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GOODWILL AND INTANGIBLE ASSETS, NET
 9 Months Ended
Sep. 30, 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   -    -    -    -    - 
Impairment of goodwill   -    -    -    (4,739)   (4,739)
Balance as of September 30, 2024   465    6,234    11,008    7,515    25,222 
                          
Accumulated amortization:                         
Balance as of January 1, 2024   276    1,631    3,366    -    5,273 
Amortization recognized during the period   115    668    1,378    -    2,161 
Balance as of September 30, 2024   391    2,299    4,744    -    7,434 
                          
Amortized cost:                         
As of September 30, 2024   74    3,935    6,264    7,515    17,788 

 

   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 

 

 

VIEWBIX INC.

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

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

 

NOTE 5: GOODWILL AND INTANGIBLE ASSETS, NET (Cont.)

 

B. Impairment of goodwill:

 

As of June 30, 2024, the Company identified 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 $4,739 which was driven mainly due to the Cortex Adverse Effect (see note 1.E) and due to a decrease in the cash flow projections.

 

As of December 31, 2023, the Company recognized an impairment loss of $5,107 related to the digital content reporting unit.