Commitments and Contingent Liabilities

12 Months Ended

Dec. 31, 2016

Commitments And Contingencies Disclosure [Abstract]

Note 12: Commitments and contingent liabilities

The facilities of the Company are leased under various operating lease agreements for periods ending no later than 2024. The Company also leases motor vehicles under various operating leases, which expire on various dates, the latest of which is in 2019.

Future minimum lease payments under non-cancelable operating leases as of December 31, 2016, are as follows:

2017	$	3,276
2018		2,404
2019		2,186
2020		2,019
2021		1,594
Thereafter		2,714
	$	14,193

Lease and rental expense for the years ended December 31, 2016, 2015 and 2014 was $2,748, $2,194, and $1,794, respectively.

As of December 31, 2016 and 2015 the Company pledged bank deposits of $807 and $133, respectively, to cover bank guarantees in respect of its leases of operating facilities and obtained guarantees by the bank for the fulfillment of the Company’s lease commitments of $955 and $283, respectively.

In January 2017, two putative class action lawsuits were filed against the Company, its directors and certain of its officers, as well as the underwriters in the Company’s October 2015 initial public offering. The complaints, which purport to be brought on behalf of a class of persons and/or entities who purchased or otherwise acquired ordinary shares of the Company pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s initial public offering, allege material misstatements and/or omissions in the Company’s initial public offering materials in alleged violation of the federal securities laws and seek compensatory damages, among other remedies. The Company believes that the complaints are without merit and plans to defend the lawsuits vigorously. The Company has not accrued any amounts in respect of these lawsuits, as the amount of any liability is not probable or the amount cannot be reasonably estimated.