Operating Expenses

6 Months Ended

Jun. 30, 2024

Operating Expenses [Abstract]

Operating expenses

Note 11: Operating Expenses

The Company had an average of 106 employees during the six months ended June 30, 2024, in comparison with an average of 88 employees during the six months ended June 30, 2023. The increase is mainly due to hiring to support development activities and quality activities.

The following table summarizes the allocation of personnel expenses by function during the three and six months ended June 30, 2024 and 2023:

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Research and Development expenses		5,177		4,014		10,225		8,020
Sales & Marketing expenses		233		208		567		373
General & Administrative expenses		3,413		2,858		6,650		5,958
Total personnel expenses		8,824		7,079		17,442		14,351

The following table summarizes the allocation of personnel expenses by nature during the three and six months ended June 30, 2024 and 2023:

	Three Months Ended June 30,					Six Months Ended June 30,
	2024		2023			2024		2023
Wages and salaries		5,540		4,078			10,684		8,516
Social security contributions		1,515		1,185			2,722		1,884
Expenses for pension commitments		244		246			553		504
Employer contribution to bonus shares		—		(244	)		—		—
Share-based payments		1,525		1,814			3,483		3,446
Total		8,824		7,079			17,442		14,351

The increase in personnel expenses is due to the recruitment of internal resources mostly based in North America to support development activities.