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SHAREHOLDERS' EQUITY
 6 Months Ended
Jun. 30, 2024
Stockholders' Equity Note [Abstract]  
SHAREHOLDERS' EQUITY
NOTE 8:
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 was extended to expire on December 31, 2024. In 2024, the Company adopted a new share option plan, the 2024 Equity Incentive Plan, to replace the Plan (the “New Plan”).
 
The Company has reserved sufficient authorized but unissued Shares for purposes of the Plan and the New Plan (together the “Plans”) subject to adjustments as provided in the Plans.
 
Since the date of the Plan in 2014, the Company has reserved 17,207,511 units under the Plans. As of June 30, 2024, an aggregated number of 1,631,599 ordinary shares were available for future grants under the Plans.
 
The following table summarizes the activities for the Company’s stock options for the six months ended June 30, 2024:
 
   
Six months ended
June 30, 2024
  
   
Number
of options
    
Weighted
average
exercise
price
    
Weighted average remaining contractual term
(in years)
    
Aggregate
intrinsic
value
  
                     
$ thousands
  
                         
Outstanding at beginning of year
    
5,625,482
      
2.71
      
3.66
      
300
  
Granted
    
451,823
      
2.88
                  
Exercised
    
(234,127
)
    
2.31
                  
Forfeited or expired
    
(626,739
)
    
3.18
                  
                                 
Outstanding at end of the period
    
5,216,439
      
2.68
      
3.67
      
994
  
                                 
Options exercisable at end of the period
    
2,986,522
      
2.82
      
3.08
      
383
  
                                 
Vested and expected to vest
    
4,846,189
      
2.71
      
3.58
      
876
  
 
The weighted average fair value of options granted during the six months ended June 30, 2024, and 2023 was $1.24 and $1.06, respectively.
 
The intrinsic value of options exercised during the six months ended June 30, 2024, and 2023 was $141 thousand and $43 thousand, respectively.
 
The following table summarizes the activities for the Company’s RSUs for the six months ended June 30, 2024:
 
   
Six months ended
June 30, 2024
  
   
Number of
RSUs
    
Weighted average fair value
  
             
Unvested at beginning of year
    
2,622,195
      
2.42
  
Granted
    
439,677
      
2.63
  
Vested
    
(218,031
)
    
2.27
  
Forfeited
    
(71,740
)
    
2.31
  
                 
Unvested at end of period
    
2,772,101
      
2.47
  
 
As of June 30, 2024, the total unrecognized estimated compensation cost related to non-vested stock options and RSUs granted prior to that date was $3,564 thousand, 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, 2024, and 2023:
 
   
Six months ended
June 30,
  
   
2024
    
2023
  
   
$ thousands
  
             
Cost of revenues
    
265
      
226
  
Research and development
    
336
      
477
  
Sales and Marketing
    
683
      
738
  
General and administrative
    
1,186
      
536
  
                 
Total share-based compensation expense
    
2,470
      
1,977