Kamada (KMDA) 6-K 8 May 24 Report of Foreign Private Issuer Financial data

Document And Entity Information

Document And Entity Information	3 Months Ended
	Mar. 31, 2024
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, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity File Number	001-35948

Condensed Consolidated Interim

Condensed Consolidated Interim Statements of Financial Position - USD ($)	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Current Assets
Cash and cash equivalents	$ 48,194	$ 55,641	$ 27,121
Trade receivables, net	18,855	19,877	20,925
Other accounts receivables	6,411	5,965	3,603
Inventories	84,348	88,479	79,754
Total Current Assets	157,808	169,962	131,403
Non-Current Assets
Property, plant and equipment, net	30,727	28,224	26,496
Right-of-use assets	7,632	7,761	5,836
Intangible assets, Goodwill and other long-term assets	138,623	140,465	145,305
Contract assets	8,384	8,495	7,755
Total Non-Current Assets	185,366	184,945	185,392
Total Assets	343,174	354,907	316,795
Current Liabilities
Current maturities of bank loans			4,444
Current maturities of lease liabilities	1,467	1,384	1,438
Current maturities of other long term liabilities	12,980	14,996	29,414
Trade payables	16,492	24,804	26,210
Other accounts payables	6,210	8,261	7,350
Deferred revenues	26	148	419
Total Current Liabilities	37,175	49,593	69,275
Non-Current Liabilities
Bank loans			11,852
Lease liabilities	7,278	7,438	4,992
Contingent consideration	16,760	18,855	18,115
Other long-term liabilities	34,842	34,379	37,280
Employee benefit liabilities, net	609	621	473
Total Non-Current Liabilities	59,489	61,293	72,712
Shareholder’s Equity
Ordinary shares	15,022	15,021	11,736
Additional paid in capital net	266,183	265,848	210,665
Capital reserve due to translation to presentation currency	(3,490)	(3,490)	(3,490)
Capital reserve from hedges	12	140	(99)
Capital reserve from share-based payments	6,336	6,427	5,750
Capital reserve from employee benefits	282	275	539
Accumulated deficit	(37,835)	(40,200)	(50,293)
Total Shareholder’s Equity	246,510	244,021	174,808
Total Liabilities and Shareholder’s Equity	$ 343,174	$ 354,907	$ 316,795

Condensed Consolidated Interi_2

Condensed Consolidated Interim Statements of Profit or Loss and Other Comprehensive Income - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Income Statement [Abstract]
Revenues from proprietary products	$ 33,758	$ 24,061	$ 115,458
Revenues from distribution	3,978	6,649	27,061
Total revenues	37,736	30,710	142,519
Cost of revenues from proprietary products	17,620	13,224	63,342
Cost of revenues from distribution	3,365	5,647	23,687
Total cost of revenues	20,985	18,871	87,029
Gross profit	16,751	11,839	55,490
Research and development expenses	4,295	3,231	13,933
Selling and marketing expenses	4,631	3,922	16,193
General and administrative expenses	3,786	3,418	14,381
Other expenses		979	919
Operating income (loss)	4,039	289	10,064
Financial income	280	25	588
Income (expenses) in respect of currency exchange differences and derivatives instruments, net	124	151	55
Financial Income (expense) in respect of contingent consideration and other long- term liabilities.	(1,845)	(1,761)	(980)
Financial expenses	(159)	(500)	(1,298)
Income before tax on income	2,439	(1,796)	8,429
Taxes on income	74	13	145
Net Income (loss)	2,365	(1,809)	8,284
Other Comprehensive Income (loss):
Gain (loss) on cash flow hedges	(71)	(156)	(186)
Net amounts transferred to the statement of profit or loss for cash flow hedges	(57)	145	414
Items that will not be reclassified to profit or loss in subsequent periods:
Remeasurement gain (loss) from defined benefit plan	7	191	(73)
Total comprehensive income (loss)	$ 2,244	$ (1,629)	$ 8,439
Earnings per share attributable to equity holders of the Company:
Basic net earnings per share (in Dollars per share)	$ 0.04	$ (0.04)	$ 0.17
Diluted net earnings per share (in Dollars per share)	$ 0.04	$ (0.04)	$ 0.15

Condensed Consolidated Interi_3

Condensed Consolidated Interim Statements of Changes in Equity - USD ($)	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, 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
Balance at Dec. 31, 2022	11,734	210,495	(3,490)	(88)	5,505	348	(48,484)	176,020
Net income							8,284	8,284
Other comprehensive income (loss)				228		(73)		155
Total comprehensive income (loss)				228		(73)	8,284	8,439
Exercise and forfeiture of share-based payment into shares	4	405			(405)			4
Issuance of shares	3,283	54,948						58,231
Cost of share-based payment						1,327		1,327
Balance at Dec. 31, 2023	15,021	265,848	(3,490)	140	6,427	275	(40,200)	244,021
Net income							2,365	2,365
Other comprehensive income (loss)				(128)		7		(121)
Total comprehensive income (loss)				(128)		7	2,365	2,244
Exercise and forfeiture of share-based payment into shares	1	335			(335)			1
Cost of share-based payment					244			244
Balance at Mar. 31, 2024	$ 15,022	$ 266,183	$ (3,490)	$ 12	$ 6,336	$ 282	$ (37,835)	$ 246,510

Condensed Consolidated Interi_4

Condensed Consolidated Interim Statements of Cash Flows - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Cash Flows from Operating Activities
Net income (loss)	$ 2,365	$ (1,809)	$ 8,284
Adjustments to the profit or loss items:
Depreciation and amortization	3,237	3,123	12,714
Financial expenses (income), net	1,600	2,085	1,635
Cost of share-based payment	241	415	1,314
Taxes on income	74	13	145
Loss (gain) from sale of property and equipment		(22)	(5)
Change in employee benefit liabilities, net	(4)	(8)	(125)
Adjustments to the profit or loss items	5,148	5,606	15,678
Changes in asset and liability items:
Decrease (increase) in trade receivables, net	610	6,306	7,835
Decrease (increase) in other accounts receivables	(516)	1,362	(1,150)
Decrease (increase) in inventories	4,131	(10,970)	(19,694)
Decrease (increase) in deferred expenses	112	3,554	2,814
Decrease (increase) in trade payables	(8,785)	(6,712)	(8,885)
Decrease (increase) in other accounts payables	(2,051)	(238)	765
Decrease (increase) in deferred revenues	(122)	384	113
Total Changes in asset and liability	(6,621)	(6,314)	(18,202)
Cash received (paid) during the period for:
Interest paid	(129)	(341)	(1,228)
Interest received	280	25
Taxes paid	(23)	(18)	(217)
Cash received (paid) during the year	128	(334)	(1,445)
Net cash provided by (used in) operating activities	1,020	(2,851)	4,315
Cash Flows from Investing Activities
Purchase of property and equipment and intangible assets	(2,682)	(1,117)	(5,850)
Proceeds from sale of property and equipment		24	7
Net cash provided by (used in) investing activities	(2,682)	(1,093)	(5,843)
Cash Flows from Financing Activities
Proceeds from exercise of share base payments	1	1	4
Proceeds from issuance of ordinary shares, net			58,231
Repayment of lease liabilities	(244)	(271)	(850)
Repayment of long-term loans		(1,111)	(17,407)
Repayment of other long-term liabilities	(5,496)	(1,500)	(17,300)
Net cash provided by (used in) financing activities	(5,739)	(2,881)	22,678
Exchange differences on balances of cash and cash equivalent	(46)	(312)	233
Increase (decrease) in cash and cash equivalents	(7,447)	(7,137)	21,383
Cash and cash equivalents at the beginning of the period	55,641	34,258	34,258
Cash and cash equivalents at the end of the period	48,194	27,121	55,641
Significant non-cash transactions
Right-of-use asset recognized with corresponding lease liability	306	3,580	6,546
Purchase of property and equipment and Intangible assets	$ 905	$ 292	$ 646

General

General	3 Months Ended
	Mar. 31, 2024
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 KEDRAB®, CYTOGAM®, VARIZIG®, WINRHO SDF®, 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 in addition have eleven biosimilar products in its Israeli distribution portfolio, which, subject to European Medicines Agency (EMA) and 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, which currently specializes in the collection of hyper-immune plasma used in the manufacture of KAMRHO (D), KAMRAB and KEDRAB. 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. 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 18 in our annual Financial report for further details on the engagement with Takeda. The Company’s ordinary shares are listed for trading on the Tel Aviv Stock Exchange and the NASDAQ Global Select Market. FIMI Opportunity Funds (“FIMI”), the leading private equity firm in Israel beneficially owns approximately 38% of the Company’s outstanding ordinary shares and is a controlling shareholder of the Company; within the meaning of the Israeli Companies Law, 1999. Refer to Note 20 for further details and Item 7 within the Company annual reports on Form 20-F.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
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. Implementation of new accounting standards: 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. The amendment and subsequent amendment are applicable retrospectively, including an amendment to comparative data. As of March 31, 2024, the Company does not have impact on its financial statement.

Significant Events in the Repor

Significant Events in the Reporting Period	3 Months Ended
	Mar. 31, 2024
Significant Events in the Reporting Period [Abstract]
Significant Events in the Reporting Period	Note 3:- Significant events in the reporting period On February 29, 2024, the Company’s Board of Directors approved the grant of options to purchase up to 27,468 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: - 20,800 options to purchase the ordinary shares of the Company, at an exercise price of NIS 23.91 (USD 6.67) per share. The fair value of the options calculated on the date of grant using the binomial option valuation model was estimated at $48 thousands. Under the US Appendix: - 6,668 options to purchase the ordinary shares of the Company, at an exercise price of USD 6.62 per share. The fair value of the options was estimated on the date of grant was estimated at $18 thousands.

Operating Segments

Operating Segments	3 Months Ended
	Mar. 31, 2024
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, 2024 Revenues $ 33,758 $ 3,978 $ 37,736 Gross profit $ 16,138 $ 613 $ 16,751 Unallocated corporate expenses (12,712 ) Finance expenses, net (1,600 ) Income before taxes on income $ 2,439 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 Audited Year Ended December 31, 2023 Revenues $ 115,458 $ 27,061 $ 142,519 Gross profit $ 52,116 $ 3,374 $ 55,490 Unallocated corporate expenses (45,426 ) Finance expenses, net (1,635 ) Income before taxes on income $ 8,429 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 $ 25,849 $ - $ 25,849 Israel 1,832 3,978 5,810 Canada 3,281 - 3,281 Europe 246 - 246 Latin America 1,116 - 1,116 Asia 1,434 - 1,434 $ 33,758 $ 3,978 $ 37,736 Three months period ended Proprietary Distribution Total U.S Dollars in thousands Unaudited Geographical markets U.S.A $ 13,598 $ - $ 13,598 Israel 994 6,649 7,643 Canada 3,232 - 3,232 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 Year ended December 31, 2023 Proprietary Distribution Total U.S Dollars in thousands Audited Geographical markets U.S.A $ 73,741 $ - $ 73,741 Israel 4,236 27,060 31,296 Canada 11,162 - 11,162 Europe 7,088 - 7,088 Latin America 12,928 - 12,928 Asia 6,147 - 6,147 Others 157 - 157 $ 115,459 $ 27,060 $ 142,519

Financial Instruments

Financial Instruments	3 Months Ended
	Mar. 31, 2024
Financial Instruments [Abstract]
Financial Instruments	Note 5:- Financial Instruments 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, 2024 Derivatives instruments $ - $ 11 $ - Contingent consideration $ - $ - $ (19,453 ) March 31, 2023 Derivatives instruments - $ (91 ) $ - Contingent consideration $ - $ - $ (24,115 ) December 31, 2023 Derivatives instruments $ - $ 149 $ - Contingent consideration $ - $ - $ (21,855 ) During the three months ended on March 31, 2024 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.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent events [Abstract]
Subsequent events	Note 6:- Subsequent events On May 2, 2024, our U.S. subsidiary Kamada Plasma LLC entered into a lease agreement for a 11,100 square feet premises in San Antonio, Texas to be used as a plasma collection center. The lease is in effect for an initial period of ten years commencing on the rent commencement date which will be the earlier of (a) opening for business in the facility or (b) 180 days following receipt of building permits. The lease agreement may be extended for three consecutive periods of five years each, upon at least 120 days prior written notice.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	3 Months Ended
	Mar. 31, 2024
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. Implementation of new accounting standards: 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. The amendment and subsequent amendment are applicable retrospectively, including an amendment to comparative data. As of March 31, 2024, the Company does not have impact on its financial statement.

Operating Segments (Tables)

Operating Segments (Tables)	3 Months Ended
	Mar. 31, 2024
Operating Segments [Abstract]
Schedule of Reporting on Operating Segments	Reporting on operating segments: Proprietary Distribution Total U.S Dollars in thousands Unaudited Three months period ended March 31, 2024 Revenues $ 33,758 $ 3,978 $ 37,736 Gross profit $ 16,138 $ 613 $ 16,751 Unallocated corporate expenses (12,712 ) Finance expenses, net (1,600 ) Income before taxes on income $ 2,439 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 Audited Year Ended December 31, 2023 Revenues $ 115,458 $ 27,061 $ 142,519 Gross profit $ 52,116 $ 3,374 $ 55,490 Unallocated corporate expenses (45,426 ) Finance expenses, net (1,635 ) Income before taxes on income $ 8,429
Schedule of Reporting on Operating Segments Geographic Region	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 $ 25,849 $ - $ 25,849 Israel 1,832 3,978 5,810 Canada 3,281 - 3,281 Europe 246 - 246 Latin America 1,116 - 1,116 Asia 1,434 - 1,434 $ 33,758 $ 3,978 $ 37,736 Three months period ended Proprietary Distribution Total U.S Dollars in thousands Unaudited Geographical markets U.S.A $ 13,598 $ - $ 13,598 Israel 994 6,649 7,643 Canada 3,232 - 3,232 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 Year ended December 31, 2023 Proprietary Distribution Total U.S Dollars in thousands Audited Geographical markets U.S.A $ 73,741 $ - $ 73,741 Israel 4,236 27,060 31,296 Canada 11,162 - 11,162 Europe 7,088 - 7,088 Latin America 12,928 - 12,928 Asia 6,147 - 6,147 Others 157 - 157 $ 115,459 $ 27,060 $ 142,519

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2024
Financial Instruments [Abstract]
Schedule of Financial Assets (Liabilities) Measured at Fair Value	Financial assets (liabilities) measured at fair value Level 1 Level 2 Level 3 U.S Dollars in thousands March 31, 2024 Derivatives instruments $ - $ 11 $ - Contingent consideration $ - $ - $ (19,453 ) March 31, 2023 Derivatives instruments - $ (91 ) $ - Contingent consideration $ - $ - $ (24,115 ) December 31, 2023 Derivatives instruments $ - $ 149 $ - Contingent consideration $ - $ - $ (21,855 )

General (Details)

General (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
General [Line Items]
Interest rate	12%
Annual amount (in Dollars)	$ 5
Percentage of outstanding ordinary shares	38%
Takeda Pharmaceuticals Company Limited [Member]
General [Line Items]
Interest rate	6%

Significant Events in the Rep_2

Significant Events in the Reporting Period (Details) $ / shares in Units, $ in Thousands	Feb. 29, 2024 USD ($) $ / shares shares	Feb. 29, 2024 USD ($) ₪ / shares shares
Significant Events in the Reporting Period [Line Items]
Option granted	6,668	6,668
Exercise price per share | $ / shares	$ 6.62
Fair value of options (in Dollars) | $	$ 18	$ 18
Board of Directors [Member]
Significant Events in the Reporting Period [Line Items]
Option granted	27,468	27,468
Israeli Share Option Plan [Member]
Significant Events in the Reporting Period [Line Items]
Option granted	20,800	20,800
Exercise price per share | (per share)	$ 6.67	$ 23.91
Fair value of options (in Dollars) | $	$ 48	$ 48

Operating Segments (Details)

Operating Segments (Details)	3 Months Ended
	Mar. 31, 2024
Operating Segments [Abstract]
Number of operating segments	2

Operating Segments (Details) -

Operating Segments (Details) - Schedule of Reporting on Operating Segments - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Schedule of Reporting on Operating Segments [Line Items]
Revenues	$ 37,736	$ 30,710	$ 142,519
Gross profit	16,751	11,839	55,490
Unallocated corporate expenses	(12,712)	(11,550)	(45,426)
Finance expenses, net	(1,600)	(2,085)	(1,635)
Income before taxes on income	2,439	(1,796)	8,429
Distribution [Member] | Proprietary Products [Member]
Schedule of Reporting on Operating Segments [Line Items]
Revenues	33,758	24,061	115,458
Gross profit	16,138	10,837	52,116
Distribution [Member] | Distribution [Member]
Schedule of Reporting on Operating Segments [Line Items]
Revenues	3,978	6,649	27,061
Gross profit	$ 613	$ 1,002	$ 3,374

Operating Segments (Details) _2

Operating Segments (Details) - Schedule of Reporting on Operating Segments Geographic Region - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Total	$ 37,736	$ 30,710	$ 142,519
U.S.A and North America [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Total	25,849	13,598	73,741
Israel [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Total	5,810	7,643	31,296
Canada [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Total	3,281	3,232	11,162
Europe [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Total	246	3,334	7,088
Latin America [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Total	1,116	1,316	12,928
Asia [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Total	1,434	1,550	6,147
Others [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Total		38	157
Proprietary Products [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Proprietary Products	33,758	24,061	115,459
Proprietary Products [Member] | U.S.A and North America [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Proprietary Products	25,849	13,598	73,741
Proprietary Products [Member] | Israel [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Proprietary Products	1,832	994	4,236
Proprietary Products [Member] | Canada [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Proprietary Products	3,281	3,232	11,162
Proprietary Products [Member] | Europe [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Proprietary Products	246	3,334	7,088
Proprietary Products [Member] | Latin America [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Proprietary Products	1,116	1,316	12,928
Proprietary Products [Member] | Asia [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Proprietary Products	1,434	1,550	6,147
Proprietary Products [Member] | Others [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Proprietary Products		38	157
Distribution [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Distribution	3,978	6,649	27,060
Distribution [Member] | U.S.A and North America [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Distribution
Distribution [Member] | Israel [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Distribution	3,978	6,649	27,060
Distribution [Member] | Canada [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Distribution
Distribution [Member] | Europe [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Distribution
Distribution [Member] | Latin America [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Distribution
Distribution [Member] | Asia [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Distribution
Distribution [Member] | Others [Member]
Schedule of Reporting on Operating Segments Geographic Region [Line Items]
Distribution

Financial Instruments (Details)

Financial Instruments (Details) - Schedule of Financial Assets (Liabilities) Measured at Fair Value - USD ($)	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Level 1 [Member]
Schedule of Financial Assets (Liabilities) Measured at Fair Value [Line Items]
Derivatives instruments
Contingent consideration
Level 2 [Member]
Schedule of Financial Assets (Liabilities) Measured at Fair Value [Line Items]
Derivatives instruments	11	149	(91)
Contingent consideration
Level 3 [Member]
Schedule of Financial Assets (Liabilities) Measured at Fair Value [Line Items]
Derivatives instruments
Contingent consideration	$ (19,453)	$ (21,855)	$ (24,115)

Subsequent Events (Details)

Subsequent Events (Details)	May 02, 2024 m²
Subsequent Events [Member]
Subsequent Events (Details) [Line Items]
Square feet premises in San Antonio, Texas	11,100