v3.26.1
Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2025
Financial Instruments [Abstract]  
Schedule of Financial Instruments

The classification of financial instruments is presented in the following table. There are no financial instruments classified in categories other than those reported:

 

   Classification  Level  12/31/2025   12/31/2024 
Financial liabilities:              
Derivative warrants (note 17)  FVTPL  Level 1   9,475    7,663 
Exposure premium - debentures (note 15)  FVTPL  Level 3   2,940    2,940 
Deferred consideration on acquisitions (note 5)  Amortized cost      277,348    277,183 
Loans and financing (note 13)  Amortized cost      758    2,887 
Debentures (note 15)  Amortized cost      7,992    40,740 
Related parties (note 9)  Amortized cost      
-
    1,078 
Schedule of Measurement and Reconciliation of Financial Liabilities

Measurement and reconciliation of level 3 financial liabilities

 

Balance at January 31, 2024   146,361 
Additions   50,279 
Payments   (7,800)
Transfer of contingent consideration to Amortized Cost   (185,900)
Balance at December 31, 2024   2,940 
Additions   
-
 
Payments   
-
 
Transfer of contingent consideration to Amortized Cost   
-
 
Balance at December 31, 2025   2,940 
Schedule of Significant Unobservable Inputs Used in the Fair Value Measurement For the years ended December 31, 2025 and 2024, the methods, assumptions, and significant unobservable inputs used in the fair value measurement categorized within level 3 of the fair value hierarchy were the following:
    Valuation technique   Significant unobservable
input		   Relationship of inputs to fair
value
Contingent consideration on acquisitions   Income approach- Revenue multiples   Weighted average cost of capital, projected future revenues   The higher the weighted average cost of capital, the lower the fair value. The higher the revenue projections, the higher the fair value.
             
Exposure premium   Income approach- Monte carlo   Future cash flow projections, discount rate, future interest rates, market volatility, probability of occurrence of future liquidity events   The higher the discount rate, the lower the fair value. The higher the probability of a liquidity event, the higher the fair value.
             
Subscription rights   Income approach- Monte carlo   Future cash flow projections, discount rate, future interest rates, market volatility, probability of occurrence of future liquidity events   The higher the discount rate, the lower the fair value. The higher the probability of a liquidity event, the higher the fair value.
Schedule of Liquidity Risk
   12/31/2025 
   Less than
1 year		   1 to 3
years		   Total
Liabilities		 
Accounts payable to suppliers   56,897    
-
    56,897 
Other liabilities   841    
-
    841 
Loans and financing   569    189    758 
Debentures(i)     7,992    
-
    7,992 
Deferred and contingent consideration   277,348    
-
    277,348 
Lease liabilities   1,003    1,154    2,157 
Total   344,650    1,343    345,993 

 

   12/31/2024 
   Less than
1 year		   1 to 3
years		   Total
Liabilities		 
Accounts payable to suppliers   61,284    
-
    61,284 
Other liabilities   775    
-
    775 
Loans and financing   2,512    375    2,887 
Debentures(i)     40,740    
-
    40,740 
Deferred and contingent consideration   277,183    
-
    277,183 
Lease liabilities   773    1,118    1,891 
Related parties   1,078    
-
    1,078 
Total   384,345    1,493    385,838 

 

(i) The Company was not in compliance with the related financial covenants under the debentures on December 31, 2025, and 2024, and the amounts owed under the debentures are classified as current. Refer to Note 15 for details relating to these covenants and waiver obtained by the Company. Contractual principal payments are due quarterly beginning in May 2023 with final maturity in May 2026, as follows:
Schedule of Contractual Principal Payments Due with Final Maturity Contractual principal payments are due quarterly beginning in May 2023 with final maturity in May 2026, as follows:
    Less than
1 year		     1 to 3
years		     3 to 5
years		     Total
Liabilities		  
Debentures     7,992       -       -       7,992  
Schedule of Estimating an Increase or a Decrease Profit or Loss

Estimating an increase or a decrease of (i) projected forecast, (ii) 25% or (iii) 50% in interest rate, would increase or decrease profit or loss as follows:

 

   Scenario I   Scenario II   Scenario III 
   (Probable)
(ii)		   +/-25%   +/-50% 
Potential net effect on profit or loss   222    12    (208)

 

         Exposure     Scenario I     Scenario II     Scenario III 
Indicators  12/31/2025   Spot rates
(i)		   (Probable)
(ii)		   +/-25%   +/-50% 
Assets        15.15%   12.12%   15.15%   18.18%
Short-term investments—101% of CDI   660         (20)   
-
    20 
Exposure to CDI—Assets   660         (20)   
-
    20 
Liability        15.00%   12.00%   15.00%   18.00%
Debentures—100% of CDI   (7,992)        242    12    (228)
Exposure to CDI—Liabilities   (7,992)        242    12    (228)
Net exposure   (7,332)        222    12    (208)

 

(i) Based on spot rate, as of the date of this financial statements, as published by the Central Bank of Brazil.

 

(ii) Based on the projected forecast, as of December 31, 2025, as published by the Central Bank of Brazil.