Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings -0.29 -4.13 -6.32
Price to Sales 114.38 85.92
Book Value Per Common Share 5.31 1.46 2.89 -25.53
Price to Book 0.66 4.51 4.88
Price to Operating Cash Flow -0.39 -5.59 -10.55
Price to Free Cash Flow -0.39 -4.55 -4.83
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2023-12-31 2023-06-30 2023-03-31 2022-12-31 2022-09-30
Price to Earnings -2.04 -3.77 -2.38 -5.24 -0.36 -14.93 -28.10 -57.11
Price to Sales 295.75 404.11 533.17
Book Value Per Common Share 0.31 0.94 1.46 5.31 3.49 1.46 2.19 2.55 2.89 3.22
Price to Book 4.54 2.24 2.31 0.66 0.65 4.51 2.86 4.63 4.88 6.75
Price to Operating Cash Flow -3.92 -4.21 -2.39 -1.21 -1.32 -31.90
Price to Free Cash Flow -3.92 -4.15 -1.21 -1.32 -22.80
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY
Revenue YoY -40.25 87.08
EBITDA YoY
Net Profit YoY
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2023-12-31 2023-06-30 2023-03-31 2022-12-31 2022-09-30
Earning YoY
Revenue YoY -27.14 -27.18
EBITDA YoY
Net Profit YoY

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 10.50 0.81 3.78 12.84
Quick Ratio 3.81 2.84 5.50 3.89
Current Ratio 4.49 5.62 5.68 4.14
Debt to Equity 2.81 0.79 0.42 -1.87
Long-Term Debt to Equity 2.30 0.60 0.28 -1.74
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2023-12-31 2023-06-30 2023-03-31 2022-12-31 2022-09-30
Cash Per Common Share 0.47 0.83 3.38 10.36 2.29 0.79 1.35 1.73 2.24 2.65
Quick Ratio 1.16 2.53 3.35 3.81 1.29 2.84 5.77 5.98 5.50 7.31
Current Ratio 1.51 3.26 4.22 4.49 1.92 5.62 6.09 6.26 5.68 7.56
Debt to Equity 5.49 1.78 1.19 2.81 2.61 0.79 0.47 0.44 0.42 0.35
Long-Term Debt to Equity 4.01 1.38 0.90 2.30 2.04 0.60 0.37 0.32 0.28 0.24

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA -53.95 -59.47 -32.20 -57.21
ROE -205.82 -106.19 -45.74 49.63
Gross Margin
Operating Margin -3256.77 -1358.14 -1765.43
EBITDA Margin -3225.58 -1274.99 -1634.05
Net Profit Margin -2774.62 -1358.14 -2414.62
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2023-12-31 2023-06-30 2023-03-31 2022-12-31 2022-09-30
ROA -34.40 -21.50 -17.05 -0.62 -50.01 -13.02 -11.60 -8.78
ROE -223.20 -59.76 -37.28 -2.38 -180.48 -19.19 -16.67 -11.86
Gross Margin
Operating Margin -1995.41 -1455.83 -942.24
EBITDA Margin -1910.03 -1428.07 -919.59
Net Profit Margin -1995.41 -1455.83 -942.24

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 2023-12-31 2023-06-30 2023-03-31 2022-12-31 2022-09-30
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 97,841.00 119,484.00 180,792.00 96,702.00
   Current Assets 58,961.00 71,200.00 102,579.00 60,193.00
   Deposits 0 42.00 1,418.00 0
      Cash and Short-Term Investments 48,277.00 35,900.00 98,600.00 56,034.00
            Cash and Cash Equivalents 48,277.00 35,926.00 57,621.00 56,034.00
            Short-Term Investments 0 0 40,942.00 0
      Net Receivables 1,805.00 112.00 626.00 483.00
      Inventory 0 0 0 0
      Other Current Assets 8,879.00 35,188.00 3,353.00 3,676.00
   Non-Current Assets 38,880.00 48,284.00 78,213.00 36,509.00
      Property, Plant, Equipment Net 35,237.00 41,612.00 74,554.00 33,076.00
      Goodwill 0 0 0 0
      Intangible Assets 0 0 0 0
      Long-Term Investments 0 1,119.00 0 0
      Non-Current Deferred Assets 0 0 0 0
      Other Non-Current Assets 3,643.00 5,553.00 3,659.00 3,433.00
Liabilities 72,192.00 52,571.00 53,529.00 208,159.00
   Current Liabilities 13,146.00 12,672.00 18,053.00 14,543.00
      Payables and Expenses 5,183.00 3,613.00 9,609.00 7,853.00
            Account Payables 1,454.00 1,250.00 2,267.00 5,187.00
            Current Accrued Liabilities 3,729.00 2,363.00 7,342.00 2,666.00
      Short-Term Debt 4,750.00 4,128.00 1,988.00 1,743.00
      Other Current Liabilities 3,213.00 4,931.00 6,456.00 4,947.00
   Non-Current Liabilities 59,046.00 39,899.00 35,476.00 193,616.00
      Long-Term Debt 28,891.00 33,538.00 35,103.00 20,988.00
      Other Non-Current Liabilities 30,155.00 6,361.00 373.00 172,628.00
Equity 25,649.00 66,913.00 127,263.00 -111,457.00
   Shareholders Equity 25,649.00 66,913.00 127,263.00 -111,457.00
      Capital Stock 1.00 5.00 4.00 0
      Share Premium 322,782.00 311,252.00 300,544.00 3,619.00
      Retained Earnings -297,134.00 -244,344.00 -173,286.00 -115,076.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 1.00 0
   Minority Interest 0 0 0 0
Investments 0 1,119.00 40,942.00 0
Debt 33,641.00 37,666.00 37,091.00 22,731.00
Net Debt 0 1,766.00 0 0
Common Shares Outstanding 4,829.03 45,700.16 44,062.53 4,365.71
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 0 2,561.00 4,286.00 2,291.00
Interest Income 948.00 0 0 11.00
Interest Expense 0 0.00 0.00 0
Net Interest 0 2,864.00 1,701.00 0
Non-Interest Expense 23,510.00 0 0 21,250.00
Operating Expenses 60,726.00 95,288.00 74,915.00 42,737.00
   Selling, General and Administrative Expenses 23,510.00 37,176.00 40,848.00 21,250.00
   Research and Development Expenses 34,356.00 32,150.00 34,067.00 21,957.00
   Other Operating Expenses 0 25,962.00 0.00 -470.00
Operating Income -60,726.00 -92,727.00 -70,629.00 -40,446.00
Net Non-Operating Income 20,006.00 9,321.00 12,419.00 -14,862.00
EBT -52,790.00 -83,406.00 -58,210.00 -55,319.00
Income Tax 0 0.00 0.00 0
Net Income Including Non-Controlling Interests -52,790.00 0 0 -55,319.00
Net Income -52,790.00 -71,058.00 -58,210.00 -55,319.00
EBIT -60,726.00 -83,406.00 -58,210.00 -40,446.00
Deprecation and Amortization 5,851.00 799.00 3,564.00 3,010.00
EBITDA -54,875.00 -82,607.00 -54,646.00 -37,436.00
EPS -0.01 -0.00 -0.00 -0.01
Diluted EPS -0.01 -0.00 -0.00 -0.01
Average Shares Outstanding Basic 4,595.95 44,372.22 26,110.78 4,365.71
Average Shares Outstanding Diluted 4,595.95 44,372.22 26,110.78 4,365.71
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow -41,397.00 -52,395.00 -34,896.00 -34,635.00
   Operating Net Income -52,790.00 -71,058.00 -58,210.00 -55,319.00
   Deprecation and Amortization 5,851.00 799.00 3,564.00 3,010.00
   Deferred Income Tax 0 0 0 0
   Share Based Compensation 1,755.00 9,670.00 16,392.00 2,295.00
   Change in Working Capital 4,043.00 2,072.00 11,849.00 615.00
   Other Operating Activities -256.00 6,122.00 -8,491.00 14,764.00
Investing Cash Flow 34.00 30,077.00 -81,959.00 -5,543.00
   Capital Expenditure 0 -12,038.00 -41,374.00 0
   Net Purchase/Sale of PPE 34.00 -11,933.00 -41,374.00 -5,543.00
   Net Purchase/Sale of Investments Net 0 0 0 0
   Net Purchase/Sale of Business 0 0 0 0
   Other Investing Activities 0.00 54,048.00 789.00 0.00
Financing Cash Flow 53,730.00 779.00 118,551.00 68,435.00
   Net Issuance/Repayment of Debt 0 -108.00 5,175.00 0
   Net Issuance/Repurchase of Equity 0 887.00 1,400.00 66,952.00
   Dividends Paid 0 0 0 0
   Other Financing Activities 0 0.00 111,976.00 1,483.00
Net Change in Cash 12,367.00 -21,539.00 1,696.00 28,257.00
   Cash at Beginning of Period 39,448.00 60,987.00 59,291.00 31,034.00
   Cash at End of Period 51,815.00 39,448.00 60,987.00 59,291.00
Free Cash Flow -41,423.00 -64,433.00 -76,270.00 -40,178.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2023-12-31 2023-06-30 2023-03-31 2022-12-31 2022-09-30
Assets 52,685.00 68,540.00 82,778.00 97,841.00 57,721.00 119,484.00 143,630.00 161,425.00 180,792.00 189,441.00
   Current Assets 18,158.00 32,521.00 45,213.00 58,961.00 17,384.00 71,200.00 63,492.00 80,511.00 102,579.00 119,761.00
   Deposits 0 0 73.00 0 0 42.00 1,277.00 1,300.00 1,418.00 1,642.00
      Cash and Short-Term Investments 12,243.00 21,576.00 33,802.00 48,277.00 10,479.00 35,900.00 59,600.00 76,100.00 98,600.00 114,940.00
            Cash and Cash Equivalents 12,243.00 21,576.00 33,802.00 48,277.00 10,479.00 35,926.00 36,752.00 31,600.00 57,621.00 114,940.00
            Short-Term Investments 0 0 0 0 0 0 22,883.00 44,506.00 40,942.00 0
      Net Receivables 1,744.00 3,692.00 2,100.00 1,805.00 1,187.00 112.00 567.00 791.00 626.00 846.00
      Inventory 0 0 0 0 0 0 0 0 0 0
      Other Current Assets 4,171.00 7,253.00 9,311.00 8,879.00 5,718.00 35,188.00 3,325.00 3,620.00 3,353.00 3,975.00
   Non-Current Assets 34,527.00 36,019.00 37,565.00 38,880.00 40,337.00 48,284.00 80,138.00 80,914.00 78,213.00 69,680.00
      Property, Plant, Equipment Net 30,953.00 32,438.00 33,940.00 35,237.00 36,688.00 41,612.00 76,409.00 76,892.00 74,554.00 66,142.00
      Goodwill 0 0 0 0 0 0 0 0 0 0
      Intangible Assets 0 0 0 0 0 0 0 0 0 0
      Long-Term Investments 0 0 0 0 0 1,119.00 0 0 0 0
      Non-Current Deferred Assets 0 0 0 0 0 0 0 0 0 0
      Other Non-Current Assets 3,574.00 3,581.00 3,625.00 3,643.00 3,649.00 5,553.00 3,729.00 4,022.00 3,659.00 3,538.00
Liabilities 44,564.00 43,888.00 44,919.00 72,192.00 41,727.00 52,571.00 46,214.00 49,085.00 53,529.00 49,098.00
   Current Liabilities 12,027.00 9,987.00 10,726.00 13,146.00 9,064.00 12,672.00 10,426.00 12,866.00 18,053.00 15,837.00
      Payables and Expenses 4,753.00 3,162.00 2,451.00 5,183.00 2,200.00 3,613.00 4,684.00 6,572.00 9,609.00 8,596.00
            Account Payables 1,771.00 1,020.00 1,559.00 1,454.00 793.00 1,250.00 2,585.00 2,582.00 2,267.00 1,768.00
            Current Accrued Liabilities 2,982.00 2,142.00 892.00 3,729.00 1,407.00 2,363.00 2,099.00 3,990.00 7,342.00 6,828.00
      Short-Term Debt 5,153.00 4,979.00 4,811.00 4,750.00 4,589.00 4,128.00 2,551.00 2,151.00 1,988.00 1,922.00
      Other Current Liabilities 2,121.00 1,846.00 3,464.00 3,213.00 2,275.00 4,931.00 3,191.00 4,143.00 6,456.00 5,319.00
   Non-Current Liabilities 32,537.00 33,901.00 34,193.00 59,046.00 32,663.00 39,899.00 35,788.00 36,219.00 35,476.00 33,261.00
      Long-Term Debt 24,968.00 26,332.00 27,634.00 28,891.00 30,120.00 33,538.00 35,689.00 35,939.00 35,103.00 32,173.00
      Other Non-Current Liabilities 7,569.00 7,569.00 6,559.00 30,155.00 2,543.00 6,361.00 99.00 280.00 373.00 1,088.00
Equity 8,121.00 24,652.00 37,859.00 25,649.00 15,994.00 66,913.00 97,416.00 112,340.00 127,263.00 140,343.00
   Shareholders Equity 8,121.00 24,652.00 37,859.00 25,649.00 15,994.00 66,913.00 97,416.00 112,340.00 127,263.00 140,343.00
      Capital Stock 3.00 3.00 3.00 1.00 1.00 5.00 4.00 4.00 4.00 4.00
      Share Premium 352,223.00 350,628.00 349,102.00 322,782.00 312,517.00 311,252.00 308,117.00 304,341.00 300,544.00 295,415.00
      Retained Earnings -344,105.00 -325,979.00 -311,246.00 -297,134.00 -296,524.00 -244,344.00 -210,705.00 -192,008.00 -173,286.00 -155,076.00
      Treasury Shares 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 0 0 0 0 0 3.00 1.00 0
   Minority Interest 0 0 0 0 0 0 0 0 0 0
Investments 0 0 36,736.00 0 0 1,119.00 22,883.00 44,506.00 40,942.00 0
Debt 30,121.00 31,311.00 32,445.00 33,641.00 34,709.00 37,666.00 38,240.00 38,090.00 37,091.00 34,095.00
Net Debt 0 0 0 0 0 1,766.00 0 0 0 0
Common Shares Outstanding 26,160.21 26,160.21 26,004.37 4,829.03 4,586.96 45,700.16 44,465.01 44,075.19 44,062.53 43,638.92
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2023-06-30 2023-03-31 2022-09-30
Revenues 0 0 0 0 0 937.00 1,286.00 1,766.00
Interest Income 166.00 270.00 0 230.00 150.00 0 0 0
Interest Expense 0 0 0.00 0 0 0.00 0.00 0.00
Net Interest 0 0 394.00 0 0 794.00 1,061.00 542.00
Non-Interest Expense 5,755.00 6,079.00 0 7,690.00 5,846.00 0 0 0
Operating Expenses 16,948.00 16,798.00 16,397.00 16,167.00 15,215.00 20,572.00 21,120.00 18,851.00
   Selling, General and Administrative Expenses 5,755.00 6,079.00 7,116.00 7,690.00 5,846.00 9,620.00 9,802.00 10,795.00
   Research and Development Expenses 10,516.00 10,029.00 9,281.00 7,772.00 8,655.00 10,952.00 11,318.00 8,056.00
   Other Operating Expenses 0 0 0.00 0 0 0.00 0.00 0.00
Operating Income -16,948.00 -16,798.00 -16,397.00 -16,167.00 -15,215.00 -19,635.00 -19,834.00 -17,085.00
Net Non-Operating Income -1,344.00 1,795.00 2,285.00 15,307.00 1,646.00 938.00 1,112.00 445.00
EBT -18,126.00 -14,733.00 -14,112.00 -610.00 -28,866.00 -18,697.00 -18,722.00 -16,640.00
Income Tax 0 0 0.00 0 0 0.00 0.00 0.00
Net Income Including Non-Controlling Interests -18,126.00 -14,733.00 0 -610.00 -28,866.00 0 0 0
Net Income -18,126.00 -14,733.00 -14,112.00 -610.00 -28,866.00 -18,697.00 -18,722.00 -16,640.00
EBIT -16,948.00 -16,798.00 -14,112.00 -16,167.00 -15,215.00 -18,697.00 -18,722.00 -16,640.00
Deprecation and Amortization -200.00 1,476.00 926.00 1,459.00 -27.00 800.00 357.00 400.00
EBITDA -16,271.00 -15,322.00 -13,186.00 -14,708.00 -14,501.00 -17,897.00 -18,365.00 -16,240.00
EPS -0.00 -0.00 -0.00 -0.00 -0.01 -0.00 -0.00 -0.00
Diluted EPS -0.00 -0.00 -0.00 -0.00 -0.01 -0.00 -0.00 -0.00
Average Shares Outstanding Basic 26,228.27 26,081.27 10,012.91 4,661.09 4,577.12 44,278.43 44,070.97 43,424.17
Average Shares Outstanding Diluted 26,228.27 26,081.27 10,012.91 4,661.09 4,577.12 44,278.43 44,070.97 43,424.17
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2023-06-30 2023-03-31 2022-09-30
Operating Cash Flow -9,446.00 -13,073.00 -14,050.00 -13,504.00 -7,866.00 0 -16,304.00 0
   Operating Net Income -18,126.00 -14,733.00 -14,112.00 -610.00 -28,866.00 -18,697.00 -18,722.00 -16,640.00
   Deprecation and Amortization -200.00 1,476.00 926.00 1,459.00 -27.00 800.00 357.00 400.00
   Deferred Income Tax 0 0 0 0 0 0 0 0
   Share Based Compensation 1,551.00 1,526.00 1,204.00 605.00 668.00 0 3,763.00 0
   Change in Working Capital 7,329.00 -1,381.00 -969.00 -1,459.00 4,555.00 0 233.00 0
   Other Operating Activities 0.00 39.00 -1,099.00 -13,499.00 15,804.00 0 -1,935.00 0
Investing Cash Flow 0 -184.00 0 -11.00 60.00 0 -9,497.00 0
   Capital Expenditure 0 0 0.00 0 0 0.00 -6,507.00 0.00
   Net Purchase/Sale of PPE 0 -184.00 0 -11.00 60.00 0 -6,507.00 0
   Net Purchase/Sale of Investments Net 0 0 0 0 0 0 0 0
   Net Purchase/Sale of Business 0 0 0 0 0 0 0 0
   Other Investing Activities 0 0 0 0.00 0.00 0 3,517.00 0
Financing Cash Flow 124.00 1,011.00 -414.00 51,290.00 2,440.00 0 -35.00 0
   Net Issuance/Repayment of Debt 0 0 0 -2,430.00 2,430.00 0 -35.00 0
   Net Issuance/Repurchase of Equity 136.00 0 1,510.00 49,049.00 0 0 0 0
   Dividends Paid 0 0 0 0 0 0 0 0
   Other Financing Activities 0 0 -1,924.00 4,671.00 10.00 0 0.00 0
Net Change in Cash -9,322.00 -12,246.00 -14,464.00 37,775.00 -5,366.00 0 -25,836.00 0
   Cash at Beginning of Period 25,105.00 37,351.00 51,815.00 14,040.00 19,406.00 0 60,987.00 0
   Cash at End of Period 15,783.00 25,105.00 37,351.00 51,815.00 14,040.00 40,088.00 35,151.00 118,235.00
Free Cash Flow -9,446.00 -13,269.00 0 -13,515.00 -7,866.00 0 -22,811.00 0