v3.26.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Components of Income (Loss) Before Taxes
The components of income (loss) before taxes on income are as follows (in thousands):
 
     Year ended December 31,  
     2025      2024      2023  
U.S.
   $ (2,672    $ 637      $ (7,696
Israel
     (3,323      (3,780      (9,358
Australia
     —         —         —   
Loss before taxes on income
   $ (5,995    $ (3,143    $ (17,054
Significant Components of Deferred Tax Assets
The significant components of the Company’s deferred tax assets were comprised of the following (in thousands):
 
     December 31,  
     2025      2024      2023  
Deferred tax assets:
        
Net operating loss carryforwards
   $ 73,691      $ 70,749      $ 69,906  
Stock-based compensation
     1,075        1,180        1,904  
Reserves and allowances
     261        463        229  
U.S. tax credits and other credits
     12,692        12,550        12,270  
Capitalized research and development expenditures
     6,881        8,825        9,750  
Operating lease right-of-use assets
     —         (1      (32
Operating lease liabilities
     —         2        33  
Other
     44        94        129  
Total deferred tax assets
     94,644        93,862        94,189  
Valuation allowance
     (94,644      (93,862      (94,189
Net deferred tax assets
   $ —       $ —       $ —   
Reconciliation of Expected Tax Expense with Actual Tax Expense
For the years ended December 31, 2025, 2024 and 2023 the expected tax expense based on the federal statutory rate is reconciled with the actual tax expense as follows:
 
     Year ended December 31,  
     2025     2025     2024     2024     2023     2023  
     (dollar amounts in thousands)  
U.S. federal statutory rate
   $ (1,259      21.0   $ (660      21.0   $ (3,581

21.0
State tax rate, net of federal effect
     2        (0.0     2        0.1       2  

0.0  
Foreign Tax Effects
            

Statutory tax rate difference between Israel and United States
     (67      1.1       (76      2.4       (187

1.1  
Changes in valuation allowances
     755        (12.6     868        (27.6     2,157  

(12.7
Other items
     9        (0.2     1        (0.0     (5

0.0  
Tax credits
            

Research and development credit
     (142      2.4       (280      8.9       (3,426

20.1  
U.S. Changes in valuation allowances
     683        (11.4     (544      17.3       4,695  

(27.5
Nontaxable or nondeductible items
            

Stock compensation
     17        (0.3     749        (23.8     358  

(2.1
Warrant valuation
     —         —        (79      2.5       (334

2.0  
Other nontaxable or nondeductible items
     2        (0.0     19        (0.7     322  

(1.9
Effective income tax rate
   $ —         0   $ —         0   $ —   

0