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SHAREHOLDERS' EQUITY (Tables)
 12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Composition of Shares Capital of the Company
  a. Composition of shares capital of the Company:

 

     December 31, 2013      December 31, 2014  
     Authorized      Issued and
outstanding		      Authorized      Issued and
outstanding		  
     Number of shares  

Ordinary shares of NIS 0.01 par value each

      31,785,000         7,019,352         250,000,000         30,501,352   

Series A preferred shares

      378,000         378,000         —           —     

Series A1 preferred shares

      1,637,000         1,185,190         —           —     

Series B preferred shares

      9,000,000         8,515,390         —           —     

Series B1 preferred shares

      2,600,000         2,575,650         —           —     

Series B2 preferred shares

      4,000,000         3,206,620         —           —     

Series B3 preferred shares

      600,000         97,440         —           —     
  

 

 

     

 

 

     

 

 

     

 

 

  
  50,000,000      22,977,642      250,000,000      30,501,352   
  

 

 

     

 

 

     

 

 

     

 

 

  
Conversion Ratio

Following the Company’s IPO, as described in note 7.b, all of the Company preferred shares were automatically converted into ordinary shares based on a conversion ratio detailed in the Company’s Articles of Association, as follows:

 

     Conversion Ratio  

Series A preferred Shares

      1.094   

Series A1 preferred Shares

      1.485   

Series B preferred Shares

      1   

Series B1 preferred Shares(*)

      1   

Series B2 preferred Shares

      1   

Series B3 preferred Shares

      1   

 

(*) with respect only to the Series B1 preferred shares, serial numbers 226,503 to 257,565 (inclusive), the Conversion Price was 1.543, which results in a Conversion Ratio of 1.001451717.
Total Share-Based Compensation Expense Related to all of Equity-Based Awards

The total share-based compensation expense related to all of the Company’s equity-based awards, recognized for the years ended December 31, 2012, 2013 and 2014 was comprised as follows:

 

     Year ended
December 31,		  
     2012      2013      2014  

Cost of revenues

    $ 32       $ 39       $ 137   

Research and development

      58         73         172   

Sales and marketing

      81         126         347   

General and administrative

      113         165         917   
  

 

 

     

 

 

     

 

 

  

Total share-based compensation expense

 $ 284    $ 403    $ 1,573   
  

 

 

     

 

 

     

 

 

  
Summary of the Activity in Options Granted to Employees

A summary of the activity in options granted to employees for the year ended December 31, 2014 is as follows:

 

     Amount
of
options		      Weighted
average
exercise
price		      Weighted
average
remaining
contractual
term
(in years)		      Aggregate
intrinsic value		  

Balance as of December 31, 2013

      4,542,466       $ 1.41         6.67       $ 22,970   

Granted

      386,700       $ 15.56         

Exercised

      (255,562 )     $ 0.74         

Forfeited

      (108,840 )     $ 4.57         
  

 

 

           

Balance as of December 31, 2014

   4,564,764    $ 2.57      5.96    $ 169,410   
  

 

 

           

Exercisable as of December 31, 2014

   3,458,332    $ 1.13      5.12    $ 133,218   
  

 

 

           

Vested and expected to vest as of December 31, 2014

   4,535,633    $ 2.55      5.94    $ 168,422   
  

 

 

           
Parameters Used in Computation of the Options Compensation

The following table set forth the parameters used in computation of the options compensation to employees for the years ended December 31, 2012, 2013 and 2014:

 

     Year ended
December 31,
     2012    2013   2014

Expected volatility

    40%-45%    45%   45%

Expected dividends

    0    0   0

Expected term (in years)

    5.28-6.11    6.11   5.81-6.11

Risk free rate

    0.61%-2.64%    1.15%-2.64%   1.55%-2.02%
Summary of Options Data

A summary of options data for the years ended December 31, 2012, 2013 and 2014, is as follows:

 

     Year ended
December 31,		  
     2012      2013      2014  

Weighted-average grant date fair value of options granted

    $ 0.61       $ 2.03       $ 6.95   
  

 

 

     

 

 

     

 

 

  

Total intrinsic value of the options exercised

 $ 221    $ 1,858   $ 9,943   
  

 

 

     

 

 

     

 

 

  

Total fair value of options vested

 $ 219    $ 340    $ 925   
  

 

 

     

 

 

     

 

 

  
Summary of Outstanding and Exercisable Options Granted

The following tables summarize information about the Company’s outstanding and exercisable options granted to employees as of December 31, 2014:

 

Exercise price

    Options
outstanding
as of
December 31,
2014		      Weighted
average
remaining
contractual
term		      Options
exercisable
as of
December 31,
2014		      Weighted
average
remaining
contractual
term		  
            (years)             (years)  

$0.20

      309,250         5.37         309,250         5.37   

$0.41

      1,581,890         3.04         1,581,890         3.04   

$1.06

      379,700         6.43         356,853         6.41   

$1.46

      1,080,623         7.39         809,290         7.39   

$1.78

      345,700         6.78         204,233         5.93   

$2.21

      123,551         8.42         51,744         8.42   

$6.47

      365,250         8.97         95,160         8.97   

$8.84

      50,000         9.09         31,250         9.09   

$9.93

      70,400         9.32         —           —     

$14.00

      224,000         9.70         18,662         9.70   

$44.37

      34,400         9.88         —           —     
  

 

 

        

 

 

     
  4,564,764      5.96      3,458,332      5.12   
  

 

 

     

 

 

     

 

 

     

 

 

  
Summary of RSU Activity
  A summary of RSU activity for the year ended December 31, 2014, is as follows:

 

     Amount
of
options		      Weighted
average
grant date fair
value		  

Unvested as of December 31, 2013

      —           —     

Granted

      29,200       $ 44.37   

Forfeited

      (1,240 )     $ 44.37   
  

 

 

     

Unvested as of December 31, 2014

   27,960    $ 44.37