Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2024 | May 06, 2024 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2024 | |
Document Transition Report | false | |
Entity File Number | 000-49842 | |
Entity Registrant Name | CEVA, Inc. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 77-0556376 | |
Entity Address, Address Line One | 15245 Shady Grove Road, Suite 400 | |
Entity Address, City or Town | Rockville | |
Entity Address, State or Province | MD | |
Entity Address, Postal Zip Code | 20850 | |
City Area Code | 240 | |
Local Phone Number | 308-8328 | |
Title of 12(b) Security | Common Stock, $.001 per share | |
Trading Symbol | CEVA | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding (in shares) | 23,582,142 | |
Entity Central Index Key | 0001173489 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2024 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Interim Condensed Consolidated
Interim Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Current assets: | ||
Cash and cash equivalents | $ 21,222 | $ 23,287 |
Short-term bank deposits | 10,662 | 10,556 |
Marketable securities | 126,870 | 132,695 |
Trade receivables (net of allowance for credit losses of $288 at both March 31, 2024 and December 31, 2023) | 33,635 | 30,307 |
Prepaid expenses and other current assets | 13,378 | 12,526 |
Total current assets | 205,767 | 209,371 |
Long-term assets: | ||
Severance pay fund | 6,897 | 7,070 |
Deferred tax assets, net | 1,239 | 1,609 |
Property and equipment, net | 7,157 | 6,732 |
Operating lease right-of-use assets | 6,704 | 6,978 |
Goodwill | 58,308 | 58,308 |
Intangible assets, net | 2,689 | 2,967 |
Investments in marketable equity securities | 346 | 406 |
Other long-term assets | 12,332 | 10,644 |
Total long-term assets | 95,672 | 94,714 |
Total assets | 301,439 | 304,085 |
Current liabilities: | ||
Trade payables | 1,804 | 1,154 |
Deferred revenues | 2,479 | 3,018 |
Accrued expenses and other payables | 4,984 | 5,800 |
Accrued payroll and related benefits | 14,854 | 14,402 |
Operating lease liabilities | 2,634 | 2,513 |
Total current liabilities | 26,755 | 26,887 |
Long-term liabilities: | ||
Accrued severance pay | 7,339 | 7,524 |
Operating lease liabilities | 3,525 | 3,943 |
Other accrued liabilities | 1,471 | 1,390 |
Total long-term liabilities | 12,335 | 12,857 |
Stockholders’ equity: | ||
Preferred Stock: $0.001 par value: 5,000,000 shares authorized; none issued and outstanding | 0 | 0 |
Common Stock: $0.001 par value: 45,000,000 shares authorized; 23,695,190 shares issued at March 31, 2024 and December 31, 2023. 23,581,522 and 23,440,848 shares outstanding at March 31, 2024 and December 31, 2023, respectively | 24 | 23 |
Additional paid in-capital | 252,927 | 252,100 |
Treasury stock at cost (113,668 and 254,342 shares of common stock at March 31, 2024, and December 31, 2023, respectively) | (2,528) | (5,620) |
Accumulated other comprehensive loss | (2,720) | (2,329) |
Accumulated Other Comprehensive Income (Loss), Net of Tax | (2,720) | (2,329) |
Retained earnings | 14,646 | 20,167 |
Total stockholders’ equity | 262,349 | 264,341 |
Total liabilities and stockholders’ equity | $ 301,439 | $ 304,085 |
Interim Condensed Consolidate_2
Interim Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Accounts Receivable, Allowance for Credit Loss | $ 288 | $ 288 |
Preferred Stock, Par or Stated Value Per Share (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 or Stated Value Per Share (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) | 23,695,190 | 23,695,190 |
Common Stock, Shares, Outstanding (in shares) | 23,581,522 | 23,440,848 |
Treasury Stock, Common, Shares (in shares) | 113,668 | 254,342 |
Interim Condensed Consolidate_3
Interim Condensed Consolidated Statements of Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
us-gaap_RevenuesAbstract | ||
Revenue | $ 22,072 | $ 26,262 |
Cost of revenues | 2,503 | 3,508 |
Gross profit | 19,569 | 22,754 |
Operating expenses: | ||
Research and development, net | 17,991 | 18,674 |
Sales and marketing | 2,816 | 2,719 |
General and administrative | 3,572 | 3,827 |
Amortization of intangible assets | 150 | 154 |
Total operating expenses | 24,529 | 25,374 |
Operating income (loss) | (4,960) | (2,620) |
Financial income, net | 1,257 | 1,455 |
Remeasurement of marketable equity securities | (60) | (117) |
Loss before taxes on income | (3,763) | (1,282) |
Income tax expense | 1,685 | 1,417 |
Net loss | (5,448) | (2,699) |
Net loss from discontinued operation | 0 | (2,173) |
Net loss | $ (5,448) | $ (4,872) |
Basic and diluted (in dollars per share) | $ (0.23) | $ (0.12) |
Basic and diluted net loss per share from discontinued operation (in dollars per share) | 0 | (0.09) |
Basic and diluted net loss per share (in dollars per share) | $ (0.23) | $ (0.21) |
us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract | ||
Basic and diluted (in shares) | 23,508 | 23,334 |
License [Member] | ||
us-gaap_RevenuesAbstract | ||
Revenue | $ 11,414 | $ 18,248 |
Royalty [Member] | ||
us-gaap_RevenuesAbstract | ||
Revenue | $ 10,658 | $ 8,014 |
Interim Condensed Consolidate_4
Interim Condensed Consolidated Statements of Comprehensive (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net loss: | $ (5,448) | $ (4,872) |
Available-for-sale securities: | ||
Changes in unrealized losses | 200 | 730 |
Reclassification adjustments for (gains) losses included in net loss | (4) | (92) |
Net change | 196 | 638 |
Cash flow hedges: | ||
Changes in unrealized gains (losses) | (195) | (425) |
Reclassification adjustments for losses included in net loss | (380) | 171 |
Net change | (575) | (254) |
Other comprehensive income (loss) before tax | (379) | 384 |
Income tax expense (benefit) related to components of other comprehensive income (loss) | 12 | 45 |
Other comprehensive income (loss), net of taxes | (391) | 339 |
Comprehensive loss | $ (5,839) | $ (4,533) |
Interim Condensed Consolidate_5
Interim Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock Outstanding [Member] | Additional Paid-in Capital [Member] | Treasury Stock, Common [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2022 | 23,215,439 | |||||
Balance at Dec. 31, 2022 | $ 23 | $ 242,841 | $ (9,904) | $ (6,249) | $ 32,160 | $ 258,871 |
Net loss | 0 | 0 | 0 | 0 | (4,872) | (4,872) |
Other comprehensive income | 0 | 0 | 0 | 339 | 0 | 339 |
Equity-based compensation | $ 0 | 3,859 | 0 | 0 | 0 | $ 3,859 |
Issuance of treasury stock upon exercise of stock-based awards (in shares) | 0 | |||||
Issuance of treasury stock upon exercise of stock-based awards (in shares) | 200,587 | |||||
Issuance of treasury stock upon exercise of stock-based awards | $ 0 | (3,559) | 5,232 | 0 | 0 | $ 1,673 |
Balance (in shares) at Mar. 31, 2023 | 23,416,026 | |||||
Balance at Mar. 31, 2023 | $ 23 | 243,141 | (4,672) | (5,910) | 27,288 | 259,870 |
Balance (in shares) at Dec. 31, 2023 | 23,440,848 | |||||
Balance at Dec. 31, 2023 | $ 23 | 252,100 | (5,620) | (2,329) | 20,167 | 264,341 |
Net loss | 0 | 0 | 0 | 0 | (5,448) | (5,448) |
Other comprehensive income | 0 | 0 | 0 | (391) | 0 | (391) |
Equity-based compensation | $ 0 | 3,571 | 0 | 0 | 0 | $ 3,571 |
Issuance of treasury stock upon exercise of stock-based awards (in shares) | (56,872) | 56,872 | ||||
Issuance of treasury stock upon exercise of stock-based awards | $ 0 | 0 | 1,278 | 0 | 0 | $ 1,278 |
Issuance of treasury stock upon exercise of stock-based awards (in shares) | 197,546 | |||||
Issuance of treasury stock upon exercise of stock-based awards | $ 1 | (2,744) | 4,370 | 0 | (73) | 1,554 |
Balance (in shares) at Mar. 31, 2024 | 23,581,522 | |||||
Balance at Mar. 31, 2024 | $ 24 | $ 252,927 | $ (2,528) | $ (2,720) | $ 14,646 | $ 262,349 |
Interim Condensed Consolidate_6
Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash flows from operating activities: | ||
Net loss: | $ (5,448) | $ (4,872) |
Adjustments required to reconcile net loss to net cash provided by (used in) operating activities: | ||
Depreciation | 700 | 742 |
Amortization of intangible assets | 278 | 677 |
Equity-based compensation | 3,571 | 3,859 |
Realized loss (gain) on sale of available-for-sale marketable securities | (4) | (92) |
Amortization of premiums on available-for-sale marketable securities | (191) | (23) |
Amortization of premiums on available-for-sale marketable securities | 191 | 23 |
Unrealized foreign exchange loss (gain) | 165 | (285) |
Remeasurement of marketable equity securities | 60 | 117 |
Changes in operating assets and liabilities: | ||
Trade receivables | (3,003) | (3,802) |
Prepaid expenses and other assets | (3,194) | (2,205) |
Operating lease right-of-use assets | 274 | 249 |
Accrued interest on bank deposits | (106) | (125) |
Deferred tax, net | 358 | (880) |
Trade payables | 433 | (412) |
Deferred revenues | (539) | 838 |
Accrued expenses and other payables | (973) | 357 |
Accrued payroll and related benefits | 510 | 702 |
Operating lease liability | (235) | (275) |
Accrued severance pay, net | (6) | 308 |
Net cash used in operating activities | (7,350) | (5,076) |
Cash flows from investing activities: | ||
Purchase of property and equipment | 904 | 105 |
Proceeds from the sale of Intrinsix (see note 4) | 540 | 0 |
Acquisition of business | (753) | 0 |
Investment in available-for-sale marketable securities | (12,653) | 0 |
Proceeds from maturity of available-for-sale marketable securities | 14,080 | 1,750 |
Proceeds from maturity of available-for-sale marketable securities | 4,789 | 4,895 |
Net cash provided by (used in) investing activities | 5,099 | 6,540 |
Cash flows from financing activities: | ||
Purchase of treasury stock | (1,278) | 0 |
Proceeds from exercise of stock-based awards | 1,554 | 1,673 |
Net cash provided by (used in) financing activities | 276 | 1,673 |
Effect of exchange rate changes on cash and cash equivalents | (90) | 61 |
Increase (decrease) in cash and cash equivalents | (2,065) | 3,198 |
Cash and cash equivalents at the beginning of the period | 23,287 | 21,285 |
Cash and cash equivalents at the end of the period | 21,222 | 24,483 |
Supplemental information of cash-flow activities: | ||
Income and withholding taxes | 873 | 1,860 |
Non-cash transactions: | ||
Property and equipment purchases incurred but unpaid at period end | 200 | 234 |
Right-of-use assets obtained in the exchange for operating lease liabilities | 303 | 506 |
Cash and cash equivalents | 21,222 | 24,209 |
Cash and cash equivalents included in assets of discontinued operation | 0 | 274 |
Total cash and cash equivalents in the Condensed Consolidated Statements of Cash Flows | $ 21,222 | $ 24,483 |
Note 1 - Business
Note 1 - Business | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | NOTE 1: BUSINESS The financial information in this quarterly report includes the results of Ceva, Inc. and its subsidiaries (the “Company” or “Ceva”). Ceva is the leader in innovative silicon and software IP solutions that enable smart edge products to connect, sense, and infer data more reliably and efficiently. With the industry’s only portfolio of comprehensive communications and scalable edge AI IP, Ceva powers the connectivity, sensing, and inference in today’s most advanced smart edge products across consumer IoT, mobile, automotive, infrastructure, industrial, and personal computing. More than 17 billion of the world’s most innovative smart edge products from AI-infused smartwatches, IoT devices and wearables to autonomous vehicles, 5G mobile networks and more are powered by Ceva. Ceva is a trusted partner to many of the leading semiconductor and original equipment manufacturer (OEM) companies targeting a wide variety of cellular and IoT end markets, including mobile, PC, consumer, automotive, smart-home, surveillance, robotics, industrial and medical. The customers incorporate Ceva’s IP into application-specific integrated circuits (ASICs) and application-specific standard products (ASSPs) that they manufacture, market and sell to consumer electronics companies. Ceva’s application software IP is licensed primarily to OEMs who embed it in their System on Chip (SoC) designs to enhance the user experience, and OEMs also license Ceva’s hardware IP products and solutions for their SoC designs to create power-efficient, intelligent, secure and connected devices. Ceva’s wireless communications, sensing and edge AI technologies are at the heart of some of today’s most advanced smart edge products. From Bluetooth connectivity, Wi-Fi, ultra-wide band (UWB) and 5G platform IP for ubiquitous, robust communications, to scalable edge AI neural processing unit (NPU) IPs, sensor fusion processors and embedded application software that make devices smarter. Ceva licenses its portfolio of wireless communications and scalable edge AI IP to its customers, breaking down barriers to entry and enabling them to bring new cutting-edge products to market faster, more reliably, efficiently and economically. |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation and Summary Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | NOTE 2: BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The interim condensed consolidated financial statements have been prepared according to U.S. Generally Accepted Accounting Principles (“U.S. GAAP”). The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2024, are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. For further information, reference is made to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. The significant accounting policies applied in the annual consolidated financial statements of the Company as of December 31, 2023, contained in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 7, 2024, have been applied consistently in these unaudited interim condensed consolidated financial statements. Accounting Standards Recently Adopted by the Company In June 2022, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") No. 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, which clarifies the guidance when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security and introduces new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. The guidance is effective for annual periods beginning after December 15, 2023, with early adoption permitted. The Company adopted ASU 2022-03 as of January 1, 2024. The adoption did not result in a material impact on the Company's interim condensed financial statements. Accounting Standards Recently Issued, Not Yet Adopted by the Company In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-07. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-09. (in thousands, except share data) Use of Estimates The preparation of the interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company’s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the financial statements, the reported amounts of revenues and expenses during the reporting period, and amounts classified as a discontinued operation. Actual results could differ from those estimates. |
Note 3 - Acquisition
Note 3 - Acquisition | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 3: ACQUISITION In January 2024, the Company acquired 100% of the equity shares of a privately held, Greek-based company, to extend the research and development resources in the Ceva group. Under the terms of the purchase agreement, the Company agreed to pay an aggregate of approximately $750 paid at closing and approximately $2,100 subject to continued employment and certain performance milestones. The Company has accounted for this acquisition as an asset acquisition. As such, the total purchase consideration was allocated to the assets acquired. |
Note 4 - Held for Sale and Disc
Note 4 - Held for Sale and Discontinued Operation | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | NOTE 4: HELD FOR SALE AND DISCONTINUED OPERATION On September 14, 2023, the Company and Intrinsix, then its wholly owned subsidiary, entered into a Share Purchase Agreement (the “Agreement”) with Cadence Design Systems, Inc. (“Cadence”), pursuant to which Cadence agreed to purchase all of the issued and outstanding capital shares of Intrinsix from the Company for $35,000 in cash, subject to other certain purchase price adjustments as provided for in the Agreement (the “Transaction”). The closing of the Transaction occurred on October 2, 2023. At the closing, an amount of $300 from the consideration was deposited with a third-party escrow agent for the purposes of satisfying any additional post-closing purchase price adjustments owed by the Company to Cadence (was fully paid to the Company during the first quarter of 2024), a further amount of $3,500 of the consideration was deposited with the same escrow agent for a period of 18 months as security for the Company’s indemnification obligations to Cadence in accordance with the terms and conditions set forth in the Agreement, and after giving effect to post-closing adjustments resulting in a $240 repayment to the Company during the first quarter of 2024. The Agreement includes certain representations, warranties and covenants of the parties, and the Company also agreed to certain non-competition and non-solicitation terms, which are subject to certain exceptions. Under ASC 205-20, " Discontinued Operation As a result of the Transaction, Intrinsix's results of operations and asset and liability balances are disclosed as a discontinued operation. All prior periods comparable results of operation, assets and liabilities have been retroactively included in discontinued operations. The following table shows the Company's results of discontinued operation for the below presented period: Three months ended March 31, 2023 (unaudited) Revenues $ 2,473 Cost of revenue 1,807 Gross profit 666 Operating expenses: Research and development, net 2,117 Sales and marketing 326 General and administrative 221 Amortization of intangible assets 175 Total operating expenses 2,839 Operating loss (2,173 ) Financial income, net — Loss from discontinued operations before taxes on income (2,173 ) Income tax expense — Net loss from discontinued operation $ (2,173 ) The following table presents cash flows from discontinued operations: Three months ended March 31, 2023 (unaudited) Net cash flows used in operating activities (*) $ (1,230 ) (*) Amortization and depreciation allocated to discontinued operation for the three-month period ended March 31, 2023 amounted to $492. |
Note 5 - Revenue Recognition
Note 5 - Revenue Recognition | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 5: REVENUE RECOGNITION Under ASC No. 606, “Revenue from Contracts with Customers” (“ASC 606”), an entity recognizes revenue when or as it satisfies a performance obligation by transferring intellectual property (“IP”) licenses or services to the customer, either at a point in time or over time. The Company recognizes most of its revenues at a point in time upon delivery when the customer accepts control of the IP. The Company recognizes revenue over time on significant license customization contracts that are in the scope of ASC 606 by using cost inputs to measure progress toward completion of its performance obligations. 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. When the Company does not receive actual sales data from the customer prior to the finalization of its financial statements, royalty revenues are recognized based on the Company’s estimation of the customer’s sales during the quarter. 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 include amounts of royalties or unexercised contract renewals: Remainder of 2024 2025 2026 and thereafter Licensing and related revenues $ 4,028 $ 1,015 $ 322 Disaggregation of revenue: The following table provides information about disaggregated revenue by primary geographical, use cases for the Company's technology portfolio, and timing of revenue recognition: Three months ended March 31, 2024 (unaudited) Three months ended March 31, 2023 (unaudited) Licensing and related revenues Royalties Total Licensing and related revenues Royalties Total Geography United States $ 383 $ 2,155 $ 2,538 $ 702 $ 1,650 $ 2,352 Europe and Middle East 601 911 1,512 1,950 859 2,809 Asia Pacific 10,417 7,592 18,009 15,121 5,505 20,626 Other 13 — 13 475 — 475 Total $ 11,414 $ 10,658 $ 22,072 $ 18,248 $ 8,014 $ 26,262 Use cases for the Company’s technology portfolio Connect (baseband for handset and other devices, Bluetooth, Wi-Fi and NB-IoT) $ 10,067 $ 7,939 $ 18,006 $ 15,924 $ 5,665 $ 21,589 Sense & Infer (sensor fusion, audio, sound, imaging, vision and AI) 1,347 2,719 4,066 2,324 2,349 4,673 Total $ 11,414 $ 10,658 $ 22,072 $ 18,248 $ 8,014 $ 26,262 Timing of revenue recognition Products transferred at a point in time $ 9,453 $ 10,658 $ 20,111 $ 14,621 $ 8,014 $ 22,635 Products and services transferred over time 1,961 — 1,961 3,627 — 3,627 Total $ 11,414 $ 10,658 $ 22,072 $ 18,248 $ 8,014 $ 26,262 Contract balances: The following table provides information about trade receivables, unbilled receivables and contract liabilities from contracts with customers: March 31, 2024 December 31, 2023 Trade receivables $ 14,052 $ 8,433 Unbilled receivables (associated with licensing and related revenue) 9,600 9,735 Unbilled receivables (associated with royalties) 9,983 12,139 Deferred revenues (short-term contract liabilities) 2,479 3,018 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 yet invoiced. Unbilled receivables associated with royalties are recorded as the Company recognizes revenues from royalties earned during the quarter, but not yet invoiced, either by actual sales data received from customers, or, when applicable, by the Company’s estimation. Contract liabilities (deferred revenue) include payments received in advance of performance under the contract, and are realized with the associated revenue recognized under the contract. During the three months ended March 31, 2024, the Company recognized $1,179 that was included in deferred revenues (short-term contract liability) balance at January 1, 2024. |
Note 5 - Leases
Note 5 - Leases | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | NOTE 6: LEASES The Company leases substantially all of its office space and vehicles under operating leases. The Company's leases have original lease periods expiring between 2025 and 2034. Many leases include one or more options to renew. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably certain. Lease payments included in the measurement of the lease liability comprise the following: the fixed non-cancelable lease payments, payments for optional renewal periods where it is reasonably certain the renewal period will be exercised, and payments for early termination options unless it is reasonably certain the lease will not be terminated early. The following is a summary of weighted average remaining lease terms and discount rates for all of the Company’s operating leases: March 31, 2024 (Unaudited) Weighted average remaining lease term (years) 3.97 Weighted average discount rates 4.00 % Total operating lease cost and cash payments for operating leases were as follows: Three months ended 2024 2023 (unaudited) (unaudited) Operating lease cost $ 663 $ 753 Cash payments for operating leases 622 727 Maturities of lease liabilities are as follows: The remainder of 2024 $2,082 2025 2,027 2026 880 2027 640 2028 332 2029 and thereafter 621 Total undiscounted cash flows 6,582 Less imputed interest 423 Present value of lease liabilities $ 6,159 |
Note 7 - Marketable Securities
Note 7 - Marketable Securities | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Cash, Cash Equivalents, and Marketable Securities [Text Block] | NOTE 7: MARKETABLE SECURITIES The following is a summary of available-for-sale marketable securities: March 31, 2024 (Unaudited) Amortized Gross Gross Fair Available-for-sale - matures within one year: Corporate bonds $ 49,434 $ 45 $ (743 ) $ 48,736 Available-for-sale - matures after one year through three years: Corporate bonds 80,935 127 (2,928 ) 78,134 Total $ 130,369 $ 172 $ (3,671 ) $ 126,870 December 31, 2023 Amortized Gross Gross Fair Available-for-sale - matures within one year: Corporate bonds $ 27,690 $ 4 $ (243 ) $ 27,451 Available-for-sale - matures after one year through three years: Corporate bonds 108,700 278 (3,734 ) 105,244 Total $ 136,390 $ 282 $ (3,977 ) $ 132,695 The following table presents gross unrealized losses and fair values for those investments that were in an unrealized loss position as of March 31, 2024, and December 31, 2023, and the length of time that those investments have been in a continuous loss position: Less than 12 months 12 months or greater Fair value Gross unrealized loss Fair value Gross unrealized loss As of March 31, 2024 (unaudited) $ 23,123 $ (147 ) $ 76,036 $ (3,524 ) As of December 31, 2023 $ 18,193 $ (49 ) $ 86,643 $ (3,928 ) As of March 31, 2024, the allowance for credit losses was not material. The following table presents gross realized gains and losses from sale of available-for-sale marketable securities: Three months ended 2024 2023 (unaudited) (unaudited) Gross realized gains from sale of available-for-sale marketable securities $ 9 $ 92 Gross realized losses from sale of available-for-sale marketable securities $ (5 ) $ — |
Note 8 - Fair Value Measurement
Note 8 - Fair Value Measurement | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 8: FAIR VALUE MEASUREMENT FASB ASC No. 820, “Fair Value Measurements and Disclosures” defines fair value, establishes a framework for measuring fair value. Fair value is an exit price, representing the amount that would be received for selling an asset or paid for the transfer of a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. A three-tier fair value hierarchy is established as a basis for considering such assumptions and for inputs used in the valuation methodologies in measuring fair value: 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 active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and 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 market activity). The Company measures its marketable securities, investments in marketable equity securities and foreign currency derivative contracts at fair value. The carrying amount of cash, cash equivalents, short-term bank deposits, trade receivables, other accounts receivable, trade payables and other accounts payables approximate fair value due to the short-term maturity of these instruments. 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 March 31, 2024 (unaudited) Level I (unaudited) Level II (unaudited) Level III (unaudited) Assets: Marketable securities: Corporate bonds $ 126,870 — $ 126,870 — Foreign exchange contracts 413 — 413 — Investments in marketable equity securities 346 346 — — Description December 31, 2023 Level I Level II Level III Assets: Marketable securities: Corporate bonds $ 132,695 — $ 132,695 — Foreign exchange contracts 988 — 988 — Investments in marketable equity securities 406 406 — — |
Note 9 - Geographic Information
Note 9 - Geographic Information and Major Customer Data | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 9: GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER DATA a. Summary information about geographic areas: The Company manages its business on the basis of one Three months ended 2024 (unaudited) 2023 (unaudited) Revenues based on customer location: United States $ 2,538 $ 2,352 Europe and Middle East 1,512 2,809 Asia Pacific (1) 18,009 20,626 Other 13 475 $ 22,072 $ 26,262 (1) China $ 13,592 $ 17,763 b. Major customer data as a percentage of total revenues: The following table sets forth the customers that represented 10% or more of the Company’s total revenues in each of the periods set forth below. Three months ended 2024 (unaudited) 2023 (unaudited) Customer A 15 % *) Customer B 14 % *) Customer C *) 14 *) *) Less than 10% |
Note 10 - Net Loss Per Share of
Note 10 - Net Loss Per Share of Common Stock | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 10: NET LOSS PER SHARE OF COMMON STOCK Basic net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during each period. Diluted net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during each period, plus dilutive potential shares of common stock considered outstanding during the period, in accordance with FASB ASC No. 260, “Earnings Per Share.” Three months ended 2024 (unaudited) 2023 (unaudited) Numerator: Net loss from continuing operation $ (5,448 ) $ (2,699 ) Net loss from discontinued operation — (2,173 ) Net loss $ (5,448 ) $ (4,872 ) Denominator (in thousands): Basic and diluted weighted-average common stock outstanding 23,508 23,334 Basic and diluted net loss per share from continuing operation $ (0.23 ) $ (0.12 ) Basic and diluted net loss per share from discontinued operation $ — $ (0.09 ) Basic and diluted net loss per share $ (0.23 ) $ (0.21 ) The total number of shares related to outstanding equity-based awards was 1,560,454 and 1,181,119 for the three months ended March 31, 2024 and 2023, respectively, and in each case was excluded from the calculation of diluted net loss per share. |
Note 11 - Common Stock and Stoc
Note 11 - Common Stock and Stock-based Compensation Plans | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | NOTE 11: COMMON STOCK AND STOCK-BASED COMPENSATION PLANS The Company has historically granted a mix of stock options, stock appreciation rights (“SARs”) capped with a ceiling and restricted stock units (“RSUs”) to employees and non‑employee directors of the Company and its subsidiaries under the Company’s equity plans and provides the right to purchase common stock pursuant to the Company’s 2002 employee stock purchase plan to employees of the Company and its subsidiaries. As of March 31, 2024, and December 31, 2023, there were no The options granted under the Company’s stock incentive plans have been granted at the fair market value of the Company’s common stock on the grant date. Options granted to employees under stock incentive plans generally vest at a rate of 25% of the shares underlying the option after one year and the remaining shares vest in equal portions over the following 36 months, such that all shares are vested after four Number of Weighted exercise Weighted remaining term Aggregate value Outstanding as of December 31, 2023 99,425 $ 20.74 2.5 $ 316 Granted — — Exercised (13,000 ) 14.77 Forfeited or expired — — Outstanding as of March 31, 2024 (unaudited) 86,425 $ 21.64 2.6 $ 213 Exercisable as of March 31, 2024 (unaudited) 67,000 $ 21.64 1.5 $ 192 As of March 31, 2024, there was $184 of unrecognized compensation expense related to unvested stock options. This amount is expected to be recognized over a weighted-average period of 2.2 years. An RSU award is an agreement to issue shares of the Company’s common stock at the time the award or a portion thereof vests. RSUs granted to employees generally vest in three first two first On February 12, 2024, the Compensation Committee of the Board (the “Committee”) granted 33,318, 20,043, 16,399 and 13,535 RSUs, effective as of February 16, 2024, to each of the Company’s Chief Executive Officer (“CEO”), Chief Financial Officer (“CFO”), Chief Operating Officer (“COO”) and Chief Commercial Officer (“CCO”), respectively, pursuant to the Company’s 2011 Stock Incentive Plan (the “2011 Plan”). The RSU grants vest 33.4% on February 16, 2025, 33.3% on February 16, 2026 and 33.3% on February 16, 2027. Also, on February 12, 2024, the Committee granted 49,978, 13,362, 10,932 and 9,023 performance-based restricted stock units (“PSUs”), effective as of February 16, 2024, to each of the Company’s CEO, CFO, COO and CCO, respectively, pursuant to the 2011 Plan. The performance goals for the PSUs with specified weighting are as follows: Weighting Goals 50% (*) Vesting of the full 50% of the PSUs occurs if the Company achieves the 2024 license and related revenue target approved by the Board (the “2024 License Revenue Target”). The vesting threshold is achievement of 90% of the 2024 License Revenue Target. If the Company’s achievement of the 2024 License Revenue Target is above 90% but less than 99% of the 2024 License Revenue Target, 91% to 99% of the eligible PSUs would be subject to vesting. If the Company’s actual result exceeds 100% of the 2024 License Revenue Target, every 1% increase of the 2024 License Revenue Target, up to 120%, would result in an increase of 2% of the eligible PSUs for the Company’s CFO, COO and CCO and an increase of 3% of the eligible PSUs for the Company’s CEO. 25% Vesting of the full 25% of the PSUs occurs if the Company achieves positive total shareholder return whereby the return on the Company’s stock for 2024 is greater than the S&P Semiconductors Select Industry index (the “S&P index”). The vesting threshold is if the return on the Company’s stock for 2024 is at least 90% of the S&P index. If the return on the Company’s stock, in comparison to the S&P index, is above 90% but less than 99% of the S&P index, 91% to 99% of the eligible PSUs would be subject to vesting. If the return on the Company’s stock exceeds 100% of the S&P index, every 1% increase in comparison to the S&P index, up to 120%, would result in an increase of 2% of the eligible PSUs for the Company’s CFO, COO and CCO and an increase of 3% of the eligible PSUs for the Company’s CEO. 25% Vesting of the full 25% of the PSUs occurs if the Company achieves positive total shareholder return whereby the return on the Company’s stock for 2024 is greater than the Russell 2000 index (the “Russell index”). The vesting threshold is if the return on the Company’s stock for 2024 is at least 90% of the Russell index. If the return on the Company’s stock, in comparison to the Russell index, is above 90% but less than 99% of the Russell index, 91% to 99% of the eligible PSUs would be subject to vesting. If the return on the Company’s stock exceeds 100% of the Russell index, every 1% increase in comparison to the Russell index, up to 120%, would result in an increase of 2% of the eligible PSUs for the Company’s CFO, COO and CCO and an increase of 3% of the eligible PSUs for the Company’s CEO. (*) As of March 31, 2024, the Company's management estimates that it is not probable that the performance condition will be met by year end. Accordingly, assuming maximum achievement of the performance goals set forth above, PSUs representing an additional 60%, meaning an additional 29,986, would be eligible for vesting of the Company’s CEO, and an additional 40%, meaning an additional 5,344, 4,372 and 3,609, would be eligible for vesting for each of the Company’s CFO, COO and CCO, respectively. Subject to achievement of the thresholds the above performance goals for 2024, the PSUs vest 33.4% on February 16, 2025, 33.3% on February 16, 2026 and 33.3% on February 16, 2027. A summary of the Company’s RSU and PSU activities and related information for the three months ended March 31, 2024, are as follows: Number of PSUs Weighted Average Grant- Date Unvested as of December 31, 2023 1,281,751 $ 24.97 Granted 414,572 17.21 Vested (112,076 ) 36.71 Forfeited or expired (110,218 ) 19.07 Unvested as of March 31, 2024 (unaudited) 1,474,029 $ 22.34 As of March 31, 2024, there was $22,830 of unrecognized compensation expense related to unvested RSUs and PSUs. This amount is expected to be recognized over a weighted-average period of 1.6 years. The following table shows the total equity-based compensation expense included in the interim condensed consolidated statements of loss: Three months ended 2024 (unaudited) 2023 (unaudited) Cost of revenue $ 203 $ 206 Research and development, net 2,007 2,102 Sales and marketing 365 378 General and administrative 996 866 Total equity-based compensation expense from continuing operations 3,571 3,552 Equity-based compensation expense included in discontinued operations — 307 Total equity-based compensation expense $ 3,571 $ 3,859 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: Three months ended 2024 (unaudited) 2023 (unaudited) Expected dividend yield 0 % 0 % Expected volatility 46 % 45 % Risk-free interest rate 5.3 % 4.8 % Contractual term of up to (months) 6 6 |
Note 12 - Derivatives and Hedgi
Note 12 - Derivatives and Hedging Activities | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 12: DERIVATIVES AND HEDGING ACTIVITIES The Company follows the requirements of FASB ASC No. 815,” Derivatives and Hedging” which requires companies to recognize all of their derivative instruments as either assets or liabilities in the statement of financial position at fair value. The accounting for changes in fair value (i.e., gains or losses) of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging transaction and further, on the type of hedging transaction. For those derivative instruments that are designated and qualify as hedging instruments, a company must designate the hedging instrument, based upon the exposure being hedged, as a fair value hedge, cash flow hedge, or a hedge of a net investment in a foreign operation. Due to the Company’s global operations, it is exposed to foreign currency exchange rate fluctuations in the normal course of its business. The Company’s treasury policy allows it to offset the risks associated with the effects of certain foreign currency exposures through the purchase of foreign exchange forward or option contracts (“Hedging Contracts”). The policy, however, prohibits the Company from speculating on such Hedging Contracts for profit. To protect against the increase in value of forecasted foreign currency cash flow resulting from salaries paid in currencies other than the U.S. dollar during the year, the Company instituted a foreign currency cash flow hedging program. The Company hedges portions of the anticipated payroll of its non-U.S. employees denominated in the currencies other than the U.S. dollar for a period of one to twelve months with Hedging Contracts. Accordingly, when the dollar strengthens against the foreign currencies, the decline in present value of future foreign currency expenses is offset by losses in the fair value of the Hedging Contracts. Conversely, when the dollar weakens, the increase in the present value of future foreign currency expenses is offset by gains in the fair value of the Hedging Contracts. These Hedging Contracts are designated as cash flow hedges. 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 March 31, 2024, and December 31, 2023, the notional principal amount of the Hedging Contracts to sell U.S. dollars held by the Company was $8,700 and $16,500, respectively. The fair value of the Company’s outstanding derivative instruments is as follows: March 31, 2024 December 31, 2023 Derivative assets: Derivatives designated as cash flow hedging instruments: Foreign exchange forward contracts $ 413 $ 988 Total $ 413 $ 988 The increase (decrease) in unrealized gains (losses) recognized in “accumulated other comprehensive gain (loss)” on derivatives, before tax effect, is as follows: Three months ended 2024 (unaudited) 2023 (unaudited) Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ — $ (105 ) Foreign exchange forward contracts (195 ) (320 ) $ (195 ) $ (425 ) The net (gains) losses reclassified from “accumulated other comprehensive gain (loss)” into income are as follows: Three months ended 2024 (unaudited) 2023 (unaudited) Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ — $ — Foreign exchange forward contracts (380 ) 171 $ (380 ) $ 171 The Company recorded in cost of revenues and operating expenses a net gain of $380 and a net loss $171 during the three months ended March 31, 2024 and 2023, respectively, related to its Hedging Contracts. |
Note 13 - Accumulated Other Com
Note 13 - Accumulated Other Comprehensive Income (Loss) | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 13: ACCUMULATED OTHER COMPREHENSIVE LOSS The following tables summarize the changes in accumulated balances of other comprehensive income (loss), net of taxes: Three months ended March 31, 2024 (unaudited) Three months ended March 31, 2023 (unaudited) Unrealized gains (losses) on available- for- sale marketable securities Unrealized gains (losses) on cash flow hedges Total Unrealized gains (losses) on available- for- sale marketable securities Unrealized gains (losses) on cash flow hedges Total Beginning balance $ (3,317 ) $ 988 $ (2,329 ) $ (6,142 ) $ (107 ) $ (6,249 ) Other comprehensive income (loss) before reclassifications 188 (195 ) (7 ) 684 (426 ) 258 Amounts reclassified from accumulated other comprehensive income (loss) (4 ) (380 ) (384 ) (92 ) 173 81 Net current period other comprehensive income (loss) 184 (575 ) (391 ) 592 (253 ) 339 Ending balance $ (3,133 ) $ 413 $ (2,720 ) $ (5,550 ) $ (360 ) $ (5,910 ) 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) Three months ended March 31, 2024 2023 Unrealized losses on cash flow hedges $ 8 $ (4 ) Cost of revenues 324 (147 ) Research and development 9 (4 ) Sales and marketing 39 (16 ) General and administrative 380 (171 ) Total, before income taxes — 2 Income tax expense (benefit) 380 (173 ) Total, net of income taxes Unrealized gains on available-for-sale marketable securities 4 92 Financial income (loss), net — — Income tax expense (benefit) 4 92 Total, net of income taxes $ 384 $ (81 ) Total, net of income taxes |
Note 14 - Share Repurchase Prog
Note 14 - Share Repurchase Program | 3 Months Ended |
Mar. 31, 2024 | |
Notes to Financial Statements | |
Treasury Stock [Text Block] | NOTE 14: SHARE REPURCHASE PROGRAM During the three months ended March 31, 2024, the Company repurchased 56,872 shares of common stock at an average purchase price of $22.48 per share for an aggregate purchase price of $1,278. The Company did not 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, “Treasury Stock” and charges the excess of the repurchase cost over issuance price using the weighted average method to retained earnings. The purchase cost is calculated based on the specific identified method. In the case where the repurchase cost over issuance price using the weighted average method is lower than the issuance price, the Company credits the difference to additional paid-in capital. |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Mar. 31, 2024 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | Item 5 OTHER INFORMATION During the three months ended March 31, 2024, no |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The interim condensed consolidated financial statements have been prepared according to U.S. Generally Accepted Accounting Principles (“U.S. GAAP”). The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2024, are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. For further information, reference is made to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. The significant accounting policies applied in the annual consolidated financial statements of the Company as of December 31, 2023, contained in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 7, 2024, have been applied consistently in these unaudited interim condensed consolidated financial statements. |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Standards Recently Adopted by the Company In June 2022, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") No. 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, which clarifies the guidance when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security and introduces new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. The guidance is effective for annual periods beginning after December 15, 2023, with early adoption permitted. The Company adopted ASU 2022-03 as of January 1, 2024. The adoption did not result in a material impact on the Company's interim condensed financial statements. Accounting Standards Recently Issued, Not Yet Adopted by the Company In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-07. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-09. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of the interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company’s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the financial statements, the reported amounts of revenues and expenses during the reporting period, and amounts classified as a discontinued operation. Actual results could differ from those estimates. |
Note 4 - Held for Sale and Di_2
Note 4 - Held for Sale and Discontinued Operation (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | Three months ended March 31, 2023 (unaudited) Revenues $ 2,473 Cost of revenue 1,807 Gross profit 666 Operating expenses: Research and development, net 2,117 Sales and marketing 326 General and administrative 221 Amortization of intangible assets 175 Total operating expenses 2,839 Operating loss (2,173 ) Financial income, net — Loss from discontinued operations before taxes on income (2,173 ) Income tax expense — Net loss from discontinued operation $ (2,173 ) Three months ended March 31, 2023 (unaudited) Net cash flows used in operating activities (*) $ (1,230 ) |
Note 5 - Revenue Recognition (T
Note 5 - Revenue Recognition (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | Remainder of 2024 2025 2026 and thereafter Licensing and related revenues $ 4,028 $ 1,015 $ 322 |
Disaggregation of Revenue [Table Text Block] | Three months ended March 31, 2024 (unaudited) Three months ended March 31, 2023 (unaudited) Licensing and related revenues Royalties Total Licensing and related revenues Royalties Total Geography United States $ 383 $ 2,155 $ 2,538 $ 702 $ 1,650 $ 2,352 Europe and Middle East 601 911 1,512 1,950 859 2,809 Asia Pacific 10,417 7,592 18,009 15,121 5,505 20,626 Other 13 — 13 475 — 475 Total $ 11,414 $ 10,658 $ 22,072 $ 18,248 $ 8,014 $ 26,262 Use cases for the Company’s technology portfolio Connect (baseband for handset and other devices, Bluetooth, Wi-Fi and NB-IoT) $ 10,067 $ 7,939 $ 18,006 $ 15,924 $ 5,665 $ 21,589 Sense & Infer (sensor fusion, audio, sound, imaging, vision and AI) 1,347 2,719 4,066 2,324 2,349 4,673 Total $ 11,414 $ 10,658 $ 22,072 $ 18,248 $ 8,014 $ 26,262 Timing of revenue recognition Products transferred at a point in time $ 9,453 $ 10,658 $ 20,111 $ 14,621 $ 8,014 $ 22,635 Products and services transferred over time 1,961 — 1,961 3,627 — 3,627 Total $ 11,414 $ 10,658 $ 22,072 $ 18,248 $ 8,014 $ 26,262 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | March 31, 2024 December 31, 2023 Trade receivables $ 14,052 $ 8,433 Unbilled receivables (associated with licensing and related revenue) 9,600 9,735 Unbilled receivables (associated with royalties) 9,983 12,139 Deferred revenues (short-term contract liabilities) 2,479 3,018 |
Note 5 - Leases (Tables)
Note 5 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Lease, Cost [Table Text Block] | March 31, 2024 (Unaudited) Weighted average remaining lease term (years) 3.97 Weighted average discount rates 4.00 % Three months ended 2024 2023 (unaudited) (unaudited) Operating lease cost $ 663 $ 753 Cash payments for operating leases 622 727 |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | The remainder of 2024 $2,082 2025 2,027 2026 880 2027 640 2028 332 2029 and thereafter 621 Total undiscounted cash flows 6,582 Less imputed interest 423 Present value of lease liabilities $ 6,159 |
Note 7 - Marketable Securities
Note 7 - Marketable Securities (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block] | March 31, 2024 (Unaudited) Amortized Gross Gross Fair Available-for-sale - matures within one year: Corporate bonds $ 49,434 $ 45 $ (743 ) $ 48,736 Available-for-sale - matures after one year through three years: Corporate bonds 80,935 127 (2,928 ) 78,134 Total $ 130,369 $ 172 $ (3,671 ) $ 126,870 December 31, 2023 Amortized Gross Gross Fair Available-for-sale - matures within one year: Corporate bonds $ 27,690 $ 4 $ (243 ) $ 27,451 Available-for-sale - matures after one year through three years: Corporate bonds 108,700 278 (3,734 ) 105,244 Total $ 136,390 $ 282 $ (3,977 ) $ 132,695 |
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 March 31, 2024 (unaudited) $ 23,123 $ (147 ) $ 76,036 $ (3,524 ) As of December 31, 2023 $ 18,193 $ (49 ) $ 86,643 $ (3,928 ) |
Schedule of Realized Gain (Loss) [Table Text Block] | Three months ended 2024 2023 (unaudited) (unaudited) Gross realized gains from sale of available-for-sale marketable securities $ 9 $ 92 Gross realized losses from sale of available-for-sale marketable securities $ (5 ) $ — |
Note 8 - Fair Value Measureme_2
Note 8 - Fair Value Measurement (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Description March 31, 2024 (unaudited) Level I (unaudited) Level II (unaudited) Level III (unaudited) Assets: Marketable securities: Corporate bonds $ 126,870 — $ 126,870 — Foreign exchange contracts 413 — 413 — Investments in marketable equity securities 346 346 — — Description December 31, 2023 Level I Level II Level III Assets: Marketable securities: Corporate bonds $ 132,695 — $ 132,695 — Foreign exchange contracts 988 — 988 — Investments in marketable equity securities 406 406 — — |
Note 9 - Geographic Informati_2
Note 9 - Geographic Information and Major Customer Data (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Revenue from External Customers by Geographic Areas [Table Text Block] | Three months ended 2024 (unaudited) 2023 (unaudited) Revenues based on customer location: United States $ 2,538 $ 2,352 Europe and Middle East 1,512 2,809 Asia Pacific (1) 18,009 20,626 Other 13 475 $ 22,072 $ 26,262 (1) China $ 13,592 $ 17,763 |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Three months ended 2024 (unaudited) 2023 (unaudited) Customer A 15 % *) Customer B 14 % *) Customer C *) 14 *) *) Less than 10% |
Note 10 - Net Loss Per Share _2
Note 10 - Net Loss Per Share of Common Stock (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended 2024 (unaudited) 2023 (unaudited) Numerator: Net loss from continuing operation $ (5,448 ) $ (2,699 ) Net loss from discontinued operation — (2,173 ) Net loss $ (5,448 ) $ (4,872 ) Denominator (in thousands): Basic and diluted weighted-average common stock outstanding 23,508 23,334 Basic and diluted net loss per share from continuing operation $ (0.23 ) $ (0.12 ) Basic and diluted net loss per share from discontinued operation $ — $ (0.09 ) Basic and diluted net loss per share $ (0.23 ) $ (0.21 ) |
Note 11 - Common Stock and St_2
Note 11 - Common Stock and Stock-based Compensation Plans (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Number of Weighted exercise Weighted remaining term Aggregate value Outstanding as of December 31, 2023 99,425 $ 20.74 2.5 $ 316 Granted — — Exercised (13,000 ) 14.77 Forfeited or expired — — Outstanding as of March 31, 2024 (unaudited) 86,425 $ 21.64 2.6 $ 213 Exercisable as of March 31, 2024 (unaudited) 67,000 $ 21.64 1.5 $ 192 |
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Number of PSUs Weighted Average Grant- Date Unvested as of December 31, 2023 1,281,751 $ 24.97 Granted 414,572 17.21 Vested (112,076 ) 36.71 Forfeited or expired (110,218 ) 19.07 Unvested as of March 31, 2024 (unaudited) 1,474,029 $ 22.34 |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three months ended 2024 (unaudited) 2023 (unaudited) Cost of revenue $ 203 $ 206 Research and development, net 2,007 2,102 Sales and marketing 365 378 General and administrative 996 866 Total equity-based compensation expense from continuing operations 3,571 3,552 Equity-based compensation expense included in discontinued operations — 307 Total equity-based compensation expense $ 3,571 $ 3,859 |
Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | Three months ended 2024 (unaudited) 2023 (unaudited) Expected dividend yield 0 % 0 % Expected volatility 46 % 45 % Risk-free interest rate 5.3 % 4.8 % Contractual term of up to (months) 6 6 |
Note 12 - Derivatives and Hed_2
Note 12 - Derivatives and Hedging Activities (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] | March 31, 2024 December 31, 2023 Derivative assets: Derivatives designated as cash flow hedging instruments: Foreign exchange forward contracts $ 413 $ 988 Total $ 413 $ 988 Three months ended 2024 (unaudited) 2023 (unaudited) Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ — $ (105 ) Foreign exchange forward contracts (195 ) (320 ) $ (195 ) $ (425 ) |
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three months ended 2024 (unaudited) 2023 (unaudited) Derivatives designated as cash flow hedging instruments: Foreign exchange option contracts $ — $ — Foreign exchange forward contracts (380 ) 171 $ (380 ) $ 171 |
Note 13 - Accumulated Other C_2
Note 13 - Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three months ended March 31, 2024 (unaudited) Three months ended March 31, 2023 (unaudited) Unrealized gains (losses) on available- for- sale marketable securities Unrealized gains (losses) on cash flow hedges Total Unrealized gains (losses) on available- for- sale marketable securities Unrealized gains (losses) on cash flow hedges Total Beginning balance $ (3,317 ) $ 988 $ (2,329 ) $ (6,142 ) $ (107 ) $ (6,249 ) Other comprehensive income (loss) before reclassifications 188 (195 ) (7 ) 684 (426 ) 258 Amounts reclassified from accumulated other comprehensive income (loss) (4 ) (380 ) (384 ) (92 ) 173 81 Net current period other comprehensive income (loss) 184 (575 ) (391 ) 592 (253 ) 339 Ending balance $ (3,133 ) $ 413 $ (2,720 ) $ (5,550 ) $ (360 ) $ (5,910 ) |
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) Three months ended March 31, 2024 2023 Unrealized losses on cash flow hedges $ 8 $ (4 ) Cost of revenues 324 (147 ) Research and development 9 (4 ) Sales and marketing 39 (16 ) General and administrative 380 (171 ) Total, before income taxes — 2 Income tax expense (benefit) 380 (173 ) Total, net of income taxes Unrealized gains on available-for-sale marketable securities 4 92 Financial income (loss), net — — Income tax expense (benefit) 4 92 Total, net of income taxes $ 384 $ (81 ) Total, net of income taxes |
Note 3 - Acquisition (Details T
Note 3 - Acquisition (Details Textual) - VisiSonics [Member] $ in Thousands | 1 Months Ended |
Jan. 31, 2024 USD ($) | |
Asset Acquisition, Consideration Transferred | $ 750 |
Asset Acquisition, Contingent Consideration, Liability | $ 2,100 |
Note 4 - Held for Sale and Di_3
Note 4 - Held for Sale and Discontinued Operation (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 14, 2023 | Mar. 31, 2023 | |
Amortization of intangible assets | $ 175 | |
Discontinued Operations [Member] | ||
Amortization of intangible assets | $ 492 | |
Intrinsix Corp. [Member] | ||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred | $ 240 | |
Intrinsix Corp. [Member] | ||
Sale of Stock, Consideration | 35,000 | |
Sale of Stock, Amount Held for Post Closing Price Adjustment | 300 | |
Sale of Stock, Amount Held for Indemnification Obligations | $ 3,500 |
Note 4 - Held for Sale and Di_4
Note 4 - Held for Sale and Discontinued Operation - Schedule of Disposal Groups Including Discontinued Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Revenues | $ 2,473 | ||
Net cash flows used in operating activities (*) | [1] | (1,230) | |
Cost of revenue | 1,807 | ||
Gross profit | 666 | ||
Research and development, net | 2,117 | ||
Sales and marketing | 326 | ||
General and administrative | 221 | ||
Amortization of intangible assets | 175 | ||
Total operating expenses | 2,839 | ||
Operating loss | (2,173) | ||
Financial income, net | 0 | ||
Loss from discontinued operations before taxes on income | (2,173) | ||
Income tax expense | 0 | ||
Net loss from discontinued operation | $ 0 | $ (2,173) | |
[1]Amortization and depreciation allocated to discontinued operation for the three-month period ended March 31, 2023 amounted to $492. |
Note 5 - Revenue Recognition (D
Note 5 - Revenue Recognition (Details Textual) $ in Thousands | 3 Months Ended |
Jun. 30, 2023 USD ($) | |
Contract with Customer, Liability, Revenue Recognized | $ 1,179 |
Note 5 - Revenue Recognition -
Note 5 - Revenue Recognition - Remaining Performance Obligation 2 (Details) $ in Thousands | Mar. 31, 2024 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01 | |
Licensing, NRE and related revenues | $ 4,028 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 9 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Licensing, NRE and related revenues | $ 1,015 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | |
Licensing, NRE and related revenues | $ 322 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Note 5 - Revenue Recognition _2
Note 5 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Revenue | $ 22,072 | $ 26,262 | |
Transferred at Point in Time [Member] | |||
Revenue | 20,111 | 22,635 | |
Transferred over Time [Member] | |||
Revenue | 1,961 | 3,627 | |
Connectivity Products [Member] | |||
Revenue | 18,006 | 21,589 | |
Smart Sensing Products [Member] | |||
Revenue | 4,066 | 4,673 | |
UNITED STATES | |||
Revenue | 2,538 | 2,352 | |
Europe and Middle East [Member] | |||
Revenue | 1,512 | 2,809 | |
Asia Pacific [Member] | |||
Revenue | [1] | 18,009 | 20,626 |
Other [Member] | |||
Revenue | 13 | 475 | |
License [Member] | |||
Revenue | 11,414 | 18,248 | |
License [Member] | Transferred at Point in Time [Member] | |||
Revenue | 9,453 | 14,621 | |
License [Member] | Transferred over Time [Member] | |||
Revenue | 1,961 | 3,627 | |
License [Member] | Connectivity Products [Member] | |||
Revenue | 10,067 | 15,924 | |
License [Member] | Smart Sensing Products [Member] | |||
Revenue | 1,347 | 2,324 | |
License [Member] | UNITED STATES | |||
Revenue | 383 | 702 | |
License [Member] | Europe and Middle East [Member] | |||
Revenue | 601 | 1,950 | |
License [Member] | Asia Pacific [Member] | |||
Revenue | 10,417 | 15,121 | |
License [Member] | Other [Member] | |||
Revenue | 13 | 475 | |
Royalty [Member] | |||
Revenue | 10,658 | 8,014 | |
Royalty [Member] | Transferred at Point in Time [Member] | |||
Revenue | 10,658 | 8,014 | |
Royalty [Member] | Connectivity Products [Member] | |||
Revenue | 7,939 | 5,665 | |
Royalty [Member] | Smart Sensing Products [Member] | |||
Revenue | 2,719 | 2,349 | |
Royalty [Member] | UNITED STATES | |||
Revenue | 2,155 | 1,650 | |
Royalty [Member] | Europe and Middle East [Member] | |||
Revenue | 911 | 859 | |
Royalty [Member] | Asia Pacific [Member] | |||
Revenue | $ 7,592 | $ 5,505 | |
[1]China |
Note 5 - Revenue Recognition _3
Note 5 - Revenue Recognition - Assets and Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Deferred revenues (short-term contract liabilities) | $ 2,479 | $ 3,018 |
Trade Receivables [Member] | ||
Trade receivables | 14,052 | 8,433 |
Accrued Revenues [Member] | Licensing and Other [Member] | ||
Trade receivables | 9,600 | 9,735 |
Accrued Revenues [Member] | Royalty [Member] | ||
Trade receivables | 9,983 | 12,139 |
Deferred Revenue [Member] | ||
Deferred revenues (short-term contract liabilities) | $ 2,479 | $ 3,018 |
Note 5 - Leases -Lease Cost (De
Note 5 - Leases -Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Weighted average remaining lease term (years) (Year) | 3 years 11 months 19 days | |
Operating lease cost | $ 663 | $ 753 |
Weighted average discount rates | 4% | |
Cash payments for operating leases | $ 622 | $ 727 |
Note 5 - Leases - Maturities of
Note 5 - Leases - Maturities of Lease Liabilities (Details) $ in Thousands | Mar. 31, 2024 USD ($) |
The remainder of 2023 | $ 2,082 |
2024 | 2,027 |
2025 | 880 |
2026 | 640 |
2027 | 332 |
2028 and thereafter | 621 |
Total undiscounted cash flows | 6,582 |
Less imputed interest | 423 |
Present value of lease liabilities | $ 6,159 |
Note 7 - Marketable Securitie_2
Note 7 - Marketable Securities - Available-for-sale Marketable Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Marketable securities | $ 126,870 | $ 132,695 |
Corporate Bonds [Member] | ||
Available For Sale Securities Debt Maturities Within One Year Amortized Cost | 49,434 | 27,690 |
Available-for-sale - matures within one year, Gross unrealized gains | 45 | 4 |
Available-for-sale - matures within one year, Gross unrealized losses | (743) | (243) |
Available-for-sale- matures within one year, Fair Value | 48,736 | 27,451 |
Available-for-sale - matures after one year through five years, amortized cost | 80,935 | 108,700 |
Available-for-sale - matures after one year through five years, Gross unrealized gains | 127 | 278 |
Available for Sale Matures after One Year Through Five Years, Gross Unrealized Loss | (2,928) | (3,734) |
Debt Securities, Available-for-Sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 78,134 | 105,244 |
Debt Securities, Available-for-Sale, Amortized Cost | 130,369 | 136,390 |
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax | 172 | 282 |
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax | (3,671) | (3,977) |
Marketable securities | $ 126,870 | $ 132,695 |
Note 7 - Marketable Securitie_3
Note 7 - Marketable Securities - Summary of Gross Unrealized Losses and Fair Values on Investments (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Less than 12 months, Fair value | $ 23,123 | $ 18,193 |
Less than 12 months, Gross unrealized loss | (147) | (49) |
12 months or greater, Fair value | 76,036 | 86,643 |
12 months or greater, Gross unrealized loss | $ (3,524) | $ (3,928) |
Note 7 - Marketable Securitie_4
Note 7 - Marketable Securities - Summary of Gross Realized Gains and Losses from Sale of Available-for-sale Marketable Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Gross realized gains from sale of available-for-sale marketable securities | $ 9 | $ 92 |
Gross realized losses from sale of available-for-sale marketable securities | $ (5) | $ 0 |
Note 8 - Fair Value Measureme_3
Note 8 - Fair Value Measurement - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Corporate bonds | $ 126,870 | $ 132,695 |
Foreign exchange contracts | 413 | 988 |
Investments in marketable equity securities | 346 | 406 |
Fair Value, Inputs, Level 1 [Member] | ||
Foreign exchange contracts | 0 | 0 |
Investments in marketable equity securities | 346 | 406 |
Fair Value, Inputs, Level 2 [Member] | ||
Foreign exchange contracts | 413 | 988 |
Investments in marketable equity securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Foreign exchange contracts | 0 | 0 |
Investments in marketable equity securities | 0 | 0 |
Corporate Bonds [Member] | ||
Corporate bonds | 126,870 | 132,695 |
Corporate Bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Corporate bonds | 0 | 0 |
Corporate Bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Corporate bonds | 126,870 | 132,695 |
Corporate Bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Corporate bonds | $ 0 | $ 0 |
Note 9 - Geographic Informati_3
Note 9 - Geographic Information and Major Customer Data (Details Textual) | 3 Months Ended |
Mar. 31, 2024 | |
Number of Reportable Segments | 1 |
Note 9 - Geographic Informati_4
Note 9 - Geographic Information and Major Customer Data - Revenues Based On Customer Location (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | ||
Revenue | $ 22,072 | $ 26,262 | |
UNITED STATES | |||
Revenue | 2,538 | 2,352 | |
Europe and Middle East [Member] | |||
Revenue | 1,512 | 2,809 | |
Asia Pacific [Member] | |||
Revenue | [1] | 18,009 | 20,626 |
Other [Member] | |||
Revenue | 13 | 475 | |
CHINA | |||
Revenue | $ 13,592 | $ 17,763 | |
[1]China |
Note 9 - Geographic Informati_5
Note 9 - Geographic Information and Major Customer Data - Major Customers Data As Percentage of Total Revenues (Details) - Revenue from Contract with Customer Benchmark [Member] - Customer Concentration Risk [Member] | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Customer A [Member] | ||
Percentage of total revenues | 15% | |
Customer C [Member] | ||
Percentage of total revenues | 14% |
Note 10 - Net Loss Per Share _3
Note 10 - Net Loss Per Share of Common Stock (Details Textual) - shares | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,560,454 | 1,181,119 |
Note 10 - Net Income (Loss) Per
Note 10 - Net Income (Loss) Per Share of Common Stock - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Net loss | $ (5,448) | $ (2,699) |
Net loss from discontinued operation | 0 | (2,173) |
Net loss: | $ (5,448) | $ (4,872) |
Basic and diluted (in shares) | 23,508 | 23,334 |
Basic and diluted (in dollars per share) | $ (0.23) | $ (0.12) |
Basic and diluted net loss per share from discontinued operation (in dollars per share) | 0 | (0.09) |
Basic and diluted net loss per share (in dollars per share) | $ (0.23) | $ (0.21) |
Note 11 - Common Stock and St_3
Note 11 - Common Stock and Stock-based Compensation Plans (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2024 | Feb. 12, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Outstanding Number | 86,425 | 86,425 | 99,425 | |
Chief Financial Officer [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Addtional Shares Issuable, Performance Goals Exceeded | 5,344 | |||
Chief Operating Officer [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Addtional Shares Issuable, Performance Goals Exceeded | 4,372 | |||
Chief Commercial Officer [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Addtional Shares Issuable, Performance Goals Exceeded | 3,609 | |||
Share-Based Payment Arrangement, Option [Member] | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 184 | $ 184 | ||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 2 months 12 days | |||
Restricted Stock Units (RSUs) [Member] | Vesting on February 17, 2024 [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 33.40% | |||
Restricted Stock Units (RSUs) [Member] | Vesting on February 17, 2025 [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 33.30% | |||
Restricted Stock Units (RSUs) [Member] | Vesting on February 17, 2026 [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 33.30% | |||
Restricted Stock Units (RSUs) [Member] | Employees [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period | 3 years | |||
Restricted Stock Units (RSUs) [Member] | Non-employee Director [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period | 2 years | |||
Restricted Stock Units (RSUs) [Member] | Non-employee Director [Member] | Share-Based Payment Arrangement, Tranche One [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period | 1 year | |||
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 | 25% | |||
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] | 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 | 25% | |||
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] | Goals Three [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 25% | |||
Short-Term Executive PSUs [Member] | Goals Three [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 Three [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 | 25% | |||
Short-Term Executive PSUs [Member] | Goals Three [Member] | Vesting Based on Actual Return Being at Least 90 Percent of Russel 2000 Index [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Threshold, Percentage | 90% | |||
Short-Term Executive PSUs [Member] | Goals Three [Member] | Vesting Based on Actual Return In Excess of 100 Percent of Russel 2000 Index [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Threshold, Percentage | 100% | |||
Short-Term Executive PSUs [Member] | Vesting on February 16, 2025 [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 33.40% | |||
Short-Term Executive PSUs [Member] | Vesting on February 16, 2026 [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 33.30% | |||
Short-Term Executive PSUs [Member] | Vesting on February 16, 2027 [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 33.30% | |||
Short-Term Executive PSUs [Member] | Chief Executive Officer [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Addtional Shares Issuable, Performance Goals Exceeded, Percentage | 60% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Addtional Shares Issuable, Performance Goals Exceeded | 29,986 | |||
Short-Term Executive PSUs [Member] | Chief Executive Officer [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 | 3% | |||
Short-Term Executive PSUs [Member] | Chief Executive Officer [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 | 3% | |||
Short-Term Executive PSUs [Member] | Chief Executive Officer [Member] | Goals Three [Member] | Increase in Eligible PSUs, Percent [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Conditional Increase in Shares, Percentage | 3% | |||
Short-Term Executive PSUs [Member] | CFO, COO, and CCO [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Addtional Shares Issuable, Performance Goals Exceeded, Percentage | 40% | |||
RSUs and PSUs [Member] | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 22,830 | $ 22,830 | ||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 1 year 7 months 6 days | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period | 414,572 | |||
Maximum [Member] | Short-Term Executive PSUs [Member] | Goals One [Member] | Vesting Based on Achievement In Excess of 90 Percent [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% | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Actual Performance Results, in Excess of Performance Threshold, Percentage | 120% | |||
Maximum [Member] | 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, Percentage | 99% | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Threshold, Percentage | 99% | |||
Maximum [Member] | 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, Actual Performance Results, in Excess of Performance Threshold, Percentage | 120% | |||
Maximum [Member] | Short-Term Executive PSUs [Member] | Goals Three [Member] | Vesting Based on Actual Return Being at Least 90 Percent of Russel 2000 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% | |||
Maximum [Member] | Short-Term Executive PSUs [Member] | Goals Three [Member] | Vesting Based on Actual Return In Excess of 100 Percent of Russel 2000 Index [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Actual Performance Results, in Excess of Performance Threshold, Percentage | 120% | |||
Minimum [Member] | Short-Term Executive PSUs [Member] | Goals One [Member] | Vesting Based on Achievement In Excess of 90 Percent [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 91% | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Actual Performance Results, in Excess of Performance Threshold, Percentage | 1% | |||
Minimum [Member] | 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, Percentage | 91% | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Threshold, Percentage | 90% | |||
Minimum [Member] | 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, Actual Performance Results, in Excess of Performance Threshold, Percentage | 1% | |||
Minimum [Member] | Short-Term Executive PSUs [Member] | Goals Three [Member] | Vesting Based on Actual Return Being at Least 90 Percent of Russel 2000 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% | |||
Minimum [Member] | Short-Term Executive PSUs [Member] | Goals Three [Member] | Vesting Based on Actual Return In Excess of 100 Percent of Russel 2000 Index [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Actual Performance Results, in Excess of Performance Threshold, Percentage | 1% | |||
The2011 Stock Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights Vesting Percentage, Year One | 25% | 25% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Remaining Vesting Period | 36 months | |||
The2011 Stock Incentive Plan [Member] | Restricted Stock Units (RSUs) [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% | |||
The2011 Stock Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | Chief Executive Officer [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period | 33,318 | |||
The2011 Stock Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | Chief Financial Officer [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period | 20,043 | |||
The2011 Stock Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | Chief Operating Officer [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period | 16,399 | |||
The2011 Stock Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | Chief Commercial Officer [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period | 13,535 | |||
The2011 Stock Incentive Plan [Member] | Performance Share Units [Member] | Chief Executive Officer [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period | 49,978 | |||
The2011 Stock Incentive Plan [Member] | Performance Share Units [Member] | Chief Financial Officer [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period | 13,362 | |||
The2011 Stock Incentive Plan [Member] | Performance Share Units [Member] | Chief Operating Officer [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period | 10,932 | |||
The2011 Stock Incentive Plan [Member] | Performance Share Units [Member] | Chief Commercial Officer [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period | 9,023 | |||
The2011 Stock Incentive Plan [Member] | Maximum [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period | 4 years | |||
Share-Based Payment Arrangement, Employee [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Outstanding Number | 0 | 0 | 0 |
Note 11 - Common Stock and St_4
Note 11 - Common Stock and Stock-based Compensation Plans - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Outstanding, Number of shares (in shares) | 99,425 | |
Outstanding, Weighted average exercise price (in dollars per share) | $ 20.74 | |
Outstanding, Weighted average remaining contractual term (Year) | 2 years 7 months 6 days | 2 years 6 months |
Outstanding, Aggregated intrinsic value | $ 213 | $ 316 |
Exercised, Number of shares (in shares) | (13,000) | |
Exercised, Weighted average exercise price (in dollars per share) | $ 14.77 | |
Outstanding, Number of shares (in shares) | 86,425 | 99,425 |
Outstanding, Weighted average exercise price (in dollars per share) | $ 21.64 | $ 20.74 |
Exercisable, Number of shares (in shares) | 67,000 | |
Exercisable, Weighted average exercise price (in dollars per share) | $ 21.64 | |
Exercisable, Weighted average remaining contractual term (Year) | 1 year 6 months | |
Exercisable, Aggregated intrinsic value | $ 192 |
Note 11 - Common Stock and St_5
Note 11 - Common Stock and Stock-based Compensation Plans - Summary of Restricted Stock Units Activity (Details) - RSUs and PSUs [Member] | 3 Months Ended |
Mar. 31, 2024 $ / shares shares | |
Unvested, number (in shares) | shares | 1,281,751 |
Unvested, weighted average fair value (in dollars per share) | $ / shares | $ 24.97 |
Granted, number (in shares) | shares | 414,572 |
Granted, weighted average fair value (in dollars per share) | $ / shares | $ 17.21 |
Vested, number (in shares) | shares | (112,076) |
Vested, weighted average fair value (in dollars per share) | $ / shares | $ 36.71 |
Forfeited or expired, number (in shares) | shares | (110,218) |
Forfeited or expired, weighted average fair value (in dollars per share) | $ / shares | $ 19.07 |
Unvested, number (in shares) | shares | 1,474,029 |
Unvested, weighted average fair value (in dollars per share) | $ / shares | $ 22.34 |
Note 11 - Common Stock and St_6
Note 11 - Common Stock and Stock-based Compensation Plans - Equity-based Compensation Expense Included in Interim Condensed Consolidated Statements of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Total equity-based compensation expense | $ 3,571 | $ 3,859 |
Cost of Revenues [Member] | ||
Total equity-based compensation expense | 203 | 206 |
Research and Development, Net [Member] | ||
Total equity-based compensation expense | 2,007 | 2,102 |
Sales and Marketing [Member] | ||
Total equity-based compensation expense | 365 | 378 |
General and Administrative [Member] | ||
Total equity-based compensation expense | 996 | 866 |
Total Equity-based Compensation Expense From Continuing Operations [Member] | ||
Total equity-based compensation expense | 3,571 | 3,552 |
Equity-based Compensation Expense Included in Discontinued Operations [Member] | ||
Total equity-based compensation expense | $ 0 | $ 307 |
Note 11 - Common Stock and St_7
Note 11 - Common Stock and Stock-based Compensation Plans - Valuation Assumptions (Details) - The 2002 Employee Stock Purchase Plan [Member] - Purchase Rights [Member] | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Expected dividend yield | 0% | |
Expected volatility | 46% | |
Expected volatility | 45% | |
Risk-free interest rate | 5.30% | |
Risk-free interest rate | 4.80% | |
Contractual term of (months) (Month) | 6 months | 6 months |
Note 12 - Derivatives and Hed_3
Note 12 - Derivatives and Hedging Activities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Derivative, Notional Amount | $ 8,700 | $ 16,500 | |
Derivative, Gain (Loss) on Derivative, Net | $ 380 | $ 171 |
Note 12 - Derivatives and Hed_4
Note 12 - Derivatives and Hedging Activities - Effective Portion of the Gains and Losses on Derivative Instruments Designated (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Changes in unrealized gains (losses) | $ (195) | $ (425) | |
Foreign exchange forward contracts | 413 | $ 988 | |
Cash Flow Hedging [Member] | |||
Changes in unrealized gains (losses) | (195) | (425) | |
Derivative Asset, Total | 413 | 988 | |
Cash Flow Hedging [Member] | Foreign Exchange Option [Member] | |||
Changes in unrealized gains (losses) | 0 | (105) | |
Cash Flow Hedging [Member] | Foreign Exchange Forward [Member] | |||
Changes in unrealized gains (losses) | (195) | $ (320) | |
Foreign exchange forward contracts | $ 413 | $ 988 |
Note 12 - Derivatives and Hed_5
Note 12 - Derivatives and Hedging Activities - Net (Gains) Losses Reclassified from Accumulated Other Comprehensive Loss (Details) - Derivatives Designated as Cash Flow Hedging Instruments [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total | $ (380) | $ 171 |
Foreign Exchange Option Contracts [Member] | ||
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total | 0 | 0 |
Foreign Exchange Forward Contracts [Member] | ||
Gain (loss) reclassified from accumulated OCI into income, Effective portion, Net, Total | $ (380) | $ 171 |
Note 13 - Accumulated Other C_3
Note 13 - Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Balances of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Balance | $ 264,341 | $ 258,871 |
Balance | 262,349 | 259,870 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | ||
Balance | (3,317) | (6,142) |
Other comprehensive income (loss) before reclassifications | 188 | 684 |
Amounts reclassified from accumulated other comprehensive loss | (4) | (92) |
Net current period other comprehensive income (loss) | 184 | 592 |
Balance | (3,133) | (5,550) |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||
Balance | 988 | (107) |
Other comprehensive income (loss) before reclassifications | (195) | (426) |
Amounts reclassified from accumulated other comprehensive loss | (380) | 173 |
Net current period other comprehensive income (loss) | (575) | (253) |
Balance | 413 | (360) |
AOCI Attributable to Parent [Member] | ||
Balance | (2,329) | (6,249) |
Other comprehensive income (loss) before reclassifications | (7) | 258 |
Amounts reclassified from accumulated other comprehensive loss | (384) | 81 |
Net current period other comprehensive income (loss) | (391) | 339 |
Balance | $ (2,720) | $ (5,910) |
Note 13 - Accumulated Other C_4
Note 13 - Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cost of Revenues | $ (2,503) | $ (3,508) |
Research and development | (17,991) | (18,674) |
Sales and marketing | (2,816) | (2,719) |
General and administrative | (3,572) | (3,827) |
Total, before income taxes | (3,763) | (1,282) |
Income tax expense (benefit) | 1,685 | 1,417 |
Net loss | (5,448) | (4,872) |
Financial income, net | 1,257 | 1,455 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Net loss | 384 | (81) |
Unrealized Gains (Losses) on Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Cost of Revenues | 8 | (4) |
Research and development | 324 | (147) |
Sales and marketing | 9 | (4) |
General and administrative | 39 | (16) |
Total, before income taxes | 380 | (171) |
Income tax expense (benefit) | 0 | 2 |
Net loss | 380 | (173) |
Unrealized Gains (Losses) on Available-for-sale Marketable Securities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Income tax expense (benefit) | 0 | 0 |
Net loss | 4 | 92 |
Financial income, net | $ 4 | $ 92 |
Note 14 - Share Repurchase Pr_2
Note 14 - Share Repurchase Program (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Treasury Stock, Shares, Acquired | 56,872 | 0 |
Shares Acquired, Average Cost Per Share (in dollars per share) | $ 22.48 | |
Treasury Stock Value Acquired Weighted Average Method | $ 1,278 | |
Share Repurchase Program, Remaining Authorized, Number of Shares | 643,128 |