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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 18,233 $ 11,903 $ 27,248
Adjustments required to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,158 1,119  
Amortization of marketable securities premiums and accretion of discounts, net 741 0  
Share-based compensation related to options and RSUs granted to employees and non-employees 6,353 3,476  
Increase in accrued interest and exchange rate effect of loans, marketable securities and bank deposits 23 1  
Decrease in deferred tax assets, net 1,647 3,127  
Increase in trade receivables, net (2,485) (2,643)  
Decrease (increase) in other receivables and prepaid expenses 797 (17)  
Decrease (increase) in inventories 3,954 (1,408)  
Decrease in operating lease right-of-use assets 3,862 3,898  
Decrease in operating lease liabilities (4,607) (4,184)  
Increase (decrease) in royalty buyout liability, net (59) 61  
Decrease in trade payables (4,368) (2,017)  
Increase in other payables and accrued expenses 232 369  
Increase in deferred revenues 5,589 3,206  
Increase (decrease) in accrued severance pay, net (992) 624  
Net cash provided by operating activities 30,078 17,515  
Cash flows from investing activities:      
Purchase of property and equipment (416) (641)  
Purchase of marketable securities (17,525) 0  
Proceeds from sale of marketable securities 510 0  
Proceeds from redemption of marketable securities 1,053 0  
Proceeds from short-term and restricted bank deposits 84,303 451  
Proceeds from long-term and restricted bank deposits 0 150  
Net cash provided by (used in) investing activities 67,925 (40)  
Cash flows from financing activities:      
Purchase of treasury stock (17,351) 0  
Repayment of long-term bank loans (600) (1,238)  
Cash dividends paid (5,302) (3,866)  
Proceeds from issuance of shares upon exercise of options and warrants 737 1,051  
Proceeds from issuance of shares in a public offering, net 0 85,654 85,426
Net cash provided by (used in) financing activities (22,516) 81,601  
Increase in cash, cash equivalents, and restricted cash 75,487 99,076  
Cash, cash equivalents and restricted cash at the beginning of the period 46,034 69,773 69,773
Cash, cash equivalents and restricted cash at the end of the period 121,521 168,849 $ 46,034
Supplemental disclosure of cash flow activities:      
Cash paid during the period for income taxes 879 306  
Cash paid during the period for interest 11 51  
Significant non-cash transactions:      
Inventory transferred to be used as property and equipment 408 214  
Right-of-use asset recognized with corresponding lease liability 757 699  
Decrease (increase) in other receivables due to hedging activities $ 1,356 $ (1,776)