XML 62 R44.htm IDEA: XBRL DOCUMENT v3.24.0.1
Share capital (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement, Recognized Amount [Abstract]  
Schedule of Share Capital
Share capital is composed as follows:
Issued and outstanding
Number of shares
December 31,
 20232022
Ordinary shares no par value107,075,754 105,049,411 
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 and for market condition awards. The Company also applied the Monte-Carlo simulation model, with the following underlying assumptions:
Year ended December 31,
 202320222021
Stock Option Plans
Expected term (years)
5.50-6.00
5.33-5.83
5.50-6.00
Expected volatility
63%-70%
60%-62%
60%-63%
Risk-free interest rate
3.48%-4.79%
1.58%-4.23%
0.78%-1.27%
Dividend yield0.00 %0.00 %0.00 %
ESPP
Expected term (years)0.500.500.50
Expected volatility
56%-122%
51%-77%
54%-81%
Risk-free interest rate
4.76%-5.38%
0.19%-2.52%
0.05%-0.09%
Dividend yield0.00 %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, 2023 and changes during the year ended on that date is presented below:
Year ended December 31, 2023
 
Number of
options
Weighted
average
exercise
price
Aggregate
intrinsic
value
Outstanding at beginning of year8,786,364 $37.27 
Granted1,192,916 55.65 
Exercised(827,078)13.73 
Forfeited and cancelled(612,695)65.82 
Outstanding at end of year8,539,507 $40.07 $10,631 
Exercisable options6,724,151 $31.60 $10,271 
Schedule of RSUs and PSUs
A summary of the status of the Company’s RSUs and PSUs as of December 31, 2023 and changes during the year ended on that date is presented below:
 
Year ended December 31, 2023
 Number of
RSUs/PSUs
Weighted
average
grant date
fair value
price
Aggregate
intrinsic
value
Unvested at beginning of year5,377,459 $66.87 
Granted1,878,261 57.60 
Vested(996,773)84.24 
Forfeited and cancelled(445,881)72.12 
Unvested at end of year (1)5,813,066 $60.52 $86,790 
(1)    Includes PSUs that have a mix of service, market and other milestone performance vesting conditions which are vested upon achievements of market and performance conditions which are not probable, as of December 31, 2023, in accordance with ASC 718 as follows:

December 31, 2023
Number of
PSUs		Fair value at grant date per PSUTotal fair value at grant date
2,703,852 $48.16 $130,218 
220,533 76.97 16,974 
249,402 80.59 20,099 
15,210 87.66 1,333 
10,532 $94.94 $1,000 
161,912 114.26 18,500 
3,361,441 $188,127 
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 incentive plans recognized for the years ended December 31, 2023, 2022 and 2021, was comprised as follows:
Year ended December 31,
 202320222021
Cost of revenues$6,587 $4,690 $3,471 
Research, development and clinical studies31,827 30,790 27,597 
Sales and marketing35,968 28,826 22,673 
General and administrative41,226 42,649 41,159 
Total share-based compensation expense$115,608 $106,955 $94,900 
Schedule of Stock Option Outstanding
Options outstanding as of December 31, 2023 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)
0.00 - 10.00
495,359 2.94495,359 2.94
10.01 - 20.00
2,613,654 3.582,392,761 3.00
20.01 - 30.00
1,584,459 3.411,584,459 3.41
30.01 - 40.00
365,769 6.27237,310 4.48
40.01 - 60.00
1,091,894 5.471,035,401 5.25
60.01 - 100.00
2,019,484 7.84776,561 6.75
100.01 - 160.00
359,626 7.20193,920 7.16
160.01 - 220.00
9,262 7.428,380 7.43
 8,539,507 5.06,724,151 4.1