v3.26.1
Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:          
Loss before tax for the year $ (45,450) $ (24,621) $ (174,590) $ (35,401) $ (20,914)
Share-based compensation 9,022 15,274 114,205 3,657 3,269
Issuance of restricted shares to investors 465 610 7,811
Depreciation and amortization 1,546 2,274 3,450 2,273 225
Decrease in other receivables 13 699 1,239 140 2,938
Impairment of intangible assets     1,542 2,197
Impairment of goodwill     6,025 6,813
Decrease in trade payables (6,910) (549) (862) (2,780) 2,074
Decrease in other payables (1,132) (375) (440) 1,761 (235)
Increase in other liabilities     19
Revaluation of financial liabilities at fair value (1,516) (1,500) 1,890 1,496
Interest expenses and revaluation of convertible notes 5,253 2,277 18,812 6,818 3,899
Financial expenses, net due to bridge loans principal amounts 13 23 44 435
Interest on leases 18 18  
Revaluation of Investment in gold 158  
Remeasurement of investment in associated company     (22,164)
Financial expenses, net due to revaluation of SEPA 11,644  
Interest expenses due to short term loan 1,315 3,634
Issuance of warrants to the placement agent 426  
Share in losses of associated companies, net     101
Issuance of ordinary shares and warrants due to underwriter fees     990 238 11
Issuance cost due to inducement Alpha warrant B’s exercise price     184
Issuance of ordinary shares due to commitment/facility fee     2,639 460
SPAC transaction - listing costs     16,802
Net cash flow used in operating activities (25,360) (4,145) (17,001) (11,314) (12,479)
Cash flows from investing activities:          
Purchase of property, plant and equipment (146) (21) (60)
Investment in Gold (1,001)    
Capitalized development cost     (169) (976)
Net cash flow used in investing activities (1,147) (190) (1,036)
Cash flows from financing activities:          
Repayment of short-term loan (200) (500)
Repayment of convertible notes (246) (563)
Payment of lease liabilities (26) (41) (53) (80) (42)
Repayment of bridge loans (301) (250) (370) (34) (30)
Proceeds from SEPA share issuance, net 50,523  
Repayment of pre-paid advances/ advance payment for equity, net     (423) 2,679
Proceeds from issuance of ordinary shares and pre-funded warrants     6,945 2,630
Exercise of warrants and pre-funded warrants into ordinary shares     2,399 642
Proceeds from issuance of convertible notes and security 3,426 31,231 3,303 2,606
Proceeds from short term loan     1,000
Proceeds from issuance of bridge loans and warrants     550
Issuance of shares in the SPAC transaction, net     2,919
Net cash flow from financing activities 50,196 2,689 29,745 13,110 11,954
Increase (decrease) in cash and cash equivalents 23,689 (1,456) 12,744 1,606 (1,561)
Cash and cash equivalents at beginning of period 12,201 2,343 2,343 168 1,398
Exchange rate differences on cash and cash equivalent (2,350) (137) (2,886) 569 331
Cash and cash equivalents at end of period 33,540 750 12,201 2,343 168
Appendix A – Non-Cash transactions during the period:          
Conversion of financial liability into ordinary shares     4,134 645 5,330
Conversion of bridge loans into ordinary shares and warrants     6 128 5,192
Conversion of convertible notes (and warrants) into ordinary shares 11,080 3,204 43,146 8,530 175
Exercise of cashless options into ordinary shares     314 2,925
Exercise of warrants and pre-funded warrants into ordinary shares     4,824 1,008
Issuance cost     152
Other current receivable in connection to exercise of Series A Common Warrant     1,510
Remeasurement of investment in associated company     (22,164)
Issuance of warrants to the placement agent in connection to RBW May agreement     $ (1,728)
Issuance of Ordinary shares to services providers 911      
Issuance of warrants to the placement agent – issuance expenses against additional paid in capital $ (698)