Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The changes for the three months ended March 31, 2025 in the number of Company Options outstanding related to Ordinary Shares and their related weighted average exercise prices are as follows:

	Number of options			Weighted average exercise price		Weighted average remaining contractual term (in years)		Aggregate intrinsic value (in thousands of USD)
Outstanding as at December 31, 2024		19,029,056		$	10.04
Granted		3,731,537		$	25.71
Exercised		(909,140	)	$	3.29
Outstanding as at March 31, 2025		21,851,453		$	13.00		8.3		183,778
Options exercisable as of March 31, 2025		8,863,297		$	8.49		7.6		106,343

Schedule of Weighted Average Assumptions for Stock Options

Weighted average assumptions used to apply this pricing model were as follows:

	Three months ended March 31,
	2025			2024
Expected life (years)		6.1			6.1
Risk-free rate		4.4	%		3.9	%
Volatility		47.3	%		41.2	%
Dividend yield		0.0	%		0.0	%

Schedule of Restricted Stock Unit Activity

The changes for the three months ended March 31, 2025 in the number of RSUs outstanding are as follows:

	Number of RSUs			Weighted average Fair Value Per Share
Outstanding as at December 31, 2024		143,002		$	9.84
Granted		663,584		$	25.87
Vested		(142,795	)	$	9.84
Forfeited/Cancelled		(1	)	$	9.84
Outstanding as at March 31, 2025		663,790		$	25.87

Summary of Share-Based Payment Expense

The following summarizes the share-based payment expense recognized by type of award and line-item:

	Three months ended March 31,
(in thousands of USD)	2025		2024
Share-based compensation expense by type of award
Share options		12,572		7,918
Restricted stock units		2,641		—
Total share-based compensation expense		15,213		7,918
Share-based compensation expense by line-item
Research and development expenses		5,223		3,479
Selling, general and administrative expenses		9,990		4,439
Total share-based compensation expense		15,213		7,918