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"scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__13": { "value": "Norway", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__12": { "value": "Norway", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__9": { "value": "public listed company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__10": { "value": "Pexip is a global technology company that delivers a leading, end-to-end video conferencing platform and digital infrastructure", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__15": { "value": "The consolidated financial statements of Pexip Holding ASA and its subsidiaries (collectively, the Group) for the year ended December 31, 2023 was authorized for issue by a resolution of the directors on March 20, 2024.1.1 Adoption of new and revised accounting standardsThere are no new or changed standards and amendments for the annual report period commencing on January 1, 2023 relevant for the company. 1.1.2 New and revised IFRS standards in issue but not yet effectiveThe Group has not early adopted new and revised IFRS standards published but not mandatory for December 31, 2023 reporting periods. The Group does not expect that the adoption of these Standards will have a material impact on the financial statements in future periods.", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__17-1": { "value": "1.1 Adoption of new and revised accounting standardsThere are no new or changed standards and amendments for the annual report period commencing on January 1, 2023 relevant for the company.2.3.4 Current versus non-current classification An asset is classified as current when it is expected to be realized or intended for sale or consumption in the Group\u2019s normal operating cycle. It is held primarily to be traded or expected/due to be realized or settled within twelve months after the reporting date. Other assets are classified as non-current. A liability is classified as current when it is expected to be settled in the Group\u2019s normal operating cycle, is held primarily to be traded, the liability is due to be settled within twelve months after the reporting period or if the Group does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting period. All other liabilities are classified as non-current.Deferred tax assets and liabilities are classified as non-current assets and liabilities.Note 29 - Restructuring costs The restructuring costs from the reorganization undertaken in 2023 is recognized through profit and loss on line item \u2018other gains and losses\u2019. The cost recognized mainly relates to remaining salary obligations after release date for terminated employees and legal costs directly related to restructuring activities. Total restructuring costs amounted to NOK 8,1 million. 2023 2022 Total restructuring 8 073 61 290", "dimensions": { "concept": "ifrs-full:DisclosureOfNotesAndOtherExplanatoryInformationExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__16-1": { "value": "1.1 Adoption of new and revised accounting standardsThere are no new or changed standards and amendments for the annual report period commencing on January 1, 2023 relevant for the company.2.3.11 Impairment of intangible assets and property, plant, and equipment Goodwill and intangible assets that have an indefinite useful life are not subject to amortization and are tested annually for impairment or more frequently if events or changes in circumstances indicate that the carrying amount might be impaired. Other assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized as the amount by which the asset\u2019s carrying amount exceeds its recoverable amount. The recoverable amount is the higher asset\u2019s fair value, lower disposal costs, and value in use. To assess impairment, assets are grouped at the lowest levels. There are separately identifiable cash inflows largely independent of the cash inflows from other assets or groups of assets (cash-generating units). Non-financial assets other than goodwill that have historically been impaired are reviewed for possible reversal of the impairment at the end of each reporting period. Disclosures relating to impairment testing are found in note 11.2.4 Significant accounting judgements, estimates and assumptionsJudgements In the process of applying the Group\u2019s accounting policies, management has made the following judgements, which have the most significant effect on the amounts recognized in the consolidated financial statements:Determining the lease term of contracts with renewal options \u2013 Group as lesseeThe Group determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease if it is reasonably certain not to be exercised.The Group applies judgement in evaluating whether it is reasonably sure to exercise the option to extend. It considers all relevant factors that create an economic incentive for it to exercise either the renewal or termination. After the commencement date, the Group reassesses the lease term if there is a significant event or change in circumstances that are within its control and affects its ability to exercise or not to exercise the option.The Group has not included the renewal period as part of the lease term for the office lease as the options are not reasonably certain to be exercised. Refer to note 10 for information on potential future rental payments relating to periods following the exercise date of the extension option that is not included in the lease term.Estimates and assumptionsThe key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are described below. The Group based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. However, existing circumstances and assumptions about future developments may change due to market changes or circumstances arising that are beyond the control of the Group. Such changes are reflected in the assumptions when they occur.Impairment of assetsThe Group has investments in intangible assets such as customer contracts and internally generated software, Goodwill, and Right-of-Use Assets (ROU assets). Before each quarterly report, all assets are assessed for any indication of impairment. If such movement exists, the Group estimates the asset\u2019s recoverable amount according to IAS 36. Factors that indicate impairment include significant underperformance in revenue-generating operation relative to historical data and future projections, substantial changes in the use of the asset or any malfunctions, substantial changes in the market and economy, in general, affecting the future economic benefit of the asset and significant fall in market values. Regardless of any indication of impairment, Goodwill and internally generated intangible assets not yet in use are tested for impairment in the fourth quarter of the year (Q4). Refer to note 11 for sensitivity analysis of the impairment test.The recoverable amount of an asset is the higher its fair value, less cost of disposal, and its value in use. Value in use is the present value of the future cash flows expected from an asset. This valuation consists of different estimates that the Group makes, such as estimates of the future cash flows the entity expects to derive from the asset, expectations about possible variations in the amount or timing of those future amounts, time value of money and other relevant factors. All estimates are based on reasonable, relevant, and supportable information and represent the management\u2019s best estimate. Deferred tax assets from tax lossesDeferred tax asset is recognized for the carryforward of unused tax losses and unused tax credits to the extent that it is probable that future taxable profit will be available against which the unused tax losses and tax credits can be utilized. The Group has projected future taxable profits pr jurisdiction for which the tax losses can be utilized based on approved budgets and forecasts. Refer to note 7 for further disclosures.", "dimensions": { "concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__18-1": { "value": "1.1.2 New and revised IFRS standards in issue but not yet effectiveThe Group has not early adopted new and revised IFRS standards published but not mandatory for December 31, 2023 reporting periods. The Group does not expect that the adoption of these Standards will have a material impact on the financial statements in future periods.The consolidated financial statements have been prepared on a historical cost basis, except where IFRS explicitly requires the use of other values.The Parent company has NOK as its functional currency; the financial accounts are presented in NOK, rounded to the nearest thousand if nothing else is noted. As a result of the rounding differences, it is possible that amounts and percentages do not add up to the total.", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__20": { "value": "Note 2. Accounting principles 2.1 Basis for preparationThe financial accounts for Pexip Holding ASA \u201cthe Parent company\u201d together with its subsidiary Pexip AS, and its wholly-owned and controlled subsidiaries, together called \u201cthe Group\u201d, have been prepared following International Financial Reporting Standards as adopted by the EU(IFRS), relevant interpretations, and the Norwegian Accounting Act. The consolidated financial statements have been prepared on a historical cost basis, except where IFRS explicitly requires the use of other values.The Parent company has NOK as its functional currency; the financial accounts are presented in NOK, rounded to the nearest thousand if nothing else is noted. As a result of the rounding differences, it is possible that amounts and percentages do not add up to the total. 2.2 Basis of consolidationThe consolidated financial statements comprise the Parent Company\u2019s financial statements and subsidiaries as of December 31, 2023.Control is established when the Parent Company is exposed to, or has rights to, variable returns from its involvement with the entity and could affect those returns through its power over the entity. Consolidation is done using the acquisition method and begins when control over the subsidiary is obtained. The consolidation stops when the control ceases.Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with the Group\u2019s accounting policies.Intercompany transactions, balances, and unrealized gains on transactions between group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset.Profit or loss and each component of other comprehensive income (OCI) are attributed to the equity holders of the Parent Company. If the Group loses control over a subsidiary, it derecognizes the related assets (including goodwill), liabilities, non-controlling interest, and other equity components, while any resultant gain or loss is recognized in profit or loss. Any investment retained is recognized at fair value.A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.2.3 Summary of significant accounting policies2.3.1 Business combinations and goodwillThe acquisition method of accounting is used to account for all business combinations. The consideration transferred for the acquisition of a subsidiary comprises the:\u2022 fair values of the assets transferred.\u2022 liabilities incurred to the former owners of the acquired business.\u2022 equity interests issued by the group.\u2022 fair value of any asset or liability resulting from a contingent consideration arrangement, and\u2022 fair value of any pre-existing equity interest in the subsidiary.On the acquisition date, the identifiable assets acquired and the liabilities assumed are recognized at their fair value, except for: \u2022 Deferred tax assets or liabilities are recognized and measured under IAS 12 - Income taxes. \u2022 Liabilities or equity instruments related to share-based payment arrangements of the acquiree, or share-based payment arrangements of the Group entered to replace share-based payment arrangements of the acquiree, are measured per IFRS 2 at the acquisition date.\u2022 the value of a reacquired right is recognized as an intangible asset based on the remaining contractual term of the related contract regardless of whether market participants would consider potential contractual renewals when measuring its fair value.Acquisition-related costs are recognized in profit or loss as incurred.Contingent consideration is classified either as equity or financial liability. Amounts classified as financial liabilities are subsequently remeasured to fair value, with changes in fair value recognized in profit or loss.Goodwill is measured as the excess of the sum of the consideration transferred over the fair value of the net of the acquisition date amounts of the identifiable assets acquired, and the liabilities assumed. Goodwill arising in a business combination is not amortized. Initially, goodwill is recognized at cost. Thereafter, goodwill is measured at cost less accumulated impairment. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group\u2019s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units. The carrying amount of goodwill is tested for impairment at least annually. Impairment losses are recognized directly in profit for the year and are not subsequently reversed.2.3.2 Foreign currenciesTransactions and balancesTransactions in foreign currencies are translated into the respective functional currencies of Group companies at the exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rate at the reporting date. Differences in settlement or translation of monetary items are generally recognized in profit or loss.Non-monetary assets and liabilities measured at fair value in a foreign currency are translated into the functional currency at the exchange rate when the fair value is determined. Non-monetary items that are measured based on the historical cost in a foreign currency are translated at the exchange rate at the date of the transaction. The gain or loss arising on translation of non-monetary items measured at fair value is treated in line with the recognition of the gain or loss on the change in fair value of the item (i.e., translation differences on items whose fair value gain or loss is recognized in OCI or profit or loss are also recognized in OCI or profit or loss, respectively.)Group companiesThe Group\u2019s presentation currency is NOK. The results and financial position of foreign operations that have a functional currency different from the presentation currency are translated into the presentation currency as follows:\u2022 assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet.\u2022 income and expenses for each statement of profit or loss and statement of comprehensive income are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions), and\u2022 all resulting exchange differences are recognized in other comprehensive income2.3.4 Current versus non-current classification An asset is classified as current when it is expected to be realized or intended for sale or consumption in the Group\u2019s normal operating cycle. It is held primarily to be traded or expected/due to be realized or settled within twelve months after the reporting date. Other assets are classified as non-current. A liability is classified as current when it is expected to be settled in the Group\u2019s normal operating cycle, is held primarily to be traded, the liability is due to be settled within twelve months after the reporting period or if the Group does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting period. All other liabilities are classified as non-current.Deferred tax assets and liabilities are classified as non-current assets and liabilities.2.3.5 Revenue from contracts with customersRevenue from contracts with customers is recognized when control of the goods or services are transferred to the customer at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods and services.Revenue from the sale of software licensesInfinity software licenses are classified as software licenses where the customer is provided with a right to use the software as it exists when made available to the customer. Revenue from distinct software licenses is recognized at the point in time when the software is made available to the customer and the right to use the software has commenced. Most of the Infinity license agreements with customers are annual contracts. Invoices are generated when the license key is made available to the customers (at a point in time), and most invoices are payable within 30 days.Revenue from the sale of cloud servicesCloud service licenses, \u201csoftware as a service\u201d, entitle the customers to use the Pexip software together with the Group\u2019s IP and production network over the contract period. Revenues from the sale of Cloud Services are recognized overtime on a straight-line basis over the license period. Approximately 10% of the Cloud service license agreements with customers are ongoing monthly contracts; the rest are mainly yearly contracts. Invoices are generated monthly or yearly, and most invoices are payable within 30 days.Partner feesThe Group has a partner program that provides the partner with the right to sell The Group\u2019s services. The partner receives support, training and access to the service, and the performance obligations related to partner fees are satisfied on an ongoing basis. Revenue related to partner fees is thus recognized linearly over time.Most of the partner fees are invoiced, as are annual agreements. Invoices are generated at contract inception and payable within 30 days.Revenue from the sale of support and maintenanceThe Group offers support and maintenance services to its customers. For services related to the software licenses, the performance obligations related to support and maintenance are satisfied on an ongoing basis, and revenue related to the sales of services are thus recognized on a linear basis over time. Most of the maintenance and support agreements are related to the license period. Proof of concept (POC) is a professional service offered for up to 6 months. Revenue from these contracts is recognized linearly throughout the contract period. The Group also has customers with service contracts of 1-3 months. Revenues related to the sale of services are recognized on a linear basis over time. Transaction priceThe Group determines the transaction price to be the amount of consideration which it expects to be entitled in exchange for transferring the promised goods and services to the customer, net of discounts and sales-related taxes. Sales related taxes are regarded as collected on behalf of the authorities. When the contract includes a variable amount, the Group estimates the amount of consideration expected to receive from the customer using either the expected value method or the most likely method. The method is used consistently throughout the contract. The Group has few contracts with variable consideration. The Group uses the practical expedient in IFRS 15 not adjust for a financing component. Where applicable, the variable consideration is estimated using the most likely amount method. The estimate is revised and updated every quarter. The Group considers whether there are other promises in the contract that are separate performance obligations to which a portion of the transaction price needs to be allocated.Contract balancesContract balances consist of client-related assets and liabilities. Contract assets relate to consideration for work complete but not yet invoiced at the reporting date. The contract assets are transferred to trade receivables when the right to payment has become unconditional, usually when invoices are issued to the customers. When a client pays consideration in advance, or an amount of consideration is due contractually before transferring of the license or service. The amount received in advance is presented as a liability. Contract liabilities rep\u00acresent mainly prepayments from clients for unsatisfied or partially satisfied performance obligations concerning licenses and services. Contract assets are within the scope of impairment requirements in IFRS 9. For con\u00actract assets, the simplified approach is applied, and the expected loss provision is measured at the estimate of the lifetime expected credit losses.Costs of obtaining or fulfilling contracts with customers The Group pays sales commission to its employees based on actual sales. Commissions that are incremental costs of obtaining a contract with a customer are recognized as an asset if the costs are expected to be recovered. Subsequently, the asset is amortized on a systematic basis consistent with the transfer to the customer of the goods or services to which the asset relates. This is usually the expected total contract period and includes expected renewals. The expected contract period is seven and half years for software licenses and about five years for Cloud services. Further information regarding commission and salary is disclosed in note 4. 2.3.6 Government grantsGovernment grants are recognized with reasonable assurance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an asset, it reduces its carrying amount. The grant is then recognized in profit or loss over the useful life of the depreciable asset by way of a reduced depreciation charge.2.3.7 Employee benefitsShare Based payment transactionsThe Group provides incentives to employees in the form of equity-settled share-based instruments. The Company has two incentive programs: share-based programs for employees and management and key employees.Equity-settled share options are measured at fair value at the grant date and recognized in the income statement under salary and personnel expenses over the period\u2014the final right of the options vest. The balancing item is recognized directly in equity. The number of options expected to vest at expiry is estimated on the initial recognition of share options. Subsequently, the estimated number of vested options is revised for changes so that the total recognition is based on the actual number of vested options. The fair value of the options granted is estimated using the Black-Scholes model with the parameters stated in note 24.The dilutive effect of outstanding options is reflected as additional share dilution in diluted earnings per share (further details are given in note 8).Termination benefitsTermination benefits are payable when employment is terminated by the group before normal retirement date, or when the employee accepts voluntary redundancy in exchange for these benefits. The group recognized termination benefits at the earliest of a) when the group no longer can withdraw the offer of termination benefits and b) when the Group recognizes a restructuring cost according to IAS 37 that involves termination benefits. In the case where not all employees have signed a termination contract as of reporting period, Pexip will measure the remaining termination benefits based on expected number of employees that will accept the offer. 2.3.8 Other intangible assets Intangible assets other than goodwill acquired separately are measured on initial recognition at cost. Other intangible assets include software, trademarks, and client contracts. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses. Intangible assets with finite useful lives are amortized straight-line over their estimated useful lives. The amortization expense is recognized in the statement of profit or loss. The estimated useful life and amortization method is reviewed at the end of each reporting period, with the effect of any changes on estimates being accounted for on a prospective basis. Gains or losses arising from the disposal of an intangible asset are measured as the difference between the net disposal proceeds and the asset\u2019s carrying amount. They are recognized in the statement of profit or loss when the asset is derecognized.The estimated useful lives of intangible assets are as follows:\u2022 Software: 5 years\u2022 Client contracts: 5 years\u2022 Trademarks: 5 yearsResearch and development costsDevelopment expenditures are capitalized only when the criterion for recognition is met, i.e., that it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity, management has committed itself to complete the asset, the technical feasibility of completing the asset has been demonstrated, and the cost can be measured reliably. The assets are amortized over their expected useful life once the assets are available for use. During the period of development, the asset is tested for impairment annually. Development costs that do not meet the criteria for capitalization are expensed as incurred.2.3.9 Property, plant, and equipmentTangible assets are recorded at historical cost, less accumulated depreciation, and possible impairment. Depreciation is recorded on a straight-line basis over the estimated useful life of an asset, which is as follows:\u2022 Land and buildings: 5 years\u2022 Plant and machinery: 3 to 5 years\u2022 Fittings and fixtures: 3 to 5 yearsGains or losses on the disposal of tangible assets are included in the statement of profit or loss. The residual values, useful lives, and methods of depreciation of property, plant and equipment are reviewed at each financial year-end and adjusted prospectively, if appropriate.2.3.10 LeasesThe Group as lessee The Group assesses whether a contract is or contains a lease at the contract\u2019s inception. The Group recognizes a right-of-use asset and a corresponding lease liability concerning all lease arrangements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low-value assets (such as tablets and personal computers, small items of office furniture and telephones). For these leases, the Group recognizes the lease payments as an operating expense on a straight-line basis over the lease term. The Grouppresents interest expense on lease liabilities under finance expenses and the depreciation charge on the right-of-use asset under depreciation and amortization in the profit and loss statement.Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets, as follows:\u2022 Buildings: 2-10 years\u2022 Equipment: 3-5 yearsThe right-of-use assets are also subject to impairment. Refer to the accounting policies in section 2.3.11 Impairment of intangible assets and property, plant, and equipment.The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the Group uses its incremental borrowing rate.At the commencement date, the Group assesses whether they are reasonably certain to exercise an option to extend the lease or purchase the underlying asset or not to exercise an option to terminate the lease. This assessment is reflected in the initial measurement of the lease contract.The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and reducing the carrying amount to reflect the lease payments made. The lease liability and right-of-use asset are presented as separate lines in the consolidated statement of financial position. 2.3.11 Impairment of intangible assets and property, plant, and equipment Goodwill and intangible assets that have an indefinite useful life are not subject to amortization and are tested annually for impairment or more frequently if events or changes in circumstances indicate that the carrying amount might be impaired. Other assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized as the amount by which the asset\u2019s carrying amount exceeds its recoverable amount. The recoverable amount is the higher asset\u2019s fair value, lower disposal costs, and value in use. To assess impairment, assets are grouped at the lowest levels. There are separately identifiable cash inflows largely independent of the cash inflows from other assets or groups of assets (cash-generating units). Non-financial assets other than goodwill that have historically been impaired are reviewed for possible reversal of the impairment at the end of each reporting period. Disclosures relating to impairment testing are found in note 11.2.3.12 TaxesThe period\u2019s income tax expense or credit is the tax payable on the current period\u2019s taxable income, based on each jurisdiction\u2019s applicable income tax rate, adjusted for changes in deferred tax assets and liabilities attributable to temporary differences, and unused tax losses. Current income taxThe current income tax charge is calculated based on the tax laws enacted or substantively enacted at the end of the reporting period in the countries where the Group operates and generates taxable income. Management periodically evaluates positions taken in tax returns regarding situations in which applicable tax regulation is subject to interpretation. Management establishes appropriate provisions based on amounts expected to be paid to the tax authorities. Deferred tax Deferred income tax is provided in full, using the liability method, on temporary differences arising between assets and liabilities\u2019 tax bases and their carrying amounts in the consolidated financial statements. However, deferred tax liabilities are not recognized if they emerge from the initial recognition of goodwill. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantially enacted by the end of the reporting period and are expected to apply when the related deferred income tax asset is realized, or the deferred income tax liability is settled. Deferred tax assets are recognized only if it is probable that future taxable amounts will be available to utilize the temporary differences and losses. Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities. The deferred tax balances relate to the same taxation authority. Existing tax assets and tax liabilities are offset. The entity has a legally enforceable right to offset and intends to settle on a net basis or realize the asset and settle the liability simultaneously. Current and deferred tax is recognized in the income statement, except that it relates to items recognized in other comprehensive income or directly in equity. 2.3.13 Financial instrumentsFinancial assets and financial liabilities are recognized in the Group\u2019s statement of financial position when the Group becomes a party to the contractual provisions of the instrument.Financial assets and financial liabilities are initially measured at fair value plus transaction costs in the case of a financial instrument not at fair value through profit or loss. The Group has classified its financial instruments as either measured at amortized cost or fair value through profit or loss for subsequent measurement. The classification depends on the Group\u2019s business model for managing them and the contractual cash-flow characteristics of the instrument. At amortized cost, financial assets are held to collect the contractual cash-flow and where the cash-flows are solely payments of principal and interest on the outstanding principal. The category is included in the consolidated statement of financial position financial line items Trade and other receivables (current and non-current), Other assets, Other current assets and cash and cash equivalents. Non-current assets are measured at amortized cost using the effective interest method, reduced by any impairment loss. Due to their short-term nature, the carrying amounts of line items classified as current are assumed to be the same as their fair values. Short-term loans and receivables are for practical reasons not amortized unless the effect is material.The category financial liabilities at amortized cost are included in the consolidated statement of financial position line items Borrowings (current and non-current), and Trade and other payables. Non-current financial liabilities are measured at amortized cost using the effective interest method. Effective interest is recognized in the income statement as financial expenses. Fees paid on the establishment of loan facilities are recognized as transaction costs of the loan. Borrowings and trade and other payables are removed from the balance sheet when the obligation in the contract is discharged. Current items in the category are for practical reasons not amortized unless the effect is material. Financial assets are derecognized when the contractual rights to the cash flow from the financial asset expire, and the Group has transferred substantially all the risks and rewards of ownership. If it is not apparent that the entity has transferred or retained all risks and rewards substantially, the Group evaluates by comparing the entity\u2019s exposure, before and after the transfer, with the variability in the amounts and timing of the net cash flows on the transferred asset. In the securitization facility agreement to which the group is a party, the receivables are derecognized (see note 13). Financial liabilities are derecognized when the obligation is discharged, cancelled or expires. Any rights and obligations created or retained in such a transfer are recognized separately as assets or liabilities. The Group has applied the simplified approach in IFRS 9 to measure the loss allowance at lifetime ECL for trade receivables and contract assets. The Group determines the expected credit losses on these items by using a provision matrix, estimated based on historical credit loss experience based on the past due status of the debtors, adjusted as appropriate to reflect current conditions and estimates of future economic conditions. Accordingly, the credit risk profile of these assets is presented based on their past status in terms of the provision matrix.Financial assets and financial liabilities are offset with the net amount reported in the consolidated statement of financial position only if there is a currently enforceable legal right to offset the recognized amounts and an intent to settle on a net basis or to realize the assets and settle the liabilities simultaneously.The fair value of financial instrumentsThe fair value of financial instruments is based on quoted prices as at the balance sheet date in an active market if such markets exist. If an active market does not exist, fair value is established using valuation techniques that are expected to provide a reliable estimate of the fair value. Financial instruments measured at fair value are classified according to the valuation method: Level 1: Valuation based on quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Valuation based on inputs other than quoted prices included within level 1 observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices). Level 3: Valuation based on the asset or liability inputs that are unobservable market data. If one or more significant inputs are not based on observable market data, the instrument is included in level 3. Changes in fair value are presented in profit or loss in the line-item Financial expenses.2.3.14 Cash and cash equivalents Cash and cash equivalents comprise cash at banks.2.3.15 Cash flow statement The Group presents the statement of cash flows using the indirect method. Cash inflows and outflows are shown separately for investing and financing activities, while operating activities include cash and non-cash line items. Interest paid is classified as cash flows from financing activities and interest received as cash flows from operating activities. 2.3.16 Earnings per shareBasic earnings per shareBasic earnings per share are calculated by dividing:\u2022 the profit attributable to owners of the company, excluding any costs of servicing equity other than ordinary shares.\u2022 by the weighted average number of ordinary shares outstanding during the financial year, adjusted for bonus elements in ordinary shares issued and excluding treasury shares.Diluted earnings per shareDiluted earnings per share adjust the figures used in the determination of basic earnings per share to consider:\u2022 the after-income tax effect of interest and other financing costs associated with dilutive potential ordinary shares, and\u2022 the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares.2.3.17 Contributed EquityEquity is presented as a single line item in the balance sheet and is disclosed in the statement of changes in Equity showing the reconciliation of changes for each component of contributed Equity. The components presented are the Groups share capital and premium, other reserves, translation differences and retained earnings. Other reserves includes transactions related to shares such as treasury shares, share based payments and similar transactions. The Group has chosen to present share capital as only the external owned shares. 2.4 Significant accounting judgements, estimates and assumptionsJudgements In the process of applying the Group\u2019s accounting policies, management has made the following judgements, which have the most significant effect on the amounts recognized in the consolidated financial statements:Determining the lease term of contracts with renewal options \u2013 Group as lesseeThe Group determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease if it is reasonably certain not to be exercised.The Group applies judgement in evaluating whether it is reasonably sure to exercise the option to extend. It considers all relevant factors that create an economic incentive for it to exercise either the renewal or termination. After the commencement date, the Group reassesses the lease term if there is a significant event or change in circumstances that are within its control and affects its ability to exercise or not to exercise the option.The Group has not included the renewal period as part of the lease term for the office lease as the options are not reasonably certain to be exercised. Refer to note 10 for information on potential future rental payments relating to periods following the exercise date of the extension option that is not included in the lease term.Estimates and assumptionsThe key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are described below. The Group based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. However, existing circumstances and assumptions about future developments may change due to market changes or circumstances arising that are beyond the control of the Group. Such changes are reflected in the assumptions when they occur.Impairment of assetsThe Group has investments in intangible assets such as customer contracts and internally generated software, Goodwill, and Right-of-Use Assets (ROU assets). Before each quarterly report, all assets are assessed for any indication of impairment. If such movement exists, the Group estimates the asset\u2019s recoverable amount according to IAS 36. Factors that indicate impairment include significant underperformance in revenue-generating operation relative to historical data and future projections, substantial changes in the use of the asset or any malfunctions, substantial changes in the market and economy, in general, affecting the future economic benefit of the asset and significant fall in market values. Regardless of any indication of impairment, Goodwill and internally generated intangible assets not yet in use are tested for impairment in the fourth quarter of the year (Q4). Refer to note 11 for sensitivity analysis of the impairment test.The recoverable amount of an asset is the higher its fair value, less cost of disposal, and its value in use. Value in use is the present value of the future cash flows expected from an asset. This valuation consists of different estimates that the Group makes, such as estimates of the future cash flows the entity expects to derive from the asset, expectations about possible variations in the amount or timing of those future amounts, time value of money and other relevant factors. All estimates are based on reasonable, relevant, and supportable information and represent the management\u2019s best estimate. Deferred tax assets from tax lossesDeferred tax asset is recognized for the carryforward of unused tax losses and unused tax credits to the extent that it is probable that future taxable profit will be available against which the unused tax losses and tax credits can be utilized. The Group has projected future taxable profits pr jurisdiction for which the tax losses can be utilized based on approved budgets and forecasts. Refer to note 7 for further disclosures.", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__21": { "value": "2.1 Basis for preparationThe financial accounts for Pexip Holding ASA \u201cthe Parent company\u201d together with its subsidiary Pexip AS, and its wholly-owned and controlled subsidiaries, together called \u201cthe Group\u201d, have been prepared following International Financial Reporting Standards as adopted by the EU(IFRS), relevant interpretations, and the Norwegian Accounting Act. The consolidated financial statements have been prepared on a historical cost basis, except where IFRS explicitly requires the use of other values.The Parent company has NOK as its functional currency; the financial accounts are presented in NOK, rounded to the nearest thousand if nothing else is noted. As a result of the rounding differences, it is possible that amounts and percentages do not add up to the total.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__23": { "value": "2.2 Basis of consolidationThe consolidated financial statements comprise the Parent Company\u2019s financial statements and subsidiaries as of December 31, 2023.Control is established when the Parent Company is exposed to, or has rights to, variable returns from its involvement with the entity and could affect those returns through its power over the entity. Consolidation is done using the acquisition method and begins when control over the subsidiary is obtained. The consolidation stops when the control ceases.Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with the Group\u2019s accounting policies.Intercompany transactions, balances, and unrealized gains on transactions between group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset.Profit or loss and each component of other comprehensive income (OCI) are attributed to the equity holders of the Parent Company. If the Group loses control over a subsidiary, it derecognizes the related assets (including goodwill), liabilities, non-controlling interest, and other equity components, while any resultant gain or loss is recognized in profit or loss. Any investment retained is recognized at fair value.A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__26": { "value": "2.3.1 Business combinations and goodwillThe acquisition method of accounting is used to account for all business combinations. The consideration transferred for the acquisition of a subsidiary comprises the:\u2022 fair values of the assets transferred.\u2022 liabilities incurred to the former owners of the acquired business.\u2022 equity interests issued by the group.\u2022 fair value of any asset or liability resulting from a contingent consideration arrangement, and\u2022 fair value of any pre-existing equity interest in the subsidiary.On the acquisition date, the identifiable assets acquired and the liabilities assumed are recognized at their fair value, except for: \u2022 Deferred tax assets or liabilities are recognized and measured under IAS 12 - Income taxes. \u2022 Liabilities or equity instruments related to share-based payment arrangements of the acquiree, or share-based payment arrangements of the Group entered to replace share-based payment arrangements of the acquiree, are measured per IFRS 2 at the acquisition date.\u2022 the value of a reacquired right is recognized as an intangible asset based on the remaining contractual term of the related contract regardless of whether market participants would consider potential contractual renewals when measuring its fair value.Acquisition-related costs are recognized in profit or loss as incurred.Contingent consideration is classified either as equity or financial liability. Amounts classified as financial liabilities are subsequently remeasured to fair value, with changes in fair value recognized in profit or loss.Goodwill is measured as the excess of the sum of the consideration transferred over the fair value of the net of the acquisition date amounts of the identifiable assets acquired, and the liabilities assumed. Goodwill arising in a business combination is not amortized. Initially, goodwill is recognized at cost. Thereafter, goodwill is measured at cost less accumulated impairment. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group\u2019s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units. The carrying amount of goodwill is tested for impairment at least annually. Impairment losses are recognized directly in profit for the year and are not subsequently reversed.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__29": { "value": "Goodwill is measured as the excess of the sum of the consideration transferred over the fair value of the net of the acquisition date amounts of the identifiable assets acquired, and the liabilities assumed. Goodwill arising in a business combination is not amortized. Initially, goodwill is recognized at cost. Thereafter, goodwill is measured at cost less accumulated impairment. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group\u2019s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units. The carrying amount of goodwill is tested for impairment at least annually. Impairment losses are recognized directly in profit for the year and are not subsequently reversed.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__28": { "value": "Goodwill is measured as the excess of the sum of the consideration transferred over the fair value of the net of the acquisition date amounts of the identifiable assets acquired, and the liabilities assumed. Goodwill arising in a business combination is not amortized. Initially, goodwill is recognized at cost. Thereafter, goodwill is measured at cost less accumulated impairment. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group\u2019s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units. The carrying amount of goodwill is tested for impairment at least annually. Impairment losses are recognized directly in profit for the year and are not subsequently reversed.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__27": { "value": "Goodwill is measured as the excess of the sum of the consideration transferred over the fair value of the net of the acquisition date amounts of the identifiable assets acquired, and the liabilities assumed. Goodwill arising in a business combination is not amortized. Initially, goodwill is recognized at cost. Thereafter, goodwill is measured at cost less accumulated impairment. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group\u2019s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units. The carrying amount of goodwill is tested for impairment at least annually. Impairment losses are recognized directly in profit for the year and are not subsequently reversed.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__30": { "value": "2.3.2 Foreign currenciesTransactions and balancesTransactions in foreign currencies are translated into the respective functional currencies of Group companies at the exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rate at the reporting date. Differences in settlement or translation of monetary items are generally recognized in profit or loss.Non-monetary assets and liabilities measured at fair value in a foreign currency are translated into the functional currency at the exchange rate when the fair value is determined. Non-monetary items that are measured based on the historical cost in a foreign currency are translated at the exchange rate at the date of the transaction. The gain or loss arising on translation of non-monetary items measured at fair value is treated in line with the recognition of the gain or loss on the change in fair value of the item (i.e., translation differences on items whose fair value gain or loss is recognized in OCI or profit or loss are also recognized in OCI or profit or loss, respectively.)Group companiesThe Group\u2019s presentation currency is NOK. The results and financial position of foreign operations that have a functional currency different from the presentation currency are translated into the presentation currency as follows:\u2022 assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet.\u2022 income and expenses for each statement of profit or loss and statement of comprehensive income are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions), and\u2022 all resulting exchange differences are recognized in other comprehensive income", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__31": { "value": "Group companiesThe Group\u2019s presentation currency is NOK. The results and financial position of foreign operations that have a functional currency different from the presentation currency are translated into the presentation currency as follows:\u2022 assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet.\u2022 income and expenses for each statement of profit or loss and statement of comprehensive income are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions), and\u2022 all resulting exchange differences are recognized in other comprehensive income", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__33": { "value": "2.3.5 Revenue from contracts with customersRevenue from contracts with customers is recognized when control of the goods or services are transferred to the customer at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods and services.Revenue from the sale of software licensesInfinity software licenses are classified as software licenses where the customer is provided with a right to use the software as it exists when made available to the customer. Revenue from distinct software licenses is recognized at the point in time when the software is made available to the customer and the right to use the software has commenced. Most of the Infinity license agreements with customers are annual contracts. Invoices are generated when the license key is made available to the customers (at a point in time), and most invoices are payable within 30 days.Revenue from the sale of cloud servicesCloud service licenses, \u201csoftware as a service\u201d, entitle the customers to use the Pexip software together with the Group\u2019s IP and production network over the contract period. Revenues from the sale of Cloud Services are recognized overtime on a straight-line basis over the license period. Approximately 10% of the Cloud service license agreements with customers are ongoing monthly contracts; the rest are mainly yearly contracts. Invoices are generated monthly or yearly, and most invoices are payable within 30 days.Partner feesThe Group has a partner program that provides the partner with the right to sell The Group\u2019s services. The partner receives support, training and access to the service, and the performance obligations related to partner fees are satisfied on an ongoing basis. Revenue related to partner fees is thus recognized linearly over time.Most of the partner fees are invoiced, as are annual agreements. Invoices are generated at contract inception and payable within 30 days.Revenue from the sale of support and maintenanceThe Group offers support and maintenance services to its customers. For services related to the software licenses, the performance obligations related to support and maintenance are satisfied on an ongoing basis, and revenue related to the sales of services are thus recognized on a linear basis over time. Most of the maintenance and support agreements are related to the license period. Proof of concept (POC) is a professional service offered for up to 6 months. Revenue from these contracts is recognized linearly throughout the contract period. The Group also has customers with service contracts of 1-3 months. Revenues related to the sale of services are recognized on a linear basis over time. Transaction priceThe Group determines the transaction price to be the amount of consideration which it expects to be entitled in exchange for transferring the promised goods and services to the customer, net of discounts and sales-related taxes. Sales related taxes are regarded as collected on behalf of the authorities. When the contract includes a variable amount, the Group estimates the amount of consideration expected to receive from the customer using either the expected value method or the most likely method. The method is used consistently throughout the contract. The Group has few contracts with variable consideration. The Group uses the practical expedient in IFRS 15 not adjust for a financing component. Where applicable, the variable consideration is estimated using the most likely amount method. The estimate is revised and updated every quarter. The Group considers whether there are other promises in the contract that are separate performance obligations to which a portion of the transaction price needs to be allocated.Contract balancesContract balances consist of client-related assets and liabilities. Contract assets relate to consideration for work complete but not yet invoiced at the reporting date. The contract assets are transferred to trade receivables when the right to payment has become unconditional, usually when invoices are issued to the customers. When a client pays consideration in advance, or an amount of consideration is due contractually before transferring of the license or service. The amount received in advance is presented as a liability. Contract liabilities rep\u00acresent mainly prepayments from clients for unsatisfied or partially satisfied performance obligations concerning licenses and services. Contract assets are within the scope of impairment requirements in IFRS 9. For con\u00actract assets, the simplified approach is applied, and the expected loss provision is measured at the estimate of the lifetime expected credit losses.Costs of obtaining or fulfilling contracts with customers The Group pays sales commission to its employees based on actual sales. Commissions that are incremental costs of obtaining a contract with a customer are recognized as an asset if the costs are expected to be recovered. Subsequently, the asset is amortized on a systematic basis consistent with the transfer to the customer of the goods or services to which the asset relates. This is usually the expected total contract period and includes expected renewals. The expected contract period is seven and half years for software licenses and about five years for Cloud services. Further information regarding commission and salary is disclosed in note 4.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__34": { "value": "Transaction priceThe Group determines the transaction price to be the amount of consideration which it expects to be entitled in exchange for transferring the promised goods and services to the customer, net of discounts and sales-related taxes.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscountsAndRebatesExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__35": { "value": "Costs of obtaining or fulfilling contracts with customers The Group pays sales commission to its employees based on actual sales. Commissions that are incremental costs of obtaining a contract with a customer are recognized as an asset if the costs are expected to be recovered. Subsequently, the asset is amortized on a systematic basis consistent with the transfer to the customer of the goods or services to which the asset relates. This is usually the expected total contract period and includes expected renewals. The expected contract period is seven and half years for software licenses and about five years for Cloud services. Further information regarding commission and salary is disclosed in note 4.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForCustomerAcquisitionCostsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__37": { "value": "2.3.6 Government grantsGovernment grants are recognized with reasonable assurance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an asset, it reduces its carrying amount. The grant is then recognized in profit or loss over the useful life of the depreciable asset by way of a reduced depreciation charge.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__36-1": { "value": "2.3.6 Government grantsGovernment grants are recognized with reasonable assurance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an asset, it reduces its carrying amount. The grant is then recognized in profit or loss over the useful life of the depreciable asset by way of a reduced depreciation charge.The Group has received government grants related to development of software of NOK 4,75 million in 2022 and NOK 4,75 million in 2023. The grants have been subtracted from the carrying amount of internally generated software.", "dimensions": { "concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__39": { "value": "2.3.7 Employee benefitsShare Based payment transactionsThe Group provides incentives to employees in the form of equity-settled share-based instruments. The Company has two incentive programs: share-based programs for employees and management and key employees.Equity-settled share options are measured at fair value at the grant date and recognized in the income statement under salary and personnel expenses over the period\u2014the final right of the options vest. The balancing item is recognized directly in equity. The number of options expected to vest at expiry is estimated on the initial recognition of share options. Subsequently, the estimated number of vested options is revised for changes so that the total recognition is based on the actual number of vested options. The fair value of the options granted is estimated using the Black-Scholes model with the parameters stated in note 24.The dilutive effect of outstanding options is reflected as additional share dilution in diluted earnings per share (further details are given in note 8).Termination benefitsTermination benefits are payable when employment is terminated by the group before normal retirement date, or when the employee accepts voluntary redundancy in exchange for these benefits. The group recognized termination benefits at the earliest of a) when the group no longer can withdraw the offer of termination benefits and b) when the Group recognizes a restructuring cost according to IAS 37 that involves termination benefits. In the case where not all employees have signed a termination contract as of reporting period, Pexip will measure the remaining termination benefits based on expected number of employees that will accept the offer.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__38": { "value": "2.3.7 Employee benefitsShare Based payment transactionsThe Group provides incentives to employees in the form of equity-settled share-based instruments. The Company has two incentive programs: share-based programs for employees and management and key employees.Equity-settled share options are measured at fair value at the grant date and recognized in the income statement under salary and personnel expenses over the period\u2014the final right of the options vest. The balancing item is recognized directly in equity. The number of options expected to vest at expiry is estimated on the initial recognition of share options. Subsequently, the estimated number of vested options is revised for changes so that the total recognition is based on the actual number of vested options. The fair value of the options granted is estimated using the Black-Scholes model with the parameters stated in note 24.The dilutive effect of outstanding options is reflected as additional share dilution in diluted earnings per share (further details are given in note 8).Termination benefitsTermination benefits are payable when employment is terminated by the group before normal retirement date, or when the employee accepts voluntary redundancy in exchange for these benefits. The group recognized termination benefits at the earliest of a) when the group no longer can withdraw the offer of termination benefits and b) when the Group recognizes a restructuring cost according to IAS 37 that involves termination benefits. In the case where not all employees have signed a termination contract as of reporting period, Pexip will measure the remaining termination benefits based on expected number of employees that will accept the offer.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__40": { "value": "Termination benefitsTermination benefits are payable when employment is terminated by the group before normal retirement date, or when the employee accepts voluntary redundancy in exchange for these benefits. The group recognized termination benefits at the earliest of a) when the group no longer can withdraw the offer of termination benefits and b) when the Group recognizes a restructuring cost according to IAS 37 that involves termination benefits. In the case where not all employees have signed a termination contract as of reporting period, Pexip will measure the remaining termination benefits based on expected number of employees that will accept the offer.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__41": { "value": "2.3.8 Other intangible assets Intangible assets other than goodwill acquired separately are measured on initial recognition at cost. Other intangible assets include software, trademarks, and client contracts. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses. Intangible assets with finite useful lives are amortized straight-line over their estimated useful lives. The amortization expense is recognized in the statement of profit or loss. The estimated useful life and amortization method is reviewed at the end of each reporting period, with the effect of any changes on estimates being accounted for on a prospective basis. Gains or losses arising from the disposal of an intangible asset are measured as the difference between the net disposal proceeds and the asset\u2019s carrying amount. They are recognized in the statement of profit or loss when the asset is derecognized.The estimated useful lives of intangible assets are as follows:\u2022 Software: 5 years\u2022 Client contracts: 5 years\u2022 Trademarks: 5 years", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__43-1": { "value": "The estimated useful lives of intangible assets are as follows:\u2022 Software: 5 years\u2022 Client contracts: 5 years\u2022 Trademarks: 5 yearsDepreciation is recorded on a straight-line basis over the estimated useful life of an asset, which is as follows:\u2022 Land and buildings: 5 years\u2022 Plant and machinery: 3 to 5 years\u2022 Fittings and fixtures: 3 to 5 years", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__42-1": { "value": "The estimated useful lives of intangible assets are as follows:\u2022 Software: 5 years\u2022 Client contracts: 5 years\u2022 Trademarks: 5 yearsResearch and development costsDevelopment expenditures are capitalized only when the criterion for recognition is met, i.e., that it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity, management has committed itself to complete the asset, the technical feasibility of completing the asset has been demonstrated, and the cost can be measured reliably. The assets are amortized over their expected useful life once the assets are available for use. During the period of development, the asset is tested for impairment annually. Development costs that do not meet the criteria for capitalization are expensed as incurred.Depreciation is recorded on a straight-line basis over the estimated useful life of an asset, which is as follows:\u2022 Land and buildings: 5 years\u2022 Plant and machinery: 3 to 5 years\u2022 Fittings and fixtures: 3 to 5 yearsGains or losses on the disposal of tangible assets are included in the statement of profit or loss. The residual values, useful lives, and methods of depreciation of property, plant and equipment are reviewed at each financial year-end and adjusted prospectively, if appropriate.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__44": { "value": "Research and development costsDevelopment expenditures are capitalized only when the criterion for recognition is met, i.e., that it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity, management has committed itself to complete the asset, the technical feasibility of completing the asset has been demonstrated, and the cost can be measured reliably. The assets are amortized over their expected useful life once the assets are available for use. During the period of development, the asset is tested for impairment annually. Development costs that do not meet the criteria for capitalization are expensed as incurred.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__47": { "value": "2.3.9 Property, plant, and equipmentTangible assets are recorded at historical cost, less accumulated depreciation, and possible impairment. Depreciation is recorded on a straight-line basis over the estimated useful life of an asset, which is as follows:\u2022 Land and buildings: 5 years\u2022 Plant and machinery: 3 to 5 years\u2022 Fittings and fixtures: 3 to 5 yearsGains or losses on the disposal of tangible assets are included in the statement of profit or loss. The residual values, useful lives, and methods of depreciation of property, plant and equipment are reviewed at each financial year-end and adjusted prospectively, if appropriate.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__48": { "value": "2.3.10 LeasesThe Group as lessee The Group assesses whether a contract is or contains a lease at the contract\u2019s inception. The Group recognizes a right-of-use asset and a corresponding lease liability concerning all lease arrangements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low-value assets (such as tablets and personal computers, small items of office furniture and telephones). For these leases, the Group recognizes the lease payments as an operating expense on a straight-line basis over the lease term. The Grouppresents interest expense on lease liabilities under finance expenses and the depreciation charge on the right-of-use asset under depreciation and amortization in the profit and loss statement.Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets, as follows:\u2022 Buildings: 2-10 years\u2022 Equipment: 3-5 yearsThe right-of-use assets are also subject to impairment. Refer to the accounting policies in section 2.3.11 Impairment of intangible assets and property, plant, and equipment.The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the Group uses its incremental borrowing rate.At the commencement date, the Group assesses whether they are reasonably certain to exercise an option to extend the lease or purchase the underlying asset or not to exercise an option to terminate the lease. This assessment is reflected in the initial measurement of the lease contract.The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and reducing the carrying amount to reflect the lease payments made. The lease liability and right-of-use asset are presented as separate lines in the consolidated statement of financial position.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__50": { "value": "2.3.11 Impairment of intangible assets and property, plant, and equipment Goodwill and intangible assets that have an indefinite useful life are not subject to amortization and are tested annually for impairment or more frequently if events or changes in circumstances indicate that the carrying amount might be impaired. Other assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized as the amount by which the asset\u2019s carrying amount exceeds its recoverable amount. The recoverable amount is the higher asset\u2019s fair value, lower disposal costs, and value in use. To assess impairment, assets are grouped at the lowest levels. There are separately identifiable cash inflows largely independent of the cash inflows from other assets or groups of assets (cash-generating units). Non-financial assets other than goodwill that have historically been impaired are reviewed for possible reversal of the impairment at the end of each reporting period. Disclosures relating to impairment testing are found in note 11.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__49-1": { "value": "2.3.11 Impairment of intangible assets and property, plant, and equipment Goodwill and intangible assets that have an indefinite useful life are not subject to amortization and are tested annually for impairment or more frequently if events or changes in circumstances indicate that the carrying amount might be impaired. Other assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized as the amount by which the asset\u2019s carrying amount exceeds its recoverable amount. The recoverable amount is the higher asset\u2019s fair value, lower disposal costs, and value in use. To assess impairment, assets are grouped at the lowest levels. There are separately identifiable cash inflows largely independent of the cash inflows from other assets or groups of assets (cash-generating units). Non-financial assets other than goodwill that have historically been impaired are reviewed for possible reversal of the impairment at the end of each reporting period. Disclosures relating to impairment testing are found in note 11.Impairment of assetsThe Group has investments in intangible assets such as customer contracts and internally generated software, Goodwill, and Right-of-Use Assets (ROU assets). Before each quarterly report, all assets are assessed for any indication of impairment. If such movement exists, the Group estimates the asset\u2019s recoverable amount according to IAS 36. Factors that indicate impairment include significant underperformance in revenue-generating operation relative to historical data and future projections, substantial changes in the use of the asset or any malfunctions, substantial changes in the market and economy, in general, affecting the future economic benefit of the asset and significant fall in market values. Regardless of any indication of impairment, Goodwill and internally generated intangible assets not yet in use are tested for impairment in the fourth quarter of the year (Q4). Refer to note 11 for sensitivity analysis of the impairment test.The recoverable amount of an asset is the higher its fair value, less cost of disposal, and its value in use. Value in use is the present value of the future cash flows expected from an asset. This valuation consists of different estimates that the Group makes, such as estimates of the future cash flows the entity expects to derive from the asset, expectations about possible variations in the amount or timing of those future amounts, time value of money and other relevant factors. All estimates are based on reasonable, relevant, and supportable information and represent the management\u2019s best estimate.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__52": { "value": "2.3.12 TaxesThe period\u2019s income tax expense or credit is the tax payable on the current period\u2019s taxable income, based on each jurisdiction\u2019s applicable income tax rate, adjusted for changes in deferred tax assets and liabilities attributable to temporary differences, and unused tax losses. Current income taxThe current income tax charge is calculated based on the tax laws enacted or substantively enacted at the end of the reporting period in the countries where the Group operates and generates taxable income. Management periodically evaluates positions taken in tax returns regarding situations in which applicable tax regulation is subject to interpretation. Management establishes appropriate provisions based on amounts expected to be paid to the tax authorities. Deferred tax Deferred income tax is provided in full, using the liability method, on temporary differences arising between assets and liabilities\u2019 tax bases and their carrying amounts in the consolidated financial statements. However, deferred tax liabilities are not recognized if they emerge from the initial recognition of goodwill. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantially enacted by the end of the reporting period and are expected to apply when the related deferred income tax asset is realized, or the deferred income tax liability is settled. Deferred tax assets are recognized only if it is probable that future taxable amounts will be available to utilize the temporary differences and losses. Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities. The deferred tax balances relate to the same taxation authority. Existing tax assets and tax liabilities are offset. The entity has a legally enforceable right to offset and intends to settle on a net basis or realize the asset and settle the liability simultaneously. Current and deferred tax is recognized in the income statement, except that it relates to items recognized in other comprehensive income or directly in equity.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__51": { "value": "Current income taxThe current income tax charge is calculated based on the tax laws enacted or substantively enacted at the end of the reporting period in the countries where the Group operates and generates taxable income. Management periodically evaluates positions taken in tax returns regarding situations in which applicable tax regulation is subject to interpretation. Management establishes appropriate provisions based on amounts expected to be paid to the tax authorities.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__55": { "value": "2.3.13 Financial instrumentsFinancial assets and financial liabilities are recognized in the Group\u2019s statement of financial position when the Group becomes a party to the contractual provisions of the instrument.Financial assets and financial liabilities are initially measured at fair value plus transaction costs in the case of a financial instrument not at fair value through profit or loss.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__54": { "value": "2.3.13 Financial instrumentsFinancial assets and financial liabilities are recognized in the Group\u2019s statement of financial position when the Group becomes a party to the contractual provisions of the instrument.Financial assets and financial liabilities are initially measured at fair value plus transaction costs in the case of a financial instrument not at fair value through profit or loss.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__53": { "value": "Non-current assets are measured at amortized cost using the effective interest method, reduced by any impairment loss. Due to their short-term nature, the carrying amounts of line items classified as current are assumed to be the same as their fair values. Short-term loans and receivables are for practical reasons not amortized unless the effect is material.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__57": { "value": "The category financial liabilities at amortized cost are included in the consolidated statement of financial position line items Borrowings (current and non-current), and Trade and other payables. Non-current financial liabilities are measured at amortized cost using the effective interest method. Effective interest is recognized in the income statement as financial expenses. Fees paid on the establishment of loan facilities are recognized as transaction costs of the loan. Borrowings and trade and other payables are removed from the balance sheet when the obligation in the contract is discharged. Current items in the category are for practical reasons not amortized unless the effect is material.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__56": { "value": "Financial assets are derecognized when the contractual rights to the cash flow from the financial asset expire, and the Group has transferred substantially all the risks and rewards of ownership. If it is not apparent that the entity has transferred or retained all risks and rewards substantially, the Group evaluates by comparing the entity\u2019s exposure, before and after the transfer, with the variability in the amounts and timing of the net cash flows on the transferred asset. In the securitization facility agreement to which the group is a party, the receivables are derecognized (see note 13). Financial liabilities are derecognized when the obligation is discharged, cancelled or expires. Any rights and obligations created or retained in such a transfer are recognized separately as assets or liabilities.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__58": { "value": "The fair value of financial instrumentsThe fair value of financial instruments is based on quoted prices as at the balance sheet date in an active market if such markets exist. If an active market does not exist, fair value is established using valuation techniques that are expected to provide a reliable estimate of the fair value. Financial instruments measured at fair value are classified according to the valuation method: Level 1: Valuation based on quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Valuation based on inputs other than quoted prices included within level 1 observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices). Level 3: Valuation based on the asset or liability inputs that are unobservable market data. If one or more significant inputs are not based on observable market data, the instrument is included in level 3. Changes in fair value are presented in profit or loss in the line-item Financial expenses.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__59": { "value": "2.3.14 Cash and cash equivalents Cash and cash equivalents comprise cash at banks.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__60": { "value": "2.3.15 Cash flow statement The Group presents the statement of cash flows using the indirect method. Cash inflows and outflows are shown separately for investing and financing activities, while operating activities include cash and non-cash line items. Interest paid is classified as cash flows from financing activities and interest received as cash flows from operating activities.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__61": { "value": "2.3.16 Earnings per shareBasic earnings per shareBasic earnings per share are calculated by dividing:\u2022 the profit attributable to owners of the company, excluding any costs of servicing equity other than ordinary shares.\u2022 by the weighted average number of ordinary shares outstanding during the financial year, adjusted for bonus elements in ordinary shares issued and excluding treasury shares.Diluted earnings per shareDiluted earnings per share adjust the figures used in the determination of basic earnings per share to consider:\u2022 the after-income tax effect of interest and other financing costs associated with dilutive potential ordinary shares, and\u2022 the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__62": { "value": "The components presented are the Groups share capital and premium, other reserves, translation differences and retained earnings. Other reserves includes transactions related to shares such as treasury shares, share based payments and similar transactions. The Group has chosen to present share capital as only the external owned shares. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__63-1": { "value": "2.4 Significant accounting judgements, estimates and assumptionsJudgements In the process of applying the Group\u2019s accounting policies, management has made the following judgements, which have the most significant effect on the amounts recognized in the consolidated financial statements:Determining the lease term of contracts with renewal options \u2013 Group as lesseeThe Group determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease if it is reasonably certain not to be exercised.The Group applies judgement in evaluating whether it is reasonably sure to exercise the option to extend. It considers all relevant factors that create an economic incentive for it to exercise either the renewal or termination. After the commencement date, the Group reassesses the lease term if there is a significant event or change in circumstances that are within its control and affects its ability to exercise or not to exercise the option.The Group has not included the renewal period as part of the lease term for the office lease as the options are not reasonably certain to be exercised. Refer to note 10 for information on potential future rental payments relating to periods following the exercise date of the extension option that is not included in the lease term.Estimates and assumptionsThe key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are described below. The Group based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. However, existing circumstances and assumptions about future developments may change due to market changes or circumstances arising that are beyond the control of the Group. Such changes are reflected in the assumptions when they occur.Impairment of assetsThe Group has investments in intangible assets such as customer contracts and internally generated software, Goodwill, and Right-of-Use Assets (ROU assets). Before each quarterly report, all assets are assessed for any indication of impairment. If such movement exists, the Group estimates the asset\u2019s recoverable amount according to IAS 36. Factors that indicate impairment include significant underperformance in revenue-generating operation relative to historical data and future projections, substantial changes in the use of the asset or any malfunctions, substantial changes in the market and economy, in general, affecting the future economic benefit of the asset and significant fall in market values. Regardless of any indication of impairment, Goodwill and internally generated intangible assets not yet in use are tested for impairment in the fourth quarter of the year (Q4). Refer to note 11 for sensitivity analysis of the impairment test.The recoverable amount of an asset is the higher its fair value, less cost of disposal, and its value in use. Value in use is the present value of the future cash flows expected from an asset. This valuation consists of different estimates that the Group makes, such as estimates of the future cash flows the entity expects to derive from the asset, expectations about possible variations in the amount or timing of those future amounts, time value of money and other relevant factors. All estimates are based on reasonable, relevant, and supportable information and represent the management\u2019s best estimate. Deferred tax assets from tax lossesDeferred tax asset is recognized for the carryforward of unused tax losses and unused tax credits to the extent that it is probable that future taxable profit will be available against which the unused tax losses and tax credits can be utilized. The Group has projected future taxable profits pr jurisdiction for which the tax losses can be utilized based on approved budgets and forecasts. Refer to note 7 for further disclosures.Note 11 - Goodwill (NOK 1,000)12/31/2023 12/31/2022Carrying amount of Goodwill January 1st 662 645 662 645Impairment of Goodwill -63 647Carrying amount of Goodwill December 31st 598 998 662 645The carrying amount of goodwill in the Group amounts to NOK 599 million as of December 31, 2023. Goodwill is derived from the acquisition of Videxio AS (599 million), which was completed in 2018. Goodwill is tested on an aggregate (Group) level since the synergies stemming from the business combination will materialize on the group level that means that there is only one single CGU. During 2023 the goodwill related from the acquisition of Skedify B.V. in 2021 was considered impaired, leading to the reduction in goodwill during 2023. Goodwill is tested for impairment annually or more frequently if there are indications that goodwill might be impaired, and has been assessed on a quarterly basis through 2023. Testing was most recently conducted in Q4 2023 based on the updated business plan for the company at this time and the balance sheet per 30 September 2023. The recoverable amount is set to the estimated value in use. The value in use is the net present value of the estimated cash flow before tax, using a discount rate reflecting the timing of the cash flows and the expected risk.AssumptionsFuture cash flowsRevenue development and operating profits are estimated based on past performance and management expectations for 2024 to 2028. The expectations for the overall economic conditions and market outlook are in line with industry analysts, expecting continued strong growth within the collaboration market. The forward-looking revenue assumptions are overall in line with 2023, as are the assumption on cost development. These are in line with the stated strategy and current financial targets of the company. Capital investments and depreciation are estimated to align with historic values relative to revenues.Pre-tax discount rateCash flows were discounted to a weighted average cost of capital (WACC) corresponding to 11.42% (before tax) (2022: 11.27%). The asset beta is based on the average of peer companies in the segment with a small company premium. The risk-free interest rate applied is the the daily observable rate for the 10-year Norwegian government bonds, dated 11 December, i.e. the date of board approval of the 2024-2028 business plan. The long-term optimal weight of equity of 95% is used in WACC calculation.Growth rateThe expected growth in revenue is based on historical performance as well as the expected future development in line with the Company\u2019s approved business plan. This includes management\u2019s best estimate of cash flows for the next 5 years. Cash flows beyond the five-year forecast period have been extrapolated using a steady 2.934% per annum growth rate, in line with previous years. Sensitivity analysisReview for the CGU indicated that the recoverable amount exceeds carrying value by NOK 907 million at the balance sheet date. The Group has prepared a sensitivity analysis of the impairment test for key assumptions: terminal growth rate, discount rate and EBITDA change. The following changes in key assumptions, in isolation, would result in recoverable amount being close to equal to the carrying amount of goodwill. Change in one of the key assumptions may impact the development of others, however, due to the significant uncertainties and judgement in determining such dependency, this has not been done. The sensitivities, which result in the recoverable amount being equal to the carrying value, are summarized below:\u2022 an absolute increase in the WACC of 7.87%, from 11.42% to 19.29%, or\u2022 an absolute reduction of 6.55 percentage points in the business plan growth rate and perpetual growth rate, from perpetual growth of 2.93% to growth of -3.62%, or\u2022 a reduction of 42% in the forecasted EBITDA.Changes beyond those described may thus lead to a impairment situation.An alternative way to assess the sensitivity of key assumptions is to assess the potential impairment need from a negative development in the key assumptions. For 2023 the company\u2019s standard sensitivity ranges (+- 4% for growth and WACC, +- 40% for EBITDA) does not lead to the carrying amount of goodwill exceeding the recoverable amounts.Impairment of Goodwill related to Skedify acquisitionThe Goodwill from Skedify has been assessed against a single, company-wide Cash Generating Unit together with the rest of the Pexip goodwill since the acquisition in 2021, and including at the time of the impairment test above. At the end of Q4 2023 the company changed strategy and executed a cost reduction in the Pexip Engage business area, which will manage the unit as a stand-alone business and have a positive contribution to overall cash flow and profitability. While this improves the short-term results, it may have a negative impact on the future growth of the business unit, and due to this management finds it prudent to impair the value of the goodwill related to the Skedify acquisition.Skedify was acquired on November 8, 2021, with part of the acquisition amount being accounted for as goodwill of NOK 63.6 million. Further details on this can be found in the 2021 Annual Accounts. The impairment of goodwill of NOK 63.6 million has been recognized in the P&L for 2023, reducing Non-current assets with the same amount.", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__69": { "value": "Note 3 - Revenue and segment information(NOK 1,000)The Group has one segment, sale of collaboration services.The market for Pexip\u2019s software and services is global. The chief decision maker will therefore follow up revenue and profitability on a global basis. This is consistent with the internal reporting submitted to the chief operating decision maker, defined as the Management Group. The Management Group is responsible for allocating resources and assessing performance as well as making strategic decisions.Principles of revenue recognition are stated in accounting principles to consolidated financial statements, section 2.3.5 Revenue from contracts with customers.Disaggregation of revenueIn the following table, revenue is disaggregated by primary service line, geography and timing of revenue recognition. In presenting the geographic information, revenue has been based on the geographic location of customers.Full year 20231)Americas APACEMEA Total Pexip as-a-Service 245 915 187 456 25 279 458 651Self-hosted Software 255 567 229 062 50 302 534 931Total revenue 501 482 416 519 75 582 993 582Full year 20221)Americas APACEMEA Total Pexip as-a-Service 235 619 146 790 25 773 408 181Self-hosted Software 236 286 170 156 52 433 458 875Total revenue 471 905 316 946 78 206 867 056Timing of revenue recognition2023 2022Products and services transferred at a point in time 413 130 368 629Products and services transferred over time 580 452 498 426Total revenue 993 582 867 0561) Europe, Middle East and Africa2) Asia Pacific (East and South Asia, Southeast Asia and Oceania)Information about major customers The Group conducts its sales through channel partners. Of the Group\u2019s total channel partner base per 2023, the five largest represent approximately 26% of total revenue (28% for FY 2022), and the ten largest represent approximately 41% (40% for FY 2022). No channel partner represent more than 10% of the Group\u2019s revenue. Information about share of recurring revenue from own productsRecurrring revenue from own products is defined as revenue from time-limited contracts where the purchase is recurring in nature. Revenue from time-limited software subscriptions and related mandatory maintenance contracts are considered recurring. Revenue from third-party software licences, perpetual software-licences and project-based professional services, such as a customer-specific proof-of-concept project or installation project, are considered non-recurring. Non-current assetsThe following geographic information of non-current assets is based on the geographic location of the assets.12/31/2023 12/31/2022Norway 232 221 328 338Europe (other than Norway) 98 706 95 155Americas 118 625 116 276APAC 29 275 30 808Total non-current operating assets 478 826 570 578Non-current assets for this purpose consist of property, plant and equipment, right-of-use assets, other intangible assets and contract costs.", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__68": { "value": "Note 3 - Revenue and segment information(NOK 1,000)The Group has one segment, sale of collaboration services.The market for Pexip\u2019s software and services is global. The chief decision maker will therefore follow up revenue and profitability on a global basis. This is consistent with the internal reporting submitted to the chief operating decision maker, defined as the Management Group. The Management Group is responsible for allocating resources and assessing performance as well as making strategic decisions.Principles of revenue recognition are stated in accounting principles to consolidated financial statements, section 2.3.5 Revenue from contracts with customers.Disaggregation of revenueIn the following table, revenue is disaggregated by primary service line, geography and timing of revenue recognition. In presenting the geographic information, revenue has been based on the geographic location of customers.Full year 20231)Americas APACEMEA Total Pexip as-a-Service 245 915 187 456 25 279 458 651Self-hosted Software 255 567 229 062 50 302 534 931Total revenue 501 482 416 519 75 582 993 582Full year 20221)Americas APACEMEA Total Pexip as-a-Service 235 619 146 790 25 773 408 181Self-hosted Software 236 286 170 156 52 433 458 875Total revenue 471 905 316 946 78 206 867 056Timing of revenue recognition2023 2022Products and services transferred at a point in time 413 130 368 629Products and services transferred over time 580 452 498 426Total revenue 993 582 867 0561) Europe, Middle East and Africa2) Asia Pacific (East and South Asia, Southeast Asia and Oceania)Information about major customers The Group conducts its sales through channel partners. Of the Group\u2019s total channel partner base per 2023, the five largest represent approximately 26% of total revenue (28% for FY 2022), and the ten largest represent approximately 41% (40% for FY 2022). No channel partner represent more than 10% of the Group\u2019s revenue. Information about share of recurring revenue from own productsRecurrring revenue from own products is defined as revenue from time-limited contracts where the purchase is recurring in nature. Revenue from time-limited software subscriptions and related mandatory maintenance contracts are considered recurring. Revenue from third-party software licences, perpetual software-licences and project-based professional services, such as a customer-specific proof-of-concept project or installation project, are considered non-recurring. Non-current assetsThe following geographic information of non-current assets is based on the geographic location of the assets.12/31/2023 12/31/2022Norway 232 221 328 338Europe (other than Norway) 98 706 95 155Americas 118 625 116 276APAC 29 275 30 808Total non-current operating assets 478 826 570 578Non-current assets for this purpose consist of property, plant and equipment, right-of-use assets, other intangible assets and contract costs.", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__67": { "value": "Note 3 - Revenue and segment information(NOK 1,000)The Group has one segment, sale of collaboration services.The market for Pexip\u2019s software and services is global. The chief decision maker will therefore follow up revenue and profitability on a global basis. This is consistent with the internal reporting submitted to the chief operating decision maker, defined as the Management Group. The Management Group is responsible for allocating resources and assessing performance as well as making strategic decisions.Principles of revenue recognition are stated in accounting principles to consolidated financial statements, section 2.3.5 Revenue from contracts with customers.Disaggregation of revenueIn the following table, revenue is disaggregated by primary service line, geography and timing of revenue recognition. In presenting the geographic information, revenue has been based on the geographic location of customers.Full year 20231)Americas APACEMEA Total Pexip as-a-Service 245 915 187 456 25 279 458 651Self-hosted Software 255 567 229 062 50 302 534 931Total revenue 501 482 416 519 75 582 993 582Full year 20221)Americas APACEMEA Total Pexip as-a-Service 235 619 146 790 25 773 408 181Self-hosted Software 236 286 170 156 52 433 458 875Total revenue 471 905 316 946 78 206 867 056Timing of revenue recognition2023 2022Products and services transferred at a point in time 413 130 368 629Products and services transferred over time 580 452 498 426Total revenue 993 582 867 0561) Europe, Middle East and Africa2) Asia Pacific (East and South Asia, Southeast Asia and Oceania)Information about major customers The Group conducts its sales through channel partners. Of the Group\u2019s total channel partner base per 2023, the five largest represent approximately 26% of total revenue (28% for FY 2022), and the ten largest represent approximately 41% (40% for FY 2022). No channel partner represent more than 10% of the Group\u2019s revenue. Information about share of recurring revenue from own productsRecurrring revenue from own products is defined as revenue from time-limited contracts where the purchase is recurring in nature. Revenue from time-limited software subscriptions and related mandatory maintenance contracts are considered recurring. Revenue from third-party software licences, perpetual software-licences and project-based professional services, such as a customer-specific proof-of-concept project or installation project, are considered non-recurring. Non-current assetsThe following geographic information of non-current assets is based on the geographic location of the assets.12/31/2023 12/31/2022Norway 232 221 328 338Europe (other than Norway) 98 706 95 155Americas 118 625 116 276APAC 29 275 30 808Total non-current operating assets 478 826 570 578Non-current assets for this purpose consist of property, plant and equipment, right-of-use assets, other intangible assets and contract costs.", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__66": { "value": "The Group has one segment, sale of collaboration services.The market for Pexip\u2019s software and services is global. The chief decision maker will therefore follow up revenue and profitability on a global basis. This is consistent with the internal reporting submitted to the chief operating decision maker, defined as the Management Group. The Management Group is responsible for allocating resources and assessing performance as well as making strategic decisions.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__70-1": { "value": "Note 4 - Salary and personnel expense and management remuneration(NOK 1,000)2023 2022Wages and salaries 388 776 515 401Social security tax 67 454 71 581 Commission and bonus employees 115 271 86 766 Share-based payment expense (note 24) 36 431 25 130 Pension costs (note 23) 38 875 45 639 Other personnel cost 9 901 15 255 Salary cost capitalised -35 273 -40 084 Total 621 435 719 687Average number of labour-years employed during the year 354 516 Commission employeesCommission cost has increased due to change of accounting and cost principle in Q2 2022, recognizing all in-direct sales commissions as cost immediatelyLoan to employeesThe Group provided unsecured loans to employees of NOK 50.6 thousand at December 31, 2023 (2022: NOK 192 thousand). The repayment schedule is 2 years and the interest rate is 2%.Bonus agreements and severance payThe bonus scheme and severance pay for Group management is disclosed in the management remuneration report for 2023. Remuneration to board of directors in the parent companyThe remuneration to board of directors is disclused in the management remuneration report for 2023.Share option planThe Group has share-based payment programs to employees. The share option plan is further presented in note 24. An overview of management share options is disclused in the management remuneration report for 2023.Note 23 - Pensions and other long-term employee benefits (NOK 1,000)The employees of the group are covered by different pension schemes that vary from country to country and between the different companies in accordance with local law. All the plans are assessed to be defined contribution plans. The period\u2019s contributions are recognised in the income statement as salary and personnel costs.The Norwegian company in the group is required to have an occupational pension scheme in accordance with the Norwegian law on required occupational pension (\u201clov om obligatorisk tjenestepensjon\u201d). The company\u2019s pension arrangements fulfil the requirements of the law.The pension plans in the group require that the company pays premiums to public or private administrative pension plans on a mandatory, contractual or voluntary basis. There are no further obligations once the annual premiums are paid. The premiums are accounted for as salary and personnel expenses as soon as they are incurred. Prepaid premiums are accounted for as an asset to the extent that future benefits can be determined as plausible.The group also provides standard life insurance, health insurance and travel insurance to its employees, the terms of which vary across the countries the group operates in.2023 2022Pension cost 38 875 45 639Long-term employee benefits comprise loans to employees (refer to note 4) and share-based payments (refer to note 24).", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__71": { "value": "Management remuneration The remuneration to management is disclosed in the management remuneration report for 2023.", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__74": { "value": "Note 5 - Other operating expenses(NOK 1,000)2023 2022Sales and marketing 27 655 55 891Computers and software 45 765 53 243Fees for external services 48 718 62 901Travel expenses 15 228 23 820Other operating expenses 18 526 41 047Other lease expense 3 989 642Total 159 880 237 544", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__73": { "value": "Note 5 - Other operating expenses(NOK 1,000)2023 2022Sales and marketing 27 655 55 891Computers and software 45 765 53 243Fees for external services 48 718 62 901Travel expenses 15 228 23 820Other operating expenses 18 526 41 047Other lease expense 3 989 642Total 159 880 237 544", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__75": { "value": "Auditor\u2019s feesThe remuneration breakdown (excl. VAT) paid to Deloitte AS and their associates is as follows:2023 2022Statutory audit 4 047 4 506Other assurance services 121Total 4 047 4 627", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__80": { "value": "Note 6 - Financial Income and expenses(NOK 1,000)2023 2022Interest income 19 004 7 958 Other financial income 190 1 Financial income 19 194 7 958 Interest expense -631 -900 Interest expense on lease liabilities (note 10) -2 020 -3 106 Other financial expenses -56 -598 Financial expenses -2 707 -4 604 Net foreign currency gains and losses 16 737 40 264 Net financial income(expense) 33 224 43 619", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__78": { "value": "Note 6 - Financial Income and expenses(NOK 1,000)2023 2022Interest income 19 004 7 958 Other financial income 190 1 Financial income 19 194 7 958 Interest expense -631 -900 Interest expense on lease liabilities (note 10) -2 020 -3 106 Other financial expenses -56 -598 Financial expenses -2 707 -4 604 Net foreign currency gains and losses 16 737 40 264 Net financial income(expense) 33 224 43 619", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__77": { "value": "Note 6 - Financial Income and expenses(NOK 1,000)2023 2022Interest income 19 004 7 958 Other financial income 190 1 Financial income 19 194 7 958 Interest expense -631 -900 Interest expense on lease liabilities (note 10) -2 020 -3 106 Other financial expenses -56 -598 Financial expenses -2 707 -4 604 Net foreign currency gains and losses 16 737 40 264 Net financial income(expense) 33 224 43 619", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__76": { "value": "Note 6 - Financial Income and expenses(NOK 1,000)2023 2022Interest income 19 004 7 958 Other financial income 190 1 Financial income 19 194 7 958 Interest expense -631 -900 Interest expense on lease liabilities (note 10) -2 020 -3 106 Other financial expenses -56 -598 Financial expenses -2 707 -4 604 Net foreign currency gains and losses 16 737 40 264 Net financial income(expense) 33 224 43 619", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__81": { "value": "Interest income 19 004 7 958", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__82": { "value": "Interest expense -631 -900", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__79": { "value": "Net foreign currency gains and losses 16 737 40 264", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__84": { "value": "Note 7 - Income tax expense(NOK 1,000)Specification of income tax expense: 2023 2022Current tax on profits for the year 4 656 4 992 Changes in deferred tax 10 482 -59 590 Adjustments for current tax of prior periods 1 116 61 Tax on profit/(loss) 16 253 -54 538Reconciliation from nominal to effective income tax rate: 2023 2022Profit/(loss) before tax -63 532 -316 786Estimated income tax according to nominal tax rate of 22 % -13 977 -69 693Effect from different tax rate in other countries -1 070 -1 054Effect of changes in tax rules and rates -279 -184Non-deductible expenses 9 310 -19 803Non-taxable income -639 24 852Share-based payment expenses 6 217Change in unrecognised deferred tax assets 14 573 8 716Adjustments for prior period tax 188Other items 1 930 2 629Income tax expense 16 253 -54 538Effective income tax rate -26% 17%Changes in tax rateThere are no material changes in tax rates in the Group for 2023Deferred tax balances: 12/31/2023 12/31/2022Deferred tax assets:Tax losses 212 006 211 324Tangible and intangible assets -6 878 -11 651Receivables 1 034 1 193Contract liabilities 34 373 26 947Current and non-current liabilities 4 229 13 457Set-off tax -36 106 -47 630Net deferred tax assets after set-off 208 657 193 640Unrecognised deferred tax assets -38 028 -24 361Net deferred tax assets 170 629 169 279Deferred tax liabilities:Tangible and intangible assets 63 299 63 018Set-off tax -36 106 -47 630Net deferred tax liabilities 27 193 15 388Deferred tax Tax Contract Current and non-assets Movements lossesliabilitiescurrent liabilities Other Total At January 2023 211 324 26 947 13 457 -10 458 241 270 (Charged)/credited - to profit or loss -12 985 7 426 -9 229 4 614 -10 173 - not recognized 13 667 13 667 At December 2023 212 006 34 373 4 229 -5 844 244 764Deferred tax Tangible and Current Contract Other liability Movements intangible assetsassetsliabilitiesdifferences Total At January 2023 63 018 63 018 (Charged)/credited - to profit or loss 281 281 At December 2023 63 299 63 299 Utilisation of taxable temporary differences are assessed by taxation authority and by taxable entity if the temporary differences can\u2019t be utilised across different entities within the same taxation authority. As of December 31, 2023 and 2022 a deferred tax asset is recognised for all the individual taxation authorities where the Group conduct business, with the exception for Pexip Belgium. The deferred tax asset is included in the balance sheet based on an assessment of the probability that sufficient taxable profit will be available in the future to allow the deferred tax asset to be utilised.Deferred tax assets on tax losses arising in Norway, the US and UK, in total NOK 177.7 million as at December 31, 2023 (2022: NOK 191.2 million) have been recognised based on the same assessment of the probability for sufficient taxable profit in the future.Temporary differences relating to the Pexip Belgium for which deferred tax assets have not been recognised was in the amount of NOK 38.0m in 2023 (2022: 24.3m).Tax losses carried forward 12/31/2023 12/31/2022Expire (2035 and forward) 5 177 20 354Never expires 924 762 885 170Total tax losses carried forward 929 939 905 525Tax losses for which deferred tax asset is recognised 784 156 801 691Tax losses for which no deferred tax asset is recognised 145 783 80 516Potential tax benefit from unrecognized assets 36 446 20 129Tax losses incurred in the US after January 1, 2018 do not expire, but are limited to 80% usage in one year. Tax losses carried forward from the US business with no expiration date amount to NOK 53.8 million at December 31, 2023 (December 31, 2022: NOK 43.8 million). The expiring tax losses have priority over the never-expiring losses and are used earliest-first. The main part of the losses carried forward is from Pexip Holding ASA (NOK 149.9 million) and Pexip AS (NOK 553.2 million).", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__85": { "value": "Deferred tax balances: 12/31/2023 12/31/2022Deferred tax assets:Tax losses 212 006 211 324Tangible and intangible assets -6 878 -11 651Receivables 1 034 1 193Contract liabilities 34 373 26 947Current and non-current liabilities 4 229 13 457Set-off tax -36 106 -47 630Net deferred tax assets after set-off 208 657 193 640Unrecognised deferred tax assets -38 028 -24 361Net deferred tax assets 170 629 169 279Deferred tax liabilities:Tangible and intangible assets 63 299 63 018Set-off tax -36 106 -47 630Net deferred tax liabilities 27 193 15 388Deferred tax Tax Contract Current and non-assets Movements lossesliabilitiescurrent liabilities Other Total At January 2023 211 324 26 947 13 457 -10 458 241 270 (Charged)/credited - to profit or loss -12 985 7 426 -9 229 4 614 -10 173 - not recognized 13 667 13 667 At December 2023 212 006 34 373 4 229 -5 844 244 764Deferred tax Tangible and Current Contract Other liability Movements intangible assetsassetsliabilitiesdifferences Total At January 2023 63 018 63 018 (Charged)/credited - to profit or loss 281 281 At December 2023 63 299 63 299 Utilisation of taxable temporary differences are assessed by taxation authority and by taxable entity if the temporary differences can\u2019t be utilised across different entities within the same taxation authority. As of December 31, 2023 and 2022 a deferred tax asset is recognised for all the individual taxation authorities where the Group conduct business, with the exception for Pexip Belgium. The deferred tax asset is included in the balance sheet based on an assessment of the probability that sufficient taxable profit will be available in the future to allow the deferred tax asset to be utilised.Deferred tax assets on tax losses arising in Norway, the US and UK, in total NOK 177.7 million as at December 31, 2023 (2022: NOK 191.2 million) have been recognised based on the same assessment of the probability for sufficient taxable profit in the future.Temporary differences relating to the Pexip Belgium for which deferred tax assets have not been recognised was in the amount of NOK 38.0m in 2023 (2022: 24.3m).", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__86": { "value": "Note 8 - Earnings per share(NOK 1,000)Earnings 2023 2022Earnings for the purpose of basic earnings per share beingnet profit attributable to the owners of the company -79 786 -262 248Effect of dilutive potential ordinary sharesEarnings for the purpose of diluted earnings per share -79 786 -262 248Number of sharesWeighted average number of ordinary shares for the purposeof basic earnings per share 101 343 895 101 495 376Effect of dilutive potential ordinary shares: Share options 922 946 122 044Weighted average number of ordinary shares for the purposeof diluted earnings per share102 266 841 101 617 420Earnings per shareBasic earnings per share -0.79 -2.58 Diluted earnings per share -0.79 -2.58 12/31/2023 12/31/2022Overview of outstanding share optionsShare-based payments awards (refer to note 24) 8 730 775 5 252 950Option over own equity instruments (refer to note 21)Total options and RSUs outstanding 8 730 775 5 252 950Dilutive potential ordinary shares of 922,946 for 2023 (2022: 122,044) differs from total outstanding options at December 31, 2023 (and December 31, 2022). The main reasons for this is that potential ordinary shares used to calculated diluted earnings per share are a weighted average for the year, the use of the treasury method when calculating dilutive potential ordinary shares and that the options over own equity instruments are anti-dilutive.", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__88": { "value": "Note 9 - Property, plant & equipment(NOK 1,000)Plant and Fittings and machineryfixtures TotalAcquisition cost January 1, 2022 18 754 41 791 60 643Additions 2 545 6 755 9 300Exchange differences 1 0 2Acquisition cost December 31, 2022 21 300 48 547 69 945Additions 3 564 2 464 6 027Disposals cost -1 995 -2 923 -4 919Reclassification between categories 15 875 -15 875Exchange differences 791 1 885 2 579Acquisition cost December 31, 2023 39 534 34 098 73 632Accumulated depreciation and impairment losses January 1, 2022 9 493 14 939 24 404Depreciation for the period 6 089 10 207 16 295Exchange differences 1 -1 1Accumulated depreciation and impairment losses December 31, 2022 15 582 25 146 40 700Depreciation for the period 8 022 14 393 22 415Disposals -1 818 -265 -2 083Reclassification between categories 10 982 -10 982Exchange differences 614 378 992Accumulated depreciation and impairment losses December 31, 2023 33 381 28 671 62 052Carrying value at December 31, 2022 5 717 23 402 29 039Carrying value at December 31, 2023 6 153 5 427 11 580Estimated useful life and depreciation plan is as follows:Useful life 3 - 5 years 3 - 5 yearsDepreciation plan Linear LinearProperty, plant and equipment was pledged as security for liabilities in 2022, this obligation is resolved by the end of 2023.", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__87": { "value": "Note 9 - Property, plant & equipment(NOK 1,000)Plant and Fittings and machineryfixtures TotalAcquisition cost January 1, 2022 18 754 41 791 60 643Additions 2 545 6 755 9 300Exchange differences 1 0 2Acquisition cost December 31, 2022 21 300 48 547 69 945Additions 3 564 2 464 6 027Disposals cost -1 995 -2 923 -4 919Reclassification between categories 15 875 -15 875Exchange differences 791 1 885 2 579Acquisition cost December 31, 2023 39 534 34 098 73 632Accumulated depreciation and impairment losses January 1, 2022 9 493 14 939 24 404Depreciation for the period 6 089 10 207 16 295Exchange differences 1 -1 1Accumulated depreciation and impairment losses December 31, 2022 15 582 25 146 40 700Depreciation for the period 8 022 14 393 22 415Disposals -1 818 -265 -2 083Reclassification between categories 10 982 -10 982Exchange differences 614 378 992Accumulated depreciation and impairment losses December 31, 2023 33 381 28 671 62 052Carrying value at December 31, 2022 5 717 23 402 29 039Carrying value at December 31, 2023 6 153 5 427 11 580Estimated useful life and depreciation plan is as follows:Useful life 3 - 5 years 3 - 5 yearsDepreciation plan Linear LinearProperty, plant and equipment was pledged as security for liabilities in 2022, this obligation is resolved by the end of 2023.", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__89": { "value": "Note 10 - Leases(NOK 1,000)Set out below are the carrying amount of right-of-use assets recognised and the movements during the period:Land and Plant and Buildingsmachinery TotalAs at January 1, 2022 95 779 7 583 103 362Additions (new leases) 2 757 438 3 195Adjustments -6 852 -6 852Depreciation expense -21 543 -2 418 -23 961Exchange differences 1 273 138 1 411As at December 31, 2022 71 413 5 741 77 154Additions (new leases) 4 859 135 4 994Adjustments -19 518 -19 518Depreciation expense -21 240 -905 -22 145Exchange differences 2 051 195 2 245As at December 31, 2023 37 564 5 166 42 730Lower of remaining lease term or useful life 2-10 years 3-5 yearsDepreciation method Linear LinearSet out below are the carrying amounts of lease liabilities and the movements during the period:2023 2022As at January 1 83 999 113 527Additions (new leases) 4 994 3 195Adjustments -20 238 -6 859Principal element of lease payments -21 737 -27 399Exchange differences 477 1 536As at December 31 47 495 83 999Maturity analysis of lease liabilities 12/31/2023 12/31/2022Less than 6 months 6 953 12 5256-12 months 9 453 12 7171-2 years 12 836 20 7252-5 years 20 646 32 273Over 5 years 963 10 199Total face value 50 853 88 440Carrying amount 47 495 83 999Current 16 069 26 439Non-current 31 427 57 560The following are the amounts recognised in profit or loss and other comprehensive income:2023 2022Depreciation expense for the right-of-use asset 22 145 23 942Interest expense on lease liabilities 2 015 2 896Exchange difference (included in OCI) 288 66Exchange difference (included in financial income) 69 1 536Expense related to short-term leases (included in other operating expenses) 3 989 625Total amount recognised in profit or loss 28 507 29 065The Group had total cash outflows for leases of NOK 29.9 million in 2023 (NOK 30.9 million in 2022). An incremental borrowing rate (IBR) of Nowa + 3% has been applied on all new leases during the 2023 accounting year. We have selected Nowa as the risk-free rate as a starting point to determine the IBR. We have also chosen to apply a constant financing spread adjustment of 3% to a portfolio of leases with reasonably similar characteristics (such as leases with a similar class of underlying assets). This approach will change if we observe the material differences in financing costs in the specific region we operate. Refer to note 2,3,10 for a summary of significant accounting policies and note 2,4 for significant accounting judgements, estimates and assumptions for the Group leases. Extension and purchase optionsThe Group\u2019s lease of lands and buildings have lease terms that vary from initially 12 months to 10 years, and some agreements involve a right of renewal which may be exercised during the last period of the lease term. The Group assesses whether it is reasonably certain to exercise the renewal right at the commencement date. Most of the leases are one year leases with renewal options. The lease contract with longer durations does not have any renewal options. The Group\u2019s potential future lease payments not included in the lease liabilities related to extension options is NOK 6.2 million (gross) on December 31, 2023 (NOK 14.8 million on December 31, 2022).Pexip has entered into a lease with commencement date in january 2024 that is not recognised in lease liability. The value of this lease liability is NOK 8.5 million and the duration is 69 months. The Group leases plant and machinery with 3 to 5 years lease terms. These contracts include a right to purchase the asset at the end of the contract term. The Group assesses whether it is reasonably certain to exercise the purchase option at the commencement date. The Group has estimated that all the purchase options will be exercised. No potential future lease payments are included in the lease liabilities related to purchasing options on December 31 in 2023 and 2022.", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__92": { "value": "Note 11 - Goodwill (NOK 1,000)12/31/2023 12/31/2022Carrying amount of Goodwill January 1st 662 645 662 645Impairment of Goodwill -63 647Carrying amount of Goodwill December 31st 598 998 662 645The carrying amount of goodwill in the Group amounts to NOK 599 million as of December 31, 2023. Goodwill is derived from the acquisition of Videxio AS (599 million), which was completed in 2018. Goodwill is tested on an aggregate (Group) level since the synergies stemming from the business combination will materialize on the group level that means that there is only one single CGU. During 2023 the goodwill related from the acquisition of Skedify B.V. in 2021 was considered impaired, leading to the reduction in goodwill during 2023. Goodwill is tested for impairment annually or more frequently if there are indications that goodwill might be impaired, and has been assessed on a quarterly basis through 2023. Testing was most recently conducted in Q4 2023 based on the updated business plan for the company at this time and the balance sheet per 30 September 2023. The recoverable amount is set to the estimated value in use. The value in use is the net present value of the estimated cash flow before tax, using a discount rate reflecting the timing of the cash flows and the expected risk.AssumptionsFuture cash flowsRevenue development and operating profits are estimated based on past performance and management expectations for 2024 to 2028. The expectations for the overall economic conditions and market outlook are in line with industry analysts, expecting continued strong growth within the collaboration market. The forward-looking revenue assumptions are overall in line with 2023, as are the assumption on cost development. These are in line with the stated strategy and current financial targets of the company. Capital investments and depreciation are estimated to align with historic values relative to revenues.Pre-tax discount rateCash flows were discounted to a weighted average cost of capital (WACC) corresponding to 11.42% (before tax) (2022: 11.27%). The asset beta is based on the average of peer companies in the segment with a small company premium. The risk-free interest rate applied is the the daily observable rate for the 10-year Norwegian government bonds, dated 11 December, i.e. the date of board approval of the 2024-2028 business plan. The long-term optimal weight of equity of 95% is used in WACC calculation.Growth rateThe expected growth in revenue is based on historical performance as well as the expected future development in line with the Company\u2019s approved business plan. This includes management\u2019s best estimate of cash flows for the next 5 years. Cash flows beyond the five-year forecast period have been extrapolated using a steady 2.934% per annum growth rate, in line with previous years. Sensitivity analysisReview for the CGU indicated that the recoverable amount exceeds carrying value by NOK 907 million at the balance sheet date. The Group has prepared a sensitivity analysis of the impairment test for key assumptions: terminal growth rate, discount rate and EBITDA change. The following changes in key assumptions, in isolation, would result in recoverable amount being close to equal to the carrying amount of goodwill. Change in one of the key assumptions may impact the development of others, however, due to the significant uncertainties and judgement in determining such dependency, this has not been done. The sensitivities, which result in the recoverable amount being equal to the carrying value, are summarized below:\u2022 an absolute increase in the WACC of 7.87%, from 11.42% to 19.29%, or\u2022 an absolute reduction of 6.55 percentage points in the business plan growth rate and perpetual growth rate, from perpetual growth of 2.93% to growth of -3.62%, or\u2022 a reduction of 42% in the forecasted EBITDA.Changes beyond those described may thus lead to a impairment situation.An alternative way to assess the sensitivity of key assumptions is to assess the potential impairment need from a negative development in the key assumptions. For 2023 the company\u2019s standard sensitivity ranges (+- 4% for growth and WACC, +- 40% for EBITDA) does not lead to the carrying amount of goodwill exceeding the recoverable amounts.Impairment of Goodwill related to Skedify acquisitionThe Goodwill from Skedify has been assessed against a single, company-wide Cash Generating Unit together with the rest of the Pexip goodwill since the acquisition in 2021, and including at the time of the impairment test above. At the end of Q4 2023 the company changed strategy and executed a cost reduction in the Pexip Engage business area, which will manage the unit as a stand-alone business and have a positive contribution to overall cash flow and profitability. While this improves the short-term results, it may have a negative impact on the future growth of the business unit, and due to this management finds it prudent to impair the value of the goodwill related to the Skedify acquisition.Skedify was acquired on November 8, 2021, with part of the acquisition amount being accounted for as goodwill of NOK 63.6 million. Further details on this can be found in the 2021 Annual Accounts. The impairment of goodwill of NOK 63.6 million has been recognized in the P&L for 2023, reducing Non-current assets with the same amount.", "dimensions": { "concept": "ifrs-full:DisclosureOfAssetsAndLiabilitiesWithSignificantRiskOfMaterialAdjustmentExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__91": { "value": "Note 11 - Goodwill (NOK 1,000)12/31/2023 12/31/2022Carrying amount of Goodwill January 1st 662 645 662 645Impairment of Goodwill -63 647Carrying amount of Goodwill December 31st 598 998 662 645The carrying amount of goodwill in the Group amounts to NOK 599 million as of December 31, 2023. Goodwill is derived from the acquisition of Videxio AS (599 million), which was completed in 2018. Goodwill is tested on an aggregate (Group) level since the synergies stemming from the business combination will materialize on the group level that means that there is only one single CGU. During 2023 the goodwill related from the acquisition of Skedify B.V. in 2021 was considered impaired, leading to the reduction in goodwill during 2023. Goodwill is tested for impairment annually or more frequently if there are indications that goodwill might be impaired, and has been assessed on a quarterly basis through 2023. Testing was most recently conducted in Q4 2023 based on the updated business plan for the company at this time and the balance sheet per 30 September 2023. The recoverable amount is set to the estimated value in use. The value in use is the net present value of the estimated cash flow before tax, using a discount rate reflecting the timing of the cash flows and the expected risk.AssumptionsFuture cash flowsRevenue development and operating profits are estimated based on past performance and management expectations for 2024 to 2028. The expectations for the overall economic conditions and market outlook are in line with industry analysts, expecting continued strong growth within the collaboration market. The forward-looking revenue assumptions are overall in line with 2023, as are the assumption on cost development. These are in line with the stated strategy and current financial targets of the company. Capital investments and depreciation are estimated to align with historic values relative to revenues.Pre-tax discount rateCash flows were discounted to a weighted average cost of capital (WACC) corresponding to 11.42% (before tax) (2022: 11.27%). The asset beta is based on the average of peer companies in the segment with a small company premium. The risk-free interest rate applied is the the daily observable rate for the 10-year Norwegian government bonds, dated 11 December, i.e. the date of board approval of the 2024-2028 business plan. The long-term optimal weight of equity of 95% is used in WACC calculation.Growth rateThe expected growth in revenue is based on historical performance as well as the expected future development in line with the Company\u2019s approved business plan. This includes management\u2019s best estimate of cash flows for the next 5 years. Cash flows beyond the five-year forecast period have been extrapolated using a steady 2.934% per annum growth rate, in line with previous years. Sensitivity analysisReview for the CGU indicated that the recoverable amount exceeds carrying value by NOK 907 million at the balance sheet date. The Group has prepared a sensitivity analysis of the impairment test for key assumptions: terminal growth rate, discount rate and EBITDA change. The following changes in key assumptions, in isolation, would result in recoverable amount being close to equal to the carrying amount of goodwill. Change in one of the key assumptions may impact the development of others, however, due to the significant uncertainties and judgement in determining such dependency, this has not been done. The sensitivities, which result in the recoverable amount being equal to the carrying value, are summarized below:\u2022 an absolute increase in the WACC of 7.87%, from 11.42% to 19.29%, or\u2022 an absolute reduction of 6.55 percentage points in the business plan growth rate and perpetual growth rate, from perpetual growth of 2.93% to growth of -3.62%, or\u2022 a reduction of 42% in the forecasted EBITDA.Changes beyond those described may thus lead to a impairment situation.An alternative way to assess the sensitivity of key assumptions is to assess the potential impairment need from a negative development in the key assumptions. For 2023 the company\u2019s standard sensitivity ranges (+- 4% for growth and WACC, +- 40% for EBITDA) does not lead to the carrying amount of goodwill exceeding the recoverable amounts.Impairment of Goodwill related to Skedify acquisitionThe Goodwill from Skedify has been assessed against a single, company-wide Cash Generating Unit together with the rest of the Pexip goodwill since the acquisition in 2021, and including at the time of the impairment test above. At the end of Q4 2023 the company changed strategy and executed a cost reduction in the Pexip Engage business area, which will manage the unit as a stand-alone business and have a positive contribution to overall cash flow and profitability. While this improves the short-term results, it may have a negative impact on the future growth of the business unit, and due to this management finds it prudent to impair the value of the goodwill related to the Skedify acquisition.Skedify was acquired on November 8, 2021, with part of the acquisition amount being accounted for as goodwill of NOK 63.6 million. Further details on this can be found in the 2021 Annual Accounts. The impairment of goodwill of NOK 63.6 million has been recognized in the P&L for 2023, reducing Non-current assets with the same amount.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__90-1": { "value": "Note 11 - Goodwill (NOK 1,000)12/31/2023 12/31/2022Carrying amount of Goodwill January 1st 662 645 662 645Impairment of Goodwill -63 647Carrying amount of Goodwill December 31st 598 998 662 645The carrying amount of goodwill in the Group amounts to NOK 599 million as of December 31, 2023. Goodwill is derived from the acquisition of Videxio AS (599 million), which was completed in 2018. Goodwill is tested on an aggregate (Group) level since the synergies stemming from the business combination will materialize on the group level that means that there is only one single CGU. During 2023 the goodwill related from the acquisition of Skedify B.V. in 2021 was considered impaired, leading to the reduction in goodwill during 2023. Goodwill is tested for impairment annually or more frequently if there are indications that goodwill might be impaired, and has been assessed on a quarterly basis through 2023. Testing was most recently conducted in Q4 2023 based on the updated business plan for the company at this time and the balance sheet per 30 September 2023. The recoverable amount is set to the estimated value in use. The value in use is the net present value of the estimated cash flow before tax, using a discount rate reflecting the timing of the cash flows and the expected risk.AssumptionsFuture cash flowsRevenue development and operating profits are estimated based on past performance and management expectations for 2024 to 2028. The expectations for the overall economic conditions and market outlook are in line with industry analysts, expecting continued strong growth within the collaboration market. The forward-looking revenue assumptions are overall in line with 2023, as are the assumption on cost development. These are in line with the stated strategy and current financial targets of the company. Capital investments and depreciation are estimated to align with historic values relative to revenues.Pre-tax discount rateCash flows were discounted to a weighted average cost of capital (WACC) corresponding to 11.42% (before tax) (2022: 11.27%). The asset beta is based on the average of peer companies in the segment with a small company premium. The risk-free interest rate applied is the the daily observable rate for the 10-year Norwegian government bonds, dated 11 December, i.e. the date of board approval of the 2024-2028 business plan. The long-term optimal weight of equity of 95% is used in WACC calculation.Growth rateThe expected growth in revenue is based on historical performance as well as the expected future development in line with the Company\u2019s approved business plan. This includes management\u2019s best estimate of cash flows for the next 5 years. Cash flows beyond the five-year forecast period have been extrapolated using a steady 2.934% per annum growth rate, in line with previous years. Sensitivity analysisReview for the CGU indicated that the recoverable amount exceeds carrying value by NOK 907 million at the balance sheet date. The Group has prepared a sensitivity analysis of the impairment test for key assumptions: terminal growth rate, discount rate and EBITDA change. The following changes in key assumptions, in isolation, would result in recoverable amount being close to equal to the carrying amount of goodwill. Change in one of the key assumptions may impact the development of others, however, due to the significant uncertainties and judgement in determining such dependency, this has not been done. The sensitivities, which result in the recoverable amount being equal to the carrying value, are summarized below:\u2022 an absolute increase in the WACC of 7.87%, from 11.42% to 19.29%, or\u2022 an absolute reduction of 6.55 percentage points in the business plan growth rate and perpetual growth rate, from perpetual growth of 2.93% to growth of -3.62%, or\u2022 a reduction of 42% in the forecasted EBITDA.Changes beyond those described may thus lead to a impairment situation.An alternative way to assess the sensitivity of key assumptions is to assess the potential impairment need from a negative development in the key assumptions. For 2023 the company\u2019s standard sensitivity ranges (+- 4% for growth and WACC, +- 40% for EBITDA) does not lead to the carrying amount of goodwill exceeding the recoverable amounts.Impairment of Goodwill related to Skedify acquisitionThe Goodwill from Skedify has been assessed against a single, company-wide Cash Generating Unit together with the rest of the Pexip goodwill since the acquisition in 2021, and including at the time of the impairment test above. At the end of Q4 2023 the company changed strategy and executed a cost reduction in the Pexip Engage business area, which will manage the unit as a stand-alone business and have a positive contribution to overall cash flow and profitability. While this improves the short-term results, it may have a negative impact on the future growth of the business unit, and due to this management finds it prudent to impair the value of the goodwill related to the Skedify acquisition.Skedify was acquired on November 8, 2021, with part of the acquisition amount being accounted for as goodwill of NOK 63.6 million. Further details on this can be found in the 2021 Annual Accounts. The impairment of goodwill of NOK 63.6 million has been recognized in the P&L for 2023, reducing Non-current assets with the same amount.Note 12 - Intangible assets (NOK 1,000) Customer Re-aquired Software contracts Patents rights Total Acquisition cost January 1, 2022 210 265 63 214 238 5 354 279 071 of which internally generated 127 512 127 512Additions (internally generated) 37 068 37 068Additions 82 629 82 629Government grants -4 750 -4 750Acquisition cost December 31, 2022 325 212 63 214 238 5 354 394 018 of which internally generated 159 830 159 830Additions (internally generated) 39 406 39 406Additions 1 095 1 095Translation differences 3 741Disposal -20 166 -20 166Government grants -4 750 -4 750Acquisition cost December 31, 2023 344 538 63 214 238 5 354 409 603 of which internally generated 194 487 194 487 Customer Re-aquired Software contracts Patents rights Total Accumulated amortisation andimpairment losses January 1, 2022 107 528 27 030 238 5 354 140 151 of which internally generated 52 595 52 595Amortisation of internally generated assets 35 732 35 732Amortisation of other assets 23 582 15 947 39 529Impairment -377 -377Accumulated amortisation andimpairment losses December 31, 2022 166 842 42 600 238 5 354 215 034 of which internally generated 88 327 88 327Amortisation of internally generated assets 31 235 31 235Amortisation of other assets 43 855 15 554 59 410Translation differences 1 938 1 938Disposal -19 790 -19 790Accumulated amortisation andimpairment losses December 31, 2023 224 081 58 154 238 5 354 287 827 of which internally generated 119 562 119 562Carrying value as at January 1, 2022 102 737 36 184 138 921 of which internally generated 74 917 74 917Carrying value as at December 31, 2022 157 993 20 614 178 606 of which internally generated 71 503 71 503Carrying value as at December 31, 2023 120 457 5 060 125 516 of which internally generatedEstimated useful life and amortisation plan is as follows:Useful life5 years 5 years 5 years 1 yearAmortisation planstraight-line straight-line straight-line straight-lineThe development expenditures that do not meet the criteria for capitalisation are recognised as salary and personnel expenses and other operating expenses in profit and loss. The aggregate employee cost within software and product development, operations and support for 2023 which is not capitalized is NOK 143.5 million (2022: NOK 165,43 million).The Group has received government grants related to development of software of NOK 4,75 million in 2022 and NOK 4,75 million in 2023. The grants have been subtracted from the carrying amount of internally generated software.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__95": { "value": "Note 12 - Intangible assets (NOK 1,000) Customer Re-aquired Software contracts Patents rights Total Acquisition cost January 1, 2022 210 265 63 214 238 5 354 279 071 of which internally generated 127 512 127 512Additions (internally generated) 37 068 37 068Additions 82 629 82 629Government grants -4 750 -4 750Acquisition cost December 31, 2022 325 212 63 214 238 5 354 394 018 of which internally generated 159 830 159 830Additions (internally generated) 39 406 39 406Additions 1 095 1 095Translation differences 3 741Disposal -20 166 -20 166Government grants -4 750 -4 750Acquisition cost December 31, 2023 344 538 63 214 238 5 354 409 603 of which internally generated 194 487 194 487 Customer Re-aquired Software contracts Patents rights Total Accumulated amortisation andimpairment losses January 1, 2022 107 528 27 030 238 5 354 140 151 of which internally generated 52 595 52 595Amortisation of internally generated assets 35 732 35 732Amortisation of other assets 23 582 15 947 39 529Impairment -377 -377Accumulated amortisation andimpairment losses December 31, 2022 166 842 42 600 238 5 354 215 034 of which internally generated 88 327 88 327Amortisation of internally generated assets 31 235 31 235Amortisation of other assets 43 855 15 554 59 410Translation differences 1 938 1 938Disposal -19 790 -19 790Accumulated amortisation andimpairment losses December 31, 2023 224 081 58 154 238 5 354 287 827 of which internally generated 119 562 119 562Carrying value as at January 1, 2022 102 737 36 184 138 921 of which internally generated 74 917 74 917Carrying value as at December 31, 2022 157 993 20 614 178 606 of which internally generated 71 503 71 503Carrying value as at December 31, 2023 120 457 5 060 125 516 of which internally generatedEstimated useful life and amortisation plan is as follows:Useful life5 years 5 years 5 years 1 yearAmortisation planstraight-line straight-line straight-line straight-lineThe development expenditures that do not meet the criteria for capitalisation are recognised as salary and personnel expenses and other operating expenses in profit and loss. The aggregate employee cost within software and product development, operations and support for 2023 which is not capitalized is NOK 143.5 million (2022: NOK 165,43 million).The Group has received government grants related to development of software of NOK 4,75 million in 2022 and NOK 4,75 million in 2023. The grants have been subtracted from the carrying amount of internally generated software.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__94": { "value": "The development expenditures that do not meet the criteria for capitalisation are recognised as salary and personnel expenses and other operating expenses in profit and loss. The aggregate employee cost within software and product development, operations and support for 2023 which is not capitalized is NOK 143.5 million (2022: NOK 165,43 million).", "dimensions": { "concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__102": { "value": "Note 14 - Other current assets (NOK 1,000)12/31/2023 12/31/2022Other prepayments 18 996 23 326Other current assets 4 721Total 23 716 23 326", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__99": { "value": "Trade receivables 181 829 195 764Provisions for bad debt -4 593 -5 413Public taxes and funds 6 383 7 353Other current receivables 96 1 022Total current trade and other receivables 183 716 198 727Deposits 2 252 1 680", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__97": { "value": "Other current receivables 96 1 022", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__100": { "value": "", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__101": { "value": "Movements in the provision for impairment of trade receivables2023 2022Opening balance provision for bad debt as at January 1 5 413 4 684Change in provision for the year 1 412 6 083Receivables written off during the year -2 246 -5 479Translation differences 14 125Closing balance provision for bad debt as at December 31 4 593 5 413", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__104": { "value": "Note 15 - Cash and cash equivalents (NOK 1,000)12/31/2023 12/31/2022Bank deposits 522 692 419 306Total cash and cash equivalents 522 692 419 306Restricted cashThese deposits are subject to regulatory restrictions and are therefore not available for general use.12/31/2023 12/31/2022Taxes withheld 6 515 9 119Total restricted cash 6 515 9 119As of December 31, 2023, NOK 4,815 is held as a bank guarantee at DNB bank for the lease contract with Mustad Eiendom AS regarding rental of offices in Lysaker.", "dimensions": { "concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__103": { "value": "Note 15 - Cash and cash equivalents (NOK 1,000)12/31/2023 12/31/2022Bank deposits 522 692 419 306Total cash and cash equivalents 522 692 419 306Restricted cashThese deposits are subject to regulatory restrictions and are therefore not available for general use.12/31/2023 12/31/2022Taxes withheld 6 515 9 119Total restricted cash 6 515 9 119As of December 31, 2023, NOK 4,815 is held as a bank guarantee at DNB bank for the lease contract with Mustad Eiendom AS regarding rental of offices in Lysaker.", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__105": { "value": "Note 16 - Share capital, shareholder information and dividend (NOK 1,000)The Parent Company\u2019s registered share capital as at December 31, 2023 was NOK 1,566 thousand, divided into 104,429,671 ordinary shares with a par value of NOK 0.015. All issued shares have equal voting rights. The parent company holds treasury shares of 2,842,867 making the presented share capital NOK 1,524 thousand.The Parent Company\u2019s registered share capital as at December 31, 2022 was NOK 1,566 thousand divided into 104,429,671 ordinary shares with a par value of NOK 0.015. All issued shares have equal voting rights. The parent company held treasury shares of 3,032,968 making the presented share capital NOK 1,521 thousand.", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__108": { "value": "2023", "decimals": 0, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:NOK/xbrli:shares" } }, "s10_notes__6__107": { "value": "treasury shares of 2,842,867 making the presented share capital NOK 1,524 thousand.The Parent Company\u2019s registered share capital as at December 31, 2022 was NOK 1,566 thousand divided into 104,429,671 ordinary shares with a par value of NOK 0.015. All issued shares have equal voting rights. The parent company held treasury shares of 3,032,968 making the presented share capital NOK 1,521 thousand. Development in the number of issued and outstanding sharesNumber of shares Share capital (1,000)(1,000)Outstanding at January 1, 2023 104 430 1 566Outstanding at December 31, 2023 104 430 1 566Treasury sharesNumber of shares (1,000)Outstanding at January 1, 2023 3 033Employee share scheme issue -190Outstanding at December 31, 2023 2 843", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__106": { "value": "Development in the number of issued and outstanding sharesNumber of shares Share capital (1,000)(1,000)Outstanding at January 1, 2023 104 430 1 566Outstanding at December 31, 2023 104 430 1 566", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__109": { "value": "Note 17 - Borrowings (NOK 1,000)Interest rate Year of maturity 12/31/2023 12/31/2022Loan from Innovasjon Norge3.70% 2024Other borrowings 2.0% 2026 2 190 16Total long-term debt 2 190 16Loan from Innovasjon Norge 3.70% 2023 4 000Other borrowings 132 77Total short-term debt 132 4 077The leasing liabilities are presented separately in note 10 - LeasesThe fair value of external borrowings does not materially differ from the carrying amount since interest payable is close to current market rates.Pledged as securityThe Group\u2019s loans to Innovasjon Norge are secured borrowings and were fully down paid in 2023. The Group did not have any assets pledged as collateral as of year ending 2023. The carrying amount of assets pledged as collateral in 2022 was NOK 219.4 million", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__83": { "value": "Note 17 - Borrowings (NOK 1,000)Interest rate Year of maturity 12/31/2023 12/31/2022Loan from Innovasjon Norge3.70% 2024Other borrowings 2.0% 2026 2 190 16Total long-term debt 2 190 16Loan from Innovasjon Norge 3.70% 2023 4 000Other borrowings 132 77Total short-term debt 132 4 077The leasing liabilities are presented separately in note 10 - LeasesThe fair value of external borrowings does not materially differ from the carrying amount since interest payable is close to current market rates.Pledged as securityThe Group\u2019s loans to Innovasjon Norge are secured borrowings and were fully down paid in 2023. The Group did not have any assets pledged as collateral as of year ending 2023. The carrying amount of assets pledged as collateral in 2022 was NOK 219.4 million", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__110": { "value": "Contract liabilities2023 2022Balance at January 1 231 004 202 302New contract liabilities 220 344 203 747Revenue recognised from liability opening balance-196 091 -175 045Balance at December 31 255 258 231 004For impairment of contract assets the simplified approach is used and the expected loss provision is measured at the estimate of the lifetime expected credit losses. The provision matrix is disclosed in note 21 - Financial risk. In accordance with the provision matrix no loss allowance or impairment is recognised for contract assets in 2023 or 2022.Contract costs2023 2022Balance at January 1 285 778 262 076Additions 86 860 74 581Depreciated during the year -83 944 -69 583Translation differences10 307 18 705Balance at December 31 299 000 285 778", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__111-1": { "value": "Note 19 - Categories of financial assets and financial liabilities (NOK 1,000)Financial assets12/31/2023 12/31/2022Financial assets at amortised cost:Cash & cash equivalents (note 15) 522 692 419 306Trade and other receivables (note 13) 183 716 198 727Total 706 407 618 033Financial liabilities12/31/2023 12/31/2022Liabilities at amortised cost:Borrowings (note 17) 2 323 4 093Trade and other payables 130 374 119 665Lease liabilities (note 10) 47 495 83 999Total 180 192 207 757Non-financial assets and liabilities are excluded from the table.Note 20 - Reconciliation for liabilities arising from financing activities (NOK 1,000)The table below details changes in the Group\u2019s liabilities arising from financing activities, including both cash and non-cash changes. Liabilities arising from financing activities are those for which cash flows were, or future cash flows will be, classified in the Group\u2019s consolidated cash flow statement as cash flows from financing activities.Liabilities from financing activitiesBorrowings Lease liabilities Total(Note 17)(Note 10)Net debt as of January 1, 2022 6 000 113 527 119 527Financing cash flows -1 907 -27 399 -29 306New leases/lease modifications -3 657 -3 657Foreign exchange adjustments 1 529 1 529Other changes- Interest expense -900 -3 106 -4 006- Interest payments 900 3 106 4 006Net debt as of December 31, 2022 4 093 83 999 88 092Financing cash flows -4 000 -21 737 -25 737New leases/lease modifications -15 244 -15 244Foreign exchange adjustments 543 477 1 021Other changes- Interest expense-484 -2 020 -2 505- Interest payments 484 2 020 2 505Transfer between accounts* 1 686 1 686Net debt as December 31, 2023 2 323 47 495 49 818Net debtLiabilities from financing activities 88 092Cash/Bank overdraft 419 306Net debt as of December 31, 2022 -331 213Liabilities from financing activities 49 314Cash/Bank overdraft 522 692Net debt as of December 31, 2023 -473 378The group does not have any financial investments with cash flows included in fianancial activities in the cash flow. * This amount was in 2022 presented as other provisions and was reclassified to borrowings in 2023", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__112": { "value": "Note 21 - Financial risk (NOK 1,000)", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__113": { "value": "Credit riskThe group is exposed to credit risk from its operating activities, primarily trade receivables. The group does not have a specific procedure for assessing credit risks for its customers before transactions are entered, and mainly does business with large channel partner organizations. The group does not have significant credit risk associated with a single counterparty.Most customer contracts are with channel partners, of which Pexip has multiple engagements. Such contracts are mainly invoiced yearly or monthly in advance with standard payment terms of 30 days. The group has a collection policy to ensure overdue invoices are taken action.The group applies the IFRS 9 simplified approach to measuring expected credit losses, using a lifetime expected loss allowance for all trade receivables. Trade receivables have been grouped based on shared credit risk characteristics and the days past to measure the expected credit losses. The historical loss rate has been adjusted to reflect current and forward-looking information on macroeconomic factors affecting the ability of the customers to settle the receivables. The amount of expected credit loss is updated at each reporting date to reflect changes in credit risk since the initial recognition of the respective financial instrument.The following table provided information about the exposure to credit risk and expected credit losses for trade receivables and contract assets as of December 31 in 2023 and 2022:For the year ended December 31, 20231-30 days 31-60 days 61-90 days More than 90 Trade receivables and contract assets Current past duepast duepast duedays past dueLoss rate 1.35% 1.80% 2.25% 3.00% 8.74%For the year ended December 31, 20221-30 days 31-60 days 61-90 days past More than 90 Trade receivables and contract assets Current past duepast dueduedays past dueLoss rate 1.35% 1.80% 2.25% 3.00% 8.74%The Group has historically had limited losses on receivables. However, the Group has considered the uncertainty in the market and the time value of money from later payments.In addition to using the simplified approach, the Group has made an individual assessment of trade receivables above a particular value and adjusted the provision with specific allowances for doubtful accounts. The Group writes off a trade receivable when there is information indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery, e.g., when the debtor has been placed under liquidation or has entered bankruptcy proceedings, or when the trade receivables are over two years past due, whichever occurs earlier. None of the trade receivables that have been written off is subject to enforcement activities. Cash and cash equivalents: The counterparts for the group\u2019s cash deposits are large banks considered to be solid. The group assesses no material credit risks associated with these deposits.", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__115": { "value": "Market riskForeign exchange ratesThe group operates globally and is exposed to foreign exchange risk regarding trade receivables, payables, and cash and cash equivalent holdings. Foreign exchange risk arises from future commercial transactions and recognized assets and liabilities denominated in a currency that is not the functional currency of the group and the value of cash holdings in other currencies than the functional currency, which is NOK.The carrying NOK amounts of the Group\u2019s financial assets and liabilities at the reporting date are as follows (in 1,000 NOK):Financial assets2023 % of total 2022 % of totalNOK 269 928 38.2 % 255 239 41.3 %USD 358 313 50.7 % 233 553 37.8 %GBP 45 654 6.5 % 60 474 9.8 %Other currencies 32 512 4.6 % 68 766 11.1 %Total 706 407 100% 618 033 100%Financial liabilities2023 % of total 2022 % of totalNOK 83 596 46.5 % 124 064 59.7 %USD 18 263 10.1 % 19 140 9.2 %GBP 16 954 9.4 % 27 228 13.1 %Other currencies 61 379 34.0 % 37 326 18.0 %Total 180 192 100% 207 757 100%Sensitivity analysis Based on the net exposure of the Group, the hypothetical impact of exchange rate fluctuations on the profit before tax for the year is as follows if all other variables are held constant:2023 2023 2022 2022Foreign Effect on profit before Effect on Equity Effect on profit before Effect on Equity currencytax (in NOK 1,000)(in NOK 1,000)tax (in NOK 1,000)(in NOK 1,000)USD 23 803 18 567 15 009 13 100 GBP 2 009 1 567 2 327 2 031", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__114": { "value": "Liquidity riskThe group monitors liquidity centrally across the group. It is the group\u2019s strategy to have sufficient cash and cash equivalents to at any time fund operations and investments according to the company\u2019s strategic plans. The group monitors its liquidity risk through a short-term and a long-term liquidity forecast to manage the target of a minimum position of cash imposed by the Board of Directors.The group\u2019s financial liabilities are mainly traded payables. In addition, the group has a smaller loan in Pexip Belgium and multi-year leases on offices and IT equipment.Maturities of financial liabilitiesThe tables below analyse the Group\u2019s financial liabilities into relevant maturity groupings based on their contractual maturities. The amounts disclosed in the table are the contractual undiscounted cash flows. The maturity profile of the Group\u2019s leasing liabilities can be found in note 10.For the year ended December 31, 2023Current Non-current1-6 months 6-12 months 1-2 years 2-5 years Later than 5 (NOK 1,000)yearsBorrowings 132 2 190Trade and other payables 130 119Total liabilities 130 251 2 190For the year ended December 31, 2022Current Non-current1-6 months 6-12 months 1-2 years 2-5 years Later than 5 (NOK 1,000)yearsBorrowings 1 074 1 055 2 050Trade and other payables 119 665Total liabilities 120 740 1 055 2 050", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__117": { "value": "Note 22 - Capital management (NOK 1,000)The Group\u2019s objectives for capital management are to ensure that it maintains sufficient free liquidity with regards to cash and cash equivalents to support its business and obligations and have enough flexibility to invest in attractive investment opportunities. The group manages its capital structure, considering changes in economic and actual conditions and the development of its underlying business.The Group has a international cash pool to improve the capital management and optimize liquidity management across entities.In 2023, the Group established a dividend policy where it aims to distribute 50-100% of the free cash flow generated in the previous calendar year as a dividend. In addition, the Board of Directors has recommended a extraordinary dividend of NOK 0.5 per share recognizing that the Group has excess liquidity. The total dividend which is proposed for the Annual General Meeting is NOK 1.1 per share excluding shares held by Pexip Holding ASA, for a total of NOK 111.75 million, and will be distributed in Q2 2024 pending shareholder approval.", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__119-1": { "value": "Note 24 - Share-based paymentsPexip has two share-based compensation programs offered to employees: stock options and restricted stock units (RSUs). In 2023, Pexip provided a new grant of options to key employees, as well as a new grant to management. The options granted to key employees vest with 1/3 in December 2024, 1/3 in December 2025 and 1/3 in December 2026. The options granted to management vest on the same schedule. The only vesting criteria is continued employment and all unvested options will be forfeited when the employee terminates the employment contract with Pexip. Legacy stock option programs (granted prior to 2022) vest over a period of four years and fully vest, at earliest, in 2023 and at latest during 2025. Options expire 5 years after grant date \u2013 at earliest in 2024 and latest in 2026. Exercise windows for stock options are currently offered once annually, to employees and are typically conditional upon active employment at the time of exercise. For RSUs granted in 2023, the share price at grant date is used as the basis for calculation of RSUs, and RSUs vest in the third year after grant date.Options2023 2023 2022 2022Weighted average Weighted average exercise price Numberexercise price NumberOutstanding at January 1 26,14 5 252 950 54,81 5 131 938 Granted during the year 19,65 2 285 000 17,28 3 940 000Converted during the year -10 000 N/A -2 012 725Forfeited during the year 28,04 -860 000 38,32 -1 784 188Exercised during the year 14,50 -7 500 14,50 -16 200Expired during the year 14,50 -5 875Outstanding at December 31 23,63 6 660 450 26,14 5 252 950RSUs2023 2023 2022 2022Number NumberOutstanding at January 1 1 234 532 93 780Granted during the year 1 310 000 973 725Converted 4 000 811 490Forfeited during the year -287 195 -644 463Adjusted 4 500Exercised during the year -193 912Expired during the year -1 600Outstanding at December 31 2 070 325 1 234 532The exercise price of options outstanding at December 31, 2023 ranged beetween NOK 14,5 and NOK 100 (2022: NOK 14,5 and NOK 100) and their weighted average contractual life was 2.85 years (2022: 3.1 years). Weighted average contractual life for RSUs outstanding at December 31, 2023 was 1.97 years (2022: 1.99 years).Of the total number of options outstanding at December 31, 2023 1 333 225 (2022: 1 131 175) had vested and were excercisable (Weighted average exercise price of NOK 36.40). No RSUs were vested at December 31, 2023.The weighted average fair value of each option granted during the year was NOK 6.86 (2022: NOK 4.69). The weighted average fair value of each RSU granted during the year was NOK 13.02 (2022: NOK 31.57).The total expense recognised for the period arising from equity-settled share-based payment transactions was NOK 36.4 million (2022: NOK 25.1 million).The following information is relevant in the determination of the fair value of instruments granted during the year.Options2023 2022Option pricing model usedBlack-Scholes/Monte Carlo Black ScholesWeighted average share price at grant date (in NOK) 20 16Excercise price (in NOK) 20 17Weighted average expected life (in days) 1 230 1 675Expected volatility 38.19% 41.69%Risk-free interest rate 3.91% 2.57%The expected volatility is based on the volatility for a selection of comparable listed peer companies.As there are no expected dividend payments, the dividend parameter is not included in the calculations.RSUs 2023 2022Weighted average share price at grant date (in NOK) 13 37Weighted average expected life (in days) 1 095 986Note 25 - Government grants (NOK 1,000)The Group is eligible for government grants of NOK 5.9 million in 2023 (2022: NOK 7.3 million). Of the total amount 4.8 million has been deducted from the carrying amount of other intangible assets. (software), while the remaining amount of NOK 1.1 million has been deducted from salary cost for the R&D department in Pexip Ltd.In 2023 government grants relate to a SkatteFUNN project in Pexip AS, and an R&D project in Pexip Ltd. In the SkatteFUNN project Pexip aims to develop the next generation video conferencing system, lifting the experience to new levels for both users and administrators. This project aims to improve the usability compared to solutions in the market today. The R&D project in Pexip Ltd relates to Infinity configuration management enhancement and Epic Healthcare integration.All conditions and contingencies attached to the grants have been fulfilled.", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__121": { "value": "Note 26 - List of subsidiariesThe consolidated financial statements for 2023 include the following subsidiaries: CompanyRegistered office Voting share Ownership sharePexip ASOslo, Norway 100% 100%Pexip Ltd. Berkshire, England 100% 100%Pexip Inc. Virginia, USA 100% 100%Pexip Australia Pty Ltd Sydney, Australia 100% 100%Pexip Singapore Pte Ltd Singapore, Singapore 100% 100%Pexip Japan GK Tokyo, Japan 100% 100%Videxio Asia Pacific Ltd. Kuala Lumpur, Malaysia 100% 100%Pexip France SAS Neuilly-sur- Seine, France 100% 100%Pexip Germany GmbH D\u00fcsseldorf, Germany 100% 100%Pexip Netherlands B.V.Utrecht, Netherlands 100% 100%Pexip Belgium NV Ghent, Belgium 100% 100%Pexip Italy S.R.L. Milan, Italy 100% 100%Pexip Spain SL Madrid, Spain 100% 100%The consolidated financial statements for 2022 include the following subsidiaries: CompanyRegistered office Voting share Ownership sharePexip ASOslo, Norway 100% 100%Pexip Ltd. Berkshire, England 100% 100%Pexip Inc. Virginia, USA 100% 100%Pexip Australia Pty Ltd Sydney, Australia 100% 100%Pexip Singapore Pte Ltd Singapore, Singapore 100% 100%Pexip Japan GK Tokyo, Japan 100% 100%Videxio Asia Pacific Ltd. Kuala Lumpur, Malaysia 100% 100%Pexip France SAS Neuilly-sur- Seine, France 100% 100%Pexip Germany GmbH D\u00fcsseldorf, Germany 100% 100%Pexip Netherlands B.V. Utrecht, Netherlands 100% 100%Pexip Belgium NV Ghent, Belgium 100% 100%", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__122": { "value": "Note 27 - Transactions with related partiesThe Group\u2019s related parties include Parent Company and subsidiaries, as well as members of the Board, Management Group and their related parties. Related parties also include companies in which the individuals mentioned above have significant influence.The Group is not part in any agreements, deals, or other transactions in which the Parent company\u2019s Board of Directors or Management Group had a financial interest, except for transactions following from the employment relationship. Remuneration to key personnel is disclosed in the remuneration report.Transactions and balances between the parent company and its subsidiaries, and between the subsidiaries, have been eliminated on consolidation, and are not disclosed in this note. The Group does not have other transactions with related parties, except for remuneration for their role in the Group.", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "s10_notes__6__123": { "value": "Note 28 - Events after the balance sheet dateNo events that have significantly affected or may significantly affect the operations of the Group have occurred after December 31, 2023.", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:549300S79JFZK79XBI07", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } } } }