Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings -4.42 -3.00 -4.13 -19.83
Price to Sales 57.93 29.84 41.79 642.46
Book Value Per Common Share 3.03 3.42 4.66 5.77
Price to Book 2.64 1.36 1.07 3.99
Price to Operating Cash Flow -5.32 -2.90 -4.48 -21.61
Price to Free Cash Flow -4.74 -2.33 -2.86 -14.74
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings -7.30 -13.58 -11.67 -17.28 -19.25
Price to Sales 87.29 208.94 245.77 234.60 259.51
Book Value Per Common Share 1.36 1.96 2.48 3.03 3.04
Price to Book 3.39 3.82 2.81 2.64 3.14
Price to Operating Cash Flow -8.41 -24.30 -24.43
Price to Free Cash Flow -8.32 -21.55 -23.10
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY
Revenue YoY 3.98 40.99 261.97
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 47.16 25.94 -15.76 -0.24
EBITDA YoY
Net Profit YoY

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 2.61 2.06 3.67 5.69
Quick Ratio 4.26 4.39 6.58 11.93
Current Ratio 4.56 4.73 6.72 12.10
Debt to Equity 0.40 0.27 0.21 0.15
Long-Term Debt to Equity 0.21 0.12 0.09 0.07
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 0.60 1.15 1.68 2.31 2.06
Quick Ratio 1.30 2.32 3.27 4.26 4.83
Current Ratio 1.70 2.63 3.59 4.56 5.28
Debt to Equity 0.84 0.59 0.46 0.40 0.36
Long-Term Debt to Equity 0.43 0.30 0.24 0.21 0.21

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA -37.40 -34.80 -21.38 -16.17
ROE -52.30 -44.08 -25.95 -18.58
Gross Margin 65.67 61.91 62.71 64.44
Operating Margin -1228.62 -1022.08 -966.89 -2846.60
EBITDA Margin -1168.50 -967.80 -904.25 -2651.53
Net Profit Margin -1310.24 -993.84 -1012.48 -3241.67
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA -25.19 -17.69 -16.47 -10.83 -11.95
ROE -46.28 -28.08 -24.11 -15.14 -16.29
Gross Margin 60.50 63.43 61.84 73.48 61.93
Operating Margin -1174.95 -1466.57 -2026.79 -1232.62 -1280.65
EBITDA Margin -1101.93 -1440.00 -1992.67 -1172.92 -1225.83
Net Profit Margin -1195.74 -1537.84 -2103.76 -1357.80 -1347.39

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 158,406.00 124,157.00 146,071.00 170,830.00
   Current Assets 98,083.00 68,351.00 100,260.00 140,060.00
      Cash and Short-Term Investments 85,555.00 57,748.00 94,856.00 135,509.00
            Cash and Cash Equivalents 34,186.00 21,610.00 17,888.00 135,509.00
            Short-Term Investments 51,369.00 36,138.00 76,968.00 0
      Net Receivables 6,156.00 5,627.00 3,237.00 2,512.00
      Inventory 4,716.00 3,315.00 882.00 346.00
      Other Current Assets 1,656.00 1,661.00 1,285.00 1,693.00
   Non-Current Assets 60,323.00 55,806.00 45,811.00 30,770.00
      Property, Plant, Equipment Net 8,249.00 7,976.00 5,619.00 5,238.00
      Goodwill 0 0 0 0
      Intangible Assets 50,381.00 46,608.00 39,972.00 25,322.00
      Long-Term Investments 0 0 0 0
      Non-Current Deferred Assets 76.00 56.00 47.00 46.00
      Other Non-Current Assets 1,617.00 1,166.00 173.00 164.00
Liabilities 45,152.00 26,135.00 25,747.00 22,208.00
   Current Liabilities 21,529.00 14,443.00 14,913.00 11,572.00
      Payables and Expenses 17,687.00 12,147.00 13,184.00 9,289.00
            Account Payables 3,749.00 4,102.00 1,873.00 2,394.00
            Current Accrued Liabilities 9,621.00 6,057.00 7,526.00 3,975.00
      Short-Term Debt 1,366.00 1,215.00 1,108.00 1,136.00
      Other Current Liabilities 2,476.00 1,081.00 621.00 1,147.00
   Non-Current Liabilities 23,623.00 11,692.00 10,834.00 10,636.00
      Long-Term Debt 21,287.00 11,489.00 10,775.00 10,539.00
      Other Non-Current Liabilities 2,336.00 203.00 59.00 97.00
Equity 113,254.00 98,022.00 120,324.00 148,622.00
   Shareholders Equity 113,254.00 98,022.00 120,324.00 148,622.00
      Capital Stock 6,430.00 4,926.00 4,440.00 4,427.00
      Share Premium 314,345.00 246,127.00 228,275.00 228,033.00
      Retained Earnings -217,735.00 -160,829.00 -118,212.00 -87,167.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income 914.00 137.00 176.00 202.00
   Minority Interest 0 0 0 0
Debt 22,653.00 12,704.00 11,883.00 11,675.00
Common Shares Outstanding 37,427.26 28,673.99 25,846.28 25,772.36
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 4,521.00 4,348.00 3,084.00 852.00
Cost Of Revenue 1,552.00 1,656.00 1,150.00 303.00
Interest Income 2,502.00 2,571.00 372.00 1.00
Interest Expense 886.00 217.00 237.00 386.00
Non-Interest Expense 27,177.00 20,645.00 17,941.00 14,002.00
Gross Profit 2,969.00 2,692.00 1,934.00 549.00
Operating Expenses 61,778.00 47,794.00 34,433.00 26,791.00
   Selling, General and Administrative Expenses 27,177.00 20,645.00 17,941.00 14,002.00
   Research and Development Expenses 34,408.00 27,656.00 15,984.00 12,959.00
   Other Operating Expenses -1,091.00 -1,549.00 -406.00 -880.00
Operating Income -58,809.00 -45,102.00 -32,499.00 -26,242.00
EBT -56,432.00 -44,657.00 -30,056.00 -24,639.00
Income Tax 2,804.00 -1,445.00 1,169.00 2,980.00
Net Income Including Non-Controlling Interests -59,236.00 -43,212.00 -31,225.00 -27,619.00
Net Income -59,236.00 -43,212.00 -31,225.00 -27,619.00
EBIT -55,546.00 -44,440.00 -29,819.00 -24,253.00
Deprecation and Amortization 2,718.00 2,360.00 1,932.00 1,662.00
EBITDA -52,828.00 -42,080.00 -27,887.00 -22,591.00
EPS -0.00 -0.00 -0.00 -0.00
Diluted EPS -0.00 -0.00 -0.00 -0.00
Average Shares Outstanding Basic 32,745.16 27,968.14 25,827.13 23,809.48
Average Shares Outstanding Diluted 32,745.16 27,968.14 25,827.13 23,809.48
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow -49,226.00 -44,778.00 -28,756.00 -25,336.00
   Operating Net Income -56,432.00 -44,657.00 -30,056.00 -24,639.00
   Deprecation and Amortization 2,718.00 2,360.00 1,932.00 1,662.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 3,968.00 2,611.00 2,698.00 1,270.00
   Change in Working Capital 2,962.00 -3,494.00 86.00 -1,144.00
   Other Operating Activities -2,442.00 -1,598.00 -3,416.00 -2,485.00
Investing Cash Flow -16,325.00 32,011.00 -89,946.00 -11,817.00
   Capital Expenditure -4,907.00 -8,462.00 -15,463.00 -10,348.00
   Net Purchase/Sale of PPE -1,158.00 -2,500.00 -886.00 -1,469.00
   Net Purchase/Sale of Investments Net -12,519.00 40,663.00 -73,707.00 0
   Net Purchase/Sale of Business 0 0 0 0
   Other Investing Activities 2,259.00 2,310.00 110.00 0.00
Financing Cash Flow 77,439.00 16,858.00 -983.00 76,472.00
   Net Issuance/Repayment of Debt 8,475.00 -1,236.00 -1,071.00 -863.00
   Net Issuance/Repurchase of Equity 69,722.00 18,337.00 255.00 77,728.00
   Dividends Paid 0 0 0 0
   Other Financing Activities -758.00 -243.00 -167.00 -393.00
Net Change in Cash 11,888.00 4,091.00 -119,685.00 39,319.00
   Cash at Beginning of Period 21,610.00 17,888.00 135,509.00 92,300.00
   Cash at End of Period 34,186.00 21,610.00 17,888.00 135,509.00
Free Cash Flow -55,298.00 -55,740.00 -45,105.00 -37,153.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30
Assets 93,599.00 116,470.00 135,903.00 158,406.00 142,764.00 0
   Current Assets 35,345.00 55,114.00 75,210.00 98,083.00 83,582.00 0
      Cash and Short-Term Investments 22,478.00 42,986.00 63,047.00 85,555.00 70,977.00 0
            Cash and Cash Equivalents 10,869.00 22,729.00 22,394.00 34,186.00 28,678.00 0
            Short-Term Investments 11,609.00 20,257.00 40,653.00 51,369.00 42,299.00 0
      Net Receivables 4,502.00 5,651.00 5,458.00 6,156.00 5,496.00 0
      Inventory 6,075.00 5,332.00 4,981.00 4,716.00 5,272.00 0
      Other Current Assets 2,290.00 1,145.00 1,724.00 1,656.00 1,837.00 0
   Non-Current Assets 58,254.00 61,356.00 60,693.00 60,323.00 59,182.00 0
      Property, Plant, Equipment Net 6,362.00 8,074.00 7,848.00 8,249.00 8,096.00 0
      Goodwill 0 0 0 0 0 0
      Intangible Assets 50,108.00 51,407.00 50,977.00 50,381.00 0 49,310.00
      Long-Term Investments 0 0 0 0 0 0
      Non-Current Deferred Assets 25.00 76.00 78.00 76.00 53.00 0
      Other Non-Current Assets 1,759.00 1,799.00 1,790.00 1,617.00 0 0
Liabilities 42,645.00 43,073.00 43,060.00 45,152.00 38,057.00 0
   Current Liabilities 20,759.00 20,946.00 20,972.00 21,529.00 15,821.00 0
      Payables and Expenses 16,975.00 16,944.00 16,732.00 17,687.00 14,271.00 0
            Account Payables 3,269.00 4,437.00 4,456.00 3,749.00 7,109.00 0
            Current Accrued Liabilities 10,330.00 8,517.00 7,976.00 9,621.00 0 7,409.00
      Short-Term Debt 990.00 1,317.00 1,254.00 1,366.00 1,550.00 0
      Other Current Liabilities 2,794.00 2,685.00 2,986.00 2,476.00 0.00 0
   Non-Current Liabilities 21,886.00 22,127.00 22,088.00 23,623.00 22,236.00 0
      Long-Term Debt 18,480.00 18,389.00 18,182.00 21,287.00 21,779.00 0
      Other Non-Current Liabilities 3,406.00 3,738.00 3,906.00 2,336.00 457.00 0
Equity 50,954.00 73,397.00 92,843.00 113,254.00 104,707.00 0
   Shareholders Equity 50,954.00 73,397.00 92,843.00 113,254.00 104,707.00 0
      Capital Stock 6,450.00 6,431.00 6,430.00 6,430.00 5,908.00 0
      Share Premium 314,417.00 314,388.00 314,345.00 314,345.00 290,906.00 0
      Retained Earnings -282,789.00 -260,211.00 -240,100.00 -217,735.00 -200,966.00 0
      Treasury Shares 0 0 0 0 0 0
      Accumulated Other Comprehensive Income 1,111.00 1,144.00 912.00 914.00 -84.00 0
   Minority Interest 0 0 0 0 0 0
Debt 19,470.00 19,706.00 19,436.00 22,653.00 23,329.00 0
Net Debt 6,477.00 0 0 0 0 0
Common Shares Outstanding 37,544.78 37,435.64 37,427.26 37,427.26 34,389.01 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Revenues 1,972.00 1,340.00 1,064.00 1,263.00 1,266.00
Cost Of Revenue 779.00 490.00 406.00 335.00 482.00
Interest Income 247.00 513.00 945.00 829.00 703.00
Interest Expense 700.00 677.00 694.00 -499.00 672.00
Non-Interest Expense 12,115.00 10,316.00 12,029.00 7,704.00 7,708.00
Gross Profit 1,193.00 850.00 658.00 928.00 784.00
Operating Expenses 25,388.00 20,700.00 21,297.00 19,239.00 15,764.00
   Selling, General and Administrative Expenses 12,115.00 10,316.00 12,029.00 7,704.00 7,708.00
   Research and Development Expenses 12,919.00 10,084.00 9,020.00 11,789.00 7,928.00
   Other Operating Expenses -59.00 -56.00 -115.00 -615.00 -206.00
Operating Income -24,195.00 -19,850.00 -20,639.00 -18,311.00 -14,980.00
EBT -23,870.00 -20,329.00 -22,259.00 -15,069.00 -16,885.00
Income Tax -290.00 278.00 125.00 2,080.00 173.00
Net Income Including Non-Controlling Interests -23,580.00 -20,607.00 -22,384.00 -17,149.00 -17,058.00
Net Income -23,580.00 -20,607.00 -22,384.00 -17,149.00 -17,058.00
EBIT -23,170.00 -19,652.00 -21,565.00 -15,568.00 -16,213.00
Deprecation and Amortization 1,440.00 356.00 363.00 754.00 694.00
EBITDA -21,730.00 -19,296.00 -21,202.00 -14,814.00 -15,519.00
EPS -0.00 -0.00 -0.00 -0.00 -0.00
Diluted EPS -0.00 -0.00 -0.00 -0.00 -0.00
Average Shares Outstanding Basic 37,445.27 37,431.25 37,427.26 37,038.88 34,380.53
Average Shares Outstanding Diluted 37,445.27 37,431.25 37,427.26 37,038.88 34,380.53
Breakdown 2025-09-30 2024-12-31 2024-09-30 2024-06-30
Operating Cash Flow -20,485.00 -12,195.00 -13,438.00 -11,314.00
   Operating Net Income -23,871.00 -15,069.00 -16,884.00 -12,683.00
   Deprecation and Amortization 1,440.00 754.00 694.00 660.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 1,123.00 736.00 1,733.00 540.00
   Change in Working Capital -104.00 4,778.00 -1,155.00 757.00
   Other Operating Activities 927.00 -3,394.00 2,174.00 -588.00
Investing Cash Flow 8,822.00 -6,578.00 5,817.00 -28,202.00
   Capital Expenditure -204.00 -1,104.00 -508.00 -1,136.00
   Net Purchase/Sale of PPE -20.00 -442.00 -268.00 -194.00
   Net Purchase/Sale of Investments Net 8,659.00 -7,291.00 6,203.00 -27,324.00
   Net Purchase/Sale of Business 0 0 0 0
   Other Investing Activities 387.00 2,259.00 390.00 452.00
Financing Cash Flow -305.00 23,375.00 9,083.00 45,234.00
   Net Issuance/Repayment of Debt -281.00 -590.00 9,481.00 -324.00
   Net Issuance/Repurchase of Equity 49.00 23,961.00 87.00 45,612.00
   Dividends Paid 0 0 0 0
   Other Financing Activities -73.00 4.00 -485.00 -54.00
Net Change in Cash -11,968.00 4,602.00 1,462.00 5,718.00
   Cash at Beginning of Period 22,729.00 28,678.00 27,724.00 22,077.00
   Cash at End of Period 10,869.00 34,186.00 28,678.00 27,724.00
Free Cash Flow -20,712.00 -13,748.00 -14,214.00 -12,644.00