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Fair Value Measurement
 12 Months Ended
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