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TAXES ON INCOME (Tables)
12 Months Ended
Dec. 31, 2023
TAXES ON INCOME  
Schedule of Components of Income Tax Expense (Benefit)

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​

​

​

​

​

​

​

​

    

Year Ended

(U.S. dollars in thousands)

​

December 31, 2022

​

December 31, 2023

Current taxes on income

​

$

530

​

$

3,346

Deferred taxes on income

​

 

​

​

​

(3,092)

Total taxes on income

​

$

530

​

$

254

Schedule of Deferred Tax Assets

The components of the Company’s net deferred tax assets at December 31, 2022 and 2023 were as follows:

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​

​

​

​

​

​

​

​

December 31, 

(U.S. dollars in thousands)

    

2022

    

2023

In respect of:

 

​

  

 

​

  

Research and development expenses

​

$

6,568

​

$

4,625

Other timing differences

​

 

(2,115)

​

 

(1,387)

Net operating loss carry forwards

​

 

54,097

​

 

51,472

Valuation allowance

​

 

(58,550)

​

 

(51,618)

​

​

 

-

​

 

3,092

Schedule of Reconciliation of Tax Expense

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​

​

​

​

​

​

​

​

​

​

​

​

Year Ended December 31, 

(U.S. dollars in thousands)

    

2021

    

2022

    

2023

Tax computed at the statutory U.S. income tax rate

    

$

(5,792)

    

$

(3,023)

    

$

1,799

Differences in tax rate

​

​

-

​

​

1,512

​

​

(899)

Statutorily non-deductible expenses

​

​

-

​

​

2,979

​

​

1,684

Change in Valuation allowances

​

​

5,792

​

​

(2,970)

​

​

(6,932)

Utilization of carry-forward losses and other temporary items without deferred taxes recognition

​

​

-

​

​

2,032

​

​

3,602

Withholding tax

​

​

-

​

​

-

​

​

1,000

​

​

$

-

​

$

530

​

$

254

Schedule of Company's Valuation Allowance

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​

​

​

​

(U.S. dollars in thousands)

​

​

​

Balance at December 31, 2021

​

$

(61,520)

Additions to valuation allowance

​

​

—

Reductions to valuation allowance

​

​

2,970

Balance at December 31, 2022

​

$

(58,550)

​

​

​

​

Balance at December 31, 2022

​

$

(58,550)

Additions to valuation allowance

​

​

(728)

Reductions to valuation allowance

​

​

7,660

Balance at December 31, 2023

​

$

(51,618)

Schedule of Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits

​

​

​

​

​

(U.S. dollars in thousands)

​

​

​

Balance at December 31, 2021

​

$

-

Increase for tax position related to current year

​

​

530

Balance at December 31, 2022

​

$

530

​

​

​

​

Balance at December 31, 2022

​

$

530

Increase for tax position related to current year

​

​

275

Balance at December 31, 2023

​

$

805

Schedule of Open Tax Years

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​

​

Jurisdiction:

    

Years:

Israel

 

2019-2023

United States (*)

 

2020-2023

​

(*)

Includes federal, state and local (or similar provincial jurisdictions) tax positions.