Taxes on income (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Deferred Tax Assets and Liabilities

Significant components of the deferred tax liabilities and assets are as follows:


	December 31, 2024		December 31, 2023

Deferred tax assets:
Deferred research and development cost	$	4,367	$	2,661
Employee related liabilities	5,355		3,275
Intangible assets	724		857
Goodwill	1,509		1,647
Deferred revenues	2,012		2,563
Carryforward loss	474		—
Operating lease liability	1,754		2,732
Marketable securities	—		13
Property and equipment	27		39
Capital Loss	6,753		—
Other	1,231		749
Total deferred tax assets before valuation allowance	24,206		14,536
Valuation allowance	(7,133)		—
Total deferred tax assets	17,073		14,536

Deferred tax liabilities:
Deferred costs	2,423		3,066
Intangible assets	—		337
Goodwill	1,046		445
Property and equipment	641		874
Operating lease right-of-use assets	1,654		2,652
Derivative instruments	53		119
Marketable securities	35		15
Other	149		4
Total deferred tax liabilities	6,001		7,512
Total deferred tax assets, net	$	11,072	$	7,024

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the amount that would result from applying the Company’s statutory tax rate in Israel to income before income tax expense to the reported amount of income tax expense allocated to continuing operations is as follows:


	Year Ended December 31,
	2024			2023			2022

(Loss) income before income taxes expense, as reported in the consolidated statements of operations	$	(275,984)		$	(75,563)		$	120,760
Statutory tax rate in Israel	23		%	23		%	23		%
Theoretical taxes on (loss) income	(63,476)			(17,379)			27,775
Foreign subsidiaries taxed at different tax rates	426			565			104
Preferred tax rates in Israel	31,675			9,713			(12,121)
Remeasurement of liability instruments	41,953			14,322			(14,024)
(Deductible) non-deductible expenses	(2,003)			823			400
Taxes in respect of prior years	(478)			(1,193)			103
Tax on dividend distributed from trapped earnings	—			—			(2,369)
Change in valuation allowance	(543)			—			—
Research and development tax credits	(446)			(2,087)			—
Other	(85)			773			87
Actual tax expense (income)	$	7,023		$	5,537		$	(45)

Schedule of Income before Income Tax, Domestic and Foreign

(Loss) income before income tax expense is comprised as follows:


	Year Ended December 31,
	2024		2023		2022

Domestic	$	(287,955)	$	(88,298)	$	110,187
Foreign	11,971		12,735		10,573
	$	(275,984)	$	(75,563)	$	120,760

Schedule of Components of Income Tax Expense (Benefit)

Tax expense (income) allocated to continuing operations is comprised as follows:


	Year Ended December 31,
	2024		2023		2022

Current:
Domestic	$	10,011	$	3,010	$	(2,573)
Foreign	588		(2,876)		4,920
Total current tax expense:	10,599		134		2,347

Deferred:
Domestic	(3,159)		1,596		(85)
Foreign	(417)		3,807		(2,307)
Total deferred tax (expenses) benefit	(3,576)		5,403		(2,392)
Total tax expense (income)	$	7,023	$	5,537	$	(45)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending balances of the total amounts of unrecognized tax benefits is as follows:


	December 31, 2024		December 31, 2023

Unrecognized tax benefits, beginning of year	$	3,529	$	3,073
Decreases in tax positions for prior years	(1,201)		(436)
Increases in tax positions for current year	1,081		892
Unrecognized tax benefits, end of year	$	3,409	$	3,529