Share-based compensation (Tables)

12 Months Ended

Dec. 31, 2025

Disclosure of terms and conditions of share-based payment arrangement [abstract]

Summary of RSUs Outstanding and Related Information

Activity in the Group’s RSUs outstanding and related information is as follows:


		Number of RSUs				Weighted average grant date fair value ($)
As of January 1, 2023			407,380				88.40
Granted during the period			273,972				35.00
Forfeited during the period			(123,544	)			64.40
Vested during the period			(137,017	)			63.00
As of December 31, 2023			420,791				58.20
Granted during the period			466,690				21.00
RSUs granted in exchange for stock options			212,862				19.40
Forfeited during the period			(105,150	)			39.80
Vested during the period			(175,023	)			25.40
As of December 31, 2024			820,170				26.00
Granted during the period			1,330,234				11.10
Forfeited during the period			(117,861	)			17.05
Vested during the period			(411,040	)			29.52
As of December 31, 2025			1,621,503				13.51

Summary of Number and Exercise Prices of Employee Stock Options

Activity in the Group’s stock options outstanding and related information is as follows:


		Number of employee stock options				Weighted average exercise price ($)
As of January 1, 2023			716,953				188.00
Granted during the period			555,586				35.00
Forfeited during the period(1)			(180,751	)			117.60
Expired during the period(2)			(27,328	)			237.60
As of December 31, 2023			1,064,460				119.60
Granted during the period			463,065				20.80
Stock options exchanged to RSUs			(609,489	)			102.00
Forfeited during the period(1)			(106,784	)			70.60
Expired during the period(2)			(230,938	)			225.40
As of December 31, 2024			580,314				26.40
Exercised during the period			(7,291	)			15.22
Forfeited during the period(1)			(65,124	)			22.41
Expired during the period(2)			(43,061	)			30.12
As of December 31, 2025			464,838				26.81
Vested and exercisable as of December 31, 2025			198,429				32.74

(1)

Includes 0 forfeited stock options related to the Company’s organizational restructuring during the year ended December 31, 2025 (2024: 79,472, 2023: 129,085).

(2)

Includes 15,797 expired stock options related to the Company’s organizational restructuring during the year ended December 31, 2025 (2024: 222,309, 2023: 0).

Summary of Inputs to Black-Scholes Option-pricing Model Used to Stock Options for Exchange to RSUs and Employee Stock Options

The following tables lists the inputs to the Black-Scholes option-pricing model used for employee stock options granted during the financial year 2025, 2024 and 2023, respectively. No stock options were granted during 2025.


		2024		2023
Expected term (years)		6-8		6-8
Weighted-average ADS price at grant date		20.80		35.00
Expected price volatility of the Company’s ADSs (%)		60.00		50.00-55.00
Risk-free interest rate (%)		4.19-4.57		3.84-4.61