v3.26.1
Income tax (Tables)
 12 Months Ended
Dec. 31, 2026
Dec. 31, 2025
Income Taxes [Abstract]    
Schedule of Major Components of Income Tax Expense  
The major components of income tax expense are:
 Year ended December 31,
 202320242025
 (in thousands)
Consolidated Statement of Operations
Current income tax expense (benefit)$2,683 $3,626 $888 
Deferred income tax expense (benefit)(9)(89)(56)
Income tax expense (benefit)$2,674 $3,537 $832 
Reconciliation of Income Taxes Computed at the French Statutory Rate
A reconciliation of income taxes computed at the French statutory rate 25.00% for the years ended December 31, 2025, 2024 and 2023 to the income tax expense (benefit) is as follows:
 Year ended December 31,
 202320242025
 (in thousands)
Profit (loss) before income taxes$(38,316)$61,104 $(108,447)
At France’s statutory income tax rate of 25% in 2023, 2024 and in 2025(9,579)15,276 (27,112)
Impact of French income taxed under IP Box regime at 10%— (8,793)— 
Non-deductible share-based payment expense1,776 1,023 753 
Tax credits(1,344)(955)(429)
Permanent differences and other212 (29)3,424 
Withholding tax2,055 — 235 
Use of tax loss carryforwards— (2,985)— 
Unrecognized benefit of tax losses carryforward9,554 — 23,961 
Income tax expense$2,674 $3,537 $832 
  
Significant Components of Deferred Tax Assets and Liabilities  
Significant components of the Company’s deferred tax assets and liabilities are as follows:
Consolidated Statement of Financial PositionEquityConsolidated Statement of Operations
December 31,December 31,Year ended December 31,
202320242025202320242025202320242025
(in thousands)(in thousands)(in thousands)
Government loan(127)(117)(61)— — — (135)11 56 
Tangible assets— — (599)— — — — — (599)
Intangible assets(120)(4)(28)— — — 13 116 (24)
Lease contracts— (105)8 — — — — (105)113 
Cash flow hedge2 1 — — — — 5 (1)(1)
Remeasurement of non-monetary accounts(3)103 128 — — — 485 106 25 
Deferred revenue— — 125 — — — — — 125 
Other provisions and accruals (962)(928)(396)— — — (468)33 532 
From subsidiaries264 173 129 — — — (9)(89)(56)
Deferred tax asset not recognized on losses (Loss available for offsetting against future taxable income)
1,210 1,050 823 — — — 100 (160)(227)
        Total$264 $173 $129 — $— $— $(9)$(89)$(56)
The changes in deferred tax assets and liabilities were as follows:
202320242025
(in thousands)
At January 1st$258 $264 $173 
Tax expense (income) during the year recognized in Profit or Loss(9)(89)(56)
Tax expense (income) during the year recognized in equity— — — 
Effect of foreign exchange15 (2)12 
At December 31st$264 $173 $129