Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings -1.53 -1.56 -1.66
Price to Sales
Book Value Per Common Share 0.18 0.38 0.92 2.02 3.42
Price to Book 6.15 4.27 3.26 3.71 2.01
Price to Operating Cash Flow -1.99 -1.96 -1.89 -5.70 -6.75
Price to Free Cash Flow -1.98 -1.95 -1.88 -5.66 -6.67
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 2020-12-31
Price to Earnings -43.57 -25.20 -18.88 -4.47 -7.24 -5.78 -13.93
Price to Sales
Book Value Per Common Share 1.19 0.80 0.83 0.18 0.23 0.43 0.38 0.60 0.92 1.63 2.02 3.14 3.42
Price to Book 2.57 3.15 1.81 6.15 3.91 2.87 4.27 3.49 3.26 3.84 3.71 2.71 2.01
Price to Operating Cash Flow -38.17 -35.74 -16.32 -5.34 -7.14 -5.20 -14.82 -30.34
Price to Free Cash Flow -38.08 -35.59 -16.25 -5.34 -7.10 -14.74 -30.26
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
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 2020-12-31
Earning YoY
Revenue YoY
EBITDA YoY
Net Profit YoY

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Cash Per Common Share 0.35 0.63 1.13 2.19 3.48
Quick Ratio
Current Ratio 2.37 2.09 4.26 8.00 18.78
Debt to Equity 0.71 0.85 0.31 0.17 0.08
Long-Term Debt to Equity 0.01 0.01 0.02 0.03 0.03
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 2020-12-31
Cash Per Common Share 1.67 0.90 0.98 0.28 0.26 0.45 0.55 0.63 1.04 1.77 2.19 3.24 3.48
Quick Ratio
Current Ratio 27.53 12.06 16.19 2.37 3.64 5.92 2.09 4.53 4.26 7.61 8.00 18.20 18.78
Debt to Equity 0.05 0.09 0.07 0.71 0.37 0.19 0.85 0.28 0.31 0.18 0.17 0.08 0.08
Long-Term Debt to Equity 0.01 0.00 0.00 0.01 0.01 0.00 0.01 0.03 0.02 0.03 0.03 0.03 0.03

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA -189.74 -128.98 -138.07 -67.47 -34.89
ROE -324.16 -238.61 -180.66 -78.67 -37.72
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 2020-12-31
ROA -4.38 -10.56 -8.42 -61.73 -32.18 -45.96 -23.31 -9.88
ROE -4.57 -11.53 -8.98 -84.43 -38.45 -58.85 -27.44 -10.69
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
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 2020-12-31
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Assets 6,031.00 8,327.00 9,537.00 16,767.00 26,279.00
   Current Assets 5,819.00 7,921.00 8,814.00 15,879.00 25,253.00
   Deposits 0 0 3.00 0 0
      Cash and Short-Term Investments 5,470.00 6,385.00 8,202.00 15,579.00 24,732.00
            Cash and Cash Equivalents 3,163.00 2,517.00 2,519.00 13,580.00 19,734.00
            Short-Term Investments 2,356.00 3,917.00 5,760.00 1,999.00 4,998.00
      Net Receivables 0 0 0 0 0
      Inventory 0 0 0 0 0
      Other Current Assets 349.00 1,536.00 612.00 300.00 521.00
   Non-Current Assets 212.00 406.00 723.00 888.00 1,026.00
      Property, Plant, Equipment Net 212.00 406.00 723.00 888.00 1,026.00
      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 0.00 0.00 0.00 0.00 0.00
Liabilities 2,501.00 3,826.00 2,248.00 2,386.00 1,971.00
   Current Liabilities 2,460.00 3,786.00 2,069.00 1,984.00 1,345.00
      Payables and Expenses 2,390.00 1,384.00 1,786.00 1,706.00 1,158.00
            Account Payables 165.00 357.00 116.00 279.00 275.00
            Current Accrued Liabilities 2,225.00 1,027.00 1,670.00 1,427.00 883.00
      Short-Term Debt 70.00 191.00 283.00 278.00 187.00
      Other Current Liabilities 0.00 2,211.00 0.00 0.00 0.00
   Non-Current Liabilities 41.00 40.00 179.00 402.00 626.00
      Long-Term Debt 41.00 40.00 179.00 402.00 626.00
      Other Non-Current Liabilities 0.00 0.00 0.00 0.00 0.00
Equity 3,530.00 4,501.00 7,289.00 14,381.00 24,308.00
   Shareholders Equity 3,530.00 4,501.00 7,289.00 14,381.00 24,308.00
      Capital Stock 195.00 118.00 80.00 72.00 72.00
      Share Premium 94,279.00 83,884.00 75,970.00 69,902.00 68,516.00
      Retained Earnings -90,944.00 -79,501.00 -68,761.00 -55,593.00 -44,280.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 0 0 0
   Minority Interest 0 0 0 0 0
Investments 2,356.00 3,917.00 5,760.00 1,999.00 4,998.00
Debt 111.00 231.00 462.00 680.00 813.00
Common Shares Outstanding 19,399.51 11,707.32 7,890.63 7,108.13 7,108.13
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Expenses 11,625.00 9,855.00 13,281.00 11,357.00 9,089.00
   Selling, General and Administrative Expenses 4,995.00 4,131.00 5,545.00 5,204.00 5,693.00
   Research and Development Expenses 6,630.00 5,724.00 7,736.00 6,153.00 3,396.00
   Other Operating Expenses 0.00 0.00 0.00 0.00 0.00
Operating Income -11,625.00 -9,855.00 -13,281.00 -11,357.00 -9,089.00
Interest Expense 0.00 0.00 0.00 0.00 80.00
Net Interest 182.00 228.00 118.00 44.00 -80.00
EBT 0 0 0 0 0
Income Tax 0.00 0.00 0.00 0.00 0.00
Net Income -11,443.00 -10,740.00 -13,168.00 -11,313.00 -9,169.00
Deprecation and Amortization 91.00 106.00 102.00 76.00 68.00
EPS -0.00 -0.00 -0.00 0 0
Diluted EPS -0.00 -0.00 0 0 0
Average Shares Outstanding Basic 15,644.51 10,199.98 7,260.34 0 0
Average Shares Outstanding Diluted 15,644.51 10,199.98 0 0 0
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow -8,827.00 -8,533.00 -11,549.00 -9,354.00 -7,252.00
   Operating Net Income -11,443.00 -10,740.00 -13,168.00 -11,313.00 -9,169.00
   Deprecation and Amortization 91.00 106.00 102.00 76.00 68.00
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation -1,349.00 1,394.00 1,752.00 1,386.00 1,937.00
   Change in Working Capital 942.00 -11.00 -228.00 497.00 -18.00
   Other Operating Activities 2,932.00 718.00 -7.00 0.00 -70.00
Investing Cash Flow 1,537.00 1,973.00 -3,836.00 3,200.00 -2,768.00
   Capital Expenditure -25.00 -33.00 -84.00 -69.00 -91.00
   Net Purchase/Sale of PPE -25.00 -33.00 -84.00 -69.00 -91.00
   Net Purchase/Sale of Investments Net 1,562.00 2,006.00 -3,752.00 2,999.00 -2,677.00
   Net Purchase/Sale of Business 0 0 0 0 0
   Other Investing Activities 25.00 33.00 84.00 339.00 91.00
Financing Cash Flow 7,936.00 6,558.00 4,324.00 0 -3,375.00
   Net Issuance/Repayment of Debt 16.00 16.00 16.00 16.00 0
   Net Issuance/Repurchase of Equity 7,936.00 6,558.00 4,324.00 0 0
   Dividends Paid 0 0 0 0 0
   Other Financing Activities -16.00 -16.00 -16.00 0 -3,375.00
Net Change in Cash 646.00 -2.00 -11,061.00 -6,154.00 -13,395.00
   Cash at Beginning of Period 2,517.00 2,519.00 13,580.00 19,734.00 33,129.00
   Cash at End of Period 3,163.00 2,517.00 2,519.00 13,580.00 19,734.00
Free Cash Flow -8,852.00 -8,566.00 -11,633.00 -9,423.00 -7,343.00
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 2020-12-31
Assets 81,760.00 33,131.00 30,892.00 6,031.00 5,208.00 7,367.00 8,327.00 6,208.00 9,537.00 13,682.00 16,767.00 24,170.00 26,279.00
   Current Assets 80,785.00 32,891.00 30,656.00 5,819.00 4,995.00 7,000.00 7,921.00 5,581.00 8,814.00 12,752.00 15,879.00 23,207.00 25,253.00
   Deposits 0 0 0 0 0 0 0 0 3.00 0 0 0 0
      Cash and Short-Term Investments 80,158.00 32,674.00 30,390.00 5,470.00 4,338.00 6,349.00 6,385.00 5,057.00 8,202.00 12,555.00 15,579.00 23,003.00 24,732.00
            Cash and Cash Equivalents 6,704.00 4,082.00 3,265.00 3,163.00 479.00 1,210.00 2,517.00 2,199.00 2,519.00 10,557.00 13,580.00 18,005.00 19,734.00
            Short-Term Investments 73,454.00 28,592.00 27,173.00 2,356.00 3,859.00 5,187.00 3,917.00 2,907.00 5,760.00 1,998.00 1,999.00 4,998.00 4,998.00
      Net Receivables 0 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 0
      Other Current Assets 0 0 266.00 349.00 657.00 651.00 1,536.00 524.00 612.00 197.00 300.00 204.00 521.00
   Non-Current Assets 975.00 240.00 236.00 212.00 213.00 367.00 406.00 627.00 723.00 930.00 888.00 963.00 1,026.00
      Property, Plant, Equipment Net 975.00 240.00 236.00 212.00 213.00 367.00 406.00 627.00 723.00 930.00 888.00 963.00 1,026.00
      Goodwill 0 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 0
      Long-Term Investments 0 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 0
      Other Non-Current Assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Liabilities 3,536.00 2,774.00 1,941.00 2,501.00 1,400.00 1,200.00 3,826.00 1,360.00 2,248.00 2,061.00 2,386.00 1,840.00 1,971.00
   Current Liabilities 2,934.00 2,727.00 1,893.00 2,460.00 1,371.00 1,183.00 3,786.00 1,233.00 2,069.00 1,675.00 1,984.00 1,275.00 1,345.00
      Payables and Expenses 2,637.00 2,625.00 1,803.00 2,390.00 1,306.00 992.00 1,384.00 967.00 1,786.00 1,359.00 1,706.00 1,102.00 1,158.00
            Account Payables 509.00 503.00 186.00 165.00 246.00 96.00 357.00 224.00 116.00 212.00 279.00 408.00 275.00
            Current Accrued Liabilities 2,128.00 2,122.00 1,617.00 2,225.00 1,060.00 896.00 1,027.00 743.00 1,670.00 1,147.00 1,427.00 694.00 883.00
      Short-Term Debt 297.00 102.00 90.00 70.00 65.00 191.00 191.00 266.00 283.00 316.00 278.00 173.00 187.00
      Other Current Liabilities 0.00 0.00 0.00 0.00 0.00 0.00 2,211.00 0.00 0.00 0.00 0.00 0.00 0.00
   Non-Current Liabilities 602.00 47.00 48.00 41.00 29.00 17.00 40.00 127.00 179.00 386.00 402.00 565.00 626.00
      Long-Term Debt 602.00 47.00 48.00 41.00 29.00 17.00 40.00 127.00 179.00 386.00 402.00 565.00 626.00
      Other Non-Current Liabilities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Equity 78,224.00 30,357.00 28,951.00 3,530.00 3,808.00 6,167.00 4,501.00 4,848.00 7,289.00 11,621.00 14,381.00 22,330.00 24,308.00
   Shareholders Equity 78,224.00 30,357.00 28,951.00 3,530.00 3,808.00 6,167.00 4,501.00 4,848.00 7,289.00 11,621.00 14,381.00 22,330.00 24,308.00
      Capital Stock 659.00 380.00 348.00 195.00 168.00 145.00 118.00 83.00 80.00 72.00 72.00 72.00 72.00
      Share Premium 178,187.00 127,022.00 122,148.00 94,279.00 91,192.00 87,894.00 83,884.00 76,379.00 75,970.00 70,331.00 69,902.00 68,926.00 68,516.00
      Retained Earnings -100,622.00 -97,045.00 -93,545.00 -90,944.00 -87,552.00 -81,872.00 -79,501.00 -71,614.00 -68,761.00 -58,782.00 -55,593.00 -46,668.00 -44,280.00
      Treasury Shares 0 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 0
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 27,173.00 2,356.00 0 5,187.00 3,917.00 2,907.00 5,760.00 1,998.00 1,999.00 4,998.00 4,998.00
Debt 899.00 149.00 138.00 111.00 94.00 208.00 231.00 393.00 462.00 702.00 680.00 738.00 813.00
Common Shares Outstanding 65,833.56 37,958.32 34,744.48 19,399.51 16,651.43 14,398.96 11,707.32 8,130.63 7,890.63 7,108.13 7,108.13 7,108.13 7,108.13
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 0 223.00 0 0 0 46.00 0 0 0 0
Interest Expense 0 0 0.00 0.00 0 0 0.00 0.00 13.00 0.00
Net Interest 0 0 104.00 169.00 0 0 13.00 66.00 -13.00 4.00
Non-Interest Expense 2,690.00 1,612.00 0 0 1,240.00 0 0 0 0 0
Operating Expenses 3,861.00 3,723.00 3,021.00 5,941.00 3,300.00 0 2,384.00 2,919.00 3,176.00 2,392.00
   Selling, General and Administrative Expenses 2,690.00 1,612.00 1,562.00 2,540.00 1,240.00 0 1,215.00 1,302.00 1,470.00 1,273.00
   Research and Development Expenses 1,171.00 2,111.00 1,459.00 3,401.00 2,060.00 0 1,169.00 1,617.00 1,706.00 1,119.00
   Other Operating Expenses 0 0 0.00 0.00 0 0 0.00 0.00 0.00 0.00
Operating Income -3,861.00 -3,723.00 -3,021.00 -5,941.00 -3,300.00 0 -2,384.00 -2,919.00 -3,176.00 -2,392.00
EBT -3,577.00 -3,500.00 0 0 -3,215.00 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 -3,577.00 -3,500.00 0 0 -3,215.00 0 0 0 0 0
Net Income -3,577.00 -3,500.00 -2,601.00 -5,857.00 -3,215.00 0 -2,371.00 -2,853.00 -3,189.00 -2,388.00
EBIT -3,861.00 -3,723.00 0 0 -3,300.00 0 0 0 0 0
Deprecation and Amortization 10.00 12.00 15.00 40.00 23.00 0 28.00 25.00 21.00 18.00
EBITDA -3,851.00 -3,711.00 0 0 -3,277.00 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 0 0
Average Shares Outstanding Basic 48,095.38 36,488.01 31,085.61 17,204.07 16,471.42 14,846.58 14,055.97 8,013.30 7,108.13 0
Average Shares Outstanding Diluted 48,095.38 36,488.01 31,085.61 17,204.07 16,471.42 14,846.58 14,055.97 0 0 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 -3,841.00 -2,573.00 -2,874.00 -2,759.00 -2,420.00 -3,203.00 -3,007.00 -1,994.00
   Operating Net Income -3,577.00 -3,500.00 -2,601.00 -3,215.00 -2,371.00 -2,853.00 -3,189.00 -2,388.00
   Deprecation and Amortization 10.00 12.00 15.00 23.00 28.00 25.00 21.00 18.00
   Deferred Income Tax 0 0 0 0 0 0 0 0
   Share Based Compensation 328.00 237.00 -256.00 283.00 453.00 412.00 429.00 410.00
   Change in Working Capital -439.00 797.00 -544.00 152.00 -765.00 -760.00 -269.00 -34.00
   Other Operating Activities -163.00 -119.00 512.00 -2.00 235.00 -27.00 1.00 0.00
Investing Cash Flow -44,712.00 -1,309.00 -24,830.00 140.00 -1,284.00 2,883.00 -16.00 265.00
   Capital Expenditure 0 0 -13.00 0 -14.00 0.00 -16.00 -5.00
   Net Purchase/Sale of PPE -13.00 -9.00 -13.00 0 -14.00 0 -16.00 -5.00
   Net Purchase/Sale of Investments Net -44,699.00 -1,300.00 -24,817.00 140.00 -1,270.00 2,880.00 0 0
   Net Purchase/Sale of Business 0 0 0 0 0 0 0 0
   Other Investing Activities 0.00 0.00 13.00 0.00 14.00 3.00 16.00 275.00
Financing Cash Flow 51,176.00 4,752.00 27,806.00 633.00 2,397.00 0 0 0
   Net Issuance/Repayment of Debt 0 0 0 0 0 0 0 0
   Net Issuance/Repurchase of Equity 51,175.00 4,752.00 27,806.00 633.00 2,397.00 0 0 0
   Dividends Paid 0 0 0 0 0 0 0 0
   Other Financing Activities 1.00 0.00 0.00 0.00 0.00 0 0 0
Net Change in Cash 2,623.00 870.00 102.00 -1,986.00 -1,307.00 -320.00 -3,023.00 -1,729.00
   Cash at Beginning of Period 4,135.00 3,265.00 3,163.00 2,513.00 2,517.00 2,519.00 13,580.00 19,734.00
   Cash at End of Period 6,758.00 4,135.00 3,265.00 527.00 1,210.00 2,199.00 10,557.00 18,005.00
Free Cash Flow -3,854.00 -2,582.00 -2,887.00 -2,759.00 -2,434.00 0 -3,023.00 -1,999.00