General form of registration statement for all companies including face-amount certificate companies

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.21.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 9 Months Ended
Sep. 30, 2021
Summary of Significant Accounting Policies [Line Items]  
Schedule of Restrictions on Cash and Cash Equivalents
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the statement of financial position to the consolidated statements of cash flows.

December 31,

2020
2019
Cash and cash equivalents
 $ 15,645  $ 11,641 
Restricted cash included in prepaid expenses and other current assets —  140 
Restricted cash included in restricted deposits
 447  416 
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows
$ 16,092  $ 12,197 
Schedule of Property, Plant and Equipment Depreciation is calculated by the straight-line method over the estimated useful lives of the assets, at the following annual rates:
Years
Computers and peripheral equipment
 3
Office furniture and equipment
5-7
Lease improvements The shorter of the lease term or the useful life of the asset
Property and equipment consist of the following:
December 31,

2020
2019
Cost:


Computers and peripheral equipment $ 1,260  $ 1,083 
Office furniture and equipment 633  577 
Leasehold improvements 2,162  1,496 

4,055  3,156 
Accumulated depreciation (1,730) (1,255)
Depreciated cost $ 2,325  $ 1,901 
Schedule of Finite-Lived Intangible Assets
Amortization is calculated over the estimated useful lives of the assets using straight-line amortization methods:
Years
Technology
 3
Customer relationships 1.5
Intangible assets consist of the following:
December 31,

2020
2019
Cost:
Technology
 $ 200  $ 200 
Customer relationships
 198  198 
398  398 
Accumulated depreciation
 (365) (166)
Amortized cost
 $ 33  $ 232 
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table present information about the Company’s financial instruments that are measured at fair value on a recurring basis:
September 30, 2021
(Unaudited)
Level 1
Level 2
Level 3
Assets:
Money market funds $ 11,013  $ —  $ — 
Liabilities:
Warrants liability $ —  $ —  $ 3,690 
December 31, 2020
Level 1
Level 2
Level 3
Assets:
Money market funds $ 9,009  $ —  $ — 
Liabilities:
Warrants liability $ —  $ —  $ 499 
The following table present information about the Company’s financial instruments that are measured at fair value on a recurring basis:
December 31, 2020

Level 1
Level 2
Level 3
Assets:
Money market funds $ 9,009  $ —  $ — 
Liabilities:
Warrants liability $ —  $ —  $ 499 

December 31, 2019

Level 1
Level 2
Level 3
Assets:
Money market funds $ 11,001  $ —  $ — 
Liabilities:
Warrants liability $ —  $ —  $ 413 
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The change in the fair value of the Warrants liability is summarized below:
September 30, December 31
2021 2020
(Unaudited)
Beginning of the period
 $ 499  $ 413 
Change in fair value 3,191  86 
End of the period
$ 3,690  $ 499 
The change in the fair value of the Warrants liability is summarized below:

December 31,

2020
2019
Beginning of the year
 $ 413  $ 389 
Change in fair value 86  24 
End of the year 499  413 
Schedules of Concentration of Risk, by Risk Factor
During the nine months ended September 30, 2021 (unaudited) and 2020 (unaudited), one of the Company’s customers accounted for the Company’s total revenues as presented below:
Nine months ended September 30,
2021 2020
(Unaudited) (Unaudited)
Customer A
 8  % 10  %
During the years ended December 31, 2020 and 2019, two of the Company’s customers accounted for approximately 18% and 21%, respectively, of the Company’s total revenues as presented below:
Year ended December 31,

2020
2019
Customer A
 8 % 11  %
Customer B
 10 % 10  %

18 % 21  %
ION Acquisition Corp 2 LTD  
Summary of Significant Accounting Policies [Line Items]  
Schedule of Shares Reflected in the Condensed Balance Sheets
At September 30, 2021 and December 31, 2020, the Class A ordinary shares reflected in the condensed balance sheets are reconciled in the following table:
Gross proceeds $ 253,000,000 
Less:
Proceeds allocated to Public and Private Warrants $ (30,065,074)
Class A ordinary shares issuance costs $ (14,138,380)
Plus:
Proceeds received from issuance of Private Warrants $ 7,060,000 
Accretion of carrying value to redemption value $ 37,143,454 
Class A ordinary shares subject to possible redemption
$ 253,000,000 
At February 16, 2021, the Class A ordinary shares reflected in the balance sheet is reconciled in the following table:
Gross proceeds $ 253,000,000 
Less:
Proceeds allocated to Public and Private Placement Warrants
 (30,065,074)
Class A ordinary shares issuance costs
 (14,138,380)
Plus:
Proceeds received from issuance of Private Placement Warrants
 7,060,000 
Accretion of carrying value to redemption value
 37,143,454 
Class A ordinary shares subject to possible redemption
$ 253,000,000 
Schedule of Basic and Diluted Net Income (Loss) per Ordinary Share
The following tables reflect the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts):
Three Months Ended
September 30, 2021		 Nine Months Ended
September 30, 2021
Class A Class B Class A Class B
Basic and diluted net income (loss) per ordinary share
Numerator:
Allocation of net loss $ (1,238,910 ) $ (309,728) $ (3,218,079) $ (950,008)
Accretion of temporary equity to redemption value $ 37,143,454 
Allocation of net income (loss), as adjusted $ (1,238,910 ) $ (309,728) $ 33,925,375  $ (950,008)
Denominator:
Basic and diluted weighted average shares outstanding $ 25,300,000  $ 6,325,000  $ 20,944,322  $ 6,182,967 
Basic and diluted net income (loss) per ordinary share $ (0.05) $ (0.05) $ 1.62  $ (0.15)