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Share Capital (Tables)
12 Months Ended
Dec. 31, 2018
Share Based Compensation Allocation And Classification In Financial Statements [Abstract]  
Schedule of Share Capital

Share capital is composed as follows:

 

 

Issued and outstanding

 

 

 

Number of shares

 

 

 

December 31,

 

 

 

2018

 

 

2017

 

Ordinary shares no par value

 

 

93,254,185

 

 

 

89,478,032

 

Schedule of Warrants to Purchase Ordinary Shares were Issued to Purchase of Convertible Preferred Shares

Significant terms of the warrants to purchase ordinary shares that were issued to purchasers of the Series D and E Convertible Preferred shares are as follows as of December 31, 2018 and 2017:

 

Warrants for ordinary

shares

 

 

 

 

 

 

 

December 31,

 

 

Exercise price

 

Expiration date

 

2018

 

 

2017

 

 

per share

 

January 22, 2018

 

 

-

 

 

 

203,241

 

 

$

3.59

 

July 21, 2018

 

 

-

 

 

 

304,863

 

 

$

3.59

 

 

 

 

-

 

 

 

508,104

 

 

 

 

 

 

 

In the years ended December 31, 2018 and 2017, warrants to purchase 504,225 and 1,418,711 ordinary shares, respectively, were cashlessly exercised, resulting in the issuance of 437,081 and 803,138 ordinary shares, respectively. Also, in the year ended December 31, 2018 and 2017 warrants to purchase 3,879 and 6,498 ordinary shares, respectively, with an exercise price of $3.59 per share were exercised for cash.

Schedule of Fair Value Assumptions Used for All Equity Based Awards Estimated Using Black-Scholes Option Pricing Model

The fair value of share-based awards was estimated using the Black-Scholes model for all equity grants. For market condition awards, the Company also applied the Monte-Carlo simulation model, with the following underlying assumptions:

 

 

Year ended December 31,

 

 

 

2018

 

2017

 

2016

 

Stock Option Plans

 

 

 

 

 

 

 

 

Expected term (years)

 

5.50-6.25

 

5.50-6.25

 

 

6.25

 

Expected volatility

 

52%-55%

 

57%-59%

 

58%-62%

 

Risk-free interest rate

 

2.70%-2.99%

 

1.97%-2.23%

 

1.23%-1.88%

 

Dividend yield

 

0.00%

 

0.00%

 

0.00%

 

ESPP

 

 

 

 

 

 

 

 

Expected term (years)

 

0.50

 

0.50

 

0.42

 

Expected volatility

 

45%-53%

 

76%-82%

 

70%

 

Risk-free interest rate

 

1.61%-2.14%

 

0.62%-1.13%

 

0.4%

 

Dividend yield

 

0.00%

 

0.00%

 

0.00%

 

Schedule of Stock Options to Purchase Ordinary Shares

A summary of the status of the Company’s options to purchase ordinary shares as of December 31, 2018 and changes during the year ended on that date is presented below:

 

 

Year ended December 31, 2018

 

 

 

Number of

options

 

 

Weighted

average

exercise

price

 

 

Aggregate

intrinsic

value

 

Outstanding at beginning of year

 

 

14,806,027

 

 

$

10.64

 

 

 

 

 

Granted

 

 

2,520,502

 

 

$

23.73

 

 

 

 

 

Exercised

 

 

(2,693,236

)

 

$

6.89

 

 

 

 

 

Forfeited and cancelled

 

 

(195,078

)

 

$

15.09

 

 

 

 

 

Outstanding at end of year

 

 

14,438,215

 

 

$

13.56

 

 

$

287,706

 

Exercisable options

 

 

6,090,628

 

 

$

11.04

 

 

$

136,695

 

Schedule of RSUs

A summary of the status of the Company’s RSUs as of December 31, 2018 and changes during the year ended on that date is presented below:

 

 

 

Year ended December 31, 2018

 

 

 

Number of

RSUs

 

 

Weighted

average

grant date

fair value

price

 

 

Aggregate

intrinsic

value

 

Unvested at beginning of year

 

$

1,651,219

 

 

$

9.66

 

 

 

 

 

Granted

 

 

535,220

 

 

 

23.32

 

 

 

 

 

Vested

 

 

(556,563

)

 

 

9.90

 

 

 

 

 

Forfeited and cancelled

 

 

(16,679

)

 

 

15.79

 

 

 

 

 

Unvested at end of year

 

 

1,613,197

 

 

$

14.04

 

 

$

54,010

 

Schedule of Equity-Based Compensation Expenses Related to Company's Equity-Based Awards

The total equity-based compensation expense related to all of the Company’s equity-based awards recognized for the years ended December 31, 2018, 2017 and 2016, was comprised as follows:

 

 

Year ended December 31,

 

 

 

2018

 

 

2017

 

 

2016

 

Cost of revenues

 

$

1,261

 

 

$

467

 

 

$

623

 

Research, development and clinical trials

 

 

4,709

 

 

 

3,587

 

 

 

3,155

 

Sales and marketing

 

 

7,393

 

 

 

3,784

 

 

 

5,111

 

General and administrative

 

 

26,483

 

 

 

19,278

 

 

 

12,552

 

Total share-based compensation expense

 

$

39,846

 

 

$

27,116

 

 

$

21,441

 

Schedule of Stock Option Outstanding

The options outstanding as of December 31, 2018 are as follows:

 

Exercise price

 

Number

of options

outstanding

 

 

Weighted

average

remaining

contractual

term

 

 

Number

of options

exercisable

 

 

Weighted

average

remaining

contractual

term

 

$

 

 

 

 

 

(years)

 

 

 

 

 

 

(years)

 

0.23 - 1.00

 

 

46,045

 

 

 

1.28

 

 

 

46,045

 

 

 

1.28

 

1.01 - 7.00

 

 

1,741,728

 

 

 

3.43

 

 

 

1,664,228

 

 

 

3.23

 

7.01 - 11.00

 

 

3,358,859

 

 

 

7.16

 

 

 

1,477,492

 

 

 

5.91

 

11.01 - 16.00

 

 

4,725,204

 

 

 

7.43

 

 

 

1,745,554

 

 

 

6.76

 

16.01 - 20.00

 

 

298,637

 

 

 

8.57

 

 

 

71,502

 

 

 

8.57

 

20.01 - 27.50

 

 

3,661,651

 

 

 

8.57

 

 

 

1,073,462

 

 

 

6.98

 

27.51 - 35.00

 

 

606,091

 

 

 

9.53

 

 

 

12,345

 

 

 

9.42

 

 

 

 

14,438,215

 

 

 

7.27

 

 

 

6,090,628

 

 

 

5.61