TAXES ON INCOME (Tables)
|
12 Months Ended |
Dec. 31, 2016 |
|---|
| Income Tax Disclosure [Abstract] |
|
| Taxes on Income Comprised |
b. Taxes on income comprised of:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Year ended
December 31, |
|
| |
|
2014 |
|
|
2015 |
|
|
2016 |
|
|
Domestic taxes:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
|
|
$ |
7 |
|
|
$ |
115 |
|
|
$ |
6 |
|
|
Deferred
|
|
|
2,987 |
|
|
|
— |
|
|
|
— |
|
|
Foreign taxes:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
|
|
|
314 |
|
|
|
2,212 |
|
|
|
3,932 |
|
|
Deferred
|
|
|
(456 |
) |
|
|
(1,213 |
) |
|
|
(613 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,852 |
|
|
$ |
1,114 |
|
|
$ |
3,325 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before taxes on income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
|
|
$ |
(2,379 |
) |
|
$ |
(3,360 |
) |
|
$ |
(3,488 |
) |
|
Foreign
|
|
|
4,412 |
|
|
|
10,741 |
|
|
|
19,913 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,033 |
|
|
$ |
7,381 |
|
|
$ |
16,425 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Reconciliation Between Company's Effective Tax Rate and U.S. Statutory Rate |
c. Reconciliation between the Company’s effective tax rate
and the U.S. statutory rate:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Year ended
December 31, |
|
| |
|
2014 |
|
|
2015 |
|
|
2016 |
|
|
Income before taxes on income
|
|
$ |
2,033 |
|
|
$ |
7,381 |
|
|
$ |
16,425 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Theoretical tax at U.S. statutory rate
|
|
|
691 |
|
|
|
2,510 |
|
|
|
5,585 |
|
|
Foreign income taxes at rates other than U.S. rate
|
|
|
(489 |
) |
|
|
(958 |
) |
|
|
(1,831 |
) |
|
Approved and benefited enterprises benefits (*)
|
|
|
(785 |
) |
|
|
(1,653 |
) |
|
|
(2,767 |
) |
|
Subpart F
|
|
|
394 |
|
|
|
434 |
|
|
|
538 |
|
|
Non-deductible items
|
|
|
723 |
|
|
|
349 |
|
|
|
682 |
|
|
Non-taxable items
|
|
|
(230 |
) |
|
|
(481 |
) |
|
|
(505 |
) |
|
Changes in uncertain tax position
|
|
|
(920 |
) |
|
|
— |
|
|
|
505 |
|
|
Changes in valuation allowance
|
|
|
3,356 |
|
|
|
839 |
|
|
|
1,212 |
|
|
Other, net
|
|
|
112 |
|
|
|
74 |
|
|
|
(94 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxes on income
|
|
$ |
2,852 |
|
|
$ |
1,114 |
|
|
$ |
3,325 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(*) Basic and diluted earnings per share amounts of the benefit
resulting from the “Approved Enterprise” and
“Benefited Enterprise” status
|
|
$ |
0.04 |
|
|
$ |
0.08 |
|
|
$ |
0.13 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Deferred Taxes on Income |
d. Deferred taxes on income:
Significant components of the Company’s deferred tax assets
are as follows:
|
|
|
|
|
|
|
|
|
| |
|
As at December 31, |
|
| |
|
2015 |
|
|
2016 |
|
|
Deferred tax assets
|
|
|
|
|
|
|
|
|
|
Operating loss carryforward
|
|
$ |
9,066 |
|
|
$ |
9,638 |
|
|
Accrued expenses
|
|
|
1,165 |
|
|
|
1,128 |
|
|
Temporary differences related to R&D expenses
|
|
|
1,052 |
|
|
|
1,435 |
|
|
Equity-based compensation
|
|
|
2,625 |
|
|
|
2,685 |
|
|
Tax credit carry forward
|
|
|
875 |
|
|
|
1,237 |
|
|
Other
|
|
|
529 |
|
|
|
562 |
|
|
|
|
|
|
|
|
|
|
|
Total gross deferred tax assets
|
|
|
15,312 |
|
|
|
16,685 |
|
|
Valuation allowance
|
|
|
(12,740 |
) |
|
|
(13,780 |
) |
|
|
|
|
|
|
|
|
|
|
Net deferred tax assets
|
|
$ |
2,572 |
|
|
$ |
2,905 |
|
|
|
|
|
|
|
|
|
|
|
Deferred tax liabilities
|
|
|
|
|
|
|
|
|
|
Intangible assets
|
|
$ |
915 |
|
|
$ |
621 |
|
|
Other
|
|
|
29 |
|
|
|
32 |
|
|
|
|
|
|
|
|
|
|
|
Total deferred tax liabilities
|
|
$ |
944 |
|
|
$ |
653 |
|
|
|
|
|
|
|
|
|
|
|
Net deferred tax assets (*)
|
|
$ |
1,628 |
|
|
$ |
2,252 |
|
|
|
|
|
|
|
|
|
|
(*) Net deferred taxes for the years ended December 31, 2015
and 2016 are all from foreign jurisdictions.
|
| Reconciliation of Beginning and Ending Amount of Gross Unrecognized Tax Benefits |
e. Uncertain tax positions
A reconciliation of the beginning and ending amount of gross
unrecognized tax benefits based on the provisions of FASB ASC
No. 740 is as follows:
|
|
|
|
|
|
|
|
|
| |
|
Year ended December 31, |
|
| |
|
2015 |
|
|
2016 |
|
|
Beginning of year
|
|
$ |
2,859 |
|
|
$ |
3,076 |
|
|
Additions for current year tax positions
|
|
|
217 |
|
|
|
232 |
|
|
Additions for prior year’s tax positions
|
|
|
— |
|
|
|
476 |
|
|
|
|
|
|
|
|
|
|
|
Balance at December 31
|
|
$ |
3,076 |
|
|
$ |
3,784 |
|
|
|
|
|
|
|
|
|
|
|