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GOODWILL AND INTANGIBLE ASSETS, NET
 3 Months Ended
Mar. 31, 2025
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, 2025   465    6,234    11,008    4,579    22,286 
Consolidation of Metagramm (see note 6)   -    420    760    5,125    6,305 
Balance as of March 31, 2025   465    6,654    

11,768

    9,704    28,591 
                          
Accumulated amortization:                         
Balance as of January 1, 2025   429    2,522    5,204    -    8,155 
                          
Amortization recognized during the period   36    222    457    -    715 
Balance as of March 31, 2025   465    2,744    5,661    -    8,870 
                          
Amortized cost:                         
As of March 31, 2025   -    3,910    6,107    9,704    19,721 

  

   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 

  

 

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 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.