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SHAREHOLDERS' EQUITY (Tables)
12 Months Ended
Dec. 31, 2022
Stockholders' Equity Note [Abstract]  
Schedule of Shares Capital

 

 

December 31,

 

 

 

2021

 

 

2022

 

 

 

Authorized

 

 

Issued and

outstanding

 

 

Authorized

 

 

Issued and

outstanding

 

 

 

Number of shares

 

Ordinary shares of NIS 0.01 par value each

 

 

250,000,000

 

 

 

40,041,870

 

 

 

250,000,000

 

 

 

41,028,571

 

Schedule of Share Based Compensation Expense

 

 

Year ended

December 31,

 

 

 

2020

 

 

2021

 

 

2022

 

 

 

 

 

 

 

 

 

 

 

Cost of revenues

 

$

8,734

 

 

$

11,158

 

 

$

15,060

 

Research and development

 

 

14,691

 

 

 

20,498

 

 

 

27,102

 

Sales and marketing

 

 

28,220

 

 

 

38,546

 

 

 

51,099

 

General and administrative

 

 

20,204

 

 

 

25,234

 

 

 

27,560

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total share-based compensation expense

 

$

71,849

 

 

$

95,436

 

 

$

120,821

 

Schedule of Stock Option Activity

 

 

Amount

of

options

 

 

Weighted

average

exercise

price

 

 

Weighted

average

remaining

contractual

term

(in years)

 

 

Aggregate

intrinsic

value

 

                                 

Balance as of December 31, 2021

 

 

460,852

 

 

 

68.78

 

 

 

5.44

 

 

 

48,261

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

21,900

 

 

 

157.22

 

 

 

 

 

 

 

 

 

Exercised

 

 

33,493

 

 

 

54.97

 

 

 

 

 

 

 

 

 

Forfeited

 

 

8,375

 

 

 

169.55

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance as of December 31, 2022

 

 

440,884

 

 

 

72.31

 

 

 

4.59

 

 

 

26,338

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable as of December 31, 2022

 

 

398,350

 

 

 

64.81

 

 

 

4.16

 

 

 

26,034

 

Schedule of Fair Value Assumptions

 

 

Year ended

December 31,

 

 

 

2020

 

 

2021

 

 

2022

 

Options

 

 

 

 

 

 

 

 

 

                         

Expected volatility

 

 

40%-41%

 

 

 

44%-46%

 

 

 

46%-50%

 

Expected dividends

 

 

0%

 

 

 

0%

 

 

 

0%

 

Expected term (in years)

 

 

4.02-4.20

 

 

 

3.65-3.88

 

 

 

3.73-3.76

 

Risk free rate

 

 

0.22%-1.61%

 

 

 

0.49%-0.99%

 

 

 

1.67%-4.40%

 

       

 

 

Year ended

December 31,

 

 

 

2020

 

 

2021

 

 

2022

 

ESPP

 

 

 

 

 

 

 

 

 

                         

Expected volatility

 

 

-

 

 

 

33.63%

 

 

 

55.67%-64.20%

 

Expected dividends

 

 

-

 

 

 

0%

 

 

 

0%

 

Expected term (in years)

 

 

-

 

 

 

0.5

 

 

 

0.5

 

Risk free rate

 

 

-

 

 

 

0.1%

 

 

 

2.15%-4.65%

 

Schedule of Options Data

 

 

Year ended

December 31,

 

 

 

2020

 

 

2021

 

 

2022

 

 

 

 

 

 

 

 

 

 

 

Weighted-average grant date fair value of options granted

 

$

33.82

 

 

$

55.50

 

 

$

39.69

 

Total intrinsic value of the options exercised

 

$

18,790

 

 

$

20,742

 

 

$

30,031

 

Schedule of RSUs and PSUs Activity

 

 

Amount

of RSUs and

PSUs

 

 

Weighted

average

grant date

fair value

 

 

 

 

 

 

 

 

Unvested as of December 31, 2021

 

 

2,179,714

 

 

$

123.54

 

 

 

 

 

 

 

 

 

 

Granted

 

 

1,325,429

 

 

 

127.10

 

Vested

 

 

835,106

 

 

 

114.21

 

Forfeited

 

 

185,229

 

 

 

129.63

 

 

 

 

 

 

 

 

 

 

Unvested as of December 31, 2022

 

 

2,484,808

 

 

$

128.12