Note 16: Operating Expenses
The research and development expenses are broken down as follows:
| December 31, | ||||||||||||
| Research and development expenses | 2015 | 2016 | 2017 | |||||||||
| (thousands of Euros) | ||||||||||||
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Personnel expenses |
13,268 | 32,777 | 37,112 | |||||||||
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Sub-contracting, collaboration, and consultants |
15,325 | 34,413 | 54,397 | |||||||||
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Research supplies |
911 | 1,234 | 1,464 | |||||||||
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Rental |
1,094 | 1,903 | 2,018 | |||||||||
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Conferences, travel expenses |
1,233 | 2,387 | 2,807 | |||||||||
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Depreciation and amortization |
1,000 | 1,141 | 2,424 | |||||||||
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Small equipments and other supplies |
795 | 2,675 | 2,646 | |||||||||
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Others |
608 | 2,298 | 2,364 | |||||||||
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Total research and development expenses |
34,234 | 78,828 | 105,232 | |||||||||
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The sales and marketing expenses are broken down as follows:
| December 31, | ||||||||||||
| Sales and marketing expenses | 2015 | 2016 | 2017 | |||||||||
| (thousands of Euros) | ||||||||||||
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Personnel expenses |
133 | 4,954 | 6,976 | |||||||||
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Fees |
339 | 4,447 | 2,480 | |||||||||
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Marketing, tradeshows and travel expenses |
20 | 1,393 | 5,984 | |||||||||
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Others |
— | 487 | 384 | |||||||||
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Total sales and marketing expenses |
491 | 11,282 | 15,824 | |||||||||
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By nature, the breakdown of general and administrative expenses is as follows:
| December 31, | ||||||||||||
| General and administrative expenses | 2015 | 2016 | 2017 | |||||||||
| (thousands of Euros) | ||||||||||||
|
Personnel expenses |
8,768 | 22,613 | 19,742 | |||||||||
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Fees |
4,234 | 7,701 | 10,347 | |||||||||
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Rental |
305 | 501 | 584 | |||||||||
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Insurance policies |
1,239 | 1,853 | 1,367 | |||||||||
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Corporate communication and travel expenses |
1,010 | 1,136 | 1,599 | |||||||||
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Depreciation and amortization |
74 | 181 | 422 | |||||||||
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Others |
1,229 | 1,020 | 1,776 | |||||||||
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Total general and administrative expenses |
16,859 | 35,005 | 35,837 | |||||||||
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Personnel Expenses
The Company had 242 employees at December 31, 2017, in comparison with 164 employees at December 31, 2016 and 91 employees at December 31, 2015.
The personnel expenses are broken down as follows:
| December 31, | ||||||||||||
| 2015 | 2016 | 2017 | ||||||||||
| (thousands of Euros) | ||||||||||||
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Wages and salaries |
7,243 | 14,651 | 22,451 | |||||||||
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Social security contributions |
3,193 | 3,903 | 7,157 | |||||||||
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Expenses for pension commitments |
116 | 982 | 1,583 | |||||||||
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Employer contribution to bonus shares |
1,198 | 6,456 | 1,857 | |||||||||
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Share-based payments |
10,419 | 34,353 | 30,781 | |||||||||
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Total |
22,168 | 60,345 | 63,830 | |||||||||
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The increase in personnel charges is partly due to the growth of the Company’s employees and the increase of the share-based payments linked to the global plans put in place during the second semester of 2015 and in 2016 (see Note 17).