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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

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Name Accounting Standards Codification
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