Financial instruments - fair values and risk management (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Financial instruments - fair values and risk management. |
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| Schedule of financial assets |
| | | | | | | June 30, 2026 | | December 31, 2025 | Financial assets at amortized cost | | | | | Trade receivables | | 30,226 | | 31,743 | Cash | | 78,242 | | 62,908 | Loans receivable | | 510 | | 1,490 | Other investments - current | | 38,010 | | 45,408 | Total | | 146,988 | | 141,549 |
| | | | | | | June 30, 2026 | | December 31, 2025 | Financial assets measured at fair value | | | | | Other investments - current - fair value through profit or loss - Level 1 | | 5,239 | | — | Other investments - non-current - fair value through other comprehensive income - Level 1 | | 3,243 | | 3,341 | Other investments - non-current - fair value through profit or loss - Level 1 | | 15,770 | | 13,074 | Total | | 24,252 | | 16,415 |
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| Schedule of financial liabilities |
| | | | | | | June 30, 2026 | | December 31, 2025 | Financial liabilities not measured at fair value | | | | | Trade and other payables | | 27,742 | | 25,138 | Total | | 27,742 | | 25,138 |
| | | | | | | June 30, 2026 | | December 31, 2025 | Financial liabilities measured at fair value | | | | | Share warrant obligations - Level 1 | | 150 | | 362 | Total | | 150 | | 362 |
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| Schedule of maximum exposure to credit risk at the reporting date |
| | | | | | | June 30, 2026 | | December 31, 2025 | Loans receivables | | 510 | | 1,490 | Trade receivables | | 30,226 | | 31,743 | Cash | | 78,242 | | 62,908 | Other investments - current | | 43,249 | | 45,408 | Other investments - non-current | | 19,013 | | 16,415 |
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| Schedule of exposure to credit risk |
| | | | | | | | | | | | | | | Weighted | | Gross | | | | | | | Equivalent to external | | average | | carrying | | Impairment loss | | Credit | December 31, 2025 | | credit rating | | loss rate | | amount | | allowance | | Impaired | Low risk | | Baa3 – A3 | | 0.05 | % | 33,203 | | (15) | | No | Loss | | Ca-C – Aa2 | | 100 | % | 1,447 | | (1,447) | | Yes | | | | | | | 34,650 | | (1,462) | | |
| | | | | | | | | | | | | | | Weighted | | Gross | | | | | | | Equivalent to external | | average | | carrying | | Impairment loss | | Credit | June 30, 2026 | | credit rating | | loss rate | | amount | | allowance | | Impaired | Low risk | | Baa3 – A3 | | 0.03 | % | 30,643 | | (8) | | No | Loss | | Ca-C – Aa2 | | 100 | % | 1,447 | | (1,447) | | Yes | | | | | | | 32,090 | | (1,455) | | |
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| Schedule of contractual maturities of non-derivative financial liabilities |
| | | | | | | | | | | December 31, 2025 | | Carrying amounts | | Contractual cash flows | | 3 months or less | | Between 3‑12 months | | Between 1‑5 years | Non‑derivative financial liabilities | | | | | | | | | | | Lease liabilities | | 1,087 | | 1,136 | | 228 | | 618 | | 290 | Trade and other payables | | 25,138 | | 25,138 | | 25,138 | | — | | — | | | 26,225 | | 26,274 | | 25,366 | | 618 | | 290 |
| | | | | | | | | | | June 30, 2026 | | Carrying amounts | | Contractual cash flows | | 3 months or less | | Between 3‑12 months | | Between 1‑5 years | Non‑derivative financial liabilities | | | | | | | | | | | Lease liabilities | | 1,737 | | 1,812 | | 251 | | 1,120 | | 441 | Trade and other payables | | 27,742 | | 27,742 | | 27,742 | | — | | — | | | 29,479 | | 29,554 | | 27,993 | | 1,120 | | 441 |
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| Schedule of contractual maturities of derivatives financial liabilities |
| | | | | | | | | | | December 31, 2025 | | Carrying amounts | | Contractual cash flows | | 3 months or less | | Between 3‑12 months | | Between 1‑5 years | Derivative financial liabilities | | | | | | | | | | | Share warrant obligation | | 362 | | 362 | | — | | — | | 362 | Put option liability | | 15,002 | | 15,002 | | 15,002 | | — | | — | | | 15,364 | | 15,364 | | 15,002 | | — | | 362 |
| | | | | | | | | | | June 30, 2026 | | Carrying amounts | | Contractual cash flows | | 3 months or less | | Between 3‑12 months | | Between 1‑5 years | Derivative financial liabilities | | | | | | | | | | | Share warrant obligation | | 150 | | 150 | | — | | 150 | | — | Put option liability | | 15,002 | | 15,002 | | 15,002 | | — | | — | | | 15,152 | | 15,152 | | 15,002 | | 150 | | — |
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| Schedule of exposure to foreign currency risk |
| | | | | | | | | | | | | | | | | | | | | | | Armenian | | Kazakhstani | | United Arab | | British | | | | | December 31, 2025 | | Euro | | Russian Ruble | | Dram | | Tenge | | Emirates dirham | | pound sterling | | Japanese yen | | Hong Kong dollar | Assets | | | | | | | | | | | | | | | | | Loans receivable | | 156 | | — | | 1 | | — | | — | | — | | — | | — | Trade and other receivables | | 3,540 | | — | | — | | 8 | | — | | — | | — | | — | Cash | | 23,283 | | 101 | | 551 | | 1,053 | | — | | — | | — | | — | | | 26,979 | | 101 | | 552 | | 1,061 | | — | | — | | — | | — | Liabilities | | | | | | | | | | | | | | | | | Lease liabilities | | (831) | | — | | (256) | | — | | — | | — | | — | | — | Trade and other payables | | (5,182) | | — | | (1,035) | | (74) | | — | | (42) | | (34) | | — | | | (6,013) | | — | | (1,291) | | (74) | | — | | (42) | | (34) | | — | Net exposure | | 20,966 | | 101 | | (739) | | 987 | | — | | (42) | | (34) | | — |
| | | | | | | | | | | | | | | | | | | | | | | Armenian | | Kazakhstani | | United Arab | | British | | | | | June 30, 2026 | | Euro | | Russian Ruble | | Dram | | Tenge | | Emirates dirham | | pound sterling | | Japanese yen | | Hong Kong dollar | Assets | | | | | | | | | | | | | | | | | Loans receivable | | 174 | | — | | — | | — | | — | | — | | — | | — | Trade and other receivables | | 7,354 | | — | | 12 | | 5 | | — | | — | | — | | 1,777 | Cash | | 20,190 | | 102 | | 73 | | 1,127 | | — | | — | | — | | — | | | 27,718 | | 102 | | 85 | | 1,132 | | — | | — | | — | | 1,777 | Liabilities | | | | | | | | | | | | | | | | | Lease liabilities | | (1,460) | | — | | (276) | | — | | — | | — | | — | | — | Trade and other payables | | (6,805) | | — | | (1,649) | | (174) | | — | | — | | (95) | | — | | | (8,265) | | — | | (1,925) | | (174) | | — | | — | | (95) | | — | Net exposure | | 19,453 | | 102 | | (1,840) | | 958 | | — | | — | | (95) | | 1,777 |
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| Schedule of sensitivity analysis |
| | | | | | | Strengthening of | | Weakening of US$ | December 31, 2025 | | US$ by 10% | | by 10% | Euro | | (2,097) | | 2,097 | Russian Ruble | | (10) | | 10 | Armenian Dram | | 74 | | (74) | Kazakhstani Tenge | | (99) | | 99 | United Arab Emirates dirham | | — | | — | British pound sterling | | 4 | | (4) | Japanese yen | | 3 | | (3) | | | (2,125) | | 2,125 |
| | | | | | | Strengthening of | | Weakening of US$ | June 30, 2026 | | US$ by 10% | | by 10% | Euro | | (1,945) | | 1,945 | Russian Ruble | | (10) | | 10 | Armenian Dram | | 184 | | (184) | Kazakhstani Tenge | | (96) | | 96 | United Arab Emirates dirham | | — | | — | Hong Kong dollar | | (178) | | 178 | Japanese yen | | 10 | | (10) | | | (2,035) | | 2,035 |
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| Schedule of reconciliation from the opening balances to the closing balances for financial liabilities based on Level 3 fair values |
| | | | | | | Share warrant | | Put option | | | obligation | | liability | Balance at January 1, 2025 | | 365 | | 15,002 | Net change in fair value | | (100) | | — | Balance at June 30, 2025 | | 265 | | 15,002 |
| | | | | | | Share warrant | | Put option | | | obligation | | liability | Balance at January 1, 2026 | | 362 | | 15,002 | Net change in fair value | | (212) | | — | Balance at June 30, 2026 | | 150 | | 15,002 |
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