v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Loss $ (119,790) $ (39,031) $ (86,636)
Adjustments to the profit or loss items:      
Finance expenses, net 2,193 1,231 13
Other expenses 13 445 192
Financial liabilities recorded as listing expenses 7,648
Finance expenses related to convertible loans and warrants 28,648 7,227 5,016
Revaluation of liability to Legacy 186 269 810
ELOC 1,570
Share listing expenses 12,312
Cost of share-based payment to consultants and employees 6,408 2,420
Cost of share-based payment 3,189 2,070 7,115
Issuance of prefunded warrants 12,792
Depreciation and amortization 1,896 2,379 7,637
Impairment of goodwill and intangible assets 44,741 653 15,258
Change in employee benefit liabilities, net (223) (42) (43)
Gain on loss of control in subsidiaries [1] (4,599)    
Change in deferred tax liabilities (168) (37) (39)
Adjustments to the profit or loss items 95,076 16,615 57,489
Changes in asset and liability items:      
Decrease (increase) in trade receivables 687 1,890 13,242
Decrease (increase) in other assets 447 665 (4,730)
Increase (decrease) in trade payables (2,500) (1,591) (3,436)
Decrease (increase) in inventories 1,812
Change in balances of government grants 63 70 (824)
Decrease (increase) in other accounts payable (4,034) 4,733 [2] 7,980
Changes in asset and liability (5,337) 5,767 [2] 14,044
Cash paid and received during the year for:      
Interest paid, net (971) (277) (717)
Taxes paid (376) (184) (382)
Cash paid and received during the year (1,347) (461) (1,099)
Net cash used in operating activities (31,398) (17,110) (16,202)
Cash flows from investing activities:      
(Investment in) restricted bank deposit (157) (337) (1,493)
Withdrawal from restricted cash 57 1,407 3,926
Change in long-term deposits 177
Purchase of property and equipment (33) (84) (297)
Credit line to a related party (1,615)
Net cash provided by (used in) investing activities (133) (452) 2,136
Cash flows from financing activities:      
Issuance of ordinary shares, net of issuance expenses 2,379
Repayment of lease liabilities (1,001) (1,017) (1,711)
Exercise of options and convertible warrants 5,146 2,005
Receipt of short-term loans 32,880 19,815 15,227
Acquisition of non-controlling interest (6,768)
Repayment of short-term loans (6,536) (4,973)
Net cash provided by financing activities 25,343 17,176 12,927
Exchange rate differences on cash and cash equivalents 4,866 (51) 667
(Decrease) in cash and cash equivalents (1,322) (437) (472)
Cash and cash equivalents at the beginning of the year 3,085 3,522 3,994
Cash and cash equivalents at the end of the year 1,763 3,085 3,522
Non-cash transactions:      
BST merger [1] 18,514    
Right-of-use asset and liability 343 627 (2,516)
actuarial (gain) loss from defined benefit plan (43)
Employee benefit assets and liabilities 2,693 168 97
Reclassification of deferred issuance cost to equity 1,384
Dividend distribution to non-controlling interests 369
Reclassification of liability to equity 10,259 2,670
Exercise of warrants 3,130
Conversion of convertible loans $ 32,348 $ 7,876 $ 6,143
[1] For more information, see Note 1(f).
[2] Reclassification of taxes paid in 2024.