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**UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 20-F

(Mark One)

☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31,2025

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _________ to ____________

OR

☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of event requiring this shell company report ___________________________

Commission file number:001-41316

**Alpha Tau Medical Ltd. **

(Exact name of Registrant as specified in its charter)

Not Applicable

(Translation of Registrant’s name into English)

State of Israel

(Jurisdiction of incorporation or organization)

**Kiryat HaMada St. 5

Jerusalem 9777605, Israel

(Address of principal executive offices)

**Uzi Sofer

Chief Executive Officer

E-mail: IR@alphatau.com

Telephone:+972 (3) 577-4115

Alpha Tau Medical Ltd.

Kiryat HaMada St. 5

Jerusalem 9777605, Israel

(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)

Securities registered or to be registered, pursuant to Section 12(b) of the Act

Title of each classTrading Symbol(s)Name of each exchange on which registered
Ordinary shares, no par valueDRTSNasdaq Stock Market LLC
Warrants to purchase ordinary sharesDRTSWNasdaq Stock Market LLC

Securities registered or to be registered pursuant to Section 12(g) of the Act: None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None

Indicate the number of outstanding shares of each of the issuer’s classes of capital stock or common stock as of the close of the period covered by the annual report. As of December 31, 2025, the registrant had outstanding 88,009,737 ordinary shares, no par value.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes☐ No ☒

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Yes☐ No ☒

Note-Checking the box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 from their obligations under those Sections.

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☒ No☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

☐ Large accelerated filer☒ Accelerated filer☐ Non-accelerated filer☒ Emerging growth company

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

☒ U.S. GAAP☐International Financial Reporting Standards as issued by the International Accounting Standards Board☐ Other

If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.

Item 17☐ Item 18☐

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes☐ No☒

CONTENTS

PRESENTATION OF FINANCIAL AND OTHER INFORMATIONiii
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTSiv
PART I1
Item 1. Identity of Directors, Senior Management and Advisers1
Item 2. Offer Statistics and Expected Timetable1
Item 3. Key Information1
A.[Reserved.]1
B.Capitalization and Indebtedness1
C.Reasons for the Offer and Use of Proceeds1
D.Risk Factors1
Item 4. Information on the Company.60
A.History and Development of the Company60
B.Business Overview60
C.Organizational Structure116
D.Property, Plants and Equipment116
Item 4A. Unresolved Staff Comments116
Item 5. Operating and Financial Review and Prospects117
A.Operating Results121
B.Liquidity and Capital Resources124
C.Research and Development, Patents and Licenses, Etc.129
D.Trend Information129
E.Critical Accounting Estimates129
Item 6. Directors, Senior Management and Employees131
A.Directors and Senior Management and Board of Directors131
B.Compensation134
C.Board Practices143
D.Employees155
E.Share Ownership155
F.Disclosure of a Registrant’s Action to Recover Erroneously Awarded Compensation155
Item 7. Major Shareholders and Related Party Transactions156
A.Major Shareholders156
B.Related Party Transactions158
C.Interests of Experts and Counsel159
Item 8. Financial Information160
A.Consolidated Statements and Other Financial Information160
B.Significant Changes160

i

Item 9. The Offer and Listing160
A.Offer and Listing Details160
B.Plan of Distribution160
C.Markets160
D.Selling Shareholders160
E.Dilution160
F.Expenses of the Issue160
Item 10. Additional Information161
A.Share Capital161
B.Memorandum and Articles of Association161
C.Material Contracts161
D.Exchange Controls161
E.Taxation161
F.Dividends and Paying Agents172
G.Statement by Experts172
H.Documents on Display172
I.Subsidiary Information172
Item 11. Quantitative and Qualitative Disclosures about Market Risk173
Item 12. Description of Securities Other than Equity Securities173
PART II174
Item 13. Defaults, Dividend Arrearages and Delinquencies174
Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds174
Item 15. Controls and Procedures174
Item 16. [Reserved]175
Item 16A. Audit Committee Financial Expert175
Item 16B. Code of Ethics175
Item 16C. Principal Accountant Fees and Services175
Item 16D. Exemptions from the Listing Standards for Audit Committees176
Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers176
Item 16F. Change in Registrant’s Certifying Accountant176
Item 16G. Corporate Governance176
Item 16H. Mine Safety Disclosure177
Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections177
Item 16J. Insider Trading Compliance Policy.177
Item 16K. Cybersecurity177
PART III179
Item 17. Financial Statements179
Item 18. Financial Statements179
Item 19. Exhibits179
SIGNATURES181
INDEXF-1

ii

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.