Annual and transition report of foreign private issuers [Sections 13 or 15(d)]

Consolidated Balance Sheets

v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 4,028 $ 13,488
Restricted cash 280 280
Short term bank deposits 40,690 10,793
Trade receivable, net 571 153
Other assets - funds held in escrow 24,525 30,417
Prepaid expenses and other receivables 1,685 2,500
Total current assets 71,779 57,631
NON-CURRENT ASSETS:    
Operating lease right-of-use assets 893 1,782
Property and equipment, net 1,176 1,374
Total non-current assets 2,069 3,156
Total assets 73,848 60,787
CURRENT LIABILITIES:    
Trade payables 774 624
Operating lease liabilities 679 551
Employees and payroll accruals 3,706 3,283
Convertible bonds 24,757 30,614
Accrued expenses and other payables 2,950 1,334
Derivative Liabilities 50
Total current liabilities 32,916 36,406
LONG-TERM LIABILITIES:    
Operating lease liabilities 1,351 1,457
Warrant liabilities 12 428
Total long-term liabilities 1,363 1,885
SHAREHOLDERS’ EQUITY:    
Ordinary Shares, NIS 0.000216 par value per share; 200,000,000 authorized shares as of December 31, 2025 and 165,000,000 as of December 31, 2024; 109,188,112 and 85,749,331 outstanding shares at December 31, 2025 and 2024, respectively [1]
Additional paid-in capital 338,947 275,453
Accumulated deficit (299,378) (252,957)
Total shareholders’ equity 39,569 22,496
Total liabilities and shareholders’ equity $ 73,848 $ 60,787
[1] Represents less than $1.