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

Consolidated Statements of Cash Flows

v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net loss $ (46,421) $ (49,317) $ (43,500)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 538 585 557
Stock-based compensation 9,142 14,542 13,012
Stock-based compensation to service providers 664 1,186 629
Revaluation of warrants (297) (447) (756)
Revaluation of convertible bonds 308 (81)
Issuance costs related to convertible bonds 737
Finance income, net (5,259)
Change in operating assets and liabilities:      
Trade receivable, net (418) 1,105 694
Prepaid expenses and other receivables 815 (474) (187)
Operating lease ROU assets and liabilities, net 602 224 86
Trade payables 113 (553) (103)
Employees and payroll accruals 423 367 55
Derivative Liabilities 50
Deferred revenue (101)
Accrued expenses and other payables 1,616 (376) (3,899)
Net cash used in operating activities (38,124) (32,502) (33,513)
Cash flows from investing activities:      
Change in bank deposits (24,368) 4,609 (15,002)
Purchase of property and equipment (303) (622) (249)
Net cash provided by (used in) investing activities (24,671) 3,987 (15,251)
Cash flows from financing activities:      
Proceeds from issuance of ordinary shares and warrants, net of issuance costs 30,758 13,787 22,496
Issuance costs related to convertible bonds (459)
Proceeds from conversion of convertible debentures 21,696
Proceeds from exercise of warrants 493
Proceeds from exercise of options 482 205 703
Net cash provided by financing activities 53,429 13,533 23,199
Effect of exchange rate fluctuations on cash and cash equivalent 258 47
Decrease in cash, cash equivalents and restricted cash (9,366) (15,240) (25,612)
Effect of exchange rate fluctuations on cash and cash equivalent included in Finance income (94)
Cash, cash equivalents and restricted cash at the beginning of the year 13,768 28,750 54,315
Cash, cash equivalents and restricted cash at the end of the year 4,308 13,768 28,750
Supplemental non-cash disclosure:      
Issuance of convertible bonds with proceeds placed in escrow 15,672 30,695
Exercise of warrants 118
Lease liabilities arising from obtaining right-of-use assets 660 1,713
Purchase of property and equipment 74 28 8
Supplemental disclosure of cash flows activities:      
Interest paid $ 287 $ 1,928