0001213900-21-017655 | 20-F | XBRL Viewer

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Document And Entity Information	12 Months Ended
Document And Entity Information	Dec. 31, 2020 shares
Document Information Line Items
Entity Registrant Name	KORNIT DIGITAL LTD.
Trading Symbol	KRNT
Document Type	20-F
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	45,988,613
Amendment Flag	false
Entity Central Index Key	0001625791
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-36903
Entity Incorporation, State or Country Code	L3
Entity Address, Address Line One	12 Ha’Amal St.
Entity Address, City or Town	Rosh-Ha’Ayin
Entity Address, Postal Zip Code	4809246
Entity Address, Country	IL
Title of 12(b) Security	Ordinary shares, par value NIS 0.01 per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Document Accounting Standard	U.S. GAAP
Business Contact [Member]
Document Information Line Items
Entity Address, Address Line One	12 Ha’Amal St.
Entity Address, City or Town	Rosh-Ha’Ayin
Entity Address, Postal Zip Code	4809246
Entity Address, Country	IL
Contact Personnel Name	Alon Rozner
City Area Code	+972
Local Phone Number	3 908-5800
Contact Personnel Fax Number	+972 3 908-0280

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
CURRENT ASSETS:
Cash and cash equivalents	$ 125,777	$ 40,743
Short-term bank deposits	224,804	95,000
Marketable securities	13,718	32,567
Trade receivables, net	51,566	40,510
Inventories	52,487	37,477
Other accounts receivable and prepaid expenses	9,178	6,985
Total current assets	477,530	253,282
LONG-TERM ASSETS:
Marketable securities	71,636	95,393
Deposits and other long-term assets	395	356
Severance pay fund	337	301
Deferred taxes	5,096	7,781
Property, plant and equipment, net	29,255	17,489
Operating lease right-of-use assets	21,053	22,806
Intangible assets, net	7,221	2,494
Goodwill	16,466	5,564
Total long-term assets	151,459	152,184
Total assets	628,989	405,466
CURRENT LIABILITIES:
Trade payables	32,016	23,449
Employees and payroll accruals	15,022	9,165
Deferred revenues and advances from customers	27,019	2,688
Operating lease liabilities	3,957	3,902
Other payables and accrued expenses	11,613	6,373
Total current liabilities	89,627	45,577
LONG TERM LIABILITIES:
Accrued severance pay	1,214	1,035
Operating lease liabilities	18,688	19,231
Other long-term liabilities	443	1,320
Total long-term liabilities	20,345	21,586
SHAREHOLDERS’ EQUITY:
Ordinary shares of NIS 0.01 par value – Authorized: 200,000,000 shares at December 31, 2020 and 2019, respectively; Issued and Outstanding: 45,988,613 shares and 40,684,340 shares at December 31, 2020 and 2019 respectively	121	105
Additional paid in capital	488,208	304,617
Accumulated other comprehensive income	2,733	843
Retained earnings	27,955	32,738
Total shareholders’ equity	519,017	338,303
Total liabilities and shareholders’ equity	$ 628,989	$ 405,466

Consolidated Balance Sheets (Parentheticals) - ₪ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Ordinary shares, par value (in New Shekels per share)	₪ 0.01	₪ 0.01
Ordinary shares, shares authorized	200,000,000	200,000,000
Ordinary shares, shares issued	45,988,613	40,684,340
Ordinary shares, shares outstanding	45,988,613	40,684,340

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Products	$ 164,918	$ 156,594	$ 125,729
Services	28,413	23,272	16,644
Total revenues	193,331	179,866	142,373
Cost of revenues:
Products	75,040	71,057	53,303
Services	30,490	26,733	19,201
Total cost of revenues	105,530	97,790	72,504
Gross profit	87,801	82,076	69,869
Operating expenses:
Research and development, net	31,464	22,407	21,912
Sales and marketing	36,405	33,573	25,596
General and administrative	26,661	18,498	16,436
Restructuring			321
Total operating expenses	94,530	74,478	64,265
Operating income (loss)	(6,729)	7,598	5,604
Finance income, net	3,498	3,313	1,433
Income (loss) before taxes on income (tax benefit)	(3,231)	10,911	7,037
Taxes on income (tax benefit)	1,552	744	(5,392)
Net income (loss)	$ (4,783)	$ 10,167	$ 12,429
Basic earnings (losses) per share (in Dollars per share)	$ (0.11)	$ 0.27	$ 0.36
Diluted earnings (losses) per share (in Dollars per share)	$ (0.11)	$ 0.26	$ 0.35

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (4,783)	$ 10,167	$ 12,429
Change in unrealized gains (losses) on marketable securities:
Unrealized gains (losses) arising during the period, net of taxes on income (tax benefit) of $158, $93 and $(72), respectively	1,946	1,140	(848)
Losses (gains) reclassified into net income (loss), net of taxes on income (tax benefit) of $(38), $(20) and $36, respectively	(465)	(251)	441
Net change	1,481	889	(407)
Change in unrealized gains (losses) on cash flow hedges:
Unrealized gains (losses) arising during the period, net of taxes on income (tax benefit) of $23, $10 and $(14), respectively	285	130	(223)
Losses (gains) reclassified into net income (loss), net of taxes on income (tax benefit) of $(24), $(2) and $7, respectively	(294)	(28)	85
Net change	(9)	102	(138)
Foreign currency translation adjustment	418	90	6
Total other comprehensive income (loss), net of tax	1,890	1,081	(539)
Comprehensive income (loss)	$ (2,893)	$ 11,248	$ 11,890

Consolidated Statements of Comprehensive Income (Loss) (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Tax income from unrealized gains (losses) on marketable securities	$ 158	$ 93	$ (72)
Tax income from Losses (gains) on marketable securities	(38)	(20)	36
Tax income unrealized gains (losses) on cash flow hedges	23	10	(14)
Tax income from Losses (gains) on cash flow hedges	$ (24)	$ (2)	$ 7

Statements of Shareholders' Equity - USD ($) $ in Thousands	Ordinary shares	Additional paid in capital	Accumulated other comprehensive income (loss)	Retained earnings	Total
Balance at Dec. 31, 2017	$ 86	$ 140,170	$ 301	$ 10,142	$ 150,699
Balance (in Shares) at Dec. 31, 2017	34,124,223
Exercise of options and vesting of restricted stock units	$ 3	6,422			6,425
Exercise of options and vesting of restricted stock units (in Shares)	940,977
Share-based compensation		5,546			5,546
Warrants to customers		4,576			4,576
Other comprehensive income/loss			(539)		(539)
Net income (loss)				12,429	12,429
Balance at Dec. 31, 2018	$ 89	156,714	(238)	22,571	179,136
Balance (in Shares) at Dec. 31, 2018	35,065,200
Issuance of ordinary shares in a secondary offering, net of issuance costs in an amount	$ 14	130,296			130,310
Issuance of ordinary shares in a secondary offering, net of issuance costs in an amount (in Shares)	4,991,000
Exercise of options and vesting of restricted stock units	$ 2	5,899			5,901
Exercise of options and vesting of restricted stock units (in Shares)	628,140
Share-based compensation		6,614			6,614
Warrants to customers		5,094			5,094
Other comprehensive income/loss			1,081		1,081
Net income (loss)				10,167	32,738
Balance at Dec. 31, 2019	$ 105	304,617	843	32,738	338,303
Balance (in Shares) at Dec. 31, 2019	40,684,340
Issuance of ordinary shares in a secondary offering, net of issuance costs in an amount	$ 14	162,531			162,545
Issuance of ordinary shares in a secondary offering, net of issuance costs in an amount (in Shares)	4,689,941
Exercise of options and vesting of restricted stock units	$ 2	5,658			5,660
Exercise of options and vesting of restricted stock units (in Shares)	614,332
Share-based compensation		10,036			10,036
Warrants to customers		5,366			5,366
Other comprehensive income/loss			1,890		1,890
Net income (loss)				(4,783)	(4,783)
Balance at Dec. 31, 2020	$ 121	$ 488,208	$ 2,733	$ 27,955	$ 519,017
Balance (in Shares) at Dec. 31, 2020	45,988,613

Statements of Shareholders' Equity (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Net issuance costs	$ 739	$ 669

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income (loss)	$ (4,783)	$ 10,167	$ 12,429
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	4,711	4,441	4,965
Fair value of warrants deducted from revenues	5,366	5,094	4,576
Share based compensation	10,036	6,614	5,546
Amortization of premium and accretion of discount on marketable securities, net	395	(112)	388
Realized loss (gain) on sale of marketable securities	(503)	(271)	480
Change in operating assets and liabilities:
Trade receivables, net	(9,529)	(18,617)	1,069
Inventory	(15,827)	(4,183)	4,037
Deposits and long-term assets	54	386	(121)
Other accounts receivables and prepaid expenses	(2,333)	(1,204)	(3,135)
Deferred taxes	2,177	(5)	(6,665)
Operating leases right-of-use assets	(56)	(571)
Trade payables	6,864	6,032	4,394
Employees and payroll accruals	6,366	1,423	1,621
Deferred revenues and advances from customers	24,286	(921)	1,981
Operating lease liabilities	1,321	898
Other payables and accrued expenses	4,822	1,708	548
Accrued severance pay, net	143	26	(1)
Other long-term liabilities	(877)	(136)	867
Loss from sale and disposal of property, plant and equipment	139	23
Foreign currency translation gain (loss) on intercompany balances with foreign subsidiaries	(362)	212	389
Net cash provided by operating activities	32,410	11,004	33,368
Cash flows from investing activities:
Purchase of property, plant and equipment	(13,489)	(5,416)	(7,294)
Acquisition of intangible assets and capitalization of software development costs	(121)	(1,337)
Proceeds from sale of property, plant and equipment	4	3
Cash paid in connection with acquisition, net of cash acquired	(15,535)	(4,715)
Investment in short-term bank deposits	(129,804)	(90,000)	(500)
Proceeds from sale marketable securities	58,532	34,497	40,635
Proceeds from maturity of marketable securities	21,706	3,000	6,564
Investment in marketable securities	(35,923)	(115,529)	(22,723)
Net cash provided by (used in) investing activities	(114,630)	(179,497)	16,682
Cash flows from financing activities:
Proceeds from public offering, net of issuance costs	161,981	129,710
Exercise of employee stock options	5,660	5,901	6,425
Payments related to shares withheld for taxes	(596)	(177)
Payment of contingent consideration		(303)	(900)
Net cash provided by financing activities	167,045	135,131	5,525
Foreign currency translation adjustments on cash and cash equivalents	209	(27)	(72)
Increase (decrease) in cash and cash equivalents	85,034	(33,389)	55,503
Cash and cash equivalents at the beginning of the period	40,743	74,132	18,629
Cash and cash equivalents at the end of the period	125,777	40,743	74,132
Supplemental disclosure of cash flow information
Cash paid during the year for income taxes	1,028	353	1,797
Non-cash investing and financing activities:
Property, plant and equipment acquired by credit	1,904	920	222
Property and equipment transferred to be used as inventory	115
Inventory transferred to be used as property, plant and equipment	990		$ 591
Lease liabilities arising from obtaining right-of-use assets	$ 2,929	$ 9,640

General

12 Months Ended

Dec. 31, 2020

General [Abstract]

GENERAL

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, the United Kingdom and Japan. 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.

On August 7, 2020, the Company has closed a share purchase agreement with Custom Gateway Limited (“Custom Gateway”), an innovative technology provider of cloud-based software workflow solutions for on-demand production business models. Under the agreement the Company purchased 100% of Custom Gateway’s shares for a total consideration of $16,884 (see note 3).

On September 16, 2020, the Company closed a follow on and secondary offering where 4,689,941 ordinary shares were sold in the transaction to the public. The aggregate net proceeds received by the Company from the offering were $161,981, net of underwriting discounts, commissions and offering expenses.

Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

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 credit loss 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.

In 2020 the Company adopted ASU 2016-13, Topic 326 “Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments” which modifies the other than temporary impairment model for available for sale debt securities. The guidance requires the Company to determine whether a decline in fair value below the amortized cost basis of an available for sale debt security is due to credit related factors or noncredit related factors. A credit related impairment should be recognized as an allowance on the balance sheet with a corresponding adjustment to earnings, however, if the Company intends to sell an impaired available for sale debt security or more likely than not would be required to sell such a security before recovering its amortized cost basis, the entire impairment amount would be recognized in earnings with a corresponding adjustment to the security’s amortized cost basis.

The Company did not recognize an allowance for credit losses on marketable securities as the expected losses were not material for the year ended December 31, 2020. No impairment was recorded for the years ended December 31, 2019 and 2018.

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 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, 2020, 2019 and 2018, the Company recorded inventory write offs in a total amount of $5,000, $2,624 and $1,759, 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, 2020, 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. The excess of the fair value of the purchase price over the fair values of the identifiable assets and liabilities is recorded as goodwill. Such valuations require management to make significant estimates and assumptions, especially with respect to intangible assets. 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. The Company elected to perform an annual impairment test of goodwill as of December 31 of each year, or more frequently if impairment indicators are present.

The Company operates in one operating segment and this segment comprises the only reporting unit. The goodwill impairment test is performed according to the following principles:

An initial qualitative assessment may be performed to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount.

If the Company concludes it is more likely than not that the fair value of the reporting unit is less than its carrying amount, a quantitative fair value test is performed. An impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value is recognized.

During the years ended December 31, 2020, 2019 and 2018, no impairment of goodwill has been identified.

Acquired identifiable finite-lived intangible assets are amortized on a straight-line basis or accelerated method over the estimated useful lives of the assets. The basis of amortization approximates the pattern in which the assets are utilized, over their estimated useful lives. The Company routinely reviews the remaining estimated useful lives of finite-lived intangible assets. In case the Company reduces the estimated useful life for any asset, the remaining unamortized balance is amortized or depreciated over the revised estimated useful life.

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, 2020, 2019 and 2018, 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, sale of service contracts and software subscriptions. 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 and software subscriptions 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 10g), 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 $1,759 and $721 as of December 31, 2020 and 2019, 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 $27,156 and $2,867 as of December 31, 2020 and 2019, respectively and are presented under deferred revenues and advances from customers and other long-term liabilities. During the year ended December 31, 2020, the Company recognized revenues in the amount of $2,404 which have been included in the contract liabilities at January 1, 2020.

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,
	2020		2019		2018

Systems	$	87,769	$	91,353	$	65,825
Ink and consumables		77,149		65,241		59,904
Services		17,521		16,884		12,377
Service contracts and software subscriptions		10,892		6,388		4,267

Total revenue	$	193,331	$	179,866	$	142,373

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

	Year ended December 31,
	2020		2019		2018

US	$	124,375	$	100,457	$	77,652
EMEA		45,859		48,810		45,195
Asia Pacific		14,211		22,101		15,572
Other		8,886		8,498		3,954

Total revenue	$	193,331	$	179,866	$	142,373

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 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.

The following table represents the remaining performance obligations as of December 31, 2020, which are expected to be satisfied and recognized in future periods:

	2021		2022		2023 and thereafter

Products	$	25,178	$	-	$	-
Services		5,529		1,209		344

Total	$	30,707	$	1,209	$	344

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, 2020, 2019 and 2018 were $3,450, $1,639 and $1,702, 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, inventory write offs, 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, 2019 to December 31, 2020:

Balance at January 1, 2019	$	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

Provision for warranties issued during the year		3,287
Reduction for payments and costs to satisfy claims		(3,251	)

Balance at December 31, 2020	$	1,650

Research and development expenses, net:

Research and development expenses, net of government grants, 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, 2020, 2019 and 2018:

	Year ended December 31,
	2020			2019			2018

Suboptimal exercise multiple		1.5			1.0-1.5			1.0-1.5
Risk free interest rate		0.1%-0.5	%		1.5%-2.7	%		2.0%-3.1	%
Volatility		52	%		47%-48	%		47%-51	%
Dividend yield		0	%		0	%		0	%

The expected volatility is based on volatility of the Company’s share price upon actual historical stock price movements. The computation of the suboptimal exercise multiple based on empirical studies, the early exercise factor of public companies is approximately 150% for managers and 100% for other employees. 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”) including performance based 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, 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, 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,
	2020		2019

Cash flow hedge	$	-	$	6,399

Derivative instrument outstanding:

As of December 31, 2020 and 2019, the fair value of the Company’s outstanding forward and option contracts amounted to $0 and $16 which is included within “Other accounts receivable and prepaid expenses” on the balance sheets.

Derivative instrument gains and losses

During the year ended December 31, 2020, 2019 and 2018, the Company recorded pretax income (expenses) of $(5), $16 and $(21), respectively from derivatives instruments.

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 $2,273, $1,981 and $1,077 for the years ended December 31, 2020, 2019 and 2018, 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 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 collaterals or additional guarantees. The allowance for credit loss is based on the Company’s assessment of historical collection experience, customer creditworthiness, current and future economic and market conditions. The Company regularly reviews the adequacy of the allowance for credit loss based on a combination of factors, including an assessment of the current customer’s aging balance, the nature and size of the customer and the financial status of the customer. Accounts receivable deemed uncollectable are charged against the allowance for credit loss when identified. The allowance of credit loss as of December 31, 2020 amounted to $23.

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, 2020, 2019 and 2018 were $2,250, $1,808 and $1,483 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, 2020, all outstanding options and unvested 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 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The FASB subsequently issued amendments to ASU 2016-13, which have the same effective date and transition date of January 1, 2020. This standard requires entities to estimate an expected lifetime credit loss on financial assets ranging from short-term trade receivable to long-term financial investments and report credit losses using an expected losses model rather than the incurred losses model that was previously used, and establishes additional disclosures related to credit risks.

For marketable securities with unrealized losses, the standard eliminates the concept of other-than-temporary impairments and requires allowances to be recorded instead of reducing the amortized cost of the investment.

ASU 2016-13 limits the amount of credit losses to be recognized for marketable securities to the amount by which carrying value exceeds fair value and requires the reversal of previously recognized credit losses if fair value increases.

The Company adopted Topic 326 effective January 1, 2020. Based on the composition of the Company’s trade receivables and marketable securities, current economic conditions and historical credit loss activity, the adoption of this standard did not have a material impact on the Company’s consolidated financial statements. The Consolidated Financial Statements for the year ended December 31, 2020 are presented under the new standard, while comparative periods presented are not adjusted and continue to be reported in accordance with the Company’s historical accounting policy.

Acquisitions

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

ACQUISITIONS

NOTE 3:-

ACQUISITIONS

Hirsh:

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		471	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.

Custom Gateway:

On August 7, 2020, the Company, through its wholly owned subsidiary Kornit Digital United Kingdom, acquired all the outstanding shares of Custom Gateway, a leading global provider of cloud-based software workflow solutions for both B2B and B2C business models. Under the related acquisition agreement, the total consideration was $16,884. In addition, the Company incurred acquisition-related costs in a total amount of $648. Acquisition-related costs include legal, accounting, consulting fees and other external costs directly related to the acquisition.

Custom Gateway offers a cloud-based platform that enables content sourcing, creation, management and display at the front end. An order management system captures orders and uses proprietary algorithms to direct them to the appropriate production site. On the production floor, orders are routed and managed to facilitate efficient on-demand production on a mass scale. The technology enables customers to realize the full efficiency, scalability and profitability benefits of digitization by seamlessly connecting the front end, whether online or storefront, to the most suitable back-end element, such as on-demand production and logistics operations.

The Company believes this acquisition will strategically accelerate its broad-scale development effort and strengthen its value proposition for brands, retailers and fulfillers in the area of digital transformation. The Company expects the combination of Custom Gateway software workflow portfolio with its existing and future technologies to bring to the market an end-to-end solution for on-demand production.

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

	Fair value			Amortization period (years)
Tangible assets (liabilities):
Cash	$	1,349
Accounts receivables and other receivables		761
Property and equipment		53
Trade payable and other payables		(1,054	)
Deferred tax liabilities, net		(952	)

Intangible assets:
Technology		5,116		8
Non-competition *)		709		3
Goodwill		10,902		Infinite

Total purchase price	$	16,884

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, 2020

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

NOTE 4:-

FAIR VALUE MEASUREMENTS

The following is a summary of marketable securities:

	December 31, 2020
	Amortized cost		Gross unrealized gain		Gross unrealized loss			Fair value
Matures within one year:
Corporate debentures	$	13,106	$	210	$	-		$	13,316
Government debentures		402		-		-			402

		13,508		210		-			13,718
Matures after one year through three years:
Corporate debentures		63,611		1,815		(3	)		65,423
Government debentures		6,145		79		(11	)		6,213

		69,756		1,894		(14	)		71,636

Total	$	83,264	$	2,104	$	(14	)	$	85,354

	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

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, 2020
	Less than 12 months					More than 12 months				Total
	Fair value		Unrealized losses			Fair value		Unrealized losses		Fair value		Unrealized losses

Corporate debentures	$	3,821	$	(3	)	$	-	$	-	$	3,821	$	(3	)
Government debentures		3,002		(11	)		-		-		3,002		(11	)

Total	$	6,823	$	(14	)	$	-	$	-	$	6,823	$	(14	)

	December 31, 2019
	Less than 12 months					More than 12 months					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	)

The below table sets forth the Company’s assets and liabilities that were measured at fair value as of December 31, 2020 and 2019 by level within the fair value hierarchy.

	December 31, 2020
	Level 1		Level 2		Level 3		Total
Assets:
Marketable securities	$	-	$	85,354	$	-	$	85,354

Total financial assets	$	-	$	85,354	$	-	$	85,354

	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

- Definition

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, 2020

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 5:-

INVENTORIES

	December 31,
	2020		2019

Raw materials and components	$	18,026	$	21,402
Finished products (*)		34,461		16,075

	$	52,487	$	37,477

(*)	Including amounts of $10,628 and $0 for the years ended December 31, 2020 and 2019, 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, 2020

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

NOTE 6:-

PROPERTY, PLANT AND EQUIPMENT, NET

	December 31,
	2020			2019
Cost:

Computer and peripheral equipment	$	4,720		$	3,748
Office furniture and equipment		2,233			1,818
Machinery and equipment		16,968			13,823
Leasehold improvements		8,627			8,337
Building and land		15,648			6,524

		48,196			34,250

Accumulated depreciation		(18,941	)		(16,761	)

Property, plant and equipment, net	$	29,255		$	17,489

Depreciation expenses for the years ended December 31, 2020, 2019 and 2018 were $3,492, $3,611, and $3,900, respectively.

During the years ended December 31, 2020, 2019 and 2018, the Company recorded a reduction of $1,621, $868 and $861, respectively to the cost and accumulated depreciation of fully depreciated equipment no longer used.

Intangible Assets, Net

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, NET

NOTE 7:-

INTANGIBLE ASSETS, NET

Intangible assets are comprised of the following:

	Weighted average amortization period	December 31,
	Years	2020		2019
Original amount:
Acquired technology	8.03	$	6,682	$	1,566
Customer relationships	5.23		3,504		3,504
Non-competition agreement	3.27		974		265
Software development costs	3		1,320		1,199
Distribution rights	1		250		250

		$	12,730	$	6,784
Accumulated amortization:
Acquired technology			1,424		1,066
Customer relationships			3,071		2,849
Non-competition agreement			360		232
Software development costs			404		-
Distribution rights			250		143

			5,509		4,290

Intangible assets, net		$	7,221	$	2,494

Amortization expenses for the years ended December 31, 2020, 2019 and 2018 were $1,219, $856 and $1,065, respectively.

Future amortization expenses for the years ending:

December 31,
2021	$	1,613
2022		1,524
2023		993
2024		793
2025 and thereafter		2,298

	$	7,221

Other Payables and Accrued Expenses

12 Months Ended

Dec. 31, 2020

Other Payables And Accrued Expenses Disclosure [Abstract]

OTHER PAYABLES AND ACCRUED EXPENSES

NOTE 8:-

OTHER PAYABLES AND ACCRUED EXPENSES

	December 31,
	2020		2019

Government authorities	$	902	$	564
Warranty provision		1,419		1,433
Provision for returns		1,759		721
Professional services		774		565
Accrued expenses		6,759		3,090

	$	11,613	$	6,373

Commitments and Contingent Liabilities

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENT LIABILITIES

NOTE 9:-

COMMITMENTS AND CONTINGENT LIABILITIES

Charges:

As of December 31, 2020, the Company has a line of credit with an Israeli bank for total borrowings of up to $1.1 million, all of which was undrawn as of December 31, 2020. This line of credit is unsecured and available subject to the Company maintenance of 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 0.3% to 2.3% as of December 31, 2020.

Purchase commitments:

As of December 31, 2020, the Company has $45,319 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 maximum annual amount of $625.

Royalties expenses for the years ended December 31, 2020, 2019 and 2018 were $625.

Guarantees:

As of December 31, 2020, the Company provided five bank guarantees in a total amount of $579 primarily for its rented facilities.

Shareholders' Equity

12 Months Ended

Dec. 31, 2020

Stockholders' Equity Note [Abstract]

SHAREHOLDERS’ EQUITY

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.

On September 16, 2020, the Company closed a follow on and secondary offering where 2,999,999 ordinary shares were sold in the transaction to the public for an aggregate net proceeds of $161,981, net of underwriting discounts, commissions and offering expenses. In addition, 1,689,942 ordinary shares issued pursuant to exercise of warrants, were sold by the Company’s global customer. The Company did not receive any of the proceeds from the sale of these ordinary shares.

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 RSU’s including performance based RSU’s. The RSU’s generally vest over a period of four years of employment and performance based RSU’s also vest based on performance targets. RSU’s that are cancelled or forfeited become available for future grants.

During December 2020, the board of directors approved an increase in the ordinary shares reserved for issuance by 1,379,613 ordinary shares. As of December 31, 2020, an aggregate of 4,265,110 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		1,072,777		$	17.17		7.73	$	18,170
Granted		10,350			57.79		9.62
Exercised		(366,133	)		15.46
Forfeited		(30,538	)		18.09

Outstanding at end of year		686,456		$	18.66		6.87	$	48,375

Exercisable at end of year		374,526		$	15.51		6.12	$	27,574

As of December 31, 2020, the Company had $3,286 of unrecognized compensation expense related to non-vested share options expected to be recognized over a weighted average period of 2.02 years.

The weighted average fair value of options granted during the years ended December 31, 2020, 2019 and 2018 were $31.55, $14.51 and $9.5 per share, respectively. The weighted average fair value of options vested during the year ended December 31, 2020 was $9.22. The total intrinsic value of options exercised during the years ended December 31, 2020, 2019 and 2018 were $12,698, $6,742 and $11,775, respectively.

The options outstanding as of December 31, 2020, have been classified by exercise price, as follows:

	Options outstanding at December 31, 2020						Options exercisable at December 31, 2020
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		25,066		2.07		3.86		25,066		2.07		3.86
9.97		56,214		9.97		3.86		56,214		9.97		3.86
10.05-11.90		47,527		10.32		5.58		47,527		10.32		5.58
14.32-15.80		76,004		15.12		5.82		56,005		14.87		5.45
16.15-18.05		106,009		17.99		6.63		60,168		18.05		6.61
18.80-19.05		224,478		18.81		7.55		87,852		18.83		7.46
22.40-57.79		151,158		29.29		9.21		41,694		27.15		8.51

		686,456						374,526

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

	Number of RSUs

Unvested at beginning of year		678,303
Granted		455,501
Vested		(248,199	)
Forfeited		(51,284	)

Unvested at the end of the year		834,321

The weighted average fair values at grant date of RSU’s granted for the years ended December 31, 2020, 2019 and 2018 were $40.93, $28.50 and $17.1, respectively. The total fair value of RSU’s vested during the year ended December 31, 2020 was $6,181.

As of December 31, 2020, the Company had $23,736 of unrecognized compensation expense related to RSU’s, expected to be recognized over a weighted average period of 2.93 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, 2020, 2019 and 2018:

	Year ended December 31,
	2020		2019		2018

Cost of products	$	1,056	$	632	$	494
Cost of services		771		520		398
Research and development, net		1,712		1,294		1,022
Sales and marketing		2,893		1,689		1,240
General and administrative		3,604		2,479		2,392

Total share-based compensation expense	$	10,036	$	6,614	$	5,546

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. On September 16, 2020 Amazon Inc. exercised 2,162,463 warrants by cashless sale of 1,689,942 shares. As of December 31, 2020, 659,736 warrants are exercisable.

On September 14, 2020, the Company signed an amendment to the master purchase agreement with Amazon Inc. under which additional 3,401,060 warrants to purchase ordinary shares of the Company at an exercise price of $59.26 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 $400 million over a five years period beginning on January 2021, with the shares vesting incrementally each time Amazon makes a payment totaling $5 million to the Company. As of December 31, 2020, none of the additional warrants are exercisable. The fair value of the warrants was measured on the grant date using the Monte Carlo simulation with assumptions of Risk-free rate of 0.4%, Volatility rate of 52%, Dividend yield of 0% and Expected term of 5.32 years.

The Company recognized a reduction to revenues of $5,366, $5,094 and $4,576 during the years ended December 31, 2020, 2019 and 2018, respectively in respect of the warrants granted to amazon. Total unrecognized amount to be recognized as reduction in revenues related to the warrants granted to Amazon amounts to $109,098.

Earnings (Losses) Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

EARNINGS (LOSSES) PER SHARE

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,
	2020			2019		2018
Numerator for basic and diluted earnings (losses) per share:

Net income (loss)	$	(4,783	)	$	10,167	$	12,429

Weighted average ordinary shares outstanding:

Denominator for basic earnings (losses) per share		42,286,275			38,079,394		34,521,352
Effect of dilutive securities:
Employee share options, RSUs, PSUs and Warrants		-			1,214,721		842,352

Denominator for diluted earnings (losses) per share		42,286,275			39,294,115		35,363,704

Basic earnings (losses) per share	$	(0.11	)	$	0.27	$	0.36

Diluted earnings (losses) per share	$	(0.11	)	$	0.26	$	0.35

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2020

Stockholders' Equity Note [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

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, 2020:

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

Beginning balance	$	452		$	9		$	382	$	843
Other comprehensive income before reclassifications		1,984			309			418		2,711
Amounts reclassified from accumulated other comprehensive income		(503	)		(318	)		-		(821	)

Net current period other comprehensive income		1,481			(9	)		418		1,890

Ending Balance	$	1,933		$	0		$	800	$	2,733

Leases

12 Months Ended

Dec. 31, 2020

Disclosure Text Block [Abstract]

LEASES

NOTE 13:-

LEASES

The Company’s leases include offices and warehouses for its facilities worldwide, as well as car leases, which are all classified as operating leases. Certain leases include renewal options that are under the Company’s sole discretion. The renewal options were included in the right of use (“ROU”) and liability calculation if it was reasonably certain that the Company will exercise the option.

The components of lease expense for the years ended December 31, 2020 and 2019 were as follows:

	Year ended December 31,
	2020		2019

Operating lease	$	4,544	$	3,857
Short-term lease		34		131

Total lease expense	$	4,578	$	3,988

Cash paid for amounts included in the measurement of operating lease liabilities was $4,635 and $3,910 during the years ended December 31, 2020 and 2019, respectively.

The Company’s operating lease agreements have remaining lease terms ranging from 1 year to 10 years, including agreements with options to extend the leases for up to 5 years.

For the year ended December 31, 2020, the weighted average remaining lease term is approximately 8.7 years, and the weighted average discount rate is 3 percent. 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 as of December 31, 2020 were as follows:

2021	$	4,506
2022		3,544
2023		2,604
2024		2,458
2025 and after		11,812

Total operating lease payments	$	24,924

Less - imputed interest		2,279

Present value of lease liabilities	$	22,645

Taxes on Income

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

TAXES ON INCOME

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: 2020, 2019 and 2018: 23%.

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 was 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, 2020, tax-exempt income of $131,471 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 $30,300 of additional taxes would be incurred as of December 31, 2020.

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%.

The 2017 Amendment provides that a technology company satisfying certain conditions will qualify as a Preferred Technology Enterprise and will thereby enjoy a reduced corporate tax rate of 12% on income that qualifies as “Preferred Technology Income”, as defined in the Investment Law. The tax rate is further reduced to 7.5% for a Preferred Technology Enterprise located in development zone A. These corporate tax rates shall apply only with respect to the portion of the Preferred Technology Income derived from R&D developed in Israel. In addition, a Preferred Technology Company will enjoy a reduced corporate tax rate of 12% on capital gain derived from the sale of certain “Benefitted Intangible Assets” (as defined in the Investment Law) to a related foreign company if the Benefitted Intangible Assets were acquired from a foreign company on or after January 1, 2017 for at least NIS 200 million, and the sale receives prior approval from the National Authority for Technological Authority (previously known as the Israeli Office of the Chief Scientist), referred to as the Innovation Authority.

Dividends distributed by a Preferred Technology Enterprise, paid out of Preferred Technology Income, are generally subject to withholding tax at source at the rate of 20% or such lower rate as may be provided in an applicable tax treaty (subject to the receipt in advance of a valid certificate from the Israel Tax Authority allowing for a reduced tax rate). However, if such dividends are paid to an Israeli company, no tax is required to be withheld (although, if such dividends are subsequently distributed from such Israeli company to individuals or a non-Israeli company, withholding tax at a rate of 20% or such lower rate as may be provided in an applicable tax treaty will apply).

The Company and its Israeli subsidiary believe they meet the conditions for “Preferred Technological Enterprises”, and 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%.

From time to time, the Israeli Government has discussed reducing the benefits available to companies under the Investment Law. The termination or substantial reduction of any of the benefits available under the Investment Law could materially increase our tax liabilities.

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, 2020 was $12,969. If these undistributed earnings are distributed, they would be taxed at the corporate tax rate applicable to such income, and $1,074 of additional taxes would be incurred as of December 31, 2020.

Tax assessments:

The Company and its Israeli subsidiary are currently subject to a tax audit for the years 2013 to 2018 by the Israeli Tax Authority, (“ITA”). The Company and its Israeli subsidiary received tax orders for years 2013 to 2014 and tax assessments for the years 2015 to 2018. The Company’s management, based on a legal opinion received from its legal counsels, believes that it has adequately provided for any reasonably foreseeable outcome related to the ITA tax audits. The Company and its Israeli subsidiary appealed to the district court in respect of ITA claims for the years 2013 to 2014 and filed an objection for a second review by the ITA for the years 2015 to 2018. Nevertheless, the ITA may disagree with the Company and its Israeli subsidiary positions taken in the tax returns, 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 2014 and 2016, respectively, and the Hong Kong, UK and Japan subsidiaries 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 $73,925 as of December 31, 2020 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,
	2020			2019

Carryforward tax losses	$	1,688		$	3,282
Share-based compensation		695			1,569
Research and development expenses		1,933			1,468
Other temporary differences		1,840			1,471

Deferred tax assets		6,156			7,790

Deferred tax liability due to intangible assets		(1,060	)		(9	)

Deferred tax assets, net	$	5,096		$	7,781

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,
	2020			2019		2018

Domestic	$	(6,926	)	$	7,343	$	4,458
Foreign		3,695			3,568		2,579

Income (loss) before income taxes	$	(3,231	)	$	10,911	$	7,037

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

	Year ended December 31,
	2020		2019			2018

Current taxes	$	210	$	677		$	1,088
Deferred taxes		1,342		67			(6,480	)

	$	1,552	$	744		$	(5,392	)

Domestic	$	1,360	$	(337	)	$	(6,050	)
Foreign		192		1,081			658

	$	1,552	$	744		$	(5,392	)

	Year ended December 31,
	2020			2019			2018
Domestic taxes:

Current taxes	$	16		$	(208	)	$	333
Deferred taxes		1,344			(129	)		(6,383	)

		1,360			(337	)		(6,050	)

Foreign taxes:

Current taxes		194			885			755
Deferred taxes		(2	)		196			(97	)

		192			1,081			658

Taxes on income	$	1,552		$	744		$	(5,392	)

Uncertain tax positions:

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

	December 31,
	2020		2019

Beginning of year	$	3,039	$	2,240
Increases related to tax positions taken during prior years		1,318		51
Increases related to tax positions taken during the current year		-		662
Cumulative translation adjustments and other		-		86

Balance at December 31 *)	$	4,357	$	3,039

*)	As of December 31, 2020, and 2019 unrecognized tax benefit in the amount of $4,357 and $1,880 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, 2020, 2019 and 2018, an amount of $5, $51 and $115, 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, 2020, and 2019, the Company had accrued interest related to uncertain tax positions in the amounts of $0 and $237, 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,
	2020			2019			2018

Income (loss) before taxes, as reported in the consolidated statements of operations	$	(3,231	)	$	10,911		$	7,037

Theoretical tax expense (benefit) at the Israeli statutory tax rate		(741	)		2,510			1,618
Tax adjustment in respect of different tax rate of foreign subsidiaries		(94	)		151			43
Non-deductible expenses and other permanent differences		(278	)		77			64
Deferred taxes on losses and other temporary differences for which valuation allowance was provided, net		-			-			(5,503	)
Stock based compensation		1,485			1,247			1,161
Change in tax rate		-			-			-
Beneficiary enterprise benefits (*)		(68	)		(3,935	)		(3,469	)
Increase in other uncertain tax positions		1,318			713			765
Other		(70	)		(19	)		(71	)

Actual tax expense (benefit)	$	1,552		$	744		$	(5,392	)

(*) Basic and diluted earnings per share amounts of the benefit resulting from the “Beneficiary Enterprise” status		0.00			0.10			0.10

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Geographic Information

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

GEOGRAPHIC INFORMATION

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, 2020 and 2019:

	December 31,
	2020		2019

U.S	$	1,676	$	1,782
Israel		27,073		15,253
EMEA		352		258
Asia Pacific		154		196

	$	29,955	$	17,489

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,
	2020			2019			2018

Customer A		0	%		0	%		15	%
Customer B		11	%		12	%		17	%

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Selected Statements of Operations Data

12 Months Ended

Dec. 31, 2020

Condensed Financial Statement [Abstract]

SELECTED STATEMENTS OF OPERATIONS DATA

NOTE 16:-

SELECTED STATEMENTS OF OPERATIONS DATA

Financial income, net:

	Year ended December 31,
	2020			2019			2018
Financial income:

Interest on bank deposits and other	$	2,238		$	2,535		$	406
Exchange rate differences, net		-			-			87
Realized gain on sale of marketable securities, net		503			271			-
Interest on marketable securities		2,870			1,975			2,107
Amortization of premium and accretion of discount on marketable securities, net		-			112			-

		5,611			4,893			2,600
Financial expenses:

Bank charges		(357	)		(405	)		(299	)
Exchange rate differences, net		(1,361	)		(1,175	)		-
Realized loss on sale of marketable securities, net		-			-			(480	)
Amortization of premium and accretion of discount on marketable securities, net		(395	)		-			(388	)

		(2,113	)		(1,580	)		(1,167	)

Total financial income, net:	$	3,498		$	3,313		$	1,433

Balances and Transactions with Related Parties

12 Months Ended

Dec. 31, 2020

BALANCES AND TRANSACTIONS WITH RELATED PARTIES

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 was owned, in part, by the Chairman of the Board. The Company has an ongoing logistic contract with Fritz. During the years ended December 31, 2020, 2019 and 2018 logistic service fees amounted to $4,096, $3,762 and $2,673, respectively. As of December 31, 2020, and 2019, the Company had trade payables balances due to this related party in amounts of $1,546 and $934, respectively.

Accord Insurance Agency Ltd. (“Acord”)

The Company 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 the Chairman of the Board. Accord is the Company’s insurance agent for most of its insurance policies. During the years ended December 31, 2020, 2019 and 2018 total premium under the policies amounted to $838, $843 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, 2020, 2019 and 2018 maintenances fees and additional licenses acquired amounted to $100, $109 and $76, respectively. As of December 31, 2020, and 2019, the Company had trade payables balances due to this related party in amounts of $65 and $22, respectively.

Tritone Technologies Ltd. (“Tritone”)

On September 13, 2020 the Company entered into a sublease agreement with Tritone Technologies Ltd., whose CEO is Mr. Ofer Ben Zur, a director of the Company and whose one of its shareholders is an equity fund controlled by the chairman of the Board, for the sublease of 192 square meters in Rosh Ha’Ayin. The term of the lease is 24 months until September 12, 2022, with an option to extend the term by additional 12 months. The rent under the sublease is $2 per month. The sublease agreement is carried out on a “back-to-back” basis, as the Company pays over the rent that it receives directly to its landlord. As of December 31, 2020, the Company had a trade receivable balance due from this related party in an amount of $3.

Accounting Policies, by Policy (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Use of estimates

Use of estimates:

Financial statements in United States dollars

Financial statements in United States dollars:

Principles of consolidation

Principles of consolidation:

Cash equivalents

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:

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

Marketable securities:

Inventories

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, 2020, 2019 and 2018, the Company recorded inventory write offs in a total amount of $5,000, $2,624 and $1,759, respectively.

Property, plant and equipment

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		**)

*)	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.

**)

Business combinations

Business combinations:

Goodwill and other intangible assets

Goodwill and other intangible assets:

The Company operates in one operating segment and this segment comprises the only reporting unit. The goodwill impairment test is performed according to the following principles:

An initial qualitative assessment may be performed to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount.

During the years ended December 31, 2020, 2019 and 2018, 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, 2020, 2019 and 2018, no impairment losses were recorded.

Revenue recognition

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,
	2020		2019		2018

Systems	$	87,769	$	91,353	$	65,825
Ink and consumables		77,149		65,241		59,904
Services		17,521		16,884		12,377
Service contracts and software subscriptions		10,892		6,388		4,267

Total revenue	$	193,331	$	179,866	$	142,373

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

	Year ended December 31,
	2020		2019		2018

US	$	124,375	$	100,457	$	77,652
EMEA		45,859		48,810		45,195
Asia Pacific		14,211		22,101		15,572
Other		8,886		8,498		3,954

Total revenue	$	193,331	$	179,866	$	142,373

The following table represents the remaining performance obligations as of December 31, 2020, which are expected to be satisfied and recognized in future periods:

	2021		2022		2023 and thereafter

Products	$	25,178	$	-	$	-
Services		5,529		1,209		344

Total	$	30,707	$	1,209	$	344

Shipping and Handling

Shipping and Handling:

Cost of revenues

Cost of revenues:

Warranty costs

Warranty costs:

The followings are the changes in the liability for product warranty from January 1, 2019 to December 31, 2020:

Balance at January 1, 2019	$	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

Provision for warranties issued during the year		3,287
Reduction for payments and costs to satisfy claims		(3,251	)

Balance at December 31, 2020	$	1,650

Research and development expenses, net

Research and development expenses, net:

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

Internal use software

Internal use software:

Restructuring

Restructuring:

Accounting for share-based compensation

Accounting for share-based compensation:

	Year ended December 31,
	2020			2019			2018

Suboptimal exercise multiple		1.5			1.0-1.5			1.0-1.5
Risk free interest rate		0.1%-0.5	%		1.5%-2.7	%		2.0%-3.1	%
Volatility		52	%		47%-48	%		47%-51	%
Dividend yield		0	%		0	%		0	%

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

Derivatives and hedging

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,
	2020		2019

Cash flow hedge	$	-	$	6,399

Derivative instrument outstanding:

Derivative instrument gains and losses

During the year ended December 31, 2020, 2019 and 2018, the Company recorded pretax income (expenses) of $(5), $16 and $(21), respectively from derivatives instruments.

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:

Advertising costs are charged to operations as incurred and were $2,273, $1,981 and $1,077 for the years ended December 31, 2020, 2019 and 2018, respectively.

Income taxes

Income taxes:

Concentrations of credit risks

Concentrations of credit risks:

Severance pay

Severance pay:

Severance expenses for the years ended December 31, 2020, 2019 and 2018 were $2,250, $1,808 and $1,483 respectively.

Fair value of financial instruments

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

Comprehensive income:

Basic and diluted earnings per share

aa.

Basic and diluted earnings per share:

Recently adopted accounting standard

bb.

Recently adopted accounting standard:

Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Schedule of property and equipment on straight-line basis over useful life of assets

		%
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.

**)

Schedule of revenue disaggregated by revenue source

	Year ended December 31,
	2020		2019		2018

Systems	$	87,769	$	91,353	$	65,825
Ink and consumables		77,149		65,241		59,904
Services		17,521		16,884		12,377
Service contracts and software subscriptions		10,892		6,388		4,267

Total revenue	$	193,331	$	179,866	$	142,373

Schedule of revenue disaggregated by geography based on customer location

	Year ended December 31,
	2020		2019		2018

US	$	124,375	$	100,457	$	77,652
EMEA		45,859		48,810		45,195
Asia Pacific		14,211		22,101		15,572
Other		8,886		8,498		3,954

Total revenue	$	193,331	$	179,866	$	142,373

Schedule of outstanding performance obligations of deferred revenues

	2021		2022		2023 and thereafter

Products	$	25,178	$	-	$	-
Services		5,529		1,209		344

Total	$	30,707	$	1,209	$	344

Schedule of changes in liability for product warranty

Balance at January 1, 2019	$	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

Provision for warranties issued during the year		3,287
Reduction for payments and costs to satisfy claims		(3,251	)

Balance at December 31, 2020	$	1,650

Schedule of fair value method for stock options awards

	Year ended December 31,
	2020			2019			2018

Suboptimal exercise multiple		1.5			1.0-1.5			1.0-1.5
Risk free interest rate		0.1%-0.5	%		1.5%-2.7	%		2.0%-3.1	%
Volatility		52	%		47%-48	%		47%-51	%
Dividend yield		0	%		0	%		0	%

Schedule of notional amounts of outstanding derivative positions

	December 31,
	2020		2019

Cash flow hedge	$	-	$	6,399

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Schedule of purchase price allocation

	Fair value		Amortization period (years)
Tangible assets
Inventory	$	3,353

Intangible assets:
Customer relationships *)		890	5.9
Goodwill		471	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			Amortization period (years)
Tangible assets (liabilities):
Cash	$	1,349
Accounts receivables and other receivables		761
Property and equipment		53
Trade payable and other payables		(1,054	)
Deferred tax liabilities, net		(952	)

Intangible assets:
Technology		5,116		8
Non-competition *)		709		3
Goodwill		10,902		Infinite

Total purchase price	$	16,884

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of marketable securities

	December 31, 2020
	Amortized cost		Gross unrealized gain		Gross unrealized loss			Fair value
Matures within one year:
Corporate debentures	$	13,106	$	210	$	-		$	13,316
Government debentures		402		-		-			402

		13,508		210		-			13,718
Matures after one year through three years:
Corporate debentures		63,611		1,815		(3	)		65,423
Government debentures		6,145		79		(11	)		6,213

		69,756		1,894		(14	)		71,636

Total	$	83,264	$	2,104	$	(14	)	$	85,354

	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

Schedule of investments with continuous unrealized losses

	December 31, 2020
	Less than 12 months					More than 12 months				Total
	Fair value		Unrealized losses			Fair value		Unrealized losses		Fair value		Unrealized losses

Corporate debentures	$	3,821	$	(3	)	$	-	$	-	$	3,821	$	(3	)
Government debentures		3,002		(11	)		-		-		3,002		(11	)

Total	$	6,823	$	(14	)	$	-	$	-	$	6,823	$	(14	)

	December 31, 2019
	Less than 12 months					More than 12 months					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	)

Schedule of assets and liabilities measured at fair value

	December 31, 2020
	Level 1		Level 2		Level 3		Total
Assets:
Marketable securities	$	-	$	85,354	$	-	$	85,354

Total financial assets	$	-	$	85,354	$	-	$	85,354

	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

Inventories (Tables)

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

Schedule of inventories

	December 31,
	2020		2019

Raw materials and components	$	18,026	$	21,402
Finished products (*)		34,461		16,075

	$	52,487	$	37,477

(*)	Including amounts of $10,628 and $0 for the years ended December 31, 2020 and 2019, 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, 2020

Property, Plant and Equipment [Abstract]

Schedule of property, plant and equipment

	December 31,
	2020			2019
Cost:

Computer and peripheral equipment	$	4,720		$	3,748
Office furniture and equipment		2,233			1,818
Machinery and equipment		16,968			13,823
Leasehold improvements		8,627			8,337
Building and land		15,648			6,524

		48,196			34,250

Accumulated depreciation		(18,941	)		(16,761	)

Property, plant and equipment, net	$	29,255		$	17,489

Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of intangible assets

	Weighted average amortization period	December 31,
	Years	2020		2019
Original amount:
Acquired technology	8.03	$	6,682	$	1,566
Customer relationships	5.23		3,504		3,504
Non-competition agreement	3.27		974		265
Software development costs	3		1,320		1,199
Distribution rights	1		250		250

		$	12,730	$	6,784
Accumulated amortization:
Acquired technology			1,424		1,066
Customer relationships			3,071		2,849
Non-competition agreement			360		232
Software development costs			404		-
Distribution rights			250		143

			5,509		4,290

Intangible assets, net		$	7,221	$	2,494

Schedule of future amortization expenses

December 31,
2021	$	1,613
2022		1,524
2023		993
2024		793
2025 and thereafter		2,298

	$	7,221

Other Payables and Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2020

Other Payables And Accrued Expenses Disclosure [Abstract]

Schedule of other payable and accrued expenses

	December 31,
	2020		2019

Government authorities	$	902	$	564
Warranty provision		1,419		1,433
Provision for returns		1,759		721
Professional services		774		565
Accrued expenses		6,759		3,090

	$	11,613	$	6,373

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2020

Stockholders' Equity Note [Abstract]

Schedule of share option activity and related information

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

Outstanding at beginning of year		1,072,777		$	17.17		7.73	$	18,170
Granted		10,350			57.79		9.62
Exercised		(366,133	)		15.46
Forfeited		(30,538	)		18.09

Outstanding at end of year		686,456		$	18.66		6.87	$	48,375

Exercisable at end of year		374,526		$	15.51		6.12	$	27,574

Schedule of options outstanding classified by exercise price

	Options outstanding at December 31, 2020						Options exercisable at December 31, 2020
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		25,066		2.07		3.86		25,066		2.07		3.86
9.97		56,214		9.97		3.86		56,214		9.97		3.86
10.05-11.90		47,527		10.32		5.58		47,527		10.32		5.58
14.32-15.80		76,004		15.12		5.82		56,005		14.87		5.45
16.15-18.05		106,009		17.99		6.63		60,168		18.05		6.61
18.80-19.05		224,478		18.81		7.55		87,852		18.83		7.46
22.40-57.79		151,158		29.29		9.21		41,694		27.15		8.51

		686,456						374,526

Schedule of RSU’s activity

	Number of RSUs

Unvested at beginning of year		678,303
Granted		455,501
Vested		(248,199	)
Forfeited		(51,284	)

Unvested at the end of the year		834,321

Schedule of share based compensation expense

	Year ended December 31,
	2020		2019		2018

Cost of products	$	1,056	$	632	$	494
Cost of services		771		520		398
Research and development, net		1,712		1,294		1,022
Sales and marketing		2,893		1,689		1,240
General and administrative		3,604		2,479		2,392

Total share-based compensation expense	$	10,036	$	6,614	$	5,546

Earnings (Losses) Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Schedule of basic and diluted earnings (losses) per share

	Year ended December 31,
	2020			2019		2018
Numerator for basic and diluted earnings (losses) per share:

Net income (loss)	$	(4,783	)	$	10,167	$	12,429

Weighted average ordinary shares outstanding:

Denominator for basic earnings (losses) per share		42,286,275			38,079,394		34,521,352
Effect of dilutive securities:
Employee share options, RSUs, PSUs and Warrants		-			1,214,721		842,352

Denominator for diluted earnings (losses) per share		42,286,275			39,294,115		35,363,704

Basic earnings (losses) per share	$	(0.11	)	$	0.27	$	0.36

Diluted earnings (losses) per share	$	(0.11	)	$	0.26	$	0.35

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2020

Stockholders' Equity Note [Abstract]

Schedule of accumulated balances other comprehensive income (Loss)

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

Beginning balance	$	452		$	9		$	382	$	843
Other comprehensive income before reclassifications		1,984			309			418		2,711
Amounts reclassified from accumulated other comprehensive income		(503	)		(318	)		-		(821	)

Net current period other comprehensive income		1,481			(9	)		418		1,890

Ending Balance	$	1,933		$	0		$	800	$	2,733

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Schedule of lease expense

	Year ended December 31,
	2020		2019

Operating lease	$	4,544	$	3,857
Short-term lease		34		131

Total lease expense	$	4,578	$	3,988

Schedule of future maturities of operating lease liabilities

2021	$	4,506
2022		3,544
2023		2,604
2024		2,458
2025 and after		11,812

Total operating lease payments	$	24,924

Less - imputed interest		2,279

Present value of lease liabilities	$	22,645

Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of deferred tax assets and liabilities

	December 31,
	2020			2019

Carryforward tax losses	$	1,688		$	3,282
Share-based compensation		695			1,569
Research and development expenses		1,933			1,468
Other temporary differences		1,840			1,471

Deferred tax assets		6,156			7,790

Deferred tax liability due to intangible assets		(1,060	)		(9	)

Deferred tax assets, net	$	5,096		$	7,781

Schedule of income (loss) before income taxex

	Year ended December 31,
	2020			2019		2018

Domestic	$	(6,926	)	$	7,343	$	4,458
Foreign		3,695			3,568		2,579

Income (loss) before income taxes	$	(3,231	)	$	10,911	$	7,037

Schedule of taxes on income (tax benefits)

	Year ended December 31,
	2020		2019			2018

Current taxes	$	210	$	677		$	1,088
Deferred taxes		1,342		67			(6,480	)

	$	1,552	$	744		$	(5,392	)

Domestic	$	1,360	$	(337	)	$	(6,050	)
Foreign		192		1,081			658

	$	1,552	$	744		$	(5,392	)

Schedule of taxes on income (tax benefits), domestic and foreign

	Year ended December 31,
	2020			2019			2018
Domestic taxes:

Current taxes	$	16		$	(208	)	$	333
Deferred taxes		1,344			(129	)		(6,383	)

		1,360			(337	)		(6,050	)

Foreign taxes:

Current taxes		194			885			755
Deferred taxes		(2	)		196			(97	)

		192			1,081			658

Taxes on income	$	1,552		$	744		$	(5,392	)

Schedule of unrecognized tax benefits

	December 31,
	2020		2019

Beginning of year	$	3,039	$	2,240
Increases related to tax positions taken during prior years		1,318		51
Increases related to tax positions taken during the current year		-		662
Cumulative translation adjustments and other		-		86

Balance at December 31 *)	$	4,357	$	3,039

*)	As of December 31, 2020, and 2019 unrecognized tax benefit in the amount of $4,357 and $1,880 were presented as a reduction from deferred taxes.

Schedule of effective income tax rate reconciliation

	Year ended December 31,
	2020			2019			2018

Income (loss) before taxes, as reported in the consolidated statements of operations	$	(3,231	)	$	10,911		$	7,037

Theoretical tax expense (benefit) at the Israeli statutory tax rate		(741	)		2,510			1,618
Tax adjustment in respect of different tax rate of foreign subsidiaries		(94	)		151			43
Non-deductible expenses and other permanent differences		(278	)		77			64
Deferred taxes on losses and other temporary differences for which valuation allowance was provided, net		-			-			(5,503	)
Stock based compensation		1,485			1,247			1,161
Change in tax rate		-			-			-
Beneficiary enterprise benefits (*)		(68	)		(3,935	)		(3,469	)
Increase in other uncertain tax positions		1,318			713			765
Other		(70	)		(19	)		(71	)

Actual tax expense (benefit)	$	1,552		$	744		$	(5,392	)

(*) Basic and diluted earnings per share amounts of the benefit resulting from the “Beneficiary Enterprise” status		0.00			0.10			0.10

Geographic Information (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of long-lived assets by geographic region

	December 31,
	2020		2019

U.S	$	1,676	$	1,782
Israel		27,073		15,253
EMEA		352		258
Asia Pacific		154		196

	$	29,955	$	17,489

Schedule of major customers’ data as a percentage

	Year ended December 31,
	2020			2019			2018

Customer A		0	%		0	%		15	%
Customer B		11	%		12	%		17	%

Selected Statements of Operations Data (Tables)

12 Months Ended

Dec. 31, 2020

Condensed Financial Statement [Abstract]

Schedule of financial income, net

	Year ended December 31,
	2020			2019			2018
Financial income:

Interest on bank deposits and other	$	2,238		$	2,535		$	406
Exchange rate differences, net		-			-			87
Realized gain on sale of marketable securities, net		503			271			-
Interest on marketable securities		2,870			1,975			2,107
Amortization of premium and accretion of discount on marketable securities, net		-			112			-

		5,611			4,893			2,600
Financial expenses:

Bank charges		(357	)		(405	)		(299	)
Exchange rate differences, net		(1,361	)		(1,175	)		-
Realized loss on sale of marketable securities, net		-			-			(480	)
Amortization of premium and accretion of discount on marketable securities, net		(395	)		-			(388	)

		(2,113	)		(1,580	)		(1,167	)

Total financial income, net:	$	3,498		$	3,313		$	1,433

General (Details) - USD ($) $ in Thousands			1 Months Ended	12 Months Ended
General (Details) - USD ($) $ in Thousands	Aug. 07, 2020	Jun. 18, 2019	Sep. 16, 2020	Dec. 31, 2020	Dec. 31, 2019
General (Details) [Line Items]
Aggregate net proceeds received				$ 161,981	$ 129,710
Secondary offering [Member]
General (Details) [Line Items]
Sale of ordinary shares issued (in Shares)		4,991,000	4,689,941
Aggregate net proceeds received		$ 129,710	$ 161,981
Custom Gateway Limited [Member]
General (Details) [Line Items]
Purchased shares percentage	100.00%
Total consideration	$ 16,884

Significant Accounting Policies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Description of debt maturity date	original maturity of more than three months but less than one year from the date of acquisition.
Inventory write off	$ 5,000	$ 2,624	$ 1,759
Lease term	98 years
Provisions for estimated sales returns	$ 1,759	721
Contract Liabilities	27,156	2,867
Recognized revenues	2,404
Revenues from shipping	$ 3,450	1,639	1,702
Percentage of exercise factor	150.00%
Percentage of share-based compensation to other employees	100.00%
Fair value of outstanding forward and option	$ 0	16
Pretax income (expenses)	(5)	16	(21)
Advertising costs	$ 2,273	1,981	1,077
Percentage of tax benefits	50.00%
Allowance of credit loss	$ 23
Monthly deposits rate	8.33%
Severance expenses	$ 2,250	$ 1,808	$ 1,483
Anti-dilutive excluded from calculation of diluted net earnings (in Shares)		536,359	884,028

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

Dec. 31, 2020

Office furniture and equipment [Member] | Minimum [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%

Office furniture and equipment [Member] | Maximum [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%

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 and equipment useful life of assets at annual rates

33.00%

Machinery and equipment [Member] | Minimum [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%

Machinery and equipment [Member] | Maximum [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%

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 and land [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]

[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, 2020, the ink manufacturing plant is under construction. Depreciation of the manufacturing plant will begin upon completion of its construction.

Significant Accounting Policies (Details) - Schedule of revenue disaggregated by revenue source - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Systems [Member]
Significant Accounting Policies (Details) - Schedule of revenue disaggregated by revenue source [Line Items]
Total revenue	$ 87,769	$ 91,353	$ 65,825
Ink and consumables [Member]
Significant Accounting Policies (Details) - Schedule of revenue disaggregated by revenue source [Line Items]
Total revenue	77,149	65,241	59,904
Services [Member]
Significant Accounting Policies (Details) - Schedule of revenue disaggregated by revenue source [Line Items]
Total revenue	17,521	16,884	12,377
Service contracts and software subscriptions [Member]
Significant Accounting Policies (Details) - Schedule of revenue disaggregated by revenue source [Line Items]
Total revenue	10,892	6,388	4,267
Total revenue [Member]
Significant Accounting Policies (Details) - Schedule of revenue disaggregated by revenue source [Line Items]
Total revenue	$ 193,331	$ 179,866	$ 142,373

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

+ Details

Significant Accounting Policies (Details) - Schedule of revenue disaggregated by geography based on customer location - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
US [Member]
Significant Accounting Policies (Details) - Schedule of revenue disaggregated by geography based on customer location [Line Items]
Total revenue	$ 124,375	$ 100,457	$ 77,652
EMEA [Member]
Significant Accounting Policies (Details) - Schedule of revenue disaggregated by geography based on customer location [Line Items]
Total revenue	45,859	48,810	45,195
Asia Pacific [Member]
Significant Accounting Policies (Details) - Schedule of revenue disaggregated by geography based on customer location [Line Items]
Total revenue	14,211	22,101	15,572
Other [Member]
Significant Accounting Policies (Details) - Schedule of revenue disaggregated by geography based on customer location [Line Items]
Total revenue	8,886	8,498	3,954
Total revenue [Member]
Significant Accounting Policies (Details) - Schedule of revenue disaggregated by geography based on customer location [Line Items]
Total revenue	$ 193,331	$ 179,866	$ 142,373

- Definition

+ References

+ Details

Significant Accounting Policies (Details) - Schedule of outstanding performance obligations of deferred revenues $ in Thousands	Dec. 31, 2020 USD ($)
2021 [Member]
Revenue from External Customer [Line Items]
Total	$ 30,707
2021 [Member] \| Products [Member]
Revenue from External Customer [Line Items]
Total	25,178
2021 [Member] \| Services [Member]
Revenue from External Customer [Line Items]
Total	5,529
2022 [Member]
Revenue from External Customer [Line Items]
Total	1,209
2022 [Member] \| Products [Member]
Revenue from External Customer [Line Items]
Total
2022 [Member] \| Services [Member]
Revenue from External Customer [Line Items]
Total	1,209
2023 and thereafter [Member]
Revenue from External Customer [Line Items]
Total	344
2023 and thereafter [Member] \| Products [Member]
Revenue from External Customer [Line Items]
Total
2023 and thereafter [Member] \| Services [Member]
Revenue from External Customer [Line Items]
Total	$ 344

Significant Accounting Policies (Details) - Schedule of changes in liability for product warranty - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Schedule of changes in liability for product warranty [Abstract]
Balance	$ 1,614	$ 2,237
Provision for warranties issued during the year	3,287	2,977
Reduction for payments and costs to satisfy claims	(3,251)	(3,600)
Balance	$ 1,650	$ 1,614

Significant Accounting Policies (Details) - Schedule of fair value method for stock options awards - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Suboptimal exercise multiple (in Dollars per share)	$ 1.5
Volatility	52.00%
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
Risk free interest rate	0.10%	1.50%	2.00%
Volatility		47.00%	47.00%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Suboptimal exercise multiple (in Dollars per share)		$ 1.5	$ 1.5
Risk free interest rate	0.50%	2.70%	3.10%
Volatility		48.00%	51.00%

Significant Accounting Policies (Details) - Schedule of notional amounts of outstanding derivative positions - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Schedule of notional amounts of outstanding derivative positions [Abstract]
Cash flow hedge		$ 6,399

Acquisitions (Details) - USD ($) $ in Thousands		1 Months Ended
Acquisitions (Details) - USD ($) $ in Thousands	Aug. 07, 2020	Feb. 17, 2019
Kornit Digital North America Inc. [Member]
Acquisitions (Details) [Line Items]
Total consideration		$ 4,715
Acquisition related costs		$ 85
Kornit Digital United Kingdom [Member]
Acquisitions (Details) [Line Items]
Total consideration	$ 16,884
Acquisition related costs	$ 648

Acquisitions (Details) - Schedule of purchase price allocation
$ in Thousands

12 Months Ended

Dec. 31, 2020

USD ($)

Hirsch Solutions Inc. [Member]

Business Acquisition [Line Items]

$ 3,353

$ 471

Infinite

$ 4,715

Hirsch Solutions Inc. [Member] | Customer Relationships [Member]

Business Acquisition [Line Items]

Intangible assets

$ 890

^[1]

Intangible assets

5 years 10 months 24 days

^[1]

Customer Gateway [Member]

Business Acquisition [Line Items]

Goodwill

$ 10,902

Goodwill

Infinite

Total purchase price

$ 16,884

Tangible assets (liabilities):

Cash

1,349

Accounts receivables and other receivables

761

Property and equipment

Trade payable and other payables

(1,054)

Deferred tax liabilities, net

(952)

Customer Gateway [Member] | Technology [Member]

Business Acquisition [Line Items]

Intangible assets

$ 5,116

Intangible assets

8 years

Customer Gateway [Member] | Non-Competition [Member]

Business Acquisition [Line Items]

Intangible assets

$ 709

^[1]

Intangible assets

3 years

^[1]

[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 marketable securities - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Matures within one year:
Amortized cost	$ 83,264	$ 127,471
Gross unrealized gain	2,104	620
Gross unrealized loss	(14)	(131)
Fair value	85,354	127,960
Matures within one year: Corporate debentures [Member]
Matures within one year:
Amortized cost	13,106	27,624
Gross unrealized gain	210	24
Gross unrealized loss		(11)
Fair value	13,316	27,637
Matures within one year, Government debentures [Member]
Matures within one year:
Amortized cost	402	4,930
Gross unrealized gain
Gross unrealized loss
Fair value	402	4,930
Matures within one year [Member]
Matures within one year:
Amortized cost	13,508	32,554
Gross unrealized gain	210	24
Gross unrealized loss		(11)
Fair value	13,718	32,567
Matures after one year through three years: Corporate debentures [Member]
Matures within one year:
Amortized cost	63,611	91,887
Gross unrealized gain	1,815	575
Gross unrealized loss	(3)	(117)
Fair value	65,423	92,345
Matures after one year through three years: Government debentures [Member]
Matures within one year:
Amortized cost	6,145	3,030
Gross unrealized gain	79	21
Gross unrealized loss	(11)	(3)
Fair value	6,213	3,048
Matures after one year through three years [Member]
Matures within one year:
Amortized cost	69,756	94,917
Gross unrealized gain	1,894	596
Gross unrealized loss	(14)	(120)
Fair value	$ 71,636	$ 95,393

Fair Value Measurements (Details) - Schedule of investments with continuous unrealized losses - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value Measurements (Details) - Schedule of investments with continuous unrealized losses [Line Items]
Less than 12 months, Fair value	$ 6,823	$ 60,305
Less than 12 months, Unrealized losses	(14)	(130)
More than 12 months, Fair value		3,801
More than 12 months, Unrealized losses		(1)
Total, Fair value	6,823	64,106
Total, Unrealized Losses	(14)	(131)
Corporate Debentures [Member]
Fair Value Measurements (Details) - Schedule of investments with continuous unrealized losses [Line Items]
Less than 12 months, Fair value	3,821	57,753
Less than 12 months, Unrealized losses	(3)	(127)
More than 12 months, Fair value		3,801
More than 12 months, Unrealized losses		(1)
Total, Fair value	3,821	61,554
Total, Unrealized Losses	(3)	(128)
Government Debentures [Member]
Fair Value Measurements (Details) - Schedule of investments with continuous unrealized losses [Line Items]
Less than 12 months, Fair value	3,002	2,552
Less than 12 months, Unrealized losses	(11)	(3)
More than 12 months, Fair value
More than 12 months, Unrealized losses
Total, Fair value	3,002	2,552
Total, Unrealized Losses	$ (11)	$ (3)

Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value [Line Items]
Marketable securities	$ 85,354	$ 127,960
Foreign currency derivative contracts		16
Total financial assets	85,354	127,976
Level 1 [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value [Line Items]
Marketable securities
Foreign currency derivative contracts
Total financial assets
Level 2 [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value [Line Items]
Marketable securities	85,354	127,960
Foreign currency derivative contracts		16
Total financial assets	85,354	127,976
Level 3 [Member]
Fair Value Measurements (Details) - Schedule of assets and liabilities measured at fair value [Line Items]
Marketable securities
Foreign currency derivative contracts
Total financial assets

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Inventory delivered to customers	$ 10,628	$ 0

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

Dec. 31, 2020

Dec. 31, 2019

Schedule of inventories [Abstract]

Raw materials and components

$ 18,026

$ 21,402

Finished products

^[1]

34,461

16,075

Inventories

$ 52,487

$ 37,477

[1]	Including amounts of $10,628 and $0 for the years ended December 31, 2020 and 2019, 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, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation expenses	$ 3,492	$ 3,611	$ 3,900
Reduction of cost and accumulated depreciation	$ 1,621	$ 868	$ 861

Property, Plant and Equipment, Net (Details) - Schedule of property, plant and equipment - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Cost:
Property, plant and equipment, gross	$ 48,196	$ 34,250
Accumulated depreciation	(18,941)	(16,761)
Property, plant and equipment, net	29,255	17,489
Computer and peripheral equipment [Member]
Cost:
Property, plant and equipment, gross	4,720	3,748
Office furniture and equipment [Member]
Cost:
Property, plant and equipment, gross	2,233	1,818
Machinery and equipment [Member]
Cost:
Property, plant and equipment, gross	16,968	13,823
Leasehold Improvements [Member]
Cost:
Property, plant and equipment, gross	8,627	8,337
Building and land [Member]
Cost:
Property, plant and equipment, gross	$ 15,648	$ 6,524

Intangible Assets, Net (Details) - USD ($) $ in Thousands	12 Months Ended
Intangible Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expenses	$ 1,219	$ 856	$ 1,065

Intangible Assets, Net (Details) - Schedule of intangible assets - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Original amount	$ 12,730	$ 6,784
Accumulated amortization	5,509	4,290
Intangible assets, net	$ 7,221	2,494
Acquired technology [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period Years	8 years 10 days
Original amount	$ 6,682	1,566
Accumulated amortization	$ 1,424	1,066
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period Years	5 years 2 months 23 days
Original amount	$ 3,504	3,504
Accumulated amortization	$ 3,071	2,849
Non-competition agreement [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period Years	3 years 3 months 7 days
Original amount	$ 974	265
Accumulated amortization	$ 360	232
Software development costs [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period Years	3 years
Original amount	$ 1,320	1,199
Accumulated amortization	$ 404
Distribution rights [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period Years	1 year
Original amount	$ 250	250
Accumulated amortization	$ 250	$ 143

Intangible Assets, Net (Details) - Schedule of future amortization expenses $ in Thousands	Dec. 31, 2020 USD ($)
Schedule of future amortization expenses [Abstract]
2021	$ 1,613
2022	1,524
2023	993
2024	793
2025 and thereafter	2,298
Total	$ 7,221

Other Payables and Accrued Expenses (Details) - Schedule of Other Payable and Accrued Expenses - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Schedule of Other Payable and Accrued Expenses [Abstract]
Government authorities	$ 902	$ 564
Warranty provision	1,419	1,433
Provision for returns	1,759	721
Professional services	774	565
Accrued expenses	6,759	3,090
Other payables and accrued expenses	$ 11,613	$ 6,373

Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Lines of credit maximum borrowings	$ 1,100
Interest rate, description	This line of credit is unsecured and available subject to the Company maintenance of 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 0.3% to 2.3% as of December 31, 2020.
Purchase commitments	$ 45,319
Royalties percentage	2.50%
Maximum amount of royalties payment	$ 625
Royalty expense	$ 625	$ 625	$ 625
Number of banks	5
Actual guaranteed rent	$ 579

Shareholders' Equity (Details) $ / shares in Units, $ in Thousands							1 Months Ended		12 Months Ended
	Sep. 14, 2020 USD ($) $ / shares shares	Jun. 18, 2019 USD ($)	Jun. 18, 2019 USD ($) shares	Dec. 07, 2018 shares	Jan. 10, 2017 USD ($) $ / shares shares	May 01, 2016 USD ($)	Jan. 31, 2021 USD ($)	Sep. 16, 2020 USD ($) shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) $ / shares	Dec. 31, 2018 USD ($) $ / shares	Dec. 31, 2020 ₪ / shares
Shareholders' Equity (Details) [Line Items]
Ordinary shares sold (in Shares) \| shares				3,132,481				2,999,999
Net proceeds from offering									$ 161,981	$ 129,710
Ordinary shares available for future grant (in Shares) \| shares									4,265,110
Unrecognized compensation expense									$ 3,286
Weighted average vesting period									2 years 7 days
Weighted average fair value of options granted (in Dollars per share) \| $ / shares									$ 31.55	$ 14.51	$ 9.5
Fair value of options vested per share (in Dollars per share) \| $ / shares									$ 9.22
Total intrinsic value of options exercised									$ 12,698	$ 6,742	$ 11,775
Risk-free rate									0.40%
Volatility rate									52.00%
Dividend yield									0.00%
Expected term									5 years 3 months 25 days
Recognized reduction revenues									$ 5,366	$ 5,094	$ 4,576
Total unrecognized amount to be recognized as reduction in revenues									$ 109,098
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.
Unrecognized compensation expense									$ 23,736
Weighted average fair value of options granted (in Dollars per share) \| $ / shares									$ 40.93	$ 28.50	$ 17.1
Weighted average vesting period									2 years 11 months 4 days
Phantom Share Units (PSUs) [Member]
Shareholders' Equity (Details) [Line Items]
Fair value of options vested per share (in Dollars per share) \| $ / shares									$ 6,181
Master Purchase Agreement [Member]
Shareholders' Equity (Details) [Line Items]
Warrants to purchase ordinary shares (in Shares) \| shares	3,401,060				2,932,176
Exercise price (in Dollars per share) \| $ / shares	$ 59.26				$ 13.04
Payments for purchased products and services	$ 400,000				$ 150,000	$ 5,000
Class of warrant exercisable (in Shares) \| shares								2,162,463	659,736
Cashless sale (in Shares) \| shares								1,689,942
Master Purchase Agreement [Member] \| Subsequent Event [Member]
Shareholders' Equity (Details) [Line Items]
Payments for purchased products and services							$ 5,000
IPO [Member]
Shareholders' Equity (Details) [Line Items]
Ordinary shares sold (in Shares) \| shares			4,991,000
Net proceeds from offering			$ 129,710
Secondary Offering [Member]
Shareholders' Equity (Details) [Line Items]
Net proceeds from offering		$ 129,710						$ 161,981
Board of Directors Chairman [Member]
Shareholders' Equity (Details) [Line Items]
Increase in the ordinary shares reserved for issuance (in Shares) \| shares									1,379,613

Shareholders' Equity (Details) - Schedule of share option activity and related information $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) $ / shares shares
Schedule of share option activity and related information [Abstract]
Number of shares upon exercise, Outstanding, Beginning balance \| shares	1,072,777
Weighted average exercise price Outstanding, Beginning balance \| $ / shares	$ 17.17
Weighted- average remaining contractual term (in years)	7 years 8 months 23 days
Aggregate intrinsic value Outstanding, Beginning balance \| $	$ 18,170
Number of shares upon exercise, Outstanding, Ending balance \| shares	686,456
Weighted average exercise price, Outstanding, Ending balance \| $ / shares	$ 18.66
Weighted- average remaining contractual term (in years), Outstanding, Ending balance	6 years 10 months 13 days
Aggregate intrinsic value, Outstanding, Ending balance \| $	$ 48,375
Number of shares upon exercise, Exercisable \| shares	374,526
Weighted average exercise price, Exercisable \| $ / shares	$ 15.51
Weighted- average remaining contractual term (in years), Exercisable	6 years 1 month 13 days
Aggregate intrinsic value, Exercisable \| $	$ 27,574
Number of shares upon exercise, Granted \| shares	10,350
Weighted average exercise price, Granted \| $ / shares	$ 57.79
Weighted-Average Remaining Contractual Term (in years), Granted	9 years 7 months 13 days
Aggregate intrinsic value, Granted \| $
Number of shares upon exercise, Exercised \| shares	(366,133)
Weighted average exercise price, Exercised \| $ / shares	$ 15.46
Weighted-Average Remaining Contractual Term (in years), Exercised
Aggregate intrinsic value, Exercised \| $
Number of shares upon exercise, Forfeited \| shares	(30,538)
Weighted average exercise price, Forfeited \| $ / shares	$ 18.09
Weighted-Average Remaining Contractual Term (in years), Forfeited
Aggregate intrinsic value, Forfeited \| $

Shareholders' Equity (Details) - Schedule of options outstanding classified by exercise price	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding, Number outstanding (in Shares) \| shares	686,456
Options exercisable, Number outstanding (in Shares) \| shares	374,526
Exercise Price 2.07 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	$ 2.07
Options outstanding, Number outstanding (in Shares) \| shares	25,066
Options outstanding, Weighted average exercise price	$ 2.07
Options outstanding, Weighted average remaining contractual term (in years)	3 years 10 months 9 days
Options exercisable, Number outstanding (in Shares) \| shares	25,066
Options exercisable, Weighted average remaining contractual term (in years)	3 years 10 months 9 days
Options exercisable, Weighted average exercise price	$ 2.07
Exercise Price 9.97 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	$ 9.97
Options outstanding, Number outstanding (in Shares) \| shares	56,214
Options outstanding, Weighted average exercise price	$ 9.97
Options outstanding, Weighted average remaining contractual term (in years)	3 years 10 months 9 days
Options exercisable, Number outstanding (in Shares) \| shares	56,214
Options exercisable, Weighted average remaining contractual term (in years)	3 years 10 months 9 days
Options exercisable, Weighted average exercise price	$ 9.97
Exercise Price 10.05-11.90 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding, Number outstanding (in Shares) \| shares	47,527
Options outstanding, Weighted average exercise price	$ 10.32
Options outstanding, Weighted average remaining contractual term (in years)	5 years 6 months 29 days
Options exercisable, Number outstanding (in Shares) \| shares	47,527
Options exercisable, Weighted average remaining contractual term (in years)	5 years 6 months 29 days
Options exercisable, Weighted average exercise price	$ 10.32
Exercise Price 10.05-11.90 [Member] \| Minimum [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	10.05
Exercise Price 10.05-11.90 [Member] \| Maximum [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	$ 11.90
Exercise Price Range14.32-15.80 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding, Number outstanding (in Shares) \| shares	76,004
Options outstanding, Weighted average exercise price	$ 15.12
Options outstanding, Weighted average remaining contractual term (in years)	5 years 9 months 25 days
Options exercisable, Number outstanding (in Shares) \| shares	56,005
Options exercisable, Weighted average remaining contractual term (in years)	5 years 5 months 12 days
Options exercisable, Weighted average exercise price	$ 14.87
Exercise Price Range14.32-15.80 [Member] \| Minimum [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	14.32
Exercise Price Range14.32-15.80 [Member] \| Maximum [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	$ 15.80
Exercise Price Range 16.15-18.05 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding, Number outstanding (in Shares) \| shares	106,009
Options outstanding, Weighted average exercise price	$ 17.99
Options outstanding, Weighted average remaining contractual term (in years)	6 years 7 months 17 days
Options exercisable, Number outstanding (in Shares) \| shares	60,168
Options exercisable, Weighted average remaining contractual term (in years)	6 years 7 months 9 days
Options exercisable, Weighted average exercise price	$ 18.05
Exercise Price Range 16.15-18.05 [Member] \| Minimum [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	16.15
Exercise Price Range 16.15-18.05 [Member] \| Maximum [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	$ 18.05
Exercise Price 18.80-19.05 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding, Number outstanding (in Shares) \| shares	224,478
Options outstanding, Weighted average exercise price	$ 18.81
Options outstanding, Weighted average remaining contractual term (in years)	7 years 6 months 18 days
Options exercisable, Number outstanding (in Shares) \| shares	87,852
Options exercisable, Weighted average remaining contractual term (in years)	7 years 5 months 15 days
Options exercisable, Weighted average exercise price	$ 18.83
Exercise Price 18.80-19.05 [Member] \| Minimum [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	18.80
Exercise Price 18.80-19.05 [Member] \| Maximum [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	$ 19.05
Exercise Price Range 22.40-57.79 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding, Number outstanding (in Shares) \| shares	151,158
Options outstanding, Weighted average exercise price	$ 29.29
Options outstanding, Weighted average remaining contractual term (in years)	9 years 2 months 15 days
Options exercisable, Number outstanding (in Shares) \| shares	41,694
Options exercisable, Weighted average remaining contractual term (in years)	8 years 6 months 3 days
Options exercisable, Weighted average exercise price	$ 27.15
Exercise Price Range 22.40-57.79 [Member] \| Minimum [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	22.40
Exercise Price Range 22.40-57.79 [Member] \| Maximum [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price	$ 57.79

Shareholders' Equity (Details) - Schedule of RSU’s activity - RSUs [Member]	12 Months Ended
	Dec. 31, 2020 shares
Shareholders' Equity (Details) - Schedule of RSU’s activity [Line Items]
Unvested at beginning of year	678,303
Granted	455,501
Vested	(248,199)
Forfeited	(51,284)
Unvested at the end of the year	834,321

Shareholders' Equity (Details) - Schedule of share based compensation expense - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Shareholders' Equity (Details) - Schedule of share based compensation expense [Line Items]
Total share-based compensation expense	$ 10,036	$ 6,614	$ 5,546
Cost of products [Member]
Shareholders' Equity (Details) - Schedule of share based compensation expense [Line Items]
Total share-based compensation expense	1,056	632	494
Cost of services [Member]
Shareholders' Equity (Details) - Schedule of share based compensation expense [Line Items]
Total share-based compensation expense	771	520	398
Research and development, net [Member]
Shareholders' Equity (Details) - Schedule of share based compensation expense [Line Items]
Total share-based compensation expense	1,712	1,294	1,022
Sales and marketing [Member]
Shareholders' Equity (Details) - Schedule of share based compensation expense [Line Items]
Total share-based compensation expense	2,893	1,689	1,240
General and administrative [Member]
Shareholders' Equity (Details) - Schedule of share based compensation expense [Line Items]
Total share-based compensation expense	$ 3,604	$ 2,479	$ 2,392

Earnings (Losses) Per Share (Details) - Schedule of basic and diluted earnings (losses) per share - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Numerator for basic and diluted earnings (losses) per share:
Net income (loss) (in Dollars)	$ (4,783)	$ 10,167	$ 12,429
Weighted average ordinary shares outstanding:
Denominator for basic earnings (losses) per share	42,286,275	38,079,394	34,521,352
Effect of dilutive securities:
Employee share options, RSUs, PSUs and Warrants		1,214,721	842,352
Denominator for diluted earnings (losses) per share	42,286,275	39,294,115	35,363,704
Basic earnings (losses) per share (in Dollars per share)	$ (0.11)	$ 0.27	$ 0.36
Diluted earnings (losses) per share (in Dollars per share)	$ (0.11)	$ 0.26	$ 0.35

- Definition

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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+ Details

Accumulated Other Comprehensive Income (Loss) (Details) - Schedule of accumulated balances other comprehensive income (Loss) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 843
Other comprehensive income before reclassifications	2,711
Amounts reclassified from accumulated other comprehensive income	(821)
Net current period other comprehensive income	1,890
Ending Balance	2,733
Unrealized Gains (losses) on marketable securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	452
Other comprehensive income before reclassifications	1,984
Amounts reclassified from accumulated other comprehensive income	(503)
Net current period other comprehensive income	1,481
Ending Balance	1,933
Unrealized Gains (losses) on cash flow hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	9
Other comprehensive income before reclassifications	309
Amounts reclassified from accumulated other comprehensive income	(318)
Net current period other comprehensive income	(9)
Ending Balance	0
Foreign currency translation adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	382
Other comprehensive income before reclassifications	418
Amounts reclassified from accumulated other comprehensive income
Net current period other comprehensive income	418
Ending Balance	$ 800

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure Text Block [Abstract]
Measurement of operating lease liabilities	$ 4,635	$ 3,910
Leases, description	The Company’s operating lease agreements have remaining lease terms ranging from 1 year to 10 years, including agreements with options to extend the leases for up to 5 years.
Weighted average remaining lease term	8 years 8 months 12 days
Weighted average discount rate	3.00%

Leases (Details) - Schedule of lease expense - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Schedule of lease expense [Abstract]
Operating lease	$ 4,544	$ 3,857
Short-term lease	34	131
Total lease expense	$ 4,578	$ 3,988

Leases (Details) - Schedule of future maturities of operating lease liabilities $ in Thousands	Dec. 31, 2020 USD ($)
Schedule of future maturities of operating lease liabilities [Abstract]
2021	$ 4,506
2022	3,544
2023	2,604
2024	2,458
2025 and after	11,812
Total operating lease payments	24,924
Less - imputed interest	2,279
Present value of lease liabilities	$ 22,645

Taxes on Income (Details) $ in Thousands, ₪ in Millions	12 Months Ended
Taxes on Income (Details) $ in Thousands, ₪ in Millions	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 ILS (₪)
Taxes on Income (Details) [Line Items]
Israeli corporate income tax rate	23.00%	23.00%	23.00%
Limitation of tax benefits, description	The Israeli companies began to utilize such tax benefits in 2010.
Tax-exempt income	$ 131,471
Reduced corporate tax rate income	$ 30,300
Subject to a tax rate	20.00%			7.50%
Percentage of corporate tax				12.00%
Deferred Taxes, Business Combination, Valuation Allowance, Available to Reduce Goodwill and Intangible Assets (in New Shekels) \| ₪				₪ 200
Undistributed earnings of foreign subsidiaries	$ 12,969
Corporate tax rate	1,074
Carryforward operating tax losses	73,925
Unrecognized tax benefit	4,357	$ 1,880
Unrecognized tax benefits derived from interest and indexation expenses	5	51	$ 115
Uncertain tax positions	$ 0	$ 237
Minimum [Member]
Taxes on Income (Details) [Line Items]
Subject to a tax rate	20.00%
Preferred Technological Enterprises [Member]
Taxes on Income (Details) [Line Items]
Subject to a tax rate	7.50%			12.00%
Israeli [Member]
Taxes on Income (Details) [Line Items]
Subject to a tax rate	16.00%
Israeli [Member] \| Preferred Technological Enterprises [Member]
Taxes on Income (Details) [Line Items]
Subject to a tax rate	12.00%

Taxes on Income (Details) - Schedule of deferred tax assets and liabilities - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Schedule of deferred tax assets and liabilities [Abstract]
Carryforward tax losses	$ 1,688	$ 3,282
Share-based compensation	695	1,569
Research and development expenses	1,933	1,468
Other temporary differences	1,840	1,471
Deferred tax assets	6,156	7,790
Deferred tax liability due to intangible assets	(1,060)	(9)
Deferred tax assets, net	$ 5,096	$ 7,781

Taxes on Income (Details) - Schedule of income (loss) before income tax - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of income (loss) before income tax [Abstract]
Domestic	$ (6,926)	$ 7,343	$ 4,458
Foreign	3,695	3,568	2,579
Income (loss) before income taxes	$ (3,231)	$ 10,911	$ 7,037

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 32
-Subparagraph (c)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=68072869&loc=d3e41242-110953

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-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

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-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 942
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Taxes on Income (Details) - Schedule of taxes on income (tax benefits) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of taxes on income (tax benefits) [Abstract]
Current taxes	$ 210	$ 677	$ 1,088
Deferred taxes	1,342	67	(6,480)
Total	1,552	744	(5,392)
Domestic	1,360	(337)	(6,050)
Foreign	192	1,081	658
Total	$ 1,552	$ 744	$ (5,392)

Taxes on Income (Details) - Schedule of taxes on income (tax benefits), domestic and foreign - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Domestic taxes:
Current taxes	$ 16	$ (208)	$ 333
Deferred taxes	1,344	(129)	(6,383)
Domestic taxes, total	1,360	(337)	(6,050)
Foreign taxes:
Current taxes	194	885	755
Deferred taxes	(2)	196	(97)
Foreign taxes, total	192	1,081	658
Taxes on income	$ 1,552	$ 744	$ (5,392)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Taxes on Income (Details) - Schedule of unrecognized tax benefits - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Schedule of unrecognized tax benefits [Abstract]

Beginning balance

$ 3,039

^[1]

$ 2,240

1,318

662

Cumulative translation adjustments and other

Ending balance

^[1]

$ 4,357

$ 3,039

[1]	As of December 31, 2020, and 2019 unrecognized tax benefit in the amount of $4,357 and $1,880 were presented as a reduction from deferred taxes.

Taxes on Income (Details) - Schedule of effective income tax rate reconciliation - USD ($)
$ / shares in Units, $ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Schedule of effective income tax rate reconciliation [Abstract]

Income (loss) before taxes, as reported in the consolidated statements of operations

$ (3,231)

$ 10,911

$ 7,037

Theoretical tax expense (benefit) at the Israeli statutory tax rate

(741)

2,510

1,618

Tax adjustment in respect of different tax rate of foreign subsidiaries

(94)

151

Non-deductible expenses and other permanent differences

(278)

Deferred taxes on losses and other temporary differences for which valuation allowance was provided, net

(5,503)

Stock based compensation

1,485

1,247

1,161

Change in tax rate

Beneficiary enterprise benefits

^[1]

(68)

(3,935)

(3,469)

Increase in other uncertain tax positions

1,318

713

765

Other

(70)

(19)

(71)

Actual tax expense (benefit)

$ 1,552

$ 744

$ (5,392)

Basic and diluted earnings per share amounts of the benefit resulting from the “Beneficiary Enterprise” status (in Dollars per share)

^[1]

$ 0.00

$ 0.10

[1]	Basic and diluted earnings per share amounts of the benefit resulting from the “Beneficiary Enterprise” status

Geographic Information (Details)	12 Months Ended
Geographic Information (Details)	Dec. 31, 2020
Geographic Information (Details) [Line Items]
Number of segment	1
Total Revenues [Member]
Geographic Information (Details) [Line Items]
Concentration credit risk, percentage	10.00%

Geographic Information (Details) - Schedule of long-lived assets by geographic region - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Geographic Information (Details) - Schedule of long-lived assets by geographic region [Line Items]
Long-lived assets	$ 29,955	$ 17,489
U.S [Member]
Geographic Information (Details) - Schedule of long-lived assets by geographic region [Line Items]
Long-lived assets	1,676	1,782
Israel [Member]
Geographic Information (Details) - Schedule of long-lived assets by geographic region [Line Items]
Long-lived assets	27,073	15,253
EMEA [Member]
Geographic Information (Details) - Schedule of long-lived assets by geographic region [Line Items]
Long-lived assets	352	258
Asia Pacific [Member]
Geographic Information (Details) - Schedule of long-lived assets by geographic region [Line Items]
Long-lived assets	$ 154	$ 196

Geographic Information (Details) - Schedule of major customers’ data as a percentage	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Customer A [Member]
Revenue, Major Customer [Line Items]
Percentage of revenue by major customers	0.00%	0.00%	15.00%
Customer B [Member]
Revenue, Major Customer [Line Items]
Percentage of revenue by major customers	11.00%	12.00%	17.00%

Selected Statements of Operations Data (Details) - Schedule of financial income, net - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financial income:
Interest on bank deposits and other	$ 2,238	$ 2,535	$ 406
Exchange rate differences, net			87
Realized gain on sale of marketable securities, net	503	271
Interest on marketable securities	2,870	1,975	2,107
Amortization of premium and accretion of discount on marketable securities, net		112
Total financial income	5,611	4,893	2,600
Financial expenses:
Bank charges	(357)	(405)	(299)
Exchange rate differences, net	(1,361)	(1,175)
Realized loss on sale of marketable securities, net			(480)
Amortization of premium and accretion of discount on marketable securities, net	(395)		(388)
Total financial expenses	(2,113)	(1,580)	(1,167)
Total financial income, net:	$ 3,498	$ 3,313	$ 1,433

Balances and Transactions with Related Parties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fritz Companies Israel T. Ltd. [Member]
Balances and Transactions with Related Parties (Details) [Line Items]
Logistic service fees	$ 4,096	$ 3,762	$ 2,673
Trade payables balances due to related party	1,546	934
Accord Insurance Agency Ltd. [Member]
Balances and Transactions with Related Parties (Details) [Line Items]
Total premium	838	843	248
Priority Software Ltd.[Member]
Balances and Transactions with Related Parties (Details) [Line Items]
Trade payables balances due to related party	65	22
Maintenance fees	$ 100	$ 109	$ 76
Tritone Technologies Ltd. [Member]
Balances and Transactions with Related Parties (Details) [Line Items]
Lease terms, description	the sublease of 192 square meters in Rosh Ha’Ayin. The term of the lease is 24 months until September 12, 2022
Sublease per month	$ 2
Trade receivable balance due from related part	$ 3