0001493152-25-009909 | 10-K | XBRL Viewer

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SCHEDULE OF INVENTORIES (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Finished goods	$ 18	$ 210
Work in process	638	562
Raw materials and supplies	1,914	1,334
Total inventory	$ 2,570	$ 2,106

SCHEDULE OF LONG-LIVED ASSETS BY GEOGRAPHIC REGION (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 4,731	$ 2,533
ISRAEL
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	2,750	2,533
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 1,981

SCHEDULE OF RESTRICTED STOCK GRANTED TO EMPLOYEES (Details) - Employee [Member] - Restricted Stock [Member] - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Number of restricted stock, Outstanding - beginning of period	3,054,086	355,951
Number of restricted stock, Granted	2,217,966	2,914,340
Number of restricted stock, Forfeited	(128,660)	(29,695)
Number of restricted stock, Vested	(1,069,428)	(186,510)
Number of restricted stock, Outstanding - end of period	4,073,964	3,054,086

Consolidated Statements of Changes in Equity - USD ($)
$ in Thousands

Common Stock [Member]

Preferred Stock [Member]

Series C Preferred Stock [Member]

Additional Paid-in Capital [Member]

Retained Earnings [Member]

Total

Balance, value at Dec. 31, 2022

$ 1

$ 218,977

$ (201,585)

$ 17,393

Balance, shares at Dec. 31, 2022

8,330,918

1,718

Net loss

(19,916)

Exercise of pre-funded warrants

Exercise of pre-funded warrants, shares

307,260

307,271

Issuance of common shares, pre-funded warrants and warrants, net of $4,635 issuance costs

$ 1

37,533

$ 37,534

Issuance of common shares, pre-funded warrants and warrants, net of $4,635 issuance costs, shares

10,266,270

Share-based compensation related to stock, restricted stock, restricted stock units and stock options award, net of forfeitures of 128,660 shares

^[1]

4,490

Share-based compensation related to stock, restricted stock, restricted stock units and stock options award, shares

2,936,767

Balance, value at Dec. 31, 2023

$ 2

^[2]

261,000

(221,501)

39,501

Balance, shares at Dec. 31, 2023

21,841,215

1,718

Net loss

(32,005)

Exercise of pre-funded warrants

^[2]

Exercise of pre-funded warrants, shares

1,728,382

200,000

Share-based compensation related to stock, restricted stock, restricted stock units and stock options award, net of forfeitures of 128,660 shares

^[2]

10,138

$ 10,138

Share-based compensation related to stock, restricted stock, restricted stock units and stock options award, shares

2,101,163

Exercise of Warrants Series H to 12,621,090 pre-funded warrants and 292,996 common stock, net of $1,000 issuance costs

$ 1

16,853

16,854

Exercise of Warrants Series H to pre-funded warrants and common stock, net of issuance costs, shares

292,996

Issuance of common stock, included at the market offering net of $81 issuance costs

^[2]

1,598

Issuance of common shares, including at the market offerings, shares

647,277

Balance, value at Dec. 31, 2024

$ 3

^[2]

$ 289,589

$ (253,506)

$ 36,086

Balance, shares at Dec. 31, 2024

26,611,033

1,718

[1]	Represents an amount less than $1
[2]	Represents an amount less than $1

DISAGGREGATED REVENUE AND ENTITY WIDE DISCLOSURES:

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

DISAGGREGATED REVENUE AND ENTITY WIDE DISCLOSURES:

NOTE 13 – DISAGGREGATED REVENUE AND ENTITY WIDE DISCLOSURES:

Revenues are attributed to geographic areas based on the location of the customers. The following is a summary of revenues:


	Year ended December 31,
	2024		2023
	($ in thousands)
Italy	$	1,223	$	1,195
Germany		926		896
Russia		713		738
Other*		4,147		3,376
Revenues	$	7,009	$	6,205

Other countries don’t exceed 10% in the years ended December 2024 and 2023.

By principal customers (part of revenues):


	Year ended December 31,
	2024			2023
Customer A		13	%		14	%
Customer B		10	%		12	%
Sales percentage		10	%		12	%

The following table presents the Company’s long-lived assets by geographic region, which consist of property, plant and equipment, net and operating lease right of use assets:


	December 31,
	2024		2023
	($ in thousands)
Israel		2,750		2,533
United States		1,981		-
Total long-lived assets	$	4,731		2,533

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

TAXES ON INCOME: (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

SCHEDULE OF COMPONENTS OF LOSS BEFORE INCOME TAXES

The components of loss before income taxes are as follows:

	Year ended December 31
	2024			2023
	($ in thousands)
Loss before taxes on income:
InspireMD, Inc.	$	(10,385	)	$	(5,772	)
Subsidiaries		(21,561	)		(14,079	)
	$	(31,946	)	$	(19,851	)

SCHEDULE OF CHANGES IN VALUATION ALLOWANCE

The changes in the valuation allowance for the years ended December 31, 2024 and 2023 were as follows:

	Year ended December 31
	2024		2023
	($ in thousands)
Balance at the beginning of the year	$	42,651	$	40,071
Changes during the year:
Losses during the year (including foreign exchange rate effect)		5,779		2,580
Balance at the end of the year	$	48,430	$	42,651

SCHEDULE OF RECONCILIATION OF UNCERTAIN TAX POSITIONS

The following is a reconciliation of the total amounts of the Company’s uncertain tax positions during the years ended December 31, 2024 and 2023:

	Year ended December 31,
	2024		2023
	($ in thousands)
Balance at beginning of the year	$	168	$	106
Additions related to uncertain tax positions taken this year		57		62
Balance at end of the year	$	225	$	168

SCHEDULE OF OPEN TAX YEARS BY MAJOR JURISDICTION

A summary of open tax years by major jurisdiction is presented below:

Jurisdiction			Years
U.S.			2021-2024
Israel			2020-2024
Germany			2021-2024

SCHEDULE OF DEFERRED INCOME TAX


	December 31,
	2024			2023
	($ in thousands)

Provision for vacation and recreation pay		82			68
R&D expenses		2,204			1,691
Operating lease right of use assets		(525	)		(339	)
Operating lease liabilities		554			367
Share-based compensation		4,489			3,492
Marketable securities		(100	)		-
Carry forward tax losses		41,699			37,342
Accrued severance pay, net		27			30
Deferred tax assets noncurrent		48,430			42,651
Less-valuation allowance		(48,430	)		(42,651	)
Deferred tax assets		-			-

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

SCHEDULE OF SEGMENT REVENUE

The following table summarizes the Company’s segment revenue, significant segment expenses, and segment loss.

SCHEDULE OF SEGMENT REVENUE


	Year ended December 31,

	2024			2023
Revenues		7,009			6,205

Cost of Revenues:
Material and Labor		4,698			3,807
Other cost of revenues		805			591
Total Cost of Revenues		5,503			4,398

Research and development (R&D)
Payroll and Benefits		2,858			1,916
Share based compensation		2,412			649
Clinical trials		3,815			3,300
Other R&D		4,549			2,116
Total Research and development		13,634			7,981

Selling and marketing (S&M)
Payroll and Benefits		3,769			2,508
Share based compensation		1,025			416
Other S&M		1,275			941
Total Selling and marketing		6,069			3,865

General and administrative (G&A)
Payroll and Benefits		4,221			3,344
Share based compensation		6,445			3,332
Other G&A		4,640			4,428
Total General and administrative		15,306			11,104

Financial Income, net;		1,557			1,292
Tax Expenses		59			65
Segment net Loss		(32,005	)		(19,916	)

FAIR VALUE MEASUREMENTS (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Cost of marketable securities	$ 15,277	$ 28,727

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION: (Tables)

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

SCHEDULE OF INVENTORIES


	December 31,
	2024		2023
	($ in thousands)
Finished goods	$	18	$	210
Work in process		638		562
Raw materials and supplies		1,914		1,334
Total inventory	$	2,570	$	2,106

SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUALS - OTHER

Accounts payable and accruals-other:


	December 31,
	2024		2023
	($ in thousands)
Employees and employee institutions	$	3,414	$	2,188
Accrued vacation and recreation pay		369		287
Accrued expenses		1,325		1,115
Clinical trial accrual		519		744
Current Operating lease liabilities		542		557
Other		255		190
	$	6,424	$	5,081

LEASE AGREEMENTS

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

LEASE AGREEMENTS

NOTE 7 – LEASE AGREEMENTS

On October 9, 2024, the Company entered into a lease agreement in Miami, Florida (the “U.S. Lease”) for the establishment of its new global headquarters.

The U.S. lease rent commences on the date that the landlord delivers the entire premises to the Company with (i) the landlord’s completion of the construction of Suite 280 and (ii) the construction of Suite 215 being substantially complete (the “Commencement Date”). The U.S. lease will be in effect until August 31, 2030, with an option for a five-year extension in accordance with the lease terms. However, the Company has determined that the lease renewal option is not reasonably certain to be exercised due to operational and strategic factors.

Under the U.S. Lease, the Company will pay the landlord a security deposit of $500 thousand. Provided the Company does not default, the security deposit will be refunded at specified intervals throughout the lease term. The present value of the deposit as of December 31, 2024, is $426 thousand, and it is classified as Long-term Deposit while the remaining is included as Operating Lease Right of Use Assets.

The Company took possession of Suite 215 as of November 1, 2024 (“Commencement Date”), and it expects to take possession of Suite 280 in May 2025 following the substantial completion of landlord improvements as outlined in the U.S. Lease.

The Company’s Israeli subsidiary had a lease agreement for a facility in Israel (the “Israeli Lease”), which expired on December 31, 2022 with an option to extend the Israeli Lease for two additional years until December 31, 2024. On May 25, 2022 the Company amended the Israeli Lease and extended it until December 31, 2026 and also leased additional space in the facility.

On August 24, 2023, the Company amended the Israeli Lease, leasing additional space in the facility and shortened the lease term of another space in the building. The balances of right of use assets and lease liabilities increased due to the newly leased space and decreased due to the lease that was shortened.

On March 14, 2024, the Company amended the Israeli Lease, modifying the structure of the extension options. While the lease term currently extends through December 31, 2027, any extensions beyond this date are subject to the landlord’s approval and are not solely at the Company’s discretion.

In the fourth quarter of 2024, as part of the approval of the Company’s long term strategic production plan, the Company reassessed its long-term leasing strategy. Following this reassessment, the Company updated its assumption on the lease term for the Israeli premise and included the optional period until the end of 2027 within the lease term.

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

Operating lease cost for the years ended December 31, 2024 and 2023 in Tel-Aviv was $423 and $433 thousand respectively.

Operating lease cost for the years ended December 31, 2024 and 2023 in Miami was $34 thousand and $0 respectively.

In addition to the fixed lease payments in Miami, the Company incurred variable expenses related to the lease, including utilities, maintenance, and other common area costs, totaling approximately $21 thousand for the year ended December 31, 2024.

Supplemental information related to leases are as follows:

	2024			2023
	December 31,
	2024			2023
	($ in thousands)
Operating lease right-of-use assets		2,360			1,473
Current Operating lease liabilities		(542	)		(557	)
Non-current operating lease liabilities		(1,796	)		(1,038	)

Other information:

Operating cash flows from operating leases (cash paid in thousands)	(745	)	(429	)
Weighted Average Remaining Lease Term	3.93		3
Weighted Average Discount Rate	11.82	%	9.73	%

Maturities of lease liabilities as of December 31, 2024 are as follows:

	Amount
	($ in thousands)
2025		571
2026		853
2027		922
2028		217
2029 onwards		376
Total lease payments		2,939
Less imputed interest		(601	)
Total		2,338

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

RELATED PARTIES TRANSACTIONS (Details Narrative) - USD ($) $ in Thousands				12 Months Ended
	Jul. 01, 2024	Jan. 01, 2024	Sep. 15, 2023	Dec. 31, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Issuance of shares		11,854
Accrued fees					$ 55,000
2021 Equity Incentive Plan [Member]
Related Party Transaction [Line Items]
Issuance of shares					32,125,000
Cash paid					$ 22,875
Related Party [Member]
Related Party Transaction [Line Items]
Consulting expenses				$ 75,522	11,440
Consultancy Agreement [Member]
Related Party Transaction [Line Items]
Aggregate amount	$ 120,000
Fixed hourly consulting fee	$ 100		$ 50
Director [Member]
Related Party Transaction [Line Items]
Aggregate amount					$ 788
Non Employee Directors [Member]
Related Party Transaction [Line Items]
Issuance of shares					52,129

DISAGGREGATED REVENUE AND ENTITY WIDE DISCLOSURES: (Tables)

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

SCHEDULE OF REVENUES ATTRIBUTED TO GEOGRAPHIC AREAS

Revenues are attributed to geographic areas based on the location of the customers. The following is a summary of revenues:


	Year ended December 31,
	2024		2023
	($ in thousands)
Italy	$	1,223	$	1,195
Germany		926		896
Russia		713		738
Other*		4,147		3,376
Revenues	$	7,009	$	6,205

Other countries don’t exceed 10% in the years ended December 2024 and 2023.

SCHEDULE OF REVENUES ATTRIBUTED TO GEOGRAPHIC AREAS BY PRINCIPAL CUSTOMERS

By principal customers (part of revenues):


	Year ended December 31,
	2024			2023
Customer A		13	%		14	%
Customer B		10	%		12	%
Sales percentage		10	%		12	%

SCHEDULE OF LONG-LIVED ASSETS BY GEOGRAPHIC REGION

The following table presents the Company’s long-lived assets by geographic region, which consist of property, plant and equipment, net and operating lease right of use assets:


	December 31,
	2024		2023
	($ in thousands)
Israel		2,750		2,533
United States		1,981		-
Total long-lived assets	$	4,731		2,533

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION:

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION:

NOTE 12 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION:

Balance sheets:

Inventory:

SCHEDULE OF INVENTORIES


	December 31,
	2024		2023
	($ in thousands)
Finished goods	$	18	$	210
Work in process		638		562
Raw materials and supplies		1,914		1,334
Total inventory	$	2,570	$	2,106

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

NOTE 12 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION (continued):

Accounts payable and accruals-other:


	December 31,
	2024		2023
	($ in thousands)
Employees and employee institutions	$	3,414	$	2,188
Accrued vacation and recreation pay		369		287
Accrued expenses		1,325		1,115
Clinical trial accrual		519		744
Current Operating lease liabilities		542		557
Other		255		190
	$	6,424	$	5,081

DESCRIPTION OF BUSINESS

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

DESCRIPTION OF BUSINESS

NOTE 1 - DESCRIPTION OF BUSINESS

	a.	General

		InspireMD, Inc., a Delaware corporation (the “Company”), together with its subsidiaries, including InspireMD Ltd., an Israeli corporation, and InspireMD GmbH, a German corporation, is a medical device company focusing on the development and commercialization of products for the treatment of carotid artery disease and other vascular disease, including the Company’s proprietary CGuard™ stent platform. A stent is an expandable scaffold-like device, usually constructed of a metallic material, that is inserted into the lumen of an artery to create patency and improved blood flow. A sleeve of MicroNet™ mesh is attached over a stent to provide embolic protection both during and after stenting procedures.

		The Company’s carotid product (CGuard™ EPS) combines MicroNet and a self-expandable nitinol stent in a single device to treat carotid artery disease.

		The Company markets its products through distributors in international markets, mainly in Europe, and is seeking FDA approval for its CGuard Prime carotid stent system to enter the U.S. market.

	b.	Liquidity

		The Company has an accumulated deficit as of December 31, 2024, as well as a history of net losses and negative operating cash flows. The Company expects to continue incurring losses and negative cash flows from operations until its product, CGuard™ EPS, reaches commercial profitability. As a result of these expected losses and negative cash flows from operations, along with the Company’s current cash position, the Company does not have sufficient resources to fund operations for at least the next 12 months. Therefore, there is substantial doubt about the Company’s ability to continue as a going concern. These consolidated financial statements have been prepared assuming that the Company will continue as a going concern and do not include any adjustments that might result from the outcome of this uncertainty.

		Management’s plans include the continued commercialization of the Company’s product and raising capital through the sale of additional equity securities, debt or capital inflows from strategic partnerships and exercises of warrants. There are no assurances however, that the Company will be successful in obtaining the level of financing needed for its operations. If the Company is unsuccessful in commercializing its products and raising capital, it may need to reduce activities, curtail or cease operations.

	c.	Risks Related to the Company’s Operations in Israel

		In October 2023, Israel was attacked by a terrorist organization and entered a state of war on several fronts. As of the date of these consolidated financial statements, sustained conflict in the region is ongoing and Israel has entered into certain ceasefires, the results of which are uncertain. The Company operations, including its production facility, are located in Israel. Currently, such activities in Israel remain largely unaffected.

		During the years ended December 31, 2024 and 2023, the impact of this war on the Company’s results of operations and financial condition was immaterial, but such impact may increase, which could be material, as a result of the continuation, escalation or expansion of such war.

	d.	Risks Related to the Geopolitical and Military Tensions Between Russia and Ukraine in Europe

		The Company derived approximately 14.5% and 13.5% in the years ended December 31, 2024 and 2023, respectively, of total sales in Russia and Belarus. The escalation of geopolitical instability in Russia and Ukraine as well as currency fluctuations in the Russian Ruble could negatively impact the Company’s operations, sales, and future growth prospects in that region.

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

DESCRIPTION OF BUSINESS (Details Narrative)	12 Months Ended
DESCRIPTION OF BUSINESS (Details Narrative)	Dec. 31, 2024	Dec. 31, 2023
Russia and Belarus [Member] \| Sales [Member] \| Geographic Concentration Risk [Member]
Product Information [Line Items]
Sales percentage	14.50%	13.50%

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2024
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SCHEDULE OF FAIR VALUE OF MARKETABLE SECURITIES CLASSIFIED BY MATURITY (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Amounts maturing within one year	$ 15,721	$ 24,523
Amounts maturing after one year through two years		4,860
Marketable securities	$ 15,721	$ 29,383

SCHEDULE OF REVENUES ATTRIBUTED TO GEOGRAPHIC AREAS BY PRINCIPAL CUSTOMERS (Details) - Sales [Member] - Customer Concentration Risk [Member]	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Customer A [Member]
Disaggregation of Revenue [Line Items]
Sales percentage	13.00%	14.00%
Customer B [Member]
Disaggregation of Revenue [Line Items]
Sales percentage	10.00%	12.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

SCHEDULE OF RESTRICTED STOCK UNIT GRANTED TO EMPLOYEES (Details) - Employee [Member] - Restricted Stock Units (RSUs) [Member] - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Number of restricted stock, Outstanding - beginning of period	1,282,228	237,078
Number of restricted stock, Granted	563,499	1,045,150
Number of restricted stock, Outstanding - end of period	1,845,727	1,282,228

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

NOTE 3 – FAIR VALUE MEASUREMENTS

As of December 31, 2024 and 2023, the carrying amounts of accounts payable, accounts receivable and other receivables approximate their fair values due to the short-term maturities of these instruments.

The carrying amount of the long-term deposit approximates its fair value since it is measured at its present value applying prevailing interest rates, see note 7.

The Company’s financial assets subject to fair value measurements on a recurring basis and the level of inputs used in such measurements were as follows:

	Total		Level 1		Level 2		Level 3
	As of December 31, 2024 ($ in thousands)
	Total		Level 1		Level 2		Level 3

Assets:
Cash equivalents-
Money market funds	$	6,281	$	6,281	$	-	$	-

Marketable securities-
U.S government bonds	$	15,721	$	-	$	15,721	$	-

	Total		Level 1		Level 2		Level 3
	As of December 31, 2023 ($ in thousands)
	Total		Level 1		Level 2		Level 3

Assets:
Cash equivalents-
Money market funds	$	7,094	$	7,094	$	-	$	-
Cash equivalents	$	7,094	$	7,094	$	-	$	-

Marketable securities-
U.S. government bonds	$	29,383	$	-	$	29,383	$	-
Marketable securities	$	29,383	$	-	$	29,383	$	-

The Company’s debt securities are classified within Level 1 and Level 2 because it uses quoted market prices or alternative pricing sources and models utilizing market observable inputs to determine their fair value.

The cost of marketable securities as of December 31, 2024 and 2023 is $15,277 and 28,727 thousand, respectively.

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

SCHEDULE OF PROPERTY PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 4,691	$ 3,100
Less - accumulated depreciation and amortization	(2,320)	(2,040)
Net carrying amount	2,371	1,060
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	726	425
Office Furniture And Equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	464	249
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	2,640	1,702
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 861	$ 724

EQUITY (Tables)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

SCHEDULE OF EXERCISE OF WARRANTS AND PRE FUNDED WARRANTS

SCHEDULE OF ISSUANCE OF WARRANTS TO PURCHASE COMMON STOCK

As of December 31, 2024, the Company has outstanding warrants to purchase an aggregate of 40,268,464 shares of common stock as follows:

	Number of underlying Common stock		Exercise price		Expiration date
Series F Warrants		433,878	$	7.4250	June 5, 2025-October 16, 2025
Series G Warrants		1,092,344	$	10.230	February 8, 2026
Series I Warrants		12,914,078	$	1.3827	-*
Series J Warrants		12,914,086	$	1.3827	-*
Series K Warrants		12,914,078	$	1.3827	-*
Total Warrants		40,268,464

The Warrants have a term of the earlier of (i) May 15, 2028 and (ii) (A) in the case of the Series I Warrants, 20 trading days following the Company’s announcement of receipt of Premarket Approval from the Food and Drug Administration (“FDA”) for the CGuard Prime Carotid Stent System (135 cm), (B) in the case of the Series J Warrants, 20 trading days following the Company’s announcement of receipt of FDA approval for the SwitchGuard and CGuard Prime 80 and (C) in the case on the Series K Warrants, 20 trading days following the end of the fourth fiscal quarter after the fiscal quarter in which the first commercial sales of the CGuard Carotid Stent System in the United States begins.

During the years ended December 31, 2024 and 2023, a total of 213,458 and 54,135 warrants expired, respectively.

SCHEDULE OF STOCK OPTIONS GRANTED

	Year ended December 31
	2024					2023
				Weighted					Weighted
	Number of options			average exercise price		Number of options			average exercise price
Outstanding - beginning of the year		1,379,696			2.58		294,712			5.21
Granted		777,761			3.07		1,097,250			1.89
Forfeited		(3,314	)		3.54		(12,266	)		4.00
Outstanding- end of period		2,154,143			2.76		1,379,696			2.58
Exercisable at the end of the year		644,882			3.36		215,709			5.38

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

The following table summarizes information about stock options granted to non-employees:

	Year ended December 31
	2024				2023
			Weighted				Weighted
	Number of options		average exercise price		Number of options		average exercise price
Outstanding - beginning of the year		791,669		2.06		166,669		3.37
Granted		125,000		2.37		625,000		1.71
Outstanding - end of period		916,669		2.10		791,669		2.06
Exercisable at the end of the year		387,333		2.37		84,667		3.42

SCHEDULE OF RESTRICTED STOCK GRANTED TO EMPLOYEES

	Year ended December 31
	2024			2023
	Number of restricted stock
Outstanding - beginning of the year		3,054,086			355,951
Granted		2,217,966			2,914,340
Forfeited		(128,660	)		(29,695	)
Vested		(1,069,428	)		(186,510	)
Outstanding - end of the year		4,073,964			3,054,086

SCHEDULE OF RESTRICTED STOCK UNIT GRANTED TO EMPLOYEES

	Year ended December 31
	2024		2023
	Number of RSUs
Outstanding - beginning of the year		1,282,228		237,078
Granted		563,499		1,045,150
Outstanding - end of the year		1,845,727		1,282,228

SCHEDULE OF ADDITIONAL INFORMATION ABOUT ALL OPTIONS OUTSTANDING AND EXERCISABLE

	Outstanding as of December 31, 2024
Exercise price	Options outstanding		Weighted average remaining contractual life (years)		Options exercisable
$1.15-3.14		2,686,358		8.56		704,641
$3.30-4.12		227,932		7.53		171,052
$4.95-10.05		152,469		6.00		152,469
$16.50		4,087		5.01		4,053
		3,070,846		8.35		1,032,215

SCHEDULE OF FAIR VALUE OF OPTIONS GRANTED TO EMPLOYEES

	Year ended December 31
	2024	2023
Expected life	5.125-10 years	5.125-6.5 years
Risk-free interest rates	3.93%-4.44%	3.58%-4.73%
Volatility	91.82%-119.38%	109.62%-125.61%
Dividend yield	-	-

SCHEDULE OF ALLOCATION OF TOTAL SHARE-BASED COMPENSATION EXPENSE

	Year ended December 31
	2024		2023
	($ in thousands)
Cost of revenues	$	256	$	93
Research and development		2,412		649
Sales and marketing		1,025		416
General and administrative		6,445		3,332
	$	10,138	$	4,490

SCHEDULE OF DEFERRED INCOME TAX (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Provision for vacation and recreation pay	$ 82	$ 68
R&D expenses	2,204	1,691
Operating lease right of use assets	(525)	(339)
Operating lease liabilities	554	367
Share-based compensation	4,489	3,492
Marketable securities	(100)
Carry forward tax losses	41,699	37,342
Accrued severance pay, net	27	30
Deferred tax assets noncurrent	48,430	42,651
Less-valuation allowance	(48,430)	(42,651)	$ (40,071)
Deferred tax assets

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	26,611,033	21,841,215
Common stock, shares outstanding	26,611,033	21,841,215
Series C Preferred Stock [Member]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,172,000	1,172,000
Preferred stock, shares issued	1,718	1,718
Preferred stock, shares outstanding	1,718	1,718

PROPERTY, PLANT AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

SCHEDULE OF PROPERTY PLANT AND EQUIPMENT

	2024			2023
	December 31,
	2024			2023
	($ in thousands)
Cost:
Computer equipment	$	726		$	425
Office furniture and equipment		464			249
Machinery and equipment		2,640			1,702
Leasehold improvements		861			724
Property plant and equipment, gross		4,691			3,100
Less - accumulated depreciation and amortization		(2,320	)		(2,040	)
Net carrying amount	$	2,371		$	1,060

EQUITY

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

EQUITY

NOTE 9 - EQUITY

Share capital

The Company’s shares of common stock are listed on the Nasdaq Capital Market.

Private Placement

On May 12, 2023, the Company entered into a securities purchase agreement (the “Purchase Agreement”) pursuant to which the Company agreed to sell and issue in a private placement (the “Private Placement Offering) an aggregate of 10,266,270 shares (the “Private Placement Shares”) of the Company’s common stock, pre-funded warrants (the “Pre-Funded Warrants”) to purchase up to 15,561,894 shares of common stock and warrants to purchase up to an aggregate of 51,656,328 shares of common stock, consisting of Series H warrants to purchase up to 12,914,086 shares of common stock (the “Series H Warrants”), Series I warrants to purchase up to 12,914,078 shares of common stock (the “Series I Warrants”), Series J warrants to purchase up to 12,914,086 shares of Common Stock (the “Series J Warrants”) and Series K warrants to purchase up to 12,914,078 shares of common stock (the “Series K Warrants” and together with the Series H Warrants, Series I Warrants and Series J Warrants, the “Warrants”), at an offering price of $1.6327 per Private Placement Share and associated Warrants and an offering price of $1.6326 per Pre-Funded Warrant and associated Warrants. The Private Placement Offering closed on May 16, 2023.

Aggregate gross proceeds to the Company in respect of the Private Placement Offering were $42.2 million, before deducting fees payable to the placement agent and other offering expenses payable by the Company which amounted to approximately $4.6 million. If the Warrants are exercised in cash in full this would result in an additional $71.4 million of gross proceeds.

The Pre-Funded Warrants are immediately exercisable at an exercise price of $0.0001 per share and will not expire until exercised in full. The Warrants are immediately exercisable upon issuance at an exercise price of $1.3827 per share. The Warrants have a term of the earlier of (i) five years from the date of issuance and (ii) (A) in the case of the Series H Warrants, 20 trading days following the Company’s public release of primary and secondary end points related to one year follow up study results from the Company’s C-Guardians pivotal trial, (B) in the case of the Series I Warrants, 20 trading days following the Company’s announcement of receipt of Premarket Approval (PMA) from the Food and Drug Administration, or FDA, for the CGuard Prime Carotid Stent System (135 cm), (C) in the case of the Series J Warrants, 20 trading days following the Company’s announcement of receipt of FDA approval for the SwitchGuard transcarotid system and CGuard Prime 80 cm and (D) in the case on the Series K Warrants, 20 trading days following the end of the fourth fiscal quarter after the fiscal quarter in which the first commercial sales of the CGuard Carotid Stent System in the United States begin. The Warrants may be exercised on a cashless basis if there is no effective registration statement registering the shares underlying the warrants.

In 2024 and 2023, the Company issued a total of 1,728,382 and 307,260 shares of its common stock, respectively, in connection with the exercise of Pre-Funded Warrants to purchase 1,728,390 and 307,271, respectively, shares of common stock of which 200,000 and 307,271, respectively, Pre-Funded Warrants were exercised to 199,992 and 307,260 shares of its common stock on a cashless basis.As of December 31, 2024 and 2023, there are Pre-Funded Warrants to purchase an aggregate of 26,147,323 and 15,254,623, respectively shares of common stock outstanding.

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

Pursuant to the full ratchet anti-dilution adjustment provisions in the respective certificate of designation for the Company’s Series C Preferred Stock, the conversion price of the outstanding shares of the Series C Preferred Stock was reduced to $1.3827 per share, effective as of the date of the securities purchase agreement entered for the Offering, and the number of shares of common stock issuable upon conversion of the Series C Preferred Stock increased by 5,668 additional shares of common stock upon conversion of the Series C Preferred Stock, based on 1,718 shares of Series C Preferred Stock outstanding as of May 16, 2023.

As of December 31, 2024 and 2023, there were 1,718 shares of Series C Preferred Stock outstanding, convertible into an aggregate of 7,952 shares of the Company’s common stock, with a total stated value of $10,997.

Exercise of Series H Warrant

The Series H Warrants had a term of the earlier of (i) five years from the date of issuance and (ii) (A) 20 trading days following the Company’s public release of primary and secondary end points related to one year follow up study results from the Company’s C-GUARDIANS pivotal trial.

Following the announcement on May 28, 2024 of the one year follow up study results from the Company’s C-GUARDIANS pivotal trial, the Series H Warrants were exercised in full into 292,996 shares of common stock and pre-funded warrants exercisable into 12,621,090 shares of common stock. The net proceeds to the Company from the exercise of the Series H Warrants were $16.9 million after deduction of placement agent fees of approximately $1 million. The Series H Warrants, each exercisable at $1.3827 per share of common stock and $1.3826 per pre-funded warrant, were issued as part of the Private Placement Offering.

ATM Offering

On May 31, 2024, the Company entered into an at-the-market (“ATM”) facility with Piper Sandler & Co. (“Piper”) pursuant to an Equity Distribution Agreement (the “Distribution Agreement”). In accordance with the Distribution Agreement, the Company is entitled, at its sole discretion, to offer and sell through or to Piper Sandler, acting as a sales agent, shares of its common stock having an aggregate offering price of up to $17.0 million throughout the period during which the ATM facility remains in effect. The Company has agreed to pay Piper a commission of 3.0% of the gross proceeds from the sale of shares of common stock under the ATM facility. For the year ended December 31, 2024, the net proceeds to the Company from the issuance of 647,277 shares of common stock were $1,598 thousand after deduction of issuance fees of approximately $81 thousand.

As of December 31, 2024, the Company has outstanding warrants to purchase an aggregate of 40,268,464 shares of common stock as follows:

	Number of underlying Common stock		Exercise price		Expiration date
Series F Warrants		433,878	$	7.4250	June 5, 2025-October 16, 2025
Series G Warrants		1,092,344	$	10.230	February 8, 2026
Series I Warrants		12,914,078	$	1.3827	-*
Series J Warrants		12,914,086	$	1.3827	-*
Series K Warrants		12,914,078	$	1.3827	-*
Total Warrants		40,268,464

During the years ended December 31, 2024 and 2023, a total of 213,458 and 54,135 warrants expired, respectively.

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

NOTE 9 – EQUITY (continued):

Share-Based Compensation

On September 30, 2021, at the Company’s 2021 annual meeting of stockholders, the Company’s stockholders approved the 2021 Equity Incentive Plan.

The Company’s 2021 Equity Incentive Plan provides for the granting of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards, dividend equivalent rights, and other awards, which may be granted singly, in combination, or in tandem.

As of December 31, 2024, we had 9,237,869 shares of common stock available for future issuance under the 2021 Equity Incentive Plan.

2) On September 30, 2024, the compensation committee of the Company’s board of directors approved the InspireMD, Inc. 2024 Inducement Plan (the “2024 Inducement Plan”) to be used exclusively for grants of equity-based awards to individuals who were not previously employees or directors of the Company, as an inducement material to the individual’s entry into employment with the Company.

As of December 31, 2024, the Company had 1,957,763 shares of common stock available for future issuance under the 2024 Inducement Plan.

The following table summarizes information about stock options granted to employees:

SCHEDULE OF STOCK OPTIONS GRANTED

	Year ended December 31
	2024					2023
				Weighted					Weighted
	Number of options			average exercise price		Number of options			average exercise price
Outstanding - beginning of the year		1,379,696			2.58		294,712			5.21
Granted		777,761			3.07		1,097,250			1.89
Forfeited		(3,314	)		3.54		(12,266	)		4.00
Outstanding- end of period		2,154,143			2.76		1,379,696			2.58
Exercisable at the end of the year		644,882			3.36		215,709			5.38

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

The following table summarizes information about stock options granted to non-employees:

	Year ended December 31
	2024				2023
			Weighted				Weighted
	Number of options		average exercise price		Number of options		average exercise price
Outstanding - beginning of the year		791,669		2.06		166,669		3.37
Granted		125,000		2.37		625,000		1.71
Outstanding - end of period		916,669		2.10		791,669		2.06
Exercisable at the end of the year		387,333		2.37		84,667		3.42

The following table summarizes information about restricted stock granted to employees:

	Year ended December 31
	2024			2023
	Number of restricted stock
Outstanding - beginning of the year		3,054,086			355,951
Granted		2,217,966			2,914,340
Forfeited		(128,660	)		(29,695	)
Vested		(1,069,428	)		(186,510	)
Outstanding - end of the year		4,073,964			3,054,086

The following table summarizes information about RSUs granted to employees:

	Year ended December 31
	2024		2023
	Number of RSUs
Outstanding - beginning of the year		1,282,228		237,078
Granted		563,499		1,045,150
Outstanding - end of the year		1,845,727		1,282,228

The following table provides additional information about all options outstanding and exercisable:

	Outstanding as of December 31, 2024
Exercise price	Options outstanding		Weighted average remaining contractual life (years)		Options exercisable
$1.15-3.14		2,686,358		8.56		704,641
$3.30-4.12		227,932		7.53		171,052
$4.95-10.05		152,469		6.00		152,469
$16.50		4,087		5.01		4,053
		3,070,846		8.35		1,032,215

The weighted average of the remaining contractual life of total vested and exercisable options as of December 31, 2024 was 7.73 years.

The aggregate intrinsic value of the total exercisable options as of December 31, 2024 was approximately $494,250.

The weighted average fair value of options granted to employees was $2.54 and $1.65 for the years ended December 31, 2024 and 2023, respectively. The weighted average fair value of options granted was estimated using the Black-Scholes option-pricing model.

The weighted average fair value of options granted to consultants was $1.87 and $1.50 for the years ended December 31, 2024 and 2023, respectively. The weighted average fair value of options granted was estimated using the Black-Scholes option-pricing model.

The weighted average fair value of restricted stock granted was $2.94 and $1.95 for the years ended December 31, 2024 and 2023, respectively.

The weighted average fair value of RSU granted was $3.14 and $1.76 for the years ended December 31, 2024 and 2023, respectively.

The vesting period for outstanding stock options, restricted stock, and RSUs is typically three years, with one-third of the awards vesting annually. The options and restricted stock to directors are subject to a one-year vesting period. Additionally, some of our share-based awards to service providers are performance-based, vesting upon the achievement of specified performance criteria related to clinical or marketing activities.

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

The following table sets forth the assumptions that were used in determining the fair value of options granted to employees and consultants for the year December 31, 2024 and 2023:

	Year ended December 31
	2024	2023
Expected life	5.125-10 years	5.125-6.5 years
Risk-free interest rates	3.93%-4.44%	3.58%-4.73%
Volatility	91.82%-119.38%	109.62%-125.61%
Dividend yield	-	-

The Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term. Accordingly, as to ordinary course options granted, the expected term was determined using the simplified method, which takes into consideration the option’s contractual life and the vesting periods (for non-employees, the expected term is equal to the option’s contractual life).

The annual risk-free rates are based on the yield rates of zero coupon non-index linked U.S. Federal Reserve treasury bonds as both the exercise price and the share price are in dollar terms. The Company’s expected volatility is derived from its historical data.

	9)	As of December 31, 2024, the total unrecognized compensation cost on employee and non-employee stock options, restricted stock and RSUs, related to unvested stock-based compensation, amounted to approximately $7.29 million. This cost is expected to be recognized over a weighted-average period of approximately 0.85 years. This expected cost does not include the impact of any future stock-based compensation awards.

	10)	The following table summarizes the allocation of total share-based compensation expense in the consolidated statements of operations:

	Year ended December 31
	2024		2023
	($ in thousands)
Cost of revenues	$	256	$	93
Research and development		2,412		649
Sales and marketing		1,025		416
General and administrative		6,445		3,332
	$	10,138	$	4,490

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
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+ Details

COMMITMENTS AND CONTINGENT LIABILITIES

12 Months Ended

Dec. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENT LIABILITIES

NOTE 8 - COMMITMENTS AND CONTINGENT LIABILITIES:

Distribution Agreement with Chinese Partner

On February 3, 2021, the Company entered into a distribution agreement (the “Distribution Agreement”) with three China-based partners, pursuant to which the Chinese partners will be responsible for conducting the necessary registration trials for commercial approval of the Company’s products in China, followed by an eight-year exclusive distribution right to sell the Company’s products in China with the term of the agreement continuing on a year-to-year basis unless terminated. Under the Distribution Agreement, the China-based partners will be subject to minimum purchase obligations. The Distribution Agreement may be terminated for cause upon failure to meet minimum purchase obligations, failure to obtain regulatory approvals or for other material breaches.

In addition, the agreement stipulates that if the Distributor fails to obtain the Regulatory Approvals by the time stipulated in the agreement due to the failure of the clinical trials, and this Agreement was terminated as a result of such failure to obtain Regulatory Approvals, InspireMD shall reimburse Distributor in an amount which is 50% of Distributor’s direct out of pocket costs to 3rd parties for conducting the clinical trials, which reimbursement will not exceed USD 1,000,000. The consolidated financial statements include a liability, based on 50% of the Distributor costs incurred until December 31, 2024. The liability at December 31, 2023 and 2024 is immaterial.

PROPERTY, PLANT AND EQUIPMENT (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation and amortization expenses	$ 280,000	$ 232,000

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

SCHEDULE OF FINANCIAL ASSETS SUBJECT TO FAIR VALUE MEASUREMENTS

The Company’s financial assets subject to fair value measurements on a recurring basis and the level of inputs used in such measurements were as follows:

	Total		Level 1		Level 2		Level 3
	As of December 31, 2024 ($ in thousands)
	Total		Level 1		Level 2		Level 3

Assets:
Cash equivalents-
Money market funds	$	6,281	$	6,281	$	-	$	-

Marketable securities-
U.S government bonds	$	15,721	$	-	$	15,721	$	-

	Total		Level 1		Level 2		Level 3
	As of December 31, 2023 ($ in thousands)
	Total		Level 1		Level 2		Level 3

Assets:
Cash equivalents-
Money market funds	$	7,094	$	7,094	$	-	$	-
Cash equivalents	$	7,094	$	7,094	$	-	$	-

Marketable securities-
U.S. government bonds	$	29,383	$	-	$	29,383	$	-
Marketable securities	$	29,383	$	-	$	29,383	$	-

TAXES ON INCOME: (Details Narrative) - USD ($) $ in Millions		12 Months Ended
	Dec. 29, 2016	Dec. 31, 2024	Dec. 31, 2023
Operating Loss Carryforwards [Line Items]
Federal corporate tax rate		21.00%	21.00%
State income tax rate		3.42%	3.42%
Revised tax rate on income of preferred enterprises	12.00%
Tax rate on income of beneficiary enterprises	6.00%	4.00%
Tax rate on income of beneficiary enterprises		90.00%
Net carry forward tax loss		$ 60
Operating loss carry forward subject to expiration		35
Operating loss carry forward not subject to expiration		$ 25
Net loss carryforwards percentage		80.00%
Minimum [Member]
Operating Loss Carryforwards [Line Items]
Corporate trade tax rate		7.50%
Maximum [Member]
Operating Loss Carryforwards [Line Items]
Corporate trade tax rate		16.00%
Israel Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Federal corporate tax rate		23.00%	23.00%
Net carry forward tax loss		$ 126	$ 107
Federal Ministry of Finance, Germany [Member]
Operating Loss Carryforwards [Line Items]
Federal corporate tax rate		15.825%	15.825%
Corporate trade tax rate		17.15%	17.15%

RELATED PARTIES TRANSACTIONS

12 Months Ended

Dec. 31, 2024

RELATED PARTIES TRANSACTIONS

NOTE 10 – RELATED PARTIES TRANSACTIONS

During the year ended December 31, 2023, a consulting company whose founder and chief executive officer is one of our board members provided certain marketing services in the amount of $788. No services were provided during the year ended December 31, 2024.

On September 15, 2023, the board approved the company’s entry into a consultancy agreement (the “Consultancy Agreement”) with a member of the immediate family of the Company’s chief executive officer for certain administrative projects in connection with the Company’s expansion to the U.S. until a full-time Company employee is retained in such capacity. Pursuant to the Consultancy Agreement, the Company will pay a fixed hourly fee of $50 for a maximum of 20 hours per week and customary expenses. On July 1, 2024 the audit committee amended the Consultancy Agreement. Pursuant to the amended Consultancy Agreement, the Company will pay a fixed hourly fee of $100 for a maximum of 95 hours per month in an aggregate amount not to exceed $120,000, including expenses, for the subsequent twelve month period until June 30, 2025.

Consulting expenses for the years ended December 31, 2024 and 2023, were $75,522 and $11,440, respectively.

Election to Receive Shares of Common Stock in lieu of Cash Compensation

During 2023, certain non-employee directors elected to receive all or a portion of their cash retainer amount in shares of the Company’s common stock under the 2021 Equity Incentive Plan. For a director that made that election, a stock award under the 2021 Equity Incentive Plan was paid quarterly on the first day of each next quarter (“Issuance Dates”) and became fully vested on the Issuance Dates. The stock award was determined by dividing (x) the product of the cash retainer amount and percentage of the cash retainer amount elected to be taken in shares by (y) the “Fair Market Value” (as defined in the 2021 Equity Incentive Plan) of a share on the Issuance Dates.

For the year ended 2024, no expenses were recorded in shares of the company.

During the year ended December 31, 2023 the Company issued 52,129 shares of common stock to non-employee directors who elected to receive all or a portion of their cash retainer amount for the nine months ended September 30, 2023 in shares of the Company’s common stock under the 2021 Equity Incentive Plan.

As of December 31, 2023, there was an accrual for $55,000 for director’s fees. Out of this an amount of $22,875 was paid in cash and $32,125 was issued in shares of the Company’s common stock under the 2021 Equity Incentive Plan. On January 1, 2024 the Company issued 11,854 shares of common stock.

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	12 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	Dec. 31, 2024 USD ($) segment shares	Dec. 31, 2023 USD ($) shares
Research and development costs	$ 3,815,000	$ 3,300,000
Advertising Expense	$ 691	$ 426
Number of Operating Segments \| segment	1
Series C Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount \| shares	48,681,495	59,723,455

MARKETABLE SECURITIES

12 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

MARKETABLE SECURITIES

NOTE 4 - MARKETABLE SECURITIES

The following table sets forth the Company’s marketable securities for the indicated period:

	2024		2023
	December 31,
	2024		2023
	($ in thousands)
U.S. government bonds	$	15,721	$	29,383
Marketable securities	$	15,721	$	29,383

The following table summarizes the fair value of the Company’s marketable securities classified by maturity as of December 31, 2024 and 2023:

	2024		2023
	December 31,
	2024		2023
	($ in thousands)
Amounts maturing within one year	$	15,721	$	24,523
Amounts maturing after one year through two years		-		4,860
Marketable securities	$	15,721	$	29,383

The table below sets forth a summary of the changes in the fair value of the Company’s marketable securities for the years ended December 31, 2024 and 2023:

	2024			2023
	2024			2023
	($ in thousands)

Balance at beginning of the year	$	29,383		-
Additions		14,444		34,644
Maturity		(29,000	)	(6,000	)
Interest received		(299	)	(38	)
Changes in fair value during the year		1,193		777
Balance at end of the period		15,721		29,383

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ (32,005)	$ (19,916)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

LEASE AGREEMENTS (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Security deposit	$ 500
Long term deposit	426
Tel Aviv [Member]
Operating lease cost	423	433
Miami [Member]
Operating lease cost	34	$ 0
Fixed lease payments	$ 21

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Statement of Cash Flows [Abstract]
Proceeds from issuance cost of warrants	$ 1,000	$ 1,000
Payments of stock issuance costs	$ 81	$ 4,635

LEASE AGREEMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO LEASES

Supplemental information related to leases are as follows:

	2024			2023
	December 31,
	2024			2023
	($ in thousands)
Operating lease right-of-use assets		2,360			1,473
Current Operating lease liabilities		(542	)		(557	)
Non-current operating lease liabilities		(1,796	)		(1,038	)

Other information:

Operating cash flows from operating leases (cash paid in thousands)	(745	)	(429	)
Weighted Average Remaining Lease Term	3.93		3
Weighted Average Discount Rate	11.82	%	9.73	%

SCHEDULE OF MATURITIES OF LEASE LIABILITIES

Maturities of lease liabilities as of December 31, 2024 are as follows:

	Amount
	($ in thousands)
2025		571
2026		853
2027		922
2028		217
2029 onwards		376
Total lease payments		2,939
Less imputed interest		(601	)
Total		2,338

SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 14 – SEGMENT INFORMATION

The Company has one operating and reporting segment, that develops, manufactures and markets products for the treatment of carotid artery disease and other vascular disease, including the Company’s proprietary CGuard™ stent platform. The Company’s Chief Operating Decision Maker (“CODM”), who is the CEO evaluates the Company’s performance based on its internal reporting which is consistent with the presentation in the Company’s consolidated financial statements. Accordingly, our CODM uses consolidated net loss to measure segment profit or loss, allocate resources, and assess performance.

The CODM examines, within each operational function the employee salaries including the bonus and share based compensation, clinical trials expenses within the research and development operations and certain other expenses.

The following table summarizes the Company’s segment revenue, significant segment expenses, and segment loss.

SCHEDULE OF SEGMENT REVENUE


	Year ended December 31,

	2024			2023
Revenues		7,009			6,205

Cost of Revenues:
Material and Labor		4,698			3,807
Other cost of revenues		805			591
Total Cost of Revenues		5,503			4,398

Research and development (R&D)
Payroll and Benefits		2,858			1,916
Share based compensation		2,412			649
Clinical trials		3,815			3,300
Other R&D		4,549			2,116
Total Research and development		13,634			7,981

Selling and marketing (S&M)
Payroll and Benefits		3,769			2,508
Share based compensation		1,025			416
Other S&M		1,275			941
Total Selling and marketing		6,069			3,865

General and administrative (G&A)
Payroll and Benefits		4,221			3,344
Share based compensation		6,445			3,332
Other G&A		4,640			4,428
Total General and administrative		15,306			11,104

Financial Income, net;		1,557			1,292
Tax Expenses		59			65
Segment net Loss		(32,005	)		(19,916	)

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

SCHEDULE OF MARKETABLE SECURITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Marketable Securities [Line Items]
Marketable securities	$ 15,721	$ 29,383
US Government Agencies Debt Securities [Member]
Marketable Securities [Line Items]
Marketable securities	$ 15,721	$ 29,383

SCHEDULE OF SEGMENT REVENUE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Revenues	$ 7,009	$ 6,205
Cost of Revenues:
Material and Labor	4,698	3,807
Other cost of revenues	805	591
Total Cost of Revenues	5,503	4,398
Research and development (R&D)
Share based compensation	10,138	4,490
Total Research and development	13,634	7,981
Selling and marketing (S&M)
Total Selling and marketing	6,069	3,865
General and administrative (G&A)
Total General and administrative	15,306	11,104
Financial Income, net;	1,557	1,292
Tax Expenses	59	65
NET LOSS	(32,005)	(19,916)
Research and Development Expense [Member]
Research and development (R&D)
Payroll and Benefits	2,858	1,916
Share based compensation	2,412	649
Clinical trials	3,815	3,300
Other R&D	4,549	2,116
Selling and Marketing Expense [Member]
Research and development (R&D)
Payroll and Benefits	3,769	2,508
Share based compensation	1,025	416
Selling and marketing (S&M)
Other S&M	1,275	941
General and Administrative Expense [Member]
Research and development (R&D)
Payroll and Benefits	4,221	3,344
Share based compensation	6,445	3,332
General and administrative (G&A)
Other G&A	$ 4,640	$ 4,428

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Dec. 31, 2024	Mar. 12, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2024
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	001-35731
Entity Registrant Name	InspireMD, Inc.
Entity Central Index Key	0001433607
Entity Tax Identification Number	26-2123838
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	6303 Waterford District Drive
Entity Address, Address Line Two	Suite 215
Entity Address, City or Town	Miami
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33126
City Area Code	(888)
Local Phone Number	776-6804
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	NSPR
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 52,421,148
Entity Common Stock, Shares Outstanding		29,689,857
Documents Incorporated by Reference [Text Block]	Portions of the Registrant’s definitive proxy statement for its 2025 Annual Meeting of Stockholders, which the Registrant intends to file pursuant to Regulation 14A with the Securities and Exchange Commission not later than 120 days after December 31, 2024, are incorporated by reference into Part III of this Annual Report on Form 10-K
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Auditor Firm ID	1309
Auditor Name	Kesselman & Kesselman
Auditor Location	Tel-Aviv, Israel

SCHEDULE OF REVENUES ATTRIBUTED TO GEOGRAPHIC AREAS (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Disaggregation of Revenue [Line Items]

Revenues

$ 7,009

$ 6,205

ITALY

Disaggregation of Revenue [Line Items]

Revenues

1,223

1,195

GERMANY

Disaggregation of Revenue [Line Items]

Revenues

926

896

RUSSIAN FEDERATION

Disaggregation of Revenue [Line Items]

Revenues

713

738

Other Countries [Member]

Disaggregation of Revenue [Line Items]

Revenues

^[1]

$ 4,147

$ 3,376

[1]	Other countries don’t exceed 10% in the years ended December 2024 and 2023.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES

a. Use of estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates using assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

As applicable to these consolidated financial statements, the most significant estimates and assumptions relate to the determination of the lease terms in operating leases.

b. Functional currency

The currency of the primary economic environment in which the operations of the Company and its subsidiaries are conducted is the U.S. dollar (“$” or “dollar”). Accordingly, the functional currency of the Company and its subsidiaries is the U.S. dollar.

The dollar figures are determined as follows: transactions and balances originally denominated in dollars are presented in their original amounts. Balances in foreign currencies are translated into dollars using historical and current exchange rates for non-monetary and monetary balances, respectively. The resulting translation gains or losses are recorded as financial income or expense, as appropriate. For transactions reflected in the statements of operations in foreign currencies, the exchange rates at transaction dates are used. Depreciation and changes in inventories and other changes deriving from non-monetary items are based on historical exchange rates.

c. Principles of consolidation

The consolidated financial statements include the accounts of the Company and of its subsidiaries. Intercompany transactions and balances have been eliminated upon consolidation.

d. Cash and cash equivalents

The Company considers all highly liquid investments purchased with original maturities of three months or less from the purchase date to be cash equivalents. As of December 31, 2024 and 2023, cash and cash equivalents consisted of cash, short-term deposits (up to three months from the date of deposit) and money market funds.

e. Marketable securities

Marketable securities consist of debt securities. The Company elected the fair value option to measure and recognize its investments in debt securities in accordance with ASC 825, Financial Instruments as the Company manages its portfolio and evaluates the performance on a fair value basis. Changes in fair value, realized gains and losses on sales of marketable securities, are reflected in the consolidated statements of operation as finance expense (income), net.

Marketable securities are classified under current assets in the consolidated balance sheets as they represent the investment of funds available for the Company’s current operations.

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (continued):

f. Concentration of credit risk and allowance for doubtful accounts

Financial instruments that may potentially subject the Company to a concentration of credit risk consist of cash and cash equivalents, marketable securities and long-term deposits, which are deposited in major financially sound institutions in the U.S. Israel and Germany, and trade accounts receivable and other receivables. The Company’s trade accounts receivable is derived from revenues earned from customers from various countries. The Company performs ongoing credit evaluations of its customers’ financial condition and, requires no collateral from its customers. The Company also has a credit insurance policy for some of its customers. The Company maintains the allowance for estimated losses resulting from the inability of the Company’s customers to make required payments. The allowance represents the current estimate of lifetime expected credit losses over the remaining duration of existing accounts receivable considering current market conditions and supportable forecasts when appropriate. The estimate is a result of the Company’s ongoing evaluation of collectability, customer creditworthiness, historical levels of credit losses, and future expectations. The allowance for expected credit losses was immaterial during the periods presented.

g. Inventory

Inventories are stated at the lower of cost (cost is determined on a “first-in, first-out” basis) or net realizable value. The Company’s inventories generally have a limited shelf life and are subject to impairment as they approach their expiration dates. The Company regularly evaluates the carrying value of its inventory and when, based on such evaluation, factors indicate that impairment has occurred, the Company impairs the inventories’ carrying value. There were no impairments or inventory allowances during the years ended December 31, 2024 and 2023.

h. Leases

Operating leases are included in operating lease right-of-use (“ROU”) assets. Short-term balances regarding lease liabilities are included in accounts payable and accruals - Other and long-term balances regarding lease liabilities are included in operating lease liabilities. ROU assets represent Company’s right to use an underlying asset for the lease term and lease liabilities represent obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. In determining the present value of lease payments, the Company uses the incremental borrowing rate based on the information available at the lease commencement date as the rate implicit in the lease is not readily determinable. The determination of the incremental borrowing rate requires management judgment based on information available at lease commencement. The lease terms may include periods covered by options to extend the lease when it is reasonably certain that the Company will exercise such options, and periods covered by options to terminate the lease when it is reasonably certain that the Company will not exercise such options. Operating lease cost is recognized on a straight-line basis over the lease term. Lease agreements that include lease and non-lease components are accounted for as a single lease component. The Company elected the short-term lease recognition exemption for leases with a lease term of 12 months or less.

i. Property, plant and equipment

Property, plant and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets: over three years for computers and other electronic equipment, and seven to fifteen years for office furniture and equipment and machinery and equipment (mainly seven years). Leasehold improvements are amortized on a straight-line basis over the term of the lease, which is shorter than the estimated life of the improvements.

j. Impairment in value of long-lived assets

The Company tests long-lived tangible assets for impairment whenever events or circumstances present an indication of impairment. If the sum of expected future cash flows (undiscounted and without interest charges) of the long-lived assets is less than the carrying amount of such assets, an impairment would be recognized, and the assets would be written down to their estimated fair values, based on expected future discounted cash flows.

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (continued):

k. Revenue recognition

A contract with a customer exists only when: 1) the parties to the contract have approved it and are committed to perform their respective obligations, 2) the Company can identify each party’s rights regarding the distinct goods or services to be transferred (“Performance Obligations”), 3) the Company can determine the transaction price for the goods or services to be transferred, 4) the contract has commercial substance and 5) it is probable that the Company will collect the consideration to which it will be entitled in exchange for the goods or services that will be transferred to the customer. Revenues are recorded in the amount of consideration to which the Company expects to be entitled in exchange for Performance Obligations upon transfer of control to the customer, excluding sales taxes.

Revenue from sales of goods, including sales to distributors, is recognized when the customer obtains control of the product, once the Company has a present right to payment and the customer has legal title, and risks and rewards of ownership are obtained by the customer. Generally, this occurs when products are shipped. In few cases when products are directly sold to medical centers on consignment basis, revenue is recognized when the product is consumed.

The Company recognizes the incremental costs of obtaining contracts as an expense since the amortization period of the assets that the Company otherwise would have recognized is one year or less. The costs are recorded under selling and marketing expenses. Disaggregated revenue is disclosed in Note 13.

The Company recognizes revenue net of value added tax (VAT).

l. Research and development costs

Research and development costs, including the costs of the Company’s U.S.-based clinical trial costs which were approximately $3,815 and $3,300 thousand for the years ended December 31, 2024 and 2023, respectively, are charged to the consolidated statements of operations as incurred.

m. Share-based compensation

The Company has equity incentive plans under which the Company grants equity awards, including stock options, restricted stock and restricted stock units (“RSUs”) to employees, directors and service providers. Employee and service providers equity awards are accounted for using the grant-date fair value method. The Company determines compensation expense associated with restricted stock and RSUs based on the fair value of our common stock on the date of grant. The fair value of option awards is estimated using the Black-Scholes valuation model and expensed over the requisite service period. The Company elected to account for forfeitures as they occur.

The Company elected to recognize compensation expenses for awards to employees with only service conditions that have graded vesting schedules using the accelerated multiple option approach. The attribution for nonemployee awards is in the same manner as if the Company had paid cash for the goods or services.

In addition, some of our share-based awards to service providers are performance based, i.e., the vesting of these awards depends upon achieving certain goals. The Company recognizes compensation expenses for awards with performance conditions when the company concludes that it is probable that the performance condition will be achieved.

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

n. Uncertain tax positions

The Company follows a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit. If under the first step a tax position is assessed to be more likely than not of being sustained on audit, the second step is performed, under which the tax benefit is measured as the largest amount that is more than 50% likely to be realized upon ultimate settlement. Such liabilities are classified as long-term, unless the liability is expected to be resolved within twelve months from the balance sheet date. The Company’s policy is to include interest related to unrecognized tax benefits within “Financial income - net”.

o. Deferred income taxes

Deferred taxes are determined utilizing the “asset and liability” method based on the estimated future tax effects of differences between the financial accounting and tax bases of assets and liabilities under the applicable tax laws, and on tax rates anticipated to be in effect when the deferred taxes are expected to be paid or realized. The Company assesses realization of deferred income tax assets and, based on all available evidence, concludes whether it is more likely than not that the net deferred income tax assets will be realized. A valuation allowance is provided for the amount of deferred income tax assets not considered to be realizable.

The Company may incur an additional tax liability in the event of intercompany dividend distributions by its subsidiaries. Such additional tax liability in respect of these foreign subsidiaries has not been provided for in these consolidated financial statements as it is the Company’s policy to permanently reinvest the subsidiaries’ earnings and to consider distributing dividends only in connection with a specific tax opportunity that may arise.

Taxes that would apply in the event of disposal of investments in a foreign subsidiary have not been taken into account in computing the deferred taxes, as it is the Company’s intention to hold, and not to realize, these investments.

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (continued):

p. Advertising

Costs related to advertising and promotion of products are charged to sales and marketing expense as incurred. Advertising expenses were approximately $691 and $426 thousand for the years ended December 31, 2024 and 2023, respectively.

q. Net loss per share

Basic and diluted net loss per share is computed by dividing the net loss for the period by the weighted average number of shares of common stock, pre-funded warrants and fully vested restricted stock units outstanding during the period. The calculation of diluted net loss per share excludes the effect of potential dilution of share options, warrants, and unvested restricted stocks, unvested restricted stock units and Series C preferred stock as the effect is anti-dilutive.

For the purpose of calculating basic net loss per share, the additional shares of common stock that are issuable upon exercise of the Pre-funded Warrants have been included since the shares are issuable for a negligible consideration, as determined by the Company according to ASC 260-10-45-13, and have no vesting or other contingencies associated with them.

The total number of shares of common stock related to outstanding options, warrants, unvested restricted stock, unvested restricted stock units and Series C Preferred Stock, which were excluded from the calculations of diluted loss per share were 48,681,495 and 59,723,455 for the years ended December 31, 2024 and 2023, respectively. This amount includes 4,073,966 and 3,054,086 of unvested restricted stock included in the number of issued and outstanding shares as of December 31, 2024 and 2023, respectively.

For the years ended December 31, 2024 and 2023 the weighted average number of ordinary shares used in computing net loss per share - basic and diluted was as follows:

	2024		2023
	2024		2023

Weighted average number of ordinary shares		20,501,816		14,606,248
Weighted average Vested restricted stock units		306,731		23,335
Weighted average Pre-funded Warrants		21,119,813		9,638,598
Total Weighted average number of ordinary shares used in computing net loss per share - basic and diluted		41,928,360		24,268,181

r. Segment reporting

The Company has one operating and reportable segment. The Company has adopted the new accounting standard ASU 2023-07 “Segment Reporting: Improvements to Reportable Segment Disclosures” in 2024, see note 14.

s. Fair value measurement

The Company measures fair value and discloses fair value measurements for financial assets and liabilities. Fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

The accounting standard establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described below:

Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.

Level 2: Observable prices that are based on inputs not quoted on active markets but corroborated by market data.

Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs.

In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and considers counterparty credit risk in its assessment of fair value.

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (continued):

t. Recently issued accounting pronouncement, not yet adopted

In December 2023, the FASB issued ASU 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”. This guidance is intended to enhance the transparency and decision-usefulness of income tax disclosures. The amendments in ASU 2023-09 address investor requests for enhanced income tax information primarily through changes to disclosure regarding rate reconciliation and income taxes paid both in the U.S. and in foreign jurisdictions. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024 on a prospective basis, with the option to apply the standard retrospectively. Early adoption is permitted. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements and disclosures.

In November 2024, the FASB issued ASU No. 2024-03 Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40). The ASU improves the disclosures about a public business entity’s expenses and provides more detailed information about the types of expenses in commonly presented expense captions. The amendments require that at each interim and annual reporting period an entity will, inter alia, disclose amounts of purchases of inventory, employee compensation, depreciation and amortization included in each relevant expense caption (such as cost of sales, SG&A and research and development). The ASU is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating this ASU to determine its impact on the Company’s financial statements and disclosures.

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

SCHEDULE OF ISSUANCE OF WARRANTS TO PURCHASE COMMON STOCK (Details) - $ / shares

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Class of Stock [Line Items]

Total Warrants

40,268,464

Warrants expired

213,458

54,135

Series F Warrants [Member]

Class of Stock [Line Items]

Total Warrants

433,878

Weighted average exercise price

$ 7.4250

Expiration date

June 5, 2025-October 16, 2025

Series G Warrants [Member]

Class of Stock [Line Items]

Total Warrants

1,092,344

Weighted average exercise price

$ 10.230

Expiration date

Feb. 08, 2026

Series I Warrants [Member]

Class of Stock [Line Items]

Total Warrants

12,914,078

Weighted average exercise price

$ 1.3827

Expiration date

^[1]

Series J Warrants [Member]

Class of Stock [Line Items]

Total Warrants

12,914,086

Weighted average exercise price

$ 1.3827

Expiration date

^[1]

Series K Warrants [Member]

Class of Stock [Line Items]

Total Warrants

12,914,078

Weighted average exercise price

$ 1.3827

Expiration date

^[1]

[1]

SCHEDULE OF FAIR VALUE OF OPTIONS GRANTED TO EMPLOYEES (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Risk-free interest rate, minimum	3.93%	3.58%
Risk-free interest rate, maximum	4.44%	4.73%
Volatility, minimum	91.82%	109.62%
Volatility, maximum	119.38%	125.61%
Dividend yield
Minimum [Member]
Expected life	5 years 1 month 15 days	5 years 1 month 15 days
Maximum [Member]
Expected life	10 years	6 years 6 months

Consolidated Balance Sheets - USD ($)
$ in Thousands

Dec. 31, 2024

Dec. 31, 2023

CURRENT ASSETS:

Cash and cash equivalents

$ 18,916

$ 9,640

Marketable securities

15,721

29,383

Accounts receivable:

Trade, net

1,572

1,804

Other

682

648

Prepaid expenses

1,060

578

Inventory

2,570

2,106

TOTAL CURRENT ASSETS

40,521

44,159

NON-CURRENT ASSETS:

Long term deposit

426

Property, plant and equipment, net

2,371

1,060

Operating lease right of use assets

2,360

1,473

Fund in respect of employee rights upon retirement

1,129

951

TOTAL NON-CURRENT ASSETS

6,286

3,484

TOTAL ASSETS

46,807

47,643

Accounts payable and accruals:

Trade

1,254

939

Other

6,424

5,081

TOTAL CURRENT LIABILITIES

7,678

6,020

LONG-TERM LIABILITIES:

Operating lease liabilities net of current maturities

1,796

1,038

Liability for employee rights upon retirement and others

1,247

1,084

TOTAL LONG-TERM LIABILITIES

3,043

2,122

TOTAL LIABILITIES

10,721

8,142

COMMITMENTS AND CONTINGENT LIABILITIES (Note 8)

EQUITY:

Common stock, par value $0.0001 per share; 150,000,000 shares authorized at December 31, 2024 and 2023; 26,611,033 and 21,841,215 shares issued and outstanding at December 31, 2024 and 2023, respectively

Preferred C shares, par value $0.0001 per share; 1,172,000 shares authorized at December 31, 2024 and 2023; 1,718 shares issued and outstanding at December 31, 2024 and 2023;

^[1]

Additional paid-in capital

289,589

261,000

Accumulated deficit

(253,506)

(221,501)

Total equity

36,086

39,501

Total liabilities and equity

$ 46,807

$ 47,643

[1]	Represents an amount less than $1

SUBSEQUENT EVENTS:

12 Months Ended

Dec. 31, 2024

Subsequent Events [Abstract]

SUBSEQUENT EVENTS:

NOTE 15 - SUBSEQUENT EVENTS:

Subsequent to December 31, 2024, the Company granted 2,253,445 restricted shares of the Company’s common stock to employees and directors. The shares to employees are subject to a three-year vesting period, with one-third of such awards vesting each year. The shares to directors are subject to a one-year vesting period.

Subsequent to December 31, 2024, the Company granted 558,417 restricted share units of the Company’s common stock to the chief executive officer. The shares are subject to a three-year vesting period, with one-third of such awards vesting each year.

Subsequent to December 31, 2024, the Company granted to employees and directors options to purchase a total of 848,204 shares of the Company’s common stock. The options have an exercise price of $2.76 per share, which was the fair market value of the Company’s common stock on the date of the grant. The options to employees are subject to a three-year vesting period, with one-third of such awards vesting each year. The options to directors are subject to a one-year vesting period.

LIABILITY FOR EMPLOYEE RIGHTS UPON RETIREMENT AND OTHERS

12 Months Ended

Dec. 31, 2024

Retirement Benefits [Abstract]

LIABILITY FOR EMPLOYEE RIGHTS UPON RETIREMENT AND OTHERS

NOTE 6 - LIABILITY FOR EMPLOYEE RIGHTS UPON RETIREMENT AND OTHERS

Israeli labor law generally requires payment of severance pay upon dismissal of an employee or upon termination of employment in certain other circumstances.

Pursuant to section 14 of the Israeli Severance Compensation Act, 1963, most of the Company’s employees are entitled to have monthly deposits, at a rate of 8.33% of their monthly salary, made in their name with insurance companies. Payments in accordance with section 14 relieve the Company from any future severance payments to these employees. The severance pay expenses for such employees were approximately $293,000 and $256,000 for the years ended December 31, 2024 and 2023, respectively.

The severance pay liability of the Company for the rest of its Israeli employees amounting to $1,224 thousand and $1,084 thousand for the years ended December 31, 2024 and 2023, respectively, reflects the undiscounted amount of the liability and is based upon the number of years of service and the latest monthly salary. The severance pay liability is partly covered by insurance policies and by regular deposits with recognized severance payment funds. The Company may only withdraw funds previously deposited for savings in connection with the payment of severance. The severance pay expenses for such employees were approximately $124,000 and $116,000 for the years ended December 31, 2024 and 2023, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480266/715-60-50-3

+ Details

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
REVENUES	$ 7,009	$ 6,205
COST OF REVENUES	5,503	4,398
GROSS PROFIT	1,506	1,807
OPERATING EXPENSES:
Research and development	13,634	7,981
Selling and marketing	6,069	3,865
General and administrative	15,306	11,104
Total operating expenses	35,009	22,950
LOSS FROM OPERATIONS	(33,503)	(21,143)
FINANCIAL INCOME, net:	1,557	1,292
LOSS BEFORE TAX EXPENSES	(31,946)	(19,851)
TAX EXPENSES	59	65
NET LOSS	$ (32,005)	$ (19,916)
NET LOSS PER SHARE - basic	$ (0.76)	$ (0.82)
NET LOSS PER SHARE - diluted	$ (0.76)	$ (0.82)
WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK USED IN COMPUTING NET LOSS PER SHARE - basic	41,928,360	24,268,181
WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK USED IN COMPUTING NET LOSS PER SHARE - diluted	41,928,360	24,268,181

SCHEDULE OF CHANGES IN FAIR VALUE OF MARKETABLE SECURITIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Balance at beginning of the year	$ 29,383
Additions	14,444	34,644
Maturity	(29,000)	(6,000)
Interest received	(299)	(38)
Changes in fair value during the year	1,193	777
Balance at end of the period	$ 15,721	$ 29,383

SCHEDULE OF WEIGHTED AVERAGE NUMBER OF SHARES (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Weighted average number of ordinary shares	20,501,816,000	14,606,248,000
Weighted average Vested restricted stock units	306,731,000	23,335,000
Weighted average Pre-funded Warrants	21,119,813,000	9,638,598,000
Total Weighted average number of ordinary shares used in computing net loss per share - basic	41,928,360	24,268,181
Total Weighted average number of ordinary shares used in computing net loss per share - diluted	41,928,360	24,268,181

SCHEDULE OF OPEN TAX YEARS BY MAJOR JURISDICTION (Details)	12 Months Ended
	Dec. 31, 2024
UNITED STATES \| Minimum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Open Tax Year	2021
UNITED STATES \| Maximum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Open Tax Year	2024
ISRAEL \| Minimum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Open Tax Year	2020
ISRAEL \| Maximum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Open Tax Year	2024
GERMANY \| Minimum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Open Tax Year	2021
GERMANY \| Maximum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Open Tax Year	2024

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Use of estimates

a. Use of estimates

As applicable to these consolidated financial statements, the most significant estimates and assumptions relate to the determination of the lease terms in operating leases.

Functional currency

b. Functional currency

Principles of consolidation

c. Principles of consolidation

The consolidated financial statements include the accounts of the Company and of its subsidiaries. Intercompany transactions and balances have been eliminated upon consolidation.

Cash and cash equivalents

d. Cash and cash equivalents

Marketable securities

e. Marketable securities

Marketable securities are classified under current assets in the consolidated balance sheets as they represent the investment of funds available for the Company’s current operations.

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (continued):

Concentration of credit risk and allowance for doubtful accounts

f. Concentration of credit risk and allowance for doubtful accounts

Inventory

g. Inventory

Leases

h. Leases

Property, plant and equipment

i. Property, plant and equipment

Impairment in value of long-lived assets

j. Impairment in value of long-lived assets

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (continued):

Revenue recognition

k. Revenue recognition

The Company recognizes revenue net of value added tax (VAT).

Research and development costs

l. Research and development costs

Share-based compensation

m. Share-based compensation

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

Uncertain tax positions

n. Uncertain tax positions

Deferred income taxes

o. Deferred income taxes

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (continued):

Advertising

p. Advertising

Net loss per share

q. Net loss per share

For the years ended December 31, 2024 and 2023 the weighted average number of ordinary shares used in computing net loss per share - basic and diluted was as follows:

	2024		2023
	2024		2023

Weighted average number of ordinary shares		20,501,816		14,606,248
Weighted average Vested restricted stock units		306,731		23,335
Weighted average Pre-funded Warrants		21,119,813		9,638,598
Total Weighted average number of ordinary shares used in computing net loss per share - basic and diluted		41,928,360		24,268,181

Segment reporting

r. Segment reporting

Fair value measurement

s. Fair value measurement

The accounting standard establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described below:

Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.

Level 2: Observable prices that are based on inputs not quoted on active markets but corroborated by market data.

Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs.

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES (continued):

Recently issued accounting pronouncement, not yet adopted

t. Recently issued accounting pronouncement, not yet adopted

PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

NOTE 5 - PROPERTY, PLANT AND EQUIPMENT

Composition of assets, grouped by major classifications, is as follows:

	2024			2023
	December 31,
	2024			2023
	($ in thousands)
Cost:
Computer equipment	$	726		$	425
Office furniture and equipment		464			249
Machinery and equipment		2,640			1,702
Leasehold improvements		861			724
Property plant and equipment, gross		4,691			3,100
Less - accumulated depreciation and amortization		(2,320	)		(2,040	)
Net carrying amount	$	2,371		$	1,060

Depreciation and amortization expenses totaled approximately $280,000 and $232,000 for the years ended December 31, 2024, and 2023, respectively, excluding fixed assets that the company purchased, which is awaiting FDA approval and, as a result, is not yet operational and not depreciated.

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

Consolidated Statements of Changes in Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Payments of stock issuance costs	$ 81	$ 4,635
Shares restricted stock award, forfeited	128,660	29,695
Number of pre-funded warrants issued	12,621,090
Proceeds from issuance of common stock	$ 1,000
Market offering costs	$ 81
Common Stock [Member]
Common stock shares issued	292,996

SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUALS - OTHER (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Employees and employee institutions	$ 3,414	$ 2,188
Accrued vacation and recreation pay	369	287
Accrued expenses	1,325	1,115
Clinical trial accrual	519	744
Current Operating lease liabilities	542	557
Other	255	190
Accounts Payable and Accruals - Other	$ 6,424	$ 5,081

TAXES ON INCOME:

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

TAXES ON INCOME:

NOTE 11 - TAXES ON INCOME:

Tax laws applicable to the Company and its subsidiaries

Taxation in the United States

InspireMD, Inc. is taxed under U.S. tax laws. Accordingly, the applicable federal corporate tax rate in 2024 and 2023 is 21%. The applicable state income tax rate in 2024 and 2023 is 3.42%.

Taxation in Israel

InspiredMD, Ltd is taxed under Israeli tax laws. Accordingly, the applicable corporate tax rate in 2024 and 2023 is 23%.

Taxation in Germany

InspireMD GmbH is taxed according to the tax laws in Germany. Accordingly, the applicable tax rates are corporate tax rate of 15.825% and trade tax rate of 17.15% in 2024 and 2023

Tax benefits under the Law for the Encouragement of Capital Investments, 1959 (the “Law”):

On December 29, 2016, the Investment Law was amended (“73 Amendment”), which includes, inter alia, two new tax incentive opportunities. These are the Preferred Technological Enterprise (“PTE”) and Special Preferred Technological Enterprise (“SPTE”). In order to benefit from either of these options, a company must meet certain qualifications and receive formal approval from the Israel Innovation Authority (“IIA”) which allows the company to use the reduced corporate tax rate of 12% on its “Preferred Technological Income” (earned from enterprises located in Development outside of Zone A) in the case of a “preferred technology enterprise”, or 6% on its “preferred technology income” (earned from enterprises located in Development Zone A or outside it) in the case of a “special preferred technology enterprise”. Additionally, any “technology income”, as this term is defined by the Law, not classified as “preferred technology income” is subject to the corporate tax rate.

Furthermore, according to the provisions regarding “preferred technology enterprise” and “special preferred technology enterprise” in the Law and the regulations thereunder, and to the extent the income is attributable to manufacturing, this income is classified as “preferred income” and is taxed at 7.5% or 16% according to the development zone. To the extent the income is from an intangible asset used for marketing, it is subject to the normal corporate tax rate.

Additionally, when income of a company originating from “preferred technology income” is distributed as dividend to a foreign-resident corporation, tax withholding from the dividend is 4%, provided that 90% or more of that company’s shares are directly held by one or more foreign corporations, and the profits resulted after they acquired the shares.

Carry forward tax losses

As of December 31, 2024, the Company had a net carry forward tax loss of approximately $60 million, of which approximately $35 million (arising before January 1, 2018), expires until 2038, and approximately $25 million, which does not expire, but is limited to offset 80% of the net income in the year it is utilized.

Under the U.S. tax laws, for net operating losses (NOLs) arising after December 31, 2017, the Tax Cuts and Jobs Act enacted on December 22, 2017 (the “2017 Act”) limits a taxpayer’s ability to utilize NOL carryforwards to 80% of taxable income.

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

In addition, NOLs arising after 2017 can be carried forward indefinitely, but carryback is generally prohibited. NOLs generated in tax years beginning before January 1, 2018, will not be subject to the foregoing taxable income limitation and will continue to have a two-year carryback and twenty-year carryforward period.

As of December 31, 2024 and 2023, InspireMD Ltd., an Israeli subsidiary, had a net carry forward tax loss of approximately $126 and $107 million. Under Israeli tax laws, the carry forward tax losses can be utilized indefinitely.

The Israeli subsidiary is taxed in New Israeli Shekel (“NIS”), which is different from its functional currency (U.S. Dollar). The change in the Israeli subsidiary NOL’s for tax purposes partly resulted by such rate differences.

Loss before income taxes

The components of loss before income taxes are as follows:

	Year ended December 31
	2024			2023
	($ in thousands)
Loss before taxes on income:
InspireMD, Inc.	$	(10,385	)	$	(5,772	)
Subsidiaries		(21,561	)		(14,079	)
	$	(31,946	)	$	(19,851	)

NOTE 11 - TAXES ON INCOME (continued):

Current taxes on income

The main reconciling item between the statutory tax rate of the Company and its subsidiaries and the effective tax rate is the change in valuation allowance in respect of tax benefits from carried forward tax losses due to uncertainty of the realization of such tax benefits.

The changes in the valuation allowance for the years ended December 31, 2024 and 2023 were as follows:

	Year ended December 31
	2024		2023
	($ in thousands)
Balance at the beginning of the year	$	42,651	$	40,071
Changes during the year:
Losses during the year (including foreign exchange rate effect)		5,779		2,580
Balance at the end of the year	$	48,430	$	42,651

INSPIREMD, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

Accounting for Uncertain Tax positions

The following is a reconciliation of the total amounts of the Company’s uncertain tax positions during the years ended December 31, 2024 and 2023:

	Year ended December 31,
	2024		2023
	($ in thousands)
Balance at beginning of the year	$	168	$	106
Additions related to uncertain tax positions taken this year		57		62
Balance at end of the year	$	225	$	168

A summary of open tax years by major jurisdiction is presented below:

Jurisdiction			Years
U.S.			2021-2024
Israel			2020-2024
Germany			2021-2024

NOTE 11 - TAXES ON INCOME (continued):

Deferred income tax:

SCHEDULE OF DEFERRED INCOME TAX


	December 31,
	2024			2023
	($ in thousands)

Provision for vacation and recreation pay		82			68
R&D expenses		2,204			1,691
Operating lease right of use assets		(525	)		(339	)
Operating lease liabilities		554			367
Share-based compensation		4,489			3,492
Marketable securities		(100	)		-
Carry forward tax losses		41,699			37,342
Accrued severance pay, net		27			30
Deferred tax assets noncurrent		48,430			42,651
Less-valuation allowance		(48,430	)		(42,651	)
Deferred tax assets		-			-

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

SCHEDULE OF WEIGHTED AVERAGE NUMBER OF SHARES

For the years ended December 31, 2024 and 2023 the weighted average number of ordinary shares used in computing net loss per share - basic and diluted was as follows:

	2024		2023
	2024		2023

Weighted average number of ordinary shares		20,501,816		14,606,248
Weighted average Vested restricted stock units		306,731		23,335
Weighted average Pre-funded Warrants		21,119,813		9,638,598
Total Weighted average number of ordinary shares used in computing net loss per share - basic and diluted		41,928,360		24,268,181

SCHEDULE OF RECONCILIATION OF UNCERTAIN TAX POSITIONS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Uncertain tax positions balance at beginning of period	$ 168	$ 106
Increase in uncertain tax positions because of tax positions taken during the year	57	62
Uncertain tax positions balance at end of period	$ 225	$ 168

COMMITMENTS AND CONTINGENT LIABILITIES (Details Narrative) - USD ($)	Feb. 03, 2021	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Distribution cost rate	50.00%	50.00%
Distribution reimbursement	$ 1,000,000

SCHEDULE OF CHANGES IN VALUATION ALLOWANCE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Balance at the beginning of the year	$ 42,651	$ 40,071
Changes during the year: Losses during the year (including foreign exchange rate effect)	5,779	2,580
Balance at the end of the year	$ 48,430	$ 42,651

SCHEDULE OF COMPONENTS OF LOSS BEFORE INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Loss before taxes on income	$ (31,946)	$ (19,851)
Parent Company [Member]
Loss before taxes on income	(10,385)	(5,772)
Subsidiaries [Member]
Loss before taxes on income	$ (21,561)	$ (14,079)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO LEASES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease right-of-use assets	$ 2,360	$ 1,473
Current Operating lease liabilities	$ (542)	$ (557)
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Liabilities, Current	Liabilities, Current
Non-current operating lease liabilities	$ (1,796)	$ (1,038)
Operating cash flows from operating leases (cash paid in thousands)	$ (745)	$ (429)
Weighted average remaining lease	3 years 11 months 4 days	3 years
Weighted average discount rate	11.82%	9.73%

SCHEDULE OF FINANCIAL ASSETS SUBJECT TO FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 15,277	$ 28,727
Fair Value, Recurring [Member] \| US Government Agencies Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	15,721	29,383
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member] \| US Government Agencies Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member] \| US Government Agencies Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	15,721	29,383
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member] \| US Government Agencies Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities
Fair Value, Recurring [Member] \| Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	6,281	7,094
Fair Value, Recurring [Member] \| Money Market Funds [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	6,281	7,094
Fair Value, Recurring [Member] \| Money Market Funds [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents
Fair Value, Recurring [Member] \| Money Market Funds [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents

SEGMENT INFORMATION (Details Narrative)	12 Months Ended
SEGMENT INFORMATION (Details Narrative)	Dec. 31, 2024 segment
Segment Reporting [Abstract]
Number of Reportable Segments	1

EQUITY (Details Narrative) - USD ($)

12 Months Ended

May 31, 2024

May 28, 2024

Jan. 01, 2024

May 12, 2023

Dec. 31, 2024

Dec. 31, 2023

May 16, 2023

Subsidiary, Sale of Stock [Line Items]

Number of stock issued

11,854

Warrants to purchase common stock

40,268,464

Warrants exercised

200,000

307,271

Preferred stock stated value

^[1]

Total gross proceeds

$ 1,000,000

Vesting period

3 years

Employee [Member]

Subsidiary, Sale of Stock [Line Items]

Stock option exercise price

$ 3.07

$ 1.89

Director [Member]

Subsidiary, Sale of Stock [Line Items]

Vesting period

1 year

Restricted Stock [Member]

Subsidiary, Sale of Stock [Line Items]

Weighted average of the remaining contractual life of vested and exercisable options

7 years 8 months 23 days

Aggregate intrinsic value of exercisable options

$ 494,250

Restricted Stock [Member] | Consultant [Member]

Subsidiary, Sale of Stock [Line Items]

Restricted stock exercise price

$ 2.94

1.95

Share-Based Payment Arrangement, Option [Member] | Employee [Member]

Subsidiary, Sale of Stock [Line Items]

Stock option exercise price

2.54

1.65

Share-Based Payment Arrangement, Option [Member] | Consultant [Member]

Subsidiary, Sale of Stock [Line Items]

Stock option exercise price

1.87

1.50

Restricted Stock Units (RSUs) [Member] | Consultant [Member]

Subsidiary, Sale of Stock [Line Items]

Restricted stock exercise price

$ 3.14

$ 1.76

Employee And Non Employee Stock Option [Member]

Subsidiary, Sale of Stock [Line Items]

Unvested stock-based compensation

$ 7,290,000

Unvested stock-based compensation weighted-average period for recognition

10 months 6 days

Two Thousand And Twenty One Equity Incentive Plan [Member]

Subsidiary, Sale of Stock [Line Items]

Shares available for future issuance

9,237,869

Two Thousand And Twenty Four Inducement Plan [Member]

Subsidiary, Sale of Stock [Line Items]

Shares available for future issuance

1,957,763

Series C Preferred Stock [Member]

Subsidiary, Sale of Stock [Line Items]

Preferred stock conversion price

$ 1.3827

Preferred stock convertible shares issuable

5,668

7,952

Preferred stock outstanding

1,718

Preferred stock stated value

$ 10,997,000

Series H Warrant [Member]

Subsidiary, Sale of Stock [Line Items]

Warrants to purchase common stock

292,996

Warrants exercise

$ 16,900,000

Warrants exercise price

$ 1.3827

Warrant term

5 years

Placement agent fees

$ 1,000,000

Pre-Funded Warrants [Member]

Subsidiary, Sale of Stock [Line Items]

Warrants exercise price

$ 1.3826

$ 0.0001

Warrants exercised

1,728,390

307,271

Class of Warrant or Right, Outstanding

26,147,323

15,254,623

Exercise of warrant

12,621,090

Warrant [Member]

Subsidiary, Sale of Stock [Line Items]

Warrants exercise price

$ 1.3827

Common Stock [Member]

Subsidiary, Sale of Stock [Line Items]

Number of stock issued

10,266,270

Warrants exercised

1,728,382

307,260

Class of Warrant or Right, Outstanding

199,992

307,260

Equity Distribution Agreement [Member] | ATM Offering [Member]

Subsidiary, Sale of Stock [Line Items]

Aggregate offering price

$ 17,000,000.0

Commission percentage

3.00%

Common stock, shares sold

647,277

Total gross proceeds

$ 1,598,000

Issuance fees

$ 81,000

Private Placement [Member]

Subsidiary, Sale of Stock [Line Items]

Number of stock issued

10,266,270

Proceed from private placement

$ 42,200,000

Fees payable and other offering expenses

4,600,000

Warrants exercise

$ 71,400,000

Private Placement [Member] | Pre-Funded Warrants [Member]

Subsidiary, Sale of Stock [Line Items]

Warrants to purchase common stock

15,561,894

Offering price per share

$ 1.6326

Private Placement [Member] | Warrant [Member]

Subsidiary, Sale of Stock [Line Items]

Warrants to purchase common stock

51,656,328

Offering price per share

$ 1.6327

Private Placement [Member] | Series H Warrants [Member]

Subsidiary, Sale of Stock [Line Items]

Warrants to purchase common stock

12,914,086

Private Placement [Member] | Series I Warrants [Member]

Subsidiary, Sale of Stock [Line Items]

Warrants to purchase common stock

12,914,078

Private Placement [Member] | Series J Warrants [Member]

Subsidiary, Sale of Stock [Line Items]

Warrants to purchase common stock

12,914,086

Private Placement [Member] | Series K Warrants [Member]

Subsidiary, Sale of Stock [Line Items]

Warrants to purchase common stock

12,914,078

At The Market Offering [Member] | Warrant [Member]

Subsidiary, Sale of Stock [Line Items]

Warrants to purchase common stock

40,268,464

[1]	Represents an amount less than $1

SCHEDULE OF STOCK OPTIONS GRANTED (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Employee [Member]
Number of options Outstanding - beginning of period	1,379,696	294,712
Weighted average exercise price Outstanding - beginning of period	$ 2.58	$ 5.21
Number of options Outstanding, Granted	777,761	1,097,250
Weighted average exercise price, Granted	$ 3.07	$ 1.89
Number of options Outstanding, Forfeited	(3,314)	(12,266)
Weighted average exercise price, Forfeited	$ 3.54	$ 4.00
Number of options Outstanding, Outstanding -end of period	2,154,143	1,379,696
Weighted average exercise price, Outstanding -end of period	$ 2.76	$ 2.58
Number of options Outstanding, Exercisable at the end of the period	644,882	215,709
Weighted average exercise price, Exercisable at the end of the period	$ 3.36	$ 5.38
Non Employee [Member]
Number of options Outstanding - beginning of period	791,669	166,669
Weighted average exercise price Outstanding - beginning of period	$ 2.06	$ 3.37
Number of options Outstanding, Granted	125,000	625,000
Weighted average exercise price, Granted	$ 2.37	$ 1.71
Number of options Outstanding, Outstanding -end of period	916,669	791,669
Weighted average exercise price, Outstanding -end of period	$ 2.10	$ 2.06
Number of options Outstanding, Exercisable at the end of the period	387,333	84,667
Weighted average exercise price, Exercisable at the end of the period	$ 2.37	$ 3.42

SCHEDULE OF ADDITIONAL INFORMATION ABOUT ALL OPTIONS OUTSTANDING AND EXERCISABLE (Details)	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding	3,070,846
Weighted average remaining contractual life (years)	8 years 4 months 6 days
Options exercisable	1,032,215
Exercise Price One [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price lower range \| $ / shares	$ 1.15
Exercise price upper range \| $ / shares	$ 3.14
Options outstanding	2,686,358
Weighted average remaining contractual life (years)	8 years 6 months 21 days
Options exercisable	704,641
Exercise Price Two [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price lower range \| $ / shares	$ 3.30
Exercise price upper range \| $ / shares	$ 4.12
Options outstanding	227,932
Weighted average remaining contractual life (years)	7 years 6 months 10 days
Options exercisable	171,052
Exercise Price Three [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price lower range \| $ / shares	$ 4.95
Exercise price upper range \| $ / shares	$ 10.05
Options outstanding	152,469
Weighted average remaining contractual life (years)	6 years
Options exercisable	152,469
Exercise Price Four [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price upper range \| $ / shares	$ 16.50
Options outstanding	4,087,000
Weighted average remaining contractual life (years)	5 years 3 days
Options exercisable	4,053

LIABILITY FOR EMPLOYEE RIGHTS UPON RETIREMENT AND OTHERS (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Percentage of monthly deposits on salary	8.33%
Severance Type One [Member]
Restructuring Cost and Reserve [Line Items]
Severance expenses	$ 293,000	$ 256,000
Israeli Employees [Member]
Restructuring Cost and Reserve [Line Items]
Severance expenses	1,224,000	1,084,000
Severance Type Two [Member]
Restructuring Cost and Reserve [Line Items]
Severance expenses	$ 124,000	$ 116,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

SUBSEQUENT EVENTS: (Details Narrative) - $ / shares		12 Months Ended
SUBSEQUENT EVENTS: (Details Narrative) - $ / shares	Jan. 01, 2025	Dec. 31, 2024
Subsequent Event [Line Items]
Vesting period		3 years
Director [Member]
Subsequent Event [Line Items]
Vesting period		1 year
Restricted Stock [Member] \| Employees and Directors [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Stock granted	2,253,445
Vesting period	3 years
Restricted Stock [Member] \| Director [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Vesting period	1 year
Restricted Stock Units (RSUs) [Member] \| Chief Executive Officer [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Stock granted	558,417
Vesting period	3 years
Share-Based Payment Arrangement, Option [Member] \| Employees and Directors [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Share based compensation arrangement by share based payment award options grants in period	848,204
Stock option exercise price	$ 2.76
Share-Based Payment Arrangement, Option [Member] \| Director [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Vesting period	1 year
Share-Based Payment Arrangement, Option [Member] \| Chief Executive Officer [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Vesting period	3 years

MARKETABLE SECURITIES (Tables)

12 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

SCHEDULE OF MARKETABLE SECURITIES

The following table sets forth the Company’s marketable securities for the indicated period:

	2024		2023
	December 31,
	2024		2023
	($ in thousands)
U.S. government bonds	$	15,721	$	29,383
Marketable securities	$	15,721	$	29,383

SCHEDULE OF FAIR VALUE OF MARKETABLE SECURITIES CLASSIFIED BY MATURITY

The following table summarizes the fair value of the Company’s marketable securities classified by maturity as of December 31, 2024 and 2023:

	2024		2023
	December 31,
	2024		2023
	($ in thousands)
Amounts maturing within one year	$	15,721	$	24,523
Amounts maturing after one year through two years		-		4,860
Marketable securities	$	15,721	$	29,383

SCHEDULE OF CHANGES IN FAIR VALUE OF MARKETABLE SECURITIES

The table below sets forth a summary of the changes in the fair value of the Company’s marketable securities for the years ended December 31, 2024 and 2023:

	2024			2023
	2024			2023
	($ in thousands)

Balance at beginning of the year	$	29,383		-
Additions		14,444		34,644
Maturity		(29,000	)	(6,000	)
Interest received		(299	)	(38	)
Changes in fair value during the year		1,193		777
Balance at end of the period		15,721		29,383

SCHEDULE OF ALLOCATION OF TOTAL SHARE-BASED COMPENSATION EXPENSE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Total share-based compensation expense	$ 10,138	$ 4,490
Cost of Sales [Member]
Total share-based compensation expense	256	93
Research and Development Expense [Member]
Total share-based compensation expense	2,412	649
Selling and Marketing Expense [Member]
Total share-based compensation expense	1,025	416
General and Administrative Expense [Member]
Total share-based compensation expense	$ 6,445	$ 3,332

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (32,005)	$ (19,916)
Adjustments required to reconcile net loss to net cash used in operating activities:
Depreciation	280	232
Gain from sale of property, plant and equipment		(6)
Change in fair value of markable securities, net of interest received	(894)	(739)
Change in liability for employees rights upon retirement	163	89
Other financial expense (income)	(51)	58
Change in operating right of use asset and operating leasing liability	(144)	62
Share-based compensation expenses	10,138	4,490
Decrease in interest receivable on short term deposits		171
Gain on amounts funded in respect of employee rights upon retirement, net	(91)	(16)
Changes in operating asset and liability items:
Decrease (increase) in prepaid expenses	(482)	77
Decrease (increase) in trade receivables	232	(770)
Increase in other receivables	(34)	(435)
Increase in inventory	(464)	(485)
Increase in trade payables	315	280
Increase in other payables	1,169	532
Net cash used in operating activities	(21,868)	(16,376)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment	(1,402)	(381)
Proceeds from sale of property, plant and equipment		12
Investment in long-term deposit	(426)
Investment in short-term bank deposits		(5,500)
Investments in marketable securities	(14,444)	(34,644)
Proceeds from matured marketable securities	29,000	6,000
Amounts funded in respect of employee rights upon retirement	(87)	(79)
Withdrawal from short-term bank deposits		18,500
Net cash provided by (used in) investing activities	12,641	(16,092)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of warrants, net of $1,000 issuance costs	16,854
Proceeds from issuance of shares and warrants, net of $81 and $4,635 issuance costs, respectively	1,598	37,534
Net cash provided by (used in) financing activities	18,452	37,534
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	51	(58)
INCREASE IN CASH AND CASH EQUIVALENTS	9,276	5,008
BALANCE OF CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	9,640	4,632
BALANCE OF CASH AND CASH EQUIVALENTS AT END OF YEAR	18,916	9,640
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES:
Acquisition of right-of-use assets by means of lease liabilities	1,344	419
Non-cash lease incentive		45
Decrease in right-of-use assets and lease liabilities due to shortening lease term		131
Non-cash purchase of property and equipment	$ 189

SCHEDULE OF MATURITIES OF LEASE LIABILITIES (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2025	$ 571
2026	853
2027	922
2028	217
2029 onwards	376
Total lease payments	2,939
Less imputed interest	(601)
Total	$ 2,338