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

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net loss $ (94,757) $ (123,454) $ (126,872)
Adjustments required to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 7,786 9,192 7,472
Remeasurement of warrants liability (154) (472) (890)
Change in accrued interest on bank deposits 1,939 (1,051) (705)
Change in marketable securities (534) (409) 375
Share-based compensation 19,682 22,320 19,449
Capital gain, net (75) 0 (44)
Foreign exchange loss (gain), net (305) (470) 1,233
Change in prepaid expenses and other assets (437) (782) (377)
Change in trade receivables, net 1,352 (5,633) (1,249)
Change in inventory (37) 2,368 20
Change in operating lease assets and liabilities, net (623) 29 6,530
Change in trade payables (72) 424 1,082
Change in accrued expenses and other liabilities (3,299) 2,578 607
Change in employees and payroll accruals (746) 333 (304)
Change in deferred revenues (6,675) 1,974 262
Net cash used in operating activities (76,955) (93,053) (93,411)
Cash flows from investing activities:      
Purchase of property and equipment (4,412) (6,579) (22,567)
Proceeds from sales of property and equipment 75 0 54
Investment in bank deposits (54,100) (165,600) (79,500)
Withdrawal of bank deposits 127,300 141,500 230,000
Investment in restricted deposits (122) (40) (2,633)
Investment in marketable securities (55,493) (51,678) (30,103)
Proceeds from sales and maturities of marketable securities 62,220 83,461 30,103
Net cash provided by investing activities 75,468 1,064 125,354
Cash flows from financing activities:      
Issuance of ordinary shares, net of issuance cost 0 61,400 0
Proceeds from exercise of options 224 456 609
Net cash provided by financing activities 224 61,856 609
Effect of exchange rate changes on cash, cash equivalents and restricted cash 308 515 (1,139)
Increase (decrease) in cash, cash equivalents and restricted cash (955) (29,618) 31,413
Cash, cash equivalents and restricted cash at the beginning of the year 26,336 55,954 24,541
Cash, cash equivalents and restricted cash at the end of the year 25,381 26,336 55,954
(1) Cash paid during the year for:      
Income taxes 232 703 128
(2) Non-cash transactions:      
Purchase of property and equipment 1,867 831 2,335
Reclassification of warrants liability to equity 0 8 29
Exercise Of Options 41 0 0
Right-of-use assets recognized with corresponding lease liabilities 0 868 30,078
(3) Cash, cash equivalents and restricted cash at the end of the year:      
Cash and cash equivalents 25,365 26,283 55,718
Short-term restricted cash 16 53 236
Cash, cash equivalents and restricted cash at the end of the year $ 25,381 $ 26,336 $ 55,954