Consolidated Statements of Cash Flows (Unaudited)
(In thousands of USD)
|
For the
Nine-Month Period Ended September 30 th , | For the
Three-Month Period Ended September 30th, | For the Year
ended December 31st, | ||||||||||||||||||
| 2021 | 2022 | 2021 | 2022 | 2021(*) | ||||||||||||||||
| Cash flow from operating activities: | ||||||||||||||||||||
| Net loss | (41,171 | ) | (140,395 | ) | (18,255 | ) | (67,133 | ) | (200,824 | ) | ||||||||||
| Adjustments: | ||||||||||||||||||||
| Depreciation and amortization | 4,978 | 6,084 | 2,392 | 3,228 | 7,383 | |||||||||||||||
| Impairment losses | - | - | - | - | 140,290 | |||||||||||||||
| Financing expenses (income), net | (1,799 | ) | 9,089 | (499 | ) | (3,466 | ) | (6,873 | ) | |||||||||||
| Revaluation of financial liabilities accounted at fair value | (10,356 | ) | (4,851 | ) | (5,255 | ) | (1,934 | ) | (10,608 | ) | ||||||||||
| Loss from disposal of property plant and equipment and right-of-use assets | 72 | 91 | 30 | 97 | 567 | |||||||||||||||
| Increase in deferred tax | (734 | ) | (1,441 | ) | (499 | ) | (109 | ) | (5,013 | ) | ||||||||||
| Revaluation of financial assets accounted at fair value | - | 38,068 | - | 38,681 | - | |||||||||||||||
| Share-based payments | 21,503 | 26,637 | 10,186 | 7,300 | 29,782 | |||||||||||||||
| Salary expenses paid by non-controlling interest (NCI) | - | 216 | - | 50 | - | |||||||||||||||
| 13,664 | 73,893 | 6,355 | 43,847 | 155,528 | ||||||||||||||||
| Changes in assets and liabilities: | ||||||||||||||||||||
| Decrease (increase) in inventory | (591 | ) | (3,384 | ) | 85 | (1,506 | ) | 2,382 | ||||||||||||
| Decrease (increase) in other receivables | (9 | ) | 3,574 | (130 | ) | 3,871 | (429 | ) | ||||||||||||
| Decrease (increase) in trade receivables | (510 | ) | (1,761 | ) | (371 | ) | 198 | (449 | ) | |||||||||||
| Increase (decrease) in other payables | (70 | ) | 1,333 | 836 | (64 | ) | 1,139 | |||||||||||||
| Increase (decrease) in employee benefits | - | 1,101 | - | (635 | ) | - | ||||||||||||||
| Increase (decrease) in trade payables | 629 | (42 | ) | 218 | (881 | ) | 74 | |||||||||||||
| (551 | ) | 821 | 638 | 983 | 2,717 | |||||||||||||||
| Net cash used in operating activities | (28,058 | ) | (65,681 | ) | (11,262 | ) | (22,303 | ) | (42,579 | ) | ||||||||||
| Cash flow from investing activities: | ||||||||||||||||||||
| Investment in bank deposits and loans, net | (171,929 | ) | (187,412 | ) | 104,490 | (140,921 | ) | (416,019 | ) | |||||||||||
| Interest received | 2,621 | 4,634 | 910 | 2,143 | 3,706 | |||||||||||||||
| Change in restricted bank deposits | (31 | ) | (16 | ) | (3 | ) | 59 | (32 | ) | |||||||||||
| Acquisition of property plant and equipment | (2,165 | ) | (6,059 | ) | (1,150 | ) | (1,520 | ) | (9,761 | ) | ||||||||||
| Payment of a liability to pay a contingent consideration of business combination | - | (10,708 | ) | - | (709 | ) | - | |||||||||||||
| Investment in shares measured in fair value through profit and loss | - | (177,775 | ) | - | (159,972 | ) | - | |||||||||||||
| Acquisition of subsidiary, net of cash acquired | (62,644 | ) | (31,058 | ) | - | (12,899 | ) | (74,574 | ( | |||||||||||
| Net cash used in investing activities | (234,148 | ) | (408,394 | ) | 104,247 | (313,819 | ) | (496,680 | ) | |||||||||||
| Cash flow from financing activities: | ||||||||||||||||||||
| Proceeds from issuance of Ordinary Shares, warrants and convertible notes, net | 805,497 | - | - | - | 805,497 | |||||||||||||||
| Exercise of warrants and options | 150 | - | - | - | 212 | |||||||||||||||
| Lease payments | (1,246 | ) | (3,088 | ) | (445 | ) | (1,207 | ) | (1,494 | ) | ||||||||||
| Proceeds from non-controlling interests | 590 | 510 | 590 | 510 | 944 | |||||||||||||||
| Repayment of long-term bank debt | - | (303 | ) | - | (85 | ) | (814 | ) | ||||||||||||
| Amounts recognized in respect of government grants liability, net | (7 | ) | (132 | ) | (35 | ) | (39 | ) | (96 | ) | ||||||||||
| Share-based payment acquired | - | (744 | ) | - | - | - | ||||||||||||||
| Interest and other fees paid | (5 | ) | (95 | ) | 22 | (42 | ) | (70 | ) | |||||||||||
| Net cash provided by financing activities | 804,979 | (3,852 | ) | 132 | (863 | ) | 804,179 | |||||||||||||
| Increase in cash | 542,773 | (477,927 | ) | 93,117 | (336,985 | ) | 264,920 | |||||||||||||
| Cash at beginning of the period | 585,338 | 853,626 | 1,034,838 | 706,220 | 585,338 | |||||||||||||||
| Effect of exchange rate fluctuations on cash | (333 | ) | (5,502 | ) | (177 | ) | 962 | 3,368 | ||||||||||||
| Cash at end of the period | 1,127,778 | 370,197 | 1,127,778 | 370,197 | 853,626 | |||||||||||||||
| Non-cash transactions: | ||||||||||||||||||||
| Property plant and equipment acquired on credit | 102 | 509 | 75 | 474 | 249 | |||||||||||||||
| Conversion of convertible notes and warrants to equity | 2,830 | - | - | - | 2,830 | |||||||||||||||
| Acquisition of a right-of-use asset | 1,890 | 11,536 | 90 | 286 | 1,919 | |||||||||||||||
| Acquisition of financial assets in fair value through profit and loss against credit received | - | - | - | (2,158 | ) | - | ||||||||||||||
| (*) The December 31 st , 2021, balances were derived from the Company’s audited annual financial statements. | ||||||||||||||||||||
