Actelis Networks, Inc(NASDAQ:ASNS) 
Actelis is a networking solutions company with a mission to enable fast, secure, cost-effective and easily implemented communication for Internet of Things, or IoT, projects, deployed over wide areas such as cities, campuses, airports, military bases, roads and rail.
Website: https://actelis.com/
Founded: 1998
IPO Price: $4 (May 13, 2022)
CEO: Tuvia Barlev
Sector: Technology
Industry: General
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At a glance:
Bull Thesis:
Bear Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenues | 958,000 | 1,366,000 | 643,000 | 941,000 | 721,000 | 1,062,000 | 2,541,000 | 3,431,000 | 726,000 | 1,017,000 | 845,000 | 1,896,000 | 1,848,000 | 2,534,000 | 1,348,000 | 3,081,000 | 1,868,000 |
cost of revenues | 723,000 | 887,000 | 460,000 | 636,000 | 470,000 | 698,000 | 798,000 | 1,488,000 | 506,000 | 663,000 | 619,000 | 1,264,000 | 1,160,000 | 1,463,000 | 813,000 | 1,159,000 | 1,286,000 |
gross profit | 235,000 | 479,000 | 183,000 | 305,000 | 251,000 | 364,000 | 1,743,000 | 1,943,000 | 220,000 | 354,000 | 226,000 | 632,000 | 688,000 | 1,071,000 | 535,000 | 1,922,000 | 582,000 |
yoy | -6.37% | 31.59% | -89.50% | -84.30% | 14.09% | 2.82% | 671.24% | 207.44% | -68.02% | -66.95% | -57.76% | -67.12% | 18.21% | ||||
qoq | -50.94% | 161.75% | -40.00% | 21.51% | -31.04% | -79.12% | -10.29% | 783.18% | -37.85% | 56.64% | -64.24% | -8.14% | -35.76% | 100.19% | -72.16% | 230.24% | |
operating expenses: | |||||||||||||||||
research and development expenses | 689,000 | 691,000 | 591,000 | 675,000 | 681,000 | 590,000 | 543,000 | 603,000 | 647,000 | 585,000 | 691,000 | 669,000 | 757,000 | 717,000 | 723,000 | 676,000 | 650,000 |
sales and marketing expenses | 675,000 | 711,000 | 789,000 | 700,000 | 666,000 | 638,000 | 727,000 | 647,000 | 627,000 | 698,000 | 691,000 | 712,000 | 929,000 | 925,000 | 790,000 | 837,000 | 730,000 |
general and administrative expenses | 734,000 | 675,000 | 805,000 | 703,000 | 716,000 | 771,000 | 790,000 | 790,000 | 817,000 | 726,000 | 971,000 | 969,000 | 865,000 | 1,433,000 | 1,028,000 | 1,067,000 | 635,000 |
total operating expenses | 2,098,000 | 2,150,000 | 2,112,000 | 2,078,000 | 2,063,000 | 1,999,000 | 2,060,000 | 1,877,000 | 2,091,000 | 2,009,000 | 2,353,000 | 2,350,000 | 2,551,000 | 3,075,000 | 2,541,000 | 2,580,000 | 2,015,000 |
operating income | -1,863,000 | -1,671,000 | -1,929,000 | -1,773,000 | -1,812,000 | -1,635,000 | -317,000 | -1,871,000 | -1,655,000 | -2,127,000 | -1,718,000 | -1,863,000 | -2,004,000 | -2,006,000 | -658,000 | -1,433,000 | |
yoy | 2.81% | 2.20% | 508.52% | -3.15% | -1.21% | -85.10% | 0.43% | -17.42% | 6.03% | 161.09% | 30.01% | ||||||
qoq | 11.49% | -13.37% | 8.80% | -2.15% | 10.83% | 415.77% | 13.05% | -22.19% | 23.81% | -7.78% | -7.04% | -0.10% | 204.86% | -54.08% | |||
interest expense | -14,000 | -20,750 | -27,000 | -22,000 | -34,000 | -147,500 | -246,000 | -128,000 | -161,000 | -171,000 | |||||||
other financial expense | -579,000 | ||||||||||||||||
net comprehensive loss for the period | -2,456,000 | -1,435,250 | -1,980,000 | -1,901,000 | -1,860,000 | -643,750 | -511,000 | -78,000 | -1,986,000 | -1,088,750 | -867,000 | -1,593,000 | -1,895,000 | -2,125,000 | -2,207,000 | -1,654,000 | -4,639,000 |
net income per share | -0.16 | -5.1 | -0.17 | -0.21 | -0.22 | -0.26 | -0.09 | -0.01 | -0.5 | -0.32 | -0.68 | -1.09 | -0.07 | -0.13 | -0.17 | -2.26 | |
weighted-average number of common stocks used in computing net loss per share – basic and diluted | 15,579,527 | 1,454,785 | 11,787,617 | 9,144,125 | 8,520,110 | 5,146,049 | 6,014,548 | 3,978,828 | 2,685,626 | ||||||||
other income | -18,250 | -73,000 | -163,000 | ||||||||||||||
other financial income | -681,000 | -24,000 | -106,000 | -14,000 | -136,000 | 52,000 | 7,000 | 92,000 | |||||||||
operating profit | 66,000 | ||||||||||||||||
interest expenses | -137,000 | -207,000 | -180,000 | ||||||||||||||
weighted-average number of common stocks used in computing net profit per share – basic and diluted | 4,257,674 | ||||||||||||||||
other financial income (expenses) | -22,000 | 1,421,000 | 296,000 | 148,000 | |||||||||||||
weighted-average number of common stock used in computing net loss per share – basic and diluted | 2,333,381 | 11,621,238 | 17,317,532 | 9,522,719 | 2,052,134 | ||||||||||||
weighted-average number of shares of common stock used in computing net loss per share – basic and diluted | 1,734,160 | ||||||||||||||||
financial expenses | -1,100,750 | -201,000 | -996,000 | -3,206,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 |
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assets | ||||||||||||||||
current assets: | ||||||||||||||||
cash and cash equivalents | 7,546,000 | 4,057,000 | 1,454,000 | 393,000 | 1,122,000 | 1,967,000 | 2,241,000 | 2,412,000 | 1,211,000 | 620,000 | 682,000 | 2,573,000 | 808,000 | 3,943,000 | 10,206,000 | 12,286,000 |
restricted cash and bank deposits | 77,000 | |||||||||||||||
trade receivables, net of allowance | 930,000 | 1,058,000 | 624,000 | 943,000 | 1,234,000 | 1,616,000 | 1,828,000 | 690,000 | 533,000 | 664,000 | 715,000 | 1,759,000 | 2,473,000 | 3,034,000 | 2,110,000 | 3,109,000 |
inventories | 2,292,000 | 2,461,000 | 2,675,000 | 2,519,000 | 2,508,000 | 2,436,000 | 2,372,000 | 2,158,000 | 2,608,000 | 2,526,000 | 2,698,000 | 1,808,000 | 1,274,000 | 1,179,000 | 1,062,000 | 908,000 |
prepaid expenses and other current assets | 605,000 | 634,000 | 616,000 | 470,000 | 413,000 | 678,000 | 649,000 | 1,133,000 | ||||||||
total current assets | 11,450,000 | 8,591,000 | 5,921,000 | 4,828,000 | 5,847,000 | 6,903,000 | 7,222,000 | 6,541,000 | 6,190,000 | 5,912,000 | 5,415,000 | 7,873,000 | 6,558,000 | 10,907,000 | 14,745,000 | 18,277,000 |
non-current assets: | ||||||||||||||||
property and equipment | 71,000 | 26,000 | 32,000 | 33,000 | 35,000 | 38,000 | 52,000 | 55,000 | 58,000 | 61,000 | 66,000 | 70,000 | 76,000 | 80,000 | 108,000 | 99,000 |
prepaid expenses and other | 467,000 | 463,000 | 534,000 | 538,000 | ||||||||||||
restricted bank deposits | 30,000 | 30,000 | 73,000 | 71,000 | 91,000 | 91,000 | 91,000 | 89,000 | 90,000 | 94,000 | 450,000 | 454,000 | 780,000 | 451,000 | ||
funds in respect of employee rights upon retirement | 239,000 | |||||||||||||||
operating lease right-of-use assets | 489,000 | |||||||||||||||
long-term deposits | 86,000 | 91,000 | 95,000 | 93,000 | 85,000 | 86,000 | 78,000 | 12,000 | ||||||||
total non-current assets | 1,382,000 | 939,000 | 1,011,000 | 1,154,000 | 1,260,000 | 1,322,000 | 1,528,000 | 1,816,000 | 4,326,000 | 5,311,000 | 5,743,000 | 5,701,000 | 5,443,000 | 3,912,000 | 1,580,000 | 1,282,000 |
total assets | 12,832,000 | 9,530,000 | 6,932,000 | 5,982,000 | 7,107,000 | 8,225,000 | 8,750,000 | 8,357,000 | 10,516,000 | 11,223,000 | 11,158,000 | 13,574,000 | 12,001,000 | 14,819,000 | 16,325,000 | 19,559,000 |
liabilities and shareholders’ equity | ||||||||||||||||
current liabilities: | ||||||||||||||||
credit line | 52,000 | 99,000 | 236,000 | 444,000 | 927,000 | 1,045,000 | ||||||||||
short-term loan | 405,000 | 305,000 | ||||||||||||||
trade payables | 487,000 | 817,000 | 724,000 | 1,020,000 | 903,000 | 982,000 | 893,000 | 1,421,000 | 2,258,000 | 1,769,000 | 2,192,000 | 1,918,000 | 1,400,000 | 1,781,000 | 853,000 | 1,659,000 |
deferred revenues | 186,000 | 223,000 | 230,000 | 325,000 | 281,000 | 246,000 | 277,000 | 206,000 | 305,000 | 389,000 | 386,000 | 493,000 | 574,000 | 484,000 | 625,000 | 669,000 |
employee and employee-related obligations | 661,000 | 624,000 | 697,000 | 858,000 | 738,000 | 688,000 | 760,000 | 782,000 | 855,000 | 737,000 | 732,000 | 772,000 | 795,000 | 793,000 | 695,000 | 780,000 |
accrued royalties | 650,000 | 612,000 | 660,000 | 731,000 | 520,000 | 673,000 | 1,033,000 | 1,119,000 | 1,087,000 | 1,062,000 | 924,000 | 996,000 | 931,000 | 900,000 | 1,006,000 | 968,000 |
current maturities of operating lease liabilities | 279,000 | 14,000 | 117,000 | 229,000 | 298,000 | 415,000 | 450,000 | 255,000 | 303,000 | |||||||
other current liabilities | 298,000 | 373,000 | 548,000 | 535,000 | 481,000 | 805,000 | 735,000 | 1,122,000 | 1,238,000 | |||||||
total current liabilities | 2,613,000 | 3,492,000 | 3,480,000 | 4,239,000 | 3,740,000 | 4,583,000 | 5,075,000 | 6,471,000 | 8,890,000 | 6,912,000 | 6,631,000 | 6,716,000 | 6,372,000 | 6,202,000 | 5,591,000 | 6,477,000 |
non-current liabilities: | ||||||||||||||||
long-term loan | 150,000 | 150,000 | 150,000 | 150,000 | ||||||||||||
operating lease liabilities | 206,000 | 62,000 | 443,000 | 465,000 | 498,000 | 129,000 | 141,000 | 361,000 | 445,000 | 480,000 | 505,000 | |||||
liability for employee rights upon retirement | 266,000 | |||||||||||||||
liability for commitment fee under eloc agreement | 625,000 | |||||||||||||||
pre-funded warrants liability | 626,000 | 750,000 | ||||||||||||||
other long-term liabilities | 15,000 | 6,000 | 9,000 | 17,000 | 116,000 | 180,000 | 16,000 | 27,000 | 23,000 | 23,000 | 25,000 | 32,000 | 33,000 | 48,000 | 52,000 | 61,000 |
total non-current liabilities | 1,904,000 | 1,241,000 | 487,000 | 491,000 | 561,000 | 657,000 | 614,000 | 749,000 | 3,135,000 | 3,923,000 | 3,585,000 | 5,469,000 | 4,214,000 | 5,352,000 | 5,171,000 | 5,325,000 |
total liabilities | 4,517,000 | 4,733,000 | 3,967,000 | 4,730,000 | 4,301,000 | 5,240,000 | 5,689,000 | 7,220,000 | 12,025,000 | 10,835,000 | 10,216,000 | 12,185,000 | 10,586,000 | 11,554,000 | 10,762,000 | 11,802,000 |
commitments and contingencies | ||||||||||||||||
shareholders’ equity: | ||||||||||||||||
common stock | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 |
non-voting common stock, 0.0001 par value: 2,803,774 shares authorized as of march 31, 2026, and december 31, 2025, none issued and outstanding as of march 31, 2026, and december 31, 2025. | ||||||||||||||||
additional paid-in capital | 63,093,000 | 57,119,000 | 52,767,000 | 48,846,000 | 48,499,000 | 46,818,000 | 45,095,000 | 42,687,000 | 40,005,000 | 39,916,000 | 38,594,000 | 38,174,000 | 36,711,000 | 36,666,000 | 36,482,000 | 36,469,000 |
accumulated deficit | -54,779,000 | -52,323,000 | -49,803,000 | -47,823,000 | -45,922,000 | -44,062,000 | -42,263,000 | -41,752,000 | -41,674,000 | -39,688,000 | -37,757,000 | -36,890,000 | -35,297,000 | -33,402,000 | -30,920,000 | -28,713,000 |
total shareholders’ equity | 8,315,000 | 4,797,000 | 2,965,000 | 1,024,000 | 2,578,000 | 2,757,000 | 2,833,000 | 936,000 | -1,668,000 | 229,000 | 838,000 | 1,285,000 | 1,415,000 | 3,265,000 | 5,563,000 | 7,757,000 |
total liabilities and shareholders’ equity | 12,832,000 | 9,530,000 | 6,932,000 | |||||||||||||
restricted cash equivalents | 305,000 | 304,000 | 302,000 | 302,000 | 300,000 | 300,000 | 1,392,000 | 1,565,000 | ||||||||
restricted bank deposit | 76,000 | |||||||||||||||
prepaid expenses | 459,000 | 492,000 | 592,000 | 592,000 | 592,000 | 592,000 | 592,000 | 492,000 | 492,000 | 492,000 | 245,000 | |||||
severance pay fund | 264,000 | 254,000 | 223,000 | 201,000 | 205,000 | 200,000 | 235,000 | 238,000 | 238,000 | 225,000 | 231,000 | 233,000 | 239,000 | 239,000 | 234,000 | |
operating lease right of use assets | 69,000 | 137,000 | 241,000 | 310,000 | 410,000 | 515,000 | 608,000 | 728,000 | 918,000 | 403,000 | 464,000 | 548,000 | 726,000 | 818,000 | 776,000 | |
credit lines | 479,000 | 774,000 | ||||||||||||||
short term loans | 350,000 | |||||||||||||||
long-term loans, net of current maturities | 150,000 | 150,000 | ||||||||||||||
operating lease liabilities, net of current maturities | 23,000 | 6,000 | ||||||||||||||
accrued severance | 292,000 | 281,000 | 250,000 | 226,000 | 229,000 | 226,000 | 263,000 | 269,000 | 270,000 | 256,000 | 264,000 | 271,000 | 278,000 | 276,000 | 279,000 | |
shareholders’ equity | ||||||||||||||||
non-voting common stock, 0.0001 par value: 2,803,774 shares authorized; no shares issued and outstanding as of december 31, 2025, and december 31, 2024. | ||||||||||||||||
prepaid expenses and other current assets, net of allowance for doubtful debts of 181 as of september 30, 2025, and december 31, 2024. | 791,000 | |||||||||||||||
non-voting common stock, 0.0001 par value: 2,803,774 shares authorized as of september 30, 2025, and december 31, 2024, none issued and outstanding as of september 30, 2025 and december 31, 2024. | ||||||||||||||||
prepaid expenses and other current assets, net of allowance for doubtful debts of 181 as of june 30, 2025, and december 31, 2024. | 600,000 | |||||||||||||||
liabilities, mezzanine equity and shareholders’ equity | ||||||||||||||||
mezzanine equity | ||||||||||||||||
redeemable convertible preferred stock - 0.0001 par value... | ||||||||||||||||
warrants to placement agent | 228,000 | 228,000 | 228,000 | 228,000 | 201,000 | 159,000 | 159,000 | 104,000 | 104,000 | |||||||
non-voting common stock, 0.0001 par value: 2,803,774 shares authorized as of june 30, 2025, and december 31, 2024, none issued and outstanding as of june 30, 2025 and december 31, 2024. | ||||||||||||||||
total liabilities, mezzanine equity and shareholders’ equity | 5,982,000 | 7,107,000 | 8,225,000 | 8,750,000 | 8,357,000 | 10,516,000 | 11,223,000 | |||||||||
prepaid expenses and other current assets, net of allowance for doubtful debts of 181 as of march 31, 2025, and december 31, 2024. | 681,000 | |||||||||||||||
short-term loans | 75,000 | |||||||||||||||
non-voting common stock, 0.0001 par value: 2,803,774 shares authorized as of march 31, 2025, and december 31, 2024, none issued and outstanding as of march 31, 2025 and december 31, 2024. | ||||||||||||||||
short-term deposits | 197,000 | 1,622,000 | ||||||||||||||
prepaid expenses and other current assets, net of allowance for doubtful debts of 181 and 144 as of december 31, 2024, and december 31, 2023, respectively | 584,000 | |||||||||||||||
restricted cash and cash equivalents | 790,000 | 2,542,000 | 3,330,000 | |||||||||||||
current maturities of long-term loans | 460,000 | 1,088,000 | 1,335,000 | 1,229,000 | 1,223,000 | 1,206,000 | 553,000 | 777,000 | 768,000 | |||||||
redeemable convertible preferred stock 0.0001 par value... | ||||||||||||||||
shareholders’ equity : | ||||||||||||||||
non-voting common stock, 0.0001 par value: 2,803,774 shares authorized; no shares issued and outstanding as of december 31, 2024, and december 31, 2023. | ||||||||||||||||
short term deposits | 197,000 | 254,000 | 809,000 | 810,000 | ||||||||||||
prepaid expenses and other current assets, net of allowance for doubtful debts of 181 and 144 as of september 30, 2024, and december 31, 2023, respectively | 481,000 | |||||||||||||||
long term deposits | 78,000 | 77,000 | 78,000 | 14,000 | 17,000 | 15,000 | 81,000 | 82,000 | ||||||||
long-term loan, net of current maturities | 150,000 | 263,000 | 2,521,000 | 3,154,000 | 3,175,000 | 3,456,000 | 3,712,000 | 4,625,000 | 4,374,000 | 4,564,000 | ||||||
shareholders' equity : | ||||||||||||||||
non-voting common stock, 0.0001 par value: 2,803,774 shares authorized as of september 30, 2024, and december 31, 2023, none issued and outstanding as of september 30, 2024, and december 31, 2023. | ||||||||||||||||
prepaid expenses and other current assets, net of allowance for doubtful debts of 181 and 144 as of june 30, 2024, and december 31, 2023, respectively | 491,000 | |||||||||||||||
other accrued liabilities | 995,000 | 1,115,000 | 905,000 | 1,003,000 | 1,097,000 | 1,128,000 | 1,054,000 | |||||||||
non-voting common stock, 0.0001 par value: 2,803,774 shares authorized as of june 30, 2024, and december 31, 2023, none issued and outstanding as of june 30, 2024, and december 31, 2023. | ||||||||||||||||
prepaid expenses and other current assets, net of allowance for doubtful debts of 181 and 144 as of march 31, 2024, and december 31, 2023, respectively | 249,000 | |||||||||||||||
short term loan | 574,000 | |||||||||||||||
advances from reseller | 1,143,000 | |||||||||||||||
non-voting common stock, 0.0001 par value: 2,803,774 shares authorized as of march 31, 2024, and december 31, 2023, none issued and outstanding as of march 31, 2024, and december 31, 2023. | ||||||||||||||||
prepaid expenses and other current assets, net of allowance for doubtful debts of 144 and 0 as of december 31, 2023, and december 31, 2022, respectively | 340,000 | |||||||||||||||
non-voting common stock, 0.0001 par value: 2,803,774 shares authorized; no shares issued and outstanding as of december 31, 2023, and december 31, 2022. | ||||||||||||||||
restricted cash | 2,407,000 | 2,214,000 | 1,190,000 | 336,000 | 650,000 | 770,000 | ||||||||||
liabilities and redeemable convertible preferred stock, warrants to placement agent and shareholders’ equity | ||||||||||||||||
warrants | 8,000 | 8,000 | 8,000 | 8,000 | 27,000 | 74,000 | ||||||||||
redeemable convertible preferred stock | ||||||||||||||||
non-voting common stock, 0.0001 par value: 2,803,774 shares authorized as of september 30, 2023, and december 31, 2022, none issued and outstanding as of september 30, 2023, and december 31, 2022. | ||||||||||||||||
total liabilities and redeemable convertible preferred stock warrants to placement agent and shareholders’ equity | 11,158,000 | |||||||||||||||
shareholders' equity | ||||||||||||||||
non-voting common stock, 0.0001 par value: 2,803,774 shares authorized as of june 30, 2023, and december 31, 2022, respectively; none issued and outstanding as of june 30, 2023, and december 31, 2022, respectively. | ||||||||||||||||
total liabilities and redeemable convertible preferred stock, warrants to placement agent and shareholders’ equity | 13,574,000 | |||||||||||||||
liabilities and redeemable convertible preferred stock and shareholders’ equity | ||||||||||||||||
non-voting common stock, 0.0001 par value: 2,803,774 shares authorized as of march 31, 2023 and december 31, 2022, respectively; no issued and outstanding as of march 31, 2023 and december 31, 2022, respectively. | ||||||||||||||||
total liabilities and redeemable convertible preferred stock and shareholders’ equity | 12,001,000 | 14,819,000 | 16,325,000 | 19,559,000 | ||||||||||||
convertible loan | ||||||||||||||||
0.0001 par value... | ||||||||||||||||
total redeemable convertible preferred stock | ||||||||||||||||
non-voting common stock, 0.0001 par value: 2,803,774 shares authorized as of december 31, 2022, and 2021, respectively; 0 and 1,783,773 shares issued and outstanding as of december 31, 2022 and 2021, respectively. | ||||||||||||||||
short term bank deposit | 68,000 | 71,000 | ||||||||||||||
convertible preferred stock | ||||||||||||||||
series a | ||||||||||||||||
0 and 4,986,039 shares issued and outstanding as of september 30, 2022, and december 31, 2021: aggregate liquidation preference of 5,091 as of december 31, 2021 - 2,858. | ||||||||||||||||
series b | ||||||||||||||||
0 and 2,745,004 shares issued and outstanding as of september 30, 2022, and december 31, 2021: aggregate liquidation preference of 4,271 as of december 31, 2021 - 2,727. | ||||||||||||||||
non-voting common stock, 0.0001 par value: 2,803,774 shares authorized as of september 30, 2022, and december 31, 2021, respectively; 0 and 1,783,773 shares issued and outstanding as of september 30, 2022, and december 31, 2021. | ||||||||||||||||
convertible series a preferred stock, 0.0001 par value... | ||||||||||||||||
convertible series b preferred stock, 0.0001 par value... | ||||||||||||||||
non-voting common stock, 0.0001 par value: 2,803,774 shares authorized as of june 30, 2022 and december 31, 2021, respectively; 0 and 1,783,773 shares issued and outstanding as of june 30, 2022, and december 31, 2021. |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | |||||||||||||||||
net loss for the period | -2,456,000 | -1,980,000 | -1,901,000 | -1,860,000 | -511,000 | -78,000 | -1,986,000 | -867,000 | -1,593,000 | -1,895,000 | -2,207,000 | -1,654,000 | -4,639,000 | ||||
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||
depreciation | 2,000 | 6,000 | 2,000 | 6,000 | 6,000 | 15,000 | 3,000 | 4,000 | 4,000 | 7,000 | 7,000 | 6,000 | 7,000 | -6,000 | 9,000 | 10,000 | 10,000 |
inventories write-downs | 38,000 | 48,000 | 87,000 | 5,000 | 35,000 | 90,000 | 7,000 | 41,000 | 26,000 | 37,000 | 43,000 | ||||||
financial expenses | 6,000 | 49,000 | 43,000 | 91,000 | 15,000 | ||||||||||||
share-based compensation | 70,000 | 1,000 | 179,000 | 50,000 | 79,000 | 78,000 | 80,000 | 90,000 | 89,000 | 79,000 | 106,000 | 97,000 | 95,000 | 179,000 | 13,000 | 14,000 | 14,000 |
liability for commitment fee under eloc agreement | 625,000 | ||||||||||||||||
change in fair value of pre-funded warrant liability | -124,000 | ||||||||||||||||
changes in operating assets and liabilities: | |||||||||||||||||
trade receivables | 128,000 | -433,000 | 319,000 | 291,000 | 382,000 | 212,000 | -1,138,000 | -157,000 | 131,000 | 51,000 | 1,044,000 | 714,000 | 561,000 | -924,000 | 999,000 | -1,775,000 | 813,000 |
net change in operating lease assets and liabilities | 29,000 | -16,000 | -11,000 | 5,000 | -22,000 | 14,000 | 11,000 | -5,000 | 6,000 | -6,000 | 1,000 | 8,000 | 16,000 | 18,000 | 20,000 | -72,000 | -10,000 |
inventories | 130,000 | 86,000 | -229,000 | -74,000 | -76,000 | -126,000 | -227,000 | 425,000 | -83,000 | 66,000 | -925,000 | -624,000 | -102,000 | -158,000 | -180,000 | -14,000 | -77,000 |
prepaid expenses and other current assets | 21,000 | 160,000 | -121,000 | 37,000 | -94,000 | -3,000 | 10,000 | -241,000 | 91,000 | 295,000 | -146,000 | -57,000 | 265,000 | -29,000 | 484,000 | -574,000 | -161,000 |
trade payables | -331,000 | 92,000 | -297,000 | 167,000 | -128,000 | 88,000 | -528,000 | -837,000 | 490,000 | -436,000 | 274,000 | 518,000 | -381,000 | 928,000 | -806,000 | 114,000 | -375,000 |
deferred revenues | -41,000 | -34,000 | -122,000 | 50,000 | 11,000 | -99,000 | 186,000 | -122,000 | -87,000 | 74,000 | -107,000 | -120,000 | -35,000 | -170,000 | -82,000 | 288,000 | -61,000 |
other current liabilities | -8,000 | -158,000 | -246,000 | 145,000 | -488,000 | -230,000 | -364,000 | -117,000 | 131,000 | 13,000 | -149,000 | 10,000 | -46,000 | 328,000 | -45,000 | 83,000 | 142,000 |
other long-term liabilities | 9,000 | -165,000 | -4,000 | 2,000 | -4,000 | -73,000 | 20,000 | -13,000 | -1,000 | -16,000 | -226,000 | 49,000 | 149,000 | -13,000 | |||
net cash from operating activities | -1,902,000 | -2,054,000 | -2,419,000 | -1,044,000 | -2,174,000 | -1,768,000 | -2,438,000 | -2,140,000 | -203,000 | -1,383,000 | -2,255,000 | -1,234,000 | -1,705,000 | -1,992,000 | -1,994,000 | -2,475,000 | -1,307,000 |
capital expenditures | -45,000 | -4,000 | 0 | 0 | 0 | 0 | 0 | 0 | -1,000 | -3,000 | -3,000 | 0 | -3,000 | 0 | -18,000 | -1,000 | -15,000 |
free cash flows | -1,947,000 | -2,058,000 | -2,419,000 | -1,044,000 | -2,174,000 | -1,768,000 | -2,438,000 | -2,140,000 | -204,000 | -1,386,000 | -2,258,000 | -1,234,000 | -1,708,000 | -1,992,000 | -2,012,000 | -2,476,000 | -1,322,000 |
cash flows from investing activities: | |||||||||||||||||
short-term deposits | -1,000 | ||||||||||||||||
long-term deposit | 5,000 | ||||||||||||||||
purchase of property and equipment | -45,000 | -4,000 | 0 | 0 | 0 | 0 | -1,000 | -3,000 | -3,000 | 0 | -3,000 | -18,000 | -1,000 | -15,000 | |||
net cash from investing activities | -41,000 | -4,000 | 0 | -5,000 | 1,000 | 0 | 0 | 198,000 | -1,000 | 2,391,000 | 753,000 | 1,011,000 | -334,000 | -3,932,000 | -15,000 | 190,000 | -277,000 |
cash flows from financing activities: | |||||||||||||||||
proceeds from issuance common stock – atm | 7,311,000 | ||||||||||||||||
offering cost from issuance of common stock – atm | -368,000 | ||||||||||||||||
credit lines with bank | -427,000 | -136,000 | -215,000 | -324,000 | |||||||||||||
proceeds from short-term loans | |||||||||||||||||
repurchase of common stock for retirement | -1,039,000 | ||||||||||||||||
repayment of short-term loan | -350,000 | ||||||||||||||||
net cash from financing activities | 5,127,000 | 4,676,000 | 3,478,000 | 312,000 | 1,331,000 | 1,469,000 | 1,621,000 | 167,000 | -164,000 | 1,175,000 | -194,000 | 3,022,000 | -242,000 | -742,000 | -193,000 | 14,503,000 | 1,718,000 |
effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents | 4,000 | 8,000 | -1,000 | -4,000 | |||||||||||||
increase in cash, cash equivalents and restricted cash and cash equivalents | 3,184,000 | ||||||||||||||||
balance of cash, cash equivalents and restricted cash and cash equivalents at beginning of the period | 4,362,000 | 0 | 0 | 2,267,000 | 0 | ||||||||||||
balance of cash, cash equivalents and restricted cash and cash equivalents at end of the period | 7,546,000 | 1,063,000 | -729,000 | 1,424,000 | -821,000 | ||||||||||||
net loss for the year | |||||||||||||||||
changes in fair value related to warrants to lenders and investors | 0 | -1,262,000 | |||||||||||||||
inventory write-downs | |||||||||||||||||
issuance costs of eloc agreement | |||||||||||||||||
short term deposit | |||||||||||||||||
proceeds from exercise of options | 0 | 0 | 0 | ||||||||||||||
proceeds from issuance common stock - at the market offering | 0 | ||||||||||||||||
offering cost from issuance of common stock - at the market offering | 0 | ||||||||||||||||
proceeds from warrant inducement agreement | 0 | 0 | 2,249,000 | ||||||||||||||
underwriting commissions and other offering costs | 0 | ||||||||||||||||
proceeds from exercise of pre funded warrants into common stock | |||||||||||||||||
proceeds from issuance of common stocks and pre funded warrants – september pipe | 0 | ||||||||||||||||
offering cost from issuance of common stocks and pre funded warrants – september pipe | 0 | ||||||||||||||||
proceeds from issuance of common stocks and warrants – july pipe | 0 | ||||||||||||||||
offering cost from issuance of common stock and warrants – july pipe | 0 | ||||||||||||||||
proceeds from issuance of common stocks and warrants – december follow on | |||||||||||||||||
offering cost from issuance of common stock and warrants – december follow on | |||||||||||||||||
proceeds from issuance common stock – eloc issuance | |||||||||||||||||
credit line | |||||||||||||||||
proceeds from short term loans | 45,000 | 400,000 | 230,000 | 75,000 | |||||||||||||
repayment of short term loans | -100,000 | ||||||||||||||||
early repayment of long-term loan | 0 | -555,000 | -2,938,000 | -545,000 | |||||||||||||
repayment of long-term loan | 0 | 0 | 0 | -193,000 | -186,000 | -194,000 | -197,000 | -192,000 | -732,000 | -193,000 | -187,000 | -129,000 | |||||
effect of exchange rate changes on cash and cash equivalents and restricted cash | -2,000 | 243,000 | -2,000 | -5,000 | -5,000 | -118,000 | |||||||||||
increase in cash, cash equivalents and restricted cash | 2,426,000 | -1,698,000 | 2,789,000 | -2,281,000 | -6,666,000 | -2,202,000 | 12,218,000 | 134,000 | |||||||||
cash, cash equivalents and restricted cash at beginning of year | |||||||||||||||||
cash, cash equivalents and restricted cash at end of year | |||||||||||||||||
reconciliation of cash, cash equivalents and restricted cash: | |||||||||||||||||
cash and cash equivalents | |||||||||||||||||
restricted cash equivalents, current | |||||||||||||||||
total cash, cash equivalents and restricted cash | |||||||||||||||||
short term deposits | 0 | 0 | 1,000 | 0 | 553,000 | -2,000 | 812,000 | ||||||||||
proceeds from issuance of options | |||||||||||||||||
early repayment of long term loan | |||||||||||||||||
decrease in cash, cash equivalents and restricted cash and cash equivalents | 1,063,000 | -729,000 | -843,000 | ||||||||||||||
proceeds from issuance common stock | 350,000 | 1,750,000 | |||||||||||||||
offering cost from issuance of common stock | -53,000 | -170,000 | |||||||||||||||
financial income from short and long term bank deposit | |||||||||||||||||
advances from reseller | 1,143,000 | ||||||||||||||||
warrant issuance costs | 0 | 0 | |||||||||||||||
exchange rate differences | 125,000 | 21,000 | -9,000 | -70,000 | -95,000 | -139,000 | -96,000 | -130,000 | 156,000 | -59,000 | -542,000 | -197,000 | |||||
interest expenses | -35,000 | -15,000 | 20,000 | -61,000 | |||||||||||||
long term prepaid expenses | |||||||||||||||||
long- term deposit | |||||||||||||||||
proceeds from restricted long term bank deposits | |||||||||||||||||
deposit of restricted long-term bank deposits | |||||||||||||||||
restricted short term bank deposit | |||||||||||||||||
proceeds from credit line with bank | |||||||||||||||||
proceeds from issuance of common stocks | |||||||||||||||||
offering cost from issuance of common stocks | |||||||||||||||||
proceeds from issuance of common stocks, pre-funded warrants and warrants | 1,500,000 | ||||||||||||||||
repurchase of common stock | 0 | 0 | 0 | -50,000 | |||||||||||||
restricted cash and cash equivalents, non-current | |||||||||||||||||
long term restricted bank deposits | 200,000 | 686,000 | -811,000 | ||||||||||||||
long term deposits | 3,000 | -2,000 | -3,000 | ||||||||||||||
proceeds from issuance common stock, net of offering costs | |||||||||||||||||
proceeds from credit lines with bank | -118,000 | 471,000 | 574,000 | ||||||||||||||
underwriting discounts and commissions and other offering costs | -271,000 | -129,000 | 0 | 0 | 0 | ||||||||||||
financial income from long term bank deposit | 5,000 | -1,000 | -13,000 | -51,000 | |||||||||||||
short term restricted bank deposits | -329,000 | ||||||||||||||||
proceeds from common stocks, pre-funded warrants and warrants | |||||||||||||||||
increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents | |||||||||||||||||
decrease in cash, cash equivalents and restricted cash | -370,000 | ||||||||||||||||
balance of cash, cash equivalents and restricted cash at beginning of the period | 5,515,000 | 0 | 0 | 4,279,000 | 0 | ||||||||||||
balance of cash, cash equivalents and restricted cash at end of the period | 5,145,000 | -1,698,000 | 2,789,000 | 1,998,000 | -2,202,000 | 12,218,000 | 929,000 | ||||||||||
changes in fair value related to convertible loan | 0 | 0 | 682,000 | 966,000 | |||||||||||||
changes in fair value related to convertible note | 0 | 0 | 678,000 | 1,075,000 | |||||||||||||
other long-term assets | |||||||||||||||||
proceeds from initial public offering | |||||||||||||||||
proceeds from initial public offering and private placement | -15,000 | 0 | |||||||||||||||
changes in fair value related to warrants to lenders | -19,000 | -47,000 | 57,000 | 1,058,000 | |||||||||||||
proceeds from private placement | |||||||||||||||||
treasury shares | |||||||||||||||||
restricted long term bank deposit | |||||||||||||||||
restricted bank deposit | |||||||||||||||||
proceeds from long-term debt, net of issuance costs | |||||||||||||||||
restricted cash, non-current | |||||||||||||||||
other accrued liabilities | 73,000 | 48,000 | 105,000 | ||||||||||||||
short term bank deposit | 3,000 | 191,000 | -262,000 | ||||||||||||||
other non-current asset | |||||||||||||||||
effect of exchange rate changes on cash and cash equivalents | -542,000 | -197,000 | |||||||||||||||
proceeds from convertible note | 1,847,000 | ||||||||||||||||
balance of cash, cash equivalents and restricted cash at beginning of year | 795,000 |