Equity (Tables)
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9 Months Ended |
Sep. 30, 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”), in the aggregate, 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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2025 |
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2024 |
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2025 |
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2024 |
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(U.S. $ in thousands) |
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(U.S. $ in thousands) |
| Cost of revenues |
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$ |
819 |
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$ |
912 |
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$ |
2,273 |
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$ |
2,875 |
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| Research and development, net |
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1,540 |
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1,765 |
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4,338 |
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6,016 |
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| Selling, general and administrative |
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3,276 |
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3,892 |
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11,375 |
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13,673 |
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Total share-based compensation expenses |
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$ |
5,635 |
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$ |
6,569 |
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$ |
17,986 |
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$ |
22,564 |
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| Schedule of stock option activity |
A summary of the Company’s share option activity for the nine months ended September 30, 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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| Granted |
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48,752 |
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11.20 |
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| Forfeited |
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(110,045) |
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29.57 |
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Options outstanding as of September 30, 2025 |
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1,188,711 |
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17.89 |
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Options exercisable as of September 30, 2025 |
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1,057,448 |
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18.36 |
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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, 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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2,612,050 |
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10.51 |
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| Vested |
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(1,395,904) |
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15.09 |
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| Forfeited |
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(344,055) |
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14.32 |
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Unvested as of September 30, 2025 |
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4,817,211 |
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11.50 |
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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, 2025 and 2024, respectively:
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Nine Months Ended September 30, 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 |
(1,144) |
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6,466 |
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5,322 |
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| Amounts reclassified from accumulated other comprehensive loss |
(3,861) |
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— |
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(3,861) |
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| Other comprehensive income (loss) |
(5,005) |
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6,466 |
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1,461 |
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| Balance as of September 30, 2025 |
$ |
(98) |
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$ |
(6,472) |
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$ |
(6,570) |
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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 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 income (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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