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Segment and Revenue Information

6 Months Ended

Jun. 30, 2024

Segment and Revenue Information [Abstract]

NOTE 4 - SEGMENT AND REVENUE INFORMATION:

Disaggregation of revenue

The Company’s revenue is disaggregated by segments and source.

The following table presents the Company’s revenue disaggregated by source for the six months ended June 30, 2024 and 2023:

	Six months ended June 30
	2024		2023
	U.S. dollars in thousands

Software as a Service		17,257		9,983
Advertising services		3		2,681
		17,260		12,664

Segments

Management has determined the Company’s operating segments based on the information reviewed by the Company’s chief operating decision maker for the purpose of allocating resources to the segments and assessing their performance.

The chief operating decision maker, who is the Company’s Chief Executive Officer (“CEO”), examines the performance of each operating segment based on revenue and segment adjusted EBITDA. The Company defines segment adjusted EBITDA as net profit (loss) before depreciation, amortization and impairment of intangible assets, finance income (expense) and income tax, as further adjusted for the effect of impairment of goodwill, share-based payments and other adjustments, as applicable.

The following table presents details of the Company’s operating segments and a reconciliation of the total segment adjusted EBITDA to profit (loss) before income tax for the six months ended June 30, 2024 and 2023:

	Six months ended June 30
	2024			2023
	U.S. dollars in thousands
Revenue
Enterprise internet access		16,751			8,428
Consumer internet access		509			4,236
		17,260			12,664
Segment adjusted EBITDA
Enterprise internet access		7,610			2,219
Consumer internet access		260			73
		7,870			2,292
Non-attributable corporate costs		(1,315	)		(1,123	)
Depreciation, amortization and impairment of intangible assets		(334	)		(3,002	)
Impairment of goodwill		-			(6,311	)
Share-based payments		(956	)		(599	)
Finance income (expense), net		(3,345	)		116
Profit (loss) before income tax		1,920			(8,627	)