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Operating Segments and Geographical Information | 12 Months Ended
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Dec. 31, 2024
Operating Segements and Geographical Information [Abstract] |
OPERATING SEGMENTS AND GEOGRAPHICAL INFORMATION | NOTE 4 - OPERATING SEGMENTS AND GEOGRAPHICAL INFORMATION: The Company operates its business and reports its financial results in four operating segments:
| a. | Architecture – this segment focuses on sales for both interior and exterior applications for commercial, retail, residential, healthcare and hospitality customers.
| b. | Automotive – this segment focuses on sales that enable OEMs to incorporate Company’s technology into glass rooftops, side windows and windshields to replace conventional mechanical sun visors and shades.
| c. | Safety tech – this segment focuses on sales of advanced driver assistance systems for buses, coaches, recreational vehicles and specific vehicles, such as camera and motion sensor systems, smart mirrors and safety doors.
| d. | Aeronautics – this segment focuses on the sale of shading and cabin management systems in private and commercial aircraft and helicopters.
The Company’s Chief Executive Officer (“CEO”), was identified as the chief operating decision maker (“CODM”) as of December 2024. The CODM reviews the financial information based on the Group’s disaggregated information about revenues and gross margin, once a quarter, including budget-to-actual variances, to make decisions about resources to be allocated to the segments and assess their performance. Segment revenues, expenses and gross margin exclude intersegment transactions. The CODM does not make operating and investing decisions based on assets, and as such does not review asset information per segment. The Company’s segments structure has been updated and the architecture segment and the automotive segment presented separately as of January 2024 and the CODM reviews this segment structure. Prior year figures were recast to reflect this change.
| e. | Segment Information:
|  | December 31, 2024 |
|  | Aeronautics |  |  | Architecture |  |  | Automotive |  |  | Safety tech |  |  | Total |
Revenues from external customers |  | $ | 41,380 |  |  | $ | 13,173 |  |  | $ | 3,333 |  |  | $ | 45,641 |  |  | $ | 103,527 |
Intersegment revenues |  |  | 2,010 |  |  |  | 116 |  |  |  | 8 |  |  |  | - |  |  |  | 2,134 |
Cost of revenue |  |  | 22,858 |  |  |  | 8,565 |  |  |  | 3,883 |  |  |  | 36,412 |  |  |  | 71,718 |
Depreciation and amortization |  |  | 970 |  |  |  | 196 |  |  |  | 58 |  |  |  | 844 |  |  |  | 2,068 |
Gross profit (loss) |  | $ | 17,552 |  |  | $ | 4,412 |  |  | $ | (608 | ) |  | $ | 8,385 |  |  | $ | 29,741 |
|  | December 31, 2023 |
|  | Aeronautics |  |  | Architecture |  |  | Automotive |  |  | Safety tech |  |  | Total |
Revenues from external customers |  | $ | 33,829 |  |  | $ | 12,613 |  |  | $ | 1,835 |  |  | $ | 29,703 |  |  | $ | 77,980 |
Intersegment revenues |  |  | 2,057 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,057 |
Cost of revenue |  |  | 21,246 |  |  |  | 8,498 |  |  |  | 1,967 |  |  |  | 24,281 |  |  |  | 55,992 |
Depreciation and amortization |  |  | 1,030 |  |  |  | 177 |  |  |  | - |  |  |  | 840 |  |  |  | 2,047 |
Gross profit (loss) |  | $ | 11,553 |  |  | $ | 3,938 |  |  | $ | (132 | ) |  | $ | 4,582 |  |  | $ | 19,941 |
|  | December 31 |
|  | 2024 |  |  | 2023 |
Total revenues for reportable segments |  | $ | 105,661 |  |  | $ | 80,037 |
Elimination of intersegment revenues |  |  | (2,134 | ) |  |  | (2,057 | )
Total consolidated revenues |  |  | 103,527 |  |  |  | 77,980 |
Total gross profit |  |  | 29,741 |  |  |  | 19,941 |
Amounts not allocated to segments: |  |  |  |  |  |  |  |
Research and development expenses |  |  | 17,590 |  |  |  | 16,035 |
General and administrative expenses |  |  | 22,194 |  |  |  | 16,187 |
Sales and marketing expenses |  |  | 16,134 |  |  |  | 15,302 |
Depreciation and amortization |  |  | 4,608 |  |  |  | 3,664 |
Other operating (income) expenses |  |  | (23 | ) |  |  | 747 |
Consolidated operating loss |  |  | (30,762 | ) |  |  | (31,994 | )
Other (income) expenses |  |  | (44 | ) |  |  | 32 |
Other financial expenses, net |  |  | (22,314 | ) |  |  | (47,122 | )
Consolidated loss before income taxes |  | $ | (53,120 | ) |  | $ | (79,084 | )
| f. | Geographical information
The following table summarizes revenue by region based on the shipping address of customers:
|  | Year ended December 31 |
|  | 2024 |  |  | 2023 |
Israel |  | $ | 1,327 |  |  | $ | 1,096 |
United States |  |  | 29,305 |  |  |  | 17,543 |
France |  |  | 26,480 |  |  |  | 35,753 |
Rest of Europe |  |  | 30,023 |  |  |  | 16,936 |
Asia |  |  | 12,190 |  |  |  | 3,572 |
Rest of world |  |  | 4,202 |  |  |  | 3,080 |
|  | $ | 103,527 |  |  | $ | 77,980 |
The following table presents the Company’s long-lived assets, net of depreciation and amortization, by geographic region:
|  | December 31 |
|  | 2024 |  |  | 2023 |
Israel |  | $ | 4,850 |  |  | $ | 4,846 |
United States |  |  | 285 |  |  |  | 321 |
France |  |  | 27,935 |  |  |  | 23,392 |
Rest of Europe |  |  | 4,838 |  |  |  | 4,321 |
Rest of the world |  |  | 68 |  |  |  | 27 |
Total long-lived assets, net |  | $ | 37,976 |  |  | $ | 32,907 |
Long-lived assets include property, plant and equipment and right-of-use (ROU) assets of leases.
| g. | Major customers
See note 2(p) above.

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