| MARKETABLE SECURITIES |
NOTE 3 - MARKETABLE SECURITIES The Company’s marketable securities include investments in equity securities of IC Hotels (“DNA”) and Nano Dimension Ltd. (“Nano”), which are classified as Level 1 based on quoted prices in active markets, and derivative instruments consisting of put options and written call options on Nano’s shares, all of which are classified as Level 2 based on observable inputs derived from market prices in active markets and measured at fair value, with changes in fair value recognized in income. Composition: | | | June 30,
2026 | | | December 31,
2025 | | | Short -term: | | | | | | | | DNA | | $ | 571 | | | $ | 540 | | | Entera (*) | | | - | | | | 227 | | | Pelthos (**) | | | - | | | | 4,650 | | | Nano’s Put options and written Call options, net (***) | | | 275 | | | | - | | | | | $ | 846 | | | $ | 5,417 | | | | | June 30,
2026 | | | December 31,
2025 | | | Long-term: | | | | | | | | Nano (****) | | $ | 21,866 | | | | 8,371 | | | (*) | During the six months ended June 30, 2026, the Company sold 117,000 shares of Entera common stock for aggregate proceeds of $176. As a result, as of June 30, 2026, the Company no longer holds any shares of Entera common stock. | | (**) | During the six months ended June 30, 2026, the Company sold 150,000 shares of Pelthos common stock for aggregate proceeds of $3,625. As a result, as of June 30, 2026, the Company no longer holds any shares of Pelthos common stock. | | (***) | The written call options and put options on Nano’s shares are held with the same counterparty and are subject to a netting arrangement. Accordingly, they are presented on a net basis in the consolidated balance sheets. As of June 30, 2026, the fair values of the written call options (a liability of $875) and the put options (an asset of $1,150). For further details, see Note 18. | | (****) | During the six months ended June 30, 2026, the Company purchased 12,738,504 ordinary shares for an aggregate purchase price of $20,896 and sold 3,095,587 shares of Nano common stock for aggregate proceeds of $5,879. During the six and the three months ended June 30, 2026, the Company recognized a loss of $2,058 and $1,122, respectively, related to marketable securities, which were recognized in “financial income, net” in the consolidated statements of comprehensive income. |
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