Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

TAXES ON INCOME (Tables)

v3.24.0.1
TAXES ON INCOME (Tables)
12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Summary of Components of the Company's Deferred Tax Assets
   
December 31,
 
   
2023
   
2022
 
             
Deferred tax assets:
           
             
Net operating loss carryforward
 
$
125,170
   
$
94,973
 
Research and development costs carryforward
   
19,212
     
18,728
 
Capital loss carryforward
   
1,900
     
90
 
Inventory provision
   
1,608
     
948
 
Accrued expenses
   
1,732
     
727
 
Property and equipment
   
1,022
     
311
 
Lease liabilities
   
5,855
     
6,328
 
Other
   
2,419
     
3,020
 
                 
Total deferred tax assets
   
158,918
     
125,125
 
                 
Valuation allowance
   
(152,965
)
   
(118,932
)
                 
Deferred tax liabilities:
               
                 
Right-of-use assets
   
(5,862
)
   
(6,193
)
Other
   
(91
)
   
-
 
                 
Total deferred tax liabilities
   
(5,953
)
   
(6,193
)
                 
Net deferred tax
 
$
-
   
$
-
 
Summary of Loss Before Taxes on Income
   
Year ended December 31,
 
   
2023
   
2022
   
2021
 
                   
Domestic (Israel)
 
$
(125,228
)
 
$
(127,631
)
 
$
(153,091
)
Foreign
   
2,416
     
1,084
     
(184
)
 
                       
Loss before taxes on income
 
$
(122,812
)
 
$
(126,547
)
 
$
(153,275
)
Summary of Income Taxes
   
Year ended December 31,
 
   
2023
   
2022
   
2021
 
                   
Current
 
$
642
   
$
325
   
$
284
 
                         
Domestic (Israel)
   
131
     
115
     
232
 
Foreign
   
511
     
210
     
52
 
 
                       
Income taxes
 
$
642
   
$
325
   
$
284
 
Summary of Reconciliation of Effective Income Tax Rate
   
Year ended December 31,
 
   
2023
   
2022
   
2021
 
                   
Israel tax provision at statutory rate
   
23.00
%
   
23.00
%
   
23.00
%
Non-deductible share-based compensation
   
(3.87
)%
   
(2.77
)%
   
(2.00
)%
Effect of other permanent differences
   
(0.31
)%
   
0.05
%
   
0.47
%
Change in valuation allowance
   
(27.71
)%
   
(18.70
)%
   
(24.41
)%
Issuance costs
   
6.52
%
   
6.06
%
   
3.68
%
Provision to return
   
0.24
%
   
(8.00
)%
   
(0.77
)%
Capital losses
   
1.47
%
   
-
     
-
 
Other adjustments
   
0.14
%
   
0.10
%
   
(0.16
)%
 
                       
Effective tax rate
   
(0.52
)%
   
(0.26
)%
   
(0.19
)%