v3.26.1
RISK MANAGEMENT (Tables)
 6 Months Ended
Jun. 30, 2026
Risk Management [Abstract]  
Summary of Detailed Information About Currency Risk Such balances included the following:
As of June 30, 2026As of June 30, 2025
Entities which have the Euro as the functional currency, exposed to GBP and USD
USD-denominated net liabilities (1)
(66,581)(84,031)
GBP-denominated net (liabilities) assets(882)6,390 
Entities which have USD or GBP as the functional currency, exposed to EUR
EUR-denominated net liabilities (2)
(7,371)(5,663)
(1) The balances do not include the effect of the cash flow hedge.
(2) The comparative balance has been revised as reported in the interim condensed consolidated financial statements for the period ended June 30, 2025.

Based on the sensitivity analyses performed, movements in USD and GBP exchange rates to EUR (for entities which have the Euro as the functional currency) and movements in EUR exchange rates to USD and GBP (for entities which have USD or GBP as the functional currency), by 10% would result on average in the following gains or losses to the Company’s net loss:
Six months ended June 30,
20262025
Entities which have the Euro as the functional currency, exposed to GBP and USD
USD6,728 8,488 
GBP89 742 
Entities which have USD or GBP as the functional currency, exposed to EUR
EUR (1)
745 574 
(1) The comparative balance has been revised as reported in the interim condensed consolidated financial statements for the period ended June 30, 2025.
Summary of Amounts Related to Cash Flow Hedge
The amounts relating to the CCIRS designated as a cash flow hedge as of June 30, 2026 were as follows:

As of June 30, 2026
Nominal amountCarrying Amount of Asset (Liability)Line item in the Statement of Financial Position where the hedging instrument is included
CCIRS60,938 333 Derivative Financial Instrument

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Changes in the value of the hedging instrument recognized in OCI (net of related tax)553 (2,669)2,047 (2,669)
Hedge ineffectiveness gain (loss) recognized in profit or loss30 (11)— (11)
Amount reclassified from hedging reserve to profit or loss (net of related tax)(173)2,024 (1,664)2,024 
Summary of Credit Risk Exposure
Credit risk arises from cash and cash equivalents, trade and other receivables and other non-current assets. The exposure as of the reporting date was as follows:
As of
June 30,
2026		As of
December 31,
2025
Trade and other receivables (excluding prepayments and VAT receivable)20,007 23,533 
Cash and cash equivalents8,809 15,814 
Other non-current assets (1)
510 360 
29,326 39,707 
(1) The comparative balance has been revised as reported in the interim condensed consolidated financial statements for the period ended December 31, 2025.
Summary of Aging of Trade Receivables
The aging of trade receivables that are past due but not impaired is shown below:
As of
June 30,
2026		As of
December 31,
2025
1-30 days past due5,053 4,896 
31-60 days past due1,981 2,906 
61-90 days past due985 1,212 
More than 90 days past due1,281 992 
9,300 10,006 
Summary of Activity in the Credit Loss Allowance
The activity in the credit loss allowance was as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Balance at the beginning of the period1,773 1,971 1,816 1,664 
Movements in credit loss allowance(75)87 (20)344 
Write-offs(184)(11)(234)(52)
Translation effect(4)129 (52)220 
Balance at the end of the period1,510 2,176 1,510 2,176 
Summary of Maturity Profile for Financial Liabilities
The following table summarizes the maturity profile of the Company’s financial liabilities based on contractual undiscounted payments. Trade and other payables due in less than 1 year equal their carrying values as the impact of discounting is insignificant.
Less than 1 yearBetween 1 and 2 yearsMore than 2 yearsTOTAL
As of June 30, 2026
Non-derivative financial instruments
Deferred consideration (1)
27,966 — — 27,966 
Contingent consideration (2)
— 149 — 149 
Borrowings and interest (3)
19,798 120,459 — 140,257 
Lease liability1,397 1,218 2,060 4,675 
Trade and other payables (4)
10,433 — — 10,433 
59,594 121,826 2,060 183,480 
Derivative financial instrument
Cross-currency interest rate swap used for hedging:
    Outflow13,891 51,481 — 65,372 
    Inflow(14,818)(51,596)— (66,414)
Total(927)(115)— (1,042)
As of December 31, 2025
Non-derivative financial instruments
Deferred consideration (1)
5,005 38,299 — 43,304 
Contingent consideration (2)
— — 149 149 
Borrowings and interest (3)
19,629 18,842 102,730 141,201 
Lease liability1,494 1,428 2,573 5,495 
Trade and other payables (4)
9,902 1,120 — 11,022 
36,030 59,689 105,452 201,171 
Derivative financial instrument
Cross-currency interest rate swap used for hedging:
    Outflow14,566 14,035 46,047 74,648 
    Inflow(15,208)(14,421)(44,469)(74,098)
Total(642)(386)1,578 550 
(1) See Note 16 for settlement of the deferred consideration.
(2) See Note 5 for settlement of the contingent consideration.
(3) The amounts above include contractual interest obligations for floating rate borrowings as at the end of each period based on the amortization schedule for such borrowings and the interest rate for the period.
(4) The amounts above include trade payables, accrued bonuses related to acquisition, accrued legal fees, accrued general expenses and other financial liabilities.