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L3 12 Ha’Amal St. Rosh-Ha’Ayin 4809246 IL Alon Rozner 12 Ha’Amal St. Rosh-Ha’Ayin 4809246 IL +972 3 908-5800 +972 3 908-0280 Ordinary shares, par value NIS 0.01 per share KRNT NASDAQ 45988613 Yes No Yes Yes Large Accelerated Filer false false 125777000 40743000 224804000 95000000 13718000 32567000 51566000 40510000 52487000 37477000 9178000 6985000 477530000 253282000 71636000 95393000 395000 356000 337000 301000 5096000 7781000 29255000 17489000 21053000 22806000 7221000 2494000 16466000 5564000 151459000 152184000 628989000 405466000 32016000 23449000 15022000 9165000 27019000 2688000 3957000 3902000 11613000 6373000 89627000 45577000 1214000 1035000 18688000 19231000 443000 1320000 20345000 21586000 0.01 0.01 200000000 200000000 45988613 45988613 40684340 40684340 121000 105000 488208000 304617000 2733000 843000 27955000 32738000 519017000 338303000 628989000 405466000 164918000 156594000 125729000 28413000 23272000 16644000 193331000 179866000 142373000 75040000 71057000 53303000 30490000 26733000 19201000 105530000 97790000 72504000 87801000 82076000 69869000 31464000 22407000 21912000 36405000 33573000 25596000 26661000 18498000 16436000 321000 94530000 74478000 64265000 -6729000 7598000 5604000 -3498000 -3313000 -1433000 -3231000 10911000 7037000 1552000 744000 -5392000 -4783000 10167000 12429000 -0.11 0.27 0.36 -0.11 0.26 0.35 -4783000 10167000 12429000 158000 93000 -72000 1946000 1140000 -848000 -38000 -20000 36000 465000 251000 -441000 1481000 889000 -407000 23000 10000 -14000 285000 130000 -223000 -24000 -2000 7000 294000 28000 -85000 -9000 102000 -138000 418000 90000 6000 -1890000 -1081000 539000 -2893000 11248000 11890000 34124223 86000 140170000 301000 10142000 150699000 940977 3000 6422000 6425000 5546000 5546000 4576000 4576000 -539000 -539000 12429000 12429000 35065200 89000 156714000 -238000 22571000 179136000 669000 4991000 14000 130296000 130310000 628140 2000 5899000 5901000 6614000 6614000 5094000 5094000 1081000 1081000 10167000 32738000 40684340 105000 304617000 843000 32738000 338303000 739000 4689941 14000 162531000 162545000 614332 2000 5658000 5660000 10036000 10036000 5366000 5366000 1890000 1890000 -4783000 -4783000 45988613 121000 488208000 2733000 27955000 519017000 -4783000 10167000 12429000 4711000 4441000 4965000 5366000 5094000 4576000 10036000 6614000 5546000 -395000 112000 -388000 503000 271000 -480000 9529000 18617000 -1069000 15827000 4183000 -4037000 -54000 -386000 121000 2333000 1204000 3135000 -2177000 5000 6665000 56000 571000 6864000 6032000 4394000 6366000 1423000 1621000 24286000 -921000 1981000 -1321000 -898000 4822000 1708000 548000 143000 26000 -1000 -877000 -136000 867000 -139000 -23000 362000 -212000 -389000 32410000 11004000 33368000 13489000 5416000 7294000 121000 1337000 4000 3000 15535000 4715000 129804000 90000000 500000 -58532000 -34497000 -40635000 21706000 3000000 6564000 35923000 115529000 22723000 -114630000 -179497000 16682000 161981000 129710000 5660000 5901000 6425000 596000 177000 -303000 -900000 167045000 135131000 5525000 209000 -27000 -72000 85034000 -33389000 55503000 40743000 74132000 18629000 125777000 40743000 74132000 1028000 353000 1797000 1904000 920000 222000 115000 990000 591000 2929000 9640000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.75in; text-align: left">NOTE 1:-</td><td style="text-align: justify">GENERAL</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">a.</td><td style="text-align: justify">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.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">b.</td><td style="text-align: justify">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.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">c.</td><td style="text-align: justify">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.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">d.</td><td style="text-align: justify">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.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">e.</td><td style="text-align: justify">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).</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">f.</td><td style="text-align: justify">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.</td></tr></table> 4991000 129710000 1 16884000 4689941 161981000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.75in; text-align: left">NOTE 2:-</td><td style="text-align: justify">SIGNIFICANT ACCOUNTING POLICIES</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; ">The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">a.</td><td style="text-align: justify">Use of estimates:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif">On an ongoing basis, the Company’s management evaluates estimates, including those related to <span>intangible assets and goodwill</span>, 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<span>.</span> 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.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">b.</td><td style="text-align: justify">Financial statements in United States dollars:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">c.</td><td style="text-align: justify">Principles of consolidation:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">  </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">d.</td><td style="text-align: justify">Cash equivalents:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three months or less, at acquisition.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in; "> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">e.</td><td style="text-align: justify">Short-term bank deposits:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">f.</td><td style="text-align: justify">Marketable securities:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34.65pt; text-align: justify; text-indent: 0.5in; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; ">  </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">g.</td><td style="text-align: justify">Inventories:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Cost of inventories is determined as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Raw materials and components - on the basis of weighted average cost.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Finished products - on the basis of average costs of materials, and other direct manufacturing cost.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"><br/> Inventory write offs have been provided to cover risks arising from slow-moving items, technological obsolescence and excess inventories according to revenue forecasts.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">h.</td><td style="text-align: justify">Property, plant and equipment:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; width: 90%; text-align: justify"> </td> <td style="padding-bottom: 1.5pt; width: 1%; text-align: justify"><b> </b></td> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; width: 9%; text-align: center"><b>%</b></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Office furniture and equipment</td> <td style="text-align: justify"> </td> <td style="text-align: center">7 - 20</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Computer and peripheral equipment </td> <td style="text-align: justify"> </td> <td style="text-align: center">33</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Machinery and equipment</td> <td style="text-align: justify"> </td> <td style="text-align: center">7 - 33</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Leasehold improvements</td> <td style="text-align: justify"> </td> <td style="text-align: center"><div style="-sec-ix-hidden: hidden-fact-46">*)</div></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Building and land</td> <td style="text-align: justify"> </td> <td style="text-align: center"><div style="-sec-ix-hidden: hidden-fact-47">**)</div></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in">*)</td><td style="text-align: justify">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.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in">**)</td><td style="text-align: justify">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.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">  </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">i.</td><td style="text-align: justify">Business combinations:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">j.</td><td style="text-align: justify">Goodwill and other intangible assets:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 1in"/><td style="width: 0.25in">1.</td><td style="text-align: justify">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.</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 1in"/><td style="width: 0.25in">2.</td><td style="text-align: justify">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.</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">During the years ended December 31, 2020, 2019 and 2018, no impairment of goodwill has been identified.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">k.</td><td style="text-align: justify">Impairment of long-lived assets and intangible assets subject to amortization:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">During the years ended December 31, 2020, 2019 and 2018, no impairment losses were recorded.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">l.</td><td style="text-align: justify">Revenue recognition:</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Revenue disaggregated by revenue source consists of the following:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Year ended <br/> December 31,</td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font: 10pt Times New Roman, Times, Serif; text-align: justify">Systems</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">87,769</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">91,353</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">65,825</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Ink and consumables</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">77,149</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">65,241</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">59,904</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Services</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">17,521</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">16,884</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">12,377</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt">Service contracts and software subscriptions</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">10,892</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">6,388</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">4,267</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 4pt">Total revenue</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">193,331</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">179,866</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">142,373</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The following table presents revenue disaggregated by geography based on customer location:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Year ended <br/> December 31,</td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-size: 10pt; text-align: justify">US</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">124,375</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">100,457</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">77,652</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">EMEA</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">45,859</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">48,810</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">45,195</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Asia Pacific</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">14,211</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">22,101</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">15,572</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt">Other</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">8,886</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">8,498</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">3,954</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 4pt">Total revenue</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">193,331</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">179,866</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">142,373</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The following table represents the remaining performance obligations as of December 31, 2020, which are expected to be satisfied and recognized in future periods:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023 and<br/> thereafter</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-size: 10pt; text-align: justify">Products</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">25,178</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-48">-</div></td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-49">-</div></td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Services</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">5,529</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">1,209</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">344</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify; padding-bottom: 4pt">Total</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">30,707</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">1,209</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">344</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">m.</td><td style="text-align: justify">Shipping and Handling:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">n.</td><td style="text-align: justify">Cost of revenues:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"><span style="font-weight: normal">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.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">o.</td><td style="text-align: justify">Warranty costs:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">  </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The followings are the changes in the liability for product warranty from January 1, 2019 to December 31, 2020:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; font-size: 10pt; text-align: justify">Balance at January 1, 2019</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">2,237</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Provision for warranties issued during the year</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">2,977</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Reduction for payments and costs to satisfy claims</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(3,600</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Balance at December 31, 2019</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">1,614</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Provision for warranties issued during the year</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">3,287</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Reduction for payments and costs to satisfy claims</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(3,251</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 4pt">Balance at December 31, 2020</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">1,650</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">p.</td><td style="text-align: justify">Research and development expenses, net:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">q.</td><td style="text-align: justify">Internal use software:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">r.</td><td style="text-align: justify">Restructuring:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">s.</td><td style="text-align: justify">Accounting for share-based compensation:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Year ended </b><br/> <b>December 31,</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-size: 10pt; text-align: justify">Suboptimal exercise multiple</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 9%; font-size: 10pt; text-align: right">1.5</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 9%; font-size: 10pt; text-align: right">1.0-1.5</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 9%; font-size: 10pt; text-align: right">1.0-1.5</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Risk free interest rate</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">0.1%-0.5</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1.5%-2.7</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">2.0%-3.1</td><td style="font-size: 10pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Volatility</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">52</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">47%-48</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">47%-51</td><td style="font-size: 10pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Dividend yield</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">0</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">0</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">0</td><td style="font-size: 10pt; text-align: left">%</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; "><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">t.</td><td style="text-align: justify">Derivatives and hedging:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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”.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 1in"/><td style="width: 0.25in">1.</td><td style="text-align: justify">Derivative instruments notional amounts:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 78pt; text-align: justify"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">The following table summarizes the notional amounts for hedged items, when transactions are designated as hedge accounting:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 76%; font-size: 10pt; text-align: justify"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 9%; font-size: 10pt; text-align: right"> </td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 9%; font-size: 10pt; text-align: right"> </td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 4pt">Cash flow hedge</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-50">-</div></td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">6,399</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 78pt; text-align: justify"><b> </b></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 1in"/><td style="width: 0.25in">2.</td><td style="text-align: justify">Derivative instrument outstanding:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 106.35pt; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 106.35pt; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 1in"/><td style="width: 0.25in">3.</td><td style="text-align: justify">Derivative instrument gains and losses</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 106.35pt; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 106.35pt; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">u.</td><td style="text-align: justify">Advertising:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">v.</td><td style="text-align: justify">Income taxes:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in; "><b> </b></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">w.</td><td style="text-align: justify">Concentrations of credit risks:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">x.</td><td style="text-align: justify">Severance pay:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"><span>Severance expenses for the years ended December 31, </span>2020, 2019 and 2018 <span>were $2,250, $1,808 and $1,483 respectively.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">y.</td><td style="text-align: justify">Fair value of financial instruments:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; ">The hierarchy is broken down into three levels based on the inputs as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; "> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 1in"> </td> <td style="width: 0.6in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1 -</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Valuations based on quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company can access at the measurement date.</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 -</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td style="padding-bottom: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3 -</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Valuations based on inputs that are unobservable and significant to the overall fair value measurement.</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; ">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">z.</td><td style="text-align: justify">Comprehensive income:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">aa.</td><td style="text-align: justify">Basic and diluted earnings per share:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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”.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">bb.</td><td style="text-align: justify">Recently adopted accounting standard:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in"><span style="font-weight: normal"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">a.</td><td style="text-align: justify">Use of estimates:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"><span style="font-family: Times New Roman, Times, Serif">On an ongoing basis, the Company’s management evaluates estimates, including those related to <span>intangible assets and goodwill</span>, 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<span>.</span> 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.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">b.</td><td style="text-align: justify">Financial statements in United States dollars:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">c.</td><td style="text-align: justify">Principles of consolidation:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">  </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">d.</td><td style="text-align: justify">Cash equivalents:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three months or less, at acquisition.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in; "> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">e.</td><td style="text-align: justify">Short-term bank deposits:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p> original maturity of more than three months but less than one year from the date of acquisition. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">f.</td><td style="text-align: justify">Marketable securities:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34.65pt; text-align: justify; text-indent: 0.5in; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; ">  </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">g.</td><td style="text-align: justify">Inventories:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Cost of inventories is determined as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Raw materials and components - on the basis of weighted average cost.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Finished products - on the basis of average costs of materials, and other direct manufacturing cost.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"><br/> Inventory write offs have been provided to cover risks arising from slow-moving items, technological obsolescence and excess inventories according to revenue forecasts.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p> 5000000 2624000 1759000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">h.</td><td style="text-align: justify">Property, plant and equipment:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; width: 90%; text-align: justify"> </td> <td style="padding-bottom: 1.5pt; width: 1%; text-align: justify"><b> </b></td> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; width: 9%; text-align: center"><b>%</b></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Office furniture and equipment</td> <td style="text-align: justify"> </td> <td style="text-align: center">7 - 20</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Computer and peripheral equipment </td> <td style="text-align: justify"> </td> <td style="text-align: center">33</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Machinery and equipment</td> <td style="text-align: justify"> </td> <td style="text-align: center">7 - 33</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Leasehold improvements</td> <td style="text-align: justify"> </td> <td style="text-align: center"><div style="-sec-ix-hidden: hidden-fact-46">*)</div></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Building and land</td> <td style="text-align: justify"> </td> <td style="text-align: center"><div style="-sec-ix-hidden: hidden-fact-47">**)</div></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in">*)</td><td style="text-align: justify">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.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in">**)</td><td style="text-align: justify">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.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">  </p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; width: 90%; text-align: justify"> </td> <td style="padding-bottom: 1.5pt; width: 1%; text-align: justify"><b> </b></td> <td style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; width: 9%; text-align: center"><b>%</b></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Office furniture and equipment</td> <td style="text-align: justify"> </td> <td style="text-align: center">7 - 20</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Computer and peripheral equipment </td> <td style="text-align: justify"> </td> <td style="text-align: center">33</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Machinery and equipment</td> <td style="text-align: justify"> </td> <td style="text-align: center">7 - 33</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Leasehold improvements</td> <td style="text-align: justify"> </td> <td style="text-align: center"><div style="-sec-ix-hidden: hidden-fact-46">*)</div></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Building and land</td> <td style="text-align: justify"> </td> <td style="text-align: center"><div style="-sec-ix-hidden: hidden-fact-47">**)</div></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in">*)</td><td style="text-align: justify">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.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in">**)</td><td style="text-align: justify">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.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">  </p> 0.07 0.20 0.33 0.07 0.33 P98Y <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">i.</td><td style="text-align: justify">Business combinations:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">j.</td><td style="text-align: justify">Goodwill and other intangible assets:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 1in"/><td style="width: 0.25in">1.</td><td style="text-align: justify">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.</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 1in"/><td style="width: 0.25in">2.</td><td style="text-align: justify">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.</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">During the years ended December 31, 2020, 2019 and 2018, no impairment of goodwill has been identified.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">k.</td><td style="text-align: justify">Impairment of long-lived assets and intangible assets subject to amortization:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">During the years ended December 31, 2020, 2019 and 2018, no impairment losses were recorded.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">l.</td><td style="text-align: justify">Revenue recognition:</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Revenue disaggregated by revenue source consists of the following:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Year ended <br/> December 31,</td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font: 10pt Times New Roman, Times, Serif; text-align: justify">Systems</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">87,769</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">91,353</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">65,825</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Ink and consumables</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">77,149</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">65,241</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">59,904</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Services</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">17,521</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">16,884</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">12,377</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt">Service contracts and software subscriptions</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">10,892</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">6,388</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">4,267</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 4pt">Total revenue</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">193,331</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">179,866</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">142,373</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The following table presents revenue disaggregated by geography based on customer location:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Year ended <br/> December 31,</td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-size: 10pt; text-align: justify">US</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">124,375</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">100,457</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">77,652</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">EMEA</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">45,859</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">48,810</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">45,195</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Asia Pacific</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">14,211</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">22,101</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">15,572</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt">Other</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">8,886</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">8,498</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">3,954</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 4pt">Total revenue</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">193,331</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">179,866</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">142,373</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The following table represents the remaining performance obligations as of December 31, 2020, which are expected to be satisfied and recognized in future periods:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023 and<br/> thereafter</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-size: 10pt; text-align: justify">Products</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">25,178</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-48">-</div></td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-49">-</div></td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Services</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">5,529</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">1,209</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">344</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify; padding-bottom: 4pt">Total</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">30,707</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">1,209</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">344</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p> 1759000 721000 27156000 2867000 2404000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Year ended <br/> December 31,</td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font: 10pt Times New Roman, Times, Serif; text-align: justify">Systems</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">87,769</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">91,353</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">65,825</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Ink and consumables</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">77,149</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">65,241</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">59,904</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Services</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">17,521</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">16,884</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">12,377</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt">Service contracts and software subscriptions</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">10,892</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">6,388</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">4,267</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 4pt">Total revenue</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">193,331</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">179,866</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">142,373</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"> </p> 87769000 91353000 65825000 77149000 65241000 59904000 17521000 16884000 12377000 10892000 6388000 4267000 193331000 179866000 142373000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Year ended <br/> December 31,</td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-size: 10pt; text-align: justify">US</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">124,375</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">100,457</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">77,652</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">EMEA</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">45,859</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">48,810</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">45,195</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Asia Pacific</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">14,211</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">22,101</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">15,572</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt">Other</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">8,886</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">8,498</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">3,954</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 4pt">Total revenue</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">193,331</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">179,866</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">142,373</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p> 124375000 100457000 77652000 45859000 48810000 45195000 14211000 22101000 15572000 8886000 8498000 3954000 193331000 179866000 142373000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023 and<br/> thereafter</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-size: 10pt; text-align: justify">Products</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">25,178</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-48">-</div></td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-49">-</div></td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Services</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">5,529</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">1,209</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">344</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify; padding-bottom: 4pt">Total</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">30,707</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">1,209</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">344</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p> 25178000 5529000 1209000 344000 30707000 1209000 344000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">m.</td><td style="text-align: justify">Shipping and Handling:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p> 3450000 1639000 1702000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">n.</td><td style="text-align: justify">Cost of revenues:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"><span style="font-weight: normal">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.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">o.</td><td style="text-align: justify">Warranty costs:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">  </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The followings are the changes in the liability for product warranty from January 1, 2019 to December 31, 2020:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; font-size: 10pt; text-align: justify">Balance at January 1, 2019</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">2,237</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Provision for warranties issued during the year</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">2,977</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Reduction for payments and costs to satisfy claims</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(3,600</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Balance at December 31, 2019</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">1,614</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Provision for warranties issued during the year</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">3,287</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Reduction for payments and costs to satisfy claims</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(3,251</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 4pt">Balance at December 31, 2020</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">1,650</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; font-size: 10pt; text-align: justify">Balance at January 1, 2019</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">2,237</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Provision for warranties issued during the year</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">2,977</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Reduction for payments and costs to satisfy claims</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(3,600</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Balance at December 31, 2019</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">1,614</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Provision for warranties issued during the year</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">3,287</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Reduction for payments and costs to satisfy claims</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(3,251</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 4pt">Balance at December 31, 2020</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">1,650</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p> 2237000 2977000 3600000 1614000 3287000 3251000 1650000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">p.</td><td style="text-align: justify">Research and development expenses, net:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">q.</td><td style="text-align: justify">Internal use software:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">r.</td><td style="text-align: justify">Restructuring:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">s.</td><td style="text-align: justify">Accounting for share-based compensation:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Year ended </b><br/> <b>December 31,</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-size: 10pt; text-align: justify">Suboptimal exercise multiple</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 9%; font-size: 10pt; text-align: right">1.5</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 9%; font-size: 10pt; text-align: right">1.0-1.5</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 9%; font-size: 10pt; text-align: right">1.0-1.5</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Risk free interest rate</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">0.1%-0.5</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1.5%-2.7</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">2.0%-3.1</td><td style="font-size: 10pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Volatility</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">52</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">47%-48</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">47%-51</td><td style="font-size: 10pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Dividend yield</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">0</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">0</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">0</td><td style="font-size: 10pt; text-align: left">%</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; "><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="10" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Year ended </b><br/> <b>December 31,</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-size: 10pt; text-align: justify">Suboptimal exercise multiple</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 9%; font-size: 10pt; text-align: right">1.5</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 9%; font-size: 10pt; text-align: right">1.0-1.5</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 9%; font-size: 10pt; text-align: right">1.0-1.5</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Risk free interest rate</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">0.1%-0.5</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1.5%-2.7</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">2.0%-3.1</td><td style="font-size: 10pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Volatility</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">52</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">47%-48</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">47%-51</td><td style="font-size: 10pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Dividend yield</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">0</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">0</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">0</td><td style="font-size: 10pt; text-align: left">%</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; "><b> </b></p> 1.5 1.0 1.5 1.0 1.5 0.001 0.005 0.015 0.027 0.020 0.031 0.52 0.47 0.48 0.47 0.51 0 0 0 1.50 1 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">t.</td><td style="text-align: justify">Derivatives and hedging:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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”.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 1in"/><td style="width: 0.25in">1.</td><td style="text-align: justify">Derivative instruments notional amounts:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 78pt; text-align: justify"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">The following table summarizes the notional amounts for hedged items, when transactions are designated as hedge accounting:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 76%; font-size: 10pt; text-align: justify"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 9%; font-size: 10pt; text-align: right"> </td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 9%; font-size: 10pt; text-align: right"> </td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 4pt">Cash flow hedge</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-50">-</div></td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">6,399</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 78pt; text-align: justify"><b> </b></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 1in"/><td style="width: 0.25in">2.</td><td style="text-align: justify">Derivative instrument outstanding:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 106.35pt; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 106.35pt; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 1in"/><td style="width: 0.25in">3.</td><td style="text-align: justify">Derivative instrument gains and losses</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 106.35pt; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 106.35pt; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 76%; font-size: 10pt; text-align: justify"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 9%; font-size: 10pt; text-align: right"> </td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 9%; font-size: 10pt; text-align: right"> </td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 4pt">Cash flow hedge</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-50">-</div></td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">6,399</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 78pt; text-align: justify"><b> </b></p> 6399000 0 16000 -5000 16000 -21000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">u.</td><td style="text-align: justify">Advertising:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p> 2273000 1981000 1077000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">v.</td><td style="text-align: justify">Income taxes:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in; "><b> </b></p> 0.50 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">w.</td><td style="text-align: justify">Concentrations of credit risks:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in"> </p> 23000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">x.</td><td style="text-align: justify">Severance pay:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"><span>Severance expenses for the years ended December 31, </span>2020, 2019 and 2018 <span>were $2,250, $1,808 and $1,483 respectively.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p> 0.0833 2250000 1808000 1483000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">y.</td><td style="text-align: justify">Fair value of financial instruments:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; ">The hierarchy is broken down into three levels based on the inputs as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; "> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 1in"> </td> <td style="width: 0.6in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1 -</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Valuations based on quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company can access at the measurement date.</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2 -</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</span></td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td style="padding-bottom: 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3 -</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Valuations based on inputs that are unobservable and significant to the overall fair value measurement.</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; ">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">z.</td><td style="text-align: justify">Comprehensive income:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">aa.</td><td style="text-align: justify">Basic and diluted earnings per share:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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”.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in"> </p> 536359 884028 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">bb.</td><td style="text-align: justify">Recently adopted accounting standard:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in"><span style="font-weight: normal"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.75in; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><b>NOTE 3:-</b></span></td><td style="text-align: justify"><b>ACQUISITIONS</b></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b> </b></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">a.</td><td style="text-align: left">Hirsh:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Purchase price allocation:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The purchase price allocation for the acquisition has been determined at the follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Fair <br/> value</td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Amortization<br/> period (years)</td></tr> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Tangible assets</td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left">Inventory</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">3,353</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 11%; font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Intangible assets:</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Customer relationships *)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">890</td><td style="font-size: 10pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">5.9</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt">Goodwill</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">471</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt">Infinite</td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt">Total purchase price</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">4,715</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="font-size: 10pt; text-align: left; padding-bottom: 4pt"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; "> </p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in">(*)</td><td style="text-align: justify">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.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><b> </b></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">b.</td><td style="text-align: justify">Custom Gateway:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: justify; text-indent: 0pt">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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<span style="font-family: Times New Roman, Times, Serif">.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The purchase price allocation for the acquisition has been determined at the follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Fair <br/> value</td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Amortization<br/> period (years)</td></tr> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Tangible assets (liabilities):</td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left">Cash</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">1,349</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 11%; font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Accounts receivables and other receivables</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">761</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Property and equipment</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">53</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Trade payable and other payables</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(1,054</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt">Deferred tax liabilities, net</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(952</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 10pt; text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Intangible assets:</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Technology</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5,116</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">8</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Non-competition *)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">709</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">3</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt">Goodwill</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">10,902</td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt">Infinite</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 4pt">Total purchase price</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">16,884</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="font-size: 10pt; text-align: center; padding-bottom: 4pt"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p> 4715000 85000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Fair <br/> value</td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Amortization<br/> period (years)</td></tr> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Tangible assets</td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left">Inventory</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">3,353</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 11%; font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Intangible assets:</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Customer relationships *)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">890</td><td style="font-size: 10pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">5.9</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt">Goodwill</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">471</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt">Infinite</td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt">Total purchase price</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">4,715</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="font-size: 10pt; text-align: left; padding-bottom: 4pt"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; "> </p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in">(*)</td><td style="text-align: justify">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.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Fair <br/> value</td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Amortization<br/> period (years)</td></tr> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Tangible assets (liabilities):</td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left">Cash</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">1,349</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 11%; font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Accounts receivables and other receivables</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">761</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Property and equipment</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">53</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Trade payable and other payables</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(1,054</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt">Deferred tax liabilities, net</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(952</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 10pt; text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Intangible assets:</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Technology</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5,116</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">8</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Non-competition *)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">709</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">3</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt">Goodwill</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">10,902</td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt">Infinite</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 4pt">Total purchase price</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">16,884</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="font-size: 10pt; text-align: center; padding-bottom: 4pt"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> 3353000 890000 P5Y10M24D 471000 Infinite 4715000 16884000 648000 1349000 761000 53000 1054000 952000 5116000 P8Y 709000 P3Y 10902000 Infinite 16884000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.75in; text-align: left"><b>NOTE 4:-</b></td><td style="text-align: justify"><b>FAIR VALUE MEASUREMENTS</b></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"><span style="font-size: 7pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">The following is a summary of marketable securities:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"><span style="font-size: 7pt"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Amortized<br/> cost</td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Gross <br/> unrealized<br/> gain</td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Gross <br/> unrealized<br/> loss</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fair value</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Matures within one year:</td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; width: 52%; font-size: 10pt; text-align: justify">Corporate debentures</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">13,106</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">210</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-51">-</div></td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">13,316</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Government debentures</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">402</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-52">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-53">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">402</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1.5pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">13,508</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">210</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-54">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">13,718</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Matures after one year through three years:</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; font-size: 10pt; text-align: justify">Corporate debentures</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">63,611</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,815</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(3</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">65,423</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Government debentures</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">6,145</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">79</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(11</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">6,213</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1.5pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">69,756</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">1,894</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(14</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">71,636</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 4pt">Total</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">83,264</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">2,104</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">(14</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">85,354</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"><span style="font-size: 7pt"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Amortized<br/> Cost</td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Gross <br/> unrealized<br/> gain</td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Gross<br/> unrealized<br/> loss</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fair value</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Matures within one year:</td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; width: 52%; font-size: 10pt; text-align: justify">Corporate debentures</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">27,624</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">24</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">(11</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">27,637</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Government debentures</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">4,930</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-55">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-56">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">4,930</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1.5pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">32,554</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">24</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(11</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">32,567</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Matures after one year through three years:</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; font-size: 10pt; text-align: justify">Corporate debentures</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">91,887</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">575</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(117</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">92,345</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Government debentures</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">3,030</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">21</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(3</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">3,048</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1.5pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">94,917</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">596</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(120</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">95,393</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 4pt">Total</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">127,471</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">620</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">(131</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">127,960</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"><span style="font-size: 7pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Investments with continuous unrealized losses for less than 12 months and 12 months or greater and their related fair values were as follows:</p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Less than 12 months</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">More than 12 months</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Fair </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>value</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Unrealized</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>losses</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Fair </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>value</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Unrealized</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>losses</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Fair </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>value</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Unrealized</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>losses</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-size: 10pt; text-align: left; text-indent: -8.5pt; padding-left: 8.5pt">Corporate debentures</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right">3,821</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right">(3</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-57">   -</div></td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-58">          -</div></td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right">3,821</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right">(3</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt; text-indent: -8.5pt; padding-left: 8.5pt">Government debentures</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">3,002</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(11</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-59">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-60">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">3,002</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(11</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: -8.5pt; padding-left: 8.5pt"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 4pt; text-indent: -8.5pt; padding-left: 8.5pt">Total</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">6,823</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">(14</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-61">-</div></td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-62">-</div></td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">6,823</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">(14</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left">)</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"><span style="font-size: 7pt"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Less than 12 months</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">More than 12 months</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Fair </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>value</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Unrealized</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Losses</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Fair </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>value</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Unrealized</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>losses</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Fair </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>value</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Unrealized</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>losses</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-size: 10pt; text-align: left; text-indent: -8.5pt; padding-left: 8.5pt">Corporate debentures</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right">57,753</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right">(127</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right">3,801</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right">     (1</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right">61,554</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right">(128</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt; text-indent: -8.5pt; padding-left: 8.5pt">Government debentures</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">2,552</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(3</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-63">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-64">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">2,552</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(3</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: -8.5pt; padding-left: 8.5pt"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 4pt; text-indent: -8.5pt; padding-left: 8.5pt">Total</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">60,305</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">(130</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">3,801</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">(1</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">64,106</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">(131</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left">)</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"><span style="font-size: 7pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"><b> </b></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 1</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 2</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 3</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: normal; text-align: left"><span style="text-decoration:underline">Assets</span>:</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; font-size: 10pt; font-weight: normal; text-align: left; padding-bottom: 1.5pt; text-indent: 0in">Marketable securities</td><td style="width: 1%; font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-65">  -</div></td><td style="width: 1%; padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">85,354</td><td style="width: 1%; padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-66">  -</div></td><td style="width: 1%; padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">85,354</td><td style="width: 1%; padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; font-weight: bold; text-align: left; text-indent: 0in"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-bottom: 4pt; text-indent: 0in">Total financial assets</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-67">-</div></td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">85,354</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-68">-</div></td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">85,354</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 1</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 2</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 3</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: normal; text-align: left"><span style="text-decoration:underline">Assets</span>:</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; font-size: 10pt; font-weight: normal; text-align: left; text-indent: 0in">Marketable securities</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-69">   -</div></td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">127,960</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-70">  -</div></td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">127,960</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-bottom: 1.5pt; text-indent: 0in">Foreign currency derivative contracts</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-71">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">16</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-72">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">16</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; text-indent: 0in"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-bottom: 4pt; text-indent: 0in">Total financial assets</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-73">-</div></td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">127,976</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-74">-</div></td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">127,976</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Amortized<br/> cost</td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Gross <br/> unrealized<br/> gain</td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Gross <br/> unrealized<br/> loss</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fair value</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Matures within one year:</td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; width: 52%; font-size: 10pt; text-align: justify">Corporate debentures</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">13,106</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">210</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-51">-</div></td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">13,316</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Government debentures</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">402</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-52">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-53">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">402</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1.5pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">13,508</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">210</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-54">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">13,718</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Matures after one year through three years:</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; font-size: 10pt; text-align: justify">Corporate debentures</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">63,611</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,815</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(3</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">65,423</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Government debentures</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">6,145</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">79</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(11</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">6,213</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1.5pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">69,756</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">1,894</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(14</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">71,636</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 4pt">Total</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">83,264</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">2,104</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">(14</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">85,354</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"><span style="font-size: 7pt"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Amortized<br/> Cost</td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Gross <br/> unrealized<br/> gain</td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Gross<br/> unrealized<br/> loss</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fair value</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Matures within one year:</td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; width: 52%; font-size: 10pt; text-align: justify">Corporate debentures</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">27,624</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">24</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">(11</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">27,637</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Government debentures</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">4,930</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-55">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-56">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">4,930</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1.5pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">32,554</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">24</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(11</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">32,567</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Matures after one year through three years:</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; font-size: 10pt; text-align: justify">Corporate debentures</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">91,887</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">575</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(117</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">92,345</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Government debentures</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">3,030</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">21</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(3</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">3,048</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1.5pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">94,917</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">596</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(120</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">95,393</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; font-weight: bold; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 4pt">Total</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">127,471</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">620</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">(131</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">127,960</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"><span style="font-size: 7pt"> </span></p> 13106000 210000 13316000 402000 402000 13508000 210000 13718000 63611000 1815000 3000 65423000 6145000 79000 11000 6213000 69756000 1894000 14000 71636000 83264000 2104000 14000 85354000 27624000 24000 11000 27637000 4930000 4930000 32554000 24000 11000 32567000 91887000 575000 117000 92345000 3030000 21000 3000 3048000 94917000 596000 120000 95393000 127471000 620000 131000 127960000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Less than 12 months</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">More than 12 months</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Fair </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>value</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Unrealized</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>losses</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Fair </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>value</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Unrealized</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>losses</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Fair </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>value</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Unrealized</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>losses</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-size: 10pt; text-align: left; text-indent: -8.5pt; padding-left: 8.5pt">Corporate debentures</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right">3,821</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right">(3</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-57">   -</div></td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-58">          -</div></td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right">3,821</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right">(3</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt; text-indent: -8.5pt; padding-left: 8.5pt">Government debentures</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">3,002</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(11</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-59">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-60">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">3,002</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(11</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: -8.5pt; padding-left: 8.5pt"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 4pt; text-indent: -8.5pt; padding-left: 8.5pt">Total</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">6,823</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">(14</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-61">-</div></td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-62">-</div></td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">6,823</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">(14</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left">)</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"><span style="font-size: 7pt"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Less than 12 months</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">More than 12 months</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Fair </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>value</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Unrealized</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Losses</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Fair </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>value</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Unrealized</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>losses</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Fair </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>value</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Unrealized</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>losses</b></p></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; font-size: 10pt; text-align: left; text-indent: -8.5pt; padding-left: 8.5pt">Corporate debentures</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right">57,753</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right">(127</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right">3,801</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right">     (1</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right">61,554</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 7%; font-size: 10pt; text-align: right">(128</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt; text-indent: -8.5pt; padding-left: 8.5pt">Government debentures</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">2,552</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(3</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-63">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-64">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">2,552</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(3</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: -8.5pt; padding-left: 8.5pt"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt"><span style="font-size: 8pt"> </span></td> <td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: right"><span style="font-size: 8pt"> </span></td><td style="font-size: 10pt; text-align: left"><span style="font-size: 8pt"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left; padding-bottom: 4pt; text-indent: -8.5pt; padding-left: 8.5pt">Total</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">60,305</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">(130</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">3,801</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">(1</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">64,106</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">(131</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left">)</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"><span style="font-size: 7pt"> </span></p> 3821000 3000 3821000 3000 3002000 11000 3002000 11000 6823000 14000 6823000 14000 57753000 127000 3801000 1000 61554000 128000 2552000 3000 2552000 3000 60305000 130000 3801000 1000 64106000 131000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 1</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 2</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 3</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: normal; text-align: left"><span style="text-decoration:underline">Assets</span>:</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; font-size: 10pt; font-weight: normal; text-align: left; padding-bottom: 1.5pt; text-indent: 0in">Marketable securities</td><td style="width: 1%; font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-65">  -</div></td><td style="width: 1%; padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">85,354</td><td style="width: 1%; padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-66">  -</div></td><td style="width: 1%; padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">85,354</td><td style="width: 1%; padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; font-weight: bold; text-align: left; text-indent: 0in"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-bottom: 4pt; text-indent: 0in">Total financial assets</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-67">-</div></td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">85,354</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-68">-</div></td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">85,354</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 1</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 2</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Level 3</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: normal; text-align: left"><span style="text-decoration:underline">Assets</span>:</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; font-size: 10pt; font-weight: normal; text-align: left; text-indent: 0in">Marketable securities</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-69">   -</div></td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">127,960</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-70">  -</div></td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">127,960</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-bottom: 1.5pt; text-indent: 0in">Foreign currency derivative contracts</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-71">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">16</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-72">-</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">16</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; text-indent: 0in"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; font-weight: normal; text-align: left; padding-bottom: 4pt; text-indent: 0in">Total financial assets</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-73">-</div></td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">127,976</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-74">-</div></td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">127,976</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table> 85354000 85354000 85354000 85354000 127960000 127960000 16000 16000 127976000 127976000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.75in; text-align: left">NOTE 5:-</td><td style="text-align: justify">INVENTORIES</td> </tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; font-size: 10pt; text-align: justify">Raw materials and components</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">18,026</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">21,402</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Finished products (*)</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">34,461</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">16,075</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify; padding-bottom: 4pt"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">52,487</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">37,477</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in">(*)</td><td style="text-align: justify">Including amounts of $10,628 and $0 for the years ended December 31, 2020 and 2019, respectively, with respect to inventory delivered to customers for which revenue was not yet recognized.</td></tr></table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; font-size: 10pt; text-align: justify">Raw materials and components</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">18,026</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">21,402</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Finished products (*)</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">34,461</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">16,075</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify; padding-bottom: 4pt"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">52,487</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">37,477</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in">(*)</td><td style="text-align: justify">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.</td></tr></table> 18026000 21402000 34461000 16075000 52487000 37477000 10628000 0 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.75in; text-align: left">NOTE 6:-</td><td style="text-align: justify">PROPERTY, PLANT AND EQUIPMENT, NET</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify">Cost:</td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; font-size: 10pt; text-align: justify">Computer and peripheral equipment</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">4,720</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">3,748</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Office furniture and equipment</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">2,233</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,818</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Machinery and equipment</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">16,968</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">13,823</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Leasehold improvements</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">8,627</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">8,337</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Building and land</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">15,648</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">6,524</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1.5pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">48,196</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">34,250</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Accumulated depreciation</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(18,941</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(16,761</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 4pt">Property, plant and equipment, net</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">29,255</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">17,489</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Depreciation expenses for the years ended December 31, 2020, 2019 and 2018 were $3,492, $3,611, and $3,900, respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">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.</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify">Cost:</td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; font-size: 10pt; text-align: justify">Computer and peripheral equipment</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">4,720</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">3,748</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Office furniture and equipment</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">2,233</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,818</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Machinery and equipment</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">16,968</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">13,823</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Leasehold improvements</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">8,627</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">8,337</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Building and land</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">15,648</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">6,524</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1.5pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">48,196</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">34,250</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Accumulated depreciation</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(18,941</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(16,761</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 4pt">Property, plant and equipment, net</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">29,255</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">17,489</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; "> </p> 4720000 3748000 2233000 1818000 16968000 13823000 8627000 8337000 15648000 6524000 48196000 34250000 18941000 16761000 29255000 17489000 3492000 3611000 3900000 1621000 868000 861000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.75in; text-align: left">NOTE 7:-</td><td style="text-align: justify">INTANGIBLE ASSETS, NET</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 74.7pt; text-align: justify; "> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">a.</td><td style="text-align: justify">Intangible assets are comprised of the following:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.45pt; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Weighted average<br/> amortization<br/> period</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left">Original amount:</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-size: 10pt; text-align: left">Acquired technology</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 11%; font-size: 10pt; text-align: center">8.03</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">6,682</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">1,566</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left">Customer relationships</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center">5.23</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">3,504</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">3,504</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Non-competition agreement</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center">3.27</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">974</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">265</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left">Software development costs</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center">3</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,320</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,199</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt">Distribution rights</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 10pt; text-align: center; padding-bottom: 1.5pt">1</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">250</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">250</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">12,730</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">6,784</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left">Accumulated amortization:</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Acquired technology</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,424</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,066</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left">Customer relationships</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">3,071</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">2,849</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Non-competition agreement</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">360</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">232</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left">Software development costs</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">404</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt">Distribution rights</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">250</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">143</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">5,509</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">4,290</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 4pt">Intangible assets, net</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="font-size: 10pt; text-align: left; padding-bottom: 4pt"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">7,221</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">2,494</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Amortization expenses for the years ended December 31, 2020, 2019 and 2018 were $1,219, $856 and $1,065, respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.45pt; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">b.</td><td style="text-align: justify">Future amortization expenses for the years ending:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">December 31,</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-size: 10pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; font-size: 10pt; text-align: left">2021</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">1,613</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left">2022</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,524</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">2023</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">993</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left">2024</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">793</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt">2025 and thereafter</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">2,298</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 4pt"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">7,221</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Weighted average<br/> amortization<br/> period</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Years</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left">Original amount:</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; font-size: 10pt; text-align: left">Acquired technology</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 11%; font-size: 10pt; text-align: center">8.03</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">6,682</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">1,566</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left">Customer relationships</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center">5.23</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">3,504</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">3,504</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Non-competition agreement</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center">3.27</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">974</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">265</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left">Software development costs</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center">3</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,320</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,199</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt">Distribution rights</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 10pt; text-align: center; padding-bottom: 1.5pt">1</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">250</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">250</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">12,730</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">6,784</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left">Accumulated amortization:</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Acquired technology</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,424</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,066</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left">Customer relationships</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">3,071</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">2,849</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Non-competition agreement</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">360</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">232</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left">Software development costs</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">404</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">-</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt">Distribution rights</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">250</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">143</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">5,509</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">4,290</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 4pt">Intangible assets, net</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="font-size: 10pt; text-align: left; padding-bottom: 4pt"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">7,221</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">2,494</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p> P8Y10D 6682000 1566000 P5Y2M23D 3504000 3504000 P3Y3M7D 974000 265000 P3Y 1320000 1199000 P1Y 250000 250000 12730000 6784000 1424000 1066000 3071000 2849000 360000 232000 404000 250000 143000 5509000 4290000 7221000 2494000 1219000 856000 1065000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; font-weight: bold; text-align: left">December 31,</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td colspan="2" style="padding-bottom: 1.5pt; font-size: 10pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; font-size: 10pt; text-align: left">2021</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">1,613</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left">2022</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,524</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">2023</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">993</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left">2024</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">793</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt">2025 and thereafter</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">2,298</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 4pt"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">7,221</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table> 1613000 1524000 993000 793000 2298000 7221000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.75in; text-align: left">NOTE 8:-</td><td style="text-align: justify">OTHER PAYABLES AND ACCRUED EXPENSES</td> </tr></table><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; font-size: 10pt; text-align: justify">Government authorities</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">902</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">564</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Warranty provision</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,419</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,433</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Provision for returns</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,759</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">721</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Professional services</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">774</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">565</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Accrued expenses</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">6,759</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">3,090</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify; padding-left: 2.85pt"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 4pt; padding-left: 2.85pt"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">11,613</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">6,373</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: justify"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td><td style="font-size: 10pt"> </td> <td colspan="2" style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; font-size: 10pt; text-align: justify">Government authorities</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">902</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">564</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Warranty provision</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,419</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,433</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">Provision for returns</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,759</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">721</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify">Professional services</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">774</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">565</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1.5pt">Accrued expenses</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">6,759</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">3,090</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-size: 10pt; text-align: justify; padding-left: 2.85pt"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 4pt; padding-left: 2.85pt"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">11,613</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">6,373</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr> </table> 902000 564000 1419000 1433000 1759000 721000 774000 565000 6759000 3090000 11613000 6373000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.75in; text-align: left">NOTE 9:-</td><td style="text-align: justify">COMMITMENTS AND CONTINGENT LIABILITIES</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">a.</td><td style="text-align: justify">Charges:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">b.</td><td style="text-align: justify">Purchase commitments:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">c.</td><td style="text-align: justify">Litigation:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">d.</td><td style="text-align: justify">Royalty Commitments:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Royalties expenses for the years ended December 31, 2020, 2019 and 2018 were $625.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">e.</td><td style="text-align: justify">Guarantees:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; ">As of December 31, 2020, the Company provided five bank guarantees in a total amount of $579 primarily for its rented facilities.</p> 1100000 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. 45319000 0.025 625000 625000 625000 625000 5 579000 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"/><td style="width: 0.75in; text-align: left"><b>NOTE 10:-</b></td><td style="text-align: justify"><b>SHAREHOLDERS’ EQUITY</b></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">a.</td><td style="text-align: justify">Company’s shares:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in; "> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 1in"/><td style="width: 0.25in; text-align: left">1.</td><td style="text-align: justify">Ordinary shares:</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 1in"/><td style="width: 0.25in">2.</td><td style="text-align: justify">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.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 1in"/><td style="width: 0.25in">3.</td><td style="text-align: justify">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.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 1in"/><td style="width: 0.25in">4.</td><td style="text-align: justify">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.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">b.</td><td style="text-align: justify">Share option and RSU’s plans:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">  </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">c.</td><td style="text-align: justify">A summary of the Company’s share option activity and related information is as follows:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 78pt; text-align: justify; text-indent: 7.05pt; "> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; "><b>Number</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>of shares upon exercise</b></p></td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted average exercise price</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; "><b>Weighted- average remaining contractual term</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>(in years)</b></p></td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; "><b>Aggregate intrinsic</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>value</b></p></td><td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: justify">Outstanding at beginning of year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,072,777</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">17.17</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">7.73</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">18,170</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-align: left">Granted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,350</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">57.79</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9.62</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-75"> </div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-align: left">Exercised</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(366,133</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15.46</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-76"> </div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-77"> </div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Forfeited</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(30,538</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">18.09</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-78"> </div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-79"> </div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -8.5pt; padding-left: 11.35pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Outstanding at end of year</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">686,456</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">18.66</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">6.87</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">48,375</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Exercisable at end of year</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">374,526</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">15.51</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">6.12</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">27,574</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 1in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">d.</td><td style="text-align: justify">The options outstanding as of December 31, 2020, have been classified by exercise price, as follows:</td></tr></table><p style="margin-top: 0; margin-bottom: 0"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Options outstanding </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><b>at December 31, 2020</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Options exercisable </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><b>at December 31, 2020</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Exercise price</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Number outstanding</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Weighted average exercise price</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Weighted average remaining contractual term (in years)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Number outstanding</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Weighted average exercise price</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Weighted average remaining contractual term (in years)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">$</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">$</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">In years</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">$</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">In years</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; text-indent: 0in"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 14%; text-align: center; text-indent: 0in">2.07</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">25,066</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">2.07</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">3.86</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">25,066</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">2.07</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">3.86</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: center; text-indent: 0in">9.97</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,214</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9.97</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.86</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,214</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9.97</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.86</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; text-indent: 0in">10.05-11.90</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47,527</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10.32</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.58</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47,527</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10.32</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.58</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: center; text-indent: 0in">14.32-15.80</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">76,004</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15.12</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.82</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,005</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14.87</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.45</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; text-indent: 0in">16.15-18.05</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">106,009</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17.99</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.63</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">60,168</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18.05</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.61</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: center; text-indent: 0in">18.80-19.05</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">224,478</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18.81</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.55</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">87,852</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18.83</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.46</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 1.5pt; text-indent: 0in">22.40-57.79</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">151,158</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">29.29</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">9.21</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">41,694</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">27.15</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">8.51</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; text-indent: 0in"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 4pt; text-indent: 0in"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">686,456</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">374,526</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in"><span>e.</span></td><td style="text-align: justify"><span>A summary of the Company’s RSU’s activity is as follows:</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Number</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"><b>of RSUs</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: justify; text-indent: -25.95pt; padding-left: 25.95pt">Unvested at beginning of year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">678,303</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; text-indent: -25.95pt; padding-left: 25.95pt">Granted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">455,501</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; text-indent: -25.95pt; padding-left: 25.95pt">Vested</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(248,199</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -25.95pt; padding-left: 25.95pt">Forfeited</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(51,284</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; text-indent: -25.95pt; padding-left: 25.95pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt; text-indent: -25.95pt; padding-left: 25.95pt">Unvested at the end of the year</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">834,321</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 82.6pt; text-align: justify; text-indent: 0.7pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">f.</td><td style="text-align: justify">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:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Year ended </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"><b>December 31,</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Cost of products</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,056</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">632</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">494</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Cost of services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">771</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">520</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">398</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Research and development, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,712</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,294</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,022</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Sales and marketing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,893</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,689</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,240</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">General and administrative</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,604</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,479</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,392</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 4pt">Total share-based compensation expense</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">10,036</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">6,614</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">5,546</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">g.</td><td style="text-align: justify">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.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p> 3132481 4991000 129710000 2999999 161981000 0.01 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. 1379613 4265110 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; "><b>Number</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>of shares upon exercise</b></p></td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted average exercise price</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; "><b>Weighted- average remaining contractual term</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>(in years)</b></p></td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; "><b>Aggregate intrinsic</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>value</b></p></td><td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: justify">Outstanding at beginning of year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,072,777</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">17.17</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">7.73</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">18,170</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-align: left">Granted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,350</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">57.79</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9.62</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-75"> </div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-align: left">Exercised</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(366,133</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15.46</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-76"> </div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-77"> </div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Forfeited</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(30,538</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">18.09</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-78"> </div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-79"> </div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -8.5pt; padding-left: 11.35pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Outstanding at end of year</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">686,456</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">18.66</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">6.87</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">48,375</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Exercisable at end of year</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">374,526</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">15.51</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">6.12</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">27,574</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p> 1072777 17.17 P7Y8M23D 18170000 10350 57.79 P9Y7M13D 366133 15.46 30538 18.09 686456 18.66 P6Y10M13D 48375000 374526 15.51 P6Y1M13D 27574000 3286000 P2Y7D 31.55 14.51 9.5 9.22 12698000 6742000 11775000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Options outstanding </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><b>at December 31, 2020</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Options exercisable </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><b>at December 31, 2020</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Exercise price</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Number outstanding</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Weighted average exercise price</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Weighted average remaining contractual term (in years)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Number outstanding</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Weighted average exercise price</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Weighted average remaining contractual term (in years)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">$</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">$</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">In years</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">$</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">In years</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; text-indent: 0in"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 14%; text-align: center; text-indent: 0in">2.07</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">25,066</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">2.07</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">3.86</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">25,066</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">2.07</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">3.86</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: center; text-indent: 0in">9.97</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,214</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9.97</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.86</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,214</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9.97</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.86</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; text-indent: 0in">10.05-11.90</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47,527</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10.32</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.58</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47,527</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10.32</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.58</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: center; text-indent: 0in">14.32-15.80</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">76,004</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15.12</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.82</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">56,005</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14.87</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.45</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; text-indent: 0in">16.15-18.05</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">106,009</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17.99</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.63</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">60,168</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18.05</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.61</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: center; text-indent: 0in">18.80-19.05</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">224,478</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18.81</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.55</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">87,852</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18.83</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.46</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-bottom: 1.5pt; text-indent: 0in">22.40-57.79</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">151,158</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">29.29</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">9.21</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">41,694</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">27.15</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">8.51</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; text-indent: 0in"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 4pt; text-indent: 0in"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">686,456</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">374,526</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p> 2.07 25066 2.07 P3Y10M9D 25066 2.07 P3Y10M9D 9.97 56214 9.97 P3Y10M9D 56214 9.97 P3Y10M9D 10.05 11.90 47527 10.32 P5Y6M29D 47527 10.32 P5Y6M29D 14.32 15.80 76004 15.12 P5Y9M25D 56005 14.87 P5Y5M12D 16.15 18.05 106009 17.99 P6Y7M17D 60168 18.05 P6Y7M9D 18.80 19.05 224478 18.81 P7Y6M18D 87852 18.83 P7Y5M15D 22.40 57.79 151158 29.29 P9Y2M15D 41694 27.15 P8Y6M3D 686456 374526 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Number</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"><b>of RSUs</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: justify; text-indent: -25.95pt; padding-left: 25.95pt">Unvested at beginning of year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">678,303</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; text-indent: -25.95pt; padding-left: 25.95pt">Granted</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">455,501</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; text-indent: -25.95pt; padding-left: 25.95pt">Vested</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(248,199</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -25.95pt; padding-left: 25.95pt">Forfeited</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(51,284</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; text-indent: -25.95pt; padding-left: 25.95pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt; text-indent: -25.95pt; padding-left: 25.95pt">Unvested at the end of the year</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">834,321</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in; "> </p> 678303 455501 248199 51284 834321 40.93 28.50 17.1 6181 23736000 P2Y11M4D <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Year ended </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"><b>December 31,</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Cost of products</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,056</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">632</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">494</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Cost of services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">771</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">520</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">398</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Research and development, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,712</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,294</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,022</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Sales and marketing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,893</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,689</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,240</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">General and administrative</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,604</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,479</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,392</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 4pt">Total share-based compensation expense</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">10,036</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">6,614</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">5,546</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p> 1056000 632000 494000 771000 520000 398000 1712000 1294000 1022000 2893000 1689000 1240000 3604000 2479000 2392000 10036000 6614000 5546000 2932176 13.04 150000000 5000000 2162463 1689942 659736 3401060 59.26 400000000 5000000 0.004 0.52 0 P5Y3M25D 5366000 5094000 4576000 109098000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"/><td style="width: 0.75in; text-align: left">NOTE 11:-</td><td style="text-align: justify">EARNINGS (LOSSES) PER SHARE</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">The following table sets forth the computation of basic and diluted earnings (losses) per share:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Year ended </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"><b>December 31,</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Numerator for basic and diluted earnings (losses) per share:</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-bottom: 4pt">Net income (loss)</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">(4,783</td><td style="width: 1%; padding-bottom: 4pt; text-align: left">)</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">10,167</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">12,429</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Weighted average ordinary shares outstanding:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Denominator for basic earnings (losses) per share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">42,286,275</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">38,079,394</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,521,352</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Effect of dilutive securities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Employee share options, RSUs, PSUs and Warrants</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-80">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,214,721</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">842,352</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt">Denominator for diluted earnings (losses) per share</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">42,286,275</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">39,294,115</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">35,363,704</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Basic earnings (losses) per share</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(0.11</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.27</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.36</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Diluted earnings (losses) per share</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(0.11</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.26</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.35</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Year ended </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"><b>December 31,</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Numerator for basic and diluted earnings (losses) per share:</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-bottom: 4pt">Net income (loss)</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">(4,783</td><td style="width: 1%; padding-bottom: 4pt; text-align: left">)</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">10,167</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">12,429</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Weighted average ordinary shares outstanding:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Denominator for basic earnings (losses) per share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">42,286,275</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">38,079,394</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,521,352</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Effect of dilutive securities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Employee share options, RSUs, PSUs and Warrants</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-80">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,214,721</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">842,352</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt">Denominator for diluted earnings (losses) per share</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">42,286,275</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">39,294,115</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">35,363,704</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Basic earnings (losses) per share</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(0.11</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.27</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.36</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Diluted earnings (losses) per share</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(0.11</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.26</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0.35</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> -4783000 10167000 12429000 42286275 38079394 34521352 1214721 842352 42286275 39294115 35363704 -0.11 0.27 0.36 -0.11 0.26 0.35 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"/><td style="width: 0.75in; text-align: left">NOTE 12:-</td><td style="text-align: justify">ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; ">The following table summarizes the changes in accumulated balances of other comprehensive income (loss), net of taxes, for the year ended December 31, 2020:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; "> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; "><b>Unrealized</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Gains (losses) on marketable securities</b></p></td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; "><b>Unrealized</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Gains (losses) on cash flow hedges</b></p></td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Foreign currency translation adjustment</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; text-indent: -11.35pt; padding-left: 0.125in">Beginning balance</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">452</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">9</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">382</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">843</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -11.35pt; padding-left: 0.125in">Other comprehensive income before reclassifications</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,984</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">309</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">418</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,711</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -11.35pt; padding-left: 0.125in">Amounts reclassified from accumulated other comprehensive income</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(503</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(318</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-81">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(821</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -11.35pt; padding-left: 14.2pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -11.35pt; padding-left: 0.125in">Net current period other comprehensive income</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,481</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(9</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">418</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,890</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -11.35pt; padding-left: 14.2pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt; text-indent: -11.35pt; padding-left: 0.125in">Ending Balance</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,933</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">800</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,733</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; "><b>Unrealized</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Gains (losses) on marketable securities</b></p></td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; "><b>Unrealized</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Gains (losses) on cash flow hedges</b></p></td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Foreign currency translation adjustment</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; text-indent: -11.35pt; padding-left: 0.125in">Beginning balance</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">452</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">9</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">382</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">843</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -11.35pt; padding-left: 0.125in">Other comprehensive income before reclassifications</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,984</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">309</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">418</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,711</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -11.35pt; padding-left: 0.125in">Amounts reclassified from accumulated other comprehensive income</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(503</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(318</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-81">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(821</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -11.35pt; padding-left: 14.2pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -11.35pt; padding-left: 0.125in">Net current period other comprehensive income</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,481</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(9</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">418</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,890</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -11.35pt; padding-left: 14.2pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt; text-indent: -11.35pt; padding-left: 0.125in">Ending Balance</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,933</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">0</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">800</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,733</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> 452000 9000 382000 843000 1984000 309000 418000 2711000 -503000 -318000 -821000 1481000 -9000 418000 1890000 1933000 0 800000 2733000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"/><td style="width: 0.75in; text-align: left">NOTE 13:-</td><td style="text-align: justify">LEASES</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"><span style="font-weight: normal"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"><span style="font-weight: normal">The components of lease expense for the years ended December 31, 2020 and 2019 were as follows:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"><span style="font-weight: normal"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Year ended<br/> December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">Operating lease</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,544</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,857</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt">Short-term lease</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">34</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">131</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 2.85pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Total lease expense</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">4,578</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,988</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"><span style="font-weight: normal"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"><span style="font-weight: normal">Cash paid for amounts included in the measurement of operating lease liabilities was $4,635 and $3,910 during the years ended December 31, 2020 and 2019, respectively.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"><span style="font-weight: normal"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The Company’s operating lease agreements have remaining lease terms ranging from 1 year to 10 years, including agreements with options to extend the leases for up to 5 years.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.3pt">For the year ended December 31, 2020, the weighted average remaining lease term is approximately 8.7 years, and the weighted average discount rate is 3 percent. The discount rate was determined based on the estimated collateralized borrowing rate of the Company, adjusted to the specific lease term and location of each lease.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.3pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"><span style="font-weight: normal">Maturities of operating lease liabilities as of December 31, 2020 were as follows:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"><span style="font-weight: normal"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">2021</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,506</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,544</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,604</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,458</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">2025 and after</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,812</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Total operating lease payments</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">24,924</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less - imputed interest</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,279</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt">Present value of lease liabilities</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">22,645</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Year ended<br/> December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">Operating lease</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,544</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,857</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt">Short-term lease</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">34</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">131</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 2.85pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Total lease expense</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">4,578</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,988</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"><span style="font-weight: normal"> </span></p> 4544000 3857000 34000 131000 4578000 3988000 4635000 3910000 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.  P8Y8M12D 0.03 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">2021</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,506</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">2022</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,544</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,604</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,458</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">2025 and after</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,812</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Total operating lease payments</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">24,924</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less - imputed interest</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,279</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt">Present value of lease liabilities</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">22,645</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> 4506000 3544000 2604000 2458000 11812000 24924000 2279000 22645000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"/><td style="width: 0.75in; text-align: left">NOTE 14:-</td><td style="text-align: justify">TAXES ON INCOME</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">a.</td><td style="text-align: justify">Tax rates:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Taxable income of the Israeli companies is subject to the Israeli corporate tax at the rate as follows: 2020, 2019 and 2018: 23%.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">b.</td><td style="text-align: justify">Tax benefits under the Law for the Encouragement of Capital Investments, 1959 (the “Law”):</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 84.75pt; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">In addition, tax-exempt income attributed to the Beneficiary Enterprise will subject the Company to taxes upon distribution in any manner including complete liquidation.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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%.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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&amp;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<span style="font-family: Times New Roman, Times, Serif">.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0pt">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).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0pt">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%.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Tax benefits under the Israeli Law for the Encouragement of Industry (Taxation), 1969:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">c.</td><td style="text-align: justify">Income taxes of non-Israeli subsidiaries:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.05in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Non-Israeli subsidiaries are taxed according to the tax laws in their respective countries of residence.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">d.</td><td style="text-align: justify">Tax assessments:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -0.25in; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.05in; text-align: justify; "> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">e.</td><td style="text-align: justify">Carryforward losses for tax purposes:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">f.</td><td style="text-align: justify">Deferred income taxes:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">Carryforward tax losses</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,688</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,282</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Share-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">695</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,569</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Research and development expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,933</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,468</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt">Other temporary differences</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,840</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,471</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,156</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,790</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Deferred tax liability due to intangible assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,060</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(9</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Deferred tax assets, net</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">5,096</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">7,781</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">  </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Income (loss) before income taxes is comprised as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Year ended </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"><b>December 31,</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Domestic</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(6,926</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">7,343</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,458</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Foreign</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,695</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,568</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,579</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Income (loss) before income taxes</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(3,231</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">10,911</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">7,037</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">g.</td><td style="text-align: justify">Taxes on income (tax benefits) are comprised as follows:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Year ended </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"><b>December 31,</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Current taxes</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">210</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">677</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,088</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Deferred taxes</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,342</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">67</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(6,480</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,552</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">744</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(5,392</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Domestic</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,360</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(337</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(6,050</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Foreign</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">192</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,081</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">658</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,552</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">744</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(5,392</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Year ended </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"><b>December 31,</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Domestic taxes:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Current taxes </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">16</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(208</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">333</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Deferred taxes</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,344</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(129</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(6,383</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,360</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(337</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(6,050</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Foreign taxes:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Current taxes </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">194</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">885</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">755</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Deferred taxes</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">196</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(97</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">192</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,081</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">658</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Taxes on income</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,552</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">744</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(5,392</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">h.</td><td style="text-align: justify">Uncertain tax positions:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; ">A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">Beginning of year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,039</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,240</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Increases related to tax positions taken during prior years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,318</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Increases related to tax positions taken during the current year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-82">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">662</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt">Cumulative translation adjustments and other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-83">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">86</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Balance at December 31 *)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">4,357</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,039</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left">*)</td><td style="text-align: justify">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.</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">The entire amount of the unrecognized tax benefits could affect the Company’s income tax provision and the effective tax rate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">Exchange rate differences are recorded within financial income, net, while interest is recorded within income tax expense.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">  </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">i.</td><td style="text-align: justify">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:</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Year ended </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"><b>December 31,</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Income (loss) before taxes, as reported in the consolidated statements of operations</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">(3,231</td><td style="width: 1%; padding-bottom: 4pt; text-align: left">)</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">10,911</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">7,037</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Theoretical tax expense (benefit) at the Israeli statutory tax rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(741</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,510</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,618</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Tax adjustment in respect of different tax rate of foreign subsidiaries</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(94</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">151</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-deductible expenses and other permanent differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(278</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">77</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">64</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Deferred taxes on losses and other temporary differences for which valuation allowance was provided, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-84">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-85">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,503</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stock based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,485</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,247</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,161</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Change in tax rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-86">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-87">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-88">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Beneficiary enterprise benefits (*)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(68</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,935</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,469</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Increase in other uncertain tax positions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,318</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">713</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">765</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(70</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(19</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(71</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Actual tax expense (benefit)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,552</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">744</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(5,392</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify">(*) Basic and diluted earnings per share amounts of the benefit resulting from the “Beneficiary Enterprise” status</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">0.00</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">0.10</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">0.10</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> 0.23 0.23 0.23 The Israeli companies began to utilize such tax benefits in 2010. 131471000 30300000 0.16 0.12 0.075 0.12 200000000 0.20 0.20 0.12 0.075 12969000 1074000 73925000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">Carryforward tax losses</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,688</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,282</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Share-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">695</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,569</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Research and development expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,933</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,468</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt">Other temporary differences</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,840</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,471</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,156</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,790</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Deferred tax liability due to intangible assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,060</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(9</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Deferred tax assets, net</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">5,096</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">7,781</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">  </p> 1688000 3282000 695000 1569000 1933000 1468000 1840000 1471000 6156000 7790000 1060000 9000 5096000 7781000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Year ended </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"><b>December 31,</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Domestic</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(6,926</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">7,343</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4,458</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Foreign</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,695</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,568</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,579</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Income (loss) before income taxes</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(3,231</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">10,911</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">7,037</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p> -6926000 7343000 4458000 3695000 3568000 2579000 -3231000 10911000 7037000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Year ended </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"><b>December 31,</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Current taxes</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">210</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">677</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,088</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Deferred taxes</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,342</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">67</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(6,480</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,552</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">744</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(5,392</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Domestic</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,360</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(337</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(6,050</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Foreign</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">192</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,081</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">658</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,552</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">744</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(5,392</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; "> </p> 210000 677000 1088000 1342000 67000 -6480000 1552000 744000 -5392000 1360000 -337000 -6050000 192000 1081000 658000 1552000 744000 -5392000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Year ended </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"><b>December 31,</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Domestic taxes:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Current taxes </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">16</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(208</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">333</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Deferred taxes</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,344</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(129</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(6,383</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,360</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(337</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(6,050</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Foreign taxes:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Current taxes </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">194</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">885</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">755</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Deferred taxes</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">196</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(97</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">192</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,081</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">658</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Taxes on income</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,552</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">744</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(5,392</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p> 16000 -208000 333000 1344000 -129000 -6383000 1360000 -337000 -6050000 194000 885000 755000 -2000 196000 -97000 192000 1081000 658000 1552000 744000 -5392000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">Beginning of year</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">3,039</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,240</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Increases related to tax positions taken during prior years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,318</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Increases related to tax positions taken during the current year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-82">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">662</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 1.5pt">Cumulative translation adjustments and other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-83">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">86</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify; padding-bottom: 4pt">Balance at December 31 *)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">4,357</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,039</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left">*)</td><td style="text-align: justify">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.</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p> 3039000 2240000 1318000 51000 662000 86000 4357000 3039000 4357000 1880000 5000 51000 115000 0 237000 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Year ended </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"><b>December 31,</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Income (loss) before taxes, as reported in the consolidated statements of operations</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">(3,231</td><td style="width: 1%; padding-bottom: 4pt; text-align: left">)</td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">10,911</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 4pt"> </td> <td style="width: 1%; border-bottom: Black 4pt double; text-align: left">$</td><td style="width: 9%; border-bottom: Black 4pt double; text-align: right">7,037</td><td style="width: 1%; padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Theoretical tax expense (benefit) at the Israeli statutory tax rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(741</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,510</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,618</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Tax adjustment in respect of different tax rate of foreign subsidiaries</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(94</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">151</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-deductible expenses and other permanent differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(278</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">77</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">64</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Deferred taxes on losses and other temporary differences for which valuation allowance was provided, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-84">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-85">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,503</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Stock based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,485</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,247</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,161</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Change in tax rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-86">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-87">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-88">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Beneficiary enterprise benefits (*)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(68</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,935</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,469</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Increase in other uncertain tax positions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,318</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">713</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">765</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(70</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(19</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(71</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Actual tax expense (benefit)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,552</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">744</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(5,392</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify">(*) Basic and diluted earnings per share amounts of the benefit resulting from the “Beneficiary Enterprise” status</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">0.00</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">0.10</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">0.10</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> -3231000 10911000 7037000 -741000 2510000 1618000 -94000 151000 43000 -278000 77000 64000 -5503000 1485000 1247000 1161000 -68000 -3935000 -3469000 1318000 713000 765000 -70000 -19000 -71000 1552000 744000 -5392000 0.00 0.10 0.10 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"/><td style="width: 0.75in; text-align: left">NOTE 15:-</td><td style="text-align: justify">GEOGRAPHIC INFORMATION</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Summary information about geographic areas:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">The following table presents long-lived assets by geographic region as of December 31, 2020 and 2019:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">U.S</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,676</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,782</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Israel</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,073</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,253</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">EMEA</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">352</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">258</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Asia Pacific</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">154</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">196</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">29,955</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">17,489</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 8.5pt; text-align: justify; text-indent: 60pt; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">Major customers’ data as a percentage of total revenues:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">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:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; "> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Year ended </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"><b>December 31,</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Customer A</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">0</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">0</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">15</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Customer B</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17</td><td style="text-align: left">%</td></tr> </table> 1 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">U.S</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,676</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,782</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Israel</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,073</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,253</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">EMEA</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">352</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">258</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Asia Pacific</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">154</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">196</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">29,955</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">17,489</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 8.5pt; text-align: justify; text-indent: 60pt; "> </p> 1676000 1782000 27073000 15253000 352000 258000 154000 196000 29955000 17489000 0.10 <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Year ended </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"><b>December 31,</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Customer A</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">0</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">0</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">15</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Customer B</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17</td><td style="text-align: left">%</td></tr> </table> 0 0 0.15 0.11 0.12 0.17 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"/><td style="width: 0.75in; text-align: left"><b>NOTE 16:-</b></td><td style="text-align: justify"><b>SELECTED STATEMENTS OF OPERATIONS DATA</b></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">Financial income, net:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Year ended </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"><b>December 31,</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Financial income:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Interest on bank deposits and other</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,238</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,535</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">406</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Exchange rate differences, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-89">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-90">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">87</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Realized gain on sale of marketable securities, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">503</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">271</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-91">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Interest on marketable securities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,870</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,975</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,107</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Amortization of premium and accretion of discount on marketable securities, net</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-92">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">112</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-93">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,611</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,893</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,600</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Financial expenses:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Bank charges</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(357</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(405</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(299</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Exchange rate differences, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,361</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,175</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-94">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Realized loss on sale of marketable securities, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-95">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-96">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(480</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Amortization of premium and accretion of discount on marketable securities, net</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(395</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-97">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(388</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,113</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,580</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,167</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 4pt">Total financial income, net:</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,498</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,313</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,433</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="text-align: center; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; "><b>Year ended </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-align: center"><b>December 31,</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2019</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Financial income:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Interest on bank deposits and other</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,238</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,535</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">406</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Exchange rate differences, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-89">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-90">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">87</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Realized gain on sale of marketable securities, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">503</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">271</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-91">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Interest on marketable securities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,870</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,975</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,107</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Amortization of premium and accretion of discount on marketable securities, net</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-92">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">112</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-93">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,611</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,893</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,600</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Financial expenses:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Bank charges</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(357</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(405</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(299</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Exchange rate differences, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,361</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,175</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-94">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Realized loss on sale of marketable securities, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-95">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-96">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(480</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Amortization of premium and accretion of discount on marketable securities, net</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(395</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-97">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(388</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,113</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,580</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,167</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 4pt">Total financial income, net:</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,498</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,313</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,433</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> 2238000 2535000 406000 87000 503000 271000 2870000 1975000 2107000 112000 5611000 4893000 2600000 357000 405000 299000 1361000 1175000 480000 395000 388000 2113000 1580000 1167000 3498000 3313000 1433000 <table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"/><td style="width: 0.75in; text-align: left">NOTE 17:-</td><td style="text-align: justify">BALANCES AND TRANSACTIONS WITH RELATED PARTIES</td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">1.</td><td style="text-align: justify"><span style="text-decoration:underline">Fritz Companies Israel T.  Ltd. (“Fritz”)</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">2.</td><td style="text-align: justify"><span style="text-decoration:underline">Accord Insurance Agency Ltd. (“Acord”)</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"><b> </b></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">3.</td><td style="text-align: justify"><span style="text-decoration:underline">Priority Software Ltd. (“Priority”)</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">4.</td><td style="text-align: justify"><span style="text-decoration:underline">Tritone Technologies Ltd. (“Tritone”)</span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">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.</p> 4096000 3762000 2673000 1546000 934000 838000 843000 248000 100000 109000 76000 65000 22000 the sublease of 192 square meters in Rosh Ha’Ayin. The term of the lease is 24 months until September 12, 2022 2000 3000 U.S. GAAP false FY 0001625791 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. 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. 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. 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. Basic and diluted earnings per share amounts of the benefit resulting from the “Beneficiary Enterprise” status