Short-Term Borrowing (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Short-Term Borrowing [Abstract] |
|
| Schedule of Short-Term Borrowing |
| |
|
March 31,
2026 |
|
|
December 31,
2025 |
|
| Recourse financing [refer (A) below] |
|
$ |
24 |
|
|
$ |
161 |
|
| Convertible notes [refer (B) below] |
|
|
1,141 |
|
|
|
10,543 |
|
| Debt with credit institutions – current [refer (C) below] |
|
|
7,838 |
|
|
|
- |
|
| Others |
|
|
85 |
|
|
|
33 |
|
| Total |
|
$ |
9,088 |
|
|
$ |
10,737 |
|
|
| Schedule of Changes in the Fair Value of the Debentures |
The
following table represents changes in the fair value of the 2025 Debentures for the periods presented:
| |
|
March 31,
2026 |
|
|
December 31,
2025 |
|
| Opening balance - fair
value |
|
$ |
10,543 |
|
|
$ |
12,000 |
|
| Less: Debt repayment |
|
|
(1,670 |
) |
|
|
- |
|
| Less: Conversions to equity stock (fair
value) |
|
|
(10,167 |
) |
|
|
(1,416 |
) |
| Changes in fair
value (recognized in earnings) |
|
|
2,435 |
|
|
|
(41 |
) |
| Closing
balance - fair value |
|
$ |
1,141 |
|
|
$ |
10,543 |
|
|
| Schedule of Debt From Credit Institutions |
Credit
institution |
|
Facility
type |
|
Interest
rate |
|
|
Conditions |
|
Maturity
date |
|
As
of
January 1,
2026 |
|
|
Additions
during
the period |
|
|
Repayments
during
the period |
|
|
As
of
March 31,
2026 |
|
|
Short
term |
|
|
Long
term |
|
| Caixabank |
|
Working
capital |
|
|
1.30 |
% |
|
Fixed
rate |
|
10/26/2026 |
|
|
- |
|
|
|
1,503 |
|
|
|
(1,341 |
) |
|
|
162 |
|
|
|
162 |
|
|
|
- |
|
| Bankinter |
|
” |
|
|
5.24 |
% |
|
Eur
12m + 2.50% |
|
7/23/2026 |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Banco
Santander |
|
” |
|
|
4.71 |
% |
|
Eur
6m + 2.25% |
|
5/13/2026 |
|
|
- |
|
|
|
4,950 |
|
|
|
(4,615 |
) |
|
|
335 |
|
|
|
335 |
|
|
|
- |
|
| BBVA |
|
” |
|
|
3.56 |
% |
|
Eur
3m + 1.40% |
|
10/5/2026 |
|
|
(1 |
) |
|
|
3,796 |
|
|
|
(3,511 |
) |
|
|
284 |
|
|
|
284 |
|
|
|
- |
|
| BBVA
Click & Pay |
|
” |
|
|
3.96 |
% |
|
Eur
6m + 1.5% |
|
6/21/2026 |
|
|
252 |
|
|
|
28 |
|
|
|
- |
|
|
|
280 |
|
|
|
280 |
|
|
|
- |
|
| Caixabank |
|
” |
|
|
4.24 |
% |
|
Eur
12m + 1.50% |
|
11/27/2026 |
|
|
(5 |
) |
|
|
5,784 |
|
|
|
(5,486 |
) |
|
|
293 |
|
|
|
293 |
|
|
|
- |
|
| Abanca |
|
” |
|
|
1.80 |
% |
|
Fixed
rate |
|
7/5/2027 |
|
|
222 |
|
|
|
488 |
|
|
|
(480 |
) |
|
|
230 |
|
|
|
- |
|
|
|
230 |
|
| Unicaja |
|
” |
|
|
3.56 |
% |
|
Eur
3m + 1.40% |
|
6/24/2026 |
|
|
- |
|
|
|
346 |
|
|
|
(116 |
) |
|
|
230 |
|
|
|
230 |
|
|
|
- |
|
| Ibercaja
Multiproducto Multiempresa |
|
” |
|
|
3.71 |
% |
|
Eur
6m + 1.25% |
|
3/15/2027 |
|
|
443 |
|
|
|
444 |
|
|
|
(427 |
) |
|
|
460 |
|
|
|
460 |
|
|
|
- |
|
| Targobank |
|
” |
|
|
1.51 |
% |
|
Fixed
rate |
|
5/29/2026 |
|
|
38 |
|
|
|
- |
|
|
|
(19 |
) |
|
|
19 |
|
|
|
19 |
|
|
|
- |
|
| Deutsche |
|
” |
|
|
4.24 |
% |
|
Eur
12m + 1.50% |
|
9/5/2027 |
|
|
- |
|
|
|
2,471 |
|
|
|
(2,299 |
) |
|
|
172 |
|
|
|
- |
|
|
|
172 |
|
| Bankia |
|
Long
term |
|
|
1.50 |
% |
|
Fixed
rate |
|
4/27/2026 |
|
|
20 |
|
|
|
- |
|
|
|
(15 |
) |
|
|
5 |
|
|
|
5 |
|
|
|
- |
|
| Bsabadell |
|
” |
|
|
4.80 |
% |
|
Eur
12m + 1.10% |
|
4/29/2028 |
|
|
239 |
|
|
|
- |
|
|
|
(25 |
) |
|
|
214 |
|
|
|
101 |
|
|
|
113 |
|
| Bankinter |
|
Working
capital |
|
|
3.41 |
% |
|
Eur
3m + 1.25% |
|
7/23/2026 |
|
|
180 |
|
|
|
67 |
|
|
|
(135 |
) |
|
|
112 |
|
|
|
112 |
|
|
|
- |
|
| Caixabank |
|
” |
|
|
3.36 |
% |
|
Eur
3m + 1.20% |
|
10/22/2026 |
|
|
805 |
|
|
|
805 |
|
|
|
(805 |
) |
|
|
805 |
|
|
|
805 |
|
|
|
- |
|
| Deutsche |
|
” |
|
|
3.95 |
% |
|
Eur
6m + 1.50% |
|
7/4/2029 |
|
|
1,267 |
|
|
|
848 |
|
|
|
(959 |
) |
|
|
1,156 |
|
|
|
1,156 |
|
|
|
- |
|
| Ibercaja
Multiproducto Multiempresa |
|
” |
|
|
3.56 |
% |
|
Eur
3m + 1.25% |
|
3/15/2027 |
|
|
62 |
|
|
|
31 |
|
|
|
- |
|
|
|
93 |
|
|
|
93 |
|
|
|
- |
|
| Abanca |
|
” |
|
|
4.01 |
% |
|
Eur
3m + 1.85% |
|
6/20/2026 |
|
|
230 |
|
|
|
287 |
|
|
|
(230 |
) |
|
|
287 |
|
|
|
287 |
|
|
|
- |
|
| Caixabank |
|
” |
|
|
1.30 |
% |
|
Fixed
rate |
|
10/26/2026 |
|
|
- |
|
|
|
2,701 |
|
|
|
(2,476 |
) |
|
|
225 |
|
|
|
225 |
|
|
|
- |
|
| Bankinter |
|
” |
|
|
5.24 |
% |
|
Eur
12m + 2.50% |
|
7/23/2026 |
|
|
- |
|
|
|
116 |
|
|
|
(116 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Bankinter
Línea Pago Impuestos |
|
” |
|
|
1.1
trim. |
% |
|
One-time
fee of 1.1% for 3 months |
|
7/23/2026 |
|
|
115 |
|
|
|
- |
|
|
|
(115 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Banco
Santander |
|
” |
|
|
4.32 |
% |
|
Eur
6m + 1.86% |
|
5/11/2026 |
|
|
- |
|
|
|
1,550 |
|
|
|
(949 |
) |
|
|
601 |
|
|
|
601 |
|
|
|
- |
|
| BBVA |
|
” |
|
|
3.56 |
% |
|
Eur
3m + 1.40% |
|
10/5/2026 |
|
|
(2 |
) |
|
|
3,032 |
|
|
|
(2,745 |
) |
|
|
285 |
|
|
|
285 |
|
|
|
- |
|
| BBVA
Click & Pay |
|
” |
|
|
3.96 |
% |
|
Eur
6m + 1.5% |
|
6/21/2026 |
|
|
287 |
|
|
|
161 |
|
|
|
(167 |
) |
|
|
281 |
|
|
|
281 |
|
|
|
- |
|
| Caixabank |
|
” |
|
|
4.24 |
% |
|
Eur
12m + 1.50% |
|
11/27/2026 |
|
|
(2 |
) |
|
|
4,055 |
|
|
|
(3,963 |
) |
|
|
90 |
|
|
|
90 |
|
|
|
- |
|
| Ibercaja |
|
” |
|
|
3.56 |
% |
|
Eur
3m + 1.25% |
|
3/15/2027 |
|
|
124 |
|
|
|
653 |
|
|
|
(605 |
) |
|
|
172 |
|
|
|
172 |
|
|
|
- |
|
| Deutsche |
|
” |
|
|
4.24 |
% |
|
Eur
12m + 1.50% |
|
9/5/2027 |
|
|
- |
|
|
|
1,697 |
|
|
|
(1,583 |
) |
|
|
114 |
|
|
|
- |
|
|
|
114 |
|
| BBVA |
|
Long
term |
|
|
4.60 |
% |
|
Eur
12m + 2.50% |
|
4/27/2026 |
|
|
32 |
|
|
|
- |
|
|
|
(24 |
) |
|
|
8 |
|
|
|
8 |
|
|
|
- |
|
| Deutsche |
|
” |
|
|
3.85 |
% |
|
Eur
12m + 1.65% |
|
11/23/2026 |
|
|
80 |
|
|
|
- |
|
|
|
(22 |
) |
|
|
58 |
|
|
|
58 |
|
|
|
- |
|
| Caixabank |
|
Working
capital |
|
|
3.36 |
% |
|
Eur
3m + 1.20% |
|
10/22/2026 |
|
|
1,265 |
|
|
|
1,266 |
|
|
|
(1,265 |
) |
|
|
1,266 |
|
|
|
1,266 |
|
|
|
- |
|
| Deutsche |
|
” |
|
|
3.95 |
% |
|
Eur
6m + 1.50% |
|
7/4/2029 |
|
|
230 |
|
|
|
345 |
|
|
|
(345 |
) |
|
|
230 |
|
|
|
230 |
|
|
|
- |
|
| Ibercaja
multipruducto |
|
” |
|
|
|
|
|
|
|
|
|
|
21 |
|
|
|
- |
|
|
|
(21 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
5,902 |
|
|
|
37,424 |
|
|
|
(34,859 |
) |
|
|
8,467 |
|
|
|
7,838 |
|
|
|
629 |
|
|
| Schedule of Credit Facility |
| Fiscal Year |
|
As of
March 31,
2026 |
|
| 2026 |
|
$ |
7,838 |
|
| 2027 |
|
$ |
620 |
|
| 2028 |
|
$ |
9 |
|
| |
|
March 31,
2026 |
|
|
December 31,
2025 |
|
| Current |
|
|
7,838 |
|
|
|
- |
|
| Non-current |
|
|
629 |
|
|
|
- |
|
| Total |
|
$ |
8,467 |
|
|
$ |
- |
|
|