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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash and cash equivalents $ 144,411 $ 97,540
Marketable securities (amortized cost of $375,829 and $384,320, as of December 31, 2023 and 2022, respectively) 373,647 374,589
Short-term bank deposits 223,547 75,254
Accounts receivable, net of allowance for credit losses of $1,538 and $836, as of December 31, 2023 and 2022, respectively 42,362 26,997
Prepaid expense and other receivables 16,268 15,094
Inventories 45,095 39,897
TOTAL CURRENT ASSETS 845,330 629,371
NON-CURRENT ASSETS:    
Accounts receivable net of allowance for credit losses of $716 and $482 as of December 31, 2023 and 2022, respectively 3,670 3,973
Deferred income tax assets 1,506 3,094
Operating lease right-of-use assets 9,698 5,073
Property and equipment, net 2,382 2,298
Other investments 700 600
TOTAL NON-CURRENT ASSETS 17,956 15,038
TOTAL ASSETS 863,286 644,409
CURRENT LIABILITIES:    
Accounts payable 13,966 16,242
Contract liabilities 10,923 13,798
Other liabilities 39,247 51,980
TOTAL CURRENT LIABILITIES 64,136 82,020
NON-CURRENT LIABILITIES:    
Contract liabilities [1] 3,766 3,959
Other liabilities 1,399 303
Operating lease liabilities 6,613 3,509
TOTAL NON-CURRENT LIABILITIES 11,778 7,771
TOTAL LIABILITIES 75,914 89,791
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY:    
Ordinary shares, NIS 0.01 par value, authorized 100,000,000 shares at December 31, 2023 and 2022 Issued 85,957,465 and 84,519,994 shares at December 31, 2023 and 2022, respectively Outstanding 83,982,462 and 82,544,991 shares at December 31, 2023 and 2022, respectively 245 241
Additional paid-in capital 177,820 148,803
Retained earnings 693,426 495,507
Accumulated other comprehensive loss (1,679) (7,493)
Less treasury shares, at cost: 1,975,003 and 1,975,003 ordinary shares at December 31, 2023 and 2022, respectively (82,440) (82,440)
TOTAL SHAREHOLDERS’ EQUITY 787,372 554,618
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 863,286 $ 644,409
[1] As of December 31, 2022, noncurrent deferred revenue is estimated to be recognized as following: 83% in year 2024 and the rest in year 2025-2026.