Equity (Tables)
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6 Months Ended |
Jun. 30, 2024 |
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| Stockholders' Equity Note [Abstract] |
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| Schedule of stock-based compensation expense |
Stock-based compensation expenses for equity-classified stock options, restricted share units (“RSUs”) and performance-based restricted share units (”PSUs”) were allocated as follows:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2024 |
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2023 |
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2024 |
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2023 |
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U.S $ in thousands |
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U.S $ in thousands |
| Cost of revenues |
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$ |
1,010 |
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$ |
999 |
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$ |
1,962 |
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$ |
1,931 |
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| Research and development, net |
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2,120 |
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1,867 |
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4,251 |
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3,956 |
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| Selling, general and administrative |
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4,216 |
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5,156 |
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9,782 |
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10,376 |
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| Total stock-based compensation expenses |
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$ |
7,346 |
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$ |
8,022 |
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$ |
15,995 |
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$ |
16,263 |
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| Schedule of stock option activity |
A summary of the Company’s stock option activity for the six months ended June 30, 2024 is as follows:
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Number of Options |
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Weighted Average Exercise Price |
Options outstanding as of January 1, 2024 |
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1,360,652 |
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20.67 |
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| Granted |
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— |
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— |
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| Exercised |
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(12,413) |
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12.30 |
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| Forfeited |
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(54,569) |
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24.30 |
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Options outstanding as of June 30, 2024 |
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1,293,670 |
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20.60 |
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Options exercisable as of June 30, 2024 |
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1,014,148 |
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21.80 |
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| Schedule of RSUs and PSUs activity |
A summary of the Company’s RSUs and PSUs activity for the six months ended June 30, 2024 is as follows:
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Number of RSUs and PSUs |
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Weighted Average Grant Date Fair Value |
Unvested as of January 1, 2024 |
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3,842,232 |
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17.95 |
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| Granted |
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1,867,931 |
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11.77 |
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| Vested |
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(1,020,493) |
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19.12 |
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| Forfeited |
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(213,697) |
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19.14 |
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Unvested as of June 30, 2024 |
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4,475,973 |
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18.83 |
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| Schedule of accumulated other comprehensive loss |
The following tables present the changes in the components of accumulated other comprehensive income (loss), net of taxes, for the six months ended June 30, 2024 and 2023, respectively:
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Six Months Ended
June 30, 2024 |
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Net Unrealized Gain (Loss) on Cash Flow Hedges |
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Foreign Currency Translation Adjustments |
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Total |
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U.S. $ in thousands |
Balance as of January 1, 2024 |
$ |
1,790 |
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$ |
(8,869) |
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$ |
(7,079) |
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| Other comprehensive income (loss) before reclassifications |
1,459 |
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(2,210) |
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(751) |
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| Amounts reclassified from accumulated other comprehensive loss |
(1,303) |
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— |
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(1,303) |
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| Other comprehensive loss |
156 |
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(2,210) |
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(2,054) |
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| Balance as of June 30, 2024 |
$ |
1,946 |
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$ |
(11,079) |
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$ |
(9,133) |
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Six Months Ended
June 30, 2023 |
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Net Unrealized Gain (Loss) on Cash Flow Hedges |
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Foreign Currency Translation Adjustments |
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Total |
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U.S. $ in thousands |
Balance as of January 1, 2023 |
$ |
(299) |
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$ |
(12,519) |
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$ |
(12,818) |
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| Other comprehensive income before reclassifications |
(2,708) |
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1,834 |
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(874) |
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| Amounts reclassified from accumulated other comprehensive loss |
1,021 |
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— |
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1,021 |
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| Other comprehensive income |
(1,687) |
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1,834 |
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147 |
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| Balance as of June 30, 2023 |
$ |
(1,986) |
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$ |
(10,685) |
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$ |
(12,671) |
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