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Share Options (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2023
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]    
Schedule of outstanding share options separated ranges of exercise prices

The following table presents the Company’s share option activity for employees and members of the Board of Directors of the Company under the Plan for the periods of six months ended June 30, 2023 and 2022:

 

Number of
Share
Options

 

Weighted
Average
Exercise
Price
$

 

Weighted
average
remaining
contractual
life
(years)

 

Intrinsic
value
$

Outstanding as of December 31, 2022

 

1,570,991

 

 

1.78

 

4.97

 

2,435

Granted

 

88,800

 

 

3.67

 

9.70

 

Exercised

 

(18,448

)

 

 

 

Forfeited or expired

 

(72,357

)

 

1.96

 

 

Outstanding as of June 30, 2023 (unaudited)

 

1,568,986

 

 

1.88

 

4.85

 

1,475

Exercisable as of June 30, 2023 (unaudited)

 

1,096,887

 

 

1.75

 

3.09

 

1,174

 

Number of
Share
Options

 

Weighted
Average
Exercise
Price
$

 

Weighted
average
remaining
contractual
life
(years)

 

Intrinsic
value
$

Outstanding as of December 31, 2021

 

1,367,168

 

 

1.75

 

5.72

 

9,365

Forfeited or expired

 

(15,360

)

 

 

 

Outstanding as of June 30, 2022 (unaudited)

 

1,351,808

 

 

1.75

 

5.29

 

9,260

Exercisable as of June 30, 2022 (unaudited)

 

1,000,864

 

 

1.65

 

4.18

 

6,956

 

Number of
Share
Options

 

Weighted
Average
Exercise
Price
$

 

Weighted
average
remaining
contractual
life
(years)

 

Intrinsic
value
$

Outstanding as of December 31, 2019

 

1,291,810

 

 

1.65

 

5.94

 

194

Granted

 

353,960

 

 

1.80

 

9.35

   

Exercised

 

(9,800

)

 

1.15

 

   

Forfeited or expired

 

(381,970

)

 

1.75

 

 

 

Outstanding as of December 31, 2020

 

1,254,000

 

 

1.70

 

6.12

 

125

Exercisable as of December 31, 2020

 

839,665

 

 

1.50

 

4.73

 

252

 

Number of
Share
Options

 

Weighted
Average
Exercise
Price
$

 

Weighted
average
remaining
contractual
life
(years)

 

Intrinsic
value
$

Outstanding as of December 31, 2020

 

1,254,000

 

 

1.70

 

6.12

 

125

Granted

 

214,688

 

 

2.05

 

9.64

   

Forfeited or expired

 

(101,520

)

 

1.80

 

 

 

Outstanding as of December 31, 2021

 

1,367,168

 

 

1.75

 

5.72

 

4,860

Exercisable as of December 31, 2021

 

927,988

 

 

1.60

 

4.25

 

3,429

 

Number of
Share
Options

 

Weighted
Average
Exercise
Price
$

 

Weighted
average
remaining
contractual
life
(years)

 

Intrinsic
value
$

Outstanding as of December 31, 2021

 

1,367,168

 

 

1.75

 

5.72

 

4,860

Granted

 

286,875

 

 

1.83

       

Forfeited or expired

 

(83,052

)

 

1.45

 

 

 

Outstanding as of December 31, 2022

 

1,570,991

 

 

1.78

 

4.97

 

2,435

Exercisable as of December 31, 2022

 

1,048,297

 

 

1.70

 

3.2

 

1,677

Schedule of outstanding share options separated ranges of exercise prices

The outstanding share options as of June 30, 2023 have been separated into ranges of exercise prices, as follows:

Exercise price

 

Share
options
outstanding
as of
June 30,
2023

 

Weighted
average
remaining
contractual
term
(years)

 

Share
options
exercisable
as of
June 30,
2023

 

Weighted
average
remaining
contractual
term
(years)

   

Unaudited

                 

 

152,640

 

0.54

 

152,640

 

0.54

1.14

 

219,840

 

0.91

 

219,840

 

0.91

1.67

 

43,200

 

1.71

 

43,200

 

1.71

1.74

 

12,800

 

9.81

 

 

1.83

 

907,579

 

6.41

 

532,008

 

4.71

3.20

 

28,127

 

7.30

 

14,063

 

6.44

3.79

 

60,000

 

1.09

 

60,000

 

1.09

4.00

 

76,000

 

9.68

 

6,336

 

9.68

4.17

 

28,800

 

2.54

 

28,800

 

2.54

5.12

 

40,000

 

6.04

 

40,000

 

6.04

   

1,568,986

     

1,096,887

   

Exercise price

 

Share
options
outstanding
as of
December 31,
2022

 

Weighted
average
remaining
contractual
term
(years)

 

Share
options
exercisable
as of
December 31,
2022

 

Weighted
average
remaining
contractual
term
(years)

$

     

$

     

$

0.00

 

152,640

 

2.42

 

152,640

 

1.03

1.14

 

228,480

 

1.39

 

228,480

 

1.39

1.67

 

43,200

 

2.21

 

43,200

 

2.21

1.83

 

982,870

 

6.75

 

489,239

 

4.70

3.2

 

35,001

 

6.45

 

10,938

 

6.45

3.79

 

60,000

 

1.59

 

60,000

 

1.59

4.17

 

28,800

 

3.03

 

28,800

 

3.03

5.12

 

40,000

 

6.54

 

35,000

 

6.54

   

1,570,991

     

1,048,297

   
Schedule of assumptions used to estimate the fair values of the share options granted

The following table presents the assumptions used to estimate the fair values of the share options granted in the reported periods presented:

 

Six-month period ended
June 30,

   

2023

 

2022

Volatility (%)

 

61.4%

 

Risk-free interest rate (%)

 

3.7% – 4.3%

 

Dividend yield (%)

 

 

Expected life (years)

 

6.25

 

Exercise price ($)

 

1.74 – 4.00

 

Share price ($)

 

1.74 – 3.73

 

 
Schedule of total compensation cost related to all of the company’s equity-based awards recognized

The total compensation cost related to all of the Company’s equity-based awards recognized during the periods of six months ended June 30, 2023 and 2022 was comprised as follows:

 

Six-month period ended
June 30,

   

2023

 

2022

   

Unaudited

Research and development

 

$

122

 

$

71

Sales and marketing

 

 

14

 

 

27

General and administrative

 

 

40

 

 

14

   

$

176

 

$

112

 
Schedule of assumptions used to estimate the fair values of the share options granted  
 

Year ended December 31

   

2022

 

2021

 

2020

Volatility (%)

 

61.49%

 

64.75%

 

61.89% – 61.91%

Risk-free interest rate (%)

 

3.64% – 3.85%

 

0.09%

 

0.03% – 0.04%

Dividend yield (%)

 

 

 

Expected life (years)

 

6.25

 

6.25

 

6.25

Exercise price ($)

 

1.83

 

1.80 – 3.20

 

1.80

Share price ($)

 

3.30

 

3.20

 

1.80

Schedule of company’s equity-based awards recognized  
 

Year ended December 31

   

2022

 

2021

 

2020

Research and development

 

$

144

 

$

94

 

$

60

Sales and marketing

 

 

49

 

 

45

 

 

48

General and administrative

 

 

29

 

 

18

 

 

12

   

$

222

 

$

157

 

$

120