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

TAXES ON INCOME (Tables)

v3.22.4
TAXES ON INCOME (Tables)
12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Summary of Components of the Company's Deferred Tax Assets
   
December 31,
 
   
2022
   
2021
 
             
Deferred tax assets:
           
             
Net operating loss carryforward
 
$
94,973    
$
72,116  
Research and development costs carryforward
    18,728       18,357  

Inventory provision

    948       1,093  
Accrued expenses
    727       725  
Property and equipment
    311       155  

Lease liabilities

    6,328       -  
Other
    3,110       2,852  
                 
Total deferred tax assets
    125,125       95,298  
                 
Valuation allowance
    (118,932
)
    (95,264
)
                 
Deferred tax liabilities:
               
                 
Right-of-use assets
    (6,193 )     -
 
Other
    -
 
    (34

)

                 
Total deferred tax liabilities
    (6,193
)
    (34
)
                 
Net deferred tax
 
$
-    
$
-  
Summary of Loss Before Taxes on Income
   
Year ended December 31,
 
   
2022
   
2021
   
2020
 
                   
Domestic (Israel)
 
$
(127,631
)
 
$
(153,091
)
 
$
(81,462
)
Foreign
    1,084
 
    (184

)

    134  
 
                       
Loss before taxes on income
 
$
(126,547
)
 
$
(153,275
)
 
$
(81,328
)
Summary of Income Taxes
 
   
Year ended December 31,
 
   
2022
   
2021
   
2020
 
                   
Current
 
$
325
   
$
284
   
$
183
 
                         
Domestic (Israel)
   
115
     
232
     
128
 
Foreign
   
210
     
52
     
55
 
 
                       
Income taxes
 
$
325
   
$
284
   
$
183
 
Summary of Reconciliation of Effective Income Tax Rate
   
Year ended December 31,
 
   
2022
   
2021
   
2020
 
                   
Israel tax provision at statutory rate
    23.00
%
    23.00
%
    23.00
%
Non-deductible share-based compensation
    (2.77
)%
    (2.00
)%
    (0.61
)%
Effect of other permanent differences
    0.05
%
    0.47
%
    (0.01
)%
Change in valuation allowance
    (18.70
)%
    (24.41
)%
    (22.86
)%
Issuance costs
    6.06
%
    3.68

%

    -  

 Provision to return

    (8.00

)%

    (0.77 )%     0.01 %
Other adjustments
    0.10
%
    (0.16
)%
    0.24

%

 
                       
Effective tax rate
    (0.26
)%
    (0.19
)%
    (0.23
)%