SolarEdge (SEDG) 10-Q 10 May 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2016	May. 01, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Entity Registrant Name	SolarEdge Technologies Inc
Entity Central Index Key	1,419,612
Current Fiscal Year End Date	--06-30
Entity Current Reporting Status	No
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		40,730,849

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 84,070	$ 144,750
Restricted cash	944	$ 3,639
Marketable Securities	44,059
Trade receivables, net	56,145	$ 35,428
Prepaid expenses and other accounts receivable	18,613	32,645
Inventories	85,514	73,950
Total current assets	289,345	290,412
PROPERTY AND EQUIPMENT, NET	26,213	$ 14,717
LONG-TERM ASSETS:
Long-term marketable securities	43,151
Long-term prepaid expenses and lease deposits	440	$ 529
Deferred tax assets, net	6,486
Intangible assets, net	737
Total long-term assets	50,814	$ 529
Total assets	366,372	305,658
CURRENT LIABILITIES:
Trade payables	45,138	80,684
Employees and payroll accruals	12,358	6,814
Warranty obligations	13,510	9,431
Deferred revenues	2,642	1,676
Accrued expenses and other accounts payable	7,797	6,987
Total current liabilities	81,445	105,592
LONG-TERM LIABILITIES
Warranty obligations	33,149	22,448
Deferred revenues	13,266	8,289
Lease incentive obligation	2,265	2,385
Total long-term liabilities	48,680	33,122
Share capital
Common stock of $0.0001 par value - Authorized: 125,000,000 shares as of March 31, 2016 (unaudited) and June 30, 2015; issued and outstanding: 40,684,496 and 39,297,539 shares as of March 31, 2016 (unaudited) and June 30, 2015, respectively.	4	4
Additional paid-in capital	296,480	287,152
Accumulated other comprehensive income (loss)	417	(222)
Accumulated deficit	(60,654)	(119,990)
Total stockholders' equity	236,247	166,944
Total liabilities and stockholders' equity	$ 366,372	$ 305,658

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2016	Jun. 30, 2015
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, authorized shares	125,000,000	125,000,000
Common stock, issued shares	40,684,496	39,297,539
Common stock, outstanding shares	40,684,496	39,297,539

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Revenues	$ 125,205	$ 86,399	$ 365,091	$ 226,658
Cost of revenues	84,471	62,698	252,248	173,146
Gross profit	40,734	23,701	112,843	53,512
Operating expenses:
Research and development, net	8,709	5,490	23,999	15,317
Sales and marketing	8,826	6,422	25,903	17,541
General and administrative	3,460	1,990	9,066	4,270
Total operating expenses	20,995	13,902	58,968	37,128
Operating income	19,739	9,799	53,875	16,384
Financial income (expenses), net	2,029	(3,436)	998	(3,378)
Income before taxes on income	21,768	6,363	54,873	13,006
Taxes on income (tax benefit)	969	398	(4,463)	1,146
Net income	$ 20,799	$ 5,965	$ 59,336	$ 11,860
Net basic earnings per share of common stock	$ 0.52	$ 0.01	$ 1.49	$ 0.02
Net diluted earnings per share of common stock	$ 0.47	$ 0.01	$ 1.34	$ 0.01
Weighted average number of shares used in computing net basic earnings per share of common stock	40,362,093	2,822,893	39,725,227	2,817,090
Weighted average number of shares used in computing net diluted earnings per share of common stock	44,577,901	7,099,046	44,347,071	5,534,903

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 20,799	$ 5,965	$ 59,336	$ 11,860
Available-for-sale securities:
Changes in unrealized losses, net of tax benefit	87		6
Reclassification adjustments for losses included in net income	1		1
Net change	88		7
Cash flow hedges:
Changes in unrealized gains, net of tax expense	668		745
Reclassification adjustments for gains, net of tax expense included in net income	(33)		(35)
Net change	635		710
Foreign currency translation adjustments, net	(13)	$ (102)	(78)	$ (202)
Other comprehensive income (loss)	710	(102)	639	(202)
Comprehensive income	$ 21,509	$ 5,863	$ 59,975	$ 11,658

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows provided by (used in) operating activities:
Net income	$ 59,336	$ 11,860
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	2,601	$ 1,647
Amortization of intangible assets	63
Amortization of premiums on available-for-sale marketable securities	209
Stock-based compensation related to employees and non-employees consultants stock options	$ 6,689	$ 1,750
Financial income, net related to term loan		(992)
Remeasurement of warrants to purchase preferred and common stock		2,065
Changes in assets and liabilities:
Inventories	$ (11,446)	(39,071)
Prepaid expenses and other accounts receivable	13,186	(12,198)
Trade receivables, net	(20,681)	$ (25,993)
Deferred tax assets, net	(6,627)
Trade payables	(35,554)	$ 39,604
Employees and payroll accruals	5,517	883
Warranty obligations	14,780	9,718
Deferred revenues	5,942	2,116
Accrued expenses and other accounts payable	497	2,733
Lease incentive obligation	(120)	2,243
Net cash provided by (used in) operating activities	34,392	(3,635)
Cash flows used in investing activities:
Purchase of property and equipment	(11,545)	$ (8,254)
Purchase of intangible assets	(800)
Decrease (increase) in restricted cash	2,695	$ (1,973)
Decrease (increase) in short and long-term lease deposits	23	$ (24)
Purchases of available-for-sale marketable securities	(88,883)
Maturities of available-for-sale marketable securities	1,000
Net cash used in investing activities	$ (97,510)	$ (10,251)
Cash flows from financing activities:
Proceeds from short-term bank loans		23,000
Repayments of short-term loan		(36,326)
Repayments of term loan		(5,919)
Proceeds from issuance of stock		24,712
Proceeds from IPO, net		133,944
Proceeds from exercise of employees and non-employees consultants stock options	$ 2,639	46
Net cash provided by financing activities	2,639	139,457
Increase (decrease) in cash and cash equivalents	(60,479)	125,571
Cash and cash equivalents at the beginning of the period	144,750	9,754
Erosion due to exchange rate differences	(201)	(121)
Cash and cash equivalents at the end of the period	$ 84,070	135,204
Supplemental disclosure of non-cash financing activities:
Issuance expenses not paid in cash		$ 2,489

GENERAL

GENERAL	9 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	NOTE 1:- GENERAL a. SolarEdge Technologies, Inc. (the “Company”) and its subsidiaries design, develop, and sell an intelligent inverter solution designed to maximize power generation at the individual photovoltaic (“PV”) module level while lowering the cost of energy produced by the solar PV system and providing comprehensive and advanced safety features. The Company’s products consist mainly of (i) power optimizers designed to maximize energy throughput from each and every module through constant tracking of Maximum Power Point individually per module, (ii) inverters which invert direct current (DC) from the PV module to alternating current (AC) and (iii) a related cloud-based monitoring platform, that collects and processes information from the power optimizers and inverters of a solar PV system to enable customers and system owners, as applicable, to monitor and manage the solar PV systems. The Company operates its business itself and through its wholly-owned subsidiaries: SolarEdge Technologies Ltd. in Israel; SolarEdge Technologies GmbH in Germany; SolarEdge Technologies (China) Co., Ltd in China; SolarEdge Technologies (Australia) PTY Ltd. in Australia; SolarEdge Technologies (Canada) Ltd. in Canada; SolarEdge Technologies (Holland) B.V. in the Netherlands; SolarEdge Technologies (UK) Ltd in United Kingdom; SolarEdge Technologies (Japan) Co., Ltd. in Japan, SolarEdge Technologies (France) SARL in France, SolarEdge Technologies Italy S.R.L. in Italy and SolarEdge Technologies (Bulgaria) Ltd. in Bulgaria (collectively, the “subsidiaries”). Except for SolarEdge Technologies Ltd in Israel, which carries out the research and development, management of manufacturing, global sales and support and management activities, the other subsidiaries are engaged solely in selling, marketing and support activities. The Company was incorporated in Delaware in August 2006 and began commercial sale of its products in January 2010. b. Recent accounting pronouncements: Inventory: In July 2015, the Financial Accounting Standards Board (“FASB”) issued “ASU 2015-11, Inventory (Topic 330), simplifying the Measurement of Inventory”, which changes the measurement principles for inventory from the lower of cost or market to the lower of cost and net realizable value. Net realizable value is defined as the “estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation.” ASU 2015-11 eliminates the guidance that required entities to consider replacement cost or net realizable value less an approximately normal profit margin in the subsequent measurement of inventory when cost is determined on a first-in, first-out or average cost basis. The provisions of ASU 2015-11 are effective for public entities with fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted. The Company is in the process of evaluating the impact of ASU 2015-11 on its consolidated financial position, consolidated results of operations, and consolidated cash flows Deferred Taxes: In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740) - Balance Sheet Classification of Deferred Taxes, which will require that the presentation of deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments in this update are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. The Company has adopted this guidance effective December 31, 2015. The adoption only impacted the presentation in its consolidated financial statements and related disclosure. No prior periods were retroactively adjusted. c. The significant accounting policies applied in the Company’s audited annual consolidated financial statements as of June 30, 2015 are applied consistently in these financial statements. d. 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 (“U.S. 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 2015 consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for its fiscal year ended June 30, 2015 filed with the SEC on August 20, 2015 (the “2015 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 June 30, 2015 included in the 2015 Form 10-K. e. The Company depends on two contract manufacturers and several limited or single source component suppliers. Reliance on these vendors makes the Company vulnerable to possible capacity constraints and reduced control over component availability, delivery schedules, manufacturing yields and costs. Two vendors collectively account for 72% (unaudited) and 79% of the Company’s total trade payables as of March 31, 2016 (unaudited) and June 30, 2015, respectively. f. Marketable Securities: Marketable securities consist of corporate and governmental bonds. The Company determines the appropriate classification of marketable securities at the time of purchase and re-evaluates such designation at each balance sheet date. In accordance with FASB ASC No. 320 “Investments- Debt and Equity Securities”, the Company classifies marketable securities as available-for-sale. Available-for-sale securities are stated at fair value, with unrealized gains and losses reported in accumulated other comprehensive income (loss), a separate component of stockholders’ equity, net of taxes. Realized gains and losses on sales of marketable securities, as determined on a specific identification basis, are included in financial income (expenses), net. The amortized cost of marketable securities is adjusted for amortization of premium and accretion of discount to maturity, both of which, together with interest, are included in financial income (expenses), net. The Company classifies its marketable debt securities as either short-term or long-term based on each instrument’s underlying contractual maturity date. Marketable debt securities with maturities of 12 months or less are classified as short-term and marketable debt securities with maturities greater than 12 months are classified as long-term. The Company recognizes an impairment charge when a decline in the fair value of its investments in debt securities below the cost basis of such securities is judged to be other-than-temporary. Factors considered in making such a determination include the duration and severity of the impairment, the reason for the decline in value, the potential recovery period and the Company’s intent to sell, including whether it is more likely than not that the Company will be required to sell the investment before recovery of cost basis. If the Company does not intend to sell the security or it is not more likely than not that it will be required to sell the security before it recovers in value, the Company must estimate the net present value of cash flows expected to be collected. If the amortized cost exceeds the net present value of cash flows, such excess is considered a credit loss and an other-than-temporary impairment has occurred. For securities that are deemed other-than-temporarily impaired (“OTTI”), the amount of impairment is recognized in the statement of operations and is limited to the amount related to credit losses, while impairment related to other factors is recognized in other comprehensive income (loss). The Company did not recognize OTTI on its marketable securities during the nine months ended on March 31, 2016. g. Derivative financial instruments: The Company accounts for derivatives and hedging based on ASC 815 (“Derivatives and Hedging”). ASC 815 requires the Company to recognize all derivatives on the balance sheet at fair value. The accounting for changes in the 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 relationship and further, on the type of hedging relationship. To protect against the increase in value of forecasted foreign currency cash flows resulting from salary and lease payments of its Israeli facilities denominated in the Israeli currency, the New Israeli Shekel (“NIS”), during the three and nine months ended March 31, 2016, the Company instituted a foreign currency cash flow hedging program. The Company hedges portions of the anticipated payroll and lease payments denominated in NIS 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 cash flows is offset by gains in the fair value of the hedging contracts. These hedging contracts are designated as cash flow hedges, as defined by ASC 815 and are all effective hedges of these expenses. In accordance with ASC 815, 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 effective portion of the gain or loss on the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Any gain or loss on a derivative instrument in excess of the cumulative change in the present value of future cash flows of the hedged item is recognized in current earnings during the period of change. In addition to the above mentioned cash flow hedges transactions, the Company also entered into derivative instrument arrangements to hedge the Company’s exposure to currencies other than the U.S. dollar. These derivative instruments are not designated as cash flows hedges, as defined by ASC 815, and therefore all gains and losses, resulting from fair value remeasurement, were recorded immediately in the statement of operations, as financial income (expenses). As of March 31, 2016, the Company entered into forward contracts and put and call options to sell U.S. dollars and Euros in the amount of $19,547 and €2,500,000, respectively. These hedging contracts do not contain any credit-risk-related contingency features. See Note 6 for information on the fair value of these hedging contracts. The fair value of derivative assets and derivative liabilities as of March 31, 2016 was $854 and $5, respectively which was recorded in other accounts receivable and prepaid expenses in the consolidated balance sheets. The amount recorded as gain in the cost of revenues expenses under the consolidated statements of operations for the three and the nine months ended March 31, 2016 (unaudited) resulted from the above referenced hedging transactions was $8. The amount recorded as gain in the research and development, net expenses under the consolidated statements of operations for the three and the nine months ended March 31, 2016 (unaudited) resulted from the above referenced hedging transactions was $18. The amount recorded as gain in the sales and marketing expenses under the consolidated statements of operations for the three and the nine months ended March 31, 2016 (unaudited) resulted from the above referenced hedging transactions was $11. The amount recorded as gain in the general and administrative expenses under the consolidated statements of operations for the three and the nine months ended March 31, 2016 (unaudited) resulted from the above referenced hedging transactions was $3 and $6, respectively. The fair value of the outstanding derivative instruments as of March 31, 2016 (unaudited) and June 30, 2015 is summarized below: Fair Value of Derivative Instruments Balance Sheet Location As of March 31, 2016 (unaudited) As of June 30, 2015 Derivative Assets Foreign exchange forward contracts and put and call options Prepaid expenses and other accounts receivable (*) 849 859 Total 849 859 (*) Estimated to be reclassified into earnings until December 31, 2016. The effect of derivative instruments in cash flow hedging transactions on income and other comprehensive income (“OCI”) for the three and the nine months ended March 31, 2016 and 2015 is summarized below: Gains on Derivatives Recognized in OCI Gains on Derivatives Recognized in OCI for the three months ended for the nine months ended March 31, March 31, 2016 2015 2016 2015 (unaudited) (unaudited) Foreign exchange forward contracts and put and call options 668 - 745 - Gains Reclassified from OCI into Income Gains Reclassified from OCI into Income for the three months ended for the nine months ended March 31, March 31, 2016 2015 2016 2015 (unaudited) (unaudited) Foreign exchange forward contracts and put and call options 33 - 35 - h. Intangible assets: On March 9, 2015, the Company and Beacon Power LLC, a Delaware limited liability company (“Beacon”) entered into a patent purchase agreement under which the Company agreed to purchase all rights in the patents. In July 2015, the Company completed the purchase of the patents for $800. The patents are stated at cost, net of accumulated amortization. Amortization is calculated by the straight-line method over 10 years, which represents the estimated useful lives of the patents. Amortization expenses for the three and the nine months ended March 31, 2016 (unaudited) were $21 and $63, respectively. i. Accumulated other comprehensive income (loss): The following table summarizes the changes in accumulated balances of other comprehensive income (loss), net of taxes, for the three months ended March 31, 2016 (unaudited): Unrealized gains (losses) on available-for-sale marketable securities Unrealized gains (losses) on cash flow hedges Unrealized gains (losses) on foreign currency translation Total Beginning balance (81 ) 75 (287 ) (293 ) Other comprehensive income (loss) before reclassifications 87 668 (13 ) 742 Losses (gains) reclassified from accumulated other comprehensive income (loss) 1 (33 ) - (32 ) Net current period other comprehensive income (loss) 88 635 (13 ) 710 Ending balance 7 710 (300 ) 417 The following table summarizes the changes in accumulated balances of other comprehensive loss, net of taxes, for the nine months ended March 31, 2016 (unaudited): Unrealized gains (losses) on available-for-sale marketable securities Unrealized gains (losses) on cash flow hedges Unrealized gains (losses) on foreign currency translation Total Beginning balance - - (222 ) (222 ) Other comprehensive income (loss) before reclassifications 6 745 (78 ) 673 Losses (gains) reclassified from accumulated other comprehensive income (loss) 1 (35 ) - (34 ) Net current period other comprehensive income (loss) 7 710 (78 ) 639 Ending balance 7 710 (300 ) 417

MARKETABLE SECURITIES

MARKETABLE SECURITIES	9 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
MARKETABLE SECURITIES	NOTE 2:- MARKETABLE SECURITIES Amortized cost Gross unrealized gains Gross unrealized losses Fair value Corporate bonds $ 82,183 $ 55 $ 36 $ 82,202 Governmental bonds $ 5,015 $ 3 $ 10 $ 5,008 $ 87,198 $ 58 $ 46 $ 87,210 As of June 30, 2015, the Company had no investments in marketable securities. The amortized cost of available-for-sale marketable securities at March 31, 2016, by contractual maturities, is shown below: Amortized cost Gross unrealized gains Gross unrealized losses Fair value Due in one year or less $ 44,050 $ 21 $ 12 $ 44,059 Due after one year to two years $ 43,148 $ 37 $ 34 $ 43,151 $ 87,198 $ 58 $ 46 $ 87,210 As of March 31, 2016, management believes the impairments are not other than temporary and therefore the impairment losses were recorded in accumulated other comprehensive income (loss). The Company has no intent to sell these securities and it is more likely than not that the Company will not be required to sell these securities prior to the recovery of the entire amortized cost basis. As of March 31, 2016 (unaudited), there was 32 securities in a loss position. The total fair value of marketable securities with outstanding unrealized losses as of March 31, 2016 (unaudited) amounted to $40,147, while the unrealized losses for these marketable securities amounted to $46.

INVENTORIES

INVENTORIES	9 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
INVENTORIES	NOTE 3:- INVENTORIES March 31, 2016 June 30, 2015 (unaudited) Raw materials $ 10,639 $ 14,405 Finished goods 74,875 59,545 $ 85,514 $ 73,950

WARRANTY OBLIGATIONS

WARRANTY OBLIGATIONS	9 Months Ended
	Mar. 31, 2016
Product Warranties Disclosures [Abstract]
WARRANTY OBLIGATIONS	NOTE 4:- WARRANTY OBLIGATIONS Changes in the Company’s product warranty liability for the nine months ended March 31, 2016 and 2015 were as follows: Nine months ended March 31, 2016 2015 (unaudited) Balance, at beginning of period $ 31,879 $ 18,181 Additions and adjustments to cost of revenues 21,250 13,456 Usage and current warranty expenses (6,470 ) (3,738 ) Balance, at end of period 46,659 27,899 Less current portion 13,510 7,661 Long term portion $ 33,149 $ 20,238

REVOLVING CREDIT LINE

REVOLVING CREDIT LINE	9 Months Ended
	Mar. 31, 2016
Line of Credit Facility [Abstract]
REVOLVING CREDIT LINE	NOTE 5:- REVOLVING CREDIT LINE In June 2011, the Company entered into an agreement for a revolving line of credit from a bank lender (the "Bank Lender"). On February 17, 2015, the Company amended and restated the agreement with the Bank Lender for its revolving line of credit, which permits aggregate borrowings of up to $40 million in an amount not to exceed 80% of the eligible accounts receivable and bears interest, payable monthly, at the Bank Lender’s prime rate plus a margin of 0.5% to 2.0%. The Company’s revolving line of credit will terminate, and outstanding borrowings will be payable, on December 31, 2016. In connection with the revolving line of credit, the Company granted the Bank Lender security interests in substantially all of the Company’s assets, including a first-priority security interest in the Company’s trade receivables, cash and cash equivalents. Financial covenants contained in the amended and restated agreement require the Company to maintain EBITDA and liquidity at specified levels. The Company is required to maintain liquidity (defined as unrestricted and unencumbered cash, plus availability in the amended and restated agreement) of $6,750. The amended and restated agreement also contains covenants that restrict the Company’s ability to dispose of assets, engage in business combinations (or permit a subsidiary to engage in business combinations), grant liens, borrow money, or pay dividends. As of March 31, 2016 (unaudited) and June 30, 2015, the Company was in compliance with all applicable covenants in the amended and restated agreement. As of March 31, 2016 (unaudited), the Company had no outstanding borrowings pursuant to this revolving line of credit.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 6:- 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 March 31, 2016. 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- Include other inputs that are directly or indirectly observable in the marketplace. Level 3- Unobservable inputs which are supported by little or no market activity. The following table sets forth the Company’s assets that were measured at fair value as of March 31, 2016 (unaudited) by level within the fair value hierarchy: Balance as of Fair value measurements Description March 31, 2016 (unaudited) Level 1 Level 2 Level 3 Cash equivalents: Money market mutual funds $ 17,520 $ 17,520 - - Derivative instruments asset $ 849 - $ 849 - Short-term marketable securities: Corporate bonds $ 43,055 - $ 43,055 - Governmental bonds $ 1,004 - $ 1,004 - Long-term marketable securities: Corporate bonds $ 39,147 - $ 39,147 - Governmental bonds $ 4,004 - $ 4,004 - The following table sets forth the Company’s assets that were measured at fair value as of June 30, 2015 by level within the fair value hierarchy: Balance as of Fair value measurements Description June 30, 2015 Level 1 Level 2 Level 3 Derivative instruments asset $ 859 - $ 859 - In addition to the assets described above, the Company’s financial instruments also include cash and cash equivalents, restricted and short-term deposits, trade receivables, other accounts receivable, trade payables, accrued expenses and other payables. The fair value of these financial instruments was not materially different from their carrying values on Mach 31, 2016 due to the short-term maturity of these instruments.

LEASE INCENTIVE OBLIGATION

LEASE INCENTIVE OBLIGATION	9 Months Ended
	Mar. 31, 2016
Leases [Abstract]
LEASE INCENTIVE OBLIGATION	NOTE 7:- LEASE INCENTIVE OBLIGATION The Company has an operating lease agreement for a building in Herziliya, Israel. In connection with this lease, the Company and its third party lessor (the "Lessor"), agreed that the Lessor would reimburse approximately $2,938 for certain leasehold improvements made by the Company. As of March 31, 2016 (unaudited), the Company received in cash $2,917 from the Lessor in connection with such leasehold improvements. These leasehold improvements are accounted for as a lease incentive obligation, which is recorded under long-term liabilities, net of the current portion recorded in accrued expenses and other accounts payable under current liabilities. The lease incentive obligation is being amortized over the life of the lease and as a reduction to rent expense. As of March 31, 2016, the net amortized amount of lease incentive obligation recorded under long-term liabilities is $2,265.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	9 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	NOTE 8:- COMMITMENTS AND CONTINGENT LIABILITIES a. Lease commitments: The Company and its subsidiaries lease their operating facilities under non-cancelable operating lease agreements, which expire over the next nine years, with the last ending in December 2024. The future minimum lease commitments of the Company and its subsidiaries under various non-cancelable operating lease agreements in respect of premises that are in effect as of March 31, 2016 (unaudited), are as follows: Year ended June 30, (unaudited) 2016 598 2017 2,252 2018 2,148 2019 2,003 2020 and thereafter 8,707 15,708 Rent expenses for the nine months ended March 31, 2016 (unaudited) and 2015 (unaudited) were approximately $1,653 and $1,222, respectively. b. Guarantees: As of March 31, 2016 (unaudited), contingent liabilities exist regarding guarantees in the amount of $631, $53 and $85 in respect of office rent lease agreements, customs transactions and credit card limits, respectively. c. Royalty and Governmental commitments: As of March 31, 2016 (unaudited), the aggregate contingent liability to the Binational Industrial Research and Development Foundation (BIRD-F) amounted to approximately $1,132 which would be payable by the Company if it ever did generate revenues from such project. As of March 31, 2016 (unaudited), the aggregate contingent liability to the Office of the Chief Scientist (the OCS) amounted to $782. d. Contractual purchase obligations: The Company has contractual obligations to purchase certain goods and raw materials. These contractual purchase obligations relate to certain inventories held by contract manufacturers and purchase orders initiated by the contract manufacturers and suppliers, which cannot be canceled without penalty. The Company utilizes third parties to manufacture its products. In addition, it acquires raw materials or other goods and services, including product components, by issuing to suppliers authorizations to purchase based on its projected demand and manufacturing needs. As of March 31, 2016 (unaudited), the Company had non-cancelable purchase obligations totaling approximately $84,275, of which the Company already recorded a provision for loss in the amount of $1,860. e. Legal claims: From time to time, the Company may be involved in various claims and legal proceedings. The Company reviews the status of each matter and assesses its potential financial exposure. If the potential loss from any claim or legal proceeding is considered probable and the amount can be reasonably estimated, the Company accrues a liability for the estimated loss. These accruals are reviewed at least quarterly and adjusted to reflect the impact of negotiations, settlements, rulings, advice of legal counsel and other information and events pertaining to a particular matter.

STOCK CAPITAL

STOCK CAPITAL	9 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK CAPITAL	NOTE 9:- STOCK CAPITAL a. On March 23, 2015, the Company's board of directors and the requisite holders of the Company's capital stock consented to a 1-for-3 reverse stock split of the Company's common stock. As a result of the reverse stock split, (i) every 3 shares of authorized, issued and outstanding common stock was decreased to one share of authorized, issued and outstanding common stock, (ii) the number of shares of common stock into which each outstanding warrant or option to purchase common stock is exercisable was proportionally decreased on a 1-for-3 basis, (iii) all share prices and exercise prices were proportionately increased. All of the share numbers, share prices, and exercise prices have been adjusted within these consolidated financial statements, on a retroactive basis, to reflect this 1-for-3 reverse stock split. b. Common Stock: Authorized Issued and outstanding Number of shares March 31, 2016 June 30, 2015 March 31, 2016 June 30, 2015 (unaudited) (unaudited) Stock of $0.0001 par value: Common stock 125,000,000 125,000,000 40,684,496 39,297,539 c. Stock Incentive plans: The Company’s 2007 Global Incentive Plan (the “2007 Plan”) was adopted by the board of directors on August 30, 2007. On March 31, 2015, upon consummation of the Company’s Initial Public Offering (“IPO”), the 2007 Plan was terminated and no further awards will be granted thereunder. All outstanding awards will continue to be governed by their existing terms and 379,358 available options for future grant were transferred to the Company’s 2015 Global Incentive Plan (the “2015 Plan”) and are reserved for future issuances under the 2015 Plan. The 2015 Plan became effective upon the consummation of the IPO. The 2015 Plan provides for the grant of options, RSUs and other share-based awards to directors, employees, officers and consultants of the Company and its subsidiaries. The Share Reserve will automatically increase on January 1st of each year during the term of the 2015 Plan commencing on January 1st of the year following the year in which the 2015 Plan becomes effective in an amount equal to five percent (5%) of the total number of shares of common stock outstanding on December 31st of the preceding calendar year; provided, however, that our board of directors may provide that there will not be a January 1st increase in the Share Reserve in a given year or that the increase will be less than five percent (5%) of the shares of common stock outstanding on the preceding December 31st. The aggregate maximum number of shares of common stock that may be issued on the exercise of incentive stock options is ten million (10,000,000). As of March 31, 2016 (unaudited), a total of 3,827,117 (unaudited) shares of common stock were reserved for issuance under the 2015 Plan (the “Share Reserve”). As of March 31, 2016 (unaudited), an aggregate of 2,731,852 shares of common stock are available for future grant under the 2015 Plan. d. Options granted to employees and members of the board of directors: A summary of the activity in the options granted to employees and members of the board of directors for the nine months ended March 31, 2016 (unaudited) and related information follows: Weighted average Weighted remaining Number average contractual Aggregate of exercise term intrinsic Options price in years value Outstanding as of July 1, 2015 6,034,782 3.14 7.06 200,438 Granted 228,800 25.09 Exercised (1,230,923 ) 2.05 Forfeited or expired (46,971 ) 3.86 Outstanding as of March 31, 2016 4,985,688 4.41 6.75 103,375 Vested and expected to vest as of March 31, 2016 4,798,492 4.33 6.73 99,877 Exercisable as of March 31, 2016 3,099,118 2.88 5.65 68,974 The aggregate intrinsic value represents the total intrinsic value (the difference between the fair value of the Company’s common stock as of the last day of each period and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on the last day of each period. The total intrinsic value of options exercised during the nine months ended on March 31, 2016 (unaudited) was $27,602. The weighted average grant date fair values of options granted to employees and executive directors during the nine months ended March 31, 2016 (unaudited) was $25.09. The options outstanding as of March 31, 2016 (unaudited) have been separated into exercise price ranges as follows: Weighted Options Weighted Outstanding average exercisable average Range of as of remaining as of remaining exercise March 31, contractual March 31, contractual price 2016 life in years 2016 life in years $0.87 - $1.50 770,940 2.89 770,940 2.89 $1.68 - $2.46 1,465,040 5.49 1,408,292 5.46 $3.03 - $3.96 542,018 7.53 279,270 7.24 $5.01 1,945,562 8.66 602,296 8.66 $9.36 33,328 8.84 9,720 8.84 $25.09 228,800 9.39 28,600 9.39 4,985,688 6.75 3,099,118 5.65 e. A summary of the activity in the RSUs granted to employees and members of the board of directors for the nine months ended March 31, 2016 (unaudited), is as follows: No. of Options Weighted average grant date fair value Unvested as of July 1, 2015 67,440 25.09 Granted 807,656 24.45 Vested (112,591 ) 24.57 Forfeited (40,965 ) 24.07 Unvested as of March 31, 2016 721,540 24.38 f. Options and RSUs issued to non-employee consultants: The Company has granted options and RSUs to non-employee consultants as of March 31, 2016 (unaudited) as follows: Outstanding Exercisable as of as of Issuance March 31, Exercise March 31, Exercisable date 2016 price 2016 through July 31, 2008 33,333 0.87 33,333 July 31, 2018 October 24, 2012 5,166 2.46 4,333 October 24, 2022 January 23, 2013 3,333 3.03 2,778 January 23, 2023 January 27, 2014 4,698 3.51 2,226 January 27, 2024 May 1, 2014 6,000 3.51 3,167 May 1, 2024 September 17, 2014 10,830 3.96 4,790 September 17, 2024 October 29, 2014 5,788 5.01 1,010 October 29, 2024 August 19, 2015 28,167 0.00 - November 8, 2015 4,167 0.00 - 101,482 51,637 The Company had accounted for its options and RSUs granted to non-employee consultants under the fair value method of ASC 505-50. In connection with the grant of options and RSUs to non-employee consultants, the Company recorded stock compensation expenses in the three months ended March 31, 2016 (unaudited) and 2015 (unaudited) in the amounts $91, and $228, respectively, and stock compensation expenses in the nine months ended March 31, 2016 and 2015 in the amounts $464 and $331, respectively g. Stock-based compensation expense for employees and consultants: The Company recognized stock-based compensation expenses related to options and RSUs granted to employees and non-employees in the consolidated statement of operations for the three and six months ended on March 31, 2016 (unaudited) and 2015 (unaudited), as follows: Three months ended March 31, Nine months ended March 31, 2016 2015 2016 2015 Cost of revenues $ 246 $ 140 $ 635 $ 254 Research and development 724 183 1,637 449 Selling and marketing 842 292 2,207 545 General and administrative 819 355 2,210 502 Total stock-based compensation expense $ 2,631 $ 970 $ 6,689 $ 1,750 As of March 31, 2016 (unaudited), there was a total unrecognized compensation expense of $26,384 related to non-vested equity-based compensation arrangements granted under the Company’s plans. These expenses are expected to be recognized during the period from April 1, 2016 through February 29, 2020.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 10:- INCOME TAXES a. Taxes on income (tax benefit) are comprised as follows: Three months ended March 31, Nine months ended March 31, 2016 2015 2016 2015 Unaudited Unaudited Current year taxes $ 1,069 $ 398 $ 2,380 $ 1,146 Previous year taxes - - (216 ) - Deferred tax expense (income) (100 ) - (6,627 ) - Taxes on income (tax benefit) $ 969 $ 398 $ (4,463 ) $ 1,146 b. Deferred income taxes: Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax liabilities and assets are as follows: March 31, June 30, 2016 2015 (Unaudited) Assets in respect of: Carryforward tax losses $ - $ 23,033 Research and Development carryforward expenses- temporary differences 4,488 5,173 Stock-based compensation 548 - Other reserves 1,450 1,346 6,486 29,552 Valuation allowance (1) - (29,552 ) Net deferred tax assets $ 6,486 $ - (1) ASC 740 requires that deferred tax assets be reduced by a valuation allowance if it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company evaluated the net deferred tax assets for each separate tax entity. As of June 30, 2015, the Company concluded that it is not more likely than not that the net deferred tax assets will be realized and a full valuation allowance has been recorded against these assets. The Company's estimate of future book-taxable income considers available evidence, both positive and negative, about its operating businesses and investments, including an aggregation of individual projections for each significant operating business and investment, estimated apportionment factors for state and local taxing jurisdictions and includes all future years that the Company estimated it would have available net operating loss carryforwards. During the second fiscal quarter of 2016, the Company determined that the positive evidence outweighs the negative evidence for deferred tax assets and concluded that these deferred tax assets are realizable on a "more likely than not" basis. This determination was mainly due to expected future results of positive operations and earnings history.

BASIC AND DILUTED NET EARNINGS

BASIC AND DILUTED NET EARNINGS PER SHARE	9 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
BASIC AND DILUTED NET EARNINGS PER SHARE	NOTE 11:- BASIC AND DILUTED NET EARNINGS PER SHARE Basic net earnings per share is computed by dividing the net earnings by the weighted-average number of shares of common stock outstanding during the period. The total weighted average number of shares of common stock related to the outstanding stock options, convertible preferred stock and warrants to purchase convertible preferred stock and common stock, excluded from the calculation of diluted net earnings per share due to their anti-dilutive effect, was 0 and 28,351,707 for the three months ended March 31, 2016 (unaudited) and 2015 (unaudited), respectively and 12,945 and 27,378,784 for the nine months ended March 31, 2016 (unaudited) and 2015 (unaudited), respectively Basic and diluted earnings per share is presented in conformity with the two-class method for participating securities for the periods prior to their conversion. Under this method, the earnings per share for each class of shares are calculated assuming 100% of the Company's earnings are distributed as dividends to each class of shares based on their contractual rights. The following table presents the computation of basic and diluted net earnings per share for the periods presented: Three months ended March 31, Nine months ended March 31, 2016 2015 2016 2015 (unaudited) (unaudited) Numerator: Net income 20,799 5,965 59,336 11,860 Dividends accumulated for the period - (5,923 ) - (11,817 ) Net income available to holders of common stock 20,799 42 59,336 43 Denominator: Shares used in computing net earnings per share of common stock, basic 40,362,093 2,822,893 39,725,227 2,817,090 Numerator: Net income 20,799 5,965 59,336 11,860 Dividends accumulated for the period - (5,872 ) - (11,782 ) Net income available to holders of common stock 20,799 93 59,336 78 Denominator: Shares used in computing net earnings per share of common stock, diluted 44,577,901 7,099,046 44,347,071 5,534,903

CONCENTRATION OF CREDIT RISK AN

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS	9 Months Ended
	Mar. 31, 2016
Risks and Uncertainties [Abstract]
CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS	NOTE 12:- CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS a. For the three month period ended March 31, 2016 (unaudited), the Company had two major customers that accounted for approximately 26.7% of its consolidated revenues. For the nine month period ended March 31, 2016 (unaudited), the Company had three major customers that accounted for approximately 34.9% of its consolidated revenues. For the year ended June 30, 2015, the Company had one major customer that accounted for 24.6% of its consolidated revenues. b. As of March 31, 2016 (unaudited), three customers accounted for 38.5% of the Company’s net accounts receivable and as of June 30, 2015, one customer accounted for 30.0% of the Company’s net accounts receivable.

GENERAL (Tables)

GENERAL (Tables)	9 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Fair Value of Derivative Instruments	Fair Value of Derivative Instruments Balance Sheet Location As of March 31, 2016 (unaudited) As of June 30, 2015 Derivative Assets Foreign exchange forward contracts and put and call options Prepaid expenses and other accounts receivable (*) 849 859 Total 849 859
Schedule of Derivative Instruments Gains Recognized in OCI	Gains on Derivatives Recognized in OCI Gains on Derivatives Recognized in OCI for the three months ended for the nine months ended March 31, March 31, 2016 2015 2016 2015 (unaudited) (unaudited) Foreign exchange forward contracts and put and call options 668 - 745 - Gains Reclassified from OCI into Income Gains Reclassified from OCI into Income for the three months ended for the nine months ended March 31, March 31, 2016 2015 2016 2015 (unaudited) (unaudited) Foreign exchange forward contracts and put and call options 33 - 35 -
Schedule of Derivative Gains (Losses) Reclassified From OCI Into Income	Unrealized gains (losses) on available-for-sale marketable securities Unrealized gains (losses) on cash flow hedges Unrealized gains (losses) on foreign currency translation Total Beginning balance (81 ) 75 (287 ) (293 ) Other comprehensive income (loss) before reclassifications 87 668 (13 ) 742 Losses (gains) reclassified from accumulated other comprehensive income (loss) 1 (33 ) - (32 ) Net current period other comprehensive income (loss) 88 635 (13 ) 710 Ending balance 7 710 (300 ) 417 The following table summarizes the changes in accumulated balances of other comprehensive loss, net of taxes, for the nine months ended March 31, 2016 (unaudited): Unrealized gains (losses) on available-for-sale marketable securities Unrealized gains (losses) on cash flow hedges Unrealized gains (losses) on foreign currency translation Total Beginning balance - - (222 ) (222 ) Other comprehensive income (loss) before reclassifications 6 745 (78 ) 673 Losses (gains) reclassified from accumulated other comprehensive income (loss) 1 (35 ) - (34 ) Net current period other comprehensive income (loss) 7 710 (78 ) 639 Ending balance 7 710 (300 ) 417

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	9 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Summary of Available-For-Sale Marketable Securities	Amortized cost Gross unrealized gains Gross unrealized losses Fair value Corporate bonds $ 82,183 $ 55 $ 36 $ 82,202 Governmental bonds $ 5,015 $ 3 $ 10 $ 5,008 $ 87,198 $ 58 $ 46 $ 87,210
Summary of amortized cost of available-for-sale marketable securities	Amortized cost Gross unrealized gains Gross unrealized losses Fair value Due in one year or less $ 44,050 $ 21 $ 12 $ 44,059 Due after one year to two years $ 43,148 $ 37 $ 34 $ 43,151 $ 87,198 $ 58 $ 46 $ 87,210

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Schedule of inventories	March 31, 2016 June 30, 2015 (unaudited) Raw materials $ 10,639 $ 14,405 Finished goods 74,875 59,545 $ 85,514 $ 73,950

WARRANTY OBLIGATIONS (Tables)

WARRANTY OBLIGATIONS (Tables)	9 Months Ended
	Mar. 31, 2016
Product Warranties Disclosures [Abstract]
Schedule of warranty obligations	Nine months ended March 31, 2016 2015 (unaudited) Balance, at beginning of period $ 31,879 $ 18,181 Additions and adjustments to cost of revenues 21,250 13,456 Usage and current warranty expenses (6,470 ) (3,738 ) Balance, at end of period 46,659 27,899 Less current portion 13,510 7,661 Long term portion $ 33,149 $ 20,238

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value by level	Balance as of Fair value measurements Description March 31, 2016 (unaudited) Level 1 Level 2 Level 3 Cash equivalents: Money market mutual funds $ 17,520 $ 17,520 - - Derivative instruments asset $ 849 - $ 849 - Short-term marketable securities: Corporate bonds $ 43,055 - $ 43,055 - Governmental bonds $ 1,004 - $ 1,004 - Long-term marketable securities: Corporate bonds $ 39,147 - $ 39,147 - Governmental bonds $ 4,004 - $ 4,004 - The following table sets forth the Company’s assets that were measured at fair value as of June 30, 2015 by level within the fair value hierarchy: Balance as of Fair value measurements Description June 30, 2015 Level 1 Level 2 Level 3 Derivative instruments asset $ 859 - $ 859 -

COMMITMENTS AND CONTINGENT LI24

COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	9 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum lease commitments	Year ended June 30, (unaudited) 2016 598 2017 2,252 2018 2,148 2019 2,003 2020 and thereafter 8,707 15,708

STOCK CAPITAL (Tables)

STOCK CAPITAL (Tables)	9 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of composition of common stock capital	Authorized Issued and outstanding Number of shares March 31, 2016 June 30, 2015 March 31, 2016 June 30, 2015 (unaudited) (unaudited) Stock of $0.0001 par value: Common stock 125,000,000 125,000,000 40,684,496 39,297,539

STOCK CAPITAL (Tables)26

STOCK CAPITAL (Tables)	9 Months Ended
	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of recognized stock-based compensation expenses	Three months ended March 31, Nine months ended March 31, 2016 2015 2016 2015 Cost of revenues $ 246 $ 140 $ 635 $ 254 Research and development 724 183 1,637 449 Selling and marketing 842 292 2,207 545 General and administrative 819 355 2,210 502 Total stock-based compensation expense $ 2,631 $ 970 $ 6,689 $ 1,750
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of the activity in the share options	No. of Options Weighted average grant date fair value Unvested as of July 1, 2015 67,440 25.09 Granted 807,656 24.45 Vested (112,591 ) 24.57 Forfeited (40,965 ) 24.07 Unvested as of March 31, 2016 721,540 24.38
Schedule of exercise price range of options	Outstanding Exercisable as of as of Issuance March 31, Exercise March 31, Exercisable date 2016 price 2016 through July 31, 2008 33,333 0.87 33,333 July 31, 2018 October 24, 2012 5,166 2.46 4,333 October 24, 2022 January 23, 2013 3,333 3.03 2,778 January 23, 2023 January 27, 2014 4,698 3.51 2,226 January 27, 2024 May 1, 2014 6,000 3.51 3,167 May 1, 2024 September 17, 2014 10,830 3.96 4,790 September 17, 2024 October 29, 2014 5,788 5.01 1,010 October 29, 2024 August 19, 2015 28,167 0.00 - November 8, 2015 4,167 0.00 - 101,482 51,637
Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of the activity in the share options	Weighted average Weighted remaining Number average contractual Aggregate of exercise term intrinsic Options price in years value Outstanding as of July 1, 2015 6,034,782 3.14 7.06 200,438 Granted 228,800 25.09 Exercised (1,230,923 ) 2.05 Forfeited or expired (46,971 ) 3.86 Outstanding as of March 31, 2016 4,985,688 4.41 6.75 103,375 Vested and expected to vest as of March 31, 2016 4,798,492 4.33 6.73 99,877 Exercisable as of March 31, 2016 3,099,118 2.88 5.65 68,974
Schedule of exercise price range of options	Weighted Options Weighted Outstanding average exercisable average Range of as of remaining as of remaining exercise March 31, contractual March 31, contractual price 2016 life in years 2016 life in years $0.87 - $1.50 770,940 2.89 770,940 2.89 $1.68 - $2.46 1,465,040 5.49 1,408,292 5.46 $3.03 - $3.96 542,018 7.53 279,270 7.24 $5.01 1,945,562 8.66 602,296 8.66 $9.36 33,328 8.84 9,720 8.84 $25.09 228,800 9.39 28,600 9.39 4,985,688 6.75 3,099,118 5.65

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of taxes on income	Three months ended March 31, Nine months ended March 31, 2016 2015 2016 2015 Unaudited Unaudited Current year taxes $ 1,069 $ 398 $ 2,380 $ 1,146 Previous year taxes - - (216 ) - Deferred tax expense (income) (100 ) - (6,627 ) - Taxes on income (tax benefit) $ 969 $ 398 $ (4,463 ) $ 1,146
Schedule of deferred tax liabilities and assets	March 31, June 30, 2016 2015 (Unaudited) Assets in respect of: Carryforward tax losses $ - $ 23,033 Research and Development carryforward expenses- temporary differences 4,488 5,173 Stock-based compensation 548 - Other reserves 1,450 1,346 6,486 29,552 Valuation allowance (1) - (29,552 ) Net deferred tax assets $ 6,486 $ -

BASIC AND DILUTED NET EARNING28

BASIC AND DILUTED NET EARNINGS PER SHARE (Tables)	9 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted net earnings (loss) per share	Three months ended March 31, Nine months ended March 31, 2016 2015 2016 2015 (unaudited) (unaudited) Numerator: Net income 20,799 5,965 59,336 11,860 Dividends accumulated for the period - (5,923 ) - (11,817 ) Net income available to holders of common stock 20,799 42 59,336 43 Denominator: Shares used in computing net earnings per share of common stock, basic 40,362,093 2,822,893 39,725,227 2,817,090 Numerator: Net income 20,799 5,965 59,336 11,860 Dividends accumulated for the period - (5,872 ) - (11,782 ) Net income available to holders of common stock 20,799 93 59,336 78 Denominator: Shares used in computing net earnings per share of common stock, diluted 44,577,901 7,099,046 44,347,071 5,534,903

GENERAL (Details)

GENERAL (Details) $ in Thousands		1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
		Jul. 31, 2015USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Mar. 31, 2016USD ($)item	Mar. 31, 2015USD ($)	Jun. 30, 2015USD ($)
Organization Consolidation and Presentation of Financial Statements [Line Items]
Number of contract manufacturers | item					2
Number of vendors | item					2
Derivative financial instruments
Notional amount of derivative contract			$ 19,547		$ 19,547
Fair value of derivative assets current			854		854
Fair value of derivative liabilities current			5		5
Net derivative assets			849		849		$ 859
Prepaid expenses and other accounts receivable			18,613		18,613		32,645
Loss from hedging transactions recorded in general and administrative expenses			8		8
Loss from hedging transactions recorded in research and development expenses			18		18
Loss from hedging transactions recorded in sales and marketing expenses			11		11
Foreign exchange forward contracts	[1]		849		849		$ 859
Changes in unrealized gains, net of tax expense			668		745
Consideration paid for patents		$ 800			$ 800
Useful lives of patents					10 years
Amortization expenses			$ 21		$ 63
Accounts Payable [Member]
Organization Consolidation and Presentation of Financial Statements [Line Items]
Concentration risk (as a percent)					73.00%		79.00%
[1]	Estimated to be reclassified into earnings during 2016.

GENERAL (Changes in Accumulated

GENERAL (Changes in Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Beginning balance	$ (293)		$ (222)
Other comprehensive income (loss) before reclassifications	742		673
Losses (gains) reclassified from accumulated other comprehensive income (loss)	(32)		(34)
Net current period other comprehensive income (loss)	710	$ (102)	639	$ (202)
Ending balance	417		$ 417
Unrealized gains (losses) on available-for-sale marketable securities [Member]
Beginning balance	(81)
Other comprehensive income (loss) before reclassifications	87		$ 6
Losses (gains) reclassified from accumulated other comprehensive income (loss)	1		1
Net current period other comprehensive income (loss)	88		7
Ending balance	7		$ 7
Unrealized gains (losses) on cash flow hedges [Member]
Beginning balance	75
Other comprehensive income (loss) before reclassifications	668		$ 745
Losses (gains) reclassified from accumulated other comprehensive income (loss)	(33)		(35)
Net current period other comprehensive income (loss)	635		710
Ending balance	710		710
Unrealized gains (losses) on foreign currency translation [Member]
Beginning balance	(287)		(222)
Other comprehensive income (loss) before reclassifications	$ (13)		$ (78)
Losses (gains) reclassified from accumulated other comprehensive income (loss)
Net current period other comprehensive income (loss)	$ (13)		$ (78)
Ending balance	$ (300)		$ (300)

MARKETABLE SECURITIES (Details)

MARKETABLE SECURITIES (Details) $ in Thousands	Mar. 31, 2016USD ($)item
Schedule of Available-for-sale Securities [Line Items]
Due in one year or less, amortized cost	$ 44,050
Due in one year or less, gross unrealized gains	21
Due in one year or less, gross unrealized losses	12
Due in one year or less, fair value	44,059
Due after one year to two years, amortized cost	43,148
Due after one year to two years, gross unrealized gains	37
Due after one year to two years, gross unrealized losses	34
Due after one year to two years, fair value	43,151
Amortized cost	87,198
Gross unrealized gains	58
Gross unrealized losses	46
Fair value	$ 87,210
Number of loss positions | item	32
Corporate Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 82,183
Gross unrealized gains	55
Gross unrealized losses	36
Fair value	82,202
Governmental bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	5,015
Gross unrealized gains	3
Gross unrealized losses	10
Fair value	$ 5,008

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 10,639	$ 14,405
Finished goods	74,875	59,545
Inventories	$ 85,514	$ 73,950

WARRANTY OBLIGATIONS (Details)

WARRANTY OBLIGATIONS (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Jun. 30, 2015
Changes in the Company's product warranty liability
Balance, at beginning of period	$ 31,879	$ 18,181
Additions and adjustments to cost of revenues	21,250	13,456
Usage and current warranty expenses	(6,470)	(3,738)
Balance, at end of period	46,659	27,899
Less current portion	13,510	7,661	$ 9,431
Long term portion	$ 33,149	$ 20,238	$ 22,448

REVOLVING CREDIT LINE (Details)

REVOLVING CREDIT LINE (Details) - Revolving Credit Line [Member] - USD ($) $ in Thousands	Feb. 17, 2015	Mar. 31, 2016
Line of Credit Facility [Line Items]
Aggregate borrowings	$ 40,000
Maximum specified percentage of eligible trade receivables considered for determining maximum borrowing capacity	80.00%
Description of variable rate basis		Bank Lender's prime rate
Termination date	Dec. 31, 2016
Amount of liquidity need to maintain	$ 6,750
Minimum [Member]
Line of Credit Facility [Line Items]
Applicable margin (as a percent)	0.50%
Maximum [Member]
Line of Credit Facility [Line Items]
Applicable margin (as a percent)	2.00%

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	$ 17,520
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	17,520
Derivative Financial Instruments, Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	849	$ 859
Derivative Financial Instruments, Assets [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	849	$ 859
Short Term Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	43,055
Short Term Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	43,055
Short Term Governmental Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	1,004
Short Term Governmental Bonds [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	1,004
Long Term Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	39,147
Long Term Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	39,147
Long Term Governmental Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	4,004
Long Term Governmental Bonds [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	$ 4,004

LEASE INCENTIVE OBLIGATION (Det

LEASE INCENTIVE OBLIGATION (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Leases [Abstract]
Operating lease receivable	$ 2,938
Received in cash from the Lessor	2,917
Lease incentive obligation	$ 2,265	$ 2,385

COMMITMENTS AND CONTINGENT LI37

COMMITMENTS AND CONTINGENT LIABILITIES (Schedule of Future Minimum Lease Commitments) (Details) $ in Thousands	Mar. 31, 2016USD ($)
Future minimum lease commitments
2,016	$ 598
2,017	2,252
2,018	2,148
2,019	2,003
2020 and thereafter	8,707
Future minimum lease commitments amount	$ 15,708

COMMITMENTS AND CONTINGENT LI38

COMMITMENTS AND CONTINGENT LIABILITIES (Narrative) (Lease commitments) (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Lease commitments
Contract term	10 years
Rent expenses	$ 1,653	$ 1,222

COMMITMENTS AND CONTINGENT LI39

COMMITMENTS AND CONTINGENT LIABILITIES (Narrative) (Guarantees) (Details) $ in Thousands	Mar. 31, 2016USD ($)
Office Rent Lease Agreements [Member]
Guarantor Obligations [Line Items]
Guarantees amount	$ 631
Customs Transactions [Member]
Guarantor Obligations [Line Items]
Guarantees amount	53
Credit Card Limits [Member]
Guarantor Obligations [Line Items]
Guarantees amount	$ 85

COMMITMENTS AND CONTINGENT LI40

COMMITMENTS AND CONTINGENT LIABILITIES (Narrative) (Royalty, Governmental, and Contractual purchase obligations) (Details) $ in Thousands	Mar. 31, 2016USD ($)
Royalty commitments
Aggregate contingent liability to the BIRD-F amount	$ 1,132
Governmental commitments
Governmental commitments amount	782
Contractual purchase obligations
Non-cancelable purchase obligations	84,275
Provision for contractual inventory purchase obligations	$ 1,860

STOCK CAPITAL (Common Stock) (D

STOCK CAPITAL (Common Stock) (Details)	9 Months Ended
	Mar. 31, 2016$ / sharesshares	Jun. 30, 2015$ / sharesshares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Reverse stock split ratio	0.33
Common stock capital
Par value | $ / shares	$ 0.0001	$ 0.0001
Authorized	125,000,000	125,000,000
Common stock, issued shares	40,684,496	39,297,539
Common stock, outstanding shares	40,684,496	39,297,539

STOCK CAPITAL (Stock option pla

STOCK CAPITAL (Stock option plans) (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2014	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of options exercised		$ 27,602
Unrecognized compensation expense		$ 26,384
2007 Plan, Transferred to 2015 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options are available for future grant under the plan		379,358
2015 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options reserved for issuance under the plan		3,827,117
Percentage of common shares increase automatically in each year		5.00%
2015 Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of common shares increase automatically in each year	5.00%
Option [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options are available for future grant under the plan		10,000,000
Employee Stock Purchase Plan [Member] | 2015 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options are available for future grant under the plan		2,731,852
Options And RSUs [Member] | Employees and Members of Board of Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair values options granted to employees and executive directors		$ 25.09
Restricted Stock Units (RSUs) [Member] | Employees and Members of Board of Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair values options granted to employees and executive directors		$ 24.45

STOCK CAPITAL (Summary of activ

STOCK CAPITAL (Summary of activity in the share options) (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Mar. 31, 2016	Jun. 30, 2015
Aggregate intrinsic Value
Exercised	$ 27,602
Option [Member] | Employees and Members of Board of Directors [Member]
Number of options
Outstanding as of July 1, 2015	6,034,782
Granted	228,800
Exercised	(1,230,923)
Forfeited or expired	46,971
Outstanding as of March 31, 2016	4,985,688	6,034,782
Weighted average exercise price
Outstanding as of July 1, 2015	$ 3.14
Granted	25.09
Exercised	2.05
Forfeited or expired	3.86
Outstanding as of March 31, 2016	$ 4.41	$ 3.14
Weighted average remaining contractual term in years
Outstanding	6 years 9 months	7 years 22 days
Aggregate intrinsic Value
Outstanding as of July 1, 2015	$ 200,438
Outstanding as of March 31, 2016	$ 103,375	$ 200,438
Vested and expected to vest at the end of the period
Number of options	4,798,492
Weighted average exercise price	$ 4.33
Weighted average remaining contractual term in years	6 years 8 months 23 days
Aggregate intrinsic Value	$ 99,877
Exercisable as of March 31, 2016
Weighted average exercise price	$ 2.88
Weighted average remaining contractual term in years	5 years 7 months 24 days
Aggregate intrinsic Value	$ 68,974

STOCK CAPITAL (Schedule of exer

STOCK CAPITAL (Schedule of exercise price ranges) (Details) - Employees and Members of Board of Directors [Member]	9 Months Ended
	Mar. 31, 2016$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Outstanding	4,985,688
Weighted average remaining contractual Life in years	6 years 9 months
Exercisable	3,099,118
Weighted average remaining contractual Life in years	5 years 7 months 24 days
$0.50 - $1.50 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise price, lower | $ / shares	$ 0.87
Range of exercise price, upper | $ / shares	$ 1.50
Outstanding	770,940
Weighted average remaining contractual Life in years	2 years 10 months 21 days
Exercisable	770,940
Weighted average remaining contractual Life in years	2 years 10 months 21 days
$1.68 - $2.46 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise price, lower | $ / shares	$ 1.68
Range of exercise price, upper | $ / shares	$ 2.46
Outstanding	1,465,040
Weighted average remaining contractual Life in years	5 years 5 months 27 days
Exercisable	1,408,292
Weighted average remaining contractual Life in years	5 years 5 months 16 days
$3.03 - $3.96 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise price, lower | $ / shares	$ 3.03
Range of exercise price, upper | $ / shares	$ 3.96
Outstanding	542,018
Weighted average remaining contractual Life in years	7 years 6 months 11 days
Exercisable	279,270
Weighted average remaining contractual Life in years	7 years 2 months 27 days
$5.01 - $5.04 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise price | $ / shares	$ 5.01
Outstanding	1,945,562
Weighted average remaining contractual Life in years	8 years 7 months 28 days
Exercisable	602,296
Weighted average remaining contractual Life in years	8 years 7 months 28 days
$9.36 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise price | $ / shares	$ 9.36
Outstanding	33,328
Weighted average remaining contractual Life in years	8 years 10 months 2 days
Exercisable	9,720
Weighted average remaining contractual Life in years	8 years 10 months 2 days
$25.09 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise price | $ / shares	$ 25.09
Outstanding	228,800
Weighted average remaining contractual Life in years	9 years 4 months 21 days
Exercisable	28,600
Weighted average remaining contractual Life in years	9 years 4 months 21 days

STOCK CAPITAL (Summary of the a

STOCK CAPITAL (Summary of the activity in the RSUs) (Details) - Restricted Stock Units (RSUs) [Member] - Employees and Members of Board of Directors [Member]	9 Months Ended
	Mar. 31, 2016$ / sharesshares
No. of Options
Unvested as of July 1, 2015 | shares	67,440
Granted | shares	807,656
Vested | shares	(112,591)
Forfeited | shares	(40,965)
Unvested as of March 31, 2016 | shares	721,540
Weighted average grant date fair value
Unvested as of July 1, 2015 | $ / shares	$ 25.09
Granted | $ / shares	24.45
Vested | $ / shares	24.57
Forfeited | $ / shares	24.07
Unvested as of March 31, 2016 | $ / shares	$ 24.38

STOCK CAPITAL (Options and RSUs

STOCK CAPITAL (Options and RSUs issued to non-employee consultants) (Details) - Options And RSUs [Member] - Nonemployee Consultants [Member]	Mar. 31, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	101,482
Exercisable at the end of the period	51,637
July 31, 2008 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	33,333
Exercise price | $ / shares	$ 0.87
Exercisable at the end of the period	33,333
October 24, 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	5,166
Exercise price | $ / shares	$ 2.46
Exercisable at the end of the period	4,333
January 23, 2013 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	3,333
Exercise price | $ / shares	$ 3.03
Exercisable at the end of the period	2,778
January 27, 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	4,698
Exercise price | $ / shares	$ 3.51
Exercisable at the end of the period	2,226
May 1, 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	6,000
Exercise price | $ / shares	$ 3.51
Exercisable at the end of the period	3,167
September 17, 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	10,830
Exercise price | $ / shares	$ 3.96
Exercisable at the end of the period	4,790
October 29, 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	5,788
Exercise price | $ / shares	$ 5.01
Exercisable at the end of the period	1,010
August 19, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	28,167
Exercise price | $ / shares	$ 0
Exercisable at the end of the period
November 8, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	4,167
Exercise price | $ / shares	$ 0
Exercisable at the end of the period

STOCK CAPITAL (Schedule of stoc

STOCK CAPITAL (Schedule of stock-based compensation expense for employees and consultants) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 2,631	$ 970	$ 6,689	$ 1,750
Nonemployee Consultants [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	91	228	464	331
Cost of revenues [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	246	140	635	254
Research and development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	724	183	1,637	449
Selling and marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	842	292	2,207	545
General and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 819	$ 355	$ 2,210	$ 502

INCOME TAXES (Schedule of Taxes

INCOME TAXES (Schedule of Taxes on Income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Current year taxes	$ 1,069	$ 398	$ 2,380	$ 1,146
Previous year taxes			(216)
Deferred tax expense (income)	$ (100)		(6,627)
Taxes on income (tax benefit)	$ 969	$ 398	$ (4,463)	$ 1,146

INCOME TAXES (Schedule of Defer

INCOME TAXES (Schedule of Deferred Tax Liabilities And Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Jun. 30, 2015
Assets in respect of:
Carryforward tax losses		$ 23,033
Research and Development carryforward expenses- temporary differences	$ 4,488	$ 5,173
Stock-based compensation	548
Other reserves	1,450	$ 1,346
Deferred tax assets, gross	$ 6,486	29,552
Valuation allowance		$ (29,552)
Net deferred tax assets	$ 6,486

BASIC AND DILUTED NET EARNING50

BASIC AND DILUTED NET EARNINGS PER SHARE (Narrative) (Details) - shares	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Total weighted average number of shares related to the outstanding stock options, convertible preferred stock and warrants to purchase convertible preferred stock and common stock, excluded from the calculation of diluted net earnings (loss) per share due to their anti-dilutive effect	0	28,351,707	12,945	27,378,784

BASIC AND DILUTED NET EARNING51

BASIC AND DILUTED NET EARNINGS PER SHARE (Schedule of Computation of Basic and Diluted Net Earnings (Loss) Per Share) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Numerator:
Net income	$ 20,799	$ 5,965	$ 59,336	$ 11,860
Dividends accumulated for the period		(5,923)		(11,817)
Net income available to holders of common stock	$ 20,799	$ 42	$ 59,336	$ 43
Denominator:
Shares used in computing net earnings (loss) per share of common stock, basic (in shares)	40,362,093	2,822,893	39,725,227	2,817,090
Numerator:
Net income	$ 20,799	$ 5,965	$ 59,336	$ 11,860
Dividends accumulated for the period		(5,872)		(11,782)
Net income available to holders of common stock	$ 20,799	$ 93	$ 59,336	$ 78
Denominator:
Shares used in computing net earnings per share of common stock, diluted	44,577,901	7,099,046	44,347,071	5,534,903

CONCENTRATION OF CREDIT RISK 52

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS (Details)	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2016	Jun. 30, 2015
Revenues [Member] | Customer One [Member]
Concentration Risk [Line Items]
Concentration risk (as a percent)	26.70%	34.90%
Revenues [Member] | Customer Two [Member]
Concentration Risk [Line Items]
Concentration risk (as a percent)	26.70%	34.90%
Revenues [Member] | Customer Three [Member]
Concentration Risk [Line Items]
Concentration risk (as a percent)	26.70%
Revenues [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration risk (as a percent)			24.60%
Accounts Receivable [Member] | Customer One [Member]
Concentration Risk [Line Items]
Concentration risk (as a percent)		38.50%
Accounts Receivable [Member] | Customer Two [Member]
Concentration Risk [Line Items]
Concentration risk (as a percent)		38.50%
Accounts Receivable [Member] | Customer Three [Member]
Concentration Risk [Line Items]
Concentration risk (as a percent)		38.50%
Accounts Receivable [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration risk (as a percent)			30.00%