Financial instruments - fair values and risk management (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Financial instruments - fair values and risk management. |
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| Schedule of financial assets |
| | | | | | | June 30, 2025 | | December 31, 2024 | Financial assets at amortized cost | | | | | Trade receivables | | 40,310 | | 32,886 | Cash | | 41,553 | | 111,049 | Loans receivable | | 501 | | 226 | Other investments - current | | 34,418 | | 23,757 | Total | | 116,782 | | 167,918 |
| | | | | | | June 30, 2025 | | December 31, 2024 | Financial assets measured at fair value | | | | | Other investments - current - fair value through profit or loss - Level 1 | | — | | — | Other investments - non-current - fair value through other comprehensive income - Level 1 | | 3,365 | | 3,015 | Other investments - non-current - fair value through profit or loss - Level 1 | | 13,238 | | 13,100 | Total | | 16,603 | | 16,115 |
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| Schedule of financial liabilities |
| | | | | | | June 30, 2025 | | December 31, 2024 | Financial liabilities not measured at fair value | | | | | Trade and other payables | | 28,483 | | 20,212 | Total | | 28,483 | | 20,212 |
| | | | | | | June 30, 2025 | | December 31, 2024 | Financial liabilities measured at fair value | | | | | Put option liability - Level 3 | | 15,002 | | 15,002 | Share warrant obligations - Level 1 | | 265 | | 365 | Other non-current liabilities - Level 3 | | — | | — | Total | | 15,267 | | 15,367 |
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| Schedule of maximum exposure to credit risk at the reporting date |
| | | | | | | June 30, 2025 | | December 31, 2024 | Loans receivables | | 501 | | 226 | Trade receivables | | 40,310 | | 32,886 | Cash | | 41,553 | | 111,049 | Other investments - current | | 34,418 | | 23,757 | Other investments - non-current | | 16,603 | | 16,115 |
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| Schedule of exposure to credit risk |
| | | | | | | | | | | | | | | Weighted | | Gross | | | | | | | Equivalent to external | | average | | carrying | | Impairment loss | | Credit | December 31, 2024 | | credit rating | | loss rate | | amount | | allowance | | Impaired | Low risk | | Baa3 – A3 | | 0.03 | % | 32,283 | | (6) | | No | Loss | | Ca-C – Aa2 | | 100 | % | 1,447 | | (1,447) | | Yes | | | | | | | 33,730 | | (1,453) | | |
| | | | | | | | | | | | | | | Weighted | | Gross | | | | | | | Equivalent to external | | average | | carrying | | Impairment loss | | Credit | June 30, 2025 | | credit rating | | loss rate | | amount | | allowance | | Impaired | Low risk | | Baa3 – A3 | | 0.02 | % | 41,301 | | (8) | | No | Loss | | Ca-C – Aa2 | | 100 | % | 1,447 | | (1,447) | | Yes | | | | | | | 42,748 | | (1,455) | | |
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| Schedule of contractual maturities of non-derivative financial liabilities |
| | | | | | | | | | | December 31, 2024 | | Carrying amounts | | Contractual cash flows | | 3 months or less | | Between 3‑12 months | | Between 1‑5 years | Non‑derivative financial liabilities | | | | | | | | | | | Lease liabilities | | 1,300 | | 1,342 | | 107 | | 1,213 | | 22 | Trade and other payables | | 20,212 | | 20,212 | | 20,212 | | — | | — | | | 21,512 | | 21,554 | | 20,319 | | 1,213 | | 22 |
| | | | | | | | | | | June 30, 2025 | | Carrying amounts | | Contractual cash flows | | 3 months or less | | Between 3‑12 months | | Between 1‑5 years | Non‑derivative financial liabilities | | | | | | | | | | | Lease liabilities | | 2,277 | | 2,343 | | 1,262 | | 508 | | 573 | Trade and other payables | | 28,483 | | 28,483 | | 28,483 | | — | | — | | | 30,760 | | 30,826 | | 29,745 | | 508 | | 573 |
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| Schedule of contractual maturities of derivatives financial liabilities |
| | | | | | | | | | | December 31, 2024 | | Carrying amounts | | Contractual cash flows | | 3 months or less | | Between 3‑12 months | | Between 1‑5 years | Derivative financial liabilities | | | | | | | | | | | Share warrant obligation | | 365 | | 365 | | — | | — | | 365 | Put option liability | | 15,002 | | 15,002 | | 15,002 | | — | | — | | | 15,367 | | 15,367 | | 15,002 | | — | | 365 |
| | | | | | | | | | | June 30, 2025 | | Carrying amounts | | Contractual cash flows | | 3 months or less | | Between 3‑12 months | | Between 1‑5 years | Derivative financial liabilities | | | | | | | | | | | Share warrant obligation | | 265 | | 265 | | — | | — | | 265 | Put option liability | | 15,002 | | 15,002 | | 15,002 | | — | | — | | | 15,267 | | 15,267 | | 15,002 | | — | | 265 |
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| Schedule of exposure to foreign currency risk |
| | | | | | | | | | | | | | | | | | | | | | Armenian | | Kazakhstani | | United Arab | | British | | | | December 31, 2024 | | Euro | | Russian Ruble | | Dram | | Tenge | | Emirates dirham | | pound sterling | | Japanese yen | | Assets | | | | | | | | | | | | | | | | Loans receivable | | 212 | | — | | 13 | | — | | — | | — | | — | | Trade and other receivables | | 9,121 | | — | | — | | 7 | | — | | — | | — | | Cash | | 16,113 | | 74 | | 35 | | 529 | | 5 | | — | | — | | | | 25,446 | | 74 | | 48 | | 536 | | 5 | | — | | — | | Liabilities | | | | | | | | | | | | | | | | Lease liabilities | | (945) | | — | | (355) | | — | | — | | — | | — | | Trade and other payables | | (4,255) | | — | | (1,093) | | (87) | | (12) | | (26) | | (178) | | | | (5,200) | | — | | (1,448) | | (87) | | (12) | | (26) | | (178) | | Net exposure | | 20,246 | | 74 | | (1,400) | | 449 | | (7) | | (26) | | (178) | |
| | | | | | | | | | | | | | | | | | | | | Armenian | | Kazakhstani | | United Arab | | British | | | June 30, 2025 | | Euro | | Russian Ruble | | Dram | | Tenge | | Emirates dirham | | pound sterling | | Japanese yen | Assets | | | | | | | | | | | | | | | Loans receivable | | 496 | | — | | 4 | | — | | — | | — | | — | Trade and other receivables | | 11,792 | | — | | 30 | | 7 | | 2 | | — | | — | Cash | | 19,352 | | 101 | | 37 | | 612 | | — | | — | | — | | | 31,640 | | 101 | | 71 | | 619 | | 2 | | — | | — | Liabilities | | | | | | | | | | | | | | | Lease liabilities | | (2,087) | | — | | (191) | | — | | — | | — | | — | Trade and other payables | | (7,001) | | — | | (1,684) | | (213) | | (11) | | — | | (92) | | | (9,088) | | — | | (1,875) | | (213) | | (11) | | — | | (92) | Net exposure | | 22,552 | | 101 | | (1,804) | | 406 | | (9) | | — | | (92) |
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| Schedule of sensitivity analysis |
| | | | | | | Strengthening of | | Weakening of US$ | December 31, 2024 | | US$ by 10% | | by 10% | Euro | | (2,025) | | 2,025 | Russian Ruble | | (7) | | 7 | Armenian Dram | | 140 | | (140) | Kazakhstani Tenge | | (45) | | 45 | United Arab Emirates dirham | | 1 | | (1) | British pound sterling | | 3 | | (3) | Japanese yen | | 18 | | (18) | | | (1,915) | | 1,915 |
| | | | | | | Strengthening of | | Weakening of US$ | June 30, 2025 | | US$ by 10% | | by 10% | Euro | | (2,255) | | 2,255 | Russian Ruble | | (10) | | 10 | Armenian Dram | | 180 | | (180) | Kazakhstani Tenge | | (41) | | 41 | United Arab Emirates dirham | | 1 | | (1) | Japanese yen | | 9 | | (9) | | | (2,116) | | 2,116 |
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| Schedule of reconciliation from the opening balances to the closing balances for financial liabilities based on Level 3 fair values |
| | | | | | | Share warrant | | Put option | | | obligation (Note 4) | | liability (Note 4) | Balance at January 1, 2024 | | 1,278 | | 28,995 | Net change in fair value | | (265) | | (13,993) | Balance at June 30, 2024 | | 1,013 | | 15,002 |
| | | | | | | Share warrant | | Put option | | | obligation (Note 4) | | liability (Note 4) | Balance at January 1, 2025 | | 365 | | 15,002 | Net change in fair value | | (100) | | — | Balance at June 30, 2025 | | 265 | | 15,002 |
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