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Share Capital
 9 Months Ended
Sep. 30, 2019
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract]  
Share Capital SHARE CAPITAL
In September 2015, the Company adopted the 2015 Omnibus Incentive Plan (the “2015 Plan”). Under the 2015 Plan, the Company can issue various types of equity compensation awards such as share options, restricted shares, performance shares, restricted stock units (“RSUs”), performance units, long-term cash awards and other share-based awards.
Options granted under the 2015 Plan generally have a four-year vesting period and expire ten years after the date of grant. Options granted under the 2015 Plan that are canceled or forfeited before expiration become available for future grants. RSUs granted under the 2015 Plan generally vest over a three-year period. RSUs granted under the 2015 Plan that are canceled before expiration become available for future grants. As of September 30, 2019, 11,915,754 ordinary shares were available for grant under the 2015 Plan.
A summary of the status of the Company’s option plans as of September 30, 2019 and changes during the period then ended is presented below: 
Nine months ended September 30, 2019
Unaudited
Number
of options		Weighted
average
exercise
price
Outstanding at beginning of year14,438,215  $13.56  
Granted1,496,161  49.43  
Exercised(4,914,918) 10.55  
Forfeited and canceled(144,403) 19.91  
Outstanding as of September 30, 201910,875,055  $19.77  
Exercisable options3,444,478  $14.61  
For the nine months, ended September 30, 2019, options to purchase 4,914,918 ordinary shares were exercised, resulting in the issuance of 4,914,918 ordinary shares.
A summary of the status of the Company’s RSUs as of September 30, 2019 and changes during the period then ended is presented below: 
Nine months ended September 30, 2019
Unaudited
Number
of RSUs		Weighted
average
grant date fair value
price
Unvested at beginning of year1,613,197  14.04  
Granted597,583  50.71  
Vested(736,411) 13.36  
Forfeited and cancelled(24,356) 34.32  
Unvested as of September 30, 20191,450,013  29.16  
In September 2015, the Company adopted an employee share purchase plan (“ESPP”) to encourage and enable eligible employees to acquire ownership of the Company’s ordinary shares purchased through accumulated payroll deductions on an after-tax basis. In the United States, the ESPP is intended to be an “employee stock purchase plan” within the meaning of Section 423 of the Internal Revenue Code and the provisions of the ESPP are construed in a manner consistent with the requirements of such section. As of September 30, 2019, 3,078,989 ordinary shares were available to be purchased by eligible employees under the ESPP and 390,614 shares had been issued under the ESPP.
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. We assessed fair value using the following underlying assumptions: 
Nine months ended September 30,Year ended December 31,
2018
20192018
UnauditedAudited
Stock Option Plans
Expected term (years)
5.50-6.50
5.50-6.25
5.50-6.25
Expected volatility
55%-61%
52%-55%
52%-55%
Risk-free interest rate
1.90%-2.40%
2.70%-2.89%
2.70%-2.99%
Dividend yield0.00 %0.00 %0.00 %
ESPP
Expected term (years)0.500.500.50
Expected volatility
44%-62%
45%-53%
45%-53%
Risk-free interest rate
2.10%-2.51%
1.61%-2.14%
1.61%-2.14%
Dividend yield0.00 %0.00 %0.00 %
The total non-cash share-based compensation expense related to all of the Company’s equity-based awards recognized for the three and nine months ended September 30, 2019 and 2018 and the year ended December 31, 2018 was:
Three months ended September 30,Nine months ended September 30,Year ended December 31,
2018
2019201820192018
UnauditedUnauditedAudited
Cost of revenues$605  $464  $1,626  $891  $1,261  
Research, development and clinical trials2,202  1,223  5,203  3,415  4,709  
Sales and marketing3,368  1,979  8,585  5,309  7,393  
General and administrative8,163  6,813  22,305  19,590  26,483  
Total share-based compensation expense$14,338  $10,479  $37,719  $29,205  $39,846