SHARE OPTION PLANS AND ESPP (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Share-Based Payment Arrangement, Recognized Amount [Abstract] |
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| Schedule of stock option plans |
A summary of the status of the Company’s option plans as of September 30, 2026 and changes during the period then ended is presented below: | | | | | | | | | | | | | Nine months ended September 30, 2026 | | Unaudited | | Number
of options | | Weighted
average
exercise
price | | Outstanding at beginning of year | 10,827,353 | | | $ | 29.93 | | | Granted | 992,929 | | | 13.69 | | | Exercised | (528,602) | | | 12.28 | | | Forfeited and canceled | (1,697,519) | | | 36.48 | | | Outstanding as of September 30, 2026 | 9,594,161 | | | $ | 28.06 | | | | | | | Exercisable options | 6,595,152 | | | $ | 32.97 | |
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| Schedule of RSUs and PSUs |
A summary of the status of the Company’s RSUs and PSUs as of September 30, 2026 and changes during the period then ended is presented below. | | | | | | | | | | | | | Nine months ended September 30, 2026 | | Unaudited | | Number
of RSU/PSUs | | Weighted
average
grant date fair value | | Unvested at beginning of year | 13,134,654 | | | $ | 23.67 | | | Granted | 5,067,499 | | | 13.48 | | | Vested | (3,705,128) | | | 22.69 | | RSUs withheld for tax liabilities | (40,950) | | | 31.25 | | | Forfeited and cancelled | (3,633,397) | | | 35.03 | | | Unvested as of September 30, 2026 (1) | 10,822,678 | | | 15.39 | |
(1) Includes PSUs that have a mix of service, market and other milestone performance vesting conditions which are vested upon achievements of performance milestones that are not probable as of September 30, 2026, in accordance with ASC 718 "Compensation - Stock Compensation" as follows: | | | | | | | | | | | | | | | | | | | September 30, 2026 | | Number of
PSUs | | Fair value at grant date per PSU | | Total fair value at grant date | | 890,677 | | | $ | 13.48 | | | $ | 12,006 | | | 43,967 | | | 14.99 | | | 659 | | | 334,149 | | | 16.30 | | | 5,447 | | | 531,515 | | | 18.19 | | | 9,668 | | | | | | | | | | | | | | | | | | | | | 1,800,308 | | | | | $ | 27,780 | |
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| Schedule of fair value assumptions used for all equity based awards estimated using black-scholes option pricing model |
The fair value of share-based awards was estimated using the Black-Scholes model for all equity grants. For market condition awards, the Company also applied the Monte-Carlo simulation model. The Company assessed fair value using the following underlying assumptions: | | | | | | | | | | | | | | | | | | | Nine months ended September 30, | | Year ended December 31,
2025 | | 2026 | | 2025 | | | Unaudited | | Audited | | Stock Option Plans | | | | | | | Expected term (years) | 5.50-5.84 | | 5.50-5.79 | | 5.50-5.79 | | Expected volatility | 77%-79% | | 75%-77% | | 75%-77% | | Risk-free interest rate | 3.68%-4.13% | | 4.01%-4.02% | | 4.01%-4.02% | | | | | | | | | | | | | | | | | | | | Dividend yield | 0.00 | % | | 0.00 | % | | 0.00 | % | | ESPP | | | | | | | Expected term (years) | 0.50 | | 0.50 | | 0.50 | | | | | | | | | | | | | | Expected volatility | 62%-89% | | 56%-89% | | 56%-89% | | Risk-free interest rate | 3.52%-3.92% | | 4.16%-4.20% | | 4.16%-4.20% | | Dividend yield | 0.00 | % | | 0.00 | % | | 0.00 | % |
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| Schedule of non-cash share-based compensation expense related to company's equity-based awards |
The total non-cash share-based compensation expense related to all of the Company’s equity-based awards recognized for the three and nine months ended September 30, 2026 and 2025, and the year ended December 31, 2025 was: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30, | | Nine months ended September 30, | | Year ended December 31,
2025 | | 2026 | | 2025 | | 2026 | | 2025 | | | Unaudited | | Unaudited | | Audited | | Cost of revenues | $ | 561 | | | $ | 929 | | | $ | 1,697 | | | $ | 3,004 | | | $ | 3,627 | | | Research, development and clinical studies | 4,102 | | | 6,166 | | | 12,160 | | | 18,154 | | | 25,538 | | | Sales and marketing | 3,152 | | | 7,663 | | | 11,436 | | | 21,538 | | | 27,121 | | General and administrative (1) | 9,668 | | | 14,563 | | | 72,211 | | | 42,320 | | | 48,546 | | | Total share-based compensation expense | $ | 17,483 | | | $ | 29,321 | | | $ | 97,504 | | | $ | 85,016 | | | $ | 104,832 | |
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