v3.25.1
CONSOLIDATED STATEMENT 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 $ (111,754) $ (114,208) $ (107,420)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 3,182 2,255 1,683
Accretion income on short-term investments 0 (731) (654)
Share-based compensation 9,585 16,278 26,892
Change in fair value of warrants liability 22,750 (396) (17,929)
Change in fair value of derivative liability 9,143 (240) 0
Amortization of discount of convertible promissory note 476 30 0
Interest expenses 872 81 0
Decrease (increase) in accrued interest on short-term investments 895 (169) (425)
Increase in inventory (3,412) (463) 0
Decrease (increase) in accounts receivable 444 (455) 0
Decrease (increase) in other accounts receivable and prepaid expenses (419) 5,401 (4,055)
Change in operating lease right-of-use assets and liabilities, net 390 2,123 (4,690)
Increase (decrease) in trade payables 1,905 (901) (1,106)
Increase (decrease) in other accounts payable and accrued expenses (4,956) 2,928 (4,900)
Increase in deferred tax liability 1,782 0 0
Decrease in deferred revenue 0 (943) 0
Loss from property and equipment sales and disposals 132 137 19
Net cash used in operating activities (68,985) (89,273) (112,585)
Cash flows from investing activities:      
Purchase of property and equipment (7,531) (3,745) (11,058)
Purchases of short-term investments 0 (94,364) (139,891)
Proceeds from short-term investments 43,500 147,726 44,114
Net cash provided by (used in) investing activities 35,969 49,617 (106,835)
Cash flows from financing activities:      
Proceeds from issuance of Ordinary shares, net 45,535 467 0
Proceeds from exercise of options and warrants 13 129 2,430
Repayment of short term loan (15,000) 0 0
Proceeds from short term loan 18,000 15,000 0
Proceeds from issuance of warrants 15,000 3,633 0
Proceeds from bifurcated embedded derivatives 0 4,179 0
Proceeds from convertible note 0 563 0
Net cash provided by financing activities 63,548 23,971 2,430
Increase (decrease) in cash, cash equivalents and restricted cash 30,532 (15,685) (216,990)
Cash, cash equivalents and restricted cash at beginning of year 44,240 59,925 276,915
Cash, cash equivalents and restricted cash at end of period 74,772 44,240 59,925
Non-cash activity:      
Purchase of property and equipment in trade payables 48 54 2,739
Reclassification of warrant liability to equity 0 0 3,104
Conversion of convertible notes 550 0 0
Share settlement of employee liability 1,124 0 0
Right-of-use assets obtained in exchange for lease liabilities 2,230 1,097 0
Transfer from inventory to property and equipment, net 800 0 0
Supplemental disclosure of cash flows information:      
Cash received from interest 3,638 3,384 1,905
Cash paid for income taxes 358 995 590
Interest paid 51 0 0
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 72,262 41,232 56,762
Restricted cash 0 0 162
Non-current restricted cash 2,510 3,008 3,001
Total cash, cash equivalents and restricted cash $ 74,772 $ 44,240 $ 59,925