Quarterly report [Sections 13 or 15(d)]

Fair Value of Financial Instruments (Tables)

v3.25.1
Fair Value of Financial Instruments (Tables)
3 Months Ended
Mar. 31, 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: 

 

    March 31, 2025  
    Level 1     Level 2     Level 3     Fair Value  
Assets:                        
Cash equivalents:                                
Money market funds     16,823      
-
     
-
      16,823  
                                 
Liabilities:                                
Foreign exchange contracts payable    
-
      24      
-
      24  
Contingent consideration    
-
     
-
      79       79  
Warrants    
-
     
-
      5,904       5,904  
     
-
      24       5,983       6,007  

 

    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:

 

    Three Months Ended
March 31,
2025
    Three Months Ended
March 31,
2024
 
Beginning balance     2,287      
-
 
Issuance of Common Warrants     4,531       28,745  
Repricing of warrants under the Inducement Letter Agreements (*)     3,300      
-
 
Change in fair value     (4,214 )     8,010  
Ending balance     5,904       36,755  

 

(*) 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 Company determined the fair value of the liabilities for the warrants using the Black-Scholes model, a Level 3 measurement, within the fair value hierarchy.

    March 31,
2025
    March 31,
2024
 
Underlying value of Common Stock ($)     0.56       4.5  
Exercise price ($)     0.93-2.31       2.31  
Expected volatility (%)     114.2-120.7       117.8  
Expected terms (years)     1.25-5       2.25  
Risk-free interest rate (%)     3.9-4       4.5