Consolidated Statements of Cash Flows (Unaudited)
(In thousands of USD)
|
Six Months Ended
June 30, |
Three Months Ended
June 30, |
Year ended
December 31 | ||||||||
| 2022 | 2023 | 2022 | 2023 | 2022 | ||||||
| Cash flow from operating activities: | ||||||||||
| Net income (loss) | (73,262 | ) | 12,553 | (39,974 | ) | (9,406 | ) | (228,295 | ) | |
| Adjustments: | ||||||||||
| Depreciation and amortization | 2,856 | 2,963 | 1,715 | 1,540 | 7,283 | |||||
| Impairment losses | — | — | — | — | 40,523 | |||||
| Financing (income) expenses, net | 12,555 | (17,622 | ) | 10,361 | (9,470 | ) | (1,769 | ) | ||
| Revaluation of financial liabilities accounted at fair value | (2,917 | ) | 485 | (1,547 | ) | 294 | (4,516 | ) | ||
| Revaluation of financial assets accounted at fair value | (613 | ) | (57,201 | ) | (613 | ) | (11,925 | ) | 62,791 | |
| Loss (gain) from disposal of property plant and equipment and right-of-use assets | (6 | ) | 345 | (3 | ) | 221 | 948 | |||
| Increase in deferred tax | (1,332 | ) | (95 | ) | (871 | ) | (92 | ) | (581 | ) |
| Share-based compensation | 19,337 | 11,542 | 9,214 | 5,418 | 32,563 | |||||
| Other | 113 | 68 | 19 | 23 | 166 | |||||
| 29,993 | (59,515 | ) | 18,275 | (13,991 | ) | 137,408 | ||||
| Changes in assets and liabilities: | — | |||||||||
| (Increase) decrease in inventory | (1,878 | ) | (1,212 | ) | (1,410 | ) | (667 | ) | (4,603 | ) |
| (Increase) decrease in other receivables | (297 | ) | 669 | 554 | 1,520 | (1,978 | ) | |||
| (Increase) decrease in trade receivables | (1,959 | ) | (6,039 | ) | 216 | (2,331 | ) | (1,992 | ) | |
| Increase (decrease) in other payables | 1,397 | (1,345 | ) | (327 | ) | (817 | ) | 5,281 | ||
| Increase (decrease) in employee benefits | 1,736 | (399 | ) | 588 | 162 | 1,497 | ||||
| Increase (decrease) in trade payables | 839 | (828 | ) | 110 | (2,633 | ) | 628 | |||
| (162 | ) | (9,154 | ) | (269 | ) | (4,766 | ) | (1,167 | ) | |
| Net cash used in operating activities | (43,431 | ) | (56,116 | ) | (21,968 | ) | (28,163 | ) | (92,054 | ) |
| Cash flow from investing activities: | ||||||||||
| Change in bank deposits | (46,491 | ) | (151,391 | ) | (24,584 | ) | 77,106 | 141,555 | ||
| Interest received | 2,491 | 17,998 | 1,729 | 6,706 | 17,465 | |||||
| Change in restricted bank deposits | (75 | ) | (34 | ) | (95 | ) | 237 | (327 | ) | |
| Acquisition of property plant and equipment | (4,539 | ) | (7,121 | ) | (2,564 | ) | (3,177 | ) | (9,388 | ) |
| Acquisition of subsidiaries, net of cash acquired | (18,159 | ) | — | (35 | ) | — | (31,057 | ) | ||
| Payment of a liability to pay a contingent consideration of business combination | (9,999 | ) | (9,255 | ) | (9,999 | ) | (5,295 | ) | (10,708 | ) |
| Acquisition of financial assets in fair value through profit and loss | (17,803 | ) | — | (17,803 | ) | — | (177,775 | ) | ||
| Decrease in deposit in escrow | — | — | — | — | 3,362 | |||||
| Other | — | — | — | — | (800 | ) | ||||
| Net cash from (used in) investing activities | (94,575 | ) | (149,803 | ) | (53,351 | ) | 75,577 | (67,673 | ) | |
| Cash flow from financing activities: | ||||||||||
| Lease payments | (1,881 | ) | (2,471 | ) | (1,085 | ) | (1,251 | ) | (4,151 | ) |
| Repayment long-term bank debt | (218 | ) | (96 | ) | (138 | ) | (39 | ) | (406 | ) |
| Proceeds from non-controlling interests | — | 550 | — | 550 | 510 | |||||
| Amounts recognized in respect of government grants liability, net | (93 | ) | (172 | ) | (48 | ) | (87 | ) | (221 | ) |
| Payments of share price protection recognized in business combination | (744 | ) | (1,780 | ) | (744 | ) | (1,780 | ) | (1,005 | ) |
| Repurchase of treasury shares | — | (19,741 | ) | — | (1,349 | ) | — | |||
| Net cash used in financing activities | (2,936 | ) | (23,710 | ) | (2,015 | ) | (3,956 | ) | (5,273 | ) |
| Increase (decrease) in cash | (140,942 | ) | (229,629 | ) | (77,334 | ) | 43,458 | (165,000 | ) | |
| Cash at beginning of the period | 853,626 | 685,362 | 788,141 | 412,172 | 853,626 | |||||
| Effect of exchange rate fluctuations on cash | (6,464 | ) | (1,178 | ) | (4,587 | ) | (1,075 | ) | (3,264 | ) |
| Cash at end of the period | 706,220 | 454,555 | 706,220 | 454,555 | 685,362 | |||||
| Non-cash transactions: | ||||||||||
| Property plant and equipment acquired on credit | 35 | 328 | (176 | ) | (148 | ) | 52 | |||
| Repurchase of treasury shares on credit | — | 3,518 | — | 3,518 | — | |||||
| Recognition of a right-of-use asset | 11,250 | 199 | 13 | 72 | 15,196 | |||||
| Acquisition of financial assets in fair value through profit and loss | 2,158 | — | 2,158 | — | — | |||||
Non-IFRS Measures
