Quarterly report [Sections 13 or 15(d)]

Fair Value of Financial Instruments (Tables)

v3.25.2
Fair Value of Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value of Financial Instruments [Abstract]  
Schedule of Fair Value of Our Financial Assets and Liabilities

The following table summarizes the fair value of our financial assets and liabilities that were accounted for at fair value on a recurring basis, by level within the fair value hierarchy: 

 

    June 30, 2025  
    Level 1     Level 2     Level 3     Fair Value  
Assets:                        
Cash equivalents:                        
Money market funds     11,188      
-
     
-
      11,188  
Foreign exchange contracts receivable    
 
      93      
 
      93  
      11,188       93      
-
      11,281  
                                 
Liabilities:                                
Contingent consideration    
-
     
-
      80       80  
Warrants    
-
     
-
      4,405       4,405  
     
-
              4,485       4,485  

 

    December 31, 2024  
    Level 1     Level 2     Level 3       Fair Value  
Assets:                        
Cash equivalents:                        
Money market funds     12,251      
-
     
-
      12,251  
Foreign exchange contracts receivable    
-
      19      
-
      19  
      12,251       19      
-
      12,270  
Liabilities:                                
Contingent consideration    
-
     
-
      77       77  
Warrants                     2,287       2,287  
     
-
     
-
      2,364       2,364  
Schedule of Changes in the Fair Value Level 3 Warrants

The changes in the fair value of the Company’s Level 3 warrants, which are measured on a recurring basis are as follows:

 

    June 30,
2025
    December 31, 2024  
Beginning balance     2,287      
-
 
Issuance of Private Placement Warrants    
-
      28,745  
Issuance of Common Warrants     4,531      
-
 
Repricing of warrants under the Inducement Letter Agreements (*)     3,300      
-
 
Common Warrants exercise     (1 )    
-
 
Change in fair value     (5,712 )     (26,458 )
Ending balance     4,405       2,287  

 

(*) Repricing and exercise of the warrants under the Inducement Letter Agreements, which was charged to profit and loss. See Note 9A for further information.
Schedule of Fair Value of the Liabilities for the Warrants Using the Black-Scholes Model

The main assumptions used are as follows:

 

    June 30,
2025
    December 31,
2024
 
Underlying value of Common Stock ($)     0.45       0.73  
Exercise price ($)     0.93-2.31       2.31  
Expected volatility (%)     114-122.4       120.1  
Expected terms (years)     1-4.8       1.5  
Risk-free interest rate (%)     3.8-3.9       4.1