0001213900-22-016257 | POS AM | XBRL Viewer

[1]	Prior period results have been retroactively adjusted to reflect the 1:1.0422 reverse stock split effected on August 30, 2021. See also Note 12, Shareholders’ Equity, for details.
[2]	Less than US$ 1.

Consolidated Balance Sheets (Parentheticals) $ in Thousands	Dec. 31, 2021 USD ($) shares	Dec. 31, 2021 ₪ / shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2020 ₪ / shares
Statement of Financial Position [Abstract]
Net of allowance for doubtful accounts (in Dollars) \| $	$ 1,040		$ 616
Redeemable convertible preferred shares, par value (in New Shekels per share) \| ₪ / shares		₪ 0.00001		₪ 0.00001
Redeemable convertible preferred shares, shares authorized	39,779,261		39,779,261
Redeemable convertible preferred shares, shares issued	39,779,261		39,779,261
Redeemable convertible preferred shares, shares outstanding	39,779,261		39,779,261
Redeemable convertible preferred shares, liquidation preference value (in Dollars) \| $	$ 134,411		$ 134,411
Share capital, par value (in New Shekels per share) \| ₪ / shares		0.00001		0.00001
Share capital, shares authorized	3,454,112,863		3,454,112,863
Share capital, shares issued	187,680,294		187,680,294
Share capital, shares outstanding	124,671,507		124,671,507
Treasury stock, par value (in New Shekels per share) \| ₪ / shares		₪ 0.00001		₪ 0.00001
Treasury stock, ordinary shares	43,540		43,540

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue:
Subscription services	$ 120,889	$ 100,614	$ 81,505
Term-license	62,428	29,131	5,142
Perpetual license and other	34,169	42,136	59,175
Professional services	28,760	23,032	26,032
Total revenue	246,246	194,913	171,854
Cost of revenue:
Subscription services	9,369	8,795	6,585
Term-license	2,299	1,709	189
Perpetual license and other	9,817	9,370	10,049
Professional services	21,072	18,005	19,000
Total cost of revenue	42,557	37,879	35,823
Gross profit	203,689	157,034	136,031
Operating expenses:
Sales and marketing	76,389	61,305	61,610
Research and development	65,541	54,377	46,573
General and administrative	47,937	32,134	29,368
Total operating expenses	189,867	147,816	137,551
Operating income (loss)	13,822	9,218	(1,520)
Financial income, net	68,483	2,179	2,935
Income before income tax expense	82,305	11,397	1,415
Income tax expense	10,909	5,616	3,291
Net income (loss)	$ 71,396	$ 5,781	$ (1,876)
Net income (loss) per share:
Basic and diluted net income (loss) per share attributable to ordinary shareholders (in Shares)	70,433	(9,344)	(10,039)
Basic net income (loss) per ordinary share (in Dollars per share)	$ 0.49	$ (0.08)	$ (0.08)
Diluted net income (loss) per ordinary share (in Dollars per share)	$ 0.44	$ (0.08)	$ (0.08)
Weighted average number of ordinary shares used in computing basic net income (loss) per share (in Shares)	144,002,394	123,696,624	121,560,817
Weighted average number of ordinary shares used in computing diluted net income (loss) per share (in Shares)	161,538,579	123,696,624	121,560,817
Other comprehensive income (loss)
Unrealized gain (loss) on hedging transactions, net of taxes of $129 and $165 for the year ended December 31, 2021 and 2020 respectively	$ (944)	$ 1,212	$ 620
Foreign currency translation adjustments	995	(695)	(25)
Total other comprehensive income, net of tax	51	517	595
Total comprehensive income (loss)	$ 71,447	$ 6,298	$ (1,281)

Consolidated Statements of Operations (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Net of taxes	$ 129	$ 165

Statements of Changes in Shareholders’ Equity (Deficiency) - USD ($)
$ in Thousands

Redeemable convertible preferred shares

Ordinary Shares Amount

Share capital

Additional paid-in capital

Treasury stock

Comprehensive income

Retained earnings

Total

Balance at Dec. 31, 2018

$ 119,818,040

^[1]

$ 12,563

$ (23,898)

$ 209

$ 80,343

$ 69,217

Balance (in Shares) at Dec. 31, 2018

Effect of adoption of revenue recognition standard (in Shares)

^[1]

Balance after the adoption of revenue recognition standard as of January 1, 2019

119,818,040

^[1]

^[2]

12,563

(23,898)

209

84,143

73,017

Net income (loss)

^[1]

(1,876)

Foreign currency translation adjustments

^[1]

(25)

Unrealized gain on hedging transactions, net

^[1]

620

Stock based compensation

^[1]

12,759

Exercise of shares option and vested RSUs

3,664,884

^[1]

^[2]

141

Issuance of redeemable convertible preferred shares

$ 101,205

^[1]

Issuance of redeemable convertible preferred shares (in Shares)

39,779,261

Dividend paid

^[1]

(25,000)

Repurchase of ordinary shares

(283,045)

^[1]

^[2]

(808)

Cancellation of ordinary shares

^[1]

^[2]

24,706

(24,706)

Balance at Dec. 31, 2019

$ 101,205

123,199,879

^[1]

^[2]

25,463

804

32,561

58,828

Balance (in Shares) at Dec. 31, 2019

39,779,261

Effect of adoption of revenue recognition standard

^[1]

^[2]

3,800

Net income (loss)

^[1]

5,781

Foreign currency translation adjustments

^[1]

(695)

Unrealized gain on hedging transactions, net

^[1]

1,212

Stock based compensation

^[1]

7,271

Exercise of shares option and vested RSUs

1,513,404

^[1]

^[2]

1,492

Dividend paid

(10,000)

Repurchase of ordinary shares

(41,776)

^[1]

^[2]

(85)

Balance at Dec. 31, 2020

$ 101,205

124,671,507

^[1]

^[2]

34,226

(85)

1,321

28,342

63,804

Balance (in Shares) at Dec. 31, 2020

39,779,261

Net income (loss)

^[1]

71,396

Foreign currency translation adjustments

^[1]

995

Unrealized gain on hedging transactions, net

^[1]

(944)

Stock based compensation

^[1]

6,480

Exercise of shares option and vested RSUs

2,804,827

^[1]

^[2]

2,305

Dividend paid

^[1]

(78,700)

(21,300)

(100,000)

Recapitalization transaction with TWC

20,424,699

^[1]

(213,722)

Issuance costs

^[1]

(4,866)

Conversion of preferred shares

$ (101,205)

39,779,261

^[1]

101,205

Conversion of preferred shares (in Shares)

(39,779,261)

Balance at Dec. 31, 2021

$ 187,680,294

^[1]

$ (153,072)

$ (85)

$ 1,372

$ 78,438

$ (73,347)

Balance (in Shares) at Dec. 31, 2021

[1]	Prior period results have been retroactively adjusted to reflect the 1:1.0422 reverse stock split effected on August 30, 2021. See also Note 12, Shareholders’ Equity, for details.
[2]	Less than US$ 1.

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income (loss)	$ 71,396	$ 5,781	$ (1,876)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Stock based compensation	6,480	7,271	12,759
Depreciation and amortization	7,007	5,879	4,079
Increase in deferred income taxes	(1,638)	(2,818)	(1,667)
Other		689
Revaluation of derivative warrants	(11,967)
Revaluation of Restricted Sponsor Shares and Price Adjustment Shares liabilities	(55,906)
Increase (decrease) in liability for employees’ severance benefits	10	(63)	131
Increase in trade receivables	(1,958)	(19,731)	(12,220)
Increase in deferred revenues	21,804	47,738	15,841
Decrease (increase) in prepaid expenses and other current assets	(8,304)	335	(3,141)
Increase in other non-current assets	(1,394)	(339)	(27)
Decrease (increase) in inventories	(1,798)	(693)	794
Increase (decrease) in trade payables	4,239	(1,433)	974
Increase (decrease) in other accounts payables and accrued expenses	5,107	22,449	(158)
Increase in other long-term liabilities	2,974	1,445	644
Net cash provided by operating activities	36,052	66,510	16,133
Cash flows from investing activities:
Purchases of property and equipment	(5,111)	(6,181)	(6,209)
Payment related to business combination, net of cash acquired	(20,000)	(15,046)
Purchase of intangible asset	(3,000)
Short term deposits, net	73,337	14,778	(40,513)
Net cash provided by (used in) investing activities	45,226	(6,449)	(46,722)
Cash flows from financing activities:
Repurchase of common stock		(85)	(808)
Proceeds from exercise of shares	2,305	1,492	141
Proceeds from issuance of Redeemable convertible preferred shares, net of issuance costs			101,205
Payment of dividend	(100,000)	(10,000)	(25,000)
Proceeds from Recapitalization transaction, net	29,298
Net cash provided by (used in) financing activities	(68,397)	(8,593)	75,538
Net increase in cash, cash equivalents and restricted cash	12,881	51,468	44,949
Net effect of currency translation on cash, cash equivalents and restricted cash	(754)	695	(67)
Cash, cash equivalents and restricted cash at beginning of year	133,846	81,683	36,801
Cash and cash equivalents and restricted cash at end of year	145,973	133,846	81,683
Supplemental disclosure of cash flow information:
Income taxes paid, net of refund	8,157	2,911	3,000
Supplemental disclosure of Non-cash investment activities:
Purchase of property and equipment	$ 814	$ 172	$ 263

General

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Disclosure [Abstract]

General

Note 1. General

a. Cellebrite DI Ltd. (the “Company”), an Israeli company, was incorporated on April 13, 1999 as a private company, and began its operations in July 1999. The Company and its wholly owned subsidiaries are engaged in the development, manufacturing, marketing and selling of software and related hardware devices which allow access, unify, generate and analyze defendable digital evidence to its law enforcement customers. The Company’s primary shareholder is SUNCORPORATION, a public Company traded in the Japanese market, that creates novel ideas based on original technologies.

b. On February 28, 2020, the Company completed the acquisition of 100% of the shares of BlackBag Technologies Inc. (“BlackBag”), a US computer collection and review solutions company, for the total base consideration $33,362. See also Note 3A.

c. On August 30, 2021, the Company merged with TWC Tech Holdings II Corp. (“TWC”). As a result of the merger as agreed in the Merger Agreement, TWC became a direct, wholly owned subsidiary of the Company. Consequently, Cellebrite’s shares and warrants became listed on The Nasdaq Capital Market under the symbols “CLBT” and “CLBTW”, respectively. See also Note 3B.

The merger is accounted as a recapitalization, with no goodwill or other intangible assets recorded, in accordance with U.S. GAAP. Under this method of accounting, Cellebrite has been determined to be the accounting acquirer.

d. On November 11, 2021, the Company completed the acquisition of Digital Clues LTD. (“DC”) carved out assets, for a total consideration of $20,000. DC is an open-source intelligence providing the ability to view any online information to collect, analyze, and produce actionable intelligence. See also Note 3C.

e. In March 2020, the World Health Organization (”WHO”) declared the novel coronavirus COVID-19 (“COVID-19”) a global pandemic. The pandemic adversely affected workforce, economies, and financial markets globally in 2020 and, until contained, is still expected to disrupt general business operations. The COVID-19 pandemic and the ongoing measures being taken by many governments around the world in response could in the future meaningfully impact our business, installations, trainings and general operations . It is not possible at this time to estimate the full impact that COVID-19 will have on the Company’s business, as the impact will depend future developments, which are highly uncertain and cannot be predicted. Actual results could differ from our estimates and judgments, and any such differences may be material to our financial statements.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2. Summary of Significant Accounting Policies

A. Basis of presentation

The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (US GAAP). The significant accounting policies followed in the preparation of the financial statements, applied on a consistent basis for all years presented in these financial statements.

B. Functional Currency and Foreign Currency Translation

A majority of the Company’s revenues are generated outside of Israel and are denominated in US dollars (“US$” or “dollars”). Substantial portion of materials and components cost, and marketing costs, are denominated in dollars or dollar-linked. Therefore, the Company’s management believes that the US dollars is the currency of the primary economic environment in which the Company operates. Thus, the functional currency and the reporting currency of the Company is the US dollar.

Transactions in foreign currency are translated into dollars in accordance with the principles set forth in ASC Subtopic 830-20, Foreign Currency Transaction. Monetary assets and liabilities denominated in foreign currencies of the reporting date are translated to the functional currency at the closing rate at the end of the reporting period. Non-monetary assets and liabilities denominated in foreign currency are translated using the exchange rate at the date of the transaction.

The effect of the translating into dollars has been included in the consolidated statements of shareholders’ equity and comprehensive income (loss) as a foreign currency translation adjustment. Gains and losses from remeasurement assets and liabilities denominated in currencies other than the respective functional currencies are included in the consolidated statements of operations.

C. Use of estimates

The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods and accompanying notes. Actual results could differ from those estimates.

Significant items subject to such estimates and assumptions include, but are not limited to, the allocation of transaction price among various performance obligation, the fair value of acquired intangible assets and goodwill, share-based compensation, unrecognized tax benefits, fair value measurement of restricted sponsor shares liability, price adjustment shares liability and derivative warrant liabilities.

D. Principles of consolidation

The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions and balances were eliminated in consolidation.

E. Cash and cash equivalents and restricted cash

The Company considers all highly liquid instruments with a maturity of three months or less at the date of purchase to be cash equivalents.

Restricted cash consists of funds that are contractually restricted as to usage or withdrawal mainly due to a contractual agreement with an investor. The Company has presented restricted cash separately from cash and cash equivalents in the consolidated balance sheets.

F. Trade Receivable

Trade receivables are recorded at the invoiced amount net of allowance for doubtful accounts. The allowance for doubtful accounts is based on the Company’s assessment of in the collectability of accounts. The Company regularly reviews the adequacy of the allowance for doubtful accounts based on combination of factors, including as assessment of the current customer’s aging report, the nature and size of the customer, the financial condition of the customer and the amount of any receivables in dispute. Trade receivables deemed uncollectible are charged off against the allowance for doubtful accounts after all means of collection have been exhausted and the potential for recovery is considered remote.

G. Inventories

Inventories are stated at the lower of cost or net realizable value. Cost is determined by the “weighted moving average” method. Inventory write-downs are provided to cover technological obsolescence, excess inventories and discontinued products.

Inventory write-down is measured as the difference between the cost of the inventory and market based upon assumptions about future demand, and is charged to cost of revenues. At the point of the loss recognition, a new, lower-cost basis for that inventory is established, and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established cost basis.

H. Property and equipment

Property and equipment are stated at cost less accumulated depreciation. Depreciation is calculated by the straight-line method over the estimated useful lives of the assets, at the following annual rates:

		%
Computers and software		12.5 – 33
Manufacturing equipment		7
Office furniture and equipment		7 – 15
Leasehold improvements		*

___________

* Over the shorter of the expected lease term or estimated useful lives.

I. Impairment of long-lived assets

Long-lived assets, such as property and equipment, and identifiable intangible assets subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable in accordance with ASC 360, Accounting for the impairment of Long-Lived Assets. If events of changes in the circumstances indicate that a long-lived asset or asset group value may not be recoverable, the Company compares aggregate undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If these cash flows are less than the carrying value, an impairment is recognized for the difference between the carrying value and the estimated fair value. Fair value is determined through discounted cash flow models and third-party independent appraisals, as considered necessary. The measurement of impairment requires management to estimate future cash flows and the fair value of long-lived assets. The evaluation is performed at the lowest levels for which there are identifiable, independent cash flows.

During the year ended December 31, 2021, 2020 and 2019, no impairment losses have been identified.

J. Revenue recognition

The Company’s revenues are comprised of four main categories: (a) subscription revenues, including support services (updates, upgrades and technical support) on term-based licenses and perpetual licenses; (b) subscription revenues also from sales of term-based licenses; (c) perpetual licenses (and others); and (d) professional services.

The Company recognizes revenue pursuant to the five-step framework contained in ASC 606, Revenue from Contracts with Customers: (i) identify the contract with a client; (ii) identify the performance obligations in the contract, including whether they are distinct in the context of the contract; (iii) determine the transaction price, including the constraint on variable consideration; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies the performance obligations

The Company sells its products to its customers either directly or indirectly through distribution channels all of whom are considered end users.

In accordance with ASC 606, revenue is recognized when a customer obtains control of promised goods or services are delivered. The amount of revenue recognized reflects the consideration that the Company expects to receive in exchange for these goods or services.

The Company determines that it has a contract with a customer when each party’s rights regarding the products or services to be transferred can be identified, the payment terms for the services can be identified, the Company has determined the customer has the ability and intent to pay, and the contract has commercial substance. At contract inception, the Company evaluates whether two or more contracts should be combined and accounted for as a single contract and whether the combined or single contract includes more than one performance obligation.

Performance obligations promised in a contract are identified based on the products and services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the products or services either on their own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the products and services is separately identifiable from other promises in the contract.

The Company’s software licenses either provide its customers a perpetual right to use its software or the right to use its software for only a fixed term, in most cases between a one- and three-year time frame. The Company concluded that the software license is distinct as the customer can benefit from the software on its own.

Support revenue is derived from providing technical customer support services, unspecified software updates and upgrades to customers several times a year, on a when-and-if-available basis. Performance obligations related to software maintenance services generally have a consistent continuous pattern of transfer to a customer during the contract period.

Professional services revenues primarily consist of training and other professional services. Each of these performance obligations provide benefit to the customer on a standalone basis and are distinct in the context of the contract.

The transaction price is determined based on the consideration to which the Company expects to be entitled in exchange for transferring products or delivery of services to the customer. Payment terms generally are net 30 days. The Company applied the practical expedient in ASC 606 and did not evaluate payment terms of one year or less for the existence of a significant financing component. Revenue is recognized net of any taxes collected from customers which are subsequently remitted to governmental entities (e.g., sales tax and other indirect taxes). The Company does not offer right of return to its contracts.

If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. For contracts that contain multiple performance obligations, the Company allocates the transaction price to each performance obligation based on the relative standalone selling price (“SSP”) for each performance obligation. The Company uses judgment in determining the SSP for its products and services. The Company typically assesses the SSP for its products and services on a periodic basis or when facts and circumstances change. To determine SSP, the Company maximizes the use of observable standalone sales and observable data, where available. In instances where performance obligations do not have observable standalone sales, the Company utilizes available information that may include the entity specific factors such as assessment of historical data of bundled sales of software licenses with other promised goods and services, and pricing strategies to estimate the price the Company would charge if the products and services were sold separately.

The Company satisfies performance obligations either over time or at a point in time depending on the nature of the underlying promise. Revenue is recognized at the time the related performance obligation is satisfied by transferring a promised good or service to a customer. Revenues related to the license for proprietary software are recognized when the control over the license is provided to the customer and the license term begins. Revenue related to software update and upgrades are recognized ratably over the service period. Revenues related to other professional services are generally recognized over time and in certain cases at point in time upon satisfaction of the performance obligation. Service revenues are included in the Company’s consolidated statements of income as service revenues.

Disaggregation of Revenues

The following table provides information about disaggregated revenue by geographical areas

	Year Ended December 31,
	2021		2020		2019
EMEA	$	88,441	$	65,807	$	55,911
America		126,929		100,835		89,514
APAC		30,876		28,271		26,429
Total	$	246,246	$	194,913	$	171,854

Contract Balances

The following table provides information about accounts receivable, contract assets, and contract liabilities from contracts with customers:

	December 31, 2021		December 31, 2020
Contract assets	$	8,567	$	3,967
Contract liabilities, current		122,983		105,543
Contract liabilities, non-current	$	36,426	$	33,439

Contract assets consist of unbilled accounts receivable, which occur when a right to consideration for the Company’s performance under the customer contract occurs before invoicing to the customer. The increase in contract balances is consistent with the increase in the overall operation of the Company.

Contract liabilities consist of deferred revenue. Revenue is deferred when the Company invoices in advance of performance under a contract. The current portion of the deferred revenue balance is recognized as revenue during the 12-month period after the balance sheet date. The non current portion of the deferred revenue balance is recognized as revenue following the 12-month period after the balance sheet date. Of the $138,982 and $159,409 of deferred revenue as of December 31, 2020 and December 31, 2019, respectively, the Company recognized $97,823 and $61,964 as revenue during the year ended December 31, 2021 and 2020, respectively.

Remaining Performance Obligations

The Company’s remaining performance obligations are comprised of product and services revenue not yet delivered. As of December 31, 2021 and December 31, 2020, the aggregate amount of the transaction price allocated to remaining performance obligations was $231,666 and $172,885 respectively, which consists of both billed consideration in the amount of $159,409 and $138,982 respectively, and unbilled consideration in the amount of $72,257 and $33,903 respectively, that the Company expects to recognize as revenue. As of December 31, 2021, the Company expects to recognize 61% of its remaining performance obligations as revenue in the year ended December 31, 2022 and the remainder thereafter.

Contract acquisition costs

The Company capitalizes sales commissions and associated payroll taxes paid to sales personnel that are incremental to obtaining customer contracts. These costs are recorded as deferred contract acquisition costs on the consolidated balance sheets. The Company determines whether costs should be deferred based on its sales compensation plans and if the commissions are incremental and would not have occurred absent the customer contract.

Sales commissions for the renewal of a contract are considered commensurate with the sales commissions paid for the acquisition of the initial contract given no substantive difference in commission rates in proportion to their respective contract values. Sales commissions paid upon the initial acquisition and for the renewal of a contract are amortized over the contractual term of the initial contract or the renewal.

Amortization of sales commissions are consistent with the pattern of revenue recognition of each performance obligation and are included in sales and marketing expense in the consolidated statements of operations.

The Company periodically reviews these deferred contract acquisition costs to determine whether events or changes in circumstances have occurred that could impact the period of benefit. No impairment losses of capitalizes sales commissions were recorded during the periods presented.

Commission expenses for the year ended December 31, 2021, 2020 and 2019 were $10,700, $8,400 and $6,800 respectively.

K. Research and development costs

Research and development costs are expensed as incurred. As defined by ASC Subtopic 985-20 “Accounting for the Cost of Computer Software to be Sold, Leased or Otherwise Marketed”, costs associated with the development of computer software which are incurred subsequent to the establishment of technological feasibility, are capitalized thereafter until the product is available for general release to customers. Costs incurred by the Company between completion of the development and the point at which the product is ready for general release, have been insignificant. Therefore, all research and development costs are expensed as incurred.

L. Product warranties

The Company provides a one-year warranty on most of its products. Estimated future warranty costs are accrued and charged to cost of goods sold in the period that the related revenue is recognized. These estimates are derived from historical data and trends of product reliability and costs of repairing and replacing defective products.

M. Advertising expenses

Advertising expenses are charged to expense as incurred. Advertising expenses for the years 2021, 2020 and 2019 were $5,274, $4,098 and $5,315 respectively.

N. Income taxes

The Company accounts for income taxes in accordance with ASC 740, “Income Taxes”. ASC 740 prescribes the use of the liability method whereby deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period of enactment. A valuation allowance is provided, if necessary, to reduce deferred tax assets to the amount that is more likely than not to be realized. Deferred tax assets and deferred tax liabilities are presented under long-term assets.

The Company implements a two-step approach to recognize and measure uncertainty in income taxes. The first step is to evaluate the tax position taken or expected to be taken in a tax return by determining if the weight of available evidence indicates that it is more likely than not that, on an evaluation of the technical merits, the tax position will be sustained on audit, including resolution of any related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount that is greater than 50 percent (cumulative basis) likely to be realized upon settlement. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company classifies interest and penalties related to unrecognized tax benefits as part of income taxes.

O. Stock-Based Compensation

The Company accounts for stock-based compensation in accordance with ASC Topic 718 (ASC718). ASC 718 requires that all stock-based compensation be recognized as an expense in the financial statements and that such cost be measured at the fair value of the award. The Company recognizes compensation expense on a straight line method.

The fair value of the shares of ordinary shares underlying the stock options has historically been determined by the Company’s board of directors as there was no public market for the underlying ordinary shares. The Company’s board of directors determines the fair value of the Company’s ordinary shares by considering a number of objective and subjective factors including: contemporaneous third-party valuations of its ordinary shares, the valuation of comparable companies, sales of the Company’s ordinary and redeemable convertible preferred shares to outside investors in arms-length transactions, the Company’s operating and financial performance, the lack of marketability, and general and industry specific economic outlook, amongst other factors.

For all share options granted, the Company calculated the expected term using the simplified method for “plain vanilla” stock option awards. The risk-free interest rate is based on the yield available on U.S. Treasury zero-coupon issues similar in duration to the expected term of the stock-based award. The Company calculates the fair value of share options on the date of grant using the Black-Scholes option-pricing model and the expense is recognized over the requisite service period for awards expected to vest using the straight line method. The Company utilized a dividend yield of 0-5%.

Stock based compensation costs have been included in income from operations.

P. Fair value measurements

The Company accounts for fair value in accordance with ASC 820, “Fair Value Measurements and Disclosures”. Fair value is defined under ASC 820 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value under ASC 820 must maximize the use of observable inputs and minimize the use of unobservable inputs. The Company uses a three-tier hierarchy, which prioritizes the inputs used in measuring fair value as follows:

• Level 1: Quoted prices in active markets for identical assets or liabilities.

• Level 2: Inputs other than Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability.

• Level 3: Unobservable inputs for the asset or liability used to measure fair value that are supported by little or no market activity and that re significant to the fair value of the asset or liability at measurement date.

The first two levels in the hierarchy are considered observable inputs and the last is considered unobservable. The carrying value of accounts receivable and payables and the Company’s cash and cash equivalents, restricted cash and short-term investments, approximates fair value due to the short time to expected payment or receipt of cash.

Derivative warrant liabilities

Upon the closing of the transaction, 20,000,000 public warrants and 9,666,667 private warrants, that were both issued by TWC prior to the transaction, were outstanding to purchase the Company’s ordinary shares. Each warrant entitles the holder to purchase one Company Ordinary Share at a price of $11.50 per share, subject to adjustments. The warrants are exercisable at any time commencing 30 days after the completion of the transaction and expire five years after the Closing Date or earlier upon redemption or liquidation. The Company may redeem the outstanding public warrants in whole and not in part at a price of $0.01 per warrant at any time after they become exercisable, provided that the last sale price of the Company ordinary shares equals or exceeds $18 per share, subject to adjustments, for any 20-trading days within a 30-trading day period ending three business days prior to the date on which the Company sends the notice of redemption to the warrant holders. The private warrants have similar terms as the public warrants, except that the private warrants may be exercised for cash or on a cashless basis at the holder’s option and the private warrants will not be redeemed by the Company as long as they are held by the initial purchasers or their permitted transferees, but once they are transferred, they have the same rights as the public warrants. As the private warrants include provisions that provide for potential changes to the settlement amounts that are dependent on the characteristics of the holder of the warrant, under ASC Section 815-40, those warrants are not indexed to the Company’s ordinary shares in the manner contemplated by that Section, so long as they are held by the initial purchasers or their permitted transferees.

The Public Warrants may be exercised with a different mechanism, depends on whether the Company maintain an effective registration statement or not. Since, among other things, the fact whether the Company maintains an effective registration statement effect the settlement provision of the Public Warrants (i.e., the cap is applicable depends on whether the registration statement is effective or not), is not an input into the pricing of fixed for fixed option model on equity shares, the Public Warrants are precluded from being indexed to the Company’s own stock and should be classified as a liability.

Therefore, the public and private warrants were classified as a liability measured at fair value pursuant to ASC 480 “Distinguishing Liabilities from Equity” and ASC 815 “Derivatives and Hedging”.

	Public Warrants		Private Placement Warrants			Total Derivative Warrant liability
Warrant liability assumed from the Business Combination	$	34,400	$	34,045		$	68,445
Change in fair value of warrant liability		800		(12,767	)		(11,967	)
Balance, December 31, 2021	$	35,200	$	21,278		$	56,478

The estimated fair value of the private placement warrant derivative liabilities is determined using Level 3 inputs. Inherent in a Black-Scholes valuation model are assumptions related to expected stock-price volatility, expiration, risk-free interest rate and dividend yield. The Company estimates the volatility of its common stock based on historical volatility of select peer companies that matches the expected remaining life of the warrants. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve on

the grant date for a maturity similar to the expiration of the warrants. The dividend yield is based on the historical rate, which the Company anticipates will remain at 0-5%. The following table provides quantitative information regarding Level 3 fair value measurements inputs as their measurement dates:

				As of December 31, 2021
		Number of private placement warrants		9,666,667
		Exercise price		$ 11.5
		Share price		$ 8.02
		Expiration term (in years)		4.66
		Volatility		44.8 %
		Risk-free Rate		1.22 %
		Dividend yield		0 % – 5 %

Restricted sponsor shares liability and Price adjustment shares

7,500,000 Ordinary Shares issued to the Sponsor, out of a total of 13,500,000 shares, are Restricted Shares and will vest in 3 tranches of 3,000,000, 3,000,000 and 1,500,000, upon achievement of the of the triggering events (as defined in the business combination agreement); if at any time during the Price Adjustment Period the price of Cellebrite Ordinary Shares will be greater than or equal to $12.50, $15.00 and $30.00, respectively, over any twenty trading days within any thirty trading day period. In the event of a post-Closing change of control transaction involving the Company, any Restricted Shares not previously vested will vest and will be entitled to participate in the change of control transaction. The probability of such event was considered by the Company. Upon the expiration of the Price Adjustment Period (a period of seven years), any unvested Cellebrite Shares that have not vested as of such time will be forfeited. Cellebrite security holders shall be entitled to vote their unvested Restricted Shares and receive dividends and other distribution, and to have all other economic rights, in each case, with respect to such Restricted Shares while they remain unvested.

Holders of the Company’s Ordinary Shares and vested Restricted Share Units, in each case as of immediately prior to the effective time, are eligible to receive up to 15,000,000 Ordinary Shares that will vest in 3 tranches of 5,000,000 upon achievement of the of the triggering events (if at any time during the Price Adjustment Period the price of Cellebrite Ordinary Shares will be greater than or equal to $12.50, $15.00 and $30.00, respectively, over any twenty trading days within any thirty trading day period.) or upon a Change of Control (as defined in business combination agreement) before the five (5) year anniversary of the Closing Date; The probability of such event was considered by the Company.

Following the Merger, the Company issued equity and debt instrument. Transaction expenses were allocated on a relative fair value basis.

	Restricted sponsor shares			Price adjustment shares			Total
Earn out shares assumed from the Business Combination	$	62,347		$	117,675		$	180,022
Change in fair value of warrant liability		(17,635	)		(38,271	)		(55,906	)
Balance, December 31, 2021	$	44,712		$	79,404		$	124,116

Q. Derivative instruments

The Company has instituted a foreign currency cash flow hedging program using foreign currency forward contracts (“derivative instruments”) in order to hedge the exposure to variability in expected future cash flows resulting from changes in related foreign currency exchange rates. The Company hedges portions of its forecasted expenses denominated in NIS. These transactions are designated as cash flow hedges, as defined under ASC 815, “Derivatives and Hedging”.

As of December 31, 2021 and 2020, the amount recorded in accumulated other comprehensive income from the Company’s currency forward, net of tax, was $577 and $1,521, respectively.

As of December 31, 2021, the notional amounts of foreign exchange forward contracts into which the Company entered were $15,623. The foreign exchange forward contracts will expire by May 13, 2022.

The fair value of derivative instruments assets balances as of December 31, 2021 and 2020, totaled $964 and $2,016, respectively.

R. Goodwill

Goodwill represents the excess of the purchase price in a business combination over the fair value of the net tangible and intangible assets acquired. Under ASC 350, “Intangible — Goodwill and Other”, goodwill is not amortized, but rather is subject to an annual impairment test.

ASC 350 requires goodwill to be tested for impairment at the reporting unit level at least annually, the fourth quarter, or between annual tests in certain circumstances, and written down when impaired. Goodwill is tested for impairment by comparing the fair value of the reporting unit with its carrying value. The Company has determined that it has one operating segment and one reporting unit.

ASC 350 allows an entity to first assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. If the qualitative assessment does not result in a more likely than not indication of impairment, no further impairment testing is required. If it does result in a more likely than not indication of impairment, the two-step impairment test is performed.

Alternatively, ASC 350 permits an entity to bypass the qualitative assessment for any reporting unit and proceed directly to performing the first step of the goodwill impairment test. There were no impairment charges to goodwill during the period presented.

S. Intangible assets

Intangible assets are amortized over their estimated useful lives using the straight-line method, at the following annual period ranges:

		Years
Core technology		5 – 7
Trade name		4
Customer relationship		10

Each period the Company evaluates the estimated remaining useful lives of its intangible assets and whether events or changes in circumstances warrant a revision to the remaining period of amortization.

T. Business combination

The Company applies the provisions of ASC 805, “Business Combination” and allocates the fair value of purchase consideration to the tangible assets acquired, liabilities assumed, and intangible assets acquired based on their estimated fair values. The excess of the fair value of purchase consideration over the fair

values of these identifiable assets and liabilities is recorded as goodwill. When determining the fair values of assets acquired and liabilities assumed, the Company estimated the future expected cash flows from acquired core technology and acquired trade name from a market participant perspective, useful lives and discount rates. In addition, management makes significant estimates and assumptions, which are uncertain, but believed to be reasonable.

Significant estimates in valuing certain intangible assets include, but are not limited to future expected cash flows from acquired technology and acquired trademarks from a market participant perspective, useful lives and discount rates. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates.

Acquisition-related costs are recognized separately from the acquisition and are expensed as incurred.

U. Concentrations of credit risk

Financial instruments that potentially expose the Company and its subsidiaries to concentrations of credit risk consist principally of cash and cash equivalents, short-term investments, restricted cash, trade receivables and other receivables. The majority of the Company’s cash and cash equivalents are maintained in U.S. dollar. Generally, these cash and cash equivalents and short term investment may be redeemed upon demand. Management believes that the financial institutions that hold the Company’s and its subsidiaries’ cash and cash equivalents are institutions with high credit standing, and accordingly, minimal credit risk exists with respect to these assets. The Company’s trade receivables are geographically diversified and derived from sales to customers all over the world. The Company and its subsidiaries generally do not require collateral; however, in certain circumstances, the Company and its subsidiaries may require letters of credit, additional guarantees or advance payments.

V. Segment reporting

The Company identifies operating segments in accordance with ASC Topic 280, “Segment Reporting” as components of an entity for which discrete financial information is available and is regularly reviewed by the chief operating decision maker, or decision-making group, in making decisions regarding resource allocation and evaluating financial performance. The Company defines the term “chief operating decision maker” to be its chief executive officer. The Company determined it operates in one operating segment and one reportable segment, as its chief operating decision maker reviews financial information presented only on a consolidated basis for purposes of allocating resources and evaluating financial performance.

W. Basic and diluted net income (loss) per share

The Company computes basic income (loss) per share in accordance with ASC Topic 260, “Earnings per Share” by dividing the income (loss) attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the year. Diluted income (loss) per share is computed by taking into account the potential dilution that could occur upon the exercise of share options and vesting of RSUs granted under share based compensation plans using the treasury stock method.

Basic and diluted income (loss) per share was presented in conformity with the two class method for participating securities for the year ended December 31, 2021, 2020 and 2019, as a result of a dividend distribution.

The potentially dilutive share options to purchase ordinary shares that were excluded from the computation amounted to 9,995,236, 31,728,133 and 29,276,607 for the years ended December 31, 2021, 2020 and 2019, respectively, because including them would have been anti dilutive.

The Earn-Out Shares, which were subject to the occurrence of certain conditions, were excluded from the diluted net income per share calculation for the year ended December 31, 2021, because the Earn-Out Shares conditions were not met at the end of the reporting period.

Public warrants and Private warrants, were excluded from the diluted income per share for the year ended December 31, 2021, as the inclusion would have been anti dilutive.

X. Recently issued accounting pronouncements

As an “Emerging growth company,” the Jumpstart Our Business Startups Act (“JOBS Act”) allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. The Company has elected to use this extended transition period under the JOBS Act. The adoption dates discussed below reflect this election.

Recently adopted accounting pronouncements:

• On October 28, 2021, the FASB issued ASU 2021-08, which amends ASC 805 to require acquiring entities to apply ASC 606 to recognize and measure contract assets and contract liabilities in a business combination. Under previously effective GAAP, an acquirer recognizes such items at fair value on the acquisition date.

ASU 2021-08 amends ASC 805 to add contract assets and contract liabilities to the list of exceptions to the recognition and measurement principles that apply to business combinations and to require that an entity (acquirer) recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC 606.

The Company allocated the transaction price to each performance obligation based on the standalone selling price at the acquisition date.

As a result of the amendments, it is expected that an acquirer will generally recognize and measure acquired contract assets and contract liabilities (deferred revenue) in a manner consistent with how the acquiree recognized and measured them in its preacquisition financial statements. In addition, as a result of the amendment, acquirer likely would subsequently recognize the same amount of revenue that the acquiree would have recognized if no business combination took place.

The ASU will be effective for fiscal years beginning after December 15, 2022 and interim periods therein for public business entities.

The Company early adopted the standard in 2021. Acquisitions of businesses assumed during the year ended December 31, 2021 were presented in conformity with the provisions of the standard.

Recently issued accounting pronouncements not yet adopted:

• In February 2016, the FASB issued ASU 2016-02, “Leases” (“ASC 842”), on the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e., lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of twelve (12) months or less will be accounted for in a manner similar to the accounting under the prior guidance (ASC 840). The new standard requires lessors to account for leases using an approach that is substantially equivalent to ASC 840 guidance for sales-type leases, direct financing leases and operating leases. The new standard supersedes the previous leases standard, ASC 840, “Leases”. The

standard is effective for the annual periods beginning on or after January 1, 2022. The Company expects adoption of the ASU to have a material impact on its consolidated balance sheet, which will result in the recognition of ROU assets and lease liabilities of approximately $16,400 on January 1, 2022. The main impact of the ASU pertains to the recognition of an ROU asset and a lease liability arising from the Company’s office building lease agreement. Further, the Company expects its financial income (expenses), net to be impacted by foreign exchange gain and losses arising from its non-USD denominated lease liabilities.

• In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.

ASU 2016-13 amends the impairment model to utilize an expected loss methodology in place of the currently used incurred loss methodology, which will result in the more timely recognition of losses. The new accounting standard will be effective for the fiscal year beginning on January 1, 2023, including interim periods within that year. The Company does not plan to early adopt the ASU and is assessing the impact of the standard.

• In December 2019, the FASB issued ASU 2019-12 to simplify the accounting for income taxes. The guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences related to changes in ownership of equity method investments and foreign subsidiaries. The guidance also simplifies aspects of accounting for taxes partially based on income and enacted changes in tax laws or rates, and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The standard will be effective for the Company beginning January 1, 2022. The Company does not expect this standard to have a significant impact on the Company’s consolidated financial statements.

Y. Certain comparative figures have been reclassified to conform to the current year presentation.

Business combination

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Business combination

Note 3. Business combination

a. Acquisition of BlackBag Technologies Inc.:

On February 27, 2020, the Company completed the acquisition of 100% of the shares of BlackBag Technologies Inc. (“BlackBag”), a US computer collection and review solutions company, for a total consideration of $33,362. Out of the total consideration, $15,362 was paid in cash at the closing and additional $18,000 will be paid in three installments, $6,000 each year in the first, second and third anniversary of the closing. $13,000 out of the $18,000 are subject to the attainment of certain employee retention and are recognized over two years as payroll expenses and are not included within the total purchase price. Acquisition expenses were $1,848 during 2020 and consist of costs incurred to complete the acquisition and related integration charges. These charges were recorded in general and administrative expenses.

Upon acquisition, BlackBag became a wholly owned subsidiary of the Company. The acquisition was accounted for as a business combination. The Company recorded trade name, core technology and goodwill in the amounts of $4,000, $3,900 and $9,463, respectively. The estimated useful life of the trade name and core technology are 4 years and 7 years, respectively. The Company recognized $1,289 and $1,546 amortization costs related to these intangible assets for the year ended December 31, 2021 and December 31, 2020, respectively.

b. On April 8, 2021, the Company entered into a Business Combination Agreement and Plan of Merger (the “Merger Agreement”) with TWC Tech Holdings II Corp. (“TWC”), a public listed company in Nasdaq and Cupcake Merger Sub, Inc., a new wholly-owned subsidiary of Cellebrite (the “Merger Sub”) in the USA. TWC is a Special Purpose Acquisition Company (SPAC). On August 30, 2021, the Merger was

consummated. Upon the terms and subject to the conditions of the Merger Agreement, at the Effective Time, Merger Sub merged with and into TWC, the separate corporate existence of Merger Sub ceased and TWC became the surviving corporation and a wholly-owned subsidiary of the Company (the “Merger”). TWC became a wholly-owned subsidiary of the Company and the security holders of TWC became security holders of the Company.

On the date of Closing of the Merger (the “Closing”) and prior to the Merger becoming effective by acceptance of the Merger Certificate for filing by the Secretary of State of the State of Delaware, and prior to the Company’s Preferred Share conversion into Ordinary Shares as described below, an initial dividend of $21,300 (“Initial Dividend”) and an additional dividend of $78,700 (“Additional Dividend”) were paid to the holders of Company’s Ordinary Shares, Preferred Shares and vested restricted stock units (“RSU”) (all the “Company Shareholders”).

Immediately after the payment of the Initial Dividend and the Additional Dividend and prior to the Effective Time each Company Preferred Share was automatically converted into Ordinary Share in accordance with the terms in Cellebrite’s Article of Association.

Immediately following such conversion but prior to the Effective Time, the Company effected a reverse stock split of each Company Ordinary Share into such number of Company Ordinary Shares, which set the Ordinary Share value at $10 ( See also Note 12).

Furthermore, Cellebrite issued TWC security holders the following securities at the Effective Time: each Public Share was converted into the right to receive one (1) Ordinary Share (the “Per Share Merger Consideration”).

At the Effective Time each private warrant of TWC and each Public Warrant was converted into a warrant of Cellebrite, exercisable for the amount of Per Share Merger Consideration that the holder thereof would have received if such warrant had been exercisable and exercised immediately prior to the Business Combination. Additionally, each option and restricted stock unit of Cellebrite remain outstanding, subject to adjusted terms to reflect the effect of the Stock Split on Ordinary Shares.

Concurrently with the execution of the Merger Agreement, certain accredited investors (the “PIPE Investors” and each, a “PIPE Investor”) entered into share purchase agreements (the “Share Purchase Agreements” and each, a “Share Purchase Agreement”) pursuant to which the PIPE Investors committed to purchase Ordinary Shares from certain Cellebrite shareholders at a purchase price of $10.00 per share in an aggregate number equal to 30,000,000 and an aggregate purchase price of $300,000 (the “PIPE Investments” and each, a “PIPE Investment”) on the closing date of August 30, 2021 (the “Closing Date”), which were converted into 30,000,000 Ordinary Shares upon the consummation of the Merger (the “PIPE Shares”). The PIPE Investment closed immediately prior to the Merger.

c. Acquisition of Digital Clues carved Out Assets:

On November 11, 2021, the Company completed the acquisition of Digital Clues LTD. (“DC”) carved out assets, for a total consideration of $20,000 . DC is an open-source intelligence providing the ability to view any online information to collect, analyze, and produce actionable intelligence.

The purchase price allocation for the acquisition has been determined as follows:

	Amount
Net assets	$	(890	)
Technology		3,347
Customer relationship		177
Goodwill		17,366
Total	$	20,000

Goodwill is primarily attributable to expected synergies arising from technology integration and expanded product availability to the Company’s existing and new customers. Goodwill is deductible for income tax purpose.

The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition:

	Fair Value		Useful Life
	US$ thousands		In years
Core technology		3,347	7
Customer relationship		177	10
Total identifiable intangible assets	$	3,524

The Company recorded amortization expenses of $67 for the year ended December 31, 2021.

Additionally, the Company incurred transaction costs $267 during the year ended December 31, 2021, which were included in general and administrative expenses in the Consolidated Statements of Operations.

Intangible assets, net

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets, net

Note 4. Intangible assets, net

a. Definite-lived intangible assets:

	December 31, 2021		December 31, 2020
Original amounts:
Core technology	$	10,411	$	4,000
Trade name		3,900		3,900
Customer relationship		177		—
		14,488		7,900
Accumulated amortization:
Core technology		1,470		476
Trade name		1,788		813
Customer relationship		2		—
Intangible assets, net		3,260		1,289
	$	11,228	$	6,611

b. Amortization expense amounted to $1,971, $1,289 and $0 for the years ended December 31, 2021, 2020 and 2019, respectively.

c. The expected future amortization expenses by year related to the intangible assets as of December 31, 2021 are as follows:


2022	$	2,655
2023		2,655
2024		1,843
2025		1,680
2026 and thereafter		2,395
	$	11,228

Short-Term Deposits

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Short-term deposits

Note 5. Short-term deposits

Short-term deposits consist of short-term deposits and restricted deposits. Short-term deposits as of December 31, 2021 and ,2020 amounts to $35,592 and $108,928, respectively. The deposits carry interest rates in 2021 is between 0.1% – 1.55% (2020: 0.27% – 2.47%).

Prepaid Expenses and Other Current Assets

12 Months Ended

Dec. 31, 2021

Prepaid expenses and other current assets [Abstract]

Prepaid expenses and other current assets

Note 6. Prepaid expenses and other current assets

	December 31, 2021		December 31, 2020
Advances to suppliers	$	827	$	163
Prepaid expenses		8,927		4,319
Government institutions		1,662		811
Other		1,402		2,146
	$	12,818	$	7,439

Inventories

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Inventories

Note 7. Inventories

	December 31, 2021		December 31, 2020
Raw materials	$	4,742	$	3,279
Finished goods		1,769		1,475
	$	6,511	$	4,754

Property and Equipment, Net

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property and equipment, net

Note 8. Property and equipment, net

	December 31, 2021			December 31, 2020
Manufacturing equipment	$	526		$	509
Furniture and equipment		8,294			6,898
Leasehold improvements		6,637			6,430
Computers and software		22,735			18,931
		38,192			32,768
Less – accumulated depreciation		(21,436	)		(16,662	)
	$	16,756		$	16,106

Depreciation expenses were $5,036, $4,464 and $3,587 in the year ended December 31, 2021, 2020 and 2019, respectively.

Other Accounts Payable and Accrued Expenses

12 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Other accounts payable and accrued expenses

Note 9. Other accounts payable and accrued expenses

	December 31, 2021		December 31, 2020
Governmental institution	$	2,372	$	2,192
Employees and related expenses		29,725		28,098
Income tax payable		8,235		6,610
Accrued expenses		12,800		11,037
Phantom option units liability		—		538
Advances from customers		695		559
Other		217		78
	$	54,044	$	49,112

Liability for Employees Severance Benefits

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Liability for employees severance benefits

Note 10. Liability for employees severance benefits

a. Under Israeli law and labor agreements, the Company is required to make severance payments to retired or terminated employees and to employees leaving employment in certain other circumstances.

The liability of the Company to pay severance pay to its employees is covered by the provision and by the payment of premiums for insurance policies. The Company makes payments into a general provident fund. The amounts deposited in the provident fund and the amounts paid for insurance policies in the names of the companies include accrued profits and may be withdrawn subject to restrictions determined by law.

b. According to Section 14 to the Severance Pay Law (“Section 14”) in Israel the payment of monthly deposits by a company into recognized severance and pension funds or insurance policies releases it from any additional severance obligation to the employees that have entered into agreements with the company pursuant to such Section 14. Commencing from 2007, the Company has entered into agreements with a majority of its employees in order to implement Section 14.

Therefore, beginning that date, the payment of monthly deposits by the Company into recognized severance and pension funds or insurance policies releases it from any additional severance obligation to those employees that have entered into such agreements and therefore the Company incurs no additional liability since that date with respect to such employees. Amounts accumulated in the pension funds or insurance policies pursuant to Section 14 are not supervised or administrated by the Company and therefore neither such amounts nor the corresponding accrual are reflected in the Company’s Consolidated Financial Statements. In addition, we pay severance benefits to our employees located elsewhere in accordance with local laws and practices of the countries in which they are employed and as a result have no accumulated liability. For the year ended December 31, 2021, 2020 and 2019 severance pay expenses amounted to $4,067, $3,340 and $3,476 respectively.

c. The US Subsidiary has a defined contribution plan (the “Contribution Plan”) under the provisions of Section 401(k) of the Internal Revenue Code (the “Code”) which covers eligible U.S. employees as they are defined in the Contribution Plan. Participants may elect to contribute up to a maximum amount prescribed by the Code. The Company, at its discretion, makes matching contributions equal to the greater of 6% of the participant’s compensation. For the year ended December 31, 2021 and 2020, the Company made 401(k) plan contributions of approximately $1,455, $877 and $774 , respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Commitments

12 Months Ended

Dec. 31, 2021

Commitments [Abstract]

Commitments

Note 11. Commitments

The Company has rent agreements for its offices and plants, that are accounted for as operating leases.

The latest period included in the agreements will end by February 28, 2031. Certain agreements have extension options.

Future minimum lease commitments under non-cancellable operating leases as of December 31, 2021, are as follows:

	US$ thousands
2022	$	4,890
2023		4,251
2024		5,417
2025		2,221
2026 and thereafter		1,722
	$	18,501

Shareholders' Equity (Deficiency) and Redeemable Convertible Preferred Shares

12 Months Ended

Dec. 31, 2021

Stockholders' Equity Note [Abstract]

Shareholders' equity (deficiency) and redeemable convertible preferred shares

Note 12. Shareholders’ equity (deficiency) and redeemable convertible preferred shares

a. Stock Split

On August 30, 2021, the Company’s board of directors approved a 1:1.0422 reverse stock split. As a result, all ordinary shares, Preferred Shares, options for ordinary shares, restricted share unites,exercise price and net income (loss) per share amounts were adjusted retroactively for all periods presented in these condensed consolidated financial statements as if the stock split and change in par value had been in effect as of the date of these condensed consolidated interim financial statements.

b. Ordinary Shares

As of December 31, 2021 and 2020, the Company was authorized to issue 3,454,112,863 shares of par value NIS 0.00001 per share ordinary share. The voting, dividend and liquidation rights of the holders of the Company’s common stock is subject to and qualified by the rights, powers and preferences of the holders of the preferred stock as set forth below.

Common stock confers upon its holders the following rights:

(i.) The right to participate and vote in the Company’s general meetings. Each share will entitle its holder, when attending and participating in the voting to one vote;

(ii.) Dividends or Distribution shall be paid or be made to the holders of Ordinary Shares, shall be in an amount equal the product of the dividend or distribution payable or made on each ordinary share determined as if all preferred shares had been converted into ordinary shares and the number of ordinary shares issuable upon conversion of such preferred share, in each case calculated on the record date for determination of holders entitled to receive such dividend or distribution; and

(iii.) The right to a share in the distribution of the Company’s excess assets upon liquidation pro rata to the par value of the stock held by them.

c. Redeemable Convertible Preferred shares rights

On June 17, 2019, the Company issued 39,779,261 Convertible Preferred shares for $2.765 per share (the “Original Issue Price”) for the total consideration of $101,205 (net of issuance costs).

On June 17, 2019, IGP Saferworld Limited Partnership (hereinafter: “IGP”), an investment vehicle of IGP Capital, a venture capital firm based in Israel, invested $110 million in the Company, in exchange for the Company’s redeemable convertible preferred shares, representing 24.4% of the Company’s outstanding ordinary and preferred shares (see also Note 3b and Note 12b). Following the IGP investment, the Company paid to its employees compensation in the amount of $4,034 includes in other expenses in the consolidated statements of operations and comprehensive income (loss).

On August 30, 2021, immediately before the consummation of the Merger with TWC, the Company’s Preferred Shares were converted into Ordinary Shares.

d. Acquisition of shares by the Company:

During 2019, the Company acquired 295,000 shares from two of its shareholders, who were employed by the Company at the time of purchase. The shares were acquired in a price representing the fair value and the acquisition was presented as “Treasury stock”. The Treasury shares held by the Company were cancelled prior to the IGP investment as details in paragraph 12c. During 2020, the Company acquired 43,540 shares from one of its shareholders, who were employed by the Company at the time of purchase.

e. Option Plan and RSU’s:

On June 17, 2019, the Company adopted a restricted share and restricted share units (“RSU”) Plan and a Share Option Plan. Under the RSU Plan, the maximum aggregate number of Shares that may be issued pursuant to awards under this plan shall initially be 5,756,855 authorized but unissued shares, or such other number as the Board may determine from time to time. As for the Share Option Plan, the Company has reserved a total of 20,761,094 Shares for the purposes of the Plan and for the purposes of any other equity incentive plans which may in the future be adopted by the Company.

On August 1, 2021, The Company adopted the 2021 (the “2021 Plan). The 2021 plan provides for the grant of share options (including incentive share options and non-qualified share options), ordinary shares, RSUs and other share-based awards.

The maximum aggregate number of shares that may be issued pursuant to awards under this 2021 Plan is 28,075,309.

Employee Share Purchase Plan:

In August 2021, the Company adopted the 2021 Employee Share Purchase Plan (“ESPP”). The aggregate number of Shares that may be issued pursuant to rights granted under the Plan shall be 1,871,687 Shares. In addition, on the first day of each calendar year beginning on January 1, 2023 and ending on and including January 1, 2033, the number of Shares available for issuance under the Plan shall be increased by that number of Shares equal to the lesser of (a) 1.0% of the Shares outstanding on the last day of the immediately preceding calendar year, as determined on a fully diluted basis, and (b) such smaller number of Shares as may be determined by the Board. If any right granted under the Plan shall for any reason terminate without having been exercised, the Shares not purchased under such right shall again become available for issuance under the Plan.

The weighted-average fair value of stock-based compensation is based on the single option valuation approach and is estimated on the date of grant using a lattice based option valuation model.

The fair value of options granted during the year ended December 31, 2021, December 31, 2020 and December 31, 2019 were calculated based on the following average assumptions:

	Year ended December 31,
	2021	2020	2019
Contractual period in years	10	10	10
Volatility	35.9% – 52.7%	45.1% – 50.2%	43.1% – 45.2%
Risk free interest rate	1.3% – 1.4%	0.1% – 1.0%	2.2% – 2.8%
Dividend yield	—% – 5%	0% – 5%	0% – 5%
Exercise price	$ 0.00 – $8.270	$2.385 – $5.190	$2.485 – $3.533
Fair value of Ordinary Share	5.41 – $8.270	$1.950 – $5.190	$2.032 – $3.533

Due to the dividend distribution adjustment mechanism, the exercise price is reduced according to the specific option agreement with each employee. The Company used estimated volatility of comparable public companies to estimate the expected volatility used for the lattice model. The risk-free interest rate assumption is based upon the US Treasury yield.

As of December 31, 2021 the aggregate amount of options and RSU outstanding is 27,276,343.

A summary of the Company’s option activity and related information is as follows:

	Number of options	Weighted- average exercise price		Weighted- average remaining contractual term (in years)
Outstanding at December 31, 2020	30,834,504	$	2.724	8.14
Granted	70,678		5.036
Exercised	2,626,573		2.661
Forfeited	2,790,712		2.874
Outstanding at December 31, 2021	25,487,897	$	2.837	7.03
Exercisable at December 31, 2021	16,158,817	$	2.643	6.45

	Number of options	Weighted- average exercise price		Weighted- average remaining contractual term (in years)
Outstanding at December 31, 2019	27,377,797	$	3.033	8.59
Granted	9,909,539		2.215
Exercised	693,101		2.238
Forfeited	5,759,731		3.485
Outstanding at December 31, 2020	30,834,504		2.724	8.14
Exercisable at December 31, 2020	13,828,828		2.618	5.70

The weighted average fair values at grant date of options granted for the year ended December 31, 2021 and 2020; with an exercise price equal to the value at the date of grant were $5.04 and $0.74 per share, respectively.

The total intrinsic value of options exercised during the years 2021 and 2020 was $8,547 and $2,171 respectively.

The aggregate intrinsic value of the outstanding options at December 31, 2021 and 2020, represents the intrinsic value of 25,440,041 and 29,414,990, respectively, outstanding options that are in-the-money as of such dates. The remaining 70,678 and 143,939 outstanding options are out-of-the-money as of December 31, 2021 and 2020, respectively, and their intrinsic value was considered as zero.

A summary of the Company’s RSUs activity is as follows:

	December 31, 2021	December 31, 2020
Unvested at beginning of year	893,629	1,898,810
Granted	1,393,208	257,638
Vested*	178,254	805,716
Forfeited	65,059	457,103
Unvested, at end of year	2,043,524	893,629
__________ * 229,156 RSUs subject to deferral arrangements (“DSUs”) under the 2019 Restricted Share and Restricted Share Units Plan, that were vested as of Dec-31, 2020, and additional 43,356 DSUs that were vested in 2021 are not included in the count of shares, as according to that plan, upon their vesting they remain as a Share Unit and not converted into shares.

The weighted average fair value at grant date of RSUs granted for the year ended December 31, 2020 and 2021 was $1.95 and $8.27 respectively

The total fair value of shares vested during the years 2021 and 2020 was $927 and $4,327, respectively.

As of December 31, 2021, the Company had approximately $20,316 of unrecognized compensation expense related to non-vested stock options and non-vested RSU’s, expected to be recognized over a weighted average period of 3.6 years. The Company did not recognize any tax benefit related to the share-based compensation.

Subsequent to year end, during February, the Company’s board of directors approved additional grant 4,559,059 stock based compensation to its employees.

f. Stock based compensation costs are recorded in the consolidated statements of operations were as follows:

	Year Ended December 31,
	2021		2020		2019
Cost of revenues	$	290	$	304	$	190
Research and development		1,076		1,145		1,212
Sales and marketing		2,332		2,298		2,969
General and administrative		2,782		3,524		8,388
	$	6,480	$	7,271	$	12,759

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Net income (loss) per share

Note 13. Net income (loss) per share

The following table sets forth the computation of basic losses per share:

	Year Ended December 31,
	2021		2020			2019
Numerator:
Net income (loss)	$	71,396	$	5,781		$	(1,876	)
Basic net income attributable to Preferred shareholders		—		15,125			8,163
Basic net income attributable to Restricted sponsor shares		963		—			—
Basic net income (loss) attributable to Ordinary shareholders		70,433		(9,344	)		(10,039	)

Denominator:
Weighted average number of Ordinary shares used in computing basic net income (loss) per share		144,002,394		123,696,624			121,560,817
Basic net income (loss) per share of Ordinary shareholders	$	0.49	$	(0.08	)	$	(0.08	)
Weighted average number of Ordinary shares used in computing diluted net income (loss) per share		161,538,579		123,696,624			121,560,817
Diluted net income (loss) per share of Ordinary shareholders	$	0.44	$	(0.08	)	$	(0.08	)

Revenues

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenues

Note 14. Revenues

	Year Ended December 31,
	2021		2020		2019
Revenues from subscription services	$	120,889	$	100,614	$	81,505
Revenues from term-license		62,428		29,131		5,142
Total revenues from subscription		183,317		129,745		86,647
Revenues from perpetual license and other		34,169		42,136		59,175
Revenues from professional services		28,760		23,032		26,032
	$	246,246	$	194,913	$	171,854

Including related party revenues in the amount of $3,678, $1,865 and $3,662 in 2021, 2020 and 2019, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Cost of revenues

12 Months Ended

Dec. 31, 2021

Cost of revenues [Abstract]

Cost of revenues

Note 15. Cost of revenues

	Year Ended December 31,
	2021		2020		2019
Materials and changes in inventories	$	10,316	$	10,532	$	7,638
Payroll and related expenses		19,754		17,019		14,272
Training expenses		3,885		2,713		5,338
Shipping expenses		1,548		1,543		1,784
Depreciation and Amortization		1,080		1,327		1,501
Inventory write-off		230		150		262
Travel		1,410		866		1,561
Other		4,334		3,729		3,467
	$	42,557	$	37,879	$	35,823

Cost of revenues by revenue type

	Year Ended December 31,
	2021		2020		2019
Cost of revenues from subscription services	$	9,369	$	8,795	$	6,585
Cost of term-license		2,299		1,709		189
Cost of revenues from perpetual license and other		9,817		9,370		10,049
Cost of revenues from professional services		21,072		18,005		19,000
	$	42,557	$	37,879	$	35,823

Sales and marketing

12 Months Ended

Dec. 31, 2021

Sales and marketing [Abstract]

Sales and marketing

Note 16. Sales and marketing

	Year Ended December 31,
	2021		2020		2019
Payroll and related expenses	$	48,901	$	39,991	$	36,559
Sales commissions		10,312		8,246		6,624
Marketing and advertising		5,274		4,098		5,322
Travel and entertainment		2,279		1,276		4,939
Rent and maintenance		2,513		2,640		2,661
Depreciation and amortization		1,872		1,877		824
Vehicle costs		466		423		448
Professional consultants		1,349		808		1,889
Recruiting expenses		1,043		330		859
Other		2,380		1,616		1,485
	$	76,389	$	61,305	$	61,610

Research and development

12 Months Ended

Dec. 31, 2021

Research and development [Abstract]

Research and development

Note 17. Research and development

	Year Ended December 31,
	2021		2020		2019
Payroll and related expenses	$	53,683	$	45,716		39,142
Rent and maintenance		1,851		2,117		1,721
Subcontractors and projects		3,482		2,676		2,398
Travel and entertainment		185		20		314
Vehicle costs		232		270		355
Recruiting expenses		178		127		222
Depreciation and amortization		2,100		1,813		1,135
Other		3,830		1,638		1,286
	$	65,541	$	54,377	$	46,573

General and administrative

12 Months Ended

Dec. 31, 2021

General and Administrative [Abstract]

General and administrative

Note 18. General and administrative

	Year Ended December 31,
	2021		2020		2019
Payroll and related expenses	$	19,366	$	18,460		16,386
Professional fees		4,307		4,274		2,040
Vehicle costs		469		328		263
Rent and maintenance		1,559		2,147		2,071
Travel and entertainment		249		262		425
Refreshments, gifts and donations		525		778		645
Doubtful accounts and bad debts		676		606		266
Recruiting expenses		727		330		386
Depreciation		1,955		978		484
Issuance costs		11,835		—		—
Other		6,269		3,971		6,402
	$	47,937	$	32,134	$	29,368

Taxes on income

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Taxes on income

Note 19. Taxes on income

A. Israeli taxation

1. Corporate tax rates in Israel:

The tax rates relevant to corporations in Israel in the years 2021, 2020 and 2019 is 23%. However, the effective tax rate reported by a company that derives income from a Preferred Enterprise or Preferred Technological Enterprise (as discussed below) is lower.

2. Tax benefits under the Law for Encouragement of Capital Investments, 1959 (“the Investment Law”) Approved/Beneficiary Enterprise

Pursuant to the Investment Law, the Company was awarded “Approved Enterprise” and “Beneficiary Enterprise” status under the government alternative benefits path beginning in 2003 until 2018 (included). During this period the Company was entitled to beneficial tax rates of 0% – 10%. The Company decided to terminate its “Approved” and ”Beneficiary Enterprise” status early and enjoy beneficial tax rates under the “preferred technological enterprise” status effective beginning 2019.

In the event of distribution of dividends from income taxable at 0% tax rate as part of the Approved Enterprise or Beneficiary Enterprise statuses, the amount distributed will be subject to corporate tax at the rate ordinarily applicable to the Approved or Beneficiary Enterprise’s.

During the year ended December 31, 2021, the Company distributed approximately $71,000 attributable to these “trapped earnings” and recorded a related income tax expense of approximately $7,000. As of December 31, 2021, the Company has no remaining trapped earnings that would generate a tax liability, if distributed.

On November 15, 2021, the Israeli Economic Efficiency Law for the years 2021 and 2022 was enacted, which consists of numerous legislative amendments and arrangements, including an amendment to Section 74 of the Encouragement Law, which deals with the identification of sources of dividend distributions as of August 15, 2021 (hereinafter — the amendment). The amendment stipulates that in any dividend distribution from companies holding accumulated profits that were exempt from tax until their distribution as a dividend (“trapped earnings”), a certain part of the distribution will be considered a distribution of those trapped earnings, which will be fully taxed upon release. In addition, a temporary provision to the Encouragement Law was enacted, which offers a reduced tax payment arrangement to companies that have trapped earnings. The temporary provision, which is valid until November 14, 2022, stipulates that companies that have chosen to apply it, will be entitled to a tax rebate on corporate income tax, for the released trapped earnings. The release of trapped earnings allows their distribution at a beneficiary corporate tax rate according to the ratio of the distributed profits. The beneficiary corporate tax will be determined according to the ratio of the trapped earnings that the company seeks to release from all its trapped earnings. It will range between 40% to 70% of the corporate tax rate that would have applied to income in the year it was generated, but in any case, not less than 6%. Eligibility for the beneficiary corporate tax rate is conditional on a company’s decision to release part or all of its trapped earnings and the payment of the tax due until November 14, 2022, as well as on making investments in the companies’ industrial plants over five years, in accordance with the formula set forth in the amendment. The Company might be eligible to a reduce tax for the trapped earning distributed on August 30, 2021 in the amount of $71,000 as detailed above.

Preferred Enterprise and Preferred Technology Enterprise

On May 16, 2017 the Knesset Finance Committee approved Encouragement of Capital Investment Regulations (Preferred Technological Income and Capital Gain of Technological Enterprise) — 2017 (hereinafter: “the Regulations”), which provides rules for applying the “Preferred Technological Enterprise” tax benefit track including the formula that provides the mechanism for allocating the technological income eligible for the benefits

Commencing in 2019 the Company elected the Preferred Technology Enterprise status to apply under the Law for the Encouragement of Capital Investments (the “Investment Law”). The approval is currently in affect for the tax years 2019 to 2023. The Company expects to continue to meet the conditions to be entitled to the “Preferred Technological Enterprise” status beyond 2023.

Income subject to the Preferred Technology Enterprise status is taxed at reduced tax rate of 12% and income from manufacturing activity in Area A is taxed at reduced tax rate of 7.5%.

3. Foreign Exchange Regulations:

Under the Foreign Exchange Regulations, the Company calculates its Israeli tax liability in U.S. dollars according to certain orders. The tax liability, as calculated in U.S. dollars is translated into NIS according to the exchange rate as of December 31 of each year.

B. Income taxes on non-Israeli subsidiaries:

The Company’s subsidiaries incorporated in the US, Germany, Singapore, Australia, Brazil, UK, France, Canada, Japan and India are taxed according to tax laws in the countries of their residence. The Company’s effective tax rate depends on the geographical mix of where its profits are earned. In the year 2021, the Company’s U.S. subsidiary is subject to combined federal and state income taxes of 26% and the subsidiaries in Germany and Singapore are subject to corporation tax at a rate of approximately 33% and 17% respectively. As of December 31, 2021, the Company had approximately $25,768 undistributed earnings of its subsidiaries for which a deferred tax liability of approximately $4,125 was not recognized.

These undistributed earnings were designated as indefinitely reinvested.

In the event of a distribution of those earnings in the form of dividends, a sale of the subsidiaries, or certain other transactions, we may be liable for income taxes, subject to an adjustment, if any, for foreign tax credits and foreign withholding taxes payable to certain foreign tax authorities

C. Deferred taxes

Deferred taxes recognized for the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and such amounts for income tax purposes. Significant components of the deferred tax liabilities and assets are as follows:

	December 31, 2021		December 31, 2020
Deferred tax assets:
Deferred research and development cost	$	3,556	$	4,970
Employee related liabilities		842		906
Intangible assets		1,125		1,304
Goodwill		2,773		1,354
Deferred revenues		1,765		1,164
Issuance costs		1,347		—
Other		1,068		431
Total deferred tax assets		12,476		10,129

Deferred tax liabilities:
Deferred costs		1,324		1,242
Intangible assets		545		771
Goodwill		180		68
Property and equipment		438		455
Derivative instruments		79		208
Other		110		13
Total deferred tax liabilities		2,676		2,757
Total deferred tax assets, net	$	9,800	$	7,372

A reconciliation of the amount that would result from applying the Company’s e statutory tax rate in Israel to income before income tax expense to the reported amount of income tax expense allocated to continuing operations is as follows:

	Year Ended December 31,
	2021			2020			2019
Income before income taxes expense, as reported in the consolidated statements of operations	$	82,305		$	11,397		$	1,415
Statutory tax rate in Israel		23	%		23	%		23	%
Theoretical taxes on income		18,930			2,621			325
Foreign subsidiaries taxed at different tax rates		167			81			76
Preferred tax rates in Israel		(7,598	)		(72	)		937
Revaluation of liability instruments		(8,145	)		—			—
Non-deductible expense		1,363			1,501			2,293
Taxes in respect of prior years		(125	)		78			(283	)
Intercompany transfer of intangible assets		—			1,324			—
Tax on dividend distributed from trapped earnings		7,068			—			—
Other		(751	)		83			(57	)
Actual income tax expense	$	10,909		$	5,616		$	3,291

Income before income tax expense is comprised as follows:

	Year Ended December 31,
	2021		2020		2019
Domestic	$	71,434	$	4,348	$	(3,920	)
Foreign		10,871		7,049		5,335
	$	82,305	$	11,397	$	1,415

Income tax expenses allocated to continuing operations is comprised as follows:

	Year Ended December 31,
	2021			2020			2019
Current:
Israel	$	9,665		$	4,549		$	3,950
Foreign		2,882			3,885			1,008
Total current tax expense:		12,547			8,434			4,958

Deferred:
Israel		(10	)		(3,729	)		(1,897	)
Foreign		(1,628	)		911			230
Total deferred tax benefit		(1,638	)		(2,818	)		(1,667	)
Total income tax expense	$	10,909		$	5,616		$	3,291

A reconciliation of the beginning and ending balances of the total amounts of unrecognized tax benefits is as follows:

	December 31, 2021		December 31, 2020
Unrecognized tax benefits, beginning of year	$	2,007	$	1,689
Decreases in tax positions for prior years		—		(388	)
Increases in tax positions for current year		1,231		706
Unrecognized tax benefits, end of year	$	3,238	$	2,007

Interest expense recognized related to uncertain tax positions amounted to $92, $25 and $51 in 2021, 2020 and 2019, respectively. Total accrued interest as of December 31, 2021 and 2020 was $168 and $76, respectively, and were included in accrued expenses.

The Company currently does not expect unrecognized tax benefits to change significantly over the next 12 months, except in the case of settlements with tax authorities, the likelihood and timing of which is difficult to estimate.

The Company’s income tax assessments in Israel through the year 2016 are considered final and the Company is currently under routine income tax audit for tax years 2017-2018.

The Company is subject to income tax in other jurisdictions outside of Israel, of which the major jurisdiction is the U.S. The Company’s operation in the US is subject to examination for tax years 2016 and afterwards.

Timing of the resolution of audits is highly uncertain and therefore, as of December 31, 2021, the Company cannot estimate the change in unrecognized tax benefits resulting from these audits within the next 12 months.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Financial income, net

12 Months Ended

Dec. 31, 2021

Financial income, net [Abstract]

Financial income, net

Note 20. Financial income, net

	Year Ended December 31,
	2021			2020			2019
Financial income:
Interest on deposits	$	847		$	2,710		$	3,475
Foreign currency translation differences	$	51			780			380
Revaluation of liability instruments	$	67,873			—			—
Other	$	276			112			—

Financial expenses:
Bank charges	$	(166	)		(197	)		(222	)
Changes in exchange rates	$	(245	)		(1,226	)		(568	)
Other	$	(153	)		—			(130	)
	$	68,483		$	2,179		$	2,935

Dividend distribution

12 Months Ended

Dec. 31, 2021

Dividend Distribution [Abstract]

Dividend distribution

Note 21. Dividend distribution

In 2021 and 2020 the Board of Directors declared and distributed a dividend of $100,000 and $10,000, respectively, which were paid during the year.

The dividend distributions were subject to a withholding tax at the shareholder’s level at the rate of 5% – 25%. See also note 3b.

Transactions and Balances With Related Parties

12 Months Ended

Dec. 31, 2021

Transactions and Balances with Related Parties

Note 22. Transactions and Balances with Related Parties

A. Transactions with SUN Corporation

	Year Ended
	December 31, 2021	December 31, 2020	December 31, 2019
Revenues	3,678	1,865	3,662

B. Balances with SUN Corporation

	December 31, 2021	December 31, 2020
Trade receivables	214	—
Trade payables	—	(154	)

Accounting Policies, by Policy (Policies)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Basis of presentation

A. Basis of presentation

Functional Currency and Foreign Currency Translation

B. Functional Currency and Foreign Currency Translation

Use of estimates

C. Use of estimates

Principles of consolidation

D. Principles of consolidation

The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions and balances were eliminated in consolidation.

Cash and cash equivalents and restricted cash

E. Cash and cash equivalents and restricted cash

The Company considers all highly liquid instruments with a maturity of three months or less at the date of purchase to be cash equivalents.

Trade Receivable

F. Trade Receivable

Inventories

G. Inventories

Property and equipment

H. Property and equipment

		%
Computers and software		12.5 – 33
Manufacturing equipment		7
Office furniture and equipment		7 – 15
Leasehold improvements		*

___________

* Over the shorter of the expected lease term or estimated useful lives.

Impairment of long-lived assets

I. Impairment of long-lived assets

During the year ended December 31, 2021, 2020 and 2019, no impairment losses have been identified.

Revenue recognition

J. Revenue recognition

The Company sells its products to its customers either directly or indirectly through distribution channels all of whom are considered end users.

Disaggregation of Revenues

The following table provides information about disaggregated revenue by geographical areas

	Year Ended December 31,
	2021		2020		2019
EMEA	$	88,441	$	65,807	$	55,911
America		126,929		100,835		89,514
APAC		30,876		28,271		26,429
Total	$	246,246	$	194,913	$	171,854

Contract Balances

The following table provides information about accounts receivable, contract assets, and contract liabilities from contracts with customers:

	December 31, 2021		December 31, 2020
Contract assets	$	8,567	$	3,967
Contract liabilities, current		122,983		105,543
Contract liabilities, non-current	$	36,426	$	33,439

Remaining Performance Obligations

Contract acquisition costs

Commission expenses for the year ended December 31, 2021, 2020 and 2019 were $10,700, $8,400 and $6,800 respectively.

Research and development costs

K. Research and development costs

Product warranties

L. Product warranties

Advertising expenses

M. Advertising expenses

Advertising expenses are charged to expense as incurred. Advertising expenses for the years 2021, 2020 and 2019 were $5,274, $4,098 and $5,315 respectively.

Income taxes

N. Income taxes

Stock-Based Compensation

O. Stock-Based Compensation

Stock based compensation costs have been included in income from operations

Fair value measurements

P. Fair value measurements

• Level 1: Quoted prices in active markets for identical assets or liabilities.

• Level 2: Inputs other than Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability.

Derivative warrant liabilities

	Public Warrants		Private Placement Warrants			Total Derivative Warrant liability
Warrant liability assumed from the Business Combination	$	34,400	$	34,045		$	68,445
Change in fair value of warrant liability		800		(12,767	)		(11,967	)
Balance, December 31, 2021	$	35,200	$	21,278		$	56,478

				As of December 31, 2021
		Number of private placement warrants		9,666,667
		Exercise price		$ 11.5
		Share price		$ 8.02
		Expiration term (in years)		4.66
		Volatility		44.8 %
		Risk-free Rate		1.22 %
		Dividend yield		0 % – 5 %

Restricted sponsor shares liability and Price adjustment shares

Following the Merger, the Company issued equity and debt instrument. Transaction expenses were allocated on a relative fair value basis.

	Restricted sponsor shares			Price adjustment shares			Total
Earn out shares assumed from the Business Combination	$	62,347		$	117,675		$	180,022
Change in fair value of warrant liability		(17,635	)		(38,271	)		(55,906	)
Balance, December 31, 2021	$	44,712		$	79,404		$	124,116

Derivative instruments

Q. Derivative instruments

As of December 31, 2021 and 2020, the amount recorded in accumulated other comprehensive income from the Company’s currency forward, net of tax, was $577 and $1,521, respectively.

As of December 31, 2021, the notional amounts of foreign exchange forward contracts into which the Company entered were $15,623. The foreign exchange forward contracts will expire by May 13, 2022.

The fair value of derivative instruments assets balances as of December 31, 2021 and 2020, totaled $964 and $2,016, respectively.

Goodwill

R. Goodwill

Intangible assets

S. Intangible assets

Intangible assets are amortized over their estimated useful lives using the straight-line method, at the following annual period ranges:

		Years
Core technology		5 – 7
Trade name		4
Customer relationship		10

Business combination

T. Business combination

Acquisition-related costs are recognized separately from the acquisition and are expensed as incurred.

Concentrations of credit risk

U. Concentrations of credit risk

Segment reporting

V. Segment reporting

Basic and diluted net income (loss) per share

W. Basic and diluted net income (loss) per share

Public warrants and Private warrants, were excluded from the diluted income per share for the year ended December 31, 2021, as the inclusion would have been anti dilutive.

Recently issued accounting pronouncements

X. Recently issued accounting pronouncements

Recently adopted accounting pronouncements:

The Company allocated the transaction price to each performance obligation based on the standalone selling price at the acquisition date.

The ASU will be effective for fiscal years beginning after December 15, 2022 and interim periods therein for public business entities.

The Company early adopted the standard in 2021. Acquisitions of businesses assumed during the year ended December 31, 2021 were presented in conformity with the provisions of the standard.

Recently issued accounting pronouncements not yet adopted:

• In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.

Certain comparative figures have been reclassified to conform to the current year presentation

Y. Certain comparative figures have been reclassified to conform to the current year presentation.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of property and equipment

		%
Computers and software		12.5 – 33
Manufacturing equipment		7
Office furniture and equipment		7 – 15
Leasehold improvements		*

Schedule of geographical areas

	Year Ended December 31,
	2021		2020		2019
EMEA	$	88,441	$	65,807	$	55,911
America		126,929		100,835		89,514
APAC		30,876		28,271		26,429
Total	$	246,246	$	194,913	$	171,854

Schedule of accounts receivable

	December 31, 2021		December 31, 2020
Contract assets	$	8,567	$	3,967
Contract liabilities, current		122,983		105,543
Contract liabilities, non-current	$	36,426	$	33,439

Schedule of public and private warrants

	Public Warrants		Private Placement Warrants			Total Derivative Warrant liability
Warrant liability assumed from the Business Combination	$	34,400	$	34,045		$	68,445
Change in fair value of warrant liability		800		(12,767	)		(11,967	)
Balance, December 31, 2021	$	35,200	$	21,278		$	56,478

Schedule of expiration of the warrants

				As of December 31, 2021
		Number of private placement warrants		9,666,667
		Exercise price		$ 11.5
		Share price		$ 8.02
		Expiration term (in years)		4.66
		Volatility		44.8 %
		Risk-free Rate		1.22 %
		Dividend yield		0 % – 5 %

Schedule of company issued equity and debt instrument.

	Restricted sponsor shares			Price adjustment shares			Total
Earn out shares assumed from the Business Combination	$	62,347		$	117,675		$	180,022
Change in fair value of warrant liability		(17,635	)		(38,271	)		(55,906	)
Balance, December 31, 2021	$	44,712		$	79,404		$	124,116

Schedule of intangible assets are amortized

		Years
Core technology		5 – 7
Trade name		4
Customer relationship		10

- Definition

Tabular disclosure of all significant concentrations of risk, including credit risk and market risk, arising from all financial instruments (as defined), whether from an individual counterparty or groups of counterparties. The disclosure concerning concentrations of risk may consist of the following information: (1) for concentrations of credit risk disclosure may include: (a) information about the (shared) activity, region, or economic characteristic that identifies the concentration, (b) the maximum amount of loss due to credit risk that, based on the gross fair value of the financial instrument, the entity would incur if parties to the financial instruments that make up the concentration failed completely to perform according to the terms of the contracts and the collateral or other security, if any, for the amount due proved to be of no value to the entity, (c) the policy of requiring collateral or other security to support financial instruments subject to credit risk, information about the entity's access to that collateral or other security, and the nature and a brief description of the collateral or other security supporting those financial instruments, and (d) the policy of entering into master netting arrangements to mitigate the credit risk of financial instruments, information about the arrangements for which the entity is a party, and a brief description of the terms of those arrangements, including the extent to which they would reduce the entity's maximum amount of loss due to credit risk and (2) for disclosure of quantitative information about the market risks of financial instruments that is consistent with the way the company manages or adjusts those risks, disclosure may include: (a) more details about current positions and perhaps activity during the period, (b) the hypothetical effects on comprehensive income (or net assets), or annual income, of several possible changes in market prices, (c) a gap analysis of interest rate re-pricing or maturity dates, (d) the duration of the financial instruments, (e) the entity's value at risk from derivatives and from other positions at the end of the reporting period and the average value at risk during the year, or (f) other ways of reporting quantitative information as internally developed.

+ References + Details

Business combination (Tables)

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Schedule of purchase price allocation

	Amount
Net assets	$	(890	)
Technology		3,347
Customer relationship		177
Goodwill		17,366
Total	$	20,000

Schedule of components of identifiable intangible assets

	Fair Value		Useful Life
	US$ thousands		In years
Core technology		3,347	7
Customer relationship		177	10
Total identifiable intangible assets	$	3,524

Intangible assets, net (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of definite-lived intangible assets

	December 31, 2021		December 31, 2020
Original amounts:
Core technology	$	10,411	$	4,000
Trade name		3,900		3,900
Customer relationship		177		—
		14,488		7,900
Accumulated amortization:
Core technology		1,470		476
Trade name		1,788		813
Customer relationship		2		—
Intangible assets, net		3,260		1,289
	$	11,228	$	6,611

Schedule of future amortization expenses


2022	$	2,655
2023		2,655
2024		1,843
2025		1,680
2026 and thereafter		2,395
	$	11,228

Prepaid Expenses and Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2021

Prepaid expenses and other current assets [Abstract]

Schedule of prepaid expenses and other current assets

	December 31, 2021		December 31, 2020
Advances to suppliers	$	827	$	163
Prepaid expenses		8,927		4,319
Government institutions		1,662		811
Other		1,402		2,146
	$	12,818	$	7,439

Inventories (Tables)

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Schedule of Inventories

	December 31, 2021		December 31, 2020
Raw materials	$	4,742	$	3,279
Finished goods		1,769		1,475
	$	6,511	$	4,754

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Schedule of property and equipment, net

	December 31, 2021			December 31, 2020
Manufacturing equipment	$	526		$	509
Furniture and equipment		8,294			6,898
Leasehold improvements		6,637			6,430
Computers and software		22,735			18,931
		38,192			32,768
Less – accumulated depreciation		(21,436	)		(16,662	)
	$	16,756		$	16,106

Other Accounts Payable and Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Schedule of other accounts payable and accrued expenses

	December 31, 2021		December 31, 2020
Governmental institution	$	2,372	$	2,192
Employees and related expenses		29,725		28,098
Income tax payable		8,235		6,610
Accrued expenses		12,800		11,037
Phantom option units liability		—		538
Advances from customers		695		559
Other		217		78
	$	54,044	$	49,112

Commitments (Tables)

12 Months Ended

Dec. 31, 2021

Commitments [Abstract]

Schedule of future minimum lease commitments under non-cancellable operating leases

	US$ thousands
2022	$	4,890
2023		4,251
2024		5,417
2025		2,221
2026 and thereafter		1,722
	$	18,501

Shareholders' Equity (Deficiency) and Redeemable Convertible Preferred Shares (Tables)

12 Months Ended

Dec. 31, 2021

Stockholders' Equity Note [Abstract]

Schedule of fair value of options granted

	Year ended December 31,
	2021	2020	2019
Contractual period in years	10	10	10
Volatility	35.9% – 52.7%	45.1% – 50.2%	43.1% – 45.2%
Risk free interest rate	1.3% – 1.4%	0.1% – 1.0%	2.2% – 2.8%
Dividend yield	—% – 5%	0% – 5%	0% – 5%
Exercise price	$ 0.00 – $8.270	$2.385 – $5.190	$2.485 – $3.533
Fair value of Ordinary Share	5.41 – $8.270	$1.950 – $5.190	$2.032 – $3.533

Schedule of the company’s option activity

	Number of options	Weighted- average exercise price		Weighted- average remaining contractual term (in years)
Outstanding at December 31, 2020	30,834,504	$	2.724	8.14
Granted	70,678		5.036
Exercised	2,626,573		2.661
Forfeited	2,790,712		2.874
Outstanding at December 31, 2021	25,487,897	$	2.837	7.03
Exercisable at December 31, 2021	16,158,817	$	2.643	6.45

	Number of options	Weighted- average exercise price		Weighted- average remaining contractual term (in years)
Outstanding at December 31, 2019	27,377,797	$	3.033	8.59
Granted	9,909,539		2.215
Exercised	693,101		2.238
Forfeited	5,759,731		3.485
Outstanding at December 31, 2020	30,834,504		2.724	8.14
Exercisable at December 31, 2020	13,828,828		2.618	5.70

Schedule of the company’s RSUs activity

	December 31, 2021	December 31, 2020
Unvested at beginning of year	893,629	1,898,810
Granted	1,393,208	257,638
Vested*	178,254	805,716
Forfeited	65,059	457,103
Unvested, at end of year	2,043,524	893,629
__________ * 229,156 RSUs subject to deferral arrangements (“DSUs”) under the 2019 Restricted Share and Restricted Share Units Plan, that were vested as of Dec-31, 2020, and additional 43,356 DSUs that were vested in 2021 are not included in the count of shares, as according to that plan, upon their vesting they remain as a Share Unit and not converted into shares.

Schedule of stock based compensation costs

	Year Ended December 31,
	2021		2020		2019
Cost of revenues	$	290	$	304	$	190
Research and development		1,076		1,145		1,212
Sales and marketing		2,332		2,298		2,969
General and administrative		2,782		3,524		8,388
	$	6,480	$	7,271	$	12,759

Net Income (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Schedule of computation of basic losses per share

	Year Ended December 31,
	2021		2020			2019
Numerator:
Net income (loss)	$	71,396	$	5,781		$	(1,876	)
Basic net income attributable to Preferred shareholders		—		15,125			8,163
Basic net income attributable to Restricted sponsor shares		963		—			—
Basic net income (loss) attributable to Ordinary shareholders		70,433		(9,344	)		(10,039	)

Denominator:
Weighted average number of Ordinary shares used in computing basic net income (loss) per share		144,002,394		123,696,624			121,560,817
Basic net income (loss) per share of Ordinary shareholders	$	0.49	$	(0.08	)	$	(0.08	)
Weighted average number of Ordinary shares used in computing diluted net income (loss) per share		161,538,579		123,696,624			121,560,817
Diluted net income (loss) per share of Ordinary shareholders	$	0.44	$	(0.08	)	$	(0.08	)

Revenues (Tables)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Schedule of revenues

	Year Ended December 31,
	2021		2020		2019
Revenues from subscription services	$	120,889	$	100,614	$	81,505
Revenues from term-license		62,428		29,131		5,142
Total revenues from subscription		183,317		129,745		86,647
Revenues from perpetual license and other		34,169		42,136		59,175
Revenues from professional services		28,760		23,032		26,032
	$	246,246	$	194,913	$	171,854

Cost of revenues (Tables)

12 Months Ended

Dec. 31, 2021

Cost of revenues [Abstract]

Schedule of cost of revenues

	Year Ended December 31,
	2021		2020		2019
Materials and changes in inventories	$	10,316	$	10,532	$	7,638
Payroll and related expenses		19,754		17,019		14,272
Training expenses		3,885		2,713		5,338
Shipping expenses		1,548		1,543		1,784
Depreciation and Amortization		1,080		1,327		1,501
Inventory write-off		230		150		262
Travel		1,410		866		1,561
Other		4,334		3,729		3,467
	$	42,557	$	37,879	$	35,823

Schedule of cost of revenues by revenue type

	Year Ended December 31,
	2021		2020		2019
Cost of revenues from subscription services	$	9,369	$	8,795	$	6,585
Cost of term-license		2,299		1,709		189
Cost of revenues from perpetual license and other		9,817		9,370		10,049
Cost of revenues from professional services		21,072		18,005		19,000
	$	42,557	$	37,879	$	35,823

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Sales and marketing (Tables)

12 Months Ended

Dec. 31, 2021

Sales and marketing [Abstract]

Schedule of sales and marketing

	Year Ended December 31,
	2021		2020		2019
Payroll and related expenses	$	48,901	$	39,991	$	36,559
Sales commissions		10,312		8,246		6,624
Marketing and advertising		5,274		4,098		5,322
Travel and entertainment		2,279		1,276		4,939
Rent and maintenance		2,513		2,640		2,661
Depreciation and amortization		1,872		1,877		824
Vehicle costs		466		423		448
Professional consultants		1,349		808		1,889
Recruiting expenses		1,043		330		859
Other		2,380		1,616		1,485
	$	76,389	$	61,305	$	61,610

Research and development (Tables)

12 Months Ended

Dec. 31, 2021

Research and development [Abstract]

Schedule of research and development

	Year Ended December 31,
	2021		2020		2019
Payroll and related expenses	$	53,683	$	45,716		39,142
Rent and maintenance		1,851		2,117		1,721
Subcontractors and projects		3,482		2,676		2,398
Travel and entertainment		185		20		314
Vehicle costs		232		270		355
Recruiting expenses		178		127		222
Depreciation and amortization		2,100		1,813		1,135
Other		3,830		1,638		1,286
	$	65,541	$	54,377	$	46,573

General and administrative (Tables)

12 Months Ended

Dec. 31, 2021

General and Administrative [Abstract]

Schedule of general and administrative

	Year Ended December 31,
	2021		2020		2019
Payroll and related expenses	$	19,366	$	18,460		16,386
Professional fees		4,307		4,274		2,040
Vehicle costs		469		328		263
Rent and maintenance		1,559		2,147		2,071
Travel and entertainment		249		262		425
Refreshments, gifts and donations		525		778		645
Doubtful accounts and bad debts		676		606		266
Recruiting expenses		727		330		386
Depreciation		1,955		978		484
Issuance costs		11,835		—		—
Other		6,269		3,971		6,402
	$	47,937	$	32,134	$	29,368

Taxes on income (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of the deferred tax liabilities and assets

	December 31, 2021		December 31, 2020
Deferred tax assets:
Deferred research and development cost	$	3,556	$	4,970
Employee related liabilities		842		906
Intangible assets		1,125		1,304
Goodwill		2,773		1,354
Deferred revenues		1,765		1,164
Issuance costs		1,347		—
Other		1,068		431
Total deferred tax assets		12,476		10,129

Deferred tax liabilities:
Deferred costs		1,324		1,242
Intangible assets		545		771
Goodwill		180		68
Property and equipment		438		455
Derivative instruments		79		208
Other		110		13
Total deferred tax liabilities		2,676		2,757
Total deferred tax assets, net	$	9,800	$	7,372

Schedule of income before income tax expense to the reported amount

	Year Ended December 31,
	2021			2020			2019
Income before income taxes expense, as reported in the consolidated statements of operations	$	82,305		$	11,397		$	1,415
Statutory tax rate in Israel		23	%		23	%		23	%
Theoretical taxes on income		18,930			2,621			325
Foreign subsidiaries taxed at different tax rates		167			81			76
Preferred tax rates in Israel		(7,598	)		(72	)		937
Revaluation of liability instruments		(8,145	)		—			—
Non-deductible expense		1,363			1,501			2,293
Taxes in respect of prior years		(125	)		78			(283	)
Intercompany transfer of intangible assets		—			1,324			—
Tax on dividend distributed from trapped earnings		7,068			—			—
Other		(751	)		83			(57	)
Actual income tax expense	$	10,909		$	5,616		$	3,291

Schedule of income tax expense

	Year Ended December 31,
	2021		2020		2019
Domestic	$	71,434	$	4,348	$	(3,920	)
Foreign		10,871		7,049		5,335
	$	82,305	$	11,397	$	1,415

Schedule of income tax expenses allocated to continuing operations

	Year Ended December 31,
	2021			2020			2019
Current:
Israel	$	9,665		$	4,549		$	3,950
Foreign		2,882			3,885			1,008
Total current tax expense:		12,547			8,434			4,958

Deferred:
Israel		(10	)		(3,729	)		(1,897	)
Foreign		(1,628	)		911			230
Total deferred tax benefit		(1,638	)		(2,818	)		(1,667	)
Total income tax expense	$	10,909		$	5,616		$	3,291

Schedule of the total amounts of unrecognized tax benefits

	December 31, 2021		December 31, 2020
Unrecognized tax benefits, beginning of year	$	2,007	$	1,689
Decreases in tax positions for prior years		—		(388	)
Increases in tax positions for current year		1,231		706
Unrecognized tax benefits, end of year	$	3,238	$	2,007

Financial income, net (Tables)

12 Months Ended

Dec. 31, 2021

Financial income, net [Abstract]

Schedule of financial income, net

	Year Ended December 31,
	2021			2020			2019
Financial income:
Interest on deposits	$	847		$	2,710		$	3,475
Foreign currency translation differences	$	51			780			380
Revaluation of liability instruments	$	67,873			—			—
Other	$	276			112			—

Financial expenses:
Bank charges	$	(166	)		(197	)		(222	)
Changes in exchange rates	$	(245	)		(1,226	)		(568	)
Other	$	(153	)		—			(130	)
	$	68,483		$	2,179		$	2,935

Transactions and Balances With Related Parties (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of transactions with SUN corporation

	Year Ended
	December 31, 2021	December 31, 2020	December 31, 2019
Revenues	3,678	1,865	3,662

Schedule of balances with SUN corporation

	December 31, 2021	December 31, 2020
Trade receivables	214	—
Trade payables	—	(154	)

General (Details) - USD ($) $ in Thousands		1 Months Ended
General (Details) - USD ($) $ in Thousands	Nov. 11, 2021	Feb. 28, 2020
General (Details) [Line Items]
Total consideration	$ 20,000
BlackBag [Member]
General (Details) [Line Items]
Total base consideration		$ 33,362
Business Combination [Member] \| BlackBag [Member]
General (Details) [Line Items]
Acquisition shares percentage		100.00%

Summary of Significant Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2022
Summary of Significant Accounting Policies (Details) [Line Items]
Deferred revenue		$ 138,982	$ 159,409
Recognized revenue	$ 97,823	61,964
Commission expenses	10,700	8,400	6,800
Advertising expenses	$ 5,274	4,098	$ 5,315
Tax benefit, percentage	50.00%
Public warrants (in Shares)	20,000,000
Private warrants (in Shares)	9,666,667
Price per share (in Dollars per share)	$ 11.5
Price per warrant (in Dollars per share)	0.01
Exceeds per share (in Dollars per share)	$ 18
Restricted sponsor shares, description	7,500,000 Ordinary Shares issued to the Sponsor, out of a total of 13,500,000 shares, are Restricted Shares and will vest in 3 tranches of 3,000,000, 3,000,000 and 1,500,000, upon achievement of the of the triggering events (as defined in the business combination agreement); if at any time during the Price Adjustment Period the price of Cellebrite Ordinary Shares will be greater than or equal to $12.50, $15.00 and $30.00, respectively,
Ordinary shares, description	Holders of the Company’s Ordinary Shares and vested Restricted Share Units, in each case as of immediately prior to the effective time, are eligible to receive up to 15,000,000 Ordinary Shares that will vest in 3 tranches of 5,000,000 upon achievement of the of the triggering events (if at any time during the Price Adjustment Period the price of Cellebrite Ordinary Shares will be greater than or equal to $12.50, $15.00 and $30.00, respectively, over any twenty trading days within any thirty trading day period.
Net of tax	$ 577	1,521
Forward contracts	15,623
Instruments assets	$ 964	$ 2,016
Operating segment	1
Reporting unit	1
Determined operates segment	1
Reportable segment	1
Purchase ordinary shares (in Shares)	9,995,236	31,728,133	29,276,607
Subsequent Event [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Lease liabilities				$ 16,400
Minimum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Dividend yield, percentage	0.00%
Historical rate, percentage	0.00%
Maximum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Dividend yield, percentage	5.00%
Historical rate, percentage	5.00%

Summary of Significant Accounting Policies (Details) - Schedule of property and equipment	Dec. 31, 2021 USD ($)
Manufacturing equipment [Member]
Summary of Significant Accounting Policies (Details) - Schedule of property and equipment [Line Items]
Property and equipment percentage	$ 7
Leasehold improvements [Member]
Summary of Significant Accounting Policies (Details) - Schedule of property and equipment [Line Items]
Property and equipment percentage
Minimum [Member] \| Computers and software [Member]
Summary of Significant Accounting Policies (Details) - Schedule of property and equipment [Line Items]
Property and equipment percentage	12.5
Minimum [Member] \| Office furniture and equipment [Member]
Summary of Significant Accounting Policies (Details) - Schedule of property and equipment [Line Items]
Property and equipment percentage	7
Maximum [Member] \| Computers and software [Member]
Summary of Significant Accounting Policies (Details) - Schedule of property and equipment [Line Items]
Property and equipment percentage	33
Maximum [Member] \| Office furniture and equipment [Member]
Summary of Significant Accounting Policies (Details) - Schedule of property and equipment [Line Items]
Property and equipment percentage	$ 15

Summary of Significant Accounting Policies (Details) - Schedule of geographical areas - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Disaggregated revenue	$ 246,246	$ 194,913	$ 171,854
EMEA [Member]
Segment Reporting Information [Line Items]
Disaggregated revenue	88,441	65,807	55,911
America [Member]
Segment Reporting Information [Line Items]
Disaggregated revenue	126,929	100,835	89,514
APAC [Member]
Segment Reporting Information [Line Items]
Disaggregated revenue	$ 30,876	$ 28,271	$ 26,429

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 22: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

+ Details

Summary of Significant Accounting Policies (Details) - Schedule of accounts receivable - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of accounts receivable [Abstract]
Contract assets	$ 8,567	$ 3,967
Contract liabilities, current	122,983	105,543
Contract liabilities, non-current	$ 36,426	$ 33,439

Summary of Significant Accounting Policies (Details) - Schedule of public and private warrants $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Public Warrants [Member]
Summary of Significant Accounting Policies (Details) - Schedule of public and private warrants [Line Items]
Warrant liability assumed from the Business Combination	$ 34,400
Change in fair value of warrant liability	800
Balance, December 31, 2021	35,200
Private Placement Warrants [Member]
Summary of Significant Accounting Policies (Details) - Schedule of public and private warrants [Line Items]
Warrant liability assumed from the Business Combination	34,045
Change in fair value of warrant liability	(12,767)
Balance, December 31, 2021	21,278
Total Derivative Warrant Liability [Member]
Summary of Significant Accounting Policies (Details) - Schedule of public and private warrants [Line Items]
Warrant liability assumed from the Business Combination	68,445
Change in fair value of warrant liability	(11,967)
Balance, December 31, 2021	$ 56,478

Summary of Significant Accounting Policies (Details) - Schedule of expiration of the warrants $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) $ / shares
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Number of private placement warrants (in Dollars) \| $	$ 9,666,667
Exercise price (in Dollars per share)	$ 11.5
Share price (in Dollars per share)	$ 8.02
Expiration term (in years)	4 years 7 months 28 days
Volatility	44.80%
Risk-free Rate	1.22%
Minimum [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Dividend yield	0.00%
Maximum [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Dividend yield	5.00%

Summary of Significant Accounting Policies (Details) - Schedule of company issued equity and debt instrument. $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Summary of Significant Accounting Policies (Details) - Schedule of company issued equity and debt instrument. [Line Items]
Earn out shares assumed from the Business Combination	$ 180,022
Change in fair value of warrant liability	(55,906)
Balance, December 31, 2021	124,116
Restricted Sponsor Shares [Member]
Summary of Significant Accounting Policies (Details) - Schedule of company issued equity and debt instrument. [Line Items]
Earn out shares assumed from the Business Combination	62,347
Change in fair value of warrant liability	(17,635)
Balance, December 31, 2021	44,712
Price Adjustment Shares [Member]
Summary of Significant Accounting Policies (Details) - Schedule of company issued equity and debt instrument. [Line Items]
Earn out shares assumed from the Business Combination	117,675
Change in fair value of warrant liability	(38,271)
Balance, December 31, 2021	$ 79,404

Summary of Significant Accounting Policies (Details) - Schedule of intangible assets are amortized	12 Months Ended
	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Trade name	4 years
Customer relationship	10 years
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Core technology	5 years
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Core technology	7 years

Business combination (Details) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended	12 Months Ended
	Nov. 11, 2021	Apr. 08, 2021	Feb. 27, 2020	Dec. 31, 2021
Business combination (Details) [Line Items]
Merger Initial Dividend		$ 21,300
Merger additional dividend		78,700
Share value		$ 10
PIPE Investor [Member]
Business combination (Details) [Line Items]
Purchase price (in Dollars per share)		$ 10
Number of shares (in Shares)		30,000,000
Aggregate purchase price		$ 300,000
Shares converted (in Shares)		30,000,000
BlackBag Technologies Inc [Member]
Business combination (Details) [Line Items]
Acquisition percentage			100.00%
Total consideration			$ 33,362
Cash consideration paid			15,362
Consideration paid in installments			18,000
Business Combination, Contingent Consideration Arrangements, Change in Range of Outcomes, Contingent Consideration, Liability, Value, High			$ 6,000
Consideration in installment, description			$6,000 each year in the first, second and third anniversary of the closing.
Employee retention amount			$ 13,000
Acquisition expenses			1,848
Trade name			4,000
Core technology			3,900
Goodwill			9,463
Amortization costs			1,289
Intangible assets			$ 1,546
Digital Clues LTD. [Member]
Business combination (Details) [Line Items]
Total consideration	$ 20,000
Amortization expenses				$ 67
Transaction costs				$ 267
Trade Names [Member] \| BlackBag Technologies Inc [Member]
Business combination (Details) [Line Items]
Useful life of finite-lived			4 years
Core Technology [Member] \| BlackBag Technologies Inc [Member]
Business combination (Details) [Line Items]
Useful life of finite-lived			7 years

Business combination (Details) - Schedule of purchase price allocation $ in Thousands	Dec. 31, 2021 USD ($)
Schedule of purchase price allocation [Abstract]
Net assets	$ (890)
Technology	3,347
Customer relationship	177
Goodwill	17,366
Total	$ 20,000

Business combination (Details) - Schedule of components of identifiable intangible assets $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Business combination (Details) - Schedule of components of identifiable intangible assets [Line Items]
Total identifiable intangible assets	$ 3,524
Core Technology [Member]
Business combination (Details) - Schedule of components of identifiable intangible assets [Line Items]
Total identifiable intangible assets	$ 3,347
Useful Life	7 years
Customer Relationship [Member]
Business combination (Details) - Schedule of components of identifiable intangible assets [Line Items]
Total identifiable intangible assets	$ 177
Useful Life	10 years

Intangible assets, net (Details) - USD ($)	12 Months Ended
Intangible assets, net (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense amounted	$ 1,971	$ 1,289	$ 0

Intangible assets, net (Details) - Schedule of definite-lived intangible assets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Original amounts:
Intangible assets, gross	$ 14,488	$ 7,900
Accumulated amortization:
Intangible assets, net total	11,228	6,611
Core technology [Member]
Original amounts:
Intangible assets, gross	10,411	4,000
Accumulated amortization:
Intangible assets, net total	1,470	476
Trade name [Member]
Original amounts:
Intangible assets, gross	3,900	3,900
Accumulated amortization:
Intangible assets, net total	1,788	813
Customer relationship [Member]
Original amounts:
Intangible assets, gross	177
Accumulated amortization:
Intangible assets, net total	2
Intangible assets, net [Member]
Accumulated amortization:
Intangible assets, net total	$ 3,260	$ 1,289

Intangible assets, net (Details) - Schedule of future amortization expenses $ in Thousands	Dec. 31, 2021 USD ($)
Schedule of future amortization expenses [Abstract]
2022	$ 2,655
2023	2,655
2024	1,843
2025	1,680
2026 and thereafter	2,395
Total	$ 11,228

Short-Term Deposits (Details) - USD ($) $ in Thousands	12 Months Ended
Short-Term Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Short-Term Deposits (Details) [Line Items]
Short-term deposits (in Dollars)	$ 35,592	$ 108,928
Minimum [Member]
Short-Term Deposits (Details) [Line Items]
Interest rates	0.10%	0.27%
Maximum [Member]
Short-Term Deposits (Details) [Line Items]
Interest rates	1.55%	2.47%

Prepaid Expenses and Other Current Assets (Details) - Schedule of prepaid expenses and other current assets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of prepaid expenses and other current assets [Abstract]
Advances to suppliers	$ 827	$ 163
Prepaid expenses	8,927	4,319
Government institutions	1,662	811
Other	1,402	2,146
Total	$ 12,818	$ 7,439

Inventories (Details) - Schedule of Inventories - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of Inventories [Abstract]
Raw materials	$ 4,742	$ 3,279
Finished goods	1,769	1,475
Total	$ 6,511	$ 4,754

Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation expenses	$ 5,036	$ 4,464	$ 3,587

Property and Equipment, Net (Details) - Schedule of property and equipment, net - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 38,192	$ 32,768
Less – accumulated depreciation	(21,436)	(16,662)
Property and equipment, net	16,756	16,106
Manufacturing equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	526	509
Furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	8,294	6,898
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	6,637	6,430
Computers and software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 22,735	$ 18,931

Other Accounts Payable and Accrued Expenses (Details) - Schedule of other accounts payable and accrued expenses - Other Accounts Payable and Accrued Expenses [Member] - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other Accounts Payable and Accrued Expenses (Details) - Schedule of other accounts payable and accrued expenses [Line Items]
Governmental institution	$ 2,372	$ 2,192
Employees and related expenses	29,725	28,098
Income tax payable	8,235	6,610
Accrued expenses	12,800	11,037
Phantom option units liability		538
Advances from customers	695	559
Other	217	78
Total	$ 54,044	$ 49,112

Liability for Employees Severance Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Severance pay expenses amounted	$ 4,067	$ 3,340	$ 3,476
Matching contributions, percentage	6.00%
Contributions, description	For the year ended December 31, 2021 and 2020, the Company made 401(k) plan contributions of approximately $1,455, $877 and $774 , respectively.

Commitments (Details) - Schedule of future minimum lease commitments under non-cancellable operating leases $ in Thousands	Dec. 31, 2021 USD ($)
Schedule of future minimum lease commitments under non-cancellable operating leases [Abstract]
2022	$ 4,890
2023	4,251
2024	5,417
2025	2,221
2026 and thereafter	1,722
Total	$ 18,501

Shareholders' Equity (Deficiency) and Redeemable Convertible Preferred Shares (Details) $ / shares in Units, $ in Thousands	1 Months Ended		12 Months Ended
	Aug. 30, 2021	Jul. 17, 2019 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 shares	Dec. 31, 2021 ILS (₪) shares	Dec. 31, 2020 ILS (₪) shares
Shareholders' Equity (Deficiency) and Redeemable Convertible Preferred Shares (Details) [Line Items]
Ordinary shares par value (in New Shekels) \| ₪						₪ 0.00001	₪ 0.00001
Ordinary shares authorized			3,454,112,863	3,454,112,863		3,454,112,863	3,454,112,863
Convertible preferred shares issued		39,779,261
Convertible preferred shares per share (in Dollars per share) \| $ / shares		$ 2.765
Total consideration (in Dollars) \| $		$ 101,205
Invested amount (in Dollars) \| $		$ 110,000
Outstanding ordinary and preferred shares percentage		24.40%
Compensation amount (in Dollars) \| $		$ 4,034
Acquired shares				43,540	295,000
Authorized but unissued shares		5,756,855
Maximum aggregate number of shares			28,075,309
Aggregate number of Shares			1,871,687
Shares outstanding percentage			1.00%
RSU outstanding			27,276,343			27,276,343
Weighted average fair values at grant date of options granted (in Dollars per share) \| $ / shares			$ 5.04	$ 0.74
Total intrinsic value of options exercised (in Dollars) \| $			$ 8,547	$ 2,171
Aggregate intrinsic value of the outstanding options			25,440,041	29,414,990
Remaining outstanding options			70,678	143,939
Intrinsic value considered			0	0
Weighted average fair value at grant date of RSUs granted (in Dollars per share) \| $ / shares			$ 1.95	$ 8.27
Total fair value of shares vested (in Dollars) \| $			$ 927	$ 4,327
Unrecognized compensation expense (in Dollars) \| $			$ 20,316
Weighted average period			3 years 7 months 6 days
Stock based compensation to employees			4,559,059
Minimum [Member]
Shareholders' Equity (Deficiency) and Redeemable Convertible Preferred Shares (Details) [Line Items]
Reverse stock split	1
Maximum [Member]
Shareholders' Equity (Deficiency) and Redeemable Convertible Preferred Shares (Details) [Line Items]
Reverse stock split	1.0422

Shareholders' Equity (Deficiency) and Redeemable Convertible Preferred Shares (Details) - Schedule of fair value of options granted - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Shareholders' Equity (Deficiency) and Redeemable Convertible Preferred Shares (Details) - Schedule of fair value of options granted [Line Items]
Contractual period in years	10 years	10 years	10 years
Dividend yield	5.00%
Exercise price (in Dollars per share)	$ 2.643	$ 2.618
Minimum [Member]
Shareholders' Equity (Deficiency) and Redeemable Convertible Preferred Shares (Details) - Schedule of fair value of options granted [Line Items]
Volatility	35.90%	45.10%	43.10%
Risk free interest rate	1.30%	0.10%	2.20%
Dividend yield		0.00%	0.00%
Exercise price (in Dollars per share)	$ 0	$ 2.385	$ 2.485
Fair value of Ordinary Share (in Dollars per share)	$ 5.41	$ 1.95	$ 2.032
Maximum [Member]
Shareholders' Equity (Deficiency) and Redeemable Convertible Preferred Shares (Details) - Schedule of fair value of options granted [Line Items]
Volatility	52.70%	50.20%	45.20%
Risk free interest rate	1.40%	1.00%	2.80%
Dividend yield		5.00%	5.00%
Exercise price (in Dollars per share)	$ 8.27	$ 5.19	$ 3.533
Fair value of Ordinary Share (in Dollars per share)	$ 8.27	$ 5.19	$ 3.533

Shareholders' Equity (Deficiency) and Redeemable Convertible Preferred Shares (Details) - Schedule of the company’s option activity - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Schedule of the company’s option activity [Abstract]
Number of options, beginning balance	30,834,504	27,377,797
Weighted- average exercise price, beginning balance	$ 2.724	$ 3.033
Weighted- average remaining contractual term (in years), beginning balance	8 years 1 month 20 days	8 years 7 months 2 days
Number of options, Granted	70,678	9,909,539
Weighted- average exercise price, Granted	$ 5.036	$ 2.215
Number of options, exercised	2,626,573	693,101
Weighted- average exercise price, exercised	$ 2.661	$ 2.238
Number of options, forfeited	2,790,712	5,759,731
Weighted- average exercise price, forfeited	$ 2.874	$ 3.485
Number of options, ending balance	25,487,897	30,834,504
Weighted- average exercise price, ending balance	$ 2.837	$ 2.724
Weighted- average remaining contractual term (in years), ending balance	7 years 10 days	8 years 1 month 20 days
Number of options, exercisable	16,158,817	13,828,828
Weighted- average exercise price, exercisable	$ 2.643	$ 2.618
Weighted- average remaining contractual term (in years), exercisable	6 years 5 months 12 days	5 years 8 months 12 days

Shareholders' Equity (Deficiency) and Redeemable Convertible Preferred Shares (Details) - Schedule of the company’s RSUs activity - shares

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Schedule of the company’s RSUs activity [Abstract]

Unvested at beginning of year

893,629

1,898,810

Granted

1,393,208

257,638

Vested

^[1]

178,254

805,716

Forfeited

65,059

457,103

Unvested, at end of year

2,043,524

893,629

[1]

229,156 RSUs subject to deferral arrangements (“DSUs”) under the 2019 Restricted Share and Restricted Share Units Plan, that were vested as of Dec-31, 2020, and additional 43,356 DSUs that were vested in 2021 are not included in the count of shares, as according to that plan, upon their vesting they remain as a Share Unit and not converted into shares.

Shareholders' Equity (Deficiency) and Redeemable Convertible Preferred Shares (Details) - Schedule of stock based compensation costs - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of stock based compensation costs [Abstract]
Cost of revenues	$ 290	$ 304	$ 190
Research and development	1,076	1,145	1,212
Sales and marketing	2,332	2,298	2,969
General and administrative	2,782	3,524	8,388
Total	$ 6,480	$ 7,271	$ 12,759

Net Income (Loss) Per Share (Details) - Schedule of computation of basic losses per share - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator:
Net income (loss) (in Dollars)	$ 71,396	$ 5,781	$ (1,876)
Basic net income attributable to Preferred shareholders		15,125	8,163
Basic net income attributable to Restricted sponsor shares	963
Basic net income (loss) attributable to Ordinary shareholders	70,433	(9,344)	(10,039)
Denominator:
Weighted average number of Ordinary shares used in computing basic net income (loss) per share	144,002,394	123,696,624	121,560,817
Basic net income (loss) per share of Ordinary shareholders (in Dollars per share)	$ 0.49	$ (0.08)	$ (0.08)
Weighted average number of Ordinary shares used in computing diluted net income (loss) per share	161,538,579	123,696,624	121,560,817
Diluted net income (loss) per share of Ordinary shareholders (in Dollars per share)	$ 0.44	$ (0.08)	$ (0.08)

Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
Revenues (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Related party revenues	$ 3,678	$ 1,865	$ 3,662

- Definition

Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07.1(c))
-URI http://asc.fasb.org/extlink&oid=120401555&loc=SL114874292-224272

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(C))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.1(e))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

+ Details

Revenues (Details) - Schedule of revenues - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of revenues [Abstract]
Revenues from subscription services	$ 120,889	$ 100,614	$ 81,505
Revenues from term-license	62,428	29,131	5,142
Total revenues from subscription	183,317	129,745	86,647
Revenues from perpetual license and other	34,169	42,136	59,175
Revenues from professional services	28,760	23,032	26,032
Revenues	$ 246,246	$ 194,913	$ 171,854

Cost of revenues (Details) - Schedule of cost of revenues - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of cost of revenues [Abstract]
Materials and changes in inventories	$ 10,316	$ 10,532	$ 7,638
Payroll and related expenses	19,754	17,019	14,272
Training expenses	3,885	2,713	5,338
Shipping expenses	1,548	1,543	1,784
Depreciation and Amortization	1,080	1,327	1,501
Inventory write-off	230	150	262
Travel	1,410	866	1,561
Other	4,334	3,729	3,467
Total	$ 42,557	$ 37,879	$ 35,823

Cost of revenues (Details) - Schedule of cost of revenues by revenue type - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of cost of revenues by revenue type [Abstract]
Cost of revenues from subscription services	$ 9,369	$ 8,795	$ 6,585
Cost of term-license	2,299	1,709	189
Cost of revenues from perpetual license and other	9,817	9,370	10,049
Cost of revenues from professional services	21,072	18,005	19,000
Total	$ 42,557	$ 37,879	$ 35,823

Sales and marketing (Details) - Schedule of sales and marketing - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of sales and marketing [Abstract]
Payroll and related expenses	$ 48,901	$ 39,991	$ 36,559
Sales commissions	10,312	8,246	6,624
Marketing and advertising	5,274	4,098	5,322
Travel and entertainment	2,279	1,276	4,939
Rent and maintenance	2,513	2,640	2,661
Depreciation and amortization	1,872	1,877	824
Vehicle costs	466	423	448
Professional consultants	1,349	808	1,889
Recruiting expenses	1,043	330	859
Other	2,380	1,616	1,485
Total	$ 76,389	$ 61,305	$ 61,610

Research and development (Details) - Schedule of research and development - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of research and development [Abstract]
Payroll and related expenses	$ 53,683	$ 45,716	$ 39,142
Rent and maintenance	1,851	2,117	1,721
Subcontractors and projects	3,482	2,676	2,398
Travel and entertainment	185	20	314
Vehicle costs	232	270	355
Recruiting expenses	178	127	222
Depreciation and amortization	2,100	1,813	1,135
Other	3,830	1,638	1,286
Total	$ 65,541	$ 54,377	$ 46,573

General and administrative (Details) - Schedule of general and administrative - General and Administrative [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
General and administrative (Details) - Schedule of general and administrative [Line Items]
Payroll and related expenses	$ 19,366	$ 18,460	$ 16,386
Professional fees	4,307	4,274	2,040
Vehicle costs	469	328	263
Rent and maintenance	1,559	2,147	2,071
Travel and entertainment	249	262	425
Refreshments, gifts and donations	525	778	645
Doubtful accounts and bad debts	676	606	266
Recruiting expenses	727	330	386
Depreciation	1,955	978	484
Issuance costs	11,835
Other	6,269	3,971	6,402
General and administrative total	$ 47,937	$ 32,134	$ 29,368

Taxes on income (Details) - USD ($) $ in Thousands	12 Months Ended
Taxes on income (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Aug. 30, 2021
Taxes on income (Details) [Line Items]
Effective tax rate	50.00%
Income taxable at tax rate	0.00%
Trapped earnings (in Dollars)	$ 71,000
Related income tax expense (in Dollars)	$ 7,000
Beneficiary corporate tax rate	6.00%
Industrial plants over	5 years
Trapped earning distributed (in Dollars)				$ 71,000
Taxed at reduced tax rate	12.00%
Reduced tax rate	7.50%
Income taxes on non-Israeli subsidiaries	the Company’s U.S. subsidiary is subject to combined federal and state income taxes of 26% and the subsidiaries in Germany and Singapore are subject to corporation tax at a rate of approximately 33% and 17% respectively. As of December 31, 2021, the Company had approximately $25,768 undistributed earnings of its subsidiaries for which a deferred tax liability of approximately $4,125 was not recognized.
Uncertain tax positions amounted (in Dollars)	$ 92	$ 25	$ 51
Total accrued interest (in Dollars)	$ 168	$ 76
Israel [Member]
Taxes on income (Details) [Line Items]
Effective tax rate	23.00%	23.00%	23.00%
Minimum [Member]
Taxes on income (Details) [Line Items]
Beneficial tax rates	0.00%
Corporate tax rate	40.00%
Maximum [Member]
Taxes on income (Details) [Line Items]
Beneficial tax rates	10.00%
Corporate tax rate	70.00%

Taxes on income (Details) - Schedule of the deferred tax liabilities and assets - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Deferred research and development cost	$ 3,556	$ 4,970
Employee related liabilities	842	906
Intangible assets	1,125	1,304
Goodwill	2,773	1,354
Deferred revenues	1,765	1,164
Issuance costs	1,347
Other	1,068	431
Total deferred tax assets	12,476	10,129
Deferred tax liabilities:
Deferred costs	1,324	1,242
Intangible assets	545	771
Goodwill	180	68
Property and equipment	438	455
Derivative instruments	79	208
Other	110	13
Total deferred tax liabilities	2,676	2,757
Total deferred tax assets, net	$ 9,800	$ 7,372

Taxes on income (Details) - Schedule of income before income tax expense to the reported amount - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of income before income tax expense to the reported amount [Abstract]
Income before income taxes expense, as reported in the consolidated statements of operations	$ 82,305	$ 11,397	$ 1,415
Statutory tax rate in Israel	23.00%	23.00%	23.00%
Theoretical taxes on income	$ 18,930	$ 2,621	$ 325
Foreign subsidiaries taxed at different tax rates	167	81	76
Preferred tax rates in Israel	(7,598)	(72)	937
Revaluation of liability instruments	(8,145)
Non-deductible expense	1,363	1,501	2,293
Taxes in respect of prior years	(125)	78	(283)
Intercompany transfer of intangible assets		1,324
Tax on dividend distributed from trapped earnings	7,068
Other	(751)	83	(57)
Actual income tax expense	$ 10,909	$ 5,616	$ 3,291

Taxes on income (Details) - Schedule of income tax expense - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of income tax expense [Abstract]
Domestic	$ 71,434	$ 4,348	$ (3,920)
Foreign	10,871	7,049	5,335
Total	$ 82,305	$ 11,397	$ 1,415

Taxes on income (Details) - Schedule of income tax expenses allocated to continuing operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current:
Israel	$ 9,665	$ 4,549	$ 3,950
Foreign	2,882	3,885	1,008
Total current tax expense:	12,547	8,434	4,958
Deferred:
Israel	(10)	(3,729)	(1,897)
Foreign	(1,628)	911	230
Total deferred tax benefit	(1,638)	(2,818)	(1,667)
Total income tax expense	$ 10,909	$ 5,616	$ 3,291

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Taxes on income (Details) - Schedule of the total amounts of unrecognized tax benefits - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Schedule of the total amounts of unrecognized tax benefits [Abstract]
Unrecognized tax benefits, beginning of year	$ 2,007	$ 1,689
Decreases in tax positions for prior years		(388)
Increases in tax positions for current year	1,231	706
Unrecognized tax benefits, end of year	$ 3,238	$ 2,007

Financial income, net (Details) - Schedule of financial income, net - Financial income, Net [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financial income:
Interest on deposits	$ 847	$ 2,710	$ 3,475
Foreign currency translation differences	51	780	380
Revaluation of liability instruments	67,873
Other	276	112
Financial expenses:
Bank charges	(166)	(197)	(222)
Changes in exchange rates	(245)	(1,226)	(568)
Other	(153)		(130)
Total	$ 68,483	$ 2,179	$ 2,935

Dividend distribution (Details) - USD ($)	12 Months Ended
Dividend distribution (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Dividend distribution (Details) [Line Items]
Distributed dividend	$ 100,000	$ 10,000
Minimum [Member]
Dividend distribution (Details) [Line Items]
Tax shareholder percentage	5.00%
Maximum [Member]
Dividend distribution (Details) [Line Items]
Tax shareholder percentage	25.00%

Transactions and Balances With Related Parties (Details) - Schedule of transactions with SUN corporation - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Transactions With SUN Corporation [Member]
Condensed Statement of Income Captions [Line Items]
Revenues	$ 3,678,000	$ 1,865,000	$ 3,662,000

Transactions and Balances With Related Parties (Details) - Schedule of balances with SUN corporation - Balances With SUN Corporation [Member] - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Transactions and Balances With Related Parties (Details) - Schedule of balances with SUN corporation [Line Items]
Trade receivables	$ 214
Trade payables		$ (154)