Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Feb. 23, 2023 | Jun. 30, 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 | FY | ||
Document Fiscal Year Focus | 2022 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 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 Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity Shell Company | false | ||
Entity Public Float | $ 562,317,298 | ||
Entity Common Stock, Shares Outstanding | 23,416,026 | ||
Auditor Firm ID | 1281 | ||
Auditor Name | KOST FORER GABBAY & KASIERER | ||
Auditor Location | Tel-Aviv, Israel |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 21,285 | $ 33,153 |
Short-term bank deposits | 6,114 | 31,410 |
Marketable securities | 112,080 | 90,298 |
Trade receivables (net of allowance for credit losses of $288 and $313 at December 31, 2021 and December 31, 2022, respectively) | 31,250 | 27,449 |
Prepaid expenses and other current assets | 6,896 | 6,670 |
Total current assets | 177,625 | 188,980 |
Long-term assets: | ||
Bank deposits | 8,205 | 0 |
Severance pay fund | 8,475 | 10,175 |
Deferred tax assets, net | 8,599 | 15,850 |
Property and equipment, net | 7,099 | 6,765 |
Operating lease right-of-use assets | 10,283 | 8,827 |
Goodwill | 74,777 | 74,777 |
Intangible assets, net | 6,680 | 14,607 |
Investments in marketable equity securities | 408 | 2,919 |
Other long-term assets | 6,291 | 5,759 |
Total long-term assets | 130,817 | 139,679 |
Total assets | 308,442 | 328,659 |
Current liabilities: | ||
Trade payables | 1,995 | 1,464 |
Deferred revenues | 3,168 | 8,661 |
Accrued expenses and other payables | 6,660 | 4,030 |
Accrued payroll and related benefits | 18,473 | 18,011 |
Operating lease liabilities | 2,982 | 3,274 |
Total current liabilities | 33,278 | 35,440 |
Long-term liabilities: | ||
Accrued severance pay | 9,064 | 10,551 |
Operating lease liabilities | 6,703 | 5,130 |
Other accrued liabilities | 526 | 806 |
Total long-term liabilities | 16,293 | 16,487 |
Stockholders’ equity: | ||
$0.001 par value: 5,000,000 shares authorized; none issued and outstanding | 0 | 0 |
$0.001 par value: 45,000,000 shares authorized; 23,595,160 shares issued at December 31, 2021 and 2022; 22,984,552 and 23,215,439 shares outstanding at December 31, 2021 and 2022, respectively | 23 | 23 |
Additional paid in-capital | 242,841 | 235,386 |
Treasury stock at cost (610,608 and 379,721 shares of common stock at December 31, 2021 and 2022, respectively) | (9,904) | (13,790) |
Accumulated other comprehensive loss | (6,249) | (372) |
Retained earnings | 32,160 | 55,485 |
Total stockholders’ equity | 258,871 | 276,732 |
Total liabilities and stockholders’ equity | $ 308,442 | $ 328,659 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Allowance for doubtful accounts | $ 313 | $ 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) | 23,215,439 | 22,984,552 |
Treasury stock, shares (in shares) | 379,721 | 610,608 |
Consolidated Statements of Inco
Consolidated Statements of Income (Loss) - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenues: | |||
Revenues | $ 134,648 | $ 122,706 | $ 100,326 |
Cost of revenues | 27,052 | 16,827 | 10,749 |
Gross profit | 107,596 | 105,879 | 89,577 |
Operating expenses: | |||
Research and development, net | 78,501 | 72,504 | 62,010 |
Sales and marketing | 12,902 | 12,861 | 11,907 |
General and administrative | 15,322 | 14,296 | 14,116 |
Amortization of intangible assets | 2,724 | 2,710 | 2,307 |
Impairment of assets | 3,556 | 0 | 0 |
Total operating expenses | 113,005 | 102,371 | 90,340 |
Operating income (loss) | (5,409) | 3,508 | (763) |
Financial income, net | 2,812 | 197 | 3,284 |
Remeasurement of marketable equity securities | (2,511) | 1,983 | 0 |
Income (loss) before taxes on income | (5,108) | 5,688 | 2,521 |
Taxes on income | 18,075 | 5,292 | 4,900 |
Net income (loss) | $ (23,183) | $ 396 | $ (2,379) |
Basic net income (loss) per share (in dollars per share) | $ (1) | $ 0.02 | $ (0.11) |
Diluted net income (loss) per share (in dollars per share) | $ (1) | $ 0.02 | $ (0.11) |
Weighted average shares used to compute net income (loss) per share (in thousands): | |||
Basic (in shares) | 23,172 | 22,819 | 22,107 |
Diluted (in shares) | 23,172 | 23,251 | 22,107 |
License [Member] | |||
Revenues: | |||
Revenues | $ 89,259 | $ 72,827 | $ 52,513 |
Royalty [Member] | |||
Revenues: | |||
Revenues | $ 45,389 | $ 49,879 | $ 47,813 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net income (loss) | $ (23,183) | $ 396 | $ (2,379) |
Available-for-sale securities: | |||
Changes in unrealized gains (losses) | (6,323) | (1,150) | 548 |
Reclassification adjustments included in net income (loss) | 55 | (13) | 6 |
Net change | (6,268) | (1,163) | 554 |
Cash flow hedges: | |||
Changes in unrealized gains (losses) | (1,461) | 228 | 632 |
Reclassification adjustments included in net income (loss) | 1,292 | (165) | (688) |
Net change | (169) | 63 | (56) |
Other comprehensive income (loss) before tax | (6,437) | (1,100) | 498 |
Income tax expense (benefit) related to components of other comprehensive income (loss) | (560) | (250) | 114 |
Other comprehensive income (loss), net of taxes | (5,877) | (850) | 384 |
Comprehensive loss | $ (29,060) | $ (454) | $ (1,995) |
Statements of Changes in Stockh
Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | AOCI Attributable to Parent [Member] | Common Stock Outstanding [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2019 | 21,839,369 | |||||
Balance at Dec. 31, 2019 | $ 94 | $ 22 | $ 228,005 | $ (39,390) | $ 62,426 | $ 251,157 |
Net loss | 0 | 0 | 0 | 0 | (2,379) | (2,379) |
Other comprehensive income | 384 | 0 | 0 | 0 | 0 | 384 |
Equity-based compensation | 0 | $ 0 | 13,636 | 0 | 0 | 13,636 |
Purchase of treasury stock (in shares) | (202,392) | |||||
Purchase of treasury stock | 0 | $ 0 | 0 | (4,780) | 0 | (4,780) |
Issuance of treasury stock upon exercise of stock-based awards (in shares) | 623,940 | |||||
Issuance of treasury stock upon exercise of stock-based awards | 0 | $ 0 | (8,469) | 14,037 | (2,697) | 2,871 |
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 | 396 | 396 |
Other comprehensive income | (850) | 0 | 0 | 0 | 0 | (850) |
Equity-based compensation | 0 | $ 0 | 13,055 | 0 | 0 | 13,055 |
Issuance of treasury stock upon exercise of stock-based awards (in shares) | 723,635 | |||||
Issuance of treasury stock upon exercise of stock-based awards | 0 | $ 1 | (10,841) | 16,343 | (2,261) | 3,242 |
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 |
Accumulated other comprehensive loss, net as of December 31, 2022 | (372) | |||||
Net loss | 0 | 0 | 0 | 0 | (23,183) | (23,183) |
Other comprehensive income | (5,877) | 0 | 0 | 0 | 0 | (5,877) |
Equity-based compensation | 0 | $ 0 | 14,505 | 0 | 0 | 14,505 |
Purchase of treasury stock (in shares) | (218,809) | |||||
Purchase of treasury stock | 0 | $ 0 | 0 | (6,785) | 0 | (6,785) |
Issuance of treasury stock upon exercise of stock-based awards (in shares) | 449,696 | |||||
Issuance of treasury stock upon exercise of stock-based awards | 0 | $ 0 | (7,050) | 10,671 | (142) | 3,479 |
Balance (in shares) at Dec. 31, 2022 | 23,215,439 | |||||
Balance at Dec. 31, 2022 | (6,249) | $ 23 | $ 242,841 | $ (9,904) | $ 32,160 | 258,871 |
(*) Accumulated unrealized loss from available-for-sale securities, net of taxes of $685 | (6,142) | |||||
Accumulated unrealized loss from hedging activities, net of taxes of $1 | (107) | |||||
Accumulated other comprehensive loss, net as of December 31, 2022 | $ (6,249) | $ (6,249) |
Statements of Changes in Stoc_2
Statements of Changes in Stockholders' Equity (Parentheticals) - AOCI Attributable to Parent [Member] $ in Thousands | Dec. 31, 2022 USD ($) |
Accumulated unrealized loss from available-for-sale securities, taxes | $ 685 |
Accumulated unrealized gain from hedging activities, taxes | $ 1 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||
Net income (loss) | $ (23,183) | $ 396 | $ (2,379) |
Adjustments required to reconcile net income (loss) to net cash provided by operating activities: | |||
Depreciation | 3,190 | 3,184 | 3,233 |
Amortization of intangible assets | 4,371 | 3,801 | 2,588 |
Impairment of assets | 3,556 | 0 | 0 |
Equity-based compensation | 14,505 | 13,055 | 13,636 |
Realized loss (gain), net on sale of available-for-sale marketable securities | 55 | (13) | 6 |
Amortization of premiums on available-for-sale marketable securities | 397 | 420 | 444 |
Unrealized foreign exchange (gain) loss, net | (351) | 1,163 | (591) |
Remeasurement of marketable equity securities | 2,511 | (1,983) | 0 |
Changes in operating assets and liabilities: | |||
Trade receivables, net | (3,749) | 5,842 | (2,917) |
Prepaid expenses and other assets | (1,126) | 3,604 | (559) |
Operating lease right-of-use assets | (1,456) | 225 | 2,014 |
Accrued interest on bank deposits | 144 | (65) | 1,186 |
Deferred taxes, net | 7,811 | (6,305) | (335) |
Trade payables | 511 | 404 | 186 |
Deferred revenues | (5,493) | 5,053 | (1,208) |
Accrued expenses and other payables | 333 | (1,737) | 133 |
Accrued payroll and related benefits | 984 | (875) | 1,803 |
Operating lease liability | 1,504 | (232) | (2,183) |
Income taxes payable | 2,127 | 189 | 143 |
Accrued severance pay, net | 283 | (322) | (37) |
Net cash provided by operating activities | 6,924 | 25,804 | 15,163 |
Cash flows from investing activities: | |||
Acquisition of a business, net of cash acquired (see note 1) | 0 | (29,891) | 0 |
Purchase of property and equipment | (3,499) | (2,193) | (2,935) |
Investment in bank deposits | (14,000) | (1,500) | (43,893) |
Proceeds from bank deposits | 30,885 | 19,989 | 55,393 |
Investment in available-for-sale marketable securities | (49,873) | (39,192) | (56,011) |
Proceeds from maturity of available-for-sale marketable securities | 18,196 | 26,043 | 21,956 |
Proceeds from sale of available-for-sale marketable securities | 3,175 | 10,035 | 10,272 |
Net cash used in investing activities | (15,116) | (16,709) | (15,218) |
Cash flows from financing activities: | |||
Purchase of treasury stock | (6,785) | 0 | (4,780) |
Payment of contingent consideration liability | 0 | 0 | (204) |
Proceeds from exercise of stock-based awards | 3,479 | 3,242 | 2,871 |
Net cash provided by (used in) financing activities | (3,306) | 3,242 | (2,113) |
Effect of exchange rate changes on cash and cash equivalents | (370) | (327) | 508 |
Increase (decrease) in cash and cash equivalents | (11,868) | 12,010 | (1,660) |
Cash and cash equivalents at the beginning of the year | 33,153 | 21,143 | 22,803 |
Cash and cash equivalents at the end of the year | 21,285 | 33,153 | 21,143 |
Supplemental information of cash-flows activities: | |||
Income and withholding taxes | 10,193 | 9,183 | 4,727 |
Non-cash transactions: | |||
Property and equipment purchases incurred but unpaid at the end of the year | 25 | 59 | 5 |
Right-of-use assets obtained in the exchange for operating lease liabilities | $ 5,009 | $ 2,679 | $ 6,787 |
Note 1 - Organization and Signi
Note 1 - Organization and Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | NOTE 1: Organization: CEVA, Inc. (“CEVA” or the “Company”) was incorporated in Delaware on November 22, 1999. November 2002. no CEVA licenses a family of wireless connectivity and smart sensing technologies and is a provider of chip design services. The Company’s offerings include Digital Signal Processors, AI processors, short and long range connectivity solutions, 5G 5G 4D 4/5/6/6E 802.11n/ac/ax CEVA’s Intrinsix business also 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. Acquisitions: On May 31, 2021, ( 100% May 9, 2021 ( third 2021. twenty-four 24 In addition, the Company incurred acquisition-related costs in an amount of $970, which were included in general and administrative expenses for the year ended December 31, 2021. The acquisition has been accounted in accordance with FASB Accounting Standards Codification (“ASC”) No. 805, The results of operations of the combined business, including the acquired business, have been included in the consolidated financial statements as of the closing date. The primary rationale for this acquisition was ( 1 2 3 The purchase price allocation for the acquisition has been determined as follows: Assets Net assets (including cash in the amount of $ 600 $ 872 Intangible assets 7,572 Goodwill 23,707 Total assets $ 32,151 Liabilities Deferred tax liabilities $ 1,660 Total liabilities $ 1,660 Total $ 30,491 The fair value and weighted average estimated useful life of the acquired intangible assets are as follows: Identifiable Intangible Assets Estimated Fair Value Weighted-Average Estimated Useful Life in Years Customer relationships $ 3,604 5.5 Customer backlog 421 1.5 Technologies 3,329 3.0 Patents 218 5.0 Total identifiable intangible assets $ 7,572 The following unaudited pro forma financial information presents combined results of operations for the periods presented, as if the Company had completed the acquisition on January 1, 2020. not Year ended December 31 2020 2021 Pro forma total revenues $ 122,048 $ 131,397 Pro forma net loss (3,837 ) (1,707 ) The intangible assets are amortized based on the pattern upon which the economic benefits of the intangible assets are to be utilized. Basis of presentation: The consolidated financial statements have been prepared according to U.S Generally Accepted Accounting Principles (“U.S. GAAP”). Recently Adopted Accounting Pronouncements: In October 2021, No. 2021 08, 805 2021 08 606, 606 No. 2021 08 December 15, 2022, January 1, 2022. not Use of estimates : The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company’s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The coronavirus disease (“COVID- 19” may 19 no December 31, 2022. may Financial statements in U.S. dollars : A majority of the revenues of the Company and its subsidiaries is generated in U.S. dollars (“dollars”). In addition, a portion of the Company and its subsidiaries’ costs are incurred in dollars. The Company’s management has determined that the dollar is the primary currency of the economic environment in which the Company and its subsidiaries principally operate. Thus, the functional and reporting currency of the Company and its subsidiaries is the dollar. Accordingly, monetary accounts maintained in currencies other than the dollar are remeasured into dollars in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 830, Principles of consolidation : The consolidated financial statements incorporate the financial statements of the Company and all of its subsidiaries. All inter-company balances and transactions have been eliminated on consolidation. Cash equivalents : Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three Short-term bank deposits : Short-term bank deposits are deposits with maturities of more than three one 2020, 2021 2022, Marketable securities : Marketable securities consist mainly of corporate bonds. The Company determines the appropriate classification of marketable securities at the time of purchase and re-evaluates such designation at each balance sheet date. In accordance with FASB ASC No. 320 may one The Company determines realized gains or losses on sale of marketable securities on a specific identification method and records such gains or losses as financial income, net. Available-for-sale debt securities with an amortized cost basis in excess of estimated fair value are assessed to determine what amount of that difference, if any, is caused by expected credit losses. Expected credit losses on available-for-sale debt securities are recognized in financial income, net, on the Company’s consolidated statements of income (loss), and any remaining unrealized losses, net of taxes, are included in accumulated other comprehensive income (loss) in stockholders' equity. The amount of credit losses recorded for the twelve December 31, 2020, 2021 2022 Long-term bank deposits : Long-term bank deposits are deposits with maturities of more than one 2020, 2021 2022, Trade receivables and allowances: Trade receivables are recorded and carried at the original invoiced amount less an allowance for any potential uncollectible amounts. The Company makes estimates of expected credit losses for the allowance for doubtful accounts and allowance for unbilled receivables based upon its assessment of various factors, including historical experience, the age of the trade receivable balances, credit quality of its customers, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may Property and equipment, net : Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets, at the following annual rates: % Computers, software and equipment 10 - 33 Office furniture and equipment 7 - 33 Leasehold improvements 10 - 20 (the shorter of the expected lease term or useful economic life) The Company’s long-lived assets are reviewed for impairment in accordance with FASB ASC No. 360 10 35, may not No impairment was recorded in 2020, 2021 2022. Leases : The Company adopted Topic 842, 1 2 3 Leases are classified as either finance leases or operating leases. A lease is classified as a finance lease if any one no not one not Operating lease right-of-use (“ROU”) assets and liabilities are recognized on the commencement date based on the present value of remaining lease payments over the lease term. For this purpose, the Company considers only payments that are fixed and determinable at the time of commencement. As most of the Company's leases do not 2022, one may The Company elected to not twelve Goodwill : Goodwill is carried at cost and is not October 1st The Company operates in one one ASC 350 first not not no not not No. 2017 04, 350 three December 31, 2022, Intangible assets, net : Acquired intangible assets with finite lives are amortized over their estimated useful lives. The Company amortizes intangible assets with finite lives over periods ranging from half seven The Company’s long-lived assets and intangible assets with finite lives are reviewed for impairment in accordance with FASB ASC No. 360 10 35, may not The Company did not December 31, 2020 2021. 2022, August 2019, 2022, 1 2 Investments in marketable equity securities: The Company holds an equity interest in Cipia Vision Ltd (CPIA.TA) ("Cipia"). For the year ended December 31, 2020, not December 31, 2020, 321 In November 2021, no December 31, 2022, $1,983 December 31, 2021 2022, Revenue recognition : The following is a description of principal activities from which the Company generates revenue. Revenues are recognized when control of the promised goods or services are transferred to the customers in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company determines revenue recognition through the following steps: ● identification of the contract with a customer; ● identification of the performance obligations in the contract; ● determination of the transaction price; ● allocation of the transaction price to the performance obligations in the contract; and ● recognition of revenue when, or as, the Company satisfies a performance obligation. The Company enters into contracts that can include various combinations of products and services, as detailed below, which are generally capable of being distinct and accounted for as separate performance obligations. The Company generates its revenues from ( 1 2 3 The Company accounts for its IP license revenues and related services, which provide the Company's customers with rights to use the Company's IP, in accordance with ASC 606. may 606, Most of the Company’s contracts with customers contain multiple performance obligations. For these contracts, the Company accounts for individual performance obligations separately, if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. Standalone selling prices of IP license are typically estimated using the residual approach. Standalone selling prices of services are typically estimated based on observable transactions when these services are sold on a standalone basis. Revenues from contracts that involve significant customization of the Company’s IP to customer-specific specifications are considered as one not first Revenues that are derived from the sale of a licensee’s products that incorporate the Company’s IP are classified as royalty revenues. Royalty revenues are recognized during the quarter in which the sale of the product incorporating the Company’s IP occurs. Royalties are calculated either as a percentage of the revenues received by the Company’s licensees on sales of products incorporating the Company’s IP or on a per unit basis, as specified in the agreements with the licensees. For a majority of the Company’s royalty revenues, the Company receives the actual sales data from its customers after the quarter ends and accounts for it as unbilled receivables. When the Company does not Contracts with customers generally contain an agreement to provide for training and post contract support, which consists of telephone or e-mail support, correction of errors (bug fixing) and unspecified updates and upgrades. Fees for post contract support, which takes place after delivery to the customer, are specified in the contract and are generally mandatory for the first may twelve Revenues that are derived from NRE chip design services are performance obligations that are recognized over time as the services are rendered. For time-and-materials contracts, the performance obligation is satisfied, and revenue is recognized over time as the services are performed. Generally, contracts call for billings on a time-and-materials basis; however, in instances when a fixed-fee contract is signed, revenue is recognized over time, based on an input method of labor costs expended, relative to total expected labor costs to complete the contract. Revenues from the sale of development systems and chips are recognized when control of the promised goods or services are transferred to the customers. When contracts involve a significant financing component, the Company adjusts the promised amount of consideration for the effects of the time value of money if the timing of payments agreed to by the parties to the contract (either explicitly or implicitly) provide the customer with a significant benefit of financing, unless the financing period is under one 606. Deferred revenues, which represent a contract liability, include unearned amounts received under license and NRE agreements, unearned technical support and amounts paid by customers not The Company capitalizes sales commission as costs of obtaining a contract when they are incremental and, if they are expected to be recovered, amortized in a manner consistent with the pattern of transfer of the good or service to which the asset relates. If the expected amortization period is one Cost of revenue : Cost of revenue includes the costs of products, services and royalty expense payments to the Israeli Innovation Authority of the Ministry of Economy and Industry in Israel (the “IIA“) (refer to Note 16 Income taxes : The Company recognizes income taxes under the liability method. It recognizes deferred income tax assets and liabilities for the expected future consequences of temporary differences between the financial reporting and tax bases of assets and liabilities. These differences are measured using the enacted statutory tax rates that are expected to apply to taxable income for the years in which differences are expected to reverse. The effect of a change in tax rates on deferred income taxes is recognized in the statements of income (loss) during the period that includes the enactment date. Valuation allowance is recorded to reduce the deferred tax assets to the net amount that the Company believes is more likely than not The Company accounts for uncertain tax positions in accordance with ASC 740. 740 10 two first not second 50% Research and development : Research and development costs are charged to the consolidated statements of income (loss) as incurred. Government grants and tax credits : Government grants received by the Company relating to categories of operating expenditures are credited to the consolidated statements of income (loss) during the period in which the expenditure to which they relate is charged. Royalty and non-royalty-bearing grants from the IIA for funding certain approved research and development projects are recognized at the time when the Company is entitled to such grants, on the basis of the related costs incurred, and included as a deduction from research and development expenses in the consolidated statements of income (loss). The Company recorded grants in the amounts of $2,844, $3,595 and $4,850 for the years ended December 31, 2020, 2021 2022, may not The French Research Tax Credit, Crédit d’Impôt Recherche (“CIR”), is a French tax incentive to stimulate research and development (“R&D”) which is relevant for the Company's French subsidiaries (RivieraWaves SAS and CEVA France). Generally, the CIR offsets the income tax to be paid and the remaining portion (if any) can be refunded. The CIR is calculated based on the claimed volume of eligible R&D expenditures by the Company. As a result, the CIR is presented as a deduction from “research and development expenses” in the consolidated statements of income (loss). During the years ended December 31, 2020, 2021 2022, The research & development (R&D) tax credit in the UK is designed to encourage innovation and increase spending on R&D activities for companies operating in the UK. This is relevant to the Company’s subsidiary R&D centers in the UK. Generally, the UK R&D tax credit offsets the income tax to be paid and the remaining portion (if any) will be refunded. The R&D tax credit is calculated based on the claimed volume of eligible R&D expenditures by the Company. As a result, the R&D tax credit is presented as a deduction from “research and development expenses” in the consolidated statements of income (loss). During the years ended December 31, 2020, 2021 2022, Employee benefit plan : Certain of the Company’s employees are eligible to participate in a defined contribution pension plan (the “Plan”). Participants in the Plan may The Company’s U.S. operations maintain a retirement plan (the “U.S. Plan”) that qualifies as a deferred salary arrangement under Section 401 may may Total contributions for the years ended December 31, 2020, 2021 2022 Accrued severance pay : Effective July 1, 2021, August 1, 2016, 14 1963. July 1, 2021, August 1, 2016, June 30, 2021. June 30, 2021, June 30, 2021. may Effective August 1, 2016, 14 1963, July 1, 2021, August 1, 2016. no no not Severance pay expenses, net of related income, for the years ended December 31, 2020, 2021 2022, Equity-based compensation : The Company accounts for equity-based compensation in accordance with FASB ASC No. 718, The Company use the straight-line recognition method for awards subject to graded vesting based only on a service condition and the accelerated method for awards that are subject to performance or market conditions. The fair value of each RSU and PSU (excluding PSUs based on market condition awards) is the market value as determined by the closing price of the common stock on the day of grant. The Company estimates the fair value of PSU based on market condition awards on the date of grant using the Monte-Carlo simulation model. The fair value for rights to purchase shares of common stock under the Company’s employee stock purchase plan was estimated on the date of grant using the following assumptions: 2020 2021 2022 Expected dividend yield 0% 0% 0% Expected volatility 32% - 60% 39% - 60% 38% - 50% Risk-free interest rate 0.1% - 1.9% 0.1% - 1.7% 0. 5% - 3.0% Expected forfeiture 0% 0% 0% Contractual term of up to 24 months 24 months 24 months During the years ended December 31, 2020, 2021 2022, Year ended December 31, 2020 2021 2022 Cost of revenue $ 639 $ 818 $ 1,461 Research and development, net 6,874 7,287 8,540 Sales and marketing 2,038 1,626 1,550 General and administrative 4,085 3,324 2,954 Total equity-based compensation expense $ 13,636 $ 13,055 $ 14,505 As of December 31, 2022, December 31, 2022, Fair value of financial instruments : The carrying amount of cash, cash equivalents, short term bank deposits, trade receivables, other accounts receivable, trade payables and other accounts payable approximates fair value due to the short-term maturities of these instruments. Marketable securities, marketable equity securities and derivative instruments are carried at fair value. See Note 5 Comprehensive income (loss) : The Company accounts for comprehensive income (loss) in accordance with FASB ASC No. 220, Concentration of credit risk : Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents, bank deposits, marketable securities, foreign exchange contracts and trade receivables. The Company invests its surplus cash in cash deposits and marketable securities in financial institutions and has established guidelines relating to diversification and maturities to maintain safety and liquidity of the investments. The majority of the Company’s cash and cash equivalents are invested in high grade certificates of deposits with major U.S., European and Israeli banks. Generally, cash and cash equivalents and bank deposits may may no The Company is exposed primarily to fluctuations in the level of U.S. interest rates. To the extent that interest rates rise, fixed interest investments may may The Company is exposed to financial market risks, including changes in interest rates. The Company typically does not The Company’s trade receivables are geographically diverse, mainly in the Asia Pacific, and also in the United States and Europe. Concentration of credit risk with respect to trade receivables is limited by credit limits, ongoing credit evaluation and account monitoring procedures. The Company performs ongoing credit evaluations of its customers and to date has not may Balance at beginning of period Additions Deduction Balance at end of period Year ended December 31, 2022 Allowance for credit losses $ 288 $ 25 $ — $ 313 Year ended December 31, 2021 Allowance for credit losses $ 300 $ 152 $ (164 ) $ 288 Year ended December 31, 2020 Allowance for credit losses $ 327 $ 1,443 $ (1,470 ) $ 300 The Company has no Derivative and hedging activities : The Company follows the requirements of FASB ASC No. 815,” one twelve For derivative instruments that are designated and qualify as a cash flow hedge (i.e., hedging the exposure to variability in expected future cash flows that is attributable to a particular risk), the gain or loss on the derivative instrument is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. As of December 31, 2021, 2022, Advertising expenses : Advertising expenses are charged to consolidated statements of income (loss) as incurred. Advertising expenses for the years ended December 31, 2020, 2021 2022 Treasury stock : The Company repurchases its common stock from time to time pursuant to a board-authorized share repurchase program through open market purchases and repurchase plans. The repurchases of common stock are accounted for as treasury stock, and result in a reduction of stockholders’ equity. When treasury shares are reissued, the Company accounts for the reissuance in accordance with FASB ASC No. 505 30, Net income (loss) per share of common stock : Basic net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during each year. Diluted net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during each year, plus dilutive potential shares of common stock considered outstanding during the year, in accordance with FASB ASC No. 260, Year ended December 31, 2020 2021 2022 Numerator: Net income (loss) $ (2,379 ) $ 396 $ (23,183 ) Denominator (in thousands): Basic weighted-average common stock outstanding 22,107 22,819 23,172 Effect of stock-based awards — 432 — Diluted weighted-average common stock outstanding 22,107 23,251 23,172 Basic net income (loss) per share $ (0.11 ) $ 0.02 $ (1.00 ) Diluted net income (loss) per share $ (0.11 ) $ 0.02 $ (1.00 ) The total number of shares related to outstanding equity-based awards excluded from the calculation of diluted net loss per share, since their effect was anti-dilutive, was 1,132,017 for the years ended December 31, 2020. December 31, 2021. December 31, 2022. Recently Issued Accounting Pronouncement, Not : In June 2022, No. 2022 03, 820 820. December 15, 2023, not |
Note 2 - Revenue Recognition
Note 2 - Revenue Recognition | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 2: The following table includes estimated revenue expected to be recognized in future periods related to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period. The estimated revenues do not 2023 2024 2025 License, NRE and related revenues $ 15,531 $ 739 $ 559 Disaggregation of revenue: The following table provides information about disaggregated revenue by primary geographical market, major product line and timing of revenue recognition: Year ended December 31, 2021 Year ended December 31, 2022 Licensing, NRE and related revenues Royalties Total Licensing, NRE and related revenues Royalties Total Primary geographical markets United States $ 16,685 $ 10,033 $ 26,718 $ 20,995 $ 7,100 $ 28,095 Europe and Middle East 2,938 3,938 6,876 6,864 3,205 10,069 Asia Pacific 53,194 35,908 89,102 61,400 35,084 96,484 Other 10 — 10 — — — Total $ 72,827 $ 49,879 $ 122,706 $ 89,259 $ 45,389 $ 134,648 Major product/service lines Connectivity products (baseband for handset and other devices, Bluetooth, Wi-Fi, NB-IoT, and SATA/SAS) $ 52,460 $ 36,960 $ 89,420 $ 62,376 $ 33,891 $ 96,267 Smart sensing products (AI, sensor fusion, audio/sound and imaging and vision) 20,367 12,919 33,286 26,883 11,498 38,381 Total $ 72,827 $ 49,879 $ 122,706 $ 89,259 $ 45,389 $ 134,648 Timing of revenue recognition Products transferred at a point in time $ 53,401 $ 49,879 $ 103,280 $ 62,328 $ 45,389 $ 107,717 Products and services transferred over time 19,426 — 19,426 26,931 — 26,931 Total $ 72,827 $ 49,879 $ 122,706 $ 89,259 $ 45,389 $ 134,648 Year ended December 31, 2020 Licensing and related revenues Royalties Total Primary geographical markets United States $ 6,716 $ 14,097 $ 20,813 Europe and Middle East 6,176 5,790 11,966 Asia Pacific 39,621 27,926 67,547 Total $ 52,513 $ 47,813 $ 100,326 Major product/service lines Connectivity products (baseband for handset and other devices, Bluetooth, Wi-Fi, NB-IoT, and SATA/SAS) $ 40,748 $ 37,917 $ 78,665 Smart sensing products (AI, sensor fusion, audio/sound and imaging and vision) 11,765 9,896 21,661 Total $ 52,513 $ 47,813 $ 100,326 Timing of revenue recognition Products transferred at a point in time $ 40,075 $ 47,813 $ 87,888 Products and services transferred over time 12,438 — 12,438 Total $ 52,513 $ 47,813 $ 100,326 Contract balances: The following table provides information about trade receivables, unbilled receivables and contract liabilities from contracts with customers: December 31, 2021 December 31, 2022 Trade receivables $ 14,644 $ 12,297 Unbilled receivables (associated with licensing, NRE and related revenue) 1,833 8,695 Unbilled receivables (associated with royalties) 10,972 10,258 Deferred revenues (short-term contract liabilities) 8,661 3,168 The Company receives payments from customers based upon contractual payment schedules; trade receivables are recorded when the right to consideration becomes unconditional, and an invoice is issued to the customer. Unbilled receivables associated with licensing and other include amounts related to the Company’s contractual right to consideration for completed performance objectives not not During the year ended December 31, 2022, January 1, 2022. Practical expediency and exemptions: The Company generally expenses sales commissions when incurred because the amortization period would have been less than one The Company does not one |
Note 3 - Marketable Securities
Note 3 - Marketable Securities | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Cash, Cash Equivalents, and Marketable Securities [Text Block] | NOTE 3: The following is a summary of available-for-sale marketable securities at December 31, 2021 2022: As at December 31, 2022 Amortized cost Gross unrealized gains Gross unrealized losses Fair value Available-for-sale - matures within one year: Corporate bonds $ 17,552 $ — $ (1,330 ) $ 16,222 Available-for-sale - matures after one year through five years: Corporate bonds 101,355 38 (5,535 ) 95,858 Total $ 118,907 $ 38 $ (6,865 ) $ 112,080 As at December 31, 2021 Amortized cost Gross unrealized gains Gross unrealized losses Fair value Available-for-sale - matures within one year: Corporate bonds $ 11,937 $ 39 $ (7 ) $ 11,969 Available-for-sale - matures after one year through five years: Corporate bonds 78,920 227 (818 ) 78,329 Total $ 90,857 $ 266 $ (825 ) $ 90,298 The following table presents gross unrealized losses and fair values for those investments that were in an unrealized loss position as of December 31, 2021 2022, Less than 12 months 12 months or greater Fair value Gross unrealized loss Fair value Gross unrealized loss As of December 31, 2022 $ 58,706 $ (1,885 ) $ 48,539 $ (4,980 ) As of December 31, 2021 $ 53,412 $ (667 ) $ 12,039 $ (158 ) During the years ended December 31, 2020, 2021 2022 not The following table presents gross realized gains and losses from sale of available-for-sale marketable securities: Year ended December 31, 2020 2021 2022 Gross realized gains from sale of available-for-sale marketable securities $ 14 $ 43 $ — Gross realized losses from sale of available-for-sale marketable securities $ (20 ) $ (30 ) $ (55 ) |
Note 4 - Leases
Note 4 - Leases | 12 Months Ended |
Dec. 31, 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 rate for all of the Company’s operating leases: December 31, 2022 Weighted average remaining lease term (years) 4.89 Weighted average discount rate 3.20 % Total operating lease cost and cash payments for operating leases were as follows: Year ended December 31, 2021 2022 Operating lease cost $ 3,085 $ 3,288 Cash payments for operating leases $ 3,175 $ 3,211 Maturities of lease liabilities are as follows: 2023 3,040 2024 2,487 2025 1,877 2026 851 2027 and thereafter 2,121 Total undiscounted cash flows 10,376 Less imputed interest 691 Present value of lease liabilities $ 9,685 |
Note 5 - Fair Value Measurement
Note 5 - Fair Value Measurement | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 5: FASB ASC No. 820, three Level I Unadjusted quoted prices in active markets that are accessible on the measurement date for identical, unrestricted assets or liabilities; Level II Quoted prices in markets that are not Level III Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no The Company measures its marketable securities, investments in marketable equity securities and foreign currency derivative contracts at fair value. Investments in marketable equity securities are classified within Level I as the securities are traded in an active market. Marketable securities and foreign currency derivative contracts are classified within Level II as the valuation inputs are based on quoted prices and market observable data of similar instruments. The table below sets forth the Company’s assets and liabilities measured at fair value by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Description December 31, 2022 Level I Level II Level III Assets: Marketable securities: Corporate bonds $ 112,080 — $ 112,080 — Foreign exchange contract 13 — 13 — Investments in marketable equity securities 408 408 — — Liabilities: Foreign exchange contracts 119 — 119 — 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 6 - Property and Equipment
Note 6 - Property and Equipment, Net | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 6: Composition of assets, grouped by major classifications, is as follows: As at December 31, 2021 2022 Cost: Computers, software and equipment $ 23,541 $ 25,754 Office furniture and equipment 1,069 1,195 Leasehold improvements 4,180 4,656 28,790 31,605 Less – Accumulated depreciation (22,025 ) (24,506 ) Property and equipment, net $ 6,765 $ 7,099 The Company recorded depreciation expenses in the amount of $3,184 and $3,190 for the years ended December 31, 2021 2022, 2022, no |
Note 7 - Goodwill and Intangibl
Note 7 - Goodwill and Intangible Assets, Net | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | NOTE 7: GOODWILL AND INTANGIBLE ASSETS, NET (a) Goodwill: Changes in goodwill are as follows: Year ended December 31, 2021 2022 Balance as of January 1, $ 51,070 $ 74,777 Acquisition 23,707 — Balance as of December 31, $ 74,777 $ 74,777 (b) Intangible assets: Year ended December 31, 2021 Year ended December 31, 2022 Weighted average amortization p eriod (years) Gross carrying amount Accumulated amortization Net Gross carrying amount Accumulated amortization Impairment (*) Net Intangible assets –amortizable: Intangible assets related to the acquisition of Intrinsix business Customer relationships 5.5 $ 3,604 $ 382 $ 3,222 $ 3,604 $ 1,037 $ — $ 2,567 Customer backlog 1.5 421 164 257 421 421 — — Patents 5.0 218 26 192 218 69 — 149 Core technologies 3.0 3,329 647 2,682 3,329 1,757 — 1,572 Intangible assets related to the acquisition of Hillcrest Labs business Customer relationships 4.4 3,518 2,130 1,388 3,518 2,998 — 520 Customer backlog 0.5 72 72 — 72 72 — — R&D Tools 7.5 2,475 810 1,665 2,475 1,140 — 1,335 Intangible assets related to Immervision assets acquisition R&D Tools 6.4 7,063 2,679 4,384 7,063 3,507 3,556 — Intangible assets related to an investment in NB-IoT technologies NB-IoT technologies (**) 7.0 1,961 1,144 817 1,961 1,424 — 537 Total intangible assets $ 22,661 $ 8,054 $ 14,607 $ 22,661 $ 12,425 $ 3,556 $ 6,680 (*) During 2022, August 2019, (**) During the first 2018, not 2022. not December 31, 2022. 2019 Future estimated annual amortization charges are as follows: 2023 2,611 2024 1,909 2025 1,189 2026 956 2027 15 $ 6,680 The Company recorded amortization expense in the amount of $3,801 and $4,371 for the years ended December 31, 2021 2022, |
Note 8 - Accrued Expenses and O
Note 8 - Accrued Expenses and Other Payables | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | NOTE 8: As at December 31, 2021 2022 Engineering accruals $ 719 $ 779 Professional fees 782 874 Government grants 795 918 Income taxes payable, net 420 2,547 Other 1,314 1,542 Total $ 4,030 $ 6,660 |
Note 9 - Stockholders' Equity
Note 9 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 9: EQUITY a. Common stock: Holders of common stock are entitled to one vote per share on all matters to be voted upon by the Company’s stockholders. In the event of a liquidation, dissolution or winding up of the Company, holders of common stock are entitled to share ratably in all of the Company’s assets. The Board of Directors may no b. Preferred stock: The Company is authorized to issue up to 5,000,000 shares of “blank check” preferred stock, par value $0.001 per share. Such preferred stock may one may may c. Share repurchase program: In August 2008, 2010, 2013, 2014, 2018 2020. As of December 31, 2022, d. Employee and non-employee stock plans: The Company grants a mix of stock options, SARs capped with a ceiling and RSUs to employees and non‑employee directors of the Company and its subsidiaries under the Company’s equity plans and provides the right to purchase common stock pursuant to the Company’s 2002 The SAR unit confers the holder the right to stock appreciation over a preset price of the Company’s common stock during a specified period of time. When the unit is exercised, the appreciation amount is paid through the issuance of shares of the Company’s common stock. The ceiling limits the maximum income for each SAR unit. SARs are considered an equity instrument as it is a net share settled award capped with a ceiling (400% for all SAR grants made in years prior to 2016. 2016, one four A summary of the Company’s stock option and SARs activities and related information for the year ended December 31, 2022, Number of options and SAR units (1) Weighted average exercise price Weighted average remaining contractual term Aggregate intrinsic-value Outstanding at the beginning of the year 126,000 $ 20.06 2.6 $ 2,921 Granted — — Exercised (19,000 ) 18.79 Forfeited or expired (1,000 ) 24.86 Outstanding at the end of the year (2) 106,000 $ 20.24 2.0 $ 609 Exercisable at the end of the year (2) 106,000 $ 20.24 2.0 $ 609 ( 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 Represent options granted to non-employee directors of the Company only. As of December 31, 2022, no In 2020, 2021 2022, not The total intrinsic value of options and SARs exercised during the years ended December 31, 2020, 2021 2022 A RSU award is an agreement to issue shares of the Company’s common stock at the time the award or a portion thereof vests. RSUs granted to employees generally vest in three first 2017, first 2018, two first On February 14, 2022, February 17, 2022, 2011 February 17, 2023, February 17, 2024 February 17, 2025. Also on February 14, 2022, February 17, 2022, 2011 “2022 2022 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. In 2022, 2022 2022 S&P500 The 2022 February 17, 2023, February 17, 2024, February 17, 2025. On November 9, 2022, January 1, 2023. On December 7, 2022, December 31, 2022. A summary of the Company’s RSU and PSU activities and related information for the year ended December 31, 2022, Number of RSUs and PSUs Weighted average grant-date fair value Unvested as at the beginning of the year 688,073 $ 41.18 Granted 628,611 34.52 Vested (330,211 ) 37.61 Forfeited (107,196 ) 43.72 Unvested at the end of the year 879,277 $ 37.57 Stock Plans As of December 31, 2022, 2003 2011 “2011 As of December 31, 2022, 2011 The 2011 February 2011 May 17, 2011. 2002 “2002 2002 2002 2011 2002 2011 2002 December 31, 2022, 2002 On June 2, 2022, 2011 2011 The 2011 422 2011 may 2011 may Unless sooner terminated, the 2011 April 2030. The Company’s Board of Directors or a committee thereof has authority to administer the 2011 2011 2003 Under the Director Plan, 1,350,000 shares of common stock (subject to adjustment in the event of future stock splits, future stock dividends or other similar changes in the common stock or the Company’s capital structure) are authorized for issuance. The Director Plan provides for the grant of nonqualified stock options to non-employee directors. Options must be granted at an exercise price equal to the fair market value of the common stock on the date of grant. Options may not ten Under the original terms of the Director Plan, (a) any person who becomes a non-employee director of the Company was automatically granted an option to purchase 38,000 shares of common stock, (b) on June 30 2004, six July 1 st July 1 st six July 1 st February 2015, 2011 February 2015 2017, July 2018, $124,670, 50% first 50% second July 2020, 2021 2022, February 2019, 38,000 As mentioned above, on June 2, 2022, 2011 2011 December 31, 2022, The Company’s Board of Directors or a committee thereof has authority to administer the Director Plan. The Company’s Board of Directors or a committee thereof has the authority to adopt, amend and repeal the administrative rules, guidelines and practices relating to the Director Plan and to interpret its provisions. 2002 ESPP ) The ESPP was adopted by the Company’s Board of Directors and stockholder in July 2002. 423 December 31, 2022, All of the Company’s employees who are regularly employed for more than five 20 not The ESPP designates offer periods, purchase periods and exercise dates. Offer periods generally will be overlapping periods of 24 six 50% may The price per share at which shares of common stock may ● 85% ● 85% The participant’s purchase right is exercised in the above noted manner on each exercise date arising during the offer period unless, on the first first The ESPP is administered by the Board of Directors or a committee designated by the Board, which will have the authority to terminate or amend the plan, subject to specified restrictions, and otherwise to administer and resolve all questions relating to the administration of the plan. e. Dividend policy: The Company has never declared or paid any cash dividends on its capital stock and does not |
Note 10 - Derivatives and Hedgi
Note 10 - Derivatives and Hedging Activities | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 10: The fair value of the Company’s outstanding derivative instruments is as follows: Year ended December 31, 202 2022 Derivative assets Derivatives designated as cash flow hedging instruments: Foreign exchange forward contracts $ 63 $ 13 Total $ 63 $ 13 Derivative liabilities Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ — $ 23 Foreign exchange forward contracts $ — $ 96 Total $ — $ 119 The Company recorded the fair value of derivative assets in “prepaid expenses and other current assets” and the fair value of derivative liabilities in “accrued expenses and other payables” on the Company’s consolidated balance sheets. The changes in unrealized gains (losses) recognized in “accumulated other comprehensive income (loss)” on derivatives, before tax effect, is as follows: Year ended December 31, 2020 2021 2022 Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ (8 ) $ — $ (361 ) Foreign exchange forward contracts 640 228 (1,100 ) $ 632 $ 228 $ (1,461 ) The net (gains) losses reclassified from “accumulated other comprehensive income (loss)” into income, are as follows: Year ended December 31, 2020 2021 2022 Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ (6 ) $ — $ 338 Foreign exchange forward contracts (682 ) (165 ) 954 $ (688 ) $ (165 ) $ 1,292 CEVA, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) (in thousands, except share data) The Company recorded in cost of revenues and operating expenses, a net gain of $688, a net gain of $165 and a net loss of $1,292 during the years ended December 31, 2020, 2021 2022, |
Note 11 - Accumulated Other Com
Note 11 - Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 11: The following table summarizes the changes in accumulated balances of other comprehensive income (loss), net of taxes: Year ended December 31, 2021 Year ended December 31, 2022 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 $ (427 ) $ 55 $ (372 ) Other comprehensive income (loss) before reclassifications (892 ) 200 (692 ) (5,766 ) (1,316 ) (7,082 ) Amounts reclassified from accumulated other comprehensive income (loss) (13 ) (145 ) (158 ) 51 1,154 1,205 Net current period other comprehensive income (loss) (905 ) 55 (850 ) (5,715 ) (162 ) (5,877 ) Ending balance $ (427 ) $ 55 $ (372 ) $ (6,142 ) $ (107 ) $ (6,249 ) The following table provides details about reclassifications out of accumulated other comprehensive income (loss): Details about Accumulated Other Comprehensive Income (Loss) Components Amount reclassified from accumulated other comprehensive income (loss) Affected Line Item in the Statements of Income (Loss) Year ended December 31, 2020 2021 2022 Unrealized gains (losses) on cash flow hedges $ 14 $ 4 $ (20 ) Cost of revenues 607 144 (1,135 ) Research and development 19 4 (32 ) Sales and marketing 48 13 (105 ) General and administrative 688 165 (1,292 ) Total, before income taxes 83 20 (138 ) Income tax expense (benefit) 605 145 (1,154 ) Total, net of income taxes Unrealized gains (losses) on available-for-sale marketable securities (6 ) 13 (55 ) Financial income, net (1 ) — (4 ) Income tax benefit (5 ) 13 (51 ) Total, net of income taxes $ 600 $ 158 $ (1,205 ) Total, net of income taxes |
Note 12 - Geographic Informatio
Note 12 - Geographic Information and Major Customer Data | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 12: a. Summary information about geographic areas: The Company manages its business on a basis of one reportable segment: the licensing of intellectual property and co-creation solutions to semiconductor companies and electronic equipment manufacturers (see Note 1 Year ended December 31, 2020 2021 2022 Revenues based on customer location: United States $ 20,813 $ 26,718 $ 28,095 Europe, Middle East 11,966 6,876 10,069 Asia Pacific (1) 67,547 89,102 96,484 Other — 10 — $ 100,326 $ 122,706 $ 134,648 (1) China $ 51,726 $ 67,491 $ 75,682 2021 2022 Long-lived assets by geographic region: Israel $ 8,402 $ 9,857 France 599 2,066 United States 4,624 4,339 Other 1,967 1,120 $ 15,592 $ 17,382 b. Major customer data as a percentage of total revenues: The following table sets forth the customers that represented 10% Year ended December 31, 2020 2021 2022 Customer A 14 % 21 % 14 % Customer B 15 % * ) * ) *) Less than 10% c. Information about Products and Services: The following table sets forth the products and services as percentages of the Company’s total revenues in each of the periods set forth below: Year ended December 31, 2020 2021 2022 Connectivity products and services 78 % 73 % 71 % Smart sensing products and services 22 % 27 % 29 % |
Note 13 - Selected Statements o
Note 13 - Selected Statements of Income Data | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Interest and Other Income [Text Block] | NOTE 13: a. Financial income, net: Year ended December 31, 2020 2021 2022 Interest income $ 3,291 $ 1,873 $ 3,190 Gain (loss) on available-for-sale marketable securities, net (6 ) 13 (55 ) Amortization of premium on available-for-sale marketable securities, net (444 ) (420 ) (397 ) Foreign exchange gain (loss), net 443 (1,269 ) 74 Total $ 3,284 $ 197 $ 2,812 b. Remeasurement of marketable equity securities: The Company recorded a gain of $1,983 and a loss of $2,511 in 2021 2022, December 31, 2020, |
Note 14 - Taxes on Income
Note 14 - Taxes on Income | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 14: a. tax reform On December 22, 2017, not 35% 21%; 162 one not not January 1, 2018. In connection with its analysis of the impact of the Tax Act, the Company had $16,053 of Transition Tax inclusion reported on the tax return filed for the year ended December 31, 2017. not The Tax Act added a new code section 951A, 50% 37.5% 2026. 2018 For the fiscal year ended 2020 2021, not Furthermore, the Tax Act limits the carryover of net operating losses generated after tax years 2017 80% January 1, 2018 not not 80% 20 2018 80% b. 1. The Irish operating subsidiaries qualified for a 12.5% tax rate on its trade. Interest income earned by the Irish subsidiaries is taxed at a rate of 25%. As of December 31, 2022, 2018 2. The Israeli subsidiary enjoys certain tax benefits in Israel, particularly as a result of the “Approved Enterprise” and the “Benefited Enterprise” status of its facilities and programs through 2019, 2020. The Israeli subsidiary has been granted “Approved Enterprise” and “Benefited Enterprise” status under the Israeli Law for the Encouragement of Capital Investments. For such Approved Enterprises and Benefited Enterprises, the Israeli subsidiary elected to apply for alternative tax benefits—the waiver of government grants in return for tax exemptions on undistributed income. Upon distribution of such exempt income, the Israeli subsidiary will be subject to corporate tax at the rate ordinarily applicable to the Approved Enterprise’s or Benefited Enterprise’s income. Such tax exemption on undistributed income applies for a limited period of between two ten ten not The Israeli subsidiary is a foreign investor company, or FIC, as defined by the Investment Law. FICs are entitled to further reductions in the tax rate normally applicable to Approved Enterprises and Benefited Enterprises. Depending on the foreign ownership in each tax year, the tax rate can range between 10% (when foreign ownership exceeds 90% 49% no The Company’s Israeli subsidiary’s tax-exempt profit from Approved Enterprises and Benefited Enterprises is permanently reinvested as the Company’s management has determined that the Company does not not not In December 2016, 2017 2018 2016, 1959 73 April 2017. The new tax track under the Amendment, which is applicable to the Israeli subsidiary, is the “Technological Preferred Enterprise”. A Technological Preferred Enterprise is an enterprise for which total consolidated revenues of its parent company and all subsidiaries are less than 10 billion New Israeli Shekel (“NIS”). A Technological Preferred Enterprise, as defined in the law, which is located in the center of Israel (where our Israeli subsidiary is currently located) is subject to tax at a rate of 12% on profits deriving from intellectual property (in development area A, the tax rate is 7.5%), subject to satisfaction of a number of conditions, including compliance with a minimal amount or ratio of annual Research and development expenditure and Research and development employees, as well as having at least 25% 90% In light of the Company's decision not The balance of accumulated income that has not December 31, 2022 In addition, due to a lack of intention to distribute a dividend in a subsidiary that has imprisoned profits, the Company did not December 31, 2022 Income not 2022, 2021 2020. The Israeli subsidiary elected to compute taxable income in accordance with Income Tax Regulations (Rules for Accounting for Foreign Investors Companies and Certain Partnerships and Setting their Taxable Income), 1986. As of December 31, 2022, 2018 3. In 2017, 2018, €500 $534 €500 $534 2019, first €500 $534 2020, 2021, 2022, Since 2021, may As of December 31, 2022, 2020 c. Taxes on income comprised of: Year ended December 31, 2020 2021 2022 Domestic taxes: Current $ 12 $ 5 $ 949 Deferred — (1,536 ) (4,425 ) Foreign taxes: Current 6,337 11,772 6,647 Deferred (1,449 ) (4,949 ) 14,904 $ 4,900 $ 5,292 $ 18,075 Income (loss) before taxes on income: Domestic $ (6,348 ) $ (14,883 ) $ (22,046 ) Foreign 8,869 20,571 16,938 $ 2,521 $ 5,688 $ (5,108 ) d. Reconciliation between the Company s effective tax rate and the U.S. statutory rate: Year ended December 31, 2020 2021 2022 Income (loss) before taxes on income $ 2,521 $ 5,688 $ (5,108 ) Theoretical tax at U.S. statutory rate 529 1,194 (1,073 ) Foreign income taxes at rates other than U.S. rate 810 450 (4,644 ) Technological Preferred Enterprise benefits (*) 22 836 — Subpart F 359 192 301 Non-deductible items 306 340 121 Non-taxable items (690 ) (483 ) (452 ) Taxes for prior years — — (2,257 ) Stock-based compensation expense (666 ) (1,193 ) 267 Impacts of GILTI 644 — 6,736 Tax adjustment in respect of difference tax rate of foreign subsidiary 1,044 108 (8,147 ) Foreign withholding taxes — 648 1,390 Changes in valuation allowance 2,487 2,575 24,585 Other, net 55 625 1,248 Taxes on income $ 4,900 $ 5,292 $ 18,075 (*) Basic and diluted earnings per share amounts of the benefit resulting from: the “Technological Preferred Enterprise benefits” status $ 0.00 $ 0.04 $ — e. Deferred taxes on income: Significant components of the Company’s deferred tax assets are as follows: As at December 31, 2021 2022 Deferred tax assets Operating loss carryforward $ 15,621 $ 11,517 Accrued expenses and deferred revenues 1,951 2,677 Temporary differences related to R&D expenses 5,057 14,677 Equity-based compensation 2,756 5,623 Operating leases 1,737 2,004 Tax credit carry forward 10,997 17,212 Other 132 1,255 Total gross deferred tax assets 38,251 54,965 Valuation allowance (19,288 ) (43,873 ) Net deferred tax assets $ 18,963 $ 11,092 Deferred tax liabilities Operating leases $ 1,719 $ 2,020 Intangible assets 1,394 473 Total deferred tax liabilities $ 3,113 $ 2,493 Net deferred tax assets (*) $ 15,850 $ 8,599 (*) $119 and $4,544 net deferred taxes for the years ended December 31, 2021 2022, Changes in valuation allowances on deferred tax assets result from management's assessment of the Company's ability to utilize certain future tax deductions, operating losses and tax credit carryforwards prior to expiration. Valuation allowances were recorded to reduce deferred tax assets to an amount that will, more likely than not, During the year ended December 31, 2022, no not As of December 31, 2022, f. Uncertain tax positions: A reconciliation of the beginning and ending amount of gross unrecognized tax benefits based on the provisions of FASB ASC No. 740 Year ended December 31, 2021 2022 Beginning of year $ 1,558 $ 1,610 Additions for current year tax positions 133 50 Reductions for prior year’s tax positions (81 ) (27 ) Balance at December 31 $ 1,610 $ 1,633 As of December 31, 2021 2022, not December 31, 2021 2022 not The Company believes that an adequate provision has been made for any adjustments that may not not 12 g. Tax loss carryforwards: As of December 31, 2022, 2030. As of December 31, 2022, As of December 31, 2022, h Tax returns CEVA files income tax returns in the U.S. federal jurisdiction and various state and local jurisdictions. With few exceptions, CEVA is no 2011. |
Note 15 - Related Party Transac
Note 15 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 15: On February 16, 2021, February 16, 2021. December 31, 2022, December 31, 2022 |
Note 16 - Commitments and Conti
Note 16 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 16: a. The Company is not b. As of December 31, 2022, As of December 31, 2022, Minimum rental commitments for leasehold properties Commitments for other lease obligations Other purchase obligations Total 2023 $ 592 $ 6,681 $ 571 $ 7,844 2024 447 4,553 50 5,050 2025 320 4,554 43 4,917 2026 and thereafter 177 — — 177 Total $ 1,536 $ 15,788 $ 664 $ 17,988 c. Royalties: The Company participated in programs sponsored by the Israeli government for the support of research and development activities. Through December 31, 2022, no Royalty expenses relating to the IIA grants included in cost of revenues for the years ended December 31, 2020, 2021 2022 December 31, 2022, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Organization [Policy Text Block] | Organization: CEVA, Inc. (“CEVA” or the “Company”) was incorporated in Delaware on November 22, 1999. November 2002. no CEVA licenses a family of wireless connectivity and smart sensing technologies and is a provider of chip design services. The Company’s offerings include Digital Signal Processors, AI processors, short and long range connectivity solutions, 5G 5G 4D 4/5/6/6E 802.11n/ac/ax CEVA’s Intrinsix business also 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. |
Business Combinations Policy [Policy Text Block] | Acquisitions: On May 31, 2021, ( 100% May 9, 2021 ( third 2021. twenty-four 24 In addition, the Company incurred acquisition-related costs in an amount of $970, which were included in general and administrative expenses for the year ended December 31, 2021. The acquisition has been accounted in accordance with FASB Accounting Standards Codification (“ASC”) No. 805, The results of operations of the combined business, including the acquired business, have been included in the consolidated financial statements as of the closing date. The primary rationale for this acquisition was ( 1 2 3 The purchase price allocation for the acquisition has been determined as follows: Assets Net assets (including cash in the amount of $ 600 $ 872 Intangible assets 7,572 Goodwill 23,707 Total assets $ 32,151 Liabilities Deferred tax liabilities $ 1,660 Total liabilities $ 1,660 Total $ 30,491 The fair value and weighted average estimated useful life of the acquired intangible assets are as follows: Identifiable Intangible Assets Estimated Fair Value Weighted-Average Estimated Useful Life in Years Customer relationships $ 3,604 5.5 Customer backlog 421 1.5 Technologies 3,329 3.0 Patents 218 5.0 Total identifiable intangible assets $ 7,572 The following unaudited pro forma financial information presents combined results of operations for the periods presented, as if the Company had completed the acquisition on January 1, 2020. not Year ended December 31 2020 2021 Pro forma total revenues $ 122,048 $ 131,397 Pro forma net loss (3,837 ) (1,707 ) The intangible assets are amortized based on the pattern upon which the economic benefits of the intangible assets are to be utilized. |
Basis of Accounting, Policy [Policy Text Block] | Basis of presentation: The consolidated financial statements have been prepared according to U.S Generally Accepted Accounting Principles (“U.S. GAAP”). |
Recently Adopted Accounting Pronouncements [Policy Text Block] | Recently Adopted Accounting Pronouncements: In October 2021, No. 2021 08, 805 2021 08 606, 606 No. 2021 08 December 15, 2022, January 1, 2022. not |
Use of Estimates, Policy [Policy Text Block] | Use of estimates : The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company’s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The coronavirus disease (“COVID- 19” may 19 no December 31, 2022. may |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Financial statements in U.S. dollars : A majority of the revenues of the Company and its subsidiaries is generated in U.S. dollars (“dollars”). In addition, a portion of the Company and its subsidiaries’ costs are incurred in dollars. The Company’s management has determined that the dollar is the primary currency of the economic environment in which the Company and its subsidiaries principally operate. Thus, the functional and reporting currency of the Company and its subsidiaries is the dollar. Accordingly, monetary accounts maintained in currencies other than the dollar are remeasured into dollars in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 830, |
Consolidation, Policy [Policy Text Block] | Principles of consolidation : The consolidated financial statements incorporate the financial statements of the Company and all of its subsidiaries. All inter-company balances and transactions have been eliminated on consolidation. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash equivalents : Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three |
Short-term Deposit [Policy Text Block] | Short-term bank deposits : Short-term bank deposits are deposits with maturities of more than three one 2020, 2021 2022, |
Marketable Securities, Policy [Policy Text Block] | Marketable securities : Marketable securities consist mainly of corporate bonds. The Company determines the appropriate classification of marketable securities at the time of purchase and re-evaluates such designation at each balance sheet date. In accordance with FASB ASC No. 320 may one The Company determines realized gains or losses on sale of marketable securities on a specific identification method and records such gains or losses as financial income, net. Available-for-sale debt securities with an amortized cost basis in excess of estimated fair value are assessed to determine what amount of that difference, if any, is caused by expected credit losses. Expected credit losses on available-for-sale debt securities are recognized in financial income, net, on the Company’s consolidated statements of income (loss), and any remaining unrealized losses, net of taxes, are included in accumulated other comprehensive income (loss) in stockholders' equity. The amount of credit losses recorded for the twelve December 31, 2020, 2021 2022 |
Long-term Investments [Policy Text Block] | Long-term bank deposits : Long-term bank deposits are deposits with maturities of more than one 2020, 2021 2022, |
Trade Receivables and Allowance Policy [Policy Text Block] | Trade receivables and allowances: Trade receivables are recorded and carried at the original invoiced amount less an allowance for any potential uncollectible amounts. The Company makes estimates of expected credit losses for the allowance for doubtful accounts and allowance for unbilled receivables based upon its assessment of various factors, including historical experience, the age of the trade receivable balances, credit quality of its customers, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and equipment, net : Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets, at the following annual rates: % Computers, software and equipment 10 - 33 Office furniture and equipment 7 - 33 Leasehold improvements 10 - 20 (the shorter of the expected lease term or useful economic life) The Company’s long-lived assets are reviewed for impairment in accordance with FASB ASC No. 360 10 35, may not No impairment was recorded in 2020, 2021 2022. |
Lessee, Leases [Policy Text Block] | Leases : The Company adopted Topic 842, 1 2 3 Leases are classified as either finance leases or operating leases. A lease is classified as a finance lease if any one no not one not Operating lease right-of-use (“ROU”) assets and liabilities are recognized on the commencement date based on the present value of remaining lease payments over the lease term. For this purpose, the Company considers only payments that are fixed and determinable at the time of commencement. As most of the Company's leases do not 2022, one may The Company elected to not twelve |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill : Goodwill is carried at cost and is not October 1st The Company operates in one one ASC 350 first not not no not not No. 2017 04, 350 three December 31, 2022, |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Intangible assets, net : Acquired intangible assets with finite lives are amortized over their estimated useful lives. The Company amortizes intangible assets with finite lives over periods ranging from half seven The Company’s long-lived assets and intangible assets with finite lives are reviewed for impairment in accordance with FASB ASC No. 360 10 35, may not The Company did not December 31, 2020 2021. 2022, August 2019, 2022, 1 2 |
Investment, Policy [Policy Text Block] | Investments in marketable equity securities: The Company holds an equity interest in Cipia Vision Ltd (CPIA.TA) ("Cipia"). For the year ended December 31, 2020, not December 31, 2020, 321 In November 2021, no December 31, 2022, $1,983 December 31, 2021 2022, |
Revenue from Contract with Customer [Policy Text Block] | Revenue recognition : The following is a description of principal activities from which the Company generates revenue. Revenues are recognized when control of the promised goods or services are transferred to the customers in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company determines revenue recognition through the following steps: ● identification of the contract with a customer; ● identification of the performance obligations in the contract; ● determination of the transaction price; ● allocation of the transaction price to the performance obligations in the contract; and ● recognition of revenue when, or as, the Company satisfies a performance obligation. The Company enters into contracts that can include various combinations of products and services, as detailed below, which are generally capable of being distinct and accounted for as separate performance obligations. The Company generates its revenues from ( 1 2 3 The Company accounts for its IP license revenues and related services, which provide the Company's customers with rights to use the Company's IP, in accordance with ASC 606. may 606, Most of the Company’s contracts with customers contain multiple performance obligations. For these contracts, the Company accounts for individual performance obligations separately, if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. Standalone selling prices of IP license are typically estimated using the residual approach. Standalone selling prices of services are typically estimated based on observable transactions when these services are sold on a standalone basis. Revenues from contracts that involve significant customization of the Company’s IP to customer-specific specifications are considered as one not first Revenues that are derived from the sale of a licensee’s products that incorporate the Company’s IP are classified as royalty revenues. Royalty revenues are recognized during the quarter in which the sale of the product incorporating the Company’s IP occurs. Royalties are calculated either as a percentage of the revenues received by the Company’s licensees on sales of products incorporating the Company’s IP or on a per unit basis, as specified in the agreements with the licensees. For a majority of the Company’s royalty revenues, the Company receives the actual sales data from its customers after the quarter ends and accounts for it as unbilled receivables. When the Company does not Contracts with customers generally contain an agreement to provide for training and post contract support, which consists of telephone or e-mail support, correction of errors (bug fixing) and unspecified updates and upgrades. Fees for post contract support, which takes place after delivery to the customer, are specified in the contract and are generally mandatory for the first may twelve Revenues that are derived from NRE chip design services are performance obligations that are recognized over time as the services are rendered. For time-and-materials contracts, the performance obligation is satisfied, and revenue is recognized over time as the services are performed. Generally, contracts call for billings on a time-and-materials basis; however, in instances when a fixed-fee contract is signed, revenue is recognized over time, based on an input method of labor costs expended, relative to total expected labor costs to complete the contract. Revenues from the sale of development systems and chips are recognized when control of the promised goods or services are transferred to the customers. When contracts involve a significant financing component, the Company adjusts the promised amount of consideration for the effects of the time value of money if the timing of payments agreed to by the parties to the contract (either explicitly or implicitly) provide the customer with a significant benefit of financing, unless the financing period is under one 606. Deferred revenues, which represent a contract liability, include unearned amounts received under license and NRE agreements, unearned technical support and amounts paid by customers not The Company capitalizes sales commission as costs of obtaining a contract when they are incremental and, if they are expected to be recovered, amortized in a manner consistent with the pattern of transfer of the good or service to which the asset relates. If the expected amortization period is one |
Revenue from Contract with Customer, Cost of Sales [Policy Text Block] | Cost of revenue : Cost of revenue includes the costs of products, services and royalty expense payments to the Israeli Innovation Authority of the Ministry of Economy and Industry in Israel (the “IIA“) (refer to Note 16 |
Income Tax, Policy [Policy Text Block] | Income taxes : The Company recognizes income taxes under the liability method. It recognizes deferred income tax assets and liabilities for the expected future consequences of temporary differences between the financial reporting and tax bases of assets and liabilities. These differences are measured using the enacted statutory tax rates that are expected to apply to taxable income for the years in which differences are expected to reverse. The effect of a change in tax rates on deferred income taxes is recognized in the statements of income (loss) during the period that includes the enactment date. Valuation allowance is recorded to reduce the deferred tax assets to the net amount that the Company believes is more likely than not The Company accounts for uncertain tax positions in accordance with ASC 740. 740 10 two first not second 50% |
Research and Development Expense, Policy [Policy Text Block] | Research and development : Research and development costs are charged to the consolidated statements of income (loss) as incurred. |
Government Grants and Tax Credits [Policy Text Block] | Government grants and tax credits : Government grants received by the Company relating to categories of operating expenditures are credited to the consolidated statements of income (loss) during the period in which the expenditure to which they relate is charged. Royalty and non-royalty-bearing grants from the IIA for funding certain approved research and development projects are recognized at the time when the Company is entitled to such grants, on the basis of the related costs incurred, and included as a deduction from research and development expenses in the consolidated statements of income (loss). The Company recorded grants in the amounts of $2,844, $3,595 and $4,850 for the years ended December 31, 2020, 2021 2022, may not The French Research Tax Credit, Crédit d’Impôt Recherche (“CIR”), is a French tax incentive to stimulate research and development (“R&D”) which is relevant for the Company's French subsidiaries (RivieraWaves SAS and CEVA France). Generally, the CIR offsets the income tax to be paid and the remaining portion (if any) can be refunded. The CIR is calculated based on the claimed volume of eligible R&D expenditures by the Company. As a result, the CIR is presented as a deduction from “research and development expenses” in the consolidated statements of income (loss). During the years ended December 31, 2020, 2021 2022, The research & development (R&D) tax credit in the UK is designed to encourage innovation and increase spending on R&D activities for companies operating in the UK. This is relevant to the Company’s subsidiary R&D centers in the UK. Generally, the UK R&D tax credit offsets the income tax to be paid and the remaining portion (if any) will be refunded. The R&D tax credit is calculated based on the claimed volume of eligible R&D expenditures by the Company. As a result, the R&D tax credit is presented as a deduction from “research and development expenses” in the consolidated statements of income (loss). During the years ended December 31, 2020, 2021 2022, |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | Employee benefit plan : Certain of the Company’s employees are eligible to participate in a defined contribution pension plan (the “Plan”). Participants in the Plan may The Company’s U.S. operations maintain a retirement plan (the “U.S. Plan”) that qualifies as a deferred salary arrangement under Section 401 may may Total contributions for the years ended December 31, 2020, 2021 2022 |
Severance Pay [Policy Text Block] | Accrued severance pay : Effective July 1, 2021, August 1, 2016, 14 1963. July 1, 2021, August 1, 2016, June 30, 2021. June 30, 2021, June 30, 2021. may Effective August 1, 2016, 14 1963, July 1, 2021, August 1, 2016. no no not Severance pay expenses, net of related income, for the years ended December 31, 2020, 2021 2022, |
Share-Based Payment Arrangement [Policy Text Block] | Equity-based compensation : The Company accounts for equity-based compensation in accordance with FASB ASC No. 718, The Company use the straight-line recognition method for awards subject to graded vesting based only on a service condition and the accelerated method for awards that are subject to performance or market conditions. The fair value of each RSU and PSU (excluding PSUs based on market condition awards) is the market value as determined by the closing price of the common stock on the day of grant. The Company estimates the fair value of PSU based on market condition awards on the date of grant using the Monte-Carlo simulation model. The fair value for rights to purchase shares of common stock under the Company’s employee stock purchase plan was estimated on the date of grant using the following assumptions: 2020 2021 2022 Expected dividend yield 0% 0% 0% Expected volatility 32% - 60% 39% - 60% 38% - 50% Risk-free interest rate 0.1% - 1.9% 0.1% - 1.7% 0. 5% - 3.0% Expected forfeiture 0% 0% 0% Contractual term of up to 24 months 24 months 24 months During the years ended December 31, 2020, 2021 2022, Year ended December 31, 2020 2021 2022 Cost of revenue $ 639 $ 818 $ 1,461 Research and development, net 6,874 7,287 8,540 Sales and marketing 2,038 1,626 1,550 General and administrative 4,085 3,324 2,954 Total equity-based compensation expense $ 13,636 $ 13,055 $ 14,505 As of December 31, 2022, December 31, 2022, |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair value of financial instruments : The carrying amount of cash, cash equivalents, short term bank deposits, trade receivables, other accounts receivable, trade payables and other accounts payable approximates fair value due to the short-term maturities of these instruments. Marketable securities, marketable equity securities and derivative instruments are carried at fair value. See Note 5 |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive income (loss) : The Company accounts for comprehensive income (loss) in accordance with FASB ASC No. 220, |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of credit risk : Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents, bank deposits, marketable securities, foreign exchange contracts and trade receivables. The Company invests its surplus cash in cash deposits and marketable securities in financial institutions and has established guidelines relating to diversification and maturities to maintain safety and liquidity of the investments. The majority of the Company’s cash and cash equivalents are invested in high grade certificates of deposits with major U.S., European and Israeli banks. Generally, cash and cash equivalents and bank deposits may may no The Company is exposed primarily to fluctuations in the level of U.S. interest rates. To the extent that interest rates rise, fixed interest investments may may The Company is exposed to financial market risks, including changes in interest rates. The Company typically does not The Company’s trade receivables are geographically diverse, mainly in the Asia Pacific, and also in the United States and Europe. Concentration of credit risk with respect to trade receivables is limited by credit limits, ongoing credit evaluation and account monitoring procedures. The Company performs ongoing credit evaluations of its customers and to date has not may Balance at beginning of period Additions Deduction Balance at end of period Year ended December 31, 2022 Allowance for credit losses $ 288 $ 25 $ — $ 313 Year ended December 31, 2021 Allowance for credit losses $ 300 $ 152 $ (164 ) $ 288 Year ended December 31, 2020 Allowance for credit losses $ 327 $ 1,443 $ (1,470 ) $ 300 The Company has no |
Derivatives, Policy [Policy Text Block] | Derivative and hedging activities : The Company follows the requirements of FASB ASC No. 815,” one twelve For derivative instruments that are designated and qualify as a cash flow hedge (i.e., hedging the exposure to variability in expected future cash flows that is attributable to a particular risk), the gain or loss on the derivative instrument is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. As of December 31, 2021, 2022, |
Advertising Cost [Policy Text Block] | Advertising expenses : Advertising expenses are charged to consolidated statements of income (loss) as incurred. Advertising expenses for the years ended December 31, 2020, 2021 2022 |
Treasury Stock [Policy Text Block] | Treasury stock : The Company repurchases its common stock from time to time pursuant to a board-authorized share repurchase program through open market purchases and repurchase plans. The repurchases of common stock are accounted for as treasury stock, and result in a reduction of stockholders’ equity. When treasury shares are reissued, the Company accounts for the reissuance in accordance with FASB ASC No. 505 30, |
Earnings Per Share, Policy [Policy Text Block] | Net income (loss) per share of common stock : Basic net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during each year. Diluted net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during each year, plus dilutive potential shares of common stock considered outstanding during the year, in accordance with FASB ASC No. 260, Year ended December 31, 2020 2021 2022 Numerator: Net income (loss) $ (2,379 ) $ 396 $ (23,183 ) Denominator (in thousands): Basic weighted-average common stock outstanding 22,107 22,819 23,172 Effect of stock-based awards — 432 — Diluted weighted-average common stock outstanding 22,107 23,251 23,172 Basic net income (loss) per share $ (0.11 ) $ 0.02 $ (1.00 ) Diluted net income (loss) per share $ (0.11 ) $ 0.02 $ (1.00 ) The total number of shares related to outstanding equity-based awards excluded from the calculation of diluted net loss per share, since their effect was anti-dilutive, was 1,132,017 for the years ended December 31, 2020. December 31, 2021. December 31, 2022. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncement, Not : In June 2022, No. 2022 03, 820 820. December 15, 2023, not |
Note 1 - Organization and Sig_2
Note 1 - Organization and Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | Identifiable Intangible Assets Estimated Fair Value Weighted-Average Estimated Useful Life in Years Customer relationships $ 3,604 5.5 Customer backlog 421 1.5 Technologies 3,329 3.0 Patents 218 5.0 Total identifiable intangible assets $ 7,572 |
Business Acquisition, Pro Forma Information [Table Text Block] | Year ended December 31 2020 2021 Pro forma total revenues $ 122,048 $ 131,397 Pro forma net loss (3,837 ) (1,707 ) |
Schedule of Property, Plant and Equipment, Annual Depreciation Rates [Table Text Block] | % Computers, software and equipment 10 - 33 Office furniture and equipment 7 - 33 Leasehold improvements 10 - 20 (the shorter of the expected lease term or useful economic life) |
Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | 2020 2021 2022 Expected dividend yield 0% 0% 0% Expected volatility 32% - 60% 39% - 60% 38% - 50% Risk-free interest rate 0.1% - 1.9% 0.1% - 1.7% 0. 5% - 3.0% Expected forfeiture 0% 0% 0% Contractual term of up to 24 months 24 months 24 months |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Year ended December 31, 2020 2021 2022 Cost of revenue $ 639 $ 818 $ 1,461 Research and development, net 6,874 7,287 8,540 Sales and marketing 2,038 1,626 1,550 General and administrative 4,085 3,324 2,954 Total equity-based compensation expense $ 13,636 $ 13,055 $ 14,505 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Balance at beginning of period Additions Deduction Balance at end of period Year ended December 31, 2022 Allowance for credit losses $ 288 $ 25 $ — $ 313 Year ended December 31, 2021 Allowance for credit losses $ 300 $ 152 $ (164 ) $ 288 Year ended December 31, 2020 Allowance for credit losses $ 327 $ 1,443 $ (1,470 ) $ 300 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year ended December 31, 2020 2021 2022 Numerator: Net income (loss) $ (2,379 ) $ 396 $ (23,183 ) Denominator (in thousands): Basic weighted-average common stock outstanding 22,107 22,819 23,172 Effect of stock-based awards — 432 — Diluted weighted-average common stock outstanding 22,107 23,251 23,172 Basic net income (loss) per share $ (0.11 ) $ 0.02 $ (1.00 ) Diluted net income (loss) per share $ (0.11 ) $ 0.02 $ (1.00 ) |
Intrinsix Corp. [Member] | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Assets Net assets (including cash in the amount of $ 600 $ 872 Intangible assets 7,572 Goodwill 23,707 Total assets $ 32,151 Liabilities Deferred tax liabilities $ 1,660 Total liabilities $ 1,660 Total $ 30,491 |
Note 2 - Revenue Recognition (T
Note 2 - Revenue Recognition (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | 2023 2024 2025 License, NRE and related revenues $ 15,531 $ 739 $ 559 |
Disaggregation of Revenue [Table Text Block] | Year ended December 31, 2021 Year ended December 31, 2022 Licensing, NRE and related revenues Royalties Total Licensing, NRE and related revenues Royalties Total Primary geographical markets United States $ 16,685 $ 10,033 $ 26,718 $ 20,995 $ 7,100 $ 28,095 Europe and Middle East 2,938 3,938 6,876 6,864 3,205 10,069 Asia Pacific 53,194 35,908 89,102 61,400 35,084 96,484 Other 10 — 10 — — — Total $ 72,827 $ 49,879 $ 122,706 $ 89,259 $ 45,389 $ 134,648 Major product/service lines Connectivity products (baseband for handset and other devices, Bluetooth, Wi-Fi, NB-IoT, and SATA/SAS) $ 52,460 $ 36,960 $ 89,420 $ 62,376 $ 33,891 $ 96,267 Smart sensing products (AI, sensor fusion, audio/sound and imaging and vision) 20,367 12,919 33,286 26,883 11,498 38,381 Total $ 72,827 $ 49,879 $ 122,706 $ 89,259 $ 45,389 $ 134,648 Timing of revenue recognition Products transferred at a point in time $ 53,401 $ 49,879 $ 103,280 $ 62,328 $ 45,389 $ 107,717 Products and services transferred over time 19,426 — 19,426 26,931 — 26,931 Total $ 72,827 $ 49,879 $ 122,706 $ 89,259 $ 45,389 $ 134,648 Year ended December 31, 2020 Licensing and related revenues Royalties Total Primary geographical markets United States $ 6,716 $ 14,097 $ 20,813 Europe and Middle East 6,176 5,790 11,966 Asia Pacific 39,621 27,926 67,547 Total $ 52,513 $ 47,813 $ 100,326 Major product/service lines Connectivity products (baseband for handset and other devices, Bluetooth, Wi-Fi, NB-IoT, and SATA/SAS) $ 40,748 $ 37,917 $ 78,665 Smart sensing products (AI, sensor fusion, audio/sound and imaging and vision) 11,765 9,896 21,661 Total $ 52,513 $ 47,813 $ 100,326 Timing of revenue recognition Products transferred at a point in time $ 40,075 $ 47,813 $ 87,888 Products and services transferred over time 12,438 — 12,438 Total $ 52,513 $ 47,813 $ 100,326 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | December 31, 2021 December 31, 2022 Trade receivables $ 14,644 $ 12,297 Unbilled receivables (associated with licensing, NRE and related revenue) 1,833 8,695 Unbilled receivables (associated with royalties) 10,972 10,258 Deferred revenues (short-term contract liabilities) 8,661 3,168 |
Note 3 - Marketable Securities
Note 3 - Marketable Securities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] | As at December 31, 2022 Amortized cost Gross unrealized gains Gross unrealized losses Fair value Available-for-sale - matures within one year: Corporate bonds $ 17,552 $ — $ (1,330 ) $ 16,222 Available-for-sale - matures after one year through five years: Corporate bonds 101,355 38 (5,535 ) 95,858 Total $ 118,907 $ 38 $ (6,865 ) $ 112,080 As at December 31, 2021 Amortized cost Gross unrealized gains Gross unrealized losses Fair value Available-for-sale - matures within one year: Corporate bonds $ 11,937 $ 39 $ (7 ) $ 11,969 Available-for-sale - matures after one year through five years: Corporate bonds 78,920 227 (818 ) 78,329 Total $ 90,857 $ 266 $ (825 ) $ 90,298 |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block] | Less than 12 months 12 months or greater Fair value Gross unrealized loss Fair value Gross unrealized loss As of December 31, 2022 $ 58,706 $ (1,885 ) $ 48,539 $ (4,980 ) As of December 31, 2021 $ 53,412 $ (667 ) $ 12,039 $ (158 ) |
Schedule of Realized Gain (Loss) [Table Text Block] | Year ended December 31, 2020 2021 2022 Gross realized gains from sale of available-for-sale marketable securities $ 14 $ 43 $ — Gross realized losses from sale of available-for-sale marketable securities $ (20 ) $ (30 ) $ (55 ) |
Note 4 - Leases (Tables)
Note 4 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Lease, Cost [Table Text Block] | December 31, 2022 Weighted average remaining lease term (years) 4.89 Weighted average discount rate 3.20 % Year ended December 31, 2021 2022 Operating lease cost $ 3,085 $ 3,288 Cash payments for operating leases $ 3,175 $ 3,211 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | 2023 3,040 2024 2,487 2025 1,877 2026 851 2027 and thereafter 2,121 Total undiscounted cash flows 10,376 Less imputed interest 691 Present value of lease liabilities $ 9,685 |
Note 5 - Fair Value Measureme_2
Note 5 - Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Description December 31, 2022 Level I Level II Level III Assets: Marketable securities: Corporate bonds $ 112,080 — $ 112,080 — Foreign exchange contract 13 — 13 — Investments in marketable equity securities 408 408 — — Liabilities: Foreign exchange contracts 119 — 119 — 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 6 - Property and Equipme_2
Note 6 - Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Composition of assets, grouped by major classifications, is as follows: As at December 31, 2021 2022 Cost: Computers, software and equipment $ 23,541 $ 25,754 Office furniture and equipment 1,069 1,195 Leasehold improvements 4,180 4,656 28,790 31,605 Less – Accumulated depreciation (22,025 ) (24,506 ) Property and equipment, net $ 6,765 $ 7,099 |
Note 7 - Goodwill and Intangi_2
Note 7 - Goodwill and Intangible Assets, Net (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | Year ended December 31, 2021 2022 Balance as of January 1, $ 51,070 $ 74,777 Acquisition 23,707 — Balance as of December 31, $ 74,777 $ 74,777 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Year ended December 31, 2021 Year ended December 31, 2022 Weighted average amortization p eriod (years) Gross carrying amount Accumulated amortization Net Gross carrying amount Accumulated amortization Impairment (*) Net Intangible assets –amortizable: Intangible assets related to the acquisition of Intrinsix business Customer relationships 5.5 $ 3,604 $ 382 $ 3,222 $ 3,604 $ 1,037 $ — $ 2,567 Customer backlog 1.5 421 164 257 421 421 — — Patents 5.0 218 26 192 218 69 — 149 Core technologies 3.0 3,329 647 2,682 3,329 1,757 — 1,572 Intangible assets related to the acquisition of Hillcrest Labs business Customer relationships 4.4 3,518 2,130 1,388 3,518 2,998 — 520 Customer backlog 0.5 72 72 — 72 72 — — R&D Tools 7.5 2,475 810 1,665 2,475 1,140 — 1,335 Intangible assets related to Immervision assets acquisition R&D Tools 6.4 7,063 2,679 4,384 7,063 3,507 3,556 — Intangible assets related to an investment in NB-IoT technologies NB-IoT technologies (**) 7.0 1,961 1,144 817 1,961 1,424 — 537 Total intangible assets $ 22,661 $ 8,054 $ 14,607 $ 22,661 $ 12,425 $ 3,556 $ 6,680 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2023 2,611 2024 1,909 2025 1,189 2026 956 2027 15 $ 6,680 |
Note 8 - Accrued Expenses and_2
Note 8 - Accrued Expenses and Other Payables (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | As at December 31, 2021 2022 Engineering accruals $ 719 $ 779 Professional fees 782 874 Government grants 795 918 Income taxes payable, net 420 2,547 Other 1,314 1,542 Total $ 4,030 $ 6,660 |
Note 9 - Stockholders' Equity (
Note 9 - Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 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 at the beginning of the year 126,000 $ 20.06 2.6 $ 2,921 Granted — — Exercised (19,000 ) 18.79 Forfeited or expired (1,000 ) 24.86 Outstanding at the end of the year (2) 106,000 $ 20.24 2.0 $ 609 Exercisable at the end of the year (2) 106,000 $ 20.24 2.0 $ 609 |
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Number of RSUs and PSUs Weighted average grant-date fair value Unvested as at the beginning of the year 688,073 $ 41.18 Granted 628,611 34.52 Vested (330,211 ) 37.61 Forfeited (107,196 ) 43.72 Unvested at the end of the year 879,277 $ 37.57 |
Note 10 - Derivatives and Hed_2
Note 10 - Derivatives and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] | Year ended December 31, 202 2022 Derivative assets Derivatives designated as cash flow hedging instruments: Foreign exchange forward contracts $ 63 $ 13 Total $ 63 $ 13 Derivative liabilities Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ — $ 23 Foreign exchange forward contracts $ — $ 96 Total $ — $ 119 Year ended December 31, 2020 2021 2022 Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ (8 ) $ — $ (361 ) Foreign exchange forward contracts 640 228 (1,100 ) $ 632 $ 228 $ (1,461 ) |
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Year ended December 31, 2020 2021 2022 Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ (6 ) $ — $ 338 Foreign exchange forward contracts (682 ) (165 ) 954 $ (688 ) $ (165 ) $ 1,292 |
Note 11 - Accumulated Other C_2
Note 11 - Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Year ended December 31, 2021 Year ended December 31, 2022 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 $ (427 ) $ 55 $ (372 ) Other comprehensive income (loss) before reclassifications (892 ) 200 (692 ) (5,766 ) (1,316 ) (7,082 ) Amounts reclassified from accumulated other comprehensive income (loss) (13 ) (145 ) (158 ) 51 1,154 1,205 Net current period other comprehensive income (loss) (905 ) 55 (850 ) (5,715 ) (162 ) (5,877 ) Ending balance $ (427 ) $ 55 $ (372 ) $ (6,142 ) $ (107 ) $ (6,249 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Details about Accumulated Other Comprehensive Income (Loss) Components Amount reclassified from accumulated other comprehensive income (loss) Affected Line Item in the Statements of Income (Loss) Year ended December 31, 2020 2021 2022 Unrealized gains (losses) on cash flow hedges $ 14 $ 4 $ (20 ) Cost of revenues 607 144 (1,135 ) Research and development 19 4 (32 ) Sales and marketing 48 13 (105 ) General and administrative 688 165 (1,292 ) Total, before income taxes 83 20 (138 ) Income tax expense (benefit) 605 145 (1,154 ) Total, net of income taxes Unrealized gains (losses) on available-for-sale marketable securities (6 ) 13 (55 ) Financial income, net (1 ) — (4 ) Income tax benefit (5 ) 13 (51 ) Total, net of income taxes $ 600 $ 158 $ (1,205 ) Total, net of income taxes |
Note 12 - Geographic Informat_2
Note 12 - Geographic Information and Major Customer Data (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Revenue from External Customers by Geographic Areas [Table Text Block] | Year ended December 31, 2020 2021 2022 Revenues based on customer location: United States $ 20,813 $ 26,718 $ 28,095 Europe, Middle East 11,966 6,876 10,069 Asia Pacific (1) 67,547 89,102 96,484 Other — 10 — $ 100,326 $ 122,706 $ 134,648 (1) China $ 51,726 $ 67,491 $ 75,682 |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | 2021 2022 Long-lived assets by geographic region: Israel $ 8,402 $ 9,857 France 599 2,066 United States 4,624 4,339 Other 1,967 1,120 $ 15,592 $ 17,382 |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Year ended December 31, 2020 2021 2022 Customer A 14 % 21 % 14 % Customer B 15 % * ) * ) |
Revenue from External Customers by Products and Services [Table Text Block] | Year ended December 31, 2020 2021 2022 Connectivity products and services 78 % 73 % 71 % Smart sensing products and services 22 % 27 % 29 % |
Note 13 - Selected Statements_2
Note 13 - Selected Statements of Income Data (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Interest and Other Income [Table Text Block] | Year ended December 31, 2020 2021 2022 Interest income $ 3,291 $ 1,873 $ 3,190 Gain (loss) on available-for-sale marketable securities, net (6 ) 13 (55 ) Amortization of premium on available-for-sale marketable securities, net (444 ) (420 ) (397 ) Foreign exchange gain (loss), net 443 (1,269 ) 74 Total $ 3,284 $ 197 $ 2,812 |
Note 14 - Taxes on Income (Tabl
Note 14 - Taxes on Income (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year ended December 31, 2020 2021 2022 Domestic taxes: Current $ 12 $ 5 $ 949 Deferred — (1,536 ) (4,425 ) Foreign taxes: Current 6,337 11,772 6,647 Deferred (1,449 ) (4,949 ) 14,904 $ 4,900 $ 5,292 $ 18,075 Income (loss) before taxes on income: Domestic $ (6,348 ) $ (14,883 ) $ (22,046 ) Foreign 8,869 20,571 16,938 $ 2,521 $ 5,688 $ (5,108 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year ended December 31, 2020 2021 2022 Income (loss) before taxes on income $ 2,521 $ 5,688 $ (5,108 ) Theoretical tax at U.S. statutory rate 529 1,194 (1,073 ) Foreign income taxes at rates other than U.S. rate 810 450 (4,644 ) Technological Preferred Enterprise benefits (*) 22 836 — Subpart F 359 192 301 Non-deductible items 306 340 121 Non-taxable items (690 ) (483 ) (452 ) Taxes for prior years — — (2,257 ) Stock-based compensation expense (666 ) (1,193 ) 267 Impacts of GILTI 644 — 6,736 Tax adjustment in respect of difference tax rate of foreign subsidiary 1,044 108 (8,147 ) Foreign withholding taxes — 648 1,390 Changes in valuation allowance 2,487 2,575 24,585 Other, net 55 625 1,248 Taxes on income $ 4,900 $ 5,292 $ 18,075 (*) Basic and diluted earnings per share amounts of the benefit resulting from: the “Technological Preferred Enterprise benefits” status $ 0.00 $ 0.04 $ — |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | As at December 31, 2021 2022 Deferred tax assets Operating loss carryforward $ 15,621 $ 11,517 Accrued expenses and deferred revenues 1,951 2,677 Temporary differences related to R&D expenses 5,057 14,677 Equity-based compensation 2,756 5,623 Operating leases 1,737 2,004 Tax credit carry forward 10,997 17,212 Other 132 1,255 Total gross deferred tax assets 38,251 54,965 Valuation allowance (19,288 ) (43,873 ) Net deferred tax assets $ 18,963 $ 11,092 Deferred tax liabilities Operating leases $ 1,719 $ 2,020 Intangible assets 1,394 473 Total deferred tax liabilities $ 3,113 $ 2,493 Net deferred tax assets (*) $ 15,850 $ 8,599 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | Year ended December 31, 2021 2022 Beginning of year $ 1,558 $ 1,610 Additions for current year tax positions 133 50 Reductions for prior year’s tax positions (81 ) (27 ) Balance at December 31 $ 1,610 $ 1,633 |
Note 16 - Commitments and Con_2
Note 16 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Contractual Obligation, Fiscal Year Maturity [Table Text Block] | Minimum rental commitments for leasehold properties Commitments for other lease obligations Other purchase obligations Total 2023 $ 592 $ 6,681 $ 571 $ 7,844 2024 447 4,553 50 5,050 2025 320 4,554 43 4,917 2026 and thereafter 177 — — 177 Total $ 1,536 $ 15,788 $ 664 $ 17,988 |
Note 1 - Organization and Sig_3
Note 1 - Organization and Significant Accounting Policies (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
May 31, 2021 USD ($) | Sep. 30, 2021 USD ($) | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2020 USD ($) shares | Dec. 31, 2019 | |
Impairment of Long-Lived Assets to be Disposed of | $ 0 | $ 0 | $ 0 | |||
Number of Operating Segments | 1 | |||||
Number of Reportable Segments | 1 | |||||
Goodwill, Impairment Loss | $ 0 | |||||
Impairment of Intangible Assets, Finite-Lived | 3,556 | 0 | 0 | |||
Investments, Fair Value Disclosure, Total | 408 | |||||
Remeasurement of Marketable Equity Securities | $ 2,511 | (1,983) | 0 | |||
Technical Support Period (Month) | 12 months | |||||
Sales Commission, Expected Amortization Period Within Which the Sales Commission Fee is Expensed When Incurred (Year) | 1 year | |||||
Reduction from Research and Development Expenses Due to Receipt of Grants | $ 4,850 | 3,595 | 2,844 | |||
Research and Development Tax Credit | 2,152 | 2,299 | 3,287 | |||
Investment Tax Credit | $ 164 | 248 | 198 | |||
Defined Contribution Plan, Contribution Rate | 10% | |||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 50% | |||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 6% | |||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 15% | |||||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 1,034 | 1,155 | 1,232 | |||
Severance Costs | 2,706 | 1,943 | 1,983 | |||
Advertising Expense | $ 746 | $ 623 | $ 559 | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares | 985,277 | 65,073 | 1,132,017 | |||
Foreign Exchange Forward and Option Contracts [Member] | Cash Flow Hedging [Member] | ||||||
Derivative, Notional Amount | $ 12,200 | $ 4,500 | ||||
Restricted Stock Units, Performance Stock Units and ESPP [Member] | ||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 22,376 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 7 months 6 days | |||||
Restricted Stock Units (RSUs) [Member] | ||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 0 | |||||
NB-IoT technologies [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 7 years | |||||
Minimum [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 6 months | |||||
Percentage of Royalty Expense | 3% | |||||
Minimum [Member] | Foreign Exchange Forward and Option Contracts [Member] | Cash Flow Hedging [Member] | ||||||
Payroll of Non-US Employees Hedged, Term of Hedging Contracts (Month) | 1 month | |||||
Maximum [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 7 years 6 months | |||||
Percentage of Royalty Expense | 3.50% | |||||
Maximum [Member] | Foreign Exchange Forward and Option Contracts [Member] | Cash Flow Hedging [Member] | ||||||
Payroll of Non-US Employees Hedged, Term of Hedging Contracts (Month) | 12 months | |||||
Office Building [Member] | ||||||
Operating Lease, Impairment Loss | $ 439 | |||||
Short-Term Investments [Member] | ||||||
Percentage of Interest Rate, Savings Deposits | 1.54% | 1.12% | 2.53% | |||
Long-term Investments [Member] | ||||||
Percentage of Interest Rate, Savings Deposits | 3.80% | 1.15% | 1.32% | |||
Operating Expense [Member] | Immervision Technology [Member] | ||||||
Impairment of Intangible Assets, Finite-Lived | $ 3,556 | |||||
Cost of Sales [Member] | NB-IoT technologies [Member] | ||||||
Impairment of Intangible Assets, Finite-Lived | 479 | |||||
Cost of Sales [Member] | Assets and Services from Purchase Agreement [Member] | ||||||
Impairment of Intangible Assets, Finite-Lived | $ 1,479 | |||||
Intrinsix Corp. [Member] | ||||||
Business Combination, Consideration Transferred, Total | $ 33,096 | |||||
Payments to Acquire Businesses, Gross | 26,704 | |||||
Business Combination, Consideration Transferred, Escrow to Satisfy Indemnification Claims | 4,260 | |||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred | $ (473) | |||||
Intrinsix Corp. [Member] | General and Administrative Expense [Member] | ||||||
Business Combination, Acquisition Related Costs | $ 970 | |||||
Intrinsix Corp. [Member] | Chief Executive Officer and Chief Technology Officer of Intrinsix [Member] | ||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 2,605 | |||||
Percentage of Merger Consideration | 25% |
Note 1 - Organization and Sig_4
Note 1 - Organization and Significant Accounting Policies - Purchase Price Allocation for Intrinsix (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | May 31, 2021 | Dec. 31, 2020 |
Assets | ||||
Goodwill | $ 74,777 | $ 74,777 | $ 51,070 | |
Intrinsix Corp. [Member] | ||||
Assets | ||||
Net assets (including cash in the amount of $600) | $ 872 | |||
Intangible assets | 7,572 | |||
Goodwill | 23,707 | |||
Total assets | 32,151 | |||
Liabilities | ||||
Deferred tax liabilities | 1,660 | |||
Total liabilities | 1,660 | |||
Total | $ 30,491 |
Note 1 - Organization and Sig_5
Note 1 - Organization and Significant Accounting Policies - Purchase Price Allocation for Intrinsix (Details) (Parentheticals) $ in Millions | May 31, 2021 USD ($) |
Intrinsix Corp. [Member] | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | $ 0.6 |
Note 1 - Organization and Sig_6
Note 1 - Organization and Significant Accounting Policies - Acquisition of Intrinsix - Acquired Intangible Assets (Details) $ in Thousands | May 31, 2021 USD ($) |
Intrinsix Merger [Member] | |
Intangible assets | $ 7,572 |
Customer Relationships [Member] | Intrinsix Merger [Member] | |
Intangible assets | $ 3,604 |
Weighted-Average Estimated Useful Life (Year) | 5 years 6 months |
Customer Backlog [Member] | Intrinsix Merger [Member] | |
Intangible assets | $ 421 |
Weighted-Average Estimated Useful Life (Year) | 1 year 6 months |
Technology-Based Intangible Assets [Member] | Intrinsix Corp. [Member] | |
Intangible assets | $ 3,329 |
Weighted-Average Estimated Useful Life (Year) | 3 years |
Patents [Member] | Intrinsix Merger [Member] | |
Intangible assets | $ 218 |
Weighted-Average Estimated Useful Life (Year) | 5 years |
Note 1 - Organization and Sig_7
Note 1 - Organization and Significant Accounting Policies - Acquisition of Intrinsix - Pro Forma Information (Details) - Intrinsix Merger [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Pro forma total revenues | $ 131,397 | $ 122,048 |
Pro forma net loss | $ (1,707) | $ (3,837) |
Note 1 - Organization and Sig_8
Note 1 - Organization and Significant Accounting Policies - Annual Depreciation Rates of Property, Plant and Equipment (Details) | Dec. 31, 2022 |
Minimum [Member] | Computers, Software and Equipment [Member] | |
Computers, software and equipment | 10% |
Minimum [Member] | Office Furniture and Equipment [Member] | |
Computers, software and equipment | 7% |
Minimum [Member] | Leasehold Improvements [Member] | |
Computers, software and equipment | 10% |
Maximum [Member] | Computers, Software and Equipment [Member] | |
Computers, software and equipment | 33% |
Maximum [Member] | Office Furniture and Equipment [Member] | |
Computers, software and equipment | 33% |
Maximum [Member] | Leasehold Improvements [Member] | |
Computers, software and equipment | 20% |
Note 1 - Organization and Sig_9
Note 1 - Organization and Significant Accounting Policies - Assumptions Used to Estimate Fair Value of Employee Stock Purchase Plan (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Expected dividend yield | 0% | 0% | 0% |
Expected volatility, minimum | 38% | 39% | 32% |
Expected volatility, maximum | 50% | 60% | 60% |
Risk-free interest rate, minimum | 0.50% | 0.10% | 0.10% |
Risk-free interest rate, maximum | 3% | 1.70% | 1.90% |
Expected forfeiture | 0% | 0% | 0% |
Contractual term of up to (Month) | 24 months | 24 months | 24 months |
Note 1 - Organization and Si_10
Note 1 - Organization and Significant Accounting Policies - Equity-based Compensation Expenses Related to Stock Options, SARs, RSUs and Employee Stock Purchase Plan (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Total equity-based compensation expense | $ 14,505 | $ 13,055 | $ 13,636 |
Cost of Sales [Member] | |||
Total equity-based compensation expense | 1,461 | 818 | 639 |
Research and Development Expense [Member] | |||
Total equity-based compensation expense | 8,540 | 7,287 | 6,874 |
Sales and Marketing [Member] | |||
Total equity-based compensation expense | 1,550 | 1,626 | 2,038 |
General and Administrative Expense [Member] | |||
Total equity-based compensation expense | $ 2,954 | $ 3,324 | $ 4,085 |
Note 1 - Organization and Si_11
Note 1 - Organization and Significant Accounting Policies - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Allowance for credit losses | $ 288 | $ 300 | $ 327 |
Additions | 25 | 152 | 1,443 |
Deduction | 0 | 164 | 1,470 |
Allowance for credit losses | 313 | 288 | 300 |
Deduction | $ 0 | $ (164) | $ (1,470) |
Note 1 - Organization and Si_12
Note 1 - Organization and Significant Accounting Policies - Calculation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Numerator: | |||
Net income (loss) | $ (23,183) | $ 396 | $ (2,379) |
Denominator (in thousands): | |||
Basic weighted-average common stock outstanding (in shares) | 23,172 | 22,819 | 22,107 |
Effect of stock-based awards (in shares) | 0 | 432 | 0 |
Diluted weighted-average common stock outstanding (in shares) | 23,172 | 23,251 | 22,107 |
Basic net income (loss) per share (in dollars per share) | $ (1) | $ 0.02 | $ (0.11) |
Diluted net income (loss) per share (in dollars per share) | $ (1) | $ 0.02 | $ (0.11) |
Note 2 - Revenue Recognition (D
Note 2 - Revenue Recognition (Details Textual) $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Contract with Customer, Liability, Revenue Recognized | $ 8,351 |
Note 2 - Revenue Recognition -
Note 2 - Revenue Recognition - Remaining Performance Obligation 2 (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
License, NRE and related revenues | $ 15,531 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
License, NRE and related revenues | 739 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
License, NRE and related revenues | $ 559 |
Note 2 - Revenue Recognition _2
Note 2 - Revenue Recognition - Remaining Performance Obligation (Details) (Parentheticals) | Dec. 31, 2022 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 1 year |
Note 2 - Revenue Recognition _3
Note 2 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Revenues | $ 134,648 | $ 122,706 | $ 100,326 | |
Transferred at Point in Time [Member] | ||||
Revenues | 107,717 | 103,280 | 87,888 | |
Transferred over Time [Member] | ||||
Revenues | 26,931 | 19,426 | 12,438 | |
Connectivity Products [Member] | ||||
Revenues | 96,267 | 89,420 | 78,665 | |
Smart Sensing Products [Member] | ||||
Revenues | 38,381 | 33,286 | 21,661 | |
License [Member] | ||||
Revenues | 89,259 | 72,827 | 52,513 | |
License [Member] | Transferred at Point in Time [Member] | ||||
Revenues | 62,328 | 53,401 | 40,075 | |
License [Member] | Transferred over Time [Member] | ||||
Revenues | 26,931 | 19,426 | 12,438 | |
License [Member] | Connectivity Products [Member] | ||||
Revenues | 62,376 | 52,460 | 40,748 | |
License [Member] | Smart Sensing Products [Member] | ||||
Revenues | 26,883 | 20,367 | 11,765 | |
Royalty [Member] | ||||
Revenues | 45,389 | 49,879 | 47,813 | |
Royalty [Member] | Transferred at Point in Time [Member] | ||||
Revenues | 45,389 | 49,879 | 47,813 | |
Royalty [Member] | Transferred over Time [Member] | ||||
Revenues | 0 | |||
Royalty [Member] | Connectivity Products [Member] | ||||
Revenues | 33,891 | 36,960 | 37,917 | |
Royalty [Member] | Smart Sensing Products [Member] | ||||
Revenues | 11,498 | 12,919 | 9,896 | |
UNITED STATES | ||||
Revenues | 28,095 | 26,718 | 20,813 | |
UNITED STATES | License [Member] | ||||
Revenues | 20,995 | 16,685 | 6,716 | |
UNITED STATES | Royalty [Member] | ||||
Revenues | 7,100 | 10,033 | 14,097 | |
Europe and Middle East [Member] | ||||
Revenues | 10,069 | 6,876 | 11,966 | |
Europe and Middle East [Member] | License [Member] | ||||
Revenues | 6,864 | 2,938 | 6,176 | |
Europe and Middle East [Member] | Royalty [Member] | ||||
Revenues | 3,205 | 3,938 | 5,790 | |
Asia Pacific [Member] | ||||
Revenues | [1] | 96,484 | 89,102 | 67,547 |
Asia Pacific [Member] | License [Member] | ||||
Revenues | 61,400 | 53,194 | 39,621 | |
Asia Pacific [Member] | Royalty [Member] | ||||
Revenues | 35,084 | 35,908 | 27,926 | |
Other [Member] | ||||
Revenues | 0 | 10 | $ 0 | |
Other [Member] | License [Member] | ||||
Revenues | 0 | 10 | ||
Other [Member] | Royalty [Member] | ||||
Revenues | $ 0 | $ 0 | ||
[1]China |
Note 2 - Revenue Recognition _4
Note 2 - Revenue Recognition - Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Contract with customer liability, balance | $ 3,168 | $ 8,661 |
Trade Receivables [Member] | ||
Contract with customer asset, balance | 12,297 | 14,644 |
Accrued Revenues [Member] | Licensing and Other [Member] | ||
Contract with customer asset, balance | 8,695 | 1,833 |
Accrued Revenues [Member] | Royalty [Member] | ||
Contract with customer asset, balance | 10,258 | 10,972 |
Deferred Revenue [Member] | ||
Contract with customer liability, balance | $ 3,168 | $ 8,661 |
Note 3 - Marketable Securitie_2
Note 3 - Marketable Securities - Available-for-sale Marketable Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Marketable securities | $ 112,080 | $ 90,298 |
Corporate Bonds [Member] | ||
Available-for-sale - matures within one year, Amortized cost | 17,552 | 11,937 |
Available-for-sale - matures within one year, Gross unrealized gains | 0 | 39 |
Available-for-sale - matures within one year, Gross unrealized losses | (1,330) | (7) |
Available-for-sale - matures within one year, Fair value | 16,222 | 11,969 |
Available-for-sale - matures after one year through five years, Amortized cost | 101,355 | 78,920 |
Available-for-sale - matures after one year through five years, Gross unrealized gains | 38 | 227 |
Available-for-sale - matures after one year through five years, Gross unrealized losses | (5,535) | (818) |
Available-for-sale - matures after one year through five years, Fair value | 95,858 | 78,329 |
Available-for-sale, Amortized cost | 118,907 | 90,857 |
Total | 38 | 266 |
Total | (6,865) | (825) |
Marketable securities | $ 112,080 | $ 90,298 |
Note 3 - Marketable Securitie_3
Note 3 - Marketable Securities - Summary of Gross Unrealized Losses and Fair Values on Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Less than 12 months, Fair value | $ 58,706 | $ 53,412 |
Less than 12 months, Gross unrealized loss | (1,885) | (667) |
12 months or greater, Fair value | 48,539 | 12,039 |
12 months or greater, Gross unrealized loss | $ (4,980) | $ (158) |
Note 3 - Marketable Securitie_4
Note 3 - Marketable Securities - Summary of Gross Realized Gains and Losses from Sale of Available-for-sale Marketable Securities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Gross realized gains from sale of available-for-sale marketable securities | $ 0 | $ 43 | $ 14 |
Gross realized losses from sale of available-for-sale marketable securities | $ (55) | $ (30) | $ (20) |
Note 4 - Leases -Lease Cost (De
Note 4 - Leases -Lease Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Weighted average remaining lease term (years) (Year) | 4 years 10 months 20 days | |
Weighted average discount rate | 3.20% | |
Operating lease cost | $ 3,288 | $ 3,085 |
Cash payments for operating leases | $ 3,211 | $ 3,175 |
Note 4 - Leases - Maturities of
Note 4 - Leases - Maturities of Lease Liabilities (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
2023 | $ 3,040 |
2024 | 2,487 |
2025 | 1,877 |
2026 | 851 |
2027 and thereafter | 2,121 |
Total undiscounted cash flows | 10,376 |
Less imputed interest | 691 |
Present value of lease liabilities | $ 9,685 |
Note 5 - Fair Value Measureme_3
Note 5 - Fair Value Measurement - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Corporate bonds | $ 112,080 | $ 90,298 |
Foreign exchange contract | 13 | 63 |
Investments in marketable equity securities | 408 | 2,919 |
Foreign exchange contracts | 119 | |
Fair Value, Inputs, Level 1 [Member] | ||
Foreign exchange contract | 0 | 0 |
Investments in marketable equity securities | 408 | 2,919 |
Foreign exchange contracts | 0 | |
Fair Value, Inputs, Level 2 [Member] | ||
Foreign exchange contract | 13 | 63 |
Investments in marketable equity securities | 0 | 0 |
Foreign exchange contracts | 119 | |
Fair Value, Inputs, Level 3 [Member] | ||
Foreign exchange contract | 0 | 0 |
Investments in marketable equity securities | 0 | 0 |
Foreign exchange contracts | 0 | |
Corporate Bonds [Member] | ||
Corporate bonds | 112,080 | 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 | 112,080 | 90,298 |
Corporate Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Corporate bonds | $ 0 | $ 0 |
Note 6 - Property and Equipme_3
Note 6 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Depreciation, Total | $ 3,190 | $ 3,184 | $ 3,233 |
Impairment, Long-Lived Asset, Held-for-Use, Total | $ 709 |
Note 6 - Property and Equipme_4
Note 6 - Property and Equipment, Net - Compositions of Assets, Grouped by Major Classification (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Property and equipment, gross | $ 31,605 | $ 28,790 |
Less – Accumulated depreciation | (24,506) | (22,025) |
Property and equipment, net | 7,099 | 6,765 |
Computers, Software and Equipment [Member] | ||
Property and equipment, gross | 25,754 | 23,541 |
Office Furniture and Equipment [Member] | ||
Property and equipment, gross | 1,195 | 1,069 |
Leasehold Improvements [Member] | ||
Property and equipment, gross | $ 4,656 | $ 4,180 |
Note 7 - Goodwill and Intangi_3
Note 7 - Goodwill and Intangible Assets, Net (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2018 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Impairment of Intangible Assets, Finite-Lived | $ 3,556 | $ 0 | $ 0 | ||
Finite-Lived Intangible Assets, Gross, Total | 22,661 | 22,661 | |||
Amortization of Intangible Assets, Total | 2,724 | 2,710 | $ 2,307 | ||
Amortization of Intangible Assets, Including Portion in Cost of Revenues | 4,371 | 3,801 | |||
Immervision Technology [Member] | Operating Expense [Member] | |||||
Impairment of Intangible Assets, Finite-Lived | 3,556 | ||||
NB-IoT technologies [Member] | |||||
Finite-lived Intangible Assets Acquired | $ 2,800 | ||||
Finite Lived Intangible Assets Acquired, Balance Not Received | 600 | ||||
Finite-Lived Intangible Assets, Gross, Total | $ 2,200 | 1,961 | $ 1,961 | ||
Intangible Assets Expenditures Incurred but Not yet Paid | $ 210 | ||||
Amortization of Intangible Assets, Total | $ 239 |
Note 7 - Goodwill and Intangi_4
Note 7 - Goodwill and Intangible Assets, Net - Changes in Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Balance | $ 74,777 | $ 51,070 |
Acquisition | 0 | 23,707 |
Balance | $ 74,777 | $ 74,777 |
Note 7 - Goodwill and Intangi_5
Note 7 - Goodwill and Intangible Assets, Net - Schedule of Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2018 | ||
Total intangible assets, Gross Carrying Amount | $ 22,661 | $ 22,661 | ||
Total intangible assets, Accumulated Amortization | 12,425 | 8,054 | ||
Intangible assets, net | 6,680 | 14,607 | ||
Total intangible assets, Impairment | [1] | $ 3,556 | ||
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 | 1,037 | 382 | ||
Intangible assets, net | 2,567 | 3,222 | ||
Total intangible assets, Impairment | [1] | $ 0 | ||
Customer Relationships [Member] | Acquisition of Hillcrest Labs [Member] | ||||
Total intangible assets, Weighted Average Amortization Period (Year) | 4 years 4 months 24 days | |||
Total intangible assets, Gross Carrying Amount | $ 3,518 | 3,518 | ||
Total intangible assets, Accumulated Amortization | 2,998 | 2,130 | ||
Intangible assets, net | 520 | 1,388 | ||
Total intangible assets, Impairment | [1] | $ 0 | ||
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 | 421 | 164 | ||
Intangible assets, net | 0 | 257 | ||
Total intangible assets, Impairment | [1] | $ 0 | ||
Customer Backlog [Member] | Acquisition of Hillcrest Labs [Member] | ||||
Total intangible assets, Weighted Average Amortization Period (Year) | 6 months | |||
Total intangible assets, Gross Carrying Amount | $ 72 | 72 | ||
Total intangible assets, Accumulated Amortization | 72 | 72 | ||
Intangible assets, net | 0 | 0 | ||
Total intangible assets, Impairment | [1] | $ 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 | 69 | 26 | ||
Intangible assets, net | 149 | 192 | ||
Total intangible assets, Impairment | [1] | $ 0 | ||
Core Technologies [Member] | Intrinsix Corp. [Member] | ||||
Total intangible assets, Weighted Average Amortization Period (Year) | 3 years | |||
Total intangible assets, Gross Carrying Amount | $ 3,329 | 3,329 | ||
Total intangible assets, Accumulated Amortization | 1,757 | 647 | ||
Intangible assets, net | 1,572 | 2,682 | ||
Total intangible assets, Impairment | [1] | $ 0 | ||
Research and Development Tools [Member] | Acquisition of Hillcrest Labs [Member] | ||||
Total intangible assets, Weighted Average Amortization Period (Year) | 7 years 6 months | |||
Total intangible assets, Gross Carrying Amount | $ 2,475 | 2,475 | ||
Total intangible assets, Accumulated Amortization | 1,140 | 810 | ||
Intangible assets, net | 1,335 | 1,665 | ||
Total intangible assets, Impairment | [1] | $ 0 | ||
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 | 3,507 | 2,679 | ||
Intangible assets, net | 0 | 4,384 | ||
Total intangible assets, Impairment | [1] | $ 3,556 | ||
NB-IoT technologies [Member] | ||||
Total intangible assets, Weighted Average Amortization Period (Year) | 7 years | |||
Total intangible assets, Gross Carrying Amount | $ 1,961 | 1,961 | $ 2,200 | |
Total intangible assets, Accumulated Amortization | 1,424 | 1,144 | ||
Intangible assets, net | [2] | 537 | $ 817 | |
Total intangible assets, Impairment | [1] | $ 0 | ||
[1]During 2022, the Company recorded an impairment charge of $3,556 in operating expenses with respect to Immervision technology acquired in August 2019, as the Company has decided to cease the development of this product line.[2]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 have not been received and have been written off during 2022. Of the $2,200, $210 has not resulted in cash outflows as of December 31, 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 $239 related to the NB-IoT technologies, which was reduced from the gross carrying amount of intangible assets. The Company recorded the amortization cost of the NB-IoT technologies in “cost of revenues” on the Company’s consolidated statements of income (loss). |
Note 7 - Goodwill and Intangi_6
Note 7 - Goodwill and Intangible Assets, Net - Future Amortization Expense (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
2023 | $ 2,611 | |
2024 | 1,909 | |
2025 | 1,189 | |
2026 | 956 | |
2027 | 15 | |
Total intangible assets | $ 6,680 | $ 14,607 |
Note 8 - Accrued Expenses and_3
Note 8 - Accrued Expenses and Other Payables - Accrued Expenses and Other Payables (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Engineering accruals | $ 779 | $ 719 |
Professional fees | 874 | 782 |
Government grants | 918 | 795 |
Income taxes payable, net | 2,547 | 420 |
Other | 1,542 | 1,314 |
Total | $ 6,660 | $ 4,030 |
Note 9 - Stockholders' Equity_2
Note 9 - Stockholders' Equity (Details Textual) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | 36 Months Ended | |||||||||||||||||||
Dec. 07, 2022 shares | Nov. 09, 2022 shares | Jun. 02, 2022 shares | Feb. 14, 2022 shares | Feb. 18, 2021 | Feb. 16, 2021 | Jul. 01, 2004 shares | Jun. 30, 2004 shares | Jul. 30, 2020 shares | Feb. 28, 2019 USD ($) | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2021 USD ($) $ / shares shares | Dec. 31, 2020 USD ($) shares | Dec. 31, 2019 shares | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2017 USD ($) | Dec. 31, 2015 | Dec. 31, 2011 shares | Jul. 31, 2002 shares | |||
Common Stock, Number of Votes Per Share | 1 | |||||||||||||||||||||
Preferred Stock, Shares Authorized (in shares) | 5,000,000 | 5,000,000 | ||||||||||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 | ||||||||||||||||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased (in shares) | 1,000,000 | |||||||||||||||||||||
Share Repurchase Program Additional Number of Shares Authorized To Be Repurchased (in shares) | 6,400,000 | |||||||||||||||||||||
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares) | 278,799 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Outstanding Number (in shares) | [2] | 106,000 | [1] | 126,000 | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Grants in Period (in shares) | 0 | [2] | 0 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Exercises in Period, Intrinsic Value | $ | $ 273 | $ 7,177 | $ 6,876 | |||||||||||||||||||
Share-Based Payment Arrangement, Employee [Member] | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Outstanding Number (in shares) | 0 | |||||||||||||||||||||
Non-employee Director [Member] | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Annual Vesting, Percentage | 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% | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Remaining Vesting Period (Month) | 36 months | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 3,200,000 | |||||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 273,693 | |||||||||||||||||||||
The 2002 Stock Incentive Plan [Member] | ||||||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 0 | |||||||||||||||||||||
The 2003 Director Stock Option Plan [Member] | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 1,350,000 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||||||||||||||||||||
The 2003 Director Stock Option Plan [Member] | Non-employee Director [Member] | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total (in shares) | 38,000 | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period (Month) | 6 months | |||||||||||||||||||||
The 2003 Director Stock Option Plan [Member] | Board of Directors [Member] | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total (in shares) | 13,000 | |||||||||||||||||||||
The 2003 Director Stock Option Plan [Member] | Committee Chairperson [Member] | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total (in shares) | 13,000 | |||||||||||||||||||||
The 2003 Director Stock Option Plan [Member] | Board of Directors Chairman [Member] | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total (in shares) | 15,000 | |||||||||||||||||||||
The 2002 Employee Stock Purchase Plan [Member] | ||||||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 89,238 | 3,050,000 | ||||||||||||||||||||
Period Employees Eligible To Participate in Employee Stock Purchase Plan (Month) | 5 months | |||||||||||||||||||||
Minimum Working Hours for Eligibility of Employee Stock Purchase Plan | 20 | |||||||||||||||||||||
Maximum [Member] | 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] | 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] | Chief Executive Officer [Member] | ||||||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 34,887 | |||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Executive Vice President [Member] | ||||||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 16,114 | |||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | The2011 Stock Incentive Plan [Member] | Non-employee Director [Member] | Vesting After the First Anniversary Grant Date [Member] | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50% | |||||||||||||||||||||
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 | |||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | The2011 Stock Incentive Plan [Member] | Board of Directors [Member] | ||||||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 26,984 | 26,551 | 21,392 | |||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | The2011 Stock Incentive Plan [Member] | Board of Directors Chairman [Member] | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted, Annualized Value | $ | $ 268,520 | |||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | The2011 Stock Incentive Plan [Member] | Directors with a Chairperson Position [Member] | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted, Annualized Value | $ | 249,340 | |||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | The2011 Stock Incentive Plan [Member] | Other Board of Directors [Member] | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted, Annualized Value | $ | $ 124,670 | |||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | The2011 Stock Incentive Plan [Member] | Director [Member] | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted, Annualized Value | $ | $ 124,670 | |||||||||||||||||||||
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 20, 2021 [Member] | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.40% | 33.40% | ||||||||||||||||||||
Short-Term Executive PSUs [Member] | Vesting on February 22, 2022 [Member] | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.30% | 33.30% | ||||||||||||||||||||
Short-Term Executive PSUs [Member] | Vesting on February 20, 2023 [Member] | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.30% | 33.30% | ||||||||||||||||||||
Short-Term Executive PSUs [Member] | Goals One [Member] | ||||||||||||||||||||||
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, Grants in Period (in shares) | 7,269 | |||||||||||||||||||||
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, Grants in Period (in shares) | 1,938 | |||||||||||||||||||||
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, Grants in Period (in shares) | 2,423 | |||||||||||||||||||||
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, Grants in Period (in shares) | 1,938 | |||||||||||||||||||||
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% | |||||||||||||||||||||
Performance Share Units [Member] | Chief Executive Officer [Member] | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Percentage of License Revenue Target, Proportional Percentage to Be Received upon Achievement | 98% | |||||||||||||||||||||
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 | |||||||||||||||||||||
Stock Options, Stock Appreciation Rights, Restricted Stock Units, and Performance Share Units [Member] | ||||||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 464,946 | |||||||||||||||||||||
The 2003 Director Stock Option Plan [Member] | ||||||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 0 | |||||||||||||||||||||
[1]Represent options granted to non-employee directors of the Company only. As of December 31, 2022, there were no outstanding or exercisable SAR units left and no outstanding or exercisable options granted to employees left.[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. |
Note 9 - Stockholders' Equity -
Note 9 - Stockholders' Equity - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2019 | |||
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 | 2 years 7 months 6 days | |||
Outstanding, Aggregated intrinsic value | $ 609 | $ 2,921 | |||
Granted, Number of shares (in shares) | 0 | [1] | 0 | ||
Exercised, Number of shares (in shares) | [1] | (19,000) | |||
Exercised, Weighted average exercise price (in dollars per share) | $ 18.79 | ||||
Forfeited or expired, Number of shares (in shares) | [1] | (1,000) | |||
Outstanding, Number of shares (in shares) | [1] | 106,000 | [2] | 126,000 | |
Outstanding, Weighted average exercise price (in dollars per share) | $ 20.24 | $ 20.06 | |||
Exercisable, Number of shares (in shares) | [1] | 106,000 | |||
Exercisable, Weighted average exercise price (in dollars per share) | $ 20.24 | ||||
Exercisable, Weighted average remaining contractual term (Year) | 2 years | ||||
Exercisable, Aggregated intrinsic value | $ 609 | ||||
[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]Represent options granted to non-employee directors of the Company only. As of December 31, 2022, there were no outstanding or exercisable SAR units left and no outstanding or exercisable options granted to employees left. |
Note 9 - Stockholders' Equity_3
Note 9 - Stockholders' Equity - Summary of Restricted Stock Units Activity (Details) - RSUs and PSUs [Member] | 12 Months Ended |
Dec. 31, 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 | 628,611 |
Granted, weighted average fair value (in dollars per share) | $ / shares | $ 34.52 |
Vested, number (in shares) | shares | (330,211) |
Vested, weighted average fair value (in dollars per share) | $ / shares | $ 37.61 |
Forfeited, number (in shares) | shares | (107,196) |
Forfeited or expired, weighted average fair value (in dollars per share) | $ / shares | $ 43.72 |
Unvested, number (in shares) | shares | 879,277 |
Unvested, weighted average fair value (in dollars per share) | $ / shares | $ 37.57 |
Note 10 - Derivatives and Hed_3
Note 10 - Derivatives and Hedging Activities (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Derivative, Gain (Loss) on Derivative, Net, Total | $ 1,292 | $ 165 | $ 688 |
Note 10 - Derivatives and Hed_4
Note 10 - Derivatives and Hedging Activities - Effective Portion of the Gains and Losses on Derivative Instruments Designated (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Foreign exchange forward contracts | $ 13 | $ 63 | |
Foreign exchange contracts | 119 | ||
Changes in unrealized gains (losses) | (1,461) | 228 | $ 632 |
Cash Flow Hedging [Member] | |||
Derivative Asset, Total | 13 | 63 | |
Derivative Liability, Total | 119 | 0 | |
Changes in unrealized gains (losses) | (1,461) | 228 | 632 |
Cash Flow Hedging [Member] | Foreign Exchange Forward [Member] | |||
Foreign exchange forward contracts | 13 | 63 | |
Foreign exchange contracts | 96 | 0 | |
Changes in unrealized gains (losses) | (1,100) | 228 | 640 |
Cash Flow Hedging [Member] | Foreign Exchange Option [Member] | |||
Foreign exchange contracts | 23 | 0 | |
Changes in unrealized gains (losses) | $ (361) | $ 0 | $ (8) |
Note 10 - Derivatives and Hed_5
Note 10 - Derivatives and Hedging Activities - Net (Gains) Losses Reclassified from Accumulated Other Comprehensive Loss (Details) - Derivatives Designated as Cash Flow Hedging Instruments [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total | $ 1,292 | $ (165) | $ (688) |
Foreign Exchange Option Contracts [Member] | |||
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total | 338 | 0 | (6) |
Foreign Exchange Forward Contracts [Member] | |||
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total | $ 954 | $ (165) | $ (682) |
Note 11 - Accumulated Other C_3
Note 11 - Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Balances of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Balance | $ 276,732 | $ 260,889 |
Balance | 258,871 | 276,732 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | ||
Balance | (427) | 478 |
Other comprehensive income (loss) before reclassifications | (5,766) | (892) |
Amounts reclassified from accumulated other comprehensive income (loss) | 51 | (13) |
Net current period other comprehensive income (loss) | (5,715) | (905) |
Balance | (6,142) | (427) |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||
Balance | 55 | 0 |
Other comprehensive income (loss) before reclassifications | (1,316) | 200 |
Amounts reclassified from accumulated other comprehensive income (loss) | 1,154 | (145) |
Net current period other comprehensive income (loss) | (162) | 55 |
Balance | (107) | 55 |
AOCI Attributable to Parent [Member] | ||
Balance | (372) | 478 |
Other comprehensive income (loss) before reclassifications | (7,082) | (692) |
Amounts reclassified from accumulated other comprehensive income (loss) | 1,205 | (158) |
Net current period other comprehensive income (loss) | (5,877) | (850) |
Balance | $ (6,249) | $ (372) |
Note 11 - Accumulated Other C_4
Note 11 - Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cost of revenues | $ (27,052) | $ (16,827) | $ (10,749) |
Research and development | (78,501) | (72,504) | (62,010) |
Sales and marketing | (12,902) | (12,861) | (11,907) |
General and administrative | (15,322) | (14,296) | (14,116) |
Total, before income taxes | (5,108) | 5,688 | 2,521 |
Taxes on income | 18,075 | 5,292 | 4,900 |
Net loss | (23,183) | 396 | (2,379) |
Financial income (loss), net | 2,812 | 197 | 3,284 |
Income tax expense (benefit) | 18,075 | 5,292 | 4,900 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||
Net loss | (1,205) | 158 | 600 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Gains (Losses) on Cash Flow Hedges [Member] | |||
Cost of revenues | (20) | 4 | 14 |
Research and development | (1,135) | 144 | 607 |
Sales and marketing | (32) | 4 | 19 |
General and administrative | (105) | 13 | 48 |
Total, before income taxes | (1,292) | 165 | 688 |
Taxes on income | (138) | 20 | 83 |
Net loss | (1,154) | 145 | 605 |
Income tax expense (benefit) | (138) | 20 | 83 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Gains (Losses) on Available-for-sale Marketable Securities [Member] | |||
Taxes on income | (4) | 0 | (1) |
Net loss | (51) | 13 | (5) |
Financial income (loss), net | (55) | 13 | (6) |
Income tax expense (benefit) | $ (4) | $ 0 | $ (1) |
Note 12 - Geographic Informat_3
Note 12 - Geographic Information and Major Customer Data (Details Textual) | 12 Months Ended |
Dec. 31, 2022 | |
Number of Reportable Segments | 1 |
Note 12 - Geographic Informat_4
Note 12 - Geographic Information and Major Customer Data - Revenues Based On Customer Location (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Revenues | $ 134,648 | $ 122,706 | $ 100,326 | |
UNITED STATES | ||||
Revenues | 28,095 | 26,718 | 20,813 | |
Europe and Middle East [Member] | ||||
Revenues | 10,069 | 6,876 | 11,966 | |
Asia Pacific [Member] | ||||
Revenues | [1] | 96,484 | 89,102 | 67,547 |
Other [Member] | ||||
Revenues | 0 | 10 | 0 | |
CHINA | ||||
Revenues | $ 75,682 | $ 67,491 | $ 51,726 | |
[1]China |
Note 12 - Geographic Informat_5
Note 12 - Geographic Information and Major Customer and Product Data - Long-lived Assets by Geographic Region (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Long-lived assets | $ 17,382 | $ 15,592 |
ISRAEL | ||
Long-lived assets | 9,857 | 8,402 |
FRANCE | ||
Long-lived assets | 2,066 | 599 |
UNITED STATES | ||
Long-lived assets | 4,339 | 4,624 |
Other Geographic Regions [Member] | ||
Long-lived assets | $ 1,120 | $ 1,967 |
Note 12 - Geographic Informat_6
Note 12 - 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] | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Customer A [Member] | |||
Percentage of total revenues | 14% | 21% | 14% |
Customer B [Member] | |||
Percentage of total revenues | 15% |
Note 12 - Geographic Informat_7
Note 12 - Geographic Information and Major Customer and Product Data - Information About Products and Services (Details) - Revenue Benchmark [Member] - Product Concentration Risk [Member] | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Connectivity Products [Member] | |||
Percentage of total revenues | 71% | 73% | 78% |
Smart Sensing Products [Member] | |||
Percentage of total revenues | 29% | 27% | 22% |
Note 13 - Selected Statements_3
Note 13 - Selected Statements of Income Data (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2019 | |
Marketable Securities, Gain (Loss) | $ 2,511 | $ 1,983 | |
Other than Temporary Impairment Losses, Investments, Total | $ 0 |
Note 13 - Selected Statements_4
Note 13 - Selected Statements of Income Data - Financial Income, Net (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Interest income | $ 3,190 | $ 1,873 | $ 3,291 |
Gain (loss) on available-for-sale marketable securities, net | (55) | 13 | (6) |
Amortization of premium on available-for-sale marketable securities, net | (397) | (420) | (444) |
Foreign exchange gain (loss), net | 74 | (1,269) | 443 |
Total | $ 2,812 | $ 197 | $ 3,284 |
Note 14 - Taxes on Income (Deta
Note 14 - Taxes on Income (Details Textual) ₪ in Thousands | 12 Months Ended | 24 Months Ended | ||||||||
Dec. 31, 2022 USD ($) | Dec. 31, 2022 ILS (₪) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2022 ILS (₪) | ||
Tax Cuts and Jobs Act of 2017, Transition Tax, Income Tax Expense (Benefit) | $ 16,053,000 | |||||||||
Income Tax Expense (Benefit), Total | $ 18,075,000 | $ 5,292,000 | $ 4,900,000 | |||||||
Deferred Tax Assets, Net, Total | [1] | 8,599,000 | 15,850,000 | $ 8,599,000 | ||||||
Deferred Tax Assets, Valuation Allowance | 43,873,000 | 19,288,000 | 43,873,000 | |||||||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 1,633,000,000 | $ 1,610,000 | 1,633,000,000 | |||||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | $ 0 | 0 | ||||||||
Maximum [Member] | Technological Preferred Enterprise [Member] | ||||||||||
Taxable Income Subject to Lower Tax Rate | ₪ | ₪ 10,000,000 | |||||||||
Foreign Tax Authority [Member] | Revenue Commissioners, Ireland [Member] | ||||||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 12.50% | 12.50% | ||||||||
Operating Loss Carryforwards | $ 49,611,000 | 49,611,000 | ||||||||
Foreign Tax Authority [Member] | Revenue Commissioners, Ireland [Member] | Interest Income [Member] | ||||||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 25% | 25% | ||||||||
Foreign Tax Authority [Member] | Israel Tax Authority [Member] | ||||||||||
Income Tax Rate, Foreign Ownership Exceeds 90% | 10% | 10% | ||||||||
Income Tax Rate, Foreign Ownership Exceeds 49% | 20% | 20% | ||||||||
Income Tax Expense (Benefit), Total | $ 0 | |||||||||
Undistributed Earnings of Foreign Subsidiaries | 33,677 | 33,677 | ₪ 118,512 | |||||||
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Foreign Subsidiaries | $ 0 | 0 | ||||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 23% | 23% | ||||||||
Open Tax Year | 2018 2019 2020 | 2018 2019 2020 | ||||||||
Deferred Tax Assets, Valuation Allowance | $ 31,494,000 | 31,494,000 | ||||||||
Operating Loss Carryforwards | $ 16,284,000 | $ 16,284,000 | ||||||||
Foreign Tax Authority [Member] | Israel Tax Authority [Member] | Dividends Paid to Foreign Companies [Member] | ||||||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 4% | 4% | ||||||||
Foreign Tax Authority [Member] | Israel Tax Authority [Member] | Intellectual Property [Member] | ||||||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 12% | 12% | ||||||||
Foreign Tax Authority [Member] | Israel Tax Authority [Member] | Intellectual Property [Member] | Development Area A [Member] | ||||||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 7.50% | 7.50% | ||||||||
Foreign Tax Authority [Member] | Israel Tax Authority [Member] | Minimum [Member] | ||||||||||
Tax Exemption Period (Year) | 2 years | 2 years | ||||||||
Foreign Tax Authority [Member] | Israel Tax Authority [Member] | Maximum [Member] | ||||||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 23% | 23% | ||||||||
Tax Exemption Period (Year) | 10 years | 10 years | ||||||||
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | ||||||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 10% | |||||||||
Effective Income Tax Rate Reconciliation, Taxable Profit Up to 500,000 Euros, Percent | 28% | 28% | ||||||||
Effective Income Tax Rate Reconciliation, Taxable Profit Above 500,000 Euros, Percent | 31% | 33.33% | ||||||||
Effective Income Tax Rate Reconciliation, Specific Revenues Under the French Ip Box Regime | 10% | |||||||||
Effective Income Tax Rate Reconciliation, Plus Social Surtax, Percent, Total | 10.30% | |||||||||
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | Tax Year 2020 [Member] | ||||||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 28% | |||||||||
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | Tax Year 2021 [Member] | ||||||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 26.50% | |||||||||
Foreign Tax Authority [Member] | Ministry of the Economy, Finance and Industry, France [Member] | Tax Year 2022 [Member] | ||||||||||
Effective Income Tax Rate Reconciliation, Percent, Total | 25% | |||||||||
Domestic Tax Authority [Member] | ||||||||||
Deferred Tax Assets, Net, Total | $ 4,544,000 | $ 119,000 | $ 4,544,000 | |||||||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||||||||||
Deferred Tax Liabilities, Net, Total | 0 | 0 | ||||||||
State and Local Jurisdiction [Member] | California Franchise Tax Board [Member] | ||||||||||
Operating Loss Carryforwards | $ 27,300,000 | $ 27,300,000 | ||||||||
Net Operating Loss Carryforwards Begins to Expire | 2030 | |||||||||
[1]$45 and $119 net deferred taxes for the years ended December 31, 2020 and 2021, respectively, are from domestic jurisdictions. |
Note 14 - Taxes on Income - Com
Note 14 - Taxes on Income - Composition of Taxes on Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Current | $ 949 | $ 5 | $ 12 |
Deferred | (4,425) | (1,536) | 0 |
Current | 6,647 | 11,772 | 6,337 |
Deferred | 14,904 | (4,949) | (1,449) |
Taxes on income | 18,075 | 5,292 | 4,900 |
Domestic | (22,046) | (14,883) | (6,348) |
Foreign | 16,938 | 20,571 | 8,869 |
Income (loss) before taxes on income | $ (5,108) | $ 5,688 | $ 2,521 |
Note 14 - Taxes on Income - Rec
Note 14 - Taxes on Income - Reconciliation Between the Company's Effective Tax Rate and the U.S. Statutory Rate (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Income (loss) before taxes on income | $ (5,108) | $ 5,688 | $ 2,521 | |
Theoretical tax at U.S. statutory rate | (1,073) | 1,194 | 529 | |
Foreign income taxes at rates other than U.S. rate | (4,644) | 450 | 810 | |
Technological Preferred Enterprise benefits | [1] | 0 | 836 | 22 |
Subpart F | 301 | 192 | 359 | |
Non-deductible items | 121 | 340 | 306 | |
Non-taxable items | (452) | (483) | (690) | |
Taxes for prior years | (2,257) | 0 | 0 | |
Stock-based compensation expense | 267 | (1,193) | (666) | |
Impacts of GILTI | 6,736 | 0 | 644 | |
Tax adjustment in respect of difference tax rate of foreign subsidiary | (8,147) | 108 | 1,044 | |
Foreign withholding taxes | 1,390 | 648 | 0 | |
Changes in valuation allowance | 24,585 | 2,575 | 2,487 | |
Other, net | 1,248 | 625 | 55 | |
Taxes on income | $ 18,075 | $ 5,292 | $ 4,900 | |
the “Technological Preferred Enterprise benefits” status (in dollars per share) | $ 0 | $ 0.04 | $ 0 | |
[1](*) Basic and diluted earnings per share amounts of the benefit resulting from: |
Note 14 - Taxes on Income - Sig
Note 14 - Taxes on Income - Significant Components of the Company's Deferred Tax Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
Deferred tax assets | |||
Operating loss carryforward | $ 11,517 | $ 15,621 | |
Accrued expenses and deferred revenues | 2,677 | 1,951 | |
Temporary differences related to R&D expenses | 14,677 | 5,057 | |
Equity-based compensation | 5,623 | 2,756 | |
Operating leases | 2,004 | 1,737 | |
Tax credit carry forward | 17,212 | 10,997 | |
Other | 1,255 | 132 | |
Total gross deferred tax assets | 54,965 | 38,251 | |
Valuation allowance | (43,873) | (19,288) | |
Net deferred tax assets | 11,092 | 18,963 | |
Deferred tax liabilities | |||
Operating leases | 2,020 | 1,719 | |
Intangible assets | 473 | 1,394 | |
Total deferred tax liabilities | 2,493 | 3,113 | |
Net deferred tax assets (*) | [1] | $ 8,599 | $ 15,850 |
[1]$45 and $119 net deferred taxes for the years ended December 31, 2020 and 2021, respectively, are from domestic jurisdictions. |
Note 14 - Taxes on Income - Unc
Note 14 - Taxes on Income - Uncertain Tax Positions (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Beginning of year | $ 1,610 | $ 1,558 |
Additions for current year tax positions | 50 | 133 |
Reductions for prior year’s tax positions | (27) | (81) |
Ending balance | $ 1,633 | $ 1,610 |
Note 15 - Related Party Trans_2
Note 15 - Related Party Transactions (Details Textual) - Morrison & Foerster LLP [Member] $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Related Party Transaction, Amounts of Transaction | $ 524 |
Due to Related Parties, Current, Total | $ 92 |
Note 16 - Commitments and Con_3
Note 16 - Commitments and Contingencies (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
IIA [Member] | |||
Royalty Payment Percentage, as Percentage of Grant Received | 100% | ||
Accrued Royalties, Current | $ 28,778 | ||
IIA [Member] | Cost of Revenues [Member] | |||
Royalty Expense | $ 1,221 | $ 1,175,000 | $ 1,066,000 |
Minimum [Member] | |||
Percentage of Royalty Expense | 3% | ||
Minimum [Member] | IIA [Member] | |||
Percentage of Royalty Expense | 3% | ||
Maximum [Member] | |||
Percentage of Royalty Expense | 3.50% | ||
Maximum [Member] | IIA [Member] | |||
Percentage of Royalty Expense | 3.50% |
Note 16 - Commitments and Con_4
Note 16 - Commitments and Contingencies - Future Purchase Obligations and Minimum Rental Commitments for Leasehold Properties and Operating Leases With Non-cancelable Terms (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
2023 | $ 7,844 |
2024 | 5,050 |
2025 | 4,917 |
2026 and thereafter | 177 |
Total | 17,988 |
Minimum Rental Commitments for Leasehold Properties [Member] | |
2023 | 592 |
2024 | 447 |
2025 | 320 |
2026 and thereafter | 177 |
Total | 1,536 |
Commitments for Other Lease Obligations [Member] | |
2023 | 6,681 |
2024 | 4,553 |
2025 | 4,554 |
2026 and thereafter | 0 |
Total | 15,788 |
Other Purchase Obligations [Member] | |
2023 | 571 |
2024 | 50 |
2025 | 43 |
2026 and thereafter | 0 |
Total | $ 664 |