For the year ended December 31, 2025
(in thousands of U.S. dollars)

Europe & International

North America

Greater China

Corporate*

Eliminations**

Total

Revenue

Revenue from external customers

482,861

249,559

130,039

—

—

862,459

Intersegment revenue

1,622

—

—

—

(1,622

)

—

Total segment revenue

484,483

249,559

130,039

—

(1,622

)

862,459

Adjusted EBITDA

88,169

1,871

3,641

(86,860

)

—

6,821

Share-based compensation expense

(1,950

)

(1,333

)

(1,726

)

(8,252

)

—

(13,261

)

Restructuring costs(1)

(954

)

(1,896

)

(42

)

(2,043

)

—

(4,935

)

Strategic review of Greater China business(2)

—

—

(7,547

)

—

—

(7,547

)

Closure of production facility(3)

846

—

—

—

—

846

Non-controlling interests

—

—

(344

)

—

—

(344

)

EBITDA

86,111

(1,358

)

(6,018

)

(97,155

)

—

(18,420

)

Finance income

—

—

—

—

—

9,944

Finance expenses

—

—

—

—

—

(87,132

)

Depreciation and amortization

—

—

—

—

—

(49,310

)

Loss before tax

—

—

—

—

—

(144,918

)

For the year ended December 31, 2024
(in thousands of U.S. dollars)

Europe & International

North America

Greater China

Corporate*

Eliminations**

Total

Revenue

Revenue from external customers

434,263

274,455

114,948

—

—

823,666

Intersegment revenue

6,429

—

—

—

(6,429

)

—

Total segment revenue

440,692

274,455

114,948

—

(6,429

)

823,666

Adjusted EBITDA

56,128

5,298

(1,645

)

(95,106

)

—

(35,325

)

Share-based compensation expense

(1,985

)

656

(2,101

)

(10,168

)

—

(13,598

)

Restructuring costs(1)

(2,410

)

(1,222

)

(1,940

)

(2,600

)

—

(8,172

)

Asset impairment charges and other costs related to closure of production facility(3)

(42,110

)

—

—

—

—

(42,110

)

Asset impairment charges and other costs related to discontinued construction of production facilities(4)

(2,875

)

3,283

(25,068

)

—

—

(24,660

)

New product launch issue(5)

—

(11,998

)

—

—

—

(11,998

)

Non-controlling interests

—

—

(323

)

—

—

(323

)

EBITDA

6,748

(3,983

)

(31,077

)

(107,874

)

—

(136,186

)

Finance income

—

—

—

—

—

57,758

Finance expenses

—

—

—

—

—

(70,179

)

Depreciation and amortization

—

—

—

—

—

(49,966

)

Loss before tax

—

—

—

—

—

(198,573

)

For the year ended December 31, 2023
(in thousands of U.S. dollars)

Europe & International

North America

Greater China

Corporate*

Eliminations**

Total

Revenue

Revenue from external customers

408,410

250,264

124,674

—

—

783,348

Intersegment revenue

25,601

—

181

—

(25,782

)

—

Total segment revenue

434,011

250,264

124,855

—

(25,782

)

783,348

Adjusted EBITDA

28,377

(31,910

)

(57,543

)

(96,485

)

—

(157,561

)

Share-based compensation expense

(2,378

)

(3,820

)

(4,608

)

(10,640

)

—

(21,446

)

Restructuring costs(1)

(1,382

)

(3,062

)

(2,675

)

(7,641

)

—

(14,760

)

Asset impairment charges and other costs related to discontinued construction of production facilities(4)

(158,551

)

(43,009

)

—

—

—

(201,560

)

Costs related to the YYF Transaction(6)

—

(375

)

—

—

—

(375

)

Legal settlement(7)

—

—

—

(9,250

)

—

(9,250

)

Non-controlling interests

—

—

(186

)

—

—

(186

)

EBITDA

(133,934

)

(82,176

)

(65,012

)

(124,016

)

—

(405,138

)

Finance income

—

—

—

—

—

117,876

Finance expenses

—

—

—

—

—

(69,029

)

Depreciation and amortization

—

—

—

—

—

(51,874

)

Loss before tax

—

—

—

—

—

(408,165

)