Equity (Tables)
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3 Months Ended |
Mar. 31, 2025 |
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| Stockholders' Equity Note [Abstract] |
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| Schedule of stock-based compensation expense |
Share-based compensation expenses for equity-classified share options, restricted share units (“RSUs”) and performance-based restricted share units (”PSUs”) were allocated as follows:
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Three Months Ended March 31, |
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2025 |
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2024 |
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U.S $ in thousands |
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| Cost of revenues |
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$ |
708 |
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$ |
952 |
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| Research and development, net |
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1,240 |
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2,131 |
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| Selling, general and administrative |
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4,265 |
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5,566 |
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| Total stock-based compensation expenses |
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$ |
6,213 |
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$ |
8,649 |
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| Schedule of stock option activity |
A summary of the Company’s share option activity for the three months ended March 31, 2025 is as follows:
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Number of Options |
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Weighted Average Exercise Price |
Options outstanding as of January 1, 2025 |
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1,250,004 |
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19.18 |
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| Forfeited |
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(37,619) |
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19.66 |
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Options outstanding as of March 31, 2025 |
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1,212,385 |
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19.17 |
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Options exercisable as of March 31, 2025 |
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1,017,312 |
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20.00 |
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| Schedule of RSUs and PSUs activity |
A summary of the Company’s RSUs and PSUs activity for the three months ended March 31, 2025 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, 2025 |
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3,945,120 |
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13.67 |
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| Granted |
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2,010,477 |
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10.43 |
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| Vested |
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(662,640) |
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17.36 |
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| Forfeited |
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(177,182) |
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17.13 |
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Unvested as of March 31, 2025 |
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5,115,775 |
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11.80 |
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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 three months ended March 31, 2025 and 2024, respectively:
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Three Months Ended
March 31, 2025 |
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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, 2025 |
$ |
4,907 |
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$ |
(12,938) |
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$ |
(8,031) |
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| Other comprehensive income (loss) before reclassifications |
(1,778) |
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1,726 |
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(52) |
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| Amounts reclassified from accumulated other comprehensive loss |
(1,257) |
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— |
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(1,257) |
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| Other comprehensive income (loss) |
(3,035) |
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1,726 |
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(1,309) |
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| Balance as of March 31, 2025 |
$ |
1,872 |
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$ |
(11,212) |
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$ |
(9,340) |
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Three Months Ended
March 31, 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 |
1,493 |
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(2,186) |
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(693) |
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| Amounts reclassified from accumulated other comprehensive loss |
(811) |
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— |
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(811) |
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| Other comprehensive income (loss) |
682 |
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(2,186) |
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(1,504) |
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| Balance as of March 31, 2024 |
$ |
2,472 |
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$ |
(11,055) |
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$ |
(8,583) |
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