SEGMENT REPORTING |
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| Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SEGMENT REPORTING | NOTE 23 – SEGMENT REPORTING
This segment’s structure reflects the financial information and reports used by the Company’s management, specifically its chief operating decision maker (“CODM”), to make decisions regarding the Company’s business, including resource allocations and performance assessments, as well as the current operating focus in compliance with ASC 280, Segment Reporting. The Company’s reportable segments are not aggregated.
The Company reports segment information based on the management approach, which designates the internal reporting used by the Chief Operating Decision Maker (“CODM”), the Company’s Chief Executive Officer and the Chairman of the Board, for making decisions and assessing performance as the source of the Company’s reportable segments. The CODM allocate resources and assesses the performance of each operating segment based on potential business opportunities, historical and potential future sales and operating expenses.
As of December 31, 2024, the Company had two reportable segments: (i) Pathogen prevention and prolong shelf life, and (ii) the N2O emissions Global warming solutions. The Pathogen prevention operating segment consisted of Save Food Ltd. and the Global warming solutions operating segment consisted of NTWO OFF Ltd.
As of December 31, 2025, the Company no longer operates in the N₂O emissions Global warming solutions segment, following the sale of NTWO OFF Ltd. in April 2025. Accordingly, this activity has been classified as a discontinued operation in accordance with ASC 205-20 and is excluded from continuing operations for all periods presented. In addition, Save Foods Ltd.’s operations were classified as discontinued operations as the Company is committed to a plan to sell the subsidiary and classified its assets and liabilities as held for sale as of December 31, 2025. The disposal represents a strategic shift that has a major effect on the Company’s operations and financial results. As a result of the disposal of NTWO OFF Ltd., the classification of Save Foods Ltd.’s operations as discontinued operations, and the acquisition of MitoCareX in October 2025, the Company reassessed its operating and reportable segments in accordance with ASC 280, Segment Reporting. As a result, the Company determined that it has two reportable segments as of December 31, 2025: (i) Biotechnology activity, and (ii) Renewable energy projects. The Biotechnology operating segment consists of MitoCareX from the acquisition date, and the Renewable energy projects operating segment consists of NITO Renewable Energy, Inc. and Solar photovoltaic joint venture project.
The CODM evaluates performance and allocates resources based primarily on segment operating loss. Prior period segment information has been recast to conform to the current year presentation.
NEXENTIS TECHNOLOGIES INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (USD in thousands, except share and per share data)
NOTE 23 – SEGMENT REPORTING (continue)
The following table presents information about the Company’s reportable segments for the years ended December 31, 2025 and 2024:
The following table presents the locations of the Company’s long-lived assets as of December 31, 2025 and 2024:
NEXENTIS TECHNOLOGIES INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (USD in thousands, except share and per share data)
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