v3.26.1
LEASES
 12 Months Ended
Dec. 31, 2025
Notes and other explanatory information [abstract]  
LEASES

NOTE 8 – LEASES

 

  A) Information of accounting policy

 

The Company’s leases include property and vehicle leases.

 

At the commencement date, the Company measures the lease liability at the present value of the lease payments that are not paid at that date. Simultaneously, the Company recognizes a right-of-use asset in the amount of the lease liability plus any initial direct costs incurred by the Company.

 

Variable lease payments that are linked to the Consumer Price Index (CPI) are initially measured using the index at the lease commencement date and are included in the calculation of the lease liability. When there is a change in lease cash flows due to a change in the index, the Company remeasures the lease liability based on the updated contractual cash flows, with a corresponding adjustment to the right-of-use asset.

 

Since the interest rate implicit in the lease cannot be readily determined, the Company uses the Company’s incremental borrowing rate.

 

The lease term is the non-cancellable period for which the Company has the right to use an underlying asset, together with both the periods covered by an option to extend the lease, if the Company is reasonably certain to exercise that option, and periods covered by an option to terminate the lease, if the Company is reasonably certain not to exercise that option.

 

After the commencement date, the Company measures the right-of-use asset applying the cost model, less any accumulated depreciation and any accumulated impairment losses and adjusted for any remeasurement of the lease liability.

 

Assets are depreciated by the straight-line method over lease period as follows:

 

   Years
Property  3-6
Vehicles  3

 

Interest on the lease liability is recognized in comprehensive loss in each period during the lease term in an amount that produces a constant periodic rate of interest on the remaining balance of the lease liability (see note 2e(2)(a)).

 

 

PULSENMORE LTD.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

 

NOTE 8 – LEASES (cont.)

 

  B) Right-of-use assets

 

The lease agreements for the vehicles are for 3 years, whereas the lease agreements for the property are for 3-6 years and may include an option to extend the lease period. According to the lease agreements, the Company is reasonably certain to exercise such an option for 3 more years, and therefore this period was taken into consideration in the calculation of the lease liability.

 

The Company leases office building in Ramat Gan which covers 390 square meters, with monthly rental payments estimated at approximately NIS 52,000 (approximately $16,301). The lease term is three years, with an option for a three-year extension. In November 2024, the Company extended the lease for an additional 36 months, starting from January 1, 2025. Under the extension terms, the monthly rental payments are estimated at approximately NIS 48,000 (approximately $15,047). The Company maintains restricted deposits in favor of the lessor as collateral for certain lease agreements, which are presented as restricted deposits in amount of NIS 140,000 (approximately $43,887) the statement of financial position.

 

The Company entered into a lease agreement for its production line in Omer for a period ended on December 31, 2025, with an option to extend the lease period for an additional period of 12 months. In July 2023 the Company signed an addendum to the lease agreement, under which 50.5 square meters were added to the leased space. The leased space in Omer covers 935 square meters, with monthly rental payments estimated at approximately NIS 42,000 (approximately $13,166).

 

On October 1, 2025, the Company exercised the option for an additional 12 months, starting January 1, 2026. Under the extension terms, the monthly rental payments are estimated at approximately NIS 43,000 (approximately $13,480).

  

   Property   Vehicles   Total 
   NIS in thousands 
             
Cost:               
Balance as of January 1, 2025   4,431    656    5,087 
Additions (*)   473    -    473 
Balance as of December 31, 2025   4,904    656    5,560 
                
Accumulated amortization:               
Balance as of January 1, 2025   2,795    512    3,307 
Additions   894    74    968 
Balance as of December 31, 2025   3,689    586    4,275 
    1,215    70    1,285 
                
Cost:               
Balance as of January 1, 2024   4,792    550    5,342 
Additions   -    106    106 
Other changes   (361)   -    (361)
Balance as of December 31, 2024   4,431    656    5,087 
                
Accumulated amortization:               
Balance as of January 1, 2024   1,902    394    2,296 
Additions   893    118    1,011 
Balance as of December 31, 2024   2,795    512    3,307 
    1,636    144    1,780 
                
Cost:               
Balance as of January 1, 2023   4,760    463    5,223 
Additions   32    87    119 
Balance as of December 31, 2023   4,792    550    5,342 
                
Accumulated amortization:               
Balance as of January 1, 2023   1,017    268    1,285 
Additions   885    126    1,011 
Balance as of December 31, 2023   1,902    394    2,296 
    2,890    156    3,046 

 

 

PULSENMORE LTD.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

 

NOTE 8 – LEASES (cont.)

 

Convenience translation into U.S. dollars (see note 2c(3))

 

   Property   Vehicles   Total 
   in thousands 
             
Cost:               
Balance as of January 1, 2025   1,389    206    1,595 
Additions (*)   148    -    148 
Balance as of December 31, 2025   1,537    206    1,743 
                
Accumulated amortization:               
Balance as of January 1, 2025   876    161    1,037 
Additions   280    23    303 
Balance as of December 31, 2025   1,156    184    1,340 
    381    22    403 

 

(*)Additions during the year relate to the extension of the Company’s lease agreement for its office facilities.

 

  C) Lease liabilities

 

   Property   Vehicles   Total 
   NIS in thousands 
             
Balance as of January 1, 2025   1,969    150    2,119 
Additions (*)   473    -    473 
Interest expense   280    35    315 
Payments   (1,226)   (116)   (1,342)
Balance as of December 31, 2025   1,496    69    1,565 
                
Short-term lease liabilities   978    45    1,023 
Long-term lease liabilities   518    24    542 
Balance as of December 31, 2025   1,496    69    1,565 
                
Balance as of January 1, 2024   3,164    166    3,330 
Additions   -    106    106 
Other changes   (350)   -    (350)
Interest expense   432    60    492 
Payments   (1,277)   (182)   (1,459)
Balance as of December 31, 2024   1,969    150    2,119 
                
Short-term lease liabilities   923    76    999 
Long-term lease liabilities   1,046    74    1,120 
Balance as of December 31, 2024   1,969    150    2,119 
                
Balance as of January 1, 2023   3,747    219    3,966 
Additions   32    87    119 
Interest expense   517    69    586 
Payments   (1,132)   (209)   (1,341)
Balance as of December 31, 2023   3,164    166    3,330 
                
Short-term lease liabilities   823    100    923 
Long-term lease liabilities   2,341    66    2,407 
Balance as of December 31, 2023   3,164    166    3,330 

 

 

PULSENMORE LTD.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

 

NOTE 8 – LEASES (cont.)

 

Convenience translation into U.S. dollars (see note 2c(3))

 

   Property   Vehicles   Total 
   in thousands 
             
Balance as of January 1, 2025   617    47    664 
Additions (*)   148    -    148 
Interest expense   88    11    99 
Payments   (384)   (36)   (420)
Balance as of December 31, 2025   469    22    491 
                
Short-term lease liabilities   307    14    321 
Long-term lease liabilities   162    8    170 
Balance as of December 31, 2025   469    22    491 

 

(*)Additions during the year relate to the extension of the Company’s lease agreement for its office facilities.