Company: BNRG
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0001213900-25-020178
Chunk: 68

Company: Brenmiller Energy Ltd.
Filing Date: 2025-03-04
Form: 20-F
Item: Item 4A
Chunk 68
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 needed for our operations or that such financing will be available on terms acceptable
to us.

Cash flows from operating
activities consist primarily of loss adjusted for various non-cash items, including depreciation, fair value adjustment of warrants’
liability, warrants issuance costs, share-based compensation expenses, loss from the write off the remaining asset from the closure of
the Rotem 1 project and non-cash interest and exchange rate differences, net. In addition, cash flows from operating activities are impacted
by changes in operating assets and liabilities, which include inventory, prepaid expenses, accounts receivable, trade payables and other
assets and accounts payable.

Net cash used in operating
activities for the year ended December 31, 2024 was $9,507 thousand. This net cash used in operating activities primarily reflects a net
loss of $6,772 thousand, and a non-cash adjustment of $1,887 thousand, a decrease of $141 thousand in prepaid expenses and receivables,
an increase in other payables and deferred revenue of $178 thousand, offset by an increase of $961 thousand in inventory and a decrease
in trade payables of $206 thousand. Net non-cash adjustment of $1,887 thousand consisted primarily of fair value adjustment of warrant
liability of $4,109 thousand, warrants issuance costs of $473 thousand, loss from the write off the remaining asset from the closure of
the Rotem 1 project and other adjustments of $237 thousand, a share-based compensation payment of $1,385 thousand, a depreciation of $228
thousand and non-cash interest and the net exchange rate differences of $101 thousand.

Net cash used in operating
activities for the year ended December 31, 2023, was $6,922 thousand. This net cash used in operating activities primarily reflects a
net loss of $9,648 thousand, net of non-cash expenses of $1,772 thousand, a decrease of $456 thousand in prepaid expenses and receivables,
and $295 thousand in inventory, as well as an increase of $203 thousand in trade and other payables and deferred revenue. Net non-cash
expenses of $1,772 thousand consisted primarily of a share-based compensation payment of $1,781 thousand, a depreciation of $120 thousand,
a gain on the sale of equipment of $35 thousand and the net non-cash interest and exchange rate differences of $94 thousand.

Investing Activities

Net cash used in investing
activities for the