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SHARE OPTION PLANS AND ESPP (Tables)
9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement, Recognized Amount [Abstract]  
Schedule of Stock Option Plans
A summary of the status of the Company’s option plans as of September 30, 2022 and changes during the period then ended is presented below:
Nine months ended September 30, 2022
Unaudited
Number
of options
Weighted
average
exercise
price
Outstanding at beginning of year8,549,322 $33.09 
Granted751,854 79.46 
Exercised(436,289)21.22 
Forfeited and canceled(108,517)83.57 
Outstanding as of September 30, 20228,756,370 $37.04 
Exercisable options7,104,809 $25.32 
Schedule of RSUs and PSUs A summary of the status of the Company’s RSUs and PSUs as of September 30, 2022 and changes during the period then ended is presented below.
Nine months ended September 30, 2022
Unaudited
Number
of RSU/PSUs
Weighted
average
grant date fair value
Unvested at beginning of year4,459,107 $65.56 
Granted1,195,654 80.21 
Vested(488,680)85.74 
Forfeited and cancelled(98,579)95.45 
Unvested as of September 30, 2022 (1)5,067,502 66.49 

(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 September 30, 2022, in accordance with ASC 718 as follows:
 September 30, 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 
7,605 $87.66 667 
10,532 94.94 1,000 
189,626 $114.26 21,667 
3,162,141 $172,602 
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: 
Nine months ended September 30,Year ended December 31,
2021
20222021
UnauditedAudited
Stock Option Plans
Expected term (years)
5.33-5.83
5.50-6.00
5.50-6.00
Expected volatility
60%-62%
60%-63%
60%-63%
Risk-free interest rate
1.58%-3.04%
0.78%-1.02%
0.78%-1.27%
Dividend yield0.00 %0.00 %0.00 %
ESPP
Expected term (years)0.500.500.50
Expected volatility
51%-77%
54%-81%
54%-81%
Risk-free interest rate
0.19%-2.52%
0.05%-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 and nine months ended September 30, 2022 and 2021 and the year ended December 31, 2021 was:
Three months ended September 30,Nine months ended September 30,Year ended December 31,
2021
2022202120222021
UnauditedUnauditedAudited
Cost of revenues$1,013 $808 $2,994 $2,368 $3,471 
Research, development and clinical studies7,430 7,761 21,855 21,390 27,597 
Sales and marketing7,686 5,806 21,143 16,706 22,673 
General and administrative10,176 11,383 31,181 32,038 41,159 
Total share-based compensation expense$26,305 $25,758 $77,173 $72,502 $94,900