v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flow from operating activities      
Net loss from continuing operations $ (100,355) $ (99,858) $ (57,075)
Adjustments:      
Depreciation, amortization and non-cash lease interest 20,455 2,642 1,972
Impairment losses 10,516 1,350 326
Changes in fair value of equity securities 2,037 52,256 (23,462)
Loss from deconsolidation of subsidiaries 1,666 0 0
Share-based compensation expense 4,930 15,721 22,110
Changes in assets and liabilities:      
Decrease (increase) in inventory 5,596 387 (340)
(Increase) decrease in other current assets (175) 6,078 (5,775)
(Increase) decrease in trade receivables (1,535) 2,950 (5,603)
Increase in deferred tax assets (7,456) 0 (11)
(Decrease) increase in other payables (9,993) (1,150) 4,856
(Decrease) increase in employee benefits (1,393) (562) (1,478)
Increase in trade payables 6,866 47 1,089
Other (1,426) 1,218 (5,266)
Net cash used in operating activities (70,267) (18,921) (68,657)
Cash flow relating to investing activities      
Change in bank deposits 270,755 100,530 (189,060)
Purchase of property plant and equipment (1,064) (2,196) (9,098)
Acquisition of intangible asset 0 (711) (1,524)
Acquisition of subsidiaries, net of cash acquired (267,816) 0 0
Deconsolidation of subsidiaries (476) 0 0
Other 0 0 835
Net cash from (used in) investing activities 1,399 97,623 (198,847)
Cash flow relating to financing activities      
Repayment long-term bank debt (149) (180) (536)
Proceeds from Noncontrolling Interests 0 555 1,089
Payment of a liability for contingent consideration in a business combination 0 0 (9,255)
Payments of share price protection recognized in business combination 0 (363) (4,459)
Repurchase of treasury shares (24,856) (69,755) (96,387)
Net cash used in financing activities (25,005) (69,743) (109,548)
Cash flow relating to discontinued operations      
Net cash used in operating activities (31,017) 0 0
Net cash used in investing activities (437) 0 0
Net cash provided by financing activities 10,009 0 0
Net cash used in discontinued operations (21,445) 0 0
(Decrease) increase in cash, cash equivalents and restricted cash (115,318) 8,959 (377,052)
Effect of exchange rate fluctuations on cash 3,249 (997) 1,292
Cash, cash equivalents and restricted cash at beginning of the year 318,474 310,512 686,272
Cash, cash equivalents and restricted cash at end of the year 206,405 318,474 310,512
Supplemental disclosure of cash flow information      
Cash and cash equivalents 204,672 317,169 309,571
Restricted cash in restricted deposits, current 123 537 60
Restricted cash in restricted deposits, non-current 1,610 768 881
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows 206,405 318,474 310,512
Non-cash operating activity      
Intangible Asset Acquired On Credit 0 0 711
Property plant and equipment acquired on credit 17 69 214
Lease liabilities arising from obtaining right-of-use assets 1,167 1,275 929
Non-cash investing activity      
Acquisition Replacement Awards For Pre Combination Service 2,055 0 0
Income taxes paid during the year $ 115 $ 314 $ 136