NANO DIMENSION LTD., 20-F filed on 3/11/2021
Annual and Transition Report (foreign private issuer)
v3.20.4
Document And Entity Information
 12 Months Ended
Dec. 31, 2020
shares
Document Information Line Items  
Entity Registrant Name Nano Dimension Ltd.
Document Type 20-F
Current Fiscal Year End Date --12-31
Entity Common Stock, Shares Outstanding 172,063,020
Amendment Flag false
Entity Central Index Key 0001643303
Entity Current Reporting Status Yes
Entity Voluntary Filers No
Entity Filer Category Non-accelerated Filer
Entity Well-known Seasoned Issuer No
Document Period End Date Dec. 31, 2020
Document Fiscal Year Focus 2020
Document Fiscal Period Focus FY
Entity Emerging Growth Company true
Entity Shell Company false
Entity Ex Transition Period false
Document Annual Report true
Document Shell Company Report false
Document Transition Report false
Entity Incorporation, State or Country Code L3
Entity Interactive Data Current Yes
v3.20.4
Consolidated Statements of Financial Position - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Assets    
Cash $ 585,338 $ 3,894
Bank deposits 85,596
Restricted deposits 62 31
Trade receivables 713 1,816
Other receivables 1,126 570
Inventory 3,314 3,543
Total current assets 676,149 9,854
Restricted deposits 406 377
Property plant and equipment, net 5,092 4,743
Right of use assets 3,169 2,673
Intangible assets 4,440 5,211
Total non-current assets 13,107 13,004
Total assets 689,256 22,858
Liabilities    
Trade payables 776 850
Other payables 5,910 3,575
Total current liabilities 6,686 4,425
Liability in respect of government grants 850 1,044
Lease liability 2,618 2,089
Liability in respect of warrants 11,986 3,698
Total non-current liabilities 15,454 6,831
Total liabilities 22,140 11,256
Equity    
Share capital 257,225 6,441
Share premium and capital reserves 518,426 65,202
Treasury shares (1,509) (1,509)
Presentation currency translation reserve 1,431 1,431
Accumulated loss (108,457) (59,963)
Total equity 667,116 11,602
Total liabilities and equity $ 689,256 $ 22,858
v3.20.4
Consolidated Statements of Profit or Loss and Other Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Profit or loss [abstract]      
Revenues $ 3,399 $ 7,070 $ 5,100
Cost of revenues 1,563 4,312 3,594
Cost of revenues - amortization of intangible 771 772 772
Total cost of revenues 2,334 5,084 4,366
Gross profit 1,065 1,986 734
Research and development expenses, net 9,878 8,082 8,623
Sales and marketing expenses 6,597 5,469 4,259
General and administrative expenses 20,287 3,270 3,002
Operating loss (35,697) (14,835) (15,150)
Finance income 446 8,765 54
Finance expense 13,243 2,283 392
Total comprehensive loss $ (48,494) $ (8,353) $ (15,488)
Basic and diluted loss per share (USD) (after 1:50 reverse split effective June 29, 2020, see also note 11A) (in Dollars per share) $ (1.13) $ (2.38) $ (8.40)
v3.20.4
Consolidated Statements of Changes in Equity - USD ($)
$ in Thousands
Share capital
Share premium and capital reserves
Treasury shares
Presentation currency translation reserve
Accumulated loss
Total
Balance at beginning at Dec. 31, 2017 $ 2,307 $ 52,059 $ (1,509) $ 1,431 $ (36,122) $ 18,166
Loss for the year (15,488) (15,488)
Issuance of Ordinary Shares, net 981 11,490 12,471
Exercise of warrants and options 3 (3)
Share-based payments 423 423
Balance at ending at Dec. 31, 2018 3,291 63,969 (1,509) 1,431 (51,610) 15,572
Loss for the year (8,353) (8,353)
Issuance of Ordinary Shares, net 2,216 (633) 1,583
Exercise of warrants, options and conversion of convertible notes 934 1,421 2,355
Share-based payments 445 445
Balance at ending at Dec. 31, 2019 6,441 65,202 (1,509) 1,431 (59,963) 11,602
Loss for the year     (48,494) (48,494)
Issuance of Ordinary Shares, net 244,511 405,604 650,115
Exercise of warrants, options and conversion of convertible notes 6,273 1,450 7,723
Share-based payments 46,170 46,170
Balance at ending at Dec. 31, 2020 $ 257,225 $ 518,426 $ (1,509) $ 1,431 $ (108,457) $ 667,116
v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flow from operating activities:      
Net loss $ (48,494) $ (8,353) $ (15,488)
Depreciation 2,658 2,666 1,943
Financing expenses (income), net (60) 2,035 412
Revaluation of financial liabilities accounted at fair value 12,825 (8,707)
Loss from disposal of property plant and equipment 18 537
Share-based payments 20,501 439 402
Profit loss 35,924 (3,549) 3,294
Changes in assets and liabilities:      
Decrease (increase) in inventory 229 (442) (1,410)
Decrease (increase) in other receivables (556) 13
Decrease (increase) in trade receivables 1,103 (503) (1,219)
Increase in other payables 2,247 718 287
Increase (decrease) in trade payables (99) (555) 1,134
Decrease in other long-term liabilities (58)
Changes in assets and liabilities 2,924 (782) (1,253)
Net cash used in operating activities (9,646) (12,684) (13,447)
Cash flow from investing activities:      
Investment in bank deposits (85,500)
Interest received 152    
Change in restricted bank deposits (60) (40) 86
Acquisition of property plant and equipment (1,359) (601) (1,319)
Proceeds from sale of property plant and equipment 4 1
Net cash used in investing activities (86,763) (641) (1,232)
Cash flow from financing activities:      
Proceeds from issuance of Ordinary Shares, warrants and convertible notes, net 676,133 14,367 12,471
Exercise of warrants and options 2,837 282
Lease payments (1,118) (1,095)
Amounts recognized in respect of government grants liability, net (126) (113) 9
Net cash provided by financing activities 677,726 13,441 12,480
Increase (decrease) in cash 581,317 116 (2,199)
Cash at beginning of the year 3,894 3,753 6,103
Effect of exchange rate fluctuations on cash 127 25 (151)
Cash at end of year 585,338 3,894 3,753
Non-cash transactions:      
Property plant and equipment acquired on credit 25 $ 9
Conversion of convertible notes and warrants to equity $ 4,886 $ 2,073  
v3.20.4
General
 12 Months Ended
Dec. 31, 2020
Disclosure of general hedge accounting [Abstract]  
General

Note 1 – General


A.Reporting Entity

Nano Dimension Ltd. (the “Company”) is an Israeli resident company incorporated in Israel. The address of the Company’s registered office is 2 Ilan Ramon St., Ness Ziona, Israel. The consolidated financial statements of the Company as of December 31, 2020, comprise the Company and its subsidiaries in Israel, in the United States, and in Hong Kong (together referred to as the “Group”). The Company engages, by means of the subsidiary Nano Dimension Technologies Ltd. (“Nano-Technologies”), in the development of a three-dimensional (“3D”) additive manufacturing system and nanotechnology based conductive and dielectric inks, which are supplementary products to the additive manufacturing system. Since March 2016, the Company’s American Depositary Shares (“ADSs”) have been trading on the Nasdaq Capital Market.


The Ordinary Shares of the Company were registered for trade on the Tel Aviv Stock Exchange (TASE).


On May 20, 2020, the Company voluntary delisted its Ordinary Shares from the TASE.


B. Since August 25, 2014, the Company has devoted substantially all of its financial resources to develop its products and has financed its operations primarily through the issuance of equity securities. The amount of the Company’s future net profits or losses will depend, in part, on the rate of its future expenditures, its ability to generate significant revenues from the sale of its products, and its ability to obtain funding through the issuance of securities, strategic collaborations or grants. Starting in the fourth quarter of 2017, the Group began to commercialize its products and has generated revenues, mainly from sales of its 3D printers. The Group’s ability to generate revenue and achieve profitability depends on its ability to successfully commercialize its products.

C. Equity Offerings

During 2020, the Company conducted several public offerings in the United States, with aggregate gross proceeds of approximately $710,000,000, before deducting underwriting discounts and commissions and other offering-related expenses. After the reporting period, the Company conducted additional public offerings in the United States, with aggregate gross proceeds of $833,000,000, before deducting underwriting discounts and commissions and other offering-related expenses.


D. Effect of the coronavirus pandemic on the Group's business

Following the outbreak of the coronavirus (COVID-19) in China in December 2019, and it reaching many other countries as well at the beginning of 2020, there was a decrease in economic activity in many areas around the world, including Israel, the U.S., Europe and Asia-Pacific. The spread of the virus has led, inter alia, to a decrease in global transportation, restrictions on travel and work that were announced by the State of Israel and other countries around the world. As a result of the COVID-19 pandemic’s global effects, many entities held off on capital expenses; thus, the Company witnessed a significant decrease in the Group's revenues during 2020.


Since this event is not under the control of the Group, the Group is continuing to regularly follow the changes on the markets in Israel and the world and is examining the mid- and long-term effects on the business results of the Group.


E. The Operating Cycle

The operating cycle period of the Group is 12 months.
v3.20.4
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2020
Summary of Significant Accounting Policies [Abstract]  
Summary of Significant Accounting Policies

Note 2 – Summary of Significant Accounting Policies


The accounting policies of the Group set out below have been applied consistently for all periods presented in these consolidated financial statements, and have been applied consistently by Group entities, except for the change in accounting policy from January 1, 2019 as described in note 2.O below.


A. Basis for presentation of the financial statements

The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board. 


The consolidated financial statements have been prepared on the historical cost basis, except when otherwise indicated.


The consolidated financial statements were authorized for issuance by the Company’s board of directors on March 10, 2021.


B. Use of estimates and judgments

The preparation of financial statements in conformity with IFRS as issued by the International Accounting Standards Board requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.


The preparation of accounting estimates used in the preparation of the Group’s financial statements requires management of the Company to make assumptions regarding circumstances and events that involve considerable uncertainty. Management of 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.


Below is information about significant assumptions made by the Group with respect to estimates and judgments:


  - Fair value measurement of financial instruments

The Company accounts for financial liabilities relating to convertible notes, warrants and related derivatives at fair value through profit or loss. The fair values of these instruments are determined by using the Monte Carlo simulation method and the Black-Scholes model and assumptions regarding unobservable inputs used in the valuation model including the probability of meeting revenue targets, and weighted average cost of capital, all of which can lead to profit or loss from a change in the fair value of these instruments.


For information on details regarding fair value measurement at Level 2 and sensitivity analysis see Note 18.D regarding financial instruments.


  - Share-based payment transactions

Estimating fair value for share-based payment transactions requires determination of the most appropriate valuation model, which depends on the terms and conditions of the grant. This estimate also requires determination of the most appropriate inputs to the valuation model, including the expected life of the share option and volatility and making assumptions about them. For the measurement of the fair value of equity-settled transactions at the grant date, the Company uses the Black-Scholes formula or the Binomial pricing model.


C.Basis of consolidation Subsidiaries

A subsidiary is an entity controlled by the Company. The Company controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of the subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control is lost. The accounting policies of the subsidiaries are aligned with the policies adopted by the Group.


D. Functional currency and presentation currency

  (1) Functional and presentation currency

These consolidated financial statements are presented in U.S. dollars (“USD”), which is the Company’s functional currency, and have been rounded to the nearest thousands, except when otherwise indicated. The USD is the currency that represents the principal economic environment in which the Company operates.


  (2) Foreign currency transactions

Transactions in currencies other than the U.S. dollar are translated to the functional currency of the Group at exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated to the functional currency at the exchange rate at that date. The foreign currency gain or loss on monetary items is the difference between amortized cost in the functional currency at the beginning of the year, adjusted for effective interest and payments during the year, and the amortized cost in foreign currency translated at the exchange rate at the end of the year.


Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction.


Foreign currency differences arising on translation are recognized in profit or loss.


  (3) Index linked financial items

Financial assets and liabilities which according to their terms are linked to changes in the Israeli Consumer Price Index (the “Index”) are adjusted according to the relevant Index on every reporting date in accordance with the terms of the agreement. Linkage differences deriving from said adjustment are recorded to profit and loss.


  (4) Below are details regarding the exchange rate of the New Israeli Shekel (“NIS”) and the Euro and the Index of the NIS:

   Consumer Price Index   Euro   NIS 
December 31, 2020   101.1    1.22    0.31 
December 31, 2019   101.8    1.12    0.29 
December 31, 2018   101.2    1.14    0.27 
Change in percentages:               
Year ended December 31, 2020   (0.69)   (9.32)   (2)
Year ended December 31, 2019   0.6    (2)   8.45)
Year ended December 31, 2018   0.8    (4.4)   (7.5 

E. Financial instruments

  (1) Non-derivative financial assets

Initial recognition and measurement of financial assets


The Group initially recognizes trade receivables on the date that they are created. All other financial assets are recognized initially on the trade date at which the Group becomes a party to the contractual provisions of the instrument. A financial asset is initially measured at fair value plus transaction costs that are directly attributable to the acquisition or issuance of the financial asset. A trade receivable without a significant financing component is initially measured at the transaction price. Receivables originating from contract assets are initially measured at the carrying amount of the contract assets on the date classification was changed from contract asset to receivables.


Derecognition of financial assets


Financial assets are derecognized when the contractual rights of the Group to the cash flows from the asset expire, or the Group transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset were transferred. When the Group retains substantially all of the risks and rewards of ownership of the financial asset, it continues to recognize the financial asset.


Classification of financial assets into categories and the accounting treatment of each category


Financial assets are classified at initial recognition to one of the following measurement categories: amortized cost; fair value through other comprehensive income – investments in debt instruments; fair value through other comprehensive income – investments in equity instruments; or fair value through profit or loss.


The Group does not expect to incur any credit loss, thus the financial statements do not include provision for expected credit loss.


All financial assets not classified as measured at amortized cost or fair value through other comprehensive income as described above, as well as financial assets designated at fair value through profit or loss, are measured at fair value through profit or loss. On initial recognition, the Group designates financial assets at fair value through profit or loss if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise.


The Group has balances of cash, trade and other receivables and deposits that are held within a business model whose objective is collecting contractual cash flows. The contractual cash flows of these financial assets represent solely payments of principal and interest that reflect consideration for the time value of money and the credit risk. Accordingly, these financial assets are measured at amortized cost.


Cash includes cash balances available for immediate use. Deposits include short-term deposits with banking corporations (with original maturities of three months or more) that are readily convertible into known amounts of cash and are exposed to insignificant risks of change in value.


  (2) Non-derivative financial liabilities

Non-derivative financial liabilities include trade and other payables.


Initial recognition of financial liabilities


The Group initially recognizes financial liabilities on the trade date at which the Group becomes a party to the contractual provisions of the instrument.


Subsequent measurement of financial liabilities


Financial liabilities are recognized initially at fair value less any directly attributable transaction costs. Subsequent to initial recognition these financial liabilities are measured at amortized cost using the effective interest method. Transaction costs directly attributable to an expected issuance of an instrument that will be classified as a financial liability are recognized as an asset in the framework of deferred expenses in the statement of financial position. These transaction costs are deducted from the financial liability upon its initial recognition, or are amortized as financing expenses in the statement of profit or loss and other comprehensive income when the issuance is no longer expected to occur.


Derecognition of financial liabilities


Financial liabilities are derecognized when the obligation of the Group, as specified in the agreement, expires or when it is discharged or cancelled.


Offset of financial instruments


Financial assets and liabilities are offset and the net amount presented in the statement of financial position when, and only when, the Company currently has a legal right to offset the amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously.


Measurement of derivative financial instruments


Derivatives are recognized initially at fair value attributable transaction costs are recognized in profit or loss as incurred. Subsequent to initial recognition, derivatives are measured at fair value, and changes therein are recognized in profit or loss, as financing income or expense.


F. Property plant and equipment

Property plant and equipment are presented according to cost, including directly attributed acquisition costs, minus accumulated depreciation and losses from accrued decrease in value. Improvements and upgrades are included in the assets’ costs whereas maintenance and repair costs are recognized in profit and loss as accrued.


Gains and losses on disposal of a fixed asset item are determined by comparing the net proceeds from disposal with the carrying amount of the asset, and are recognized in their corresponding section, in profit or loss.


The cost of printers used for internal purposes, which are classified as property, plant and equipment, includes the cost of materials and direct labor, and any other costs directly attributable to bringing the assets to a working condition for their intended use.


The depreciation is calculated in equal yearly rates during the period of the useful life span of the assets, as follows:


    %
Machinery and equipment (mainly 7%)   7 – 25
Computers   20 – 33
Office furniture and equipment   7 – 15
Leasehold Improvements   7 – 10
Printers leased to customers   25

Depreciation methods, useful lives and residual values are reviewed at the end of each reporting year and adjusted if appropriate.


G. Inventory

Inventories are measured at the lower of cost and net realizable value. The cost of inventories is based on the weighted averages method, and includes expenditure incurred in acquiring the inventories and the costs incurred in bringing them to their existing location and condition. In the case of manufactured inventories and work in progress, cost includes an appropriate share of production overheads based on normal operating capacity. Net realizable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and selling expenses.


H. Impairment of non-financial assets

The carrying amounts of the Group’s non-financial assets are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated.


The recoverable amount of an asset is the greater of its value in use and its fair value, minus the costs of disposal. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects the assessments of market participants regarding the time value of money and the risks specific to the asset, for which the estimated future cash flows from the asset were not adjusted.


An impairment loss is recognized if the carrying amount of an asset exceeds its estimated recoverable amount. Impairment losses are recognized in profit or loss.


I. Provisions

A provision for claims is recognized if, as a result of a past event, the Group has a present legal or constructive obligation that can be estimated reliably and it is probable that an outflow of economic benefits will be required to settle the obligation. When the value of time is material, the provision is measured at its present value.


J. Treasury shares and Ordinary Shares

When share capital recognized as equity is repurchased by the Group, the amount of the consideration paid, which includes directly attributable costs, net of any tax effects, is recognized as a deduction from equity. Repurchased shares are classified as treasury shares. When treasury shares are sold or reissued subsequently, the amount received is recognized as an increase in equity, and the resulting surplus on the transaction is carried to share premium, whereas a deficit on the transaction is deducted from retained earnings.


Ordinary Shares are classified as equity. Incremental costs directly attributable to the issuance of Ordinary Shares and share options are recognized as a deduction from equity, net of any tax effects.


K. Revenue recognition

The Company recognizes revenue when the customer obtains control over the promised goods or services. The revenue is measured according to the amount of the consideration to which the Company expects to be entitled in exchange for the goods or services promised to the customer, other than amounts collected for third parties.


The Company accounts for a contract with a customer only when the following conditions are met:


  (a) The parties to the contract have approved the contract (in writing, orally or according to other customary business practices) and they are committed to satisfying the obligations attributable to them;
     
  (b) The Company can identify the rights of each party in relation to the goods or services that will be transferred;

  (c) The Company can identify the payment terms for the goods or services that will be transferred;
     
  (d) The contract has a commercial substance (i.e. the risk, timing and amount of the entity’s future cash flows are expected to change as a result of the contract); and
     
  (e) It is probable that the consideration, to which the Company is entitled to in exchange for the goods or services transferred to the customer, will be collected.

If a contract with a customer does not meet all of the above criteria, consideration received from the customer is recognized as a liability until the criteria are met or when one of the following events occurs: the Company has no remaining obligations to transfer goods or services to the customer and any consideration promised by the customer has been received and cannot be returned; or the contract has been terminated and the consideration received from the customer cannot be refunded. 


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.


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. SSP are estimated for each distinct performance obligation and judgment may be required in their determination. The best evidence of SSP is the estimated price of a product or service if the Company would sell them separately in similar circumstances and to similar customers.


The Company allocates the transaction price to the identified performance obligations based on the residual approach, while allocating the estimated standalone selling prices for performance obligations relating to maintenance, training and installation services, and the residual is allocated to the printer.


Revenues allocated to the 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 during the time of performance.


A contract asset is recognized when the Group has a right to consideration for goods or services it transferred to the customer that is conditional on other than the passing of time, such as future performance of the Group. Contract assets are classified as receivables when the rights in their respect become unconditional.


A contract liability is recognized when the Group has an obligation to transfer goods or services to the customer for which it received consideration (or the consideration is payable) from the customer.


L. Research and development and intangible assets

Expenditure on research activities, undertaken with the prospect of gaining new scientific or technical knowledge and understanding, is recognized in profit or loss when incurred.


Development activities involve a plan or design for the production of new or substantially improved products and processes. Development expenditure is capitalized only if development costs can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable, and the Group has the intention and sufficient resources to complete development and to use or sell the asset.


The expenditure capitalized in respect of development activities includes the cost of materials, direct labor and overhead costs that are directly attributable to preparing the asset for its intended use.


In the fourth quarter of 2016, the Group ceased to capitalize development expenses and began to amortize the intangible asset arising from capitalization of development expenses, upon the initiation of its beta program. In subsequent periods, capitalized development expenditure is measured at cost minus accumulated amortization and accumulated impairment losses.


M. Amortization of intangible assets

Amortization is a systematic allocation of the amortizable amount of an intangible asset over its useful life. The amortizable amount is the cost of the asset, minus its residual value. Amortization is recognized in profit or loss on a straight-line basis, over the estimated useful lives of the intangible assets from the date they are available for use, since these methods most closely reflect the expected pattern of consumption of the future economic benefits embodied in each asset.


The estimated useful lives of the capitalized development costs have been determined by the Company’s management as 10 years. Amortization methods, useful lives and residual values are reviewed at the end of each reporting year and adjusted if appropriate.


N. Government grants

Government grants are recognized initially at fair value when there is reasonable assurance that they will be received and the Group will comply with the conditions associated with the grant.


Grants from the Israeli Innovation Authority (the “Innovation Authority”), with respect to research and development projects, are accounted for as forgivable loans according to International Accounting Standard (“IAS”) 20, Accounting for Government Grants and Disclosure of Government Assistance. Grants received from the Innovation Authority are recognized as a liability according to their fair value on the date of their receipt, unless it is reasonably certain, on that date, that the amount received will not be refunded. The amount of the liability is reexamined each period, and any changes in the present value of the cash flows discounted at the original interest rate of the grant are recognized in profit or loss. The difference between the amount received and the fair value on the date of receiving the grant is recognized as a deduction of research and development expenses. Expenses related to revaluation of the liability in respect of government grants were recognized in the statements of profit or loss and other comprehensive income as finance expenses.


O. Leases

Policy applicable before January 1, 2019


Determining whether an arrangement contains a lease


At inception or upon reassessment of an arrangement, the Group determines whether such an arrangement is or contains a lease. An arrangement is a lease or contains a lease if the following two criteria are met:


  ● The fulfilment of the arrangement is dependent on the use of a specific asset or assets; and

  ● The arrangement contains rights to use the asset.

Leases that do not transfer substantially all the risks and rewards incidental to ownership of an underlying asset were classified as operating leases.


The Group recognized operating lease payments as expenses on a straight-line basis over the lease term.


Policy applicable from January 1, 2019


Determining whether an arrangement contains a lease


On the inception date of the lease, the Group determines whether the arrangement is a lease or contains a lease, while examining if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. In its assessment of whether an arrangement conveys the right to control the use of an identified asset, the Group assesses whether it has the following two rights throughout the lease term:


  (a) The right to obtain substantially all the economic benefits from use of the identified asset; and

  (b) The right to direct the identified asset’s use.

For lease contracts that contain non-lease components, such as services or maintenance, that are related to a lease component, the Group elected to account for the contract as a single lease component without separating the components.


Leased assets and lease liabilities


Contracts that award the Group control over the use of a leased asset for a period of time in exchange for consideration, are accounted for as leases. Upon initial recognition, the Group recognizes a liability at the present value of the balance of future lease payments (these payments do not include certain variable lease payments), and concurrently recognizes a right-of-use asset at the same amount of the lease liability, adjusted for any prepaid or accrued lease payments, plus initial direct costs incurred in respect of the lease.


Since the interest rate implicit in the Group’s leases is not readily determinable, the incremental borrowing rate of the lessee is used. Subsequent to initial recognition, the right-of-use asset is accounted for using the cost model, and depreciated over the shorter of the lease term or useful life of the asset.


The Group has elected to apply the practical expedient by which short-term leases of up to one year and/or leases in which the underlying asset has a low value, are accounted for such that lease payments are recognized in profit or loss on a straight-line basis, over the lease term, without recognizing an asset and/or liability in the statement of financial position.


The lease term


The lease term is the non-cancellable period of the lease plus periods covered by an extension or termination option if it is reasonably certain that the lessee will or will not exercise the option, respectively.


Variable lease payments


Variable lease payments that depend on an index or a rate, are initially measured using the index or rate existing at the commencement of the lease and are included in the measurement of the lease liability. When the cash flows of future lease payments change as the result of a change in an index or a rate, the balance of the liability is adjusted against the right-of-use asset.


Other variable lease payments that are not included in the measurement of the lease liability are recognized in profit or loss in the period in which the event or condition that triggers payment occurs.


Depreciation of right-of-use asset


After lease commencement, a right-of-use asset is measured on a cost basis less accumulated depreciation and accumulated impairment losses and is adjusted for re-measurements of the lease liability. Depreciation is calculated on a straight-line basis over the useful life or contractual lease period, whichever is earlier, as follows:


  ● Buildings 1-5 years
  ● Motor vehicles 3 years

Reassessment of lease liability


Upon the occurrence of a significant event or a significant change in circumstances that is under the control of the Group and had an effect on the decision whether it is reasonably certain that the Group will exercise an option, which was not included before in the lease term, or will not exercise an option, which was previously included in the lease term, the Group re-measures the lease liability according to the revised leased payments using a new discount rate. The change in the carrying amount of the liability is recognized against the right-of-use asset, or recognized in profit or loss if the carrying amount of the right-of-use asset was reduced to zero.


Lease modifications


When a lease modification increases the scope of the lease by adding a right to use one or more underlying assets, and the consideration for the lease increased by an amount commensurate with the stand-alone price for the increase in scope and any appropriate adjustments to that stand-alone price to reflect the contract’s circumstances, the Group accounts for the modification as a separate lease.


In all other cases, on the initial date of the lease modification, the Group allocates the consideration in the modified contract to the contract components, determines the revised lease term and measures the lease liability by discounting the revised lease payments using a revised discount rate.


For lease modifications that decrease the scope of the lease, the Group recognizes a decrease in the carrying amount of the right-of-use asset in order to reflect the partial or full cancellation of the lease, and recognizes in profit or loss a profit (or loss) that equals the difference between the decrease in the right-of-use asset and re-measurement of the lease liability.


For other lease modifications, the Group re-measures the lease liability against the right-of-use asset.


P. Financing income and expenses

Financing income is comprised of interest income on deposits, revaluation of liability in respect of government grants, foreign currency gains and fair value changes of financial liabilities through profit and loss.


Financing expenses are comprised of bank fees, exchange rate differences, revaluation of liability in respect of government grants and fair value changes of financial liabilities through profit and loss.


Foreign currency gains and losses on financial assets and financial liabilities are reported on a net basis as either financing income or financing expenses depending on whether foreign currency movements are in a net gain or net loss position.


Q. Employee benefits

Severance pay


The Group’s liability for severance pay for its employees is calculated pursuant to Israeli Severance Pay Law (1963) (the “Severance Pay Law”). The Group’s liability is covered by monthly deposits with severance pay funds and insurance policies. For all of the Group’s employees, the payments to pension funds and to insurance companies exempt the Group 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 (as defined below). Accumulated amounts in pension funds and in insurance companies are not under the Group’s control or management and, accordingly, neither those amounts nor the corresponding accrual for severance pay are presented in the consolidated statements of financial position.


A defined contribution plan is a post-employment benefit plan under which an entity pays fixed contributions into a separate entity and has no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution pension plans are recognized as an expense in profit or loss in the periods during which related services are rendered by employees.


Share-based payment transactions


The grant date fair value of share-based payment awards granted to employees is recognized as a salary expense, with a corresponding increase in equity, over the period that the employees become unconditionally entitled to the awards. Share-based payment arrangements in which the subsidiary grants rights to parent company equity instruments to its employees are accounted for by the Group as equity-settled share-based payment transactions.


R. Loss per share

The Group presents basic and diluted loss per share for its Ordinary Shares. Basic loss per share is calculated by dividing the loss attributable to holders of Ordinary Shares of the Company by the weighted average number of Ordinary Shares outstanding during the year, adjusted for treasury shares. Diluted loss per share is determined by adjusting the loss attributable to holders of Ordinary Shares of the Company and the weighted average number of Ordinary Shares outstanding, after adjustment for treasury shares, for the effects of all dilutive potential Ordinary Shares. 
v3.20.4
Cash and Restricted Deposits
 12 Months Ended
Dec. 31, 2020
Disclosure Of Cash And Restricted Deposits Explanatory [Abstract]  
Cash and Restricted Deposits

Note 3.A – Cash


    December 31,  
    2019     2020  
    Thousands
USD		     Thousands
USD		  
Bank accounts- dominated in NIS   348     1,057  
Bank accounts- dominated in USD     3,536       584,205  
Bank accounts- other     10       76  
      3,894       585,338  

Note 3.B – Restricted deposits


The Group has a restricted deposit in the amount of $468 thousand for the lease of its offices and labs and for credit cards. The deposit is not linked and bears an annual interest rate of 0.01%. The Group expects to lease its offices and labs for a period of more than a year, thus the restricted deposit was classified as a non-current asset.

v3.20.4
Trade Receivables and Other Receivables
 12 Months Ended
Dec. 31, 2020
Trade and other receivables [Abstract]  
Trade receivable and Other receivables

Note 4.A – Trade receivables


   December 31, 
   2019   2020 
   Thousands
USD		   Thousands
USD		 
Open balances  1,816   713 

Note 4.B – Other receivables


   December 31, 
   2019   2020 
   Thousands
USD		   Thousands
USD		 
Government authorities   332    400 
Prepaid expenses   221    696 
Others   17    30 
    570    1,126 
v3.20.4
Inventory
 12 Months Ended
Dec. 31, 2020
Inventory [Abstract]  
Inventory

Note 5 – Inventory


   December 31, 
   2019   2020 
   Thousands
USD		   Thousands
USD		 
Raw materials and work in progress (*)   2,636    2,692 
Finished goods   907    622 
    3,543    3,314 

(*)A part of the raw materials and work in progress are expected to be sold in a period longer than the operating cycle of the Company.

v3.20.4
Property Plant and Equipment, Net
 12 Months Ended
Dec. 31, 2020
Property, plant and equipment [Abstract]  
Property plant and equipment, net

Note 6 – Property plant and equipment, net


   Machinery and equipment   Computers   Office furniture and equipment   Leasehold improvements   Printers leased to clients   Total 
   Thousands
USD		   Thousands
USD		   Thousands
USD		   Thousands
USD		   Thousands
USD		   Thousands
USD		 
Cost                        
As of January 1, 2019   4,132    471    158    1,719    199    6,679 
Additions   770    5    32    26    -    833 
Disposals   (306)   -    (3)   -    (87)   (396)
Designation change   112    -    -    -    (112)   - 
As of December 31, 2019   4,708    476    187    1,745    -    7,116 
                               
Additions   1,163    124    85    12    -    1,384 
Disposals   -    (8)   (22)   -    -    (30)
As of December 31, 2020   5,871    592    250    1,757    -    8,470 
                               
Depreciation accrued                              
As of January 1, 2019   792    365    37    238    47    1,479 
Disposals   799    65    17    166    13    1,060 
Designation change   (133)   -    (1)   -    (32)   (166)
Disposals   28    -    -    -    (28)   - 
As of December 31, 2019   1,486    430    53    404    -    2,373 
                               
Additions   787    47    30    167    -    1,031 
Disposals   -    (8)   (18)   -    -    (26)
As of December 31, 2020   2,273    469    65    571    -    3,378 
                               
Carrying amount                              
As of December 31, 2020   3,598    123    185    1,186    -    5,092 
As of December 31, 2019   3,222    46    134    1,341    -    4,743 

During the year ended December 31, 2020, the Group acquired $25,000 of property plant and equipment on credit.
v3.20.4
Intangible Assets
 12 Months Ended
Dec. 31, 2020
Intangible Assets [Abstract]  
Intangible assets

Note 7 – Intangible assets


Intangible assets include development costs that were capitalized. The expenditure capitalized in respect of development activities includes the cost of materials, direct labor and overhead costs that are directly attributable to preparing the asset for its intended use. See also Note 2.M.


    2019     2020  
    Thousands
USD		     Thousands
USD		  
Balance as of January 1     5,983       5,211  
Amortization     (772 )     (771 )
Balance as of December 31     5,211       4,440  
v3.20.4
Subsidiaries
 12 Months Ended
Dec. 31, 2020
Subsidiaries [Abstract]  
Subsidiaries

Note 8 – Subsidiaries


Presented hereunder is a list of the Group’s subsidiaries:


    Principal location
of the company’s
activity		   The Group’s ownership interest in the subsidiary for the year ended December 31  
      2019     2020  
Name of company     %     %  
Nano Dimension Technologies Ltd.   Israel     100 %     100 %
Nano Dimension IP Ltd. (*)   Israel     100 %     100 %
Nano Dimension USA Inc.   USA     100 %     100 %
Nano Dimension (HK) Limited (*)   Asia-Pacific     100 %     100 %

(*) Nano Dimension IP Ltd. and Nano Dimension (HK) Limited were incorporated by the Company in 2018. Nano Dimension IP Ltd. had no material activity until and during 2020.
v3.20.4
Other Payables
 12 Months Ended
Dec. 31, 2020
Other Payables [Abstract]  
Other payables

Note 9 – Other payables


    December 31,  
    2019     2020  
    Thousands
USD		     Thousands
USD		  
Accrued expenses     406       1,635  
Contract liabilities     991       968  
Lease liability     1,055       1,148  
Employees and related liabilities     616       1,230  
Government authorities     249       659  
Current maturities in respect of government grants     231       226  
Others     27       44  
      3,575       5,910  
v3.20.4
Liability in Respect of Government Grants
 12 Months Ended
Dec. 31, 2020
Liability in Respect of Government Grants [Abstract]  
Liability in respect of government grants

Note 10 – Liability in respect of government grants


    2019     2020  
    Thousands
USD		     Thousands
USD		  
Balance as of January 1     1,445       1,275  
Amounts received during the year     121       55  
Payment of royalties     (185 )     (158 )
Amounts recognized as an offset from research and development expenses     (49 )     (23 )
Revaluation of the liability     (57 )     (73 )
Balance as of December 31     1,275       1,076  
                 
Current maturities in respect of government grants     231       226  
Long term liability in respect of government grants     1,044       850  

During the years 2014 to 2020, Nano-Technologies received several approvals from the Innovation Authority, to finance development projects in an aggregate amount of up to $4,505,000, while the Innovation Authority share of financing the aforesaid amount was in a range of 30% to 50% of expenditures. As of December 31, 2020, the Company received grants in the aggregate amount of $1,865,000. In consideration, Nano-Technologies undertook to pay the Innovation Authority royalties in the rate of 3%-3.5% of the future sales up to the amount of the grants received. On the date on which the grants were received, the Group recognized a liability using a discount rate ranging between 19% to 30%.
v3.20.4
Equity
 12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Equity

Note 11 – Equity


A. The Company’s share capital (in thousands of Ordinary Shares)

   Ordinary Shares 
   2019(*)   2020 
Issued and paid-up share capital as at December 31   4,179    172,052 
Authorized share capital   10,000    250,000 

(*) Following the approval of its shareholders on April 16, 2020, the board of directors of the Company approved a 1-for-50 reverse split of the Company’s share capital. The implementation of the reverse split resulted in a reduction in the issued and outstanding Ordinary Shares, and the increase of the par value per Ordinary Share from NIS 0.10 to NIS 5.00 per Ordinary Share. Concurrently with the reverse split, the Company effected a corresponding change in the ratio of ordinary shares to each of the Company’s ADSs, such that its ratio of ADSs to Ordinary Shares has changed from one (1) ADS representing fifty (50) Ordinary Shares to a new ratio of one (1) ADS representing one (1) Ordinary Share. The effective date of this reverse split was June 29, 2020. All options and warrants of the Company outstanding immediately prior to the reverse split were appropriately adjusted by dividing the number of Ordinary Shares into which the options and warrants are exercisable by 50 and multiplying the exercise price thereof by 50, as a result of the reverse split. All the figures in these financial statements relating to share capital were appropriately adjusted to reflect the above-mentioned reverse split.

Share capital (in thousands of shares of NIS 5 par value)


   Ordinary Shares 
   2019   2020 
Issued as at January 1   1,931    4,179 
Issued for cash during the period   1,600    163,542 
Conversion into shares of convertible notes during the period   610    1,395 
Exercise of warrants during the period   38    2,918 
Exercise of share options during the period   -    18 
Issued and paid-in share capital as at December 31   4,179    172,052 

In April 2020, following approval of the general meeting of the Company’s shareholders, the Company increased its authorized share capital by NIS 100,000,000, such that the authorized share capital of the Company was NIS 150,000,000.


In May 2020, following approval of the general meeting of the Company’s shareholders, the Company increased its authorized share capital by NIS 100,000,000, such that the authorized share capital of the Company was NIS 250,000,000.


In June 2020, following approval of the general meeting of the Company’s shareholders, the Company increased its authorized share capital by NIS 1,000,000,000, such that the authorized share capital of the Company was NIS 1,250,000,000 divided into 250,000,000 Ordinary Shares, par value NIS 5.00 each.


After the reporting date, on February 2021, following approval of the general meeting of the Company’s shareholders, the Company increased its authorized share capital by NIS 1,250,000,000, such that the authorized share capital of the Company was NIS 2,500,000,000 divided into 500,000,000 Ordinary Shares, par value NIS 5.00 each.


B. Financing transactions

  1. In February 2019, the Company issued, pursuant to a public offering in the United States, an aggregate of 1,600,000 ADSs, 1,600,000 non-tradable warrants with an exercise price of $8.625 per ADS and term of 5 years and 1,200,000 non-tradable rights to purchase shares with an exercise price of $7.50 per ADS and term of 6 months. In certain cases, the rights to purchase and the warrants may be exercised on a cashless basis. Therefore, the rights to purchase and the warrants are accounted for as derivative instruments which are classified as a liability and measured at fair value through profit or loss. The total gross consideration was $12,000,000 and was initially attributed to the financial liability for the rights to purchase and warrants based on their fair value in the amount of $10,201,000 and the remaining amount was attributed to the ADSs issued and recognized as an equity component in the amount of $1,799,000. Applicable issuance costs, amounting to $1,440,000, have been allocated in the same proportion as the allocation of the gross proceeds. An amount of $1,224,000 was considered as issuance costs allocated to the rights to purchase and the warrants and has been recorded in profit or loss as finance expense, while costs allocated as issuance costs of ADSs in the amount of $216,000 have been recorded in equity as a reduction of the share premium. The total net proceeds from the offering were approximately $10,560,000.

During the first quarter of 2019, investors exercised 37,620 of the rights to purchase 37,620 Ordinary Shares for a total consideration of $282,000.


The value of the financial liability in respect to the warrants was measured as of December 31, 2020, at an amount of approximately $10,892,000.


  2. In August 2019, the Company issued, pursuant to a securities purchase agreement, convertible promissory notes, in an aggregate principal amount of $4,276,000 and an additional approximately $2,700,000 to be received in two subsequent closings, bringing the expected total gross proceeds from this funding to approximately $7,000,000. The notes were convertible into the Company’s ADSs. As a part of this transaction, the Company issued non-tradable warrants to purchase 62,668,850 ADSs. The warrants have an exercise price equal to 125% of the conversion price of the convertible promissory notes, will be exercisable upon the six-month anniversary of issuance and will expire five years from the date of issuance. The total gross proceeds from the first closing were $4,276,000.

The first tranche of the convertible promissory notes was unsecured, had a maturity date of March 4, 2021, bore no interest except in an event of default and could be converted, at the election of the holder, into ADSs at an initial per share conversion price of $2.90, subject to adjustments, including among others, revenue targets and the conversion prices of the subsequent tranches. The convertible notes have been designated as a financial liability measured at fair value through profit and loss since they were combined instruments including embedded derivatives. The warrants are also classified as a financial liability that is measured at fair value through profit and loss as neither the exercise price nor the number of shares to be issued is fixed. The rights for the future issuance of the convertible notes and the warrants of the second and third tranches have been accounted for as derivatives.


The initial fair value of the financial liabilities issued in the transaction at their issuance date has been evaluated in the amount of $11,609,000, while the consideration received from this transaction was $4,276,000. The difference, in the amount of $7,333,000, has been allocated to the convertible notes, warrants and rights to purchase recognized with respect to this transaction.


The allocation was based on the proportion of the fair value of each instrument. The loss that has not been recognized for each instrument is amortized on a straight line basis over the term of each instrument.


Accordingly, from the consideration received, approximately $1,569,000 was attributed to the convertible notes of the first tranche, $1,902,000 was attributed to the warrants of the first tranche, and a total of approximately $805,000 was attributed to the rights with respect to the second and third tranches.


During 2019 and until December 31, 2019, $1,767,400 of the principal amount of the convertible notes was converted into 609,448 ADSs. As a result of the conversion, $2,003,000 of the loss that had not been initially recorded has been recognized as finance expenses in the year ended December 31, 2019.


Prior to February 4, 2020, an additional of approximately $204,000 of the principal amount of the convertible notes was converted.


On February 4, 2020, the Company and the holders of a significant portion of the remaining financial instruments agreed to amend the terms of this transaction such that the conversion price of the convertible notes decreased to $1.74 per ADS, and the holders of such notes agreed to convert such notes into ADSs. As a result, an aggregate of approximately $2,305,000 of the principal amount of the convertible notes was converted. Additionally, the Company agreed to amend the exercise price of the warrants of the first tranche to $1.914 per ADS, and the Company and the investors agreed to terminate substantially all remaining obligations in this transaction, including the instruments to be issued under the second and third tranche.


During the first quarter of 2020, all the outstanding balance of the convertible notes was converted.


The fair value of the remaining financial liabilities relating to the warrants issued in this transaction was measured as of December 31, 2020, at an amount of approximately $745,000. See also Note 18.D - Financial Liabilities.


  3. During 2020, the Company issued, pursuant to several public offerings in the United States, an aggregate of 163,542,447 ADSs and 430,000 pre-funded warrants (that were converted to ADSs during 2020). The total gross proceeds from the offerings were approximately $710,013,000, before deducting underwriting discounts and commissions and other offering-related expenses. The total net proceeds from the offerings, after deducting issuance expenses, were approximately $650,115,000. As a part of those offerings, the Company issued a total of 7,365,289 non-tradable warrants to the underwriters. The warrants are accounted for as share-based payment expenses, see also note 17.

  4. See also Note 21.A regarding public offerings after the reporting date.

C. Treasury shares

As of December 31, 2020, the Company held 10,540 Ordinary Shares, constituting approximately 0.006% of its issued and paid up share capital.
v3.20.4
Revenues
 12 Months Ended
Dec. 31, 2020
Revenues [Abstract]  
Revenues

Note 12 – Revenues


   For the year ended
December 31		 
   2018   2019   2020 
   Thousands
USD		   Thousands
USD		   Thousands
USD		 
Consumables   190    650    554 
Support services   400    598    654 
Sales of printers   4,320    5,770    2,191 
Total   4,910    7,018    3,399 
Printers rental   190    52    - 
Total revenue   5,100    7,070    3,399 

Revenues per geographical locations:


   For the year ended
December 31,		 
   2018   2019   2020 
   Thousands
USD		   Thousands
USD		   Thousands
USD		 
U.S.   2,727    3,367    1,263 
Asia Pacific   1,239    1,591    1,362 
Europe and Israel(*)   1,134    2,112    774 
Total revenue   5,100    7,070    3,399 

(*) The Company combined all revenues into the Europe and Israel geography, due to immateriality of the amounts.

Timing of revenue recognition:


   For the year ended
December 31,		 
   2018   2019   2020 
   Thousands
USD		   Thousands
USD		   Thousands
USD		 
Goods and services transferred over time   590    650    654 
Goods transferred at a point in time   4,510    6,420    2,745 
Total revenue   5,100    7,070    3,399 

The table below provides information regarding receivables, contract assets and contract liabilities deriving from contracts with customers.


   December 31, 
   2019   2020 
   Thousands
USD		   Thousands
USD		 
Open balances   1,816    713 
Contract liabilities   991    968 

The contract liabilities primarily relate to the advance consideration received from customers for contracts giving yearly maintenance for the printer. The revenue is recognized in a straight line basis over the contracts’ period.


Contract costs


Management expects that commissions paid to agents for obtaining contracts are recoverable. The Group applies the expedient included in IFRS 15.94 and recognizes incremental costs for obtaining the contract as an expense as incurred, where the amortization period of the asset it would have otherwise recognized is one year or less.


During 2020, the Company witnessed a significant decrease in its revenues due to the effects of the COVID-19 pandemic. See also note 1.D.
v3.20.4
Cost of Revenues
 12 Months Ended
Dec. 31, 2020
Disclosure of cost of sales [text block] [Abstract]  
Cost of revenues

Note 13 – Cost of revenues


   For the year ended
December 31		 
   2018   2019   2020 
   Thousands
USD		   Thousands
USD		   Thousands
USD		 
According to sources of revenue -            
Consumables   195    240    169 
Support services   403    855    629 
Sales of printers   2,938    3,192    765 
Printers rental   58    25    - 
Total   3,594    4,312    1,563 
v3.20.4
Further Detail of Profit or Loss
 12 Months Ended
Dec. 31, 2020
Profit or loss [abstract]  
Further detail of profit or loss

Note 14 – Further detail of profit or loss


   For the year ended
December 31		 
   2018   2019   2020 
   Thousands
USD		   Thousands
USD		   Thousands
USD		 
A. Research and development expenses, net            
Payroll   4,890    4,834    6,531 
Materials   1,065    1,001    940 
Subcontractors   70    82    258 
Patent registration   70    144    160 
Depreciation   880    1,534    1,588 
Rental fees and maintenance   908    197    173 
Other   782    339    249 
    8,665    8,131    9,899 
Less – government grants   (42)   (49)   (21)
    8,623    8,082    9,878 
B. Sales and marketing expenses               
Payroll   2,226    2,873    5,326 
Marketing, advertising and commissions   1,381    1,808    577 
Rental fees and maintenance   64    114    201 
Travel abroad   201    317    235 
Depreciation   186    212    223 
Other   201    145    35 
    4,259    5,469    6,597 
                
C. General and administrative expenses               
Payroll   819(*)   872(*)   1,377 
Share based payment expenses   206(*)   155(*)   16,837 
Fees   32    22    22 
Professional services   1,114    1,358    1,064 
Directors pay   209(*)   187(*)   - 
Office expenses   311    359    386 
Travel abroad   45    37    44 
Depreciation   -    78    76 
Rental fees and maintenance   91    43    46 
Other   107    159    435 
    3,002    3,270    20,287 
D. Finance income               
Revaluation of liability in respect of government grants   -    58    75 
Exchange rate differences   -    -    123 
Revaluation of financial liabilities at fair value through profit or loss (**)   -    8,707    - 
Bank interest and fees   54    -    248 
    54    8,765    446 
Finance expense               
Exchange rate differences   127    151    - 
Bank fees   -    14    28 
Finance expense in respect of lease liability   -    425    390 
Revaluation of financial liabilities at fair value through profit or loss (**)   -    -    12,825 
Fundraising expenses   -    1,693    - 
Revaluation of liability in respect of government grants   265    -    - 
    392    2,283    13,243 

(*)Reclassified.

(**) See Note 11.B regarding financing transactions that included issuance of financial instruments accounted at fair value through profit and loss.
v3.20.4
Income Tax
 12 Months Ended
Dec. 31, 2020
Income Tax [Abstract]  
Income Tax

Note 15 – Income Tax


A. Corporate tax rate

Presented hereunder are the tax rates relevant to the Company in the years 2018 to 2020:


2018 – 23%


2019 – 23%


2020 – 23%


On December 22, 2016, the Knesset plenum passed the Economic Efficiency Law (Legislative Amendments for Achieving Budget Objectives in the Years 2017 and 2018) – 2016, by which, inter alia, the corporate tax rate would be reduced from 25% to 23% in two steps. The first step will be to a rate of 24% as from January 2017 and the second step will be to a rate of 23% as from January 2018.


As a result of the reduction in the tax rate, the deferred tax balances as at December 31, 2019 and 2020 were calculated according to the new tax rates specified in the Economic Efficiency Law (Legislative Amendments for Achieving Budget Objectives in the Years 2017 and 2018), at the tax rate expected to apply on the date of reversal.


B. Benefits under the Law for the Encouragement of Industry (Taxes)

  (a) The Company and some of its subsidiaries qualify as “Industrial Companies” as defined in the Law for the Encouragement of Industry (Taxes) – 1969, and accordingly they are entitled to benefits, of which the most significant are, under limited conditions, the possibility of submitting consolidated tax returns with related Israeli companies and amortization in three equal annual portions of issuance expenses when registering shares for trading as from the date the shares of the company were registered.
     
  (b) The Company and certain subsidiaries are submitting a consolidated tax return to the tax authorities in accordance with the Law for the Encouragement of Industry (Taxes) – 1969. As a result, the companies are, inter alia, entitled to offset their losses from the taxable income of other companies, subject to compliance with certain conditions.

C. Theoretical tax

The following presents the adjustment between the theoretical tax amount and the tax amount included in the financial statements:


   For the year ended
December 31,		 
   2018   2019   2020 
   Thousands
USD		   Thousands
USD		   Thousands
USD		 
Total comprehensive loss   (15,488)   (8,353)   (48,494)
Statutory tax rate   23%   23%   23%
Theoretical tax benefit   (3,562)   (1,921)   (11,154)
Increase in tax liability due to:               
Non-deductible expenses   280    75    4,299 
Losses and benefits for tax purposes for which no deferred taxes were recorded   3,282    1,846    6,855 
Taxes on income   -    -    - 

D. Tax assessments

The Company has final tax assessments until and including the 2017 tax year.


Nano Dimension Technologies Ltd. has final tax assessments until and including the 2015 tax year.


E. Accumulated losses for tax purposes and other deductible temporary differences

As of the reporting date, the Group has net operating loss for tax purposes in the amount of approximately $79,688,000 and capital loss for tax purpose in the amount of approximately $840,000.


As of December 31, 2020, the Group has deductible temporary differences in the amount of approximately $31,634,000, mainly relating to funding expenses and research and development expenses which are deductible over a period of three years for tax purposes.


The Group has not recognized a tax asset for the aforesaid losses and deductible temporary differences, due to the uncertainty regarding the ability to utilize those losses and deductible of temporary differences in the future.


E. Income Tax Regulations (Rules on Bookkeeping by Foreign Invested Companies and Certain Partnerships and Determination of their Taxable Income), 1986

As a “Controller Foreign Cooperation” (as defined in the Israeli Law for the Encouragement of Capital Investments-1959), the Company's management has elected to apply Income Tax Regulations (Rules for Maintaining Accounting Records of Foreign Invested Companies and Certain Partnerships and Determining Their Taxable Income) – 1986, from January 2018. Accordingly, its taxable income or loss is calculated in US Dollars.
v3.20.4
Loss Per Share
 12 Months Ended
Dec. 31, 2020
Earnings per share [Abstract]  
Loss per share

Note 16 – Loss per share


   For the year ended
December 31		 
   2018(*)   2019(*)   2020 
Weighted average of number of Ordinary Shares used in the calculation of basic and diluted loss per share (in thousands)(*)   1,836    3,513    42,947 
Net loss used in calculation (thousands USD)   15,488    8,353    48,494 

In 2020, 22,810,291 options and warrants (in 2019: 3,468,948 and 2018: 170,341) were excluded from the diluted weighted average number of Ordinary Shares calculation as their effect would have been anti-dilutive.


(*)All the figures in this note were adjusted to reflect the 1:50 reverse split effective June 29, 2020, see note 11.A.

Weighted average number of Ordinary Shares:


   Year ended
December 31		 
   2018(*)   2019(*)   2020 
   Thousands
of		   Thousands
of		   Thousands
of		 
   shares of
NIS 5.0		   shares of
NIS 5.0		   shares of
NIS 5.0		 
   par value   par value   par value 
Balance as at January 1   1,240    1,932    4,179 
Effect of share options exercised   1    135    9 
Effect of warrants exercised   -    -    1,184 
Effect of conversion of notes   -    -    1,236 
Effect of shares issued during the year   595    1,446    36,339 
Weighted average number of Ordinary Shares used to calculate basic and diluted earnings (loss) per share as at December 31   1,836    3,513    42,947 

(*) All the figures in this note were adjusted to reflect the 1:50 reverse split effective June 29, 2020, see note 11.A.
v3.20.4
Share-Based Payment
 12 Months Ended
Dec. 31, 2020
Share-Based Payment [Abstract]  
Share-based payment

Note 17 – Share-based payment


A. During 2018, the Company granted to employees, a consultant and officers 2,652,500 non-tradable share options, which are exercisable into 2,652,500 Ordinary Shares. The share options vest over a period of one to three years. The share options will be exercisable during the earlier of a period of four years from the vesting date, or 90 days from the end of employment date in consideration for an exercise price ranging between $0.28 to $1.59 for each share option. Some of the share options include a cashless exercise mechanism.

During 2019, the Company granted to employees, officers and consultants 6,029,000 non-tradable share options, which are exercisable into 6,029,000 Ordinary Shares. The share options vest over a period of three years. The share options will be exercisable during the earlier of a period of four years from the vesting date, or 90 days from the end of employment date in consideration for an exercise price ranging between $0.14 to $0.17 for each share option. Some of the share options include a cashless exercise mechanism.


During 2019, the Company granted to employees 2,723,500 restricted shares units (“RSUs”). The RSUs represent the right to receive Ordinary Shares at a future time and vest over a period of three years.


During 2020, the Company granted to employees, officers and consultants 5,400,000 non-tradable share options, which are exercisable into 5,400,000 Ordinary Shares. The share options vest over a period of three years. The share options will be exercisable during the earlier of a period of four years from the vesting date, or 90 days from the end of employment date in consideration for an exercise price ranging between $0.70 to $4.12 for each share option. Some of the share options include a cashless exercise mechanism.


During 2020, the Company granted to employees 1,530,000 RSUs. The RSUs represents the right to receive Ordinary Shares at a future time and vest over a period of three years.


During 2020, the Company granted to underwriters in public offerings in the U.S. an aggregate of 7,365,289 warrants, which are exercisable into 7,365,289 Ordinary Shares. The exercise prices range between $0.875 to $9.375 for each warrant. The warrants are exercisable 6 months from the issuance date, and expire 5 years after the issuance date.


B. In January 2018, the Company issued non-tradable share options to purchase 300,000 Ordinary Shares to directors of the Company at an exercise price of $1.59 per share. The share options will vest in 12 equal quarterly batches over a period of three years. The share options will be exercisable during the earlier of a period of four years from the vesting date, or 90 days from the end of employment date. 275,000 of the share options include a cashless exercise mechanism.

In July 2019, the Company issued non-tradable share options to purchase 2,545,000 Ordinary Shares to directors of the Company at an exercise price of $0.15 per share. One third of the share options will vest after one year from the grant date, and the remaining will vest in eight equal quarterly batches over a period of two years. The share options will be exercisable during the earlier of a period of four years from the vesting date, or 90 days from the end of employment date.


In July 2020, the Company issued non-tradable share options to purchase 440,000 Ordinary Shares to directors of the Company at an exercise price of $0.70 per share. The share options are vested over a period of no more than 3 years from the grant date. The share options will be exercisable during the earlier of a period of four years from the vesting date, or 90 days from the end of employment date.


In December 2019, the Company signed an agreement for options grants in January 2, 2020 to purchase 286,172 ADSs with Yoav Stern, the Company’s Chief Executive Officer (“CEO”) and President, with an exercise price of $2.86 per ADS. The vesting start date of the share options is January 2, 2020.


In March 2020, the Company issued options to purchase 294,828 ADSs to Yoav Stern, the Company’s CEO and President, with an exercise price of $1.09 per ADS. 99.9% of the options vest at the grant date, and the remaining options will vest 3 years after the grant date.


In August 2020, following the approval of our shareholders, in consideration for his services as the Company’s President and CEO, and as appropriate incentive, the Company entered into a private placement of warrants (the “Stern Transaction”) with its CEO and President, Mr. Yoav Stern. In consideration of $150,000, the Company issued to Mr. Stern warrants to purchase 6,880,402 ADSs of the Company. The warrants have an exercise price of $0.75 per ADS, will vest over a period of two and a half years and will expire after 7 years. Simultaneously with the issuance of the warrants, Mr. Stern forfeited options to purchase 581,000 ADSs, previously granted to him, as described above. In addition, as long as Mr. Stern is employed by the Company or is a member of the Company’s board of directors, Mr. Stern may invest an additional amount up to $50,000 to buy Series B Warrants, in an amount equal to 10% of the Company’s fully diluted capital. The exercise price per ADS under the Series B Warrants will be the average of the daily volume weighted average price of the ADSs for the 10 consecutive trading days ending on the trading day that is immediately prior to the date of the applicable notice to purchase the Series B Warrants. The grant of the warrants was treated as a modification of the terms of equity-classified share based payment under IFRS 2. The fair value of the grant was measured at the grant date in an amount of approximately $18.7 million, and is recorded as share-based compensation expenses through the vesting period. In the same general meeting that approved the Stern Transaction, the Company’s shareholders approved the amended terms of compensation of the Company’s CEO and President. After the reporting date, in January 2021, Mr. Stern exercised 30% of the series A warrants.


In September 2020, the Company issued 1,500,000 warrants to purchase 1,500,000 ADSs to the Company’s director, Mr. Yaron Eitan, in consideration of $150,000. The warrants have an exercise price of $2.25 per ADS, will vest over a period of three years and will expire after 7 years.


C.

The fair value of share options is measured using the Black-Scholes formula or the Binomial 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 following is the data used in determining the fair value of the share options granted:


    17.A-
Consultants and Employees		     17.B-
Directors and CEO (*)		  
Number of share options granted     14,638,264        8,942,202 (*)
Fair value in the grant date (thousands USD)     43,979       23,434  
Range of share price (USD)     0.74-89.83       1.38-94.64  
Range of exercise price (USD)     0-114.77       0.7-92.04  
Range of expected share price volatility     40.3%-104.96 %     53.75-104.96 %
Range of estimated life (years)     4-9       4-7  
Range of weighted average of risk-free interest rate     0.36-1.98 %     0.88%-1.32 %
Expected dividend yield     -       -  
Outstanding as of December 31, 2020     12,603,828       8,839,482  
Exercisable as of December 31, 2020     880,734       8,679,113  

(*) The options granted to directors and the CEO do not include the series B warrants which the CEO is entitled to purchase, since the number of those warrants is not yet determined.

D. The number of share options and RSUs granted to employees and consultants, and included in Note 17.A are as follows:

    2019(*)     2020  
Outstanding at January 1     112,944       521,138  
Granted during the year     461,223       14,295,289  
Exercised during the year     (24 )     (1,703,902 )
Forfeited or expired during the year     (53,005 )     (508,697 )
Outstanding at December 31     521,138       12,603,828  
Exercisable as of December 31     53,831       880,734  

The number of share options granted to directors and the CEO included in Note 17.B are as follows:


    2019     2020  
Outstanding at January 1     41,400       78,435  
Granted during the year     50,900       8,820,402  
Exercised during the year     -       -  
Forfeited or expired during the year     (13,865 )     (59,355 )
Outstanding at December 31     78,435       8,839,482  
Exercisable as of December 31     40,275       8,679,113  

E. The share-based payments expenses in 2020 were $20,502,000 (in 2019: $445,000). In addition, the fair value of the warrants granted to underwriters in 2020 were $25,718,000 and has been recorded as a deduction of share premium.
v3.20.4
Financial Instruments
 12 Months Ended
Dec. 31, 2020
Financial Instruments [Abstract]  
Financial instruments

Note 18 – Financial instruments


A. Risk management policy

The actions of the Group expose it to various financial risks, such as a market risk (including a currency risk, fair value risk regarding interest rate and price risk), credit risk, liquidity risk and cash flow risk for the interest rate. The comprehensive risk-management policy of the Group focuses on actions to limit the potential negative impacts on financial performance of the Group to a minimum. The Group does not typically use derivative financial instruments in order to hedge exposures. Risk management is performed by the Group’s CEO in accordance with the policy approved by the board of directors.


B. Credit risk

The Group does not have a significant concentration of credit risks.


The cash of the Group is deposited in Israeli and U.S. banking corporations. In the estimation of the Group’s management, the credit risk for these financial instruments is low.


In the estimation of the Group’s management, it does not have any expected credit losses.


C. Currency risk

A currency risk is the risk of fluctuations in a financial instrument, as a result of changes in the exchange rate of the foreign currency.


The following is the classification and linkage terms of the financial instruments of the Group (in thousands USD):


   NIS   Linked to the U.S. dollar   Linked to the Euro and other   Total
December 31, 2020                
Cash   1,057    584,205    76    585,338 
Bank deposits   -    85,596    -    85,596 
Restricted deposits   406    62    -    468 
Trade receivables   17    534    162    713 
Other receivables   410    19    -    429 
    1,890    670,416    238    672,544 
Financial liabilities at amortized cost   4,366    16,134    45    20,545 
Total net financial assets (liabilities)   (2,476)   654,282    193    651,999 
                     
December 31, 2019                    
Cash   348    3,536    10    3,894 
Restricted deposits   377    31    -    408 
Trade receivables   -    1,586    230    1,816 
Other receivables   342    -    -    342 
    1,067    5,153    240    6,460 
Financial liabilities at amortized cost   4,503    6,740    13    11,256 
Total net financial assets (liabilities)   (3,436)   (1,587)   227    (4,796)

The following is a sensitivity analysis of changes in the exchange rate of the NIS as of the reporting date:


    Profit (loss)
from the change		  
    Thousands
USD		  
Increase at a rate of 5%     (124 )
Increase at a rate of 10%     (248 )
Decrease at a rate of 5%     124  
Decrease at a rate of 10%     248  

D. Fair value of financial instruments

   December 31, 2020 
   Level 1   Level 2   Level 3   Total 
   Thousands
USD		   Thousands
USD		   Thousands
USD		   Thousands
USD		 
Financial liabilities:                
Warrants            -    11,636        -    11,636 
Financial derivatives   -    350    -    350 
Total   -    11,986    -    11,986 

   December 31, 2019 
   Level 1   Level 2   Level 3   Total 
   Thousands
USD		   Thousands
USD		   Thousands
USD		   Thousands
USD		 
Financial liabilities:                
Warrants          -    793    1,364    2,157 
Convertible notes   -    -    1,223    1,223 
Financial derivatives   -    -    318    318 
Total   -    793    2,905    3,698 

Details regarding fair value measurement at Level 2


The fair value of the warrants was measured using the Black-Scholes model. The following inputs were used to determine the fair value:


Expected term of warrant (1) – 3.1-3.68 years.


Expected volatility (2) – 118.77%-128.1%.


Risk-free rate (3) – 0.17%.-0.24%


Expected dividend yield – 0%.


  (1) Based on contractual terms.

  (2) Based on the historical volatility of the Company’s Ordinary Shares and ADSs.

  (3) Based on traded zero-coupon U.S. treasury bonds with maturity equal to expected terms.

E. Liquidity risk

The table below presents the repayment dates of the Group’s financial liabilities based on the contractual terms in undiscounted amounts:


    First year     More than a year     Total  
    Thousands
USD		     Thousands
USD		     Thousands
USD		  
December 31, 2020                  
Trade payables     776       -       776  
Other payables     5,910       -       5,910  
Lease liabilities     -       2,618       2,618  
Liability in respect of government grants     -       850       850  
      6,686       3,468       10,154  
December 31, 2019                        
Trade payables     850       -       850  
Other payables     3,547       28       3,575  
Lease liabilities     -       2,089       2,089  
Liability in respect of government grants     -       1,044       1,044  
      4,397       3,161       7,558  
v3.20.4
Leases
 12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Leases

Note 19 – Leases


The Group applies IFRS 16 as from January 1, 2019. The Group has lease agreements with respect to the following items:


  1. Offices, labs and manufacturing facilities

  2. Vehicles

Information regarding material lease agreements


  a. The Group leases vehicles for 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 Group’s headquarter staff, marketing and sales persons and other employees whose employment agreements include an obligation of the Group to put a vehicle at their disposal. The Group accounted for the arrangement between it and the leasing companies as a lease arrangement in the scope of IFRS 16 and for the arrangement between it and its employees as an arrangement in the scope of IAS 19, Employee Benefits. The agreements with the leasing companies do not contain extension and/or termination options that the Group is reasonably certain to exercise.

A lease liability in the amount of $106,000 and right-of-use asset in the amount of $91,000 have been recognized in the statement of financial position as at December 31, 2020 in respect of leases of vehicles.


  b. The Group leases offices in Ness- Ziona from Africa-Israel for a period of five years under a few different contracts for three different floors used for offices, labs and manufacturing facilities, at the same building. The contractual periods of the aforesaid lease agreements end in August 2021, August 2024 and December 2023. The Group has an option to extend two of the lease agreements for an additional five years for an additional monthly fee (10% increase). The Company expects to extend the lease agreement ended in August 2021 for an additional five years. The Group also leases offices in Hong-Kong. The contractual period of the aforesaid lease agreement ended in February 2021. The Group also leases offices in the U.S. for a contractual period of three years, which ends in August 2023. A lease liability in the amount of $3,660,000 and right-of-use asset in the amount of $3,078,000 have been recognized in the statement of financial position as at December 31, 2020 in respect of leases of offices.

Right of use assets:


   Buildings   Vehicles   Total 
   Thousands
USD		   Thousands
USD		   Thousands
USD		 
Balance as at January 1, 2019   1,687    204    1,891 
Depreciation   706    136    842 
Additions   1,525    99    1,624 
Balance as at January 1, 2020   2,506    167    2,673 
                
Depreciation  740   116   856 
Disposals   -    69    69 
Additions   1,312    109    1,421 
Balance as at December 31, 2020   3,078    91    3,169 

During the year ended December 31, 2020 and 2019, the Company paid a total of $1,118 thousands and $1,095 thousands, respectively, for lease payments.


See also note 14 regarding finance expenses in respect of lease liability.


Maturity analysis of the Group’s lease liabilities:


   December 31,
2020		 
   Thousands
USD		 
Less than one year  1,148 
One to five years   2,618 
Total   3,766 
      
Current maturities of lease liability   1,148 
      
Long-term lease liability   2,618 
v3.20.4
Transactions and balances with related parties
 12 Months Ended
Dec. 31, 2020
Transactions and balances with related parties [Abstract]  
Transactions and balances with related parties

Note 20 – Transactions and balances with related parties


A. Balances with related parties

   December 31, 
   2019   2020 
   Thousands
USD		   Thousands
USD		 
Other payables   130    207 

B. Shareholders and other related parties benefits

   Year ended on December 31, 
   2018   2019   2020 
   Thousands
USD		   Thousands
USD		   Thousands
USD		 
Salaries and related expenses- related parties employed by the Group   829    1,047    18,252(*)
Number of related parties   4    4    5 
Compensation for directors not employed by the Group   311    218    2,204 
Number of directors   7    6    6 

(*) Includes share-based payment expenses of $16,666,000, see note 17.B regarding warrants issued to the CEO.

C.

On November 20, 2017, the board of directors of the Company approved a non-exceptional transaction in which Mr. Avi Reichental, a then director of the Company, has a personal interest, for open innovation and show room agreements between Nano Dimension USA Inc. and XponentialWorks Inc. and Techniplas, LLC, whereby the Company will lease space and use sales and marketing services in favor of the customer experience center in Ventura, CA, as well as establish cooperation in the field of car electronics starting on December 1, 2017. In March 2019, the Company ceased the obligations with XponentialWorks Inc. and Techniplas. LLC.

   
D. On November 12, 2019, the board of directors of the Company approved an arms-length transaction in which Mr. Ofir Baharav, the former chairman of the board of directors of the Company, has a personal interest, for an administrative services agreement between Nano Dimension USA Inc. and Breezer Holdings LLC, whereby the Company will lease space and will use logistics services for the Company’s office in Boca Raton, Florida, starting on February 1, 2020. In September 2020, the Company ceased this transaction.

E. On December 5, 2019, the Company announced the appointment of Yoav Stern as CEO and President, effective January 2, 2020. See note 17.B regarding options granted to the CEO.

F.

On July 7, 2020, following approval of the general meeting of the Company’s shareholders, the Company granted options to purchase 1,000,000 ADSs to officer and additional 440,000 ADSs and directors of the Company at an exercise price of $0.70 per ADS. 


G. On July 7, 2020, the Company issued warrants to the Company’s President and CEO, Mr. Yoav Stern. See note 17.B.

H. In August 2020, the Company issued warrants to the Company’s director, Mr. Yaron Eitan, see note 17.B
v3.20.4
Events after the reporting date
 12 Months Ended
Dec. 31, 2020
Disclosure of non-adjusting events after reporting period [Abstract]  
Events after the reporting date

Note 21 – Events after the reporting date


A. After the reporting period, in January and February 2021, the Company issued, pursuant to two public offerings in the United States, an aggregate of 74,100,000 Ordinary Shares and 1,137,500 non-tradable warrants to the underwriters. The total gross proceeds from the offerings were approximately $833,000,000, before deducting underwriting discounts and commissions and other offering-related expenses.
v3.20.4
Accounting Policies, by Policy (Policies)
 12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
Basis for presentation of the financial statements
A. Basis for presentation of the financial statements

The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board. 


The consolidated financial statements have been prepared on the historical cost basis, except when otherwise indicated.


The consolidated financial statements were authorized for issuance by the Company’s board of directors on March 10, 2021.
Use of estimates and judgments
B. Use of estimates and judgments

The preparation of financial statements in conformity with IFRS as issued by the International Accounting Standards Board requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.


The preparation of accounting estimates used in the preparation of the Group’s financial statements requires management of the Company to make assumptions regarding circumstances and events that involve considerable uncertainty. Management of 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.


Below is information about significant assumptions made by the Group with respect to estimates and judgments:


  - Fair value measurement of financial instruments

The Company accounts for financial liabilities relating to convertible notes, warrants and related derivatives at fair value through profit or loss. The fair values of these instruments are determined by using the Monte Carlo simulation method and the Black-Scholes model and assumptions regarding unobservable inputs used in the valuation model including the probability of meeting revenue targets, and weighted average cost of capital, all of which can lead to profit or loss from a change in the fair value of these instruments.


For information on details regarding fair value measurement at Level 2 and sensitivity analysis see Note 18.D regarding financial instruments.


  - Share-based payment transactions

Estimating fair value for share-based payment transactions requires determination of the most appropriate valuation model, which depends on the terms and conditions of the grant. This estimate also requires determination of the most appropriate inputs to the valuation model, including the expected life of the share option and volatility and making assumptions about them. For the measurement of the fair value of equity-settled transactions at the grant date, the Company uses the Black-Scholes formula or the Binomial pricing model.
Basis of consolidation Subsidiaries
C.Basis of consolidation Subsidiaries

A subsidiary is an entity controlled by the Company. The Company controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of the subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control is lost. The accounting policies of the subsidiaries are aligned with the policies adopted by the Group.
Functional currency and presentation currency
D. Functional currency and presentation currency

  (1) Functional and presentation currency

These consolidated financial statements are presented in U.S. dollars (“USD”), which is the Company’s functional currency, and have been rounded to the nearest thousands, except when otherwise indicated. The USD is the currency that represents the principal economic environment in which the Company operates.


  (2) Foreign currency transactions

Transactions in currencies other than the U.S. dollar are translated to the functional currency of the Group at exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated to the functional currency at the exchange rate at that date. The foreign currency gain or loss on monetary items is the difference between amortized cost in the functional currency at the beginning of the year, adjusted for effective interest and payments during the year, and the amortized cost in foreign currency translated at the exchange rate at the end of the year.


Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction.


Foreign currency differences arising on translation are recognized in profit or loss.


  (3) Index linked financial items

Financial assets and liabilities which according to their terms are linked to changes in the Israeli Consumer Price Index (the “Index”) are adjusted according to the relevant Index on every reporting date in accordance with the terms of the agreement. Linkage differences deriving from said adjustment are recorded to profit and loss.


  (4) Below are details regarding the exchange rate of the New Israeli Shekel (“NIS”) and the Euro and the Index of the NIS:

   Consumer Price Index   Euro   NIS 
December 31, 2020   101.1    1.22    0.31 
December 31, 2019   101.8    1.12    0.29 
December 31, 2018   101.2    1.14    0.27 
Change in percentages:               
Year ended December 31, 2020   (0.69)   (9.32)   (2)
Year ended December 31, 2019   0.6    (2)   8.45)
Year ended December 31, 2018   0.8    (4.4)   (7.5 
Financial instruments
E. Financial instruments

  (1) Non-derivative financial assets

Initial recognition and measurement of financial assets


The Group initially recognizes trade receivables on the date that they are created. All other financial assets are recognized initially on the trade date at which the Group becomes a party to the contractual provisions of the instrument. A financial asset is initially measured at fair value plus transaction costs that are directly attributable to the acquisition or issuance of the financial asset. A trade receivable without a significant financing component is initially measured at the transaction price. Receivables originating from contract assets are initially measured at the carrying amount of the contract assets on the date classification was changed from contract asset to receivables.


Derecognition of financial assets


Financial assets are derecognized when the contractual rights of the Group to the cash flows from the asset expire, or the Group transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset were transferred. When the Group retains substantially all of the risks and rewards of ownership of the financial asset, it continues to recognize the financial asset.


Classification of financial assets into categories and the accounting treatment of each category


Financial assets are classified at initial recognition to one of the following measurement categories: amortized cost; fair value through other comprehensive income – investments in debt instruments; fair value through other comprehensive income – investments in equity instruments; or fair value through profit or loss.


The Group does not expect to incur any credit loss, thus the financial statements do not include provision for expected credit loss.


All financial assets not classified as measured at amortized cost or fair value through other comprehensive income as described above, as well as financial assets designated at fair value through profit or loss, are measured at fair value through profit or loss. On initial recognition, the Group designates financial assets at fair value through profit or loss if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise.


The Group has balances of cash, trade and other receivables and deposits that are held within a business model whose objective is collecting contractual cash flows. The contractual cash flows of these financial assets represent solely payments of principal and interest that reflect consideration for the time value of money and the credit risk. Accordingly, these financial assets are measured at amortized cost.


Cash includes cash balances available for immediate use. Deposits include short-term deposits with banking corporations (with original maturities of three months or more) that are readily convertible into known amounts of cash and are exposed to insignificant risks of change in value.


  (2) Non-derivative financial liabilities

Non-derivative financial liabilities include trade and other payables.


Initial recognition of financial liabilities


The Group initially recognizes financial liabilities on the trade date at which the Group becomes a party to the contractual provisions of the instrument.


Subsequent measurement of financial liabilities


Financial liabilities are recognized initially at fair value less any directly attributable transaction costs. Subsequent to initial recognition these financial liabilities are measured at amortized cost using the effective interest method. Transaction costs directly attributable to an expected issuance of an instrument that will be classified as a financial liability are recognized as an asset in the framework of deferred expenses in the statement of financial position. These transaction costs are deducted from the financial liability upon its initial recognition, or are amortized as financing expenses in the statement of profit or loss and other comprehensive income when the issuance is no longer expected to occur.


Derecognition of financial liabilities


Financial liabilities are derecognized when the obligation of the Group, as specified in the agreement, expires or when it is discharged or cancelled.


Offset of financial instruments


Financial assets and liabilities are offset and the net amount presented in the statement of financial position when, and only when, the Company currently has a legal right to offset the amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously.


Measurement of derivative financial instruments


Derivatives are recognized initially at fair value attributable transaction costs are recognized in profit or loss as incurred. Subsequent to initial recognition, derivatives are measured at fair value, and changes therein are recognized in profit or loss, as financing income or expense.
Property plant and equipment
F. Property plant and equipment

Property plant and equipment are presented according to cost, including directly attributed acquisition costs, minus accumulated depreciation and losses from accrued decrease in value. Improvements and upgrades are included in the assets’ costs whereas maintenance and repair costs are recognized in profit and loss as accrued.


Gains and losses on disposal of a fixed asset item are determined by comparing the net proceeds from disposal with the carrying amount of the asset, and are recognized in their corresponding section, in profit or loss.


The cost of printers used for internal purposes, which are classified as property, plant and equipment, includes the cost of materials and direct labor, and any other costs directly attributable to bringing the assets to a working condition for their intended use.


The depreciation is calculated in equal yearly rates during the period of the useful life span of the assets, as follows:


    %
Machinery and equipment (mainly 7%)   7 – 25
Computers   20 – 33
Office furniture and equipment   7 – 15
Leasehold Improvements   7 – 10
Printers leased to customers   25

Depreciation methods, useful lives and residual values are reviewed at the end of each reporting year and adjusted if appropriate.
Inventory
G. Inventory

Inventories are measured at the lower of cost and net realizable value. The cost of inventories is based on the weighted averages method, and includes expenditure incurred in acquiring the inventories and the costs incurred in bringing them to their existing location and condition. In the case of manufactured inventories and work in progress, cost includes an appropriate share of production overheads based on normal operating capacity. Net realizable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and selling expenses.
Impairment of non-financial assets
H. Impairment of non-financial assets

The carrying amounts of the Group’s non-financial assets are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated.


The recoverable amount of an asset is the greater of its value in use and its fair value, minus the costs of disposal. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects the assessments of market participants regarding the time value of money and the risks specific to the asset, for which the estimated future cash flows from the asset were not adjusted.


An impairment loss is recognized if the carrying amount of an asset exceeds its estimated recoverable amount. Impairment losses are recognized in profit or loss.
Provisions
I. Provisions

A provision for claims is recognized if, as a result of a past event, the Group has a present legal or constructive obligation that can be estimated reliably and it is probable that an outflow of economic benefits will be required to settle the obligation. When the value of time is material, the provision is measured at its present value.
Treasury shares and Ordinary Shares
J. Treasury shares and Ordinary Shares

When share capital recognized as equity is repurchased by the Group, the amount of the consideration paid, which includes directly attributable costs, net of any tax effects, is recognized as a deduction from equity. Repurchased shares are classified as treasury shares. When treasury shares are sold or reissued subsequently, the amount received is recognized as an increase in equity, and the resulting surplus on the transaction is carried to share premium, whereas a deficit on the transaction is deducted from retained earnings.


Ordinary Shares are classified as equity. Incremental costs directly attributable to the issuance of Ordinary Shares and share options are recognized as a deduction from equity, net of any tax effects.
Revenue recognition
K. Revenue recognition

The Company recognizes revenue when the customer obtains control over the promised goods or services. The revenue is measured according to the amount of the consideration to which the Company expects to be entitled in exchange for the goods or services promised to the customer, other than amounts collected for third parties.


The Company accounts for a contract with a customer only when the following conditions are met:


  (a) The parties to the contract have approved the contract (in writing, orally or according to other customary business practices) and they are committed to satisfying the obligations attributable to them;
     
  (b) The Company can identify the rights of each party in relation to the goods or services that will be transferred;

  (c) The Company can identify the payment terms for the goods or services that will be transferred;
     
  (d) The contract has a commercial substance (i.e. the risk, timing and amount of the entity’s future cash flows are expected to change as a result of the contract); and
     
  (e) It is probable that the consideration, to which the Company is entitled to in exchange for the goods or services transferred to the customer, will be collected.

If a contract with a customer does not meet all of the above criteria, consideration received from the customer is recognized as a liability until the criteria are met or when one of the following events occurs: the Company has no remaining obligations to transfer goods or services to the customer and any consideration promised by the customer has been received and cannot be returned; or the contract has been terminated and the consideration received from the customer cannot be refunded. 


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.


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. SSP are estimated for each distinct performance obligation and judgment may be required in their determination. The best evidence of SSP is the estimated price of a product or service if the Company would sell them separately in similar circumstances and to similar customers.


The Company allocates the transaction price to the identified performance obligations based on the residual approach, while allocating the estimated standalone selling prices for performance obligations relating to maintenance, training and installation services, and the residual is allocated to the printer.


Revenues allocated to the 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 during the time of performance.


A contract asset is recognized when the Group has a right to consideration for goods or services it transferred to the customer that is conditional on other than the passing of time, such as future performance of the Group. Contract assets are classified as receivables when the rights in their respect become unconditional.


A contract liability is recognized when the Group has an obligation to transfer goods or services to the customer for which it received consideration (or the consideration is payable) from the customer.
Research and development and intangible assets
L. Research and development and intangible assets

Expenditure on research activities, undertaken with the prospect of gaining new scientific or technical knowledge and understanding, is recognized in profit or loss when incurred.


Development activities involve a plan or design for the production of new or substantially improved products and processes. Development expenditure is capitalized only if development costs can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable, and the Group has the intention and sufficient resources to complete development and to use or sell the asset.


The expenditure capitalized in respect of development activities includes the cost of materials, direct labor and overhead costs that are directly attributable to preparing the asset for its intended use.


In the fourth quarter of 2016, the Group ceased to capitalize development expenses and began to amortize the intangible asset arising from capitalization of development expenses, upon the initiation of its beta program. In subsequent periods, capitalized development expenditure is measured at cost minus accumulated amortization and accumulated impairment losses.
Amortization of intangible assets
M. Amortization of intangible assets

Amortization is a systematic allocation of the amortizable amount of an intangible asset over its useful life. The amortizable amount is the cost of the asset, minus its residual value. Amortization is recognized in profit or loss on a straight-line basis, over the estimated useful lives of the intangible assets from the date they are available for use, since these methods most closely reflect the expected pattern of consumption of the future economic benefits embodied in each asset.


The estimated useful lives of the capitalized development costs have been determined by the Company’s management as 10 years. Amortization methods, useful lives and residual values are reviewed at the end of each reporting year and adjusted if appropriate.
Government grants
N. Government grants

Government grants are recognized initially at fair value when there is reasonable assurance that they will be received and the Group will comply with the conditions associated with the grant.


Grants from the Israeli Innovation Authority (the “Innovation Authority”), with respect to research and development projects, are accounted for as forgivable loans according to International Accounting Standard (“IAS”) 20, Accounting for Government Grants and Disclosure of Government Assistance. Grants received from the Innovation Authority are recognized as a liability according to their fair value on the date of their receipt, unless it is reasonably certain, on that date, that the amount received will not be refunded. The amount of the liability is reexamined each period, and any changes in the present value of the cash flows discounted at the original interest rate of the grant are recognized in profit or loss. The difference between the amount received and the fair value on the date of receiving the grant is recognized as a deduction of research and development expenses. Expenses related to revaluation of the liability in respect of government grants were recognized in the statements of profit or loss and other comprehensive income as finance expenses.
Leases
O. Leases

Policy applicable before January 1, 2019


Determining whether an arrangement contains a lease


At inception or upon reassessment of an arrangement, the Group determines whether such an arrangement is or contains a lease. An arrangement is a lease or contains a lease if the following two criteria are met:


  ● The fulfilment of the arrangement is dependent on the use of a specific asset or assets; and

  ● The arrangement contains rights to use the asset.

Leases that do not transfer substantially all the risks and rewards incidental to ownership of an underlying asset were classified as operating leases.


The Group recognized operating lease payments as expenses on a straight-line basis over the lease term.


Policy applicable from January 1, 2019


Determining whether an arrangement contains a lease


On the inception date of the lease, the Group determines whether the arrangement is a lease or contains a lease, while examining if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. In its assessment of whether an arrangement conveys the right to control the use of an identified asset, the Group assesses whether it has the following two rights throughout the lease term:


  (a) The right to obtain substantially all the economic benefits from use of the identified asset; and

  (b) The right to direct the identified asset’s use.

For lease contracts that contain non-lease components, such as services or maintenance, that are related to a lease component, the Group elected to account for the contract as a single lease component without separating the components.


Leased assets and lease liabilities


Contracts that award the Group control over the use of a leased asset for a period of time in exchange for consideration, are accounted for as leases. Upon initial recognition, the Group recognizes a liability at the present value of the balance of future lease payments (these payments do not include certain variable lease payments), and concurrently recognizes a right-of-use asset at the same amount of the lease liability, adjusted for any prepaid or accrued lease payments, plus initial direct costs incurred in respect of the lease.


Since the interest rate implicit in the Group’s leases is not readily determinable, the incremental borrowing rate of the lessee is used. Subsequent to initial recognition, the right-of-use asset is accounted for using the cost model, and depreciated over the shorter of the lease term or useful life of the asset.


The Group has elected to apply the practical expedient by which short-term leases of up to one year and/or leases in which the underlying asset has a low value, are accounted for such that lease payments are recognized in profit or loss on a straight-line basis, over the lease term, without recognizing an asset and/or liability in the statement of financial position.


The lease term


The lease term is the non-cancellable period of the lease plus periods covered by an extension or termination option if it is reasonably certain that the lessee will or will not exercise the option, respectively.


Variable lease payments


Variable lease payments that depend on an index or a rate, are initially measured using the index or rate existing at the commencement of the lease and are included in the measurement of the lease liability. When the cash flows of future lease payments change as the result of a change in an index or a rate, the balance of the liability is adjusted against the right-of-use asset.


Other variable lease payments that are not included in the measurement of the lease liability are recognized in profit or loss in the period in which the event or condition that triggers payment occurs.


Depreciation of right-of-use asset


After lease commencement, a right-of-use asset is measured on a cost basis less accumulated depreciation and accumulated impairment losses and is adjusted for re-measurements of the lease liability. Depreciation is calculated on a straight-line basis over the useful life or contractual lease period, whichever is earlier, as follows:


  ● Buildings 1-5 years
  ● Motor vehicles 3 years

Reassessment of lease liability


Upon the occurrence of a significant event or a significant change in circumstances that is under the control of the Group and had an effect on the decision whether it is reasonably certain that the Group will exercise an option, which was not included before in the lease term, or will not exercise an option, which was previously included in the lease term, the Group re-measures the lease liability according to the revised leased payments using a new discount rate. The change in the carrying amount of the liability is recognized against the right-of-use asset, or recognized in profit or loss if the carrying amount of the right-of-use asset was reduced to zero.


Lease modifications


When a lease modification increases the scope of the lease by adding a right to use one or more underlying assets, and the consideration for the lease increased by an amount commensurate with the stand-alone price for the increase in scope and any appropriate adjustments to that stand-alone price to reflect the contract’s circumstances, the Group accounts for the modification as a separate lease.


In all other cases, on the initial date of the lease modification, the Group allocates the consideration in the modified contract to the contract components, determines the revised lease term and measures the lease liability by discounting the revised lease payments using a revised discount rate.


For lease modifications that decrease the scope of the lease, the Group recognizes a decrease in the carrying amount of the right-of-use asset in order to reflect the partial or full cancellation of the lease, and recognizes in profit or loss a profit (or loss) that equals the difference between the decrease in the right-of-use asset and re-measurement of the lease liability.


For other lease modifications, the Group re-measures the lease liability against the right-of-use asset.
Financing income and expenses
P. Financing income and expenses

Financing income is comprised of interest income on deposits, revaluation of liability in respect of government grants, foreign currency gains and fair value changes of financial liabilities through profit and loss.


Financing expenses are comprised of bank fees, exchange rate differences, revaluation of liability in respect of government grants and fair value changes of financial liabilities through profit and loss.


Foreign currency gains and losses on financial assets and financial liabilities are reported on a net basis as either financing income or financing expenses depending on whether foreign currency movements are in a net gain or net loss position.
Employee benefits
Q. Employee benefits

Severance pay


The Group’s liability for severance pay for its employees is calculated pursuant to Israeli Severance Pay Law (1963) (the “Severance Pay Law”). The Group’s liability is covered by monthly deposits with severance pay funds and insurance policies. For all of the Group’s employees, the payments to pension funds and to insurance companies exempt the Group 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 (as defined below). Accumulated amounts in pension funds and in insurance companies are not under the Group’s control or management and, accordingly, neither those amounts nor the corresponding accrual for severance pay are presented in the consolidated statements of financial position.


A defined contribution plan is a post-employment benefit plan under which an entity pays fixed contributions into a separate entity and has no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution pension plans are recognized as an expense in profit or loss in the periods during which related services are rendered by employees.


Share-based payment transactions


The grant date fair value of share-based payment awards granted to employees is recognized as a salary expense, with a corresponding increase in equity, over the period that the employees become unconditionally entitled to the awards. Share-based payment arrangements in which the subsidiary grants rights to parent company equity instruments to its employees are accounted for by the Group as equity-settled share-based payment transactions.
Loss per share
R. Loss per share

The Group presents basic and diluted loss per share for its Ordinary Shares. Basic loss per share is calculated by dividing the loss attributable to holders of Ordinary Shares of the Company by the weighted average number of Ordinary Shares outstanding during the year, adjusted for treasury shares. Diluted loss per share is determined by adjusting the loss attributable to holders of Ordinary Shares of the Company and the weighted average number of Ordinary Shares outstanding, after adjustment for treasury shares, for the effects of all dilutive potential Ordinary Shares.
v3.20.4
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2020
Summary of Significant Accounting Policies [Abstract]  
Schedule of details regarding the exchange rate
   Consumer Price Index   Euro   NIS 
December 31, 2020   101.1    1.22    0.31 
December 31, 2019   101.8    1.12    0.29 
December 31, 2018   101.2    1.14    0.27 
Change in percentages:               
Year ended December 31, 2020   (0.69)   (9.32)   (2)
Year ended December 31, 2019   0.6    (2)   8.45)
Year ended December 31, 2018   0.8    (4.4)   (7.5 
Schedule of property plant and equipment, useful life span of the assets
    %
Machinery and equipment (mainly 7%)   7 – 25
Computers   20 – 33
Office furniture and equipment   7 – 15
Leasehold Improvements   7 – 10
Printers leased to customers   25
v3.20.4
Cash and Restricted Deposits (Tables)
 12 Months Ended
Dec. 31, 2020
Disclosure Of Cash And Restricted Deposits Explanatory [Abstract]  
Schedule of components of cash
    December 31,  
    2019     2020  
    Thousands
USD		     Thousands
USD		  
Bank accounts- dominated in NIS   348     1,057  
Bank accounts- dominated in USD     3,536       584,205  
Bank accounts- other     10       76  
      3,894       585,338  
v3.20.4
Trade Receivables and Other Receivables (Tables)
 12 Months Ended
Dec. 31, 2020
Trade and other receivables [Abstract]  
Schedule of trade receivables
   December 31, 
   2019   2020 
   Thousands
USD		   Thousands
USD		 
Open balances  1,816   713 
Schedule of other receivables
   December 31, 
   2019   2020 
   Thousands
USD		   Thousands
USD		 
Government authorities   332    400 
Prepaid expenses   221    696 
Others   17    30 
    570    1,126 
v3.20.4
Inventory (Tables)
 12 Months Ended
Dec. 31, 2020
Inventory [Abstract]  
Schedule of inventory
   December 31, 
   2019   2020 
   Thousands
USD		   Thousands
USD		 
Raw materials and work in progress (*)   2,636    2,692 
Finished goods   907    622 
    3,543    3,314 
(*)A part of the raw materials and work in progress are expected to be sold in a period longer than the operating cycle of the Company.
v3.20.4
Property Plant and Equipment, Net (Tables)
 12 Months Ended
Dec. 31, 2020
Property, plant and equipment [Abstract]  
Schedule of property plant and equipment, net
   Machinery and equipment   Computers   Office furniture and equipment   Leasehold improvements   Printers leased to clients   Total 
   Thousands
USD		   Thousands
USD		   Thousands
USD		   Thousands
USD		   Thousands
USD		   Thousands
USD		 
Cost                        
As of January 1, 2019   4,132    471    158    1,719    199    6,679 
Additions   770    5    32    26    -    833 
Disposals   (306)   -    (3)   -    (87)   (396)
Designation change   112    -    -    -    (112)   - 
As of December 31, 2019   4,708    476    187    1,745    -    7,116 
                               
Additions   1,163    124    85    12    -    1,384 
Disposals   -    (8)   (22)   -    -    (30)
As of December 31, 2020   5,871    592    250    1,757    -    8,470 
                               
Depreciation accrued                              
As of January 1, 2019   792    365    37    238    47    1,479 
Disposals   799    65    17    166    13    1,060 
Designation change   (133)   -    (1)   -    (32)   (166)
Disposals   28    -    -    -    (28)   - 
As of December 31, 2019   1,486    430    53    404    -    2,373 
                               
Additions   787    47    30    167    -    1,031 
Disposals   -    (8)   (18)   -    -    (26)
As of December 31, 2020   2,273    469    65    571    -    3,378 
                               
Carrying amount                              
As of December 31, 2020   3,598    123    185    1,186    -    5,092 
As of December 31, 2019   3,222    46    134    1,341    -    4,743 
v3.20.4
Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2020
Intangible Assets [Abstract]  
Schedule of intangible assets development expenses capitalized
    2019     2020  
    Thousands
USD		     Thousands
USD		  
Balance as of January 1     5,983       5,211  
Amortization     (772 )     (771 )
Balance as of December 31     5,211       4,440  
v3.20.4
Subsidiaries (Tables)
 12 Months Ended
Dec. 31, 2020
Subsidiaries [Abstract]  
Summary of group's material subsidiaries
    Principal location
of the company’s
activity		   The Group’s ownership interest in the subsidiary for the year ended December 31  
      2019     2020  
Name of company     %     %  
Nano Dimension Technologies Ltd.   Israel     100 %     100 %
Nano Dimension IP Ltd. (*)   Israel     100 %     100 %
Nano Dimension USA Inc.   USA     100 %     100 %
Nano Dimension (HK) Limited (*)   Asia-Pacific     100 %     100 %
(*) Nano Dimension IP Ltd. and Nano Dimension (HK) Limited were incorporated by the Company in 2018. Nano Dimension IP Ltd. had no material activity until and during 2020.
v3.20.4
Other Payables (Tables)
 12 Months Ended
Dec. 31, 2020
Other Payables [Abstract]  
Schedule of other payables
    December 31,  
    2019     2020  
    Thousands
USD		     Thousands
USD		  
Accrued expenses     406       1,635  
Contract liabilities     991       968  
Lease liability     1,055       1,148  
Employees and related liabilities     616       1,230  
Government authorities     249       659  
Current maturities in respect of government grants     231       226  
Others     27       44  
      3,575       5,910  
v3.20.4
Liability in Respect of Government Grants (Tables)
 12 Months Ended
Dec. 31, 2020
Liability in Respect of Government Grants [Abstract]  
Schedule of liability in respect of government grants
    2019     2020  
    Thousands
USD		     Thousands
USD		  
Balance as of January 1     1,445       1,275  
Amounts received during the year     121       55  
Payment of royalties     (185 )     (158 )
Amounts recognized as an offset from research and development expenses     (49 )     (23 )
Revaluation of the liability     (57 )     (73 )
Balance as of December 31     1,275       1,076  
                 
Current maturities in respect of government grants     231       226  
Long term liability in respect of government grants     1,044       850  
v3.20.4
Equity (Tables)
 12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Schedule of share capital
   Ordinary Shares 
   2019(*)   2020 
Issued and paid-up share capital as at December 31   4,179    172,052 
Authorized share capital   10,000    250,000 
(*) Following the approval of its shareholders on April 16, 2020, the board of directors of the Company approved a 1-for-50 reverse split of the Company’s share capital. The implementation of the reverse split resulted in a reduction in the issued and outstanding Ordinary Shares, and the increase of the par value per Ordinary Share from NIS 0.10 to NIS 5.00 per Ordinary Share. Concurrently with the reverse split, the Company effected a corresponding change in the ratio of ordinary shares to each of the Company’s ADSs, such that its ratio of ADSs to Ordinary Shares has changed from one (1) ADS representing fifty (50) Ordinary Shares to a new ratio of one (1) ADS representing one (1) Ordinary Share. The effective date of this reverse split was June 29, 2020. All options and warrants of the Company outstanding immediately prior to the reverse split were appropriately adjusted by dividing the number of Ordinary Shares into which the options and warrants are exercisable by 50 and multiplying the exercise price thereof by 50, as a result of the reverse split. All the figures in these financial statements relating to share capital were appropriately adjusted to reflect the above-mentioned reverse split.
Schedule of issued share capital
   Ordinary Shares 
   2019   2020 
Issued as at January 1   1,931    4,179 
Issued for cash during the period   1,600    163,542 
Conversion into shares of convertible notes during the period   610    1,395 
Exercise of warrants during the period   38    2,918 
Exercise of share options during the period   -    18 
Issued and paid-in share capital as at December 31   4,179    172,052 
v3.20.4
Revenues (Tables)
 12 Months Ended
Dec. 31, 2020
Revenues [Abstract]  
Schedule of revenue
   For the year ended
December 31		 
   2018   2019   2020 
   Thousands
USD		   Thousands
USD		   Thousands
USD		 
Consumables   190    650    554 
Support services   400    598    654 
Sales of printers   4,320    5,770    2,191 
Total   4,910    7,018    3,399 
Printers rental   190    52    - 
Total revenue   5,100    7,070    3,399 
Schedule of revenues per geographical locations
   For the year ended
December 31,		 
   2018   2019   2020 
   Thousands
USD		   Thousands
USD		   Thousands
USD		 
U.S.   2,727    3,367    1,263 
Asia Pacific   1,239    1,591    1,362 
Europe and Israel(*)   1,134    2,112    774 
Total revenue   5,100    7,070    3,399 
(*) The Company combined all revenues into the Europe and Israel geography, due to immateriality of the amounts.
Schedule of timing of revenue recognition
   For the year ended
December 31,		 
   2018   2019   2020 
   Thousands
USD		   Thousands
USD		   Thousands
USD		 
Goods and services transferred over time   590    650    654 
Goods transferred at a point in time   4,510    6,420    2,745 
Total revenue   5,100    7,070    3,399 
Schedule of contract assets and contract liabilities deriving from contracts with customers
   December 31, 
   2019   2020 
   Thousands
USD		   Thousands
USD		 
Open balances   1,816    713 
Contract liabilities   991    968 
v3.20.4
Cost of Revenues (Tables)
 12 Months Ended
Dec. 31, 2020
Disclosure of cost of sales [text block] [Abstract]  
Schedule of cost of revenues
   For the year ended
December 31		 
   2018   2019   2020 
   Thousands
USD		   Thousands
USD		   Thousands
USD		 
According to sources of revenue -            
Consumables   195    240    169 
Support services   403    855    629 
Sales of printers   2,938    3,192    765 
Printers rental   58    25    - 
Total   3,594    4,312    1,563 
v3.20.4
Further Detail of Profit or Loss (Tables)
 12 Months Ended
Dec. 31, 2020
Profit or loss [abstract]  
Schedule of further detail of profit or loss
   For the year ended
December 31		 
   2018   2019   2020 
   Thousands
USD		   Thousands
USD		   Thousands
USD		 
A. Research and development expenses, net            
Payroll   4,890    4,834    6,531 
Materials   1,065    1,001    940 
Subcontractors   70    82    258 
Patent registration   70    144    160 
Depreciation   880    1,534    1,588 
Rental fees and maintenance   908    197    173 
Other   782    339    249 
    8,665    8,131    9,899 
Less – government grants   (42)   (49)   (21)
    8,623    8,082    9,878 
B. Sales and marketing expenses               
Payroll   2,226    2,873    5,326 
Marketing, advertising and commissions   1,381    1,808    577 
Rental fees and maintenance   64    114    201 
Travel abroad   201    317    235 
Depreciation   186    212    223 
Other   201    145    35 
    4,259    5,469    6,597 
                
C. General and administrative expenses               
Payroll   819(*)   872(*)   1,377 
Share based payment expenses   206(*)   155(*)   16,837 
Fees   32    22    22 
Professional services   1,114    1,358    1,064 
Directors pay   209(*)   187(*)   - 
Office expenses   311    359    386 
Travel abroad   45    37    44 
Depreciation   -    78    76 
Rental fees and maintenance   91    43    46 
Other   107    159    435 
    3,002    3,270    20,287 
D. Finance income               
Revaluation of liability in respect of government grants   -    58    75 
Exchange rate differences   -    -    123 
Revaluation of financial liabilities at fair value through profit or loss (**)   -    8,707    - 
Bank interest and fees   54    -    248 
    54    8,765    446 
Finance expense               
Exchange rate differences   127    151    - 
Bank fees   -    14    28 
Finance expense in respect of lease liability   -    425    390 
Revaluation of financial liabilities at fair value through profit or loss (**)   -    -    12,825 
Fundraising expenses   -    1,693    - 
Revaluation of liability in respect of government grants   265    -    - 
    392    2,283    13,243 
(*)Reclassified.
(**) See Note 11.B regarding financing transactions that included issuance of financial instruments accounted at fair value through profit and loss.
v3.20.4
Income Tax (Tables)
 12 Months Ended
Dec. 31, 2020
Income Tax [Abstract]  
Schedule of adjustment between the theoretical tax amount and the tax amount
   For the year ended
December 31,		 
   2018   2019   2020 
   Thousands
USD		   Thousands
USD		   Thousands
USD		 
Total comprehensive loss   (15,488)   (8,353)   (48,494)
Statutory tax rate   23%   23%   23%
Theoretical tax benefit   (3,562)   (1,921)   (11,154)
Increase in tax liability due to:               
Non-deductible expenses   280    75    4,299 
Losses and benefits for tax purposes for which no deferred taxes were recorded   3,282    1,846    6,855 
Taxes on income   -    -    - 
v3.20.4
Loss Per Share (Tables)
 12 Months Ended
Dec. 31, 2020
Earnings per share [Abstract]  
Schedule of loss per share
   For the year ended
December 31		 
   2018(*)   2019(*)   2020 
Weighted average of number of Ordinary Shares used in the calculation of basic and diluted loss per share (in thousands)(*)   1,836    3,513    42,947 
Net loss used in calculation (thousands USD)   15,488    8,353    48,494 
(*)All the figures in this note were adjusted to reflect the 1:50 reverse split effective June 29, 2020, see note 11.A.
Schedule of weighted average number of ordinary shares
   Year ended
December 31		 
   2018(*)   2019(*)   2020 
   Thousands
of		   Thousands
of		   Thousands
of		 
   shares of
NIS 5.0		   shares of
NIS 5.0		   shares of
NIS 5.0		 
   par value   par value   par value 
Balance as at January 1   1,240    1,932    4,179 
Effect of share options exercised   1    135    9 
Effect of warrants exercised   -    -    1,184 
Effect of conversion of notes   -    -    1,236 
Effect of shares issued during the year   595    1,446    36,339 
Weighted average number of Ordinary Shares used to calculate basic and diluted earnings (loss) per share as at December 31   1,836    3,513    42,947 
(*) All the figures in this note were adjusted to reflect the 1:50 reverse split effective June 29, 2020, see note 11.A.
v3.20.4
Share-Based Payment (Tables)
 12 Months Ended
Dec. 31, 2020
Share-Based Payment (Tables) [Line Items]  
Schedule of fair value of the share options
    17.A-
Consultants and Employees		     17.B-
Directors and CEO (*)		  
Number of share options granted     14,638,264        8,942,202 (*)
Fair value in the grant date (thousands USD)     43,979       23,434  
Range of share price (USD)     0.74-89.83       1.38-94.64  
Range of exercise price (USD)     0-114.77       0.7-92.04  
Range of expected share price volatility     40.3%-104.96 %     53.75-104.96 %
Range of estimated life (years)     4-9       4-7  
Range of weighted average of risk-free interest rate     0.36-1.98 %     0.88%-1.32 %
Expected dividend yield     -       -  
Outstanding as of December 31, 2020     12,603,828       8,839,482  
Exercisable as of December 31, 2020     880,734       8,679,113  
(*) The options granted to directors and the CEO do not include the series B warrants which the CEO is entitled to purchase, since the number of those warrants is not yet determined.
Employees and consultants [Member]  
Share-Based Payment (Tables) [Line Items]  
Schedule of fair value of the share options
    2019(*)     2020  
Outstanding at January 1     112,944       521,138  
Granted during the year     461,223       14,295,289  
Exercised during the year     (24 )     (1,703,902 )
Forfeited or expired during the year     (53,005 )     (508,697 )
Outstanding at December 31     521,138       12,603,828  
Exercisable as of December 31     53,831       880,734  
Directors and CEO [Member]  
Share-Based Payment (Tables) [Line Items]  
Schedule of fair value of the share options
    2019     2020  
Outstanding at January 1     41,400       78,435  
Granted during the year     50,900       8,820,402  
Exercised during the year     -       -  
Forfeited or expired during the year     (13,865 )     (59,355 )
Outstanding at December 31     78,435       8,839,482  
Exercisable as of December 31     40,275       8,679,113  
v3.20.4
Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2020
Financial Instruments [Abstract]  
Schedule of classification and linkage terms of financial instruments
   NIS   Linked to the U.S. dollar   Linked to the Euro and other   Total
December 31, 2020                
Cash   1,057    584,205    76    585,338 
Bank deposits   -    85,596    -    85,596 
Restricted deposits   406    62    -    468 
Trade receivables   17    534    162    713 
Other receivables   410    19    -    429 
    1,890    670,416    238    672,544 
Financial liabilities at amortized cost   4,366    16,134    45    20,545 
Total net financial assets (liabilities)   (2,476)   654,282    193    651,999 
                     
December 31, 2019                    
Cash   348    3,536    10    3,894 
Restricted deposits   377    31    -    408 
Trade receivables   -    1,586    230    1,816 
Other receivables   342    -    -    342 
    1,067    5,153    240    6,460 
Financial liabilities at amortized cost   4,503    6,740    13    11,256 
Total net financial assets (liabilities)   (3,436)   (1,587)   227    (4,796)
Schedule of sensitivity analysis of changes in exchange rate of dollar
    Profit (loss)
from the change		  
    Thousands
USD		  
Increase at a rate of 5%     (124 )
Increase at a rate of 10%     (248 )
Decrease at a rate of 5%     124  
Decrease at a rate of 10%     248  
Schedule of fair value of financial instruments position
   December 31, 2020 
   Level 1   Level 2   Level 3   Total 
   Thousands
USD		   Thousands
USD		   Thousands
USD		   Thousands
USD		 
Financial liabilities:                
Warrants            -    11,636        -    11,636 
Financial derivatives   -    350    -    350 
Total   -    11,986    -    11,986 
   December 31, 2019 
   Level 1   Level 2   Level 3   Total 
   Thousands
USD		   Thousands
USD		   Thousands
USD		   Thousands
USD		 
Financial liabilities:                
Warrants          -    793    1,364    2,157 
Convertible notes   -    -    1,223    1,223 
Financial derivatives   -    -    318    318 
Total   -    793    2,905    3,698 
Schedule of repayment dates of financial liabilities
    First year     More than a year     Total  
    Thousands
USD		     Thousands
USD		     Thousands
USD		  
December 31, 2020                  
Trade payables     776       -       776  
Other payables     5,910       -       5,910  
Lease liabilities     -       2,618       2,618  
Liability in respect of government grants     -       850       850  
      6,686       3,468       10,154  
December 31, 2019                        
Trade payables     850       -       850  
Other payables     3,547       28       3,575  
Lease liabilities     -       2,089       2,089  
Liability in respect of government grants     -       1,044       1,044  
      4,397       3,161       7,558  
v3.20.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Schedule of lease liability and right of use asset
   Buildings   Vehicles   Total 
   Thousands
USD		   Thousands
USD		   Thousands
USD		 
Balance as at January 1, 2019   1,687    204    1,891 
Depreciation   706    136    842 
Additions   1,525    99    1,624 
Balance as at January 1, 2020   2,506    167    2,673 
                
Depreciation  740   116   856 
Disposals   -    69    69 
Additions   1,312    109    1,421 
Balance as at December 31, 2020   3,078    91    3,169 
Schedule of maturity analysis of the group's lease liabilities
   December 31,
2020		 
   Thousands
USD		 
Less than one year  1,148 
One to five years   2,618 
Total   3,766 
      
Current maturities of lease liability   1,148 
      
Long-term lease liability   2,618 
v3.20.4
Transactions and balances with related parties (Tables)
 12 Months Ended
Dec. 31, 2020
Transactions and balances with related parties [Abstract]  
Schedule of Balances with related parties
   December 31, 
   2019   2020 
   Thousands
USD		   Thousands
USD		 
Other payables   130    207 
Schedule of Shareholder and other related parties benefits
   Year ended on December 31, 
   2018   2019   2020 
   Thousands
USD		   Thousands
USD		   Thousands
USD		 
Salaries and related expenses- related parties employed by the Group   829    1,047    18,252(*)
Number of related parties   4    4    5 
Compensation for directors not employed by the Group   311    218    2,204 
Number of directors   7    6    6 
v3.20.4
General (Details)
 12 Months Ended
Dec. 31, 2020
USD ($)
General Hedge Accounting [Abstract]  
Aggregate gross proceeds $ 710,000,000
Gross proceeds $ 833,000,000
v3.20.4
Summary of Significant Accounting Policies (Details)
 12 Months Ended
Dec. 31, 2020
Summary of Significant Accounting Policies (Details) [Line Items]  
Estimated useful lives of the capitalized development costs 10 years
Buildings [member] | Minimum [Member]  
Summary of Significant Accounting Policies (Details) [Line Items]  
Estimated useful lives of the capitalized development costs 1 year
Buildings [member] | Maximum [Member]  
Summary of Significant Accounting Policies (Details) [Line Items]  
Estimated useful lives of the capitalized development costs 5 years
Motor vehicles [member]  
Summary of Significant Accounting Policies (Details) [Line Items]  
Estimated useful lives of the capitalized development costs 3 years
v3.20.4
Summary of Significant Accounting Policies (Details) - Schedule of details regarding the exchange rate
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Schedule of details regarding the exchange rate [Abstract]      
Consumer Price Index 101.1 101.8 101.2
Exchange rate of Euro 1.22 1.12 1.14
Exchange rate of NIS 0.31 0.29 0.27
Change in percentages of consumer price index (0.69%) 0.60% 0.80%
Change in percentages of Euro (9.32) (2) (4.4)
Change in percentages of NIS (2.00%) 8.45% 7.50%
v3.20.4
Summary of Significant Accounting Policies (Details) - Schedule of property plant and equipment, useful life span of the assets
 12 Months Ended
Dec. 31, 2020
Machinery and equipment [Member] | Minimum [Member]  
Summary of Significant Accounting Policies (Details) - Schedule of property plant and equipment, useful life span of the assets [Line Items]  
Depreciation rates useful life span of assets 7.00%
Machinery and equipment [Member] | Maximum [Member]  
Summary of Significant Accounting Policies (Details) - Schedule of property plant and equipment, useful life span of the assets [Line Items]  
Depreciation rates useful life span of assets 25.00%
Computers [Member] | Minimum [Member]  
Summary of Significant Accounting Policies (Details) - Schedule of property plant and equipment, useful life span of the assets [Line Items]  
Depreciation rates useful life span of assets 20.00%
Computers [Member] | Maximum [Member]  
Summary of Significant Accounting Policies (Details) - Schedule of property plant and equipment, useful life span of the assets [Line Items]  
Depreciation rates useful life span of assets 33.00%
Office furniture and equipment [Member] | Minimum [Member]  
Summary of Significant Accounting Policies (Details) - Schedule of property plant and equipment, useful life span of the assets [Line Items]  
Depreciation rates useful life span of assets 7.00%
Office furniture and equipment [Member] | Maximum [Member]  
Summary of Significant Accounting Policies (Details) - Schedule of property plant and equipment, useful life span of the assets [Line Items]  
Depreciation rates useful life span of assets 15.00%
Leasehold Improvements [Member] | Minimum [Member]  
Summary of Significant Accounting Policies (Details) - Schedule of property plant and equipment, useful life span of the assets [Line Items]  
Depreciation rates useful life span of assets 7.00%
Leasehold Improvements [Member] | Maximum [Member]  
Summary of Significant Accounting Policies (Details) - Schedule of property plant and equipment, useful life span of the assets [Line Items]  
Depreciation rates useful life span of assets 10.00%
Printers leased to customers [Member]  
Summary of Significant Accounting Policies (Details) - Schedule of property plant and equipment, useful life span of the assets [Line Items]  
Depreciation rates useful life span of assets 25.00%
v3.20.4
Cash and Restricted Deposits (Details) - Lease [Member]
$ in Thousands
Dec. 31, 2020
USD ($)
Cash and Restricted Deposits (Details) [Line Items]  
Restricted deposit $ 468
Annual interest rate 0.01%
v3.20.4
Cash and Restricted Deposits (Details) - Schedule of components of cash - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Cash and Restricted Deposits (Details) - Schedule of components of cash [Line Items]    
Bank accounts- other $ 76 $ 10
Cash 585,338 3,894
NIS [Member]    
Cash and Restricted Deposits (Details) - Schedule of components of cash [Line Items]    
Bank accounts- dominated in NIS 1,057 348
USD [Member]    
Cash and Restricted Deposits (Details) - Schedule of components of cash [Line Items]    
Bank accounts- dominated in USD $ 584,205 $ 3,536
v3.20.4
Trade Receivables and Other Receivables (Details) - Schedule of trade receivables - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Schedule of trade receivables [Abstract]    
Open balances $ 713 $ 1,816
v3.20.4
Trade Receivables and Other Receivables (Details) - Schedule of other receivables - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Schedule of other receivables [Abstract]    
Government authorities $ 400 $ 332
Prepaid expenses 696 221
Others 30 17
Total $ 1,126 $ 570
v3.20.4
Inventory (Details) - Schedule of inventory - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Schedule of inventory [Abstract]    
Raw materials and work in progress [1] $ 2,692 $ 2,636
Finished goods 622 907
Total $ 3,314 $ 3,543
[1] A part of the raw materials and work in progress are expected to be sold in a period longer than the operating cycle of the Company.
v3.20.4
Property Plant and Equipment, Net (Details)
 12 Months Ended
Dec. 31, 2020
USD ($)
Disclosure of property, plant and equipment [text block] [Abstract]  
Acquired property plant and equipment $ 25,000
v3.20.4
Property Plant and Equipment, Net (Details) - Schedule of property plant and equipment, net - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cost    
Beginning balance $ 7,116 $ 6,679
Additions 1,384 833
Disposals (30) (396)
Designation change  
Ending balance 8,470 7,116
Depreciation accrued    
Beginning balance 2,373 1,479
Additions 1,031 1,060
Designation change   (166)
Disposals (26)
Ending balance 3,378 2,373
Carrying amount    
Property plant and equipment, net 5,092 4,743
Machinery and equipment [Member]    
Cost    
Beginning balance 4,708 4,132
Additions 1,163 770
Disposals (306)
Designation change   112
Ending balance 5,871 4,708
Depreciation accrued    
Beginning balance 1,486 792
Additions 787 799
Designation change   (133)
Disposals 28
Ending balance 2,273 1,486
Carrying amount    
Property plant and equipment, net 3,598 3,222
Computers [Member]    
Cost    
Beginning balance 476 471
Additions 124 5
Disposals (8)
Designation change  
Ending balance 592 476
Depreciation accrued    
Beginning balance 430 365
Additions 47 65
Designation change  
Disposals (8)
Ending balance 469 430
Carrying amount    
Property plant and equipment, net 123 46
Office furniture and equipment [Member]    
Cost    
Beginning balance 187 158
Additions 85 32
Disposals (22) (3)
Designation change  
Ending balance 250 187
Depreciation accrued    
Beginning balance 53 37
Additions 30 17
Designation change   (1)
Disposals (18)
Ending balance 65 53
Carrying amount    
Property plant and equipment, net 185 134
Leasehold improvements [Member]    
Cost    
Beginning balance 1,745 1,719
Additions 12 26
Disposals
Designation change  
Ending balance 1,757 1,745
Depreciation accrued    
Beginning balance 404 238
Additions 167 166
Designation change  
Disposals
Ending balance 571 404
Carrying amount    
Property plant and equipment, net 1,186 1,341
Printers leased to clients [Member]    
Cost    
Beginning balance 0 199
Additions
Disposals (87)
Designation change   (112)
Ending balance 0
Depreciation accrued    
Beginning balance 47
Additions 13
Designation change   (32)
Disposals (28)
Ending balance
Carrying amount    
Property plant and equipment, net
v3.20.4
Intangible Assets (Details) - Schedule of intangible assets development expenses capitalized - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Schedule of intangible assets development expenses capitalized [Abstract]    
Balance as of January 1 $ 5,211 $ 5,983
Amortization (771) (772)
Balance as of December 31 $ 4,440 $ 5,211
v3.20.4
Subsidiaries (Details) - Schedule of group's material subsidiaries
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Nano Dimension Technologies Ltd. [Member]    
Subsidiaries (Details) - Schedule of group's material subsidiaries [Line Items]    
Name of company Nano Dimension Technologies Ltd.  
Principal location of the company's activity Israel  
The Group's ownership interest in the subsidiary 100.00% 100.00%
Nano Dimension IP Ltd. [Member]    
Subsidiaries (Details) - Schedule of group's material subsidiaries [Line Items]    
Name of company [1] Nano Dimension IP Ltd. (*)  
Principal location of the company's activity [1] Israel  
The Group's ownership interest in the subsidiary [1] 100.00% 100.00%
Nano Dimension USA Inc. [Member]    
Subsidiaries (Details) - Schedule of group's material subsidiaries [Line Items]    
Name of company Nano Dimension USA Inc.  
Principal location of the company's activity USA  
The Group's ownership interest in the subsidiary 100.00% 100.00%
Nano Dimension (HK) Limited [Member]    
Subsidiaries (Details) - Schedule of group's material subsidiaries [Line Items]    
Name of company [1] Nano Dimension (HK) Limited (*)  
Principal location of the company's activity [1] Asia-Pacific  
The Group's ownership interest in the subsidiary [1] 100.00% 100.00%
[1] Nano Dimension IP Ltd. and Nano Dimension (HK) Limited were incorporated by the Company in 2018. Nano Dimension IP Ltd. had no material activity until and during 2020.
v3.20.4
Other Payables (Details) - Schedule of other payables - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Schedule of other payables [Abstract]    
Accrued expenses $ 1,635 $ 406
Contract liabilities 968 991
Lease liability 1,148 1,055
Employees and related liabilities 1,230 616
Government authorities 659 249
Current maturities in respect of government grants 226 231
Others 44 27
Other payables, Total $ 5,910 $ 3,575
v3.20.4
Liability in Respect of Government Grants (Details) - USD ($)
 12 Months Ended 72 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Liability in Respect of Government Grants (Details) [Line Items]    
Total approved budget for development project (in Dollars)   $ 4,505,000
Aggregate amount (in Dollars) $ 1,865,000  
Bottom of range [member]    
Liability in Respect of Government Grants (Details) [Line Items]    
Percentage of financing from the government   30.00%
Royalties   3.00%
Discount rate   19.00%
Top of range [member]    
Liability in Respect of Government Grants (Details) [Line Items]    
Percentage of financing from the government   50.00%
Royalties   3.50%
Discount rate   30.00%
v3.20.4
Liability in Respect of Government Grants (Details) - Schedule of liability in respect of government grants - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Schedule of liability in respect of government grants [Abstract]    
Balance as of January 1 $ 1,275 $ 1,445
Amounts received during the year 55 121
Payment of royalties (158) (185)
Amounts recognized as an offset from research and development expenses (23) (49)
Revaluation of the liability (73) (57)
Balance as of December 31 1,076 1,275
Current maturities in respect of government grants 226 231
Long term liability in respect of government grants $ 850 $ 1,044
v3.20.4
Equity (Details)
 1 Months Ended 3 Months Ended 12 Months Ended
Apr. 16, 2020
$ / shares
Aug. 31, 2019
USD ($)
Feb. 28, 2019
USD ($)
$ / shares
shares
Feb. 28, 2019
XUA
shares
Mar. 31, 2019
USD ($)
shares
Dec. 31, 2020
USD ($)
$ / shares
shares
Feb. 28, 2021
ILS (₪)
shares
Jan. 31, 2021
shares
Jun. 30, 2020
shares
Feb. 04, 2020
USD ($)
$ / shares
Dec. 31, 2019
USD ($)
shares
Equity (Details) [Line Items]                      
Ordinary shares issued (in Shares) | shares           4,179 74,100,000 74,100,000     1,931
Non-tradable rights term     6 months 6 months              
Gross proceeds from offering           $ 833,000,000          
Remaining financial liabilities           10,892,000          
Financial liability           $ 10,154,000         $ 7,558,000
Treasury Shares [Member]                      
Equity (Details) [Line Items]                      
Ordinary shares issued (in Shares) | shares           10,540          
Constituted issued and paid up share capital percentage           0.006%          
Warrants [Member]                      
Equity (Details) [Line Items]                      
Remaining financial liabilities           $ 745,000          
General Meeting [Member]                      
Equity (Details) [Line Items]                      
Ordinary shares issued (in Shares) | shares             500,000,000   250,000,000    
Increased its authorized share capital (in New Shekels) | ₪             ₪ 1,250,000,000        
Ordinary shares [member]                      
Equity (Details) [Line Items]                      
Gross proceeds from offering     $ 10,560,000                
Right to purchase exercised ordinary shares (in Shares) | shares         37,620            
Bottom of range [member]                      
Equity (Details) [Line Items]                      
Par value per Ssare (in Dollars per share) | $ / shares $ 0.10                    
Top of range [member]                      
Equity (Details) [Line Items]                      
Par value per Ssare (in Dollars per share) | $ / shares $ 5.00                    
Investor [Member] | Ordinary shares [member]                      
Equity (Details) [Line Items]                      
Consideration received, net         $ 282,000            
Right to purchase exercised ordinary shares (in Shares) | shares         37,620            
Convertible notes [Member]                      
Equity (Details) [Line Items]                      
Consideration received, net           4,276,000          
Financial liability           11,609,000          
Convertible notes           $ 7,333,000          
Loss on conversion price                     $ 2,003,000
Non-adjusting events after reporting period [member] | Convertible notes [Member]                      
Equity (Details) [Line Items]                      
Aggregate principal amount                   $ 204,000  
Non-adjusting events after reporting period [member] | Convertible notes [Member] | ADS [Member]                      
Equity (Details) [Line Items]                      
Aggregate principal amount                   $ 2,305,000  
Conversion price (in Dollars per share) | $ / shares                   $ 1.74  
Non-adjusting events after reporting period [member] | Convertible notes [Member] | Warrants [Member] | ADS [Member]                      
Equity (Details) [Line Items]                      
Exercise price (in Dollars per share) | $ / shares                   $ 1.914  
Public Offering [Member] | Ordinary shares [member]                      
Equity (Details) [Line Items]                      
Consideration received, net | XUA       XUA 12,000,000              
Attributed to warrants     10,201,000                
Gross proceeds from offering     1,440,000                
Net issuance consideration, total     1,224,000                
Warrants description           the Company issued, pursuant to several public offerings in the United States, an aggregate of 163,542,447 ADSs and 430,000 pre-funded warrants (that were converted to ADSs during 2020). The total gross proceeds from the offerings were approximately $710,013,000, before deducting underwriting discounts and commissions and other offering-related expenses. The total net proceeds from the offerings, after deducting issuance expenses, were approximately $650,115,000. As a part of those offerings, the Company issued a total of 7,365,289 non-tradable warrants to the underwriters. The warrants are accounted for as share-based payment expenses, see also note 17.          
Public Offering [Member] | Ordinary shares [member] | ADS [Member]                      
Equity (Details) [Line Items]                      
Attributed to warrants     1,799,000                
Net issuance consideration, total     $ 216,000                
Private Placement [Member]                      
Equity (Details) [Line Items]                      
Securities purchase agreement, description           Accordingly, from the consideration received, approximately $1,569,000 was attributed to the convertible notes of the first tranche, $1,902,000 was attributed to the warrants of the first tranche, and a total of approximately $805,000 was attributed to the rights with respect to the second and third tranches.          
Ordinary shares issued (in Shares) | shares                     609,448
Aggregate principal amount   $ 4,276,000                 $ 1,767,400
Additional debt amount   2,700,000                  
Gross proceeds   $ 7,000,000                  
Non tradable warrants to purchase description   the Company issued non-tradable warrants to purchase 62,668,850 ADSs. The warrants have an exercise price equal to 125% of the conversion price of the convertible promissory notes, will be exercisable upon the six-month anniversary of issuance and will expire five years from the date of issuance. The total gross proceeds from the first closing were $4,276,000.                  
Conversion price (in Dollars per share) | $ / shares           $ 2.90          
ADS [Member]                      
Equity (Details) [Line Items]                      
Securities purchase agreement, description the Company effected a corresponding change in the ratio of ordinary shares to each of the Company’s ADSs, such that its ratio of ADSs to Ordinary Shares has changed from one (1) ADS representing fifty (50) Ordinary Shares to a new ratio of one (1) ADS representing one (1) Ordinary Share. The effective date of this reverse split was June 29, 2020. All options and warrants of the Company outstanding immediately prior to the reverse split were appropriately adjusted by dividing the number of Ordinary Shares into which the options and warrants are exercisable by 50 and multiplying the exercise price thereof by 50, as a result of the reverse split. All the figures in these financial statements relating to share capital were appropriately adjusted to reflect the above-mentioned reverse split.                    
Number of american depositary share (in Shares) | shares     1,600,000 1,600,000              
Number of non-tradable warrants (in Shares) | shares     1,600,000 1,600,000              
Non-tradable warrants exercise price (in Dollars per share) | $ / shares     $ 8.625                
Non-tradable warrants term     5 years 5 years              
Non-tradable rights to purchase shares (in Shares) | shares     1,200,000 1,200,000              
Non-tradable rights exercise price (in Dollars per share) | $ / shares     $ 7.50                
v3.20.4
Equity (Details) - Schedule of share capital - shares
Dec. 31, 2020
Dec. 31, 2019
 [1]
Schedule of share capital [Abstract]    
Issued and paid-up share capital as at December 31 172,052 4,179
Authorized share capital 250,000 10,000
[1] Following the approval of its shareholders on April 16, 2020, the Board of Directors of the Company approved a 1-for-50 reverse split of the Company’s share capital. The implementation of the reverse split resulted in a reduction in the issued and outstanding ordinary shares, and the increase of the par value per ordinary share from NIS 0.10 to NIS 5.00 per ordinary share. Concurrently with the reverse split, the Company effected a corresponding change in the ratio of ordinary shares to each of the Company’s ADSs, such that its ratio of ADSs to ordinary shares has changed from one (1) ADS representing fifty (50) ordinary shares to a new ratio of one (1) ADS representing one (1) ordinary share. The effective date of this reverse split was June 29, 2020. All options and warrants of the Company outstanding immediately prior to the reverse split were appropriately adjusted by dividing the number of ordinary shares into which the options and warrants are exercisable by 50 and multiplying the exercise price thereof by 50, as a result of the reverse split. All the figures in these financial statements relating to share capital were appropriately adjusted to reflect the above-mentioned reverse split.
v3.20.4
Equity (Details) - Schedule of issued share capital - shares
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Feb. 28, 2021
Jan. 31, 2021
Schedule of issued share capital [Abstract]        
Issued as at January 1 4,179 1,931 74,100,000 74,100,000
Issued for cash during the period 163,542 1,600    
Conversion into shares of convertible notes during the period 1,395 610    
Exercise of warrants during the period 2,918 38    
Exercise of share options during the period 18      
Issued and paid-in share capital as at December 31 172,052 4,179 [1]    
[1] Following the approval of its shareholders on April 16, 2020, the Board of Directors of the Company approved a 1-for-50 reverse split of the Company’s share capital. The implementation of the reverse split resulted in a reduction in the issued and outstanding ordinary shares, and the increase of the par value per ordinary share from NIS 0.10 to NIS 5.00 per ordinary share. Concurrently with the reverse split, the Company effected a corresponding change in the ratio of ordinary shares to each of the Company’s ADSs, such that its ratio of ADSs to ordinary shares has changed from one (1) ADS representing fifty (50) ordinary shares to a new ratio of one (1) ADS representing one (1) ordinary share. The effective date of this reverse split was June 29, 2020. All options and warrants of the Company outstanding immediately prior to the reverse split were appropriately adjusted by dividing the number of ordinary shares into which the options and warrants are exercisable by 50 and multiplying the exercise price thereof by 50, as a result of the reverse split. All the figures in these financial statements relating to share capital were appropriately adjusted to reflect the above-mentioned reverse split.
v3.20.4
Revenues (Details) - Schedule of revenue - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues (Details) - Schedule of revenue [Line Items]      
Total $ 3,399 $ 7,018 $ 4,910
Printers rental 52 190
Total revenue 3,399 7,070 5,100
Consumables [Member]      
Revenues (Details) - Schedule of revenue [Line Items]      
Total 554 650 190
Support services [Member]      
Revenues (Details) - Schedule of revenue [Line Items]      
Total 654 598 400
Sales of printers [Member]      
Revenues (Details) - Schedule of revenue [Line Items]      
Total $ 2,191 $ 5,770 $ 4,320
v3.20.4
Revenues (Details) - Schedule of revenues per geographical locations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues (Details) - Schedule of revenues per geographical locations [Line Items]      
Total revenue $ 3,399 $ 7,070 $ 5,100
U.S. [Member]      
Revenues (Details) - Schedule of revenues per geographical locations [Line Items]      
Total revenue 1,263 3,367 2,727
Asia Pacific [Member]      
Revenues (Details) - Schedule of revenues per geographical locations [Line Items]      
Total revenue 1,362 1,591 1,239
Europe and Israel [Member]      
Revenues (Details) - Schedule of revenues per geographical locations [Line Items]      
Total revenue [1] $ 774 $ 2,112 $ 1,134
[1] The Company combined all revenues into the Europe and Israel geography, due to immateriality of the amounts.
v3.20.4
Revenues (Details) - Schedule of timing of revenue recognition - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues (Details) - Schedule of timing of revenue recognition [Line Items]      
Total revenue $ 3,399 $ 7,070 $ 5,100
Goods and services transferred over time [Member]      
Revenues (Details) - Schedule of timing of revenue recognition [Line Items]      
Total revenue 654 650 590
Goods transferred at a point in time [Member]      
Revenues (Details) - Schedule of timing of revenue recognition [Line Items]      
Total revenue $ 2,745 $ 6,420 $ 4,510
v3.20.4
Revenues (Details) - Schedule of contract assets and contract liabilities deriving from contracts with customers - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Schedule of contract assets and contract liabilities deriving from contracts with customers [Abstract]    
Open balances $ 713 $ 1,816
Contract liabilities $ 968 $ 991
v3.20.4
Cost of Revenues (Details) - Schedule of cost of revenues - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
According to sources of revenue -      
Cost of revenues $ 1,563 $ 4,312 $ 3,594
Consumables [Member]      
According to sources of revenue -      
Cost of revenues 169 240 195
Support services [Member]      
According to sources of revenue -      
Cost of revenues 629 855 403
Sales of printers [Member]      
According to sources of revenue -      
Cost of revenues 765 3,192 2,938
Printers rental [Member]      
According to sources of revenue -      
Cost of revenues $ 25 $ 58
v3.20.4
Further Detail of Profit or Loss (Details) - Schedule of further detail of profit or loss - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
A. Research and development expenses, net      
Payroll $ 6,531 $ 4,834 $ 4,890
Materials 940 1,001 1,065
Subcontractors 258 82 70
Patent registration 160 144 70
Depreciation 1,588 1,534 880
Rental fees and maintenance 173 197 908
Other 249 339 782
Research and development expenses, gross 9,899 8,131 8,665
Less – government grants (21) (49) (42)
Research and development expenses, net 9,878 8,082 8,623
B. Sales and marketing expenses      
Payroll 5,326 2,873 2,226
Marketing, advertising and commissions 577 1,808 1,381
Rental fees and maintenance 201 114 64
Travel abroad 235 317 201
Depreciation 223 212 186
Other 35 145 201
Sales and marketing expenses 6,597 5,469 4,259
C. General and administrative expenses      
Payroll 1,377 872 [1] 819 [1]
Share based payment expenses 16,837 155 [1] 206 [1]
Fees 22 22 32
Professional services 1,064 1,358 1,114
Directors pay 187 [1] 209 [1]
Office expenses 386 359 311
Travel abroad 44 37 45
Depreciation 76 78
Rental fees and maintenance 46 43 91
Other 435 159 107
General and administrative expenses 20,287 3,270 3,002
D. Finance income      
Revaluation of liability in respect of government grants 75 58
Exchange rate differences 123  
Revaluation of financial liabilities at fair value through profit or loss [2] 8,707
Bank interest and fees 248   54
Finance income 446 8,765 54
Exchange rate differences   151 127
Bank fees 28 14
Finance expense in respect of lease liability 390 425
Revaluation of financial liabilities at fair value through profit or loss [2] 12,825
Fundraising expenses   1,693
Revaluation of liability in respect of government grants   265
Finance expense $ 13,243 $ 2,283 $ 392
[1] Reclassified.
[2] See Note 11.B regarding financing transactions that included issuance of financial instruments accounted at fair value through profit and loss.
v3.20.4
Income Tax (Details) - USD ($)
 1 Months Ended 12 Months Ended
Dec. 22, 2016
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Disclosure of income tax [text block] [Abstract]        
Percentage of corporate tax rates   23.00% 23.00% 23.00%
Description of corporate tax rate reduced the Knesset plenum passed the Economic Efficiency Law (Legislative Amendments for Achieving Budget Objectives in the Years 2017 and 2018) – 2016, by which, inter alia, the corporate tax rate would be reduced from 25% to 23% in two steps. The first step will be to a rate of 24% as from January 2017 and the second step will be to a rate of 23% as from January 2018.      
Number of equal annual portion of amortization   3    
Net operating loss for tax (in Dollars)   $ 79,688,000    
Accumulated losses before the merger (in Dollars)   840,000    
Tax deductible temporary difference value (in Dollars)   $ 31,634,000    
Research and development deductible term period   3 years    
v3.20.4
Income Tax (Details) - Schedule of adjustment between the theoretical tax amount and the tax amount - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Schedule of adjustment between the theoretical tax amount and the tax amount [Abstract]      
Total comprehensive loss $ (48,494) $ (8,353) $ (15,488)
Statutory tax rate 23.00% 23.00% 23.00%
Theoretical tax benefit $ (11,154) $ (1,921) $ (3,562)
Increase in tax liability due to:      
Non-deductible expenses 4,299 75 280
Losses and benefits for tax purposes for which no deferred taxes were recorded 6,855 1,846 3,282
Taxes on income
v3.20.4
Loss Per Share (Details) - shares
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Disclosure of earnings per share [text block] [Abstract]      
Diluted weighted average number of ordinary shares 22,810,291 3,468,948 170,341
Reverse split, description All the figures in this note were adjusted to reflect the 1:50 reverse split effective June 29, 2020, see note 11.A.    
v3.20.4
Loss Per Share (Details) - Schedule of loss per share - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
 [1]
Dec. 31, 2018
 [1]
Schedule of loss per share [Abstract]      
Weighted average of number of Ordinary Shares used in the calculation of basic and diluted loss per share (in thousands) 42,947 3,513 1,836
Net loss used in calculation (thousands USD) $ 48,494 $ 8,353 $ 15,488
[1] All the figures in this note were adjusted to reflect the 1:50 reverse split effective June 29, 2020, see note 11.A.
v3.20.4
Loss Per Share (Details) - Schedule of weighted average number of ordinary shares - shares
shares in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
 [1]
Dec. 31, 2018
 [1]
Schedule of weighted average number of ordinary shares [Abstract]      
Balance as at January 1 4,179 1,932 1,240
Effect of share options exercised 9 135 1
Effect of warrants exercised 1,184
Effect of conversion of notes 1,236
Effect of shares issued during the year 36,339 1,446 595
Weighted average number of Ordinary Shares used to calculate basic and diluted earnings (loss) per share as at December 31 42,947 3,513 1,836
[1] All the figures in this note were adjusted to reflect the 1:50 reverse split effective June 29, 2020, see note 11.A.
v3.20.4
Share-Based Payment (Details) - USD ($)
 1 Months Ended 12 Months Ended
Sep. 30, 2020
Aug. 31, 2020
Jul. 31, 2020
Mar. 31, 2020
Dec. 31, 2019
Jul. 31, 2019
Jan. 31, 2018
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Share-Based Payment (Details) [Line Items]                    
Number of vested share options, description               the Company granted to employees 1,530,000 RSUs. The RSUs represents the right to receive Ordinary Shares at a future time and vest over a period of three years. During 2019, the Company granted to employees 2,723,500 restricted shares units (“RSUs”). The RSUs represent the right to receive Ordinary Shares at a future time and vest over a period of three years.  
Borrowings, maturity       3 years            
Fair value of grant of share based payment (in Dollars)   $ 18,700,000                
Percentage of warrants exercised   30.00%                
Consideration for warrants (in Dollars)         $ 2,157,000     $ 11,636,000 $ 2,157,000  
Share based payment expenses (in Dollars)               20,502,000 $ 445,000  
Deduction from share premium (in Dollars)               $ 25,718,000    
Employees consultant and officers [Member]                    
Share-Based Payment (Details) [Line Items]                    
Number of granted non - tradable share options                 6,029,000 2,652,500
Share options exercisable into ordinary shares                 6,029,000 2,652,500
Number of vested share options, description               The share options vest over a period of three years.   The share options vest over a period of one to three years.
Employees consultant and officers [Member] | Bottom of range [member]                    
Share-Based Payment (Details) [Line Items]                    
Exercise price per share (in Dollars per share)               $ 0.70 $ 0.14 $ 0.28
Employees consultant and officers [Member] | Top of range [member]                    
Share-Based Payment (Details) [Line Items]                    
Exercise price per share (in Dollars per share)               $ 4.12 0.17 $ 1.59
Directors [Member]                    
Share-Based Payment (Details) [Line Items]                    
Number of granted non - tradable share options     440,000     2,545,000 300,000 5,400,000    
Share options exercisable into ordinary shares     0.70       1.59 5,400,000    
Number of vested share options, description     One third of the share options will vest after one year from the grant date, and the remaining will vest in eight equal quarterly batches over a period of two years. The share options will be exercisable during the earlier of a period of four years from the vesting date, or 90 days from the end of employment date.     One third of the share options will vest after one year from the grant date, and the remaining will vest in eight equal quarterly batches over a period of two years. The share options will be exercisable during the earlier of a period of four years from the vesting date, or 90 days from the end of employment date.        
Exercise price per share (in Dollars per share)           $ 0.15        
Number of vested share options, description             The share options will vest in 12 equal quarterly batches over a period of three years. The share options will be exercisable during the earlier of a period of four years from the vesting date, or 90 days from the end of employment date. 275,000 of the share options include a cashless exercise mechanism. In July 2019, the Company issued non-tradable share options to purchase 2,545,000 Ordinary Shares to directors of the Company at an exercise price of $0.15 per share. One third of the share options will vest after one year from the grant date, and the remaining will vest in eight equal quarterly batches over a period of two years. The share options will be exercisable during the earlier of a period of four years from the vesting date, or 90 days from the end of employment date.      
Directors [Member] | ADSs [Member]                    
Share-Based Payment (Details) [Line Items]                    
Warrants granted 1,500,000                  
Warrants exercisable term The warrants have an exercise price of $2.25 per ADS, will vest over a period of three years and will expire after 7 years.                  
Warrants exercise price (in Dollars per share) $ 2.25                  
Underwriters [Member]                    
Share-Based Payment (Details) [Line Items]                    
Warrants granted               7,365,289    
Number of ordinary shares exercisable by warrants               7,365,289    
Warrants exercisable term               The warrants are exercisable 6 months from the issuance date, and expire 5 years after the issuance date.    
Underwriters [Member] | Bottom of range [member]                    
Share-Based Payment (Details) [Line Items]                    
Exercise price per share (in Dollars per share)               $ 0.875    
Underwriters [Member] | Top of range [member]                    
Share-Based Payment (Details) [Line Items]                    
Exercise price per share (in Dollars per share)               $ 9.375    
Yoav Stern [Member]                    
Share-Based Payment (Details) [Line Items]                    
(in Dollars)   $ 150,000                
Yoav Stern [Member] | ADSs [Member]                    
Share-Based Payment (Details) [Line Items]                    
Number of vested share options, description         The vesting start date of the share options is January 2, 2020.          
Number of ADS purchase by issuances of option.       294,828 286,172          
Exercise price per option (in Dollars per share)       $ 1.09 $ 2.86       $ 2.86  
Percentage of option vested at the grant date       99.90%            
Option vested term, description       the remaining options will vest 3 years after the grant date.            
Number of ADS purchase by issuances of warrants   6,880,402                
Warrants vesting term   The warrants have an exercise price of $0.75 per ADS, will vest over a period of two and a half years and will expire after 7 years.                
Warrants exercise price (in Dollars per share)   $ 0.75                
Number of additional american depository shares purchase by issuances of warrants   581,000                
Warrants investing condition, description   In addition, as long as Mr. Stern is employed by the Company or is a member of the Company’s board of directors, Mr. Stern may invest an additional amount up to $50,000 to buy Series B Warrants, in an amount equal to 10% of the Company’s fully diluted capital.                
Mr. Yaron Eitan [Member]                    
Share-Based Payment (Details) [Line Items]                    
Consideration for warrants (in Dollars) $ 150,000                  
v3.20.4
Share-Based Payment (Details) - Schedule of fair value of the share options
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2020
USD ($)
$ / shares
shares
Share-Based Payment (Details) - Schedule of fair value of the share options [Line Items]  
Number of share options granted | shares
Consultants and Employees [Member]  
Share-Based Payment (Details) - Schedule of fair value of the share options [Line Items]  
Number of share options granted | shares 14,638,264
Fair value in the grant date (thousands USD) | $ $ 43,979
Expected dividend yield | $
Outstanding as of December 31, 2020 | shares 12,603,828
Exercisable as of December 31, 2020 | shares 880,734
Consultants and Employees [Member] | Bottom of range [member]  
Share-Based Payment (Details) - Schedule of fair value of the share options [Line Items]  
Range of share price (USD) $ 0.74
Range of exercise price (USD) $ 0
Range of expected share price volatility 40.30%
Range of estimated life (years) 4 years
Range of weighted average of risk-free interest rate 0.36%
Consultants and Employees [Member] | Top of range [member]  
Share-Based Payment (Details) - Schedule of fair value of the share options [Line Items]  
Range of share price (USD) $ 89.83
Range of exercise price (USD) $ 114.77
Range of expected share price volatility 104.96%
Range of estimated life (years) 9 years
Range of weighted average of risk-free interest rate 1.98%
Directors and CEO [Member]  
Share-Based Payment (Details) - Schedule of fair value of the share options [Line Items]  
Number of share options granted | shares 8,942,202
Fair value in the grant date (thousands USD) | $ $ 23,434
Expected dividend yield | $
Outstanding as of December 31, 2020 | shares 8,839,482
Exercisable as of December 31, 2020 | shares 8,679,113
Directors and CEO [Member] | Bottom of range [member]  
Share-Based Payment (Details) - Schedule of fair value of the share options [Line Items]  
Range of share price (USD) $ 1.38
Range of exercise price (USD) $ 0.7
Range of expected share price volatility 53.75%
Range of estimated life (years) 4 years
Range of weighted average of risk-free interest rate 0.88%
Directors and CEO [Member] | Top of range [member]  
Share-Based Payment (Details) - Schedule of fair value of the share options [Line Items]  
Range of share price (USD) $ 94.64
Range of exercise price (USD) $ 92.04
Range of expected share price volatility 104.96%
Range of estimated life (years) 7 years
Range of weighted average of risk-free interest rate 1.32%
v3.20.4
Share-Based Payment (Details) - Schedule of fair value of the share options and RSUs - Employees and consultants [Member] - shares
shares in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Share-Based Payment (Details) - Schedule of fair value of the share options and RSUs [Line Items]    
Outstanding at January 1 521,138 112,944
Granted during the year 14,295,289 461,223
Exercised during the year (1,703,902) (24)
Forfeited or expired during the year (508,697) (53,005)
Outstanding at December 31 12,603,828 521,138
Exercisable as of December 31 880,734 53,831
v3.20.4
Share-Based Payment (Details) - Schedule of fair value of the share options - Directors and CEO [Member] - shares
shares in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Share-Based Payment (Details) - Schedule of fair value of the share options [Line Items]    
Outstanding at January 1 78,435 41,400
Granted during the year 8,820,402 50,900
Exercised during the year
Forfeited or expired during the year (59,355) (13,865)
Outstanding at December 31 8,839,482 78,435
Exercisable as of December 31 8,679,113 40,275
v3.20.4
Financial Instruments (Details) - Level 2 of fair value hierarchy [member]
 12 Months Ended
Dec. 31, 2020
Financial Instruments (Details) [Line Items]  
Expected dividend yield 0.00%
Bottom of range [member]  
Financial Instruments (Details) [Line Items]  
Expected term of warrant 3 years 36 days
Expected volatility 118.77%
Risk-free rate 0.17%
Top of range [member]  
Financial Instruments (Details) [Line Items]  
Expected term of warrant 3 years 248 days
Expected volatility 128.10%
Risk-free rate 0.24%
v3.20.4
Financial Instruments (Details) - Schedule of classification and linkage terms of financial instruments
₪ in Thousands, $ in Thousands
Dec. 31, 2020
USD ($)
Dec. 31, 2020
ILS (₪)
Dec. 31, 2019
USD ($)
Dec. 31, 2019
ILS (₪)
Financial Instruments (Details) - Schedule of classification and linkage terms of financial instruments [Line Items]        
Cash $ 585,338   $ 3,894  
Bank deposits 85,596      
Restricted deposits 468   408  
Trade receivables 713   1,816  
Other receivables 429   342  
Financial assets 672,544   6,460  
Financial liabilities at amortized cost 20,545   11,256  
Total net financial assets (liabilities) 651,999   (4,796)  
NIS [Member]        
Financial Instruments (Details) - Schedule of classification and linkage terms of financial instruments [Line Items]        
Cash | ₪   ₪ 1,057   ₪ 348
Bank deposits | ₪      
Restricted deposits | ₪   406   377
Trade receivables | ₪   17  
Other receivables | ₪   410   342
Financial assets | ₪   1,890   1,067
Financial liabilities at amortized cost | ₪   4,366   4,503
Total net financial assets (liabilities) | ₪   ₪ (2,476)   ₪ (3,436)
Linked to the U.S. dollar [Member]        
Financial Instruments (Details) - Schedule of classification and linkage terms of financial instruments [Line Items]        
Cash 584,205   3,536  
Bank deposits 85,596      
Restricted deposits 62   31  
Trade receivables 534   1,586  
Other receivables 19    
Financial assets 670,416   5,153  
Financial liabilities at amortized cost 16,134   6,740  
Total net financial assets (liabilities) 654,282   (1,587)  
Linked to the EURO and Other [Member]        
Financial Instruments (Details) - Schedule of classification and linkage terms of financial instruments [Line Items]        
Cash 76   10  
Bank deposits      
Restricted deposits    
Trade receivables 162   230  
Other receivables    
Financial assets 238   240  
Financial liabilities at amortized cost 45   13  
Total net financial assets (liabilities) $ 193   $ 227  
v3.20.4
Financial Instruments (Details) - Schedule of sensitivity analysis of changes in exchange rate of dollar
$ in Thousands
 12 Months Ended
Dec. 31, 2020
USD ($)
Increase at a rate of 5% [Member]  
Financial Instruments (Details) - Schedule of sensitivity analysis of changes in exchange rate of dollar [Line Items]  
Changes in exchange rate $ (124)
Increase at a rate of 10% [Member]  
Financial Instruments (Details) - Schedule of sensitivity analysis of changes in exchange rate of dollar [Line Items]  
Changes in exchange rate (248)
Decrease at a rate of 5% [Member]  
Financial Instruments (Details) - Schedule of sensitivity analysis of changes in exchange rate of dollar [Line Items]  
Changes in exchange rate 124
Decrease at a rate of 10% [Member]  
Financial Instruments (Details) - Schedule of sensitivity analysis of changes in exchange rate of dollar [Line Items]  
Changes in exchange rate $ 248
v3.20.4
Financial Instruments (Details) - Schedule of fair value of financial instruments position - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Financial Instruments (Details) - Schedule of fair value of financial instruments position [Line Items]    
Warrants $ 11,636 $ 2,157
Convertible notes   1,223
Financial derivatives 350 318
Total 11,986 3,698
Level 1 [Member]    
Financial Instruments (Details) - Schedule of fair value of financial instruments position [Line Items]    
Warrants
Convertible notes  
Financial derivatives
Total
Level 2 [Member]    
Financial Instruments (Details) - Schedule of fair value of financial instruments position [Line Items]    
Warrants 11,636 793
Convertible notes  
Financial derivatives 350
Total 11,986 793
Level 3 [Member]    
Financial Instruments (Details) - Schedule of fair value of financial instruments position [Line Items]    
Warrants 1,364
Convertible notes   1,223
Financial derivatives 318
Total $ 2,905
v3.20.4
Financial Instruments (Details) - Schedule of repayment dates of financial liabilities - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Financial Instruments (Details) - Schedule of repayment dates of financial liabilities [Line Items]    
Trade payables $ 776 $ 850
Other payables 5,910 3,575
Lease liabilities 2,618 2,089
Liability in respect of government grants 850 1,044
Financial liabilities 10,154 7,558
First year [Member]    
Financial Instruments (Details) - Schedule of repayment dates of financial liabilities [Line Items]    
Trade payables 776 850
Other payables 5,910 3,547
Lease liabilities
Liability in respect of government grants
Financial liabilities 6,686 4,397
More than a year [Member]    
Financial Instruments (Details) - Schedule of repayment dates of financial liabilities [Line Items]    
Trade payables
Other payables 28
Lease liabilities 2,618 2,089
Liability in respect of government grants 850 1,044
Financial liabilities $ 3,468 $ 3,161
v3.20.4
Leases (Details) - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Leases (Details) [Line Items]      
Lease liability $ 2,618,000 $ 2,089,000  
Lease liability and right-of-use asset $ 3,169,000 2,673,000  
Description of aforesaid lease agreements ends The Group leases offices in Ness- Ziona from Africa-Israel for a period of five years under a few different contracts for three different floors used for offices, labs and manufacturing facilities, at the same building. The contractual periods of the aforesaid lease agreements end in August 2021, August 2024 and December 2023. The Group has an option to extend two of the lease agreements for an additional five years for an additional monthly fee (10% increase). The Company expects to extend the lease agreement ended in August 2021 for an additional five years. The Group also leases offices in Hong-Kong. The contractual period of the aforesaid lease agreement ended in February 2021. The Group also leases offices in the U.S. for a contractual period of three years, which ends in August 2023.    
Lease payments $ 1,118,000 1,095,000
Hong-Kong [Member]      
Leases (Details) [Line Items]      
Lease liability 3,660,000    
Lease liability and right-of-use asset $ 3,078,000    
Vehicles [member]      
Leases (Details) [Line Items]      
Lease liability   106,000  
Lease liability and right-of-use asset   $ 91,000  
v3.20.4
Leases (Details) - Schedule of lease liability and right of use asset - Leases of offices [Member] - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Leases (Details) - Schedule of lease liability and right of use asset [Line Items]    
Balance $ 2,673 $ 1,891
Depreciation 856 842
Additions 1,421 1,624
Disposals 69  
Balance 3,169 2,673
Buildings [member]    
Leases (Details) - Schedule of lease liability and right of use asset [Line Items]    
Balance 2,506 1,687
Depreciation 740 706
Additions 1,312 1,525
Disposals  
Balance 3,078 2,506
Vehicles [member]    
Leases (Details) - Schedule of lease liability and right of use asset [Line Items]    
Balance 167 204
Depreciation 116 136
Additions 109 99
Disposals 69  
Balance $ 91 $ 167
v3.20.4
Leases (Details) - Schedule of maturity analysis of the group's lease liabilities - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Leases (Details) - Schedule of maturity analysis of the group's lease liabilities [Line Items]    
Total $ 3,766  
Current maturities of lease liability 1,148 $ 1,055
Long-term lease liability 2,618  
Not later than one year [member]    
Leases (Details) - Schedule of maturity analysis of the group's lease liabilities [Line Items]    
Total 1,148  
One to five years [Member]    
Leases (Details) - Schedule of maturity analysis of the group's lease liabilities [Line Items]    
Total $ 2,618  
v3.20.4
Transactions and balances with related parties (Details) - USD ($)
 12 Months Ended
Jul. 07, 2020
Dec. 31, 2020
Transactions and balances with related parties (Details) [Line Items]    
Share-based payment expenses   $ 16,666,000
Officers and directors [Member]    
Transactions and balances with related parties (Details) [Line Items]    
Grant of stock options 1,000,000  
Exercise price $ 0.70  
v3.20.4
Transactions and balances with related parties (Details) - Schedule of Balances with related parties - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Related parties [Member]    
Transactions and balances with related parties (Details) - Schedule of Balances with related parties [Line Items]    
Other payables $ 207 $ 130
v3.20.4
Transactions and balances with related parties (Details) - Schedule of Shareholder and other related parties benefits
$ in Thousands
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Schedule of Shareholder and other related parties benefits [Abstract]      
Salaries and related expenses- related parties employed by the Group $ 18,252 [1] $ 1,047 $ 829
Number of related parties 5 4 4
Compensation for directors not employed by the Group $ 2,204 $ 218 $ 311
Number of directors 6 6 7
[1] Includes share-based payment expenses of $16,666,000, see note 17.B regarding warrants issued to the CEO.
v3.20.4
Events after the reporting date (Details) - USD ($)
 2 Months Ended
Feb. 28, 2021
Jan. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Events after the reporting date (Details) [Line Items]        
Ordinary shares issued 74,100,000 74,100,000 4,179 1,931
Gross proceeds from the offering (in Dollars) $ 833,000,000      
Warrants [Member]        
Events after the reporting date (Details) [Line Items]        
Ordinary shares issued 1,137,500 1,137,500