Equity (Tables)
|
9 Months Ended |
Sep. 30, 2019 |
|---|
| Equity [Abstract] |
|
| Schedule of Share-based Compensation Expense |
Stock-based compensation expenses for equity-classified stock options, restricted share units (“RSUs”) and performance stock units ("PSUs") were allocated as follows:
|
|
Three Months Ended |
|
Nine Months Ended |
|
|
September 30, |
|
September 30, |
|
|
2019 |
|
2018 |
|
2019 |
|
2018 |
|
|
U.S $ in thousands |
|
U.S $ in thousands |
| Cost of sales |
|
$ |
475 |
|
$ |
351 |
|
$ |
1,370 |
|
$ |
1,180 |
| Research and development, net |
|
|
1,494 |
|
|
928 |
|
|
3,764 |
|
|
2,608 |
| Selling, general and administrative |
|
|
3,466 |
|
|
2,734 |
|
|
10,623 |
|
|
7,918 |
| Total stock-based compensation expenses |
|
$ |
5,435 |
|
$ |
4,013 |
|
$ |
15,757 |
|
$ |
11,706 |
|
| Summary of Stock Options Activity |
A summary of the Company’s stock option activity for the nine months ended September 30, 2019 is as follows:
|
|
|
|
|
Weighted Average |
|
|
Number of Options |
|
Exercise Price |
| Options outstanding as of January 1, 2019 |
|
2,551,743 |
|
|
$ |
30.82 |
| Exercised |
|
(242,317 |
) |
|
|
21.34 |
| Forfeited |
|
(218,568 |
) |
|
|
27.40 |
| Options outstanding as of September 30, 2019 |
|
2,090,858 |
|
|
$ |
32.28 |
| Options exercisable as of September 30, 2019 |
|
1,600,304 |
|
|
$ |
35.90 |
|
| Summary of RSUs and PSUs activity |
A summary of the Company’s RSUs and PSUs activity for the nine months ended September 30, 2019 is as follows:
|
|
|
|
|
Weighted Average |
|
|
Number of RSUs and PSUs
|
|
Grant Date Fair Value |
| Unvested as of January 1, 2019 |
|
1,422,887 |
|
|
$ |
20.17 |
| Granted |
|
1,564,182 |
|
|
|
26.61 |
| Vested |
|
(304,408 |
) |
|
|
20.47 |
| Forfeited |
|
(251,574 |
) |
|
|
22.19 |
| Unvested as of September 30, 2019 |
|
2,431,087 |
|
|
$ |
24.07 |
|
| Schedule of Accumulated other comprehensive income (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, 2019 and 2018, respectively:
|
|
Nine months ended September 30, 2019 |
|
|
Net unrealized gain |
|
Foreign currency |
|
|
|
|
|
|
(loss) on cash flow |
|
translation |
|
|
|
|
|
|
hedges |
|
adjustments |
|
Total |
|
|
U.S. $ in thousands |
| Balance as of January 1, 2019 |
|
$ |
(627 |
) |
|
$ |
(7,126 |
) |
|
$ |
(7,753 |
) |
| Other comprehensive income (loss) before reclassifications |
|
|
1,689 |
|
|
|
(1,398 |
) |
|
|
291 |
|
| Amounts reclassified from accumulated other comprehensive loss |
|
|
(505 |
) |
|
|
- |
|
|
|
(505 |
) |
| Other comprehensive income (loss) |
|
|
1,184 |
|
|
|
(1,398 |
) |
|
|
(214 |
) |
| Balance as of September 30, 2019 |
|
$ |
557 |
|
|
$ |
(8,524 |
) |
|
$ |
(7,967 |
) |
|
|
Nine months ended September 30, 2018 |
|
|
Net unrealized gain |
|
Foreign currency |
|
|
|
|
|
|
(loss) on cash flow |
|
translation |
|
|
|
|
|
|
hedges |
|
adjustments |
|
Total |
|
|
U.S. $ in thousands |
| Balance as of January 1, 2018 |
|
$ |
330 |
|
|
$ |
(7,353 |
) |
|
$ |
(7,023 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Other comprehensive income (loss) before reclassifications |
|
|
(733 |
) |
|
|
(1,540 |
) |
|
|
(2,273 |
) |
| Amounts reclassified from accumulated other comprehensive loss |
|
|
386 |
|
|
|
95 |
|
|
|
481 |
|
| Other comprehensive loss |
|
|
(347 |
) |
|
|
(1,445 |
) |
|
|
(1,792 |
) |
| Balance as of September 30, 2018 |
|
$ |
(17 |
) |
|
$ |
(8,798 |
) |
|
$ |
(8,815 |
) |
|