XML 91 R21.htm IDEA: XBRL DOCUMENT v3.24.1
Financial instruments per category
 12 Months Ended
Dec. 31, 2023
Disclosure of detailed information about financial instruments [abstract]  
Financial instruments per category Financial instruments per category
The following tables present the Group’s financial instruments per category

Amounts in thousands USDAs of December 31, 2023As of December 31, 2022
Current asset instruments at amortized cost
Trade receivables$62,795$52,743
Total current asset instruments at amortized cost62,79552,743
Non-current asset instruments at amortized cost
Other non-current receivables1,794571
Total non-current asset instruments at amortized cost1,794571
Total financial assets$64,589$53,314
Financial liabilities: Interest-bearing loans and borrowings
Amounts in thousands USDInterest RateMaturityAs of December 31, 2023
Current interest-bearing loans and borrowings
Lease Liabilities (Note 14)
2.5%-11%
2024$4,024 
Non-current interest-bearing loans and borrowings
Lease Liabilities (Note 14)
2.5%-11%
2024-2033$22,765 
Total interest-bearing loans and borrowings$26,789 

Amounts in thousands USDInterest RateMaturityAs of December 31, 2022
Current interest-bearing loans and borrowings
Lease Liabilities (Note 14)
2.50%-11%
2023$2,113 
Non-current interest-bearing loans and borrowings
Lease Liabilities (Note 14)
2.50%-11%
2023-2032$7,322 
Total interest-bearing loans and borrowings$9,435 


Other interest-bearing loan facility

During the year ended December 31, 2019 the Group entered into a loan facility in the amount of $110 million with Bridgepoint Credit and DNB AB (Publ) as part of the financing of the Olink Acquisition (Facilities). During the year ended December 31, 2020 we amended our debt structure under the existing loan facility with Bridgepoint Credit and DNB AB (Publ), increasing the total commitment under the facilities to $137.6 million. The effective date of the amended agreement was December 23, 2020.

A total of $63.5 million had been drawn down under the term Facility B, adjusted for transaction costs of $1.8 million. The loans were raised in USD and EUR to match revenue streams in USD and EUR. The remaining undrawn credit under the facilities was $74.1 million. Under the terms of the Facilities, the Group pledged the assets, including patents and other intellectual property, of its subsidiary, Olink Proteomics Inc.

On March 30, 2021, we repaid $65.6 million of outstanding loan facilities plus accrued interest of $1.9 million using the net proceeds from the offering and had no outstanding loan balances. As of December 31, 2023, we had $121.0 million in cash at bank, restricted cash of $1.4 million (see note 16) and no outstanding loan balances.
Other financial liabilities
Amounts in thousands USDAs of December 31, 2023As of December 31, 2022
Other financial liabilities at amortized cost
Accounts payable$18,758 $6,885 
Salaries and wages9,530 10,185 
Royalties5,043 2,321 
Accrued expenses8,021 6,925 
Total current financial liabilities$41,352 $26,316 
Changes in Liabilities attributable to financing activities
The following tables show changes in liabilities attributable to financing activities for the Group respectively:

Amounts in thousands USDCurrent Interest bearing liabilities (excluding current lease liabilities)Current lease liabilitiesNon-current Interest bearing liabilities (excluding Non-current lease liabilities)Non- current lease liabilitiesTotal liabilities from financing activities
Liabilities as of January 1, 2021$— $2,146 $61,675 $2,290 $66,111 
Cash flows— (2,845)(63,315)— (66,160)
Non cash-flow:
New leases— 1,379 — 5,320 6,699 
Foreign exchange adjustments— (133)(58)222 31 
Other— 2,405 1,698 (2,405)1,698 
Liabilities as of December 31, 2021$— $2,952 $— $5,427 $8,379 
Cash flows— (2,908)— — (2,908)
Non cash-flow:
New leases— 438 — 2,386 2,824 
Foreign exchange adjustments— (78)— (272)(350)
Other— 1,709 — (219)1,490 
Liabilities as of December 31, 2022$— $2,113 $— $7,322 $9,435 
Cash flows— (2,683)— — (2,683)
Non cash-flow:
New leases— 2,541 — 17,027 19,568 
Foreign exchange adjustments— 70 — 399 469 
Other— 1,983 — (1,983)— 
Liabilities as of December 31, 2023$— $4,024 $— $22,765 $26,789