Annual and transition report of foreign private issuers [Sections 13 or 15(d)]

Equity (Tables)

v3.25.4
Equity (Tables)
12 Months Ended
Dec. 31, 2025
Stockholders' Equity Note [Abstract]  
Schedule of stock option activity
Number of Options Weighted Average Exercise Price
Options outstanding as of December 31, 2024 1,250,004  $ 19.18 
Granted 88,448  11.45 
Forfeited (114,256) 29.39 
Options outstanding as of December 31, 2025 1,224,196  $ 17.67 
Options exercisable as of December 31, 2025 862,478  $ 18.55 
Schedule of Stock Options Outstanding
Options Outstanding Options Exercisable
Range of Exercise Prices Outstanding options at December 31, 2025
Options Outstanding Weighted- Average Remaining Contractual Life in Years
Weighted- Average Exercise Price Exercisable options at December 31, 2025 Weighted-Average Exercise Price
$ 9.32  - $ 11.45  178,629 9.30 $ 10.38  116,911 $ 9.81 
$ 11.52  - $ 19.61  473,197 4.93 16.15  173,197 15.70 
$ 19.66  - $ 22.47  469,400 1.78 20.47  469,400 20.47 
$ 23.41  - $ 27.83  102,970 2.15 24.50  102,970 24.50 
1,224,196 4.13 $ 17.66  862,478 $ 18.55 
Aggregate intrinsic value (U.S. $ in thousands) $ —  $ — 
Schedule of Stock Option Assumptions
2025 2024 2023
Risk-free interest rate 3.7% 4.2% 4.1% 4.7%
Expected option term (years) 5.5 5.5 5.5
Expected share price volatility 60.5% 61.8% 61.0% 61.2%
Dividend yield
Weighted average grant date fair value $6.33 $4.24 $9.75
Schedule of RSUs and PSUs activity
Number of RSUs and PSUs Weighted Average
Grant Date Fair Value
Unvested RSUs and PSUs outstanding as of December 31, 2024 3,945,120  $ 13.67 
Granted 3,126,358  9.95 
Vested (1,726,171) 14.76 
Forfeited (619,172) 13.47 
Unvested RSUs and PSUs outstanding as of December 31, 2025 4,726,135  $ 10.84 
Schedule of stock-based compensation expense
Year ended December 31, 2025 2024 2023
 (U.S. $ in thousands)
Cost of revenues $ 3,045  $ 3,073  $ 3,701 
Research and development, net 5,373  7,270  7,932 
Selling, general and administrative 15,856  15,275  19,981 
$ 24,274  $ 25,618  $ 31,614 
Schedule of accumulated other comprehensive loss
Year Ended December, 31 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
(310) 7,365  7,055 
Amounts reclassified from accumulated other comprehensive loss (5,221) —  (5,221)
Other comprehensive income (loss)
(5,531) 7,365  1,834 
Balance as of December 31, 2025 $ (624) $ (5,573) $ (6,197)

Year Ended December, 31 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 5,656  (4,069) 1,587 
Amounts reclassified from accumulated other comprehensive loss (2,539) —  (2,539)
Other comprehensive income (loss)
3,117  (4,069) (952)
Balance as of December 31, 2024 $ 4,907  $ (12,938) $ (8,031)
Year Ended December, 31 2023
Net Unrealized Gain
(Loss) on Cash Flow
Hedges
Foreign Currency
Translation
Adjustments
Total
U.S. $ in thousands
Balance as of January 1, 2023 $ (299) $ (12,519) $ (12,818)
Other comprehensive income (loss) before reclassifications (1,797) 3,650  1,853 
Amounts reclassified from accumulated other comprehensive income 3,886  —  3,886 
Other comprehensive income
2,089  3,650  5,739 
Balance as of December 31, 2023 $ 1,790  $ (8,869) $ (7,079)