Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings -0.91 -3.68 -1.10 -1.09
Price to Sales 34.02 6.90 3.61
Book Value Per Common Share 1.64 2.85 3.89 5.59
Price to Book 0.90 1.36 0.53 2.13
Price to Operating Cash Flow -1.14 -4.22 -1.46 -5.13
Price to Free Cash Flow -1.14 -4.12 -1.34 -5.07
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 -5.47 -2.73 -2.43 -5.58 -16.62 -7.65 -7.86
Price to Sales 364.04 20.27
Book Value Per Common Share 0.63 0.91 1.28 1.64 2.04 2.72 2.85 3.43 3.89 5.08 5.59 -87.36
Price to Book 3.14 1.19 0.76 0.90 1.04 2.39 1.36 0.76 0.53 0.87 2.13
Price to Operating Cash Flow -5.95 -3.23 -2.30 -7.44 -17.62 -9.14 -8.64
Price to Free Cash Flow -5.95 -3.23 -7.43 -17.50 -8.98 -8.62
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY
Revenue YoY -90.55 21.60
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 -83.38
EBITDA YoY
Net Profit YoY

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 2.56 3.77 4.48 8.54
Quick Ratio 7.00 5.68
Current Ratio 7.45 7.14 5.84 13.56
Debt to Equity 0.73 0.57 0.31 0.17
Long-Term Debt to Equity 0.52 0.40 0.11 0.10
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 1.43 1.73 2.05 2.48 2.81 3.35 3.44 4.25 4.11 5.25 5.77 68.84
Quick Ratio 9.89 6.60 7.00 7.10 5.68
Current Ratio 3.87 5.30 8.09 7.45 10.10 6.71 7.14 7.21 5.84 13.19 13.56 15.69
Debt to Equity 1.69 1.23 0.87 0.73 0.57 0.51 0.57 0.61 0.31 0.18 0.17 0.09
Long-Term Debt to Equity 1.09 0.87 0.67 0.52 0.43 0.33 0.40 0.43 0.11 0.10 0.10 0.02

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA -55.55 -21.37 -33.58 -27.88
ROE -96.08 -33.55 -43.99 -32.71
Gross Margin
Operating Margin -3493.85 -171.63 -328.09
EBITDA Margin -3350.56 -154.89 -312.79
Net Profit Margin -3740.85 -187.37 -328.09
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 -20.56 -19.43 -16.87 -11.91 -9.12 -6.14 -9.32 -8.31
ROE -55.28 -43.37 -31.57 -18.65 -13.77 -9.90 -11.01 -9.03
Gross Margin
Operating Margin -2047.17 -268.41
EBITDA Margin -1933.96 -251.37
Net Profit Margin -2182.35 -268.41

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 126,929.00 174,833.00 160,245.00 179,250.00
   Current Assets 113,066.00 138,370.00 140,200.00 161,068.00
      Cash and Short-Term Investments 110,995.00 134,343.00 129,315.00 157,531.00
            Cash and Cash Equivalents 110,995.00 134,343.00 129,315.00 157,531.00
            Short-Term Investments 0 0 0 0
      Net Receivables 0 1,350.00 6,928.00 0
      Inventory 0 0 0 0
      Other Current Assets 2,071.00 2,677.00 3,957.00 3,537.00
   Non-Current Assets 13,863.00 36,463.00 20,045.00 18,182.00
      Property, Plant, Equipment Net 12,323.00 14,846.00 17,451.00 16,325.00
      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 1,540.00 21,617.00 2,594.00 1,857.00
Liabilities 53,539.00 63,459.00 37,908.00 26,463.00
   Current Liabilities 15,180.00 19,378.00 23,989.00 11,874.00
      Payables and Expenses 13,623.00 10,196.00 15,373.00 10,802.00
            Account Payables 3,035.00 1,336.00 1,221.00 2,037.00
            Current Accrued Liabilities 10,588.00 8,860.00 14,152.00 8,765.00
      Short-Term Debt 1,557.00 8,275.00 2,084.00 1,072.00
      Other Current Liabilities 0.00 907.00 6,532.00 0.00
   Non-Current Liabilities 38,359.00 44,081.00 13,919.00 14,589.00
      Long-Term Debt 35,530.00 43,648.00 12,600.00 14,589.00
      Other Non-Current Liabilities 2,829.00 433.00 1,319.00 0.00
Equity 73,390.00 111,374.00 122,337.00 152,787.00
   Shareholders Equity 73,390.00 111,374.00 122,337.00 152,787.00
      Capital Stock 5.00 4.00 3.00 2.00
      Share Premium 487,973.00 455,443.00 429,039.00 405,680.00
      Retained Earnings -414,588.00 -344,073.00 -306,705.00 -252,895.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 0 0
   Minority Interest 0 0 0 0
Debt 37,087.00 51,923.00 14,684.00 15,661.00
Common Shares Outstanding 44,827.16 39,107.05 31,434.00 27,313.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 1,885.00 19,943.00 16,401.00 0
Operating Expenses 75,479.00 60,446.00 72,457.00 50,087.00
   Selling, General and Administrative Expenses 19,045.00 18,670.00 18,696.00 14,818.00
   Research and Development Expenses 56,434.00 41,776.00 53,761.00 35,269.00
   Other Operating Expenses 0.00 0.00 0.00 0.00
Operating Income -73,594.00 -40,503.00 -56,056.00 -50,087.00
Net Non-Operating Income 3,079.00 3,135.00 2,246.00 104.00
Interest Income 11,329.00 10,555.00 0 0
Interest Expense 4,656.00 3,139.00 0.00 0.00
Net Interest 6,673.00 7,416.00 0 0
EBT -70,515.00 -37,368.00 -53,810.00 -49,983.00
Income Tax 0.00 0.00 0.00 0.00
Net Income -70,515.00 -37,368.00 -53,810.00 -49,983.00
EBIT -65,859.00 -34,229.00 -53,810.00 -49,983.00
Deprecation and Amortization 2,701.00 3,339.00 2,510.00 735.00
EBITDA -63,158.00 -30,890.00 -51,300.00 -49,248.00
EPS -0.00 -0.00 -0.00 -0.01
Diluted EPS -0.00 -0.00 -0.00 -0.01
Average Shares Outstanding Basic 43,332.09 35,646.57 28,864.00 18,455.00
Average Shares Outstanding Diluted 43,859.66 35,646.57 28,864.00 18,455.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow -56,188.00 -32,612.00 -40,596.00 -42,876.00
   Operating Net Income -70,515.00 -37,368.00 -53,810.00 -49,983.00
   Deprecation and Amortization 2,701.00 3,339.00 2,510.00 735.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 8,826.00 8,008.00 7,400.00 4,095.00
   Change in Working Capital -929.00 -1,559.00 3,516.00 2,518.00
   Other Operating Activities 3,729.00 -5,032.00 -212.00 -241.00
Investing Cash Flow -254.00 -769.00 -3,611.00 -498.00
   Capital Expenditure -254.00 -769.00 -3,611.00 -498.00
   Net Purchase/Sale of PPE -254.00 -769.00 -3,611.00 -498.00
   Net Purchase/Sale of Investments Net 0 0 0 0
   Net Purchase/Sale of Business 0 0 0 0
   Other Investing Activities 254.00 769.00 3,611.00 498.00
Financing Cash Flow 13,080.00 58,429.00 15,906.00 109,427.00
   Net Issuance/Repayment of Debt 30,000.00 40,000.00 0 0
   Net Issuance/Repurchase of Equity 23,753.00 18,429.00 16,445.00 111,805.00
   Dividends Paid 0 0 0 0
   Other Financing Activities -40,673.00 0.00 -539.00 -2,378.00
Net Change in Cash -43,362.00 25,048.00 -28,301.00 66,053.00
   Cash at Beginning of Period 155,577.00 130,529.00 158,830.00 92,777.00
   Cash at End of Period 112,215.00 155,577.00 130,529.00 158,830.00
Free Cash Flow -56,442.00 -33,381.00 -44,207.00 -43,374.00
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 79,627.00 92,566.00 107,236.00 126,929.00 140,036.00 177,600.00 174,833.00 195,069.00 160,245.00 164,631.00 179,250.00 89,436.00
   Current Assets 68,173.00 80,439.00 94,457.00 113,066.00 125,835.00 142,284.00 138,370.00 156,562.00 140,200.00 145,436.00 161,068.00 84,865.00
      Cash and Short-Term Investments 65,711.00 77,596.00 92,042.00 110,995.00 122,827.00 139,189.00 134,343.00 147,868.00 129,315.00 143,711.00 157,531.00 84,602.00
            Cash and Cash Equivalents 65,711.00 77,596.00 92,042.00 110,995.00 122,827.00 139,189.00 134,343.00 147,868.00 129,315.00 143,711.00 157,531.00 84,602.00
            Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0
      Net Receivables 0 0 0 0 464.00 775.00 1,350.00 6,255.00 6,928.00 0 0 0
      Inventory 0 0 0 0 0 0 0 0 0 0 0 0
      Other Current Assets 0 0 2,415.00 2,071.00 2,544.00 2,320.00 2,677.00 2,439.00 3,957.00 1,725.00 3,537.00 263.00
   Non-Current Assets 11,454.00 12,127.00 12,779.00 13,863.00 14,201.00 35,316.00 36,463.00 38,507.00 20,045.00 19,195.00 18,182.00 4,571.00
      Property, Plant, Equipment Net 10,510.00 11,110.00 11,709.00 12,323.00 12,943.00 14,041.00 14,846.00 16,826.00 17,451.00 17,345.00 16,325.00 2,999.00
      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 944.00 1,017.00 1,070.00 1,540.00 1,258.00 21,275.00 21,617.00 21,681.00 2,594.00 1,850.00 1,857.00 1,572.00
Liabilities 50,013.00 51,102.00 49,929.00 53,539.00 50,657.00 60,013.00 63,459.00 73,996.00 37,908.00 25,313.00 26,463.00 7,092.00
   Current Liabilities 17,603.00 15,171.00 11,669.00 15,180.00 12,464.00 21,214.00 19,378.00 21,722.00 23,989.00 11,028.00 11,874.00 5,409.00
      Payables and Expenses 7,081.00 8,972.00 10,257.00 13,623.00 8,344.00 7,809.00 10,196.00 15,427.00 15,373.00 9,570.00 10,802.00 4,690.00
            Account Payables 1,078.00 2,774.00 986.00 3,035.00 1,240.00 1,594.00 1,336.00 2,106.00 1,221.00 1,381.00 2,037.00 1,800.00
            Current Accrued Liabilities 6,003.00 6,198.00 9,271.00 10,588.00 7,104.00 6,215.00 8,860.00 13,321.00 14,152.00 8,189.00 8,765.00 2,890.00
      Short-Term Debt 7,504.00 3,854.00 1,412.00 1,557.00 1,320.00 12,903.00 8,275.00 2,146.00 2,084.00 1,458.00 1,072.00 699.00
      Other Current Liabilities 3,018.00 2,345.00 0.00 0.00 2,800.00 502.00 907.00 4,149.00 6,532.00 0.00 0.00 20.00
   Non-Current Liabilities 32,410.00 35,931.00 38,260.00 38,359.00 38,193.00 38,799.00 44,081.00 52,274.00 13,919.00 14,285.00 14,589.00 1,683.00
      Long-Term Debt 29,796.00 33,292.00 35,602.00 35,530.00 35,458.00 38,368.00 43,648.00 51,106.00 12,600.00 14,285.00 14,589.00 1,683.00
      Other Non-Current Liabilities 2,614.00 2,639.00 2,658.00 2,829.00 2,735.00 431.00 433.00 1,168.00 1,319.00 0.00 0.00 0.00
Equity 29,614.00 41,464.00 57,307.00 73,390.00 89,379.00 117,587.00 111,374.00 121,073.00 122,337.00 139,318.00 152,787.00 82,344.00
   Shareholders Equity 29,614.00 41,464.00 57,307.00 73,390.00 89,379.00 117,587.00 111,374.00 121,073.00 122,337.00 139,318.00 152,787.00 -153,754.00
      Capital Stock 5.00 5.00 5.00 5.00 4.00 4.00 4.00 3.00 3.00 2.00 2.00 2.00
      Share Premium 496,638.00 492,118.00 489,979.00 487,973.00 483,563.00 477,849.00 455,443.00 439,757.00 429,039.00 407,554.00 405,680.00 0
      Retained Earnings -467,029.00 -450,659.00 -432,677.00 -414,588.00 -394,188.00 -360,266.00 -344,073.00 -318,687.00 -306,705.00 -268,238.00 -252,895.00 -153,756.00
      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 0 0 0 0
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0 0
Debt 37,300.00 37,146.00 37,014.00 37,087.00 36,778.00 51,271.00 51,923.00 53,252.00 14,684.00 15,743.00 15,661.00 2,382.00
Common Shares Outstanding 47,273.68 45,335.26 44,827.16 44,827.16 43,721.77 43,282.37 39,107.05 35,301.00 31,434.00 27,420.00 27,313.00 1,760.00
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 0.00 0 742.00 4,464.00 0 0
Interest Income 697.00 850.00 2,260.00 1,598.00 2,976.00 0 0 0
Interest Expense 1,341.00 1,301.00 1,263.00 1,244.00 1,003.00 0.00 0.00 0.00
Net Interest 0 0 997.00 0 1,973.00 0 0 0
Non-Interest Expense 4,092.00 4,399.00 0 4,596.00 0 0 0 0
Operating Expenses 15,726.00 17,542.00 17,991.00 17,124.00 17,904.00 16,687.00 15,366.00 7,452.00
   Selling, General and Administrative Expenses 4,092.00 4,399.00 4,871.00 4,596.00 4,996.00 4,981.00 4,421.00 2,635.00
   Research and Development Expenses 11,634.00 13,143.00 13,120.00 12,528.00 12,908.00 11,706.00 10,945.00 4,817.00
   Other Operating Expenses 0 0 0.00 0 0.00 0.00 0.00 0.00
Operating Income -15,726.00 -17,542.00 -17,991.00 -17,124.00 -17,162.00 -12,223.00 -15,366.00 -7,452.00
Net Non-Operating Income 0 11.00 -98.00 97.00 969.00 241.00 23.00 17.00
EBT -16,370.00 -17,982.00 -18,089.00 -16,673.00 -16,193.00 -11,982.00 -15,343.00 -7,435.00
Income Tax 0 0 0.00 0 0.00 0.00 0.00 0.00
Net Income Including Non-Controlling Interests -16,370.00 -17,982.00 0 -16,673.00 0 0 0 0
Net Income -16,370.00 -17,982.00 -18,089.00 -16,673.00 -16,193.00 -11,982.00 -15,343.00 -7,435.00
EBIT -15,029.00 -16,681.00 -16,826.00 -15,429.00 -15,190.00 -11,982.00 -15,343.00 -7,435.00
Deprecation and Amortization 402.00 406.00 614.00 454.00 840.00 761.00 481.00 205.00
EBITDA -14,627.00 -16,275.00 -16,212.00 -14,975.00 -14,350.00 -11,221.00 -14,862.00 -7,230.00
EPS -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.08
Diluted EPS -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.08
Average Shares Outstanding Basic 45,804.04 44,981.75 44,827.16 43,704.84 41,607.28 34,785.00 27,393.00 1,229.00
Average Shares Outstanding Diluted 45,804.04 44,981.75 44,827.16 43,704.84 41,607.28 34,785.00 27,393.00 1,229.00
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 -15,156.00 -15,164.00 -18,948.00 -12,462.00 -15,297.00 -9,898.00 -13,951.00 -7,326.00
   Operating Net Income -16,370.00 -17,982.00 -18,089.00 -16,673.00 -16,193.00 -11,982.00 -15,343.00 -7,435.00
   Deprecation and Amortization 402.00 406.00 614.00 454.00 840.00 761.00 481.00 205.00
   Deferred Income Tax 0 0 0 0 0 0 0 0
   Share Based Compensation 1,233.00 1,793.00 2,006.00 2,011.00 2,305.00 2,108.00 1,745.00 539.00
   Change in Working Capital -1,145.00 -75.00 -432.00 1,229.00 128.00 -363.00 -916.00 -635.00
   Other Operating Activities 724.00 694.00 -3,047.00 517.00 -2,377.00 -422.00 82.00 0.00
Investing Cash Flow 0 0 0 -3.00 -111.00 -168.00 -28.00 -13.00
   Capital Expenditure 0 0 0.00 0 -111.00 -168.00 -28.00 -13.00
   Net Purchase/Sale of PPE 0 0 0 -3.00 -111.00 -168.00 -28.00 -13.00
   Net Purchase/Sale of Investments Net 0 0 0 0 0 0 0 0
   Net Purchase/Sale of Business 0 0 0 0 0 0 0 0
   Other Investing Activities 0 0 0 0.00 111.00 168.00 28.00 13.00
Financing Cash Flow 3,274.00 388.00 0 -6.00 20,259.00 48,623.00 159.00 -538.00
   Net Issuance/Repayment of Debt 0 0 0 0 0 0 0 0
   Net Issuance/Repurchase of Equity 3,274.00 347.00 0 -29.00 20,259.00 48,713.00 159.00 21.00
   Dividends Paid 0 0 0 0 0 0 0 0
   Other Financing Activities 0.00 0 0 23.00 0.00 -90.00 0.00 -559.00
Net Change in Cash -11,882.00 -14,776.00 -18,948.00 -12,471.00 4,851.00 38,557.00 -13,820.00 -7,877.00
   Cash at Beginning of Period 78,491.00 93,267.00 112,215.00 136,514.00 155,577.00 130,529.00 158,830.00 92,777.00
   Cash at End of Period 66,609.00 78,491.00 93,267.00 124,043.00 160,428.00 169,086.00 145,010.00 84,900.00
Free Cash Flow -15,156.00 -15,164.00 0 -12,465.00 -15,408.00 -10,066.00 -13,979.00 -7,339.00