Company: BNRG
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0001213900-25-020178
Chunk: 67

Company: Brenmiller Energy Ltd.
Filing Date: 2025-03-04
Form: 20-F
Item: Item 4A
Chunk 67
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 $207 thousand and interest income of $215 thousand offset by warrants issuance
costs of $473 thousand and interest expenses of $244 thousand.

Our net financial income in
the year ended December 31, 2023, was primarily attributable to interest income of $161 thousand and income from exchange rate differences
of $142 thousand offset by interest expenses of $100 thousand.

Net Loss

Net loss for the year ended
December 31, 2024 decreased by 30% to $6,772 thousand, compared to $9,648 thousand for the year ended December 31, 2023. This decrease
was primarily attributable to the increase in the net financial income, offset by the increase in operating loss, as described above.

B. Liquidity and Capital Resources.

Overview

Since our inception through
December 31, 2024, we have funded our operations principally from receipt of approximately $119 million in proceeds mainly from the issuance
of securities, a loan from the EIB and governmental grants. As of December 31, 2024, we had $4,130 thousand in cash and cash equivalents
and restricted deposits, compared to $3,217 thousand as of December 31, 2023.

The table below presents our
cash flows for the periods indicated.

                                                                                    Year Ended December 31,                                    
  Dollars in thousands                                                              2024                                     2023              
  Cash used in operating activities                                                 $                            (9,507      $         (6,922  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Cash used in investing activities                                                                                (422                (2,609  
  Cash provided by financing activities                                                                          10,939                 6,362  
  Net increase (decrease) in cash and cash equivalents and restricted deposits      $                             1,010      $         (3,169  

Operating Activities

Since our incorporation, we
have had ongoing losses and incurred negative cash flows from operating activities. For example, in the year ended December 31, 2024,
we had operating losses of $10,562 thousand. We have mainly financed our activities in the year ended December 31, 2024 through the issuance
of our Ordinary Shares and warrants and receipt of governmental grants. Management plans to continue to commercialize our products and
services and secure sufficient financing through additional equity or debt financing. There are no assurances however, that we will be
successful in obtaining the level of financing