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Across the multi-year record, collaboration-related income has been small and uneven relative to recurring operating and research costs. Equipment spending is minimal, but ongoing losses mean development relies on available cash and equity financing; one-off transactions and associate results can also make net income fluctuate.
For the quarter ended March 31, 2026, the operating loss narrowed as reported operating costs fell, while the net loss widened because the share of associates’ losses increased. This separates a cost improvement at Addex from the larger loss contribution of its investment and does not yet change the underlying loss-making, externally funded model.
Whether the next reported cash balance is supported by new equity proceeds while operating cash outflow moderates.
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| 1.4m | 2.6m | 41.7m | 31.5m | 18.7m | 20.5m | 7m | 3.9m | 3.3m | 1.6m | |
| 1.4m | 2.6m | 41.7m | 26.9m | — | — | — | — | 3.3m | 1.6m | |
| — | — | — | 4.6m | 18.7m | 20.5m | 7m | 3.9m | — | — | |
| — | — | — | — | — | — | — | 900 | 6.5k | 5.1k | |
| 220.7k | 303.9k | 273k | 118k | 68.4k | 324.4k | 598.3k | 151.3k | 15.5k | 20.1k | |
| — | — | — | — | — | 159.6k | 181.4k | 40.9k | 0 | — | |
| — | — | — | — | — | 164.8k | 416.9k | 110.4k | 15.5k | — | |
| 21.4k | 158.9k | 207.4k | 734k | 726.2k | 1.1m | 273.6k | 217.9k | 177.6k | 16.3k | |
| 1.7m | 3.1m | 42.2m | 32.4m | 19.5m | 21.9m | 7.8m | 4.2m | 3.5m | 1.7m | |
| 17.3k | 2.8k | 8.9k | 571k | 633.1k | 542.1k | 398.7k | 352.9k | 42.7k | 34.2k | |
| 17.3k | 2.8k | 8.9k | 571k | 633.1k | 542.1k | 398.7k | 352.9k | 42.7k | 34.2k | |
| (2.8m) | (2.8m) | (2.8m) | (2.8m) | (2.8m) | (3.8m) | (4m) | (4.3m) | (153.7k) | (162.2k) | |
| 0 | — | — | — | — | — | — | — | 0 | 0 | |
| — | — | — | — | — | — | — | — | 7.1m | 4.1m | |
| 7.1k | 7.1k | 54.4k | 68.9k | 59.1k | 57.9k | 54.4k | 54.3k | 7.1k | 516.2k | |
| 1.7m | 3.1m | 42.2m | 33m | 20.2m | 22.5m | 8.3m | 4.6m | 10.7m | 6.4m | |
| 669.7k | 383.2k | 1.1m | 2.2m | 983.6k | 1.8m | 1.3m | 984.4k | 253.3k | 602.9k | |
| 580.2k | 654.6k | 972.3k | 2m | 1.5m | 2.1m | 1.7m | 1.4m | 541.5k | 588.4k | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| — | — | — | 373k | 308.6k | 287.7k | 286.1k | 274k | 7.3k | 7.7k | |
| — | 439k | 212.7k | 1.1m | 820.2k | 0 | — | 235k | 0 | — | |
| — | 439k | 212.7k | 1.1m | 820.2k | — | — | 235k | — | — | |
| 1.2m | 1.5m | 2.3m | 5.7m | 3.6m | 4.1m | 3.3m | 2.9m | 802.1k | 1.2m | |
| 0 | 0 | 0 | 177.2k | 258.8k | 194.3k | 87k | 70.4k | 34.7k | 27k | |
| 214.4k | 243.9k | 639.4k | 1.6m | 1.7m | 1.3m | 0 | 532.8k | 164.3k | 371.6k | |
| 1.5m | 1.7m | 3m | 7.5m | 5.6m | 5.6m | 3.4m | 3.5m | 1m | 1.6m | |
| 11.6m | 13.4m | 28.6m | 32.8m | 32.8m | 49.3m | 1.2m | 1.8m | 1.8m | 2.2m | |
| (274.4m) | (276.9m) | (275.8m) | (293.7m) | (305.1m) | (316.3m) | (324.1m) | (330.6m) | (322.3m) | (328.3m) | |
| 263m | 264.8m | 286.5m | 286.4m | 286.9m | 284m | 269.5m | 266.2m | 266.4m | 267.3m | |
| — | — | — | — | — | — | (6.3m) | (909.6k) | (869.7k) | (1m) | |
| — | — | — | — | — | — | 64.6m | 64.6m | 64.6m | 64.6m | |
| 218.6k | 1.3m | 39.2m | 25.5m | 14.6m | 16.9m | 4.9m | 1.1m | 9.7m | 4.8m | |
| 1.7m | 3.1m | 42.2m | 33m | 20.2m | 22.5m | 8.3m | 4.6m | 10.7m | 6.4m | |
| 11.6m | 13.4m | 26.4m | 26.6m | 27.1m | 37.9m | 77.1m | 95.2m | 98.3m | 117.9m |
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Stock intrinsic value is the real worth of a company's stock, based on its financial health and performance.
Instead of looking at the stock's current market price, which can change due to people's opinions and emotions, intrinsic value helps us understand if a stock is truly a good deal or not.
By focusing on the company's actual financial strength, like its earnings and debts, we can make better decisions about which stocks to buy and when.
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