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

TAXES ON INCOME (Tables)

v3.25.4
TAXES ON INCOME (Tables)
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Summary of Components of the Company's Deferred Tax Assets
   
December 31,
 
   
2025
   
2024
 
             
Deferred tax assets:
           
             
Net operating loss carryforward
 
$
162,180
   
$
146,966
 
Research and development costs carryforward
   
13,684
     
16,896
 
Capital loss carryforward
   
3,082
     
2,899
 
Inventory provision
   
821
     
1,006
 
Accrued expenses
   
907
     
849
 
Property and equipment
   
719
     
603
 
Lease liabilities
   
6,789
     
5,305
 
Other
   
1,112
     
1,490
 
                 
Total deferred tax assets
   
189,294
     
176,014
 
                 
Valuation allowance
   
(183,522
)
   
(170,647
)
                 
Deferred tax liabilities:
               
                 
Right-of-use assets
   
(5,770
)
   
(5,335
)
Other
   
(2
)
   
(32
)
                 
Total deferred tax liabilities
   
(5,772
)
   
(5,367
)
                 
Net deferred tax
 
$
-
   
$
-
 
Summary of Loss Before Taxes on Income
   
Year ended December 31,
 
   
2025
   
2024
   
2023
 
                   
Domestic (Israel)
 
$
(68,151
)
 
$
(94,937
)
 
$
(125,228
)
Foreign
   
527
     
347
     
2,416
 
 
                       
Loss before taxes on income
 
$
(67,624
)
 
$
(94,590
)
 
$
(122,812
)
Summary of Income Taxes
   
Year ended December 31,
 
   
2025
   
2024
   
2023
 
                   
Current
 
$
171
   
$
167
   
$
642
 
                         
Domestic (Israel)
   
71
     
104
     
131
 
Foreign
   
100
     
63
     
511
 
 
                       
Income taxes
 
$
171
   
$
167
   
$
642
 
Summary of Reconciliation of Effective Income Tax Rate
   
Year ended December 31,
 
   
2025
   
2024
   
2023
 
                   
Israel tax provision at statutory rate
   
23.00
%
   
23.00
%
   
23.00
%
Non-deductible share-based compensation
   
(4.98
)%
   
(4.37
)%
   
(3.87
)%
Effect of other permanent differences
   
(0.21
)%
   
(0.15
)%
   
(0.31
)%
Change in valuation allowance
   
(19.04
)%
   
(19.14
)%
   
(27.71
)%
Issuance costs
   
0.93
%
   
0.36
%
   
6.52
%
Provision to return
   
-
     
-
     
0.24
%
Capital losses
   
0.27
%
   
1.06
%
   
1.47
%
Other adjustments
   
(0.22
)%
   
(0.94
)%
   
0.14
%
 
                       
Effective tax rate
   
(0.25
)%
   
(0.18
)%
   
(0.52
)%