XML 59 R43.htm IDEA: XBRL DOCUMENT

Share capital (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement, Recognized Amount [Abstract]

Share capital is composed as follows:


	Issued and outstanding Number of shares December 31,
	2022	2021
Ordinary shares no par value	105,049,411	103,971,263

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,
	2022		2021		2020
Stock Option Plans
Expected term (years)	5.33-5.83		5.50-6.00		5.50-6.00
Expected volatility	60%-62%		60%-63%		54%-56%
Risk-free interest rate	1.58%-4.23%		0.78%-1.27%		0.30%-0.86%
Dividend yield	0.00	%	0.00	%	0.00	%
ESPP
Expected term (years)	0.50		0.50		0.50
Expected volatility	51%-77%		54%-81%		47%-66%
Risk-free interest rate	0.19%-2.52%		0.05%-0.09%		0.17%-1.57%
Dividend yield	0.00	%	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, 2022 and changes during the year ended on that date is presented below:


	Year ended December 31, 2022
	Number of options	Weighted average exercise price		Aggregate intrinsic value
Outstanding at beginning of year	8,549,322	$	33.09
Granted	857,077	78.69
Exercised	(474,116)	21.55
Forfeited and cancelled	(145,919)	86.79
Outstanding at end of year	8,786,364	$	37.27	$	355,931
Exercisable options	7,103,058	$	25.53	$	350,025

Schedule of RSUs and PSUs

A summary of the status of the Company’s RSUs and PSUs as of December 31, 2022 and changes during the year ended on that date is presented below:


	Year ended December 31, 2022
	Number of RSUs/PSUs	Weighted average grant date fair value price		Aggregate intrinsic value
Unvested at beginning of year	4,459,107	$	65.56
Granted	1,572,203	79.45
Vested	(517,768)	86.56
Forfeited and cancelled	(136,083)	94.21
Unvested at end of year (1)	5,377,459	$	66.87	$	394,437

(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, 2022, in accordance with ASC 718 as follows:


December 31, 2022
Number of PSUs	Fair value at grant date per PSU		Total fair value at grant date
2,703,852	$	48.16	$	130,218
108,113	69.37		7,500
124,701	80.59		10,050
17,712	84.68		1,500
7,605	$	87.66	$	667
10,532	94.94		1,000
189,626	$	114.26	$	21,667
3,162,141			$	172,602

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, 2022, 2021 and 2020, was comprised as follows:


	Year ended December 31,
	2022		2021		2020
Cost of revenues	$	4,690	$	3,471	$	2,221
Research, development and clinical studies	30,790		27,597		18,125
Sales and marketing	28,826		22,673		17,672
General and administrative	42,649		41,159		37,703
Total share-based compensation expense	$	106,955	$	94,900	$	75,721

Schedule of Stock Option Outstanding

Options outstanding as of December 31, 2022 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	971,356	3.68	971,356	3.68
10.01 - 20.00	2,570,427	3.97	2,570,427	3.97
20.01 - 30.00	1,773,039	4.51	1,773,039	4.51
30.01 - 40.00	263,141	5.54	263,141	5.54
40.01 - 60.00	1,148,810	6.29	984,817	6.30
60.01 - 100.00	1,620,734	8.23	417,461	7.01
100.01 - 160.00	429,595	8.21	114,879	8.06
160.01 - 220.00	9,262	8.42	7,938	8.44
	8,786,364	5.4	7,103,058	4.7