v3.26.1
Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Loss before tax $ (41,347) $ (38,534)
Adjustments for non-monetary items    
Depreciation 2,159 1,927
Amortization 3,499 2,740
Finance expense, net 3,354 4,037
Fair value adjustments on warrant obligations 409 (20)
Expected credit loss allowance increase (reversal) 40 252
Share-based compensation 7,805 8,191
Movements in provisions and pensions 440 304
Research tax credit (441) (528)
Working capital changes    
Decrease (increase) in accounts receivable 589 (1,298)
Decrease (increase) in prepaids and other assets 628 934
Decrease (increase) in inventory (1,123) 362
Increase (decrease) in accounts payables, accrued expenses, deferred contract revenue, and other liabilities 1,227 2,815
Cash used in operating activities (22,761) (18,818)
Income tax paid (51) (146)
Net cash flows used in operating activities (22,812) (18,964)
Investing activities    
Purchase of property and equipment (1,026) (130)
Acquisition of intangible assets 0 (87)
Capitalized development costs (4,541) (3,250)
Interest received 520 876
Net cash flow used in investing activities (5,047) (2,591)
Financing activities    
Proceeds from exercise of share options 1,233 115
Interest paid (2,715) (1,240)
Proceeds from borrowings, net of transaction costs 0 34,563
Payments of principal portion of lease liabilities (1,201) (889)
Net cash flow provided by/(used in) financing activities 67,032 32,549
Increase (decrease) in cash and cash equivalents 39,173 10,994
Effect of exchange differences on cash balances (1,797) 3,602
Cash and cash equivalents at beginning of the period 70,289 80,226
Cash and cash equivalents at end of the period 107,665 94,822
Proceeds from sale of common stock in at-the-market offering, net of transaction costs    
Financing activities    
Proceeds from issuing shares 15,667 0
Proceeds from sale of common stock in follow-on offering, net of transaction costs    
Financing activities    
Proceeds from issuing shares $ 54,048 $ 0