XML 45 R16.htm IDEA: XBRL DOCUMENT v3.25.1
GOODWILL AND INTANGIBLE ASSETS, NET
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS, NET

NOTE 6: 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 
                          
Impairment of goodwill   -    -    -    (7,675)   (7,675)
Balance as of December 31, 2024   465    6,234    11,008    4,579    22,286 
                          
Accumulated amortization:                         
Balance as of January 1, 2024   276    1,631    3,366    -    5,273 
                          
Amortization recognized during the year   153    891    1,838    -    2,882 
Balance as of December 31, 2024   429    2,522    5,204    -    8,155 
                          
Amortized cost:                         
As of December 31, 2024   36    3,712    5,804    4,579    14,131 

  

   Internal-use Software   Customer Relations   Technology   Goodwill   Total 
Cost:                         
Balance as of January 1, 2023   465    6,234    11,008    17,361    35,068 
                          
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 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, 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 $7,675 which was driven mainly due to the Cortex Adverse Effect (see note 1.E) and 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, 2023, the Company recognized an impairment loss of $5,107 related to the digital content reporting unit.

 

C. Estimated annual amortization expense for each of the next five years is as follows:

   

     
2025     2,760  
2026     2,725  
2027     2,725  
2028     1,194  
2029     152