v3.26.3
Condensed Consolidated Statements of Cash Flows Unaudited - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Cash Flows from operating activities:      
Net income / (loss) $ (27,789) $ (20,030)  
Adjustments to reconcile net income to net cash provided by / (used in) operating activities:      
Depreciation of property, plant & equipment 436 315 $ 315
Amortization of finance lease right-of-use assets 37  
Non-cash operating lease expense 21  
Amortization of intangible assets 2,296
Impairment loss on crypto assets 323  
Interest and amortization of debt discount 1 88  
Loss on remeasurement of equity interest 320  
Derecognition of WECAN tokens upon consolidation of Wecan 239  
Stock-based compensation 3,970 9,935  
Inventory valuation allowance 369 (14)  
Loss from equity-method investments 397  
Change in income tax receivable – withholding tax (2,184) (562)  
Income tax recovery (302)  
Other non-cash expenses / (income)      
Unrealized and non-cash foreign currency transactions 1,395 (335)  
Changes in operating assets and liabilities, net of effects of businesses acquired / divested      
Decrease (increase) in accounts receivables, net of balance owed to related parties and shareholders and their affiliates (671) 1,068  
Decrease (increase) in accounts receivable from shareholders and affiliates, excluding debt and interest on debt (5,956) (3,218)  
Decrease (increase) in accounts receivable from to related parties, excluding debt and interest on debt (2,053) (688)  
Decrease (increase) in inventories (339) (772)  
Decrease (increase) in government assistance (2,034) 98  
Decrease (increase) in other current assets and prepaids, net (32) 44  
Decrease (increase) in other noncurrent assets 8 (8)  
Increase (decrease) in accounts payable 7,068 1,950  
Increase (decrease) in accounts payable owed to shareholders and affiliates, excluding debt and interest on debt (331) (750)  
Increase (decrease) in accounts payable owed to related parties, excluding debt and interest on debt 124 150  
Increase (decrease) in deferred revenue, current 679 10  
Increase (decrease) in income tax payable (3) (1)  
Increase (decrease) in other current liabilities, excluding stock-based compensation liability (376) (144)  
Increase (decrease) in deferred revenue, noncurrent 1,064  
Increase (decrease) in defined benefit pension liability 41 1,343  
Increase (decrease) in interest on debt owed to related parties 5 (379)  
Increase (decrease) in other noncurrent liabilities (433)  
Net cash used in operating activities (23,731) (11,879)  
Cash Flows from investing activities:      
Acquisition of property, plant and equipment (1,518)  
Acquisition of cryptocurrencies (161)  
Acquisition of investment in SAFE (6,000) (300)  
Acquisition of investment in Quobly SAS (17,454)  
Acquisition of investment in Miraex (640)  
Acquisition of available-for-sale debt securities (104)  
Sale / (acquisition) of investment, current 7,583  
Acquisition of a business, net of cash and cash equivalents acquired (4,314)  
Acquisition of unconsolidated affiliates and unconsolidated related party affiliates (1,538)  
Net cash used in investing activities (22,343) (2,103)  
Cash Flows from financing activities:      
Proceeds from options and warrants exercises 16 7,398  
Proceeds from issuance of Common Stock 124,999 48,263  
Common Stock issuance costs (8,950) (2,715)  
Issuance of convertible loan (650)    
Repayment of indebtedness to related parties (2,750)  
Repayment of debt (532)    
Payments of debt issue costs  
Acquisition of common stock for tax withholding obligations (242)  
Net cash provided by financing activities 114,641 50,196  
Effect of exchange rate changes on cash and cash equivalents (116) 101  
Net increase (decrease) during the period 68,451 36,315  
Balance, beginning of period 417,657 84,624 84,624
Cash and cash equivalents balance, end of period 486,108 120,939 417,657
Reconciliation to balance sheet      
Cash and cash equivalents 479,797 120,939 417,657
Restricted cash, current 6,311  
Balance, end of period 486,108 120,939 $ 417,657
Supplemental cash flow information for financing and investing activities      
Cash paid for income taxes  
Cash paid for interest, net of amounts capitalized 4  
ROU assets obtained from operating lease 70  
ROU assets obtained from finance lease 34  
Shares withheld to satisfy tax obligations 242 3,035  
Issuance of shares in relation to investments in unconsolidated affiliates $ 1,948