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INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 8,015 $ 4,511
Adjustments required to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 923 611
Amortization of intangible assets 618 618
Equity-based compensation 4,127 3,083
Realized loss, net on sale of available-for-sale marketable securities 40 16
Amortization of premiums on available-for-sale marketable securities 619 489
Unrealized foreign exchange (gain) loss 29 (33)
Changes in operating assets and liabilities:    
Trade receivables 4,655 (6,697)
Prepaid expenses and other assets (2,382) (1,916)
Accrued interest on bank deposits 323 (441)
Deferred tax, net (490) (326)
Trade payables (285) 325
Deferred revenues (2,870) (650)
Accrued expenses and other payables 339 (51)
Accrued payroll and related benefits (1,675) (1,056)
Income taxes payable (1,475) 15
Accrued severance pay, net 41 207
Net cash provided by (used in) operating activities 10,552 (1,295)
Cash flows from investing activities:    
Purchase of property and equipment (2,275) (740)
Investment in bank deposits (30,757) (9,100)
Proceeds from bank deposits 27,050 15,113
Investment in available-for-sale marketable securities (27,825) (23,270)
Proceeds from maturity of available-for-sale marketable securities 3,895 6,561
Proceeds from sale of available-for-sale marketable securities 12,196 12,549
Net cash provided by (used in) investing activities (17,716) 1,113
Cash flows from financing activities:    
Purchase of treasury stock   (3,417)
Proceeds from exercise of stock-based awards 5,741 3,392
Net cash provided by (used in) financing activities 5,741 (25)
Effect of exchange rate changes on cash and cash equivalents 125 (38)
Decrease in cash and cash equivalents (1,298) (245)
Cash and cash equivalents at the beginning of the period 18,401 18,909
Cash and cash equivalents at the end of the period 17,103 18,664
Supplemental information of cash-flow activities:    
Income and withholding taxes, net of refunds $ 2,505 1,243
Non-cash transactions:    
Property and equipment purchases incurred but unpaid at period end   $ 245