Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings 75.80 -16.62
Price to Sales 3.82 5.50
Book Value Per Common Share 2.15 2.39 2.72 2.91
Price to Book 1.76 2.92
Price to Operating Cash Flow 33.30 176.26
Price to Free Cash Flow 52.42 438.99
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings -528.00 -206.00 -75.80 -82.00
Price to Sales 14.51 17.89 14.85 14.04 19.50
Book Value Per Common Share 1.87 1.88 2.05 2.15 2.17
Price to Book 2.83 3.11 2.01 1.76 2.26
Price to Operating Cash Flow 27.30 214.34 207.04 77.03 341.67
Price to Free Cash Flow 30.17 577.23 777.36 92.89 833.90
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY
Revenue YoY -25.02 -9.63 44.67
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 8.59 8.14 2.42 6.11
EBITDA YoY
Net Profit YoY

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 2.16 2.35 2.98 4.72
Quick Ratio 3.29 4.04 6.03 7.43
Current Ratio 3.37 4.13 6.18 7.56
Debt to Equity 0.35 0.28 0.20 0.16
Long-Term Debt to Equity 0.01 0.01 0.01 0.01
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 1.85 1.78 1.97 2.19 2.18
Quick Ratio 1.46 2.65 3.07 3.29 3.56
Current Ratio 1.88 2.74 3.18 3.37 3.66
Debt to Equity 0.77 0.44 0.37 0.35 0.31
Long-Term Debt to Equity 0.01 0.01 0.01 0.01 0.01

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA 1.86 -14.03 -10.44 -8.96
ROE 2.51 -17.93 -12.54 -10.42
Gross Margin 69.40 48.73 42.77 44.80
Operating Margin -4.83 -41.86 -28.04 -31.33
EBITDA Margin -1.38 -40.27 -27.53 -30.64
Net Profit Margin 5.38 -32.97 -24.70 -31.70
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA -0.24 -0.05 -0.61 -1.85 -1.99
ROE -0.43 -0.08 -0.84 -2.50 -2.61
Gross Margin 70.15 69.19 70.95 72.32 70.43
Operating Margin -6.35 -6.14 -13.33 -27.56 -33.00
EBITDA Margin -2.05 -1.71 -9.50 -23.50 -29.53
Net Profit Margin -2.22 -0.43 -5.94 -19.97 -22.38

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 1,463,204.00 1,589,691.00 1,770,346.00 1,830,378.00
   Current Assets 1,249,297.00 1,388,698.00 1,746,769.00 1,798,725.00
      Cash and Short-Term Investments 1,102,425.00 1,249,696.00 1,624,704.00 1,712,072.00
            Cash and Cash Equivalents 923,016.00 980,972.00 1,183,846.00 1,247,581.00
            Short-Term Investments 179,409.00 268,724.00 440,858.00 464,491.00
      Net Receivables 118,590.00 109,187.00 80,862.00 56,194.00
      Inventory 3,676.00 4,309.00 5,150.00 3,940.00
      Other Current Assets 24,606.00 25,506.00 36,053.00 26,519.00
   Non-Current Assets 213,907.00 200,993.00 23,577.00 31,653.00
      Property, Plant, Equipment Net 40,235.00 25,252.00 16,455.00 20,983.00
      Goodwill 123,523.00 123,523.00 0 0
      Intangible Assets 29,774.00 35,631.00 0 0
      Long-Term Investments 0 0 0 8,384.00
      Non-Current Deferred Assets 396.00 495.00 1,207.00 0
      Other Non-Current Assets 0 0 0 0
Liabilities 378,186.00 346,296.00 297,390.00 256,952.00
   Current Liabilities 370,985.00 336,579.00 282,879.00 237,968.00
      Payables and Expenses 297,428.00 267,101.00 218,675.00 179,547.00
            Account Payables 193,926.00 175,065.00 145,992.00 123,872.00
            Current Accrued Liabilities 98,068.00 87,107.00 67,705.00 52,435.00
      Short-Term Debt 12,348.00 11,800.00 3,394.00 3,021.00
      Other Current Liabilities 61,209.00 57,678.00 60,810.00 55,400.00
   Non-Current Liabilities 7,201.00 9,717.00 14,511.00 18,984.00
      Long-Term Debt 870.00 5,126.00 9,034.00 12,427.00
      Other Non-Current Liabilities 6,331.00 4,591.00 5,477.00 6,557.00
Equity 1,085,018.00 1,243,395.00 1,472,956.00 1,573,426.00
   Shareholders Equity 1,085,018.00 1,243,395.00 1,472,956.00 1,573,426.00
      Capital Stock 50.00 52.00 53.00 54.00
      Share Premium 1,883,190.00 2,067,776.00 2,082,373.00 1,993,055.00
      Retained Earnings -797,908.00 -825,195.00 -602,233.00 -417,453.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income -314.00 762.00 -7,237.00 -2,230.00
   Minority Interest 0 0 0 0
Debt 13,218.00 16,926.00 12,428.00 15,448.00
Common Shares Outstanding 504,296.00 520,342.97 541,364.10 541,383.52
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 506,995.00 676,171.00 748,206.00 517,175.00
Cost Of Revenue 155,146.00 346,657.00 428,205.00 285,470.00
Non-Interest Expense 282,016.00 528,201.00 447,082.00 343,024.00
Gross Profit 351,849.00 329,514.00 320,001.00 231,705.00
Operating Expenses 376,315.00 612,529.00 529,809.00 393,711.00
   Selling, General and Administrative Expenses 282,016.00 528,201.00 447,082.00 343,024.00
   Other Operating Expenses 76,839.00 73,587.00 78,874.00 47,153.00
Operating Income -24,466.00 -283,015.00 -209,808.00 -162,006.00
Net Non-Operating Income 52,546.00 52,440.00 24,926.00 -2,563.00
EBT 28,080.00 -230,575.00 -184,882.00 -164,569.00
Income Tax 793.00 -7,613.00 -102.00 -640.00
Net Income Including Non-Controlling Interests 27,287.00 -222,962.00 -184,780.00 -163,929.00
Net Income 27,287.00 -222,962.00 -184,780.00 -163,929.00
EBIT -24,466.00 -283,015.00 -209,808.00 -162,006.00
Deprecation and Amortization 17,460.00 10,741.00 3,853.00 3,534.00
EBITDA -7,006.00 -272,274.00 -205,955.00 -158,472.00
EPS 0.00 -0.00 -0.00 -0.00
Diluted EPS 0.00 -0.00 -0.00 -0.00
Average Shares Outstanding Basic 511,065.00 532,540.18 545,397.25 362,756.47
Average Shares Outstanding Diluted 518,845.00 532,540.18 545,397.25 362,756.47
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow 58,170.00 21,104.00 -12,966.00 56,972.00
   Operating Net Income 27,287.00 -222,962.00 -184,780.00 -163,929.00
   Deprecation and Amortization 17,460.00 10,741.00 3,853.00 3,534.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 136,562.00 127,525.00 107,529.00 142,660.00
   Change in Working Capital 21,285.00 21,388.00 10,284.00 68,320.00
   Other Operating Activities -144,424.00 84,412.00 50,148.00 6,387.00
Investing Cash Flow 70,788.00 38,516.00 28,718.00 -329,121.00
   Capital Expenditure -18,794.00 -11,889.00 0 0
   Net Purchase/Sale of PPE -2,418.00 -762.00 -2,319.00 -2,743.00
   Net Purchase/Sale of Investments Net 92,000.00 186,944.00 6,905.00 -306,378.00
   Net Purchase/Sale of Business 0 -135,777.00 25,732.00 -20,000.00
   Other Investing Activities 0.00 0.00 -1,600.00 0.00
Financing Cash Flow -186,914.00 -261,794.00 -79,487.00 1,299,297.00
   Net Issuance/Repayment of Debt 0 0 0 0
   Net Issuance/Repurchase of Equity 0 0 -78,136.00 1,319,809.00
   Dividends Paid 0 0 0 0
   Other Financing Activities 0 0 0 -20,512.00
Net Change in Cash -57,956.00 -202,174.00 -63,735.00 1,027,148.00
   Cash at Beginning of Period 989,472.00 1,191,646.00 1,255,381.00 228,233.00
   Cash at End of Period 931,516.00 989,472.00 1,191,646.00 1,255,381.00
Free Cash Flow 36,958.00 8,453.00 -16,885.00 54,229.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 1,488,430.00 1,214,590.00 1,349,627.00 1,463,204.00 1,435,836.00
   Current Assets 1,200,006.00 990,233.00 1,134,657.00 1,249,297.00 1,221,164.00
      Cash and Short-Term Investments 830,460.00 821,587.00 988,437.00 1,102,425.00 1,103,986.00
            Cash and Cash Equivalents 747,248.00 732,722.00 830,897.00 923,016.00 886,417.00
            Short-Term Investments 83,212.00 88,865.00 157,540.00 179,409.00 217,569.00
      Net Receivables 100,504.00 137,240.00 107,777.00 118,590.00 84,857.00
      Inventory 0 0 0 3,676.00 0
      Other Current Assets 0 0 0 24,606.00 0
   Non-Current Assets 288,424.00 224,357.00 214,970.00 213,907.00 214,672.00
      Property, Plant, Equipment Net 63,459.00 55,392.00 44,757.00 40,235.00 40,685.00
      Goodwill 154,478.00 123,523.00 123,523.00 123,523.00 123,523.00
      Intangible Assets 53,643.00 26,845.00 28,310.00 29,774.00 31,238.00
      Long-Term Investments 0 0 0 0 0
      Non-Current Deferred Assets 0 0 0 396.00 0
      Other Non-Current Assets 0 0 0 19,979.00 0
Liabilities 649,201.00 371,157.00 362,367.00 378,186.00 340,178.00
   Current Liabilities 636,768.00 361,296.00 356,973.00 370,985.00 333,573.00
      Payables and Expenses 570,203.00 316,843.00 319,818.00 297,428.00 269,529.00
            Account Payables 206,494.00 203,080.00 210,965.00 193,926.00 168,107.00
            Current Accrued Liabilities 121,850.00 106,216.00 102,172.00 98,068.00 95,649.00
      Short-Term Debt 10,786.00 11,482.00 12,088.00 12,348.00 12,484.00
      Other Current Liabilities 55,779.00 32,971.00 25,067.00 61,209.00 51,560.00
   Non-Current Liabilities 12,433.00 9,861.00 5,394.00 7,201.00 6,605.00
      Long-Term Debt 4,843.00 2,976.00 26.00 870.00 2,082.00
      Other Non-Current Liabilities 7,590.00 6,885.00 5,368.00 6,331.00 4,523.00
Equity 839,229.00 843,433.00 987,260.00 1,085,018.00 1,095,658.00
   Shareholders Equity 839,229.00 843,433.00 987,260.00 1,085,018.00 1,095,658.00
      Capital Stock 45.00 45.00 48.00 50.00 50.00
      Share Premium 1,648,226.00 1,650,305.00 1,793,656.00 1,883,190.00 1,865,565.00
      Retained Earnings -810,439.00 -806,815.00 -806,168.00 -797,908.00 -770,790.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income 1,397.00 -102.00 -276.00 -314.00 833.00
   Minority Interest 0 0 0 0 0
Debt 15,629.00 14,458.00 12,114.00 13,218.00 14,566.00
Common Shares Outstanding 449,345.00 449,459.00 480,978.00 504,296.00 504,150.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 163,306.00 150,392.00 139,073.00 135,790.00 127,967.00
Cost Of Revenue 48,749.00 46,331.00 40,394.00 37,587.00 37,835.00
Non-Interest Expense 92,342.00 87,182.00 93,131.00 108,912.00 107,483.00
Gross Profit 114,557.00 104,061.00 98,679.00 98,203.00 90,132.00
Operating Expenses 124,927.00 113,289.00 117,217.00 135,628.00 132,363.00
   Selling, General and Administrative Expenses 92,342.00 87,182.00 93,131.00 108,912.00 107,483.00
   Other Operating Expenses 25,566.00 19,454.00 18,755.00 21,197.00 20,432.00
Operating Income -10,370.00 -9,228.00 -18,538.00 -37,425.00 -42,231.00
Net Non-Operating Income 7,244.00 8,787.00 10,513.00 10,701.00 13,703.00
EBT -3,126.00 -441.00 -8,025.00 -26,724.00 -28,528.00
Income Tax 498.00 206.00 235.00 394.00 115.00
Net Income Including Non-Controlling Interests -3,624.00 -647.00 -8,260.00 -27,118.00 -28,643.00
Net Income -3,624.00 -647.00 -8,260.00 -27,118.00 -28,643.00
EBIT -10,370.00 -9,228.00 -18,538.00 -37,425.00 -42,231.00
Deprecation and Amortization 7,019.00 6,653.00 5,331.00 5,519.00 4,448.00
EBITDA -3,351.00 -2,575.00 -13,207.00 -31,906.00 -37,783.00
EPS -0.00 0 -0.00 -0.00 -0.00
Diluted EPS -0.00 0 -0.00 -0.00 -0.00
Average Shares Outstanding Basic 448,717.00 461,517.00 501,222.00 502,929.00 507,160.00
Average Shares Outstanding Diluted 448,717.00 461,517.00 501,222.00 502,929.00 507,160.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Operating Cash Flow 86,767.00 12,547.00 9,987.00 24,755.00 7,281.00
   Operating Net Income -3,624.00 -647.00 -8,260.00 -27,118.00 -28,643.00
   Deprecation and Amortization 7,019.00 6,653.00 5,331.00 5,519.00 4,448.00
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation 25,704.00 27,070.00 25,915.00 33,304.00 35,654.00
   Change in Working Capital 52,574.00 -21,333.00 -13,502.00 11,552.00 -4,483.00
   Other Operating Activities 5,094.00 804.00 503.00 1,498.00 305.00
Investing Cash Flow 182,520.00 60,858.00 14,861.00 33,747.00 9,705.00
   Capital Expenditure -7,872.00 -7,539.00 -6,059.00 -4,217.00 -4,106.00
   Net Purchase/Sale of PPE -391.00 -335.00 -1,266.00 -36.00 -189.00
   Net Purchase/Sale of Investments Net 5,741.00 68,732.00 22,186.00 38,000.00 14,000.00
   Net Purchase/Sale of Business 0 0 0 0 0
   Other Investing Activities 0 0 0 0.00 0.00
Financing Cash Flow -27,848.00 -171,579.00 -116,967.00 -21,903.00 -55,299.00
   Net Issuance/Repayment of Debt 0 0 0 0 0
   Net Issuance/Repurchase of Equity -19,555.00 -163,923.00 -111,310.00 -16,707.00 -46,556.00
   Dividends Paid 0 0 0 0 0
   Other Financing Activities -8,293.00 -7,656.00 -5,657.00 -5,196.00 -8,743.00
Net Change in Cash 241,439.00 -98,174.00 -92,119.00 36,599.00 -38,313.00
   Cash at Beginning of Period 741,223.00 839,397.00 931,516.00 894,917.00 933,230.00
   Cash at End of Period 982,662.00 741,223.00 839,397.00 931,516.00 894,917.00
Free Cash Flow 78,504.00 4,673.00 2,662.00 20,502.00 2,986.00