v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 20,257 $ 6,038 $ (21,590)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 11,684 11,836 12,244
Share-based compensation 24,035 26,027 34,022
Loss on sale of marketable securities 0 0 243
Amortization of premiums, accretion of discounts and accrued interest on marketable securities, net 1 (417) 1,754
Changes in accrued interest on bank deposits (7,736) 3,366 (3,265)
Increase (decrease) in accrued severance pay, net 193 (45) (299)
Decrease (increase) in trade receivables, net (18,200) 3,444 (2,515)
Changes in deferred income taxes, net (733) (1,084) (551)
Decrease (increase) in other assets and prepaid expenses (3,763) 987 246
Decrease (increase) in inventories 810 1,514 (4,116)
Increase (decrease) in trade payables 1,653 1,283 (2,166)
Increase (decrease) in deferred revenues 6,807 5,500 (14,951)
Increase (decrease) in other payables and accrued expenses 13,500 13,274 (1,415)
Operating lease right-of-use assets 4,713 4,203 3,934
Operating lease liabilities (3,130) (4,317) (5,075)
Net cash provided by (used in) operating activities 50,091 71,609 (3,500)
Cash flows from investing activities:      
Purchase of property and equipment (8,536) (5,279) (5,429)
Proceeds from other long-term assets 58 81 66
Investment in (proceeds from) other deposits 5,000 (5,000) 0
Proceeds from (investing in) bank deposits (42,041) (48,115) 81,031
Purchase of marketable securities (65,425) (110,125) (33,274)
Proceeds from maturity of marketable securities 73,224 124,968 46,177
Proceeds from sale of marketable securities 7,650 3,950 4,208
Net cash (used in) provided by investing activities (30,070) (39,520) 92,779
Cash flows from financing activities:      
Proceeds from exercise of share options 0 3 371
Payment of contingent consideration related to acquisition (3,167) (3,077) (2,063)
Repurchase of ordinary shares (10,490) (839) (63,234)
Net cash used in financing activities (13,657) (3,913) (64,926)
Increase in cash and cash equivalents 6,364 28,176 24,353
Cash and cash equivalents at the beginning of the year 98,714 70,538 46,185
Cash and cash equivalents at the end of the year 105,078 98,714 70,538
Supplemental disclosure of cash flow information:      
Cash paid during the year for taxes on income 2,218 921 4,000
Non-cash investing activities:      
Right-of-use assets recognized with corresponding lease liabilities $ 1,882 $ 1,882 $ 1,633