Equity (Tables)
|
9 Months Ended |
Sep. 30, 2023 |
|---|
| Stockholders' Equity Note [Abstract] |
|
| Schedule of Stock-Based Compensation Expenses |
Stock-based compensation expenses for
equity-classified stock options, restricted share units (“RSUs”),
performance-based restricted share units (”PSUs”) and ordinary shares purchased
by the Company’s employees under the Company’s Employee Share Purchase
Plan (“ESPP”) were allocated as follows:
| |
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
| |
|
2023 |
|
|
|
2022 |
|
|
|
2023 |
|
|
|
2022 |
|
| |
U.S $ in thousands |
|
U.S $ in thousands |
| Cost of revenues |
$ |
891 |
|
|
$ |
1,061 |
|
|
$ |
2,822 |
|
|
$ |
3,041 |
|
| Research and development, net |
|
1,605 |
|
|
|
1,487 |
|
|
|
5,561 |
|
|
|
4,879 |
|
| Selling, general and administrative |
|
4,985 |
|
|
|
4,843 |
|
|
|
15,361 |
|
|
|
16,835 |
|
| Total stock-based compensation expenses |
$ |
7,481 |
|
|
$ |
7,391 |
|
|
$ |
23,744 |
|
|
$ |
24,755 |
|
|
| Schedule of Stock Option Activity |
A summary of the Company’s stock option activity for the nine months ended September 30, 2023 is as follows:
| |
|
Number of Options |
|
|
|
Weighted Average Exercise Price |
|
| Options outstanding as of January 1, 2023 |
|
1,619,559 |
|
|
|
27.62 |
|
| Granted |
|
54,632 |
|
|
|
14.54 |
|
| Exercised |
|
(2,549 |
) |
|
|
3.56 |
|
| Forfeited |
|
(312,921 |
) |
|
|
55.29 |
|
| Options outstanding as of September 30, 2023 |
|
1,358,721 |
|
|
|
21.03 |
|
| Options exercisable as of September 30, 2023 |
|
1,003,935 |
|
|
|
22.41 |
|
|
| Schedule of RSUs and PSUs Activity |
A summary of the Company’s RSUs and PSUs activity for the nine months ended September 30, 2023 is as follows:
| |
|
Number of RSUs and PSUs |
|
|
|
Weighted Average Grant Date Fair Value |
|
| Unvested as of January 1, 2023 |
|
3,496,099 |
|
|
|
23.98 |
|
| Granted |
|
1,832,498 |
|
|
|
13.28 |
|
| Vested |
|
(1,485,905 |
) |
|
|
23.52 |
|
| Forfeited |
|
(275,910 |
) |
|
|
23.48 |
|
| Unvested as of September 30, 2023 |
|
3,566,782 |
|
|
|
18.71 |
|
|
| Schedule of Accumulated Other Comprehensive Income (loss), Net of Taxes |
The following tables present the changes in the components of accumulated other comprehensive income (loss), net of taxes, for the nine months ended September 30, 2023 and 2022, respectively:
| |
Nine Months Ended September 30, 2023 |
| |
|
Net Unrealized Gain
(Loss) on Cash Flow
Hedges |
|
|
|
Foreign Currency
Translation
Adjustments |
|
|
|
Total |
|
| |
U.S. $ in thousands |
| |
|
|
|
|
|
|
|
|
|
|
|
| Balance as of January 1, 2023 |
$ |
(299 |
) |
|
$ |
(12,519 |
) |
|
$ |
(12,818 |
) |
| Other comprehensive income (loss) before reclassifications |
|
(3,122 |
) |
|
|
482 |
|
|
|
(2,640 |
) |
| Amounts reclassified from accumulated
other comprehensive loss |
|
2,500 |
|
|
|
- |
|
|
|
2,500 |
|
| Other comprehensive loss |
|
(622 |
) |
|
|
482 |
|
|
|
(140 |
) |
| Balance as of September 30, 2023 |
$ |
(921 |
) |
|
$ |
(12,037 |
) |
|
$ |
(12,958 |
) |
| |
Nine Months Ended September 30, 2022 |
| |
|
Net Unrealized Gain
(Loss) on Cash Flow
Hedges |
|
|
|
Foreign Currency
Translation
Adjustments |
|
|
|
Total |
|
| |
U.S. $ in thousands |
| |
|
|
|
|
|
|
|
|
|
|
|
| Balance as of January 1, 2022 |
$ |
1,572 |
|
|
$ |
(10,343 |
) |
|
$ |
(8,771 |
) |
| Other comprehensive income before
reclassifications |
|
(506 |
) |
|
|
(5,089 |
) |
|
|
(5,595 |
) |
| Amounts reclassified from accumulated
other comprehensive loss |
|
143 |
|
|
|
- |
|
|
|
143 |
|
| Other comprehensive income |
|
(363 |
) |
|
|
(5,089 |
) |
|
|
(5,452 |
) |
| Balance as of September 30, 2022 |
$ |
1,209 |
|
|
$ |
(15,432 |
) |
|
$ |
(14,223 |
) |
|