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Share-based payments (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-based payments |
Summary of Omnibus stock plan | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | Number of |  | Weighted average exercise
​ | ​ | options | ​ | price
Outstanding as of January 1, 2021 |  | — | ​ | $ | —
Granted |  | 33,513 | ​ | $ | 27.00
Exercised | ​ | — | ​ | ​ | —
Cancelled/forfeited | ​ | — | ​ | ​ | —
Outstanding as of December 31, 2021 |  | 33,513 | ​ | $ | 27.00
Granted | ​ | — | ​ | ​ | —
Exercised |  | — | ​ |  | —
Cancelled/forfeited | ​ | — | ​ | ​ | —
Outstanding as of December 31, 2022 | ​ | 33,513 | ​ | $ | 27.00
Granted | ​ | 3,500,000 | ​ | $ | 12.90
Exercised | ​ | — | ​ | ​ | —
Cancelled/forfeited | ​ | (33,513) | ​ | $ | 27.00
Outstanding as of December 31, 2023 |  | 3,500,000 | ​ | $ | 12.90
Summary of changes in the number of unvested RSUs | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | Number of |  | Weighted average grant
​ | ​ | RSU shares | ​ | date Fair Value
Unvested restricted shares as of January 1, 2021 |  | — | ​ | $ | —
Granted |  | 1,302,599 | ​ | $ | 17.34
Unvested restricted shares as of December 31, 2021 |  | 1,302,599 | ​ | $ | 17.34
Granted |  | 3,159,725 | ​ | $ | 14.02
Vested |  | (373,739) | ​ | $ | 17.45
Forfeited |  | (426,831) | ​ | $ | 16.03
Unvested restricted shares as of December 31, 2022 | ​ | 3,661,754 | ​ | $ | 14.69
Granted | ​ | 5,162,678 | ​ | $ | 11.50
Vested | ​ | (1,400,697) | ​ | $ | 13.51
Forfeited | ​ | (866,755) | ​ | $ | 13.10
Unvested restricted shares as of December 31, 2023 |  | 6,556,980 | ​ | $ | 12.66
Option To Acquire Class A Shares |
Share-based payments |
Summary of fair value assumptions and methodology of NHL warrants | ​
​ | ​ | ​ | ​ | ​
Valuation inputs: |  | 2021 |
Valuation model |  | Black-Scholes model | ​
Share price at grant date | ​ | $ | 27.00 | ​
Exercise price | ​ | $ | 8.96 | ​
Expected volatility (weighted-average) | ​ |  | 30 | %
Expected term (as of September 14, 2021) | ​ |  | 0 | ​
Risk-free interest rate (based on U.S. government bond) | ​ |  | 0.04 | %
Summary of NHL warrants | ​
​ | ​ | ​ | ​ | ​
Valuation inputs: |  | October 1, 2023 |
Valuation model | ​ | Black-Scholes model | ​
Share price at grant date1 |  | $ | 10.01 | ​
Exercise price2 |  | $ | 0.01 | ​
Expected volatility (average)3 | ​ |  | 46.4 | %
Expected term4 | ​ |  | 0.25-8 | years
Risk-free interest rate (average)5 | ​ |  | 4.79 | %
1 | Closing ordinary share price on Friday, September 29, 2023.
2 | Based on contractual terms.
3 | Calculated based on comparable companies’ historical volatilities based on industry and size over a time period commensurate with the options’ expected term for each vesting tranche.
4 | Options are assumed to be exercised immediately upon entering exercise window.
5 | Based on the U.S. Constant Maturity Treasury yield curve equal or approximate to options’ expected term as of the valuation date.
NHL Warrants |
Share-based payments |
Summary of fair value assumptions and methodology of NHL warrants | ​
​ | ​ | ​ | ​ | ​
Valuation inputs: |  | 2021 |
Valuation model |  | Cox-Ross-Rubinstein binominal model | ​
Share price at grant date | ​ | $ | 27.00 | ​
Exercise price | ​ | $ | 23.45 | ​
Expected volatility (weighted-average) | ​ |  | 30 | %
Expected term | ​ |  | 120 | months
Risk-free interest rate (based on U.S. government bond) | ​ |  | 1.28 | %
Summary of NHL warrants | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | Number of |  | Weighted average exercise
​ | ​ | warrants | ​ | price
Granted and outstanding as of July 22, 2021 |  | 1,353,740 | ​ | $ | 23.45
Unvested as of December 31, 2021 |  | 1,353,740 | ​ | $ | 23.45
Unvested as of December 31, 2022 | ​ | 1,353,740 | ​ | $ | 23.45
Unvested as of December 31, 2023 |  | 1,353,740 | ​ | $ | 23.45
NBA Warrants [Member] |
Share-based payments |
Summary of NHL warrants | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | Number of |  | Weighted average exercise
​ | ​ | warrants | ​ | price
Granted and outstanding as of October 1, 2021 |  | 9,229,797 | ​ | $ | 0.01
Vested and exercisable |  | (1,845,959) | ​ | $ | 0.01
Unvested as of December 31, 2021 |  | 7,383,838 | ​ | $ | 0.01
Unvested as of December 31, 2022 |  | 7,383,838 | ​ | $ | 0.01
Vested and exercisable | ​ | (230,745) | ​ | $ | 0.01
Unvested as of December 31, 2023 |  | 7,153,059 | ​ | $ | 0.01
2021 Plan |
Share-based payments |
Summary of fair value assumptions and methodology of NHL warrants | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Valuation inputs: |  | 2023 |  | 2021 |
Valuation model | ​ | Black-Scholes model | ​ | Black-Scholes model | ​
Share price at grant date | ​ | $ | 12.90 | ​ | $ | 27.00 | ​
Exercise price1 | ​ | $ | 12.90 | ​ | $ | 27.00 | ​
Expected volatility (average)2 |  | ​ | 47.00 | % | ​ | 37.33 | %
Expected term (average)3 |  | ​ | 6.5 | years | ​ | 6.5 | years
Expected dividends4 |  | ​ | — | ​ | ​ | — | ​
Risk-free interest rate5 |  | ​ | 3.50 | % | ​ | 1.03 | %
1 | Based on contractual terms
2 | Calculated based on comparable companies’ historical volatilities based on industry and size over a time period commensurate with the options’ expected term
3 | Presumed to be the midpoint between the vesting date and the end of the contractual term
4 | Assumes a dividend yield of zero as the Company has no plans to declare dividends in the foreseeable future
5 | Based on the U.S. Constant Maturity Treasury yield curve equal or approximate to options’ expected term as of the valuation date
Phantom Option Plan |
Share-based payments |
Summary of Phantom option plan | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted average grant
​ | ​ | Number of | ​ | date Fair Value per
​ |  | shares |  | option/share
Outstanding options as of January 1, 2021 |  | 3,475 | ​ | € | 1,352.74
Granted |  | 68 | ​ | € | 4,081.36
Forfeited before IPO-date |  | (79) | ​ | € | 1,352.74
Conversion to restricted share units |  | 1,199,364 | ​ | € | 3.91
Forfeited after the IPO date |  | (13,706) | ​ | € | 3.91
Vested |  | (350,174) | ​ | € | 3.91
Unvested restricted shares as of December 31, 2021 |  | 835,484 | ​ | € | 3.91
Vested |  | (269,131) |  | € | 3.91
Forfeited |  | (45,302) | ​ | € | 3.91
Unvested restricted shares as of December 31, 2022 | ​ | 521,051 | ​ | € | 3.91
Vested | ​ | (233,579) | ​ | € | 3.91
Forfeited | ​ | (61,268) | ​ | € | 3.91
Unvested restricted shares as of December 31, 2023 |  | 226,204 | ​ | € | 3.91
Management participation plan |
Share-based payments |
Summary of Management participation plan | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted average grant
​ | ​ | Number of | ​ | date Fair Value per
​ |  | shares |  | option/share
Unvested restricted shares as of January 1, 2022 |  | 5,635,029 | ​ | € | 759.84
Vested |  | (1,962,796) | ​ | € | 759.84
Forfeited |  | (293,583) | ​ | € | 759.84
Unvested restricted shares as of December 31, 2022 |  | 3,378,650 | ​ | € | 759.84
Vested |  | (1,905,966) |  | € | 759.84
Unvested restricted shares as of December 31, 2023 |  | 1,472,684 |  | € | 759.84

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