Current financial assets and Cash and cash equivalents

6 Months Ended

Jun. 30, 2026

Current financial assets and Cash and cash equivalents

Note 11. Current financial assets and Cash and cash equivalents


As of December 31, 2025	Carrying amount		Unrealized Gains/(Losses)		Estimated fair value
			$ in thousands

Restricted cash		2,048		-		2,048
Derivatives		234		-		234
Other current financial assets (deposits)		144,848		-		144,848
Current financial assets		147,130		-		147,130
Cash and cash equivalents		61,533		-		61,533
Current financial assets and cash and cash equivalents		208,663		-		208,663

As of June 30, 2026	Carrying amount		Unrealized Gains/(Losses)		Estimated fair value
			$ in thousands

Restricted cash		160		-		160
Derivatives		1		-		1
Other current financial assets (deposits)		131,095		-		131,095
Current financial assets		131,257		-		131,257
Cash and cash equivalents		35,590		-		35,590
Current financial assets and cash and cash equivalents		166,847		-		166,847

11.1 Current financial assets

As of June 30, 2026, current financial assets are mainly composed of $131.1 million deposit with a term of more than three months that does not meet IAS 7 requirements to qualify as cash equivalents.

As of December 31, 2025, current financial assets were composed of (i) a $144.8 million deposit with a term of more than three months that does not meet IAS 7 requirements to qualify as cash equivalents and (ii) $2.0 million of short-term restricted cash mainly related to our lease agreement for equipment in our Raleigh manufacturing site.

11.2 Cash and cash equivalents


	As of December 31,		As of June 30,
	2025		2026
	$ in thousands
Cash and bank accounts		45,915		32,946
Fixed bank deposits		15,618		2,644
Total cash and cash equivalents		61,533		35,590

Fixed bank deposits have fixed terms that are less than three months or are readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value.