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SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
SEGMENT REPORTING

NOTE 11: 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 six months ended June 30, 2024 
   Search segment  

Digital

content

segment

  

Adjustments

(See below)

   Total 
                 
Revenues from external customers   3,587    13,748    -    17,335 
Depreciation and amortization   -    -    1,555    1,555 
Goodwill Impairment   -    -    4,739    4,739 
Segment operating income (loss)   718    (199)   (7,009)   (6,490)
Financial expenses, net   (10)   (74)   (2,823)   (2,907)
Segment Income (loss), before income taxes   708    (273)   (9,832)   (9,397)

 

   Search segment  

Digital

content

segment

  

Adjustments

(See below)

    Total 
   For the six months ended June 30, 2023 
   Search segment  

Digital

content

segment

  

Adjustments

(See below)

    Total 
                  
Revenues from external customers   10,952    37,064    -     48,016 
Depreciation and amortization   -    -    1,468     1,468 
Segment operating income (loss)   766    1,664    (2,256)    174 
Financial expenses, net   (81)   (46)   (304) (*)    (431)
Segment Income (loss), before income taxes   685    1,618    (2,560)    (257)

 

 

VIEWBIX INC.

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

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

 

NOTE 11: SEGMENT REPORTING (Cont.)

 

   Search segment  

Digital

content

segment

  

Adjustments

(See below)

   Total 
   For the three months ended June 30, 2024 
   Search segment  

Digital

content

segment

  

Adjustments

(See below)

   Total 
                 
Revenues from external customers   1,115    6,218    -    7,333 
Depreciation and amortization   -    -    821    821 
Goodwill Impairment   -    -    4,739    4,739 
Segment operating income (loss)   256    186    (5,921)   (5,479)
Financial expenses, net   (11)   (60)   (2,673)   (2,744)
Segment Income (loss), before income taxes   245    126    (8,594)   (8,223)

 

   Search segment  

Digital

content

segment

  

Adjustments

(See below)

    Total 
   For the three months ended June 30, 2023 
   Search segment  

Digital

content

segment

  

Adjustments

(See below)

    Total 
                  
Revenues from external customers   5,842    21,312    -     27,154 
Depreciation and amortization   -    -    734     734 
Segment operating income (loss)   535    868    (1,153)    250 
Financial expenses, net   (7)   (83)   (156) (*)    (246)
Segment Income (loss), before income taxes   528    785    (1,309)    4 

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

 

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 six
months ended

June 30, 2024

  

For the three
months ended

June 30, 2024

 
         
Depreciation and amortization expenses not attributable to segments (**)   (1,555)   (821)
General and administrative not attributable to the segments (***)   (715)   (361)
Goodwill Impairment   (4,739)   (4,739)
    (7,009)   (5,921)

 

 

VIEWBIX INC.

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

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

 

NOTE 11: SEGMENT REPORTING (Cont.)

 

  

For the six
months ended

June 30, 2023

  

For the three
months ended

June 30, 2023

 
         
Depreciation and amortization expenses not attributable to segments (**)   (1,468)   (734)
General and administrative not attributable to the segments (***)   (788)   (419)
    (2,256)   (1,153)

 

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

 

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

 

 

VIEWBIX INC.

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

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