow -184,656.00 102,886.00 -70,577.00 -242,227.00
   Capital Expenditure -1,312.00 -5,745.00 -5,546.00 -668.00
   Net Purchase/Sale of PPE -1,312.00 -5,745.00 -5,546.00 -668.00
   Net Purchase/Sale of Investments Net -199,138.00 88,513.00 -95,605.00 -245,003.00
   Net Purchase/Sale of Business 0 0 0 0
   Other Investing Activities 17,106.00 25,863.00 36,120.00 4,112.00
Financing Cash Flow 249,253.00 53,166.00 129,639.00 186,384.00
   Net Issuance/Repayment of Debt 0 0 0 0
   Net Issuance/Repurchase of Equity 249,515.00 53,331.00 129,890.00 186,508.00
   Dividends Paid 0 0 0 0
   Other Financing Activities -262.00 -165.00 -251.00 -124.00
Net Change in Cash -44,431.00 64,104.00 6,427.00 -89,350.00
   Cash at Beginning of Period 86,097.00 21,993.00 15,566.00 104,916.00
   Cash at End of Period 41,666.00 86,097.00 21,993.00 15,566.00
Free Cash Flow -110,340.00 -97,693.00 -58,181.00 -34,175.00
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 583,466.00 613,334.00 454,391.00 486,817.00 511,282.00 553,806.00 340,035.00 346,400.00 367,101.00 272,745.00 285,233.00 311,245.00
   Current Assets 573,900.00 603,255.00 443,178.00 475,483.00 499,436.00 541,427.00 326,997.00 333,363.00 356,999.00 268,617.00 283,773.00 310,545.00
      Cash and Short-Term Investments 563,340.00 593,992.00 49,921.00 41,666.00 492,536.00 30,264.00 86,097.00 48,230.00 21,993.00 34,453.00 15,566.00 221,036.00
            Cash and Cash Equivalents 46,003.00 43,404.00 49,921.00 41,666.00 44,806.00 30,264.00 86,097.00 48,230.00 21,993.00 34,453.00 15,566.00 221,036.00
            Short-Term Investments 517,337.00 550,588.00 0 0 447,730.00 0 0 0 0 0 0 0
      Net Receivables 0 0 0 0 0 0 0 0 0 0 0 0
      Inventory 0 0 0 0 0 0 0 0 0 0 0 0
      Other Current Assets 10,560.00 9,263.00 393,257.00 433,817.00 6,900.00 511,163.00 240,900.00 285,133.00 335,006.00 234,164.00 268,207.00 89,509.00
   Non-Current Assets 9,566.00 10,079.00 11,213.00 11,334.00 11,846.00 12,379.00 13,038.00 13,037.00 10,102.00 4,128.00 1,460.00 700.00
      Property, Plant, Equipment Net 9,566.00 10,079.00 10,518.00 11,072.00 11,584.00 12,379.00 12,690.00 12,786.00 9,851.00 3,569.00 912.00 499.00
      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 0 0 0
      Non-Current Deferred Assets 0 0 0 0 0 0 0 0 0 0 0 0
      Other Non-Current Assets 0.00 0.00 695.00 262.00 262.00 0.00 348.00 251.00 251.00 559.00 548.00 201.00
Liabilities 24,819.00 24,263.00 24,672.00 27,601.00 22,405.00 18,865.00 21,205.00 17,560.00 20,385.00 12,389.00 10,850.00 4,851.00
   Current Liabilities 21,646.00 20,896.00 21,115.00 23,860.00 18,957.00 14,600.00 16,771.00 12,715.00 16,585.00 10,004.00 10,521.00 4,851.00
      Payables and Expenses 12,640.00 14,256.00 20,114.00 22,864.00 11,780.00 13,616.00 15,791.00 11,918.00 15,977.00 10,004.00 10,521.00 4,851.00
            Account Payables 6,157.00 8,320.00 8,789.00 5,579.00 5,649.00 4,723.00 4,025.00 3,875.00 6,105.00 5,340.00 3,843.00 1,621.00
            Current Accrued Liabilities 6,483.00 5,936.00 11,325.00 17,285.00 6,131.00 8,893.00 11,766.00 8,043.00 9,872.00 4,664.00 6,678.00 3,230.00
      Short-Term Debt 1,008.00 1,004.00 1,001.00 996.00 992.00 984.00 980.00 797.00 608.00 0 0 0
      Other Current Liabilities 7,998.00 5,636.00 0.00 0.00 6,185.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
   Non-Current Liabilities 3,173.00 3,367.00 3,557.00 3,741.00 3,448.00 4,265.00 4,434.00 4,845.00 3,800.00 2,385.00 329.00 0.00
      Long-Term Debt 3,173.00 3,367.00 3,557.00 3,741.00 3,448.00 4,265.00 4,434.00 4,845.00 3,800.00 2,198.00 0 0
      Other Non-Current Liabilities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 187.00 0 0
Equity 558,647.00 589,071.00 429,719.00 459,216.00 488,877.00 534,941.00 318,830.00 328,840.00 346,716.00 260,356.00 274,383.00 306,394.00
   Shareholders Equity 558,647.00 589,071.00 429,719.00 459,216.00 488,877.00 534,941.00 318,830.00 328,840.00 346,716.00 260,356.00 274,383.00 306,394.00
      Capital Stock 10.00 10.00 9.00 9.00 9.00 9.00 7.00 6.00 6.00 5.00 5.00 5.00
      Share Premium 1,054,091.00 1,044,346.00 848,683.00 837,363.00 826,731.00 809,081.00 563,487.00 496,523.00 492,665.00 353,903.00 351,852.00 347,405.00
      Retained Earnings -496,155.00 -455,489.00 -419,374.00 -378,576.00 -338,914.00 -273,288.00 -244,763.00 -167,438.00 -144,600.00 -91,620.00 -76,960.00 -40,962.00
      Treasury Shares 0 0 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income 701.00 204.00 401.00 420.00 1,051.00 -861.00 99.00 -251.00 -1,355.00 -1,932.00 -514.00 -54.00
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 386,466.00 428,504.00 0 502,495.00 232,296.00 279,722.00 329,954.00 231,380.00 265,223.00 88,835.00
Debt 4,181.00 4,371.00 4,558.00 4,737.00 4,440.00 5,249.00 5,414.00 5,642.00 4,408.00 2,198.00 0 0
Common Shares Outstanding 105,761.95 105,341.30 95,205.68 94,838.47 94,408.91 93,284.53 70,453.34 63,274.73 63,257.38 49,556.31 49,500.31 49,254.31
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Interest Income 6,192.00 6,495.00 0 0 6,303.00 0 0 0 0 0
Interest Expense 0 0 0.00 0.00 0 0 0.00 0.00 0.00 0.00
Non-Interest Expense 9,378.00 9,052.00 0 0 8,210.00 0 0 0 0 0
Operating Expenses 46,858.00 42,610.00 45,959.00 83,647.00 40,432.00 0 34,753.00 25,704.00 14,826.00 6,857.00
   Selling, General and Administrative Expenses 9,378.00 9,052.00 9,202.00 16,597.00 8,210.00 0 7,059.00 5,828.00 3,702.00 1,497.00
   Research and Development Expenses 37,480.00 33,558.00 36,757.00 67,050.00 32,222.00 0 27,694.00 19,876.00 11,124.00 5,360.00
   Other Operating Expenses 0 0 0.00 0.00 0 0 0.00 0.00 0.00 0.00
Operating Income -46,858.00 -42,610.00 -45,959.00 -83,647.00 -40,432.00 0 -34,753.00 -25,704.00 -14,826.00 -6,857.00
EBT -40,666.00 -36,115.00 0 0 -34,129.00 0 0 0 0 0
Income Tax 0 0 0.00 0.00 0 0 0.00 0.00 0.00 0.00
Net Income Including Non-Controlling Interests -40,666.00 -36,115.00 0 0 -34,129.00 0 0 0 0 0
Net Income -40,666.00 -36,115.00 -40,798.00 -71,159.00 -34,129.00 0 -28,525.00 -22,838.00 -14,660.00 -6,815.00
EBIT -46,858.00 -42,610.00 0 0 -40,432.00 0 0 0 0 0
Deprecation and Amortization 570.00 567.00 1,369.00 7,028.00 602.00 0 2,625.00 1,834.00 797.00 79.00
EBITDA -46,288.00 -42,043.00 0 0 -39,830.00 0 0 0 0 0
EPS -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 0
Diluted EPS -0.00 -0.00 -0.00 0.00 -0.00 -0.00 -0.00 -0.00 -0.00 0
Average Shares Outstanding Basic 105,492.78 104,940.49 95,130.05 94,762.49 93,813.35 93,515.36 87,567.31 63,265.80 49,544.59 0
Average Shares Outstanding Diluted 105,492.78 104,940.49 95,130.05 94,762.49 93,813.35 93,515.36 87,567.31 63,265.80 49,544.59 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 -34,776.00 -32,582.00 -37,866.00 -27,374.00 -28,598.00 -22,826.00 -12,572.00 -6,057.00
   Operating Net Income -40,666.00 -36,115.00 -40,798.00 -34,129.00 -28,525.00 -22,838.00 -14,660.00 -6,815.00
   Deprecation and Amortization 570.00 567.00 -1,369.00 602.00 -2,625.00 -1,834.00 797.00 79.00
   Deferred Income Tax 0 0 0 0 0 0 0 0
   Share Based Compensation 8,085.00 7,733.00 9,059.00 6,880.00 4,871.00 3,837.00 1,978.00 296.00
   Change in Working Capital -709.00 -2,564.00 -4,758.00 2,513.00 -2,319.00 -1,991.00 -687.00 383.00
   Other Operating Activities -2,056.00 -2,203.00 0.00 -3,240.00 0.00 0.00 0.00 0.00
Investing Cash Flow 35,716.00 -162,166.00 43,898.00 25,362.00 -268,308.00 49,042.00 31,386.00 -64,773.00
   Capital Expenditure 0 0 0.00 0 -297.00 -4,368.00 -369.00 -62.00
   Net Purchase/Sale of PPE -89.00 -50.00 0 -520.00 -297.00 -4,368.00 -369.00 -62.00
   Net Purchase/Sale of Investments Net 35,805.00 -162,116.00 28,942.00 25,882.00 -268,896.00 52,803.00 22,923.00 -64,711.00
   Net Purchase/Sale of Business 0 0 0 0 0 0 0 0
   Other Investing Activities 0.00 0.00 14,956.00 0.00 1,182.00 4,975.00 9,201.00 62.00
Financing Cash Flow 1,659.00 188,231.00 2,223.00 3,333.00 241,073.00 21.00 73.00 186,950.00
   Net Issuance/Repayment of Debt 0 0 0 0 0 0 0 0
   Net Issuance/Repurchase of Equity 0 187,362.00 2,261.00 0 241,073.00 21.00 73.00 187,074.00
   Dividends Paid 0 0 0 0 0 0 0 0
   Other Financing Activities 1,659.00 869.00 -38.00 3,333.00 0.00 0.00 0.00 -124.00
Net Change in Cash 2,599.00 -6,517.00 8,255.00 1,321.00 -55,833.00 26,237.00 18,887.00 116,120.00
   Cash at Beginning of Period 43,404.00 49,921.00 41,666.00 43,485.00 86,097.00 21,993.00 15,566.00 0
   Cash at End of Period 46,003.00 43,404.00 49,921.00 44,806.00 30,264.00 48,230.00 34,453.00 0
Free Cash Flow -34,865.00 -32,632.00 0 -27,894.00 -28,895.00 -27,194.00 -12,941.00 -6,119.00