Document and Entity Information - USD ($) $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Mar. 20, 2026 |
Jun. 30, 2025 |
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| Document Information [Line Items] | ||||
| Document Type | 10-K | |||
| Entity Registrant Name | NANO DIMENSION LTD. | |||
| Entity Central Index Key | 0001643303 | |||
| Current Fiscal Year End Date | --12-31 | |||
| Entity File Number | 001-37600 | |||
| Entity Filer Category | Accelerated Filer | |||
| Entity Small Business | false | |||
| Entity Shell Company | false | |||
| Entity Emerging Growth Company | false | |||
| Document Period End Date | Dec. 31, 2025 | |||
| Document Fiscal Year Focus | 2025 | |||
| Document Fiscal Period Focus | FY | |||
| Amendment Flag | false | |||
| Entity Well-known Seasoned Issuer | No | |||
| Entity Voluntary Filers | No | |||
| Entity Incorporation, State or Country Code | L3 | |||
| Entity Tax Identification Number | 52-0029109 | |||
| Entity Address, Address Line One | 60 Tower Road | |||
| Entity Address, City or Town | Waltham | |||
| Entity Address, State or Province | MA | |||
| Entity Address, Postal Zip Code | 02451 | |||
| City Area Code | 866 | |||
| Local Phone Number | 496-1805 | |||
| Document Annual Report | true | |||
| Document Transition Report | false | |||
| Entity Interactive Data Current | Yes | |||
| Entity Current Reporting Status | Yes | |||
| ICFR Auditor Attestation Flag | true | |||
| Document Financial Statement Error Correction [Flag] | false | |||
| Entity Public Float | $ 353.3 | |||
| Entity Common Stock, Shares Outstanding | 207,986,287 | |||
| Auditor Firm ID | 185 | 1057 | ||
| Auditor Location | Stamford, Connecticut | Tel-Aviv, Israel | ||
| Auditor Name | KPMG LLP | Somekh Chaikin | ||
| Auditor Opinion [Text Block] | Opinion on the Consolidated Financial Statements We have audited the accompanying consolidated balance sheet of Nano Dimension Ltd. and subsidiaries (the Company) as of December 31, 2025, the related consolidated statements of operations and comprehensive loss, changes in equity, and cash flows for the year ended December 31, 2025, and the related notes (collectively, the consolidated financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025, and the results of its operations and its cash flows for the year ended December 31, 2025, in conformity with U.S. generally accepted accounting principles. |
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| American Depositary Shares [Member] | ||||
| Document Information [Line Items] | ||||
| Title of 12(b) Security | American Depositary Shares | |||
| Trading Symbol | NNDM | |||
| Security Exchange Name | NASDAQ | |||
| Rights to Purchase American Depositary Shares [Member] | ||||
| Document Information [Line Items] | ||||
| Title of 12(b) Security | Rights to Purchase American Depositary Shares | |||
| Trading Symbol | NNDM | |||
| Security Exchange Name | NASDAQ | |||
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Trade receivables, net of allowance for doubtful accounts | $ 861 | $ 811 |
| NIS [Member] | ||
| Common stock, par value | $ 5 | $ 5 |
| Common stock, shares authorized | 500,000,000 | 500,000,000 |
| Common stock, shares issued | 279,306,522 | 273,847,185 |
| Common stock, shares outstanding | 206,811,875 | 215,777,000 |
Cybersecurity Risk Management, Strategy, and Governance |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Cybersecurity Risk Management, Strategy, and Governance [Line Items] | |
| Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] | ITEM 1C. CYBERSECURITY We recognize the critical importance of maintaining the trust and confidence of our customers, clients, business partners and employees. The board of directors is actively involved in oversight of our crisis management plan, or the Crisis Management Plan, and cybersecurity represents an important component of our overall approach to risk management. Our cybersecurity policies, standards, processes and practices are fully integrated into our Crisis Management Plan and are based on recognized frameworks established by the Israeli National Institute of Standards and Technology, the International Organization for Standardization and other applicable industry standards. In general, we seek to address cybersecurity risks through a comprehensive, cross-functional approach that is focused on preserving the confidentiality, security and availability of the information that we collect and store by identifying, preventing and mitigating cybersecurity threats and effectively responding to cybersecurity incidents when they occur. Risk Management and Strategy As part of the critical elements of our overall risk management approach, our cybersecurity program is focused on the following key areas: • Governance: The board of directors’ oversight of cybersecurity risk management is supported by the Crisis Management Team, or CMT, which regularly interacts with it and with our Chief Information Security Officer, or CISO, other members of management and relevant management committees. • Collaborative Approach: We implemented a comprehensive, cross-functional approach to identifying, preventing and mitigating cybersecurity threats and incidents, while also implementing controls and procedures that provide for the prompt escalation of certain cybersecurity incidents so that decisions regarding the public disclosure and reporting of such incidents can be made by management in a timely manner. • Technical Safeguards: We deploy technical safeguards that are designed to protect our information systems from cybersecurity threats, including firewalls, intrusion prevention and detection systems, anti-malware functionality and access controls, which are evaluated and improved through vulnerability assessments and cybersecurity threat intelligence. • Incident Response and Recovery Planning: We have established and maintain a comprehensive Crisis Management Plan that fully addresses our response to a cybersecurity incident, and such plan is tested and evaluated on a regular basis. • Product Risk Management and Vulnerability Management: As a key part of our overall risk management strategy, our cybersecurity program implements a risk-based process to manage cybersecurity risks across our products throughout their lifecycles. This includes secure design, development, testing, release, and post-release activities. We also have processes to identify, assess, prioritize, and fix vulnerabilities, including those related to third-party components and software dependencies. Additionally, we deploy security updates and other corrective actions as needed. • Third-Party Risk Management: We maintain a comprehensive, risk-based approach to identifying and overseeing cybersecurity risks presented by third parties, including vendors, service providers and other external users of our systems, as well as the systems of third parties that could adversely impact our business in the event of a cybersecurity incident affecting those third-party systems. • Education and Awareness: We provide regular, mandatory training for personnel regarding cybersecurity threats as a means to equip our personnel with effective tools to address cybersecurity threats, and to communicate our evolving information security policies, standards, processes and practices. We engage in the periodic assessment and testing of our policies, standards, processes and practices that are designed to address cybersecurity threats and incidents. These efforts include a wide range of activities, including audits, assessments, tabletop exercises, threat modeling, vulnerability testing, and other exercises focused on evaluating the effectiveness of our cybersecurity measures and planning. For further information, see “Item 1A. Risk Factors—General Risk Factors--Significant disruptions of our information technology systems or breaches of our data security could adversely affect our business.” Governance The board of directors, in coordination with the CMT, oversees our risk management process, including the management of risks arising from cybersecurity threats. Company’s management and the CMT each receive presentations and reports on cybersecurity risks, which address a wide range of topics including recent developments, evolving standards, vulnerability assessments, third-party and independent reviews, the threat environment, technological trends and information security considerations arising with respect to our peers and third parties. The board of directors and CMT also receive prompt and timely information regarding any cybersecurity incident that meets established reporting thresholds, as well as ongoing updates regarding any such incident until it has been addressed. The CISO, in coordination with the CMT, works collaboratively across the Company to implement a program designed to protect our information systems from cybersecurity threats and to promptly respond to any cybersecurity incidents in accordance with the Company’s incident response and recovery plans. Mr. Luzon has been our CISO since November 2021. He has several years of experience in security management. Prior to joining our Company, from 2016 through 2021, he served as Information Security Manager for the Israeli Ministry of Religious Services. Mr. Luzon has an M.B.A. from the College of Management and Academic Studies. He is a Technion Certified CISO, Information Security, of Technion – Israel Institute of Technology. Cybersecurity threats, including as a result of any previous cybersecurity incidents, have not materially affected or are reasonably likely to affect our Company, including our business strategy, results of operations or financial condition. |
| Cybersecurity Risk Management Processes Integrated [Flag] | true |
| Cybersecurity Risk Management Processes Integrated [Text Block] | We recognize the critical importance of maintaining the trust and confidence of our customers, clients, business partners and employees. The board of directors is actively involved in oversight of our crisis management plan, or the Crisis Management Plan, and cybersecurity represents an important component of our overall approach to risk management. Our cybersecurity policies, standards, processes and practices are fully integrated into our Crisis Management Plan and are based on recognized frameworks established by the Israeli National Institute of Standards and Technology, the International Organization for Standardization and other applicable industry standards. In general, we seek to address cybersecurity risks through a comprehensive, cross-functional approach that is focused on preserving the confidentiality, security and availability of the information that we collect and store by identifying, preventing and mitigating cybersecurity threats and effectively responding to cybersecurity incidents when they occur. |
| Cybersecurity Risk Management Third Party Engaged [Flag] | true |
| Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] | true |
| Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] | false |
| Cybersecurity Risk Board of Directors Oversight [Text Block] | Governance The board of directors, in coordination with the CMT, oversees our risk management process, including the management of risks arising from cybersecurity threats. Company’s management and the CMT each receive presentations and reports on cybersecurity risks, which address a wide range of topics including recent developments, evolving standards, vulnerability assessments, third-party and independent reviews, the threat environment, technological trends and information security considerations arising with respect to our peers and third parties. The board of directors and CMT also receive prompt and timely information regarding any cybersecurity incident that meets established reporting thresholds, as well as ongoing updates regarding any such incident until it has been addressed. The CISO, in coordination with the CMT, works collaboratively across the Company to implement a program designed to protect our information systems from cybersecurity threats and to promptly respond to any cybersecurity incidents in accordance with the Company’s incident response and recovery plans. Mr. Luzon has been our CISO since November 2021. He has several years of experience in security management. Prior to joining our Company, from 2016 through 2021, he served as Information Security Manager for the Israeli Ministry of Religious Services. Mr. Luzon has an M.B.A. from the College of Management and Academic Studies. He is a Technion Certified CISO, Information Security, of Technion – Israel Institute of Technology. Cybersecurity threats, including as a result of any previous cybersecurity incidents, have not materially affected or are reasonably likely to affect our Company, including our business strategy, results of operations or financial condition. |
| Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] | The board of directors, in coordination with the CMT, oversees our risk management process, including the management of risks arising from cybersecurity threats. |
| Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] | Company’s management and the CMT each receive presentations and reports on cybersecurity risks, which address a wide range of topics including recent developments, evolving standards, vulnerability assessments, third-party and independent reviews, the threat environment, technological trends and information security considerations arising with respect to our peers and third parties. The board of directors and CMT also receive prompt and timely information regarding any cybersecurity incident that meets established reporting thresholds, as well as ongoing updates regarding any such incident until it has been addressed. |
| Cybersecurity Risk Role of Management [Text Block] | The CISO, in coordination with the CMT, works collaboratively across the Company to implement a program designed to protect our information systems from cybersecurity threats and to promptly respond to any cybersecurity incidents in accordance with the Company’s incident response and recovery plans. Mr. Luzon has been our CISO since November 2021. He has several years of experience in security management. Prior to joining our Company, from 2016 through 2021, he served as Information Security Manager for the Israeli Ministry of Religious Services. Mr. Luzon has an M.B.A. from the College of Management and Academic Studies. He is a Technion Certified CISO, Information Security, of Technion – Israel Institute of Technology. |
| Cybersecurity Risk Management Positions or Committees Responsible [Flag] | true |
| Cybersecurity Risk Management Positions or Committees Responsible [Text Block] | The CISO, in coordination with the CMT, works collaboratively across the Company to implement a program designed to protect our information systems from cybersecurity threats and to promptly respond to any cybersecurity incidents in accordance with the Company’s incident response and recovery plans. |
| Cybersecurity Risk Management Expertise of Management Responsible [Text Block] | Mr. Luzon has been our CISO since November 2021. He has several years of experience in security management. Prior to joining our Company, from 2016 through 2021, he served as Information Security Manager for the Israeli Ministry of Religious Services. Mr. Luzon has an M.B.A. from the College of Management and Academic Studies. He is a Technion Certified CISO, Information Security, of Technion – Israel Institute of Technology. |
| Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] | • Collaborative Approach: We implemented a comprehensive, cross-functional approach to identifying, preventing and mitigating cybersecurity threats and incidents, while also implementing controls and procedures that provide for the prompt escalation of certain cybersecurity incidents so that decisions regarding the public disclosure and reporting of such incidents can be made by management in a timely manner. |
| Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] | true |
Pay vs Performance Disclosure - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Pay vs Performance Disclosure | |||
| Net Income (Loss) | $ (293,295) | $ (98,829) | $ (55,965) |
Award Timing Disclosure |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Award Timing Disclosures [Line Items] | |
| Award Timing MNPI Disclosure | Policies on the Timing of Option Awards
Item 402(x) of Regulation S-K requires us to discuss our policies and practices on the timing of awards of options in relation to the disclosure by us of material nonpublic information. We have not granted stock options, stock appreciation rights or similar option-like instruments since 2023. Accordingly, we do not consider the release of material nonpublic information in relation to the grant of such awards and do not time such release for the purpose of affecting the value of executive compensation. |
| Award Timing MNPI Considered | false |
| MNPI Disclosure Timed for Compensation Value | false |
Insider Trading Arrangements |
3 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Trading Arrangements, by Individual | |
| Rule 10b5-1 Arrangement Adopted | false |
| Non-Rule 10b5-1 Arrangement Adopted | false |
| Rule 10b5-1 Arrangement Terminated | false |
| Non-Rule 10b5-1 Arrangement Terminated | false |
Insider Trading Policies and Procedures |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Insider Trading Policies and Procedures [Line Items] | |
| Insider Trading Policies and Procedures Adopted | true |
Description of Business |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Business Combination, Description [Abstract] | |
| Description of Business | Note 1 – Description of BusinessReporting Entity Nano Dimension Ltd. (the “Company”) is an Israeli resident company incorporated in Israel. Until April 11, 2025, the address of the Company’s principal executive office was 2 Ilan Ramon St., Ness Ziona 7403635, Israel. Effective from that date, the Company’s principal executive office is located at 60 Tower Road, Waltham, Massachusetts, 02451, United States. Unless otherwise indicated, all references to the “Company,” refer to Nano Dimension Ltd. and its subsidiaries, Global Inkjet Systems Ltd. (“GIS”), a United Kingdom corporation, Nano Dimension Technologies Ltd. (“Nano Tech”), an Israeli corporation, Essemtec AG (“Essemtec”) and Nano Dimension Swiss GmbH (“Nano Swiss”), Swiss corporations, Formatec Holding B.V. (“Formatec Holding”) (which is in the process of liquidation), Admatec Europe B.V. (“Admatec”) (which is in the process of liquidation) and Formatec Technical Ceramics B.V. (“Formatec”) (which is in the process of liquidation), Dutch corporations, Nano Dimension USA Inc. (“Nano USA”), a Delaware corporation, Essemtec USA, LLC, a Delaware limited liability company, Nano Dimension GmbH (“Nano Germany”) and Essemtec Deutschland GmbH, German corporations, Nano Dimension Australia Pty Ltd. (“Nano Australia”), an Australian corporation, Nano Dimension (HK) Limited, a Hong Kong corporation, Essemtec France SAS, a French corporation, Nano Dimension NY Ltd., a New York corporation, Nano Dimension Trading (Shenzhen) Ltd., a Chinese corporation, and Markforged Holding Corporation ("Markforged") and Desktop Metal, Inc. ("Desktop Metal"), Delaware corporations. The Company engages in industrial manufacturing solutions of multi-disciplinary technology - combining hardware, software, and materials science. These solutions are used for design-to-manufacturing of electronics and mechanical parts by advanced industrial customers in aerospace, defense, automotive, electronics, medical, research and academia, as well as government organizations. Since March 2016, the Company’s American Depositary Shares (“ADSs”) have been trading on the Nasdaq Capital Market (“Nasdaq”). Material events in the reporting period Iron Swords War in Israel On October 7, 2023, Hamas terrorists infiltrated Israel’s southern border from the Gaza Strip and conducted a series of attacks on civilian and military targets. Hamas also launched extensive rocket attacks on Israeli population and industrial centers located along Israel’s border with the Gaza Strip and in other areas within the State of Israel. These attacks resulted in extensive deaths, injuries and kidnapping of civilians and soldiers. Following the attack, Israel’s security cabinet declared war against Hamas and a military campaign against these terrorist organizations commenced in parallel to their continued rocket and terror attacks (the “Iron Swords War”). Following this, there was a decrease in Israel’s economic and business activity. The security situation has led, inter alia, to a disruption in the chain of supply and production, a decrease in the volume of national transportation, a shortage in manpower as well as a decrease in the value of financial assets and a rise in the exchange rate of foreign currencies in relation to the NIS. There has been no material impact on the Company’s operations and revenues. On February 28, 2026, the U.S. and Israel initiated air strikes against Iranian military targets and leadership. Since then, retaliation by Iran against U.S. and Israeli interests in the Middle East has been widespread. As of the date of the filing of this Annual Report on Form 10-K, military activity and hostilities continue to escalate in the Middle East, and the situation throughout the region remains volatile, with the potential for continued escalation into a broader and more sustained regional conflict. |
Summary of Significant Accounting Policies |
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| Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Significant Accounting Policies | Note 2 - Summary of Significant Accounting PoliciesThe consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. The Company’s fiscal year end is December 31 and, unless otherwise stated, all years and dates refer to the fiscal year. Certain reclassifications have been made to prior year presentation to conform to current year presentation. Principles of Consolidation The consolidated financial statements of the Company have been prepared in accordance with U.S. GAAP. All intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Management’s significant estimates include: determination of the fair value of consideration transferred in an acquisition, estimated impairment of non-financial assets, impairment of long-lived assets, and estimation of legal contingencies. The Company prepares the estimates on the basis of past experiences, various facts, external circumstances, and reasonable assumptions according to the pertinent circumstances of each estimate. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Segment Information The Company operates in one operating and reportable segment. Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker, who is the Company’s CEO, in deciding how to allocate resources and assessing performance. The Company’s chief operating decision maker allocates resources and assesses performance based upon discrete financial information at the consolidated level, see Note 16. Functional Currency The Company’s functional currency is the U.S. dollar (“USD”). The USD is the currency that represents the principal economic environment in which the Company operates. Accordingly, foreign currency assets and liabilities are re-measured into USD at the end-of-period exchange rates except for non-monetary assets and liabilities, which are measured at historical exchange rates. Revenue and expenses are re-measured each day at the exchange rate in effect on the day the transaction occurred or the average exchange rate in the month in accordance with ASC 830, Foreign Currency Matters. Gains or losses from foreign currency exchange rate re-measurements and settlements are included in finance income and finance expense in the consolidated statements of operations and comprehensive loss and accumulated other comprehensive income (loss) on the consolidated balance sheets. The functional currency of certain subsidiaries and associated companies is their local currency. The financial statements of those companies are included in the consolidated financial statements, translated into USD. Assets and liabilities are translated at year-end exchange rates, while revenues and expenses are translated at the average exchange rates during the year. Differences resulting from translation are presented as other comprehensive income (loss) in the consolidated statements of operations and comprehensive loss, and are part of accumulated other comprehensive income (loss) on the consolidated balance sheets. Cash and Cash Equivalents All highly liquid investments purchased with original maturities of three months or less are considered to be cash equivalents. Bank Deposits and Restricted Bank Deposits The Company has bank deposits that have a term of three to twelve months and bear a fixed interest rate of between 3.4%‑5.7%. In addition, the Company has restricted bank deposits for routine operations and the lease of its offices and labs. The restricted deposits are not linked and bear an annual interest rate of 0.01%‑4.4%. The Company expects to lease its offices and labs for a period of more than a year, thus these restricted bank deposits were classified as a non-current asset. Trade Receivables, Net Trade receivables are recorded at the invoiced amount and do not bear interest. Credit losses are estimated for accounts receivable considered to be uncollectible based on management’s assessment of collectability, which considers specific customers’ abilities to meet their financial obligations, the length of time receivables are past due, and historical collection experience. If circumstances related to specific customers change, or economic conditions deteriorate such that past collection experience is no longer relevant, the Company’s estimate of the recoverability of accounts receivable could be further reduced from the levels provided for in the consolidated financial statements. Concentrations of Credit Risk Financial instruments that subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, bank deposits, marketable equity securities, and trade receivables. The cash and marketable securities of the Company is deposited in Israeli, European and U.S. banking corporations. Two banking institutions each accounted for more than 10% of cash, cash equivalents and bank deposits as of December 31, 2025. In the estimation of the Company’s management, the credit risk for these financial instruments is low. For trade receivables, the Company is exposed to credit risk in the event of nonpayment by customers. Trade receivables are geographically diversified and derived primarily from sales in the United States, EMEA, and APAC. To manage its trade receivable risk, the Company evaluates the credit worthiness of its customers and maintains allowances for potential credit losses. The Company has not historically experienced any material credit losses related to individual customers or groups of customers in any specific area or industry. No single customer accounted for more than 10% of revenue in fiscal years 2025, 2024 or 2023. One customer accounted for more than 10% of trade receivables as of December 31, 2025, and no single customer accounted for more than 10% of trade receivables as of December 31, 2024. Fair Value Measurements The Company is required to provide information according to the fair value hierarchy based on the observability of the inputs used in the valuation techniques. The fair value hierarchy ranks the quality and reliability of the information used to determine fair values. Financial assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories: Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 - Unobservable inputs which are supported by little or no market activity. Financial instruments consist of cash equivalents, bank deposits, marketable securities, trade receivables, other receivables, trade payables, accrued liabilities, other current liabilities and derivative financial instruments. Derivative financial instruments are stated at fair value on a recurring basis. Cash equivalents, bank deposits, trade receivables, other receivables, trade payables, accrued liabilities and other current liabilities, are stated at their carrying value, which approximates their fair value due to the short time to the expected receipt or payment date. The Company measures investment in marketable equity securities at fair value on the consolidated statements of operations and comprehensive loss. As part of the Strategic Initiative, marketable equity securities have been classified as a current asset as of December 31, 2025 as the Company explores all strategic alternatives. The Company’s financial assets that are measured at fair value on a recurring basis by level within the fair value hierarchy are as follows:
There were no transfers between fair value levels during 2025 and 2024. Inventory Inventory is stated at the lower of cost or net realizable value. Cost is based on a standard costing system which approximates the cost on a first in, first out method. The Company regularly reviews inventory for excess and obsolescence and records a provision to write down inventory to its net realizable value when carrying value is in excess of this value. The costs include materials, labor, and manufacturing overhead that relate to the acquisition of raw materials and production into finished goods. The net realizable value considers the ability to utilize the inventory prior to perishing as well as the estimated selling price and costs of completion and sale. Inventory on hand, product development plans, and sales forecasts are regularly reviewed to identify carrying values in excess of net realizable value. Property, Plant and Equipment, Net Property, plant and equipment, net are carried at cost, including directly attributed acquisition costs, less accumulated depreciation and losses from accrued decrease in value, and are subject to review for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset group may not be recoverable. The cost of normal, recurring, or periodic repairs and maintenance activities related to property, plant and equipment is expensed as incurred. The cost of printers used for internal purposes includes the cost of materials and direct labor, and any other costs directly attributable to bringing the asset to a working condition for their intended use. The Company generally depreciates the cost of its property, plant and equipment using the straight-line method over the estimated useful lives of the respective assets as follows:
When the Company disposes of property, plant and equipment, it removes the associated cost and accumulated depreciation from the related accounts on its consolidated balance sheet and includes any resulting gain or loss within operating expenses on the accompanying consolidated statements of operations and comprehensive loss. Impairment of Long-Lived Assets The Company evaluates whether events or circumstances have occurred that indicate that the estimated remaining useful life of its long-lived assets may warrant reassessment or that the carrying value of these assets may not be recoverable. When a triggering event is identified, management assesses the recoverability of the asset group, which is the lowest level where identifiable cash flows are largely independent, by comparing the expected undiscounted cash flows of the asset group to the carrying value. When the carrying value is not recoverable and an impairment is determined to exist, the asset group is written down to fair value. The Company exited certain leased facilities during fiscal year 2025 and has obtained, or is in the process of seeking, subleases for those properties. The Company recorded a non-cash, pre-tax and after-tax partial impairment charge of $5.7 million during the year ended December 31, 2025 related to the operating lease right-of-use (“ROU”) asset recorded for our headquarters at 60 Tower Road, Waltham, Massachusetts 02451 (“60 Tower”) within the impairment caption of the consolidated statements of operations and comprehensive loss. The impairment was determined by comparing the fair value of the impacted ROU asset to the carrying value of the asset as of the impairment measurement date, as required under ASC Topic 360, Property, Plant, and Equipment, using Level 2 inputs. The fair value of the ROU asset was based on the estimated sublease income for certain facilities taking into consideration the time period it will take to obtain a sublessor, the applicable discount rate and the sublease rate. We entered in to a sublease for our previous U.S. headquarters at 350 5th Ave in Waltham, Massachusetts during the year ended December 31, 2025 that resulted in impairment of $1.5 million, in addition we partially impaired our lease in Germany during the fourth quarter of 2025 in the amount of $0.3 million. The impairments are recorded within the impairment caption of the consolidated statements of operations and comprehensive loss.
Business Combinations The Company accounts for business combinations under the acquisition method of accounting. The Company allocates the amounts that it pays for each acquisition to the assets it acquires and liabilities it assumes based on their fair values at the date of acquisition. The excess of the value of consideration transferred over the aggregate fair value of those net assets is recorded as goodwill. Any identified definite lived intangible assets will be amortized over their estimated useful lives and any identified intangible assets with indefinite useful lives and goodwill will not be amortized but will be tested for impairment at least annually. When determining the fair value of assets acquired and liabilities assumed, management makes significant estimates and assumptions, including the selection of valuation methodologies, estimates of future revenues and cash flows, discount rates, especially with respect to intangible assets. The Company estimates fair value based upon assumptions that are believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company’s consolidated statements of operations and comprehensive loss. Acquisition-related transaction costs are not included as a component of consideration transferred but are accounted for as an expense in the period in which the costs are incurred. Any contingent consideration is measured at fair value at the date of acquisition. If an obligation to pay contingent consideration that meets the definition of a financial instrument is classified as equity, then it is not re-measured, and settlement is accounted for within equity. Otherwise, other contingent considerations are classified as a financial liability and re-measured at fair value at each reporting date, and subsequent changes in the fair value of the contingent consideration are recognized in the consolidated statements of operations and comprehensive loss. If share-based payment awards (“replacement awards”) are required to be exchanged for awards held by the acquiree’s employees (“acquiree’s awards”), then all or a portion of the amount of the acquirer’s replacement awards is included in measuring the consideration transferred in the business combination. This determination is based on the market-based measure of the replacement awards compared with the market-based measure of the acquiree’s awards and the extent to which the replacement awards relate to pre-combination service. Goodwill Goodwill represents the future economic benefits arising from other assets acquired in a business combination that is not individually identified and separately recorded. The excess of the purchase price over the estimated fair value of net assets of businesses acquired in a business combination is recognized as goodwill. Goodwill is not amortized but is tested for impairment annually at the start of the fourth quarter, or as circumstances indicate that the carrying value of the asset may not be recoverable through future operations. The Company reviews goodwill for impairment utilizing either a qualitative assessment or a quantitative goodwill impairment test. If we choose to perform a qualitative assessment and we determine that the fair value of the reporting unit more likely than not exceeds the carrying value, no further evaluation is necessary. When we perform the quantitative goodwill impairment test, we determine fair value using accepted valuation techniques, which can include the market and discounted cash flow methods. The fair value of the reporting unit is compared to the carrying value, which includes goodwill. If the fair value of the reporting unit exceeds its carrying value, we do not consider the goodwill impaired. If the carrying value is higher than the fair value, we recognize the difference as an impairment loss, limited to the total amount of goodwill. A quantitative goodwill impairment testing process requires valuation of the reporting unit. In the market approach, we can reference the Company’s market capitalization as a value indication given the Company’s single operating segment and reporting unit. In the income approach, which is based on a discounted forecasted cash flow including a terminal value, we compute the terminal value using the constant growth method, which values the forecasted cash flows in perpetuity. The assumptions about future cash flows and growth rates are based on the reporting unit's long-term forecast and is subject to review and approval by senior management. A reporting unit's discount rate is a significant assumption and is a risk-adjusted weighted average cost of capital, which we believe approximates the rate from a market participant's perspective. The estimated fair value could be impacted by changes in market conditions and various other assumptions, however we consider the discount rate assumption to be the key assumption. We categorize the fair value determination as Level 3 in the fair value hierarchy due to its use of internal projections and unobservable measurement inputs. The entirety of the goodwill carrying value related to the Desktop Metal acquisition was impaired and charged to discontinued operations along with all other net assets in the disposal group. As of October 1, 2025, it was determined that the remaining goodwill balance attributable to Markforged was not impaired. Intangible Assets Intangible assets consist of identifiable intangible assets acquired, specifically, developed technology, mutual licensing under a settlement agreement, trademarks, and customer relationships. The Company evaluates definite-lived intangible assets for impairment when events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable through future operations. If indicators of impairment are present, the Company then compares the estimated undiscounted cash flows that the specific asset is expected to generate to its carrying value. If such assets are impaired, the impairment recognized is measured as the amount by which the carrying amount of the asset exceeds its fair value. Warranty Reserve Substantially all of the Company’s hardware products are covered by a standard assurance warranty of one year. In the event of a failure of a product covered by this warranty, the Company may repair or replace the product, at its option. The Company’s warranty reserve reflects estimated material and labor costs for potential or actual product issues for which the Company expects to incur an obligation. The Company periodically assesses the appropriateness of the warranty reserve and adjusts the amount as necessary. If the data used to calculate the appropriateness of the warranty reserve are not indicative of future requirements, additional or reduced warranty reserves may be necessary. Warranty reserves are included within accrued liabilities on the consolidated balance sheets. The following table presents changes in the balance of the Company’s warranty reserve:
Discontinued Operations A component or group of components is classified as discontinued operations, (i) when it has been disposed of or meets the criteria to be classified as held for sale or disposal other than sale, and (ii) the disposal or intended disposal represents a strategic shift that has or is expected to have, a major effect on the Company’s operations and financial results. A discontinued operation includes components that comprise operations and cash flows that can be clearly distinguished from the Company’s continuing operations. As described in Note 8, Acquisitions and Divestures, the Company’s disposal of Desktop Metal met the criteria for classification as discontinued operations. Unless otherwise noted, discussions in the notes to the consolidated financial statements refers to the Company's continuing operations. Deconsolidation of Subsidiaries The Company accounts for a gain or loss on deconsolidation of subsidiaries or derecognition of a group of assets in accordance with ASC 810-10-40-5. The Company measures the gain or loss as the difference between (a) the aggregate of fair value of any consideration received, the fair value of any retained noncontrolling investment, and the carrying amount of any noncontrolling interest in the former subsidiary at the date the subsidiary is deconsolidated and (b) the carrying amount of the former subsidiary’s assets and liabilities or the carrying amount of the group of assets.
Loss on deconsolidation of subsidiaries represents the difference between proceeds received upon disposition and the book value of a subsidiary which has been divested and was excluded from treatment as a discontinued operation. Also included in loss on disposal of subsidiaries is the recognition of the cumulative translation adjustment associated with accumulated other comprehensive loss. The loss on deconsolidation of subsidiaries was $1.8 million related to Admatec-Formatec and a gain of $0.1 million related to J.A.M.E.S recorded to Restructuring on the consolidated statements of operations and comprehensive loss for the year ended December 31, 2025. Pension and Post-Employment Benefit Plans The Company’s liability for severance pay for its Israeli employees is mainly calculated pursuant to Israeli Severance Pay Law (1963) (the “Severance Pay Law”). The Company’s liability is covered by monthly deposits with severance pay funds and insurance policies. For most of the Company’s Israeli employees, the payments to pension funds and to insurance companies exempt the Company from any obligation towards its employees, in accordance with Section 14 of the Severance Pay Law, which is accounted for as a defined contribution plan. Accumulated amounts in pension funds and in insurance companies are not under the Company’s control and, accordingly, neither those amounts nor the corresponding accrual for severance pay are presented in the consolidated balance sheets. Post-employment benefits for Essemtec employees are treated as defined benefit plans. See Note 12. Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC Topic 606”). Under ASC Topic 606, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration which the entity expects to be entitled to in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of the revenue recognition accounting standard, the Company performs the following five steps: • identifies the contract with a customer; • identifies the performance obligations in the contract; • determines the transaction price; • allocates the transaction price to the performance obligations in the contract; and • recognizes revenue when (or as) the entity satisfies a performance obligation. On the contract’s inception date, the Company assesses the goods or services promised in the contract with the customer and identifies as a performance obligation any promise to transfer to the customer goods or services (or a bundle of goods or services) that are distinct. The Company identifies goods or services promised to the customer as being distinct when the customer can benefit from the goods or services on their own or in conjunction with other readily available resources and the Company’s promise to transfer the goods or services to the customer is separately identifiable from other promises in the contract. The Company’s identified performance obligations include printer, ink, maintenance (which is generally provided for a period of up to one year), training and installation. In some cases, the Company recognizes a warranty as a distinct service to the customer and is, therefore, a distinct performance obligation. Revenue is allocated among performance obligations in a manner that reflects the consideration that the Company expects to be entitled to for the promised goods based on the standalone selling prices (“SSP”) of the goods or services of each performance obligation. If a SSP is not directly observable, the Company allocates the transaction price to the identified performance obligations based on the residual approach, while allocating the estimated SSP for performance obligations relating to maintenance, training and installation services, and the residual is allocated to printers. Revenue allocated to printers, installation and training, and ink and other consumables are recognized when the control is passed in accordance with the contract terms at a point in time. Maintenance revenue is recognized ratably, on a straight-line basis, over the period of the services. Revenue from training and installation is recognized at the time of performance. Revenue from development services is recognized only when the relevant contractual milestone is achieved, and recognition is contingent upon such achievement. Product revenue is generally recognized when the customer obtains control of the Company’s product, which occurs at a point in time, and may be upon shipment or upon delivery based on the contractual shipping terms of a contract. Service revenue is generally recognized over time as the services are delivered to the customer based on the extent of progress towards completion of the performance obligation. Research and Development Expenses Research and development costs, which consist primarily of salaries, share-based compensation expense, materials consumption and costs associated with subcontracting certain development efforts, are expensed as incurred. Governmental Grants The Company receives royalty-bearing grants from the Israeli government for approved research and development projects. These grants are recognized at the time the Company is entitled to such grants based on the costs incurred or milestones achieved as provided by the relevant agreement and included as a deduction from research and development. Sales and Marketing Expenses Sales and marketing expenses consist primarily of salaries, share-based compensation expense, travel expenses, marketing and advertising services, depreciation, facilities costs, and other demand generation services. Advertising expenses for the years ended December 31, 2025, 2024 and 2023 were $2.2 million, $0.8 million, and $0.4 million, respectively and are expensed as incurred. Contingent Liabilities A provision is recorded when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. A provision for warranties is recognized when the underlying products or services are sold. The provision is based on historical warranty data and a weighting of all possible outcomes against their associated probabilities. A provision for legal claims is subject to subjective judgments, based on the status of such legal or regulatory proceedings, the merits of the Company’s defenses and consultation with corporate and external legal counsel. Actual outcomes may differ materially from the Company’s estimates. Legal costs associated with the proceedings are expensed as incurred. Share-Based Compensation Share-based compensation expense associated with share-based awards is recognized based on the fair value of the granted awards and is recorded as expense over the requisite service period for share options and restricted stock units (“RSUs”). For awards with graded vesting schedules that are solely based on a service condition, the Company elects the straight-line recognition method for the entire award. The Company recognizes forfeitures of awards as they occur. The fair value of each option award is calculated on the grant date using the Black-Scholes option-pricing model. Measurement inputs include the share price on the measurement date, the exercise price of the instrument, expected volatility (based on the weighted average volatility of the Company’s shares, over the expected term of the options), expected term of the options (based on general option holder behavior and expected share price), expected dividends, and the risk-free interest rate (based on government debentures). The assumptions used to determine the fair value of the share awards represent management’s best estimates. These estimates involve inherent uncertainties and the application of management’s judgment. The fair value of each RSU award is based on the market value of the underlying ordinary shares on the grant date. Leases Arrangements meeting the definition of a lease are classified as operating and are recorded on the consolidated balance sheet as both a lease right-of-use asset and lease right-of-use liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Lease right-of-use liabilities are increased by interest and reduced by payments each period, and the lease right-of-use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right-of-use asset result in straight-line rent expense over the lease term. Variable lease payments that depend on an index are measured using the index at the commencement date. Subsequent changes to the index or rate during the lease term are accounted for as variable payments which are recorded when incurred. In calculating the lease right-of-use asset and liability, the Company elects to combine lease and non-lease components. The Company excludes short-term leases having initial terms of 12 months or less as an accounting policy election and recognizes rent expense on a straight-line basis over the lease term. The Company has the option to extend some of its lease agreements. In measuring the lease right-of-use asset and liability, the Company only takes into account options to extend when it is reasonably certain that such options to extend will be exercised. The Company does not have any leases classified as finance leases. Income taxes The Company is subject to income taxes in Israel, and other foreign jurisdictions (such as the U.S., Switzerland, Germany, England and more). These foreign jurisdictions may have different statutory rates than in Israel. Income taxes are accounted for in accordance with ASC 740, Income Taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax basis as well as operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The financial effect of changes in tax laws or rates is accounted for in the period of enactment. Valuation allowance in respect of deferred tax assets is provided for, if necessary, to reduce deferred tax assets is amounts more likely than not to be realized. Taxes which would apply in the event of disposal of investment in foreign subsidiaries have not been considered in computing the deferred taxes, since the intention of the Company is to hold and not to realize the investment. The Company recognizes income tax benefits from uncertain tax positions only if it believes that it is more-likely-than-not that the tax position will be sustained upon examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such uncertain tax positions are then measured based on the largest benefit that is more-likely-than-not to be realized upon the ultimate settlement. Although the Company believes that it has adequately reserved for its uncertain tax positions, it can provide no assurance that the final tax outcome of these matters will not be materially different. The Company makes adjustments to these reserves when facts and circumstances change, such as the closing of a tax audit or the refinement of an estimate. To the extent that the final tax outcome of these matters is different from the amounts recorded, such differences will affect the provision for income taxes in the period in which such determination is made. The Company classifies interest and penalties on income taxes (which includes uncertain tax positions) as taxes on income. Treasury Shares The Company repurchases its shares from time to time in the open market, or in other transactions, and holds such repurchased shares as treasury shares. The Company presents the cost to repurchase treasury shares as a separate component within the consolidated balance sheets and is a reduction of shareholders’ equity. Basic and Diluted Loss Per Share Basic and diluted loss per share is calculated by dividing the net loss attributable to common shareholders by the weighted average number of common shares outstanding during the financial year, adjusted for shares issued during the year, if applicable. Recently Adopted Accounting Pronouncements In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2023‑09 “Income Taxes (Topics 740): Improvements to Income Tax Disclosures”, which expands the disclosure requirements for income taxes, primarily related to the rate reconciliation and income taxes paid. This ASU is effective for fiscal years beginning after December 15, 2024. The Company's adoption of this standard in fiscal year 2025 did not have a material impact on its consolidated financial statements and related disclosures. Recently Issued Accounting Pronouncements Not Yet Adopted In November 2024, the FASB issued ASU No. 2024-03, "Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses." This ASU requires an entity to disclose the amounts of purchases of inventory, employee compensation, depreciation, and intangible asset amortization included in each relevant expense caption. It also requires an entity to include certain amounts that are already required to be disclosed under current GAAP in the same disclosure. Additionally, it requires an entity to disclose a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, and to disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. The amendments in the ASU are effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating this ASU to determine its impact on its disclosures in the consolidated financial statements. In December 2025, the FASB issued ASU-2025-10, "Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities" which establishes authoritative guidance on the accounting for government grants received by business entities. The guidance is effective for annual periods beginning after December 15, 2028, and interim reporting periods within those annual reporting periods, with early adoption permitted. The Company is currently evaluating the effect this standard will have on its consolidated financial statements and related disclosures. In December 2025, the FASB issued ASU 2025-11, "Interim Reporting (Topic 270): Narrow-Scope Improvements," which is intended to improve the navigability of the guidance in ASC 270 and clarify when it applies. Under the amendments, an entity is subject to ASC 270 if it provides interim financial statements and notes in accordance with GAAP. ASU 2025-11 also addresses the form and content of such financial statements, interim disclosures requirements, and establishes a principle under which an entity must disclose events since the end of the last annual reporting period that have a material impact on the entity. ASU 2025-11 is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027, and early adoption is permitted. The Company is currently assessing the impact ASU 2025-11 will have on the Company's interim consolidated financial statements. |
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Allowance for doubtful accounts |
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| Allowance for doubtful accounts | Note 3 - Allowance for doubtful accountsThe following is a summary of the activity of the Company’s allowance for doubtful accounts:
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Other current assets |
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| Other current assets | Note 4 – Other current assetsOther current assets consist of the following:
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Inventory |
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| Inventory | Note 5 – InventoryInventory consists of the following:
The Company maintained a provision for excess and obsolete inventory of $6.5 million and $2.8 million as of December 31, 2025 and 2024, respectively. The charge to excess and obsolete inventories is recorded within cost of revenue in the consolidated statements of operations and comprehensive loss. In 2023, the Group’s warehouse located in the south of Israel suffered physical damage due to a direct missile hit related to the Iron Swords War. As a result, damaged inventory in the amount of $5.0 million was written off. The damage was covered by government authorities and the Company’s insurance policy, part of which was received in 2023, and the remainder in 2024. The net excess over the cost of the inventory damaged, was recognized as other income, $0.4 million in 2024 and $3.8 million in 2023. |
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Property, plant and equipment, net |
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| Property, plant and equipment, net | Note 6 – Property, plant and equipment, netThe composition of property, plant and equipment, net is as follows:
Depreciation expense for the years ended December 31, 2025, 2024 and 2023 amounted to $4.3 million, $2.6 million and $2.0 million, respectively. Impairment losses of property, plant and equipment were $1.2 million and $1.3 million in the years ended December 31, 2025 and 2024, respectively. There was no impairment loss of property, plant and equipment in the year ended December 31, 2023. Impairment during the year ended December 31, 2025 primarily relates to long-lived assets held by subsidiaries deconsolidated during the period and is included within Impairment losses on the consolidated statements of operations and comprehensive loss. See Note 13 for information regarding right-of-use asset impairment recorded during the year ended December 31, 2025 |
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Acquisitions and Divestitures |
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| Business Combination [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Acquisitions and Divestitures | Note 8 – Acquisitions and DivestituresFiscal 2025 ActivityAcquisition and Divestiture of Desktop Metal, Inc. ("Desktop Metal") On April 2, 2025, the Company acquired 100% of the shares and voting interests in Desktop Metal, a U.S. based publicly traded company (NYSE: DM). Desktop Metal designs and manufactures industrial-grade 3D printers, materials, and software. The acquisition of Desktop Metal was expected to generate operational synergies, while expanding the Company’s customer base and global market presence across key industries. After signing the Merger Agreement, the Company and Desktop worked diligently to close the transactions. By late 2024, the sole remaining condition to closing the transactions was approval by the Committee for Foreign Investment in the United States (“CIFIUS”). Desktop instituted a series of legal proceedings against the Company to compel the closing of the transactions. In the months that followed, Desktop incurred significant legal expenses that placed financial strain on its financial resources. After several months, Desktop prevailed in the litigation while reaching insolvency. Immediately following the Merger, the Company provided a $12.0 million bridge loan to Desktop Information related to the historical results of Desktop is not relevant to the Company’s future results as well as any pro forma presentation giving effect to the Merger since the Desktop assets have already been disposed of and were never reflected in the Company’s results for the period between the date of acquisition and the date of approval of the Insolvency Proceeding, in its consolidated statements of operations and comprehensive loss as discontinued operations and in related disclosures. The Company determined that the Desktop assets would be disposed of through a sale or other process on the acquisition date and pursued a plan to sell or otherwise dispose of the Desktop business throughout the fiscal quarter following the closing of the Merger. The Company also recorded impairment charges related to the Desktop assets and the costs associated with the bankruptcy and deconsolidation of Desktop in discontinued operations on the Company’s consolidated statements of operations and comprehensive loss following the closing of the Merger. The consolidated statements of operations and comprehensive loss includes impairment of the Desktop Metal asset group of $139.4 million and loss from operations for the period of acquisition through December 31, 2025 of $53.9 million, which are both included within net loss from discontinued operations of $193.3 million. The acquisition was funded through available cash. The portion of the fair-value-based measure of the replacement awards attributable to Desktop Metal employee service rendered prior to the acquisition date was $1.0 million and is recorded in additional paid in capital on the consolidated balance sheet. The fair value of consideration transferred is as follows:
The purchase price allocation for Desktop Metal was as follows:
The Company incurred acquisition-related costs of $11.9 million, of which $8.1 million was incurred in 2025 and $3.8 million in 2024. These costs consist primarily of legal and accounting fees and have been included in general and administrative costs within the consolidated statements of operations and comprehensive loss. Acquisition of Markforged Holding Corporation ("Markforged") On April 25, 2025, the Company acquired 100% of the shares and voting interests in Markforged Holding Corporation ("Markforged"), a U.S. based publicly traded company (NYSE: MKFG). Markforged designs, produces and markets cloud-based software products (including its software enabled platform the Digital Forge) and hardware products, including precise and reliable 3D printers, proprietary metal and composite materials to bring industrial production to the point of need on the factory floor. The acquisition of Markforged will enable the Company to access Markforged’s additive manufacturing technology, facilitating a broader, more integrated product portfolio. The acquisition was funded through available cash. The portion of the fair-value-based measure of the replacement awards attributable to Markforged employee service rendered prior to the acquisition date was $1.1 million and is recorded in additional paid in capital on the consolidated balance sheet. The fair value of consideration transferred is as follows:
The preliminary purchase price allocation for Markforged was as follows:
The goodwill resulting from this transaction is primarily attributable to the potential growth and expected synergies from combining operations and is not deductible for tax purposes. The definite-lived intangible assets acquired for Markforged were as follows:
The Company incurred acquisition-related costs of $3.8 million, of which $2.2 million was incurred in 2025 and $1.6 million in 2024. These costs consist primarily of legal and accounting fees and have been included in general and administrative costs within the consolidated statements of operations and comprehensive loss. The following selected unaudited pro forma consolidated results of operations are presented as if the Markforged acquisition had occurred as of the beginning of the period immediately preceding the period of acquisition.
These unaudited pro forma results of operations have been prepared for comparative purposes only, and they do not purport to be indicative of the results of operations that actually would have resulted had the acquisition occurred on the date indicated or that may result in the future. No effect has been given for synergies, if any, that may be realized through the acquisition. Divestitures From January 2025, we have discontinued a number of product lines, including, Fabrica, Admatec, Formatec, Formatec Holdings, DeepCube, and the AME online community platform (J.A.M.E.S.). The Company implemented a complete cost reduction program for the DeepCube and Nano Fabrica product lines. In April 2025, Admatec, Formatec, and Formatec Holdings were declared bankrupt. Additionally, in April 2025, J.A.M.E.S ceased operations. Loss on deconsolidation of subsidiaries represents the difference between proceeds received upon disposition and the book value of a subsidiary which has been divested and was excluded from treatment as a discontinued operation. Also included in loss on disposal of subsidiaries is recognition of the cumulative translation adjustment out of accumulated other comprehensive loss. The loss on deconsolidation of subsidiaries was $1.8 million related to Admatec-Formatec and a gain of $0.1 million related to J.A.M.E.S recorded to Restructuring for the year ended December 31, 2025. |
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Goodwill and Intangible Assets |
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| Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets | Note 7 – Goodwill and Intangible AssetsGoodwill The following table provides the carrying amount of the Company's goodwill:
Desktop Metal was acquired by the Company on April 2, 2025 and goodwill of $139.4 million was recorded. The Company determined that the Desktop Metal asset group qualified as 'assets held for disposal other than sale' on the acquisition date and fully impaired the asset group, including the goodwill carrying value of $139.4 million, to 'net loss from discontinued operations' on the consolidated statements of operations and comprehensive loss (see Note 8).
The Company tests the recorded amount of goodwill for impairment on an annual basis on October 1 or more frequently if there are indicators that the book value of each reporting unit exceeds its fair value. The Company has a single reporting segment. As of December 31, 2025, it was determined that the remaining goodwill balance, which is solely attributable to Markforged was not impaired. Intangible assets, net The following table displays intangible assets, net by major class:
The increase in intangible assets, net during 2025 is related to the acquisition of Markforged. See Note 8. Partially offsetting the increase was a $1.8 million impairment to legacy technology no longer being pursued, which is recorded in Impairment losses on the consolidated statements of operations and comprehensive loss. The Company recognized amortization expense of intangible assets as follows, including $0.3 million of amortization related to legacy technology prior to impairment on December 31, 2025:
Expected resulting revenue is the basis for the economic pattern used to determine the amortization schedule of technology and customer relationships. Trademark intangible amortization is based on the term in which the Company anticipates using the asset. Amortization related to technology and mutual licensing under a settlement agreement are recorded to cost of revenue on the consolidated statement of operations and comprehensive loss. Amortization related to trademarks and customer relationships are recorded in sales and marketing expense on the consolidated statements of operations and comprehensive loss. As of December 31, 2025, estimated amortization expense for intangible assets for each of the next five fiscal years and thereafter is expected to be as follows:
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| Accrued liabilities | Note 9 – Accrued liabilitiesAccrued liabilities consist of the following:
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| Equity | Note 10 – EquityShare capital activity was as follows (in thousands of shares of NIS 5 par value per share):
Treasury shares As of December 31, 2025, the Company held 72,494,637 ordinary shares, constituting approximately 26.0% of its issued and paid-in share capital. The rights attached to the Company’s own shares that were acquired are suspended until their re-issuance. In August 2023, the Company’s board of directors authorized a repurchase plan, or the $200 million Repurchase Plan, allowing us to invest up to $200 million to repurchase ADSs from time to time, in open market transactions, and/or in privately negotiated transactions or in any other legally permissible ways, depending on market conditions, share price, trading volume and other factors. The Israeli court approved the $200 million Repurchase Plan on October 17, 2023 for a twelve-month period. The $200 million Repurchase Plan expired on October 16, 2024, with $130,504,940 remaining, and thereafter no longer eligible for repurchases under such plan. All repurchases made in 2024 were made pursuant to the $200 million Repurchase Plan. In January 2025, the Company’s board of directors authorized a repurchase plan, or the $150 million Repurchase Plan, allowing it to invest up to $150 million to repurchase ADSs from time to time, in open market transactions, and/or in privately negotiated transactions or in any other legally permissible ways, depending on market conditions, share price, trading volume and other factors. During the year ended December 31, 2025, 14,424,452 shares were repurchased under the $150 million Repurchase Plan. Rights Plan In January 2024, the Company entered into a rights agreement, or the Rights Plan. The Rights Plan was designed to reduce the likelihood that any entity, person or group would gain control of, or significant influence over the Company. The Rights Plan expired on January 25, 2025. In February 2026, the Company entered into a rights agreement, or the Rights Plan. The Rights Plan was designed to reduce the likelihood that any entity, person or group would gain control of, or significant influence over the Company. The Rights Plan will expire on February 1, 2027. Stock Options, RSUs and Warrants The Company has in effect the Employee Stock Option Plan (2015) (the “2015 Plan”). The 2015 Plan was adopted by Company’s board of directors in February 2015, and expired in February 2026. On December 4, 2025, the shareholders of the Company approved a resolution to extend the 2015 Plan by an additional one-year period ending in February 2027. The Company’s employees, directors, officers, consultants, advisors, and suppliers are eligible to participate in this plan. On March 13, 2019, the Company’s board of directors adopted an appendix to the 2015 Plan for U.S. residents. Under this appendix, the 2015 Plan provides for the granting of options to U.S. residents in compliance with the U.S. Internal Revenue Code of 1986, as amended. As of December 31, 2025, the number of Ordinary Shares available for new equity awards under the plan was 33,488,762. RSUs and options to purchase Ordinary Shares of 6,520,368 were issued and outstanding as of such date. Of these outstanding awards, as of December 31, 2025, 228,334 options to purchase ordinary shares were vested and exercisable. Stock options In 2023, the Company granted a total of 130,000 non-tradable share options to employees, officers, and consultants, with varying vesting periods and exercise prices. No share options were granted during 2024 or 2025. The share options vest over a period of four years. The share options will be exercisable, in consideration of an exercise price, until the earlier of (a) the anniversary of the vesting date of such options, or (b) 90 days from the end of employment date. A summary of the Company’s stock option activity and related information is as follows:
The Company used the binomial pricing model to determine the estimated fair value of stock-based compensation related to stock options during the year ended December 31, 2023. In applying this model, the Company uses the following assumptions: • Risk-Free Interest Rate: The risk-free interest rate is based on government debentures with maturities similar to the expected term of the options for each option group. • Volatility: The Company utilizes the trading history of its Ordinary Shares to determine the expected stock price volatility for its Ordinary Shares. • Expected Term: The Company determined the expected term based on general option holder behavior and expected share price. • Expected Dividend Rate: The Company has not paid and does not anticipate paying any cash dividends in the near future on its Ordinary Shares. The table below summarizes the assumptions used in determining the fair value of the options granted in 2023:
The weighted average fair values at grant date of options granted for the year ended December 31, 2023 with an exercise price equal to the market value at the date of grant was $3.05 per share. The total intrinsic value of options exercised during the years ended December 31, 2025, 2024, and 2023 were $0.3 million, $1.4 million, and $2.7 million, respectively The weighted average remaining contractual life of the outstanding options is 2.6 years as of December 31, 2025. Restricted stock units (“RSU”) From 2023 to 2025, the Company granted a total of 23,850,187 RSUs to employees, officers, and consultants, with varying vesting periods. The RSUs vest over a period of one to four years. On April 22, 2021, the Company acquired 100% of the shares and voting interests in DeepCube. After the acquisition, one of DeepCube’s founders continued to work at DeepCube, in the role of Chief Technology Officer. In accordance with the terms of the acquisition agreement, 892,465 ordinary shares of the Company were to be issued to this founder, with a share price protection mechanism. The granting of these shares was subject to conditions related to the continued employment of the founder. Hence, these shares were not taken into account as part of the consideration for the business combination. The fair value of those shares, with the share price protection mechanism, was estimated at $7.8 million, and was recognized as post-acquisition compensation cost. With respect to these shares, the Company recorded expenses of $0.8 million in 2024 and $2.4 million in each of the years 2022 and 2023. During the years ended December 31, 2024 and 2023 the Company chose to settle the share price protection mechanism in cash, and therefore the cash paid in the amount of $0.4 million and $0.5 million, respectively, was treated as repurchase of equity awards that was reduced from equity. On April 26, 2021, the Company acquired 100% of the shares and voting interests in NanoFabrica. In accordance with the terms of the acquisition agreement, 1,178,008 ordinary shares of the Company were to be issued to NanoFabrica’s founders, with a share price protection mechanism. The granting of these shares was subject to conditions related to the continued employment of the founders for a period of two years following the acquisition. Hence, these shares were not taken into account as part of the consideration for the business combination. The fair value of those shares, with the share price protection mechanism, was estimated at $10.9 million, and were recognized as post-acquisition compensation cost. During 2023, the Company chose to settle the share price protection mechanism in cash, and therefore the cash paid in the amount of $3.9 million was treated as repurchase of equity awards that was reduced from equity. A summary of the Company’s RSU activity is as follows:
The weighted average fair values at grant date of RSUs granted for the years ended December 31, 2025, 2024, and 2023 were $1.61, $2.40, and $2.59 per share, respectively. The total fair value of shares vested during the years 2025, 2024, and 2023 was $8.3 million, $18.3 million, $32.3 million, respectively. As of December 31, 2025, the Company had approximately $8.5 million of unrecognized compensation expense related to non-vested stock options and non-vested RSU’s, expected to be recognized over a weighted average period of 1.6 years. Warrants A summary of the Company’s warrants activity and related information is as follows:
As of December 31, 2025, the outstanding warrants include 27,742,103 Series B warrants issued to Stern YOI Ltd. Partnership in August 2020 to purchase Ordinary Shares at an exercise price of $6.16 per ADS and expiring in August 2027. Stern YOI Ltd. Partnership is a Nevada limited partnership. Mr. Yoav Stern, former Chief Executive Officer of Nano Dimension Ltd., is a managing member of Stern YOI Ltd. Partnership. In September 2020, the Company issued 1,500,000 warrants to purchase 1,500,000 ADSs to the Company’s now former director, Mr. Yaron Eitan, in consideration of $150,000. The warrants have an exercise price of $2.25 per ADS and will expire in September 2027. Stock-Based Compensation Stock-based compensation expense related to stock options and RSUs is included in the consolidated statements of operations and comprehensive loss as follows:
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| Revenue from Contract with Customer [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue | Note 11 – RevenueThe Company has one operating and reportable segment, which generates revenue via industrial manufacturing solutions of multi-disciplinary technology - combining hardware, software, and materials science. Revenue per geographical location is as follows:
The following table disaggregates the Company's revenue by the timing of transfer of products or services:
The table below provides information regarding receivables and contract liabilities deriving from contracts with customers:
The increase in trade receivables and current and long-term contract liabilities in 2025 is primarily due to the acquisition of Markforged.
Contract balances
Timing of revenue recognition may differ from the timing of invoicing to customers. The Company has a right to bill when products are shipped, which is often the point in time revenue is recognized. As a result, the Company will have accounts receivable for billings and also deferred revenue for the portion of billings in advance of service in its hardware maintenance agreements.
The Company recognized $3.5 million of revenue in 2025 from deferred revenue as of December 31, 2024. The Company recognized $3.9 million of revenue in 2024 from deferred revenue as of December 31, 2023.
Deferred revenue is expected to be recognized when the Company provides hardware maintenance services or contractual performance obligations for which the customer has already provided payment with $11.9 million to be recognized in 2026, $2.5 million in 2027, $0.9 million in 2028, and $0.2 million thereafter. These deferred revenues are included within other long-term liabilities on the consolidated balance sheets. |
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Employee Benefit Plans |
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| Employee Benefit Plans | Note 12 – Employee Benefit Plans
Post-Employment Benefit Plan – Defined Benefit Obligation Essemtec, a subsidiary of the Company, located in Switzerland, participates in a defined benefit obligation plan. Employees in Switzerland are insured against the risks of old age, death and disability. The supreme governing body of the pension fund is the Foundation Council, which is made up of an equal number of representatives from the employees and the employer. The pension fund rules, together with the legal provisions concerning occupational pension plans, constitute the formal regulatory framework of the pension plan. During the year ended December 31, 2024, Essemtec was affiliated with the collective foundation Bâloise Collective BVG foundation. All benefits in accordance with the regulations are reinsured in their entirety with Bâloise within the framework of the corresponding contract. This pension solution reinsures the risks of disability, death and longevity with Bâloise. Bâloise invests the vested pension capital and provides a 100% capital and interest guarantee. This plan was not fully insured in the event of termination of the contract. Effective January 1, 2025, the Company changed the underlying pension plan from Baloise to Profond Vorsorgeeinrichtung ("Profond"). Profond does not provide a guarantee nor reinsure risks. The standard retirement age is 65 for women and men. Employees are entitled to early retirement with a reduced old-age pension. The amount of the old-age pension is the result of multiplying the individual retirement savings account at the time of retirement by a conversion rate set out in the pension-fund rules. The retirement benefits can also be paid out in the form of a capital payment either in full or in part. The amount of disability pensions is determined as a percentage of the insured salary and is independent of the number of years of service. The Company’s defined benefit obligations and the related defined benefit costs are determined at each balance sheet date by a qualified actuary using the Projected Unit Credit Method. The amount recognized in the consolidated balance sheet represents the present value of the projected benefit obligation reduced by the fair value of plan assets. Any surplus resulting from this calculation is limited to the present value of any economic benefits available in the form of refunds from the plans or reductions in future contributions to the plans. Plan assets As of December 31, 2025 and 2024, plan assets were $23.2 million and $17.9 million. As of December 31, 2025 the plan assets are accounted for at net asset value and at December 31, 2024, the plan assets are at fair value within Level 3 of the fair value hierarchy and included free funds and reserves such as fluctuation reserves and employer contribution reserves. For the year ended December 31, 2025, service costs of $0.9 million are included in the respective compensation cost caption, and interest costs of $0.3 million and on plan assets of $0.7 million are included in other (expense) income, net on the consolidated statement of operation and comprehensive income. The remeasurement of pension and postretirement benefit plan was $1.2 million as of December 31, 2025 within accumulated other comprehensive loss on the consolidated balance sheet. Net defined benefit assets (liabilities) and their components are as follows:
The defined benefit liability is attributed to the plans’ participants as follows: - Active members: 94% for both 2025 and 2024 - Pensioners: 6% for both 2025 and 2024 Actuarial Assumptions Principal actuarial assumptions at the reporting date (expressed as weighted averages):
Assumptions regarding future mortality are based on published statistics and mortality tables (BVG 2020 generational). Changes in actuarial gains and losses in the projected benefit obligation are generally driven by discount rate movement. We use the corridor approach to amortize actuarial gains and losses. Under this approach, net actuarial gains or losses in excess of 10% of the larger of the projected benefit obligation or the fair value of plan assets are amortized on a straight-line basis. Effect of the Plan on the Company’s Future Cash Flows The Company expects to pay approximately $0.7 million in contributions to the funded defined benefit plan in 2026. On December 31, 2025 the weighted-average duration of the defined benefit obligation was 15.5 years (2024: 15.2 years). Estimated future benefit payments during the next five years and in the aggregate for years 2026 through 2035 are as follows:
Termination liability In 2023 the Company’s board of directors approved, as part of a reorganization plan in several departments of the Company, an employment termination of Company employees worldwide, with preferable terms. In 2023, an expense related to payroll compensation due to this plan, in the amount of $2.1 million was recognized in Other (expense) income, net in the consolidated statements of operations and comprehensive loss. As of December 31, 2023 the remaining termination liability in the amount of $1.5 million was presented under other payables and was paid during 2024. |
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Leases |
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| Leases | Note 13 – LeasesInformation regarding the Company's material operating lease agreements is as follows: Vehicle leases The Company leases vehicles for approximately three-year periods from several different leasing companies and from time to time changes the number of leased vehicles according to its current needs. The leased vehicles are identified by means of license numbers and the vehicle’s registration, with the leasing companies not being able to switch vehicles, other than in cases of deficiencies. The leased vehicles are used by the Company’s headquarters staff, marketing and salespersons and other employees whose employment agreements include an obligation of the Company to put a vehicle at their disposal. Office leases The Company leases offices in Ness-Ziona, Israel for a contractual period of up to five years under a few different contracts for different floors used for offices, labs and manufacturing facilities. The contractual periods of the aforesaid lease agreements end in September 2026, November 2026 and July 2027. The Company also leases offices in Tel Aviv, Israel, for a contractual period of five years, which ends in March 2027, offices in Waltham, Massachusetts, U.S., for a contractual period of seven years, which ends in February 2029, in Munich, Germany for a contractual period of five years, which ends in December 2027 and, in Alkmaar and Goirle, Netherlands for a contractual period of and seven years, which end in April 2028 and April 2029, respectively. The lease payments in some of the Company’s leases in Israel and Germany are linked to the local consumer price indexes known on the lease’s date of inception. The Company exited their previous U.S. headquarters at 300 5th Avenue, Waltham, Massachusetts and sublet the facility leading to a non-cash, pre-tax and after-tax impairment charge of $1.5 million recorded in the second quarter of 2025. The Company partially impaired an abandoned portion of the Markforged 60 Tower headquarters in Waltham, Massachusetts resulting in a non-cash, pre-tax and after-tax impairment charge of $5.7 million related to the operating lease right-of-use (“ROU”) asset recorded in the third quarter of 2025. The Company is currently seeking a sublease for this space. The following summarizes information about the Company’s operating lease costs:
Future minimum lease payments under the Company's operating leases for each of the following five years and thereafter are as follows as of December 31, 2025, excluding short-term leases:
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Commitments and contingencies |
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| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and contingencies | Note 14 – Commitments and contingenciesFrom time to time, the Company may face legal claims or actions in the normal course of business. At each reporting date, the Company evaluates whether a potential loss amount or a potential range of loss is probable and reasonably estimable under the provisions of the authoritative guidance that address accounting for contingencies. The Company expenses the costs related to its legal proceedings as incurred. On September 20, 2024, Markforged entered into a settlement agreement with Continuous Composites related to previous litigation (the “Settlement Agreement”) to resolve all claims and counterclaims. Under the terms of the Settlement Agreement, Markforged made an initial upfront payment of $18 million to Continuous Composites on October 10, 2024, and is required to make three additional installment payments thereafter of $1 million, $2 million and $4 million in the fourth quarters of fiscal years 2025, 2026 and 2027, respectively. In consideration of such payments, the Settlement Agreement provides for a dismissal of all claims with prejudice, cross-licenses of the parties’ respective patent portfolios, a mutual release of claims for liabilities arising prior to the effective date of the Settlement Agreement and mutual covenants not to sue. The incremental amount due under the Settlement Agreement compared to the original verdict is determined to be representative of the amount attributable to the licensing of the patent rights contemplated under the Settlement Agreement and was recognized as an intangible asset of $5.5 million, after discount using a rate of 12%, to be amortized to cost of revenue over the 23 year life of the patents. Total amortization expense of $0.2 million was recognized from the period of acquisition through the year ended December 31, 2025, and included in cost of revenue. The Company paid $1.0 million during 2025 and the remaining future payments of $6.0 million under the Settlement Agreement as of December 31, 2025 are secured by the Security Agreement. The Company has recorded a settlement payable on the consolidated balance sheet of $5.0 million, of which $2.0 million is a current liability. The settlement payable will accrete $1.0 million over the remaining payment term recognized as interest expense. Interest expense related to settlement payable was $0.4 million for the period of acquisition through the year ended December 31, 2025. On July 8, 2025, Quinn Emanuel Urquhart & Sullivan, LLP (“Quinn”) filed a lawsuit against Nano Dimension Ltd. and Ofir Baharav (“Defendants”). Quinn alleges that Defendants tortiously interfered with Quinn’s contract with Desktop Metal, and prevented Desktop Metal from paying Quinn approximately $30.0 million. Quinn also asserts that Defendants are liable pursuant to an alleged attorney’s lien and engaged in unfair and deceptive practices, in violation of Massachusetts law. The case is pending in the Business Litigation Session of the Suffolk Superior Court in Massachusetts. Defendants moved to dismiss. That motion was fully briefed in February 2026, argued on March 16, 2026, and remains pending. During the third quarter of 2025, certain former employees or vendors of the Company or its subsidiaries filed lawsuits alleging that the Company is in breach of certain agreements and are entitled to certain compensation and other benefits. During the fourth quarter of 2025, the Company settled various matters for a total payment of $2.2 million. While other matters are still ongoing, the Company believes that it is probable that some amount of loss has been incurred and has accrued approximately $1.1 million during the fourth quarter of 2025 as an estimated probable loss which is included as part of general and administrative operating expenses. During the fourth quarter of 2025, Markforged processed a $1.4 million payment to an account believed to be controlled by one of our vendors, however it was subsequently discovered that this account was not owned by the vendor. The Company suspects that a threat actor gained access to a valid email account of the vendor and used this account to fraudulently change payment instructions. The Company has notified its insurance carrier and engaged breach counsel as well as a forensics partner to help with the investigation. Pending conclusion of the investigation, approximately $1.0 million has been accrued at December 31, 2025 as the estimated amount of probable loss which is included as part of general and administrative operating expenses. Royalties to the Israel Innovation Authority (“IIA”): Between the years 2014 to 2025, Nano Tech received several grants from the Israeli Innovation Authority (“IIA”), to finance development projects in an aggregate amount of up to $8.7 million, while the IIA share of financing the aforesaid amount was in a range of 30% to 85% of expenditures. As of December 31, 2025, Nano Tech received grants in the aggregate amount of $3.8 million. In consideration, Nano Tech undertook to pay the IIA royalties at the rate of 3% of the future sales up to the amount of the grants received. As of December 31, 2025, the maximum obligation with respect to the grants received from the IIA, contingent upon entitled future sales, is $2.2 million plus interest which may be increased, depending on the manufacturing volume that is performed outside Israel. |
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| Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax | Note 15 – Income TaxThe components of the Company’s loss before income taxes from continuing operations are as follows:
The components of income tax (benefit) expense from continuing operations are as follows:
The income tax benefit from continuing operations primarily relates to acquired deferred tax liabilities serving as a source of income to support recognition of certain existing deferred tax assets. The overall effective tax rate from continuing operations differs from the statutory Israel tax rate as follows:
A reconciliation of the provision for income taxes to the amount computed by applying the 23% Israel statutory income tax rate to income before income taxes for years prior to the adoption of ASU 2023-09 is as follows:
Significant components of the Company’s net deferred tax assets from continuing operations are as follows:
As of December 31, 2025, the Company had net operating loss (NOL) carryforwards of $1.2 billion, capital loss carryforwards of $89.3 million and credit carryforwards of $13.1 million from continuing operations, as follows:
The federal, state and foreign net operating loss and research and development credit carryforwards from continuing operations may be subject to a substantial annual limitation under Section 382 of the Internal Revenue Code of 1986, and similar state provisions, due to ownership change limitations that have occurred previously or that could occur in the future. These ownership changes may limit the amount of net operating loss and research and development credit carryforwards from continuing operations that can be utilized annually to offset future taxable income and tax, respectively. As of December 31, 2025, the Company has completed a 382 study for the Markforged, Inc. subsidiary, for ownership changes through April 25, 2025. Based on the Company's analysis, approximately $298.7 million of NOLs are subject to limitation, of which $15.0 million may expire unused. Approximately $7.9 million of R&D credits are subject to limitation, of which $7.9 million may expire unused. Uncertain tax positions represent tax positions for which income tax reserves have been established. The Company’s policy is to record interest and penalties related to uncertain tax positions as part of income tax expense. Reserves for uncertain tax positions from continuing operations as of December 31, 2025 are not material and would not impact the effective tax rate if recognized due to the valuation allowance maintained against the Company’s net deferred tax assets. The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal, state and foreign jurisdictions, where applicable. There are currently no pending income tax examinations. The Company is open to federal tax examination under statute from 2021 to present. The Company is open to tax examination in other jurisdictions from 2019 to present. Carryforward attributes from prior years may still be adjusted upon examination by federal, state and/or foreign tax authorities to the extent utilized in an open tax year or in future periods. As of December 31, 2025, the Company has not provided for deferred income taxes on unremitted earnings of its foreign subsidiaries from continuing operations since these earnings are indefinitely reinvested. Upon distribution of such earnings in the form of dividends or otherwise, the Company could be subject to taxes. The Company’s foreign unremitted earnings from continuing operations is not material and, as such, any taxes attributable to such unremitted earnings would not be material. The Company has evaluated the positive and negative evidence bearing upon the realizability of its deferred tax assets from continuing operations, which are primarily comprised of net operating losses, capital losses and research and development credits. Management has determined that it is more likely than not that the Company will not recognize the benefits of its federal, state and foreign deferred tax assets from continuing operations in excess of $0.3 million and, as a result, a valuation allowance of $284.1 million has been established at December 31, 2025. The following table presents the changes in the balance of the Company’s deferred income tax asset valuation allowance:
On July 4, 2025, the United States Congress enacted The One Big Beautiful Bill Act (the “OBBBA”) which includes several significant corporate provisions, including the restoration of 100% bonus depreciation; the immediate expensing of domestic research and experimentation expenditures; modifications to the Section 163(j) interest limitations; and updates to the rules for global intangible low-taxes income and foreign-derived intangible income. The Company recognized the impacts of the OBBBA provisions in our financial results to the extent they are applicable to the year ended December 31, 2025. Income Taxes – Discontinued Operations In July 2025, Desktop Metal, Inc., a subsidiary of Nano Dimension, filed for Chapter 11 bankruptcy protection. As a result, the Company has classified the operations of Desktop Metal as discontinued operations in its consolidated financial statements for the year ended December 31, 2025. Due to the ongoing bankruptcy proceedings, the Company has been challenged to obtain the most recent and complete financial data from Desktop Metal’s custodian. To adequately disclose the relevant tax consequences, management performed a sensitivity analysis using the preliminary and public information available from the bankruptcy process, including Desktop Metal’s estimated financial position and tax attributes. Based on this analysis, the Company concluded that the wind-down and disposal of the Desktop Metal business will not result in any material income tax consequences to Nano Dimension, and no cash taxes are expected to be payable by the Company in connection with these discontinued operations. In the year ended December 31, 2025, no significant income tax expense or benefit was recorded in the Company’s consolidated financial statements related to the discontinued operations of Desktop Metal, reflecting management’s determination that any potential tax impacts are not material. The Company will continue to monitor the resolution of Desktop Metal’s bankruptcy proceedings and will update its tax assessments in future periods if new information indicates a material change in this conclusion. |
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Segments |
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| Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segments | Note 16 – SegmentsOperating segments are defined as components of an entity for which separate financial information is available and regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources and in assessing performance. The Company’s CODM is its Chief Executive Officer. The CODM evaluates the Company’s financial information and resources and assesses the performance of these resources on a consolidated basis using adjusted EBITDA. Adjusted EBITDA is a non-GAAP measure defined as earnings before interest income and expense, income tax (benefit) expense, depreciation and amortization, share-based compensation expense, exchange rate differences, finance expenses (income) for revaluation of assets and liabilities, Desktop Metal litigation related expenses, Desktop Metal and Markforged transaction related expenses, restructuring costs, impact of deconsolidation, impairment losses, litigation settlements and contingencies and step-up amortization from purchase accounting. We believe that Adjusted EBITDA and operating expenses, as described above, should also be useful in evaluating the performance of our business. Like EBITDA, Adjusted EBITDA facilitates operating performance comparisons from period to period and company to company by backing out potential differences caused by variations in capital structures (affecting other financial expenses (income), net), and the age and depreciation charges and amortization of fixed and intangible assets, respectively (affecting relative depreciation and amortization expense, respectively), as well as from share-based payments, restructuring costs, impairment losses, and step-up amortization from purchase accounting. Adjusted EBITDA and operating expenses are useful to an investor in evaluating our operating performance because it is widely used by investors, securities analysts and other interested parties to measure a company’s operating performance without regard to non-cash items, such as expenses related to share-based payments. There is not any revenue, expense, or asset information, that is supplemental to those disclosed in these consolidated financial statements or below, that are regularly provided to the CODM for evaluation of the single operating segment. The adjusted EBITDA reconciliations for the years ended as of December 31, 2025, 2024, and 2023 are as follow:
(1) Net loss from continuing operations in corporate adjustments relate to those costs incurred at the parent company level, such as financing gains and losses, gains and losses on marketable securities, and corporate overhead costs inclusive of public company costs, legal, corporate headcount, and real estate related costs.
Revenue generated from customers within the Company’s country of domicile, Israel, amounted to $0.4 million, $0.2 million and $0.9 million for the years ended December 31, 2025, 2024, and 2023, respectively. Sales to external customers are made around the globe. Our Fused Filament Fiber product line primarily sells products and services in the United States. Location of sale is determined based on the shipping address. The Company’s long-lived assets, inclusive of right-of-use assets, are primarily located in the United States, where the Company’s headquarters and primary operations are now located, and Switzerland representing 66% and 18% of the balance as of December 31, 2025, respectively. The Company’s long-lived assets, inclusive of right-of-use assets, within the Company’s country of domicile, Israel, is 8% as of December 31, 2025. |
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Net Profit (Loss) Per Share |
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| Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Profit (Loss) Per Share | Note 17 – Net Profit (Loss) Per Share
The Company computes basic net profit (loss) per share using net profit (loss) attributable to the Company’s common shareholders and the weighted-average number of common shares outstanding during each period. Diluted earnings per share include shares issuable upon exercise of outstanding stock options and stock-based awards where the conversion of such instruments would be dilutive. The Company does this through the treasury stock method. The calculations presented below represent the basic and diluted net profit (loss) per share for all classes of securities.
For the years ended December 31, 2025, 2024 and 2023, the Company was in a net loss position, thus the effect of potentially dilutive securities was excluded from the denominator for the calculation of diluted net loss per share because the inclusion of such securities would be antidilutive. The following dilutive securities are excluded from the denominator:
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Subsequent Events |
12 Months Ended |
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Dec. 31, 2025 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Note 18 – Subsequent EventsIn February 2026, the Company entered into a rights agreement, or the Rights Plan. The Rights Plan was designed to reduce the likelihood that any entity, person or group would gain control of, or significant influence over the Company. The Rights Plan will expire on February 1, 2027. |
Summary of Significant Accounting Policies (Policies) |
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| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Principles of Consolidation | Principles of Consolidation The consolidated financial statements of the Company have been prepared in accordance with U.S. GAAP. All intercompany accounts and transactions have been eliminated in consolidation. |
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| Use of Estimates | Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Management’s significant estimates include: determination of the fair value of consideration transferred in an acquisition, estimated impairment of non-financial assets, impairment of long-lived assets, and estimation of legal contingencies. The Company prepares the estimates on the basis of past experiences, various facts, external circumstances, and reasonable assumptions according to the pertinent circumstances of each estimate. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. |
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| Segment Information | Segment Information The Company operates in one operating and reportable segment. Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker, who is the Company’s CEO, in deciding how to allocate resources and assessing performance. The Company’s chief operating decision maker allocates resources and assesses performance based upon discrete financial information at the consolidated level, see Note 16. |
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| Functional Currency | Functional Currency The Company’s functional currency is the U.S. dollar (“USD”). The USD is the currency that represents the principal economic environment in which the Company operates. Accordingly, foreign currency assets and liabilities are re-measured into USD at the end-of-period exchange rates except for non-monetary assets and liabilities, which are measured at historical exchange rates. Revenue and expenses are re-measured each day at the exchange rate in effect on the day the transaction occurred or the average exchange rate in the month in accordance with ASC 830, Foreign Currency Matters. Gains or losses from foreign currency exchange rate re-measurements and settlements are included in finance income and finance expense in the consolidated statements of operations and comprehensive loss and accumulated other comprehensive income (loss) on the consolidated balance sheets. The functional currency of certain subsidiaries and associated companies is their local currency. The financial statements of those companies are included in the consolidated financial statements, translated into USD. Assets and liabilities are translated at year-end exchange rates, while revenues and expenses are translated at the average exchange rates during the year. Differences resulting from translation are presented as other comprehensive income (loss) in the consolidated statements of operations and comprehensive loss, and are part of accumulated other comprehensive income (loss) on the consolidated balance sheets. |
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| Cash and Cash Equivalents | Cash and Cash Equivalents All highly liquid investments purchased with original maturities of three months or less are considered to be cash equivalents. |
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| Bank Deposits and Restricted Bank Deposits | Bank Deposits and Restricted Bank Deposits The Company has bank deposits that have a term of three to twelve months and bear a fixed interest rate of between 3.4%‑5.7%. In addition, the Company has restricted bank deposits for routine operations and the lease of its offices and labs. The restricted deposits are not linked and bear an annual interest rate of 0.01%‑4.4%. The Company expects to lease its offices and labs for a period of more than a year, thus these restricted bank deposits were classified as a non-current asset. |
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| Trade Receivables, Net | Trade Receivables, Net Trade receivables are recorded at the invoiced amount and do not bear interest. Credit losses are estimated for accounts receivable considered to be uncollectible based on management’s assessment of collectability, which considers specific customers’ abilities to meet their financial obligations, the length of time receivables are past due, and historical collection experience. If circumstances related to specific customers change, or economic conditions deteriorate such that past collection experience is no longer relevant, the Company’s estimate of the recoverability of accounts receivable could be further reduced from the levels provided for in the consolidated financial statements. |
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| Concentrations of Credit Risk | Concentrations of Credit Risk Financial instruments that subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, bank deposits, marketable equity securities, and trade receivables. The cash and marketable securities of the Company is deposited in Israeli, European and U.S. banking corporations. Two banking institutions each accounted for more than 10% of cash, cash equivalents and bank deposits as of December 31, 2025. In the estimation of the Company’s management, the credit risk for these financial instruments is low. For trade receivables, the Company is exposed to credit risk in the event of nonpayment by customers. Trade receivables are geographically diversified and derived primarily from sales in the United States, EMEA, and APAC. To manage its trade receivable risk, the Company evaluates the credit worthiness of its customers and maintains allowances for potential credit losses. The Company has not historically experienced any material credit losses related to individual customers or groups of customers in any specific area or industry. No single customer accounted for more than 10% of revenue in fiscal years 2025, 2024 or 2023. One customer accounted for more than 10% of trade receivables as of December 31, 2025, and no single customer accounted for more than 10% of trade receivables as of December 31, 2024. |
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| Fair Value Measurements | Fair Value Measurements The Company is required to provide information according to the fair value hierarchy based on the observability of the inputs used in the valuation techniques. The fair value hierarchy ranks the quality and reliability of the information used to determine fair values. Financial assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories: Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 - Unobservable inputs which are supported by little or no market activity. Financial instruments consist of cash equivalents, bank deposits, marketable securities, trade receivables, other receivables, trade payables, accrued liabilities, other current liabilities and derivative financial instruments. Derivative financial instruments are stated at fair value on a recurring basis. Cash equivalents, bank deposits, trade receivables, other receivables, trade payables, accrued liabilities and other current liabilities, are stated at their carrying value, which approximates their fair value due to the short time to the expected receipt or payment date. The Company measures investment in marketable equity securities at fair value on the consolidated statements of operations and comprehensive loss. As part of the Strategic Initiative, marketable equity securities have been classified as a current asset as of December 31, 2025 as the Company explores all strategic alternatives. The Company’s financial assets that are measured at fair value on a recurring basis by level within the fair value hierarchy are as follows:
There were no transfers between fair value levels during 2025 and 2024. |
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| Inventory | Inventory Inventory is stated at the lower of cost or net realizable value. Cost is based on a standard costing system which approximates the cost on a first in, first out method. The Company regularly reviews inventory for excess and obsolescence and records a provision to write down inventory to its net realizable value when carrying value is in excess of this value. The costs include materials, labor, and manufacturing overhead that relate to the acquisition of raw materials and production into finished goods. The net realizable value considers the ability to utilize the inventory prior to perishing as well as the estimated selling price and costs of completion and sale. Inventory on hand, product development plans, and sales forecasts are regularly reviewed to identify carrying values in excess of net realizable value. |
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| Property, Plant and Equipment, Net | Property, Plant and Equipment, Net Property, plant and equipment, net are carried at cost, including directly attributed acquisition costs, less accumulated depreciation and losses from accrued decrease in value, and are subject to review for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset group may not be recoverable. The cost of normal, recurring, or periodic repairs and maintenance activities related to property, plant and equipment is expensed as incurred. The cost of printers used for internal purposes includes the cost of materials and direct labor, and any other costs directly attributable to bringing the asset to a working condition for their intended use. The Company generally depreciates the cost of its property, plant and equipment using the straight-line method over the estimated useful lives of the respective assets as follows:
When the Company disposes of property, plant and equipment, it removes the associated cost and accumulated depreciation from the related accounts on its consolidated balance sheet and includes any resulting gain or loss within operating expenses on the accompanying consolidated statements of operations and comprehensive loss. |
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| Impairment of Long-Lived Assets | Impairment of Long-Lived Assets The Company evaluates whether events or circumstances have occurred that indicate that the estimated remaining useful life of its long-lived assets may warrant reassessment or that the carrying value of these assets may not be recoverable. When a triggering event is identified, management assesses the recoverability of the asset group, which is the lowest level where identifiable cash flows are largely independent, by comparing the expected undiscounted cash flows of the asset group to the carrying value. When the carrying value is not recoverable and an impairment is determined to exist, the asset group is written down to fair value. The Company exited certain leased facilities during fiscal year 2025 and has obtained, or is in the process of seeking, subleases for those properties. The Company recorded a non-cash, pre-tax and after-tax partial impairment charge of $5.7 million during the year ended December 31, 2025 related to the operating lease right-of-use (“ROU”) asset recorded for our headquarters at 60 Tower Road, Waltham, Massachusetts 02451 (“60 Tower”) within the impairment caption of the consolidated statements of operations and comprehensive loss. The impairment was determined by comparing the fair value of the impacted ROU asset to the carrying value of the asset as of the impairment measurement date, as required under ASC Topic 360, Property, Plant, and Equipment, using Level 2 inputs. The fair value of the ROU asset was based on the estimated sublease income for certain facilities taking into consideration the time period it will take to obtain a sublessor, the applicable discount rate and the sublease rate. We entered in to a sublease for our previous U.S. headquarters at 350 5th Ave in Waltham, Massachusetts during the year ended December 31, 2025 that resulted in impairment of $1.5 million, in addition we partially impaired our lease in Germany during the fourth quarter of 2025 in the amount of $0.3 million. The impairments are recorded within the impairment caption of the consolidated statements of operations and comprehensive loss. |
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| Business Combinations | Business Combinations The Company accounts for business combinations under the acquisition method of accounting. The Company allocates the amounts that it pays for each acquisition to the assets it acquires and liabilities it assumes based on their fair values at the date of acquisition. The excess of the value of consideration transferred over the aggregate fair value of those net assets is recorded as goodwill. Any identified definite lived intangible assets will be amortized over their estimated useful lives and any identified intangible assets with indefinite useful lives and goodwill will not be amortized but will be tested for impairment at least annually. When determining the fair value of assets acquired and liabilities assumed, management makes significant estimates and assumptions, including the selection of valuation methodologies, estimates of future revenues and cash flows, discount rates, especially with respect to intangible assets. The Company estimates fair value based upon assumptions that are believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company’s consolidated statements of operations and comprehensive loss. Acquisition-related transaction costs are not included as a component of consideration transferred but are accounted for as an expense in the period in which the costs are incurred. Any contingent consideration is measured at fair value at the date of acquisition. If an obligation to pay contingent consideration that meets the definition of a financial instrument is classified as equity, then it is not re-measured, and settlement is accounted for within equity. Otherwise, other contingent considerations are classified as a financial liability and re-measured at fair value at each reporting date, and subsequent changes in the fair value of the contingent consideration are recognized in the consolidated statements of operations and comprehensive loss. If share-based payment awards (“replacement awards”) are required to be exchanged for awards held by the acquiree’s employees (“acquiree’s awards”), then all or a portion of the amount of the acquirer’s replacement awards is included in measuring the consideration transferred in the business combination. This determination is based on the market-based measure of the replacement awards compared with the market-based measure of the acquiree’s awards and the extent to which the replacement awards relate to pre-combination service. |
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| Goodwill | Goodwill Goodwill represents the future economic benefits arising from other assets acquired in a business combination that is not individually identified and separately recorded. The excess of the purchase price over the estimated fair value of net assets of businesses acquired in a business combination is recognized as goodwill. Goodwill is not amortized but is tested for impairment annually at the start of the fourth quarter, or as circumstances indicate that the carrying value of the asset may not be recoverable through future operations. The Company reviews goodwill for impairment utilizing either a qualitative assessment or a quantitative goodwill impairment test. If we choose to perform a qualitative assessment and we determine that the fair value of the reporting unit more likely than not exceeds the carrying value, no further evaluation is necessary. When we perform the quantitative goodwill impairment test, we determine fair value using accepted valuation techniques, which can include the market and discounted cash flow methods. The fair value of the reporting unit is compared to the carrying value, which includes goodwill. If the fair value of the reporting unit exceeds its carrying value, we do not consider the goodwill impaired. If the carrying value is higher than the fair value, we recognize the difference as an impairment loss, limited to the total amount of goodwill. A quantitative goodwill impairment testing process requires valuation of the reporting unit. In the market approach, we can reference the Company’s market capitalization as a value indication given the Company’s single operating segment and reporting unit. In the income approach, which is based on a discounted forecasted cash flow including a terminal value, we compute the terminal value using the constant growth method, which values the forecasted cash flows in perpetuity. The assumptions about future cash flows and growth rates are based on the reporting unit's long-term forecast and is subject to review and approval by senior management. A reporting unit's discount rate is a significant assumption and is a risk-adjusted weighted average cost of capital, which we believe approximates the rate from a market participant's perspective. The estimated fair value could be impacted by changes in market conditions and various other assumptions, however we consider the discount rate assumption to be the key assumption. We categorize the fair value determination as Level 3 in the fair value hierarchy due to its use of internal projections and unobservable measurement inputs. The entirety of the goodwill carrying value related to the Desktop Metal acquisition was impaired and charged to discontinued operations along with all other net assets in the disposal group. As of October 1, 2025, it was determined that the remaining goodwill balance attributable to Markforged was not impaired. |
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| Intangible Assets | Intangible Assets Intangible assets consist of identifiable intangible assets acquired, specifically, developed technology, mutual licensing under a settlement agreement, trademarks, and customer relationships. The Company evaluates definite-lived intangible assets for impairment when events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable through future operations. If indicators of impairment are present, the Company then compares the estimated undiscounted cash flows that the specific asset is expected to generate to its carrying value. If such assets are impaired, the impairment recognized is measured as the amount by which the carrying amount of the asset exceeds its fair value. |
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| Warranty Reserve | Warranty Reserve Substantially all of the Company’s hardware products are covered by a standard assurance warranty of one year. In the event of a failure of a product covered by this warranty, the Company may repair or replace the product, at its option. The Company’s warranty reserve reflects estimated material and labor costs for potential or actual product issues for which the Company expects to incur an obligation. The Company periodically assesses the appropriateness of the warranty reserve and adjusts the amount as necessary. If the data used to calculate the appropriateness of the warranty reserve are not indicative of future requirements, additional or reduced warranty reserves may be necessary. Warranty reserves are included within accrued liabilities on the consolidated balance sheets. The following table presents changes in the balance of the Company’s warranty reserve:
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| Discontinued Operations | Discontinued Operations A component or group of components is classified as discontinued operations, (i) when it has been disposed of or meets the criteria to be classified as held for sale or disposal other than sale, and (ii) the disposal or intended disposal represents a strategic shift that has or is expected to have, a major effect on the Company’s operations and financial results. A discontinued operation includes components that comprise operations and cash flows that can be clearly distinguished from the Company’s continuing operations. As described in Note 8, Acquisitions and Divestures, the Company’s disposal of Desktop Metal met the criteria for classification as discontinued operations. Unless otherwise noted, discussions in the notes to the consolidated financial statements refers to the Company's continuing operations. |
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| Deconsolidation of Subsidiaries | Deconsolidation of Subsidiaries The Company accounts for a gain or loss on deconsolidation of subsidiaries or derecognition of a group of assets in accordance with ASC 810-10-40-5. The Company measures the gain or loss as the difference between (a) the aggregate of fair value of any consideration received, the fair value of any retained noncontrolling investment, and the carrying amount of any noncontrolling interest in the former subsidiary at the date the subsidiary is deconsolidated and (b) the carrying amount of the former subsidiary’s assets and liabilities or the carrying amount of the group of assets.
Loss on deconsolidation of subsidiaries represents the difference between proceeds received upon disposition and the book value of a subsidiary which has been divested and was excluded from treatment as a discontinued operation. Also included in loss on disposal of subsidiaries is the recognition of the cumulative translation adjustment associated with accumulated other comprehensive loss. The loss on deconsolidation of subsidiaries was $1.8 million related to Admatec-Formatec and a gain of $0.1 million related to J.A.M.E.S recorded to Restructuring on the consolidated statements of operations and comprehensive loss for the year ended December 31, 2025. |
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| Pension and Post-Employment Benefit Plans | Pension and Post-Employment Benefit Plans The Company’s liability for severance pay for its Israeli employees is mainly calculated pursuant to Israeli Severance Pay Law (1963) (the “Severance Pay Law”). The Company’s liability is covered by monthly deposits with severance pay funds and insurance policies. For most of the Company’s Israeli employees, the payments to pension funds and to insurance companies exempt the Company from any obligation towards its employees, in accordance with Section 14 of the Severance Pay Law, which is accounted for as a defined contribution plan. Accumulated amounts in pension funds and in insurance companies are not under the Company’s control and, accordingly, neither those amounts nor the corresponding accrual for severance pay are presented in the consolidated balance sheets. Post-employment benefits for Essemtec employees are treated as defined benefit plans. See Note 12. |
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| Revenue Recognition | Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC Topic 606”). Under ASC Topic 606, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration which the entity expects to be entitled to in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of the revenue recognition accounting standard, the Company performs the following five steps: • identifies the contract with a customer; • identifies the performance obligations in the contract; • determines the transaction price; • allocates the transaction price to the performance obligations in the contract; and • recognizes revenue when (or as) the entity satisfies a performance obligation. On the contract’s inception date, the Company assesses the goods or services promised in the contract with the customer and identifies as a performance obligation any promise to transfer to the customer goods or services (or a bundle of goods or services) that are distinct. The Company identifies goods or services promised to the customer as being distinct when the customer can benefit from the goods or services on their own or in conjunction with other readily available resources and the Company’s promise to transfer the goods or services to the customer is separately identifiable from other promises in the contract. The Company’s identified performance obligations include printer, ink, maintenance (which is generally provided for a period of up to one year), training and installation. In some cases, the Company recognizes a warranty as a distinct service to the customer and is, therefore, a distinct performance obligation. Revenue is allocated among performance obligations in a manner that reflects the consideration that the Company expects to be entitled to for the promised goods based on the standalone selling prices (“SSP”) of the goods or services of each performance obligation. If a SSP is not directly observable, the Company allocates the transaction price to the identified performance obligations based on the residual approach, while allocating the estimated SSP for performance obligations relating to maintenance, training and installation services, and the residual is allocated to printers. Revenue allocated to printers, installation and training, and ink and other consumables are recognized when the control is passed in accordance with the contract terms at a point in time. Maintenance revenue is recognized ratably, on a straight-line basis, over the period of the services. Revenue from training and installation is recognized at the time of performance. Revenue from development services is recognized only when the relevant contractual milestone is achieved, and recognition is contingent upon such achievement. Product revenue is generally recognized when the customer obtains control of the Company’s product, which occurs at a point in time, and may be upon shipment or upon delivery based on the contractual shipping terms of a contract. Service revenue is generally recognized over time as the services are delivered to the customer based on the extent of progress towards completion of the performance obligation. |
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| Research and Development Expenses | Research and Development Expenses Research and development costs, which consist primarily of salaries, share-based compensation expense, materials consumption and costs associated with subcontracting certain development efforts, are expensed as incurred. |
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| Governmental Grants | Governmental Grants The Company receives royalty-bearing grants from the Israeli government for approved research and development projects. These grants are recognized at the time the Company is entitled to such grants based on the costs incurred or milestones achieved as provided by the relevant agreement and included as a deduction from research and development. |
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| Sales and Marketing Expenses | Sales and Marketing Expenses Sales and marketing expenses consist primarily of salaries, share-based compensation expense, travel expenses, marketing and advertising services, depreciation, facilities costs, and other demand generation services. Advertising expenses for the years ended December 31, 2025, 2024 and 2023 were $2.2 million, $0.8 million, and $0.4 million, respectively and are expensed as incurred. |
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| Contingent Liabilities | Contingent Liabilities A provision is recorded when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. A provision for warranties is recognized when the underlying products or services are sold. The provision is based on historical warranty data and a weighting of all possible outcomes against their associated probabilities. A provision for legal claims is subject to subjective judgments, based on the status of such legal or regulatory proceedings, the merits of the Company’s defenses and consultation with corporate and external legal counsel. Actual outcomes may differ materially from the Company’s estimates. Legal costs associated with the proceedings are expensed as incurred. |
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| Share-Based Compensation | Share-Based Compensation Share-based compensation expense associated with share-based awards is recognized based on the fair value of the granted awards and is recorded as expense over the requisite service period for share options and restricted stock units (“RSUs”). For awards with graded vesting schedules that are solely based on a service condition, the Company elects the straight-line recognition method for the entire award. The Company recognizes forfeitures of awards as they occur. The fair value of each option award is calculated on the grant date using the Black-Scholes option-pricing model. Measurement inputs include the share price on the measurement date, the exercise price of the instrument, expected volatility (based on the weighted average volatility of the Company’s shares, over the expected term of the options), expected term of the options (based on general option holder behavior and expected share price), expected dividends, and the risk-free interest rate (based on government debentures). The assumptions used to determine the fair value of the share awards represent management’s best estimates. These estimates involve inherent uncertainties and the application of management’s judgment. The fair value of each RSU award is based on the market value of the underlying ordinary shares on the grant date. |
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| Leases | Leases Arrangements meeting the definition of a lease are classified as operating and are recorded on the consolidated balance sheet as both a lease right-of-use asset and lease right-of-use liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Lease right-of-use liabilities are increased by interest and reduced by payments each period, and the lease right-of-use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right-of-use asset result in straight-line rent expense over the lease term. Variable lease payments that depend on an index are measured using the index at the commencement date. Subsequent changes to the index or rate during the lease term are accounted for as variable payments which are recorded when incurred. In calculating the lease right-of-use asset and liability, the Company elects to combine lease and non-lease components. The Company excludes short-term leases having initial terms of 12 months or less as an accounting policy election and recognizes rent expense on a straight-line basis over the lease term. The Company has the option to extend some of its lease agreements. In measuring the lease right-of-use asset and liability, the Company only takes into account options to extend when it is reasonably certain that such options to extend will be exercised. The Company does not have any leases classified as finance leases. |
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| Income taxes | Income taxes The Company is subject to income taxes in Israel, and other foreign jurisdictions (such as the U.S., Switzerland, Germany, England and more). These foreign jurisdictions may have different statutory rates than in Israel. Income taxes are accounted for in accordance with ASC 740, Income Taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax basis as well as operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The financial effect of changes in tax laws or rates is accounted for in the period of enactment. Valuation allowance in respect of deferred tax assets is provided for, if necessary, to reduce deferred tax assets is amounts more likely than not to be realized. Taxes which would apply in the event of disposal of investment in foreign subsidiaries have not been considered in computing the deferred taxes, since the intention of the Company is to hold and not to realize the investment. The Company recognizes income tax benefits from uncertain tax positions only if it believes that it is more-likely-than-not that the tax position will be sustained upon examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such uncertain tax positions are then measured based on the largest benefit that is more-likely-than-not to be realized upon the ultimate settlement. Although the Company believes that it has adequately reserved for its uncertain tax positions, it can provide no assurance that the final tax outcome of these matters will not be materially different. The Company makes adjustments to these reserves when facts and circumstances change, such as the closing of a tax audit or the refinement of an estimate. To the extent that the final tax outcome of these matters is different from the amounts recorded, such differences will affect the provision for income taxes in the period in which such determination is made. The Company classifies interest and penalties on income taxes (which includes uncertain tax positions) as taxes on income. |
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| Treasury Shares | Treasury Shares The Company repurchases its shares from time to time in the open market, or in other transactions, and holds such repurchased shares as treasury shares. The Company presents the cost to repurchase treasury shares as a separate component within the consolidated balance sheets and is a reduction of shareholders’ equity. |
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| Basic and Diluted Loss Per Share | Basic and Diluted Loss Per Share Basic and diluted loss per share is calculated by dividing the net loss attributable to common shareholders by the weighted average number of common shares outstanding during the financial year, adjusted for shares issued during the year, if applicable. |
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| Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2023‑09 “Income Taxes (Topics 740): Improvements to Income Tax Disclosures”, which expands the disclosure requirements for income taxes, primarily related to the rate reconciliation and income taxes paid. This ASU is effective for fiscal years beginning after December 15, 2024. The Company's adoption of this standard in fiscal year 2025 did not have a material impact on its consolidated financial statements and related disclosures. |
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| Recently Issued Accounting Pronouncements Not Yet Adopted | Recently Issued Accounting Pronouncements Not Yet Adopted In November 2024, the FASB issued ASU No. 2024-03, "Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses." This ASU requires an entity to disclose the amounts of purchases of inventory, employee compensation, depreciation, and intangible asset amortization included in each relevant expense caption. It also requires an entity to include certain amounts that are already required to be disclosed under current GAAP in the same disclosure. Additionally, it requires an entity to disclose a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, and to disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. The amendments in the ASU are effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating this ASU to determine its impact on its disclosures in the consolidated financial statements. In December 2025, the FASB issued ASU-2025-10, "Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities" which establishes authoritative guidance on the accounting for government grants received by business entities. The guidance is effective for annual periods beginning after December 15, 2028, and interim reporting periods within those annual reporting periods, with early adoption permitted. The Company is currently evaluating the effect this standard will have on its consolidated financial statements and related disclosures. In December 2025, the FASB issued ASU 2025-11, "Interim Reporting (Topic 270): Narrow-Scope Improvements," which is intended to improve the navigability of the guidance in ASC 270 and clarify when it applies. Under the amendments, an entity is subject to ASC 270 if it provides interim financial statements and notes in accordance with GAAP. ASU 2025-11 also addresses the form and content of such financial statements, interim disclosures requirements, and establishes a principle under which an entity must disclose events since the end of the last annual reporting period that have a material impact on the entity. ASU 2025-11 is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027, and early adoption is permitted. The Company is currently assessing the impact ASU 2025-11 will have on the Company's interim consolidated financial statements. |
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Summary of Significant Accounting Policies (Tables) |
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| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Assets Measured at Fair Value on Recurring Basis | The Company’s financial assets that are measured at fair value on a recurring basis by level within the fair value hierarchy are as follows:
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| Schedule Of Property Plant and Equipment Estimated Useful Lives of the Respective Assets | The Company generally depreciates the cost of its property, plant and equipment using the straight-line method over the estimated useful lives of the respective assets as follows:
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| Schedule Of Company's Warranty Reserve | The following table presents changes in the balance of the Company’s warranty reserve:
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Other current assets (Tables) |
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| Receivables [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of other current assets | Other current assets consist of the following:
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Allowance for doubtful accounts (Tables) |
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| Disclosure Text Block [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of the activity of the Company's allowance for doubtful accounts | The following is a summary of the activity of the Company’s allowance for doubtful accounts:
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Inventory (Tables) |
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| Inventory Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Components of Inventories | Inventory consists of the following:
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Property, plant and equipment, net (Tables) |
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| Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Property, plant and equipment, net | The composition of property, plant and equipment, net is as follows:
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Goodwill and Intangible Assets (Tables) |
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Carrying Amount of the Company's Goodwill | The following table provides the carrying amount of the Company's goodwill:
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| Schedule of Intangible Assets | The following table displays intangible assets, net by major class:
|
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| Schedule of Amortization Expense | The Company recognized amortization expense of intangible assets as follows, including $0.3 million of amortization related to legacy technology prior to impairment on December 31, 2025:
|
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| Schedule of Amortization Expense for Intangible Assets | As of December 31, 2025, estimated amortization expense for intangible assets for each of the next five fiscal years and thereafter is expected to be as follows:
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Acquisitions and Divestitures (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Combination [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value of consideration | The fair value of consideration transferred is as follows:
|
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| Schedule Of Definite-lived Intangible Assets Acquired | The definite-lived intangible assets acquired for Markforged were as follows:
|
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| Schedule of Pro Forma Consolidated Results of Operations | The following selected unaudited pro forma consolidated results of operations are presented as if the Markforged acquisition had occurred as of the beginning of the period immediately preceding the period of acquisition.
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| Desktop Metal [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Combination [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Purchase Price Allocation | The purchase price allocation for Desktop Metal was as follows:
|
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| Markforged [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Combination [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Purchase Price Allocation | The preliminary purchase price allocation for Markforged was as follows:
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Accrued liabilities (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accrued Liabilities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Accrued liabilities | Accrued liabilities consist of the following:
|
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Equity (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Share Capital Activity | Share capital activity was as follows (in thousands of shares of NIS 5 par value per share):
|
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| Schedule of Stock Option Activity and Related Information | A summary of the Company’s stock option activity and related information is as follows:
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| Schedule of Fair Value of the Options Granted | The table below summarizes the assumptions used in determining the fair value of the options granted in 2023:
|
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| Schedule of Companies RSU Activity | A summary of the Company’s RSU activity is as follows:
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| Schedule of Companies Warrants Activity and Related Information | A summary of the Company’s warrants activity and related information is as follows:
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| Schedule of Stock Based Compensation Expense Related to Stock Options RSU and Warrants | Stock-based compensation expense related to stock options and RSUs is included in the consolidated statements of operations and comprehensive loss as follows:
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Revenue (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue from Contract with Customer [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Revenue per geographical location | Revenue per geographical location is as follows:
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| Schedule of Company's revenue by the timing of transfer | The following table disaggregates the Company's revenue by the timing of transfer of products or services:
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| Schedule of information regarding receivables and contract liabilities | The table below provides information regarding receivables and contract liabilities deriving from contracts with customers:
|
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Employee Benefit Plans (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retirement Benefits [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Net defined benefit liabilities (assets) and their components | Net defined benefit assets (liabilities) and their components are as follows:
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| Schedule of Principal actuarial assumptions at the reporting date | Principal actuarial assumptions at the reporting date (expressed as weighted averages):
|
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| Schedule of Expected Benefit Payments | Estimated future benefit payments during the next five years and in the aggregate for years 2026 through 2035 are as follows:
|
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Leases (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Quantitative Information About the Company's Operating Leases | The following summarizes information about the Company’s operating lease costs:
|
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| Schedule of Future Minimum Lease Payments Under The Company's Operating Leases | Future minimum lease payments under the Company's operating leases for each of the following five years and thereafter are as follows as of December 31, 2025, excluding short-term leases:
|
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Income Taxes (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Profit (Loss) before Income Tax | The components of the Company’s loss before income taxes from continuing operations are as follows:
|
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| Schedule of Loss Before Taxes | The components of income tax (benefit) expense from continuing operations are as follows:
|
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| Schedule of effective tax rate from continuing operations | The overall effective tax rate from continuing operations differs from the statutory Israel tax rate as follows:
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| Schedule of reconciliation of the corporation tax rate | A reconciliation of the provision for income taxes to the amount computed by applying the 23% Israel statutory income tax rate to income before income taxes for years prior to the adoption of ASU 2023-09 is as follows:
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| Schedule of Deferred Tax Assets | Significant components of the Company’s net deferred tax assets from continuing operations are as follows:
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| Summary of net operating loss (NOL) carryforwards | As of December 31, 2025, the Company had net operating loss (NOL) carryforwards of $1.2 billion, capital loss carryforwards of $89.3 million and credit carryforwards of $13.1 million from continuing operations, as follows:
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| Summary Of Valuation Allowance | The following table presents the changes in the balance of the Company’s deferred income tax asset valuation allowance:
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Segments (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Segment Reporting Information | The adjusted EBITDA reconciliations for the years ended as of December 31, 2025, 2024, and 2023 are as follow:
(1) Net loss from continuing operations in corporate adjustments relate to those costs incurred at the parent company level, such as financing gains and losses, gains and losses on marketable securities, and corporate overhead costs inclusive of public company costs, legal, corporate headcount, and real estate related costs.
|
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Net Profit (Loss) Per Share (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Basic and Diluted (Loss) Earnings per Share | The Company does this through the treasury stock method. The calculations presented below represent the basic and diluted net profit (loss) per share for all classes of securities.
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||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of dilutive securities excluded from the denominator | The following dilutive securities are excluded from the denominator:
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Summary of Significant Accounting Policies - Summary of Company's warranty reserve (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Warranty Reserve [Abstract] | ||
| Beginning Balance Warranty Reserve | $ 304 | $ 304 |
| Liability assumed from acquisition of Markforged | 670 | 0 |
| Additions to warranty reserve | 2,052 | 304 |
| Claims fulfilled | (1,717) | (304) |
| Ending Balance Warranty Reserve | $ 1,309 | $ 304 |
Allowance for doubtful accounts - Summary of the activity of the Company's allowance for doubtful accounts (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Valuation Allowance [Line Items] | ||
| Allowance for doubtful accounts, Beginning Balance | $ 811 | $ 660 |
| Provisions | 571 | 158 |
| Write-offs | (546) | 0 |
| Foreign currency adjustment | 25 | (7) |
| Allowance for Credit Loss, Ending Balance | $ 861 | $ 811 |
Other current assets - Schedule of Other Receivables (Details) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Receivables [Abstract] | ||
| Government authorities | $ 2,767 | $ 1,868 |
| Prepaid expenses | 4,363 | 1,402 |
| Other | 1,808 | 1,520 |
| Other current assets | $ 8,938 | $ 4,790 |
Inventory (Additional Information) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Inventory [Line Items] | |||
| Damaged inventory, write off | $ 5.0 | ||
| Other Income | $ 0.4 | $ 3.8 | |
| Inventory Valuation and Obsolescence [Member] | |||
| Inventory [Line Items] | |||
| Provision for excess and obsolete inventory | $ 6.5 | $ 2.8 | |
Inventory - Summary of Components of Inventories (Details) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Inventory [Line Items] | ||
| Raw materials | $ 10,659 | $ 8,982 |
| Work in progress | 3,803 | 1,739 |
| Finished goods | 18,416 | 6,178 |
| Inventory, Gross, Total | $ 32,878 | $ 16,899 |
Property, plant and equipment, net (Additional Information) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Property, Plant and Equipment [Abstract] | |||
| Depreciation expense | $ 4.3 | $ 2.6 | $ 2.0 |
| Impairment Losses Of Property Plant And Equipment | $ 1.2 | $ 1.3 | |
Goodwill and Intangible Assets - Schedule of Carrying Amount of the Company's Goodwill (Details) $ in Thousands |
12 Months Ended |
|---|---|
|
Dec. 31, 2025
USD ($)
| |
| Goodwill [Line Items] | |
| Goodwill | $ 0 |
| Goodwill | $ 40,388 |
| Desktop Metal [Member] | |
| Goodwill [Line Items] | |
| Goodwill, Impairment Loss, Statement of Income or Comprehensive Income [Extensible Enumeration] | Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest |
| Addition related to the acquisition | $ 139,400 |
| Impairment | (139,400) |
| Markforged [Member] | |
| Goodwill [Line Items] | |
| Addition related to the acquisition | $ 40,388 |
Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Finite-Lived Intangible Assets [Line Items] | ||
| Gross | $ 22,427 | $ 2,235 |
| Accumulated Amortization | (2,993) | (80) |
| Net | 19,434 | 2,155 |
| Technology [Member] | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Gross | 13,636 | 2,235 |
| Accumulated Amortization | (1,519) | (80) |
| Net | 12,117 | 2,155 |
| Mutual licensing under settlement agreement [Member] | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Gross | 5,320 | 0 |
| Accumulated Amortization | (156) | 0 |
| Net | 5,164 | 0 |
| Trademarks [Member] | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Gross | 1,811 | 0 |
| Accumulated Amortization | (1,207) | 0 |
| Net | 604 | 0 |
| Customer Relationships [Member] | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Gross | 1,660 | 0 |
| Accumulated Amortization | (111) | 0 |
| Net | $ 1,549 | $ 0 |
Goodwill and Intangible Assets - Schedule of Amortization Expense (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Goodwill and Intangible Assets Disclosure [Abstract] | |||
| Cost of revenue | $ 1,837 | $ 80 | $ 0 |
| Operating Expenses | 1,318 | 0 | 0 |
| Total | $ 3,155 | $ 80 | $ 0 |
Goodwill and Intangible Assets - Schedule of Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Goodwill and Intangible Assets Disclosure [Abstract] | ||
| 2026 | $ 3,276 | |
| 2027 | 2,673 | |
| 2028 | 2,673 | |
| 2029 | 2,673 | |
| 2030 | 2,673 | |
| Thereafter | 5,466 | |
| Total intangible assets, net | $ 19,434 | $ 2,155 |
Goodwill and Intangible Assets (Additional Information) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Apr. 25, 2025 |
Apr. 02, 2025 |
|
| Goodwill [Line Items] | |||||
| Goodwill | $ 40,388 | $ 0 | $ 40,400 | ||
| Amortization expense | 3,155 | $ 80 | $ 0 | ||
| Legacy Technology [Member] | |||||
| Goodwill [Line Items] | |||||
| Impairment | 1,800 | ||||
| Amortization expense | 300 | ||||
| Markforged [Member] | |||||
| Goodwill [Line Items] | |||||
| Goodwill | $ 40,388 | ||||
| Desktop Metal [Member] | |||||
| Goodwill [Line Items] | |||||
| Goodwill | $ 139,400 | ||||
| Impairment | $ 139,400 | ||||
Acquisitions and Divestitures - The fair value of consideration transferred (Details) $ in Thousands |
12 Months Ended |
|---|---|
|
Dec. 31, 2025
USD ($)
| |
| Desktop Metal [Member] | |
| Business Combination [Line Items] | |
| Cash consideration | $ 179,380 |
| Fair value of equity awards allocated to pre-acquisition period | 957 |
| Total acquisition consideration | 180,337 |
| Markforged [Member] | |
| Business Combination [Line Items] | |
| Cash consideration | 115,080 |
| Fair value of equity awards allocated to pre-acquisition period | 1,096 |
| Total acquisition consideration | $ 116,176 |
Acquisitions and Divestitures - Schedule of Net loss from discontinued operations on the consolidated statements of operations (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Business Combination [Line Items] | |||
| Net loss from discontinued operations, net of income tax of nil | $ (193,263) | $ 0 | $ 0 |
| Desktop Metal [Member] | |||
| Business Combination [Line Items] | |||
| Net loss from discontinued operations, net of income tax of nil | $ (193,300) | ||
Acquisitions and Divestitures - Schedule of Pro Forma Consolidated Results of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Business Combination, Pro Forma Information [Line Items] | |||
| Net Loss per share - basic | $ (1.36) | $ (0.45) | $ (0.23) |
| Net Loss per share - diluted | $ (1.36) | $ (0.45) | $ (0.23) |
| Markforged [Member] | |||
| Business Combination, Pro Forma Information [Line Items] | |||
| Revenue | $ 122,167 | $ 142,865 | |
| Net loss attributable to common shareholders | $ (335,260) | $ (189,049) | |
| Net Loss per share - basic | $ (1.55) | $ (0.87) | |
| Net Loss per share - diluted | $ (1.55) | $ (0.87) | |
Accrued liabilities - Summary of Accrued liabilities (Details) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Line of Credit Facility [Line Items] | ||
| Employees and related liabilities | $ 7,589 | $ 9,918 |
| Professional services | 2,209 | 2,381 |
| Government authorities | 2,870 | 3,130 |
| Contingencies | 2,123 | 0 |
| Current portion of settlement payable | 2,000 | 0 |
| Other | 2,723 | 3,342 |
| Accrued Liabilities | $ 19,514 | $ 18,771 |
Equity - Schedule of Share Capital Activity (Details) - NIS [Member] - shares |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Class of Stock [Line Items] | ||
| Shares outstanding as of January 1 | 215,777,000 | 235,597,000 |
| Repurchase of treasury shares | (14,424,000) | (26,043,000) |
| Exercise of warrants during the period | 0 | 3,000 |
| Exercise of share options and RSUs during the period | 5,459,000 | 6,220,000 |
| Shares outstanding as of December 31 | 206,811,875 | 215,777,000 |
Equity - Schedule of Fair Value of the Options Granted (Details) |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Class of Stock [Line Items] | |
| Range of expected share price volatility, minimum | 103.20% |
| Range of expected share price volatility, maximum | 121.85% |
| Range of weighted average of risk-free interest rate, minimum | 4.33% |
| Range of weighted average of risk-free interest rate, maximum | 4.50% |
| Expected dividend yield | 0.00% |
| Maximum | |
| Class of Stock [Line Items] | |
| Range of estimated life (years) | 8 years |
| Minimum | |
| Class of Stock [Line Items] | |
| Range of estimated life (years) | 4 years 6 months |
Equity - Schedule of Companies RSU Activity (Details) - $ / shares |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Class of Stock [Line Items] | |||
| Number of Units Granted | 0 | ||
| Restricted Stock Units (RSU) | |||
| Class of Stock [Line Items] | |||
| Outstanding on December 31, 2024 | 10,893,388 | ||
| Number of Units Granted | 12,195,051 | ||
| Number of options Vested | (5,135,973) | ||
| Number of Units Forfeited | (11,730,432) | ||
| Outstanding on December 31, 2025 | 6,222,034 | 10,893,388 | |
| Weighted average grant price Outstanding on December 31, 2024 | $ 2.75 | ||
| Weighted average grant price Granted | 1.61 | $ 2.4 | $ 2.59 |
| Weighted average grant price Vested | 1.68 | ||
| Weighted average grant price Forfeited | 1.89 | ||
| Weighted average grant price Outstanding on December 31, 2025 | $ 1.86 | $ 2.75 | |
Equity - Schedule of Stock Based Compensation Expense Related to Stock Options RSU and Warrants (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Class of Stock [Line Items] | |||
| Stock based compensation expense | $ 5,859 | $ 15,721 | $ 22,110 |
| Cost of revenues | |||
| Class of Stock [Line Items] | |||
| Stock based compensation expense | 669 | 938 | 811 |
| Research and development expenses | |||
| Class of Stock [Line Items] | |||
| Stock based compensation expense | 1,708 | 6,079 | 10,297 |
| Sales and marketing expenses | |||
| Class of Stock [Line Items] | |||
| Stock based compensation expense | 896 | 1,649 | 4,891 |
| General and administrative expenses | |||
| Class of Stock [Line Items] | |||
| Stock based compensation expense | 1,647 | 7,055 | 6,111 |
| Discontinued operations | |||
| Class of Stock [Line Items] | |||
| Stock based compensation expense | $ 939 | $ 0 | $ 0 |
Revenue - Schedule of Revenue per geographical location (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 102,437 | $ 57,775 | $ 56,314 |
| Americas [Member] | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 44,954 | 21,010 | 22,340 |
| APAC [Member] | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 16,743 | 3,393 | 2,947 |
| EMEA [Member] | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 40,740 | $ 33,372 | $ 31,027 |
Revenue - Schedule of Company's revenue by the timing of transfer (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 102,437 | $ 57,775 | $ 56,314 |
| Services transferred over time [Member] | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | 22,052 | 12,218 | 9,083 |
| Goods transferred at a point in time [Member] | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenue | $ 80,385 | $ 45,557 | $ 47,231 |
Revenue - Schedule of information regarding receivables and contract liabilities (Details) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Revenue from Contract with Customer [Abstract] | ||
| Trade receivables | $ 26,047 | $ 9,141 |
| Deferred revenue | 11,873 | 3,523 |
| Long-term deferred revenue | $ 3,617 | $ 0 |
Revenue (Additional Information) (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Revenue from Contract with Customer [Abstract] | ||
| Revenue recognized from deferred revenue | $ 3.5 | $ 3.9 |
| Deferred revenue expected recognized in 2026 | 11.9 | |
| Deferred revenue expected recognized in 2027 | 2.5 | |
| Deferred revenue expected recognized in 2028 | 0.9 | |
| Deferred revenue expected recognized in thereafter | $ 0.2 | |
Employee Benefit Plans - Schedule of fair value of the plan assets by asset category (Details) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|---|
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of the plan assets | $ 23,164 | $ 17,908 | $ 17,109 |
Employee Benefit Plans - Schedule of Principal actuarial assumptions at the reporting date (Details) |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Defined Contribution Plan Disclosure [Line Items] | ||
| Discount rate | 1.20% | 0.85% |
| Future salary growth | 1.00% | 1.00% |
| Interest rate on the savings account | 2.00% | 1.25% |
| Price inflation | 0.75% | 1.00% |
| Social security increase | 1.00% | 1.00% |
| Future pension growth | 0.00% | 0.00% |
Employee Benefit Plans - Schedule of Estimated future benefit payments during the next five years (Details) - Fair Value, Inputs, Level 1 [Member] $ in Thousands |
Dec. 31, 2025
USD ($)
|
|---|---|
| Defined Benefit Plan Disclosure [Line Items] | |
| 2026 | $ 1,221 |
| 2027 | 1,012 |
| 2028 | 1,618 |
| 2029 | 1,424 |
| 2030 | 777 |
| 2031-2035 | $ 5,662 |
Leases - Summarizes Quantitative Information About the Company's Operating Leases (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Leases [Abstract] | |||
| Operating lease costs | $ 5,729 | $ 4,455 | $ 4,809 |
| Variable lease costs | 2,235 | 249 | 268 |
| Finance expense (income) | 75 | (220) | 0 |
| Total | $ 8,039 | $ 4,484 | $ 5,077 |
Leases - Summarizes Quantitative Information About the Company's Operating Leases (Details1) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Leases [Abstract] | |||
| Operating cash flows for operating leases | $ 7,682 | $ 4,524 | $ 4,823 |
| Weighted average remaining lease term | 5 years 2 months 12 days | 3 years 1 month 6 days | 4 years |
| Weighted average discount rate | 6.90% | 6.90% | 6.90% |
Leases - Future Minimum Lease Payments Under the Company's Operating Leases (Details) $ in Thousands |
Dec. 31, 2025
USD ($)
|
|---|---|
| Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract] | |
| Year ended December 31, 2026 | $ 9,131 |
| Year ended December 31, 2027 | 8,427 |
| Year ended December 31, 2028 | 7,463 |
| Year ended December 31, 2029 | 6,526 |
| Year ended December 31, 2030 | 5,732 |
| Thereafter | 4,375 |
| Total future lease payments | 41,654 |
| Less: Present value discount | (9,408) |
| Minimum lease payments | $ 32,246 |
Income Taxes - Schedule of Profit (Loss) before Income Tax (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Loss before income taxes: | |||
| Domestic | $ (15,325) | $ (83,768) | $ (45,319) |
| Foreign | (92,232) | (15,693) | (11,694) |
| Total | $ (107,557) | $ (99,461) | $ (57,013) |
Income Taxes - Components of income tax (benefit) expense from continuing operations (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Income Tax Disclosure [Abstract] | |||
| Federal | $ 3 | $ 0 | $ 0 |
| State | 0 | 0 | 0 |
| Foreign | 46 | 397 | 73 |
| Total current expense | 49 | 397 | 73 |
| Federal | 0 | (0) | 0 |
| State | 0 | (0) | 0 |
| Foreign | (7,251) | 0 | (11) |
| Total deferred benefit | (7,251) | (0) | (11) |
| Total income tax benefit | $ 7,202 | $ (397) | $ (62) |
Income Taxes - Schedule of reconciliation of the corporation tax rate (Details) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Income Tax Disclosure [Abstract] | |||
| Statutory tax rate in Israel | 23.00% | 23.00% | 23.00% |
| Nontaxable or nondeductible items, Percentage | (0.10%) | (4.00%) | (9.00%) |
| Change in valuation allowance | (3.20%) | (19.00%) | (14.00%) |
| Effective tax rate, Percentage | 6.70% | 0.00% | 0.00% |
Income Taxes - Schedule of Deferred Tax Assets And Liabilities (Details) - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Deferred Tax Assets | ||
| Lease liability | $ 7,005 | $ 0 |
| Research and development expenditures | 3,908 | 6,464 |
| Stock compensation | 398 | 0 |
| Reserves | 1,369 | 0 |
| Deferred revenue | 177 | 0 |
| Accrued expenses | 371 | 436 |
| Amortization | 1,655 | 0 |
| Inventory reserves | 553 | 0 |
| Interest | 103 | 0 |
| Long term settlement payable | 1,051 | 0 |
| Litigation expenses | 114 | 0 |
| Unrealized losses on securities | 21,460 | 21,065 |
| Net operating losses | 224,827 | 93,628 |
| Capital losses | 20,550 | 0 |
| Research and development credits | 11,751 | 0 |
| Research and development credits | 7,900 | |
| Other credits | 387 | 0 |
| Gross deferred tax assets | 295,679 | 121,593 |
| Less: Valuation allowance | (284,063) | (121,593) |
| Deferred tax liabilities | ||
| Right-of-use assets | (5,073) | 0 |
| Deferred expenses | (122) | 0 |
| Acquired intangible assets | (3,611) | 0 |
| Other assets - license | (1,016) | (0) |
| Depreciation | (1,370) | (0) |
| Net deferred tax assets | $ 424 | $ (0) |
Income Taxes (Additional Information) (Details) - USD ($) $ in Thousands |
12 Months Ended | |||
|---|---|---|---|---|
Jul. 04, 2025 |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Effective Income Tax Rate Reconciliation [Line Items] | ||||
| U.S. federal statutory tax rate | 23.00% | 23.00% | 23.00% | |
| Net operating loss carryforwards | $ 1,200,000 | |||
| Operating Loss Carryforwards, Subject to limitation | 298,700 | |||
| Operating Loss Carryforwards, Subject to Expiration | 15,000 | |||
| Capital loss carryforwards | 89,300 | |||
| credit carryforwards | 13,100 | |||
| Research and development credits | 7,900 | |||
| Tax Credit Carryforwards R & D subject to expire unused | 7,900 | |||
| Deferred Federal, State and Local, Tax Expense (Benefit), Total | 300 | |||
| Total deferred benefit | (7,251) | $ (0) | $ (11) | |
| Valuation Allowance | 284,063 | $ 121,593 | ||
| Income Tax Rate Reconciliation Change In Enacted Tax Rate | 100.00% | |||
| Valuation Allowance | $ 284,100 | |||
Income Tax - Deferred Income Tax Asset Valuation Allowance From Continuing Operations: (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Income Tax Disclosure [Abstract] | ||
| Balance at beginning of year | $ 121,593 | $ 85,972 |
| Additions due to expense | 49,089 | 35,621 |
| Additions due to acquisitions and other | 113,381 | |
| Balance at end of year | $ 284,063 | $ 121,593 |
Segments (Additional Information) (Details) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2025
USD ($)
Segment
|
Dec. 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
|
| Segment Reporting Information [Line Items] | |||
| Number of Reportable Segments | Segment | 1 | ||
| Israel [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Long-lived assets percentage | 8.00% | ||
| Revenue | $ | $ 0.4 | $ 0.2 | $ 0.9 |
| Switzerland [Member] | Minimum [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Long-lived assets percentage | 18.00% | ||
| Switzerland [Member] | Maximum [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Long-lived assets percentage | 66.00% | ||
Net Profit (Loss) Per Share - Computation of Basic and Diluted (Loss) Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Earnings Per Share [Abstract] | |||
| Net loss from continuing operations | $ (100,355) | $ (99,858) | $ (57,075) |
| Net loss from discontinued operations | (193,263) | 0 | 0 |
| Less: Net loss attributable to non-controlling interests | (323) | (1,029) | (1,110) |
| Net loss attributable to common shareholders | $ (293,295) | $ (98,829) | $ (55,965) |
| Denominator: | |||
| Weighted-average shares outstanding - Basic | 215,742 | 218,311 | 248,019 |
| Add: Weighted average unvested options and warrants outstanding | 0 | 0 | 0 |
| Add: Dilutive effect of restricted units issued | 0 | 0 | 0 |
| Weighted-average shares outstanding - Diluted | 215,742 | 218,311 | 248,019 |
| Net loss per common share: | |||
| Continuing operations attributable to common shareholders_Basic | $ (0.46) | $ (0.45) | $ (0.23) |
| Continuing operations attributable to common shareholders_ Diluted | (0.46) | (0.45) | (0.23) |
| Discontinued operations - basic | (0.9) | 0 | 0 |
| Discontinued operations - diluted | (0.9) | 0 | 0 |
| Net loss attributable to common shareholders_Basic | (1.36) | (0.45) | (0.23) |
| Net loss attributable to common shareholders_Diluted | $ (1.36) | $ (0.45) | $ (0.23) |
Net Profit (Loss) Per Share - Schedule of dilutive securities excluded from the denominator (Details) - shares |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
| Antidilutive Securities Earnings Per Share Amount | 35,762,471 | 48,338,109 | 52,973,543 |
| Unvested or unexercised option awards | |||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
| Antidilutive Securities Earnings Per Share Amount | 298,334 | 2,627,095 | 4,039,537 |
| Unvested RSUs | |||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
| Antidilutive Securities Earnings Per Share Amount | 6,222,034 | 10,893,388 | 12,468,235 |
| Warrants | |||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
| Antidilutive Securities Earnings Per Share Amount | 29,242,103 | 34,817,626 | 36,465,771 |