Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings -3.53 -4.53 -6.78
Price to Sales 2.28 3.10 8.19 17.05
Book Value Per Common Share 1.72 2.45 3.31 4.89
Price to Book 2.12 2.11 3.68 3.60
Price to Operating Cash Flow -8.17 -5.32 -7.69 -15.89
Price to Free Cash Flow -8.03 -5.23 -7.59 -15.64
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31
Price to Earnings -21.50 -17.96 -8.57 -28.64 -26.68 -16.00 -24.97
Price to Sales 9.05 10.94 7.03 15.73 15.58 13.56 22.47 36.97
Book Value Per Common Share 1.23 1.35 1.51 1.72 1.88 2.03 2.20 2.45 3.02 3.31 4.45 4.89
Price to Book 2.81 3.07 1.59 2.12 3.34 3.29 2.40 2.11 2.89 3.68 2.60 3.60
Price to Operating Cash Flow -8.87 -28.37 -10.61 -33.65 -35.16 -26.69 -24.34 -25.04
Price to Free Cash Flow -26.39 -24.16 -24.79
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY
Revenue YoY -1.47 13.63 45.70
EBITDA YoY
Net Profit YoY
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31
Earning YoY
Revenue YoY 1.75 11.74 -8.21 -5.68 10.93 2.34 26.50
EBITDA YoY
Net Profit YoY

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 2.40 2.84 3.87 5.49
Quick Ratio 8.48 12.44 11.23 19.95
Current Ratio 9.04 13.29 11.77 20.52
Debt to Equity 0.63 0.39 0.33 0.21
Long-Term Debt to Equity 0.46 0.28 0.22 0.15
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31
Cash Per Common Share 1.76 1.96 2.12 2.36 2.36 2.37 2.57 2.81 3.46 3.83 5.01 5.49
Quick Ratio 8.63 9.31 9.75 8.48 9.53 10.39 12.22 12.44 12.13 11.23 20.71 19.95
Current Ratio 9.60 10.01 10.47 9.04 10.18 11.01 13.01 13.29 12.79 11.77 21.28 20.52
Debt to Equity 0.81 0.74 0.67 0.63 0.51 0.47 0.42 0.39 0.34 0.33 0.22 0.21
Long-Term Debt to Equity 0.62 0.57 0.51 0.46 0.37 0.34 0.32 0.28 0.24 0.22 0.16 0.15

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA -36.06 -33.33 -40.48 -22.47
ROE -58.85 -46.21 -53.88 -27.13
Gross Margin 85.50 85.34 82.67 82.41
Operating Margin -58.36 -61.72 -114.58 -119.30
EBITDA Margin -57.47 -60.96 -113.58 -118.01
Net Profit Margin -64.49 -68.53 -120.90 -128.61
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31
ROA -7.03 -9.79 -10.91 -7.71 -8.24 -10.46 -8.68 -9.00
ROE -12.71 -17.06 -18.23 -11.65 -12.13 -14.89 -11.66 -10.98
Gross Margin 86.39 84.78 86.21 83.88 85.84 85.50 83.81 79.62
Operating Margin -34.87 -54.27 -73.40 -48.37 -52.26 -78.10 -83.81 -149.24
EBITDA Margin -33.60 -53.63 -72.54 -46.63 -51.39 -77.10 -83.04 -148.03
Net Profit Margin -41.04 -61.04 -80.84 -54.90 -57.69 -84.43 -90.67 -156.33

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 2024-06-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 142,839.00 166,651.00 213,073.00 280,186.00
   Current Assets 139,774.00 162,871.00 209,677.00 277,035.00
      Cash and Short-Term Investments 120,357.00 138,129.00 185,000.00 260,687.00
            Cash and Cash Equivalents 120,357.00 138,129.00 185,000.00 260,687.00
            Short-Term Investments 0 0 0 0
      Net Receivables 10,786.00 14,289.00 15,148.00 8,709.00
      Inventory 6,325.00 7,849.00 6,114.00 3,475.00
      Other Current Assets 2,306.00 2,604.00 3,415.00 4,164.00
   Non-Current Assets 3,065.00 3,780.00 3,396.00 3,151.00
      Property, Plant, Equipment Net 2,515.00 3,098.00 3,185.00 2,949.00
      Goodwill 0 0 0 0
      Intangible Assets 0 0 0 0
      Long-Term Investments 0 0 0 0
      Non-Current Deferred Assets 0 0 0 0
      Other Non-Current Assets 550.00 682.00 211.00 202.00
Liabilities 55,316.00 46,436.00 52,997.00 48,079.00
   Current Liabilities 15,468.00 12,252.00 17,817.00 13,504.00
      Payables and Expenses 11,371.00 6,259.00 10,040.00 9,338.00
            Account Payables 1,691.00 1,731.00 2,688.00 3,351.00
            Current Accrued Liabilities 9,680.00 4,528.00 7,352.00 5,987.00
      Short-Term Debt 0 2,219.00 1,033.00 510.00
      Other Current Liabilities 4,097.00 3,774.00 6,744.00 3,656.00
   Non-Current Liabilities 39,848.00 34,184.00 35,180.00 34,575.00
      Long-Term Debt 39,356.00 31,708.00 33,313.00 32,656.00
      Other Non-Current Liabilities 492.00 2,476.00 1,867.00 1,919.00
Equity 87,523.00 120,215.00 160,076.00 232,107.00
   Shareholders Equity 87,523.00 120,215.00 160,076.00 232,107.00
      Capital Stock 51.00 49.00 48.00 48.00
      Share Premium 433,769.00 414,956.00 399,271.00 385,060.00
      Retained Earnings -346,297.00 -294,790.00 -239,243.00 -153,001.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 0 0
   Minority Interest 0 0 0 0
Investments 700.00 1,200.00 1,000.00 600.00
Debt 39,356.00 33,927.00 33,313.00 32,656.00
Common Shares Outstanding 50,938.00 49,131.36 48,298.14 47,504.70
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 79,866.00 81,056.00 71,331.00 48,956.00
Cost Of Revenue 11,581.00 11,881.00 12,361.00 8,610.00
Gross Profit 68,285.00 69,175.00 58,970.00 40,346.00
Operating Expenses 118,817.00 126,449.00 142,924.00 91,824.00
   Selling, General and Administrative Expenses 100,826.00 108,893.00 120,065.00 76,190.00
   Research and Development Expenses 17,991.00 17,556.00 22,859.00 15,634.00
   Other Operating Expenses 0.00 0.00 0.00 0.00
Operating Income -50,532.00 -57,274.00 -83,954.00 -51,478.00
Net Non-Operating Income -739.00 1,837.00 -2,241.00 -11,294.00
Interest Expense 4,662.00 5,408.00 4,466.00 4,366.00
EBT -51,271.00 -55,437.00 -86,195.00 -62,772.00
Income Tax 236.00 110.00 47.00 188.00
Net Income -51,507.00 -55,547.00 -86,242.00 -62,960.00
EBIT -46,609.00 -50,029.00 -81,729.00 -58,406.00
Deprecation and Amortization 712.00 614.00 710.00 632.00
EBITDA -45,897.00 -49,415.00 -81,019.00 -57,774.00
EPS -0.00 -0.00 -0.00 0
Diluted EPS -0.00 -0.00 -0.00 0
Average Shares Outstanding Basic 50,134.10 48,628.94 47,849.06 0
Average Shares Outstanding Diluted 50,134.10 48,628.94 47,849.06 0
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow -22,351.00 -47,184.00 -75,965.00 -52,540.00
   Operating Net Income -51,507.00 -55,547.00 -86,242.00 -62,960.00
   Deprecation and Amortization 712.00 614.00 710.00 632.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 17,077.00 14,581.00 12,963.00 5,083.00
   Change in Working Capital 9,000.00 -9,134.00 -5,696.00 -4,325.00
   Other Operating Activities 2,367.00 2,302.00 2,300.00 9,030.00
Investing Cash Flow -385.00 -791.00 -970.00 -813.00
   Capital Expenditure -385.00 -791.00 -970.00 -813.00
   Net Purchase/Sale of PPE -385.00 -791.00 -970.00 -813.00
   Net Purchase/Sale of Investments Net 0 0 0 0
   Net Purchase/Sale of Business 0 0 0 0
   Other Investing Activities 385.00 791.00 970.00 813.00
Financing Cash Flow 4,964.00 1,104.00 1,248.00 252,529.00
   Net Issuance/Repayment of Debt -35,375.00 0 0 0
   Net Issuance/Repurchase of Equity 255.00 395.00 576.00 257,035.00
   Dividends Paid 0 0 0 0
   Other Financing Activities 40,084.00 709.00 672.00 -4,506.00
Net Change in Cash -17,772.00 -46,871.00 -75,687.00 199,176.00
   Cash at Beginning of Period 138,129.00 185,000.00 260,687.00 61,511.00
   Cash at End of Period 120,357.00 138,129.00 185,000.00 260,687.00
Free Cash Flow -22,736.00 -47,975.00 -76,935.00 -53,353.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31
Assets 116,256.00 121,971.00 129,680.00 142,839.00 143,597.00 149,715.00 155,560.00 166,651.00 196,641.00 213,073.00 258,590.00 280,186.00
   Current Assets 113,595.00 119,431.00 126,906.00 139,774.00 140,469.00 146,329.00 152,089.00 162,871.00 193,652.00 209,677.00 255,310.00 277,035.00
      Cash and Short-Term Investments 92,373.00 101,500.00 108,768.00 120,357.00 118,564.00 118,177.00 127,284.00 138,129.00 167,335.00 185,000.00 238,586.00 260,687.00
            Cash and Cash Equivalents 92,373.00 101,500.00 108,768.00 120,357.00 118,564.00 118,177.00 127,284.00 138,129.00 167,335.00 185,000.00 238,586.00 260,687.00
            Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0
      Net Receivables 9,744.00 9,614.00 9,424.00 10,786.00 12,929.00 19,919.00 15,643.00 14,289.00 16,357.00 15,148.00 9,949.00 8,709.00
      Inventory 7,984.00 6,214.00 5,805.00 6,325.00 6,091.00 6,781.00 6,871.00 7,849.00 7,138.00 6,114.00 4,082.00 3,475.00
      Other Current Assets 3,494.00 2,103.00 2,909.00 2,306.00 2,885.00 1,452.00 2,291.00 2,604.00 2,822.00 3,415.00 2,693.00 4,164.00
   Non-Current Assets 2,661.00 2,540.00 2,774.00 3,065.00 3,128.00 3,386.00 3,471.00 3,780.00 2,989.00 3,396.00 3,280.00 3,151.00
      Property, Plant, Equipment Net 2,113.00 2,154.00 2,302.00 2,515.00 2,548.00 2,746.00 2,847.00 3,098.00 2,765.00 3,185.00 3,089.00 2,949.00
      Goodwill 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
      Long-Term Investments 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
      Other Non-Current Assets 548.00 386.00 472.00 550.00 580.00 640.00 624.00 682.00 224.00 211.00 191.00 202.00
Liabilities 51,966.00 51,959.00 52,052.00 55,316.00 48,640.00 48,077.00 46,351.00 46,436.00 50,265.00 52,997.00 46,679.00 48,079.00
   Current Liabilities 11,831.00 11,936.00 12,122.00 15,468.00 13,799.00 13,288.00 11,693.00 12,252.00 15,145.00 17,817.00 12,000.00 13,504.00
      Payables and Expenses 7,934.00 7,303.00 7,890.00 11,371.00 9,186.00 7,317.00 5,694.00 6,259.00 8,459.00 10,040.00 6,933.00 9,338.00
            Account Payables 1,742.00 2,076.00 2,765.00 1,691.00 1,297.00 1,923.00 1,666.00 1,731.00 3,501.00 2,688.00 3,074.00 3,351.00
            Current Accrued Liabilities 6,192.00 5,227.00 5,125.00 9,680.00 7,889.00 5,394.00 4,028.00 4,528.00 4,958.00 7,352.00 3,859.00 5,987.00
      Short-Term Debt 569.00 566.00 0 0 0 0 0 2,219.00 1,069.00 1,033.00 534.00 510.00
      Other Current Liabilities 3,328.00 4,067.00 4,232.00 4,097.00 4,613.00 5,971.00 5,999.00 3,774.00 5,617.00 6,744.00 4,533.00 3,656.00
   Non-Current Liabilities 40,135.00 40,023.00 39,930.00 39,848.00 34,841.00 34,789.00 34,658.00 34,184.00 35,120.00 35,180.00 34,679.00 34,575.00
      Long-Term Debt 40,069.00 39,821.00 39,583.00 39,356.00 34,152.00 33,770.00 33,697.00 31,708.00 33,457.00 33,313.00 32,817.00 32,656.00
      Other Non-Current Liabilities 66.00 202.00 347.00 492.00 689.00 1,019.00 961.00 2,476.00 1,663.00 1,867.00 1,862.00 1,919.00
Equity 64,290.00 70,012.00 77,628.00 87,523.00 94,957.00 101,638.00 109,209.00 120,215.00 146,376.00 160,076.00 211,911.00 232,107.00
   Shareholders Equity 64,290.00 70,012.00 77,628.00 87,523.00 94,957.00 101,638.00 109,209.00 120,215.00 146,376.00 160,076.00 211,911.00 232,107.00
      Capital Stock 52.00 52.00 51.00 51.00 50.00 50.00 50.00 49.00 48.00 48.00 48.00 48.00
      Share Premium 444,799.00 442,352.00 438,028.00 433,769.00 429,358.00 424,973.00 420,215.00 414,956.00 402,638.00 399,271.00 388,127.00 385,060.00
      Retained Earnings -380,561.00 -372,392.00 -360,451.00 -346,297.00 -334,451.00 -323,385.00 -311,056.00 -294,790.00 -256,310.00 -239,243.00 -176,264.00 -153,001.00
      Treasury Shares 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
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 0 700.00 0 0 0 1,200.00 0 1,000.00 0 600.00
Debt 40,069.00 39,821.00 39,583.00 39,356.00 34,152.00 33,770.00 33,697.00 33,927.00 33,457.00 33,313.00 32,817.00 32,656.00
Common Shares Outstanding 52,474.23 52,033.40 51,376.75 50,938.00 50,398.15 50,136.13 49,565.20 49,131.36 48,450.38 48,298.14 47,590.35 47,504.70
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
Revenues 19,906.00 19,564.00 17,508.00 19,074.00 20,157.00 21,370.00 19,265.00 18,824.00 14,881.00
Cost Of Revenue 2,709.00 2,977.00 2,414.00 2,513.00 3,250.00 3,025.00 2,793.00 3,048.00 3,033.00
Gross Profit 17,197.00 16,587.00 15,094.00 16,561.00 16,907.00 18,345.00 16,472.00 15,776.00 11,848.00
Operating Expenses 25,102.00 28,254.00 28,953.00 28,490.00 28,136.00 30,996.00 31,195.00 33,344.00 34,041.00
   Selling, General and Administrative Expenses 21,750.00 23,867.00 24,523.00 24,197.00 23,390.00 26,680.00 26,559.00 28,675.00 28,395.00
   Research and Development Expenses 3,352.00 4,387.00 4,430.00 4,293.00 4,746.00 4,316.00 4,636.00 4,669.00 5,646.00
   Other Operating Expenses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Income -7,905.00 -11,667.00 -13,859.00 -11,929.00 -11,229.00 -12,651.00 -14,723.00 -17,568.00 -22,193.00
Net Non-Operating Income -343.00 -234.00 -254.00 121.00 329.00 337.00 -1,526.00 515.00 -1,061.00
Interest Expense 1,306.00 1,284.00 1,263.00 1,162.00 1,151.00 1,145.00 1,204.00 1,276.00 1,046.00
EBT -8,248.00 -11,901.00 -14,113.00 -11,808.00 -10,900.00 -12,314.00 -16,249.00 -17,053.00 -23,254.00
Income Tax 79.00 40.00 41.00 38.00 166.00 15.00 17.00 14.00 9.00
Net Income -8,169.00 -11,941.00 -14,154.00 -11,846.00 -11,066.00 -12,329.00 -16,266.00 -17,067.00 -23,263.00
EBIT -6,942.00 -10,617.00 -12,850.00 -10,646.00 -9,749.00 -11,169.00 -15,045.00 -15,777.00 -22,208.00
Deprecation and Amortization 254.00 125.00 149.00 -16.00 350.00 186.00 192.00 146.00 179.00
EBITDA -6,688.00 -10,492.00 -12,701.00 -10,662.00 -9,399.00 -10,983.00 -14,853.00 -15,631.00 -22,029.00
EPS -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 -0.00 0
Average Shares Outstanding Basic 52,377.81 51,821.77 51,290.67 50,806.16 50,340.60 49,903.39 49,486.26 48,405.27 0
Average Shares Outstanding Diluted 52,377.81 51,821.77 51,290.67 50,806.16 50,340.60 49,903.39 49,486.26 48,405.27 0
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
Operating Cash Flow -20,324.00 -7,543.00 -11,605.00 6,327.00 -9,424.00 -9,468.00 -9,786.00 -17,383.00 -21,966.00
   Operating Net Income -22,323.00 -11,941.00 -14,154.00 4,423.00 -27,335.00 -12,326.00 -16,269.00 -17,067.00 -23,263.00
   Deprecation and Amortization 254.00 125.00 149.00 -16.00 350.00 186.00 192.00 146.00 179.00
   Deferred Income Tax 0.00 0.00 0 0 0.00 0.00 0 0 0
   Share Based Compensation 6,663.00 3,842.00 4,243.00 -560.00 8,814.00 4,317.00 4,506.00 3,523.00 2,974.00
   Change in Working Capital -5,647.00 49.00 -2,204.00 3,325.00 7,074.00 -1,886.00 487.00 -4,199.00 -2,132.00
   Other Operating Activities 729.00 382.00 361.00 -845.00 1,673.00 241.00 1,298.00 214.00 276.00
Investing Cash Flow -170.00 -210.00 0 -20.00 -168.00 -80.00 -117.00 -126.00 -227.00
   Capital Expenditure 0.00 0.00 0.00 -268.00 0.00 0.00 -117.00 -126.00 -227.00
   Net Purchase/Sale of PPE -170.00 -210.00 0 -20.00 -168.00 -80.00 -117.00 -126.00 -227.00
   Net Purchase/Sale of Investments Net 0.00 0.00 0 0 0.00 0.00 0 0 0
   Net Purchase/Sale of Business 0.00 0.00 0 0 0.00 0.00 0 0 0
   Net Loan & Lease Activity 0 0 0 0
   Other Investing Activities 0.00 0.00 0 268.00 0.00 0.00 117.00 126.00 227.00
Financing Cash Flow 41.00 485.00 16.00 6,331.00 -866.00 441.00 -942.00 -156.00 92.00
   Net Issuance/Repayment of Debt 0.00 0.00 0 35,375.00 -35,375.00 0.00 -35,375.00 0 0
   Net Issuance/Repurchase of Equity 90.00 58.00 63.00 -122.00 221.00 11.00 145.00 49.00 92.00
   Dividends Paid 0.00 0.00 0 0 0.00 0.00 0 0 0
   Other Financing Activities -49.00 427.00 -47.00 -28,922.00 34,288.00 430.00 34,288.00 -205.00 0.00
Net Change in Cash -20,453.00 -7,268.00 -11,589.00 12,638.00 -10,458.00 -9,107.00 -10,845.00 -17,665.00 -22,101.00
   Cash at Beginning of Period 113,089.00 108,768.00 120,357.00 107,719.00 129,022.00 127,284.00 138,129.00 185,000.00 260,687.00
   Cash at End of Period 92,636.00 101,500.00 108,768.00 120,357.00 118,564.00 118,177.00 127,284.00 167,335.00 238,586.00
Free Cash Flow 0.00 0.00 0 -12,833.00 0.00 0.00 -9,903.00 -17,509.00 -22,193.00