Olink Holding AB (OLK) 20-F 17 Mar 22 2021 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2021shares
Document Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2021
Entity File Number	001-40277
Entity Registrant Name	Olink Holding AB (publ)
Entity Incorporation, State or Country Code	V7
Entity Address, Address Line One	Uppsala Science Park
Entity Address, City or Town	Uppsala
Entity Address, Country	SE
Entity Address, Postal Zip Code	751 83
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Document Accounting Standard	International Financial Reporting Standards
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Central Index Key	0001835539
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false
Auditor Name	Öhrlings PricewaterhouseCoopers AB
Auditor Location	Stockholm, Sweden
Auditor Firm ID	1419
Common Shares
Document Information [Line Items]
Title of 12(b) Security	Common Shares, quota value SEC 2.431906612358035 per share*
No Trading Symbol Flag	true
Security Exchange Name	NASDAQ
ADS
Document Information [Line Items]
Title of 12(b) Security	American Depositary Shares, each representing one common share, quota value SEC 2.431906612358035 per share
Trading Symbol	OLK
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	119,007,062
Business Contact [Member]
Document Information [Line Items]
Entity Address, Address Line One	Uppsala Science Park
Entity Address, City or Town	Uppsala
Contact Personnel Name	Oskar Hjelm, Chief Financial Officer
Entity Address, Country	SE
Entity Address, Postal Zip Code	751 83
City Area Code	+46 (0) 18
Local Phone Number	444 39 72
Contact Personnel Email Address	oskar.hjelm@olink.com
Other Address [Member]
Document Information [Line Items]
Entity Address State Or Province	MA
Entity Address, Address Line One	130 Turner St. Building 2, Suite 230
Entity Address, City or Town	Waltham
Contact Personnel Name	Olink Proteomics Inc.
Entity Address, Country	US
Entity Address, Postal Zip Code	02453
City Area Code	617
Local Phone Number	393-3933

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME - USD ($) $ in Thousands	2 Months Ended	12 Months Ended
	Mar. 07, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME
Revenue	$ 4,625	$ 94,973	$ 54,067	$ 41,693
Cost of goods sold	(1,254)	(36,764)	(17,456)	(13,018)
Gross profit	3,371	58,209	36,611	28,675
Selling expenses	(9,011)	(33,668)	(12,722)	(8,247)
Administrative expenses	(709)	(47,495)	(20,102)	(26,609)
Research and development expenses	(1,676)	(22,141)	(9,632)	(4,845)
Other operating income	310	443	475	363
Operating loss	(7,715)	(44,652)	(5,370)	(10,663)
Interest expense	(27)	(2,048)	(6,631)	(6,592)
Foreign exchange gain / (loss)	242	1,874	5,455	18
Other financial income / (expense)		(1,719)	(713)	(1,293)
Loss before tax	(7,500)	(46,545)	(7,259)	(18,530)
Income tax	(332)	8,206	479	652
Net loss for the period (Attributable to shareholders of the Parent)	(7,832)	(38,339)	(6,780)	(17,878)
Items that may be reclassified to profit or loss:
Exchange differences from translation of foreign operations	(408)	(37,659)	36,761	2,599
Other comprehensive income/(loss) for the, period, net of tax	(408)	(37,659)	36,761	2,599
Total comprehensive loss for the period, net of tax	(8,240)	(75,998)	29,981	(15,279)
Total comprehensive loss for the period (Attributable to shareholder of the Parent)	$ (8,240)	$ (75,998)	$ 29,981	$ (15,279)
Basic loss per share	$ (45.80)	$ (0.43)	$ (1.10)	$ (1.99)
Diluted loss per share	$ (45.80)	$ (0.43)	$ (1.10)	$ (1.99)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Non-current assets
Intangible assets	$ 308,124	$ 347,387
Property, plant and equipment	12,696	5,774
Right-of-use asset	8,778	4,684
Deferred tax assets	9,091	37
Other long-term receivables	422	133
Total non-current assets	339,111	358,015
Current assets
Inventories	28,940	20,826
Trade receivables	42,061	33,482
Other receivables	4,094	2,856
Prepaid expenses and accrued income	7,476	1,491
Cash at bank and in hand	118,096	8,655
Total current assets	200,667	67,310
TOTAL ASSETS	539,778	425,325
EQUITY
Share capital	30,964	27,224
Other contributed capital	506,008	257,774
Reserves	1,701	39,360
Accumulated losses	(62,997)	(24,658)
Total equity attributable to shareholders of the Company	475,676	299,700
Non-current liabilities
Lease liabilities	5,427	63,965
Deferred tax liabilities	27,092	33,193
Total non-current liabilities	32,519	97,158
Current liabilities
Lease liabilities	2,952	2,146
Accounts payable	8,668	6,658
Current tax liabilities	314	506
Other current liabilities	19,649	19,157
Total current liabilities	31,583	28,467
Total liabilities	64,102	125,625
TOTAL EQUITY AND LIABILITIES	$ 539,778	$ 425,325

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Share Capital	Other Contributed Capital	Reserves	Accumulated losses	Total
At beginning of the year at Dec. 31, 2018	$ 6	$ 9,716	$ (967)	$ 7,328	$ 16,083
Net loss for the period				(7,832)	(7,832)
Other comprehensive income for the Period			(408)		(408)
Total comprehensive loss for the Period			(408)	(7,832)	(8,240)
Shareholders' contributions		565
New share issue		8,417
Non-registered share capital		323
At ending of year at Mar. 07, 2019	6	19,021	(1,375)	(504)	17,148
At beginning of the year at Jan. 03, 2019	5				5
Net loss for the period				(17,878)	(17,878)
Other comprehensive income for the Period			2,599		2,599
Total comprehensive loss for the Period			2,599	(17,878)	(15,279)
Shareholders' contributions		48			48
New share issue	22,119	199,073			221,192
At ending of year at Dec. 31, 2019	22,124	199,121	2,599	(17,878)	205,966
Net loss for the period				(6,780)	(6,780)
Other comprehensive income for the Period			36,761		36,761
Total comprehensive loss for the Period			36,761	(6,780)	29,981
Shareholders' contributions	5,100	58,653			63,753
New share issue	5,100	58,653
At ending of year at Dec. 31, 2020	27,224	257,774	39,360	(24,658)	299,700
Net loss for the period				(38,339)	(38,339)
Other comprehensive income for the Period			(37,659)	0	(37,659)
Total comprehensive loss for the Period			(37,659)	(38,339)	(75,998)
New share issue	3,740	245,543			249,283
Share based compensation program		2,691			2,691
At ending of year at Dec. 31, 2021	$ 30,964	$ 506,008	$ 1,701	$ (62,997)	$ 475,676

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	2 Months Ended	12 Months Ended
	Mar. 07, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating activities
Loss before tax	$ (7,500)	$ (46,545)	$ (7,259)	$ (18,530)
Adjustments reconciling loss before tax to operating cash flows:
Depreciation and amortization	221	15,802	12,540	9,157
Net finance expense/(income)	(215)	1,893	1,889	7,867
Loss on sale of assets	(236)	502		(163)
Share based payment expense		2,524
Changes in working capital:
(Increase) in inventories	(401)	(10,158)	(5,978)	(2,798)
(Increase)/Decrease in accounts receivable	8,910	(12,172)	(11,889)	(13,376)
(Increase)/Decrease in other current receivables	(9,825)	(6,105)	(911)	8,616
Increase/(Decrease) in trade payables	(254)	3,014	3,738	224
Increase/(Decrease) in other current liabilities	6,457	2,039	11,146	(6,890)
Interest received	242	98		7
Interest paid	(8)	(2,312)	(4,726)	(5,154)
Tax received/(paid)	(33)	(2,266)	(5,339)	15
Cash flow used in operating activities	(2,642)	(53,687)	(6,789)	(21,025)
Investing activities
Purchase of intangible assets		(4,325)	(7,791)	(9)
Purchase of property, plant and equipment	(125)	(10,482)	(3,460)	(689)
Proceeds from sale of property, plant and equipment		144
Acquisition of subsidiaries, net of cash acquired			(4,593)	(289,195)
Decrease/(Increase) in other non-current financial assets	(64)	(297)	2	(63)
Cash flow used in investing activities	(189)	(14,960)	(15,842)	(289,956)
Financing activities
Proceeds from issue of share capital	8,740	264,706	19,155	221,197
Share issue costs		(19,484)
Proceeds from interest-bearing liabilities		2,312	7,930	93,278
Repayment of interest-bearing loans and borrowings		(65,627)
Payment of principal portion of lease liability	(23)	(2,845)	(1,490)	(749)
Received from shareholder contributions	565			48
Cash flow from financing activities	9,282	179,062	25,595	313,774
Net cash flow during the period	6,451	110,415	2,964	2,793
Cash at bank and in hand at the beginning of the Period	3,524	8,655	6,162
Net foreign exchange difference	212	(975)	(471)	3,369
Cash at bank and in hand at the end of the period	$ 10,187	$ 118,096	$ 8,655	$ 6,162

General information

General information	12 Months Ended
	Dec. 31, 2021
General information
General information	1. On January 27, 2021, Knilo HoldCo AB was registered as a Swedish public limited company and renamed as Olink Holding AB (publ) (the "Company). The Company was incorporated under the laws of Sweden as a limited company (“Aktiebolag”) and has its registered office in Uppsala, Sweden. The Company was incorporated on January 4, 2019 for the purpose of the acquisition of Olink Proteomics Holding AB (“Olink Holdings”) and its subsidiaries. The Company business address is Uppsala Science Park, Dag Hammarskjölds väg 54A, SE-752 37 UPPSALA, Sweden. The Company has ten wholly owned subsidiaries. On March 29, 2021, the Company completed its initial public offering (the "Offering") in the United States. The Company's American Depositary Shares ("ADSs") were approved for listing on The Nasdaq Global Market ("Nasdaq") under the trading ticker symbol "OLK". Trading on Nasdaq commenced at market open on March 25, 2021. The ultimate parent of the Company is Summa Equity Holding AB, Stockholm, Sweden. The Company provides management services to its subsidiaries. The Company owns 100% of Knilo BidCo AB, a company incorporated on 4 January 2019 under the laws of Sweden and has its registered office in Uppsala, Sweden. Knilo BidCo AB owns 100% of Olink Holdings. Knilo BidCo AB was used to acquire Olink Holdings on March 7, 2019 (“Olink Acquisition”). The ultimate parent of the Company is Summa Equity Holding AB, Stockholm, Sweden. When referring to the Company and its subsidiaries collectively, they are referred to herein as the “Successor”. The Company's financial statements were authorized for issue by the Board of Directors on March 16, 2022. Predecessor Until March 7, 2019 Olink Holdings’ parent entity was Nexttobe AB, Uppsala, Sweden. The ultimate parent of Olink Holdings was Lyftet Holding BV, Amsterdam, The Netherlands. When referring to Olink Proteomics Holding AB and its subsidiaries collectively, they are referred to herein as the “Predecessor”. Successor and Predecessor When referring to the Successor and Predecessor equally, they are referred to herein as “the Companies”. The Companies develop, produce, market and sell biotechnological products and services along with thereof related activities.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Significant Accounting Policies
Significant Accounting Policies	2. Significant Accounting Policies The principal accounting policies applied in the preparation of these Successor and Predecessor consolidated financial statements are set out below. These policies have been consistently applied to the consolidated financial statements for all periods presented, unless otherwise stated. Unless otherwise stated, all amounts are in thousands of U.S. Dollars. 2.1 Basis of preparation The Successor consolidated financial statements, comprise the consolidated balance sheet of Successor as of December 31, 2021 and 2020; the related consolidated statements of income and other comprehensive income, consolidated statements of changes in equity and consolidated statements of cash flows for the year ended December 31, 2021 and 2020, for the period from January 4, 2019 (date of incorporation) through December 31 2019 (the “Successor Consolidated Financial Statements”). The Predecessor consolidated financial statements, comprise the consolidated statement of income and other comprehensive income, consolidated statement of changes in equity, and consolidated statement of cash flows for the period from January 1, 2019 through March 7, 2019 (the “Predecessor Consolidated Financial Statements”). The Predecessor Consolidated Financial Statements and the Successor Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). As a result of the Olink Acquisition on March 7, 2019, Successor carries forward and continues to operate the Predecessor business as of that date. The Successor and Predecessor consolidated financial statements have been prepared with a “black line presentation”, whereby a vertical black line separates the Successor and the Predecessor consolidated financial statements. In addition, relevant footnotes have been presented for the Successor and Predecessor with the “black line presentation” to distinctly highlight the periods pre and post-acquisition and their lack of comparability. The preparation of consolidated financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the respective accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in note 3. The Predecessor adopted IFRS as of January 1, 2018 and the Successor adopted IFRS from January 4, 2019, the date of its inception. As such, IFRS 1, First Time Adoption of IFRS disclosure requirements are not presented in the Successor or Predecessor consolidated financial statements. Furthermore, the Predecessor also adopted IFRS 16 as of January 1, 2018 as required by IFRS 1. Successor and Predecessor New and amended standards and interpretations The following amendments can be applied for the first time in the annual reporting period commencing January 1, 2021: ● Covid-19-Related Rent Concessions – amendments to IFRS 16, and ● Interest Rate Benchmark Reform – Phase 2 – amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16. The amendments listed above did not have any impact on the amounts recognized in the current period and are not expected to significantly affect future periods. New and amended standards not yet effective The following new accounting standards, amendments to accounting standards and interpretations have been published but are not mandatory for December 31, 2021 reporting periods and have not been early adopted by the Company. • Reference to the Conceptual Framework – amendments to IFRS 3, • Property, Plant and Equipment - Proceeds before Intended Use– amendments to IAS 16, • Onerous Contracts - Cost of Fulfilling a Contract - amendments to IAS 37, • Annual Improvements to IFRS Standards 2018-2020– amendments to IFRS 1, IFRS 9, IFRS 16, and IFRS 41 These standards, amendments or interpretations are not expected to have a material impact on the entity in the current or future reporting periods and on foreseeable future transactions. 2.2 Basis of consolidation The Successor and Predecessor consolidated financial statements comprise the financial statements of the Companies and its subsidiaries each period presented. Control is achieved when the Companies are exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Such subsidiaries are consolidated from the date on which control is transferred to the Companies and are deconsolidated from the date that control ceases. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the period are included in the consolidated financial statements from the date the Companies gain control until the date the Companies ceases to control the subsidiary. A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. Intra-group balances and transactions, and any unrealized income and expenses arising from intra-group transactions, are eliminated. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment. The accounting principles for subsidiaries have been changed, where applicable, to ensure a consistent application of the Companies’ accounting principles. 2.3 Significant Accounting Policies i. Business combinations Business combinations are accounted for using the acquisition accounting method. Consideration transferred, identifiable assets and liabilities assumed are measured at fair value at acquisition date. Where the consideration transferred, together with any noncontrolling interest, exceeds the fair value of the assets acquired and liabilities assumed, the excess is recorded as goodwill. The costs of effecting an acquisition are charged to the consolidated statement of income in the period in which they are incurred. Goodwill is capitalized as a separate item in the case of subsidiaries and as part of the cost of investment in the case of joint ventures and associates. Goodwill is denominated in the currency of the operation acquired. ii. Foreign currency translation Functional and presentation currency The Successor and Predecessor consolidated financial statements are presented in U.S. Dollars. For each subsidiary, the Companies determine the functional currency and items included in the financial statements of each subsidiary are measured using that functional currency. In all cases the functional currency of a subsidiary is that of the primary country of operations of that subsidiary. The Companies use the direct method of consolidation and on disposal of a foreign operation, the gain or loss that is reclassified to profit or loss reflects the amount that arises from using this method. Transactions and balances Foreign currency transactions of the Companies are translated into the functional currency using the exchange rates prevailing on the transaction dates. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rates of exchange at the reporting date. Non-monetary assets and liabilities measured in terms of historic cost in a foreign currency are translated into the functional currency using the exchange rates prevailing on the initial transaction dates. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates prevailing on the date when the fair value is determined. Differences arising on settlement or translation of monetary items are recognized in the consolidated statement of income. Translation of foreign subsidiaries The results and the financial position for all the Companies’ foreign subsidiaries with a functional currency other than the U.S. Dollar are translated into U.S. Dollars, as follows: ● Assets and liabilities at each balance sheet date are translated using the exchange rates prevailing at that balance sheet date; ● Period income statements are translated using the average exchange rate prevailing at the corresponding month; ● Exchange differences arising on translation for consolidation are recognized in Other Comprehensive Income (“OCI”). On disposal of a foreign operation, the component of OCI relating to that particular foreign operation is reclassified to profit or loss; and ● Goodwill and fair value adjustments arising from the acquisition of foreign operations are treated as assets and liabilities in these operations and are translated to the exchange rate at the balance sheet date. iii. Revenue recognition The Companies receive revenue from contracts with customers from the sale of its products in the form of kits and from services. The companies also provide custom development services. Value added tax and other sales taxes are excluded from revenue. Kit and Services Revenue from the sale of kits is recognized at the point in time when control of the products has transferred to the customer according to the shipping terms. Revenue from the services is also recognized at the point in time that the results of the analysis are transferred electronically to the customer. The majority of the above contracts relate to sales orders containing single bundled performance obligations for the delivery of kits or the performance of services at fixed prices. Contracts with customers do not contain variable consideration. The Companies do not usually accept returns or give rebates. Revenue is not recognized in full until it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur. The average duration of a sales order is less than 1 month. Custom development services Revenue from the performance of custom development services is recognized over time since control is transferred to the customer based on the extent of progress towards completion of the obligation. These contracts contain a single bundled performance obligation being the provision of custom development services of panels. Custom development projects are quoted at fixed process and extend over several months. The Companies generally use an input method to determine the progress completed of custom development service arrangements because there is a direct relationship between the effort (i.e. based on costs incurred against expected total costs) and the transfer of service to the customer. The average duration of a service contracts is less than 12 months. iv. Research and development Expenditure on research activities is recognized in profit or loss as incurred. ​ Development expenditure is capitalized only if the expenditure can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable and the Companies intend to and has sufficient resources to complete development and to use or sell the asset. Otherwise, it is recognized in profit or loss as incurred. Subsequent to initial recognition, development expenditure is measured at cost less accumulated amortization and any accumulated impairment losses. ​ Amortization begins from the time the asset is ready for use. Depreciation is made on a straight-line basis over the useful life. The useful life is determined when the development project is finished and is estimated to 5 years. ​ v. Legal and other disputes Provision is made for the anticipated settlement costs of legal or other disputes against the Companies where an outflow of resources is considered probable and a reliable estimate can be made of the likely outcome. vi. Leases The Companies recognize right of use assets under lease arrangements in which it is the lessee. Rights to use assets owned by third parties under lease agreements are capitalized at the inception of the lease and recognized on the consolidated balance sheet. The corresponding liability to the lessor is recognized as a lease obligation within current and non-current liabilities. The carrying amount is subsequently increased to reflect interest on the lease liability and reduced by lease payments. Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. Non-lease components are accounted for separately from the lease components. At the commencement date of the lease, the Companies recognize lease liabilities measured at the present value of lease payments to be made over the lease term. Lease payments do not include variable lease payments, which are expensed as incurred unless they depend on an index or rate. In calculating the present value of lease payments, the Companies use their incremental borrowing rate (“IBR”) at the lease commencement date because the interest rate implicit in the lease is not readily determinable. The IBR is calculated at the rate of interest at which the Companies would have been able to borrow for a similar term and with a similar security to obtain a similar asset in a similar market. If modifications or reassessments occur, the lease liability and right of use asset are re-measured. Right-of-use assets are generally depreciated over the shorter of the asset’s useful life and the lease term on a straight-line basis. If the Companies are reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the underlying asset’s useful life. Payments associated with short-term leases and leases of low-value assets are recognized on a straight-line basis as an expense in profit or loss. vii. Intangible assets Goodwill Goodwill is stated at cost less impairments. Goodwill is deemed to have an indefinite useful life and is tested for impairment at least annually. Other intangible assets Intangible assets are stated at cost less provisions for amortization and impairments. Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Licenses separately acquired or acquired as part of a business combination are amortized over their estimated useful lives, using the straight-line basis, from the time they are available for use. Customer relationships and technology acquired as part of a business combination are amortized over their estimated useful lives, using the straight-line basis. Brands acquired as part of a business combination are deemed to have indefinite useful lives. The acquired brands are well-established within the industry, as evidenced by continued demand from and collaboration with blue chip research institutions. Further, the business is expected to operate under these brands for the foreseeable future, thus supporting the indefinite classification. These intangible assets are not amortized, but are tested for impairment annually, either individually or at the cash- generating unit level. The assessment of indefinite life is reviewed annually to determine whether the indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite is made on a prospective basis. Licenses and customer relationships have estimated useful lives of 10 years and research and development technology have estimated useful lives of 15 years. Asset lives are reviewed, and where appropriate adjusted, annually. viii. Property, plant and equipment Property, plant and equipment (PP&E) includes leasehold improvements; plant and machinery; furniture fittings and equipment; and assets under construction. PP&E is stated at the cost of purchase or construction, less provisions for depreciation and impairment. Depreciation is calculated to write off the cost less residual value of PP&E, excluding freehold land, using the straight-line basis over the expected useful life. Residual values and lives are reviewed, and where appropriate adjusted annually. The normal expected useful lives of the major categories of PP&E are: ​ ​ ​ ● Leasehold improvements 5 years ● Plant and machinery 5 years ● Furniture, fittings and equipment 5 years ​ On disposal of PP&E, the cost and related accumulated depreciation and impairments are removed from the balance sheet and the net amount, less any proceeds, is recognized in the income statement. ix. Impairment of non-current assets The carrying values of all non-current assets are reviewed for impairment, either on a stand-alone basis or as part of a larger cash generating unit (“CGU”), when there is an indication that the assets might be impaired. Additionally, goodwill, intangible assets with indefinite useful lives and intangible assets which are not yet available for use are tested for impairment annually. Any provision for impairment is charged to the income statement. Impairments of goodwill are not reversed. Impairment losses on other non-current assets are only reversed if there has been a change in estimates used to determine recoverable amounts and only to the extent that the revised recoverable amounts do not exceed the carrying values that would have existed, net of depreciation or amortization, had no impairments been recognized. x. Inventories Inventories are stated at the lower of cost and net realizable value. Cost comprises direct materials, direct labor and an appropriate proportion of variable and fixed overhead expenditure, the latter being allocated on the basis of normal operating capacity. Cost is generally determined on a first in, first out basis. xi. Financial instruments Financial assets Financial assets are measured at amortized cost, fair value through other comprehensive income (“FVTOCI”) or fair value through profit or loss (“FVTPL”). The measurement basis is determined by reference to both the business model for managing the financial asset and the contractual cash flow characteristics of the financial asset. For financial assets other than trade receivables a 12-month expected credit loss (“ECL”) allowance is recorded on initial recognition. If there is subsequent evidence of a significant increase in the credit risk of an asset, the allowance is increased to reflect the full lifetime ECL. If there is no realistic prospect of recovery, the asset is written off. ECLs are recognized in the income statement on financial assets measured at amortized cost and at fair value through other comprehensive income apart from equity investments. Trade receivables Trade receivables are measured at amortized cost and are carried at the original invoice amount less ECL allowance. The ECL allowance is calculated using a provision matrix applying lifetime historical credit loss experience to the trade receivables. The expected credit loss rate varies depending on whether, and the extent to which, settlement of the trade receivables is overdue, and it is also adjusted as appropriate to reflect current economic conditions and estimates of future conditions. For the purpose of determining credit loss rates, customers are classified into groupings that have similar loss patterns. The key drivers of the loss rate are the nature of the business, location and type of customer. When a trade receivable is determined to have no reasonable expectation of recovery it is written off against any ECL allowance available and then to the income statement. Subsequent recoveries of amounts previously provided for or written off are credited to the income statement. Long-term receivables are discounted where the effect is material. Cash and cash equivalents Cash and cash equivalents are measured at amortized cost and includes cash on hand and deposits held at call with financial institutions. anies have various defined contribut Bank overdrafts are shown within interest-bearing liabilities in current liabilities in the consolidated balance sheet. Financial liabilities Financial liabilities are classified, at initial recognition, as financial liabilities at FVTPL, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. All financial liabilities are recognized initially at fair value and, in the case of loans, borrowings and payables, net of directly attributable transaction costs. The Companies’ financial liabilities include trade and other payables, loans and borrowings (including bank overdrafts). Loans and borrowings are subsequently carried at amortized cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognized as a charge to the consolidated statements of other comprehensive income over the period of the relevant borrowing. Derivative financial instruments The Companies do not currently enter into derivative financial instruments. ​ Derecognition of financial assets and liabilities ​ Financial assets are derecognized when the contractual rights to the cash flows from the financial asset expire or transfer and the Group has transferred substantially the risks and rewards of ownership. Financial liabilities are derecognized when the contractual obligations are discharged or cancelled or expired. When the terms of a financial liability are modified, and not derecognized, the gain or loss is recognized in the statement of income and other comprehensive income. The gain or loss is the difference between the original contractual cash flows and the modified cash flows discounted to the original effective interest rate. xii. Pension obligations The Companies operate defined-contribution plans for the benefit of its employees. The Companies’ contributions to defined contribution plans are expensed as incurred. xiii. Share-based payments ​ Share-based compensation benefits are provided to employees, consultants and directors via the Companies 2021 Incentive Award Plan, including stock options (ISO), restricted stock unit awards (RSU) and performance based restricted stock unit awards. Information relating to these schemes is set out in note 20. Stock options The fair value of options granted under the stock options program is recognized as an employee benefits expense, with a corresponding increase in equity. The total amount to be expensed is determined by reference to the fair value of the options granted and taking into consideration any impact from service conditions. The total expense is recognized over the vesting period of four years, which is the period over which the vesting conditions are to be satisfied. At the end of each period, the Company revises its estimates of the number of options that are expected to vest based on the service conditions. It recognizes the impact of the revision to original estimates, if any, in profit or loss, with a corresponding adjustment to equity. Restricted stock units Under the employee restricted stock units scheme, the RSU’s will vest during a four- year period and new shares will be issued when the RSU vest for no cash consideration. Over the vesting period, the market value of the RSU’s is recognized as an employee benefits expense, with a corresponding increase in equity. The total expense is recognized over the vesting period of four years, which is the period over which the vesting conditions are to be satisfied. At the end of each period, the Company revises its estimates of the number of options that are expected to vest based on the service conditions. It recognizes the impact of the revision to original estimates, if any, in profit or loss, with a corresponding adjustment to equity. xiv. Current and deferred income tax Current income tax is provided at the amounts expected to be paid, applying tax rates that have been enacted or substantively enacted by the balance sheet date. Deferred income tax results from temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred income tax assets are recognized to the extent that it is probable that future taxable profits will be available against which the temporary differences can be utilized. Deferred income tax based on temporary differences arising on investments in subsidiaries, associates and joint ventures, except where the timing of the reversal of the temporary difference can be controlled and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred income tax is provided using rates of tax that have been enacted or substantively enacted by the balance sheet date. Where an uncertain tax position is identified, management will make a judgement as to what the probable outcome will be, assuming the relevant tax authority has full knowledge of the situation. When an economic outflow is probable to arise, a provision is made for the best estimate of the liability. In estimating any such liability, the Companies applies a risk-based approach which accounts for the probability that the Companies would be able to obtain compensatory adjustments under international tax treaties. These estimates consider the specific circumstances of each dispute and relevant external advice. ​ xv. Government grants Government grants related to assets are initially recognized as deferred income at fair value if there is reasonable assurance that they will be received, and the Companies will comply with the conditions associated with the grant; they are then recognized in profit or loss as other income on a systematic basis over the useful life of the asset. ​ Grants that compensate the Companies for expenses incurred are recognized in profit or loss as other income on a systematic basis in the periods in which the expenses are recognized, unless the conditions for receiving the grant are met after the related expenses have been recognized. In this case, the grant is recognized when it becomes receivable.

Significant Accounting estimate

Significant Accounting estimates and judgements	12 Months Ended
	Dec. 31, 2021
Significant Accounting estimates and judgements
Significant Accounting estimates and judgements	3. Impact of Covid-19 The COVID-19 pandemic has adversely affected, and we expect will continue to adversely affect, elements of our business. COVID-19 has primarily disrupted the customer end of the supply chain, with our customers’ labs operating at reduced capacity for extended portions of our growth rate for 2020, in particular as customers have had issues accessing their labs. We have not seen any material cancellations in our pipeline; however, there have been delays as customers are pushing projects into the future. We are continuing to closely monitor how the pandemic and related response measures are affecting our business. Our production and manufacturing facilities are located in Uppsala, Sweden and Watertown, Massachusetts and we have not to date experienced any material disruptions to our production or supply of goods. We increased our inventory level in 2020 and 2021 in order to operate with a higher level of inventory than we have done historically. Although we have seen a reduction in demand due to the ongoing COVID-19 pandemic, we have not observed any significant changes in our underlying customer base, and we have been and will continue to serve our customers, even at reduced levels, until their activities return to normal. The gradual recovery of revenue we have seen compared with previous levels reflects the underlying factors affecting demand, including the easing of lockdown restrictions and the partial or full reopening of academic and biopharmaceutical research laboratories around the world. At December 31, 2021 we concluded there was no evidence of material changes to recoverability risk of business assets, including deferred tax assets and trade receivables. The preparation of the Companies’ consolidated financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures. Actual amounts and results could differ from those estimates. In the process of applying the Companies’ accounting policies, management has made the following judgements, which have the most significant effect on the amounts recognized in the consolidated successor and predecessor financial statements: 3.1 Successor On January 4, 2019 the Successor was established and on March 7, 2019 the Predecessor was acquired in a business combination. Management completed a purchase price allocation of the identified items of tangible and intangible property. Estimates were made about the future with respect to the deriving valuation models used to support the fair value of identifiable tangible and intangible property. Management used judgement in reviewing such models and allocating the purchase consideration to the assets acquired, liabilities assumed and resulting goodwill which is reflected in the Successor’s consolidated balance sheet. Furthermore, management used judgement to consider that subsequent to the business combination no impairment indicators existed that would result in the need to perform an impairment analysis. The annual impairment test required for goodwill and indefinite lived intangible assets was performed as of December 31, 2021 and as of December 31,2020. Significant judgement was required in making the estimates and assumptions pertaining to establishing the recoverable amount for impairment testing. The determination of the useful lives of acquired intangible and tangible property is a key estimate. Refer to sections vii and viii in Note 2 for further discussion of useful lives. Refer to Note 12.1 for discussion on impairment testing. 3.2 Successor and Predecessor At initial recognition and subsequent remeasurement, management estimates are made for the term applied in a lease contract. The outcome of these estimates may turn out not to match the actual outcome of the lease and may have an adverse effect on the right-of-use assets. Lease contracts may give the lessee the right to shorten or prolong a contract. Under such contracts management judgement of the lease term is required. In determining the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension option, or not exercise a termination option. Extension options (or periods after termination options) are only included in the lease term if the lease is reasonably certain to be extended (or not terminated). The Companies cannot readily determine the interest rate implicit in the lease, therefore, it uses its IBR to measure lease liabilities. The Companies estimate the IBR using observable inputs (such as market interest rates) when available and is required to make certain entity-specific estimates. 3.3 Successor and Predecessor The Companies have a process to determine whether development costs meet the criteria for capitalization. However, based on management’s judgement and the nature of the development activities, such criteria and in particular technical and economic feasibility is normally not met until the development phase is complete. Special projects, normally external, are capitalized if they meet the criteria to be recognized as an asset in the balance sheet.

Financial risk management

Financial risk management	12 Months Ended
	Dec. 31, 2021
Financial risk management
Financial risk management	4. 4.1 The Companies activities are subject to several financial risks: market risk (including exchange rate risk and interest rate risk), credit risk and liquidity risk. The Companies strive to minimize potential unfavorable effects from these risks on the Companies’ financial results. The aim of the Companies’ financial operations is to: ● Ensure that the Companies can meet their financial obligations timely ● Manage financial risks; and, ● Ensure a supply of necessary financing. The Companies’ risk management is predominantly controlled by senior management. Market risk - Currency risk (transaction risk) The Companies operate internationally and are exposed to foreign exchange risk where invoicing is made in a currency other than the functional currency, primarily the U.S. dollar. Mitigation of this risk occurs naturally by partially matching costs in the same foreign currency i.e. in U.S. Dollars and obtaining borrowings, as required, in U.S. dollars. The currency risk is monitored on a regular basis. The Companies have not entered into derivative currency arrangements. Exposure The Company’s exposure to currency risk from monetary assets and liabilities denominated in foreign currencies, was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 USD’000 U.S.$ EUR GBP CNY Trade receivables $ 31,641 $ 6,517 ​ $ 1,695 ​ $ 690 Trade payable ​ 2,918 ​ 1,379 ​ ​ 219 ​ ​ 378 Interest-bearing loans and borrowings ​ — ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2020 USD’000 U.S.$ EUR GBP CNY Trade receivables $ 22,683 $ 3,722 ​ $ 1,587 ​ $ 30 Trade payable ​ 2,740 ​ 305 ​ ​ 219 ​ ​ — Interest-bearing loans and borrowings ​ 58,359 ​ 5,454 ​ ​ — ​ ​ — ​ Sensitivity The following table demonstrates the sensitivity to a reasonably possible change in U.S. Dollar exchange rates against SEK as of December 31, 2021 and 2020, with all other variables held constant. The impact on the Company’s loss before tax is due to changes in the fair value of monetary item assets and monetary liabilities. There is no additional impact on the components of equity because the company did not have any item that directly affected equity. The Company’s exposure to foreign currency changes for all other currencies is not material. The below analysis is based on FX-changes of 3% on the USD. The Group’s debt structure was repaid post IPO during 2021. As a result, there are no mitigating effects of the debt as seen in 2020. The Company’s risk exposure in USD: ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2021 Impact of non-functional currency foreign exchange exposures (Amounts in thousands of U.S. Dollars) (Increase)/decrease in loss before tax USD/SEK exchange rate - increase 3% ​ $ 908 USD/SEK exchange rate - decrease 3% ​ ​ (908) ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2020 Impact of non-functional currency foreign exchange exposures (Amounts in thousands of U.S. Dollars) ​ (Increase)/decrease in loss before tax USD/SEK exchange rate - increase 3% ​ $ (1,016) USD/SEK exchange rate - decrease 3% ​ ​ 1,016 ​ Market risk - Interest-rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company’s main interest rate risk arises from long-term interest-bearing liabilities with variable rates, which expose the Company to cash flow interest rate risk. As of December 31, 2021, the Company do not have any outstanding debt or other debt structures other than leasing. Interest rate derivative instruments are not used by the company. Credit risk Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Companies are exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including deposits with banks and financial institutions and foreign exchange transactions. Credit risk relates primarily to customer credit limits, which are subject to certain credit rating rules and authorization processes. However, the majority of the Companies customer base tend to be blue chip global companies and therefore such customers usually have strong credit ratings. Company’s sales are concentrated such that 44% of sales in 2021 and 52% of sales in 2020 are with biopharmaceutical and academia customers based in the U.S. U.S. Dollar denominated trade receivables as of December 31, 2021 and 2020 amounted to $31,640 thousand and $22,683 thousand, respectively. The maximum default risk for the Companies is equivalent to the net receivables reported in the Consolidated Financial Statements. The Companies have historically almost non-existent credit losses and based on historical data of credit losses together with a forward-looking assessment, the expected credit loss for trade receivables is not material. (see Note 17, ‘Trade receivables’). The Company’s cash at bank is held in Investment Grade credit rated banks. Other financial assets at amortized cost include rental deposits. The credit risk for other financial assets at amortized cost as at December 31, 2021 and 2020 is not material and no credit loss reserve has been recognized. Liquidity risk Credit facilities at banks together with cash at bank allows the Company to meet its liquidity risk obligations as they come due. The shareholder loan was converted to equity during 2020. (see Note 22, ‘Related party transactions’). The following table includes an analysis of the Company’s financial liabilities, grouped according to their maturity dates based on contractual undiscounted payments and considers the period remaining until their contractual maturity date as at December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ than ​ 1 to 3 ​ 3 to 5 ​ More than As per December 31, 2021 Total 1 year years years 5 years Loan facilities (Note 15.1) ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Lease liabilities (Note 15.1) ​ 8,379 ​ 2,952 ​ 3,124 ​ 2,262 ​ 40 Advance invoiced customers (Note 15.2) ​ 5,447 ​ 5,447 ​ — ​ — ​ — Accounts payable (Note 15.2) ​ 8,668 ​ 8,668 ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ than ​ 1 to 3 ​ 3 to 5 ​ More than As per December 31, 2020 Total 1 year years years 5 years Loan facilities (Note 15.1) $ 98,332 ​ $ — ​ $ — ​ $ 98,332 ​ $ — Lease liabilities (Note 15.1) ​ 5,394 ​ 2,428 ​ 2,629 ​ 108 ​ 229 Advance invoiced customers (Note15.2) ​ 7,367 ​ 7,367 ​ — ​ — ​ — Accounts payable (Note 15.2) ​ 6,658 ​ 6,658 ​ — ​ — ​ — ​ 4.2 For the purpose of the Companies’ capital management, capital includes issued capital, other contributed capital and all other equity reserves attributable to the equity holders of the Company. The primary objective of the Companies’ capital management is to maximize the shareholder value.

Segment and revenue information

Segment and revenue information	12 Months Ended
	Dec. 31, 2021
Segment and revenue information
Segment and revenue information	5. 5.1 Operating segments are reported based on the financial information provided to the Chief Executive Officer (“CEO”). The CEO is identified as the Chief Operating Decision Maker (“CODM”) of the Companies. The CODM monitors the operating results of its operating segments separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on revenue growth with less emphasis on profit or loss due to the early stage development of the Company. Profit or loss is measured consistently with net profit or net loss in the Consolidated Financial Statements of the Company. The CODM monitors the operating segments based on revenue growth and gross profit and reports its results under two segments: Kit and Services. All other operating segments have been aggregated and are included within the Corporate / Unallocated heading. The Companies’ research and development activities, sales & administrative activities, financing (including finance costs, finance income and other income) and income taxes are managed on a corporate basis and are not allocated to operating segments. Such expenditure is included in corporate/ unallocated. Capital expenditure consists of additions of property, plant and equipment and intangible assets. 5.2 The following tables presents the Company’s key financial information by segment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Predecessor For ​ ​ ​ ​ ​ ​ ​ ​ Successor ​ ​ the period from ​ ​ Successor for the ​ Successor for the ​ For the year ​ ​ January 1, 2019 ​ ​ year ended ​ year ended ​ ended ​ ​ through Amounts in thousands of US Dollars December 31, 2021 December 31, 2020 December 31, 2019 ​ ​ March 7, 2019 Kit ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue from external customers $ 26,797 $ 14,759 $ 11,067 ​ $ 1,829 Total segment revenue ​ 26,797 ​ 14,759 ​ 11,067 ​ ​ 1,829 Cost of goods sold ​ (4,112) ​ (2,671) ​ (2,430) ​ ​ (106) Gross profit $ 22,685 $ 12,088 $ 8,637 ​ $ 1,723 Service ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue from external customers ​ 60,221 ​ 34,404 ​ 27,739 ​ ​ 2,480 Total segment revenue ​ 60,221 ​ 34,404 ​ 27,739 ​ ​ 2,480 Cost of goods sold ​ (28,299) ​ (12,114) ​ (9,146) ​ ​ (938) Gross profit $ 31,922 $ 22,290 $ 18,593 ​ $ 1,542 Total segments ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue from external customers ​ 87,018 ​ 49,163 ​ 38,806 ​ ​ 4,309 Total segment revenue ​ 87,018 ​ 49,163 ​ 38,806 ​ ​ 4,309 Cost of goods sold ​ (32,411) ​ (14,785) ​ (11,576) ​ ​ (1,044) Gross profit $ 54,607 $ 34,378 $ 27,230 ​ $ 3,265 Corporate / Unallocated ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue from external customers ​ 7,955 ​ 4,904 ​ 2,887 ​ ​ 316 Total segment revenue ​ 7,955 ​ 4,904 ​ 2,887 ​ ​ 316 Cost of goods sold ​ (4,353) ​ (2,671) ​ (1,442) ​ ​ (210) Gross profit $ 3,602 $ 2,233 $ 1,445 ​ $ 106 Consolidated ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue from external customers ​ 94,973 ​ 54,067 ​ 41,693 ​ ​ 4,625 Total segment revenue ​ 94,973 ​ 54,067 ​ 41,693 ​ ​ 4,625 Cost of goods sold ​ (36,764) ​ (17,456) ​ (13,018) ​ ​ (1,254) Gross profit $ 58,209 $ 36,611 $ 28,675 ​ $ 3,371 ​ 5.3 The Companies’ derive revenue primarily from the sales of own-produced finished goods and services in the following geographical regions: Successor ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate / ​ ​ ​ As per December 31, 2021 ​ Kit ​ Services ​ Unallocated ​ Total Sweden $ 2,072 $ 3,155 ​ $ 1,467 ​ $ 6,694 Americas ​ 12,170 ​ 27,105 ​ ​ 3,068 ​ ​ 42,343 EMEA (excluding Sweden) ​ 10,381 ​ 26,612 ​ ​ 1,754 ​ ​ 38,747 China ​ 1,908 ​ 148 ​ ​ 717 ​ ​ 2,773 Japan ​ 182 ​ 2,605 ​ ​ 195 ​ ​ 2,982 Rest of world ​ 84 ​ 596 ​ ​ 754 ​ ​ 1,434 Total ​ $ 26,797 ​ $ 60,221 ​ $ 7,955 ​ $ 94,973 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate / ​ ​ ​ As per December 31, 2020 ​ Kit ​ Services ​ Unallocated ​ Total Sweden $ 4,029 ​ $ 2,307 ​ $ 884 ​ $ 7,220 Americas ​ 6,824 ​ ​ 19,268 ​ ​ 1,715 ​ ​ 27,807 EMEA (excluding Sweden) ​ 2,858 ​ ​ 10,906 ​ ​ 1,166 ​ ​ 14,930 China ​ 374 ​ ​ 101 ​ ​ 193 ​ ​ 668 Japan ​ 88 ​ ​ 1,369 ​ ​ 90 ​ ​ 1,547 Rest of world ​ 586 ​ ​ 453 ​ ​ 856 ​ ​ 1,895 Total ​ $ 14,759 ​ $ 34,404 ​ $ 4,904 ​ $ 54,067 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate / ​ From January 4, 2019 through December 31, 2019 ​ Kit ​ Services Unallocated ​ Total Sweden ​ $ 1,314 ​ $ 1,716 ​ $ 749 ​ $ 3,779 Americas ​ 6,266 ​ 19,431 ​ 1,449 ​ 27,146 EMEA (excluding Sweden) ​ 2,958 ​ 5,975 ​ 656 ​ 9,589 China ​ 465 ​ 69 ​ 10 ​ 544 Japan ​ 64 ​ 301 ​ 16 ​ 381 Rest of world ​ — ​ 247 ​ 7 ​ 254 Total ​ $ 11,067 ​ $ 27,739 ​ $ 2,887 ​ $ 41,693 ​ Predecessor ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate / ​ ​ From January 1, 2019 through March 7, 2019 ​ Kit ​ Services ​ Unallocated ​ Total Sweden ​ $ 512 ​ $ 203 ​ $ 88 ​ $ 803 Americas ​ 901 ​ 1,529 ​ 158 ​ 2,588 EMEA (excluding Sweden) ​ 317 ​ 748 ​ 64 ​ 1,129 China ​ — ​ — ​ — ​ — Japan ​ 99 ​ — ​ 6 ​ 105 Rest of world ​ — ​ — ​ — ​ — Total ​ $ 1,829 ​ $ 2,480 ​ $ 316 ​ $ 4,625 ​ There were no customers in the Successor 2020 or 2019 periods that individually exceeded 10% of total revenue. In the Predecessor 2019 period, Hamilton Health Sciences individually exceeded 10% of total revenue, with sales amounting to $707 thousand. There were no customers during 2021 that individually exceeded 10% of total revenue. ​ 5.4 Sweden is regarded as being the Company’s country of domicile. Non-current operating assets are distributed by geography as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ December 31, ​ 2021 2020 Sweden $ 327,404 ​ $ 355,179 Rest of World ​ 11,707 ​ ​ 2,799 Total $ 339,111 ​ $ 357,978 ​

Operating expenses by nature

Operating expenses by nature	12 Months Ended
	Dec. 31, 2021
Operating expenses by nature
Operating expenses by nature	6. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Successor ​ Successor ​ ​ ​ ​ ​ ​ ​ ​ ​ for the year ​ for the year Successor from ​ ​ ​ ​ ​ ​ ended ​ ended ​ January 4, 2019 ​ ​ Predecessor from ​ ​ December ​ December ​ through December ​ ​ January 1, 2019 ​ 31, 2021 31, 2020 31, 2019 through March 7, 2019 Included in cost the costs of good sold ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost of inventories recognized as an expense $ 28,988 ​ $ 12,760 $ 10,681 ​ ​ $ 840 Depreciation of tangible assets (Note 13, 14.2) ​ 2,964 ​ ​ 1,540 ​ 324 ​ ​ ​ 40 Amortization of intangible assets (Note 12) ​ ​ 28 ​ ​ 0 ​ ​ 0 ​ ​ ​ 0 Employee benefits (Note 7) ​ 4,783 ​ ​ 3,156 ​ 2,006 ​ ​ ​ 373 Included in selling expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation of tangible assets (Note 13, 14.2) ​ 537 ​ ​ 357 ​ 134 ​ ​ ​ 19 Amortization of intangible assets (Note 12) ​ 2 ​ ​ 11 ​ 5 ​ ​ ​ 1 Employee benefits (Note 7) ​ 23,077 ​ ​ 9,758 ​ 4,793 ​ ​ ​ 8,676 Included in administrative expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation of tangible assets (Note 13, 14.2) ​ 463 ​ ​ 293 ​ 781 ​ ​ ​ 106 Amortization of intangible assets (Note 12) ​ 10,455 ​ ​ 9,736 ​ 7,831 ​ ​ ​ — Employee benefits (Note 7) ​ 7,191 ​ ​ 3,519 ​ 2,309 ​ ​ ​ 419 Included in research and development expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation of tangible assets (Note 13, 14.2) ​ 749 ​ ​ 478 ​ 83 ​ ​ ​ 20 Amortization of intangible assets (Note 12) ​ 604 ​ ​ 125 ​ — ​ ​ ​ — Employee benefits (Note 7) ​ 8,613 ​ ​ 3,359 ​ 2,171 ​ ​ ​ 439 ​

Employee benefits

Employee benefits	12 Months Ended
	Dec. 31, 2021
Employee benefits
Employee benefits	7. The Companies have various defined contribution benefit plans, primarily consisting of the plans in Sweden, for which its employees participate. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Successor ​ Successor ​ ​ ​ ​ ​ ​ ​ ​ ​ for the year ​ for the year Successor from ​ ​ ​ ​ ​ ​ ended ​ ended ​ January 4, 2019 ​ ​ Predecessor from ​ ​ December ​ December ​ through December ​ ​ January 1, 2019 ​ 31, 2021 31, 2020 31, 2019 through March 7, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Salaries and wages $ 32,307 ​ $ 15,269 ​ $ 8,956 ​ ​ $ 9,423 Share-based payments ​ ​ 2,524 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Social security costs ​ 6,148 ​ ​ 2,935 ​ ​ 1,649 ​ ​ ​ 352 Pension costs - defined contribution plans ​ 2,685 ​ ​ 1,588 ​ ​ 674 ​ ​ ​ 132 Total employee benefits $ 43,664 ​ $ 19,792 ​ $ 11,279 ​ ​ $ 9,907 ​ Employee benefit expenses for the Predecessor period ended March 7, 2019 includes a change in control bonus for approximately $7,708 thousand included within Salaries and wages. ​ For information about stock- based compensation, please see footnote 20.

Financial income and expenses

Financial income and expenses	12 Months Ended
	Dec. 31, 2021
Financial income and expenses
Financial income and expenses	8. The following table shows a reconciliation of financial income and expense. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Successor ​ Successor ​ ​ ​ ​ ​ ​ for the year ​ for the year Successor from ​ ​ ​ ​ ended ​ ended ​ January 4, 2019 ​ Predecessor ​ ​ December ​ December ​ through December ​ from January 1, 2019 ​ ​ 31, 2021 ​ 31, 2020 ​ 31, 2019 through March 7, 2019 ​ ​ ​ ​ ​ ​ ​ Interest income $ 98 $ — $ 7 $ — Interest expense on loans and other borrowings (1,760) (6,355) ​ (6,423) ​ — Interest expense on lease liabilities (386) (276) ​ (176) ​ (27) Total interest income/(expense) (2,048) (6,631) ​ (6,592) ​ (27) Total foreign exchange gain/(loss) 1,874 5,455 ​ 18 ​ 242 Other financial expenses (1,719) (713) ​ (1,293) ​ — Total other financial income/(expenses) (1,719) (713) ​ (1,293) ​ — Financial items - net $ (1,893) $ (1,889) $ (7,867) $ 215 ​ ​ ​ ​ ​ ​ ​ ​

Income tax

Income tax	12 Months Ended
	Dec. 31, 2021
Income tax
Income tax	9. Items reported for income taxes include a reasonable estimate of the impact of the material aspects of the Swedish tax rate reduction which was signed into law on June 14, 2018, on the deferred tax assets and liabilities. Swedish tax rules reduced the corporate income tax from 22% to 21.4% from January 1, 2019, and to 20.6% from January 1, 2021. The major components of income tax benefit (expense) for the periods ended December 31, 2021, 2020, 2019 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Successor ​ Successor ​ ​ ​ ​ ​ ​ ​ ​ ​ for the year ​ for the year Successor from ​ ​ ​ ​ ​ ​ ended ​ ended ​ January 4, 2019 ​ ​ Predecessor from ​ ​ December ​ December ​ through December ​ ​ January 1, 2019 ​ 31, 2021 31, 2020 31, 2019 through March 7, 2019 Current tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current tax on profit for the year $ (308) $ (1,231) ​ $ (1,372) ​ ​ $ (123) Total current tax expense ​ (308) ​ (1,231) ​ ​ (1,372) ​ ​ ​ (123) Deferred income tax ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Decrease/(increase) in deferred tax assets ​ 5,324 ​ 54 ​ ​ 13 ​ ​ ​ (2) (Decrease)/increase in deferred tax liabilities ​ 3,190 ​ 1,656 ​ ​ 2,011 ​ ​ ​ (207) Total deferred tax expense/(benefit) ​ 8,514 ​ 1,710 ​ ​ 2,024 ​ ​ ​ (209) Income tax (expense)/benefit $ 8,206 $ 479 ​ $ 652 ​ ​ $ (332) ​ A reconciliation between reported tax expense for each period and the theoretical tax expense that would arise when applying statutory tax rate in Sweden, 20.6% in 2021 and 21.4% in 2020 and 2019, on the Company loss before taxes, is shown in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Successor ​ Successor ​ ​ ​ ​ ​ ​ ​ ​ ​ for the year ​ for the year Successor from ​ ​ ​ ​ ​ ​ ended ​ ended ​ January 4, 2019 ​ ​ Predecessor from ​ ​ December ​ December ​ through December ​ ​ January 1, 2019 ​ 31, 2021 31, 2020 31, 2019 through March 7, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss before tax $ (46,545) ​ $ (7,259) $ (18,530) ​ ​ $ (7,500) Income tax calculated according to tax rate in Sweden 20.6 % 2021/21.4% 2020, 2019 ​ ​ 9,588 ​ ​ 1,553 ​ 3,965 ​ ​ ​ 1,605 Tax effects from: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-deductible costs ​ (1,542) ​ ​ (1,143) ​ (3,019 ​ ​ ​ (1,909) Previously unrecognized tax losses used to reduce current tax expenses ​ 184 ​ ​ 70 ​ (244) ​ ​ ​ (28) Differences in overseas tax rates ​ (24) ​ ​ (22) ​ (50) ​ ​ ​ — Other ​ — ​ ​ 21 ​ — ​ ​ ​ — Income tax $ 8,206 ​ $ 479 $ 652 ​ ​ $ (332) ​ Deferred tax balances Deferred tax assets and liabilities of the Company are shown in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease ​ ​ ​ ​ ​ ​ Deferred tax assets ​ Liabilities ​ Tax losses ​ Other ​ Total Predecessor as of January 1, 2019 ​ $ 11 ​ ​ — ​ ​ — ​ $ 11 Recognized in the statement of comprehensive income ​ 2 ​ ​ — ​ — ​ ​ 2 Predecessor as of March 7, 2019 ​ $ 13 ​ ​ — ​ — ​ $ 13 Through acquisitions - Purchase price allocation ​ — ​ ​ — ​ — ​ ​ — Recognized in the statement of comprehensive income ​ 13 ​ ​ — ​ — ​ ​ 13 Net to deferred tax liability ​ ​ (3) ​ ​ — ​ ​ — ​ ​ (3) Successor as of December 31, 2019 ​ $ 10 ​ ​ — ​ ​ — ​ $ 10 Through acquisitions - Purchase price allocation ​ ​ — ​ ​ — ​ ​ — ​ ​ — Recognized in the statement of comprehensive income ​ ​ 54 ​ ​ — ​ ​ — ​ ​ 54 Net to deferred tax liability ​ ​ (31) ​ ​ — ​ ​ — ​ ​ (31) Exchange differences ​ ​ 4 ​ ​ — ​ ​ — ​ ​ 4 Balance as of December 31, 2020 ​ $ 37 ​ ​ — ​ ​ — ​ $ 37 Recognized in the statement of comprehensive income ​ 113 ​ ​ 4,935 ​ 276 ​ ​ 5,324 Recognized in statement of Equity ​ — ​ ​ — ​ 3,825 ​ ​ 3,825 Net to deferred tax liability ​ ​ — ​ ​ — ​ ​ — ​ ​ — Exchange differences ​ ​ (6) ​ ​ (223) ​ ​ 134 ​ ​ (95) Balance as of December 31, 2021 ​ $ 144 ​ $ 4,712 ​ $ 4,235 ​ $ 9,091 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred tax Intangibles & Other ​ ​ ​ ​ on untaxed ​ Inventory ​ Temporary ​ ​ ​ Deferred tax liabilities ​ reserves ​ Valuation ​ Differences ​ Total Predecessor as of January 1, 2019 ​ $ 501 ​ $ — ​ $ 160 ​ $ 661 Recognized in the statement of comprehensive income ​ 43 ​ — ​ 164 ​ 207 Exchange differences ​ (19) ​ — ​ (3) ​ (22) Predecessor as of March 7, 2019 ​ $ 525 ​ $ — ​ $ 321 ​ $ 846 Purchase Price Allocation ​ 525 ​ 31,615 ​ 321 ​ 32,461 Recognized in the statement of comprehensive income ​ 365 ​ (2,225) ​ (151) ​ (2,011) Recognized in other comprehensive income ​ — ​ — ​ — ​ — Net from deferred tax asset ​ (3) ​ — ​ — ​ (3) Exchange differences ​ 8 ​ (107) ​ (3) ​ (102) Successor as of December 31, 2019 ​ $ 895 ​ $ 29,283 ​ $ 167 ​ $ 30,345 Purchase Price Allocation ​ — ​ 503 ​ — ​ 503 Recognized in the statement of comprehensive income ​ 135 ​ (2,173) ​ 382 ​ (1,656) Recognized in other comprehensive income ​ — ​ — ​ — ​ — Net from deferred tax asset ​ — ​ — ​ (31) ​ (31) Exchange differences ​ 140 ​ 3,868 ​ 24 ​ 4,032 Successor as of December 31, 2020 ​ $ 1,170 ​ $ 31,481 ​ $ 542 ​ $ 33,193 Recognized in the statement of comprehensive income ​ (1,116) ​ (2,206) ​ 133 ​ (3,190) Recognized in other comprehensive income ​ — ​ — ​ — ​ — Net from deferred tax asset ​ — ​ — ​ — ​ — Exchange differences ​ (54) ​ (2,864) ​ 6 ​ (2,912) Successor as of December 31, 2021 ​ $ 0 ​ $ 26,411 ​ $ 681 ​ $ 27,092 ​ The Company has tax losses that arose in Sweden of $43,611 thousand (2020: $912 thousand) that are available indefinitely for offsetting against future taxable profits of the companies in which the losses arose. It also has tax losses related to interest expense deductions that arose in Sweden of $17,608 thousand (2020: $13,230 thousand) that are available for up to 6 years for offsetting against future taxable profits of the companies in which the deduction arose. Deferred tax assets have been recognized for the former but not been recognized for the latter because it is not currently probable that the companies in which the loss arose will be able to generate sufficient taxable profits before these companies' taxable deduction offsets expire after 6 years . Furthermore, these taxable deductions are not available to other group companies where profits are expected to arise. In evaluating the probability of realizing the deferred tax assets, the Company considered all available positive and negative evidence of future taxable income, including past operating results and forecasted market growth and earnings. During 2021, gross movement of $9,054 thousand (2020 $0 million) was recorded in the deferred tax asset with a net impact of $5,324 thousand (2020 $0 million) on the annual results. If the Company were able to recognize all unrecognized deferred tax assets, net profit would increase by $3,627 thousand (2020: $2,831 thousand).

Investments in subsidiaries

Investments in subsidiaries	12 Months Ended
	Dec. 31, 2021
Investments in subsidiaries
Investments in subsidiaries	10. The Company had the following subsidiaries as per December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Share of ​ ​ ​ ​ ​ ​ common shares ​ ​ ​ ​ Country of ​ owned by the ​ ​ ​ ​ registration ​ Company (%) Name Principle Activities and operation 2021 2020 Knilo BidCo AB Holding Company/ Management services Sweden 100 % 100 % Olink Proteomics Holding AB Holding Company Sweden 100 % 100 % Olink Proteomics AB Sales, production, and research & development Sweden 100 % 100 % Agrisera AB Production, and research & development Sweden 100 % 100 % Olink Proteomics Inc. Marketing coordination and sales services USA 100 % 100 % Olink Proteomics Ltd Marketing coordination and sales services UK 100 % 100 % Olink Proteomics B.V Marketing coordination and sales services Netherlands 100 % 100 % Olink Proteomics GmbH . Marketing coordination and sales services Germany 100 % 100 % Olink Proteomics KK Marketing coordination and sales services Japan 100 % 100 % Olink Biotech (Shanghai) Co., Ltd Marketing coordination and sales services China 100 % 100 % ​

Business combinations

Business combinations	12 Months Ended
	Dec. 31, 2021
Business combinations
Business combinations	11. Acquisitions in 2021 No acquisitions were made in 2021. Acquisitions in 2020 On May 7, 2020, the Successor acquired 100% of the shares in Agrisera AB, a Swedish company specializing in polyclonal and monoclonal antibody production. The Successor acquired Agrisera AB in order to enable the growth of its protein biomarker library and increase control over its supply chain. The purchase price of $4,990 thousand was entirely settled in cash. There were no contingent consideration arrangements. The purchase price was allocated to the assets acquired and liabilities assumed based upon their estimated fair values as of the acquisition date, in the amounts of $3,541 thousand and $1,057 thousand, respectively, resulting in goodwill of $2,506 thousand. Acquisitions in 2019 As noted in Note 1, on March 7, 2019, the Successor, as part of the Summa Equity Holding AB group acquired 100% of the shares in Predecessor in a business combination. The Predecessor forms substantially all of the Successor. The fair value of the assets and liabilities recognized as a result of the acquisition are as follows: ​ ​ ​ ​ ​ Assets ​ ​ Intangible assets, excluding goodwill ​ $ 149,831 Property plant and equipment ​ 2,597 Right-of-use assets ​ 2,740 Financial assets ​ 64 Inventories ​ 9,104 Accounts receivables ​ 4,075 Other receivables ​ 9,794 Prepaid expenses and contract assets ​ 466 Cash at bank and in hand ​ 10,187 ​ ​ $ 188,858 Liabilities ​ Lease liabilities ​ $ 2,682 Deferred tax liabilities ​ 32,461 Accounts payable ​ 1,835 Current tax liabilities ​ 1,321 Other current liabilities ​ 8,945 Accrued expenses and contract liabilities ​ 3,355 ​ ​ $ 50,599 Total identifiable net assets at fair value ​ $ 138,259 Goodwill arising upon acquisition (Note 12) ​ 161,123 Purchase Consideration Transferred ​ $ 299,382 ​ The purchase price allocation of acquired customer relationships was determined using the multi-period excess earnings method. Under this method, the fair value, $38,693 thousand, represents the amount a hypothetical buyer would be willing to pay to acquire the future cash flows expected to arise solely from those relationships. The purchase price allocation of the brand, $24,618 thousand, and technology, $86,473 thousand, was determined using relief from royalty method. The principle behind this method is that the value of the asset is equal to the present value of the after-tax royalty savings attributable to owning the asset. The Successor measured the acquired lease liabilities using the present value of the remaining lease payments at the date of acquisition. The right-of-use assets were measured at an amount equal to the lease liabilities and adjusted to reflect the favorable terms of the lease relative to market terms. Since the fair value adjustment has no impact on the assumed tax base for the Customer relations, Brand, and Technology, a temporary difference related to deferred tax arises in the Successor's accounts. The deferred tax is relieved over the life of the corresponding fair value adjustment. The purchase price took into account future income expectations, which support the excess amount paid as compared to the fair value of the assets acquired and liabilities assumed, resulting in the recognition of goodwill. The goodwill of $161,123 thousand comprises assets which are not separately recognizable as they do not fulfil the separate recognition criteria as intangible assets under IAS 38, such as synergies, future growth prospects or skilled and trained workforces. None of the goodwill recognized is expected to be deductible for income tax purposes. The fair value of accounts receivables and other receivables was determined to be equal to book value. The book value of the acquired receivables was equal to the gross amount and it is expected that the full contractual amounts can be collected. Assets and liabilities denominated in foreign currencies were translated using the exchange rates as of the balance sheet date. Acquisition-related costs Acquisition-related costs of $14,666 thousand that were not directly attributable to the issue of shares are included in administrative expenses in the consolidated statements of income and in operating activities in the consolidated statement of cash flows. Revenue and profit contribution Revenue and net loss for the Successor consists entirely of revenue and net loss from the acquired operations as the operations of the Successor started with this acquisition. If the combination had taken place at the beginning of the year, revenue would have been $46,318 thousand and net loss for the period for the Successor would have been $19,498 thousand. Purchase consideration - cash outflow The purchase price of $299,382 thousand was entirely settled in cash. There were no contingent consideration arrangements. Outflow of cash to acquire Predecessor, net of cash acquired. ​ ​ ​ ​ ​ Cash consideration $ 299,382 Less: Balances acquired ​ Cash ​ 10,187 Net outflow of cash - investing activities ​ $ 289,195 ​

Goodwill and other intangible a

Goodwill and other intangible assets	12 Months Ended
	Dec. 31, 2021
Goodwill and other intangible assets
Goodwill and other intangible assets	12. Changes in goodwill and other intangible assets for the Company periods are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Brand ​ ​ ​ ​ ​ ​ ​ ​ Customer ​ ​ ​ and ​ Development ​ ​ ​ Goodwill relation Technology Licenses Cost Total As of December 31, 2019 ​ 160,843 ​ 38,626 ​ 86,323 ​ 24,632 ​ — ​ 310,424 Purchase Price Allocation ​ 2,506 ​ 1,359 ​ 654 ​ 180 ​ — ​ 4,699 Additions — — — 127 7,664 7,791 Translation differences 22,671 5,597 12,028 3,446 950 44,692 As of December 31, 2020 186,020 45,582 99,005 28,385 8,614 367,606 Additions ​ — ​ — ​ — ​ 593 ​ 3,733 ​ 4,326 Translation differences ​ (17,589) ​ (4,310) ​ (9,361) ​ (2,712) ​ (1,005) ​ (34,977) As of December 31, 2021 ​ 168,431 ​ 41,272 ​ 89,644 ​ 26,266 ​ 11,342 ​ 336,955 Amortization and impairment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2019 ​ — ​ 3,219 ​ 4,796 ​ 5 ​ — ​ 8,020 Amortization ​ — ​ 4,005 ​ 5,856 ​ 11 ​ — ​ 9,872 Translation differences ​ — ​ 940 ​ 1,386 ​ 1 ​ — ​ 2,327 As of December 31, 2020 ​ — ​ 8,164 ​ 12,038 ​ 17 ​ — ​ 20,219 Amortization ​ — ​ 4,349 ​ 6,297 ​ 41 ​ 401 ​ 11,088 Translation differences ​ — ​ (995) ​ (1,459) ​ (3) ​ (19) ​ (2,476) As of December 31, 2021 ​ — ​ 11,518 ​ 16,876 ​ 55 ​ 382 ​ 28,831 Net Book Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 ​ 168,431 ​ 29,754 ​ 72,768 ​ 26,211 ​ 10,960 ​ 308,124 As of December 31, 2020 186,020 37,418 86,967 28,368 8,614 347,387 ​ 12.1 For impairment testing goodwill acquired through business combinations and brands with indefinite useful lives are allocated to the Kit and Services CGUs, which are also reportable segments. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 ​ Kit ​ Services ​ Total Goodwill $ 134,189 $ 34,242 $ 168,431 Brands ​ 15,338 ​ 10,176 ​ 25,514 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2020 Kit Services Total Goodwill ​ $ 147,067 ​ $ 38,953 ​ $ 186,020 Brands ​ 16,858 ​ 11,320 ​ 28,178 ​ The recoverable amounts of the CGUs’ value in use calculation using cash flow projections from financial budgets approved by senior management covering a ten-year period. Given the Company’s status as an early stage growth company the use of a 10-year budget is appropriate, as the Company is not expected to reach a terminal growth prior to the end of the budgeted ten years. The discount rates used in 2021 and 2020 is based on the Company’s WACC of 19% and 21% respectively, as both CGUs have integrated operations across the business. The discount rate is adjusted where appropriate for specific segment, country and currency risks. The valuation methodology uses significant inputs which are not based on observable market data; therefore, this valuation technique is classified as level 3 in the fair value hierarchy. Details relating to the discounted cash flow models used in the impairment tests of the Kit and Services CGUs are as follows: ​ ​ ​ ​ Valuation basis Value in use Key assumptions · Sales growth rates · Profit margins · CAPEX and working capital · Terminal value · Discount rate · Taxation rate Determination of assumptions · Growth rates are internal forecasts based on both internal and external market information · Margins reflect past experience, adjusted for expected changes · Terminal growth rates based on management’s estimate of future long-term average growth rates · CAPEX and working capital forecasts as a percentage of revenue · Discount rates based on the Company’s WACC, adjusted where appropriate. · Taxation rates based on appropriate rates for each country. Period of specific projected cash flows 10 years Terminal growth rate and discount rate Terminal growth rate Discount rate 2021/2020 ​ Kit and Services CGUs 2% per annum 19%/21% ​ The Company performed its annual goodwill impairment test for each of its reporting units as of December 31, 2021 and 2020 using a discounted cash flow analysis, concluding that the recoverable amounts of all of its reporting units were in excess of their carrying values. No impairment of goodwill was required. The discounted cash flow analysis includes management’s current assumptions as to future cash flows and long-term growth rates. Management has identified that a reasonably possible change in these two key assumptions during 2021 could cause the carrying amount to exceed recoverable amounts of each CGU. A rise in the pre-tax discount rate above 25.9% (i.e., +6.6%) in the Kit segment or 23.0% (i.e., +3.7%) in the Services segment would result in impairment. A decline in the terminal growth rate to 0% (i.e., -2.0%) in the Kit segment or 0% (i.e., -2.0%) in the Services segment would not result in an impairment. In 2021 Management performed a sensitivity analysis of these key assumptions, noting for both CGUs a simultaneous rise in the pre-tax discount rate to 22.3% (i.e., +3.00%) and decline in the terminal growth rate to 0% (i.e., -2.00%) would not result in impairment. Management has identified that a reasonably possible change in these two assumptions would not result in the estimated recoverable amounts falling below the carrying amount in either CGU.

Property, plant and equipment

Property, plant and equipment	12 Months Ended
	Dec. 31, 2021
Property, plant and equipment.
Property, plant and equipment	13. Changes in property, plant and equipment for the Company periods are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in progress for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Furniture, ​ ​ property, plant ​ ​ ​ ​ ​ ​ Leasehold ​ ​ Plant and ​ ​ fittings and ​ ​ and ​ ​ ​ ​ ​ improvement ​ machinery ​ equipment ​ equipment ​ Total As of December 31, 2019 ​ $ 530 ​ $ 1,176 ​ $ 1,421 ​ $ 84 ​ $ 3,211 Purchase Price Allocation ​ ​ — ​ ​ 44 ​ ​ 63 ​ ​ — ​ ​ 107 Additions ​ ​ 123 ​ ​ 1,561 ​ ​ 1,303 ​ ​ 473 ​ ​ 3,460 Transfers ​ ​ — ​ ​ 368 ​ ​ 124 ​ ​ (492) ​ ​ 0 Disposals ​ — ​ — ​ — ​ — ​ 0 Translation differences ​ 6 ​ 244 ​ 383 ​ 11 ​ 644 As of December 31, 2020 ​ 659 ​ 3,393 ​ 3,294 ​ 76 ​ 7,422 Additions ​ 3,147 ​ 4,836 ​ 1,180 ​ 1,319 ​ 10,482 Transfers ​ 92 ​ 200 ​ (63) ​ (597) ​ (368) Disposals ​ (569) ​ (21) ​ (495) ​ — ​ (1,085) Translation differences ​ (6) ​ (373) ​ (325) ​ (45) ​ (749) As of December 31, 2021 ​ ​ 3,323 ​ ​ 8,035 ​ ​ 3,591 ​ ​ 753 ​ ​ 15,702 Amortization and impairment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2019 ​ ​ 93 ​ ​ 202 ​ ​ 175 ​ ​ — ​ ​ 470 Depreciation for the period ​ ​ 114 ​ ​ 493 ​ ​ 458 ​ ​ — ​ ​ 1,065 Disposals ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 0 Translation differences ​ ​ — ​ ​ 33 ​ ​ 80 ​ ​ — ​ ​ 113 As of December 31, 2020 ​ ​ 207 ​ ​ 728 ​ ​ 713 ​ ​ 0 ​ ​ 1,648 Depreciation for the period ​ ​ 238 ​ ​ 1,069 ​ ​ 727 ​ ​ — ​ ​ 2,034 Transfers ​ ​ 1 ​ ​ (128) ​ ​ 59 ​ ​ — ​ ​ (68) Disposals ​ ​ (370) ​ ​ (11) ​ ​ (69) ​ ​ — ​ ​ (450) Translation differences ​ (1) ​ (55) ​ (102) ​ — ​ (158) As of December 31, 2021 ​ ​ 75 ​ ​ 1,603 ​ ​ 1,328 ​ ​ 0 ​ ​ 3,006 Net Book Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 ​ ​ 3,248 ​ ​ 6,432 ​ ​ 2,263 ​ ​ 753 ​ ​ 12,696 As of December 31,2020 $ 452 $ 2,665 $ 2,581 $ 76 $ 5,774 ​

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases
Leases	14. The Companies are a lessee The Companies have lease contracts for various items of property and production equipment used in its operations. Lease terms for properties and equipment are generally between 1 For the year ended December 31, 2021 and 2020 the Company had lease contracts with lease terms of 12 months or less. The Company applied the ‘short-term lease’ recognition exemption for theses leases. The applicable Company periods have lease of office equipment with low value. The Companies applied the ‘lease of low-value assets’ recognition exemptions for these leases. 14.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ As of December 31, ​ ​ 2021 2020 Right-of-Use Assets ​ ​ ​ ​ ​ Property ​ $ 7,195 ​ $ 3,073 Equipment ​ 1,583 ​ 1,611 Total assets ​ $ 8,778 ​ $ 4,684 Lease liabilities ​ ​ ​ Current (Note 15.1) ​ ​ 2,952 ​ ​ 2,146 Non-current (Note 15.1) ​ 5,427 ​ 2,290 Total liabilities ​ $ 8,379 ​ $ 4,436 ​ The additions of right-of-use assets during the Company periods ended December 31, 2021 and 2020 were $7122 thousand and $1,143 thousand, respectively. 14.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Successor from ​ ​ Predecessor from ​ ​ Successor ​ Successor ​ January 4, 2019 ​ ​ January 1, 2019 ​ ​ For the year ended ​ For the year ended ​ through ​ ​ through ​ December 31, 2021 December 31, 2020 December 31, 2019 March 7, 2019 Depreciation charge of right-of-use assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property ​ $ 1,611 $ 921 ​ $ 647 ​ ​ $ 100 Equipment ​ ​ 1,068 682 ​ ​ 108 ​ ​ ​ — Total depreciation of right-of-use-assets ​ ​ 2,679 1,603 ​ ​ 755 ​ ​ ​ 100 Interest expense (included in finance cost, Not 8) ​ ​ 386 276 ​ ​ 176 ​ ​ ​ 27 Total amount recognized in net loss for the period ​ $ 3,065 $ 1,879 ​ $ 931 ​ ​ $ 127 ​ No significant variable lease payments that are not included in the lease liability have been identified for the Company. Short term lease payments and payments on low value lease assets were not significant for the year ended December 31, 2021. The total cash outflow for leases during the Company periods ended December 31, 2021 and 2020 were $2,845 thousand and $1,764 thousand, respectively. The maturity analysis of lease liabilities for the Company is disclosed in Note 4.1.

Financial instruments per categ

Financial instruments per category	12 Months Ended
	Dec. 31, 2021
Financial instruments per category
Financial instruments per category	15. The following tables present the Company’s financial instruments per category ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December ​ As of December ​ 31, 2021 31, 2020 Current debt instruments at amortized cost ​ ​ ​ ​ Trade receivables ​ $ 42,061 $ 33,482 Other receivables ​ ​ 4,094 2,856 Total current debt instruments at amortized cost ​ ​ 46,155 36,338 Non-current debt instruments at amortized cost ​ ​ Other long-term receivables ​ ​ 422 133 Total non-current debt instruments at amortized cost ​ ​ 422 133 Total financial assets ​ $ 46,577 $ 36,471 ​ 15.1 Financial liabilities: Interest-bearing loans and borrowings ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December ​ Interest Rate Maturity 31, 2021 Current interest-bearing loans and borrowings ​ ​ ​ ​ Lease Liabilities (Note 14) 6.25%-11 % 2022 ​ $ 2,952 Total current interest-bearing loans and borrowings ​ ​ ​ 2,952 Non-current interest-bearing loans and borrowings ​ Lease Liabilities (Note 14) 6.25%-11 % 2022-30 ​ $ 5,427 Facilities ​ ​ ​ ​ — Total non-current interest-bearing loans and borrowings ​ ​ ​ 5,427 Total interest-bearing loans and borrowings ​ ​ ​ $ 8,379 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December ​ Interest Rate Maturity 31, 2020 Current interest-bearing loans and borrowings ​ ​ ​ ​ Lease Liabilities (Note 14) 6.25%-11 % 2021 ​ $ 2,146 Total current interest-bearing loans and borrowings ​ ​ ​ 2,146 Non-current interest-bearing loans and borrowings ​ Lease Liabilities (Note 14) 6.25%-11 % 2021-30 ​ $ 2,290 Facilities 11 % 2025 ​ 61,675 Total non-current interest-bearing loans and borrowings ​ ​ ​ 63,965 Total interest-bearing loans and borrowings ​ ​ ​ $ 66,111 ​ Loan from shareholder and other interest-bearing loan The loan from shareholder and the other interest-bearing loan were converted to equity on May 25, 2020. These loans had been previously payable on demand as repayment timing was not specified in the loan agreement. Accrued interest was capitalized annually on the last calendar day of each year. The conversion was made without any premium or penalty. Loan Facility During the year ended December 31, 2019 we entered into a loan facility in the amount of $110 million with Bridgepoint Credit and DNB AB (Publ) as part of the financing of the Olink Acquisition (Facilities). Under the terms of the Facilities the Successor had access to a Capex/Acquisition Facility, a term Facility B, a Recap Facility and a Revolving Facility. The facilities had a leverage covenant towards the creditors that measures a rolling 12-month EBITDA in relation to net debt at the end of each quarter. The interest rate was equal to a bank reference rate, or the EURIBOR, STIBOR, or LIBOR plus a margin ranging from 3.0% to 6.25% dependent upon the facility and denomination of the borrowings and leverage. There was a commitment fee equal to 35% of the margin on any unused facility. During the year ended December 31, 2020 we amended our debt structure under the existing loan facility with Bridgepoint Credit and DNB AB (Publ), increasing the total commitment under the facilities to $137.6 million . The effective date of the amended agreement was December 23, 2020. A total of $63.5 million has been drawn down under the term Facility B, adjusted for transaction costs of $1.8 million. The loans were raised in USD and EUR to match revenue streams in USD and EUR. The interest will be capitalized annually to form part of the Facility B loans and will thereafter bear interest together with the rest of the loan. The remaining undrawn credit under the facilities is $74.1 million. Under the terms of the Facilities, the Successor has pledged the assets, including patents and other intellectual property, of its subsidiary, Olink Proteomics Inc. The book value of the pledged assets was $6,948 thousand as of December 31, 2020. Facilities, we have pledged the assets, including patents and other intellectual property, of our subsidiary, Olink Proteomics Inc. The book value of the pledged assets was $6.9 million as of December 31, 2020. On March 30, 2021, we repaid $65.6 million of outstanding loan facilities plus accrued interest of $1.9 million using the net proceeds from the offering. As of December 31, 2021, we had $118.1 million in cash at bank and no outstanding loan balances. 15.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ ​ December 31, ​ December 31, ​ 2021 2020 Other financial liabilities at amortized cost ​ ​ ​ ​ Advance invoiced customers ​ ​ 5,447 ​ $ 7,367 Accounts payable ​ 8,668 ​ 6,658 Total other current financial liabilities ​ $ 14,115 $ 14,025 ​ 15.3 To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into the three levels prescribed under the accounting standards. Level 1: Level 2: Level 3: Set out below is a comparison, by class, of the carrying amounts and fair values of the Company’s financial instruments, other than those with carrying amounts that are reasonable approximations of fair values: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 ​ ​ Carrying ​ ​ ​ ​ ​ ​ ​ Amount Level 1 Level 2 Level 3 Financial liabilities ​ ​ ​ ​ ​ ​ ​ ​ Facilities — — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2020 ​ ​ Carrying ​ ​ ​ ​ ​ ​ ​ Amount Level 1 Level 2 Level 3 Financial liabilities ​ ​ ​ ​ Facilities 61,675 — 61,675 — ​ Management assessed that the fair values of cash at bank, accounts receivables, other receivables, accounts payable, and advance payments from customers approximate their carrying amounts largely due to the short-term maturities of these instruments. 15.4 Changes in Liabilities attributable to financing activities The following tables show changes in liabilities attributable to financing activities for the Company respectively: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-current ​ ​ ​ ​ ​ ​ Current ​ ​ ​ ​ Interest ​ ​ ​ ​ ​ ​ ​ ​ Interest ​ ​ ​ ​ bearing ​ ​ ​ ​ ​ ​ ​ ​ bearing ​ ​ ​ ​ liabilities ​ ​ ​ ​ Total ​ ​ liabilities ​ ​ ​ ​ (excluding ​ Non- ​ liabilities ​ ​ (excluding ​ Current ​ Non-current ​ current ​ from ​ ​ current lease ​ lease ​ lease ​ lease ​ financing ​ ​ liabilities) ​ liabilities ​ liabilities) ​ liabilities ​ activities Predecessor liabilities as of January 1, 2019 ​ $ 0 ​ $ 682 ​ $ 0 ​ $ 2,066 ​ $ 2,748 Cash flows ​ — ​ (23) ​ — ​ — ​ (23) Non cash-flow: ​ ​ ​ ​ ​ New leases ​ — ​ — ​ — ​ — ​ — Foreign exchange adjustments ​ — ​ (18) ​ — ​ (52) ​ (70) Other ​ — ​ 28 ​ — ​ (8) ​ 20 Predecessor liabilities as of March 7, 2019 ​ — ​ 669 ​ 0 ​ 2,006 ​ 2,675 Cash flows ​ 40,000 ​ (749) ​ 53,278 ​ — ​ 92,529 Non cash-flow: ​ ​ ​ ​ ​ New leases ​ — ​ 700 ​ — ​ 1,812 ​ 2,512 Foreign exchange adjustments ​ — ​ 10 ​ (49) ​ 8 ​ (31) Other ​ 2,720 ​ 784 ​ (1) ​ (776) ​ 2,727 Successor liabilities as of December 31, 2019 ​ $ 42,720 ​ $ 1,414 ​ $ 53,228 ​ $ 3,050 ​ $ 100,412 Cash flows ​ — ​ (1,490) ​ 7,930 ​ — ​ 6,440 Non cash-flow: ​ ​ ​ ​ ​ New leases ​ — ​ 637 ​ — ​ 474 ​ 1,111 Foreign exchange adjustments ​ — ​ 153 ​ 143 ​ 196 ​ 492 Other ​ (42,720) ​ 1,432 ​ 374 ​ (1,430) ​ (42,344) Successor Liabilities as of December 31, 2020 ​ $ — ​ $ 2,146 ​ $ 61,675 ​ $ 2,290 ​ $ 66,111 Cash flows ​ — ​ (2,845) ​ (63,315) ​ — ​ (66,160) Non cash-flow: ​ ​ ​ ​ ​ New leases ​ — ​ 1,379 ​ — ​ 5,320 ​ 6,699 Foreign exchange adjustments ​ — ​ (133) ​ (58) ​ 222 ​ 31 Other ​ — ​ 2,405 ​ 1,698 ​ (2,405) ​ 1,698 Successor Liabilities as of December 31, 2021 ​ $ 0 ​ $ 2,952 ​ $ 0 ​ $ 5,427 ​ $ 8,379 ​

Inventories

Inventories	12 Months Ended
	Dec. 31, 2021
Inventories
Inventories	16. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ December 31, ​ December 31, ​ 2021 2020 Raw materials ​ $ 18,402 ​ $ 13,004 Work in-progress ​ ​ 5,138 ​ ​ 3,712 Finished products ​ 5,400 ​ 4,110 Total inventories at the lower of cost and net realizable value $ 28,940 $ 20,826 ​

Trade receivables

Trade receivables	12 Months Ended
	Dec. 31, 2021
Trade receivables.
Trade receivables	17. Trade receivables, for the Company, are non-interest bearing and are generally on terms of 30

Other receivables

Other receivables	12 Months Ended
	Dec. 31, 2021
Other receivables
Other receivables	18. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ December ​ December ​ 31, 2021 31, 2020 Value added tax and other tax receivables ​ $ 3,184 ​ $ 2,350 Other items ​ ​ 910 ​ ​ 506 Total ​ $ 4,094 $ 2,856 ​

Share capital and Other contrib

Share capital and Other contributed capital	12 Months Ended
	Dec. 31, 2021
Share capital and Other contributed capital
Share capital and Other contributed capital	19. The Company’s Share capital at December 31, 2021 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of ​ ​ ​ ​ Other Contributed ​ shares Share Capital Capital Common Share 119,007,062 ​ 30,964 ​ 506,008 Total 119,007,062 ​ 30,964 ​ 506,008 ​ The Company’s Share capital at December 31, 2020 consisted of the following, on a pre-split basis: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of ​ ​ ​ ​ Other Contributed ​ shares Share Capital Capital Preferred A ​ 1 ​ $ — ​ $ — Preferred B1 200,755,561 ​ 21,249 ​ 194,741 Common Share - Class A 56,221,500 ​ 5,946 ​ 62,965 Common Share - Class B 250,000 ​ 29 ​ 68 Total 257,227,062 ​ $ 27,224 ​ $ 257,774 ​ Preferred A and Preferred B1 shares receive a preferential right to all forms of value transfers from the Company to the shareholders. The preference share A has a fixed amount as preference and the B share has an 8 percent cumulative coupon on the invested amount. There is no annual cash dividend or pay out, as the 8% fixed return accumulates indefinitely. As payments of dividend or potential decision of redemption preference share is within the control of the entity and as such the preferred preference shares are classified as equity instruments. The shares rank ahead of common equity and receive their return before any return is allocated to common shares. The Preferred A and Preferred B1 shares are entitled to ten votes per share while Common shares, both Class A and Class B, are entitled to one vote per share. Common A shares and Common B Shares carry equivalent features, however Common B shares have a higher threshold upon a potential exit or restructuring event, including an initial public offering, in order to receive a return. As of December 31, 2020, the total number of authorized shares was 800,000,000 of which 257,227,062 were issued and outstanding Reorganization of share structure On March 16, 2021, the Company’s shareholders approved the adoption of new articles of association which provided for the reorganization of existing common and preferred shares into one single share class. Pursuant to the new articles of association, each class of shares have been reorganized into one class of common shares as follows: ● The common shares series A have been re-designated as 56,221,500 common shares; ● The common shares series B have been re-designated as 250,000 common shares; ● The preferred share series A have been re-designated as one common share; and ● The preferred shares series B1 have been re-designated as 200,755,561 common shares. Furthermore, on March 16, 2021, the Company’s shareholders resolved to conduct a reverse share split where the total number of outstanding common shares (257,227,062) was consolidated into 105,771,768 common shares. Initial public offering On March 29, 2021, the Company completed an initial public offering of 13,235,294 ADSs, representing 13,235,294 common shares, at an initial public offering price of $20.00 per share. The net proceeds from the initial public offering were $249.3 million, after deducting the underwriting discounts, net of deferred taxes, and other initial public offering costs associated with the filing. The net proceeds of the initial public offering per the condensed consolidated statement of cash flows of $245.2 million do not reflect the non-cash movement related to the tax-deductible portion of the underwriter fees. Total transaction costs accounted for as a deduction from equity, net of deferred taxes, amounts to $15.4 million. Following the initial public offering on March 29, 2021 the Company has 119,007,062 common shares outstanding. The following chart shows a reconciliation of the movements in equity from December 31, 2019 through December 31, 2020 and from December 31, 2020 through December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shares ​ ​ ​ ​ ​ ​ Outstanding ​ Share ​ Other Contributed ​ ​ (number) ​ Capital ​ Capital Balance as of December 31, 2019 208,962,350 ​ $ 22,124 ​ $ 199,121 New Share Issuance 48,264,712 ​ 5,100 ​ 58,653 Shareholders’ contributions — ​ — ​ — Balance as of December 31, 2020 257,227,062 ​ $ 27,224 ​ $ 257,774 New Share Issuance 13,235,294 ​ 3,740 ​ 245,543 Share based renumeration program — ​ — ​ 2,691 Reverse stock split (151,455,294) ​ — ​ — Balance as of December 31, 2021 119,007,062 ​ $ 30,964 ​ $ 506,008 ​

Stock-based compensation

Stock-based compensation	12 Months Ended
	Dec. 31, 2021
Stock-based compensation
Stock-based compensation	20. On March 16, 2021 at the Annual General Meeting, our shareholders approved and made effective our 2021 Incentive Award Plan (“2021 Plan”). The principal purpose of the 2021 Plan is to attract, retain and motivate selected employees, consultants and directors through the granting of share-based compensation awards and cash-based performance bonus awards. Under the 2021 Plan, 1,085,900 shares are initially available for issuance pursuant to a variety of stock-based compensation awards, including stock options, restricted stock unit awards and performance based restricted stock unit awards; provided, however, that no more than 1,085,900 shares may be issued upon the exercise of incentive stock options. The shares will be issued when the program vests over the four-year plan period. In connection with the closing of the initial public offering, the Company granted options to purchase an aggregate of 620,675 common shares out of the 2021 Plan, of which 442,789 options were granted to certain of our executive officers and directors, in each case with an exercise price equal to 125% of the initial public offering price of $20.00. Such options shall vest over four years, subject to the terms and conditions of the 2021 Plan. The expiration date on the options is five years from grant date. The material terms of the 2021 Plan have been summarized within the final prospectus relating to the initial public offering, dated March 24, 2021. The IFRS 2 cost is calculated according to the following: Fair value per option at the grant date * the number of outstanding share options * the number of days passed of the vesting period. To calculate fair value per share option at the grant date, the principles of the Black and Scholes model have been used. The expense associated with these stock options amounted to $1.0 million for the twelve months ended December 31, 2021. These are recorded within selling and administrative expenses within the income statement. A summary of stock option activity under the Company's 2021 Plan relating to awards to certain officers and directors as of December 31, 2021, and changes during the twelve months ended December 31, 2021, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Outstanding ​ Average ​ ​ Stock ​ Exercise ​ Options Price Granted ​ 442,789 ​ 25 Vested ​ 0 ​ ​ Forfeited 0 ​ Balance as of December 31, 2021 442,789 25 ​ During the third quarter, 465,225 restricted stock units (“RSUs”) that had been approved at the Annual General Meeting on March 16, 2021 were awarded to employees currently employed by Olink under the 2021 Plan. Of this, 344,271 were granted as at December 31, 2021, of which 108,071 RSU’s were granted to our executive officers. The RSUs will vest during a four-year period; new shares will be issued when the RSUs vest. The expense associated with these RSUs amounted to $2.0 million for the twelve months ended December 31, 2021. These are recorded within selling, administrative and cost of goods sold expenses within the income statement. The following is a summary of the RSU activity and related information as of December 31, 2021, and changes during the twelve months ended December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Outstanding ​ Grant Date Fair ​ RSU’s Value Granted ​ 344,271 ​ 23.75 Vested ​ 0 ​ ​ Forfeited ​ 8,822 ​ ​ Balance as of December 31, 2021 335,449 23.75 ​

Other current liabilities

Other current liabilities	12 Months Ended
	Dec. 31, 2021
Other current liabilities.
Other current liabilities	21. ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December As of December ​ 31, 2021 31, 2020 Salaries and wages ​ $ 6,306 $ 4,342 Advance invoiced customers ​ 5,447 ​ ​ 7,367 Royalties ​ 1,233 ​ ​ 1,767 Other current liabilities ​ 6,663 ​ ​ 5,681 Total ​ $ 19,649 ​ $ 19,157 ​ Advance invoiced customers represent a contract liability. Beginning January 1, 2020, the Company had a liability balance of $1,068 for advance invoiced customers. During fiscal year 2020, the Company recognized $592 thousand of the advances from invoiced customers as revenue. Beginning January 1, 2021, the Company had a liability balance of $7,367 for advance invoiced customers. During fiscal year 2021, the Company recognized $7,092 of the advances from customers as revenue. Other current liabilities include a contract liability related to advance payments from customers. On January 1, 2020 the Company did not have a contract liability for advance payments from customers. As of December 31, 2020, the advance payments from customers is $178 thousand. As per December 31, 2021 the advanced payments from customers is $258 thousand.

Related-party transactions

Related-party transactions	12 Months Ended
	Dec. 31, 2021
Related-party transactions
Related-party transactions	22. In March 2019, the Company entered into a shareholder loan ("Shareholder Loan") agreement, with Knilo InvestCo AB (f/k/a Goldcup 18085 AB), a subsidiary of our ultimate parent - Summa Equity AB, pursuant to which Knilo InvestCo AB extended a loan to the Company equal to approximately $38,486 thousand. There were no repayment terms for this loan and accrued interest, at the rate of 8% per annum, was capitalized annually on the last calendar day of each year. As of December 31, 2019 the outstanding balance on Shareholder Loan was approximately $41,102 thousand, of which $2,616 thousand was accrued interest. The amounts are classified as current interest-bearing loans and borrowings (Note 15). The Company could at any time without any premium or penalty, prepay any outstanding amount. Pursuant to the terms of the Shareholder Loan agreement, the outstanding amounts held by Knilo InvestCo AB converted to 6,763,245 shares of Class A common shares and 27,052,980 shares of preferred B-1 shares of the Company in May 2020. Interest expense recognized in 2020 prior to the conversion of the loan totaled $1,377 thousand. As per December 31, 2021 there are no outstanding loans to Knilo InvestCo AB. There were no sales to or purchases from related parties during 2020 or 2021 outside of the transactions with directors disclosed below. No dividends were paid in 2019, 2020 or 2021. Compensation of key management personnel of the Companies ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Successor ​ ​ Predecessor ​ For the year For the year From January 4, From January 1, ​ ​ ended ​ ended ​ 2019 through ​ ​ 2019 through ​ ​ December 31, ​ December 31, ​ December 31, ​ ​ March 7, ​ 2021 2020 2019 2019 Wages and salaries ​ $ 2,732 ​ $ 839 ​ $ 1,216 ​ ​ $ 7,791 Share-based payments ​ ​ 96 ​ ​ — ​ ​ — ​ ​ ​ — Social security costs ​ ​ 876 ​ ​ 179 ​ ​ — ​ ​ ​ — Pension costs - defined contribution plans ​ ​ 303 ​ ​ 90 ​ ​ 42 ​ ​ ​ — ​ ​ $ 4,007 ​ $ 1,108 ​ $ 1,258 ​ ​ $ 7,791 ​ A management investment program exists between Knilo InvestCo AB and management and employees in the Company, and its subsidiaries. Management and employees have acquired the shares at fair value. Agreements with Our Executive Officers and Directors In August 2019, the Company's subsidiary - Olink Proteomics AB entered into a consulting agreement (the “Consulting Agreement”), with Gustavo Salem, a member of our board, pursuant to which Olink Proteomics AB agreed to pay a base rate of $7.5 thousand per month. The base pay rates were subsequently amended to $6 thousand per month in April 2020. The Consulting Agreement expired on May 31, 2021. Olink Proteomics AB paid $78 thousand for the year ended December 31, 2020, and $59 thousand for the period ended December 31, 2019. No payment has been made during 2021 pursuant to this Consulting Agreement. Other board members were paid approximately $9 thousand dollars pursuant to consulting arrangements in 2020. For their services on the board of directors, board members collectively received renumeration of $110 thousand during the year ended December 31, 2020 and $408 thousand during 2021. Management Service Agreements In March 2019, Summa Equity AB entered into a management service agreement (the "Summa MSA"), with the Company's subsidiary - Knilo BidCo AB (f/k/a Goldcup 18087 AB), pursuant to which Knilo BidCo AB engaged Summa Equity AB for services related to the management and business operations of Knilo BidCo AB. During the years ended December 31, 2020 and December 31, 2019, Knilo BidCo AB made payments to Summa Equity AB of $37 thousand and $166 thousand respectively, in connection with the Summa MSA. The Summa MSA was terminated in connection with our initial public offering, upon which we paid Summa Equity AB a lump sum amount equal to approximately $2.4 million.

Earnings per share

Earnings per share	12 Months Ended
	Dec. 31, 2021
Earnings per share
Earnings per share	23. Earnings per share for the Successor is calculated by taking the net loss for the period, less the amount of the accumulated preferred dividend yield, divided by the weighted average of outstanding common shares during the period. Earnings per share for the Predecessor is calculated by taking the net loss for the period divided by the weighted average of outstanding common shares during the period. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Successor for ​ Successor for Successor from Predecessor ​ the year ended the year ended ​ January 4, ​ ​ from January 1, ​ ​ December 31, ​ December 31, ​ through December 31 ​ ​ 2019 through ​ 2021 2020 ​ 2019 ​ ​ March 7 2019 Net loss for the period ​ $ (38,339) ​ $ (6,780) ​ $ (17,878) ​ ​ $ (7,832) Less accumulated preferred dividend yield ​ ​ (4,205) ​ ​ (16,900) ​ ​ (10,932) ​ ​ ​ — Total ​ (42,544) ​ (23,680) ​ ​ (28,810) ​ ​ ​ (7,832) Weighted average number of shares (thousands) ​ 99,261 ​ 21,439 ​ ​ 14,505 ​ ​ ​ 171 Basic and diluted loss per share ​ $ (0.43) $ (1.10) ​ $ (1.99) ​ ​ $ (45.80) ​ As of December 31, 2020, December 31, 2019 and March 7, 2019, Successor and Predecessor do not hold any potential dilutive shares nor any antidilutive shares; therefore, there are no differences with the basic earnings (loss) per share. As of December 31, 2021, the Successor Company has the following potential common shares that can be potentially dilutive but are anti-dilutive for the periods presented and are therefore excluded from the weighted average number of common shares for the purpose of diluted profit/(loss) per share: i. 442,789 outstanding stock options related to the 2021 Incentive Award Plan (See note 20). ii. 335,449 restricted stock units related to the to the 2021 Incentive Award Plan (See note 20). The Successor 2020, and Successor 2019 have been adjusted to reflect the impact of the reverse share split that occurred on March 16, 2021. The Predecessor 2019 audited historical financial statements are unaffected by the reverse share split.

Subsequent events

Subsequent events	12 Months Ended
	Dec. 31, 2021
Subsequent events
Subsequent events	24. The Company evaluated subsequent events through March 17, 2022, the date on which these financial statements were issued, and the management determined that other than those that have been disclosed in the consolidated financial statements, there are no subsequent events that require recognition and disclosure in the consolidated financial statements.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Significant Accounting Policies
Basis of preparation	2.1 Basis of preparation The Successor consolidated financial statements, comprise the consolidated balance sheet of Successor as of December 31, 2021 and 2020; the related consolidated statements of income and other comprehensive income, consolidated statements of changes in equity and consolidated statements of cash flows for the year ended December 31, 2021 and 2020, for the period from January 4, 2019 (date of incorporation) through December 31 2019 (the “Successor Consolidated Financial Statements”). The Predecessor consolidated financial statements, comprise the consolidated statement of income and other comprehensive income, consolidated statement of changes in equity, and consolidated statement of cash flows for the period from January 1, 2019 through March 7, 2019 (the “Predecessor Consolidated Financial Statements”). The Predecessor Consolidated Financial Statements and the Successor Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). As a result of the Olink Acquisition on March 7, 2019, Successor carries forward and continues to operate the Predecessor business as of that date. The Successor and Predecessor consolidated financial statements have been prepared with a “black line presentation”, whereby a vertical black line separates the Successor and the Predecessor consolidated financial statements. In addition, relevant footnotes have been presented for the Successor and Predecessor with the “black line presentation” to distinctly highlight the periods pre and post-acquisition and their lack of comparability. The preparation of consolidated financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the respective accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in note 3. The Predecessor adopted IFRS as of January 1, 2018 and the Successor adopted IFRS from January 4, 2019, the date of its inception. As such, IFRS 1, First Time Adoption of IFRS disclosure requirements are not presented in the Successor or Predecessor consolidated financial statements. Furthermore, the Predecessor also adopted IFRS 16 as of January 1, 2018 as required by IFRS 1. Successor and Predecessor New and amended standards and interpretations The following amendments can be applied for the first time in the annual reporting period commencing January 1, 2021: ● Covid-19-Related Rent Concessions – amendments to IFRS 16, and ● Interest Rate Benchmark Reform – Phase 2 – amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16. The amendments listed above did not have any impact on the amounts recognized in the current period and are not expected to significantly affect future periods. New and amended standards not yet effective The following new accounting standards, amendments to accounting standards and interpretations have been published but are not mandatory for December 31, 2021 reporting periods and have not been early adopted by the Company. • Reference to the Conceptual Framework – amendments to IFRS 3, • Property, Plant and Equipment - Proceeds before Intended Use– amendments to IAS 16, • Onerous Contracts - Cost of Fulfilling a Contract - amendments to IAS 37, • Annual Improvements to IFRS Standards 2018-2020– amendments to IFRS 1, IFRS 9, IFRS 16, and IFRS 41 These standards, amendments or interpretations are not expected to have a material impact on the entity in the current or future reporting periods and on foreseeable future transactions.
Basis of consolidation	2.2 Basis of consolidation The Successor and Predecessor consolidated financial statements comprise the financial statements of the Companies and its subsidiaries each period presented. Control is achieved when the Companies are exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Such subsidiaries are consolidated from the date on which control is transferred to the Companies and are deconsolidated from the date that control ceases. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the period are included in the consolidated financial statements from the date the Companies gain control until the date the Companies ceases to control the subsidiary. A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. Intra-group balances and transactions, and any unrealized income and expenses arising from intra-group transactions, are eliminated. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment. The accounting principles for subsidiaries have been changed, where applicable, to ensure a consistent application of the Companies’ accounting principles.
Business combinations	i. Business combinations Business combinations are accounted for using the acquisition accounting method. Consideration transferred, identifiable assets and liabilities assumed are measured at fair value at acquisition date. Where the consideration transferred, together with any noncontrolling interest, exceeds the fair value of the assets acquired and liabilities assumed, the excess is recorded as goodwill. The costs of effecting an acquisition are charged to the consolidated statement of income in the period in which they are incurred. Goodwill is capitalized as a separate item in the case of subsidiaries and as part of the cost of investment in the case of joint ventures and associates. Goodwill is denominated in the currency of the operation acquired.
Foreign currency translation	ii. Foreign currency translation Functional and presentation currency The Successor and Predecessor consolidated financial statements are presented in U.S. Dollars. For each subsidiary, the Companies determine the functional currency and items included in the financial statements of each subsidiary are measured using that functional currency. In all cases the functional currency of a subsidiary is that of the primary country of operations of that subsidiary. The Companies use the direct method of consolidation and on disposal of a foreign operation, the gain or loss that is reclassified to profit or loss reflects the amount that arises from using this method. Transactions and balances Foreign currency transactions of the Companies are translated into the functional currency using the exchange rates prevailing on the transaction dates. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rates of exchange at the reporting date. Non-monetary assets and liabilities measured in terms of historic cost in a foreign currency are translated into the functional currency using the exchange rates prevailing on the initial transaction dates. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates prevailing on the date when the fair value is determined. Differences arising on settlement or translation of monetary items are recognized in the consolidated statement of income. Translation of foreign subsidiaries The results and the financial position for all the Companies’ foreign subsidiaries with a functional currency other than the U.S. Dollar are translated into U.S. Dollars, as follows: ● Assets and liabilities at each balance sheet date are translated using the exchange rates prevailing at that balance sheet date; ● Period income statements are translated using the average exchange rate prevailing at the corresponding month; ● Exchange differences arising on translation for consolidation are recognized in Other Comprehensive Income (“OCI”). On disposal of a foreign operation, the component of OCI relating to that particular foreign operation is reclassified to profit or loss; and ● Goodwill and fair value adjustments arising from the acquisition of foreign operations are treated as assets and liabilities in these operations and are translated to the exchange rate at the balance sheet date.
Revenue recognition	iii. Revenue recognition The Companies receive revenue from contracts with customers from the sale of its products in the form of kits and from services. The companies also provide custom development services. Value added tax and other sales taxes are excluded from revenue. Kit and Services Revenue from the sale of kits is recognized at the point in time when control of the products has transferred to the customer according to the shipping terms. Revenue from the services is also recognized at the point in time that the results of the analysis are transferred electronically to the customer. The majority of the above contracts relate to sales orders containing single bundled performance obligations for the delivery of kits or the performance of services at fixed prices. Contracts with customers do not contain variable consideration. The Companies do not usually accept returns or give rebates. Revenue is not recognized in full until it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur. The average duration of a sales order is less than 1 month. Custom development services Revenue from the performance of custom development services is recognized over time since control is transferred to the customer based on the extent of progress towards completion of the obligation. These contracts contain a single bundled performance obligation being the provision of custom development services of panels. Custom development projects are quoted at fixed process and extend over several months. The Companies generally use an input method to determine the progress completed of custom development service arrangements because there is a direct relationship between the effort (i.e. based on costs incurred against expected total costs) and the transfer of service to the customer. The average duration of a service contracts is less than 12 months.
Research and development	iv. Research and development Expenditure on research activities is recognized in profit or loss as incurred. ​ Development expenditure is capitalized only if the expenditure can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable and the Companies intend to and has sufficient resources to complete development and to use or sell the asset. Otherwise, it is recognized in profit or loss as incurred. Subsequent to initial recognition, development expenditure is measured at cost less accumulated amortization and any accumulated impairment losses. ​ Amortization begins from the time the asset is ready for use. Depreciation is made on a straight-line basis over the useful life. The useful life is determined when the development project is finished and is estimated to 5 years.
Legal and other disputes	v. Legal and other disputes Provision is made for the anticipated settlement costs of legal or other disputes against the Companies where an outflow of resources is considered probable and a reliable estimate can be made of the likely outcome.
Leases	vi. Leases The Companies recognize right of use assets under lease arrangements in which it is the lessee. Rights to use assets owned by third parties under lease agreements are capitalized at the inception of the lease and recognized on the consolidated balance sheet. The corresponding liability to the lessor is recognized as a lease obligation within current and non-current liabilities. The carrying amount is subsequently increased to reflect interest on the lease liability and reduced by lease payments. Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. Non-lease components are accounted for separately from the lease components. At the commencement date of the lease, the Companies recognize lease liabilities measured at the present value of lease payments to be made over the lease term. Lease payments do not include variable lease payments, which are expensed as incurred unless they depend on an index or rate. In calculating the present value of lease payments, the Companies use their incremental borrowing rate (“IBR”) at the lease commencement date because the interest rate implicit in the lease is not readily determinable. The IBR is calculated at the rate of interest at which the Companies would have been able to borrow for a similar term and with a similar security to obtain a similar asset in a similar market. If modifications or reassessments occur, the lease liability and right of use asset are re-measured. Right-of-use assets are generally depreciated over the shorter of the asset’s useful life and the lease term on a straight-line basis. If the Companies are reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the underlying asset’s useful life. Payments associated with short-term leases and leases of low-value assets are recognized on a straight-line basis as an expense in profit or loss.
Intangible assets	vii. Intangible assets Goodwill Goodwill is stated at cost less impairments. Goodwill is deemed to have an indefinite useful life and is tested for impairment at least annually. Other intangible assets Intangible assets are stated at cost less provisions for amortization and impairments. Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Licenses separately acquired or acquired as part of a business combination are amortized over their estimated useful lives, using the straight-line basis, from the time they are available for use. Customer relationships and technology acquired as part of a business combination are amortized over their estimated useful lives, using the straight-line basis. Brands acquired as part of a business combination are deemed to have indefinite useful lives. The acquired brands are well-established within the industry, as evidenced by continued demand from and collaboration with blue chip research institutions. Further, the business is expected to operate under these brands for the foreseeable future, thus supporting the indefinite classification. These intangible assets are not amortized, but are tested for impairment annually, either individually or at the cash- generating unit level. The assessment of indefinite life is reviewed annually to determine whether the indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite is made on a prospective basis. Licenses and customer relationships have estimated useful lives of 10 years and research and development technology have estimated useful lives of 15 years. Asset lives are reviewed, and where appropriate adjusted, annually.
Property, plant and equipment	viii. Property, plant and equipment Property, plant and equipment (PP&E) includes leasehold improvements; plant and machinery; furniture fittings and equipment; and assets under construction. PP&E is stated at the cost of purchase or construction, less provisions for depreciation and impairment. Depreciation is calculated to write off the cost less residual value of PP&E, excluding freehold land, using the straight-line basis over the expected useful life. Residual values and lives are reviewed, and where appropriate adjusted annually. The normal expected useful lives of the major categories of PP&E are: ​ ​ ​ ● Leasehold improvements 5 years ● Plant and machinery 5 years ● Furniture, fittings and equipment 5 years ​ On disposal of PP&E, the cost and related accumulated depreciation and impairments are removed from the balance sheet and the net amount, less any proceeds, is recognized in the income statement.
Impairment of non-current assets	ix. Impairment of non-current assets The carrying values of all non-current assets are reviewed for impairment, either on a stand-alone basis or as part of a larger cash generating unit (“CGU”), when there is an indication that the assets might be impaired. Additionally, goodwill, intangible assets with indefinite useful lives and intangible assets which are not yet available for use are tested for impairment annually. Any provision for impairment is charged to the income statement. Impairments of goodwill are not reversed. Impairment losses on other non-current assets are only reversed if there has been a change in estimates used to determine recoverable amounts and only to the extent that the revised recoverable amounts do not exceed the carrying values that would have existed, net of depreciation or amortization, had no impairments been recognized.
Inventories	x. Inventories Inventories are stated at the lower of cost and net realizable value. Cost comprises direct materials, direct labor and an appropriate proportion of variable and fixed overhead expenditure, the latter being allocated on the basis of normal operating capacity. Cost is generally determined on a first in, first out basis.
Financial instruments	xi. Financial instruments Financial assets Financial assets are measured at amortized cost, fair value through other comprehensive income (“FVTOCI”) or fair value through profit or loss (“FVTPL”). The measurement basis is determined by reference to both the business model for managing the financial asset and the contractual cash flow characteristics of the financial asset. For financial assets other than trade receivables a 12-month expected credit loss (“ECL”) allowance is recorded on initial recognition. If there is subsequent evidence of a significant increase in the credit risk of an asset, the allowance is increased to reflect the full lifetime ECL. If there is no realistic prospect of recovery, the asset is written off. ECLs are recognized in the income statement on financial assets measured at amortized cost and at fair value through other comprehensive income apart from equity investments. Trade receivables Trade receivables are measured at amortized cost and are carried at the original invoice amount less ECL allowance. The ECL allowance is calculated using a provision matrix applying lifetime historical credit loss experience to the trade receivables. The expected credit loss rate varies depending on whether, and the extent to which, settlement of the trade receivables is overdue, and it is also adjusted as appropriate to reflect current economic conditions and estimates of future conditions. For the purpose of determining credit loss rates, customers are classified into groupings that have similar loss patterns. The key drivers of the loss rate are the nature of the business, location and type of customer. When a trade receivable is determined to have no reasonable expectation of recovery it is written off against any ECL allowance available and then to the income statement. Subsequent recoveries of amounts previously provided for or written off are credited to the income statement. Long-term receivables are discounted where the effect is material. Cash and cash equivalents Cash and cash equivalents are measured at amortized cost and includes cash on hand and deposits held at call with financial institutions. anies have various defined contribut Bank overdrafts are shown within interest-bearing liabilities in current liabilities in the consolidated balance sheet. Financial liabilities Financial liabilities are classified, at initial recognition, as financial liabilities at FVTPL, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. All financial liabilities are recognized initially at fair value and, in the case of loans, borrowings and payables, net of directly attributable transaction costs. The Companies’ financial liabilities include trade and other payables, loans and borrowings (including bank overdrafts). Loans and borrowings are subsequently carried at amortized cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognized as a charge to the consolidated statements of other comprehensive income over the period of the relevant borrowing. Derivative financial instruments The Companies do not currently enter into derivative financial instruments. ​ Derecognition of financial assets and liabilities ​ Financial assets are derecognized when the contractual rights to the cash flows from the financial asset expire or transfer and the Group has transferred substantially the risks and rewards of ownership. Financial liabilities are derecognized when the contractual obligations are discharged or cancelled or expired. When the terms of a financial liability are modified, and not derecognized, the gain or loss is recognized in the statement of income and other comprehensive income. The gain or loss is the difference between the original contractual cash flows and the modified cash flows discounted to the original effective interest rate.
Pension obligations	xii. Pension obligations The Companies operate defined-contribution plans for the benefit of its employees. The Companies’ contributions to defined contribution plans are expensed as incurred.
Share-based payments	xiii. Share-based payments ​ Share-based compensation benefits are provided to employees, consultants and directors via the Companies 2021 Incentive Award Plan, including stock options (ISO), restricted stock unit awards (RSU) and performance based restricted stock unit awards. Information relating to these schemes is set out in note 20. Stock options The fair value of options granted under the stock options program is recognized as an employee benefits expense, with a corresponding increase in equity. The total amount to be expensed is determined by reference to the fair value of the options granted and taking into consideration any impact from service conditions. The total expense is recognized over the vesting period of four years, which is the period over which the vesting conditions are to be satisfied. At the end of each period, the Company revises its estimates of the number of options that are expected to vest based on the service conditions. It recognizes the impact of the revision to original estimates, if any, in profit or loss, with a corresponding adjustment to equity. Restricted stock units Under the employee restricted stock units scheme, the RSU’s will vest during a four- year period and new shares will be issued when the RSU vest for no cash consideration. Over the vesting period, the market value of the RSU’s is recognized as an employee benefits expense, with a corresponding increase in equity. The total expense is recognized over the vesting period of four years, which is the period over which the vesting conditions are to be satisfied. At the end of each period, the Company revises its estimates of the number of options that are expected to vest based on the service conditions. It recognizes the impact of the revision to original estimates, if any, in profit or loss, with a corresponding adjustment to equity.
Current and deferred income tax	xiv. Current and deferred income tax Current income tax is provided at the amounts expected to be paid, applying tax rates that have been enacted or substantively enacted by the balance sheet date. Deferred income tax results from temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred income tax assets are recognized to the extent that it is probable that future taxable profits will be available against which the temporary differences can be utilized. Deferred income tax based on temporary differences arising on investments in subsidiaries, associates and joint ventures, except where the timing of the reversal of the temporary difference can be controlled and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred income tax is provided using rates of tax that have been enacted or substantively enacted by the balance sheet date. Where an uncertain tax position is identified, management will make a judgement as to what the probable outcome will be, assuming the relevant tax authority has full knowledge of the situation. When an economic outflow is probable to arise, a provision is made for the best estimate of the liability. In estimating any such liability, the Companies applies a risk-based approach which accounts for the probability that the Companies would be able to obtain compensatory adjustments under international tax treaties. These estimates consider the specific circumstances of each dispute and relevant external advice.
Government grants	xv. Government grants Government grants related to assets are initially recognized as deferred income at fair value if there is reasonable assurance that they will be received, and the Companies will comply with the conditions associated with the grant; they are then recognized in profit or loss as other income on a systematic basis over the useful life of the asset. ​ Grants that compensate the Companies for expenses incurred are recognized in profit or loss as other income on a systematic basis in the periods in which the expenses are recognized, unless the conditions for receiving the grant are met after the related expenses have been recognized. In this case, the grant is recognized when it becomes receivable.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Significant Accounting Policies
Summary of expected useful lives	​ ​ ​ ● Leasehold improvements 5 years ● Plant and machinery 5 years ● Furniture, fittings and equipment 5 years

Financial risk management (Tabl

Financial risk management (Tables)	12 Months Ended
	Dec. 31, 2021
Financial risk management
Summary of exposure to currency risk from monetary assets and liabilities denominated in foreign currencies	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 USD’000 U.S.$ EUR GBP CNY Trade receivables $ 31,641 $ 6,517 ​ $ 1,695 ​ $ 690 Trade payable ​ 2,918 ​ 1,379 ​ ​ 219 ​ ​ 378 Interest-bearing loans and borrowings ​ — ​ — ​ ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2020 USD’000 U.S.$ EUR GBP CNY Trade receivables $ 22,683 $ 3,722 ​ $ 1,587 ​ $ 30 Trade payable ​ 2,740 ​ 305 ​ ​ 219 ​ ​ — Interest-bearing loans and borrowings ​ 58,359 ​ 5,454 ​ ​ — ​ ​ — ​
Summary of risk exposure in foreign currencies	​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2021 Impact of non-functional currency foreign exchange exposures (Amounts in thousands of U.S. Dollars) (Increase)/decrease in loss before tax USD/SEK exchange rate - increase 3% ​ $ 908 USD/SEK exchange rate - decrease 3% ​ ​ (908) ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ 2020 Impact of non-functional currency foreign exchange exposures (Amounts in thousands of U.S. Dollars) ​ (Increase)/decrease in loss before tax USD/SEK exchange rate - increase 3% ​ $ (1,016) USD/SEK exchange rate - decrease 3% ​ ​ 1,016 ​
Summary of analysis of the Company's financial liabilities, grouped according to their maturity dates based on contractual undiscounted payments	The following table includes an analysis of the Company’s financial liabilities, grouped according to their maturity dates based on contractual undiscounted payments and considers the period remaining until their contractual maturity date as at December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ than ​ 1 to 3 ​ 3 to 5 ​ More than As per December 31, 2021 Total 1 year years years 5 years Loan facilities (Note 15.1) ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Lease liabilities (Note 15.1) ​ 8,379 ​ 2,952 ​ 3,124 ​ 2,262 ​ 40 Advance invoiced customers (Note 15.2) ​ 5,447 ​ 5,447 ​ — ​ — ​ — Accounts payable (Note 15.2) ​ 8,668 ​ 8,668 ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ than ​ 1 to 3 ​ 3 to 5 ​ More than As per December 31, 2020 Total 1 year years years 5 years Loan facilities (Note 15.1) $ 98,332 ​ $ — ​ $ — ​ $ 98,332 ​ $ — Lease liabilities (Note 15.1) ​ 5,394 ​ 2,428 ​ 2,629 ​ 108 ​ 229 Advance invoiced customers (Note15.2) ​ 7,367 ​ 7,367 ​ — ​ — ​ — Accounts payable (Note 15.2) ​ 6,658 ​ 6,658 ​ — ​ — ​ —

Segment and revenue informati_2

Segment and revenue information (Tables)	12 Months Ended
	Dec. 31, 2021
Segment and revenue information
Schedule of key financial information by segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Predecessor For ​ ​ ​ ​ ​ ​ ​ ​ Successor ​ ​ the period from ​ ​ Successor for the ​ Successor for the ​ For the year ​ ​ January 1, 2019 ​ ​ year ended ​ year ended ​ ended ​ ​ through Amounts in thousands of US Dollars December 31, 2021 December 31, 2020 December 31, 2019 ​ ​ March 7, 2019 Kit ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue from external customers $ 26,797 $ 14,759 $ 11,067 ​ $ 1,829 Total segment revenue ​ 26,797 ​ 14,759 ​ 11,067 ​ ​ 1,829 Cost of goods sold ​ (4,112) ​ (2,671) ​ (2,430) ​ ​ (106) Gross profit $ 22,685 $ 12,088 $ 8,637 ​ $ 1,723 Service ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue from external customers ​ 60,221 ​ 34,404 ​ 27,739 ​ ​ 2,480 Total segment revenue ​ 60,221 ​ 34,404 ​ 27,739 ​ ​ 2,480 Cost of goods sold ​ (28,299) ​ (12,114) ​ (9,146) ​ ​ (938) Gross profit $ 31,922 $ 22,290 $ 18,593 ​ $ 1,542 Total segments ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue from external customers ​ 87,018 ​ 49,163 ​ 38,806 ​ ​ 4,309 Total segment revenue ​ 87,018 ​ 49,163 ​ 38,806 ​ ​ 4,309 Cost of goods sold ​ (32,411) ​ (14,785) ​ (11,576) ​ ​ (1,044) Gross profit $ 54,607 $ 34,378 $ 27,230 ​ $ 3,265 Corporate / Unallocated ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue from external customers ​ 7,955 ​ 4,904 ​ 2,887 ​ ​ 316 Total segment revenue ​ 7,955 ​ 4,904 ​ 2,887 ​ ​ 316 Cost of goods sold ​ (4,353) ​ (2,671) ​ (1,442) ​ ​ (210) Gross profit $ 3,602 $ 2,233 $ 1,445 ​ $ 106 Consolidated ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue from external customers ​ 94,973 ​ 54,067 ​ 41,693 ​ ​ 4,625 Total segment revenue ​ 94,973 ​ 54,067 ​ 41,693 ​ ​ 4,625 Cost of goods sold ​ (36,764) ​ (17,456) ​ (13,018) ​ ​ (1,254) Gross profit $ 58,209 $ 36,611 $ 28,675 ​ $ 3,371 ​
Schedule of disaggregation of revenue from contracts with customers	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate / ​ ​ ​ As per December 31, 2021 ​ Kit ​ Services ​ Unallocated ​ Total Sweden $ 2,072 $ 3,155 ​ $ 1,467 ​ $ 6,694 Americas ​ 12,170 ​ 27,105 ​ ​ 3,068 ​ ​ 42,343 EMEA (excluding Sweden) ​ 10,381 ​ 26,612 ​ ​ 1,754 ​ ​ 38,747 China ​ 1,908 ​ 148 ​ ​ 717 ​ ​ 2,773 Japan ​ 182 ​ 2,605 ​ ​ 195 ​ ​ 2,982 Rest of world ​ 84 ​ 596 ​ ​ 754 ​ ​ 1,434 Total ​ $ 26,797 ​ $ 60,221 ​ $ 7,955 ​ $ 94,973 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate / ​ ​ ​ As per December 31, 2020 ​ Kit ​ Services ​ Unallocated ​ Total Sweden $ 4,029 ​ $ 2,307 ​ $ 884 ​ $ 7,220 Americas ​ 6,824 ​ ​ 19,268 ​ ​ 1,715 ​ ​ 27,807 EMEA (excluding Sweden) ​ 2,858 ​ ​ 10,906 ​ ​ 1,166 ​ ​ 14,930 China ​ 374 ​ ​ 101 ​ ​ 193 ​ ​ 668 Japan ​ 88 ​ ​ 1,369 ​ ​ 90 ​ ​ 1,547 Rest of world ​ 586 ​ ​ 453 ​ ​ 856 ​ ​ 1,895 Total ​ $ 14,759 ​ $ 34,404 ​ $ 4,904 ​ $ 54,067 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate / ​ From January 4, 2019 through December 31, 2019 ​ Kit ​ Services Unallocated ​ Total Sweden ​ $ 1,314 ​ $ 1,716 ​ $ 749 ​ $ 3,779 Americas ​ 6,266 ​ 19,431 ​ 1,449 ​ 27,146 EMEA (excluding Sweden) ​ 2,958 ​ 5,975 ​ 656 ​ 9,589 China ​ 465 ​ 69 ​ 10 ​ 544 Japan ​ 64 ​ 301 ​ 16 ​ 381 Rest of world ​ — ​ 247 ​ 7 ​ 254 Total ​ $ 11,067 ​ $ 27,739 ​ $ 2,887 ​ $ 41,693 ​ Predecessor ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Corporate / ​ ​ From January 1, 2019 through March 7, 2019 ​ Kit ​ Services ​ Unallocated ​ Total Sweden ​ $ 512 ​ $ 203 ​ $ 88 ​ $ 803 Americas ​ 901 ​ 1,529 ​ 158 ​ 2,588 EMEA (excluding Sweden) ​ 317 ​ 748 ​ 64 ​ 1,129 China ​ — ​ — ​ — ​ — Japan ​ 99 ​ — ​ 6 ​ 105 Rest of world ​ — ​ — ​ — ​ — Total ​ $ 1,829 ​ $ 2,480 ​ $ 316 ​ $ 4,625
Schedule of non-current operating assets are distributed by geography	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ December 31, ​ 2021 2020 Sweden $ 327,404 ​ $ 355,179 Rest of World ​ 11,707 ​ ​ 2,799 Total $ 339,111 ​ $ 357,978

Operating expenses by nature (T

Operating expenses by nature (Tables)	12 Months Ended
	Dec. 31, 2021
Operating expenses by nature
Schedule of operating expenses by nature	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Successor ​ Successor ​ ​ ​ ​ ​ ​ ​ ​ ​ for the year ​ for the year Successor from ​ ​ ​ ​ ​ ​ ended ​ ended ​ January 4, 2019 ​ ​ Predecessor from ​ ​ December ​ December ​ through December ​ ​ January 1, 2019 ​ 31, 2021 31, 2020 31, 2019 through March 7, 2019 Included in cost the costs of good sold ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost of inventories recognized as an expense $ 28,988 ​ $ 12,760 $ 10,681 ​ ​ $ 840 Depreciation of tangible assets (Note 13, 14.2) ​ 2,964 ​ ​ 1,540 ​ 324 ​ ​ ​ 40 Amortization of intangible assets (Note 12) ​ ​ 28 ​ ​ 0 ​ ​ 0 ​ ​ ​ 0 Employee benefits (Note 7) ​ 4,783 ​ ​ 3,156 ​ 2,006 ​ ​ ​ 373 Included in selling expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation of tangible assets (Note 13, 14.2) ​ 537 ​ ​ 357 ​ 134 ​ ​ ​ 19 Amortization of intangible assets (Note 12) ​ 2 ​ ​ 11 ​ 5 ​ ​ ​ 1 Employee benefits (Note 7) ​ 23,077 ​ ​ 9,758 ​ 4,793 ​ ​ ​ 8,676 Included in administrative expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation of tangible assets (Note 13, 14.2) ​ 463 ​ ​ 293 ​ 781 ​ ​ ​ 106 Amortization of intangible assets (Note 12) ​ 10,455 ​ ​ 9,736 ​ 7,831 ​ ​ ​ — Employee benefits (Note 7) ​ 7,191 ​ ​ 3,519 ​ 2,309 ​ ​ ​ 419 Included in research and development expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation of tangible assets (Note 13, 14.2) ​ 749 ​ ​ 478 ​ 83 ​ ​ ​ 20 Amortization of intangible assets (Note 12) ​ 604 ​ ​ 125 ​ — ​ ​ ​ — Employee benefits (Note 7) ​ 8,613 ​ ​ 3,359 ​ 2,171 ​ ​ ​ 439

Employee benefits (Tables)

Employee benefits (Tables)	12 Months Ended
	Dec. 31, 2021
Employee benefits
Schedule of employee benefits	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Successor ​ Successor ​ ​ ​ ​ ​ ​ ​ ​ ​ for the year ​ for the year Successor from ​ ​ ​ ​ ​ ​ ended ​ ended ​ January 4, 2019 ​ ​ Predecessor from ​ ​ December ​ December ​ through December ​ ​ January 1, 2019 ​ 31, 2021 31, 2020 31, 2019 through March 7, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Salaries and wages $ 32,307 ​ $ 15,269 ​ $ 8,956 ​ ​ $ 9,423 Share-based payments ​ ​ 2,524 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Social security costs ​ 6,148 ​ ​ 2,935 ​ ​ 1,649 ​ ​ ​ 352 Pension costs - defined contribution plans ​ 2,685 ​ ​ 1,588 ​ ​ 674 ​ ​ ​ 132 Total employee benefits $ 43,664 ​ $ 19,792 ​ $ 11,279 ​ ​ $ 9,907

Financial income and expenses (

Financial income and expenses (Tables)	12 Months Ended
	Dec. 31, 2021
Financial income and expenses
Schedule of reconciliation of financial income and expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Successor ​ Successor ​ ​ ​ ​ ​ ​ for the year ​ for the year Successor from ​ ​ ​ ​ ended ​ ended ​ January 4, 2019 ​ Predecessor ​ ​ December ​ December ​ through December ​ from January 1, 2019 ​ ​ 31, 2021 ​ 31, 2020 ​ 31, 2019 through March 7, 2019 ​ ​ ​ ​ ​ ​ ​ Interest income $ 98 $ — $ 7 $ — Interest expense on loans and other borrowings (1,760) (6,355) ​ (6,423) ​ — Interest expense on lease liabilities (386) (276) ​ (176) ​ (27) Total interest income/(expense) (2,048) (6,631) ​ (6,592) ​ (27) Total foreign exchange gain/(loss) 1,874 5,455 ​ 18 ​ 242 Other financial expenses (1,719) (713) ​ (1,293) ​ — Total other financial income/(expenses) (1,719) (713) ​ (1,293) ​ — Financial items - net $ (1,893) $ (1,889) $ (7,867) $ 215 ​ ​ ​ ​ ​ ​ ​

Income tax (Tables)

Income tax (Tables)	12 Months Ended
	Dec. 31, 2021
Income tax
Schedule of major components of income tax expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Successor ​ Successor ​ ​ ​ ​ ​ ​ ​ ​ ​ for the year ​ for the year Successor from ​ ​ ​ ​ ​ ​ ended ​ ended ​ January 4, 2019 ​ ​ Predecessor from ​ ​ December ​ December ​ through December ​ ​ January 1, 2019 ​ 31, 2021 31, 2020 31, 2019 through March 7, 2019 Current tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current tax on profit for the year $ (308) $ (1,231) ​ $ (1,372) ​ ​ $ (123) Total current tax expense ​ (308) ​ (1,231) ​ ​ (1,372) ​ ​ ​ (123) Deferred income tax ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Decrease/(increase) in deferred tax assets ​ 5,324 ​ 54 ​ ​ 13 ​ ​ ​ (2) (Decrease)/increase in deferred tax liabilities ​ 3,190 ​ 1,656 ​ ​ 2,011 ​ ​ ​ (207) Total deferred tax expense/(benefit) ​ 8,514 ​ 1,710 ​ ​ 2,024 ​ ​ ​ (209) Income tax (expense)/benefit $ 8,206 $ 479 ​ $ 652 ​ ​ $ (332)
Schedule of reconciliation between reported tax expense for each period and the theoretical tax expense that would arise when applying statutory tax rate	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Successor ​ Successor ​ ​ ​ ​ ​ ​ ​ ​ ​ for the year ​ for the year Successor from ​ ​ ​ ​ ​ ​ ended ​ ended ​ January 4, 2019 ​ ​ Predecessor from ​ ​ December ​ December ​ through December ​ ​ January 1, 2019 ​ 31, 2021 31, 2020 31, 2019 through March 7, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss before tax $ (46,545) ​ $ (7,259) $ (18,530) ​ ​ $ (7,500) Income tax calculated according to tax rate in Sweden 20.6 % 2021/21.4% 2020, 2019 ​ ​ 9,588 ​ ​ 1,553 ​ 3,965 ​ ​ ​ 1,605 Tax effects from: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-deductible costs ​ (1,542) ​ ​ (1,143) ​ (3,019 ​ ​ ​ (1,909) Previously unrecognized tax losses used to reduce current tax expenses ​ 184 ​ ​ 70 ​ (244) ​ ​ ​ (28) Differences in overseas tax rates ​ (24) ​ ​ (22) ​ (50) ​ ​ ​ — Other ​ — ​ ​ 21 ​ — ​ ​ ​ — Income tax $ 8,206 ​ $ 479 $ 652 ​ ​ $ (332)
Schedule of deferred tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease ​ ​ ​ ​ ​ ​ Deferred tax assets ​ Liabilities ​ Tax losses ​ Other ​ Total Predecessor as of January 1, 2019 ​ $ 11 ​ ​ — ​ ​ — ​ $ 11 Recognized in the statement of comprehensive income ​ 2 ​ ​ — ​ — ​ ​ 2 Predecessor as of March 7, 2019 ​ $ 13 ​ ​ — ​ — ​ $ 13 Through acquisitions - Purchase price allocation ​ — ​ ​ — ​ — ​ ​ — Recognized in the statement of comprehensive income ​ 13 ​ ​ — ​ — ​ ​ 13 Net to deferred tax liability ​ ​ (3) ​ ​ — ​ ​ — ​ ​ (3) Successor as of December 31, 2019 ​ $ 10 ​ ​ — ​ ​ — ​ $ 10 Through acquisitions - Purchase price allocation ​ ​ — ​ ​ — ​ ​ — ​ ​ — Recognized in the statement of comprehensive income ​ ​ 54 ​ ​ — ​ ​ — ​ ​ 54 Net to deferred tax liability ​ ​ (31) ​ ​ — ​ ​ — ​ ​ (31) Exchange differences ​ ​ 4 ​ ​ — ​ ​ — ​ ​ 4 Balance as of December 31, 2020 ​ $ 37 ​ ​ — ​ ​ — ​ $ 37 Recognized in the statement of comprehensive income ​ 113 ​ ​ 4,935 ​ 276 ​ ​ 5,324 Recognized in statement of Equity ​ — ​ ​ — ​ 3,825 ​ ​ 3,825 Net to deferred tax liability ​ ​ — ​ ​ — ​ ​ — ​ ​ — Exchange differences ​ ​ (6) ​ ​ (223) ​ ​ 134 ​ ​ (95) Balance as of December 31, 2021 ​ $ 144 ​ $ 4,712 ​ $ 4,235 ​ $ 9,091 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred tax Intangibles & Other ​ ​ ​ ​ on untaxed ​ Inventory ​ Temporary ​ ​ ​ Deferred tax liabilities ​ reserves ​ Valuation ​ Differences ​ Total Predecessor as of January 1, 2019 ​ $ 501 ​ $ — ​ $ 160 ​ $ 661 Recognized in the statement of comprehensive income ​ 43 ​ — ​ 164 ​ 207 Exchange differences ​ (19) ​ — ​ (3) ​ (22) Predecessor as of March 7, 2019 ​ $ 525 ​ $ — ​ $ 321 ​ $ 846 Purchase Price Allocation ​ 525 ​ 31,615 ​ 321 ​ 32,461 Recognized in the statement of comprehensive income ​ 365 ​ (2,225) ​ (151) ​ (2,011) Recognized in other comprehensive income ​ — ​ — ​ — ​ — Net from deferred tax asset ​ (3) ​ — ​ — ​ (3) Exchange differences ​ 8 ​ (107) ​ (3) ​ (102) Successor as of December 31, 2019 ​ $ 895 ​ $ 29,283 ​ $ 167 ​ $ 30,345 Purchase Price Allocation ​ — ​ 503 ​ — ​ 503 Recognized in the statement of comprehensive income ​ 135 ​ (2,173) ​ 382 ​ (1,656) Recognized in other comprehensive income ​ — ​ — ​ — ​ — Net from deferred tax asset ​ — ​ — ​ (31) ​ (31) Exchange differences ​ 140 ​ 3,868 ​ 24 ​ 4,032 Successor as of December 31, 2020 ​ $ 1,170 ​ $ 31,481 ​ $ 542 ​ $ 33,193 Recognized in the statement of comprehensive income ​ (1,116) ​ (2,206) ​ 133 ​ (3,190) Recognized in other comprehensive income ​ — ​ — ​ — ​ — Net from deferred tax asset ​ — ​ — ​ — ​ — Exchange differences ​ (54) ​ (2,864) ​ 6 ​ (2,912) Successor as of December 31, 2021 ​ $ 0 ​ $ 26,411 ​ $ 681 ​ $ 27,092

Investments in subsidiaries (Ta

Investments in subsidiaries (Tables)	12 Months Ended
	Dec. 31, 2021
Investments in subsidiaries
Schedule of subsidiaries	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Share of ​ ​ ​ ​ ​ ​ common shares ​ ​ ​ ​ Country of ​ owned by the ​ ​ ​ ​ registration ​ Company (%) Name Principle Activities and operation 2021 2020 Knilo BidCo AB Holding Company/ Management services Sweden 100 % 100 % Olink Proteomics Holding AB Holding Company Sweden 100 % 100 % Olink Proteomics AB Sales, production, and research & development Sweden 100 % 100 % Agrisera AB Production, and research & development Sweden 100 % 100 % Olink Proteomics Inc. Marketing coordination and sales services USA 100 % 100 % Olink Proteomics Ltd Marketing coordination and sales services UK 100 % 100 % Olink Proteomics B.V Marketing coordination and sales services Netherlands 100 % 100 % Olink Proteomics GmbH . Marketing coordination and sales services Germany 100 % 100 % Olink Proteomics KK Marketing coordination and sales services Japan 100 % 100 % Olink Biotech (Shanghai) Co., Ltd Marketing coordination and sales services China 100 % 100 %

Business combinations (Tables)

Business combinations (Tables)	12 Months Ended
	Dec. 31, 2021
Business combinations
Schedule of fair value of the assets and liabilities	The fair value of the assets and liabilities recognized as a result of the acquisition are as follows: ​ ​ ​ ​ ​ Assets ​ ​ Intangible assets, excluding goodwill ​ $ 149,831 Property plant and equipment ​ 2,597 Right-of-use assets ​ 2,740 Financial assets ​ 64 Inventories ​ 9,104 Accounts receivables ​ 4,075 Other receivables ​ 9,794 Prepaid expenses and contract assets ​ 466 Cash at bank and in hand ​ 10,187 ​ ​ $ 188,858 Liabilities ​ Lease liabilities ​ $ 2,682 Deferred tax liabilities ​ 32,461 Accounts payable ​ 1,835 Current tax liabilities ​ 1,321 Other current liabilities ​ 8,945 Accrued expenses and contract liabilities ​ 3,355 ​ ​ $ 50,599 Total identifiable net assets at fair value ​ $ 138,259 Goodwill arising upon acquisition (Note 12) ​ 161,123 Purchase Consideration Transferred ​ $ 299,382
Schedule of purchase consideration cash outflow	​ ​ ​ ​ ​ Cash consideration $ 299,382 Less: Balances acquired ​ Cash ​ 10,187 Net outflow of cash - investing activities ​ $ 289,195

Goodwill and other intangible_2

Goodwill and other intangible assets (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill and other intangible assets
Schedule of changes in goodwill and other intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Brand ​ ​ ​ ​ ​ ​ ​ ​ Customer ​ ​ ​ and ​ Development ​ ​ ​ Goodwill relation Technology Licenses Cost Total As of December 31, 2019 ​ 160,843 ​ 38,626 ​ 86,323 ​ 24,632 ​ — ​ 310,424 Purchase Price Allocation ​ 2,506 ​ 1,359 ​ 654 ​ 180 ​ — ​ 4,699 Additions — — — 127 7,664 7,791 Translation differences 22,671 5,597 12,028 3,446 950 44,692 As of December 31, 2020 186,020 45,582 99,005 28,385 8,614 367,606 Additions ​ — ​ — ​ — ​ 593 ​ 3,733 ​ 4,326 Translation differences ​ (17,589) ​ (4,310) ​ (9,361) ​ (2,712) ​ (1,005) ​ (34,977) As of December 31, 2021 ​ 168,431 ​ 41,272 ​ 89,644 ​ 26,266 ​ 11,342 ​ 336,955 Amortization and impairment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2019 ​ — ​ 3,219 ​ 4,796 ​ 5 ​ — ​ 8,020 Amortization ​ — ​ 4,005 ​ 5,856 ​ 11 ​ — ​ 9,872 Translation differences ​ — ​ 940 ​ 1,386 ​ 1 ​ — ​ 2,327 As of December 31, 2020 ​ — ​ 8,164 ​ 12,038 ​ 17 ​ — ​ 20,219 Amortization ​ — ​ 4,349 ​ 6,297 ​ 41 ​ 401 ​ 11,088 Translation differences ​ — ​ (995) ​ (1,459) ​ (3) ​ (19) ​ (2,476) As of December 31, 2021 ​ — ​ 11,518 ​ 16,876 ​ 55 ​ 382 ​ 28,831 Net Book Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 ​ 168,431 ​ 29,754 ​ 72,768 ​ 26,211 ​ 10,960 ​ 308,124 As of December 31, 2020 186,020 37,418 86,967 28,368 8,614 347,387
Schedule of test of goodwill and indefinite lived assets impairment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 ​ Kit ​ Services ​ Total Goodwill $ 134,189 $ 34,242 $ 168,431 Brands ​ 15,338 ​ 10,176 ​ 25,514 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2020 Kit Services Total Goodwill ​ $ 147,067 ​ $ 38,953 ​ $ 186,020 Brands ​ 16,858 ​ 11,320 ​ 28,178

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
	Dec. 31, 2021
Property, plant and equipment.
Schedule of changes in property, plant and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in progress for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Furniture, ​ ​ property, plant ​ ​ ​ ​ ​ ​ Leasehold ​ ​ Plant and ​ ​ fittings and ​ ​ and ​ ​ ​ ​ ​ improvement ​ machinery ​ equipment ​ equipment ​ Total As of December 31, 2019 ​ $ 530 ​ $ 1,176 ​ $ 1,421 ​ $ 84 ​ $ 3,211 Purchase Price Allocation ​ ​ — ​ ​ 44 ​ ​ 63 ​ ​ — ​ ​ 107 Additions ​ ​ 123 ​ ​ 1,561 ​ ​ 1,303 ​ ​ 473 ​ ​ 3,460 Transfers ​ ​ — ​ ​ 368 ​ ​ 124 ​ ​ (492) ​ ​ 0 Disposals ​ — ​ — ​ — ​ — ​ 0 Translation differences ​ 6 ​ 244 ​ 383 ​ 11 ​ 644 As of December 31, 2020 ​ 659 ​ 3,393 ​ 3,294 ​ 76 ​ 7,422 Additions ​ 3,147 ​ 4,836 ​ 1,180 ​ 1,319 ​ 10,482 Transfers ​ 92 ​ 200 ​ (63) ​ (597) ​ (368) Disposals ​ (569) ​ (21) ​ (495) ​ — ​ (1,085) Translation differences ​ (6) ​ (373) ​ (325) ​ (45) ​ (749) As of December 31, 2021 ​ ​ 3,323 ​ ​ 8,035 ​ ​ 3,591 ​ ​ 753 ​ ​ 15,702 Amortization and impairment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2019 ​ ​ 93 ​ ​ 202 ​ ​ 175 ​ ​ — ​ ​ 470 Depreciation for the period ​ ​ 114 ​ ​ 493 ​ ​ 458 ​ ​ — ​ ​ 1,065 Disposals ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 0 Translation differences ​ ​ — ​ ​ 33 ​ ​ 80 ​ ​ — ​ ​ 113 As of December 31, 2020 ​ ​ 207 ​ ​ 728 ​ ​ 713 ​ ​ 0 ​ ​ 1,648 Depreciation for the period ​ ​ 238 ​ ​ 1,069 ​ ​ 727 ​ ​ — ​ ​ 2,034 Transfers ​ ​ 1 ​ ​ (128) ​ ​ 59 ​ ​ — ​ ​ (68) Disposals ​ ​ (370) ​ ​ (11) ​ ​ (69) ​ ​ — ​ ​ (450) Translation differences ​ (1) ​ (55) ​ (102) ​ — ​ (158) As of December 31, 2021 ​ ​ 75 ​ ​ 1,603 ​ ​ 1,328 ​ ​ 0 ​ ​ 3,006 Net Book Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 ​ ​ 3,248 ​ ​ 6,432 ​ ​ 2,263 ​ ​ 753 ​ ​ 12,696 As of December 31,2020 $ 452 $ 2,665 $ 2,581 $ 76 $ 5,774

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases
Schedule of amounts recognized in the consolidated balance sheet	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, ​ As of December 31, ​ ​ 2021 2020 Right-of-Use Assets ​ ​ ​ ​ ​ Property ​ $ 7,195 ​ $ 3,073 Equipment ​ 1,583 ​ 1,611 Total assets ​ $ 8,778 ​ $ 4,684 Lease liabilities ​ ​ ​ Current (Note 15.1) ​ ​ 2,952 ​ ​ 2,146 Non-current (Note 15.1) ​ 5,427 ​ 2,290 Total liabilities ​ $ 8,379 ​ $ 4,436
Schedule of amounts recognized in the consolidated statement of income related to leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Successor from ​ ​ Predecessor from ​ ​ Successor ​ Successor ​ January 4, 2019 ​ ​ January 1, 2019 ​ ​ For the year ended ​ For the year ended ​ through ​ ​ through ​ December 31, 2021 December 31, 2020 December 31, 2019 March 7, 2019 Depreciation charge of right-of-use assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property ​ $ 1,611 $ 921 ​ $ 647 ​ ​ $ 100 Equipment ​ ​ 1,068 682 ​ ​ 108 ​ ​ ​ — Total depreciation of right-of-use-assets ​ ​ 2,679 1,603 ​ ​ 755 ​ ​ ​ 100 Interest expense (included in finance cost, Not 8) ​ ​ 386 276 ​ ​ 176 ​ ​ ​ 27 Total amount recognized in net loss for the period ​ $ 3,065 $ 1,879 ​ $ 931 ​ ​ $ 127

Financial instruments per cat_2

Financial instruments per category (Tables)	12 Months Ended
	Dec. 31, 2021
Financial instruments per category
Summary of financial assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December ​ As of December ​ 31, 2021 31, 2020 Current debt instruments at amortized cost ​ ​ ​ ​ Trade receivables ​ $ 42,061 $ 33,482 Other receivables ​ ​ 4,094 2,856 Total current debt instruments at amortized cost ​ ​ 46,155 36,338 Non-current debt instruments at amortized cost ​ ​ Other long-term receivables ​ ​ 422 133 Total non-current debt instruments at amortized cost ​ ​ 422 133 Total financial assets ​ $ 46,577 $ 36,471
Summary of financial liabilities, interest-bearing loans and borrowings	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December ​ Interest Rate Maturity 31, 2021 Current interest-bearing loans and borrowings ​ ​ ​ ​ Lease Liabilities (Note 14) 6.25%-11 % 2022 ​ $ 2,952 Total current interest-bearing loans and borrowings ​ ​ ​ 2,952 Non-current interest-bearing loans and borrowings ​ Lease Liabilities (Note 14) 6.25%-11 % 2022-30 ​ $ 5,427 Facilities ​ ​ ​ ​ — Total non-current interest-bearing loans and borrowings ​ ​ ​ 5,427 Total interest-bearing loans and borrowings ​ ​ ​ $ 8,379 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December ​ Interest Rate Maturity 31, 2020 Current interest-bearing loans and borrowings ​ ​ ​ ​ Lease Liabilities (Note 14) 6.25%-11 % 2021 ​ $ 2,146 Total current interest-bearing loans and borrowings ​ ​ ​ 2,146 Non-current interest-bearing loans and borrowings ​ Lease Liabilities (Note 14) 6.25%-11 % 2021-30 ​ $ 2,290 Facilities 11 % 2025 ​ 61,675 Total non-current interest-bearing loans and borrowings ​ ​ ​ 63,965 Total interest-bearing loans and borrowings ​ ​ ​ $ 66,111
Summary of other financial liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ ​ December 31, ​ December 31, ​ 2021 2020 Other financial liabilities at amortized cost ​ ​ ​ ​ Advance invoiced customers ​ ​ 5,447 ​ $ 7,367 Accounts payable ​ 8,668 ​ 6,658 Total other current financial liabilities ​ $ 14,115 $ 14,025
Summary of carrying amounts and fair values of the Company's financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 ​ ​ Carrying ​ ​ ​ ​ ​ ​ ​ Amount Level 1 Level 2 Level 3 Financial liabilities ​ ​ ​ ​ ​ ​ ​ ​ Facilities — — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2020 ​ ​ Carrying ​ ​ ​ ​ ​ ​ ​ Amount Level 1 Level 2 Level 3 Financial liabilities ​ ​ ​ ​ Facilities 61,675 — 61,675 —
Summary of changes in liabilities attributable to financing activities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-current ​ ​ ​ ​ ​ ​ Current ​ ​ ​ ​ Interest ​ ​ ​ ​ ​ ​ ​ ​ Interest ​ ​ ​ ​ bearing ​ ​ ​ ​ ​ ​ ​ ​ bearing ​ ​ ​ ​ liabilities ​ ​ ​ ​ Total ​ ​ liabilities ​ ​ ​ ​ (excluding ​ Non- ​ liabilities ​ ​ (excluding ​ Current ​ Non-current ​ current ​ from ​ ​ current lease ​ lease ​ lease ​ lease ​ financing ​ ​ liabilities) ​ liabilities ​ liabilities) ​ liabilities ​ activities Predecessor liabilities as of January 1, 2019 ​ $ 0 ​ $ 682 ​ $ 0 ​ $ 2,066 ​ $ 2,748 Cash flows ​ — ​ (23) ​ — ​ — ​ (23) Non cash-flow: ​ ​ ​ ​ ​ New leases ​ — ​ — ​ — ​ — ​ — Foreign exchange adjustments ​ — ​ (18) ​ — ​ (52) ​ (70) Other ​ — ​ 28 ​ — ​ (8) ​ 20 Predecessor liabilities as of March 7, 2019 ​ — ​ 669 ​ 0 ​ 2,006 ​ 2,675 Cash flows ​ 40,000 ​ (749) ​ 53,278 ​ — ​ 92,529 Non cash-flow: ​ ​ ​ ​ ​ New leases ​ — ​ 700 ​ — ​ 1,812 ​ 2,512 Foreign exchange adjustments ​ — ​ 10 ​ (49) ​ 8 ​ (31) Other ​ 2,720 ​ 784 ​ (1) ​ (776) ​ 2,727 Successor liabilities as of December 31, 2019 ​ $ 42,720 ​ $ 1,414 ​ $ 53,228 ​ $ 3,050 ​ $ 100,412 Cash flows ​ — ​ (1,490) ​ 7,930 ​ — ​ 6,440 Non cash-flow: ​ ​ ​ ​ ​ New leases ​ — ​ 637 ​ — ​ 474 ​ 1,111 Foreign exchange adjustments ​ — ​ 153 ​ 143 ​ 196 ​ 492 Other ​ (42,720) ​ 1,432 ​ 374 ​ (1,430) ​ (42,344) Successor Liabilities as of December 31, 2020 ​ $ — ​ $ 2,146 ​ $ 61,675 ​ $ 2,290 ​ $ 66,111 Cash flows ​ — ​ (2,845) ​ (63,315) ​ — ​ (66,160) Non cash-flow: ​ ​ ​ ​ ​ New leases ​ — ​ 1,379 ​ — ​ 5,320 ​ 6,699 Foreign exchange adjustments ​ — ​ (133) ​ (58) ​ 222 ​ 31 Other ​ — ​ 2,405 ​ 1,698 ​ (2,405) ​ 1,698 Successor Liabilities as of December 31, 2021 ​ $ 0 ​ $ 2,952 ​ $ 0 ​ $ 5,427 ​ $ 8,379

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2021
Inventories
Summary of inventories	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ December 31, ​ December 31, ​ 2021 2020 Raw materials ​ $ 18,402 ​ $ 13,004 Work in-progress ​ ​ 5,138 ​ ​ 3,712 Finished products ​ 5,400 ​ 4,110 Total inventories at the lower of cost and net realizable value $ 28,940 $ 20,826

Other receivables (Tables)

Other receivables (Tables)	12 Months Ended
	Dec. 31, 2021
Other receivables
Summary of other receivables	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ December ​ December ​ 31, 2021 31, 2020 Value added tax and other tax receivables ​ $ 3,184 ​ $ 2,350 Other items ​ ​ 910 ​ ​ 506 Total ​ $ 4,094 $ 2,856

Share capital and Other contr_2

Share capital and Other contributed capital (Tables)	12 Months Ended
	Dec. 31, 2021
Share capital and Other contributed capital
Summary of share capital	The Company’s Share capital at December 31, 2021 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of ​ ​ ​ ​ Other Contributed ​ shares Share Capital Capital Common Share 119,007,062 ​ 30,964 ​ 506,008 Total 119,007,062 ​ 30,964 ​ 506,008 ​ The Company’s Share capital at December 31, 2020 consisted of the following, on a pre-split basis: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of ​ ​ ​ ​ Other Contributed ​ shares Share Capital Capital Preferred A ​ 1 ​ $ — ​ $ — Preferred B1 200,755,561 ​ 21,249 ​ 194,741 Common Share - Class A 56,221,500 ​ 5,946 ​ 62,965 Common Share - Class B 250,000 ​ 29 ​ 68 Total 257,227,062 ​ $ 27,224 ​ $ 257,774
Summary of reconciliation of the movements in equity	The following chart shows a reconciliation of the movements in equity from December 31, 2019 through December 31, 2020 and from December 31, 2020 through December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shares ​ ​ ​ ​ ​ ​ Outstanding ​ Share ​ Other Contributed ​ ​ (number) ​ Capital ​ Capital Balance as of December 31, 2019 208,962,350 ​ $ 22,124 ​ $ 199,121 New Share Issuance 48,264,712 ​ 5,100 ​ 58,653 Shareholders’ contributions — ​ — ​ — Balance as of December 31, 2020 257,227,062 ​ $ 27,224 ​ $ 257,774 New Share Issuance 13,235,294 ​ 3,740 ​ 245,543 Share based renumeration program — ​ — ​ 2,691 Reverse stock split (151,455,294) ​ — ​ — Balance as of December 31, 2021 119,007,062 ​ $ 30,964 ​ $ 506,008

Stock-based compensation (Table

Stock-based compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Stock-based compensation
Summary of stock option activity	A summary of stock option activity under the Company's 2021 Plan relating to awards to certain officers and directors as of December 31, 2021, and changes during the twelve months ended December 31, 2021, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Outstanding ​ Average ​ ​ Stock ​ Exercise ​ Options Price Granted ​ 442,789 ​ 25 Vested ​ 0 ​ ​ Forfeited 0 ​ Balance as of December 31, 2021 442,789 25
Summary of the RSU activity	​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Outstanding ​ Grant Date Fair ​ RSU’s Value Granted ​ 344,271 ​ 23.75 Vested ​ 0 ​ ​ Forfeited ​ 8,822 ​ ​ Balance as of December 31, 2021 335,449 23.75

Other current liabilities (Tabl

Other current liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
Other current liabilities.
Summary of other current liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ As of December As of December ​ 31, 2021 31, 2020 Salaries and wages ​ $ 6,306 $ 4,342 Advance invoiced customers ​ 5,447 ​ ​ 7,367 Royalties ​ 1,233 ​ ​ 1,767 Other current liabilities ​ 6,663 ​ ​ 5,681 Total ​ $ 19,649 ​ $ 19,157

Related-party transactions (Tab

Related-party transactions (Tables)	12 Months Ended
	Dec. 31, 2021
Related-party transactions
Summary of related-party transactions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Successor ​ ​ Predecessor ​ For the year For the year From January 4, From January 1, ​ ​ ended ​ ended ​ 2019 through ​ ​ 2019 through ​ ​ December 31, ​ December 31, ​ December 31, ​ ​ March 7, ​ 2021 2020 2019 2019 Wages and salaries ​ $ 2,732 ​ $ 839 ​ $ 1,216 ​ ​ $ 7,791 Share-based payments ​ ​ 96 ​ ​ — ​ ​ — ​ ​ ​ — Social security costs ​ ​ 876 ​ ​ 179 ​ ​ — ​ ​ ​ — Pension costs - defined contribution plans ​ ​ 303 ​ ​ 90 ​ ​ 42 ​ ​ ​ — ​ ​ $ 4,007 ​ $ 1,108 ​ $ 1,258 ​ ​ $ 7,791

Earnings per share (Tables)

Earnings per share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings per share
Summary of earnings per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Successor for ​ Successor for Successor from Predecessor ​ the year ended the year ended ​ January 4, ​ ​ from January 1, ​ ​ December 31, ​ December 31, ​ through December 31 ​ ​ 2019 through ​ 2021 2020 ​ 2019 ​ ​ March 7 2019 Net loss for the period ​ $ (38,339) ​ $ (6,780) ​ $ (17,878) ​ ​ $ (7,832) Less accumulated preferred dividend yield ​ ​ (4,205) ​ ​ (16,900) ​ ​ (10,932) ​ ​ ​ — Total ​ (42,544) ​ (23,680) ​ ​ (28,810) ​ ​ ​ (7,832) Weighted average number of shares (thousands) ​ 99,261 ​ 21,439 ​ ​ 14,505 ​ ​ ​ 171 Basic and diluted loss per share ​ $ (0.43) $ (1.10) ​ $ (1.99) ​ ​ $ (45.80) ​

General information (Details)

General information (Details)	12 Months Ended
	Dec. 31, 2021
Disclosure of subsidiaries [line items]
Number of wholly owned subsidiaries	10
Knilo BidCo AB
Disclosure of subsidiaries [line items]
Ownership interest	100.00%
Olink Holdings | Knilo BidCo AB
Disclosure of subsidiaries [line items]
Ownership interest	100.00%

Significant Accounting Polici_4

Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2021
Revenue recognition
Average duration of sales order	1 month
Average duration of service contracts	12 months

Significant Accounting Polici_5

Significant Accounting Policies - Estimated Useful Life (Details)	12 Months Ended
	Dec. 31, 2021
Licenses and customer relationships
Disclosure of detailed information about intangible assets [line items]
Estimated useful lives	10 years
Research and development
Disclosure of detailed information about intangible assets [line items]
Estimated useful lives	5 years
Technology
Disclosure of detailed information about intangible assets [line items]
Estimated useful lives	15 years

Significant Accounting Polici_6

Significant Accounting Policies - Property, plant and equipment (Details)	12 Months Ended
	Dec. 31, 2021
Leasehold improvements
Disclosure of detailed information about property, plant and equipment [line items]
Expected useful lives	5 years
Plant and machinery
Disclosure of detailed information about property, plant and equipment [line items]
Expected useful lives	5 years
Furniture, fittings and equipment
Disclosure of detailed information about property, plant and equipment [line items]
Expected useful lives	5 years

Significant Accounting Polici_7

Significant Accounting Policies - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Significant Accounting Policies
Impairment of non-current assets	$ 0

Significant Accounting Polici_8

Significant Accounting Policies - Derivative financial instruments (Details) $ in Thousands	Dec. 31, 2021USD ($)
Significant Accounting Policies
Derivative financial assets	$ 0

Financial risk management - Mar

Financial risk management - Market risk - Currency risk transaction risk (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Financial risk management
USD/SEK exchange rate - increase (in percent)	3.00%	3.00%
USD/SEK exchange rate - decrease (in percent)	3.00%	3.00%
Sensitivity Analysis Base Risk Assumption	3.00%
Currency risk
Financial risk management
(Increase)/decrease in loss before tax due to increase in risk component	$ 908	$ (1,016)
(Increase)/decrease in loss before tax due to decrease in risk component	(908)	1,016
Currency risk | Trade receivables
Financial risk management
Net foreign currency position	690	30
Currency risk | Trade Payables
Financial risk management
Net foreign currency position	378
Currency risk | United States of America, Dollars | Trade receivables
Financial risk management
Net foreign currency position	31,641	22,683
Currency risk | United States of America, Dollars | Trade Payables
Financial risk management
Net foreign currency position	2,918	2,740
Currency risk | United States of America, Dollars | Interest Bearing Loans and Borrowings
Financial risk management
Net foreign currency position		58,359
Currency risk | Euro Member Countries, Euro | Trade receivables
Financial risk management
Net foreign currency position	6,517	3,722
Currency risk | Euro Member Countries, Euro | Trade Payables
Financial risk management
Net foreign currency position	1,379	305
Currency risk | Euro Member Countries, Euro | Interest Bearing Loans and Borrowings
Financial risk management
Net foreign currency position		5,454
Currency risk | United Kingdom, Pounds | Trade receivables
Financial risk management
Net foreign currency position	1,695	1,587
Currency risk | United Kingdom, Pounds | Trade Payables
Financial risk management
Net foreign currency position	$ 219	$ 219

Financial risk management - Cre

Financial risk management - Credit risk (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Credit risk
Concentration risk (in percent)	10.00%
Trade receivables	$ 42,061	$ 33,482
Biopharmaceutical and Academia Customers [Member] | UNITED STATES
Credit risk
Concentration risk (in percent)	44.00%	52.00%
Trade receivables	$ 31,640	$ 22,683

Financial risk management - Liq

Financial risk management - Liquidity risk (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Contractual undiscounted payments
Loan facilities (Note 15.1)		$ 98,332
Lease liabilities (Note 15.1)	$ 8,379	5,394
Advance invoiced customers (Note 15.2)	5,447	7,367
Accounts payable (Note 15.2)	8,668	6,658
Less than 1 year
Contractual undiscounted payments
Lease liabilities (Note 15.1)	2,952	2,428
Advance invoiced customers (Note 15.2)	5,447	7,367
Accounts payable (Note 15.2)	8,668	6,658
1 to 3 years
Contractual undiscounted payments
Lease liabilities (Note 15.1)	3,124	2,629
3 to 5 years
Contractual undiscounted payments
Loan facilities (Note 15.1)		98,332
Lease liabilities (Note 15.1)	2,262	108
More than 5 years
Contractual undiscounted payments
Lease liabilities (Note 15.1)	$ 40	$ 229

Financial risk management - Cap

Financial risk management - Capital management (Details) - USD ($) $ in Thousands	2 Months Ended	12 Months Ended
	Mar. 07, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financial risk management
Net loss for the period	$ (7,832)	$ (38,339)	$ (6,780)	$ (17,878)

Segment and revenue informati_3

Segment and revenue information - Revenue and Gross Profit (Details) $ in Thousands	2 Months Ended	12 Months Ended
	Mar. 07, 2019USD ($)	Dec. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of operating segments [line items]
Number of operating segments | segment		2
Revenue	$ 4,625	$ 94,973	$ 54,067	$ 41,693
Cost of goods sold	(1,254)	(36,764)	(17,456)	(13,018)
Gross profit	3,371	58,209	36,611	28,675
Selling expenses	(9,011)	(33,668)	(12,722)	(8,247)
Administrative expenses	709	47,495	20,102	26,609
Research and development expenses	(1,676)	(22,141)	(9,632)	(4,845)
Other operating loss	310	443	475	363
Operating loss	(7,715)	(44,652)	(5,370)	(10,663)
Interest expense	27	2,048	6,631	6,592
Foreign exchange gain / (loss)	242	1,874	5,455	18
Other financial income / (expense)		(1,719)	(713)	(1,293)
Loss before tax	(7,500)	(46,545)	(7,259)	(18,530)
Income tax	(332)	8,206	479	652
Net loss for the period (Attributable to shareholders of the Parent)	(7,832)	(38,339)	(6,780)	(17,878)
Knilo HoldCo AB (Successor Parent)
Disclosure of operating segments [line items]
Revenue		94,973	54,067	41,693
Income tax		(8,206)	(479)	(652)
Knilo HoldCo AB (Successor Parent) | Kit
Disclosure of operating segments [line items]
Revenue		26,797	14,759	11,067
Total segment revenue		26,797	14,759	11,067
Cost of goods sold		(4,112)	(2,671)	(2,430)
Gross profit		22,685	12,088	8,637
Knilo HoldCo AB (Successor Parent) | Services
Disclosure of operating segments [line items]
Revenue		60,221	34,404	27,739
Total segment revenue		60,221	34,404	27,739
Cost of goods sold		(28,299)	(12,114)	(9,146)
Gross profit		31,922	22,290	18,593
Knilo HoldCo AB (Successor Parent) | Operating segments
Disclosure of operating segments [line items]
Revenue		87,018	49,163	38,806
Total segment revenue		87,018	49,163	38,806
Cost of goods sold		(32,411)	(14,785)	(11,576)
Gross profit		54,607	34,378	27,230
Knilo HoldCo AB (Successor Parent) | Corporate / Unallocated
Disclosure of operating segments [line items]
Revenue		7,955	4,904	2,887
Total segment revenue		7,955	4,904	2,887
Cost of goods sold		(4,353)	(2,671)	(1,442)
Gross profit		3,602	2,233	1,445
Knilo HoldCo AB (Successor Parent) | Consolidated
Disclosure of operating segments [line items]
Revenue		94,973	54,067	41,693
Total segment revenue		94,973	54,067	41,693
Cost of goods sold		(36,764)	(17,456)	(13,018)
Gross profit		$ 58,209	$ 36,611	$ 28,675
Nexttobe AB (Predecessor Parent)
Disclosure of operating segments [line items]
Revenue	4,625
Income tax	332
Nexttobe AB (Predecessor Parent) | Kit
Disclosure of operating segments [line items]
Revenue	1,829
Total segment revenue	1,829
Cost of goods sold	(106)
Gross profit	1,723
Nexttobe AB (Predecessor Parent) | Services
Disclosure of operating segments [line items]
Revenue	2,480
Total segment revenue	2,480
Cost of goods sold	(938)
Gross profit	1,542
Nexttobe AB (Predecessor Parent) | Operating segments
Disclosure of operating segments [line items]
Revenue	4,309
Total segment revenue	4,309
Cost of goods sold	(1,044)
Gross profit	3,265
Nexttobe AB (Predecessor Parent) | Corporate / Unallocated
Disclosure of operating segments [line items]
Revenue	316
Total segment revenue	316
Cost of goods sold	(210)
Gross profit	106
Nexttobe AB (Predecessor Parent) | Consolidated
Disclosure of operating segments [line items]
Revenue	4,625
Total segment revenue	4,625
Cost of goods sold	(1,254)
Gross profit	$ 3,371

Segment and revenue informati_4

Segment and revenue information - Disaggregation of revenue from contracts with customers (Details) - USD ($) $ in Thousands	2 Months Ended	12 Months Ended
	Mar. 07, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2019
Disaggregation of revenue from contracts with customers
Revenue	$ 4,625	$ 94,973	$ 54,067		$ 41,693
Number of customer		0
Percentage of entity's revenue		10.00%
Knilo HoldCo AB (Successor Parent)
Disaggregation of revenue from contracts with customers
Revenue		$ 94,973	$ 54,067		41,693
Number of customer			0
Percentage of entity's revenue			10.00%
Knilo HoldCo AB (Successor Parent) | Sweden
Disaggregation of revenue from contracts with customers
Revenue		6,694	$ 7,220		3,779
Knilo HoldCo AB (Successor Parent) | Americas
Disaggregation of revenue from contracts with customers
Revenue		42,343	27,807		27,146
Knilo HoldCo AB (Successor Parent) | EMEA (excluding Sweden)
Disaggregation of revenue from contracts with customers
Revenue		38,747	14,930		9,589
Knilo HoldCo AB (Successor Parent) | China
Disaggregation of revenue from contracts with customers
Revenue		2,773	668		544
Knilo HoldCo AB (Successor Parent) | Japan
Disaggregation of revenue from contracts with customers
Revenue		2,982	1,547		381
Knilo HoldCo AB (Successor Parent) | Rest of world
Disaggregation of revenue from contracts with customers
Revenue		1,434	1,895		254
Knilo HoldCo AB (Successor Parent) | Kit
Disaggregation of revenue from contracts with customers
Revenue		26,797	14,759		11,067
Knilo HoldCo AB (Successor Parent) | Kit | Sweden
Disaggregation of revenue from contracts with customers
Revenue		2,072	4,029		1,314
Knilo HoldCo AB (Successor Parent) | Kit | Americas
Disaggregation of revenue from contracts with customers
Revenue		12,170	6,824		6,266
Knilo HoldCo AB (Successor Parent) | Kit | EMEA (excluding Sweden)
Disaggregation of revenue from contracts with customers
Revenue		10,381	2,858		2,958
Knilo HoldCo AB (Successor Parent) | Kit | China
Disaggregation of revenue from contracts with customers
Revenue		1,908	374		465
Knilo HoldCo AB (Successor Parent) | Kit | Japan
Disaggregation of revenue from contracts with customers
Revenue		182	88		64
Knilo HoldCo AB (Successor Parent) | Kit | Rest of world
Disaggregation of revenue from contracts with customers
Revenue		84	586
Knilo HoldCo AB (Successor Parent) | Services
Disaggregation of revenue from contracts with customers
Revenue		60,221	34,404		27,739
Knilo HoldCo AB (Successor Parent) | Services | Sweden
Disaggregation of revenue from contracts with customers
Revenue		3,155	2,307		1,716
Knilo HoldCo AB (Successor Parent) | Services | Americas
Disaggregation of revenue from contracts with customers
Revenue		27,105	19,268		19,431
Knilo HoldCo AB (Successor Parent) | Services | EMEA (excluding Sweden)
Disaggregation of revenue from contracts with customers
Revenue		26,612	10,906		5,975
Knilo HoldCo AB (Successor Parent) | Services | China
Disaggregation of revenue from contracts with customers
Revenue		148	101		69
Knilo HoldCo AB (Successor Parent) | Services | Japan
Disaggregation of revenue from contracts with customers
Revenue		2,605	1,369		301
Knilo HoldCo AB (Successor Parent) | Services | Rest of world
Disaggregation of revenue from contracts with customers
Revenue		596	453		247
Knilo HoldCo AB (Successor Parent) | Operating segments
Disaggregation of revenue from contracts with customers
Revenue		87,018	49,163		38,806
Knilo HoldCo AB (Successor Parent) | Corporate / Unallocated
Disaggregation of revenue from contracts with customers
Revenue		7,955	4,904		2,887
Knilo HoldCo AB (Successor Parent) | Corporate / Unallocated | Sweden
Disaggregation of revenue from contracts with customers
Revenue		1,467	884		749
Knilo HoldCo AB (Successor Parent) | Corporate / Unallocated | Americas
Disaggregation of revenue from contracts with customers
Revenue		3,068	1,715		1,449
Knilo HoldCo AB (Successor Parent) | Corporate / Unallocated | EMEA (excluding Sweden)
Disaggregation of revenue from contracts with customers
Revenue		1,754	1,166		656
Knilo HoldCo AB (Successor Parent) | Corporate / Unallocated | China
Disaggregation of revenue from contracts with customers
Revenue		717	193		10
Knilo HoldCo AB (Successor Parent) | Corporate / Unallocated | Japan
Disaggregation of revenue from contracts with customers
Revenue		195	90		16
Knilo HoldCo AB (Successor Parent) | Corporate / Unallocated | Rest of world
Disaggregation of revenue from contracts with customers
Revenue		$ 754	$ 856		$ 7
Nexttobe AB (Predecessor Parent)
Disaggregation of revenue from contracts with customers
Revenue	4,625
Nexttobe AB (Predecessor Parent) | Hamilton Health Sciences
Disaggregation of revenue from contracts with customers
Revenue				$ 707
Percentage of entity's revenue				10.00%
Nexttobe AB (Predecessor Parent) | Sweden
Disaggregation of revenue from contracts with customers
Revenue	803
Nexttobe AB (Predecessor Parent) | Americas
Disaggregation of revenue from contracts with customers
Revenue	2,588
Nexttobe AB (Predecessor Parent) | EMEA (excluding Sweden)
Disaggregation of revenue from contracts with customers
Revenue	1,129
Nexttobe AB (Predecessor Parent) | Japan
Disaggregation of revenue from contracts with customers
Revenue	105
Nexttobe AB (Predecessor Parent) | Kit
Disaggregation of revenue from contracts with customers
Revenue	1,829
Nexttobe AB (Predecessor Parent) | Kit | Sweden
Disaggregation of revenue from contracts with customers
Revenue	512
Nexttobe AB (Predecessor Parent) | Kit | Americas
Disaggregation of revenue from contracts with customers
Revenue	901
Nexttobe AB (Predecessor Parent) | Kit | EMEA (excluding Sweden)
Disaggregation of revenue from contracts with customers
Revenue	317
Nexttobe AB (Predecessor Parent) | Kit | Japan
Disaggregation of revenue from contracts with customers
Revenue	99
Nexttobe AB (Predecessor Parent) | Services
Disaggregation of revenue from contracts with customers
Revenue	2,480
Nexttobe AB (Predecessor Parent) | Services | Sweden
Disaggregation of revenue from contracts with customers
Revenue	203
Nexttobe AB (Predecessor Parent) | Services | Americas
Disaggregation of revenue from contracts with customers
Revenue	1,529
Nexttobe AB (Predecessor Parent) | Services | EMEA (excluding Sweden)
Disaggregation of revenue from contracts with customers
Revenue	748
Nexttobe AB (Predecessor Parent) | Operating segments
Disaggregation of revenue from contracts with customers
Revenue	4,309
Nexttobe AB (Predecessor Parent) | Corporate / Unallocated
Disaggregation of revenue from contracts with customers
Revenue	316
Nexttobe AB (Predecessor Parent) | Corporate / Unallocated | Sweden
Disaggregation of revenue from contracts with customers
Revenue	88
Nexttobe AB (Predecessor Parent) | Corporate / Unallocated | Americas
Disaggregation of revenue from contracts with customers
Revenue	158
Nexttobe AB (Predecessor Parent) | Corporate / Unallocated | EMEA (excluding Sweden)
Disaggregation of revenue from contracts with customers
Revenue	64
Nexttobe AB (Predecessor Parent) | Corporate / Unallocated | Japan
Disaggregation of revenue from contracts with customers
Revenue	$ 6

Segment and revenue informati_5

Segment and revenue information - Non-current operating assets by geography (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of geographical areas [line items]
Non-current operating assets	$ 339,111	$ 357,978
Sweden.
Disclosure of geographical areas [line items]
Non-current operating assets	327,404	355,179
Rest of World
Disclosure of geographical areas [line items]
Non-current operating assets	$ 11,707	$ 2,799

Operating expenses by nature (D

Operating expenses by nature (Details) - USD ($) $ in Thousands	2 Months Ended	12 Months Ended
	Mar. 07, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Knilo HoldCo AB (Successor Parent)
Operating expenses by nature
Employee benefits (Note 7)		$ 43,664	$ 19,792	$ 11,279
Knilo HoldCo AB (Successor Parent) | Cost of good sold
Operating expenses by nature
Cost of inventories recognized as an expense		28,988	12,760	10,681
Depreciation of tangible assets (Note 13, 14.2)		2,964	1,540	324
Amortization of intangible assets (Note 12)		28	0	0
Employee benefits (Note 7)		4,783	3,156	2,006
Knilo HoldCo AB (Successor Parent) | Selling Expenses
Operating expenses by nature
Depreciation of tangible assets (Note 13, 14.2)		537	357	134
Amortization of intangible assets (Note 12)		2	11	5
Employee benefits (Note 7)		23,077	9,758	4,793
Knilo HoldCo AB (Successor Parent) | Administrative Expenses
Operating expenses by nature
Depreciation of tangible assets (Note 13, 14.2)		463	293	781
Amortization of intangible assets (Note 12)		10,455	9,736	7,831
Employee benefits (Note 7)		7,191	3,519	2,309
Knilo HoldCo AB (Successor Parent) | Research and Development Expenses
Operating expenses by nature
Depreciation of tangible assets (Note 13, 14.2)		749	478	83
Amortization of intangible assets (Note 12)		604	125
Employee benefits (Note 7)		$ 8,613	$ 3,359	$ 2,171
Nexttobe AB (Predecessor Parent)
Operating expenses by nature
Employee benefits (Note 7)	$ 9,907
Nexttobe AB (Predecessor Parent) | Cost of good sold
Operating expenses by nature
Cost of inventories recognized as an expense	840
Depreciation of tangible assets (Note 13, 14.2)	40
Amortization of intangible assets (Note 12)	0
Employee benefits (Note 7)	373
Nexttobe AB (Predecessor Parent) | Selling Expenses
Operating expenses by nature
Depreciation of tangible assets (Note 13, 14.2)	19
Amortization of intangible assets (Note 12)	1
Employee benefits (Note 7)	8,676
Nexttobe AB (Predecessor Parent) | Administrative Expenses
Operating expenses by nature
Depreciation of tangible assets (Note 13, 14.2)	106
Employee benefits (Note 7)	419
Nexttobe AB (Predecessor Parent) | Research and Development Expenses
Operating expenses by nature
Depreciation of tangible assets (Note 13, 14.2)	20
Employee benefits (Note 7)	$ 439

Employee benefits (Details)

Employee benefits (Details) - USD ($) $ in Thousands	2 Months Ended	12 Months Ended
	Mar. 07, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating expenses by nature
Change in control bonus included within salaries and wages	$ 7,708
Knilo HoldCo AB (Successor Parent)
Operating expenses by nature
Salaries and wages		$ 32,307	$ 15,269	$ 8,956
Share-based payments		2,524
Social security costs		6,148	2,935	1,649
Pension costs - defined contribution plans		2,685	1,588	674
Total employee benefits		$ 43,664	$ 19,792	$ 11,279
Nexttobe AB (Predecessor Parent)
Operating expenses by nature
Salaries and wages	9,423
Social security costs	352
Pension costs - defined contribution plans	132
Total employee benefits	$ 9,907

Financial income and expenses_2

Financial income and expenses (Details) - USD ($) $ in Thousands	2 Months Ended	12 Months Ended
	Mar. 07, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of attribution of expenses by nature to their function [line items]
Interest expense on lease liabilities	$ (27)	$ (386)	$ (276)	$ (176)
Knilo HoldCo AB (Successor Parent)
Disclosure of attribution of expenses by nature to their function [line items]
Interest income		98		7
Interest expense on loans and other borrowings		(1,760)	(6,355)	(6,423)
Interest expense on lease liabilities		(386)	(276)	(176)
Total interest income/(expense)		(2,048)	(6,631)	(6,592)
Total foreign exchange gain/(loss)		1,874	5,455	18
Other financial expenses		(1,719)	(713)	(1,293)
Total other financial income/(expenses)		(1,719)	(713)	(1,293)
Financial items - net		$ (1,893)	$ (1,889)	$ (7,867)
Nexttobe AB (Predecessor Parent)
Disclosure of attribution of expenses by nature to their function [line items]
Interest expense on lease liabilities	(27)
Total interest income/(expense)	(27)
Total foreign exchange gain/(loss)	242
Financial items - net	$ 215

Income tax - Major components o

Income tax - Major components of income tax expense (Details) - USD ($) $ in Thousands	2 Months Ended	12 Months Ended
	Mar. 07, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Major Components Of Income Tax Expense [line Items]
Corporate income tax rate (in percent)		20.60%	21.40%	21.40%		22.00%
Deferred income tax
Income tax (expense)/benefit	$ 332	$ (8,206)	$ (479)		$ (652)
Knilo HoldCo AB (Successor Parent)
Current tax:
Current tax on profit for the year		(308)	(1,231)		(1,372)
Total current tax expense		(308)	(1,231)		(1,372)
Deferred income tax
Decrease/(increase) in deferred tax assets		5,324	54		13
(Decrease)/increase in deferred tax liabilities		3,190	1,656		2,011
Total deferred tax expense/(benefit)		8,514	1,710		2,024
Income tax (expense)/benefit		$ 8,206	$ 479		$ 652
Nexttobe AB (Predecessor Parent)
Current tax:
Current tax on profit for the year	(123)
Total current tax expense	(123)
Deferred income tax
Decrease/(increase) in deferred tax assets	(2)
(Decrease)/increase in deferred tax liabilities	(207)
Total deferred tax expense/(benefit)	(209)
Income tax (expense)/benefit	$ (332)

Income tax - Reconciliation bet

Income tax - Reconciliation between reported tax expense (Details) - USD ($) $ in Thousands	2 Months Ended	12 Months Ended
	Mar. 07, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Reconciliation between reported tax expense for each period and the theoretical tax expense that would arise when applying statutory tax rate
Loss before tax		$ 9,054	$ 0
Tax effects from:
Income tax (expense)/benefit	$ 332	$ (8,206)	$ (479)		$ (652)
Statutory tax rate (in percent)		20.60%	21.40%	21.40%		22.00%
Knilo HoldCo AB (Successor Parent)
Reconciliation between reported tax expense for each period and the theoretical tax expense that would arise when applying statutory tax rate
Loss before tax		$ (46,545)	$ (7,259)		(18,530)
Income tax calculated according to tax rate in Sweden 20.6 % 2021/21.4% 2020, 2019		9,588	1,553		3,965
Tax effects from:
Non-deductible costs		(1,542)	(1,143)		(3,019)
Previously unrecognized tax losses used to reduce current tax expenses		184	70		(244)
Differences in overseas tax rates		(24)	(22)		(50)
Other			21
Income tax (expense)/benefit		$ 8,206	$ 479		$ 652
Nexttobe AB (Predecessor Parent)
Reconciliation between reported tax expense for each period and the theoretical tax expense that would arise when applying statutory tax rate
Loss before tax	(7,500)
Income tax calculated according to tax rate in Sweden 20.6 % 2021/21.4% 2020, 2019	1,605
Tax effects from:
Non-deductible costs	(1,909)
Previously unrecognized tax losses used to reduce current tax expenses	(28)
Income tax (expense)/benefit	$ (332)

Income tax - Deferred tax asset

Income tax - Deferred tax assets (Details) - USD ($) $ in Thousands	2 Months Ended	10 Months Ended	12 Months Ended
	Mar. 07, 2019	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020
Deferred income tax balances
Balance as of beginning of year			$ 37
Balance as of ending of year			9,091	$ 37
Knilo HoldCo AB (Successor Parent)
Deferred income tax balances
Balance as of beginning of year			37	10
Recognized in the statement of comprehensive income		$ 13	5,324	54
Through acquisitions-Purchase price allocation		32,461		503
Net to deferred tax liability		(3)		(31)
Exchange differences			(95)	4
Recognized in statement of Equity			3,825
Balance as of ending of year		10	9,091	37
Nexttobe AB (Predecessor Parent)
Deferred income tax balances
Balance as of beginning of year	$ 11	13
Recognized in the statement of comprehensive income	2
Balance as of ending of year	13
Deferred tax assets Lease liabilities | Knilo HoldCo AB (Successor Parent)
Deferred income tax balances
Balance as of beginning of year			37	10
Recognized in the statement of comprehensive income		13	113	54
Net to deferred tax liability		(3)		(31)
Exchange differences			(6)	4
Balance as of ending of year		10	144	$ 37
Deferred tax assets Lease liabilities | Nexttobe AB (Predecessor Parent)
Deferred income tax balances
Balance as of beginning of year	11	$ 13
Recognized in the statement of comprehensive income	2
Balance as of ending of year	$ 13
Tax Losses | Knilo HoldCo AB (Successor Parent)
Deferred income tax balances
Recognized in the statement of comprehensive income			4,935
Exchange differences			(223)
Balance as of ending of year			4,712
Other | Knilo HoldCo AB (Successor Parent)
Deferred income tax balances
Recognized in the statement of comprehensive income			276
Exchange differences			134
Recognized in statement of Equity			3,825
Balance as of ending of year			$ 4,235

Income tax - Deferred tax liabi

Income tax - Deferred tax liabilities (Details) - USD ($) $ in Thousands	2 Months Ended	10 Months Ended	12 Months Ended
	Mar. 07, 2019	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020
Deferred income tax balances
Balance as of beginning of year			$ 33,193
Balance as of ending of year			27,092	$ 33,193
Knilo HoldCo AB (Successor Parent)
Deferred income tax balances
Balance as of beginning of year			33,193	30,345
Recognized in the statement of comprehensive income		$ (2,011)	(3,190)	(1,656)
Exchange differences		(102)	(2,912)	4,032
Purchase Price Allocation		32,461		503
Net from deferred tax asset		(3)		(31)
Balance as of ending of year		30,345	27,092	33,193
Nexttobe AB (Predecessor Parent)
Deferred income tax balances
Balance as of beginning of year	$ 661	846
Recognized in the statement of comprehensive income	207
Exchange differences	(22)
Balance as of ending of year	846
Deferred tax on untaxed reserves | Knilo HoldCo AB (Successor Parent)
Deferred income tax balances
Balance as of beginning of year			1,170	895
Recognized in the statement of comprehensive income		365	(1,116)	135
Exchange differences		8	(54)	140
Purchase Price Allocation		525
Net from deferred tax asset		(3)
Balance as of ending of year		895	0	1,170
Deferred tax on untaxed reserves | Nexttobe AB (Predecessor Parent)
Deferred income tax balances
Balance as of beginning of year	501	525
Recognized in the statement of comprehensive income	43
Exchange differences	(19)
Balance as of ending of year	525
Intangible & Inventory Valuation | Knilo HoldCo AB (Successor Parent)
Deferred income tax balances
Balance as of beginning of year			31,481	29,283
Recognized in the statement of comprehensive income		(2,225)	(2,206)	(2,173)
Exchange differences		(107)	(2,864)	3,868
Purchase Price Allocation		31,615		503
Balance as of ending of year		29,283	26,411	31,481
Other Temporary Differences | Knilo HoldCo AB (Successor Parent)
Deferred income tax balances
Balance as of beginning of year			542	167
Recognized in the statement of comprehensive income		(151)	133	382
Exchange differences		(3)	6	24
Purchase Price Allocation		321
Net from deferred tax asset				(31)
Balance as of ending of year		167	$ 681	$ 542
Other Temporary Differences | Nexttobe AB (Predecessor Parent)
Deferred income tax balances
Balance as of beginning of year	160	$ 321
Recognized in the statement of comprehensive income	164
Exchange differences	(3)
Balance as of ending of year	$ 321

Income tax - Additional Informa

Income tax - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Taxable deduction offsets expire, period	6 years
Gross movement of tax	$ 9,054	$ 0
Deferred tax asset net	5,324	0
Increase of net profit	3,627	2,831
Sweden
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Tax losses	43,611	912
Sweden | Tax losses related to Interest expense
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Tax losses	$ 17,608	$ 13,230
Available of offsetting against future taxable profits, period	6 years

Investments in subsidiaries (De

Investments in subsidiaries (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Knilo BidCo AB
Disclosure of subsidiaries [line items]
Ownership interest	100.00%	100.00%
Olink Proteomics Holding AB
Disclosure of subsidiaries [line items]
Ownership interest	100.00%	100.00%
Olink Proteomics AB
Disclosure of subsidiaries [line items]
Ownership interest	100.00%	100.00%
Agrisera AB
Disclosure of subsidiaries [line items]
Ownership interest	100.00%	100.00%
Olink Proteomics Inc.
Disclosure of subsidiaries [line items]
Ownership interest	100.00%	100.00%
Olink Proteomics Ltd
Disclosure of subsidiaries [line items]
Ownership interest	100.00%	100.00%
Olink Proteomics B.V
Disclosure of subsidiaries [line items]
Ownership interest	100.00%	100.00%
Olink Proteomics GmbH .
Disclosure of subsidiaries [line items]
Ownership interest	100.00%	100.00%
Olink Proteomics KK
Disclosure of subsidiaries [line items]
Ownership interest	100.00%	100.00%
Olink Biotech (Shanghai) Co., Ltd
Disclosure of subsidiaries [line items]
Ownership interest	100.00%	100.00%

Business combinations - Acquisi

Business combinations - Acquisitions in 2020 (Details) - Agrisera AB - Knilo HoldCo AB (Successor Parent) $ in Thousands	May 07, 2020USD ($)
Disclosure of detailed information about business combination [line items]
Percentage of voting interest acquired	100.00%
Purchase consideration	$ 4,990
Contingent consideration	0
Fair values of total acquired assets assumed	3,541
Fair values of total acquired liabilities assumed	1,057
Goodwill	$ 2,506

Business combinations - Acqui_2

Business combinations - Acquisitions in 2019 - Additional Information (Details) - Summa Equity Holding AB group $ in Thousands	Mar. 07, 2019USD ($)
Disclosure of detailed information about business combination [line items]
Percentage of voting interest acquired	100.00%
Goodwill	$ 161,123
Acquisition-related costs	14,666
Revenue	46,318
Net loss	19,498
Purchase price, entirely settled in cash	299,382
Contingent consideration arrangements	0
Technology
Disclosure of detailed information about business combination [line items]
Purchase price allocation of acquired	86,473
Multi-period excess earnings method
Disclosure of detailed information about business combination [line items]
Purchase price allocation of acquired	38,693
Royalty method
Disclosure of detailed information about business combination [line items]
Purchase price allocation of acquired	$ 24,618

Business combinations - Acqui_3

Business combinations - Acquisitions in 2019 - Fair value of the assets and liabilities recognized (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Mar. 07, 2019
Assets
Right-of-use asset	$ 8,778	$ 4,684
Liabilities
Lease liabilities	$ 8,379	$ 4,436
Summa Equity Holding AB group
Assets
Intangible assets, excluding goodwill			$ 149,831
Property plant and equipment			2,597
Right-of-use asset			2,740
Financial assets			64
Inventories			9,104
Accounts receivables			4,075
Other receivables			9,794
Prepaid expenses and contract assets			466
Cash at bank and in hand			10,187
Total Assets			188,858
Liabilities
Lease liabilities			2,682
Deferred tax liabilities			32,461
Accounts payable			1,835
Current tax liabilities			1,321
Other current liabilities			8,945
Accrued expenses and contract liabilities			3,355
Total Liabilities			50,599
Total identifiable net assets at fair value			138,259
Goodwill arising upon acquisition (Note 12)			161,123
Purchase Consideration Transferred			$ 299,382

Business combinations - Acqui_4

Business combinations - Acquisitions in 2019 - Purchase consideration - cash outflow (Details) - Summa Equity Holding AB group $ in Thousands	Mar. 07, 2019USD ($)
Disclosure of detailed information about business combination [line items]
Purchase consideration	$ 299,382
Less: Balances acquired
Cash	10,187
Net outflow of cash-investing activities	$ 289,195

Goodwill and other intangible_3

Goodwill and other intangible assets - Changes in goodwill and other intangible assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Beginning balance	$ 347,387
Ending balance	308,124	$ 347,387
Goodwill
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Beginning balance	186,020
Ending balance	168,431	186,020
Customer relationships
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Beginning balance	37,418
Ending balance	29,754	37,418
Technology
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Beginning balance	86,967
Ending balance	72,768	86,967
Brands
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Beginning balance	28,368
Ending balance	26,211	28,368
Development cost
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Beginning balance	8,614
Ending balance	10,960	8,614
Gross carrying value
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Beginning balance	367,606	310,424
Purchase Price Allocation		4,699
Additions	4,326	7,791
Translation differences	(34,977)	44,692
Ending balance	336,955	367,606
Gross carrying value | Goodwill
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Beginning balance	186,020	160,843
Purchase Price Allocation		2,506
Translation differences	(17,589)	22,671
Ending balance	168,431	186,020
Gross carrying value | Customer relationships
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Beginning balance	45,582	38,626
Purchase Price Allocation		1,359
Translation differences	(4,310)	5,597
Ending balance	41,272	45,582
Gross carrying value | Technology
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Beginning balance	99,005	86,323
Purchase Price Allocation		654
Translation differences	(9,361)	12,028
Ending balance	89,644	99,005
Gross carrying value | Brands
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Beginning balance	28,385	24,632
Purchase Price Allocation		180
Additions	593	127
Translation differences	(2,712)	3,446
Ending balance	26,266	28,385
Gross carrying value | Development cost
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Beginning balance	8,614
Additions	3,733	7,664
Translation differences	(1,005)	950
Ending balance	11,342	8,614
Amortization and impairment
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Beginning balance	(20,219)	(8,020)
Amortization	(11,088)	(9,872)
Translation differences	2,476	(2,327)
Ending balance	(28,831)	(20,219)
Amortization and impairment | Customer relationships
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Beginning balance	(8,164)	(3,219)
Amortization	(4,349)	(4,005)
Translation differences	995	(940)
Ending balance	(11,518)	(8,164)
Amortization and impairment | Technology
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Beginning balance	(12,038)	(4,796)
Amortization	(6,297)	(5,856)
Translation differences	1,459	(1,386)
Ending balance	(16,876)	(12,038)
Amortization and impairment | Brands
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Beginning balance	(17)	(5)
Amortization	(41)	(11)
Translation differences	3	(1)
Ending balance	(55)	$ (17)
Amortization and impairment | Development cost
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Amortization	(401)
Translation differences	19
Ending balance	$ (382)

Goodwill and other intangible_4

Goodwill and other intangible assets - Test of goodwill and indefinite lived assets impairment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about intangible assets [line items]
Discount rate	19.00%	21.00%
Terminal growth rate	2.00%
Period of projected cash flows of CGU's	10 years
Estimation of Increased discount rate (in percentage)	22.30%
Increased portion of estimation of discount rate (in percentage)	3.00%
Estimation of decreased terminal growth rate (in percentage)	0.00%
Decreased portion of estimation of terminal growth rate (in percentage)	(2.00%)
Kit
Disclosure of detailed information about intangible assets [line items]
Estimation of Increased discount rate (in percentage)	25.90%
Increased portion of estimation of discount rate (in percentage)	6.60%
Estimation of decreased terminal growth rate (in percentage)	0.00%
Decreased portion of estimation of terminal growth rate (in percentage)	(2.00%)
Services
Disclosure of detailed information about intangible assets [line items]
Estimation of Increased discount rate (in percentage)	23.00%
Increased portion of estimation of discount rate (in percentage)	3.70%
Estimation of decreased terminal growth rate (in percentage)	0.00%
Decreased portion of estimation of terminal growth rate (in percentage)	(2.00%)
Goodwill
Disclosure of detailed information about intangible assets [line items]
Impairment of goodwill and other intangible assets	$ 168,431	$ 186,020
Goodwill | Kit
Disclosure of detailed information about intangible assets [line items]
Impairment of goodwill and other intangible assets	134,189	147,067
Goodwill | Services
Disclosure of detailed information about intangible assets [line items]
Impairment of goodwill and other intangible assets	34,242	38,953
Brands
Disclosure of detailed information about intangible assets [line items]
Impairment of goodwill and other intangible assets	25,514	28,178
Brands | Kit
Disclosure of detailed information about intangible assets [line items]
Impairment of goodwill and other intangible assets	15,338	16,858
Brands | Services
Disclosure of detailed information about intangible assets [line items]
Impairment of goodwill and other intangible assets	$ 10,176	$ 11,320

Property, plant and equipment_2

Property, plant and equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, plant and equipment
Balance as of beginning of year	$ 5,774
Balance as of ending of year	12,696	$ 5,774
Gross carrying value
Property, plant and equipment
Balance as of beginning of year	7,422	3,211
Purchase Price Allocation		107
Additions	10,482	3,460
Transfers	(368)	0
Disposals	(1,085)	0
Translation differences	(749)	644
Balance as of ending of year	15,702	7,422
Accumulated depreciation and amortisation [member]
Property, plant and equipment
Balance as of beginning of year	(1,648)	(470)
Depreciation for the period	2,034	1,065
Transfers	68
Disposals	450	0
Translation differences	(158)	113
Balance as of ending of year	(3,006)	(1,648)
Leasehold improvements
Property, plant and equipment
Balance as of beginning of year	452
Balance as of ending of year	3,248	452
Leasehold improvements | Gross carrying value
Property, plant and equipment
Balance as of beginning of year	659	530
Additions	3,147	123
Transfers	92
Disposals	(569)
Translation differences	(6)	6
Balance as of ending of year	3,323	659
Leasehold improvements | Accumulated depreciation and amortisation [member]
Property, plant and equipment
Balance as of beginning of year	(207)	(93)
Depreciation for the period	238	114
Transfers	(1)
Disposals	370
Translation differences	(1)
Balance as of ending of year	(75)	(207)
Plant and machinery
Property, plant and equipment
Balance as of beginning of year	2,665
Balance as of ending of year	6,432	2,665
Plant and machinery | Gross carrying value
Property, plant and equipment
Balance as of beginning of year	3,393	1,176
Purchase Price Allocation		44
Additions	4,836	1,561
Transfers	200	368
Disposals	(21)
Translation differences	(373)	244
Balance as of ending of year	8,035	3,393
Plant and machinery | Accumulated depreciation and amortisation [member]
Property, plant and equipment
Balance as of beginning of year	(728)	(202)
Depreciation for the period	1,069	493
Transfers	128
Disposals	11
Translation differences	(55)	33
Balance as of ending of year	(1,603)	(728)
Furniture, fittings and equipment
Property, plant and equipment
Balance as of beginning of year	2,581
Balance as of ending of year	2,263	2,581
Furniture, fittings and equipment | Gross carrying value
Property, plant and equipment
Balance as of beginning of year	3,294	1,421
Purchase Price Allocation		63
Additions	1,180	1,303
Transfers	(63)	124
Disposals	(495)
Translation differences	(325)	383
Balance as of ending of year	3,591	3,294
Furniture, fittings and equipment | Accumulated depreciation and amortisation [member]
Property, plant and equipment
Balance as of beginning of year	(713)	(175)
Depreciation for the period	727	458
Transfers	(59)
Disposals	69
Translation differences	(102)	80
Balance as of ending of year	(1,328)	(713)
Construction in progress for property, plant and equipment
Property, plant and equipment
Balance as of beginning of year	76
Balance as of ending of year	753	76
Construction in progress for property, plant and equipment | Gross carrying value
Property, plant and equipment
Balance as of beginning of year	76	84
Additions	1,319	473
Transfers	(597)	(492)
Translation differences	(45)	11
Balance as of ending of year	753	76
Construction in progress for property, plant and equipment | Accumulated depreciation and amortisation [member]
Property, plant and equipment
Balance as of beginning of year	0
Balance as of ending of year	$ 0	$ 0

Leases - Amounts recognized in

Leases - Amounts recognized in the consolidated balance sheet (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use asset	$ 8,778	$ 4,684
Additions of right-of-use assets	7,122	1,143
Lease liabilities
Current (Note 15.1)	2,952	2,146
Non-current (Note 15.1)	5,427	2,290
Total liabilities	$ 8,379	4,436
Minimum
Disclosure of quantitative information about right-of-use assets [line items]
Useful life of right of use assets (in years)	1 year
Maximum
Disclosure of quantitative information about right-of-use assets [line items]
Useful life of right of use assets (in years)	10 years
Property
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use asset	$ 7,195	3,073
Equipment
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use asset	$ 1,583	$ 1,611

Leases - Amounts recognized i_2

Leases - Amounts recognized in the consolidated statement of income related to leases (Details) - USD ($) $ in Thousands	2 Months Ended	12 Months Ended
	Mar. 07, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of quantitative information about right-of-use assets [line items]
Depreciation of right-of-use-assets	$ 100	$ 2,679	$ 1,603	$ 755
Interest expense (included in finance cost)	27	386	276	176
Total amount recognized in net loss for the period	127	3,065	1,879	931
Total cash outflow for leases		2,845	1,764
Property
Disclosure of quantitative information about right-of-use assets [line items]
Depreciation of right-of-use-assets	$ 100	1,611	921	647
Office equipment
Disclosure of quantitative information about right-of-use assets [line items]
Depreciation of right-of-use-assets		$ 1,068	$ 682	$ 108

Financial instruments per cat_3

Financial instruments per category (Details) - Financial assets at amortised cost, category - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current debt instruments at amortized cost
Total current debt instruments at amortized cost	$ 46,155	$ 36,338
Non-current debt instruments at amortized cost
Total non-current debt instruments at amortized cost	422	133
Total financial assets	46,577	36,471
Trade receivables
Current debt instruments at amortized cost
Total current debt instruments at amortized cost	42,061	33,482
Other receivables
Current debt instruments at amortized cost
Total current debt instruments at amortized cost	4,094	2,856
Other long-term receivables
Non-current debt instruments at amortized cost
Total non-current debt instruments at amortized cost	$ 422	$ 133

Financial instruments per cat_4

Financial instruments per category - Interest-bearing loans and borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Amortized cost
Current interest-bearing loans and borrowings
Current financial liabilities	$ 2,952	$ 2,146
Non-current interest-bearing loans and borrowings
Total non-current interest-bearing loans and borrowings	5,427	63,965
Total interest-bearing loans and borrowings	$ 8,379	$ 66,111
Lease Liabilities | Minimum
Non-current interest-bearing loans and borrowings
Interest Rate	6.25%	6.25%
Lease Liabilities | Maximum
Non-current interest-bearing loans and borrowings
Interest Rate	11.00%	11.00%
Lease Liabilities | Amortized cost
Current interest-bearing loans and borrowings
Current financial liabilities	$ 2,952	$ 2,146
Non-current interest-bearing loans and borrowings
Total non-current interest-bearing loans and borrowings	$ 5,427	$ 2,290
Non-current Interest bearing liabilities (excluding Non-current lease liabilities)
Non-current interest-bearing loans and borrowings
Interest Rate		11.00%
Non-current Interest bearing liabilities (excluding Non-current lease liabilities) | Amortized cost
Non-current interest-bearing loans and borrowings
Total non-current interest-bearing loans and borrowings		$ 61,675

Financial instruments per cat_5

Financial instruments per category - Loan Facility (Details) - USD ($)	Mar. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2019
Disclosure of financial liabilities [line items]
Commitment fee (as a percent)				35.00%
Amount drawn		$ 2,312,000	$ 7,930,000		$ 93,278,000
Book value of the pledged assets			6,948,000
Repayment of outstanding loans	$ 65,600,000	65,627,000
Payment of accrued interest	$ 1,900,000
Cash balance held at bank		118,100,000
Outstanding loan balance		0
LIBOR | Minimum
Disclosure of financial liabilities [line items]
Spread on variable rate				3.00%	3.00%
LIBOR | Maximum
Disclosure of financial liabilities [line items]
Spread on variable rate				6.25%	6.25%
Loan facility
Disclosure of financial liabilities [line items]
Notional amount				$ 110,000,000	$ 110,000,000
Total commitment			$ 137,600,000
Facility B
Disclosure of financial liabilities [line items]
Amount drawn		63,500,000
Transaction costs		1,800,000
Remaining undrawn credit		$ 74,100,000

Financial instruments per cat_6

Financial instruments per category - Other financial liabilities at amortized cost (Details) - Amortized cost - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of financial liabilities [line items]
Other financial liabilities	$ 14,115	$ 14,025
Advance invoiced customers
Disclosure of financial liabilities [line items]
Other financial liabilities	5,447	7,367
Accounts payable
Disclosure of financial liabilities [line items]
Other financial liabilities	$ 8,668	$ 6,658

Financial instruments per cat_7

Financial instruments per category - All levels of Fair Value Hierarchy (Details) - Non-current Interest bearing liabilities (excluding Non-current lease liabilities) $ in Thousands	Dec. 31, 2020USD ($)
Disclosure of fair value measurement of liabilities [line items]
Carrying Amount	$ 61,675
Level 2
Disclosure of fair value measurement of liabilities [line items]
Fair values	$ 61,675

Financial instruments per cat_8

Financial instruments per category - Reconciliation of liabilities (Details) - USD ($) $ in Thousands	2 Months Ended	10 Months Ended	12 Months Ended
	Mar. 07, 2019	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020
Knilo HoldCo AB (Successor Parent)
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Liabilities at beginning of the period			$ 66,111	$ 100,412
Cash flows		$ 92,529	(66,160)	6,440
New leases		2,512	6,699	1,111
Foreign exchange adjustments		(31)	31	492
Other		2,727	1,698	(42,344)
Liabilities at end of the period		100,412	8,379	66,111
Knilo HoldCo AB (Successor Parent) | Current Interest bearing liabilities (excluding current lease liabilities)
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Liabilities at beginning of the period				42,720
Cash flows		40,000
Other		2,720		(42,720)
Liabilities at end of the period		42,720	0
Knilo HoldCo AB (Successor Parent) | Changes in liabilities Current lease liabilities
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Liabilities at beginning of the period			2,146	1,414
Cash flows		(749)	(2,845)	(1,490)
New leases		700	1,379	637
Foreign exchange adjustments		10	(133)	153
Other		784	2,405	1,432
Liabilities at end of the period		1,414	2,952	2,146
Knilo HoldCo AB (Successor Parent) | Non-current Interest bearing liabilities (excluding Non-current lease liabilities)
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Liabilities at beginning of the period			61,675	53,228
Cash flows		53,278	(63,315)	7,930
Foreign exchange adjustments		(49)	(58)	143
Other		(1)	1,698	374
Liabilities at end of the period		53,228	0	61,675
Knilo HoldCo AB (Successor Parent) | Changes in liabilities Non-current lease liabilities
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Liabilities at beginning of the period			2,290	3,050
New leases		1,812	5,320	474
Foreign exchange adjustments		8	222	196
Other		(776)	(2,405)	(1,430)
Liabilities at end of the period		3,050	$ 5,427	$ 2,290
Nexttobe AB (Predecessor Parent)
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Liabilities at beginning of the period	$ 2,748	2,675
Cash flows	(23)
Foreign exchange adjustments	(70)
Other	20
Liabilities at end of the period	2,675
Nexttobe AB (Predecessor Parent) | Current Interest bearing liabilities (excluding current lease liabilities)
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Liabilities at beginning of the period	0
Nexttobe AB (Predecessor Parent) | Changes in liabilities Current lease liabilities
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Liabilities at beginning of the period	682	669
Cash flows	(23)
Foreign exchange adjustments	(18)
Other	28
Liabilities at end of the period	669
Nexttobe AB (Predecessor Parent) | Non-current Interest bearing liabilities (excluding Non-current lease liabilities)
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Liabilities at beginning of the period	0	0
Liabilities at end of the period	0
Nexttobe AB (Predecessor Parent) | Changes in liabilities Non-current lease liabilities
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Liabilities at beginning of the period	2,066	$ 2,006
Foreign exchange adjustments	(52)
Other	(8)
Liabilities at end of the period	$ 2,006

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Inventories
Raw materials	$ 18,402	$ 13,004
Work in-progress	5,138	3,712
Finished products	5,400	4,110
Total inventories at the lower of cost and net realizable value	$ 28,940	$ 20,826

Trade Receivable (Details)

Trade Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Trade Receivables [Line Items]
Credit loss recognized	$ 365	$ 2
Minimum
Trade Receivables [Line Items]
Term of trade receivables	30 days
Maximum
Trade Receivables [Line Items]
Term of trade receivables	90 days

Other receivables (Details)

Other receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other receivables
Value added tax and other tax receivables	$ 3,184	$ 2,350
Other items	910	506
Total	$ 4,094	$ 2,856

Share capital and Other contr_3

Share capital and Other contributed capital - Company's Share capital (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 16, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of classes of share capital [line items]
Number of shares	119,007,062		257,227,062	208,962,350
Share Capital	$ 30,964		$ 27,224
Other Contributed Capital	$ 506,008		$ 257,774
Preferred A
Disclosure of classes of share capital [line items]
Number of shares			1
Preferred B1
Disclosure of classes of share capital [line items]
Number of shares			200,755,561
Share Capital			$ 21,249
Other Contributed Capital			$ 194,741
Common Share-Class A
Disclosure of classes of share capital [line items]
Number of shares			56,221,500
Share Capital			$ 5,946
Other Contributed Capital			$ 62,965
Common Share-Class B
Disclosure of classes of share capital [line items]
Number of shares			250,000
Share Capital			$ 29
Other Contributed Capital			$ 68
Common Shares
Disclosure of classes of share capital [line items]
Number of shares	119,007,062	257,227,062
Share Capital	$ 30,964
Other Contributed Capital	$ 506,008

Share capital and Other contr_4

Share capital and Other contributed capital - Reconciliation of the Movements in Equity (Details) - USD ($) $ in Thousands	2 Months Ended	12 Months Ended
	Mar. 07, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of classes of share capital [line items]
Balance at the beginning (in shares)		257,227,062	208,962,350
New Share Issuance (in shares)		13,235,294	48,264,712
Reverse stock split (in shares)		(151,455,294)
Balance at the end (in shares)		119,007,062	257,227,062	208,962,350
New Share Issuance		$ 249,283		$ 221,192
Shareholders' contributions			$ 63,753	48
Share based renumeration program		2,691
Share Capital
Disclosure of classes of share capital [line items]
Balance at the beginning		27,224	22,124
New Share Issuance		3,740	5,100	22,119
Shareholders' contributions			5,100
Balance at the end		30,964	27,224	22,124
Other Contributed Capital
Disclosure of classes of share capital [line items]
Balance at the beginning		257,774	199,121
New Share Issuance	$ 8,417	245,543	58,653	199,073
Shareholders' contributions	$ 565		58,653	48
Share based renumeration program		2,691
Balance at the end		$ 506,008	$ 257,774	$ 199,121

Share capital and Other contr_5

Share capital and Other contributed capital - Reorganization of share structure (Details) - USD ($) $ / shares in Units, $ in Millions	Mar. 29, 2021	Mar. 16, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of classes of share capital [line items]
Number of shares outstanding			119,007,062	257,227,062	208,962,350
IPO
Disclosure of classes of share capital [line items]
Number of shares outstanding	119,007,062
Common Shares
Disclosure of classes of share capital [line items]
Number of shares outstanding		257,227,062	119,007,062
Number of shares issued		105,771,768
Common Shares | IPO
Disclosure of classes of share capital [line items]
Number of shares represented by ADS	13,235,294
Preferred A Shares [Member]
Disclosure of classes of share capital [line items]
Number of shares re-designated into common shares		1
Number of shares outstanding				1
Preferred B-1 Shares [Member]
Disclosure of classes of share capital [line items]
Number of shares re-designated into common shares		200,755,561
Number of shares outstanding				200,755,561
Class A Common Shares [Member]
Disclosure of classes of share capital [line items]
Number of shares re-designated into common shares		56,221,500
Number of shares outstanding				56,221,500
Class B Common Shares [Member]
Disclosure of classes of share capital [line items]
Number of shares re-designated into common shares		250,000
Number of shares outstanding				250,000
ADS | IPO
Disclosure of classes of share capital [line items]
Number of shares represented by ADS	13,235,294
Price per ADS	$ 20
Net proceeds from the initial public offering	$ 249.3
Net proceeds from the initial public offering shown on statement cash flows	$ 245.2

Share capital and Other contr_6

Share capital and Other contributed capital - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)shares	Dec. 31, 2020kr / sharesshares	Mar. 29, 2021shares	Dec. 31, 2019shares
Disclosure of classes of share capital [line items]
Cumulative Coupon Rate	8.00%
Number of authorized shares		800,000,000
Number of shares issued		257,227,062
Number of shares outstanding	119,007,062	257,227,062		208,962,350
Number of shares issued at par value		48,264,712
Par value | kr / shares		kr 1
Premium per share | kr / shares		kr 9
Total transaction costs accounted for as deduction from equity, net of deferred taxes | $	$ 15.4
IPO
Disclosure of classes of share capital [line items]
Number of shares outstanding			119,007,062
Preferred A
Disclosure of classes of share capital [line items]
Number of shares outstanding		1
Preferred B1
Disclosure of classes of share capital [line items]
Number of shares outstanding		200,755,561

Stock-based compensation (Detai

Stock-based compensation (Details) - 2021 Incentive Award Plan	Mar. 16, 2021shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Maximum shares may be issued	1,085,900
Vesting period	4 years

Stock-based compensation - Opti

Stock-based compensation - Options (Details)	Mar. 16, 2021	Dec. 31, 2021USD ($)$ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense associated with these stock options		$ 1,000,000
Option
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period		4 years
Expiration period		5 years
2021 Incentive Award Plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of options granted		620,675
Vesting period	4 years
2021 Incentive Award Plan | Option | Executive officers and directors
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of options granted		442,789
Exercise price as percentage of the initial public offering price		125.00%
Initial public offering price | $ / shares		$ 20

Stock-based compensation - Shar

Stock-based compensation - Share Based Payment Arrangement (Details) - 2021 Incentive Award Plan	12 Months Ended
	Dec. 31, 2021USD ($)$ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Granted	620,675
Option
Disclosure of terms and conditions of share-based payment arrangement [line items]
Balance at the end	442,789
Option | Executive officers and directors
Disclosure of terms and conditions of share-based payment arrangement [line items]
Granted	442,789
Vested	0
Forfeited	0
Balance at the end	442,789
Granted (in dollars per share) | $ / shares	$ 25
Balance at the end (in dollars per share) | $ / shares	$ 25

Stock-based compensation - Addi

Stock-based compensation - Additional Information (Details) - USD ($)	Mar. 16, 2021	Dec. 31, 2021	Sep. 30, 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense associated with these stock options		$ 1,000,000
2021 Incentive Award Plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares approved	1,085,900
Vesting period	4 years
2021 Incentive Award Plan | Restricted stock units
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares approved			465,225
Number of shares granted		344,271
Vesting period		4 years
Expense associated with these stock options		$ 2,000,000
2021 Incentive Award Plan | Restricted stock units | Executive officers
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares granted		108,071

Stock-based compensation - Rest

Stock-based compensation - Restricted Stock Units (Details) - 2021 Incentive Award Plan - Restricted stock units	12 Months Ended
	Dec. 31, 2021USD ($)$ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Granted	344,271
Vested	0
Forfeited	8,822
Balance at the end	335,449
Granted (in dollars per share) | $ / shares	$ 23.75
Balance at the end (in dollars per share) | $ / shares	$ 23.75

Other current liabilities (Deta

Other current liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other current liabilities.
Salaries and wages	$ 6,306	$ 4,342
Advance invoiced customers	5,447	7,367
Royalties	1,233	1,767
Other current liabilities	6,663	5,681
Total	$ 19,649	$ 19,157

Other current liabilities - Add

Other current liabilities - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jan. 31, 2021	Jan. 01, 2020
Other current liabilities.
Liability balance for advance invoiced customers			$ 7,367	$ 1,068
Revenue recognized from advances from invoiced customers	$ 7,092	$ 592,000
Advance payments from customers	$ 258,000	$ 178,000

Related-party transactions (Det

Related-party transactions (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	May 31, 2020	Mar. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of transactions between related parties [line items]
Loan amount		$ 38,486
Interest rate (as a percent)		8.00%
Outstanding balance on shareholder loan					$ 41,102
Accrued interest					$ 2,616
Interest expense recognized prior to conversion of the loan				$ 1,377
Dividends paid to related party			$ 0	$ 0
Knilo HoldCo AB | Common Share-Class A
Disclosure of transactions between related parties [line items]
Number of shares issued upon conversion of outstanding amount	6,763,245
Knilo HoldCo AB | Preferred B1
Disclosure of transactions between related parties [line items]
Number of shares issued upon conversion of outstanding amount	27,052,980

Related-party transactions - Tr

Related-party transactions - Transactions with directors (Details) - USD ($) $ in Thousands	2 Months Ended	12 Months Ended
	Mar. 07, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related-party transactions.
Wages and salaries	$ 7,791	$ 2,732	$ 839	$ 1,216
Share-based payments		96
Social security costs		876	179
Pension costs-defined contribution plans		303	90	42
Transactions with directors	$ 7,791	$ 4,007	$ 1,108	$ 1,258

Related-party transactions - Ag

Related-party transactions - Agreements with Our Executive Officers and Directors (Details) - USD ($)	1 Months Ended		12 Months Ended
	Apr. 30, 2020	Aug. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of transactions between related parties [line items]
Base rate per month	$ 6,000
Amount paid under agreement				$ 78,000	$ 59,000
Renumeration received by board members			$ 408,000	110,000
Gustavo Salem, a member of board
Disclosure of transactions between related parties [line items]
Base rate per month		$ 7,500
Other board members
Disclosure of transactions between related parties [line items]
Amount paid under agreement				$ 9,000

Related-party transactions - Ma

Related-party transactions - Management Service Agreements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of transactions between related parties [line items]
Amount paid under agreement		$ 78	$ 59
Management Service Agreements
Disclosure of transactions between related parties [line items]
Amount paid under agreement		$ 37	$ 166
Lump sum amount paid	$ 2,400

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	2 Months Ended	12 Months Ended
	Mar. 07, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings per share
Net loss for the period	$ (7,832)	$ (38,339)	$ (6,780)	$ (17,878)
Less accumulated preferred dividend yield		(4,205)	(16,900)	(10,932)
Total	$ (7,832)	$ (42,544)	$ (23,680)	$ (28,810)
Weighted average number of shares, basic	171	99,261	21,439	14,505
Weighted average number of shares, diluted	171	99,261	21,444	14,505
Basic loss per share	$ (45.80)	$ (0.43)	$ (1.10)	$ (1.99)
Diluted loss per share	$ (45.80)	$ (0.43)	$ (1.10)	$ (1.99)

Earnings per share - Additional

Earnings per share - Additional Information (Details) - 2021 Incentive Award Plan	Dec. 31, 2021USD ($)
Restricted stock units
Earnings per share [line items]
Outstanding stock options	335,449
Option
Earnings per share [line items]
Outstanding stock options	442,789