Note 8 - Fair Value Measurements

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]

NOTE 8: - FAIR VALUE MEASUREMENTS

In accordance with ASC

820,

the Company measures its cash equivalents, marketable securities and foreign currency derivative contracts at fair value. Cash equivalents, marketable securities and foreign currency derivative contracts are classified within Level

1

or Level

2

value hierarchies. This is because cash equivalents, and marketable securities are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs. Foreign currency derivative contracts are classified within Level

2

value hierarchy as the valuation inputs are based on quoted prices and market observable data of similar instruments.

The following table provides information by value level for financial assets and liabilities that are measured at fair value on a recurring basis as of

December 

31,

2018:

	Balance as of		Fair value measurements
Description	December 31, 201 8		Level 1		Level 2		Level 3
Assets
Cash equivalents
Money market mutual funds	$	773	$	773		-		-
Short-term marketable securities and time deposits
U.S. GSE securities	$	1,785		-	$	1,785		-
Corporate debt securities	$	25,579		-	$	25,579		-
Long-term marketable securities
U.S. GSE securities	$	19,512		-	$	19,512		-
Corporate debt securities	$	50,896		-	$	50,896		-
Derivative liabilities	$	3		-	$	3		-

The following table provides information by value level for financial assets and liabilities that are measured at fair value on a recurring basis as of

December 

31,

2017

(see also Note

3

):

	Balance as of		Fair value measurements
Description	December 31, 201 7		Level 1		Level 2		Level 3
Assets
Cash equivalents
Money market mutual funds	$	2,998	$	2,998		-		-
Short-term marketable securities and time deposits
U.S. GSE securities	$	786		-	$	786		-
Corporate debt securities	$	18,430		-	$	18,430		-
Long-term marketable securities
U.S. GSE securities	$	21,258		-	$	21,258		-
Corporate debt securities	$	56,398		-	$	56,398		-

In addition to the assets and liabilities described above, the Company’s financial instruments also include cash and cash equivalents, restricted deposits, short term deposits, trade receivables, other accounts receivable, trade payables, accrued expenses and other payables. The fair value of these financial instruments was

not

materially different from their carrying value at

December 31, 2018

and

2017

due to the short-term maturity of these instruments.