v3.26.1
Consolidated Statements of Financial Position
€ in Thousands
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Non-current assets:      
Property, plant and equipment $ 4,299,000 $ 4,308,000 $ 6,815,000
Intangible assets 8,522,000 5,641,000 64,300,000
Goodwill 3,676,000 0 0
Digital assets, pledged as collateral for convertible debt 141,505,000 0 0
Digital assets, unrestricted 45,686,000   0
Deposits and other receivables 2,161,000 3,246,000 801,000
Prepaid expenses 2,213,000 0 0
Other non-current financial assets 409,000 353,000 360,000
Total non-current assets 208,471,000 13,548,000 72,276,000
Current assets:      
Inventories 3,933,000 2,874,000 6,335,000
Trade receivables 3,278,000 4,809,000 8,115,000
Contract assets 98,000 122,000 497,000
Prepaid expenses 2,564,000 1,410,000 1,422,000
Other receivables 5,953,000 17,492,000 4,958,000
Research tax credit receivable 5,898,000 4,184,000 9,864,000
Short-term deposits 0 53,000,000 0
Cash and cash equivalents 13,386,000 9,093,000 5,705,000
Total current assets 35,110,000 92,984,000 36,896,000
Total assets 243,581,000 106,532,000 109,172,000
Equity (deficit):      
Issued capital, euro 0.01 nominal value, 1,599,589,702 ordinary shares issued and outstanding at December 31, 2025 (251,408,922 at December 31, 2024 and 246,262,004 at December 31, 2023) 18,718,000 2,934,000 2,878,000
Share premium 185,598,000 14,512,000 14,568,000
Other capital reserves 77,515,000 74,504,000 70,261,000
Treasury shares (9,363,000) 0 0
Accumulated deficit (145,074,000) (35,795,000) (93,362,000)
Other components of equity 284,000 (796,000) (416,000)
Total equity (deficit) 127,678,000 55,359,000 (6,071,000)
Non-current liabilities:      
Government loans 0 616,000 173,000
Government research financing 3,297,000 5,669,000 3,083,000
Lease liabilities 1,225,000 333,000 1,645,000
Provisions 2,112,000 1,400,000 2,222,000
Trade payables and other non-current liabilities 1,360,000 0 0
Deferred tax liabilities 129,000 173,000 264,000
Contract liabilities 3,157,000 809,000 0
Total non-current liabilities 11,280,000 9,000,000 7,387,000
Current liabilities:      
Trade payables 10,081,000 6,106,000 16,281,000
Interest-bearing financing of receivables 0 3,742,000 9,544,000
Convertible debt 56,422,000 0 52,278,000
Convertible debt embedded derivative 10,800,000 0 3,000
Lease liabilities 601,000 1,439,000 1,471,000
Unsecured related party loan 0 0 8,922,000
Government loans 979,000 1,802,000 1,727,000
Government research financing 4,308,000 4,062,000 2,879,000
Other current liabilities and provisions 11,084,000 11,174,000 8,899,000
Income tax liabilities of the parent company 3,124,000 2,827,000 0
Contract liabilities 7,224,000 11,021,000 5,852,000
Total current liabilities 104,623,000 42,173,000 107,856,000
Total equity and liabilities $ 243,581,000 $ 106,532,000 $ 109,172,000