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LEASES
 12 Months Ended
Dec. 31, 2024
Presentation of leases for lessee [Abstract]  
LEASES
NOTE 8: - LEASES
 
The Company has entered into various lease agreements with respect to the following items:
 
  1.
Office and Laboratory spaces:
 
In December 2018, the Company entered into a lease agreement for office space and a laboratory facilities in Rehovot, Israel for a period of 6 years (which included a three-years extension through December 2024). In December 2024 the lease agreement was extended for an additional period of 6 years through December 2030.
 
In August 2017, the company entered into a lease agreement for office space and greenhouses in Naan, Israel for a period of 10 years (which included a three-years extension through July 2028).
 
  2.
Vehicles:
 
The company leases vehicles for the use of certain of its employees in Israel. The lease terms are typically for three-year periods.
 
The Company does not assume renewals in determination of the lease term unless the renewals are deemed to be reasonably certain at lease commencement.
 
  a.
Information on leases in which the Company is a lessee:
 
   
Year ended December 31
  
   
2024
    
2023
  
             
Interest expense on lease liabilities
  
$
67
    
$
115
  
Exchange rate differences
    
7
      
(57
)
Adjustments for indexation
    
19
      
39
  
Depreciation expenses on right-of-use assets
    
797
      
805
  
Expense due to removal of lease liabilities and right-of-use assets
    
3
      
-
  
 
  b.
Lease extension and cancelation options:
 
The Company has leases that include both extension and cancelation options. These are used to maximize operational flexibility in terms of managing the assets used in the Company's operations. The Company exercises significant judgements in deciding whether it is reasonably certain that the extension and cancelation options will be exercised.
 
In leaseholds for periods of 5-7 years, the Company recognizes any extension options exercised as per lease agreements in the lease period. In these leases, the Company usually exercises the lease extension option to avoid critical impairment to its operating activities in the event that an alternative asset is not available immediately upon termination of the noncancelable lease period.
 
In leases of motor vehicles, the Company does not include in the lease term the exercise of extension options since the Company does not ordinarily exercise options that extend the lease period beyond 3 years.
 
Moreover, the lease period subject to the termination option is accounted for as part of the lease period when it is reasonably certain that the termination option will not be exercised.
 
  c.
Disclosures of right-of-use assets:
 
   
Leasehold
    
Motor vehicles
    
Total
  
Cost:
                  
                   
Balance as of January 1, 2024
  
$
3,553
    
$
874
    
$
4,427
  
                         
Additions during the year:
                        
                         
Additions to right-of-use assets for new leases in the period
    
1,974
      
333
      
2,307
  
                         
Adjustments for indexation
    
12
      
7
      
19
  
                         
Disposals during the year:
                        
                         
Disposals of right-of-use assets for leases terminated in the period
    
(2,443
)
    
(322
)
    
(2,765
)
                         
Balance as of December 31, 2024
    
3,096
      
892
      
3,988
  
                         
Accumulated depreciation:
                        
                         
Balance as of January 1, 2024
    
2,868
      
579
      
3,447
  
                         
Additions during the year:
                        
                         
Depreciation
    
575
      
222
      
797
  
                         
Disposals during the year:
                        
                         
Disposals of right-of-use assets
    
(2,443
)
    
(260
)
    
(2,703
)
                         
Balance as of December 31, 2024
    
1,000
      
541
      
1,541
  
                         
Depreciated cost on December 31, 2024
  
$
2,096
    
$
351
    
$
2,447
  

 

   
Leasehold
    
Motor vehicles
    
Total
  
Cost:
                  
                   
Balance as of January 1, 2023
  
$
3,522
    
$
747
    
$
4,269
  
                         
Additions during the year:
                        
                         
Additions to right-of-use assets for new leases in the period
    
-
      
194
      
194
  
                         
Adjustments for indexation
    
31
      
8
      
39
  
                         
Disposals during the year:
                        
                         
Disposals of right-of-use assets for leases terminated in the period
    
-
      
(75
)
    
(75
)
                         
Balance as of December 31, 2023
    
3,553
      
874
      
4,427
  
                         
Accumulated depreciation:
                        
                         
Balance as of January 1, 2023
    
2,276
      
425
      
2,701
  
                         
Additions during the year:
                        
                         
Depreciation
    
592
      
213
      
805
  
                         
Disposals during the year:
                        
                         
Disposals of right-of-use assets
    
-
      
(59
)
    
(59
)
                         
Balance as of December 31, 2023
    
2,868
      
579
      
3,447
  
                         
Depreciated cost on December 31, 2023
  
$
685
    
$
295
    
$
980
  
 
  d.
Disclosures of lease liability:
 
   
Leasehold
    
Motor vehicles
    
Total
  
                   
Balance as of January 1, 2024
  
$
868
    
$
270
    
$
1,138
  
                         
Lease payments
    
(725
)
    
(243
)
    
(968
)
                         
Lease deposits
    
-
      
(2
)
    
(2
)
                         
Interest expense
    
40
      
27
      
67
  
                         
Exchange rate differences
    
(7
)
    
14
      
7
  
                         
Additions to lease liability for new leases in the period
    
1,974
      
333
      
2,307
  
                         
Reduction of lease liability for leases terminated in the period
    
-
      
(65
)
    
(65
)
                         
Adjustments for indexation
    
12
      
7
      
19
  
                         
Balance as of December 31, 2024
  
$
2,162
    
$
341
    
$
2,503
  
 
The weighted average incremental borrowing rate used to discount future lease payments in the calculation of the lease liabilities was 8.35%. During 2024, the total cash outflow for leases was approximately $968.
 
   
Leasehold
    
Motor vehicles
    
Total
  
                   
Balance as of January 1, 2023
  
$
1,536
    
$
280
    
$
1,816
  
                         
Lease payments
    
(744
)
    
(207
)
    
(951
)
                         
Lease deposits
    
-
      
(2
)
    
(2
)
                         
Interest expense
    
90
      
25
      
115
  
                         
Exchange rate differences
    
(45
)
    
(12
)
    
(57
)
                         
Additions to lease liability for new leases in the period
    
-
      
194
      
194
  
                         
Reduction of lease liability for leases terminated in the period
    
-
      
(16
)
    
(16
)
                         
Adjustments for indexation
    
31
      
8
      
39
  
                         
Balance as of December 31, 2023
  
$
868
    
$
270
    
$
1,138
  
 
The weighted average incremental borrowing rate used to discount future lease payments in the calculation of the lease liabilities was 9.22%. During 2024, the total cash outflow for leases was approximately $951.
 
The Company leases facilities for its offices and research and development activities, as well as motor vehicles under leases. As of December 31, 2024, the future minimum lease payments under non-cancelable leases for the years ending December 31, are as follows (see also Note 13b):
 
   
Leasehold
    
Motor vehicles
    
Total
  
                   
2025
  
$
464
    
$
215
    
$
679
  
2026
    
425
      
141
      
566
  
2027
    
396
      
53
      
449
  
2028
    
394
      
-
      
394
  
2029
    
374
      
-
      
374
  
2030
    
338
      
-
      
338
  
                         
Total lease payments
  
$
2,391
    
$
409
    
$
2,800
  
Less: imputed interest
    
(229
)
    
(68
)
    
(297
)
Present value of lease liabilities
  
$
2,162
    
$
341
    
$
2,503