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GOODWILL AND INTANGIBLE ASSETS, NET | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS, NET | NOTE 6: GOODWILL AND INTANGIBLE ASSETS, NET A. Composition: SCHEDULE OF GOODWILL AND INTANGIBLE ASSETS
|  | Internal-use Software (*) |  |  | Customer Relations |  |  | Technology |  |  | Goodwill |  |  | Total |
Cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance as of January 1, 2023 |  |  | 465 |  |  |  | 6,234 |  |  |  | 11,008 |  |  |  | 17,361 |  |  |  | 35,068 |
Adjustments to Ultimate Parent company carrying values (see note 7.B) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Additions |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Impairment of goodwill |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (5,107 | ) |  |  | (5,107 | )
Balance as of December 31, 2023 |  |  | 465 |  |  |  | 6,234 |  |  |  | 11,008 |  |  |  | 12,254 |  |  |  | 29,961 |
Accumulated amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance as of January 1, 2023 |  |  | 122 |  |  |  | 741 |  |  |  | 1,531 |  |  |  | - |  |  |  | 2,394 |
Adjustments to Ultimate Parent company carrying values (see note 7.B) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization recognized during the year |  |  | 154 |  |  |  | 890 |  |  |  | 1,835 |  |  |  | - |  |  |  | 2,879 |
Balance as of December 31, 2023 |  |  | 276 |  |  |  | 1,631 |  |  |  | 3,366 |  |  |  | - |  |  |  | 5,273 |
Amortized cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of December 31, 2023 |  |  | 189 |  |  |  | 4,603 |  |  |  | 7,642 |  |  |  | 12,254 |  |  |  | 24,688 |
|  | Internal-use Software (*) |  |  | Customer Relations |  |  | Technology |  |  | Goodwill |  |  | Total |
Cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance as of January 1, 2022 |  |  | 449 |  |  |  | 7,753 |  |  |  | 7,757 |  |  |  | 12,483 |  |  |  | 28,442 |
Beginning balance |  |  | 449 |  |  |  | 7,753 |  |  |  | 7,757 |  |  |  | 12,483 |  |  |  | 28,442 |
Adjustments to Ultimate Parent company carrying values (see note 7.B) |  |  | - |  |  |  | (1,519 | ) |  |  | 3,251 |  |  |  | 4,878 |  |  |  | 6,610 |
Additions |  |  | 16 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 16 |
Balance as of December 31, 2022 |  |  | 465 |  |  |  | 6,234 |  |  |  | 11,008 |  |  |  | 17,361 |  |  |  | 35,068 |
Ending balance |  |  | 465 |  |  |  | 6,234 |  |  |  | 11,008 |  |  |  | 17,361 |  |  |  | 35,068 |
Accumulated amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance as of January 1, 2022 |  |  | - |  |  |  | 4,261 |  |  |  | 3,284 |  |  |  | - |  |  |  | 7,545 |
Beginning balance |  |  | - |  |  |  | 4,261 |  |  |  | 3,284 |  |  |  | - |  |  |  | 7,545 |
Adjustments to Ultimate Parent company carrying values (see note 7.B) |  |  | - |  |  |  | (4,457 | ) |  |  | (3,413 | ) |  |  | - |  |  |  | (7,870 | )
Amortization recognized during the year |  |  | 122 |  |  |  | 937 |  |  |  | 1,660 |  |  |  | - |  |  |  | 2,719 |
Balance as of December 31, 2022 |  |  | 122 |  |  |  | 741 |  |  |  | 1,531 |  |  |  | - |  |  |  | 2,394 |
Ending balance |  |  | 122 |  |  |  | 741 |  |  |  | 1,531 |  |  |  | - |  |  |  | 2,394 |
Amortized cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of December 31, 2022 |  |  | 343 |  |  |  | 5,493 |  |  |  | 9,477 |  |  |  | 17,361 |  |  |  | 32,674 |
(*) | During 2020, Gix Media engaged with a subcontractor for the development of an internal-use software (the “Software”). Gix Media capitalized its developments costs until March 1, 2022 and from this date the Software became available for use. Accordingly, Gix Media recognized amortization expenses over the estimated useful life of the Software determined to be three years. For the years ended December 31, 2023 and 2022, Gix Media recorded amortization expenses of $154 and $122.
VIEWBIX INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS U.S. dollars in thousands (except share data) NOTE 6: GOODWILL AND INTANGIBLE ASSETS, NET (Cont.) B. Impairment of goodwill: As of December 31, 2023, the Company recognized indicators of impairment of the digital content reporting unit. As a result, the Company performed an impairment test which included a quantitative analysis of the fair value of the reporting unit. The fair value was estimated using the income approach, which is based on the present value of the future cash flows attributable to the reporting unit. The Company compared the fair value of the reporting unit to its carrying amount. As the carrying amount exceeded the fair value, the Company recognized an impairment loss of $5,107 which was driven mainly due to a decrease in the cash flow projections. The Company also performed a quantitative impairment test of the search reporting unit. The Company did not recognize an impairment regarding this reporting unit. As of December 31,2022, the Company didn’t record an impairment loss. C. Estimated annual amortization expense for each of the next five years is as follows: SCHEDULE OF ESTIMATED ANNUAL AMORTIZATION EXPENSE
2024 |  |  | 2,879 |
2025 |  |  | 2,760 |
2026 |  |  | 2,725 |
2027 |  |  | 2,725 |
2028 |  |  | 1,194 |

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