XML 46 R23.htm IDEA: XBRL DOCUMENT v3.24.1
SEGMENT REPORTING
 12 Months Ended
Dec. 31, 2023
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 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)		   Year ended
December 31,
2023		 
                 
Revenues from external customers   20,469    59,144    -    79,613 
Depreciation and amortization   -    -    2,952    2,952 
Goodwill Impairment   -    -    5,107    5,107 
Segment operating income (loss)   1,410    760    (9,642)   (7,472)
Financial expenses, net   (80)   (505)   (696)(*)   (1,281)
Segment Income (loss), before income taxes   1,330    255    (10,338)   (8,753)

 

 

VIEWBIX INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

 

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

 

NOTE 17: SEGMENT REPOTING (Cont.)

 

A. Segments revenues and operating results: (Cont.)

 

   Search
segment		   Digital
content
segment		   Adjustments
(See below) 		   Year ended
December 31,
2022		 
                 
Revenues from external customers   22,746    73,857    -    96,603 
Inter segment revenues   -    124    (124)   - 
Depreciation and amortization   -    -    2,809    2,809 
Segment operating income   313    6,144    (3,731)   2,726 
Financial (expenses) income, net   5    (21)   (1,440)(*)   (1,456)
Segment Income (loss), before income taxes   318    6,123    (5,171)   1,270 

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

 

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:

 

  

Year ended

December 31,

2023

 

Year ended

December 31,

2022

 
         
Depreciation and amortization expenses not attributable to segments (**)  $(2,952)  $(2,809)
General and administrative not attributable to the segments (***)  $(1,583)  $(922)
Goodwill Impairment  $(5,107)  $- 
    (9,642)   (3,731)

 

  (*) Mainly consist of financial expenses from the Financing Agreement of bank loans taken for business combinations (see note 10).
     
  (**) Mainly consist of technology and customer relations amortization costs from business combinations (see note 7).
     
  (***) Mainly consist of salary and related expenses and professional consulting expenses
     

 

 

VIEWBIX INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

 

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