Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Cash, Cash Equivalents, Marketable Securities and Short-Term Deposits

The Company considers all investments purchased with maturities at the date of purchase greater than three months but less than one year to be short-term. Investments purchased with maturities at the date of purchase greater than one year are classified as long-term assets. Marketable securities are classified as available for sale and are, therefore, recorded at fair value on the consolidated balance sheet, with any unrealized gains and losses reported in accumulated other comprehensive loss, which is reflected as a separate component of stockholders’ equity in the Company’s consolidated balance sheets, until realized. The amortized cost of securities is adjusted for amortization of premiums and accretion of discounts to maturity. Such amortization and accretion is included as a component of financial income (expenses), net in the consolidated statement of operations. Cash, cash equivalents, marketable securities and deposits consist of the following (in thousands):


	As of December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash and cash equivalents
Money market funds	$	164,848	$	—	$	—	$	164,848
Total	$	164,848	$	—	$	—	$	164,848

Marketable securities
US Treasury securities	$	242,633	$	530	$	(1)	$	243,162
US Government Agency securities	9,972		41		—		10,013


Total	$	252,605	$	571	$	(1)	$	253,175

Short-term deposits
Term bank deposits	$	49,800	$	—	$	—	$	49,800
Total	$	49,800	$	—	$	—	$	49,800

Long-term marketable securities
US Treasury securities	$	209,961	$	1,102	$	—	$	211,063

Total	$	209,961	$	1,102	$	—	$	211,063


	As of December 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash and cash equivalents
Money market funds	$	278,022	$	—	$	—	$	278,022
Total	$	278,022	$	—	$	—	$	278,022

Marketable securities
US Treasury securities	$	159,165	$	2	$	(211)	$	158,956
US Government Agency securities	55,967		5		(72)		55,900
Commercial paper	13,679		—		—		13,679
Corporate bonds	7,804		4		(5)		7,803
Total	$	236,615	$	11	$	(288)	$	236,338

Short-term deposits
Term bank deposits	$	128,350	$	—	$	—	$	128,350
Total	$	128,350	$	—	$	—	$	128,350

Property, Plant and Equipment Estimated Useful Life

Depreciation is calculated using the straight-line method over the estimated useful lives of the assets at the following annual rates:


	%
Computer equipment		33%
Office furniture and equipment	14%	—	15%
Leasehold improvements		Over the shorter of the expected lease term or estimated useful life

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

Derivative instruments measured at fair value and their classification on the consolidated balance sheets are presented in the following table (in thousands):


	Assets (liabilities) as of				Liabilities as of
	December 31, 2023				December 31, 2022
	Notional Amount		Fair Value		Notional Amount		Fair Value
Foreign exchange forward contract derivatives in cash flow hedging relationships included in prepaid expenses and other current assets	$	128,411	$	3,372	$	—	$	—
Foreign exchange forward contract derivatives in cash flow hedging relationships included in accrued expenses and other short-term liabilities	$	—	$	—	$	136,426	$	(7,221)
Foreign exchange forward contract derivatives in cash flow hedging relationships included in long-term other assets	$	33,233	$	519	$	—	$	—
Foreign exchange forward contract derivatives in cash flow hedging relationships included in long-term other liabilities	$	102,216	$	(1,624)	$	107,210	$	(2,060)
Foreign exchange forward contract derivatives for monetary items included in prepaid expenses and other current assets	$	39,155	$	36	$	—	$	—
Foreign exchange forward contract derivatives for monetary items included in accrued expenses and other short-term liabilities	$	5,213	$	(7)	$	32,066	$	(226)