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Selected Statements of Income Data (Tables) | 12 Months Ended
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Dec. 31, 2023
Selected Statements of Income Data [Abstract] |
Schedule of Research and Development Costs, Net | Research and development costs, net:
|  | Year ended December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |
Total costs |  | $ | 12,188 |  |  | $ | 13,149 |  |  | $ | 13,511 |
Less - capitalized software costs |  |  | (3,193 | ) |  |  | (3,059 | ) |  |  | (3,183 | )
Research and development, net |  | $ | 8,995 |  |  | $ | 10,090 |  |  | $ | 10,328 |
Schedule of Selling and Marketing Expenses | Selling and marketing expenses:
|  | Year ended December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |
Salary and related expenses |  | $ | 26,100 |  |  | $ | 33,474 |  |  | $ | 31,188 |
Advertising expenses |  |  | 2,522 |  |  |  | 2,676 |  |  |  | 2,802 |
Cost of share-based payment |  |  | 956 |  |  |  | (56 | ) |  |  | (225 | )
Others |  |  | 8,569 |  |  |  | 10,763 |  |  |  | 10,735 |
Total selling and marketing expenses |  | $ | 38,147 |  |  | $ | 46,857 |  |  | $ | 44,500 |
Schedule of General and Administrative Expenses | General and administrative expenses:
|  | Year ended December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |
Salary and related expenses |  |  | 24,072 |  |  | $ | 21,492 |  |  | $ | 27,425 |
Subcontractors |  |  | 3,842 |  |  |  | 5,335 |  |  |  | 4,726 |
Cost of share-based payment |  |  | - |  |  |  | 2,135 |  |  |  | 4,023 |
Others |  |  | 3,308 |  |  |  | 8,590 |  |  |  | 4,637 |
Total general and administrative expenses |  |  | 31,222 |  |  | $ | 37,552 |  |  | $ | 40,811 |
Schedule of Financial Income and Expenses | The following table provides detailed breakdown of the Company’s financial income and expenses:
|  | Year ended December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |
Financial expenses: |  |  |  |  |  |  |  |  |
Interest expenses on loans and borrowings |  |  | 615 |  |  |  | 1,743 |  |  |  | 5,039 |
Interest expenses attributed to leases |  |  | 719 |  |  |  | 691 |  |  |  | 964 |
Bank charges, negative foreign exchange differences and other financial expenses |  |  | 2,468 |  |  |  | 2,559 |  |  |  | 3,224 |
|  |  | 3,802 |  |  |  | 4,993 |  |  |  | 9,227 |
Financial income: |  |  |  |  |  |  |  |  |  |  |  |
Interest income attributed to bank deposits |  |  | 36 |  |  |  | 305 |  |  |  | 1,166 |
Interest income from deposits, positive foreign exchange differences and other financial income |  |  | 77 |  |  |  | 1,087 |  |  |  | 3,735 |
|  |  | 113 |  |  |  | 1,392 |  |  |  | 4,901 |
Financial expenses, net |  | $ | 3,689 |  |  | $ | 3,601 |  |  | $ | 4,326 |
Schedule of Computation of B asic and Diluted Net Earnings Per Share | The following table presents the computation of basic and diluted net earnings per share for the Company:
|  | Year ended December 31, |
|  | 2021 |  |  | 2022 |  |  | 2023 |
Numerator: |  |  |  |  |  |  |  |  |
Net income attributable to Magic shareholders |  | $ | 29,767 |  |  | $ | 40,470 |  |  | $ | 37,031 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Basic earnings per share - weighted average shares outstanding |  |  | 49,055,082 |  |  |  | 49,089,044 |  |  |  | 49,095,760 |
Effect of dilutive securities |  |  | 44,972 |  |  |  | 42,267 |  |  |  | 2,660 |
Diluted earnings per share – adjusted weighted average shares outstanding |  |  | 49,100,054 |  |  |  | 49,131,311 |  |  |  | 49,098,420 |
Basic and diluted net earnings per share |  |  | 0.61 |  |  |  | 0.82 |  |  |  | 0.75 |

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