Equity (Tables)
|
6 Months Ended |
Jun. 30, 2025 |
|---|
| Stockholders' Equity Note [Abstract] |
|
| 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”), in the aggregate, were allocated as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
|
(U.S $ in thousands) |
|
(U.S $ in thousands) |
| Cost of revenues |
|
$ |
746 |
|
|
$ |
1,010 |
|
|
$ |
1,454 |
|
|
$ |
1,962 |
|
| Research and development, net |
|
1,557 |
|
|
2,120 |
|
|
2,798 |
|
|
4,251 |
|
| Selling, general and administrative |
|
3,835 |
|
|
4,216 |
|
|
8,099 |
|
|
9,782 |
|
Total share-based compensation expenses |
|
$ |
6,138 |
|
|
$ |
7,346 |
|
|
$ |
12,351 |
|
|
$ |
15,995 |
|
|
| Schedule of stock option activity |
A summary of the Company’s share option activity for the six months ended June 30, 2025 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of Options |
|
Weighted Average Exercise Price |
Options outstanding as of January 1, 2025 |
|
1,250,004 |
|
|
19.18 |
|
|
|
|
|
|
|
|
|
|
|
| Forfeited |
|
(110,045) |
|
|
29.57 |
|
Options outstanding as of June 30, 2025 |
|
1,139,959 |
|
|
18.18 |
|
Options exercisable as of June 30, 2025 |
|
1,004,926 |
|
|
18.57 |
|
|
| Schedule of RSUs and PSUs activity |
A summary of the Company’s RSUs and PSUs activity for the six months ended June 30, 2025 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of RSUs and PSUs |
|
Weighted Average Grant Date Fair Value |
Unvested as of January 1, 2025 |
|
3,945,120 |
|
|
13.67 |
|
| Granted |
|
2,010,477 |
|
|
10.43 |
|
| Vested |
|
(987,341) |
|
|
16.53 |
|
| Forfeited |
|
(240,420) |
|
|
15.80 |
|
Unvested as of June 30, 2025 |
|
4,727,836 |
|
|
11.58 |
|
|
| 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, 2025 and 2024, respectively:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2025 |
|
Net Unrealized Gain (Loss) on Cash Flow Hedges |
|
Foreign Currency Translation Adjustments |
|
Total |
|
(U.S. $ in thousands) |
Balance as of January 1, 2025 |
$ |
4,907 |
|
|
$ |
(12,938) |
|
|
$ |
(8,031) |
|
| Other comprehensive income (loss) before reclassifications |
(2,177) |
|
|
6,772 |
|
|
4,595 |
|
| Amounts reclassified from accumulated other comprehensive loss |
(2,782) |
|
|
— |
|
|
(2,782) |
|
| Other comprehensive income (loss) |
(4,959) |
|
|
6,772 |
|
|
1,813 |
|
| Balance as of June 30, 2025 |
$ |
(52) |
|
|
$ |
(6,166) |
|
|
$ |
(6,218) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2024 |
|
Net Unrealized Gain (Loss) on Cash Flow Hedges |
|
Foreign Currency Translation Adjustments |
|
Total |
|
(U.S. $ in thousands) |
Balance as of January 1, 2024 |
$ |
1,790 |
|
|
$ |
(8,869) |
|
|
$ |
(7,079) |
|
| Other comprehensive income (loss) before reclassifications |
1,459 |
|
|
(2,210) |
|
|
(751) |
|
| Amounts reclassified from accumulated other comprehensive loss |
(1,303) |
|
|
— |
|
|
(1,303) |
|
| Other comprehensive income (loss) |
156 |
|
|
(2,210) |
|
|
(2,054) |
|
| Balance as of June 30, 2024 |
$ |
1,946 |
|
|
$ |
(11,079) |
|
|
$ |
(9,133) |
|
|