Annual report [Section 13 and 15(d), not S-K Item 405]

Income Taxes (Tables)

v3.25.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Taxes [Abstract]  
Schedule of Statutory Tax Rate and Effective Tax Rate

A reconciliation of the U.S. federal statutory tax rate and the effective tax rate is as follow:

 

    As of December 31,  
    2024     2023  
             
Statutory U.S. federal income tax rate     (21 )%     (21 )%
U.S. vs foreign tax rate differential     (2 )     (2 )
Change in deferred tax asset valuation allowance     23       23  
Effective tax rate    
-
 %    
-
 %
Schedule of Loss Before Taxes on Income

Loss before taxes on income, consists of the following:

 

    Year ended
December 31,		  
    2024     2023  
             
United States     (3,511 )     6,085  
Israel     21,225       20,061  
      17,714       26,146  
Schedule of Net Deferred Tax Assets

Net deferred tax assets as of December 31, 2024 and 2023 consisted of the following:

 

    As of December 31,  
    2024     2023  
             
Deferred tax assets:            
Net operating loss carryforwards     42,454       29,047  
Research and development expenses, net     10,898       2,982  
Lease liability     785       898  
Research and development tax credits (*)     601      
-
  
Other     838       200  
Total deferred tax assets     55,576       33,127  
Deferred tax liabilities:                
Right of use assets     (847 )     (964 )
IPR&D - Intangible Asset     (127 )    
-
  
Private Placement Warrants     (5,571 )    
-
  
Fixed assets     (190 )     (16 )
Total deferred tax liabilities     (6,735 )     (980 )
Valuation allowance     (48,841 )     (32,147 )
Net deferred tax assets    
-
      
-
  

 

(*) Research and development tax credits will begin to expire in 2038.