XML 41 R33.htm IDEA: XBRL DOCUMENT
v3.25.1

Segment and Revenue by Geography and By Major Customer (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Segment and Revenue by Geography and by Major Customer [Abstract] |
Schedule of Segment Operating Profit (Loss) | Segment operating profit (loss) is used to monitor budget versus actual results, in order to assess the performance of the segment.
|  | Three months ended on March 31, 2025 |
|  | CIB |  |  | Automotive |  |  | Consolidated |
|  | U.S. dollars in thousands |
Revenues |  |  | 11,753 |  |  |  | 5,075 |  |  |  | 16,828 |
Cost of revenues |  |  | (3,629 | ) |  |  | (2,617 | ) |  |  | (6,246 | )
Gross profit |  |  | 8,124 |  |  |  | 2,458 |  |  |  | 10,582 |
Research and development expenses |  |  | 6,653 |  |  |  | 3,937 |  |  |  | 10,590 |
Sales and marketing expenses |  |  | 2,791 |  |  |  | 2,816 |  |  |  | 5,607 |
General and administrative expenses |  |  | 2,029 |  |  |  | 1,638 |  |  |  | 3,667 |
Change in earnout liability |  |  | 174 |  |  |  | - |  |  |  | 174 |
Segment operating loss |  |  | (3,523 | ) |  |  | (5,933 | ) |  |  | (9,456 | )
Change in fair value of Forfeiture Shares |  |  |  |  |  |  |  |  |  |  | - |
Financial income, net |  |  |  |  |  |  |  |  |  |  | 1,238 |
Loss before taxes on income |  |  |  |  |  |  |  |  |  |  | (8,218 | )
Depreciation and Amortization expenses |  |  | 537 |  |  |  | 233 |  |  |  | 770 |
Stock-based compensation |  |  | 1,875 |  |  |  | 2,291 |  |  |  | 4,166 |
|  | Three months ended on March 31, 2024 |
|  | CIB |  |  | Automotive |  |  | Consolidated |
|  | U.S. dollars in thousands |
Revenues |  |  | 7,177 |  |  |  | 4,382 |  |  |  | 11,559 |
Cost of revenues |  |  | (1,638 | ) |  |  | (3,106 | ) |  |  | (4,744 | )
Gross profit |  |  | 5,539 |  |  |  | 1,276 |  |  |  | 6,815 |
Research and development expenses |  |  | 5,857 |  |  |  | 4,288 |  |  |  | 10,145 |
Sales and marketing expenses |  |  | 1,873 |  |  |  | 2,515 |  |  |  | 4,388 |
General and administrative expenses |  |  | 1,839 |  |  |  | 1,732 |  |  |  | 4,858 |
Segment operating loss |  |  | (4,030 | ) |  |  | (7,259 | ) |  |  | (11,289 | )
Change in fair value of Forfeiture Shares |  |  |  |  |  |  |  |  |  |  | 25 |
Financial income, net |  |  |  |  |  |  |  |  |  |  | 1,234 |
Loss before taxes on income |  |  |  |  |  |  |  |  |  |  | (10,030 | )
Depreciation and Amortization expenses |  |  | 228 |  |  |  | 228 |  |  |  | 456 |
Stock-based compensation |  |  | 1,721 |  |  |  | 2,043 |  |  |  | 3,764 |
Schedule of Revenue by Geography, Based on the Customers | The following table shows revenue by geography, based on the customers’ “bill to” location:
|  | Three months ended March 31 |
|  | 2025 |  |  | 2024 |
|  | U.S. dollars in thousands |
Israel |  |  | 64 |  |  |  | 253 |
Hungary |  |  | 2,880 |  |  |  | 2,071 |
United States |  |  | 2,686 |  |  |  | 1,450 |
Portugal |  |  | 2,237 |  |  |  | 1,867 |
China |  |  | 2,221 |  |  |  | 1,519 |
Hong Kong |  |  | 1,815 |  |  |  | 733 |
Switzerland |  |  | 1,476 |  |  |  | 21 |
Japan |  |  | 1,329 |  |  |  | 1,198 |
Other |  |  | 2,120 |  |  |  | 2,447 |
|  |  | 16,828 |  |  |  | 11,559 |
Schedule of Supplemental Data - Major Customers | The following tables summarize the significant customers’ (including distributors) accounts receivable and revenues as a percentage of total accounts receivable and total revenues, respectively:
|  | March 31, 2025 |  |  | December 31, 2024 |
Accounts Receivable |  | % of Account Receivable |
Customer A |  |  | 18 | % |  |  | 14 | %
Customer B |  |  | 17 | % |  |  | 14 | %
Customer C |  |  | 16 | % |  |  | 18 | %
Customer D |  |  | 11 | % |  |  | 16 | %
|  | Three months ended March 31 |
|  | 2025 |  |  | 2024 |
|  | % of Revenues |
Revenues |  |  |  |  |  |
Customer A |  |  | 13 | % |  |  | 16 | %
Customer B |  |  | 11 | % |  |  | 2 | %
Customer E |  |  | 4 | % |  |  | 15 | %
Customer F |  |  | 5 | % |  |  | 11 | %
Customer G |  |  | 8 | % |  |  | 10 | %
Schedule of Long-Lived Assets by Geography | Long-lived assets by Geography:
|  | March 31, 2025 |  |  | December 31, 2024 |
|  | U.S. dollars in thousands |
Domestic (Israel) |  |  | 9,085 |  |  |  | 9,482 |
China |  |  | 228 |  |  |  | 314 |
USA |  |  | 873 |  |  |  | 931 |
Other |  |  | 207 |  |  |  | 286 |
|  |  | 10,393 |  |  |  | 11,013 |

X
- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the nature of a concentration, a benchmark to which it is compared, and the percentage that the risk is to the benchmark. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 275 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482861/275-10-50-18 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 275 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482861/275-10-50-20 + Details
Name: | us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration