v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net loss $ (23,570) $ (13,850)
Adjustments to reconcile net income (loss) to net cash generated by (used in) operating activities:    
Depreciation and amortization 1,902 1,599
Share based compensation 1,157 847
Change in allowances for doubtful accounts & slow-moving inventories 204 228
Change in fair value on EIB Warrants and loan amortization 7,938  
Change in long-term provisions 254 186
Net capital loss on disposals of assets 289 183
Deferred tax expense (benefit) 6 (20)
Operating cash flow before changes in working capital (11,820) (10,827)
Increase/Decrease in operating assets and liabilities:    
Decrease (Increase) in trade accounts and notes and other receivables 4,923 1,096
Decrease (Increase) in inventories (363) 2,287
Decrease (Increase) in other assets (636) 35
(Decrease) Increase in trade accounts and notes payable 332 (1,720)
(Decrease) Increase in accrued expenses, other current liabilities 901 (918)
Net change in operating assets and liabilities 5,157 779
Net cash generated by (used in) operating activities (6,663) (10,047)
Cash flows from investing activities:    
Additions to capitalized assets produced by the Company (1,396) (1,969)
Proceeds from sale of leased back assets 182  
Acquisitions of property and equipment (599) (62)
Acquisitions of intangible assets (189) (771)
Decrease (Increase) in deposits and guarantees (15) (113)
Net cash generated by (used in) investing activities (2,017) (2,917)
Cash flow from financing activities:    
Proceeds from capital increase 19  
Proceeds from long term borrowings, net of financing costs 13,964  
Repayment of long term borrowings (1,227) (1,400)
Repayment of obligations under financing leases (110) (99)
Increase (decrease) in bank overdrafts and short-term borrowings (2,243) 301
Net cash generated by (used in) financing activities 10,402 (1,198)
Net effect of exchange rate changes on cash and cash equivalents (633) 2,231
Net increase (decrease) in cash and cash equivalents 1,090 (11,932)
Cash and cash equivalents at beginning of year 20,452 30,995
Cash and cash equivalents at end of period $ 21,542 $ 19,063