Financial instruments and fair values (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Notes and other explanatory information [abstract] |
|
| Schedule of financial instruments |
Schedule
of financial instruments
| (SEK
in thousand) | |
Fair
value through Consolidated Statements of Loss and Other Comprehensive Loss | | |
Amortized
cost | | |
Fair
value through Consolidated Statements of Loss and Other Comprehensive Loss | | |
Amortized
cost | |
| | |
As
of June 30, 2026 | | |
As
of December 31, 2025 | |
| (SEK
in thousand) | |
Fair
value through Consolidated Statements of Loss and Other Comprehensive Loss | | |
Amortized
cost | | |
Fair
value through Consolidated Statements of Loss and Other Comprehensive Loss | | |
Amortized
cost | |
| Financial
assets | |
| | | |
| | | |
| | | |
| | |
| Deposits | |
| - | | |
| 3,276 | | |
| - | | |
| 2,573 | |
| Trade receivables | |
| - | | |
| 27,680 | | |
| - | | |
| 21,015 | |
| Accrued income | |
| - | | |
| 61,289 | | |
| - | | |
| 29,516 | |
| Other receivables | |
| - | | |
| 28,862 | | |
| - | | |
| 38,499 | |
| Cash | |
| - | | |
| 747,601 | | |
| - | | |
| 278,825 | |
| | |
| | | |
| | | |
| | | |
| | |
| Financial
liabilities | |
| | | |
| | | |
| | | |
| | |
| Loans and borrowings (current
and non-current) | |
| - | | |
| 49,302 | | |
| - | | |
| 16,240 | |
| Convertible debentures | |
| - | | |
| - | | |
| - | | |
| 207,716 | |
| Lease liabilities | |
| - | | |
| 732,794 | | |
| - | | |
| 642,553 | |
| Trade and other payables | |
| - | | |
| 421,318 | | |
| - | | |
| 277,089 | |
| Liabilities associated with
cash advances | |
| - | | |
| 389,423 | | |
| - | | |
| 354,842 | |
| Warrant derivative liabilities | |
| 2,306,914 | | |
| - | | |
| 128,381 | | |
| - | |
| Embedded derivatives in convertible | |
| - | | |
| - | | |
| 4,603 | | |
| - | |
| Other liabilities | |
| - | | |
| 38,530 | | |
| - | | |
| 30,086 | |
| Accrued expenses | |
| - | | |
| 160,747 | | |
| - | | |
| 146,786 | |
|
| Schedule of fair value of financial assets and liabilities |
Schedule
of fair value of financial assets and liabilities
| Financial liabilities | |
| | |
As
of June 30, | | |
As
of December 31, | |
| (SEK
in thousand) | |
Level | | |
2026 | | |
2025 | |
| Non-current derivative,
warrants to investor | |
| 3 | | |
| 4,432 | | |
| 128,381 | |
| Non-current derivative, warrants
related to the PIPE transactions | |
| 3 | | |
| 605,379 | | |
| - | |
| Non-current
derivative, warrants to customer | |
| 3 | | |
| 669,465 | | |
| - | |
| Non
Current Derivative | |
| | | |
| 1,279,275 | | |
| 128,381 | |
| Current Embedded derivatives | |
| 3 | | |
| - | | |
| 4,603 | |
| Current derivative, warrants
to investor | |
| 3 | | |
| - | | |
| - | |
| Current derivative, warrants
related to the PIPE transactions | |
| 3 | | |
| 225,053 | | |
| - | |
| Current derivative, warrants
to the SPAC transactions | |
| 3 | | |
| 215,310 | | |
| - | |
| Current
derivative, warrants to customer | |
| 3 | | |
| 587,275 | | |
| - | |
| Current
Derivative | |
| | | |
| 1,027,638 | | |
| 4,603 | |
| DerivativeFinancial
Liabilities | |
| | | |
| 2,306,914 | | |
| 132,984 | |
|
| Schedule of warrant liability investor |
Schedule
of warrant liability investor
| | |
June
30, 2026 | | |
December
31, 2025 | |
| Exercise price in USD | |
| 21.58 | | |
| 21.58 | |
| ADS price in USD *) | |
| 8.65 | | |
| 14.55 | |
| Expected volatility | |
| 37.0 | % | |
| 37.0 | % |
| Risk-free rate | |
| 4.14 | % | |
| 3.50 | % |
| Remaining term (years) | |
| 2.25 | | |
| 2.75 | |
| * | | )
The ADS price for the period ending December 31, 2025, is not an ADS price but the implied share price used in the Black-Sholes valuation. |
|
| Schedule of warrant liabilities for PIPE financing |
Schedule
of warrant liabilities for PIPE financing
| | |
June
9, 2026 | | |
June
30, 2026 | |
| Exercise
price in USD | |
| 10.90 | | |
| 10.90 | |
| ADS
price in USD | |
| 9.55 | | |
| 8.65 | |
| Expected
volatility | |
| 37.0 | % | |
| 37.0 | % |
| Risk-free
rate | |
| 4.17 | % | |
| 4.19 | % |
| Remaining
term (years) | |
| 5.00 | | |
| 4.94 | |
|
| Schedule of PIPE warrants, right to additional warrants and reset of warrants |
Schedule
of PIPE warrants, right to additional warrants and reset of warrants
| (SEK
in thousand) | |
PIPE
warrants | | |
Rights
to additional Warrants | | |
Right
to reset Warrants | | |
Total | |
| Recognized on
issue (June 9, 2026) | |
| 671,040 | | |
| 201,199 | | |
| 45,138 | | |
| 917,377 | |
| Net (gains)/losses recognized
in profit or loss | |
| (87,502 | ) | |
| (61,313 | ) | |
| 32,012 | | |
| (116,803 | ) |
| Foreign
currency translation adjustment | |
| 21,840 | | |
| 6,548 | | |
| 1,469 | | |
| 29,857 | |
| As of
June 30, 2026 (Level 3) | |
| 605,379 | | |
| 146,434 | | |
| 78,619 | | |
| 830,431 | |
|
| Schedule of warrant liabilities in SPAC financing |
Schedule
of warrant liabilities in SPAC financing
| | |
June
9, 2026 | | |
June
30, 2026 | |
| Exercise price in USD | |
| 11.50 | | |
| 11.50 | |
| ADS price in USD *) | |
| 9.76 | | |
| 8.65 | |
| Expected volatility | |
| 37.0 | % | |
| 37.0 | % |
| Risk-free rate | |
| 3.62 | % | |
| 4.15 | % |
| Remaining term (years) | |
| 5.00 | | |
| 4.94 | |
| Redemption (call) threshold
in USD | |
| 18.00 | | |
| 18.00 | |
| Fair value per warrant in
USD | |
| 2.78 | | |
| 2.14 | |
| * | | )
The ADS price for June 9, 2026, is not an ADS price but the implied share price used in the Monte Carlo valuation
model. |
|
| Schedule of warrant outstanding |
The movement in these Level 3 liabilities, all of which were outstanding at June 30, 2026, was:
Schedule
of warrant outstanding
| (SEK in thousand) | |
SPAC warrants | |
| Warrant liabilities assumed on Closing (June 9, 2026) | |
| 270,886 | |
| Net gains recognized in profit or loss | |
| (64,392 | ) |
| Foreign currency translation adjustment | |
| 8,816 | |
| As of June 30, 2026 (Level 3) | |
| 215,310 | |
|
| Schedule of warrant liability for customer |
Schedule
of warrant liability for customer
| | |
March
18, 2026 | | |
June
30, 2026 | |
| Exercise price in USD | |
| 7.41 | | |
| 6.32 | |
| ADS price in USD | |
| 9.76 | | |
| 8.65 | |
| Underlying equity value in
USD million | |
| 1,620 | | |
| 1,242 | |
| Expected volatility | |
| 37.0 | % | |
| 37.0 | % |
| Risk-free rate | |
| 4.05 | % | |
| 4.43 | % |
| Remaining term (years) | |
| 10.00 | | |
| 9.71 | |
|