v3.25.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value Measurements [Abstract]  
Schedule of Assets and Liabilities at Fair Value

The Company’s assets and liabilities that are measured at fair value as of June 30, 2025, and December 31, 2024, are classified in the tables below in one of the six categories described in “Note 2bb – Fair value measurement” in the 2024 annual financial statements:

 

   June 30, 2025 
   Level 1   Level 3   Total 
Financial Assets            
RFI Shares  $3,016      $3,016 
Financial Liabilities         
Warrants       $276   $276 
NPAs     $27,357   $27,357 

 

   December 31, 2024 
   Level 1   Level 3   Total 
Financial Assets            
RFI Shares  $3,144      $3,144 
Financial Liabilities               
Warrants and phantom warrants      206    206 
NPA     $17,777   $17,777 
Schedule of Fair Value of Liabilities Classified Under Level 3
   Six months ended
June 30, 2025
 
   Warrants*   NPAs 
January 1, 2025  $206   $17,777 
Settlement of Phantom warrants   (188)   
-
 
Issuance   272    
-
 
Change in fair value   (14)   9,580 
June 30, 2025  $276   $27,357 

  

The following is a roll forward of the fair value of liabilities classified under Level 3

 

   Six months ended June 30, 2024 
   Warrants*   CLAs   NPAs   Facility loans   Earn-out liability   Other 
January 1, 2024  $21,566   $55,940   $21,976   $23,151   $2,997   $186 
Issuance   11,196    11,750    18,704    
-
    
-
    
-
 
Payment   (1,500)   
-
    
-
    (24,600)   (2,210)   
-
 
Conversion to equity   (445)   (69,570)   
-
    
-
           
Reclassification to equity   (28,225)   
-
    
-
    
-
    
-
    
-
 
Change in fair value   (1,061)   1,880    14,758    1,449    (38)   14 
June 30, 2024  $1,531   $
-
   $55,438   $
-
   $749   $200 

 

*Including ‘phantom warrants’, see Note 16(d) in the 2024 annual financial statements.
Schedule of Quantitative Information Regarding Level 3 Fair Value Measurements Inputs

The following table provides quantitative information regarding Level 3 fair value measurements inputs at their measurement dates:

   June 30,   June 30, 
   2025   2024 
Exercise price   $14.35-$31.08    $14.35-$31.08 
Share price  $8.44   $12.02 
Volatility   44.57%   44.09%-44.57%
Term (years)   3.17-4.33    4.17-5.33 
Risk-free interest rate   3.68%-3.69%   4.44%-4.48%
Dividend yield   0.00%   0.00%