Report of foreign issuer [Rules 13a-16 and 15d-16]

INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (26,199) $ (12,642)
Adjustments required to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,327 1,377
Remeasurement of warrants liability (6) (48)
Change in accrued interest on bank deposits 485 (337)
Change in marketable securities (6) (62)
Share-based compensation 3,712 4,754
Capital gain, net (4) 0
Foreign exchange loss, net 49 154
Change in prepaid expenses and other assets (700) 2,129
Change in trade receivables, net 4,682 (11,618)
Change in inventory (536) 201
Change in operating lease assets and liabilities, net (45) (712)
Change in trade payables 1,866 (3,577)
Change in accrued expenses and other liabilities (394) 523
Change in employees and payroll accruals 1,143 154
Change in deferred revenues 175 944
Net cash used in operating activities (14,451) (18,760)
Cash flows from investing activities:    
Purchase of property and equipment (1,356) (1,915)
Proceeds from sales of property and equipment 4 0
Investment in bank deposits (19,930) (44,300)
Withdrawal of bank deposits 27,350 12,500
Investment in marketable securities (5,381) (14,892)
Proceeds from sales and maturities of marketable securities 5,313 17,737
Net cash provided by (used in) investing activities 6,000 (30,870)
Cash flows from financing activities:    
Issuance of ordinary shares and warrants, net of paid issuance costs 0 37,596
Issuance of ordinary shares, net of paid issuance costs 4,231 0
Proceeds from exercise of options 18 142
Net cash provided by financing activities 4,249 37,738
Effect of exchange rate changes on cash, cash equivalents and restricted cash (74) (104)
Decrease in cash, cash equivalents and restricted cash (4,276) (11,996)
Cash, cash equivalents and restricted cash at the beginning of the period 8,654 25,381
Cash, cash equivalents and restricted cash at the end of the period 4,378 13,385
Cash paid during the period for:    
Income taxes 20 28
Non-cash transactions:    
Purchase of property and equipment 912 1,113
Sale of property and equipment 0 3
Issuance costs to be paid 90 307
Cash, cash equivalents and restricted cash at the end of the period:    
Cash and cash equivalents 4,362 13,369
Short-term restricted cash 16 16
Cash, cash equivalents and restricted cash at the end of the period $ 4,378 $ 13,385