Document And Entity Information
Document And Entity Information - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Feb. 25, 2019 | Jun. 30, 2018 | |
Document Information [Line Items] | |||
Entity Registrant Name | CEVA INC | ||
Entity Central Index Key | 1,173,489 | ||
Trading Symbol | ceva | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Common Stock, Shares Outstanding (in shares) | 22,063,490 | ||
Entity Public Float | $ 498,330 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Shell Company | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 22,260 | $ 21,739 |
Short-term bank deposits | 46,139 | 34,432 |
Marketable securities (Note 3) | 77,469 | 82,664 |
Trade receivables | 26,156 | 16,494 |
Prepaid expenses and other current assets | 5,264 | 3,747 |
Total current assets | 177,288 | 159,076 |
Long-term assets: | ||
Bank deposits | 21,864 | 44,518 |
Severance pay fund | 9,026 | 8,910 |
Deferred tax assets (Note 13) | 5,924 | 3,643 |
Property and equipment, net (Note 5) | 7,344 | 6,926 |
Goodwill | 46,612 | 46,612 |
Intangible assets, net (Note 6) | 2,700 | 1,742 |
Investments in other company | 936 | 1,806 |
Other long-term assets | 5,569 | 3,579 |
Total long-term assets | 99,975 | 117,736 |
Total assets | 277,263 | 276,812 |
Current liabilities: | ||
Trade payables | 632 | 392 |
Deferred revenues | 3,593 | 4,399 |
Accrued expenses and other payables (Note 7) | 4,344 | 3,927 |
Accrued payroll and related benefits | 13,183 | 14,077 |
Total current liabilities | 21,752 | 22,795 |
Long-term liabilities: | ||
Accrued severance pay | 9,632 | 9,347 |
Total long-term liabilities | 9,632 | 9,347 |
Stockholders’ equity (Note 8): | ||
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 December 31, 2017 and 2018; 22,064,007 and 21,787,860 shares outstanding at December 31, 2017 and 2018, respectively | 22 | 22 |
Additional paid in-capital | 223,250 | 217,417 |
Treasury stock at cost (1,531,153 and 1,807,300 shares of common stock at December 31, 2017 and 2018, respectively) | (39,132) | (26,056) |
Accumulated other comprehensive loss (Note 10) | (1,114) | (586) |
Retained earnings | 62,853 | 53,873 |
Total stockholders’ equity | 245,879 | 244,670 |
Total liabilities and stockholders’ equity | $ 277,263 | $ 276,812 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2018 | Dec. 31, 2017 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 60,000,000 | 60,000,000 |
Common stock, shares issued (in shares) | 23,595,160 | 23,595,160 |
Common stock, shares outstanding (in shares) | 22,064,007 | 21,787,860 |
Treasury stock, shares (in shares) | 1,807,300 | 1,531,153 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Revenues: | |||
Revenues | $ 77,877,000 | $ 87,507,000 | $ 72,653,000 |
Cost of revenues | 7,951,000 | 6,953,000 | 6,086,000 |
Gross profit | 69,926,000 | 80,554,000 | 66,567,000 |
Operating expenses: | |||
Research and development, net | 47,755,000 | 40,385,000 | 30,838,000 |
Sales and marketing | 12,161,000 | 12,572,000 | 11,540,000 |
General and administrative | 10,354,000 | 10,488,000 | 8,567,000 |
Amortization of intangible assets (Note 6) | 901,000 | 1,236,000 | 1,236,000 |
Total operating expenses | 71,171,000 | 64,681,000 | 52,181,000 |
Operating income (loss) | (1,245,000) | 15,873,000 | 14,386,000 |
Financial income, net (Note 12) | 3,418,000 | 3,026,000 | 2,039,000 |
Revaluation of investment in other company (Note 12) | (870,000) | 0 | 0 |
Income before taxes on income | 1,303,000 | 18,899,000 | 16,425,000 |
Income taxes (Note 13) | 729,000 | 1,871,000 | 3,325,000 |
Net income | $ 574,000 | $ 17,028,000 | $ 13,100,000 |
Basic net income per share (in dollars per share) | $ 0.03 | $ 0.78 | $ 0.63 |
Diluted net income per share (in dollars per share) | $ 0.03 | $ 0.75 | $ 0.61 |
Weighted average shares used to compute net income per share (in thousands): | |||
Basic (in shares) | 22,034 | 21,771 | 20,850 |
Diluted (in shares) | 22,503 | 22,561 | 21,565 |
License [Member] | |||
Revenues: | |||
Revenues | $ 40,446,000 | $ 42,899,000 | $ 31,874,000 |
Royalty [Member] | |||
Revenues: | |||
Revenues | $ 37,431,000 | $ 44,608,000 | $ 40,779,000 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net income: | $ 574 | $ 17,028 | $ 13,100 |
Available-for-sale securities: | |||
Changes in unrealized losses | (612) | (99) | (95) |
Reclassification adjustments included in net income | 67 | 9 | |
Net change | (545) | (99) | (86) |
Cash flow hedges: | |||
Changes in unrealized losses | (431) | 183 | 158 |
Reclassification adjustments for (gains) losses included in net income | 354 | (189) | (161) |
Net change | (77) | (6) | (3) |
Other comprehensive loss before tax | (622) | (105) | (89) |
Income tax benefit related to components of other comprehensive loss | (94) | (16) | (11) |
Other comprehensive loss, net of taxes | (528) | (89) | (78) |
Comprehensive income | $ 46 | $ 16,939 | $ 13,022 |
Statements of Changes in Stockh
Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Common Stock Outstanding [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2015 | 20,529,933 | |||||
Balance at Dec. 31, 2015 | $ 21 | $ 208,744 | $ (51,798) | $ (419) | $ 29,547 | $ 186,095 |
Net income | 13,100 | 13,100 | ||||
Other comprehensive loss | (78) | (78) | ||||
Equity-based compensation | 6,236 | $ 6,236 | ||||
Purchase of Treasury stock (in shares) | (180,013) | 180,013 | ||||
Purchase of Treasury stock | $ (1) | (3,416) | $ (3,417) | |||
Issuance of Treasury stock upon exercise of stock-based awards (in shares) | 923,580 | |||||
Issuance of Treasury stock upon exercise of stock-based awards | $ 1 | (2,877) | 15,707 | (3,216) | 9,615 | |
Balance (in shares) at Dec. 31, 2016 | 21,273,500 | |||||
Balance at Dec. 31, 2016 | $ 21 | 212,103 | (39,507) | (497) | 39,431 | 211,551 |
Net income | 17,028 | 17,028 | ||||
Other comprehensive loss | (89) | (89) | ||||
Equity-based compensation | 8,693 | $ 8,693 | ||||
Purchase of Treasury stock (in shares) | 0 | |||||
Issuance of Treasury stock upon exercise of stock-based awards (in shares) | 790,507 | |||||
Issuance of Treasury stock upon exercise of stock-based awards | $ 1 | (3,379) | 13,451 | (2,586) | $ 7,487 | |
Balance (in shares) at Dec. 31, 2017 | 22,064,007 | |||||
Balance at Dec. 31, 2017 | $ 22 | 217,417 | (26,056) | (586) | 53,873 | 244,670 |
Accumulated other comprehensive loss, net as of December 31, 2018 | (586) | |||||
Net income | 574 | 574 | ||||
Other comprehensive loss | (528) | (528) | ||||
Equity-based compensation | 10,367 | $ 10,367 | ||||
Purchase of Treasury stock (in shares) | (655,876) | 655,876 | ||||
Purchase of Treasury stock | (20,008) | $ (20,008) | ||||
Issuance of Treasury stock upon exercise of stock-based awards (in shares) | 379,729 | |||||
Issuance of Treasury stock upon exercise of stock-based awards | (4,534) | 6,932 | (149) | 2,249 | ||
Cumulative effect of adoption of new accounting standard (Note 2) | 8,555 | 8,555 | ||||
Balance (in shares) at Dec. 31, 2018 | 21,787,860 | |||||
Balance at Dec. 31, 2018 | $ 22 | $ 223,250 | $ (39,132) | (1,114) | $ 62,853 | 245,879 |
Accumulated unrealized loss from available-for-sale securities, net of taxes of $177 | (1,046) | |||||
Accumulated unrealized loss from hedging activities, net of taxes of $9 | (68) | |||||
Accumulated other comprehensive loss, net as of December 31, 2018 | $ (1,114) | $ (1,114) |
Statements of Changes in Stoc_2
Statements of Changes in Stockholders' Equity (Parentheticals) - AOCI Attributable to Parent [Member] $ in Thousands | Dec. 31, 2018USD ($) |
Accumulated unrealized loss from available-for-sale securities, taxes | $ 177 |
Accumulated unrealized loss from hedging activities, taxes | $ 9 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Cash flows from operating activities: | |||
Net income | $ 574,000 | $ 17,028,000 | $ 13,100,000 |
Adjustments required to reconcile net income to net cash provided by operating activities: | |||
Depreciation | 2,915,000 | 2,014,000 | 1,399,000 |
Amortization of intangible assets | 1,242,000 | 1,236,000 | 1,236,000 |
Equity-based compensation | 10,367,000 | 8,693,000 | 6,236,000 |
Realized loss, net on sale of available-for-sale marketable securities | 67,000 | 0 | 9,000 |
Amortization of premiums on available-for-sale marketable securities | 773,000 | 1,179,000 | 1,064,000 |
Unrealized foreign exchange (gain) loss, net | 155,000 | (42,000) | 75,000 |
Other than Temporary Impairment Losses, Investments, Total | 870,000 | 0 | 0 |
Changes in operating assets and liabilities: | |||
Trade receivables | (463,000) | (1,446,000) | (10,966,000) |
Prepaid expenses and other assets | (3,855,000) | (2,478,000) | (622,000) |
Accrued interest on bank deposits | (557,000) | 151,000 | (195,000) |
Deferred tax, net | (2,187,000) | (1,375,000) | (613,000) |
Trade payables | 226,000 | (184,000) | (190,000) |
Deferred revenues | (806,000) | (1,859,000) | 3,495,000 |
Accrued expenses and other payables | (493,000) | 1,259,000 | (277,000) |
Accrued payroll and related benefits | (527,000) | 1,807,000 | (94,000) |
Income taxes payable | 96,000 | (1,493,000) | 668,000 |
Accrued severance pay, net | 215,000 | (21,000) | 134,000 |
Net cash provided by operating activities | 8,612,000 | 24,469,000 | 14,459,000 |
Cash flows from investing activities: | |||
Purchase of property and equipment | (3,319,000) | (4,135,000) | (2,387,000) |
Purchase of intangible assets | (1,960,000) | 0 | 0 |
Investment in bank deposits | (21,596,000) | (47,027,000) | (41,476,000) |
Proceeds from bank deposits | 32,892,000 | 44,450,000 | 37,594,000 |
Investment in available-for-sale marketable securities | (19,666,000) | (54,882,000) | (43,537,000) |
Proceeds from maturity of available-for-sale marketable securities | 10,122,000 | 9,296,000 | 8,022,000 |
Proceeds from sale of available-for-sale marketable securities | 13,354,000 | 23,512,000 | 20,754,000 |
Net cash provided by (used in) investing activities | 9,827,000 | (28,786,000) | (21,030,000) |
Cash flows from financing activities: | |||
Purchase of Treasury Stock | (20,008,000) | 0 | (3,417,000) |
Proceeds from exercise of stock-based awards | 2,249,000 | 7,487,000 | 9,615,000 |
Net cash provided by (used in) financing activities | (17,759,000) | 7,487,000 | 6,198,000 |
Effect of exchange rate changes on cash and cash equivalents | (159,000) | 168,000 | (135,000) |
Increase (decrease) in cash and cash equivalents | 521,000 | 3,338,000 | (508,000) |
Cash and cash equivalents at the beginning of the year | 21,739,000 | 18,401,000 | 18,909,000 |
Cash and cash equivalents at the end of the year | 22,260,000 | 21,739,000 | 18,401,000 |
Supplemental information of cash-flows activities: | |||
Income and withholding taxes | 4,294,000 | 5,203,000 | 3,287,000 |
Non-cash transactions: | |||
Cumulative effect of adoption of new accounting standard | 8,555,000 | 0 | 0 |
Property and equipment purchases incurred but unpaid at period end | 14,000 | 0 | 86,000 |
Intangible assets purchased but unpaid at period end | $ 750,000 |
Note 1 - Organization and Signi
Note 1 - Organization and Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | NOTE 1: Organization: CEVA, Inc. (“CEVA” or the “Company”) was incorporated in Delaware on November 22, 1999. November 2002. no CEVA licenses a family of signal processing IPs, including comprehensive platforms for 5G 4/5/6 4x4 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: The consolidated financial statements have been prepared according to U.S Generally Accepted Accounting Principles (“U.S. GAAP”). Use of estimates : The preparation of the 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 financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Financial statements in U.S. dollars : A majority of the revenues of the Company and its subsidiaries is generated in U.S. dollars (“dollars”). In addition, a portion of the Company and its subsidiaries’ costs are incurred in dollars. The Company’s management has determined that the dollar is the primary currency of the economic environment in which the Company and its subsidiaries principally operate. Thus, the functional and reporting currency of the Company and its subsidiaries is the dollar. Accordingly, monetary accounts maintained in currencies other than the dollar are remeasured into dollars in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 830, Principles of consolidation : The consolidated financial statements incorporate the financial statements of the Company and all of its subsidiaries. All significant inter-company balances and transactions have been eliminated on consolidation. Cash equivalents : Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three Short-term bank deposits : Short-term bank deposits are deposits with maturities of more than three one 1.76%, 1.85% 2.16% 2016, 2017 2018, Marketable securities : Marketable securities consist mainly of corporate bonds. The Company determines the appropriate classification of marketable securities at the time of purchase and re-evaluates such designation at each balance sheet date. In accordance with FASB ASC No. 320 may one The Company recognizes an impairment charge when a decline in the fair value of its investments in debt securities below the cost basis of such securities is judged to be other-than-temporary. Factors considered in making such a determination include the duration and severity of the impairment, the reason for the decline in value and the potential recovery period. For securities that are deemed other-than-temporarily impaired (“OTTI”), the amount of impairment is recognized in the statement of income and is limited to the amount related to credit losses, while impairment related to other factors is recognized in other comprehensive income (loss). The Company did not 2016, 2017 2018. Long-term bank deposits : Long-term bank deposits are deposits with maturities of more than one 1.97%, 2.26% 2.57% 2016, 2017 2018, Property and equipment, net : Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets, at the following annual rates: % Computers, software and equipment 10 - 33 Office furniture and equipment 7 - 33 Leasehold improvements 10 - 25 (the shorter of the expected lease term or useful economic life) The Company’s long-lived assets are reviewed for impairment in accordance with FASB ASC No. 360 10 35, may not An asset to be disposed is reported at the lower of its carrying amount or fair value less selling costs. No 2016, 2017 2018. Goodwill : Goodwill is carried at cost and is not October 1st The Company operates in one There is a two first second second three December 31, 2018, no Intangible assets, net : Acquired intangible assets with definite lives are amortized over their estimated useful lives. The Company amortizes intangible assets on a straight-line basis with definite lives over periods ranging from one seven Intangible assets with definite lives are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not not December 31, 2016, 2017 2018. Investments in other company : The Company's non-marketable equity securities are investments in privately held companies without readily determinable market values. Prior to January 1, 2018, December 31, 2017, $1,806. Effective January 1, 2018, 2016 01, not not not During the year ended December 31, 2018, $870 December 31, 2016 2017, no Revenue recognition : Effective as of January 1, 2018, 606, Revenue from Contracts with Customers 606” 2 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 2 3 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. may 606, 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 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 company’s performance does not first 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 unbilled receivables. When the Company does not 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 support, correction of errors (bug fixing) and unspecified updates and upgrades. Fees for post contract support, which takes place after delivery to the customer, are specified in the contract and are generally mandatory for the first may 12 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 The Company capitalizes sales commission as costs of obtaining a contract when they are incremental and, if they are expected to be recovered, amortized in a manner consistent with the pattern of transfer of the good or service to which the asset relates. If the expected amortization period is one Cost of revenue : Cost of revenue includes the costs of products, services and royalty expense payments to the Israeli Innovation Authority of the Ministry of Economy and Industry in Israel (the “IIA“) (refer to Note 14 Income taxes : The Company recognizes income taxes under the liability method. It recognizes deferred income tax assets and liabilities for the expected future consequences of temporary differences between the financial reporting and tax bases of assets and liabilities. These differences are measured using the enacted statutory tax rates that are expected to apply to taxable income for the years in which differences are expected to reverse. The effect of a change in tax rates on deferred income taxes is recognized in the statements of income during the period that includes the enactment date. Valuation allowance is recorded to reduce the deferred tax assets to the net amount that the Company believes is more likely than not The Company accounts for uncertain tax positions in accordance with ASC 740. 740 10 two first not second 50% Research and development : Research and development costs are charged to the consolidated statements of income as incurred. Government grants and tax credits : Government grants received by the Company relating to categories of operating expenditures are credited to the consolidated statements of income during the period in which the expenditure to which they relate is charged. Royalty and non-royalty-bearing grants from the IIA for funding certain approved research and development projects are recognized at the time when the Company is entitled to such grants, on the basis of the related costs incurred, and included as a deduction from research and development expenses. The Company recorded grants in the amounts of $6,410, $4,137 $3,352 December 31, 2016, 2017 2018, 3% 3.5% may not The French Research Tax Credit, Crédit d’Impôt Recherche (“CIR”), is a French tax incentive to stimulate research and development (“R&D”) which is relevant for the Company's French subsidiaries (RivieraWaves and CEVA France). Generally, the CIR offsets the income tax to be paid and the remaining portion (if any) can be refunded. The CIR is calculated based on the claimed volume of eligible R&D expenditures by the Company. As a result, the CIR is presented as a deduction to “Research and development expenses” in the consolidated statements of income. During the years ended December 31, 2016, 2017 2018, $1,485, $1,555 $2,065, Employee benefit plan : Certain of the Company’s employees are eligible to participate in a defined contribution pension plan (the “Plan”). Participants in the Plan may 10% The Company’s U.S. operations maintain a retirement plan (the “U.S. Plan”) that qualifies as a deferred salary arrangement under Section 401 may 100% 6% may 15% Total contributions for the years ended December 31, 2016, 2017 2018 $1,020, $988 $1,048, Accrued severance pay : The liability of CEVA’s Israeli subsidiary for severance pay for employees hired prior to August 1, 2016 may Effective August 1, 2016, 14 1963. no no not Severance pay expenses, net of related income, for the years ended December 31, 2016, 2017 2018, $1,348, $1,413 $1,818, Equity-based compensation : The Company accounts for equity-based compensation in accordance with FASB ASC No. 718, In March 2016, 2016 09, 718 2016 09” 2016 09 2016 09 December 15, 2016. 2016 09 first 2017, no first 2017, 2016 09 not The Company estimates the fair value of options and stock appreciation right (“SAR”) awards on the date of grant using an option-pricing model. The value of the portion of an award that is ultimately expected to vest is recognized as an expense over the requisite service period in the Company’s consolidated statements of income. The Company recognizes compensation expenses for the value of its options and SARs, which have graded vesting based on the accelerated attribution method over the requisite service period of each of the awards. Prior to January 1, 2017, The Company recognizes compensation expenses for the value of its restricted stock unit (“RSU”) awards, based on the straight-line method over the requisite service period of each of the awards. The fair value of each RSU is the market value as determined by the closing price of the common stock on the day of grant. The Company uses the Monte-Carlo simulation model for options and SARs granted. The Monte-Carlo simulation model uses the assumptions noted below. Expected volatility was calculated based upon actual historical stock price movements over the most recent periods ending on the grant date, equal to the expected option and SAR term. The Company has historically not no zero The fair value for the Company’s stock options and SARs (other than share issuances in connection with the employee stock purchase plan, as detailed below) granted to employees and non-employees directors was estimated using the following assumptions (neither options nor SARs were granted during 2017 2018 2016 (* Expected dividend yield 0% Expected volatility 38% - 49% Risk-free interest rate 0.5% - 2.4% Expected forfeiture (employees) — Expected forfeiture (executives) 5% Contractual term of up to (years) 10 Suboptimal exercise multiple (employees) — Suboptimal exercise multiple (executives) 2.4 (* During 2016, 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: 2016 2017 2018 Expected dividend yield 0% 0% 0% Expected volatility 29% - 57% 28% - 46% 35% - 42% Risk-free interest rate 0.3% - 0.5% 0.5% - 1.1% 0.7% - 2.2% Expected forfeiture 0% 0% 0% Contractual term of up to (months) 24 24 24 During the years ended December 31, 2016, 2017 2018, Year ended December 31, 201 6 201 7 201 8 Cost of revenue $ 246 $ 459 $ 588 Research and development, net 2,860 3,839 5,141 Sales and marketing 922 1,428 1,587 General and administrative 2,208 2,967 3,051 Total equity-based compensation expense $ 6,236 $ 8,693 $ 10,367 As of December 31, 2018, $217 1.1 December 31, 2018, $11,432 1.5 Fair value of financial instruments : The carrying amount of cash, cash equivalents, short term bank deposits, trade receivables, other accounts receivable, trade payables and other accounts payable approximates fair value due to the short-term maturities of these instruments. Marketable securities and derivative instruments are carried at fair value. See Note 4 Comprehensive income (loss) : The Company accounts for comprehensive income (loss) in accordance with FASB ASC No. 220, Concentration of credit risk : Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents, bank deposits, marketable securities, foreign exchange contracts and trade receivables. The Company invests its surplus cash in cash deposits and marketable securities in financial institutions and has established guidelines relating to diversification and maturities to maintain safety and liquidity of the investments. The majority of the Company’s cash and cash equivalents are invested in high grade certificates of deposits with major U.S., European and Israeli banks. Generally, cash and cash equivalents and bank deposits may one no no not December 31, 2018, no 2018. no The Company is exposed primarily to fluctuations in the level of U.S. interest rates. To the extent that interest rates rise, fixed interest investments may may The Company is exposed to financial market risks, including changes in interest rates. The Company typically does not The Company’s trade receivables are geographically diverse, mainly in the Asia Pacific, and also in the United States and Europe. Concentration of credit risk with respect to trade receivables is limited by credit limits, ongoing credit evaluation and account monitoring procedures. The Company performs ongoing credit evaluations of its customers and to date has not The Company has no Derivative and hedging activities : The Company follows the requirements of FASB ASC No. 815,” one twelve 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 December 31, 2017 2018, $0 $9,100, Advertising expenses : Advertising expenses are charged to consolidated statements of income as incurred. Advertising expenses for the years ended December 31, 2016, 2017 2018 $1,033, $1,118 $1,080, Treasury stock : The Company repurchases its common stock from time to time pursuant to a board-authorized share repurchase program through open market purchases and repurchase plans. 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, Net income per share of common stock : Basic net income per share is computed based on the weighted average number of shares of common stock outstanding during each year. Diluted net income per share is computed based on the weighted average number of shares of common stock outstanding during each year, plus dilutive potential shares of common stock considered outstanding during the year, in accordance with FASB ASC No. 260, Year ended December 31, 2016 2017 2018 Numerator : Net income $ 13,100 $ 17,028 $ 574 Denominator (in thousands) : Basic weighted-average common stock outstanding 20,850 21,771 22,034 Effect of stock-based awards 715 790 469 Diluted weighted-average common stock outstanding 21,565 22,561 22,503 Basic net income per share $ 0.63 $ 0.78 $ 0.03 Diluted net income per share $ 0.61 $ 0.75 $ 0.03 The weighted-average number of shares related to outstanding options, SARs and RSUs excluded from the calculation of diluted net income per share, since their effect was anti-dilutive, were 282,696, 29,892 161,362 December 31, 2016 2017 2018, Recently Issued Accounting Pronouncement : (a) Leases In February 2016, 2016 02, 842 840, December 15, 2018, 2016 02 July 2018, No. 2018 11, 842 not The Company currently estimates recording lease assets and liabilities in excess of $9,498 no (b) Other accounting standards In January 2016, 2016 13, 2016 13 January 1, 2020, In January 2017, No. 2017 04, 2 not zero 2 December 15, 2019. January 1, 2017. not In August 2017, 2017 12, 815 2017 12” December 15, 2018, 2017 12 |
Note 2 - Revenue Recognition
Note 2 - Revenue Recognition | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 2: In May 2014, 606 five may 606 January 1, 2018 606 January 1, 2018 606, not $8,555 January 1, 2018 606. December 31, 2018 $4,078, 606. With respect to the Company’s licensing business, the adoption of ASC 606 may not one not With respect to the Company’s royalty business, ASC 606 606, $8,597 Under ASC 606, 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 2019 2020 2021 License and related revenues $ 12,567 $ 3,948 $ 1,500 In connection with the adoption of ASC 606, January 1, 2018, 606, $239 not one 606’s one December 31, 2018, $120, no $223 December 31, 2018. 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): Year ended December 3 1 , 2018 (audited) Licensing and related revenues Royalties Total Primary geographical markets United States $ 6,260 $ 2,094 $ 8,354 Europe and Middle East 3,672 13,698 17,370 Asia Pacific 30,514 21,639 52,153 Total $ 40,446 $ 37,431 $ 77,877 Major product/service lines DSP products (DSP cores and platforms) $ 25,369 $ 34,097 $ 59,466 Connectivity products (Bluetooth, Wi-Fi and SATA/SAS) 15,077 3,334 18,411 Total $ 40,446 $ 37,431 $ 77,877 Timing of revenue recognition Products transferred at a point in time $ 30,744 $ 37,431 $ 68,175 Products and services transferred over time 9,702 — 9,702 Total $ 40,446 $ 37,431 $ 77,877 Contract balances: The following table provides information about trade receivables, unbilled receivables and contract liabilities from contracts with customers (in thousands): December 3 1 , 2018 Trade receivables $ 9,971 Unbilled receivables (associated with licensing and other) 6,745 Unbilled receivables (associated with royalties) 9,440 Deferred revenues (short-term contract liabilities) 3,593 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. Unbilled receivables associated with licensing and other include amounts related to the Company’s contractual right to consideration for completed performance objectives not not During the year ended December 31, 2018, $3,728 January 1, 2018. In accordance with ASC 606, Year ended December 3 1 , 2018 As reported Balance without adopting ASC 606 Effect of change higher/(lower) Revenues: Licensing and related revenue $ 40,446 $ 35,873 $ 4,573 Royalties 37,431 37,926 (495 ) Total revenues 77,877 73,799 4,078 Cost of revenues 7,951 7,951 — Gross profit 69,926 65,848 4,078 Operating expenses: Sales and marketing 12,161 12,139 22 Other operating expenses 59,010 59,010 — Total operating expenses 71,171 71,149 22 Operating loss (1,245 ) (5,301 ) 4,056 Financial income, net 3,418 3,418 — Revaluation of investment in other company (870 ) (870 ) — Income (loss) before taxes on income 1,303 (2,753 ) 4,056 Income taxes 729 356 373 Net income (loss) $ 574 $ (3,109 ) $ 3,683 Basic net income (loss) per share $ 0.03 $ (0.14 ) $ 0.17 Diluted net income (loss) per share $ 0.03 $ (0.14 ) $ 0.16 December 3 1 , 2018 As reported Balance without adopting ASC 606 Effect of change higher/(lower) Assets: Trade receivables $ 26,156 $ 12,875 $ 13,281 Prepaid expenses and other current assets $ 5,264 $ 6,307 $ (1,043 ) Stockholders' equity: Retained earnings $ 62,853 $ 50,615 $ 12,238 Practical Expediency and Exemptions: The Company generally expenses sales commissions when incurred because the amortization period would have been less than one The Company does not one |
Note 3 - Marketable Securities
Note 3 - Marketable Securities | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Cash, Cash Equivalents, and Marketable Securities [Text Block] | NOTE 3: The following is a summary of available-for-sale marketable securities at December 31, 2017 2018: As at December 31, 2018 Amortized cost Gross gains Gross losses Fair value Available-for-sale - matures within one year: Corporate bonds $ 6,094 $ — $ (32 ) $ 6,062 6,094 — (32 ) 6,062 Available-for-sale - matures after one year through five years: Certificate of deposits 747 — — 747 Government bonds 501 — (5 ) 496 Corporate bonds 71,350 134 (1,320 ) 70,164 72,598 134 (1,325 ) 71,407 Total $ 78,692 $ 134 $ (1,357 ) $ 77,469 As at December 31, 2017 Amortized cost Gross gains Gross losses Fair value Available-for-sale - matures within one year: Corporate bonds $ 11,803 $ 3 $ (12 ) $ 11,794 11,803 3 (12 ) 11,794 Available-for-sale - matures after one year through five years: 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 December 31, 2017 2018, Less than 12 months 12 months or greater Fair Value Gross unrealized loss Fair Value Gross unrealized loss As of December 31, 2018 $ 16,580 $ (192 ) $ 52,590 $ (1,165 ) As of December 31, 2017 $ 49,921 $ (411 ) $ 22,960 $ (284 ) As of December 31, 2017 2018, not The following table presents gross realized gains and losses from sale of available-for-sale marketable securities: Year ended December 31, 2016 2017 2018 Gross realized gains from sale of available-for-sale marketable securities $ 24 $ 47 $ 4 Gross realized losses from sale of available-for-sale marketable securities $ (33 ) $ (47 ) $ (71 ) |
Note 4 - Fair Value Measurement
Note 4 - Fair Value Measurement | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 4: FASB ASC No. 820, three 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 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 The Company measures its marketable securities, foreign currency derivative contracts and investment in other company 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. Investment in other company is classified within Level III as the Company estimates the value based on valuation methods using the observable transaction price on the transaction date and other unobservable inputs, including volatility, as well as rights and obligations of the securities it holds. 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 December 31, 201 8 Level I Level II Level III Assets: Marketable securities: Certificate of deposits $ 747 — $ 747 — Government bonds 496 — 496 — Corporate bonds 76,226 — 76,226 — Investment in other company (1) 936 — — 936 Liabilities: Foreign exchange contracts 77 — 77 — ( 1 December 31, 2018. Description December 31, 201 7 Level I Level II Level III Assets: Marketable securities: Certificate of deposits $ 747 — $ 747 — Government bonds 495 — 495 — Corporate bonds 81,422 — 81,422 — |
Note 5 - Property and Equipment
Note 5 - Property and Equipment, Net | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 5: Composition of assets, grouped by major classifications, is as follows: As at December 31, 2017 2018 Cost: Computers, software and equipment $ 13,570 $ 16,431 Office furniture and equipment 797 832 Leasehold improvements 2,756 2,880 17,123 20,143 Less – Accumulated depreciation (10,197 ) (12,799 ) Property and equipment, net $ 6,926 $ 7,344 $2,014 $2,915 December 31, 2017 2018, |
Note 6 - Intangible Assets, Net
Note 6 - Intangible Assets, Net | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | NOTE 6: Year ended December 31, 2017 Year ended December 31, 2018 Weighted Average Amortization P eriod ( Y ears) Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Intangible assets –amortizable: Customer relationships 4.5 $ 272 $ 211 $ 61 $ 272 $ 272 $ — Customer backlog 1.5 93 93 — 93 93 — Core technologies 5.1 5,796 4,115 1,681 5,796 4,955 841 NB-IoT technologies 7.0 — — — 2,200 341 1,859 Total intangible assets $ 6,161 $ 4,419 $ 1,742 $ 8,361 $ 5,661 $ 2,700 Future estimated annual amortization charges are as follows: 2019 1,155 2020 314 2021 314 2022 314 2023 314 2024 289 $ 2,700 The Company recorded amortization expense in the amount of $1,236 $1,242 December 31, 2017 2018, |
Note 7 - Accrued Expenses and O
Note 7 - Accrued Expenses and Other Payables | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | NOTE 7 : ACCRUED EXPENSES AND OTHER PAYABLES As at December 31, 2017 2018 Engineering accruals $ 977 $ 884 Professional fees 792 752 Government grants 791 417 Income taxes payable, net 45 141 Facility related accruals 290 259 Intangible assets — 750 Other 1,032 1,141 Total $ 3,927 $ 4,344 |
Note 8 - Stockholders' Equity
Note 8 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 8: a. Common stock: Holders of common stock are entitled to one may no b. Preferred stock: The Company is authorized to issue up to 5,000,000 $0.001 may one may may c. Share repurchase program: In August 2008, one four million 2010 2013. October 2014, one million May 2018, 700,000 As of December 31, 2018, 355,180 In 2016, 180,013 $18.98 $3,417. 2017, not 2018, 655,876 $30.51 $20,008. d. Employee and non-employee stock plans: The Company grants a mix of stock options, SARs capped with a ceiling and RSUs to employees and non-employee directors of the Company and its subsidiaries under the Company’s equity plans and provides the right to purchase common stock pursuant to the Company’s 2002 The SAR unit confers the holder the right to stock appreciation over a preset price of the Company’s common stock during a specified period of time. When the unit is exercised, the appreciation amount is paid through the issuance of shares of the Company’s common stock. The ceiling limits the maximum income for each SAR unit. SARs are considered an equity instrument as it is a net share settled award capped with a ceiling ( 400% 2016. 2016, 25% one 36 four 25% 1/3 2017, first 2018, two first In connection with the Company’s acquisition of RivieraWaves, on July 7, 2014, 113,000 27 not 5635 4 $15.17, four 25% one 36 December 31, 2018, 400%, seven A summary of the Company’s stock option and SARs activities and related information for the year ended December 31, 2018, Number of SAR units (1) Weighted price Weighted average remaining contractual term Aggregate intrinsic-value Outstanding at the beginning of the year 729,017 $ 19.77 5.2 $ 19,229 Granted — — Exercised (22,530 ) 16.07 Forfeited or expired (3,670 ) 22.67 Outstanding at the end of the year (2) 702,817 $ 19.88 4.3 $ 2,708 Exercisable at the end of the year (3) 623,718 $ 19.14 4.0 $ 2,648 ( 1 The SAR units are convertible for a maximum number of shares of the Company’s common stock equal to 75% ( 2 Due to the ceiling imposed on the SAR grants, the outstanding amount equals a maximum of 642,300 ( 3 Due to the ceiling imposed on the SAR grants, the exercisable amount equals a maximum of 565,851 The weighted average fair value of options granted during the year ended December 2016 $12.9 2017 2018, not The total intrinsic value of options and SARs exercised during the years ended December 31, 2016, 2017 2018 $12,282, $15,188 $384, The options and SARs granted to employees of the Company and its subsidiaries and the options granted to non-employee directors of the Company which were outstanding as of December 31, 2018 Outstanding Exercisable Exercise price (range) Number of options and SAR s Weighted average life (years) Weighted average price Number of options and SARs Weighted average life (years) Weighted average price 14.16 - 18.62 346,863 3.2 $ 15.68 344,527 3.2 $ 15.66 19.36 - 19.83 182,995 5.0 $ 19.44 163,050 4.9 $ 19.43 24.86 - 30.60 172,959 5.7 $ 28.75 116,141 4.9 $ 29.06 702,817 4.3 $ 19.88 623,718 4.0 $ 19.14 A RSU award is an agreement to issue shares of the Company’s common stock at the time the award or a portion thereof vests. RSUs granted to employees generally vest in three first 2017, first 2018, two first A summary of the Company’s RSU activities and related information for the year ended December 31, 2018, Number of RSUs Weighted average Grant-Date fair value Unvested as at the beginning of the year 560,616 $ 29.31 Granted 328,896 34.14 Vested (280,890 ) 28.09 Forfeited (44,232 ) 35.12 Unvested at the end of the year 564,390 $ 32.28 Stock Plans As of December 31, 2018, 2003 2011 “2011 As of December 31, 2018, 1,037,600 2011 The 2011 February 2011 May 17, 2011. 2,350,000 2002 “2002 2002 2002 2011 2002 2011 2002 December 31, 2018, no 2002 The 2011 422 2011 may 2011 may Unless sooner terminated, the 2011 February 2021. The Company’s Board of Directors or a committee thereof has authority to administer the 2011 2011 2003 Under the Director Plan, 1,350,000 The Director Plan provides for the grant of nonqualified stock options to non-employee directors. Options must be granted at an exercise price equal to the fair market value of the common stock on the date of grant. Options may not ten Under the original terms of the Director Plan, (a) any person who becomes a non-employee director of the Company was automatically granted an option to purchase 38,000 June 30 2004, six 6 July 1 st 13,000 July 1 st 13,000 six July 1 st 15,000 February 2015, 2011 $268,520, $249,340 $124,670. July 2018, 28,896 February 2019, 38,000 $124,670. The Company’s Board of Directors or a committee thereof may The Company’s Board of Directors or a committee thereof has authority to administer the Director Plan. The Company’s Board of Directors or a committee thereof has the authority to adopt, amend and repeal the administrative rules, guidelines and practices relating to the Director Plan and to interpret its provisions. 2002 The ESPP was adopted by the Company’s Board of Directors and stockholder in July 2002. 423 2,700,000 December 31, 2018, 211,204 All of the Company’s employees who are regularly employed for more than five 20 not The ESPP designates offer periods, purchase periods and exercise dates. Offer periods generally will be overlapping periods of 24 six 50% may The price per share at which shares of common stock may ● 85% ● 85% The participant’s purchase right is exercised in the above noted manner on each exercise date arising during the offer period unless, on the first first The ESPP is administered by the Board of Directors or a committee designated by the Board, which will have the authority to terminate or amend the plan, subject to specified restrictions, and otherwise to administer and resolve all questions relating to the administration of the plan. e. Dividend policy: The Company has never declared or paid any cash dividends on its capital stock and does not |
Note 9 - Derivatives and Hedgin
Note 9 - Derivatives and Hedging Activities | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 9: The fair value of the Company’s outstanding derivative instruments is as follows: As at December 31, 2017 2018 Derivative liabilities Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ — $ 14 Foreign exchange forward contracts — 63 Total $ — $ 77 The Company recorded the fair value of derivative liabilities in “ accrued expenses and other payables” on the Company’s consolidated balance sheets. The increase in unrealized gains (losses) recognized in “accumulated other comprehensive income (loss)” on derivatives, before tax effect, is as follows: Year ended December 31, 2016 2017 2018 Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ 67 $ 90 $ (146 ) Foreign exchange forward contracts 91 93 (285 ) $ 158 $ 183 $ (431 ) The net (gains) losses reclassified from “accumulated other comprehensive income (loss)” into income, are as follows: Year ended December 31, 2016 2017 2018 Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ (67 ) $ (90 ) $ 132 Foreign exchange forward contracts (94 ) (99 ) 222 $ (161 ) $ (189 ) $ 354 The Company recorded in cost of revenues and operating expenses, a net gain of $161 $189, $354 December 31, 2016, 2017 2018, |
Note 10 - Accumulated Other Com
Note 10 - Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 10: The following table summarizes the changes in accumulated balances of other comprehensive income (loss), net of taxes: Year ended December 31, 2017 Year ended December 31, 201 8 Unrealized gains (losses) on available-for-sale marketable securities Unrealized gains (losses) on cash flow hedges Total Unrealized gains (losses) on available-for-sale marketable securities Unrealized gains (losses) on cash flow hedges Total Beginning balance $ (502 ) $ 5 $ (497 ) $ (586 ) $ — $ (586 ) Other comprehensive income (loss) before reclassifications (83 ) 163 80 (521 ) (380 ) (901 ) Amounts reclassified from accumulated other comprehensive income (loss) (1 ) (168 ) (169 ) 61 312 373 Net current period other comprehensive income (loss) (84 ) (5 ) (89 ) (460 ) (68 ) (528 ) Ending balance $ (586 ) $ — $ (586 ) $ (1,046 ) $ (68 ) $ (1,114 ) The following table provides details about reclassifications out of accumulated other comprehensive income (loss): Details about Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Statements of Income Year ended December 31, 2016 2017 2018 Unrealized gains (losses) on cash flow hedges $ 4 $ 4 $ (7 ) Cost of revenues 132 162 (308 ) Research and development 12 10 (13 ) Sales and marketing 13 13 (26 ) General and administrative 161 189 (354 ) Total, before income taxes 18 21 (42 ) Income tax expense 143 168 (312 ) Total, net of income taxes Unrealized gains (losses) on available-for-sale marketable securities (9 ) — (67 ) (1 ) (1 ) (6 ) Income tax benefit (8 ) 1 (61 ) Total, net of income taxes $ 135 $ 169 $ (373 ) Total, net of income taxes |
Note 11 - Geographic Informatio
Note 11 - Geographic Information and Major Customer and Product Data | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 11: a. Summary information about geographic areas: FASB ASC No. 280, one 1 Year ended December 31, 2016 2017 2018 Revenues based on customer location: United States $ 9,134 $ 7,188 $ 8,354 Europe, Middle East (3) 10,901 11,007 17,370 Asia Pacific (1) (2) 52,618 69,312 52,153 $ 72,653 $ 87,507 $ 77,877 (1) China $ 30,030 $ 41,059 $ 33,672 (2) S. Korea $ 15,512 $ 17,842 $ 7,989 (3) Germany *) *) $ 13,873 *) Less than 10% 2017 2018 Long-lived assets by geographic region: Israel 6,196 6,599 France 383 451 United States 185 156 Other 162 138 $ 6,926 $ 7,344 b. Major customer data as a percentage of total revenues: The following table sets forth the customers that represented 10% Year ended December 31, 2016 2017 2018 Customer A 27 % 23 % 15 % Customer B 19 % 17 % *) Customer C *) *) 19 % *) Less than 10% c. Information about Products and Services: The following table sets forth the products and services as percentages of the Company’s total revenues in each of the periods set forth below: Year ended December 31, 2016 2017 2018 DSP products (DSP cores and platforms) 84 % 86 % 76 % Connectivity products (Bluetooth, Wi-Fi and SATA/SAS) 16 % 14 % 24 % |
Note 12 - Selected Statements o
Note 12 - Selected Statements of Income Data | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Interest and Other Income [Text Block] | NOTE 12: a. Financial income, net: Year ended December 31, 2016 2017 2018 Interest income $ 3,300 $ 4,233 $ 4,499 Loss on available-for-sale marketable securities, net (9 ) — (67 ) Amortization of premium on available-for-sale marketable securities, net (1,064 ) (1,179 ) (773 ) Foreign exchange loss, net (188 ) (28 ) (241 ) Total $ 2,039 $ 3,026 $ 3,418 b . Revaluation of investment in other company : The Company recorded a loss of $870 2018 The following table summarizes the total carrying value of the Company’s investment in other company held as of December 31, 2018 Initial cost basis $ 1,806 Downward adjustments (870 ) Total carrying value at the end of the period $ 936 |
Note 13 - Taxes on Income
Note 13 - Taxes on Income | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 13: a. tax reform On December 22, 2017, 35% 21%; 162 one not not January 1, 2018. In connection with its analysis of the impact of the Tax Act, the Company had $16,053K December 31, 2017. not The Tax Act added a new code section 951A, 50% 37.5% 2026. 2018 The BEAT provisions in the Tax Act eliminates the U.S. deduction of certain base-erosion payments made to related foreign corporations, and impose a minimum tax if greater than regular tax. The Company is not not December 31, 2018. The Tax Act amended section 163 30% no The Tax Act limits the carryover of net operating losses to 80% 2017. January 1, 2018 not not 80% 20 2018 80% The Tax Act repealed the exceptions to the section 162 $1 three no The Tax Act amended 168 100% September 27, 2017 January 1, 2023. b. 1. The Irish operating subsidiary qualified for a 12.5% 25%. December 31, 2018, 2013 2. Israeli Subsidiary The Israeli subsidiary has been granted “Approved Enterprise” and “Benefited Enterprise” status under the Israeli Law for the Encouragement of Capital Investments. For such Approved Enterprises and Benefited Enterprises, the Israeli subsidiary elected to apply for alternative tax benefits—the waiver of government grants in return for tax exemptions on undistributed income. Upon distribution of such exempt income, the Israeli subsidiary will be subject to corporate tax at the rate ordinarily applicable to the Approved Enterprise’s or Benefited Enterprise’s income. Such tax exemption on undistributed income applies for a limited period of between two ten ten not 23% The Israeli subsidiary is a foreign investor company, or FIC, as defined by the Investment Law. FICs are entitled to further reductions in the tax rate normally applicable to Approved Enterprises and Benefited Enterprises. Depending on the foreign ownership in each tax year, the tax rate can range between 10% 90% 20% 49% no The Company’s Israeli subsidiary’s tax-exempt profit from Approved Enterprises and Benefited Enterprises is permanently reinvested as the Company’s management has determined that the Company does not not not Income not 23% 2018, 24% 2017 25% 2016. In December 2016, 2017 2018 2016 24% 25% January 1, 2017 23% January 1, 2018. In December 2016, 2017 2018 2016, 1959 73 April 2017. The new tax track under the Amendment, which is applicable to the Company, is the “Technological Preferred Enterprise”. Technological Preferred Enterprise is an enterprise for which total consolidated revenues of its parent company and all subsidiaries are less than 10 12% 7.5% 4%. The Company expects to apply the Technological Preferred Enterprise tax track from tax year 2020 December 31, 2018. The Israeli subsidiary elected to compute taxable income in accordance with Income Tax Regulations (Rules for Accounting for Foreign Investors Companies and Certain Partnerships and Setting their Taxable Income), 1986. As of December 31, 2018, 2014 3. French Subsidiar y In 2017, 2018, 28% €500,000 33.33% €500,000. 2019, 31%, first €500,000 28% 2020, 28% 2021, 26.5%. 2022, 25%. As of December 31, 2018, 2017 c . Taxes on income comprised of: Year ended December 31, 2016 2017 2018 Domestic taxes: Current $ 6 $ (227 ) $ 3 Deferred — — — Foreign taxes: Current 3,932 3,473 2,913 Deferred (613 ) (1,375 ) (2,187 ) $ 3,325 $ 1,871 $ 729 Income before taxes on income: Domestic $ (3,488 ) $ (5,946 ) $ (5,680 ) Foreign 19,913 24,845 6,983 $ 16,425 $ 18,899 $ 1,303 d . Reconciliation between the Company’s effective tax rate and the U.S. statutory rate: Year ended December 31, 2016 2017 2018 Income before taxes on income $ 16,425 $ 18,899 $ 1,303 Theoretical tax at U.S. statutory rate 5,585 6,426 274 Foreign income taxes at rates other than U.S. rate (1,831 ) (2,304 ) 369 Approved and benefited enterprises benefits (*) (2,767 ) (2,698 ) (239 ) Subpart F 538 737 563 Non-deductible items 682 294 217 Non-taxable items (505 ) (529 ) (434 ) Changes in uncertain tax position 505 (1,757 ) 16 Stock-based compensation expense — (1,503 ) (62 ) Deemed mandatory repatriation — 1,916 3,542 Impacts of GILTI — — 880 Changes in valuation allowance 1,212 2,076 (5,005 ) Other, net (94 ) (787 ) 608 Taxes on income $ 3,325 $ 1,871 $ 729 (*)Basic and diluted earnings per share amounts of the benefit resulting from the “Approved Enterprise” and “Benefited Enterprise” status $ 0.13 $ 0.12 $ 0.01 e . Deferred taxes on income: Significant components of the Company’s deferred tax assets are as follows: As at December 31, 2017 2018 Deferred tax assets Operating loss carryforward $ 13,069 $ 9,505 Accrued expenses and deferred revenues 1,057 1,274 Temporary differences related to R&D expenses 2,118 3,194 Equity-based compensation 1,956 2,724 Tax credit carry forward 1,866 1,381 Other 476 705 Total gross deferred tax assets 20,542 18,783 Valuation allowance (16,590 ) (12,745 ) Net deferred tax assets $ 3,952 $ 6,038 Deferred tax liabilities Intangible assets $ 275 $ 114 Other 34 — Total deferred tax liabilities $ 309 $ 114 Net deferred tax assets (*) $ 3,643 $ 5,924 (*) Net deferred taxes for the years ended December 31, 2017 2018 Changes in valuation allowances on deferred tax assets result from management's assessment of the Company's ability to utilize certain future tax deductions, operating losses and tax credit carryforwards prior to expiration. Valuation allowances were recorded to reduce deferred tax assets to an amount that will, more likely than not, As of December 31, 2018, no f . Uncertain tax positions: A reconciliation of the beginning and ending amount of gross unrecognized tax benefits based on the provisions of FASB ASC No. 740 Year ended December 31, 201 7 201 8 Beginning of year $ 3,784 $ 2,224 Additions for current year tax positions 1,188 575 Additions for prior year’s tax positions 255 — Reductions for prior year’s tax positions — (60 ) Decrease as a result of the completion of a tax audit for prior years (3,003 ) — Balance at December 31 $ 2,224 $ 2,739 As of December 31, 2017 2018, $2,224 $2,739, not December 31, 2017 2018 not During the year ended December 31, 2017, $1,805 $130 December 31, 2017 $3,003. The Company believes that an adequate provision has been made for any adjustments that may not not 12 g . Tax loss carryforwards: As of December 31, 2018, $8,249, 2030. As of December 31, 2018, $60,252, December 31, 2018, $4,602, h Tax returns CEVA files income tax returns in the U.S. federal jurisdiction and various state and local jurisdictions. With few exceptions, CEVA is no 2010. |
Note 14 - Commitments and Conti
Note 14 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 14: a. The Company is not b. As of December 31, 2018, Rent expenses for the years ended December 31, 2016, 2017 2018, $1,259, $1,417 $1,481, As of December 31, 2018, Minimum rental leasehold properties Commitments for other lease obligations Other purchase obligations Total 2019 1,431 1,764 584 3,779 2020 1,624 — — 1,624 2021 234 — — 234 2022 33 — — 33 Total $ 3,322 $ 1,764 $ 584 $ 5,670 c. Royalties: The Company participated in programs sponsored by the Israeli government for the support of research and development activities. Through December 31, 2018, 3% 3.5% 100% no Royalty expenses relating to the IIA grants included in cost of revenues for the years ended December 31, 2016, 2017 2018 $539, $1,016 $842, December 31, 2018, $23,288. |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | CEVA, INC. SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS Balance at beginning of period Additions Deduction Balance at end of period Year ended December 31, 2018 Allowance for doubtful accounts $ — $ — $ — $ — Year ended December 31, 2017 Allowance for doubtful accounts $ — $ — $ — $ — Year ended December 31, 2016 Allowance for doubtful accounts $ 25 $ — $ 25 $ — |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Organization [Policy Text Block] | Organization: CEVA, Inc. (“CEVA” or the “Company”) was incorporated in Delaware on November 22, 1999. November 2002. no CEVA licenses a family of signal processing IPs, including comprehensive platforms for 5G 4/5/6 4x4 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 Accounting, Policy [Policy Text Block] | Basis of presentation: The consolidated financial statements have been prepared according to U.S Generally Accepted Accounting Principles (“U.S. GAAP”). |
Use of Estimates, Policy [Policy Text Block] | Use of estimates : The preparation of the 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 financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Financial statements in U.S. dollars : A majority of the revenues of the Company and its subsidiaries is generated in U.S. dollars (“dollars”). In addition, a portion of the Company and its subsidiaries’ costs are incurred in dollars. The Company’s management has determined that the dollar is the primary currency of the economic environment in which the Company and its subsidiaries principally operate. Thus, the functional and reporting currency of the Company and its subsidiaries is the dollar. Accordingly, monetary accounts maintained in currencies other than the dollar are remeasured into dollars in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 830, |
Consolidation, Policy [Policy Text Block] | Principles of consolidation : The consolidated financial statements incorporate the financial statements of the Company and all of its subsidiaries. All significant inter-company balances and transactions have been eliminated on consolidation. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash equivalents : Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three |
Short-term Deposit [Policy Text Block] | Short-term bank deposits : Short-term bank deposits are deposits with maturities of more than three one 1.76%, 1.85% 2.16% 2016, 2017 2018, |
Marketable Securities, Policy [Policy Text Block] | Marketable securities : Marketable securities consist mainly of corporate bonds. The Company determines the appropriate classification of marketable securities at the time of purchase and re-evaluates such designation at each balance sheet date. In accordance with FASB ASC No. 320 may one The Company recognizes an impairment charge when a decline in the fair value of its investments in debt securities below the cost basis of such securities is judged to be other-than-temporary. Factors considered in making such a determination include the duration and severity of the impairment, the reason for the decline in value and the potential recovery period. For securities that are deemed other-than-temporarily impaired (“OTTI”), the amount of impairment is recognized in the statement of income and is limited to the amount related to credit losses, while impairment related to other factors is recognized in other comprehensive income (loss). The Company did not 2016, 2017 2018. |
Long-term Investments [Policy Text Block] | Long-term bank deposits : Long-term bank deposits are deposits with maturities of more than one 1.97%, 2.26% 2.57% 2016, 2017 2018, |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and equipment, net : Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets, at the following annual rates: % Computers, software and equipment 10 - 33 Office furniture and equipment 7 - 33 Leasehold improvements 10 - 25 (the shorter of the expected lease term or useful economic life) The Company’s long-lived assets are reviewed for impairment in accordance with FASB ASC No. 360 10 35, may not An asset to be disposed is reported at the lower of its carrying amount or fair value less selling costs. No 2016, 2017 2018. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill : Goodwill is carried at cost and is not October 1st The Company operates in one There is a two first second second three December 31, 2018, no |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Intangible assets, net : Acquired intangible assets with definite lives are amortized over their estimated useful lives. The Company amortizes intangible assets on a straight-line basis with definite lives over periods ranging from one seven Intangible assets with definite lives are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not not December 31, 2016, 2017 2018. |
Investment, Policy [Policy Text Block] | Investments in other company : The Company's non-marketable equity securities are investments in privately held companies without readily determinable market values. Prior to January 1, 2018, December 31, 2017, $1,806. Effective January 1, 2018, 2016 01, not not not During the year ended December 31, 2018, $870 December 31, 2016 2017, no |
Revenue from Contract with Customer [Policy Text Block] | Revenue recognition : Effective as of January 1, 2018, 606, Revenue from Contracts with Customers 606” 2 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 2 3 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. may 606, 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 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 company’s performance does not first 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 unbilled receivables. When the Company does not 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 support, correction of errors (bug fixing) and unspecified updates and upgrades. Fees for post contract support, which takes place after delivery to the customer, are specified in the contract and are generally mandatory for the first may 12 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 The Company capitalizes sales commission as costs of obtaining a contract when they are incremental and, if they are expected to be recovered, amortized in a manner consistent with the pattern of transfer of the good or service to which the asset relates. If the expected amortization period is one |
Revenue from Contract with Customer, Cost of Sales [Policy Text Block] | Cost of revenue : Cost of revenue includes the costs of products, services and royalty expense payments to the Israeli Innovation Authority of the Ministry of Economy and Industry in Israel (the “IIA“) (refer to Note 14 |
Income Tax, Policy [Policy Text Block] | Income taxes : The Company recognizes income taxes under the liability method. It recognizes deferred income tax assets and liabilities for the expected future consequences of temporary differences between the financial reporting and tax bases of assets and liabilities. These differences are measured using the enacted statutory tax rates that are expected to apply to taxable income for the years in which differences are expected to reverse. The effect of a change in tax rates on deferred income taxes is recognized in the statements of income during the period that includes the enactment date. Valuation allowance is recorded to reduce the deferred tax assets to the net amount that the Company believes is more likely than not The Company accounts for uncertain tax positions in accordance with ASC 740. 740 10 two first not second 50% |
Research and Development Expense, Policy [Policy Text Block] | Research and development : Research and development costs are charged to the consolidated statements of income as incurred. |
Government Grants and Tax Credits [Policy Text Block] | Government grants and tax credits : Government grants received by the Company relating to categories of operating expenditures are credited to the consolidated statements of income during the period in which the expenditure to which they relate is charged. Royalty and non-royalty-bearing grants from the IIA for funding certain approved research and development projects are recognized at the time when the Company is entitled to such grants, on the basis of the related costs incurred, and included as a deduction from research and development expenses. The Company recorded grants in the amounts of $6,410, $4,137 $3,352 December 31, 2016, 2017 2018, 3% 3.5% may not The French Research Tax Credit, Crédit d’Impôt Recherche (“CIR”), is a French tax incentive to stimulate research and development (“R&D”) which is relevant for the Company's French subsidiaries (RivieraWaves and CEVA France). Generally, the CIR offsets the income tax to be paid and the remaining portion (if any) can be refunded. The CIR is calculated based on the claimed volume of eligible R&D expenditures by the Company. As a result, the CIR is presented as a deduction to “Research and development expenses” in the consolidated statements of income. During the years ended December 31, 2016, 2017 2018, $1,485, $1,555 $2,065, |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | Employee benefit plan : Certain of the Company’s employees are eligible to participate in a defined contribution pension plan (the “Plan”). Participants in the Plan may 10% The Company’s U.S. operations maintain a retirement plan (the “U.S. Plan”) that qualifies as a deferred salary arrangement under Section 401 may 100% 6% may 15% Total contributions for the years ended December 31, 2016, 2017 2018 $1,020, $988 $1,048, |
Severance Pay [Policy Text Block] | Accrued severance pay : The liability of CEVA’s Israeli subsidiary for severance pay for employees hired prior to August 1, 2016 may Effective August 1, 2016, 14 1963. no no not Severance pay expenses, net of related income, for the years ended December 31, 2016, 2017 2018, $1,348, $1,413 $1,818, |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Equity-based compensation : The Company accounts for equity-based compensation in accordance with FASB ASC No. 718, In March 2016, 2016 09, 718 2016 09” 2016 09 2016 09 December 15, 2016. 2016 09 first 2017, no first 2017, 2016 09 not The Company estimates the fair value of options and stock appreciation right (“SAR”) awards on the date of grant using an option-pricing model. The value of the portion of an award that is ultimately expected to vest is recognized as an expense over the requisite service period in the Company’s consolidated statements of income. The Company recognizes compensation expenses for the value of its options and SARs, which have graded vesting based on the accelerated attribution method over the requisite service period of each of the awards. Prior to January 1, 2017, The Company recognizes compensation expenses for the value of its restricted stock unit (“RSU”) awards, based on the straight-line method over the requisite service period of each of the awards. The fair value of each RSU is the market value as determined by the closing price of the common stock on the day of grant. The Company uses the Monte-Carlo simulation model for options and SARs granted. The Monte-Carlo simulation model uses the assumptions noted below. Expected volatility was calculated based upon actual historical stock price movements over the most recent periods ending on the grant date, equal to the expected option and SAR term. The Company has historically not no zero The fair value for the Company’s stock options and SARs (other than share issuances in connection with the employee stock purchase plan, as detailed below) granted to employees and non-employees directors was estimated using the following assumptions (neither options nor SARs were granted during 2017 2018 2016 (* Expected dividend yield 0% Expected volatility 38% - 49% Risk-free interest rate 0.5% - 2.4% Expected forfeiture (employees) — Expected forfeiture (executives) 5% Contractual term of up to (years) 10 Suboptimal exercise multiple (employees) — Suboptimal exercise multiple (executives) 2.4 (* During 2016, 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: 2016 2017 2018 Expected dividend yield 0% 0% 0% Expected volatility 29% - 57% 28% - 46% 35% - 42% Risk-free interest rate 0.3% - 0.5% 0.5% - 1.1% 0.7% - 2.2% Expected forfeiture 0% 0% 0% Contractual term of up to (months) 24 24 24 During the years ended December 31, 2016, 2017 2018, Year ended December 31, 201 6 201 7 201 8 Cost of revenue $ 246 $ 459 $ 588 Research and development, net 2,860 3,839 5,141 Sales and marketing 922 1,428 1,587 General and administrative 2,208 2,967 3,051 Total equity-based compensation expense $ 6,236 $ 8,693 $ 10,367 As of December 31, 2018, $217 1.1 December 31, 2018, $11,432 1.5 |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair value of financial instruments : The carrying amount of cash, cash equivalents, short term bank deposits, trade receivables, other accounts receivable, trade payables and other accounts payable approximates fair value due to the short-term maturities of these instruments. Marketable securities and derivative instruments are carried at fair value. See Note 4 |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive income (loss) : The Company accounts for comprehensive income (loss) in accordance with FASB ASC No. 220, |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of credit risk : Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents, bank deposits, marketable securities, foreign exchange contracts and trade receivables. The Company invests its surplus cash in cash deposits and marketable securities in financial institutions and has established guidelines relating to diversification and maturities to maintain safety and liquidity of the investments. The majority of the Company’s cash and cash equivalents are invested in high grade certificates of deposits with major U.S., European and Israeli banks. Generally, cash and cash equivalents and bank deposits may one no no not December 31, 2018, no 2018. no The Company is exposed primarily to fluctuations in the level of U.S. interest rates. To the extent that interest rates rise, fixed interest investments may may The Company is exposed to financial market risks, including changes in interest rates. The Company typically does not The Company’s trade receivables are geographically diverse, mainly in the Asia Pacific, and also in the United States and Europe. Concentration of credit risk with respect to trade receivables is limited by credit limits, ongoing credit evaluation and account monitoring procedures. The Company performs ongoing credit evaluations of its customers and to date has not The Company has no |
Derivatives, Policy [Policy Text Block] | Derivative and hedging activities : The Company follows the requirements of FASB ASC No. 815,” one twelve 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 December 31, 2017 2018, $0 $9,100, |
Advertising Costs, Policy [Policy Text Block] | Advertising expenses : Advertising expenses are charged to consolidated statements of income as incurred. Advertising expenses for the years ended December 31, 2016, 2017 2018 $1,033, $1,118 $1,080, |
Treasury Stock [Policy Text Block] | Treasury stock : The Company repurchases its common stock from time to time pursuant to a board-authorized share repurchase program through open market purchases and repurchase plans. 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, |
Earnings Per Share, Policy [Policy Text Block] | Net income per share of common stock : Basic net income per share is computed based on the weighted average number of shares of common stock outstanding during each year. Diluted net income per share is computed based on the weighted average number of shares of common stock outstanding during each year, plus dilutive potential shares of common stock considered outstanding during the year, in accordance with FASB ASC No. 260, Year ended December 31, 2016 2017 2018 Numerator : Net income $ 13,100 $ 17,028 $ 574 Denominator (in thousands) : Basic weighted-average common stock outstanding 20,850 21,771 22,034 Effect of stock-based awards 715 790 469 Diluted weighted-average common stock outstanding 21,565 22,561 22,503 Basic net income per share $ 0.63 $ 0.78 $ 0.03 Diluted net income per share $ 0.61 $ 0.75 $ 0.03 The weighted-average number of shares related to outstanding options, SARs and RSUs excluded from the calculation of diluted net income per share, since their effect was anti-dilutive, were 282,696, 29,892 161,362 December 31, 2016 2017 2018, |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncement : (a) Leases In February 2016, 2016 02, 842 840, December 15, 2018, 2016 02 July 2018, No. 2018 11, 842 not The Company currently estimates recording lease assets and liabilities in excess of $9,498 no (b) Other accounting standards In January 2016, 2016 13, 2016 13 January 1, 2020, In January 2017, No. 2017 04, 2 not zero 2 December 15, 2019. January 1, 2017. not In August 2017, 2017 12, 815 2017 12” December 15, 2018, 2017 12 |
Note 1 - Organization and Sig_2
Note 1 - Organization and Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Property, Plant and Equipment, Annual Depreciation Rates [Table Text Block] | % Computers, software and equipment 10 - 33 Office furniture and equipment 7 - 33 Leasehold improvements 10 - 25 (the shorter of the expected lease term or useful economic life) |
Schedule of Share-based Payment Award, Stock Options and Stock Appreciation Rights, Valuation Assumptions [Table Text Block] | 2016 (* Expected dividend yield 0% Expected volatility 38% - 49% Risk-free interest rate 0.5% - 2.4% Expected forfeiture (employees) — Expected forfeiture (executives) 5% Contractual term of up to (years) 10 Suboptimal exercise multiple (employees) — Suboptimal exercise multiple (executives) 2.4 |
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | 2016 2017 2018 Expected dividend yield 0% 0% 0% Expected volatility 29% - 57% 28% - 46% 35% - 42% Risk-free interest rate 0.3% - 0.5% 0.5% - 1.1% 0.7% - 2.2% Expected forfeiture 0% 0% 0% Contractual term of up to (months) 24 24 24 |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Year ended December 31, 201 6 201 7 201 8 Cost of revenue $ 246 $ 459 $ 588 Research and development, net 2,860 3,839 5,141 Sales and marketing 922 1,428 1,587 General and administrative 2,208 2,967 3,051 Total equity-based compensation expense $ 6,236 $ 8,693 $ 10,367 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year ended December 31, 2016 2017 2018 Numerator : Net income $ 13,100 $ 17,028 $ 574 Denominator (in thousands) : Basic weighted-average common stock outstanding 20,850 21,771 22,034 Effect of stock-based awards 715 790 469 Diluted weighted-average common stock outstanding 21,565 22,561 22,503 Basic net income per share $ 0.63 $ 0.78 $ 0.03 Diluted net income per share $ 0.61 $ 0.75 $ 0.03 |
Note 2 - Revenue Recognition (T
Note 2 - Revenue Recognition (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | 2019 2020 2021 License and related revenues $ 12,567 $ 3,948 $ 1,500 |
Disaggregation of Revenue [Table Text Block] | Year ended December 3 1 , 2018 (audited) Licensing and related revenues Royalties Total Primary geographical markets United States $ 6,260 $ 2,094 $ 8,354 Europe and Middle East 3,672 13,698 17,370 Asia Pacific 30,514 21,639 52,153 Total $ 40,446 $ 37,431 $ 77,877 Major product/service lines DSP products (DSP cores and platforms) $ 25,369 $ 34,097 $ 59,466 Connectivity products (Bluetooth, Wi-Fi and SATA/SAS) 15,077 3,334 18,411 Total $ 40,446 $ 37,431 $ 77,877 Timing of revenue recognition Products transferred at a point in time $ 30,744 $ 37,431 $ 68,175 Products and services transferred over time 9,702 — 9,702 Total $ 40,446 $ 37,431 $ 77,877 |
Contract with Customer, Asset and Liability [Table Text Block] | December 3 1 , 2018 Trade receivables $ 9,971 Unbilled receivables (associated with licensing and other) 6,745 Unbilled receivables (associated with royalties) 9,440 Deferred revenues (short-term contract liabilities) 3,593 |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | Year ended December 3 1 , 2018 As reported Balance without adopting ASC 606 Effect of change higher/(lower) Revenues: Licensing and related revenue $ 40,446 $ 35,873 $ 4,573 Royalties 37,431 37,926 (495 ) Total revenues 77,877 73,799 4,078 Cost of revenues 7,951 7,951 — Gross profit 69,926 65,848 4,078 Operating expenses: Sales and marketing 12,161 12,139 22 Other operating expenses 59,010 59,010 — Total operating expenses 71,171 71,149 22 Operating loss (1,245 ) (5,301 ) 4,056 Financial income, net 3,418 3,418 — Revaluation of investment in other company (870 ) (870 ) — Income (loss) before taxes on income 1,303 (2,753 ) 4,056 Income taxes 729 356 373 Net income (loss) $ 574 $ (3,109 ) $ 3,683 Basic net income (loss) per share $ 0.03 $ (0.14 ) $ 0.17 Diluted net income (loss) per share $ 0.03 $ (0.14 ) $ 0.16 December 3 1 , 2018 As reported Balance without adopting ASC 606 Effect of change higher/(lower) Assets: Trade receivables $ 26,156 $ 12,875 $ 13,281 Prepaid expenses and other current assets $ 5,264 $ 6,307 $ (1,043 ) Stockholders' equity: Retained earnings $ 62,853 $ 50,615 $ 12,238 |
Note 3 - Marketable Securities
Note 3 - Marketable Securities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | As at December 31, 2018 Amortized cost Gross gains Gross losses Fair value Available-for-sale - matures within one year: Corporate bonds $ 6,094 $ — $ (32 ) $ 6,062 6,094 — (32 ) 6,062 Available-for-sale - matures after one year through five years: Certificate of deposits 747 — — 747 Government bonds 501 — (5 ) 496 Corporate bonds 71,350 134 (1,320 ) 70,164 72,598 134 (1,325 ) 71,407 Total $ 78,692 $ 134 $ (1,357 ) $ 77,469 As at December 31, 2017 Amortized cost Gross gains Gross losses Fair value Available-for-sale - matures within one year: Corporate bonds $ 11,803 $ 3 $ (12 ) $ 11,794 11,803 3 (12 ) 11,794 Available-for-sale - matures after one year through five years: 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 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | Less than 12 months 12 months or greater Fair Value Gross unrealized loss Fair Value Gross unrealized loss As of December 31, 2018 $ 16,580 $ (192 ) $ 52,590 $ (1,165 ) As of December 31, 2017 $ 49,921 $ (411 ) $ 22,960 $ (284 ) |
Schedule of Realized Gain (Loss) [Table Text Block] | Year ended December 31, 2016 2017 2018 Gross realized gains from sale of available-for-sale marketable securities $ 24 $ 47 $ 4 Gross realized losses from sale of available-for-sale marketable securities $ (33 ) $ (47 ) $ (71 ) |
Note 4 - Fair Value Measureme_2
Note 4 - Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Description December 31, 201 8 Level I Level II Level III Assets: Marketable securities: Certificate of deposits $ 747 — $ 747 — Government bonds 496 — 496 — Corporate bonds 76,226 — 76,226 — Investment in other company (1) 936 — — 936 Liabilities: Foreign exchange contracts 77 — 77 — Description December 31, 201 7 Level I Level II Level III Assets: Marketable securities: Certificate of deposits $ 747 — $ 747 — Government bonds 495 — 495 — Corporate bonds 81,422 — 81,422 — |
Note 5 - Property and Equipme_2
Note 5 - Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Composition of assets, grouped by major classifications, is as follows: As at December 31, 2017 2018 Cost: Computers, software and equipment $ 13,570 $ 16,431 Office furniture and equipment 797 832 Leasehold improvements 2,756 2,880 17,123 20,143 Less – Accumulated depreciation (10,197 ) (12,799 ) Property and equipment, net $ 6,926 $ 7,344 |
Note 6 - Intangible Assets, N_2
Note 6 - Intangible Assets, Net (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Year ended December 31, 2017 Year ended December 31, 2018 Weighted Average Amortization P eriod ( Y ears) Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Intangible assets –amortizable: Customer relationships 4.5 $ 272 $ 211 $ 61 $ 272 $ 272 $ — Customer backlog 1.5 93 93 — 93 93 — Core technologies 5.1 5,796 4,115 1,681 5,796 4,955 841 NB-IoT technologies 7.0 — — — 2,200 341 1,859 Total intangible assets $ 6,161 $ 4,419 $ 1,742 $ 8,361 $ 5,661 $ 2,700 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2019 1,155 2020 314 2021 314 2022 314 2023 314 2024 289 $ 2,700 |
Note 7 - Accrued Expenses and_2
Note 7 - Accrued Expenses and Other Payables (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | As at December 31, 2017 2018 Engineering accruals $ 977 $ 884 Professional fees 792 752 Government grants 791 417 Income taxes payable, net 45 141 Facility related accruals 290 259 Intangible assets — 750 Other 1,032 1,141 Total $ 3,927 $ 4,344 |
Note 8 - Stockholders' Equity (
Note 8 - Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Number of SAR units (1) Weighted price Weighted average remaining contractual term Aggregate intrinsic-value Outstanding at the beginning of the year 729,017 $ 19.77 5.2 $ 19,229 Granted — — Exercised (22,530 ) 16.07 Forfeited or expired (3,670 ) 22.67 Outstanding at the end of the year (2) 702,817 $ 19.88 4.3 $ 2,708 Exercisable at the end of the year (3) 623,718 $ 19.14 4.0 $ 2,648 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Outstanding Exercisable Exercise price (range) Number of options and SAR s Weighted average life (years) Weighted average price Number of options and SARs Weighted average life (years) Weighted average price 14.16 - 18.62 346,863 3.2 $ 15.68 344,527 3.2 $ 15.66 19.36 - 19.83 182,995 5.0 $ 19.44 163,050 4.9 $ 19.43 24.86 - 30.60 172,959 5.7 $ 28.75 116,141 4.9 $ 29.06 702,817 4.3 $ 19.88 623,718 4.0 $ 19.14 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | Number of RSUs Weighted average Grant-Date fair value Unvested as at the beginning of the year 560,616 $ 29.31 Granted 328,896 34.14 Vested (280,890 ) 28.09 Forfeited (44,232 ) 35.12 Unvested at the end of the year 564,390 $ 32.28 |
Note 9 - Derivatives and Hedg_2
Note 9 - Derivatives and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Derivative Instruments [Table Text Block] | As at December 31, 2017 2018 Derivative liabilities Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ — $ 14 Foreign exchange forward contracts — 63 Total $ — $ 77 |
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] | Year ended December 31, 2016 2017 2018 Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ 67 $ 90 $ (146 ) Foreign exchange forward contracts 91 93 (285 ) $ 158 $ 183 $ (431 ) |
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Year ended December 31, 2016 2017 2018 Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ (67 ) $ (90 ) $ 132 Foreign exchange forward contracts (94 ) (99 ) 222 $ (161 ) $ (189 ) $ 354 |
Note 10 - Accumulated Other C_2
Note 10 - Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Year ended December 31, 2017 Year ended December 31, 201 8 Unrealized gains (losses) on available-for-sale marketable securities Unrealized gains (losses) on cash flow hedges Total Unrealized gains (losses) on available-for-sale marketable securities Unrealized gains (losses) on cash flow hedges Total Beginning balance $ (502 ) $ 5 $ (497 ) $ (586 ) $ — $ (586 ) Other comprehensive income (loss) before reclassifications (83 ) 163 80 (521 ) (380 ) (901 ) Amounts reclassified from accumulated other comprehensive income (loss) (1 ) (168 ) (169 ) 61 312 373 Net current period other comprehensive income (loss) (84 ) (5 ) (89 ) (460 ) (68 ) (528 ) Ending balance $ (586 ) $ — $ (586 ) $ (1,046 ) $ (68 ) $ (1,114 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Details about Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Statements of Income Year ended December 31, 2016 2017 2018 Unrealized gains (losses) on cash flow hedges $ 4 $ 4 $ (7 ) Cost of revenues 132 162 (308 ) Research and development 12 10 (13 ) Sales and marketing 13 13 (26 ) General and administrative 161 189 (354 ) Total, before income taxes 18 21 (42 ) Income tax expense 143 168 (312 ) Total, net of income taxes Unrealized gains (losses) on available-for-sale marketable securities (9 ) — (67 ) (1 ) (1 ) (6 ) Income tax benefit (8 ) 1 (61 ) Total, net of income taxes $ 135 $ 169 $ (373 ) Total, net of income taxes |
Note 11 - Geographic Informat_2
Note 11 - Geographic Information and Major Customer and Product Data (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Revenue from External Customers by Geographic Areas [Table Text Block] | Year ended December 31, 2016 2017 2018 Revenues based on customer location: United States $ 9,134 $ 7,188 $ 8,354 Europe, Middle East (3) 10,901 11,007 17,370 Asia Pacific (1) (2) 52,618 69,312 52,153 $ 72,653 $ 87,507 $ 77,877 (1) China $ 30,030 $ 41,059 $ 33,672 (2) S. Korea $ 15,512 $ 17,842 $ 7,989 (3) Germany *) *) $ 13,873 |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | 2017 2018 Long-lived assets by geographic region: Israel 6,196 6,599 France 383 451 United States 185 156 Other 162 138 $ 6,926 $ 7,344 |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Year ended December 31, 2016 2017 2018 Customer A 27 % 23 % 15 % Customer B 19 % 17 % *) Customer C *) *) 19 % |
Revenue from External Customers by Products and Services [Table Text Block] | Year ended December 31, 2016 2017 2018 DSP products (DSP cores and platforms) 84 % 86 % 76 % Connectivity products (Bluetooth, Wi-Fi and SATA/SAS) 16 % 14 % 24 % |
Note 12 - Selected Statements_2
Note 12 - Selected Statements of Income Data (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Interest and Other Income [Table Text Block] | Year ended December 31, 2016 2017 2018 Interest income $ 3,300 $ 4,233 $ 4,499 Loss on available-for-sale marketable securities, net (9 ) — (67 ) Amortization of premium on available-for-sale marketable securities, net (1,064 ) (1,179 ) (773 ) Foreign exchange loss, net (188 ) (28 ) (241 ) Total $ 2,039 $ 3,026 $ 3,418 |
Equity Securities without Readily Determinable Fair Value [Table Text Block] | Initial cost basis $ 1,806 Downward adjustments (870 ) Total carrying value at the end of the period $ 936 |
Note 13 - Taxes on Income (Tabl
Note 13 - Taxes on Income (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year ended December 31, 2016 2017 2018 Domestic taxes: Current $ 6 $ (227 ) $ 3 Deferred — — — Foreign taxes: Current 3,932 3,473 2,913 Deferred (613 ) (1,375 ) (2,187 ) $ 3,325 $ 1,871 $ 729 Income before taxes on income: Domestic $ (3,488 ) $ (5,946 ) $ (5,680 ) Foreign 19,913 24,845 6,983 $ 16,425 $ 18,899 $ 1,303 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year ended December 31, 2016 2017 2018 Income before taxes on income $ 16,425 $ 18,899 $ 1,303 Theoretical tax at U.S. statutory rate 5,585 6,426 274 Foreign income taxes at rates other than U.S. rate (1,831 ) (2,304 ) 369 Approved and benefited enterprises benefits (*) (2,767 ) (2,698 ) (239 ) Subpart F 538 737 563 Non-deductible items 682 294 217 Non-taxable items (505 ) (529 ) (434 ) Changes in uncertain tax position 505 (1,757 ) 16 Stock-based compensation expense — (1,503 ) (62 ) Deemed mandatory repatriation — 1,916 3,542 Impacts of GILTI — — 880 Changes in valuation allowance 1,212 2,076 (5,005 ) Other, net (94 ) (787 ) 608 Taxes on income $ 3,325 $ 1,871 $ 729 (*)Basic and diluted earnings per share amounts of the benefit resulting from the “Approved Enterprise” and “Benefited Enterprise” status $ 0.13 $ 0.12 $ 0.01 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | As at December 31, 2017 2018 Deferred tax assets Operating loss carryforward $ 13,069 $ 9,505 Accrued expenses and deferred revenues 1,057 1,274 Temporary differences related to R&D expenses 2,118 3,194 Equity-based compensation 1,956 2,724 Tax credit carry forward 1,866 1,381 Other 476 705 Total gross deferred tax assets 20,542 18,783 Valuation allowance (16,590 ) (12,745 ) Net deferred tax assets $ 3,952 $ 6,038 Deferred tax liabilities Intangible assets $ 275 $ 114 Other 34 — Total deferred tax liabilities $ 309 $ 114 Net deferred tax assets (*) $ 3,643 $ 5,924 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | Year ended December 31, 201 7 201 8 Beginning of year $ 3,784 $ 2,224 Additions for current year tax positions 1,188 575 Additions for prior year’s tax positions 255 — Reductions for prior year’s tax positions — (60 ) Decrease as a result of the completion of a tax audit for prior years (3,003 ) — Balance at December 31 $ 2,224 $ 2,739 |
Note 14 - Commitments and Con_2
Note 14 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Minimum rental leasehold properties Commitments for other lease obligations Other purchase obligations Total 2019 1,431 1,764 584 3,779 2020 1,624 — — 1,624 2021 234 — — 234 2022 33 — — 33 Total $ 3,322 $ 1,764 $ 584 $ 5,670 |
Schedule II - Valuation and Q_2
Schedule II - Valuation and Qualifying Accounts (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule II Valuation and Qualifying Accounts [Table Text Block] | Balance at beginning of period Additions Deduction Balance at end of period Year ended December 31, 2018 Allowance for doubtful accounts $ — $ — $ — $ — Year ended December 31, 2017 Allowance for doubtful accounts $ — $ — $ — $ — Year ended December 31, 2016 Allowance for doubtful accounts $ 25 $ — $ 25 $ — |
Note 1 - Organization and Sig_3
Note 1 - Organization and Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jan. 01, 2019 | |
Other-than-temporary Impairment Loss, Debt Securities, Portion Recognized in Earnings, Total | $ 0 | $ 0 | $ 0 | ||
Impairment of Long-Lived Assets to be Disposed of | $ 0 | 0 | 0 | ||
Number of Operating Segments | 1 | ||||
Goodwill, Impairment Loss | $ 0 | 0 | 0 | ||
Impairment of Intangible Assets, Finite-lived | 0 | 0 | 0 | ||
Cost Method Investments | $ 1,806,000 | 1,806,000 | |||
Other than Temporary Impairment Losses, Investments, Total | $ 870,000 | 0 | 0 | ||
Technical Support Period | 1 year | ||||
Sales Commission, Expected Amortization Period Within Which the Sales Commission Fee is Expensed When Incurred | 1 year | ||||
Reduction from Research and Development Expenses Due to Receipt of Grants | 4,137,000 | $ 3,352,000 | 6,410,000 | ||
Research and Development Tax Credit | $ 2,065,000 | 1,555,000 | 1,485,000 | ||
Defined Contribution Plan, Contribution Rate | 10.00% | ||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100.00% | ||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 6.00% | ||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 15.00% | ||||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 1,048,000 | 988,000 | 1,020,000 | ||
Severance Costs | 1,818,000 | 1,413,000 | 1,348,000 | ||
Advertising Expense | $ 1,080,000 | $ 1,118,000 | $ 1,033,000 | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 161,362 | 29,892 | 282,696 | ||
Number of Reporting Units | 1 | ||||
Accounting Standards Update 2016-02 [Member] | Subsequent Event [Member] | |||||
Operating Lease, Right-of-Use Asset | $ 9,498,000 | ||||
Operating Lease, Liability, Total | $ 9,498,000 | ||||
Foreign Exchange Forward and Option Contracts [Member] | Cash Flow Hedging [Member] | |||||
Derivative, Notional Amount | $ 0 | $ 9,100,000 | $ 0 | ||
Stock Options, Stock Appreciation Rights and Employee Stock Purchase Plan [Member] | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 217,000 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 36 days | ||||
Restricted Stock Units (RSUs) [Member] | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 11,432,000 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 182 days | ||||
Minimum [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 1 year 182 days | ||||
Percentage of Royalty Expense | 3.00% | ||||
Minimum [Member] | Foreign Exchange Forward and Option Contracts [Member] | Cash Flow Hedging [Member] | |||||
Payroll of Non-US Employees Hedged, Term of Hedging Contracts | 30 days | ||||
Maximum [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 7 years | ||||
Percentage of Royalty Expense | 3.50% | ||||
Maximum [Member] | Foreign Exchange Forward and Option Contracts [Member] | Cash Flow Hedging [Member] | |||||
Payroll of Non-US Employees Hedged, Term of Hedging Contracts | 1 year | ||||
Short-term Investments [Member] | |||||
Percentage of Interest Rate, Savings Deposits | 1.85% | 2.16% | 1.85% | 1.76% | |
Long-term Investments [Member] | |||||
Percentage of Interest Rate, Savings Deposits | 2.26% | 2.57% | 2.26% | 1.97% |
Note 1 - Organization and Sig_4
Note 1 - Organization and Significant Accounting Policies - Annual Depreciation Rates of Property, Plant and Equipment (Details) | Dec. 31, 2018 |
Minimum [Member] | Computers, Software and Equipment [Member] | |
Computers, software and equipment | 10.00% |
Minimum [Member] | Office Furniture and Equipment [Member] | |
Computers, software and equipment | 7.00% |
Minimum [Member] | Leasehold Improvements [Member] | |
Computers, software and equipment | 10.00% |
Maximum [Member] | Computers, Software and Equipment [Member] | |
Computers, software and equipment | 33.00% |
Maximum [Member] | Office Furniture and Equipment [Member] | |
Computers, software and equipment | 33.00% |
Maximum [Member] | Leasehold Improvements [Member] | |
Computers, software and equipment | 25.00% |
Note 1 - Organization and Sig_5
Note 1 - Organization and Significant Accounting Policies - Assumptions Used to Estimate Fair Value of Stock Options Granted (Details) | 12 Months Ended | |
Dec. 31, 2016 | [1] | |
Expected dividend yield | 0.00% | |
Expected volatility, minimum | 38.00% | |
Expected volatility, maximum | 49.00% | |
Risk-free interest rate, minimum | 0.50% | |
Risk-free interest rate, maximum | 2.40% | |
Expected forfeiture (employees) | ||
Expected forfeiture (executives) | 5.00% | |
Contractual term of up to (years) (Year) | 10 years | |
Employees [Member] | ||
Suboptimal exercise multiple | ||
Executives [Member] | ||
Suboptimal exercise multiple | 2.4 | |
[1] | During 2016, the Company granted stock options only to its non-employee directors. |
Note 1 - Organization and Sig_6
Note 1 - Organization and Significant Accounting Policies - Assumptions Used to Estimate Fair Value of Employee Stock Purchase Plan (Details) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Expected dividend yield | [1] | 0.00% | ||
Expected volatility, minimum | [1] | 38.00% | ||
Expected volatility, maximum | [1] | 49.00% | ||
Risk-free interest rate, minimum | [1] | 0.50% | ||
Risk-free interest rate, maximum | [1] | 2.40% | ||
Expected forfeiture | [1] | |||
Contractual term of up to (years) (Year) | [1] | 10 years | ||
Employee Stock Purchase Plan [Member] | ||||
Expected dividend yield | 0.00% | 0.00% | 0.00% | |
Expected volatility, minimum | 35.00% | 28.00% | 29.00% | |
Expected volatility, maximum | 42.00% | 46.00% | 57.00% | |
Risk-free interest rate, minimum | 0.70% | 0.50% | 0.30% | |
Risk-free interest rate, maximum | 2.20% | 1.10% | 0.50% | |
Expected forfeiture | 0.00% | 0.00% | 0.00% | |
Contractual term of up to (years) (Year) | 2 years | 2 years | 2 years | |
[1] | During 2016, the Company granted stock options only to its non-employee directors. |
Note 1 - Organization and Sig_7
Note 1 - Organization and Significant Accounting Policies - Equity-based Compensation Expenses Related to Stock Options, SARs, RSUs and Employee Stock Purchase Plan (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Total equity-based compensation expense | $ 10,367 | $ 8,693 | $ 6,236 |
Cost of Sales [Member] | |||
Total equity-based compensation expense | 588 | 459 | 246 |
Research and Development Expense [Member] | |||
Total equity-based compensation expense | 5,141 | 3,839 | 2,860 |
Sales and Marketing [Member] | |||
Total equity-based compensation expense | 1,587 | 1,428 | 922 |
General and Administrative Expense [Member] | |||
Total equity-based compensation expense | $ 3,051 | $ 2,967 | $ 2,208 |
Note 1 - Organization and Sig_8
Note 1 - Organization and Significant Accounting Policies - Calculation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Numerator: | |||
Net income | $ 574 | $ 17,028 | $ 13,100 |
Denominator (in thousands): | |||
Basic weighted-average common stock outstanding (in shares) | 22,034 | 21,771 | 20,850 |
Effect of stock-based awards (in shares) | 469 | 790 | 715 |
Diluted weighted-average common stock outstanding (in shares) | 22,503 | 22,561 | 21,565 |
Basic net income per share (in dollars per share) | $ 0.03 | $ 0.78 | $ 0.63 |
Diluted net income per share (in dollars per share) | $ 0.03 | $ 0.75 | $ 0.61 |
Note 2 - Revenue Recognition (D
Note 2 - Revenue Recognition (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jan. 01, 2018 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 77,877 | $ 87,507 | $ 72,653 | |
Capitalized Contract Cost, Net, Total | 223 | |||
Contract with Customer, Liability, Revenue Recognized | 3,728 | |||
Accounting Standards Update 2014-09 [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 4,078 | |||
Unbilled Receivables, Current | 8,597 | |||
Capitalized Contract Cost, Net, Total | $ 239 | |||
Capitalized Contract Cost, Amortization | 120 | |||
Capitalized Contract Cost, Impairment Loss | $ 0 | |||
Accounting Standards Update 2014-09 [Member] | Retained Earnings [Member] | ||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 8,555 |
Note 2 - Revenue Recognition -
Note 2 - Revenue Recognition - Remaining Performance Obligation 2 (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | |
Revenue, Remaining Performance Obligation | $ 12,567 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Revenue, Remaining Performance Obligation | 3,948 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation | $ 1,500 |
Note 2 - Revenue Recognition _2
Note 2 - Revenue Recognition - Remaining Performance Obligation (Details) (Parentheticals) | Dec. 31, 2018 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Note 2 - Revenue Recognition _3
Note 2 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Revenues | $ 77,877 | $ 87,507 | $ 72,653 |
Transferred at Point in Time [Member] | |||
Revenues | 68,175 | ||
Transferred over Time [Member] | |||
Revenues | 9,702 | ||
DSP Products [Member] | |||
Revenues | 59,466 | ||
Connectivity Products [Member] | |||
Revenues | 18,411 | ||
License [Member] | |||
Revenues | 40,446 | 42,899 | 31,874 |
License [Member] | Transferred at Point in Time [Member] | |||
Revenues | 30,744 | ||
License [Member] | Transferred over Time [Member] | |||
Revenues | 9,702 | ||
License [Member] | DSP Products [Member] | |||
Revenues | 25,369 | ||
License [Member] | Connectivity Products [Member] | |||
Revenues | 15,077 | ||
Royalty [Member] | |||
Revenues | 37,431 | 44,608 | 40,779 |
Royalty [Member] | Transferred at Point in Time [Member] | |||
Revenues | 37,431 | ||
Royalty [Member] | Transferred over Time [Member] | |||
Revenues | |||
Royalty [Member] | DSP Products [Member] | |||
Revenues | 34,097 | ||
Royalty [Member] | Connectivity Products [Member] | |||
Revenues | 3,334 | ||
UNITED STATES | |||
Revenues | 8,354 | 7,188 | 9,134 |
UNITED STATES | License [Member] | |||
Revenues | 6,260 | ||
UNITED STATES | Royalty [Member] | |||
Revenues | 2,094 | ||
Europe and Middle East [Member] | |||
Revenues | 17,370 | 11,007 | 10,901 |
Europe and Middle East [Member] | License [Member] | |||
Revenues | 3,672 | ||
Europe and Middle East [Member] | Royalty [Member] | |||
Revenues | 13,698 | ||
Asia Pacific [Member] | |||
Revenues | 52,153 | $ 69,312 | $ 52,618 |
Asia Pacific [Member] | License [Member] | |||
Revenues | 30,514 | ||
Asia Pacific [Member] | Royalty [Member] | |||
Revenues | $ 21,639 |
Note 2 - Revenue Recognition _4
Note 2 - Revenue Recognition - Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Contract with customer liability, balance | $ 3,593 | $ 4,399 |
Trade Receivables [Member] | ||
Contract with customer asset, balance | 9,971 | |
Accrued Revenues [Member] | Licensing and Other [Member] | ||
Contract with customer asset, balance | 6,745 | |
Accrued Revenues [Member] | Royalty [Member] | ||
Contract with customer asset, balance | 9,440 | |
Deferred Revenue [Member] | ||
Contract with customer liability, balance | $ 3,593 |
Note 2 - Revenue Recognition _5
Note 2 - Revenue Recognition - Impact of Adoption of New Standard on Financial Statements (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Revenues: | |||
Revenues | $ 77,877,000 | $ 87,507,000 | $ 72,653,000 |
Cost of revenues | 7,951,000 | 6,953,000 | 6,086,000 |
Gross profit | 69,926,000 | 80,554,000 | 66,567,000 |
Operating expenses: | |||
Sales and marketing | 12,161,000 | 12,572,000 | 11,540,000 |
Other operating expenses | 59,010,000 | ||
Total operating expenses | 71,171,000 | 64,681,000 | 52,181,000 |
Operating loss | (1,245,000) | 15,873,000 | 14,386,000 |
Financial income, net (Note 12) | 3,418,000 | 3,026,000 | 2,039,000 |
Revaluation of investment in other company | (870,000) | 0 | 0 |
Income (loss) before taxes on income | 1,303,000 | 18,899,000 | 16,425,000 |
Income taxes | 729,000 | 1,871,000 | 3,325,000 |
Net income | $ 574,000 | $ 17,028,000 | $ 13,100,000 |
Basic net income per share (in dollars per share) | $ 0.03 | $ 0.78 | $ 0.63 |
Diluted net income per share (in dollars per share) | $ 0.03 | $ 0.75 | $ 0.61 |
Trade receivables | $ 26,156,000 | $ 16,494,000 | |
Prepaid expenses and other current assets | 5,264,000 | 3,747,000 | |
Retained earnings | 62,853,000 | 53,873,000 | |
Accounting Standards Update 2014-09 [Member] | |||
Revenues: | |||
Revenues | 4,078,000 | ||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||
Revenues: | |||
Revenues | 73,799,000 | ||
Cost of revenues | 7,951,000 | ||
Gross profit | 65,848,000 | ||
Operating expenses: | |||
Sales and marketing | 12,139,000 | ||
Other operating expenses | 59,010,000 | ||
Total operating expenses | 71,149,000 | ||
Operating loss | (5,301,000) | ||
Financial income, net (Note 12) | 3,418,000 | ||
Revaluation of investment in other company | (870,000) | ||
Income (loss) before taxes on income | (2,753,000) | ||
Income taxes | 356,000 | ||
Net income | $ (3,109,000) | ||
Basic net income per share (in dollars per share) | $ (0.14) | ||
Diluted net income per share (in dollars per share) | $ (0.14) | ||
Trade receivables | $ 12,875,000 | ||
Prepaid expenses and other current assets | 6,307,000 | ||
Retained earnings | 50,615,000 | ||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | |||
Revenues: | |||
Revenues | 4,078,000 | ||
Cost of revenues | |||
Gross profit | 4,078,000 | ||
Operating expenses: | |||
Sales and marketing | 22,000 | ||
Other operating expenses | |||
Total operating expenses | 22,000 | ||
Operating loss | 4,056,000 | ||
Financial income, net (Note 12) | |||
Revaluation of investment in other company | |||
Income (loss) before taxes on income | 4,056,000 | ||
Income taxes | 373,000 | ||
Net income | $ 3,683,000 | ||
Basic net income per share (in dollars per share) | $ 0.17 | ||
Diluted net income per share (in dollars per share) | $ 0.16 | ||
Trade receivables | $ 13,281,000 | ||
Prepaid expenses and other current assets | (1,043,000) | ||
Retained earnings | 12,238,000 | ||
License [Member] | |||
Revenues: | |||
Revenues | 40,446,000 | $ 42,899,000 | $ 31,874,000 |
License [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||
Revenues: | |||
Revenues | 35,873,000 | ||
License [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | |||
Revenues: | |||
Revenues | 4,573,000 | ||
Royalties [Member] | |||
Revenues: | |||
Revenues | 37,431,000 | ||
Royalties [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||
Revenues: | |||
Revenues | 37,926,000 | ||
Royalties [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 [Member] | |||
Revenues: | |||
Revenues | $ (495,000) |
Note 3 - Marketable Securitie_2
Note 3 - Marketable Securities - Available-for-sale Marketable Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Available-for-sale - matures within one year, Amortized cost | $ 6,094 | $ 11,803 |
Available-for-sale - matures within one year, Gross unrealized gains | 3 | |
Available-for-sale - matures within one year, Gross unrealized losses | (32) | (12) |
Available-for-sale - matures within one year, Fair value | 6,062 | 11,794 |
Available-for-sale - matures after one year through five years, Amortized cost | 72,598 | 71,539 |
Available-for-sale - matures after one year through five years, Gross unrealized gains | 134 | 14 |
Available-for-sale - matures after one year through five years, Gross unrealized losses | (1,325) | (683) |
Available-for-sale - matures after one year through five years, Fair value | 71,407 | 70,870 |
Available-for-sale, Amortized cost | 78,692 | 83,342 |
Available-for-sale, Gross unrealized gains | 134 | 17 |
Available-for-sale, Gross unrealized losses | (1,357) | (695) |
Marketable securities (Note 3) | 77,469 | 82,664 |
Certificates of Deposits [Member] | ||
Available-for-sale - matures after one year through five years, Amortized cost | 747 | 747 |
Available-for-sale - matures after one year through five years, Gross unrealized gains | ||
Available-for-sale - matures after one year through five years, Gross unrealized losses | ||
Available-for-sale - matures after one year through five years, Fair value | 747 | 747 |
Marketable securities (Note 3) | 747 | 747 |
Corporate Bonds [Member] | ||
Available-for-sale - matures within one year, Amortized cost | 6,094 | 11,803 |
Available-for-sale - matures within one year, Gross unrealized gains | 3 | |
Available-for-sale - matures within one year, Gross unrealized losses | (32) | (12) |
Available-for-sale - matures within one year, Fair value | 6,062 | 11,794 |
Available-for-sale - matures after one year through five years, Amortized cost | 71,350 | 70,291 |
Available-for-sale - matures after one year through five years, Gross unrealized gains | 134 | 14 |
Available-for-sale - matures after one year through five years, Gross unrealized losses | (1,320) | (677) |
Available-for-sale - matures after one year through five years, Fair value | 70,164 | 69,628 |
Government Bonds [Member] | ||
Available-for-sale - matures after one year through five years, Amortized cost | 501 | 501 |
Available-for-sale - matures after one year through five years, Gross unrealized gains | ||
Available-for-sale - matures after one year through five years, Gross unrealized losses | (5) | (6) |
Available-for-sale - matures after one year through five years, Fair value | $ 496 | $ 495 |
Note 3 - Marketable Securitie_3
Note 3 - Marketable Securities - Summary of Gross Unrealized Losses and Fair Values on Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Less than 12 months, Fair value | $ 16,580 | $ 49,921 |
Less than 12 months, Gross unrealized loss | (192) | (411) |
12 months or greater, Fair value | 52,590 | 22,960 |
12 months or greater, Gross unrealized loss | $ (1,165) | $ (284) |
Note 3 - Marketable Securitie_4
Note 3 - Marketable Securities - Summary of Gross Realized Gains and Losses from Sale of Available-for-Sale Marketable Securities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Gross realized gains from sale of available-for-sale marketable securities | $ 4 | $ 47 | $ 24 |
Gross realized losses from sale of available-for-sale marketable securities | $ (71) | $ (47) | $ (33) |
Note 4 - Fair Value Measureme_3
Note 4 - Fair Value Measurement - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | |
Marketable securities (Note 3) | $ 77,469 | $ 82,664 | |
Investment in other company | [1] | 936 | |
Foreign exchange contracts | 77 | ||
Fair Value, Inputs, Level 1 [Member] | |||
Investment in other company | [1] | ||
Foreign exchange contracts | |||
Fair Value, Inputs, Level 2 [Member] | |||
Investment in other company | [1] | ||
Foreign exchange contracts | 77 | ||
Fair Value, Inputs, Level 3 [Member] | |||
Investment in other company | [1] | 936 | |
Foreign exchange contracts | |||
Certificates of Deposits [Member] | |||
Marketable securities (Note 3) | 747 | 747 | |
Certificates of Deposits [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Marketable securities (Note 3) | |||
Certificates of Deposits [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Marketable securities (Note 3) | 747 | 747 | |
Certificates of Deposits [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Marketable securities (Note 3) | |||
Government Bonds [Member] | |||
Marketable securities (Note 3) | 496 | 495 | |
Government Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Marketable securities (Note 3) | |||
Government Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Marketable securities (Note 3) | 496 | 495 | |
Government Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Marketable securities (Note 3) | |||
Corporate Bonds [Member] | |||
Marketable securities (Note 3) | 76,226 | 81,422 | |
Corporate Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Marketable securities (Note 3) | |||
Corporate Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Marketable securities (Note 3) | 76,226 | 81,422 | |
Corporate Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Marketable securities (Note 3) | |||
[1] | Non-marketable equity securities remeasured during the year ended December 31, 2018. |
Note 5 - Property and Equipme_3
Note 5 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Depreciation, Total | $ 2,915 | $ 2,014 | $ 1,399 |
Note 5 - Property and Equipme_4
Note 5 - Property and Equipment, Net - Compositions of Assets, Grouped by Major Classification (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Property and equipment, gross | $ 20,143 | $ 17,123 |
Less – Accumulated depreciation | (12,799) | (10,197) |
Property and equipment, net | 7,344 | 6,926 |
Computers, Software and Equipment [Member] | ||
Property and equipment, gross | 16,431 | 13,570 |
Office Furniture and Equipment [Member] | ||
Property and equipment, gross | 832 | 797 |
Leasehold Improvements [Member] | ||
Property and equipment, gross | $ 2,880 | $ 2,756 |
Note 6 - Intangible Assets, N_3
Note 6 - Intangible Assets, Net (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Amortization of Intangible Assets, Including Portion in Cost of Revenues | $ 1,242 | $ 1,236 |
Note 6 - Intangible Assets, N_4
Note 6 - Intangible Assets, Net - Schedule of Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Total intangible assets, Gross Carrying Amount | $ 8,361 | $ 6,161 |
Total intangible assets, Accumulated Amortization | 5,661 | 4,419 |
Intangible assets, net (Note 6) | $ 2,700 | 1,742 |
Customer Relationships [Member] | ||
Total intangible assets, Weighted Average Amortization Period (Year) | 4 years 182 days | |
Total intangible assets, Gross Carrying Amount | $ 272 | 272 |
Total intangible assets, Accumulated Amortization | 272 | 211 |
Intangible assets, net (Note 6) | 61 | |
Customer Backlog [Member] | ||
Total intangible assets, Weighted Average Amortization Period (Year) | 1 year 182 days | |
Total intangible assets, Gross Carrying Amount | $ 93 | 93 |
Total intangible assets, Accumulated Amortization | 93 | 93 |
Intangible assets, net (Note 6) | ||
Core Technologies [Member] | ||
Total intangible assets, Weighted Average Amortization Period (Year) | 5 years 36 days | |
Total intangible assets, Gross Carrying Amount | $ 5,796 | 5,796 |
Total intangible assets, Accumulated Amortization | 4,955 | 4,115 |
Intangible assets, net (Note 6) | $ 841 | 1,681 |
NB-IoT technologies [Member] | ||
Total intangible assets, Weighted Average Amortization Period (Year) | 7 years | |
Total intangible assets, Gross Carrying Amount | $ 2,200 | |
Total intangible assets, Accumulated Amortization | 341 | |
Intangible assets, net (Note 6) | $ 1,859 |
Note 6 - Intangible Assets, N_5
Note 6 - Intangible Assets, Net - Future Amortization Expense (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
2,019 | $ 1,155 | |
2,020 | 314 | |
2,021 | 314 | |
2,022 | 314 | |
2,023 | 314 | |
2,024 | 289 | |
Total intangible assets | $ 2,700 | $ 1,742 |
Note 7 - Accrued Expenses and_3
Note 7 - Accrued Expenses and Other Payables - Accrued Expenses and Other Payables (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Engineering accruals | $ 884 | $ 977 |
Professional fees | 752 | 792 |
Government grants | 417 | 791 |
Income taxes payable, net | 141 | 45 |
Facility related accruals | 259 | 290 |
Intangible assets | 750 | |
Other | 1,141 | 1,032 |
Total | $ 4,344 | $ 3,927 |
Note 8 - Stockholders' Equity_2
Note 8 - Stockholders' Equity (Details Textual) $ / shares in Units, $ in Thousands | Jul. 07, 2014$ / sharesshares | Jul. 01, 2004shares | Jun. 30, 2004shares | Feb. 28, 2019USD ($) | Jul. 30, 2018shares | Dec. 31, 2018USD ($)$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016USD ($)$ / sharesshares | May 31, 2018shares | Oct. 31, 2014shares | Dec. 31, 2013shares | May 17, 2011shares | Aug. 31, 2008shares | Jul. 31, 2002shares | ||
Common Stock, Number of Votes Per Share | 1 | |||||||||||||||
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 | ||||||||||||||
Preferred Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 | $ 0.001 | ||||||||||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 1,000,000 | |||||||||||||||
Share Repurchase Program Additional Number of Shares Authorized To Be Repurchased | 4,000,000 | |||||||||||||||
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | 355,180 | |||||||||||||||
Treasury Stock, Shares, Acquired | 655,876 | 0 | 180,013 | |||||||||||||
Treasury Stock Acquired, Average Cost Per Share | $ / shares | $ 30.51 | $ 18.98 | ||||||||||||||
Treasury Stock Value Acquired Weighted Average Method | $ | $ 20,008 | $ 3,417 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Outstanding Number | [2] | 702,817 | [1] | 729,017 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Exercisable Number | [2],[3] | 623,718 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 12.90 | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Grants in Period | 0 | 0 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Exercises in Period, Intrinsic Value | $ | $ 384 | $ 15,188 | $ 12,282 | |||||||||||||
Non-employee Director [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Annual Vesting, Percentage | 25.00% | |||||||||||||||
The2011 Stock Incentive Plan [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights Vesting Percentage, Year One | 25.00% | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Remaining Vesting Period | 3 years | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 2,350,000 | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | Feb. 28, 2021 | |||||||||||||||
The 2003 Director Stock Option Plan [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,350,000 | |||||||||||||||
The 2003 Director Stock Option Plan [Member] | Non-employee Director [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total | 38,000 | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 180 days | |||||||||||||||
The 2003 Director Stock Option Plan [Member] | Board of Directors [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total | 13,000 | |||||||||||||||
The 2003 Director Stock Option Plan [Member] | Committee Chairperson [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total | 13,000 | |||||||||||||||
The 2003 Director Stock Option Plan [Member] | Board of Directors Chairman [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total | 15,000 | |||||||||||||||
The 2002 Employee Stock Purchase Plan [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 211,204 | 2,700,000 | ||||||||||||||
Period Employees Eligible To Participate in Employee Stock Purchase Plan | 150 days | |||||||||||||||
Maximum [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Outstanding Number | 642,300 | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Exercisable Number | 565,851 | |||||||||||||||
Maximum [Member] | The2011 Stock Incentive Plan [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||||||||||||||
Stock Appreciation Rights (SARs) [Member] | RivieraWaves [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Awards Granted | 400.00% | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Remaining Vesting Period | 3 years | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 113,000 | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Employees Granted Shares | 27 | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 15.17 | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 7 years | |||||||||||||||
Stock Appreciation Rights (SARs) [Member] | SARs Vesting After One Year [Member] | RivieraWaves [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | |||||||||||||||
Stock Appreciation Rights (SARs) [Member] | Maximum [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Awards Granted | 400.00% | |||||||||||||||
Percentage of Stock Appreciation Rights Units Subject to Grant | 75.00% | |||||||||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 328,896 | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 34.14 | |||||||||||||||
Restricted Stock Units (RSUs) [Member] | Non-employee Director [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | 1 year | ||||||||||||||
Restricted Stock Units (RSUs) [Member] | Employees [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||||||||||||
Restricted Stock Units (RSUs) [Member] | Employees [Member] | Share-based Compensation Award, Tranche One [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 0.33% | |||||||||||||||
Restricted Stock Units (RSUs) [Member] | Employees [Member] | Share-based Compensation Award, Tranche Three [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 0.33% | |||||||||||||||
Restricted Stock Units (RSUs) [Member] | Employees [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 0.33% | |||||||||||||||
Restricted Stock Units (RSUs) [Member] | The2011 Stock Incentive Plan [Member] | Board of Directors [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 28,896 | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, per Director | 38,000 | |||||||||||||||
Restricted Stock Units (RSUs) [Member] | The2011 Stock Incentive Plan [Member] | Board of Directors Chairman [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted, Annualized Value | $ | $ 268,520 | |||||||||||||||
Restricted Stock Units (RSUs) [Member] | The2011 Stock Incentive Plan [Member] | Directors with a Chairperson Position [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted, Annualized Value | $ | 249,340 | |||||||||||||||
Restricted Stock Units (RSUs) [Member] | The2011 Stock Incentive Plan [Member] | Other Board of Directors [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted, Annualized Value | $ | $ 124,670 | |||||||||||||||
Restricted Stock Units (RSUs) [Member] | The2011 Stock Incentive Plan [Member] | Director [Member] | Subsequent Event [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted, Annualized Value | $ | $ 124,670 | |||||||||||||||
Stock Options, Stock Appreciation Rights and Restricted Stock Units [Member] | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,037,600 | |||||||||||||||
Rule 10b-18, Authorization Two [Member] | ||||||||||||||||
Share Repurchase Program Additional Number of Shares Authorized To Be Repurchased | 700,000 | 1,000,000 | ||||||||||||||
[1] | Due to the ceiling imposed on the SAR grants, the outstanding amount equals a maximum of 642,300 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 565,851 shares of the Company's common stock issuable upon exercise. |
Note 8 - Stockholders' Equity -
Note 8 - Stockholders' Equity - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | |||
Outstanding, Number of shares (in shares) | [1] | 729,017 | ||
Outstanding, Weighted average exercise price (in dollars per share) | $ 19.88 | [2] | $ 19.77 | |
Outstanding, Weighted average remaining contractual term (Year) | 4 years 109 days | [2] | 5 years 73 days | |
Outstanding, Aggregate intrinsic value | $ 2,708 | [2] | $ 19,229 | |
Granted, Number of shares (in shares) | 0 | 0 | ||
Exercised, Number of shares (in shares) | [1] | (22,530) | ||
Exercised, Weighted average exercise price (in dollars per share) | $ 16.07 | |||
Forfeited or expired, Number of shares (in shares) | [1] | (3,670) | ||
Forfeited or expired, Weighted average exercise price (in dollars per share) | $ 22.67 | |||
Outstanding, Number of shares (in shares) | [1] | 702,817 | [2] | 729,017 |
Exercisable, Number of shares (in shares) | [1],[3] | 623,718 | ||
Exercisable, Weighted average exercise price (in dollars per share) | [3] | $ 19.14 | ||
Exercisable, Weighted average remaining contractual term (Year) | [3] | 4 years | ||
Exercisable, Aggregate intrinsic value | [3] | $ 2,648 | ||
[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 642,300 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 565,851 shares of the Company's common stock issuable upon exercise. |
Note 8 - Stockholders' Equity_3
Note 8 - Stockholders' Equity - Options Classified Into Range of Exercise Price (Details) - $ / shares | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | |||
Outstanding, number of options and SARs (in shares) | [2] | 702,817 | [1] | 729,017 |
Outstanding, Weighted average remaining contractual term (Year) | 4 years 109 days | [1] | 5 years 73 days | |
Outstanding, weighted average exercise price (in dollars per share) | $ 19.88 | |||
Exercisable, Number of shares (in shares) | [2],[3] | 623,718 | ||
Exercisable, weighted average remaining contractual life (Year) | 4 years | |||
Exercisable, Weighted average exercise price (in dollars per share) | [3] | $ 19.14 | ||
Exercise Price Range 1 [Member] | ||||
Range of exercise price, lower limit (in dollars per share) | 14.16 | |||
Range of exercise price, upper limit (in dollars per share) | $ 18.62 | |||
Outstanding, number of options and SARs (in shares) | 346,863 | |||
Outstanding, Weighted average remaining contractual term (Year) | 3 years 73 days | |||
Outstanding, weighted average exercise price (in dollars per share) | $ 15.68 | |||
Exercisable, Number of shares (in shares) | 344,527 | |||
Exercisable, weighted average remaining contractual life (Year) | 3 years 73 days | |||
Exercisable, Weighted average exercise price (in dollars per share) | $ 15.66 | |||
Exercise Price Range 2 [Member] | ||||
Range of exercise price, lower limit (in dollars per share) | 19.36 | |||
Range of exercise price, upper limit (in dollars per share) | $ 19.83 | |||
Outstanding, number of options and SARs (in shares) | 182,995 | |||
Outstanding, Weighted average remaining contractual term (Year) | 5 years | |||
Outstanding, weighted average exercise price (in dollars per share) | $ 19.44 | |||
Exercisable, Number of shares (in shares) | 163,050 | |||
Exercisable, weighted average remaining contractual life (Year) | 4 years 328 days | |||
Exercisable, Weighted average exercise price (in dollars per share) | $ 19.43 | |||
Exercise Price Range 3 [Member] | ||||
Range of exercise price, lower limit (in dollars per share) | 24.86 | |||
Range of exercise price, upper limit (in dollars per share) | $ 30.60 | |||
Outstanding, number of options and SARs (in shares) | 172,959 | |||
Outstanding, Weighted average remaining contractual term (Year) | 5 years 255 days | |||
Outstanding, weighted average exercise price (in dollars per share) | $ 28.75 | |||
Exercisable, Number of shares (in shares) | 116,141 | |||
Exercisable, weighted average remaining contractual life (Year) | 4 years 328 days | |||
Exercisable, Weighted average exercise price (in dollars per share) | $ 29.06 | |||
[1] | Due to the ceiling imposed on the SAR grants, the outstanding amount equals a maximum of 642,300 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 565,851 shares of the Company's common stock issuable upon exercise. |
Note 8 - Stockholders' Equity_4
Note 8 - Stockholders' Equity - Summary of Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) [Member] | 12 Months Ended |
Dec. 31, 2018$ / sharesshares | |
Unvested as at the beginning of the year (in shares) | shares | 560,616 |
Unvested as at the beginning of the year (in dollars per share) | $ / shares | $ 29.31 |
Granted, number (in shares) | shares | 328,896 |
Granted, weighted average fair value (in dollars per share) | $ / shares | $ 34.14 |
Vested, number (in shares) | shares | (280,890) |
Vested, weighted average fair value (in dollars per share) | $ / shares | $ 28.09 |
Forfeited, number (in shares) | shares | (44,232) |
Forfeited, weighted average fair value (in dollars per share) | $ / shares | $ 35.12 |
Unvested at the end of the year (in shares) | shares | 564,390 |
Unvested at the end of the year (in dollars per share) | $ / shares | $ 32.28 |
Note 9 - Derivatives and Hedg_3
Note 9 - Derivatives and Hedging Activities (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Derivative, Gain (Loss) on Derivative, Net, Total | $ (354) | $ 189 | $ 161 |
Note 9 - Derivatives and Hedg_4
Note 9 - Derivatives and Hedging Activities - Fair Value of Outstanding Derivative Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Foreign exchange contracts | $ 77 | |
Derivative Assets | 77 | |
Derivatives Designated as Cash Flow Hedging Instruments [Member] | Foreign Exchange Forward and Option Contracts [Member] | ||
Foreign exchange contracts | 14 | |
Derivative Assets | $ 63 |
Note 9 - Derivatives and Hedg_5
Note 9 - Derivatives and Hedging Activities - Effective Portion of the Gains and Losses on Derivative Instruments Designated (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Gain (loss) recognized in other comprehensive income (loss), Effective portion, Net, Total | $ (431) | $ 183 | $ 158 |
Derivatives Designated as Cash Flow Hedging Instruments [Member] | |||
Gain (loss) recognized in other comprehensive income (loss), Effective portion, Net, Total | (431) | 183 | 158 |
Derivatives Designated as Cash Flow Hedging Instruments [Member] | Foreign Exchange Option Contracts [Member] | |||
Gain (loss) recognized in other comprehensive income (loss), Effective portion, Net, Total | (146) | 90 | 67 |
Derivatives Designated as Cash Flow Hedging Instruments [Member] | Foreign Exchange Forward Contracts [Member] | |||
Gain (loss) recognized in other comprehensive income (loss), Effective portion, Net, Total | $ (285) | $ 93 | $ 91 |
Note 9 - Derivatives and Hedg_6
Note 9 - Derivatives and Hedging Activities - Net (Gains) Losses Reclassified from Accumulated Other Comprehensive Loss (Details) - Derivatives Designated as Cash Flow Hedging Instruments [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total | $ 354 | $ (189) | $ (161) |
Foreign Exchange Option Contracts [Member] | |||
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total | 132 | (90) | (67) |
Foreign Exchange Forward Contracts [Member] | |||
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total | $ 222 | $ (99) | $ (94) |
Note 10 - Accumulated Other C_3
Note 10 - Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Balances of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Balance | $ 244,670 | $ 211,551 |
Balance | 245,879 | 244,670 |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||
Balance | (586) | (502) |
Other comprehensive income (loss) before reclassifications | (521) | (83) |
Amounts reclassified from accumulated other comprehensive income (loss) | 61 | (1) |
Net current period other comprehensive income (loss) | (460) | (84) |
Balance | (1,046) | (586) |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||
Balance | 5 | |
Other comprehensive income (loss) before reclassifications | (380) | 163 |
Amounts reclassified from accumulated other comprehensive income (loss) | 312 | (168) |
Net current period other comprehensive income (loss) | (68) | (5) |
Balance | (68) | |
AOCI Attributable to Parent [Member] | ||
Balance | (586) | (497) |
Other comprehensive income (loss) before reclassifications | (901) | 80 |
Amounts reclassified from accumulated other comprehensive income (loss) | 373 | (169) |
Net current period other comprehensive income (loss) | (528) | (89) |
Balance | $ (1,114) | $ (586) |
Note 10 - Accumulated Other C_4
Note 10 - Accumulated Other Comprehensive Income (loss) - Reclassifications Out of Accumulated Other Comprehensive Income (loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Cost of revenues | $ (7,951) | $ (6,953) | $ (6,086) |
Research and development | (47,755) | (40,385) | (30,838) |
Sales and marketing | 12,161 | 12,572 | 11,540 |
General and administrative | 10,354 | 10,488 | 8,567 |
Income (loss) before taxes on income | 1,303 | 18,899 | 16,425 |
Income taxes (Note 13) | 729 | 1,871 | 3,325 |
Net income | 574 | 17,028 | 13,100 |
Financial income, net (Note 12) | 3,418 | 3,026 | 2,039 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||
Net income | (373) | 169 | 135 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Gains (Losses) on Cash Flow Hedges [Member] | |||
Cost of revenues | (7) | 4 | 4 |
Research and development | (308) | 162 | 132 |
Sales and marketing | (13) | 10 | 12 |
General and administrative | (26) | 13 | 13 |
Income (loss) before taxes on income | (354) | 189 | 161 |
Income taxes (Note 13) | (42) | 21 | 18 |
Net income | (312) | 168 | 143 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Gains (Losses) on Available-for-sale Marketable Securities [Member] | |||
Income taxes (Note 13) | (6) | (1) | (1) |
Net income | (61) | 1 | (8) |
Financial income, net (Note 12) | $ (67) | $ (9) |
Note 11 - Geographic Informat_3
Note 11 - Geographic Information and Major Customer and Product Data (Details Textual) | 12 Months Ended |
Dec. 31, 2018 | |
Number of Reportable Segments | 1 |
Note 11 - Geographic Informat_4
Note 11 - Geographic Information and Major Customer and Product Data - Revenues Based on Customer Location (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Revenues | $ 77,877 | $ 87,507 | $ 72,653 |
UNITED STATES | |||
Revenues | 8,354 | 7,188 | 9,134 |
Europe and Middle East [Member] | |||
Revenues | 17,370 | 11,007 | 10,901 |
Asia Pacific [Member] | |||
Revenues | 52,153 | 69,312 | 52,618 |
CHINA | |||
Revenues | 33,672 | 41,059 | 30,030 |
KOREA, REPUBLIC OF | |||
Revenues | 7,989 | $ 17,842 | $ 15,512 |
GERMANY | |||
Revenues | $ 13,873 |
Note 11 - Geographic Informat_5
Note 11 - Geographic Information and Major Customer and Product Data - Long-lived Assets by Geographic Region (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Long-lived assets | $ 7,344 | $ 6,926 |
ISRAEL | ||
Long-lived assets | 6,599 | 6,196 |
FRANCE | ||
Long-lived assets | 451 | 383 |
UNITED STATES | ||
Long-lived assets | 156 | 185 |
Other Geographic Regions [Member] | ||
Long-lived assets | $ 138 | $ 162 |
Note 11 - Geographic Informat_6
Note 11 - Geographic Information and Major Customer and Product Data - Major Customers Data as Percentage of Total Revenues (Details) - Revenue from Contract with Customer [Member] - Customer Concentration Risk [Member] | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Customer A [Member] | |||
Percentage of total revenues | 15.00% | 23.00% | 27.00% |
Customer B [Member] | |||
Percentage of total revenues | 17.00% | 19.00% | |
Customer C [Member] | |||
Percentage of total revenues | 19.00% |
Note 11 - Geographic Informat_7
Note 11 - Geographic Information and Major Customer and Product Data - Information About Products and Services (Details) - Sales Revenue, Net [Member] - Product Concentration Risk [Member] | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
DSP Products [Member] | |||
Percentage of total revenues | 76.00% | 86.00% | 84.00% |
Connectivity Products [Member] | |||
Percentage of total revenues | 24.00% | 14.00% | 16.00% |
Note 12 - Selected Statements_3
Note 12 - Selected Statements of Income Data (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Other than Temporary Impairment Losses, Investments, Total | $ 870,000 | $ 0 | $ 0 |
Note 12 - Selected Statements_4
Note 12 - Selected Statements of Income Data - Financial Income, Net (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Interest income | $ 4,499 | $ 4,233 | $ 3,300 |
Loss on available-for-sale marketable securities, net | (67) | (9) | |
Amortization of premium on available-for-sale marketable securities, net | (773) | (1,179) | (1,064) |
Foreign exchange loss, net | (241) | (28) | (188) |
Total | $ 3,418 | $ 3,026 | $ 2,039 |
Note 12 - Selected Statements_5
Note 12 - Selected Statements of Income Data - Revaluation of Investment In Other Company (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Investment in other company, carrying value | $ 936 | $ 1,806 |
Downward adjustments | $ (870) |
Note 13 - Taxes on Income (Deta
Note 13 - Taxes on Income (Details Textual) $ in Thousands, ₪ in Billions | 12 Months Ended | |||
Dec. 31, 2018USD ($) | Dec. 31, 2018ILS (₪) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Tax Cuts and Jobs Act of 2017, Transition Tax, Income Tax Expense (Benefit) | $ 16,053 | |||
Unrecognized Tax Benefits, Ending Balance | $ 2,739 | 2,224 | $ 3,784 | |
Unrecognized Tax Benefits, Income Tax Penalties Accrued | 0 | 0 | ||
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions | 60 | |||
Unrecognized Tax Benefits, Decreases Resulting from Tax Audit Completion | 3,003 | |||
Maximum [Member] | Technological Preferred Enterprise [Member] | ||||
Taxable Income Subject to Lower Tax Rate | ₪ | ₪ 10 | |||
Foreign Tax Authority [Member] | ||||
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions | 1,805 | |||
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | $ 130 | |||
Foreign Tax Authority [Member] | Revenue Commissioners, Ireland [Member] | ||||
Effective Income Tax Rate Reconciliation, Percent, Total | 12.50% | 12.50% | ||
Open Tax Year | 2013 2014 2015 2016 2017 2018 | 2013 2014 2015 2016 2017 2018 | ||
Operating Loss Carryforwards, Total | $ 60,252 | |||
Foreign Tax Authority [Member] | Revenue Commissioners, Ireland [Member] | Interest Income [Member] | ||||
Effective Income Tax Rate Reconciliation, Percent, Total | 25.00% | 25.00% | ||
Foreign Tax Authority [Member] | Israel Tax Authority [Member] | ||||
Open Tax Year | 2014 2015 2016 2017 2018 | 2014 2015 2016 2017 2018 | ||
Income Tax Rate, Foreign Ownership Exceeds 90% | 10.00% | 10.00% | ||
Income Tax Rate, Foreign Ownership Exceeds 49% | 20.00% | 20.00% | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 23.00% | 23.00% | 24.00% | 25.00% |
Foreign Tax Authority [Member] | Israel Tax Authority [Member] | Dividends Paid to Foreign Companies [Member] | ||||
Effective Income Tax Rate Reconciliation, Percent, Total | 4.00% | 4.00% | ||
Foreign Tax Authority [Member] | Israel Tax Authority [Member] | Intellectual Property [Member] | ||||
Effective Income Tax Rate Reconciliation, Percent, Total | 12.00% | 12.00% | ||
Foreign Tax Authority [Member] | Israel Tax Authority [Member] | Intellectual Property [Member] | Development Area A [Member] | ||||
Effective Income Tax Rate Reconciliation, Percent, Total | 7.50% | 7.50% | ||
Foreign Tax Authority [Member] | Israel Tax Authority [Member] | Minimum [Member] | ||||
Tax Exemption Period | 2 years | 2 years | ||
Foreign Tax Authority [Member] | Israel Tax Authority [Member] | Maximum [Member] | ||||
Effective Income Tax Rate Reconciliation, Percent, Total | 23.00% | 23.00% | ||
Tax Exemption Period | 10 years | 10 years | ||
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | ||||
Open Tax Year | 2017 2018 | 2017 2018 | ||
Effective Income Tax Rate Reconciliation, Taxable Profit Up to 500,000 Euros, Percent | 28.00% | 28.00% | ||
Effective Income Tax Rate Reconciliation, Taxable Profit Above 500,000 Euros, Percent | 33.33% | 33.33% | ||
Operating Loss Carryforwards, Total | $ 4,602 | |||
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | Tax Year 2019 [Member] | ||||
Effective Income Tax Rate Reconciliation, Taxable Profit Up to 500,000 Euros, Percent | 28.00% | 28.00% | ||
Effective Income Tax Rate Reconciliation, Taxable Profit Above 500,000 Euros, Percent | 31.00% | 31.00% | ||
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | Tax Year 2020 [Member] | ||||
Effective Income Tax Rate Reconciliation, Percent, Total | 28.00% | 28.00% | ||
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | Tax Year 2021 [Member] | ||||
Effective Income Tax Rate Reconciliation, Percent, Total | 26.50% | 26.50% | ||
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | Tax Year 2022 [Member] | ||||
Effective Income Tax Rate Reconciliation, Percent, Total | 25.00% | 25.00% | ||
State and Local Jurisdiction [Member] | California Franchise Tax Board [Member] | ||||
Operating Loss Carryforwards, Total | $ 8,249 | |||
Net Operating Loss Carryforwards Begins to Expire | 2,030 | 2,030 |
Note 13 - Taxes On Income - Com
Note 13 - Taxes On Income - Composition of Taxes On Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Current | $ 3 | $ (227) | $ 6 |
Deferred | |||
Current | 2,913 | 3,473 | 3,932 |
Deferred | (2,187) | (1,375) | (613) |
Taxes on income | 729 | 1,871 | 3,325 |
Domestic | (5,680) | (5,946) | (3,488) |
Foreign | 6,983 | 24,845 | 19,913 |
$ 1,303 | $ 18,899 | $ 16,425 |
Note 13 - Taxes on Income - Rec
Note 13 - Taxes on Income - Reconciliation Between the Company's Effective Tax Rate and the U.S. Statutory Rate (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income before taxes on income | $ 1,303 | $ 18,899 | $ 16,425 |
Theoretical tax at U.S. statutory rate | 274 | 6,426 | 5,585 |
Foreign income taxes at rates other than U.S. rate | 369 | (2,304) | (1,831) |
Approved and benefited enterprises benefits | (239) | (2,698) | (2,767) |
Subpart F | 563 | 737 | 538 |
Non-deductible items | 217 | 294 | 682 |
Non-taxable items | (434) | (529) | (505) |
Changes in uncertain tax position | 16 | (1,757) | 505 |
Stock-based compensation expense | (62) | (1,503) | |
Deemed mandatory repatriation | 3,542 | 1,916 | |
Impacts of GILTI | 880 | ||
Changes in valuation allowance | (5,005) | 2,076 | 1,212 |
Other, net | 608 | (787) | (94) |
Taxes on income | $ 729 | $ 1,871 | $ 3,325 |
(*)Basic and diluted earnings per share amounts of the benefit resulting from the “Approved Enterprise” and “Benefited Enterprise” status (in dollars per share) | $ 0.01 | $ 0.12 | $ 0.13 |
Note 13 - Taxes on Income - Sig
Note 13 - Taxes on Income - Significant Components of the Company's Deferred Tax Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | |
Deferred tax assets | |||
Operating loss carryforward | $ 9,505 | $ 13,069 | |
Accrued expenses and deferred revenues | 1,274 | 1,057 | |
Temporary differences related to R&D expenses | 3,194 | 2,118 | |
Equity-based compensation | 2,724 | 1,956 | |
Tax credit carry forward | 1,381 | 1,866 | |
Other | 705 | 476 | |
Total gross deferred tax assets | 18,783 | 20,542 | |
Valuation allowance | (12,745) | (16,590) | |
Net deferred tax assets | 6,038 | 3,952 | |
Deferred tax liabilities | |||
Intangible assets | 114 | 275 | |
Other | 34 | ||
Total deferred tax liabilities | 114 | 309 | |
Net deferred tax assets (*) | [1] | $ 5,924 | $ 3,643 |
[1] | Net deferred taxes for the years ended December 31, 2017 and 2018 are all from foreign jurisdictions. |
Note 13 - Taxes on Income - Unc
Note 13 - Taxes on Income - Uncertain Tax Positions (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Beginning of year | $ 2,224 | $ 3,784 |
Additions for current year tax positions | 575 | 1,188 |
Additions for prior year’s tax positions | 255 | |
Reductions for prior year’s tax positions | (60) | |
Decrease as a result of the completion of a tax audit for prior years | (3,003) | |
Ending balance | $ 2,739 | $ 2,224 |
Note 14 - Commitments and Con_3
Note 14 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating Leases, Rent Expense, Net, Total | $ 1,481 | $ 1,417 | $ 1,259 |
IIA [Member] | |||
Royalty Payment Percentage, as Percentage of Grant Received | 100.00% | ||
Accrued Royalties, Current | $ 23,288 | ||
IIA [Member] | Cost of Revenues [Member] | |||
Royalty Expense | $ 842 | $ 1,016 | $ 539 |
Minimum [Member] | |||
Percentage of Royalty Expense | 3.00% | ||
Minimum [Member] | IIA [Member] | |||
Percentage of Royalty Expense | 3.00% | ||
Maximum [Member] | |||
Percentage of Royalty Expense | 3.50% | ||
Maximum [Member] | IIA [Member] | |||
Percentage of Royalty Expense | 3.50% |
Note 14 - Commitments and Con_4
Note 14 - Commitments and Contingencies - Future Purchase Obligations and Minimum Rental Commitments for Leasehold Properties and Operating Leases With Non-cancelable Terms (Details) $ in Thousands | Dec. 31, 2018USD ($) |
2,019 | $ 3,779 |
2,020 | 1,624 |
2,021 | 234 |
2,022 | 33 |
Total | 5,670 |
Minimum Rental Commitments for Leasehold Properties [Member] | |
2,019 | 1,431 |
2,020 | 1,624 |
2,021 | 234 |
2,022 | 33 |
Total | 3,322 |
Commitments for Other Lease Obligations [Member] | |
2,019 | 1,764 |
2,020 | |
2,021 | |
2,022 | |
Total | 1,764 |
Other Purchase Obligations [Member] | |
2,019 | 584 |
2,020 | |
2,021 | |
2,022 | |
Total | $ 584 |
Schedule II - Valuation and Q_3
Schedule II - Valuation and Qualifying Accounts - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Balance | $ 25 | ||
Additions | |||
Deduction | 25 | ||
Balance |