The respective expected volatility has been based on an evaluation of the historical volatility of the Company’s share price as of the grant date. As of September 30, 2022 353,400 options are exercisable and 353,400 options are outstanding. The weighted-average contractual life of the options at September 30, 2022 amounts to 4.8 years (September 30, 2021: 5.8 years).

The expenses recognized in the profit and loss statement in relation to the share-based payment arrangements amounted to kEUR 0 in the three months and kEUR 49 in the nine months ended September 30, 2022 (three months and nine months ended September 30, 2021: kEUR 44 and kEUR 261, respectively).

4. Inventories

		9/30/2022		12/31/2021
		(€ in thousands)
Raw materials and merchandise		3,890		2,978
Work in progress		10,309		6,504
Total		14,199		9,482

In the nine months ended September 30, 2022, voxeljet increased the reserve for slow-moving inventory for raw materials and merchandise as well as work in progress by kEUR 597, following the Company’s inventory reserve policy for inventory (increase in reserve for slow-moving inventory for the nine months ended September 30, 2021: kEUR 166).

5. Property, plant and equipment, net

		9/30/2022		12/31/2021
		(€ in thousands)
Land, buildings and leasehold improvements		17,413		18,048
Plant and machinery		4,517		4,329
Other facilities, factory and office equipment		778		894
Assets under construction and prepayments made		522		448
Total		23,230		23,719
Thereof pledged assets of Property, Plant and Equipment		11,821		12,261

In March 2020, voxeljet registered a first rank land charge amounting to kEUR 10,000 on its land and facility located in Friedberg, Germany as collateral in favor of the EIB related to the loan under the Finance Contract. This pledge was removed within the closing process of sale and leaseback transaction by notary, which was initiated on August 11, 2022 and successfully closed on October 31, 2022. Upon closing of the sale and leaseback transaction, the land and buildings were transferred to the investor. For further information, see Note 14. below.

6. Other liabilities and provisions

		9/30/2022		12/31/2021
		(€ in thousands)
Employee bonus		423		512
Liabilities from payroll		352		255
Accruals for vacation and overtime		333		230
Accruals for management compensation		274		83
Accrual for warranty		157		292
Accruals for compensation of Supervisory board		135		180
Accruals for commissions		132		298
Liabilities from VAT		47		50
Accruals for licenses		34		92
Customers with a credit balance		26		17
Others		91		99
Total		2,004		2,108

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