Estados financieros detallados de None (QURE): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
None registró ingresos de $16.1M en el último ejercicio fiscal, con un CAGR de 5 años del -15.6%.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $25.1M | $13.1M | $11.3M | $7.3M | $37.5M | $524.0M | $106.5M | $15.8M | $27.1M | $16.1M |
| Coste de Ventas | $72.7M | $67.4M | $73.1M | 0 | $122.4M | $25.0M | $3.3M | $13.6M | $18.3M | $1.7M |
| Beneficio Bruto | -$47.6M | -$54.3M | -$61.8M | $7.3M | -$84.9M | $499.0M | $103.1M | $2.2M | $8.8M | $14.4M |
| I+D | $72.5M | $72.4M | $74.8M | $94.7M | $122.4M | $143.5M | $197.6M | $214.9M | $143.8M | $140.7M |
| Generales y Administrativos | $26.0M | $25.0M | $25.3M | $33.5M | $42.6M | $56.3M | $54.7M | $73.1M | $50.7M | $65.3M |
| Gastos Operativos | $97.0M | $85.1M | $99.5M | $128.4M | $40.5M | $188.4M | $246.3M | $285.1M | $193.1M | $202.2M |
| Beneficio Operativo | -$71.9M | -$72.0M | -$88.2M | -$121.1M | -$125.4M | $310.6M | -$143.2M | -$282.9M | -$184.3M | -$187.8M |
| EBITDA | -$64.0M | -$69.7M | -$74.0M | -$113.7M | -$127.0M | $319.0M | -$108.0M | -$253.1M | -$160.7M | -$116.6M |
| Gastos por Intereses | $2.2M | $2.5M | $2.2M | $3.8M | $3.8M | $7.5M | $11.7M | $41.6M | $63.7M | $62.0M |
| Beneficio Antes de Impuestos | -$72.2M | -$80.6M | -$83.1M | -$124.2M | -$141.4M | $332.8M | -$128.3M | -$306.6M | -$237.1M | -$193.3M |
| Impuestos | $1.1M | -$199000 | $231000 | 0 | -$16.4M | $3.2M | -$1.5M | $1.9M | $2.4M | $5.6M |
| Beneficio Neto | -$73.4M | -$80.4M | -$83.3M | -$124.2M | -$125.0M | $329.6M | -$126.8M | -$308.5M | -$239.6M | -$199.0M |
| BPA | $-2.93 | $-2.98 | $-2.34 | $-3.20 | $-2.81 | $7.17 | $-2.71 | $-6.47 | $-4.92 | $-3.46 |
| BPA Diluido | $-2.93 | $-2.98 | $-2.34 | $-3.20 | $-2.81 | $7.04 | $-2.71 | $-6.47 | $-4.92 | $-3.46 |
| Acciones en Circulación (Diluidas) | $25.0M | $27.0M | $35.6M | $40.0M | $44.5M | $46.8M | $46.7M | $47.7M | $48.6M | $57.5M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $3.7M | $5.6M | $3.6M | $5.8M |
| Beneficio Bruto | $3.3M | $2.2M | $3.3M | -$4.6M |
| Beneficio Operativo | -$51.0M | -$52.2M | -$44.3M | -$55.9M |
| EBITDA | -$51.5M | -$23.5M | -$36.1M | -$70.0M |
| Beneficio Neto | -$80.5M | -$37.1M | -$53.5M | -$81.1M |
| BPA | $-1.38 | $-0.59 | $-0.85 | $-1.22 |
| BPA Diluido | $-1.38 | $-0.59 | $-0.85 | $-1.22 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $132.5M | $159.4M | $234.9M | $377.8M | $244.9M | $556.3M | $228.0M | $241.4M | $158.9M | $80.2M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | $124.8M | $376.5M | $208.6M | $542.3M |
| Cuentas por Cobrar | $9.2M | $1.6M | $233000 | $947000 | $6.6M | $58.8M | $102.4M | $4.2M | $5.9M | $5.9M |
| Inventario | $996000 | $1.1M | $1.1M | 0 | 0 | 0 | $6.9M | $12.0M | 0 | 0 |
| Activos Corrientes | $143.9M | $162.8M | $236.6M | $384.2M | $258.9M | $628.2M | $476.8M | $651.9M | $390.3M | $656.0M |
| Inmovilizado Material | $35.7M | $34.3M | $29.2M | $55.6M | $58.4M | $69.1M | $83.3M | $75.3M | $34.1M | $26.3M |
| Fondo de Comercio | $465000 | $530000 | $506000 | $496000 | $542000 | $27.6M | $25.6M | $26.4M | $22.4M | $25.4M |
| Activos Intangibles | $8.3M | $8.8M | $5.2M | $5.4M | $3.4M | $62.7M | $58.8M | $60.5M | $71.0M | $72.8M |
| Activos Totales | $190.3M | $208.9M | $273.9M | $448.6M | $340.4M | $809.2M | $705.0M | $831.7M | $556.5M | $824.9M |
| Cuentas por Pagar | $5.5M | $2.9M | $3.8M | $5.7M | $3.8M | $2.5M | $11.0M | $6.6M | $7.2M | $5.2M |
| Deuda a Corto | $605000 | $1.1M | 0 | 0 | $5.5M | $5.8M | $8.4M | 0 | 0 | $3.9M |
| Pasivos Corrientes | $22.7M | $19.3M | $20.0M | $31.6M | $27.3M | $36.8M | $75.9M | $73.7M | $40.1M | $62.9M |
| Deuda a Largo | $19.6M | $19.7M | $35.5M | $36.1M | $35.6M | $101.0M | $102.8M | $101.7M | $51.3M | $522.9M |
| Pasivos Totales | $126.6M | $118.9M | $94.3M | $125.6M | $96.5M | $213.4M | $229.0M | $624.0M | $563.3M | $626.0M |
| Reservas | -$396.1M | -$467.1M | -$535.5M | -$659.7M | -$784.7M | -$455.1M | -$581.9M | -$890.4M | -$1.13B | -$1.33B |
| Patrimonio Neto | $63.6M | $89.9M | $179.6M | $323.1M | $243.9M | $595.8M | $476.0M | $207.7M | -$6.8M | $198.9M |
| Deuda Total | $20.2M | $20.2M | $35.5M | $73.1M | $71.5M | $135.7M | $142.9M | $138.4M | $66.1M | $536.6M |
| Deuda Neta | -$112.3M | -$139.2M | -$199.4M | -$304.7M | -$173.4M | -$420.5M | -$210.0M | -$479.5M | -$301.5M | -$85.9M |
| Capital Circulante | $121.2M | $143.5M | $216.6M | $352.6M | $231.6M | $591.5M | $400.9M | $578.2M | $350.2M | $593.1M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $597.1M | $80.2M | $140.0M | $413.0M |
| Activos Totales | $888.4M | $824.9M | $778.7M | $985.1M |
| Pasivos Totales | $659.6M | $626.0M | $629.4M | $661.1M |
| Patrimonio Neto | $228.7M | $198.9M | $149.3M | $324.1M |
| Deuda Total | $66.2M | $536.6M | $63.3M | $62.8M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$73.4M | -$80.4M | -$83.3M | -$124.2M | -$125.0M | $329.6M | -$126.8M | -$308.5M | -$239.6M | -$199.0M |
| Amortizaciones | $6.1M | $8.3M | $12.4M | $6.7M | $10.6M | $7.3M | $8.5M | $11.9M | $12.6M | $14.8M |
| Compensación en Acciones | $6.2M | $10.1M | $10.7M | $17.5M | $21.8M | $25.6M | $34.2M | $35.1M | $22.3M | $17.7M |
| Cambio en Capital Circulante | -$10.3M | -$12.7M | -$6.2M | -$2.1M | -$6.5M | -$50.5M | -$43.4M | $81.1M | -$3.9M | -$6.8M |
| Flujo de Caja Operativo | -$72.2M | -$64.3M | -$76.0M | -$98.7M | -$134.8M | $288.0M | -$145.1M | -$145.9M | -$182.7M | -$178.0M |
| Inversiones (CapEx) | -$17.2M | -$5.6M | -$4.2M | -$6.6M | -$9.5M | -$17.4M | -$17.7M | -$7.2M | -$3.4M | -$439000 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | -$49.9M | -$1.9M | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$89.4M | -$69.9M | -$80.3M | -$105.3M | -$144.3M | $270.5M | -$162.7M | -$153.1M | -$186.1M | -$178.0M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$16.4M | -$77.6M | -$38.2M | -$28.6M |
| Inversiones (CapEx) | $66000 | $320000 | -$140000 | -$472000 |
| Flujo de Caja Libre | -$16.3M | -$77.2M | -$38.4M | -$29.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $3.5M | $4.7M | $5.1M | $5.0M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -47.8% | -13.9% | -35.5% | +415.2% | +1296.8% | -79.7% | -85.1% | +71.2% | -40.6% |
| Crecimiento Beneficio Neto (anual) | | -9.6% | -3.6% | -49.1% | -0.7% | +363.6% | -138.5% | -143.3% | +22.3% | +16.9% |
| Crecimiento BPA (anual) | | -1.7% | +21.5% | -36.8% | +12.2% | +355.2% | -137.8% | -138.7% | +24.0% | +29.7% |
| Cambio en Acciones (anual) | | +7.8% | +32.1% | +12.2% | +11.2% | +5.3% | -0.2% | +2.0% | +2.1% | +18.2% |
| Crecimiento FCF (anual) | | +21.8% | -14.9% | -31.2% | -37.0% | +287.5% | -160.2% | +5.9% | -21.6% | +4.4% |
| Margen Bruto | -189.6% | -414.3% | -547.5% | 100.0% | -226.3% | 95.2% | 96.9% | 14.0% | 32.4% | 89.5% |
| Margen Operativo | -286.7% | -549.0% | -781.9% | -1663.8% | -334.3% | 59.3% | -134.4% | -1785.5% | -679.6% | -1166.8% |
| Margen EBITDA | -254.9% | -532.1% | -655.9% | -1561.9% | -338.5% | 60.9% | -101.4% | -1597.6% | -592.7% | -724.2% |
| Margen Neto | -292.3% | -613.3% | -738.2% | -1705.8% | -333.3% | 62.9% | -119.1% | -1947.1% | -883.4% | -1236.0% |
| Margen FCF | -356.0% | -532.9% | -711.5% | -1446.7% | -384.7% | 51.6% | -152.8% | -966.3% | -686.2% | -1105.5% |
| Tasa Impositiva Efectiva | -1.6% | 0.2% | -0.3% | -0.0% | 11.6% | 1.0% | 1.1% | -0.6% | -1.0% | -2.9% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-3.57 | $-2.59 | $-2.25 | $-2.63 | $-3.25 | $5.78 | $-3.48 | $-3.21 | $-3.83 | $-3.09 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $25.0M | $27.0M | $35.6M | $40.0M | $44.5M | $46.0M | $46.7M | $47.7M | $48.6M | $57.5M |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -1.91 | -6.57 | -12.32 | -22.39 | -12.86 | 2.89 | -8.37 | -1.05 | -3.59 | -6.92 |
| P/VC | 2.20 | 5.88 | 5.72 | 8.87 | 6.59 | 1.60 | 2.23 | 1.55 | -127.24 | 6.92 |
| P/V | 5.59 | 40.33 | 91.03 | 393.68 | 42.83 | 1.82 | 9.95 | 20.37 | 31.68 | 85.48 |
| Margen Bruto | -189.6% | -414.3% | -547.5% | 100.0% | -226.3% | 95.2% | 96.9% | 14.0% | 32.4% | 89.5% |
| Margen Operativo | -286.7% | -549.0% | -781.9% | -1663.8% | -334.3% | 59.3% | -134.4% | -1785.5% | -679.6% | -1166.8% |
| Margen Neto | -292.3% | -613.3% | -738.2% | -1705.8% | -333.3% | 62.9% | -119.1% | -1947.1% | -883.4% | -1236.0% |