0001178913-24-000839 | 20-F | XBRL Viewer

Number of wholly owned subsidiaries

Taptica Inc

Taptica Inc

The Group’s ownership interest in the subsidiary for the year ended December 31

USA

100.00%

Tremor Video Inc

Tremor Video Inc

The Group’s ownership interest in the subsidiary for the year ended December 31

USA

100.00%

Adinnovation Inc

Adinnovation Inc

The Group’s ownership interest in the subsidiary for the year ended December 31

Japan

0.00%

100.00%

Taptica UK

Taptica UK

The Group’s ownership interest in the subsidiary for the year ended December 31

100.00%

YuMe Inc

^[1]

YuMe Inc

The Group’s ownership interest in the subsidiary for the year ended December 31

^[2]

USA

^[2]

100.00%

Perk.com Canada Inc

Perk.com Canada Inc

The Group’s ownership interest in the subsidiary for the year ended December 31

Canada

100.00%

R1Demand LLC

^[1]

R1Demand LLC

The Group’s ownership interest in the subsidiary for the year ended December 31

^[2]

USA

^[2]

100.00%

Nexxen Group LLC (f/k/a Unruly Group LLC)

Nexxen Group LLC (f/k/a Unruly Group LLC)

The Group’s ownership interest in the subsidiary for the year ended December 31

USA

100.00%

Nexxen Group US Holdings Inc. (f/k/a Unruly Group US Holding Inc)

^[1]

Nexxen Group US Holdings Inc. (f/k/a Unruly Group US Holding Inc)

The Group’s ownership interest in the subsidiary for the year ended December 31

^[2]

USA

^[2]

100.00%

Nexxen Holdings Ltd (f/k/a Unruly Holdings Limited)

^[1]

Nexxen Holdings Ltd (f/k/a Unruly Holdings Limited)

The Group’s ownership interest in the subsidiary for the year ended December 31

^[2]

^[2]

100.00%

Nexxen Group Ltd (f/k/a Unruly Group Limited)

^[1]

Nexxen Group Ltd (f/k/a Unruly Group Limited)

The Group’s ownership interest in the subsidiary for the year ended December 31

^[2]

^[2]

100.00%

Unruly Media GmbH

Unruly Media GmbH

The Group’s ownership interest in the subsidiary for the year ended December 31

Germany

100.00%

Unruly Media Pte Ltd

^[1]

Unruly Media Pte Ltd

The Group’s ownership interest in the subsidiary for the year ended December 31

^[2]

Singapore

^[2]

100.00%

Nexxen Pty Ltd (f/k/a Unruly Media Pty Ltd)

Nexxen Pty Ltd (f/k/a Unruly Media Pty Ltd)

The Group’s ownership interest in the subsidiary for the year ended December 31

Australia

100.00%

Unruly Media KK

Unruly Media KK

The Group’s ownership interest in the subsidiary for the year ended December 31

Japan

100.00%

Unmedia Video Distribution Sdn Bhd

Unmedia Video Distribution Sdn Bhd

The Group’s ownership interest in the subsidiary for the year ended December 31

Malaysia

100.00%

SpearAd GmbH

SpearAd GmbH

The Group’s ownership interest in the subsidiary for the year ended December 31

Germany

100.00%

Nexxen Inc. (f/k/a Amobee Inc)

^[1]

Nexxen Inc. (f/k/a Amobee Inc)

The Group’s ownership interest in the subsidiary for the year ended December 31

^[2]

USA

^[2]

100.00%

Amobee EMEA Limited

Amobee EMEA Limited

The Group’s ownership interest in the subsidiary for the year ended December 31

100.00%

Amobee International Inc

Amobee International Inc

The Group’s ownership interest in the subsidiary for the year ended December 31

USA

100.00%

Amobee Ltd

Amobee Ltd

The Group’s ownership interest in the subsidiary for the year ended December 31

Israel

100.00%

Amobee Asia Pte Ltd

^[1]

Amobee Asia Pte Ltd

The Group’s ownership interest in the subsidiary for the year ended December 31

^[2]

Singapore

^[2]

100.00%

Amobee ANZ Pty Ltd

Amobee ANZ Pty Ltd

The Group’s ownership interest in the subsidiary for the year ended December 31

Australia

100.00%

[1]	Under these companies, there are twenty-seven (27) wholly owned subsidiaries that are inactive and in liquidation process.
[2]	Under these companies, there are seventeen (17) wholly owned subsidiaries that are inactive and in liquidation process.

REVENUES (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure Of Revenue [Abstract]

Disclosure of revenue

	Year ended December 31
	2023		2022		2021
	USD thousands

Programmatic		299,005		274,355		266,616
Performance		32,988		60,895		75,329

		331,993		335,250		341,945

LEASES (Details 2) - USD ($) $ in Thousands	12 Months Ended
LEASES (Details 2) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Lease [Abstract]
Interest expenses on lease liability	$ (1,885)	$ (587)	$ (570)
Depreciation and amortization of right-of-use assets	(15,001)	(9,226)	(6,334)
Gain (loss) recognized in profit or loss	(119)	(74)	7
Total	$ (17,005)	$ (9,887)	$ (6,897)

FIXED ASSETS, NET (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about property, plant and equipment [abstract]
Purchase of fixed assets that has not yet paid	$ 2,030	$ 1,900

INCOME TAX (Details 2) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Disclosure Of Income Tax [Line Items]

Profit (Loss) before taxes on income

$ (18,984)

$ 42,425

$ 72,275

Tax calculated according to the Company’s primary tax rate

(4,366)

9,758

16,623

Additional tax (tax saving) in respect of:

Non-deductible expenses net of tax exempt income

^[1]

3,329

11,642

(3,364)

Difference between measurement basis of income/expenses for tax purposes and measurement basis of income/expenses for financial reporting purposes

(654)

Effect of reduced tax rate on preferred loss (income)

4,963

(4,625)

(7,226)

Utilization of tax losses from prior years for which deferred taxes were not created

(90)

(2,539)

(1,117)

Effect on deferred taxes at a rate different from the primary tax rate

892

2,697

(3,329)

Recognition of deferred taxes for tax losses and benefits from previous years for which deferred taxes were not created in the past

(4,852)

(1,104)

(4,586)

Recognition in temporary differences for which deferred taxes are not recognized

656

Foreign tax rate differential

1,971

4,478

2,051

Tax expenses (benefit)

$ 2,503

$ 19,688

$ (948)

Effective income tax rate

13.00%

(46.00%)

(1.00%)

Israel

Disclosure Of Income Tax [Line Items]

Primary tax rate of the Company

23.00%

Additional tax (tax saving) in respect of:

Tax expenses (benefit)

$ (5,352)

$ 5,766

$ 4,995

[1]	including non- deductible share-based compensation expenses.

CASH AND CASH EQUIVALENTS

12 Months Ended

Dec. 31, 2023

Cash and cash equivalents [abstract]

CASH AND CASH EQUIVALENTS

NOTE 10:

CASH AND CASH EQUIVALENTS

	December 31
	2023		2022
	USD thousands

Cash		105,997		173,568
Bank deposits		128,311		43,932

Cash and cash equivalents		234,308		217,500

The majority of cash and cash equivalents bear interest of 3% to 5.5%.

The Group’s exposure to credit, and currency risks are disclosed in Note 18 on financial instruments.

RELATED PARTIES (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of transactions between related parties [abstract]

Disclosure of detailed information about key management personnel

	Year ended December 31
	2023		2022		2021
	USD thousands

Share-based compensation		11,527		30,914		31,283
Other compensation and benefits		3,988		4,433		6,752

Total		15,515		35,347		38,035

SHARE-BASED COMPENSATION ARRANGEMENTS

12 Months Ended

Dec. 31, 2023

Disclosure of terms and conditions of share-based payment arrangement [abstract]

SHARE-BASED COMPENSATION ARRANGEMENTS

NOTE 17:

SHARE-BASED COMPENSATION ARRANGEMENTS

Share-based compensation plan:

The terms and conditions related to the grants of the share options programs are as follows:

•

All the share options that were granted are non-marketable.

•

All options are to be settled by physical delivery of ordinary shares or ADSs.

•

Vesting conditions are based on a service period of between 0.5-4 years.

Stock Options:

The number of share options is as follows:

	Number of options						Weighted average exercise price
	2023			2022			2023		2022
	(Thousands)						(USD)

Outstanding of 1 January		4,772			6,026			7.31		6.54
Forfeited during the year		(721	)		(828	)		6.33		7.61
Exercised during the year		(346	)		(1,046	)		0.67		1.96
Granted during the year		-			620			-		7.22

Outstanding of December 31		3,705			4,772			7.91		7.31
Exercisable of December 31		2,086			1,814

The total expense recognized in the year ended December 31, 2023, with respect to the options granted to employees, amounted to approximately USD 2,429 thousand (2022: USD 5,867 thousand).

Restricted Share Units:

During 2023 and 2022, the Group granted 352,800 and 777,448 Restricted Share Units (RSUs) to its executive officers and employees, respectively.

The number of restricted share units is as follows:

	Number of RSU’s						Weighted-Average Grant Date Fair Value
	2023			2022			2023		2022
	(Thousands)

Outstanding at 1 January		5,288			8,146			8.277		8.606
Forfeited during the year		(254	)		(261	)		6.275		9.948
Exercised during the year		(3,295	)		(3,374	)		8.208		8.091
Granted during the year		353			777			2.160		4.596

Outstanding at December 31		2,092			5,288			7.601		8.277

The total expense recognized in the year ended December 31, 2023, with respect to the RSUs granted to employees, amounted to approximately USD 13,356 thousand (2022: USD 31,923 thousand).

Performance Stock Units:

During 2023 and 2022, the Group granted 143,700 and 168,048 Performance Stock Units (PSUs) to its executive officers, respectively.

The number of performance stock units is as follows:

	Number of PSU’s						Weighted-Average Grant Date Fair Value
	2023			2022			2023		2022
	(Thousands)

Outstanding at January 1		1,992			4,486			8.937		6.796
Forfeited during the year		(254	)		(80	)		6.328		9.952
Exercised during the year		(930	)		(2,582	)		9.320		4.891
Granted during the year		144			168			2.160		4.453

Outstanding at December 31		952			1,992			8.238		8.937

The vesting of the PSUs is subject to continuous employment and compliance with the performance criteria determined by the Company’s Remuneration Committee and the Company’s Board of Directors.

The total expense recognized in the year ended December 31, 2023, with respect to the PSUs granted to employees, amounted to approximately USD 3,384 thousand (2022: USD 12,715 thousand).

Expense recognized in the statement of operation and other comprehensive income is as follows:

	Year ended December 31
	2023		2022		2021
	USD thousands

Selling and marketing		3,740		10,594		7,094
Research and development		3,308		8,034		3,474
General and administrative		12,121		31,877		32,250

		19,169		50,505		42,818

MATERIAL ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2023

Disclosure Of Significant Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

NOTE 3:

MATERIAL ACCOUNTING POLICIES

The accounting policies set out below have been applied consistently for all periods presented in these consolidated financial statements and have been applied consistently by the Group.

Financial instruments:

Non-derivative financial assets

The Company’s non-derivative financial assets, which are measured at amortized cost, mainly consist of accounts receivable which are held to collect and deposits. Accounts receivable represent amounts owed by customers resulting from business transactions, and they are recognized at their original invoiced values, adjusted for expected credit losses. Loss rates are based on historical collection experience, while taking into consideration current customer information, collection history, and other relevant data at each reporting period.

The Company’s non-derivative financial assets, which are measured at fair value through profit and loss, consist of investment in shares. Net gains and losses are recognized in profit or loss, finance income/expenses.

Non-derivative financial liabilities

The Company’s non-derivative financial liabilities mainly include trade and other payables, and loan, all measured at amortized cost.

Treasury shares:

When share capital recognized as equity is repurchased by the Group, the amount of the consideration paid, which includes directly attributable costs, net of any tax effects, is recognized as a deduction from equity. Repurchased shares are classified as a deduction in Share Premium.

Fixed Assets:

Fixed assets are measured at cost less accumulated depreciation. The cost of fixed assets includes expenditure that is directly attributable to the acquisition of the asset. Depreciation is provided on all property and equipment at rates calculated to write each asset down to its residual value (assumed to be nil), using the straight-line method, over its expected useful life as follows:

	Years
Computers and servers	3-5
Office furniture and equipment	3-17
Leasehold improvements	The shorter of the lease term and the useful life

Intangible assets and liabilities:

Software development:

Expenditure on research activities, undertaken with the prospect of gaining new scientific or technical knowledge and understanding, is recognized in profit or loss when incurred.

Development activities involve a plan or design for the production of new or substantially improved products and processes. Development expenditure is capitalized only if development costs can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable, and the Group has the intention and sufficient resources to complete development and to use or sell the asset. The expenditure capitalized in respect of development activities includes the cost of direct labor costs that are directly attributable to preparing the asset for its intended use. Other development expenditure is recognized in profit or loss as incurred.

The estimated useful lives of developed software are three years.

Goodwill:

The Group has identified its entire operation as a single cash generating unit (CGU). The Company conducts an annual assessment of goodwill impairment on an annual basis, at year end. According to management assessment as of December 31, 2023, no impairment in respect to goodwill has been recorded. See note 7.

Amortization:

Internally generated intangible assets, such as software development costs, are not systematically amortized as long as they are not available for use, i.e., they are not yet on site or in working condition for their intended use. Goodwill is not systematically amortized as well but is tested for impairment at least once a year.

Amortization is recognized in the statements of operation and other comprehensive income (loss) on a straight-line basis over the estimated useful lives of the intangible assets from the date they are available for use.

The estimated useful lives for the current and comparative periods are as follows:

Trademark	Fully depreciated, See note 7
Software (developed and acquired)	3 years
Customer relationships	3-6 years
Technology	3-5.25 years

Unfavorable contracts

In the business combinations of Nexxen Inc., the Company recognizes a liability for contracts when their terms are unfavorable compared to market terms, to represent the off-market element at the acquisition date. As of December 31, 2023, the aggregated liability balance, in the amount of USD 6.7 million, is entirely classified as long-term.

Share Based Compensation:

Compensation expense related to stock options, restricted stock units and performance stock units. The Group’s employee stock purchase plan is measured and recognized in the consolidated financial statements based on the fair value of the awards granted. The fair value of each option award is estimated on the grant date using the Black-Scholes option-pricing model. Stock-based compensation expense related to stock options and restricted stock is recognized over the requisite service periods of the awards.

Determining the fair value of stock options awards requires judgment. The Company’s use of the Black-Scholes option pricing model requires the input of subjective assumptions. The assumptions used in the Company’s option-pricing model represent management’s best estimates. These estimates involve inherent uncertainties and the application of management’s judgment.

These assumptions and estimates are as follows:

Risk-Free Interest Rate. The risk-free interest rate is based on the yields of U.S. Treasury securities with maturities approximating the expected term of the awards.

Expected Term. The expected term of an award is calculated based on the vesting date and the expiration date of the award.

Volatility. The Company determined the price volatility based on daily price observations over a period equivalent to the expected term of the award.

Dividend Yield. The dividend yield assumption is based on the Company’s history and current expectations of dividend payouts.

Fair Value of Common Stock. The fair value of common stock is based on the closing price of the Company's common stock on the grant date.

Employee benefits:

Post-employment benefits:

The Group’s main post-employment benefit plan is under section 14 to the Severance Pay Law ("Section 14") for the Israeli employees and under section 401K for US employees, which is accounted for as a contribution plan. In addition, for certain employees, the Group has an additional immaterial plan that is accounted for as a defined benefit plan. These plans are usually financed by deposits with insurance companies or with funds managed by a trustee.

Short-term benefits:

Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided or upon the actual absence of the employee when the benefit is not accumulated (such as maternity leave).

A liability is recognized for the amount expected to be paid under short-term cash bonus or profit-sharing plans if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee and the obligation can be estimated reliably. The employee benefits are classified, for measurement purposes, as short-term benefits or as other long-term benefits depending on when the Group expects the benefits to be wholly settled.

Revenue recognition:

The Group generates revenue from transactions where it provides access to a platform for the purchase and sale of digital advertising inventory. Its customers are both ad buyers, including brands and agencies, and digital publishers.

The Group generates revenue through platform fees that are tailored to fit the customer’s specific utilization of its solutions and include: (i) a percentage of spend, (ii) flat fees and (iii) fixed costs per mile (“CPM”). CPM refers to a payment option in which customers pay a price for every 1,000 impressions an advertisement receives.

The Company maintains agreements with each publisher and buyer in the form of written service agreements, which set out the terms of the relationship, including payment terms and access to the Group’s platforms.

Publishers provide digital advertising inventory to the Group’s platform in the form of advertising requests, or ad request. When the Group receives ad requests from a publisher, it send bid requests to buyers, which enable buyers to bid on sellers’ digital advertising inventory according to a predefined set of parameters (e.g., demographics, intent, location, etc.). Winning bids create advertising, or paid impressions, for the publisher to present to the buyers.

The Group generates revenue from its Programmatic and Performance activities. Programmatic revenue is derived from the end-to-end platform of programmatic advertising, which uses software and algorithms to match buyers and sellers of digital advertising in a technology-driven marketplace. Performance revenue is derived from non-core activities, consisting of mobile-based activities that help brands reach their users.

The Company concluded that its Programmatic activity (i) does not have manual control over the process, (ii) the Company is not primarily responsible for fulfillment, (iii) the Company has no inventory risk and (iv) the Company obtains only momentary a title to the advertising space offered via the end-to-end platform.

As a result, the Group reports its Programmatic business, tech stack, features, business models and activity as an agent and therefore presented revenue from Programmatic on a net basis.

For the Performance activity the Company is the primary obligor to provide the services and, as such, revenue is presented on a gross basis.

Management is focused on driving growth with the Programmatic activity through the end-to-end platform, while the Performance activity is declining over time.

The Group estimates and records reduction to revenue for volume discounts based on expected volume during the incentive term.

The Group generally invoices buyers at the end of each month for the full purchase price of ad impressions monetized in that month. Accounts receivables are recorded at the amount of gross billings for the amount it is responsible to collect and accounts payable are recorded at the net amount payable to publishers. Accordingly, both accounts receivable and accounts payable appear large in relation to revenue reported on a net basis.

Classification of expenses

Cost of revenue

Cost of revenues (exclusive of depreciation and amortization) primarily consists of hosting fees and data costs for both Programmatic and Performance activities, as well as media costs for Performance activities that are directly attributable to revenue generated by the Company and generally based on the revenue share arrangements with audience and content partners. See Note 13.

Research and development

Research and development expenses consist primarily of compensation and related costs for personnel responsible for the research and development of new and existing products and services. Where required, development expenditures are capitalized in accordance with the Company's standard internal capitalized development policy in accordance with IAS 38 (also see Note 3c(1)). All research costs are expensed when incurred.

Selling and marketing

Selling and marketing expenses consist primarily of compensation and related costs for personnel engaged in customer service, sales, and sales support functions, as well as advertising and promotional expenditures.

General and administrative

General and administrative expenses consist primarily of compensation and related costs for personnel, and include costs related to the Company’s facilities, finance, human resources, information technology, legal organizations and fees for professional services. Professional services are principally comprised of external legal, and information technology consulting and outsourcing services that are not directly related to other operational expenses.

Financing income and expenses:

Generally, foreign currency differences from a monetary item receivable from or payable to a foreign operation, including foreign operations that are subsidiaries, are recognized in profit or loss in the consolidated financial statements.

Foreign exchange gains and losses arising from a monetary item receivable from or payable to a foreign operation, the settlement of which is neither planned nor likely in the foreseeable future, are considered to form part of a net investment in a foreign operation and are recognized in other comprehensive income (loss), and are presented within equity as part of the currency translation reserve.

Financing income mainly comprises foreign currency gains and interest income.

Financing expense primarily includes exchange rate differences, interest and bank fees.

Foreign currency gains and losses on financial assets and financial liabilities are reported on a net basis as either financing income or financing expenses depending on whether foreign currency movements are in a net gain or net loss position.

Taxes on income

The Company operates in multiple tax jurisdictions.

Offset of deferred tax assets and liabilities

Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority.

Uncertain tax positions

A provision for uncertain tax positions, including additional tax and interest expenses, is recognized when it is more likely than not that the Group will have to use its economic resources to pay the obligation.

Leases:

Leased assets and lease liabilities

Contracts that award the Group control over the use of a leased asset for a period of time in exchange for consideration, are accounted for as leases. Upon initial recognition, the Group recognizes a liability at the present value of the balance of future lease payments (these payments do not include certain variable lease payments), and concurrently recognizes a right-of-use asset at the same amount of the lease liability, adjusted for any prepaid or accrued lease payments or provision for impairment, plus initial direct costs incurred in respect of the lease.

Since the interest rate implicit in the Group's leases is not readily determinable, the incremental borrowing rate of the lessee is used. Subsequent to initial recognition, the right-of-use asset is accounted for using the cost model and depreciated over the shorter of the lease term or useful life of the asset.

Variable lease payments

Variable lease payments that depend on an index or a rate, are initially measured using the index or rate existing at the commencement of the lease and are included in the measurement of the lease liability. When the cash flows of future lease payments change as the result of a change in an index or a rate, the balance of the liability is adjusted against the right-of-use asset.

Depreciation of right-of-use asset

After lease commencement, a right-of-use asset is measured on a cost basis less accumulated depreciation and accumulated impairment losses and is adjusted for re-measurements of the lease liability. Depreciation is calculated on a straight-line basis over the useful life or contractual lease period, whichever earlier, as follows:

	☐	Buildings	1-8.5 years
	☐	Data centers	1-5.5 years

Initial application of new standards, amendments to standards and interpretations

Amendment to IAS 1, Presentation of Financial Statements: "Disclosure of Accounting Policies.

As a result of applying the Amendment, the extent of the accounting policy disclosure provided in the financial statements for 2023 was reduced and adjusted according to the Company’s specific circumstances.

New standards, amendments to standards and interpretations not yet adopted:

Amendment to IAS 1, Presentation of Financial Statements: Classification of Liabilities as Current or Non-Current and subsequent amendment: Non-Current Liabilities with Covenants.

The Group is examining the effects of the Amendment on the financial statements with no plans for early adoption.

INCOME TAX (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAX (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Income Tax [Abstract]
Current tax expense (income), Current year	$ (2,331)	$ 14,378	$ 7,220
Deferred tax expense (income), Creation and reversal of temporary differences	4,834	5,310	(8,168)
Tax expenses (benefit)	$ 2,503	$ 19,688	$ (948)

Trade and other current receivables [abstract]

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

TRADE AND OTHER RECEIVABLES (Table)

12 Months Ended

Dec. 31, 2023

Disclosure of trade and other receivables

	December 31
	2023			2022
	USD thousands

Trade receivables:
Trade receivables		219,396			229,975
Allowance for expected credit losses		(17,423	)		(10,138	)

Trade receivables, net		201,973			219,837

Other receivables:
Prepaid expenses		4,988			14,425
Loan to a third party		104			-
Institutions		1,309			1,281
Pledged deposits		1,569			3,036
Acquisition consideration adjustment		-			4,673
Other		323			-

		8,293			23,415

LONG-TERM DEBT (Detail Textuals) - Amobee Group Pte Ltd - US Holding Inc. - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2023
Other Long Term Liabilities [Line Items]
Secured term loan	$ 90,000
Revolving credit facility	90,000
Proceeds of revolving credit facility	$ 10,000
Interest expenses		$ 6,854
Interest paid		$ 6,601

INCOME TAX

12 Months Ended

Dec. 31, 2023

Disclosure Of Income Tax [Abstract]

INCOME TAX

NOTE 4:

INCOME TAX

Details regarding the tax environment of the Israeli companies:

Corporate tax rate

Taxable income of the Israeli companies is subject to the Israeli corporate tax at the rate of 23% in the years 2023, 2022 and 2021.

Benefits under the Law for the Encouragement of Capital Investments (Investment Law)

The Investment Law provides tax benefits for Israeli companies meeting certain requirements and criteria. According to the Investment Law, a flat rate tax applies to companies eligible for the “Preferred Enterprise” status. In order to be eligible for Preferred Enterprise status, a company must meet minimum requirements to establish that it contributes to the country’s economic growth and is a competitive factor for the gross domestic product.

The Investment Law also added a new tax benefit tracks effective January 1, 2017 for a “preferred technological enterprise” and a “special preferred technological enterprise” that awards reduced tax rates to a technological industrial enterprise for the purpose of encouraging activity relating to the development of qualifying intangible assets.

Preferred technological income that meets the conditions required in the law, will be subject to a reduced corporate tax rate of 12%, and if the preferred technological enterprise is located in Development Area A to a tax rate of 7.5%.

The Investment Law also provides that no tax will apply to a dividend distributed out of preferred income to a shareholder that is an Israeli resident company. A tax rate of 20% shall apply to a dividend distributed out of preferred income and preferred technological income, to an individual shareholder or foreign resident, subject to double taxation prevention treaties.

On May 16, 2017, the Knesset Finance Committee approved Encouragement of Capital Investment Regulations (Preferred Technological Income and Capital Gain of Technological Enterprise) – 2017 (hereinafter: “the Regulations”), which provides rules for applying the “preferred technological enterprise” and “special preferred technological enterprise” tax benefit tracks including the Nexus formula that provides the mechanism for allocating the technological income eligible for the benefits.

The Company obtained tax rulings confirming that the Company is eligible for the benefits under the Investment Law. The tax rulings which were obtained applied for the years 2017-2021. The Company approached the Israeli Tax Authority on December 28, 2023, for the renewal of the tax ruling, regarding industrial enterprise and preferred technological enterprise, for the next five years beginning in 2022. The tax ruling has not been accepted yet.

Details regarding the tax environment of the non-Israeli companies:

Non-Israeli subsidiaries are taxed according to the tax laws in their countries of residence as reported in their statutory financial statement prepared under local accounting regulations.

Carry forward losses

(1)

Israel

As of December 31, 2023, the net operating loss carryforwards, or NOLs are approximately USD 20.4 million (2022: nil), and the Capital Loss to carry forward is approximately USD 3 million (2022: USD 0.1 million). The losses carryforward do not expire under Israeli tax laws.

(2)

The Group submit a US federal consolidated tax return.

Provisions enacted in the Tax Cuts and Jobs Act in 2017 related to the capitalization for tax purposes of research and experimental expenditures (“R&E”) became effective on January 1, 2022. These new R&E provisions require us to capitalize certain research and experimental expenditures and amortize them on the U.S. tax return over five or fifteen years, depending on where these costs are conducted. The tax expense in the U.S. would increase as a result, unless these provisions are modified through legislative processes in the future. The Company applies the new enacted act in the current year tax provision and the deferred tax asset.

The Group has several U.S. federal NOLs, following previous acquisitions:

Approximately USD 100.8 million, which will expire starting 2038. As of December 31, 2023, the NOLs are approximately USD 56.7 million (2022: USD 65.7 million).

	2.	Approximately USD 315 million which can be utilized over the next 52 years.
		As of December 31, 2023, the NOLs are approximately USD 307.2 million (2022: USD 315 million).

In addition, the Group has USD 0.5 million NOLs from previous years.

In addition, the Capital Loss to carry forward is approximately USD 27.7 million (2022: nil). Capital losses can be carried back for three years, and forward for five years.

Additionally, for tax years beginning after December 31, 2017, the Tax Cuts and Jobs Act limits the NOL deduction to 80% of taxable income, repeals carryback of all NOLs arising in a tax year ending after 2017 and permits indefinite carryforwards for all such NOLs. NOL’s arising in a tax year ending on or before 2017 can offset 100% of taxable income, are available for carryback, and expire 20 years after they arise. It should be noted that the Coronavirus Aid, Relief and Economic Security (“CARES”) Act suspended the 80% limitation for tax years 2018, 2019 and 2020 and allowed for a 5-year carryback for NOLs for tax years beginning after December 31, 2017, and before January 1, 2021.

Pursuant to Section 382 of the Internal Revenue Code, the acquired companies in the US underwent ownership changes for tax purposes (i.e., a change of more than 50% in stock ownership involving 5% shareholders) on the acquisition date. As a result, the use of the Company’s total US NOL carryforwards and tax credits generated prior to the ownership change is subject to annual use limitations under Section 382 and potentially also under section 383 of the Code and comparable state income tax laws.

(3)

International

As of December 31, 2023, the NOLs are approximately USD 19.2 million (2022: USD 22.3 million).

In addition, the Capital Loss to carry forward is approximately USD 0.9 million (2022: nil). The ability to carry losses forward (or backwards) depends on the specific jurisdiction which the Company operates in.

Composition of income tax benefit:

	Year ended December 31
	2023			2022		2021
	USD thousands

Current tax expense (income)
Current year		(2,331	)		14,378		7,220

Deferred tax expense (income)
Creation and reversal of temporary differences		4,834			5,310		(8,168	)

Tax expenses (benefit)		2,503			19,688		(948	)

The following are the domestic and foreign components of the Group’s income taxes:

	Year ended December 31
	2023			2022		2021
	USD thousands

Domestic		(5,352	)		5,766		4,995
US		8,712			11,578		(961	)
International		(857	)		2,344		(4,982	)

Tax expenses (benefit)		2,503			19,688		(948	)

Reconciliation between the theoretical tax on the pre-tax profit and the tax expense:

	Year ended December 31
	2023			2022			2021
	USD thousands

Profit (Loss) before taxes on income		(18,984	)		42,425			72,275

Primary tax rate of the Company		23	%		23	%		23	%

Tax calculated according to the Company’s primary tax rate		(4,366	)		9,758			16,623

Additional tax (tax saving) in respect of:
Non-deductible expenses net of tax exempt income (*)		3,329			11,642			(3,364	)
Difference between measurement basis of income/expenses for tax purposes and measurement basis of income/expenses for financial reporting purposes		-			(654	)		-
Effect of reduced tax rate on preferred loss (income)		4,963			(4,625	)		(7,226	)
Utilization of tax losses from prior years for which deferred taxes were not created		(90	)		(2,539	)		(1,117	)
Effect on deferred taxes at a rate different from the primary tax rate		892			2,697			(3,329	)
Recognition of deferred taxes for tax losses and benefits from previous years for which deferred taxes were not created in the past		(4,852	)		(1,104	)		(4,586	)
Recognition in temporary differences for which deferred taxes are not recognized		656			35			-
Foreign tax rate differential		1,971			4,478			2,051

Tax (benefit) expenses		2,503			19,688			(948	)

Effective income tax rate		(13	)%		46	%		(1	)%

(*)

including non- deductible share-based compensation expenses.

Deferred tax assets and liabilities:

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities are presented below:

	Intangible Assets and R&D expenses			Employees Compensation			Carryforward Losses			Accrued Expenses			Doubtful Debt			Other			Total
	USD thousands
Balance of deferred tax asset (liability) as of January 1, 2022		(5,587	)		12,074			9,835			2,939			3,099			676			23,036
Business combination		(11,313	)		1,502			7,857			1,322			973			2,158			2,499
Changes recognized in profit or Loss		5,019			(2,927	)		(2,486	)		(2,590	)		(1,332	)		(1,249	)		(5,565	)
Effect of change in tax rate		-			14			237			-			-			4			255
Changes recognized in equity		187			(3,417	)		(24	)		22			11			(5	)		(3,226	)
Balance of deferred tax asset (liability) as of December 31, 2022		(11,694	)		7,246			15,419			1,693			2,751			1,584			16,999


Discontinuance of Consolidation	168		(57	)	-	(532	)	(99	)	(1	)	(521	)
Changes recognized in profit or Loss	(524	)	(3,837	)	411	(960	)	643		(597	)	(4,864	)
Effect of change in tax rate	-		30		-	-		-		-		30
Changes recognized in equity	(79	)	(34	)	102	6		-		-		(5	)
Balance of deferred tax asset (liability) as of December 31, 2023	(12,129	)	3,348		15,932	207		3,295		986		11,639

As of each reporting date, the Company’s management considers new evidence, both positive and negative, that could impact management’s view with regard to future realization of deferred tax assets.

Uncertain tax positions:

As of December 31, 2023, and 2022, the Company has gross unrecognized tax benefits of approximately USD 6,383 thousand and USD 7,188 thousand, respectively. The Company classifies liabilities for unrecognized tax benefits in current tax.

Tax assessment:

The Company considers tax year 2018 and 2019 for Israel and the US federal group, respectively as closed for tax assessment.

CONTINGENT LIABILITY (Detail Textuals)	1 Months Ended
CONTINGENT LIABILITY (Detail Textuals)	Mar. 31, 2023
Alphonso Inc [Member]
Disclosure of contingent liabilities [line items]
Explanation of reimbursement	Alphonso remitted USD 11.3 million to the Company, comprising USD 7.25 million related to a secured advance repayment and USD 4.1 million related to additional interest, penalties and fees including reimbursement of certain legal fees.

LEASES

12 Months Ended

Dec. 31, 2023

Disclosure Of Lease [Abstract]

LEASES

NOTE 6:

LEASES

Leases in which the Group is the lessee:

The Group applies IFRS 16, Leases. The Group has lease agreements with respect to the following items:

Offices;

Data center;

Information regarding material lease agreements:

The Group leases Offices mainly in the United States of America (US), Israel, Canada and UK with contractual original lease periods ends between the years 2024 and 2028 from several lessors.

A lease liability in the amount of USD 21,381 thousand and USD 18,513 thousand as of December 31, 2023, and December 31, 2022, respectively, and right-of-use asset in the amount of USD 11,027 thousand and USD 7,753 thousand as of December 31, 2023, and December 31, 2022, respectively have been recognized in the statement of financial position in respect of leases of offices.

The Group leases data center and related network infrastructure with contractual original lease periods ends between the years 2024 and 2028. The Group did not assume renewals in determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement.

A lease liability in the amount of USD 15,680 thousand and USD 10,825 thousand as of December 31, 2023, and December 31, 2022, respectively, and right-of-use asset in the amount of USD 14,888 thousand and USD 10,520 thousand as of December 31, 2023, and December 31, 2022, respectively have been recognized in the statement of financial position in respect of data centers.

Lease liability:

Maturity analysis of the Group's lease liabilities:

	December 31
	2023		2022
	USD thousands

Less than one year (0-1)		12,106		14,104
One to five years (1-5)		24,955		15,234

Total		37,061		29,338

Current maturities of lease liability		12,106		14,104

Long-term lease liability		24,955		15,234

Right-of-use assets - Composition:

	Offices			Data center			Total
	USD thousands

Balance as of January 1, 2022		5,424			2,849			8,273

Business Combinations		6,103			10,633			16,736
Depreciation and amortization on right-of-use assets		(4,533	)		(4,693	)		(9,226	)
Additions		1,113			1,783			2,896
Lease modifications		(74	)		-			(74	)
Disposals		(205	)		(52	)		(257	)
Exchange rate differences		(75	)		-			(75	)

Balance as of December 31, 2022		7,753			10,520			18,273

Discontinuance of consolidation		(64	)		-			(64	)
Depreciation and amortization on right-of-use assets		(4,422	)		(10,579	)		(15,001	)
Net additions		7,871			14,969			22,840
Lease modifications		20			-			20
Disposals		(119	)		(22	)		(141	)
Exchange rate differences		(12	)		-			(12	)

Balance as of December 31, 2023		11,027			14,888			25,915

Amounts recognized in statement of operation:

	Year ended December 31
	2023			2022			2021
	USD thousands

Interest expenses on lease liability		(1,885	)		(587	)		(570	)
Depreciation and amortization of right-of-use assets		(15,001	)		(9,226	)		(6,334	)
Gain (loss) recognized in profit or loss		(119	)		(74	)		7

Total		(17,005	)		(9,887	)		(6,897	)

Amounts recognized in the statement of cash flows:

	Year ended December 31
	2023			2022			2021
	USD thousands

Cash outflow for leases		(19,147	)		(12,605	)		(10,579	)

Leases in which the Group is a lessor:

Information regarding material lease agreements:

The Group subleases offices at the US for periods expiring in 2027.

Net investment in the lease:

Presented hereunder is the movement in the net investment in the lease:

	Offices
	Year ended December 31
	2023			2022
	USD thousands

Balance as of January 1,		4,849			5,682

Sublease receipts		(1,112	)		(1,306	)
Additions		2,248			310
Business combinations		-			163

Balance as of December 31,		5,985			4,849

Maturity analysis of net investment in finance leases:

	Year ended December 31
	2023		2022
	USD thousands

Less than one year (0-1)		1,772		1,084
One to five years (1-5)		4,213		3,765

Total net investment in the lease as of December 31,		5,985		4,849

Amounts recognized in statement of operation:

	Offices
	Year ended December 31
	2023		2022		2021
	USD thousands

Gain from finance subleases		-		-		301
Financing income on the net investment in the lease		221		199		245

Total		221		199		546

OPERATING SEGMENTS

12 Months Ended

Dec. 31, 2023

Disclosure of operating segments [abstract]

OPERATING SEGMENTS

NOTE 21:

OPERATING SEGMENTS

The Group has a single reportable segment as a provider of marketing services.

Geographical information

In presenting information on the basis of geographical segments, segment revenue is based on the geographical location of consumers.

	Year ended December 31
	2023		2022		2021
	USD thousands

America		311,780		303,106		304,686
APAC		6,537		20,031		20,931
EMEA		13,676		12,113		16,328

Total		331,993		335,250		341,945

INTANGIBLE ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about intangible assets [abstract]

Disclosure of reconciliation of changes in intangible assets and goodwill

	Software			Trademarks			Customer relationships			Technology			Goodwill			Total
	USD thousands
Cost
Balance as of January 1, 2022		24,687			36,367			50,108			53,192			156,712			321,066
Exchange rate differences		(50	)		(1,262	)		(1,455	)		(548	)		(3,216	)		(6,531	)
Additions		8,750			-			-			-			-			8,750
Disposals		(1,199	)		(19,570	)		(2,393	)		(4,851	)		-			(28,013	)
Business combinations		-			7,654			29,169			85,684			92,244			214,751
Balance as of December 31, 2022		32,188			23,189			75,429			133,477			245,740			510,023
Exchange rate differences		25			485			455			272			874			2,111
Additions		15,187			-			-			-			-			15,187
Disposals		(12	)		(23,674	)		(1,845	)		-			(262	)		(25,793	)

Balance as of December 31, 2023		47,388			-			74,039			133,749			246,352			501,528

Amortization
Balance as of January 1, 2022		14,876			29,786			28,223			39,961			-			112,846
Exchange rate differences		2			(585	)		(914	)		(198	)		-			(1,695	)
Additions		6,189			2,514			9,289			10,257			-			28,249
Disposals		(659	)		(19,570	)		(2,393	)		(4,851	)		-			(27,473	)
Balance as of December 31, 2022		20,408			12,145			34,205			45,169			-			111,927
Exchange rate differences		15			355			353			157			-			880
Additions		7,172			11,174			12,407			21,499			-			52,252
Disposals		(12	)		(23,674	)		(1,845	)		-			-			(25,531	)

Balance as of December 31, 2023		27,583			-			45,120			66,825			-			139,528

Carrying amounts
As of December 31, 2023		19,805			-			28,919			66,924			246,352			362,000
As of December 31, 2022		11,780			11,044			41,224			88,308			245,740			398,096

GENERAL AND ADMINISTRATIVE EXPENSES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Selling, general and administrative expense [abstract]
Wages, salaries and related expenses	$ 21,835	$ 18,933	$ 17,755
Share base payments	12,121	31,878	32,250
Rent and office maintenance	2,432	319	549
Professional expenses	7,686	12,233	7,136
Doubtful debts	4,337	(3,167)	4,958
Acquisition costs	171	6,012	253
Other expenses	2,469	1,797	598
Total general and administrative expense	$ 51,051	$ 68,005	$ 63,499

FINANCIAL INSTRUMENTS (Detail Textuals) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Aug. 18, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about financial instruments [line items]
Allowance account for credit losses of financial assets		$ 17,423	$ 10,138	$ 13,870
Unobservable inputs description		the risk-free rate for 10-year debentures issued by the government in the relevant market
Increase of available cash and cash equivalents		$ (426)	(3,287)	$ (209)
Percentage of future principal and interest cash flows by market interest rate		7.064%
Amount of measurement of future principal and interest cash flows by market interest rate		$ 97,291
VIDAA
Disclosure of detailed information about financial instruments [line items]
Investments in subsidiaries reported in separate financial statements	$ 25,000
Proportion of ownership interest in subsidiary	2.50%
Market risk \| Australia, Dollars
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic		14,027
Market risk \| Israel, New Shekels
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic		5,653
Market risk \| Euro Member Countries, Euro
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic		4,571
Market risk \| Singapore, Dollars
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic		2,981
Market risk \| Canada, Dollars
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic		2,692
Market risk \| United Kingdom, Pounds
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic		2,665
Market risk \| Japan, Yen
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic		2,040
Market risk \| Other currencies
Disclosure of detailed information about financial instruments [line items]
Risk exposure associated with instruments sharing characteristic		$ 1,493
Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Percentage increase In interest rate		5.00%
Decrease in shareholders’ equity due increase in interest rate		$ 3,700
Increase of available cash and cash equivalents		2,800
Net effect of cash and cash equivalents		900
Leases, trade, and other payables
Disclosure of detailed information about financial instruments [line items]
Contractual obligation of financial liability		332,782	361,820
Leases, trade, and other payables \| Less than one year (0-1)
Disclosure of detailed information about financial instruments [line items]
Contractual obligation of financial liability		$ 201,955	$ 239,240
Buyer 1 \| Trade Receivable
Disclosure of detailed information about financial instruments [line items]
Buyer's percentage out of the total trade receivables		16.20%	15.70%
Buyer 2 \| Trade Receivable
Disclosure of detailed information about financial instruments [line items]
Buyer's percentage out of the total trade receivables		16.50%	14.10%
Vendor \| Leases, trade, and other payables
Disclosure of detailed information about financial instruments [line items]
Vendors percentage out of total trade payable		12.70%

FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about financial instruments [abstract]

Disclosure of derivative financial instruments

	December 31
	2023		2022
	USD thousands

Derivatives presented under current assets
Forward exchange contracts used for hedging		123		-

Derivatives presented under current liability
Forward exchange contracts used for hedging		-		(209	)

Total		123		(209	)

Disclosure of maximum exposure to credit risk

	December 31
	2023		2022
	USD thousands

Cash and cash equivalents		234,308		217,500
Trade receivables, net (a)		201,973		219,837
Other receivables		1,996		7,709
Long term deposit		525		406

		438,802		445,452

Disclosure of trade receivables

	Allowance for Doubtful debts
	2023			2022
	USD thousands

Balance at January 1		10,138			13,870
Allowance for doubtful debts expenses (income)		7,622			(3,167	)
Discontinuance of consolidation		(275	)		-
Write-off		(22	)		(542	)
Exchange rate difference		(40	)		(23	)

Balance at December 31		17,423			10,138

Disclosure of sensitivity analysis

	2023					2022
GBP/USD	+10%			-10%		+10%			-10%
	USD thousands

Profit / (Loss)		(1,832	)		1,832		(2,893	)		2,893
Increase / (Decrease) in Shareholders’ Equity		(9	)		9		(94	)		94

	2023					2022
NIS/USD	+10%		-10%			+10%			-10%
	USD thousands

Profit / (Loss)		353		(353	)		(139	)		139
Increase / (Decrease) in Shareholders’ Equity		384		(384	)		(107	)		107

	2023					2022
SGD/USD	+10%			-10%		+10%			-10%
	USD thousands

Profit / (Loss)		(2,348	)		2,348		(2,615	)		2,615
Increase / (Decrease) in Shareholders’ Equity		(6	)		6		(320	)		320

Disclosure of financial asset measured at fair value through profit or loss under level 3

	December 31, 2023		December 31, 2022
	Level 3		Level 3
	USD thousands		USD thousands

Financial assets measured at fair value through profit or loss:
Investment in shares		25,000		25,000

REVENUES

12 Months Ended

Dec. 31, 2023

Disclosure Of Revenue [Abstract]

REVENUE

NOTE 12:

REVENUES

	Year ended December 31
	2023		2022		2021
	USD thousands

Programmatic		299,005		274,355		266,616
Performance		32,988		60,895		75,329

		331,993		335,250		341,945

For the year ended December 31, 2023, no individual buyer accounted for more than 10% of revenue. For the year ended December 31, 2022 one buyer represents 10.7% of revenue. For the year ended December 31, 2021 one buyer represents 13.6% of revenue.

SHARE-BASED COMPENSATION ARRANGEMENTS (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized in the statement of operation and other comprehensive income	$ 19,169	$ 50,505	$ 42,818
Selling and marketing
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized in the statement of operation and other comprehensive income	3,740	10,594	7,094
Research and development
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized in the statement of operation and other comprehensive income	3,308	8,034	3,474
General and administrative
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense recognized in the statement of operation and other comprehensive income	$ 12,121	$ 31,877	$ 32,250

SHARE-BASED COMPENSATION ARRANGEMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of terms and conditions of share-based payment arrangement [line items]

Disclosure of detailed information about number and weighted average exercise prices of share options

	Number of options						Weighted average exercise price
	2023			2022			2023		2022
	(Thousands)						(USD)

Outstanding of 1 January		4,772			6,026			7.31		6.54
Forfeited during the year		(721	)		(828	)		6.33		7.61
Exercised during the year		(346	)		(1,046	)		0.67		1.96
Granted during the year		-			620			-		7.22

Outstanding of December 31		3,705			4,772			7.91		7.31
Exercisable of December 31		2,086			1,814

Disclosure of expense recognized in the statement of operation and other comprehensive income

	Year ended December 31
	2023		2022		2021
	USD thousands

Selling and marketing		3,740		10,594		7,094
Research and development		3,308		8,034		3,474
General and administrative		12,121		31,877		32,250

		19,169		50,505		42,818

Restricted Share Units

Disclosure of terms and conditions of share-based payment arrangement [line items]

Disclosure of detailed information about number of restricted share units and performance stock units

	Number of RSU’s						Weighted-Average Grant Date Fair Value
	2023			2022			2023		2022
	(Thousands)

Outstanding at 1 January		5,288			8,146			8.277		8.606
Forfeited during the year		(254	)		(261	)		6.275		9.948
Exercised during the year		(3,295	)		(3,374	)		8.208		8.091
Granted during the year		353			777			2.160		4.596

Outstanding at December 31		2,092			5,288			7.601		8.277

Performance Stock Units

Disclosure of terms and conditions of share-based payment arrangement [line items]

Disclosure of detailed information about number of restricted share units and performance stock units

	Number of PSU’s						Weighted-Average Grant Date Fair Value
	2023			2022			2023		2022
	(Thousands)

Outstanding at January 1		1,992			4,486			8.937		6.796
Forfeited during the year		(254	)		(80	)		6.328		9.952
Exercised during the year		(930	)		(2,582	)		9.320		4.891
Granted during the year		144			168			2.160		4.453

Outstanding at December 31		952			1,992			8.238		8.937

LEASES (Details 1) - USD ($) $ in Thousands	12 Months Ended
LEASES (Details 1) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of quantitative information about right-of-use assets [line items]
Balance	$ 18,273	$ 8,273
Discontinuance of consolidation		16,736
Sale of a subsidiary	(64)
Depreciation and amortization on right-of-use assets	(15,001)	(9,226)
Net additions	22,840	2,896
Lease modifications	20	(74)
Disposals	(141)	(257)
Exchange rate differences	(12)	(75)
Balance	25,915	18,273
Offices
Disclosure of quantitative information about right-of-use assets [line items]
Balance	7,753	5,424
Discontinuance of consolidation		6,103
Sale of a subsidiary	(64)
Depreciation and amortization on right-of-use assets	(4,422)	(4,533)
Net additions	7,871	1,113
Lease modifications	20	(74)
Disposals	(119)	(205)
Exchange rate differences	(12)	(75)
Balance	11,027	7,753
Data center
Disclosure of quantitative information about right-of-use assets [line items]
Balance	10,520	2,849
Discontinuance of consolidation	10,633
Sale of a subsidiary	0
Depreciation and amortization on right-of-use assets	(10,579)	(4,693)
Net additions	14,969	1,783
Lease modifications	0	0
Disposals	(22)	(52)
Exchange rate differences	0	0
Balance	$ 14,888	$ 10,520

REVENUE (Details) - USD ($) $ in Thousands	12 Months Ended
REVENUE (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 331,993	$ 335,250	$ 341,945
Programmatic
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	299,005	274,355	266,616
Performance
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 32,988	$ 60,895	$ 75,329

Disclosure Of Cost Of Revenue [Abstract]

The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

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+ Details

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
ASSETS:
Cash and cash equivalents	$ 234,308	$ 217,500
Trade receivables, net	201,973	219,837
Other receivables	8,293	23,415
Current tax assets	7,010	750
TOTAL CURRENT ASSETS	451,584	461,502
Fixed assets, net	21,401	29,874
Right-of-use assets	31,900	23,122
Intangible assets, net	362,000	398,096
Deferred tax assets	12,393	18,161
Investment in shares	25,000	25,000
Other long-term assets	525	406
TOTAL NON-CURRENT ASSETS	453,219	494,659
TOTAL ASSETS	904,803	956,161
LIABILITIES:
Current maturities of lease liabilities	12,106	14,104
Trade payables	183,296	212,690
Other payables	29,098	44,355
Current tax liabilities	4,937	9,417
TOTAL CURRENT LIABILITIES	229,437	280,566
Employee benefits	237	238
Long-term lease liabilities	24,955	15,234
Long-term debt	99,072	98,544
Other long-term liabilities	6,800	8,802
Deferred tax liabilities	754	1,162
TOTAL NON-CURRENT LIABILITIES	131,818	123,980
TOTAL LIABILITIES	361,255	404,546
SHAREHOLDERS’ EQUITY:
Share capital	417	413
Share premium	410,563	400,507
Other comprehensive loss	(2,441)	(5,801)
Retained earnings	135,009	156,496
TOTAL SHAREHOLDERS’ EQUITY	543,548	551,615
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 904,803	$ 956,161

COST OF REVENUE

12 Months Ended

Dec. 31, 2023

COST OF REVENUE

NOTE 13:

COST OF REVENUE

	Year ended December 31
	2023		2022		2021
	USD thousands

Programmatic		44,385		35,110		31,572
Performance		17,885		25,635		40,079

Cost of Revenue		62,270		60,745		71,651

SHAREHOLDERS' EQUITY (Detail Textuals) - USD ($)		12 Months Ended
SHAREHOLDERS' EQUITY (Detail Textuals) - USD ($)	Dec. 18, 2023	Dec. 31, 2022	Dec. 31, 2023	Jul. 31, 2023
Disclosure of classes of share capital [line items]
Maximum amount for share buyback program	$ 20,000,000	$ 95,000,000
Number of ordinary shares repurchase	221,506		2,505,851
Amount of ordinary shares repurchase	$ 600		$ 8,700,000
Restricted Share Units
Disclosure of classes of share capital [line items]
Number of ordinary shares repurchase				2,240
Nexxen International Ltd. and its subsidiaries
Disclosure of classes of share capital [line items]
Number of ordinary shares repurchase		16,906,795
Amount of ordinary shares repurchase		$ 86,300,000

LEASES (Detail Textuals) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Quantitative Information About Lease [Line Items]
Lease liability	$ 37,061	$ 29,338
Right-of-use assets	25,915	18,273	$ 8,273
Offices
Disclosure Of Quantitative Information About Lease [Line Items]
Lease liability	21,381	18,513
Right-of-use assets	11,027	7,753	5,424
Data center
Disclosure Of Quantitative Information About Lease [Line Items]
Lease liability	15,680	10,825
Right-of-use assets	$ 14,888	$ 10,520	$ 2,849

SHARE-BASED COMPENSATION ARRANGEMENTS (Detail Textuals) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) Share	Dec. 31, 2022 USD ($) Share	Dec. 31, 2021 Share
Disclosure of terms and conditions of share-based payment arrangement [line items]
Service period vesting conditions	between 0.5-4 years
Number of options outstanding	3,705,000	4,772,000	6,026,000
Employees
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total expense recognized to employees \| $	$ 2,429	$ 5,867
Restricted Share Units
Disclosure of terms and conditions of share-based payment arrangement [line items]
Granted during the year	353,000	777,000
Restricted Share Units \| Executives and employees
Disclosure of terms and conditions of share-based payment arrangement [line items]
Granted during the year	352,800	777,448
Restricted Share Units \| Employees
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total expense recognized to employees \| $	$ 13,356	$ 31,923
Performance Stock Units
Disclosure of terms and conditions of share-based payment arrangement [line items]
Granted during the year	143,700	168,048
Performance Stock Units \| Employees
Disclosure of terms and conditions of share-based payment arrangement [line items]
Total expense recognized to employees \| $	$ 3,384	$ 12,715

SUBSIDIARIES

12 Months Ended

Dec. 31, 2023

Disclosure of subsidiaries [abstract]

SUBSIDIARIES

NOTE 20:

SUBSIDIARIES

Details in respect of subsidiaries:

Presented hereunder is a list of the Group’s subsidiary:

	Principal	The Group’s ownership interest
	location of the	in the subsidiary for the year ended
	Company’s	December 31
Name of company	activity	2023			2022
Taptica Inc	USA		100	%		100	%
Tremor Video Inc	USA		100	%		100	%
Adinnovation Inc	Japan		-			100	%
Taptica UK	UK		100	%		100	%
YuMe Inc*	USA		100	%		100	%
Perk.com Canada Inc	Canada		100	%		100	%
R1Demand LLC*	USA		100	%		100	%
Nexxen Group LLC (f/k/a Unruly Group LLC)	USA		100	%		100	%
Nexxen Group US Holdings Inc. (f/k/a Unruly Group US Holding Inc)*	USA		100	%		100	%
Nexxen Holdings Ltd (f/k/a Unruly Holdings Limited)*	UK		100	%		100	%
Nexxen Group Ltd (f/k/a Unruly Group Limited)*	UK		100	%		100	%
Unruly Media GmbH	Germany		100	%		100	%
Unruly Media Pte Ltd*	Singapore		100	%		100	%
Nexxen Pty Ltd (f/k/a Unruly Media Pty Ltd)	Australia		100	%		100	%
Unruly Media KK	Japan		100	%		100	%
Unmedia Video Distribution Sdn Bhd	Malaysia		100	%		100	%
SpearAd GmbH	Germany		100	%		100	%
Nexxen Inc. (f/k/a Amobee Inc)*	USA		100	%		100	%
Amobee EMEA Limited	UK		100	%		100	%
Amobee International Inc	USA		100	%		100	%
Amobee Ltd	Israel		100	%		100	%
Amobee Asia Pte Ltd*	Singapore		100	%		100	%
Amobee ANZ Pty Ltd	Australia		100	%		100	%

Under these companies, there are seventeen (17) wholly owned subsidiaries that are inactive and in liquidation process.

GENERAL

12 Months Ended

Dec. 31, 2023

Disclosure Of General Information [Abstract]

GENERAL

NOTE 1:

GENERAL

Reporting entity:

Nexxen International Ltd. (the “Company” or “Nexxen International”), formerly known as Tremor International Ltd., was incorporated in Israel under the laws of the State of Israel on March 20, 2007. The ordinary shares of the Company are listed on the AIM Market of the London Stock Exchange and the American Depositary Shares ("ADSs"), each of which represents two ordinary shares of the Company, represented by the American Depositary Receipts ("ADR") are listed on the Nasdaq Capital Market. The address of the registered office is 82 Yigal Alon Street Tel-Aviv, 6789124, Israel.

Nexxen International is a global Company offering a unified data-driven end-to-end software platform that supports a wide range of media types (e.g., video, display, etc.) and devices (e.g., mobile, Connected TVs, streaming devices, desktop, etc.), creating an efficient marketplace where advertisers (buyers) are able to purchase high quality advertising inventory from publishers (sellers) in real-time and at scale. Nexxen International’s technology stack is comprised of a Demand Side Platform (“DSP”), Supply-Side Platform (“SSP”), Ad Server, and Data Management Platform (“DMP”), empowering customers on both the buy- and sell-sides of the ecosystem to leverage a full suite of data-driven planning and technology solutions to achieve greater efficiency, effectiveness, and outcomes in their advertising efforts. The Company’s DSP solution is delivered through wholly owned subsidiary Nexxen Inc. (formerly known as Amobee Inc. and which also includes Tremor Video Inc.’s activity that was transferred to Nexxen Inc. in 2023) and is designed to assist customers in a self-managed or full-service capacity to plan and execute digital marketing campaigns in real-time across various ad formats. The Company’s SSP solution (delivered through Nexxen Group LLC, formerly known as Unruly Group, LLC) is designed to monetize digital inventory for publishers by enabling their content to have the necessary code and requirements for programmatic advertising integration, and provides access to significant amounts of data and unique demand to drive more effective inventory management and revenue optimization. The Company’s “DMP” integrates both its DSP and SSP solutions, enabling advertisers and publishers to use data from various sources, including web, social media, Connected TV and linear TV, and mobile devices, to optimize results of their advertising campaigns. Following the acquisition of Nexxen Inc., the Company gained a Linear TV Planning feature, enabling sellers at national broadcasters to generate linear TV plans during and after upfronts. Nexxen International Ltd. is headquartered in Israel and maintains offices throughout the U.S., Canada, EMEA and Asia-Pacific.

On June 12, 2023, the Company initially rebranded all of its core products and platforms under the unified Nexxen brand. On January 2, 2024, the Company’s name was officially changed to Nexxen International Ltd. and, in connection with the change, its stock ticker on both the NASDAQ and London Stock Exchange changed from “TRMR” to “NEXN”. The Company believes rebranding and unifying under Nexxen has enhanced its commercial focus, and has better conveyed the holistic value proposition of its end-to-end technology stack to the market for its next phase of growth. As part of the rebranding, the Company changed the expected useful life of its previous brands, which completed by the end of the year. See Note 7.

b. Definitions:

In these financial statements –

The Company	-	Nexxen International Ltd.

The Group	-	Nexxen International Ltd. and its subsidiaries.

Subsidiaries	-	Companies, the financial statements of which are fully consolidated, directly, or indirectly, with the financial statements of the Company such as Nexxen Group LLC, Unruly Holding Ltd, Tremor Video Inc, Nexxen Inc.

Related party	-	As defined by IAS 24, “Related Party Disclosures”.

INTANGIBLE ASSETS, NET (Details) - USD ($) $ in Thousands	12 Months Ended
INTANGIBLE ASSETS, NET (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance, beginning of year	$ 398,096
Balance, end of year	362,000	$ 398,096
Cost
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance, beginning of year	510,023	321,066
Exchange rate differences	2,111	(6,531)
Additions	15,187	8,750
Disposals	(25,793)	(28,013)
Business combinations		214,751
Balance, end of year	501,528	510,023
Amortization
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance, beginning of year	(111,927)	(112,846)
Exchange rate differences	880	(1,695)
Additions	52,252	28,249
Disposals	(25,531)	(27,473)
Balance, end of year	(139,528)	(111,927)
Software
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance, beginning of year	11,780
Balance, end of year	19,805	11,780
Software \| Cost
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance, beginning of year	32,188	24,687
Exchange rate differences	25	(50)
Additions	15,187	8,750
Disposals	(12)	(1,199)
Business combinations		0
Balance, end of year	47,388	32,188
Software \| Amortization
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance, beginning of year	(20,408)	(14,876)
Exchange rate differences	15	2
Additions	7,172	6,189
Disposals	(12)	(659)
Balance, end of year	(27,583)	(20,408)
Trademarks
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance, beginning of year	11,044
Balance, end of year	0	11,044
Trademarks \| Cost
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance, beginning of year	23,189	36,367
Exchange rate differences	485	(1,262)
Additions	0	0
Disposals	(23,674)	(19,570)
Business combinations		7,654
Balance, end of year	0	23,189
Trademarks \| Amortization
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance, beginning of year	(12,145)	(29,786)
Exchange rate differences	355	(585)
Additions	11,174	2,514
Disposals	(23,674)	(19,570)
Balance, end of year	0	(12,145)
Customer relationships
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance, beginning of year	41,224
Balance, end of year	28,919	41,224
Customer relationships \| Cost
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance, beginning of year	75,429	50,108
Exchange rate differences	455	(1,455)
Additions	0	0
Disposals	(1,845)	(2,393)
Business combinations		29,169
Balance, end of year	74,039	75,429
Customer relationships \| Amortization
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance, beginning of year	(34,205)	(28,223)
Exchange rate differences	353	(914)
Additions	12,407	9,289
Disposals	(1,845)	(2,393)
Balance, end of year	(45,120)	(34,205)
Technology
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance, beginning of year	88,308
Balance, end of year	66,924	88,308
Technology \| Cost
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance, beginning of year	133,477	53,192
Exchange rate differences	272	(548)
Additions	0	0
Disposals	0	(4,851)
Business combinations		85,684
Balance, end of year	133,749	133,477
Technology \| Amortization
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance, beginning of year	(45,169)	(39,961)
Exchange rate differences	157	(198)
Additions	21,499	10,257
Disposals	0	(4,851)
Balance, end of year	(66,825)	(45,169)
Goodwill
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance, beginning of year	245,740
Balance, end of year	246,352	245,740
Goodwill \| Cost
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance, beginning of year	245,740	156,712
Exchange rate differences	874	(3,216)
Additions	0	0
Disposals	(262)	0
Business combinations		92,244
Balance, end of year	246,352	245,740
Goodwill \| Amortization
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance, beginning of year	0	0
Exchange rate differences	0
Additions	0	0
Disposals	0	0
Balance, end of year	$ 0	$ 0

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Share capital	Share premium	Other comprehensive income (loss)	Retained Earnings	Total
Balance at Dec. 31, 2020	$ 380	$ 264,831	$ 3,330	$ 60,472	$ 329,013
Total Comprehensive income (loss) for the year
Profit (loss) for the year	0	0	0	73,223	73,223
Other comprehensive loss:
Foreign currency translation	0	0	(2,632)	0	(2,632)
Foreign Currency Translation for subsidiary sold					0
Total comprehensive Income (loss) for the year	0	0	(2,632)	73,223	70,591
Transactions with owners, recognized directly in equity
Revaluation of liability for put option on non- controlling interests	0	0	0	64	64
Own shares acquired	(3)	(6,640)	0	0	(6,643)
Share based compensation	0	41,822	0	0	41,822
Exercise of share options	17	1,353	0	0	1,370
Issuance of shares	47	136,111	0	0	136,158
Issuance of Restricted shares	1	(1)	0	0	0
Balance at Dec. 31, 2021	442	437,476	698	133,759	572,375
Total Comprehensive income (loss) for the year
Profit (loss) for the year	0	0	0	22,737	22,737
Other comprehensive loss:
Foreign currency translation	0	0	(6,499)	0	(6,499)
Foreign Currency Translation for subsidiary sold					0
Total comprehensive Income (loss) for the year	0	0	(6,499)	22,737	16,238
Transactions with owners, recognized directly in equity
Own shares acquired	(50)	(86,202)	0	0	(86,252)
Share based compensation	0	47,049	0	0	47,049
Exercise of share options	21	2,184	0	0	2,205
Balance at Dec. 31, 2022	413	400,507	(5,801)	156,496	551,615
Total Comprehensive income (loss) for the year
Profit (loss) for the year	0	0	0	(21,487)	(21,487)
Other comprehensive loss:
Foreign currency translation	0	0	2,126	0	2,126
Foreign Currency Translation for subsidiary sold	0	0	1,234	0	1,234
Total comprehensive Income (loss) for the year	0	0	3,360	(21,487)	(18,127)
Transactions with owners, recognized directly in equity
Own shares acquired	(8)	(9,306)	0	0	(9,314)
Share based compensation	0	19,141	0	0	19,141
Exercise of share options	12	221	0	0	233
Balance at Dec. 31, 2023	$ 417	$ 410,563	$ (2,441)	$ 135,009	$ 543,548

TRADE AND OTHER PAYABLES (Tables)

12 Months Ended

Dec. 31, 2023

Trade and other payables [abstract]

Disclosure of trade and other payable

	December 31
	2023		2022
	USD thousands

Trade payables		183,296		212,690

Other payables:

Contract liabilities		8,366		6,540
Wages, salaries and related expenses		13,319		24,539
Provision for vacation		1,922		1,869
Institutions		1,603		1,659
Interest to pay		1,757		1,504
Pledged deposits		284		362
Others		1,847		7,882

		29,098		44,355

EARNINGS (LOSS) PER SHARE

12 Months Ended

Dec. 31, 2023

Earnings per share [abstract]

EARNINGS (LOSS) PER SHARE

NOTE 16:

EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share

The calculation of basic earnings (loss) per share as for the year ending December 31, 2023, 2022 and 2021 was based on the profit (loss) for the year divided by a weighted average number of ordinary shares outstanding, calculated as follows:

Profit (loss) for the year:

	Year ended December 31
	2023			2022		2021
	USD thousands

Profit (loss) for the year		(21,487	)		22,737		73,223

Weighted average number of ordinary shares:

	Year ended December 31
	2023			2022		2021
	Shares of NIS 0.01 par value

Weighted average number of ordinary shares used to calculate basic earnings (loss) per share as at December 31		143,589,188			149,937,339		144,493,989

Basic earnings (loss) per share (in USD)		(0.15	)		0.15		0.51

Diluted earnings (loss) per share:

The calculation of diluted earnings (loss) per share as of December 31, 2023, 2022 and 2021 was based on profit (loss) for the year divided by a weighted average number of shares outstanding after adjustment for the effects of all dilutive potential ordinary shares, calculated as follows:

Weighted average number of ordinary shares (diluted):

	Year ended December 31
	2023			2022		2021
	Shares of NIS 0.01 par value

Weighted average number of ordinary shares used to calculate basic earnings per share		143,589,188			149,937,339		144,493,989
Effect of share options on issue		-			3,120,304		8,212,903

Weighted average number of ordinary shares used to calculate diluted earnings per share		143,589,188			153,057,643		152,706,892

Diluted earnings per share (in USD)		(0.15	)		0.15		0.48

At December 31, 2023 6,749 thousand share options, RSUs and PSUs (in 2022 and 2021: 8,851 thousand and 3,061 thousand, respectively) were excluded from the diluted weighted average number of ordinary shares calculation as their effect would have been anti-dilutive.

INTANGIBLE ASSETS, NET (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Percentage of post tax discount rate	14.00%	15.00%
Percentage of terminal value growth rates.	3.00%	3.00%
Term of initial annual growth rate of impairment testing	5 years
Minimum
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Percentage of growth rate in earnings before interest taxes depreciation and amortization	26.00%	21.00%
Maximum
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Percentage of growth rate in earnings before interest taxes depreciation and amortization	42.00%	33.00%
Software
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Development costs capitalized	$ 14,222	$ 8,743

FIXED ASSETS, NET

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about property, plant and equipment [abstract]

FIXED ASSETS, NET

NOTE 5:

FIXED ASSETS, NET

	Computers and Servers			Office furniture and equipment			Leasehold improvements			Total
	USD thousands
Cost

Balance as of January 1, 2022		8,839			445			770			10,054

Exchange rate differences		53			41			20			114
Additions *		8,375			5			5			8,385
Business combinations		22,256			351			647			23,254
Disposals		(892	)		(28	)		(336	)		(1,256	)

Balance as of December 31, 2022		38,631			814			1,106			40,551

Exchange rate differences		(7	)		(13	)		(23	)		(43	)
Additions *		3,783			63			779			4,625
Disposals		(482	)		(114	)		(94	)		(690	)

Balance as of December 31, 2023		41,925			750			1,768			44,443

Accumulated Depreciation

Balance as of January 1, 2022		5,698			269			623			6,590

Exchange rate differences		57			41			18			116
Disposals		(890	)		(28	)		(336	)		(1,254	)
Additions		4,957			61			207			5,225

Balance as of December 31, 2022		9,822			343			512			10,677
Exchange rate differences		(9	)		(8	)		(1	)		(18	)
Disposals		(482	)		(111	)		(93	)		(686	)
Additions		12,314			210			545			13,069

Balance as of December 31, 2023		21,645			434			963			23,042

Carrying amounts

As of December 31, 2023		20,280			316			805			21,401
As of December 31, 2022		28,809			471			594			29,874

* As of December 31, 2023, USD 2,030 thousand additions have not been paid (2022: USD 1,900 thousand).

EARNINGS (LOSS) PER SHARE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings per share [abstract]
Profit (loss) for the year	$ (21,487)	$ 22,737	$ 73,223

Selling, general and administrative expense [abstract]

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 7
-IssueDate 2023-01-01
-Paragraph 18
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_18_b&doctype=Standard
-URIDate 2023-03-23

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2023-01-01
-Paragraph 32
-Subparagraph a
-Clause ii
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2023-en-r&anchor=para_32_a_ii&doctype=Standard
-URIDate 2023-03-23

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2023-01-01
-Paragraph 24
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2023-en-r&anchor=para_24_b&doctype=Standard
-URIDate 2023-03-23

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 28
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_28_b&doctype=Standard
-URIDate 2023-03-23

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 23
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_23&doctype=Standard
-URIDate 2023-03-23

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2023-01-01
-Paragraph B10
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2023-03-23

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 17
-IssueDate 2023-01-01
-Paragraph 113
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2023-en-r&anchor=para_113_b&doctype=Standard
-URIDate 2023-03-23

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 81A
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_81A_a&doctype=Standard
-URIDate 2023-03-23

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 106
-Subparagraph d
-Clause i
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_106_d_i&doctype=Standard
-URIDate 2023-03-23

+ Details

LEASES (Details 5) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of maturity analysis of finance lease payments receivable [line items]
Total net investment in the lease	$ 5,985	$ 4,849
Less than one year (0-1)
Disclosure of maturity analysis of finance lease payments receivable [line items]
Total net investment in the lease	1,772	1,084
One to five years (1-5)
Disclosure of maturity analysis of finance lease payments receivable [line items]
Total net investment in the lease	$ 4,213	$ 3,765

GENERAL AND ADMINISTRATIVE EXPENSES

12 Months Ended

Dec. 31, 2023

GENERAL AND ADMINISTRATIVE EXPENSES

NOTE 14:

GENERAL AND ADMINISTRATIVE EXPENSES

	Year ended December 31
	2023		2022			2021
	USD thousands

Wages, salaries and related expenses		21,835		18,933			17,755
Share base payments		12,121		31,878			32,250
Rent and office maintenance		2,432		319			549
Professional expenses		7,686		12,233			7,136
Doubtful debts		4,337		(3,167	)		4,958
Acquisition costs		171		6,012			253
Other expenses		2,469		1,797			598

		51,051		68,005			63,499

RELATED PARTIES

12 Months Ended

Dec. 31, 2023

Disclosure of transactions between related parties [abstract]

RELATED PARTIES

NOTE 19:

RELATED PARTIES

Compensation and benefits to key management personnel

Executive officers also participate in the Company’s share option programs. For further information see Note 17 regarding share-based compensation.

Compensation and benefits to key management personnel (including directors) that are employed by the Company and its subsidiaries:

	Year ended December 31
	2023		2022		2021
	USD thousands

Share-based compensation		11,527		30,914		31,283
Other compensation and benefits		3,988		4,433		6,752

Total		15,515		35,347		38,035

OPERATING SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of operating segments [abstract]

Disclosure of basis of geographical segments

	Year ended December 31
	2023		2022		2021
	USD thousands

America		311,780		303,106		304,686
APAC		6,537		20,031		20,931
EMEA		13,676		12,113		16,328

Total		331,993		335,250		341,945

LEASES (Details 3) - USD ($) $ in Thousands	12 Months Ended
LEASES (Details 3) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Lease [Abstract]
Cash outflow for leases	$ (19,147)	$ (12,605)	$ (10,579)

LONG-TERM DEBT

12 Months Ended

Dec. 31, 2023

Other Long Term Liabilities [Abstract]

LONG-TERM DEBT

NOTE 11:

LONG-TERM DEBT

In September 2022, Nexxen Group US Holdings Inc. (formerly known as Unruly Group US Holding Inc.) entered into a USD 90 million senior secured term loan facility (the Term Loan Facility) and a USD 90 million senior secured revolving credit facility (the Revolving Credit Facility and, together with the Term Loan Facility, collectively, the Credit Facilities). The Company used the net proceeds of the Term Loan Facility and USD 10 million of net proceeds of the Revolving Credit Facility to finance the acquisition of Nexxen Inc. The loan period is 3 years from the date it was obtained.

The Company is obligated to pay a commitment fee on the undrawn amounts of the Revolving Credit Facility at an annual rate, determined by the Company’s total net leverage ratio. The Credit Facilities require compliance with various financial and non-financial covenants, including affirmative and negative covenants. The financial covenants require that the total net leverage ratio not exceed 3x and the interest coverage ratio not be less than 4x, in each case measured as of the end of each fiscal quarter. As of December 31, 2023, the Company is in compliance with all related covenants.

During the twelve-month periods ended December 31, 2023, the Company recognized interest expenses in the amounts of USD 6,854 thousand. Total interest paid during the twelve months ended December 31, 2023, was USD 6,601 thousand.

COST OF REVENUE (Details) - USD ($) $ in Thousands	12 Months Ended
COST OF REVENUE (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Cost Of Revenue [Line Items]
Cost of Revenue	$ 62,270	$ 60,745	$ 71,651
Programmatic
Disclosure Of Cost Of Revenue [Line Items]
Cost of Revenue	44,385	35,110	31,572
Performance
Disclosure Of Cost Of Revenue [Line Items]
Cost of Revenue	$ 17,885	$ 25,635	$ 40,079

FIXED ASSETS, NET (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Disclosure of detailed information about property, plant and equipment [line items]

$ 29,874

Disclosure of detailed information about property, plant and equipment [line items]

21,401

$ 29,874

Cost

40,551

10,054

(43)

114

^[1]

4,625

8,385

23,254

(690)

(1,256)

Disclosure of detailed information about property, plant and equipment [line items]

44,443

40,551

Depreciation

(10,677)

(6,590)

(18)

(116)

(13,069)

(5,225)

686

1,254

Disclosure of detailed information about property, plant and equipment [line items]

(23,042)

(10,677)

Computers and Servers

20,280

Computers and Servers | Cost

28,809

20,280

Disclosure of detailed information about property, plant and equipment [line items]

38,631

8,839

(7)

^[1]

3,783

8,375

22,256

(482)

(892)

Computers and Servers | Depreciation

41,925

38,631

Disclosure of detailed information about property, plant and equipment [line items]

(9,822)

(5,698)

(9)

(12,314)

(4,957)

482

890

Office furniture and equipment

(21,645)

(9,822)

Disclosure of detailed information about property, plant and equipment [line items]

316

Office furniture and equipment | Cost

471

316

Disclosure of detailed information about property, plant and equipment [line items]

814

445

(13)

^[1]

351

(114)

(28)

Office furniture and equipment | Depreciation

750

814

Disclosure of detailed information about property, plant and equipment [line items]

(343)

(269)

(8)

(41)

(210)

(61)

111

Disclosure of detailed information about property, plant and equipment [line items]

(434)

(343)

Leasehold improvements

805

Leasehold improvements | Cost

594

805

Disclosure of detailed information about property, plant and equipment [line items]

1,106

770

(23)

^[1]

779

647

(94)

(336)

Leasehold improvements | Depreciation

1,768

1,106

Disclosure of detailed information about property, plant and equipment [line items]

(512)

(623)

(1)

(545)

(207)

336

Cash and cash equivalents [abstract]

$ (963)

$ (512)

[1]	As of December 31, 2022, USD 1,900 additions have not been paid (2021: nil).

TRADE AND OTHER RECEIVABLES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Trade receivables:
Trade receivables	$ 219,396	$ 229,975
Allowance for expected credit losses	(17,423)	(10,138)	$ (13,870)
Trade receivables, net	201,973	219,837
Other receivables:
Prepaid expenses	4,988	14,425
Loan to a third party	104	0
Institutions	1,309	1,281
Pledged deposits	1,569	3,036
Acquisition consideration adjustment	0	4,673
Other	323	0
Total other receivables	$ 8,293	$ 23,415

SHAREHOLDERS' EQUITY (Details) - shares	12 Months Ended
SHAREHOLDERS' EQUITY (Details) - shares	Dec. 31, 2023	Dec. 31, 2022
Disclosure of classes of share capital [abstract]
Balance as of January 1	144,477,962	154,501,629
Own shares held by the Group	(2,729,597)	(16,906,795)
Share based compensation	4,413,644	6,883,128
Issued and paid-in share capital as of December 31	146,162,009	144,477,962
Authorized share capital	500,000,000	500,000,000

CASH AND CASH EQUIVALENTS (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of cash and cash equivalents

	December 31
	2023		2022
	USD thousands

Cash		105,997		173,568
Bank deposits		128,311		43,932

Cash and cash equivalents		234,308		217,500

INCOME TAX (Details 3) - USD ($) $ in Thousands	12 Months Ended
INCOME TAX (Details 3) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Balance of deferred tax asset (liability)	$ 16,999	$ 23,036
Business combinations		2,499
Discontinuance of consolidation	(521)
Changes recognized in profit or Loss	(4,864)	(5,565)
Effect of change in tax rate	30	255
Changes recognized in equity	(5)	(3,226)
Balance of deferred tax asset (liability)	11,639	16,999
Intangible Assets and R&D expenses
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Balance of deferred tax asset (liability)	(11,694)	(5,587)
Business combinations		(11,313)
Discontinuance of consolidation	168
Changes recognized in profit or Loss	(524)	5,019
Effect of change in tax rate	0	0
Changes recognized in equity	(79)	187
Balance of deferred tax asset (liability)	(12,129)	(11,694)
Employees Compensation
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Balance of deferred tax asset (liability)	7,246	12,074
Business combinations		1,502
Discontinuance of consolidation	(57)
Changes recognized in profit or Loss	(3,837)	(2,927)
Effect of change in tax rate	30	14
Changes recognized in equity	(34)	(3,417)
Balance of deferred tax asset (liability)	3,348	7,246
Carryforward Losses
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Balance of deferred tax asset (liability)	15,419	9,835
Business combinations		7,857
Discontinuance of consolidation	0
Changes recognized in profit or Loss	411	(2,486)
Effect of change in tax rate	0	237
Changes recognized in equity	102	(24)
Balance of deferred tax asset (liability)	15,932	15,419
Accrued Expenses
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Balance of deferred tax asset (liability)	1,693	2,939
Business combinations		1,322
Discontinuance of consolidation	(532)
Changes recognized in profit or Loss	(960)	(2,590)
Effect of change in tax rate	0	0
Changes recognized in equity	6	22
Balance of deferred tax asset (liability)	207	1,693
Doubtful Debt
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Balance of deferred tax asset (liability)	2,751	3,099
Business combinations		973
Discontinuance of consolidation	(99)
Changes recognized in profit or Loss	643	(1,332)
Effect of change in tax rate	0	0
Changes recognized in equity	0	11
Balance of deferred tax asset (liability)	3,295	2,751
Other
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Balance of deferred tax asset (liability)	1,584	676
Business combinations		2,158
Discontinuance of consolidation	(1)
Changes recognized in profit or Loss	(597)	(1,249)
Effect of change in tax rate	0	4
Changes recognized in equity	0	(5)
Balance of deferred tax asset (liability)	$ 986	$ 1,584

FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about financial instruments [abstract]

FINANCIAL INSTRUMENTS

NOTE 18:

FINANCIAL INSTRUMENTS

Overview:

The Group has exposure to the following risks from its use of financial instruments:

	☐	Credit risk
	☐	Liquidity risk
	☐	Market risk

This note presents quantitative and qualitative information about the Group’s exposure to each of the above risks, and the Group’s objectives, policies and processes for measuring and managing risk.

In order to manage these risks and as described hereunder, the Group executes transactions in derivative financial instruments. Presented hereunder is the composition of the derivatives:

	December 31
	2023		2022
	USD thousands

Derivatives presented under current assets
Forward exchange contracts used for hedging		123		-

Derivatives presented under current liability
Forward exchange contracts used for hedging		-		(209	)

Total		123		(209	)

Risk management framework:

The Board of Directors has overall responsibility for the establishment and oversight of the Group’s risk management framework. The Board is responsible for developing and monitoring the Group’s risk management policies.

The Group’s risk management policies are established to identify and analyze the risks faced by the Group, to set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Group’s activities. The Group, through its training and management of standards and procedures, aims to develop a disciplined and constructive control environment in which all employees understand their roles and obligations.

The Group Audit Committee oversees how management monitors compliance with the Group’s risk management policies and procedures and reviews the adequacy of the risk management framework in relation to the risks faced by the Group. The Group Audit Committee is assisted in its oversight role by Internal Audit. Internal Audit undertakes both regular and ad hoc reviews of risk management controls and procedures, the results of which are reported to the Audit Committee.

Credit risk:

The Group’s credit risk is arise from the risk of financial loss if a customer or counterparty to a financial instrument fails to meet its contractual obligations.

The carrying amount of financial assets represents the maximum credit exposure.

The maximum exposure to credit risk at the reporting date was as follows:

	December 31
	2023		2022
	USD thousands

Cash and cash equivalents		234,308		217,500
Trade receivables, net (a)		201,973		219,837
Other receivables		1,996		7,709
Long term deposit		525		406

		438,802		445,452

(a)

At December 31, 2023, the Group included provision for doubtful debts in the amount of USD 17,423 thousand (December 31, 2022: USD 10,138 thousand) in respect of collective impairment provision and specific debtors that their collectability is in doubt.

As of December 31, 2023, two buyers accounted for 16.2% and 16.5% of trade receivables. As of December 31, 2022, two buyers accounted for 15.7% and 14.1% of trade receivables.

	Allowance for Doubtful debts
	2023			2022
	USD thousands

Balance at January 1		10,138			13,870
Allowance for doubtful debts expenses (income)		7,622			(3,167	)
Discontinuance of consolidation		(275	)		-
Write-off		(22	)		(542	)
Exchange rate difference		(40	)		(23	)

Balance at December 31		17,423			10,138

Liquidity risk:

Liquidity risk is the risk that the Group will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Group’s approach to managing liquidity is to ensure, as far as possible, that it has sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Group’s reputation.

As of December 31, 2023, and December 31, 2022, the Group’s contractual obligation of financial liability is in respect of leases, trade, and other payables in the amount of USD thousand and USD 332,782 thousand and USD 361,820 thousands, respectively.

The contractual maturity of the financial liability that is less than one year is in the amount of USD 201,955 thousand and USD 239,240 thousand for December 31, 2023, and December 31, 2022, respectively.

Market risk:

Market risk is the risk that changes in market prices, such as foreign exchange rates, the CPI, interest rates and equity prices will affect the Group’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return.

At December 31, 2023, USD 14,027 thousand are held in AUD, USD 5,653 thousand are held in NIS, USD 4,571 thousand are held in EUR, USD 2,981 thousand are held in SGD, USD 2,692 thousand are held in CAD, USD 2,665 thousand are held in GBP, USD 2,040 thousand are held in JPY, USD 1,493 thousand are held in other currencies and the remainder held in USD.

As of December 31, 2023, no individual vendor accounted for more than 10% of trade payables. As of December 31, 2022, one vendor accounted for 12.7% of trade payables.

Sensitivity analysis:

A change as of December 31 in the exchange rates of the following currencies against the USD, as indicated below, would have affected the measurement of financial instruments denominated in a foreign currency and would have increased (decreased) profit or loss and equity by the amounts shown below (after tax). This analysis is based on foreign currency exchange rate that the Group considered to be reasonably possible at the end of the reporting period. The analysis assumes that all other variables, in particular interest rates, remain constant and ignores any impact of forecasted sales and purchases.

	2023					2022
GBP/USD	+10%			-10%		+10%			-10%
	USD thousands

Profit / (Loss)		(1,832	)		1,832		(2,893	)		2,893
Increase / (Decrease) in Shareholders’ Equity		(9	)		9		(94	)		94

	2023					2022
NIS/USD	+10%		-10%			+10%			-10%
	USD thousands

Profit / (Loss)		353		(353	)		(139	)		139
Increase / (Decrease) in Shareholders’ Equity		384		(384	)		(107	)		107

	2023					2022
SGD/USD	+10%			-10%		+10%			-10%
	USD thousands

Profit / (Loss)		(2,348	)		2,348		(2,615	)		2,615
Increase / (Decrease) in Shareholders’ Equity		(6	)		6		(320	)		320

Linkage and foreign currency risks

Currency risk

The Group is not exposed to currency risk on sales and purchases that are denominated in a currency other than the respective functional currency of the Group, the USD. The principal currencies in which these transactions are denominated are GBP, NIS, EURO, CAD, SGD, MXN, AUD and JPY.

At any point in time, the Group aims to match the amounts of its assets and liabilities in the same currency in order to hedge the exposure to changes in currency.

In respect of other monetary assets and liabilities denominated in foreign currencies, the Group ensures that its net exposure is kept to an acceptable level by buying or selling foreign currencies at spot rates when necessary to address short-term imbalances.

Interest rate risk

The Group has a cash flow risk due to its variable-rate debt instruments. A 5% increase in the interest rate would result in a loss and a decrease in shareholders' equity of USD 3.7 million. However, it will be offset by a gain and shareholders' increase of USD 2.8 million due to available cash and cash equivalents. As a result, there would be a net effect of USD 0.9 million.

Level 3 financial instruments carried at fair value

On August 18, 2022, the Company completed a USD 25 million investment in VIDAA, a smart TV operating system, streaming platform, and subsidiary of Hisense. Through its investment, the Company received a 2.5% equity stake in VIDAA, a multi-year extension to exclusively share of VIDAA’s global ACR data for targeting and measurement across the Company’s platform, and ad monetization exclusivity on VIDAA media in the U.S., U.K., Canada, and Australia.

The investment in shares is a financial asset measured at fair value through profit or loss under level 3.

	December 31, 2023		December 31, 2022
	Level 3		Level 3
	USD thousands		USD thousands

Financial assets measured at fair value through profit or loss:
Investment in shares		25,000		25,000

Valuation processes used by the Company

The fair value of non-marketable shares is determined by external valuer on an annual basis.

The principal unobservable inputs are as follows:

•

The estimated royalties from App share and remote-control button which is based on the expected increase in market share.

•

The average operating profit margin which is based on the stage of research and development.

•

The discount rate, which is based on the risk-free rate for 10-year debentures issued by the government in the relevant market, adjusted for a risk premium to reflect both the risk of investing in equities, the systematic risk of company and entity specific risk to the extent not already reflected in the cash flows.

Financial instruments measured at fair value for disclosure purposes only.

The fair value of the long term debt is estimated by discounting future principal and interest cash flows by the market interest rate of 7.064% on the date of measurement which is USD 97,291 thousands.

FINANCIAL INSTRUMENTS (Details 1) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about financial instruments [line items]
Maximum exposure to credit risk	$ 438,802	$ 445,452
Cash and cash equivalents
Disclosure of detailed information about financial instruments [line items]
Maximum exposure to credit risk	234,308	217,500
Trade receivables, net
Disclosure of detailed information about financial instruments [line items]
Maximum exposure to credit risk	201,973	219,837
Other receivables
Disclosure of detailed information about financial instruments [line items]
Maximum exposure to credit risk	1,996	7,709
Long term deposit
Disclosure of detailed information about financial instruments [line items]
Maximum exposure to credit risk	$ 525	$ 406

CONSOLIDATED STATEMENTS OF OPERATION AND OTHER COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Profit or loss [abstract]
Revenues	$ 331,993	$ 335,250	$ 341,945
Cost of Revenues (Exclusive of depreciation and amortization shown separately below)	62,270	60,745	71,651
Research and development expenses	49,684	33,659	18,422
Selling and marketing expenses	105,914	89,953	74,611
General and administrative expenses	51,051	68,005	63,499
Depreciation and amortization	78,285	42,700	40,259
Other expenses (income), net	1,765	(4,564)	(959)
Total operating costs	286,699	229,753	195,832
Operating Profit (loss)	(16,976)	44,752	74,462
Financing income	(8,192)	(2,284)	(483)
Financing expenses	10,200	4,611	2,670
Financing expenses, net	2,008	2,327	2,187
Profit (loss) before taxes on income	(18,984)	42,425	72,275
Tax benefit (expenses)	(2,503)	(19,688)	948
Profit (loss) for the year	(21,487)	22,737	73,223
Other comprehensive income (loss) items:
Foreign currency translation differences for foreign operations	2,126	(6,499)	(2,632)
Foreign currency translation for subsidiary sold reclassified to profit and loss	1,234	0	0
Total other comprehensive income (loss) for the year	3,360	(6,499)	(2,632)
Total comprehensive income (loss) for the year	$ (18,127)	$ 16,238	$ 70,591
Earnings per share
Basic earnings (loss) per share (in USD)	$ (0.15)	$ 0.15	$ 0.51
Diluted earnings (loss) per share (in USD)	$ (0.15)	$ 0.15	$ 0.48

Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2023 shares
Entity Addresses [Line Items]
Entity Registrant Name	NEXXEN INTERNATIONAL LTD.
Entity Central Index Key	0001849396
Document Type	20-F
Document Period End Date	Dec. 31, 2023
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity Common Stock, Shares Outstanding	146,162,009
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Entity Interactive Data Current	Yes
Entity Incorporation State Country Code	L3
Entity File Number	001-40504
Entity Address, Address Line One	82 Yigal Alon Street
Entity Address, City or Town	Tel Aviv
Entity Address, Postal Zip Code	6789124
Entity Address, Country	IL
Title of 12(b) Security	American Depositary Shares
Trading Symbol	NEXN
Security Exchange Name	NASDAQ
Document Accounting Standard	International Financial Reporting Standards
Document Registration Statement	false
Auditor Firm ID	1057
Auditor Location	Tel-Aviv, Israel
Auditor Name	Somekh Chaikin
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	true
Document Financial Statement Restatement Recovery Analysis [Flag]	false
Business Contact [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	82 Yigal Alon Street
Entity Address, City or Town	Tel Aviv
Entity Address, Postal Zip Code	6789124
Entity Address, Country	IL
Contact Personnel Name	Sagi Niri
City Area Code	972
Local Phone Number	3-545-3900
Contact Personnel Email Address	sniri@nexxen.com

COST OF REVENUE (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure Of Cost Of Revenue [Abstract]

Disclosure of cost of revenue

	Year ended December 31
	2023		2022		2021
	USD thousands

Programmatic		44,385		35,110		31,572
Performance		17,885		25,635		40,079

Cost of Revenue		62,270		60,745		71,651

EARNINGS (LOSS) PER SHARE (Detail Textuals) - shares shares in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share options [Member]
Earnings per share [line items]
Options excluded from diluted weighted average number of ordinary shares	6,749	8,851	3,061
Restricted share units [Member]
Earnings per share [line items]
Options excluded from diluted weighted average number of ordinary shares	6,749	8,851	3,061
Performance Share Units [Member]
Earnings per share [line items]
Options excluded from diluted weighted average number of ordinary shares	6,749	8,851	3,061

TRADE AND OTHER RECEIVABLES

12 Months Ended

Dec. 31, 2023

Trade and other current receivables [abstract]

TRADE AND OTHER RECEIVABLES

NOTE 8:

TRADE AND OTHER RECEIVABLES

	December 31
	2023			2022
	USD thousands

Trade receivables:
Trade receivables		219,396			229,975
Allowance for expected credit losses		(17,423	)		(10,138	)

Trade receivables, net		201,973			219,837

Other receivables:
Prepaid expenses		4,988			14,425
Loan to a third party		104			-
Institutions		1,309			1,281
Pledged deposits		1,569			3,036
Acquisition consideration adjustment		-			4,673
Other		323			-

		8,293			23,415

INCOME TAX (Details 1) - USD ($) $ in Thousands	12 Months Ended
INCOME TAX (Details 1) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Domestic And Foreign Components Of Income Taxes [Line Items]
Tax expenses (benefit)	$ 2,503	$ 19,688	$ (948)
Domestic
Disclosure Of Domestic And Foreign Components Of Income Taxes [Line Items]
Tax expenses (benefit)	(5,352)	5,766	4,995
US
Disclosure Of Domestic And Foreign Components Of Income Taxes [Line Items]
Tax expenses (benefit)	8,712	11,578	(961)
International
Disclosure Of Domestic And Foreign Components Of Income Taxes [Line Items]
Tax expenses (benefit)	$ (857)	$ 2,344	$ (4,982)

Disclosure Of Significant Accounting Policies [Abstract]

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

MATERIAL ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2023

Financial instruments

Financial instruments:

Non-derivative financial assets

Non-derivative financial liabilities

The Company’s non-derivative financial liabilities mainly include trade and other payables, and loan, all measured at amortized cost.

Treasury shares:

Fixed Assets

Fixed Assets:

	Years
Computers and servers	3-5
Office furniture and equipment	3-17
Leasehold improvements	The shorter of the lease term and the useful life

Intangible assets and liabilities

Intangible assets and liabilities:

Software development:

Expenditure on research activities, undertaken with the prospect of gaining new scientific or technical knowledge and understanding, is recognized in profit or loss when incurred.

The estimated useful lives of developed software are three years.

Goodwill:

Amortization:

The estimated useful lives for the current and comparative periods are as follows:

Trademark	Fully depreciated, See note 7
Software (developed and acquired)	3 years
Customer relationships	3-6 years
Technology	3-5.25 years

Unfavorable contracts

Share Based Compensation

Share Based Compensation:

These assumptions and estimates are as follows:

Risk-Free Interest Rate. The risk-free interest rate is based on the yields of U.S. Treasury securities with maturities approximating the expected term of the awards.

Expected Term. The expected term of an award is calculated based on the vesting date and the expiration date of the award.

Volatility. The Company determined the price volatility based on daily price observations over a period equivalent to the expected term of the award.

Dividend Yield. The dividend yield assumption is based on the Company’s history and current expectations of dividend payouts.

Fair Value of Common Stock. The fair value of common stock is based on the closing price of the Company's common stock on the grant date.

Employee benefits

Employee benefits:

Post-employment benefits:

Short-term benefits:

Revenue recognition

Revenue recognition:

As a result, the Group reports its Programmatic business, tech stack, features, business models and activity as an agent and therefore presented revenue from Programmatic on a net basis.

For the Performance activity the Company is the primary obligor to provide the services and, as such, revenue is presented on a gross basis.

Management is focused on driving growth with the Programmatic activity through the end-to-end platform, while the Performance activity is declining over time.

The Group estimates and records reduction to revenue for volume discounts based on expected volume during the incentive term.

Classification of expenses

Cost of revenue

Research and development

Selling and marketing

General and administrative

Financing income and expenses

Financing income and expenses:

Financing income mainly comprises foreign currency gains and interest income.

Financing expense primarily includes exchange rate differences, interest and bank fees.

Taxes on income

The Company operates in multiple tax jurisdictions.

Offset of deferred tax assets and liabilities

Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority.

Uncertain tax positions

Leases

Leases:

Leased assets and lease liabilities

Variable lease payments

Depreciation of right-of-use asset

	☐	Buildings	1-8.5 years
	☐	Data centers	1-5.5 years

New standards, amendments to standards and interpretations not yet adopted

Initial application of new standards, amendments to standards and interpretations

Amendment to IAS 1, Presentation of Financial Statements: "Disclosure of Accounting Policies.

New standards, amendments to standards and interpretations not yet adopted:

Amendment to IAS 1, Presentation of Financial Statements: Classification of Liabilities as Current or Non-Current and subsequent amendment: Non-Current Liabilities with Covenants.

The Group is examining the effects of the Amendment on the financial statements with no plans for early adoption.

EARNINGS (LOSS) PER SHARE (Details 1) - $ / shares	12 Months Ended
EARNINGS (LOSS) PER SHARE (Details 1) - $ / shares	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings per share [abstract]
Weighted average number of ordinary shares used to calculate basic earnings (loss) per share as at December 31	143,589,188	149,937,339	144,493,989
Basic earnings (loss) per share (in USD)	$ (0.15)	$ 0.15	$ 0.51

BASIS OF PREPARATION

12 Months Ended

Dec. 31, 2023

Disclosure Of Basis Of Preparation [Abstract]

BASIS OF PREPARATION

NOTE 2:

BASIS OF PREPARATION

Statement of compliance:

The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board ("IASB").

The consolidated financial statements were authorized for issue by the Company’s Board of Directors on March 5, 2024.

Functional and presentation currency:

These consolidated financial statements are presented in US Dollars (USD), which is the Company’s functional currency, and have been rounded to the nearest thousand, except when otherwise indicated. The USD is the currency that represents the principal economic environment in which the Company operates.

Basis of measurement:

The consolidated financial statements have been prepared on a historical cost basis except for the following assets and liabilities:

•

Deferred and current tax assets and liabilities

•

Provisions

•

Derivatives

•

Investment in shares

For further information regarding the measurement of these assets and liabilities see Note 3 regarding material accounting policies.

Use of estimates and judgments:

The preparation of financial statements in conformity with IFRS requires management of the Group to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

The preparation of accounting estimates used in the preparation of the Group’s financial statements requires management of the Group to make assumptions regarding circumstances and events that involve considerable uncertainty. Management of the Group prepares estimates on the basis of past experience, various facts, external circumstances, and reasonable assumptions according to the pertinent circumstances of each estimate.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.

Information about assumptions made by the Group with respect to the future and other reasons for uncertainty with respect to estimates that have a significant risk of resulting in a material adjustment to carrying amounts of assets and liabilities in the next financial year are included in Note 6, on leases, with respect to determining the lease term and determining the discount rate of a lease liability, in Note 7, on intangible assets, with respect to the accounting of software development capitalization and impairment testing for goodwill, in Note 4, on Income Tax, with respect to uncertain tax position, in Note 18 on investments in shares.

Change in classification:

The Company changed the classification of the current maturities of the unfavorable contract from other payables to other long-term liabilities. Comparative amounts were reclassified for consistency in the amount of USD 1,350 thousand.

Determination of fair value:

Preparation of the financial statements requires the Group to determine the fair value of certain assets and liabilities. When determining the fair value of an asset or liability, the Group uses observable market data as much as possible. There are three levels of fair value measurements in the fair value hierarchy that are based on the data used in the measurement, as follows:

•

Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities.

•

Level 2: inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly.

•

Level 3: inputs that are not based on observable market data (unobservable inputs).

Further information about the assumptions that were used to determine fair value is included in the following notes:

•

Note 17, on share-based compensation;

•

Note 18, on financial instruments;

•

Note 18, on investments in shares.

INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about intangible assets [abstract]

INTANGIBLE ASSETS, NET

NOTE 7:

INTANGIBLE ASSETS, NET

	Software			Trademarks			Customer relationships			Technology			Goodwill			Total
	USD thousands
Cost
Balance as of January 1, 2022		24,687			36,367			50,108			53,192			156,712			321,066
Exchange rate differences		(50	)		(1,262	)		(1,455	)		(548	)		(3,216	)		(6,531	)
Additions		8,750			-			-			-			-			8,750
Disposals		(1,199	)		(19,570	)		(2,393	)		(4,851	)		-			(28,013	)
Business combinations		-			7,654			29,169			85,684			92,244			214,751
Balance as of December 31, 2022		32,188			23,189			75,429			133,477			245,740			510,023
Exchange rate differences		25			485			455			272			874			2,111
Additions		15,187			-			-			-			-			15,187
Disposals		(12	)		(23,674	)		(1,845	)		-			(262	)		(25,793	)

Balance as of December 31, 2023		47,388			-			74,039			133,749			246,352			501,528

Amortization
Balance as of January 1, 2022		14,876			29,786			28,223			39,961			-			112,846
Exchange rate differences		2			(585	)		(914	)		(198	)		-			(1,695	)
Additions		6,189			2,514			9,289			10,257			-			28,249
Disposals		(659	)		(19,570	)		(2,393	)		(4,851	)		-			(27,473	)
Balance as of December 31, 2022		20,408			12,145			34,205			45,169			-			111,927
Exchange rate differences		15			355			353			157			-			880
Additions		7,172			11,174			12,407			21,499			-			52,252
Disposals		(12	)		(23,674	)		(1,845	)		-			-			(25,531	)

Balance as of December 31, 2023		27,583			-			45,120			66,825			-			139,528

Carrying amounts
As of December 31, 2023		19,805			-			28,919			66,924			246,352			362,000
As of December 31, 2022		11,780			11,044			41,224			88,308			245,740			398,096

Capitalized development costs

Development costs capitalized in the period amounted to USD 14,222 thousand (2022: USD 8,743 thousand) and were classified under software.

Acceleration of Trademarks

As detailed in Note 1, following the decision to rebrand to Nexxen, the Group accelerated the amortization of its trademark assets, whose useful life ended on December 31, 2023.

Impairment testing for intangible assets

The Company's qualitative assessment during the years ended December 31, 2023, and December 31, 2022, did not indicate that it is more likely than not that the recoverable amount of its intangible assets, and other long-lived assets is less than their aggregate carrying amount.

As of December 31, 2023, and as of December 31, 2022, the estimated recoverable amount based on Company’s market value was lower than the carrying amount, and therefore the recoverable amount was estimated based on value in use and was determined by discounting the future cash flows. The estimated value in use was higher than the carrying amount, and therefore there was no need for impairment.

Key assumptions used in the calculation of recoverable amounts are as of December 31, 2023:

Post-tax discount rate	14% (WACC)
Terminal value growth rate	3%
EBITDA growth rate	26%-42%

Key assumptions used in the calculation of recoverable amounts are as of December 31, 2022:

Post-tax discount rate	15% (WACC)
Terminal value growth rate	3%
EBITDA growth rate	21%-33%

The cash flow projections include specific estimates for four years and a terminal value growth rate thereafter. EBITDA growth rate is expressed as the annual growth rate in the initial five years of the plans used for impairment testing and has been mainly based on past experience and management expectations.

CONTINGENT LIABILITY

12 Months Ended

Dec. 31, 2023

Disclosure Of Contingent Liability [Abstract]

CONTINGENT LIABILITY

NOTE 22:

CONTINGENT LIABILITY

On May 18, 2021, the Company filed a complaint against Alphonso, Inc. (“Alphonso”) in the Supreme Court of the State of New York, County of New York (the “Court”), asserting claims for breach of contract, tortious interference with business relations, intentional interference with contractual relations, unjust enrichment, and conversion.

The lawsuit arose out of Alphonso’s breach of a Strategic Partnership Agreement and an Advance Payment Obligation and Security Agreement (the “Security Agreement”) with us, and LG Electronics Inc.’s (“LG”) tortious interference with the Company’s contractual relationships and business relations and related misconduct. On February 23, 2024, the Company entered into a settlement and release agreement with Alphonso and LG and the parties have agreed to dismiss the Alphonso Lawsuit.

In March 2023, Alphonso remitted USD 11.3 million to the Company, comprising USD 7.25 million related to a secured advance repayment and USD 4.1 million related to additional interest, penalties and fees including reimbursement of certain legal fees.

On June 21, 2022, Alphonso filed a complaint against the Company in the United States District Court for the Northern District of California, asserting claims for misappropriation of trade secrets under federal and state law. On October 11, 2023, Alphonso dismissed its claims in the lawsuit with prejudice. On October 25, 2023, the Company filed a bill of costs to recover allowable legal costs from Alphonso. The Company’s request for tax costs is pending with the Court.

TRADE AND OTHER PAYABLES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Trade and other payables [abstract]
Trade payables	$ 183,296	$ 212,690
Other payables:
Contract liabilities	8,366	6,540
Wages, salaries and related expenses	13,319	24,539
Provision for vacation	1,922	1,869
Institutions	1,603	1,659
Interest to pay	1,757	1,504
Pledged deposits	284	362
Others	1,847	7,882
Total other payables	$ 29,098	$ 44,355

LEASES (Details 4) - USD ($) $ in Thousands	12 Months Ended
LEASES (Details 4) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Lease [Abstract]
Balance as of January 1,	$ 4,849	$ 5,682
Sublease receipts	(1,112)	(1,306)
Additions	2,248	310
Business combinations	0	163
Balance as of December 31,	$ 5,985	$ 4,849

BASIS OF PREPARATION (Detail Textuals) $ in Thousands	12 Months Ended
BASIS OF PREPARATION (Detail Textuals) $ in Thousands	Dec. 31, 2023 USD ($)
Disclosure Of Basis Of Preparation [Abstract]
Change in classification amount	$ 1,350

MATERIAL ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure Of Significant Accounting Policies [Abstract]

Disclosure of detailed information about fixed assets, estimated useful life

	Years
Computers and servers	3-5
Office furniture and equipment	3-17
Leasehold improvements	The shorter of the lease term and the useful life

Disclosure of detailed information about intangible assets estimated useful lives for the current and comparative periods

Trademark	Fully depreciated, See note 7
Software (developed and acquired)	3 years
Customer relationships	3-6 years
Technology	3-5.25 years

Disclosure of detailed information about depreciation of right-of-use asset

	☐	Buildings	1-8.5 years
	☐	Data centers	1-5.5 years

SHAREHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2023

Disclosure of classes of share capital [abstract]

SHAREHOLDERS’ EQUITY

NOTE 15:

SHAREHOLDERS’ EQUITY

Issued and paid-in share capital:

	Ordinary Shares
	2023			2022
	Number of shares

Balance as of January 1		144,477,962			154,501,629
Own shares held by the Group		(2,729,597	)		(16,906,795	)
Share based compensation		4,413,644			6,883,128

Issued and paid-in share capital as of December 31		146,162,009			144,477,962

Authorized share capital		500,000,000			500,000,000

Rights attached to share:

The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at general meetings of the Company. All shares rank equally with regard to the Company’s residual assets.

Own shares acquisition:

During 2022, the Board of Directors approved the share buyback programs of up to USD 95 million of its ordinary shares out of which the Group repurchased 16,906,795 ordinary shares in aggregate amount of USD 86.3 million and during 2023, the Company repurchased 2,505,851 ordinary shares in aggregate amount of USD 8.7 million which was financed by existing cash resources.

On December 18, 2023, the Company has received approval from the Israeli court for its motion to buy back an additional USD 20 million of its ordinary shares from time-to-time through June 18, 2024. In 2023, the Company repurchased 221,506 ordinary shares in aggregate amount of USD 0.6 million which was financed by existing cash resources.

In addition, in July 2023, the Group repurchased 2,240 restricted ordinary shares that did not vest from one of its employees for no consideration.

MATERIAL ACCOUNTING POLICIES (Details)	12 Months Ended
MATERIAL ACCOUNTING POLICIES (Details)	Dec. 31, 2023
Computers and Servers \| Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Expected useful life	3 years
Computers and Servers \| Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Expected useful life	5 years
Office furniture and equipment \| Minimum
Disclosure of detailed information about property, plant and equipment [line items]
Expected useful life	3 years
Office furniture and equipment \| Maximum
Disclosure of detailed information about property, plant and equipment [line items]
Expected useful life	17 years
Leasehold improvements
Disclosure of detailed information about property, plant and equipment [line items]
Expected useful life	The shorter of the lease term and the useful life

MATERIAL ACCOUNTING POLICIES (Details 2)	12 Months Ended
MATERIAL ACCOUNTING POLICIES (Details 2)	Dec. 31, 2023
Buildings \| Minimum
Disclosure of quantitative information about right-of-use assets [line items]
Depreciation of useful life of rights-of-use asset	1 year
Buildings \| Maximum
Disclosure of quantitative information about right-of-use assets [line items]
Depreciation of useful life of rights-of-use asset	8 years 6 months
Data centers \| Minimum
Disclosure of quantitative information about right-of-use assets [line items]
Depreciation of useful life of rights-of-use asset	1 year
Data centers \| Maximum
Disclosure of quantitative information about right-of-use assets [line items]
Depreciation of useful life of rights-of-use asset	5 years 6 months

INCOME TAX (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure Of Income Tax [Abstract]

Disclosure of composition of income tax benefit

	Year ended December 31
	2023			2022		2021
	USD thousands

Current tax expense (income)
Current year		(2,331	)		14,378		7,220

Deferred tax expense (income)
Creation and reversal of temporary differences		4,834			5,310		(8,168	)

Tax expenses (benefit)		2,503			19,688		(948	)

Disclosure of domestic and foreign components of income taxes

	Year ended December 31
	2023			2022		2021
	USD thousands

Domestic		(5,352	)		5,766		4,995
US		8,712			11,578		(961	)
International		(857	)		2,344		(4,982	)

Tax expenses (benefit)		2,503			19,688		(948	)

Disclosure of effective reconciliation of income taxes by tax rate

	Year ended December 31
	2023			2022			2021
	USD thousands

Profit (Loss) before taxes on income		(18,984	)		42,425			72,275

Primary tax rate of the Company		23	%		23	%		23	%

Tax calculated according to the Company’s primary tax rate		(4,366	)		9,758			16,623

Additional tax (tax saving) in respect of:
Non-deductible expenses net of tax exempt income (*)		3,329			11,642			(3,364	)
Difference between measurement basis of income/expenses for tax purposes and measurement basis of income/expenses for financial reporting purposes		-			(654	)		-
Effect of reduced tax rate on preferred loss (income)		4,963			(4,625	)		(7,226	)
Utilization of tax losses from prior years for which deferred taxes were not created		(90	)		(2,539	)		(1,117	)
Effect on deferred taxes at a rate different from the primary tax rate		892			2,697			(3,329	)
Recognition of deferred taxes for tax losses and benefits from previous years for which deferred taxes were not created in the past		(4,852	)		(1,104	)		(4,586	)
Recognition in temporary differences for which deferred taxes are not recognized		656			35			-
Foreign tax rate differential		1,971			4,478			2,051

Tax (benefit) expenses		2,503			19,688			(948	)

Effective income tax rate		(13	)%		46	%		(1	)%

(*)

including non- deductible share-based compensation expenses.

Disclosure of deferred tax assets and liabilities

	Intangible Assets and R&D expenses			Employees Compensation			Carryforward Losses			Accrued Expenses			Doubtful Debt			Other			Total
	USD thousands
Balance of deferred tax asset (liability) as of January 1, 2022		(5,587	)		12,074			9,835			2,939			3,099			676			23,036
Business combination		(11,313	)		1,502			7,857			1,322			973			2,158			2,499
Changes recognized in profit or Loss		5,019			(2,927	)		(2,486	)		(2,590	)		(1,332	)		(1,249	)		(5,565	)
Effect of change in tax rate		-			14			237			-			-			4			255
Changes recognized in equity		187			(3,417	)		(24	)		22			11			(5	)		(3,226	)
Balance of deferred tax asset (liability) as of December 31, 2022		(11,694	)		7,246			15,419			1,693			2,751			1,584			16,999


Discontinuance of Consolidation	168		(57	)	-	(532	)	(99	)	(1	)	(521	)
Changes recognized in profit or Loss	(524	)	(3,837	)	411	(960	)	643		(597	)	(4,864	)
Effect of change in tax rate	-		30		-	-		-		-		30
Changes recognized in equity	(79	)	(34	)	102	6		-		-		(5	)
Balance of deferred tax asset (liability) as of December 31, 2023	(12,129	)	3,348		15,932	207		3,295		986		11,639

EARNINGS (LOSS) PER SHARE (Tables)

12 Months Ended

Dec. 31, 2023

Earnings per share [abstract]

Disclosure of earnings per share

Profit (loss) for the year:

	Year ended December 31
	2023			2022		2021
	USD thousands

Profit (loss) for the year		(21,487	)		22,737		73,223

Weighted average number of ordinary shares:

	Year ended December 31
	2023			2022		2021
	Shares of NIS 0.01 par value

Weighted average number of ordinary shares used to calculate basic earnings (loss) per share as at December 31		143,589,188			149,937,339		144,493,989

Basic earnings (loss) per share (in USD)		(0.15	)		0.15		0.51

Weighted average number of ordinary shares (diluted):

	Year ended December 31
	2023			2022		2021
	Shares of NIS 0.01 par value

Weighted average number of ordinary shares used to calculate basic earnings per share		143,589,188			149,937,339		144,493,989
Effect of share options on issue		-			3,120,304		8,212,903

Weighted average number of ordinary shares used to calculate diluted earnings per share		143,589,188			153,057,643		152,706,892

Diluted earnings per share (in USD)		(0.15	)		0.15		0.48

FIXED ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about property, plant and equipment [abstract]

Disclosure of fixed assets, net

	Computers and Servers			Office furniture and equipment			Leasehold improvements			Total
	USD thousands
Cost

Balance as of January 1, 2022		8,839			445			770			10,054

Exchange rate differences		53			41			20			114
Additions *		8,375			5			5			8,385
Business combinations		22,256			351			647			23,254
Disposals		(892	)		(28	)		(336	)		(1,256	)

Balance as of December 31, 2022		38,631			814			1,106			40,551

Exchange rate differences		(7	)		(13	)		(23	)		(43	)
Additions *		3,783			63			779			4,625
Disposals		(482	)		(114	)		(94	)		(690	)

Balance as of December 31, 2023		41,925			750			1,768			44,443

Accumulated Depreciation

Balance as of January 1, 2022		5,698			269			623			6,590

Exchange rate differences		57			41			18			116
Disposals		(890	)		(28	)		(336	)		(1,254	)
Additions		4,957			61			207			5,225

Balance as of December 31, 2022		9,822			343			512			10,677
Exchange rate differences		(9	)		(8	)		(1	)		(18	)
Disposals		(482	)		(111	)		(93	)		(686	)
Additions		12,314			210			545			13,069

Balance as of December 31, 2023		21,645			434			963			23,042

Carrying amounts

As of December 31, 2023		20,280			316			805			21,401
As of December 31, 2022		28,809			471			594			29,874

* As of December 31, 2023, USD 2,030 thousand additions have not been paid (2022: USD 1,900 thousand).

MATERIAL ACCOUNTING POLICIES (Details 1)	12 Months Ended
MATERIAL ACCOUNTING POLICIES (Details 1)	Dec. 31, 2023
Trademarks
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Estimated useful life of intangible assets	Fully depreciated
Software (developed and acquired)
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Estimated useful life of intangible assets	3 years
Customer relationships \| Minimum
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Estimated useful life of intangible assets	3 years
Customer relationships \| Maximum
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Estimated useful life of intangible assets	6 years
Technology \| Minimum
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Estimated useful life of intangible assets	3 years
Technology \| Maximum
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Estimated useful life of intangible assets	5 years 3 months

SHAREHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of classes of share capital [abstract]

Disclosure of Issued and paid-in share capital

	Ordinary Shares
	2023			2022
	Number of shares

Balance as of January 1		144,477,962			154,501,629
Own shares held by the Group		(2,729,597	)		(16,906,795	)
Share based compensation		4,413,644			6,883,128

Issued and paid-in share capital as of December 31		146,162,009			144,477,962

Authorized share capital		500,000,000			500,000,000

OPERATING SEGMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
OPERATING SEGMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of geographical areas [line items]
Revenue	$ 331,993	$ 335,250	$ 341,945
America
Disclosure of geographical areas [line items]
Revenue	311,780	303,106	304,686
APAC
Disclosure of geographical areas [line items]
Revenue	6,537	20,031	20,931
EMEA
Disclosure of geographical areas [line items]
Revenue	$ 13,676	$ 12,113	$ 16,328