D 
5,774.00
-2.65%
Close of 6 Nov 2026, in ILA
At a glance
Figures in ILS, from our data supplier.
Revenue
ILS 503.1m
FY2017FY2025
Net income
−ILS 390.6m
FY2017FY2025
Free cash flow
−ILS 91.0m
FY2017FY2025
Shareholders' equity
ILS 1.99bn
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | ILS 503.1m | ILS 310.1m | ILS 78.7m | ILS 47.0m | ILS 125.1m | ILS 59.2m | ILS 8.2m | ILS 13.1m | ILS 10.3m |
| Research and development | ILS 2.8m | ILS 476,000 | ILS 2.5m | ILS 3.0m | ILS 2.5m | — | — | — | — |
| Operating income | −ILS 95.7m | −ILS 86.8m | −ILS 71.4m | −ILS 5.6m | −ILS 15.2m | ILS 1.4m | −ILS 1.6m | ILS 3.5m | ILS 4.3m |
| Net income | −ILS 390.6m | ILS 20.0m | −ILS 41.1m | ILS 1.09bn | −ILS 20.1m | ILS 11.6m | −ILS 1.3m | ILS 1.9m | ILS 2.9m |
| Diluted earnings per share | -2.13 | 0.11 | -0.23 | 6.02 | -0.14 | 0.10 | -0.01 | 0.01 | 0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | ILS 7.05bn | ILS 5.85bn | ILS 4.53bn | ILS 3.34bn | ILS 1.66bn | ILS 628.9m | ILS 234.6m | ILS 72.9m | — |
| Cash and short-term investments | ILS 1.13bn | ILS 492.8m | ILS 569.9m | ILS 549.8m | ILS 741.7m | ILS 260.9m | ILS 31.4m | ILS 16.1m | — |
| Total liabilities | ILS 5.07bn | ILS 3.83bn | ILS 2.51bn | ILS 1.38bn | ILS 944.1m | ILS 225.7m | ILS 181.7m | ILS 29.7m | — |
| Debt | ILS 4.75bn | ILS 3.53bn | ILS 2.09bn | ILS 1.04bn | ILS 826.7m | ILS 189.0m | ILS 157.3m | ILS 19.7m | — |
| Shareholders' equity | ILS 1.99bn | ILS 1.98bn | ILS 1.98bn | ILS 1.96bn | ILS 499.5m | ILS 405.5m | ILS 52.9m | ILS 40.5m | — |
| Shares outstanding | 183m | 178m | 179m | 181m | 145m | 118m | 99m | 207m | 207m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −ILS 82.9m | −ILS 65.3m | −ILS 31.0m | −ILS 77.0m | −ILS 41.3m | −ILS 1.5m | −ILS 8.7m | ILS 9.3m | −ILS 642,000 |
| Capital spending | −ILS 8.1m | −ILS 807.8m | −ILS 542.0m | −ILS 365.7m | −ILS 259.1m | −ILS 34.7m | −ILS 106,000 | −ILS 142,000 | −ILS 34,000 |
| Free cash flow | −ILS 91.0m | −ILS 873.1m | −ILS 573.0m | −ILS 442.7m | −ILS 300.4m | −ILS 36.2m | −ILS 8.8m | ILS 9.1m | −ILS 676,000 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ILS 183.7m | ILS 140.0m | ILS 124.8m | ILS 164.9m | ILS 118.2m | ILS 95.3m | ILS 76.8m | ILS 109.1m |
| Operating income | −ILS 37.1m | −ILS 84.6m | −ILS 49.3m | ILS 678,000 | −ILS 16.7m | −ILS 30.4m | −ILS 44.9m | −ILS 29.3m |
| Net income | ILS 26.9m | −ILS 84.2m | −ILS 109.0m | −ILS 64.3m | −ILS 126.9m | −ILS 90.4m | −ILS 66.5m | ILS 119.9m |
| Diluted earnings per share | 0.13 | -0.41 | -0.60 | -0.35 | -0.69 | -0.49 | -0.37 | 0.67 |
| Cash from operations | −ILS 81.0m | −ILS 43.0m | −ILS 55.0m | ILS 17.0m | −ILS 23.0m | −ILS 20.0m | −ILS 24.0m | −ILS 7.0m |
| Capital spending | −ILS 3.0m | −ILS 149.0m | −ILS 7.0m | −ILS 134.0m | −ILS 138.0m | −ILS 159.0m | −ILS 181.0m | −ILS 277.0m |
| Free cash flow | −ILS 84.0m | −ILS 192.0m | −ILS 62.0m | −ILS 117.0m | −ILS 161.0m | −ILS 179.0m | −ILS 205.0m | −ILS 284.0m |
| Total assets | ILS 11.25bn | ILS 7.61bn | ILS 7.05bn | ILS 6.45bn | ILS 6.22bn | ILS 6.15bn | ILS 5.85bn | ILS 5.80bn |
| Cash and short-term investments | ILS 1.80bn | ILS 1.54bn | ILS 1.13bn | ILS 632.1m | ILS 670.0m | ILS 597.4m | ILS 492.8m | ILS 577.4m |
| Debt | ILS 6.57bn | ILS 5.00bn | ILS 4.52bn | ILS 4.32bn | ILS 3.99bn | ILS 3.68bn | ILS 3.34bn | ILS 3.23bn |
| Shareholders' equity | ILS 2.85bn | ILS 2.08bn | ILS 1.99bn | ILS 1.58bn | ILS 1.67bn | ILS 1.94bn | ILS 1.98bn | ILS 2.11bn |
Financial ratios
Data as of 2 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -19.0% | -28.0% | -90.8% | -11.9% | -12.1% | 2.3% |
| Net margin | -77.6% | 6.5% | -52.3% | 2312.2% | -16.1% | 19.6% |
| Return on equity | -19.6% | 1.0% | -2.1% | 55.5% | -4.0% | 2.9% |
| Return on assets | -5.5% | 0.3% | -0.9% | 32.5% | -1.2% | 1.8% |
| Free cash flow yield | -0.0% | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% |
| Revenue growth | 62.2% | 294.2% | 67.4% | -62.4% | 111.1% | 619.9% |
| Earnings growth | -2051.6% | -148.6% | -103.8% | -5501.9% | -273.3% | -966.9% |
| Current ratio | 1.99x | 0.76x | 1.12x | 2.90x | 7.49x | 10.46x |
| Debt to equity | 2.27x | 1.68x | 1.02x | 0.52x | 1.64x | 0.46x |
| Equity ratio | 28.3% | 33.9% | 43.8% | 58.6% | 30.1% | 64.5% |
| Interest coverage | -0.39x | -0.62x | -1.14x | -0.10x | -0.79x | 0.20x |
| R&D as a share of sales | 0.6% | 0.2% | 3.1% | 6.4% | 2.0% | — |
| Buybacks as a share of market value | -2.8% | 0.5% | 0.8% | -24.8% | -22.2% | -19.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 120.4% | 53.4% | — |
| Operating income | 157.6% | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -17.2 | 113.6 | -36.2 | 1.4 | -98.9 | 155.2 |
| Price to sales | 13.3 | 7.3 | 18.9 | 32.0 | 15.9 | 30.4 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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