Senstar Technologies (SNT) 6-K14 Nov 232023 Q2 Current report (foreign)Financial data

Company Profile

Document and Entity Information

Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2023
Entity Addresses [Line Items]
Entity Registrant Name	Senstar Technologies Ltd.
Entity Central Index Key	0000896494
Document Type	6-K
Document Period End Date	Jun. 30, 2023
Amendment Flag	false
Entity File Number	0-21388
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Entity Address, Address Line One	10th F. Gibor Sport Tower 7 Menachem Begin Road
Entity Address, City or Town	Ramat Gan
Entity Address, Postal Zip Code	5268102
Entity Address, Country	IL

CONDENSED INTERIM CONSOLIDATED

CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 10,485	$ 14,937
Short-term bank deposits	113	110
Restricted cash and deposits	1,332	5
Trade receivables, (net of allowance for credit losses of $93 and $103 as of June 30, 2023 and December 31, 2022, respectively)	8,617	9,973
Unbilled accounts receivable	7	350
Other accounts receivable and prepaid expenses	1,932	1,441
Inventories	9,546	8,443
Total current assets	32,032	35,259
LONG-TERM ASSETS:
Deferred tax assets	2,260	1,981
Operating lease right-of-use assets	885	987
Total long-term assets	3,145	2,968
PROPERTY AND EQUIPMENT, NET	1,627	1,651
INTANGIBLE ASSETS, NET	1,069	1,142
GOODWILL	11,062	10,866
Total assets	48,935	51,886
CURRENT LIABILITIES:
Trade payables	1,430	2,408
Customer advances	230	239
Deferred revenues	2,643	2,866
Other accounts payable and accrued expenses	4,212	4,749
Short-term operating lease liabilities	251	248
Total current liabilities	8,766	10,510
LONG-TERM LIABILITIES:
Deferred revenues	1,318	1,463
Deferred tax liabilities	852	865
Accrued severance pay	314	330
Long-term operating lease liabilities	652	757
Other long-term liabilities	261	274
Total long-term liabilities	3,397	3,689
COMMITMENTS AND CONTINGENT LIABILITIES
SHAREHOLDERS' EQUITY:
Ordinary shares of NIS 1 par value - Authorized: 39,748,000 shares at June 30, 2023 and December 31, 2022; Issued and outstanding: 23,309,987 shares at June 30, 2023 and December 31, 2022	6,799	6,799
Additional paid-in capital	30,504	30,503
Accumulated other comprehensive loss	(95)	(758)
Foreign currency translation adjustments (Company's standalone financial statements)	9,675	9,654
Accumulated deficit	(10,111)	(8,511)
Total shareholders' equity	36,772	37,687
Total liabilities and shareholders' equity	$ 48,935	$ 51,886

CONDENSED INTERIM CONSOLIDATE_2

CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS (Parentheticals) $ in Thousands	Jun. 30, 2023 ₪ / shares	Jun. 30, 2023 USD ($) shares	Dec. 31, 2022 ₪ / shares	Dec. 31, 2022 USD ($) shares
Statement of Financial Position [Abstract]
Allowance for credit losses \| $		$ 93		$ 103
Ordinary shares, par value per share \| ₪ / shares	₪ 1		₪ 1
Ordinary shares, shares authorized		39,748,000		39,748,000
Ordinary shares, shares issued		23,309,987		23,309,987
Ordinary shares, shares outstanding		23,309,987		23,309,987

CONDENSED INTERIM CONSOLIDATE_3

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenues	$ 14,886	$ 15,909
Cost of revenues	6,169	5,967
Gross profit	8,717	9,942
Operating expenses:
Research and development, net	2,075	2,182
Selling and marketing	5,071	4,519
General and administrative	3,221	3,806
Total operating expenses	10,367	10,507
Operating loss	(1,650)	(565)
Financial income (expenses), net	(34)	(348)
Loss before income taxes	(1,684)	(913)
Tax benefit	(84)	(244)
Net loss from continuing operations	(1,600)	(669)
Net loss from discontinued operations	0	(264)
Net loss attributable to Senstar's shareholders	$ (1,600)	$ (933)
Basic and diluted net loss per share:
Basic net loss per share, Continuing operations	$ (0.07)	$ (0.03)
Basic net loss per share, Discontinued operations	0	(0.01)
Diluted net loss per share, Continuing operations	(0.07)	(0.03)
Diluted net loss per share, Discontinued operations	0	(0.01)
Basic net loss per share	(0.07)	(0.04)
Diluted net loss per share	$ (0.07)	$ (0.04)

CONDENSED INTERIM CONSOLIDATE_4

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (1,600)	$ (933)
Foreign currency translation adjustments	663	(791)
Total other comprehensive income (loss)	663	(791)
Total comprehensive loss	(937)	(1,724)
Total comprehensive loss attributable to:
Senstar shareholders	(937)	(1,724)
Total comprehensive loss	$ (937)	$ (1,724)

CONDENSED INTERIM CONSOLIDATE_5

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Ordinary shares [Member]	Additional paid-in capital [Member]	Accumulated other comprehensive income (loss) [Member]	Foreign currency translation adjustment - the Company [Member]	Retained earnings (accumulated deficit) [Member]	Total
Balance at Dec. 31, 2021	$ 6,796	$ 30,394	$ 1,222	$ 9,687	$ (12,342)	$ 35,757
Balance, shares at Dec. 31, 2021	23,301,653
Issuance of shares upon exercise of employee stock options	$ 3	16	0	0	0	19
Issuance of shares upon exercise of employee stock options, shares	8,334
Stock-based compensation	$ 0	58	0	0	0	58
Foreign currency translation adjustments- the Company	0	0	0	78	0	78
Comprehensive income (loss):
Net loss	0	0	0	0	(933)	(933)
Foreign currency translation adjustments	0	0	(791)	0	0	(791)
Balance at Jun. 30, 2022	$ 6,799	30,468	431	9,765	(13,275)	34,188
Balance, shares at Jun. 30, 2022	23,309,987
Balance at Dec. 31, 2022	$ 6,799	30,503	(758)	9,654	(8,511)	$ 37,687
Balance, shares at Dec. 31, 2022	23,309,987					23,309,987
Stock-based compensation	$ 0	1	0	0	0	$ 1
Foreign currency translation adjustments- the Company	0	0	0	21	0	21
Comprehensive income (loss):
Net loss	0	0	0	0	(1,600)	(1,600)
Foreign currency translation adjustments	0	0	663	0	0	663
Balance at Jun. 30, 2023	$ 6,799	$ 30,504	$ (95)	$ 9,675	$ (10,111)	$ 36,772
Balance, shares at Jun. 30, 2023	23,309,987					23,309,987

CONDENSED INTERIM CONSOLIDATE_6

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net loss	$ (1,600)	$ (933)
Adjustments required to reconcile net income to net cash used in operating activities:
Depreciation and amortization	530	761
Loss on sale of property and equipment	15	0
Stock based compensation	1	58
Decrease (increase) in trade receivables, net	1,464	(2,456)
Decrease in unbilled accounts receivable	345	18
Increase in other accounts receivable and prepaid expenses	(486)	(372)
Increase in inventories	(889)	(1,797)
Decrease (increase) in deferred income taxes	(251)	11
Decrease in operating lease right-of-use assets	56	87
Decrease in operating lease liabilities	(56)	(84)
Increase (decrease) in trade payables	(1,010)	92
Decrease in other accounts payable and accrued expenses and deferred revenues	(918)	(2,471)
Decrease in customer advances	(11)	(126)
Net cash used in operating activities	(2,810)	(7,212)
Cash flows from investing activities:
Release of short-term and long-term bank deposits	0	1
Purchase of property and equipment	(182)	(68)
Asset acquisition of technology	(214)	0
Net cash used in investing activities	(396)	(67)
Cash flows from financing activities:
Proceeds from issuance of shares upon exercise of options to employees	0	19
Net cash provided by financing activities	0	19
Effect of exchange rate changes on cash and cash equivalents	81	(1,198)
Decrease in cash, cash equivalents and restricted cash	(3,125)	(8,458)
Cash, cash equivalents and restricted cash at the beginning of the period	14,937	26,397
Cash, cash equivalents and restricted cash from continuing operations at the end of the period	11,812	17,939
Supplemental disclosures of cash flows activities:
Cash and cash equivalents	10,485	17,939
Restricted cash	1,327	0
Total Cash, cash equivalents and restricted cash	11,812	17,939
Cash paid during the period for:
Interest	1	112
Income taxes	221	1,307
Significant non-cash transactions:
Right-of-use asset recognized with corresponding lease liability	$ 0	$ 34

GENERAL

GENERAL	6 Months Ended
GENERAL	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	NOTE 1:- GENERAL a. General: Senstar Technologies Ltd. (formerly: Magal Security Systems Ltd.) ("the Parent Company" or "Senstar") and its subsidiaries (together - "the Company") is a leading international provider of comprehensive physical, video, and access control security products and solutions. The Company offers comprehensive solutions for critical sites, which leverage its broad portfolio of homegrown PIDS (Perimeter Intrusion Detection Systems), advanced VMS (Video Management Software) with native IVA (Intelligent Video Analytics) security solutions, as well as access control products and technologies. b. On February 7, 2021, the Company entered into an agreement (the “Purchase Agreement”) with Aeronautics Ltd., a subsidiary of RAFAEL Advanced Defense Systems Ltd., to sell the Company’s Integrated Solutions Division (the “Projects Division”), representing substantially all of the Company’s Integrated Solutions segment for total consideration of $35 million in cash at closing. On June 30, 2021, the Company completed the sale. The divestiture of the Company’s Integrated Solutions Division represented a strategic shift in the Company's operations. Discontinued operation: Under ASC 205-20, "Discontinued Operation" when a component of an entity, as defined in ASC 205-20, has been disposed of or is classified as held for sale, the results of its operations, including the gain or loss on its component are classified as discontinued operations and the assets and liabilities of such component are classified as assets and liabilities attributed to discontinued operations; that is, provided that the operations, assets and liabilities and cash flows of the component have been eliminated from the Company’s consolidated operations and the Company will have no significant continuing involvement in the operations of the component. The following table presents the results of the discontinued operations for the six months ended June 30, 2023 and 2022, are presented below: Six months ended June 30, 2023 2022 Income (loss) after income taxes $ - $ - Capital loss from discontinued operation - (264 ) Net loss from discontinued operation $ - $ (264 ) The following table presents cash flows for discontinued operations: Six months ended June 30, 2023 2022 Net cash provided by discontinued operating activities $ 22 $ 123

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
SIGNIFICANT ACCOUNTING POLICIES	Jun. 30, 2023
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2:- SIGNIFICANT ACCOUNTING POLICIES a. Unaudited condensed interim consolidated financial statements: The accompanying unaudited condensed interim consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial information. In the opinion of management, the unaudited condensed interim consolidated financial statements include all adjustments of a normal recurring nature necessary for a fair presentation of the Company's consolidated financial statements. The balance sheets as of December 31, 2022 have been derived from the audited consolidated financial statements of the Company at that date but does not include all information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes for the year ended December 31, 2022, included in the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission ("SEC") on April 20, 2023. The significant accounting policies applied in the Company’s audited 2022 consolidated financial statements and notes thereto included in the Annual Report are applied consistently in these unaudited condensed interim consolidated financial statements. The Company’s interim period results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. The significant accounting policies disclosed in the Company’s audited 2022 consolidated financial statements and notes thereto have been applied consistently to these unaudited condensed interim consolidated financial statements. b. Use of estimates: The preparation of the unaudited condensed interim consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the financial statements and accompanying notes. Such management estimates and assumptions are related, but not limited to estimates used in determining values of goodwill and identifiable intangible assets, revenue recognition, allowances for credit losses, inventory write-offs, warranty provision, tax assets and tax positions, legal contingencies, amounts classified as discontinued operations and stock-based compensation costs. Actual results could differ from those estimates. c. Principles of consolidation: The unaudited condensed interim consolidated financial statements include the accounts of the Parent Company and its subsidiaries. Intercompany transactions and balances including profits from intercompany sales not yet realized outside the Company, have been eliminated upon consolidation. d. Concentrations of credit risk: Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, restricted cash, short-term and long-term bank deposits, trade receivables, unbilled accounts receivable and long-term trade receivables. As of June 30, 2023, $5,418 of the Company's cash and cash equivalents and restricted cash and short-term deposits were invested in major Israeli and U.S. banks, and approximately $6,512 were invested in other banks, mainly with the Royal Bank of Canada, Deutsche Bank and NatWest Bank. The Company is exposed to credit risk in the event of default by the financial institutions to the extent of the amounts recorded on the accompanying consolidated balance sheets exceed federally insured limits. Generally, these deposits may be redeemed upon demand and therefore, bear low risk. Trade receivables of the Company, as well as the unbilled accounts receivable, are primarily derived from sales to large and solid organizations and governmental authorities located mainly in the U.S., Canada, Europe and APAC. The Company performs ongoing credit evaluations of its customers. An allowance for credit losses is recognized with respect to those amounts that the Company has determined to be doubtful of collection. In certain circumstances, the Company may require letters of credit, other collateral or additional guarantees. e. Revenue recognition: Remaining performance obligations: Remaining performance obligations represent the future revenues expected to be recognized on firm orders received by the Company and are equivalent to the Company’s remaining performance obligations at the end of each period for a remaining period of more than a year. The Company's remaining performance obligations as of June 30, 2023 was $9.2 million, out of which the Company expects to recognize approximately 15% as revenue in the next twelve months, with the remainder to be recognized thereafter. Deferred revenues and customer advances: Deferred revenues and customer advances decreased by $0.4 million compared to the beginning balance of $4.6 million as of January 1, 2023. The decrease was primarily as a result of $2.1 million of recognized revenues from deferred revenues and customer advances. This was offset by $1.6 million of new unearned amounts under contracts as well as $0.1 million of exchange rate impact. The above resulted in an ending balance of $4.2 million as of June 30, 2023. Unbilled accounts receivable: Unbilled accounts receivable decreased by $0.3 million compared to the beginning balance of $0.3 million as of January 1, 2023. The increase was primarily due to $0.1 million of recognized revenues in advance of contractual billing during the year. This was offset by a decrease of $0.4 million as a result of billings. The above resulted in a balance of $7 as of June 30, 2023. f. New accounting pronouncements not yet effective: As of June 30, 2023, there are no recently issued accounting pronouncements that have not yet been adopted that are expected to have a material effect on the Company’s unaudited condensed interim consolidated financial statements.

INVENTORIES

INVENTORIES	6 Months Ended
INVENTORIES	Jun. 30, 2023
Inventory Disclosure [Abstract]
INVENTORIES	NOTE 3:- INVENTORIES June 30, 2023 December 31, 2022 Unaudited Raw materials $ 2,723 $ 2,105 Work in progress 623 911 Finished products 6,200 5,427 $ 9,546 $ 8,443 During the six months ended June 30, 2023 and the year ended December 31, 2022, the Company recorded inventory write-offs in the amounts of $3 and $21, respectively. Such write-offs were included in cost of revenues.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	6 Months Ended
COMMITMENTS AND CONTINGENT LIABILITIES	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	NOTE 4:- COMMITMENTS AND CONTINGENT LIABILITIES a. Guarantees: As of June 30, 2023 and December 31, 2022, the Company had credit lines of approximately $2,017 and $2,117, out of which $1,487 and $1,595 were utilized for bank performance guarantees, advance payment guarantees and bid bond guarantees from several banks, respectively, mainly in Israel and Canada. b. Restricted deposit: In connection with a project in Canada, the Company was required to maintain restricted deposits in order to guarantee the Company's performance under that project in the amount of $ 1,327. The deposits for the project bear an average interest rate of 4.7%. c. Legal proceedings: 1) The Company is subject to legal proceedings arising in the normal course of business. Based on the advice of legal counsel, management believes that these proceedings will not have a material adverse effect on the Company's financial position or results of operations. 2) In February 2019, Magal Mexico (the Company’s former subsidiary whose shares were sold as part of the Integrated Solutions Division sale (see Note 1b)) initiated a dispute procedure with the Mexican tax authorities requesting the recognition of deduction of certain expenses as claimed by the former Mexican subsidiary in its annual tax filings. In July 2019, the tax authorities denied the former Mexican subsidiary position. On September 11, 2019, Magal Mexico filed a nullity claim (administrative trial) against the resolution of the Mexican Internal Revenue Service (Servicio de Administración Tributaria) that had requested the former subsidiary to correct its tax situation by virtue that certain invoices did not produce any legal effect. The claim was admitted and resolved in favor of the former subsidiary on August 5, 2020. This resolution was then challenged by the tax authority, through a motion of review before the Collegiate Courts of Circuit; which resolved the appeal by the tax authority unfavorably to the former Mexican subsidiary, on June 4, 2021. The Collegiate Court had confirmed the legality of the tax resolution and had directed the lower court to issue a similar resolution which was issued on July 2, 2021, whereby the lower court had ruled in favor of the Tax Authority. On September 21, 2021, the former Mexican subsidiary appealed the resolution by the lower court before the Collegiate Courts of Circuit. In October 2021, the Collegiate Court admitted the appeal, however, on March 14, 2022, the Court ruled in favor of the Tax Authority, deciding to confirm the challenged resolution. On March 25, 2022, the former Mexican subsidiary appealed the Collegiate Court's decision before the Mexican Supreme Court of Justice. On May 17, 2022, the Mexican Court rejected the former Mexican subsidiary's annulment claim regarding the Mexican Tax authority’s decision not to allow the deduction of expenses and credit of VAT by the former Mexican subsidiary. According to the Purchase Agreement of the Integrated Solutions division dated February 7, 2021, the Company was financially liable for the outcome of this dispute and has to indemnify Aeronautics Ltd. according to the final tax resolution in this matter. On July 19, 2022, Aeronautics Ltd. and Magal Security Systems Ltd. (formerly Onlishel Ltd.) (collectively for this section the "Buyer"), and the Company agreed that the Company will reimburse the Buyer in the amount of $4,250 (approximately 86,855 thousands Mexican Peso, in accordance with the then USD-Mexican Peso exchange rate) (the "Tax Payment Amount"), as provided in the closing protocol dated June 30, 2021 to the Purchase Agreement. The Buyer committed to pay the Tax Payment Amount to the relevant Mexican tax authorities. c. Royalty commitments to the Innovation Authority (formerly the Office of the Chief Scientist) of the Israeli Ministry of Economy, or Innovation Authority: Under the research and development agreements between the Company and the Innovation Authority, the Company is required to pay royalties at the rate of 3.5% of revenues derived from sales of products developed with funds provided by the Innovation Authority and ancillary services, up to an amount equal to 100% of the Innovation Authority research and development grants received, linked to the U.S. dollars plus interest on the unpaid amount received based on the 12-month LIBOR rate applicable to U.S. dollar deposits. The obligation to pay these royalties is contingent on actual sales of the products and in the absence of such sales no payment is required. On June 30, 2021, upon closing of the sale of the Company's Integrated Solutions Division to Aeronautics Ltd., the Company's rights and obligations concerning some of its Innovation Authority grants were assumed by Aeronautics Ltd. As of June 30, 2023, the Company had remaining contingent obligations to pay approximately $600 in royalties not assumed by Aeronautics Ltd. The Company's obligations are contingent upon the unlikely event of future revenues associated with the technologies developed under the said grants. As an alternative, the Company may be required to pay royalties over the portion of the consideration attributed to the operation derived from the funds provided by the Innovation Authority, up to the maximum amount of the related funds received. Company's management estimated it to be in an immaterial amount.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	6 Months Ended
SHAREHOLDERS' EQUITY	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	NOTE 5:- SHAREHOLDERS' EQUITY a. Pertinent rights and privileges conferred by Ordinary shares: The Ordinary shares of the Company are listed on the NASDAQ Global Market. The Ordinary shares confer upon their holders the right to receive notice to participate and vote in the general meetings of the Company and the right to receive dividends, if declared. b. Issued and outstanding share capital: 23,309,987 Ordinary shares as of June 30, 2023 and December 31, 2022. c. Dividends: Dividends, will be declared and paid in U.S. dollars. Dividends paid to shareholders in Israel will be converted into NIS on the basis of the exchange rate prevailing at the date of payment.

BASIC AND DILUTED NET EARNINGS

BASIC AND DILUTED NET EARNINGS (LOSS) PER SHARE	6 Months Ended
BASIC AND DILUTED NET EARNINGS (LOSS) PER SHARE	Jun. 30, 2023
Earnings Per Share [Abstract]
BASIC AND DILUTED NET EARNINGS (LOSS) PER SHARE	NOTE 6:- BASIC AND DILUTED NET EARNINGS (LOSS) PER SHARE Six months ended June 30, 2023 2022 Numerator - continuing operations: Net loss from continuing operations attributable to Senstar shareholders $ (1,600 ) $ (669 ) Numerator - discontinued operations: Net loss from discontinued operations $ - $ (264 ) Denominator: Denominator for basic net loss per share weighted-average number of shares outstanding 23,309,987 23,305,981 Effect of dilutive securities: Employee stock options - - Denominator for diluted net loss per share - adjusted weighted average shares and assumed exercises 23,309,987 23,305,981

BALANCES AND TRANSACTIONS WITH

BALANCES AND TRANSACTIONS WITH RELATED PARTIES	6 Months Ended
BALANCES AND TRANSACTIONS WITH RELATED PARTIES	Jun. 30, 2023
Related Party Transactions [Abstract]
BALANCES AND TRANSACTIONS WITH RELATED PARTIES	NOTE 7:- BALANCES AND TRANSACTIONS WITH RELATED PARTIES Commencing October 1, 2014, the Company compensates its Executive Chairman of the Board for services provided to the Company. In addition to the directors' fees paid by the Company to all of its directors, the Company pays: (i) a monthly payment of approximately $4 for time devoted to such position; and (ii) an annual cash bonus of $30 that is payable only if the Company's net profit pursuant to its annual audited and consolidated financial statement exceeds $5,000. The annual cash bonus was payable commencing as of the 2015 fiscal year and will be paid, if earned, as set forth in the Compensation Policy.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
SEGMENT INFORMATION	Jun. 30, 2023
Segment Reporting [Abstract]
SEGMENT INFORMATION	NOTE 8:- SEGMENT INFORMATION Historically, the Company had two operating segments, which also represented its reportable segments. The Integrated Solutions Division (“Projects” segment) and Senstar Product division (“Products” segment). On June 30, 2021, the Projects segment was sold (see note 1b). Therefore, the results of the Company’s Projects segment were classified as discontinued operations in the Company’s consolidated statements of operations and thus excluded from both continuing operations and segment results for all periods presented. Accordingly, the Company now have one reportable segment with the change reflected in all periods presented. Geographical information: The following is a summary of revenues within geographic areas based on end customers’ location and long-lived assets: 1. Revenues: Six months ended June 30, 2023 2022 North America $ 7,727 $ 6,496 Europe 5,320 5,134 APAC 1,236 3,716 South and Latin America 553 422 Israel 48 50 Others 2 91 $ 14,886 $ 15,909 2. Long-lived assets: June 30, 2023 December 31, 2022 Unaudited Israel $ 119 $ 170 Europe 1,318 1,268 USA 1,774 1,764 Canada 11,381 11,375 Others 51 69 $ 14,643 $ 14,646 Long-lived assets include operating lease right-of-use assets, property and equipment, net, intangible assets, net and goodwill.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
SUBSEQUENT EVENTS	Jun. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9:- SUBSEQUENT EVENTS On September 26, 2023, the Company announced that it intends to move the corporate domicile of the Company to the Province of Ontario, Canada. The Company is currently incorporated under the laws of the State of Israel. The Company expects that the redomiciliation will have no material impact on how it conducts its day-to-day operations. The redomiciliation, which is subject to certain conditions, including shareholder approval, is expected to close in the first quarter of 2024.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jun. 30, 2023
Accounting Policies [Abstract]
Unaudited condensed interim consolidated financial statements	a. Unaudited condensed interim consolidated financial statements: The accompanying unaudited condensed interim consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") for interim financial information. In the opinion of management, the unaudited condensed interim consolidated financial statements include all adjustments of a normal recurring nature necessary for a fair presentation of the Company's consolidated financial statements. The balance sheets as of December 31, 2022 have been derived from the audited consolidated financial statements of the Company at that date but does not include all information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes for the year ended December 31, 2022, included in the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission ("SEC") on April 20, 2023. The significant accounting policies applied in the Company’s audited 2022 consolidated financial statements and notes thereto included in the Annual Report are applied consistently in these unaudited condensed interim consolidated financial statements. The Company’s interim period results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. The significant accounting policies disclosed in the Company’s audited 2022 consolidated financial statements and notes thereto have been applied consistently to these unaudited condensed interim consolidated financial statements.
Use of estimates	b. Use of estimates: The preparation of the unaudited condensed interim consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the financial statements and accompanying notes. Such management estimates and assumptions are related, but not limited to estimates used in determining values of goodwill and identifiable intangible assets, revenue recognition, allowances for credit losses, inventory write-offs, warranty provision, tax assets and tax positions, legal contingencies, amounts classified as discontinued operations and stock-based compensation costs. Actual results could differ from those estimates.
Principles of consolidation	c. Principles of consolidation: The unaudited condensed interim consolidated financial statements include the accounts of the Parent Company and its subsidiaries. Intercompany transactions and balances including profits from intercompany sales not yet realized outside the Company, have been eliminated upon consolidation.
Concentrations of credit risk	d. Concentrations of credit risk: Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, restricted cash, short-term and long-term bank deposits, trade receivables, unbilled accounts receivable and long-term trade receivables. As of June 30, 2023, $5,418 of the Company's cash and cash equivalents and restricted cash and short-term deposits were invested in major Israeli and U.S. banks, and approximately $6,512 were invested in other banks, mainly with the Royal Bank of Canada, Deutsche Bank and NatWest Bank. The Company is exposed to credit risk in the event of default by the financial institutions to the extent of the amounts recorded on the accompanying consolidated balance sheets exceed federally insured limits. Generally, these deposits may be redeemed upon demand and therefore, bear low risk. Trade receivables of the Company, as well as the unbilled accounts receivable, are primarily derived from sales to large and solid organizations and governmental authorities located mainly in the U.S., Canada, Europe and APAC. The Company performs ongoing credit evaluations of its customers. An allowance for credit losses is recognized with respect to those amounts that the Company has determined to be doubtful of collection. In certain circumstances, the Company may require letters of credit, other collateral or additional guarantees.
Revenue recognition	e. Revenue recognition: Remaining performance obligations: Remaining performance obligations represent the future revenues expected to be recognized on firm orders received by the Company and are equivalent to the Company’s remaining performance obligations at the end of each period for a remaining period of more than a year. The Company's remaining performance obligations as of June 30, 2023 was $9.2 million, out of which the Company expects to recognize approximately 15% as revenue in the next twelve months, with the remainder to be recognized thereafter. Deferred revenues and customer advances: Deferred revenues and customer advances decreased by $0.4 million compared to the beginning balance of $4.6 million as of January 1, 2023. The decrease was primarily as a result of $2.1 million of recognized revenues from deferred revenues and customer advances. This was offset by $1.6 million of new unearned amounts under contracts as well as $0.1 million of exchange rate impact. The above resulted in an ending balance of $4.2 million as of June 30, 2023. Unbilled accounts receivable: Unbilled accounts receivable decreased by $0.3 million compared to the beginning balance of $0.3 million as of January 1, 2023. The increase was primarily due to $0.1 million of recognized revenues in advance of contractual billing during the year. This was offset by a decrease of $0.4 million as a result of billings. The above resulted in a balance of $7 as of June 30, 2023.
New accounting pronouncements not yet effective	f. New accounting pronouncements not yet effective: As of June 30, 2023, there are no recently issued accounting pronouncements that have not yet been adopted that are expected to have a material effect on the Company’s unaudited condensed interim consolidated financial statements.

GENERAL (Tables)

GENERAL (Tables)	6 Months Ended
GENERAL (Tables)	Jun. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Schedule of results of discontinued operations	The following table presents the results of the discontinued operations for the six months ended June 30, 2023 and 2022, are presented below: Six months ended June 30, 2023 2022 Income (loss) after income taxes $ - $ - Capital loss from discontinued operation - (264 ) Net loss from discontinued operation $ - $ (264 ) The following table presents cash flows for discontinued operations: Six months ended June 30, 2023 2022 Net cash provided by discontinued operating activities $ 22 $ 123

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
INVENTORIES (Tables)	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of inventories	June 30, 2023 December 31, 2022 Unaudited Raw materials $ 2,723 $ 2,105 Work in progress 623 911 Finished products 6,200 5,427 $ 9,546 $ 8,443

BASIC AND DILUTED NET EARNING_2

BASIC AND DILUTED NET EARNINGS (LOSS) PER SHARE (Tables)	6 Months Ended
BASIC AND DILUTED NET EARNINGS (LOSS) PER SHARE (Tables)	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of basic and diluted net earnings per share	Six months ended June 30, 2023 2022 Numerator - continuing operations: Net loss from continuing operations attributable to Senstar shareholders $ (1,600 ) $ (669 ) Numerator - discontinued operations: Net loss from discontinued operations $ - $ (264 ) Denominator: Denominator for basic net loss per share weighted-average number of shares outstanding 23,309,987 23,305,981 Effect of dilutive securities: Employee stock options - - Denominator for diluted net loss per share - adjusted weighted average shares and assumed exercises 23,309,987 23,305,981

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
SEGMENT INFORMATION (Tables)	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of revenues and long-lived assets with in geographic areas	The following is a summary of revenues within geographic areas based on end customers’ location and long-lived assets: 1. Revenues: Six months ended June 30, 2023 2022 North America $ 7,727 $ 6,496 Europe 5,320 5,134 APAC 1,236 3,716 South and Latin America 553 422 Israel 48 50 Others 2 91 $ 14,886 $ 15,909 2. Long-lived assets: June 30, 2023 December 31, 2022 Unaudited Israel $ 119 $ 170 Europe 1,318 1,268 USA 1,774 1,764 Canada 11,381 11,375 Others 51 69 $ 14,643 $ 14,646

GENERAL (Narrative) (Details)

GENERAL (Narrative) (Details) $ in Millions	Feb. 07, 2021 USD ($)
Business Acquisition [Line Items]
Cash consideration for division purchase	$ 35

GENERAL (Schedule of results of

GENERAL (Schedule of results of the discontinued operations) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net loss from discontinued operation	$ 0	$ (264)
Discontinued Operations [Member] \| Integrated Solutions Division Member
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) after income taxes	0	0
Capital gain from discontinued operation	0	(264)
Net loss from discontinued operation	$ 0	$ (264)

GENERAL (Schedule of cash flows

GENERAL (Schedule of cash flows for discontinued operations) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Discontinued Operations [Member] \| Integrated Solutions Division Member
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net cash provided by discontinued operating activities	$ 22	$ 123

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Remaining performance obligations	$ 9,200
Recognizing Remaining performance obligations in 2022, percentage	15%
Increase decrease in customer advances and deferred revenues	$ 400
Customer Advances And Deferred Revenues	4,200	$ 4,600
Increase decrease in unearned amounts	2,100
Amount Of Exchange Rate In Customer Advances And Deferred Revenues	1,600
Amount of recognized revenues from customer advances and deferred revenues	100
Increase decrease in unbilled accounts receivables	400	300
Increase decrease in unbilled accounts receivable billings	100
Unbilled accounts receivable	7	$ 350
Major Israeli And U.S. Banks [Member]
Business Acquisition [Line Items]
Cash and cash equivalents, short-term and restricted deposits	5,418
Other Banks [Member]
Business Acquisition [Line Items]
Cash and cash equivalents, short-term and restricted deposits	$ 6,512

INVENTORIES (Narrative) (Detail

INVENTORIES (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
INVENTORIES (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventory write-offs	$ 3	$ 21

INVENTORIES (Schedule of invent

INVENTORIES (Schedule of inventories) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 2,723	$ 2,105
Work in progress	623	911
Finished products	6,200	5,427
Total inventory	$ 9,546	$ 8,443

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Narrative) (Details) $ in Thousands, $ in Thousands	1 Months Ended		6 Months Ended
	Jul. 19, 2022 MXN ($)	Jul. 19, 2022 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 30, 2022 USD ($)
Other Commitments [Line Items]
Line of credit			$ 2,017	$ 2,117
Credit lines utilized for bank performance guarantees			1,487	$ 1,595
Restricted deposits			$ 1,327		$ 0
Average interest rate			4.70%
Royalty rate			3.50%
Royalties, maximum percentage of grants received			100%
Remaining contingent obligations			$ 600
Buyer [Member]
Other Commitments [Line Items]
Repayment amount for adjustment to purchase price	$ 86,855	$ 4,250

SHAREHOLDERS' EQUITY (Narrative

SHAREHOLDERS' EQUITY (Narrative) (Details) - shares	Jun. 30, 2023	Dec. 31, 2022
Stockholders' Equity Note [Abstract]
Ordinary shares, shares issued	23,309,987	23,309,987
Ordinary shares, shares outstanding	23,309,987	23,309,987

BASIC AND DILUTED NET EARNING_3

BASIC AND DILUTED NET EARNINGS (LOSS) PER SHARE (Schedule of basic and diluted net earnings per share) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Numerator - continuing operations:
Net loss from continuing operations attributable to Senstar shareholders	$ (1,600)	$ (669)
Numerator - discontinued operations:
Net loss from discontinued operations	$ 0	$ (264)
Denominator:
Denominator for basic net loss per share weighted-average number of shares outstanding	23,309,987	23,305,981
Effect of dilutive securities: Employee stock options	0	0
Denominator for diluted net loss per share - adjusted weighted average shares and assumed exercises	23,309,987	23,305,981

BALANCES AND TRANSACTIONS WIT_2

BALANCES AND TRANSACTIONS WITH RELATED PARTIES (Narrative) (Details) - Chairman of the Board [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Related Party Transaction [Line Items]
Minimum profit for bonus payment	$ 5,000
Monthly payment [Member]
Related Party Transaction [Line Items]
Compensation	4
Annual cash bonus [Member]
Related Party Transaction [Line Items]
Compensation	$ 30

SEGMENT INFORMATION (Schedule o

SEGMENT INFORMATION (Schedule of Revenues and Long-Lived Assets Within Geographic Areas) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 14,886	$ 15,909
Long-lived assets	14,643		$ 14,646
North America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	7,727	6,496
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	5,320	5,134
Long-lived assets	1,318		1,268
APAC [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	1,236	3,716
South And Latin America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	553	422
Israel [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	48	50
Long-lived assets	119		170
USA [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	1,774		1,764
Canada [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	11,381		11,375
Others [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	2	$ 91
Long-lived assets	$ 51		$ 69