v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flow from operating activities      
(Loss) income before tax $ (32,408) $ 34,150 $ 20,141
Income tax paid (10,287) (1,901) (3,826)
Payment of contingent consideration in relation to business combinations 0 0 (4,621)
Payment of deferred consideration in relation to business combinations (18,590) (7,156) (2,897)
Adjustments for non-cash items:      
Depreciation and amortization 14,419 5,802 2,088
Net finance expense (108) 1,525 1,637
Movements in credit loss allowance and write-offs 329 480 914
Fair value movement on contingent consideration 47,678 0 6,939
Impairment loss on intangible assets 14,006 0 0
Share-based payment expense 6,937 4,953 3,607
Cash flows from operating activities before changes in working capital 21,976 37,853 23,982
Changes in working capital      
Trade and other receivables (2,180) (98) (10,387)
Trade and other payables (692) (117) 4,240
Inventories 0 0 75
Cash flows generated by operating activities 19,104 37,638 17,910
Cash flows from investing activities      
Acquisition of property and equipment (863) (1,326) (451)
Acquisition of intangible assets 0 (21,074) (6,815)
Capitalization of internally developed intangibles (3,893) (1,886) (1,977)
Acquisition of subsidiaries, net of cash acquired (68,495) 0 0
Interest received from bank deposits 99 137 259
Payment of deferred consideration in relation to asset acquisitions and business combinations (25,783) (19,693) (4,933)
Payment of contingent consideration in relation to business combinations 0 0 (5,557)
Cash flows used in investing activities (98,935) (43,842) (19,474)
Cash flows from financing activities      
Exercise of options 669 1,521 106
Issue of ordinary shares in relation to employee stock purchase plan 374 218 0
Treasury shares acquired (5,578) (27,078) (2,572)
Proceeds from borrowings 132,500 45,560 0
Transaction costs related to borrowings (6,027) (847) 0
Repayment of borrowings (31,819) (21,060) 0
Repayment of debt assumed in a business combination (393) 0 0
Repayment of other non-current liability assumed in a business combination (206) 0 0
Principal proceeds from the settlements of the derivative financial instrument used to hedge liabilities arising from financing activities 8,438 0 0
Interest proceeds from the settlements of the derivative financial instrument used to hedge liabilities arising from financing activities 3,754 0 0
Principal payment of settlements of the derivative financial instrument used to hedge liabilities arising from financing activities (8,710) 0 0
Interest payment of settlements of the derivative financial instrument used to hedge liabilities arising from financing activities (2,590) 0 0
Interest payment attributable to third party borrowings (6,885) (888) 0
Interest payment attributable to deferred consideration settled in relation to business combinations 0 (1,272) (110)
Interest payment attributable to deferred consideration settled for intangible assets (675) (461) 0
Principal paid on lease liability (1,060) (688) (402)
Interest paid on lease liability (324) (249) (165)
Cash flows generated from (used in) financing activities 81,468 (5,244) (3,143)
Net movement in cash and cash equivalents 1,637 (11,448) (4,707)
Cash and cash equivalents at the beginning of the year 13,729 25,429 29,664
Net foreign exchange differences on cash and cash equivalents 448 (252) 472
Cash and cash equivalents at the end of the year 15,814 13,729 25,429
Supplemental non-cash items      
Right-of-use assets 602 4,135 75
Issue of ordinary shares for acquisitions 9,971 0 9,912
Issue of ordinary shares in relation to employee stock purchase plan $ 67 $ 39 $ 0