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v3.8.0.1

Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015
Cash flows from operating activities: |  |  |
Net income (loss) | $ 2,901 | $ 1,915 | $ (923)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: |  |  |
Depreciation | 537 | 286 | 123
Share-based compensation and RSUs | 2,216 | 2,471 | 1,409
Change in: |  |  |
Severance pay, net | 42 | 4 | 73
Trade receivables, net | (15,865) | (329) | 1,053
Other account receivables and prepaid expenses | (524) | 524 | (1,266)
Inventories | (560) | 794 | 311
Trade payables | (1,150) | 1,273 | (278)
Employees and payroll accruals | 524 | 999 | 174
Other accounts payable and accrued expenses | 1,385 | 266 | 531
Deferred revenue and advances from customers | (109) | 1,248 | 677
Net cash (used in) provided by operating activities | (10,603) | 9,451 | 1,884
Cash flows from investing activities: |  |  |
Investment in short-term bank deposits | (40,000) |  |
Purchase of property and equipment | (790) | (1,331) | (97)
Net cash used in investing activities | (40,790) | (1,331) | (97)
Cash flows from financing activities: |  |  |
Proceeds from issuance of Ordinary Shares, net of issuance costs upon follow-on public offering | 30,206 | 21,279 |
Exercise of warrants into Ordinary Shares |  | 1,085 | 80
Exercise of options into Ordinary Shares | 891 | 3,329 | 733
Net cash provided by financing activities | 31,097 | 25,693 | 813
Foreign currency translation adjustments on cash and cash equivalents | (15) | 346 | (721)
(Decrease) increase in cash and cash equivalents | (20,311) | 34,159 | 1,879
Cash and cash equivalents at beginning of year | 42,886 | 8,727 | 6,848
Cash and cash equivalents at end of year | 22,575 | 42,886 | 8,727
(a) Non-cash investing activities: |  |  |
Purchase of property and equipment | 239 | 81 | 21
(b) Cash paid during the year for: |  |  |
Taxes on income | $ 83 | $ 24 | $ 121

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