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

TAXES ON INCOME (Tables)

v3.25.0.1
TAXES ON INCOME (Tables)
12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Summary of Components of the Company's Deferred Tax Assets
   
December 31,
 
   
2024
   
2023
 
             
Deferred tax assets:
           
             
Net operating loss carryforward
 
$
146,966
   
$
125,170
 
Research and development costs carryforward
   
16,896
     
19,212
 
Capital loss carryforward
   
2,899
     
1,900
 
Inventory provision
   
1,006
     
1,608
 
Accrued expenses
   
849
     
1,732
 
Property and equipment
   
603
     
1,022
 
Lease liabilities
   
5,305
     
5,855
 
Other
   
1,490
     
2,419
 
                 
Total deferred tax assets
   
176,014
     
158,918
 
                 
Valuation allowance
   
(170,647
)
   
(152,965
)
                 
Deferred tax liabilities:
               
                 
Right-of-use assets
   
(5,335
)
   
(5,862
)
Other
   
(32
)
   
(91
)
                 
Total deferred tax liabilities
   
(5,367
)
   
(5,953
)
                 
Net deferred tax
 
$
-
   
$
-
 
Summary of Loss Before Taxes on Income
   
Year ended December 31,
 
   
2024
   
2023
   
2022
 
                   
Domestic (Israel)
 
$
(94,937
)
 
$
(125,228
)
 
$
(127,631
)
Foreign
   
347
     
2,416
     
1,084
 
 
                       
Loss before taxes on income
 
$
(94,590
)
 
$
(122,812
)
 
$
(126,547
)
Summary of Income Taxes
   
Year ended December 31,
 
   
2024
   
2023
   
2022
 
                   
Current
 
$
167
   
$
642
   
$
325
 
                         
Domestic (Israel)
   
104
     
131
     
115
 
Foreign
   
63
     
511
     
210
 
 
                       
Income taxes
 
$
167
   
$
642
   
$
325
 
Summary of Reconciliation of Effective Income Tax Rate
   
Year ended December 31,
 
   
2024
   
2023
   
2022
 
                   
Israel tax provision at statutory rate
   
23.00
%
   
23.00
%
   
23.00
%
Non-deductible share-based compensation
   
(4.37
)%
   
(3.87
)%
   
(2.77
)%
Effect of other permanent differences
   
(0.15
)%
   
(0.31
)%
   
0.05
%
Change in valuation allowance
   
(19.14
)%
   
(27.71
)%
   
(18.70
)%
Issuance costs
   
0.36
%
   
6.52
%
   
6.06
%
Provision to return
   
-
     
0.24
%
   
(8.00
)%
Capital losses
   
1.06
%
   
1.47
%
   
-
 
Other adjustments
   
(0.94
)%
   
0.14
%
   
0.10
%
 
                       
Effective tax rate
   
(0.18
)%
   
(0.52
)%
   
(0.26
)%