Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jun. 30, 2022 | |
Document And Entity [Abstract] | |
Entity Registrant Name | CAMTEK LTD |
Entity Central Index Key | 0001109138 |
Current Fiscal Year End Date | --12-31 |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2022 |
Document Fiscal Period Focus | Q2 |
Document Fiscal Year Focus | 2022 |
Entity Address, Address Line One | Ramat Gavriel Industrial Zone |
Entity Address, Address Line Two | P.O. Box 544 |
Entity Address, Address Line Three | Migdal Haemek |
Entity Address Country | IL |
Entity Address, Postal Zip Code | 23150 |
Interim Unaudited Condensed Con
Interim Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Current assets | ||
Cash and cash equivalents | $ 56,041 | $ 241,943 |
Short-term deposits | 335,000 | 156,000 |
Trade accounts receivable, net | 73,114 | 57,825 |
Inventories | 70,075 | 58,759 |
Other current assets | 7,497 | 5,653 |
Total current assets | 541,727 | 520,180 |
Long term deposits | 47,000 | 32,000 |
Long term inventory | 4,878 | 5,150 |
Deferred tax assets | 117 | 227 |
Other assets | 427 | 190 |
Property, plant and equipment, net | 30,419 | 25,400 |
Intangible assets, net | 584 | 610 |
Total non-current assets | 83,425 | 63,577 |
Total assets | 625,152 | 583,757 |
Current liabilities | ||
Trade accounts payable | 35,135 | 33,550 |
Other current liabilities | 51,130 | 56,137 |
Total current liabilities | 86,265 | 89,687 |
Long term liabilities | ||
Other long-term liabilities | 6,915 | 5,800 |
Convertible notes | 195,190 | 194,643 |
Total Non current liabilities | 202,105 | 200,443 |
Total liabilities | 288,370 | 290,130 |
Shareholders' equity | ||
Ordinary shares NIS 0.01 par value, 100,000,000 shares authorized at June 30, 2022 and at December 31, 2021; 46,355,859 issued shares at June 30, 2022 and 45,939,019 at December 31, 2021; 44,263,483 shares outstanding at June 30, 2022 and 43,846,643 at December 31, 2021; | 172 | 172 |
Additional paid-in capital | 182,176 | 176,582 |
Retained earnings | 156,332 | 118,771 |
Total shareholders' equity before treasury stock | 338,680 | 295,525 |
Treasury stock, at cost (2,092,376 shares as of June 30, 2022 and December 31, 2021) | (1,898) | (1,898) |
Total shareholders' equity | 336,782 | 293,627 |
Total liabilities and shareholders' equity | $ 625,152 | $ 583,757 |
Interim Unaudited Condensed C_2
Interim Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - ₪ / shares | Jun. 30, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Common Stock, par value per share | ₪ 0.01 | ₪ 0.01 |
Common Stock, shares authorized | 100,000,000 | 100,000,000 |
Common Stock, shares issued | 46,355,859 | 45,939,019 |
Common Stock, shares outstanding | 44,263,483 | 43,846,643 |
Treasury Stock, shares | 2,092,376 | 2,092,376 |
Interim Unaudited Condensed C_3
Interim Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Income Statement [Abstract] | |||
Revenues | $ 156,744 | $ 124,802 | $ 269,659 |
Cost of revenues | 76,693 | 60,831 | 132,315 |
Gross profit | 80,051 | 63,971 | 137,344 |
Research and development costs | 15,199 | 11,244 | 23,473 |
Selling, general and administrative expenses | 24,451 | 21,288 | 42,973 |
Total operating expenses | 39,650 | 32,532 | 66,446 |
Operating income | 40,401 | 31,439 | 70,898 |
Financial income, net | 860 | 562 | 1,030 |
Income before income taxes | 41,261 | 32,001 | 71,928 |
Income tax expense | (3,700) | (2,989) | (11,651) |
Net income | $ 37,561 | $ 29,012 | $ 60,277 |
Net income per ordinary share: | |||
Basic net earnings per share (in dollars per share) | $ 0.86 | $ 0.67 | $ 1.38 |
Diluted net earnings per share (in dollars per share) | $ 0.78 | $ 0.6 | $ 1.34 |
Weighted average number of ordinary shares outstanding (in thousands): | |||
Basic (in shares) | 43,929 | 43,450 | 43,644 |
Diluted (in shares) | 48,150 | 44,612 | 45,035 |
Interim Unaudited Condensed C_4
Interim Unaudited Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands | Ordinary Shares NIS 0.01 par value [Member] | Treasury Shares [Member] | Additional paid-in earnings [Member] | Retained earnings [Member] | Total |
Balance, value at Dec. 31, 2020 | $ 171 | $ (1,898) | $ 170,497 | $ 58,494 | $ 227,264 |
Balance, shares at Dec. 31, 2020 | 45,365,354 | (2,092,376) | |||
Share-based compensation expense | $ 0 | $ 0 | 2,681 | 0 | 2,681 |
Exercise of share options and RSUs | $ 1 | $ 0 | 205 | 0 | 206 |
Exercise of share options and RSUs, shares | 439,508 | 0 | |||
Net income | $ 0 | $ 0 | 0 | 29,012 | 29,012 |
Balance, value at Jun. 30, 2021 | $ 172 | $ (1,898) | 173,383 | 87,506 | 259,163 |
Balance, shares at Jun. 30, 2021 | 45,804,862 | (2,092,376) | |||
Balance, value at Dec. 31, 2020 | $ 171 | $ (1,898) | 170,497 | 58,494 | 227,264 |
Balance, shares at Dec. 31, 2020 | 45,365,354 | (2,092,376) | |||
Net income | 60,277 | ||||
Balance, value at Dec. 31, 2021 | $ 172 | $ (1,898) | 176,582 | 118,771 | $ 293,627 |
Balance, shares at Dec. 31, 2021 | 45,939,019 | (2,092,376) | 43,846,643 | ||
Balance, value at Jun. 30, 2021 | $ 172 | $ (1,898) | 173,383 | 87,506 | $ 259,163 |
Balance, shares at Jun. 30, 2021 | 45,804,862 | (2,092,376) | |||
Share-based compensation expense | $ 0 | $ 0 | 3,134 | 0 | 3,134 |
Exercise of share options and RSUs | $ 0 | 65 | 0 | 65 | |
Exercise of share options and RSUs, shares | 134,157 | 0 | |||
Net income | $ 0 | $ 0 | 0 | 31,265 | 31,265 |
Balance, value at Dec. 31, 2021 | $ 172 | $ (1,898) | 176,582 | 118,771 | $ 293,627 |
Balance, shares at Dec. 31, 2021 | 45,939,019 | (2,092,376) | 43,846,643 | ||
Share-based compensation expense | $ 0 | $ 0 | 5,592 | 0 | $ 5,592 |
Exercise of share options and RSUs | $ 0 | 2 | 0 | 2 | |
Exercise of share options and RSUs, shares | 416,840 | 0 | |||
Net income | $ 0 | $ 0 | 0 | 37,561 | 37,561 |
Balance, value at Jun. 30, 2022 | $ 172 | $ (1,898) | $ 182,176 | $ 156,332 | $ 336,782 |
Balance, shares at Jun. 30, 2022 | 46,355,859 | (2,092,376) | 44,263,483 |
Interim Unaudited Condensed C_5
Interim Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Cash flows from operating activities: | |||
Net income | $ 37,561 | $ 29,012 | $ 60,277 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 1,849 | 1,278 | 2,811 |
Deferred tax expense | 110 | 668 | 255 |
Amortization of debt issuance costs | 547 | 0 | 113 |
Loss on disposal of fixed assets | 0 | 31 | 4 |
Share based compensation expense | 5,592 | 2,681 | 5,815 |
Change in provision for doubtful debts | 0 | (33) | (32) |
Changes in operating assets and liabilities: | |||
Trade accounts receivable, gross | (14,252) | (19,234) | (17,338) |
Inventories | (13,512) | (15,182) | (21,702) |
Due from related parties, net | (2) | (12) | (12) |
Other assets | (2,079) | (1,067) | (2,380) |
Trade accounts payable | 1,244 | 6,040 | 6,190 |
Other current liabilities | (4,111) | 18,440 | 26,956 |
Net cash provided by operating activities | 12,947 | 22,622 | 60,957 |
Cash flows from investing activities: | |||
Investment in short-term deposits | (179,000) | (37,000) | (84,000) |
Investment in long-term deposits | (15,000) | (10,000) | (32,000) |
Purchase of fixed assets | (3,786) | (1,268) | (4,065) |
Purchase of intangible assets | (28) | (45) | (111) |
Net cash used in investing activities | (197,814) | (48,313) | (120,176) |
Cash flows from financing activities: | |||
Proceeds from exercise of share options | 2 | 206 | 271 |
Issuance of convertible notes, net | 0 | 0 | 194,530 |
Net cash provided by financing activities | 2 | 206 | 194,801 |
Effect of change in exchange rate on cash and cash equivalents | (1,037) | 9 | 546 |
Net increase (decrease) in cash and cash equivalents | (185,902) | (25,476) | 136,128 |
Cash and cash equivalents at beginning of the period | 241,943 | 105,815 | 105,815 |
Cash and cash equivalents at end of the period | 56,041 | 80,339 | 241,943 |
Supplementary cash flows information: | |||
Income taxes paid | 454 | 153 | 558 |
Interest received | 1,030 | 0 | 1,057 |
Lease payments | 689 | 481 | 1,060 |
Non-cash transactions: | |||
Fixed assets purchased with supplier credit | $ 680 | $ 321 | $ 339 |
Nature of Operations
Nature of Operations | 6 Months Ended |
Jun. 30, 2022 | |
Nature of Operations [Abstract] | |
Nature of Operations | Note 1 - Nature of Operations A. Camtek Ltd. (“Camtek” or the “Company”), an Israeli corporation, is jointly controlled 21.0% by Priortech Ltd., an Israeli corporation listed on the Tel-Aviv Stock Exchange and 17.7% by Chroma Ate Inc., a Taiwanese company (“Chroma”). Camtek provides automated and technologically advanced solutions dedicated to enhancing production processes, increasing product yield and reliability, and enabling and supporting customers’ latest technologies in the semiconductor fabrication industry. B. As detailed in the annual financial statements as of December 31, 2021, since January 2020, the Covid-19 outbreak has dramatically expanded into a worldwide pandemic creating macro-economic uncertainty and disruption in the business and financial markets. At present, business activity is continuing at all of the Company’s locations, with new routines implemented as required by local Covid-19 regulations. From the beginning of the outbreak, the Company has been carefully managing the risks and its global operations. The Israeli facility has been able to maintain its required production levels. Worldwide, the Company has benefitted from its strategy of having in place local professional teams in each of its territories that can independently install and support systems. As such, the Company has been able to deliver most of its orders on time and the impact of the Covid-19 pandemic on the its business activity has not been significant. |
Basis of Preparation
Basis of Preparation | 6 Months Ended |
Jun. 30, 2022 | |
Basis of Preparation [Abstract] | |
Basis of Preparation | Note 2 - Basis of Preparation A. Statement of compliance Except as described below, the accounting policies applied in these interim financial statements are the same as those applied in the Company’s 2021 annual audited consolidated financial statement for the year ended December 31, 2021. The accompanying unaudited condensed consolidated interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and do not include all of the information required for full annual financial statements. The unaudited condensed consolidated interim statements should be read in conjunction with the Company’s 2021 annual audited consolidated financial statements and footnotes, which were filed with the U.S. Securities and Exchange Commission as part of the Company’s Annual Report on Form 20-F for the year ended December 31, 2021. In the opinion of management of the Company, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the six-month period ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ended December 31, 2022 or for any other future period. |
Shareholders' Equity
Shareholders' Equity | 6 Months Ended |
Jun. 30, 2022 | |
Shareholders' Equity [Abstract] | |
Shareholders' Equity | Note 3 - Shareholders’ Equity A. General The Company’s shares are traded on the NASDAQ Global Market under the symbol “CAMT”, and also listed and traded on the Tel-Aviv stock exchange B . Changes in Stock Options and RSUs The number of stock options exercised in the six-month period ended June 30, 2022, was 416,840. In the first six months of 2022, 602,540 restricted share units (RSUs) were granted by the Company. The RSUs vest over a four-year period. C. Share-based Compensation Expense The total share-based compensation expense amounted to $5,592, $2,681, and $5,815 for the six-month periods ended June 30, 2022 and 2021 and the year ended December 31, 2021, respectively. |
Supplementary Financial Stateme
Supplementary Financial Statements Information | 6 Months Ended |
Jun. 30, 2022 | |
Supplemantary Financial Statements Information [Abstract] | |
Supplementary Financial Statements Information | Note 4 - Supplementary Financial Statements Information A. Cash and cash equivalents The Company’s cash and cash equivalent balance at June 30, 2022 and December 31, 2021 is denominated in the following currencies: June 30, December 31, 2022 2021 U.S. Dollars (in thousands) US Dollars 32,542 225,283 New Israeli Shekels 21,563 13,566 Other currencies 1,936 3,094 56,041 241,943 Short-term deposits are bank deposits in US Dollars with terms at the investment date of 3-12 months with average annual interest rates of 1.11%. B. Inventories June 30, December 31, 2022 2021 U.S. Dollars (in thousands) Components 41,852 33,212 Work in process 15,457 12,688 Finished products (including systems at customer locations not yet sold) 17,644 18,009 74,953 63,909 Inventories are presented in: June 30, December 31, 2022 2021 U.S. Dollars (in thousands) Current assets 70,075 58,759 Long-term assets 4,878 5,150 74,953 63,909 C. Other Current Assets June 30, December 31, 2022 2021 U.S. Dollars (in thousands) Due from Government institutions 2,639 2,623 Interest receivable 1,638 463 Prepaid expenses 2,380 2,025 Other 840 542 7,497 5,653 D. Property, Plant and Equipment, Net June 30, December 31, 2022 2021 U.S. Dollars (in thousands) Land 863 863 Building 16,444 15,208 Machinery and equipment 17,855 13,911 Office furniture and equipment 943 881 Computer equipment and software 6,377 5,383 Automobiles 396 479 Leasehold improvements 1,718 1,642 Right of use assets 5,626 4,969 50,222 43,336 Less accumulated depreciation 19,803 17,936 30,419 25,400 E. Intangible Assets, Net June 30, December 31, 2022 2021 U.S. Dollars (in thousands) Patent registration costs 2,067 2,038 Accumulated amortization and impairment 1,483 1,428 Total intangible assets, net 584 610 F. Other Current Liabilities June 30, December 31, 2022 2021 U.S. Dollars (in thousands) Commissions 19,256 15,967 Advances from customers and deferred revenues 11,757 10,837 Accrued employee compensation and related benefits 9,682 10,923 Accrued warranty costs 3,095 3,265 Government institutions and income tax payable 4,017 11,566 Accrued expenses 2,283 2,561 Operating lease obligations 1,040 1,018 51,130 56,137 |
Statements of Operations
Statements of Operations | 6 Months Ended |
Jun. 30, 2022 | |
Income Statement Related Disclosures [Abstract] | |
Statements of Operations | Note 5 - Statements of Operations A. Selling, general and administrative expenses Six months ended June 30, Year ended December 31, 2022 2021 2021 U.S. Dollars (in thousands) Selling (1) 18,840 16,635 33,614 General and administrative 5,611 4,653 9,359 24,451 21,288 42,973 (1) Including shipping and handling costs 980 840 1,867 B. Financial income (expenses), net Six months ended June 30, Year ended December 31, 2022 2021 2021 U.S. Dollars (in thousands) Interest income 2,488 561 1,408 Amortization of issuance costs of convertible notes (547 ) - (113 ) Other, net (1) (1,081 ) 1 (265 ) 860 562 1,030 (1) Including foreign currency expense resulting from transactions not denominated in U.S. Dollars (871 ) 151 (351 ) |
Basis of Preparation (Policies)
Basis of Preparation (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
Basis of Preparation [Abstract] | |
Statement of compliance | A. Statement of compliance Except as described below, the accounting policies applied in these interim financial statements are the same as those applied in the Company’s 2021 annual audited consolidated financial statement for the year ended December 31, 2021. The accompanying unaudited condensed consolidated interim financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and do not include all of the information required for full annual financial statements. The unaudited condensed consolidated interim statements should be read in conjunction with the Company’s 2021 annual audited consolidated financial statements and footnotes, which were filed with the U.S. Securities and Exchange Commission as part of the Company’s Annual Report on Form 20-F for the year ended December 31, 2021. In the opinion of management of the Company, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the six-month period ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ended December 31, 2022 or for any other future period. |
Supplementary Financial State_2
Supplementary Financial Statements Information (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Cash and Cash Equivalents [Abstract] | |
Schedule of Cash and cash equivalents | June 30, December 31, 2022 2021 U.S. Dollars (in thousands) US Dollars 32,542 225,283 New Israeli Shekels 21,563 13,566 Other currencies 1,936 3,094 56,041 241,943 |
Schedule of Inventories | June 30, December 31, 2022 2021 U.S. Dollars (in thousands) Components 41,852 33,212 Work in process 15,457 12,688 Finished products (including systems at customer locations not yet sold) 17,644 18,009 74,953 63,909 Inventories are presented in: June 30, December 31, 2022 2021 U.S. Dollars (in thousands) Current assets 70,075 58,759 Long-term assets 4,878 5,150 74,953 63,909 |
Schedule of Other Current Assets | June 30, December 31, 2022 2021 U.S. Dollars (in thousands) Due from Government institutions 2,639 2,623 Interest receivable 1,638 463 Prepaid expenses 2,380 2,025 Other 840 542 7,497 5,653 |
Schedule of Property, Plant and Equipment, Net | June 30, December 31, 2022 2021 U.S. Dollars (in thousands) Land 863 863 Building 16,444 15,208 Machinery and equipment 17,855 13,911 Office furniture and equipment 943 881 Computer equipment and software 6,377 5,383 Automobiles 396 479 Leasehold improvements 1,718 1,642 Right of use assets 5,626 4,969 50,222 43,336 Less accumulated depreciation 19,803 17,936 30,419 25,400 |
Schedule of Intangible Assets, Net | June 30, December 31, 2022 2021 U.S. Dollars (in thousands) Patent registration costs 2,067 2,038 Accumulated amortization and impairment 1,483 1,428 Total intangible assets, net 584 610 |
Schedule of Other Current Liabilities | June 30, December 31, 2022 2021 U.S. Dollars (in thousands) Commissions 19,256 15,967 Advances from customers and deferred revenues 11,757 10,837 Accrued employee compensation and related benefits 9,682 10,923 Accrued warranty costs 3,095 3,265 Government institutions and income tax payable 4,017 11,566 Accrued expenses 2,283 2,561 Operating lease obligations 1,040 1,018 51,130 56,137 |
Statements of Operations (Table
Statements of Operations (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Income Statement Related Disclosures [Abstract] | |
Schedule of Selected Selling, General and Administrative Expenses Data | Six months ended June 30, Year ended December 31, 2022 2021 2021 U.S. Dollars (in thousands) Selling (1) 18,840 16,635 33,614 General and administrative 5,611 4,653 9,359 24,451 21,288 42,973 (1) Including shipping and handling costs 980 840 1,867 |
Schedule of Selected Financial Income (Expenses) Data | Six months ended June 30, Year ended December 31, 2022 2021 2021 U.S. Dollars (in thousands) Interest income 2,488 561 1,408 Amortization of issuance costs of convertible notes (547 ) - (113 ) Other, net (1) (1,081 ) 1 (265 ) 860 562 1,030 (1) Including foreign currency expense resulting from transactions not denominated in U.S. Dollars (871 ) 151 (351 ) |
Nature of Operations (Narrative
Nature of Operations (Narrative) (Details) | Jun. 30, 2022 |
Priortech Ltd [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Ownership percentage | 21% |
Chroma Ate Inc [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Ownership percentage | 17.70% |
Shareholders' Equity (Narrative
Shareholders' Equity (Narrative) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share based compensation expense | $ 5,592 | $ 2,681 | $ 5,815 |
Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of stock options granted | 416,840 | ||
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of stock options granted | 602,540 | ||
Vesting period | 4 years |
Supplementary Financial State_3
Supplementary Financial Statements Information (Currencies) (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Cash and Cash Equivalents [Line Items] | ||||
Cash and cash equivalents | $ 56,041 | $ 241,943 | $ 80,339 | $ 105,815 |
US Dollars [Member] | ||||
Cash and Cash Equivalents [Line Items] | ||||
Cash and cash equivalents | 32,542 | 225,283 | ||
New Israeli Shekels [Member] | ||||
Cash and Cash Equivalents [Line Items] | ||||
Cash and cash equivalents | 21,563 | 13,566 | ||
Other Currencies [Member] | ||||
Cash and Cash Equivalents [Line Items] | ||||
Cash and cash equivalents | $ 1,936 | $ 3,094 |
Supplementary Financial State_4
Supplementary Financial Statements Information (Inventories) (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Inventory Disclosure [Abstract] | ||
Components | $ 41,852 | $ 33,212 |
Work in process | 15,457 | 12,688 |
Finished products (including systems at customer locations not yet sold) | 17,644 | 18,009 |
Total inventories | 74,953 | 63,909 |
Current assets | 70,075 | 58,759 |
Long-term assets | $ 4,878 | $ 5,150 |
Supplementary Financial State_5
Supplementary Financial Statements Information (Other Current Assets) (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Current assets | ||
Due from Government institutions | $ 2,639 | $ 2,623 |
Interest receivable | 1,638 | 463 |
Prepaid expenses | 2,380 | 2,025 |
Other | 840 | 542 |
Other current assets | $ 7,497 | $ 5,653 |
Supplementary Financial State_6
Supplementary Financial Statements Information (Property, Plant and Equipment, Net) (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 50,222 | $ 43,336 |
Less accumulated depreciation | 19,803 | 17,936 |
Fixed assets, net | 30,419 | 25,400 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 863 | 863 |
Building [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 16,444 | 15,208 |
Machinery and equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 17,855 | 13,911 |
Office furniture and equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 943 | 881 |
Computer equipment and software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 6,377 | 5,383 |
Automobiles [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 396 | 479 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 1,718 | 1,642 |
Right of use assets [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 5,626 | $ 4,969 |
Supplementary Financial State_7
Supplementary Financial Statements Information (Intangible Assets, Net) (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Patent registration costs | $ 2,067 | $ 2,038 |
Accumulated amortization and impairment | 1,483 | 1,428 |
Total intangible assets, net | $ 584 | $ 610 |
Supplementary Financial State_8
Supplementary Financial Statements Information (Other Current Liabilities) (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Accounts Payable and Accrued Liabilities, Current [Abstract] | ||
Commissions | $ 19,256 | $ 15,967 |
Advances from customers and deferred revenues | 11,757 | 10,837 |
Accrued employee compensation and related benefits | 9,682 | 10,923 |
Accrued warranty costs | 3,095 | 3,265 |
Government institutions and income tax payable | 4,017 | 11,566 |
Accrued expenses | 2,283 | 2,561 |
Operating lease obligations | 1,040 | 1,018 |
Total other current liabilities | $ 51,130 | $ 56,137 |
Statements of Operations (Selli
Statements of Operations (Selling, general and administrative expenses) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | ||
Income Statement Related Disclosures [Abstract] | ||||
Selling | [1] | $ 18,840 | $ 16,635 | $ 33,614 |
General and administrative | 5,611 | 4,653 | 9,359 | |
Total selling, general and administrative expenses | 24,451 | 21,288 | 42,973 | |
Shipping and handling costs | $ 980 | $ 840 | $ 1,867 | |
[1]Including shipping and handling costs |
Statements of Operations (Finan
Statements of Operations (Financial income (expenses), net) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | ||
Income Statement Related Disclosures [Abstract] | ||||
Interest income | $ 2,488 | $ 561 | $ 1,408 | |
Amortization of issuance costs of convertible notes | (547) | 0 | (113) | |
Other, net | [1] | (1,081) | 1 | (265) |
Financial income (expenses), net | 860 | 562 | 1,030 | |
Foreign currency expense | $ (871) | $ 151 | $ (351) | |
[1]Including foreign currency expense resulting from transactions not denominated in U.S. Dollars |