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SEGMENT REPORTING
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
SEGMENT REPORTING

NOTE 9: 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 obtaining 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 customers.

 

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’ assets and liabilities are not reviewed by the Group’s chief operating decision maker and therefore were not reflected in the segment reporting.

 

Segments revenues and operating results:

 

   Search segment   Digital content segment  

Adjustments

(See below)

   Total 
   For the nine months ended September 30, 2023 
   Search segment   Digital content segment  

Adjustments

(See below)

   Total 
                 
Revenues from external customers   16,593    47,138    -    63,731 
Depreciation and amortization   -    -    2,202    2,202 
Segment operating income (loss)   1,053    796    (3,327)   (1,478)
Financial expenses, net   (89)   (159)   (*) (443)   (691)
Segment income (loss), before income taxes   964    637    (3,770)   (2,169)

 

   Search segment   Digital content segment  

Adjustments

(See below)

   Total 
   For the nine months ended September 30, 2022 
   Search segment   Digital content segment  

Adjustments

(See below)

   Total 
                 
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 

 

 

VIEWBIX INC.

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

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

 

NOTE 9: SEGMENT REPORTING (Cont.)

 

   Search segment   Digital content segment  

Adjustments

(See below)

   Total 
   For the three months ended September 30, 2023 
   Search segment   Digital content segment  

Adjustments

(See below)

   Total 
                 
Revenues from external customers   5,641    10,074    -    15,715 
Depreciation and amortization   -    -    734    734 
Segment operating income (loss)   287    (868)   (1,071)   (1,652)
Financial expenses, net   (8)   (113)   (*) (139)   (260)
Segment Income (loss), before income taxes   279    (981)   (1,210)   (1,912)

 

   Search segment   Digital content segment  

Adjustments

(See below)

   Total 
   For the three months ended September 30, 2022 
   Search segment   Digital content segment  

Adjustments

(See below)

   Total 
                 
Revenues from external customers   5,702    17,076    -    22,778 
Depreciation and amortization   -    -    736    736 
Segment operating income (loss)   147    1,265    (985)   427 
Financial expenses, net   (32)   (27)   (*) (242)   (301)
Segment Income (loss), before income taxes   115    1,238    (1,227)   126 

 

  (*) Mainly consist of financial expenses from the Financing Agreement of bank loans taken for business combinations (see note 6).

 

 

VIEWBIX INC.

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

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

 

NOTE 9: SEGMENT REPORTING (Cont.)

 

The “adjustment” column for segment operating income includes unallocated selling, general, and administrative expenses and certain items which management excludes from segment results when evaluating segment performance, as follows:

 

  

For the nine

months ended

September 30, 2023

  

For the three

months ended

September 30, 2023

 
         
Depreciation and amortization expenses not attributable to segments (**)   (2,202)   (734)
General and administrative not attributable to the segments (***)   (1,125)   (337)
    (3,327)   (1,071)

 

  

For the nine

months ended

September 30, 2022

  

For the three

months ended

September 30, 2022

 
         
Depreciation and amortization expenses not attributable to segments (**)   (2,051)   (736)
General and administrative not attributable to the segments (***)   (444)   (249)
    (2,495)   (985)

 

  (**) Mainly consist of technology and customer relations amortization costs from business combinations.
     
  (***) Mainly consist of salary and related expenses and professional consulting expenses.