XML 32 R21.htm IDEA: XBRL DOCUMENT v3.22.1
SHARE OPTION PLANS AND ESPP (Tables)
 3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Abstract]  
Schedule of Stock Option Plans
A summary of the status of the Company’s option plans as of March 31, 2022 and changes during the period then ended is presented below:
Three months ended March 31, 2022
Unaudited
Number
of options		Weighted
average
exercise
price
Outstanding at beginning of year8,549,322 $33.09 
Granted575,246 80.59 
Exercised(175,650)18.14 
Forfeited and canceled(13,467)77.31 
Outstanding as of March 31, 20228,935,451 $36.38 
Exercisable options5,787,733 $24.15 
Schedule of RSUs and PSUs
A summary of the status of the Company’s RSUs and PSUs as of March 31, 2022 and changes during the period then ended is presented below.
Three months ended March 31, 2022
Unaudited
Number
of RSU/PSUs		Weighted
average
grant date fair value
Unvested at beginning of year4,459,107 $65.56 
Granted964,555 80.59 
Vested(412,175)84.05 
Forfeited and cancelled(15,928)99.97 
Unvested as of March 31, 2022 (1)4,995,559 66.83 

(1) Includes PSUs that have a mix of service, market and other milestone performance vesting conditions which are vested upon achievements of performance milestones which are not probable, as of March 31, 2022, in accordance with ASC 718 as follows:
 March 31, 2022
Number of
PSUs		Fair value at grant date per PSUTotal fair value at grant date
2,703,852 $48.16 $130,218 
108,113 69.37 7,500 
124,701 80.59 10,050 
17,712 84.68 1,500 
10,532 94.94 1,000 
189,626 $114.26 21,667 
3,154,536 $171,935 
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. We assessed fair value using the following underlying assumptions: 
Three months ended March 31,Year ended December 31,
2021
20222021
UnauditedAudited
Stock Option Plans
Expected term (years)
5.33-5.83
5.86-6.00
5.50-6
Expected volatility
60%-62%
60%-60%
60%-63%
Risk-free interest rate
1.58%-1.61%
0.85%-0.88%
0.78%-1.27%
Dividend yield0.00 %0.00 %0.00 %
ESPP
Expected term (years)0.500.500.50
Expected volatility51 %54 %
54%-81%
Risk-free interest rate0.19 %0.09 %
0.05%-0.09%
Dividend yield0.00 %0.00 %0.00 %
Schedule of Non-cash Share-based Compensation Expense Related to Company's Equity-Based Awards The total non-cash share-based compensation expense related to all of the Company’s equity-based awards recognized for the three months ended March 31, 2022 and 2021 and the year ended December 31, 2021 was:
Three months ended March 31,Year ended December 31,
2021
20222021
UnauditedAudited
Cost of revenues$952 $733 $3,471 
Research, development and clinical studies6,801 5,124 27,597 
Sales and marketing6,655 4,471 22,673 
General and administrative10,637 8,535 41,159 
Total share-based compensation expense$25,045 $18,863 $94,900