S 
7,310.00
+7.50%
Close of 6 Nov 2026, in ILA
At a glance
Figures in ILS, from our data supplier.
Revenue
ILS 129.0m
FY2017FY2025
Net income
ILS 5.3m
FY2017FY2025
Free cash flow
−ILS 243.6m
FY2017FY2025
Shareholders' equity
ILS 394.3m
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | ILS 129.0m | ILS 105.7m | ILS 47.7m | ILS 38.7m | ILS 13.7m | ILS 10.3m | ILS 14.1m | ILS 7.3m | ILS 3.1m |
| Research and development | ILS 2.1m | ILS 380,000 | ILS 1.8m | ILS 3.8m | ILS 5.6m | ILS 968,000 | ILS 633,000 | ILS 1.5m | ILS 1.1m |
| Operating income | ILS 8.0m | −ILS 50.3m | ILS 12.5m | ILS 5.4m | −ILS 20.9m | ILS 37.0m | −ILS 4.3m | −ILS 8.5m | −ILS 4.8m |
| Net income | ILS 5.3m | −ILS 52.4m | −ILS 7.5m | −ILS 28.8m | −ILS 25.7m | ILS 17.9m | −ILS 7.3m | −ILS 9.0m | −ILS 6.6m |
| Diluted earnings per share | 0.26 | -3.19 | -0.54 | -2.09 | -1.97 | 1.79 | -0.37 | -0.45 | -0.33 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | ILS 1.70bn | ILS 1.52bn | ILS 1.27bn | ILS 1.03bn | ILS 781.0m | ILS 462.4m | ILS 80.1m | ILS 40.3m | — |
| Cash and short-term investments | ILS 215.6m | ILS 61.9m | ILS 152.6m | ILS 69.6m | ILS 48.5m | ILS 23.3m | ILS 1.7m | ILS 2.1m | — |
| Total liabilities | ILS 1.30bn | ILS 1.28bn | ILS 1.01bn | ILS 849.5m | ILS 581.3m | ILS 405.0m | ILS 84.3m | ILS 30.1m | — |
| Debt | ILS 934.6m | ILS 992.5m | ILS 934.1m | ILS 786.5m | ILS 509.4m | ILS 315.7m | ILS 74.4m | ILS 24.1m | — |
| Shareholders' equity | ILS 394.3m | ILS 222.0m | ILS 250.5m | ILS 159.0m | ILS 164.9m | ILS 11.9m | −ILS 4.7m | ILS 10.2m | — |
| Shares outstanding | 20m | 16m | 14m | 14m | 13m | 10m | 20m | 20m | 20m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −ILS 80.6m | ILS 8.0m | −ILS 3.3m | −ILS 11.4m | −ILS 23.1m | −ILS 36.1m | −ILS 16.4m | −ILS 13.8m | −ILS 7.3m |
| Capital spending | −ILS 163.0m | −ILS 125.9m | −ILS 75.1m | −ILS 158.7m | −ILS 273.8m | −ILS 86.7m | −ILS 13.2m | −ILS 6.2m | −ILS 3.9m |
| Free cash flow | −ILS 243.6m | −ILS 117.9m | −ILS 78.4m | −ILS 170.1m | −ILS 296.9m | −ILS 122.8m | −ILS 29.6m | −ILS 20.0m | −ILS 11.2m |
| Dividends paid | — | −ILS 13,000 | −ILS 88,000 | — | — | — | — | — | −ILS 4.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ILS 11.8m | ILS 8.2m | ILS 62.1m | ILS 28.1m | ILS 20.8m | ILS 18.1m | ILS 43.5m | ILS 30.1m |
| Operating income | −ILS 7.6m | −ILS 4.5m | ILS 12.8m | ILS 681,000 | ILS 1.1m | −ILS 5.9m | −ILS 49.1m | ILS 636,000 |
| Net income | −ILS 63.3m | −ILS 25.6m | −ILS 3.9m | −ILS 9.9m | −ILS 11.0m | ILS 31.1m | −ILS 62.5m | ILS 11.3m |
| Diluted earnings per share | -3.15 | -1.28 | -0.19 | -0.49 | -0.55 | 1.55 | -3.81 | 0.69 |
| Cash from operations | −ILS 48.0m | −ILS 32.0m | −ILS 15.0m | ILS 12.0m | −ILS 30.0m | −ILS 46.0m | ILS 13.0m | ILS 10.0m |
| Capital spending | −ILS 62.0m | −ILS 125.0m | −ILS 93.0m | −ILS 34.0m | −ILS 15.0m | −ILS 19.0m | −ILS 26.0m | −ILS 57.0m |
| Free cash flow | −ILS 110.0m | −ILS 157.0m | −ILS 108.0m | −ILS 22.0m | −ILS 45.0m | −ILS 65.0m | −ILS 13.0m | −ILS 47.0m |
| Total assets | ILS 2.01bn | ILS 1.89bn | ILS 1.70bn | ILS 1.77bn | ILS 1.70bn | ILS 1.71bn | ILS 1.52bn | ILS 1.59bn |
| Cash and short-term investments | ILS 246.2m | ILS 153.7m | ILS 215.6m | ILS 84.5m | ILS 44.0m | ILS 112.3m | ILS 61.9m | ILS 124.3m |
| Debt | ILS 1.17bn | ILS 1.07bn | ILS 855.1m | ILS 871.8m | ILS 849.3m | ILS 845.8m | ILS 869.1m | ILS 1.00bn |
| Shareholders' equity | ILS 499.5m | ILS 378.1m | ILS 394.3m | ILS 238.9m | ILS 246.3m | ILS 256.4m | ILS 222.0m | ILS 301.3m |
Financial ratios
Data as of 3 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 6.2% | -47.6% | 33.8% | 14.1% | -152.4% | 360.7% |
| Net margin | 4.1% | -49.6% | -15.6% | -74.5% | -187.0% | 173.4% |
| Return on equity | 1.3% | -23.6% | -3.0% | -18.1% | -15.6% | 149.9% |
| Return on assets | 0.3% | -3.4% | -0.6% | -2.8% | -3.3% | 3.9% |
| Free cash flow yield | 0.1% | 0.1% | 0.1% | 0.2% | 0.3% | 0.1% |
| Revenue growth | 22.0% | 121.8% | 23.2% | 181.6% | 33.1% | -26.6% |
| Earnings growth | -110.1% | 603.6% | -74.1% | 12.1% | -243.6% | -344.4% |
| Current ratio | 1.46x | 0.81x | 2.80x | 1.71x | 0.61x | 1.18x |
| Debt to equity | 2.15x | 3.91x | 3.20x | 4.13x | 2.54x | 21.62x |
| Equity ratio | 23.2% | 14.6% | 19.7% | 15.4% | 21.1% | 2.6% |
| Interest coverage | 0.32x | -2.22x | 0.57x | 0.21x | -1.21x | 2.58x |
| R&D as a share of sales | 1.6% | 0.4% | 3.7% | 9.7% | 40.5% | 9.4% |
| Buybacks as a share of market value | -22.4% | -18.8% | -0.0% | -6.1% | -30.2% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 49.4% | 65.7% | — |
| Operating income | 13.7% | -26.4% | — |
| Net income | — | -21.5% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 220.7 | -11.3 | -60.6 | -15.3 | -17.6 |
| Price to sales | 9.1 | 5.6 | 9.5 | 11.4 | 32.9 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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