ReWalk Robotics (LFWD) 10-Q 10 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 02, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	ReWalk Robotics Ltd.
Entity Central Index Key	1,607,962
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		12,371,415
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 21,809	$ 17,869
Trade receivable, net of allowance for doubtful accounts of $117 and $144 as of March 31, 2016 and December 31, 2015, respectively	2,441	2,146
Prepaid expenses and other current assets	1,469	1,227
Inventories	3,060	2,534
Total current assets	28,779	23,776
LONG-TERM ASSETS
Other long term assets	1,026	470
Property and equipment, net	1,294	1,328
Total long-term assets	2,320	1,798
Total assets	31,099	25,574
CURRENT LIABILITIES:
Current maturities of long term loan	2,626	0
Trade payables	2,852	2,474
Employees and payroll accruals	1,139	1,221
Deferred revenues and customers advances	224	199
Other current liabilities	459	449
Total current liabilities	7,300	4,343
LONG-TERM LIABILITIES
Long term loan, net of current maturities	7,515	0
Deferred revenues	190	171
Other long-term liabilities	180	140
Total long-term liabilities	7,885	311
Total liabilities	$ 15,185	$ 4,654
COMMITMENTS AND CONTINGENT LIABILITIES
Share capital
Ordinary share of NIS 0.01 par value-Authorized: 250,000,000 shares at March 31, 2016 and December 31, 2015; Issued and outstanding: 12,367,161 and 12,222,583 shares at March 31, 2016 and December 31, 2015, respectively	$ 33	$ 33
Additional paid-in capital	96,792	94,876
Accumulated deficit	(80,911)	(73,989)
Total shareholders’ equity	15,914	20,920
Total liabilities and shareholders’ equity	$ 31,099	$ 25,574

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) $ in Thousands	Mar. 31, 2016USD ($)shares	Mar. 31, 2016₪ / shares	Dec. 31, 2015USD ($)shares	Dec. 31, 2015₪ / shares
Statement of Financial Position [Abstract]
Trade receivable, allowance for doubtful accounts | $	$ 117		$ 144
Ordinary shares, par value (in USD per share) | ₪ / shares		₪ 0.01		₪ 0.01
Ordinary shares, shares authorized	250,000,000		250,000,000
Ordinary shares, shares Issued	12,367,161		12,222,583
Ordinary shares, shares outstanding	12,367,161		12,222,583

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Revenues	$ 2,061	$ 635
Cost of revenues	1,568	602
Gross profit	493	33
Operating expenses:
Research and development	1,695	1,537
Sales and marketing	3,299	2,518
General and administration	1,914	1,499
Total operating expenses	6,908	5,554
Operating loss	(6,415)	(5,521)
Financial expenses, net	489	169
Loss before income taxes	(6,904)	(5,690)
Income taxes	18	16
Net loss	$ (6,922)	$ (5,706)
Net loss per ordinary share, basic and diluted (in USD per share)	$ (0.56)	$ (0.48)
Weighted average number of shares used in computing net loss per ordinary share, basic and diluted (in shares)	12,323,794	12,007,160

CONDENSED STATEMENTS OF CHANGES

CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands		Total	Ordinary Share	Additional paid-in capital	Accumulated deficit
Balance at Dec. 31, 2014		$ 43,853	$ 32	$ 92,395	$ (48,574)
Balance (in shares) at Dec. 31, 2014			11,978,554
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation to employees and non-employees		2,345		2,345
Issuance of ordinary shares upon exercise of stock options and RSUs by employees and non employees		137	$ 1	136
Issuance of ordinary share upon exercise of stock options and RSUs by employees and non employees (shares)			194,345
Cashless exercise of warrants into ordinary shares			49,684
Net loss		(25,415)			(25,415)
Balance at Dec. 31, 2015		20,920	$ 33	94,876	(73,989)
Balance (in shares) at Dec. 31, 2015			12,222,583
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation to employees and non-employees		717		717
Issuance of ordinary shares upon exercise of stock options and RSUs by employees and non employees		$ 38		38
Issuance of ordinary share upon exercise of stock options and RSUs by employees and non employees (shares)		99,462	99,462
Cashless exercise of warrants into ordinary shares			45,116
Issuance of warrants to purchase ordinary shares	[1]	$ 1,161		1,161
Net loss		(6,922)			(6,922)
Balance at Mar. 31, 2016		$ 15,914	$ 33	$ 96,792	$ (80,911)
Balance (in shares) at Mar. 31, 2016			12,367,161
[1]	See note 6 to the condensed consolidated financial statements

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net loss	$ (6,922,000)	$ (5,706,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	163,000	44,000
Share-based compensation to employees and non- employees	717,000	586,000
Deferred taxes	(13,000)	0
Financial expenses related to long term loan	156,000	0
Changes in assets and liabilities:
Trade receivables, net	(295,000)	253,000
Prepaid expenses and other current assets	(607,000)	(355,000)
Inventories	(526,000)	(1,059,000)
Trade payables	378,000	768,000
Employees and payroll accruals	(82,000)	(116,000)
Deferred revenues and advances from customers	44,000	33,000
Other liabilities	50,000	(610,000)
Net cash used in operating activities	(6,937,000)	(6,162,000)
Cash flows from investing activities:
Maturities of short-term deposits	0	1,667,000
Purchase of property and equipment	(129,000)	(371,000)
Net cash provided by (used in) investing activities	(129,000)	1,296,000
Cash flows from financing activities:
Proceeds from long term loan	12,000,000	0
Repayment of long term loan	(553,000)	0
Debt issuance cost	(441,000)	0
Net cash provided by financing activities	11,006,000	0
Increase (decrease) in cash and cash equivalents	3,940,000	(4,866,000)
Cash and cash equivalents at beginning of period	17,869,000	41,829,000
Cash and cash equivalents at end of period	21,809,000	36,963,000
Supplemental disclosures of non-cash flow information
Issuance of ordinary shares upon exercise of stock options by employees and non-employees	38,000	0
Supplemental disclosures of cash flow information:
Cash paid for income taxes	4,000	2,000
Cash paid for interest	$ 323	$ 0

GENERAL

GENERAL	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	GENERAL a. ReWalk Robotics Ltd. (“RRL”, and together with its subsidiaries, the “Company”) was incorporated under the laws of the State of Israel on June 20, 2001 and commenced operations on the same date. b. RRL has two wholly-owned subsidiaries: (i) ReWalk Robotics Inc. , incorporated under the laws of Delaware on February 15, 2012, and (ii) Argo Medical Technologies GmbH (“AMG”), incorporated under the laws of Germany on January 14, 2013. c. The Company depends on one contract manufacturer. Reliance on this vendor makes the Company vulnerable to possible capacity constraints and reduced control over component availability, delivery schedules, manufacturing yields and costs. This vendor accounted for 23% and 24% of the Company's total trade payables as of March 31, 2016 and December 31, 2015 respectively. d. The Company has incurred losses in the amount of $6,922 thousand during the three months period ended March 31, 2016 . The Company has an accumulated deficit in the total amount of $80,911 thousand as of March 31, 2016 and negative cash flow from operating activity is in the amount of $6,937 thousand for the period then ended. The Company has sufficient funds to support its operations in the next 12 months. See also Note 6 below for information about the Company’s loan agreement with Kreos Capital V (Expert Fund) Limited and Note 10 below for information about the Company's equity distribution agreement with Piper Jaffray & Co. (“Piper Jaffray”).

UNAUDITED INTERIM CONDENSED CON

UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Notes)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles and standards of the Public Company Accounting Oversight Board for interim financial information. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles in the United States for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the Company's consolidated financial position as of March 31, 2016 , consolidated results of operations and consolidated cash flows for the period of three months ended March 31, 2016 and March 31, 2015 have been included. The results for the three month period ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES a. The significant accounting policies applied in the audited consolidated financial statements of the Company as disclosed in the Company's annual report on Form 10-K for the year ended December 31, 2015 filed with the SEC on February 29, 2016, as amended on form 10-K/A filed with the SEC on May 5, 2016 (the “2015 Form 10-K”) are applied consistently in these unaudited interim condensed consolidated financial statements. b. New Accounting Pronouncements: i. In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-09, Compensation-Stock Compensation (Topic 718) . The new guidance simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The amendments in this standard are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted. The Company is currently evaluating the impact of the pending adoption of this guidance on its condensed consolidated financial statements and related disclosures. ii. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) . Under the new guidance, a lessee will be required to recognize assets and liabilities for all leases with lease terms of more than 12 months. Consistent with current GAAP, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. This ASU requires additional disclosures. The standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The ASU requires adoption based upon a modified retrospective transition approach. Early adoption is permitted. The Company has not yet selected a transition method, has not yet determined whether it will elect early adoption and is currently evaluating the impact of the pending adoption of this ASU on its condensed consolidated financial statements and related disclosures. c. Concentrations of Credit Risks: Concentration of credit risk with respect to trade receivable is primarily limited to a customer to which we make substantial sales. One customer represented 60% and 21% of the Company's trade receivable, net balance as of March 31, 2016 and December 31, 2015 respectively. SIGNIFICANT ACCOUNTING POLICIES a. The significant accounting policies applied in the audited consolidated financial statements of the Company as disclosed in the Company's annual report on Form 10-K for the year ended December 31, 2015 filed with the SEC on February 29, 2016, as amended on form 10-K/A filed with the SEC on May 5, 2016 (the “2015 Form 10-K”) are applied consistently in these unaudited interim condensed consolidated financial statements. b. New Accounting Pronouncements: i. In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-09, Compensation-Stock Compensation (Topic 718) . The new guidance simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The amendments in this standard are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted. The Company is currently evaluating the impact of the pending adoption of this guidance on its condensed consolidated financial statements and related disclosures. ii. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) . Under the new guidance, a lessee will be required to recognize assets and liabilities for all leases with lease terms of more than 12 months. Consistent with current GAAP, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. This ASU requires additional disclosures. The standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The ASU requires adoption based upon a modified retrospective transition approach. Early adoption is permitted. The Company has not yet selected a transition method, has not yet determined whether it will elect early adoption and is currently evaluating the impact of the pending adoption of this ASU on its condensed consolidated financial statements and related disclosures. c. Concentrations of Credit Risks: Concentration of credit risk with respect to trade receivable is primarily limited to a customer to which we make substantial sales. One customer represented 60% and 21% of the Company's trade receivable, net balance as of March 31, 2016 and December 31, 2015 respectively.

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES The components of inventory are as follows (in thousands): March 31, December 31, 2016 2015 Raw materials $ 513 $ 450 Finished products 2,547 2,084 $ 3,060 $ 2,534

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES a. Purchase commitments: The Company has contractual obligations to purchase goods from its contract manufacturer. Purchase obligations do not include contracts that may be canceled without penalty. As of March 31, 2016, non-cancelable outstanding obligations amounted to approximately $ 1.5 million. b. Liens: As described in Note 6 below, in connection with the Loan Agreement, the Company granted Kreos a first priority security interest over all of its assets, including intellectual property and equity interests in its subsidiaries, subject to certain permitted security interests. The Company's long-term other assets include amount of $ 648 thousand which is pledged as security in respect of guaranties made in favor of a third party on April 29, 2015 and on January 6, 2016 . Such deposit cannot be pledged to others or withdrawn without the consent of such third party.

LOAN AND WARRANT TO PURCHASE OR

LOAN AND WARRANT TO PURCHASE ORDINARY SHARES LOAN AND WARRANT TO PURCHASE ORDINARY SHARES	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
LOANS AND WARRANT TO PURCHASE ORDINARY SHARES	LOAN AND WARRANT TO PURCHASE ORDINARY SHARES On December 30, 2015, the Company entered into a loan agreement (the “Loan Agreement”) with Kreos Capital V (Expert Fund) Limited (“Kreos” or the “Lender”) pursuant to which Kreos extended a line of credit to the Company in the amount of $ 20 million (the “Loan”). On January 4, 2016 (the “Draw Down Date”), the Company drew down $ 12 million , less $ 415 thousand in loan transaction fees and $ 660 thousand of advance payment. Additional loan transaction fees in the amount of $ 26 thousand were paid after the Draw Down Date. Of the $ 441 thousand in total loan transaction fees, $ 140 thousand are deferred, and presented within “Other long term assets”, as they are allocated to the remaining $ 8 million that is available to be drawn down by the Company under the Loan Agreement in separate tranches until December 31, 2016, if the Company raises $ 10 million or more prior to December 31, 2016 in connection with the issuance of shares of the Company's capital stock. The Loan is for a period of 36 months and bears annual interest of 10.75% , which is to be paid monthly. The principal of the Loan is to be paid in 24 monthly payments, beginning in January 2017, except for the last loan payment which was paid in advance on the Draw Down Date, but will be extended to 36 months if the Company raises $ 20 million or more in connection with the issuance of shares of its capital stock (including debt convertible into shares of the Company's capital stock) prior to the expiration of the 24 -month period. Repayment of the Loan and payment of all other amounts owed to the Lender is to be made in U.S. dollars. The Company recorded interest expense in the amount of $ 479 thousand for the three month period ended March 31, 2016. Pursuant to the Loan Agreement, the Company granted Kreos a first priority security interest over all of its assets, including intellectual property and equity interests in its subsidiaries, subject to certain permitted security interests. In connection with the Loan Agreement, on December 30,2015, the Company granted Kreos a warrant to purchase 119,295 ordinary shares at an exercise price of $ 9.64 per share (the “Warrant”). The Warrant is exercisable, in whole or in part, at any time prior to the earliest of (i) December 30, 2025 or (ii) immediately prior to the consummation of a merger, consolidation, or reorganization of the Company with or into, or the sale or license of all or substantially all the assets or shares of the Company to, any other entity or person, other than a wholly-owned subsidiary of the Company, excluding any transaction in which shareholders of the Company prior to the transaction will hold more than 50% of the voting and economic rights of the surviving entity after the transaction. On December 30, 2015, the Company calculated the value of its freestanding Warrants to purchase its ordinary shares in the amount of $ 1,161 thousand (net of $ 42 thousand issuance expenses), by using the relative fair value method and utilizing an option pricing method. The Company has recorded the value of the Warrant, together with the Loan's issuance costs, as debt discount which is being accreted as interest expense using the effective-interest method over the remaining term of the Loan. The following assumptions were used to estimate the value of the Warrants on December 30, 2015: December 30, 2015 Expected volatility 60 % Risk-free rate 2.52 % Dividend yield — % Expected term (in years) 10

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS’ EQUITY a. Share option plans: As of March 31, 2016 and December 31, 2015 the Company had reserved 881,856 a nd 420,469 shares of ordinary shares, respectively, available for issuance to employees, directors, officers and non-employees of the Company under the 2014 Incentive Compensation Plan (the “ 2014 Plan”). The options generally vest over four years. Any option that is forfeited or canceled before expiration becomes available for future grants under the 2014 Plan. The fair value for options granted during the three month period ended March 31, 2016 and March 31, 2015 is estimated at the date of the grant using a Black-Scholes-Merton option pricing model with the following assumptions: Three Months Ended March 31, 2016 2015 Expected volatility 60% 60% Risk-free rate 1.43%-1.60% 1.60%-1.77% Dividend yield —% —% Expected term (in years) 5.31-6.11 6.11 Share price $8.48 - $11.88 $19.61- $20.97 A summary of employee share options and restricted stock units ("RSUs") activity during the three month period ended March 31, 2016 is as follows: Three Months Ended March 31, Number Average exercise price Average remaining contractual life (years) (1) Aggregate intrinsic value (in thousands) Options and RSUs outstanding at the beginning of the period 1,853,369 $ 6.12 8.37 $ 17,048 Options granted 47,171 10.63 Options exercised (2) (96,767 ) 1.27 RSUs vested (2) (14,670 ) — RSUs forfeited (44 ) — Options forfeited (4,848 ) 10.68 Options and RSUs outstanding at the end of the period 1,784,211 $ 6.54 8.25 $ 8,056 Options and RSUs vested and expected to vest 1,735,646 $ 6.51 8.21 $ 7,924 Options exercisable at the end of the period 644,935 $ 3.80 6.96 $ 4,521 (1) Calculation of weighted average remaining contractual term does not include the RSUs that were granted, which have an indefinite contractual term. (2) During the three month period ended on March 31, 2016, the aggregate number of ordinary shares that were issued pursuant to RSUs that became vested and options that were exercised on a net basis was 99,462 ordinary shares The weighted average grant date fair values of options granted during the three-month period ended March 31, 2016 , and March 31, 2015 were $5.88 , and $11.19 , respectively. The Company did not grant RSUs during the three month period ended March 31, 2016 , The weighted average grant date fair values of RSUs granted during the three-month period ended March 31, 2015 was $ 20.97 . The aggregate intrinsic value in the table above represents the total intrinsic value that would have been received by the option holders had all option holders, that hold options with positive intrinsic value, exercised their options on the last date of the exercise period. Total intrinsic value of options exercised for each of the three-month periods ended March 31, 2016 and March 31, 2015 were $786 thousand and $ 1,340 thousand respectively. As of March 31, 2016 , there were $7,408 thousand of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the Company's 2012 Equity Incentive Plan, and its 2014 Plan. This cost is expected to be recognized over a period of approximately 2.7 years. The options and RSUs outstanding as of March 31, 2016 have been separated into ranges of exercise price as follows: Range of exercise price Options and RSUs Outstanding as of March 31, 2016 Weighted average remaining contractual life (years) (1) Options exercisable as of March 31, 2016 Weighted average remaining contractual life (years) (1) — (consist of RSUs only) 73,547 — — — $0.82 34,377 4.79 34,377 4.79 $1.32 345,188 6.20 320,474 6.17 $1.48 409,576 7.78 204,369 7.78 $7.30- $8.99 624,503 9.58 4,875 9.59 $10.98- $11.88 36,146 9.86 — 0 $19.62-$20.97 260,874 8.73 80,840 8.73 1,784,211 8.25 644,935 6.96 (1) Calculation of weighted average remaining contractual term does not include the RSUs that were granted, which have an indefinite contractual term. b. Options issued to non-employee consultant: The Company’s outstanding options granted to non-employee consultant as of March 31, 2016 were as follows: Issuance date Options for shares of ordinary share Exercise price per share Options exercisable Exercisable through (number) (number) March 12, 2007 3,454 $ — 3,454 March 12, 2017 c. Warrants to purchase ordinary shares: During the three month period ended on March 31, 2016 a total of 138,702 warrants were exercised on a cashless basis into 45,116 ordinary shares. The following table summarizes information about warrants outstanding and exercisable as of March 31, 2016 : Issuance date Warrants outstanding Exercise Warrants Contractual term (number) (number) July 14, 2014 403,804 $ 10.08 403,804 July 13, 2018 December 30, 2015 119,295 $ 9.64 119,295 The earlier of (i) December 30, 2025, or (ii) a merger, consolidation, or reorganization of the Company. 523,099 523,099 d. Share-based compensation expense for employees and non-employees: The Company recognized non-cash share-based compensation expense in the consolidated statements of operations as follows (in thousands): Three Months Ended 2016 2015 Cost of revenues $ 22 $ 15 Research and development, net 113 101 Sales and marketing, net 174 133 General and administrative 408 337 Total $ 717 $ 586

FINANCIAL EXPENSES, NET

FINANCIAL EXPENSES, NET	3 Months Ended
	Mar. 31, 2016
Other Income and Expenses [Abstract]
FINANCIAL EXPENSES, NET	FINANCIAL EXPENSES, NET The components of financial expenses, net were as follows (in thousands): Three Months Ended 2016 2015 Foreign currency transactions and other $ 19 $ 161 Financial expenses related to loan agreement with Kreos 479 — Bank commissions 9 8 Income related to hedging transactions (18 ) — $ 489 $ 169

GEOGRAPHIC INFORMATION AND MAJO

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA	GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA Summary information about geographic areas: ASC 280, “Segment Reporting” establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing the enterprise’s performance. The Company manages its business on the basis of one reportable segment, and derives revenues from selling systems and services (see Note 1 above and “Part I, Item 2 - Management’s Discussion and Analysis of Financial Condition and Results of Operations” of this quarterly report for a brief description of the Company’s business). The following is a summary of revenues within geographic areas (in thousands): Three Months Ended March 31, 2016 2015 Revenues based on customer’s location: Israel $ — $ — United States 1,739 574 Europe 260 57 Asia-Pacific 62 4 Total revenues $ 2,061 $ 635 March 31, December 31, 2016 2015 Long-lived assets by geographic region (*): Israel $ 594 $ 605 United States 493 483 Germany 207 240 $ 1,294 $ 1,328 (*) Long-lived assets are comprised of property and equipment, net. Major customer data as a percentage of total revenues (in thousands): March 31, December 31, 2016 2015 Customer A 71 % 15 %

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On May 10, 2016, we entered into an equity distribution agreement (the “Equity Distribution Agreement”) with Piper Jaffray , pursuant to which we may offer and sell, from time to time, ordinary shares having an aggregate offering price of up to $25 million , through Piper Jaffray acting as our agent. Subject to the terms and conditions of the Equity Distribution Agreement, Piper Jaffray will use its commercially reasonable efforts to sell on the Company's behalf all of the ordinary shares requested to be sold by us, consistent with its normal trading and sales practices. Piper Jaffray may also act as principal in the sale of ordinary shares under the Equity Distribution Agreement. Sales may be made under our registration statement on Form S-3, which was declared effective on May 9, 2016 (the “Form S-3”), in what may be deemed “at-the-market” equity offerings as defined in Rule 415 promulgated under the Securities Act of 1933, as amended (the “ATM Offering Program”). Sales may be made directly on or through the NASDAQ Global Market, the existing trading market for our ordinary shares, to or through a market maker other than on an exchange or otherwise, in negotiated transactions at market prices prevailing at the time of sale or at prices related to such prevailing market prices, and/or any other method permitted by law, including in privately negotiated transactions. Piper Jaffray is entitled to compensation at a fixed commission rate of 3.0% of the gross sales price per share sold through it as agent under the Equity Distribution Agreement. Where Piper Jaffray acts as principal in the sale of ordinary shares under the Equity Distribution Agreement, such rate of compensation will not apply, but in no event will the total compensation of Piper Jaffray, when combined with the reimbursement of Piper Jaffray for the out-of-pocket fees and disbursements of its legal counsel, exceed 8.0% of the gross proceeds received from the sale of the ordinary shares. We estimate that the total expenses for the ATM Offering Program, excluding compensation payable to Piper Jaffray under the terms of the Equity Distribution Agreement, will be approximately $250 thousand . We have also agreed to reimburse Piper Jaffrey for the out-of-pocket reasonable fees and disbursements of its legal counsel, in an amount not to exceed $ 50 thousand . We are not required to sell any of our ordinary shares at any time. We may instruct Piper Jaffray not to sell ordinary shares if the sales cannot be effected at or above the price designated by us in any instruction. We or Piper Jaffray may suspend an offering of ordinary shares under the ATM Offering Program upon proper notice and subject to other conditions, as further described in the equity Distribution Agreement. Additionally, the ATM Offering Program will terminate on the earlier of (i) the sale of all ordinary shares subject to the Equity Distribution Agreement or (ii) the termination of the Equity Distribution Agreement. The Equity Distribution Agreement may be terminated by Piper Jaffray or us at any time on the close of business on the date of receipt of written notice, and by Piper Jaffray at any time in certain circumstances, including any suspension or limitation on the trading of our ordinary shares on the NASDAQ Global Market, as further described in the Equity Distribution Agreement. As of May 10, 2016, we had not sold any ordinary shares or paid any compensation to Piper Jaffray under the ATM Offering Program.

SIGNIFICANT ACCOUNTING POLICI17

SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Accounting	The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles and standards of the Public Company Accounting Oversight Board for interim financial information. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles in the United States for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the Company's consolidated financial position as of March 31, 2016 , consolidated results of operations and consolidated cash flows for the period of three months ended March 31, 2016 and March 31, 2015 have been included. The results for the three month period ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016.
Recent Accounting Pronouncements	New Accounting Pronouncements: i. In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-09, Compensation-Stock Compensation (Topic 718) . The new guidance simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The amendments in this standard are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted. The Company is currently evaluating the impact of the pending adoption of this guidance on its condensed consolidated financial statements and related disclosures. ii. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) . Under the new guidance, a lessee will be required to recognize assets and liabilities for all leases with lease terms of more than 12 months. Consistent with current GAAP, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. This ASU requires additional disclosures. The standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The ASU requires adoption based upon a modified retrospective transition approach. Early adoption is permitted. The Company has not yet selected a transition method, has not yet determined whether it will elect early adoption and is currently evaluating the impact of the pending adoption of this ASU on its condensed consolidated financial statements and related disclosures.
Concentrations of Credit Risks	Concentrations of Credit Risks: Concentration of credit risk with respect to trade receivable is primarily limited to a customer to which we make substantial sales. One customer represented 60% and 21% of the Company's trade receivable, net balance as of March 31, 2016 and December 31, 2015 respectively.

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Schedule of inventories	March 31, December 31, 2016 2015 Raw materials $ 513 $ 450 Finished products 2,547 2,084 $ 3,060 $ 2,534

LOAN AND WARRANT TO PURCHASE 19

LOAN AND WARRANT TO PURCHASE ORDINARY SHARES (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule of assumptions used to estimate the value of the warrants to purchase convertible preferred shares	The following assumptions were used to estimate the value of the Warrants on December 30, 2015: December 30, 2015 Expected volatility 60 % Risk-free rate 2.52 % Dividend yield — % Expected term (in years) 10

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of stock option valuation assumptions	The fair value for options granted during the three month period ended March 31, 2016 and March 31, 2015 is estimated at the date of the grant using a Black-Scholes-Merton option pricing model with the following assumptions: Three Months Ended March 31, 2016 2015 Expected volatility 60% 60% Risk-free rate 1.43%-1.60% 1.60%-1.77% Dividend yield —% —% Expected term (in years) 5.31-6.11 6.11 Share price $8.48 - $11.88 $19.61- $20.97
Summary of stock option and RSU activity	A summary of employee share options and restricted stock units ("RSUs") activity during the three month period ended March 31, 2016 is as follows: Three Months Ended March 31, Number Average exercise price Average remaining contractual life (years) (1) Aggregate intrinsic value (in thousands) Options and RSUs outstanding at the beginning of the period 1,853,369 $ 6.12 8.37 $ 17,048 Options granted 47,171 10.63 Options exercised (2) (96,767 ) 1.27 RSUs vested (2) (14,670 ) — RSUs forfeited (44 ) — Options forfeited (4,848 ) 10.68 Options and RSUs outstanding at the end of the period 1,784,211 $ 6.54 8.25 $ 8,056 Options and RSUs vested and expected to vest 1,735,646 $ 6.51 8.21 $ 7,924 Options exercisable at the end of the period 644,935 $ 3.80 6.96 $ 4,521 (1) Calculation of weighted average remaining contractual term does not include the RSUs that were granted, which have an indefinite contractual term. (2) During the three month period ended on March 31, 2016, the aggregate number of ordinary shares that were issued pursuant to RSUs that became vested and options that were exercised on a net basis was 99,462 ordinary shares
Schedule of options and RSUs outstanding which have been separated into ranges of exercise price	The options and RSUs outstanding as of March 31, 2016 have been separated into ranges of exercise price as follows: Range of exercise price Options and RSUs Outstanding as of March 31, 2016 Weighted average remaining contractual life (years) (1) Options exercisable as of March 31, 2016 Weighted average remaining contractual life (years) (1) — (consist of RSUs only) 73,547 — — — $0.82 34,377 4.79 34,377 4.79 $1.32 345,188 6.20 320,474 6.17 $1.48 409,576 7.78 204,369 7.78 $7.30- $8.99 624,503 9.58 4,875 9.59 $10.98- $11.88 36,146 9.86 — 0 $19.62-$20.97 260,874 8.73 80,840 8.73 1,784,211 8.25 644,935 6.96 (1) Calculation of weighted average remaining contractual term does not include the RSUs that were granted, which have an indefinite contractual term.
Schedule of outstanding options granted to non-employees	The Company’s outstanding options granted to non-employee consultant as of March 31, 2016 were as follows: Issuance date Options for shares of ordinary share Exercise price per share Options exercisable Exercisable through (number) (number) March 12, 2007 3,454 $ — 3,454 March 12, 2017
Schedule of warrants outstanding and exercisable	The following table summarizes information about warrants outstanding and exercisable as of March 31, 2016 : Issuance date Warrants outstanding Exercise Warrants Contractual term (number) (number) July 14, 2014 403,804 $ 10.08 403,804 July 13, 2018 December 30, 2015 119,295 $ 9.64 119,295 The earlier of (i) December 30, 2025, or (ii) a merger, consolidation, or reorganization of the Company. 523,099 523,099
Schedule of non-cash share-based compensation expense	The Company recognized non-cash share-based compensation expense in the consolidated statements of operations as follows (in thousands): Three Months Ended 2016 2015 Cost of revenues $ 22 $ 15 Research and development, net 113 101 Sales and marketing, net 174 133 General and administrative 408 337 Total $ 717 $ 586

FINANCIAL EXPENSES, NET (Tables

FINANCIAL EXPENSES, NET (Tables)	3 Months Ended
	Mar. 31, 2016
Other Income and Expenses [Abstract]
Schedule of financial expenses (income), net	The components of financial expenses, net were as follows (in thousands): Three Months Ended 2016 2015 Foreign currency transactions and other $ 19 $ 161 Financial expenses related to loan agreement with Kreos 479 — Bank commissions 9 8 Income related to hedging transactions (18 ) — $ 489 $ 169

GEOGRAPHIC INFORMATION AND MA22

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Schedule of revenues within geographic areas	The following is a summary of revenues within geographic areas (in thousands): Three Months Ended March 31, 2016 2015 Revenues based on customer’s location: Israel $ — $ — United States 1,739 574 Europe 260 57 Asia-Pacific 62 4 Total revenues $ 2,061 $ 635
Schedule of long-lived assets by geographic region	March 31, December 31, 2016 2015 Long-lived assets by geographic region (*): Israel $ 594 $ 605 United States 493 483 Germany 207 240 $ 1,294 $ 1,328 (*) Long-lived assets are comprised of property and equipment, net.
Schedule of major customer data as a percentage of total revenues	Major customer data as a percentage of total revenues (in thousands): March 31, December 31, 2016 2015 Customer A 71 % 15 %

GENERAL (Details)

GENERAL (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016USD ($)subsidiarymanufacturer	Mar. 31, 2015USD ($)manufacturer	Dec. 31, 2015USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of wholly-owned subsidiaries | subsidiary	2
Concentration Risk [Line Items]
Net loss	$ 6,922	$ 5,706	$ 25,415
Accumulated deficit	80,911		$ 73,989
Cash flow from operating activity	$ 6,937	$ 6,162
Vendor concentration | Trade payables
Concentration Risk [Line Items]
Number of contract manufacturers | manufacturer	1	1
Concentration risk (as a percent)	23.00%		24.00%

SIGNIFICANT ACCOUNTING POLICI24

SIGNIFICANT ACCOUNTING POLICIES (Concentrations of Credit Risks) (Details) - Trade Receivable - Customer concentration - customer	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Concentration Risk [Line Items]
Number of customers			1	1
Concentration risk (as a percent)	60.00%	21.00%

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 513	$ 450
Finished products	2,547	2,084
Inventories	$ 3,060	$ 2,534

COMMITMENTS AND CONTINGENT LI26

COMMITMENTS AND CONTINGENT LIABILITIES (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Commitments and Contingencies Disclosure [Abstract]
Outstanding purchase orders	$ 1,500
Collateral pledged	$ 648

LOAN AND WARRANT TO PURCHASE 27

LOAN AND WARRANT TO PURCHASE ORDINARY SHARES Term Loan (Details) - USD ($)	Jan. 04, 2016	Mar. 31, 2016	Mar. 31, 2016	Mar. 31, 2015	Dec. 30, 2015
Debt Instrument [Line Items]
Payment of loan transaction fee			$ 441,000	$ 0
Minimum amount required to be raised in order to drawn down remaining credit facility		$ 10,000,000	10,000,000
Financial expenses related to loan agreement with Kreos			479,000	$ 0
Term Loan | 10.75% Term Loan Due January 2019
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 20,000,000
Loan proceeds	$ 12,000,000
Advance payment	660,000
Payment of loan transaction fee	$ 415,000	26,000	441,000
Deferred loan transaction fees		140,000	140,000
Remaining borrowing capacity under loan agreement		$ 8,000,000	8,000,000
Loan term	36 months
Annual interest rate (as a percent)	10.75%
Number of monthly payments	24 months
Minimum amount to be raised by issuance of capital stock for extended loan term	$ 20,000,000
Financial expenses related to loan agreement with Kreos			$ 479,000

LOAN AND WARRANT TO PURCHASE 28

LOAN AND WARRANT TO PURCHASE ORDINARY SHARES Warrants (Details) $ / shares in Units, $ in Thousands		Dec. 30, 2015USD ($)$ / sharesshares	Mar. 31, 2016USD ($)	May. 31, 2015shares
Class of Warrant or Right [Line Items]
Fair value of warrants	[1]		$ 1,161
Ordinary Share
Class of Warrant or Right [Line Items]
Number of warrants issued (in shares) | shares		119,295		138,702
Exercise price (in USD per share) | $ / shares		$ 9.64
Minimum percentage in acquired company required to prevent warrants from becoming exercisable		0.5
Fair value of warrants		$ 1,161
Transaction fee expenses		$ 42
[1]	See note 6 to the condensed consolidated financial statements

LOAN AND WARRANT TO PURCHASE 29

LOAN AND WARRANT TO PURCHASE ORDINARY SHARES Warrants Fair Value Assumptions (Details) - Ordinary Share	Dec. 30, 2015
Class of Warrant or Right [Line Items]
Expected volatility (as a percent)	60.00%
Risk-free rate (as a percent)	2.52%
Dividend yield (as a percent)	0.00%
Expected term (in years)	10 years

SHAREHOLDERS' EQUITY (Narrative

SHAREHOLDERS' EQUITY (Narrative - Share Option Plans) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Shareholders' equity (deficiency) [Line Items]
Period of recognition of unrecognized compensation cost	2 years 8 months 12 days
Options
Shareholders' equity (deficiency) [Line Items]
Shares reserved for future issuance	881,856		420,469
Award vesting period	4 years
Weighted average grant date fair values, options (in USD per share)	$ 5.88	$ 11.19
Total intrinsic value of options exercised	$ 786	$ 1,340
RSU
Shareholders' equity (deficiency) [Line Items]
Number of RSUs granted (in shares)	0
Weighted average grant date fair values, RSUs (in USD per share)		$ 20.97
Unrecognized compensation cost	$ 7,408

SHAREHOLDERS' EQUITY (Option Va

SHAREHOLDERS' EQUITY (Option Valuation Assumptions) (Details) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (as a percent)	60.00%	60.00%
Risk-free rate, minimum (as a percent)	1.43%	1.60%
Risk-free rate, maximum (as a percent)	1.60%	1.77%
Dividend yield (as a percent)	0.00%	0.00%
Expected term (in years)		6 years 1 month 10 days
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	5 years 3 months 22 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grant Date Fair Value	8.48		19.61
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 years 1 month 10 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grant Date Fair Value	11.88		20.97

SHAREHOLDERS' EQUITY (Summary o

SHAREHOLDERS' EQUITY (Summary of Employee Share Option and RSU Activity ) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Aggregate intrinsic value (in thousands)
Issuance of ordinary share upon exercise of stock options and vesting of RSUs (shares)	99,462
Stock Options and RSUs
Number
Options and RSU's outstanding at the beginning of the period (in shares)	1,853,369
Options and RSU's outstanding at the end of the period (in shares)	1,784,211
Options and RSUs vested and expected to vest (in shares)	1,735,646
Average exercise price
Options and RSUs outstanding at the beginning of the period (in USD per share)	$ 6.12
Options and RSUs outstanding at the end of the period (in USD per share)	6.54
Options and RSUs vested and expected to vest (in USD per share)	$ 6.51
Average remaining contractual life (years)
Options and RSUs outstanding	8 years 3 months	8 years 4 months 13 days
Options and RSUs vested and expected to vest	8 years 2 months 16 days
Aggregate intrinsic value (in thousands)
Options and RSUs outstanding at beginning of the period	$ 17,048
Options and RSUs outstanding at the end of the period	8,056
Options and RSUs vested and expected to vest	$ 7,924
Options
Number
Options granted (in shares)	47,171
Options exercised (in shares)	(96,767)
Options forfeited (in shares)	(4,848)
Options exercisable at the end of the period (in shares)	644,935
Average exercise price
Options granted (in USD per share)	$ 10.63
Exercised (in USD per share)	1.27
Forfeited (in USD per share)	10.68
Options exercisable at the end of the period (in USD per share)	$ 3.80
Average remaining contractual life (years)
Options exercisable at the end of the period	6 years 11 months 16 days
Aggregate intrinsic value (in thousands)
Options exercisable at the end of the period	$ 4,521
RSU
Number
RSUs vested (in shares)	(14,670)
RSUs forfeited (in shares)	(44)

SHAREHOLDERS' EQUITY (Schedule

SHAREHOLDERS' EQUITY (Schedule of Options and RSUs Outstanding Which have been Separated into Ranges of Exercise Price) (Details)	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Stock Options and RSUs
Ranges of Exercise Price [Line Items]
Options Outstanding	1,784,211
Weighted average remaining contractual life (years)	8 years 3 months
Options exercisable	644,935
Weighted average remaining contractual life (years)	6 years 11 months 16 days
$0.00 | RSU
Ranges of Exercise Price [Line Items]
Options Outstanding	73,547
Weighted average remaining contractual life (years)	0 days
Options exercisable	0
Weighted average remaining contractual life (years)	0 days
$0.82 | Stock Options and RSUs
Ranges of Exercise Price [Line Items]
Range of exercise price (in USD per share) | $ / shares	$ 0.82
Options Outstanding	34,377
Weighted average remaining contractual life (years)	4 years 9 months 15 days
Options exercisable	34,377
Weighted average remaining contractual life (years)	4 years 9 months 15 days
$1.32 | Stock Options and RSUs
Ranges of Exercise Price [Line Items]
Range of exercise price (in USD per share) | $ / shares	$ 1.32
Options Outstanding	345,188
Weighted average remaining contractual life (years)	6 years 2 months 12 days
Options exercisable	320,474
Weighted average remaining contractual life (years)	6 years 2 months 1 day
$1.48 | Stock Options and RSUs
Ranges of Exercise Price [Line Items]
Range of exercise price (in USD per share) | $ / shares	$ 1.48
Options Outstanding	409,576
Weighted average remaining contractual life (years)	7 years 9 months 11 days
Options exercisable	204,369
Weighted average remaining contractual life (years)	7 years 9 months 11 days
$7.30- $8.99 | Stock Options and RSUs
Ranges of Exercise Price [Line Items]
Range of exercise price- minimum (in USD per share) | $ / shares	$ 7.30
Range of exercise price, maximum (in USD per share) | $ / shares	$ 8.99
Options Outstanding	624,503
Weighted average remaining contractual life (years)	9 years 6 months 29 days
Options exercisable	4,875
Weighted average remaining contractual life (years)	9 years 7 months 2 days
$10.98- $11.88 | Stock Options and RSUs
Ranges of Exercise Price [Line Items]
Range of exercise price- minimum (in USD per share) | $ / shares	$ 10.98
Range of exercise price, maximum (in USD per share) | $ / shares	$ 11.88
Options Outstanding	36,146
Weighted average remaining contractual life (years)	9 years 10 months 10 days
Options exercisable	0
Weighted average remaining contractual life (years)	0 days
$19.62-$20.97 | Stock Options and RSUs
Ranges of Exercise Price [Line Items]
Range of exercise price- minimum (in USD per share) | $ / shares	$ 19.62
Range of exercise price, maximum (in USD per share) | $ / shares	$ 20.97
Options Outstanding	260,874
Weighted average remaining contractual life (years)	8 years 8 months 23 days
Options exercisable	80,840
Weighted average remaining contractual life (years)	8 years 8 months 23 days

SHAREHOLDERS' EQUITY (Schedul34

SHAREHOLDERS' EQUITY (Schedule of Outstanding Options Granted to Non-employees) (Details) - Nonemployee Stock Option - March 12, 2007	Mar. 31, 2016$ / sharesshares
Shareholders' equity (deficiency) [Line Items]
Options for shares of ordinary share (in shares)	3,454
Exercise price per share (in USD per shares) | $ / shares	$ 0
Options exercisable (in shares)	3,454

SHAREHOLDER'S EQUITY (Schedule

SHAREHOLDER'S EQUITY (Schedule of Warrants) (Details) - $ / shares	1 Months Ended
	May. 31, 2015	Mar. 31, 2016	Dec. 30, 2015
Warrants to Purchase Ordinary Shares Issued on July 14, 2014
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)		403,804
Exercise price (in USD per share)		$ 10.08
Warrants exercisable (in shares)		403,804
Warrants to Purchase Ordinary Shares Issued on December 30, 2015
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)		119,295
Exercise price (in USD per share)		$ 9.64
Warrants exercisable (in shares)		119,295
Ordinary Share
Class of Warrant or Right [Line Items]
Issuance of warrants to purchase ordinary shares (in shares)	138,702		119,295
Ordinary shares issued upon exercise of warrants (in shares)	45,116
Warrants outstanding (in shares)		523,099
Exercise price (in USD per share)			$ 9.64
Warrants exercisable (in shares)		523,099

SHAREHOLDERS' EQUITY (Schedul36

SHAREHOLDERS' EQUITY (Schedule of Non-cash Share-based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Non-cash share-based compensation expense [Line Items]
Non-cash share-based compensation expense	$ 717	$ 586
Cost of revenues
Non-cash share-based compensation expense [Line Items]
Non-cash share-based compensation expense	22	15
Research and development, net
Non-cash share-based compensation expense [Line Items]
Non-cash share-based compensation expense	113	101
Sales and marketing, net
Non-cash share-based compensation expense [Line Items]
Non-cash share-based compensation expense	174	133
General and administrative
Non-cash share-based compensation expense [Line Items]
Non-cash share-based compensation expense	$ 408	$ 337

FINANCIAL EXPENSES, NET (Detail

FINANCIAL EXPENSES, NET (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Other Income and Expenses [Abstract]
Foreign currency transactions and other	$ 19	$ 161
Financial expenses related to loan agreement with Kreos	479	0
Bank commissions	9	8
Income related to hedging transactions	(18)	0
Financial expenses (income), net	$ 489	$ 169

GEOGRAPHIC INFORMATION AND MA38

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA Additional Information (Details)	3 Months Ended
	Mar. 31, 2016segment
Segment Reporting [Abstract]
Number of reportable segments	1

GEOGRAPHIC INFORMATION AND MA39

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA (Schedule of revenues and long-lived assets by geographic region) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Summary of revenues and long-lived assets by geographic region [Line items]
Revenues	$ 2,061	$ 635
Long-lived assets	1,294		$ 1,328
Israel
Summary of revenues and long-lived assets by geographic region [Line items]
Revenues	0	0
Long-lived assets	594		605
United States
Summary of revenues and long-lived assets by geographic region [Line items]
Revenues	1,739	574
Long-lived assets	493		483
Europe
Summary of revenues and long-lived assets by geographic region [Line items]
Revenues	260	57
Asia-Pacific
Summary of revenues and long-lived assets by geographic region [Line items]
Revenues	62	$ 4
Germany
Summary of revenues and long-lived assets by geographic region [Line items]
Long-lived assets	$ 207		$ 240

GEOGRAPHIC INFORMATION AND MA40

GEOGRAPHIC INFORMATION AND MAJOR CUSTOMER AND PRODUCT DATA (Schedule of major customer data as a percentage of total revenues) (Details)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue | Customer concentration | Customer A
Major customer data as a percentage of total revenues [Line items]
Concentration risk (as a percent)	71.00%	15.00%

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details)	May. 10, 2016USD ($)
Forecast
Subsequent Event [Line Items]
Stock issuance costs excluding fees and reimbursements to agent	$ 250,000
Reimbursements to agent	50,000
Subsequent Event
Subsequent Event [Line Items]
Aggregate offering price authorized under equity distribution agreement	$ 25,000,000
Stock issuance costs as a percent of gross proceeds	3.00%
Subsequent Event | Maximum
Subsequent Event [Line Items]
Stock issuance costs as a percent of gross proceeds	8.00%