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

FAIR VALUE MEASUREMENTS (Tables)

v3.25.4
FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 31, 2025
Summary of Assets and Liabilities at Fair Value on a Recurring Basis
    December 31, 2025  
 
  
Level 1
    
Level 2
    
Level 3
    
Total
  
Assets:
                        
Marketable securities
  
$
-
    
$
9,466
    
$
-
    
$
9,466
  
 
                                
Total financial assets
  
$
-
    
$
9,466
    
$
-
    
$
9,466
  
Liabilities:
                                
Warrants (1)
   $ -     $ -    
$
7
    
$
7
  
                                 
Total financial liabilities
   $ -     $ -    
$
7
    
$
7
  
 
  
December 31, 2024
  
 
  
Level 1
    
Level 2
    
Level 3
    
Total
  
Assets:
                        
Marketable securities
  
$
-
    
$
11,955
    
$
-
    
$
11,955
  
 
                                
Total financial assets
  
$
-
    
$
11,955
    
$
-
    
$
11,955
  
Liabilities:
                                
Warrants (1)
  
$
-
    
$
-
    
$
86
    
$
86
  
                                 
Total financial liabilities
  
$
-
    
$
-
    
$
86
    
$
86
  
 
  (1)
As part of the Transactions, the Company assumed a derivative warrants liability related to previously issued private placement warrants in connection with Collective Growth’s initial public offering (see Note 12). The Company utilizes a Black-Scholes option pricing model to estimate the fair value of the private placement warrants which is considered a Level 3 fair value measurement. The warrants are measured at each reporting period, with changes in fair value recognized in financing income, net.
Summary of the Binomial (Lattice) Valuation Model Assumptions used to Record the Fair Value of the Warrants
   
Year ended December 31,
  
   
2025
    
2024
    
2023
  
Balance at the beginning of the year
  
$
86
    
$
240
    
$
720
  
Change in fair value of warrants liability
    
(75
)
    
(154
)
    
(472
)
Reclassification of warrants liability to equity
    
(4
)
    
-
      
(8
)
Balance at the end of the year
  
$
7
    
$
86
    
$
240