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Segments, Customers and Geographic Information
 12 Months Ended
Dec. 31, 2024
Geographic Areas, Revenues from External Customers [Abstract]  
Segments, Customers and Geographic Information
Note 18 - Segments, Customers and Geographic Information
 
  A.
The Company applies ASC topic 280, "Segment Reporting", ("ASC 280"). The Company operates in one reportable segment (see Note 1 for a brief description of the Company's business).  Reportable segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker (“CODM”). The Company’s CODM is its chief executive officer. The Company’s CODM manages the business and evaluates operating performance based on consolidated net income (loss). The CODM uses consolidated net income to monitor actual operating results to forecasts and prior periods.
 
The following table summarizes the Company’s segment revenue, significant segment expenses, and segment net income (loss):
 
   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
   
$ thousands
    
$ thousands
    
$ thousands
  
                   
Revenues:
    
394,190
      
347,179
      
295,173
  
Cost of revenues
    
257,339
      
227,310
      
202,110
  
Gross profit
    
136,851
      
119,869
      
93,063
  
Less:
                        
Employee related (1)
    
65,111
      
59,729
      
54,930
  
Other segment items (2)
    
33,013
      
38,930
      
49,070
  

Financial and other expenses, net

    
11,474
      
8,468
      
6,306
  
Taxes on income
    
3,190
      
6,522
      
2,446
  
                         
Net income (loss)
    
24,063
      
6,220
      
(19,689
)
 
(1) Employee related includes employee salaries and commissions, payroll taxes, benefits, and outsourced labor costs.
(2) Other segment items include consulting and professional services, depreciation of property and equipment, amortization of intangible assets, share-based compensation expenses, acquisition and integration related charges, marketing expenses, finance and legal expenses, travel expenses, subcontractors costs, software and subscription costs, overhead expenses and restructuring and related charges.
 
  B.
The total revenues are attributed to geographic areas based on the location of the end customer. The following tables present total revenues for the years ended December 31, 2024, 2023 and 2022 and long-lived assets as of December 31, 2024, and 2023:

 

   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
   
$ thousands
    
$ thousands
    
$ thousands
  
                   
Revenues:
                  
                   
North America (*)
    
89,945
      
95,573
      
67,108
  
EMEA (**)
    
64,958
      
62,023
      
62,233
  
Asia-Pacific
    
34,530
      
35,033
      
32,970
  
India
    
167,550
      
107,354
      
80,957
  
Latin America
    
37,207
      
47,196
      
51,905
  
                         
     
394,190
      
347,179
      
295,173
  
 
  (*)
As of December 31, 2024, 2023 and 2022, 97%, 94% and 87% represent revenues in the United States.
 
  (**)
Including Europe, Middle East and Africa. Revenues from sales in Israel for the years ended December 31, 2024, 2023 and 2022, amounted to $5,182 thousand, $4,151 thousand, and $2,896 thousand, respectively.
 
   
December 31,
    
December 31,
  
   
2024
    
2023
  
   
$ thousands
    
$ thousands
  
             
Long-lived assets, net:
            
             
Israel
    
43,679
      
40,672
  
Others
    
9,787
      
8,824
  
Total long-lived assets, net (*)
    
53,466
      
49,496
  
 
  (*)
Long-lived assets are comprised of property and equipment, net and operating lease right-of-use assets.
 
C.          Major customer data as a percentage of total revenues:
 
In 2024, the Company had revenues from a customer that represents a group of affiliated companies, equaling 22.6%, a single customer that accounted for 14.6%, and a single customer that accounted for 12.0% of total revenues. In 2023, the Company had revenues from a customer that represents a group of affiliated companies, equaling 28.9%, a single customer that accounted for 18.1%, and a customer that represents a group of affiliated companies equaling 8.5% of total revenues. In 2022, the Company had revenues from a customer that represents a group of affiliated companies, equaling 22.8%, a single customer that accounted for 12.4%, and a customer that represents a group of affiliated companies equaling 12.4% of total revenues.