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GOODWILL AND INTANGIBLE ASSETS, NET
 3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS, NET

NOTE 5: GOODWILL AND INTANGIBLE ASSETS, NET

 

  A. Composition:

 

   Internal-use Software   Customer Relations   Technology   Goodwill   Total 
Cost:                    
Balance as of January 1, 2024   465    6,234    11,008    12,254    29,961 
Additions   -    -    -           
Balance as of March 31, 2024   465    6,234    11,008    12,254    29,961 
                          
Accumulated amortization:                         
Balance as of January 1, 2024   276    1,631    3,366    -    5,273 
Amortization recognized during the period   38    222    459    -    719 
Balance as of March 31, 2024   314    1,853    3,825    -    5,992 
                          
Amortized cost:                         
As of March 31, 2024   151    4,381    7,183    12,254    23,969 

 

   Internal-use Software   Customer Relations   Technology   Goodwill (*)   Total 
Cost:                         
Balance as of January 1, 2023   465    6,234    11,008    17,361    35,068 
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 
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 

 

(*) 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 and 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. The assessment of impairment loss was not impacted by subsequent events that occurred in April 2024 (see note 10), which may result in an additional goodwill impairment loss during the second quarter of 2024.

 

 

VIEWBIX INC.

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited

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