| Summary of Financial Assets and Liabilities |
The following tables show the carrying amounts and fair values of financial assets and financial liabilities as of June 30, 2026 and December 31, 2025:
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Accounting category |
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Book value on the statement of financial position |
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Fair Value |
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Fair Value Hierarchy |
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As of June 30, 2026 |
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Fair value through profit and loss |
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Amortized cost |
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Level 1 |
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Level 2 |
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Level 3 |
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$ in thousands |
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Financial assets |
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Non-current financial assets |
(i) |
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4,723 |
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4,723 |
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4,723 |
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- |
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- |
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- |
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Trade receivables |
(i) |
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- |
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5,075 |
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5,075 |
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5,075 |
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- |
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- |
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- |
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Subsidies receivables |
(i) |
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- |
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7,525 |
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7,525 |
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7,525 |
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- |
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- |
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- |
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Current financial assets |
(i) |
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1 |
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131,256 |
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131,257 |
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131,257 |
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- |
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- |
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1 |
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Cash and cash equivalents |
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35,590 |
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- |
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35,590 |
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35,590 |
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35,590 |
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- |
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- |
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Total financial assets |
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35,591 |
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148,579 |
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184,170 |
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184,170 |
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35,590 |
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- |
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1 |
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Financial liabilities |
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Non-current derivative instruments (EIB warrants) |
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12,863 |
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- |
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12,863 |
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12,863 |
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- |
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- |
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12,863 |
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Other non-current financial liabilities |
(i) |
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- |
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53,323 |
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53,323 |
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53,323 |
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- |
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- |
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- |
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Current financial liabilities |
(i) |
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- |
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7,500 |
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7,500 |
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7,500 |
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- |
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- |
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- |
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Trade payables |
(i) |
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- |
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18,202 |
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18,202 |
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18,202 |
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- |
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- |
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- |
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Other current liabilities |
(i) |
|
400 |
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10,247 |
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10,647 |
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10,647 |
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- |
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- |
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400 |
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Total financial liabilities |
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13,263 |
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89,271 |
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102,534 |
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102,534 |
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- |
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- |
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13,263 |
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Accounting category |
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Book value on the statement of financial position |
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Fair Value |
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|
Fair Value Hierarchy |
|
As of December 31, 2025 |
|
Fair value through profit and loss |
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|
Amortized cost |
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Level 1 |
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Level 2 |
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Level 3 |
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$ in thousands |
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Financial assets |
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Non-current financial assets |
(i) |
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- |
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5,088 |
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5,088 |
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5,088 |
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- |
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- |
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- |
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Trade receivables |
(i) |
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- |
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14,398 |
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14,398 |
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14,398 |
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- |
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- |
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- |
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Subsidies receivables |
(i) |
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- |
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7,800 |
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7,800 |
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7,800 |
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- |
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- |
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- |
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Current financial assets |
(i) |
|
234 |
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146,897 |
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147,130 |
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147,130 |
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- |
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- |
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234 |
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Cash and cash equivalents |
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61,533 |
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- |
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61,533 |
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61,533 |
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61,533 |
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- |
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- |
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Total financial assets |
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61,767 |
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174,183 |
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235,949 |
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235,949 |
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61,533 |
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- |
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234 |
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Financial liabilities |
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Non-current derivative instruments (EIB warrants) |
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22,059 |
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- |
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22,059 |
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22,059 |
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- |
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- |
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22,059 |
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Other non-current financial liabilities |
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- |
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51,953 |
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51,953 |
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52,521 |
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- |
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- |
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- |
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Current financial liabilities |
(i) |
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- |
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10,460 |
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10,460 |
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10,460 |
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- |
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- |
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- |
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Trade payables |
(i) |
|
- |
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17,277 |
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17,277 |
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17,277 |
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- |
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- |
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- |
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Other current liabilities |
(i) |
|
168 |
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12,174 |
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12,342 |
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12,342 |
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- |
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- |
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168 |
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Total financial liabilities |
|
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22,227 |
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91,865 |
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114,092 |
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114,660 |
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- |
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- |
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22,227 |
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(i) As of June 30, 2026 and December 31, 2025, the carrying amount of these assets and liabilities on the statement of consolidated financial position was a reasonable approximation of their fair value.
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