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Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

NOTE 1:- GENERAL

Kornit Digital Ltd. (the “Company”) was incorporated in 2002 under the laws of the State of Israel. The Company and its subsidiaries develop, design and market digital printing solutions for the global printed textile industry. The Company’s and its subsidiaries’ solutions are based on their proprietary digital textile printing systems, ink and other consumables, associated software and value-added services.

The Company established wholly owned subsidiaries in Israel, the United States, Germany, Hong Kong and the United Kingdom. The Company’s subsidiaries are engaged primarily in services, sales, and marketing, except for the Israeli subsidiary which is engaged primarily in research and development and manufacturing.

The Company depends on four major suppliers to supply certain components for the production of its products. If one of these suppliers fails to deliver or delays the delivery of the necessary components, the Company will be required to seek alternative sources of supply. A change in these suppliers could result in manufacturing delays, which could cause a possible loss of sales and, consequently, could adversely affect the Company’s results of operations and financial position.

On June 18, 2019, the Company closed a follow on and secondary offering where 4,991,000 ordinary shares were sold in the transaction to the public. The aggregate net proceeds received by the Company from the offering were $129,710, net of underwriting discounts, commissions and offering expenses.

Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Significant Accounting Policies [Text Block]

NOTE 2:- SIGNIFICANT ACCOUNTING POLICIES

The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”).

Use of estimates:

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. The Company’s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. Actual results could differ from those estimates.

On an ongoing basis, the Company’s management evaluates estimates, including those related to intangible assets and goodwill, tax assets and liabilities, fair values of stock-based awards, inventory write-offs, warranty provision, allowance for bad debt and provision for rebates and returns. Such estimates are based on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities.

Financial statements in United States dollars:

A majority of the revenues of the Company and its subsidiaries are denominated in U.S. dollars (“dollar” or “dollars”). The dollar is the primary currency of the economic environment in which the Company and its subsidiaries, other than the Company’s German subsidiary, operate. Thus, the functional and reporting currency of the Company and its subsidiaries, other than the Company’s German subsidiary, is the dollar. Accordingly, monetary accounts maintained in currencies other than the dollar are re-measured into U.S. dollars in accordance with Accounting Standards Codification (“ASC”) No. 830 “Foreign Currency Matters”. Changes in currency exchange rates between the Company’s functional currency and the currency in which a transaction is denominated are included in the Company’s results of operations as financial income, net in the period in which the currency exchange rates change.

For the Company’s subsidiary in Germany whose functional currency is the Euro, all amounts on the balance sheets have been translated into the dollar using the exchange rates in effect on the relevant balance sheet dates. All amounts in the statements of operations have been translated into the dollar using the exchange rate on the respective dates on which those elements are recognized. The resulting translation adjustments are reported as a component of accumulated other comprehensive income in shareholders’ equity.

Principles of consolidation:

The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany balances and transactions including profits from intercompany sales have been eliminated upon consolidation.

Cash equivalents:

Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three months or less, at acquisition.

Short-term bank deposits:

Short-term bank deposits are deposits with an original maturity of more than three months but less than one year from the date of acquisition.

Marketable securities:

The Company accounts for investments in marketable securities in accordance with ASC 320, “Investments - Debt and Equity Securities”. Management determines the appropriate classification of its investments at the time of purchase and re-evaluates such determinations at each balance sheet date. The Company classifies its marketable securities as either short-term or long-term based on each instrument’s underlying contractual maturity date and the entity’s expectations of sales and redemptions in the following year.

The Company classifies all of its marketable securities as available-for-sale. Available-for-sale securities are carried at fair value, with the unrealized gains and losses, net of tax, reported in “accumulated other comprehensive income (loss)” in shareholders’ equity. Realized gains and losses on sales of marketable securities are included in financial income, net and are derived using the specific identification method for determining the cost of securities.

The amortized cost of marketable securities is adjusted for amortization of premium and accretion of discount to maturity, both of which, together with interest, are included in financial income, net.

The Company recognizes an impairment charge when a decline in the fair value of its investments in marketable securities below the cost basis of such securities is judged to be other-than-temporary. Factors considered in making such a determination include the duration and severity of the impairment, the reason for the decline in value, the potential recovery period and the Company’s intent to sell, including whether it is more likely than not that the Company will be required to sell the investment before recovery of cost basis. For securities that are deemed other-than-temporarily impaired (“OTTI”), the amount of impairment is recognized in the statement of operations and is limited to the amount related to credit losses, while impairment related to other factors is recognized in accumulated other comprehensive income (loss). The Company did not recognize any impairment with respect to OTTI on its marketable securities in 2019, 2018 and 2017.

Inventories:

Inventories are measured at the lower of cost or net realizable value. The cost of inventories comprises costs of purchase and costs incurred in bringing the inventories to their present location and condition. Inventory write-off is measured as the difference between the cost of the inventory and net realizable value based upon assumptions about future demand and is charged to the cost of sales.

Cost of inventories is determined as follows:

Raw materials and components - on the basis of weighted average cost.

Finished products - on the basis of average costs of materials, and other direct manufacturing cost.

Inventory write offs have been provided to cover risks arising from slow-moving items, technological obsolescence and excess inventories according to revenue forecasts.

During the years ended December 31, 2019, 2018 and 2017, the Company recorded inventory write offs in a total amount of $2,624, $1,759 and $2,988, respectively.

Property, plant and equipment:

Property, plant and equipment are measured at cost, including directly attributable costs, less accumulated depreciation and accumulated impairment losses. Depreciation is calculated on a straight-line basis over the useful life of the assets at annual rates as follows:

	%
Office furniture and equipment		7 - 20
Computer and peripheral equipment		33
Machinery and equipment		7 - 33
Leasehold improvements		*)
Building and land		**)

Leasehold improvements are amortized on a straight-line basis over the shorter of the lease term (including the extension option held by the Company and intended to be exercised) and the expected life of the improvement.

**)

Building and land consist of land and a new ink manufacturing plant. In September 2018 the company purchased the land which includes long-term leasehold rights, with lease term of 98 years. As of December 31, 2019, the ink manufacturing plant is under construction. Depreciation of the manufacturing plant will begin upon completion of its construction.

Business combinations:

The Company accounts for business combinations in accordance with ASC No. 805, “Business Combinations” (“ASC No. 805”). ASC No. 805 requires recognition of assets acquired, liabilities assumed, and any non-controlling interest at the acquisition date, measured at their fair values as of that date.

Acquisition related costs are expensed to the statement of operations in the period incurred.

Goodwill and other intangible assets:

Goodwill reflects the excess of the purchase price of business acquired over the fair value of net assets acquired. Under ASC No. 350, “Intangibles – Goodwill and other” (“ASC No. 350”), goodwill is not amortized but rather is tested for impairment at least annually or more frequently if events or changes in circumstances indicate that the carrying value may be impaired. In accordance with ASC No. 350, the Company performs an annual impairment test on December 31 of each year.

The Company operates in one operating segment and this segment comprises the only reporting unit. The Company tests goodwill using the two-step process in accordance with ASC No. 350. The first step, identifying a potential impairment, compares the fair value of the reporting unit with its carrying amount. If the carrying amount exceeds its fair value, the second step would need to be performed; otherwise, no further step is required. The second step, measuring the impairment loss, compares the implied fair value of the goodwill with the carrying amount of the goodwill. Any excess of the goodwill carrying amount over the applied fair value is recognized as an impairment loss, and the carrying value of goodwill is written down to fair value.

During the years ended December 31, 2019, 2018 and 2017, no impairment of goodwill has been identified.

The intangible assets of the Company are not considered to have an indefinite useful life and are amortized over their useful lives. Customer relationships are amortized over their estimated useful lives in proportion to the economic benefits realized. This accounting policy results in accelerated amortization of such assets as compared to the straight-line method. Acquired technology and non-competition agreements are amortized on a straight-line basis.

Impairment of long-lived assets and intangible assets subject to amortization:

Property, plant and equipment and intangible assets subject to amortization are reviewed for impairment in accordance with ASC No. 360, “Accounting for the Impairment or Disposal of Long-Lived Assets,” whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets.

During the years ended December 31, 2019, 2018 and 2017, no impairment losses were recorded.

Revenue recognition:

The Company generates revenues from sales of systems, consumables and services. The Company generates revenues from sale of its products directly to end-users and indirectly through independent distributors, all of whom are considered end-users.

The Company recognizes revenues in accordance with ASC No. 606, “Revenue from Contracts with Customers”. As such, the Company recognizes revenue under the core principle that transfer of control to the Company’s customers should be depicted in an amount reflecting the consideration the Company expects to receive in revenue. Therefore, the Company identifies a contract with a customer, identifies the performance obligations in the contract, determines the transaction price, allocates the transaction price to each performance obligation in the contract and recognizes revenues when, or as, the Company satisfies a performance obligation.

Revenues from products, which consist of systems and consumables, are recognized at the point of time when control has transferred, in accordance with the agreed-upon delivery terms. Revenues from services are derived mainly from the sale of print heads, spare parts, upgrade kits and sale of service contracts. The Company’s print heads, spare parts and upgrade kits revenues (collectively “Spare parts”) are recognized at the point of time when control has transferred, in accordance with the agreed-upon delivery terms. Service contracts are recognized over time, on a straight-line basis, over the period of the service.

For multiple performance obligations arrangements, such as selling a system with service contract, installation and training, the Company accounts for each performance obligation separately as it is distinct. The transaction price is allocated to each distinct performance obligation on a relative standalone selling price (“SSP”) basis and revenue is recognized for each performance obligation when control has passed. In most cases, the Company is able to establish SSP based on the observable prices of services sold separately in comparable circumstances to similar customers and for products based on the Company’s best estimates of the price at which the Company would have sold the product regularly on a stand-alone basis. The Company reassesses the SSP on a periodic basis or when facts and circumstances change.

The Company does not account for training and installation as a separate performance obligation due to its immateriality in the context of its contracts. Accordingly, revenues from training and installation are recognized upon the delivery of its systems.

The Company periodically provides customer incentive programs in the form of product discounts, volume-based rebates and warrants (see also note 10f), which are accounted for as a variable consideration that are deducted from revenue in the period in which the revenue is recognized. These reductions to revenue are made based upon reasonable and reliable estimates that are determined according to historical experience and the specific terms and conditions of the incentive.

Although, in general, the Company does not grant rights of return, there are certain instances where such rights are granted. The Company maintains a provision for returns which is estimated, based primarily on historical experience as well as management judgment, and is recorded as reduction of revenue. Such provision amounted to $721 and $570 as of December 31, 2019 and 2018, respectively and is included in accrued expenses and other current liabilities in the consolidated balance sheet.

Contract liabilities include amounts received from customers for which revenue has not yet been recognized. Contract liabilities amounted to $2,867 and $3,931 as of December 31, 2019 and 2018, respectively and are presented under deferred revenues and advances from customers and other long-term liabilities. During the year ended December 31, 2019, the Company recognized revenues in the amount of $1,560 which have been included in the contract liabilities at January 1, 2019.

In cases where the Company’s customers trade-in old systems as part of sales of new systems, the fair value of the old systems is recorded as inventory, provided that such value can be determined.

Revenue disaggregated by revenue source consists of the following:

	Year ended December 31,
	2019		2018		2017

Systems	$	91,353	$	65,825	$	50,498
Ink and consumables		65,241		59,904		51,455
Spare parts		16,884		12,377		9,652
Service contracts		6,388		4,267		2,483

Total revenue	$	179,866	$	142,373	$	114,088

The following table presents revenue disaggregated by geography based on customer location:

	Year ended December 31,
	2019		2018		2017

U.S	$	100,457	$	77,652	$	60,541
EMEA		48,810		45,195		32,015
Asia Pacific		22,101		15,572		16,092
Other		8,498		3,954		5,440

Total revenue	$	179,866	$	142,373	$	114,088

Remaining performance obligations represents contracted revenues that have not yet been recognized, which includes deferred revenues and non-cancelable contracts that will be invoiced and recognized as revenue in future periods. The following table represents the remaining performance obligations as of December 31, 2019, which are expected to be satisfied and recognized in future periods:

		2020				2021				2022 and thereafter
Services		$	5,219			$	483			$	17

The Company elected to apply the optional exemption under paragraph 606-10-50-14(a) not to disclose the remaining performance obligations that relate to contracts with an original expected duration of one year or less for which deferred revenues have not been recorded yet.

Shipping and Handling:

Shipping and handling fees charged to the Company’s customers are recognized as revenue in the period shipped and the related costs for providing these services are recorded as a cost of revenues. Revenues from shipping in the years ended December 31, 2019, 2018 and 2017 were $1,639, $1,702 and $1,355, respectively.

Cost of revenues:

Cost of revenues is comprised mainly of cost of systems and ink production, employees’ salaries and related costs, allocated overhead expenses, import taxes, royalties and shipping and handling fees.

Warranty costs:

The Company typically provides assurance type warranty for six months on the systems including parts and labor. A provision is recorded for estimated warranty costs at the time revenues are recognized based on historical warranty costs and management’s estimates. Factors that affect the Company’s warranty liability include the number of systems, historical rates of warranty claims and cost per claim. The Company periodically assesses the adequacy of its recorded warranty liabilities and adjusts the amounts thereof as necessary.

The followings are the changes in the liability for product warranty from January 1, 2018 to December 31, 2019:

Balance at January 1, 2018	$	1,777
Provision for warranties issued during the year		3,381
Reduction for payments and costs to satisfy claims		(2,921	)

Balance at December 31, 2018		2,237

Provision for warranties issued during the year		2,977
Reduction for payments and costs to satisfy claims		(3,600	)

Balance at December 31, 2019	$	1,614

Research and development expenses:

Research and development expenses are charged to the statement of operations, as incurred, except for development expenses which are capitalized as described in note 2q.

Internal use software:

The Company capitalizes qualifying costs incurred during the application development stage related to software developed for internal use. These costs are capitalized based on qualifying criteria. Such costs are amortized over the software’s estimated life of three years. Costs incurred to develop software applications consist of (a) certain external direct costs of materials and services incurred in developing or obtaining internal-use computer software, and (b) payroll and payroll-related costs for employees who are directly associated with, and who devote time to, the development or implementation of the software. Capitalized internal-use software costs are included in intangibles assets, net in the consolidated balance sheet.

Restructuring:

Restructuring consists of costs primarily related to early retirement or retention agreements with employees of the Company’s Wisconsin facility in connection with the transition of its U.S headquarters to the East Coast in the United States.

Accounting for share-based compensation:

The Company accounts for share based compensation in accordance with ASC No. 718, “Compensation - Stock Compensation” (“ASC No. 718”) that requires companies to estimate the fair value of equity-based payment awards on the date of grant using an option-pricing model. The value of the award is recognized as an expense over the requisite service periods in the Company’s consolidated statement of operations.

The Company selected the binomial option pricing model as the most appropriate fair value method for its stock options awards with the following assumptions for the years ended December 31, 2019, 2018 and 2017:

	Year ended December 31,
	2019			2018			2017

Suboptimal exercise multiple		1.0-1.5			1.0-1.5			1.0-1.5
Risk free interest rate		1.5%-2.7	%		2.0%-3.1	%		2.2%-2.3	%
Volatility		47%-48	%		47%-51	%		51%-53	%
Dividend yield		0	%		0	%		0	%

The expected volatility is based on volatility of the Company’s share price and similar companies whose share prices are publicly available over an historical period equivalent to the option’s expected term. The computation of the suboptimal exercise multiple based on empirical studies, the early exercise factor of public companies is approximately 100% for employees and 150% for managers.

The interest rate for period within the contractual life of the award is based on the U.S. Treasury Bills yield curve in effect at the time of grant. The Company currently has no plans to distribute dividends and intends to retain future earnings to finance the development of its business.

The fair value of each restricted stock unit (“RSU”) is the market value as determined by the closing price of the common share prior to the day of grant.

The Company recognizes compensation expenses for the value of its awards, which have graded vesting based on service conditions, using the straight-line method, over the requisite service period of each of the awards. The Company recognizes forfeitures of awards as they occur.

Derivatives and hedging:

The Company follows FASB ASC No. 815,” Derivatives and Hedging” which requires companies to recognize all of their derivative instruments as either assets or liabilities in the statement of financial position at fair value. Accounting for changes in fair value (i.e., gains or losses) of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging transaction and further, on the type of hedging transaction. For those derivative instruments that are designated and qualify as hedging instruments, a company must designate the hedging instrument, based upon the exposure being hedged, as a fair value hedge, cash flow hedge, or a hedge of a net investment in a foreign operation. Due to the Company’s global operations, it is exposed to foreign currency exchange rate fluctuations in the normal course of its business.

The Company uses derivative financial instruments, specifically foreign currency forward and option contracts (“Hedging Contracts”), to manage exposure to foreign currency risks, by hedging a portion of the Company’s forecasted payroll and related expenses denominated in New Israeli Shekels expected to incur within a year. The effect of exchange rate changes on foreign currency hedging contracts is expected to partially offset the effect of exchange rate changes on the underlying hedged item.

For derivative instruments that are designated and qualify as a cash flow hedge (i.e., hedging the exposure to variability in expected future cash flows that is attributable to a particular risk), the gain or loss on the derivative instrument is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains or losses from contracts that were not designated as hedging instruments are recognized in “financial income (expenses), net”.

The Company measured the fair value of these contracts in accordance with ASC No. 820, “Fair Value Measurements and Disclosures” (“ASC No. 820”), and they were classified as level 2 of the fair value hierarchy.

Derivative instruments notional amounts

The following table summarizes the notional amounts for hedged items, when transactions are designated as hedge accounting:

	December 31,		December 31,
	2019		2018

Cash flow hedge	$	6,399	$	10,581

Derivative instrument outstanding

As of December 31, 2019 and 2018, the fair value of the Company’s outstanding forward and option contracts amounted to $16 and $(111) which is included within “Other accounts receivable and prepaid expenses” and “Other payables and accrued expenses”, respectively on the balance sheets.

Derivative instrument gains and losses

During the year ended December 31, 2019, 2018 and 2017, the company recorded pretax income (expenses) of $16, $(21) and $18, respectively from derivatives designated in cash flow hedging relationships.

The Company’s outstanding derivatives designated as cash flow hedging instruments and their related gains and losses, are reported in the statement of cash flows as cash flows from operating activities.

The maximum length of time over which the Company is hedging its exposure to the variability in future cash flows for forecasted transactions is less than 12 months.

Advertising:

Advertising costs are charged to operations as incurred and were $1,981, $1,077 and $612 for the years ended December 31, 2019, 2018 and 2017, respectively.

Income taxes:

The Company accounts for income taxes and uncertain tax positions in accordance with ASC No. 740, “Income Taxes” (“ASC No. 740”). ASC No. 740 prescribes the use of the liability method, whereby deferred tax asset and liability account balances are determined based on temporary differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company provides a valuation allowance, if necessary, to reduce deferred tax assets to amounts more likely than not to be realized. Deferred tax assets and liabilities are classified to non-current assets and liabilities, respectively.

ASC No. 740 contains a two-step approach to recognizing and measuring a liability for uncertain tax positions. The first step is to evaluate the tax position taken or expected to be taken in a tax return by determining if the weight of available evidence indicates that it is more likely than not that, on an evaluation of the technical merits, the tax position will be sustained on audit, including resolution of any related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon ultimate settlement. The Company accrues interest and penalties related to unrecognized tax benefits on its taxes on income.

Concentrations of credit risks:

Financial instruments that potentially subject the Company and its subsidiaries to concentrations of credit risk consist principally of cash and cash equivalents, bank deposits, marketable securities, foreign exchange contracts and trade receivables.

The majority of the Company’s and its subsidiaries’ cash and cash equivalents, bank deposits and marketable securities are invested in major banks in Israel and the U.S. Generally, these cash equivalents may be redeemed upon demand and, therefore management believes that it bears a lower risk.

The Company attempts to limit its exposure to interest rate risk by investing in securities with maturities of less than three years; however, the Company may be unable to successfully limit its risk to interest rate fluctuations. At any time, a sharp rise in interest rates could have a material adverse impact on the fair value of its investment portfolio. Conversely, declines in interest rates could have a material favorable impact on the fair value of its investment portfolio. Increases or decreases in interest rates could have a material impact on interest earnings related to new investments during the period.

The trade receivables of the Company and its subsidiaries are mainly derived from sales to customers located in the United States, Europe, the Middle East, Africa and Asia Pacific. The Company performs ongoing credit evaluations of its customers. In certain circumstances, the Company may require from its customers letters of credit, other collateral or additional guarantees. An allowance for doubtful accounts is determined with respect to those amounts that the Company has determined to be doubtful of collection. Historically, the Company has not recorded allowance for doubtful accounts, however certain immaterial bad debt expenses amounting to $26, $19 and $97 were recorded for the years ended December 31, 2019, 2018 and 2017 respectively.

Severance pay:

The Company’s employees in Israel have subscribed to Section 14 of Israel’s Severance Pay Law, 5723-1963 (“Section 14”). Pursuant to Section 14, the Company’s employees, covered by this section, are entitled only to monthly deposits, at a rate of 8.33% of their monthly salary, made on their behalf by the Company. Payments in accordance with Section 14 release the Company from any future severance liabilities in respect of those employees. Neither severance pay liability nor severance pay fund under Section 14 for such employees is recorded on the Company’s balance sheet.

With regards to employees in Israel that are not subject to Section 14, the Company’s liability for severance pay is calculated pursuant to the Severance Pay Law, based on the most recent salary of the relevant employees multiplied by the number of years of employment as of the balance sheet date. These employees are entitled to one-month salary for each year of employment or a portion thereof. The Company’s liability for these employees is fully provided for via monthly deposits with severance pay funds, insurance policies and an accrual. The value of these deposits is recorded as an asset with other assets on the Company’s balance sheet.

The deposited funds include profits accumulated up to the balance sheet date. The deposited funds may be withdrawn only upon the fulfillment of the obligation pursuant to the Severance Pay Law or labor agreements.

Severance expenses for the years ended December 31, 2019, 2018 and 2017 were $1,808, $1,483 and $1,394 respectively.

Fair value of financial instruments:

The Company applies ASC No. 820 Under this standard, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date.

In determining fair value, the Company uses various valuation approaches. ASC No. 820 establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.

The hierarchy is broken down into three levels based on the inputs as follows:

	Level 1 -	Valuations based on quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company can access at the measurement date.

	Level 2 -	Valuations based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.

	Level 3 -	Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

The carrying amount of cash, cash equivalents, short term bank deposits, trade receivables, other accounts receivable, trade payables and other accounts payable and accrued expenses approximates their fair value due to the short-term maturities of such instruments.

The Company measures its marketable securities and foreign currency derivative instruments at fair value. Marketable securities and foreign currency derivative instruments are classified within Level 2 as the valuation inputs are based on quoted prices and market observable data of similar instruments.

Comprehensive income:

The Company accounts for comprehensive income in accordance with FASB ASC No. 220, “Comprehensive Income.” Comprehensive income generally represents all changes in shareholders’ equity during the period except those resulting from investments by, or distributions to, shareholders. The Company determined that its items of other comprehensive income relate to gains and losses on hedging derivative instruments, unrealized gains and losses on marketable securities and unrealized gain and losses from foreign currency translation adjustments.

aa.

Basic and diluted earnings per share:

Basic earnings per share is computed based on the weighted average number of ordinary shares outstanding during each period. Diluted earnings per share is computed based on the weighted average number of ordinary shares outstanding during each period, plus dilutive potential ordinary shares considered outstanding during the period, in accordance with ASC No. 260, “Earnings Per Share”.

The total number of shares related to the outstanding options and RSU’s excluded from the calculation of diluted earnings per share due to their anti-dilutive effect was 536,359 and 884,028 for the years ended December 31, 2019 and 2018, respectively. For the year ended December 31, 2017, all outstanding options and RSU’s have been excluded from the calculation of the diluted earnings per share since their effect was anti-dilutive.

bb.

Recently adopted accounting standard:

In June 2018, the FASB issued ASU No. 2018-07, “Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting.” These amendments expand the scope of Topic 718, Compensation - Stock Compensation (which currently only includes share-based payments to employees) to include share-based payments issued to nonemployees for goods or services. Consequently, the accounting for share-based payments to nonemployees and employees will be substantially aligned. This ASU supersedes Subtopic 505-50, Equity - Equity-Based Payments to Non-Employees. The guidance is effective for the interim and annual periods beginning after December 15, 2018, and early adoption is permitted. The Company adopted this update as of January 1, 2019 with no material impact on its consolidated financial statements.

In November 2019, the FASB issued ASU No. 2019-08, “Compensation - Stock Compensation (Topic 718) and Revenue from Contract with Customers (Topic 606): Codification Improvements Share-Based Consideration Payable to a Customer.” These amendments expand the scope of Topic 718, Compensation - Stock Compensation to include share-based payments issued to customers in conjunction with selling goods or services. Consequently, the accounting for share-based payments to customers will be measured and classified according to Topic 718. The guidance is effective for the interim and annual periods beginning after December 15, 2018, and early adoption is permitted. The Company adopted this update as of January 1, 2019 and used the fair value of the share-based payments on the adoption date.

See note 10g for additional disclosures.

In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2016-02 (Topic 842) “Leases.” Topic 842 supersedes the lease requirements in Accounting Standards Codification (ASC) Topic 840, “Leases.” Under Topic 842, lessees are required to recognize assets and liabilities on the balance sheet for most leases and provide enhanced disclosures.

On January 1, 2019, the Company adopted Topic 842 and elected the available practical expedient to recognize the cumulative effect of initially adopting Topic 842 as an adjustment to the opening balance sheet of the period of adoption (i.e., January 1, 2019). The Company also elected the other available practical expedients and will not separate lease components from non-lease components, will not reassess whether contracts are or contain leases, lease classification, or initial direct costs for existing leases as of January 1, 2019. In addition, the Company elected not to apply the transition requirements for leases for which the lease term is less than 12 months. The consolidated balance sheets and results from operations for reporting periods beginning after January 1, 2019 are presented under Topic 842, while prior period amounts are not adjusted and continue to be reported in accordance with the historic accounting under Topic 840.

The Company leases real estate, cars and storage areas, all classified as operating leases. In addition to rent payments, the leases may require the Company to pay for insurance, maintenance and other operating expenses.

The Company determines if an arrangement is a lease at inception. Lease classification is governed by five criteria in ASC 842-10-25-2. If any of these five criteria is met, the Company classifies the lease as a finance lease. Otherwise, The Company classifies the lease as an operating lease. As of December 31, 2019, all arrangements were classified as operating leases.

Operating leases are included in operating lease right-of-use (“ROU”) assets and operating lease liabilities in the consolidated balance sheets. ROU assets represent The Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. The Company uses its incremental borrowing rate based on the information available at the commencement date to determine the present value of the lease payments. Operating lease expenses are recognized on a straight-line basis over the lease term. Several of the Company’s leases include option to extend the lease and some have termination options that are factored into the Company’s determination of the lease payments when appropriate. For purposes of calculating lease liabilities, lease terms include options to extend or terminate the lease when it is reasonably certain that the company will exercise such options. Some of the lease agreements include rental payments adjusted periodically for inflation. The Company’s lease agreements do not contain any material residual value guarantees.

The new standard also provides practical expedients for an entity’s ongoing accounting. The Company elected the short-term lease recognition exemption for all leases with a term shorter than 12 months. This means that for those leases, the Company does not recognize ROU assets or lease liabilities, including not recognizing ROU assets or lease liabilities for existing short-term leases of those assets in transition, but recognizes lease expenses over the lease term on a straight-line basis. The Company also elected the practical expedient to not separate lease and non-lease components for all of the Company’s leases.

The Company does not believe the new lease standard will have a notable impact on its liquidity. The new standard will have no impact on the Company’s financial covenant compliance under its credit lines.

The Company recorded upon adoption as of January 1, 2019, right-of-use leased assets and corresponding liabilities of $14,905.

See note 13 for additional disclosures.

In August 2017, the FASB issued ASU No. 2017-12 (Topic 815) Derivatives and Hedging — Targeted Improvements to Accounting for Hedging Activities, which expands an entity’s ability to hedge financial and nonfinancial risk components and amends how companies assess effectiveness as well as changes the presentation and disclosure requirements. The new standard is to be applied on a modified retrospective basis and is effective for interim and annual periods beginning after December 15, 2018, with early adoption permitted. The Company adopted the provisions of this update as of January 1, 2019 with no material impact on its consolidated financial statements.

See note 2t for additional disclosures.

cc.

Impact of recently issued accounting standard and not yet adopted:

In June 2016, the FASB issued Accounting Standards Update No. 2016-13 (ASU 2016-13) “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. ASU 2016-13 replaces the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. ASU 2016-13 is effective for annual reporting periods, and interim periods within those years, beginning after December 15, 2019. The Company does not expect this ASU to have a material impact on its consolidated financial statements and related disclosures.

In January 2017, the FASB issued Accounting Standards Update No. 2017-04 (ASU 2017-04) “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” ASU 2017-04 eliminates step two of the goodwill impairment test and specifies that goodwill impairment should be measured by comparing the fair value of a reporting unit with its carrying amount. Additionally, the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount of net assets should be disclosed. ASU 2017-04 is effective for annual or interim goodwill impairment tests performed in fiscal years beginning after December 15, 2019, with early adoption permitted. The Company does not expect that this new guidance will have a material impact on the Company’s Consolidated Financial Statements.

Acquisition

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

NOTE 3:- ACQUISITION

On February 7, 2019 (the “Closing Date”), the Company, through its wholly owned subsidiary Kornit Digital North America Inc., acquired the business and certain assets of Hirsch Solutions Inc., (“Hirsch”) its distributor in North America. Under the related acquisition agreement, the total consideration of $4,715 was paid at the closing date.

In addition, the Company incurred acquisition-related costs in a total amount of $85. Acquisition-related costs include legal, accounting, consulting fees and other external costs directly related to the acquisition.

The main reasons for this acquisition are to improve connectivity with customers by expanding leadership position in the digital textile market as well as providing direct access to a large number of traditional screen-printing customers.

Purchase price allocation:

Under business combination accounting principles, the total purchase price was allocated to Hirsch’s net tangible and intangible assets based on their estimated fair values as set forth below. The excess of the purchase price over the net tangible and identifiable intangible assets was recorded as goodwill.

The purchase price allocation for the acquisition has been determined at the follows:

	Fair Value		Amortization period (years)
Tangible Assets
Inventory	$	3,353

Intangible Assets:
Customer Relationships (*)	$	890		5.9
Goodwill		472		Infinite

Total purchase price	$	4,715

(*)

Customer relationships represent the underlying relationships and agreements with Hirsch’s installed customer base and are amortized over the useful life of the agreements using accelerated method.

In performing the purchase price allocation, the Company considered, among other factors, analysis of historical financial performance, the best use of the acquired assets and estimates of future performance of Hirsch’s installed base. In its allocation, applying the market’s participant approach, the Company determined the fair values of the acquired inventory based on estimated selling price adjusted for cost of selling efforts and a reasonable profit allowance and the acquired customer relationships based on their future expected cash flows.

Pro forma results of operations related to this acquisition have not been prepared because they are not material to the Company’s consolidated statements of operations.

Fair Value Measurements

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

NOTE 4:- FAIR VALUE MEASUREMENTS

The following is a summary of marketable securities:

	December 31, 2019
	Amortized cost		Gross unrealized gain		Gross unrealized loss			Fair value

Matures within one year:
Corporate debentures	$	27,624	$	24	$	(11	)	$	27,637
Government debentures		4,930		-		-			4,930
		32,554		24		(11	)		32,567

Matures after one year through three years:
Corporate debentures		91,887		575		(117	)		92,345
Government debentures		3,030		21		(3	)		3,048
		94,917		596		(120	)		95,393

Total	$	127,471	$	620	$	(131	)	$	127,960

	December 31, 2018
	Amortized cost		Gross unrealized gain		Gross unrealized loss			Fair value

Matures within one year:
Corporate debentures	$	3,999	$	-	$	(18	)	$	3,981
		3,999		-		(18	)		3,981

Matures after one year through three years:
Corporate debentures		33,698		29		(346	)		33,381
Government debentures		11,360		-		(138	)		11,222
		45,058		29		(484	)		44,603

Total	$	49,057	$	29	$	(502	)	$	48,584

Investments with continuous unrealized losses for less than 12 months and 12 months or greater and their related fair values were as follows:

	December 31, 2019
	Less than 12 months					12 months or greater					Total
	Fair value		Unrealized Losses			Fair value		Unrealized Losses			Fair value		Unrealized Losses

Corporate debentures	$	57,753	$	(127	)	$	3,801	$	(1	)	$	61,554	$	(128	)
Government debentures		2,552		(3	)		-		-			2,552		(3	)

Total	$	60,305	$	(130	)	$	3,801	$	(1	)	$	64,106	$	(131	)

	December 31, 2018
	Less than 12 months					12 months or greater					Total
	Fair value		Unrealized Losses			Fair value		Unrealized Losses			Fair value		Unrealized Losses

Corporate debentures	$	12,017	$	(126	)	$	16,547	$	(238	)	$	28,564	$	(364	)
Government debentures		8,864		(117	)		2,357		(21	)		11,221		(138	)

Total	$	20,881	$	(243	)	$	18,904	$	(259	)	$	39,785	$	(502	)

The below table sets forth the Company’s assets and liabilities that were measured at fair value as of December 31, 2019 and 2018 by level within the fair value hierarchy.

	December 31, 2019
	Level 1		Level 2		Level 3		Total
Assets:
Marketable securities	$	-	$	127,960	$	-	$	127,960
Foreign currency derivative contracts		-		16		-		16

Total financial assets	$	-	$	127,976	$	-	$	127,976

	December 31, 2018
	Level 1		Level 2		Level 3		Total
Assets:
Marketable securities	$	-	$	48,584	$	-	$	48,584

Total financial assets	$	-	$	48,584	$	-	$	48,584

Liabilities:
Foreign currency derivative contracts	$	-	$	111	$	-	$	111

Total financial liabilities	$	-	$	111	$	-	$	111

Inventory Disclosure [Text Block]

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Inventories

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

NOTE 5:- INVENTORIES

	December 31,
	2019		2018

Raw materials and components	$	21,402	$	17,425
Finished products (*)		16,075		12,605

	$	37,477	$	30,030

(*)

Including amounts of $0 and $836 for the years ended December 31, 2019 and 2018, respectively, with respect to inventory delivered to customers for which revenue was not yet recognized.

Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NOTE 6:- PROPERTY, PLANT AND EQUIPMENT, NET

	December 31,
	2019			2018
Cost:

Computer and peripheral equipment	$	3,748		$	3,182
Office furniture and equipment		1,818			1,757
Machinery and equipment		13,823			12,230
Leasehold improvements		8,337			8,505
Building and land		6,524			3,343

		34,250			29,017

Accumulated depreciation		(16,761	)		(14,023	)

Property, plant and equipment, net	$	17,489		$	14,994

Depreciation expenses for the years ended December 31, 2019, 2018 and 2017 were $3,611, $3,900 and $3,505 respectively.

During the years ended December 31, 2019, 2018 and 2017, the Company recorded a reduction of $868, $861 and $298, respectively to the cost and accumulated depreciation of fully depreciated equipment no longer used.

Intangible Assets, Net

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

NOTE 7:- INTANGIBLE ASSETS, NET

Intangible assets are comprised of the following:

	Weighted average amortization period	December 31,
	Years	2019		2018
Original amount:
Acquired technology	8.14	$	1,566	$	1,566
Customer relationships	5.23		3,504		2,614
Non-competition agreement	4		265		265
Software development costs	3		1,199		-
Distribution rights	1		250		-

		$	6,784	$	4,445
Accumulated amortization:
Acquired technology			1,066		966
Customer relationships			2,849		2,302
Non-competition agreement			232		166
Software development costs			-		-
Distribution rights			143		-

			4,290		3,434

Intangible assets, net		$	2,494	$	1,011

Amortization expenses for the years ended December 31, 2019, 2018 and 2017 were $856, $1,065 and $1,309, respectively.

Future amortization expenses for the years ending:

December 31,

2020	$	828
2021		697
2022		608
2023		208
2024 and thereafter		153

	$	2,494

Other Payables and Accrued Expenses

12 Months Ended

Dec. 31, 2019

Other Payable and Accrued Expenses Disclosure [Abstract]

Other Payable and Accrued Expenses Disclosure [Text Block]

NOTE 8:- OTHER PAYABLES AND ACCRUED EXPENSES

	December 31,
	2019		2018

Government authorities	$	564	$	253
Warranty provision		1,433		1,909
Provision for returns		721		570
Professional services		565		412
Payment obligation related to acquisition		-		303
Accrued expenses		3,090		1,546

	$	6,373	$	4,993

Commitments and Contingent Liabilities

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

NOTE 9:- COMMITMENTS AND CONTINGENT LIABILITIES

Charges:

As of December 31, 2019, the Company has two lines of credit with Israeli banks for total borrowings of up to $3 million. These lines of credit are unsecured and available provided that the Company maintains a 30% ratio of total tangible shareholders’ equity to total tangible assets and that the total credit use will be less than 70% of the Company and its subsidiaries’ receivables. Interest rates across these credit lines varied from 0.2% to Prime (Israel Interbank Offered Rate) +0.7% (current 2.3%) as of December 31, 2019.

As of December 31, 2019, the Company has not utilized its line of credits.

Purchase commitments:

As of December 31, 2019, the Company has $26,367 of purchase commitments for goods and services from vendors. These commitments are due primarily within one year.

Litigation:

From time to time, the Company is party to various legal proceedings, claims and litigation that arise in the normal course of business. It is the opinion of management that the ultimate outcome of these matters will not have a material adverse effect on the Company’s financial position, results of operations or cash flows.

Royalty Commitments:

Under the Company’s agreement for purchasing print heads and other products, which was amended in 2016, the Company is obligated to pay 2.5% royalties of its annual ink revenues up to an annual maximum amount of $625.

Royalties expenses for the years ended December 31, 2019, 2018 and 2017 were $625.

Guarantees:

As of December 31, 2019, the Company provided two bank guarantees in a total amount of $400 for its rented facilities.

Shareholders' Equity

12 Months Ended

Dec. 31, 2019

Stockholders' Equity Note Disclosure [Text Block]

NOTE 10:- SHAREHOLDERS’ EQUITY

Company’s shares:

Ordinary shares:

Any ordinary share confers equal rights to dividends and bonus shares, and to participate in the distribution of surplus assets upon liquidation in proportion to the par value of each share regardless of any premium paid thereon, all subject to the provisions of the Company’s articles of association. Each ordinary share confers its holder the right to participate in the general meeting of the Company and one vote in the voting.

On December 7, 2018, the Company made an underwritten secondary offering of 3,132,481 ordinary shares, by the Company’s major shareholder. The Company did not receive any of the proceeds from the sale of these ordinary shares.

On June 18, 2019, the Company closed a follow on and secondary offering where by 4,991,000 ordinary shares were sold in the transaction to the public. The aggregate net proceeds received by the Company from the offering were $129,710, net of underwriting discounts, commissions and offering expenses.

Share option and RSU’s plans:

The Company’s Board of Directors approved Equity Incentive Plans pursuant to which the Company is authorized to issue to employees, directors and officers of the Company and its subsidiaries (the “optionees”) options to purchase ordinary shares of NIS 0.01 par value each, at an exercise price equal to at least the fair market value of the ordinary shares at the date of grant. 25% of total options are exercisable one year after the date determined for each optionee and a further 6.25% at the end of each subsequent three-month period for 3 years. Options are exercisable for up to 10 years from the grant date of the options. Options that are cancelled or forfeited before expiration become available for future grants.

Under the Equity Incentive Plans and starting 2017, the Company grants Restricted Stock Units (“RSUs”). The RSU’s generally vest over a period of four years of employment. RSUs that are cancelled or forfeited become available for future grants.

During December 2019, the board of directors approved an increase in the ordinary shares reserved for issuance by 1,220,439 ordinary shares. As of December 31, 2019, an aggregate of 3,269,482 ordinary shares were available for future grants.

A summary of the Company’s share option activity and related information is as follows:

	Number of shares upon exercise			Weighted average exercise price		Weighted- average remaining contractual term (in years)		Aggregate intrinsic value

Outstanding at beginning of year		1,583,564		$	14.71		8.19	$	6,536
Granted		135,701			27.55		9.45
Exercised		(472,980	)		12.48
Forfeited		(173,508	)		16.40

Outstanding at end of year		1,072,777		$	17.17		7.73	$	18,170

Exercisable at end of year		455,735		$	14.03		6.88	$	9,152

As of December 31, 2019, the Company had $5,677 of unrecognized compensation expense related to non-vested share options expected to be recognized over a weighted average period of 2.58 years.

The weighted average fair value of options granted during the years ended December 31, 2019, 2018 and 2017 were $14.51, $9.5 and $9.24 per share, respectively. The weighted average fair value of options vested during the year ended December 31, 2019 was $8.13. The total intrinsic value of options exercised during the years ended December 31, 2019, 2018 and 2017 were $6,742, $11,775 and 10,588, respectively.

The options outstanding as of December 31, 2019, have been classified by exercise price, as follows:

	Options outstanding at December 31, 2019						Options exercisable at December 31, 2019
Exercise price	Number outstanding		Weighted average exercise price		Weighted average remaining contractual term (in years)		Number outstanding		Weighted average exercise price		Weighted average remaining contractual term (in years)
$			$		In years				$		In years

2.07		37,490		2.07		4.87		37,490		2.07		4.87
9.38-9.97		62,751		9.97		4.83		62,751		9.97		4.83
10.05-11.90		141,548		10.31		6.59		71,389		10.16		6.56
12.97-15.80		129,542		15.26		7.01		88,210		15.01		6.61
16.15-18.05		199,547		17.97		7.64		79,613		17.97		15.37
18.80-19.05		345,611		18.81		8.57		109,822		18.82		8.53
21.15-28.15		156,288		26.86		9.45		6,460		22.16		8.59

		1,072,777						455,735

A summary of the Company’s RSUs activity is as follows:

	Number of RSUs

Unvested at beginning of year		414,420
Granted		489,645
Vested		(155,160	)
Forfeited		(70,602	)
Unvested at the end of the year		678,303

The weighted average fair values at grant date of RSUs granted for the years ended December 31, 2019, 2018 and 2017 were $28.50, $17.1 and $17.77, respectively. The total fair value of shares vested during the year ended December 31, 2019 was $2,681.

As of December 31, 2019, the Company had 14,420 of unrecognized compensation expense related to RSUs, expected to be recognized over a weighted average period of 3.24 years.

The following table sets forth the total share-based compensation expense included in the consolidated statements of operations for the years ended December 31, 2019, 2018 and 2017:

	Year ended December 31,
	2019		2018		2017

Cost of products	$	632	$	494	$	419
Cost of services		520		398		210
Research and development		1,294		1,022		775
Sales and marketing		1,689		1,240		920
General and administrative		2,479		2,392		2,087

Total share-based compensation expense	$	6,614	$	5,546	$	4,411

On January 10, 2017, the Company signed a master purchase agreement with Amazon Inc. under which 2,932,176 warrants to purchase ordinary shares of the Company at an exercise price of $13.04 were issued to Amazon as a customer incentive. The warrants are subject to vesting as a function of payments for purchased products and services of up to $150 million over a five years period beginning on May 1, 2016, with the shares vesting incrementally each time Amazon makes a payment totaling $5 million to the Company. As of December 31, 2019, 1,612,683 warrants are exercisable.

The Company recognized a reduction to revenues of $5,094, $4,576 and $2,895 during the years ended December 31, 2019, 2018 and 2017, respectively.

Earnings (Losses) Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 11:- EARNINGS (LOSSES) PER SHARE

The following table sets forth the computation of basic and diluted earnings (losses) per share:

	Year ended December 31,
	2019		2018		2017
Numerator for basic and diluted earnings (losses) per share:

Net income (loss)	$	10,167	$	12,429	$	(2,015	)

Weighted average ordinary shares outstanding:

Denominator for basic earnings (losses) per share		38,079,394		34,521,352		33,574,147
Effect of dilutive securities:
Employee share options and restricted share units		1,214,721		842,352		-

Denominator for diluted earnings (losses) per share		39,294,115		35,363,704		33,574,147

Basic earnings (losses) per share	$	0.27	$	0.36	$	(0.06	)

Diluted earnings (losses) per share	$	0.26	$	0.35	$	(0.06	)

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2019

Comprehensive Income (Loss) Note [Text Block]

NOTE 12:- ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table summarizes the changes in accumulated balances of other comprehensive income (loss), net of taxes, for the year ended December 31, 2019:

	Unrealized Gains (losses) on marketable securities			Unrealized Gains (losses) on cash flow hedges			Foreign currency translation adjustment		Total

Beginning balance	$	(437	)	$	(93	)	$	292	$	(238	)
Other comprehensive income before reclassifications		1,160			132			90		1,382
Amounts reclassified from accumulated other comprehensive income		(271	)		(30	)		-		(301	)

Net current period other comprehensive income		889			102			90		1,081

Ending Balance	$	452		$	9		$	382	$	843

Leases

12 Months Ended

Dec. 31, 2019

Disclosure Text Block [Abstract]

Leases of Lessee Disclosure [Text Block]

NOTE 13:- LEASES

The components of lease expense for the year ended December 31, 2019 were as follows:

	Year ended
	December 31, 2019

Operating lease	$	3,857
Short-term lease		131
Total lease expense	$	3,988

Cash paid for amounts included in the measurement of operating lease liabilities was $3,910 during the year ended December 31, 2019.

The Company’s operating lease agreements have remaining lease terms ranging from 1 year to 11 years, including agreements with options to extend the leases for up to 5 years.

The following table represents the weighted-average remaining lease term and discount rate:

	Year ended
	December 31, 2019

Weighted average remaining lease term		9.3 years

Weighted average discount rate		3.1	%

The discount rate was determined based on the estimated collateralized borrowing rate of the Company, adjusted to the specific lease term and location of each lease.

Maturities of operating lease liabilities were as follows:

	Year ended
	December 31, 2019

2020	$	4,341
2021		3,750
2022		2,938
2023		2,284
2024 and after		13,003
Total operating lease payments	$	26,316
Less: imputed interest		3,183
Present value of lease liabilities	$	23,133

Taxes on Income

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

NOTE 14:- TAXES ON INCOME

Tax rates:

Taxable income of the Israeli companies is subject to the Israeli corporate tax at the rate as follows: 2019 and 2018: 23%, and 2017: 24%.

Tax benefits under the Law for the Encouragement of Capital Investments, 1959 (the “Law”):

The Company’s production facilities in Israel have been granted “Beneficiary Enterprise” status under the Law. The Israeli companies have been granted the “Alternative Benefit Track” under which the main benefits are a tax exemption for undistributed income and a reduced tax rate.

The Israeli companies began to utilize such tax benefits in 2010. The entitlement to the above benefits is limited to the end of 2019, and it is conditional upon the Company and its Israeli subsidiary fulfilling the conditions stipulated by the Law and regulations published. In the event of failure to comply with these conditions, the benefits may be partially or fully canceled and the Company or its Israeli subsidiary may be required to refund the amount of the benefits, in whole or in part, plus a consumer price index linkage adjustment and including interest.

In the event of distribution of dividends from the above-mentioned tax-exempt income, the amount distributed will be subject to the same reduced corporate tax rate that would have been applied to the Beneficiary Enterprise’s income.

In addition, tax-exempt income attributed to the Beneficiary Enterprise will subject the Company to taxes upon distribution in any manner including complete liquidation.

The Company does not intend to distribute any amounts of its undistributed tax-exempt income as dividend. The Company and its board of directors intend to reinvest its tax-exempt income and not to distribute such income as a dividend. Accordingly, no deferred income taxes have been provided on income attributable to the Company’s Beneficiary Enterprise programs as the undistributed tax-exempt income is essentially permanent by reinvestment.

As of December 31, 2019, tax-exempt income of $131,222 is attributable to the Company’s and its Israeli subsidiary’s various Beneficiary Enterprise programs. If such tax-exempt income is distributed, it would be taxed at the reduced corporate tax rate applicable to such income, and $30,181 would be incurred as of December 31, 2019.

The Israeli subsidiary elected to apply the Preferred Enterprise regime under the January 2011 amendment to the Law as of 2013 tax year. The election is irrevocable. Under the Preferred Enterprise regime, a preferred income of an Enterprise located in the center of Israel is subject to tax rate of 16%.

Pursuant to Amendment 73 to the Law adopted in 2017, a Company that meets the conditions for “Preferred Technological Enterprises”, is subject to tax rate of 12% on income that qualifies as “Preferred Technology Income”, as define in the Law. The tax rate for a Preferred Technological Enterprises located in development zone A is 7.5%. The Company and its Israeli subsidiary believe they meets those conditions.

Tax benefits under the Israeli Law for the Encouragement of Industry (Taxation), 1969:

The Israeli companies are an “Industrial Company” as defined by the Israeli Law for the Encouragement of Industry (Taxation), 1969, and, as such, are entitled to certain tax benefits including accelerated depreciation, deduction of public offering expenses in three equal annual installments and amortization of other intangible property rights for tax purposes.

Income taxes of non-Israeli subsidiaries:

Non-Israeli subsidiaries are taxed according to the tax laws in their respective countries of residence.

Taxes were not provided for undistributed earnings of the Company’s foreign subsidiaries. The Company’s board of directors has determined that the Company does not currently intend to distribute any amounts of its undistributed earnings as dividend. The Company intends to reinvest these earnings indefinitely in the foreign subsidiaries. Accordingly, no deferred income taxes have been provided. If these earnings were distributed to Israel in the form of dividends or otherwise, the Company would be subject to additional Israeli income taxes (subject to an adjustment for foreign tax credits) and foreign withholding taxes.

The amount of undistributed earnings of foreign subsidiaries that are considered to be reinvested as of December 31, 2019 was $9,874. If these undistributed earnings are distributed, they would be taxed at the corporate tax rate applicable to such income, and $821 would be incurred as of December 31, 2019.

Tax Reform in the U.S:

On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act (the “Act”), which among other provisions, reduced the U.S. corporate tax rate from 35% to 21%, effective January 1, 2018.

At December 31, 2017, the Company re-measured its U.S. deferred tax assets and liabilities, based on the new rates at which they are expected to reverse in the future. The tax expense recorded in 2017, related to the re-measurement of the deferred tax balance was $355.

Tax assessments:

The Company and its Israeli subsidiary are currently subject to a tax audit for the years 2013 to 2016 by the Israeli Tax Authority (‘ITA”). The company received an assessment for years 2013 and 2014 which is still subject to another review by the ITA before it is finalized. The company appealed before the second review and it believes the claims and the position taken on its tax returns are solid and valid. The ITA may furthermore disagree with the Company and its Israeli subsidiary positions taken for other years as well, and the Company may be subject to additional tax liabilities, which could have a material adverse effect on its results of operations.

The Company and its Israeli subsidiary received final tax assessments through 2012. The U.S and German subsidiaries received final tax assessment through 2012 and 2014 and the Hong Kong Subsidiary have not received a final tax assessment since inception.

Carryforward losses for tax purposes:

Carryforward operating tax losses of the Company and its Israeli subsidiary total approximately $63,660 as of December 31, 2019 and may be used indefinitely.

Deferred income taxes:

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s and its subsidiaries’ deferred tax liabilities and assets are as follows:

	December 31,
	2019			2018

Carryforward tax losses	$	3,282		$	3,538
Share-based compensation		1,569			976
R&D expenses		1,468			1,414
Other temporary differences		1,471			1,354

Deferred tax assets		7,790			7,282

Deferred tax liability due to property, plant and equipment		(9	)		(10	)

Deferred tax assets, net	$	7,781		$	7,272

The Company records net deferred tax assets to the extent it believes these assets will more likely than not be realized. As of each reporting date, management considers new evidence, both positive and negative, that could impact management’s view with regards to the future realization of deferred tax assets for each jurisdiction.

Income (loss) before income taxes is comprised as follows:

	Year ended December 31,
	2019		2018		2017

Domestic	$	7,343	$	4,458	$	(3,328	)
Foreign		3,568		2,579		1,697

Income (loss) before income taxes	$	10,911	$	7,037	$	(1,631	)

Taxes on income (tax benefits) are comprised as follows:

	Year ended December 31,
	2019			2018			2017

Current taxes	$	677		$	1,088		$	509
Deferred taxes		67			(6,480	)		(125	)

	$	744		$	(5,392	)	$	384

Domestic	$	(337	)	$	(6,050	)	$	(594	)
Foreign		1,081			658			978

	$	744		$	(5,392	)	$	384

	Year ended December 31,
	2019			2018			2017
Domestic taxes:

Current taxes	$	(208	)	$	333		$	(594	)
Deferred taxes		(129	)		(6,383	)		-

		(337	)		(6,050	)		(594	)

Foreign taxes:

Current taxes		885			755			1,103
Deferred taxes		196			(97	)		(125	)

		1,081			658			978

Taxes on income	$	744		$	(5,392	)	$	384

Uncertain tax positions:

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:

	December 31,
	2019		2018

Beginning of year	$	2,240	$	1,521
Increases related to tax positions taken during prior years		51		452
Increases related to tax positions taken during the current year		662		313
Cumulative translation adjustments and other		86		(46	)

Balance at December 31 *)	$	3,039	$	2,240

*) As of December 31, 2019, and 2018 unrecognized tax benefit in the amount of $1,880 and $1,218 were presented as a reduction from deferred taxes.

The entire amount of the unrecognized tax benefits could affect the Company’s income tax provision and the effective tax rate.

During the years ended December 31, 2019, 2018 and 2017, an amount of $51, $115 and $54, respectively, was added to the unrecognized tax benefits derived from interest and indexation expenses related to prior years’ uncertain tax positions. As of December 31, 2019, and 2018, the Company had accrued interest related to uncertain tax positions in the amounts of $237 and $171, which is included within income tax accrual on the balance sheets.

Exchange rate differences are recorded within financial income, net, while interest is recorded within income tax expense.

The Company believes that it has adequately provided for any reasonably foreseeable outcome related to tax audits and settlement. The final tax outcome of its tax audits could be different from that which is reflected in the Company’s income tax provisions and accruals. Such differences could have a material effect on the Company’s income tax provision and net income in the period in which such determination is made.

A reconciliation between the theoretical tax expense, assuming all income is taxed at the statutory tax rate applicable to income of the Company and the actual tax expense as reported in the statement of operations is as follows:

	Year ended December 31,
	2019			2018			2017

Income (loss) before taxes, as reported in the consolidated statements of operations	$	10,911		$	7,037		$	(1,631	)

Theoretical tax expense (benefit) at the Israeli statutory tax rate		2,510			1,618			(392	)
Tax adjustment in respect of different tax rate of foreign subsidiaries		151			43			111
Non-deductible expenses and other permanent differences		77			64			143
Deferred taxes on losses and other temporary differences for which valuation allowance was provided, net		-			(5,503	)		1,899
Stock based compensation		1,247			1,161			996
Change in tax rate		-			-			355
Beneficiary enterprise benefits (*)		(3,935	)		(3,469	)		(2,360	)
Increase (Decrease) in other uncertain tax positions		713			765			(376	)
Other		(19	)		(71	)		8

Actual tax expense (benefit)	$	744		$	(5,392	)	$	384

(*) Basic and diluted earnings per share amounts of the benefit resulting from the “Beneficiary Enterprise” status		0.10			0.10			0.07

Geographic Information

12 Months Ended

Dec. 31, 2019

Geographic Area Disclosure [Abstract]

Geographic Area Disclosure [Text Block]

NOTE 15:- GEOGRAPHIC INFORMATION

Summary information about geographic areas:

The Company operates in one reportable segment (see note 1 for a brief description of the Company’s business). Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by the chief operating decision maker, who is the chief executive officer, in deciding how to allocate resources and assessing performance. The Company’s chief operating decision maker evaluates the Company’s financial information and resources and assesses the performance of these resources on a consolidated basis.

The following table presents long-lived assets by geographic region as of December 31, 2019 and 2018:

	December 31,
	2019		2018

U.S	$	1,782	$	1,839
Israel		15,253		12,581
EMEA		258		328
Asia Pacific		196		246

	$	17,489	$	14,994

Major customers’ data as a percentage of total revenues:

The following table sets forth the customers that represented 10% or more of the Company’s total revenues in each of the periods set forth below:

	Year ended December 31,
	2019			2018			2017

Customer A		0	%		15	%		18	%
Customer B		12	%		17	%		13	%

Selected Statements of Operations Data

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Statements [Text Block]

NOTE 16:- SELECTED STATEMENTS OF OPERATIONS DATA

Financial income, net:

	Year ended December 31,
	2019			2018			2017
Financial income:

Interest on bank deposits and other	$	2,535		$	406		$	69
Exchange rate differences, net		-			87			-
Realized gain on sale of marketable securities, net		271			-			34
Interest on marketable securities		1,975			2,107			1,896
Amortization of premium and accretion of discount on marketable securities, net		112			-			-

		4,893			2,600			1,999
Financial expenses:

Bank charges		(405	)		(299	)		(244	)
Exchange rate differences, net		(1,175	)		-			(757	)
Realized loss on sale of marketable securities, net		-			(480	)		-
Amortization of premium and accretion of discount on marketable securities, net		-			(388	)		(546	)

		(1,580	)		(1,167	)		(1,547	)

Total financial income:	$	3,313		$	1,433		$	452

Balances and Transactions with Related Parties

12 Months Ended

Dec. 31, 2019

NOTE 17:- BALANCES AND TRANSACTIONS WITH RELATED PARTIES

The Company’s policy is to enter into transactions with related parties on terms that, on the whole, are no less favorable, than those available from unaffiliated third parties. Based on the Company’s experience in the business sectors in which it operates and the terms of its transactions with unaffiliated third parties, the Company believes that all of the transactions described below met this policy at the time they occurred.

Fritz Companies Israel T. Ltd. (“Fritz”)

Fritz is a logistics company which is owned, in part, by the Chairman of the Board since March 2018. The Company has an ongoing logistic contract with Fritz. During the years ended December 31, 2019 and 2018 logistic service fees amounted to $3,762 and $2,673, respectively.

Accord Insurance Agency Ltd. (“Acord”)

We maintain a business relationship with Accord Insurance Agency Ltd., or Accord, a company which is an insurance agency that is owned in part and controlled, by our Chairman of the Board, under which Accord is our insurance agent for most of our insurance policies. The policies in which Accord is our insurance agent, were purchased after a request for proposals procedure. During the years ended December 31, 2019, 2018 and 2017 total premium under the policies amounted to $843, $248 and $248, respectively.

Priority Software Ltd. (“Priority”)

Priority is the Company’s ERP solution provider, which is owned, in part by few of the Company’s Board members. During the years ended December 31, 2019, 2018 and 2017 maintenances fees and additional licenses acquired amounted to $109, $76 and $90, respectively.

Subsequent Event

12 Months Ended

Dec. 31, 2019

Subsequent Events [Abstract]

Subsequent Events [Text Block]

NOTE 18:- SUBSEQUENT EVENT

Towards the end of December 2019, an outbreak of a novel strain of coronavirus (COVID-19) emerged at first in China and then (in February and March 2020) globally. The Company's operations and financial performance could be adversely affected to the extent that coronavirus or any other epidemic harms the global economy. The Company may also be adversely impacted in particular if a health epidemic or other outbreak occurs in one or more of the Company's markets and unfavorably affects certain of its customers and/or suppliers. Further, the Company's operations have experienced, and may further experience, disruptions, such as temporary closure of its offices or manufacturing facility, and/or those of its customers or suppliers, and suspension of services, which will materially affect the Company's business, financial condition and results of operations. The duration of the business disruption and related financial impact cannot be reasonably estimated at this time.

Accounting Policies, by Policy (Policies)

12 Months Ended

Dec. 31, 2019

Financial statements in United States dollars:

Use of estimates:

Principles of consolidation:

Cash equivalents:

Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three months or less, at acquisition.

Short-term bank deposits:

Short-term bank deposits are deposits with an original maturity of more than three months but less than one year from the date of acquisition.

Marketable securities:

Inventories:

Cost of inventories is determined as follows:

Raw materials and components - on the basis of weighted average cost.

Finished products - on the basis of average costs of materials, and other direct manufacturing cost.

Inventory write offs have been provided to cover risks arising from slow-moving items, technological obsolescence and excess inventories according to revenue forecasts.

During the years ended December 31, 2019, 2018 and 2017, the Company recorded inventory write offs in a total amount of $2,624, $1,759 and $2,988, respectively.

Property, plant and equipment:

	%
Office furniture and equipment		7 - 20
Computer and peripheral equipment		33
Machinery and equipment		7 - 33
Leasehold improvements		*)
Building and land		**)

**)

Business combinations:

Acquisition related costs are expensed to the statement of operations in the period incurred.

Goodwill and other Intangible assets:

Goodwill and other intangible assets:

During the years ended December 31, 2019, 2018 and 2017, no impairment of goodwill has been identified.

Impairment of long lived assets and intangible assets subject to amortization:

Impairment of long-lived assets and intangible assets subject to amortization:

During the years ended December 31, 2019, 2018 and 2017, no impairment losses were recorded

Revenue recognition:

In cases where the Company’s customers trade-in old systems as part of sales of new systems, the fair value of the old systems is recorded as inventory, provided that such value can be determined.

Revenue disaggregated by revenue source consists of the following:

	Year ended December 31,
	2019		2018		2017

Systems	$	91,353	$	65,825	$	50,498
Ink and consumables		65,241		59,904		51,455
Spare parts		16,884		12,377		9,652
Service contracts		6,388		4,267		2,483

Total revenue	$	179,866	$	142,373	$	114,088

The following table presents revenue disaggregated by geography based on customer location:

	Year ended December 31,
	2019		2018		2017

U.S	$	100,457	$	77,652	$	60,541
EMEA		48,810		45,195		32,015
Asia Pacific		22,101		15,572		16,092
Other		8,498		3,954		5,440

Total revenue	$	179,866	$	142,373	$	114,088

		2020				2021				2022 and thereafter
Services		$	5,219			$	483			$	17

Shipping and Handling:

Cost of revenues:

Warranty costs:

The followings are the changes in the liability for product warranty from January 1, 2018 to December 31, 2019:

Balance at January 1, 2018	$	1,777
Provision for warranties issued during the year		3,381
Reduction for payments and costs to satisfy claims		(2,921	)

Balance at December 31, 2018		2,237

Provision for warranties issued during the year		2,977
Reduction for payments and costs to satisfy claims		(3,600	)

Balance at December 31, 2019	$	1,614

Research and development expenses:

Research and development expenses are charged to the statement of operations, as incurred, except for development expenses which are capitalized as described in note 2q.

Internal use software:

Restructuring:

Accounting for share-based compensation:

	Year ended December 31,
	2019			2018			2017

Suboptimal exercise multiple		1.0-1.5			1.0-1.5			1.0-1.5
Risk free interest rate		1.5%-2.7	%		2.0%-3.1	%		2.2%-2.3	%
Volatility		47%-48	%		47%-51	%		51%-53	%
Dividend yield		0	%		0	%		0	%

The fair value of each restricted stock unit (“RSU”) is the market value as determined by the closing price of the common share prior to the day of grant.

Derivatives and hedging:

Derivative instruments notional amounts

The following table summarizes the notional amounts for hedged items, when transactions are designated as hedge accounting:

	December 31,		December 31,
	2019		2018

Cash flow hedge	$	6,399	$	10,581

Derivative instrument outstanding

Derivative instrument gains and losses

The maximum length of time over which the Company is hedging its exposure to the variability in future cash flows for forecasted transactions is less than 12 months.

Advertising:

Advertising costs are charged to operations as incurred and were $1,981, $1,077 and $612 for the years ended December 31, 2019, 2018 and 2017, respectively

Income taxes:

Concentrations of credit risks:

Severance pay:

Severance expenses for the years ended December 31, 2019, 2018 and 2017 were $1,808, $1,483 and $1,394 respectively.

Fair value of financial instruments:

The hierarchy is broken down into three levels based on the inputs as follows:

	Level 1 -	Valuations based on quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company can access at the measurement date.

	Level 2 -	Valuations based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.

	Level 3 -	Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

Comprehensive income:

Basic and diluted earnings per share:

aa.

Basic and diluted earnings per share:

Recently adopted accounting standard:

bb.

Recently adopted accounting standard:

See note 10g for additional disclosures.

The Company recorded upon adoption as of January 1, 2019, right-of-use leased assets and corresponding liabilities of $14,905.

See note 13 for additional disclosures.

See note 2t for additional disclosures.

Impact of recently issued accounting standard and not yet adopted:

cc.

Impact of recently issued accounting standard and not yet adopted:

Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

ScheduleOfPropertyAndEquipmentForUsefulLifeTableTextBlock

	%
Office furniture and equipment		7 - 20
Computer and peripheral equipment		33
Machinery and equipment		7 - 33
Leasehold improvements		*)
Building and land		**)

**)

Disaggregation of Revenue [Table Text Block]

	Year ended December 31,
	2019		2018		2017

Systems	$	91,353	$	65,825	$	50,498
Ink and consumables		65,241		59,904		51,455
Spare parts		16,884		12,377		9,652
Service contracts		6,388		4,267		2,483

Total revenue	$	179,866	$	142,373	$	114,088

Revenue from External Customers by Geographic Areas [Table Text Block]

	Year ended December 31,
	2019		2018		2017

U.S	$	100,457	$	77,652	$	60,541
EMEA		48,810		45,195		32,015
Asia Pacific		22,101		15,572		16,092
Other		8,498		3,954		5,440

Total revenue	$	179,866	$	142,373	$	114,088

Revenue from External Customers by Products and Services [Table Text Block]

		2020				2021				2022 and thereafter
Services		$	5,219			$	483			$	17

Schedule of Product Warranty Liability [Table Text Block]

Balance at January 1, 2018	$	1,777
Provision for warranties issued during the year		3,381
Reduction for payments and costs to satisfy claims		(2,921	)

Balance at December 31, 2018		2,237

Provision for warranties issued during the year		2,977
Reduction for payments and costs to satisfy claims		(3,600	)

Balance at December 31, 2019	$	1,614

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

	Year ended December 31,
	2019			2018			2017

Suboptimal exercise multiple		1.0-1.5			1.0-1.5			1.0-1.5
Risk free interest rate		1.5%-2.7	%		2.0%-3.1	%		2.2%-2.3	%
Volatility		47%-48	%		47%-51	%		51%-53	%
Dividend yield		0	%		0	%		0	%

Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

	December 31,		December 31,
	2019		2018

Cash flow hedge	$	6,399	$	10,581

Acquisition (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

	Fair Value		Amortization period (years)
Tangible Assets
Inventory	$	3,353

Intangible Assets:
Customer Relationships (*)	$	890		5.9
Goodwill		472		Infinite

Total purchase price	$	4,715

(*)

Customer relationships represent the underlying relationships and agreements with Hirsch’s installed customer base and are amortized over the useful life of the agreements using accelerated method.

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Marketable Securities [Table Text Block]

	December 31, 2019
	Amortized cost		Gross unrealized gain		Gross unrealized loss			Fair value

Matures within one year:
Corporate debentures	$	27,624	$	24	$	(11	)	$	27,637
Government debentures		4,930		-		-			4,930
		32,554		24		(11	)		32,567

Matures after one year through three years:
Corporate debentures		91,887		575		(117	)		92,345
Government debentures		3,030		21		(3	)		3,048
		94,917		596		(120	)		95,393

Total	$	127,471	$	620	$	(131	)	$	127,960

	December 31, 2018
	Amortized cost		Gross unrealized gain		Gross unrealized loss			Fair value

Matures within one year:
Corporate debentures	$	3,999	$	-	$	(18	)	$	3,981
		3,999		-		(18	)		3,981

Matures after one year through three years:
Corporate debentures		33,698		29		(346	)		33,381
Government debentures		11,360		-		(138	)		11,222
		45,058		29		(484	)		44,603

Total	$	49,057	$	29	$	(502	)	$	48,584

Schedule of Unrealized Loss on Investments [Table Text Block]

	December 31, 2019
	Less than 12 months					12 months or greater					Total
	Fair value		Unrealized Losses			Fair value		Unrealized Losses			Fair value		Unrealized Losses

Corporate debentures	$	57,753	$	(127	)	$	3,801	$	(1	)	$	61,554	$	(128	)
Government debentures		2,552		(3	)		-		-			2,552		(3	)

Total	$	60,305	$	(130	)	$	3,801	$	(1	)	$	64,106	$	(131	)

	December 31, 2018
	Less than 12 months					12 months or greater					Total
	Fair value		Unrealized Losses			Fair value		Unrealized Losses			Fair value		Unrealized Losses

Corporate debentures	$	12,017	$	(126	)	$	16,547	$	(238	)	$	28,564	$	(364	)
Government debentures		8,864		(117	)		2,357		(21	)		11,221		(138	)

Total	$	20,881	$	(243	)	$	18,904	$	(259	)	$	39,785	$	(502	)

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]

	December 31, 2019
	Level 1		Level 2		Level 3		Total
Assets:
Marketable securities	$	-	$	127,960	$	-	$	127,960
Foreign currency derivative contracts		-		16		-		16

Total financial assets	$	-	$	127,976	$	-	$	127,976

	December 31, 2018
	Level 1		Level 2		Level 3		Total
Assets:
Marketable securities	$	-	$	48,584	$	-	$	48,584

Total financial assets	$	-	$	48,584	$	-	$	48,584

Liabilities:
Foreign currency derivative contracts	$	-	$	111	$	-	$	111

Total financial liabilities	$	-	$	111	$	-	$	111

Inventories (Tables)

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

	December 31,
	2019		2018

Raw materials and components	$	21,402	$	17,425
Finished products (*)		16,075		12,605

	$	37,477	$	30,030

(*)

Including amounts of $0 and $836 for the years ended December 31, 2019 and 2018, respectively, with respect to inventory delivered to customers for which revenue was not yet recognized.

Property, Plant and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

	December 31,
	2019			2018
Cost:

Computer and peripheral equipment	$	3,748		$	3,182
Office furniture and equipment		1,818			1,757
Machinery and equipment		13,823			12,230
Leasehold improvements		8,337			8,505
Building and land		6,524			3,343

		34,250			29,017

Accumulated depreciation		(16,761	)		(14,023	)

Property, plant and equipment, net	$	17,489		$	14,994

Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	Weighted average amortization period	December 31,
	Years	2019		2018
Original amount:
Acquired technology	8.14	$	1,566	$	1,566
Customer relationships	5.23		3,504		2,614
Non-competition agreement	4		265		265
Software development costs	3		1,199		-
Distribution rights	1		250		-

		$	6,784	$	4,445
Accumulated amortization:
Acquired technology			1,066		966
Customer relationships			2,849		2,302
Non-competition agreement			232		166
Software development costs			-		-
Distribution rights			143		-

			4,290		3,434

Intangible assets, net		$	2,494	$	1,011

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

December 31,

2020	$	828
2021		697
2022		608
2023		208
2024 and thereafter		153

	$	2,494

Other Payables and Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2019

Other Payable and Accrued Expenses Disclosure [Abstract]

Schedule of Other Payable and Accrued Expenses Table Text Block

	December 31,
	2019		2018

Government authorities	$	564	$	253
Warranty provision		1,433		1,909
Provision for returns		721		570
Professional services		565		412
Payment obligation related to acquisition		-		303
Accrued expenses		3,090		1,546

	$	6,373	$	4,993

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement, Option, Activity [Table Text Block]

	Number of shares upon exercise			Weighted average exercise price		Weighted- average remaining contractual term (in years)		Aggregate intrinsic value

Outstanding at beginning of year		1,583,564		$	14.71		8.19	$	6,536
Granted		135,701			27.55		9.45
Exercised		(472,980	)		12.48
Forfeited		(173,508	)		16.40

Outstanding at end of year		1,072,777		$	17.17		7.73	$	18,170

Exercisable at end of year		455,735		$	14.03		6.88	$	9,152

Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block]

	Options outstanding at December 31, 2019						Options exercisable at December 31, 2019
Exercise price	Number outstanding		Weighted average exercise price		Weighted average remaining contractual term (in years)		Number outstanding		Weighted average exercise price		Weighted average remaining contractual term (in years)
$			$		In years				$		In years

2.07		37,490		2.07		4.87		37,490		2.07		4.87
9.38-9.97		62,751		9.97		4.83		62,751		9.97		4.83
10.05-11.90		141,548		10.31		6.59		71,389		10.16		6.56
12.97-15.80		129,542		15.26		7.01		88,210		15.01		6.61
16.15-18.05		199,547		17.97		7.64		79,613		17.97		15.37
18.80-19.05		345,611		18.81		8.57		109,822		18.82		8.53
21.15-28.15		156,288		26.86		9.45		6,460		22.16		8.59

		1,072,777						455,735

Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]

	Number of RSUs

Unvested at beginning of year		414,420
Granted		489,645
Vested		(155,160	)
Forfeited		(70,602	)
Unvested at the end of the year		678,303

Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]

	Year ended December 31,
	2019		2018		2017

Cost of products	$	632	$	494	$	419
Cost of services		520		398		210
Research and development		1,294		1,022		775
Sales and marketing		1,689		1,240		920
General and administrative		2,479		2,392		2,087

Total share-based compensation expense	$	6,614	$	5,546	$	4,411

Earnings (Losses) Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Year ended December 31,
	2019		2018		2017
Numerator for basic and diluted earnings (losses) per share:

Net income (loss)	$	10,167	$	12,429	$	(2,015	)

Weighted average ordinary shares outstanding:

Denominator for basic earnings (losses) per share		38,079,394		34,521,352		33,574,147
Effect of dilutive securities:
Employee share options and restricted share units		1,214,721		842,352		-

Denominator for diluted earnings (losses) per share		39,294,115		35,363,704		33,574,147

Basic earnings (losses) per share	$	0.27	$	0.36	$	(0.06	)

Diluted earnings (losses) per share	$	0.26	$	0.35	$	(0.06	)

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

	Unrealized Gains (losses) on marketable securities			Unrealized Gains (losses) on cash flow hedges			Foreign currency translation adjustment		Total

Beginning balance	$	(437	)	$	(93	)	$	292	$	(238	)
Other comprehensive income before reclassifications		1,160			132			90		1,382
Amounts reclassified from accumulated other comprehensive income		(271	)		(30	)		-		(301	)

Net current period other comprehensive income		889			102			90		1,081

Ending Balance	$	452		$	9		$	382	$	843

Leases (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Text Block [Abstract]

Lease, Cost [Table Text Block]

	Year ended
	December 31, 2019

Operating lease	$	3,857
Short-term lease		131
Total lease expense	$	3,988

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

	Year ended
	December 31, 2019

Weighted average remaining lease term		9.3 years

Weighted average discount rate		3.1	%

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

	Year ended
	December 31, 2019

2020	$	4,341
2021		3,750
2022		2,938
2023		2,284
2024 and after		13,003
Total operating lease payments	$	26,316
Less: imputed interest		3,183
Present value of lease liabilities	$	23,133

Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	December 31,
	2019			2018

Carryforward tax losses	$	3,282		$	3,538
Share-based compensation		1,569			976
R&D expenses		1,468			1,414
Other temporary differences		1,471			1,354

Deferred tax assets		7,790			7,282

Deferred tax liability due to property, plant and equipment		(9	)		(10	)

Deferred tax assets, net	$	7,781		$	7,272

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

	Year ended December 31,
	2019		2018		2017

Domestic	$	7,343	$	4,458	$	(3,328	)
Foreign		3,568		2,579		1,697

Income (loss) before income taxes	$	10,911	$	7,037	$	(1,631	)

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Year ended December 31,
	2019			2018			2017

Current taxes	$	677		$	1,088		$	509
Deferred taxes		67			(6,480	)		(125	)

	$	744		$	(5,392	)	$	384

Domestic	$	(337	)	$	(6,050	)	$	(594	)
Foreign		1,081			658			978

	$	744		$	(5,392	)	$	384

Schedule of taxes on income of domestic taxes [Table Text Block]

	Year ended December 31,
	2019			2018			2017
Domestic taxes:

Current taxes	$	(208	)	$	333		$	(594	)
Deferred taxes		(129	)		(6,383	)		-

		(337	)		(6,050	)		(594	)

Foreign taxes:

Current taxes		885			755			1,103
Deferred taxes		196			(97	)		(125	)

		1,081			658			978

Taxes on income	$	744		$	(5,392	)	$	384

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	December 31,
	2019		2018

Beginning of year	$	2,240	$	1,521
Increases related to tax positions taken during prior years		51		452
Increases related to tax positions taken during the current year		662		313
Cumulative translation adjustments and other		86		(46	)

Balance at December 31 *)	$	3,039	$	2,240

*) As of December 31, 2019, and 2018 unrecognized tax benefit in the amount of $1,880 and $1,218 were presented as a reduction from deferred taxes.

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Year ended December 31,
	2019			2018			2017

Income (loss) before taxes, as reported in the consolidated statements of operations	$	10,911		$	7,037		$	(1,631	)

Theoretical tax expense (benefit) at the Israeli statutory tax rate		2,510			1,618			(392	)
Tax adjustment in respect of different tax rate of foreign subsidiaries		151			43			111
Non-deductible expenses and other permanent differences		77			64			143
Deferred taxes on losses and other temporary differences for which valuation allowance was provided, net		-			(5,503	)		1,899
Stock based compensation		1,247			1,161			996
Change in tax rate		-			-			355
Beneficiary enterprise benefits (*)		(3,935	)		(3,469	)		(2,360	)
Increase (Decrease) in other uncertain tax positions		713			765			(376	)
Other		(19	)		(71	)		8

Actual tax expense (benefit)	$	744		$	(5,392	)	$	384

(*) Basic and diluted earnings per share amounts of the benefit resulting from the “Beneficiary Enterprise” status		0.10			0.10			0.07

Geographic Information (Tables)

12 Months Ended

Dec. 31, 2019

Geographic Area Disclosure [Abstract]

Long-lived Assets by Geographic Areas [Table Text Block]

	December 31,
	2019		2018

U.S	$	1,782	$	1,839
Israel		15,253		12,581
EMEA		258		328
Asia Pacific		196		246

	$	17,489	$	14,994

Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]

	Year ended December 31,
	2019			2018			2017

Customer A		0	%		15	%		18	%
Customer B		12	%		17	%		13	%

Selected Statements of Operations Data (Tables)

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Statements [Table Text Block]

	Year ended December 31,
	2019			2018			2017
Financial income:

Interest on bank deposits and other	$	2,535		$	406		$	69
Exchange rate differences, net		-			87			-
Realized gain on sale of marketable securities, net		271			-			34
Interest on marketable securities		1,975			2,107			1,896
Amortization of premium and accretion of discount on marketable securities, net		112			-			-

		4,893			2,600			1,999
Financial expenses:

Bank charges		(405	)		(299	)		(244	)
Exchange rate differences, net		(1,175	)		-			(757	)
Realized loss on sale of marketable securities, net		-			(480	)		-
Amortization of premium and accretion of discount on marketable securities, net		-			(388	)		(546	)

		(1,580	)		(1,167	)		(1,547	)

Total financial income:	$	3,313		$	1,433		$	452

General (Details) $ in Thousands	1 Months Ended	12 Months Ended
General (Details) $ in Thousands	Jun. 18, 2019 USD ($) shares	Dec. 31, 2019 USD ($)	Dec. 31, 2017 USD ($)
General (Details) [Line Items]
Number of suppliers		4
Aggregate net proceeds received		$ 129,710	$ 35,077
Secondary offering [Member]
General (Details) [Line Items]
Sale of ordinary shares issued \| shares	4,991,000
Aggregate net proceeds received	$ 129,710

Significant Accounting Policies (Details) - USD ($)	12 Months Ended
Significant Accounting Policies (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Inventory write off	$ 2,624	$ 1,759	$ 2,988
Lease term	98 years
Provisions for estimated sales returns	$ 721	570
Contract Liabilities	2,867	3,931
Recognized revenues	1,560
Revenues from shipping	1,639	1,702	1,355
Fair value of outstanding forward and option	16	(111)
Pretax income (expenses)	16	(21)	18
Advertising costs	1,981	1,077	612
Bad debt expenses	$ 26	19	97
Monthly deposits rate	8.33%
Severance and garden leave pay expenses	$ 1,808	$ 1,483	$ 1,394
Anti-dilutive excluded from calculation of diluted net earnings per share (in Shares)	536,359	884,028
right-of-use leased assets and iabilities		$ 14,905

Significant Accounting Policies (Details) - Schedule of property and equipment on straight-line basis over useful life of assets

Dec. 31, 2019

Computer Equipment [Member]

Significant Accounting Policies (Details) - Schedule of property and equipment on straight-line basis over useful life of assets [Line Items]

Property and equipment useful life of assets at annual rates

33.00%

Leaseholds and Leasehold Improvements [Member]

Significant Accounting Policies (Details) - Schedule of property and equipment on straight-line basis over useful life of assets [Line Items]

Property and equipment useful life of assets at annual rates

^[1]

Building [Member]

Significant Accounting Policies (Details) - Schedule of property and equipment on straight-line basis over useful life of assets [Line Items]

Property and equipment useful life of assets at annual rates

^[2]

Minimum [Member] | Office Equipment [Member]

Significant Accounting Policies (Details) - Schedule of property and equipment on straight-line basis over useful life of assets [Line Items]

Property and equipment useful life of assets at annual rates

7.00%

Minimum [Member] | Machinery and Equipment [Member]

Significant Accounting Policies (Details) - Schedule of property and equipment on straight-line basis over useful life of assets [Line Items]

Property and equipment useful life of assets at annual rates

7.00%

Maximum [Member] | Office Equipment [Member]

Significant Accounting Policies (Details) - Schedule of property and equipment on straight-line basis over useful life of assets [Line Items]

Property and equipment useful life of assets at annual rates

20.00%

Maximum [Member] | Machinery and Equipment [Member]

Significant Accounting Policies (Details) - Schedule of property and equipment on straight-line basis over useful life of assets [Line Items]

Property and equipment useful life of assets at annual rates

33.00%

[1]	Leasehold improvements are amortized on a straight-line basis over the shorter of the lease term (including the extension option held by the Company and intended to be exercised) and the expected life of the improvement.
[2]	Building and land consist of land and a new ink manufacturing plant. In September 2018 the company purchased the land which includes long-term leasehold rights, with lease term of 98 years. As of December 31, 2018, the ink manufacturing plant in under construction. Depreciation of the manufacturing plant will begin upon completion of its construction.

Significant Accounting Policies (Details) - Schedule of disaggregated by revenue source - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Total revenue	$ 179,866	$ 142,373	$ 114,088
Systems [Member]
Disaggregation of Revenue [Line Items]
Total revenue	91,353	65,825	50,498
Ink and consumables [Member]
Disaggregation of Revenue [Line Items]
Total revenue	65,241	59,904	51,455
Spare parts [Member]
Disaggregation of Revenue [Line Items]
Total revenue	16,884	12,377	9,652
Service contracts [Member]
Disaggregation of Revenue [Line Items]
Total revenue	$ 6,388	$ 4,267	$ 2,483

Significant Accounting Policies (Details) - Schedule of revenue disaggregated by geography based on customer location - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Significant Accounting Policies (Details) - Schedule of revenue disaggregated by geography based on customer location [Line Items]
Long-lived assets	$ 179,866	$ 142,373	$ 114,088
US [Member]
Significant Accounting Policies (Details) - Schedule of revenue disaggregated by geography based on customer location [Line Items]
Long-lived assets	100,457	77,652	60,541
EMEA [Member]
Significant Accounting Policies (Details) - Schedule of revenue disaggregated by geography based on customer location [Line Items]
Long-lived assets	48,810	45,195	32,015
Asia Pacific [Member]
Significant Accounting Policies (Details) - Schedule of revenue disaggregated by geography based on customer location [Line Items]
Long-lived assets	22,101	15,572	16,092
Other [Member]
Significant Accounting Policies (Details) - Schedule of revenue disaggregated by geography based on customer location [Line Items]
Long-lived assets	$ 8,498	$ 3,954	$ 5,440

Significant Accounting Policies (Details) - Schedule of remaining performance obligations in future periods - Service [Member] $ in Thousands	Dec. 31, 2019 USD ($)
2020 [Member]
Revenue from External Customer [Line Items]
Total	$ 5,219
2021 [Member]
Revenue from External Customer [Line Items]
Total	483
2022 and thereafter [Member]
Revenue from External Customer [Line Items]
Total	$ 17

Significant Accounting Policies (Details) - Schedule of changes in liability for product warranty - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Schedule of changes in liability for product warranty [Abstract]
Balance	$ 2,237	$ 1,777
Provision for warranties issued during the year	2,977	3,381
Reduction for payments and costs to satisfy claims	(3,600)	(2,921)
Balance	$ 1,614	$ 2,237

Significant Accounting Policies (Details) - Schedule of fair value method for its stock options awards assumption - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%	0.00%	0.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Suboptimal exercise multiple (in Dollars per share)	$ 1.0	$ 1.0	$ 1.0
Risk free interest rate	1.50%	2.00%	2.20%
Volatility	47.00%	47.00%	51.00%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Suboptimal exercise multiple (in Dollars per share)	$ 1.5	$ 1.5	$ 1.5
Risk free interest rate	2.70%	3.10%	2.30%
Volatility	48.00%	51.00%	53.00%

Significant Accounting Policies (Details) - Schedule of derivative instruments notional amounts - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Schedule of derivative instruments notional amounts [Abstract]
Cash flow hedge	$ 6,399	$ 10,581

Acquisition (Details) $ in Thousands	Feb. 07, 2019 USD ($)
Business Combinations [Abstract]
Acquisition agreement consideration	$ 4,715
Acquisition-related costs	$ 85

Acquisition (Details) - Schedule of purchase price allocation for the acquisition has been determined
$ in Thousands

12 Months Ended

Dec. 31, 2019

USD ($)

Tangible Assets Inventory [Member]

$ 4,715

Intangible Assets Customer Relationships [Member]

3,353

Amortization period (years)

$ 890

^[1]

5.9

^[1]

Intangible Assets Goodwill [Member]

Amortization period (years)

$ 472

Infinite

[1]	Customer relationships represent the underlying relationships and agreements with Hirsch’s installed customer base and are amortized over the useful life of the agreements using accelerated method.

Fair Value Measurements (Details) - Schedule of available-for-sale marketable securities current - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Matures within one year:
Amortized cost	$ 127,471	$ 49,057
Gross unrealized gain	620	29
Gross unrealized loss	(131)	(502)
Fair value	127,960	48,584
Matures within one year: Corporate debentures [Member]
Matures within one year:
Amortized cost	27,624	3,999
Gross unrealized gain	24
Gross unrealized loss	(11)	(18)
Fair value	27,637	3,981
Matures within one year, Government debentures [Member]
Matures within one year:
Amortized cost	4,930
Fair value	4,930
Matures within one year [Member]
Matures within one year:
Amortized cost	32,554	3,999
Gross unrealized gain	24
Gross unrealized loss	(11)	(18)
Fair value	32,567	3,981
Matures after one year through three years: Corporate debentures [Member]
Matures within one year:
Amortized cost	91,887	33,698
Gross unrealized gain	575	29
Gross unrealized loss	(117)	(346)
Fair value	92,345	33,381
Matures after one year through three years: Government debentures [Member]
Matures within one year:
Amortized cost	3,030	11,360
Gross unrealized gain	21
Gross unrealized loss	(3)	(138)
Fair value	3,048	11,222
Matures after one year through three years [Member]
Matures within one year:
Amortized cost	94,917	45,058
Gross unrealized gain	596	29
Gross unrealized loss	(120)	(484)
Fair value	$ 95,393	$ 44,603

Fair Value Measurements (Details) - Schedule of investments unrealized losses - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value Measurements (Details) - Schedule of investments unrealized losses [Line Items]
Less than 12 months, Fair value	$ 60,305	$ 20,881
Less than 12 months, Unrealized Losses	(130)	(243)
12 months or greater, Fair value	3,801	18,904
12 months or greater, Unrealized Losses	(1)	(259)
Total, Fair value	64,106	39,785
Total, Unrealized Losses	(131)	(502)
Convertible Debt Securities [Member]
Fair Value Measurements (Details) - Schedule of investments unrealized losses [Line Items]
Less than 12 months, Fair value	57,753
Less than 12 months, Unrealized Losses	(127)
12 months or greater, Fair value	3,801
12 months or greater, Unrealized Losses	(1)
Total, Fair value	61,554
Total, Unrealized Losses	(128)
US Government Debt Securities [Member]
Fair Value Measurements (Details) - Schedule of investments unrealized losses [Line Items]
Less than 12 months, Fair value	2,552	8,864
Less than 12 months, Unrealized Losses	(3)	(117)
12 months or greater, Fair value		2,357
12 months or greater, Unrealized Losses		(21)
Total, Fair value	2,552	11,221
Total, Unrealized Losses	$ (3)	(138)
Corporate Debt Securities [Member]
Fair Value Measurements (Details) - Schedule of investments unrealized losses [Line Items]
Less than 12 months, Fair value		12,017
Less than 12 months, Unrealized Losses		(126)
12 months or greater, Fair value		16,547
12 months or greater, Unrealized Losses		(238)
Total, Fair value		28,564
Total, Unrealized Losses		$ (364)

Fair Value Measurements (Details) - Schedule of fair value measurement - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value Measurements (Details) - Schedule of fair value measurement [Line Items]
Marketable securities	$ 127,960	$ 48,584
Foreign currency derivative contracts	16
Total financial assets	127,976	48,584
Foreign currency derivative contracts		111
Total financial liabilities		111
Fair Value, Inputs, Level 1 [Member]
Fair Value Measurements (Details) - Schedule of fair value measurement [Line Items]
Marketable securities
Foreign currency derivative contracts
Total financial assets
Foreign currency derivative contracts
Total financial liabilities
Fair Value, Inputs, Level 2 [Member]
Fair Value Measurements (Details) - Schedule of fair value measurement [Line Items]
Marketable securities	127,960	48,584
Foreign currency derivative contracts	16
Total financial assets	127,976	48,584
Foreign currency derivative contracts		111
Total financial liabilities		111
Fair Value, Inputs, Level 3 [Member]
Fair Value Measurements (Details) - Schedule of fair value measurement [Line Items]
Marketable securities
Foreign currency derivative contracts
Total financial assets
Foreign currency derivative contracts
Total financial liabilities

Inventories (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Inventory delivered to customers	$ 836	$ 0

Inventories (Details) - Schedule of inventories - USD ($)
$ in Thousands

Dec. 31, 2019

Dec. 31, 2018

Schedule of inventories [Abstract]

Raw materials and components

$ 21,402

$ 17,425

Finished products

^[1]

16,075

12,605

Inventories

$ 37,477

$ 30,030

[1]	Including amounts of $0 and $836 for the years ended December 31, 2019 and 2018, respectively, with respect to inventory delivered to customers for which revenue was not yet recognized.

Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Depreciation expenses	$ 3,611	$ 3,900	$ 3,505
Reduction of cost and accumulated depreciation	$ 868	$ 861	$ 298

Property, Plant and Equipment, Net (Details) - Schedule of property, plant and equipment, net - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Significant Accounting Policies (Details) - Schedule of property and equipment on straight-line basis over useful life of assets [Line Items]
Property, plant and equipment, gross	$ 34,250	$ 29,017
Accumulated depreciation	(16,761)	(14,023)
Property, plant and equipment, net	17,489	14,994
Computer and peripheral equipment [Member]
Significant Accounting Policies (Details) - Schedule of property and equipment on straight-line basis over useful life of assets [Line Items]
Property, plant and equipment, gross	3,748	3,182
Office furniture and equipment [Member]
Significant Accounting Policies (Details) - Schedule of property and equipment on straight-line basis over useful life of assets [Line Items]
Property, plant and equipment, gross	1,818	1,757
Machinery and Equipment [Member]
Significant Accounting Policies (Details) - Schedule of property and equipment on straight-line basis over useful life of assets [Line Items]
Property, plant and equipment, gross	13,823	12,230
Leasehold Improvements [Member]
Significant Accounting Policies (Details) - Schedule of property and equipment on straight-line basis over useful life of assets [Line Items]
Property, plant and equipment, gross	8,337	8,505
Land and Building [Member]
Significant Accounting Policies (Details) - Schedule of property and equipment on straight-line basis over useful life of assets [Line Items]
Property, plant and equipment, gross	$ 6,524	$ 3,343

Intangible Assets, Net (Details) - USD ($) $ in Thousands	12 Months Ended
Intangible Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expenses	$ 856	$ 1,065	$ 1,309

Intangible Assets, Net (Details) - Schedule of intangible assets - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Original amount:
Original amount	$ 6,784	$ 4,445
Accumulated amortization:
Accumulated amortization	4,290	3,434
Intangible assets, net	$ 2,494	1,011
Acquired technology [Member]
Original amount:
Weighted average amortization period	8 years 1 month 20 days
Original amount	$ 1,566	1,566
Accumulated amortization:
Accumulated amortization	$ 1,066	966
Customer Relationships [Member]
Original amount:
Weighted average amortization period	5 years 2 months 23 days
Original amount	$ 3,504	2,614
Accumulated amortization:
Accumulated amortization	$ 2,849	2,302
Non-competition agreement [Member]
Original amount:
Weighted average amortization period	4 years
Original amount	$ 265	265
Accumulated amortization:
Accumulated amortization	$ 232	166
Software development costs [Member]
Original amount:
Weighted average amortization period	3 years
Original amount	$ 1,199
Accumulated amortization:
Accumulated amortization
Distribution Rights [Member]
Original amount:
Weighted average amortization period	1 year
Original amount	$ 250
Accumulated amortization:
Accumulated amortization	$ 143

Intangible Assets, Net (Details) - Schedule of future amortization expenses $ in Thousands	Dec. 31, 2019 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2020	$ 828
2021	697
2022	608
2023	208
2023 and thereafter	153
Total	$ 2,494

Other Payables and Accrued Expenses (Details) - Schedule of other payable and accrued expenses - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Schedule of other payable and accrued expenses [Abstract]
Government authorities	$ 564	$ 253
Warranty provision	1,433	1,909
Provision for returns	721	570
Professional services	565	412
Payment obligation related to acquisition		303
Accrued expenses	3,090	1,546
Other payables and accrued expenses	$ 6,373	$ 4,993

Commitments and Contingent Liabilities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Lines of credit maximum borrowings	$ 3,000
Interest rate, description	These lines of credit are unsecured and available provided that the Company maintains a 30% ratio of total tangible shareholders’ equity to total tangible assets and that the total credit use will be less than 70% of the Company and its subsidiaries’ receivables. Interest rates across these credit lines varied from 0.2% to Prime (Israel Interbank Offered Rate) +0.7% (current 2.3%) as of December 31, 2019.
Purchase commitments	$ 26,367
Royalties percentage				2.50%
Maximum amount of royalties payment				$ 625
Royalty expense	$ 625	$ 625	$ 625
Number of banks \| Banks	2
Actual guaranteed rent	$ 400

Shareholders' Equity (Details)				12 Months Ended
Shareholders' Equity (Details)	Jun. 18, 2019 USD ($) shares	Dec. 07, 2018 shares	Jan. 10, 2017 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 USD ($) $ / shares	Dec. 31, 2017 USD ($) $ / shares	Dec. 31, 2019 ₪ / shares
Shareholders' Equity (Details) [Line Items]
Ordinary shares sold (in Shares) \| shares		3,132,481
Net proceeds from offering				$ 129,710,000		$ 35,077,000
Ordinary shares available for future grant (in Shares) \| shares				3,269,482
Unrecognized compensation cost				$ 5,677
Weighted average vesting period				2 years 6 months 29 days
Weighted average fair value of options granted (in Dollars per share) \| $ / shares				$ 14.51	$ 9.5	$ 9.24
Fair value of options vested per share (in Dollars per share) \| $ / shares				$ 8.13
Total intrinsic value of options exercised				$ 6,742	$ 11,775	$ 10,588
Recognized reduction revenues				$ 5,094	$ 4,576	$ 2,895
Restricted Stock Units (RSUs) [Member]
Shareholders' Equity (Details) [Line Items]
Ordinary shares, par value (in New Shekels per share) \| ₪ / shares							₪ 0.01
Options exercisable, description				25% of total options are exercisable one year after the date determined for each optionee and a further 6.25% at the end of each subsequent three-month period for 3 years. Options are exercisable for up to 10 years from the grant date of the options. Options that are cancelled or forfeited before expiration become available for future grants.
Vesting period						4 years
Unrecognized compensation cost				$ 14,420
Weighted average fair value of options granted (in Dollars per share) \| $ / shares				$ 28.50	$ 17.1	$ 17.77
Fair value of options vested per share (in Dollars per share) \| $ / shares				$ 2,681
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition				3 years 2 months 26 days
Master Purchase Agreement [Member]
Shareholders' Equity (Details) [Line Items]
Vesting period			5 years
Warrants to purchase ordinary shares (in Shares) \| shares			2,932,176
Exercise price (in Dollars per share) \| $ / shares			$ 13.04
Payments for purchased products and services			$ 150,000,000	$ 5,000,000
Class of warrant exercisable (in Shares) \| shares				1,612,683
Board of Directors Chairman [Member]
Shareholders' Equity (Details) [Line Items]
Increase in the ordinary shares reserved for issuance (in Shares) \| shares				1,220,439
IPO [Member]
Shareholders' Equity (Details) [Line Items]
Ordinary shares sold (in Shares) \| shares	4,991,000
Net proceeds from offering	$ 129,710

Shareholders' Equity (Details) - Schedule of share option activity $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($) $ / shares shares
Schedule of share option activity [Abstract]
Number of Options, Outstanding, Beginning balance \| shares	1,583,564
Weighted-Average Exercise Price, Outstanding, Beginning balance \| $ / shares	$ 14.71
Weighted-Average Remaining Contractual Term, Outstanding, Beginning balance	8 years 2 months 8 days
Aggregate Intrinsic Value, Outstanding, Beginning balance \| $	$ 6,536
Number of Options, Outstanding, Ending balance \| shares	1,072,777
Weighted-Average Exercise Price, Outstanding, Ending balance \| $ / shares	$ 17.17
Weighted-Average Remaining Contractual Term, Outstanding, Ending balance	7 years 8 months 23 days
Aggregate Intrinsic Value, Outstanding, Ending balance \| $	$ 18,170
Number of Options, Exercisable \| shares	455,735
Weighted-Average Exercise Price, Exercisable \| $ / shares	$ 14.03
Weighted-Average Remaining Contractual Term, Exercisable	6 years 10 months 17 days
Aggregate Intrinsic Value, Exercisable \| $	$ 9,152
Number of Options, Granted \| shares	135,701
Weighted-Average Exercise Price, Granted \| $ / shares	$ 27.55
Weighted-Average Remaining Contractual Term, Granted	9 years 5 months 12 days
Number of Options, Exercised \| shares	(472,980)
Weighted-Average Exercise Price, Exercised \| $ / shares	$ 12.48
Number of Options, Forfeited \| shares	(173,508)
Weighted-Average Exercise Price, Forfeited \| $ / shares	$ 16.40

Shareholders' Equity (Details) - Schedule of options outstanding classified by exercise price shares in Thousands	12 Months Ended
	Dec. 31, 2019 $ / shares shares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding, Number outstanding (in Shares) \| shares	1,072,777
Options exercisable, Number outstanding (in Shares) \| shares	455,735
Exercise Price 2.07 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding, Number outstanding (in Shares) \| shares	37,490
Options outstanding, Weighted average exercise price	$ 2.07
Options outstanding, Weighted average remaining contractual life	4 years 10 months 13 days
Options exercisable, Number outstanding (in Shares) \| shares	37,490
Exercise price	$ 2.07
Options exercisable, Weighted average exercise price	$ 2.07
Options exercisable, Weighted average remaining contractual life	4 years 10 months 13 days
Exercise Price 9.38-9.97 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, minimum	$ 9.38
Exercise price, maximum	$ 9.97
Options outstanding, Number outstanding (in Shares) \| shares	62,751
Options outstanding, Weighted average exercise price	$ 9.97
Options outstanding, Weighted average remaining contractual life	4 years 9 months 29 days
Options exercisable, Number outstanding (in Shares) \| shares	62,751
Options exercisable, Weighted average exercise price	$ 9.97
Options exercisable, Weighted average remaining contractual life	4 years 9 months 29 days
Exercise Price 10.05-11.90 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, minimum	$ 10.05
Exercise price, maximum	$ 11.90
Options outstanding, Number outstanding (in Shares) \| shares	141,548
Options outstanding, Weighted average exercise price	$ 10.31
Options outstanding, Weighted average remaining contractual life	6 years 7 months 2 days
Options exercisable, Number outstanding (in Shares) \| shares	71,389
Options exercisable, Weighted average exercise price	$ 10.16
Options exercisable, Weighted average remaining contractual life	6 years 6 months 21 days
Exercise Price 12.97-15.80 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, minimum	$ 12.97
Exercise price, maximum	$ 15.80
Options outstanding, Number outstanding (in Shares) \| shares	129,542
Options outstanding, Weighted average exercise price	$ 15.26
Options outstanding, Weighted average remaining contractual life	7 years 3 days
Options exercisable, Number outstanding (in Shares) \| shares	88,210
Options exercisable, Weighted average exercise price	$ 15.01
Options exercisable, Weighted average remaining contractual life	6 years 7 months 9 days
Exercise Price Range 16.15-18.05 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, minimum	$ 16.15
Exercise price, maximum	$ 18.05
Options outstanding, Number outstanding (in Shares) \| shares	199,547
Options outstanding, Weighted average exercise price	$ 17.97
Options outstanding, Weighted average remaining contractual life	7 years 7 months 20 days
Options exercisable, Number outstanding (in Shares) \| shares	79,613
Options exercisable, Weighted average exercise price	$ 17.97
Options exercisable, Weighted average remaining contractual life	15 years 4 months 13 days
Exercise Price 18.80-19.05 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, minimum	$ 18.80
Exercise price, maximum	$ 19.05
Options outstanding, Number outstanding (in Shares) \| shares	345,611
Options outstanding, Weighted average exercise price	$ 18.81
Options outstanding, Weighted average remaining contractual life	8 years 6 months 25 days
Options exercisable, Number outstanding (in Shares) \| shares	109,822
Options exercisable, Weighted average exercise price	$ 18.82
Options exercisable, Weighted average remaining contractual life	8 years 6 months 10 days
Exercise Price 21.15-28.15 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, minimum	$ 21.15
Exercise price, maximum	$ 28.15
Options outstanding, Number outstanding (in Shares) \| shares	156,288
Options outstanding, Weighted average exercise price	$ 26.86
Options outstanding, Weighted average remaining contractual life	9 years 5 months 12 days
Options exercisable, Number outstanding (in Shares) \| shares	6,460
Options exercisable, Weighted average exercise price	$ 22.16
Options exercisable, Weighted average remaining contractual life	8 years 7 months 2 days

Shareholders' Equity (Details) - Schedule of RSUs activity - Restricted Stock Units (RSUs) [Member]	12 Months Ended
	Dec. 31, 2019 shares
Shareholders' Equity (Details) - Schedule of RSUs activity [Line Items]
Unvested at beginning of year	414,420
Granted	489,645
Vested	(155,160)
Forfeited	(70,602)
Unvested at the end of the year	678,303

Shareholders' Equity (Details) - Schedule of share-based compensation expense included in the consolidated statements of operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 6,614	$ 5,546	$ 4,411
Cost of products [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	632	494	419
Cost of services [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	520	398	210
Research and Development Expense [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	1,294	1,022	775
Selling and Marketing Expense [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	1,689	1,240	920
General and Administrative Expense [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 2,479	$ 2,392	$ 2,087

Earnings (Losses) Per Share (Details) - Schedule of computation of basic and diluted net earnings (losses) per share - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Numerator for basic and diluted earnings (losses) per share:
Net income (loss) (in Dollars)	$ 10,167	$ 12,429	$ (2,015)
Weighted average ordinary shares outstanding:
Denominator for basic earnings (losses) per share	38,079,394	34,521,352	33,574,147
Effect of dilutive securities:
Employee share options and restricted share units	1,214,721	842,352
Denominator for diluted earnings (losses) per share	39,294,115	35,363,704	33,574,147
Basic earnings (losses) per share (in Dollars per share)	$ 0.27	$ 0.36	$ (0.06)
Diluted earnings (losses) per share (in Dollars per share)	$ 0.26	$ 0.35	$ (0.06)

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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