ICCM
Valuation Ratios
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Price to Earnings | -3.74 | -3.41 | -3.43 | -8.88 |
| Price to Sales | 17.32 | 15.42 | 18.95 | 21.45 |
| Book Value Per Common Share | 0.12 | 0.26 | 0.55 | 0.74 |
| Price to Book | 9.19 | 4.10 | 2.84 | 4.13 |
| Price to Operating Cash Flow | -4.54 | -3.97 | -4.09 | -7.04 |
| Price to Free Cash Flow | -4.51 | -3.82 | -3.85 | -6.76 |
| Enterprise Value to EBITDA |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Price to Earnings | -19.96 | ||||
| Price to Sales | 82.52 | 113.13 | 95.59 | 72.37 | 51.26 |
| Book Value Per Common Share | 0.13 | 0.05 | 0.10 | 0.12 | 0.18 |
| Price to Book | 7.52 | 20.61 | 11.71 | 9.19 | 3.39 |
| Price to Operating Cash Flow | -25.89 | -21.18 | -17.09 | -15.11 | -10.80 |
| Price to Free Cash Flow | -25.83 | -21.00 | -17.06 | -15.09 | -10.68 |
| Enterprise Value to EBITDA |
Earnings Data
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Earning YoY | ||||
| Revenue YoY | 1.92 | 4.67 | -25.45 | |
| 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 | 61.90 | -27.59 | -17.14 | 32.18 | |
| EBITDA YoY | |||||
| Net Profit YoY |
Financial Strength
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Cash Per Common Share | 0.15 | 0.24 | 0.63 | 0.88 |
| Quick Ratio | 1.45 | 2.92 | 5.54 | 6.57 |
| Current Ratio | 1.95 | 3.66 | 6.49 | 7.54 |
| Debt to Equity | 0.82 | 0.35 | 0.19 | 0.20 |
| Long-Term Debt to Equity | 0.02 | 0.03 | 0.02 | 0.05 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Cash Per Common Share | 0.15 | 0.09 | 0.10 | 0.13 | 0.19 |
| Quick Ratio | 1.90 | 0.88 | 1.48 | 1.45 | 2.27 |
| Current Ratio | 2.38 | 1.18 | 1.89 | 1.95 | 2.67 |
| Debt to Equity | 0.62 | 2.66 | 0.85 | 0.82 | 0.52 |
| Long-Term Debt to Equity | 0.00 | 0.02 | 0.02 | 0.02 | 0.02 |
Profitability
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| ROA | -121.80 | -89.29 | -56.24 | -30.65 |
| ROE | -221.97 | -120.46 | -66.78 | -36.71 |
| Gross Margin | 44.09 | 40.26 | 46.84 | 53.04 |
| Operating Margin | -476.94 | -482.38 | -542.59 | -234.99 |
| EBITDA Margin | -466.85 | -472.38 | -534.55 | -231.92 |
| Net Profit Margin | -465.45 | -453.76 | -550.34 | -239.13 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| ROA | -25.59 | -31.77 | -32.31 | -35.62 | -27.16 |
| ROE | -41.47 | -116.36 | -59.80 | -64.90 | -41.24 |
| Gross Margin | 32.59 | 24.95 | 30.07 | 47.66 | 35.50 |
| Operating Margin | -451.29 | -644.76 | -504.41 | -517.14 | -648.49 |
| EBITDA Margin | -442.71 | -632.95 | -492.14 | -507.77 | -635.95 |
| Net Profit Margin | -454.00 | -640.76 | -494.90 | -511.89 | -626.74 |
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 | 12,576.00 | 16,410.00 | 30,188.00 | 32,281.00 |
| Current Assets | 10,754.00 | 14,184.00 | 28,130.00 | 30,322.00 |
| Cash and Short-Term Investments | 7,564.00 | 11,062.00 | 23,659.00 | 25,621.00 |
| Cash and Cash Equivalents | 7,564.00 | 10,533.00 | 23,659.00 | 25,621.00 |
| Short-Term Investments | 0 | 529.00 | 0 | 0 |
| Net Receivables | 409.00 | 228.00 | 366.00 | 771.00 |
| Inventory | 1,988.00 | 2,275.00 | 2,857.00 | 1,955.00 |
| Other Current Assets | 793.00 | 619.00 | 1,248.00 | 1,975.00 |
| Non-Current Assets | 1,822.00 | 2,226.00 | 2,058.00 | 1,959.00 |
| Property, Plant, Equipment Net | 1,776.00 | 2,192.00 | 2,024.00 | 1,626.00 |
| 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 | 46.00 | 34.00 | 34.00 | 333.00 |
| Liabilities | 5,675.00 | 4,247.00 | 4,766.00 | 5,323.00 |
| Current Liabilities | 5,514.00 | 3,871.00 | 4,336.00 | 4,020.00 |
| Payables and Expenses | 4,116.00 | 2,784.00 | 2,922.00 | 2,440.00 |
| Account Payables | 1,232.00 | 502.00 | 714.00 | 881.00 |
| Current Accrued Liabilities | 2,884.00 | 2,282.00 | 2,208.00 | 1,559.00 |
| Short-Term Debt | 298.00 | 223.00 | 167.00 | 224.00 |
| Other Current Liabilities | 1,100.00 | 864.00 | 1,247.00 | 1,356.00 |
| Non-Current Liabilities | 161.00 | 376.00 | 430.00 | 1,303.00 |
| Long-Term Debt | 161.00 | 376.00 | 430.00 | 685.00 |
| Other Non-Current Liabilities | 0.00 | 0.00 | 0.00 | 618.00 |
| Equity | 6,901.00 | 12,163.00 | 25,422.00 | 26,958.00 |
| Shareholders Equity | 6,901.00 | 12,163.00 | 25,422.00 | 26,958.00 |
| Capital Stock | 0 | 0 | 0 | 0 |
| Share Premium | 112,280.00 | 102,224.00 | 100,831.00 | 85,389.00 |
| Retained Earnings | -105,379.00 | -90,061.00 | -75,409.00 | -58,431.00 |
| Treasury Shares | 0 | 0 | 0 | 0 |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
| Debt | 459.00 | 599.00 | 597.00 | 909.00 |
| Common Shares Outstanding | 57,652.48 | 46,605.56 | 46,497.27 | 36,465.64 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Revenues | 3,291.00 | 3,229.00 | 3,085.00 | 4,138.00 |
| Cost Of Revenue | 1,840.00 | 1,929.00 | 1,640.00 | 1,943.00 |
| Non-Interest Expense | 10,051.00 | 8,603.00 | 9,061.00 | 6,042.00 |
| Gross Profit | 1,451.00 | 1,300.00 | 1,445.00 | 2,195.00 |
| Operating Expenses | 17,147.00 | 16,876.00 | 18,184.00 | 11,919.00 |
| Selling, General and Administrative Expenses | 10,051.00 | 8,603.00 | 9,061.00 | 6,042.00 |
| Research and Development Expenses | 7,096.00 | 8,273.00 | 9,123.00 | 5,877.00 |
| Operating Income | -15,696.00 | -15,576.00 | -16,739.00 | -9,724.00 |
| EBT | -15,318.00 | -14,652.00 | -16,978.00 | -9,895.00 |
| Income Tax | 0 | 0 | 0 | 0 |
| Net Income Including Non-Controlling Interests | -15,318.00 | -14,652.00 | -16,978.00 | -9,895.00 |
| Net Income | -15,318.00 | -14,652.00 | -16,978.00 | -9,895.00 |
| EBIT | -15,696.00 | -15,576.00 | -16,739.00 | -9,724.00 |
| Deprecation and Amortization | 332.00 | 323.00 | 248.00 | 127.00 |
| EBITDA | -15,364.00 | -15,253.00 | -16,491.00 | -9,597.00 |
| EPS | -0.00 | -0.00 | -0.00 | -0.00 |
| Diluted EPS | -0.00 | -0.00 | -0.00 | -0.00 |
| Average Shares Outstanding Basic | 51,851.25 | 46,512.15 | 37,725.62 | 29,095.48 |
| Average Shares Outstanding Diluted | 51,851.25 | 46,512.15 | 37,725.62 | 29,095.48 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Operating Cash Flow | -12,563.00 | -12,550.00 | -14,292.00 | -12,605.00 |
| Operating Net Income | -15,318.00 | -14,652.00 | -16,978.00 | -9,895.00 |
| Deprecation and Amortization | 332.00 | 323.00 | 248.00 | 127.00 |
| Deferred Income Tax | 0 | 0 | 0 | 0 |
| Share Based Compensation | 869.00 | 1,310.00 | 1,865.00 | 316.00 |
| Change in Working Capital | 1,515.00 | 523.00 | 214.00 | -3,158.00 |
| Other Operating Activities | 39.00 | -54.00 | 359.00 | 5.00 |
| Investing Cash Flow | 446.00 | -684.00 | -891.00 | 3,792.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -71.00 | -480.00 | -891.00 | -533.00 |
| Net Purchase/Sale of Investments Net | 529.00 | -500.00 | 0 | 4,621.00 |
| Net Purchase/Sale of Business | 0 | 0 | 0 | 0 |
| Other Investing Activities | -12.00 | 296.00 | 0.00 | -296.00 |
| Financing Cash Flow | 9,187.00 | 83.00 | 13,577.00 | 30,889.00 |
| Net Issuance/Repayment of Debt | 0 | 0 | 0 | 0 |
| Net Issuance/Repurchase of Equity | 9,187.00 | 0 | 13,575.00 | 30,552.00 |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0 | 0 | 0 | 0 |
| Net Change in Cash | -2,930.00 | -13,151.00 | -1,606.00 | 22,076.00 |
| Cash at Beginning of Period | 10,533.00 | 23,659.00 | 25,621.00 | 3,502.00 |
| Cash at End of Period | 7,564.00 | 10,533.00 | 23,659.00 | 25,621.00 |
| Free Cash Flow | -12,634.00 | -13,030.00 | -15,183.00 | -13,138.00 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Assets | 15,078.00 | 10,589.00 | 11,104.00 | 12,576.00 | 15,278.00 |
| Current Assets | 13,656.00 | 9,020.00 | 9,441.00 | 10,754.00 | 13,339.00 |
| Cash and Short-Term Investments | 10,005.00 | 5,383.00 | 6,040.00 | 7,564.00 | 10,671.00 |
| Cash and Cash Equivalents | 4,971.00 | 5,383.00 | 6,040.00 | 7,564.00 | 10,671.00 |
| Short-Term Investments | 5,034.00 | 0 | 0 | 0 | 0 |
| Net Receivables | 940.00 | 1,308.00 | 1,365.00 | 409.00 | 687.00 |
| Inventory | 2,711.00 | 2,329.00 | 2,036.00 | 1,988.00 | 1,981.00 |
| Other Current Assets | 0.00 | 0.00 | 0.00 | 793.00 | 0.00 |
| Non-Current Assets | 1,422.00 | 1,569.00 | 1,663.00 | 1,822.00 | 1,939.00 |
| Property, Plant, Equipment Net | 1,373.00 | 1,521.00 | 1,618.00 | 1,776.00 | 1,895.00 |
| 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 | 49.00 | 48.00 | 45.00 | 46.00 | 44.00 |
| Liabilities | 5,772.00 | 7,698.00 | 5,104.00 | 5,675.00 | 5,218.00 |
| Current Liabilities | 5,748.00 | 7,639.00 | 4,996.00 | 5,514.00 | 4,996.00 |
| Payables and Expenses | 1,151.00 | 1,161.00 | 953.00 | 4,116.00 | 1,249.00 |
| Account Payables | 1,151.00 | 1,161.00 | 953.00 | 1,232.00 | 1,249.00 |
| Current Accrued Liabilities | 0 | 0 | 0 | 2,884.00 | 0 |
| Short-Term Debt | 264.00 | 2,311.00 | 272.00 | 298.00 | 264.00 |
| Other Current Liabilities | 4,333.00 | 4,167.00 | 3,771.00 | 1,100.00 | 3,483.00 |
| Non-Current Liabilities | 24.00 | 59.00 | 108.00 | 161.00 | 222.00 |
| Long-Term Debt | 24.00 | 59.00 | 108.00 | 161.00 | 222.00 |
| Other Non-Current Liabilities | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Equity | 9,306.00 | 2,891.00 | 6,000.00 | 6,901.00 | 10,060.00 |
| Shareholders Equity | 9,306.00 | 2,891.00 | 6,000.00 | 6,901.00 | 10,060.00 |
| Capital Stock | 0 | 0 | 0 | 0 | 0 |
| Share Premium | 125,496.00 | 115,222.00 | 114,967.00 | 112,280.00 | 110,960.00 |
| Retained Earnings | -116,190.00 | -112,331.00 | -108,967.00 | -105,379.00 | -100,900.00 |
| Treasury Shares | 0 | 0 | 0 | 0 | 0 |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| Debt | 288.00 | 2,370.00 | 380.00 | 459.00 | 486.00 |
| Common Shares Outstanding | 68,963.21 | 59,821.20 | 59,738.97 | 57,652.48 | 55,828.07 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-03-31 |
|---|---|---|---|---|---|---|
| Revenues | 850.00 | 525.00 | 725.00 | 875.00 | 662.00 | 0 |
| Cost Of Revenue | 573.00 | 394.00 | 507.00 | 458.00 | 427.00 | 0 |
| Interest Income | 0 | 21.00 | 69.00 | 0 | 0 | 41.00 |
| Non-Interest Expense | 2,351.00 | 1,805.00 | 2,211.00 | 3,247.00 | 2,663.00 | 0 |
| Gross Profit | 277.00 | 131.00 | 218.00 | 417.00 | 235.00 | 0 |
| Operating Expenses | 4,113.00 | 3,516.00 | 3,875.00 | 4,942.00 | 4,528.00 | 0 |
| Selling, General and Administrative Expenses | 2,351.00 | 1,805.00 | 2,211.00 | 3,247.00 | 2,663.00 | 0 |
| Research and Development Expenses | 1,762.00 | 1,711.00 | 1,664.00 | 1,695.00 | 1,865.00 | 0 |
| Operating Income | -3,836.00 | -3,385.00 | -3,657.00 | -4,525.00 | -4,293.00 | 0 |
| EBT | -3,859.00 | -3,364.00 | -3,588.00 | -4,479.00 | -4,149.00 | 0 |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income Including Non-Controlling Interests | -3,859.00 | -3,364.00 | -3,588.00 | -4,479.00 | -4,149.00 | 0 |
| Net Income | -3,859.00 | -3,364.00 | -3,588.00 | -4,479.00 | -4,149.00 | 0 |
| EBIT | -3,836.00 | -3,385.00 | -3,657.00 | -4,525.00 | -4,293.00 | 0 |
| Deprecation and Amortization | 73.00 | 62.00 | 89.00 | 82.00 | 83.00 | 0 |
| EBITDA | -3,763.00 | -3,323.00 | -3,568.00 | -4,443.00 | -4,210.00 | 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 | 58,743.67 | 0 | 0 | 47,631.18 |
| Average Shares Outstanding Diluted | 0 | 0 | 58,743.67 | 0 | 0 | 47,631.18 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Operating Cash Flow | -2,705.00 | -2,811.00 | -4,039.00 | -4,195.00 | -3,153.00 |
| Operating Net Income | -3,859.00 | -3,364.00 | -3,588.00 | -4,479.00 | -4,149.00 |
| Deprecation and Amortization | 73.00 | 62.00 | 89.00 | 82.00 | 83.00 |
| Deferred Income Tax | 0 | 0 | 0 | 0 | 0 |
| Share Based Compensation | 807.00 | 170.00 | 125.00 | 219.00 | 240.00 |
| Change in Working Capital | 148.00 | 405.00 | -707.00 | -23.00 | 711.00 |
| Other Operating Activities | 126.00 | -84.00 | 42.00 | 6.00 | -38.00 |
| Investing Cash Flow | -5,003.00 | -23.00 | -5.00 | -7.00 | 805.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -3.00 | -22.00 | -6.00 | -5.00 | -32.00 |
| Net Purchase/Sale of Investments Net | -5,000.00 | 0 | 0 | 0 | 837.00 |
| Net Purchase/Sale of Business | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 0.00 | -1.00 | 1.00 | -2.00 | 0.00 |
| Financing Cash Flow | 7,467.00 | 2,085.00 | 2,562.00 | 1,101.00 | 3,359.00 |
| Net Issuance/Repayment of Debt | 0 | 0 | 0 | 0 | 0 |
| Net Issuance/Repurchase of Equity | 9,175.00 | 85.00 | 2,562.00 | 1,101.00 | 3,359.00 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | -1,708.00 | 2,000.00 | 0.00 | 0.00 | 0.00 |
| Net Change in Cash | -241.00 | -749.00 | -1,482.00 | -3,101.00 | 1,011.00 |
| Cash at Beginning of Period | 5,383.00 | 6,040.00 | 7,564.00 | 10,671.00 | 9,652.00 |
| Cash at End of Period | 4,971.00 | 5,383.00 | 6,040.00 | 7,564.00 | 10,671.00 |
| Free Cash Flow | -2,708.00 | -2,833.00 | -4,045.00 | -4,200.00 | -3,185.00 |