Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net loss $ (43,500,000) $ (40,494,000) $ (58,092,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 557,000 481,000 342,000
Stock-based compensation 13,012,000 8,793,000 2,211,000
Stock-based compensation to service providers 629,000 354,000 115,000
Revaluation of warrants and accretion (756,000) (8,122,000) 6,599,000
Revaluation of convertible loan 17,866,000
Change in operating assets and liabilities:      
Trade receivable 694,000 (2,015,000) (50,000)
Prepaid expenses and other receivables (187,000) 1,219,000 (2,228,000)
Operating lease ROU assets and liabilities, net 86,000 (84,000)
Trade payables (103,000) (769,000) 458,000
Employees and payroll accruals 55,000 (234,000) 1,557,000
Deferred revenue (101,000) (375,000) 445,000
Accrued expenses and other payables (3,899,000) 884,000 4,361,000
Net cash used in operating activities (33,513,000) (40,362,000) (26,416,000)
Cash flows from investing activities:      
Change in bank deposits (15,002,000) (400,000) 100,000
Purchase of property and equipment (249,000) (918,000) (784,000)
Net cash used in investing activities (15,251,000) (1,318,000) (684,000)
Cash flows from financing activities:      
Proceeds from short-term loan 4,715,000
Repayment of long-term loan (2,639,000)
Proceeds from recapitalization and PIPE offering, net of issuance costs 98,587,000
Repayment of short-term loan (5,218,000)
Proceeds from issuance of ordinary shares, net of issuance costs 22,496,000
Proceeds from exercise of warrants 12,859,000
Proceeds from exercise of options 703,000 277,000 223,000
Proceeds from convertible loan 11,337,000
Net cash provided by (used in) financing activities 23,199,000 (4,941,000) 125,082,000
Effect of exchange rate fluctuations on cash and cash equivalent 47,000 (1,189,000)
Increase (decrease) in cash, cash equivalents and restricted cash (25,612,000) (45,432,000) 97,982,000
Cash, cash equivalents and restricted cash at the beginning of the year 54,315,000 100,936,000 2,954,000
Cash, cash equivalents and restricted cash at the end of the year 28,750,000 54,315,000 100,936,000
Supplemental non-cash disclosure:      
Exercise of warrants into convertible preferred shares 4,389,000
Issuance of private warrants 6,598,000
Conversion of convertible loan into ordinary shares upon the recapitalization 30,844,000
Conversion of preferred shares into ordinary shares upon the recapitalization 63,467,000
Lease liabilities arising from obtaining right-of-use assets 1,713,000 797,000
Purchase of property and equipment 8,000 7,000 340,000
Supplemental disclosure of cash flows activities:      
Interest paid $ 250,000 $ 209,000