Valuation Ratios

Breakdown 2024-11-30 2023-11-30 2022-11-30 2021-11-30
Price to Earnings -7.68 -2.35 -3.34
Price to Sales 27.21 4.39 15.59 43.27
Book Value Per Common Share 6.95 4.12 6.44 7.66
Price to Book 3.18 1.51 1.92 3.76
Price to Operating Cash Flow -8.60 -4.15 -3.77 -15.26
Price to Free Cash Flow -8.16 -3.77 -3.50 -14.30
Enterprise Value to EBITDA
Breakdown 2025-08-31 2025-05-31 2025-02-28 2024-11-30 2024-08-31 2024-02-29 2023-02-28 2022-11-30 2022-02-28 2021-11-30 2021-02-28
Price to Earnings -9.07 -20.44 -23.06 -37.61 -16.25 -12.57
Price to Sales 99.57 20.24 69.97 145.66 40.88 40.16 75.38 277.99
Book Value Per Common Share 4.84 5.86 6.31 6.95 5.62 3.43 5.78 6.44 6.82 7.66 6.91
Price to Book 1.93 1.82 2.45 3.18 4.49 3.60 1.63 1.92 2.37 3.76 5.16
Price to Operating Cash Flow -13.70 -14.12 -21.14 -43.49 -16.16 -10.52 -17.01 172.95
Price to Free Cash Flow -13.08 -13.54 -19.99 -41.19 -15.12 -10.04 -15.73 193.22
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-11-30 2023-11-30 2022-11-30 2021-11-30
Earning YoY
Revenue YoY -29.15 99.31 29.84
EBITDA YoY
Net Profit YoY
Breakdown 2025-08-31 2025-05-31 2025-02-28 2024-11-30 2024-08-31 2024-02-29 2023-02-28 2022-11-30 2022-02-28 2021-11-30 2021-02-28
Earning YoY
Revenue YoY -82.08 138.75 46.59 -24.10 30.75 31.85 92.00
EBITDA YoY
Net Profit YoY

Financial Strength

Breakdown 2024-11-30 2023-11-30 2022-11-30 2021-11-30
Cash Per Common Share 9.08 5.30 6.36 6.62
Quick Ratio 4.56
Current Ratio 6.46 3.40 4.51 4.70
Debt to Equity 0.27 0.77 0.37 0.39
Long-Term Debt to Equity 0.09 0.34 0.14 0.20
Breakdown 2025-08-31 2025-05-31 2025-02-28 2024-11-30 2024-08-31 2024-02-29 2023-02-28 2022-11-30 2022-02-28 2021-11-30 2021-02-28
Cash Per Common Share 5.10 5.79 6.58 8.03 6.16 4.44 5.13 6.55 5.84 6.62 7.75
Quick Ratio 6.68 4.06 4.56 6.40
Current Ratio 5.35 6.82 6.26 6.46 5.28 2.86 4.44 4.51 4.25 4.70 6.48
Debt to Equity 0.40 0.32 0.28 0.27 0.36 0.85 0.35 0.37 0.43 0.39 0.47
Long-Term Debt to Equity 0.18 0.15 0.09 0.09 0.13 0.33 0.11 0.14 0.21 0.20 0.29

Profitability

Breakdown 2024-11-30 2023-11-30 2022-11-30 2021-11-30
ROA -28.92 -40.48 -43.28 -24.58
ROE -36.73 -71.80 -59.39 -34.24
Gross Margin
Operating Margin -354.36 -201.41 -466.93 -393.49
EBITDA Margin -344.94 -183.68 -437.84 -367.31
Net Profit Margin -354.85 -186.98 -466.93 -393.93
Breakdown 2025-08-31 2025-05-31 2025-02-28 2024-11-30 2024-08-31 2024-02-29 2023-02-28 2022-11-30 2022-02-28 2021-11-30 2021-02-28
ROA -16.54 -7.35 -9.16 -9.53 -13.28 -11.00 -9.72 -6.12
ROE -23.22 -9.71 -11.72 -12.99 -24.60 -14.86 -13.90 -8.99
Gross Margin
Operating Margin -1157.65 -109.68 -305.38 -433.83 -249.79 -442.09 -483.02
EBITDA Margin -1094.31 -98.11 -302.28 -400.90 -237.99 -413.03 -465.76
Net Profit Margin -1094.77 -98.66 -305.38 -388.91 -250.33 -321.11 -442.09 -484.43

Dividends

Breakdown 2024-11-30 2023-11-30 2022-11-30 2021-11-30
Dividend Yield
Dividend Payout Ratio
Breakdown 2025-08-31 2025-05-31 2025-02-28 2024-11-30 2024-08-31 2024-02-29 2023-02-28 2022-11-30 2022-02-28 2021-11-30 2021-02-28
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown 2024-11-30 2023-11-30 2022-11-30 2021-11-30
Assets 669,343.00 355,598.00 416,759.00 476,771.00
   Current Assets 619,387.00 295,503.00 318,449.00 311,118.00
      Cash and Short-Term Investments 609,600.00 287,908.00 309,100.00 295,700.00
            Cash and Cash Equivalents 109,997.00 54,627.00 64,474.00 80,506.00
            Short-Term Investments 0 233,281.00 244,667.00 215,214.00
      Net Receivables 0 0 0 6,204.00
      Inventory 0 0 0 0
      Other Current Assets 9,787.00 0 9,349.00 9,214.00
   Non-Current Assets 49,956.00 60,095.00 98,310.00 165,653.00
      Property, Plant, Equipment Net 45,896.00 47,950.00 29,508.00 25,345.00
      Goodwill 0 0 0 0
      Intangible Assets 0 0 0 0
      Long-Term Investments 0 7,421.00 63,879.00 137,189.00
      Non-Current Deferred Assets 12,683.00 0 19,950.00 21,874.00
      Other Non-Current Assets -8,623.00 4,724.00 -15,027.00 -18,755.00
Liabilities 142,350.00 155,105.00 113,063.00 134,469.00
   Current Liabilities 95,854.00 86,958.00 70,655.00 66,258.00
      Payables and Expenses 28,113.00 15,317.00 18,228.00 15,504.00
            Account Payables 11,482.00 6,401.00 5,064.00 6,650.00
            Current Accrued Liabilities 16,631.00 8,886.00 13,164.00 8,854.00
      Short-Term Debt 8,014.00 7,489.00 5,530.00 3,847.00
      Other Current Liabilities 59,727.00 64,152.00 46,897.00 46,907.00
   Non-Current Liabilities 46,496.00 68,147.00 42,408.00 68,211.00
      Long-Term Debt 20,289.00 23,125.00 6,434.00 9,189.00
      Other Non-Current Liabilities 26,207.00 45,022.00 35,974.00 59,022.00
Equity 526,993.00 200,493.00 303,696.00 342,302.00
   Shareholders Equity 526,993.00 200,493.00 303,696.00 342,302.00
      Capital Stock 76.00 49.00 47.00 45.00
      Share Premium 1,265,536.00 746,299.00 709,220.00 563,757.00
      Retained Earnings -738,769.00 -545,200.00 -401,252.00 -220,892.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income 150.00 -655.00 -4,319.00 -608.00
   Minority Interest 0 0 0 0
Investments 0 0 308,546.00 352,403.00
Debt 28,303.00 30,614.00 11,964.00 13,036.00
Common Shares Outstanding 75,870.72 48,718.55 47,172.30 44,664.37
Breakdown 2024-11-30 2023-11-30 2022-11-30 2021-11-30
Revenues 54,549.00 76,987.00 38,627.00 29,750.00
Interest Income 0 11,115.00 0 0
Interest Expense 0.00 0 0.00 0.00
Non-Interest Expense 0 42,902.00 0 0
Operating Expenses 267,576.00 232,050.00 222,494.00 147,636.00
   Selling, General and Administrative Expenses 45,944.00 42,902.00 37,997.00 31,202.00
   Research and Development Expenses 221,632.00 189,148.00 184,497.00 116,434.00
   Other Operating Expenses 0.00 0 0.00 0.00
Operating Income -213,027.00 -155,063.00 -183,867.00 -117,886.00
Net Non-Operating Income 19,728.00 0 3,507.00 823.00
EBT -193,299.00 -143,948.00 -180,360.00 -117,063.00
Income Tax 270.00 0 0.00 131.00
Net Income Including Non-Controlling Interests 0 -143,948.00 0 0
Net Income -193,569.00 -143,948.00 -180,360.00 -117,194.00
EBIT -193,299.00 -155,063.00 -180,360.00 -117,063.00
Deprecation and Amortization 5,140.00 13,654.00 11,234.00 7,788.00
EBITDA -188,159.00 -141,409.00 -169,126.00 -109,275.00
EPS -0.00 -0.00 -0.00 0
Diluted EPS -0.00 -0.00 -0.00 0
Average Shares Outstanding Basic 67,120.27 54,337.90 48,607.99 0
Average Shares Outstanding Diluted 67,120.27 54,337.90 48,607.99 0
Breakdown 2024-11-30 2023-11-30 2022-11-30 2021-11-30
Operating Cash Flow -172,584.00 -81,365.00 -159,807.00 -84,365.00
   Operating Net Income -193,569.00 -143,948.00 -180,360.00 -117,194.00
   Deprecation and Amortization 5,140.00 13,654.00 11,234.00 7,788.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 33,929.00 33,673.00 28,131.00 15,800.00
   Change in Working Capital -18,401.00 20,121.00 -19,022.00 9,113.00
   Other Operating Activities 317.00 -4,865.00 210.00 128.00
Investing Cash Flow -257,713.00 68,301.00 27,198.00 -108,251.00
   Capital Expenditure -9,273.00 0 -12,244.00 -5,661.00
   Net Purchase/Sale of PPE -9,273.00 -8,401.00 -12,244.00 -5,661.00
   Net Purchase/Sale of Investments Net -248,440.00 76,702.00 39,442.00 -109,584.00
   Net Purchase/Sale of Business 0 0 0 0
   Other Investing Activities 9,273.00 0.00 12,244.00 12,655.00
Financing Cash Flow 485,667.00 3,217.00 117,192.00 153,882.00
   Net Issuance/Repayment of Debt 0 0 0 0
   Net Issuance/Repurchase of Equity 289,763.00 0 115,237.00 151,823.00
   Dividends Paid 0 0 0 0
   Other Financing Activities 195,904.00 0 1,955.00 2,059.00
Net Change in Cash 55,370.00 -9,847.00 -15,417.00 -38,734.00
   Cash at Beginning of Period 55,528.00 65,375.00 80,792.00 119,526.00
   Cash at End of Period 110,898.00 55,528.00 65,375.00 80,792.00
Free Cash Flow -181,857.00 -89,766.00 -172,051.00 -90,026.00
Breakdown 2025-08-31 2025-05-31 2025-02-28 2024-11-30 2024-08-31 2024-02-29 2023-02-28 2022-11-30 2022-02-28 2021-11-30 2021-02-28
Assets 522,472.00 591,555.00 615,043.00 669,343.00 513,600.00 312,674.00 370,154.00 416,759.00 437,720.00 476,771.00 396,660.00
   Current Assets 440,603.00 515,330.00 563,703.00 619,387.00 456,043.00 250,969.00 288,329.00 318,449.00 280,484.00 311,118.00 310,768.00
      Cash and Short-Term Investments 428,829.00 485,781.00 549,700.00 609,600.00 448,052.00 244,000.00 277,100.00 309,100.00 261,978.00 295,700.00 303,073.00
            Cash and Cash Equivalents 78,438.00 84,260.00 75,916.00 109,997.00 99,044.00 49,813.00 33,571.00 64,474.00 78,780.00 80,506.00 126,381.00
            Short-Term Investments 350,391.00 401,521.00 0 0 349,008.00 0 243,575.00 244,667.00 183,198.00 215,214.00 176,692.00
      Net Receivables 0 19,000.00 0 0 0 0 0 0 6,204.00 6,204.00 3,981.00
      Inventory 0 0 0 0 0 0 0 0 0 0 0
      Other Current Assets 0 10,549.00 14,003.00 9,787.00 0 6,969.00 11,229.00 9,349.00 12,302.00 9,214.00 3,714.00
   Non-Current Assets 81,869.00 76,225.00 51,340.00 49,956.00 57,557.00 61,705.00 81,825.00 98,310.00 157,236.00 165,653.00 85,892.00
      Property, Plant, Equipment Net 73,526.00 68,987.00 44,810.00 45,896.00 44,152.00 47,170.00 28,634.00 29,508.00 29,394.00 25,345.00 6,960.00
      Goodwill 0 0 0 0 0 0 0 0 0 0 0
      Intangible Assets 0 0 0 0 0 0 0 0 0 0 0
      Long-Term Investments 0 0 0 0 9,472.00 0 48,449.00 63,879.00 123,685.00 137,189.00 77,191.00
      Non-Current Deferred Assets 0 0 0 12,683.00 0 0 0 19,950.00 0 21,874.00 0
      Other Non-Current Assets 0 0 6,530.00 -8,623.00 3,933.00 14,535.00 4,742.00 -15,027.00 4,157.00 -18,755.00 1,741.00
Liabilities 150,220.00 143,952.00 134,126.00 142,350.00 136,744.00 143,926.00 96,102.00 113,063.00 131,803.00 134,469.00 126,527.00
   Current Liabilities 82,350.00 75,614.00 89,988.00 95,854.00 86,296.00 87,623.00 64,878.00 70,655.00 66,049.00 66,258.00 47,972.00
      Payables and Expenses 34,466.00 29,396.00 28,288.00 28,113.00 19,379.00 22,681.00 12,339.00 18,228.00 10,018.00 15,504.00 11,654.00
            Account Payables 8,609.00 5,954.00 8,397.00 11,482.00 3,918.00 5,918.00 5,629.00 5,064.00 6,014.00 6,650.00 4,388.00
            Current Accrued Liabilities 24,925.00 22,533.00 19,891.00 16,631.00 14,555.00 16,763.00 6,710.00 13,164.00 4,004.00 8,854.00 7,266.00
      Short-Term Debt 3,791.00 5,235.00 6,639.00 8,014.00 6,553.00 7,310.00 5,556.00 5,530.00 5,430.00 3,847.00 0
      Other Current Liabilities 44,093.00 40,983.00 55,061.00 59,727.00 60,364.00 57,632.00 46,983.00 46,897.00 50,601.00 46,907.00 36,318.00
   Non-Current Liabilities 67,870.00 68,338.00 44,138.00 46,496.00 50,448.00 56,303.00 31,224.00 42,408.00 65,754.00 68,211.00 78,555.00
      Long-Term Debt 52,695.00 46,696.00 19,984.00 20,289.00 20,590.00 21,846.00 5,106.00 6,434.00 10,326.00 9,189.00 0
      Other Non-Current Liabilities 15,175.00 21,642.00 24,154.00 26,207.00 29,858.00 34,457.00 26,118.00 35,974.00 55,428.00 59,022.00 0
Equity 372,252.00 447,603.00 480,917.00 526,993.00 376,856.00 168,748.00 274,052.00 303,696.00 305,917.00 342,302.00 270,133.00
   Shareholders Equity 372,252.00 447,603.00 480,917.00 526,993.00 376,856.00 168,748.00 274,052.00 303,696.00 305,917.00 342,302.00 270,133.00
      Capital Stock 77.00 76.00 76.00 76.00 67.00 49.00 47.00 47.00 45.00 45.00 39.00
      Share Premium 1,297,061.00 1,286,131.00 1,275,735.00 1,265,536.00 1,056,665.00 755,767.00 719,237.00 709,220.00 571,363.00 563,757.00 398,018.00
      Retained Earnings -925,005.00 -838,584.00 -795,120.00 -738,769.00 -680,220.00 -586,718.00 -441,985.00 -401,252.00 -263,425.00 -220,892.00 -127,973.00
      Treasury Shares 0 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income 119.00 -20.00 226.00 150.00 344.00 -350.00 -3,247.00 -4,319.00 -2,066.00 -608.00 49.00
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 0 0 0 0 292,024.00 308,546.00 306,883.00 352,403.00 253,883.00
Debt 56,486.00 51,931.00 26,623.00 28,303.00 27,143.00 29,156.00 10,662.00 11,964.00 15,756.00 13,036.00 0
Common Shares Outstanding 76,872.69 76,433.66 76,234.80 75,870.72 67,083.52 49,136.95 47,444.85 47,172.30 44,853.45 44,664.37 39,119.32
Breakdown 2025-08-31 2025-05-31 2025-02-28 2024-08-31 2024-02-29 2023-02-28 2022-02-28 2021-02-28
Revenues 7,894.00 44,056.00 18,453.00 12,588.00 16,585.00 12,685.00 9,621.00 5,011.00
Interest Income 4,964.00 5,618.00 0 5,737.00 0 0 0 0
Interest Expense 0 0 0.00 0 0.00 0.00 0.00 0.00
Non-Interest Expense 13,159.00 14,282.00 0 11,718.00 0 0 0 0
Operating Expenses 99,279.00 92,378.00 81,317.00 67,199.00 61,804.00 55,637.00 52,365.00 29,533.00
   Selling, General and Administrative Expenses 13,159.00 14,282.00 11,654.00 11,718.00 11,799.00 9,821.00 9,228.00 6,530.00
   Research and Development Expenses 86,120.00 78,096.00 69,663.00 55,481.00 50,005.00 45,816.00 43,137.00 23,003.00
   Other Operating Expenses 0 0 0.00 0 0.00 0.00 0.00 0.00
Operating Income -91,385.00 -48,322.00 -62,864.00 -54,611.00 -45,219.00 -42,952.00 -42,744.00 -24,522.00
Net Non-Operating Income 0 0 6,513.00 0 3,791.00 0 211.00 318.00
EBT -86,421.00 -42,704.00 -56,351.00 -48,874.00 -41,428.00 0 -42,533.00 -24,204.00
Income Tax 0 760.00 0.00 82.00 90.00 0.00 0.00 71.00
Net Income Including Non-Controlling Interests -86,421.00 -43,464.00 0 -48,956.00 0 0 0 0
Net Income -86,421.00 -43,464.00 -56,351.00 -48,956.00 -41,518.00 -40,733.00 -42,533.00 -24,275.00
EBIT -91,385.00 -48,322.00 -56,351.00 -54,611.00 -41,428.00 0 -42,533.00 -24,204.00
Deprecation and Amortization 5,000.00 5,097.00 571.00 4,146.00 1,958.00 2,362.00 2,795.00 865.00
EBITDA -86,385.00 -43,225.00 -55,780.00 -50,465.00 -39,470.00 0 -39,738.00 -23,339.00
EPS -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 0 0
Diluted EPS -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 0 0
Average Shares Outstanding Basic 84,159.34 83,882.48 83,560.79 72,779.38 54,903.41 54,028.24 0 0
Average Shares Outstanding Diluted 84,159.34 83,882.48 83,560.79 72,779.38 54,903.41 54,028.24 0 0
Breakdown 2025-08-31 2025-05-31 2025-02-28 2024-08-31 2024-02-29 2023-02-28 2022-02-28 2021-02-28
Operating Cash Flow -57,385.00 -63,161.00 -61,087.00 -42,177.00 -41,951.00 -48,452.00 -42,630.00 8,053.00
   Operating Net Income -86,421.00 -43,464.00 -56,351.00 -48,956.00 -41,518.00 -40,733.00 -42,533.00 -24,275.00
   Deprecation and Amortization 5,000.00 5,097.00 571.00 4,146.00 1,958.00 2,362.00 2,795.00 865.00
   Deferred Income Tax 0 0 0 0 0 0 0 0
   Share Based Compensation 9,772.00 10,385.00 8,722.00 8,754.00 7,822.00 8,481.00 6,071.00 2,700.00
   Change in Working Capital 16,461.00 -32,478.00 -14,029.00 -2,701.00 -10,213.00 -18,618.00 -8,963.00 28,763.00
   Other Operating Activities -2,197.00 -2,701.00 0.00 -3,420.00 0.00 56.00 0.00 0.00
Investing Cash Flow 50,475.00 71,499.00 25,533.00 -21,339.00 35,513.00 16,068.00 40,031.00 -2,387.00
   Capital Expenditure 0 0 -3,485.00 0 -2,884.00 -2,277.00 -3,472.00 -843.00
   Net Purchase/Sale of PPE -2,711.00 -2,675.00 -3,485.00 -2,347.00 -2,884.00 -2,277.00 -3,472.00 -843.00
   Net Purchase/Sale of Investments Net 53,186.00 74,174.00 29,018.00 -18,992.00 38,397.00 18,345.00 43,503.00 -1,544.00
   Net Purchase/Sale of Business 0 0 0 0 0 0 0 0
   Other Investing Activities 0.00 0.00 3,485.00 0.00 2,884.00 2,277.00 3,472.00 843.00
Financing Cash Flow 1,155.00 6.00 1,473.00 45,770.00 1,624.00 1,481.00 1,488.00 1,359.00
   Net Issuance/Repayment of Debt 0 0 0 0 0 0 0 0
   Net Issuance/Repurchase of Equity 0 0 221.00 41,872.00 355.00 28.00 424.00 317.00
   Dividends Paid 0 0 0 0 0 0 0 0
   Other Financing Activities 1,155.00 0 1,252.00 3,898.00 1,269.00 1,453.00 1,064.00 1,042.00
Net Change in Cash -5,755.00 8,344.00 -34,081.00 -17,746.00 -4,814.00 -30,903.00 -1,111.00 7,025.00
   Cash at Beginning of Period 85,161.00 76,817.00 110,898.00 117,691.00 55,528.00 65,375.00 80,792.00 119,526.00
   Cash at End of Period 79,406.00 85,161.00 76,817.00 99,945.00 50,714.00 34,472.00 79,681.00 126,551.00
Free Cash Flow -60,096.00 -65,836.00 -64,572.00 -44,524.00 -44,835.00 -50,729.00 -46,102.00 7,210.00