CAESARSTONE LTD., 20-F filed on 3/5/2025
Annual and Transition Report (foreign private issuer)
v3.25.0.1
Document and Entity Information
 12 Months Ended
Dec. 31, 2024
shares
Document Information [Line Items]  
Entity Registrant Name CAESARSTONE LTD.
Entity Central Index Key 0001504379
Document Type 20-F
Amendment Flag false
Document Annual Report true
Document Transition Report false
Document Shell Company Report false
Document Period End Date Dec. 31, 2024
Document Registration Statement false
Entity File Number 001-35464
Entity Incorporation, State or Country Code IL
Entity Address, Address Line One Kibbutz Sdot-Yam
Entity Address, City or Town MP Menashe
Entity Address Country IL
Entity Address, Postal Zip Code 3780400
Title of 12(b) Security Ordinary shares, par value NIS 0.04 per share
Trading Symbol CSTE
Name of Exchange on which Security is Registered NASDAQ
Entity Common Stock, Shares Outstanding 34,549,050
Entity Well-known Seasoned Issuer No
Entity Voluntary Filers No
Entity Current Reporting Status Yes
Entity Interactive Data Current Yes
Entity Filer Category Accelerated Filer
Entity Emerging Growth Company false
Document Accounting Standard U.S. GAAP
ICFR Auditor Attestation Flag true
Entity Shell Company false
Current Fiscal Year End Date --12-31
Document Fiscal Year Focus 2024
Document Fiscal Period Focus FY
Auditor Name KOST FORER GABBAY & KASIERER
Auditor Location Tel-Aviv, Israel
Auditor Firm ID 1281
Document Financial Statement Error Correction [Flag] false
Grant Thornton Audit Pty Ltd. [Member]  
Document Information [Line Items]  
Auditor Name Grant Thornton Audit Pty Ltd.
Auditor Location Melbourne, Australia
Auditor Firm ID 2233
Business Contact [Member]  
Document Information [Line Items]  
Contact Personnel Name Yosef (Yos) Shiran
Entity Address, Address Line One Kibbutz Sdot-Yam
Entity Address, City or Town MP Menashe
Entity Address Country IL
Entity Address, Postal Zip Code 3780400
City Area Code 972
Local Phone Number 636-4555
v3.25.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 57,336 $ 54,623
Short-term bank deposits 49,000 36,500
Trade receivables (net of allowance for credit loss of $9,104 and $12,214 at December 31, 2024 and 2023, respectively) 46,880 66,888
Other accounts receivable and prepaid expenses 49,505 25,489
Held for sale asset 33,146 0
Inventories 112,609 136,446
Total current assets 348,476 319,946
LONG-TERM ASSETS:    
Severance pay fund 1,526 1,994
Deferred tax assets, net 2,910 3,061
Long-term deposits and other 4,750 4,961
Property, plant and equipment, net 75,724 123,480
Operating lease right-of-use assets [1] 115,392 120,156
Intangible assets, net 263 6,257
Total long-term assets 200,565 259,909
Total assets 549,041 579,855
CURRENT LIABILITIES:    
Short-term bank credit and current maturities of long- term bank loan 4,555 5,118
Trade payables 52,838 42,848
Related party 206 257
Short term legal settlements and loss contingencies 42,706 16,106
Accrued expenses and other liabilities 51,383 56,894
Total current liabilities 151,688 121,223
LONG-TERM LIABILITIES:    
Long-term loan from related parties 444 479
Long-term bank loan 0 2,070
Accrued severance pay 2,978 3,065
Deferred tax liabilities, net 2,439 3,006
Long-term warranty provision 902 1,204
Long term legal settlements and loss contingencies 9,492 11,814
Long-term operating lease liabilities 107,313 114,146
Total long-term liabilities 123,568 135,784
COMMITMENTS AND CONTINGENT LIABILITIES
REDEEMABLE NON-CONTROLLING INTEREST 2,200 7,789
Share capital-    
Ordinary shares of NIS 0.04 par value - 200,000,000 shares authorized at December 31, 2024 and 2023; 35,652,146 and 35,635,548 issued at December 31, 2024 and 2023, respectively; 34,549,050 and 34,532,452 shares outstanding at December 31, 2024 and 2023, respectively 371 371
Additional paid-in capital 166,500 164,456
Capital fund related to non-controlling interest (5,587) (5,587)
Accumulated other comprehensive loss, net (14,870) (8,402)
Retained earnings 164,601 203,651
Treasury shares at cost - 1,103,096 ordinary shares at December 31, 2024 and 2023 (39,430) (39,430)
Total equity 271,585 315,059
Total liabilities and equity $ 549,041 $ 579,855
[1] Following the closure of Sdot Yam plant, the Company evaluated it's right of use asset resulted from non-cancelable lease agreement effective through 2032. Based on future estimated sublease the Company recorded an impairment of $16,575 during 2023. No additional impairment was identified during 2024.
v3.25.0.1
CONSOLIDATED BALANCE SHEETS (Parenthetical)
$ in Thousands
Dec. 31, 2024
USD ($)
shares
Dec. 31, 2023
USD ($)
shares
Statement of Financial Position [Abstract]    
Trade receivables, allowance for credit loss | $ $ 9,104 $ 12,214
Ordinary shares, shares authorized 200,000,000 200,000,000
Ordinary shares, shares issued 35,652,146 35,635,548
Ordinary shares, shares outstanding 34,549,050 34,532,452
Treasury shares 1,103,096 1,103,096
v3.25.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Revenues $ 443,221 $ 565,231 $ 690,806
Cost of revenues 346,546 473,292 527,561
Gross profit 96,675 91,939 163,245
Operating expenses:      
Research and development 4,950 5,086 4,098
Selling and marketing 86,239 82,222 94,412
General and administrative 39,123 49,490 51,596
Impairment of goodwill and long lived assets, restructuring and other related costs, net of other income 1,007 47,939 71,258
Legal settlements and loss contingencies, net 7,242 (4,770) 568
Total operating expenses 138,561 179,967 221,932
Operating loss (41,886) (88,028) (58,687)
Finance expenses (income), net 9 (1,069) (3,079)
Loss before taxes on income (41,895) (86,959) (55,608)
Taxes on income 1,081 21,281 758
Net loss (42,976) (108,240) (56,366)
Net income (loss) attributable to non-controlling interest (144) (584) 688
Net loss attributable to controlling interest $ (42,832) $ (107,656) $ (57,054)
Basic net loss per share of Ordinary shares $ (1.13) $ (3.13) $ (1.66)
Diluted net loss per share of Ordinary shares $ (1.13) $ (3.13) $ (1.66)
Weighted average number of Ordinary shares used in computing basic loss per share 34,539 34,519 34,488
Weighted average number of Ordinary shares used in computing diluted loss per share 34,539 34,519 34,488
v3.25.0.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Net loss $ (42,976) $ (108,240) $ (56,366)
Other comprehensive income (loss) before tax:      
Foreign currency translation adjustments (6,146) 38 (8,932)
Unrealized income (loss) on foreign currency cash flow hedge (418) 764 (699)
Unrealized income (loss) on available for sale marketable securities 0 100 (84)
Income tax (expense) benefit related to components of other comprehensive income (loss) (11) 212 (11)
Total other comprehensive income (loss), net of tax (6,575) 1,114 (9,726)
Comprehensive loss (49,551) (107,126) (66,092)
Less - comprehensive loss attributable to non-controlling interest 251 646 164
Comprehensive loss attributable to controlling interest $ (49,300) $ (106,480) $ (65,928)
v3.25.0.1
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
$ in Thousands
Common Stock [Member]
Additional paid-in capital [Member]
Retained earnings [Member]
Accumulated other comprehensive income (loss), net [Member]
Capital fund related to non-controlling interest [Member]
Treasury shares [Member]
Total
Balance at Dec. 31, 2021 $ 371 $ 161,929 $ 377,716 $ (704) [1] $ (5,587) $ (39,430) $ 494,295
Balance, shares at Dec. 31, 2021 34,473,070            
Other comprehensive income (loss) [1] $ 0 0 0 (8,874) 0 0 (8,874)
Net loss attributable to controlling interest 0 0 (57,054) 0 [1] 0 0 (57,054)
Equity-based compensation expense [2] 0 1,502 0 0 [1] 0 0 1,502
Adjustment to redemption value of the non-controlling interest 0 0 (198) 0 [1] 0 0 (198)
Dividend paid 0 0 (8,625) 0 [1] 0 0 (8,625)
Cashless exercise of options and RSUs [3] [3] 0 0 [1] 0 0 0
Cashless exercise of options and RSUs, Shares 34,233            
Balance at Dec. 31, 2022 $ 371 163,431 311,839 (9,578) [1] (5,587) (39,430) 421,046
Balance, shares at Dec. 31, 2022 34,507,303            
Other comprehensive income (loss) [1] $ 0 0 0 (1,176) 0 0 (1,176)
Net loss attributable to controlling interest 0 0 (107,656) 0 [1] 0 0 (107,656)
Equity-based compensation expense [2] 0 1,025 0 0 [1] 0 0 1,025
Adjustment to redemption value of the non-controlling interest 0 0 (532) 0 [1] 0 0 (532)
Dividend paid             (8,625)
Cashless exercise of options and RSUs [3] [3] 0 0 [1] 0 0 0
Cashless exercise of options and RSUs, Shares 25,149            
Balance at Dec. 31, 2023 $ 371 164,456 203,651 (8,402) [1] (5,587) (39,430) $ 315,059
Balance, shares at Dec. 31, 2023 34,532,452           34,532,452
Other comprehensive income (loss) [1] $ 0 0 0 (6,468) 0 0 $ (6,468)
Net loss attributable to controlling interest 0 0 (42,832) 0 [1] 0 0 (42,832)
Equity-based compensation expense [2] 0 2,044 0 0 [1] 0 0 2,044
Adjustment to redemption value of the non-controlling interest 0 0 3,782 0 [1] 0 0 3,782
Cashless exercise of options and RSUs [3] [3] 0 0 [1] 0 0 0
Cashless exercise of options and RSUs, Shares 16,598            
Balance at Dec. 31, 2024 $ 371 $ 166,500 $ 164,601 $ (14,870) [1] $ (5,587) $ (39,430) $ 271,585
Balance, shares at Dec. 31, 2024 34,549,050           34,549,050
[1] Accumulated other comprehensive income (loss), net, comprised of foreign currency translation, hedging transactions and marketable securities, see also notes 2 and 3.
[2] See also Note 13.
[3] Less than $1.
v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net loss $ (42,976) $ (108,240) $ (56,366)
Adjustments required to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 17,134 30,007 36,344
Share-based compensation expense 2,044 1,025 1,502
Accrued severance pay, net 392 (268) (58)
Changes in deferred tax, net (621) 11,905 (5,693)
Capital loss from sale of property, plant and equipment 980 18 67
Decrease in trade receivables 18,748 11,760 2,612
Decrease in other accounts receivable and prepaid expenses 6,857 8,145 3,645
Decrease (increase) in inventories 20,128 101,549 (40,884)
Increase (decrease) in trade payables 8,952 (29,465) (21,032)
Increase in warranty provision (579) (165) (119)
Legal settlements and loss contingencies, net 7,242 (4,770) 568
Decrease in right of use assets 3,371 7,865 28,056
Decrease in lease liabilities (5,006) (9,516) (36,478)
Contingent consideration related to acquisition (53) 264 120
Amortization of premium and accretion of discount on marketable securities, net 0 63 238
Changes in accrued interest related to marketable securities 0 39 74
Impairment of goodwill and long lived assets, restructuring and other related costs, net of other income 1,007 47,939 71,258
Decrease in accrued expenses and other liabilities including related party (5,746) (1,626) (7,165)
Net cash (used in) provided by operating activities 31,874 66,529 (23,311)
Cash flows from investing activities:      
Net cash paid for acquisitions (1,556) 0 (2,245)
Investment in short-term deposits (12,500) (36,500) 0
Purchase of property, plant and equipment (10,421) (11,168) (17,801)
Proceeds from sale of property, plant and equipment 67 177 12
Sale and maturity of marketable securities 0 7,100 12,401
Proceeds from (investment in) long-term deposits 51 (135) 348
Net cash used in investing activities (24,359) (40,526) (7,285)
Cash flows from financing activities:      
Dividend paid 0 0 (8,625)
Proceeds (repayment) of short-term bank credit and loans, net (2,545) (23,268) 18,640
Contingent and deferred considerations related to acquisition (500) (511) 0
Repayment of a financing liability of land 0 0 (859)
Net (cash used) provided by financing activities (3,045) (23,779) 9,156
Effect of exchange rate differences on cash and cash equivalents (1,757) 318 (794)
Increase (decrease) in cash and cash equivalents 2,713 2,542 (22,234)
Cash and cash equivalents at beginning of year 54,623 52,081 74,315
Cash and cash equivalents at end of year 57,336 54,623 52,081
Cash received (paid) during the year for:      
Interest paid (548) (716) (1,159)
Interest received 4,003 849 439
Tax paid (3,117) (1,852) (4,968)
Non cash activity during the year for:      
Changes in trade payables balances related to purchase of property, plant and equipment 106 188 (925)
Operating lease liabilities and right-of-use assets $ 22,120 $ 19,364 $ 18,569
v3.25.0.1
GENERAL
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
GENERAL
NOTE 1:-
GENERAL
 
  a.
General:
 
Caesarstone Ltd. incorporated under the laws of the State of Israel, was founded in 1987.
 
Caesarstone Ltd. and its subsidiaries (collectively, the "Company" or "Caesarstone") develop, manufacture and market, high quality engineered stone and other materials sold under the Company's premium Caesarstone brand. The Company's products are sold in over 60 countries through a combination of direct sales in certain markets and indirectly through a network of independent distributors in other markets. The Company's products are primarily used as kitchen countertops in the renovation and remodeling markets and in the new buildings’ construction market. Other applications include vanity tops, wall panels, back splashes, floor tiles, stairs and other interior surfaces that are used in a variety of residential and non-residential applications.
 
The Company has subsidiaries in Australia, Singapore, Canada, United Kingdom, Sweden, India and the United States which are engaged in the manufacturing, marketing and selling of the Company's products in different geographic areas. The Company also established during 2024 a new wholly owned subsidiary in Germany, without any operations in 2024.
 
The Company currently manufactures its engineered surfaces in two manufacturing facilities located in Bar-Lev Industrial Park in northern Israel and in Morbi, India, through its subsidiary (see also b below).
 
  b.
Acquisition of Lioli Ceramica Pvt Ltd:
 
On October 5, 2020, the Company completed the acquisition of 55% of the shares of Lioli Ceramica Pvt Ltd ("Lioli"), a producer of porcelain countertop slabs in the total net consideration of $13,574.
 
The consideration included a contingent consideration arrangement that requires the Company to pay up to approximately $10,000 of additional consideration to Lioli’s minority shareholders subject to reaching certain EBITDA achievement. The fair value of the contingent consideration arrangement at the acquisition date was $1,492. During 2021 the criteria was partially met, and an additional related consideration amount of approximately $1,780 paid during 2021.
 
As part of the agreement, the Company granted Lioli’s minority shareholders a put option and Lioli’s minority shareholders granted the Company a call option for its interest, each exercisable any time after April 1, 2024 and before the 20th anniversary of the acquisition date based on a mechanism as set forth in the agreement between the parties.

 

During March 2022, the Company participated in rights offering in Lioli, and purchased additional 9,870,000 shares in amount of approximately $2.5 million. Following this offering, the Company holds 60.4% of Lioli's shares.
 
During July 2024, the Company exercised part of its call option purchasing additional $10.7 million shares in Lioli from the minority, in amount of approximately $1.6 million. Following this purchase, the Company holds 80.7% of Lioli's shares. The Company also provided a notice of call option exercise during December to acquire the remaining minority shares in Lioli.
 
As of December 31, 2024 and 2023, the Company revaluated its minority’s Put Option, in accordance with ASC 820 "Fair Value Measurements and Disclosures", at level 3, and based on it the non-controlling interest fair value in Lioli amounted to $2,200 and $7,789, respectively.
 
  c.
Acquisition of Omicron Supplies, LLC:
 
On December 31, 2020, the Company, through its fully owned U.S. subsidiary, completed the acquisition of 100% of the shares of Omicron Supplies, LLC ("Omicron"), a stone supplier in the U.S., for a total net cash consideration of $18,830.
 
  d.
Acquisition of Magrab Naturtsen AB:
 
On July 6, 2022, the Company completed the acquisition of 100% of the shares of Magrab Naturtsen AB ("Magrab"), a stone supplier in Sweden, for a total net consideration of approximately $3,109.
 
The consideration included a deferred consideration arrangement that requires the Company to pay up to approximately SEK 10,500 (approximately $1,000) of additional consideration to Magrab’s former shareholder to be paid during two years following the acquisition date. The fair value of the deferred consideration arrangement at the acquisition date was $875. The acquisition agreement included additional consideration in a form of an earn-out arrangement with Magrab’s former shareholder, that requires the Company to pay up to approximately SEK 4,000 (approximately $380) of additional amounts subject to reaching certain revenues and EBITDA achievements during two years following the acquisition date. In order to receive the earn-out payments Magrab's former shareholder have to remain as a full-time employee of the Company at the expiry of the earn-out periods, and therefore this earn-out arrangement does not meet the cotingent consideration under ASC805 "Business Combinations”.
 
The Magrab acquisition was accounted for as a business combination in accordance with ASC 805 "Business Combinations”.
 
During 2023, the Company paid the first payment for the above mentioned considerations in the amount of approximately SEK 7,250 (approximately $700). During 2024, the Company paid the second and last payment for the above mentioned considerations in the amount of approximately SEK 5,250 (approximately $500).
 
  e.
Bodily injury claims:
 

As of December 31, 2024, the Company was subject to 368 lawsuits alleging injuries associated with exposure of fabricators and their employees to respirable crystalline silica dust. Of these lawsuits, 124 were in Israel, 122 in Australia and 122 in the United States. The Company was subject to an adverse jury decision in August 2024 in the United States, that apportioned the Company with damages of $13.0 million which the Company is appealing. In addition, the Company settled another claim in the United States. As of December 31, 2024, the Company had recorded a provision of $50.0 million representing its assessment of exposure that is probable and estimable with respect to pending claims in Israel, Australia and the United States. The Company also recorded insurance asset in the amount of $32.2 million with respect to those claims. The Company estimated the loss for the remaining 120 claims in the United States. as only reasonably possible (with a range of $0.5-$13 million per claim) or at an early stages in which the amount of the possible loss cannot be reasonably estimated at this time given the preliminary stages, complexity of the claims and the uncertainty as to the liability of the Company and the scope of insurance coverage. If there is a change in the assessment for the outcome of the claims or the insurance coverage through the course of the trial processes, the Company may be adversely impacted and it could lead to a material and adverse impact on Company’s business, financial position, results of operations or cash flows. If such adverse impact occurs, depending on its magnitude, the Company believes it can implement cost reduction measures, and pursue other steps to mitigate it (see also note 11).
v3.25.0.1
SIGNIFICANT ACCOUNTING POLICIES
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
SIGNIFICANT ACCOUNTING POLICIES
NOTE 2:-
SIGNIFICANT ACCOUNTING POLICIES
 
The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP").
 
  a.
Use of estimates:
 
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. The Company's management believes that the estimates, judgment and assumptions used are reasonable based upon information available at the time they were made.
 
  b.
Financial statements in U.S. dollars:
 
The Company's revenues are generated in various currencies mainly in U.S. dollars (USD), Australian dollars (AUD) and Canadian dollars (CAD). In addition, most of the Company's costs are incurred in USD, NIS and EUR.
 
The Company’s management believes that the USD is the primary currency of the economic environment in which the Company operates. Thus, the functional and reporting currency of the Company is the USD.
 
The functional currency of the Company's foreign subsidiaries is the local currency in which the relevant subsidiary operates.
 
Accordingly, monetary accounts maintained in currencies other than the USD are re-measured into dollars in accordance with Accounting Standards Codification, "Foreign Currency Matters" (“ASC 830”). All transaction gains and losses resulting from the re-measurement of monetary balance sheet items denominated in non-USD currencies are reflected in the statements of operations as financial income or expenses as appropriate.
 
The financial statements of the Company’s subsidiaries of which the functional currency is not the USD have been translated into the USD. All amounts on the balance sheets have been translated into the USD using the exchange rates in effect on the relevant balance sheet dates. All amounts in the statements of income have been translated into the USD using the monthly average exchange rate in accordance with ASC 830. The resulting translation adjustments are reported as a component of accumulated other comprehensive income (loss), net in shareholders' equity.
 
  c.
Principles of consolidation:
 
The consolidated financial statements include the accounts of the Company and its wholly and majority-owned subsidiaries (see also Note 1). Inter-company transactions and balances, including profit from inter-company sales not yet realized outside of the Company, have been eliminated upon consolidation.

 

  d.
Cash equivalents:
 
Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three months or less at the date acquired.
 
  e.
Short-term bank deposits:
 
Short-term bank deposits are deposits with original maturities of more than three months but less than one year. Short-term bank deposits are presented at their cost, which approximates their fair value.
 
  f.
Derivatives:
 
ASC 815, “Derivative and Hedging” ("ASC 815"), requires companies to recognize all of their derivative instruments as either assets or liabilities in the statement of financial position at fair value.
 
For those derivative instruments that are designated and qualify as hedging instruments, a company must designate the hedging instrument, based upon the exposure being hedged, as a fair value hedge, cash flow hedge or a hedge of a net investment in a foreign operation.
 
Derivative instruments designated as hedging instruments:
 
For derivative instruments that are designated and qualify as a cash flow hedge (i.e., hedging the exposure to variability in expected future cash flows that is attributable to a particular risk), the effective portion of the gain or loss on the derivative instrument is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same period during which the hedged transaction affects earnings.
 
The remaining gain or loss on the derivative instrument in excess of the cumulative change in the present value of future cash flows of the hedged item, if any, is recognized in current earnings during the period of change. For derivative instruments not designated as hedging instruments, the gain or loss is recognized in current earnings during the period of change.
 
To hedge against the risk of overall changes in cash flows resulting from foreign currency salary and other recurring payments during the periods, the Company has instituted a foreign currency cash flow hedging program.
 
These forward contracts are designated as cash flow hedges, as defined by ASC 815, and are all effective, as their critical terms match the underlying transactions being hedged.
 
As of December 31, 2024 and 2023, the notional amount of these forward contracts into which the Company entered was $2,525 and $21,162, respectively, and the unrealized income recorded in accumulated other comprehensive income, net, from the Company's currency forward NIS transactions was $110 and $539, respectively.

 

The following tables present fair value amounts of, and gains and losses recorded in relation to, the Company's derivative instruments and related hedged items:

 

             
Balance sheet
  
Fair value of
derivative instruments
  
                        
Year ended
December 31,
  
                 
2024
    
2023
  
Derivative assets:
                          
                           
Derivatives designated as hedging instruments:
                              
Foreign exchange option and forward contracts
                
Other accounts receivable and prepaid expenses
    
110
      
539
  
                                   
                                   
Total
                
 
    
110
      
539
  
 
   
Gain (loss) recognized in other comprehensive income, net
  
Gain (loss) recognized in
statements of income
  
   
Year ended
December 31,
  
Statements of income
  
Year ended
December 31,
  
   
2024
    
2023
  
Item
  
2024
    
2023
  
Derivatives designated as hedging instruments:
                          
                           
Foreign exchange forward contract
    
(429
)
    
951
  
Cost of revenues and Operating expenses
    
500
      
(3,306
)
 
                
 
                
Derivatives not designated as hedging instruments:
                
 
                
Foreign exchange forward and options contracts
    
-
      
-
  
Financial expenses, net
    
6
      
1,313
  
Styrene forward contracts
    
-
      
-
  
Financial expenses, net
    
-
      
113
  
 
                
 
                
Total
    
(429
)
    
951
  
 
    
506
      
(1,880
)

 

  h.
Inventories:
 
Inventories are stated at the lower of cost and net realizable value. The Company periodically evaluates the quantities on hand relative to historical and projected sales volumes, aging, current and historical selling prices and contractual obligations to maintain certain levels of raw material quantities. Based on these evaluations, inventory provision is provided to cover risks arising from slow-moving items, discontinued products, excess inventories, net realizable value lower than cost and adjusted revenue forecasts.
 
Cost is determined as follows:
 
Raw Materials - cost is determined on a standard cost basis which approximates actual costs on a weighted average basis.
 
Work-in progress and finished products - are based on standard cost (which approximates actual cost on a weighted average basis) which includes raw materials cost, labor and manufacturing overhead.
 
Finished goods are stated at the lower of cost and net realizable value.
 
The following table provides the details of the change in the Company's provision for inventory write-downs:

 

   
December 31,
  
   
2024
    
2023
  
             
Inventory provision, beginning of year
  
$
27,438
    
$
21,738
  
Increase (decrease) in inventory provision
    
(4,208
)
    
9,848
  
Write off
    
(3,290
)
    
(4,148
)
                 
Inventory provision, end of year
  
$
19,940
    
$
27,438
  

 

  i.
Property, plant and equipment, net:
 
  1.
Property, plant and equipment are stated at cost, net of accumulated depreciation and investment grants.
 
  2.
Costs recorded prior to a production line completion are reflected as construction in progress, which are recorded building and machinery assets at the date of purchase. Construction in progress includes direct expenditures for the construction of the production line and is stated at cost. Capitalized costs include costs incurred under the construction contract: advisory, consulting and direct internal costs (including labor) and operating costs incurred during the construction and installation phase.
 
  3.
Depreciation is calculated using the straight-line method over the estimated useful life of the assets at the following annual rates:

 
 
%
   
Machinery and manufacturing equipment
4 - 33 (mainly 10)
Office equipment and furniture
7 - 33 (mainly 7)
Motor vehicles
10 - 30 (mainly 20)
Buildings
4 - 5
Leasehold improvements
Over the shorter of the term of the lease or the life of the asset
 
  j.
Leases:
 
The Company determines if an arrangement is a lease at inception and recognize in accordance with ASC 842 “Leases”. Operating leases are included in operating lease right-of-use (“ROU”) assets, other current liabilities and operating lease liabilities in the Company’s consolidated balance sheets.
 
ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term.
 
The Company uses incremental borrowing rates based on the Company's implied credit rating which was based on Moody's Investors Service Rating Methodology for the Building Materials Industry (such credit rating was notched up due to collateralization) at commencement date. The operating lease ROU asset also includes any lease payments made and excludes lease incentives, if any. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expenses for lease payments are recognized on a straight-line basis over the lease term. See also Note 10.
 
  k.
Impairment of long-lived assets:
 
The Company's long-lived assets (assets group) to be held or used, including right of use assets, tangible and finite-lived intangible assets (other than goodwill), are reviewed for impairment in accordance with ASC 360 "Property, Plant and Equipment" ("ASC 360") whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.
 
The Company's evaluation of recoverability is performed at the lowest level of assets group to which identifiable cash flows are largely independent of the cash flows of other asset group. Recoverability of the asset group is measured by a comparison of the aggregate undiscounted future cash flows the asset group is expected to generate to the carrying amounts of the asset group. If such evaluation indicates that the carrying amount of the asset group is not recoverable, an impairment loss is calculated based on the excess of the carrying amount of the asset group over its fair value.
 
The Company identifies indicators for impairment, among others, slow down in demand due to global market conditions, lower production utilization in certain plants, increased inflation and higher interest rates, integration challenges of acquired businesses, and the manufacturing facilities closure in Sdot Yam and in Richmond hill. In 2022, the Company recorded an impairment loss for the excess of the book value over its fair value related to Sdot Yam manufacturing facility, in the amount of $26,429.
 
During 2023, the Company recorded an impairment loss for the excess of the book value over its fair value related to US manufacturing facility, in the amount of $27,486 and additional impairment loss related to Sdot Yam manufacturing facility in the amount of $986. Following the closure of Sdot Yam manufacturing facility, the Company evaluated it's right of use asset resulted from non-cancelable lease agreement effective through 2032. The Company recorded an impairment of $16,575 for its sublease facility.
 
During 2024, the Company decided to sale its Richmond hill plant and reclassified the fair value of the asset in its consolidated balance sheet to Held-for sale-assets. Held-for-sale assets are measured at the lower of carrying amount or fair value, under ASC 360-10-45. As of December 31, 2024, the Company recorded an impairment loss for the excess of the book value over its fair value related to held for sale asset, in the amount of $3,800. The Company also recorded during 2024 an impairment loss related to it's intangibles assets in the amount of $3,236 as part of the assets group assessment.
 
In addition to the recoverability assessment, the Company routinely reviews the remaining estimated useful lives of property and equipment and finite-lived intangible assets. If the Company reduces the estimated useful life assumption for any asset, the remaining unamortized balance would be amortized or depreciated over the revised estimated useful life.  
 
  l.
Goodwill:
 
Goodwill represents the excess of the cost of businesses acquired over the fair value of the net assets acquired in the acquisition. Under ASC 350, "Intangibles-Goodwill and Other" ("ASC 350") goodwill is not amortized but instead is tested for impairment at least annually (or more frequently if impairment indicators arise).
 
The goodwill impairment test is performed according to the following principles:
 
  (1)
An initial qualitative assessment may be performed to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount.
 
  (2)
If the Company concludes it is more likely than not that the fair value of the reporting unit is less than its carrying amount, a quantitative fair value test is performed. An impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value is recognized.
 
The Company performed an annual goodwill impairment test during the fourth quarter of each fiscal year, or more frequently, if an event occurs or circumstances change that would indicate the carrying amount may be impaired. The Company operates as one reporting unit, and concluded that all of the Company's reporting units should be aggregated and deemed as a single reporting unit for the purpose of performing the goodwill impairment test in accordance with ASC 350-20-35-35, since they have similar economic characteristics.
 
The fair value of the reporting unit was estimated in accordance with ASC 820, "Fair Value Measurements". The Company applied assumptions that marketplace participants would consider in determining the fair value of its reporting unit.
 
The process of evaluating the potential impairment of goodwill is subjective and requires significant judgment. Significant estimates used in the fair value methodologies include estimates of future cash flows, future short-term and long-term growth rates and weighted average cost of capital.
 
As of December 31, 2022, the company performed an impairment test of the goodwill in accordance with ASC350, and recognized a full impairment charge for its goodwill balances in the amount of $44,829. (see also Note 7).
 
As of December 31, 2024, the Company did not have any goodwill balance.
 
  m.
Warranty:
 
The Company generally provides a standard (i.e. assurance type) warranty for its products, for various periods, depending on the type of product and the country in which the Company does business. The Company records a provision for the estimated cost to repair or replace products under warranty at the time of sale. Factors that affect the Company's warranty reserve include the number of units sold, historical and anticipated rates of warranty repairs and the cost per repair.
 
The following table provides the details of the change in the Company's warranty accrual:

 

   
2024
    
2023
  
             
January 1,
  
$
2,358
    
$
2,501
  
                 
Charged to costs and expenses relating to new sales
    
368
      
1,289
  
Costs of product warranty claims
    
(844
)
    
(1,792
)
Foreign currency translation adjustments
    
(156
)
    
360
  
                 
December 31,
    
1,726
      
2,358
  
 
  n.
Revenue recognition:
 
Revenues are recognized in accordance with ASC 606, revenue from contracts with customers when control of the promised goods or services is transferred to the customers, in an amount that the Company expects in exchange for those goods or services.
 
The Company applies the following five steps in accordance to ASC 606: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when a performance obligation is satisfied.
 
1.          Identify the contract with a customer:
 
A contract is an agreement between two or more parties that creates enforceable rights and obligations. In evaluating the contract, the Company analyzes the customer’s intent and ability to pay the amount of promised consideration (credit risk) and considers the probability of collecting substantially all of the consideration. The Company determines whether collectability is probable on a customer-by-customer basis pursuant to various criteria including Company’s historical experience, credit insurance and other inputs.
 
2.          Identify the performance obligations in the contract:
 
At a contract’s inception, the Company assesses the goods or services promised in a contract with a customer and identifies the performance obligations. The main performance obligation is a delivery of the Company’s products. The Company also adjusts the amounts of revenue for expected cash discounts, sales allowances, returns based upon historical experience, and projected collectability.
 
3.          Determine the transaction price:
 
The Company’s products that are sold through agreements with distributors are non-exchangeable, non-refundable, non-returnable and without any rights of price protection or stock rotation. Accordingly, the Company considers all the distributors to be end-consumers.
 
For certain revenue transactions with specific customers, the Company is responsible also for the fabrication and installation of its products. The Company recognizes such revenues upon receipt of acceptance evidence from the end consumer which occurs upon completion of the installation.
 
Although, in general, the Company does not grant rights of return, there are certain instances where such rights are granted. The Company maintains a provision for returns in accordance with ASC 606, which is estimated, based primarily on historical experience as well as management judgment, and is recorded through a reduction of revenue. The Company also adjusts the amounts of revenue for expected cash discounts, sales allowances, and projected collectability.
 

Sales and other taxes collected from customers on behalf of governmental authorities are accounted for on a net basis and are not included in revenues or operating expenses.

 
The Company has elected to apply the practical expedient such that it does not evaluate payment terms of one year or less for the existence of a significant financing component.
 
4.          Allocate the transaction price to the performance obligations in the contract:
 
The majority of the Company’s revenues are sales of goods, therefore there is one main performance obligation that absorbs the transaction price.
 
For certain revenue transactions with specific customers, the Company is responsible also for the fabrication and installation of its products. The Company recognizes such revenues upon receipt of acceptance evidence from the end consumer which occurs upon completion of the installation.
 
5.          Recognize revenue when a performance obligation is satisfied:
 
Revenue is recognized when or as performance obligations are satisfied by transferring control of a promised good or service to a customer. Control transfers at a point in time, which affects when revenue is recorded. The majority of Company’s revenues deriving from sales of products which are recognized when control is transferred. which includes but is not limited to, the agreed International Commercial terms, or “INCOTERMS”.Payment terms between the Company and its customers are vary by the type of payer and country of sale.
 
  o.
Research and development costs:
 
Research and development costs are charged to the statement of operations as incurred.
 
  p.
Income taxes:
 
The Company and its subsidiaries account for income taxes in accordance with ASC 740, "Income Taxes" (“ASC 740”). This statement prescribes the use of the liability method whereby deferred tax asset and liability account balances are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse.
 
The Company accounts for its uncertain tax positions in accordance with ASC 740-10. ASC 740-10 contains a two-step approach to recognizing and measuring uncertain tax positions accounted for in accordance with ASC 740. The first step is to evaluate the tax position taken or expected to be taken in a tax return by determining if the weight of available evidence indicates that it is more likely than not that, on an evaluation of the technical merits, the tax position will be sustained on audit, including resolution of any related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. The Company classifies interest and penalties on income taxes as taxes on income, if relevant.
 
  q.
Advertising expenses:
 
Advertising costs are expensed as incurred. Advertising expenses for the years ended December 31, 2024, 2023 and 2022 were $14,516, $15,726 and $14,777, respectively.
 
  r.
Concentrations of credit risk
 
Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, marketable securities and trade receivables. The Company's cash and cash equivalents are invested primarily in USD, mainly with major banks in Israel.
 
The Company's debt marketable securities include investments in highly-rated corporate debentures (located mainly in U.S.) and governmental bonds. The financial institution that holds the Company's debt marketable securities is a major financial institution located in the United States. The Company believes that its marketable securities portfolio is a diverse portfolio of highly-rated securities and the Company's investment policy limits the amount the Company may invest in an issuer (see Note 3).
 
The Company's trade receivables are derived from sales to customers located mainly in the United States, Australia, Canada, Israel and Europe. The Company performs ongoing credit evaluations of its customers and to date has not experienced any substantial losses. In certain circumstances, the Company requires letters of credit or prepayments. An allowance for credit losses is provided with respect to specific receivables that the Company has determined to be doubtful of collection. For those receivables not specifically reviewed, provisions are recorded, based upon the age of the receivable, the collection history, current economic trends and management estimates of future economic conditions.
 
No customer represented 10% or more of the Company’s total accounts receivables, net as of December 31, 2024 and 2023.
 
The following table provides the detail of the change in the Company's allowance for credit loss:

 

   
2024
    
2023
  
             
January 1,
  
$
12,214
    
$
9,756
  
                 
Charges to expenses
    
(1,944
)
    
3,654
  
Write offs
    
(1,095
)
    
(1,158
)
Foreign currency translation adjustments
    
(71
)
    
(38
)
                 
December 31,
  
$
9,104
    
$
12,214
  
 
  s.
Severance pay:
 
The Company's liability for severance pay, with respect to its Israeli employees, is calculated pursuant to Israeli severance pay law and employee agreements based on the most recent salary of the employees. The Company's liability for all of its Israeli employees is provided for by monthly deposits with insurance policies and by an accrual. The value of these policies is recorded as an asset on the Company's balance sheet.
 
The deposited funds include profits or losses accumulated up to the balance sheet date. The deposited funds may be withdrawn only upon the fulfillment of the obligations pursuant to Israeli severance pay law or labor agreements.
 
Majority of the agreements with employees specifically state, in accordance with section 14 of the Severance Pay Law, 1963 ("Section 14"), that the Company's contributions for severance pay shall be instead of severance compensation and that upon release of the policy to the employee, no additional calculations shall be conducted between the parties regarding the matter of severance pay and no additional payments shall be made by the Company to the employee.
 
Further, since the Company has signed agreements with its employees under Section 14, the related obligation and amounts deposited on behalf of such obligation are not stated on the balance sheet, as they are legally released from obligation to employees once the deposit amounts have been paid.
 
Severance pay expenses for the years ended December 31, 2024, 2023 and 2022 amounted to approximately $1,647, $2,102 and $2,614, respectively.
 
  t.
Fair value of financial instruments:
 
In accordance with ASC 820, the Company measures the below assets and liabilities at fair value using the various valuation techniques. The assets and liabilities are classified within Level 1 for using quoted market prices, Level 2 for alternative pricing sources and models utilizing market observable inputs, and Level 3 unobservable inputs which are supported by little or no market activity, also using third party appraisers.
 
The following table sets forth the Company’s assets and liabilities that were measured at fair value as of December 31, 2024 and 2023 by level within the fair value hierarchy:
 
    Fair Value  
Fair value measurements
as of December 31,
  
Description
  
Hierarchy
  
2024
    
2023
  
 
                
Measured at fair value on a recurring basis:
                
 
                
Assets:
                
Derivative assets
  
Level 2
  
$
110
    
$
539
  
                     
Redeemable Non-Controlling Interest (*):
  
Level 3
  
$
2,200
    
$
7,789
  
 
(*) During 2024 the Company acquired additional redeemable non-controlling interest in Lioli (see also note 1). As of December 31, 2024 the Company estimated the value of the redeemable non-controlling interest based on the settlement price which represents its redeemable value.The Company estimated the fair value of redeemable non-controlling interest using Monte Carlo simulation in previous years. The valuation requires management to make certain assumptions about the model inputs, including forecast cash flows, the discount rate and the volatility. The fair value measurement is based on inputs not observable in the market and thus represent Level 3 measurements as defined in ASC 820.
 
Measured at fair value on a nonrecurring basis:
 
  (a)
As of December 31, 2024, in accordance with Subtopic 360-10, long-lived assets held and used were written down to their fair value, resulting in an impairment charge of $3,800 related to held for sale asset in the Richmond Hill facility, and $3,236 related to intangible assets.
 
As of December 31, 2023, in accordance with Subtopic 360-10, long-lived assets held and used were written down to their fair value, resulting in an impairment charge of $28,472 related to Property Plant and Equipment included in US and Sdot Yam manufacturing facility, and $16,575 related to ROU asset related to Sdot Yam.
 
  (b)
As of December 31, 2024 and 2023, the goodwill balance was $0. During fiscal year 2022, in accordance with Subtopic 350-20, goodwill was written down in an impairment charge of $44,829, which was included in the consolidated statements of income for that period.
 
The carrying amounts of financial instruments not measured at fair value, including cash and cash equivalents, trade receivables, other accounts receivables, trade payables, accrued expenses and other liabilities, short term loans and short term bank credit, approximate their fair value due to the short-term maturities of such instruments.
 
  u.
Basic and diluted net income (loss) per share:
 
Basic net income (loss) per share ("Basic EPS") is computed by dividing net income (loss) attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period.
 
Diluted net income (loss) per share ("Diluted EPS") gives effect to all dilutive potential ordinary shares outstanding during the period. The computation of Diluted EPS does not assume conversion, exercise or contingent exercise of securities that would have an anti-dilutive effect on earnings. The dilutive effect of outstanding stock options is computed using the treasury stock method. For the years ended December 31, 2024, 2023 and 2022 there were approximately 2,495,479, 2,310,543, and 1,534,500 outstanding stock options, respectively, that were excluded from the computation of Diluted EPS, that would have had an anti dilutive effect if included.
 
  v.
Comprehensive income and accumulated other comprehensive income (loss):
 
Comprehensive income consists of two components, net income and other comprehensive income ("OCI"). OCI refers to revenue, expenses, and gains and losses that under U.S. GAAP are recorded as an element of shareholders’ equity but are excluded from net income. Company’s OCI consists of foreign currency translation adjustments from those subsidiaries not using the USD as their functional currency and net deferred gains and losses on certain derivative instruments accounted for as cash flow hedges and marketable securities.
 
The total accumulated other comprehensive income ("AOCI"), net of tax was comprised as follows:

 

   
December 31,
  
   
2024
    
2023
  
             
Accumulated income on derivative instruments
    
110
      
539
  
Accumulated foreign currency translation differences and other
    
(14,980
)
    
(8,941
)
                 
Total accumulated other comprehensive loss, net
  
$
(14,870
)
  
$
(8,402
)
 
The following table summarizes the changes in AOCI, net of taxes for the year ended:

 

   
Unrealized gains (losses) on derivative instruments
    
Unrealized gains (losses) on marketable securities
    
Accumulated foreign currency translation differences and other
    
Total
  
                         
Balance at January 1, 2023
    
(412
)
    
(125
)
    
(9,041
)
    
(9,578
)
                                 
Other comprehensive income (loss) before reclassifications
    
(2,355
)
    
125
      
100
      
(2,130
)
Amounts reclassified from AOCI
    
3,306
      
-
      
-
      
3,306
  
                                 
Net current period OCI
    
951
      
125
      
100
      
1,176
  
                                 
Balance at December 31, 2023
    
539
      
-
      
(8,941
)
    
(8,402
)
                                 
Other comprehensive income (loss) before reclassifications
    
71
      
-
      
(6,039
)
    
(5,968
)
Amounts reclassified from AOCI
    
(500
)
    
-
      
-
      
(500
)
                                 
Net current period OCI
    
(429
)
    
-
      
(6,039
)
    
(6,468
)
                                 
Balance at December 31, 2024
    
110
      
-
      
(14,980
)
    
(14,870
)
 
The following table shows the amounts reclassified from AOCI into the Consolidated Statements of Income, and the associated financial statement line item, for 2024 and 2023:

 

   
December 31,
  
   
2024
    
2023
  
Affected line item in the consolidated statements of income
            
             
Cost of revenues
  
$
324
    
$
2,287
  
Research and development
    
20
      
102
  
Marketing and selling
    
81
      
414
  
General and administrative
    
75
      
503
  
                 
Total loss
  
$
500
    
$
3,306
  
 
  w.
Accounting for stock-based compensation:
 
Equity share based payment:
 
The Company accounts for stock-based compensation in accordance with ASC 718, "Compensation-Stock Compensation" ("ASC 718"). ASC 718 requires companies to estimate the fair value of equity-based payment awards on the date of grant using an option-pricing model.
 
The Company accounts for employees and directors’ share-based payment awards classified as equity awards using the grant-date fair value method. The fair value of share-based payment transactions is recognized as an expense over the requisite service period. The Company’s accounting policy is to account for forfeitures as they occur.
 
The exercise price of each option is generally Company's stock price on the date of the grant. Options generally become exercisable over approximately three to four-year period, subject to the continued employment. All options expire after 7 years from the date of grant. In addition, commencing in 2015 the Company granted certain of its employees and officers with restricted stock units ("RSUs"), vesting over approximately a four-year period from the grant date. RSUs fair value is measured at the grant date based on the market value of Company's common stock. RSUs that are cancelled or forfeited become available for future grants.
 
In 2024 and 2023, the Company estimated the fair value of stock options granted using the Black-Scholes option pricing model with the following weighted average assumptions:

 

 
December 31,
 
2024
    
2023
         
Dividend yield
0 - 3%
 
  
0 - 3%
Expected volatility
42-47.0%
    
40-46.0%
Risk-free interest rate
4-4.6%
    
4-4.9%
Expected life (in years)
4-7
    
4-6.9
 
The Company used volatility data in accordance with ASC 718 and based on Company's historical data.
 
The computation of risk free interest rate is based on the rate available on the date of grant of a zero-coupon U.S. government bond with a remaining term equal to the expected term of the option.
 
The expected term of options granted is calculated using the simplified method (being the average between the vesting periods and the contractual life of the options). In case of grant to Company's CEO or directors, the expected term equals to the contractual life.
 
For the vast majority of the options granted in 2024 and 2023, the dividend yield is zero, due to adjustment mechanism with respect to the exercise price upon payment of a dividend. For those options granted without adjustment mechanism, the dividend yield applied is 3%.
 
  x.
Redeemable non-controlling interest:
 
Following the acquisition of Lioli during 2020, the Company is party to a put and call arrangement with respect to the remaining 45% non-controlling interest in Lioli. Due to the existing put and call arrangements, the non-controlling interest is considered to be redeemable and is recorded on the balance sheet as a redeemable non-controlling interest outside of permanent equity.
 
During March 2022, the Company participated in rights offering in Lioli, and purchased additional 9,870,000 shares in amount of approximately $2.5 million. Following this oferring, the Company holds 60.4% of Lioli's shares on a fully diluted basis.
 
During July 2024, the Company partially utilized the call option to purchase minority shares in Lioli, and purchased 10,699,162 shares from certain minority holders in amount of approximately $1.6 million. Following this offering, the Company holds 80.7% of Lioli's shares on a fully diluted basis.
 
The redeemable non-controlling interest is recognized at the higher of: i) the accumulated earnings associated with the non-controlling interest, or ii) the redemption value as of the balance sheet date (see also Note 1b).
 
The following table provides a reconciliation of the redeemable non-controlling interest:

 

   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
                   
Beginning of the year
  
$
7,789
    
$
7,903
    
$
7,869
  
                         
Net income (loss) attributable to non-controlling interest
    
(144
)
    
(584
)
    
688
  
Adjustment to Put option value (*)
    
(3,782
)
    
532
      
198
  
Payment for Put option (*)
    
(1,556
)
    
-
      
-
  
Foreign currency translation adjustments
    
(107
)
    
(62
)
    
(852
)
                         
Redeemable non-controlling interest - end of the year
  
$
2,200
    
$
7,789
    
$
7,903
  
 
  (*)
See also Note 1b.
 
  y.
Contingencies:
 
The Company is involved in various product liability, commercial, government investigations, environmental claims and other legal proceedings that arise from time to time in the course of business. The Company records accruals for these types of contingencies to the extent that the Company concludes their occurrence is probable and that the related liabilities are estimable. When accruing these costs, the Company will recognize an accrual in the amount within a range of loss that is the best estimate within the range. When no amount within the range is a better estimate than any other amount, the Company accrues for the minimum amount within the range. The Company records anticipated recoveries under existing insurance contracts that are probable of occurring at the amount that is expected to be collected. Legal costs are expensed as incurred. For unasserted claims or assessments, the Company followed the accounting guidance in ASC 450 Contingencies, in which the Company must first determine that the probability that an assertion will be made is likely, then, a determination as to the likelihood of an unfavorable outcome and the ability to reasonably estimate the potential loss is made.
 
  z.
Business combination:
 
The Company accounts for business combinations by applying the provisions of ASC 805, Business Combination, and allocates the fair value of purchase consideration to the tangible assets acquired, liabilities assumed, and intangible assets acquired based on their estimated fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. When determining the fair values of assets acquired and liabilities assumed, management makes significant estimates and assumptions, especially with respect to intangible assets.
 
Significant estimates in valuing certain intangible assets include, but are not limited to future expected cash flows from acquired customer relationship and acquired trademarks from a market participant perspective, useful lives and discount rates. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates.  During the measurement period, which does not exceed one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed, with the corresponding adjustment to goodwill. Upon the finalization of the measurement period, any subsequent adjustments are recorded to earnings.
 
Acquisition-related costs are recognized separately from the acquisition and are expensed as incurred. See also Note 1.
 
  aa.
Exit or disposal activities:
 
The company accounts for exit and disposal cost obligations, including restructuring activities, under ASC 420-10 "Exit or Disposal Cost Obligations", which requires that the company record liabilities for such activities only when such liability has been incurred. During 2024 the company closed it's facility in Richmond hill, Georgia, USA, and sold part of it's lands and production equipment, and during 2023 the company closed it's facility in Sdot-Yam, Israel.
 
Total restructuring expenses for the year ended December 31, 2024 and 2023 related to the manufacturing facilities closures and partial sales of assets in those locations, totaled approximately to a credit of $6.0 million and expenses of $2.9 million, included within the operating expenses on the consolidated statements of comprehensive income (loss).
 
In 2024, out of the credit of $6.0 million, capital gain related to the partial sale of undeveloped land  facility was approximately $7.4 million, offset by decommissioning and restoration costs of approximately $1.4 million.
 
In 2023, out of the $2.9 million expenses, employee termination costs were approximately $1.0 million and decommissioning and restoration costs were approximately $1.9 million.
 
As of December 31, 2024 approximately $1.5 million is recorded under accrued expenses and other liabilities.
 
  ab.
Impact of recently issued accounting standards:
 
Recently issued accounting standards and adopted by the Company:
 
In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (ASU 2021-08), which clarifies that an acquirer of a business should recognize and measure contract assets and contract liabilities in a business combination in accordance with Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers (Topic 606). This guidance is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. Early adoption is permitted. The adoption of the standards did not have a material impact on the Company’s consolidated financial statements.
 
In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, requiring public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. The Company adopted ASU 2023-07 during the year ended December 31, 2024. The adoption of the standards did not have a material impact on the Company’s consolidated financial statements. See Note 16 for further detail.
 
Recently issued accounting standards and not yet adopted by the Company:
 
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-09.
v3.25.0.1
MARKETABLE SECURITIES
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
MARKETABLE SECURITIES
NOTE 3:-
MARKETABLE SECURITIES
 
As of December 31, 2024 and 2023, there is no outstanding marketable securities held by the company.
 
The following is a summary of available-for-sale marketable securities at December 31, 2022:
 
   
Amortized
cost
    
Gross unrealized
gains
    
Gross unrealized
losses
    
Accrued Interest
    
Fair
value
  
 
                              
Available-for-sale – matures within one year:
                              
Corporate bonds
  
$
7,164
    
$
-
    
$
126
    
$
39
    
$
7,077
  
Total
  
$
7,164
    
$
-
    
$
126
    
$
39
    
$
7,077
  
 
As of December 31, 2024 and 2023 the Company didn’t record an allowance for credit losses for its AFS marketable debt securities.
v3.25.0.1
OTHER ACCOUNTS RECEIVABLE AND PREPAID EXPENSES
 12 Months Ended
Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
OTHER ACCOUNTS RECEIVABLE AND PREPAID EXPENSES
NOTE 4:-
OTHER ACCOUNTS RECEIVABLE AND PREPAID EXPENSES
 
   
December 31,
  
   
2024
    
2023
  
             
Prepaid expenses
  
$
6,505
    
$
5,388
  
Government authorities
    
2,841
      
4,410
  
Advances to suppliers
    
2,703
      
3,102
  
Derivatives
    
110
      
539
  
Insurance receivables (*)
    
32,178
      
8,361
  
Other receivables
    
5,168
      
3,689
  
                 
   
$
49,505
    
$
25,489
  
 
(*) Related to bodily injury claims, see also note 11.
v3.25.0.1
INVENTORIES
 12 Months Ended
Dec. 31, 2024
Inventory Disclosure [Abstract]  
INVENTORIES
NOTE 5:-
INVENTORIES

 
   
December 31,
  
   
2024
    
2023
  
             
Raw materials
  
$
7,090
    
$
11,884
  
Work-in-progress
    
1,864
      
2,390
  
Finished goods
    
103,655
      
122,172
  
                 
   
$
112,609
    
$
136,446
  
v3.25.0.1
PROPERTY, PLANT AND EQUIPMENT, NET
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT, NET
NOTE 6:-
PROPERTY, PLANT AND EQUIPMENT, NET
 
   
December 31,
  
   
2024
    
2023
  
Cost:
            
             
Machinery and manufacturing equipment, net (1)
  
$
163,517
    
$
339,657
  
Office equipment and furniture
    
27,783
      
40,012
  
Motor vehicles
    
3,517
      
4,933
  
Buildings and leasehold improvements
    
51,015
      
131,269
  
Prepaid expenses related to operating lease (2)
    
939
      
939
  
                 
     
246,771
      
516,810
  
Accumulated depreciation and impairment:
                
                 
Machinery and manufacturing equipment, net
    
120,851
      
249,499
  
Office equipment and furniture
    
18,604
      
27,866
  
Motor vehicles
    
2,798
      
3,908
  
Buildings and leasehold improvements
    
28,611
      
56,984
  
Prepaid expenses related to operating lease
    
183
      
173
  
Impairment of fixed assets (3)
    
-
      
54,900
  
                 
     
171,047
      
393,330
  
                 
Depreciated cost
  
$
75,724
    
$
123,480
  
 
  (1)
Presented net of investment grants received in the total amount of $7,463.
 
  (2)
Until 2012, the Company leased land from the Israel Lands Administration ("ILA") for its Bar-Lev manufacturing facility. The lease term started on February 6, 2005. The lease is for an initial non-cancellable term of 49 years, with a renewal option of an additional 49 years.
 
  (3)
Non cash pre-tax impairment charges recognized in 2024, 2023, and 2022 were $0,  $28,471 and $26,429, respectively (see also Note 2k).
 
Depreciation expenses were $14,844, $27,387 and $33,813 for the years ended December 31, 2024, 2023 and 2022, respectively.
v3.25.0.1
GOODWILL AND INTANGIBLES
 12 Months Ended
Dec. 31, 2024
GOODWILL [Abstract]  
GOODWILL AND INTANGIBLES
NOTE 7:-
GOODWILL AND INTANGIBLES
 
a. Goodwill:
 
The changes in the carrying amount of goodwill for the years ended December 31, 2022, is as follows:
 
Balance as of January 1, 2022
  
$
45,800
  
Acquired through business combination (*)
    
792
  
Goodwill Impairment (**)
    
(44,829
)
Foreign currency translation adjustments
    
(1,763
)
         
Balance as of December 31, 2022
  
$
-
  
 
(*) Resulting from Magrab acquisition, see also Notes 1(d).
(**)The Company performs its annual testing of goodwill in the fourth quarter of each year in accordance with ASC 350 (see also Note 2l). During the fourth quarter of 2022, the Company conducted an impairment test of its reporting unit. Due to factors such as a decrease in the Company's market value, lower-than-expected projected future cash flows, and higher interest rates, a pre-tax, non-cash goodwill impairment charge of $44,829 was recorded.
 
b. Intangible assets:
 
   
December 31,
  
   
2024
    
2023
  
Original amounts:
            
    Customer relationships
  
$
13,983
    
$
13,983
  
Accumulated amortization:
                
    Customer relationships
    
(10,302
)
    
(7,687
)
Impairment charges (3)
    
(3,236
)
    
-
  
Foreign currency translation adjustment
    
(181
)
    
(39
)
                 
Total intangibles assets
  
$
263
    
$
6,257
  
 
  (1)
Amortization expense amounted to $2,617 and $2,620 for the years ended December 31, 2024 and 2023, respectively.
  (2)
Estimated amortization expenses for 2025 are $263.
  (3)
See also Note 2k.
v3.25.0.1
SHORT-TERM BANK CREDIT AND CURRENT MATURITIES OF LONG-TERM LOAN
 12 Months Ended
Dec. 31, 2024
Short-term Debt [Abstract]  
SHORT-TERM BANK CREDIT AND CURRENT MATURITIES OF LONG-TERM LOAN
NOTE 8:-
SHORT-TERM BANK CREDIT AND CURRENT MATURITIES OF LONG-TERM LOAN
 
Short-term bank credit and loans are classified as follows:
 
      
Weighted average interest
              
 
 Currency  
December 31,
    
December 31,
  
     
2024
    
2023
    
2024
    
2023
  
     
%
              
                           
Short-term bank credit (*)
INR
    
9.3
      
10.1
    
$
2,534
    
$
2,801
  
Current maturities of Long- term bank loan and other (*)
INR
    
9.6
      
8.9
    
$
2,021
    
$
2,317
  
Total
                    
$
4,555
    
$
5,118
  
 
   
(*) Credit line and bank loan in Lioli - During 2022, Lioli engaged with a new bank and signed a new loan agreement. The loan agreement with the bank in Lioli contains customary covenants. Lioli is in compliance with the requirement of the financial covenants under the agreement of own capital contribution. The Loan Agreement also contains certain customary negative covenants that require Lioli to refrain from certain actions unless bank’s consent obtained. Lioli debt is secured by a SBLC (Stand By Letter of Credit) from Caesarstone and floating charge on all of Lioli’s assets. (see also Note 15).
v3.25.0.1
ACCRUED EXPENSES AND OTHER LIABILITIES
 12 Months Ended
Dec. 31, 2024
Payables and Accruals [Abstract]  
ACCRUED EXPENSES AND OTHER LIABILITIES
NOTE 9:-
ACCRUED EXPENSES AND OTHER LIABILITIES
 
   
December 31,
  
   
2024
    
2023
  
             
Employees and payroll accruals
  
$
11,690
    
$
13,410
  
Accrued expenses
    
7,990
      
8,833
  
Advances from customers
    
2,435
      
2,413
  
Taxes payable
    
3,585
      
5,617
  
Warranty provision
    
824
      
1,154
  
Sales return provision
    
432
      
875
  
Operating lease liability short-term
    
24,339
      
23,932
  
Contingent consideration liability and other
    
88
      
660
  
                 
   
$
51,383
    
$
56,894
  
v3.25.0.1
LEASES
 12 Months Ended
Dec. 31, 2024
Lessee Disclosure [Abstract]  
LEASES
NOTE 10:-
LEASES
 
As of December 31, 2024, the Company had operating lease agreements for facilities and vehicles in the United States, Canada, Australia, United Kingdom, European Union, Israel, India, Sweden and Singapore. The Company’s leases have remaining lease terms of up to 14 years, some of which include options to extend the leases for up to five years. Such options are included in the lease term when it is reasonably certain that the option will be exercised. Leases with an initial term of 12 months or less are not recorded on the balance sheet, the Company recognizes lease expense for these leases on a straight-line basis over the lease term. The Company does not separate non-lease components from the lease components to which they relate, and instead accounts for each separate lease and non-lease component associated with that lease component as a single lease component for all underlying asset classes. The Company uses its estimated incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.
 
  a.
The following table summarizes the Company’s lease-related assets and liabilities recorded on the consolidated balance sheet:
 
 
 Classification  
December 31, 2024
    
December 31, 2023
  
Assets:
              
               
Operating lease assets (*)
Operating lease right-of-use assets
  
$
115,392
    
$
120,156
  
                   
Total lease assets
    
$
115,392
    
$
120,156
  
                   
Liabilities:
                  
                   
Current lease liabilities
Accrued expenses and other liabilities
    
24,339
      
23,932
  
Long-term lease liabilities
Long-term operating lease liabilities
    
107,313
      
114,146
  
                   
Total lease liabilities
    
$
131,652
    
$
138,078
  
 
(*) Following the closure of Sdot Yam plant, the Company evaluated it's right of use asset resulted from non-cancelable lease agreement effective through 2032. Based on future estimated sublease the Company recorded an impairment of $16,575 during 2023. No additional impairment was identified during 2024.
 
Lease term and discount rate:
December 31, 2024
  
December 31, 2023
       
Weighted-average remaining lease term — operating leases
6.5 years
  
7.3 years
Weighted-average discount rate — operating leases
3.1%
  
2.7%

 

  b.
The components of operating lease cost for the year ended December 31, 2024 and 2023 were as follows:
 
   
December 31, 2024
    
December 31, 2023
  
Operating lease cost:
            
             
Operating lease expense
  
$
28,454
    
$
28,771
  
Variable lease expense (*)
    
7,306
      
1,113
  
Sublease income
    
(1,624
)
    
(477
)
                 
Total operating lease cost
  
$
34,136
    
$
29,407
  
 
(*) Includes short-term leases, index and other variable lease costs.
 
  c.
The maturity of the Company’s operating lease liabilities for contracts with lease term greater than one year as of December 31, 2024 are as follows:
 
   
December 31,
  
       
2025
    
26,726
  
2026
    
24,636
  
2027
    
20,652
  
2028
    
17,534
  
2029
    
16,134
  
2030 and thereafter
    
38,958
  
         
Total future lease payments (1,2)
    
144,640
  
Less imputed interest
    
(12,988
)
         
Total
  
$
131,652
  
 
  (1)
Total lease payments have not been reduced by sublease rental expected payments of approximately $22 million due in the future under non-cancelable subleases.
  (2)
As of December 31, 2024, we have additional operating lease payments, that have not yet commenced of approximately $2.7 million. These operating leases will commence during 2025 with lease terms of 7 years.
 
  d.
For additional information regarding lease transactions between related parties, refer to Note 14.
     
  e.
The following table presents supplemental cash flow information related to the lease costs for operating leases:

 
   
December 31, 2024
    
December 31, 2023
  
Cash paid for amounts included in measurement of lease liabilities:
            
             
Operating cash flows for operating leases
  
$
27,468
    
$
27,471
  
v3.25.0.1
COMMITMENTS AND CONTINGENT LIABILITIES
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENT LIABILITIES
NOTE 11:-
COMMITMENTS AND CONTINGENT LIABILITIES
 
  a.
Legal proceedings and contingencies:
 
Bodily injury claims related to exposure to silica dust:
 
Overview:
 
The Company is subject to numerous claims mainly by fabricators, their employees or National Insurance Institute (the Israeli insurance institute -"NII" or Australian states workers compensation regulators), alleging that fabricators contracted illnesses, including silicosis, through exposure to silica particles during cutting, polishing, sawing, grinding, breaking, crushing, drilling, sanding or sculpting Company's products.
 
Individual claims in Israel
 
As of December 31, 2024, the Company is subject to 124 pending bodily injury claims (individual claims and NII subrogation or related future probable claims, representing 52 injured persons) that have been submitted in Israel since 2008 against the Company directly, or that have named the Company as third-party defendant by fabricators or their employees in Israel, by the injurer's successors, by the NII or by others. Based on its legal advisors’, contingent losses related to such claims are probable, and pursuant to ASC 450, an accrual has been recorded for the loss contingencies related to such claims.
 
As of December 31, 2024, the Company has 11 pending pre-litigation demand letters on behalf of certain fabricators in Israel.
 
Most of the claims in Israel do not specify a total amount of damages sought, as the plaintiff’s future damages are intended to be determined at trial.
 
In November 2015 and in May 2017, the Company entered into agreements with the State of Israel and with its main distributors in Israel, respectively, with the consent of its insurance carriers, under which the Company agreed with the State and each of its main distributors to cooperate, subject to certain terms, with respect to the management of the individual claims that have been filed and claims that may be submitted during a certain time period (NII claims are excluded from the Company’s agreement with the State) and on the apportionments of the total liability between the Company , the State, and the distributors, if found, in such claims. The agreement has been extended through March 31, 2029.
 
Individual claims in Australia:
 
As of December 31, 2024, Company’s subsidiary in Australia is subject to 122 pending bodily injury claims that have been submitted in Australia since 2018 against it directly, or that have named the Company as third-party defendant by fabricators in Australia.
 
Commencing 2021, the Company reassessed the expected outcome of the individual product liability claims in Australia following Company's and its insurance carrier consent for several settlements. Based on this development and also based on its legal advisors’, contingent losses related to the product liability individual claims are probable, and pursuant to ASC 450, an accrual has been recorded for the loss contingencies related to such claims.
 
Individual claims in the U.S.:
 
As of December 31, 2024, Company’s subsidiary in U.S. (Caesarstone U.S.) is subject to 122 pending individual bodily injury claims that have been submitted in U.S. against it directly, or that have named the Company as third-party defendant by fabricators in U.S.
 
In August 2024, a jury rendered a verdict in one such case brought in the Los Angeles County Court. The jury found all defendants liable and awarded the plaintiffs approximately $52.4 million in damages. Caesarstone U.S. was apportioned approximately $13.0 million of this amount. The Company strongly disagrees with the jury’s verdict and believes is not supported by the facts of the case, including its failure to acknowledge the proactive measures the Company took over the years to warn and educate about safe fabrication practices. The Company’s motion for new trial and motion for Judgement Notwithstanding the Verdict were rejected on January 27, 2025 and the Company currently appealing the verdict. In February 2025, the Company settled additional claim.
 
Based on its legal advisors’, the Company recorded an adequate accrual related to the two cases mentioned above. Contingent losses related to the other 120 product liability individual claims in the U.S. were defined in accordance with ASC450 as either only reasonably possible (18 claims) with a range of possible loss between $0.5 to $13 million per claim or are at an early stage (102 claims) in which the amount of the possible loss cannot be reasonably estimated, and therefore an accrual has not been recorded for such claims as of December 31, 2024. The Company believes it has substantial defenses and will continue to vigorously defend against these claims.
 
Summary of the provisions for claims mentioned:
 
In order to reasonably estimate the losses for bodily injury claims in Israel, Australia and the U.S. reflected in the table below, the Company performed a case-by-case analysis with its legal advisors of the relevant facts that were reasonably available to it, related to the claims filed, including, among other things, the specific known or estimated health condition of the claimants, their ages, salaries, related probable future subrogation claims from the NII, and other factors that might have an impact on the final outcome of such claims. The Company will continue to regularly monitor changes in facts for each claim and will update its best estimate if required.
 
Accordingly, the reserve for bodily injury claims in Israel, Australia and the U.S. as of December 31, 2024 and 2023 totaled to $50,032 and $25,717 respectively, of which $40,540 and $14,509 is reported in short term legal settlements and loss contingencies and $9,492 and $11,208 is reported in long-term liabilities. The Company currently cannot estimate the number of claimants that may file claims in the future or the nature of their claims in order to conclude probability or the range of loss.
 
The Company updated its provision in 2024, 2023 and 2022 to reflect the outstanding claims in the below table, and provided a provision also for related NII unasserted claims, based on its legal advisors’ and according to ASC 450, taking into consideration new claims filed, settlements reached and other new information available.
 
A summary of bodily injury claims for which the Company provided provision is as follows:
 
   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
                   
Outstanding claims, January 1,
    
224
      
221
      
203
  
                         
New claims
    
101
      
63
      
87
  
Settled and dismissed claims
    
(77
)
    
(60
)
    
(69
)
                         
Outstanding claims, December 31
    
248
      
224
      
221
  
 
Insurance
 
The Company maintains insurance for product liability claims, including for bodily injury claims related to exposure to silica dust, where such insurance cover can be obtained. The Company has purchased insurance policies for the period from 2008 and to date from several insurance carriers that provide coverage for product liability losses, subject to certain terms and conditions, and the related defense costs up to a certain limit per case and per policy year.
 
As of December 31, 2024, for the U.S., Australia and Israel the Company did not obtain new product liability covers related to silica dust. For Canada, the Company has product liability insurance policy covers up to CAD 20 million, with relatively low deductibles.
 
The collectability of the Company's insurance receivables is regularly evaluated, and the amounts recorded are probable of collection. This conclusion is based on the followings - analysis of the terms of the underlying insurance policies; experience in successfully recovering individual product liability claims from Company's insurers in Israel and Australia; the agreement the Company has with the insurance carriers and the State of Israel; the financial ability of the insurance carriers to pay the claims and the relevant facts and applicable law. There is no assurance that part or all of the other 120 individual silica claims pending in the U.S. will be covered by insurance in whole or in part.
 
As of December 31, 2024, and 2023, the insurance receivable totaled to $32,178 and $8,361, respectively, reported in the other accounts receivable and prepaid expenses.
 
During the years ended December 31, 2024 and 2023, legal settlements and loss contingencies expenses related to the bodily injury claims totaled to $7,242 and credit of $4,847, respectively, which reflects the deductible amounts for claims covered by insurance policies, claims not covered and the impact of settlements including the related legal costs.
 
General:
 
From time to time, the Company is involved in other legal proceedings and claims in the ordinary course of business related to a range of matters. While the outcome of these other claims cannot be predicted with certainty, the Company monitors and estimates the possible loss deriving from these claims based on new information available and based on its legal advisors, and believes that it recorded an adequate reserve for these claims in accordance with ASC 450.
 
  b.
Purchase obligation:
 
The Company's significant contractual obligations and commitments as of December 31, 2024, are for purchase obligations to certain suppliers and amounted to $22,442 for the fiscal year 2025.
 
  c.
Pledges and guarantees:
 
  1.
As of December 31, 2024, the Company had outstanding guarantees and letters of credit with various expiration dates in a principal amount of approximately $3,947 related to facilities, machinery and equipment, and other miscellaneous guarantees.
 
  2.
See also note 15.
v3.25.0.1
TAXES ON INCOME
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
TAXES ON INCOME
NOTE 12:-
TAXES ON INCOME
 
  a.
Israeli taxation:
 
  1.
Corporate tax rate:
 
The corporate tax rate in Israel was 23% in 2024 and 2023, and 2022.
 
  2.
Foreign Exchange Regulations:
 
Under the Foreign Exchange Regulations, Caesarstone Ltd. calculates its tax liability in U.S. Dollars according to certain orders. The tax liability, as calculated in U.S. Dollars is translated into New Israeli Shekels according to the exchange rate as of December 31st of each year.
 
  3.
Tax benefits under Israel's Law for the Encouragement of Industry (Taxes), 1969:
 
The Company is an "Industrial Company," as defined by the Law for the Encouragement of Industry (Taxes), 1969, and as such, the Company is entitled to certain tax benefits, primarily amortization of costs relating to know-how and patents over eight years, accelerated depreciation and the right to deduct public issuance expenses for tax purposes.
 
  4.
Tax benefits under the Law for the Encouragement of Capital Investments, 1959:
 
According to the Law for the Encouragement of Capital Investments, 1959 (the "Encouragement Law"), the Company is entitled to various tax benefits by virtue of the "Preferred Enterprise" status granted to its enterprises, in accordance with the Encouragement Law.
 
The Company chose to be taxed according to the "Preferred Enterprise" track under Amendment No. 68 to the Encouragement Law (the "Amendment No. 68"). In order to implement Amendment No. 68 and to be taxed under the "Preferred Enterprise" track, the Company waived the tax benefits of the previous tracks -"Approved Enterprise" and "Beneficiary Enterprise" - under the Encouragement Law, starting from the 2011 tax year.
 
The principal benefits by virtue of the Encouragement Law are the following:
 
Tax benefits and reduced tax rates under the Preferred Enterprise track:
 
The tax rate on preferred income from a Preferred Enterprise commencing 2017 is 16% and in development area A – 7.5% (relates to Company's manufacturing plant in Bar-Lev industrial zone). During 2023 the company closed it’s Sdot-Yam manufacturing facility, resulting future tax benefits only from it’s manufacturing facility in Bar-Lev industrial zone.
 
In order to receive benefits as a "Preferred Enterprise," Amendment No. 68 states certain conditions must be met. The basic condition for receiving the benefits under Amendment No. 68 is that the enterprise contributes to the country's economic growth and is a competitive factor for the gross domestic product (a "competitive enterprise"). In order to comply with this condition, the Encouragement Law prescribes various requirements.
 
As for industrial enterprises, in each tax year, one of the following conditions must be met:
 
  1.
Its main field of activity is biotechnology or nanotechnology as approved by the Head of the Administration of Industrial Research and Development.
 
  2.
The industrial enterprise's sales revenues in a specific market during the tax year do not exceed 75% of its total sales for that tax year. A "market" is defined as a separate country or customs territory.
 
  3.
At least 25% of the industrial enterprise's overall revenues during the tax year were generated from the enterprise's sales in a specific market with a population of at least 14 million starting from 2012 tax year.
 
Amendment No. 68 also prescribes that any dividends distributed to individuals or foreign residents from the preferred enterprise's earnings as discussed above will be subject to tax at a rate of 20% from 2014 and onwards (or a reduced rate under an applicable double tax treaty).
 
Since the Company chose to apply the provisions of Amendment No. 68, by submitting the waiver form before June 30, 2015, the Company is eligible to distribute taxed earnings derived from a Beneficiary Enterprise and/or Approved Enterprise to an Israeli company without being subject to withholding tax.
 
In development area A, in addition to the tax benefits, as mentioned above, some of the Company's facilities are eligible for grants at rate of 20% and/or loans, subject to an approval of the Israeli Investment Center.
 
Accelerated depreciation:
 
The Company is eligible for a deduction of accelerated depreciation on machinery and equipment used by the Approved Enterprise or the Beneficiary Enterprise or the Preferred Enterprise at a rate of 200% (or 400% for buildings) from the first year of the asset's operation.
 
Conditions for entitlement to benefits:
 
The above mentioned benefits are contingent upon the fulfillment of the conditions stipulated by the Encouragement Law, regulations published thereunder and the letters of approval for the investments in the Preferred Enterprises, as discussed above. Non-compliance with the conditions may cancel all or part of the benefits and require a refund of the amount of the benefits, including interest. The Company's management believes that the Company meets the aforementioned conditions.
 
The tax-exempt income attributable to the Approved Enterprise cannot be distributed to shareholders without subjecting the Company to taxes. If dividends are distributed out of tax-exempt profits, the Company will then become liable for tax at the rate applicable to its profits from the Approved Enterprise in the year in which the income was earned, as if it was not under the "Alternative benefits track" (taxed at the rate of no more than 25% as of December 31, 2024). Under the Encouragement Law, tax-exempt income generated under the Approved Enterprise status will be taxed, among other things, upon a dividend distribution or complete liquidation in accordance with the Encouragement Law.
 
In November 2021, amendment No. 74 to the Investment Law (the “Trapped Earnings Law”) came into effect. Amendment 74 to the Encouragement Law:
 
On November 15, 2021, the Economic Efficiency Law (Legislative Amendments for Achieving Budget Targets for the 2021 and 2022 Budget Years), 2021 ("the Economic Efficiency Law"), was enacted. This Law establishes a temporary order allowing Israeli companies to release tax-exempt earnings ("trapped earnings" or "accumulated earnings") accumulated until December 31, 2020, through a mechanism established for a reduced corporate income tax rate applicable to those earnings ("the Temporary Order"). In addition to the reduced corporate income tax (CIT) rate, Article 74 to the Encouragement Law was amended whereby effective from August 15, 2021, for any dividend distribution (including a dividend as per Article 51B to the Encouragement Law) by a company which has trapped earnings, there will be a requirement to allocate a portion of that distribution to the trapped earnings.
 
The Company distributed dividends during November 2021 and September 2022, both were partially attributed to the above amendment.
 
Of the Company's retained earnings as of December 31, 2024, approximately $20,058 is tax-exempt earnings attributable to its Approved Enterprise.
 
As of December 31, 2024, if the income attributed to the Approved Enterprise would have been distributed as a dividend, the Company would have incurred a tax liability of approximately $5,015.
 
  b.
Non-Israeli subsidiaries taxation:
 
Non-Israeli subsidiaries are taxed based on tax laws in their countries of residence.
 
Statutory tax rates for Non-Israeli subsidiaries are as follows:
 
Company incorporated in United States – 25.3% tax rate (federal and state).
Company incorporated in Australia - 30% tax rate.
Company incorporated in Singapore - 17% tax rate.
Company incorporated in Canada – 26.1% tax rate (federal and state).
Company incorporated in England – 25% tax rate.
Company incorporated in India – 30% tax rate.
Company incorporated in Sweden – 20.6% tax rate.
 
Israeli income taxes and foreign withholding taxes were not provided for undistributed earnings of the Company's foreign subsidiaries. The Company intends to reinvest these earnings indefinitely in the foreign subsidiaries. Accordingly, no deferred income taxes have been provided. If these earnings were distributed to Israel in the form of dividends or otherwise, the Company would be subject to additional Israeli income taxes (subject to an adjustment for foreign tax credits) and foreign withholding taxes.

 

  c.
Deferred income taxes:
 
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company's deferred tax assets and liabilities are as follows:

 

   
December 31,
  
   
2024
    
2023
  
Deferred tax assets:
            
             
Goodwill and Intangible assets
  
$
172
    
$
227
  
Operating lease liabilities and others
    
24,744
      
28,558
  
Temporary differences related to inventory
    
5,475
      
9,068
  
Property and equipment
    
2,685
      
3,315
  
Net operating loss carry-forward, deductions and credits
    
13,301
      
10,451
  
Less-valuation allowance
    
(28,497
)
    
(29,198
)
                 
Total deferred tax assets
    
17,880
      
22,421
  
                 
Deferred tax liabilities:
                
                 
Property and equipment
    
(2,591
)
    
(2,844
)
Intangible Assets
    
(595
)
    
(1,533
)
Operating lease right-of-use assets and others lease
    
(14,223
)
    
(17,989
)
                 
Total deferred tax liabilities
    
(17,409
)
    
(22,366
)
                 
Deferred tax assets, net
  
$
471
    
$
55
  
 
Net operating loss carry-forwards
 
Parent Company and certain subsidiaries have tax loss carry-forwards totaling approximately $192,428 which can be carried forward indefinitely. In addition to the above, the Company carried back its 2020 U.S. subsidiaries losses in accordance with the CARES act.
 
Based on available evidence, management believes it is not more-likely-than-not that $28,497 Israel and U.S deferred tax assets will be fully realizable. Accordingly, in those jurisdictions, the Company has recorded a valuation allowance against these assets. The Company regularly reviews the deferred tax assets for recoverability based on all of the available positive and negative evidence, with a focus on historical taxable income, projected future taxable income, the expected timing of the reversals of existing taxable temporary differences and tax planning strategies by jurisdiction.
 
In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the schedule of reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. During 2023, the Company recorded a full valuation allowance on deferred tax assets in the U.S and Israel in accordance with ASC 740, due to accumulated 3-year loss position and its estimation that future taxable income is not probable. Same treatment was applied during 2024.
 
  d.
A reconciliation of the Company's effective tax rate to the statutory tax rate in Israel is as follows:
 
   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
                   
Loss before taxes on income
  
$
(41,895
)
  
$
(86,959
)
  
$
(55,608
)
                         
Statutory tax rate in Israel
    
23
%
    
23
%
    
23
%
                         
Tax benefit at statutory rate
  
$
(9,636
)
  
$
(20,001
)
  
$
(12,790
)
                         
Increase (decrease) in tax expenses resulting from:
                        
                         
Tax benefit arising from reduced rate as an "Preferred Enterprise"
    
9,128
      
9,996
      
2,622
  
Non-deductible expenses, net
    
822
      
1,818
      
10,745
  
 Increase (decrease) in taxes from prior years, also related to settlement with tax authorities
    
882
      
419
      
(735
)
Tax adjustment in respect of foreign subsidiaries' different tax rates
    
997
      
(1,120
)
    
(239
)
Provision for withholding tax assets
    
-
      
2,828
      
-
  
Uncertain tax position
    
(353
)
    
-
      
-
  
Changes in valuation allowance
    
(701
)
    
27,402
      
1,079
  
Others
    
(58
)
    
(61
)
    
76
  
                         
Income tax expense
  
$
1,081
    
$
21,281
    
$
758
  
                         
Effective tax rate
    
(2.6
%)
    
(24.5
%)
    
(1.4
%)
                         
Per share amounts (basic and diluted) of the tax benefit resulting from a "Preferred Enterprise"
  
$
0.26
    
$
0.29
    
$
(0.04
)
 
  e.
Income (loss) before taxes on income is comprised as follows:

 
   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
                   
Domestic
  
$
(45,582
)
  
$
(38,831
)
  
$
(18,671
)
Foreign
    
3,687
      
(48,128
)
    
(36,937
)
                         
   
$
(41,895
)
  
$
(86,959
)
  
$
(55,608
)
 
  f.
Tax expenses on income are comprised as follows:

 
   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
                   
Current taxes
  
$
1,498
    
$
9,373
    
$
6,832
  
Deferred taxes
    
(417
)
    
11,908
      
(6,074
)
                         
   
$
1,081
    
$
21,281
    
$
758
  
                         
Domestic
  
$
1,258
    
$
14,084
    
$
436
  
Foreign
    
(177
)
    
7,197
      
322
  
                         
   
$
1,081
    
$
21,281
    
$
758
  
 
  g.
Tax assessments:
 
The Company operates in multiple jurisdictions throughout the world, and its tax returns are periodically audited or subject to examination by both domestic and foreign tax authorities. The associated tax filings remain subject to examination by applicable tax authorities for a certain length of time following the tax year to which those filings relate. The following describes the open tax years, by major tax jurisdiction, as of December 31, 2024:
 
Israel 2023 - present
Australia 2019 - present
Canada 2020 - present
United States 2020 - present
 
  h.
Uncertain tax positions:
 
The balances at December 31, 2024 and 2023 include a liability for unrecognized tax benefits of $973, for tax positions which are uncertain of being sustained.
 
A reconciliation of the beginning and ending balances of unrecognized tax benefits is as follows:

 

Gross tax liabilities at January 1, 2022
  
$
3,773
  
         
Increase in tax positions for current year
    
(882
)
         
Gross tax liabilities at December 31, 2022
    
2,891
  
         
Increase in tax positions for current year
    
-
  
         
Gross tax liabilities at December 31, 2023
    
2,891
  
         
Increase in tax positions for current year
    
700
  
Reductions in respect of settlements with authorities and statute of limitation
    
(1,918
)
         
Gross tax liabilities at December 31, 2024
  
$
1,673
  
 
The Company believes that an adequate provision has been made for any adjustments that may result from tax examinations. However, the outcome of tax audits cannot be predicted with certainty. If any issues addressed in the Company's tax audits are resolved in a manner not consistent with management's expectations, the Company could be required to adjust the provision for income taxes in the period such resolution occurs. The Company does not expect uncertain tax positions to change significantly over the next 12 months, except in the case of settlements with tax authorities, the likelihood and timing of which is difficult to estimate.
v3.25.0.1
SHAREHOLDERS' EQUITY
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
SHAREHOLDERS' EQUITY
NOTE 13:-
SHAREHOLDERS' EQUITY
 
  a.
The Company's share capital consisted of the following as of December 31, 2024 and 2023:
 
   
Authorized
  
Outstanding
   
December 31,
  
December 31,
   
2024
  
2023
  
2024
  
2023
   
Number of shares
                 
Ordinary shares of NIS 0.04 par value each
  
200,000,000
  
200,000,000
  
34,549,050
  
34,532,452
 
  b.
Ordinary shares:
 
Ordinary shares confer on their holders' voting rights and the right to receive dividends.
 
  c.
Dividends:
 
In February 2020 the Company revised its dividend policy so that cash dividend will be distributed up to 50% of the year to date reported net income attributable to controlling interest less any amounts already paid as dividend for the respective period, provided that such calculated dividend is not less than $0.10 per share. Any dividend payment is subject to approval by the Company’s board of directors.
 
Pursuant to the above policy the Company paid a total amount of $8,625 in 2022 mostly out of its non-tax exempt profit under the beneficiary enterprise (see also note 12).
 
  d.
Compensation plan:
 
On January 1, 2011, the Board of Directors adopted the Caesarstone Ltd 2011 Incentive Compensation Plan (the “2011 Plan”) pursuant to which non-employee directors, officers, employees and consultants may receive stock options and RSUs exercisable for ordinary shares, if certain conditions are met. Under the plan the Company can grant up to 3,275,000 ordinary shares. On September 17, 2020 the Board of Directors adopted Caesarstone Ltd 2020 Share incentive plan (the “2020 Plan”). Under the 2020 Plan up to 2,500,000 ordinary shares may be granted. In addition, any shares that remain available for issuance under the 2011 Plan, as of the Effective Date, which shall not exceed 1,000,000 Shares, may also be granted under the 2020 Plan.
 
As of December 31, 2024, there were 2,541,670 options and restricted stock units (RSUs) outstanding under the Plans and 1,031,551 shares available or reserved for future issuance under the plan.
 
As of December 31, 2024, there was $1,920 of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted to employees and directors under the Plan. That cost is expected to be recognized over a weighted-average period of 2.8 years.
 
The following is a summary of activities relating to the Company’s stock options granted to employees under the Company’s plan during the year ended December 31, 2024:
 
   
Number
of options
    
Weighted
average
exercise
price
    
Aggregate intrinsic value
  
                   
Outstanding - beginning of the year
    
2,279,400
      
8.63
      
-
  
Granted
    
860,730
      
6.68
      
0.1
  
Forfeited
    
(671,150
)
    
14.49
      
-
  
                         
Outstanding - end of the year
    
2,468,980
      
5.57
      
-
  
                         
Options exercisable at the end of the year
    
593,550
      
8.01
      
-
  
                         
Vested and expected to vest
    
593,550
      
8.01
      
-
  
 
The weighted average fair value of options granted during 2024, 2023 and 2022 was $1.7, $1.9 and $3.8 per option. The weighted average fair value of options vested during 2024, 2023 and 2022 was $9.56, $12.96 and $12.30 per option. The intrinsic value of options exercised during 2024, 2023 and 2022 was $0.
 
The intrinsic value of exercisable options (the difference between the Company’s closing share price on the last trading day in fiscal year 2024 and the average exercise price of in-the-money options, multiplied by the number of in-the-money options) included above represents the amount that would have been received by the option holders had all option holders exercised their options on December 31, 2024. This amount changes based on the fair market value of the Company’s ordinary shares.
 
The following is a summary of activities relating to the Company’s RSUs granted to employees under the Plan during the year ended December 31, 2024:
 
   
Number
of RSUs
    
Weighted
average
fair value
    
Aggregate intrinsic value
  
                   
Outstanding - end of the year
    
60,711
      
8.51
      
227
  
Granted
    
48,500
      
5.09
          
Exercised
    
(18,757
)
    
7.87
          
Forfeited
    
(17,764
)
    
4.00
          
                         
Outstanding - end of the year
    
72,690
      
6.13
      
309
  
                         
RSUs exercisable at the end of the year
    
-
      
-
      
-
  
                         
Vested and expected to vest
    
72,690
      
6.13
      
309
  
 
The awards outstanding as of December 31, 2024 have been separated into ranges of exercise price, as follows:
 
     
Awards outstanding
    
Awards exercisable
  
Exercise price
    
Number
of
options
    
Weighted
average
remaining
contractual
life (years)
    
Weighted
average
exercise
price
per share
    
Number
of
options
    
Weighted
average
remaining
contractual
life (years)
    
Weighted average exercise price
  
                                       
$
0.01 (RSUs)
      
72,690
      
5.85
    
$
0.01
      
-
      
-
    
$
-
  
$
4.0-9.5
      
2,196,080
      
6.10
    
$
4.7
      
358,125
      
5.74
    
$
5.03
  
$
10.2-19.7
      
272,900
      
3.33
    
$
12.57
      
235,425
      
3.17
    
$
12.53
  
                                                     
         
2,541,670
                      
641,325
                  
 
Compensation expenses related to options and RSUs granted were recorded in the consolidated statements of operations, as follows:
 
   
December 31,
  
   
2024
    
2023
  
             
Cost of revenues
  
$
90
    
$
95
  
Research and development expenses
    
86
      
89
  
Marketing and selling expenses
    
153
      
298
  
General and administrative expenses
    
1,715
      
543
  
                 
Total
  
$
2,044
    
$
1,025
  
v3.25.0.1
TRANSACTIONS WITH RELATED PARTIES
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
TRANSACTIONS WITH RELATED PARTIES
NOTE 14:-
TRANSACTIONS WITH RELATED PARTIES
 
Company's controlling shareholder, is Mifalei Sdot-Yam Agricultural Cooperative Society Ltd. (“Mifalei Sdot-Yam”), which is controlled by Sdot-Yam Business Holding and Management – Agricultural Cooperative Society Ltd., which is in turn controlled by Kibbutz Sdot-Yam (for convenience purposes, collectively referred as the “Kibbutz"). The Kibbutz has an ownership interest in the Company of approximately 30.2%, as of December 31, 2024.
 
On September 5, 2016, the Kibbutz and Tene Investment in Projects 2016 Limited Partnership (“Tene”) entered into the shareholders’ agreement (“Shareholders’ Agreement”), memorialized in a term sheet, pursuant to which both the Kibbutz and Tene are deemed the Company’s controlling shareholders under the Israeli Companies Law. The Shareholders’ Agreement further amended on February 20, 2018 and September 18, 2023, In which the amendment executed on September 18, 2023 (the “September Amendment”) replaced the Shareholders Agreement in its entirety. Pursuant to the September Amendment, the parties agreed, among other things, to vote at general meetings of the Company's shareholders in the same manner, following discussions intended to reach an agreement on any matters proposed to be voted upon. However, if no agreement is reached, the Kibbutz will determine the manner in which both parties will vote, except with respect to certain carved-out matters, to which Tene, for so long as it holds more than 3% of the issued and outstanding share capital of the Company, will determine the manner in which both parties will vote.
 
In addition, each of the Kibbutz and Tene shall be entitled to vote separately in any manner with respect to the appointment, replacement or terms of compensation of the Company’s Chief Executive Officer. Among others, according to the September Amendment Tene granted the Kibbutz a right of first refusal and the Kibbutz granted Tene certain tag-along rights with respect to their disposition of ordinary shares. If Tene sells more than 3% of the issued and outstanding share capital of the Company without providing the Kibbutz its right of first offer then certain rights contemplated under the September Amendment will terminate, including Tene’s tag-along right.
 
As of December 31, 2024 the Kibbutz and Tene beneficially own 14,029,494 ordinary shares (or approximately 40.6% of the outstanding).
 
The Company is party to a series of agreements with the Kibbutz that govern different aspects of the Company's relationship and are described below.
 
  a.
Manpower agreement with the Kibbutz:
 
On July 2011, the Company entered into a manpower agreement with The Kibbutz such was automatically renewed during 2023 for additional one year term, and will be automatically renewed again, unless one of the parties gives six months’ prior notice, for additional one-year periods.
 
On July 30, 2015, and on October 14, 2018, following the approval of Company's audit committee, compensation committee and board of directors, Company's shareholders approved an addendum to the Manpower Agreement by and between the Kibbutz and the Company, with respect to the engagement of office holders affiliated with the Kibbutz, for an additional three-year term as of the date of the shareholders’ approval.
 
During 2021, following the approval of Company’s audit committee and the board of directors, the manpower agreement is valid through 2030.
 
Under the manpower agreement and its addendum, the Kibbutz will provide the Company with labor services staffed by Kibbutz members, candidates for Kibbutz membership and Kibbutz residents (“Kibbutz Appointees”). The consideration to be paid for each Kibbutz Appointee will be based on the Company's total cost of employment for a non-Kibbutz Appointee employee performing a similar role. The number of Kibbutz Appointees may change in accordance with the Company's needs. Under the manpower agreement, the Company will notify the Kibbutz of any roles that require staffing, and if the Kibbutz offers candidates with skills similar to other candidates, the Company will give preference to hiring of the relevant Kibbutz members. the Kibbutz is entitled under this agreement, at its sole discretion, to discontinue the engagement of any Kibbutz Appointee of manpower services through his or her employment by the Kibbutz and require such appointee to become employed directly by the Company.
 
The manpower agreement and addendum also includes the Kibbutz’s obligation to customary liability, insurance, indemnification and confidentiality and intellectual property provisions. Office holders who are Kibbutz Appointees shall have all benefits applicable to Company's other office holders, including without limitation, directors’ and officers’ liability insurance, and Company's indemnification and exemption undertaking.
 
Manpower service fees paid were $1,347, 1,553 and $1,768 for the years ended December 31, 2024, 2023 and 2022, respectively.
 
  b.
Services from the Kibbutz:
 
On July 30, 2015, following the approval of the audit committee and the board, Company’s shareholders approved an amended services agreement pursuant to which, the Kibbutz will continue to provide various services it provides in the ordinary course of Company's business, for a period of three years commencing as of the date of approval by the shareholders.
 
On October 14, 2021, following the approval of the audit committee and the board, Company’s shareholders approved a further amended services agreement (“Amended Services Agreement”) for an additional period of three years. With the closure of the Sdot-Yam facility and the Kibbutz’s privatization process, most services under the agreement are no longer provided by the Kibbutz or needed, except for certain statutory and pass-through payments. In August 2024, the Company and the Kibbutz amended the services agreement for a three-year term to reflect these changes.
 
The amount that the Company pays to the Kibbutz under the Amended Services Agreement depends on the scope of services the Company will receive and is based on rates specified in such agreement which were determined based on market terms, taking into account the added value of consuming services from the Kibbutz, considering its physical proximity to Company’s manufacturing plant in Sdot-Yam and its expertise.
 
The amounts the Company pays for the services are subject to certain adjustments for increases in the Israeli consumer price index. In addition, the Amended Services Agreement grants The Kibbutz right of first proposal in special projects with respect to the metal workshop services. The amended services agreement also outlines the distribution mechanism between the Company and the Kibbutz for certain expenses and payments due to local authorities, such as certain taxes and fees in connection with the Company’s business facilities. Each party may terminate such agreement upon a material breach, following a 30-day prior notice, or upon liquidation of the other party, following a 45-days’ prior notice.
 
The Company's net service fees paid to the Kibbutz pursuant to the Original and Amended Services Agreements were $708, $810 and $1,334 for the years ended December 31, 2024, 2023 and 2022, respectively.
 
  c.
Land Use Agreement with the Kibbutz:
 
Land leased to the Kibbutz by the ILA and the Caesarea Development Corporation
 
The Company signed a land use agreement with the Kibbutz, which has a term of 20 years commencing on April 1, 2012. As per the agreement, the annual fee may be adjusted after January 1, 2021 and every three years thereafter, at the election of  the Kibbutz by obtaining an updated appraisal. During 2021, the Kibbutz elected this option and the parties mutually agreed upon a land appraiser, and based on its study the fees were adjusted for 2021 onwards for annual amount of approximately NIS 18,600,000 (approximately $5,980), linked to the Israeli consumer price index.
 
The Company's principal offices and research and development facilities are located on the grounds of the Kibbutz and include buildings spaces of approximately 30,744 square meters and unbuilt areas of approximately 60,870 square meters.
 
Under the land use agreement, the Company may not terminate the operation of either of its two production lines at its plant in the Kibbutz as long as the Company continues to operate production lines elsewhere in Israel, and its headquarters must remain at The Kibbutz. Notwithstanding with the above mentioned, during 2023 the Company announced on closing the Sdot Yam plant with the permission of the Kibbutz. The Company is still liable pursuant to the land use agreement as is. During 2023 and 2024 the Company subleased majority of the available area to third parties. Sublease income is recorded as a deduction from the rent fees (see also note 10).
 
In addition, the Company has committed to fund the cost of construction, up to a maximum of NIS 3.3 million (approximately $910) plus VAT, required to change the access road leading to The Kibbutz and its facilities, such that the entrance of the Company's facilities will be separated from the entrance into The Kibbutz. From the said amount, the Kibbutz has already set-off an amount of NIS 300,000 (approximately $83) for expenses incurred by it.
 
  d.
Financing liability of land:
 
Pursuant to the Land Use Agreement, the Company has entered into an agreement with The Kibbutz dated August 6, 2013, under which the Kibbutz acquired additional land of approximately 12,800 square meters on the grounds near the Company's Bar-Lev facility, which the Company required in connection with the construction of the fifth production line at the Company's Bar-Lev manufacturing facility, leased it to the Company for a monthly fee of approximately NIS 70,000 (approximately $22).
 
Under the agreement, the Kibbutz committed to (i) acquire the long-term leasing rights of the Additional Bar-Lev Land from the ILA, (ii) perform preparation work and construction, in conjunction with the administrative body of Bar-Lev industrial park and other contractors according to Company’s plans, (iii) build a warehouse according Company’s plans, and (iv) obtain all permits and approvals required for performing the preparation work of the Additional Bar-Lev Land and for the building of the warehouse. The warehouse in Bar-Lev will be situated both on the current and new land. The finance of the building of the warehouse will be made through a loan that will be granted by the Company to the Kibbutz, in the amount of the total cost related to the building of the warehouse and such loan, including principle and interest, shall be repaid by setoff of the lease due to Kibbutz Sdot Yam by the Company for its use of the warehouse. The principle amount of such loan will bear an interest at a rate of 1.4% a year. On November 30, 2015 the land preparation work had been completed and the holding of the Additional Bar-Lev Land was delivered to the Company. As of December 31, 2024, the construction of the warehouse has not started yet.
 
Pursuant to a land purchase and leaseback agreement, dated as of March 31, 2011, which became effective upon the Company’s IPO, between the Company and The Kibbutz, the Company completed the selling of the rights in the lands and facilities of the Bar-Lev Industrial Center (the "Bar-Lev Grounds") to The Kibbutz in consideration for NIS 43.7 million (approximately $10,900). The land purchase agreement was executed simultaneously with the execution of a land use agreement. Pursuant to the land use agreement, the Kibbutz permits the Company to use the Bar-Lev Grounds for a period of 10 years commencing on September 2012 that will be automatically renewed, unless the Company gives two years prior notice, for a ten-year term in consideration for an annual fee of NIS 4.1 million (approximately $1,200) to be linked to increases in the Israeli consumer price index. As per the agreement, the fee is subject to adjustment following January 1, 2022 and every three years thereafter at the option of The Kibbutz if The Kibbutz chooses to obtain an appraisal that supports such an increase. The appraiser would be mutually agreed upon or, in the absence of agreement, will be chosen by the Kibbutz from a list of assessors recommended at that time by Bank Leumi. During 2022, the Kibbutz elected this option and the parties mutually agreed upon a land appraiser, and based on its study the fees were adjusted for 2022 onwards for total annual amount of approximately NIS 8,100,000 (approximately $2,600), linked to the Israeli consumer price index.
 
The transaction was not qualified as "sale lease-back" accounting under both ASC 840 and ASC 842 and the Company recorded the entire amount received as consideration as a liability.
 
The financing liability of land from a related party matured in August 31, 2022. Commencing September 2022, lease fees expenses are recorded based on the land use agreement.
 
The Company's payments pursuant to the land use agreements related to Sdot-Yam and Bar-Lev mentioned above totaled to $8,129, $7,857 and $8,162 for the years ended December 31, 2024, 2023 and 2022, respectively.
 
  e.
Details on transactions and balances with related parties and other loan:
 
  1.
The Company has, from time to time, entered into transactions with its shareholders (the Kibbutz). The following table summarizes such transactions:
 
   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
                   
Cost of revenues
  
$
7,893
    
$
8,232
    
$
8,870
  
                         
Research and development
  
$
520
    
$
486
    
$
574
  
                         
Selling and marketing
  
$
927
    
$
621
    
$
730
  
                         
General and administrative
  
$
811
    
$
848
    
$
951
  
                         
Finance expenses, net
  
$
-
    
$
-
    
$
(392
)
 
  2.
Balances with related party and other loan:

 
   
December 31,
  
   
2024
    
2023
  
             
Related party balances (1)
  
$
206
    
$
257
  
                 
Other loans (2)
  
$
444
    
$
479
  

 

  1.
Related to the above mentioned agreements with related party.
 
  2.
Related to the shareholders loan in Lioli.
v3.25.0.1
LONG-TERM BANK LOAN
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
LONG-TERM BANK LOAN
NOTE 15:-
LONG-TERM BANK LOAN
 
  a.
As part of the Lioli’s acquisition in 2020, Lioli assumed also a bank loan from commercial banks in India. The loan agreement includes certain covenants that Lioli is required to meet. As of December 31, 2024 and 2023 the covenants are met (see also Note 8).
 
  b.
During 2022, Lioli refinanced its old loan and signed on a new loan agreement with HDFC Bank. The new loan is denominated in Indian rupee and as of Dec 31, 2024 the loan carries interest rate of 9.1% (linked to MCLR). The long-term loan repayable in equal monthly installment till October 2025 and outstanding balance as of December 31, 2024 is $2,021 is presented as a short term liabilities.
 
  c.
The loan is secured by creating charge on Lioli’s land, building and plant and machineries and current assets including stock, receivables and other current assets. The Company has also provided the stand by letter of credit as a security.
v3.25.0.1
SEGMENT, MAJOR CUSTOMER AND GEOGRAPHIC INFORMATION
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SEGMENT, MAJOR CUSTOMER AND GEOGRAPHIC INFORMATION
NOTE 16:-
SEGMENT, MAJOR CUSTOMER AND GEOGRAPHIC INFORMATION
 
  a.
The Company manages its business on the basis of one operating segment and derives revenues mainly from the sale of high quality engineered stone and other materials surfaces. The data is presented in accordance with Accounting Standard Codification 280, "Segments Reporting" ("ASC 280").
 
The Company's chief operating decision maker ("CODM") is its chief executive officer, who reviews financial information presented on a consolidated basis. The CODM assesses the performance of the Company and decides how to allocate resources based upon consolidated net loss that is also reported within the Consolidated Statements of Operations. This financial metric is used by the CODM to make key operating decisions, such as the determination of the rate at which the Company seeks to grow global revenues and the allocation of budget between cost of revenues, sales and marketing, research and development, and general and administrative expenses.
 
Significant segment expenses are presented in the Company’s consolidated statements of operations. See the consolidated financial statements for other financial information regarding the Company’s operating segment.
 
  b.

The following table presents total revenues for the years ended December 31, 2024, 2023 and 2022, respectively. Revenues are attributed to geographic areas based on the location of end customers:

 
   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
                   
USA
  
$
219,559
    
$
271,647
    
$
342,293
  
Canada
     61,749      
75,462
      
93,377
  
Latin America
    
1,392
      
3,285
      
4,481
  
Australia
    
75,388
      
106,223
      
116,284
  
Asia
    
20,577
      
25,959
      
34,607
  
EMEA
    
47,121
      
59,908
      
63,320
  
Israel
    
17,435
      
22,747
      
36,444
  
                         
   
$
443,221
    
$
565,231
    
$
690,806
  

 

No customer represented 10% or more of the Company’s total revenues for the years ended December 31, 2024, 2023 and 2022.
 
  c.
The following table presents total long-lived assets as of December 31, 2024 and 2023, respectively (including held for sale assets, property, plant and equipment, intangible assets and operating lease right-of-use assets) by geographic area:

 
   
December 31,
  
   
2024
    
2023
  
             
USA
  
$
87,861
    
$
100,886
  
Canada
    
10,506
      
4,685
  
Australia
    
5,618
      
7,885
  
Asia
    
19,435
      
22,630
  
EMEA
    
11,315
      
13,794
  
Israel
    
89,791
      
100,013
  
                 
   
$
224,526
    
$
249,893
  
v3.25.0.1
SELECTED SUPPLEMENTARY STATEMENTS OF INCOME DATA
 12 Months Ended
Dec. 31, 2024
Supplemental Income Statement Elements [Abstract]  
SELECTED SUPPLEMENTARY STATEMENTS OF INCOME DATA
NOTE 17:-
SELECTED SUPPLEMENTARY STATEMENTS OF INCOME DATA
 
  a.
Finance (income) expense, net:
 
   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
Finance expenses:
                  
                   
Interest in respect of credit cards and bank fees
  
$
3,846
    
$
4,957
    
$
5,380
  
Interest in respect of loans
    
300
      
377
      
346
  
Amortization/accretion of premium/discount on marketable securities
    
-
      
-
      
237
  
Realized gain/loss from marketable securities, net
    
-
      
63
      
-
  
Changes in derivatives fair value
    
430
      
-
      
1,509
  
Foreign exchange transactions losses
    
1,781
      
154
      
3,818
  
                         
     
6,357
      
5,551
      
11,290
  
Finance income:
                        
                         
Interest in respect of cash and cash equivalent and short-term bank deposits
    
4,799
      
1,473
      
20
  
Changes in derivatives fair value
    
-
      
680
      
-
  
Interest income from marketable securities
    
-
      
107
      
287
  
Foreign exchange transactions gains
    
1,549
      
4,360
      
14,062
  
                         
     
6,348
      
6,620
      
14,369
  
                         
Finance expenses (income), net
  
$
9
    
$
(1,069
)
  
$
(3,079
)

 

  b.
Net earnings (loss) per share:
 
The following table sets forth the computation of basic and diluted net earnings per share:
 
Numerator:
 
   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
                   
Net loss attributable to controlling interest, as reported
  
$
(42,832
)
  
$
(107,656
)
  
$
(57,054
)
Adjustment to redemption value of non-controlling interest
    
3,782
      
(532
)
    
(198
)
                         
Numerator for basic and diluted net loss per share
  
$
(39,050
)
  
$
(108,188
)
  
$
(57,252
)
 
Denominator (in thousands):
 
   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
                   
Denominator for basic and diluted loss per share
    
34,539
      
34,519
      
34,488
  
 
Earnings per share:
 
Basic and diluted loss per share
  
$
(1.13
)
  
$
(3.13
)
  
$
(1.66
)
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Net Income (Loss) $ (42,832) $ (107,656) $ (57,054)
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Cybersecurity Risk Management and Strategy
 
We have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information.
 
Our program’s design is based on the NIST (National Institute of Standards and Technology framework). This does not imply that we meet any particular technical standards, specifications, or requirements, but only that we use the NIST cyber security framework (CSF) as a guide to help us identify, assess, and manage cybersecurity risks relevant to our business, and in its design was aided by external advisors experts in the field.
 
Our cybersecurity risk management program shares common methodologies, reporting channels and governance processes that apply across the enterprise to other legal, compliance, strategic, operational, and financial risk areas.
 
Our cybersecurity risk management program includes:
 
 
•
risk assessments designed to help identify material cybersecurity risks to our critical systems, information, products, services, and our broader enterprise IT environment;
 
 
•
a security team principally responsible for managing our cybersecurity risk assessment processes,  our security controls, and our response to cybersecurity incidents;
 
 
•
the use of external service providers, where appropriate, to assess, test or otherwise assist with aspects of our security controls;
 
 
•
cybersecurity awareness training of our employees, incident response personnel, and senior management;
 
 
•
a cybersecurity incident response plan that includes procedures for responding to cybersecurity incidents; and
 
 
•
a third-party risk management process for service providers, suppliers, and vendors.
 
We have not identified risks from known cybersecurity threats, including as a result of any prior cybersecurity incidents that have materially affected or are reasonably likely to materially affect us, including our operations, business strategy, results of operations, or financial condition.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] We have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block] We have not identified risks from known cybersecurity threats, including as a result of any prior cybersecurity incidents that have materially affected or are reasonably likely to materially affect us, including our operations, business strategy, results of operations, or financial condition.
Cybersecurity Risk Board of Directors Oversight [Text Block]
Cybersecurity Governance
 
Our board of directors considers cybersecurity risk as part of its risk oversight function and has delegated to the Audit Committee oversight of cybersecurity and other information technology risks, among other, via the internal audit plan. The audit committee oversees management’s activities to address the cybersecurity risk.
 
The board of directors and our audit committee receive reports from management and internal auditor on our cybersecurity risks. In addition, management updates the audit committee, as necessary, regarding any material cybersecurity incidents, as well as any incidents with lesser impact potential. In addition, they periodically receive briefings from management on our cyber security activities and incidents.
 
Our Cybersecurity Steering Committee, including our CEO, CFO, CIO, Information security manager and Director of IT Infrastructure, is convening on a quarterly basis and is responsible for assessing and managing our material risks from cybersecurity threats. The team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Our cybersecurity management team’s skills and experience cover the areas of management, finance, investor relations, legal, Information Systems and Infrastructure and cyber security.
 
Our cybersecurity management team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in the IT environment.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Our board of directors considers cybersecurity risk as part of its risk oversight function and has delegated to the Audit Committee oversight of cybersecurity and other information technology risks, among other, via the internal audit plan. The audit committee oversees management’s activities to address the cybersecurity risk.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] The board of directors and our audit committee receive reports from management and internal auditor on our cybersecurity risks. In addition, management updates the audit committee, as necessary, regarding any material cybersecurity incidents, as well as any incidents with lesser impact potential. In addition, they periodically receive briefings from management on our cyber security activities and incidents.
Cybersecurity Risk Role of Management [Text Block]
The board of directors and our audit committee receive reports from management and internal auditor on our cybersecurity risks. In addition, management updates the audit committee, as necessary, regarding any material cybersecurity incidents, as well as any incidents with lesser impact potential. In addition, they periodically receive briefings from management on our cyber security activities and incidents.
 
Our Cybersecurity Steering Committee, including our CEO, CFO, CIO, Information security manager and Director of IT Infrastructure, is convening on a quarterly basis and is responsible for assessing and managing our material risks from cybersecurity threats. The team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Our cybersecurity management team’s skills and experience cover the areas of management, finance, investor relations, legal, Information Systems and Infrastructure and cyber security.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Our Cybersecurity Steering Committee, including our CEO, CFO, CIO, Information security manager and Director of IT Infrastructure, is convening on a quarterly basis and is responsible for assessing and managing our material risks from cybersecurity threats. The team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our cybersecurity management team’s skills and experience cover the areas of management, finance, investor relations, legal, Information Systems and Infrastructure and cyber security.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] Our cybersecurity management team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in the IT environment.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
SIGNIFICANT ACCOUNTING POLICIES (Policies)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Use of estimates
  a.
Use of estimates:
 
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. The Company's management believes that the estimates, judgment and assumptions used are reasonable based upon information available at the time they were made.
Financial statements in U.S. dollars
  b.
Financial statements in U.S. dollars:
 
The Company's revenues are generated in various currencies mainly in U.S. dollars (USD), Australian dollars (AUD) and Canadian dollars (CAD). In addition, most of the Company's costs are incurred in USD, NIS and EUR.
 
The Company’s management believes that the USD is the primary currency of the economic environment in which the Company operates. Thus, the functional and reporting currency of the Company is the USD.
 
The functional currency of the Company's foreign subsidiaries is the local currency in which the relevant subsidiary operates.
 
Accordingly, monetary accounts maintained in currencies other than the USD are re-measured into dollars in accordance with Accounting Standards Codification, "Foreign Currency Matters" (“ASC 830”). All transaction gains and losses resulting from the re-measurement of monetary balance sheet items denominated in non-USD currencies are reflected in the statements of operations as financial income or expenses as appropriate.
 
The financial statements of the Company’s subsidiaries of which the functional currency is not the USD have been translated into the USD. All amounts on the balance sheets have been translated into the USD using the exchange rates in effect on the relevant balance sheet dates. All amounts in the statements of income have been translated into the USD using the monthly average exchange rate in accordance with ASC 830. The resulting translation adjustments are reported as a component of accumulated other comprehensive income (loss), net in shareholders' equity.
Principles of consolidation
  c.
Principles of consolidation:
 
The consolidated financial statements include the accounts of the Company and its wholly and majority-owned subsidiaries (see also Note 1). Inter-company transactions and balances, including profit from inter-company sales not yet realized outside of the Company, have been eliminated upon consolidation.
Cash equivalents
  d.
Cash equivalents:
 
Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three months or less at the date acquired.
Short-term bank deposits
  e.
Short-term bank deposits:
 
Short-term bank deposits are deposits with original maturities of more than three months but less than one year. Short-term bank deposits are presented at their cost, which approximates their fair value.
Derivatives
  f.
Derivatives:
 
ASC 815, “Derivative and Hedging” ("ASC 815"), requires companies to recognize all of their derivative instruments as either assets or liabilities in the statement of financial position at fair value.
 
For those derivative instruments that are designated and qualify as hedging instruments, a company must designate the hedging instrument, based upon the exposure being hedged, as a fair value hedge, cash flow hedge or a hedge of a net investment in a foreign operation.
 
Derivative instruments designated as hedging instruments:
 
For derivative instruments that are designated and qualify as a cash flow hedge (i.e., hedging the exposure to variability in expected future cash flows that is attributable to a particular risk), the effective portion of the gain or loss on the derivative instrument is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same period during which the hedged transaction affects earnings.
 
The remaining gain or loss on the derivative instrument in excess of the cumulative change in the present value of future cash flows of the hedged item, if any, is recognized in current earnings during the period of change. For derivative instruments not designated as hedging instruments, the gain or loss is recognized in current earnings during the period of change.
 
To hedge against the risk of overall changes in cash flows resulting from foreign currency salary and other recurring payments during the periods, the Company has instituted a foreign currency cash flow hedging program.
 
These forward contracts are designated as cash flow hedges, as defined by ASC 815, and are all effective, as their critical terms match the underlying transactions being hedged.
 
As of December 31, 2024 and 2023, the notional amount of these forward contracts into which the Company entered was $2,525 and $21,162, respectively, and the unrealized income recorded in accumulated other comprehensive income, net, from the Company's currency forward NIS transactions was $110 and $539, respectively.

 

The following tables present fair value amounts of, and gains and losses recorded in relation to, the Company's derivative instruments and related hedged items:

 

             
Balance sheet
  
Fair value of
derivative instruments
  
                        
Year ended
December 31,
  
                 
2024
    
2023
  
Derivative assets:
                          
                           
Derivatives designated as hedging instruments:
                              
Foreign exchange option and forward contracts
                
Other accounts receivable and prepaid expenses
    
110
      
539
  
                                   
                                   
Total
                
 
    
110
      
539
  
 
   
Gain (loss) recognized in other comprehensive income, net
  
Gain (loss) recognized in
statements of income
  
   
Year ended
December 31,
  
Statements of income
  
Year ended
December 31,
  
   
2024
    
2023
  
Item
  
2024
    
2023
  
Derivatives designated as hedging instruments:
                          
                           
Foreign exchange forward contract
    
(429
)
    
951
  
Cost of revenues and Operating expenses
    
500
      
(3,306
)
 
                
 
                
Derivatives not designated as hedging instruments:
                
 
                
Foreign exchange forward and options contracts
    
-
      
-
  
Financial expenses, net
    
6
      
1,313
  
Styrene forward contracts
    
-
      
-
  
Financial expenses, net
    
-
      
113
  
 
                
 
                
Total
    
(429
)
    
951
  
 
    
506
      
(1,880
)
Inventories
  h.
Inventories:
 
Inventories are stated at the lower of cost and net realizable value. The Company periodically evaluates the quantities on hand relative to historical and projected sales volumes, aging, current and historical selling prices and contractual obligations to maintain certain levels of raw material quantities. Based on these evaluations, inventory provision is provided to cover risks arising from slow-moving items, discontinued products, excess inventories, net realizable value lower than cost and adjusted revenue forecasts.
 
Cost is determined as follows:
 
Raw Materials - cost is determined on a standard cost basis which approximates actual costs on a weighted average basis.
 
Work-in progress and finished products - are based on standard cost (which approximates actual cost on a weighted average basis) which includes raw materials cost, labor and manufacturing overhead.
 
Finished goods are stated at the lower of cost and net realizable value.
 
The following table provides the details of the change in the Company's provision for inventory write-downs:

 

   
December 31,
  
   
2024
    
2023
  
             
Inventory provision, beginning of year
  
$
27,438
    
$
21,738
  
Increase (decrease) in inventory provision
    
(4,208
)
    
9,848
  
Write off
    
(3,290
)
    
(4,148
)
                 
Inventory provision, end of year
  
$
19,940
    
$
27,438
  
Property, plant and equipment, net
  i.
Property, plant and equipment, net:
 
  1.
Property, plant and equipment are stated at cost, net of accumulated depreciation and investment grants.
 
  2.
Costs recorded prior to a production line completion are reflected as construction in progress, which are recorded building and machinery assets at the date of purchase. Construction in progress includes direct expenditures for the construction of the production line and is stated at cost. Capitalized costs include costs incurred under the construction contract: advisory, consulting and direct internal costs (including labor) and operating costs incurred during the construction and installation phase.
 
  3.
Depreciation is calculated using the straight-line method over the estimated useful life of the assets at the following annual rates:

 
 
%
   
Machinery and manufacturing equipment
4 - 33 (mainly 10)
Office equipment and furniture
7 - 33 (mainly 7)
Motor vehicles
10 - 30 (mainly 20)
Buildings
4 - 5
Leasehold improvements
Over the shorter of the term of the lease or the life of the asset
Leases
  j.
Leases:
 
The Company determines if an arrangement is a lease at inception and recognize in accordance with ASC 842 “Leases”. Operating leases are included in operating lease right-of-use (“ROU”) assets, other current liabilities and operating lease liabilities in the Company’s consolidated balance sheets.
 
ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term.
 
The Company uses incremental borrowing rates based on the Company's implied credit rating which was based on Moody's Investors Service Rating Methodology for the Building Materials Industry (such credit rating was notched up due to collateralization) at commencement date. The operating lease ROU asset also includes any lease payments made and excludes lease incentives, if any. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expenses for lease payments are recognized on a straight-line basis over the lease term. See also Note 10.
Impairment of long-lived assets
  k.
Impairment of long-lived assets:
 
The Company's long-lived assets (assets group) to be held or used, including right of use assets, tangible and finite-lived intangible assets (other than goodwill), are reviewed for impairment in accordance with ASC 360 "Property, Plant and Equipment" ("ASC 360") whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.
 
The Company's evaluation of recoverability is performed at the lowest level of assets group to which identifiable cash flows are largely independent of the cash flows of other asset group. Recoverability of the asset group is measured by a comparison of the aggregate undiscounted future cash flows the asset group is expected to generate to the carrying amounts of the asset group. If such evaluation indicates that the carrying amount of the asset group is not recoverable, an impairment loss is calculated based on the excess of the carrying amount of the asset group over its fair value.
 
The Company identifies indicators for impairment, among others, slow down in demand due to global market conditions, lower production utilization in certain plants, increased inflation and higher interest rates, integration challenges of acquired businesses, and the manufacturing facilities closure in Sdot Yam and in Richmond hill. In 2022, the Company recorded an impairment loss for the excess of the book value over its fair value related to Sdot Yam manufacturing facility, in the amount of $26,429.
 
During 2023, the Company recorded an impairment loss for the excess of the book value over its fair value related to US manufacturing facility, in the amount of $27,486 and additional impairment loss related to Sdot Yam manufacturing facility in the amount of $986. Following the closure of Sdot Yam manufacturing facility, the Company evaluated it's right of use asset resulted from non-cancelable lease agreement effective through 2032. The Company recorded an impairment of $16,575 for its sublease facility.
 
During 2024, the Company decided to sale its Richmond hill plant and reclassified the fair value of the asset in its consolidated balance sheet to Held-for sale-assets. Held-for-sale assets are measured at the lower of carrying amount or fair value, under ASC 360-10-45. As of December 31, 2024, the Company recorded an impairment loss for the excess of the book value over its fair value related to held for sale asset, in the amount of $3,800. The Company also recorded during 2024 an impairment loss related to it's intangibles assets in the amount of $3,236 as part of the assets group assessment.
 
In addition to the recoverability assessment, the Company routinely reviews the remaining estimated useful lives of property and equipment and finite-lived intangible assets. If the Company reduces the estimated useful life assumption for any asset, the remaining unamortized balance would be amortized or depreciated over the revised estimated useful life.  
Goodwill
  l.
Goodwill:
 
Goodwill represents the excess of the cost of businesses acquired over the fair value of the net assets acquired in the acquisition. Under ASC 350, "Intangibles-Goodwill and Other" ("ASC 350") goodwill is not amortized but instead is tested for impairment at least annually (or more frequently if impairment indicators arise).
 
The goodwill impairment test is performed according to the following principles:
 
  (1)
An initial qualitative assessment may be performed to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount.
 
  (2)
If the Company concludes it is more likely than not that the fair value of the reporting unit is less than its carrying amount, a quantitative fair value test is performed. An impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value is recognized.
 
The Company performed an annual goodwill impairment test during the fourth quarter of each fiscal year, or more frequently, if an event occurs or circumstances change that would indicate the carrying amount may be impaired. The Company operates as one reporting unit, and concluded that all of the Company's reporting units should be aggregated and deemed as a single reporting unit for the purpose of performing the goodwill impairment test in accordance with ASC 350-20-35-35, since they have similar economic characteristics.
 
The fair value of the reporting unit was estimated in accordance with ASC 820, "Fair Value Measurements". The Company applied assumptions that marketplace participants would consider in determining the fair value of its reporting unit.
 
The process of evaluating the potential impairment of goodwill is subjective and requires significant judgment. Significant estimates used in the fair value methodologies include estimates of future cash flows, future short-term and long-term growth rates and weighted average cost of capital.
 
As of December 31, 2022, the company performed an impairment test of the goodwill in accordance with ASC350, and recognized a full impairment charge for its goodwill balances in the amount of $44,829. (see also Note 7).
 
As of December 31, 2024, the Company did not have any goodwill balance.
Warranty
  m.
Warranty:
 
The Company generally provides a standard (i.e. assurance type) warranty for its products, for various periods, depending on the type of product and the country in which the Company does business. The Company records a provision for the estimated cost to repair or replace products under warranty at the time of sale. Factors that affect the Company's warranty reserve include the number of units sold, historical and anticipated rates of warranty repairs and the cost per repair.
 
The following table provides the details of the change in the Company's warranty accrual:

 

   
2024
    
2023
  
             
January 1,
  
$
2,358
    
$
2,501
  
                 
Charged to costs and expenses relating to new sales
    
368
      
1,289
  
Costs of product warranty claims
    
(844
)
    
(1,792
)
Foreign currency translation adjustments
    
(156
)
    
360
  
                 
December 31,
    
1,726
      
2,358
  
Revenue recognition
  n.
Revenue recognition:
 
Revenues are recognized in accordance with ASC 606, revenue from contracts with customers when control of the promised goods or services is transferred to the customers, in an amount that the Company expects in exchange for those goods or services.
 
The Company applies the following five steps in accordance to ASC 606: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when a performance obligation is satisfied.
 
1.          Identify the contract with a customer:
 
A contract is an agreement between two or more parties that creates enforceable rights and obligations. In evaluating the contract, the Company analyzes the customer’s intent and ability to pay the amount of promised consideration (credit risk) and considers the probability of collecting substantially all of the consideration. The Company determines whether collectability is probable on a customer-by-customer basis pursuant to various criteria including Company’s historical experience, credit insurance and other inputs.
 
2.          Identify the performance obligations in the contract:
 
At a contract’s inception, the Company assesses the goods or services promised in a contract with a customer and identifies the performance obligations. The main performance obligation is a delivery of the Company’s products. The Company also adjusts the amounts of revenue for expected cash discounts, sales allowances, returns based upon historical experience, and projected collectability.
 
3.          Determine the transaction price:
 
The Company’s products that are sold through agreements with distributors are non-exchangeable, non-refundable, non-returnable and without any rights of price protection or stock rotation. Accordingly, the Company considers all the distributors to be end-consumers.
 
For certain revenue transactions with specific customers, the Company is responsible also for the fabrication and installation of its products. The Company recognizes such revenues upon receipt of acceptance evidence from the end consumer which occurs upon completion of the installation.
 
Although, in general, the Company does not grant rights of return, there are certain instances where such rights are granted. The Company maintains a provision for returns in accordance with ASC 606, which is estimated, based primarily on historical experience as well as management judgment, and is recorded through a reduction of revenue. The Company also adjusts the amounts of revenue for expected cash discounts, sales allowances, and projected collectability.
 

Sales and other taxes collected from customers on behalf of governmental authorities are accounted for on a net basis and are not included in revenues or operating expenses.

 
The Company has elected to apply the practical expedient such that it does not evaluate payment terms of one year or less for the existence of a significant financing component.
 
4.          Allocate the transaction price to the performance obligations in the contract:
 
The majority of the Company’s revenues are sales of goods, therefore there is one main performance obligation that absorbs the transaction price.
 
For certain revenue transactions with specific customers, the Company is responsible also for the fabrication and installation of its products. The Company recognizes such revenues upon receipt of acceptance evidence from the end consumer which occurs upon completion of the installation.
 
5.          Recognize revenue when a performance obligation is satisfied:
 
Revenue is recognized when or as performance obligations are satisfied by transferring control of a promised good or service to a customer. Control transfers at a point in time, which affects when revenue is recorded. The majority of Company’s revenues deriving from sales of products which are recognized when control is transferred. which includes but is not limited to, the agreed International Commercial terms, or “INCOTERMS”.Payment terms between the Company and its customers are vary by the type of payer and country of sale.
Research and development costs
  o.
Research and development costs:
 
Research and development costs are charged to the statement of operations as incurred.
Income taxes
  p.
Income taxes:
 
The Company and its subsidiaries account for income taxes in accordance with ASC 740, "Income Taxes" (“ASC 740”). This statement prescribes the use of the liability method whereby deferred tax asset and liability account balances are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse.
 
The Company accounts for its uncertain tax positions in accordance with ASC 740-10. ASC 740-10 contains a two-step approach to recognizing and measuring uncertain tax positions accounted for in accordance with ASC 740. The first step is to evaluate the tax position taken or expected to be taken in a tax return by determining if the weight of available evidence indicates that it is more likely than not that, on an evaluation of the technical merits, the tax position will be sustained on audit, including resolution of any related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. The Company classifies interest and penalties on income taxes as taxes on income, if relevant.
Advertising expenses
  q.
Advertising expenses:
 
Advertising costs are expensed as incurred. Advertising expenses for the years ended December 31, 2024, 2023 and 2022 were $14,516, $15,726 and $14,777, respectively.
Concentrations of credit risk
  r.
Concentrations of credit risk
 
Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, marketable securities and trade receivables. The Company's cash and cash equivalents are invested primarily in USD, mainly with major banks in Israel.
 
The Company's debt marketable securities include investments in highly-rated corporate debentures (located mainly in U.S.) and governmental bonds. The financial institution that holds the Company's debt marketable securities is a major financial institution located in the United States. The Company believes that its marketable securities portfolio is a diverse portfolio of highly-rated securities and the Company's investment policy limits the amount the Company may invest in an issuer (see Note 3).
 
The Company's trade receivables are derived from sales to customers located mainly in the United States, Australia, Canada, Israel and Europe. The Company performs ongoing credit evaluations of its customers and to date has not experienced any substantial losses. In certain circumstances, the Company requires letters of credit or prepayments. An allowance for credit losses is provided with respect to specific receivables that the Company has determined to be doubtful of collection. For those receivables not specifically reviewed, provisions are recorded, based upon the age of the receivable, the collection history, current economic trends and management estimates of future economic conditions.
 
No customer represented 10% or more of the Company’s total accounts receivables, net as of December 31, 2024 and 2023.
 
The following table provides the detail of the change in the Company's allowance for credit loss:

 

   
2024
    
2023
  
             
January 1,
  
$
12,214
    
$
9,756
  
                 
Charges to expenses
    
(1,944
)
    
3,654
  
Write offs
    
(1,095
)
    
(1,158
)
Foreign currency translation adjustments
    
(71
)
    
(38
)
                 
December 31,
  
$
9,104
    
$
12,214
  
Severance pay
  s.
Severance pay:
 
The Company's liability for severance pay, with respect to its Israeli employees, is calculated pursuant to Israeli severance pay law and employee agreements based on the most recent salary of the employees. The Company's liability for all of its Israeli employees is provided for by monthly deposits with insurance policies and by an accrual. The value of these policies is recorded as an asset on the Company's balance sheet.
 
The deposited funds include profits or losses accumulated up to the balance sheet date. The deposited funds may be withdrawn only upon the fulfillment of the obligations pursuant to Israeli severance pay law or labor agreements.
 
Majority of the agreements with employees specifically state, in accordance with section 14 of the Severance Pay Law, 1963 ("Section 14"), that the Company's contributions for severance pay shall be instead of severance compensation and that upon release of the policy to the employee, no additional calculations shall be conducted between the parties regarding the matter of severance pay and no additional payments shall be made by the Company to the employee.
 
Further, since the Company has signed agreements with its employees under Section 14, the related obligation and amounts deposited on behalf of such obligation are not stated on the balance sheet, as they are legally released from obligation to employees once the deposit amounts have been paid.
 
Severance pay expenses for the years ended December 31, 2024, 2023 and 2022 amounted to approximately $1,647, $2,102 and $2,614, respectively.
Fair value of financial instruments
  t.
Fair value of financial instruments:
 
In accordance with ASC 820, the Company measures the below assets and liabilities at fair value using the various valuation techniques. The assets and liabilities are classified within Level 1 for using quoted market prices, Level 2 for alternative pricing sources and models utilizing market observable inputs, and Level 3 unobservable inputs which are supported by little or no market activity, also using third party appraisers.
 
The following table sets forth the Company’s assets and liabilities that were measured at fair value as of December 31, 2024 and 2023 by level within the fair value hierarchy:
 
    Fair Value  
Fair value measurements
as of December 31,
  
Description
  
Hierarchy
  
2024
    
2023
  
 
                
Measured at fair value on a recurring basis:
                
 
                
Assets:
                
Derivative assets
  
Level 2
  
$
110
    
$
539
  
                     
Redeemable Non-Controlling Interest (*):
  
Level 3
  
$
2,200
    
$
7,789
  
 
(*) During 2024 the Company acquired additional redeemable non-controlling interest in Lioli (see also note 1). As of December 31, 2024 the Company estimated the value of the redeemable non-controlling interest based on the settlement price which represents its redeemable value.The Company estimated the fair value of redeemable non-controlling interest using Monte Carlo simulation in previous years. The valuation requires management to make certain assumptions about the model inputs, including forecast cash flows, the discount rate and the volatility. The fair value measurement is based on inputs not observable in the market and thus represent Level 3 measurements as defined in ASC 820.
 
Measured at fair value on a nonrecurring basis:
 
  (a)
As of December 31, 2024, in accordance with Subtopic 360-10, long-lived assets held and used were written down to their fair value, resulting in an impairment charge of $3,800 related to held for sale asset in the Richmond Hill facility, and $3,236 related to intangible assets.
 
As of December 31, 2023, in accordance with Subtopic 360-10, long-lived assets held and used were written down to their fair value, resulting in an impairment charge of $28,472 related to Property Plant and Equipment included in US and Sdot Yam manufacturing facility, and $16,575 related to ROU asset related to Sdot Yam.
 
  (b)
As of December 31, 2024 and 2023, the goodwill balance was $0. During fiscal year 2022, in accordance with Subtopic 350-20, goodwill was written down in an impairment charge of $44,829, which was included in the consolidated statements of income for that period.
 
The carrying amounts of financial instruments not measured at fair value, including cash and cash equivalents, trade receivables, other accounts receivables, trade payables, accrued expenses and other liabilities, short term loans and short term bank credit, approximate their fair value due to the short-term maturities of such instruments.
Basic and diluted net income (loss) per share
  u.
Basic and diluted net income (loss) per share:
 
Basic net income (loss) per share ("Basic EPS") is computed by dividing net income (loss) attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period.
 
Diluted net income (loss) per share ("Diluted EPS") gives effect to all dilutive potential ordinary shares outstanding during the period. The computation of Diluted EPS does not assume conversion, exercise or contingent exercise of securities that would have an anti-dilutive effect on earnings. The dilutive effect of outstanding stock options is computed using the treasury stock method. For the years ended December 31, 2024, 2023 and 2022 there were approximately 2,495,479, 2,310,543, and 1,534,500 outstanding stock options, respectively, that were excluded from the computation of Diluted EPS, that would have had an anti dilutive effect if included.
Comprehensive income and accumulated other comprehensive income (loss)
  v.
Comprehensive income and accumulated other comprehensive income (loss):
 
Comprehensive income consists of two components, net income and other comprehensive income ("OCI"). OCI refers to revenue, expenses, and gains and losses that under U.S. GAAP are recorded as an element of shareholders’ equity but are excluded from net income. Company’s OCI consists of foreign currency translation adjustments from those subsidiaries not using the USD as their functional currency and net deferred gains and losses on certain derivative instruments accounted for as cash flow hedges and marketable securities.
 
The total accumulated other comprehensive income ("AOCI"), net of tax was comprised as follows:

 

   
December 31,
  
   
2024
    
2023
  
             
Accumulated income on derivative instruments
    
110
      
539
  
Accumulated foreign currency translation differences and other
    
(14,980
)
    
(8,941
)
                 
Total accumulated other comprehensive loss, net
  
$
(14,870
)
  
$
(8,402
)
 
The following table summarizes the changes in AOCI, net of taxes for the year ended:

 

   
Unrealized gains (losses) on derivative instruments
    
Unrealized gains (losses) on marketable securities
    
Accumulated foreign currency translation differences and other
    
Total
  
                         
Balance at January 1, 2023
    
(412
)
    
(125
)
    
(9,041
)
    
(9,578
)
                                 
Other comprehensive income (loss) before reclassifications
    
(2,355
)
    
125
      
100
      
(2,130
)
Amounts reclassified from AOCI
    
3,306
      
-
      
-
      
3,306
  
                                 
Net current period OCI
    
951
      
125
      
100
      
1,176
  
                                 
Balance at December 31, 2023
    
539
      
-
      
(8,941
)
    
(8,402
)
                                 
Other comprehensive income (loss) before reclassifications
    
71
      
-
      
(6,039
)
    
(5,968
)
Amounts reclassified from AOCI
    
(500
)
    
-
      
-
      
(500
)
                                 
Net current period OCI
    
(429
)
    
-
      
(6,039
)
    
(6,468
)
                                 
Balance at December 31, 2024
    
110
      
-
      
(14,980
)
    
(14,870
)
 
The following table shows the amounts reclassified from AOCI into the Consolidated Statements of Income, and the associated financial statement line item, for 2024 and 2023:

 

   
December 31,
  
   
2024
    
2023
  
Affected line item in the consolidated statements of income
            
             
Cost of revenues
  
$
324
    
$
2,287
  
Research and development
    
20
      
102
  
Marketing and selling
    
81
      
414
  
General and administrative
    
75
      
503
  
                 
Total loss
  
$
500
    
$
3,306
  
Accounting for stock-based compensation
  w.
Accounting for stock-based compensation:
 
Equity share based payment:
 
The Company accounts for stock-based compensation in accordance with ASC 718, "Compensation-Stock Compensation" ("ASC 718"). ASC 718 requires companies to estimate the fair value of equity-based payment awards on the date of grant using an option-pricing model.
 
The Company accounts for employees and directors’ share-based payment awards classified as equity awards using the grant-date fair value method. The fair value of share-based payment transactions is recognized as an expense over the requisite service period. The Company’s accounting policy is to account for forfeitures as they occur.
 
The exercise price of each option is generally Company's stock price on the date of the grant. Options generally become exercisable over approximately three to four-year period, subject to the continued employment. All options expire after 7 years from the date of grant. In addition, commencing in 2015 the Company granted certain of its employees and officers with restricted stock units ("RSUs"), vesting over approximately a four-year period from the grant date. RSUs fair value is measured at the grant date based on the market value of Company's common stock. RSUs that are cancelled or forfeited become available for future grants.
 
In 2024 and 2023, the Company estimated the fair value of stock options granted using the Black-Scholes option pricing model with the following weighted average assumptions:

 

 
December 31,
 
2024
    
2023
         
Dividend yield
0 - 3%
 
  
0 - 3%
Expected volatility
42-47.0%
    
40-46.0%
Risk-free interest rate
4-4.6%
    
4-4.9%
Expected life (in years)
4-7
    
4-6.9
 
The Company used volatility data in accordance with ASC 718 and based on Company's historical data.
 
The computation of risk free interest rate is based on the rate available on the date of grant of a zero-coupon U.S. government bond with a remaining term equal to the expected term of the option.
 
The expected term of options granted is calculated using the simplified method (being the average between the vesting periods and the contractual life of the options). In case of grant to Company's CEO or directors, the expected term equals to the contractual life.
 
For the vast majority of the options granted in 2024 and 2023, the dividend yield is zero, due to adjustment mechanism with respect to the exercise price upon payment of a dividend. For those options granted without adjustment mechanism, the dividend yield applied is 3%.
Redeemable non-controlling interest
  x.
Redeemable non-controlling interest:
 
Following the acquisition of Lioli during 2020, the Company is party to a put and call arrangement with respect to the remaining 45% non-controlling interest in Lioli. Due to the existing put and call arrangements, the non-controlling interest is considered to be redeemable and is recorded on the balance sheet as a redeemable non-controlling interest outside of permanent equity.
 
During March 2022, the Company participated in rights offering in Lioli, and purchased additional 9,870,000 shares in amount of approximately $2.5 million. Following this oferring, the Company holds 60.4% of Lioli's shares on a fully diluted basis.
 
During July 2024, the Company partially utilized the call option to purchase minority shares in Lioli, and purchased 10,699,162 shares from certain minority holders in amount of approximately $1.6 million. Following this offering, the Company holds 80.7% of Lioli's shares on a fully diluted basis.
 
The redeemable non-controlling interest is recognized at the higher of: i) the accumulated earnings associated with the non-controlling interest, or ii) the redemption value as of the balance sheet date (see also Note 1b).
 
The following table provides a reconciliation of the redeemable non-controlling interest:

 

   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
                   
Beginning of the year
  
$
7,789
    
$
7,903
    
$
7,869
  
                         
Net income (loss) attributable to non-controlling interest
    
(144
)
    
(584
)
    
688
  
Adjustment to Put option value (*)
    
(3,782
)
    
532
      
198
  
Payment for Put option (*)
    
(1,556
)
    
-
      
-
  
Foreign currency translation adjustments
    
(107
)
    
(62
)
    
(852
)
                         
Redeemable non-controlling interest - end of the year
  
$
2,200
    
$
7,789
    
$
7,903
  
 
  (*)
See also Note 1b.
Contingencies
  y.
Contingencies:
 
The Company is involved in various product liability, commercial, government investigations, environmental claims and other legal proceedings that arise from time to time in the course of business. The Company records accruals for these types of contingencies to the extent that the Company concludes their occurrence is probable and that the related liabilities are estimable. When accruing these costs, the Company will recognize an accrual in the amount within a range of loss that is the best estimate within the range. When no amount within the range is a better estimate than any other amount, the Company accrues for the minimum amount within the range. The Company records anticipated recoveries under existing insurance contracts that are probable of occurring at the amount that is expected to be collected. Legal costs are expensed as incurred. For unasserted claims or assessments, the Company followed the accounting guidance in ASC 450 Contingencies, in which the Company must first determine that the probability that an assertion will be made is likely, then, a determination as to the likelihood of an unfavorable outcome and the ability to reasonably estimate the potential loss is made.
Business combination
  z.
Business combination:
 
The Company accounts for business combinations by applying the provisions of ASC 805, Business Combination, and allocates the fair value of purchase consideration to the tangible assets acquired, liabilities assumed, and intangible assets acquired based on their estimated fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. When determining the fair values of assets acquired and liabilities assumed, management makes significant estimates and assumptions, especially with respect to intangible assets.
 
Significant estimates in valuing certain intangible assets include, but are not limited to future expected cash flows from acquired customer relationship and acquired trademarks from a market participant perspective, useful lives and discount rates. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates.  During the measurement period, which does not exceed one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed, with the corresponding adjustment to goodwill. Upon the finalization of the measurement period, any subsequent adjustments are recorded to earnings.
 
Acquisition-related costs are recognized separately from the acquisition and are expensed as incurred. See also Note 1.
Exit or disposal activities
  aa.
Exit or disposal activities:
 
The company accounts for exit and disposal cost obligations, including restructuring activities, under ASC 420-10 "Exit or Disposal Cost Obligations", which requires that the company record liabilities for such activities only when such liability has been incurred. During 2024 the company closed it's facility in Richmond hill, Georgia, USA, and sold part of it's lands and production equipment, and during 2023 the company closed it's facility in Sdot-Yam, Israel.
 
Total restructuring expenses for the year ended December 31, 2024 and 2023 related to the manufacturing facilities closures and partial sales of assets in those locations, totaled approximately to a credit of $6.0 million and expenses of $2.9 million, included within the operating expenses on the consolidated statements of comprehensive income (loss).
 
In 2024, out of the credit of $6.0 million, capital gain related to the partial sale of undeveloped land  facility was approximately $7.4 million, offset by decommissioning and restoration costs of approximately $1.4 million.
 
In 2023, out of the $2.9 million expenses, employee termination costs were approximately $1.0 million and decommissioning and restoration costs were approximately $1.9 million.
 
As of December 31, 2024 approximately $1.5 million is recorded under accrued expenses and other liabilities.
 
  ab.
Impact of recently issued accounting standards:
 
Recently issued accounting standards and adopted by the Company:
 
In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (ASU 2021-08), which clarifies that an acquirer of a business should recognize and measure contract assets and contract liabilities in a business combination in accordance with Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers (Topic 606). This guidance is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. Early adoption is permitted. The adoption of the standards did not have a material impact on the Company’s consolidated financial statements.
 
In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, requiring public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. The Company adopted ASU 2023-07 during the year ended December 31, 2024. The adoption of the standards did not have a material impact on the Company’s consolidated financial statements. See Note 16 for further detail.
 
Recently issued accounting standards and not yet adopted by the Company:
 
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-09.
v3.25.0.1
SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Fair Value Amounts and Gains and Losses Recorded in Relation to the Derivative Instruments
             
Balance sheet
  
Fair value of
derivative instruments
  
                        
Year ended
December 31,
  
                 
2024
    
2023
  
Derivative assets:
                          
                           
Derivatives designated as hedging instruments:
                              
Foreign exchange option and forward contracts
                
Other accounts receivable and prepaid expenses
    
110
      
539
  
                                   
                                   
Total
                
 
    
110
      
539
  
 
   
Gain (loss) recognized in other comprehensive income, net
  
Gain (loss) recognized in
statements of income
  
   
Year ended
December 31,
  
Statements of income
  
Year ended
December 31,
  
   
2024
    
2023
  
Item
  
2024
    
2023
  
Derivatives designated as hedging instruments:
                          
                           
Foreign exchange forward contract
    
(429
)
    
951
  
Cost of revenues and Operating expenses
    
500
      
(3,306
)
 
                
 
                
Derivatives not designated as hedging instruments:
                
 
                
Foreign exchange forward and options contracts
    
-
      
-
  
Financial expenses, net
    
6
      
1,313
  
Styrene forward contracts
    
-
      
-
  
Financial expenses, net
    
-
      
113
  
 
                
 
                
Total
    
(429
)
    
951
  
 
    
506
      
(1,880
)
Schedule of Change in Provision for Inventory
   
December 31,
  
   
2024
    
2023
  
             
Inventory provision, beginning of year
  
$
27,438
    
$
21,738
  
Increase (decrease) in inventory provision
    
(4,208
)
    
9,848
  
Write off
    
(3,290
)
    
(4,148
)
                 
Inventory provision, end of year
  
$
19,940
    
$
27,438
  
Schedule of Property, Plant and Equipment Depreciation Rates
 
%
   
Machinery and manufacturing equipment
4 - 33 (mainly 10)
Office equipment and furniture
7 - 33 (mainly 7)
Motor vehicles
10 - 30 (mainly 20)
Buildings
4 - 5
Leasehold improvements
Over the shorter of the term of the lease or the life of the asset
Schedule of Changes in Warranty Accrual
   
2024
    
2023
  
             
January 1,
  
$
2,358
    
$
2,501
  
                 
Charged to costs and expenses relating to new sales
    
368
      
1,289
  
Costs of product warranty claims
    
(844
)
    
(1,792
)
Foreign currency translation adjustments
    
(156
)
    
360
  
                 
December 31,
    
1,726
      
2,358
  
Schedule of Change in Provision for Doubtful Debts
   
2024
    
2023
  
             
January 1,
  
$
12,214
    
$
9,756
  
                 
Charges to expenses
    
(1,944
)
    
3,654
  
Write offs
    
(1,095
)
    
(1,158
)
Foreign currency translation adjustments
    
(71
)
    
(38
)
                 
December 31,
  
$
9,104
    
$
12,214
  
Schedule of Assets and Liabilities Measured at Fair Value
    Fair Value  
Fair value measurements
as of December 31,
  
Description
  
Hierarchy
  
2024
    
2023
  
 
                
Measured at fair value on a recurring basis:
                
 
                
Assets:
                
Derivative assets
  
Level 2
  
$
110
    
$
539
  
                     
Redeemable Non-Controlling Interest (*):
  
Level 3
  
$
2,200
    
$
7,789
  
 
(*) During 2024 the Company acquired additional redeemable non-controlling interest in Lioli (see also note 1). As of December 31, 2024 the Company estimated the value of the redeemable non-controlling interest based on the settlement price which represents its redeemable value.The Company estimated the fair value of redeemable non-controlling interest using Monte Carlo simulation in previous years. The valuation requires management to make certain assumptions about the model inputs, including forecast cash flows, the discount rate and the volatility. The fair value measurement is based on inputs not observable in the market and thus represent Level 3 measurements as defined in ASC 820.
Schedule of Accumulated Other Comprehensive Income, Net
   
December 31,
  
   
2024
    
2023
  
             
Accumulated income on derivative instruments
    
110
      
539
  
Accumulated foreign currency translation differences and other
    
(14,980
)
    
(8,941
)
                 
Total accumulated other comprehensive loss, net
  
$
(14,870
)
  
$
(8,402
)
Schedule of Changes in Accumulated Balances of Other Comprehensive Income
   
Unrealized gains (losses) on derivative instruments
    
Unrealized gains (losses) on marketable securities
    
Accumulated foreign currency translation differences and other
    
Total
  
                         
Balance at January 1, 2023
    
(412
)
    
(125
)
    
(9,041
)
    
(9,578
)
                                 
Other comprehensive income (loss) before reclassifications
    
(2,355
)
    
125
      
100
      
(2,130
)
Amounts reclassified from AOCI
    
3,306
      
-
      
-
      
3,306
  
                                 
Net current period OCI
    
951
      
125
      
100
      
1,176
  
                                 
Balance at December 31, 2023
    
539
      
-
      
(8,941
)
    
(8,402
)
                                 
Other comprehensive income (loss) before reclassifications
    
71
      
-
      
(6,039
)
    
(5,968
)
Amounts reclassified from AOCI
    
(500
)
    
-
      
-
      
(500
)
                                 
Net current period OCI
    
(429
)
    
-
      
(6,039
)
    
(6,468
)
                                 
Balance at December 31, 2024
    
110
      
-
      
(14,980
)
    
(14,870
)
Schedule of Losses on Cash Flow Hedge Reclassified Out of Accumulated Other Comprehensive Income
   
December 31,
  
   
2024
    
2023
  
Affected line item in the consolidated statements of income
            
             
Cost of revenues
  
$
324
    
$
2,287
  
Research and development
    
20
      
102
  
Marketing and selling
    
81
      
414
  
General and administrative
    
75
      
503
  
                 
Total loss
  
$
500
    
$
3,306
  
Schedule of Reconciliation of Redeemable Non-controlling Interest
   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
                   
Beginning of the year
  
$
7,789
    
$
7,903
    
$
7,869
  
                         
Net income (loss) attributable to non-controlling interest
    
(144
)
    
(584
)
    
688
  
Adjustment to Put option value (*)
    
(3,782
)
    
532
      
198
  
Payment for Put option (*)
    
(1,556
)
    
-
      
-
  
Foreign currency translation adjustments
    
(107
)
    
(62
)
    
(852
)
                         
Redeemable non-controlling interest - end of the year
  
$
2,200
    
$
7,789
    
$
7,903
  
 
  (*)
See also Note 1b.
Employee Stock Option [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Losses on Cash Flow Hedge Reclassified Out of Accumulated Other Comprehensive Income
 
December 31,
 
2024
    
2023
         
Dividend yield
0 - 3%
 
  
0 - 3%
Expected volatility
42-47.0%
    
40-46.0%
Risk-free interest rate
4-4.6%
    
4-4.9%
Expected life (in years)
4-7
    
4-6.9
v3.25.0.1
MARKETABLE SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-sale Marketable Securities
   
Amortized
cost
    
Gross unrealized
gains
    
Gross unrealized
losses
    
Accrued Interest
    
Fair
value
  
 
                              
Available-for-sale – matures within one year:
                              
Corporate bonds
  
$
7,164
    
$
-
    
$
126
    
$
39
    
$
7,077
  
Total
  
$
7,164
    
$
-
    
$
126
    
$
39
    
$
7,077
  
v3.25.0.1
OTHER ACCOUNTS RECEIVABLE AND PREPAID EXPENSES (Tables)
 12 Months Ended
Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of Other Accounts Receivable and Prepaid Expenses
   
December 31,
  
   
2024
    
2023
  
             
Prepaid expenses
  
$
6,505
    
$
5,388
  
Government authorities
    
2,841
      
4,410
  
Advances to suppliers
    
2,703
      
3,102
  
Derivatives
    
110
      
539
  
Insurance receivables (*)
    
32,178
      
8,361
  
Other receivables
    
5,168
      
3,689
  
                 
   
$
49,505
    
$
25,489
  
 
(*) Related to bodily injury claims, see also note 11.
v3.25.0.1
INVENTORIES (Tables)
 12 Months Ended
Dec. 31, 2024
Inventory Disclosure [Abstract]  
Schedule of Inventories
   
December 31,
  
   
2024
    
2023
  
             
Raw materials
  
$
7,090
    
$
11,884
  
Work-in-progress
    
1,864
      
2,390
  
Finished goods
    
103,655
      
122,172
  
                 
   
$
112,609
    
$
136,446
  
v3.25.0.1
PROPERTY, PLANT AND EQUIPMENT, NET (Tables)
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant and Equipment, Net
   
December 31,
  
   
2024
    
2023
  
Cost:
            
             
Machinery and manufacturing equipment, net (1)
  
$
163,517
    
$
339,657
  
Office equipment and furniture
    
27,783
      
40,012
  
Motor vehicles
    
3,517
      
4,933
  
Buildings and leasehold improvements
    
51,015
      
131,269
  
Prepaid expenses related to operating lease (2)
    
939
      
939
  
                 
     
246,771
      
516,810
  
Accumulated depreciation and impairment:
                
                 
Machinery and manufacturing equipment, net
    
120,851
      
249,499
  
Office equipment and furniture
    
18,604
      
27,866
  
Motor vehicles
    
2,798
      
3,908
  
Buildings and leasehold improvements
    
28,611
      
56,984
  
Prepaid expenses related to operating lease
    
183
      
173
  
Impairment of fixed assets (3)
    
-
      
54,900
  
                 
     
171,047
      
393,330
  
                 
Depreciated cost
  
$
75,724
    
$
123,480
  
 
  (1)
Presented net of investment grants received in the total amount of $7,463.
 
  (2)
Until 2012, the Company leased land from the Israel Lands Administration ("ILA") for its Bar-Lev manufacturing facility. The lease term started on February 6, 2005. The lease is for an initial non-cancellable term of 49 years, with a renewal option of an additional 49 years.
 
  (3)
Non cash pre-tax impairment charges recognized in 2024, 2023, and 2022 were $0,  $28,471 and $26,429, respectively (see also Note 2k).
v3.25.0.1
GOODWILL AND INTANGIBLES (Tables)
 12 Months Ended
Dec. 31, 2024
GOODWILL [Abstract]  
Schedule of Changes in Carrying Amount of Goodwill
 
Balance as of January 1, 2022
  
$
45,800
  
Acquired through business combination (*)
    
792
  
Goodwill Impairment (**)
    
(44,829
)
Foreign currency translation adjustments
    
(1,763
)
         
Balance as of December 31, 2022
  
$
-
  
 
(*) Resulting from Magrab acquisition, see also Notes 1(d).
(**)The Company performs its annual testing of goodwill in the fourth quarter of each year in accordance with ASC 350 (see also Note 2l). During the fourth quarter of 2022, the Company conducted an impairment test of its reporting unit. Due to factors such as a decrease in the Company's market value, lower-than-expected projected future cash flows, and higher interest rates, a pre-tax, non-cash goodwill impairment charge of $44,829 was recorded.
Schedule of Intangible Assets
   
December 31,
  
   
2024
    
2023
  
Original amounts:
            
    Customer relationships
  
$
13,983
    
$
13,983
  
Accumulated amortization:
                
    Customer relationships
    
(10,302
)
    
(7,687
)
Impairment charges (3)
    
(3,236
)
    
-
  
Foreign currency translation adjustment
    
(181
)
    
(39
)
                 
Total intangibles assets
  
$
263
    
$
6,257
  
 
  (1)
Amortization expense amounted to $2,617 and $2,620 for the years ended December 31, 2024 and 2023, respectively.
  (2)
Estimated amortization expenses for 2025 are $263.
  (3)
See also Note 2k.
v3.25.0.1
SHORT-TERM BANK CREDIT AND CURRENT MATURITIES OF LONG-TERM LOAN (Tables)
 12 Months Ended
Dec. 31, 2024
Short-term Debt [Abstract]  
Schedule of Short-Term Bank Credit
      
Weighted average interest
              
 
 Currency  
December 31,
    
December 31,
  
     
2024
    
2023
    
2024
    
2023
  
     
%
              
                           
Short-term bank credit (*)
INR
    
9.3
      
10.1
    
$
2,534
    
$
2,801
  
Current maturities of Long- term bank loan and other (*)
INR
    
9.6
      
8.9
    
$
2,021
    
$
2,317
  
Total
                    
$
4,555
    
$
5,118
  
 
   
(*) Credit line and bank loan in Lioli - During 2022, Lioli engaged with a new bank and signed a new loan agreement. The loan agreement with the bank in Lioli contains customary covenants. Lioli is in compliance with the requirement of the financial covenants under the agreement of own capital contribution. The Loan Agreement also contains certain customary negative covenants that require Lioli to refrain from certain actions unless bank’s consent obtained. Lioli debt is secured by a SBLC (Stand By Letter of Credit) from Caesarstone and floating charge on all of Lioli’s assets. (see also Note 15).
v3.25.0.1
ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2024
Payables and Accruals [Abstract]  
Schedule of Accrued Expenses and Other Liabilities
   
December 31,
  
   
2024
    
2023
  
             
Employees and payroll accruals
  
$
11,690
    
$
13,410
  
Accrued expenses
    
7,990
      
8,833
  
Advances from customers
    
2,435
      
2,413
  
Taxes payable
    
3,585
      
5,617
  
Warranty provision
    
824
      
1,154
  
Sales return provision
    
432
      
875
  
Operating lease liability short-term
    
24,339
      
23,932
  
Contingent consideration liability and other
    
88
      
660
  
                 
   
$
51,383
    
$
56,894
  
v3.25.0.1
LEASES (Tables)
 12 Months Ended
Dec. 31, 2024
Lessee Disclosure [Abstract]  
Schedule of Lease-Related Assets and Liabilities
  a.
The following table summarizes the Company’s lease-related assets and liabilities recorded on the consolidated balance sheet:
 
 
 Classification  
December 31, 2024
    
December 31, 2023
  
Assets:
              
               
Operating lease assets (*)
Operating lease right-of-use assets
  
$
115,392
    
$
120,156
  
                   
Total lease assets
    
$
115,392
    
$
120,156
  
                   
Liabilities:
                  
                   
Current lease liabilities
Accrued expenses and other liabilities
    
24,339
      
23,932
  
Long-term lease liabilities
Long-term operating lease liabilities
    
107,313
      
114,146
  
                   
Total lease liabilities
    
$
131,652
    
$
138,078
  
 
(*) Following the closure of Sdot Yam plant, the Company evaluated it's right of use asset resulted from non-cancelable lease agreement effective through 2032. Based on future estimated sublease the Company recorded an impairment of $16,575 during 2023. No additional impairment was identified during 2024.
 
Lease term and discount rate:
December 31, 2024
  
December 31, 2023
       
Weighted-average remaining lease term — operating leases
6.5 years
  
7.3 years
Weighted-average discount rate — operating leases
3.1%
  
2.7%
Schedule of Components of Operating Lease Cost
   
December 31, 2024
    
December 31, 2023
  
Operating lease cost:
            
             
Operating lease expense
  
$
28,454
    
$
28,771
  
Variable lease expense (*)
    
7,306
      
1,113
  
Sublease income
    
(1,624
)
    
(477
)
                 
Total operating lease cost
  
$
34,136
    
$
29,407
  
 
(*) Includes short-term leases, index and other variable lease costs.
Schedule of Operating Lease Liabilities
   
December 31,
  
       
2025
    
26,726
  
2026
    
24,636
  
2027
    
20,652
  
2028
    
17,534
  
2029
    
16,134
  
2030 and thereafter
    
38,958
  
         
Total future lease payments (1,2)
    
144,640
  
Less imputed interest
    
(12,988
)
         
Total
  
$
131,652
  
 
  (1)
Total lease payments have not been reduced by sublease rental expected payments of approximately $22 million due in the future under non-cancelable subleases.
  (2)
As of December 31, 2024, we have additional operating lease payments, that have not yet commenced of approximately $2.7 million. These operating leases will commence during 2025 with lease terms of 7 years.
Schedule of Supplemental Cash Flow Information
   
December 31, 2024
    
December 31, 2023
  
Cash paid for amounts included in measurement of lease liabilities:
            
             
Operating cash flows for operating leases
  
$
27,468
    
$
27,471
  
v3.25.0.1
COMMITMENTS AND CONTINGENT LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Bodily Injury Claims
   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
                   
Outstanding claims, January 1,
    
224
      
221
      
203
  
                         
New claims
    
101
      
63
      
87
  
Settled and dismissed claims
    
(77
)
    
(60
)
    
(69
)
                         
Outstanding claims, December 31
    
248
      
224
      
221
  
 
v3.25.0.1
TAXES ON INCOME (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Deferred Income Taxes
   
December 31,
  
   
2024
    
2023
  
Deferred tax assets:
            
             
Goodwill and Intangible assets
  
$
172
    
$
227
  
Operating lease liabilities and others
    
24,744
      
28,558
  
Temporary differences related to inventory
    
5,475
      
9,068
  
Property and equipment
    
2,685
      
3,315
  
Net operating loss carry-forward, deductions and credits
    
13,301
      
10,451
  
Less-valuation allowance
    
(28,497
)
    
(29,198
)
                 
Total deferred tax assets
    
17,880
      
22,421
  
                 
Deferred tax liabilities:
                
                 
Property and equipment
    
(2,591
)
    
(2,844
)
Intangible Assets
    
(595
)
    
(1,533
)
Operating lease right-of-use assets and others lease
    
(14,223
)
    
(17,989
)
                 
Total deferred tax liabilities
    
(17,409
)
    
(22,366
)
                 
Deferred tax assets, net
  
$
471
    
$
55
  
Schedule of Reconciliation of Effective Tax Rate to Statutory Tax Rate
   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
                   
Loss before taxes on income
  
$
(41,895
)
  
$
(86,959
)
  
$
(55,608
)
                         
Statutory tax rate in Israel
    
23
%
    
23
%
    
23
%
                         
Tax benefit at statutory rate
  
$
(9,636
)
  
$
(20,001
)
  
$
(12,790
)
                         
Increase (decrease) in tax expenses resulting from:
                        
                         
Tax benefit arising from reduced rate as an "Preferred Enterprise"
    
9,128
      
9,996
      
2,622
  
Non-deductible expenses, net
    
822
      
1,818
      
10,745
  
 Increase (decrease) in taxes from prior years, also related to settlement with tax authorities
    
882
      
419
      
(735
)
Tax adjustment in respect of foreign subsidiaries' different tax rates
    
997
      
(1,120
)
    
(239
)
Provision for withholding tax assets
    
-
      
2,828
      
-
  
Uncertain tax position
    
(353
)
    
-
      
-
  
Changes in valuation allowance
    
(701
)
    
27,402
      
1,079
  
Others
    
(58
)
    
(61
)
    
76
  
                         
Income tax expense
  
$
1,081
    
$
21,281
    
$
758
  
                         
Effective tax rate
    
(2.6
%)
    
(24.5
%)
    
(1.4
%)
                         
Per share amounts (basic and diluted) of the tax benefit resulting from a "Preferred Enterprise"
  
$
0.26
    
$
0.29
    
$
(0.04
)
Schedule of Income (Loss) Before Taxes on Income
   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
                   
Domestic
  
$
(45,582
)
  
$
(38,831
)
  
$
(18,671
)
Foreign
    
3,687
      
(48,128
)
    
(36,937
)
                         
   
$
(41,895
)
  
$
(86,959
)
  
$
(55,608
)
Schedule of Tax Expenses on Income
   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
                   
Current taxes
  
$
1,498
    
$
9,373
    
$
6,832
  
Deferred taxes
    
(417
)
    
11,908
      
(6,074
)
                         
   
$
1,081
    
$
21,281
    
$
758
  
                         
Domestic
  
$
1,258
    
$
14,084
    
$
436
  
Foreign
    
(177
)
    
7,197
      
322
  
                         
   
$
1,081
    
$
21,281
    
$
758
  
Schedule of Reconciliation of Beginning and Ending Balances of Unrecognized Tax Benefits
Gross tax liabilities at January 1, 2022
  
$
3,773
  
         
Increase in tax positions for current year
    
(882
)
         
Gross tax liabilities at December 31, 2022
    
2,891
  
         
Increase in tax positions for current year
    
-
  
         
Gross tax liabilities at December 31, 2023
    
2,891
  
         
Increase in tax positions for current year
    
700
  
Reductions in respect of settlements with authorities and statute of limitation
    
(1,918
)
         
Gross tax liabilities at December 31, 2024
  
$
1,673
  
v3.25.0.1
SHAREHOLDERS' EQUITY (Tables)
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Schedule of Share Capital
   
Authorized
  
Outstanding
   
December 31,
  
December 31,
   
2024
  
2023
  
2024
  
2023
   
Number of shares
                 
Ordinary shares of NIS 0.04 par value each
  
200,000,000
  
200,000,000
  
34,549,050
  
34,532,452
Schedule of Stock Option Activity
   
Number
of options
    
Weighted
average
exercise
price
    
Aggregate intrinsic value
  
                   
Outstanding - beginning of the year
    
2,279,400
      
8.63
      
-
  
Granted
    
860,730
      
6.68
      
0.1
  
Forfeited
    
(671,150
)
    
14.49
      
-
  
                         
Outstanding - end of the year
    
2,468,980
      
5.57
      
-
  
                         
Options exercisable at the end of the year
    
593,550
      
8.01
      
-
  
                         
Vested and expected to vest
    
593,550
      
8.01
      
-
  
Schedule of Activities Relating to Company's RSUs Granted to Employees
   
Number
of RSUs
    
Weighted
average
fair value
    
Aggregate intrinsic value
  
                   
Outstanding - end of the year
    
60,711
      
8.51
      
227
  
Granted
    
48,500
      
5.09
          
Exercised
    
(18,757
)
    
7.87
          
Forfeited
    
(17,764
)
    
4.00
          
                         
Outstanding - end of the year
    
72,690
      
6.13
      
309
  
                         
RSUs exercisable at the end of the year
    
-
      
-
      
-
  
                         
Vested and expected to vest
    
72,690
      
6.13
      
309
  
Schedule of Awards Outstanding
     
Awards outstanding
    
Awards exercisable
  
Exercise price
    
Number
of
options
    
Weighted
average
remaining
contractual
life (years)
    
Weighted
average
exercise
price
per share
    
Number
of
options
    
Weighted
average
remaining
contractual
life (years)
    
Weighted average exercise price
  
                                       
$
0.01 (RSUs)
      
72,690
      
5.85
    
$
0.01
      
-
      
-
    
$
-
  
$
4.0-9.5
      
2,196,080
      
6.10
    
$
4.7
      
358,125
      
5.74
    
$
5.03
  
$
10.2-19.7
      
272,900
      
3.33
    
$
12.57
      
235,425
      
3.17
    
$
12.53
  
                                                     
         
2,541,670
                      
641,325
                  
Schedule of Compensation Expenses
   
December 31,
  
   
2024
    
2023
  
             
Cost of revenues
  
$
90
    
$
95
  
Research and development expenses
    
86
      
89
  
Marketing and selling expenses
    
153
      
298
  
General and administrative expenses
    
1,715
      
543
  
                 
Total
  
$
2,044
    
$
1,025
  
v3.25.0.1
TRANSACTIONS WITH RELATED PARTIES (Tables)
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
Schedule of Maturity of Debt Obligations
   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
                   
Cost of revenues
  
$
7,893
    
$
8,232
    
$
8,870
  
                         
Research and development
  
$
520
    
$
486
    
$
574
  
                         
Selling and marketing
  
$
927
    
$
621
    
$
730
  
                         
General and administrative
  
$
811
    
$
848
    
$
951
  
                         
Finance expenses, net
  
$
-
    
$
-
    
$
(392
)
Schedule of Transactions and Balances with Related Party and Other Loan
   
December 31,
  
   
2024
    
2023
  
             
Related party balances (1)
  
$
206
    
$
257
  
                 
Other loans (2)
  
$
444
    
$
479
  

 

  1.
Related to the above mentioned agreements with related party.
 
  2.
Related to the shareholders loan in Lioli.
v3.25.0.1
SEGMENT, MAJOR CUSTOMER AND GEOGRAPHIC INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Revenues
   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
                   
USA
  
$
219,559
    
$
271,647
    
$
342,293
  
Canada
     61,749      
75,462
      
93,377
  
Latin America
    
1,392
      
3,285
      
4,481
  
Australia
    
75,388
      
106,223
      
116,284
  
Asia
    
20,577
      
25,959
      
34,607
  
EMEA
    
47,121
      
59,908
      
63,320
  
Israel
    
17,435
      
22,747
      
36,444
  
                         
   
$
443,221
    
$
565,231
    
$
690,806
  
Schedule of Long-Lived Assets
   
December 31,
  
   
2024
    
2023
  
             
USA
  
$
87,861
    
$
100,886
  
Canada
    
10,506
      
4,685
  
Australia
    
5,618
      
7,885
  
Asia
    
19,435
      
22,630
  
EMEA
    
11,315
      
13,794
  
Israel
    
89,791
      
100,013
  
                 
   
$
224,526
    
$
249,893
  
v3.25.0.1
SELECTED SUPPLEMENTARY STATEMENTS OF INCOME DATA (Tables)
 12 Months Ended
Dec. 31, 2024
Supplemental Income Statement Elements [Abstract]  
Schedule of Financial and Other Income (Expenses), Net
   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
Finance expenses:
                  
                   
Interest in respect of credit cards and bank fees
  
$
3,846
    
$
4,957
    
$
5,380
  
Interest in respect of loans
    
300
      
377
      
346
  
Amortization/accretion of premium/discount on marketable securities
    
-
      
-
      
237
  
Realized gain/loss from marketable securities, net
    
-
      
63
      
-
  
Changes in derivatives fair value
    
430
      
-
      
1,509
  
Foreign exchange transactions losses
    
1,781
      
154
      
3,818
  
                         
     
6,357
      
5,551
      
11,290
  
Finance income:
                        
                         
Interest in respect of cash and cash equivalent and short-term bank deposits
    
4,799
      
1,473
      
20
  
Changes in derivatives fair value
    
-
      
680
      
-
  
Interest income from marketable securities
    
-
      
107
      
287
  
Foreign exchange transactions gains
    
1,549
      
4,360
      
14,062
  
                         
     
6,348
      
6,620
      
14,369
  
                         
Finance expenses (income), net
  
$
9
    
$
(1,069
)
  
$
(3,079
)
Schedule of Computation of Basic and Diluted Net Earnings Per Share
Numerator:
 
   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
                   
Net loss attributable to controlling interest, as reported
  
$
(42,832
)
  
$
(107,656
)
  
$
(57,054
)
Adjustment to redemption value of non-controlling interest
    
3,782
      
(532
)
    
(198
)
                         
Numerator for basic and diluted net loss per share
  
$
(39,050
)
  
$
(108,188
)
  
$
(57,252
)
 
Denominator (in thousands):
 
   
Year ended December 31,
  
   
2024
    
2023
    
2022
  
                   
Denominator for basic and diluted loss per share
    
34,539
      
34,519
      
34,488
  
 
Earnings per share:
 
Basic and diluted loss per share
  
$
(1.13
)
  
$
(3.13
)
  
$
(1.66
)
v3.25.0.1
GENERAL (Acquisition of Lioli Ceramica Pvt Ltd) (Narrative) (Details)
$ in Thousands
 1 Months Ended
Oct. 05, 2020
USD ($)
Jul. 31, 2024
USD ($)
shares
Mar. 31, 2022
USD ($)
shares
Dec. 31, 2024
USD ($)
Country
Jun. 30, 2024
Dec. 31, 2023
USD ($)
Dec. 31, 2021
USD ($)
Business Acquisition [Line Items]              
Number of countries in which entity sells products | Country       60      
Lioli Ceramica Pvt Ltd [Member]              
Business Acquisition [Line Items]              
Business Acquisition, Percentage of Voting Interests Acquired 55.00%            
Total net consideration $ 13,574            
Deferred consideration additional amount 10,000           $ 1,780
Fair value of Deferred consideration $ 1,492            
Fair value of non-controlling interests       $ 2,200   $ 7,789  
Purchased additional shares | shares   10,699,162 9,870,000        
Purchased additional share amount   $ 1,600 $ 2,500        
Lioli Ceramica Pvt Ltd [Member] | Lioli [Member]              
Business Acquisition [Line Items]              
Ownership interest, percentage   80.70% 60.40%   80.70%    
v3.25.0.1
GENERAL (Acquisition of Omicron Supplies, LLC) (Narrative) (Details) - Omicron Acquisition [Member]
$ in Thousands
 12 Months Ended
Dec. 31, 2021
USD ($)
Business Acquisition [Line Items]  
Ownership interest, percentage 100.00%
Total net consideration $ 18,830
v3.25.0.1
GENERAL (Acquisition of Magrab Naturtsen AB) (Narrative) (Details)
kr in Thousands, $ in Thousands
 12 Months Ended
Jul. 06, 2022
USD ($)
Dec. 31, 2024
SEK (kr)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
SEK (kr)
Dec. 31, 2023
USD ($)
Jul. 06, 2022
SEK (kr)
Jul. 06, 2022
USD ($)
Individual Claims [Member]              
Business Acquisition [Line Items]              
Company with damages     $ 13,000        
Company recorded a provision     50,000        
Pending claims in Israel Australia and United States [Member]              
Business Acquisition [Line Items]              
Amount of insurance asset with respect to claims     32,200        
Remaining claims in United States [Member] | Minimum [Member]              
Business Acquisition [Line Items]              
Estimated loss for the remaining claims     500        
Remaining claims in United States [Member] | Maximum [Member]              
Business Acquisition [Line Items]              
Estimated loss for the remaining claims     13,000        
Magrab Naturtsen Ab [Member]              
Business Acquisition [Line Items]              
Ownership interest, percentage           100.00% 100.00%
Total net consideration $ 3,109 kr 5,250 $ 500 kr 7,250 $ 700    
Deferred consideration additional amount           kr 10,500 $ 1,000
Fair value of Deferred consideration $ 875            
Additional contingent consideration arrangement amount           kr 4,000 $ 380
v3.25.0.1
SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) - USD ($)
$ in Thousands
 1 Months Ended 3 Months Ended 12 Months Ended
Jul. 31, 2024
Mar. 31, 2022
Dec. 31, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Jun. 30, 2024
Dec. 31, 2021
Property, Plant and Equipment [Line Items]                
Advertising expenses       $ 14,516 $ 15,726 $ 14,777    
Severance pay expense       1,647 2,102 2,614    
Impairment of Property Plant and Equipment       0 28,471 26,429    
Impairment loss       3,800 27,486      
Impairment of Right of Use Asset       16,575        
Goodwill     $ 0 0 0 0   $ 45,800
Goodwill and Intangible Asset Impairment       $ 1,007 $ 47,939 71,258    
Goodwill Impairment     $ (44,829)     $ (44,829) [1]    
Anti-dilutive stock options excluded from the calculations of Diluted EPS       2,495,479 2,310,543 1,534,500    
Net credit after costs       $ 6,000        
Capital gain partial sale land       7,400        
Total Expenses Including Decommissioning And Termination Costs         $ 2,900      
Employee termination costs         1,000      
Decommissioning and restoration costs       1,400 1,900      
Accrued expenses and other liabilities accrued       1,500        
Richmond Hill Facility [Member]                
Property, Plant and Equipment [Line Items]                
Impairment of Property Plant and Equipment       3,800        
Impairment of Right of Use Asset       3,236        
US And Sdot Yam Manufacturing Facility [Member]                
Property, Plant and Equipment [Line Items]                
Impairment of Property Plant and Equipment         28,472      
Impairment of Right of Use Asset         16,575      
Lioli Ceramica Pvt Ltd [Member]                
Property, Plant and Equipment [Line Items]                
Purchased additional shares 10,699,162 9,870,000            
Purchased additional share amount $ 1,600 $ 2,500            
Lioli Ceramica Pvt Ltd [Member] | Lioli [Member]                
Property, Plant and Equipment [Line Items]                
Ownership interest, percentage 80.70% 60.40%         80.70%  
Sdot Yam [Member]                
Property, Plant and Equipment [Line Items]                
Impairment loss       $ 3,236 986      
Impairment of Right of Use Asset         $ 16,575      
[1] The Company performs its annual testing of goodwill in the fourth quarter of each year in accordance with ASC 350 (see also Note 2l). During the fourth quarter of 2022, the Company conducted an impairment test of its reporting unit. Due to factors such as a decrease in the Company's market value, lower-than-expected projected future cash flows, and higher interest rates, a pre-tax, non-cash goodwill impairment charge of $44,829 was recorded.
v3.25.0.1
SIGNIFICANT ACCOUNTING POLICIES (Derivatives) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Derivatives, Fair Value [Line Items]    
Notional amount $ 2,525 $ 21,162
Unrealized loss recorded in accumulated other comprehensive income (loss) 110 539
Derivative Assets 110 539
Gain recognized in other comprehensive income, net (429) 951
Gain (loss) recognized in statements of income 506 1,880
Foreign Exchange Forward Contracts [Member] | Designated As Hedging [Member]    
Derivatives, Fair Value [Line Items]    
Gain recognized in other comprehensive income, net (429) 951
Foreign Exchange Forward Contracts [Member] | Designated As Hedging [Member] | Cost of revenues and Operating expenses [Member]    
Derivatives, Fair Value [Line Items]    
Gain (loss) recognized in statements of income 500 3,306
Foreign exchange option and forward contracts [Member] | Designated As Hedging [Member] | Other Accounts Receivable and Prepaid Expenses [Member]    
Derivatives, Fair Value [Line Items]    
Derivative Assets 110 539
Foreign exchange option and forward contracts [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Gain recognized in other comprehensive income, net 0 0
Foreign exchange option and forward contracts [Member] | Not Designated as Hedging Instrument [Member] | Financial expenses, net [Member]    
Derivatives, Fair Value [Line Items]    
Gain (loss) recognized in statements of income 6 (1,313)
Styrene forward contract [Member] | Not Designated as Hedging Instrument [Member]    
Derivatives, Fair Value [Line Items]    
Gain recognized in other comprehensive income, net 0 0
Styrene forward contract [Member] | Not Designated as Hedging Instrument [Member] | Financial expenses, net [Member]    
Derivatives, Fair Value [Line Items]    
Gain (loss) recognized in statements of income $ 0 $ (113)
v3.25.0.1
SIGNIFICANT ACCOUNTING POLICIES (Inventories) (Details) - Inventory Valuation Reserve [Member] - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]    
Inventory provision, beginning of year $ 27,438 $ 21,738
Increase (decrease) in inventory provision (4,208) 9,848
Write off (3,290) (4,148)
Inventory provision, end of year $ 19,940 $ 27,438
v3.25.0.1
SIGNIFICANT ACCOUNTING POLICIES (Property, plant and equipment, net) (Details)
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Line Items]  
Rate of depreciation description Over the shorter of the term of the lease or the life of the asset
Machinery and Manufacturing Equipment [Member]  
Property, Plant and Equipment [Line Items]  
Rate of depreciation (in percent) 10.00%
Machinery and Manufacturing Equipment [Member] | Minimum [Member]  
Property, Plant and Equipment [Line Items]  
Rate of depreciation (in percent) 4.00%
Machinery and Manufacturing Equipment [Member] | Maximum [Member]  
Property, Plant and Equipment [Line Items]  
Rate of depreciation (in percent) 33.00%
Office Equipment and Furniture [Member]  
Property, Plant and Equipment [Line Items]  
Rate of depreciation (in percent) 7.00%
Office Equipment and Furniture [Member] | Minimum [Member]  
Property, Plant and Equipment [Line Items]  
Rate of depreciation (in percent) 7.00%
Office Equipment and Furniture [Member] | Maximum [Member]  
Property, Plant and Equipment [Line Items]  
Rate of depreciation (in percent) 33.00%
Motor Vehicles [Member]  
Property, Plant and Equipment [Line Items]  
Rate of depreciation (in percent) 20.00%
Motor Vehicles [Member] | Minimum [Member]  
Property, Plant and Equipment [Line Items]  
Rate of depreciation (in percent) 10.00%
Motor Vehicles [Member] | Maximum [Member]  
Property, Plant and Equipment [Line Items]  
Rate of depreciation (in percent) 30.00%
Buildings [Member] | Minimum [Member]  
Property, Plant and Equipment [Line Items]  
Rate of depreciation (in percent) 4.00%
Buildings [Member] | Maximum [Member]  
Property, Plant and Equipment [Line Items]  
Rate of depreciation (in percent) 5.00%
v3.25.0.1
SIGNIFICANT ACCOUNTING POLICIES (Warranty) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Accounting Policies [Abstract]    
January 1, $ 2,358 $ 2,501
Charged to costs and expenses relating to new sales 368 1,289
Costs of product warranty claims (844) (1,792)
Foreign currency translation adjustments (156) 360
December 31, $ 1,726 $ 2,358
v3.25.0.1
SIGNIFICANT ACCOUNTING POLICIES (Concentrations of credit risk) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Accounting Policies [Abstract]    
January 1, $ 12,214 $ 9,756
Charges to expenses (1,944) 3,654
Write offs (1,095) (1,158)
Foreign currency translation adjustments (71) (38)
December 31, $ 9,104 $ 12,214
v3.25.0.1
SIGNIFICANT ACCOUNTING POLICIES (Fair value of financial instruments) (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Assets    
Derivative assets $ 110 $ 539
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]    
Assets    
Derivative assets 110 539
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]    
Liabilities    
Redeemable Non-Controlling Interest [1] $ 2,200 $ 7,789
[1] During 2024 the Company acquired additional redeemable non-controlling interest in Lioli (see also note 1). As of December 31, 2024 the Company estimated the value of the redeemable non-controlling interest based on the settlement price which represents its redeemable value.The Company estimated the fair value of redeemable non-controlling interest using Monte Carlo simulation in previous years. The valuation requires management to make certain assumptions about the model inputs, including forecast cash flows, the discount rate and the volatility. The fair value measurement is based on inputs not observable in the market and thus represent Level 3 measurements as defined in ASC 820.
v3.25.0.1
SIGNIFICANT ACCOUNTING POLICIES (Schedule of Accumulated Other Comprehensive Income) (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Equity, Attributable to Parent $ 271,585 $ 315,059 $ 421,046 $ 494,295
Accumulated income on derivative instruments [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Equity, Attributable to Parent 110 (539)    
Accumulated foreign currency translation differences and other [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Equity, Attributable to Parent (14,980) (8,941) (9,041)  
Accumulated other comprehensive loss, net [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Equity, Attributable to Parent [1] $ (14,870) $ (8,402) $ (9,578) $ (704)
[1] Accumulated other comprehensive income (loss), net, comprised of foreign currency translation, hedging transactions and marketable securities, see also notes 2 and 3.
v3.25.0.1
SIGNIFICANT ACCOUNTING POLICIES (Schedule of Changes in Accumulated Balances of Other Comprehensive Income) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Balance $ 315,059 $ 421,046 $ 494,295
Total other comprehensive income (loss), net of tax (6,575) 1,114 (9,726)
Balance 271,585 315,059 421,046
Unrealized gains (losses) on derivative instruments [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Balance 539 (412)  
Other comprehensive income (loss) before reclassifications (71) (2,355)  
Amounts reclassified from AOCI (500) 3,306  
Total other comprehensive income (loss), net of tax (429) 951  
Balance 110 539 (412)
Unrealized gains (losses) on marketable securities [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Balance 0 (125)  
Other comprehensive income (loss) before reclassifications 0 125  
Amounts reclassified from AOCI 0 0  
Total other comprehensive income (loss), net of tax 0 125  
Balance 0 0 (125)
Accumulated foreign currency translation differences and other [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Balance (8,941) (9,041)  
Other comprehensive income (loss) before reclassifications (6,039) 100  
Amounts reclassified from AOCI 0 0  
Total other comprehensive income (loss), net of tax (6,039) 100  
Balance (14,980) (8,941) (9,041)
Total [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Balance [1] (8,402) (9,578) (704)
Other comprehensive income (loss) before reclassifications (5,968) (2,130)  
Amounts reclassified from AOCI 500 3,306  
Total other comprehensive income (loss), net of tax (6,468) 1,176  
Balance [1] $ (14,870) $ (8,402) $ (9,578)
[1] Accumulated other comprehensive income (loss), net, comprised of foreign currency translation, hedging transactions and marketable securities, see also notes 2 and 3.
v3.25.0.1
SIGNIFICANT ACCOUNTING POLICIES (Schedule of Losses Reclassified Out of Accumulated Other Comprehensive Income) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Cost of revenues $ 346,546 $ 473,292 $ 527,561
Research and development 4,950 5,086 4,098
Marketing and selling 86,239 82,222 94,412
General and administrative 39,123 49,490 51,596
Total loss 42,976 108,240 $ 56,366
Reclassification of AOCI [Member] | Accumulated losses on derivative instruments [Member]      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Cost of revenues 324 2,287  
Research and development 20 102  
Marketing and selling 81 414  
General and administrative 75 503  
Total loss $ 500 $ 3,306  
v3.25.0.1
SIGNIFICANT ACCOUNTING POLICIES (Accounting for stock-based compensation) (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Employee Stock Option [Member] | Minimum [Member]    
The fair value of each stock option award is estimated at the date of grant with the following weighted average assumptions:    
Dividend yield 0.00% 0.00%
Expected volatility 42.00% 40.00%
Risk-free interest rate 4.00% 4.00%
Expected life (years) 4 years 4 years
Vesting period 3 years  
Employee Stock Option [Member] | Maximum [Member]    
The fair value of each stock option award is estimated at the date of grant with the following weighted average assumptions:    
Dividend yield 3.00% 3.00%
Expected volatility 47.00% 46.00%
Risk-free interest rate 4.60% 4.90%
Expected life (years) 7 years 6 years 10 months 24 days
Vesting period 4 years  
RSUs [Member]    
The fair value of each stock option award is estimated at the date of grant with the following weighted average assumptions:    
Vesting period 4 years  
v3.25.0.1
SIGNIFICANT ACCOUNTING POLICIES (Redeemable Non-Controlling Interest) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]      
Beginning of the year $ 7,789 $ 7,903 $ 7,869
Net income (loss) attributable to non-controlling interest (144) (584) 688
Adjustment to Put option value [1] (3,782) 532 198
Payment For Put Option [1] (1,556) 0 0
Foreign currency translation adjustments (107) (62) (852)
Redeemable non-controlling interest - end of the year $ 2,200 $ 7,789 $ 7,903
[1] See also Note 1b.
v3.25.0.1
MARKETABLE SECURITIES (Summary of Available-for-sale Marketable Securities) (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Available-for-sale – matures within one year:  
Amortized cost, within one year $ 7,164
Gross unrealized gains, within one year 0
Gross unrealized losses, within one year 126
Accrued Interest, within one year 39
Fair value, within one year 7,077
Corporate bonds [Member]  
Available-for-sale – matures within one year:  
Amortized cost, within one year 7,164
Gross unrealized gains, within one year 0
Gross unrealized losses, within one year 126
Accrued Interest, within one year 39
Fair value, within one year $ 7,077
v3.25.0.1
OTHER ACCOUNTS RECEIVABLE AND PREPAID EXPENSES (Schedule of Other Accounts Receivable and Prepaid Expenses) (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Prepaid expenses $ 6,505 $ 5,388
Government authorities 2,841 4,410
Advances to suppliers 2,703 3,102
Derivatives 110 539
Insurance receivables [1] 32,178 8,361
Other receivables 5,168 3,689
Other accounts receivables and prepaid expenses $ 49,505 $ 25,489
[1] Related to bodily injury claims, see also note 11.
v3.25.0.1
INVENTORIES (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Inventory Disclosure [Abstract]    
Raw materials $ 7,090 $ 11,884
Work-in-progress 1,864 2,390
Finished goods 103,655 122,172
Inventories $ 112,609 $ 136,446
v3.25.0.1
PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Property, Plant and Equipment [Line Items]      
Cost $ 246,771 $ 516,810  
Accumulated depreciation 171,047 393,330  
Depreciated cost 75,724 123,480  
Depreciation expense 14,844 27,387 $ 33,813
Non cash pre-tax impairment charges 0 28,471 $ 26,429
Machinery and Manufacturing Equipment [Member]      
Property, Plant and Equipment [Line Items]      
Cost [1] 163,517 339,657  
Accumulated depreciation 120,851 249,499  
Investment grants received 7,463    
Office Equipment and Furniture [Member]      
Property, Plant and Equipment [Line Items]      
Cost 27,783 40,012  
Accumulated depreciation 18,604 27,866  
Motor Vehicles [Member]      
Property, Plant and Equipment [Line Items]      
Cost 3,517 4,933  
Accumulated depreciation 2,798 3,908  
Buildings and Leasehold Improvements [Member]      
Property, Plant and Equipment [Line Items]      
Cost 51,015 131,269  
Accumulated depreciation 28,611 56,984  
Prepaid Expenses Related to Operating Lease [Member]      
Property, Plant and Equipment [Line Items]      
Cost [2] 939 939  
Accumulated depreciation 183 173  
Impairment of fixed assets [Member]      
Property, Plant and Equipment [Line Items]      
Impairment of fixed assets [3] $ 0 $ 54,900  
[1] Presented net of investment grants received in the total amount of $7,463.
[2] Until 2012, the Company leased land from the Israel Lands Administration ("ILA") for its Bar-Lev manufacturing facility. The lease term started on February 6, 2005. The lease is for an initial non-cancellable term of 49 years, with a renewal option of an additional 49 years.
[3] Non cash pre-tax impairment charges recognized in 2024, 2023, and 2022 were $0, $28,471 and $26,429, respectively (see also Note 2k).
v3.25.0.1
GOODWILL AND INTANGIBLES (Narrative) (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2022
Dec. 31, 2022
 [1]
Dec. 31, 2024
Dec. 31, 2023
GOODWILL [Abstract]        
Goodwill Impairment $ 44,829 $ 44,829    
Amortization expense     $ 2,617 $ 2,620
Estimated amortization expenses for 2025     $ 263  
[1] The Company performs its annual testing of goodwill in the fourth quarter of each year in accordance with ASC 350 (see also Note 2l). During the fourth quarter of 2022, the Company conducted an impairment test of its reporting unit. Due to factors such as a decrease in the Company's market value, lower-than-expected projected future cash flows, and higher interest rates, a pre-tax, non-cash goodwill impairment charge of $44,829 was recorded.
v3.25.0.1
GOODWILL AND INTANGIBLES (Schedule of Changes in Carrying Amount of Goodwill) (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2022
Dec. 31, 2022
GOODWILL [Abstract]    
Beginning balance   $ 45,800
Acquired through business combination [1]   792
Goodwill Impairment $ (44,829) (44,829) [2]
Foreign currency translation adjustments   (1,763)
Ending balance $ 0 $ 0
[1] Resulting from Magrab acquisition, see also Notes 1(d).
[2] The Company performs its annual testing of goodwill in the fourth quarter of each year in accordance with ASC 350 (see also Note 2l). During the fourth quarter of 2022, the Company conducted an impairment test of its reporting unit. Due to factors such as a decrease in the Company's market value, lower-than-expected projected future cash flows, and higher interest rates, a pre-tax, non-cash goodwill impairment charge of $44,829 was recorded.
v3.25.0.1
GOODWILL AND INTANGIBLES (Schedule of Intangible Assets) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Line Items]    
Finite-Lived Intangible Assets, Accumulated Amortization $ 2,617 $ 2,620
Impairment charges [1] (3,236) 0
Foreign currency translation adjustment (181) (39)
Total intangibles assets 263 6,257
Customer Relationships [Member]    
Goodwill [Line Items]    
Finite-Lived Intangible Assets, Gross 13,983 13,983
Finite-Lived Intangible Assets, Accumulated Amortization $ (10,302) $ (7,687)
[1] See also Note 2k.
v3.25.0.1
SHORT-TERM BANK CREDIT AND CURRENT MATURITIES OF LONG-TERM LOAN (Details) - INR [Member] - INR (₨)
₨ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Short-term Debt [Line Items]    
Short-term bank credit [1] ₨ 2,534 ₨ 2,801
Current maturities of Long- term bank loan and other [1] ₨ 2,021 ₨ 2,317
Weighted average interest    
Short-term bank credit [1] 9.30% 10.10%
Current maturities of Long- term bank loan and other [1] 9.60% 8.90%
Total ₨ 4,555 ₨ 5,118
[1] Credit line and bank loan in Lioli - During 2022, Lioli engaged with a new bank and signed a new loan agreement. The loan agreement with the bank in Lioli contains customary covenants. Lioli is in compliance with the requirement of the financial covenants under the agreement of own capital contribution. The Loan Agreement also contains certain customary negative covenants that require Lioli to refrain from certain actions unless bank’s consent obtained. Lioli debt is secured by a SBLC (Stand By Letter of Credit) from Caesarstone and floating charge on all of Lioli’s assets. (see also Note 15).
v3.25.0.1
ACCRUED EXPENSES AND OTHER LIABILITIES (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Payables and Accruals [Abstract]    
Employees and payroll accruals $ 11,690 $ 13,410
Accrued expenses 7,990 8,833
Advances from customers 2,435 2,413
Taxes payable 3,585 5,617
Warranty provision 824 1,154
Sales return provision 432 875
Operating lease liability short-term 24,339 23,932
Contingent consideration liability and other 88 660
Total accrued expenses and other liabilities $ 51,383 $ 56,894
v3.25.0.1
LEASES (Narrative) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Lessee, Lease, Description [Line Items]    
Impairment charge of ROU asset $ 16,575  
Sublease rental payments due in the future 22,000  
Additional operating lease payments $ 2,700  
Additional operating lease payments term 7 years  
Lease term 6 years 6 months 7 years 3 months 18 days
v3.25.0.1
LEASES (Schedule of Lease-Related Assets and Liabilities) (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Lessee Disclosure [Abstract]    
Operating lease right-of-use assets [1] $ 115,392 $ 120,156
Current lease liabilities Accrued expenses and other liabilities 24,339 23,932
Long-term lease liabilities 107,313 114,146
Debt and Lease Obligation $ 131,652 $ 138,078
Operating Lease, Weighted Average Remaining Lease Term 6 years 6 months 7 years 3 months 18 days
Weighted average discount rate 3.10% 2.70%
[1] Following the closure of Sdot Yam plant, the Company evaluated it's right of use asset resulted from non-cancelable lease agreement effective through 2032. Based on future estimated sublease the Company recorded an impairment of $16,575 during 2023. No additional impairment was identified during 2024.
v3.25.0.1
LEASES (Schedule of Components of Operating Lease Cost) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating lease cost:    
Operating lease expense $ 28,454 $ 28,771
Variable lease expense [1] 7,306 1,113
Sublease income (1,624) (477)
Total operating lease cost $ 34,136 $ 29,407
[1] Includes short-term leases, index and other variable lease costs
v3.25.0.1
LEASES (Schedule of Operating Lease Liabilities) (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Lessee Disclosure [Abstract]  
2025 $ 26,726
2026 24,636
2027 20,652
2028 17,534
2029 16,134
2030 and thereafter 38,958
Total future lease payments 144,640 [1],[2]
Less imputed interest (12,988)
Total $ 131,652
[1] As of December 31, 2024, we have additional operating lease payments, that have not yet commenced of approximately $2.7 million. These operating leases will commence during 2025 with lease terms of 7 years.
[2] Total lease payments have not been reduced by sublease rental expected payments of approximately $22 million due in the future under non-cancelable subleases.
v3.25.0.1
LEASES (Schedule of Supplemental Cash Flow Information) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash paid for amounts included in measurement of lease liabilities:    
Operating cash flows for operating leases $ 27,468 $ 27,471
v3.25.0.1
COMMITMENTS AND CONTINGENT LIABILITIES (Narrative) (Details)
$ in Thousands, $ in Millions
 1 Months Ended 12 Months Ended
Aug. 31, 2024
USD ($)
Dec. 31, 2024
USD ($)
Claim
Dec. 31, 2023
USD ($)
Claim
Dec. 31, 2022
Claim
Dec. 31, 2024
CAD ($)
Dec. 31, 2024
USD ($)
Loss Contingencies [Line Items]            
Number of claims filed | Claim   101 63 87    
Loss contingency liability, current     $ 16,106     $ 42,706
Loss contingency liability, non-current     11,814     9,492
Purchase obligation           22,442
Pledges and guarantees           3,947
Canada [Member]            
Loss Contingencies [Line Items]            
Insurance receivable         $ 20  
Individual Claims [Member] | USA [Member]            
Loss Contingencies [Line Items]            
Number of claims filed | Claim   122        
Settlement amount for claims $ 52,400          
Lawsuit claim amount $ 13,000          
Individual Claims [Member] | Australia [Member]            
Loss Contingencies [Line Items]            
Number of claims filed | Claim   122        
Individual Claims [Member] | Israel [Member]            
Loss Contingencies [Line Items]            
Number of claims filed | Claim   124        
Number of pre-litigation demand letters | Claim   11        
New Silicosis Claim [Member]            
Loss Contingencies [Line Items]            
Legal settelments and loss contingencies   $ 7,242 4,847      
Loss contingency liability     25,717     50,032
Loss contingency liability, current     14,509     40,540
Loss contingency liability, non-current     11,208     9,492
Insurance receivable     $ 8,361     $ 32,178
v3.25.0.1
COMMITMENTS AND CONTINGENT LIABILITIES (Schedule of Bodily Injury Claims) (Details) - Claim
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Loss Contingency Pending Claims Numer Roll Forward      
Outstanding claims, January 1 224 221 203
New claims 101 63 87
Settled and dismissed claims (77) (60) (69)
Outstanding claims, December 31 248 224 221
v3.25.0.1
TAXES ON INCOME (Narrative) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2014
Income Tax Contingency [Line Items]        
Corporate tax rate 23.00% 23.00% 23.00%  
Population of enterprise sales in a specific market population of at least 14 million      
Liability for unrecognized tax benefits $ 973 $ 973    
Attributable to Approved Enterprise Programs [Member]        
Income Tax Contingency [Line Items]        
Tax-exempt earnings 20,058      
Tax liability, if distributed $ 5,015      
Machinery and Manufacturing Equipment [Member]        
Income Tax Contingency [Line Items]        
Accelerated depreciation rate 200.00%      
Building [Member]        
Income Tax Contingency [Line Items]        
Accelerated depreciation rate 400.00%      
Minimum [Member]        
Income Tax Contingency [Line Items]        
Percentage of industrial enterprise sales revenues 25.00%      
Development Area A [Member]        
Income Tax Contingency [Line Items]        
Corporate tax rate 20.00%      
Foreign residents from the preferred enterprise earnings [Member]        
Income Tax Contingency [Line Items]        
Corporate tax rate       20.00%
Israel [Member] | Earliest Tax Year [Member]        
Income Tax Contingency [Line Items]        
Open tax year 2023      
Australia [Member]        
Income Tax Contingency [Line Items]        
Corporate tax rate 30.00%      
Australia [Member] | Earliest Tax Year [Member]        
Income Tax Contingency [Line Items]        
Open tax year 2019      
Canada [Member]        
Income Tax Contingency [Line Items]        
Corporate tax rate 26.10%      
Canada [Member] | Earliest Tax Year [Member]        
Income Tax Contingency [Line Items]        
Open tax year 2020      
United States [Member]        
Income Tax Contingency [Line Items]        
Corporate tax rate 25.30%      
United States [Member] | Earliest Tax Year [Member]        
Income Tax Contingency [Line Items]        
Open tax year 2020      
Singapore [Member]        
Income Tax Contingency [Line Items]        
Corporate tax rate 17.00%      
England [Member]        
Income Tax Contingency [Line Items]        
Corporate tax rate 25.00%      
India [Member]        
Income Tax Contingency [Line Items]        
Corporate tax rate 30.00%      
Sweden [Member]        
Income Tax Contingency [Line Items]        
Corporate tax rate 20.60%      
v3.25.0.1
TAXES ON INCOME (Schedule of Deferred Income Taxes) (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets:    
Goodwill and Intangible assets $ 172 $ 227
Operating lease liabilities and others [1] 24,744 28,558
Temporary differences related to inventory [2] 5,475 9,068
Property and equipment 2,685 3,315
Net operating loss carry-forward, deductions and credits [3] 13,301 10,451
Less-valuation allowance (28,497) (29,198)
Total deferred tax assets 17,880 22,421
Deferred tax liabilities:    
Property and equipment (2,591) (2,844)
Intangible Assets (595) (1,533)
Operating lease right-of-use assets and others lease (14,223) (17,989)
Total deferred tax liabilities (17,409) (22,366)
Deferred tax assets, net $ 471 $ 55
[1] Deriving mainly from provision for labor related, provision for loss contingencies and lease accounting in accordance with ASC842.
[2] Deriving mainly from the provision for slow moving inventory and IRS section 263(a).
[3] Parent company and certain subsidiaries have tax loss carry-forwards totaling approximately $197,396 which can be carried forward and offset against taxable income, these carry-forward tax losses have no expiration date. In addition to the above, the Company carried back its 2020 U.S. subsidiaries losses in accordance with the CARES act.
v3.25.0.1
TAXES ON INCOME (Reconciliation of Company's Effective Tax Rate to Statutory Tax Rate) (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Income (loss) before taxes on income $ (41,895) $ (86,959) $ (55,608)
Statutory tax rate in Israel 23.00% 23.00% 23.00%
Income (loss) taxes at statutory rate $ (9,636) $ (20,001) $ (12,790)
Increase (decrease) in tax expenses resulting from:      
Tax benefit arising from reduced rate as an "Preferred Enterprise" 9,128 9,996 2,622
Non-deductible expenses, net 822 1,818 10,745
Increase (decrease) in taxes from prior years, also related to settlement with tax authorities 882 419 (735)
Tax adjustment in respect of foreign subsidiaries' different tax rates 997 (1,120) (239)
Provision for withholding tax assets 0 2,828 0
Uncertain tax position (353) 0 0
Changes in valuation allowance (701) 27,402 1,079
Others (58) (61) 76
Income tax expense $ 1,081 $ 21,281 $ 758
Effective tax rate (2.60%) (24.50%) (1.40%)
Per share amounts (basic and diluted) of the tax benefit resulting from a "Preferred Enterprise" $ 0.26 $ 0.29 $ (0.04)
v3.25.0.1
TAXES ON INCOME (Schedule of Income Before Taxes on Income) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Domestic $ (45,582) $ (38,831) $ (18,671)
Foreign 3,687 (48,128) (36,937)
Loss before taxes on income $ (41,895) $ (86,959) $ (55,608)
v3.25.0.1
TAXES ON INCOME (Schedule of Tax Expenses on Income) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Current taxes $ 1,498 $ 9,373 $ 6,832
Deferred taxes (417) 11,908 (6,074)
Income tax expense 1,081 21,281 758
Domestic 1,258 14,084 436
Foreign (177) 7,197 322
Income tax expense $ 1,081 $ 21,281 $ 758
v3.25.0.1
TAXES ON INCOME (Reconciliation of Beginning and Ending Balances of Unrecognized Tax Benefits) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Gross tax liabilities, beginning balance $ 2,891 $ 2,891 $ 3,773
Increase in tax positions for current year 700 0 882
Increase in tax positions from prior years 973 973  
Reductions in respect of settlements with authorities and statute of limitation (1,918)    
Gross tax liabilities, ending balance $ 1,673 $ 2,891 $ 2,891
v3.25.0.1
SHAREHOLDERS' EQUITY (Narrative) (Details) - USD ($)
$ / shares in Units, $ in Thousands
 1 Months Ended 12 Months Ended
Sep. 17, 2020
Feb. 29, 2020
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Quarterly cash dividend paid per share   $ 0.1      
Dividend paid       $ 8,625 $ 8,625
Percentage amount of reported net income attributable to controlling interest   50.00%      
Incentive Compensation Plan [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Number of additional shares authorized 1,000,000        
Number of ordinary shares registered under Plan 2,500,000   3,275,000    
Options and restricted stock units outstanding     2,541,670    
Ordinary shares reserved for issuance     1,031,551    
Employee Stock Option [Member]          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Weighted-average grant-date fair value of options granted     $ 1.7 $ 1.9 $ 3.8
Weighted-average grant-date fair value of options vested     $ 9.56 $ 12.96 $ 12.3
Intrinsic value of options exercised     $ 0 $ 0 $ 0
Unrecognized compensation cost     $ 1,920    
Unrecognized compensation cost, weighted-average recognition period     2 years 9 months 18 days    
v3.25.0.1
SHAREHOLDERS' EQUITY (Schedule of Share Capital) (Details) - ₪ / shares
Dec. 31, 2024
Dec. 31, 2023
Stockholders' Equity Note [Abstract]    
Ordinary shares, par value per share ₪ 0.04 ₪ 0.04
Ordinary shares, shares authorized 200,000,000 200,000,000
Ordinary shares, shares outstanding 34,549,050 34,532,452
v3.25.0.1
SHAREHOLDERS' EQUITY (Summary of Stock Option Activity) (Details) - Employee Stock Option [Member]
 12 Months Ended
Dec. 31, 2024
USD ($)
$ / shares
shares
Number of options  
Outstanding - beginning of the year | shares 2,279,400
Granted | shares 860,730
Forfeited | shares (671,150)
Outstanding - end of the year | shares 2,468,980
Options exercisable at the end of the year | shares 593,550
Vested and expected to vest | shares 593,550
Weighted average exercise price  
Outstanding - beginning of the year | $ / shares $ 8.63
Granted | $ / shares 6.68
Forfeited | $ / shares 14.49
Outstanding - end of the year | $ / shares 5.57
Options exercisable at the end of the year | $ / shares 8.01
Vested and expected to vest | $ / shares $ 8.01
Aggregate intrinsic value  
Outstanding - beginning of the year | $ $ 0
Granted | $ 100
Forfeited | $ 0
Outstanding - end of the year | $ 0
Options exercisable at the end of the year | $ 0
Vested and expected to vest | $ $ 0
v3.25.0.1
SHAREHOLDERS' EQUITY (Summary of Activities Relating to Company's RSUs Granted to Employees) (Details) - RSUs [Member]
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
$ / shares
shares
Number of RSUs  
Outstanding - beginning of the year | shares 60,711
Granted | shares 48,500
Exercised | shares (18,757)
Forfeited | shares (17,764)
Outstanding - end of the year | shares 72,690
RSUs exercisable at the end of the year | shares 0
Vested and expected to vest | shares 72,690
Weighted average fair value  
Outstanding - beginning of the year | $ / shares $ 8.51
Granted | $ / shares 5.09
Exercised | $ / shares 7.87
Forfeited | $ / shares 4
Outstanding - end of the year | $ / shares 6.13
RSUs exercisable at the end of the year | $ / shares 0
Vested and expected to vest | $ / shares $ 6.13
Aggregate intrinsic value  
Outstanding - beginning of the year | $ $ 227
Outstanding - end of the year | $ 309
RSUs exercisable at the end of the year | $ 0
Vested and expected to vest | $ $ 309
v3.25.0.1
SHAREHOLDERS' EQUITY (Schedule of Awards Outstanding) (Details)
 12 Months Ended
Dec. 31, 2024
$ / shares
shares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]  
Number of options outstanding | shares 2,541,670
Number of options exercisable | shares 641,325
0.01 [Member] | RSUs [Member]  
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]  
Exercise price $ 0.01
Number of options outstanding | shares 72,690
Awards outstanding, weighted average remaining contractual life (years) 5 years 10 months 6 days
Awards outstanding, weighted average exercise price per share $ 0.01
Number of options exercisable | shares 0
Awards exercisable, weighted average exercise price $ 0
$4.0-9.5 [Member]  
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]  
Exercise price, minimum 4
Exercise price, maximum $ 9.5
Number of options outstanding | shares 2,196,080
Awards outstanding, weighted average remaining contractual life (years) 6 years 1 month 6 days
Awards outstanding, weighted average exercise price per share $ 4.7
Number of options exercisable | shares 358,125
Awards exercisable, weighted average remaining contractual life (years) 5 years 8 months 26 days
Awards exercisable, weighted average exercise price $ 5.03
$ 10.2-19.7 [Member]  
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]  
Exercise price, minimum 10.2
Exercise price, maximum $ 19.7
Number of options outstanding | shares 272,900
Awards outstanding, weighted average remaining contractual life (years) 3 years 3 months 29 days
Awards outstanding, weighted average exercise price per share $ 12.57
Number of options exercisable | shares 235,425
Awards exercisable, weighted average remaining contractual life (years) 3 years 2 months 1 day
Awards exercisable, weighted average exercise price $ 12.53
v3.25.0.1
SHAREHOLDERS' EQUITY (Schedule Compensation Expenses) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Share-based compensation expense $ 2,044 $ 1,025
Cost of revenues [Member]    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Share-based compensation expense 90 95
Research and development expenses [Member]    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Share-based compensation expense 86 89
Marketing and selling expenses [Member]    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Share-based compensation expense 153 298
General and administrative expenses [Member]    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Share-based compensation expense $ 1,715 $ 543
v3.25.0.1
TRANSACTIONS WITH RELATED PARTIES (Kibbutz) (Details)
$ in Thousands
 12 Months Ended
Aug. 06, 2013
ILS (₪)
m²
Aug. 06, 2013
USD ($)
m²
Dec. 31, 2024
ILS (₪)
shares
Dec. 31, 2024
USD ($)
shares
Dec. 31, 2023
USD ($)
Dec. 31, 2022
ILS (₪)
Dec. 31, 2022
USD ($)
Dec. 31, 2012
ILS (₪)
Dec. 31, 2012
USD ($)
Dec. 31, 2011
m²
Kibbutz [Member]                    
Related Party Transaction [Line Items]                    
Percentage of ownership     30.20% 30.20%            
Number of shares which entity has shared voting power | shares     14,029,494 14,029,494            
Outstanding percentage of ordinary shares     40.60% 40.60%            
Proceeds from sale-leaseback transaction               ₪ 43,700,000 $ 10,900  
Lease term               10 years 10 years  
Annual rent           ₪ 8,100,000 $ 2,600 ₪ 4,100,000 $ 1,200  
Kibbutz [Member] | Manpower Agreement [Member]                    
Related Party Transaction [Line Items]                    
Additional contract term     3 years 3 years            
Payment For Manpower Service Fees       $ 1,347 $ 1,553   1,768      
Kibbutz [Member] | Kibbutz Services [Member]                    
Related Party Transaction [Line Items]                    
Notice period to cancel agreement upon a material breach     30 days 30 days            
Notice period to cancel agreement upon liquidation of the other party     45 days 45 days            
Payments for Other Fees       $ 708 810   1,334      
Kibbutz [Member] | Land Use Agreement [Member]                    
Related Party Transaction [Line Items]                    
Contract term     20 years 20 years            
Related Party Transaction, Amounts of Transaction     ₪ 18,600,000 $ 5,980            
Area of property | m² 12,800 12,800               30,744
Unbuilt area of property | m²                   60,870
Fee for land use agreement ₪ 70,000 $ 22                
Kibbutz [Member] | Land Use Agreement [Member] | Warehouse Site [Member]                    
Related Party Transaction [Line Items]                    
Interest rate     1.40% 1.40%            
Kibbutz [Member] | Construction of Access Road [Member]                    
Related Party Transaction [Line Items]                    
Related Party Transaction, Amounts of Transaction     ₪ 3,300,000 $ 910            
Expenses incurred     ₪ 300,000 $ 83            
Tene [Member]                    
Related Party Transaction [Line Items]                    
Number of shares which entity has shared voting power | shares     14,029,494 14,029,494            
Outstanding percentage of ordinary shares     40.60% 40.60%            
Sdot-yam And Bar-lev [Member] | Land Purchase Agreement and Leaseback [Member]                    
Related Party Transaction [Line Items]                    
Related Party Transaction, Amounts of Transaction       $ 8,129 $ 7,857   $ 8,162      
v3.25.0.1
TRANSACTIONS WITH RELATED PARTIES (Schedule of Transactions with Related Parties) (Details) - Kibbutz [Member] - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cost of revenues [Member]      
Related Party Transaction [Line Items]      
Amounts of transaction $ 7,893 $ 8,232 $ 8,870
Research and development [Member]      
Related Party Transaction [Line Items]      
Amounts of transaction 520 486 574
Selling and marketing [Member]      
Related Party Transaction [Line Items]      
Amounts of transaction 927 621 730
General and administrative [Member]      
Related Party Transaction [Line Items]      
Amounts of transaction 811 848 951
Finance expenses, net [Member]      
Related Party Transaction [Line Items]      
Amounts of transaction $ 0 $ 0 $ (392)
v3.25.0.1
TRANSACTIONS WITH RELATED PARTIES (Schedule of Balances with Related Parties) (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Related Party Transaction [Line Items]    
Related party balances $ 206 $ 257
Long-term loan from related parties 444 479
Related party balances [Member]    
Related Party Transaction [Line Items]    
Related party balances [1] 206 257
Other loans [Member]    
Related Party Transaction [Line Items]    
Long-term loan from related parties [2] $ 444 $ 479
[1] Related to the above mentioned agreements with related party.
[2] Related to the shareholders loan in Lioli.
v3.25.0.1
LONG-TERM BANK LOAN (Narrative) (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
Long-term Debt, by Current and Noncurrent [Abstract]  
Long-term debt, face amount $ 2,021
Long-term debt, interest rate terms the loan carries interest rate of 9.1% (linked to MCLR).
v3.25.0.1
SEGMENT, MAJOR CUSTOMER AND GEOGRAPHIC INFORMATION (Narrative) (Details)
 12 Months Ended
Dec. 31, 2024
Segment
Segment Reporting [Abstract]  
Number of reportable segments 1
v3.25.0.1
SEGMENT, MAJOR CUSTOMER AND GEOGRAPHIC INFORMATION (Schedule of Revenues) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenues $ 443,221 $ 565,231 $ 690,806
USA [Member]      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenues 219,559 271,647 342,293
Canada [Member]      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenues 61,749 75,462 93,377
Latin America [Member]      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenues 1,392 3,285 4,481
Australia [Member]      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenues 75,388 106,223 116,284
Asia [Member]      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenues 20,577 25,959 34,607
EMEA [Member]      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenues 47,121 59,908 63,320
Israel [Member]      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Revenues $ 17,435 $ 22,747 $ 36,444
v3.25.0.1
SEGMENT, MAJOR CUSTOMER AND GEOGRAPHIC INFORMATION (Schedule of Long-Lived Assets) (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets $ 224,526 $ 249,893
USA [Member]    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 87,861 100,886
Canada [Member]    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 10,506 4,685
Australia [Member]    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 5,618 7,885
Asia [Member]    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 19,435 22,630
EMEA [Member]    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 11,315 13,794
Israel [Member]    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets $ 89,791 $ 100,013
v3.25.0.1
SELECTED SUPPLEMENTARY STATEMENTS OF INCOME DATA (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Finance expenses:      
Interest in respect of credit cards and bank fees $ 3,846 $ 4,957 $ 5,380
Interest in respect of loans 300 377 346
Amortization/accretion of premium/discount on marketable securities 0 0 237
Realized gain/loss from marketable securities, net 0 63 0
Changes in derivatives fair value 430 0 1,509
Foreign exchange transactions losses 1,781 154 3,818
Finance expenses 6,357 5,551 11,290
Finance income:      
Interest in respect of cash and cash equivalent and short-term bank deposits 4,799 1,473 20
Changes in derivatives fair value 0 680 0
Interest income from marketable securities 0 107 287
Foreign exchange transactions gains 1,549 4,360 14,062
Finance income 6,348 6,620 14,369
Finance expenses (income), net 9 (1,069) (3,079)
Numerator:      
Net loss attributable to controlling interest, as reported (42,832) (107,656) (57,054)
Adjustment to redemption value of non-controlling interest 3,782 (532) (198)
Numerator for basic and diluted net loss per share $ (39,050) $ (108,188) $ (57,252)
Denominator:      
Denominator for basic loss per share 34,539 34,519 34,488
Denominator for diluted loss per share 34,539 34,519 34,488
Earnings per share:      
Basic loss per share $ (1.13) $ (3.13) $ (1.66)
Diluted loss per share $ (1.13) $ (3.13) $ (1.66)