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BASIC AND DILUTED NET INCOME PER SHARE

12 Months Ended

Dec. 31, 2019

NOTE 15:BASIC AND DILUTED NET INCOME PER SHARE

	Year ended December 31,
	2017		2018		2019
Numerator:

Net income available to shareholders of ordinary shares	$	16,015	$	47,072	$	63,064

Denominator:
Shares used in computing basic net income per ordinary shares		34,824,312		36,174,316		37,586,387

	Year ended December 31,
	2017		2018		2019
Numerator:

Net income available to shareholders of ordinary shares	$	16,015	$	47,072	$	63,064

Denominator:
Shares used in computing diluted net income per ordinary shares		36,175,824		37,065,727		38,890,108

The total weighted average number of shares related to outstanding options, RSUs and PSUs that have been excluded from the calculation of diluted net income per ordinary share was 1,880,018, 1,175,311 and 495,975 for the years ended December 31, 2017, 2018 and 2019, respectively.

Additionally, 3.6 million shares underlying the conversion option of the Convertible Notes are not considered in the calculation of diluted net income per share as the effect would be anti-dilutive. The Company intends to settle the principal amount of Convertible Notes in cash and therefore will use the treasury stock method for calculating any potential dilutive effect on diluted net income per share, if applicable. The conversion will have a dilutive impact on diluted net income per share when the average market price of a common stock for a given period exceeds the

conversion price of $157.53 per share.