Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings -2.38 -2.69 -2.32
Price to Sales
Book Value Per Common Share 2.40 3.47 4.09 5.75 2.79
Price to Book 1.26 1.48 1.25 1.15
Price to Operating Cash Flow -3.07 -3.35 -3.67 -5.27
Price to Free Cash Flow -3.07 -3.35 -3.64 -5.11
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 -3.94 -12.09 -11.95 -9.60 -17.55 -8.21
Price to Sales
Book Value Per Common Share 1.46 1.72 2.18 2.40 2.70 3.18 3.47 3.60 4.09 5.42 5.75 5.06 2.79
Price to Book 0.62 2.32 1.20 1.26 1.24 1.71 1.48 1.30 1.25 1.18 1.15
Price to Operating Cash Flow -4.16 -21.86 -13.32 -12.63 -24.62 -10.29 -18.16
Price to Free Cash Flow -4.16 -21.83 -12.60 -24.55 -10.28 -17.79
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 2.52 3.77 3.48 5.78 3.67
Quick Ratio
Current Ratio 20.88 34.23 25.78 34.83 3.00
Debt to Equity 0.07 0.05 0.08 0.06 0.48
Long-Term Debt to Equity 0.02 0.02 0.04 0.03 0.04
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 1.54 1.73 1.91 2.46 3.01 2.67 3.49 3.05 4.12 5.42 5.78 5.15 3.67
Quick Ratio
Current Ratio 13.12 11.81 23.77 20.88 22.01 29.08 34.23 29.58 25.78 40.67 34.83 23.57 3.00
Debt to Equity 0.10 0.11 0.06 0.07 0.06 0.06 0.05 0.07 0.08 0.06 0.06 0.05 0.48
Long-Term Debt to Equity 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.04 0.04 0.03 0.03 0.00 0.04

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA -48.54 -48.35 -59.21 -28.64 -86.69
ROE -51.75 -50.90 -63.70 -30.38 -128.71
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 -14.03 -18.30 -11.10 -11.20 -11.14 -17.46 -9.83 -6.15
ROE -15.41 -20.25 -11.76 -11.91 -11.78 -18.73 -10.39 -6.45
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 44,954.00 48,635.00 41,661.00 57,699.14 10,537.83
   Current Assets 43,734.00 46,923.00 39,436.00 55,040.09 9,569.05
      Cash and Short-Term Investments 43,153.00 46,412.00 39,044.00 54,727.74 9,334.58
            Cash and Cash Equivalents 1,754.00 3,620.00 4,555.00 54,727.74 9,334.58
            Short-Term Investments 41,399.00 42,792.00 34,489.00 0 0
      Net Receivables 0 0 0 0 0
      Inventory 0 0 0 0 0
      Other Current Assets 581.00 511.00 392.00 312.35 234.47
   Non-Current Assets 1,220.00 1,712.00 2,225.00 2,659.05 968.78
      Property, Plant, Equipment Net 1,189.00 1,681.00 2,194.00 2,604.56 938.94
      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 31.00 31.00 31.00 54.49 29.84
Liabilities 2,795.00 2,435.00 2,932.00 3,294.93 3,439.98
   Current Liabilities 2,095.00 1,371.00 1,530.00 1,580.06 3,186.23
      Payables and Expenses 1,731.00 1,033.00 648.00 1,084.61 2,526.33
            Account Payables 1,006.00 427.00 648.00 560.08 1,390.36
            Current Accrued Liabilities 604.00 478.00 0 524.53 1,135.97
      Short-Term Debt 364.00 338.00 314.00 291.10 626.90
      Other Current Liabilities 0.00 0.00 568.00 204.35 33.00
   Non-Current Liabilities 700.00 1,064.00 1,402.00 1,714.87 253.75
      Long-Term Debt 700.00 1,064.00 1,402.00 1,714.87 253.75
      Other Non-Current Liabilities 0.00 0.00 0.00 0.00 0.00
Equity 42,159.00 46,200.00 38,729.00 54,404.21 7,097.86
   Shareholders Equity 42,159.00 46,200.00 38,729.00 54,404.21 7,097.86
      Capital Stock 0 0 0 0.10 0.03
      Share Premium 194,014.00 176,236.00 145,249.00 136,255.35 72,421.24
      Retained Earnings -151,855.00 -130,036.00 -106,520.00 -81,851.23 -65,323.41
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 0 0 0
   Minority Interest 0 0 0 0 0
Investments 41,399.00 42,792.00 34,489.00 0 0
Debt 1,064.00 1,402.00 1,716.00 2,005.97 880.65
Common Shares Outstanding 17,536.00 13,317.00 9,472.00 9,469.85 2,541.53
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Expenses 23,826.00 25,238.00 24,932.00 16,892.50 9,135.13
   Selling, General and Administrative Expenses 11,577.00 11,655.00 15,018.00 11,164.86 4,882.88
   Research and Development Expenses 12,249.00 13,583.00 9,914.00 5,727.65 4,252.25
   Other Operating Expenses 0.00 0.00 0.00 0.00 0.00
Operating Income -23,826.00 -25,238.00 -24,932.00 -16,892.50 -9,135.13
Net Non-Operating Income 2,007.00 1,722.00 263.00 364.68 0.36
Interest Expense 0.00 0.00 0.00 0.00 3.74
Net Interest 0 0 161.00 18.71 -3.74
EBT -21,819.00 -23,516.00 -24,669.00 -16,527.82 -9,134.77
Income Tax 0.00 0.00 0.00 0.00 0.00
Net Income -21,819.00 -23,516.00 -24,669.00 -16,527.82 -9,135.49
EBIT -21,819.00 -23,516.00 -24,669.00 -16,527.82 -9,131.03
Deprecation and Amortization 528.00 546.00 525.00 452.91 383.97
EBITDA -21,291.00 -22,970.00 -24,144.00 -16,074.91 -8,747.06
EPS -0.00 -0.00 -0.00 0 0
Diluted EPS -0.00 -0.00 0 0 0
Average Shares Outstanding Basic 17,142.00 12,301.00 11,230.00 0 0
Average Shares Outstanding Diluted 17,142.00 12,301.00 0 0 0
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow -16,838.00 -18,858.00 -15,619.00 -11,845.85 -7,677.21
   Operating Net Income -21,819.00 -23,516.00 -24,669.00 -16,527.82 -9,135.49
   Deprecation and Amortization 528.00 546.00 525.00 452.91 383.97
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation 4,141.00 5,196.00 8,994.00 5,999.18 693.11
   Change in Working Capital 290.00 -616.00 -420.00 -1,457.41 665.78
   Other Operating Activities 22.00 -468.00 -49.00 -312.70 -284.59
Investing Cash Flow 1,335.00 -7,868.00 -34,554.00 -367.89 -180.29
   Capital Expenditure -37.00 -33.00 -115.00 -367.89 -180.29
   Net Purchase/Sale of PPE -37.00 -33.00 -115.00 -367.89 -180.29
   Net Purchase/Sale of Investments Net 1,372.00 -7,835.00 -34,439.00 0 0
   Net Purchase/Sale of Business 0 0 0 0 0
   Other Investing Activities 37.00 33.00 115.00 367.89 180.29
Financing Cash Flow 13,637.00 25,791.00 0 57,606.89 15,074.80
   Net Issuance/Repayment of Debt 0 0 0 0 312.70
   Net Issuance/Repurchase of Equity 13,637.00 25,791.00 0 38,373.03 14,762.10
   Dividends Paid 0 0 0 0 0
   Other Financing Activities 0.00 0.00 0 19,233.87 0.00
Net Change in Cash -1,866.00 -935.00 -50,173.00 45,393.16 7,217.30
   Cash at Beginning of Period 3,620.00 4,555.00 54,728.00 9,334.58 2,117.29
   Cash at End of Period 1,754.00 3,620.00 4,555.00 54,727.74 9,334.58
Free Cash Flow -16,875.00 -18,891.00 -15,734.00 -12,213.74 -7,857.50
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 32,352.00 36,577.00 40,577.00 44,954.00 50,390.00 44,829.00 48,635.00 36,613.00 41,661.00 54,224.00 57,699.14 45,054.66 10,537.83
   Current Assets 31,499.00 35,604.00 39,479.00 43,734.00 49,051.00 43,248.00 46,923.00 34,519.00 39,436.00 51,650.00 55,040.09 44,165.52 9,569.05
      Cash and Short-Term Investments 30,952.00 35,142.00 38,941.00 43,153.00 48,379.00 42,942.00 46,412.00 34,207.00 39,044.00 51,338.00 54,727.74 43,836.69 9,334.58
            Cash and Cash Equivalents 1,544.00 2,044.00 2,937.00 1,754.00 17,915.00 2,314.00 3,620.00 2,273.00 4,555.00 51,338.00 54,727.74 43,836.69 9,334.58
            Short-Term Investments 29,408.00 33,098.00 36,004.00 41,399.00 30,464.00 40,628.00 42,792.00 31,934.00 34,489.00 0 0 0 0
      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 547.00 462.00 538.00 581.00 672.00 306.00 511.00 312.00 392.00 312.00 312.35 328.84 234.47
   Non-Current Assets 853.00 973.00 1,098.00 1,220.00 1,339.00 1,581.00 1,712.00 2,094.00 2,225.00 2,574.00 2,659.05 889.13 968.78
      Property, Plant, Equipment Net 822.00 942.00 1,067.00 1,189.00 1,308.00 1,550.00 1,681.00 2,063.00 2,194.00 2,543.00 2,604.56 859.29 938.94
      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 31.00 31.00 31.00 31.00 31.00 31.00 31.00 31.00 31.00 31.00 54.49 29.84 29.84
Liabilities 2,905.00 3,520.00 2,270.00 2,795.00 3,020.00 2,460.00 2,435.00 2,484.00 2,932.00 2,907.00 3,294.93 2,043.09 3,439.98
   Current Liabilities 2,400.00 3,015.00 1,661.00 2,095.00 2,229.00 1,487.00 1,371.00 1,167.00 1,530.00 1,270.00 1,580.06 1,873.92 3,186.23
      Payables and Expenses 1,394.00 1,752.00 1,291.00 1,731.00 1,426.00 1,143.00 1,033.00 847.00 648.00 851.00 1,084.61 903.05 2,526.33
            Account Payables 626.00 1,073.00 703.00 1,006.00 894.00 604.00 427.00 847.00 648.00 557.00 560.08 709.24 1,390.36
            Current Accrued Liabilities 768.00 679.00 511.00 604.00 532.00 396.00 478.00 0 0 294.00 524.53 193.81 1,135.97
      Short-Term Debt 286.00 377.00 370.00 364.00 357.00 344.00 338.00 320.00 314.00 297.00 291.10 632.93 626.90
      Other Current Liabilities 720.00 886.00 0.00 0.00 446.00 0.00 0.00 0.00 568.00 122.00 204.35 337.93 33.00
   Non-Current Liabilities 505.00 505.00 609.00 700.00 791.00 973.00 1,064.00 1,317.00 1,402.00 1,637.00 1,714.87 169.16 253.75
      Long-Term Debt 505.00 505.00 609.00 700.00 791.00 973.00 1,064.00 1,317.00 1,402.00 1,637.00 1,714.87 169.16 253.75
      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 29,447.00 33,057.00 38,307.00 42,159.00 47,370.00 42,369.00 46,200.00 34,129.00 38,729.00 51,317.00 54,404.21 43,011.57 7,097.86
   Shareholders Equity 29,447.00 33,057.00 38,307.00 42,159.00 47,370.00 42,369.00 46,200.00 34,129.00 38,729.00 51,317.00 54,404.21 43,011.57 7,097.86
      Capital Stock 0 0 0 0 0 0 0 0 0 0 0.10 0.09 0.03
      Share Premium 197,038.00 196,109.00 194,665.00 194,014.00 192,996.00 177,397.00 176,236.00 147,041.00 145,249.00 138,498.00 136,255.35 111,107.78 72,421.24
      Retained Earnings -167,591.00 -163,052.00 -156,358.00 -151,855.00 -145,626.00 -135,028.00 -130,036.00 -112,912.00 -106,520.00 -87,181.00 -81,851.23 -68,096.30 -65,323.41
      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 36,004.00 41,399.00 0 40,628.00 42,792.00 31,934.00 34,489.00 0 0 0 0
Debt 791.00 882.00 979.00 1,064.00 1,148.00 1,317.00 1,402.00 1,637.00 1,716.00 1,934.00 2,005.97 802.10 880.65
Common Shares Outstanding 20,216.00 19,247.00 17,536.00 17,536.00 17,535.95 13,330.00 13,317.00 9,472.00 9,472.00 9,470.00 9,469.85 8,507.89 2,541.53
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 175.00 195.00 0 0 94.00 0 0 0 0 0
Interest Expense 0 0 0.00 0.00 0 0 0.00 0.00 0.00 2.96
Net Interest 0 0 0 0 0 0 0 0 0 -2.96
Non-Interest Expense 2,298.00 4,158.00 0 0 3,311.00 0 0 0 0 0
Operating Expenses 4,883.00 7,049.00 4,954.00 12,153.00 6,170.00 0 5,503.00 6,797.00 5,335.00 2,808.25
   Selling, General and Administrative Expenses 2,298.00 4,158.00 2,397.00 5,815.00 3,311.00 0 2,451.00 3,202.00 3,783.00 1,176.45
   Research and Development Expenses 2,585.00 2,891.00 2,557.00 6,338.00 2,859.00 0 3,052.00 3,595.00 1,552.00 1,631.80
   Other Operating Expenses 0 0 0.00 0.00 0 0 0.00 0.00 0.00 0.00
Operating Income -4,883.00 -7,049.00 -4,954.00 -12,153.00 -6,170.00 0 -5,503.00 -6,797.00 -5,335.00 -2,808.25
Net Non-Operating Income 0 0 451.00 1,496.00 0 0 511.00 405.00 5.00 -35.36
EBT -4,539.00 -6,694.00 -4,503.00 -11,185.00 -5,642.00 0 -4,992.00 -6,392.00 -5,330.00 -2,843.61
Income Tax 0 0 0.00 0.00 0 0 0.00 0.00 0.00 0.00
Net Income Including Non-Controlling Interests -4,539.00 -6,694.00 0 0 -5,642.00 0 0 0 0 0
Net Income -4,539.00 -6,694.00 -4,503.00 -11,185.00 -5,642.00 0 -4,992.00 -6,392.00 -5,330.00 -2,772.89
EBIT -4,883.00 -7,049.00 -4,503.00 -10,657.00 -6,170.00 0 -4,992.00 -6,392.00 -5,330.00 -2,840.66
Deprecation and Amortization 120.00 130.00 122.00 258.00 129.00 0 141.00 136.00 129.00 103.68
EBITDA -4,763.00 -6,919.00 -4,381.00 -10,399.00 -6,041.00 0 -4,851.00 -6,256.00 -5,201.00 -2,736.98
EPS -0.00 -0.00 -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 -0.00 0 0 0
Average Shares Outstanding Basic 20,155.00 20,352.00 20,352.00 20,377.00 16,067.00 16,067.00 16,057.00 11,231.00 0 0
Average Shares Outstanding Diluted 20,155.00 20,352.00 20,352.00 20,377.00 16,067.00 16,067.00 16,057.00 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 -4,392.00 -3,715.00 -4,018.00 -4,276.00 -3,549.00 -5,109.00 -3,321.00 -3,841.65
   Operating Net Income -4,539.00 -6,694.00 -4,503.00 -5,642.00 -4,992.00 -6,392.00 -5,330.00 -2,772.89
   Deprecation and Amortization 120.00 130.00 122.00 129.00 141.00 136.00 129.00 103.68
   Deferred Income Tax 0 0 0 0 0 0 0 0
   Share Based Compensation 688.00 1,444.00 651.00 1,003.00 1,115.00 1,792.00 2,243.00 129.16
   Change in Working Capital -700.00 1,326.00 -482.00 240.00 230.00 -368.00 -388.00 -1,301.60
   Other Operating Activities 39.00 79.00 194.00 -6.00 -43.00 -277.00 25.00 0.00
Investing Cash Flow 3,651.00 2,822.00 5,201.00 6,220.00 2,197.00 2,827.00 -69.00 -24.03
   Capital Expenditure 0 0 0.00 0 -10.00 -5.00 -69.00 -24.03
   Net Purchase/Sale of PPE 0 -5.00 0 -9.00 -10.00 -5.00 -69.00 -24.03
   Net Purchase/Sale of Investments Net 3,651.00 2,827.00 5,201.00 6,229.00 2,207.00 2,832.00 0 0
   Net Purchase/Sale of Business 0 0 0 0 0 0 0 0
   Other Investing Activities 0.00 0.00 0.00 0.00 10.00 5.00 69.00 24.03
Financing Cash Flow 241.00 0 0 13,591.00 46.00 0 0 38,367.78
   Net Issuance/Repayment of Debt 0 0 0 0 0 0 0 0
   Net Issuance/Repurchase of Equity 0 0 0 0 46.00 0 0 38,367.78
   Dividends Paid 0 0 0 0 0 0 0 0
   Other Financing Activities 0 0 0 0 0.00 0 0 0.00
Net Change in Cash -500.00 -893.00 1,183.00 15,535.00 -1,306.00 -2,282.00 -3,390.00 34,502.10
   Cash at Beginning of Period 2,044.00 2,937.00 1,754.00 2,380.00 3,620.00 4,555.00 54,728.00 9,334.58
   Cash at End of Period 1,544.00 2,044.00 2,937.00 17,915.00 2,314.00 2,273.00 51,338.00 43,836.69
Free Cash Flow -4,392.00 -3,720.00 0 -4,285.00 -3,559.00 -5,114.00 -3,390.00 -3,865.67