Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2020 | Nov. 02, 2020 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001173489 | |
Entity Registrant Name | CEVA INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2020 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 000-49842 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 77-0556376 | |
Entity Address, Address Line One | 15245 Shady Grove Road, Suite 400 | |
Entity Address, City or Town | Rockville | |
Entity Address, State or Province | MD | |
Entity Address, Postal Zip Code | 20850 | |
City Area Code | 240 | |
Local Phone Number | 308-8328 | |
Title of 12(b) Security | Common Stock, $.001 per share | |
Trading Symbol | CEVA | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 22,250,217 |
Interim Condensed Consolidated
Interim Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 22,067 | $ 22,803 |
Short-term bank deposits | 41,158 | 56,915 |
Marketable securities | 78,506 | 64,867 |
Trade receivables (net of allowance for credit losses of $1,775 at September 30, 2020 and $327 at December 31, 2019) | 28,979 | 28,307 |
Prepaid expenses and other current assets | 6,888 | 5,660 |
Total current assets | 177,598 | 178,552 |
Long-term assets: | ||
Bank deposits | 11,376 | 5,368 |
Severance pay fund | 9,624 | 9,881 |
Deferred tax assets, net | 12,317 | 10,605 |
Property and equipment, net | 8,084 | 7,879 |
Operating lease right-of-use assets | 10,824 | 11,066 |
Goodwill | 51,070 | 51,070 |
Intangible assets, net | 11,481 | 13,424 |
Investments in non-marketable equity securities | 936 | 936 |
Other long-term assets | 8,254 | 8,240 |
Total long-term assets | 123,966 | 118,469 |
Total assets | 301,564 | 297,021 |
Current liabilities: | ||
Trade payables | 862 | 701 |
Deferred revenues | 2,777 | 3,642 |
Accrued expenses and other payables | 3,756 | 3,748 |
Accrued payroll and related benefits | 15,991 | 15,894 |
Operating lease liabilities | 2,505 | 2,393 |
Total current liabilities | 25,891 | 26,378 |
Long-term liabilities: | ||
Accrued severance pay | 10,328 | 10,551 |
Operating lease liabilities | 7,960 | 8,273 |
Other accrued liabilities | 814 | 662 |
Total long-term liabilities | 19,102 | 19,486 |
Stockholders’ equity: | ||
Preferred Stock: $0.001 par value: 5,000,000 shares authorized; none issued and outstanding | 0 | 0 |
Common Stock: $0.001 par value: 45,000,000 shares authorized; 23,595,160 shares issued at September 30, 2020 (unaudited) and December 31, 2019. 22,233,443 and 21,839,369 shares outstanding at September 30, 2020 (unaudited) and December 31, 2019, respectively | 22 | 22 |
Additional paid in-capital | 230,032 | 228,005 |
Treasury stock at cost (1,361,717 and 1,755,791 shares of common stock at September 30, 2020 (unaudited) and December 31, 2019, respectively) | (30,754) | (39,390) |
Accumulated other comprehensive income | 361 | 94 |
Retained earnings | 56,910 | 62,426 |
Total stockholders’ equity | 256,571 | 251,157 |
Total liabilities and stockholders’ equity | $ 301,564 | $ 297,021 |
Interim Condensed Consolidate_2
Interim Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Allowance for doubtful accounts | $ 1,775 | $ 327 |
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) | 45,000,000 | 45,000,000 |
Common stock, shares issued (in shares) | 23,595,160 | 23,595,160 |
Common stock, shares outstanding (in shares) | 22,233,443 | 21,839,369 |
Treasury stock, shares (in shares) | 1,361,717 | 1,755,791 |
Interim Condensed Consolidate_3
Interim Condensed Consolidated Statements of Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Revenues: | ||||
Revenues | $ 24,960 | $ 23,471 | $ 72,181 | $ 58,840 |
Cost of revenues | 2,503 | 2,767 | 8,259 | 7,283 |
Gross profit | 22,457 | 20,704 | 63,922 | 51,557 |
Operating expenses: | ||||
Research and development, net | 15,603 | 13,873 | 45,695 | 38,593 |
Sales and marketing | 2,711 | 2,832 | 8,772 | 8,809 |
General and administrative | 3,566 | 3,509 | 10,893 | 8,360 |
Amortization of intangible assets | 575 | 757 | 1,732 | 1,177 |
Total operating expenses | 22,455 | 20,971 | 67,092 | 56,939 |
Operating income (loss) | 2 | (267) | (3,170) | (5,382) |
Financial income, net | 1,020 | 603 | 2,689 | 2,299 |
Income (loss) before taxes on income | 1,022 | 336 | (481) | (3,083) |
Income tax expense (benefit) | 1,761 | (439) | 2,533 | (49) |
Net income (loss) | $ (739) | $ 775 | $ (3,014) | $ (3,034) |
Basic net income (loss) per share (in dollars per share) | $ (0.03) | $ 0.04 | $ (0.14) | $ (0.14) |
Diluted net income (loss) per share (in dollars per share) | $ (0.03) | $ 0.03 | $ (0.14) | $ (0.14) |
Weighted-average shares used to compute net income (loss) per share (in thousands): | ||||
Basic (in shares) | 22,163 | 21,953 | 22,059 | 21,936 |
Diluted (in shares) | 22,163 | 22,404 | 22,059 | 21,936 |
License [Member] | ||||
Revenues: | ||||
Revenues | $ 12,420 | $ 11,269 | $ 40,445 | $ 33,084 |
Royalty [Member] | ||||
Revenues: | ||||
Revenues | $ 12,540 | $ 12,202 | $ 31,736 | $ 25,756 |
Interim Condensed Consolidate_4
Interim Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net income (loss): | $ (739) | $ 775 | $ (3,014) | $ (3,034) |
Other comprehensive income (loss) before tax: | ||||
Changes in unrealized gains (losses) | 165 | (93) | 349 | 1,131 |
Reclassification adjustments for losses included in net income (loss) | 0 | 3 | 15 | 38 |
Net change | 165 | (90) | 364 | 1,169 |
Cash flow hedges: | ||||
Changes in unrealized gains | 127 | 83 | 484 | 401 |
Reclassification adjustments for gains included in net income (loss) | (352) | (117) | (514) | (304) |
Net change | (225) | (34) | (30) | 97 |
Other comprehensive income (loss) before tax | (60) | (124) | 334 | 1,266 |
Income tax expense (benefit) related to components of other comprehensive income (loss) | 12 | (38) | 67 | 174 |
Other comprehensive income (loss), net of taxes | (72) | (86) | 267 | 1,092 |
Comprehensive income (loss) | $ (811) | $ 689 | $ (2,747) | $ (1,942) |
Interim Condensed Consolidate_5
Interim Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - 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, 2018 | 21,787,860 | |||||
Balance at Dec. 31, 2018 | $ 22 | $ 223,250 | $ (39,132) | $ (1,114) | $ 62,853 | $ 245,879 |
Net loss | 0 | 0 | 0 | 0 | (3,034) | (3,034) |
Other comprehensive income (loss) | 0 | 0 | 0 | 1,092 | 0 | 1,092 |
Equity-based compensation | $ 0 | 7,847 | 0 | 0 | 0 | $ 7,847 |
Purchase of treasury stock (in shares) | (194,316) | (194,316) | ||||
Purchase of treasury stock | $ 0 | 0 | (4,861) | 0 | 0 | $ (4,861) |
Issuance of treasury stock upon exercise of stock-based awards (in shares) | 390,634 | |||||
Issuance of treasury stock upon exercise of stock-based awards | (5,614) | 8,501 | 0 | (450) | 2,437 | |
Balance (in shares) at Sep. 30, 2019 | 21,984,178 | |||||
Balance at Sep. 30, 2019 | $ 22 | 225,483 | (35,492) | (22) | 59,369 | 249,360 |
Balance (in shares) at Jun. 30, 2019 | 21,893,128 | |||||
Balance at Jun. 30, 2019 | $ 22 | 223,306 | (37,498) | 64 | 58,751 | 244,645 |
Net loss | 0 | 0 | 0 | 0 | 775 | 775 |
Other comprehensive income (loss) | 0 | 0 | 0 | (86) | 0 | (86) |
Equity-based compensation | $ 0 | 2,752 | 0 | 0 | 0 | $ 2,752 |
Purchase of treasury stock (in shares) | 0 | |||||
Issuance of treasury stock upon exercise of stock-based awards (in shares) | 91,050 | |||||
Issuance of treasury stock upon exercise of stock-based awards | (575) | 2,006 | 0 | (157) | $ 1,274 | |
Balance (in shares) at Sep. 30, 2019 | 21,984,178 | |||||
Balance at Sep. 30, 2019 | $ 22 | 225,483 | (35,492) | (22) | 59,369 | 249,360 |
Balance (in shares) at Dec. 31, 2019 | 21,839,369 | |||||
Balance at Dec. 31, 2019 | $ 22 | 228,005 | (39,390) | 94 | 62,426 | 251,157 |
Net loss | 0 | 0 | 0 | 0 | (3,014) | (3,014) |
Other comprehensive income (loss) | 0 | 0 | 0 | 267 | 0 | 267 |
Equity-based compensation | $ 0 | 10,070 | 0 | 0 | 0 | $ 10,070 |
Purchase of treasury stock (in shares) | (202,392) | (202,392) | ||||
Purchase of treasury stock | $ 0 | 0 | (4,780) | 0 | 0 | $ (4,780) |
Issuance of treasury stock upon exercise of stock-based awards (in shares) | 596,466 | |||||
Issuance of treasury stock upon exercise of stock-based awards | (8,043) | 13,416 | 0 | (2,502) | 2,871 | |
Balance (in shares) at Sep. 30, 2020 | 22,233,443 | |||||
Balance at Sep. 30, 2020 | $ 22 | 230,032 | (30,754) | 361 | 56,910 | 256,571 |
Balance (in shares) at Jun. 30, 2020 | 22,036,712 | |||||
Balance at Jun. 30, 2020 | $ 22 | 228,494 | (35,197) | 433 | 58,629 | 252,381 |
Net loss | 0 | 0 | 0 | 0 | (739) | (739) |
Other comprehensive income (loss) | 0 | 0 | 0 | (72) | 0 | (72) |
Equity-based compensation | $ 0 | 3,546 | 0 | 0 | 0 | $ 3,546 |
Purchase of treasury stock (in shares) | 0 | |||||
Issuance of treasury stock upon exercise of stock-based awards (in shares) | 196,731 | |||||
Issuance of treasury stock upon exercise of stock-based awards | (2,008) | 4,443 | 0 | (980) | $ 1,455 | |
Balance (in shares) at Sep. 30, 2020 | 22,233,443 | |||||
Balance at Sep. 30, 2020 | $ 22 | $ 230,032 | $ (30,754) | $ 361 | $ 56,910 | $ 256,571 |
Interim Condensed Consolidate_6
Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Cash flows from operating activities: | ||
Net loss | $ (3,014) | $ (3,034) |
Adjustments required to reconcile net loss to net cash provided by operating activities: | ||
Depreciation | 2,398 | 2,274 |
Amortization of intangible assets | 1,943 | 1,412 |
Equity-based compensation | 10,070 | 7,847 |
Realized loss, net on sale of available-for-sale marketable securities | 15 | 38 |
Amortization of premiums on available-for-sale marketable securities | 309 | 427 |
Unrealized foreign exchange (gain) loss | (532) | 461 |
Changes in operating assets and liabilities: | ||
Trade receivables | (672) | (657) |
Prepaid expenses and other assets | (947) | (1,458) |
Operating lease right-of-use assets | 242 | (903) |
Accrued interest on bank deposits | 758 | (945) |
Deferred tax, net | (1,779) | (3,856) |
Trade payables | 100 | 689 |
Deferred revenues | (865) | 1,209 |
Accrued expenses and other payables | (43) | (257) |
Accrued payroll and related benefits | 287 | 251 |
Operating lease liability | (202) | 823 |
Income taxes payable | 247 | (63) |
Accrued severance pay, net | 25 | 60 |
Net cash provided by operating activities | 8,340 | 4,318 |
Cash flows from investing activities: | ||
Acquisition of business | (204) | (11,000) |
Purchase of property and equipment | (2,541) | (2,664) |
Purchase of intangible assets | 0 | (10,140) |
Investment in bank deposits | (20,393) | (13,346) |
Proceeds from bank deposits | 29,393 | 20,165 |
Investment in available-for-sale marketable securities | (41,887) | (18,738) |
Proceeds from maturity of available-for-sale marketable securities | 17,192 | 3,888 |
Proceeds from sale of available-for-sale marketable securities | 11,096 | 22,561 |
Net cash used in investing activities | (7,344) | (9,274) |
Cash flows from financing activities: | ||
Purchase of treasury stock | (4,780) | (4,861) |
Proceeds from exercise of stock-based awards | 2,871 | 2,437 |
Net cash used in financing activities | (1,909) | (2,424) |
Effect of exchange rate changes on cash and cash equivalents | 177 | (29) |
Decrease in cash and cash equivalents | (736) | (7,409) |
Cash and cash equivalents at the beginning of the period | 22,803 | 22,260 |
Cash and cash equivalents at the end of the period | 22,067 | 14,851 |
Supplemental information of cash-flow activities: | ||
Income and withholding taxes | 4,048 | 3,845 |
Non-cash transactions: | ||
Property and equipment purchases incurred but unpaid at period end | 62 | 0 |
Right-of-use assets obtained in the exchange for operating lease liabilities | $ 1,253 | $ 1,881 |
Note 1 - Business
Note 1 - Business | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | NOTE 1: BUSINESS The financial information in this quarterly report includes the results of CEVA, Inc. and its subsidiaries (the “Company” or “CEVA”). CEVA licenses a family of signal processing IPs in two 5G 4/5/6 802.11n/ac/ax 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. Subsequent to CEVA’s acquisition of the business of Hillcrest Laboratories, Inc. (“Hillcrest Labs”) located in Rockville, Maryland, CEVA has extended such business into industrial, robotics and automotive spaces, and is developing new products that combine Hillcrest Labs’ sensor processing with CEVA’s other sensing and connectivity technologies to offer complete contextual computing solutions. Hillcrest Labs’ core technologies and research and development team play a pivotal role in these initiatives and CEVA’s future technological developments. As a result, CEVA has determined to make its Maryland office the U.S. headquarters, effective immediately. |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation and Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | NOTE 2: BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The interim condensed consolidated financial statements have been prepared according to U.S Generally Accepted Accounting Principles (“U.S. GAAP”). The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the three nine September 30, 2020 not may December 31, 2020. 10K December 31, 2019. The significant accounting policies applied in the annual consolidated financial statements of the Company as of December 31, 2019, 10K February 28, 2020, Recently Adopted Accounting Pronouncements On January 1, 2020, No. 2016 13, 2016 13” 2016 13 not Trade Receivable and Allowances Trade receivables are recorded and carried at the original invoiced amount less an allowance for any potential uncollectible amounts. The Company makes estimates of expected credit losses for the allowance for doubtful accounts and allowance for unbilled receivables based upon its assessment of various factors, including historical experience, the age of the trade receivable balances, credit quality of its customers, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may Marketable S ecurities The Company holds investments in marketable securities, consisting principally of corporate bonds. The Company classifies marketable securities as available-for-sale in its current assets because they represent investments of cash available for current operations. The Company’s available-for-sale investments are carried at estimated fair value with any unrealized gains and losses, net of taxes, included in accumulated other comprehensive income (loss) in stockholders' equity. Available-for-sale debt securities with an amortized cost basis in excess of estimated fair value are assessed to determine what amount of that difference, if any, is caused by expected credit losses. Expected credit losses on available-for-sale debt securities are recognized in interest and other income (expense), net, on the Company’s condensed consolidated statements of income (loss), and any remaining unrealized losses, net of taxes, are included in accumulated other comprehensive income (loss) in stockholders' equity. The amount of credit losses recorded for the three nine September 30, 2020 not not Use of E stimates The preparation of the interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company’s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the interim condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. |
Note 3 - Revenue Recognition
Note 3 - Revenue Recognition | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 3: revenue recognition Under ASC 606, 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 Remainder of 2020 2021 2022 License and related revenues $ 5,208 $ 4,040 $ 368 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): Nine months ended September 3 0 , 20 20 (unaudited) Three months ended September 3 0 , 2020 (unaudited) Licensing and related revenues Royalties Total Licensing and related revenues Royalties Total Primary geographical markets United States $ 5,784 $ 7,970 $ 13,754 $ 1,035 $ 2,044 $ 3,079 Europe and Middle East 4,980 5,037 10,017 347 478 825 Asia Pacific 29,681 18,729 48,410 11,038 10,018 21,056 Total $ 40,445 $ 31,736 $ 72,181 $ 12,420 $ 12,540 $ 24,960 Major product/service lines Connectivity products (baseband for handset and other devices, Bluetooth, Wi-Fi, NB-IoT and SATA/SAS) $ 31,679 $ 25,037 $ 56,716 $ 8,821 $ 9,752 $ 18,573 Smart sensing products (AI, sensor fusion, audio/sound and imaging and vision) 8,766 6,699 15,465 3,599 2,788 6,387 Total $ 40,445 $ 31,736 $ 72,181 $ 12,420 $ 12,540 $ 24,960 Timing of revenue recognition Products transferred at a point in time $ 30,405 $ 31,736 $ 62,141 $ 9,099 $ 12,540 $ 21,639 Products and services transferred over time 10,040 — 10,040 3,321 — 3,321 Total $ 40,445 $ 31,736 $ 72,181 $ 12,420 $ 12,540 $ 24,960 Nine months ended September 30, 2019 (unaudited) Three months ended September 30, 2019 (unaudited) Licensing and related revenues Royalties Total Licensing and related revenues Royalties Total Primary geographical markets United States $ 6,809 $ 904 $ 7,713 $ 3,450 $ 361 $ 3,811 Europe and Middle East 2,848 10,397 13,245 1,241 5,670 6,911 Asia Pacific 23,427 14,455 37,882 6,578 6,171 12,749 Total $ 33,084 $ 25,756 $ 58,840 $ 11,269 $ 12,202 $ 23,471 Major product/service lines Connectivity products (baseband for handset and other devices, Bluetooth, Wi-Fi, NB-IoT and SATA/SAS) $ 23,324 $ 23,100 $ 46,424 $ 8,608 $ 10,424 $ 19,032 Smart sensing products (AI, sensor fusion, audio/sound and imaging and vision) 9,760 2,656 12,416 2,661 1,778 4,439 Total $ 33,084 $ 25,756 $ 58,840 $ 11,269 $ 12,202 $ 23,471 Timing of revenue recognition Products transferred at a point in time $ 22,775 $ 25,756 $ 48,531 $ 7,468 $ 12,202 $ 19,670 Products and services transferred over time 10,309 — 10,309 3,801 — 3,801 Total $ 33,084 $ 25,756 $ 58,840 $ 11,269 $ 12,202 $ 23,471 Contract balances : The following table provides information about trade receivables, unbilled receivables and contract liabilities from contracts with customers (in thousands): September 3 0 , 20 (unaudited) December 31, 2019 Trade receivables $ 15,538 $ 11,066 Unbilled receivables (associated with licensing and related revenue) 4,763 5,269 Unbilled receivables (associated with royalties) 8,678 11,972 Deferred revenues (short-term contract liabilities) 2,777 3,642 The Company receives payments from customers based upon contractual payment schedules; trade receivables 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 three nine September 30, 2020, January 1, 2020. |
Note 4 - Leases
Note 4 - Leases | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Leases of Lessee Disclosure [Text Block] | NOTE 4: L eases The Company leases substantially all of its office space and vehicles under operating leases. The Company's leases have original lease periods expiring between 2020 2034. one not one 2028, not Under Topic 842 12 The following is a summary of weighted average remaining lease terms and discount rates for all of the Company’s operating leases: September 30, 2020 (Unaudited) Weighted average remaining lease term (years) 6.97 Weighted average discount rates 3.69 % Total operating lease cost during the three nine September 30, 2020 three nine September 30, 2020, Maturities of lease liabilities are as follows: The remainder of 2020 $ 881 2021 2,171 2022 1,861 2023 1,500 2024 1,149 2025 and thereafter 4,308 Total undiscounted cash flows 11,870 Less imputed interest 1,405 Present value of lease liabilities $ 10,465 |
Note 5 - Marketable Securities
Note 5 - Marketable Securities | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Cash, Cash Equivalents, and Marketable Securities [Text Block] | NOTE 5 : MARKETABLE SECURITIES The following is a summary of available-for-sale marketable securities: September 3 0 , 20 20 (Unaudited) Amortized cost Gross gains Gross losses Fair value Available-for-sale - matures within one year: Corporate bonds $ 12,486 $ 72 $ — $ 12,558 12,486 72 — 12,558 Available-for-sale - matures after one year through five years: Corporate bonds 65,606 610 (268 ) 65,948 65,606 610 (268 ) 65,948 Total $ 78,092 $ 682 $ (268 ) $ 78,506 December 31, 2019 Amortized cost Gross gains Gross losses Fair value Available-for-sale - matures within one year: Corporate bonds $ 18,224 $ 16 $ (11 ) $ 18,229 18,224 16 (11 ) 18,229 Available-for-sale - matures after one year through five years: Corporate bonds 46,593 168 (123 ) 46,638 46,593 168 (123 ) 46,638 Total $ 64,817 $ 184 $ (134 ) $ 64,867 The following table presents gross unrealized losses and fair values for those investments that were in an unrealized loss position as of September 30, 2020 December 31, 2019, Less than 12 months 12 months or greater Fair value Gross unrealized loss Fair value Gross unrealized loss As of September 30, 2020 (unaudited) $ 34,352 $ (233 ) $ 4,559 $ (35 ) As of December 31, 2019 $ 22,852 $ (102 ) $ 14,231 $ (32 ) As of September 30, 2020, not The following table presents gross realized gains and losses from sale of available-for-sale marketable securities: Nine months ended September 30, Three months ended September 30, 2020 (unaudited) 2019 (unaudited) 2020 (unaudited) 2019 (unaudited) Gross realized gains from sale of available-for-sale marketable securities $ 4 $ 1 $ — $ 1 Gross realized losses from sale of available-for-sale marketable securities $ (19 ) $ (39 ) $ — $ (4 ) |
Note 6 - Fair Value Measurement
Note 6 - Fair Value Measurement | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 6 : FAIR VALUE MEASUREMENT 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 and foreign currency derivative contracts at fair value. Marketable securities and foreign currency derivative contracts are classified within Level II as the valuation inputs are based on quoted prices and market observable data of similar instruments. The table below sets forth the Company’s assets measured at fair value by level within the fair value hierarchy. Assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Description September 30 , 2020 (unaudited) Level I (unaudited) Level II (unaudited) Level III (unaudited) Assets: Marketable securities: Corporate bonds $ 78,506 $ — $ 78,506 $ — Foreign exchange contracts 26 — 26 — Description December 31, 2019 Level I Level II Level III Assets: Marketable securities: Corporate bonds 64,867 — 64,867 — Foreign exchange contracts 56 — 56 |
Note 7 - Intangible Assets, Net
Note 7 - Intangible Assets, Net | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | NOTE 7: INTANGIBLE ASSETS, NET Nine months ended September 30, 2020 Year ended December 31, 2019 Weighted amortization p eriod (years) Gross carrying amount Accumulated amortization Net Gross carrying amount Accumulated amortization Net Intangible assets –amortizable: Intangible assets related to the acquisition of RivieraWaves Customer relationships 4.5 $ 272 $ 272 $ — $ 272 $ 272 $ — Customer backlog 1.5 93 93 — 93 93 — Core technologies 5.1 5,796 5,796 — 5,796 5,796 — Intangible assets related to the acquisition of Hillcrest Labs business Customer relationships 4.4 3,518 1,045 2,473 3,518 395 3,123 Customer backlog 0.5 72 72 — 72 65 7 Core technologies 7.5 2,475 398 2,077 2,475 150 2,325 Intangible assets related to an investment in Immervision Core technologies 6.4 7,063 1,299 5,764 7,063 472 6,591 Intangible assets related to an investment in NB-IoT technologies NB-IoT technologies (*) 7.0 1,961 794 1,167 1,961 583 1,378 Total intangible assets $ 21,250 $ 9,769 $ 11,481 $ 21,250 $ 7,826 $ 13,424 first 2018, not not September 30, 2020. 2019, Future estimated annual amortization charges are as follows: 2020 $ 645 2021 2,582 2022 2,581 2023 1,906 2024 1,852 2025 and thereafter 1,915 $ 11,481 |
Note 8 - Geographic Information
Note 8 - Geographic Information and Major Customer Data | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 8 : GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA a. Summary information about geographic areas: The Company manages its business on the basis of one reportable segment: the licensing of intellectual property to semiconductor companies and electronic equipment manufacturers (see Note 1 Nine months ended September 3 0 , Three months ended September 3 0 , 20 20 (unaudited) 2019 (unaudited) 20 20 (unaudited) 2019 (unaudited) Revenues based on customer location: United States $ 13,754 $ 7,713 $ 3,079 $ 3,811 Europe and Middle East (1) 10,017 13,245 825 6,911 Asia Pacific (2) (3) 48,410 37,882 21,056 12,749 $ 72,181 $ 58,840 $ 24,960 $ 23,471 (1)Germany $ * ) $ 10,613 $ * ) $ 5,425 (2)China $ 37,713 $ 25,542 $ 16,085 $ 8,993 (3)Japan $ * ) $ 6,544 $ * ) $ * ) *) Less than 10% b. Major customer data as a percentage of total revenues: The following table sets forth the customers that represented 10% Nine months ended September 30, Three months ended September 30, 2020 (unaudited) 2019 (unaudited) 2020 (unaudited) 2019 (unaudited) Customer A 13 % 19 % * ) 23 % Customer B 12 % 15 % 18 % 15 % Customer C 13 % * ) 16 % * ) *) Less than 10% |
Note 9 - Net Loss Per Share of
Note 9 - Net Loss Per Share of Common Stock | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 9 : NET INCOME ( LOSS ) PER SHARE OF COMMON STOCK Basic net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during each period. Diluted net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during each period, plus dilutive potential shares of common stock considered outstanding during the period, in accordance with FASB ASC No. 260, Nine months ended September 3 0 , Three months ended September 3 0 , 20 20 (unaudited) 201 9 (unaudited) 20 20 (unaudited) 201 9 (unaudited) Numerator: Net income (loss) $ (3,014 ) $ (3,034 ) $ (739 ) $ 775 Denominator (in thousands): Basic weighted-average common stock outstanding 22,059 21,936 22,163 21,953 Effect of stock -based awards — — — 451 Diluted weighted average common stock outstanding 22,059 21,936 22,163 22,404 Basic net income (loss) per share $ (0.14 ) $ (0.14 ) $ (0.03 ) $ 0.04 Diluted net income (loss) per share $ (0.14 ) $ (0.14 ) $ (0.03 ) $ 0.03 The total number of shares related to outstanding equity-based awards excluded from the calculation of diluted net loss per share was 1,162,650 for both the three nine September 30, 2020. three September 30, 2019. nine September 30, 2019. |
Note 10 - Common Stock and Stoc
Note 10 - Common Stock and Stock-based Compensation Plans | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE 10 : COMMON STOCK AND STOCK-BASED COMPENSATION PLANS The Company grants stock options and stock appreciation rights (“SARs”) capped with a ceiling to employees and stock options to non-employee directors of the Company and its subsidiaries and provides the right to purchase common stock pursuant to the Company’s 2002 one four nine September 30, 2020, Number of units (1) Weighted price Weighted term Aggregate value Outstanding as of December 31, 2019 642,253 $ 20.14 3.5 $ 4,718 Granted — — Exercised (333,980 ) 18.42 Forfeited or expired (21 ) 16.20 Outstanding as of September 30, 2020 (2) 308,252 $ 22.02 3.7 $ 5,349 Exercisable as of September 30, 2020 (3) 298,752 $ 21.74 3.6 $ 5,266 ( 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 294,814 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 285,314 shares of the Company’s common stock issuable upon exercise. As of September 30, 2020, fourth 2020. Starting in the second 2015, 2011 “2011 three first 2017, first 2018, two first On May 7, 2019, February 19, 2019, three 1 three 1/3 February 19, 2020, 2 2019 “2019 100% 2019 2019 20,000 100% 2019 2019 20,000 2019, 2019 three 1/3 February 19, 2020, 1/3 February 19, 2021 February 19, 2022. On July 19, 2019, 5635 4 three one three On February 20, 2020, 2011 Weighting Goals 50% Vesting of the full 50% 2020 “2020 90% 2020 90% 99% 2020 91% 99% 100% 2020 1% 2020 110%, 2% 50% Vesting of the full 50% 2020 S&P500 2020 90% S&P500 S&P500, 90% 99% S&P500 91% 99% 100% S&P500 1% S&P500 110%, 2% Additionally, PSUs representing an additional 20%, meaning an additional 3,410, 1,023, 909 and 909 PSUs, would be eligible for vesting for each of the Company’s CEO, Executive Vice President, Worldwide Sales, Chief Financial Officer and Chief Operating Officer, respectively, if the performance goals set forth above are exceeded. Subject to achievement of the thresholds for the above performance goals for 2020, February 20, 2021, February 20, 2022 February 20, 2023. Also, on February 20, 2020, 2011 ● If the Company’s non-GAAP EPS on or before the end of 2022 2018. ● If the Company’s market cap reaches at least $1 billion for at least 30 Furthermore, on February 20, 2020, three one three Weighting Goals 50% Achievement of specified bookings in 2020 90% 90% 1% 30% Execution of definitive license agreements for pre-determined software with at least five seven five 71% 6% six 86% 6% 20% Execution of definitive license agreements with at least two A summary of the Company’s RSU and PSU activities and related information for the nine September 30, 2020, Number of RSUs and PSUs Weighted Average Fair Value Unvested as of December 31, 2019 732,564 $ 30.11 Granted 466,921 29.17 Vested (301,792 ) 31.33 Forfeited or expired (43,295 ) 29.82 Unvested as of September 30, 2020 854,398 $ 29.18 As of September 30, 2020, The following table shows the total equity-based compensation expense included in the interim condensed consolidated statements of income (loss): Nine months ended September 30, Three months ended September 30, 2020 (unaudited) 2019 (unaudited) 2020 (unaudited) 2019 (unaudited) Cost of revenue $ 473 $ 464 $ 159 $ 168 Research and development, net 5,115 4,314 1,770 1,494 Sales and marketing 1,496 1,112 533 362 General and administrative 2,986 1,957 1,084 728 Total equity-based compensation expense $ 10,070 $ 7,847 $ 3,546 $ 2,752 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: Nine months ended September 30, Three months ended September 30, 2020 (unaudited) 2019 (unaudited) 2020 (unaudited) 2019 (unaudited) Expected dividend yield 0% 0% 0% 0 % Expected volatility 32% - 60% 42% - 43% 37% - 60% 42 % Risk-free interest rate 0.1% - 1.9% 2.0% - 2.5% 0.1% - 1.8% 2.0 % Contractual term of up to (months) 24 24 24 24 |
Note 11 - Derivatives and Hedgi
Note 11 - Derivatives and Hedging Activities | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 1 1 : DERIVATIVES 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 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. As of September 30, 2020 December 31, 2019, The fair value of the Company’s outstanding derivative instruments is as follows: September 30, December 31, (unaudited) Derivative assets Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ 3 $ 14 Foreign exchange forward contracts 23 42 Total $ 26 $ 56 The increase (decrease) in unrealized gains (losses) recognized in “accumulated other comprehensive gain (loss)” on derivatives, before tax effect, is as follows: Nine months ended September 30, Three months ended September 30, 2020 (unaudited) 2019 (unaudited) 2020 (unaudited) 2019 (unaudited) Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ (22 ) $ 62 $ 3 $ 33 Foreign exchange forward contracts 506 339 124 50 $ 484 $ 401 $ 127 $ 83 The net (gains) losses reclassified from “accumulated other comprehensive gain (loss)” into income are as follows: Nine months ended September 30, Three months ended September 30, 2020 (unaudited) 2019 (unaudited) 2020 (unaudited) 2019 (unaudited) Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ 11 $ (34 ) $ — $ (27 ) Foreign exchange forward contracts (525 ) (270 ) (352 ) (90 ) $ (514 ) $ (304 ) $ (352 ) $ (117 ) The Company recorded in cost of revenues and operating expenses a net gain of $352 and $514 during the three nine September 30, 2020, 2019, |
Note 12 - Accumulated Other Com
Note 12 - Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 1 2 : ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables summarize the changes in accumulated balances of other comprehensive income (loss), net of taxes: Nine months ended September 30, 2020 Three months ended September 30, 2020 Unrealized gains (losses) on securities Unrealized hedges Total Unrealized gains (losses) on securities Unrealized gains flow hedges Total Beginning balance $ 45 $ 49 $ 94 $ 212 $ 221 $ 433 Other comprehensive income before reclassifications 282 426 708 126 111 237 Amounts reclassified from accumulated other comprehensive income (loss) 11 (452 ) (441 ) — (309 ) (309 ) Net current period other comprehensive income (loss) 293 (26 ) 267 126 (198 ) (72 ) Ending balance $ 338 $ 23 $ 361 $ 338 $ 23 $ 361 Nine months ended September 30, 2019 Three months ended September 30, 2019 (unaudited) Unrealized gains (losses) on securities Unrealized hedges Total Unrealized gains (losses) on securities Unrealized gains flow hedges Total Beginning balance $ (1,046 ) $ (68 ) $ (1,114 ) $ 17 $ 47 $ 64 Other comprehensive income (loss) before reclassifications 977 354 1,331 (60 ) 74 14 Amounts reclassified from accumulated other comprehensive income (loss) 29 (268 ) (239 ) 3 (103 ) (100 ) Net current period other comprehensive income (loss) 1,006 86 1,092 (57 ) (29 ) (86 ) Ending balance $ (40 ) $ 18 $ (22 ) $ (40 ) $ 18 $ (22 ) The following table provides details about reclassifications out of accumulated other comprehensive income (loss): Details about Accumulated Income (Loss) Components Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Statements of Income (Loss) Nine months ended September 30, Three months ended September 30, 2020 ( unaudited) 2019 ( unaudited) 2020 ( unaudited) 2019 ( unaudited) Unrealized gains (losses) on cash flow hedges $ 10 $ 5 $ 7 $ 1 Cost of revenues 454 269 312 104 Research and development 15 8 10 3 Sales and marketing 35 22 23 9 General and administrative 514 304 352 117 Total, before income taxes 62 36 43 14 Income tax expense 452 268 309 103 Total, net of income taxes Unrealized gains (losses) on available-for-sale marketable securities (15 ) (38 ) — (3 ) Financial loss, net (4 ) (9 ) — — Income tax benefit (11 ) (29 ) — (3 ) Total, net of income taxes $ 441 $ 239 $ 309 $ 100 Total, net of income taxes |
Note 13 - Share Repurchase Prog
Note 13 - Share Repurchase Program | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Treasury Stock [Text Block] | NOTE 1 3 : SHARE REPURCHASE PROGRAM In February 2020, The Company did not third 2020 third 2019. first nine September 30, 2020, first nine September 30, 2019, September 30, 2020, 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, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The interim condensed consolidated financial statements have been prepared according to U.S Generally Accepted Accounting Principles (“U.S. GAAP”). The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the three nine September 30, 2020 not may December 31, 2020. 10K December 31, 2019. The significant accounting policies applied in the annual consolidated financial statements of the Company as of December 31, 2019, 10K February 28, 2020, |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements On January 1, 2020, No. 2016 13, 2016 13” 2016 13 not |
Trade Receivables and Allowance Policy [Policy Text Block] | Trade Receivable and Allowances Trade receivables are recorded and carried at the original invoiced amount less an allowance for any potential uncollectible amounts. The Company makes estimates of expected credit losses for the allowance for doubtful accounts and allowance for unbilled receivables based upon its assessment of various factors, including historical experience, the age of the trade receivable balances, credit quality of its customers, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may |
Marketable Securities, Policy [Policy Text Block] | Marketable S ecurities The Company holds investments in marketable securities, consisting principally of corporate bonds. The Company classifies marketable securities as available-for-sale in its current assets because they represent investments of cash available for current operations. The Company’s available-for-sale investments are carried at estimated fair value with any unrealized gains and losses, net of taxes, included in accumulated other comprehensive income (loss) in stockholders' equity. Available-for-sale debt securities with an amortized cost basis in excess of estimated fair value are assessed to determine what amount of that difference, if any, is caused by expected credit losses. Expected credit losses on available-for-sale debt securities are recognized in interest and other income (expense), net, on the Company’s condensed consolidated statements of income (loss), and any remaining unrealized losses, net of taxes, are included in accumulated other comprehensive income (loss) in stockholders' equity. The amount of credit losses recorded for the three nine September 30, 2020 not not |
Use of Estimates, Policy [Policy Text Block] | Use of E stimates The preparation of the interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company’s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the interim condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. |
Note 3 - Revenue Recognition (T
Note 3 - Revenue Recognition (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | Remainder of 2020 2021 2022 License and related revenues $ 5,208 $ 4,040 $ 368 |
Disaggregation of Revenue [Table Text Block] | Nine months ended September 3 0 , 20 20 (unaudited) Three months ended September 3 0 , 2020 (unaudited) Licensing and related revenues Royalties Total Licensing and related revenues Royalties Total Primary geographical markets United States $ 5,784 $ 7,970 $ 13,754 $ 1,035 $ 2,044 $ 3,079 Europe and Middle East 4,980 5,037 10,017 347 478 825 Asia Pacific 29,681 18,729 48,410 11,038 10,018 21,056 Total $ 40,445 $ 31,736 $ 72,181 $ 12,420 $ 12,540 $ 24,960 Major product/service lines Connectivity products (baseband for handset and other devices, Bluetooth, Wi-Fi, NB-IoT and SATA/SAS) $ 31,679 $ 25,037 $ 56,716 $ 8,821 $ 9,752 $ 18,573 Smart sensing products (AI, sensor fusion, audio/sound and imaging and vision) 8,766 6,699 15,465 3,599 2,788 6,387 Total $ 40,445 $ 31,736 $ 72,181 $ 12,420 $ 12,540 $ 24,960 Timing of revenue recognition Products transferred at a point in time $ 30,405 $ 31,736 $ 62,141 $ 9,099 $ 12,540 $ 21,639 Products and services transferred over time 10,040 — 10,040 3,321 — 3,321 Total $ 40,445 $ 31,736 $ 72,181 $ 12,420 $ 12,540 $ 24,960 Nine months ended September 30, 2019 (unaudited) Three months ended September 30, 2019 (unaudited) Licensing and related revenues Royalties Total Licensing and related revenues Royalties Total Primary geographical markets United States $ 6,809 $ 904 $ 7,713 $ 3,450 $ 361 $ 3,811 Europe and Middle East 2,848 10,397 13,245 1,241 5,670 6,911 Asia Pacific 23,427 14,455 37,882 6,578 6,171 12,749 Total $ 33,084 $ 25,756 $ 58,840 $ 11,269 $ 12,202 $ 23,471 Major product/service lines Connectivity products (baseband for handset and other devices, Bluetooth, Wi-Fi, NB-IoT and SATA/SAS) $ 23,324 $ 23,100 $ 46,424 $ 8,608 $ 10,424 $ 19,032 Smart sensing products (AI, sensor fusion, audio/sound and imaging and vision) 9,760 2,656 12,416 2,661 1,778 4,439 Total $ 33,084 $ 25,756 $ 58,840 $ 11,269 $ 12,202 $ 23,471 Timing of revenue recognition Products transferred at a point in time $ 22,775 $ 25,756 $ 48,531 $ 7,468 $ 12,202 $ 19,670 Products and services transferred over time 10,309 — 10,309 3,801 — 3,801 Total $ 33,084 $ 25,756 $ 58,840 $ 11,269 $ 12,202 $ 23,471 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | September 3 0 , 20 (unaudited) December 31, 2019 Trade receivables $ 15,538 $ 11,066 Unbilled receivables (associated with licensing and related revenue) 4,763 5,269 Unbilled receivables (associated with royalties) 8,678 11,972 Deferred revenues (short-term contract liabilities) 2,777 3,642 |
Note 4 - Leases (Tables)
Note 4 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | September 30, 2020 (Unaudited) Weighted average remaining lease term (years) 6.97 Weighted average discount rates 3.69 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | The remainder of 2020 $ 881 2021 2,171 2022 1,861 2023 1,500 2024 1,149 2025 and thereafter 4,308 Total undiscounted cash flows 11,870 Less imputed interest 1,405 Present value of lease liabilities $ 10,465 |
Note 5 - Marketable Securities
Note 5 - Marketable Securities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | September 3 0 , 20 20 (Unaudited) Amortized cost Gross gains Gross losses Fair value Available-for-sale - matures within one year: Corporate bonds $ 12,486 $ 72 $ — $ 12,558 12,486 72 — 12,558 Available-for-sale - matures after one year through five years: Corporate bonds 65,606 610 (268 ) 65,948 65,606 610 (268 ) 65,948 Total $ 78,092 $ 682 $ (268 ) $ 78,506 December 31, 2019 Amortized cost Gross gains Gross losses Fair value Available-for-sale - matures within one year: Corporate bonds $ 18,224 $ 16 $ (11 ) $ 18,229 18,224 16 (11 ) 18,229 Available-for-sale - matures after one year through five years: Corporate bonds 46,593 168 (123 ) 46,638 46,593 168 (123 ) 46,638 Total $ 64,817 $ 184 $ (134 ) $ 64,867 |
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 September 30, 2020 (unaudited) $ 34,352 $ (233 ) $ 4,559 $ (35 ) As of December 31, 2019 $ 22,852 $ (102 ) $ 14,231 $ (32 ) |
Schedule of Realized Gain (Loss) [Table Text Block] | Nine months ended September 30, Three months ended September 30, 2020 (unaudited) 2019 (unaudited) 2020 (unaudited) 2019 (unaudited) Gross realized gains from sale of available-for-sale marketable securities $ 4 $ 1 $ — $ 1 Gross realized losses from sale of available-for-sale marketable securities $ (19 ) $ (39 ) $ — $ (4 ) |
Note 6 - Fair Value Measureme_2
Note 6 - Fair Value Measurement (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Description September 30 , 2020 (unaudited) Level I (unaudited) Level II (unaudited) Level III (unaudited) Assets: Marketable securities: Corporate bonds $ 78,506 $ — $ 78,506 $ — Foreign exchange contracts 26 — 26 — Description December 31, 2019 Level I Level II Level III Assets: Marketable securities: Corporate bonds 64,867 — 64,867 — Foreign exchange contracts 56 — 56 |
Note 7 - Intangible Assets, N_2
Note 7 - Intangible Assets, Net (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Nine months ended September 30, 2020 Year ended December 31, 2019 Weighted amortization p eriod (years) Gross carrying amount Accumulated amortization Net Gross carrying amount Accumulated amortization Net Intangible assets –amortizable: Intangible assets related to the acquisition of RivieraWaves Customer relationships 4.5 $ 272 $ 272 $ — $ 272 $ 272 $ — Customer backlog 1.5 93 93 — 93 93 — Core technologies 5.1 5,796 5,796 — 5,796 5,796 — Intangible assets related to the acquisition of Hillcrest Labs business Customer relationships 4.4 3,518 1,045 2,473 3,518 395 3,123 Customer backlog 0.5 72 72 — 72 65 7 Core technologies 7.5 2,475 398 2,077 2,475 150 2,325 Intangible assets related to an investment in Immervision Core technologies 6.4 7,063 1,299 5,764 7,063 472 6,591 Intangible assets related to an investment in NB-IoT technologies NB-IoT technologies (*) 7.0 1,961 794 1,167 1,961 583 1,378 Total intangible assets $ 21,250 $ 9,769 $ 11,481 $ 21,250 $ 7,826 $ 13,424 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2020 $ 645 2021 2,582 2022 2,581 2023 1,906 2024 1,852 2025 and thereafter 1,915 $ 11,481 |
Note 8 - Geographic Informati_2
Note 8 - Geographic Information and Major Customer Data (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Revenue from External Customers by Geographic Areas [Table Text Block] | Nine months ended September 3 0 , Three months ended September 3 0 , 20 20 (unaudited) 2019 (unaudited) 20 20 (unaudited) 2019 (unaudited) Revenues based on customer location: United States $ 13,754 $ 7,713 $ 3,079 $ 3,811 Europe and Middle East (1) 10,017 13,245 825 6,911 Asia Pacific (2) (3) 48,410 37,882 21,056 12,749 $ 72,181 $ 58,840 $ 24,960 $ 23,471 (1)Germany $ * ) $ 10,613 $ * ) $ 5,425 (2)China $ 37,713 $ 25,542 $ 16,085 $ 8,993 (3)Japan $ * ) $ 6,544 $ * ) $ * ) |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Nine months ended September 30, Three months ended September 30, 2020 (unaudited) 2019 (unaudited) 2020 (unaudited) 2019 (unaudited) Customer A 13 % 19 % * ) 23 % Customer B 12 % 15 % 18 % 15 % Customer C 13 % * ) 16 % * ) |
Note 9 - Net Loss Per Share o_2
Note 9 - Net Loss Per Share of Common Stock (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Nine months ended September 3 0 , Three months ended September 3 0 , 20 20 (unaudited) 201 9 (unaudited) 20 20 (unaudited) 201 9 (unaudited) Numerator: Net income (loss) $ (3,014 ) $ (3,034 ) $ (739 ) $ 775 Denominator (in thousands): Basic weighted-average common stock outstanding 22,059 21,936 22,163 21,953 Effect of stock -based awards — — — 451 Diluted weighted average common stock outstanding 22,059 21,936 22,163 22,404 Basic net income (loss) per share $ (0.14 ) $ (0.14 ) $ (0.03 ) $ 0.04 Diluted net income (loss) per share $ (0.14 ) $ (0.14 ) $ (0.03 ) $ 0.03 |
Note 10 - Common Stock and St_2
Note 10 - Common Stock and Stock-based Compensation Plans (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Number of units (1) Weighted price Weighted term Aggregate value Outstanding as of December 31, 2019 642,253 $ 20.14 3.5 $ 4,718 Granted — — Exercised (333,980 ) 18.42 Forfeited or expired (21 ) 16.20 Outstanding as of September 30, 2020 (2) 308,252 $ 22.02 3.7 $ 5,349 Exercisable as of September 30, 2020 (3) 298,752 $ 21.74 3.6 $ 5,266 |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Number of RSUs and PSUs Weighted Average Fair Value Unvested as of December 31, 2019 732,564 $ 30.11 Granted 466,921 29.17 Vested (301,792 ) 31.33 Forfeited or expired (43,295 ) 29.82 Unvested as of September 30, 2020 854,398 $ 29.18 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Nine months ended September 30, Three months ended September 30, 2020 (unaudited) 2019 (unaudited) 2020 (unaudited) 2019 (unaudited) Cost of revenue $ 473 $ 464 $ 159 $ 168 Research and development, net 5,115 4,314 1,770 1,494 Sales and marketing 1,496 1,112 533 362 General and administrative 2,986 1,957 1,084 728 Total equity-based compensation expense $ 10,070 $ 7,847 $ 3,546 $ 2,752 |
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | Nine months ended September 30, Three months ended September 30, 2020 (unaudited) 2019 (unaudited) 2020 (unaudited) 2019 (unaudited) Expected dividend yield 0% 0% 0% 0 % Expected volatility 32% - 60% 42% - 43% 37% - 60% 42 % Risk-free interest rate 0.1% - 1.9% 2.0% - 2.5% 0.1% - 1.8% 2.0 % Contractual term of up to (months) 24 24 24 24 |
Note 11 - Derivatives and Hed_2
Note 11 - Derivatives and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Derivative Instruments [Table Text Block] | September 30, December 31, (unaudited) Derivative assets Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ 3 $ 14 Foreign exchange forward contracts 23 42 Total $ 26 $ 56 |
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] | Nine months ended September 30, Three months ended September 30, 2020 (unaudited) 2019 (unaudited) 2020 (unaudited) 2019 (unaudited) Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ (22 ) $ 62 $ 3 $ 33 Foreign exchange forward contracts 506 339 124 50 $ 484 $ 401 $ 127 $ 83 |
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Nine months ended September 30, Three months ended September 30, 2020 (unaudited) 2019 (unaudited) 2020 (unaudited) 2019 (unaudited) Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ 11 $ (34 ) $ — $ (27 ) Foreign exchange forward contracts (525 ) (270 ) (352 ) (90 ) $ (514 ) $ (304 ) $ (352 ) $ (117 ) |
Note 12 - Accumulated Other C_2
Note 12 - Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Nine months ended September 30, 2020 Three months ended September 30, 2020 Unrealized gains (losses) on securities Unrealized hedges Total Unrealized gains (losses) on securities Unrealized gains flow hedges Total Beginning balance $ 45 $ 49 $ 94 $ 212 $ 221 $ 433 Other comprehensive income before reclassifications 282 426 708 126 111 237 Amounts reclassified from accumulated other comprehensive income (loss) 11 (452 ) (441 ) — (309 ) (309 ) Net current period other comprehensive income (loss) 293 (26 ) 267 126 (198 ) (72 ) Ending balance $ 338 $ 23 $ 361 $ 338 $ 23 $ 361 Nine months ended September 30, 2019 Three months ended September 30, 2019 (unaudited) Unrealized gains (losses) on securities Unrealized hedges Total Unrealized gains (losses) on securities Unrealized gains flow hedges Total Beginning balance $ (1,046 ) $ (68 ) $ (1,114 ) $ 17 $ 47 $ 64 Other comprehensive income (loss) before reclassifications 977 354 1,331 (60 ) 74 14 Amounts reclassified from accumulated other comprehensive income (loss) 29 (268 ) (239 ) 3 (103 ) (100 ) Net current period other comprehensive income (loss) 1,006 86 1,092 (57 ) (29 ) (86 ) Ending balance $ (40 ) $ 18 $ (22 ) $ (40 ) $ 18 $ (22 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Details about Accumulated Income (Loss) Components Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Statements of Income (Loss) Nine months ended September 30, Three months ended September 30, 2020 ( unaudited) 2019 ( unaudited) 2020 ( unaudited) 2019 ( unaudited) Unrealized gains (losses) on cash flow hedges $ 10 $ 5 $ 7 $ 1 Cost of revenues 454 269 312 104 Research and development 15 8 10 3 Sales and marketing 35 22 23 9 General and administrative 514 304 352 117 Total, before income taxes 62 36 43 14 Income tax expense 452 268 309 103 Total, net of income taxes Unrealized gains (losses) on available-for-sale marketable securities (15 ) (38 ) — (3 ) Financial loss, net (4 ) (9 ) — — Income tax benefit (11 ) (29 ) — (3 ) Total, net of income taxes $ 441 $ 239 $ 309 $ 100 Total, net of income taxes |
Note 2 - Basis of Presentatio_2
Note 2 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2020 | Sep. 30, 2020 | |
Other-than-temporary Impairment Loss, Debt Securities, Portion Recognized in Earnings, Total | $ 0 | $ 0 |
Note 3 - Revenue Recognition (D
Note 3 - Revenue Recognition (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2020 | Sep. 30, 2020 | |
Contract with Customer, Liability, Revenue Recognized | $ 226 | $ 3,541 |
Note 3 - Revenue Recognition -
Note 3 - Revenue Recognition - Remaining Performance Obligation 2 (Details) $ in Thousands | Sep. 30, 2020USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01 | |
Revenue, Remaining Performance Obligation | $ 5,208 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation | 4,040 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation | $ 368 |
Note 3 - Revenue Recognition _2
Note 3 - Revenue Recognition - Remaining Performance Obligation (Details) (Parentheticals) | Sep. 30, 2020 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01 | |
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 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Note 3 - Revenue Recognition _3
Note 3 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Revenues | $ 24,960 | $ 23,471 | $ 72,181 | $ 58,840 |
Transferred at Point in Time [Member] | ||||
Revenues | 21,639 | 19,670 | 62,141 | 48,531 |
Transferred over Time [Member] | ||||
Revenues | 3,321 | 3,801 | 10,040 | 10,309 |
Connectivity Products [Member] | ||||
Revenues | 18,573 | 19,032 | 56,716 | 46,424 |
Smart Sensing Products [Member] | ||||
Revenues | 6,387 | 4,439 | 15,465 | 12,416 |
License [Member] | ||||
Revenues | 12,420 | 11,269 | 40,445 | 33,084 |
License [Member] | Transferred at Point in Time [Member] | ||||
Revenues | 9,099 | 7,468 | 30,405 | 22,775 |
License [Member] | Transferred over Time [Member] | ||||
Revenues | 3,321 | 3,801 | 10,040 | 10,309 |
License [Member] | Connectivity Products [Member] | ||||
Revenues | 8,821 | 8,608 | 31,679 | 23,324 |
License [Member] | Smart Sensing Products [Member] | ||||
Revenues | 3,599 | 2,661 | 8,766 | 9,760 |
Royalty [Member] | ||||
Revenues | 12,540 | 12,202 | 31,736 | 25,756 |
Royalty [Member] | Transferred at Point in Time [Member] | ||||
Revenues | 12,540 | 12,202 | 31,736 | 25,756 |
Royalty [Member] | Transferred over Time [Member] | ||||
Revenues | 0 | 0 | 0 | 0 |
Royalty [Member] | Connectivity Products [Member] | ||||
Revenues | 9,752 | 10,424 | 25,037 | 23,100 |
Royalty [Member] | Smart Sensing Products [Member] | ||||
Revenues | 2,788 | 1,778 | 6,699 | 2,656 |
UNITED STATES | ||||
Revenues | 3,079 | 3,811 | 13,754 | 7,713 |
UNITED STATES | License [Member] | ||||
Revenues | 1,035 | 3,450 | 5,784 | 6,809 |
UNITED STATES | Royalty [Member] | ||||
Revenues | 2,044 | 361 | 7,970 | 904 |
Europe and Middle East [Member] | ||||
Revenues | 825 | 6,911 | 10,017 | 13,245 |
Europe and Middle East [Member] | License [Member] | ||||
Revenues | 347 | 1,241 | 4,980 | 2,848 |
Europe and Middle East [Member] | Royalty [Member] | ||||
Revenues | 478 | 5,670 | 5,037 | 10,397 |
Asia Pacific [Member] | ||||
Revenues | 21,056 | 12,749 | 48,410 | 37,882 |
Asia Pacific [Member] | License [Member] | ||||
Revenues | 11,038 | 6,578 | 29,681 | 23,427 |
Asia Pacific [Member] | Royalty [Member] | ||||
Revenues | $ 10,018 | $ 6,171 | $ 18,729 | $ 14,455 |
Note 3 - Revenue Recognition _4
Note 3 - Revenue Recognition - Assets and Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Contract with customer liability, balance | $ 2,777 | $ 3,642 |
Trade Receivables [Member] | ||
Contract with customer asset, balance | 15,538 | 11,066 |
Accrued Revenues [Member] | Licensing and Other [Member] | ||
Contract with customer asset, balance | 4,763 | 5,269 |
Accrued Revenues [Member] | Royalty [Member] | ||
Contract with customer asset, balance | 8,678 | 11,972 |
Deferred Revenue [Member] | ||
Contract with customer liability, balance | $ 2,777 | $ 3,642 |
Note 4 - Leases (Details Textua
Note 4 - Leases (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2020 | Sep. 30, 2020 | |
Operating Lease, Cost | $ 652 | $ 1,883 |
Operating Lease, Payments | $ 623 | $ 1,968 |
Note 4 - Leases - Summary of We
Note 4 - Leases - Summary of Weighted Average Remaining Lease Terms and Discount Rates (Details) | Sep. 30, 2020 |
Weighted average remaining lease term (years) (Year) | 6 years 11 months 19 days |
Weighted average discount rates | 3.69% |
Note 4 - Leases - Maturities of
Note 4 - Leases - Maturities of Lease Liabilities (Details) $ in Thousands | Sep. 30, 2020USD ($) |
The remainder of 2020 | $ 881 |
2021 | 2,171 |
2022 | 1,861 |
2023 | 1,500 |
2024 | 1,149 |
2025 and thereafter | 4,308 |
Total undiscounted cash flows | 11,870 |
Less imputed interest | 1,405 |
Present value of lease liabilities | $ 10,465 |
Note 5 - Marketable Securitie_2
Note 5 - Marketable Securities - Available-for-sale Marketable Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Available-for-sale - matures within one year, Amortized cost | $ 12,486 | $ 18,224 |
Available-for-sale - matures within one year, Gross unrealized gains | 72 | 16 |
Available-for-sale - matures within one year, Gross unrealized losses | 0 | (11) |
Available-for-sale - matures within one year, Fair value | 12,558 | 18,229 |
Available-for-sale - matures after one year through five years, Amortized cost | 65,606 | 46,593 |
Available-for-sale - matures after one year through five years, Gross unrealized gains | 610 | 168 |
Available-for-sale - matures after one year through five years, Gross unrealized losses | (268) | (123) |
Available-for-sale - matures after one year through five years, Fair value | 65,948 | 46,638 |
Available-for-sale, Amortized cost | 78,092 | 64,817 |
Available-for-sale, Gross unrealized gains | 682 | 184 |
Available-for-sale, Gross unrealized losses | (268) | (134) |
Marketable securities | 78,506 | 64,867 |
Corporate Bonds [Member] | ||
Available-for-sale - matures within one year, Amortized cost | 12,486 | 18,224 |
Available-for-sale - matures within one year, Gross unrealized gains | 72 | 16 |
Available-for-sale - matures within one year, Gross unrealized losses | 0 | (11) |
Available-for-sale - matures within one year, Fair value | 12,558 | 18,229 |
Available-for-sale - matures after one year through five years, Amortized cost | 65,606 | 46,593 |
Available-for-sale - matures after one year through five years, Gross unrealized gains | 610 | 168 |
Available-for-sale - matures after one year through five years, Gross unrealized losses | (268) | (123) |
Available-for-sale - matures after one year through five years, Fair value | $ 65,948 | $ 46,638 |
Note 5 - Marketable Securitie_3
Note 5 - Marketable Securities - Summary of Gross Unrealized Losses and Fair Values on Investments (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Less than 12 months, Fair value | $ 34,352 | $ 22,852 |
Less than 12 months, Gross unrealized loss | (233) | (102) |
12 months or greater, Fair value | 4,559 | 14,231 |
12 months or greater, Gross unrealized loss | $ (35) | $ (32) |
Note 5 - Marketable Securitie_4
Note 5 - Marketable Securities - Summary of Gross Realized Gains and Losses from Sale of Available-for-sale Marketable Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Gross realized gains from sale of available-for-sale marketable securities | $ 0 | $ 1 | $ 4 | $ 1 |
Gross realized losses from sale of available-for-sale marketable securities | $ 0 | $ (4) | $ (19) | $ (39) |
Note 6 - Fair Value Measureme_3
Note 6 - Fair Value Measurement - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Marketable securities | $ 78,506 | $ 64,867 |
Foreign exchange contracts | 26 | 56 |
Fair Value, Inputs, Level 1 [Member] | ||
Foreign exchange contracts | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Foreign exchange contracts | 26 | 56 |
Fair Value, Inputs, Level 3 [Member] | ||
Foreign exchange contracts | 0 | |
Corporate Bonds [Member] | ||
Marketable securities | 78,506 | 64,867 |
Corporate Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Marketable securities | 0 | 0 |
Corporate Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Marketable securities | 78,506 | 64,867 |
Corporate Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Marketable securities | $ 0 | $ 0 |
Note 7 - Intangible Assets, N_3
Note 7 - Intangible Assets, Net (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2020 | Sep. 30, 2019 | Mar. 31, 2018 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | ||||
Finite-Lived Intangible Assets, Gross, Total | $ 21,250 | $ 21,250 | $ 21,250 | ||||||
Amortization of Intangible Assets, Total | 575 | $ 757 | 1,732 | $ 1,177 | |||||
NB-IoT technologies [Member] | |||||||||
Finite-lived Intangible Assets Acquired | $ 2,800 | ||||||||
Finite Lived Intangible Assets Acquired, Balance Not Received | 600 | ||||||||
Finite-Lived Intangible Assets, Gross, Total | $ 1,961 | [1] | $ 2,200 | 1,961 | [1] | 1,961 | [1] | ||
Intangible Assets Expenditures Incurred but Not yet Paid | $ 210 | ||||||||
Amortization of Intangible Assets, Total | $ 239 | ||||||||
[1] | During the first quarter of 2018, the Company entered into an agreement to invest in certain NB-IoT technologies in the amount of $2,800, of which, technologies valued at $600 has not been received. Of the $2,200, $210 has not resulted in cash outflows as of September 30, 2020. In addition, the Company participated in programs sponsored by the Hong Kong government for the support of the above investment, and as a result, the Company received during 2019 an amount of $239 related to the NB-IoT technologies, which was reduced from the gross carrying amount of intangible assets. The Company recorded the amortization cost of the NB-IoT technologies in "cost of revenues" on the Company's interim condensed consolidated statements of income (loss). |
Note 7 - Intangible Assets, N_4
Note 7 - Intangible Assets, Net - Schedule of Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands | 9 Months Ended | |||||
Sep. 30, 2020 | Dec. 31, 2019 | Mar. 31, 2018 | ||||
Total intangible assets, Gross Carrying Amount | $ 21,250 | $ 21,250 | ||||
Total intangible assets, Accumulated Amortization | 9,769 | 7,826 | ||||
Intangible assets, net | $ 11,481 | 13,424 | ||||
Customer Relationships [Member] | RivieraWaves [Member] | ||||||
Total intangible assets, Weighted Average Amortization Period (Year) | 4 years 6 months | |||||
Total intangible assets, Gross Carrying Amount | $ 272 | 272 | ||||
Total intangible assets, Accumulated Amortization | 272 | 272 | ||||
Intangible assets, net | $ 0 | 0 | ||||
Customer Relationships [Member] | Acquisition of Hillcrest Labs [Member] | ||||||
Total intangible assets, Weighted Average Amortization Period (Year) | 4 years 4 months 24 days | |||||
Total intangible assets, Gross Carrying Amount | $ 3,518 | 3,518 | ||||
Total intangible assets, Accumulated Amortization | 1,045 | 395 | ||||
Intangible assets, net | $ 2,473 | 3,123 | ||||
Customer Backlog [Member] | RivieraWaves [Member] | ||||||
Total intangible assets, Weighted Average Amortization Period (Year) | 1 year 6 months | |||||
Total intangible assets, Gross Carrying Amount | $ 93 | 93 | ||||
Total intangible assets, Accumulated Amortization | 93 | 93 | ||||
Intangible assets, net | $ 0 | 0 | ||||
Customer Backlog [Member] | Acquisition of Hillcrest Labs [Member] | ||||||
Total intangible assets, Weighted Average Amortization Period (Year) | 6 months | |||||
Total intangible assets, Gross Carrying Amount | $ 72 | 72 | ||||
Total intangible assets, Accumulated Amortization | 72 | 65 | ||||
Intangible assets, net | $ 0 | 7 | ||||
Core Technologies [Member] | Immervision [Member] | ||||||
Total intangible assets, Weighted Average Amortization Period (Year) | 6 years 4 months 24 days | |||||
Total intangible assets, Gross Carrying Amount | $ 7,063 | 7,063 | ||||
Total intangible assets, Accumulated Amortization | 1,299 | 472 | ||||
Intangible assets, net | $ 5,764 | 6,591 | ||||
Core Technologies [Member] | RivieraWaves [Member] | ||||||
Total intangible assets, Weighted Average Amortization Period (Year) | 5 years 1 month 6 days | |||||
Total intangible assets, Gross Carrying Amount | $ 5,796 | 5,796 | ||||
Total intangible assets, Accumulated Amortization | 5,796 | 5,796 | ||||
Intangible assets, net | $ 0 | 0 | ||||
Core Technologies [Member] | Acquisition of Hillcrest Labs [Member] | ||||||
Total intangible assets, Weighted Average Amortization Period (Year) | 7 years 6 months | |||||
Total intangible assets, Gross Carrying Amount | $ 2,475 | 2,475 | ||||
Total intangible assets, Accumulated Amortization | 398 | 150 | ||||
Intangible assets, net | $ 2,077 | 2,325 | ||||
NB-IoT technologies [Member] | ||||||
Total intangible assets, Weighted Average Amortization Period (Year) | [1] | 7 years | ||||
Total intangible assets, Gross Carrying Amount | $ 1,961 | [1] | 1,961 | [1] | $ 2,200 | |
Total intangible assets, Accumulated Amortization | [1] | 794 | 583 | |||
Intangible assets, net | [1] | $ 1,167 | $ 1,378 | |||
[1] | During the first quarter of 2018, the Company entered into an agreement to invest in certain NB-IoT technologies in the amount of $2,800, of which, technologies valued at $600 has not been received. Of the $2,200, $210 has not resulted in cash outflows as of September 30, 2020. In addition, the Company participated in programs sponsored by the Hong Kong government for the support of the above investment, and as a result, the Company received during 2019 an amount of $239 related to the NB-IoT technologies, which was reduced from the gross carrying amount of intangible assets. The Company recorded the amortization cost of the NB-IoT technologies in "cost of revenues" on the Company's interim condensed consolidated statements of income (loss). |
Note 7 - Intangible Assets, N_5
Note 7 - Intangible Assets, Net - Future Amortization Expense (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
2020 | $ 645 | |
2021 | 2,582 | |
2022 | 2,581 | |
2023 | 1,906 | |
2024 | 1,852 | |
2025 and thereafter | 1,915 | |
Total intangible assets | $ 11,481 | $ 13,424 |
Note 8 - Geographic Informati_3
Note 8 - Geographic Information and Major Customer Data (Details Textual) | 9 Months Ended |
Sep. 30, 2020 | |
Number of Reportable Segments | 1 |
Note 8 - Geographic Informati_4
Note 8 - Geographic Information and Major Customer Data - Revenues Based On Customer Location (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Revenues | $ 24,960 | $ 23,471 | $ 72,181 | $ 58,840 |
UNITED STATES | ||||
Revenues | 3,079 | 3,811 | 13,754 | 7,713 |
Europe and Middle East [Member] | ||||
Revenues | 825 | 6,911 | 10,017 | 13,245 |
Asia Pacific [Member] | ||||
Revenues | 21,056 | 12,749 | 48,410 | 37,882 |
GERMANY | ||||
Revenues | 5,425 | 10,613 | ||
CHINA | ||||
Revenues | $ 16,085 | $ 8,993 | $ 37,713 | 25,542 |
JAPAN | ||||
Revenues | $ 6,544 |
Note 8 - Geographic Informati_5
Note 8 - Geographic Information and Major Customer Data - Major Customers Data As Percentage of Total Revenues (Details) - Revenue from Contract with Customer Benchmark [Member] - Customer Concentration Risk [Member] | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | ||
Customer A [Member] | |||||
Percentage of total revenues | 23.00% | 13.00% | 19.00% | ||
Customer B [Member] | |||||
Percentage of total revenues | 18.00% | 15.00% | 12.00% | [1] | 15.00% |
Customer C [Member] | |||||
Percentage of total revenues | 16.00% | 13.00% | [1] | ||
[1] | Less than 10% |
Note 9 - Net Loss Per Share o_3
Note 9 - Net Loss Per Share of Common Stock (Details Textual) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 1,162,650 | 105,901 | 1,162,650 | 1,385,525 |
Note 9 - Net Loss Per Share o_4
Note 9 - Net Loss Per Share of Common Stock - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net income (loss) | $ (739) | $ 775 | $ (3,014) | $ (3,034) |
Basic (in shares) | 22,163 | 21,953 | 22,059 | 21,936 |
Effect of stock -based awards (in shares) | 0 | 451 | 0 | 0 |
Diluted (in shares) | 22,163 | 22,404 | 22,059 | 21,936 |
Basic net income (loss) per share (in dollars per share) | $ (0.03) | $ 0.04 | $ (0.14) | $ (0.14) |
Diluted net income (loss) per share (in dollars per share) | $ (0.03) | $ 0.03 | $ (0.14) | $ (0.14) |
Note 10 - Common Stock and St_3
Note 10 - Common Stock and Stock-based Compensation Plans (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Feb. 20, 2020 | Jul. 19, 2019 | May 07, 2019 | Feb. 19, 2019 | Sep. 30, 2020 | Dec. 31, 2019 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Outstanding Number (in shares) | [2] | 308,252 | [1] | 642,253 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Exercisable Number (in shares) | [2],[3] | 298,752 | ||||||
Projected Revenue Goal | $ 41,000 | |||||||
Non-employee Director [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Annual Vesting, Percentage | 25.00% | |||||||
Maximum [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Outstanding Number (in shares) | 294,814 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Exercisable Number (in shares) | 285,314 | |||||||
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% | |||||||
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 (Month) | 36 months | |||||||
Stock Options and SARs [Member] | ||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 1 | |||||||
Restricted Stock Units (RSUs) [Member] | Acquisition of Hillcrest Labs [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Remaining Vesting Period (Month) | 24 months | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 52,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Employees Granted Shares (in shares) | 22 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 25.41 | |||||||
Restricted Stock Units (RSUs) [Member] | Restricted Stock Units Vesting After One Year [Member] | Acquisition of Hillcrest Labs [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 34.00% | |||||||
Restricted Stock Units (RSUs) [Member] | Chief Executive Officer [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | 3 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 10,000 | 30,000 | ||||||
Restricted Stock Units (RSUs) [Member] | Chief Executive Officer [Member] | Vesting on February 19, 2021 [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||||
Restricted Stock Units (RSUs) [Member] | Chief Executive Officer [Member] | Vesting on February 19, 2020 [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||||
Restricted Stock Units (RSUs) [Member] | Chief Executive Officer [Member] | Vesting on February 19, 2022 [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||||
Performance Share Units [Member] | Chief Executive Officer [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 24,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Number to Be Granted If 100% License Revenue Target is Met (in shares) | 20,000 | 23,200 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Percentage of License Revenue Target, Proportional Percentage to Be Received upon Achievement | 116.00% | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Proportional Percentage to Be Received for Each Increase of 1 Percent Beyond the License Revenue Target | 1.00% | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Ceiling as a Percentage of Baseline Number to Be Granted if the License Revenue Target is Exceeded | 120.00% | |||||||
Performance Share Units [Member] | Key Employees [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 18,500 | |||||||
Performance Share Units [Member] | Key Employees [Member] | PSUs Vesting After One Year [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 24 months | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 34.00% | |||||||
Performance Share Units [Member] | Key Employees [Member] | Key Employees PSUs Goals One [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | |||||||
Performance Share Units [Member] | Key Employees [Member] | Key Employees PSUs Goals Two [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 30.00% | |||||||
Performance Share Units [Member] | Key Employees [Member] | Key Employees PSUs Goals Three [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||||||
Performance Share Units [Member] | Maximum [Member] | Chief Executive Officer [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Percentage of License Revenue Target, Proportional Percentage to Be Received upon Achievement | 99.00% | |||||||
Performance Share Units [Member] | Minimum [Member] | Chief Executive Officer [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Percentage of License Revenue Target, Proportional Percentage to Be Received upon Achievement | 90.00% | |||||||
Short-Term Executive PSUs [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Addtional Shares Issuable, Performance Goals Exceeded, Percentage | 20.00% | |||||||
Short-Term Executive PSUs [Member] | Goals One [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | |||||||
Short-Term Executive PSUs [Member] | Goals Two [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | |||||||
Short-Term Executive PSUs [Member] | Vesting on February 20, 2021 [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.40% | |||||||
Short-Term Executive PSUs [Member] | Vesting on February 22, 2022 [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.30% | |||||||
Short-Term Executive PSUs [Member] | Vesting on February 20, 2023 [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.30% | |||||||
Short-Term Executive PSUs [Member] | Chief Executive Officer [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 17,045 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Addtional Shares Issuable, Performance Goals Exceeded (in shares) | 3,410 | |||||||
Short-Term Executive PSUs [Member] | Executive Vice President, Worldwide Sales [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 5,113 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Addtional Shares Issuable, Performance Goals Exceeded (in shares) | 1,023 | |||||||
Short-Term Executive PSUs [Member] | Chief Financial Officer [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 4,545 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Addtional Shares Issuable, Performance Goals Exceeded (in shares) | 909 | |||||||
Short-Term Executive PSUs [Member] | Chief Operating Officer [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 4,545 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Addtional Shares Issuable, Performance Goals Exceeded (in shares) | 909 | |||||||
Long-term PSUs [Member] | ||||||||
Performance Goal, Minimum Market Cap for at Lease 30 Trading Days | $ 1,000,000 | |||||||
Long-term PSUs [Member] | Chief Executive Officer [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 56,818 | |||||||
Long-term PSUs [Member] | Executive Vice President, Worldwide Sales [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 35,511 | |||||||
Long-term PSUs [Member] | Chief Financial Officer [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 28,409 | |||||||
Long-term PSUs [Member] | Chief Operating Officer [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 28,409 | |||||||
RSUs and PSUs [Member] | ||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 16,431 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 466,921 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 29.17 | |||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 6 months | |||||||
[1] | Due to the ceiling imposed on the SAR grants, the outstanding amount equals a maximum of 294,814 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 285,314 shares of the Company's common stock issuable upon exercise. |
Note 10 - Common Stock and St_4
Note 10 - Common Stock and Stock-based Compensation Plans - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2020 | Dec. 31, 2019 | |||
Outstanding, Number of shares (in shares) | [1] | 642,253 | ||
Outstanding, Weighted average exercise price (in dollars per share) | $ 20.14 | |||
Outstanding, Weighted average remaining contractual term (Year) | 3 years 8 months 12 days | [2] | 3 years 6 months | |
Outstanding, Aggregated intrinsic value | $ 5,349 | [2] | $ 4,718 | |
Granted, Number of shares (in shares) | [1] | 0 | ||
Exercised, Number of shares (in shares) | [1] | (333,980) | ||
Exercised, Weighted average exercise price (in dollars per share) | $ 18.42 | |||
Forfeited or expired, Number of shares (in shares) | [1] | (21) | ||
Forfeited or expired, Weighted average exercise price (in dollars per share) | $ 16.20 | |||
Outstanding, Number of shares (in shares) | [1] | 308,252 | [2] | 642,253 |
Outstanding, Weighted average exercise price (in dollars per share) | $ 22.02 | [2] | $ 20.14 | |
Exercisable, Number of shares (in shares) | [1],[3] | 298,752 | ||
Exercisable, Weighted average exercise price (in dollars per share) | [3] | $ 21.74 | ||
Exercisable, Weighted average remaining contractual term (Year) | [3] | 3 years 7 months 6 days | ||
Exercisable, Aggregated intrinsic value | [3] | $ 5,266 | ||
[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 294,814 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 285,314 shares of the Company's common stock issuable upon exercise. |
Note 10 - Common Stock and St_5
Note 10 - Common Stock and Stock-based Compensation Plans - Summary of Restricted Stock Units Activity (Details) - RSUs and PSUs [Member] | 9 Months Ended |
Sep. 30, 2020$ / sharesshares | |
Unvested, number (in shares) | shares | 732,564 |
Unvested, weighted average fair value (in dollars per share) | $ / shares | $ 30.11 |
Granted, number (in shares) | shares | 466,921 |
Granted, weighted average fair value (in dollars per share) | $ / shares | $ 29.17 |
Vested, number (in shares) | shares | (301,792) |
Vested, weighted average fair value (in dollars per share) | $ / shares | $ 31.33 |
Forfeited or expired, number (in shares) | shares | (43,295) |
Forfeited or expired, weighted average fair value (in dollars per share) | $ / shares | $ 29.82 |
Unvested, number (in shares) | shares | 854,398 |
Unvested, weighted average fair value (in dollars per share) | $ / shares | $ 29.18 |
Note 10 - Common Stock and St_6
Note 10 - Common Stock and Stock-based Compensation Plans - Equity-based Compensation Expense Included in Interim Condensed Consolidated Statements of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Total equity-based compensation expense | $ 3,546 | $ 2,752 | $ 10,070 | $ 7,847 |
Cost of Revenues [Member] | ||||
Total equity-based compensation expense | 159 | 168 | 473 | 464 |
Research and Development, Net [Member] | ||||
Total equity-based compensation expense | 1,770 | 1,494 | 5,115 | 4,314 |
Sales and Marketing [Member] | ||||
Total equity-based compensation expense | 533 | 362 | 1,496 | 1,112 |
General and Administrative [Member] | ||||
Total equity-based compensation expense | $ 1,084 | $ 728 | $ 2,986 | $ 1,957 |
Note 10 - Common Stock and St_7
Note 10 - Common Stock and Stock-based Compensation Plans - Valuation Assumptions (Details) - Employee Stock Purchase Plan [Member] | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Expected dividend yield | 0.00% | 0.00% | 0.00% | 0.00% |
Expected volatility, minimum | 37.00% | 32.00% | 42.00% | |
Expected volatility, maximum | 60.00% | 60.00% | 43.00% | |
Expected volatility | 42.00% | |||
Risk-free interest rate, minimum | 0.10% | 0.10% | 2.00% | |
Risk-free interest rate, maximum | 1.80% | 1.90% | 2.50% | |
Risk-free interest rate | 2.00% | |||
Contractual term of up to (Month) | 24 months | 24 months | 24 months | 24 months |
Note 11 - Derivatives and Hed_3
Note 11 - Derivatives and Hedging Activities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Derivative, Notional Amount | $ 5,000 | $ 5,000 | $ 5,500 | ||
Derivative, Gain (Loss) on Derivative, Net, Total | $ 352 | $ 117 | $ 514 | $ 304 |
Note 11 - Derivatives and Hed_4
Note 11 - Derivatives and Hedging Activities - Fair Value of Outstanding Derivative Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Derivative Assets | $ 26 | $ 56 |
Derivatives Designated as Cash Flow Hedging Instruments [Member] | Foreign Exchange Option Contracts [Member] | ||
Derivative Assets | 3 | 14 |
Derivatives Designated as Cash Flow Hedging Instruments [Member] | Foreign Exchange Forward Contracts [Member] | ||
Derivative Assets | $ 23 | $ 42 |
Note 11 - Derivatives and Hed_5
Note 11 - Derivatives and Hedging Activities - Effective Portion of the Gains and Losses on Derivative Instruments Designated (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Gain (loss) recognized in other comprehensive income (loss), Effective portion, Net, Total | $ 127 | $ 83 | $ 484 | $ 401 |
Derivatives Designated as Cash Flow Hedging Instruments [Member] | ||||
Gain (loss) recognized in other comprehensive income (loss), Effective portion, Net, Total | 127 | 83 | 484 | 401 |
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 | 3 | 33 | (22) | 62 |
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 | $ 124 | $ 50 | $ 506 | $ 339 |
Note 11 - Derivatives and Hed_6
Note 11 - 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 | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total | $ (352) | $ (117) | $ (514) | $ (304) |
Foreign Exchange Option Contracts [Member] | ||||
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total | 0 | (27) | 11 | (34) |
Foreign Exchange Forward Contracts [Member] | ||||
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total | $ (352) | $ (90) | $ (525) | $ (270) |
Note 12 - Accumulated Other C_3
Note 12 - Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Balances of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Balance | $ 252,381 | $ 244,645 | $ 251,157 | $ 245,879 |
Balance | 256,571 | 249,360 | 256,571 | 249,360 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | ||||
Balance | 212 | 17 | 45 | (1,046) |
Other comprehensive income before reclassifications | 126 | (60) | 282 | 977 |
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 3 | 11 | 29 |
Net current period other comprehensive income (loss) | 126 | (57) | 293 | 1,006 |
Balance | 338 | (40) | 338 | (40) |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||
Balance | 221 | 47 | 49 | (68) |
Other comprehensive income before reclassifications | 111 | 74 | 426 | 354 |
Amounts reclassified from accumulated other comprehensive income (loss) | (309) | (103) | (452) | (268) |
Net current period other comprehensive income (loss) | (198) | (29) | (26) | 86 |
Balance | 23 | 18 | 23 | 18 |
AOCI Attributable to Parent [Member] | ||||
Balance | 433 | 64 | 94 | (1,114) |
Other comprehensive income before reclassifications | 237 | 14 | 708 | 1,331 |
Amounts reclassified from accumulated other comprehensive income (loss) | (309) | (100) | (441) | (239) |
Net current period other comprehensive income (loss) | (72) | (86) | 267 | 1,092 |
Balance | $ 361 | $ (22) | $ 361 | $ (22) |
Note 12 - Accumulated Other C_4
Note 12 - Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Cost of revenues | $ (2,503) | $ (2,767) | $ (8,259) | $ (7,283) |
Research and development | (15,603) | (13,873) | (45,695) | (38,593) |
Sales and marketing | 2,711 | 2,832 | 8,772 | 8,809 |
General and administrative | (3,566) | (3,509) | (10,893) | (8,360) |
Total, before income taxe | 1,022 | 336 | (481) | (3,083) |
Income tax expense (benefit) | 1,761 | (439) | 2,533 | (49) |
Net loss | (739) | 775 | (3,014) | (3,034) |
Financial income, net | 1,020 | 603 | 2,689 | 2,299 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Net loss | 309 | 100 | 441 | 239 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Gains (Losses) on Cash Flow Hedges [Member] | ||||
Cost of revenues | 7 | 1 | 10 | 5 |
Research and development | 312 | 104 | 454 | 269 |
Sales and marketing | 10 | 3 | 15 | 8 |
General and administrative | 23 | 9 | 35 | 22 |
Total, before income taxe | 352 | 117 | 514 | 304 |
Income tax expense (benefit) | 43 | 14 | 62 | 36 |
Net loss | 309 | 103 | 452 | 268 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Gains (Losses) on Available-for-sale Marketable Securities [Member] | ||||
Income tax expense (benefit) | 0 | 0 | (4) | (9) |
Net loss | 0 | (3) | (11) | (29) |
Financial income, net | $ 0 | $ (3) | $ (15) | $ (38) |
Note 13 - Share Repurchase Pr_2
Note 13 - Share Repurchase Program (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Feb. 29, 2020 | |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares) | 700,000 | ||||
Treasury Stock, Shares, Acquired (in shares) | 0 | 0 | 202,392 | 194,316 | |
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ 23.62 | $ 25.01 | |||
Treasury Stock Value Acquired Weighted Average Method | $ 4,780 | $ 4,861 | |||
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares) | 497,608 | 497,608 |