Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Feb. 23, 2022 | Jun. 30, 2021 | |
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 | FY | ||
Document Fiscal Year Focus | 2021 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2021 | ||
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 Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 787,381,106 | ||
Entity Common Stock, Shares Outstanding | 23,204,024 | ||
Auditor Name | KOST FORER GABBAY & KASIERER | ||
Auditor Location | Tel-Aviv, Israel | ||
Auditor Firm ID | 42 | ||
ICFR Auditor Attestation Flag | true |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 33,153 | $ 21,143 |
Short-term bank deposits | 31,410 | 20,233 |
Marketable securities | 90,298 | 88,754 |
Trade receivables (net of allowance for credit losses of $300 and $288 at December 31, 2020 and December 31, 2021, respectively) | 27,449 | 31,224 |
Prepaid expenses and other current assets | 6,670 | 6,205 |
Total current assets | 188,980 | 167,559 |
Long-term assets: | ||
Bank deposits | 0 | 29,529 |
Severance pay fund | 10,175 | 10,535 |
Deferred tax assets, net | 15,850 | 10,826 |
Property and equipment, net | 6,765 | 7,586 |
Operating lease right-of-use assets | 8,827 | 9,052 |
Goodwill | 74,777 | 51,070 |
Intangible assets, net | 14,607 | 10,836 |
Investments in marketable equity securities | 2,919 | 936 |
Other long-term assets | 5,759 | 9,023 |
Total long-term assets | 139,679 | 139,393 |
Total assets | 328,659 | 306,952 |
Current liabilities: | ||
Trade payables | 1,464 | 894 |
Deferred revenues | 8,661 | 2,434 |
Accrued expenses and other payables | 4,030 | 3,843 |
Accrued payroll and related benefits | 18,011 | 18,040 |
Operating lease liabilities | 3,274 | 2,969 |
Total current liabilities | 35,440 | 28,180 |
Long-term liabilities: | ||
Accrued severance pay | 10,551 | 11,226 |
Operating lease liabilities | 5,130 | 5,772 |
Other accrued liabilities | 806 | 885 |
Total long-term liabilities | 16,487 | 17,883 |
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 December 31, 2020 and 2021; 22,260,917 and 22,984,552 shares outstanding at December 31, 2020 and 2021, respectively | 23 | 22 |
Additional paid in-capital | 235,386 | 233,172 |
Treasury stock at cost (1,334,243 and 610,608 shares of common stock at December 31, 2020 and 2021, respectively) | (13,790) | (30,133) |
Accumulated other comprehensive income (loss) | (372) | 478 |
Retained earnings | 55,485 | 57,350 |
Total stockholders’ equity | 276,732 | 260,889 |
Total liabilities and stockholders’ equity | $ 328,659 | $ 306,952 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Allowance for doubtful accounts | $ 288 | $ 300 |
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) | 22,984,552 | 22,260,917 |
Treasury stock, shares (in shares) | 610,608 | 1,334,243 |
Consolidated Statements of Inco
Consolidated Statements of Income (Loss) - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenues: | |||
Revenues | $ 122,706 | $ 100,326 | $ 87,152 |
Cost of revenues | 16,827 | 10,749 | 10,106 |
Gross profit | 105,879 | 89,577 | 77,046 |
Operating expenses: | |||
Research and development, net | 72,504 | 62,010 | 52,843 |
Sales and marketing | 12,861 | 11,907 | 12,363 |
General and administrative | 14,296 | 14,116 | 11,841 |
Amortization of intangible assets | 2,710 | 2,307 | 1,923 |
Total operating expenses | 102,371 | 90,340 | 78,970 |
Operating income (loss) | 3,508 | (763) | (1,924) |
Financial income, net | 197 | 3,284 | 3,291 |
Remeasurement of marketable equity securities | 1,983 | 0 | 0 |
Income before taxes on income | 5,688 | 2,521 | 1,367 |
Taxes on income | 5,292 | 4,900 | 1,339 |
Net income (loss) | $ 396 | $ (2,379) | $ 28 |
Basic net income (loss) per share (in dollars per share) | $ 0.02 | $ (0.11) | $ 0 |
Diluted net income (loss) per share (in dollars per share) | $ 0.02 | $ (0.11) | $ 0 |
Weighted average shares used to compute net income (loss) per share (in thousands): | |||
Basic (in shares) | 22,819 | 22,107 | 21,932 |
Diluted (in shares) | 23,251 | 22,107 | 22,323 |
License [Member] | |||
Revenues: | |||
Revenues | $ 72,827 | $ 52,513 | $ 47,890 |
Royalty [Member] | |||
Revenues: | |||
Revenues | $ 49,879 | $ 47,813 | $ 39,262 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Net income (loss) | $ 396 | $ (2,379) | $ 28 |
Available-for-sale securities: | |||
Changes in unrealized gains (losses) | (1,150) | 548 | 1,245 |
Reclassification adjustments included in net income (loss) | (13) | 6 | 28 |
Net change | (1,163) | 554 | 1,273 |
Cash flow hedges: | |||
Changes in unrealized gains (losses) | 228 | 632 | 440 |
Reclassification adjustments included in net income (loss) | (165) | (688) | (307) |
Net change | 63 | (56) | 133 |
Other comprehensive income (loss) before tax | (1,100) | 498 | 1,406 |
Income tax expense (benefit) related to components of other comprehensive income (loss) | (250) | 114 | 198 |
Other comprehensive income (loss), net of taxes | (850) | 384 | 1,208 |
Comprehensive income (loss) | $ (454) | $ (1,995) | $ 1,236 |
Statements of Changes in Stockh
Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | AOCI Attributable to Parent [Member] | Common Stock Outstanding [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | Total | |
Balance (in shares) at Dec. 31, 2018 | 21,787,860 | ||||||
Balance at Dec. 31, 2018 | $ (1,114) | $ 22 | $ 223,250 | $ (39,132) | $ 62,853 | $ 245,879 | |
Net income (loss) | 0 | 0 | 0 | 0 | 28 | 28 | |
Other comprehensive income | 1,208 | $ 0 | 0 | 0 | 0 | 1,208 | |
Equity-based compensation | 10,718 | 10,718 | |||||
Purchase of treasury stock (in shares) | (355,180) | ||||||
Purchase of treasury stock | 0 | $ 0 | 0 | (9,113) | 0 | (9,113) | |
Issuance of treasury stock upon exercise of stock-based awards (in shares) | 406,689 | ||||||
Issuance of treasury stock upon exercise of stock-based awards | $ 0 | (5,963) | 8,855 | (455) | 2,437 | ||
Net income (loss) | 0 | $ 0 | 0 | 0 | 28 | 28 | |
Equity-based compensation | 10,718 | 10,718 | |||||
Balance (in shares) at Dec. 31, 2019 | 21,839,369 | ||||||
Balance at Dec. 31, 2019 | 94 | $ 22 | 228,005 | (39,390) | 62,426 | 251,157 | |
Net income (loss) | (2,379) | (2,379) | |||||
Other comprehensive income | 384 | 0 | 0 | 0 | 0 | 384 | |
Equity-based compensation | 0 | $ 0 | 13,636 | 0 | 0 | 13,636 | |
Purchase of treasury stock (in shares) | (202,392) | ||||||
Purchase of treasury stock | 0 | $ 0 | 0 | (4,780) | 0 | (4,780) | |
Issuance of treasury stock upon exercise of stock-based awards (in shares) | 623,940 | ||||||
Issuance of treasury stock upon exercise of stock-based awards | 0 | $ 0 | (8,469) | 14,037 | (2,697) | 2,871 | |
Net income (loss) | (2,379) | (2,379) | |||||
Equity-based compensation | 0 | $ 0 | 13,636 | 0 | 0 | 13,636 | |
Balance (in shares) at Dec. 31, 2020 | 22,260,917 | ||||||
Balance at Dec. 31, 2020 | 478 | $ 22 | 233,172 | (30,133) | 57,350 | 260,889 | |
Accumulated other comprehensive loss, net as of December 31, 2021 | 478 | ||||||
Net income (loss) | 0 | 0 | 0 | 0 | 396 | 396 | |
Other comprehensive income | (850) | (850) | |||||
Equity-based compensation | 0 | $ 0 | 13,055 | 0 | 0 | 13,055 | |
Issuance of treasury stock upon exercise of stock-based awards (in shares) | 723,635 | ||||||
Issuance of treasury stock upon exercise of stock-based awards | 0 | $ 1 | (10,841) | 16,343 | (2,261) | 3,242 | |
Net income (loss) | 0 | 0 | 0 | 0 | 396 | 396 | |
Equity-based compensation | 0 | $ 0 | 13,055 | 0 | 0 | 13,055 | |
Balance (in shares) at Dec. 31, 2021 | 22,984,552 | ||||||
Balance at Dec. 31, 2021 | $ (372) | [1] | $ 23 | $ 235,386 | $ (13,790) | $ 55,485 | 276,732 |
Accumulated unrealized loss from available-for-sale securities, net of taxes of $132 | (427) | ||||||
Accumulated unrealized gain from hedging activities, net of taxes of $8 | 55 | ||||||
Accumulated other comprehensive loss, net as of December 31, 2021 | $ (372) | ||||||
[1] | Accumulated unrealized loss from available-for-sale securities, net of taxes of $132 $ (427) Accumulated unrealized gain from hedging activities, net of taxes of $8 $ 55 Accumulated other comprehensive loss, net as of December 31, 2021 $ (372) |
Statements of Changes in Stoc_2
Statements of Changes in Stockholders' Equity (Parentheticals) $ in Thousands | Dec. 31, 2021USD ($) |
Accumulated unrealized loss from available-for-sale securities, taxes | $ 132 |
Accumulated unrealized gain from hedging activities, taxes | $ 8 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | |||
Net income (loss) | $ 396 | $ (2,379) | $ 28 |
Adjustments required to reconcile net income (loss) to net cash provided by operating activities: | |||
Depreciation | 3,184 | 3,233 | 3,104 |
Amortization of intangible assets | 3,801 | 2,588 | 2,165 |
Equity-based compensation | 13,055 | 13,636 | 10,718 |
Realized loss (gain), net on sale of available-for-sale marketable securities | (13) | 6 | 28 |
Amortization of premiums on available-for-sale marketable securities | 420 | 444 | 554 |
Unrealized foreign exchange (gain) loss, net | 1,163 | (591) | 249 |
Remeasurement of marketable equity securities | (1,983) | 0 | 0 |
Changes in operating assets and liabilities: | |||
Trade receivables, net | 5,842 | (2,917) | (2,151) |
Prepaid expenses and other assets | 3,604 | (559) | (4,170) |
Operating lease right-of-use assets | 225 | 2,014 | (1,281) |
Accrued interest on bank deposits | (65) | 1,186 | (161) |
Deferred taxes, net | (6,305) | (335) | (3,594) |
Trade payables | 404 | 186 | 53 |
Deferred revenues | 5,053 | (1,208) | 85 |
Accrued expenses and other payables | (1,737) | 133 | (131) |
Accrued payroll and related benefits | (875) | 1,803 | 3,056 |
Operating lease liability | (232) | (2,183) | 1,166 |
Income taxes payable | 189 | 143 | (53) |
Accrued severance pay, net | (322) | (37) | 9 |
Net cash provided by operating activities | 25,804 | 15,163 | 9,674 |
Cash flows from investing activities: | |||
Acquisition of a business, net of cash acquired (see note 1) | (29,891) | 0 | (11,000) |
Purchase of property and equipment | (2,193) | (2,935) | (3,461) |
Purchase of intangible assets | 0 | 0 | (7,364) |
Investment in bank deposits | (1,500) | (43,893) | (39,346) |
Proceeds from bank deposits | 19,989 | 55,393 | 45,435 |
Investment in available-for-sale marketable securities | (39,192) | (56,011) | (27,184) |
Proceeds from maturity of available-for-sale marketable securities | 26,043 | 21,956 | 3,888 |
Proceeds from sale of available-for-sale marketable securities | 10,035 | 10,272 | 36,589 |
Net cash used in investing activities | (16,709) | (15,218) | (2,443) |
Cash flows from financing activities: | |||
Purchase of treasury stock | 0 | (4,780) | (9,113) |
Payment of contingent consideration liability | 0 | (204) | 0 |
Proceeds from exercise of stock-based awards | 3,242 | 2,871 | 2,437 |
Net cash provided by (used in) financing activities | 3,242 | (2,113) | (6,676) |
Effect of exchange rate changes on cash and cash equivalents | (327) | 508 | (12) |
Increase (decrease) in cash and cash equivalents | 12,010 | (1,660) | 543 |
Cash and cash equivalents at the beginning of the year | 21,143 | 22,803 | 22,260 |
Cash and cash equivalents at the end of the year | 33,153 | 21,143 | 22,803 |
Supplemental information of cash-flows activities: | |||
Income and withholding taxes | 9,183 | 4,727 | 5,063 |
Non-cash transactions: | |||
Property and equipment purchases incurred but unpaid at the end of the year | 59 | 5 | 21 |
Right-of-use assets obtained in the exchange for operating lease liabilities | $ 2,679 | $ 6,787 | $ 2,493 |
Note 1 - Organization and Signi
Note 1 - Organization and Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | NOTE 1: Organization: CEVA, Inc. (“CEVA” or the “Company”) was incorporated in Delaware on November 22, 1999. November 2002. no CEVA licenses a family of wireless connectivity and smart sensing technologies and integrated IP solutions. The Company’s offerings include Digital Signal Processors, AI processors, wireless platforms and complementary software for sensor fusion, image enhancement, computer vision, voice input and artificial intelligence, all of which are key enabling technologies for a smarter, more secure and more connected world. These technologies are offered in combination with Intrinsix IP integration services, helping customers address their most complex and time-critical integrated circuit design projects. CEVA’s DSP-based solutions include platforms for 5G 4/5/6/6E 802.11n/ac/ax CEVA’s recently acquired Intrinsix Corp. (“Intrinsix”) business expands its market reach to the aerospace and defense markets and allows it to offer integrated IP solutions that combine CEVA’s standardized, off-the-shelf IP together with Intrinsix’s non-recurring engineering (“NRE”) design capabilities and IP in RF, mixed-signal, security, high complexity digital design, chiplets and more. 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 mobile, consumer, automotive, robotics, industrial, aerospace & defense and IoT companies for incorporation into a wide variety of end products. Acquisitions: In July 2019, first 2020, In addition, the Company incurred acquisition-related expenses associated with the Hillcrest Labs transaction in a total amount of $462, which were included in general and administrative expenses for the year ended December 31, 2019. Goodwill generated from this business combination is attributed to synergies between the Company's and Hillcrest Lab's respective products and services. The results of Hillcrest Labs’ operations have been included in the consolidated financial statements since July 19, 2019. not not The purchase price allocation for the acquisition has been determined as follows: Tangible assets (including inventory, property and equipment and other) $ 681 Intangible assets: R&D tools 2,475 Customer relationships 3,518 Customer backlog 72 Goodwill 4,458 Total assets $ 11,204 The acquisition of the Hillcrest Labs business has been accounted in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 805, 805” In August 2019, The consideration for the investment has been determined as follows: Prepaid expenses $ 2,937 Intangible assets: R&D tools 7,063 Total assets $ 10,000 On May 31, 2021, ( 100% May 9, 2021 ( third 2021. twenty-four 24 In addition, the Company incurred acquisition-related costs in an amount of $970, which were included in general and administrative expenses for the year ended December 31, 2021. The acquisition has been accounted in accordance with FASB Accounting Standards Codification (“ASC”) No. 805, The results of operations of the combined business, including the acquired business, have been included in the consolidated financial statements as of the closing date. The primary rationale for this acquisition was ( 1 2 3 The purchase price allocation for the acquisition has been determined as follows: Assets Net assets (including cash in the amount of $ 600 $ 872 Intangible assets 7,572 Goodwill 23,707 Total assets $ 32,151 Liabilities Deferred tax liabilities $ 1,660 Total liabilities $ 1,660 Total $ 30,491 The fair value and weighted average estimated useful life of the acquired intangible assets are as follows: Identifiable Intangible Assets Estimated Fair Value Weighted-Average Estimated Useful Life in Years Customer relationships $ 3,604 5.5 Customer backlog 421 1.5 Technologies 3,329 3.0 Patents 218 5.0 Total identifiable intangible assets $ 7,572 The following unaudited pro forma financial information presents combined results of operations for the periods presented, as if the Company had completed the acquisition on January 1, 2020. not Year ended December 31 2020 2021 Pro forma total revenues $ 122,048 $ 131,397 Pro forma net loss (3,837 ) (1,707 ) The intangible assets are amortized based on the pattern upon which the economic benefits of the intangible assets are to be utilized. Basis of presentation: The consolidated financial statements have been prepared according to U.S Generally Accepted Accounting Principles (“U.S. GAAP”). Recently Adopted Accounting Pronouncements: In December 2019, No. 2019 12, 740 2019 12 2019 12 December 15, 2020. not Use of estimates : The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company’s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The novel coronavirus (“COVID- 19” may 19 no December 31, 2021. may Financial statements in U.S. dollars : A majority of the revenues of the Company and its subsidiaries is generated in U.S. dollars (“dollars”). In addition, a portion of the Company and its subsidiaries’ costs are incurred in dollars. The Company’s management has determined that the dollar is the primary currency of the economic environment in which the Company and its subsidiaries principally operate. Thus, the functional and reporting currency of the Company and its subsidiaries is the dollar. Accordingly, monetary accounts maintained in currencies other than the dollar are remeasured into dollars in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 830, Principles of consolidation : The consolidated financial statements incorporate the financial statements of the Company and all of its subsidiaries. All inter-company balances and transactions have been eliminated on consolidation. Cash equivalents : Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three Short-term bank deposits : Short-term bank deposits are deposits with maturities of more than three one 2019, 2020 2021, Marketable securities : Marketable securities consist mainly of corporate bonds. The Company determines the appropriate classification of marketable securities at the time of purchase and re-evaluates such designation at each balance sheet date. In accordance with FASB ASC No. 320 may one The Company determines realized gains or losses on sale of marketable securities on a specific identification method and records such gains or losses as financial income, net. Starting on January 1, 2020, 326, twelve December 31, 2020 2021 Prior to 2020, not 2019. Long-term bank deposits : Long-term bank deposits are deposits with maturities of more than one 2019, 2020 2021, Trade receivables 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 Property and equipment, net : Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets, at the following annual rates: % Computers, software and equipment 10 - 33 Office furniture and equipment 7 - 33 Leasehold improvements 10 - 20 (the shorter of the expected lease term or useful economic life) The Company’s long-lived assets are reviewed for impairment in accordance with FASB ASC No. 360 10 35, may not An asset to be disposed is reported at the lower of its carrying amount or fair value less selling costs. No impairment was recorded in 2019, 2020 2021. Leases : Effective as of January 1, 2019, 842, 842 January 1, 2019, 842. The Company elected the package of practical expedients permitted under the transition guidance, which allowed the Company to carryforward the historical lease classification, the Company’s assessment on whether a contract was or contained a lease, and initial direct costs for any leases that existed prior to January 1, 2019. As a result of the adoption of Topic 842 January 1, 2019, not The Company determines if an arrangement is a lease at inception. The Company’s assessment is based on: ( 1 2 3 Leases are classified as either finance leases or operating leases. A lease is classified as a finance lease if any one no not one not ROU assets and liabilities are recognized on the commencement date based on the present value of remaining lease payments over the lease term. For this purpose, the Company considers only payments that are fixed and determinable at the time of commencement. As most of the Company's leases do not may The Company elected to not twelve Goodwill : Goodwill is carried at cost and is not October 1st The Company operates in one May 2021, one two two ASC 350 first not not no not not No. 2017 04, 350 January 1, 2020. 2017 04, not two three December 31, 2021, Intangible assets, net : Acquired intangible assets with finite lives are amortized over their estimated useful lives. The Company amortizes intangible assets with finite lives over periods ranging from half a year to seven Intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not not December 31, 2019, 2020 2021. Investments in marketable equity securities: The Company holds an equity interest in Cipia Vision Ltd (CPIA.TA) ("Cipia"). For the years ended December 31, 2019 2020, not December 31, 2019 2020, 321. In November 2021, no December 31, 2021, $ 1,983 Revenue recognition : The following is a description of principal activities from which the Company generates revenue. Revenues are recognized when control of the promised goods or services are transferred to the customers in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company determines revenue recognition through the following steps: ● identification of the contract with a customer; ● identification of the performance obligations in the contract; ● determination of the transaction price; ● allocation of the transaction price to the performance obligations in the contract; and ● recognition of revenue when, or as, the Company satisfies a performance obligation. The Company enters into contracts that can include various combinations of products and services, as detailed below, which are generally capable of being distinct and accounted for as separate performance obligations. The Company generates its revenues from ( 1 2 3 The Company accounts for its IP license revenues and related services, which provide the Company's customers with rights to use the Company's IP, in accordance with ASC 606. may 606, Most of the Company’s contracts with customers contain multiple performance obligations. For these contracts, the Company accounts for individual performance obligations separately, if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. Standalone selling prices of IP license are typically estimated using the residual approach. Standalone selling prices of services are typically estimated based on observable transactions when these services are sold on a standalone basis. When contracts involve a significant financing component, the Company adjusts the promised amount of consideration for the effects of the time value of money if the timing of payments agreed to by the parties to the contract (either explicitly or implicitly) provide the customer with a significant benefit of financing, unless the financing period is under one 606. Revenues from contracts that involve significant customization of the Company’s IP to customer-specific specifications are performance obligations the Company generally accounts for as performance obligations satisfied over time. The Company’s performance obligation does not first Revenues that are derived from the sale of a licensee’s products that incorporate the Company’s IP are classified as royalty revenues. Royalty revenues are recognized during the quarter in which the sale of the product incorporating the Company’s IP occurs. Royalties are calculated either as a percentage of the revenues received by the Company’s licensees on sales of products incorporating the Company’s IP or on a per unit basis, as specified in the agreements with the licensees. For a majority of the Company’s royalty revenues, the Company receives the actual sales data from its customers after the quarter ends and accounts for it as unbilled receivables. When the Company does not The Company recently acquired Intrinsix, which derives revenues primarily from NRE payments. Revenues that are derived from NRE payments are performance obligations that are recognized over time as the services are rendered. For time-and-materials contracts, the performance obligation is satisfied, and revenue is recognized over time as the services are performed. Generally, contracts call for billings on a time-and-materials basis; however, in instances when a fixed-fee contract is signed, revenue is recognized over time, based on an input method of labor costs expended, relative to total expected labor costs to complete the contract. In addition to license and NRE fees, contracts with customers generally contain an agreement to provide for training and post contract support, which consists of telephone or e-mail support, correction of errors (bug fixing) and unspecified updates and upgrades. Fees for post contract support, which takes place after delivery to the customer, are specified in the contract and are generally mandatory for the first may twelve Revenues from the sale of development systems and chips are recognized when control of the promised goods or services are transferred to the customers. Deferred revenues, which represent a contract liability, include unearned amounts received under license and NRE agreements, unearned technical support and amounts paid by customers not The Company capitalizes sales commission as costs of obtaining a contract when they are incremental and, if they are expected to be recovered, amortized in a manner consistent with the pattern of transfer of the good or service to which the asset relates. If the expected amortization period is one Cost of revenue : Cost of revenue includes the costs of products, services and royalty expense payments to the Israeli Innovation Authority of the Ministry of Economy and Industry in Israel (the “IIA“) (refer to Note 16 Income taxes : The Company recognizes income taxes under the liability method. It recognizes deferred income tax assets and liabilities for the expected future consequences of temporary differences between the financial reporting and tax bases of assets and liabilities. These differences are measured using the enacted statutory tax rates that are expected to apply to taxable income for the years in which differences are expected to reverse. The effect of a change in tax rates on deferred income taxes is recognized in the statements of income (loss) during the period that includes the enactment date. Valuation allowance is recorded to reduce the deferred tax assets to the net amount that the Company believes is more likely than not The Company accounts for uncertain tax positions in accordance with ASC 740. 740 10 two first not second 50% Research and development : Research and development costs are charged to the consolidated statements of income (loss) as incurred. Government grants and tax credits : Government grants received by the Company relating to categories of operating expenditures are credited to the consolidated statements of income (loss) during the period in which the expenditure to which they relate is charged. Royalty and non-royalty-bearing grants from the IIA for funding certain approved research and development projects are recognized at the time when the Company is entitled to such grants, on the basis of the related costs incurred, and included as a deduction from research and development expenses in the consolidated statements of income (loss). The Company recorded grants in the amounts of $5,643, $2,844 and $3,595 for the years ended December 31, 2019, 2020 2021, may not The French Research Tax Credit, Crédit d’Impôt Recherche (“CIR”), is a French tax incentive to stimulate research and development (“R&D”) which is relevant for the Company's French subsidiaries (RivieraWaves SAS and CEVA France). Generally, the CIR offsets the income tax to be paid and the remaining portion (if any) can be refunded. The CIR is calculated based on the claimed volume of eligible R&D expenditures by the Company. As a result, the CIR is presented as a deduction from “research and development expenses” in the consolidated statements of income (loss). During the years ended December 31, 2019, 2020 2021, The research & development (R&D) tax credit in the UK is designed to encourage innovation and increase spending on R&D activities for companies operating in the UK. This is relevant to the Company’s subsidiary R&D centers in the UK. Generally, the UK R&D tax credit offsets the income tax to be paid and the remaining portion (if any) will be refunded. The R&D tax credit is calculated based on the claimed volume of eligible R&D expenditures by the Company. As a result, the R&D tax credit is presented as a deduction from “research and development expenses” in the consolidated statements of income (loss). During the years ended December 31, 2019, 2020 2021, Employee benefit plan : Certain of the Company’s employees are eligible to participate in a defined contribution pension plan (the “Plan”). Participants in the Plan may The Company’s U.S. operations maintain a retirement plan (the “U.S. Plan”) that qualifies as a deferred salary arrangement under Section 401 may may Total contributions for the years ended December 31, 2019, 2020 2021 Accrued severance pay : Effective July 1, 2021, August 1, 2016, 14 1963. July 1, 2021, August 1, 2016, June 30, 2021. June 30, 2021, June 30, 2021. may Effective August 1, 2016, 14 1963, July 1, 2021, August 1, 2016. no no not Severance pay expenses, net of related income, for the years ended December 31, 2019, 2020 2021, Equity-based compensation : The Company accounts for equity-based compensation in accordance with FASB ASC No. 718, The Company elects the straight-line recognition method for awards subject to graded vesting based only on a service condition and the accelerated method for awards that are subject to performance or market. The fair value of each RSU and PSU (excluding PSUs based on market condition awards) is the market value as determined by the closing price of the common stock on the day of grant. The Company estimates the fair value of PSU based on market condition awards on the date of grant using the Monte-Carlo simulation model. 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: 2019 2020 2021 Expected dividend yield 0% 0% 0% Expected volatility 42% - 43% 32% - 60% 39% - 60% Risk-free interest rate 2.0% - 2.5% 0.1% - 1.9% 0.1% - 1.7% Expected forfeiture 0% 0% 0% Contractual term of up to (months) 24 24 24 During the years ended December 31, 2019, 2020 2021, Year ended December 31, 2019 2020 2021 Cost of revenue $ 630 $ 639 $ 818 Research and development, net 5,857 6,874 7,287 Sales and marketing 1,495 2,038 1,626 General and administrative 2,736 4,085 3,324 Total equity-based compensation expense $ 10,718 $ 13,636 $ 13,055 As of December 31, 2021, December 31, 2021, Fair value of financial instruments : The carrying amount of cash, cash equivalents, short term bank deposits, trade receivables, other accounts receivable, trade payables and other accounts payable approximates fair value due to the short-term maturities of these instruments. Marketable securities, marketable equity securities and derivative instruments are carried at fair value. See Note 5 Comprehensive income (loss) : The Company accounts for comprehensive income (loss) in accordance with FASB ASC No. 220, Concentration of credit risk : Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents, bank deposits, marketable securities, foreign exchange contracts and trade receivables. The Company invests its surplus cash in cash deposits and marketable securities in financial institutions and has established guidelines relating to diversification and maturities to maintain safety and liquidity of the investments. The majority of the Company’s cash and cash equivalents are invested in high grade certificates of deposits with major U.S., European and Israeli banks. Generally, cash and cash equivalents and bank deposits may may no The Company is exposed primarily to fluctuations in the level of U.S. interest rates. To the extent that interest rates rise, fixed interest investments may may The Company is exposed to financial market risks, including changes in interest rates. The Company typically does not The Company’s trade receivables are geographically diverse, mainly in the Asia Pacific, and also in the United States and Europe. Concentration of credit risk with respect to trade receivables is limited by credit limits, ongoing credit evaluation and account monitoring procedures. The Company performs ongoing credit evaluations of its customers and to date has not may Balance at beginning of period Additions Deduction Balance at end of period Year ended December 31, 2021 Allowance for credit losses $ 300 $ 152 $ (164 ) $ 288 Year ended December 31, 2020 Allowance for credit losses $ 327 $ 1,443 $ (1,470 ) $ 300 Year ended December 31, 2019 Allowance for doubtful accounts $ — $ 327 $ — $ 327 The Company has no Derivative and hedging activities : The Company follows the requirements of FASB ASC No. 815,” one twelve For derivative instruments that are designated and qualify as a cash flow hedge (i.e., hedging the exposure to variability in expected future cash flows that is attributable to a particular risk), the 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. On January 1, 2019, As of December 31, 2020, 2021, Advertising expenses : Advertising expenses are charged to consolidated statements of income (loss) as incurred. Advertising expenses for the years ended December 31, 2019, 2020 2021 Treasury stock : The Company repurchases its common stock from time to time pursuant to a board-authorized share repurchase program through open market purchases and repurchase plans. The repurchases of common stock are accounted for as treasury stock, and result in a reduction of stockholders’ equity. When treasury shares are reissued, the Company accounts for the reissuance in accordance with FASB ASC No. 505 30, Net income (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 year. Diluted net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during each year, plus dilutive potential shares of common stock considered outstanding during the year, in accordance with FASB ASC No. 260, Year ended December 31, 2019 2020 2021 Numerator: Net income (loss) $ 28 $ (2,379 ) $ 396 Denominator (in thousands): Basic weighted-average common stock outstanding 21,932 22,107 22,819 Effect of stock-based awards 391 — 432 Diluted weighted-average common stock outstanding 22,323 22,107 23,251 Basic net income (loss) per share $ 0.00 $ (0.11 ) $ 0.02 Diluted net income (loss) per share $ 0.00 $ (0.11 ) $ 0.02 The weighted-average number of shares related to outstanding equity-based awards excluded from the calculation of diluted net income per share, since their effect was anti-dilutive, were 184,947 shares for the year ended December 31, 2019. December 31, 2020. December 31, 2021. Recently Issued Accounting Pronouncement : In October 2021, No. 2021 08, 805 2021 08 606, 606 first 2023 |
Note 2 - Revenue Recognition
Note 2 - Revenue Recognition | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 2: 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 2022 2023 2024 License, NRE and related revenues $ 26,628 $ 1,318 $ 306 Disaggregation of revenue: The following table provides information about disaggregated revenue by primary geographical market, major product line and timing of revenue recognition: Year ended December 31, 2020 Year ended December 31, 2021 Licensing and related revenues Royalties Total Licensing, NRE and related revenues Royalties Total Primary geographical markets United States $ 6,716 $ 14,097 $ 20,813 $ 16,685 $ 10,033 $ 26,718 Europe and Middle East 6,176 5,790 11,966 2,938 3,938 6,876 Asia Pacific 39,621 27,926 67,547 53,194 35,908 89,102 Other — — — 10 — 10 Total $ 52,513 $ 47,813 $ 100,326 $ 72,827 $ 49,879 $ 122,706 Major product/service lines Connectivity products (baseband for handset and other devices, Bluetooth, Wi-Fi, NB-IoT, and SATA/SAS) $ 40,748 $ 37,917 $ 78,665 $ 52,460 $ 36,960 $ 89,420 Smart sensing products (AI, sensor fusion, audio/sound and imaging and vision) 11,765 9,896 21,661 20,367 12,919 33,286 Total $ 52,513 $ 47,813 $ 100,326 $ 72,827 $ 49,879 $ 122,706 Timing of revenue recognition Products transferred at a point in time $ 40,075 $ 47,813 $ 87,888 $ 53,401 $ 49,879 $ 103,280 Products and services transferred over time 12,438 — 12,438 19,426 — 19,426 Total $ 52,513 $ 47,813 $ 100,326 $ 72,827 $ 49,879 $ 122,706 Year ended December 31, 2019 Licensing and related revenues Royalties Total Primary geographical markets United States $ 15,203 $ 1,424 $ 16,627 Europe and Middle East 5,282 16,211 21,493 Asia Pacific 27,405 21,627 49,032 Total $ 47,890 $ 39,262 $ 87,152 Major product/service lines Connectivity products (baseband for handset and other devices, Bluetooth, Wi-Fi, NB-IoT, and SATA/SAS) $ 36,471 $ 34,206 $ 70,677 Smart sensing products (AI, sensor fusion, audio/sound and imaging and vision) 11,419 5,056 16,475 Total $ 47,890 $ 39,262 $ 87,152 Timing of revenue recognition Products transferred at a point in time $ 33,794 $ 39,262 $ 73,056 Products and services transferred over time 14,096 — 14,096 Total $ 47,890 $ 39,262 $ 87,152 Contract balances: The following table provides information about trade receivables, unbilled receivables and contract liabilities from contracts with customers: December 31, 2020 December 31, 2021 Trade receivables $ 14,765 $ 14,644 Unbilled receivables (associated with licensing, NRE and related revenue) 5,479 1,833 Unbilled receivables (associated with royalties) 10,980 10,972 Deferred revenues (short-term contract liabilities) 2,434 8,661 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 year ended December 31, 2021, January 1, 2021. Practical expediency and exemptions: The Company generally expenses sales commissions when incurred because the amortization period would have been less than one The Company does not one |
Note 3 - Marketable Securities
Note 3 - Marketable Securities | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Cash, Cash Equivalents, and Marketable Securities [Text Block] | NOTE 3: The following is a summary of available-for-sale marketable securities at December 31, 2020 2021: As at December 31, 2021 Amortized cost Gross unrealized gains Gross unrealized losses Fair value Available-for-sale - matures within one year: Corporate bonds $ 11,937 $ 39 $ (7 ) $ 11,969 Available-for-sale - matures after one year through five years: Corporate bonds 78,920 227 (818 ) 78,329 Total $ 90,857 $ 266 $ (825 ) $ 90,298 As at December 31, 2020 Amortized cost Gross unrealized gains Gross unrealized losses Amortized cost Available-for-sale - matures within one year: Corporate bonds $ 12,667 $ 49 $ (7 ) $ 12,709 Available-for-sale - matures after one year through five years: Corporate bonds 75,483 667 (105 ) 76,045 Total $ 88,150 $ 716 $ (112 ) $ 88,754 The following table presents gross unrealized losses and fair values for those investments that were in an unrealized loss position as of December 31, 2020 2021, Less than 12 months 12 months or greater Fair value Gross unrealized loss Fair value Gross unrealized loss As of December 31, 2021 $ 53,412 $ (667 ) $ 12,039 $ (158 ) As of December 31, 2020 $ 31,393 $ (91 ) $ 7,381 $ (21 ) During the year ended December 31, 2019 not December 31, 2020, 2021, 2016 13, not The following table presents gross realized gains and losses from sale of available-for-sale marketable securities: Year ended December 31, 2019 2020 2021 Gross realized gains from sale of available-for-sale marketable securities $ 13 $ 14 $ 43 Gross realized losses from sale of available-for-sale marketable securities $ (41 ) $ (20 ) $ (30 ) |
Note 4 - Leases
Note 4 - Leases | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | NOTE 4: The Company leases substantially all of its office space and vehicles under operating leases. The Company's leases have original lease periods expiring between 2022 2034. one not not The following is a summary of weighted average remaining lease terms and discount rate for all of the Company’s operating leases: December 31, 2021 Weighted average remaining lease term (years) 5.07 Weighted average discount rate 1.97 % Total operating lease cost and cash payments for operating leases were as follows: Year ended December 31, 2020 2021 Operating lease cost $ 2,587 $ 3,085 Cash payments for operating leases $ 2,975 $ 3,175 Maturities of lease liabilities are as follows: 2022 3,466 2023 1,416 2024 794 2025 814 2026 and thereafter 2,365 Total undiscounted cash flows 8,855 Less imputed interest 451 Present value of lease liabilities $ 8,404 |
Note 5 - Fair Value Measurement
Note 5 - Fair Value Measurement | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 5: 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, investments in marketable equity securities and foreign currency derivative contracts at fair value. Investments in marketable equity securities are classified within Level I as the securities are traded in an active market. 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 December 31, 2021 Level I Level II Level III Assets: Marketable securities: Corporate bonds $ 90,298 — $ 90,298 — Foreign exchange contract 63 — 63 — Investments in marketable equity securities 2,919 2,919 — — Description December 31, 2020 Level I Level II Level III Assets: Marketable securities: Corporate bonds $ 88,754 — $ 88,754 — |
Note 6 - Property and Equipment
Note 6 - Property and Equipment, Net | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 6: Composition of assets, grouped by major classifications, is as follows: As at December 31, 2020 2021 Cost: Computers, software and equipment $ 21,322 $ 23,541 Office furniture and equipment 998 1,069 Leasehold improvements 4,059 4,180 26,379 28,790 Less – Accumulated depreciation (18,793 ) (22,025 ) Property and equipment, net $ 7,586 $ 6,765 The Company recorded depreciation expenses in the amount of $3,233 and $3,184 for the years ended December 31, 2020 2021, |
Note 7 - Goodwill and Intangibl
Note 7 - Goodwill and Intangible Assets, Net | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | NOTE 7: (a) Goodwill: Changes in goodwill are as follows: Year ended December 31, 2020 2021 Balance as of January 1, $ 51,070 $ 51,070 Acquisition — 23,707 Balance as of December 31, $ 51,070 $ 74,777 (b) Intangible assets: Year ended December 31, 2020 Year ended December 31, 2021 Weighted average 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 Intrinsix business Customer relationships 5.5 $ — $ — $ — $ 3,604 $ 382 $ 3,222 Customer backlog 1.5 — — — 421 164 257 Patents 5.0 — — — 218 26 192 Core technologies 3.0 — — — 3,329 647 2,682 Intangible assets related to the acquisition of Hillcrest Labs business Customer relationships 4.4 $ 3,518 $ 1,262 $ 2,256 $ 3,518 $ 2,130 $ 1,388 Customer backlog 0.5 72 72 — 72 72 — R&D Tools 7.5 2,475 480 1,995 2,475 810 1,665 Intangible assets related to Immervision assets acuaisition R&D Tools 6.4 7,063 1,575 5,488 7,063 2,679 4,384 Intangible assets related to an investment in NB-IoT technologies NB-IoT technologies (*) 7.0 1,961 864 1,097 1,961 1,144 817 Total intangible assets $ 15,089 $ 4,253 $ 10,836 $ 22,661 $ 8,054 $ 14,607 (*) During the first 2018, not not December 31, 2021. 2019 Future estimated annual amortization charges are as follows: 2022 4,647 2023 3,714 2024 3,013 2025 2,262 2026 and thereafter 971 $ 14,607 The Company recorded amortization expense in the amount of $2,588 and $3,801 for the years ended December 31, 2020 2021, |
Note 8 - Accrued Expenses and O
Note 8 - Accrued Expenses and Other Payables | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | NOTE 8: As at December 31, 2020 2021 Engineering accruals $ 920 $ 719 Professional fees 790 782 Government grants 524 795 Income taxes payable, net 231 420 Other 1,378 1,314 Total $ 3,843 $ 4,030 |
Note 9 - Stockholders' Equity
Note 9 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 9: EQUITY a. Common stock: Holders of common stock are entitled to one vote per share on all matters to be voted upon by the Company’s stockholders. In the event of a liquidation, dissolution or winding up of the Company, holders of common stock are entitled to share ratably in all of the Company’s assets. The Board of Directors may no b. Preferred stock: The Company is authorized to issue up to 5,000,000 shares of “blank check” preferred stock, par value $0.001 per share. Such preferred stock may one may may c. Share repurchase program: In August 2008, 2010, 2013, 2014 2018. February 2020, As of December 31, 2021, d. Employee and non-employee stock plans: The Company grants a mix of stock options, SARs capped with a ceiling and RSUs to employees and non‑employee directors of the Company and its subsidiaries under the Company’s equity plans and provides the right to purchase common stock pursuant to the Company’s 2002 The SAR unit confers the holder the right to stock appreciation over a preset price of the Company’s common stock during a specified period of time. When the unit is exercised, the appreciation amount is paid through the issuance of shares of the Company’s common stock. The ceiling limits the maximum income for each SAR unit. SARs are considered an equity instrument as it is a net share settled award capped with a ceiling (400% for all SAR grants made in years prior to 2016. 2016, one four In connection with the Company’s acquisition of RivieraWaves, on July 7, 2014, not 5635 4 four one December 31, 2018, seven A summary of the Company’s stock option and SARs activities and related information for the year ended December 31, 2021, Number of options and SAR units (1) Weighted average exercise price Weighted average remaining contractual term Aggregate intrinsic-value Outstanding at the beginning of the year 289,069 $ 22.42 3.6 $ 6,673 Granted — — Exercised (163,069 ) 24.24 Forfeited or expired — — Outstanding at the end of the year (2) 126,000 $ 20.06 2.6 $ 2,921 Exercisable at the end of the year (3) 126,000 $ 20.06 2.6 $ 2,921 ( 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 124,250 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 124,250 shares of the Company's common stock issuable upon exercise. In 2019, 2020 2021, not The total intrinsic value of options and SARs exercised during the years ended December 31, 2019, 2020 2021 The options and SARs granted to employees of the Company and its subsidiaries, and the options granted to non-employee directors of the Company which were outstanding as of December 31, 2021, Outstanding Exercisable Exercise price (range) Number of options and SARs Weighted average remaining contractual life (years) Weighted average exercise price Number of options and SARs Weighted average remaining contractual life (years) Weighted average exercise price 14.77 - 17.61 39,000 1.8 $ 15.72 39,000 1.8 $ 15.72 19.36 - 19.59 57,000 2.4 $ 19.41 57,000 2.4 $ 19.41 24.86 - 27.17 30,000 4.1 $ 26.94 30,000 4.1 $ 26.94 126,000 2.6 $ 20.06 126,000 2.6 $ 20.06 A RSU award is an agreement to issue shares of the Company’s common stock at the time the award or a portion thereof vests. RSUs granted to employees generally vest in three first 2017, first 2018, two first 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 “2020 2020 Weighting Goals 50% Vesting of the full 50% of the PSUs occurs if the Company achieves the 2020 license and related revenue amount in the budget approved by the Board (the “2020 License Revenue Target”). The vesting threshold is achievement of 90% of 2020 License Revenue Target. If the Company’s actual result is above 90% but less than 99% of the 2020 License Revenue Target, 91% to 99% of the eligible PSUs would be subject to vesting. If the Company’s actual result exceeds 100% of the 2020 License Revenue Target, every 1% increase of the 2020 License Revenue Target, up to 110%, would result in an increase of 2% of the eligible PSUs. 50% Vesting of the full 50% of the PSUs occurs if the Company achieves positive total shareholder return whereby the return on the Company’s stock for 2020 is greater than the S&P500 index. The vesting threshold is if the return on the Company’s stock for 2020 is at least 90% of the S&P500 index. If the return on the Company’s stock, in comparison to the S&P500, is above 90% but less than 99% of the S&P500 index, 91% to 99% of the eligible PSUs would be subject to vesting. If the return on the Company’s stock exceeds 100% of the S&P500 index, every 1% increase in comparison to the S&P500 index, up to 110%, would result in an increase of 2% of the eligible PSUs. 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. In 2020, 2020 2020 323% S&P500 The 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 In 2020, not February 17, 2021, Furthermore, on February 20, 2020, three one three Weighting Goals 50% Achievement of specified bookings in 2020 (“Specified Bookings”) for licensing and related revenues associated with certain of the Company’s technologies (the “Specified Booking Target”) in specific geographic region. If 90% of the Specified Booking Target is achieved, 90% of the bonus amount under this component would be payable with every 1% increase resulting in a corresponding increase in the bonus amount under this component. 30% Execution of definitive license agreements for pre-determined software with at least five of seven original equipment manufacturers. If five such agreements are executed, 71% of the bonus amount under this component, which is subject to a 6% weighting, would be payable. If six agreements are executed, 86% of the bonus amount under this component, which is subject to a 6% weighting, would be payable. 20% Execution of definitive license agreements with at least two customers in a predetermined strategic market. In 2020, six two not On February 15, 2021, On February 16, 2021, February 16, 2021. 2011 two first first second On February 18, 2021, 2011 February 18, 2022, February 18, 2023 February 18, 2024. Also, on February 18, 2021, 2011 “2021 2021 Weighting Goals 50% Vesting of the full 50% of the PSUs occurs if the Company achieves the 2021 license and related revenue target approved by the Board (the “2021 License Revenue Target”). The vesting threshold is achievement of 90% of 2021 License Revenue Target. If the Company’s actual result exceeds 90% but less than 99% of the 2021 License Revenue Target, 91% to 99% of the eligible PSUs would be subject to vesting. If the Company’s actual result exceeds 100% of the 2021 License Revenue Target, every 1% increase of the 2021 License Revenue Target, up to 110%, would result in an increase of 2% of the eligible PSUs. 50% Vesting of the full 50% of the PSUs occurs if the Company achieves positive total shareholder return whereby the return on the Company’s stock for 2021 is greater than the S&P500 index. The vesting threshold is if the return on the Company’s stock for 2021 is at least 90% of the S&P500 index. If the return on the Company’s stock, in comparison to the S&P500, is above 90% but less than 99% of the S&P500 index, 91% to 99% of the eligible PSUs would be subject to vesting. If the return on the Company’s stock exceeds 100% of the S&P500 index, every 1% increase in comparison to the S&P500 index, up to 110%, would result in an increase of 2% of the eligible PSUs. Additionally, PSUs representing an additional 20%, meaning an additional 1,788, 536, 477 and 477, 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. In 2021, 2021 2021 S&P500 The 2021 February 18, 2022, February 18, 2023 February 18, 2024. A summary of the Company’s RSU and PSU activities and related information for the year ended December 31, 2021, Number of RSUs and PSUs Weighted average grant-date fair value Unvested as at the beginning of the year 842,948 $ 29.30 Granted 420,749 47.32 Vested (484,775 ) 26.80 Forfeited (90,849 ) 36.19 Unvested at the end of the year 688,073 $ 41.18 Stock Plans As of December 31, 2021, 2003 2011 “2011 As of December 31, 2021, 2011 The 2011 February 2011 May 17, 2011. 2002 “2002 2002 2002 2011 2002 2011 2002 December 31, 2021, 2002 The 2011 422 2011 may 2011 may Unless sooner terminated, the 2011 April 2030. The Company’s Board of Directors or a committee thereof has authority to administer the 2011 2011 2003 Under the Director Plan, 1,350,000 shares of common stock (subject to adjustment in the event of future stock splits, future stock dividends or other similar changes in the common stock or the Company’s capital structure) are authorized for issuance. The Director Plan provides for the grant of nonqualified stock options to non-employee directors. Options must be granted at an exercise price equal to the fair market value of the common stock on the date of grant. Options may not ten Under the original terms of the Director Plan, (a) any person who becomes a non-employee director of the Company was automatically granted an option to purchase 38,000 shares of common stock, (b) on June 30 2004, six July 1 st July 1 st six July 1 st February 2015, 2011 February 2015 2017, July 2018, $124,670, 50% first 50% second July 2019, 2020 2021, February 2019, 38,000 The Company’s Board of Directors or a committee thereof may The Company’s Board of Directors or a committee thereof has authority to administer the Director Plan. The Company’s Board of Directors or a committee thereof has the authority to adopt, amend and repeal the administrative rules, guidelines and practices relating to the Director Plan and to interpret its provisions. 2002 ESPP ) The ESPP was adopted by the Company’s Board of Directors and stockholder in July 2002. 423 December 31, 2021, All of the Company’s employees who are regularly employed for more than five 20 not The ESPP designates offer periods, purchase periods and exercise dates. Offer periods generally will be overlapping periods of 24 six 50% may The price per share at which shares of common stock may ● 85% ● 85% The participant’s purchase right is exercised in the above noted manner on each exercise date arising during the offer period unless, on the first first The ESPP is administered by the Board of Directors or a committee designated by the Board, which will have the authority to terminate or amend the plan, subject to specified restrictions, and otherwise to administer and resolve all questions relating to the administration of the plan. e. Dividend policy: The Company has never declared or paid any cash dividends on its capital stock and does not |
Note 10 - Derivatives and Hedgi
Note 10 - Derivatives and Hedging Activities | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 10: The fair value of the Company’s outstanding derivative instruments is as follows: Year ended December 31, 2020 202 Derivative assets Derivatives designated as cash flow hedging instruments: Foreign exchange forward contracts $ — $ 63 Total $ — $ 63 The Company recorded the fair value of derivative assets in “prepaid expenses and other current assets” on the Company’s consolidated balance sheets. The changes in unrealized gains (losses) recognized in “accumulated other comprehensive income (loss)” on derivatives, before tax effect, is as follows: Year ended December 31, 2019 2020 2021 Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ 55 $ (8 ) $ — Foreign exchange forward contracts 385 640 228 $ 440 $ 632 $ 228 The net (gains) losses reclassified from “accumulated other comprehensive income (loss)” into income, are as follows: Year ended December 31, 2019 2020 2021 Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ (27 ) $ (6 ) $ — Foreign exchange forward contracts (280 ) (682 ) (165 ) $ (307 ) $ (688 ) $ (165 ) The Company recorded in cost of revenues and operating expenses, a net gain of $307, a net gain of $688 and a net gain of $165 during the years ended December 31, 2019, 2020 2021, |
Note 11 - Accumulated Other Com
Note 11 - Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 11: The following table summarizes the changes in accumulated balances of other comprehensive income (loss), net of taxes: Year ended December 31, 2020 Year ended December 31, 2021 Unrealized gains (losses) on available-for-sale marketable securities Unrealized gains (losses) on cash flow hedges Total Unrealized gains (losses) on available-for-sale marketable securities Unrealized gains (losses) on cash flow hedges Total Beginning balance $ 45 $ 49 $ 94 $ 478 $ — $ 478 Other comprehensive income (loss) before reclassifications 428 556 984 (892 ) 200 (692 ) Amounts reclassified from accumulated other comprehensive income (loss) 5 (605 ) (600 ) (13 ) (145 ) (158 ) Net current period other comprehensive income (loss) 433 (49 ) 384 (905 ) 55 (850 ) Ending balance $ 478 $ — $ 478 $ (427 ) $ 55 $ (372 ) The following table provides details about reclassifications out of accumulated other comprehensive income (loss): Details about Accumulated Other Comprehensive Income (Loss) Components Amount reclassified from accumulated other comprehensive income (loss) Affected Line Item in the Statements of Income (Loss) Year ended December 31, 2019 2020 2021 Unrealized gains (losses) on cash flow hedges $ 5 $ 14 $ 4 Cost of revenues 272 607 144 Research and development 8 19 4 Sales and marketing 22 48 13 General and administrative 307 688 165 Total, before income taxes 36 83 20 Income tax expense 271 605 145 Total, net of income taxes Unrealized gains (losses) on available-for-sale marketable securities (28 ) (6 ) 13 Financial income, net (9 ) (1 ) — Income tax benefit (19 ) (5 ) 13 Total, net of income taxes $ 252 $ 600 $ 158 Total, net of income taxes |
Note 12 - Geographic Informatio
Note 12 - Geographic Information and Major Customer and Product Data | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 12: a. Summary information about geographic areas: The Company manages its business on a basis of one reportable segment: the licensing of intellectual property and integrated IP solutions to semiconductor companies and electronic equipment manufacturers (see Note 1 Year ended December 31, 2019 2020 2021 Revenues based on customer location: United States $ 16,627 $ 20,813 $ 26,718 Europe, Middle East (2) 21,493 11,966 6,876 Asia Pacific (1) 49,032 67,547 89,102 Other — — 10 $ 87,152 $ 100,326 $ 122,706 (1) China $ 33,233 $ 51,726 $ 67,491 (2) Germany $ 16,100 *) *) *) Less than 10% 2020 2021 Long-lived assets by geographic region: Israel $ 11,248 $ 8,402 France 814 599 United States 2,868 4,624 Other 1,708 1,967 $ 16,638 $ 15,592 b. Major customer data as a percentage of total revenues: The following table sets forth the customers that represented 10% Year ended December 31, 2019 2020 2021 Customer A 15 % 14 % 21 % Customer B 19 % 15 % *) *) Less than 10% c. Information about Products and Services: The following table sets forth the products and services as percentages of the Company’s total revenues in each of the periods set forth below: Year ended December 31, 2019 2020 2021 Connectivity products and services 81 % 78 % 73 % Smart sensing products and services 19 % 22 % 27 % |
Note 13 - Selected Statements o
Note 13 - Selected Statements of Income Data | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Interest and Other Income [Text Block] | NOTE 13: a. Financial income, net: Year ended December 31, 2019 2020 2021 Interest income $ 4,220 $ 3,291 $ 1,873 Gain (loss) on available-for-sale marketable securities, net (28 ) (6 ) 13 Amortization of premium on available-for-sale marketable securities, net (554 ) (444 ) (420 ) Foreign exchange gain (loss), net (347 ) 443 (1,269 ) Total $ 3,291 $ 3,284 $ 197 b. Remeasurement of marketable equity securities: The Company recorded a gain of $1,983 in 2021 December 31, 2019 2020, The following table summarizes the total carrying value of the Company’s investment in marketable equity securities held as of December 31, 2021, Initial cost basis $ 1,806 Upward adjustments 1,113 Total carrying value at the end of the period $ 2,919 |
Note 14 - Taxes on Income
Note 14 - Taxes on Income | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 14: a. tax reform On December 22, 2017, not 35% 21%; 162 one not not January 1, 2018. In connection with its analysis of the impact of the Tax Act, the Company had $16,053 of Transition Tax inclusion reported on the tax return filed for the year ended December 31, 2017. not The Tax Act added a new code section 951A, 50% 37.5% 2026. 2018 For the fiscal year ended 2020 2021, not Furthermore, the Tax Act limits the carryover of net operating losses generated after tax years 2017 80% January 1, 2018 not not 80% 20 2018 80% b. 1. The Irish operating subsidiaries qualified for a 12.5% tax rate on its trade. Interest income earned by the Irish subsidiaries is taxed at a rate of 25%. As of December 31, 2021, 2016 2. The Israeli subsidiary enjoys certain tax benefits in Israel, particularly as a result of the “Approved Enterprise” and the “Benefited Enterprise” status of its facilities and programs through 2019, 2020. The Israeli subsidiary has been granted “Approved Enterprise” and “Benefited Enterprise” status under the Israeli Law for the Encouragement of Capital Investments. For such Approved Enterprises and Benefited Enterprises, the Israeli subsidiary elected to apply for alternative tax benefits—the waiver of government grants in return for tax exemptions on undistributed income. Upon distribution of such exempt income, the Israeli subsidiary will be subject to corporate tax at the rate ordinarily applicable to the Approved Enterprise’s or Benefited Enterprise’s income. Such tax exemption on undistributed income applies for a limited period of between two ten ten not The Israeli subsidiary is a foreign investor company, or FIC, as defined by the Investment Law. FICs are entitled to further reductions in the tax rate normally applicable to Approved Enterprises and Benefited Enterprises. Depending on the foreign ownership in each tax year, the tax rate can range between 10% (when foreign ownership exceeds 90% 49% no The Company’s Israeli subsidiary’s tax-exempt profit from Approved Enterprises and Benefited Enterprises is permanently reinvested as the Company’s management has determined that the Company does not not not In December 2016, 2017 2018 2016, 1959 73 April 2017. The new tax track under the Amendment, which is applicable to the Israeli subsidiary, is the “Technological Preferred Enterprise”. A Technological Preferred Enterprise is an enterprise for which total consolidated revenues of its parent company and all subsidiaries are less than 10 billion New Israeli Shekel (“NIS”). A Technological Preferred Enterprise, as defined in the law, which is located in the center of Israel (where our Israeli subsidiary is currently located) is subject to tax at a rate of 12% on profits deriving from intellectual property (in development area A, the tax rate is 7.5%), subject to satisfaction of a number of conditions, including compliance with a minimal amount or ratio of annual Research and development expenditure and Research and development employees, as well as having at least 25% 90% On November 15, 2021, 2021 2022 December 31,2020 Along with a reduced tax payment mechanism, section 74 August 15, 2021, 51B In accordance with the temporary provisions, the reduction of the corporation tax will apply to profits that will be thawed (without the actual obligation to distribute them) for one five In light of the Company's decision not The balance of accumulated income that has not December 31, 2021 In addition, due to a lack of intention to distribute a dividend in a subsidiary that has imprisoned profits, the Company did not December 31, 2021 Income not 2021, 2020 2019. The Israeli subsidiary elected to compute taxable income in accordance with Income Tax Regulations (Rules for Accounting for Foreign Investors Companies and Certain Partnerships and Setting their Taxable Income), 1986. As of December 31, 2021, 2018 3. In 2017, 2018, €500 $560 €500 $560 2019, first €500 $560 2020, 2021, 2022, As of December 31, 2021, 2019 c. Taxes on income comprised of: Year ended December 31, 2019 2020 2021 Domestic taxes: Current $ 3 $ 12 $ 5 Deferred — — (1,536 ) Foreign taxes: Current 1,936 6,337 11,772 Deferred (600 ) (1,449 ) (4,949 ) $ 1,339 $ 4,900 $ 5,292 Income before taxes on income: Domestic $ (9,039 ) $ (6,348 ) $ (14,883 ) Foreign 10,406 8,869 20,571 $ 1,367 $ 2,521 $ 5,688 d. Reconciliation between the Company s effective tax rate and the U.S. statutory rate: Year ended December 31, 2019 2020 2021 Income before taxes on income $ 1,367 $ 2,521 $ 5,688 Theoretical tax at U.S. statutory rate 287 529 1,194 Foreign income taxes at rates other than U.S. rate (33 ) 810 450 Approved and benefited enterprises benefits (*) (154 ) — — Technological Preferred Enterprise benefits (*) — 22 836 Subpart F 568 359 192 Non-deductible items 124 306 340 Non-taxable items (486 ) (690 ) (483 ) Changes in uncertain tax position (1,029 ) — — Stock-based compensation expense (3 ) (666 ) (1,193 ) Impacts of GILTI 967 644 — Tax adjustment in respect of difference tax rate of foreign subsidiary 364 1,044 108 Foreign withholding taxes 444 — 648 Changes in valuation allowance (209 ) 2,487 2,575 Other, net 499 55 625 Taxes on income $ 1,339 $ 4,900 $ 5,292 (*) Basic and diluted earnings per share amounts of the benefit resulting from: the “Approved Enterprise” and “Benefited Enterprise” status $ 0.01 $ — $ — the “Technological Preferred Enterprise benefits” status $ — $ 0.00 $ 0.04 e. Deferred taxes on income: Significant components of the Company’s deferred tax assets are as follows: As at December 31, 2020 2021 Deferred tax assets Operating loss carryforward $ 9,493 $ 15,621 Accrued expenses and deferred revenues 1,783 1,951 Temporary differences related to R&D expenses 4,275 5,057 Equity-based compensation 3,667 2,756 Operating leases 1,619 1,737 Tax credit carry forward 7,214 10,997 Other 202 132 Total gross deferred tax assets 28,253 38,251 Valuation allowance (15,844 ) (19,288 ) Net deferred tax assets $ 12,409 $ 18,963 Deferred tax liabilities Operating leases $ 1,583 $ 1,719 Intangible assets — 1,394 Total deferred tax liabilities $ 1,583 $ 3,113 Net deferred tax assets (*) $ 10,826 $ 15,850 (*) $45 and $119 net deferred taxes for the years ended December 31, 2020 2021, Changes in valuation allowances on deferred tax assets result from management's assessment of the Company's ability to utilize certain future tax deductions, operating losses and tax credit carryforwards prior to expiration. Valuation allowances were recorded to reduce deferred tax assets to an amount that will, more likely than not, As of December 31, 2021, no f. Uncertain tax positions: A reconciliation of the beginning and ending amount of gross unrecognized tax benefits based on the provisions of FASB ASC No. 740 Year ended December 31, 2020 2021 Beginning of year $ 1,037 $ 1,558 Additions for current year tax positions 387 133 Additions (reductions) for prior year’s tax positions 134 (81 ) Balance at December 31 $ 1,558 $ 1,610 As of December 31, 2020 2021, not December 31, 2020 2021 not The Company believes that an adequate provision has been made for any adjustments that may not not 12 g. Tax loss carryforwards: As of December 31, 2021, December 31, 2021, 2030. As of December 31, 2021, h Tax returns CEVA files income tax returns in the U.S. federal jurisdiction and various state and local jurisdictions. With few exceptions, CEVA is no 2010. |
Note 15 - Related Party Transac
Note 15 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 15: On February 16, 2021, February 16, 2021. December 31, 2021, December 31, 2021 |
Note 16 - Commitments and Conti
Note 16 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 16: a. The Company is not b. As of December 31, 2021, As of December 31, 2021, Minimum rental commitments for leasehold properties Commitments for other lease obligations Other purchase obligations Total 2022 $ 513 $ 6,855 $ 2,100 $ 9,468 2023 318 272 145 735 2024 40 — 130 170 2025 and thereafter 38 — 21 59 Total $ 909 $ 7,127 $ 2,396 $ 10,432 c. Royalties: The Company participated in programs sponsored by the Israeli government for the support of research and development activities. Through December 31, 2021, no Royalty expenses relating to the IIA grants included in cost of revenues for the years ended December 31, 2019, 2020 2021 December 31, 2021, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Organization [Policy Text Block] | Organization: CEVA, Inc. (“CEVA” or the “Company”) was incorporated in Delaware on November 22, 1999. November 2002. no CEVA licenses a family of wireless connectivity and smart sensing technologies and integrated IP solutions. The Company’s offerings include Digital Signal Processors, AI processors, wireless platforms and complementary software for sensor fusion, image enhancement, computer vision, voice input and artificial intelligence, all of which are key enabling technologies for a smarter, more secure and more connected world. These technologies are offered in combination with Intrinsix IP integration services, helping customers address their most complex and time-critical integrated circuit design projects. CEVA’s DSP-based solutions include platforms for 5G 4/5/6/6E 802.11n/ac/ax CEVA’s recently acquired Intrinsix Corp. (“Intrinsix”) business expands its market reach to the aerospace and defense markets and allows it to offer integrated IP solutions that combine CEVA’s standardized, off-the-shelf IP together with Intrinsix’s non-recurring engineering (“NRE”) design capabilities and IP in RF, mixed-signal, security, high complexity digital design, chiplets and more. 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 mobile, consumer, automotive, robotics, industrial, aerospace & defense and IoT companies for incorporation into a wide variety of end products. |
Business Combinations Policy [Policy Text Block] | Acquisitions: In July 2019, first 2020, In addition, the Company incurred acquisition-related expenses associated with the Hillcrest Labs transaction in a total amount of $462, which were included in general and administrative expenses for the year ended December 31, 2019. Goodwill generated from this business combination is attributed to synergies between the Company's and Hillcrest Lab's respective products and services. The results of Hillcrest Labs’ operations have been included in the consolidated financial statements since July 19, 2019. not not The purchase price allocation for the acquisition has been determined as follows: Tangible assets (including inventory, property and equipment and other) $ 681 Intangible assets: R&D tools 2,475 Customer relationships 3,518 Customer backlog 72 Goodwill 4,458 Total assets $ 11,204 The acquisition of the Hillcrest Labs business has been accounted in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 805, 805” In August 2019, The consideration for the investment has been determined as follows: Prepaid expenses $ 2,937 Intangible assets: R&D tools 7,063 Total assets $ 10,000 On May 31, 2021, ( 100% May 9, 2021 ( third 2021. twenty-four 24 In addition, the Company incurred acquisition-related costs in an amount of $970, which were included in general and administrative expenses for the year ended December 31, 2021. The acquisition has been accounted in accordance with FASB Accounting Standards Codification (“ASC”) No. 805, The results of operations of the combined business, including the acquired business, have been included in the consolidated financial statements as of the closing date. The primary rationale for this acquisition was ( 1 2 3 The purchase price allocation for the acquisition has been determined as follows: Assets Net assets (including cash in the amount of $ 600 $ 872 Intangible assets 7,572 Goodwill 23,707 Total assets $ 32,151 Liabilities Deferred tax liabilities $ 1,660 Total liabilities $ 1,660 Total $ 30,491 The fair value and weighted average estimated useful life of the acquired intangible assets are as follows: Identifiable Intangible Assets Estimated Fair Value Weighted-Average Estimated Useful Life in Years Customer relationships $ 3,604 5.5 Customer backlog 421 1.5 Technologies 3,329 3.0 Patents 218 5.0 Total identifiable intangible assets $ 7,572 The following unaudited pro forma financial information presents combined results of operations for the periods presented, as if the Company had completed the acquisition on January 1, 2020. not Year ended December 31 2020 2021 Pro forma total revenues $ 122,048 $ 131,397 Pro forma net loss (3,837 ) (1,707 ) The intangible assets are amortized based on the pattern upon which the economic benefits of the intangible assets are to be utilized. |
Basis of Accounting, Policy [Policy Text Block] | Basis of presentation: The consolidated financial statements have been prepared according to U.S Generally Accepted Accounting Principles (“U.S. GAAP”). |
Recently Adopted Accounting Pronouncements [Policy Text Block] | Recently Adopted Accounting Pronouncements: In December 2019, No. 2019 12, 740 2019 12 2019 12 December 15, 2020. not |
Use of Estimates, Policy [Policy Text Block] | Use of estimates : The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company’s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The novel coronavirus (“COVID- 19” may 19 no December 31, 2021. may |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Financial statements in U.S. dollars : A majority of the revenues of the Company and its subsidiaries is generated in U.S. dollars (“dollars”). In addition, a portion of the Company and its subsidiaries’ costs are incurred in dollars. The Company’s management has determined that the dollar is the primary currency of the economic environment in which the Company and its subsidiaries principally operate. Thus, the functional and reporting currency of the Company and its subsidiaries is the dollar. Accordingly, monetary accounts maintained in currencies other than the dollar are remeasured into dollars in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 830, |
Consolidation, Policy [Policy Text Block] | Principles of consolidation : The consolidated financial statements incorporate the financial statements of the Company and all of its subsidiaries. All inter-company balances and transactions have been eliminated on consolidation. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash equivalents : Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three |
Short-term Deposit [Policy Text Block] | Short-term bank deposits : Short-term bank deposits are deposits with maturities of more than three one 2019, 2020 2021, |
Marketable Securities, Policy [Policy Text Block] | Marketable securities : Marketable securities consist mainly of corporate bonds. The Company determines the appropriate classification of marketable securities at the time of purchase and re-evaluates such designation at each balance sheet date. In accordance with FASB ASC No. 320 may one The Company determines realized gains or losses on sale of marketable securities on a specific identification method and records such gains or losses as financial income, net. Starting on January 1, 2020, 326, twelve December 31, 2020 2021 Prior to 2020, not 2019. |
Long-term Investments [Policy Text Block] | Long-term bank deposits : Long-term bank deposits are deposits with maturities of more than one 2019, 2020 2021, |
Trade Receivables and Allowance Policy [Policy Text Block] | Trade receivables 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 |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and equipment, net : Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets, at the following annual rates: % Computers, software and equipment 10 - 33 Office furniture and equipment 7 - 33 Leasehold improvements 10 - 20 (the shorter of the expected lease term or useful economic life) The Company’s long-lived assets are reviewed for impairment in accordance with FASB ASC No. 360 10 35, may not An asset to be disposed is reported at the lower of its carrying amount or fair value less selling costs. No impairment was recorded in 2019, 2020 2021. |
Lessee, Leases [Policy Text Block] | Leases : Effective as of January 1, 2019, 842, 842 January 1, 2019, 842. The Company elected the package of practical expedients permitted under the transition guidance, which allowed the Company to carryforward the historical lease classification, the Company’s assessment on whether a contract was or contained a lease, and initial direct costs for any leases that existed prior to January 1, 2019. As a result of the adoption of Topic 842 January 1, 2019, not The Company determines if an arrangement is a lease at inception. The Company’s assessment is based on: ( 1 2 3 Leases are classified as either finance leases or operating leases. A lease is classified as a finance lease if any one no not one not ROU assets and liabilities are recognized on the commencement date based on the present value of remaining lease payments over the lease term. For this purpose, the Company considers only payments that are fixed and determinable at the time of commencement. As most of the Company's leases do not may The Company elected to not twelve |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill : Goodwill is carried at cost and is not October 1st The Company operates in one May 2021, one two two ASC 350 first not not no not not No. 2017 04, 350 January 1, 2020. 2017 04, not two three December 31, 2021, |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Intangible assets, net : Acquired intangible assets with finite lives are amortized over their estimated useful lives. The Company amortizes intangible assets with finite lives over periods ranging from half a year to seven Intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not not December 31, 2019, 2020 2021. |
Investment, Policy [Policy Text Block] | Investments in marketable equity securities: The Company holds an equity interest in Cipia Vision Ltd (CPIA.TA) ("Cipia"). For the years ended December 31, 2019 2020, not December 31, 2019 2020, 321. In November 2021, no December 31, 2021, $ 1,983 |
Revenue from Contract with Customer [Policy Text Block] | Revenue recognition : The following is a description of principal activities from which the Company generates revenue. Revenues are recognized when control of the promised goods or services are transferred to the customers in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company determines revenue recognition through the following steps: ● identification of the contract with a customer; ● identification of the performance obligations in the contract; ● determination of the transaction price; ● allocation of the transaction price to the performance obligations in the contract; and ● recognition of revenue when, or as, the Company satisfies a performance obligation. The Company enters into contracts that can include various combinations of products and services, as detailed below, which are generally capable of being distinct and accounted for as separate performance obligations. The Company generates its revenues from ( 1 2 3 The Company accounts for its IP license revenues and related services, which provide the Company's customers with rights to use the Company's IP, in accordance with ASC 606. may 606, Most of the Company’s contracts with customers contain multiple performance obligations. For these contracts, the Company accounts for individual performance obligations separately, if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. Standalone selling prices of IP license are typically estimated using the residual approach. Standalone selling prices of services are typically estimated based on observable transactions when these services are sold on a standalone basis. When contracts involve a significant financing component, the Company adjusts the promised amount of consideration for the effects of the time value of money if the timing of payments agreed to by the parties to the contract (either explicitly or implicitly) provide the customer with a significant benefit of financing, unless the financing period is under one 606. Revenues from contracts that involve significant customization of the Company’s IP to customer-specific specifications are performance obligations the Company generally accounts for as performance obligations satisfied over time. The Company’s performance obligation does not first Revenues that are derived from the sale of a licensee’s products that incorporate the Company’s IP are classified as royalty revenues. Royalty revenues are recognized during the quarter in which the sale of the product incorporating the Company’s IP occurs. Royalties are calculated either as a percentage of the revenues received by the Company’s licensees on sales of products incorporating the Company’s IP or on a per unit basis, as specified in the agreements with the licensees. For a majority of the Company’s royalty revenues, the Company receives the actual sales data from its customers after the quarter ends and accounts for it as unbilled receivables. When the Company does not The Company recently acquired Intrinsix, which derives revenues primarily from NRE payments. Revenues that are derived from NRE payments are performance obligations that are recognized over time as the services are rendered. For time-and-materials contracts, the performance obligation is satisfied, and revenue is recognized over time as the services are performed. Generally, contracts call for billings on a time-and-materials basis; however, in instances when a fixed-fee contract is signed, revenue is recognized over time, based on an input method of labor costs expended, relative to total expected labor costs to complete the contract. In addition to license and NRE fees, contracts with customers generally contain an agreement to provide for training and post contract support, which consists of telephone or e-mail support, correction of errors (bug fixing) and unspecified updates and upgrades. Fees for post contract support, which takes place after delivery to the customer, are specified in the contract and are generally mandatory for the first may twelve Revenues from the sale of development systems and chips are recognized when control of the promised goods or services are transferred to the customers. Deferred revenues, which represent a contract liability, include unearned amounts received under license and NRE agreements, unearned technical support and amounts paid by customers not The Company capitalizes sales commission as costs of obtaining a contract when they are incremental and, if they are expected to be recovered, amortized in a manner consistent with the pattern of transfer of the good or service to which the asset relates. If the expected amortization period is one |
Revenue from Contract with Customer, Cost of Sales [Policy Text Block] | Cost of revenue : Cost of revenue includes the costs of products, services and royalty expense payments to the Israeli Innovation Authority of the Ministry of Economy and Industry in Israel (the “IIA“) (refer to Note 16 |
Income Tax, Policy [Policy Text Block] | Income taxes : The Company recognizes income taxes under the liability method. It recognizes deferred income tax assets and liabilities for the expected future consequences of temporary differences between the financial reporting and tax bases of assets and liabilities. These differences are measured using the enacted statutory tax rates that are expected to apply to taxable income for the years in which differences are expected to reverse. The effect of a change in tax rates on deferred income taxes is recognized in the statements of income (loss) during the period that includes the enactment date. Valuation allowance is recorded to reduce the deferred tax assets to the net amount that the Company believes is more likely than not The Company accounts for uncertain tax positions in accordance with ASC 740. 740 10 two first not second 50% |
Research and Development Expense, Policy [Policy Text Block] | Research and development : Research and development costs are charged to the consolidated statements of income (loss) as incurred. |
Government Grants and Tax Credits [Policy Text Block] | Government grants and tax credits : Government grants received by the Company relating to categories of operating expenditures are credited to the consolidated statements of income (loss) during the period in which the expenditure to which they relate is charged. Royalty and non-royalty-bearing grants from the IIA for funding certain approved research and development projects are recognized at the time when the Company is entitled to such grants, on the basis of the related costs incurred, and included as a deduction from research and development expenses in the consolidated statements of income (loss). The Company recorded grants in the amounts of $5,643, $2,844 and $3,595 for the years ended December 31, 2019, 2020 2021, may not The French Research Tax Credit, Crédit d’Impôt Recherche (“CIR”), is a French tax incentive to stimulate research and development (“R&D”) which is relevant for the Company's French subsidiaries (RivieraWaves SAS and CEVA France). Generally, the CIR offsets the income tax to be paid and the remaining portion (if any) can be refunded. The CIR is calculated based on the claimed volume of eligible R&D expenditures by the Company. As a result, the CIR is presented as a deduction from “research and development expenses” in the consolidated statements of income (loss). During the years ended December 31, 2019, 2020 2021, The research & development (R&D) tax credit in the UK is designed to encourage innovation and increase spending on R&D activities for companies operating in the UK. This is relevant to the Company’s subsidiary R&D centers in the UK. Generally, the UK R&D tax credit offsets the income tax to be paid and the remaining portion (if any) will be refunded. The R&D tax credit is calculated based on the claimed volume of eligible R&D expenditures by the Company. As a result, the R&D tax credit is presented as a deduction from “research and development expenses” in the consolidated statements of income (loss). During the years ended December 31, 2019, 2020 2021, |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | Employee benefit plan : Certain of the Company’s employees are eligible to participate in a defined contribution pension plan (the “Plan”). Participants in the Plan may The Company’s U.S. operations maintain a retirement plan (the “U.S. Plan”) that qualifies as a deferred salary arrangement under Section 401 may may Total contributions for the years ended December 31, 2019, 2020 2021 |
Severance Pay [Policy Text Block] | Accrued severance pay : Effective July 1, 2021, August 1, 2016, 14 1963. July 1, 2021, August 1, 2016, June 30, 2021. June 30, 2021, June 30, 2021. may Effective August 1, 2016, 14 1963, July 1, 2021, August 1, 2016. no no not Severance pay expenses, net of related income, for the years ended December 31, 2019, 2020 2021, |
Share-based Payment Arrangement [Policy Text Block] | Equity-based compensation : The Company accounts for equity-based compensation in accordance with FASB ASC No. 718, The Company elects the straight-line recognition method for awards subject to graded vesting based only on a service condition and the accelerated method for awards that are subject to performance or market. The fair value of each RSU and PSU (excluding PSUs based on market condition awards) is the market value as determined by the closing price of the common stock on the day of grant. The Company estimates the fair value of PSU based on market condition awards on the date of grant using the Monte-Carlo simulation model. 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: 2019 2020 2021 Expected dividend yield 0% 0% 0% Expected volatility 42% - 43% 32% - 60% 39% - 60% Risk-free interest rate 2.0% - 2.5% 0.1% - 1.9% 0.1% - 1.7% Expected forfeiture 0% 0% 0% Contractual term of up to (months) 24 24 24 During the years ended December 31, 2019, 2020 2021, Year ended December 31, 2019 2020 2021 Cost of revenue $ 630 $ 639 $ 818 Research and development, net 5,857 6,874 7,287 Sales and marketing 1,495 2,038 1,626 General and administrative 2,736 4,085 3,324 Total equity-based compensation expense $ 10,718 $ 13,636 $ 13,055 As of December 31, 2021, December 31, 2021, |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair value of financial instruments : The carrying amount of cash, cash equivalents, short term bank deposits, trade receivables, other accounts receivable, trade payables and other accounts payable approximates fair value due to the short-term maturities of these instruments. Marketable securities, marketable equity securities and derivative instruments are carried at fair value. See Note 5 |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive income (loss) : The Company accounts for comprehensive income (loss) in accordance with FASB ASC No. 220, |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of credit risk : Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents, bank deposits, marketable securities, foreign exchange contracts and trade receivables. The Company invests its surplus cash in cash deposits and marketable securities in financial institutions and has established guidelines relating to diversification and maturities to maintain safety and liquidity of the investments. The majority of the Company’s cash and cash equivalents are invested in high grade certificates of deposits with major U.S., European and Israeli banks. Generally, cash and cash equivalents and bank deposits may may no The Company is exposed primarily to fluctuations in the level of U.S. interest rates. To the extent that interest rates rise, fixed interest investments may may The Company is exposed to financial market risks, including changes in interest rates. The Company typically does not The Company’s trade receivables are geographically diverse, mainly in the Asia Pacific, and also in the United States and Europe. Concentration of credit risk with respect to trade receivables is limited by credit limits, ongoing credit evaluation and account monitoring procedures. The Company performs ongoing credit evaluations of its customers and to date has not may Balance at beginning of period Additions Deduction Balance at end of period Year ended December 31, 2021 Allowance for credit losses $ 300 $ 152 $ (164 ) $ 288 Year ended December 31, 2020 Allowance for credit losses $ 327 $ 1,443 $ (1,470 ) $ 300 Year ended December 31, 2019 Allowance for doubtful accounts $ — $ 327 $ — $ 327 The Company has no |
Derivatives, Policy [Policy Text Block] | Derivative and hedging activities : The Company follows the requirements of FASB ASC No. 815,” one twelve For derivative instruments that are designated and qualify as a cash flow hedge (i.e., hedging the exposure to variability in expected future cash flows that is attributable to a particular risk), the 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. On January 1, 2019, As of December 31, 2020, 2021, |
Advertising Cost [Policy Text Block] | Advertising expenses : Advertising expenses are charged to consolidated statements of income (loss) as incurred. Advertising expenses for the years ended December 31, 2019, 2020 2021 |
Treasury Stock [Policy Text Block] | Treasury stock : The Company repurchases its common stock from time to time pursuant to a board-authorized share repurchase program through open market purchases and repurchase plans. The repurchases of common stock are accounted for as treasury stock, and result in a reduction of stockholders’ equity. When treasury shares are reissued, the Company accounts for the reissuance in accordance with FASB ASC No. 505 30, |
Earnings Per Share, Policy [Policy Text Block] | Net income (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 year. Diluted net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during each year, plus dilutive potential shares of common stock considered outstanding during the year, in accordance with FASB ASC No. 260, Year ended December 31, 2019 2020 2021 Numerator: Net income (loss) $ 28 $ (2,379 ) $ 396 Denominator (in thousands): Basic weighted-average common stock outstanding 21,932 22,107 22,819 Effect of stock-based awards 391 — 432 Diluted weighted-average common stock outstanding 22,323 22,107 23,251 Basic net income (loss) per share $ 0.00 $ (0.11 ) $ 0.02 Diluted net income (loss) per share $ 0.00 $ (0.11 ) $ 0.02 The weighted-average number of shares related to outstanding equity-based awards excluded from the calculation of diluted net income per share, since their effect was anti-dilutive, were 184,947 shares for the year ended December 31, 2019. December 31, 2020. December 31, 2021. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncement : In October 2021, No. 2021 08, 805 2021 08 606, 606 first 2023 |
Note 1 - Organization and Sig_2
Note 1 - Organization and Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | Identifiable Intangible Assets Estimated Fair Value Weighted-Average Estimated Useful Life in Years Customer relationships $ 3,604 5.5 Customer backlog 421 1.5 Technologies 3,329 3.0 Patents 218 5.0 Total identifiable intangible assets $ 7,572 |
Business Acquisition, Pro Forma Information [Table Text Block] | Year ended December 31 2020 2021 Pro forma total revenues $ 122,048 $ 131,397 Pro forma net loss (3,837 ) (1,707 ) |
Schedule of Property, Plant and Equipment, Annual Depreciation Rates [Table Text Block] | % Computers, software and equipment 10 - 33 Office furniture and equipment 7 - 33 Leasehold improvements 10 - 20 (the shorter of the expected lease term or useful economic life) |
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | 2019 2020 2021 Expected dividend yield 0% 0% 0% Expected volatility 42% - 43% 32% - 60% 39% - 60% Risk-free interest rate 2.0% - 2.5% 0.1% - 1.9% 0.1% - 1.7% Expected forfeiture 0% 0% 0% Contractual term of up to (months) 24 24 24 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Year ended December 31, 2019 2020 2021 Cost of revenue $ 630 $ 639 $ 818 Research and development, net 5,857 6,874 7,287 Sales and marketing 1,495 2,038 1,626 General and administrative 2,736 4,085 3,324 Total equity-based compensation expense $ 10,718 $ 13,636 $ 13,055 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Balance at beginning of period Additions Deduction Balance at end of period Year ended December 31, 2021 Allowance for credit losses $ 300 $ 152 $ (164 ) $ 288 Year ended December 31, 2020 Allowance for credit losses $ 327 $ 1,443 $ (1,470 ) $ 300 Year ended December 31, 2019 Allowance for doubtful accounts $ — $ 327 $ — $ 327 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year ended December 31, 2019 2020 2021 Numerator: Net income (loss) $ 28 $ (2,379 ) $ 396 Denominator (in thousands): Basic weighted-average common stock outstanding 21,932 22,107 22,819 Effect of stock-based awards 391 — 432 Diluted weighted-average common stock outstanding 22,323 22,107 23,251 Basic net income (loss) per share $ 0.00 $ (0.11 ) $ 0.02 Diluted net income (loss) per share $ 0.00 $ (0.11 ) $ 0.02 |
Intrinsix Corp. [Member] | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Assets Net assets (including cash in the amount of $ 600 $ 872 Intangible assets 7,572 Goodwill 23,707 Total assets $ 32,151 Liabilities Deferred tax liabilities $ 1,660 Total liabilities $ 1,660 Total $ 30,491 |
Immervision [Member] | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Prepaid expenses $ 2,937 Intangible assets: R&D tools 7,063 Total assets $ 10,000 |
Acquisition of Hillcrest Labs [Member] | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Tangible assets (including inventory, property and equipment and other) $ 681 Intangible assets: R&D tools 2,475 Customer relationships 3,518 Customer backlog 72 Goodwill 4,458 Total assets $ 11,204 |
Note 2 - Revenue Recognition (T
Note 2 - Revenue Recognition (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | 2022 2023 2024 License, NRE and related revenues $ 26,628 $ 1,318 $ 306 |
Disaggregation of Revenue [Table Text Block] | Year ended December 31, 2020 Year ended December 31, 2021 Licensing and related revenues Royalties Total Licensing, NRE and related revenues Royalties Total Primary geographical markets United States $ 6,716 $ 14,097 $ 20,813 $ 16,685 $ 10,033 $ 26,718 Europe and Middle East 6,176 5,790 11,966 2,938 3,938 6,876 Asia Pacific 39,621 27,926 67,547 53,194 35,908 89,102 Other — — — 10 — 10 Total $ 52,513 $ 47,813 $ 100,326 $ 72,827 $ 49,879 $ 122,706 Major product/service lines Connectivity products (baseband for handset and other devices, Bluetooth, Wi-Fi, NB-IoT, and SATA/SAS) $ 40,748 $ 37,917 $ 78,665 $ 52,460 $ 36,960 $ 89,420 Smart sensing products (AI, sensor fusion, audio/sound and imaging and vision) 11,765 9,896 21,661 20,367 12,919 33,286 Total $ 52,513 $ 47,813 $ 100,326 $ 72,827 $ 49,879 $ 122,706 Timing of revenue recognition Products transferred at a point in time $ 40,075 $ 47,813 $ 87,888 $ 53,401 $ 49,879 $ 103,280 Products and services transferred over time 12,438 — 12,438 19,426 — 19,426 Total $ 52,513 $ 47,813 $ 100,326 $ 72,827 $ 49,879 $ 122,706 Year ended December 31, 2019 Licensing and related revenues Royalties Total Primary geographical markets United States $ 15,203 $ 1,424 $ 16,627 Europe and Middle East 5,282 16,211 21,493 Asia Pacific 27,405 21,627 49,032 Total $ 47,890 $ 39,262 $ 87,152 Major product/service lines Connectivity products (baseband for handset and other devices, Bluetooth, Wi-Fi, NB-IoT, and SATA/SAS) $ 36,471 $ 34,206 $ 70,677 Smart sensing products (AI, sensor fusion, audio/sound and imaging and vision) 11,419 5,056 16,475 Total $ 47,890 $ 39,262 $ 87,152 Timing of revenue recognition Products transferred at a point in time $ 33,794 $ 39,262 $ 73,056 Products and services transferred over time 14,096 — 14,096 Total $ 47,890 $ 39,262 $ 87,152 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | December 31, 2020 December 31, 2021 Trade receivables $ 14,765 $ 14,644 Unbilled receivables (associated with licensing, NRE and related revenue) 5,479 1,833 Unbilled receivables (associated with royalties) 10,980 10,972 Deferred revenues (short-term contract liabilities) 2,434 8,661 |
Note 3 - Marketable Securities
Note 3 - Marketable Securities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | As at December 31, 2021 Amortized cost Gross unrealized gains Gross unrealized losses Fair value Available-for-sale - matures within one year: Corporate bonds $ 11,937 $ 39 $ (7 ) $ 11,969 Available-for-sale - matures after one year through five years: Corporate bonds 78,920 227 (818 ) 78,329 Total $ 90,857 $ 266 $ (825 ) $ 90,298 As at December 31, 2020 Amortized cost Gross unrealized gains Gross unrealized losses Amortized cost Available-for-sale - matures within one year: Corporate bonds $ 12,667 $ 49 $ (7 ) $ 12,709 Available-for-sale - matures after one year through five years: Corporate bonds 75,483 667 (105 ) 76,045 Total $ 88,150 $ 716 $ (112 ) $ 88,754 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value [Table Text Block] | Less than 12 months 12 months or greater Fair value Gross unrealized loss Fair value Gross unrealized loss As of December 31, 2021 $ 53,412 $ (667 ) $ 12,039 $ (158 ) As of December 31, 2020 $ 31,393 $ (91 ) $ 7,381 $ (21 ) |
Schedule of Realized Gain (Loss) [Table Text Block] | Year ended December 31, 2019 2020 2021 Gross realized gains from sale of available-for-sale marketable securities $ 13 $ 14 $ 43 Gross realized losses from sale of available-for-sale marketable securities $ (41 ) $ (20 ) $ (30 ) |
Note 4 - Leases (Tables)
Note 4 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Lease, Cost [Table Text Block] | December 31, 2021 Weighted average remaining lease term (years) 5.07 Weighted average discount rate 1.97 % Year ended December 31, 2020 2021 Operating lease cost $ 2,587 $ 3,085 Cash payments for operating leases $ 2,975 $ 3,175 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | 2022 3,466 2023 1,416 2024 794 2025 814 2026 and thereafter 2,365 Total undiscounted cash flows 8,855 Less imputed interest 451 Present value of lease liabilities $ 8,404 |
Note 5 - Fair Value Measureme_2
Note 5 - Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Description December 31, 2021 Level I Level II Level III Assets: Marketable securities: Corporate bonds $ 90,298 — $ 90,298 — Foreign exchange contract 63 — 63 — Investments in marketable equity securities 2,919 2,919 — — Description December 31, 2020 Level I Level II Level III Assets: Marketable securities: Corporate bonds $ 88,754 — $ 88,754 — |
Note 6 - Property and Equipme_2
Note 6 - Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Composition of assets, grouped by major classifications, is as follows: As at December 31, 2020 2021 Cost: Computers, software and equipment $ 21,322 $ 23,541 Office furniture and equipment 998 1,069 Leasehold improvements 4,059 4,180 26,379 28,790 Less – Accumulated depreciation (18,793 ) (22,025 ) Property and equipment, net $ 7,586 $ 6,765 |
Note 7 - Goodwill and Intangi_2
Note 7 - Goodwill and Intangible Assets, Net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | Year ended December 31, 2020 2021 Balance as of January 1, $ 51,070 $ 51,070 Acquisition — 23,707 Balance as of December 31, $ 51,070 $ 74,777 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Year ended December 31, 2020 Year ended December 31, 2021 Weighted average 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 Intrinsix business Customer relationships 5.5 $ — $ — $ — $ 3,604 $ 382 $ 3,222 Customer backlog 1.5 — — — 421 164 257 Patents 5.0 — — — 218 26 192 Core technologies 3.0 — — — 3,329 647 2,682 Intangible assets related to the acquisition of Hillcrest Labs business Customer relationships 4.4 $ 3,518 $ 1,262 $ 2,256 $ 3,518 $ 2,130 $ 1,388 Customer backlog 0.5 72 72 — 72 72 — R&D Tools 7.5 2,475 480 1,995 2,475 810 1,665 Intangible assets related to Immervision assets acuaisition R&D Tools 6.4 7,063 1,575 5,488 7,063 2,679 4,384 Intangible assets related to an investment in NB-IoT technologies NB-IoT technologies (*) 7.0 1,961 864 1,097 1,961 1,144 817 Total intangible assets $ 15,089 $ 4,253 $ 10,836 $ 22,661 $ 8,054 $ 14,607 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2022 4,647 2023 3,714 2024 3,013 2025 2,262 2026 and thereafter 971 $ 14,607 |
Note 8 - Accrued Expenses and_2
Note 8 - Accrued Expenses and Other Payables (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | As at December 31, 2020 2021 Engineering accruals $ 920 $ 719 Professional fees 790 782 Government grants 524 795 Income taxes payable, net 231 420 Other 1,378 1,314 Total $ 3,843 $ 4,030 |
Note 9 - Stockholders' Equity (
Note 9 - Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Number of options and SAR units (1) Weighted average exercise price Weighted average remaining contractual term Aggregate intrinsic-value Outstanding at the beginning of the year 289,069 $ 22.42 3.6 $ 6,673 Granted — — Exercised (163,069 ) 24.24 Forfeited or expired — — Outstanding at the end of the year (2) 126,000 $ 20.06 2.6 $ 2,921 Exercisable at the end of the year (3) 126,000 $ 20.06 2.6 $ 2,921 |
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Outstanding Exercisable Exercise price (range) Number of options and SARs Weighted average remaining contractual life (years) Weighted average exercise price Number of options and SARs Weighted average remaining contractual life (years) Weighted average exercise price 14.77 - 17.61 39,000 1.8 $ 15.72 39,000 1.8 $ 15.72 19.36 - 19.59 57,000 2.4 $ 19.41 57,000 2.4 $ 19.41 24.86 - 27.17 30,000 4.1 $ 26.94 30,000 4.1 $ 26.94 126,000 2.6 $ 20.06 126,000 2.6 $ 20.06 |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Number of RSUs and PSUs Weighted average grant-date fair value Unvested as at the beginning of the year 842,948 $ 29.30 Granted 420,749 47.32 Vested (484,775 ) 26.80 Forfeited (90,849 ) 36.19 Unvested at the end of the year 688,073 $ 41.18 |
Note 10 - Derivatives and Hed_2
Note 10 - Derivatives and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] | Year ended December 31, 2020 202 Derivative assets Derivatives designated as cash flow hedging instruments: Foreign exchange forward contracts $ — $ 63 Total $ — $ 63 Year ended December 31, 2019 2020 2021 Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ 55 $ (8 ) $ — Foreign exchange forward contracts 385 640 228 $ 440 $ 632 $ 228 |
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Year ended December 31, 2019 2020 2021 Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ (27 ) $ (6 ) $ — Foreign exchange forward contracts (280 ) (682 ) (165 ) $ (307 ) $ (688 ) $ (165 ) |
Note 11 - Accumulated Other C_2
Note 11 - Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Year ended December 31, 2020 Year ended December 31, 2021 Unrealized gains (losses) on available-for-sale marketable securities Unrealized gains (losses) on cash flow hedges Total Unrealized gains (losses) on available-for-sale marketable securities Unrealized gains (losses) on cash flow hedges Total Beginning balance $ 45 $ 49 $ 94 $ 478 $ — $ 478 Other comprehensive income (loss) before reclassifications 428 556 984 (892 ) 200 (692 ) Amounts reclassified from accumulated other comprehensive income (loss) 5 (605 ) (600 ) (13 ) (145 ) (158 ) Net current period other comprehensive income (loss) 433 (49 ) 384 (905 ) 55 (850 ) Ending balance $ 478 $ — $ 478 $ (427 ) $ 55 $ (372 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Details about Accumulated Other Comprehensive Income (Loss) Components Amount reclassified from accumulated other comprehensive income (loss) Affected Line Item in the Statements of Income (Loss) Year ended December 31, 2019 2020 2021 Unrealized gains (losses) on cash flow hedges $ 5 $ 14 $ 4 Cost of revenues 272 607 144 Research and development 8 19 4 Sales and marketing 22 48 13 General and administrative 307 688 165 Total, before income taxes 36 83 20 Income tax expense 271 605 145 Total, net of income taxes Unrealized gains (losses) on available-for-sale marketable securities (28 ) (6 ) 13 Financial income, net (9 ) (1 ) — Income tax benefit (19 ) (5 ) 13 Total, net of income taxes $ 252 $ 600 $ 158 Total, net of income taxes |
Note 12 - Geographic Informat_2
Note 12 - Geographic Information and Major Customer and Product Data (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Revenue from External Customers by Geographic Areas [Table Text Block] | Year ended December 31, 2019 2020 2021 Revenues based on customer location: United States $ 16,627 $ 20,813 $ 26,718 Europe, Middle East (2) 21,493 11,966 6,876 Asia Pacific (1) 49,032 67,547 89,102 Other — — 10 $ 87,152 $ 100,326 $ 122,706 (1) China $ 33,233 $ 51,726 $ 67,491 (2) Germany $ 16,100 *) *) |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | 2020 2021 Long-lived assets by geographic region: Israel $ 11,248 $ 8,402 France 814 599 United States 2,868 4,624 Other 1,708 1,967 $ 16,638 $ 15,592 |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Year ended December 31, 2019 2020 2021 Customer A 15 % 14 % 21 % Customer B 19 % 15 % *) |
Revenue from External Customers by Products and Services [Table Text Block] | Year ended December 31, 2019 2020 2021 Connectivity products and services 81 % 78 % 73 % Smart sensing products and services 19 % 22 % 27 % |
Note 13 - Selected Statements_2
Note 13 - Selected Statements of Income Data (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Interest and Other Income [Table Text Block] | Year ended December 31, 2019 2020 2021 Interest income $ 4,220 $ 3,291 $ 1,873 Gain (loss) on available-for-sale marketable securities, net (28 ) (6 ) 13 Amortization of premium on available-for-sale marketable securities, net (554 ) (444 ) (420 ) Foreign exchange gain (loss), net (347 ) 443 (1,269 ) Total $ 3,291 $ 3,284 $ 197 |
Equity Securities without Readily Determinable Fair Value [Table Text Block] | Initial cost basis $ 1,806 Upward adjustments 1,113 Total carrying value at the end of the period $ 2,919 |
Note 14 - Taxes on Income (Tabl
Note 14 - Taxes on Income (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year ended December 31, 2019 2020 2021 Domestic taxes: Current $ 3 $ 12 $ 5 Deferred — — (1,536 ) Foreign taxes: Current 1,936 6,337 11,772 Deferred (600 ) (1,449 ) (4,949 ) $ 1,339 $ 4,900 $ 5,292 Income before taxes on income: Domestic $ (9,039 ) $ (6,348 ) $ (14,883 ) Foreign 10,406 8,869 20,571 $ 1,367 $ 2,521 $ 5,688 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year ended December 31, 2019 2020 2021 Income before taxes on income $ 1,367 $ 2,521 $ 5,688 Theoretical tax at U.S. statutory rate 287 529 1,194 Foreign income taxes at rates other than U.S. rate (33 ) 810 450 Approved and benefited enterprises benefits (*) (154 ) — — Technological Preferred Enterprise benefits (*) — 22 836 Subpart F 568 359 192 Non-deductible items 124 306 340 Non-taxable items (486 ) (690 ) (483 ) Changes in uncertain tax position (1,029 ) — — Stock-based compensation expense (3 ) (666 ) (1,193 ) Impacts of GILTI 967 644 — Tax adjustment in respect of difference tax rate of foreign subsidiary 364 1,044 108 Foreign withholding taxes 444 — 648 Changes in valuation allowance (209 ) 2,487 2,575 Other, net 499 55 625 Taxes on income $ 1,339 $ 4,900 $ 5,292 (*) Basic and diluted earnings per share amounts of the benefit resulting from: the “Approved Enterprise” and “Benefited Enterprise” status $ 0.01 $ — $ — the “Technological Preferred Enterprise benefits” status $ — $ 0.00 $ 0.04 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | As at December 31, 2020 2021 Deferred tax assets Operating loss carryforward $ 9,493 $ 15,621 Accrued expenses and deferred revenues 1,783 1,951 Temporary differences related to R&D expenses 4,275 5,057 Equity-based compensation 3,667 2,756 Operating leases 1,619 1,737 Tax credit carry forward 7,214 10,997 Other 202 132 Total gross deferred tax assets 28,253 38,251 Valuation allowance (15,844 ) (19,288 ) Net deferred tax assets $ 12,409 $ 18,963 Deferred tax liabilities Operating leases $ 1,583 $ 1,719 Intangible assets — 1,394 Total deferred tax liabilities $ 1,583 $ 3,113 Net deferred tax assets (*) $ 10,826 $ 15,850 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | Year ended December 31, 2020 2021 Beginning of year $ 1,037 $ 1,558 Additions for current year tax positions 387 133 Additions (reductions) for prior year’s tax positions 134 (81 ) Balance at December 31 $ 1,558 $ 1,610 |
Note 16 - Commitments and Con_2
Note 16 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Contractual Obligation, Fiscal Year Maturity [Table Text Block] | Minimum rental commitments for leasehold properties Commitments for other lease obligations Other purchase obligations Total 2022 $ 513 $ 6,855 $ 2,100 $ 9,468 2023 318 272 145 735 2024 40 — 130 170 2025 and thereafter 38 — 21 59 Total $ 909 $ 7,127 $ 2,396 $ 10,432 |
Note 1 - Organization and Sig_3
Note 1 - Organization and Significant Accounting Policies (Details Textual) $ in Thousands | May 31, 2021USD ($) | Aug. 31, 2019USD ($) | Jul. 31, 2019USD ($) | Sep. 30, 2021USD ($) | Mar. 31, 2020USD ($) | Dec. 31, 2021USD ($)shares | Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($) | Jan. 01, 2019USD ($) |
Payments to Acquire Intangible Assets | $ 0 | $ 0 | $ 7,364 | |||||||
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total | 0 | $ 0 | ||||||||
Impairment of Long-Lived Assets to be Disposed of | 0 | 0 | 0 | |||||||
Operating Lease, Right-of-Use Asset | 8,827 | 9,052 | ||||||||
Operating Lease, Liability, Total | $ 8,404 | |||||||||
Number of Operating Segments | 1 | |||||||||
Number of Reportable Segments | 1 | |||||||||
Goodwill, Impairment Loss | $ 0 | |||||||||
Impairment of Intangible Assets, Finite-lived | 0 | 0 | $ 0 | |||||||
Investments, Fair Value Disclosure, Total | $ 2,919 | |||||||||
Technical Support Period (Month) | 12 months | |||||||||
Sales Commission, Expected Amortization Period Within Which the Sales Commission Fee is Expensed When Incurred (Year) | 1 year | |||||||||
Reduction from Research and Development Expenses Due to Receipt of Grants | $ 3,595 | 2,844 | $ 5,643 | |||||||
Research and Development Tax Credit | 2,299 | 3,287 | 2,312 | |||||||
Investment Tax Credit | $ 248 | 198 | $ 201 | |||||||
Defined Contribution Plan, Contribution Rate | 10.00% | |||||||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 50.00% | |||||||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 6.00% | |||||||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 15.00% | |||||||||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 1,155 | 1,232 | $ 1,189 | |||||||
Severance Costs | 1,943 | 1,983 | 1,826 | |||||||
Advertising Expense | $ 623 | $ 559 | $ 996 | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares | 65,073 | 1,132,017 | 184,947 | |||||||
Foreign Exchange Forward and Option Contracts [Member] | Cash Flow Hedging [Member] | ||||||||||
Derivative, Notional Amount | $ 4,500 | $ 0 | ||||||||
Stock Options, Stock Appreciation Rights and Employee Stock Purchase Plan [Member] | ||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | 18,817 | |||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 0 | |||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 7 months 6 days | |||||||||
Maximum [Member] | ||||||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 7 years 6 months | |||||||||
Percentage of Royalty Expense | 3.50% | |||||||||
Maximum [Member] | Foreign Exchange Forward and Option Contracts [Member] | Cash Flow Hedging [Member] | ||||||||||
Payroll of Non-US Employees Hedged, Term of Hedging Contracts (Month) | 12 months | |||||||||
Minimum [Member] | ||||||||||
Percentage of Royalty Expense | 3.00% | |||||||||
Minimum [Member] | Foreign Exchange Forward and Option Contracts [Member] | Cash Flow Hedging [Member] | ||||||||||
Payroll of Non-US Employees Hedged, Term of Hedging Contracts (Month) | 1 month | |||||||||
Operating Lease, Right-of-Use Asset [Member] | ||||||||||
Prepaid Rent | $ 287 | |||||||||
Accounting Standards Update 2016-02 [Member] | ||||||||||
Operating Lease, Right-of-Use Asset | 9,785 | |||||||||
Operating Lease, Liability, Total | $ 9,498 | |||||||||
Short-term Investments [Member] | ||||||||||
Percentage of Interest Rate, Savings Deposits | 1.12% | 2.53% | 2.64% | |||||||
Long-term Investments [Member] | ||||||||||
Percentage of Interest Rate, Savings Deposits | 1.15% | 1.32% | 2.94% | |||||||
Licensing Agreements [Member] | Immervision [Member] | ||||||||||
Payments to Acquire Intangible Assets | $ 10,000 | |||||||||
Acquisition of Hillcrest Labs [Member] | ||||||||||
Business Combination, Consideration Transferred, Total | $ 11,204 | |||||||||
Payments to Acquire Businesses, Gross | 10,000 | $ 204 | ||||||||
Business Combination, Amount Held in Escrow to Satisfy Possible Indemnification Claims | $ 1,000 | |||||||||
Business Combination, Acquisition Related Costs | $ 462 | |||||||||
Intrinsix Corp. [Member] | ||||||||||
Business Combination, Consideration Transferred, Total | $ 33,096 | |||||||||
Payments to Acquire Businesses, Gross | 26,704 | |||||||||
Business Combination, Consideration Transferred, Escrow to Satisfy Indemnification Claims | 4,260 | |||||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred | $ (473) | |||||||||
Intrinsix Corp. [Member] | General and Administrative Expense [Member] | ||||||||||
Business Combination, Acquisition Related Costs | $ 970 | |||||||||
Intrinsix Corp. [Member] | Chief Executive Officer and Chief Technology Officer of Intrinsix [Member] | ||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 2,605 | |||||||||
Percentage of Merger Consideration | 25.00% |
Note 1 - Organization and Sig_4
Note 1 - Organization and Significant Accounting Policies - Purchase Price Allocation for Hillcrest Labs Acquisition (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Aug. 31, 2019 | Jul. 19, 2019 |
Intangible assets | $ 7,063 | ||||
Goodwill | $ 74,777 | $ 51,070 | $ 51,070 | ||
Total assets | $ 10,000 | ||||
Acquisition of Hillcrest Labs [Member] | |||||
Tangible assets (including inventory, property and equipment and other) | $ 681 | ||||
Goodwill | 4,458 | ||||
Total assets | 11,204 | ||||
Acquisition of Hillcrest Labs [Member] | Research and Development Tools [Member] | |||||
Intangible assets | 2,475 | ||||
Acquisition of Hillcrest Labs [Member] | Customer Relationships [Member] | |||||
Intangible assets | 3,518 | ||||
Acquisition of Hillcrest Labs [Member] | Customer Backlog [Member] | |||||
Intangible assets | $ 72 |
Note 1 - Organization and Sig_5
Note 1 - Organization and Significant Accounting Policies - Purchase Price Allocation for Immervision Partnership (Details) $ in Thousands | Aug. 31, 2019USD ($) |
Prepaid expenses | $ 2,937 |
Intangible assets | 7,063 |
Total assets | $ 10,000 |
Note 1 - Organization and Sig_6
Note 1 - Organization and Significant Accounting Policies - Purchase Price Allocation for Intrinsix (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | May 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Assets | ||||
Goodwill | $ 74,777 | $ 51,070 | $ 51,070 | |
Intrinsix Corp. [Member] | ||||
Assets | ||||
Net assets (including cash in the amount of $600) | $ 872 | |||
Intangible assets | 7,572 | |||
Goodwill | 23,707 | |||
Total assets | 32,151 | |||
Liabilities | ||||
Deferred tax liabilities | 1,660 | |||
Total liabilities | 1,660 | |||
Total | $ 30,491 |
Note 1 - Organization and Sig_7
Note 1 - Organization and Significant Accounting Policies - Purchase Price Allocation for Intrinsix (Details) (Parentheticals) $ in Millions | May 31, 2021USD ($) |
Intrinsix Corp. [Member] | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | $ 0.6 |
Note 1 - Organization and Sig_8
Note 1 - Organization and Significant Accounting Policies - Acquisition of Intrinsix - Acquired Intangible Assets (Details) - USD ($) $ in Thousands | May 31, 2021 | Aug. 31, 2019 |
Intangible assets | $ 7,063 | |
Intrinsix Merger [Member] | ||
Intangible assets | $ 7,572 | |
Customer Relationships [Member] | Intrinsix Merger [Member] | ||
Intangible assets | $ 3,604 | |
Weighted-Average Estimated Useful Life (Year) | 5 years 6 months | |
Customer Backlog [Member] | Intrinsix Merger [Member] | ||
Intangible assets | $ 421 | |
Weighted-Average Estimated Useful Life (Year) | 1 year 6 months | |
Technology-Based Intangible Assets [Member] | Intrinsix Corp. [Member] | ||
Intangible assets | $ 3,329 | |
Weighted-Average Estimated Useful Life (Year) | 3 years | |
Patents [Member] | Intrinsix Merger [Member] | ||
Intangible assets | $ 218 | |
Weighted-Average Estimated Useful Life (Year) | 5 years |
Note 1 - Organization and Sig_9
Note 1 - Organization and Significant Accounting Policies - Acquisition of Intrinsix - Pro Forma Information (Details) - Intrinsix Merger [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Pro forma total revenues | $ 131,397 | $ 122,048 |
Pro forma net loss | $ (1,707) | $ (3,837) |
Note 1 - Organization and Si_10
Note 1 - Organization and Significant Accounting Policies - Annual Depreciation Rates of Property, Plant and Equipment (Details) | Dec. 31, 2021 |
Minimum [Member] | Computers, Software and Equipment [Member] | |
Computers, software and equipment | 10.00% |
Minimum [Member] | Office Furniture and Equipment [Member] | |
Computers, software and equipment | 7.00% |
Minimum [Member] | Leasehold Improvements [Member] | |
Computers, software and equipment | 10.00% |
Maximum [Member] | Computers, Software and Equipment [Member] | |
Computers, software and equipment | 33.00% |
Maximum [Member] | Office Furniture and Equipment [Member] | |
Computers, software and equipment | 33.00% |
Maximum [Member] | Leasehold Improvements [Member] | |
Computers, software and equipment | 20.00% |
Note 1 - Organization and Si_11
Note 1 - Organization and Significant Accounting Policies - Assumptions Used to Estimate Fair Value of Employee Stock Purchase Plan (Details) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Expected volatility, minimum | 39.00% | 32.00% | 42.00% |
Expected volatility, maximum | 60.00% | 60.00% | 43.00% |
Risk-free interest rate, minimum | 0.10% | 0.10% | 2.00% |
Risk-free interest rate, maximum | 1.70% | 1.90% | 2.50% |
Expected forfeiture | 0.00% | 0.00% | 0.00% |
Contractual term of up to (months) (Month) | 24 months | 24 months | 24 months |
Note 1 - Organization and Si_12
Note 1 - Organization and Significant Accounting Policies - Equity-based Compensation Expenses Related to Stock Options, SARs, RSUs and Employee Stock Purchase Plan (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Total equity-based compensation expense | $ 13,055 | $ 13,636 | $ 10,718 |
Cost of Sales [Member] | |||
Total equity-based compensation expense | 818 | 639 | 630 |
Research and Development Expense [Member] | |||
Total equity-based compensation expense | 7,287 | 6,874 | 5,857 |
Sales and Marketing [Member] | |||
Total equity-based compensation expense | 1,626 | 2,038 | 1,495 |
General and Administrative Expense [Member] | |||
Total equity-based compensation expense | $ 3,324 | $ 4,085 | $ 2,736 |
Note 1 - Organization and Si_13
Note 1 - Organization and Significant Accounting Policies - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Allowance for credit losses | $ 300 | $ 327 | $ 0 |
Allowance for credit losses | 152 | 1,443 | 327 |
Allowance for credit losses | (164) | (1,470) | 0 |
Allowance for credit losses | 288 | 300 | 327 |
Deduction | $ 164 | $ 1,470 | $ 0 |
Note 1 - Organization and Si_14
Note 1 - Organization and Significant Accounting Policies - Calculation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Numerator: | |||
Net income (loss) | $ 396 | $ (2,379) | $ 28 |
Denominator (in thousands): | |||
Basic weighted-average common stock outstanding (in shares) | 22,819 | 22,107 | 21,932 |
Effect of stock-based awards (in shares) | 432 | 0 | 391 |
Diluted weighted-average common stock outstanding (in shares) | 23,251 | 22,107 | 22,323 |
Basic net income (loss) per share (in dollars per share) | $ 0.02 | $ (0.11) | $ 0 |
Diluted net income (loss) per share (in dollars per share) | $ 0.02 | $ (0.11) | $ 0 |
Note 2 - Revenue Recognition (D
Note 2 - Revenue Recognition (Details Textual) $ in Thousands | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Contract with Customer, Liability, Revenue Recognized | $ 2,385 |
Note 2 - Revenue Recognition -
Note 2 - Revenue Recognition - Remaining Performance Obligation 2 (Details) $ in Thousands | Dec. 31, 2021USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
License, NRE and related revenues | $ 26,628 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
License, NRE and related revenues | 1,318 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
License, NRE and related revenues | $ 306 |
Note 2 - Revenue Recognition _2
Note 2 - Revenue Recognition - Remaining Performance Obligation (Details) (Parentheticals) | Dec. 31, 2021 |
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 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Note 2 - Revenue Recognition _3
Note 2 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenues | $ 122,706 | $ 100,326 | $ 87,152 |
Transferred at Point in Time [Member] | |||
Revenues | 103,280 | 87,888 | 73,056 |
Transferred over Time [Member] | |||
Revenues | 19,426 | 12,438 | 14,096 |
Connectivity Products [Member] | |||
Revenues | 89,420 | 78,665 | 70,677 |
Smart Sensing Products [Member] | |||
Revenues | 33,286 | 21,661 | 16,475 |
License [Member] | |||
Revenues | 72,827 | 52,513 | 47,890 |
License [Member] | Transferred at Point in Time [Member] | |||
Revenues | 53,401 | 40,075 | 33,794 |
License [Member] | Transferred over Time [Member] | |||
Revenues | 19,426 | 12,438 | 14,096 |
License [Member] | Connectivity Products [Member] | |||
Revenues | 52,460 | 40,748 | 36,471 |
License [Member] | Smart Sensing Products [Member] | |||
Revenues | 20,367 | 11,765 | 11,419 |
Royalty [Member] | |||
Revenues | 49,879 | 47,813 | 39,262 |
Royalty [Member] | Transferred at Point in Time [Member] | |||
Revenues | 49,879 | 47,813 | 39,262 |
Royalty [Member] | Connectivity Products [Member] | |||
Revenues | 36,960 | 37,917 | 34,206 |
Royalty [Member] | Smart Sensing Products [Member] | |||
Revenues | 12,919 | 9,896 | 5,056 |
UNITED STATES | |||
Revenues | 26,718 | 20,813 | 16,627 |
UNITED STATES | License [Member] | |||
Revenues | 16,685 | 6,716 | 15,203 |
UNITED STATES | Royalty [Member] | |||
Revenues | 10,033 | 14,097 | 1,424 |
Europe and Middle East [Member] | |||
Revenues | 6,876 | 11,966 | 21,493 |
Europe and Middle East [Member] | License [Member] | |||
Revenues | 2,938 | 6,176 | 5,282 |
Europe and Middle East [Member] | Royalty [Member] | |||
Revenues | 3,938 | 5,790 | 16,211 |
Asia Pacific [Member] | |||
Revenues | 89,102 | 67,547 | 49,032 |
Asia Pacific [Member] | License [Member] | |||
Revenues | 53,194 | 39,621 | 27,405 |
Asia Pacific [Member] | Royalty [Member] | |||
Revenues | 35,908 | 27,926 | $ 21,627 |
Other [Member] | |||
Revenues | 10 | 0 | |
Other [Member] | License [Member] | |||
Revenues | 10 | 0 | |
Other [Member] | Royalty [Member] | |||
Revenues | $ 0 | $ 0 |
Note 2 - Revenue Recognition _4
Note 2 - Revenue Recognition - Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Contract with customer liability, balance | $ 8,661 | $ 2,434 |
Trade Receivables [Member] | ||
Contract with customer asset, balance | 14,644 | 14,765 |
Accrued Revenues [Member] | Licensing and Other [Member] | ||
Contract with customer asset, balance | 1,833 | 5,479 |
Accrued Revenues [Member] | Royalty [Member] | ||
Contract with customer asset, balance | 10,972 | 10,980 |
Deferred Revenue [Member] | ||
Contract with customer liability, balance | $ 8,661 | $ 2,434 |
Note 3 - Marketable Securitie_2
Note 3 - Marketable Securities (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2018 | |
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale, Total | $ 0 | $ 0 |
Note 3 - Marketable Securitie_3
Note 3 - Marketable Securities - Available-for-sale Marketable Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Marketable securities | $ 90,298 | $ 88,754 |
Corporate Bonds [Member] | ||
Available-for-sale - matures within one year, Amortized cost | 11,937 | 12,667 |
Available-for-sale - matures within one year, Gross unrealized gains | 39 | 49 |
Available-for-sale - matures within one year, Gross unrealized losses | (7) | (7) |
Available-for-sale - matures within one year, Fair value | 11,969 | 12,709 |
Available-for-sale - matures after one year through five years, Amortized cost | 78,920 | 75,483 |
Available-for-sale - matures after one year through five years, Gross unrealized gains | 227 | 667 |
Available-for-sale - matures after one year through five years, Gross unrealized losses | (818) | (105) |
Available-for-sale - matures after one year through five years, Fair value | 78,329 | 76,045 |
Available-for-sale, Amortized cost | 90,857 | 88,150 |
Available-for-sale, Gross unrealized gains | 266 | 716 |
Available-for-sale, Gross unrealized losses | (825) | (112) |
Marketable securities | $ 90,298 | $ 88,754 |
Note 3 - Marketable Securitie_4
Note 3 - Marketable Securities - Summary of Gross Unrealized Losses and Fair Values on Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Less than 12 months, Fair value | $ 53,412 | $ 31,393 |
Less than 12 months, Gross unrealized loss | (667) | (91) |
12 months or greater, Fair value | 12,039 | 7,381 |
12 months or greater, Gross unrealized loss | $ (158) | $ (21) |
Note 3 - Marketable Securitie_5
Note 3 - Marketable Securities - Summary of Gross Realized Gains and Losses from Sale of Available-for-sale Marketable Securities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Gross realized gains from sale of available-for-sale marketable securities | $ 43 | $ 14 | $ 13 |
Gross realized losses from sale of available-for-sale marketable securities | $ (30) | $ (20) | $ (41) |
Note 4 - Leases -Lease Cost (De
Note 4 - Leases -Lease Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Weighted average remaining lease term (years) (Year) | 5 years 25 days | |
Weighted average discount rate | 1.97% | |
Operating lease cost | $ 3,085 | $ 2,587 |
Cash payments for operating leases | $ 3,175 | $ 2,975 |
Note 4 - Leases - Maturities of
Note 4 - Leases - Maturities of Lease Liabilities (Details) $ in Thousands | Dec. 31, 2021USD ($) |
2022 | $ 3,466 |
2023 | 1,416 |
2024 | 794 |
2025 | 814 |
2026 and thereafter | 2,365 |
Total undiscounted cash flows | 8,855 |
Less imputed interest | 451 |
Present value of lease liabilities | $ 8,404 |
Note 5 - Fair Value Measureme_3
Note 5 - Fair Value Measurement - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Corporate bonds | $ 90,298 | $ 88,754 |
Foreign exchange contract | 63 | |
Investments in marketable equity securities | 2,919 | |
Fair Value, Inputs, Level 1 [Member] | ||
Foreign exchange contract | 0 | |
Investments in marketable equity securities | 2,919 | |
Fair Value, Inputs, Level 2 [Member] | ||
Foreign exchange contract | 63 | |
Investments in marketable equity securities | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Foreign exchange contract | 0 | |
Investments in marketable equity securities | 0 | |
Corporate Bonds [Member] | ||
Corporate bonds | 90,298 | 88,754 |
Corporate Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Corporate bonds | 0 | 0 |
Corporate Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Corporate bonds | 90,298 | 88,754 |
Corporate Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Corporate bonds | $ 0 | $ 0 |
Note 6 - Property and Equipme_3
Note 6 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Depreciation, Total | $ 3,184 | $ 3,233 | $ 3,104 |
Note 6 - Property and Equipme_4
Note 6 - Property and Equipment, Net - Compositions of Assets, Grouped by Major Classification (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Property and equipment, gross | $ 28,790 | $ 26,379 |
Less – Accumulated depreciation | (22,025) | (18,793) |
Property and equipment, net | 6,765 | 7,586 |
Computers, Software and Equipment [Member] | ||
Property and equipment, gross | 23,541 | 21,322 |
Office Furniture and Equipment [Member] | ||
Property and equipment, gross | 1,069 | 998 |
Leasehold Improvements [Member] | ||
Property and equipment, gross | $ 4,180 | $ 4,059 |
Note 7 - Goodwill and Intangi_3
Note 7 - Goodwill and Intangible Assets, Net (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2018 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||
Finite-Lived Intangible Assets, Gross, Total | $ 22,661 | $ 15,089 | ||||
Amortization of Intangible Assets, Total | 2,710 | 2,307 | $ 1,923 | |||
Amortization of Intangible Assets, Including Portion in Cost of Revenues | 3,801 | 2,588 | ||||
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 | $ 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 acquire 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 December 31, 2021. 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 $239 related to the NB-IoT technologies, which was reduced from the gross carrying amount of intangible assets. The Company recorded the amortization cost of the NB-IoT technologies on “cost of revenues” on the Company’s consolidated statements of income (loss). |
Note 7 - Goodwill and Intangi_4
Note 7 - Goodwill and Intangible Assets, Net - Changes in Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Balance | $ 51,070 | $ 51,070 |
Acquisition | 23,707 | 0 |
Balance | $ 74,777 | $ 51,070 |
Note 7 - Intangible Assets, Net
Note 7 - Intangible Assets, Net - Schedule of Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2018 | ||||
Total intangible assets, Gross Carrying Amount | $ 22,661 | $ 15,089 | ||||
Total intangible assets, Accumulated Amortization | 8,054 | 4,253 | ||||
Intangible assets, net | $ 14,607 | 10,836 | ||||
Customer Relationships [Member] | Intrinsix Corp. [Member] | ||||||
Total intangible assets, Weighted Average Amortization Period (Year) | 5 years 6 months | |||||
Total intangible assets, Gross Carrying Amount | $ 3,604 | 0 | ||||
Total intangible assets, Accumulated Amortization | 382 | 0 | ||||
Intangible assets, net | $ 3,222 | 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 | 2,130 | 1,262 | ||||
Intangible assets, net | $ 1,388 | 2,256 | ||||
Customer Backlog [Member] | Intrinsix Corp. [Member] | ||||||
Total intangible assets, Weighted Average Amortization Period (Year) | 1 year 6 months | |||||
Total intangible assets, Gross Carrying Amount | $ 421 | 0 | ||||
Total intangible assets, Accumulated Amortization | 164 | 0 | ||||
Intangible assets, net | $ 257 | 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 | 72 | ||||
Intangible assets, net | $ 0 | 0 | ||||
Patents [Member] | Intrinsix Corp. [Member] | ||||||
Total intangible assets, Weighted Average Amortization Period (Year) | 5 years | |||||
Total intangible assets, Gross Carrying Amount | $ 218 | 0 | ||||
Total intangible assets, Accumulated Amortization | 26 | 0 | ||||
Intangible assets, net | $ 192 | 0 | ||||
Core Technologies [Member] | Intrinsix Corp. [Member] | ||||||
Total intangible assets, Weighted Average Amortization Period (Year) | 3 years | |||||
Total intangible assets, Gross Carrying Amount | $ 3,329 | 0 | ||||
Total intangible assets, Accumulated Amortization | 647 | 0 | ||||
Intangible assets, net | $ 2,682 | 0 | ||||
Research and Development Tools [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 | 810 | 480 | ||||
Intangible assets, net | $ 1,665 | 1,995 | ||||
Research and Development Tools [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 | 2,679 | 1,575 | ||||
Intangible assets, net | $ 4,384 | 5,488 | ||||
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] | 1,144 | 864 | |||
Intangible assets, net | [1] | $ 817 | $ 1,097 | |||
[1] | During the first quarter of 2018, the Company entered into an agreement to acquire 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 December 31, 2021. 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 $239 related to the NB-IoT technologies, which was reduced from the gross carrying amount of intangible assets. The Company recorded the amortization cost of the NB-IoT technologies on “cost of revenues” on the Company’s consolidated statements of income (loss). |
Note 7 - Intangible Assets, N_2
Note 7 - Intangible Assets, Net - Future Amortization Expense (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
2022 | $ 4,647 | |
2023 | 3,714 | |
2024 | 3,013 | |
2025 | 2,262 | |
2026 and thereafter | 971 | |
Total intangible assets | $ 14,607 | $ 10,836 |
Note 8 - Accrued Expenses and_3
Note 8 - Accrued Expenses and Other Payables - Accrued Expenses and Other Payables (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Engineering accruals | $ 719 | $ 920 |
Professional fees | 782 | 790 |
Government grants | 795 | 524 |
Income taxes payable, net | 420 | 231 |
Other | 1,314 | 1,378 |
Total | $ 4,030 | $ 3,843 |
Note 9 - Stockholders' Equity_2
Note 9 - Stockholders' Equity (Details Textual) | Feb. 18, 2021shares | Feb. 16, 2021USD ($)shares | Feb. 15, 2021shares | Feb. 20, 2020USD ($)shares | Jul. 19, 2019$ / sharesshares | May 07, 2019USD ($)shares | Feb. 19, 2019shares | Jul. 07, 2014$ / sharesshares | Jul. 01, 2004shares | Jun. 30, 2004shares | Jul. 30, 2020shares | Jul. 30, 2019shares | Feb. 28, 2019USD ($) | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2017USD ($) | Feb. 28, 2020shares | Dec. 31, 2015 | Dec. 31, 2011shares | Jul. 31, 2002shares | ||
Common Stock, Number of Votes Per Share | 1 | ||||||||||||||||||||||||
Preferred Stock, Shares Authorized (in shares) | 5,000,000 | 5,000,000 | |||||||||||||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 | |||||||||||||||||||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares) | 1,000,000 | ||||||||||||||||||||||||
Share Repurchase Program Additional Number of Shares Authorized To Be Repurchased (in shares) | 5,700,000 | ||||||||||||||||||||||||
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares) | 497,608 | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Outstanding Number (in shares) | [2] | 126,000 | [1] | 289,069 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Exercisable Number (in shares) | [2],[3] | 126,000 | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Grants in Period (in shares) | 0 | 0 | 0 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Exercises in Period, Intrinsic Value | $ | $ 7,177,000 | $ 6,876,000 | $ 629,000 | ||||||||||||||||||||||
Projected Revenue Goal | $ | $ 41,000,000 | ||||||||||||||||||||||||
Non-employee Director [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Annual Vesting, Percentage | 25.00% | ||||||||||||||||||||||||
The2011 Stock Incentive Plan [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights Vesting Percentage, Year One | 25.00% | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Remaining Vesting Period (Month) | 36 months | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 3,200,000 | ||||||||||||||||||||||||
The 2002 Stock Incentive Plan [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 0 | ||||||||||||||||||||||||
The 2003 Director Stock Option Plan [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 1,350,000 | ||||||||||||||||||||||||
The 2003 Director Stock Option Plan [Member] | Non-employee Director [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total (in shares) | 38,000 | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period (Month) | 6 months | ||||||||||||||||||||||||
The 2003 Director Stock Option Plan [Member] | Board of Directors [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total (in shares) | 13,000 | ||||||||||||||||||||||||
The 2003 Director Stock Option Plan [Member] | Committee Chairperson [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total (in shares) | 13,000 | ||||||||||||||||||||||||
The 2003 Director Stock Option Plan [Member] | Board of Directors Chairman [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total (in shares) | 15,000 | ||||||||||||||||||||||||
The 2002 Employee Stock Purchase Plan [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 200,542 | 3,050,000 | |||||||||||||||||||||||
Period Employees Eligible To Participate in Employee Stock Purchase Plan (Month) | 5 months | ||||||||||||||||||||||||
Minimum Working Hours for Eligibility of Employee Stock Purchase Plan | 20 | ||||||||||||||||||||||||
Maximum [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Outstanding Number (in shares) | 124,250 | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Exercisable Number (in shares) | 124,250 | ||||||||||||||||||||||||
Maximum [Member] | The2011 Stock Incentive Plan [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | ||||||||||||||||||||||||
Stock Appreciation Rights (SARs) [Member] | RivieraWaves [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Awards Granted | 400.00% | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Remaining Vesting Period (Month) | 36 months | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 4 years | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 113,000 | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Employees Granted Shares (in shares) | 27 | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 15.17 | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 7 years | ||||||||||||||||||||||||
Stock Appreciation Rights (SARs) [Member] | RivieraWaves [Member] | SARs Vesting After One Year [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | ||||||||||||||||||||||||
Stock Appreciation Rights (SARs) [Member] | Maximum [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Awards Granted | 400.00% | ||||||||||||||||||||||||
Percentage of Stock Appreciation Rights Units Subject to Grant | 75.00% | ||||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Vesting on February 18, 2022 [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.40% | ||||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Vesting on February 18, 2023 [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.30% | ||||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Vesting on February 18, 2024 [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.30% | ||||||||||||||||||||||||
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 | 24 months | |||||||||||||||||||||||
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) | 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) | $ / shares | $ 25.41 | ||||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Acquisition of Hillcrest Labs [Member] | Restricted Stock Units Vesting After One Year [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 34.00% | 34.00% | |||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Non-employee Director [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 2 years | 1 year | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Accelerated Vesting, Number (in shares) | 5,902 | ||||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Employees [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||||||||||||||||||||||||
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] | The2011 Stock Incentive Plan [Member] | Non-employee Director [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 2 years | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 1,784 | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Fair Value | $ | $ 124,670 | ||||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | The2011 Stock Incentive Plan [Member] | Non-employee Director [Member] | Vesting After the First Anniversary Grant Date [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | The2011 Stock Incentive Plan [Member] | Chief Executive Officer [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 5,962 | ||||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | The2011 Stock Incentive Plan [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) | 4,024 | ||||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | The2011 Stock Incentive Plan [Member] | Chief Financial Officer [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 3,577 | ||||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | The2011 Stock Incentive Plan [Member] | Chief Operating Officer [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 3,577 | ||||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | The2011 Stock Incentive Plan [Member] | Board of Directors [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 26,984 | 35,399 | 21,392 | ||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | The2011 Stock Incentive Plan [Member] | Board of Directors Chairman [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted, Annualized Value | $ | $ 268,520,000 | ||||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | The2011 Stock Incentive Plan [Member] | Directors with a Chairperson Position [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted, Annualized Value | $ | 249,340,000 | ||||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | The2011 Stock Incentive Plan [Member] | Other Board of Directors [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted, Annualized Value | $ | $ 124,670,000 | ||||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | The2011 Stock Incentive Plan [Member] | Director [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted, Annualized Value | $ | $ 124,670,000 | ||||||||||||||||||||||||
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 | 103.00% | 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] | 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% | ||||||||||||||||||||||||
Performance Share Units [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% | ||||||||||||||||||||||||
Performance Share Units [Member] | Key Employees [Member] | |||||||||||||||||||||||||
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] | 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, Equity Instruments Other than Options, Grants in Period (in shares) | 4,515 | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ||||||||||||||||||||||||
Performance Share Units [Member] | The2011 Stock Incentive Plan [Member] | Chief Executive Officer [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 8,943 | ||||||||||||||||||||||||
Performance Share Units [Member] | The2011 Stock Incentive Plan [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) | 2,683 | ||||||||||||||||||||||||
Performance Share Units [Member] | The2011 Stock Incentive Plan [Member] | Chief Financial Officer [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 2,385 | ||||||||||||||||||||||||
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, Percentage of License Revenue Target, Proportional Percentage to Be Received upon Achievement | 109.00% | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Addtional Shares Issuable, Performance Goals Exceeded, Percentage | 20.00% | 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% | 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% | 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% | 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% | 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% | 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 | 5,276 | 19,261 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Addtional Shares Issuable, Performance Goals Exceeded (in shares) | 1,788 | 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 | 1,583 | 5,778 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Addtional Shares Issuable, Performance Goals Exceeded (in shares) | 536 | 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 | 1,407 | 5,136 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Addtional Shares Issuable, Performance Goals Exceeded (in shares) | 477 | 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 | 1,407 | 5,136 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Addtional Shares Issuable, Performance Goals Exceeded (in shares) | 477 | 909 | |||||||||||||||||||||||
Long-term PSUs [Member] | |||||||||||||||||||||||||
Performance Goal, Minimum Market Cap for at Lease 30 Trading Days | $ | $ 1,000,000,000 | ||||||||||||||||||||||||
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 | ||||||||||||||||||||||||
Stock Options, Stock Appreciation Rights, Restricted Stock Units, and Performance Share Units [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 974,542 | ||||||||||||||||||||||||
Rule 10b-18, Authorization Two [Member] | |||||||||||||||||||||||||
Share Repurchase Program Additional Number of Shares Authorized To Be Repurchased (in shares) | 700,000 | ||||||||||||||||||||||||
[1] | Due to the ceiling imposed on the SAR grants, the outstanding amount equals a maximum of 280,427 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 280,427 shares of the Company's common stock issuable upon exercise. |
Note 9 - Stockholders' Equity -
Note 9 - Stockholders' Equity - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | |||
Outstanding at the beginning of the year (in shares) | [1] | 289,069 | ||
Outstanding, Weighted average exercise price (in dollars per share) | $ 22.42 | |||
Outstanding, Weighted average remaining contractual term (Year) | 2 years 7 months 6 days | [2] | 3 years 7 months 6 days | |
Outstanding, Aggregated intrinsic value | $ 2,921 | [2] | $ 6,673 | |
Exercised, Number of shares (in shares) | [1] | (163,069) | ||
Exercised, Weighted average exercise price (in dollars per share) | $ 24.24 | |||
Forfeited or expired, Number of shares (in shares) | [1] | 0 | ||
Forfeited or expired, Weighted average exercise price (in dollars per share) | $ 0 | |||
Outstanding, Number of shares (in shares) | [1] | 126,000 | [2] | 289,069 |
Outstanding, Weighted average exercise price (in dollars per share) | $ 20.06 | [2] | $ 22.42 | |
Exercisable, Number of shares (in shares) | [1],[3] | 126,000 | ||
Exercisable, Weighted average exercise price (in dollars per share) | [3] | $ 20.06 | ||
Exercisable, Weighted average remaining contractual term (Year) | [3] | 2 years 7 months 6 days | ||
Exercisable, Aggregated intrinsic value | [3] | $ 2,921 | ||
[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 280,427 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 280,427 shares of the Company's common stock issuable upon exercise. |
Note 9 - Stockholders' Equity_3
Note 9 - Stockholders' Equity - Options Classified Into Range of Exercise Price (Details) - $ / shares | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | |||
Outstanding, number of options and SARs (in shares) | [2] | 126,000 | [1] | 289,069 |
Outstanding, Weighted average remaining contractual term (Year) | 2 years 7 months 6 days | [1] | 3 years 7 months 6 days | |
Outstanding, weighted average exercise price (in dollars per share) | $ 20.06 | |||
Exercisable, Number of shares (in shares) | [2],[3] | 126,000 | ||
Exercisable, weighted average remaining contractual life (Year) | 2 years 7 months 6 days | |||
Exercisable, Weighted average exercise price (in dollars per share) | [3] | $ 20.06 | ||
Exercise Price Range 1 [Member] | ||||
Range of exercise price, lower limit (in dollars per share) | 14.77 | |||
Range of exercise price, upper limit (in dollars per share) | $ 17.61 | |||
Outstanding, number of options and SARs (in shares) | 39,000 | |||
Outstanding, Weighted average remaining contractual term (Year) | 1 year 9 months 18 days | |||
Outstanding, weighted average exercise price (in dollars per share) | $ 15.72 | |||
Exercisable, Number of shares (in shares) | 39,000 | |||
Exercisable, weighted average remaining contractual life (Year) | 1 year 9 months 18 days | |||
Exercisable, Weighted average exercise price (in dollars per share) | $ 15.72 | |||
Exercise Price Range 2 [Member] | ||||
Range of exercise price, lower limit (in dollars per share) | 19.36 | |||
Range of exercise price, upper limit (in dollars per share) | $ 19.59 | |||
Outstanding, number of options and SARs (in shares) | 57,000 | |||
Outstanding, Weighted average remaining contractual term (Year) | 2 years 4 months 24 days | |||
Outstanding, weighted average exercise price (in dollars per share) | $ 19.41 | |||
Exercisable, Number of shares (in shares) | 57,000 | |||
Exercisable, weighted average remaining contractual life (Year) | 2 years 4 months 24 days | |||
Exercisable, Weighted average exercise price (in dollars per share) | $ 19.41 | |||
Exercise Price Range 3 [Member] | ||||
Range of exercise price, lower limit (in dollars per share) | 24.86 | |||
Range of exercise price, upper limit (in dollars per share) | $ 27.17 | |||
Outstanding, number of options and SARs (in shares) | 30,000 | |||
Outstanding, Weighted average remaining contractual term (Year) | 4 years 1 month 6 days | |||
Outstanding, weighted average exercise price (in dollars per share) | $ 26.94 | |||
Exercisable, Number of shares (in shares) | 30,000 | |||
Exercisable, weighted average remaining contractual life (Year) | 4 years 1 month 6 days | |||
Exercisable, Weighted average exercise price (in dollars per share) | $ 26.94 | |||
[1] | Due to the ceiling imposed on the SAR grants, the outstanding amount equals a maximum of 280,427 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 280,427 shares of the Company's common stock issuable upon exercise. |
Note 9 - Stockholders' Equity_4
Note 9 - Stockholders' Equity - Summary of Restricted Stock Units Activity (Details) - RSUs and PSUs [Member] | 12 Months Ended |
Dec. 31, 2021$ / sharesshares | |
Unvested, number (in shares) | shares | 842,948 |
Unvested, weighted average fair value (in dollars per share) | $ / shares | $ 29.30 |
Granted, number (in shares) | shares | 420,749 |
Granted, weighted average fair value (in dollars per share) | $ / shares | $ 47.32 |
Vested, number (in shares) | shares | (484,775) |
Vested, weighted average fair value (in dollars per share) | $ / shares | $ 26.80 |
Forfeited (in shares) | shares | (90,849) |
Forfeited (in dollars per share) | $ / shares | $ 36.19 |
Unvested, number (in shares) | shares | 688,073 |
Unvested, weighted average fair value (in dollars per share) | $ / shares | $ 41.18 |
Note 10 - Derivatives and Hed_3
Note 10 - Derivatives and Hedging Activities (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Derivative, Gain (Loss) on Derivative, Net, Total | $ 165 | $ 688 | $ 307 |
Note 10 - Derivatives and Hed_4
Note 10 - Derivatives and Hedging Activities - Effective Portion of the Gains and Losses on Derivative Instruments Designated (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Derivative Assets | $ 63 | ||
Foreign exchange option contracts | 228 | $ 632 | $ 440 |
Cash Flow Hedging [Member] | |||
Derivative Assets | 63 | 0 | |
Foreign exchange option contracts | 228 | 632 | 440 |
Cash Flow Hedging [Member] | Foreign Exchange Forward [Member] | |||
Derivative Assets | 63 | 0 | |
Foreign exchange option contracts | 228 | 640 | 385 |
Cash Flow Hedging [Member] | Foreign Exchange Option [Member] | |||
Foreign exchange option contracts | $ 0 | $ (8) | $ 55 |
Note 10 - Derivatives and Hed_5
Note 10 - Derivatives and Hedging Activities - Net (Gains) Losses Reclassified from Accumulated Other Comprehensive Loss (Details) - Derivatives Designated as Cash Flow Hedging Instruments [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total | $ (165) | $ (688) | $ (307) |
Foreign Exchange Option Contracts [Member] | |||
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total | 0 | (6) | (27) |
Foreign Exchange Forward Contracts [Member] | |||
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total | $ (165) | $ (682) | $ (280) |
Note 11 - Accumulated Other C_3
Note 11 - Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Balances of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Balance | $ 260,889 | $ 251,157 | |
Balance | 276,732 | 260,889 | |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | |||
Balance | 478 | 45 | |
Other comprehensive income (loss) before reclassifications | (892) | 428 | |
Amounts reclassified from accumulated other comprehensive income (loss) | (13) | 5 | |
Net current period other comprehensive income (loss) | (905) | 433 | |
Balance | (427) | 478 | |
AOCI Attributable to Parent [Member] | |||
Balance | 478 | 94 | |
Other comprehensive income (loss) before reclassifications | (692) | 984 | |
Amounts reclassified from accumulated other comprehensive income (loss) | (158) | (600) | |
Net current period other comprehensive income (loss) | (850) | 384 | |
Balance | (372) | [1] | 478 |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | |||
Other comprehensive income (loss) before reclassifications | 200 | 556 | |
Amounts reclassified from accumulated other comprehensive income (loss) | (145) | (605) | |
Net current period other comprehensive income (loss) | 55 | $ (49) | |
Balance | $ 55 | ||
[1] | Accumulated unrealized loss from available-for-sale securities, net of taxes of $132 $ (427) Accumulated unrealized gain from hedging activities, net of taxes of $8 $ 55 Accumulated other comprehensive loss, net as of December 31, 2021 $ (372) |
Note 11 - Accumulated Other C_4
Note 11 - Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cost of revenues | $ (16,827) | $ (10,749) | $ (10,106) |
Research and development | (72,504) | (62,010) | (52,843) |
Sales and marketing | 12,861 | 11,907 | 12,363 |
General and administrative | (14,296) | (14,116) | (11,841) |
Total, before income taxe | 5,688 | 2,521 | 1,367 |
Taxes on income | 5,292 | 4,900 | 1,339 |
Net income (loss) | 396 | (2,379) | 28 |
Financial income, net | 197 | 3,284 | 3,291 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||
Net income (loss) | 158 | 600 | 252 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Gains (Losses) on Cash Flow Hedges [Member] | |||
Cost of revenues | 4 | 14 | 5 |
Research and development | 144 | 607 | 272 |
Sales and marketing | 4 | 19 | 8 |
General and administrative | 13 | 48 | 22 |
Total, before income taxe | 165 | 688 | 307 |
Taxes on income | 20 | 83 | 36 |
Net income (loss) | 145 | 605 | 271 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Gains (Losses) on Available-for-sale Marketable Securities [Member] | |||
Taxes on income | 0 | (1) | (9) |
Net income (loss) | 13 | (5) | (19) |
Financial income, net | $ 13 | $ (6) | $ (28) |
Note 12 - Geographic Informat_3
Note 12 - Geographic Information and Major Customer and Product Data (Details Textual) | 12 Months Ended |
Dec. 31, 2021 | |
Number of Reportable Segments | 1 |
Note 12 - Geographic Informat_4
Note 12 - Geographic Information and Major Customer and Product Data - Revenues Based On Customer Location (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenues | $ 122,706 | $ 100,326 | $ 87,152 |
UNITED STATES | |||
Revenues | 26,718 | 20,813 | 16,627 |
Europe and Middle East [Member] | |||
Revenues | 6,876 | 11,966 | 21,493 |
Asia Pacific [Member] | |||
Revenues | 89,102 | 67,547 | 49,032 |
Other Geographic Regions [Member] | |||
Revenues | 10 | 0 | 0 |
CHINA | |||
Revenues | $ 67,491 | $ 51,726 | 33,233 |
GERMANY | |||
Revenues | $ 16,100 |
Note 12 - Geographic Informat_5
Note 12 - Geographic Information and Major Customer and Product Data - Long-lived Assets by Geographic Region (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Long-lived assets | $ 15,592 | $ 16,638 |
ISRAEL | ||
Long-lived assets | 8,402 | 11,248 |
FRANCE | ||
Long-lived assets | 599 | 814 |
UNITED STATES | ||
Long-lived assets | 4,624 | 2,868 |
Other Geographic Regions [Member] | ||
Long-lived assets | $ 1,967 | $ 1,708 |
Note 12 - Geographic Informat_6
Note 12 - Geographic Information and Major Customer and Product Data - Major Customers Data As Percentage of Total Revenues (Details) - Revenue from Contract with Customer Benchmark [Member] - Customer Concentration Risk [Member] | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Customer A [Member] | |||
Percentage of total revenues | 21.00% | 14.00% | 15.00% |
Customer B [Member] | |||
Percentage of total revenues | 15.00% | 19.00% |
Note 12 - Geographic Informat_7
Note 12 - Geographic Information and Major Customer and Product Data - Information About Products and Services (Details) - Revenue Benchmark [Member] - Product Concentration Risk [Member] | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Connectivity Products [Member] | |||
Percentage of total revenues | 73.00% | 78.00% | 81.00% |
Smart Sensing Products [Member] | |||
Percentage of total revenues | 27.00% | 22.00% | 19.00% |
Note 13 - Selected Statements_3
Note 13 - Selected Statements of Income Data (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Marketable Securities, Gain (Loss), Total | $ 1,983 | ||
Other than Temporary Impairment Losses, Investments, Total | $ 0 | $ 0 |
Note 13 - Selected Statements_4
Note 13 - Selected Statements of Income Data - Financial Income, Net (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Interest income | $ 1,873 | $ 3,291 | $ 4,220 |
Gain (loss) on available-for-sale marketable securities, net | 13 | (6) | (28) |
Amortization of premium on available-for-sale marketable securities, net | (420) | (444) | (554) |
Foreign exchange gain (loss), net | (1,269) | 443 | (347) |
Total | $ 197 | $ 3,284 | $ 3,291 |
Note 13 - Selected Statements_5
Note 13 - Selected Statements of Income Data - Revaluation of Investment In Other Company (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Initial cost basis | $ 1,806 |
Upward adjustments | 1,113 |
Total carrying value at the end of the period | $ 2,919 |
Note 14 - Taxes on Income (Deta
Note 14 - Taxes on Income (Details Textual) ₪ in Thousands, $ in Thousands | 12 Months Ended | |||||||
Dec. 31, 2021USD ($) | Dec. 31, 2021ILS (₪) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018 | Dec. 31, 2017USD ($) | Dec. 31, 2021ILS (₪) | ||
Tax Cuts and Jobs Act of 2017, Transition Tax, Income Tax Expense (Benefit) | $ 16,053 | |||||||
Income Tax Expense (Benefit), Total | $ 5,292 | $ 4,900 | $ 1,339 | |||||
Deferred Tax Assets, Net, Total | [1] | 15,850 | 10,826 | |||||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 1,610 | 1,558 | ||||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | $ 0 | $ 0 | ||||||
Maximum [Member] | Technological Preferred Enterprise [Member] | ||||||||
Taxable Income Subject to Lower Tax Rate | ₪ | ₪ 10,000,000 | |||||||
Foreign Tax Authority [Member] | Revenue Commissioners, Ireland [Member] | ||||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 12.50% | 12.50% | ||||||
Open Tax Year | 2016 2017 2018 2019 2020 2021 | 2016 2017 2018 2019 2020 2021 | ||||||
Operating Loss Carryforwards, Total | $ 51,293 | |||||||
Foreign Tax Authority [Member] | Revenue Commissioners, Ireland [Member] | Interest Income [Member] | ||||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 25.00% | 25.00% | ||||||
Foreign Tax Authority [Member] | Israel Tax Authority [Member] | ||||||||
Open Tax Year | 2018 2019 2020 | 2018 2019 2020 | ||||||
Income Tax Rate, Foreign Ownership Exceeds 90% | 10.00% | 10.00% | ||||||
Income Tax Rate, Foreign Ownership Exceeds 49% | 20.00% | 20.00% | ||||||
Income Tax Expense (Benefit), Total | $ 0 | |||||||
Undistributed Earnings of Foreign Subsidiaries | 38,107 | ₪ 118,512 | ||||||
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Foreign Subsidiaries | $ 0 | |||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 23.00% | 23.00% | 23.00% | 23.00% | ||||
Foreign Tax Authority [Member] | Israel Tax Authority [Member] | Dividends Paid to Foreign Companies [Member] | ||||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 4.00% | 4.00% | ||||||
Foreign Tax Authority [Member] | Israel Tax Authority [Member] | Intellectual Property [Member] | ||||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 12.00% | 12.00% | ||||||
Foreign Tax Authority [Member] | Israel Tax Authority [Member] | Intellectual Property [Member] | Development Area A [Member] | ||||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 7.50% | 7.50% | ||||||
Foreign Tax Authority [Member] | Israel Tax Authority [Member] | Minimum [Member] | ||||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 6.00% | 6.00% | ||||||
Tax Exemption Period (Year) | 2 years | 2 years | ||||||
Foreign Tax Authority [Member] | Israel Tax Authority [Member] | Maximum [Member] | ||||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 23.00% | 23.00% | ||||||
Tax Exemption Period (Year) | 10 years | 10 years | ||||||
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | ||||||||
Effective Income Tax Rate Reconciliation, Taxable Profit Up to 500,000 Euros, Percent | 28.00% | 28.00% | ||||||
Effective Income Tax Rate Reconciliation, Taxable Profit Above 500,000 Euros, Percent | 31.00% | 33.33% | ||||||
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | Tax Year 2020 [Member] | ||||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 28.00% | |||||||
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | Tax Year 2021 [Member] | ||||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 26.50% | 26.50% | ||||||
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | Tax Year 2022 [Member] | ||||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 25.00% | 25.00% | ||||||
Domestic Tax Authority [Member] | ||||||||
Deferred Tax Assets, Net, Total | $ 45 | $ 119 | ||||||
Operating Loss Carryforwards, Total | 23,723 | |||||||
State and Local Jurisdiction [Member] | California Franchise Tax Board [Member] | ||||||||
Operating Loss Carryforwards, Total | $ 13,027 | |||||||
Net Operating Loss Carryforwards Begins to Expire | 2030 | 2030 | ||||||
[1] | $45 and $119 net deferred taxes for the years ended December 31, 2020 and 2021, respectively, are from domestic jurisdictions. |
Note 14 - Taxes on Income - Com
Note 14 - Taxes on Income - Composition of Taxes on Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Current | $ 5 | $ 12 | $ 3 |
Deferred | (1,536) | 0 | 0 |
Current | 11,772 | 6,337 | 1,936 |
Deferred | (4,949) | (1,449) | (600) |
Taxes on income | 5,292 | 4,900 | 1,339 |
Domestic | (14,883) | (6,348) | (9,039) |
Foreign | 20,571 | 8,869 | 10,406 |
Income before taxes on income | $ 5,688 | $ 2,521 | $ 1,367 |
Note 14 - Taxes on Income - Rec
Note 14 - Taxes on Income - Reconciliation Between the Company's Effective Tax Rate and the U.S. Statutory Rate (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Income before taxes on income | $ 5,688 | $ 2,521 | $ 1,367 | |
Theoretical tax at U.S. statutory rate | 1,194 | 529 | 287 | |
Foreign income taxes at rates other than U.S. rate | 450 | 810 | (33) | |
Approved and benefited enterprises benefits | [1] | 0 | 0 | (154) |
Technological Preferred Enterprise benefits | [2],[3] | 836 | 22 | 0 |
Subpart F | 192 | 359 | 568 | |
Non-deductible items | 340 | 306 | 124 | |
Non-taxable items | (483) | (690) | (486) | |
Changes in uncertain tax position | 0 | 0 | (1,029) | |
Stock-based compensation expense | (1,193) | (666) | (3) | |
Impacts of GILTI | 0 | 644 | 967 | |
Tax adjustment in respect of difference tax rate of foreign subsidiary | 108 | 1,044 | 364 | |
Foreign withholding taxes | 648 | 0 | 444 | |
Changes in valuation allowance | 2,575 | 2,487 | (209) | |
Other, net | 625 | 55 | 499 | |
Taxes on income | $ 5,292 | $ 4,900 | $ 1,339 | |
the “Approved Enterprise” and “Benefited Enterprise” status (in dollars per share) | $ 0 | $ 0 | $ 0.01 | |
the “Technological Preferred Enterprise benefits” status (in dollars per share) | $ 0.04 | $ 0 | $ 0 | |
[1] | Basic and diluted earnings per share amounts of the benefit resulting from: the "Approved Enterprise" and "Benefited Enterprise" status $ 0.01 $ 0.01 $ — the "Technological Preferred Enterprise benefits" status $ — $ — $ 0.00 | |||
[2] | Basic and diluted earnings per share amounts of the benefit resulting from the “Technological Preferred Enterprise benefits” status | |||
[3] | Basic and diluted earnings per share amounts of the benefit resulting from the “Technological Preferred Enterprise benefits” status. |
Note 14 - Taxes on Income - Sig
Note 14 - Taxes on Income - Significant Components of the Company's Deferred Tax Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | |
Deferred tax assets | |||
Operating loss carryforward | $ 15,621 | $ 9,493 | |
Accrued expenses and deferred revenues | 1,951 | 1,783 | |
Temporary differences related to R&D expenses | 5,057 | 4,275 | |
Equity-based compensation | 2,756 | 3,667 | |
Operating leases | 1,737 | 1,619 | |
Tax credit carry forward | 10,997 | 7,214 | |
Other | 132 | 202 | |
Total gross deferred tax assets | 38,251 | 28,253 | |
Valuation allowance | (19,288) | (15,844) | |
Net deferred tax assets | 18,963 | 12,409 | |
Deferred tax liabilities | |||
Operating leases | 1,719 | 1,583 | |
Intangible assets | 1,394 | 0 | |
Total deferred tax liabilities | 3,113 | 1,583 | |
Net deferred tax assets (*) | [1] | $ 15,850 | $ 10,826 |
[1] | $45 and $119 net deferred taxes for the years ended December 31, 2020 and 2021, respectively, are from domestic jurisdictions. |
Note 14 - Taxes on Income - Unc
Note 14 - Taxes on Income - Uncertain Tax Positions (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Beginning of year | $ 1,558 | $ 1,037 |
Additions for current year tax positions | 133 | 387 |
Additions (reductions) for prior year’s tax positions | (81) | 134 |
Ending balance | $ 1,610 | $ 1,558 |
Note 15 - Related Party Trans_2
Note 15 - Related Party Transactions (Details Textual) - Morrison & Foerster LLP [Member] $ in Thousands | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Related Party Transaction, Amounts of Transaction | $ 1,110 |
Due to Related Parties, Current, Total | $ 11 |
Note 16 - Commitments and Con_3
Note 16 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
IIA [Member] | |||
Royalty Payment Percentage, as Percentage of Grant Received | 100.00% | ||
Accrued Royalties, Current | $ 27,174 | ||
IIA [Member] | Cost of Revenues [Member] | |||
Royalty Expense | $ 1,175 | $ 1,066 | $ 715 |
Minimum [Member] | |||
Percentage of Royalty Expense | 3.00% | ||
Minimum [Member] | IIA [Member] | |||
Percentage of Royalty Expense | 3.00% | ||
Maximum [Member] | |||
Percentage of Royalty Expense | 3.50% | ||
Maximum [Member] | IIA [Member] | |||
Percentage of Royalty Expense | 3.50% |
Note 16 - Commitments and Con_4
Note 16 - Commitments and Contingencies - Future Purchase Obligations and Minimum Rental Commitments for Leasehold Properties and Operating Leases With Non-cancelable Terms (Details) $ in Thousands | Dec. 31, 2021USD ($) |
2022 | $ 9,468 |
2023 | 735 |
2024 | 170 |
2025 and thereafter | 59 |
Total | 10,432 |
Minimum Rental Commitments for Leasehold Properties [Member] | |
2022 | 513 |
2023 | 318 |
2024 | 40 |
2025 and thereafter | 38 |
Total | 909 |
Commitments for Other Lease Obligations [Member] | |
2022 | 6,855 |
2023 | 272 |
2024 | 0 |
2025 and thereafter | 0 |
Total | 7,127 |
Other Purchase Obligations [Member] | |
2022 | 2,100 |
2023 | 145 |
2024 | 130 |
2025 and thereafter | 21 |
Total | $ 2,396 |