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Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Intangible Assets [Abstract]  
Schedule of Intangible Assets

Intangible assets consisted of the following:

 

       December 31, 2024 
   Cost   Accumulated amortization   Currency translation adjustment   Net 
Exclusivity right  $951   $(951)  $
-
   $
-
 
Technology   9,500    (5,329)   (582)   3,589 
Customer relationships   16,300    (3,051)   (1,168)   12,081 
IP*   4,500    (852)   
-
    3,648 
Total identified intangible assets  $31,251   $(10,183)  $(1,750)  $19,318 
       December 31, 2023 
   Cost   Accumulated
amortization		   Currency
translation
adjustment		   Net 
Exclusivity right  $951   $(951)  $
-
   $
-
 
Technology   9,500    (3,487)   (315)   5,698 
Customer relationships   16,300    (1,994)   (389)   13,917 
IP*   4,500    (208)   
-
    4,292 
Total identified intangible assets  $31,251   $(6,640)  $(704)  $23,907 

 

(*)On February 28, 2023, the Company entered into a Patent Assignment and Technology Information Disclosure Agreement with Resonac Corporation (“REC”). Pursuant to the agreement, the Company acquired specific Suspended Particle Device (“SPD”) film patents from REC and obtained knowhow of REC’s technical and business information related to SPD film for a total consideration of $4.5 million. The Company paid REC the consideration in two payments until September 2023. The acquired technology is accounted for as an IP intangible asset, amortized over a period of 7 years starting in September 2023.
Schedule of Amortization Expenses Recorded for Identified Intangible Assets

Amortization expenses recorded for identified intangible assets in the Consolidated Statements of Operations for each period and were as follows:

 

   For the year ended
December 31,		 
   2024   2023 
Exclusivity right  $
-
   $99 
Technology   1,842    1,842 
Customer relationships   1,057    1,053 
IP*   644    208 
Total amortization expenses  $3,543   $3,202 

 

(*)In 2024, an amount of $161 was capitalized to inventory and included in the cost of revenues.
Schedule of Future Amortization Expense

Future amortization expenses are expected to be as follows:

 

   2025   2026   2027   2028   2029   Thereafter   Total 
Future amortization expenses   3,376    3,376    1,766    1,643    1,643    7,514    19,318 
Schedule of Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for the years ended December 31, 2024 and 2023 were as follows:

 

   Aeronautics   Architecture   Automotive   Safety tech   Total 
                     
Balance as of December 31, 2022  $4,958   $1,382   $8,764   $5,676   $20,780 
Changes during the period:                         
Translation differences   184    60    315    211    770 
Balance as of December 31, 2023  $5,142   $1,442   $9,079   $5,887   $21,550 
Changes during the period:                         
Translation differences   (303)   (85)   (534)   (346)   (1,268)
Balance as of December 31, 2024  $4,839   $1,357   $8,545   $5,541    20,282 
Schedule of Quantitative Assessment of the Reporting Units’ Fair Value

As of December 31, 2024, the Company performed a quantitative assessment of the reporting units’ fair value. No impairment charges were recognized as of December 31, 2024. This, based on the following assumptions:

 

   Aeronautics   Architecture   Automotive   Safety tech 
Discount rate   19%   19%   19%   19%
Terminal growth rate   3%   3%   3%   3%