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GOODWILL AND OTHER INTANGIBLE ASSETS, NET
 12 Months Ended
Dec. 31, 2024
Intangible assets, net [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS, NET
NOTE 8:
GOODWILL AND OTHER INTANGIBLE ASSETS, NET
 
  a.
Goodwill
 
The changes in the net carrying amount of goodwill in 2024 and 2023 were as follows:
 
Balance as of January 1, 2023
  
$
195,527
  
         
Acquisition of Hivestack
  
$
52,448
  
         
Balance as of December 31, 2023
  
$
247,975
  
         
Measurement period adjustment
  
$
(889
)
         
Balance as of December 31, 2024
  
$
247,086
  
 
Goodwill has been recorded as a result of prior acquisitions and represents excess of consideration over the net fair value of the assets of the businesses acquired. As of December 31, 2024, the Company has two reporting units - Advertising Solutions and Search advertising. The Company performs tests for impairment of goodwill at the reporting unit level at least annually, or more frequently if events or changes in circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value.
 

During 2024, the Company experienced a significant decline in its stock price. In response, and as part of the Company’s annual impairment test, the Company performed a quantitative goodwill impairment test as of December 31, 2024, which indicated that the fair value of each reporting unit exceeded its carrying amount, and therefore, no impairment loss was recorded. The company used the income approach to measure the fair value of the reporting units. The significant assumptions used in the model mainly relate to the projected revenues and operating income in the forecasted years.

 

No goodwill impairment was incurred for the years ended December 31, 2024, 2023 and 2022.

 

  b.
Intangible assets, net

 

The following is a summary of intangible assets as of December 31, 2024:
 
   
December 31, 2023
    

Write-off

    
Amortization
    
December 31, 2024
  
                         
Acquired technology
  
$
124,847
    
$
-
    
$
-
    
$
124,847
  
Accumulated amortization
    
(51,106
)
    
-
      
(11,657
)
    
(62,763
)
Impairment
    
(8,749
)
    
-
      
-
      
(8,749
)
Write-off due to restructuring
    
-
      
(3,384
)
    
-
      
(3,384
)
Acquired technology, net
    
64,992
      
(3,384
)
    
(11,657
)
    
49,951
  
                                 
Customer relationships
    
57,750
      
-
      
-
      
57,750
  
Accumulated amortization
    
(27,056
)
    
-
      
(2,143
)
    
(29,199
)
Impairment
    
(10,426
)
    
-
      
-
      
(10,426
)
Write-off due to restructuring
    
-
      
(1,984
)
    
-
      
(1,984
)
Customer relationships, net
    
20,268
      
(1,984
)
    
(2,143
)
    
16,141
  
                                 
Tradename and other
    
21,661
      
-
      
-
      
21,661
  
Accumulated amortization
    
(13,159
)
    
-
      
(567
)
    
(13,726
)
Impairment
    
(5,110
)
    
-
      
-
      
(5,110
)
Tradename and other, net
    
3,392
      
-
      
(567
)
    
2,825
  
                                 
Intangible assets, net
  
$
88,652
    
$
(5,368
)
  
$
(14,367
)
  
$
68,917
  
 

The following is a summary of intangible assets as of December 31, 2023:

 

   
December 31, 2022
    
Additions
    
Amortization
    
December 31, 2023
  
                         
Acquired technology
  
$
89,775
    
$
35,072
    
$
-
    
$
124,847
  
Accumulated amortization
    
(41,023
)
    
-
      
(10,083
)
    
(51,106
)
Impairment
    
(8,749
)
    
-
      
-
      
(8,749
)
Acquired technology, net
    
40,003
      
35,072
      
(10,083
)
    
64,992
  
                                 
Customer relationships
    
46,544
      
11,206
      
-
      
57,750
  
Accumulated amortization
    
(24,976
)
    
-
      
(2,080
)
    
(27,056
)
Impairment
    
(10,426
)
    
-
      
-
      
(10,426
)
Customer relationships, net
    
11,142
      
11,206
      
(2,080
)
    
20,268
  
                                 
Tradename and other
    
18,503
      
3,158
      
-
      
21,661
  
Accumulated amortization
    
(12,874
)
    
-
      
(285
)
    
(13,159
)
Impairment
    
(5,110
)
    
-
      
-
      
(5,110
)
Tradename and other, net
    
519
      
3,158
      
(285
)
    
3,392
  
                                 
Intangible assets, net
  
$
51,664
    
$
49,436
    
$
(12,448
)
  
$
88,652
 
The estimated useful life of the intangible assets are as follows:
 
     
Estimated useful life
  
Acquired technology
    
7-8 years
  
Customer relationship
    
8-15 years
  
Tradename
    
10 years
  
 
Amortization of intangible assets, net, in each of the succeeding five years and thereafter is estimated as follows:
 
2025
  
$
11,792
  
2026
    
11,742
  
2027
    
11,707
  
2028
    
10,423
  
2029
    
6,392
  
Thereafter
    
16,861
  
         
   
$
68,917