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Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of income (loss) before income taxes and income taxes expense (benefit) included in the consolidated statements of operations

		Year ended December 31
		2021				2022				2023
		US$ thousands
Income (loss) before income taxes:
Israel			7,486				17,915				(30,101	)
Foreign jurisdictions			5,419				4,475				2,799
			12,905				22,390				(27,302	)
Current taxes:
Israel			1,281				1,765				201
Foreign jurisdictions			1,192				1,198				921
			2,473				2,963				1,122
Current tax (benefits) expenses relating
to prior years:
Israel			(10	)			(215	)			(10	)
Foreign jurisdictions			(147	)			158				(116	)
			(157	)			(57	)			(126	)
Deferred taxes:
Israel			174				1,114				(1,857	)
Foreign jurisdictions			(126	)			64				(28	)
			48				1,178				(1,885	)
Income tax expense (benefit)			2,364				4,084				(889	)

Schedule of deferred tax assets and liabilities

		December 31				December 31
		2022				2023
		US$ thousands				US$ thousands
Deferred tax assets:
Accrued employee benefits			362				266
Research and development costs			1,380				1,065
Operating loss carryforwards			-				306
Share based compensation			391				338
Intangible assets			163				117
Operating lease liabilities			693				446
Goodwill*			-				382
Other			54				39
Total deferred tax assets			3,043				2,959
Deferred tax liabilities:
Intangible assets			(357	)			(161	)
Goodwill*			(1,511	)			-
Operating leases right-of-use, net			(747	)			(485	)
Total deferred tax liabilities			(2,615	)			(646	)
Net deferred tax assets			428				2,313
In Israel			502				2,359
Foreign jurisdictions			(74	)			(46	)
Net deferred tax assets			428				2,313
Non-current deferred tax assets			502				2,359
Non-current deferred tax liabilities			(74	)			(46	)

* The recognized goodwill is deductible for income tax purposes for 10 years.

Schedule of reconciliation of the statutory tax expense to actual tax expense

		Year ended December 31
		2021				2022				2023
		US$ thousands
Income (loss) before income taxes			12,905				22,390				(27,302	)
Statutory tax rate in Israel			23.0	%			23.0	%			23.0	%
			2,968				5,150				(6,279	)
Increase (decrease) in taxes resulting from:
Non-deductible operating expenses			395				566				4,308
Prior years adjustments			(157	)			(57	)			(126	)
Tax effect due to "Preferred Enterprise" status			(577	)			1,949				784
Statutory rate differential			(86	)			168				221
Other			(179	)			206				203
Income tax expense (benefit)			2,364				4,084				(889	)

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 9
-Section 50
-Publisher FASB
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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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-Name Accounting Standards Codification
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

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-SubTopic 10
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