Financial Instruments (Tables)
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6 Months Ended |
12 Months Ended |
Jun. 30, 2026 |
Dec. 31, 2025 |
| Financial Instruments [Abstract] |
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| Schedule of Financial Assets and Liabilities Recurring Basis |
The following table sets forth the Company’s financial assets and liabilities that are measured at fair value, on a recurring basis: | | | As of June 30, 2026 | | | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | | | | | USD | | | USD | | | USD | | | USD | | | | | thousands | | | thousands | | | thousands | | | thousands | | | Financial liabilities | | | | | | | | | | | | | | Warrant Liability (PIPE) | | $ | - | | | $ | - | | | $ | 33 | | | $ | 33 | | | Total | | $ | - | | | $ | - | | | $ | 33 | | | $ | 33 | | | | | As of December 31, 2025 | | | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | | | | | USD | | | USD | | | USD | | | USD | | | | | thousands | | | thousands | | | thousands | | | thousands | | | Financial liabilities | | | | | | | | | | | | | | 2024 Convertible Notes | | $ | - | | | $ | - | | | $ | 12,869 | | | $ | 12,869 | | | Warrants Liability | | | - | | | | - | | | | 370 | | | | 370 | | | Total | | $ | - | | | $ | - | | | $ | 13,239 | | | $ | 13,239 | |
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The following table sets forth the Company’s financial assets and liabilities that are measured at fair value, on a recurring basis: | | | December 31, 2025
Fair value hierarchy | | | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | | | | | USD thousands | | | USD thousands | | | USD thousands | | | USD thousands | | | Financial liabilities | | | | | | | | | | | | | | Liability for future equity (SAFE) | | | — | | | | — | | | | — | | | | — | | | Convertible notes | | | — | | | | — | | | | 12,869 | | | | 12,869 | | | Warrants liability | | | — | | | | — | | | | 370 | | | | 370 | | | Total | | | — | | | | — | | | | 13,239 | | | | 13,239 | | | | | December 31, 2024
Fair value hierarchy | | | | | Level 1 | | | Level 2 | | | Level 3 | | | Total | | | | | USD thousands | | | USD thousands | | | USD thousands | | | USD thousands | | | Financial liabilities | | | | | | | | | | | | | | Liability for future equity (SAFE) | | | — | | | | — | | | | 1,206 | | | | 1,206 | | | Convertible notes | | | — | | | | — | | | | 11,649 | | | | 11,649 | | | Warrants liability | | | — | | | | — | | | | 244 | | | | 244 | | | Total | | | — | | | | — | | | | 13,099 | | | | 13,099 | |
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| Schedule of Monte Carlo Simulation Inputs |
The Monte Carlo simulation included the following inputs: | | | December 31, | | | | | 2025 | | | Expected term | | | 3 years | | | Expected volatility | | | 53.56 | % | | Risk-free interest rate | | | 3.63 | % | | Expected dividend yield | | | - | | The Monte Carlo simulation included the following inputs: | | | December 31, | | | | | 2025 | | | Expected term | | | 3 years | | | Expected volatility | | | 53.56 | | | Risk-free interest rate | | | 3.63 | | | Expected dividend yield | | | - | | The Monte Carlo simulation included the following inputs: | | | June 30, | | | | | 2026 | | | Expected term | | | Until
September 25,
2026 | | | Expected volatility | | | 72.21% | | | Share price | | | $0.39 | |
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The Monte Carlo simulation included the following inputs: | | | December 31,
2025 | | December 31,
2024 | | Expected term | | 3 years | | 3 years | | Expected volatility | | 53.56% | | 59.44% | | Risk-free interest rate | | 3.63% | | 4.42% | | Expected dividend yield | | 0% | | 0% | The Monte Carlo simulation included the following inputs: | | | December 31,
2025 | | December 31,
2024 | | Expected term | | 3 years | | 3 years | | Expected volatility | | 53.56% | | 59.44% | | Risk-free interest rate | | 3.63% | | 4.42% | | Expected dividend yield | | 0% | | 0% |
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| Schedule of Warrant Liabilities Measured Utilizing Level 3 Inputs |
The change in the fair value of the warrant liabilities measured utilizing Level 3 inputs for the six months ended June 30, 2026, is summarized below. | Warrant liability at December 31, 2025 | | $ | 370 | | | Change in fair value of warrant liability | | | 20 | | | Reclassification to equity | | | (390 | ) | | Warrant liability at June 30, 2026 | | $ | - | | The change in the fair value of the PIPE Warrant liabilities measured utilizing Level 3 inputs for the six months ended June 30, 2026, is summarized below. | PIPE Warrant liability at March 27, 2026 | | $ | 1,229 | | | Change in fair value of PIPE Warrant liability | | | (1,087 | ) | | PIPE Warrant liability at March 31, 2026 | | | 142 | | | Change in fair value of PIPE Warrant liability | | | (109 | ) | | PIPE Warrant liability at June 30, 2026 | | $ | 33 | |
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The change in the fair value of the warrant liability measured utilizing Level 3 inputs is summarized below: | | | USD
thousands | | | Warrant liability at December 31, 2024 | | | 244 | | | Change in fair value of warrant liability | | | 126 | | | Warrant liability at December 31, 2025 | | $ | 370 | |
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| Schedule of Convertible Notes Liability Measured Utilizing Level 3 Inputs |
The change in the fair value of the 2024 Convertible Notes liability measured utilizing Level 3 inputs for the six months ended June 30, 2026, is summarized below. | 2024 Convertible Notes liability at December 31, 2025 | | $ | 12,869 | | | Change in fair value of convertible notes liability | | | (193 | ) | | Reclassification to equity | | | (12,676 | ) | | 2024 Convertible Notes liability at June 30, 2026 | | $ | - | |
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The change in the fair value of the of the Convertible Notes measured utilizing Level 3 inputs is summarized below: | | | USD
thousands | | | Convertible notes liability at December 31, 2024 | | | 11,649 | | | Additional amount received | | | 1,072 | | | Change in fair value of convertible notes liability | | | 148 | | | Convertible notes liability at December 31, 2025 | | $ | 12,869 | |
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| Schedule of Change in Fair Value of the SAFE |
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The change in the fair value of the SAFE was measured utilizing Level 3 inputs for the years ended December 31, 2024 and 2025, is summarized below: | | | USD
thousands | | | SAFE liability at December 31, 2024 | | $ | 1,206 | | | Change in fair value of SAFE liability | | | (149 | ) | | Conversion of SAFE | | | (1,057 | ) | | SAFE liability at December 31, 2025 | | $ | — | |
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