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

Segment Information

v3.26.1
Segment Information
 12 Months Ended
Dec. 31, 2025
Segment Information [Abstract]  
SEGMENT INFORMATION

NOTE 14:- SEGMENT INFORMATION

 

The Company operates as a single operating and reportable segment and is managed on a consolidated basis. The Company’s Chief Executive Officer, who is the chief operating decision maker (“CODM”), allocates resources and evaluates performance primarily based on Net loss.

 

The CODM regularly reviews revenues, operating expenses by function, and cash balances. The CODM also reviews stock-based compensation expense separately from the consolidated statements of operations and Adjusted EBITDA. Cash balances are based on the amounts reported in the consolidated balance sheets

 

The CODM uses Adjusted EBITDA to evaluate operating performance, compare actual results to budgets and forecasts, and support capital allocation and strategic planning decisions.

 

The following table presents financial information for the Company’s single reportable segment for the years ended December 31, 2025 and 2024. The table includes the measure of segment profit or loss used by the CODM, Adjusted EBITDA, as well as significant segment expenses regularly reviewed by the CODM:

 

    Year ended December 31,  
    2025     2024     2023  
                   
Revenues   $ (1,026 )   $ (768 )   $ (1,470 )
Cost of revenues     1,828       1,553       1,508  
Gross Margin ($)     (802 )     (785 )     (38 )
                         
Operating Expenses:                        
Research and development, net     28,411       25,407       25,245  
Sales and marketing     3,445       3,046       2,966  
General and administrative     5,889       6,160       5,275  
Total operating expenses     37,745       34,613       33,486  
                         
Stock-based compensation     9,658       14,255       13,361  
                         
Operating loss     (48,205 )     (49,653 )     (46,885 )
                         
Financial income, net     (1,784 )     (336 )     (3,385 )
                         
Net loss     (46,421 )     (49,317 )     (43,500 )
                         
Adjusted EBITDA   $ (37,861 )   $ (33,272 )   $ (32,473 )
    Year ended December 31,  
    2025     2024     2023  
                   
GAAP net loss attributable to ordinary shareholders   $ (46,421 )   $ (49,317 )   $ (43,500 )
Add:                        
Financial income, net     (1,784 )     (336 )     (3,385 )
Depreciation     538       585       557  
Share-based compensation     9,142       14,542       13,012  
Warrants to service providers     664       1,186       629  
Non-recurring expenses related to ATM    
-
       68       214  
                         
Adjusted EBITDA   $ (37,861 )   $ (33,272 )   $ (32,473 )