CyberArk Software (CYBR) 20-F 16 Mar 17 2016 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2016shares
Document And Entity Information [Abstract]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Trading Symbol	CYBR
Entity Registrant Name	CyberArk Software Ltd.
Entity Central Index Key	1,598,110
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	34,250,590

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 172,957	$ 234,539
Short-term bank deposits	86,829	3,713
Marketable securities	15,246
Trade receivables	33,330	20,410
Prepaid expenses and other current assets	4,804	3,293
Total current assets	313,166	261,955
LONG-TERM ASSETS:
Property and equipment, net	4,760	3,584
Intangible assets, net	14,035	18,558
Goodwill	35,145	35,145
Marketable securities	20,443
Severance pay fund	3,332	3,230
Prepaid expenses and other long-term assets	1,761	1,954
Deferred tax assets	10,389	9,998
Total long-term assets	89,865	72,469
TOTAL ASSETS	403,031	334,424
CURRENT LIABILITIES:
Trade payables	2,699	2,530
Employees and payroll accruals	18,470	15,860
Accrued expenses and other current liabilities	6,876	9,366
Deferred revenues	50,111	37,104
Total current liabilities	78,156	64,860
LONG-TERM LIABILITIES:
Deferred revenues	23,395	17,285
Other long-term liabilities	229	188
Accrued severance pay	5,035	4,667
Deferred tax liabilities		754
Total long-term liabilities	28,659	22,894
TOTAL LIABILITIES	106,815	87,754
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:
Ordinary shares of NIS 0.01 par value - Authorized: 250,000,000 shares at December 31, 2015 and 2016; Issued and outstanding: 33,289,839 shares and 34,250,590 shares at December 31, 2015 and 2016, respectively;	88	86
Additional paid-in capital	221,609	200,107
Accumulated other comprehensive loss	(175)	(93)
Retained earnings	74,694	46,570
Total shareholders' equity	296,216	246,670
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 403,031	$ 334,424

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - ₪ / shares	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Ordinary shares, par value	₪ 0.01	₪ 0.01
Ordinary shares, authorized	250,000,000	250,000,000
Ordinary shares, issued	34,250,590	33,289,839
Ordinary shares, outstanding	34,250,590	33,289,839

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues:
License	$ 131,530	$ 100,113	$ 61,320
Maintenance and professional services	85,083	60,699	41,679
Revenues	216,613	160,812	102,999
Cost of revenues:
License	4,726	5,088	2,654
Maintenance and professional services	25,425	17,572	12,053
Cost of revenues	30,151	22,660	14,707
Gross profit	186,462	138,152	88,292
Operating expenses:
Research and development	34,614	21,734	14,400
Sales and marketing	93,775	66,206	44,943
General and administrative	22,117	16,990	8,495
Total operating expenses	150,506	104,930	67,838
Operating income	35,956	33,222	20,454
Financial income (expenses), net	245	(1,479)	(5,988)
Income before taxes on income	36,201	31,743	14,466
Taxes on income	(8,077)	(5,949)	(4,512)
Net income	$ 28,124	$ 25,794	$ 9,954
Basic net income per ordinary share	$ 0.83	$ 0.80	$ 0.46
Diluted net income per ordinary share	$ 0.78	$ 0.73	$ 0.34
Change in unrealized losses on marketable securities:
Unrealized loss arising during the year	$ (141)
Change in unrealized losses on marketable securities, total	(141)
Change in unrealized gain (loss) on cash flow hedges:
Unrealized gain (loss) arising during the period	249	1	(575)
Loss (gain) reclassified into earnings	(190)	239	87
Other comprehensive income (loss), net of taxes of $93, $(46) and $16 for the years 2014, 2015 and 2016, respectively	(82)	240	(488)
Total comprehensive income	$ 28,042	$ 26,034	$ 9,466

CONSOLIDATED STATEMENTS OF COM5

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
Other comprehensive income (loss), tax	$ 16	$ (46)	$ 93

STATEMENTS OF CHANGES IN SHAREH

STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Preferred Shares [Member]	Ordinary Shares [Member]	Additional paid-in capital [Member]	Accumulated other comprehensive income (loss) [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2013	$ 41	$ 17	$ 34,811	$ 155	$ 10,822	$ 45,846
Balance, shares at Dec. 31, 2013	15,958,290	7,019,352
Exercise of options and vested RSU's granted to employees		$ 1	189			190
Exercise of options and vested RSU's granted to employees, shares		255,562
Other comprehensive income (loss), net of tax				(488)		(488)
Share-based compensation expense			1,573			1,573
Exercise of warrants for preferred shares	$ 1		7,194			7,195
Exercise of warrants for preferred shares, shares	493,360
Conversion of preferred shares	$ (42)	$ 44	(2)
Conversion of preferred shares, shares	(16,451,650)	17,062,438
Issuance of ordinary shares upon public offering, net		$ 17	88,451			88,468
Issuance of ordinary shares upon public offering, net, shares		6,164,000
Tax benefit related to share-based compensation and issuance expenses			2,270			2,270
Net income					9,954	9,954
Balance at Dec. 31, 2014		$ 79	134,486	(333)	20,776	155,008
Balance, shares at Dec. 31, 2014		30,501,352
Exercise of options and vested RSU's granted to employees		$ 5	1,819			1,824
Exercise of options and vested RSU's granted to employees, shares		1,888,487
Other comprehensive income (loss), net of tax				240		240
Share-based compensation expense			7,049			7,049
Issuance of ordinary shares upon public offering, net		$ 2	52,573			52,575
Issuance of ordinary shares upon public offering, net, shares		900,000
Tax benefit related to share-based compensation and issuance expenses			4,180			4,180
Net income					25,794	25,794
Balance at Dec. 31, 2015		$ 86	200,107	(93)	46,570	246,670
Balance, shares at Dec. 31, 2015		33,289,839
Exercise of options and vested RSU's granted to employees		$ 2	2,501			2,503
Exercise of options and vested RSU's granted to employees, shares		960,751
Other comprehensive income (loss), net of tax				(82)		(82)
Share-based compensation expense			17,535			17,535
Tax benefit related to share-based compensation			1,466			1,466
Net income					28,124	28,124
Balance at Dec. 31, 2016		$ 88	$ 221,609	$ (175)	$ 74,694	$ 296,216
Balance, shares at Dec. 31, 2016		34,250,590

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net income	$ 28,124	$ 25,794	$ 9,954
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	6,488	2,254	746
Share-based compensation expense	17,535	7,049	1,573
Amortization of premium on marketable securities	275
Tax benefit related to share-based compensation	(1,466)	(3,808)	(645)
Deferred income taxes, net	(1,130)	(4,093)	45
Increase in trade receivables	(12,920)	(187)	(6,535)
Increase in prepaid expenses and other current and long-term assets	(1,485)	(1,183)	(159)
Increase (decrease) in trade payables	(177)	322	(145)
Changes in fair value of warrants to purchase preferred shares			4,309
Increase in short term and long term deferred revenues	19,117	21,254	7,682
Increase in employees and payroll accruals	2,610	5,011	3,501
Increase (decrease) in accrued expenses and other current and long-term liabilities	(927)	6,353	2,827
Increase in accrued severance pay, net	266	394	42
Net cash provided by operating activities	56,310	59,160	23,195
Cash flows from investing activities:
Proceeds from short and long term deposits		49,329	2,533
Investment in short and long term deposits	(82,940)	(619)	(52,570)
Investment in marketable securities	(40,433)
Proceeds from maturities of marketable securities	4,307
Purchase of property and equipment	(2,795)	(2,066)	(1,408)
Payments for business acquisitions, net of cash acquired (Schedule A)		(53,656)
Net cash used in investing activities	(121,861)	(7,012)	(51,445)
Cash flows from financing activities:
Issuance of shares, net		52,575	88,468
Tax benefit related to share-based compensation	1,466	3,808	645
Proceeds from exercise of stock options and warrants	2,503	1,824	942
Net cash provided by financing activities	3,969	58,207	90,055
Increase (decrease) in cash and cash equivalents	(61,582)	110,355	61,805
Cash and cash equivalents at the beginning of the year	234,539	124,184	62,379
Cash and cash equivalents at the end of the year	172,957	234,539	124,184
Non-cash activities:
Purchase of property and equipment on credit	683	338	304
Supplemental disclosure of cash flow activities:
Cash paid during the year for taxes	$ 10,577	$ 4,760	$ 981

CONSOLIDATED STATEMENTS OF CAS8

CONSOLIDATED STATEMENTS OF CASH FLOWS (Schedule A - payments for business acquired) $ in Thousands	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Goodwill	$ 35,145
ViewFinity [Member]
Business Acquisition [Line Items]
Working capital, net (excluding cash and cash equivalents)	497
Property and equipment, net	124
Other long-term assets	62
Goodwill	20,765
Other intangible assets	9,990
Deferred revenues	(931)
Total	30,507
Cybertinel [Member]
Business Acquisition [Line Items]
Working capital, net (excluding cash and cash equivalents)	(245)
Property and equipment, net	340
Other long-term assets	34
Goodwill	13,201
Other intangible assets	7,760
Deferred tax	(1,009)
Deferred revenues	(44)
Total	20,037
Agata [Member]
Business Acquisition [Line Items]
Goodwill	1,179
Other intangible assets	1,933
Total	$ 3,112

GENERAL

GENERAL	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	NOTE 1: GENERAL a. CyberArk Software Ltd. (together with its subsidiaries, the “ ” b. In September 2014, the Company completed its initial public offering ( “ ” c. In March 2015, the Company completed a public offering in which certain shareholders sold 4,600,000 ordinary shares ( at a public offering price of $51.00 per share. The Company did not receive any proceeds from the sale of ordinary shares by the selling shareholders and the related offering expenses were recorded d. In June 2015, the Company completed an additional public offering in which the Company issued and sold 900,000 ordinary shares at a public offering price of $61.00 per share. e. In August 2015, the Company acquired all of the share capital of Cybertinel Ltd. (“Cybertinel”) for total consideration of $20,515. Cybertinel, an Israeli company, specializes in cyber threat detection technology. In September 2015, the Company acquired certain assets of Agata Ltd “ ”) for total consideration of $3,112 In October 2015, the Company acquired all of the share capital of Viewfinity, Inc. (“Viewfinity”) for total consideration of $30,500. Viewfinity is a provider of Windows least privilege management and application control. f. Unaudited pro forma results of operations: The following table presents unaudited pro forma revenue, net income and basic and diluted net income (loss) for periods presented assuming the acquisitions of Cybertinel, Viewfinity and Agata occurred on January 1, 2014. The pro forma information is not necessarily indicative of the results of operations, which actually would have occurred had the acquisitions been consummated on those dates, nor does it purport to represent the results of operations for future periods: December 31, 2014 2015 Pro forma revenue $ 108,517 $ 165,924 Pro forma net income $ 76 $ 18,725 Basic net income (loss) per ordinary share $ (0.28 ) $ 0.58 Diluted net income (loss) per ordinary share $ (0.28 ) $ 0.53

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2: SIGNIFICANT ACCOUNTING POLICIES The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ( “ ”) a. Use of estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company evaluates on an ongoing basis its assumptions, including those related to contingencies, income taxes, deferred taxes, share-based compensation, value of intangible assets and goodwill as well as in estimates used in applying the revenue recognition policy. The Company's management believes that the estimates, judgment and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates . b. Principles of consolidation: The consolidated financial statements include the accounts of CyberArk Software Ltd. and its wholly-owned subsidiaries. Intercompany transactions and balances, have been eliminated upon consolidation. c. Financial statements in U.S. dollars: A majority of the Company's revenues are generated in U.S. dollars. In addition, the equity investments were in U.S. dollars and a substantial portion of the Company's costs are incurred in U.S. dollars and New Israeli Shekels ( “ ”) Accordingly, monetary accounts maintained in currencies other than the U.S. dollar are re-measured into U.S. dollars in accordance with Statement of the Accounting Standard Codification ("ASC " " The functional currency of the Company's foreign d. Cash and cash equivalents: Cash equivalents are short-term highly liquid deposits that are readily convertible to cash with original maturities of three months or less, at the date acquired. e. Short-term bank deposits: Short-term bank deposits are deposits with maturities of up to one year. As of December 31, 2015 and 2016, the Company's bank deposits are denominated in U.S. dollars, Euros and NIS and bear interest at weighted average deposits rates of 0.4% and 1.26%, respectively. Short-term bank deposits are presented at their cost, including accrued interest. A portion of these deposits is used as security for the rental of premises and as a security for the Company's hedging activities. f. Investments in marketable securities: The Company accounts for investments in marketable securities in accordance with ASC No. 320, “ ” The Company's securities are reviewed for impairment in accordance with ASC 320-10-35. If such assets are considered to be impaired, the impairment charge is recognized in earnings when a decline in the fair value of its investments below the cost basis is judged to be Other-Than-Temporary Impairment (OTTI). 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. Based on the above factors, the Company concluded that unrealized losses on its available-for-sale securities, for the year ended December 31, 2016 were not OTTI. g. Property and equipment: Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets at the following annual rates: % Computers and related equipment 25 - 33 Office furniture and equipment 7 - 20 Leasehold improvements Over the shorter of the related lease period or the life of the asset h. Long-lived assets: The long-lived assets of the Company are reviewed for impairment in accordance with ASC No. 360, “ ” “ ” i. Business Combination: The Company accounts for its business acquisitions in accordance with Accounting Standards Codification ASC No. 805, “ ” j. Goodwill and other intangible assets: Goodwill and certain other purchased intangible assets have been recorded in the Company's financial statements as a result of acquisitions. Goodwill represents excess of the costs over the net tangible and intangible assets acquired of businesses acquired under ASC No. 350, “ ” “ ” ASC 350 requires goodwill to be tested for impairment at least annually and, in certain circumstances, between annual tests. The Company operates as one reporting unit. Therefore, goodwill is tested for impairment by comparing the fair value of the reporting unit with its carrying value. The Company elects to perform an annual impairment test of goodwill as of October 1 of each year, or more frequently if impairment indicators are present. Purchased intangible assets with finite lives are carried at cost, less accumulated amortization. Amortization is computed over the estimated useful lives of the respective assets which range from one to 13 years. Acquired customer relationship and backlog are amortized over their estimated useful lives in proportion to the economic benefits realized. Other intangible assets consist primarily of technology are amortized over their estimated useful lives on a straight-line basis. For the years ended December 31, 2015 and 2016, no impairment losses were identified. k. Derivative instruments: ASC No. 815, “ ” For those derivative instruments that are designated and qualify as hedging instruments, a company must designate the hedging instrument, based upon the exposure being hedged, as a fair value hedge, cash flow hedge or a hedge of a net investment in a foreign operation. 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. The remaining gain or loss on the derivative instrument in excess of the cumulative change in the present value of future cash flows of the hedged item, if any, is recognized in current earnings during the period of change. To hedge against the risk of changes in cash flows resulting from foreign currency salary payments during the year, the Company has instituted a foreign currency cash flow hedging program. The Company hedges portions of its forecasted expenses denominated in NIS. These forward and option contracts are designated as cash flow hedges, as defined by ASC 815, and are all effective, as their critical terms match underlying transactions being hedged. As of December 31, 2015 and 2016, the amount recorded in accumulated other comprehensive loss from the Company's currency forward and option transactions was $93 (net of tax of $18) and $34 (net of tax of $6), respectively. At December 31, 2016, the notional amounts of foreign exchange forward contracts into which the Company entered were $17,800. The foreign exchange forward contracts will expire by December 2017. The fair value of derivative instruments assets balance as of December 31, 2015 and 2016, totaled $16 and $32, respectively. The fair value of derivative instruments liabilities balance as of December 31, 2015 and 2016, totaled $130 and $72, respectively. In addition to the derivatives that are designated as hedges as discussed above, the Company enters into certain foreign exchange forward transactions to economically hedge certain account receivables in Euros and GBP. For the years ended December 31, 2014, 2015 and 2016, the Company recorded financial income, net from hedging transactions of $35, $260 and $270, respectively. l. Severance pay: The Israeli Severance Pay Law, 1963 ( “ ” Part of the Company's liability for severance pay is covered by the provisions of Section 14 of the Severance Pay Law ( “ ” For the Company's employees in Israel who are not subject to Section 14, the Company calculated the liability for severance pay pursuant to the Severance Pay Law based on the most recent salary of these employees multiplied by the number of years of employment as of the balance sheet date. The Company's liability for these employees is fully provided for via monthly deposits with severance pay funds, insurance policies and an accrual. The value of these deposits is recorded as an asset on the Company's balance sheet. Severance expense for the years ended December 31, 2014, 2015 and 2016, amounted to $1,187, $1,794 and $2,503, respectively. m. U.S. defined contribution plan: The U.S. subsidiary has a 401(k) defined contribution plan covering certain full time employees in the U.S. All eligible employees may elect to contribute up to an annual maximum, of the lesser of 60% of their annual compensation to the plan through salary deferrals, subject to Internal Revenue Service limits, but not greater than $18 per year (for certain employees over 50 years of age the maximum contribution is $24 per year). The U.S. subsidiary matches amount equal to 100% of the first 3% of the employees compensation that they contribute to the defined contribution plan and 50% of the next 2% of their compensation that they contribute to the defined contribution plan with a limit of $10.6 per year. For the years ended December 31, 2014, 2015 and 2016, the U.S. subsidiary recorded expenses for matching contributions of $544, $907 and $1,259 respectively. n. Revenue recognition: The Company generates revenues from licensing the rights to use its software products, maintenance and professional services. The Company sells its products through its direct sales force and indirectly through resellers. The Company accounts for its software licensing sales in accordance with ASC 985-605, “ ” “ ” “ ” Maintenance and professional services are sold separately and therefore the selling price (VSOE) is based on stand-alone transactions. Under the residual method, at the outset of the arrangement with the customer, the Company defers revenue for the fair value of its undelivered elements and recognizes revenue for the remainder of the arrangement fee attributable to the elements initially delivered in the arrangement (software element) when all other criteria in ASC 985-605 have been met. Any discount in the arrangement is allocated to the delivered element. Software license revenues are recognized when persuasive evidence of an arrangement exists, the software license has been delivered, there are no uncertainties surrounding product acceptance, there are no significant future performance obligations, the license fees are fixed or determinable and collection of the license fee is considered probable. Fees for arrangements with payment terms extending beyond customary payment terms are considered not to be fixed or determinable, in which case revenue is deferred and recognized when payments become due from the customer provided that all other revenue recognition criteria have been met. Revenues from maintenance and support contracts are recognized ratably, on a straight-line basis over the term of the related contract and revenues from professional services consist mostly of time and material services which are recognized as the services are performed. Professional services are not considered to be essential to the functionality of the software. The Company's software license, maintenance and professional services sold through resellers are non-exchangeable, non-refundable, non-returnable and without any rights of price protection. Accordingly, the Company considers resellers as customers. In transactions where a customer's contractual terms include a substantive provision for customer acceptance, revenues are recognized when such acceptance has been obtained or when the acceptance provision has lapsed. Deferred revenue includes unearned amounts received under maintenance and support contracts, professional services and amounts received from customers for licenses that do not meet the revenue recognition criteria as of the balance sheet date. o. Research and development costs: Research and development costs are charged to the statements of comprehensive income as incurred. ASC 985-20, “ ” Based on the Company's product development process, technological feasibility is established upon completion of a working model. Costs incurred by the Company between completion of the working model and the point at which the product is ready for general release, have been insignificant. Therefore, all research and development costs are expensed as incurred. p. Marketing expenses: Marketing expenses consist primarily of marketing campaigns and tradeshows. Marketing expenses are charged to the statement of comprehensive income, as incurred. Marketing expenses for the years ended December 31, 2014, 2015 and 2016, amounted to $5,896, $7,498 and $10,622, respectively. q. Share-based compensation: The Company accounts for share-based compensation in accordance with ASC 718, “ ” “ ” The Company recognizes compensation expenses for the value of its awards granted based on the straight-line method over the requisite service period of each of the awards, net of estimated forfeitures. ASC No. 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company has selected the Black-Scholes-Merton option-pricing model as the most appropriate fair value method for its option awards. The option-pricing model requires a number of assumptions, of which the most significant are the expected share price, volatility and the expected option term. The fair value of ordinary share underlying the options has historically been determined by management and approved by the Company's board of directors. Prior to September 24, 2014, because there had been no public market for the Company's ordinary shares, management determined fair value of an ordinary share at the time of grant of the option by considering a number of objective and subjective factors including financing investment rounds, operating and financial performance, the lack of liquidity of share capital and general and industry specific economic outlook, amongst other factors. The Company's management determined the fair value of ordinary shares based on valuations performed using the Option Pricing Method ( “ ” r. Income taxes: The Company accounts for income taxes in accordance with ASC No. 740-10, “ ” “ ”) The Company established reserves for uncertain tax positions based on the evaluation of whether or not the Company's uncertain tax position is “ ” s. Basic and diluted net income per share: The Company applies the two class method as required by ASC No. 260-10, “ ” “ ” Basic and diluted net income per share is computed based on the weighted-average number of ordinary shares outstanding during each year. Diluted income per share is computed based on the weighted average number of ordinary shares outstanding during the period, plus dilutive potential shares considered outstanding during the period, in accordance with ASC 260-10. The total weighted average number of shares related to outstanding options, RSU's, warrants and preferred shares that have been excluded from the calculation of diluted net earnings per share was 437,176, 484,726 and 1,381,114 for the years ended December 31, 2014, 2015 and 2016, respectively. t. Comprehensive income (loss): The Company accounts for comprehensive income (loss) in accordance with Accounting Standards Codification No. 220, “ ” “ ” u. Concentration of credit risks: Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, short-term bank deposits, marketable securities, trade receivables and derivative instruments. The majority of the Company's cash and cash equivalents and short-term bank deposits are invested with major banks in Israel and the United States. Such investments in the United States are primarily in excess of insured limits and are not insured in other jurisdictions. Generally, these investments may be redeemed upon demand and the Company believes that banks are financially sounds and, accordingly, bear minimal risk. The Company's marketable securities consist of investments, which are highly rated by credit agencies, in government, corporate and government sponsored enterprises debentures. The Company's investment policy limits the amount that the Company may invest in any one type of investment or issuer, in order to reduce credit risk concentrations. The trade receivables of the Company are mainly derived from sales to diverse set of customers located primarily in the United States, Europe and Asia. The Company performs ongoing credit evaluations of its customers and, to date, has not experienced any significant losses. The Company has entered into forward contracts with major banks in Israel to protect against the risk of changes in exchange rates. The derivative instruments hedge a portion of the Company's non-dollar currency exposure. v. Fair value of financial instruments: The estimated fair value of financial instruments has been determined by the Company using available market information and valuation methodologies. Considerable judgment is required in estimating fair values. Accordingly, the estimates may not be indicative of the amounts the Company could realize in a current market exchange. The following methods and assumptions were used by the Company in estimating the fair value of their financial instruments: The carrying values of cash and cash equivalents, short-term bank deposits, trade receivables, prepaid expenses and other current assets, trade payables, employees and payroll accruals and accrued expenses and other current liabilities approximate fair values due to the short-term maturities of these instruments. The Company applies ASC No. 820, “ ” “ ” The fair value of foreign currency contracts (used for hedging purposes) is estimated by obtaining current quotes from banks and third party valuations. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 - Inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the assets or liabilities, either directly or indirectly through market corroboration, for substantially the full term of the financial instruments. Level 3 - Inputs are unobservable inputs based on the Company's own assumptions used to measure assets and liabilities at fair value. The inputs require significant management judgment or estimation. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. In accordance with ASC 820, the Company measures its foreign currency derivative instruments, at fair value using the market approach valuation technique. Foreign currency derivative contracts as detailed in note 2.k are classified within Level 2 value hierarchy, as the valuation inputs are based on quoted prices and market observable data of similar instruments. w. Warrants to purchase preferred shares: The Company accounted for freestanding warrants to purchase its preferred shares as a liability on its consolidated balance sheet at fair value. The warrants to purchase preferred shares were recorded as a liability as the underlying preferred shares were contingently redeemable (upon a deemed liquidation event) and, therefore, could have obligated the Company to transfer assets in the future. The warrants were subject to re-measurement to fair value at each balance sheet date and any change in fair value was recognized as a component of financial expense, net, on the consolidated statements of comprehensive income. During the year ended December 31, 2014, the Company recorded financial expenses from change in the warrants' fair value of $4,309. Upon the IPO, the warrants were exercised to Series B3 preferred shares which were later converted into ordinary shares. The Company re-measured the warrants as of the conversion date using the intrinsic value based on the IPO price. x. Legal contingencies: The Company is not currently a party, as plaintiff or defendant, to any legal proceedings that, individually or in the aggregate are expected by the Company to have a material effect on its consolidated financial statements. 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. y. The impact of recently issued accounting standards still not effective for the Company as of December 31, 2016 is as follows: In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue Recognition – Revenue from Contracts with Customers (Topic 606), which will replace substantially all current revenue recognition guidance once it becomes effective. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date, which deferred the effective date of the new revenue standard for periods beginning after December 15, 2016 to December 15, 2017, with early adoption permitted but not earlier than the original effective date. The Company does not currently intend to adopt the provisions of the new standard early. The FASB issued subsequent amendments to the initial guidance in March 2016, April 2016, May 2016 and December 2016 within ASU 2016-08, 2016-10, 2016-12, 2016-20, respectively. The new standard provides accounting guidance for all revenue arising from contracts with customers and affects all entities that enter into contracts to provide goods or services to their customers unless the contracts are in the scope of other standards. The new standard is less prescriptive and may require software entities to use more judgment and estimates in the revenue recognition process than are required under existing revenue guidance. The new standard allows the option of modified retrospective adoption with certain reliefs according to which the new standard will be applied to existing contracts from the initial period of adoption and thereafter with no restatement of comparative data. Under this option, the Company will recognize the cumulative effect of the initial adoption of the new standard as an adjustment to the opening balance of retained earnings (or another component of equity, as applicable) as of the date of initial application. Alternatively, the new standard permits full retrospective adoption with certain reliefs. The Company expects to adopt the standard under the modified retrospective method. However, the Company is continuing to evaluate the impact of the standard, and its adoption method is subject to change. The Company is in the process of analyzing its contracts to quantify the impact that the adoption of the standard will have on revenue. The Company is also continuing to evaluate the impact of the standard on its costs related to obtaining customer contracts (mainly sales commissions). In February 2016, the FASB issued ASU 2016-02. ASU 2016-02 changes the current lease accounting standard by requiring the recognition of lease assets and lease liabilities for all leases, including those currently classified as operating leases. This new guidance is to be applied under a modified retrospective application to the earliest reporting period presented for reporting periods beginning after December 15, 2018. Early adoption is permitted. The Company is currently evaluating the potential impact of this new guidance on its financial statements. In March 2016, the FASB issued ASU 2016-09 Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. This standard simplifies various aspects related to how share-based payments are accounted for and presented in the financial statements, including income taxes, forfeitures and statutory tax withholding requirements. The guidance is effective for the Company beginning in the first quarter of 2017. The Company adopted the updated standard in the first quarter of fiscal year 2017. As a result, the Company's deferred taxes and retained earnings increased by approximately $12,200. In June 2016, the FASB Issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The new standard requires financial assets measured at amortized cost be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The standard will be effective for the Company beginning January 1, 2020, with early application permitted. The Company is evaluating the impact of adopting this new accounting guidance on its consolidated financial statements . In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The new standard will address eight specific cash flow issues with the objective of reducing the existing diversity in practice in how certain transactions are presented and classified in the statement of cash flows. The standard will be effective for the Company beginning January 1, 2018, with early application permitted. The standard will require adoption on a retrospective basis unless it is impracticable to apply, in which case the Company would be required to apply the amendments prospectively as of the earliest date practicable. The Company is evaluating the impact of adopting this new accounting guidance on its consolidated financial statements. In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740); Intra-Entity Transfers of Assets Other than Inventory. This guidance was issued to improve the accounting for income tax consequences of intra-entity transfers of assets other than inventory. Under the amendment an entity should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The update is effective for annual periods beginning after December 15, 2017, and interim periods thereafter. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its consolidated financial statements. In January 2017, FASB issued ASU 2017-01, Business Combinations (Topic 805) Clarifying the Definition of Business. ASU 2017-01 clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The update to the standard is effective for interim and annual periods beginning after December 15, 2017, and applied prospectively. The Company is currently evaluating the impact of the adoption of ASU 2017-01 on its consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, simplifying the Test for Goodwill Impairment (Topic 350). This standard eliminates Step 2 from the goodwill impairment test, instead requiring an entity to recognize a goodwill impairment charge for the amount by which the goodwill carrying amount exceeds the reporting unit's fair value. This guidance is effective for interim and annual goodwill impairment tests in fiscal years beginning after December 15, 2019 with early adoption permitted. This guidance must be applied on a prospective basis. The Company is currently evaluating the potential effect of the guidance on its consolidated financial statements.

MARKETABLE SECURITIES

MARKETABLE SECURITIES	12 Months Ended
	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
MARKETABLE SECURITIES	NOTE 3: MARKETABLE SECURITIES The following table summarizes the amortized cost, unrealized gains and losses, and fair value of available-for-sale marketable securities as of December 31, 2016: December 31, 2016 Amortized cost Gross unrealized losses *) Fair value Corporate debentures $ 32,734 $ (154 ) $ 32,580 U.S. Agencies debentures 2,457 (14 ) 2,443 Government treasuries 666 - 666 Total $ 35,857 $ (168 ) $ 35,689 *) Less than one year The following table summarizes the amortized cost and fair value of available-for-sale marketable securities as of ended December 31, 2016, by contractual years-to maturity: December 31, 2016 Amortized cost Fair value Due within one year $ 15,269 $ 15,246 Due between one and four years 20,588 20,443 $ 35,857 $ 35,689

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	12 Months Ended
	Dec. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
PREPAID EXPENSES AND OTHER CURRENT ASSETS	NOTE 4: PREPAID EXPENSES AND OTHER CURRENT ASSETS December 31, 2015 2016 Prepaid expenses $ 2,154 $ 3,169 Hedging transaction assets 155 379 Government authorities 694 947 Other current assets 290 309 $ 3,293 $ 4,804

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	NOTE 5: PROPERTY AND EQUIPMENT, NET The composition of property and equipment is as follows: December 31, 2015 2016 Cost: Computers and related equipment $ 3,712 $ 5,792 Leasehold improvements 1,092 1,621 Office furniture and equipment 1,095 1,353 5,899 8,766 Less - accumulated depreciation 2,315 4,006 Depreciated cost $ 3,584 $ 4,760 Depreciation expense amounted to $746, $1,129 and $1,965 for the years ended December 31, 2014, 2015 and 2016, respectively.

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS, NET	NOTE 6: INTANGIBLE ASSETS, NET The composition of intangible assets is as follows: December 31, 2015 2016 Original amount: Technology $ 14,073 $ 14,073 Customer relationships 5,120 5,120 Other 490 490 19,683 19,683 Accumulated amortization: Technology 1,053 4,211 Customer relationships 2 1,137 Other 70 300 1,125 5,648 Intangible assets, net $ 18,558 $ 14,035 Amortization expense amounted to $1,125 and $4,523 for the years ended December 31, 2015 and 2016, respectively. The estimated future amortization expense of intangible assets as of December 31, 2016 is as follows: 2017 $ 4,355 2018 4,064 2019 3,083 2020 1,408 2021 326 Thereafter 799 $ 14,035

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	12 Months Ended
	Dec. 31, 2016
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	NOTE 7: ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES December 31, 2015 2016 Government authorities $ 7,131 $ 3,722 Accrued expenses 1,730 2,602 Unrecognized tax benefits 362 474 Hedging transaction liabilities 143 78 $ 9,366 $ 6,876

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	NOTE 8: COMMITMENTS AND CONTINGENT LIABILITIES a. Lease commitments: The Company leases its facilities under various operating lease agreements, which expire through 2022. In addition, the Company leases certain motor vehicles under certain car operating lease agreements which expire through 2019. The minimum lease payments under operating leases as of December 31, 2016 are as follows: Lease of premises Lease of motor vehicles 2017 $ 3,940 $ 268 2018 3,920 193 2019 4,042 105 2020 4,050 - 2021 4,057 Thereafter 2,632 - $ 22,641 $ 566 Total lease expense for the years ended December 31, 2014, 2015 and 2016 was $2,309, $2,653 and $3,649, respectively. Total motor vehicle lease expense for the years ended December 31, 2014, 2015 and 2016 was $369, $435 and $511, respectively. b. Pledges and bank guarantees: The Company pledged a bank deposit of $1,236 mainly in respect of an office lease agreement and hedging transactions. This balance is presented as part of short-term bank deposits and other long-term assets. The Company obtained bank guarantees of $1,045, primarily in connection with an office lease agreement.

FAIR VALUE MESUREMENTS

FAIR VALUE MESUREMENTS	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE MESUREMENTS	NOTE 9: FAIR VALUE MEASUREMENTS The following tables present the fair value of money market funds and marketable securities for the year ended December 31, 2016: December 31, 2016 Level 1 Level 2 Total Cash equivalents: Money market funds $ 1,906 $ - $ 1,906 Marketable securities: Corporate debentures - 32,580 32,580 U.S. Agencies debentures - 2,443 2,443 Government treasuries - 666 666 Total assets measured at fair value $ 1,906 $ 35,689 $ 37,595

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHAREHOLDERS' EQUITY	NOTE 10: SHAREHOLDERS' EQUITY a. Composition of share capital of the Company: December 31, 2015 December 31, 2016 Authorized Issued and outstanding Authorized Issued and outstanding Number of shares Ordinary shares of NIS 0.01 par value each 250,000,000 33,289,839 250,000,000 34,250,590 b. Ordinary shares: The ordinary shares of the Company confer upon the holders the right to receive notices of and to participate and vote in general meetings of the Company, rights to receive dividends and rights to participate in distribution of assets upon liquidation after all the preferred shares received their preference amount in full. c. Share-based compensation: Under the Company's 2001 equity incentive plan, as amended March 5, 2003, and its 2011 and 2014 equity incentive plans (collectively, the “ ” “ ” Under the Plans, as of December 31, 2016, an aggregate of 725,620 shares were still available for future grant. Each option granted under the Plans expires no later than ten years from the date of grant. The vesting period of the options is generally four years, unless the Board of Directors or the Board's Compensation Committee determines otherwise. Any option which is forfeited or cancelled before expiration becomes available for future grants. The total share-based compensation expense related to all of the Company's equity-based awards, recognized for the years ended December 31, 2014, 2015 and 2016 is comprised as follows: Year ended December 31, 2014 2015 2016 Cost of revenues $ 137 $ 499 $ 1,386 Research and development 172 1 4,660 Sales and marketing 347 2,214 5,765 General and administrative 917 2,829 5,724 Total share-based compensation expense $ 1,573 $ 7,049 $ 17,535 The total unrecognized compensation cost amounted to $46,059 as of December 31, 2016, and is expected to be recognized over a weighted average period of 2.59 years. In March 2015, 15,000 warrants to purchase ordinary shares 1 which were donated to “ ” were exercised. d. Options granted to employees: A summary of the activity in options granted to employees for the year ended December 31, 2016 is as follows: Amount of options Weighted average exercise price Weighted average remaining contractual term (in years) Aggregate intrinsic value Balance as of December 31, 2015 3,358,875 $ 14.27 6.54 $ 111,093 Granted 569,300 $ 43.39 Exercised (837,835 ) $ 2.99 Forfeited (51,983 ) $ 28.91 Balance as of December 31, 2016 3,038,357 $ 22.58 6.70 $ 77,346 Exercisable as of December 31, 2016 1,924,816 $ 11.00 5.52 $ 69,420 Vested and expected to vest as of December 31, 2016 3,005,577 $ 22.36 6.68 $ 77,144 The computation of expected volatility is based on actual historical share price volatility of comparable companies. The expected option term represents the period of time that options granted are expected to be outstanding. For stock-option awards which were at the money when granted (plain vanilla stock-options), it is determined based on the simplified method in accordance with SAB No. 110, as adequate historical experience is not available to provide a reasonable estimate. The simplified method will continue to apply until enough historical experience is available to provide a reasonable estimate of the expected term. The Company has historically not paid dividends and has no foreseeable plans to pay dividends and, therefore, uses an expected dividend yield of zero in the option pricing model. The risk-free interest rate is based on the yield of U.S. treasury bonds with equivalent terms. The following table set forth the parameters used in computation of the options compensation to employees for the years ended December 31, 2014, 2015 and 2016: Year ended December 31, 2014 2015 2016 Expected volatility 45 % 45 % 45 % Expected dividends 0 0 0 Expected term (in years) 5.81-6.11 5.78-6.12 5.25-6.10 Risk free rate 1.55%-2.02 % 1.37%-1.68 % 1.30%- 1.70 % A summary of options data for the years ended December 31, 2014, 2015 and 2016, is as follows: Year ended December 31, 2014 2015 2016 Weighted-average grant date fair value of options granted $ 6.95 $ 24.56 $ 19.16 Total intrinsic value of the options exercised $ 9,943 $ 110,191 $ 37,618 The aggregate intrinsic value is calculated as the difference between the per-share exercise price and the deemed fair value of an ordinary share for each share subject to an option multiplied by the number of shares subject to options at the date of exercise. The fair value of the Company's ordinary shares was $45.50 per share as of December 31, 2016. The following tables summarize information about the Company's outstanding and exercisable Exercise price Options outstanding as of December 31, 2016 Weighted average remaining contractual term Options exercisable as of December 31, 2016 Weighted average remaining contractual term (years) (years) $0.20 – 2.21 1,297,621 4.36 1,284,815 4.34 $6.47 – 14.00 495,676 7.24 343,650 7.24 $37.44 – 44.37 264,180 9.08 14,886 8.31 $45.58 – 51.86 517,244 9.23 90,832 9.01 $55.30 – 64.93 463,636 8.50 190,633 8.49 3,038,357 6.70 1,924,816 5.52 e. A summary of RSU activity for the year ended December 31, 2016, is as follows: Amount of RSU's Weighted average grant date fair value Unvested as of December 31, 2015 396,910 $ 53.44 Granted 487,600 $ 44.96 Vested (122,916 ) $ 52.59 Forfeited (31,889 ) $ 48.43 Unvested as of December 31, 2016 729,705 $ 48.14 The total fair value of RSU’s vested (based on fair value of the Company's ordinary shares at vesting date) during the years ended December 31, 2015 and 2016 was $998 and $5,981, respectively.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 11: INCOME TAXES CyberArk Software Ltd.'s subsidiaries are separately taxed under the domestic tax laws of the jurisdiction of incorporation of each entity. a. Corporate tax in Israel: Taxable income of the Company is subject to a corporate tax rate as follows: 2014 and 2015– 26.5% and 2016 – 25%. On January 5, 2016, the Israeli Parliament officially published the Law for the Amendment of the Israeli Tax Ordinance (Amendment 216), that reduced the corporate tax rate from 26.5% to 25%. In December 2016, the Israeli Parliament approved the Economic Efficiency Law (Legislative Amendments for Applying the Economic Policy for the 2017 and 2018 Budget Years), which reduces the corporate income tax rate to 24% effective from January 1, 2017 and to 23% effective from January 1, 2018. b. Income before taxes on income is comprised as follows: Year ended December 31, 2014 2015 2016 Domestic $ 13,194 $ 28,285 $ 32,077 Foreign 1,272 3,458 4,124 $ 14,466 $ 31,743 $ 36,201 c. Deferred income taxes: Deferred taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts recorded for tax purposes. Significant components of the Company's deferred tax assets and liabilities are as follows: December 31, 2015 2016 Deferred tax assets: Net operating loss carry-forwards $ 5,584 $ 1,956 Capital losses carry-forwards 52 50 Research and development expenses 2,945 4,119 Deferred revenues 3,760 4,222 Issuance expenses 790 124 Share-based compensation 549 2,979 Accruals and other 1,590 1,612 Deferred tax assets before valuation allowance 15,270 15,062 Valuation allowance 52 50 Deferred tax asset $ 15,218 $ 15,012 Deferred tax liabilities: Intangible assets $ 5,761 $ 3,961 Property and equipment depreciation and other 213 662 Deferred tax liabilities $ 5,974 $ 4,623 d. Income taxes are comprised as follows: Year ended December 31, 2014 2015 2016 Current $ 4,467 $ 10,042 $ 9,207 Deferred 45 (4,093 ) (1,130 ) $ 4,512 $ 5,949 $ 8,077 Year ended December 31, 2014 2015 2016 Domestic $ 2,485 $ 5,208 $ 4,906 Foreign 2,027 741 3,171 $ 4,512 $ 5,949 $ 8,077 e. A reconciliation of the Company's theoretical income tax expense to actual income tax expense is as follows: Year ended December 31, 2014 2015 2016 Income before income taxes $ 14,466 $ 31,743 $ 36,201 Statutory tax rate 26.5 % 26.5 % 25.0 % Theoretical income tax expense 3,833 8,412 9,050 Utilization of tax losses and deferred taxes for which valuation allowance was provided, net (143 ) (771 ) (72 ) Deferred taxes on losses for which valuation allowance was provided, net 834 (1,713 ) - Non-deductible expenses 1,165 2,295 2,569 Unrecognized tax expense 19 8 81 Foreign and preferred enterprise tax rates differential (838 ) (2,303 ) (3,468 ) Other (358 ) 21 (83 ) Income tax expense $ 4,512 $ 5,949 $ 8,077 f. Net operating loss carry-forwards: As of December 31, 2016, the Company had net operating and capital tax losses totaling approximately $36,227 and $219, respectively, out of which approximately $2,727 and $219 of losses, respectively, were attributed to Israel and can be carried forward indefinitely and $33,500 (including $30,041 of excess tax benefits related to share based compensation) and none, respectively, were attributed to the U.S. subsidiary and can be carried forward for up to 20 years. Utilization of some of U.S. net operating losses are subject to annual limitation due to the “ ” g. Tax benefits under the Law for the Encouragement of Capital Investments, 1959: The Company has been granted “ ” “ ” The period of tax benefits detailed above is subject to limits of 12 years from the year of commencement of production, or 14 years from granting of approval, whichever is earlier. The tax-exempt income attributable to the “ ” “ ” Entitlement to the above benefits is conditional upon the Company fulfilling the conditions stipulated by the above law, regulations published thereunder and the letters of approval for the specific investments in “ ” Income not eligible for “ ” On April 1, 2005, an amendment to the Investment Law came into effect ( “ ” However, the Investment Law provides that terms and benefits included in any letter of approval already granted will remain subject to the provisions of the law as they were on the date of such approval. Therefore, the Company's existing Approved Enterprise will generally not be subject to the provisions of the Amendment. Such an enterprise is a “ ” “ ” The Company has elected the status of a Beneficiary Enterprise for the years ended in 2006 and 2008. As of December 31, 2016, approximately $13,077 was derived from tax exempt profits earned by the Company's “ ” “ ” “ ” “ ” If the Company's retained tax-exempt income is distributed, the income would be taxed at the applicable corporate tax rate as if it had not elected the alternative tax benefits under the Investment Law and an income tax liability of up to $3,211 would be incurred as of December 31, 2016. On December 29, 2010, the Knesset approved an additional amendment to the Law for the Encouragement of Capital Investments, 1959. According to the amendment, a reduced uniform corporate tax rate for exporting industrial enterprises (over 25%) was established. The reduced tax rate will not be program dependent and will apply to the "Preferred Enterprise's" (as such term is defined in the Investment Law) entire income. Pursuant to the amendment, a "Preferred Enterprise" is entitled to a reduced corporate tax rate of 15% in 2011 and 2012, unless the Preferred Enterprise is located in a specified development zone, in which case the rate will be 10%. Such corporate tax rate was reduced from 15% and 10%, respectively, to 12.5% and 7%, respectively in 2013, and then increased to 16% and 9%, respectively, in 2014 until 2016. On March 2013, the Company notified the Israeli Tax Authorities that it had transferred from Beneficiary Enterprise status to Preferred Enterprise status. Amendment to the Law for the Encouragement of Capital Investments, 1959 (Amendment 73): In December 2016, the Economic Efficiency Law (Legislative Amendments for Applying the Economic Policy for the 2017 and 2018 Budget Years), 2016 which includes Amendment 73 to the Law for the Encouragement of Capital Investments ( “ ” The Amendment also prescribes special tax tracks for technological enterprises, which are subject to rules that are to be issued by the Minister of Finance by March 31, 2017. The new tax track under the Amendment is relevant to the Company as follows: Technological preferred enterprise is defined as an enterprise for which total consolidated revenues of its parent company and all subsidiaries are less than NIS 10 billion. A technological preferred enterprise, as defined in the Amendment, which is located in the center of Israel will be subject to tax at a rate of 12% on profits deriving from intellectual property (in development area A - a tax rate of 7.5%). Any dividends distributed to “ ” Since as of December 31, 2016 definitive criteria to determine the tax benefits had not yet been established, it cannot be concluded that the legislation in respect of technological enterprises had been enacted or substantively enacted as of that date. Accordingly, the above changes in the tax rates relating to technological enterprises were not taken into account in the computation of deferred taxes as of December 31, 2016. h. Tax benefits under the Law for the Encouragement of Industry (Taxation), 1969 Management believes that the Company currently qualifies as an “industrial company” under the above law and as such, is entitled to certain tax benefits including accelerated depreciation, deduction of public offering expenses in three equal annual installments and amortization of other intangible property rights for tax purposes i. Tax assessments: CyberArk Software Ltd. tax years until December 31, 2012 are subject to statutes of limitation as of December 31, 2016. The U.K. subsidiary's tax years until December 31, 2012 are subject to statutes of limitation as of December 31, 2016. The U.S. subsidiary's tax years ended from December 31, 2002, 2004, 2005, 2006, 2008, 2011 and 2013 through 2016 are still open, as the statutes of limitation have not yet expired. j. Uncertain tax benefits: A reconciliation of the opening and closing amounts of total unrecognized tax benefits is as follows: Year ended December 31, 2015 2016 Opening balance $ 322 $ 362 Increase related to prior year tax positions 4 53 Increase related to current year tax positions 36 59 Closing balance $ 362 $ 474

FINANCIAL INCOME (EXPENSES), NE

FINANCIAL INCOME (EXPENSES), NET	12 Months Ended
	Dec. 31, 2016
Other Income and Expenses [Abstract]
FINANCIAL INCOME (EXPENSES), NET	NOTE 12: FINANCIAL INCOME (EXPENSES), NET Year ended December 31, 2014 2015 2016 Bank charges $ (63 ) $ (86 ) $ (144 ) Changes in fair value of warrants to purchase preferred shares (4,309 ) - - Exchange rate loss, net (1,817 ) (1,723 ) (969 ) Total expenses (6,189 ) (1,809 ) (1,113 ) Interest income 201 330 1,358 Financial income (expenses), net $ (5,988 ) $ (1,479 ) $ 245

BASIC AND DILUTED NET INCOME PE

BASIC AND DILUTED NET INCOME PER SHARE	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
BASIC AND DILUTED NET INCOME PER SHARE	NOTE 13: BASIC AND DILUTED NET INCOME PER SHARE Year ended December 31, 2014 2015 2016 Numerator: Net income $ 9,954 $ 25,794 $ 28,124 Dividends accumulated for the period (3,815 ) - - Net income available to shareholders of ordinary shares $ 6,139 $ 25,794 $ 28,124 Denominator: Shares used in computing net income per ordinary shares, basic 13,335,059 32,124,772 33,741,359 Year ended December 31, 2014 2015 2016 Numerator: Net income available to shareholders of ordinary shares $ 9,954 $ 25,794 $ 28,124 Denominator: Shares used in computing net income per ordinary shares, diluted 29,704,730 35,322,716 35,838,863

SEGMENTS, CUSTOMERS AND GEOGRAP

SEGMENTS, CUSTOMERS AND GEOGRAPHIC INFORMATION	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
SEGMENTS, CUSTOMERS AND GEOGRAPHIC INFORMATION	NOTE 14: SEGMENTS, CUSTOMERS AND GEOGRAPHIC INFORMATION a. The Company applies ASC Topic 280, “ ” “ ” b. The following tables present total revenues for the years ended December 31, 2014, 2015 and 2016 and long-lived assets as of December 31, 2015 and 2016: Revenues: Year ended December 31, 2014 2015 2016 United States $ 60,761 $ 92,034 $ 125,749 Israel 4,234 5,203 6,818 United Kingdom 12,220 16,746 21,699 EMEA *) 16,744 28,695 39,577 Other 9,040 18,134 22,770 $ 102,999 $ 160,812 $ 216,613 For the years ended December 31, 2014 and 2015, no single customer contributed more than 10% to the Company's total revenues. For the year ended December 31, 2016, 12.1% of the Company's total revenues was derived from one channel partner. Long-lived assets: December 31, 2015 2016 United States $ 929 $ 1,421 Israel 2,418 3,014 United Kingdom 155 90 EMEA *) 22 24 Other 60 211 $ 3,584 $ 4 760 *) Europe, the Middle East and Africa, excluding United Kingdom and Israel

SIGNIFICANT ACCOUNTING POLICI23

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Use of estimates	a. Use of estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company evaluates on an ongoing basis its assumptions, including those related to contingencies, income taxes, deferred taxes, share-based compensation, value of intangible assets and goodwill as well as in estimates used in applying the revenue recognition policy. The Company's management believes that the estimates, judgment and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates .
Principles of consolidation	b. Principles of consolidation: The consolidated financial statements include the accounts of CyberArk Software Ltd. and its wholly-owned subsidiaries. Intercompany transactions and balances, have been eliminated upon consolidation.
Financial statements in U.S. dollars	c. Financial statements in U.S. dollars: A majority of the Company's revenues are generated in U.S. dollars. In addition, the equity investments were in U.S. dollars and a substantial portion of the Company's costs are incurred in U.S. dollars and New Israeli Shekels ( “ ”) Accordingly, monetary accounts maintained in currencies other than the U.S. dollar are re-measured into U.S. dollars in accordance with Statement of the Accounting Standard Codification ("ASC") No. 830 " The functional currency of the Company's foreign
Cash and cash equivalents	d. Cash and cash equivalents: Cash equivalents are short-term highly liquid deposits that are readily convertible to cash with original maturities of three months or less, at the date acquired.
Short-term bank deposits	e. Short-term bank deposits: Short-term bank deposits are deposits with maturities of up to one year. As of December 31, 2015 and 2016, the Company's bank deposits are denominated in U.S. dollars, Euros and NIS and bear interest at weighted average deposits rates of 0.4% and 1.26%, respectively. Short-term bank deposits are presented at their cost, including accrued interest. A portion of these deposits is used as security for the rental of premises and as a security for the Company's hedging activities.
Investments in marketable securities	f. Investments in marketable securities: The Company accounts for investments in marketable securities in accordance with ASC No. 320, “ ” The Company's securities are reviewed for impairment in accordance with ASC 320-10-35. If such assets are considered to be impaired, the impairment charge is recognized in earnings when a decline in the fair value of its investments below the cost basis is judged to be Other-Than-Temporary Impairment (OTTI). 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. Based on the above factors, the Company concluded that unrealized losses on its available-for-sale securities, for the year ended December 31, 2016 were not OTTI.
Property and equipment	g. Property and equipment: Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets at the following annual rates: % Computers and related equipment 25 - 33 Office furniture and equipment 7 - 20 Leasehold improvements Over the shorter of the related lease period or the life of the asset
Long-lived assets	h. Long-lived assets: The long-lived assets of the Company are reviewed for impairment in accordance with ASC No. 360, “ ” “ ”
Business Combination	i. Business Combination: The Company accounts for its business acquisitions in accordance with Accounting Standards Codification ASC No. 805, “ ”
Goodwill and other intangible assets	j. Goodwill and other intangible assets: Goodwill and certain other purchased intangible assets have been recorded in the Company's financial statements as a result of acquisitions. Goodwill represents excess of the costs over the net tangible and intangible assets acquired of businesses acquired under ASC No. 350, “ ” “ ” ASC 350 requires goodwill to be tested for impairment at least annually and, in certain circumstances, between annual tests. The Company operates as one reporting unit. Therefore, goodwill is tested for impairment by comparing the fair value of the reporting unit with its carrying value. The Company elects to perform an annual impairment test of goodwill as of October 1 of each year, or more frequently if impairment indicators are present. Purchased intangible assets with finite lives are carried at cost, less accumulated amortization. Amortization is computed over the estimated useful lives of the respective assets which range from one to 13 years. Acquired customer relationship and backlog are amortized over their estimated useful lives in proportion to the economic benefits realized. Other intangible assets consist primarily of technology are amortized over their estimated useful lives on a straight-line basis. For the years ended December 31, 2015 and 2016, no impairment losses were identified.
Derivative instruments	k. Derivative instruments: ASC No. 815, “ ” For those derivative instruments that are designated and qualify as hedging instruments, a company must designate the hedging instrument, based upon the exposure being hedged, as a fair value hedge, cash flow hedge or a hedge of a net investment in a foreign operation. 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. The remaining gain or loss on the derivative instrument in excess of the cumulative change in the present value of future cash flows of the hedged item, if any, is recognized in current earnings during the period of change. To hedge against the risk of changes in cash flows resulting from foreign currency salary payments during the year, the Company has instituted a foreign currency cash flow hedging program. The Company hedges portions of its forecasted expenses denominated in NIS. These forward and option contracts are designated as cash flow hedges, as defined by ASC 815, and are all effective, as their critical terms match underlying transactions being hedged. As of December 31, 2015 and 2016, the amount recorded in accumulated other comprehensive loss from the Company's currency forward and option transactions was $93 (net of tax of $18) and $34 (net of tax of $6), respectively. At December 31, 2016, the notional amounts of foreign exchange forward contracts into which the Company entered were $17,800. The foreign exchange forward contracts will expire by December 2017. The fair value of derivative instruments assets balance as of December 31, 2015 and 2016, totaled $16 and $32, respectively. The fair value of derivative instruments liabilities balance as of December 31, 2015 and 2016, totaled $130 and $72, respectively. In addition to the derivatives that are designated as hedges as discussed above, the Company enters into certain foreign exchange forward transactions to economically hedge certain account receivables in Euros and GBP. For the years ended December 31, 2014, 2015 and 2016, the Company recorded financial income, net from hedging transactions of $35, $260 and $270, respectively.
Severance pay	l. Severance pay: The Israeli Severance Pay Law, 1963 ( “ ” Part of the Company's liability for severance pay is covered by the provisions of Section 14 of the Severance Pay Law ( “ ” For the Company's employees in Israel who are not subject to Section 14, the Company calculated the liability for severance pay pursuant to the Severance Pay Law based on the most recent salary of these employees multiplied by the number of years of employment as of the balance sheet date. The Company's liability for these employees is fully provided for via monthly deposits with severance pay funds, insurance policies and an accrual. The value of these deposits is recorded as an asset on the Company's balance sheet. Severance expense for the years ended December 31, 2014, 2015 and 2016, amounted to $1,187, $1,794 and $2,503, respectively.
U.S. employees defined contribution plan	m. U.S. defined contribution plan: The U.S. subsidiary has a 401(k) defined contribution plan covering certain full time employees in the U.S. All eligible employees may elect to contribute up to an annual maximum, of the lesser of 60% of their annual compensation to the plan through salary deferrals, subject to Internal Revenue Service limits, but not greater than $18 per year (for certain employees over 50 years of age the maximum contribution is $24 per year). The U.S. subsidiary matches amount equal to 100% of the first 3% of the employees compensation that they contribute to the defined contribution plan and 50% of the next 2% of their compensation that they contribute to the defined contribution plan with a limit of $10.6 per year. For the years ended December 31, 2014, 2015 and 2016, the U.S. subsidiary recorded expenses for matching contributions of $544, $907 and $1,259 respectively.
Revenue recognition	n. Revenue recognition: The Company generates revenues from licensing the rights to use its software products, maintenance and professional services. The Company sells its products through its direct sales force and indirectly through resellers. The Company accounts for its software licensing sales in accordance with ASC 985-605, “ ” “ ” “ ” Maintenance and professional services are sold separately and therefore the selling price (VSOE) is based on stand-alone transactions. Under the residual method, at the outset of the arrangement with the customer, the Company defers revenue for the fair value of its undelivered elements and recognizes revenue for the remainder of the arrangement fee attributable to the elements initially delivered in the arrangement (software element) when all other criteria in ASC 985-605 have been met. Any discount in the arrangement is allocated to the delivered element. Software license revenues are recognized when persuasive evidence of an arrangement exists, the software license has been delivered, there are no uncertainties surrounding product acceptance, there are no significant future performance obligations, the license fees are fixed or determinable and collection of the license fee is considered probable. Fees for arrangements with payment terms extending beyond customary payment terms are considered not to be fixed or determinable, in which case revenue is deferred and recognized when payments become due from the customer provided that all other revenue recognition criteria have been met. Revenues from maintenance and support contracts are recognized ratably, on a straight-line basis over the term of the related contract and revenues from professional services consist mostly of time and material services which are recognized as the services are performed. Professional services are not considered to be essential to the functionality of the software. The Company's software license, maintenance and professional services sold through resellers are non-exchangeable, non-refundable, non-returnable and without any rights of price protection. Accordingly, the Company considers resellers as customers. In transactions where a customer's contractual terms include a substantive provision for customer acceptance, revenues are recognized when such acceptance has been obtained or when the acceptance provision has lapsed. Deferred revenue includes unearned amounts received under maintenance and support contracts, professional services and amounts received from customers for licenses that do not meet the revenue recognition criteria as of the balance sheet date.
Research and development costs	o. Research and development costs: Research and development costs are charged to the statements of comprehensive income as incurred. ASC 985-20, “ ” Based on the Company's product development process, technological feasibility is established upon completion of a working model. Costs incurred by the Company between completion of the working model and the point at which the product is ready for general release, have been insignificant. Therefore, all research and development costs are expensed as incurred.
Marketing expenses	p. Marketing expenses: Marketing expenses consist primarily of marketing campaigns and tradeshows. Marketing expenses are charged to the statement of comprehensive income, as incurred. Marketing expenses for the years ended December 31, 2014, 2015 and 2016, amounted to $5,896, $7,498 and $10,622, respectively.
Share-based compensation	q. Share-based compensation: The Company accounts for share-based compensation in accordance with ASC 718, “ ” “ ” The Company recognizes compensation expenses for the value of its awards granted based on the straight-line method over the requisite service period of each of the awards, net of estimated forfeitures. ASC No. 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company has selected the Black-Scholes-Merton option-pricing model as the most appropriate fair value method for its option awards. The option-pricing model requires a number of assumptions, of which the most significant are the expected share price, volatility and the expected option term. The fair value of ordinary share underlying the options has historically been determined by management and approved by the Company's board of directors. Prior to September 24, 2014, because there had been no public market for the Company's ordinary shares, management determined fair value of an ordinary share at the time of grant of the option by considering a number of objective and subjective factors including financing investment rounds, operating and financial performance, the lack of liquidity of share capital and general and industry specific economic outlook, amongst other factors. The Company's management determined the fair value of ordinary shares based on valuations performed using the Option Pricing Method ( “ ”
Income taxes	r. Income taxes: The Company accounts for income taxes in accordance with ASC No. 740-10, “ ” “ ”) The Company established reserves for uncertain tax positions based on the evaluation of whether or not the Company's uncertain tax position is “ ”
Basic and diluted net income per share	s. Basic and diluted net income per share: The Company applies the two class method as required by ASC No. 260-10, “ ” “ ” Basic and diluted net income per share is computed based on the weighted-average number of ordinary shares outstanding during each year. Diluted income per share is computed based on the weighted average number of ordinary shares outstanding during the period, plus dilutive potential shares considered outstanding during the period, in accordance with ASC 260-10. The total weighted average number of shares related to outstanding options, RSU's, warrants and preferred shares that have been excluded from the calculation of diluted net earnings per share was 437,176, 484,726 and 1,381,114 for the years ended December 31, 2014, 2015 and 2016, respectively.
Comprehensive income (loss)	t. Comprehensive income (loss): The Company accounts for comprehensive income (loss) in accordance with Accounting Standards Codification No. 220, “ ” “ ”
Concentration of credit risks	u. Concentration of credit risks: Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, short-term bank deposits, marketable securities, trade receivables and derivative instruments. The majority of the Company's cash and cash equivalents and short-term bank deposits are invested with major banks in Israel and the United States. Such investments in the United States are primarily in excess of insured limits and are not insured in other jurisdictions. Generally, these investments may be redeemed upon demand and the Company believes that banks are financially sounds and, accordingly, bear minimal risk. The Company's marketable securities consist of investments, which are highly rated by credit agencies, in government, corporate and government sponsored enterprises debentures. The Company's investment policy limits the amount that the Company may invest in any one type of investment or issuer, in order to reduce credit risk concentrations. The trade receivables of the Company are mainly derived from sales to diverse set of customers located primarily in the United States, Europe and Asia. The Company performs ongoing credit evaluations of its customers and, to date, has not experienced any significant losses. The Company has entered into forward contracts with major banks in Israel to protect against the risk of changes in exchange rates. The derivative instruments hedge a portion of the Company's non-dollar currency exposure.
Fair value of financial instruments	v. Fair value of financial instruments: The estimated fair value of financial instruments has been determined by the Company using available market information and valuation methodologies. Considerable judgment is required in estimating fair values. Accordingly, the estimates may not be indicative of the amounts the Company could realize in a current market exchange. The following methods and assumptions were used by the Company in estimating the fair value of their financial instruments: The carrying values of cash and cash equivalents, short-term bank deposits, trade receivables, prepaid expenses and other current assets, trade payables, employees and payroll accruals and accrued expenses and other current liabilities approximate fair values due to the short-term maturities of these instruments. The Company applies ASC No. 820, “ ” “ ” The fair value of foreign currency contracts (used for hedging purposes) is estimated by obtaining current quotes from banks and third party valuations. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 - Inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the assets or liabilities, either directly or indirectly through market corroboration, for substantially the full term of the financial instruments. Level 3 - Inputs are unobservable inputs based on the Company's own assumptions used to measure assets and liabilities at fair value. The inputs require significant management judgment or estimation. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. In accordance with ASC 820, the Company measures its foreign currency derivative instruments, at fair value using the market approach valuation technique. Foreign currency derivative contracts as detailed in note 2.k are classified within Level 2 value hierarchy, as the valuation inputs are based on quoted prices and market observable data of similar instruments.
Warrants to purchase preferred shares	w. Warrants to purchase preferred shares: The Company accounted for freestanding warrants to purchase its preferred shares as a liability on its consolidated balance sheet at fair value. The warrants to purchase preferred shares were recorded as a liability as the underlying preferred shares were contingently redeemable (upon a deemed liquidation event) and, therefore, could have obligated the Company to transfer assets in the future. The warrants were subject to re-measurement to fair value at each balance sheet date and any change in fair value was recognized as a component of financial expense, net, on the consolidated statements of comprehensive income. During the year ended December 31, 2014, the Company recorded financial expenses from change in the warrants' fair value of $4,309. Upon the IPO, the warrants were exercised to Series B3 preferred shares which were later converted into ordinary shares. The Company re-measured the warrants as of the conversion date using the intrinsic value based on the IPO price.
Legal contingencies	x. Legal contingencies: The Company is not currently a party, as plaintiff or defendant, to any legal proceedings that, individually or in the aggregate are expected by the Company to have a material effect on its consolidated financial statements. 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.
The impact of recently issued accounting standards still not effective for the Company as of December 31, 2016	y. The impact of recently issued accounting standards still not effective for the Company as of December 31, 2016 is as follows: In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue Recognition – Revenue from Contracts with Customers (Topic 606), which will replace substantially all current revenue recognition guidance once it becomes effective. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date, which deferred the effective date of the new revenue standard for periods beginning after December 15, 2016 to December 15, 2017, with early adoption permitted but not earlier than the original effective date. The Company does not currently intend to adopt the provisions of the new standard early. The FASB issued subsequent amendments to the initial guidance in March 2016, April 2016, May 2016 and December 2016 within ASU 2016-08, 2016-10, 2016-12, 2016-20, respectively. The new standard provides accounting guidance for all revenue arising from contracts with customers and affects all entities that enter into contracts to provide goods or services to their customers unless the contracts are in the scope of other standards. The new standard is less prescriptive and may require software entities to use more judgment and estimates in the revenue recognition process than are required under existing revenue guidance. The new standard allows the option of modified retrospective adoption with certain reliefs according to which the new standard will be applied to existing contracts from the initial period of adoption and thereafter with no restatement of comparative data. Under this option, the Company will recognize the cumulative effect of the initial adoption of the new standard as an adjustment to the opening balance of retained earnings (or another component of equity, as applicable) as of the date of initial application. Alternatively, the new standard permits full retrospective adoption with certain reliefs. The Company expects to adopt the standard under the modified retrospective method. However, the Company is continuing to evaluate the impact of the standard, and its adoption method is subject to change. The Company is in the process of analyzing its contracts to quantify the impact that the adoption of the standard will have on revenue. The Company is also continuing to evaluate the impact of the standard on its costs related to obtaining customer contracts (mainly sales commissions). In February 2016, the FASB issued ASU 2016-02. ASU 2016-02 changes the current lease accounting standard by requiring the recognition of lease assets and lease liabilities for all leases, including those currently classified as operating leases. This new guidance is to be applied under a modified retrospective application to the earliest reporting period presented for reporting periods beginning after December 15, 2018. Early adoption is permitted. The Company is currently evaluating the potential impact of this new guidance on its financial statements. In March 2016, the FASB issued ASU 2016-09 Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. This standard simplifies various aspects related to how share-based payments are accounted for and presented in the financial statements, including income taxes, forfeitures and statutory tax withholding requirements. The guidance is effective for the Company beginning in the first quarter of 2017. The Company adopted the updated standard in the first quarter of fiscal year 2017. As a result, the Company's deferred taxes and retained earnings increased by approximately $12,200. In June 2016, the FASB Issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The new standard requires financial assets measured at amortized cost be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The standard will be effective for the Company beginning January 1, 2020, with early application permitted. The Company is evaluating the impact of adopting this new accounting guidance on its consolidated financial statements . In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The new standard will address eight specific cash flow issues with the objective of reducing the existing diversity in practice in how certain transactions are presented and classified in the statement of cash flows. The standard will be effective for the Company beginning January 1, 2018, with early application permitted. The standard will require adoption on a retrospective basis unless it is impracticable to apply, in which case the Company would be required to apply the amendments prospectively as of the earliest date practicable. The Company is evaluating the impact of adopting this new accounting guidance on its consolidated financial statements. In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740); Intra-Entity Transfers of Assets Other than Inventory. This guidance was issued to improve the accounting for income tax consequences of intra-entity transfers of assets other than inventory. Under the amendment an entity should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The update is effective for annual periods beginning after December 15, 2017, and interim periods thereafter. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its consolidated financial statements. In January 2017, FASB issued ASU 2017-01, Business Combinations (Topic 805) Clarifying the Definition of Business. ASU 2017-01 clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The update to the standard is effective for interim and annual periods beginning after December 15, 2017, and applied prospectively. The Company is currently evaluating the impact of the adoption of ASU 2017-01 on its consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, simplifying the Test for Goodwill Impairment (Topic 350). This standard eliminates Step 2 from the goodwill impairment test, instead requiring an entity to recognize a goodwill impairment charge for the amount by which the goodwill carrying amount exceeds the reporting unit's fair value. This guidance is effective for interim and annual goodwill impairment tests in fiscal years beginning after December 15, 2019 with early adoption permitted. This guidance must be applied on a prospective basis. The Company is currently evaluating the potential effect of the guidance on its consolidated financial statements.

GENERAL (Tables)

GENERAL (Tables)	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Pro Forma Results	The following table presents unaudited pro forma revenue, net income and basic and diluted net income (loss) for periods presented assuming the acquisitions of Cybertinel, Viewfinity and Agata occurred on January 1, 2014. The pro forma information is not necessarily indicative of the results of operations, which actually would have occurred has the acquisitions been consummated on those dates, nor does it purport to represent the results of operations for future periods: December 31, 2014 2015 Pro forma revenue $ 108,517 $ 165,924 Pro forma net income $ 76 $ 18,725 Basic net income (loss) per ordinary share $ (0.28 ) $ 0.58 Diluted net income (loss) per ordinary share $ (0.28 ) $ 0.53

SIGNIFICANT ACCOUNTING POLICI25

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Schedule of Depreciation Rates	Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets at the following annual rates: % Computers and related equipment 25 - 33 Office furniture and equipment 7 - 20 Leasehold improvements Over the shorter of the related lease period or the life of the asset

MARKETABLE SECURITIES (Table)

MARKETABLE SECURITIES (Table)	12 Months Ended
	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Schedule of summarizes the amortized cost, unrealized gains and losses, and fair value of available-for-sale marketable securities	The following table summarizes the amortized cost, unrealized gains and losses, and fair value of available-for-sale marketable securities as of December 31, 2016: December 31, 2016 Amortized cost Gross unrealized losses *) Fair value Corporate debentures $ 32,734 $ (154 ) $ 32,580 U.S. Agencies debentures 2,457 (14 ) 2,443 Government treasuries 666 - 666 Total $ 35,857 $ (168 ) $ 35,689 *) Less than one year
Schedule of summarizes the amortized cost and fair value of available-for-sale marketable securities	The following table summarizes the amortized cost and fair value of available-for-sale marketable securities as of ended December 31, 2016, by contractual years-to maturity: December 31, 2016 Amortized cost Fair value Due within one year $ 15,269 $ 15,246 Due between one and four years 20,588 20,443 $ 35,857 $ 35,689

PREPAID EXPENSES AND OTHER CU27

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	12 Months Ended
	Dec. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepaid Expenses And Other Current Assets	December 31, 2015 2016 Prepaid expenses $ 2,154 $ 3,169 Hedging transaction assets 155 379 Government authorities 694 947 Other current assets 290 309 $ 3,293 $ 4,804

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Schedule of Property And Equipment	The composition of property and equipment is as follows: December 31, 2015 2016 Cost: Computers and related equipment $ 3,712 $ 5,792 Leasehold improvements 1,092 1,621 Office furniture and equipment 1,095 1,353 5,899 8,766 Less - accumulated depreciation 2,315 4,006 Depreciated cost $ 3,584 $ 4,760

INTANGIBLE ASSETS, NET (Tables)

INTANGIBLE ASSETS, NET (Tables)	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	The composition of intangible assets is as follows: December 31, 2015 2016 Original amount: Technology $ 14,073 $ 14,073 Customer relationships 5,120 5,120 Other 490 490 19,683 19,683 Accumulated amortization: Technology 1,053 4,211 Customer relationships 2 1,137 Other 70 300 1,125 5,648 Intangible assets, net $ 18,558 $ 14,035
Schedule of Future Amortization Expense	The estimated future amortization expense of intangible assets as of December 31, 2016 is as follows: 2017 $ 4,355 2018 4,064 2019 3,083 2020 1,408 2021 326 Thereafter 799 $ 14,035

ACCRUED EXPENSES AND OTHER CU30

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2016
Payables and Accruals [Abstract]
Schedule of Accrued Expenses And Other Current Liabilities	December 31, 2015 2016 Government authorities $ 7,131 $ 3,722 Accrued expenses 1,730 2,602 Unrecognized tax benefits 362 474 Hedging transaction liabilities 143 78 $ 9,366 $ 6,876

COMMITMENTS AND CONTINGENT LI31

COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of Minimum Rental Payments	The minimum lease payments under operating leases as of December 31, 2016 are as follows: Lease of premises Lease of motor vehicles 2017 $ 3,940 $ 268 2018 3,920 193 2019 4,042 105 2020 4,050 - 2021 4,057 Thereafter 2,632 - $ 22,641 $ 566

FAIR VALUE MESUREMENTS (Table)

FAIR VALUE MESUREMENTS (Table)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of fair value of financial assets and liabilities	December 31, 2016 Level 1 Level 2 Total Cash equivalents: Money market funds $ 1,906 $ - $ 1,906 Marketable securities: Corporate debentures - 32,580 32,580 U.S. Agencies debentures - 2,443 2,443 Government treasuries - 666 666 Total assets measured at fair value $ 1,906 $ 35,689 $ 37,595

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Shares Capital	December 31, 2015 December 31, 2016 Authorized Issued and outstanding Authorized Issued and outstanding Number of shares Ordinary shares of NIS 0.01 par value each 250,000,000 33,289,839 250,000,000 34,250,590
Schedule of Share Based Compensation Expense	The total share-based compensation expense related to all of the Company's equity-based awards, recognized for the years ended December 31, 2014, 2015 and 2016 is comprised as follows: Year ended December 31, 2014 2015 2016 Cost of revenues $ 137 $ 499 $ 1,386 Research and development 172 1 4,660 Sales and marketing 347 2,214 5,765 General and administrative 917 2,829 5,724 Total share-based compensation expense $ 1,573 $ 7,049 $ 17,535
Schedule of Stock Option Activity	A summary of the activity in options granted to employees for the year ended December 31, 2016 is as follows: Amount of options Weighted average exercise price Weighted average remaining contractual term (in years) Aggregate intrinsic value Balance as of December 31, 2015 3,358,875 $ 14.27 6.54 $ 111,093 Granted 569,300 $ 43.39 Exercised (837,835 ) $ 2.99 Forfeited (51,983 ) $ 28.91 Balance as of December 31, 2016 3,038,357 $ 22.58 6.70 $ 77,346 Exercisable as of December 31, 2016 1,924,816 $ 11.00 5.52 $ 69,420 Vested and expected to vest as of December 31, 2016 3,005,577 $ 22.36 6.68 $ 77,144
Schedule of Fair Value Assumptions	The following table set forth the parameters used in computation of the options compensation to employees for the years ended December 31, 2014, 2015 and 2016: Year ended December 31, 2014 2015 2016 Expected volatility 45 % 45 % 45 % Expected dividends 0 0 0 Expected term (in years) 5.81-6.11 5.78-6.12 5.25-6.10 Risk free rate 1.55%-2.02 % 1.37%-1.68 % 1.30%- 1.70 %
Schedule of Options Data	A summary of options data for the years ended December 31, 2014, 2015 and 2016, is as follows: Year ended December 31, 2014 2015 2016 Weighted-average grant date fair value of options granted $ 6.95 $ 24.56 $ 19.16 Total intrinsic value of the options exercised $ 9,943 $ 110,191 $ 37,618
Schedule of Outstanding and Exercisable Options	Exercise price Options outstanding as of December 31, 2016 Weighted average remaining contractual term Options exercisable as of December 31, 2016 Weighted average remaining contractual term (years) (years) $0.20 – 2.21 1,297,621 4.36 1,284,815 4.34 $6.47 – 14.00 495,676 7.24 343,650 7.24 $37.44 – 44.37 264,180 9.08 14,886 8.31 $45.58 – 51.86 517,244 9.23 90,832 9.01 $55.30 – 64.93 463,636 8.50 190,633 8.49 3,038,357 6.70 1,924,816 5.52
Schedule of RSU Activity	A summary of RSU activity for the year ended December 31, 2016, is as follows: Amount of RSU's Weighted average grant date fair value Unvested as of December 31, 2015 396,910 $ 53.44 Granted 487,600 $ 44.96 Vested (122,916 ) $ 52.59 Forfeited (31,889 ) $ 48.43 Unvested as of December 31, 2016 729,705 $ 48.14

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Income Before Income Taxes	Income before taxes on income is comprised as follows: Year ended December 31, 2014 2015 2016 Domestic $ 13,194 $ 28,285 $ 32,077 Foreign 1,272 3,458 4,124 $ 14,466 $ 31,743 $ 36,201
Schedule of Deferred Tax Assets and Liabilities	Significant components of the Company's deferred tax assets and liabilities are as follows: December 31, 2015 2016 Deferred tax assets: Net operating loss carry-forwards $ 5,584 $ 1,956 Capital losses carry-forwards 52 50 Research and development expenses 2,945 4,119 Deferred revenues 3,760 4,222 Issuance expenses 790 124 Share-based compensation 549 2,979 Accruals and other 1,590 1,612 Deferred tax assets before valuation allowance 15,270 15,062 Valuation allowance 52 50 Deferred tax asset $ 15,218 $ 15,012 Deferred tax liabilities: Intangible assets $ 5,761 $ 3,961 Property and equipment depreciation and other 213 662 Deferred tax liabilities $ 5,974 $ 4,623
Schedule of Income Taxes	Income taxes are comprised as follows: Year ended December 31, 2014 2015 2016 Current $ 4,467 $ 10,042 $ 9,207 Deferred 45 (4,093 ) (1,130 ) $ 4,512 $ 5,949 $ 8,077 Year ended December 31, 2014 2015 2016 Domestic $ 2,485 $ 5,208 $ 4,906 Foreign 2,027 741 3,171 $ 4,512 $ 5,949 $ 8,077
Schedule of Reconciliation of Income Taxes	A reconciliation of the Company's theoretical income tax expense to actual income tax expense is as follows: Year ended December 31, 2014 2015 2016 Income before income taxes $ 14,466 $ 31,743 $ 36,201 Statutory tax rate 26.5 % 26.5 % 25.0 % Theoretical income tax expense 3,833 8,412 9,050 Utilization of tax losses and deferred taxes for which valuation allowance was provided, net (143 ) (771 ) (72 ) Deferred taxes on losses for which valuation allowance was provided, net 834 (1,713 ) - Non-deductible expenses 1,165 2,295 2,569 Unrecognized tax expense 19 8 81 Foreign and preferred enterprise tax rates differential (838 ) (2,303 ) (3,468 ) Other (358 ) 21 (83 ) Income tax expense $ 4,512 $ 5,949 $ 8,077
Schedule of Unrecognized Tax Benefits	A reconciliation of the opening and closing amounts of total unrecognized tax benefits is as follows: Year ended December 31, 2015 2016 Opening balance $ 322 $ 362 Increase related to prior year tax positions 4 53 Increase related to current year tax positions 36 59 Closing balance $ 362 $ 474

FINANCIAL INCOME (EXPENSES), 35

FINANCIAL INCOME (EXPENSES), NET (Tables)	12 Months Ended
	Dec. 31, 2016
Other Income and Expenses [Abstract]
Schedule of Financial Income (Expenses)	Year ended December 31, 2014 2015 2016 Bank charges $ (63 ) $ (86 ) $ (144 ) Changes in fair value of warrants to purchase preferred shares (4,309 ) - - Exchange rate loss, net (1,817 ) (1,723 ) (969 ) Total expenses (6,189 ) (1,809 ) (1,113 ) Interest income 201 330 1,358 Financial income (expenses), net $ (5,988 ) $ (1,479 ) $ 245

BASIC AND DILUTED NET INCOME 36

BASIC AND DILUTED NET INCOME PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Income per Share	Year ended December 31, 2014 2015 2016 Numerator: Net income $ 9,954 $ 25,794 $ 28,124 Dividends accumulated for the period (3,815 ) - - Net income available to shareholders of ordinary shares $ 6,139 $ 25,794 $ 28,124 Denominator: Shares used in computing net income per ordinary shares, basic 13,335,059 32,124,772 33,741,359 Year ended December 31, 2014 2015 2016 Numerator: Net income available to shareholders of ordinary shares $ 9,954 $ 25,794 $ 28,124 Denominator: Shares used in computing net income per ordinary shares, diluted 29,704,730 35,322,716 35,838,863

SEGMENTS, CUSTOMERS AND GEOGR37

SEGMENTS, CUSTOMERS AND GEOGRAPHIC INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Schedule of Revenue by Geographic Location	The following tables present total revenues for the years ended December 31, 2014, 2015 and 2016 and long-lived assets as of December 31, 2015 and 2016: Revenues: Year ended December 31, 2014 2015 2016 United States $ 60,761 $ 92,034 $ 125,749 Israel 4,234 5,203 6,818 United Kingdom 12,220 16,746 21,699 EMEA *) 16,744 28,695 39,577 Other 9,040 18,134 22,770 $ 102,999 $ 160,812 $ 216,613
Schedule of Long-Lived Assets by Geographic Location	For the years ended December 31, 2014 and 2015, no single customer contributed more than 10% to the Company's total revenues. For the year ended December 31, 2016, 12.1% of the Company's total revenues was derived from one channel partner. Long-lived assets: December 31, 2015 2016 United States $ 929 $ 1,421 Israel 2,418 3,014 United Kingdom 155 90 EMEA *) 22 24 Other 60 211 $ 3,584 $ 4 760 *) Europe, the Middle East and Africa, excluding United Kingdom and Israel

GENERAL (Narrative) (Details)

GENERAL (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended						12 Months Ended
	Oct. 31, 2015	Sep. 30, 2015	Aug. 31, 2015	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
General [Line Items]
Ordinary shares issued for service				4,000,000	4,600,000
Public offering price					$ 51
Total net proceeds received from offering								$ 52,575	$ 88,468
Acquisition costs							$ 677
IPO [Member]
General [Line Items]
Ordinary shares issued for service						6,164,000
Public offering price						$ 16
Total net proceeds received from offering						$ 88,468
Underwriting discounts and commissions						6,904
Other offering expense						$ 3,846
Secondary Offering [Member]
General [Line Items]
Ordinary shares issued for service				900,000
Public offering price				$ 61
Total net proceeds received from offering				$ 52,575
Underwriting discounts and commissions				2,196
Other offering expense				$ 129
Cybertinel [Member]
General [Line Items]
Total consideration			$ 20,515
ViewFinity [Member]
General [Line Items]
Total consideration	$ 30,500
Agata [Member]
General [Line Items]
Total consideration		$ 3,112

GENERAL (Schedule of Pro Forma

GENERAL (Schedule of Pro Forma Results) (Details) - Cybertinel View Finity And Agata [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Pro forma revenue	$ 165,924	$ 108,517
Pro forma net income	$ 18,725	$ 76
Basic net income (loss) per ordinary share	$ 0.58	$ (0.28)
Diluted net income (loss) per ordinary share	$ 0.53	$ (0.28)

SIGNIFICANT ACCOUNTING POLICI40

SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Significant Accounting Policies [Line Items]
Weighted average interest rates, bank deposit	1.26%	0.40%
Employees entitled severance monthly deposit, as a percentage of salary	8.33%
Severance expense	$ 2,503	$ 1,794	$ 1,187
Marketing expenses	$ 10,622	$ 7,498	$ 5,896
Antidilutive securities excluded from computation of earnings per share, amount	1,381,114	484,726	437,176
Changes in fair value of warrants to purchase preferred shares			$ 4,309
Deferred taxes and retained earnings increased	$ 12,200
United States [Member]
Significant Accounting Policies [Line Items]
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	60.00%
Maximum annual contribution per employee	$ 18
Matching contribution expense	1,259	907	544
United States [Member] | Employees Over Fifty Years [Member]
Significant Accounting Policies [Line Items]
Maximum annual contribution per employee	$ 24
United States [Member] | First 3% of Employee Contribution [Member]
Significant Accounting Policies [Line Items]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	100.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	3.00%
United States [Member] | Next 2% of Employee Contribution [Member]
Significant Accounting Policies [Line Items]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	50.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	2.00%
Foreign Exchange Forward and Option [Member]
Significant Accounting Policies [Line Items]
Accumulated other comprehensive loss from currency forward and option transactions	$ 34	93
Accumulated other comprehensive loss from currency forward and option transactions, tax	6	18
Notional amounts	17,800
Fair value of derivative asset	347	139
Foreign Exchange Forward and Option [Member] | Derivative Liabilities [Member]
Significant Accounting Policies [Line Items]
Fair value of derivative liability	72	130
Foreign Exchange Forward [Member]
Significant Accounting Policies [Line Items]
Notional amounts	6,698
Financial expenses from hedging transaction, net	270	260	$ 35
Foreign Exchange Forward [Member] | Derivative Liabilities [Member]
Significant Accounting Policies [Line Items]
Fair value of derivative liability	6	13
Foreign Exchange Forward [Member] | Derivative Assets [Member]
Significant Accounting Policies [Line Items]
Fair value of derivative asset	$ 32	$ 16
Minimum [Member]
Significant Accounting Policies [Line Items]
Intangible assets, useful life	1 year
Maximum [Member]
Significant Accounting Policies [Line Items]
Intangible assets, useful life	13 years

SIGNIFICANT ACCOUNTING POLICI41

SIGNIFICANT ACCOUNTING POLICIES (Schedule of Depreciation Rates) (Details)	12 Months Ended
	Dec. 31, 2016
Computers and Related Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment annual depreciation rate	25.00%
Computers and Related Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment annual depreciation rate	33.00%
Office Furniture And Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment annual depreciation rate	7.00%
Office Furniture And Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment annual depreciation rate	20.00%

MARKETABLE SECURITIES (Schedule

MARKETABLE SECURITIES (Schedule of amortized cost, unrealized gains and losses, and fair value of available-for-sale) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Amortized cost	$ 35,857
Gross unrealized gains
Gross unrealized losses	(168)
Fair value	35,689
Corporate debentures [Member]
Amortized cost	32,734
Gross unrealized gains
Gross unrealized losses	(154)
Fair value	32,580
U.S. Agencies debentures [Member]
Amortized cost	2,457
Gross unrealized gains
Gross unrealized losses	(14)
Fair value	2,443
Government treasuries [Member]
Amortized cost	666
Gross unrealized gains
Gross unrealized losses
Fair value	$ 666

MARKETABLE SECURITIES (Schedu43

MARKETABLE SECURITIES (Schedule of amortized cost and fair value of available-for-sale marketable securities) (Details) $ in Thousands	Dec. 31, 2016USD ($)
Amortized cost
Due within one year	$ 15,269
Due between one and 4 years	20,588
Amortized cost	35,857
Fair value
Due within one year	15,246
Due between one and 4 years	20,443
Amortized cost	$ 35,689

PREPAID EXPENSES AND OTHER CU44

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses	$ 3,169	$ 2,154
Hedging transaction assets	379	155
Government authorities	947	694
Other current assets	309	290
Prepaid expenses and other current assets	$ 4,804	$ 3,293

PROPERTY AND EQUIPMENT, NET (Sc

PROPERTY AND EQUIPMENT, NET (Schedule of Property and Equipment) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 8,766	$ 5,899
Less accumulated depreciation	4,006	2,315
Depreciated cost	4,760	3,584
Computers and Related Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	5,792	3,712
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	1,621	1,092
Office Furniture And Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 1,353	$ 1,095

PROPERTY AND EQUIPMENT, NET (Na

PROPERTY AND EQUIPMENT, NET (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 1,965	$ 1,129	$ 746

INTANGIBLE ASSETS, NET (Narrati

INTANGIBLE ASSETS, NET (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 4,523	$ 1,125

INTANGIBLE ASSETS, NET (Schedul

INTANGIBLE ASSETS, NET (Schedule of Intangible Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Original amount	$ 19,683	$ 19,683
Accumulated amortization	5,648	1,125
Intangible assets, net	14,035	18,558
Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Original amount	14,073	14,073
Accumulated amortization	4,211	1,053
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Original amount	5,120	5,120
Accumulated amortization	1,137	2
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Original amount	490	490
Accumulated amortization	$ 300	$ 70

INTANGIBLE ASSETS, NET (Sched49

INTANGIBLE ASSETS, NET (Schedule of Future Amortization Expense) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
2,017	$ 4,355
2,018	4,064
2,019	3,083
2,020	1,408
2,021	326
Thereafter	799
Intangible assets, net	$ 14,035	$ 18,558

ACCRUED EXPENSES AND OTHER CU50

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Payables and Accruals [Abstract]
Government authorities	$ 3,722	$ 7,131
Accrued expenses	2,602	1,730
Unrecognized tax benefits	474	362
Hedging transaction liabilities	78	143
Accrued expenses and other current liabilities	$ 6,876	$ 9,366

COMMITMENTS AND CONTINGENT LI51

COMMITMENTS AND CONTINGENT LIABILITIES (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating Leased Assets [Line Items]
Rent expenses	$ 3,649	$ 2,653	$ 2,309
Pledged bank deposit for office lease agreement and hedging transaction	1,236
Bank guarantee, office lease agreement	1,045
Lease of Motor Vehicles [Member]
Operating Leased Assets [Line Items]
Rent expenses	$ 511	$ 435	$ 369

COMMITMENTS AND CONTINGENT LI52

COMMITMENTS AND CONTINGENT LIABILITIES (Schedule of Minimum Rental Payments) (Details) $ in Thousands	Dec. 31, 2016USD ($)
Rental of Premises [Member]
Property Subject to or Available for Operating Lease [Line Items]
2,017	$ 3,940
2,018	3,920
2,019	4,042
2,020	4,050
2,021	4,057
Thereafter	2,632
Total	22,641
Lease of Motor Vehicles [Member]
Property Subject to or Available for Operating Lease [Line Items]
2,017	268
2,018	193
2,019	105
2,020
2,021
Thereafter
Total	$ 566

FAIR VALUE MEASUREMENTS (Schedu

FAIR VALUE MEASUREMENTS (Schedule of fair value of financial assets and liabilities) (Details) $ in Thousands	Dec. 31, 2016USD ($)
Total assets measured at fair value	$ 37,595
Corporate debentures [Member]
Marketable securities	32,580
U.S. Agencies debentures [Member]
Marketable securities	2,443
Government treasuries [Member]
Marketable securities	666
Cash equivalent and Money market funds [Member]
Cash equivalents	1,906
Level 1 [Member]
Total assets measured at fair value	1,906
Level 1 [Member] | Corporate debentures [Member]
Marketable securities
Level 1 [Member] | U.S. Agencies debentures [Member]
Marketable securities
Level 1 [Member] | Government treasuries [Member]
Marketable securities
Level 1 [Member] | Cash equivalent and Money market funds [Member]
Cash equivalents	1,906
Level 2 [Member]
Total assets measured at fair value	35,689
Level 2 [Member] | Corporate debentures [Member]
Marketable securities	32,580
Level 2 [Member] | U.S. Agencies debentures [Member]
Marketable securities	2,443
Level 2 [Member] | Government treasuries [Member]
Marketable securities	666
Level 2 [Member] | Cash equivalent and Money market funds [Member]
Cash equivalents

SHAREHOLDERS' EQUITY (Narrative

SHAREHOLDERS' EQUITY (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share based compensation number of shares available for grant	725,620
Share based compensation expiration period	10 years
Share based compensation vesting period	4 years
Unrecognized share based compensation expense	$ 46,059
Unrecognized share based compensation expense recognition period	2 years 7 months 2 days
Warrants donated				15,000
Warrants exercise price				$ 2.21
Expected dividend yield	0.00%	0.00%	0.00%
Fair value of shares per share	$ 45.50
Total fair value of RSU's vested	$ 5,981	$ 998

SHAREHOLDERS' EQUITY (Schedule

SHAREHOLDERS' EQUITY (Schedule of Shares Capital) (Details) - ₪ / shares	Dec. 31, 2016	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Ordinary Shares Authorized	250,000,000	250,000,000
Ordinary shares, issued	34,250,590	33,289,839
Ordinary shares, outstanding	34,250,590	33,289,839
Ordinary shares, par value	₪ 0.01	₪ 0.01

SHAREHOLDERS' EQUITY (Schedul56

SHAREHOLDERS' EQUITY (Schedule of Share Based Compensation Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 17,535	$ 7,049	$ 1,573
Cost of Revenues [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	1,386	499	137
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	4,660	1,507	172
Selling and Marketing Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	5,765	2,214	347
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 5,724	$ 2,829	$ 917

SHAREHOLDERS' EQUITY (Schedul57

SHAREHOLDERS' EQUITY (Schedule of Stock Option Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Amount of options
Beginning balance	3,358,875
Granted	569,300
Exercised	(837,835)
Forfeited	(51,983)
Ending balance	3,038,357	3,358,875
Exercisable as of December 31, 2016	3,038,357
Vested and expected to vest as of December 31, 2016	3,005,577
Weighted average exercise price
Beginning balance	$ 14.27
Granted	43.39
Exercised	2.99
Forfeited	28.91
Ending balance	22.58	$ 14.27
Exercisable as of December 31, 2016	11
Vested and expected to vest as of December 31, 2016	$ 22.36
Weighted average remaining contractual term (in years)
Options outstanding	6 years 8 months 12 days	6 years 6 months 15 days
Exercisable as of December 31, 2016	6 years 8 months 12 days
Vested and expected to vest as of December 31, 2016	6 years 8 months 12 days
Aggregate intrinsic value
Options outstanding	$ 77,346	$ 111,093
Exercisable as of December 31, 2016	69,420
Vested and expected to vest as of December 31, 2016	$ 77,144

SHAREHOLDERS' EQUITY (Schedul58

SHAREHOLDERS' EQUITY (Schedule of Fair Value Assumptions) (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	45.00%	45.00%	45.00%
Expected dividends	0.00%	0.00%	0.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	5 years 3 months	5 years 9 months 11 days	5 years 9 months 22 days
Risk free rate	1.30%	1.37%	1.55%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 years 1 month 6 days	6 years 1 month 13 days	6 years 1 month 10 days
Risk free rate	1.70%	1.68%	2.02%

SHAREHOLDERS' EQUITY (Schedul59

SHAREHOLDERS' EQUITY (Schedule of Options Data) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Weighted-average grant date fair value of options granted	$ 19.16	$ 24.56	$ 6.95
Total intrinsic value of the options exercised	$ 37,618	$ 110,191	$ 9,943

SHAREHOLDERS' EQUITY (Schedul60

SHAREHOLDERS' EQUITY (Schedule of Outstanding and Exercisable Options) (Details)	12 Months Ended
	Dec. 31, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding	1,924,816
Weighted average remaining contractual term (years)	5 years 6 months 7 days
Options exercisable	3,038,357
Weighted average remaining contractual term (years)	6 years 8 months 12 days
$0.20 - 2.21 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price, minimum | $ / shares	$ 0.20
Exercise price, maximum | $ / shares	$ 2.21
Options outstanding	1,284,815
Weighted average remaining contractual term (years)	4 years 4 months 2 days
Options exercisable	1,297,621
Weighted average remaining contractual term (years)	4 years 4 months 10 days
$6.47 - 14.00 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price, minimum | $ / shares	$ 6.47
Exercise price, maximum | $ / shares	$ 14
Options outstanding	343,650
Weighted average remaining contractual term (years)	7 years 2 months 27 days
Options exercisable	495,676
Weighted average remaining contractual term (years)	7 years 2 months 27 days
$37.44 - 44.37 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price, minimum | $ / shares	$ 37.44
Exercise price, maximum | $ / shares	$ 44.37
Options outstanding	14,886
Weighted average remaining contractual term (years)	8 years 3 months 22 days
Options exercisable	264,180
Weighted average remaining contractual term (years)	9 years 29 days
$45.58 - 51.86 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price, minimum | $ / shares	$ 45.58
Exercise price, maximum | $ / shares	$ 51.86
Options outstanding	90,832
Weighted average remaining contractual term (years)	9 years 4 days
Options exercisable	517,244
Weighted average remaining contractual term (years)	9 years 2 months 23 days
$55.30 - 64.93 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price, minimum | $ / shares	$ 55.30
Exercise price, maximum | $ / shares	$ 64.93
Options outstanding	190,633
Weighted average remaining contractual term (years)	8 years 5 months 27 days
Options exercisable	463,636
Weighted average remaining contractual term (years)	8 years 6 months

SHAREHOLDERS' EQUITY (Schedul61

SHAREHOLDERS' EQUITY (Schedule of RSU Activity) (Details)	12 Months Ended
	Dec. 31, 2016$ / sharesshares
Amount of RDU's
Unvested at beginning of period, shares | shares	396,910
Granted, shares | shares	487,600
Vested, shares | shares	(122,916)
Forfeited, shares | shares	(31,889)
Unvested at ending of period, shares | shares	729,705
Weighted average grant date fair value
Unvested at beginning of period, weighted average grant date fair value | $ / shares	$ 53.44
Unvested weighted average grant date fair value, Granted | $ / shares	44.96
Unvested weighted average grant date fair value, Vested | $ / shares	52.59
Unvested weighted average grant date fair value, Forfeited | $ / shares	48.43
Unvested at ending of period, weighted average grant date fair value | $ / shares	$ 48.14

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) $ in Thousands, ₪ in Billions	Jan. 05, 2016	Dec. 31, 2016USD ($)	Jan. 31, 2014	Dec. 31, 2018	Dec. 31, 2016USD ($)	Dec. 31, 2016ILS (₪)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2012
Operating Loss Carryforwards [Line Items]
Corporate tax rate in effect					25.00%	25.00%	26.50%	26.50%
Operating loss carry-forwards		$ 36,227			$ 36,227
Capital tax losses		219			219
Tax exempt profits					13,077
Income tax liability that would have been incurred if the Company's retained tax-exempt income is distributed		$ 3,211			3,211
Excess tax benefits related to share based compensation					$ 30,041
Foreign tax rate					4.00%	4.00%
Consolidated revenue threshhold for technological preferred enterprise taxation | ₪						₪ 10
Subsequent Event [Member]
Operating Loss Carryforwards [Line Items]
Reduced tax rate				23.00%
Approved enterprise [Member]
Operating Loss Carryforwards [Line Items]
Income tax holiday, description					The Company has been granted "Approved Enterprise" Status, under the above Law. The Company has elected the alternative benefits program, waiver of grants in return for tax exemptions. Pursuant thereto, the income of the Company derived from the "Approved Enterprise" program is tax-exempt for two years and will enjoy a reduced tax rate of 10%-25% for up to a total of eight years (subject to an adjustment based upon the foreign investors' ownership of the Company).	The Company has been granted "Approved Enterprise" Status, under the above Law. The Company has elected the alternative benefits program, waiver of grants in return for tax exemptions. Pursuant thereto, the income of the Company derived from the "Approved Enterprise" program is tax-exempt for two years and will enjoy a reduced tax rate of 10%-25% for up to a total of eight years (subject to an adjustment based upon the foreign investors' ownership of the Company).
Development Zone A [Member]
Operating Loss Carryforwards [Line Items]
Reduced tax rate							6.00%	7.00%	10.00%
Area outside of development zone [Member]
Operating Loss Carryforwards [Line Items]
Reduced tax rate							12.00%	12.50%	15.00%
Minimum [Member]
Operating Loss Carryforwards [Line Items]
Reduced tax rate	26.50%
Effective tax rate		7.50%
Minimum [Member] | Approved enterprise [Member]
Operating Loss Carryforwards [Line Items]
Reduced tax rate					10.00%	10.00%
Maximum [Member]
Operating Loss Carryforwards [Line Items]
Reduced tax rate	25.00%
Effective tax rate		9.00%
Other areas [Member]
Operating Loss Carryforwards [Line Items]
Effective tax rate		16.00%
Israel Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Corporate tax rate in effect			24.00%
Reduced tax rate					25.00%	25.00%	26.50%	26.50%
Israel [Member]
Operating Loss Carryforwards [Line Items]
Corporate tax rate in effect					12.00%	12.00%
Operating loss carry-forwards		$ 2,727			$ 2,727
Capital tax losses		219			219
U.S. [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carry-forwards		$ 33,500			$ 33,500
Operating loss carry-forwards, expiration term					20 years	20 years
Development Zone A [Member]
Operating Loss Carryforwards [Line Items]
Reduced tax rate					7.50%	7.50%

INCOME TAXES (Schedule of Incom

INCOME TAXES (Schedule of Income Before Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Domestic	$ 32,077	$ 28,285	$ 13,194
Foreign	4,124	3,458	1,272
Income before taxes on income	$ 36,201	$ 31,743	$ 14,466

INCOME TAXES (Schedule of Defer

INCOME TAXES (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
Net operating loss carry-forwards	$ 1,956	$ 5,584
Capital losses carry-forwards	50	52
Research and development expenses	4,119	2,945
Deferred revenues	4,222	3,760
Issuance expenses	124	790
Share-based compensation	2,979	549
Accruals and other	1,612	1,590
Deferred tax assets before valuation allowance	15,062	15,270
Valuation allowance	50	52
Deferred tax asset	15,012	15,218
Deferred tax liabilities:
Intangible assets	3,961	5,761
Property and equipment depreciation and other	662	213
Deferred tax liabilities	$ 4,623	$ 5,974

INCOME TAXES (Schedule of Inc65

INCOME TAXES (Schedule of Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Current	$ 9,207	$ 10,042	$ 4,467
Deferred	(1,130)	(4,093)	45
Domestic	4,906	5,208	2,485
Foreign	3,171	741	2,027
Income tax expense	$ 8,077	$ 5,949	$ 4,512

INCOME TAXES (Schedule of Recon

INCOME TAXES (Schedule of Reconciliation of Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Income before income taxes	$ 36,201	$ 31,743	$ 14,466
Statutory tax rate	25.00%	26.50%	26.50%
Theoretical income tax expense	$ 9,050	$ 8,412	$ 3,833
Utilization of tax losses and deferred taxes for which valuation allowance was provided, net	(72)	(771)	(143)
Deferred taxes on losses for which valuation allowance was provided, net		(1,713)	834
Non-deductible expenses	2,569	2,295	1,165
Unrecognized tax expense	81	8	19
Foreign and preferred enterprise tax rates differential	(3,468)	(2,303)	(838)
Other	(83)	21	(358)
Income tax expense	$ 8,077	$ 5,949	$ 4,512

INCOME TAXES (Schedule of Unrec

INCOME TAXES (Schedule of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Opening balance	$ 362	$ 322
Increase related to prior year tax positions	53	4
Increase related to current year tax positions	59	36
Closing balance	$ 474	$ 362

FINANCIAL INCOME (EXPENSES), 68

FINANCIAL INCOME (EXPENSES), NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Other Income and Expenses [Abstract]
Bank charges	$ (144)	$ (86)	$ (63)
Changes in fair value of warrants to purchase preferred shares			(4,309)
Exchange rate loss, net	(969)	(1,723)	(1,817)
Total expenses	(1,113)	(1,809)	(6,189)
Interest income	1,358	330	201
Financial income (expenses), net	$ 245	$ (1,479)	$ (5,988)

BASIC AND DILUTED NET INCOME 69

BASIC AND DILUTED NET INCOME PER SHARE (Schedule of Basic Income per Share) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Numerator:
Net income	$ 28,124	$ 25,794	$ 9,954
Dividends accumulated for the period			(3,815)
Net income available to shareholders of ordinary shares	$ 28,124	$ 25,794	$ 6,139
Denominator:
Shares used in computing net income per ordinary shares, basic	33,741,359	32,124,772	13,335,059

BASIC AND DILUTED NET INCOME 70

BASIC AND DILUTED NET INCOME PER SHARE (Schedule of Diluted Income per Share) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Numerator:
Net income available to shareholders of ordinary shares	$ 28,124	$ 25,794	$ 9,954
Denominator:
Shares used in computing net income per ordinary shares, diluted	35,838,863	35,322,716	29,704,730

SEGMENTS, CUSTOMERS AND GEOGR71

SEGMENTS, CUSTOMERS AND GEOGRAPHIC INFORMATION (Narrative) (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
One channel partner [Member]
Segment Reporting Information [Line Items]
Revenue Percentage	12.10%
No Single Customer [Member]
Segment Reporting Information [Line Items]
Revenue Percentage		10.00%	10.00%

SEGMENTS, CUSTOMERS AND GEOGR72

SEGMENTS, CUSTOMERS AND GEOGRAPHIC INFORMATION (Schedule of Revenue by Geographic Location) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Revenue		$ 216,613	$ 160,812	$ 102,999
United States [Member]
Segment Reporting Information [Line Items]
Revenue		125,749	92,034	60,761
Israel [Member]
Segment Reporting Information [Line Items]
Revenue		6,818	5,203	4,234
United Kingdom [Member]
Segment Reporting Information [Line Items]
Revenue		21,699	16,746	12,220
EMEA [Member]
Segment Reporting Information [Line Items]
Revenue	[1]	39,577	28,695	16,744
Other [Member]
Segment Reporting Information [Line Items]
Revenue		$ 22,770	$ 18,134	$ 9,040
[1]	Europe, the Middle East and Africa excluding United Kingdom and Israel

SEGMENTS, CUSTOMERS AND GEOGR73

SEGMENTS, CUSTOMERS AND GEOGRAPHIC INFORMATION (Schedule of Long-Lived Assets by Geographic Location) (Details) - USD ($) $ in Thousands		Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Long lived assets		$ 4,760	$ 3,584
United States [Member]
Segment Reporting Information [Line Items]
Long lived assets		1,421	929
Israel [Member]
Segment Reporting Information [Line Items]
Long lived assets		3,014	2,418
United Kingdom [Member]
Segment Reporting Information [Line Items]
Long lived assets		90	155
EMEA [Member]
Segment Reporting Information [Line Items]
Long lived assets	[1]	24	22
Other [Member]
Segment Reporting Information [Line Items]
Long lived assets		$ 211	$ 60
[1]	Europe, the Middle East and Africa excluding United Kingdom and Israel