|
Title of each class
|
| |
Name of each exchange on which registered
|
|
|
Ordinary shares, nominal value €0.01
|
| |
New York Stock Exchange
|
|
|
None
|
|
|
(Title of Class)
|
|
|
None
|
|
|
(Title of Class)
|
|
|
Large accelerated filer ☒
|
| |
Accelerated filer ☐
|
| |
Non-accelerated filer ☐
|
|
|
U.S. GAAP ☒
|
| |
International Financial Reporting Standards as issued
by the International Accounting Standards Board ☐ |
| |
Other ☐
|
|
| | | | | 5 | | | |
| | | | | 5 | | | |
| | | | | 5 | | | |
| | | | | 26 | | | |
| | | | | 49 | | | |
| | | | | 50 | | | |
| | | | | 74 | | | |
| | | | | 88 | | | |
| | | | | 92 | | | |
| | | | | 93 | | | |
| | | | | 94 | | | |
| | | | | 114 | | | |
| | | | | 115 | | | |
|
Part II
|
| ||||||
| | | | | 116 | | | |
| | | | | 116 | | | |
| | | | | 116 | | | |
| | | | | 117 | | | |
| | | | | 117 | | | |
| | | | | 117 | | | |
| | | | | 118 | | | |
| | | | | 118 | | | |
| | | | | 118 | | | |
| | | | | 118 | | | |
| | | | | 118 | | | |
|
Part III
|
| ||||||
| | | | | 120 | | | |
| | | | | 120 | | | |
| | | | | 120 | | | |
|
SIGNATURES
|
| |
| | |
Year ended December 31,
|
| |||||||||||||||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |
2012
|
| |
2011
|
| |||||||||||||||
| | |
(in thousands)
|
| |||||||||||||||||||||||||||
Statement of Operations Data | | | | | | | |||||||||||||||||||||||||
Revenues
|
| | | $ | 240,872 | | | | | $ | 143,637 | | | | | $ | 81,245 | | | | | $ | 40,285 | | | | | $ | 19,168 | | |
Cost of Revenues
|
| | | | 61,420 | | | | | | 37,040 | | | | | | 21,130 | | | | | | 12,219 | | | | | | 6,863 | | |
Gross Profit
|
| | | | 179,452 | | | | | | 106,597 | | | | | | 60,115 | | | | | | 28,066 | | | | | | 12,305 | | |
Operating Costs and Expenses | | | | | | | |||||||||||||||||||||||||
Research and Development, net
|
| | | | 43,393 | | | | | | 36,930 | | | | | | 22,309 | | | | | | 15,866 | | | | | | 15,377 | | |
Sales and Marketing
|
| | | | 12,811 | | | | | | 12,912 | | | | | | 12,331 | | | | | | 6,434 | | | | | | 6,134 | | |
General and Administrative
|
| | | | 45,509 | | | | | | 71,437 | | | | | | 10,277 | | | | | | 7,418 | | | | | | 2,567 | | |
Operating Profit (Loss)
|
| | | | 77,739 | | | | | | (14,682) | | | | | | 15,198 | | | | | | (1,652) | | | | | | (11,773) | | |
Interest Income
|
| | | | 2,888 | | | | | | 1,305 | | | | | | 1,059 | | | | | | 1,531 | | | | | | 1,543 | | |
Financial Income (Expenses), net
|
| | | | (917) | | | | | | (4,442) | | | | | | 1,389 | | | | | | 402 | | | | | | (2,709) | | |
Profit (Loss) Before Taxes on Income
|
| | | | 79,710 | | | | | | (17,819) | | | | | | 17,646 | | | | | | 281 | | | | | | (12,939) | | |
Benefit (Taxes) on Income
|
| | | | (11,260) | | | | | | (12,265) | | | | | | 2,274 | | | | | | (334) | | | | | | (447) | | |
Net Income (Loss)
|
| | | $ | 68,450 | | | | | $ | (30,084) | | | | | $ | 19,920 | | | | | $ | (53) | | | | | $ | (13,386) | | |
Basic and Diluted Loss per Share(1) | | | | | | | |||||||||||||||||||||||||
Amount Allocated to Participating
Shareholders |
| | | $ | — | | | | | $ | — | | | | | $ | (16,105) | | | | | $ | — | | | | | $ | — | | |
Adjustment as a Result of Benefit to Participating Shareholders
|
| | | | — | | | | | | — | | | | | | (229,832) | | | | | | — | | | | | | — | | |
Net Income (Loss) Applicable to Ordinary Shares for 2015 and 2014 and Applicable to Class A Ordinary Shares for 2013, 2012 and 2011
|
| | | $ | 68,450 | | | | | $ | (30,084) | | | | | $ | (226,017) | | | | | $ | (53) | | | | | $ | (13,386) | | |
Basic
|
| | | $ | 0.31 | | | | | $ | (0.28) | | | | | $ | (6.03) | | | | | $ | — | | | | | $ | (0.33) | | |
Diluted
|
| | | $ | 0.29 | | | | | $ | (0.28) | | | | | $ | (6.03) | | | | | $ | — | | | | | $ | (0.33) | | |
|
| | |
Year ended December 31,
|
| |||||||||||||||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |
2012
|
| |
2011
|
| |||||||||||||||
| | |
(in thousands)
|
| |||||||||||||||||||||||||||
Weighted Average Number of Shares Used In Computation of Earnings (Loss) per Ordinary Share for 2015 and 2014 and per Class A Ordinary Share for 2013, 2012 and 2011
|
| | | | | | |||||||||||||||||||||||||
Basic
|
| | | | 217,362 | | | | | | 107,942 | | | | | | 37,477 | | | | | | 40,191 | | | | | | 40,191 | | |
Diluted
|
| | | | 237,857 | | | | | | 107,942 | | | | | | 37,477 | | | | | | 40,191 | | | | | | 40,191 | | |
|
| | |
December 31,
|
|||||||||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |
2012
|
||||||||||||
| | |
(in thousands)
|
|||||||||||||||||||||
Balance Sheet Data | | | | | | |||||||||||||||||||
Cash, Cash Equivalents, Restricted Short-Term Deposits and Marketable Securities
|
| | | $ | 476,129 | | | | | $ | 375,091 | | | | | $ | 124,362 | | | | | $ | 61,015 | |
Inventories
|
| | | | 42,676 | | | | | | 17,626 | | | | | | 11,354 | | | | | | 9,275 | |
Long-Term Assets excluding Marketable securities(2)
|
| | | | 23,347 | | | | | | 18,063 | | | | | | 12,997 | | | | | | 9,681 | |
Total Assets
|
| | | | 577,614 | | | | | | 436,406 | | | | | | 168,228 | | | | | | 89,994 | |
Long-Term Liabilities
|
| | | | 18,884 | | | | | | 14,162 | | | | | | 9,715 | | | | | | 7,118 | |
Accumulated Deficit
|
| | | | (62,521) | | | | | | (130,971) | | | | | | (100,887) | | | | | | (120,807) | |
Total Shareholders’ Equity
|
| | | | 515,474 | | | | | | 394,674 | | | | | | 142,638 | | | | | | 71,568 |
| | |
December 31,
|
| |||||||||||||||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |
2012
|
| |
2011
|
| |||||||||||||||
| | |
(in thousands)
|
| |||||||||||||||||||||||||||
Other Financial Data | | | | | | | |||||||||||||||||||||||||
Net Income (Loss) Before Share-Based Compensation(3)
|
| | | $ | 113,419 | | | | | $ | 46,769 | | | | | $ | 33,051 | | | | | $ | 1,802 | | | | | $ | (12,268) | | |
| | |
Year ended December 31,
|
| |||||||||||||||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |
2012
|
| |
2011
|
| |||||||||||||||
| | |
(in thousands)
|
| |||||||||||||||||||||||||||
Net Income (Loss)
|
| | | $ | 68,450 | | | | | $ | (30,084) | | | | | $ | 19,920 | | | | | $ | (53) | | | | | $ | (13,386) | | |
Share-Based Compensation
|
| | | | 44,969 | | | | | | 76,853 | | | | | | 13,131 | | | | | | 1,855 | | | | | | 1,118 | | |
Net Income (Loss) Before Share-Based Compensation
|
| | | $ | 113,419 | | | | | $ | 46,769 | | | | | $ | 33,051 | | | | | $ | 1,802 | | | | | $ | (12,268) | | |
|
| Adam Opel AG Audi AG Bayerische Motoren Werke (BMW) AG — BMW, Mini and Rolls Royce Chrysler Group LLC — Chrysler, Dodge and Jeep FAW Automotive Fiat S.p.A. Ford Motor Company — Ford and Lincoln |
| | General Motors Company — Buick, Cadillac, Chevrolet and GMC Honda Motor Company, Ltd HKMC — Hyundai and Kia IVECO Jaguar Land Rover Automotive PLC — Jaguar and Land Rover MAN SE Mitsubishi Group Mazda Motor Corporation Nissan Motor Co., Ltd. — Nissan and Infiniti |
| | PSA Peugeot Citroën — Peugeot and Citroën Renault S.A. Scania Aktiebolag (publ) Ssangyong Motor Company SAIC Motor Tesla Motors, Inc. Volkswagen Volvo Car Corporation Yulon Motor Co., Ltd. |
|
|
Automakers
|
| ||||||
| Adam Opel AG Audi AG Bayerische Motoren Werke (BMW) AG — BMW, Mini and Rolls Royce Chrysler Group LLC — Chrysler, Dodge and Jeep FAW Automotive Fiat S.p.A. Ford Motor Company — Ford and Lincoln |
| | General Motors Company — Buick, Cadillac, Chevrolet and GMC Honda Motor Company, Ltd HKMC — Hyundai and Kia IVECO Jaguar Land Rover Automotive PLC — Jaguar and Land Rover MAN SE Mitsubishi Group Mazda Motor Corporation Nissan Motor Co., Ltd. — Nissan and Infiniti |
| | PSA Peugeot Citroën — Peugeot and Citroën Renault S.A. Scania Aktiebolag (publ) Ssangyong Motor Company SAIC Motor Tesla Motors, Inc. Volkswagen Volvo Car Corporation Yulon Motor Co., Ltd. |
|
Name
|
| |
Place of Organization
|
| |
Ownership Interest
|
|
Mobileye Vision Technologies Ltd. | | | Israel | | | Wholly-owned | |
Mobileye Inc. | | | Delaware | | | Wholly-owned | |
Mobileye Japan Ltd. | | | Japan | | | Wholly-owned | |
Mobileye Germany GmbH | | | Germany | | | Wholly-owned | |
Mobileye (Shanghai) Automotive Service Co. Ltd.
|
| |
People’s Republic of China
|
| | Wholly-owned | |
Mobileye Technologies Limited | | | Cyprus | | | Wholly-owned | |
| | |
Year ended December 31,
|
| |||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |||||||||
| | |
(in thousands)
|
| |||||||||||||||
Net Income (Loss)
|
| | | $ | 68,450 | | | | | $ | (30,084) | | | | | $ | 19,920 | | |
Share-Based Compensation
|
| | | | 44,969 | | | | | | 76,853 | | | | | | 13,131 | | |
Net Income Before Share-Based Compensation
|
| | | $ | 113,419 | | | | | $ | 46,769 | | | | | $ | 33,051 | | |
|
| | |
Year ended December 31,
|
| |||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |||||||||
| | |
(in thousands)
|
| |||||||||||||||
Net cash provided by operating activities
|
| | | $ | 100,854 | | | | | $ | 56,128 | | | | | $ | 28,188 | | |
Capital Expenditures
|
| | | | (5,065) | | | | | | (5,378) | | | | | | (2,592) | | |
Free Cash Flow
|
| | | $ | 95,789 | | | | | $ | 50,750 | | | | | $ | 25,596 | | |
|
| | |
Year ended December 31,
|
| |||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |||||||||
| | |
(in thousands)
|
| |||||||||||||||
OEM
|
| | | $ | 202,287 | | | | | $ | 121,799 | | | | | $ | 63,290 | | |
AM
|
| | | $ | 38,585 | | | | | $ | 21,838 | | | | | $ | 17,955 | | |
Total
|
| | | $ | 240,872 | | | | | $ | 143,637 | | | | | $ | 81,245 | | |
|
| | |
Year ended December 31,
|
| |||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |||||||||
| | |
(in thousands)
|
| |||||||||||||||
OEM
|
| | | $ | 110,509 | | | | | $ | 56,913 | | | | | $ | 23,917 | | |
AM
|
| | | $ | 12,199 | | | | | $ | 5,258 | | | | | $ | 4,412 | | |
Total
|
| | | $ | 122,708 | | | | | $ | 62,171 | | | | | $ | 28,329 | | |
|
| | |
Year ended December 31,
|
| |||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |||||||||
OEM
|
| | | | 84.0% | | | | | | 84.8% | | | | | | 77.9% | | |
AM
|
| | | | 16.0% | | | | | | 15.2% | | | | | | 22.1% | | |
Total
|
| | | | 100.0% | | | | | | 100.0% | | | | | | 100.0% | | |
|
| | |
Year ended December 31,
|
| |||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |||||||||
OEM
|
| | | | 54.6% | | | | | | 46.7% | | | | | | 37.8% | | |
AM
|
| | | | 31.6% | | | | | | 24.1% | | | | | | 24.6% | | |
|
| | |
Year Ended
December 31, 2015 |
| |||
| | |
(in thousands,
except per share data) |
| |||
Basic and diluted EPS for Ordinary Shares | | | |||||
Numerator | | | |||||
Net income
|
| | | $ | 68,450 | | |
Denominator | | | |||||
Weighted average ordinary shares outstanding
|
| | |||||
Basic
|
| | | | 217,362 | | |
Diluted
|
| | | | 237,857 | | |
Net income per share | | | |||||
Basic
|
| | | $ | 0.31 | | |
Diluted
|
| | | $ | 0.29 | | |
|
| | |
Year Ended
December 31, 2014 |
| |||
| | |
(in thousands,
except per share data) |
| |||
Basic and diluted EPS for Ordinary Shares | | | |||||
Numerator | | | |||||
Net loss
|
| | | $ | (30,084) | | |
Denominator | | | |||||
Weighted average ordinary shares outstanding
|
| | | | 107,942 | | |
Net loss per share | | | |||||
Basic and Diluted
|
| | | $ | (0.28) | | |
|
| | |
Year Ended
December 31, 2013 |
| |||
| | |
(in thousands,
except per share data) |
| |||
Basic and diluted EPS for Class A Ordinary Shares | | | |||||
Numerator | | | |||||
Net income
|
| | | $ | 19,920 | | |
Amount allocated to participating shareholders
|
| | | | (16,105) | | |
Adjustment as a result of benefit to participating shareholders
|
| | | | (229,832) | | |
Net loss applicable to Class A ordinary shares
|
| | | $ | (226,017) | | |
Denominator
|
| | |||||
Weighted average Class A ordinary shares outstanding
|
| | | | 37,477 | | |
Net loss per share
|
| | |||||
Basic and Diluted
|
| | | $ | (6.03) | | |
|
| | |
Three months ended
|
|||||||||||||||||||||||||||||||||||||||||||||
| | |
Dec. 31,
2015 |
| |
Sep. 30,
2015 |
| |
Jun. 30,
2015 |
| |
Mar. 31,
2015 |
| |
Dec. 31,
2014 |
| |
Sep. 30,
2014 |
| |
Jun. 30,
2014 |
| |
Mar. 31,
2014 |
||||||||||||||||||||||||
| | |
(in thousands)
|
|||||||||||||||||||||||||||||||||||||||||||||
Revenues
|
| | | $ | 71,819 | | | | | $ | 70,645 | | | | | $ | 52,827 | | | | | $ | 45,581 | | | | | $ | 39,658 | | | | | $ | 34,677 | | | | | $ | 33,653 | | | | | $ | 35,649 | |
Cost of Revenues
|
| | | | 17,657 | | | | | | 18,158 | | | | | | 13,570 | | | | | | 12,035 | | | | | | 10,648 | | | | | | 9,017 | | | | | | 8,565 | | | | | | 8,810 | |
Gross Profit
|
| | | | 54,162 | | | | | | 52,487 | | | | | | 39,257 | | | | | | 33,546 | | | | | | 29,010 | | | | | | 25,660 | | | | | | 25,088 | | | | | | 26,839 | |
Operating Costs and Expenses | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||
Research and Development, net
|
| | | | 11,635 | | | | | | 11,526 | | | | | | 10,505 | | | | | | 9,727 | | | | | | 10,005 | | | | | | 10,140 | | | | | | 8,164 | | | | | | 8,621 | |
Sales and Marketing
|
| | | | 3,020 | | | | | | 2,812 | | | | | | 3,483 | | | | | | 3,496 | | | | | | 1,002 | | | | | | 6,448 | | | | | | 2,620 | | | | | | 2,842 | |
General and Administrative
|
| | | | 18,842 | | | | | | 10,780 | | | | | | 8,230 | | | | | | 7,657 | | | | | | 11,752 | | | | | | 18,160 | | | | | | 10,674 | | | | | | 30,851 | |
Operating Profit (Loss)
|
| | | | 20,665 | | | | | | 27,369 | | | | | | 17,039 | | | | | | 12,666 | | | | | | 6,251 | | | | | | (9,088) | | | | | | 3,630 | | | | | | (15,475) | |
Net Income (Loss)
|
| | | $ | 18,824 | | | | | $ | 24,213 | | | | | $ | 15,275 | | | | | $ | 10,138 | | | | | $ | 2,399 | | | | | $ | (13,113) | | | | | $ | 189 | | | | | $ | (19,559) | |
|
| | |
Three months ended
|
||||||||||||||||||||||||||||||||||||||||||||
| | |
Dec. 31,
2015 |
| |
Sep. 30,
2015 |
| |
Jun. 30,
2015 |
| |
Mar. 31,
2015 |
| |
Dec. 31,
2014 |
| |
Sep. 30,
2014 |
| |
Jun. 30,
2014 |
| |
Mar.31,
2014 |
|||||||||||||||||||||||
| | |
(in thousands)
|
||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss)
|
| | | $ | 18,824 | | | | | $ | 24,213 | | | | | $ | 15,275 | | | | | $ | 10,138 | | | | | $ | 2,399 | | | | | $ | (13,113) | | | | | $ | 189 | | | | | $ | (19,559) |
Share-Based Compensation Expense
|
| | | | 17,778 | | | | | | 10,716 | | | | | | 8,401 | | | | | | 8,074 | | | | | | 10,933 | | | | | | 22,774 | | | | | | 10,973 | | | | | | 32,173 |
Income (Loss) Before Share-Based
Compensation(1) |
| | | $ | 36,602 | | | | | $ | 34,929 | | | | | $ | 23,676 | | | | | $ | 18,212 | | | | | $ | 13,332 | | | | | $ | 9,661 | | | | | $ | 11,162 | | | | | $ | 12,614 |
|
| | |
Year Ended December 31,
|
| |||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |||||||||
| | |
(in thousands)
|
| |||||||||||||||
Cash flows from operating activities
|
| | | $ | 100,854 | | | | | $ | 56,128 | | | | | $ | 28,188 | | |
Cash flows from (used in) investing activities
|
| | | | (296,958) | | | | | | 7,765 | | | | | | (8,936) | | |
Cash flows from financing activities
|
| | | | 8,769 | | | | | | 206,515 | | | | | | 38,049 | | |
Exchange rate differences on cash and cash equivalents
|
| | | | 146 | | | | | | (3,087) | | | | | | 280 | | |
Total increase (decrease) in cash and cash equivalents
|
| | | $ | (187,189) | | | | | $ | 267,321 | | | | | $ | 57,581 | | |
|
| | |
Payments Due by Period
|
| ||||||||||||||||||||||||
| | |
Total
|
| |
Less than
1 Year |
| |
1 – 3 Years
|
| |
3 – 5 Years
|
| |
More than
5 Years |
| ||||||||||||
| | |
(in thousands)
|
| ||||||||||||||||||||||||
Operating leases
|
| | | | 9,517 | | | | | | 3,263 | | | | | | 5,810 | | | | | | 444 | | | | | |
Purchase commitment
|
| | | | 38,240 | | | | | | 37,576 | | | | | | 664 | | | | | | | | | | | |
Severance pay(1)
|
| | | | 12,020 | | | | | | | | | | | | | | | | | | | | | |
|
|
Acquisition of land(2)
|
| | | | 11,798 | | | | | | 11,798 | | | | | | | | | | | | | | | | | |
Uncertain tax positions(3)
|
| | | | 7,164 | | | | | | | | | | | | | | | | | | | | | | | |
Total(3) | | | | | 78,739 | | | | | | 52,637 | | | | | | 6,474 | | | | | | 444 | | | | | |
|
| | |
Year ended December 31,
|
| ||||||
| | |
2015
|
| |
2014
|
| |
2013
|
|
Expected term (in years)
|
| |
2.16 – 6.95
|
| |
3.82 – 7.27
|
| |
1 – 12.35
|
|
Expected volatility
|
| |
35% – 53%
|
| |
36% – 55%
|
| |
42 – 53%
|
|
Risk-free rate
|
| |
0.75% – 2.01%
|
| |
0.7% – 2.17%
|
| |
0.19% – 2.74%
|
|
Dividend yield
|
| |
0.0%
|
| |
0.0%
|
| |
0.0%
|
|
Name
|
| |
Age
|
| |
Position
|
| |||
Professor Amnon Shashua(1)(8)
|
| | | | 55 | | | | Co-founder, Chief Technology Officer, Chairman and Executive Director | |
Ziv Aviram(1)(8)
|
| | | | 57 | | | | Co-founder, President, Chief Executive Officer and Executive Director | |
Ofer Maharshak
|
| | | | 45 | | | | Chief Financial Officer and Senior Vice President | |
Gaby Hayon
|
| | | | 46 | | | | Senior Vice President, Research and Development | |
Elchanan Rushinek
|
| | | | 61 | | | | Senior Vice President, Engineering | |
Itay Gat
|
| | | | 50 | | | | Vice President of Production Programs | |
Eli Barkat(2)(3)(5)(7)
|
| | | | 52 | | | | Non-executive Director | |
Eyal Desheh(2)(3)(4)(6)
|
| | | | 63 | | | | Non-executive Director | |
Peter Seth Neustadter(2)(3)(4)(6)
|
| | | | 67 | | | | Non-executive Director and Presiding Director | |
Name
|
| |
Age
|
| |
Position
|
| |||
Tomaso A. Poggio(2)(5)(7)
|
| | | | 68 | | | | Non-executive Director | |
Judith Richter(2)(4)(5)(7)
|
| | | | 68 | | | | Non-executive Director | |
| | |
Salaries, fees,
commissions and bonuses |
| |
Pension,
retirement, options and other similar benefits(1) |
| ||||||
Professor Amnon Shashua
|
| | | | 123,451 | | | | | | 12,855,478 | | |
Ziv Aviram
|
| | | | 123,451 | | | | | | 12,671,264 | | |
| | |
Number of Shares
Beneficially Held |
| |
Percent of Class
|
| ||||||
Executive officers and directors | | | | ||||||||||
Prof. Amnon Shashua(1)
|
| | | | 17,896,595 | | | | | | 8.2% | | |
Ziv Aviram(2)
|
| | | | 17,889,714 | | | | | | 8.2% | | |
Ofer Maharshak
|
| | | | 123,840 | | | | | | * | | |
Gaby Hayon
|
| | | | 145,190 | | | | | | * | | |
Elchanan Rushinek
|
| | | | 75,000 | | | | | | * | | |
Itay Gat
|
| | | | 181,000 | | | | | | * | | |
Eli Barkat
|
| | | | 10,000 | | | | | | * | | |
Eyal Desheh
|
| | | | 105,000 | | | | | | * | | |
Peter Seth Neustadter(3)
|
| | | | 72,200 | | | | | | * | | |
Prof. Tomaso A. Poggio
|
| | | | 16,500 | | | | | | * | | |
Judith Richter
|
| | | | 10,000 | | | | | | * | | |
All executive officers and directors as a group (11 persons)(4)
|
| | | | 36,565,039 | | | | | | 16.7% | | |
| | |
Number of Shares
Beneficially Held |
| |
Percent of Class
|
| ||||||
5% shareholders | | | | ||||||||||
T. Rowe Price Associates, Inc.(1)
|
| | | | 25,846,408 | | | | | | 11.8% | | |
Dr. Shmuel Harlap (2)
|
| | | | 15,730,267 | | | | | | 7.2% | | |
Ameriprise Financial, Inc.(3)
|
| | | | 13,801,419 | | | | | | 6.3% | | |
FMR LLC(4)
|
| | | | 12,256,784 | | | | | | 5.6% | | |
Sands Capital Management, LLC(5)
|
| | | | 12,219,040 | | | | | | 5.6% | | |
Other shareholders | | | | | | | | | | | | | |
| | |
U.S.$
|
| |||||||||
| | |
Price Per
Ordinary Share |
| |||||||||
| | |
High
|
| |
Low
|
| ||||||
Annual: | | | | ||||||||||
2015
|
| | | $ | 64.14 | | | | | $ | 33.66 | | |
2014 (from August 1, 2014)
|
| | | | 57.70 | | | | | | 32.15 | | |
Quarterly: | | | | ||||||||||
Second Quarter 2016 (through April 8, 2016)
|
| | | $ | 37.49 | | | | | $ | 35.98 | | |
First Quarter 2016
|
| | | | 42.28 | | | | | | 24.54 | | |
Fourth Quarter 2015
|
| | | | 49.91 | | | | | | 39.51 | | |
Third Quarter 2015
|
| | | | 64.14 | | | | | | 42.5 | | |
Second Quarter 2015
|
| | | | 55.41 | | | | | | 40.46 | | |
First Quarter 2015
|
| | | | 49.99 | | | | | | 33.66 | | |
Fourth Quarter 2014
|
| | | | 57.70 | | | | | | 39.70 | | |
Third Quarter 2014 (from August 1, 2014)
|
| | | | 56.60 | | | | | | 32.15 | | |
Monthly: | | | | ||||||||||
April 2016 (through April 8, 2016)
|
| | | $ | 37.49 | | | | | $ | 35.98 | | |
March 2016
|
| | | | 37.29 | | | | | | 33.17 | | |
February 2016
|
| | | | 32.46 | | | | | | 24.54 | | |
January 2016
|
| | | | 42.28 | | | | | | 26.6 | | |
December 2015
|
| | | | 44.27 | | | | | | 39.51 | | |
November 2015
|
| | | | 48.54 | | | | | | 41.9 | | |
October 2015
|
| | | | 49.91 | | | | | | 43.74 | | |
| | |
December 31,
|
| |||||||||
| | |
2015
|
| |
2014
|
| ||||||
| | |
(in thousands)
|
| |||||||||
Services Rendered
|
| | | ||||||||||
Audit(1) | | | | $ | 431 | | | | | $ | 1,115 | | |
Audit-related services(2)
|
| | | | 43 | | | | | | 25 | | |
Tax(3) | | | | | 12 | | | | | | 13 | | |
| | | | | 486 | | | | | | 1,153 | | |
Number
|
| |
Exhibit Title
|
|
1.1 | | | Amended and Restated Articles of Association as amended to date; incorporated by reference to Exhibit 99.2 to the Registrant’s Report on Form 6-K furnished to the SEC on December 13, 2014 | |
1.2 | | | Rules and Regulations (reglement) of the board of directors; incorporated by reference to Exhibit 3.2 to the Registrant’s Registration Statement on Form F-1 (SEC File No. 333-201614) | |
2.1 | | | Global Registration Rights Agreement dated as of August 19, 2013, among the Registrant and all holders of Series D, E and F Shares; incorporated by reference to Exhibit 4.1 to the Registrant’s Registration Statement on Form F-1 (SEC File No. 333-196898) | |
2.2 | | | Founders Agreement dated as of August 15, 2013, among the Registrant and the investors signatory thereto; incorporated by reference to Exhibit 4.2 to the Registrant’s Registration Statement on Form F-1 (SEC File No. 333-196898) | |
2.3 | | | Founders Agreement dated as of August 19, 2013, among the Registrant and the investors signatory thereto; incorporated by reference to Exhibit 4.3 to the Registrant’s Registration Statement on Form F-1 (SEC File No. 333-196898) | |
4.1 | | | The 2003 Share Option Plan, with Israeli Appendix, as amended; incorporated by reference to Exhibit 10.1 to the Registrant’s Registration Statement on Form F-1 (SEC File No. 333-196898) | |
4.2 | | | The 2014 Equity Incentive Plan, with Israeli Appendix; incorporated by reference to Exhibit 4.1 to the Registrant’s Registration Statement on Form S-8 (SEC File No. 333-201840) | |
4.3 | | | Form of Indemnification Agreement; incorporated by reference to Exhibit 10.2 to the Registrant’s Registration Statement on Form F-1 (SEC File No. 333-196898) | |
4.4 | | | Employment Agreement, dated July 24, 2014, between Mobileye Vision Technologies Ltd. and Amnon Shashua; incorporated by reference to Exhibit 10.3 to the Registrant’s Registration Statement on Form F-1 (SEC File No. 333-196898) | |
Number
|
| |
Exhibit Title
|
|
4.5 | | | Employment Agreement, dated July 24, 2014, between Mobileye Vision Technologies Ltd. and Ziv Aviram; incorporated by reference to Exhibit 10.4 to the Registrant’s Registration Statement on Form F-1 (SEC File No. 333-196898) | |
4.6 | | | Employment Agreement, dated July 27, 2014, between Mobileye Vision Technologies Ltd. and Ofer Maharshak; incorporated by reference to Exhibit 10.5 to the Registrant’s Registration Statement on Form F-1 (SEC File No. 333-196898) | |
4.7 | | | Employment Agreement dated January 8, 1999, between Mobileye Vision Technologies Ltd. and Gaby Hayon; incorporated by reference to Exhibit 10.6 to the Registrant’s Registration Statement on Form F-1 (SEC File No. 333-196898) | |
4.8 | | | Employment Agreement dated October 1, 2000, between Mobileye Vision Technologies Ltd. and Elchanan Rushinek; incorporated by reference to Exhibit 10.7 to the Registrant’s Registration Statement on Form F-1 (SEC File No. 333-196898) | |
4.9 | | | Employment Agreement dated October 14, 2003, between Mobileye Vision Technologies Ltd. and Itay Gat; incorporated by reference to Exhibit 10.8 to the Registrant’s Registration Statement on Form F-1 (SEC File No. 333-196898) | |
4.10 | | | English translation of Unprotected Leasing Agreement made as of January 31, 2008 by and between “Atirey Yeda” and Mobileye Vision Technologies Limited (the “Unprotected Leasing Agreement”); English summary of addendums thereto and English translation of addendum dated June 30, 2014; incorporated by reference to Exhibit 10.9 to the Registrant’s Registration Statement on Form F-1 (SEC File No. 333-196898) | |
4.11 | | | English translation of addendum dated July 24, 2014 to the Unprotected Leasing Agreement; incorporated by reference to Exhibit 10.10 to the Registrant’s Registration Statement on Form F-1 (SEC File No. 333-201614) | |
4.12 | | | Summary of a Sub-Lease Agreement dated April 24, 2012, between Mobileye Vision Technologies Ltd. and OrCam Technologies Ltd., and addendums thereto; incorporated by reference to Exhibit 10.11 to the Registrant’s Registration Statement on Form F-1 (SEC File No. 333-201614) | |
4.13† | | | Agreement dated October 17, 2006, between Mobileye Technologies Limited and STMicroelectronics N.V., as amended; incorporated by reference to Exhibit 10.11 to the Registrant’s Registration Statement on Form F-1 (SEC File No. 333-196898) | |
4.14† | | | Purchase Contract, effective February 8, 2011, between Mobileye Technologies Limited and Magna Electronics; incorporated by reference to Exhibit 10.14 to the Registrant’s Registration Statement on Form F-1 (SEC File No. 333-196898) | |
4.15† | | | Purchase Contract, effective June 12, 2012, between Mobileye Technologies Limited and Magna Electronics; incorporated by reference to Exhibit 10.14 to the Registrant’s Registration Statement on Form F-1 (SEC File No. 333-196898) | |
4.16† | | | Purchase Contract, effective June 12, 2012, between Mobileye Technologies Limited and Autoliv Electronics AB; incorporated by reference to Exhibit 10.14 to the Registrant’s Registration Statement on Form F-1 (SEC File No. 333-196898) | |
4.17 | | | Form of terms and conditions; incorporated by reference to Exhibit 10.16 to the Registrant’s Registration Statement on Form F-1 (SEC File No. 333-196898) | |
8.1 | | | List of Subsidiaries; incorporated by reference to Exhibit 21.1 to the Registrant’s Registration Statement on Form F-1 (SEC File No. 333-196898) | |
11.1 | | | Code of Business Conduct, as adopted by the board of directors on July 27, 2014; incorporated by reference to Exhibit 11.1 to the Registrant’s Annual Report on Form 20-F (SEC File No. 001-36566) filed on March 5, 2015. | |
12.1 | | | Certification by Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |
Number
|
| |
Exhibit Title
|
|
12.2 | | | Certification by Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |
13.1 | | | Certification by Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | |
13.2 | | | Certification by Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | |
15.1 | | | Consent of Kesselman & Kesselman, independent registered public accounting firm | |
101.INS | | | XBRL Instance Document | |
101.SCH | | | XBRL Taxonomy Extension Schema Document | |
101.CAL | | | XBRL Taxonomy Extension Calculation Linkbase Document | |
101.DEF | | | XBRL Taxonomy Extension Definition Linkbase Document | |
101.LAB | | | XBRL Taxonomy Extension Label Linkbase Document | |
101.PRE | | | XBRL Taxonomy Extension Presentation Linkbase Document | |
| | |
Page
|
| |||
| | | | F-2 | | | |
| | | | F-3 | | | |
| | | | F-4 | | | |
| | | | F-5 | | | |
| | | | F-6 | | | |
| | | | F-7 | | | |
| | | | F-8 | | |
| | |
December 31,
|
| |||||||||
| | |
2015
|
| |
2014
|
| ||||||
| | |
U.S. dollars in thousands
|
| |||||||||
Assets
|
| | | ||||||||||
CURRENT ASSETS | | | | ||||||||||
Cash and cash equivalents
|
| | | | 152,692 | | | | | | 339,881 | | |
Marketable securities
|
| | | | 59,394 | | | | | | 32,895 | | |
Trade accounts receivables, net
|
| | | | 23,706 | | | | | | 15,806 | | |
Inventories
|
| | | | 42,676 | | | | | | 17,626 | | |
Other current assets
|
| | | | 14,817 | | | | | | 12,135 | | |
TOTAL CURRENT ASSETS
|
| | | | 293,285 | | | | | | 418,343 | | |
LONG-TERM ASSETS | | | | ||||||||||
Marketable securities
|
| | | | 260,982 | | | | | | — | | |
Property and equipment, net
|
| | | | 11,031 | | | | | | 8,787 | | |
Severance pay fund
|
| | | | 9,863 | | | | | | 7,969 | | |
Other assets
|
| | | | 2,453 | | | | | | 1,307 | | |
TOTAL LONG-TERM ASSETS
|
| | | | 284,329 | | | | | | 18,063 | | |
TOTAL ASSETS
|
| | | | 577,614 | | | | | | 436,406 | | |
Liabilities and shareholders’ equity
|
| | | ||||||||||
CURRENT LIABILITIES | | | | ||||||||||
Accounts payable and accrued expenses
|
| | | | 24,593 | | | | | | 17,870 | | |
Employee related accrued expenses
|
| | | | 5,341 | | | | | | 3,961 | | |
Deferred revenues
|
| | | | 6,635 | | | | | | 570 | | |
Other current liabilities
|
| | | | 6,687 | | | | | | 5,169 | | |
TOTAL CURRENT LIABILITIES
|
| | | | 43,256 | | | | | | 27,570 | | |
LONG-TERM LIABILITIES | | | | ||||||||||
Accrued severance pay
|
| | | | 12,020 | | | | | | 9,350 | | |
Long-term tax liabilities
|
| | | | 6,864 | | | | | | 4,812 | | |
TOTAL LONG-TERM LIABILITIES
|
| | |
|
18,884
|
| | | |
|
14,162
|
| |
COMMITMENTS AND CONTINGENT LIABILITIES (Note 7) | | | | ||||||||||
TOTAL LIABILITIES
|
| | | | 62,140 | | | | | | 41,732 | | |
SHAREHOLDERS’ EQUITY | | | | ||||||||||
Ordinary Shares, EUR 0.01 par value: 1,012,565,725 shares authorized at December 31, 2015 and 2014; 218,847,430 and 214,554,061 shares issued and outstanding at December 31, 2015 and 2014 respectively
|
| | | | 2,558 | | | | | | 2,511 | | |
Additional paid-in capital
|
| | | | 577,212 | | | | | | 523,315 | | |
Accumulated other comprehensive loss
|
| | | | (1,775) | | | | | | (181) | | |
Accumulated deficit
|
| | | | (62,521) | | | | | | (130,971) | | |
TOTAL SHAREHOLDERS’ EQUITY
|
| | | | 515,474 | | | | | | 394,674 | | |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
|
| | | | 577,614 | | | | | | 436,406 | | |
|
| | |
Year ended December 31,
|
| |||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |||||||||
| | |
U.S. dollars in thousands except per share data
|
| |||||||||||||||
REVENUES
|
| | | | 240,872 | | | | | | 143,637 | | | | | | 81,245 | | |
COST OF REVENUES
|
| | | | 61,420 | | | | | | 37,040 | | | | | | 21,130 | | |
GROSS PROFIT
|
| | | | 179,452 | | | | | | 106,597 | | | | | | 60,115 | | |
OPERATING COSTS AND EXPENSES: | | | | | |||||||||||||||
RESEARCH AND DEVELOPMENT, net
|
| | | | 43,393 | | | | | | 36,930 | | | | | | 22,309 | | |
SALES AND MARKETING
|
| | | | 12,811 | | | | | | 12,912 | | | | | | 12,331 | | |
GENERAL AND ADMINISTRATIVE
|
| | | | 45,509 | | | | | | 71,437 | | | | | | 10,277 | | |
OPERATING PROFIT (LOSS)
|
| | | | 77,739 | | | | | | (14,682) | | | | | | 15,198 | | |
INTEREST INCOME
|
| | | | 2,888 | | | | | | 1,305 | | | | | | 1,059 | | |
FINANCIAL INCOME (EXPENSES), net
|
| | | | (917) | | | | | | (4,442) | | | | | | 1,389 | | |
PROFIT (LOSS) BEFORE TAXES ON INCOME
|
| | | | 79,710 | | | | | | (17,819) | | | | | | 17,646 | | |
BENEFIT (TAXES) ON INCOME
|
| | | | (11,260) | | | | | | (12,265) | | | | | | 2,274 | | |
NET INCOME (LOSS)
|
| | | | 68,450 | | | | | | (30,084) | | | | | | 19,920 | | |
BASIC AND DILUTED EARNINGS (LOSS) PER SHARE: | | | | | |||||||||||||||
Amount allocated to participating shareholders
|
| | | | — | | | | | | — | | | | | | (16,105) | | |
Adjustment as a result of benefit to participating shareholders
|
| | | | — | | | | | | — | | | | | | (229,832) | | |
Net earnings (loss) applicable to Ordinary shares for 2015 and 2014
and applicable to Class A Ordinary shares for 2013 |
| | | | 68,450 | | | | | | (30,084) | | | | | | (226,017) | | |
Basic
|
| | | | 0.31 | | | | | | (0.28) | | | | | | (6.03) | | |
Diluted
|
| | | | 0.29 | | | | | | (0.28) | | | | | | (6.03) | | |
WEIGHTED AVERAGE NUMBER OF SHARES USED IN
COMPUTATION OF EARNINGS (LOSS) PER ORDINARY SHARE FOR 2015 AND 2014 AND PER CLASS A ORDINARY SHARES FOR 2013 (IN THOUSANDS) |
| | | | |||||||||||||||
Basic
|
| | | | 217,362 | | | | | | 107,942 | | | | | | 37,477 | | |
Diluted
|
| | | | 237,857 | | | | | | 107,942 | | | | | | 37,477 | | |
|
| | |
Year ended December 31,
|
| |||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |||||||||
| | |
U.S. dollars in thousands
|
| |||||||||||||||
NET INCOME (LOSS)
|
| | | | 68,450 | | | | | | (30,084) | | | | | | 19,920 | | |
OTHER COMPREHENSIVE INCOME (LOSS) | | | | | |||||||||||||||
Change in net unrealized gains (losses) on marketable securities
|
| | | | (1,905) | | | | | | (63) | | | | | | 100 | | |
Less: reclassification adjustment for net losses (gains) included in net income
|
| | | | 311 | | | | | | (730) | | | | | | 291 | | |
TOTAL OTHER COMPREHENSIVE INCOME (LOSS)
|
| | | | (1,594) | | | | | | (793) | | | | | | 391 | | |
TOTAL COMPREHENSIVE INCOME (LOSS)
|
| | | | 66,856 | | | | | | (30,877) | | | | | | 20,311 | | |
|
| | |
Number
of shares |
| |
Amount
|
| |
Additional
paid in capital |
| |
Accumulated
other comprehensive income (loss) |
| |
Accumulated
deficit |
| |
Total
shareholders’ equity |
| ||||||||||||||||||
| | |
U.S. dollars in thousands (except for share number data)
|
| |||||||||||||||||||||||||||||||||
BALANCE AT JANUARY 1, 2013
|
| | | | 191,985,880 | | | | | | 2,210 | | | | | | 189,944 | | | | | | 221 | | | | | | (120,807) | | | | | | 71,568 | | |
Issuance of shares, net of issuance costs
|
| | | | 4,297,995 | | | | | | 55 | | | | | | 27,827 | | | | | | | | | | | | | | | | | | 27,882 | | |
Exercise of options
|
| | | | 6,229,270 | | | | | | 85 | | | | | | 9,661 | | | | | | | | | | | | | | | | | | 9,746 | | |
Comprehensive income
|
| | | | | | | | | | | | | | | | | | | | | | 391 | | | | | | 19,920 | | | | | | 20,311 | | |
Share-based compensation
|
| | | | | | | | | | | | | | | | 13,131 | | | | | | | | | | | | | | | | | | 13,131 | | |
BALANCE AT DECEMBER 31, 2013
|
| | | | 202,513,145 | | | | | | 2,350 | | | | | | 240,563 | | | | | | 612 | | | | | | (100,887) | | | | | | 142,638 | | |
Issuance of Ordinary shares in connection with initial public offering, net of issuance costs of $12.2 million
|
| | | | 8,325,000 | | | | | | 112 | | | | | | 195,797 | | | | | | | | | | | | | | | | | | 195,909 | | |
Exercise of options
|
| | | | 3,715,916 | | | | | | 49 | | | | | | 10,102 | | | | | | | | | | | | | | | | | | 10,151 | | |
Comprehensive loss
|
| | | | | | | | | | | | | | | | | | | | | | (793) | | | | | | (30,084) | | | | | | (30,877) | | |
Share-based compensation
|
| | | | | | | | | | | | | | | | 76,853 | | | | | | | | | | | | | | | | | | 76,853 | | |
BALANCE AT DECEMBER 31, 2014
|
| | | | 214,554,061 | | | | | | 2,511 | | | | | | 523,315 | | | | | | (181) | | | | | | (130,971) | | | | | | 394,674 | | |
Exercise of options and vesting of RSUs
|
| | | | 4,293,369 | | | | | | 47 | | | | | | 8,928 | | | | | | | | | | | | | | | | | | 8,975 | | |
Comprehensive income
|
| | | | | | | | | | | | | | | | | | | | | | (1,594) | | | | | | 68,450 | | | | | | 66,856 | | |
Share-based compensation
|
| | | | | | | | | | | | | | | | 44,969 | | | | | | | | | | | | | | | | | | 44,969 | | |
BALANCE AT DECEMBER 31, 2015
|
| | | | 218,847,430 | | | | | | 2,558 | | | | | | 577,212 | | | | | | (1,775) | | | | | | (62,521) | | | | | | 515,474 | | |
|
| | |
Year ended December 31,
|
| |||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |||||||||
| | |
U.S. dollars in thousands
|
| |||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | | | | | |||||||||||||||
Net income (loss) for the year
|
| | | | 68,450 | | | | | | (30,084) | | | | | | 19,920 | | |
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
|
| | | | |||||||||||||||
Depreciation
|
| | | | 3,312 | | | | | | 2,551 | | | | | | 1,716 | | |
Exchange rate differences
|
| | | | (192) | | | | | | 3,087 | | | | | | (280) | | |
Accrued severance pay
|
| | | | 2,670 | | | | | | 1,037 | | | | | | 2,177 | | |
Loss (gain) from severance pay fund
|
| | | | (87) | | | | | | 510 | | | | | | (337) | | |
Loss (gain) from marketable securities
|
| | | | 311 | | | | | | 1,139 | | | | | | (767) | | |
Share-based compensation
|
| | | | 44,969 | | | | | | 76,853 | | | | | | 13,131 | | |
Changes in asset and liabilities:
|
| | | | |||||||||||||||
Trade accounts receivables, net
|
| | | | (7,900) | | | | | | (3,316) | | | | | | (5,389) | | |
Other current assets
|
| | | | (1,730) | | | | | | (2,795) | | | | | | (4,103) | | |
Inventories
|
| | | | (25,050) | | | | | | (6,272) | | | | | | (2,079) | | |
Other long-term assets
|
| | | | (1,146) | | | | | | (969) | | | | | | (57) | | |
Account payables and accrued expenses
|
| | | | 6,232 | | | | | | 6,056 | | | | | | 3,593 | | |
Employee-related accrued expenses
|
| | | | 1,380 | | | | | | 623 | | | | | | 775 | | |
Deferred revenues
|
| | | | 6,065 | | | | | | (484) | | | | | | (534) | | |
Other current-liabilities
|
| | | | 1,518 | | | | | | 4,782 | | | | | | 2 | | |
Long-term liabilities
|
| | | | 2,052 | | | | | | 3,410 | | | | | | 420 | | |
Net cash provided by operating activities
|
| | | | 100,854 | | | | | | 56,128 | | | | | | 28,188 | | |
CASH FLOWS FROM INVESTMENT ACTIVITIES | | | | | |||||||||||||||
Net change in restricted and short-term deposits
|
| | | | (700) | | | | | | 2,769 | | | | | | 5,216 | | |
Purchase of marketable securities
|
| | | | (456,377) | | | | | | (19,361) | | | | | | (24,166) | | |
Proceeds from maturities of marketable securities
|
| | | | 23,249 | | | | | | 7,250 | | | | | | 5,231 | | |
Proceeds from sales of marketable securities
|
| | | | 143,742 | | | | | | 24,002 | | | | | | 9,111 | | |
Severance pay fund
|
| | | | (1,807) | | | | | | (1,517) | | | | | | (1,736) | | |
Purchase of property and equipment
|
| | | | (5,065) | | | | | | (5,378) | | | | | | (2,592) | | |
Net cash provided by (used in) investing activities
|
| | | | (296,958) | | | | | | 7,765 | | | | | | (8,936) | | |
CASH FLOWS FROM FINANCING ACTIVITIES | | | | | |||||||||||||||
Issuance of shares, net of issuance costs
|
| | | | — | | | | | | 196,364 | | | | | | 28,303 | | |
Exercise of options
|
| | | | 8,769 | | | | | | 10,151 | | | | | | 9,746 | | |
Net cash provided by financing activities
|
| | | | 8,769 | | | | | | 206,515 | | | | | | 38,049 | | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
|
| | | | (187,335) | | | | | | 270,408 | | | | | | 57,301 | | |
BALANCE OF CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
|
| | | | 339,881 | | | | | | 72,560 | | | | | | 14,979 | | |
EXCHANGE RATE DIFFERENCES ON CASH AND CASH EQUIVALENTS
|
| | | | 146 | | | | | | (3,087) | | | | | | 280 | | |
BALANCE OF CASH AND CASH EQUIVALENTS AT END OF YEAR
|
| | | | 152,692 | | | | | | 339,881 | | | | | | 72,560 | | |
SUPPLEMENTARY INFORMATION ON ACTIVITIES NOT INVOLVING CASH FLOWS
|
| | | | |||||||||||||||
Non cash purchase of property and equipment
|
| | | | 1,064 | | | | | | 573 | | | | | | 310 | | |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
|
| | | | |||||||||||||||
Income taxes paid
|
| | | | 10,641 | | | | | | 2,609 | | | | | | 405 | | |
|
| | |
%
|
| |||
Computers, electronic equipment and software (mainly 33%)
|
| | | | 15 – 33 | | |
Vehicles
|
| | | | 15 | | |
Office furniture and equipment
|
| | | | 7 | | |
Equipment
|
| | | | 33 | | |
| | |
December 31,
|
| |||||||||
| | |
2015
|
| |
2014
|
| ||||||
| | |
U.S. dollars in thousands
|
| |||||||||
a. Other current assets | | | | | | | | | | | | | |
Government institutions
|
| | | | 1,822 | | | | | | 1,026 | | |
Prepaid expenses
|
| | | | 2,363 | | | | | | 1,948 | | |
Deferred taxes
|
| | | | — | | | | | | 605 | | |
Other account receivables
|
| | | | 4,612 | | | | | | 5,277 | | |
Interest receivable
|
| | | | 2,161 | | | | | | 221 | | |
Restricted bank deposits
|
| | | | 3,061 | | | | | | 2,315 | | |
Other
|
| | | | 798 | | | | | | 743 | | |
| | | | | 14,817 | | | | | | 12,135 | | |
b. Property and equipment, net | | | | | | | | | | | | | |
Computers, electronic equipment and software
|
| | | | 12,538 | | | | | | 13,848 | | |
Vehicles
|
| | | | 1,007 | | | | | | 617 | | |
Office furniture and equipment
|
| | | | 759 | | | | | | 665 | | |
Leasehold improvements
|
| | | | 4,071 | | | | | | 3,839 | | |
Equipment
|
| | | | 476 | | | | | | 476 | | |
Prepayment of property
|
| | | | 745 | | | | | | — | | |
| | | | | 19,596 | | | | | | 19,445 | | |
Less – accumulated depreciation
|
| | | | 8,565 | | | | | | 10,658 | | |
| | | | | 11,031 | | | | | | 8,787 | | |
|
| | |
December 31,
|
| |||||||||
| | |
2015
|
| |
2014
|
| ||||||
| | |
U.S. dollars in thousands
|
| |||||||||
c. Account payable and accrued expenses | | | | | | | | | | | | | |
Account payable
|
| | | | 17,461 | | | | | | 12,016 | | |
Accrued expenses
|
| | | | 7,132 | | | | | | 5,854 | | |
| | | | | 24,593 | | | | | | 17,870 | | |
d. Other current Liabilities | | | | | | | | | | | | | |
Institutions
|
| | | | 1,490 | | | | | | 2,215 | | |
Advances from NRE arrangements
|
| | | | 2,628 | | | | | | 1,303 | | |
Advances from customers
|
| | | | 1,712 | | | | | | 1,180 | | |
Other
|
| | | | 857 | | | | | | 471 | | |
| | | | | 6,687 | | | | | | 5,169 | | |
|
| | |
As of December 31, 2015
|
| |||||||||||||||
| | |
U.S. dollars in thousands
|
| |||||||||||||||
| | |
Level 1
|
| |
Level 2
|
| |
Total
|
| |||||||||
Cash equivalent – Money market funds
|
| | | | 1,986 | | | | | | — | | | | | | 1,986 | | |
U.S. government treasuries
|
| | | | 10,874 | | | | | | — | | | | | | 10,874 | | |
Corporate debt securities
|
| | | | — | | | | | | 309,502 | | | | | | 309,502 | | |
| | | | | 12,860 | | | | | | 309,502 | | | | | | 322,362 | | |
|
| | |
As of December 31, 2014
|
| |||||||||||||||
| | |
U.S. dollars in thousands
|
| |||||||||||||||
| | |
Level 1
|
| |
Level 2
|
| |
Total
|
| |||||||||
U.S. government treasuries
|
| | | | 5,793 | | | | | | — | | | | | | 5,793 | | |
Corporate debt securities (revised from Level 1 classification in the Company’s 2014 annual report to level 2 classification)
|
| | | | — | | | | | | 27,102 | | | | | | 27,102 | | |
| | | | | 5,793 | | | | | | 27,102 | | | | | | 32,895 | | |
|
| | |
As of December 31, 2015
|
||||||||||||||||||||
| | |
Adjusted
Cost |
| |
Gross
Unrealized Gains |
| |
Gross
Unrealized Losses |
| |
Aggregate
fair value |
|||||||||||
| | |
U.S. dollars in thousands
|
||||||||||||||||||||
U.S. government treasuries
|
| | | | 10,898 | | | | | | 1 | | | | | | 25 | | | | | | 10,874 |
Corporate debt securities
|
| | | | 311,253 | | | | | | 38 | | | | | | 1,789 | | | | | | 309,502 |
| | | | | 322,151 | | | | | | 39 | | | | | | 1,814 | | | | | | 320,376 |
|
| | |
As of December 31, 2014
|
| |||||||||||||||||||||
| | |
Adjusted
Cost |
| |
Gross
Unrealized Gains |
| |
Gross
Unrealized Losses |
| |
Aggregate
fair value |
| ||||||||||||
| | |
U.S. dollars in thousands
|
| |||||||||||||||||||||
U.S. government treasuries
|
| | | | 5,794 | | | | | | 12 | | | | | | 13 | | | | | | 5,793 | | |
Corporate debentures
|
| | | | 27,282 | | | | | | 56 | | | | | | 236 | | | | | | 27,102 | | |
| | | | | 33,076 | | | | | | 68 | | | | | | 249 | | | | | | 32,895 | | |
|
| | |
Fair Value as of
December 31, 2015 |
| |||
Due in 1 year
|
| | | | 59,394 | | |
Due in 2 years
|
| | | | 91,748 | | |
Due in 3 years
|
| | | | 143,854 | | |
Due in 4 years
|
| | | | 25,380 | | |
Due after 4 years
|
| | | | — | | |
| | | | | 320,376 | | |
|
| | |
December 31,
|
| |||||||||
| | |
2015
|
| |
2014
|
| ||||||
| | |
U.S. dollars in thousands
|
| |||||||||
Raw materials
|
| | | | 3,566 | | | | | | 2,070 | | |
Work in process
|
| | | | 1,134 | | | | | | 9 | | |
Finished goods and spare parts
|
| | | | 37,976 | | | | | | 15,547 | | |
Total
|
| | | | 42,676 | | | | | | 17,626 | | |
|
| | |
U.S. dollars
in thousands |
| |||
Years ending December 31: | | | | | | | |
2016
|
| | | | 3,263 | | |
2017
|
| | | | 3,036 | | |
2018
|
| | | | 2,774 | | |
2019
|
| | | | 444 | | |
| | | | | 9,517 | | |
|
| | |
Ordinary
shares |
| |
Class A
Ordinary shares |
| |
Class B
Ordinary shares |
| |
Class C
Ordinary shares |
| |
Class D
Ordinary shares |
| |
Class E
Ordinary shares |
| |
Class F1
Ordinary shares |
| |
Class F2
Ordinary shares |
| |
Ordinary
shares (with liquidation preference) |
| |||||||||||||||||||||||||||
| | |
Number of shares – issued and outstanding
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance, as of January 1, 2013
|
| | | | | | | | | | 40,190,595 | | | | | | 11,913,135 | | | | | | 4,818,795 | | | | | | 43,469,535 | | | | | | 14,047,435 | | | | | | — | | | | | | — | | | | | | 77,546,385 | | |
Exercise of options
|
| | | | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 6,229,270 | | |
Issuance of F1 shares
|
| | | | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,297,995 | | | | | | — | | | | | | — | | |
Investment transaction (see note 8(d))
|
| | | | | | | | | | (8,119,760) | | | | | | (5,209,615) | | | | | | (1,428,305) | | | | | | (11,304,580) | | | | | | (2,297,735) | | | | | | 10,028,655 | | | | | | 41,547,280 | | | | | | (23,215,940) | | |
Balance, as of December 31, 2013
|
| | | | | | | | | | 32,070,835 | | | | | | 6,703,520 | | | | | | 3,390,490 | | | | | | 32,164,955 | | | | | | 11,749,700 | | | | | | 14,326,650 | | | | | | 41,547,280 | | | | | | 60,559,715 | | |
Exercise of options – prior to IPO
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,463,051 | | |
Conversion upon IPO closing
|
| | | | 203,976,196 | | | | | | (32,070,835) | | | | | | (6,703,520) | | | | | | (3,390,490) | | | | | | (32,164,955) | | | | | | (11,749,700) | | | | | | (14,326,650) | | | | | | (41,547,280) | | | | | | (62,022,766) | | |
IPO
|
| | | | 8,325,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Exercise of options – commencing IPO
|
| | | | 2,252,865 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Balance, as of December 31, 2014
|
| | | | 214,554,061 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Exercise of options
|
| | | | 4,293,369 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Balance, as of December 31, 2015
|
| | | | 218,847,430 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
|
|
Exercise price
|
| |
Outstanding
|
| |
Exercisable
|
| ||||||||||||||||||
|
(US $)
|
| |
Number
|
| |
Weighted average
remaining contractual life (in years) |
| |
Number
|
| |
Weighted average
remaining contractual life (in years) |
| ||||||||||||
|
0.096 – 2.991
|
| | | | 1,930,756 | | | | | | 1.22 | | | | | | 1,849,506 | | | | | | 1.12 | | |
|
3.7
|
| | | | 6,321,072 | | | | | | 3.79 | | | | | | 5,765,162 | | | | | | 3.82 | | |
|
6.98 – 7.1
|
| | | | 13,633,209 | | | | | | 5.07 | | | | | | 8,348,824 | | | | | | 5.03 | | |
|
25 – 46.39
|
| | | | 890,950 | | | | | | 6.08 | | | | | | 73,325 | | | | | | 5.63 | | |
|
55.63 – 59.33
|
| | | | 4,412,700 | | | | | | 6.69 | | | | | | 0 | | | | | | — | | |
| | | | | | 27,188,687 | | | | | | 4.79 | | | | | | 16,036,817 | | | | | | 4.15 | | |
|
| | |
Number
|
| |
Weighted
average exercise price |
| |
Aggregated
intrinsic value(1) |
| |||||||||
| | | | | | | | |
$
|
| |
U.S. dollars
in thousands |
| ||||||
Options outstanding at beginning of year
|
| | | | 26,782,719 | | | | | | 5.44 | | | | | | | | |
Changes during the year: | | | | | | | | | | | | | | | | | | | |
Granted(2)
|
| | | | 4,795,450 | | | | | | 56.28 | | | | | | | | |
Exercised
|
| | | | (4,218,174) | | | | | | 2.13 | | | | | | | | |
Forfeited
|
| | | | (171,308) | | | | | | 16.65 | | | | | | | | |
Expired
|
| | | | 0 | | | | | | — | | | | | | | | |
Options outstanding at end of year
|
| | | | 27,188,687 | | | | | | 14.85 | | | | | | 745,841 | | |
Options exercisable at year-end
|
| | | | 16,036,817 | | | | | | 5.20 | | | | | | 594,618 | | |
|
| | |
Number
|
| |
Weighted average
grant date fair value ($) |
| ||||||
Outstanding at beginning of year
|
| | | | 0 | | | | | | — | | |
Changes during the year: | | | | | | | | | | | | | |
Granted(1)
|
| | | | 357,265 | | | | | | 40.14 | | |
Vested
|
| | | | (75,195) | | | | | | 36.95 | | |
Forfeited
|
| | | | (889) | | | | | | 38.91 | | |
Outstanding at end of year
|
| | | | 281,181 | | | | | | 41.0 | | |
|
| | |
Year ended December 31,
|
| ||||||
| | |
2015
|
| |
2014
|
| |
2013
|
|
Risk-free interest rate
|
| |
0.75% – 2.01%
|
| |
0.7% – 2.17%
|
| |
0.19% – 2.74%
|
|
Expected option term
|
| |
2.16 – 6.95 years
|
| |
3.82 – 7.27 years
|
| |
1 – 12.35 years
|
|
Expected price volatility
|
| |
35% – 53%
|
| |
36% – 55%
|
| |
42% – 53%
|
|
Dividend yield
|
| |
0%
|
| |
0%
|
| |
0%
|
|
Weighted average fair value at the date of grant
|
| |
$16.05
|
| |
$7.28
|
| |
$2.22
|
|
| | |
Year ended December 31,
|
| |||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |||||||||
| | |
U.S. dollars in thousands
|
| |||||||||||||||
Cost of revenues
|
| | | | 26 | | | | | | 27 | | | | | | 16 | | |
Research and development, net
|
| | | | 8,016 | | | | | | 6,130 | | | | | | 2,320 | | |
Sales and marketing
|
| | | | 1,277 | | | | | | 5,201 | | | | | | 5,861 | | |
General and administrative
|
| | | | 35,650 | | | | | | 65,495 | | | | | | 4,934 | | |
Total stock-based compensation
|
| | | | 44,969 | | | | | | 76,853 | | | | | | 13,131 | | |
|
| | |
Year ended December 31,
|
| |||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |||||||||
| | |
U.S. dollars in thousands, except per share data
|
| |||||||||||||||
Numerator for basic and diluted net earnings (losses) per share:
|
| | | | | | | | | | | | | | | | | | |
Net income (loss)
|
| | | | 68,450 | | | | | | (30,084) | | | | | | 19,920 | | |
Amount allocated to participating shareholders
|
| | | | — | | | | | | — | | | | | | (16,105) | | |
Adjustment as a result of benefit to participating shareholders
|
| | | | — | | | | | | — | | | | | | (229,832) | | |
Net income (loss) applicable to ordinary shares for 2015 and 2014 and applicable to Class A ordinary shares for 2013
|
| | | | 68,450 | | | | | | (30,084) | | | | | | (226,017) | | |
Weighted average shares outstanding: | | | | | | | | | | | | | | | | | | | |
Denominator for basic net earnings per share
|
| | | | 217,362 | | | | | | 107,942 | | | | | | 37,477 | | |
Effect of dilutive securities: | | | | | | | | | | | | | | | | | | | |
Employee stock options and unvested RSUs
|
| | | | 20,495 | | | | | | — | | | | | | — | | |
Denominator for diluted net earnings per share
|
| | | | 237,857 | | | | | | 107,942 | | | | | | 37,477 | | |
Basic net earnings (losses) per share
|
| | | | 0.31 | | | | | | (0.28) | | | | | | (6.03) | | |
Diluted net earnings (losses) per share
|
| | | | 0.29 | | | | | | (0.28) | | | | | | (6.03) | | |
| | |
Year ended December 31,
|
| |||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |||||||||
| | |
U.S. dollars in thousands
|
| |||||||||||||||
Domestic* (Netherlands)
|
| | | | — | | | | | | (222) | | | | | | (109) | | |
Domestic* (Israel)
|
| | | | 79,402 | | | | | | (5,492) | | | | | | — | | |
Foreign*
|
| | | | 308 | | | | | | (12,105) | | | | | | 17,755 | | |
| | | | | 79,710 | | | | | | (17,819) | | | | | | 17,646 | | |
|
| | |
Year ended December 31,
|
| |||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |||||||||
| | |
U.S. dollars in thousands
|
| |||||||||||||||
Current taxes: | | | | | | | | | | | | | | | | | | | |
Domestic* (Israel)
|
| | | | (11,124) | | | | | | (4,452) | | | | | | — | | |
Foreign*
|
| | | | (404) | | | | | | (5,589) | | | | | | (713) | | |
| | | | | (11,528) | | | | | | (10,041) | | | | | | (713) | | |
Deferred taxes: | | | | | | | | | | | | | | | | | | | |
Domestic* (Israel)
|
| | | | 245 | | | | | | 611 | | | | | | — | | |
Foreign*
|
| | | | 23 | | | | | | (2,835) | | | | | | 2,987 | | |
| | | | | 268 | | | | | | (2,224) | | | | | | 2,987 | | |
| | | | | (11,260) | | | | | | (12,265) | | | | | | 2,274 | | |
|
| | |
Year ended December 31,
|
| |||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |||||||||
| | |
U.S. dollars in thousands
|
| |||||||||||||||
Income (loss) before taxes on income as reported in the statements of operations
|
| | | | 79,710 | | | | | | (17,819) | | | | | | 17,646 | | |
Statutory tax rate in Israel and the Netherlands for years ended
December 31, 2015 and 2013, respectively, and weighted average income tax rate for the year ended December 31, 2014* |
| | | | 26.5% | | | | | | 26.4% | | | | | | 25% | | |
Theoretical tax benefit (taxes on income)
|
| | | | (21,123) | | | | | | 4,704 | | | | | | (4,412) | | |
Increase (decrease) in taxes on income resulting from: | | | | | | | | | | | | | | | | | | | |
Tax adjustment for foreign subsidiaries subject to a different tax rate
|
| | | | 7 | | | | | | 3,665 | | | | | | 239 | | |
Reduced tax rate on income derived from “Preferred enterprise” and “Benefited Enterprise” plans**
|
| | | | 14,920 | | | | | | (6,734) | | | | | | 1,053 | | |
Usage of carry forward tax losses for which deferred taxes were not recorded
|
| | | | 243 | | | | | | — | | | | | | 3,276 | | |
Change in valuation allowance
|
| | | | (962) | | | | | | (536) | | | | | | 2,574 | | |
Non-deductible expenses and other permanent differences, mainly share based compensation expenses (see also note 8e)
|
| | | | (4,210) | | | | | | (7,512) | | | | | | (34) | | |
Increase in uncertain tax position, net
|
| | | | (629) | | | | | | (5,612) | | | | | | (434) | | |
Other
|
| | | | 494 | | | | | | (240) | | | | | | 12 | | |
Tax benefit (taxes) on income as reported in the statements of operations
|
| | | | (11,260) | | | | | | (12,265) | | | | | | 2,274 | | |
**) Per share amounts of the benefit resulting from “Preferred enterprise” and “Benefited Enterprise” plans:
|
| | | | |||||||||||||||
Basic
|
| | | $ | 0.07 | | | | | $ | (0.06) | | | | | $ | 0.03 | | |
Diluted
|
| | | $ | 0.06 | | | | | $ | (0.06) | | | | | $ | 0.03 | | |
|
| | |
U.S. dollars in thousands
|
| |||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |||||||||
Balance at the beginning of the year
|
| | | | 6,556 | | | | | | 1,402 | | | | | | 902 | | |
Increases based on tax positions taken during prior years
|
| | | | 258 | | | | | | 4,071 | | | | | | 732 | | |
Decrease in unrecognized tax positions as a result of statute of limitation expirations
|
| | | | (267) | | | | | | (201) | | | | | | (298) | | |
Additions (reductions) related to currency translation
|
| | | | (21) | | | | | | (461) | | | | | | 66 | | |
Increase due to tax positions taken during the current period
|
| | | | 638 | | | | | | 1,745 | | | | | | — | | |
Balance at the end of the year
|
| | | | 7,164 | | | | | | 6,556 | | | | | | 1,402 | | |
| | |
As of December 31, 2015
|
| |
As of December 31, 2014
|
| ||||||||||||||||||
| | |
Non-current
|
| |
Total
|
| |
Current
|
| |
Non-current
|
| ||||||||||||
Stock-based compensation
|
| | | | 2,113 | | | | | | 927 | | | | | | 459 | | | | | | 468 | | |
Provisions for employee benefits
|
| | | | 154 | | | | | | 119 | | | | | | 119 | | | | | | — | | |
Accrued severance pay
|
| | | | 210 | | | | | | 141 | | | | | | — | | | | | | 141 | | |
Net operating losses carryforward
|
| | | | 417 | | | | | | 757 | | | | | | 100 | | | | | | 657 | | |
Deferred tax assets, before valuation allowance
|
| | | | 2,894 | | | | | | 1,944 | | | | | | 678 | | | | | | 1,266 | | |
Valuation allowance
|
| | | | (1,769) | | | | | | (1,087) | | | | | | (73) | | | | | | (1,014) | | |
Net deferred tax assets
|
| | | | 1,125 | | | | | | 857 | | | | | | 605 | | | | | | 252 | | |
|
| | |
Year ended December 31,
|
| |||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |||||||||
| | |
U.S. dollars in thousands
|
| |||||||||||||||
Financial income (expenses), net
|
| | | | |||||||||||||||
Foreign currency gains (losses), net
|
| | | | (185) | | | | | | (3,104) | | | | | | 1,972 | | |
Bank charges
|
| | | | (421) | | | | | | (199) | | | | | | (117) | | |
Loss from sales of marketable securities
|
| | | | (311) | | | | | | (1,139) | | | | | | (466) | | |
| | | | | (917) | | | | | | (4,442) | | | | | | 1,389 | | |
|
| | |
Year ended December 31, 2015
|
| |||||||||||||||||||||
| | |
OEM
|
| |
AM
|
| |
Amounts not
allocated to segments |
| |
Consolidated
|
| ||||||||||||
| | |
U.S. dollars in thousands
|
| |||||||||||||||||||||
Revenues
|
| | | | 202,287 | | | | | | 38,585 | | | | | | | | | | | | 240,872 | | |
Cost of revenues
|
| | | | 49,314 | | | | | | 12,080 | | | | | | 26 | | | | | | 61,420 | | |
Gross profit
|
| | | | 152,973 | | | | | | 26,505 | | | | | | | | | | | | 179,452 | | |
Research and development, net
|
| | | | 33,249 | | | | | | 2,128 | | | | | | 8,016 | | | | | | 43,393 | | |
Sales and marketing
|
| | | | 421 | | | | | | 11,113 | | | | | | 1,277 | | | | | | 12,811 | | |
General and administrative
|
| | | | 8,794 | | | | | | 1,065 | | | | | | 35,650 | | | | | | 45,509 | | |
Segment performance
|
| | | | 110,509 | | | | | | 12,199 | | | | | | | | | | | | 77,739 | | |
Interest income
|
| | | | | | | | | | | | | | | | | | | | | | 2,888 | | |
Financial expenses, net
|
| | | | | | | | | | | | | | | | | | | | | | (917) | | |
Profit before taxes on income
|
| | | | | | | | | | | | | | | | | | | | | | 79,710 | | |
Depreciation
|
| | | | 3,296 | | | | | | 16 | | | | | | | | | | | | 3,312 | | |
|
| | |
Year ended December 31, 2014
|
| |||||||||||||||||||||
| | |
OEM
|
| |
AM
|
| |
Amounts not
allocated to segments |
| |
Consolidated
|
| ||||||||||||
| | |
U.S. dollars in thousands
|
| |||||||||||||||||||||
Revenues
|
| | | | 121,799 | | | | | | 21,838 | | | | | | | | | | | | 143,637 | | |
Cost of revenues
|
| | | | 30,293 | | | | | | 6,720 | | | | | | 27 | | | | | | 37,040 | | |
Gross profit
|
| | | | 91,506 | | | | | | 15,118 | | | | | | | | | | | | 106,597 | | |
Research and development, net
|
| | | | 28,995 | | | | | | 1,805 | | | | | | 6,130 | | | | | | 36,930 | | |
Sales and Marketing
|
| | | | 560 | | | | | | 7,151 | | | | | | 5,201 | | | | | | 12,912 | | |
General and administrative
|
| | | | 5,038 | | | | | | 904 | | | | | | 65,495 | | | | | | 71,437 | | |
Segment performance
|
| | | | 56,913 | | | | | | 5,258 | | | | | | | | | | | | (14,682) | | |
Interest income
|
| | | | | | | | | | | | | | | | | | | | | | 1,305 | | |
Financial expenses, net
|
| | | | | | | | | | | | | | | | | | | | | | (4,442) | | |
Loss before taxes on income
|
| | | | | | | | | | | | | | | | | | | | | | (17,819) | | |
Depreciation
|
| | | | 2,533 | | | | | | 18 | | | | | | | | | | | | 2,551 | | |
|
| | |
Year ended December 31, 2013
|
| |||||||||||||||||||||
| | |
OEM
|
| |
AM
|
| |
Amounts not
allocated to segments |
| |
Consolidated
|
| ||||||||||||
| | |
U.S. dollars in thousands
|
| |||||||||||||||||||||
Revenues
|
| | | | 63,290 | | | | | | 17,955 | | | | | | | | | | | | 81,245 | | |
Cost of revenues
|
| | | | 15,907 | | | | | | 5,207 | | | | | | 16 | | | | | | 21,130 | | |
Gross profit
|
| | | | 47,383 | | | | | | 12,748 | | | | | | | | | | | | 60,115 | | |
Research and development, net
|
| | | | 18,362 | | | | | | 1,627 | | | | | | 2,320 | | | | | | 22,309 | | |
Sales and Marketing
|
| | | | 337 | | | | | | 6,133 | | | | | | 5,861 | | | | | | 12,331 | | |
General and administrative
|
| | | | 4,767 | | | | | | 576 | | | | | | 4,934 | | | | | | 10,277 | | |
Segment performance
|
| | | | 23,917 | | | | | | 4,412 | | | | | | | | | | | | 15,198 | | |
Interest income
|
| | | | | | | | | | | | | | | | | | | | | | 1,059 | | |
Financial income, net
|
| | | | | | | | | | | | | | | | | | | | | | 1,389 | | |
Profit before taxes on income
|
| | | | | | | | | | | | | | | | | | | | | | 17,646 | | |
Depreciation
|
| | | | 1,696 | | | | | | 20 | | | | | | | | | | | | 1,716 | | |
|
| | |
Year ended December 31,
|
| |||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |||||||||
| | |
U.S. dollars in thousands
|
| |||||||||||||||
North America, mainly USA
|
| | | | 111,334 | | | | | | 77,680 | | | | | | 52,679 | | |
Japan
|
| | | | 7,234 | | | | | | 2,476 | | | | | | 9,642 | | |
South Korea
|
| | | | 16,265 | | | | | | 3,293 | | | | | | 801 | | |
Germany
|
| | | | 11,229 | | | | | | 3,237 | | | | | | 2,220 | | |
Sweden
|
| | | | 28,541 | | | | | | 16,356 | | | | | | 8,743 | | |
United Kingdom
|
| | | | 31,402 | | | | | | 20,404 | | | | | | 724 | | |
EUROPE – other
|
| | | | 6,471 | | | | | | 3,380 | | | | | | 1,525 | | |
Israel
|
| | | | 20,533 | | | | | | 12,512 | | | | | | 1,995 | | |
APAC – other
|
| | | | 5,790 | | | | | | 2,706 | | | | | | 1,304 | | |
South America
|
| | | | 1,867 | | | | | | 1,267 | | | | | | 1,496 | | |
Africa
|
| | | | 206 | | | | | | 326 | | | | | | 116 | | |
| | | | | 240,872 | | | | | | 143,637 | | | | | | 81,245 | | |
|
| | |
Year ended December 31,
|
| |||||||||||||||
| | |
2015
|
| |
2014
|
| |
2013
|
| |||||||||
| | |
U.S. dollars in thousands
|
| |||||||||||||||
Revenues from major customers
|
| | | | 139,975 | | | | | | 103,713 | | | | | | 56,941 | | |
Percent of total revenues
|
| | | | | | | | | | | | | | | | | | |
Customer A
|
| | | | 31% | | | | | | 33% | | | | | | 18% | | |
Customer B
|
| | | | 15% | | | | | | 23% | | | | | | 34% | | |
Customer C
|
| | | | 12% | | | | | | 11% | | | | | | 11% | | |
| MOBILEYE, N.V. | | |||
| By: | | |
/s/ Ziv Aviram
Ziv Aviram
Chief Executive Officer |
|