Shareholders' Equity (Tables)
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9 Months Ended |
12 Months Ended |
Sep. 30, 2023 |
Dec. 31, 2022 |
| Shareholders' Equity [Abstract] |
|
|
| Schedule of Composed Of Common Stock and Non-Voting Common Stock |
|
The Company’s share capital as of December 31, 2022, and 2021, is composed of common stock and Non-voting common stock, of $0.0001 par value, as follows:
|
|
|
December 31, 2022
|
| |
|
Authorized
|
|
Issued and
outstanding
|
| |
|
Number of shares
|
|
Common stock
|
|
30,000,000 |
|
17,379,861 |
|
Non-voting Common stock
|
|
2,803,774 |
|
—
|
|
|
|
December 31, 2021
|
| |
|
Authorized
|
|
Issued and
outstanding
|
| |
|
Number of shares
|
|
Common stock
|
|
11,009,315 |
|
2,050,404 |
|
Non-voting Common stock
|
|
2,803,774 |
|
1,783,773 |
|
| Schedule of Awards Granted |
|
During the year ended December 31, 2022, the following awards were granted:
|
Award Type (2015 Plan)
|
|
Number of Awards
|
|
Vesting Conditions
|
|
Expiration Date
|
|
Options
|
|
167,779 |
|
Over 4 years from grant date-25% every year |
|
10th anniversary of Grant Date |
|
RSU
|
|
592,000 |
|
Over 3 years from grant date |
|
|
|
| Schedule of Share Options, Granted to Employees, Directors, Under Option Plans |
A summary of the Company’s share options, granted to employees, directors, under option plans is as follows:
|
|
|
Number of
options
|
|
Weighted
Average
Exercise
Price
|
|
Weighted
Average
Remaining
Contractual
Life
|
|
Outstanding – January 1, 2023 (*)
|
|
96,458 |
|
|
$
|
4.89 |
|
5.34 |
|
Granted
|
|
400 |
|
|
|
1.48 |
|
|
|
Exercised
|
|
(2,489 |
)
|
|
$
|
0.90 |
|
|
|
Expired and forfeited
|
|
(3,992 |
)
|
|
$
|
28.16 |
|
|
| |
|
|
|
|
|
|
|
|
|
Outstanding – September 30, 2023
|
|
90,377 |
|
|
$
|
3.94 |
|
4.44 |
|
Exercisable – September 30, 2023
|
|
77,759 |
|
|
$
|
2.23 |
|
3.85 |
2) Restricted Stock Units (*):
|
A summary of the Company’s share option activity under option plans is as follows:
|
|
|
Number of
Options
|
|
Weighted-
Average
Exercise Price
|
|
Weighted
Average
Remaining
Contractual
Life
|
|
Outstanding – January 1, 2022
|
|
890,493 |
|
|
$
|
0.1518 |
|
5.43 |
|
Granted
|
|
167,779 |
|
|
$
|
2.1964 |
|
|
|
Exercised
|
|
(77,749 |
)
|
|
$
|
0.0812 |
|
|
|
Expired and forfeited
|
|
(15,937 |
)
|
|
$
|
1.5089 |
|
|
| |
|
|
|
|
|
|
|
|
|
Outstanding – December 31, 2022
|
|
964,586 |
|
|
$
|
0.4891 |
|
5.34 |
| |
|
|
|
|
|
|
|
|
|
Exercisable – December 31, 2022
|
|
771,956 |
|
|
$
|
0.1476 |
|
4.36 |
|
|
|
Number of
Options
|
|
Weighted-
Average
Exercise Price
|
|
Weighted
Average
Remaining
Contractual
Life
|
|
Outstanding – January 1, 2021
|
|
879,251 |
|
|
$
|
0.0874 |
|
6.25 |
|
Granted
|
|
43,261 |
|
|
$
|
1.3616 |
|
|
|
Exercised
|
|
(2,763 |
)
|
|
$
|
0.1058 |
|
|
|
Expired and forfeited
|
|
(29,256 |
)
|
|
$
|
0.0874 |
|
|
| |
|
|
|
|
|
|
|
|
|
Outstanding – December 31, 2021
|
|
890,493 |
|
|
$
|
0.1518 |
|
5.43 |
| |
|
|
|
|
|
|
|
|
|
Exercisable – December 31, 2021
|
|
801,562 |
|
|
$
|
0.276 |
|
5.10 |
|
| Schedule of Ordinary Shares Issuable Upon Outstanding Options and Exercisable Options |
|
The following table summarize information as of December 31, 2022, regarding the number of ordinary shares issuable upon outstanding options and exercisable options:
|
Exercise price
|
|
Options
outstanding
as of
December 31,
2022
|
|
Weighted
average
remaining
contractual
life (years)
|
|
Options
exercisable
as of
December 31,
2022
|
|
Weighted
average
remaining
contractual
life (years)
|
| 0.0644 |
|
312,357 |
|
2.61 |
|
312,357 |
|
2.61 |
| 0.1058 |
|
449,885 |
|
5.43 |
|
437,516 |
|
5.39 |
| 0.5780 |
|
88,431 |
|
9.96 |
|
—
|
|
— |
| 1.3616 |
|
38,912 |
|
8.41 |
|
15,472 |
|
8.41 |
| 4 |
|
75,001 |
|
9.2 |
|
6,611 |
|
9.7 |
|
| Schedule of Fair Value of the Share Options Granted |
|
Key assumptions used to estimate the fair value of the share options granted during the year ended December 31, 2022 and 2021 included:
|
|
|
Year Ended December 31
|
| |
|
2022
|
|
2021
|
|
Expected term of options (years)
|
|
10 |
|
|
5.4 |
|
|
Expected common stock price volatility*
|
|
54 |
% |
|
58 |
%
|
|
Expected dividend rate
|
|
0 |
% |
|
0 |
%
|
|
Risk-free interest rate
|
|
3.21 |
% – 3.25% |
|
0.97 |
%
|
|
| Schedule of Share-Based Compensation Expense for Share Options |
|
Share-based compensation expense for share options in the consolidated statement of comprehensive loss is summarized as follows:
|
|
|
Year Ended December 31
|
| |
|
2022
|
|
2021
|
|
Cost of revenues
|
|
3 |
|
3 |
|
Research and development
|
|
26 |
|
24 |
|
Sales and marketing
|
|
11 |
|
16 |
|
General and administrative
|
|
12 |
|
10 |
|
Total Share-based compensation expense
|
|
52 |
|
53 |
|
| Schedule of RSUs Outstanding |
The following table summarize information as of September 30, 2023, regarding the number of RSUs outstanding:
|
|
|
September 30 2023
|
| |
|
Number of
RSUs
|
|
Weighted-
Average Grant
Date Fair
Value
|
|
RSUs outstanding at the beginning of the year (*)
|
|
59,200 |
|
|
$
|
16.2 |
|
Granted during the period
|
|
39,100 |
|
|
|
3.38 |
|
Vested during the period
|
|
(16,954 |
)
|
|
|
18.1 |
|
Forfeited during the period
|
|
(8,400 |
)
|
|
|
4.8 |
|
Outstanding as of September 30, 2023
|
|
72,945 |
|
|
$
|
11.1 |
|
The following table summarize information as of December 31, 2022, regarding the number of RSUs outstanding:
|
|
|
December 31, 2022
|
| |
|
Number of RSUs
|
|
Weighted- Average Grant Date Fair Value
|
|
RSUs outstanding at the beginning of the year
|
|
—
|
|
|
—
|
|
Granted during the year
|
|
592,000 |
|
$
|
1.62 |
|
Exercised during the year
|
|
—
|
|
|
—
|
|
Forfeited during the year
|
|
—
|
|
|
—
|
|
Outstanding at the end of the year
|
|
592,000 |
|
$
|
1.62 |
|
| Schedule of Share-Based Compensation Expense for RSUs |
|
Share-based compensation expense for RSUs in the consolidated statement of comprehensive loss is summarized as follows:
|
|
|
Year Ended December 31
|
| |
|
2022
|
|
2021
|
| |
|
U.S. dollars in thousands
|
|
Research and development
|
|
21 |
|
—
|
|
Sales and marketing
|
|
12 |
|
—
|
|
General and administrative
|
|
135 |
|
—
|
|
Total Share-based compensation expense
|
|
168 |
|
—
|
|