v3.25.2
Operating Segments and Geographical Information
 6 Months Ended
Jun. 30, 2025
Operating Segments and Geographical Information [Abstract]  
OPERATING SEGMENTS AND GEOGRAPHICAL INFORMATION
NOTE 4 - OPERATING SEGMENTS AND GEOGRAPHICAL INFORMATION:

 

The Company operates its business and reports its financial results in four operating segments:

 

a.Architecture – this segment focuses on sales for both interior and exterior applications for commercial, retail, residential, healthcare and hospitality customers.

 

b.Automotive – this segment focuses on sales that enable OEMs to incorporate Company’s technology into glass rooftops, side windows and windshields to replace conventional mechanical sun visors and shades.

 

c.Safety tech – this segment focuses on sales of advanced driver assistance systems for buses, coaches, recreational vehicles and specific vehicles, such as camera and motion sensor systems, smart mirrors and safety doors.

 

d.Aeronautics - this segment focuses on the sale of shading and cabin management systems in private and commercial aircraft and helicopters.

 

The Company’s Chief Executive Officer (“CEO”), was identified as the chief operating decision maker (“CODM”). The CODM reviews the financial information based on the Group’s disaggregated information about revenues and gross margin, once a quarter, including budget-to-actual variances, to make decisions about resources to be allocated to the segments and assess their performance. Segment revenues, expenses and gross margin exclude intersegment transactions. The CODM does not make operating and investing decisions based on assets, and as such does not review asset information per segment.

e.Segment Information:

 

   For the period of six months ended June 30, 2025 
   Aeronautics   Architecture   Automotive   Safety tech   Total 
Revenues from external customers  $14,507   $4,903   $2,897   $20,114   $42,421 
Intersegment revenues   25    
-
    37    
-
    62 
Cost of revenue   9,921    3,163    2,315    15,987    31,386 
Depreciation and amortization   422    121    122    352    1,017 
Gross profit  $4,164   $1,619   $460   $3,775   $10,018 

 

   For the period of six months ended June 30, 2024 
   Aeronautics   Architecture   Automotive   Safety tech   Total 
Revenues from external customers  $20,181   $5,255   $2,218   $21,484   $49,138 
Intersegment revenues   1,761    104    
-
    
-
    1,865 
Cost of revenue   11,465    3,491    2,751    17,623    35,330 
Depreciation and amortization   490    88    
-
    423    1,001 
Gross profit (loss)  $8,226   $1,676   $(533)  $3,438   $12,807 

 

   For the period of three months ended June 30, 2025 
   Aeronautics   Architecture   Automotive   Safety tech   Total 
Revenues from external customers  $6,862   $2,489   $1,406   $9,297   $20,054 
Intersegment revenues   
-
    
-
    
-
    
-
    
-
 
Cost of revenue   5,064    1,584    1,123    7,478    15,249 
Depreciation and amortization   222    62    63    172    519 
Gross profit  $1,576   $843   $220   $1,647   $4,286 

 

   For the period of three months ended June 30, 2024 
   Aeronautics   Architecture   Automotive   Safety tech   Total 
Revenues from external customers  $10,045   $2,625   $912   $10,827   $24,409 
Intersegment revenues   782    104    
-
    
-
    886 
Cost of revenue   6,056    1,661    1,060    8,546    17,323 
Depreciation and amortization   236    48    
-
    210    494 
Gross profit (loss)  $3,753   $916   $(148)  $2,071   $6,592 

 

   For the three months ended,
June 30		  

For the six months, ended

June 30

 
   2025   2024   2025   2024 
Total revenues for reportable segments  $20,054   $25,295   $42,483   $51,003 
Elimination of intersegment revenues   
-
    (886)   (62)   (1,865)
Total consolidated revenues   20,054    24,409    42,421    49,138 
                     
Total reportable segment profit   4,286    6,592    10,018    12,807 
Amounts not allocated to segments:                    
Research and development expenses, net   4,868    4,131    8,325    8,512 
General and administrative expenses   6,076    5,271    11,773    11,400 
Sales and marketing expenses   4,142    4,153    7,811    8,443 
Depreciation and amortization   1,710    1,021    3,312    2,042 
Other expenses, net   
-
    (63)   
-
    (38)
Consolidated operating loss   (12,510)   (7,921)   (21,203)   (17,552)
Other income   
-
    130    
-
    130 
Financial expenses, net   1,790    (15,274)   (240)   (18,828)
Consolidated loss before income taxes  $(10,720)  $(23,065)  $(21,443)  $(36,250)
f.Geographical information:

 

The following table summarizes revenue by region based on the shipping address of customers:

 

   For the three months ended
June 30		   For the six months ended
June 30		 
   2025   2024   2025   2024 
United States  $3,901   $6,686   $9,196   $13,954 
Israel   472    171    956    432 
France   6,618    7,280    12,003    12,375 
United Kingdom   1,870    2,025    5,152    3,760 
Rest of Europe   4,551    3,576    9,115    9,766 
Asia   2,030    3,779    4,454    6,747 
Rest of world   612    892    1,545    2,104 
   $20,054   $24,409   $42,421   $49,138