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SEGMENT REPORTING
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
SEGMENT REPORTING

NOTE 17: SEGMENT REPORTING

 

The Group operates in two different segments in such a way that each company in the Group operates as a separate business segment.

 

Search segment- the search segment develops a variety of technological software solutions, which perform automation, optimization and monetization of internet campaigns, for the purposes of acquiring and routing internet user traffic to its customers.

 

Digital content segment- the digital content segment is engaged in the creation and editing of content, in different languages, for different target audiences, for the purposes of generating revenues from leading advertising platforms, including Google, Facebook, Yahoo and Apple, by utilizing such content to obtain internet user traffic for its advertisers.

 

The segments’ results include items that directly serve and/or are used by the segment’s business activity and are directly allocated to the segment. As such they do not include depreciation and amortization expenses for intangible assets created at the time of the purchase of those companies, financing expenses created for loans taken for the purpose of purchasing those companies, and therefore these items are not allocated to the various segments.

 

Segments’s assets and liabilities are not reviewed by the CODM and therefore were not reflected in the segment reporting.

 

A. Segments revenues and operating results:

 

  

Search segment

  

Digital content segment

  

Adjustments

(See below)

  

Nine months ended September 30, 2022

 
Revenues from external customers   17,600    48,515    -    66,115 
Depreciation and amortization   -    -    2,051    2,051 
                     
Segment operating income   316    3,586    (2,495)   1,407 
Financial expenses, net   99    1    1,274    1,374 
Segment Income (loss), before income taxes   217    3,585    (3,769)   33 
Taxes on income   (91)   393    (239)   63 
Segment net income (loss)   308    3,192    (3,530)   (30)

 

 

VIEWBIX INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

 

U.S. dollars in thousands (except share data)

 

NOTE 17: SEGMENT REPOTING (Cont.)

 

   Search segment   Digital content segment  

Adjustments

(See below)

   Three months ended September 30, 2022 
Revenues from external customers   5,702    17,076    -    22,778 
Depreciation and amortization   -    -    736    736 
                     
Segment operating income   147    1,265    (985)   427 
Financial expenses, net   32    27    242    301 
Segment Income (loss), before income taxes   115    1,238    (1,227)   126 
Taxes on income   14    132    (91)   55 
Segment net income (loss)   101    1,106    (1,136)   71 

 

B. Reconciliation between segments operating results to total operating results in financial statements:

   Nine months ended
September 30		   Three months ended
September 30		 
   2022   2022 
           
Segments total operating results  $3,902   $1,412 
Depreciation and amortization expenses not attributable to segments (*)  $(2,051)  $(736)
General and administrative and other costs not attributable to the segments (**)  $(544)  $(308)
Finance expenses net, not attributable to the segments (***)   (1,274)   242 
Income (expenses), before income taxes  $33   $126 

 

(*)Mainly consist of technology and customer relations amortization costs from business combinations (see note 7).

 

(**)Mainly consist of salary and related expenses, professional consulting expenses and other expenses in connection with the business combinations and the Reorganization Transaction.

 

(***)Mainly consist of financial expenses from the Financing Agreement of bank loans taken for business combinations (see note 10).