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Fair Value Measurement | 12 Months Ended
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Dec. 31, 2023
Fair Value Measurement [Abstract] |
FAIR VALUE MEASUREMENT | NOTE 6:- FAIR VALUE MEASUREMENT In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and considers counterparty credit risk in its assessment of fair value. The Company’s financial assets and liabilities measured at fair value on a recurring basis, including accrued interest components, consisted of the following types of instruments as of December 31, 2022 and 2023:
|  | Fair value measurements |
|  | December 31, 2023 |
|  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |
Assets in respect of business combinations |  | $ | 1,368 |  |  | $ | 1,368 |
|  | $ | 1,368 |  |  | $ | 1,368 |
Liabilities: |  |  |  |  |  |  |  |
Liability in respect of business combinations |  | $ | 6,175 |  |  | $ | 6,175 |
Put options of non-controlling interests |  |  | 18,872 |  |  |  | 18,872 |
|  | $ | 25,047 |  |  | $ | 25,047 |
|  | Fair value measurements |
|  | December 31, 2022 |
|  | Level 3 |  |  | Total |
Liabilities: |  |  |  |  |  |
Liability in respect of business combinations |  | $ | 19,693 |  |  | $ | 19,693 |
Put options of non-controlling interests |  |  | 28,292 |  |  |  | 28,292 |
|  | $ | 47,985 |  |  | $ | 47,985 |
There were no Level 1 or Level 2 instruments during neither of the reported periods. The movement in the contingent consideration in respect of the business combinations is as follows:
|  | December 31, |
|  | 2022 |  |  | 2023 |
Opening balance |  | $ | 17,772 |  |  | $ | 19,693 |
Increase in contingent consideration due to acquisitions |  |  | 10,670 |  |  |  | - |
Payment of contingent consideration |  |  | (8,547 | ) |  |  | (13,908 | )
Increase in fair value of contingent consideration |  |  | 119 |  |  |  | 880 |
Decrease in fair value of contingent consideration |  |  | (1,025 | ) |  |  | (640 | )
Foreign currency translation adjustments |  |  | (598 | ) |  |  | (146 | )
Amortization of interest and exchange rate |  |  | 1,302 |  |  |  | 296 |
Closing balance |  | $ | 19,693 |  |  | $ | 6,175 |
The movement in the deferred consideration in respect of the business combinations is as follows:
|  | December 31, |
|  | 2022 |  |  | 2023 |
Opening balance |  | $ | 2,755 |  |  | $ | 4,970 |
Increase in deferred consideration due to acquisitions |  |  | 4,744 |  |  |  | - |
Payment of deferred consideration |  |  | (1,742 | ) |  |  | (3,757 | )
Amortization of interest and exchange rate |  |  | 74 |  |  |  | 62 |
Working capital adjustments and other |  |  | (861 | ) |  |  | 255 |
Closing balance |  | $ | 4,970 |  |  | $ | 1,530 |
The financial assets and liabilities in the consolidated statements of financial position are classified by groups of financial instruments pursuant to IFRS 9:
|  | December 31, |
|  | 2022 |  |  | 2023 |
Financial assets |  |  |  |  |  |
Financial assets at cost: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 83,062 |  |  | $ | 105,943 |
Short-term bank deposits |  |  | 3,904 |  |  |  | 751 |
Trade receivables, net |  |  | 118,126 |  |  |  | 108,385 |
Marketable securities |  |  | 757 |  |  |  | 2,316 |
Total financial assets at cost measured at cost: |  | $ | 205,849 |  |  | $ | 217,395 |
Financial assets at fair value through profit or loss: |  |  |  |  |  |  |  |
Assets in respect of business combinations |  | $ | - |  |  | $ | 1,368 |
Total financial assets |  | $ | 205,849 |  |  | $ | 218,763 |
Financial liabilities at fair value through equity: |  |  |  |  |  |  |  |
Put options of non-controlling interests |  | $ | 28,292 |  |  | $ | 18,872 |
Financial liabilities at fair value through profit or loss: |  |  |  |  |  |  |  |
Liability in respect of business combinations |  | $ | 24,663 |  |  | $ | 7,705 |
Financial liabilities measured at amortized cost: |  |  |  |  |  |  |  |
Loans from bank and financial institutions (short-term and long-term debts |  | $ | 51,167 |  |  | $ | 81,208 |
Lease liabilities |  |  | 28,873 |  |  |  | 27,507 |
Total financial liabilities measured at amortized cost: |  | $ | 80,040 |  |  | $ | 108,715 |
Total financial and lease liabilities |  | $ | 132,995 |  |  | $ | 135,292 |

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