Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2022 | Aug. 04, 2022 | |
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 | Q2 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 000-49842 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 77-0556376 | |
Entity Address, Address Line One | 15245 Shady Grove Road, Suite 400 | |
Entity Address, City or Town | Rockville | |
Entity Address, State or Province | MD | |
Entity Address, Postal Zip Code | 20850 | |
City Area Code | 240 | |
Local Phone Number | 308-8328 | |
Title of 12(b) Security | Common Stock, $.001 per share | |
Trading Symbol | CEVA | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 23,231,591 |
Interim Condensed Consolidated
Interim Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 19,289 | $ 33,153 |
Short-term bank deposits | 15,787 | 31,410 |
Marketable securities | 102,972 | 90,298 |
Trade receivables (net of allowance for credit losses of $288 as of June 30, 2022 and December 31, 2021) | 27,962 | 27,449 |
Prepaid expenses and other current assets | 7,562 | 6,670 |
Total current assets | 173,572 | 188,980 |
Long-term assets: | ||
Bank deposits | 8,052 | 0 |
Severance pay fund | 8,604 | 10,175 |
Deferred tax assets, net | 20,629 | 15,850 |
Property and equipment, net | 7,610 | 6,765 |
Operating lease right-of-use assets | 7,767 | 8,827 |
Goodwill | 74,777 | 74,777 |
Intangible assets, net | 12,272 | 14,607 |
Investments in marketable equity securities | 1,103 | 2,919 |
Other long-term assets | 5,021 | 5,759 |
Total long-term assets | 145,835 | 139,679 |
Total assets | 319,407 | 328,659 |
Current liabilities: | ||
Trade payables | 2,241 | 1,464 |
Deferred revenues | 4,546 | 8,661 |
Accrued expenses and other payables | 5,400 | 4,030 |
Accrued payroll and related benefits | 16,713 | 18,011 |
Operating lease liabilities | 2,689 | 3,274 |
Total current liabilities | 31,589 | 35,440 |
Long-term liabilities: | ||
Accrued severance pay | 9,182 | 10,551 |
Operating lease liabilities | 4,329 | 5,130 |
Other accrued liabilities | 592 | 806 |
Total long-term liabilities | 14,103 | 16,487 |
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 March 31, 2022 and December 31, 2021. 23,204,274 and 22,984,552 shares outstanding at March 31, 2022 and December 31, 2021, respectively | 23 | 23 |
Additional paid in-capital | 237,379 | 235,386 |
Treasury stock at cost (457,403 and 610,608 shares of common stock at June 30, 2022 and December 31, 2021, respectively) | (11,691) | (13,790) |
Accumulated other comprehensive loss | (4,525) | (372) |
Retained earnings | 52,529 | 55,485 |
Total stockholders’ equity | 273,715 | 276,732 |
Total liabilities and stockholders’ equity | $ 319,407 | $ 328,659 |
Interim Condensed Consolidate_2
Interim Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Allowance for doubtful accounts | $ 288 | $ 288 |
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) | 23,137,757 | 22,984,552 |
Treasury stock, shares (in shares) | 457,403 | 610,608 |
Interim Condensed Consolidate_3
Interim Condensed Consolidated Statements of Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Revenues: | ||||
Revenues | $ 33,195 | $ 30,457 | $ 67,586 | $ 55,859 |
Cost of revenues | 6,825 | 3,693 | 13,229 | 6,074 |
Gross profit | 26,370 | 26,764 | 54,357 | 49,785 |
Operating expenses: | ||||
Research and development, net | 19,538 | 17,457 | 39,748 | 35,050 |
Sales and marketing | 2,723 | 2,893 | 5,646 | 6,195 |
General and administrative | 3,635 | 4,159 | 7,271 | 7,039 |
Amortization of intangible assets | 750 | 667 | 1,500 | 1,243 |
Total operating expenses | 26,646 | 25,176 | 54,165 | 49,527 |
Operating income (loss) | (276) | 1,588 | 192 | 258 |
Financial income, net | 413 | 356 | 695 | 392 |
Remeasurement of marketable equity securities | (685) | 0 | (1,816) | 0 |
Income (loss) before taxes on income | (548) | 1,944 | (929) | 650 |
Income tax expense | 575 | 1,629 | 1,890 | 3,965 |
Net income (loss) | $ (1,123) | $ 315 | $ (2,819) | $ (3,315) |
Basic net income (loss) per share (in dollars per share) | $ (0.05) | $ 0.01 | $ (0.12) | $ (0.15) |
Diluted net income (loss) per share (in dollars per share) | $ (0.05) | $ 0.01 | $ (0.12) | $ (0.15) |
Weighted-average shares used to compute net income (loss) per share (in thousands): | ||||
Basic (in shares) | 23,174 | 22,823 | 23,139 | 22,685 |
Diluted (in shares) | 23,174 | 23,140 | 23,139 | 22,685 |
License [Member] | ||||
Revenues: | ||||
Revenues | $ 22,123 | $ 15,535 | $ 44,516 | $ 29,932 |
Royalty [Member] | ||||
Revenues: | ||||
Revenues | $ 11,072 | $ 14,922 | $ 23,070 | $ 25,927 |
Interim Condensed Consolidate_4
Interim Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net income (loss) | $ (1,123) | $ 315 | $ (2,819) | $ (3,315) |
Available-for-sale securities: | ||||
Changes in unrealized gains (losses) | (1,793) | 173 | (4,632) | (284) |
Reclassification adjustments for (gains) losses included in net income (loss) | 21 | (15) | 21 | (15) |
Net change | (1,772) | 158 | (4,611) | (299) |
Cash flow hedges: | ||||
Derivatives designated as cash flow hedging instruments | (1,402) | 86 | (1,400) | 36 |
Reclassification adjustments for (gains) losses included in net income (loss) | 632 | (58) | 742 | (36) |
Net change | (770) | 28 | (658) | 0 |
Other comprehensive income (loss) before tax | (2,542) | 186 | (5,269) | (299) |
Income tax expense (benefit) related to components of other comprehensive income (loss) | (455) | 40 | (1,116) | (60) |
Other comprehensive income (loss), net of taxes | (2,087) | 146 | (4,153) | (239) |
Comprehensive income (loss) | $ (3,210) | $ 461 | $ (6,972) | $ (3,554) |
Interim Condensed Consolidate_5
Interim Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - 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, 2020 | 22,260,917 | |||||
Balance at Dec. 31, 2020 | $ 478 | $ 22 | $ 233,172 | $ (30,133) | $ 57,350 | $ 260,889 |
Net loss | 0 | 0 | 0 | 0 | (3,315) | (3,315) |
Other comprehensive income (loss) | (239) | 0 | 0 | 0 | 0 | (239) |
Equity-based compensation | 0 | $ 0 | 6,104 | 0 | 0 | $ 6,104 |
Purchase of treasury stock (in shares) | 0 | |||||
Issuance of treasury stock upon exercise of stock-based awards (in shares) | 572,203 | |||||
Issuance of treasury stock upon exercise of stock-based awards | 0 | $ 1 | (9,193) | 12,923 | (2,154) | $ 1,577 |
Balance (in shares) at Jun. 30, 2021 | 22,833,120 | |||||
Balance at Jun. 30, 2021 | 239 | $ 23 | 230,083 | (17,210) | 51,881 | 265,016 |
Balance (in shares) at Mar. 31, 2021 | 22,811,090 | |||||
Balance at Mar. 31, 2021 | 93 | $ 23 | 227,671 | (17,708) | 51,570 | 261,649 |
Net loss | 0 | 0 | 0 | 0 | 315 | 315 |
Other comprehensive income (loss) | 146 | 0 | 0 | 0 | 0 | 146 |
Equity-based compensation | 0 | $ 0 | 2,906 | 0 | 0 | $ 2,906 |
Purchase of treasury stock (in shares) | 0 | |||||
Issuance of treasury stock upon exercise of stock-based awards (in shares) | 22,030 | |||||
Issuance of treasury stock upon exercise of stock-based awards | 0 | $ 0 | (494) | 498 | (4) | $ 0 |
Balance (in shares) at Jun. 30, 2021 | 22,833,120 | |||||
Balance at Jun. 30, 2021 | 239 | $ 23 | 230,083 | (17,210) | 51,881 | 265,016 |
Balance (in shares) at Dec. 31, 2021 | 22,984,552 | |||||
Balance at Dec. 31, 2021 | (372) | $ 23 | 235,386 | (13,790) | 55,485 | 276,732 |
Net loss | 0 | 0 | 0 | 0 | (2,819) | (2,819) |
Other comprehensive income (loss) | (4,153) | 0 | 0 | 0 | 0 | (4,153) |
Equity-based compensation | 0 | $ 0 | 6,692 | 0 | 0 | $ 6,692 |
Purchase of treasury stock (in shares) | (136,091) | 136,091 | ||||
Purchase of treasury stock | 0 | $ 0 | 0 | (4,457) | 0 | $ (4,457) |
Issuance of treasury stock upon exercise of stock-based awards (in shares) | 289,296 | |||||
Issuance of treasury stock upon exercise of stock-based awards | 0 | $ 0 | (4,699) | 6,556 | (137) | 1,720 |
Balance (in shares) at Jun. 30, 2022 | 23,137,757 | |||||
Balance at Jun. 30, 2022 | (4,525) | $ 23 | 237,379 | (11,691) | 52,529 | 273,715 |
Balance (in shares) at Mar. 31, 2022 | 23,204,274 | |||||
Balance at Mar. 31, 2022 | (2,438) | $ 23 | 235,563 | (8,828) | 53,759 | 278,079 |
Net loss | 0 | 0 | 0 | 0 | (1,123) | (1,123) |
Other comprehensive income (loss) | (2,087) | 0 | 0 | 0 | 0 | (2,087) |
Equity-based compensation | 0 | $ 0 | 3,303 | 0 | 0 | $ 3,303 |
Purchase of treasury stock (in shares) | (136,091) | 136,091 | ||||
Purchase of treasury stock | 0 | $ 0 | 0 | (4,457) | 0 | $ (4,457) |
Issuance of treasury stock upon exercise of stock-based awards (in shares) | 69,574 | |||||
Issuance of treasury stock upon exercise of stock-based awards | 0 | $ 0 | (1,487) | 1,594 | (107) | 0 |
Balance (in shares) at Jun. 30, 2022 | 23,137,757 | |||||
Balance at Jun. 30, 2022 | $ (4,525) | $ 23 | $ 237,379 | $ (11,691) | $ 52,529 | $ 273,715 |
Interim Condensed Consolidate_6
Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash flows from operating activities: | ||
Net loss | $ (2,819) | $ (3,315) |
Adjustments required to reconcile net loss to net cash provided by operating activities: | ||
Depreciation | 1,594 | 1,636 |
Amortization of intangible assets | 2,335 | 1,383 |
Equity-based compensation | 6,692 | 6,104 |
Realized loss (gain), net on sale of available-for-sale marketable securities | 21 | (15) |
Amortization of premiums on available-for-sale marketable securities | 232 | 233 |
Unrealized foreign exchange loss | 148 | 371 |
Remeasurement of marketable equity securities | 1,816 | 0 |
Changes in operating assets and liabilities: | ||
Trade receivables | (516) | 6,479 |
Prepaid expenses and other assets | (1,124) | 566 |
Operating lease right-of-use assets | 1,060 | 841 |
Accrued interest on bank deposits | 124 | 82 |
Deferred tax, net | (3,663) | (2,205) |
Trade payables | 460 | 971 |
Deferred revenues | (4,115) | 774 |
Accrued expenses and other payables | 747 | (188) |
Accrued payroll and related benefits | (490) | (4,127) |
Operating lease liability | (1,062) | (875) |
Accrued severance pay, net | 271 | (284) |
Net cash provided by operating activities | 1,711 | 8,431 |
Cash flows from investing activities: | ||
Acquisition of subsidiary, net of cash acquired | 0 | (30,364) |
Purchase of property and equipment | (2,103) | (1,260) |
Investment in bank deposits | (12,000) | 0 |
Proceeds from bank deposits | 19,385 | 14,489 |
Investment in available-for-sale marketable securities | (27,260) | (14,445) |
Proceeds from maturity of available-for-sale marketable securities | 6,796 | 17,323 |
Proceeds from sale of available-for-sale marketable securities | 2,926 | 10,035 |
Net cash used in investing activities | (12,256) | (4,222) |
Cash flows from financing activities: | ||
Purchase of treasury stock | (4,457) | 0 |
Proceeds from exercise of stock-based awards | 1,720 | 1,577 |
Net cash provided by (used in) financing activities | (2,737) | 1,577 |
Effect of exchange rate changes on cash and cash equivalents | (582) | (223) |
Increase (decrease) in cash and cash equivalents | (13,864) | 5,563 |
Cash and cash equivalents at the beginning of the period | 33,153 | 21,143 |
Cash and cash equivalents at the end of the period | 19,289 | 26,706 |
Supplemental information of cash-flow activities: | ||
Income and withholding taxes | 4,977 | 4,711 |
Non-cash transactions: | ||
Property and equipment purchases incurred but unpaid at period end | 336 | 100 |
Right-of-use assets obtained in the exchange for operating lease liabilities | $ 444 | $ 578 |
Note 1 - Business
Note 1 - Business | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | NOTE 1: The financial information in this quarterly report includes the results of CEVA, Inc. and its subsidiaries (the “Company” or “CEVA”). CEVA licenses a family of wireless connectivity and smart sensing technologies and co-creation solutions. The Company’s offerings include Digital Signal Processors, AI processors, wireless hardware platforms, security hardware and the related software algorithms including AI for motion sensors, computer vision, voice input and audio, all of which are key enabling technologies for a smarter, more secured 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 address the technology requirements of: 5G 4D 4/5/6/6E 802.11n/ac/ax CEVA’s Intrinsix Corp. (“Intrinsix”) business expands its market reach to the aerospace and defense markets and allows it to offer co-creation 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. |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation and Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | NOTE 2: Basis of Presentation The interim condensed consolidated financial statements have been prepared according to U.S Generally Accepted Accounting Principles (“U.S. GAAP”). The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the three six June 30, 2022, not may December 31, 2022. 10 December 31, 2021. The significant accounting policies applied in the annual consolidated financial statements of the Company as of December 31, 2021, 10 March 1, 2022, Accounting Standards Recently Adopted by the Company In October 2021, No. 2021 08, 805 2021 08 606, 606 No. 2021 08 December 15, 2022, January 1, 2022. not Accounting Standards Recently Issued, Not In June 2022, No. 2022 03, 820 820. December 15, 2023, not Use of Estimates The preparation of the interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company’s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The coronavirus disease 2019 19” may 19 no three six June 30, 2022. may |
Note 3 - Revenue Recognition
Note 3 - Revenue Recognition | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 3: Under ASC 606, 606” 606 The following table includes estimated revenue expected to be recognized in future periods related to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period. The estimated revenues do not Remainder of 2022 2023 2024 Licensing, NRE and related revenues $ 11,679 $ 4,714 $ 1,490 Disaggregation of revenue: The following table provides information about disaggregated revenue by primary geographical market, major product line and timing of revenue recognition: Six months ended June 30, 2022 (unaudited) Three months ended June 30, 2022 (unaudited) Licensing, NRE and related revenues Royalties Total Licensing, NRE and related revenues Royalties Total Primary geographical markets United States $ 9,637 $ 4,100 $ 13,737 $ 5,162 $ 1,829 $ 6,991 Europe and Middle East 2,534 1,340 3,874 2,097 675 2,772 Asia Pacific 32,345 17,630 49,975 14,864 8,568 23,432 Total $ 44,516 $ 23,070 $ 67,586 $ 22,123 $ 11,072 $ 33,195 Major product/service lines Connectivity products (baseband for handset and other devices, Bluetooth, Wi-Fi, NB-IoT and SATA/SAS) $ 32,810 $ 17,262 $ 50,072 $ 15,995 $ 8,200 $ 24,195 Smart sensing products (AI, sensor fusion, audio/sound and imaging and vision) 11,706 5,808 17,514 6,128 2,872 9,000 Total $ 44,516 $ 23,070 $ 67,586 $ 22,123 $ 11,072 $ 33,195 Timing of revenue recognition Products transferred at a point in time $ 30,776 $ 23,070 $ 53,846 $ 14,844 $ 11,072 $ 25,916 Products and services transferred over time 13,740 — 13,740 7,279 — 7,279 Total $ 44,516 $ 23,070 $ 67,586 $ 22,123 $ 11,072 $ 33,195 Six months ended June 30, 2021 (unaudited) Three months ended June 30, 2021 (unaudited) Licensing, NRE and related revenues Royalties Total Licensing, NRE and related revenues Royalties Total Primary geographical markets United States $ 5,294 $ 5,204 $ 10,498 $ 4,722 $ 1,826 $ 6,548 Europe and Middle East 833 1,172 2,005 410 496 906 Asia Pacific 23,805 19,551 43,356 10,403 12,600 23,003 Total $ 29,932 $ 25,927 $ 55,859 $ 15,535 $ 14,922 $ 30,457 Major product/service lines Connectivity products (baseband for handset and other devices, Bluetooth, Wi-Fi, NB-IoT and SATA/SAS) $ 22,518 $ 20,192 $ 42,710 $ 9,713 $ 12,087 $ 21,800 Smart sensing products (AI, sensor fusion, audio/sound and imaging and vision) 7,414 5,735 13,149 5,822 2,835 8,657 Total $ 29,932 $ 25,927 $ 55,859 $ 15,535 $ 14,922 $ 30,457 Timing of revenue recognition Products transferred at a point in time $ 24,052 $ 25,927 $ 49,979 $ 12,064 $ 14,922 $ 26,986 Products and services transferred over time 5,880 — 5,880 3,471 — 3,471 Total $ 29,932 $ 25,927 $ 55,859 $ 15,535 $ 14,922 $ 30,457 Contract balances: The following table provides information about trade receivables, unbilled receivables and contract liabilities from contracts with customers: June 30, 2022 (unaudited) December 31, 2021 Trade receivables $ 16,013 $ 14,644 Unbilled receivables (associated with licensing, NRE and related revenue) 2,143 1,833 Unbilled receivables (associated with royalties) 9,806 10,972 Deferred revenues (short-term contract liabilities) 4,546 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, NRE and other include amounts related to the Company’s contractual right to consideration for completed performance objectives not not During the three six June 30, 2022, January 1, 2022. |
Note 4 - Leases
Note 4 - Leases | 6 Months Ended |
Jun. 30, 2022 | |
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 2023 2034. one not not The following is a summary of weighted average remaining lease terms and discount rates for all of the Company’s operating leases: June 30, 2022 (Unaudited) Weighted average remaining lease term (years) 4.98 Weighted average discount rates 1.97 % Total operating lease cost and cash payments for operating leases were as follows: Six months ended June 30, Three months ended June 30, 2022 (unaudited) 2021 (unaudited) 2022 (unaudited) 2021 (unaudited) Operating lease cost $ 1,643 $ 1,499 $ 843 $ 758 Cash payments for operating leases 1,616 1,598 786 799 Maturities of lease liabilities are as follows: The remainder of 2022 $ 1,646 2023 1,709 2024 923 2025 802 2026 742 2027 and thereafter 1,556 Total undiscounted cash flows 7,378 Less imputed interest 360 Present value of lease liabilities $ 7,018 |
Note 5 - Marketable Securities
Note 5 - Marketable Securities | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Cash, Cash Equivalents, and Marketable Securities [Text Block] | NOTE 5: The following is a summary of available-for-sale marketable securities: June 30, 2022 (Unaudited) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Available-for-sale - matures within one year: Corporate bonds $ 8,756 $ 2 $ (23 ) $ 8,735 Available-for-sale - matures after one year through five years: Corporate bonds 99,386 — (5,149 ) 94,237 Total $ 108,142 $ 2 $ (5,172 ) $ 102,972 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 The following table presents gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2022, December 31, 2021, Less than 12 months 12 months or greater Fair value Gross unrealized loss Fair value Gross unrealized loss As of June 30, 2022 (unaudited) $ 82,144 $ (3,264 ) $ 20,328 $ (1,908 ) As of December 31, 2021 $ 53,412 $ (667 ) $ 12,039 $ (158 ) As of June 30, 2022, not The following table presents gross realized gains and losses from sale of available-for-sale marketable securities: Six months ended June 30, Three months ended June 30, 2022 (unaudited) 2021 (unaudited) 2022 (unaudited) 2021 (unaudited) Gross realized gains from sale of available-for-sale marketable securities $ — $ 43 $ — $ 43 Gross realized losses from sale of available-for-sale marketable securities $ (21 ) $ (28 ) $ (21 ) $ (28 ) |
Note 6 - Fair Value Measurement
Note 6 - Fair Value Measurement | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 6: 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, investment in marketable equity securities and foreign currency derivative contracts at fair value. The carrying amount of cash, cash equivalents, short-term bank deposits, trade receivables, other accounts receivable, trade payables and other accounts payables approximate fair value due to the short-term maturity of these instruments. Investment 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 and liabilities measured at fair value by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Description June 30, 2022 (unaudited) Level I (unaudited) Level II (unaudited) Level III (unaudited) Assets: Marketable securities: Corporate bonds $ 102,972 $ — $ 102,972 $ — Investments in marketable equity securities 1,103 1,103 — — Liabilities: Foreign exchange contract 595 — 595 — 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 — — |
Note 7 - Intangible Assets, Net
Note 7 - Intangible Assets, Net | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | NOTE 7: Six months ended June 30, 2022 (unaudited) 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 Customer relationships 5.5 $ 3,604 $ 710 $ 2,894 $ 3,604 $ 382 $ 3,222 Customer backlog 1.5 421 304 117 421 164 257 Patents 5.0 218 47 171 218 26 192 Core technologies 3.0 3,329 1,202 2,127 3,329 647 2,682 Intangible assets related to the acquisition of Hillcrest Labs business Customer relationships 4.4 3,518 2,564 954 3,518 2,130 1,388 Customer backlog 0.5 72 72 — 72 72 — R&D Tools 7.5 2,475 975 1,500 2,475 810 1,665 Intangible assets related to Immervision assets acquisition R&D Tools 6.4 7,063 3,231 3,832 7,063 2,679 4,384 Intangible assets related to an investment in NB-IoT technologies NB-IoT technologies (*) 7.0 1,961 1,284 677 1,961 1,144 817 Total intangible assets $ 22,661 $ 10,389 $ 12,272 $ 22,661 $ 8,054 $ 14,607 (*) During the first 2018, not not June 30, 2022. 2019 Future estimated annual amortization charges are as follows: 2022 2,312 2023 3,714 2024 3,013 2025 2,262 2026 956 2027 and thereafter 15 $ 12,272 |
Note 8 - Geographic Information
Note 8 - Geographic Information and Major Customer Data | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 8: a. Summary information about geographic areas: The Company manages its business on the basis of one reportable segment: the licensing of intellectual property and co-creation solutions to semiconductor companies and electronic equipment manufacturers (see Note 1 Six months ended June 30, Three months ended June 30, 2022 (unaudited) 2021 (unaudited) 2022 (unaudited) 2021 (unaudited) Revenues based on customer location: United States $ 13,737 $ 10,498 $ 6,991 $ 6,548 Europe and Middle East 3,874 2,005 2,772 906 Asia Pacific (1) 49,975 43,356 23,432 23,003 $ 67,586 $ 55,859 $ 33,195 $ 30,457 (1) China $ 41,572 $ 36,448 $ 18,601 $ 19,189 b. Major customer data as a percentage of total revenues: The following table sets forth the customers that represented 10% Six months ended June 30, Three months ended June 30, 2022 (unaudited) 2021 (unaudited) 2022 (unaudited) 2021 (unaudited) Customer A 11 % 21 % 11 % 27 % Customer B *) 10 % *) *) *) Less than 10% |
Note 9 - Net Income (Loss) Per
Note 9 - Net Income (Loss) Per Share of Common Stock | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 9: Basic net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during each period. Diluted net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during each period, plus dilutive potential shares of common stock considered outstanding during the period, in accordance with FASB ASC No. 260, Six months ended June 30, Three months ended June 30, 2022 (unaudited) 2021 (unaudited) 2022 (unaudited) 2021 (unaudited) Numerator: Net income (loss) $ (2,819 ) $ (3,315 ) $ (1,123 ) $ 315 Denominator (in thousands): Basic weighted-average common stock outstanding 23,139 22,685 23,174 22,823 Effect of stock -based awards — — — 317 Diluted weighted average common stock outstanding 23,139 22,685 23,174 23,140 Basic net income (loss) per share $ (0.12 ) $ (0.15 ) $ (0.05 ) $ 0.01 Diluted net income (loss) per share $ (0.12 ) $ (0.15 ) $ (0.05 ) $ 0.01 The total number of shares related to outstanding equity-based awards was 915,698 for both the three six June 30, 2022, three June 30, 2021. six June 30, 2021. |
Note 10 - Common Stock and Stoc
Note 10 - Common Stock and Stock-based Compensation Plans | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | NOTE 10: The Company grants a mix of stock options, stock appreciation rights (“SARs”) capped with a ceiling and restricted stock units (“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, one four A summary of the Company’s stock option and SAR activities and related information for the six June 30, 2022, Number of options and SAR units (1) Weighted average exercise price Weighted average remaining contractual term Aggregate intrinsic value Outstanding as of December 31, 2021 126,000 $ 20.06 2.6 $ 2,921 Granted — — Exercised (17,000 ) 18.08 Forfeited or expired — — Outstanding as of June 30, 2022 (2) 109,000 $ 20.37 2.5 $ 1,438 Exercisable as of June 30, 2022 (3) 109,000 $ 20.37 2.5 $ 1,438 ( 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 108,250 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 108,250 shares of the Company’s common stock issuable upon exercise. As of June 30, 2022, An 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 February 14, 2022, February 17, 2022, 2011 “2011 February 17, 2023, February 17, 2024 February 17, 2025. Also, on February 14, 2022, February 17, 2022, 2011 Weighting Goals 50% Vesting of the full 50% of the PSUs occurs if the Company achieves the 2022 “2022 2022 90% 2022 2022 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 2022 S&P500 2022 S&P500 S&P500, S&P500 S&P500 S&P500 Additionally, PSUs representing an additional 20%, meaning an additional 2,981, 795, 994 and 795, would be eligible for vesting for each of the Company’s CEO, Executive Vice President, Worldwide Sales, Chief Financial Officer and Chief Operating Officer, respectively, if the performance goals set forth above are exceeded. Subject to achievement of the thresholds the above performance goals for 2022 February 17, 2023, February 17, 2024, February 17, 2025. A summary of the Company’s RSU and PSU activities and related information for the six June 30, 2022, Number of RSUs and PSUs Weighted Average Grant-Date Fair Value Unvested as of December 31, 2021 688,073 $ 41.18 Granted 413,619 36.15 Vested (226,607 ) 36.09 Forfeited or expired (68,387 ) 46.17 Unvested as of June 30, 2022 (unaudited) 806,698 $ 39.73 As of June 30, 2022, The following table shows the total equity-based compensation expense included in the interim condensed consolidated statements of income (loss): Six months ended June 30, Three months ended June 30, 2022 (unaudited) 2021 (unaudited) 2022 (unaudited) 2021 (unaudited) Cost of revenue $ 683 $ 262 $ 344 $ 119 Research and development, net 4,001 3,428 2,006 1,743 Sales and marketing 673 785 340 367 General and administrative 1,335 1,629 613 677 Total equity-based compensation expense $ 6,692 $ 6,104 $ 3,303 $ 2,906 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: Six months ended June 30, 2022 (unaudited) 2021 (unaudited) Expected dividend yield 0% 0% Expected volatility 38% 39% - 56% Risk-free interest rate 0.5% 0.1% - 1.7% Contractual term of up to (months) 24 24 The Company did not 2002 three June 30, 2022 2021. |
Note 11 - Derivatives and Hedgi
Note 11 - Derivatives and Hedging Activities | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 11: The Company follows the requirements of FASB ASC No. 815,” one twelve For derivative instruments that are designated and qualify as a cash flow hedge (i.e., hedging the exposure to variability in expected future cash flows that is attributable to a particular risk), the gain or loss on the derivative instrument is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. As of June 30, 2022, December 31, 2021, The fair value of the Company’s outstanding derivative instruments is as follows: June 30, 2022 (unaudited) December 31, 2021 Derivative assets: Derivatives designated as cash flow hedging instruments: Foreign exchange forward contracts $ — $ 63 Total $ — $ 63 Derivative liabilities: Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ 224 $ — Foreign exchange forward contracts 371 — Total $ 595 $ — The increase (decrease) in unrealized gains (losses) recognized in “accumulated other comprehensive gain (loss)” on derivatives, before tax effect, is as follows: Six months ended June 30, Three months ended June 30, 2022 (unaudited) 2021 (unaudited) 2022 (unaudited) 2021 (unaudited) Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ (401 ) $ — $ (401 ) $ 1 Foreign exchange forward contracts (999 ) 36 (1,001 ) 85 $ (1,400 ) $ 36 $ (1,402 ) $ 86 The net (gains) losses reclassified from “accumulated other comprehensive gain (loss)” into income are as follows: Six months ended June 30, Three months ended June 30, 2022 (unaudited) 2021 (unaudited) 2022 (unaudited) 2021 (unaudited) Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ 177 $ — $ 177 $ — Foreign exchange forward contracts 565 (36 ) 455 (58 ) $ 742 $ (36 ) $ 632 $ (58 ) The Company recorded in cost of revenues and operating expenses a net loss of $632 and $742 during the three six June 30, 2022, 2021, |
Note 12 - Accumulated Other Com
Note 12 - Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 12: ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables summarize the changes in accumulated balances of other comprehensive income (loss), net of taxes: Six months ended June 30, 2022 (unaudited) Three months ended June 30, 2022 (unaudited) 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 $ (427 ) $ 55 $ (372 ) $ (2,594 ) $ 156 $ (2,438 ) Other comprehensive loss before reclassifications (3,597 ) (1,221 ) (4,818 ) (1,430 ) (1,225 ) (2,655 ) Amounts reclassified from accumulated other comprehensive income (loss) 17 648 665 17 551 568 Net current period other comprehensive loss (3,580 ) (573 ) (4,153 ) (1,413 ) (674 ) (2,087 ) Ending balance $ (4,007 ) $ (518 ) $ (4,525 ) $ (4,007 ) $ (518 ) $ (4,525 ) Six months ended June 30, 2021 (unaudited) Three months ended June 30, 2021 (unaudited) 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 $ 478 $ — $ 478 $ 118 $ (25 ) $ 93 Other comprehensive income (loss) before reclassifications (224 ) 32 (192 ) 136 76 212 Amounts reclassified from accumulated other comprehensive income (loss) (15 ) (32 ) (47 ) (15 ) (51 ) (66 ) Net current period other comprehensive income (loss) (239 ) — (239 ) 121 25 146 Ending balance $ 239 $ — $ 239 $ 239 $ — $ 239 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) Six months ended June 30, Three months ended June 30, 2022 (unaudited) 2021 (unaudited) 2022 (unaudited) 2021 (unaudited) Unrealized gains (losses) on cash flow hedges $ (13 ) $ 1 $ (11 ) $ 1 Cost of revenues (647 ) 32 (551 ) 51 Research and development (18 ) 1 (15 ) 2 Sales and marketing (64 ) 2 (55 ) 4 General and administrative (742 ) 36 (632 ) 58 Total, before income taxes (94 ) 4 (81 ) 7 Income tax expense (benefit) (648 ) 32 (551 ) 51 Total, net of income taxes Unrealized gains (losses) on available-for-sale marketable securities (21 ) 15 (21 ) 15 Financial income (loss), net (4 ) — (4 ) — Income tax benefit (17 ) 15 (17 ) 15 Total, net of income taxes $ (665 ) $ 47 $ (568 ) $ 66 Total, net of income taxes |
Note 13 - Share Repurchase Prog
Note 13 - Share Repurchase Program | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Treasury Stock [Text Block] | NOTE 13: During the three six June 30, 2022, not three six June 30, 2021. June 30, 2022, The repurchases of common stock are accounted for as treasury stock, and result in a reduction of stockholders’ equity. When treasury shares are reissued, the Company accounts for the reissuance in accordance with FASB ASC No. 505 30, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The interim condensed consolidated financial statements have been prepared according to U.S Generally Accepted Accounting Principles (“U.S. GAAP”). The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the three six June 30, 2022, not may December 31, 2022. 10 December 31, 2021. The significant accounting policies applied in the annual consolidated financial statements of the Company as of December 31, 2021, 10 March 1, 2022, |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Standards Recently Adopted by the Company In October 2021, No. 2021 08, 805 2021 08 606, 606 No. 2021 08 December 15, 2022, January 1, 2022. not Accounting Standards Recently Issued, Not In June 2022, No. 2022 03, 820 820. December 15, 2023, not |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of the interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company’s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The coronavirus disease 2019 19” may 19 no three six June 30, 2022. may |
Note 3 - Revenue Recognition (T
Note 3 - Revenue Recognition (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | Remainder of 2022 2023 2024 Licensing, NRE and related revenues $ 11,679 $ 4,714 $ 1,490 |
Disaggregation of Revenue [Table Text Block] | Six months ended June 30, 2022 (unaudited) Three months ended June 30, 2022 (unaudited) Licensing, NRE and related revenues Royalties Total Licensing, NRE and related revenues Royalties Total Primary geographical markets United States $ 9,637 $ 4,100 $ 13,737 $ 5,162 $ 1,829 $ 6,991 Europe and Middle East 2,534 1,340 3,874 2,097 675 2,772 Asia Pacific 32,345 17,630 49,975 14,864 8,568 23,432 Total $ 44,516 $ 23,070 $ 67,586 $ 22,123 $ 11,072 $ 33,195 Major product/service lines Connectivity products (baseband for handset and other devices, Bluetooth, Wi-Fi, NB-IoT and SATA/SAS) $ 32,810 $ 17,262 $ 50,072 $ 15,995 $ 8,200 $ 24,195 Smart sensing products (AI, sensor fusion, audio/sound and imaging and vision) 11,706 5,808 17,514 6,128 2,872 9,000 Total $ 44,516 $ 23,070 $ 67,586 $ 22,123 $ 11,072 $ 33,195 Timing of revenue recognition Products transferred at a point in time $ 30,776 $ 23,070 $ 53,846 $ 14,844 $ 11,072 $ 25,916 Products and services transferred over time 13,740 — 13,740 7,279 — 7,279 Total $ 44,516 $ 23,070 $ 67,586 $ 22,123 $ 11,072 $ 33,195 Six months ended June 30, 2021 (unaudited) Three months ended June 30, 2021 (unaudited) Licensing, NRE and related revenues Royalties Total Licensing, NRE and related revenues Royalties Total Primary geographical markets United States $ 5,294 $ 5,204 $ 10,498 $ 4,722 $ 1,826 $ 6,548 Europe and Middle East 833 1,172 2,005 410 496 906 Asia Pacific 23,805 19,551 43,356 10,403 12,600 23,003 Total $ 29,932 $ 25,927 $ 55,859 $ 15,535 $ 14,922 $ 30,457 Major product/service lines Connectivity products (baseband for handset and other devices, Bluetooth, Wi-Fi, NB-IoT and SATA/SAS) $ 22,518 $ 20,192 $ 42,710 $ 9,713 $ 12,087 $ 21,800 Smart sensing products (AI, sensor fusion, audio/sound and imaging and vision) 7,414 5,735 13,149 5,822 2,835 8,657 Total $ 29,932 $ 25,927 $ 55,859 $ 15,535 $ 14,922 $ 30,457 Timing of revenue recognition Products transferred at a point in time $ 24,052 $ 25,927 $ 49,979 $ 12,064 $ 14,922 $ 26,986 Products and services transferred over time 5,880 — 5,880 3,471 — 3,471 Total $ 29,932 $ 25,927 $ 55,859 $ 15,535 $ 14,922 $ 30,457 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | June 30, 2022 (unaudited) December 31, 2021 Trade receivables $ 16,013 $ 14,644 Unbilled receivables (associated with licensing, NRE and related revenue) 2,143 1,833 Unbilled receivables (associated with royalties) 9,806 10,972 Deferred revenues (short-term contract liabilities) 4,546 8,661 |
Note 4 - Leases (Tables)
Note 4 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Lease, Cost [Table Text Block] | June 30, 2022 (Unaudited) Weighted average remaining lease term (years) 4.98 Weighted average discount rates 1.97 % Six months ended June 30, Three months ended June 30, 2022 (unaudited) 2021 (unaudited) 2022 (unaudited) 2021 (unaudited) Operating lease cost $ 1,643 $ 1,499 $ 843 $ 758 Cash payments for operating leases 1,616 1,598 786 799 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | The remainder of 2022 $ 1,646 2023 1,709 2024 923 2025 802 2026 742 2027 and thereafter 1,556 Total undiscounted cash flows 7,378 Less imputed interest 360 Present value of lease liabilities $ 7,018 |
Note 5 - Marketable Securities
Note 5 - Marketable Securities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] | June 30, 2022 (Unaudited) Amortized cost Gross unrealized gains Gross unrealized losses Fair value Available-for-sale - matures within one year: Corporate bonds $ 8,756 $ 2 $ (23 ) $ 8,735 Available-for-sale - matures after one year through five years: Corporate bonds 99,386 — (5,149 ) 94,237 Total $ 108,142 $ 2 $ (5,172 ) $ 102,972 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 |
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 June 30, 2022 (unaudited) $ 82,144 $ (3,264 ) $ 20,328 $ (1,908 ) As of December 31, 2021 $ 53,412 $ (667 ) $ 12,039 $ (158 ) |
Schedule of Realized Gain (Loss) [Table Text Block] | Six months ended June 30, Three months ended June 30, 2022 (unaudited) 2021 (unaudited) 2022 (unaudited) 2021 (unaudited) Gross realized gains from sale of available-for-sale marketable securities $ — $ 43 $ — $ 43 Gross realized losses from sale of available-for-sale marketable securities $ (21 ) $ (28 ) $ (21 ) $ (28 ) |
Note 6 - Fair Value Measureme_2
Note 6 - Fair Value Measurement (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Description June 30, 2022 (unaudited) Level I (unaudited) Level II (unaudited) Level III (unaudited) Assets: Marketable securities: Corporate bonds $ 102,972 $ — $ 102,972 $ — Investments in marketable equity securities 1,103 1,103 — — Liabilities: Foreign exchange contract 595 — 595 — 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 — — |
Note 7 - Intangible Assets, N_2
Note 7 - Intangible Assets, Net (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Six months ended June 30, 2022 (unaudited) 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 Customer relationships 5.5 $ 3,604 $ 710 $ 2,894 $ 3,604 $ 382 $ 3,222 Customer backlog 1.5 421 304 117 421 164 257 Patents 5.0 218 47 171 218 26 192 Core technologies 3.0 3,329 1,202 2,127 3,329 647 2,682 Intangible assets related to the acquisition of Hillcrest Labs business Customer relationships 4.4 3,518 2,564 954 3,518 2,130 1,388 Customer backlog 0.5 72 72 — 72 72 — R&D Tools 7.5 2,475 975 1,500 2,475 810 1,665 Intangible assets related to Immervision assets acquisition R&D Tools 6.4 7,063 3,231 3,832 7,063 2,679 4,384 Intangible assets related to an investment in NB-IoT technologies NB-IoT technologies (*) 7.0 1,961 1,284 677 1,961 1,144 817 Total intangible assets $ 22,661 $ 10,389 $ 12,272 $ 22,661 $ 8,054 $ 14,607 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2022 2,312 2023 3,714 2024 3,013 2025 2,262 2026 956 2027 and thereafter 15 $ 12,272 |
Note 8 - Geographic Informati_2
Note 8 - Geographic Information and Major Customer Data (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Revenue from External Customers by Geographic Areas [Table Text Block] | Six months ended June 30, Three months ended June 30, 2022 (unaudited) 2021 (unaudited) 2022 (unaudited) 2021 (unaudited) Revenues based on customer location: United States $ 13,737 $ 10,498 $ 6,991 $ 6,548 Europe and Middle East 3,874 2,005 2,772 906 Asia Pacific (1) 49,975 43,356 23,432 23,003 $ 67,586 $ 55,859 $ 33,195 $ 30,457 (1) China $ 41,572 $ 36,448 $ 18,601 $ 19,189 |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Six months ended June 30, Three months ended June 30, 2022 (unaudited) 2021 (unaudited) 2022 (unaudited) 2021 (unaudited) Customer A 11 % 21 % 11 % 27 % Customer B *) 10 % *) *) |
Note 9 - Net Income (Loss) Pe_2
Note 9 - Net Income (Loss) Per Share of Common Stock (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Six months ended June 30, Three months ended June 30, 2022 (unaudited) 2021 (unaudited) 2022 (unaudited) 2021 (unaudited) Numerator: Net income (loss) $ (2,819 ) $ (3,315 ) $ (1,123 ) $ 315 Denominator (in thousands): Basic weighted-average common stock outstanding 23,139 22,685 23,174 22,823 Effect of stock -based awards — — — 317 Diluted weighted average common stock outstanding 23,139 22,685 23,174 23,140 Basic net income (loss) per share $ (0.12 ) $ (0.15 ) $ (0.05 ) $ 0.01 Diluted net income (loss) per share $ (0.12 ) $ (0.15 ) $ (0.05 ) $ 0.01 |
Note 10 - Common Stock and St_2
Note 10 - Common Stock and Stock-based Compensation Plans (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
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 as of December 31, 2021 126,000 $ 20.06 2.6 $ 2,921 Granted — — Exercised (17,000 ) 18.08 Forfeited or expired — — Outstanding as of June 30, 2022 (2) 109,000 $ 20.37 2.5 $ 1,438 Exercisable as of June 30, 2022 (3) 109,000 $ 20.37 2.5 $ 1,438 |
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Number of RSUs and PSUs Weighted Average Grant-Date Fair Value Unvested as of December 31, 2021 688,073 $ 41.18 Granted 413,619 36.15 Vested (226,607 ) 36.09 Forfeited or expired (68,387 ) 46.17 Unvested as of June 30, 2022 (unaudited) 806,698 $ 39.73 |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Six months ended June 30, Three months ended June 30, 2022 (unaudited) 2021 (unaudited) 2022 (unaudited) 2021 (unaudited) Cost of revenue $ 683 $ 262 $ 344 $ 119 Research and development, net 4,001 3,428 2,006 1,743 Sales and marketing 673 785 340 367 General and administrative 1,335 1,629 613 677 Total equity-based compensation expense $ 6,692 $ 6,104 $ 3,303 $ 2,906 |
Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | Six months ended June 30, 2022 (unaudited) 2021 (unaudited) Expected dividend yield 0% 0% Expected volatility 38% 39% - 56% Risk-free interest rate 0.5% 0.1% - 1.7% Contractual term of up to (months) 24 24 |
Note 11 - Derivatives and Hed_2
Note 11 - Derivatives and Hedging Activities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] | June 30, 2022 (unaudited) December 31, 2021 Derivative assets: Derivatives designated as cash flow hedging instruments: Foreign exchange forward contracts $ — $ 63 Total $ — $ 63 Derivative liabilities: Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ 224 $ — Foreign exchange forward contracts 371 — Total $ 595 $ — Six months ended June 30, Three months ended June 30, 2022 (unaudited) 2021 (unaudited) 2022 (unaudited) 2021 (unaudited) Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ (401 ) $ — $ (401 ) $ 1 Foreign exchange forward contracts (999 ) 36 (1,001 ) 85 $ (1,400 ) $ 36 $ (1,402 ) $ 86 |
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Six months ended June 30, Three months ended June 30, 2022 (unaudited) 2021 (unaudited) 2022 (unaudited) 2021 (unaudited) Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ 177 $ — $ 177 $ — Foreign exchange forward contracts 565 (36 ) 455 (58 ) $ 742 $ (36 ) $ 632 $ (58 ) |
Note 12 - Accumulated Other C_2
Note 12 - Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Six months ended June 30, 2022 (unaudited) Three months ended June 30, 2022 (unaudited) 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 $ (427 ) $ 55 $ (372 ) $ (2,594 ) $ 156 $ (2,438 ) Other comprehensive loss before reclassifications (3,597 ) (1,221 ) (4,818 ) (1,430 ) (1,225 ) (2,655 ) Amounts reclassified from accumulated other comprehensive income (loss) 17 648 665 17 551 568 Net current period other comprehensive loss (3,580 ) (573 ) (4,153 ) (1,413 ) (674 ) (2,087 ) Ending balance $ (4,007 ) $ (518 ) $ (4,525 ) $ (4,007 ) $ (518 ) $ (4,525 ) Six months ended June 30, 2021 (unaudited) Three months ended June 30, 2021 (unaudited) 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 $ 478 $ — $ 478 $ 118 $ (25 ) $ 93 Other comprehensive income (loss) before reclassifications (224 ) 32 (192 ) 136 76 212 Amounts reclassified from accumulated other comprehensive income (loss) (15 ) (32 ) (47 ) (15 ) (51 ) (66 ) Net current period other comprehensive income (loss) (239 ) — (239 ) 121 25 146 Ending balance $ 239 $ — $ 239 $ 239 $ — $ 239 |
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) Six months ended June 30, Three months ended June 30, 2022 (unaudited) 2021 (unaudited) 2022 (unaudited) 2021 (unaudited) Unrealized gains (losses) on cash flow hedges $ (13 ) $ 1 $ (11 ) $ 1 Cost of revenues (647 ) 32 (551 ) 51 Research and development (18 ) 1 (15 ) 2 Sales and marketing (64 ) 2 (55 ) 4 General and administrative (742 ) 36 (632 ) 58 Total, before income taxes (94 ) 4 (81 ) 7 Income tax expense (benefit) (648 ) 32 (551 ) 51 Total, net of income taxes Unrealized gains (losses) on available-for-sale marketable securities (21 ) 15 (21 ) 15 Financial income (loss), net (4 ) — (4 ) — Income tax benefit (17 ) 15 (17 ) 15 Total, net of income taxes $ (665 ) $ 47 $ (568 ) $ 66 Total, net of income taxes |
Note 3 - Revenue Recognition (D
Note 3 - Revenue Recognition (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2022 | Jun. 30, 2022 | |
Contract with Customer, Liability, Revenue Recognized | $ 3,812 | $ 7,631 |
Note 3 - Revenue Recognition -
Note 3 - Revenue Recognition - Remaining Performance Obligation 2 (Details) $ in Thousands | Jun. 30, 2022 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 | |
Remaining revenue | $ 11,679 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Remaining revenue | 4,714 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Remaining revenue | $ 1,490 |
Note 3 - Revenue Recognition _2
Note 3 - Revenue Recognition - Remaining Performance Obligation (Details) (Parentheticals) | Jun. 30, 2022 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 | |
Remaining revenue (Year) | 6 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Remaining revenue (Year) | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Remaining revenue (Year) | 1 year |
Note 3 - Revenue Recognition _3
Note 3 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | ||
Revenues | $ 33,195 | $ 30,457 | $ 67,586 | $ 55,859 | |
Transferred at Point in Time [Member] | |||||
Revenues | 25,916 | 26,986 | 53,846 | 49,979 | |
Transferred over Time [Member] | |||||
Revenues | 7,279 | 3,471 | 13,740 | 5,880 | |
Connectivity Products [Member] | |||||
Revenues | 24,195 | 21,800 | 50,072 | 42,710 | |
Smart Sensing Products [Member] | |||||
Revenues | 9,000 | 8,657 | 17,514 | 13,149 | |
License [Member] | |||||
Revenues | 22,123 | 15,535 | 44,516 | 29,932 | |
License [Member] | Transferred at Point in Time [Member] | |||||
Revenues | 14,844 | 12,064 | 30,776 | 24,052 | |
License [Member] | Transferred over Time [Member] | |||||
Revenues | 7,279 | 3,471 | 13,740 | 5,880 | |
License [Member] | Connectivity Products [Member] | |||||
Revenues | 15,995 | 9,713 | 32,810 | 22,518 | |
License [Member] | Smart Sensing Products [Member] | |||||
Revenues | 6,128 | 5,822 | 11,706 | 7,414 | |
Royalty [Member] | |||||
Revenues | 11,072 | 14,922 | 23,070 | 25,927 | |
Royalty [Member] | Transferred at Point in Time [Member] | |||||
Revenues | 11,072 | 14,922 | 23,070 | 25,927 | |
Royalty [Member] | Transferred over Time [Member] | |||||
Revenues | 0 | 0 | |||
Royalty [Member] | Connectivity Products [Member] | |||||
Revenues | 8,200 | 12,087 | 17,262 | 20,192 | |
Royalty [Member] | Smart Sensing Products [Member] | |||||
Revenues | 2,872 | 2,835 | 5,808 | 5,735 | |
UNITED STATES | |||||
Revenues | 6,991 | 6,548 | 13,737 | 10,498 | |
UNITED STATES | License [Member] | |||||
Revenues | 5,162 | 4,722 | 9,637 | 5,294 | |
UNITED STATES | Royalty [Member] | |||||
Revenues | 1,829 | 1,826 | 4,100 | 5,204 | |
Europe and Middle East [Member] | |||||
Revenues | 2,772 | 906 | 3,874 | 2,005 | |
Europe and Middle East [Member] | License [Member] | |||||
Revenues | 2,097 | 410 | 2,534 | 833 | |
Europe and Middle East [Member] | Royalty [Member] | |||||
Revenues | 675 | 496 | 1,340 | 1,172 | |
Asia Pacific [Member] | |||||
Revenues | [1] | 23,432 | 23,003 | 49,975 | 43,356 |
Asia Pacific [Member] | License [Member] | |||||
Revenues | 14,864 | 10,403 | 32,345 | 23,805 | |
Asia Pacific [Member] | Royalty [Member] | |||||
Revenues | $ 8,568 | $ 12,600 | $ 17,630 | $ 19,551 | |
[1]China |
Note 3 - Revenue Recognition _4
Note 3 - Revenue Recognition - Assets and Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Contract with customer liability, balance | $ 4,546 | $ 8,661 |
Trade Receivables [Member] | ||
Contract with customer asset, balance | 16,013 | 14,644 |
Accrued Revenues [Member] | Licensing and Other [Member] | ||
Contract with customer asset, balance | 2,143 | 1,833 |
Accrued Revenues [Member] | Royalty [Member] | ||
Contract with customer asset, balance | 9,806 | 10,972 |
Deferred Revenue [Member] | ||
Contract with customer liability, balance | $ 4,546 | $ 8,661 |
Note 4 - Leases -Lease Cost (De
Note 4 - Leases -Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Weighted average remaining lease term (years) (Year) | 4 years 11 months 23 days | 4 years 11 months 23 days | ||
Weighted average discount rates | 1.97% | 1.97% | ||
Operating lease cost | $ 843 | $ 758 | $ 1,643 | $ 1,499 |
Cash payments for operating leases | $ 786 | $ 799 | $ 1,616 | $ 1,598 |
Note 4 - Leases - Maturities of
Note 4 - Leases - Maturities of Lease Liabilities (Details) $ in Thousands | Jun. 30, 2022 USD ($) |
The remainder of 2022 | $ 1,646 |
2023 | 1,709 |
2024 | 923 |
2025 | 802 |
2026 | 742 |
2027 and thereafter | 1,556 |
Total undiscounted cash flows | 7,378 |
Less imputed interest | 360 |
Present value of lease liabilities | $ 7,018 |
Note 5 - Marketable Securitie_2
Note 5 - Marketable Securities - Available-for-sale Marketable Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Marketable securities | $ 102,972 | $ 90,298 |
Corporate Bonds [Member] | ||
Available-for-sale - matures within one year, Amortized cost | 8,756 | 11,937 |
Available-for-sale - matures within one year, Gross unrealized gains | 2 | 39 |
Available-for-sale - matures within one year, Gross unrealized losses | (23) | (7) |
Available-for-sale - matures within one year, Fair value | 8,735 | 11,969 |
Available-for-sale - matures after one year through five years, Amortized cost | 99,386 | 78,920 |
Available-for-sale - matures after one year through five years, Gross unrealized gains | 0 | 227 |
Available-for-sale - matures after one year through five years, Gross unrealized losses | (5,149) | (818) |
Available-for-sale - matures after one year through five years, Fair value | 94,237 | 78,329 |
Available-for-sale, Amortized cost | 108,142 | 90,857 |
Available-for-sale, Gross unrealized gains | 2 | 266 |
Available-for-sale, Gross unrealized losses | (5,172) | (825) |
Marketable securities | $ 102,972 | $ 90,298 |
Note 5 - Marketable Securitie_3
Note 5 - Marketable Securities - Summary of Gross Unrealized Losses and Fair Values on Investments (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Less than 12 months, Fair value | $ 82,144 | $ 53,412 |
Less than 12 months, Gross unrealized loss | (3,264) | (667) |
12 months or greater, Fair value | 20,328 | 12,039 |
12 months or greater, Gross unrealized loss | $ (1,908) | $ (158) |
Note 5 - Marketable Securitie_4
Note 5 - Marketable Securities - Summary of Gross Realized Gains and Losses from Sale of Available-for-sale Marketable Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Gross realized gains from sale of available-for-sale marketable securities | $ 0 | $ 43 | $ 0 | $ 43 |
Gross realized losses from sale of available-for-sale marketable securities | $ (21) | $ (28) | $ (21) | $ (28) |
Note 6 - Fair Value Measureme_3
Note 6 - Fair Value Measurement - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Corporate bonds | $ 102,972 | $ 90,298 |
Investments in marketable equity securities | 1,103 | 2,919 |
Foreign exchange contract | 595 | 63 |
Fair Value, Inputs, Level 1 [Member] | ||
Investments in marketable equity securities | 1,103 | 2,919 |
Foreign exchange contract | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Investments in marketable equity securities | 0 | 0 |
Foreign exchange contract | 595 | 63 |
Fair Value, Inputs, Level 3 [Member] | ||
Investments in marketable equity securities | 0 | 0 |
Foreign exchange contract | 0 | 0 |
Corporate Bonds [Member] | ||
Corporate bonds | 102,972 | 90,298 |
Corporate Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Corporate bonds | 0 | 0 |
Corporate Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Corporate bonds | 102,972 | 90,298 |
Corporate Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Corporate bonds | $ 0 | $ 0 |
Note 7 - Intangible Assets, N_3
Note 7 - Intangible Assets, Net (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||
Jun. 30, 2022 | Jun. 30, 2021 | Mar. 31, 2018 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2019 | Dec. 31, 2021 | ||||
Finite-Lived Intangible Assets, Gross, Total | $ 22,661 | $ 22,661 | $ 22,661 | |||||||
Amortization of Intangible Assets, Total | 750 | $ 667 | 1,500 | $ 1,243 | ||||||
NB-IoT technologies [Member] | ||||||||||
Finite-lived Intangible Assets Acquired | $ 2,800 | |||||||||
Finite Lived Intangible Assets Acquired, Balance Not Received | 600 | |||||||||
Finite-Lived Intangible Assets, Gross, Total | $ 1,961 | [1] | $ 2,200 | 1,961 | [1] | $ 1,961 | [1] | |||
Intangible Assets Expenditures Incurred but Not yet Paid | $ 210 | |||||||||
Amortization of Intangible Assets, Total | $ 239 | |||||||||
[1]During the first quarter of 2018, the Company entered into an agreement to 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 June 30, 2022. In addition, the Company participated in programs sponsored by the Hong Kong government for the support of the above investment, and as a result, the Company received during 2019 an amount of $239 related to the NB-IoT technologies, which was reduced from the gross carrying amount of intangible assets. The Company recorded the amortization cost of the NB-IoT technologies in “cost of revenues” on the Company’s interim condensed consolidated statements of income (loss). |
Note 7 - Intangible Assets, N_4
Note 7 - Intangible Assets, Net - Schedule of Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands | 6 Months Ended | |||||
Jun. 30, 2022 | Dec. 31, 2021 | Mar. 31, 2018 | ||||
Total intangible assets, Gross Carrying Amount | $ 22,661 | $ 22,661 | ||||
Total intangible assets, Accumulated Amortization | 10,389 | 8,054 | ||||
Intangible assets, net | $ 12,272 | 14,607 | ||||
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 | 3,604 | ||||
Total intangible assets, Accumulated Amortization | 710 | 382 | ||||
Intangible assets, net | $ 2,894 | 3,222 | ||||
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 | 2,564 | 2,130 | ||||
Intangible assets, net | $ 954 | 1,388 | ||||
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 | 421 | ||||
Total intangible assets, Accumulated Amortization | 304 | 164 | ||||
Intangible assets, net | $ 117 | 257 | ||||
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 | 218 | ||||
Total intangible assets, Accumulated Amortization | 47 | 26 | ||||
Intangible assets, net | $ 171 | 192 | ||||
Core Technologies [Member] | Intrinsix Corp. [Member] | ||||||
Total intangible assets, Weighted Average Amortization Period (Year) | 3 years | |||||
Total intangible assets, Gross Carrying Amount | $ 3,329 | 3,329 | ||||
Total intangible assets, Accumulated Amortization | 1,202 | 647 | ||||
Intangible assets, net | $ 2,127 | 2,682 | ||||
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 | 975 | 810 | ||||
Intangible assets, net | $ 1,500 | 1,665 | ||||
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 | 3,231 | 2,679 | ||||
Intangible assets, net | $ 3,832 | 4,384 | ||||
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] | 1,284 | 1,144 | |||
Intangible assets, net | [1] | $ 677 | $ 817 | |||
[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 June 30, 2022. In addition, the Company participated in programs sponsored by the Hong Kong government for the support of the above investment, and as a result, the Company received during 2019 an amount of $239 related to the NB-IoT technologies, which was reduced from the gross carrying amount of intangible assets. The Company recorded the amortization cost of the NB-IoT technologies in “cost of revenues” on the Company’s interim condensed consolidated statements of income (loss). |
Note 7 - Intangible Assets, N_5
Note 7 - Intangible Assets, Net - Future Amortization Expense (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
2022 | $ 2,312 | |
2023 | 3,714 | |
2024 | 3,013 | |
2025 | 2,262 | |
2026 | 956 | |
2027 and thereafter | 15 | |
Total intangible assets | $ 12,272 | $ 14,607 |
Note 8 - Geographic Informati_3
Note 8 - Geographic Information and Major Customer Data (Details Textual) | 6 Months Ended |
Jun. 30, 2022 | |
Number of Reportable Segments | 1 |
Note 8 - Geographic Informati_4
Note 8 - Geographic Information and Major Customer Data - Revenues Based On Customer Location (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | ||
Revenues | $ 33,195 | $ 30,457 | $ 67,586 | $ 55,859 | |
UNITED STATES | |||||
Revenues | 6,991 | 6,548 | 13,737 | 10,498 | |
Europe and Middle East [Member] | |||||
Revenues | 2,772 | 906 | 3,874 | 2,005 | |
Asia Pacific [Member] | |||||
Revenues | [1] | 23,432 | 23,003 | 49,975 | 43,356 |
CHINA | |||||
Revenues | $ 18,601 | $ 19,189 | $ 41,572 | $ 36,448 | |
[1]China |
Note 8 - Geographic Informati_5
Note 8 - Geographic Information and Major Customer Data - Major Customers Data As Percentage of Total Revenues (Details) - Revenue from Contract with Customer Benchmark [Member] - Customer Concentration Risk [Member] | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Customer A [Member] | ||||
Percentage of total revenues | 11% | 27% | 11% | 21% |
Customer B [Member] | ||||
Percentage of total revenues | 10% |
Note 9 - Net Income (Loss) Pe_3
Note 9 - Net Income (Loss) Per Share of Common Stock (Details Textual) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 915,698 | 66,733 | 915,698 | 792,086 |
Note 9 - Net Income (Loss) Pe_4
Note 9 - Net Income (Loss) Per Share of Common Stock - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net income (loss) | $ (1,123) | $ 315 | $ (2,819) | $ (3,315) |
Basic (in shares) | 23,174 | 22,823 | 23,139 | 22,685 |
Effect of stock -based awards (in shares) | 0 | 317 | 0 | 0 |
Diluted weighted average common stock outstanding (in shares) | 23,174 | 23,140 | 23,139 | 22,685 |
Basic net income (loss) per share (in dollars per share) | $ (0.05) | $ 0.01 | $ (0.12) | $ (0.15) |
Diluted net income (loss) per share (in dollars per share) | $ (0.05) | $ 0.01 | $ (0.12) | $ (0.15) |
Note 10 - Common Stock and St_3
Note 10 - Common Stock and Stock-based Compensation Plans (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||
Feb. 14, 2022 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2021 | Dec. 31, 2015 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Outstanding Number (in shares) | [2] | 109,000 | [1] | 109,000 | [1] | 126,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Exercisable Number (in shares) | [2],[3] | 109,000 | 109,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Grants in Period (in shares) | 0 | 0 | 0 | [2] | |||||||
Non-employee Director [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Annual Vesting, Percentage | 25% | 25% | |||||||||
The2011 Stock Incentive Plan [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights Vesting Percentage, Year One | 25% | 25% | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Remaining Vesting Period (Month) | 36 months | ||||||||||
Maximum [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Outstanding Number (in shares) | 108,250 | 108,250 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Exercisable Number (in shares) | 108,250 | 108,250 | |||||||||
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] | Maximum [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Awards Granted | 400% | ||||||||||
Percentage of Stock Appreciation Rights Units Subject to Grant | 75% | ||||||||||
Restricted Stock Units (RSUs) [Member] | Vesting on February 17, 2023 [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.40% | ||||||||||
Restricted Stock Units (RSUs) [Member] | Vesting on February 17, 2024 [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.30% | ||||||||||
Restricted Stock Units (RSUs) [Member] | Vesting on February 17, 2025 [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.30% | ||||||||||
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 | |||||||||
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] | 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) | 9,935 | ||||||||||
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) | 5,961 | ||||||||||
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) | 7,451 | ||||||||||
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) | 5,961 | ||||||||||
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) | 14,903 | ||||||||||
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) | 3,974 | ||||||||||
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) | 4,969 | ||||||||||
Performance Share Units [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) | 3,974 | ||||||||||
Short-Term Executive PSUs [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Addtional Shares Issuable, Performance Goals Exceeded, Percentage | 20% | ||||||||||
Short-Term Executive PSUs [Member] | Vesting on February 17, 2023 [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.40% | ||||||||||
Short-Term Executive PSUs [Member] | Vesting on February 17, 2024 [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.30% | ||||||||||
Short-Term Executive PSUs [Member] | Vesting on February 17, 2025 [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.30% | ||||||||||
Short-Term Executive PSUs [Member] | Goals One [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50% | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Threshold, Percentage | 90% | ||||||||||
Short-Term Executive PSUs [Member] | Goals One [Member] | Full Vesting Based on The Achievement of 2022 License Target [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50% | ||||||||||
Short-Term Executive PSUs [Member] | Goals One [Member] | Increase in Eligible PSUs, Percent [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Conditional Increase in Shares, Percentage | 2% | ||||||||||
Short-Term Executive PSUs [Member] | Goals Two [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50% | ||||||||||
Short-Term Executive PSUs [Member] | Goals Two [Member] | Increase in Eligible PSUs, Percent [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Conditional Increase in Shares, Percentage | 2% | ||||||||||
Short-Term Executive PSUs [Member] | Goals Two [Member] | Full Vesting Based on The Achievement of Positive Shareholder Return [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50% | ||||||||||
Short-Term Executive PSUs [Member] | Goals Two [Member] | Vesting Based on Actual Return Being at Least 90 Percent of S&P500 Index [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Threshold, Percentage | 90% | ||||||||||
Short-Term Executive PSUs [Member] | Goals Two [Member] | Vesting Based on Actual Return In Excess of 100 Percent of S&P500 Index [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Threshold, Percentage | 100% | ||||||||||
Short-Term Executive PSUs [Member] | Chief Executive Officer [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Addtional Shares Issuable, Performance Goals Exceeded (in shares) | 2,981 | ||||||||||
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, Addtional Shares Issuable, Performance Goals Exceeded (in shares) | 795 | ||||||||||
Short-Term Executive PSUs [Member] | Chief Financial Officer [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Addtional Shares Issuable, Performance Goals Exceeded (in shares) | 994 | ||||||||||
Short-Term Executive PSUs [Member] | Chief Operating Officer [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Addtional Shares Issuable, Performance Goals Exceeded (in shares) | 795 | ||||||||||
Short-Term Executive PSUs [Member] | Maximum [Member] | Goals One [Member] | Vesting Based on Achievement In Excess of 90 Percent [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Actual Performance Results, in Excess of Performance Threshold, Percentage | 110% | ||||||||||
Short-Term Executive PSUs [Member] | Maximum [Member] | Goals Two [Member] | Vesting Based on Actual Return Being at Least 90 Percent of S&P500 Index [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 99% | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Threshold, Percentage | 99% | ||||||||||
Short-Term Executive PSUs [Member] | Maximum [Member] | Goals Two [Member] | Vesting Based on Actual Return In Excess of 100 Percent of S&P500 Index [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Actual Performance Results, in Excess of Performance Threshold, Percentage | 110% | ||||||||||
Short-Term Executive PSUs [Member] | Minimum [Member] | Goals One [Member] | Vesting Based on Achievement In Excess of 90 Percent [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Actual Performance Results, in Excess of Performance Threshold, Percentage | 1% | ||||||||||
Short-Term Executive PSUs [Member] | Minimum [Member] | Goals Two [Member] | Vesting Based on Actual Return Being at Least 90 Percent of S&P500 Index [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 91% | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Threshold, Percentage | 90% | ||||||||||
Short-Term Executive PSUs [Member] | Minimum [Member] | Goals Two [Member] | Vesting Based on Actual Return In Excess of 100 Percent of S&P500 Index [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Actual Performance Results, in Excess of Performance Threshold, Percentage | 1% | ||||||||||
RSUs and PSUs [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 413,619 | ||||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 25,099 | $ 25,099 | |||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 8 months 12 days | ||||||||||
[1]Due to the ceiling imposed on the SAR grants, the outstanding amount equals a maximum of 108,250 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 108,250 shares of the Company’s common stock issuable upon exercise. |
Note 10 - Common Stock and St_4
Note 10 - Common Stock and Stock-based Compensation Plans - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Dec. 31, 2021 | ||||
Outstanding, Number of shares (in shares) | [1] | 126,000 | |||||
Outstanding, Weighted average exercise price (in dollars per share) | $ 20.06 | ||||||
Outstanding, Weighted average remaining contractual term (Year) | 2 years 6 months | [2] | 2 years 7 months 6 days | ||||
Outstanding, Aggregated intrinsic value | $ 1,438 | [2] | $ 1,438 | [2] | $ 2,921 | ||
Granted, Number of shares (in shares) | 0 | 0 | 0 | [1] | |||
Exercised, Number of shares (in shares) | [1] | (17,000) | |||||
Exercised, Weighted average exercise price (in dollars per share) | $ 18.08 | ||||||
Forfeited or expired, Number of shares (in shares) | [1] | 0 | |||||
Outstanding, Number of shares (in shares) | [1] | 109,000 | [2] | 109,000 | [2] | 126,000 | |
Outstanding, Weighted average exercise price (in dollars per share) | $ 20.37 | [2] | $ 20.37 | [2] | $ 20.06 | ||
Exercisable, Number of shares (in shares) | [1],[3] | 109,000 | 109,000 | ||||
Exercisable, Weighted average exercise price (in dollars per share) | [3] | $ 20.37 | $ 20.37 | ||||
Exercisable, Weighted average remaining contractual term (Year) | [3] | 2 years 6 months | |||||
Exercisable, Aggregated intrinsic value | [3] | $ 1,438 | $ 1,438 | ||||
[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 108,250 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 108,250 shares of the Company’s common stock issuable upon exercise. |
Note 10 - Common Stock and St_5
Note 10 - Common Stock and Stock-based Compensation Plans - Summary of Restricted Stock Units Activity (Details) - RSUs and PSUs [Member] | 6 Months Ended |
Jun. 30, 2022 $ / shares shares | |
Unvested, number (in shares) | shares | 688,073 |
Unvested, weighted average fair value (in dollars per share) | $ / shares | $ 41.18 |
Granted, number (in shares) | shares | 413,619 |
Granted, weighted average fair value (in dollars per share) | $ / shares | $ 36.15 |
Vested, number (in shares) | shares | (226,607) |
Vested, weighted average fair value (in dollars per share) | $ / shares | $ 36.09 |
Forfeited or expired, number (in shares) | shares | (68,387) |
Forfeited or expired, weighted average fair value (in dollars per share) | $ / shares | $ 46.17 |
Unvested, number (in shares) | shares | 806,698 |
Unvested, weighted average fair value (in dollars per share) | $ / shares | $ 39.73 |
Note 10 - Common Stock and St_6
Note 10 - Common Stock and Stock-based Compensation Plans - Equity-based Compensation Expense Included in Interim Condensed Consolidated Statements of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Total equity-based compensation expense | $ 3,303 | $ 2,906 | $ 6,692 | $ 6,104 |
Cost of Revenues [Member] | ||||
Total equity-based compensation expense | 344 | 119 | 683 | 262 |
Research and Development, Net [Member] | ||||
Total equity-based compensation expense | 2,006 | 1,743 | 4,001 | 3,428 |
Sales and Marketing [Member] | ||||
Total equity-based compensation expense | 340 | 367 | 673 | 785 |
General and Administrative [Member] | ||||
Total equity-based compensation expense | $ 613 | $ 677 | $ 1,335 | $ 1,629 |
Note 10 - Common Stock and St_7
Note 10 - Common Stock and Stock-based Compensation Plans - Valuation Assumptions (Details) - The 2002 Employee Stock Purchase Plan [Member] - Purchase Rights [Member] | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Expected dividend yield | 0% | 0% |
Expected volatility | 38% | |
Expected volatility | 39% | |
Expected volatility, maximum | 56% | |
Risk-free interest rate | 0.50% | |
Risk-free interest rate, minimum | 0.10% | |
Risk-free interest rate, Maximum | 1.70% | |
Contractual term of up to (Month) | 24 months | 24 months |
Note 11 - Derivatives and Hed_3
Note 11 - Derivatives and Hedging Activities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Derivative, Notional Amount | $ 15,300 | $ 15,300 | $ 4,500 | ||
Derivative, Gain (Loss) on Derivative, Net, Total | $ (632) | $ 58 | $ (742) | $ 36 |
Note 11 - Derivatives and Hed_4
Note 11 - Derivatives and Hedging Activities - Effective Portion of the Gains and Losses on Derivative Instruments Designated (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Foreign exchange forward contracts | $ 595 | $ 595 | $ 63 | ||
Derivatives designated as cash flow hedging instruments | (1,402) | $ 86 | (1,400) | $ 36 | |
Cash Flow Hedging [Member] | |||||
Derivative Asset, Total | 0 | 0 | 63 | ||
Derivative Liability, Total | 595 | 595 | 0 | ||
Derivatives designated as cash flow hedging instruments | (1,402) | 86 | (1,400) | 36 | |
Cash Flow Hedging [Member] | Foreign Exchange Forward [Member] | |||||
Foreign exchange forward contracts | 0 | 0 | 63 | ||
Foreign exchange contracts | 371 | 371 | 0 | ||
Derivatives designated as cash flow hedging instruments | (1,001) | 85 | (999) | 36 | |
Cash Flow Hedging [Member] | Foreign Exchange Option [Member] | |||||
Foreign exchange contracts | 224 | 224 | $ 0 | ||
Derivatives designated as cash flow hedging instruments | $ (401) | $ 1 | $ (401) | $ 0 |
Note 11 - Derivatives and Hed_5
Note 11 - Derivatives and Hedging Activities - Net (Gains) Losses Reclassified from Accumulated Other Comprehensive Loss (Details) - Derivatives Designated as Cash Flow Hedging Instruments [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total | $ 632 | $ (58) | $ 742 | $ (36) |
Foreign Exchange Option Contracts [Member] | ||||
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total | 177 | 0 | 177 | 0 |
Foreign Exchange Forward Contracts [Member] | ||||
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total | $ 455 | $ (58) | $ 565 | $ (36) |
Note 12 - Accumulated Other C_3
Note 12 - Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Balances of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Balance | $ 278,079 | $ 261,649 | $ 276,732 | $ 260,889 |
Balance | 273,715 | 265,016 | 273,715 | 265,016 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | ||||
Balance | (2,594) | 118 | (427) | 478 |
Other comprehensive loss before reclassifications | (1,430) | 136 | (3,597) | (224) |
Amounts reclassified from accumulated other comprehensive income (loss) | 17 | (15) | 17 | (15) |
Net current period other comprehensive loss | (1,413) | 121 | (3,580) | (239) |
Balance | (4,007) | 239 | (4,007) | 239 |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||
Balance | 156 | (25) | 55 | 0 |
Other comprehensive loss before reclassifications | (1,225) | 76 | (1,221) | 32 |
Amounts reclassified from accumulated other comprehensive income (loss) | 551 | (51) | 648 | (32) |
Net current period other comprehensive loss | (674) | 25 | (573) | 0 |
Balance | (518) | 0 | (518) | 0 |
AOCI Attributable to Parent [Member] | ||||
Balance | (2,438) | 93 | (372) | 478 |
Other comprehensive loss before reclassifications | (2,655) | 212 | (4,818) | (192) |
Amounts reclassified from accumulated other comprehensive income (loss) | 568 | (66) | 665 | (47) |
Net current period other comprehensive loss | (2,087) | 146 | (4,153) | (239) |
Balance | $ (4,525) | $ 239 | $ (4,525) | $ 239 |
Note 12 - Accumulated Other C_4
Note 12 - Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Cost of revenues | $ (6,825) | $ (3,693) | $ (13,229) | $ (6,074) |
Research and development | (19,538) | (17,457) | (39,748) | (35,050) |
Sales and marketing | (2,723) | (2,893) | (5,646) | (6,195) |
General and administrative | (3,635) | (4,159) | (7,271) | (7,039) |
Total, before income taxe | (548) | 1,944 | (929) | 650 |
Income tax expense | 575 | 1,629 | 1,890 | 3,965 |
Net loss | (1,123) | 315 | (2,819) | (3,315) |
Financial income (loss), net | 413 | 356 | 695 | 392 |
Income tax expense (benefit) | 575 | 1,629 | 1,890 | 3,965 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Net loss | (568) | 66 | (665) | 47 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Gains (Losses) on Cash Flow Hedges [Member] | ||||
Cost of revenues | (11) | 1 | (13) | 1 |
Research and development | (551) | 51 | (647) | 32 |
Sales and marketing | (15) | 2 | (18) | 1 |
General and administrative | (55) | 4 | (64) | 2 |
Total, before income taxe | (632) | 58 | (742) | 36 |
Income tax expense | (81) | 7 | (94) | 4 |
Net loss | (551) | 51 | (648) | 32 |
Income tax expense (benefit) | (81) | 7 | (94) | 4 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Gains (Losses) on Available-for-sale Marketable Securities [Member] | ||||
Income tax expense | (4) | 0 | (4) | 0 |
Net loss | (17) | 15 | (17) | 15 |
Financial income (loss), net | (21) | 15 | (21) | 15 |
Income tax expense (benefit) | $ (4) | $ 0 | $ (4) | $ 0 |
Note 13 - Share Repurchase Pr_2
Note 13 - Share Repurchase Program (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Treasury Stock, Shares, Acquired (in shares) | 136,091 | 0 | 136,091 | 0 |
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ 32.75 | $ 32.75 | ||
Treasury Stock Value Acquired Weighted Average Method | $ 4,457 | $ 4,457 | ||
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares) | 361,517 | 361,517 |