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 ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net loss $ (123,454) $ (126,872) $ (153,559)
Adjustments required to reconcile net loss to net cash used in Operating Activities:      
Depreciation and amortization 9,192 7,472 3,960
Remeasurement of warrants liability (472) (890) (1,216)
Issuance cost allocated to warrants liability 0 0 1,830
Change in accrued interest on bank deposits (1,051) (705) (436)
Change in marketable securities (409) 375 104
Share-based compensation 22,320 19,449 64,736
Realization of investment in non-marketable equity securities 0 0 (2,012)
Capital gain, net 0 (44) 0
Foreign exchange loss (gain), net (470) 1,233 (577)
Change in prepaid expenses and other assets (782) (377) 620
Change in trade receivables, net (5,633) (1,249) 1,993
Change in inventory 2,368 20 (2,092)
Changes in operating lease assets and liabilities, net 29 6,530 0
Change in trade payables 424 1,082 (1,997)
Change in accrued expenses and other liabilities 2,578 607 3,076
Change in employees and payroll accruals 333 (304) 3,469
Change in deferred revenues 1,974 262 (421)
Net cash used in operating activities (93,053) (93,411) (82,522)
Cash flows from investing activities:      
Purchase of property and equipment (6,579) (22,567) (3,784)
Proceeds from sales of property and equipment 0 54 0
Investment in bank deposits (165,600) (79,500) (375,047)
Withdrawal of bank deposits 141,500 230,000 145,000
Investment in restricted deposits (40) (2,633) 0
Withdrawal of restricted deposits 0 0 56
Investment in marketable securities (51,678) (30,103) (103,910)
Proceeds from sales and maturities of marketable securities 83,461 30,103 53,910
Proceeds from sale of non-marketable securities 0 0 2,178
Net cash provided by (used in) investing activities 1,064 125,354 (281,597)
Cash flows from financing activities:      
Cash received from Transactions, net of issuance cost 0 0 121,357
Issuance of ordinary shares, net of issuance cost 61,400 0 217,507
Proceeds from exercise of options 456 609 952
Repayment of loans 0 0 (2,638)
Net cash provided by financing activities 61,856 609 337,178
Effect of exchange rate changes on cash, cash equivalents and restricted cash 515 (1,139) 716
Increase (decrease) in cash, cash equivalents and restricted cash (29,618) 31,413 (26,225)
Cash, cash equivalents and restricted cash at the beginning of the year 55,954 24,541 50,766
Cash, cash equivalents and restricted cash at the end of the year 26,336 55,954 24,541
(1) Cash paid during the year for:      
Interest 0 0 94
Income taxes 703 128 237
(2) Non-cash transactions:      
Conversion of preferred shares to ordinary shares 0 0 272,815
Purchase of property and equipment 831 2,335 1,433
Reclassification of warrants liability to equity 8 29 4,436
Issuance cost paid in equity 0 0 77,250
Right-of-use assets recognized with corresponding lease liabilities 868 30,078 0
(3) Cash, cash equivalents and restricted cash at the end of the year:      
Cash and cash equivalents 26,283 55,718 23,640
Short-term restricted cash 53 236 901
Cash, cash equivalents and restricted cash at the end of the year $ 26,336 $ 55,954 $ 24,541