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FAIR VALUE MEASUREMENTS | 12 Months Ended
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Dec. 31, 2022
Fair Value Disclosures [Abstract] |
FAIR VALUE MEASUREMENTS |
NOTE 4: - | FAIR VALUE MEASUREMENTS
In accordance with ASC No. 820, the Company measures its marketable securities and foreign currency derivative instruments at fair value. Cash equivalents and available for sale marketable securities are classified within Level 1 or Level 2. This is because these assets are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs. This year, the earn-out liability related to the acquisitions of Keepers are classified within Level 3 because these liabilities were based on present value calculations and an external valuation model whose inputs include market interest rates, estimated operational capitalization rates and volatilities. The fair value of the consideration was determined according to discounted cash flow. The Company's financial net assets measured at fair value on a recurring basis, including accrued interest components, consisted of the following types of instruments as of December 31, 2022 and 2021, respectively:
|  | As of December 31, 2022 |
|  | Fair value measurements using input type |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale marketable securities |  | $ | - |  |  | $ | 4,293 |  |  | $ | - |  |  | $ | 4,293 |
Foreign currency derivative contracts |  |  | - |  |  |  | 23 |  |  |  | - |  |  |  | 23 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earn-out liability |  |  | - |  |  |  | - |  |  |  | (656 | ) |  |  | (656 | )
Foreign currency derivative contracts |  |  | - |  |  |  | (901 | ) |  |  | - |  |  |  | (901 | )
Total financial net assets |  | $ | - |  |  | $ | 3,415 |  |  | $ | (656 | ) |  | $ | 2,759 |
|  | As of December 31, 2021(*) |
|  | Fair value measurements using input type |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale marketable securities |  | $ | - |  |  | $ | 11,531 |  |  | $ | - |  |  | $ | 11,531 |
Foreign currency derivative contracts |  |  | - |  |  |  | *980 |  |  |  | - |  |  |  | 980 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency derivative contracts |  |  | - |  |  |  | *(78 | ) |  |  | - |  |  |  | (78 | )
Total financial net assets |  | $ | - |  |  | $ | 12,433 |  |  | $ | - |  |  | $ | 12,433 |
(*) Reclassifed. Fair value measurements using significant unobservable inputs (Level 3):
Balance at January 1, 2022 |  | $ | - |
Earn Out liability – Keepers |  |  | 652 |
Earn Out liability adjustments due to exchange rates |  |  |  |
Adjustment due to change in forecast and time value of earn-out consideration |  |  | 4 |
Balance at December 31, 2022 |  | $ | 656 |

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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