Share-Based Compensation (Tables)
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6 Months Ended |
Jun. 30, 2026 |
|---|
| Share-Based Payment Arrangement [Abstract] |
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| Schedule of Stock Option Activity |
The changes for the six months ended June 30, 2026 in the number of Company Options outstanding and their related weighted average exercise prices are as follows:
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Number of options |
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Weighted average exercise price |
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Weighted average remaining contractual term
(in years) |
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Aggregate intrinsic value
(in thousands of USD) |
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Outstanding as at December 31, 2025 |
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20,625,368 |
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$ |
13.62 |
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Granted |
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2,339,540 |
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$ |
34.91 |
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Exercised |
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(2,943,216 |
) |
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$ |
7.78 |
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Forfeited |
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(149,779 |
) |
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$ |
23.11 |
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Outstanding as at June 30, 2026 |
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19,871,913 |
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$ |
16.91 |
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7.6 |
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340,768 |
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Options exercisable as at June 30, 2026 |
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10,655,873 |
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$ |
12.39 |
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|
6.9 |
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|
229,125 |
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| Schedule of Weighted Average Assumptions for Stock Options |
Weighted average assumptions used to apply this pricing model were as follows:
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Six months ended June 30, |
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2026 |
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2025 |
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Expected life (years) |
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6.1 |
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6.1 |
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Risk-free rate |
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3.8 |
% |
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4.4 |
% |
Volatility |
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52.2 |
% |
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47.5 |
% |
Dividend yield |
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|
0.0 |
% |
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|
0.0 |
% |
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| Schedule of Restricted Stock Unit Activity |
The changes for the six months ended June 30, 2026 in the number of RSUs outstanding are as follows:
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Number of RSUs |
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Weighted average Fair Value Per Share |
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Outstanding as at December 31, 2025 |
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728,283 |
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$ |
25.28 |
|
Granted |
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|
514,990 |
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$ |
34.89 |
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Vested |
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(239,784 |
) |
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$ |
25.13 |
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Forfeited/Cancelled |
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(10,073 |
) |
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$ |
31.41 |
|
Outstanding as at June 30, 2026 |
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|
993,416 |
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$ |
30.23 |
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| Summary of Share-Based Payment Expense |
The following summarizes the share-based compensation expense recognized by type of award and line-item:
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Three months ended June 30, |
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Six months ended June 30, |
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(in thousands of USD) |
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2026 |
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2025 |
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2026 |
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2025 |
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Share-based compensation expense by type of award |
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Share options |
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14,365 |
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12,518 |
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28,375 |
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25,090 |
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Restricted stock units |
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4,016 |
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2,661 |
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8,008 |
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|
5,302 |
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Total share-based compensation expense |
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18,381 |
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|
15,179 |
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|
36,383 |
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30,392 |
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Share-based compensation expense by line-item |
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Research and development expenses |
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5,903 |
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5,108 |
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|
12,751 |
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10,331 |
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Selling, general and administrative expenses |
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12,478 |
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10,071 |
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23,632 |
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|
20,061 |
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Total share-based compensation expense |
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18,381 |
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|
15,179 |
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36,383 |
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30,392 |
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