Varonis Systems (VRNS) 10-Q 6 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 04, 2015
Entity Registrant Name	VARONIS SYSTEMS INC
Entity Central Index Key	1,361,113
Trading Symbol	vrns
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		25,758,080
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 69,927	$ 76,593
Short-term deposits	35,102	35,102
Trade receivables (net of allowance for doubtful accounts of $525 and $149 at September 30, 2015 and December 31, 2014, respectively)	28,186	37,869
Prepaid expenses and other current assets	3,123	2,962
Total current assets	136,338	152,526
Long-term assets:
Other assets	475	332
Property and equipment, net	7,832	3,989
Total long-term assets	8,307	4,321
Total assets	144,645	156,847
Current liabilities:
Trade payables	2,215	2,703
Accrued expenses and other liabilities	19,055	16,754
Deferred revenues	34,950	33,753
Total current liabilities	56,220	53,210
Long-term liabilities:
Deferred revenues	2,931	3,464
Severance pay	1,478	1,449
Other liabilities	5,163	3,698
Total long-term liabilities	9,572	8,611
Stockholders’ equity:
Common stock of $ 0.001 par value - Authorized: 200,000,000 shares at September 30, 2015 and December 31, 2014; Issued and outstanding: 25,747,570 shares at September 30, 2015 and 24,685,604 shares at December 31, 2014	26	25
Accumulated other comprehensive income (loss)	67	(326)
Additional paid-in capital	169,828	162,478
Accumulated deficit	(91,068)	(67,151)
Total stockholders’ equity	78,853	95,026
Total liabilities and stockholders’ equity	$ 144,645	$ 156,847

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Allowance for doubtful accounts	$ 525	$ 149
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	200,000,000	200,000,000
Common stock, issued (in shares)	25,747,570	24,685,604
Common stock, outstanding (in shares)	25,747,570	24,685,604

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Licenses	$ 16,862	$ 14,239	$ 43,031	$ 36,714
Maintenance and services	14,375	11,324	40,342	30,920
Total revenues	31,237	25,563	83,373	67,634
Cost of revenues	3,044	2,590	8,740	7,123
Gross profit	28,193	22,973	74,633	60,511
Operating costs and expenses:
Research and development	8,085	7,316	23,617	20,587
Sales and marketing	20,617	17,741	62,072	49,168
General and administrative	4,036	3,030	11,576	8,360
Total operating expenses	32,738	28,087	97,265	78,115
Operating loss	(4,545)	(5,114)	(22,632)	(17,604)
Financial expenses, net	(104)	(944)	(743)	(908)
Loss before income taxes	(4,649)	(6,058)	(23,375)	(18,512)
Income taxes	(276)	(296)	(542)	(555)
Net loss	$ (4,925)	$ (6,354)	$ (23,917)	$ (19,067)
Net loss per share of common stock, basic and diluted (in dollars per share)	$ (0.19)	$ (0.26)	$ (0.96)	$ (0.95)
Weighted average number of shares used in computing net loss per share of common stock, basic and diluted (in shares)	25,367,347	24,516,417	24,997,856	20,100,388

Unaudited Consolidated Stateme5

Unaudited Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net loss	$ (4,925)	$ (6,354)	$ (23,917)	$ (19,067)
Other comprehensive income (loss):
Unrealized gains (losses) on derivative instruments	(543)	(589)	393	(542)
Total other comprehensive income (loss)	(543)	(589)	393	(542)
Comprehensive loss	$ (5,468)	$ (6,943)	$ (23,524)	$ (19,609)

Consolidated Statements of Chan

Consolidated Statements of Changes in Convertible Preferred Stock and Stockholders' Equity (Deficiency) (Unaudited) - USD ($) $ in Thousands		Convertible Preferred Stock [Member]	Common Stock [Member]		Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance as of January 1, 2014 (in shares) at Dec. 31, 2013		15,082,141	3,953,314
Balance as of January 1, 2014 at Dec. 31, 2013		$ 43,775	$ 4		$ 4,741		$ (47,753)	$ (43,008)
Issuance of common stock upon initial public offering (net of issuance costs of $2,376) (in shares)			5,300,436
Issuance of common stock upon initial public offering (net of issuance costs of $2,376)			$ 5		106,066			106,071
Conversion of preferred stock to common stock upon initial public offering (in shares)		(15,082,141)	15,082,141
Conversion of preferred stock to common stock upon initial public offering		$ (43,775)	$ 15		43,760			43,775
Conversion of warrants to purchase preferred stock into warrants to purchase common stock					2,866			2,866
Exercise of warrants to purchase common stock (in shares)			107,217
Exercise of warrants to purchase common stock	[1]
Stock-based compensation expense					4,664			4,664
Exercise of stock options (in shares)			238,951
Exercise of stock options				[1]	381			382
Exercise of restricted stock units (in shares)			3,545
Exercise of restricted stock units	[1]
Unrealized gains (losses) on derivative instruments						$ (326)		(326)
Net loss							(19,398)	(19,398)
Balance as of December 31, 2014 (in shares) at Dec. 31, 2014			24,685,604
Balance as of December 31, 2014 at Dec. 31, 2014			$ 25		162,478	(326)	(67,151)	95,026
Stock-based compensation expense					5,704			$ 5,704
Exercise of stock options (in shares)			1,041,443					1,025,777
Exercise of stock options			$ 1		1,646			$ 1,647
Exercise of restricted stock units (in shares)			20,523
Exercise of restricted stock units	[1]
Unrealized gains (losses) on derivative instruments						393		393
Net loss							(23,917)	(23,917)
Balance as of December 31, 2014 (in shares) at Sep. 30, 2015			25,747,570
Balance as of December 31, 2014 at Sep. 30, 2015			$ 26		$ 169,828	$ 67	$ (91,068)	$ 78,853
[1]	Represents an amount lower than $1.

Consolidated Statements of Cha7

Consolidated Statements of Changes in Convertible Preferred Stock and Stockholders' Equity (Deficiency) (Unaudited) (Parentheticals) $ in Thousands	12 Months Ended
	Dec. 31, 2014USD ($)
Additional Paid-in Capital [Member]
Issuance costs	$ 2,376

Unaudited Consolidated Stateme8

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net loss	$ (23,917)	$ (19,067)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	1,051	858
Stock-based compensation	$ 5,704	2,838
Amortization of deferred charges related to loan		$ 93
Capital gain from disposal of fixed asset	$ (2)
Changes in assets and liabilities:
Trade receivables	9,683	$ 7,122
Prepaid expenses and other current assets	$ 688	(232)
Other long term assets		(615)
Trade payables	$ (488)	591
Accrued expenses and other liabilities	2,301	2,696
Increase in severance pay, net	29	344
Deferred revenues	664	297
Other long term liabilities	(346)	431
Net cash used in operating activities	$ (4,633)	(4,644)
Cash flows from investing activities:
Decrease in short-term deposit		4,242
Decrease in long-term deposits	$ 11	48
Decrease (increase) in restricted cash	(154)	218
Purchase of property and equipment	(3,537)	(1,739)
Net cash provided by (used in) investing activities	(3,680)	2,769
Cash flows from financing activities:
Exercise of employee stock options	$ 1,647	213
Payment of deferred equity offering cost		(1,181)
Net proceeds from initial public offering		108,447
Net cash provided by financing activities	$ 1,647	107,479
Increase (decrease) in cash and cash equivalents	(6,666)	105,604
Cash and cash equivalents at beginning of period	76,593	9,633
Cash and cash equivalents at end of period	$ 69,927	115,237
Supplemental disclosures of non-cash flow information:
Conversion of preferred stock to common stock		43,775
Conversion of liability warrants to equity		$ 2,866
Deferred rent fixed asset additions	$ 1,355
	1,355	$ 46,641
Supplemental disclosure of cash flow information:
Cash paid for income taxes	$ 216	$ 103

Note 1 - General

Note 1 - General	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1:- GENERAL a. Varonis Systems, Inc. (“VSI” and together with its subsidiaries, collectively, the “Company”) was incorporated under the laws of the State of Delaware on November 3, 2004 and commenced operations on January 1, 2005. VSI has five wholly-owned subsidiaries: Varonis Systems Ltd. (“VSL”) incorporated under the laws of Israel on November 24, 2004; Varonis UK (“VSUK”) incorporated under the laws of England on March 14, 2007; Varonis Systems (Deutschland) GmbH (“VSG”) incorporated under the laws of Germany on July 6, 2011; Varonis France SAS (“VSF”) incorporated under the laws of France on February 22, 2012; and Varonis Systems Corp. (“VSC”) incorporated under the laws of British Columbia, Canada on February 19, 2013. The Company’s software products and services allow enterprises to map, analyze, manage and migrate their unstructured data. The Company specializes in human-generated data, a type of unstructured data that includes an enterprise’s word processing documents, spreadsheets, presentations, audio files, video files, emails, text messages, and any other data created by employees. Through its products the DatAdvantage platform, DataPrivilege, IDU Classification Framework, DatAnywhere, Data Transport Engine and DatAnswers, the software platform allows enterprises to realize the value of their human-generated data in ways that are not resource-intensive and easy to implement. VSI markets and sells products and services mainly in the United States. VSUK, VSG, VSF and VSC resell the Company’s products and services mainly in the UK, Germany, France and rest of Europe, and Canada, respectively. The Company primarily sells its products and services to a global network of distributors and Value Added Resellers (VARs), which sell the products to end users customers. b. Initial Public Offering: On March 5, 2014, the Company closed its initial public offering (“IPO”) whereby 5,300,436 shares of common stock were sold by the Company to the public (inclusive of 500,436 shares of common stock pursuant to the full exercise of an overallotment option granted to the underwriters). The aggregate net proceeds received by the Company from the offering were approximately $106,071, net of underwriting discounts and commissions and offering expenses payable by the Company. Upon the closing of the IPO, all shares of the Company’s outstanding convertible preferred stock automatically converted into 15,082,141 shares of common stock, and outstanding warrants to purchase convertible preferred stock automatically converted into warrants to purchase 122,572 shares of common stock. On March 13, 2014, all such warrants were exercised, in a net share settlement, resulting in the issuance of 107,217 shares of common stock. c. Basis of Presentation: The accompanying unaudited consolidated interim financial statements have been prepared in accordance with Article 10 of Regulation S-X, “Interim Financial Statements” and the rules and regulations for Form 10-Q of the Securities and Exchange Commission (the “SEC”). Pursuant to those rules and regulations, the Company has condensed or omitted certain information and footnote disclosure it normally includes in its annual consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). In management’s opinion, the Company has made all adjustments (consisting only of normal, recurring adjustments, except as otherwise indicated) necessary to fairly present its consolidated financial position, results of operations and cash flows. The Company’s interim period operating results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. These financial statements and accompanying notes should be read in conjunction with the 2014 consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for its fiscal year ended December 31, 2014 filed with the SEC on February 19, 2015 (the “2014 Form 10-K”). There have been no changes in the significant accounting policies from those that were disclosed in the audited consolidated financial statements for the fiscal year ended December 31, 2014 included in the 2014 Form 10-K. d. Derivative Instruments: The Company’s primary objective for holding derivative instruments is to reduce its exposure to foreign currency rate changes. The Company reduces its exposure by entering into forward foreign exchange contracts with respect to operating expenses that are forecast to be incurred in currencies other than the U.S. dollar. A majority of the Company’s revenues and a majority of its operating expenditures are transacted in U.S. dollars. However, certain operating expenditures are incurred in or exposed to other currencies, primarily the New Israeli Shekel (“NIS”). The Company has established forecasted transaction currency risk management programs to protect against fluctuations in fair value and the volatility of future cash flows caused by changes in exchange rates. The Company’s currency risk management program includes forward foreign exchange contracts designated as cash flow hedges. These forward foreign exchange contracts generally mature within 12 months. The Company does not enter into derivative financial instruments for trading purposes. Derivative instruments measured at fair value and their classification on the consolidated balance sheets are presented in the following table (in thousands): Assets as of Liabilities as of Notional Fair Notional Fair Foreign exchange forward contract derivatives in cash flow hedging relationships - included in other current assets and accrued expenses and other liabilities $ 8,168 $ 67 $ 30,662 $ (326 ) For the three and nine months ended September 30, 2015, the unaudited consolidated statements of operations reflect a gain of approximately $137 and a loss of approximately $461, respectively, related to the effective portion of foreign currency forward contracts. For the three and nine months ended September 30, 2014, the unaudited consolidated statements of operations reflect a loss of approximately $167 and $149, respectively, related to the effective portion of foreign currency forward contracts. There was no ineffective portion for the three and nine months ended September 30, 2015 and 2014. e. Recently Issued Accounting Pronouncements: In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers”, an updated standard on revenue recognition. ASU 2014-09 provides enhancements to the quality and consistency of how revenue is reported while also improving comparability in the financial statements of companies reporting using IFRS and US GAAP. The core principle of the new standard is for companies to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration (that is, payment) to which the company expects to be entitled in exchange for those goods or services. The new standard also will result in enhanced disclosures about revenue, provide guidance for transactions that were not previously addressed comprehensively (for example, service revenue and contract modifications) and improve guidance for multiple-element arrangements. ASU 2014-09 was initially effective for annual and interim reporting periods beginning after December 15, 2016 and may be adopted either on a full retrospective or modified retrospective approach. On July 9, 2015, the FASB approved a one year deferral of the effective date of the ASU. The revised effective date is for annual reporting periods beginning after December 15, 2017 and interim periods therein, with an early adoption permitted as of the original effective date. The Company is still evaluating the impact of implementation of this standard on its consolidated financial statements.

Note 2 - Fair Value Measurement

Note 2 - Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Fair Value Disclosures [Text Block]	NOTE 2:- FAIR VALUE MEASUREMENTS The Company evaluates assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level to classify them for each reporting period. There have been no transfers between fair value measurements levels during the nine months ended September 30, 2015. The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis whereby inputs, used in valuation techniques, are assigned a hierarchical level. The following are the hierarchical levels of inputs to measure fair value: • Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2: Observable inputs that reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means. • Level 3: Unobservable inputs reflecting our own assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available. The following table sets forth the Company’s assets and liabilities that were measured at fair value as of September 30, 2015 and December 31, 2014 by level within the fair value hierarchy (in thousands): As of September 30, 2015 (unaudited) As of December 31, 2014 Level I Level II Level III Fair Level I Level II Level III Fair Financial assets: Forward foreign exchange contracts – 67 – 67 – – – – Financial liabilities: Forward foreign exchange contracts – – – – – (326 ) – (326 ) Total financial assets (liabilities) $ – $ 67 $ – $ 67 $ – $ (326 ) $ – $ (326 )

Note 3 - Commitments and Contin

Note 3 - Commitments and Contingent Liabilities	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 3:- COMMITMENTS AND CONTINGENT LIABILITIES a. Liens: The Company has several liens granted to financial institutions mainly to secure various operating lease agreements in connection with its office space. b. Lease Commitments: The Company rents its facilities in all locations under operating leases with lease periods expiring from 2015 - 2026. The lease agreements of VSI and VSL include extension options. VSL leases cars for its employees under operating lease agreements expiring at various dates from 2015 – 2018. Aggregate minimum rental commitments under non-cancelable leases as of September 30, 2015 for the upcoming years were as follows: unaudited 2015 $ 1,030 2016 3,793 2017 3,764 2018 3,688 2019 3,734 Thereafter 17,419 $ 33,428 Total rent expenses for the nine months ended September 30, 2015 and the year ended December 31, 2014 were $2,978 and $2,986, respectively. c. On March 31, 2014, the Company entered into a promissory note and related security documents with Bank Leumi USA. The Company may borrow up to $7,000 against certain of its accounts receivable outstanding amount, based on several conditions, at an annual interest rate of the Wall Street Journal Prime Rate less 0.15%. As of September 30, 2015, that rate amounted to 3.1%. This promissory note enables the Company, among other things, to engage in foreign currency hedging transactions with Bank Leumi USA to manage exposure to foreign currency risk without restricted cash requirements. The Company may borrow under the promissory note until March 31, 2016 at which time the principal sum of each such loan, together with accrued and unpaid interest payable, will become due and payable. As of September 30, 2015, the Company had no balance outstanding under the promissory note. As part of the transaction, the Company granted the lender a security interest in its personal property, excluding intellectual property and other intangible assets. The promissory note also contains customary events of default .

Note 4 - Stockholders' Equity

Note 4 - Stockholders' Equity	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE 4:– STOCKHOLDERS’ EQUITY a. On December 30, 2005, the Company’s board of directors adopted the Varonis Systems, Inc. 2005 Stock Plan (the “2005 Stock Plan”). As of December 31, 2013, the Company had reserved 4,713,319 shares of common stock available for issuance to employees, directors, officers and consultants of the Company and its subsidiaries. The options generally vest over four years. No awards were granted under the 2005 Stock Plan subsequent to December 31, 2013, and no further awards will be granted under the 2005 Stock Plan. On November 14, 2013, the Company’s board of directors adopted the Varonis Systems, Inc. 2013 Omnibus Equity Incentive Plan (the “2013 Plan”). As of September 30, 2015, the Company had reserved 1,904,633 shares of common stock available for issuance under the 2013 Plan to employees, directors, officers and consultants of the Company and its subsidiaries. The number of shares of common stock available for issuance under the 2013 Plan will be increased on January 1, 2016 and on each January 1 thereafter by four percent (4%) of the number of shares of common stock issued and outstanding on each December 31 immediately prior to the date of increase (rounded down to the nearest whole share), but the amount of each increase will be limited to the number of shares of common stock necessary to bring the total number of shares of Common Stock available for grant and issuance under the 2013 Plan to five percent (5%) of the number of shares of common stock issued and outstanding on each December 31. Awards granted under the 2013 Plan generally vest over four years. Any award that is forfeited or canceled before expiration becomes available for future grants under the 2013 Plan. A summary of employees’ stock options activities during the period ended September 30, 2015 is as follows: Period ended Number Average Aggregate Average Options outstanding at the beginning of the year 4,080,611 $ 9.697 $ 95,855 6.092 Granted 191,200 $ 28.253 Exercised (1,025,777 ) $ 1.582 Forfeited (134,666 ) $ 25.448 Options outstanding at the end of the period 3,111,368 $ 12.831 $ 20,901 6.193 Vested and expected to vest 2,987,446 $ 12.367 $ 20,867 6.085 Options exercisable at the end of the period 1,954,109 $ 6.759 $ 20,321 4.724 The aggregate intrinsic value in the table above represents the total intrinsic value that would have been received by the option holders had all option holders exercised their options on the last date of the exercise period. Total intrinsic value of options exercised for the nine months ended September 30, 2015 was $22,902. A summary of restricted stock units for employees, consultants and non-employee directors of the Company for the nine months ended September 30, 2015 is as follows: Number of Weighted- Unvested balance - January 1, 2015 27,470 $ 21.00 Granted 569,565 $ 24.68 Vested (23,919 ) $ 19.95 Forfeited (15,640 ) $ 23.53 Unvested balance - September 30, 2015 557,476 $ 24.73 As of September 30, 2015, there was $13,676 and $10,423 of total unrecognized compensation cost related to non-vested stock options and non-vested restricted stock units, respectively. This cost is expected to be recognized over a period of approximately 2.637 and 3.371 years for stock options and restricted stock units, respectively. b. The options outstanding as of September 30, 2015 (unaudited) have been separated into ranges of exercise price as follows: Range of exercise price Options Weighted Weighted Options Weighted Weighted $0.901 232,044 1.279 $ 0.901 232,044 1.279 $ 0.901 $1.039 - 1.576 1,049,834 3.611 $ 1.285 1,049,834 3.611 $ 1.285 $6.230 - 8.800 148,068 6.164 $ 6.778 133,433 6.122 $ 6.780 $12.470 380,648 7.427 $ 12.470 235,748 7.407 $ 12.470 $19.510 - 21.660 656,502 8.858 $ 21.220 126,099 8.522 $ 21.049 $22.010 - 24.230 310,775 8.550 $ 22.295 108,754 8.529 $ 22.375 $29.880 154,200 9.400 $ 29.880 – – $ – $39.860 179,297 8.479 $ 39.860 68,197 8.479 $ 39.860 3,111,368 6.193 $ 12.831 1,954,109 4.724 $ 6.759 c. The fair value of stock option grants for the period ended September 30, 2015 was estimated using the following weighted average assumptions: Period ended unaudited Expected dividend yield 0 % Expected volatility 65 % Risk-free interest rate 2.00 % Expected term (years) 6.25 d. Options issued to consultants: The Company’s outstanding options granted to consultants for sales and pre-marketing services as of September 30, 2015 (unaudited) were as follows: Options for Exercise price Options Exercisable (number) (number) February 2013 3,500 $ 12.470 2,083 February 2023 August 2013 5,000 $ 21.140 2,510 August 2023 October 2013 1,084 $ 24.230 433 October 2023 March 2014 14,917 $ 39.860 5,698 March 2024 May 2014 8,700 $ 22.010 2,900 May 2024 August 2014 1,250 $ 21.000 339 August 2024 November 2014 12,000 $ 21.660 – November 2024 May 2015 6,250 $ 19.510 – May 2025 52,701 13,963 e. 2015 Employee Stock Purchase Plan On May 5, 2015, the Company’s stockholders approved the Varonis Systems, Inc. 2015 Employee Stock Purchase Plan (the “ESPP”), which the Company’s board of directors had adopted on March 19, 2015. The ESPP became effective as of June 30, 2015. The ESPP allows eligible employees to purchase shares of the Company’s common stock at a discount through payroll deductions of up to 15% of their eligible compensation, at not less than 85% of the fair market value of the Company’s common stock on the first day or last trading day in the offering period, subject to any plan limitations. As of September 30, 2015, 500,000 shares of common stock were reserved for issuance under the ESPP. The number of shares available for issuance under the ESPP will be increased on January 1, 2016, and each January thereafter, by an amount equal to the lesser of (i) one percent (1%) of the number of shares of common stock issued and outstanding on each December 31 immediately prior to the date of increase, except that the amount of each such increase will be limited to the number of shares of common stock necessary to bring the total number of shares of common stock available for issuance under the ESPP to two percent (2%) of the number of shares of common stock issued and outstanding on each such December 31, or (ii) 400,000 shares of common stock. The ESPP will continue in effect until the earlier of (i) the date when no shares of common stock are available for issuance thereunder or (ii) June 30, 2025; unless terminated prior thereto by the Company’s board of directors or compensation committee, each of which has the right to terminate the ESPP at any time. f. Stock-based compensation expense for employees and consultants: The Company recognized non-cash stock-based compensation expense in the consolidated statements of operations as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (unaudited) (unaudited) (in thousands) (in thousands) Cost of revenues $ 98 $ 55 $ 300 $ 121 Research and development 524 319 1,535 790 Sales and marketing 756 614 2,195 1,473 General and administrative 679 226 1,674 454 Total $ 2,057 $ 1,214 $ 5,704 $ 2,838

Note 5 - Geographic Information

Note 5 - Geographic Information and Major Customer and Product Data	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 5:- GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA Summary information about geographic areas: ASC 280, “Segment Reporting,” establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company manages its business on the basis of one reportable segment and derives revenues from licensing of software, sale of professional services, maintenance and technical support (see Note 1 for a brief description of the Company’s business). The following is a summary of revenues within geographic areas: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (unaudited) (unaudited) (in thousands) (in thousands) Revenues based on customer’s location: United States $ 17,716 $ 15,080 $ 48,894 $ 38,964 EMEA 10,984 8,543 28,217 23,091 Rest of World 2,537 1,940 6,262 5,579 Total revenues $ 31,237 $ 25,563 $ 83,373 $ 67,634 September 30, December 31, Unaudited Audited (in thousands) Long-lived assets by geographic region: United States $ 6,250 $ 2,146 Israel 1,396 1,648 Other 186 195 $ 7,832 $ 3,989

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Initial Public Offering, Policy [Policy Text Block]	b. Initial Public Offering: On March 5, 2014, the Company closed its initial public offering (“IPO”) whereby 5,300,436 shares of common stock were sold by the Company to the public (inclusive of 500,436 shares of common stock pursuant to the full exercise of an overallotment option granted to the underwriters). The aggregate net proceeds received by the Company from the offering were approximately $106,071, net of underwriting discounts and commissions and offering expenses payable by the Company. Upon the closing of the IPO, all shares of the Company’s outstanding convertible preferred stock automatically converted into 15,082,141 shares of common stock, and outstanding warrants to purchase convertible preferred stock automatically converted into warrants to purchase 122,572 shares of common stock. On March 13, 2014, all such warrants were exercised, in a net share settlement, resulting in the issuance of 107,217 shares of common stock.
Basis of Accounting, Policy [Policy Text Block]	c. Basis of Presentation: The accompanying unaudited consolidated interim financial statements have been prepared in accordance with Article 10 of Regulation S-X, “Interim Financial Statements” and the rules and regulations for Form 10-Q of the Securities and Exchange Commission (the “SEC”). Pursuant to those rules and regulations, the Company has condensed or omitted certain information and footnote disclosure it normally includes in its annual consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). In management’s opinion, the Company has made all adjustments (consisting only of normal, recurring adjustments, except as otherwise indicated) necessary to fairly present its consolidated financial position, results of operations and cash flows. The Company’s interim period operating results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. These financial statements and accompanying notes should be read in conjunction with the 2014 consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for its fiscal year ended December 31, 2014 filed with the SEC on February 19, 2015 (the “2014 Form 10-K”). There have been no changes in the significant accounting policies from those that were disclosed in the audited consolidated financial statements for the fiscal year ended December 31, 2014 included in the 2014 Form 10-K.
Derivatives, Policy [Policy Text Block]	d. Derivative Instruments: The Company’s primary objective for holding derivative instruments is to reduce its exposure to foreign currency rate changes. The Company reduces its exposure by entering into forward foreign exchange contracts with respect to operating expenses that are forecast to be incurred in currencies other than the U.S. dollar. A majority of the Company’s revenues and a majority of its operating expenditures are transacted in U.S. dollars. However, certain operating expenditures are incurred in or exposed to other currencies, primarily the New Israeli Shekel (“NIS”). The Company has established forecasted transaction currency risk management programs to protect against fluctuations in fair value and the volatility of future cash flows caused by changes in exchange rates. The Company’s currency risk management program includes forward foreign exchange contracts designated as cash flow hedges. These forward foreign exchange contracts generally mature within 12 months. The Company does not enter into derivative financial instruments for trading purposes. Derivative instruments measured at fair value and their classification on the consolidated balance sheets are presented in the following table (in thousands): Assets as of Liabilities as of Notional Fair Notional Fair Foreign exchange forward contract derivatives in cash flow hedging relationships - included in other current assets and accrued expenses and other liabilities $ 8,168 $ 67 $ 30,662 $ (326 ) For the three and nine months ended September 30, 2015, the unaudited consolidated statements of operations reflect a gain of approximately $137 and There was no ineffective portion for the three and nine months ended September 30, 2015 and 2014.
New Accounting Pronouncements, Policy [Policy Text Block]	e. Recently Issued Accounting Pronouncements: In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers”, an updated standard on revenue recognition. ASU 2014-09 provides enhancements to the quality and consistency of how revenue is reported while also improving comparability in the financial statements of companies reporting using IFRS and US GAAP. The core principle of the new standard is for companies to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration (that is, payment) to which the company expects to be entitled in exchange for those goods or services. The new standard also will result in enhanced disclosures about revenue, provide guidance for transactions that were not previously addressed comprehensively (for example, service revenue and contract modifications) and improve guidance for multiple-element arrangements. ASU 2014-09 was initially effective for annual and interim reporting periods beginning after December 15, 2016 and may be adopted either on a full retrospective or modified retrospective approach. On July 9, 2015, the FASB approved a one year deferral of the effective date of the ASU. The revised effective date is for annual reporting periods beginning after December 15, 2017 and interim periods therein, with an early adoption permitted as of the original effective date. The Company is still evaluating the impact of implementation of this standard on its consolidated financial statements.

Note 1 - General (Tables)

Note 1 - General (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	Assets as of Liabilities as of Notional Fair Notional Fair Foreign exchange forward contract derivatives in cash flow hedging relationships - included in other current assets and accrued expenses and other liabilities $ 8,168 $ 67 $ 30,662 $ (326 )

Note 2 - Fair Value Measureme16

Note 2 - Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	As of September 30, 2015 (unaudited) As of December 31, 2014 Level I Level II Level III Fair Level I Level II Level III Fair Financial assets: Forward foreign exchange contracts – 67 – 67 – – – – Financial liabilities: Forward foreign exchange contracts – – – – – (326 ) – (326 ) Total financial assets (liabilities) $ – $ 67 $ – $ 67 $ – $ (326 ) $ – $ (326 )

Note 3 - Commitments and Cont17

Note 3 - Commitments and Contingent Liabilities (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	unaudited 2015 $ 1,030 2016 3,793 2017 3,764 2018 3,688 2019 3,734 Thereafter 17,419 $ 33,428

Note 4 - Stockholders' Equity (

Note 4 - Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Period ended Number Average Aggregate Average Options outstanding at the beginning of the year 4,080,611 $ 9.697 $ 95,855 6.092 Granted 191,200 $ 28.253 Exercised (1,025,777 ) $ 1.582 Forfeited (134,666 ) $ 25.448 Options outstanding at the end of the period 3,111,368 $ 12.831 $ 20,901 6.193 Vested and expected to vest 2,987,446 $ 12.367 $ 20,867 6.085 Options exercisable at the end of the period 1,954,109 $ 6.759 $ 20,321 4.724
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	Number of Weighted- Unvested balance - January 1, 2015 27,470 $ 21.00 Granted 569,565 $ 24.68 Vested (23,919 ) $ 19.95 Forfeited (15,640 ) $ 23.53 Unvested balance - September 30, 2015 557,476 $ 24.73
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]	Range of exercise price Options Weighted Weighted Options Weighted Weighted $0.901 232,044 1.279 $ 0.901 232,044 1.279 $ 0.901 $1.039 - 1.576 1,049,834 3.611 $ 1.285 1,049,834 3.611 $ 1.285 $6.230 - 8.800 148,068 6.164 $ 6.778 133,433 6.122 $ 6.780 $12.470 380,648 7.427 $ 12.470 235,748 7.407 $ 12.470 $19.510 - 21.660 656,502 8.858 $ 21.220 126,099 8.522 $ 21.049 $22.010 - 24.230 310,775 8.550 $ 22.295 108,754 8.529 $ 22.375 $29.880 154,200 9.400 $ 29.880 – – $ – $39.860 179,297 8.479 $ 39.860 68,197 8.479 $ 39.860 3,111,368 6.193 $ 12.831 1,954,109 4.724 $ 6.759
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Period ended unaudited Expected dividend yield 0 % Expected volatility 65 % Risk-free interest rate 2.00 % Expected term (years) 6.25
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Options for Exercise price Options Exercisable (number) (number) February 2013 3,500 $ 12.470 2,083 February 2023 August 2013 5,000 $ 21.140 2,510 August 2023 October 2013 1,084 $ 24.230 433 October 2023 March 2014 14,917 $ 39.860 5,698 March 2024 May 2014 8,700 $ 22.010 2,900 May 2024 August 2014 1,250 $ 21.000 339 August 2024 November 2014 12,000 $ 21.660 – November 2024 May 2015 6,250 $ 19.510 – May 2025 52,701 13,963
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (unaudited) (unaudited) (in thousands) (in thousands) Cost of revenues $ 98 $ 55 $ 300 $ 121 Research and development 524 319 1,535 790 Sales and marketing 756 614 2,195 1,473 General and administrative 679 226 1,674 454 Total $ 2,057 $ 1,214 $ 5,704 $ 2,838

Note 5 - Geographic Informati19

Note 5 - Geographic Information and Major Customer and Product Data (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Revenue from External Customers by Geographic Areas [Table Text Block]	Three Months Ended Nine Months Ended 2015 2014 2015 2014 (unaudited) (unaudited) (in thousands) (in thousands) Revenues based on customer’s location: United States $ 17,716 $ 15,080 $ 48,894 $ 38,964 EMEA 10,984 8,543 28,217 23,091 Rest of World 2,537 1,940 6,262 5,579 Total revenues $ 31,237 $ 25,563 $ 83,373 $ 67,634
Long-lived Assets by Geographic Areas [Table Text Block]	September 30, December 31, Unaudited Audited (in thousands) Long-lived assets by geographic region: United States $ 6,250 $ 2,146 Israel 1,396 1,648 Other 186 195 $ 7,832 $ 3,989

Note 1 - General (Details Textu

Note 1 - General (Details Textual) $ in Thousands	Mar. 05, 2014USD ($)shares	Sep. 30, 2015USD ($)shares	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)shares	Sep. 30, 2014USD ($)	Dec. 31, 2014shares	Mar. 13, 2014shares
IPO [Member]
Common Stock, Shares, Issued	5,300,436
Foreign Exchange Contract [Member]
Derivative Instrument, Maturity Period	1 year
Foreign Exchange Forward [Member]
Derivative, Gain on Derivative | $		$ 137
Derivative, Loss on Derivative | $			$ 167	$ 461	$ 149
Entity Incorporation, Date of Incorporation				Nov. 3, 2004
Operations Commenced Date				Jan. 1, 2005
Subsidiary or Equity Method Investee, Number		5		5
Common Stock, Shares, Issued		25,747,570		25,747,570		24,685,604
Common Stock, Shares Issued upon Exercise by Underwriters	500,436
Proceeds from Issuance of Common Stock | $	$ 106,071
Conversion of Convertible Preferred Stock to Common Stock at Initial Public Offering, Shares	15,082,141
Conversion of Preferred Stock Warrants to Common Stock Warrants, Shares	122,572
Class of Warrant or Right, Number of Securities Called by Warrants or Rights							107,217

Note 1 - General - Derivative I

Note 1 - General - Derivative Instruments Measured at Fair Value (Details) - Foreign Exchange Forward [Member] - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Cash Flow Hedging [Member]
Foreign exchange forward contract derivatives in cash flow hedging relationships - included in other current assets and accrued expenses and other liabilities, notional amount	$ 8,168
Foreign exchange forward contract derivatives in cash flow hedging relationships - included in other current assets and accrued expenses and other liabilities, fair value	$ 67
Foreign exchange forward contract derivatives in cash flow hedging relationships - included in other current assets and accrued expenses and other liabilities, notional amount		$ 30,662
Foreign exchange forward contract derivatives in cash flow hedging relationships - included in other current assets and accrued expenses and other liabilities, fair value		$ (326)
Foreign exchange forward contract derivatives in cash flow hedging relationships - included in other current assets and accrued expenses and other liabilities, fair value

Note 2 - Fair Value Measureme22

Note 2 - Fair Value Measurements (Details Textual)	9 Months Ended
	Sep. 30, 2015USD ($)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	$ 0

Note 2 - Fair Value Measureme23

Note 2 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) $ in Thousands	Sep. 30, 2015USD ($)
Fair Value, Inputs, Level 2 [Member] | Foreign Exchange Forward [Member]
Foreign exchange forward contract derivatives in cash flow hedging relationships - included in other current assets and accrued expenses and other liabilities, fair value	$ 67
Fair Value, Inputs, Level 3 [Member] | Foreign Exchange Forward [Member]
Total financial assets (liabilities)	$ 67
Foreign Exchange Forward [Member]
Foreign exchange forward contract derivatives in cash flow hedging relationships - included in other current assets and accrued expenses and other liabilities, fair value
Total financial assets (liabilities)	$ (326)

Note 3 - Commitments and Cont24

Note 3 - Commitments and Contingent Liabilities (Details Textual) - USD ($)	Mar. 31, 2014	Sep. 30, 2015	Dec. 31, 2014
Promissory Note [Member]
Long-term Line of Credit		$ 0
Line of Credit Facility, Maximum Borrowing Capacity	$ 7,000,000
Debt Instrument, Basis Spread on Variable Rate	0.15%
Line of Credit Facility, Interest Rate at Period End		3.10%
Operating Leases, Rent Expense		$ 2,978,000	$ 2,986,000

Note 3 - Commitments and Cont25

Note 3 - Commitments and Contingent Liabilities - Aggregate Minimum Rental Commitments under Non-Cancelable Leases (Details) $ in Thousands	Sep. 30, 2015USD ($)
2,015	$ 1,030
2,016	3,793
2,017	3,764
2,018	3,688
2,019	3,734
Thereafter	17,419
	$ 33,428

Note 4 - Stockholders' Equity26

Note 4 - Stockholders' Equity (Details Textual) - USD ($)	9 Months Ended	12 Months Ended	21 Months Ended
	Sep. 30, 2015	Dec. 31, 2013	Sep. 30, 2015
The 2005 Stock Plan [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		4 years
The 2005 Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			0
Common Stock, Capital Shares Reserved for Future Issuance		4,713,319
The 2013 Omnibus Equity Award Plan [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years
The 2013 Omnibus Equity Award Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance	1,904,633		1,904,633
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Reserved for Grant	4.00%
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum	5.00%
ESPP [Member]
Common Stock, Capital Shares Reserved for Future Issuance	500,000		500,000
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate	15.00%		15.00%
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent	85.00%
Common Stock, Capital Shares Reserved for Future Issuance, Annual Increase, Shares Issued and Outstanding Percentage	1.00%		1.00%
Common Stock, Capital Shares Reserved for Future Issuance, Shares Issued and Outstanding Percentage, Maximum	2.00%		2.00%
Common Stock, Capital Shares Reserved for Future Issuance, Annual Increase, Maximum	400,000		400,000
Employee Stock Option [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 13,676		$ 13,676
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 232 days
Restricted Stock Units (RSUs) [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 10,423		$ 10,423
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	3 years 135 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	191,200
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 22,902,000

Note 4 - Stockholder's Equity (

Note 4 - Stockholder's Equity (Deficiency) - Summary of Employees' Stock Options Activities (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares
Options outstanding at the beginning of the year (in shares)	4,080,611
Options outstanding at the beginning of the year (in dollars per share) | $ / shares	$ 9.697
Options outstanding | $	$ 20,901	$ 95,855
Options outstanding	6 years 70 days	6 years 33 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	191,200
Granted (in dollars per share) | $ / shares	$ 28.253
Exercised (in shares)	(1,025,777)
Exercised (in dollars per share) | $ / shares	$ 1.582
Forfeited (in shares)	(134,666)
Forfeited (in dollars per share) | $ / shares	$ 25.448
Options outstanding at the end of the period (in shares)	3,111,368	4,080,611
Options outstanding at the end of the period (in dollars per share) | $ / shares	$ 12.831	$ 9.697
Vested and expected to vest (in shares)	2,987,446
Vested and expected to vest (in dollars per share) | $ / shares	$ 12.367
Vested and expected to vest | $	$ 20,867
Vested and expected to vest	6 years 31 days
Options exercisable at the end of the period (in shares)	1,954,109
Options exercisable at the end of the period (in dollars per share) | $ / shares	$ 6.759
Options exercisable at the end of the period | $	$ 20,321
Options exercisable at the end of the period	4 years 264 days

Note 4 - Stockholders' Equity -

Note 4 - Stockholders' Equity - Summary of Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Unvested balance - January 1, 2015 (in shares)	27,470
Unvested balance - January 1, 2015 (in dollars per share) | $ / shares	$ 21
Granted (in shares)	569,565
Granted (in dollars per share) | $ / shares	$ 24.68
Vested (in shares)	(23,919)
Vested (in dollars per share) | $ / shares	$ 19.95
Forfeited (in shares)	(15,640)
Forfeited (in dollars per share) | $ / shares	$ 23.53
Unvested balance - September 30, 2015 (in shares)	557,476
Unvested balance - September 30, 2015 (in dollars per share) | $ / shares	$ 24.73

Note 4 - Stockholder's Equity29

Note 4 - Stockholder's Equity (Deficiency) - Options Outstanding Separated into Range of Exercise Price (Details)	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Range One [Member]
Weighted average exercise price of options outstanding (in dollars per share)	$ 0.901
Options outstanding (in shares) | shares	232,044
Weighted average remaining contractual life, outstanding	1 year 101 days
Options exercisable (in shares) | shares	232,044
Weighted average remaining contractual life, exercisable	1 year 101 days
Weighted average exercise price of options exercisable (in dollars per share)	$ 0.901
Range Two [Member]
Weighted average exercise price of options outstanding (in dollars per share)	$ 1.285
Options outstanding (in shares) | shares	1,049,834
Weighted average remaining contractual life, outstanding	3 years 223 days
Options exercisable (in shares) | shares	1,049,834
Weighted average remaining contractual life, exercisable	3 years 223 days
Weighted average exercise price of options exercisable (in dollars per share)	$ 1.285
Range of exercise price, minimum (in dollars per share)	1.039
Range of exercise price, maximum (in dollars per share)	1.576
Range Three [Member]
Weighted average exercise price of options outstanding (in dollars per share)	$ 6.778
Options outstanding (in shares) | shares	148,068
Weighted average remaining contractual life, outstanding	6 years 59 days
Options exercisable (in shares) | shares	133,433
Weighted average remaining contractual life, exercisable	6 years 44 days
Weighted average exercise price of options exercisable (in dollars per share)	$ 6.78
Range of exercise price, minimum (in dollars per share)	6.23
Range of exercise price, maximum (in dollars per share)	8.80
Range Four [Member]
Weighted average exercise price of options outstanding (in dollars per share)	$ 12.47
Options outstanding (in shares) | shares	380,648
Weighted average remaining contractual life, outstanding	7 years 155 days
Options exercisable (in shares) | shares	235,748
Weighted average remaining contractual life, exercisable	7 years 148 days
Weighted average exercise price of options exercisable (in dollars per share)	$ 12.47
Range Five [Member]
Weighted average exercise price of options outstanding (in dollars per share)	$ 21.22
Options outstanding (in shares) | shares	656,502
Weighted average remaining contractual life, outstanding	8 years 313 days
Options exercisable (in shares) | shares	126,099
Weighted average remaining contractual life, exercisable	8 years 190 days
Weighted average exercise price of options exercisable (in dollars per share)	$ 21.049
Range of exercise price, minimum (in dollars per share)	19.51
Range of exercise price, maximum (in dollars per share)	21.66
Range Six [Member]
Weighted average exercise price of options outstanding (in dollars per share)	$ 22.295
Options outstanding (in shares) | shares	310,775
Weighted average remaining contractual life, outstanding	8 years 200 days
Options exercisable (in shares) | shares	108,754
Weighted average remaining contractual life, exercisable	8 years 193 days
Weighted average exercise price of options exercisable (in dollars per share)	$ 22.375
Range of exercise price, minimum (in dollars per share)	22.01
Range of exercise price, maximum (in dollars per share)	24.23
Range Seven [Member]
Weighted average exercise price of options outstanding (in dollars per share)	$ 29.88
Options outstanding (in shares) | shares	154,200
Weighted average remaining contractual life, outstanding	9 years 146 days
Options exercisable (in shares) | shares
Weighted average remaining contractual life, exercisable
Weighted average exercise price of options exercisable (in dollars per share)
Range Eight [Member]
Weighted average exercise price of options outstanding (in dollars per share)	$ 39.86
Options outstanding (in shares) | shares	179,297
Weighted average remaining contractual life, outstanding	8 years 174 days
Options exercisable (in shares) | shares	68,197
Weighted average remaining contractual life, exercisable	8 years 174 days
Weighted average exercise price of options exercisable (in dollars per share)	$ 39.86
Weighted average exercise price of options outstanding (in dollars per share)	$ 12.831
Options outstanding (in shares) | shares	3,111,368
Weighted average remaining contractual life, outstanding	6 years 70 days
Options exercisable (in shares) | shares	1,954,109
Weighted average remaining contractual life, exercisable	4 years 264 days
Weighted average exercise price of options exercisable (in dollars per share)	$ 6.759

Note 4 - Stockholders' Equity30

Note 4 - Stockholders' Equity - Summary of Weighted Average Assumptions Used to Estimate Fair Value of Stock Option Grants (Details)	9 Months Ended
	Sep. 30, 2015
Expected dividend yield	0.00%
Expected volatility	65.00%
Risk-free interest rate	2.00%
Expected term (years)	6 years 91 days

Note 4 - Stockholders' Equity31

Note 4 - Stockholders' Equity - Outstanding Options Granted to Consultants for Sales and Pre-Marketing Services (Details)	9 Months Ended
	Sep. 30, 2015$ / sharesshares
February 2013 [Member] | Consultants [Member]
Options for shares of common stock (in shares)	3,500
Exercise price per share (in dollars per share) | $ / shares	$ 12.47
Options exercisable (in shares)	2,083
Exercisable through	February 2,023
August 2013 [Member] | Consultants [Member]
Options for shares of common stock (in shares)	5,000
Exercise price per share (in dollars per share) | $ / shares	$ 21.14
Options exercisable (in shares)	2,510
Exercisable through	August 2,023
October 2013 [Member] | Consultants [Member]
Options for shares of common stock (in shares)	1,084
Exercise price per share (in dollars per share) | $ / shares	$ 24.23
Options exercisable (in shares)	433
Exercisable through	October 2,023
March 2014 [Member] | Consultants [Member]
Options for shares of common stock (in shares)	14,917
Exercise price per share (in dollars per share) | $ / shares	$ 39.86
Options exercisable (in shares)	5,698
Exercisable through	March 2,024
May 2014 [Member] | Consultants [Member]
Options for shares of common stock (in shares)	8,700
Exercise price per share (in dollars per share) | $ / shares	$ 22.01
Options exercisable (in shares)	2,900
Exercisable through	May 2,024
August 2014 [Member] | Consultants [Member]
Options for shares of common stock (in shares)	1,250
Exercise price per share (in dollars per share) | $ / shares	$ 21
Options exercisable (in shares)	339
Exercisable through	August 2,024
November 2014 [Member] | Consultants [Member]
Options for shares of common stock (in shares)	12,000
Exercise price per share (in dollars per share) | $ / shares	$ 21.66
Exercisable through	November 2,024
May 2015 [Member] | Consultants [Member]
Options for shares of common stock (in shares)	6,250
Exercise price per share (in dollars per share) | $ / shares	$ 19.51
Exercisable through	May 2,025
Consultants [Member]
Options for shares of common stock (in shares)	52,701
Options exercisable (in shares)	13,963
Exercise price per share (in dollars per share) | $ / shares	$ 28.253
Options exercisable (in shares)	1,954,109

Note 4 - Stockholders' Equity32

Note 4 - Stockholders' Equity - Summary of Recognized Non-cash Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Cost of Sales [Member]
Stock-based compensation	$ 98	$ 55	$ 300	$ 121
Research and Development Expense [Member]
Stock-based compensation	524	319	1,535	790
Selling and Marketing Expense [Member]
Stock-based compensation	756	614	2,195	1,473
General and Administrative Expense [Member]
Stock-based compensation	679	226	1,674	454
Stock-based compensation	$ 2,057	$ 1,214	$ 5,704	$ 2,838

Note 5 - Geographic Informati33

Note 5 - Geographic Information and Major Customer and Product Data (Details Textual)	9 Months Ended
	Sep. 30, 2015
Number of Reportable Segments	1

Note 5 - Geographic Informati34

Note 5 - Geographic Information and Major Customer and Product Data - Summary of Revenues within Geographical Areas (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
UNITED STATES
Revenues	$ 17,716	$ 15,080	$ 48,894	$ 38,964
EMEA [Member]
Revenues	10,984	8,543	28,217	23,091
Rest of World [Member]
Revenues	2,537	1,940	6,262	5,579
Revenues	$ 31,237	$ 25,563	$ 83,373	$ 67,634

Note 5 - Geographic Informati35

Note 5 - Geographic Information and Major Customer and Product Data - Summary of Long-lived Assets by Geographic Region (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
UNITED STATES
Long-lived assets	$ 6,250	$ 2,146
ISRAEL
Long-lived assets	1,396	1,648
Rest of World [Member]
Long-lived assets	186	195
Long-lived assets	$ 7,832	$ 3,989