Note 4: - Fair value of financial instruments

The following tables set forth the fair value of the Company’s financial assets and liabilities measured at fair value as of:

	December 31, 2024
	Level 1		Level 2		Level 3
Cash and cash equivalents:
Cash	$	59,732	$	-	$	-
Money market funds		69,144		-		-
Deposits		4,596		-		-
Short-term Bank deposits		144,843		-		-
Restricted deposits		1,330		-		-
Marketable securities		-		410,956		-
Asset derivatives (included in other receivables)		-		1,413		-
Earn-out		-		-		(12,118	)
Total	$	279,645	$	412,369	$	(12,118	)

The following table sets forth a summary of the changes in the fair value of the earn-out:

	Fair value
Fair value as of December 31, 2023	$	-
Acquisition of AutoDS (Note 3)		(14,116	)
Payment		5,200
Change in fair value		(3,202	)
Fair value as of December 31, 2024	$	(12,118	)

The inputs and assumptions that were used in the earn-out valuations as of the acquisition date related to volatility ranged from 10% to 19%.

The following tables set forth the fair value of the Company’s financial assets and liabilities measured at fair value as of:

	December 31, 2023
	Level 1		Level 2			Level 3
Cash and cash equivalents:
Cash	$	99,293	$	-		$	-
Money market funds		79,621		-			-
Deposits		4,760		-			-
Bank deposits		85,893		-			-
Restricted deposits		1,299		-			-
Marketable securities		-		476,138			-
Asset derivatives (located in other receivables)		-		971			-
Liability derivatives (located in other account payables and accrued expenses)		-		(87	)		-
Total	$	270,866	$	477,022		$	-

The fair value of other financial instruments included in working capital and other non-current assets and liabilities approximate their carrying value.

As of December 31, 2024, the total estimated fair value of the convertible notes was approximately $437,575. The fair value of the convertible notes is considered to be Level 2 within the fair value hierarchy and was determined based on the quoted price of the convertible notes in an over-the-counter market.