| SEGMENT INFORMATION |
| NOTE
15: - |
SEGMENT
INFORMATION |
| |
a. |
The Company operates
as a single operating segment in the LiDAR Sensors market. The Company’s Chief Operating Decision Maker (CODM) is its Chief Executive
Officer (CEO). The CODM makes decisions on resource allocation, assesses performance of the business and monitors budget versus actual
results on a consolidated basis. As such, the segment’s profit (loss) is the Company’s consolidated net income (loss) and
the segment’s assets are the Company’s consolidated assets. |
| |
|
Year
ended December 31, |
|
| |
|
2025
|
|
|
2024
|
|
|
2023 |
|
|
Revenues
from external customers |
|
$
|
55,089
|
|
|
$
|
24,268
|
|
|
$
|
20,876
|
|
|
Less:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost
of revenues |
|
|
42,184
|
|
|
|
25,429
|
|
|
|
32,490
|
|
|
Research
and development expenses |
|
|
56,478
|
|
|
|
73,817
|
|
|
|
92,676
|
|
|
Sales
and marketing expenses |
|
|
5,751
|
|
|
|
7,474
|
|
|
|
8,777
|
|
|
General
and administrative expenses |
|
|
18,409
|
|
|
|
19,466
|
|
|
|
19,535
|
|
|
Financial
income, net |
|
|
(109
|
)
|
|
|
(7,328
|
)
|
|
|
(9,790
|
)
|
|
Taxes
on income |
|
|
171
|
|
|
|
167
|
|
|
|
642
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment
loss |
|
$
|
67,795
|
|
|
$
|
94,757
|
|
|
$
|
123,454
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
segment disclosures: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation
and amortization expenses |
|
$
|
5,873
|
|
|
$
|
7,786
|
|
|
$
|
9,192
|
|
|
Share-based
compensation expenses |
|
$
|
15,954
|
|
|
$
|
19,682
|
|
|
$
|
22,320
|
|
|
Interest
income |
|
$
|
3,340
|
|
|
$
|
5,107
|
|
|
$
|
6,227
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment
assets |
|
$
|
138,452
|
|
|
$
|
132,049
|
|
|
$
|
219,234
|
|
|
Expenditures
for segment assets |
|
$
|
4,250
|
|
|
$
|
4,412
|
|
|
$
|
6,579
|
|
| |
c. |
Geographic information: |
Following
is a summary of revenues by geographic areas. Revenues attributed to geographic areas, based on the location where the customers accept
delivery of the products and services:
| |
|
Year
ended December 31, |
|
| |
|
2025
|
|
|
2024
|
|
|
2023
|
|
| |
|
|
|
|
|
|
|
|
|
|
Europe, Middle
East and Africa (*) |
|
$
|
45,155
|
|
|
$
|
20,755
|
|
|
$
|
18,903
|
|
|
North America
(**) |
|
|
7,260
|
|
|
|
1,188
|
|
|
|
1,496
|
|
|
Israel
|
|
|
2,591
|
|
|
|
2,133
|
|
|
|
83
|
|
|
Asia Pacific
|
|
|
83
|
|
|
|
192
|
|
|
|
394
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
$
|
55,089
|
|
|
$
|
24,268
|
|
|
$
|
20,876
|
|
| |
(*) |
Includes revenues from Germany in the amount of
$45,132,
$20,754
and $18,758
in the years ended December 31, 2025, 2024 and 2023, respectively. |
| |
(**) |
Includes revenues from United States in the amount
of $7,242,
$1,188
and $1,496
in the years ended December 31, 2025, 2024 and 2023, respectively. |
| |
|
|
| |
d. |
The Company’s long-lived assets (property
and equipment, net and operating lease right-of-use assets, net) are located as follows: |
| |
|
Year
ended December
31,
|
|
| |
|
2025
|
|
|
2024
|
|
| |
|
|
|
|
|
|
|
Israel
|
|
$
|
43,503
|
|
|
$
|
45,883
|
|
|
Germany
|
|
|
503
|
|
|
|
724
|
|
|
Others
|
|
|
936
|
|
|
|
19
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
$
|
44,942
|
|
|
$
|
46,626
|
|
| |
e. |
Customers accounted for over 10% of revenues:
|
For
the year ended 2025, Customer A accounted for 81%
of revenues.
For
the year ended 2024, Customer A and Customer B accounted for 55%
and 20%
of revenues, respectively.
For
the year ended 2023, Customer A and Customer C accounted for 48%
and 47%
of revenues, respectively.
| |
f. |
Concentration of credit risk from major customers:
|
As
of December 31, 2025, Customer A accounted for approximately 73%
of the Company’s trade receivables.
As
of December 31, 2024, Customer A and Customer D accounted for approximately 73%
and 23%
of the Company’s trade receivables, respectively.
|