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SHAREHOLDERS' EQUITY
 6 Months Ended
Jun. 30, 2023
Stockholders' Equity Note [Abstract]  
SHAREHOLDERS' EQUITY
NOTE 7:
SHAREHOLDERS' EQUITY
 
  a.
Ordinary shares
 
The ordinary shares of the Company entitle their holders to receive notice to participate and vote in general meetings of the Company, the right to share in distributions upon liquidation of the Company and to receive dividends, if declared.
 
  b.
Stock Options and RSUs plans
 
In 2003, the Company adopted a share option plan which has been extended or replaced from time to time. To date, the plan that is currently in effect is the Amended and Restated Share Option and RSU Plan as amended on August 10, 2014 (the “Plan”). Under the Plan, options and RSUs may be granted to officers, directors, employees and consultants of the Company or its subsidiaries. The options vest primarily over four years, subject to certain exceptions. The options expire between six to ten years from the date of grant. The Plan expires in December 2023. The Company needs to reserve, and the Board of Directors has reserved, sufficient authorized but unissued Shares for purposes of the Plan subject to adjustments as provided in the Plan. Since the last amendment in 2014, the Company has reserved 14,957,511 units under the Plan. As of June 30, 2023, an aggregate of 734,418 ordinary shares were available for future grants under the plan.

 

The following table summarizes the activities for the Company’s stock options for the six months ended June 30, 2023:
 
   
Six months ended
June 30, 2023
  
   
Number
of options
    
Weighted
average
exercise
price
    
Weighted average remaining contractual term
(in years)
    
Aggregate
intrinsic
value
  
                         
Outstanding at beginning of year
    
5,305,732
    
$
2.95
      
3.83
    
$
19
  
Granted
    
607,478
      
1.93
                  
Exercised
    
(17,915
)
    
1.70
                  
Forfeited or expired
    
(644,249
)
    
3.06
                  
                                 
Outstanding at end of the period
    
5,251,046
      
2.82
      
3.58
    
$
153
  
                                 
Options exercisable at end of the period
    
2,725,843
    
$
2.94
      
2.52
    
$
17
  
                                 
Vested and expected to vest
    
3,933,732
    
$
2.87
      
3.19
    
$
76
  
 
The weighted average fair value of options granted during the six months ended June 30, 2022 and 2023 was $ 1.00 and $ 1.06, respectively.
 
The intrinsic value of options exercised during the six months ended June 30, 2022 and 2023 was $ 62 and $ 43, respectively.
 
The following table summarizes the activities for the Company’s RSUs for the six months ended June 30, 2023:
 
   
Number of RSUs
    
Weighted average fair value
  
             
Unvested at beginning of year
    
2,108,339
        
Granted
    
429,620
    
$
1.88
  
Vested
    
(20,656
)
        
Forfeited
    
(159,303
)
        
                 
Unvested at end of period
  
$
2,358,000
          
 
As of June 30, 2023, the total unrecognized estimated compensation cost related to non-vested stock options and RSUs granted prior to that date was $ 4,121, which is expected to be recognized over a weighted average period of approximately one year.
 
The following table sets forth the total share-based compensation expenses included in the interim consolidated statements of operations for the six months ended June 30, 2022 and 2023:
 
   
Six months ended
June 30,
  
   
2022
    
2023
  
   
Unaudited
  
             
Cost of revenues
    
257
      
226
  
Research and development
    
20
      
477
  
Sales and Marketing
    
579
      
738
  
General and administrative
    
579
      
536
  
                 
Total share-based compensation expense
  
$
1,435
    
$
1,977