CEVA (CEVA) 10-Q9 May 182018 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2018	May 02, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	CEVA
Entity Registrant Name	CEVA INC
Entity Central Index Key	1,173,489
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		22,221,045

INTERIM CONDENSED CONSOLIDATED

INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 18,382	$ 21,739
Short term bank deposits	33,269	34,432
Marketable securities	85,212	82,664
Trade receivables	13,902	14,480
Accrued revenues	9,425	2,014
Prepaid expenses and other current assets	4,136	3,747
Total current assets	164,326	159,076
Long term bank deposits	45,967	44,518
Severance pay fund	9,086	8,910
Deferred tax assets	4,085	3,643
Property and equipment, net	6,805	6,926
Goodwill	46,612	46,612
Intangible assets, net	3,583	1,742
Investments in other company	1,806	1,806
Other long-term assets	4,272	3,579
Total long-term assets	122,216	117,736
Total assets	286,542	276,812
Current liabilities:
Trade payables	499	392
Deferred revenues	4,973	4,399
Accrued expenses and other payables	4,113	3,927
Accrued payroll and related benefits	13,958	14,077
Total current liabilities	23,543	22,795
Long term liabilities:
Accrued severance pay	9,784	9,347
Other long term liabilities	400
Total long-term liabilities	10,184	9,347
Stockholders' equity:
Preferred Stock: $0.001 par value: 5,000,000 shares authorized; none issued and outstanding
Common Stock: $0.001 par value: 60,000,000 shares authorized; 23,595,160 shares issued at March 31, 2018 (unaudited) and December 31, 2017. 22,220,608 and 22,064,007 shares outstanding at March 31, 2018 (unaudited) and December 31, 2017, respectively	22	22
Additional paid in-capital	217,923	217,417
Treasury stock at cost (1,374,552 and 1,531,153 shares of common stock at March 31, 2018 (unaudited) and December 31, 2017, respectively)	(24,146)	(26,056)
Accumulated other comprehensive loss	(1,188)	(586)
Retained earnings	60,204	53,873
Total stockholders' equity	252,815	244,670
Total liabilities and stockholders' equity	$ 286,542	$ 276,812

INTERIM CONDENSED CONSOLIDATED3

INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	5,000,000	5,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	60,000,000	60,000,000
Common Stock, shares issued	23,595,160	23,595,160
Common Stock, shares outstanding	22,220,608	22,064,007
Treasury stock, shares	1,374,552	1,531,153

INTERIM CONDENSED CONSOLIDATED4

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Licensing and related revenue	$ 10,083	$ 9,535
Royalties	7,486	11,752
Total revenues	17,569	21,287
Cost of revenues	1,972	1,696
Gross profit	15,597	19,591
Operating expenses:
Research and development, net	12,016	9,873
Sales and marketing	3,176	2,938
General and administrative	2,954	2,125
Amortization of intangible assets	359	309
Total operating expenses	18,505	15,245
Operating income (loss)	(2,908)	4,346
Financial income, net	927	571
Income (loss) before taxes on income	(1,981)	4,917
Income taxes	201	810
Net income	$ (2,182)	$ 4,107
Basic net income (loss) per share	$ (0.10)	$ 0.19
Diluted net income (loss) per share	$ (0.10)	$ 0.19
Weighted-average shares used to compute net income (loss) per share (in thousands):
Basic	22,148	21,398
Diluted	22,148	22,187

INTERIM CONDENSED CONSOLIDATED5

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income (loss):	$ (2,182)	$ 4,107
Available-for-sale securities:
Changes in unrealized losses	(680)	169
Reclassification adjustments for (gains) losses included in net income	(4)	38
Net change	(684)	207
Cash flow hedges:
Changes in unrealized gains (losses)	(24)	182
Reclassification adjustments for (gains) losses included in net income	19	(146)
Net change	(5)	36
Other comprehensive income (loss) before tax	(689)	243
Income tax expense (benefit) related to components of other comprehensive income (loss)	(87)	35
Other comprehensive income (loss), net of taxes	(602)	208
Comprehensive income (loss)	$ (2,784)	$ 4,315

INTERIM CONDENSED CONSOLIDATED6

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net income (loss)	$ (2,182)	$ 4,107
Adjustments required to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	576	443
Amortization of intangible assets	359	309
Equity-based compensation	2,771	1,949
Realized (gain) loss, net on sale of available-for-sale marketable securities	(4)	38
Amortization of premiums on available-for-sale marketable securities	236	304
Unrealized foreign exchange (gain) loss	(73)	27
Changes in operating assets and liabilities:
Trade receivables and accrued revenues	2,366	1,266
Prepaid expenses and other assets	(1,619)	(1,738)
Accrued interest on bank deposits	(326)	114
Deferred tax, net	(355)	(355)
Trade payables	102	(220)
Deferred revenues	574	25
Accrued expenses and other payables	(780)	(151)
Accrued payroll and related benefits	(129)	63
Accrued severance pay, net	267	108
Net cash provided by operating activities	1,783	6,289
Cash flows from investing activities:
Purchase of property and equipment	(455)	(1,435)
Purchase and capitalization of intangible assets	(850)
Investment in bank deposits	(1,286)	(21,000)
Proceeds from bank deposits	1,298	10,500
Investment in available-for-sale marketable securities	(9,505)	(10,696)
Proceeds from maturity of available-for-sale marketable securities	3,762	2,243
Proceeds from sale of available-for-sale marketable securities	2,279	5,931
Net cash used in investing activities	(4,757)	(14,457)
Cash flows from financing activities:
Purchase of treasury stock	(1,459)
Proceeds from exercise of stock-based awards	1,062	2,363
Net cash provided by (used in) financing activities	(397)	2,363
Effect of exchange rate changes on cash and cash equivalents	14	25
Decrease in cash and cash equivalents	(3,357)	(5,780)
Cash and cash equivalents at the beginning of the period	21,739	18,401
Cash and cash equivalents at the end of the period	18,382	12,621
Supplemental information of cash-flow activities:
Income and withholding taxes, net of refunds	1,355	1,280
Non-cash transactions:
Cumulative effect of adoption of new accounting standard	8,555
Property, Plant and Equipment
Non-cash transactions:
Intangible assets purchases incurred but unpaid at period end		$ 29
Finite-Lived Intangible Assets
Non-cash transactions:
Intangible assets purchases incurred but unpaid at period end	$ 1,350

BUSINESS

BUSINESS	3 Months Ended
BUSINESS	Mar. 31, 2018
Accounting Policies [Abstract]
BUSINESS	NOTE 1: BUSINESS The financial information in this quarterly report includes the results of CEVA, Inc. and its subsidiaries (the “Company” or “CEVA”). CEVA licenses a family of signal processing platforms and artificial intelligence (AI) processors. These intellectual properties (“IP”) include programmable DSP cores and application-specific platforms for advanced imaging, computer vision, deep learning, sound, voice and audio processing, as well as long range wireless technologies for LTE/5G baseband processing in IoT, handsets and infrastructure, short range wireless platforms for Wi-Fi CEVA’s technologies are licensed to leading semiconductor and original equipment manufacturer (OEM) companies. These companies design, manufacture, market and sell application-specific integrated circuits (“ASICs”) and application-specific standard products (“ASSPs”) based on CEVA’s technology to wireless, consumer electronics and automotive companies for incorporation into a wide variety of end products.

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2: BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The interim condensed consolidated financial statements have been prepared according to U.S Generally Accepted Accounting Principles (“U.S. GAAP”). The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018. For further information, reference is made to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K The significant accounting policies applied in the annual consolidated financial statements of the Company as of December 31, 2017, contained in the Company’s Annual Report on Form 10-K Changes in accounting policies as a result of adopting Topic 606 and nature of goods Effective as of January 1, 2018, the Company has followed the provisions of Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers The following is a description of principal activities from which the Company generates revenue. Revenues are recognized when control of the promised goods or services are transferred to the customers, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company determines revenue recognition through the following steps: • identification of the contract with a customer; • identification of the performance obligations in the contract; • determination of the transaction price; • allocation of the transaction price to the performance obligations in the contract; and • recognition of revenue when, or as, the Company satisfies a performance obligation. The Company enters into contracts that can include various combinations of products and services, as detailed below, which are generally capable of being distinct, and accounted for as separate performance obligations. The Company generates its revenues from (1) licensing intellectual properties, which in certain circumstances are modified for customer-specific requirements, (2) royalty revenues, and (3) other revenues, which include revenues from support, training and sale of development systems. The Company accounts for its IP license revenues and related services, which provide the Company’s customers with rights to use the Company’s IP, in accordance with ASC 606. A license may be perpetual or time limited in its application. In accordance with ASC 606, the Company will continue to recognize revenue from IP license at the time of delivery when the customer accepts control of the IP, as the IP is functional without professional services, updates and technical support. The Company has concluded that its IP license is distinct as the customer can benefit from the software on its own. Most of the Company’s contracts with customers contain multiple performance obligations. For these contracts, the Company accounts for individual performance obligations separately, if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. Standalone selling prices of IP license are typically estimated using the residual approach. Standalone selling prices of services are typically estimated based on observable transactions when these services are sold on a standalone basis. When contracts involve a significant financing component, the Company adjusts the promised amount of consideration for the effects of the time value of money if the timing of payments agreed to by the parties to the contract (either explicitly or implicitly) provide the customer with a significant benefit of financing, unless the financing period is under one year and only after the products or services were provided, which is a practical expediency permitted under ASC 606. Revenues from contracts that involve significant customization of the Company’s IP to customer-specific specifications are performance obligations the Company generally accounts for as performance obligations satisfied over time. The underlying deliverable is owned and controlled by the customer, and does not create an asset with an alternative use to the Company. The Company recognizes revenue on such contracts using cost based input methods, which recognize revenue and gross profit as work is performed based on a ratio between actual costs incurred compared to the total estimated costs for the contract. Provisions for estimated losses on uncompleted contracts are made during the period in which such losses are first determined, in the amount of the estimated loss on the entire contract. Revenues that are derived from the sale of a licensee’s products that incorporate the Company’s IP are classified as royalty revenues. Royalty revenues are recognized during the quarter in which the sale of the product incorporating the Company’s IP occurs. Royalties are calculated either as a percentage of the revenues received by the Company’s licensees on sales of products incorporating the Company’s IP or on a per unit basis, as specified in the agreements with the licensees. The Company receives the actual sales data from its customers after the quarter ends and accounts for it as accrued revenue. When the Company does not receive actual sales data from the customer prior to the finalization of its financial statements, royalty revenues are recognized based on the Company’s estimation of the customers’ sales during the quarter. In addition to license fees, contracts with customers generally contain an agreement to provide for training and post contract support, which consists of telephone or e-mail Revenues from the sale of development systems are recognized when control of the promised goods or services are transferred to the customers. Deferred revenues, which represent a contract liability, include unearned amounts received under license agreements, unearned technical support and amounts paid by customers not yet recognized as revenues. The Company capitalizes sales commission as costs of obtaining a contract when they are incremental and, if they are expected to be recovered, amortized consistently with the pattern of transfer of the good or service to which the asset relates. If the expected amortization period is one year or less, the commission fee is expensed when incurred. Changes in accounting policies as a result of adopting ASU No. 2016-01, Beginning January 1, 2018, the Company has followed the provisions of Accounting Standards Update (“ASU”) No. 2016-01, Reclassification Certain amounts in the prior years’ financial statements have been reclassified to conform to the current year’s presentation. These amounts are associated with trade receivables and accrued revenues. Such reclassifications have no effect on stockholders’ equity or net income as previously reported. Use of Estimates The preparation of the interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company’s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the interim condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

REVENUE RECOGNITION

REVENUE RECOGNITION	3 Months Ended
REVENUE RECOGNITION	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	NOTE 3: REVENUE RECOGNITION In May 2014, the Financial Accounting Standards Board (“FASB”) issued new guidance related to revenue recognition, which outlines a comprehensive revenue recognition model and supersedes most current revenue recognition guidance. ASC 606 requires a company to recognize revenue as control of goods or services transfers to a customer at an amount that reflects the expected consideration to be received in exchange for those goods or services. It defines a five-step approach for recognizing revenue, which may require a company to use more judgment and make more estimates than under the prior guidance. The Company adopted ASC 606 on January 1, 2018 for all open contracts at the date of initial application, and applied the standard using modified retrospective approach, with the cumulative effect of applying ASC 606 recognized as an adjustment to the opening retained earnings balance. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior period amounts are not adjusted and continue to be reported under the accounting standards in effect for the prior period. The Company recorded a net increase to opening retained earnings of $8,555 as of January 1, 2018 due to the cumulative impact of adopting ASC 606. The impact to revenues for the three months ended March 31, 2018 was a decrease of $1,963 as a result of adopting ASC 606. In respect to the Company’s licensing business, under ASC 606, certain deliverables may now be considered as distinct performance obligations separate from other performance obligations, and will be measured using the relative standalone selling price basis, and recognized as revenue accordingly. Nevertheless, the adoption of ASC 606 for licensing and related revenues did not have a significant impact on the Company’s financial statements. In respect to the Company’s royalty business, ASC 606 did have a significant impact. Under the accounting standards in effect during prior periods, the Company recognized sales-based royalties as revenues during the quarter which such royalties were reported by licensees, which reflected the licensees’ prior quarter sales and when all other revenue recognition criteria were met. Under ASC 606, the Company is required to estimate and recognize sales-based royalties during the period which the associated sales occur. Accordingly, the Company has an increase in accrued revenues of $6,611 in the statement of financial position. Under ASC 606, an entity recognizes revenue when or as it satisfies a performance obligation by transferring IP license or services to the customer, either at a point in time or over time. The Company recognizes most of its revenues at a point in time upon delivery of its IPs. The Company recognizes revenue over time on significant license customization contracts that are covered by contract accounting standards using cost inputs to measure progress toward completion of its performance obligations, which is similar to the method prior to the adoption of ASC 606. The following table includes estimated revenue expected to be recognized in future periods related to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period. The estimated revenues do not include amounts of royalties or unexercised contract renewals: Remainder 2019 2020 2021 License and related revenues $ 7,340 $ 5,067 $ 3,000 $ 1,500 In connection with the adoption of ASC 606, the Company is required to capitalize incremental costs that are related to sales during the period, consisting primarily of sales commissions earned when contracts are signed. As of January 1, 2018, the date the Company adopted ASC 606, the Company capitalized $239 in contract acquisition costs related to contracts that were not completed. For contracts that have a duration of less than one year, the Company follows ASC 606’s practical expediency, and expenses these costs when incurred; for contracts with life exceeding one year, the Company records these costs in proportion to each completed contract performance obligation. For the three months ended March 31, 2018, the amount of amortization was $11 and there was no impairment loss in relation to costs capitalized. Disaggregation of revenue: The following table provides information about disaggregated revenue by primary geographical market, major product line and timing of revenue recognition (in thousands): Three months ended March 31, 2018 Licensing and Royalties Total Primary geographical markets United States $ 1,360 $ 347 $ 1,707 Europe and Middle East 1,338 1,115 2,453 Asia Pacific 7,385 6,024 13,409 Total $ 10,083 $ 7,486 $ 17,569 Major product/service lines DSP products (DSP cores and platforms) $ 7,375 $ 6,878 $ 14,253 Connectivity products (Bluetooth, Wi-Fi 2,708 608 3,316 Total $ 10,083 $ 7,486 $ 17,569 Timing of revenue recognition Products transferred at a point in time $ 7,524 $ 7,486 $ 15,010 Products and services transferred over time 2,559 — 2,559 Total $ 10,083 $ 7,486 $ 17,569 Contract balances: The following table provides information about trade receivables, contract assets and contract liabilities from contracts with customers (in thousands): March 31, 2018 Trade receivables $ 13,902 Accrued revenues (short-term contract assets) 2,455 Accrued revenues (royalties) 6,970 Deferred revenues (short-term contract liabilities) 4,973 The Company receives payments from customers based upon contractual payment schedules; trade receivable are recorded when the right to consideration becomes unconditional, and an invoice is issued to the customer. Contract assets include amounts related to the Company’s contractual right to consideration for completed performance objectives not yet invoiced. Accrued revenues associated with royalties are recorded as the Company recognizes revenues from royalties earned during the quarter, not yet invoiced, either by actual sales data received from the customers, or, when applicable, by estimation. Contract liabilities (deferred revenue) include payments received in advance of performance under the contract, and are realized with the associated revenue recognized under the contract. During the three months ended March 31, 2018, the Company recognized $1,295 that was included in deferred revenues (short-term contract liability) balance at January 1, 2018. In accordance with ASC 606, the disclosure of the impact of adoption to the Company’s condensed consolidated statements of income and balance sheets was as follows: Three months ended March 31, 2018 As reported Balance Effect of Revenues: Licensing and related revenue $ 10,083 $ 9,564 $ 519 Royalties 7,486 9,968 (2,482 ) Total revenues 17,569 19,532 (1,963 ) Cost of revenues 1,972 1,972 — Gross profit 15,597 17,560 (1,963 ) Operating expenses: Sales and marketing 3,176 3,166 10 Other operating expenses 15,329 15,329 — Total operating expenses 18,505 18,495 10 Operating income (2,908 ) (935 ) (1,973 ) Financial income, net 927 927 — Income (loss) before taxes on income (1,981 ) (8 ) (1,973 ) Income taxes 201 464 (263 ) Net income (loss) $ (2,182 ) $ (472 ) $ (1,710 ) Basic net income per share $ (0.10 ) $ (0.02 ) $ (0.08 ) Diluted net income per share $ (0.10 ) $ (0.02 ) $ (0.08 ) March 31, 2018 (unaudited) As reported Balance Effect of Assets: Trade receivables $ 13,902 $ 13,856 $ 46 Accrued revenues $ 9,425 $ 2,314 $ 7,111 Prepaid expenses and other current assets $ 4,136 $ 4,531 $ (395 ) Liabilities: Deferred revenues $ 4,973 $ 5,056 $ (83 ) Stockholders’ Equity: Retained earnings $ 60,204 $ 53,359 $ 6,845 Practical Expediency and Exemptions The Company generally expenses sales commissions when incurred because the amortization period would have been less than one year. The Company records these costs within sales and marketing expenses on the Company’s interim condensed consolidated statements of income. The Company does not assess whether a contract has a significant financing component if the expectation at contract inception is such that the period between payment by the customer and the transfer of the promised goods or services to the customer will be one year or less.

MARKETABLE SECURITIES

MARKETABLE SECURITIES	3 Months Ended
MARKETABLE SECURITIES	Mar. 31, 2018
Cash and Cash Equivalents [Abstract]
MARKETABLE SECURITIES	NOTE 4: MARKETABLE SECURITIES The following is a summary of available-for-sale March 31, 2018 (Unaudited) Amortized Gross Gross Fair Available-for-sale Corporate bonds $ 9,016 $ — $ (20 ) $ 8,996 9,016 — (20 ) 8,996 Available-for-sale Certificate of deposits 747 — — 747 Government bonds 501 — (10 ) 491 Corporate bonds 76,310 37 (1,369 ) 74,978 77,558 37 (1,379 ) 76,216 Total $ 86,574 $ 37 $ (1,399 ) $ 85,212 December 31, 2017 (Audited) Amortized Gross Gross Fair Available-for-sale Corporate bonds $ 11,803 $ 3 $ (12 ) $ 11,794 11,803 3 (12 ) 11,794 Available-for-sale Certificate of deposits 747 — — 747 Government bonds 501 — (6 ) 495 Corporate bonds 70,291 14 (677 ) 69,628 71,539 14 (683 ) 70,870 Total $ 83,342 $ 17 $ (695 ) $ 82,664 The following table presents gross unrealized losses and fair values for those investments that were in an unrealized loss position as of March 31, 2018 and December 31, 2017, and the length of time that those investments have been in a continuous loss position: Less than 12 months 12 months or greater Fair Gross unrealized Fair Gross unrealized As of March 31, 2018 (unaudited) $ 49,387 $ (883 ) $ 22,135 $ (516 ) As of December 31, 2017 $ 49,921 $ (411 ) $ 22,960 $ (284 ) As of March 31, 2018 and December 31, 2017, management believes the impairments are not other than temporary and therefore the impairment losses were recorded in accumulated other comprehensive income (loss). The following table presents gross realized gains and losses from sale of available-for-sale Three months ended 2018 (unaudited) 2017 (unaudited) Gross realized gains from sale of available-for-sale $ 4 $ — Gross realized losses from sale of available-for-sale $ — $ (38 )

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	3 Months Ended
FAIR VALUE MEASUREMENT	Mar. 31, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	NOTE 5: FAIR VALUE MEASUREMENT FASB ASC No. 820, “Fair Value Measurements and Disclosures” defines fair value, establishes a framework for measuring fair value. Fair value is an exit price, representing the amount that would be received for selling an asset or paid for the transfer of a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. A three-tier fair value hierarchy is established as a basis for considering such assumptions and for inputs used in the valuation methodologies in measuring fair value: Level I Unadjusted quoted prices in active markets that are accessible on the measurement date for identical, unrestricted assets or liabilities; Level II Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level III Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). The Company measures its marketable securities and foreign currency derivative contracts at fair value. Marketable securities and foreign currency derivative contracts are classified within Level II as the valuation inputs are based on quoted prices and market observable data of similar instruments. The table below sets forth the Company’s assets and liabilities measured at fair value by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Description March 31, 2018 Level I Level II Level III Assets Marketable securities: Certificate of deposits $ 747 $ — $ 747 $ — Government bonds 491 — 491 — Corporate bonds 83,974 — 83,974 — Description March 31, 2018 Level I Level II Level III Liabilities: Foreign exchange contracts 5 — 5 — Description December 31, 2017 Level I Level II Level III Assets: Marketable securities: Certificate of deposits $ 747 $ — $ 747 $ — Government bonds 495 — 495 — Corporate bonds 81,422 — 81,422 —

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET	3 Months Ended
INTANGIBLE ASSETS, NET	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS, NET	NOTE 6: INTANGIBLE ASSETS, NET Three months ended March 31, 2018 Year ended December 31, 2017 Weighted Gross Accumulated Net Gross Accumulated Net Intangible assets – amortizable: Customer relationships 4.5 $ 272 $ 227 $ 45 $ 272 $ 211 $ 61 Customer backlog 1.5 93 93 — 93 93 — Core technologies 5.1 5,796 4,325 1,471 5,796 4,115 1,681 NB-IoT 7.0 2,200 133 2,067 — — — Total intangible assets $ 8,361 $ 4,778 $ 3,583 $ 6,161 $ 4,419 $ 1,742 (*) During the first quarter of 2018, the Company entered into an agreement to acquire certain NB-IoT Future estimated annual amortization charges are as follows: 2018 883 2019 1,154 2020 314 2021 314 2022 314 2023 314 2024 290 $ 3,583

GEOGRAPHIC INFORMATION AND MAJO

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA	3 Months Ended
GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA	Mar. 31, 2018
Segment Reporting [Abstract]
GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA	NOTE 7: GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA a. Summary information about geographic areas: The Company manages its business on the basis of one reportable segment: the licensing of intellectual property to semiconductor companies and electronic equipment manufacturers (see Note 1 for a brief description of the Company’s business). The following is a summary of revenues within geographic areas: Three months ended 2018 (unaudited) 2017 (unaudited) Revenues based on customer location: United States $ 1,707 $ 1,303 Europe and Middle East 2,453 3,931 Asia Pacific (1) (2) (3) 13,409 16,053 $ 17,569 $ 21,287 (1) China $ 6,152 $ 9,742 (2) S. Korea $ 2,802 $ 3,749 (3) Japan $ 2,624 $ * ) ) Less than 10% b. Major customer data as a percentage of total revenues: The following table sets forth the customers that represented 10% or more of the Company’s total revenues in each of the periods set forth below. Three months ended 2018 (unaudited) 2017 (unaudited) Customer A 16 % 25 % Customer B 15 % 17 % Customer C ) 11 % *) Less than 10%

NET INCOME (LOSS) PER SHARE OF

NET INCOME (LOSS) PER SHARE OF COMMON STOCK	3 Months Ended
NET INCOME (LOSS) PER SHARE OF COMMON STOCK	Mar. 31, 2018
Earnings Per Share [Abstract]
NET INCOME (LOSS) PER SHARE OF COMMON STOCK	NOTE 8: NET INCOME (LOSS) PER SHARE OF COMMON STOCK Basic net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during each period. Diluted net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during each period, plus dilutive potential shares of common stock considered outstanding during the period, in accordance with FASB ASC No. 260, “Earnings Per Share.” Three months ended 2018 (unaudited) 2017 (unaudited) Numerator: Net income (loss) $ (2,182 ) $ 4,107 Denominator (in thousands): Basic weighted-average common stock outstanding 22,148 21,398 Effect of stock -based awards — 789 Diluted weighted average common stock outstanding 22,148 22,187 Basic net income (loss) per share $ (0.10 ) $ 0.19 Diluted net income (loss) per share $ (0.10 ) $ 0.19 The weighted average number of shares related to outstanding equity-based awards excluded from the calculation of diluted net income per share, since their effect was anti-dilutive, was 104,000 shares for the three months ended March 31, 2017. The total number of shares related to the outstanding stock options excluded from the calculation of diluted net loss per share was 1,354,693 for the three months ended March 31, 2018.

COMMON STOCK AND STOCK-BASED CO

COMMON STOCK AND STOCK-BASED COMPENSATION PLANS	3 Months Ended
COMMON STOCK AND STOCK-BASED COMPENSATION PLANS	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
COMMON STOCK AND STOCK-BASED COMPENSATION PLANS	NOTE 9: COMMON STOCK AND STOCK-BASED COMPENSATION PLANS The Company grants stock options and stock appreciation rights (“SARs”) capped with a ceiling to employees and stock options to non-employee non-employee Number of Weighted Weighted Outstanding as of December 31, 2017 729,017 $ 19.77 5.2 $ 19,229 Granted — — Exercised (6,392 ) 15.94 Forfeited or expired (1,044 ) 18.51 Outstanding as of March 31, 2018 (2) 721,581 $ 19.81 5.0 $ 11,828 Exercisable as of March 31, 2018 (3) 527,310 $ 19.01 4.4 $ 9,065 (1) The SAR units are convertible for a maximum number of shares of the Company’s common stock equal to 75% of the SAR units subject to the grant. (2) Due to the ceiling imposed on the SAR grants, the outstanding amount equals a maximum of 656,498 shares of the Company’s common stock issuable upon exercise. (3) Due to the ceiling imposed on the SAR grants, the exercisable amount equals a maximum of 475,608 shares of the Company’s common stock issuable upon exercise. As of March 31, 2018, there was $416 of unrecognized compensation expense related to unvested stock options and SARs. This amount is expected to be recognized over a weighted-average period of 1.3 years. Starting in the second quarter of 2015, the Company granted to employees, including executive officers, and non-employee non-employee Number of Weighted Average Unvested as of December 31, 2017 560,616 $ 29.31 Granted 230,000 36.05 Vested (153,503 ) 25.92 Forfeited or expired (4,001 ) 34.10 Unvested as of March 31, 2018 633,112 $ 32.55 As of March 31, 2018, there was $16,513 of unrecognized compensation expense related to unvested RSUs. This amount is expected to be recognized over a weighted-average period of 1.6 years. The following table shows the total equity-based compensation expense included in the interim condensed consolidated statements of income: Three months ended 2018 (unaudited) 2017 (unaudited) Cost of revenue $ 157 $ 91 Research and development, net 1,269 871 Sales and marketing 454 289 General and administrative 891 698 Total equity-based compensation expense $ 2,771 $ 1,949 The fair value for rights to purchase shares of common stock under the Company’s employee stock purchase plan was estimated on the date of grant using the following assumptions: Three months ended 2018 (unaudited) 2017 (unaudited) Expected dividend yield 0% 0% Expected volatility 35%-42% 35%-46% Risk-free interest rate 0.7%-1.6% 0.5%-0.7% Contractual term of up to 24 months 24 months

DERIVATIVES AND HEDGING ACTIVIT

DERIVATIVES AND HEDGING ACTIVITIES	3 Months Ended
DERIVATIVES AND HEDGING ACTIVITIES	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES AND HEDGING ACTIVITIES	NOTE 10: DERIVATIVES AND HEDGING ACTIVITIES The Company follows the requirements of FASB ASC No. 815,” Derivatives and Hedging” which requires companies to recognize all of their derivative instruments as either assets or liabilities in the statement of financial position at fair value. The accounting for changes in fair value (i.e., gains or losses) of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging transaction and further, on the type of hedging transaction. For those derivative instruments that are designated and qualify as hedging instruments, a company must designate the hedging instrument, based upon the exposure being hedged, as a fair value hedge, cash flow hedge, or a hedge of a net investment in a foreign operation. Due to the Company’s global operations, it is exposed to foreign currency exchange rate fluctuations in the normal course of its business. The Company’s treasury policy allows it to offset the risks associated with the effects of certain foreign currency exposures through the purchase of foreign exchange forward or option contracts (“Hedging Contracts”). The policy, however, prohibits the Company from speculating on such Hedging Contracts for profit. To protect against the increase in value of forecasted foreign currency cash flow resulting from salaries paid in currencies other than the U.S. dollar during the year, the Company instituted a foreign currency cash flow hedging program. The Company hedges portions of the anticipated payroll of its non-U.S. For derivative instruments that are designated and qualify as a cash flow hedge (i.e., hedging the exposure to variability in expected future cash flows that is attributable to a particular risk), the effective portion of the gain or loss on the derivative instrument is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Any gain or loss on a derivative instrument in excess of the cumulative change in the present value of future cash flows of the hedged item is recognized in current earnings during the period of change. As of March 31, 2018 and December 31, 2017, the notional principal amount of the Hedging Contracts to sell U.S. dollars held by the Company was $500 and $0, respectively. The fair value of the Company’s outstanding derivative instruments is as follows: March 31, December 31, 2018 2017 Derivative liabilities Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ 5 $ — Total $ 5 $ — The Company recorded the fair value of derivative liabilities in “accrued expenses and other payables” on the Company’s interim condensed consolidated balance sheets. The increase (decrease) in unrealized gains (losses) recognized in “accumulated other comprehensive loss” on derivatives, before tax effect, is as follows: Three months ended 2018 (unaudited) 2017 (unaudited) Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ (19 ) $ 91 Foreign exchange forward contracts (5 ) 91 $ (24 ) $ 182 The net (gains) losses reclassified from “accumulated other comprehensive loss” into income are as follows: Three months ended 2018 (unaudited) 2017 (unaudited) Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ 14 $ (49 ) Foreign exchange forward contracts 5 (97 ) $ 19 $ (146 ) The Company recorded in cost of revenues and operating expenses a net loss of $19 and a net gain of $146 during the three months ended March 31, 2018 and 2017, respectively, related to its Hedging Contracts.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	3 Months Ended
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	Mar. 31, 2018
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	NOTE 11: ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables summarize the changes in accumulated balances of other comprehensive income (loss), net of taxes: Three months ended March 31, 2018 Three months ended March 31, 2017 Unrealized gains (losses) on available-for-sale Unrealized Total Unrealized gains (losses) on available-for-sale Unrealized Total Beginning balance $ (586 ) $ 0 $ (586 ) $ (502 ) $ 5 $ (497 ) Other comprehensive income (loss) before reclassifications (595 ) (21 ) (616 ) 147 164 311 Amounts reclassified from accumulated other comprehensive income (loss) (3 ) 17 14 28 (131 ) (103 ) Net current period other comprehensive income (loss) (598 ) (4 ) (602 ) 175 33 208 Ending balance $ (1,184 ) $ (4 ) $ (1,188 ) $ (327 ) $ 38 $ (289 ) The following table provides details about reclassifications out of accumulated other comprehensive income: Details about Accumulated Other Comprehensive Income Components Amount Reclassified Affected Line Item in the Statements of Income Three months ended 2018 2017 Unrealized gains (losses) on cash flow hedges $ (1 ) $ 3 Cost of revenues (16 ) 125 Research and development (1 ) 8 Sales and marketing (1 ) 10 General and administrative (19 ) 146 Total, before income taxes (2 ) 15 Income tax expense (benefit) (17 ) 131 Total, net of income taxes Unrealized gains (losses) on available-for-sale 4 (38 ) Financial income (loss), net 1 (10 ) Income tax expense (benefit) 3 (28 ) Total, net of income taxes $ (14 ) $ 103 Total, net of income taxes

SHARE REPURCHASE PROGRAM

SHARE REPURCHASE PROGRAM	3 Months Ended
SHARE REPURCHASE PROGRAM	Mar. 31, 2018
Equity [Abstract]
SHARE REPURCHASE PROGRAM	NOTE 12: SHARE REPURCHASE PROGRAM During the first quarter of 2018, the Company repurchased 41,322 shares of common stock at an average purchase price of $35.31 per share for an aggregate purchase price of $1,459. The Company did not repurchase any shares of its common stock during the first quarter of 2017. As of March 31, 2018, 269,734 shares of common stock remained available for repurchase pursuant to the Company’s share repurchase program. The repurchases of common stock are accounted for as treasury stock, and result in a reduction of stockholders’ equity. When treasury shares are reissued, the Company accounts for the reissuance in accordance with FASB ASC No. 505-30, paid-in

IMPACT OF RECENTLY ISSUED ACCOU

IMPACT OF RECENTLY ISSUED ACCOUNTING STANDARDS NOT YET ADOPTED	3 Months Ended
	Mar. 31, 2018
Accounting Changes and Error Corrections [Abstract]
IMPACT OF RECENTLY ISSUED ACCOUNTING STANDARDS NOT YET ADOPTED	NOTE 13: IMPACT OF RECENTLY ISSUED ACCOUNTING STANDARDS NOT YET ADOPTED In January 2016, the FASB issued ASU 2016-13, available-for-sale 2016-13 available-for-sale In February 2016, the FASB issued ASU 2016-02, In August 2017, the FASB issued ASU 2017-12, 2017-12”), 2017-12 In January 2018, the FASB released guidance on the accounting for tax on the global intangible low-taxed 10-K Effective no later than January 1, 2019, the Company will adopt the accounting standards update that allows for reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the TCJA. The update, which permits early adoption, is effective for annual reporting periods beginning after December 15, 2018, including interim periods within those annual periods. The Company continue to evaluate the requirements and does not expect the adoption to have a material effect on its condensed consolidated statements of financial position, operations and cash flows and on the disclosures contained in the notes to condensed consolidated financial statements.

BASIS OF PRESENTATION AND SUM20

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The interim condensed consolidated financial statements have been prepared according to U.S Generally Accepted Accounting Principles (“U.S. GAAP”). The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018. For further information, reference is made to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K The significant accounting policies applied in the annual consolidated financial statements of the Company as of December 31, 2017, contained in the Company’s Annual Report on Form 10-K
Changes in accounting policies as a result of adopting Topic 606 and nature of goods	Changes in accounting policies as a result of adopting Topic 606 and nature of goods Effective as of January 1, 2018, the Company has followed the provisions of Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers The following is a description of principal activities from which the Company generates revenue. Revenues are recognized when control of the promised goods or services are transferred to the customers, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company determines revenue recognition through the following steps: • identification of the contract with a customer; • identification of the performance obligations in the contract; • determination of the transaction price; • allocation of the transaction price to the performance obligations in the contract; and • recognition of revenue when, or as, the Company satisfies a performance obligation. The Company enters into contracts that can include various combinations of products and services, as detailed below, which are generally capable of being distinct, and accounted for as separate performance obligations. The Company generates its revenues from (1) licensing intellectual properties, which in certain circumstances are modified for customer-specific requirements, (2) royalty revenues, and (3) other revenues, which include revenues from support, training and sale of development systems. The Company accounts for its IP license revenues and related services, which provide the Company’s customers with rights to use the Company’s IP, in accordance with ASC 606. A license may be perpetual or time limited in its application. In accordance with ASC 606, the Company will continue to recognize revenue from IP license at the time of delivery when the customer accepts control of the IP, as the IP is functional without professional services, updates and technical support. The Company has concluded that its IP license is distinct as the customer can benefit from the software on its own. Most of the Company’s contracts with customers contain multiple performance obligations. For these contracts, the Company accounts for individual performance obligations separately, if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. Standalone selling prices of IP license are typically estimated using the residual approach. Standalone selling prices of services are typically estimated based on observable transactions when these services are sold on a standalone basis. When contracts involve a significant financing component, the Company adjusts the promised amount of consideration for the effects of the time value of money if the timing of payments agreed to by the parties to the contract (either explicitly or implicitly) provide the customer with a significant benefit of financing, unless the financing period is under one year and only after the products or services were provided, which is a practical expediency permitted under ASC 606. Revenues from contracts that involve significant customization of the Company’s IP to customer-specific specifications are performance obligations the Company generally accounts for as performance obligations satisfied over time. The underlying deliverable is owned and controlled by the customer, and does not create an asset with an alternative use to the Company. The Company recognizes revenue on such contracts using cost based input methods, which recognize revenue and gross profit as work is performed based on a ratio between actual costs incurred compared to the total estimated costs for the contract. Provisions for estimated losses on uncompleted contracts are made during the period in which such losses are first determined, in the amount of the estimated loss on the entire contract. Revenues that are derived from the sale of a licensee’s products that incorporate the Company’s IP are classified as royalty revenues. Royalty revenues are recognized during the quarter in which the sale of the product incorporating the Company’s IP occurs. Royalties are calculated either as a percentage of the revenues received by the Company’s licensees on sales of products incorporating the Company’s IP or on a per unit basis, as specified in the agreements with the licensees. The Company receives the actual sales data from its customers after the quarter ends and accounts for it as accrued revenue. When the Company does not receive actual sales data from the customer prior to the finalization of its financial statements, royalty revenues are recognized based on the Company’s estimation of the customers’ sales during the quarter. In addition to license fees, contracts with customers generally contain an agreement to provide for training and post contract support, which consists of telephone or e-mail Revenues from the sale of development systems are recognized when control of the promised goods or services are transferred to the customers. Deferred revenues, which represent a contract liability, include unearned amounts received under license agreements, unearned technical support and amounts paid by customers not yet recognized as revenues. The Company capitalizes sales commission as costs of obtaining a contract when they are incremental and, if they are expected to be recovered, amortized consistently with the pattern of transfer of the good or service to which the asset relates. If the expected amortization period is one year or less, the commission fee is expensed when incurred.
Changes in accounting policies as a result of adopting ASU No. 2016-01, "Financial Instruments - Recognition and Measurement of Financial Assets and Financial Liabilities"	Changes in accounting policies as a result of adopting ASU No. 2016-01, Beginning January 1, 2018, the Company has followed the provisions of Accounting Standards Update (“ASU”) No. 2016-01,
Reclassification	Reclassification Certain amounts in the prior years’ financial statements have been reclassified to conform to the current year’s presentation. These amounts are associated with trade receivables and accrued revenues. Such reclassifications have no effect on stockholders’ equity or net income as previously reported.
Use of Estimates	Use of Estimates The preparation of the interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company’s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the interim condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Impact of Recently Issued Accounting Standards Not Yet Adopted	In January 2016, the FASB issued ASU 2016-13, available-for-sale 2016-13 available-for-sale In February 2016, the FASB issued ASU 2016-02, In August 2017, the FASB issued ASU 2017-12, 2017-12”), 2017-12 In January 2018, the FASB released guidance on the accounting for tax on the global intangible low-taxed 10-K Effective no later than January 1, 2019, the Company will adopt the accounting standards update that allows for reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the TCJA. The update, which permits early adoption, is effective for annual reporting periods beginning after December 15, 2018, including interim periods within those annual periods. The Company continue to evaluate the requirements and does not expect the adoption to have a material effect on its condensed consolidated statements of financial position, operations and cash flows and on the disclosures contained in the notes to condensed consolidated financial statements.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	3 Months Ended
REVENUE RECOGNITION (Tables)	Mar. 31, 2018
Schedule of Estimated Revenue Expected to be Recognized in Future Related to Performance Obligations	The following table includes estimated revenue expected to be recognized in future periods related to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period. The estimated revenues do not include amounts of royalties or unexercised contract renewals: Remainder 2019 2020 2021 License and related revenues $ 7,340 $ 5,067 $ 3,000 $ 1,500
Summary of Disaggregated Revenue by Primary Geographical Market, Major Product Line and Timing	The following table provides information about disaggregated revenue by primary geographical market, major product line and timing of revenue recognition (in thousands): Three months ended March 31, 2018 Licensing and Royalties Total Primary geographical markets United States $ 1,360 $ 347 $ 1,707 Europe and Middle East 1,338 1,115 2,453 Asia Pacific 7,385 6,024 13,409 Total $ 10,083 $ 7,486 $ 17,569 Major product/service lines DSP products (DSP cores and platforms) $ 7,375 $ 6,878 $ 14,253 Connectivity products (Bluetooth, Wi-Fi 2,708 608 3,316 Total $ 10,083 $ 7,486 $ 17,569 Timing of revenue recognition Products transferred at a point in time $ 7,524 $ 7,486 $ 15,010 Products and services transferred over time 2,559 — 2,559 Total $ 10,083 $ 7,486 $ 17,569
Summary of Trade Receivables, Contract Assets and Contract Liabilities from Contracts with Customers	The following table provides information about trade receivables, contract assets and contract liabilities from contracts with customers (in thousands): March 31, 2018 Trade receivables $ 13,902 Accrued revenues (short-term contract assets) 2,455 Accrued revenues (royalties) 6,970 Deferred revenues (short-term contract liabilities) 4,973
ASU 2014-09
Schedule of Changes in Accumulated Balances of Other Comprehensive Income (Loss), Net of Taxes	In accordance with ASC 606, the disclosure of the impact of adoption to the Company’s condensed consolidated statements of income and balance sheets was as follows: Three months ended March 31, 2018 As reported Balance Effect of Revenues: Licensing and related revenue $ 10,083 $ 9,564 $ 519 Royalties 7,486 9,968 (2,482 ) Total revenues 17,569 19,532 (1,963 ) Cost of revenues 1,972 1,972 — Gross profit 15,597 17,560 (1,963 ) Operating expenses: Sales and marketing 3,176 3,166 10 Other operating expenses 15,329 15,329 — Total operating expenses 18,505 18,495 10 Operating income (2,908 ) (935 ) (1,973 ) Financial income, net 927 927 — Income (loss) before taxes on income (1,981 ) (8 ) (1,973 ) Income taxes 201 464 (263 ) Net income (loss) $ (2,182 ) $ (472 ) $ (1,710 ) Basic net income per share $ (0.10 ) $ (0.02 ) $ (0.08 ) Diluted net income per share $ (0.10 ) $ (0.02 ) $ (0.08 ) March 31, 2018 (unaudited) As reported Balance Effect of Assets: Trade receivables $ 13,902 $ 13,856 $ 46 Accrued revenues $ 9,425 $ 2,314 $ 7,111 Prepaid expenses and other current assets $ 4,136 $ 4,531 $ (395 ) Liabilities: Deferred revenues $ 4,973 $ 5,056 $ (83 ) Stockholders’ Equity: Retained earnings $ 60,204 $ 53,359 $ 6,845

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	3 Months Ended
MARKETABLE SECURITIES (Tables)	Mar. 31, 2018
Cash and Cash Equivalents [Abstract]
Summary of Available-for-Sale Marketable Securities	The following is a summary of available-for-sale March 31, 2018 (Unaudited) Amortized Gross Gross Fair Available-for-sale Corporate bonds $ 9,016 $ — $ (20 ) $ 8,996 9,016 — (20 ) 8,996 Available-for-sale Certificate of deposits 747 — — 747 Government bonds 501 — (10 ) 491 Corporate bonds 76,310 37 (1,369 ) 74,978 77,558 37 (1,379 ) 76,216 Total $ 86,574 $ 37 $ (1,399 ) $ 85,212 December 31, 2017 (Audited) Amortized Gross Gross Fair Available-for-sale Corporate bonds $ 11,803 $ 3 $ (12 ) $ 11,794 11,803 3 (12 ) 11,794 Available-for-sale Certificate of deposits 747 — — 747 Government bonds 501 — (6 ) 495 Corporate bonds 70,291 14 (677 ) 69,628 71,539 14 (683 ) 70,870 Total $ 83,342 $ 17 $ (695 ) $ 82,664
Summary of Gross Unrealized Losses and Fair Values on Investments	The following table presents gross unrealized losses and fair values for those investments that were in an unrealized loss position as of March 31, 2018 and December 31, 2017, and the length of time that those investments have been in a continuous loss position: Less than 12 months 12 months or greater Fair Gross unrealized Fair Gross unrealized As of March 31, 2018 (unaudited) $ 49,387 $ (883 ) $ 22,135 $ (516 ) As of December 31, 2017 $ 49,921 $ (411 ) $ 22,960 $ (284 )
Summary of Gross Realized Gains and Losses from Sale of Available-for-Sale Marketable Securities	The following table presents gross realized gains and losses from sale of available-for-sale Three months ended 2018 (unaudited) 2017 (unaudited) Gross realized gains from sale of available-for-sale $ 4 $ — Gross realized losses from sale of available-for-sale $ — $ (38 )

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	3 Months Ended
FAIR VALUE MEASUREMENT (Tables)	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurement	The table below sets forth the Company’s assets and liabilities measured at fair value by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Description March 31, 2018 Level I Level II Level III Assets Marketable securities: Certificate of deposits $ 747 $ — $ 747 $ — Government bonds 491 — 491 — Corporate bonds 83,974 — 83,974 — Description March 31, 2018 Level I Level II Level III Liabilities: Foreign exchange contracts 5 — 5 — Description December 31, 2017 Level I Level II Level III Assets: Marketable securities: Certificate of deposits $ 747 $ — $ 747 $ — Government bonds 495 — 495 — Corporate bonds 81,422 — 81,422 —

INTANGIBLE ASSETS, NET (Tables)

INTANGIBLE ASSETS, NET (Tables)	3 Months Ended
INTANGIBLE ASSETS, NET (Tables)	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	Three months ended March 31, 2018 Year ended December 31, 2017 Weighted Gross Accumulated Net Gross Accumulated Net Intangible assets – amortizable: Customer relationships 4.5 $ 272 $ 227 $ 45 $ 272 $ 211 $ 61 Customer backlog 1.5 93 93 — 93 93 — Core technologies 5.1 5,796 4,325 1,471 5,796 4,115 1,681 NB-IoT 7.0 2,200 133 2,067 — — — Total intangible assets $ 8,361 $ 4,778 $ 3,583 $ 6,161 $ 4,419 $ 1,742 (*) During the first quarter of 2018, the Company entered into an agreement to acquire certain NB-IoT
Summary of Future Estimated Annual Amortization Charges	Future estimated annual amortization charges are as follows: 2018 883 2019 1,154 2020 314 2021 314 2022 314 2023 314 2024 290 $ 3,583

GEOGRAPHIC INFORMATION AND MA25

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA (Tables)	3 Months Ended
GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA (Tables)	Mar. 31, 2018
Segment Reporting [Abstract]
Revenues Based on Customer Location	The following is a summary of revenues within geographic areas: Three months ended 2018 (unaudited) 2017 (unaudited) Revenues based on customer location: United States $ 1,707 $ 1,303 Europe and Middle East 2,453 3,931 Asia Pacific (1) (2) (3) 13,409 16,053 $ 17,569 $ 21,287 (1) China $ 6,152 $ 9,742 (2) S. Korea $ 2,802 $ 3,749 (3) Japan $ 2,624 $ * ) *) Less than 10%
Major Customers Data as Percentage of Total Revenues	The following table sets forth the customers that represented 10% or more of the Company’s total revenues in each of the periods set forth below. Three months ended 2018 (unaudited) 2017 (unaudited) Customer A 16 % 25 % Customer B 15 % 17 % Customer C * ) 11 % *) Less than 10%

NET INCOME (LOSS) PER SHARE O26

NET INCOME (LOSS) PER SHARE OF COMMON STOCK (Tables)	3 Months Ended
NET INCOME (LOSS) PER SHARE OF COMMON STOCK (Tables)	Mar. 31, 2018
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Net Income (Loss) Per Share	Diluted net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during each period, plus dilutive potential shares of common stock considered outstanding during the period, in accordance with FASB ASC No. 260, “Earnings Per Share.” Three months ended 2018 (unaudited) 2017 (unaudited) Numerator: Net income (loss) $ (2,182 ) $ 4,107 Denominator (in thousands): Basic weighted-average common stock outstanding 22,148 21,398 Effect of stock -based awards — 789 Diluted weighted average common stock outstanding 22,148 22,187 Basic net income (loss) per share $ (0.10 ) $ 0.19 Diluted net income (loss) per share $ (0.10 ) $ 0.19

COMMON STOCK AND STOCK-BASED 27

COMMON STOCK AND STOCK-BASED COMPENSATION PLANS (Tables)	3 Months Ended
COMMON STOCK AND STOCK-BASED COMPENSATION PLANS (Tables)	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Stock Option Activity	A summary of the Company’s stock option and SARs activities and related information for the three months ended March 31, 2018, are as follows: Number of Weighted Weighted Outstanding as of December 31, 2017 729,017 $ 19.77 5.2 $ 19,229 Granted — — Exercised (6,392 ) 15.94 Forfeited or expired (1,044 ) 18.51 Outstanding as of March 31, 2018 (2) 721,581 $ 19.81 5.0 $ 11,828 Exercisable as of March 31, 2018 (3) 527,310 $ 19.01 4.4 $ 9,065 (1) The SAR units are convertible for a maximum number of shares of the Company’s common stock equal to 75% of the SAR units subject to the grant. (2) Due to the ceiling imposed on the SAR grants, the outstanding amount equals a maximum of 656,498 shares of the Company’s common stock issuable upon exercise. (3) Due to the ceiling imposed on the SAR grants, the exercisable amount equals a maximum of 475,608 shares of the Company’s common stock issuable upon exercise.
Summary of Restricted Stock Units Activity	A summary of the Company’s RSU activities and related information for the three months ended March 31, 2018, are as follows: Number of Weighted Average Unvested as of December 31, 2017 560,616 $ 29.31 Granted 230,000 36.05 Vested (153,503 ) 25.92 Forfeited or expired (4,001 ) 34.10 Unvested as of March 31, 2018 633,112 $ 32.55
Equity-Based Compensation Expense Included in Interim Condensed Consolidated Statements of Income	The following table shows the total equity-based compensation expense included in the interim condensed consolidated statements of income: Three months ended 2018 (unaudited) 2017 (unaudited) Cost of revenue $ 157 $ 91 Research and development, net 1,269 871 Sales and marketing 454 289 General and administrative 891 698 Total equity-based compensation expense $ 2,771 $ 1,949
Assumptions Used to Estimate Fair Value of Employee Stock Purchase Plan	The fair value for rights to purchase shares of common stock under the Company’s employee stock purchase plan was estimated on the date of grant using the following assumptions: Three months ended 2018 (unaudited) 2017 (unaudited) Expected dividend yield 0% 0% Expected volatility 35%-42% 35%-46% Risk-free interest rate 0.7%-1.6% 0.5%-0.7% Contractual term of up to 24 months 24 months

DERIVATIVES AND HEDGING ACTIV28

DERIVATIVES AND HEDGING ACTIVITIES (Tables)	3 Months Ended
DERIVATIVES AND HEDGING ACTIVITIES (Tables)	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Outstanding Derivative Instruments	The fair value of the Company’s outstanding derivative instruments is as follows: March 31, December 31, 2018 2017 Derivative liabilities Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ 5 $ — Total $ 5 $ —
Increase (Decrease) in Unrealized Gains (Losses) Recognized in "Accumulated Other Comprehensive Loss" on Derivatives, Before Tax Effect	The increase (decrease) in unrealized gains (losses) recognized in “accumulated other comprehensive loss” on derivatives, before tax effect, is as follows: Three months ended 2018 (unaudited) 2017 (unaudited) Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ (19 ) $ 91 Foreign exchange forward contracts (5 ) 91 $ (24 ) $ 182
Net (Gains) Losses Reclassified from "Accumulated Other Comprehensive Loss"	The net (gains) losses reclassified from “accumulated other comprehensive loss” into income are as follows: Three months ended 2018 (unaudited) 2017 (unaudited) Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ 14 $ (49 ) Foreign exchange forward contracts 5 (97 ) $ 19 $ (146 )

ACCUMULATED OTHER COMPREHENSI29

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	3 Months Ended
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	Mar. 31, 2018
Equity [Abstract]
Changes in Accumulated Balances of Other Comprehensive Income (Loss), Net of Tax	The following tables summarize the changes in accumulated balances of other comprehensive income (loss), net of taxes: Three months ended March 31, 2018 Three months ended March 31, 2017 Unrealized gains (losses) on available-for-sale Unrealized Total Unrealized gains (losses) on available-for-sale Unrealized Total Beginning balance $ (586 ) $ 0 $ (586 ) $ (502 ) $ 5 $ (497 ) Other comprehensive income (loss) before reclassifications (595 ) (21 ) (616 ) 147 164 311 Amounts reclassified from accumulated other comprehensive income (loss) (3 ) 17 14 28 (131 ) (103 ) Net current period other comprehensive income (loss) (598 ) (4 ) (602 ) 175 33 208 Ending balance $ (1,184 ) $ (4 ) $ (1,188 ) $ (327 ) $ 38 $ (289 )
Details about Reclassification out of Accumulated Other Comprehensive Income Components	The following table provides details about reclassifications out of accumulated other comprehensive income: Details about Accumulated Other Comprehensive Income Components Amount Reclassified Affected Line Item in the Statements of Income Three months ended 2018 2017 Unrealized gains (losses) on cash flow hedges $ (1 ) $ 3 Cost of revenues (16 ) 125 Research and development (1 ) 8 Sales and marketing (1 ) 10 General and administrative (19 ) 146 Total, before income taxes (2 ) 15 Income tax expense (benefit) (17 ) 131 Total, net of income taxes Unrealized gains (losses) on available-for-sale 4 (38 ) Financial income (loss), net 1 (10 ) Income tax expense (benefit) 3 (28 ) Total, net of income taxes $ (14 ) $ 103 Total, net of income taxes

Revenue Recognition- Additional

Revenue Recognition- Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Jan. 01, 2018
Deferred Revenue
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred revenues (Short-term contract liability)	$ 1,295,000
ASU 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Impact to revenues	1,963,000
Capitalized contract acquisition costs		$ 239,000
Capitalized contract cost, amortization	11,000
Impairment loss in relation to costs capitalized	0
ASU 2014-09 \| Accrued Revenues
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New accounting pronouncement or change in accounting principle cumulative effect of change on equity or net assets	$ 6,611,000
ASU 2014-09 \| Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New accounting pronouncement or change in accounting principle cumulative effect of change on equity or net assets		$ 8,555,000

Schedule of Estimated Revenue E

Schedule of Estimated Revenue Expected to be Recognized in Future Related to Performance Obligations (Detail) $ in Thousands	Mar. 31, 2018USD ($)
Remainder of 2018
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue remaining performance obligation	$ 7,340
2,019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue remaining performance obligation	5,067
2,020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue remaining performance obligation	3,000
2,021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue remaining performance obligation	$ 1,500

Summary of Disaggregated Revenu

Summary of Disaggregated Revenue by Primary Geographical Market, Major Product Line and Timing (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Other Revenues [Line Items]
Licensing and related revenues	$ 10,083	$ 9,535
Royalties	7,486	11,752
Total	17,569	21,287
Transferred at Point in Time
Other Revenues [Line Items]
Licensing and related revenues	7,524
Royalties	7,486
Total	15,010
Transferred over Time
Other Revenues [Line Items]
Licensing and related revenues	2,559
Total	2,559
DSP Products
Other Revenues [Line Items]
Licensing and related revenues	7,375
Royalties	6,878
Total	14,253
Connectivity Products
Other Revenues [Line Items]
Licensing and related revenues	2,708
Royalties	608
Total	3,316
United States
Other Revenues [Line Items]
Licensing and related revenues	1,360
Royalties	347
Total	1,707	1,303
Europe and Middle East
Other Revenues [Line Items]
Licensing and related revenues	1,338
Royalties	1,115
Total	2,453	3,931
Asia Pacific
Other Revenues [Line Items]
Licensing and related revenues	7,385
Royalties	6,024
Total	$ 13,409	$ 16,053

Schedule of Trade Receivables,

Schedule of Trade Receivables, Contract Assets and Contract Liabilities from Contracts with Customers (Detail) $ in Thousands	Mar. 31, 2018USD ($)
Trade Receivables
Other Revenues [Line Items]
Contract with customer asset, balance	$ 13,902
Accrued Revenues
Other Revenues [Line Items]
Contract with customer asset, balance	2,455
Accrued Revenues \| Royalties
Other Revenues [Line Items]
Contract with customer asset, balance	6,970
Deferred Revenue
Other Revenues [Line Items]
Contract with customer liability, balance	$ 4,973

Schedule of Changes in Accumula

Schedule of Changes in Accumulated Balances of Other Comprehensive Income (Loss), Net of Taxes (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Revenues:
Licensing and related revenue	$ 10,083	$ 9,535
Royalties	7,486	11,752
Total revenues	17,569	21,287
Cost of revenues	1,972	1,696
Gross profit	15,597	19,591
Operating expenses:
Sales and marketing	3,176	2,938
Total operating expenses	18,505	15,245
Operating income	(2,908)	4,346
Financial income, net	927	571
Income (loss) before taxes on income	(1,981)	4,917
Income taxes	201	810
Net income (loss)	$ (2,182)	$ 4,107
Basic net income per share	$ (0.10)	$ 0.19
Diluted net income per share	$ (0.10)	$ 0.19
Assets:
Trade receivables	$ 13,902		$ 14,480
Accrued revenues	9,425		2,014
Prepaid expenses and other current assets	4,136		3,747
Liabilities:
Deferred revenues	4,973		4,399
Stockholders' equity:
Retained earnings	60,204		$ 53,873
Accumulated Other Comprehensive Income (Loss)
Revenues:
Licensing and related revenue	10,083
Royalties	7,486
Total revenues	17,569
Cost of revenues	1,972
Gross profit	15,597
Operating expenses:
Sales and marketing	3,176
Other operating expenses	15,329
Total operating expenses	18,505
Operating income	(2,908)
Financial income, net	927
Income (loss) before taxes on income	(1,981)
Income taxes	201
Net income (loss)	$ (2,182)
Basic net income per share	$ (0.10)
Diluted net income per share	$ (0.10)
Assets:
Trade receivables	$ 13,902
Accrued revenues	9,425
Prepaid expenses and other current assets	4,136
Liabilities:
Deferred revenues	4,973
Stockholders' equity:
Retained earnings	60,204
Accumulated Other Comprehensive Income (Loss) \| Calculated under Revenue Guidance in Effect before Topic 606 [Member] \| ASU 2014-09
Revenues:
Licensing and related revenue	9,564
Royalties	9,968
Total revenues	19,532
Cost of revenues	1,972
Gross profit	17,560
Operating expenses:
Sales and marketing	3,166
Other operating expenses	15,329
Total operating expenses	18,495
Operating income	(935)
Financial income, net	927
Income (loss) before taxes on income	(8)
Income taxes	464
Net income (loss)	$ (472)
Basic net income per share	$ (0.02)
Diluted net income per share	$ (0.02)
Assets:
Trade receivables	$ 13,856
Accrued revenues	2,314
Prepaid expenses and other current assets	4,531
Liabilities:
Deferred revenues	5,056
Stockholders' equity:
Retained earnings	53,359
Accumulated Other Comprehensive Income (Loss) \| Effect of change higher/(lower) \| ASU 2014-09
Revenues:
Licensing and related revenue	519
Royalties	(2,482)
Total revenues	(1,963)
Gross profit	(1,963)
Operating expenses:
Sales and marketing	10
Total operating expenses	10
Operating income	(1,973)
Income (loss) before taxes on income	(1,973)
Income taxes	(263)
Net income (loss)	$ (1,710)
Basic net income per share	$ (0.08)
Diluted net income per share	$ (0.08)
Assets:
Trade receivables	$ 46
Accrued revenues	7,111
Prepaid expenses and other current assets	(395)
Liabilities:
Deferred revenues	(83)
Stockholders' equity:
Retained earnings	$ 6,845

Summary of Available-for-Sale M

Summary of Available-for-Sale Marketable Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale - matures within one year, Amortized cost	$ 9,016	$ 11,803
Available-for-sale - matures within one year through five years, Amortized cost	77,558	71,539
Amortized cost, Total	86,574	83,342
Available-for-sale - matures within one year, Gross unrealized gains		3
Available-for-sale - matures after one year through five years, Gross unrealized gains	37	14
Gross unrealized gains, Total	37	17
Available-for-sale - matures within one year, Gross unrealized losses	(20)	(12)
Available-for-sale - matures after one year through five years, Gross unrealized losses	(1,379)	(683)
Gross unrealized losses, Total	(1,399)	(695)
Available-for-sale - matures within one year, Fair value	8,996	11,794
Available-for-sale - matures after one year through five years, Fair value	76,216	70,870
Fair value, Total	85,212	82,664
Certificates of deposits
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale - matures within one year through five years, Amortized cost	747	747
Available-for-sale - matures after one year through five years, Fair value	747	747
Fair value, Total	747	747
Corporate bonds
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale - matures within one year, Amortized cost	9,016	11,803
Available-for-sale - matures within one year through five years, Amortized cost	76,310	70,291
Available-for-sale - matures within one year, Gross unrealized gains		3
Available-for-sale - matures after one year through five years, Gross unrealized gains	37	14
Available-for-sale - matures within one year, Gross unrealized losses	(20)	(12)
Available-for-sale - matures after one year through five years, Gross unrealized losses	(1,369)	(677)
Available-for-sale - matures within one year, Fair value	8,996	11,794
Available-for-sale - matures after one year through five years, Fair value	74,978	69,628
Government bonds
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale - matures within one year through five years, Amortized cost	501	501
Available-for-sale - matures after one year through five years, Gross unrealized losses	(10)	(6)
Available-for-sale - matures after one year through five years, Fair value	491	495
Fair value, Total	$ 491	$ 495

Summary of Gross Unrealized Los

Summary of Gross Unrealized Losses and Fair Values on Investments (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Less than 12 months, Fair value	$ 49,387	$ 49,921
Less than 12 months, Gross unrealized loss	(883)	(411)
12 months or greater, Fair value	22,135	22,960
12 months or greater, Gross unrealized loss	$ (516)	$ (284)

Summary of Gross Realized Gains

Summary of Gross Realized Gains and Losses from Sale of Available-for-Sale Marketable Securities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Gross realized gains from sale of available-for-sale marketable securities	$ 4
Gross realized losses from sale of available-for-sale marketable securities		$ (38)

Fair Value Measurement (Detail)

Fair Value Measurement (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Assets:
Marketable securities	$ 85,212	$ 82,664
Liabilities:
Foreign exchange contracts	5
Government bonds
Assets:
Marketable securities	491	495
Certificates of deposits
Assets:
Marketable securities	747	747
Corporate bonds
Assets:
Marketable securities	83,974	81,422
Level II
Liabilities:
Foreign exchange contracts	5
Level II \| Government bonds
Assets:
Marketable securities	491	495
Level II \| Certificates of deposits
Assets:
Marketable securities	747	747
Level II \| Corporate bonds
Assets:
Marketable securities	$ 83,974	$ 81,422

Summary of Intangible Assets (D

Summary of Intangible Assets (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, Gross Carrying Amount		$ 8,361	$ 6,161
Total intangible assets, Accumulated Amortization		4,778	4,419
Total intangible assets, Net		$ 3,583	1,742
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, Weighted Average Amortization Period (Years)		4 years 6 months
Total intangible assets, Gross Carrying Amount		$ 272	272
Total intangible assets, Accumulated Amortization		227	211
Total intangible assets, Net		$ 45	61
Customer backlog
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, Weighted Average Amortization Period (Years)		1 year 6 months
Total intangible assets, Gross Carrying Amount		$ 93	93
Total intangible assets, Accumulated Amortization		$ 93	93
Core technologies
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, Weighted Average Amortization Period (Years)		5 years 1 month 6 days
Total intangible assets, Gross Carrying Amount		$ 5,796	5,796
Total intangible assets, Accumulated Amortization		4,325	4,115
Total intangible assets, Net		$ 1,471	$ 1,681
NB-IoT technologies
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, Weighted Average Amortization Period (Years)	[1]	7 years
Total intangible assets, Gross Carrying Amount	[1]	$ 2,200
Total intangible assets, Accumulated Amortization	[1]	133
Total intangible assets, Net	[1]	$ 2,067

[1]	During the first quarter of 2018, the Company entered into an agreement to acquire certain NB-IoT technologies to be used in the Company's research and development activities in the amount of $2,800, of which $600 has not been received. Of the $2,200, $1,350 has not resulted in cash outflows as of March 31, 2018.

Summary of Intangible Assets (P

Summary of Intangible Assets (Parenthetical) (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible assets, gross		$ 8,361	$ 6,161
NB-IoT technologies
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, acquired		2,800
Finite-lived intangible assets, balance not received		600
Finite lived intangible assets, gross	[1]	2,200
Capital expenditures incurred but not yet paid		$ 1,350

[1]	During the first quarter of 2018, the Company entered into an agreement to acquire certain NB-IoT technologies to be used in the Company's research and development activities in the amount of $2,800, of which $600 has not been received. Of the $2,200, $1,350 has not resulted in cash outflows as of March 31, 2018.

Summary of Future Estimated Ann

Summary of Future Estimated Annual Amortization Charges (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,018	$ 883
2,019	1,154
2,020	314
2,021	314
2,022	314
2,023	314
2,024	290
Total intangible assets, Net	$ 3,583	$ 1,742

Revenues Based on Customer Loca

Revenues Based on Customer Location (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Total revenues	$ 17,569	$ 21,287
United States
Segment Reporting Information [Line Items]
Total revenues	1,707	1,303
Europe and Middle East
Segment Reporting Information [Line Items]
Total revenues	2,453	3,931
Asia Pacific
Segment Reporting Information [Line Items]
Total revenues	13,409	16,053
China
Segment Reporting Information [Line Items]
Total revenues	6,152	9,742
S. Korea
Segment Reporting Information [Line Items]
Total revenues	2,802	$ 3,749
Japan
Segment Reporting Information [Line Items]
Total revenues	$ 2,624

Major Customers Data as Percent

Major Customers Data as Percentage of Total Revenues (Detail) - Revenue - Customer Concentration Risk	3 Months Ended
	Mar. 31, 2018		Mar. 31, 2017
Customer A
Revenue, Major Customer [Line Items]
Percentage of total revenues	16.00%		25.00%
Customer B
Revenue, Major Customer [Line Items]
Percentage of total revenues	15.00%		17.00%
Customer C
Revenue, Major Customer [Line Items]
Percentage of total revenues		[1]	11.00%

[1]	Less than 10%

Calculation of Basic and Dilute

Calculation of Basic and Diluted Net Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Numerator:
Net income (loss)	$ (2,182)	$ 4,107
Denominator (in thousands):
Basic weighted-average common stock outstanding	22,148	21,398
Effect of stock -based awards		789
Diluted weighted average common stock outstanding	22,148	22,187
Basic net income (loss) per share	$ (0.10)	$ 0.19
Diluted net income (loss) per share	$ (0.10)	$ 0.19

Net Income (Loss) Per Share o45

Net Income (Loss) Per Share of Common Stock - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Antidilutive shares excluded from computation of earnings per share	1,354,693	104,000

Common Stock and Stock-Based 46

Common Stock and Stock-Based Compensation Plans - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
2011 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options and stock appreciation rights granted under stock incentive plans vesting rate, year one	25.00%
Remaining shares vesting period	36 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vesting period	4 years
Stock Appreciation Rights (SARs) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted percentage	400.00%
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 16,513
Unrecognized compensation expense, weighted-average period of recognition	1 year 7 months 6 days
Employees and non-employees award vesting, description	RSUs granted to employees generally vest in three equal annual installments starting on the first anniversary of the grant date. RSUs granted to non-employee directors generally vest in full on the first anniversary of the grant date.
Stock Options, SARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 416
Unrecognized compensation expense, weighted-average period of recognition	1 year 3 months 19 days
Non Employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted under stock incentive plan vesting rate, each anniversary	25.00%
Employee \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vesting period	3 years
Non-Employee \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vesting period	1 year

Summary of Stock Option Activit

Summary of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		12 Months Ended
		Mar. 31, 2018		Dec. 31, 2017
Number of options and SAR units
Number of shares outstanding, Beginning balance	[1]	729,017
Number of shares, Options/SAR units granted	[1]	0
Number of shares, Options/SAR units exercised	[1]	(6,392)
Number of shares, Options/SAR units forfeited or expired	[1]	(1,044)
Number of shares outstanding, Ending balance	[1]	721,581	[2]	729,017
Number of shares exercisable, Ending balance	[1],[3]	527,310
Weighted-average exercise price
Weighted-average exercise price, Beginning balance		$ 19.77
Weighted average exercise price, Granted		0
Weighted average exercise price, Exercised		15.94
Weighted average exercise price, Forfeited or expired		18.51
Weighted average exercise price, Ending balance		19.81	[2]	$ 19.77
Weighted average exercise price, exercisable	[3]	$ 19.01
Weighted average remaining contractual term
Weighted average remaining contractual life, Outstanding at beginning of period		5 years	[2]	5 years 2 months 12 days
Weighted average remaining contractual life, Exercisable at end of period	[3]	4 years 4 months 24 days
Aggregate intrinsic value
Aggregate intrinsic value, Outstanding, at beginning of period		$ 11,828	[2]	$ 19,229
Aggregate intrinsic value, Exercisable at ending of period	[3]	$ 9,065

[1]	The SAR units are convertible for a maximum number of shares of the Company's common stock equal to 75% of the SAR units subject to the grant.
[2]	Due to the ceiling imposed on the SAR grants, the outstanding amount equals a maximum of 656,498 shares of the Company's common stock issuable upon exercise.
[3]	Due to the ceiling imposed on the SAR grants, the exercisable amount equals a maximum of 475,608 shares of the Company's common stock issuable upon exercise.

Summary of Stock Option Activ48

Summary of Stock Option Activity (Parenthetical) (Detail) - shares		3 Months Ended
		Mar. 31, 2018		Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding amount of stock appreciation right units	[2]	721,581	[1]	729,017
Exercisable amount of stock appreciation right units	[2],[3]	527,310
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding amount of stock appreciation right units		656,498
Exercisable amount of stock appreciation right units		475,608
Stock Appreciation Rights (SARs) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum percentage of stock appreciation right units		75.00%

[1]	Due to the ceiling imposed on the SAR grants, the outstanding amount equals a maximum of 656,498 shares of the Company's common stock issuable upon exercise.
[2]	The SAR units are convertible for a maximum number of shares of the Company's common stock equal to 75% of the SAR units subject to the grant.
[3]	Due to the ceiling imposed on the SAR grants, the exercisable amount equals a maximum of 475,608 shares of the Company's common stock issuable upon exercise.

Summary of Restricted Stock Uni

Summary of Restricted Stock Units Activity (Detail) - Restricted Stock Units (RSUs)	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Number of RSUs
Number of RSUs, Unvested, Beginning balance \| shares	560,616
Number of RSUs granted \| shares	230,000
Number of RSUs vested \| shares	(153,503)
Number of RSUs forfeited or expired \| shares	(4,001)
Number of RSUs, Unvested, Ending balance \| shares	633,112
Weighted average Grant-Date fair value
Weighted average Grant-Date fair value, Beginning balance \| $ / shares	$ 29.31
Weighted average Grant-Date fair value, RSUs granted \| $ / shares	36.05
Weighted average Grant-Date fair value, RSUs vested \| $ / shares	25.92
Weighted average Grant-Date fair value, RSUs forfeited or expired \| $ / shares	34.10
Weighted average Grant-Date fair value, Ending balance \| $ / shares	$ 32.55

Equity-Based Compensation Expen

Equity-Based Compensation Expense Included in Interim Condensed Consolidated Statements of Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total equity-based compensation expense	$ 2,771	$ 1,949
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total equity-based compensation expense	157	91
Research and development, net
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total equity-based compensation expense	1,269	871
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total equity-based compensation expense	454	289
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total equity-based compensation expense	$ 891	$ 698

Assumptions Used to Estimate Fa

Assumptions Used to Estimate Fair Value of Employee Stock Purchase Plan (Detail) - Employee stock purchase plan	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%
Expected volatility, Minimum	35.00%	35.00%
Expected volatility, Maximum	42.00%	46.00%
Risk-free interest rate, Minimum	0.70%	0.50%
Risk-free interest rate, Maximum	1.60%	0.70%
Contractual term of up to	24 months	24 months

Derivatives and Hedging Activ52

Derivatives and Hedging Activities - Additional Information (Detail) - Derivatives designated as cash flow hedging instruments - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income, net	$ (19,000)	$ 146,000
Foreign exchange forward and option contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional principal amount of Hedging Contracts	$ 500,000		$ 0

Fair Value of Outstanding Deriv

Fair Value of Outstanding Derivative Instruments (Detail) $ in Thousands	Mar. 31, 2018USD ($)
Derivative [Line Items]
Derivative assets	$ 5
Derivatives designated as cash flow hedging instruments \| Foreign exchange option contracts
Derivative [Line Items]
Derivative assets	$ 5

Net (Gains) Losses Reclassified

Net (Gains) Losses Reclassified from Accumulated Other Comprehensive Loss (Detail) - Derivatives designated as cash flow hedging instruments - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income (loss), Effective portion, Net, Total	$ (24)	$ 182
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total	19	(146)
Foreign exchange option contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income (loss), Effective portion, Net, Total	(19)	91
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total	14	(49)
Foreign exchange forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income (loss), Effective portion, Net, Total	(5)	91
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total	$ 5	$ (97)

Changes in Accumulated Balances

Changes in Accumulated Balances of Other Comprehensive Income (Loss), Net of Tax (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 244,670
Other comprehensive income (loss) before reclassifications	(616)	$ 311
Amounts reclassified from accumulated other comprehensive income (loss)	14	(103)
Other comprehensive income (loss), net of taxes	(602)	208
Ending balance	252,815
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(586)	(497)
Ending balance	(1,188)	(289)
Unrealized gains (losses) on available-for-sale marketable securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(586)	(502)
Other comprehensive income (loss) before reclassifications	(595)	147
Amounts reclassified from accumulated other comprehensive income (loss)	(3)	28
Other comprehensive income (loss), net of taxes	(598)	175
Ending balance	(1,184)	(327)
Unrealized gains (losses) on cash flow hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	0	5
Other comprehensive income (loss) before reclassifications	(21)	164
Amounts reclassified from accumulated other comprehensive income (loss)	17	(131)
Other comprehensive income (loss), net of taxes	(4)	33
Ending balance	$ (4)	$ 38

Details about Reclassification

Details about Reclassification out of Accumulated Other Comprehensive Income Components (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of revenues	$ (1,972)	$ (1,696)
Financial income (loss), net	927	571
Research and development	(12,016)	(9,873)
Sales and marketing	(3,176)	(2,938)
General and administrative	(2,954)	(2,125)
Income (loss) before taxes on income	(1,981)	4,917
Income tax expense (benefit)	201	810
Net income	(2,182)	4,107
Reclassification out of accumulated other comprehensive income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income	(14)	103
Reclassification out of accumulated other comprehensive income \| Unrealized gains (losses) on cash flow hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of revenues	(1)	3
Research and development	(16)	125
Sales and marketing	(1)	8
General and administrative	(1)	10
Income (loss) before taxes on income	(19)	146
Income tax expense (benefit)	(2)	15
Net income	(17)	131
Reclassification out of accumulated other comprehensive income \| Unrealized gains (losses) on available-for-sale marketable securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Financial income (loss), net	4	(38)
Income tax expense (benefit)	1	(10)
Net income	$ 3	$ (28)

Share Repurchase Program - Addi

Share Repurchase Program - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Class of Stock Disclosures [Abstract]
Purchase of treasury stock, shares	41,322	0
Purchase of treasury stock, per share value	$ 35.31
Purchase of treasury stock	$ 1,459
Common stock shares, available for repurchase	269,734