The company released results for the first half of 2024 which were severely impacted by the slowdown of economic activity in Israel. The company announced a small acquisition (no upfront cost) of a product line from a business that it attempted to acquire last December. We believe this could be a nice addition to the company's driver safety suite of products. Estimating the total number of ADSs outstanding remains a challenge as the company finances its losses with equity issuance. Our new valuation target of $0.52/ADS assumes that the company will continue this practice through 2025.
