Exhibit 99.1

 

CONDENSED UNAUDITED CONSOLIDATED STATEMENT OF PROFIT OR LOSS

	Three Months Ended September 30,						Nine Months Ended September 30,
Thousands of $ (except per share data)	2024			2023			2024			2023
Revenues		23,317			19,350			65,310			50,795
Cost of sales (exclusive of amortization of intangible assets)		(9,042	)		(6,797	)		(25,686	)		(19,537	)
Gross Profit		14,275			12,553			39,624			31,258
Research and development expenses		(2,697	)		(1,557	)		(7,764	)		(4,547	)
Selling and marketing expenses		(10,619	)		(9,060	)		(31,280	)		(27,431	)
General and administrative expenses		(5,735	)		(5,381	)		(16,936	)		(16,280	)
Amortization of intangible assets		(1,327	)		(1,128	)		(3,575	)		(3,367	)
Other operating income (expense), net		11			12			(183	)		(654	)
Operating loss		(6,092	)		(4,561	)		(20,114	)		(21,021	)
Financial income		197			564			1,772			1,570
Financial expense		(4,960	)		(6,048	)		(12,552	)		(12,929	)
Loss before income tax		(10,855	)		(10,045	)		(30,894	)		(32,380	)
Income tax		(334	)		-			(334	)		-
Loss for the period		(11,189	)		(10,045	)		(31,228	)		(32,380	)
Loss per share attributable to parent
Basic and diluted		(0.40	)		(0.37	)		(1.14	)		(1.27	)

CONDENSED UNAUDITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Thousands of $	as of September 30, 2024			as of December 31, 2023
ASSETS
Goodwill		35,926			35,926
Intangible assets		41,924			44,337
Property, plant and equipment		4,672			4,956
Right-of-use assets		3,870			4,989
Financial assets		822			763
Non-current assets		87,214			90,971
Inventories		4,384			2,779
Trade receivables		14,993			11,088
Prepaid expenses and other current assets		1,545			1,914
Cash and cash equivalents		49,272			22,380
Current assets		70,194			38,161
Total assets		157,408			129,132
EQUITY
Share capital		213,931			173,931
Issuance premium		149,859			153,177
Accumulated deficit		(362,674	)		(331,446	)
Share-based compensation		16,458			12,139
Translation reserve		(580	)		(593	)
Total equity		16,994			7,208
LIABILITIES
Loans and borrowings		50,873			35,564
Lease liabilities		2,537			3,578
Other non-current financial liabilities		41,463			63,259
Non-current liabilities		94,873			102,401
Loans and borrowings		485			643
Lease liabilities		1,440			1,480
Trade payables		10,385			8,811
Other current liabilities		7,331			5,694
Other current financial liabilities		25,900			2,895
Current liabilities		45,541			19,523
Total liabilities		140,414			121,924
Total equity and liabilities		157,408			129,132

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CONDENSED UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS

	Nine Months Ended September 30,
Thousands of $	2024			2023
CASH FLOWS FROM OPERATING ACTIVITIES
Operating loss		(20,114	)		(21,021	)
Depreciation		2,271			1,910
Amortization of intangible assets		3,575			3,367
Share-based compensation		1,059			457
Other non-cash transactions		(85	)		276
Cash used in operations before working capital changes		(13,294	)		(15,011	)
Changes in operating assets and liabilities
Increase (-) in inventories		(1,605	)		(541	)
Increase (-) / decrease (+) in receivables		(3,536	)		1,278
Increase (+) in payables		3,023			151
Net cash outflow from operating activities		(15,412	)		(14,123	)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment		(996	)		(2,399	)
Acquisition and generation of intangible assets		(971	)		(1,612	)
Interest received		560			756
Net cash outflow from investing activities		(1,407	)		(3,255	)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of shares, net of transaction costs		37,206			39,599
Proceeds from loan obligation		53,051			-
Repayment of loan obligation, loan modification, and debt extinguishment costs		(39,929	)		(1,239	)
Payment of lease liability		(1,409	)		(1,121	)
Payment of interest		(4,899	)		(2,666	)
Other financial expense		(306	)		-
Net cash inflow from financing activities		43,714			34,573
Net increase in cash and cash equivalents		26,895			17,195
Cash and cash equivalents at beginning of the period		22,380			15,503
Effect of exchange rates		(3	)		16
Cash and cash equivalents at end of the period		49,272			32,714

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