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

Taxes on Income (Tables)

v3.26.1
Taxes on Income (Tables)
 12 Months Ended
Dec. 31, 2025
Taxes on Income [Abstract]  
Schedule of Company’s Loss Before Income Taxes

The following are the domestic (i.e. Israeli) and foreign components of the Company’s loss before income taxes:

 

    Year ended December 31,  
    2025     2024     2023  
                   
Domestic   $ (46,421 )   $ (49,317 )   $ (43,500 )
Foreign    
-
      
-
      
-
  
                         
Total   $ (46,421 )   $ (49,317 )   $ (43,500 )
Schedule of Reconciliation of the Income Tax Benefit

The reconciliation of the income tax benefit that would result from applying the Israeli statutory tax rate to the Company’s reported income tax (benefit) is as follows:

 

    Year ended December 31,  
    2025     2024     2023  
Loss before income taxes, as reported in the consolidated statements of operations   $ 46,421     $ 49,317     $ 43,500  
Statutory tax rate     23 %     23 %     23 %
                         
Income tax benefit at statutory tax rate   $ (10,677 )   $ (11,343 )   $ (10,005 )
Effect of Non-deductible expenses     2,241       3,573       3,063  
Change in valuation allowance     9,123       7,770       7,508  
Other     (688 )    
-
       (566 )
                         
Reported income taxes benefit   $
-
     $
-
     $
-
  
Schedule of Deferred Tax Assets

The principal components of the Company’s deferred tax assets are as follows:

  

    December 31  
    2025     2024  
Deferred tax assets:            
    Net operating loss carry forwards   $ 45,008     $ 36,254  
    Research and development     6,156       5,726  
    Employees and payroll accrual     400       352  
    Property and equipment     (9 )     100  
                 
Total deferred tax assets     51,555       42,432  
                 
Valuation allowance     (51,555 )     (42,432 )
                 
Deferred tax assets, net of valuation allowance   $
-
     $
-