SEGMENT AND GEOGRAPHICAL INFORMATION

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

SEGMENT AND GEOGRAPHICAL INFORMATION

NOTE 19 - SEGMENT AND GEOGRAPHICAL INFORMATION

The Company operates in four reportable segments: (a) corporate (b) airport security (c) other aviation related services and (d) authentication technology. The corporate segment does not generate revenue and contains primarily non-operational expenses. The airport security segment provides security services mostly to airlines and airport authorities mostly in Europe. The other aviation related services segment provides various services to airlines within airports in the United States of America. The authentication technology segment provides authentication services to financial and other companies, predominantly in the United States of America. All inter-segment transactions are eliminated in consolidation. The accounting policies of the segments are the same as the accounting policies of the Company as a whole.

The operating results of these reportable segments are regularly reviewed by the chief operating decision.

	Corporate			Airport Security		Other Aviation Related Services			Authentication Technology			Total
Year ended December 31, 2023:
Revenue	$	-		$	309,335	$	66,463		$	55,744		$	431,542
Depreciation and amortization		5			904		307			1,463			2,679
Net income (loss)		(3,311	)		2,577		14			11,291			10,571
Goodwill		-			668		-			-			668
Total assets		17,740			81,733		19,325			78,298			197,096
Year ended December 31, 2022:
Revenue	$	-		$	224,037		53,954		$	46,986		$	324,977
Depreciation and amortization		71			779		286			1,318			2,454
Net income (loss)		(2,921	)		1,128		(2,229	)		(1,212	)		(5,234	)
Goodwill		-			646		-			-			646
Total assets		8,698			82,016		25,072			68,847			184,633
Year ended December 31, 2021:
Revenue	$	-		$	217,463	$	36,224		$	71,247		$	324,934
Depreciation and amortization		75			939		167			880			2,061
Net income (loss)		(2,020	)		7,202		14,710			21,396			41,288
Goodwill		-			690		-			-			690
Total assets		10,349			84,923		27,502			73,106			195,880

The following table sets forth, for the periods indicated, revenue generated from customers by geographical area based on the geographical location of the customer’s invoicing address:

	Year Ended December 31,
	2023		2022		2021
Germany	$	114,176	$	111,826	$	126,367
United States		99,765		88,333		94,743
The Netherlands		101,512		63,842		52,165
Spain		82,217		39,448		30,946
Other countries		33,872		21,528		20,713
Total revenue	$	431,542	$	324,977	$	324,934

The following table sets forth, for the periods indicated, property and equipment, net of accumulated depreciation and amortization, by country:

	December 31,
	2023		2022
Germany	$	510	$	384
United States		696		683
The Netherlands		482		488
Spain		120		135
Other countries		3,386		4,586
Total property and equipment, net	$	5,194	$	6,276

Property and equipment, net, in other countries include $3,125 and $4,216 property and equipment in Israel, as of December 31, 2023 and 2022, respectively.