Kamada (KMDA) 6-K 24 May 23 Kamada Reports Strong First Quarter 2023 Financial Results; Reiterates Financial data

Document And Entity Information

Document And Entity Information	3 Months Ended
	Mar. 31, 2023
Document Information Line Items
Entity Registrant Name	KAMADA LTD
Document Type	6-K
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001567529
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity File Number	001-35948

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Current Assets
Cash and cash equivalents	$ 27,121	$ 34,258	$ 21,967
Trade receivables, net	20,925	27,252	21,568
Other accounts receivables	3,603	8,710	7,867
Inventories	79,754	68,785	64,761
Total Current Assets	131,403	139,005	116,163
Non-Current Assets
Property, plant and equipment, net	26,496	26,157	26,098
Right-of-use assets	5,836	2,568	2,990
Intangible assets, Goodwill and other long-term assets	145,305	147,072	151,858
Contract assets	7,755	7,577	5,987
Total Non-Current Assets	185,392	183,374	186,933
Total Assets	316,795	322,379	303,096
Current Liabilities
Current maturities of bank loans	4,444	4,444	3,725
Current maturities of lease liabilities	1,438	1,016	1,017
Current maturities of other long term liabilities	29,414	29,708	19,095
Trade payables	26,210	32,917	11,682
Other accounts payables	7,350	7,585	6,670
Deferred revenues	419	35	40
Total Current Liabilities	69,275	75,705	42,229
Non-Current Liabilities
Bank loans	11,852	12,963	16,296
Lease liabilities	4,992	2,177	3,056
Contingent consideration	18,115	17,534	22,551
Other long-term liabilities	37,280	37,308	42,531
Deferred revenues			15
Employee benefit liabilities, net	473	672	1,268
Total Non-Current Liabilities	72,712	70,654	85,717
Shareholder’s Equity
Ordinary shares	11,736	11,734	11,728
Additional paid in capital net	210,665	210,495	210,269
Capital reserve due to translation to presentation currency	(3,490)	(3,490)	(3,490)
Capital reserve from hedges	(99)	(88)	12
Capital reserve from share-based payments	5,750	5,505	4,771
Capital reserve from employee benefits	539	348	(149)
Accumulated deficit	(50,293)	(48,484)	(47,991)
Total Shareholder’s Equity	174,808	176,020	175,150
Total Liabilities and Shareholder’s Equity	$ 316,795	$ 322,379	$ 303,096

Consolidated Statements of Prof

Consolidated Statements of Profit or Loss and Other Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Revenues from proprietary products	$ 24,061	$ 23,011	$ 102,598
Revenues from distribution	6,649	5,082	26,741
Total revenues	30,710	28,093	129,339
Cost of revenues from proprietary products	13,224	12,449	58,229
Cost of revenues from distribution	5,647	4,342	24,407
Total cost of revenues	18,871	16,791	82,636
Gross profit	11,839	11,302	46,703
Research and development expenses	3,231	4,420	13,172
Selling and marketing expenses	3,922	3,321	15,284
General and administrative expenses	3,418	3,005	12,803
Other expenses	979	310	912
Operating income (loss)	289	246	4,532
Financial income	25	2	91
Income (expense) in respect of securities measured at fair value, net
Income (expenses) in respect of currency exchange differences and derivatives instruments, net	151	169	298
Revaluation of long-term liabilities	(1,761)	(2,010)	(6,266)
Financial expenses	(500)	(194)	(914)
Income before tax on income	(1,796)	(1,787)	(2,259)
Taxes on income	13	41	62
Net Income (loss)	(1,809)	(1,828)	(2,321)
Amounts that will be or that have been reclassified to profit or loss when specific conditions are met
Gain (loss) from securities measured at fair value through other comprehensive income
Gain (loss) on cash flow hedges	(156)	(108)	(776)
Net amounts transferred to the statement of profit or loss for cash flow hedges	145	66	634
Items that will not be reclassified to profit or loss in subsequent periods:
Remeasurement gain (loss) from defined benefit plan	191		497
Tax effect
Total comprehensive income (loss)	$ (1,629)	$ (1,870)	$ (1,966)
Earnings per share attributable to equity holders of the Company:
Basic net earnings per share (in Dollars per share)	$ (0.04)	$ (0.04)	$ (0.05)
Diluted net earnings per share (in Dollars per share)	$ (0.04)	$ (0.04)	$ (0.05)

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Share capital	Additional paid in capital	Capital reserve due to translation to presentation currency	Capital reserve from hedges	Capital reserve from sharebased payments	Capital reserve from employee benefits	Accumulated deficit	Total
Balance at Dec. 31, 2021	$ 11,725	$ 210,204	$ (3,490)	$ 54	$ 4,643	$ (149)	$ (46,163)	$ 176,824
Net income							(1,828)	(1,828)
Other comprehensive income (loss)				(42)				(42)
Total comprehensive income (loss)				(42)			(1,828)	(1,870)
Exercise and forfeiture of share-based payment into shares	3	65			(65)			3
Cost of share-based payment					193			193
Balance at Mar. 31, 2022	11,728	210,269	(3,490)	12	4,771	(149)	(47,991)	175,150
Balance at Dec. 31, 2021	11,725	210,204	(3,490)	54	4,643	(149)	(46,163)	176,824
Net income							(2,321)	(2,321)
Other comprehensive income (loss)				(142)		497		355
Total comprehensive income (loss)				(142)		497	(2,321)	(1,966)
Exercise and forfeiture of share-based payment into shares	9	291			(291)			9
Cost of share-based payment					1,153			1,153
Balance at Dec. 31, 2022	11,734	210,495	(3,490)	(88)	5,505	348	(48,484)	176,020
Net income							(1,809)	(1,809)
Other comprehensive income (loss)				(11)		191		180
Total comprehensive income (loss)				(11)		191	(1,809)	(1,629)
Exercise and forfeiture of share-based payment into shares	2	170			(170)			2
Cost of share-based payment					415			415
Balance at Mar. 31, 2023	$ 11,736	$ 210,665	$ (3,490)	$ (99)	$ 5,750	$ 539	$ (50,293)	$ 174,808

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Statement of cash flows [abstract]
Net income (loss)	$ (1,809)	$ (1,828)	$ (2,321)
Adjustments to the profit or loss items:
Depreciation and impairment	3,123	3,027	12,155
Financial expenses (income), net	2,085	2,033	6,791
Cost of share-based payment	415	193	1,153
Taxes on income	13	41	62
Loss (gain) from sale of property and equipment	(22)
Change in employee benefit liabilities, net	(8)	(12)	(111)
Adjustments to the profit or loss items	5,606	5,282	20,050
Changes in asset and liability items:
Investment in short term investments, net	6,306	13,492	7,603
Decrease (increase) in other accounts receivables	1,362	589	(578)
Decrease (increase) in inventories	(10,970)	2,662	(1,361)
Decrease (increase) in deferred expenses	3,554	(110)	(1,340)
Increase (decrease) in trade payables	(6,712)	(13,649)	7,055
Increase (decrease) in other accounts payables	(238)	(772)	290
Decrease in deferred revenues	384		(20)
Total Changes in asset and liability	(6,314)	2,212	11,649
Cash received (paid) during the period for:
Interest paid	(341)	(194)	(853)
Interest received	25	2	97
Taxes paid	(18)	(9)	(36)
Cash received (paid) during the year	(334)	(201)	(792)
Net cash provided by (used in) operating activities	(2,851)	5,465	28,586
Cash Flows from Investing Activities
Purchase of property and equipment and intangible assets	(1,117)	(513)	(3,784)
Proceeds from sale of property and equipment	24
Business combination
Net cash provided by (used in) investing activities	(1,093)	(513)	(3,784)
Cash Flows from Financing Activities
Proceeds from exercise of share base payments	1	3	9
Receipt of long-term loans
Repayment of lease liabilities	(271)	(295)	(1,098)
Repayment of long-term loans	(1,111)	(16)	(2,628)
Repayment of other long-term liabilities	(1,500)	(1,500)	(5,626)
Net cash provided by (used in) financing activities	(2,881)	(1,808)	(9,343)
Exchange differences on balances of cash and cash equivalent	(312)	236	212
Increase (decrease) in cash and cash equivalents	(7,137)	3,380	15,671
Cash and cash equivalents at the beginning of the period	34,258	18,587	18,587
Cash and cash equivalents at the end of the period	27,121	21,967	34,258
Significant non-cash transactions
Right-of-use asset recognized with corresponding lease liability	3,580	174	551
Purchase of property and equipment and Intangible assets	$ 292	$ 254	$ 618

General

General	3 Months Ended
	Mar. 31, 2023
General [Abstract]
General	Note 1:- General General description of the Company and its activity Kamada Ltd. (the “Company”) is a commercial stage global biopharmaceutical company with a portfolio of marketed products indicated for rare and serious conditions and a leader in the specialty plasma-derived field focused on diseases of limited treatment alternatives. The Company is also advancing an innovative development pipeline targeting areas of significant unmet medical need. The Company’s strategy is focused on driving profitable growth from its significant commercial catalysts as well as its manufacturing and development expertise in the plasma-derived and biopharmaceutical fields. The Company’s commercial products portfolio includes six FDA approved plasma-derived biopharmaceutical products CYTOGAM®, KEDRAB®, WINRHO SDF®, VARIZIG®, HEPAGAM B® and GLASSIA®, as well as KAMRAB, KAMRHO (D) and two types of equine-based anti-snake venom (ASV) products. The Company distributes its commercial products portfolio directly, and through strategic partners or third-party distributors in more than 30 countries, including the U.S., Canada, Israel, Russia, Argentina, Brazil, India, Australia and other countries in Latin America, Europe, the Middle East and Asia. The Company leverages its expertise and presence in the Israeli market to distribute, for use in Israel, more than 25 pharmaceutical products that are supplied by international manufacturers and during recent years added eleven biosimilar products to its Israeli distribution portfolio, which, subject to European Medicines Agency (EMA) and the Israeli Ministry of Health (“IL MOH”) approvals, are expected to be launched in Israel through 2028. The Company owns an FDA licensed plasma collection center in Beaumont, Texas that it acquired in March 2021, which currently specializes in the collection of hyper-immune plasma used in the manufacture of KAMRHO (D). In addition to the Company’s commercial operation, it invests in research and development of new product candidates. The Company’s leading investigational product is an inhaled AAT for the treatment of AAT deficiency, for which it is continuing to progress the InnovAATe clinical trial, a randomized, double-blind, placebo-controlled, pivotal Phase 3 trial. The Company has additional product candidates in early development stage. In November 2021, the Company acquired CYTOGAM, WINRHO SDF, VARIZIG and HEPGAM B from Saol Therapeutics Ltd. (“Saol”). The acquisition of this portfolio furthered the Company’s core objective to become a fully integrated specialty plasma company with strong commercial capabilities in the U.S. market, as well as to expand to new markets, mainly in the Middle East/North Africa region, and to broaden the Company’s portfolio offering in existing markets. The Company’s wholly owned U.S. subsidiary, Kamada Inc., is responsible for the commercialization of the four products in the U.S. market, including direct sales to wholesalers and local distributers. Refer to Note 5 in our annual Financial report for further details on this acquisition. The Company markets GLASSIA in the U.S. through a strategic partnership with Takeda Pharmaceuticals Company Limited (“Takeda”). Historically, the Company generated revenues on sales of GLASSIA, manufactured by the Company, to Takeda for further distribution in the United States. In accordance with the agreement with Takeda, the Company ceased the production and sale of GLASSIA to Takeda during 2021, and during the first quarter of 2022, Takeda began to pay the Company royalties on sales of GLASSIA manufactured by Takeda, at a rate of 12% on net sales through August 2025 and at a rate of 6% thereafter until 2040, with a minimum of $5 million annually for each of the years from 2022 to 2040. Refer to Note 19 in our annual Financial report for further details on the engagement with Takeda.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Significant Accounting Policies [Abstract]
Significant Accounting Policies	Note 2:- Significant Accounting Policies a. Basis of preparation of the interim consolidated financial statements: The interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles for the preparation of financial statements for interim periods, as prescribed in IAS 34, “Interim Financial Reporting”. b. Disclosure of New Standards in the Period Prior to Their Adoption: Amendment to IAS 1, Presentation of Financial Statements: Classification of Liabilities as Current or Non-Current Non-Current Liabilities with Covenants The Amendment, together with the subsequent amendment to IAS 1 (see hereunder) replaces certain requirements for classifying liabilities as current or non-current. According to the Amendment, a liability will be classified as non-current when the entity has the right to defer settlement for at least 12 months after the reporting period, and it “has substance” and is in existence at the end of the reporting period. According to the subsequent amendment, as published in October 2022, covenants with which the entity must comply after the reporting date do not affect classification of the liability as current or non-current. Additionally, the subsequent amendment adds disclosure requirements for liabilities subject to covenants within 12 months after the reporting date, such as disclosure regarding the nature of the covenants, the date they need to be complied with and facts and circumstances that indicate the entity may have difficulty complying with the covenants. Furthermore, the Amendment clarifies that the conversion option of a liability will affect its classification as current or non-current, other than when the conversion option is recognized as equity. The Amendment and subsequent amendment are effective for reporting periods beginning on or after January 1, 2024 with earlier application being permitted. The Amendment and subsequent amendment are applicable retrospectively, including an amendment to comparative data. The Company believes that the adoption of the Amendment will not have an effect on its financial statements.

Significant Events in the Repor

Significant Events in the Reporting Period	3 Months Ended
	Mar. 31, 2023
Significant Events in the Reporting Period [Abstract]
Significant events in the reporting period	Note 3:- Significant events in the reporting period i. Grant of Option to employees and executive officers On February 27, 2023, the Company’s Board of Directors approved the grant of options to purchase up to 147,000 options to purchase ordinary shares of the Company under the 2011 Plan and the US Appendix. The Company granted, out of the above mentioned, to employees and executive officers the following: Under the Israeli Share Option Plan: - On February 27, 2023, 60,333 options to purchase the ordinary shares of the Company, at an exercise price of NIS 16.53 (USD 4.50) per share. The fair value of the options calculated on the date of grant using the binomial option valuation model was estimated at $108 thousands. - On March 01, 2023 3,333 options to purchase ordinary shares of the Company, at an exercise price of NIS 16.63 (USD 4.57) per share. The fair value of the options was estimated on the date of grant at $5.7 thousands. - On March 02, 2023 40,000 options to purchase ordinary shares of the Company, at an exercise price of NIS 16.76 (USD 4.60) per share. The fair value of the options was estimated on the date of grant at $71 thousands. - On April 23, 2023 40,000 options to purchase ordinary shares of the Company, at an exercise price of NIS 17.67 (USD 4.83) per share. The fair value of the options was estimated on the date of grant at $65 thousands. Under the US Appendix: - On February 27, 2023 3,333 options to purchase the ordinary shares of the Company, at an exercise price of USD 4.57 per share. The fair value of the options was estimated on the date of grant was estimated at $5.80 thousands.

Operating Segments

Operating Segments	3 Months Ended
	Mar. 31, 2023
Operating Segments [Abstract]
Operating Segments	Note 4:- Operating Segments a. General: The company has two operating segments, as follows: Proprietary Products - Development, manufacturing, sales and distribution of proprietary plasma-derived protein therapeutics. Distribution - Distribute imported drug products in Israel, which are manufactured by third parties. b. Reporting on operating segments: Proprietary Distribution Total U.S Dollars in thousands Unaudited Three months period ended March 31, 2023 Revenues $ 24,061 $ 6,649 $ 30,710 Gross profit $ 10,837 $ 1,002 $ 11,839 Unallocated corporate expenses (11,550 ) Finance expenses, net (2,085 ) Income before taxes on income $ (1,796 ) Proprietary Distribution Total U.S Dollars in thousands Unaudited Three months period ended March 31, 2022 Revenues $ 23,011 $ 5,082 $ 28,093 Gross profit $ 10,562 $ 740 $ 11,302 Unallocated corporate expenses (11,056 ) Finance expenses, net (2,033 ) Income before taxes on income $ (1,787 ) b. Reporting on operating segments: Proprietary Distribution Total U.S Dollars in thousands Audited Year Ended December 31, 2022 Revenues $ 102,598 $ 26,741 $ 129,339 Gross profit $ 44,369 $ 2,334 $ 46,703 Unallocated corporate expenses (42,171 ) Finance expenses, net (6,791 ) Income before taxes on income $ (2,259 ) c. Reporting on operating segments by geographic region: Three months period ended Proprietary Distribution Total U.S Dollars in thousands Unaudited Geographical markets U.S.A and North America $ 16,830 $ - $ 16,830 Israel 994 6,649 7,643 Europe 3,334 - 3,334 Latin America 1,316 - 1,316 Asia 1,550 - 1,550 Others 38 - 38 $ 24,061 $ 6,649 $ 30,710 c. Reporting on operating segments by geographic region: Three months period ended Proprietary Distribution Total U.S Dollars in thousands Unaudited Geographical markets U.S.A and North America. $ 16,951 $ - $ 16,951 Israel 1,627 5,082 6,709 Europe 1,052 - 1,052 Latin America 2,030 - 2,030 Asia 984 - 984 Others 367 - 367 $ 23,011 $ 5,082 $ 28,093 Year ended December 31, 2022 Proprietary Distribution Total U.S Dollars in thousands Audited Geographical markets U.S.A and North America $ 75,851 $ - $ 75,851 Israel 5,290 26,741 32,031 Europe 5,277 - 5,277 Latin America 11,293 - 11,293 Asia 4,581 - 4,581 Others 305 - 305 $ 102,597 $ 26,741 $ 129,338

Financial Instruments

Financial Instruments	3 Months Ended
	Mar. 31, 2023
Financial Instruments [Abstract]
Financial Instruments	Note 5:- Financial Instruments a. Classification of financial instruments by fair value hierarchy Financial assets (liabilities) measured at fair value Level 1 Level 2 Level 3 U.S Dollars in thousands March 31, 2023 Derivatives instruments $ - $ (91 ) $ - Contingent consideration - - (24,115 ) March 31, 2022 Derivatives instruments (51) Contingent consideration $ - $ $ (22,251 ) December 31, 2022 Derivatives instruments $ - $ (92 ) $ - Contingent consideration $ - $ - $ (23,534 ) During the three months ended on March 31, 2023 there were no transfers due to the fair value measurement of any financial instrument from Level 1 to Level 2, and furthermore, there were no transfers to or from Level 3 due to the fair value measurement of any financial instrument.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of preparation of the interim consolidated financial statements	a. Basis of preparation of the interim consolidated financial statements: The interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles for the preparation of financial statements for interim periods, as prescribed in IAS 34, “Interim Financial Reporting”.
Implementation of new accounting standards	b. Disclosure of New Standards in the Period Prior to Their Adoption: Amendment to IAS 1, Presentation of Financial Statements: Classification of Liabilities as Current or Non-Current Non-Current Liabilities with Covenants The Amendment, together with the subsequent amendment to IAS 1 (see hereunder) replaces certain requirements for classifying liabilities as current or non-current. According to the Amendment, a liability will be classified as non-current when the entity has the right to defer settlement for at least 12 months after the reporting period, and it “has substance” and is in existence at the end of the reporting period. According to the subsequent amendment, as published in October 2022, covenants with which the entity must comply after the reporting date do not affect classification of the liability as current or non-current. Additionally, the subsequent amendment adds disclosure requirements for liabilities subject to covenants within 12 months after the reporting date, such as disclosure regarding the nature of the covenants, the date they need to be complied with and facts and circumstances that indicate the entity may have difficulty complying with the covenants. Furthermore, the Amendment clarifies that the conversion option of a liability will affect its classification as current or non-current, other than when the conversion option is recognized as equity. The Amendment and subsequent amendment are effective for reporting periods beginning on or after January 1, 2024 with earlier application being permitted. The Amendment and subsequent amendment are applicable retrospectively, including an amendment to comparative data. The Company believes that the adoption of the Amendment will not have an effect on its financial statements.

Operating Segments (Tables)

Operating Segments (Tables)	3 Months Ended
	Mar. 31, 2023
Operating Segments [Abstract]
Schedule of reporting on operating segments	Proprietary Distribution Total U.S Dollars in thousands Unaudited Three months period ended March 31, 2023 Revenues $ 24,061 $ 6,649 $ 30,710 Gross profit $ 10,837 $ 1,002 $ 11,839 Unallocated corporate expenses (11,550 ) Finance expenses, net (2,085 ) Income before taxes on income $ (1,796 ) Proprietary Distribution Total U.S Dollars in thousands Unaudited Three months period ended March 31, 2022 Revenues $ 23,011 $ 5,082 $ 28,093 Gross profit $ 10,562 $ 740 $ 11,302 Unallocated corporate expenses (11,056 ) Finance expenses, net (2,033 ) Income before taxes on income $ (1,787 ) Proprietary Distribution Total U.S Dollars in thousands Audited Year Ended December 31, 2022 Revenues $ 102,598 $ 26,741 $ 129,339 Gross profit $ 44,369 $ 2,334 $ 46,703 Unallocated corporate expenses (42,171 ) Finance expenses, net (6,791 ) Income before taxes on income $ (2,259 )
Schedule of reporting on operating segments geographic region	Three months period ended Proprietary Distribution Total U.S Dollars in thousands Unaudited Geographical markets U.S.A and North America $ 16,830 $ - $ 16,830 Israel 994 6,649 7,643 Europe 3,334 - 3,334 Latin America 1,316 - 1,316 Asia 1,550 - 1,550 Others 38 - 38 $ 24,061 $ 6,649 $ 30,710 Three months period ended Proprietary Distribution Total U.S Dollars in thousands Unaudited Geographical markets U.S.A and North America. $ 16,951 $ - $ 16,951 Israel 1,627 5,082 6,709 Europe 1,052 - 1,052 Latin America 2,030 - 2,030 Asia 984 - 984 Others 367 - 367 $ 23,011 $ 5,082 $ 28,093 Year ended December 31, 2022 Proprietary Distribution Total U.S Dollars in thousands Audited Geographical markets U.S.A and North America $ 75,851 $ - $ 75,851 Israel 5,290 26,741 32,031 Europe 5,277 - 5,277 Latin America 11,293 - 11,293 Asia 4,581 - 4,581 Others 305 - 305 $ 102,597 $ 26,741 $ 129,338

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2023
Financial Instruments [Abstract]
Schedule of financial assets (liabilities) measured at fair value	Level 1 Level 2 Level 3 U.S Dollars in thousands March 31, 2023 Derivatives instruments $ - $ (91 ) $ - Contingent consideration - - (24,115 ) March 31, 2022 Derivatives instruments (51) Contingent consideration $ - $ $ (22,251 ) December 31, 2022 Derivatives instruments $ - $ (92 ) $ - Contingent consideration $ - $ - $ (23,534 )

General (Details)

General (Details)	3 Months Ended
	Mar. 31, 2023
General [Abstract]
Pursuant agreement, description	Company ceased the production and sale of GLASSIA to Takeda during 2021, and during the first quarter of 2022, Takeda began to pay the Company royalties on sales of GLASSIA manufactured by Takeda, at a rate of 12% on net sales through August 2025 and at a rate of 6% thereafter until 2040, with a minimum of $5 million annually for each of the years from 2022 to 2040.

Significant Events in the Rep_2

Significant Events in the Reporting Period (Details)	Apr. 23, 2023 USD ($) $ / shares shares	Apr. 23, 2023 ₪ / shares	Mar. 01, 2023 USD ($) $ / shares shares	Mar. 01, 2023 ₪ / shares	Feb. 27, 2023 USD ($) $ / shares shares	Feb. 27, 2023 ₪ / shares	Mar. 02, 2022 USD ($) shares	Mar. 02, 2022 ₪ / shares
Significant Events in the Reporting Period (Details) [Line Items]
Option granted					3,333
Exercise price | $ / shares					$ 4.57
Fair value of options (in Dollars) | $					$ 5.8
Option [Member]
Significant Events in the Reporting Period (Details) [Line Items]
Option granted	40,000		3,333		60,333		40,000
Exercise price | (per share)	$ 4.83	₪ 17.67	$ 4.57	₪ 16.63	$ 4.5	₪ 16.53		₪ 16.76
Fair value of options (in Dollars) | $	$ 65		$ 5.7		$ 108		$ 71
Exercise prices for share option (in New Shekels per share) | ₪ / shares								₪ 4.6
Board of Directors [Member]
Significant Events in the Reporting Period (Details) [Line Items]
Option granted					147,000
Chief Executive Officer [Member]
Significant Events in the Reporting Period (Details) [Line Items]
Option granted					147,000

Operating Segments (Details)

Operating Segments (Details)	3 Months Ended
	Mar. 31, 2023
Operating Segments [Abstract]
Operating segment	2

Operating Segments (Details) -

Operating Segments (Details) - Schedule of reporting on operating segments - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Operating Segments (Details) - Schedule of reporting on operating segments [Line Items]
Revenues	$ 30,710	$ 28,093	$ 129,339
Gross profit	11,839	11,302	46,703
Unallocated corporate expenses	(11,550)	(11,056)	(42,171)
Finance expenses, net	(2,085)	(2,033)	(6,791)
Income before taxes on income	(1,796)	(1,787)	(2,259)
Proprietary Products [Member]
Operating Segments (Details) - Schedule of reporting on operating segments [Line Items]
Revenues	24,061	23,011	102,598
Gross profit	10,837	10,562	44,369
Distribution [Member]
Operating Segments (Details) - Schedule of reporting on operating segments [Line Items]
Revenues	6,649	5,082	26,741
Gross profit	$ 1,002	$ 740	$ 2,334

Operating Segments (Details) _2

Operating Segments (Details) - Schedule of reporting on operating segments geographic region - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Schedule of Reporting on Operating Segments Geographic Region [Abstract]
Total	$ 30,710	$ 28,093	$ 129,338
Proprietary Products [Member]
Schedule of Reporting on Operating Segments Geographic Region [Abstract]
Proprietary Products	24,061	23,011	102,597
Distribution [Member]
Schedule of Reporting on Operating Segments Geographic Region [Abstract]
Distribution	6,649	5,082	26,741
U.S.A and North America [Member]
Schedule of Reporting on Operating Segments Geographic Region [Abstract]
Total	16,830	16,951	75,851
U.S.A and North America [Member] | Proprietary Products [Member]
Schedule of Reporting on Operating Segments Geographic Region [Abstract]
Proprietary Products	16,830	16,951	75,851
U.S.A and North America [Member] | Distribution [Member]
Schedule of Reporting on Operating Segments Geographic Region [Abstract]
Distribution
Israel [Member]
Schedule of Reporting on Operating Segments Geographic Region [Abstract]
Total	7,643	6,709	32,031
Israel [Member] | Proprietary Products [Member]
Schedule of Reporting on Operating Segments Geographic Region [Abstract]
Proprietary Products	994	1,627	5,290
Israel [Member] | Distribution [Member]
Schedule of Reporting on Operating Segments Geographic Region [Abstract]
Distribution	6,649	5,082	26,741
Europe [Member]
Schedule of Reporting on Operating Segments Geographic Region [Abstract]
Total	3,334	1,052	5,277
Europe [Member] | Proprietary Products [Member]
Schedule of Reporting on Operating Segments Geographic Region [Abstract]
Proprietary Products	3,334	1,052	5,277
Europe [Member] | Distribution [Member]
Schedule of Reporting on Operating Segments Geographic Region [Abstract]
Distribution
Latin America [Member]
Schedule of Reporting on Operating Segments Geographic Region [Abstract]
Total	1,316	2,030	11,293
Latin America [Member] | Proprietary Products [Member]
Schedule of Reporting on Operating Segments Geographic Region [Abstract]
Proprietary Products	1,316	2,030	11,293
Latin America [Member] | Distribution [Member]
Schedule of Reporting on Operating Segments Geographic Region [Abstract]
Distribution
Asia [Member]
Schedule of Reporting on Operating Segments Geographic Region [Abstract]
Total	1,550	984	4,581
Asia [Member] | Proprietary Products [Member]
Schedule of Reporting on Operating Segments Geographic Region [Abstract]
Proprietary Products	1,550	984	4,581
Asia [Member] | Distribution [Member]
Schedule of Reporting on Operating Segments Geographic Region [Abstract]
Distribution
Others [Member]
Schedule of Reporting on Operating Segments Geographic Region [Abstract]
Total	38	367	305
Others [Member] | Proprietary Products [Member]
Schedule of Reporting on Operating Segments Geographic Region [Abstract]
Proprietary Products	38	367	305
Others [Member] | Distribution [Member]
Schedule of Reporting on Operating Segments Geographic Region [Abstract]
Distribution

Financial Instruments (Details)

Financial Instruments (Details) - Schedule of financial assets (liabilities) measured at fair value - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Level 1 [Member]
Financial Instruments (Details) - Schedule of financial assets (liabilities) measured at fair value [Line Items]
Derivatives instruments
Contingent consideration
Level 2 [Member]
Financial Instruments (Details) - Schedule of financial assets (liabilities) measured at fair value [Line Items]
Derivatives instruments	(91)	(92)	(51)
Contingent consideration
Level 3 [Member]
Financial Instruments (Details) - Schedule of financial assets (liabilities) measured at fair value [Line Items]
Derivatives instruments
Contingent consideration	$ (24,115)	$ (23,534)	$ (22,251)