Stock-Based Compensation

6 Months Ended

Jun. 30, 2026

Stock-Based Compensation [Abstract]

STOCK-BASED COMPENSATION

NOTE 9 - STOCK-BASED COMPENSATION:

Stock Options

As of June 30, 2026, and December 31, 2025, the number of ordinary shares included in the Company’s option plans totaled to 49,893,452 and 44,740,618, respectively.

5,000,941 out of the outstanding options that have not yet vested as of June 30, 2026, have acceleration mechanisms according to certain terms set forth in the grant agreements primarily in the case of an M&A Transaction which constitutes a Liquidation Event.

As of June 30, 2026, the unrecognized compensation costs related to those unvested stock options are $3,019 thousand, which are expected to be recognized over a weighted-average period of 2.85 years.

The following is a summary of the status of the Company’s share option plan as of June 30, 2026:

		Six months ended
		June 30, 2026
		Number of Options				Weighted-Average Exercise price
Options outstanding as of December 31, 2025			15,857,856			$	1.81
Granted during the period			397,628			$	1.66
Exercised during the period			(2,652,385	)		$	0.82
Forfeited during the period			(456,891	)		$	2.62
Options outstanding as of June 30, 2026			13,146,208			$	1.98
Options exercisable as of June 30, 2026			6,629,554			$	1.22

The following table summarizes information about stock options outstanding as of June 30, 2026:

Outstanding as of June 30, 2026																				Exercisable as of June 30, 2026
Range of exercise prices				Number outstanding				Weighted average remaining contractual term				Weighted average exercise price				Aggregate intrinsic value (U.S. dollars in thousands)				Number Exercisable				Weighted average remaining contractual term				Weighted Average exercise price				Aggregate intrinsic value (U.S. dollars in thousands)
$	0.15-$0.86				5,604,875				3.26				0.82				8,071				5,604,875				3.26				0.82				8,071
$	1.66-$1.87				400,941				6.53				1.66				241				102,720				6.48				1.67				61
$	2.00-$2.13				2,405,710				6.44				2.00				625				32,497				5.25				2.13				4
$	2.27				1,156,960				6.00				2.27				-				11,740				6.18				2.27				-
	$2.39-$2.41				538,709				5.05				2.40				-				538,709				5.05				2.40				-
$	3.25				1,350,000				6.46				3.25				-				-				-				-				-
$	4.25				1,350,000				6.46				4.25				-				-				-				-				-
$	4.99				147,306				3.55				4.99				-				147,306				3.55				4.99				-
$	5.36				131,250				3.001				5.36				-				131,250				3.00				5.36				-
$	7.58				56,920				2.55				7.58				-				56,920				2.55				7.58				-
$	9.07				3,537				2.46				9.07				-				3,537				2.46				9.07				-

The calculated fair value of option grants was estimated using the Black-Scholes option-pricing model with the following assumptions:

		For the six months ended on June 30, 2026		For the six months ended on June 30, 2025
Expected term		4		4-5
Expected volatility		68.19%		59.63%-63.35%
Expected dividend rate		0%		0%
Risk-free rate		3.65%		3.73%-4.36%

During the six-month period ended on June 30, 2026, 397,628 options were granted to related parties (please refer to Note 13 for further information).

As of June 30, 2026, the unrecognized compensation costs related to unvested stock options was $3,850 thousand, which are expected to be recognized over a weighted-average period of 2.82 years.

The weighted-average fair value of the options that were granted during the period ended June 30, 2026, was $1.66 at the grant date.

The total intrinsic value of options exercised during the period of three months ended June 30, 2026 was $3,539 thousand.

The following table presents the classification of the stock options expenses for the periods indicated:

		Six months ended June 30								Three months ended June 30
		2026				2025				2026				2025
		U.S. dollars in thousands
Cost of revenue			40				37				20				10
Research and development			83				230				42				95
Sales and marketing			30				84				(13	)			26
General and administrative			832				311				424				148
Total stock-based compensation			985				662				473				279

Restricted Stock Units

The following is a summary of the status of the Company’s RSU’s as of June 30, 2026, as well as changes during the period of six months ended June 30, 2026:

		Number of RSUs				Weighted-Average Grant Date Fair Value
RSUs outstanding at the beginning of the year			8,602,317			$	2.95
Granted during the period			4,335,811			$	1.38
Vested during the period			(2,577,405	)		$	3.23
Forfeited during the period			(973,311	)		$	2.76
Outstanding at the end of the period			9,387,412			$	2.17

As of June 30, 2026, the unrecognized compensation cost related to unvested RSUs totaled to approximately $17,995 thousand and is expected to be expensed over a weighted-average recognition period of approximately 2.41 years.

During the six-month period ended on June 30, 2026, 688,929 RSU’s were granted to several related parties (please refer to Note 13 regarding Related Parties).

The following table presents the classification of RSU’s expenses for the periods indicated:

		Six months ended June 30								Three months ended June 30
		2026				2025				2026				2025
		U.S. dollars in thousands
Cost of revenue			371				459				187				236
Research and development			2,532				3,525				1,266				1,789
Sales and marketing			1,253				1,976				613				807
General and administrative			1,105				1,319				571				664
Total stock-based compensation-RSUs			5,261				7,279				2,637				3,496