Non-cash stock-based compensation (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Stock options [member] |
|
| Disclosure of terms and conditions of share-based payment arrangement [line items] |
|
| Summary of assumptions Vesting Details |
The weighted-average fair values of stock options granted and the assumptions used for the Black-Scholes option pricing model were as follows for the six-month periods ended June 30, 2025 and June 30, 2026:
|
|
|
|
For the six-month period ended June 30, |
|
2025 |
2026 |
|
|
|
|
|
Weighted-Average fair values of stock options granted |
0.87€ |
2.02€ |
Assumptions: |
|
|
Risk-free interest rate |
2.78% - 2.95% |
2.92% - 3.24% |
Share entitlement per options |
1 |
1 |
Exercise price |
1.26€ - 1.56€ |
3.12€ - 3.49€ |
Underlying stock price at grant date |
1.26€-1.52€ |
2.97€-3.38€ |
Expected volatility |
65.0%- 65.9% |
71.3%- 71.9% |
Expected term (in years) |
5.93 - 6.12 |
5.93 - 6.17 |
Vesting conditions |
Performance & Service |
Performance & Service |
Vesting period |
Graded |
Graded |
|
| Summary of Information on Stock Option Activity |
Stock option activity was as follows:
|
|
|
|
|
|
|
|
|
|
|
Options Outstanding |
|
Weighted-Average Exercise Price Per Share (in €) |
|
Remaining Average contractual Life (in years) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of January 1, 2025 |
|
12,519,294 |
|
|
16.16 |
|
|
4.6 |
|
Granted |
|
6,193,533 |
|
|
1.44 |
|
|
- |
|
Exercised |
|
- |
|
|
- |
|
|
- |
|
Forfeited or Expired |
|
(1,409,323 |
) |
|
36.87 |
|
|
- |
|
|
|
|
|
|
|
|
Balance as of June 30, 2025 |
|
17,303,505 |
|
|
9.20 |
|
|
6.4 |
|
|
|
|
|
|
|
|
Balance as of January 1, 2026 |
|
16,040,242 |
|
|
7.71 |
|
|
6.4 |
|
Granted |
|
5,428,363 |
|
|
3.34 |
|
|
- |
|
Exercised |
|
(111,821 |
) |
|
1.56 |
|
|
- |
|
Forfeited or Expired |
|
(1,823,547 |
) |
|
17.06 |
|
|
- |
|
|
|
|
|
|
|
|
Balance as of June 30, 2026 |
|
19,533,237 |
|
|
5.66 |
|
|
7.3 |
|
|
| Warrants [member] |
|
| Disclosure of terms and conditions of share-based payment arrangement [line items] |
|
| Summary of Information on Stock Option Activity |
Warrants activity was as follows:
|
|
|
|
|
|
|
|
|
|
|
Warrants Outstanding |
|
Weighted-Average Exercise Price Per Share (in €) |
|
Remaining Average Useful Life (in years) |
|
|
|
|
|
|
|
|
Balance as of January 1, 2025 |
|
338,875 |
|
|
26.69 |
|
|
1.4 |
|
Granted |
|
- |
|
|
- |
|
|
- |
|
Exercised |
|
- |
|
|
- |
|
|
- |
|
Forfeited or Expired |
|
(50,000 |
) |
|
- 38.45 |
|
|
- |
|
|
|
|
|
|
|
|
Balance as of June 30, 2025 |
|
288,875 |
|
|
24.70 |
|
|
1.0 |
|
|
|
|
|
|
|
|
Balance as of January 1, 2026 |
|
169,500 |
|
|
14.25 |
|
|
4.8 |
|
Granted |
|
- |
|
|
- |
|
|
- |
|
Exercised |
|
- |
|
|
- |
|
|
- |
|
Forfeited or Expired |
|
(26,500 |
) |
|
27.37 |
|
|
- |
|
|
|
|
|
|
|
|
Balance as of June 30, 2026 |
|
143,000 |
|
|
11.82 |
|
|
5.2 |
|
|
| Free Shares [member] |
|
| Disclosure of terms and conditions of share-based payment arrangement [line items] |
|
| Number and Weighted Average Fair Value at Measurement Date, Other Equity Instruments Granted |
Free shares activity was as follows:
|
|
|
|
|
|
|
|
Number of Free shares Outstanding |
|
Weighted-Average Grant Date Fair Value (in €) |
|
|
|
|
|
|
Unvested balance as of January 1, 2025 |
|
509,295 |
|
|
2.84 |
|
Granted |
|
- |
|
|
- |
|
Vested |
|
(231,356 |
) |
|
2.63 |
|
Cancelled |
|
(13,894 |
) |
|
2.91 |
|
|
|
|
|
|
Unvested balance as of June 30, 2025 |
|
264,045 |
|
|
3.01 |
|
|
|
|
|
|
Unvested balance as of January 1, 2026 |
|
251,946 |
|
|
3.02 |
|
Granted |
|
- |
|
|
- |
|
Vested |
|
(246,749 |
) |
|
3.02 |
|
Cancelled |
|
(5,197 |
) |
|
3.02 |
|
|
|
|
|
|
Unvested balance as of June 30, 2026 |
|
- |
|
|
- |
|
|