Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings -6.40 -14.24 -6.20
Price to Sales 244.68
Book Value Per Common Share 0.99 1.02 0.95 1.27 1.19
Price to Book 3.09 4.63 1.64 0.98 0.97
Price to Operating Cash Flow -6.83 -15.21 -6.85 -3.53 -1.56
Price to Free Cash Flow -6.83 -15.12 -6.85 -3.52 -1.56
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 -25.50 -16.29 -23.08 -38.55 -45.27 -27.86
Price to Sales
Book Value Per Common Share 0.44 0.70 0.86 0.99 1.17 0.88 1.02 0.86 0.95 1.20 1.27 1.54 1.19
Price to Book 8.19 3.27 3.24 3.09 3.63 5.65 4.63 2.26 1.64 1.09 0.98 1.35 0.97
Price to Operating Cash Flow -15.54 -18.80 -22.02 -39.63 -44.03 -24.78 -17.73 -24.62
Price to Free Cash Flow -22.02 -39.63 -44.03 -24.78
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 0.99 0.98 0.82 1.41 1.52
Quick Ratio
Current Ratio 13.73 15.66 21.98 11.26 10.41
Debt to Equity 0.24 0.27 0.30 0.22 0.52
Long-Term Debt to Equity 0.16 0.19 0.24 0.12 0.39
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 0.57 0.68 0.80 1.14 1.04 0.78 1.18 0.75 1.10 1.33 1.41 1.70 1.52
Quick Ratio 17.25
Current Ratio 7.65 11.08 14.91 13.73 17.70 14.90 15.66 23.90 21.98 9.47 11.26 27.03 10.41
Debt to Equity 0.49 0.36 0.28 0.24 0.20 0.30 0.27 0.32 0.30 0.22 0.22 0.19 0.52
Long-Term Debt to Equity 0.32 0.25 0.20 0.16 0.13 0.22 0.19 0.27 0.24 0.10 0.12 0.14 0.39

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA -45.04 -30.80 -27.29 -24.36 -50.76
ROE -55.92 -38.97 -35.40 -29.77 -77.06
Gross Margin
Operating Margin -18728.79
EBITDA Margin -18459.14
Net Profit Margin -19305.45
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 -20.98 -18.56 -14.07 -10.15 -12.85 -8.16 -4.99 -4.92
ROE -31.32 -25.23 -18.02 -12.16 -16.70 -10.74 -6.08 -5.83
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 212,879.00 177,564.00 139,777.00 176,598.00 97,745.00
   Current Assets 202,135.00 165,947.00 128,954.00 165,000.00 85,121.00
      Cash and Short-Term Investments 196,327.00 162,319.00 125,876.00 161,171.00 82,188.00
            Cash and Cash Equivalents 15,128.00 26,585.00 52,100.00 34,012.00 22,880.00
            Short-Term Investments 181,199.00 135,734.00 73,776.00 127,159.00 59,308.00
      Net Receivables 0 0 0 0 0
      Inventory 0 0 0 0 0
      Other Current Assets 5,808.00 3,628.00 3,078.00 3,829.00 2,933.00
   Non-Current Assets 10,744.00 11,617.00 10,823.00 11,598.00 12,624.00
      Property, Plant, Equipment Net 365.00 670.00 151.00 373.00 356.00
      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 10,379.00 10,947.00 10,672.00 11,225.00 12,268.00
Liabilities 41,430.00 37,192.00 31,999.00 32,100.00 33,362.00
   Current Liabilities 14,724.00 10,597.00 5,867.00 14,660.00 8,174.00
      Payables and Expenses 14,724.00 10,597.00 5,867.00 6,327.00 8,174.00
            Account Payables 4,545.00 3,504.00 1,334.00 1,443.00 2,595.00
            Current Accrued Liabilities 10,179.00 7,093.00 4,533.00 4,884.00 5,579.00
      Short-Term Debt 200.00 200.00 60.00 8,333.00 200.00
      Other Current Liabilities -200.00 -200.00 -60.00 0.00 -200.00
   Non-Current Liabilities 26,706.00 26,595.00 26,132.00 17,440.00 25,188.00
      Long-Term Debt 26,619.00 26,348.00 26,078.00 17,323.00 25,104.00
      Other Non-Current Liabilities 87.00 247.00 54.00 117.00 84.00
Equity 171,449.00 140,372.00 107,778.00 144,498.00 64,383.00
   Shareholders Equity 171,449.00 140,372.00 107,778.00 144,498.00 64,383.00
      Capital Stock 173.00 140.00 116.00 116.00 55.00
      Share Premium 661,276.00 533,872.00 446,938.00 444,898.00 320,893.00
      Retained Earnings -489,250.00 -393,369.00 -338,671.00 -300,521.00 -257,507.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income -750.00 -271.00 -605.00 5.00 942.00
   Minority Interest 0 0 0 0 0
Investments 181,199.00 135,734.00 73,776.00 127,159.00 59,308.00
Debt 26,619.00 26,348.00 26,078.00 25,656.00 25,104.00
Common Shares Outstanding 172,423.22 138,143.55 114,046.35 114,036.89 54,152.96
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenues 0 0 0 0 257.00
Operating Expenses 103,196.00 60,007.00 38,839.00 41,477.00 49,557.00
   Selling, General and Administrative Expenses 25,037.00 15,668.00 10,929.00 12,350.00 14,264.00
   Research and Development Expenses 78,029.00 44,262.00 27,879.00 28,991.00 35,038.00
   Other Operating Expenses 130.00 77.00 31.00 136.00 255.00
Operating Income -103,196.00 -60,007.00 -38,839.00 -41,477.00 -49,300.00
Net Non-Operating Income 7,315.00 5,309.00 689.00 -1,537.00 -315.00
Interest Expense 0.00 0.00 88.00 2,282.00 1,482.00
Net Interest 6,467.00 4,436.00 -88.00 -2,282.00 -1,482.00
EBT -95,881.00 -54,698.00 -38,150.00 -43,014.00 -49,615.00
Income Tax 9.00 0.00 0.00 0.00 0.00
Net Income -95,881.00 -54,698.00 -38,150.00 -43,014.00 -49,615.00
EBIT -95,881.00 -54,698.00 -38,062.00 -40,732.00 -48,133.00
Deprecation and Amortization 5,167.00 4,809.00 242.00 1,971.00 693.00
EBITDA -90,714.00 -49,889.00 -37,820.00 -38,761.00 -47,440.00
EPS -0.00 -0.00 -0.00 0 0
Diluted EPS -0.00 -0.00 -0.00 0 0
Average Shares Outstanding Basic 198,191.94 165,204.65 152,771.82 0 0
Average Shares Outstanding Diluted 198,191.94 165,204.65 152,771.82 0 0
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow -89,088.00 -51,061.00 -34,554.00 -40,081.00 -39,836.00
   Operating Net Income -95,881.00 -54,698.00 -38,150.00 -43,014.00 -49,615.00
   Deprecation and Amortization -5,167.00 -4,809.00 242.00 1,971.00 693.00
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation 9,860.00 4,178.00 2,041.00 3,260.00 5,107.00
   Change in Working Capital -2,383.00 -456.00 1,336.00 -1,039.00 -134.00
   Other Operating Activities 4,483.00 4,724.00 -23.00 -1,259.00 4,113.00
Investing Cash Flow -39,941.00 -57,116.00 52,645.00 -69,456.00 9,053.00
   Capital Expenditure -25.00 -296.00 -9.00 -57.00 -47.00
   Net Purchase/Sale of PPE -25.00 -296.00 -9.00 -57.00 -47.00
   Net Purchase/Sale of Investments Net -39,916.00 -56,820.00 52,654.00 -69,399.00 98,430.00
   Net Purchase/Sale of Business 0 0 0 0 0
   Other Investing Activities 25.00 296.00 9.00 57.00 -89,283.00
Financing Cash Flow 117,577.00 82,780.00 87.00 120,806.00 3,689.00
   Net Issuance/Repayment of Debt 0 0 88.00 0 -514.00
   Net Issuance/Repurchase of Equity 354.00 283.00 2.00 -3,893.00 2,376.00
   Dividends Paid 0 0 0 0 0
   Other Financing Activities 117,223.00 82,497.00 -3.00 124,699.00 1,827.00
Net Change in Cash -11,457.00 -25,515.00 18,088.00 11,132.00 -26,924.00
   Cash at Beginning of Period 26,585.00 52,100.00 34,012.00 22,880.00 49,804.00
   Cash at End of Period 15,128.00 26,585.00 52,100.00 34,012.00 22,880.00
Free Cash Flow -89,113.00 -51,357.00 -34,563.00 -40,138.00 -39,883.00
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 140,924.00 163,765.00 189,316.00 212,879.00 238,817.00 158,295.00 177,564.00 129,359.00 139,777.00 166,209.00 176,598.00 207,630.00 97,745.00
   Current Assets 128,198.00 150,988.00 177,444.00 202,135.00 226,395.00 146,187.00 165,947.00 117,626.00 128,954.00 154,537.00 165,000.00 194,802.00 85,121.00
      Cash and Short-Term Investments 124,386.00 146,443.00 172,500.00 196,327.00 219,440.00 143,043.00 162,319.00 114,777.00 125,876.00 151,797.00 161,171.00 192,713.00 82,188.00
            Cash and Cash Equivalents 16,277.00 17,436.00 19,556.00 15,128.00 21,427.00 16,785.00 26,585.00 33,984.00 52,100.00 79,227.00 34,012.00 55,982.00 22,880.00
            Short-Term Investments 108,109.00 129,007.00 152,944.00 181,199.00 198,013.00 126,258.00 135,734.00 80,793.00 73,776.00 72,570.00 127,159.00 136,731.00 59,308.00
      Net Receivables 0 0 0 0 1,159.00 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 3,812.00 4,545.00 4,944.00 5,808.00 5,796.00 3,144.00 3,628.00 2,849.00 3,078.00 2,740.00 3,829.00 2,089.00 2,933.00
   Non-Current Assets 12,726.00 12,777.00 11,872.00 10,744.00 12,422.00 12,108.00 11,617.00 11,733.00 10,823.00 11,672.00 11,598.00 12,828.00 12,624.00
      Property, Plant, Equipment Net 85.00 119.00 138.00 365.00 206.00 248.00 670.00 47.00 151.00 64.00 373.00 124.00 356.00
      Goodwill 0 0 0 0 0 0 0 0 0 0 0 0 0
      Intangible Assets 0 0 0 0 11,111.00 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 12,641.00 12,658.00 11,734.00 10,379.00 1,105.00 11,860.00 10,947.00 11,686.00 10,672.00 11,608.00 11,225.00 12,704.00 12,268.00
Liabilities 46,538.00 43,281.00 41,466.00 41,430.00 39,468.00 36,434.00 37,192.00 31,104.00 31,999.00 29,734.00 32,100.00 32,509.00 33,362.00
   Current Liabilities 16,757.00 13,628.00 11,898.00 14,724.00 12,788.00 9,810.00 10,597.00 4,922.00 5,867.00 16,323.00 14,660.00 7,207.00 8,174.00
      Payables and Expenses 16,757.00 13,628.00 11,898.00 14,724.00 9,792.00 9,810.00 10,597.00 4,922.00 5,867.00 3,823.00 6,327.00 7,207.00 8,174.00
            Account Payables 4,136.00 4,749.00 5,557.00 4,545.00 4,609.00 2,853.00 3,504.00 1,573.00 1,334.00 1,296.00 1,443.00 2,723.00 2,595.00
            Current Accrued Liabilities 12,621.00 8,879.00 6,341.00 10,179.00 5,183.00 6,957.00 7,093.00 3,349.00 4,533.00 2,527.00 4,884.00 4,484.00 5,579.00
      Short-Term Debt 0 0 0 200.00 156.00 0 200.00 0 60.00 12,500.00 8,333.00 0 200.00
      Other Current Liabilities 0.00 0.00 0.00 -200.00 2,840.00 0.00 -200.00 0.00 -60.00 0.00 0.00 0.00 -200.00
   Non-Current Liabilities 29,781.00 29,653.00 29,568.00 26,706.00 26,680.00 26,624.00 26,595.00 26,182.00 26,132.00 13,411.00 17,440.00 25,302.00 25,188.00
      Long-Term Debt 29,781.00 29,653.00 29,524.00 26,619.00 26,552.00 26,416.00 26,348.00 26,145.00 26,078.00 13,309.00 17,323.00 25,244.00 25,104.00
      Other Non-Current Liabilities 0.00 0.00 44.00 87.00 128.00 208.00 247.00 37.00 54.00 102.00 117.00 58.00 84.00
Equity 94,386.00 120,484.00 147,850.00 171,449.00 199,349.00 121,861.00 140,372.00 98,255.00 107,778.00 136,475.00 144,498.00 175,121.00 64,383.00
   Shareholders Equity 94,386.00 120,484.00 147,850.00 171,449.00 199,349.00 121,861.00 140,372.00 98,255.00 107,778.00 136,475.00 144,498.00 175,121.00 64,383.00
      Capital Stock 173.00 173.00 173.00 173.00 172.00 140.00 140.00 116.00 116.00 116.00 116.00 114.00 55.00
      Share Premium 670,219.00 666,817.00 664,198.00 661,276.00 659,084.00 536,178.00 533,872.00 447,828.00 446,938.00 445,471.00 444,898.00 442,246.00 320,893.00
      Retained Earnings -575,851.00 -546,290.00 -515,889.00 -489,250.00 -460,206.00 -413,715.00 -393,369.00 -349,228.00 -338,671.00 -308,821.00 -300,521.00 -267,724.00 -257,507.00
      Treasury Shares 0 0 0 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income -155.00 -216.00 -632.00 -750.00 299.00 -742.00 -271.00 -461.00 -605.00 -291.00 5.00 485.00 942.00
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 108,109.00 129,007.00 152,944.00 181,199.00 0 126,258.00 135,734.00 80,793.00 73,776.00 72,570.00 127,159.00 136,731.00 59,308.00
Debt 29,781.00 29,653.00 29,524.00 26,619.00 26,708.00 26,416.00 26,348.00 26,145.00 26,078.00 25,809.00 25,656.00 25,244.00 25,104.00
Net Debt 0 0 0 0 5,125.00 0 0 0 0 0 0 0 0
Common Shares Outstanding 0 172,836.92 172,703.39 172,423.22 170,842.76 138,176.64 138,143.55 114,064.74 114,046.35 114,039.86 114,036.89 113,578.65 54,152.96
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 0 0 0 0 2,129.00 0 0 0 0 0
Interest Expense 0.00 0.00 0.00 0.00 0 0 0.00 0.00 570.00 593.00
Net Interest 548.00 921.00 1,498.00 5,114.00 0 0 1,353.00 765.00 -570.00 -593.00
Non-Interest Expense 0 0 0 0 6,013.00 0 0 0 0 0
Operating Expenses 30,255.00 31,440.00 28,435.00 54,364.00 26,357.00 0 22,475.00 12,112.00 8,046.00 10,414.00
   Selling, General and Administrative Expenses 9,627.00 10,655.00 9,246.00 13,388.00 6,013.00 0 5,636.00 3,366.00 2,354.00 2,778.00
   Research and Development Expenses 20,592.00 20,751.00 19,159.00 40,911.00 20,311.00 0 16,807.00 8,738.00 5,684.00 7,589.00
   Other Operating Expenses 36.00 34.00 30.00 98.00 0 0 32.00 8.00 8.00 47.00
Operating Income -30,255.00 -31,440.00 -28,435.00 -54,364.00 -26,357.00 0 -22,475.00 -12,112.00 -8,046.00 -10,414.00
Net Non-Operating Income 0 0 1,796.00 7,315.00 0 0 0 0 0 0
EBT 0 0 -26,639.00 -71,633.00 -24,248.00 0 0 0 0 0
Income Tax 0.00 0.00 0.00 9.00 0 0 0.00 0.00 0.00 0.00
Net Income Including Non-Controlling Interests 0 0 0 0 -24,248.00 0 0 0 0 0
Net Income -29,561.00 -30,401.00 -26,639.00 -51,287.00 -24,248.00 0 -20,346.00 -10,557.00 -8,300.00 -10,217.00
EBIT 0 0 -26,639.00 -69,524.00 -26,357.00 0 0 0 0 0
Deprecation and Amortization 1,432.00 728.00 1,081.00 3,795.00 69.00 0 1,303.00 901.00 308.00 265.00
EBITDA 0 0 -25,558.00 -64,426.00 -26,288.00 0 0 0 0 0
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 -0.00 0 0
Average Shares Outstanding Basic 216,462.16 216,431.35 216,146.93 215,785.91 211,847.65 182,584.08 182,550.11 152,781.58 0 0
Average Shares Outstanding Diluted 216,462.16 216,431.35 216,146.93 215,785.91 211,847.65 182,584.08 182,550.11 152,781.58 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 -49,719.00 -26,261.00 -27,189.00 -22,668.00 -20,644.00 -12,026.00 -8,425.00 -9,597.00
   Operating Net Income -56,200.00 -30,401.00 -26,639.00 -24,248.00 -20,346.00 -10,557.00 -8,300.00 -10,217.00
   Deprecation and Amortization -1,432.00 -728.00 -1,081.00 69.00 -1,303.00 -901.00 308.00 265.00
   Deferred Income Tax 0.00 0.00 0 0 0 0 0 0
   Share Based Compensation 6,397.00 2,669.00 2,972.00 2,371.00 2,257.00 864.00 574.00 946.00
   Change in Working Capital 1,571.00 880.00 859.00 695.00 243.00 261.00 1,638.00 879.00
   Other Operating Activities -55.00 1,319.00 -3,300.00 -1,555.00 -1,495.00 -1,693.00 -2,645.00 -1,470.00
Investing Cash Flow 50,797.00 24,327.00 29,329.00 -98,167.00 10,793.00 -6,095.00 53,665.00 -77,739.00
   Capital Expenditure 0.00 0.00 -3.00 0 -10.00 -4.00 0.00 0.00
   Net Purchase/Sale of PPE -5.00 -15.00 -3.00 -3.00 -10.00 -4.00 0 0
   Net Purchase/Sale of Investments Net 50,802.00 24,342.00 29,332.00 -98,164.00 10,803.00 -6,091.00 53,665.00 -77,739.00
   Net Purchase/Sale of Business 0.00 0.00 0 0 0 0 0 0
   Net Loan & Lease Activity 0 0 0 0 0
   Other Investing Activities 0.00 0.00 3.00 0.00 10.00 4.00 0.00 0.00
Financing Cash Flow 2,295.00 -49.00 2,318.00 118,316.00 49.00 26.00 -1.00 120,466.00
   Net Issuance/Repayment of Debt 2,369.00 0.00 2,368.00 0 0 0 0 0
   Net Issuance/Repurchase of Equity 165.00 65.00 165.00 118,079.00 51.00 27.00 0 -3,907.00
   Dividends Paid 0.00 0.00 0 0 0 0 0 0
   Other Financing Activities -239.00 -114.00 -215.00 237.00 -2.00 -1.00 -1.00 124,373.00
Net Change in Cash 3,269.00 -2,120.00 4,428.00 -2,519.00 -9,800.00 -18,116.00 45,215.00 33,102.00
   Cash at Beginning of Period 13,008.00 19,556.00 15,128.00 23,864.00 26,585.00 52,100.00 34,012.00 22,880.00
   Cash at End of Period 16,277.00 17,436.00 19,556.00 21,427.00 16,785.00 33,984.00 79,227.00 55,982.00
Free Cash Flow 0.00 0.00 -27,192.00 -22,671.00 -20,654.00 -12,030.00 0 0