Equity (Tables)
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9 Months Ended |
Sep. 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 September 30, |
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Nine Months Ended September 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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$ |
912 |
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$ |
891 |
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$ |
2,875 |
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$ |
2,822 |
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| Research and development, net |
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1,765 |
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1,605 |
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6,016 |
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5,561 |
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| Selling, general and administrative |
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3,892 |
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4,985 |
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13,673 |
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15,361 |
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| Total stock-based compensation expenses |
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$ |
6,569 |
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$ |
7,481 |
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$ |
22,564 |
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$ |
23,744 |
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| Schedule of stock option activity |
A summary of the Company’s stock option activity for the nine months ended September 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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(176,524) |
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23.65 |
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Options outstanding as of September 30, 2024 |
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1,171,715 |
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20.31 |
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Options exercisable as of September 30, 2024 |
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940,704 |
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21.29 |
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| Schedule of RSUs and PSUs activity |
A summary of the Company’s RSUs and PSUs activity for the nine months ended September 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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2,262,431 |
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10.85 |
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| Vested |
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(1,273,414) |
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18.75 |
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| Forfeited |
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(555,579) |
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15.99 |
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Unvested as of September 30, 2024 |
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4,275,670 |
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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 nine months ended September 30, 2024 and 2023, respectively:
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Nine Months Ended
September 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 |
430 |
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918 |
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1,348 |
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| Amounts reclassified from accumulated other comprehensive loss |
(2,051) |
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— |
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(2,051) |
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| Other comprehensive loss |
(1,621) |
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918 |
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(703) |
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| Balance as of September 30, 2024 |
$ |
169 |
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$ |
(7,951) |
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$ |
(7,782) |
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Nine Months Ended
September 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 |
(3,122) |
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482 |
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(2,640) |
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| Amounts reclassified from accumulated other comprehensive loss |
2,500 |
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— |
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2,500 |
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| Other comprehensive income |
(622) |
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482 |
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(140) |
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| Balance as of September 30, 2023 |
$ |
(921) |
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$ |
(12,037) |
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$ |
(12,958) |
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