0001178913-23-001145 | 20-F | XBRL Viewer

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Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2022 shares
Entity Registrant Name	ALLOT LTD
Entity Central Index Key	0001365767
Document Type	20-F
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2022
Entity File Number	001-33129
Entity Incorporation State Country Code	IL
Entity Address, Address Line One	22 Hanagar Street
Entity Address, Address Line Two	Neve Ne’eman Industrial Zone B
Entity Address, City or Town	Hod-Hasharon
Entity Address, Country	IL
Entity Address, Postal Zip Code	4501317
Title of 12(b) Security	Ordinary Shares, par value ILS 0.10 per share
Trading Symbol	ALLT
Name of Exchange on which Security is Registered	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Auditor Attestation Flag	true
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Document Accounting Standard	U.S. GAAP
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	37,370,043
Auditor Firm ID	1281
Auditor Location	Tel-Aviv, Israel
Auditor Name	KOST FORER GABBAY & KASIERER
Business Contact [Member]
Contact Personnel Name	Rael Kolevsohn
Entity Address, Address Line One	22 Hanagar Street
Entity Address, Address Line Two	Neve Ne’eman Industrial Zone B
Entity Address, City or Town	Hod-Hasharon
Entity Address, Country	IL
Entity Address, Postal Zip Code	4501317
City Area Code	972
Local Phone Number	(9) 762-8419

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
CURRENT ASSETS:
Cash and cash equivalents	$ 12,295	$ 11,717
Restricted deposits	1,050	1,480
Short-term bank deposits	68,765	60,720
Available-for-sale marketable securities	4,293	11,531
Trade receivables, net (net of allowance for credit losses of $ 2,908 and $ 2,398 on December 31, 2022 and 2021, respectively)	44,167	30,829
Other receivables and prepaid expenses	7,985	8,490
Inventories	13,262	11,092
Total current assets	151,817	135,859
NON-CURRENT ASSETS:
Long-term bank deposits	0	215
Severance pay fund	371	407
Operating lease right-of-use assets	5,387	8,513
Trade receivables, net	4,934	6,643
Other assets	864	1,639
Property and equipment, net	14,236	15,000
Intangible assets, net	3,511	3,455
Goodwill	31,833	31,683
Total non-current assets	61,136	67,555
Total assets	212,953	203,414
CURRENT LIABILITIES:
Trade payables	11,661	3,940
Employees and payroll accruals	14,149	14,636
Deferred revenues	20,825	22,138
Short-term operating lease liabilities	2,542	2,785
Other payables and accrued expenses	11,424	11,614
Total current liabilities	60,601	55,113
LONG-TERM LIABILITIES:
Deferred revenues	7,285	15,942
Long-term operating lease liabilities	2,579	5,467
Accrued severance pay	940	884
Convertible debt	39,575	0
Total long-term liabilities	50,379	22,293
SHAREHOLDERS' EQUITY:
Ordinary shares of NIS 0.1 par value - Authorized: 200,000,000 shares at December 31, 2022 and 2021; Issued: 38,186,043 and 37,307,480 shares at December 31, 2022 and 2021, respectively; Outstanding: 37,370,043 and 36,491,480 shares at December 31, 2022 and 2021, respectively	954	929
Additional paid-in capital	303,298	293,803
Treasury share at cost - 816,000 shares at December 31, 2022 and 2021.	(3,998)	(3,998)
Accumulated other comprehensive income	(1,254)	271
Accumulated deficit	(197,027)	(164,997)
Total shareholders' equity	101,973	126,008
Total liabilities and shareholders' equity	$ 212,953	$ 203,414

CONSOLIDATED BALANCE SHEETS (Paretheticals 1) - ₪ / shares	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Ordinary shares, par value	₪ 0.1	₪ 0.1

CONSOLIDATED BALANCE SHEETS (Parentheticals 2) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 2,908	$ 2,398
Ordinary shares, shares authorized	200,000,000	200,000,000
Ordinary shares, shares issued	38,186,043	37,307,480
Ordinary shares, shares outstanding	37,370,043	36,491,480
Treasury stock, shares	816,000	816,000

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues:
Total revenues	$ 122,737	$ 145,600	$ 135,922
Cost of revenues:
Cost of Revenue	39,831	44,553	40,082
Gross profit	82,906	101,047	95,840
Operating expenses:
Research and development (net of grant participations of $ 825, $ 167 and $ 339 for the years ended December 31, 2022, 2021 and 2020, respectively)	49,800	47,093	43,447
Sales and marketing	49,393	52,337	47,528
General and administrative	15,982	15,145	13,894
Total operating expenses	115,175	114,575	104,869
Operating loss	(32,269)	(13,528)	(9,029)
Financial income, net	2,134	339	1,857
Loss before income tax expense	(30,135)	(13,189)	(7,172)
Income tax expense	1,895	1,851	2,176
Net loss	$ (32,030)	$ (15,040)	$ (9,348)
Net loss per share:
Net loss per share, basic	$ (0.87)	$ (0.42)	$ (0.27)
Net loss per share, diluted	$ (0.87)	$ (0.42)	$ (0.27)
Weighted average number of shares used in per share computations of net loss:
Weighted average number of shares used in per share, basic	36,975,424	36,050,540	35,007,201
Weighted average number of shares used in per share, diluted	36,975,424	36,050,540	35,007,201
Unrealized gain (loss) on available-for-sale marketable securities	$ (140)	$ (359)	$ 191
Net amount reclassified to earnings from available-for-sale marketable securities	2	(15)	(40)
Total comprehensive gain (loss) from available-for-sale marketable securities	(138)	(374)	151
Unrealized gain (loss) on foreign currency cash flow hedges transactions	(5,562)	1,269	723
Net amount reclassified to earnings from hedging transactions	4,175	(770)	(203)
Total comprehensive gain (loss) from hedge transactions	(1,387)	499	520
Total other comprehensive income (loss)	(1,525)	125	671
Total comprehensive loss	(33,555)	(14,915)	(8,677)
Product [Member]
Revenues:
Total revenues	60,980	88,229	92,524
Cost of revenues:
Cost of Revenue	21,345	31,603	28,524
Service [Member]
Revenues:
Total revenues	61,757	57,371	43,398
Cost of revenues:
Cost of Revenue	$ 18,486	$ 12,950	$ 11,558

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Grants participations excluded from research and development costs	$ 825	$ 167	$ 339

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Ordinary shares [Member]	Additional paid-in capital [Member]	Treasury share [Member]	Accumulated other comprehensive income (loss) [Member]	Accumulated deficit [Member]	Total
Balance at Dec. 31, 2019	$ 871	$ 276,112	$ (3,998)	$ (525)	$ (140,609)	$ 131,851
Balance, shares at Dec. 31, 2019	34,520,728
Exercise of share options and restricted share units	$ 25	1,810	0	0	0	1,835
Exercise of share options and restricted share units, shares	861,910
Share-based compensation	$ 0	5,143	0	0	0	5,143
Total other comprehensive income (loss)	0	0	0	671	0	671
Net loss	0	0	0	0	(9,348)	(9,348)
Balance at Dec. 31, 2020	$ 896	283,065	(3,998)	146	(149,957)	130,152
Balance, shares at Dec. 31, 2020	35,382,638
Exercise of share options and restricted share units	$ 33	2,778	0	0	0	2,811
Exercise of share options and restricted share units, shares	1,108,842
Share-based compensation	$ 0	7,960	0	0	0	7,960
Total other comprehensive income (loss)	0	0	0	125	0	125
Net loss	0	0	0	0	(15,040)	(15,040)
Balance at Dec. 31, 2021	$ 929	293,803	(3,998)	271	(164,997)	$ 126,008
Balance, shares at Dec. 31, 2021	36,491,480					36,491,480
Exercise of share options and restricted share units	$ 25	226	0	0	0	$ 251
Exercise of share options and restricted share units, shares	878,563
Share-based compensation	$ 0	9,269	0	0	0	9,269
Total other comprehensive income (loss)	0	0	0	(1,525)	0	(1,525)
Net loss	0	0	0	0	(32,030)	(32,030)
Balance at Dec. 31, 2022	$ 954	$ 303,298	$ (3,998)	$ (1,254)	$ (197,027)	$ 101,973
Balance, shares at Dec. 31, 2022	37,370,043					37,370,043

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Amount after tax and reclassification adjustments of other comprehensive income (loss).

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- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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+ Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net loss	$ (32,030)	$ (15,040)	$ (9,348)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	7,352	5,575	4,312
Share-based compensation	9,165	8,000	5,198
Capital loss	0	0	18
Amortization of issuance costs of Convertible debt	171	0	0
Changes in operating assets and liabilities:
Increase (decrease) in accrued severance pay, net	92	(58)	128
Decrease (increase) in other assets	775	1,006	(2,048)
Decrease in accrued interest and amortization of premium on available-for sale marketable securities	71	182	357
Decrease (increase) in operating lease right-of-use asset	3,126	(4,055)	1,910
Increase (decrease) in operating leases liability	(3,131)	3,604	(2,323)
Decrease (increase) in trade receivables	(11,629)	(16,787)	8,323
Decrease (increase) in other receivables and prepaid expenses	(55)	4,902	(7,272)
Decrease (increase) in inventories	(2,170)	1,494	(1,918)
Decrease in long-term deferred taxes, net	0	420	96
Increase (decrease) in trade payables	7,721	1,848	(9,584)
Increase (decrease) in employees and payroll accruals	(385)	458	2,047
Increase (decrease) in deferred revenues	(9,970)	1,640	(5,182)
Increase (decrease) in other payables and accrued expenses	(1,668)	(1,559)	3,061
Net cash used in operating activities	(32,565)	(8,370)	(12,225)
Cash flows from investing activities:
Decrease (increase) in restricted deposits	430	(280)	32,896
Investment in short-term deposits	(7,830)	(13,495)	(41,883)
Purchase of property and equipment	(5,642)	(7,642)	(7,582)
Investment in available-for sale marketable securities	0	0	(1,219)
Proceeds from sales and maturity of available-for sale marketable securities	7,030	15,094	34,847
Acquisition	(500)	0	0
Net cash provided by (used in) investing activities	(6,512)	(6,323)	17,059
Cash flows from financing activities:
Proceeds from exercise of share options	251	2,811	1,835
Issuance of convertible debt	39,404	0	0
Net cash provided by financing activities	39,655	2,811	1,835
Increase (decrease) in cash and cash equivalents	578	(11,882)	6,669
Cash and cash equivalents at the beginning of the year	11,717	23,599	16,930
Cash and cash equivalents at the end of the year	12,295	11,717	23,599
Cash paid during the year for:
Taxes	413	633	410
Non-cash activity:
Right-of-use assets obtained in the exchange for operating lease liabilities	$ 196	$ 6,746	$ 1,080

GENERAL

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

GENERAL

NOTE 1: -

GENERAL

Allot Ltd. (the "Company") was incorporated in November 1996 under the laws of the State of Israel. The Company is engaged in developing, selling and marketing of leading innovative network intelligence (“Allot Smart”) and security solutions (“Allot Secure”) for mobile and fixed service providers as well as enterprises worldwide. Our solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security including mobile security, distributed denial of service (DDoS) protection, IoT security, and more. Allot Smart generates insightful intelligence that allows CSPs to analyze every packet of network, user, application and security data, CSPs can see, control and secure their networks, optimizing performance, minimizing costs and maximizing end-user QoE. Allot Secure provide security service for the mass market and SMB at home, at work and on the go for mobile, fixed and 5G converged networks. Allot Secure enables customers to detect security breaches and protect networks and network users from attacks.

The Company's Ordinary Shares are listed in the NASDAQ Global Select Market under the symbol "ALLT" from its initial public offering in November 2006. Since November 2010, the Company's Ordinary Shares have been listed for trading in the Tel Aviv Stock Exchange as well.

The Company holds twelve wholly-owned subsidiaries (the Company together with it's subsidiaries shall collectively be referred to as "Allot"): Allot Communications, Inc. in Burlington, Massachusetts, United-States (the "U.S. subsidiary"), which was incorporated in 1997 under the laws of the State of California, Allot Communication Europe SARL, France (the "European subsidiary"), which was incorporated in 1998 under the laws of France, Allot Communications Japan K.K. in Tokyo, Japan (the "Japanese subsidiary"), which was incorporated in 2004 under the laws of Japan, Allot Communication (UK) Limited (the "UK subsidiary"), which was incorporated in 2006 under the laws of England and Wales, Allot Communications (Asia Pacific) Pte. Ltd. ("the Singaporean subsidiary"), which was incorporated in 2006 under the laws of Singapore, Allot India Private Limited. (the "Indian subsidiary”), which was incorporated in 2012 under the laws of India and commenced its activity in 2013, Allot Communications Africa (PTY) Ltd. (the "African subsidiary”), which was incorporated in 2013 under the laws of South Africa, Allot Communications Spain, S.L. Sociedad Unipersonal (the "Spanish subsidiary”), which was incorporated in 2015 under the laws of Spain, Allot Communications (Colombia) S.A.S (the "Colombian subsidiary”), which was incorporated in 2015 under the laws of Colombia and Allot MexSub (the "Mexican subsidiary"), which was incorporated in 2015 under the laws of Mexico, Allot Turkey Komunikasion Hizmeleri limited (the “Turkish subsidiary”), which was incorporated in 2018 under laws of Turkey, Allot Australia (PTY) LTD (the “Australian subsidiary”), which was incorporated in 2018 under the laws of Australia.

The European, Singaporean, Indian, Colombian, U.S, Japanese, African and Turkish subsidiaries are engaged in sales and marketing, technical support services and other services of the Company's products. The UK and Australian subsidiaries are engaged in sales and marketing and other services.

The Spanish and Mexican subsidiaries commenced operations in 2015 and are engaged in the sales and marketing, technical support and development activities of one of the Company's product lines.

Acquisitions:

On January 14, 2018 (the "Netonomy acquisition date"), the Company entered into a purchase agreement with the shareholders of Netonomy LTD ("Netonomy"), a developer of software-based cybersecurity solutions for the connected home.

The total consideration for the acquisition was $3,765, which consisted of $3,180 paid in cash, holdback amount summing to $303 and additional contingent consideration at a fair value of $282 at the Netonomy acquisition date. As of December 31, 2021, the contingent consideration is estimated at a fair value of $834, The change in fair value of the contingent consideration was recorded to operating expenses.

According to the agreement, the holdback amount (“Holdback Amount”) summing to $1,100 would be held to partially satisfy any claims for indemnification. Such amount shall be paid in three installments consisting each one 40%, 40% and 20% of the Holdback amount following the first, second and 30-months anniversaries of the Closing Date, respectively. Notwithstanding the aforementioned, a sum of $797 out of the Holdback amount shall be paid provided that certain employees keep working in the Company during the here mentioned periods (“the Restricted Holdback Amount”). As of December 31, 2021 the Company has no Holdback liability.

In this agreement, the contingent consideration was payable over a two-and-a-half-year term, starting April 1, 2018and ended September 30, 2020 ("Contingent Consideration Period") depending on the Company’s revenues from Netonomy’s technology, and has payments cap of $1,100. A maximum sum of $797 out of the contingent consideration amount shall be paid provided that certain employees keep working in the Company during the mentioned period. The obligations in respect of the holdback amount and the contingent consideration are presented under other payables and accrued expenses.

As of December 31, 2022, the Contingent Consideration Period ended however, part of Contingent Consideration was not settled yet. See Note 11c.

The acquisition was accounted for using the purchase method of accounting in accordance with ASC No. 805, “Business Combinations” ("ASC No. 805"). Accordingly, the purchase price was allocated according to the estimated fair values of the assets acquired and liabilities assumed and the excess of the purchase price over the net tangible and identified intangible assets was assigned to goodwill. The fair value of intangible assets was determined by management with the assistance of a third-party valuation.

On July 2018, the merger of Netonomy with the Company was approved by the Israeli tax authorities with Allot as the receiving company and Netonomy as the transferring company and March 31, 2018 as the Merger Date.

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date:

	Fair value

Non-current assets	$	4
Account Payable		(11	)
Other Payables		(142	)
IPR&D		3,659
Goodwill		121

Net assets acquired	$	3,631

The acquired assets are net of cash balance of $132.

IPR&D is related to new technology that is still under development. Netonomy’s solution provides a simple, reliable and secure network for connected homes through a minimal footprint agent installed on the home router, which provides visibility into the network and blocks external and internal attacks. Acquisition costs in a total amount of $49 were recorded to operating expenses. The Company started to depreciate the IPR&D asset from Q3 2019 as the R&D phase was completed and the related product was ready to be sold.

Unaudited pro forma condensed results of operations:

Pro forma results of operations related to this acquisition have not been prepared because they are not material to the Company’s consolidated Statements of Comprehensive Loss.

On December 18, 2022 (the "Keepers acquisition date"), the Company entered into an Bussines combination (the "Keepers PPA") with the shareholders of Keepers Child Safety Ltd. ("Keepers") a private company which has a buisness of developing and marketing software to protect children from digital online threats.

The total consideration for the acquisition was $1,152, which consisted of $500 paid in cash and an additional contingent consideration estimated at fair value of $652 at the Keepers acquisition date. As of December 31, 2022, the contingent consideration is estimated at fair value of $656.

The contingent consideration consists of two components: (a) $1,000 paid against actual income. (b) All expected revenues exceeding $1,000 multiplied by 3.0% limited for the period of 10 years as of Valuation Date.

The acquisition was accounted for using the purchase method of accounting in accordance with ASC No. 805, “Business Combinations” ("ASC No. 805"). Accordingly, the purchase price was allocated according to the estimated fair values of the assets acquired and the excess of the purchase price over the net tangible and identified intangible assets was assigned to goodwill.

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date:

	Fair value

Technology	$	1,002
Goodwill		150

Net assets acquired	$	1,152

Unaudited pro forma condensed results of operations:

Pro forma results of operations related to this acquisition have not been prepared because they are not material to the Company’s consolidated Statements of Comprehensive Loss.

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

NOTE 2: -

SIGNIFICANT ACCOUNTING POLICIES

The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP").

Use of estimates:

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company's management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Financial statements in U.S. dollars:

The majority operation of the Company and its subsidiaries are generated in U.S. dollars ("dollar") or linked to the dollar. The Company's management believes that the dollar is the currency of the primary economic environment in which the Company and its subsidiaries operate. Thus, the functional and reporting currency of the Company and its subsidiaries is the dollar.

Accordingly, monetary accounts maintained in currencies other than the dollar are remeasured into U.S. dollars in accordance with Accounting Standards Codification No. 830, "Foreign Currency Matters" ("ASC No. 830"). All transactions gains and losses from the remeasurement of monetary balance sheet items are reflected in the statements of operations as financial income or expenses as appropriate. Financial gains and (losses) related to exchange rate differences in connection with revaluation of assets and liabilities in non-dollar denominated currencies for the years ended December 31, 2022, 2021, and 2020 ammounted to $ 442, $ (454) and $ 552, respectively.

Principles of consolidation:

The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany balances and transactions have been eliminated upon consolidation.

Cash and cash equivalents:

The Company considers all unrestricted highly liquid investments which are readily convertible into cash, with a maturity of three months or less at the date of acquisition, to be cash equivalents.

Restricted deposits:

The restricted deposits are held in favor of financial institutions in respect of fulfillment of operating obligations.

Short-term bank deposits:

Short-term bank deposits are deposits with maturities of more than three months but less than one year at the balance sheet date. The deposits are in dollars and bear interest at an annual weighted average rate of 4.05% and 0.71% on December 31, 2022 and 2021, respectively. In connection with the Company's hedging transactions, the Company is required to maintain reserve deposits balances in the bank. Out of the short-term bank deposits, a total of $5,000 is due to the hedging transactions as of December 31, 2022 and 2021.

Trade Receivable and Allowances:

Trade receivables are recorded and carried at the original invoiced amount which was recognized as revenues less an allowance for any potential uncollectible amounts. The Company makes estimates of expected credit losses for the allowance for credit losses and allowance for unbilled receivables based upon its assessment of various factors, including historical experience, the age of the trade receivable balances, credit quality of its customers, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect its ability to collect from customers. The estimated credit loss allowance is recorded as general and administrative expenses on the Company’s consolidated statements of income (loss).

The following table displays a rollforward of the total allowance for credit losses for the years ended December 31, 2022, 2021, and 2020.

	2022			2021			2020

Total allowance for credit losses – January 1		2,398			2,309			1,867
Current-period provision for expected credit losses		823			293			1,894
Write-offs		(64	)		(9	)		(934	)
Recoveries collected		(249	)		(195	)		(518	)

Total allowance for credit losses – December 31		2,908			2,398			2,309

Marketable securities:

Marketable securities consist mainly of corporate bonds. The Company determines the appropriate classification of marketable securities at the time of purchase and re-evaluates such designation at each balance sheet date. In accordance with FASB ASC No. 320 “Investments- Debt and Equity Securities,” the Company classifies marketable securities as available-for-sale. Available-for-sale securities are stated at fair value, with unrealized gains and losses reported in accumulated other comprehensive income (loss), a separate component of shareholders’ equity, net of taxes. Realized gains and losses on sales of marketable securities, as determined on a specific identification basis, are included in financial income, net. The amortized cost of marketable securities is adjusted for amortization of premium and accretion of discount to maturity, both of which, together with interest, are included in financial income, net. The Company has classified all marketable securities as short-term, even though the stated maturity date may be one year or more beyond the current balance sheet date, because it is probable that the Company will sell these securities prior to maturity to meet liquidity needs or as part of risk versus reward objectives.

Starting on January 1, 2020, as a result of the adoption of ASC 326, available-for-sale debt securities with an amortized cost basis in excess of estimated fair value are assessed to determine what amount of that difference, if any, is caused by expected credit losses. Expected credit losses on available-for-sale debt securities are recognized in interest and other income (expense), net, on the Company’s consolidated statements of income (loss), and any remaining unrealized losses, net of taxes, are included in accumulated other comprehensive income (loss) in Shareholder's equity. As of December 31,2022 and 2021, no credit loss impairment was recorded regarding the available for sale marketable securities.

Inventories:

Inventories are stated at the lower of cost or net realizable value. Inventory write-offs are provided to cover risks arising primarily from end of life products and from slow-moving items, technological obsolescence, and excess inventory. Inventory net write-offs during the years ended December 31, 2022, 2021 and 2020 amounted to $ 905, $ 4,593 and $ 1,928, respectively, and were recorded in cost of revenues.

Provision for slow moving inventory as of December 31, 2022 and 2021 amounted to $ 8,862 and $ 9,103, respectively.

Inventory cost is determined using the weighted average cost method.

Property and equipment, net:

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

		%

Lab equipment		16 - 25
Computers and peripheral equipment		33
Office furniture		6
SECaaS equipment*		16
Leasehold improvements		Over the shorter of the term of the lease or the useful life of the asset

*SECaaS equipment – the equipment used for SECaaS revenues

Goodwill:

Goodwill represents the excess of the purchase price over the fair value of net assets of purchased businesses. Under Accounting Standards Codification No. 350, "Intangibles-Goodwill and Other" ("ASC No. 350"), goodwill is not amortized, but rather subject to an annual impairment test, or more often if there are indicators of impairment present. In accordance with ASC No. 350 the Company performs an annual impairment test at December 31 each year.

ASC 350 allows an entity to first assess qualitative factors to determine whether it is necessary to perform the 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 the Company elects not to use this option, or if the Company determines that it is more likely than not that the fair value of a reporting unit is less than its carrying value, then the Company prepares a quantitative analysis to determine whether the carrying value of reporting unit exceeds its estimated fair value. If the carrying value of a reporting unit exceeds its estimated fair value, the Company recognizes an impairment of goodwill for the amount of this excess, in accordance with the guidance in FASB Accounting Standards Update ("ASU") No. 2017-04, Intangibles - Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment, which the Company adopted as of January 1, 2020.

The Company operates in one operating segment, and this segment comprises its only reporting unit. The Company has performed an annual impairment analysis as of December 31, 2022 and determined that the carrying value of the reporting unit was lower than the fair value of the reporting unit. Fair value is determined using market value. During the years 2022, 2021 and 2020, no impairment losses were recorded.

Impairment of long-lived assets, Right-of-use assets, and intangible assets subject to amortization:

Property and equipment, Right-of-use assets, and intangible assets subject to amortization are reviewed for impairment in accordance with ASC No. 360, "Accounting for the Impairment or Disposal of Long-Lived Assets," whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets.

Intangible assets acquired in a business combination are recorded at fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and any accumulated impairment losses. The useful lives of intangible assets are assessed to be either finite or indefinite. Intangible assets that are not considered to have an indefinite useful life are amortized over their estimated useful lives.

Some of the acquired intangible assets are amortized over their estimated useful lives in proportion to the economic benefits realized. This accounting policy results in accelerated amortization of such customer relationships as compared to the straight-line method. All other intangible assets are amortized over their estimated useful lives on a straight-line basis.

The Company has performed an annual impairment analysis as of December 31, 2022 and determined that there were no circumstances indicate the asset’s carrying value may not be recoverable. During the years 2022, 2021 and 2020, no impairment losses were recorded.

Revenue recognition:

The Company generates revenues mainly from selling its products along with related maintenance and support services. At times, these arrangements may also include professional services, such as installation services or training. Some of the Company’s product sales are through resellers, distributors, OEMs and system integrators, all of whom are considered end-users. The Company also generates revenues from services, in which the Company provides network filtering and security services to its customers.

The Company recognizes revenue under the core principle that transfer of control to the Company’s customers should be depicted in an amount reflecting the consideration the Company expects to receive. As such, the Company identifies a contract with a customer, identifies the performance obligations in the contract, determines the transaction price, allocates the transaction price to each performance obligation in the contract and recognizes revenues when (or as) the Company satisfies a performance obligation.

Some of the Company's contracts usually include combinations of products and services, that are capable of being distinct and accounted for as separate performance obligations. The products are distinct as the customer can derive the economic benefit of it without any professional services, updates or technical support. The Company allocates the transaction price to each performance obligation based on its relative standalone selling price out of the total consideration of the contract. For support, the Company determines the standalone selling prices based on the price at which the Company separately sells a renewal support contract on a stand-alone basis. For professional services, the Company determines the standalone selling prices based on the price at which the Company separately sells those services on a stand-alone basis. If the standalone selling price is not observable, the Company estimates the standalone selling price by taking into account available information such as geographic or regional specific factors, internal costs, profit objectives, and internally approved pricing guidelines related to the performance obligation.

Product revenue is recognized at a point in time when the performance obligation is being satisfied. Maintenance and support related revenues are deferred and recognized on a straight-line basis over the term of the applicable maintenance and support agreement. Professional services are usually recognized at a point in time when the performance obligation is being satisfied.

The Company elected the practical expedient to not assess whether a contract has a significant financing component if the expectation at contract inception is such that the period between payment by the customer and the transfer of the promised goods or services to the customer will be one year or less.

In certain contracts, the Company provides the customer with financing for a period exceeding the regular credit terms for customers. In such circumstances, the Company recognizes revenue based on the amount that reflects the price that would have been paid by the customer in cash on the date of receipt of the goods or services, and the balance is recognized in finance income.

The Company also enters into service contracts, in which the Company provides security as a service (SECaaS) solution to operators, which the Company considers as its customers. The Company's security as a service solution is offered to operators on a Revenue Share business model, where both the Company and the operator share the revenue generated from the operator's subscribers. Most of the Company's security as a service contracts contain a single performance obligation comprised of series of distinct goods and services satisfied over time. The contracts consideration is based on usage by the operator's subscribers. As such, the Company allocates the variable consideration in those contracts to distinct service periods in which the service is provided and recognizes revenue for each distinct service period.

Deferred revenue includes amounts received from customers for which revenue has not yet been recognized. Deferred revenues are classified as short and long-term based on their contractual term and recognized as (or when) the Company performs under the contract.

The portion of the transaction price allocated to remaining performance obligations represents contracts that have not yet been recognized that include deferred revenue and amounts not yet received that will be recognized as revenue in future periods. As of December 31, 2022, the aggregate amount of the transaction price allocated to remaining performance obligations that the Company expects to recognize is $ 88 million of which approximately $ 53 million is estimated to be recognized before December 31, 2023 and approximately $ 35 million is estimated to be recognized after December 31, 2023.

The Company pays sales commissions to sales and marketing personnel based on their certain predetermined sales goals. The company evaluates its commission and capitalize only incremental commissions costs which are considered recoverable costs of obtaining a contract with a customer. These capitalized sales commissions costs are amortized over a period of benefit which is typically over the term of the customer contracts as initial commission rates are commensurate with the renewal commission rates. Amortization expenses related to these costs are included in sales and marketing expenses in the consolidated statements of operations. For the year ended December 31, 2022, the deferred commission was $1,863 and the amortization of deferred commission was $1,296. The Company uses the practical expedient and does not assess the existence of a significant financing component when the difference between payment and revenue recognition is a year or less.

The Company estimated variable consideration related to product returns based on its experience with historical product returns and other known factors. Such provisions amounted to $90 and $233 as of December 31, 2022 and 2021, respectively. As of December 31, 2022 and 2021, this provision was recorded as part of other payables and accrued expenses.

The Company recognizes term-based license agreements at the point in time when control transfers and the associated maintenance revenues over the contract period.

Cost of revenues:

Cost of revenues consists primarily of costs of materials and the cost of maintenance and services, resulting from costs associated with support, customer success and professional services.

Research and development costs:

Accounting Standards Codification No. 985-20, requires capitalization of certain software development costs subsequent to the establishment of technological feasibility.

Based on the Company's product development process, technological feasibility is established upon the completion of a working model. The Company does not incur material costs between the completion of a working model and the point at which the products are ready for general release. Therefore, research and development costs are charged to the consolidated statement of comprehensive loss as incurred.

Severance pay:

The liability in Israel for substantially all of the Company`s employees in respect of severance pay liability is calculated in accordance with Section 14 of the Severance Pay Law -1963 (herein- "Section 14"). Section 14 states that Company's contributions for severance pay shall be in line of severance compensation and upon release of the policy to the employee, no additional obligations shall be conducted between the parties regarding the matter of severance pay and no additional payments shall be made by the Company to the employee.

Furthermore, the related obligation and amounts deposited on behalf of such obligation under Section 14, are not stated on the balance sheet, because pursuant to the current ruling, they are legally released from the obligation to employees once the deposits have been paid.

There are a limited number of employees in Israel, for whom the Company is liable for severance pay. The Company's liability for severance pay for its Israeli employees was calculated pursuant to Section 14, based on the most recent monthly salary of its Israeli employees multiplied by the number of years of employment as of the balance sheet date for such employees.

The Company's liability was partly provided by monthly deposits with severance pay funds and insurance policies and the remainder by an accrual.

Severance expense for the years ended December 31, 2022, 2021 and 2020, amounted to $ 3,516, $ 2,465 and $ 3,619, respectively.

Accounting for share-based compensation:

The Company accounts for share-based compensation in accordance with Accounting Standards Codification No. 718, "Compensation - Stock Compensation" ("ASC No. 718") that requires companies to estimate the fair value of equity-based payment awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as an expense over the requisite service periods in the Company's consolidated statement of comprehensive loss. The Company recognizes compensation expenses for the value of its awards based on the straight-line method over the requisite service period of each of the awards, net of estimated forfeitures.

The Company accounted for changes in award terms as a modification in accordance with ASC 718. A modification to the terms of an award should be treated as an exchange of the original award for a new award with total compensation cost equal to the grant-date fair value of the original award plus the incremental value measured at the same date. Under ASC 718, the calculation of the incremental value is based on the excess of the fair value of the new (modified) award based on current circumstances over the fair value of the original award measured immediately before its terms are modified based on current circumstances.

The Company estimated the forfeiture rate based on historical forfeitures of equity awards and adjusted the rate to reflect changes in facts and circumstances if any.

The following table sets forth the total share-based compensation expense resulting from share options, restricted share units and Phantoms granted to employees included in the consolidated statements of comprehensive loss, for the years ended December 31, 2022, 2021 and 2020:

	Year ended December 31,
	2022		2021		2020

Cost of revenues	$	1,133	$	581	$	355
Research and development		3,168		2,499		1,368
Sales and marketing		2,943		3,212		2,145
General and administrative		1,921		1,708		1,330

Total share-based compensation expense	$	9,165	$	8,000	$	5,198

During 2022, 2021 and 2020 no options were granted by the Company.

The computations of expected volatility and suboptimal exercise multiple is based on the average of the Company's realized historical share price. The computation of the suboptimal exercise multiple and the forfeiture rates are based on the grantee's expected exercise prior and post vesting termination behavior. The interest rate for a period within the contractual life of the award is based on the U.S. Treasury Bills yield curve in effect at the time of grant.

The Company currently has no plans to distribute dividends and intends to retain future earnings to finance the development of its business.

The expected life of the share options represents the weighted-average period the share options are expected to remain outstanding and is a derived output of the binomial model. The expected life of the share options is impacted by all of the underlying assumptions used in the Company's model.

The option pricing model of the of restricted share units ("RSUs") is based on the closing market value of the underlying shares at the date of grant.

The expected annual pre-vesting forfeiture rate affects the number of vested RSUs. Based on the Company's historical experience, the pre-vesting is in the range of 0%-30% in the years 2022, 2021 and 2020.

Treasury share:

In the past, the Company repurchased its Ordinary shares on the open market and holds such shares as treasury share. The Company presents the cost to repurchase treasury share as a reduction of shareholders' equity.

Concentration of credit risks:

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities, short-term bank deposits, trade receivables and derivative instruments.

The majority of cash and cash equivalents and short-term deposits of the Company are invested in dollar deposits in major U.S. and Israeli banks. Such investments in the United States may be in excess of insured limits and are not insured in other jurisdictions. Generally, the cash and cash equivalents and short-term bank deposits may be redeemed upon demand, and therefore, bear minimal risk.

Marketable securities include investments in dollar linked corporate and government bonds. Marketable securities consist of highly liquid debt instruments with high credit standing. The Company’s investment policy, approved by the Board of Directors, limits the amount the Group may invest in any one type of investment or issuer, thereby reducing credit risk concentrations. Management believes that the portfolio is well diversified and, accordingly, minimal credit risk exists with respect to these marketable debt securities.

The Company's trade receivables are derived from sales to customers located in EMEA, as well as in APAC, Latin America and the United States. Concentration of credit risk with respect to trade receivables is limited by credit limits, ongoing credit evaluation and account monitoring procedures. The Company performs ongoing credit evaluations of its customers and establishes an allowance for credit losses on a specific basis. Allowance for credit losses amounted to $ 2,908 and $ 2,398 as of December 31, 2022 and 2021, respectively.

As of 31.12.2022 we have past due of $15 million out of it approximatly $10.1 million past due receivables from two resellers in Africa and Latin America.

The Company utilizes foreign currency forward contracts to protect against risk of overall changes in exchange rates for some of its currencies exposure. The derivative instruments hedge a portion of the Company's non-dollar currency exposure. Counterparties to the Company’s derivative instruments are all major financial institutions and its exposure is limited to the amount of any asset resulting from the forward contracts.

Government grants:

Grants from the Israel Innovation Authority (IIA):

Participation grants from the Israel Innovation Authority (Previously known as the Office of the Chief Scientist) for research and development activity are recognized at the time the Company is entitled to such grants on the basis of the costs incurred and included as a deduction of research and development costs. Research and development non royalty bearing grants recognized amounted to $ 539, $ (42) and $ 339 in 2022, 2021 and 2020, respectively.

Grants from the Spain Tax Authorities:

Participation grants from the Spain Tax Authorities for research and development activity are recognized at the time the Company is entitled to such grants on the basis of the costs incurred and included as a deduction of research and development costs. Research and development non royalty bearing grants recognized amounted to $ 286 and $ 209 in 2022 ,2021 respectively.

Income taxes:

The Company accounts for income taxes in accordance with Accounting Standards Codification No. 740, "Income Taxes" ("ASC No. 740"). ASC No. 740 prescribes the use of the liability method, whereby deferred tax asset and liability account balances are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse.

The Company provides a valuation allowance, if necessary, to reduce deferred tax assets to their estimated realizable value if it is more likely than not that some portion or all of the deferred tax assets will not be realized. The deferred tax assets and liabilities are classified to non-current assets and liabilities, respectively.

ASC No. 740 contains a two-step approach to recognizing and measuring a liability for uncertain tax positions. 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 more than 50% likely to be realized upon ultimate settlement. The Company classifies interest related to unrecognized tax benefits in taxes on income.

Basic and diluted net income (loss) per share:

Basic net income (loss) per share is computed based on the weighted average number of Ordinary Shares outstanding during each year. Diluted net income (loss) per share is computed based on the weighted average number of Ordinary Shares outstanding during each year, plus dilutive potential Ordinary Shares considered outstanding during the year, in accordance with FASB ASC 260 "Earnings Per Share".

For the years ended December 31, 2022, 2021 and 2020, all outstanding options and RSUs have been excluded from the calculation of the diluted net loss per share since their effect was anti-dilutive. The amount of those options and RSU’s was: 2,735,125, 2,613,894, 2,897,273 respectively.

Comprehensive loss:

The Company accounts for comprehensive loss in accordance with Accounting Standards Codification No. 220, "Comprehensive Income" ("ASC No. 220"). This statement establishes standards for the reporting and display of comprehensive loss and its components in a full set of general purpose financial statements. Comprehensive loss represents all changes in shareholders' equity during the period except those resulting from investments by, or distributions to shareholders. The Company determined that its items of other comprehensive loss relate to unrealized gains and losses on hedging derivative instruments and unrealized gains and losses on available-for-sale marketable securities.

The following table shows the components and the effects on net loss of amounts reclassified from accumulated other comprehensive loss as of December 31, 2022:

	Year ended December 31, 2022
	Unrealized gain (losses) on marketable securities			Unrealized gains (losses) on cash flow hedges			Total

Balance as of December 31, 2021	$	98		$	173		$	271
Changes in other comprehensive loss before reclassifications		(140	)		(5,562	)		(5,702	)
Amounts reclassified from accumulated other comprehensive loss to:
Cost of revenues		-			791			791
Operating expenses		-			3,384			3,384
Financial income, net		2			-			2

Net current-period other comprehensive loss		(138	)		(1,387	)		(1,525	)

Balance as of December 31, 2022	$	(40	)	$	(1,214	)	$	(1,254	)

There was no income tax expense or benefit allocated to other comprehensive income, including reclassification adjustments for the year ended December 31, 2022.

Fair value of financial instruments:

The carrying amounts of short-term bank deposits, trade receivables, other receivables, trade payables and other payables approximate their fair value due to the short-term maturities of such instruments.

The Company measures its cash and cash equivalents, marketable securities, derivative instruments and earn-out considerations at fair value. Fair value is an exit price, representing the amount that would be received if the Company were to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability.

The Company uses a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:

Level 1 -

Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2 -

Include other inputs that are directly or indirectly observable in the marketplace, other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets with insufficient volume or infrequent transactions, or other inputs that are observable (model-derived valuations in which significant inputs are observable), or can be derived principally from or corroborated by observable market data; and


	Level 3 -	Unobservable inputs which are supported by little or no market activity.

The Company categorized each of its fair value measurements in one of those three levels of hierarchy. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

The Company measures its marketable securities and foreign currency derivative contracts at fair value. Marketable securities and foreign currency derivative contracts are classified within Level 2 as the valuation inputs are based on quoted prices and market observable data of similar instruments.

The Company's earn-out considerations were classified within Level 3. This year, the valuation methodology used by the Company to calculate the fair value consideration is the discounted cash flow using purchase method by taking into account, forecast future revenues, using WACC of 18.5% for Keepers.

Derivatives and hedging:

The Company accounts for derivatives and hedging based on Accounting Standards Codifiation No. 815, "Derivatives and Hedging" ("ASC No. 815").

The Company accounts for its derivative instruments as either assets or liabilities and carries them at fair value. Derivative instruments that are not designated and qualified as hedging instruments must be adjusted to fair value through earnings. For highly effective derivative instruments that hedge the exposure to variability in expected future cash flows that are designated as cash flow hedges. Gain or loss on the derivative instrument is reported as a component of accumulated other comprehensive income (loss) in shareholders' equity and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings.

Business combinations:

The Company accounts for business combinations in accordance with ASC No. 805. ASC No. 805 requires recognition of assets acquired, liabilities assumed, and any non-controlling interest at the acquisition date, measured at their fair values as of that date. Any excess of the fair value of net assets acquired over the purchase price is recorded as goodwill and any subsequent changes in estimated contingencies are to be recorded in earnings. In addition, changes in valuation allowance related to acquired deferred tax assets and acquired income tax positions are to be recognized in earnings.

aa.

Lease:

The company accounts for leases under ASC 842, Leases. The Company determines if an arrangement is a lease and the classification of that lease at inception based on: (1) whether the contract involves the use of an identified asset, (2) whether the Company obtains the right to substantially all the economic benefits from the use of the asset throughout lease period, and (3) whether the Company has a right to direct the use of the asset. The Company elected to not recognize a lease liability and a right-of-use (“ROU”) asset for leases with a term of twelve months or less. The Company also elected the practical expedient to not separate lease and non-lease components for its leases.

ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make minimum lease payments arising from the lease. ROU assets are initially measured at amounts, which represents the discounted present value of the lease payments over the lease, plus any initial direct costs incurred. The lease liability is initially measured at lease commencement date based on the discounted present value of minimum lease payments over the lease term. The implicit rate within the company's operating leases is generally not determinable, therefore the Company uses it’s Incremental Borrowing Rate (“IBR”) based on the information available at commencement date in determining the present value of lease payments. The Company’s IBR is estimated to approximate the interest rate for collateralized borrowing with similar terms and payments and in economic environments where the leased asset is located. Certain leases include options to extend or terminate the lease.

An option to extend the lease is considered in connection with determining the ROU asset and lease liability when it is reasonably certain that the Company will exercise that option. An option to terminate is considered unless it is reasonably certain that the Company will not exercise the option.

Payments under our lease arrangements are primarily fixed, however, certain lease agreements contain variable payments, which are expensed as incurred and not included in the operating lease right-of-use assets and liabilities. Variable lease payments are primarily comprised of payments affected by common area maintenance and utility charges.

ab.

Warranty costs:

The Company generally provides three months software and a one-year hardware assurance for its products. A provision is recorded for estimated warranty costs at the time revenues are recognized based on the Company's experience. Warranty expenses for the years ended December 31, 2022, 2021 and 2020 were immaterial.

ac.

Recently Adopted Accounting Pronouncements:

In August 2020, the FASB issued ASU 2020-06, ASC Subtopic 470-20 “Debt—Debt with “Conversion and Other Options” and ASC subtopic 815-40 “Hedging—Contracts in Entity’s Own Equity”. The standard reduced the number of accounting models for convertible debt instruments and convertible preferred stock. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting and (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in capital. The amendments in this update are effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company adopted ASU 2020-06 beginning January 1, 2022. The adoption did not have a material impact on the Company’s consolidated financial statements.

AVAILABLE-FOR-SALE MARKETABLE SECURITIES

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

AVAILABLE-FOR-SALE MARKETABLE SECURITIES

NOTE 3: -

AVAILABLE-FOR-SALE MARKETABLE SECURITIES

The following is a summary of available-for-sale marketable securities:

	December 31, 2022									December 31, 2021
	Amortized cost		Gross unrealized gain		Gross unrealized loss			Fair value		Amortized cost		Gross unrealized gain		Gross unrealized loss			Fair value

Available-for-sale - matures within one year:
Corporate debentures		4,029		-		(37	)		3,992		6,334		36		-			6,370

		4,029		-		(37	)		3,992		6,334		36		-			6,370
Available-for-sale - matures after one year through three years:
Governmental debentures		-		-		-			-		176		-		-			176
Corporate debentures		304		-		(3	)		301		4,920		67		(2	)		4,985
	$	4,333	$	-	$	(40	)	$	4,293	$	11,430	$	103	$	(2	)	$	11,531

As of December 31, 2022, the Company had no investments with a significant unrealized loss for more than 12 months.

As of December 31,2022, no credit loss impairment was recorded regarding the available for sale marketable securities.

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

NOTE 4: -

FAIR VALUE MEASUREMENTS

In accordance with ASC No. 820, the Company measures its marketable securities and foreign currency derivative instruments at fair value. Cash equivalents and available for sale marketable securities are classified within Level 1 or Level 2. This is because these assets are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs.

This year, the earn-out liability related to the acquisitions of Keepers are classified within Level 3 because these liabilities were based on present value calculations and an external valuation model whose inputs include market interest rates, estimated operational capitalization rates and volatilities. The fair value of the consideration was determined according to discounted cash flow.

The Company's financial net assets measured at fair value on a recurring basis, including accrued interest components, consisted of the following types of instruments as of December 31, 2022 and 2021, respectively:

	As of December 31, 2022
	Fair value measurements using input type
	Level 1		Level 2			Level 3			Total
Assets:
Available-for-sale marketable securities	$	-	$	4,293		$	-		$	4,293
Foreign currency derivative contracts		-		23			-			23

Liabilities:
Earn-out liability		-		-			(656	)		(656	)
Foreign currency derivative contracts		-		(901	)		-			(901	)

Total financial net assets	$	-	$	3,415		$	(656	)	$	2,759

	As of December 31, 2021(*)
	Fair value measurements using input type
	Level 1		Level 2			Level 3		Total

Assets:
Available-for-sale marketable securities	$	-	$	11,531		$	-	$	11,531
Foreign currency derivative contracts		-		*980			-		980

Liabilities:
Foreign currency derivative contracts		-		*(78	)		-		(78	)

Total financial net assets	$	-	$	12,433		$	-	$	12,433

(*) Reclassifed.

Fair value measurements using significant unobservable inputs (Level 3):

Balance at January 1, 2022	$	-

Earn Out liability – Keepers		652
Earn Out liability adjustments due to exchange rates
Adjustment due to change in forecast and time value of earn-out consideration		4

Balance at December 31, 2022	$	656

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

DERIVATIVE INSTRUMENTS

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE INSTRUMENTS

NOTE 5: -

DERIVATIVE INSTRUMENTS

The Company enters into hedge transactions with a major financial institution, using derivative instruments, primarily forward contracts and options to purchase and sell foreign currencies, in order to reduce the net currency exposure associated with anticipated expenses (primarily salaries and related expenses that are designated as cash flow hedges), trade receivables and forecasted revenues denominated in currencies other than U.S. dollar.

The Company currently hedges such future exposures for a maximum period of two years. However, the Company may choose not to hedge certain foreign currency exchange exposures for a variety of reasons, including but not limited to immateriality, accounting considerations and

the prohibitive economic cost of hedging particular exposures. There can be no assurance the hedges will offset more than a portion of the financial impact resulting from movements in foreign currency exchange rates.

The Company records all derivatives on the consolidated balance sheets at fair value in accordance with ASC No. 820 at Level 2. Cash flow hedges are recorded in other comprehensive income (loss) until the hedged item is recognized in earnings. The Company does not enter into derivative transactions for trading purposes. The net income (loss) recognized in "Financial income (expense), net" during the years ended December 31, 2022, 2021 and 2020 was $1,520, $1,272 and $1,200, respectively.

The Company had a net unrealized gain (loss) associated with cash flow hedges of $(1,214) and $173 recorded in other comprehensive loss as of December 31, 2022 and 2021, respectively. As of December 31, 2022 and 2021, the Company had outstanding hedge transactions in the net amount of $33,711 and $62,439, respectively.

The fair value of the outstanding foreign exchange contracts recorded by the Company on its consolidated balance sheets as of December 31, 2022 and 2021, as assets and liabilities are as follows:

Foreign exchange forward and		December 31,
options contracts	Balance sheet	2022			2021

Fair value of foreign exchange hedge transactions	Other receivables and prepaid expenses	$	12		$	973
Fair value of foreign exchange hedge transactions	Other payables and accrued expenses		(838	)		(11	)

Total derivatives designated as hedging instruments	Other Comprehensive profit (loss)	$	(1,214	)	$	173

Gain or loss on the derivative instruments, which partially offset the foreign currency impact from the underlying exposures, reclassified from other comprehensive loss to cost of revenues for the years ended December 31, 2022, 2021 were $(503), $70, respectively. The amount reclassified from other comprehensive loss to operating expenses for the years ended December 31, 2022, 2021 were $(3,674), $700, respectively.

Non-designated hedges:

The Company also uses foreign currency forward contracts to mitigate variability in gains and losses generated from the re-measurement of certain monetary assets and liabilities denominated in foreign currencies. These derivatives do not qualify for special hedge accounting treatment. These derivatives are carried at fair value with changes recorded in financial income, net. Changes in the fair value of these derivatives are largely offset by the re-measurement of the underlying assets and liabilities. The derivatives have maturities of up to twelve months.

As of December 31, 2022 and 2021, the Company’s outstanding non-hedge transactions were $11,944 and $22,275, respectively.

The fair value of the outstanding non-designated foreign exchange contracts recorded by the Company on its consolidated balance sheets as of December 31, 2022 and 2021, as assets and liabilities are as follows:

Foreign exchange forward and		December 31,
options contracts	Balance sheet	2022			2021

Fair value of foreign exchange non-designated hedge transactions	Other receivables and prepaid expenses	$	11		$	7
Fair value of foreign exchange non-designated hedge transactions	Other payables and accrued expenses		(63	)		(67	)

Total derivatives non-designated as hedging instruments		$	(52	)	$	(60	)

OTHER RECEIVABLES AND PREPAID EXPENSES

12 Months Ended

Dec. 31, 2022

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

OTHER RECEIVABLES AND PREPAID EXPENSES

NOTE 6: -

OTHER RECEIVABLES AND PREPAID EXPENSES

	December 31,
	2022		2021

Prepaid expenses	$	4,560	$	4,029
Government authorities		2,108		2,947
Accrued interest		1,059		198
Foreign currency derivative contracts		23		980
Short-term lease deposits		163		185
Others		72		151

	$	7,985	$	8,490

INVENTORIES

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 7: -

INVENTORIES

	December 31,
	2022		2021

Raw materials	$	2,003	$	1,494
Finished goods		11,259		9,598

	$	13,262	$	11,092

As of December 31, 2022 and 2021, the finished products line item above includes deferral of the cost of goods sold for which revenue was not yet recognized in the amount of approximately $1,729 and $413, respectively.

PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

NOTE 8: - PROPERTY AND EQUIPMENT, NET

	December 31,
	2022		2021
Cost:
Lab equipment	$	19,711	$	18,871
Computers and peripheral equipment		11,856		14,316
Office furniture and equipment		1,568		1,510
Leasehold improvements		3,039		3,039
SECaaS equipment		7,722		5,886

		43,896		43,622
Accumulated depreciation:
Lab equipment		16,037		14,408
Computers and peripheral equipment		8,239		11,164
Office furniture and equipment		589		535
Leasehold improvements		1,453		1,230
SECaaS equipment		3,342		1,285

		29,660		28,622

Depreciated cost	$	14,236	$	15,000

Depreciation expense for the years ended December 31, 2022, 2021 and 2020 was $6,406, $4,635 and $3,704 , respectively.

INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, NET

NOTE 9: -

INTANGIBLE ASSETS, NET

The following table shows the Company's intangible assets for the periods presented:

	Weighted Average Useful life		December 31,
	(Years)		2022		2021
Original Cost:

Technology		3.8-6	$	10,113	$	9,111
Backlog		2.8		1,877		1,877
Customer relationships		4.4		3,592		3,592
Software license		5		1,651		1,651
IP R&D		6		3,659		3,659

			$	20,892	$	19,890
Accumulated amortization:

Technology			$	9,117	$	9,111
Backlog				1,877		1,877
Customer relationships				3,592		3,592
Software license				660		330
IP R&D				2,135		1,525

			$	17,381	$	16,435

Amortized cost			$	3,511	$	3,455

Amortization expense for the years ended December 31, 2022, 2021 and 2020 were $946 $940 and $610, respectively.

Estimated amortization expense for the years ending:

Year ending December 31,

2023	$	1,107
2024		1,107
2025		802
Thereafter		495

Total	$	3,511

OTHER PAYABLES AND ACCRUED EXPENSES

12 Months Ended

Dec. 31, 2022

Payables and Accruals [Abstract]

OTHER PAYABLES AND ACCRUED EXPENSES

NOTE 10: -

OTHER PAYABLES AND ACCRUED EXPENSES

	December 31,
	2022		2021

Accrued expenses	$	7,056	$	7,405
Deferred revenues from IIA		110		282
Government authorities		1,955		2,592
Foreign currency derivative contracts		901		78
Holdback and contingent earnout		1,216		834
Provision for returns		90		233
Others		96		190

	$	11,424	$	11,614

COMMITMENTS AND CONTINGENT LIABILITIES

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENT LIABILITIES

NOTE 11: -

COMMITMENTS AND CONTINGENT LIABILITIES

a. Lease commitments:

The Group's facilities are leased under several lease agreements.

In addition, the Company has various operating lease agreements with respect to motor vehicles.

Lease expenses of office rent and vehicles for the years ended December 31, 2022, 2021 and 2020 were approximately $3,784, $3,141 and $3,282, respectively. Expenses for short- term leases in 2022 were $82.

The following table represents the weighted-average remaining lease term and discount rate:

	Year ended December 31,
	2022			2021

Weighted average remaining lease term	2.1 years			2.9 years
Weighted average discount rate		1.49	%		1.39	%

The discount rate was determined based on the estimated collateralized borrowing rate of the Company, adjusted to the specific lease term and location of each lease.

Cash paid for amounts included in measurement of lease liabilities during the years ended 2022, 2021 and 2020 were $2,843, $3,253, and $3,812, respectively.

Maturities of operating lease liabilities were as follows:

Year ending December 31,
2023	2,553
2024	2,090
2025	526
2026 and thereafter	21

Total lease payments	5,190

Less - imputed interest	(69	)

Present value of lease liabilities	5,121

During the year ended December 31, 2022 the short-term maturities of operating lease liabilities which were not recognized under ASU No. 2016-02, Leases (ASC 842) were $126.

b. Liens and guarantees:

As of December 31, 2022, the Company has provided bank guarantees in respect of performance obligation to customers in an aggregate amount of approximately $576, in addition to bank guarantees in favor of leases agreements in an aggregate amount of approximately $411.

c. Litigations:

On November 2, 2021 two founders and six employees of Netonomy Ltd., a company acquired by Allot in January, 2018, filed a civil claim against Allot (the “plaintiffs”), alleging that Allot breached certain clauses of the share acquisition agreement claiming damages in the amount of app. NIS 2.6M. Allot has filed its defense statement refuting all claims and denying any breach and obligation to compensate. As of December 31, 2022, the results of this claim were uncertain. On March 6, 2023 the Company signed a settlement agreement with the two founders. There are ongoing legal proceedings against the rest. See Note 18.

SHAREHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2022

Stockholders' Equity Note [Abstract]

SHAREHOLDERS' EQUITY

NOTE 12: -

SHAREHOLDERS' EQUITY

Company's shares:

As of December 31, 2022, the Company's authorized share capital consists of NIS 20,000,000 divided into 200,000,000 Ordinary Shares, par value NIS 0.1 per share. Ordinary Shares confer on their holders the right to receive notice to participate and vote in general meetings of the Company, the right to a share in the excess of assets upon liquidation of the Company, and the right to receive dividends if declared.

Share option plan:

A summary of the Company's share option activity, pertaining to its option plans for employees and related information is as follows:

	Year ended December 31,
	2022					2021					2020
	Number of shares upon exercise			Weighted average exercise price		Number of shares upon exercise			Weighted average exercise price		Number of shares upon exercise			Weighted average exercise price

Outstanding at beginning of year		675,986		$	7.99		1,134,256		$	7.68		1,453,741		$	7.59
Granted		-		$	-		-		$	-		-		$	-
Forfeited		(139,494	)	$	16.08		(30,861	)	$	16.78		(28,657	)	$	17.47
Exercised		(48,653	)	$	5.01		(427,409	)	$	6.54		(290,828	)	$	6.25

Outstanding at end of year		487,839		$	5.96		675,986		$	7.99		1,134,256		$	7.68

Exercisable at end of year		487,839		$	5.96		660,986		$	8.04		1,065,498		$	7.83

Vested and expected to vest		487,839		$	5.96		675,584		$	7.99		1,132,007		$	7.68

The aggregate intrinsic value represents the total intrinsic value (the difference between the Company's closing share price on the last trading day of the fiscal years 2022, 2021 and 2020 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders if all option holders exercised their options on December 31, 2022, 2021 and 2020, respectively. This amount may change based on the fair market value of the Company's share. The total intrinsic value of options outstanding as of December 31, 2022, 2021 and 2020, were $10, $3,481and $4,578, respectively.

The total intrinsic value of exercisable options as of December 31, 2022, 2021 and 2020, were approximately $10, $3,392 and $4,226, respectively. The total intrinsic value of options vested and expected to vest as of December 31, 2022, 2021 and 2020, were approximately $10, $3,479 and $4,568, respectively.

The total intrinsic value (the difference between the Company's closing share price on the exercise date and the exercise price) of options exercised during the years ended December 31, 2022, 2021 and 2020 were approximately $93, $4,113 and $1,437, respectively. The number of options vested during the year ended December 31, 2022 was 15,000. The weighted-average remaining contractual life of the outstanding options as of December 31, 2022 is 1.34 years. The weighted-average remaining contractual life of exercisable options as of December 31, 2022 is 1.34 years.

The options outstanding as of December 31, 2022, have been classified by exercise price, as follows:

Exercise price		Shares upon exercise of options outstanding as of December 31, 2022		Weighted average remaining contractual life		Shares upon exercise of options exercisable as of December 31, 2022
				Years

$	15.2-17.07		4,500		1.12		4,500
$	10.0 -14.68		52,750		0.78		52,750
$	5.01-9.7		73,563		2.28		73,563
$	0.1-4.95		357,026		1.23		357,026

			487,839				487,839

The following provides a summary of the restricted share unit activity for the Company for the two years ended December 31, 2022:

	Year ended December 31,
	2022					2021
	Number of shares upon exercise			Weighted average share price		Number of shares upon exercise			Weighted average share price

Outstanding at beginning of year		1,937,908		$	12.92		1,763,017		$	8.63
Granted		1,473,400		$	5.22		1,149,500		$	16.26
Vested		(829,910	)	$	15.82		(681,433	)	$	15.82
Forfeited		(325,778	)	$	5.78		(293,176	)	$	16.39

Unvested at end of year		2,255,620		$	8.52		1,937,908		$	12.92

As of December 31, 2022, $12,648,859 unrecognized compensation cost related to RSUs is expected to be recognized over a weighted average vesting period of 1.96 years.

Under the terms of the above option plans, options may be granted to employees, officers, directors and various service providers of the Company and its subsidiaries. The options vest over a four-year period, subject to the continued employment of the employee. The options generally expire no later than ten years from the date of the grant. The exercise price of the options at the date of grant under the plans may not be less than the nominal value of the shares into which such options are exercised, any options, which are forfeited or cancelled before expiration, become available for future grants. As of December 31, 2022, 193,679 Ordinary shares are available for future issuance under the option plans.

The Company granted 1,473,400 and 1,149,500 RSUs in 2022 and 2021, respectively under the 2016 option plan. RSUs vest over a period of between three to four years, subject to the continued employment of the employee. RSUs that are cancelled or forfeited become available for future grants.

- 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

TAXES ON INCOME

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

TAXES ON INCOME

NOTE 13: -

TAXES ON INCOME

Corporate tax rates:

The Israeli corporate income tax rate was 23% in 2022, 2021 and 2020.

Foreign Exchange Regulations:

Commencing in taxable year 2012, the Company has elected to measure its taxable income and file its tax return under the Israeli Income Tax Regulations (Principles Regarding the Management of Books of Account of Foreign Invested Companies and Certain Partnerships and the Determination of Their Taxable Income) 1986 ("Foreign Exchange Regulations"). Under the Foreign Exchange Regulations, an Israeli company must calculate its tax liability in U.S. Dollars according to certain rules. The tax liability, as calculated in U.S. Dollars is translated into NIS according to the exchange rate as of December 31st of each year.

Tax benefits under Israel's law for the Encouragement of Capital Investments, 1959 ("the Law"):

In 1998, the production facilities of the Company related to its computational technologies were granted the status of an "Approved Enterprise" under the Law. In 2004, an expansion program was granted the status of "Approved Enterprise". According to the provisions of the Law, the Company has elected the alternative track of benefits and has waived Government grants in return for tax benefits. The period of tax benefits, detailed above, is limited to the earlier of 12 years from the commencement of production, or 14 years from the approval date.

According to the provisions of the Law under the alternative track, the Company's income attributable to the Approved Enterprise program may be tax-exempt for a period of two years commencing with the year it first earns taxable income, and subject to corporate taxes at the reduced rate of 10% to 25%, for an additional period of five to eight years depending upon the level of foreign ownership of the Company.

The Law was significantly amended effective April 1, 2005 ("the 2005 - Amendment"). The 2005 - Amendment includes revisions to the criteria for investments qualified to receive tax benefits as a Beneficiary Enterprise and among other things, simplifies the approval process. The Company elected 2006 and 2009 as "year of election" under the 2005 - Amendment. As of December 31, 2022 the Beneficiary Enterprise programs are no longer in effect as the 12-year activation period commencing on the election year has ended.

In addition, the 2005-Amendment provides that terms and benefits included in any letter of approval already granted will remain subject to the provisions of the Law as they were on the date of such approval. Therefore, the Company's existing Approved Enterprise will generally not be subject to the provisions of the 2005 - Amendment.

The entitlement to the Approved Enterprise benefits is contingent upon the fulfillment of the conditions stipulated in the Law, regulations published thereunder, and the criteria set forth in the specific letters of approval. In the event of failure to comply with these conditions, the benefits may be canceled, and the Company may be required to refund the amount of the benefits, in whole or in part, including interest and linkage to changes in the Israeli CPI. As of December 31, 2022, management believes that the Company meets the aforementioned conditions.

If the Company pays a dividend out of exempt income derived from the Approved, it will be subject to corporate tax in respect of the gross amount distributed, including any taxes thereon, at the rate which would have been applicable had it not enjoyed the alternative benefits, generally 10%-25%, depending on the percentage of the Company's Ordinary shares held by foreign shareholders. Following amendment 74 to the Law as part of the Law for Economic Efficiency (Legislative Amendments for Attaining the Budget Goals for Fiscal Years 2021 and 2022), 2021 which was enacted in November 2021, any dividends distributed, or deemed as distributed under the Law, after August 15, 2021, by a company which earned exempt income, which it did not elect to release under the terms of amendment 74, will be allocated pro-rata between exempt income and other sources and taxed accordingly. The dividend recipient is subject to withholding tax at the rate of 15% applicable to dividends from approved enterprises, if the dividend is distributed during the tax exemption period or within twelve years thereafter. The Company currently has no plans to distribute dividends and intends to retain future earnings to finance the development of its business.

As of December 31, 2022, there is no exempt income earned by the Company “Approved Enterprises”.

Income from sources other than the "Approved Enterprise" during the benefit period will be subject to tax at the regular corporate tax rate.

As of January 1, 2011, new legislation amending the Law came into effect (the "2011 Amendment"). The 2011 Amendment introduced a new status of "Preferred Company" and "Preferred Enterprise", replacing the then existing status of "Beneficiary Company" and "Beneficiary Enterprise".

A Preferred Company is an industrial company owning a Preferred Enterprise which meets certain conditions (including a minimum threshold of 25% export).

Under the 2011 Amendment, a uniform corporate tax rate will apply to all qualifying income of the Preferred Company. The uniform corporate tax rate is 7.5% in areas in Israel designated as Development Zone A and 16% elsewhere in Israel. Effective July 1, 2021 income of a Preferred Enterprise attributable to assets other than the industrial assets of the company, such as marketing intangibles, will be subject to the standard corporate tax rate.

A dividend distributed from income which is attributed to a Preferred Enterprise/Special Preferred Enterprise will be subject to withholding tax at source at the following rates: (i) Israeli resident corporation – 0%, (ii) Israeli resident individual – 20% as of 2014 and thereafter (iii) non-Israeli resident - 20% as of 2014 and thereafter subject to a reduced tax rate under the provisions of an applicable double tax treaty.

In December 2016, the Economic Efficiency Law (Legislative Amendments for Applying the Economic Policy for the 2017 and 2018 Budget Years), 2016 which includes Amendment 73 to the Law for the Encouragement of Capital Investments ("the 2016 - Amendment") was published.

The December 2016 amendment prescribes special tax tracks for technological enterprises, the tax tracks under the amendment are as follows:

Preferred technological enterprise - an enterprise whose total consolidated revenues is less than NIS 10 billion. A preferred technological enterprise, located in the center of Israel will be subject to tax at a rate of 12% on profits derived from intellectual property as defined in the Law and the regulations promulgated thereunder (in development area A - a tax rate of 7.5%).

Special preferred technological enterprise - an enterprise whose total consolidated revenues exceeds NIS 10 billion. Such enterprise will be subject to tax at a rate of 6% on profits derived from intellectual property, regardless of the enterprise’s geographical location. Income of the Preferred Technological Enterprise or a Special Preferred Technological Enterprise, which is not derived from its intellectual property is subject to tax at the ordinary corporate tax rate.

Under the transition provisions of the 2016 Amendment, the Company may decide to irrevocably implement the tax tracks available under the 2016 Amendment, while waiving benefits provided under the prior tax tracks it obtained under the Law, or to remain subject to the prior tax tracks it obtained under the Law. As of December 31, 2022, there are no benefits earned by the Company “Special preferred technological enterprise”.

Tax benefits under the law for the Encouragement of Industry (Taxes), 1969 (the "Encouragement Law"):

The Encouragement Law, provides several tax benefits for industrial companies. An industrial company is defined as a company resident in Israel, at least 90% of the income of which in a given tax year exclusive of income from specified Government loans, capital gains, interest and dividends, is derived from an industrial enterprise owned by it. An industrial enterprise is defined as an enterprise whose major activity in a given tax year is industrial production activity.

Management believes that the Company is currently qualified as an "industrial company" under the Encouragement Law and as such, enjoys tax benefits, including: (1) deduction of purchase of know-how and patents and/or right to use a patent over an eight-year period; (2) the right to elect, under specified conditions, to file a consolidated tax return with additional related Israeli industrial companies and an industrial holding company; and (3) expenses related to a public offering on the Tel-Aviv Stock Exchange and on recognized stock markets outside of Israel, are deductible in equal amounts over three years.

Eligibility for benefits under the Encouragement Law is not subject to receipt of prior approval from any governmental authority. No assurance can be given that the Israeli tax authorities will agree that the Company qualifies, or, if the Company qualifies, then the

Company will continue to qualify as an industrial company or that the benefits described above will be available to the Company in the future.

Pre-tax income (loss) is comprised as follows:

	Year ended December 31,
	2022			2021			2020

Domestic	$	(32,826	)	$	(15,419	)	$	(8,722	)
Foreign		2,691			2,230			1,550

	$	(30,135	)	$	(13,189	)	$	(7,172	)

A reconciliation of the theoretical tax expenses, assuming all income is taxed at the statutory tax rate applicable to the income of the Company and the actual tax expenses is as follows:

	Year ended December 31,
	2021			2021			2020

Loss before taxes on income	$	(30,135	)	$	(13,189	)	$	(7,172	)

Theoretical tax income computed at the Israeli statutory tax rate (23% for the years 2022, 2021 and 2020, respectively)	$	(6,931	)	$	(3,034	)	$	(1,650	)

Changes in valuation allowance		4,116			2,604			1,979
Increase in losses and temporary differences due to change in Israeli corporate and “Approved Enterprise" tax		-			-			-

Write off of prepaid and withholding taxes		1,388			875			1,066
Foreign tax rates differences related to subsidiaries		46			14			35
Non-deductible expenses		512			71			72
Capital note and inter-company balances release taxes		544			100			-
Other expenses and Exchange rate differences		195			488			(383	)
Non-deductible share-based compensation expense		1,925			633			557
Change in expense associated with tax positions for current year		100			100			500

Actual tax expense	$	1,895		$	1,851		$	2,176

	g.	Taxes on income

		Income tax expense is comprised as follows:

	Year ended December 31,
	2022		2021		2020

Current taxes	$	391	$	334	$	513
Deferred taxes expense		-		420		97
Taxes in respect of previous years		16		122		-
Write off of prepaid and withholding taxes		1,388		875		1,066
Change in expense associated with tax positions for current year		100		100		500

	$	1,895	$	1,851	$	2,176

Taxes on income by jurisdiction were as follows:

	Year ended December 31,
	2022		2021		2020

Domestic	$	1,129	$	973	$	870
Foreign		766		878		1,306

Total	$	1,895	$	1,851	$	2,176

Domestic
Current taxes	$	-		$	-	$	(2	)
Taxes in respect of previous years		(20	)		37		-
Write off of prepaid and withholding taxes		1,149			936		872

Total Domestic	$	1,129		$	973	$	870

Foreign
Current taxes	$	391	$	334		$	515
Deferred taxes expense		-		420			97
Taxes in respect of previous years		36		85			-
Write off of prepaid and withholding taxes		239		(61	)		194
Change in expense associated with tax positions for current year		100		100			500

Total foreign	$	766	$	878		$	1,306
Total income tax expense (benefit)	$	1,895	$	1,851		$	2,176

h. Net operating losses carry forward:

The Company has accumulated net operating losses for Israeli tax purposes as of December 31, 2022, in the amount of approximately $81,510, which may be carried forward and offset against taxable income in the future for an indefinite period. As of December 31, 2022, the Company recorded a full valuation allowance with respect to its net deferred tax assets in Allot Ltd. and wrote-off prepaid and withholding taxes of $5,703 as the Company does not expect to utilize these tax assets in the near future. In addition, the Company has accumulated capital losses for tax purposes as of December 31, 2022, of approximately $27,191, which may be carried forward and offset against taxable capital gains in the future for an indefinite period. Management currently believes that since the Company has a history of losses, and uncertainty with respect to future taxable income, it is more likely than not that the deferred tax assets regarding the loss carry forwards will not be utilized in the foreseeable future. Thus, a valuation allowance was provided to reduce deferred tax assets to their realizable value.

The U.S. subsidiary has accumulated losses for U.S. federal income tax return purposes of approximately $2,429 and $5,439 for state taxes. The federal accumulated losses for tax purposes expire between 2026 and 2037. The state accumulated losses for tax purposes began to expire in 2014. As of December 31, 2022, the Company recorded a valuation allowance with respect to its deferred tax assets in the US Subsidiary.

A portion of the losses are subject to limitations of Internal Revenue Code, Section 382, which in general provides that utilization of net operating losses is subject to an annual limitation if an ownership change results from transactions increasing the ownership of certain shareholders or public groups in the share of a corporation by more than 50 percentage points over a three-year period. The annual limitations may result in the expiration of losses before utilization.

Deferred income taxes:

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company's deferred income taxes are as follows:

	December 31,
	2022			2021
Deferred tax assets:
Operating and capital loss carryforwards	$	25,962		$	22,332
Research and development		10,260			9,161
Employee benefits		1,286			1,629
Intangible assets		77			179
Operating lease liabilities		1,178			1,898
Stock based compensation expenses		1,481			1,883
Prepaid and withholding taxes		5,702			5,662
Other temporary differences mainly relating to reserve and allowances		563			438

Deferred tax asset before valuation allowance		46,509			43,182
Valuation allowance		(41,917	)		(37,801	)
Deferred tax asset net of valuation allowance		4,592			5,381

Deferred tax liability:
Intangible assets		3,354			3,423
Operating lease right-of-use assets		1,239			1,958

Net deferred tax asset	$	-		$	-

As of December 31, 2022, the Company has provided a valuation allowance of approximately $42 million in respect of the Company’s deferred tax assets resulting from tax loss carryforwards and other temporary differences. Realization of deferred tax assets is dependent upon future earnings, if any, the time and amount of which are uncertain. As the Company has accumulated net operating losses for Israeli tax purposes as of December 31, 2022, in the amount of approximately $81,510, so it is more likely than not that sufficient taxable income will not be available for the tax losses to be utilized in the future. Therefore, a valuation allowance was recorded to reduce the deferred tax assets to nil.

Non-Israeli subsidiaries are taxed according to the tax laws in their respective countries of residence. Deferred taxes were not provided for undistributed earnings of the Company’s foreign subsidiaries. Currently, the Company does not intend to distribute any amounts of its undistributed earnings as dividends. Accordingly, no deferred income taxes have been provided in respect of these subsidiaries. If these earnings were distributed to Israel in the form of dividends or otherwise, the Company would be subject to additional Israeli income taxes (subject to an adjustment for foreign tax credits) and foreign withholding taxes.

As of December 31, 2022, $ 4,823 of undistributed earnings held by the Company’s foreign subsidiaries are designated as indefinitely reinvested. If these earnings were re-patriated to Israel, they would be subject to income taxes and to an adjustment for foreign tax credits and foreign withholding taxes in the amount of $171. The Company did not recognize deferred taxes liabilities on undistributed earnings of its foreign subsidiaries, as the Company intends to indefinitely reinvest those earnings.

As of December 31, 2022, the Company’s provision in respect of ASC 740-10 is $943. Which $100 was added in 2022.

The Company conducts business globally and, as a result, the Company or one or more of its subsidiaries file income tax returns in the U.S. federal jurisdiction and various states and foreign jurisdictions. In the normal course of business, the Company is subject to examination by taxing authorities throughout the world, including such major jurisdictions as Israel, France, Spain, Japan and the United States. With a few exceptions, the Company is no longer subject to Israeli tax assessment through the year 2017 and the Spanish and U.S. subsidiaries have final tax assessments through 2017 and 2018, respectively.

- 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.

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-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

GEOGRAPHIC INFORMATION

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

GEOGRAPHIC INFORMATION

NOTE 14: -

GEOGRAPHIC INFORMATION

Allot operates in a single reportable segment. Revenues are based on the location of the Company's channel partners which are considered as end customers, as well as direct customers of the Company:

	Year ended December 31,
	2022		2021		2020

Europe	$	41,773	$	58,414	$	94,644
Asia and Oceania		29,888		44,227		23,519
Americas		21,791		19,391		8,131
Middle East and Africa		29,285		23,568		9,628

	$	122,737	$	145,600	$	135,922

The following table sets forth the customers that represented 10% or more of the Company’s total revenues in each of the periods set forth below:

	Year ended December 31,
	2022		2021			2020

1^st Customer		-		11	%		43	%
2^nd Customer		-		-			11	%

		-		11	%		54	%

A total percentage of 77%, 72% and 83% of the Company’s revenues for the years ended December 31, 2022, 2021 and 2020, respectively are attributed to network intelligence solutions, while 23%, 28% and 17% are attributed to security solutions for the years ended December 31, 2022, 2021 and 2020, respectively.

The following presents total long-lived assets as of December 31, 2022 and 2021:

	December 31,
	2022		2021
Long-lived assets:
Israel	$	18,472	$	21,821
Other		1,151		1,692

	$	19,623	$	23,513

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

FINANCIAL INCOME (EXPENSES), NET

12 Months Ended

Dec. 31, 2022

Other Income and Expenses [Abstract]

FINANCIAL INCOME (EXPENSES), NET

NOTE 15: -

FINANCIAL INCOME (EXPENSES), NET

	Year ended December 31,
	2022		2021		2020

Financial income:
Interest income	$	1,880	$	1,045	$	1,754
Exchange rate differences and other		292		-		231

Financial expenses:
Exchange rate differences and other		-		630		-
Amortization/accretion of premium/discount on marketable securities, net		38		76		128

	$	2,134	$	339	$	1,857

RELATED PARTIES BALANCES AND TRANSACTIONS	12 Months Ended
RELATED PARTIES BALANCES AND TRANSACTIONS	Dec. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTIES BALANCES AND TRANSACTIONS	NOTE 16: - RELATED PARTIES BALANCES AND TRANSACTIONS The Company’s board approved Galil Software pursuant to which the Company acquired services amounting to approximately $894 and $993 for the years ended December 31, 2021 and 2022, respectively. As of December 31, 2021 and 2022, the Company had other payables balance due to its related party in amount of approximately $118 and $93, respectively.

CONVERTIBLE NOTES

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Convertible Notes

NOTE 17: CONVERTIBLE NOTES

On February 14, 2022, the Company issued to Lynrock Lake Master Fund LP a senior unsecured promissory note in an aggregate principal amount of $40 million (the “Note”).The Note is convertible into the company's ordinary shares atan initial conversion rate of 97.0874 ordinary shares per $1,000 of the principalamount being converted (based on an initial conversion price equal to $10.30 per ordinary share). The conversion price decreases by up to two $1 increments if the companyelects to extend the maturity of the Note by up to two successive years following the initial maturity dateof February 14, 2025.

In event of a change of control (as defined in the note), the holder of the note has the right to require the company to convert all or a portion of the note to ordinary shares or redeem all (but not less than all) of the outstanding principal amount of the note.

In the event of such a conversion or redemption in connection with a change in control, the company will also be required to pay the holder an amount in cah equal to 6% per annum on the then-outstanding principal amount of the note from the date of such conversion or redemption trough the maturity date, as it may have been extended.

The Convertible Notes consisted of the following as of December 31, 2022 :

	December 31,
	2022
Liability:
Principal	$	40,000
Unamortized issuance costs		(425	)

Net carrying amount	$	39,575

As of the issuing date, the company recordered the issuance costs related to the Note in amount of $596 as a deduction of the liability which will be amortized over 3 years with an annual effective interest rate of the net liability is 0.14%.

The company recoreder an amortization expenses related to the issuance costs in amount of $171 for 2022.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 470
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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+ Details

SUBSEQUENT EVENT	12 Months Ended
SUBSEQUENT EVENT	Dec. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENT	NOTE 18: - SUBSEQUENT EVENT On March 6, 2023 the company signed a settlement agreement with the two founders of Netonomy. According to which, the company will pay them an amount of $ 260 in exchange for the withdraw of the claim. See note 11c.

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Use of estimates

Use of estimates:

Financial statements in U.S. dollars

Financial statements in U.S. dollars:

Principles of consolidation

Principles of consolidation:

The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany balances and transactions have been eliminated upon consolidation.

Cash and cash equivalents

Cash and cash equivalents:

The Company considers all unrestricted highly liquid investments which are readily convertible into cash, with a maturity of three months or less at the date of acquisition, to be cash equivalents.

Restricted deposits

Restricted deposits:

The restricted deposits are held in favor of financial institutions in respect of fulfillment of operating obligations.

Short-term bank deposits

Short-term bank deposits:

Trade Receivable and Allowances

Trade Receivable and Allowances:

The following table displays a rollforward of the total allowance for credit losses for the years ended December 31, 2022, 2021, and 2020.

	2022			2021			2020

Total allowance for credit losses – January 1		2,398			2,309			1,867
Current-period provision for expected credit losses		823			293			1,894
Write-offs		(64	)		(9	)		(934	)
Recoveries collected		(249	)		(195	)		(518	)

Total allowance for credit losses – December 31		2,908			2,398			2,309

Marketable securities

Marketable securities:

Inventories

Inventories:

Provision for slow moving inventory as of December 31, 2022 and 2021 amounted to $ 8,862 and $ 9,103, respectively.

Inventory cost is determined using the weighted average cost method.

Property and equipment, net

Property and equipment, net:

		%

Lab equipment		16 - 25
Computers and peripheral equipment		33
Office furniture		6
SECaaS equipment*		16
Leasehold improvements		Over the shorter of the term of the lease or the useful life of the asset

*SECaaS equipment – the equipment used for SECaaS revenues

Goodwill

Goodwill:

Impairment of long-lived assets, Right-of-use assets, and intangible assets subject to amortization

Impairment of long-lived assets, Right-of-use assets, and intangible assets subject to amortization:

Revenue recognition

Revenue recognition:

The Company recognizes term-based license agreements at the point in time when control transfers and the associated maintenance revenues over the contract period.

Cost of revenues

Cost of revenues:

Cost of revenues consists primarily of costs of materials and the cost of maintenance and services, resulting from costs associated with support, customer success and professional services.

Research and development costs

Research and development costs:

Accounting Standards Codification No. 985-20, requires capitalization of certain software development costs subsequent to the establishment of technological feasibility.

Severance pay

Severance pay:

The Company's liability was partly provided by monthly deposits with severance pay funds and insurance policies and the remainder by an accrual.

Severance expense for the years ended December 31, 2022, 2021 and 2020, amounted to $ 3,516, $ 2,465 and $ 3,619, respectively.

Accounting for share-based compensation

Accounting for share-based compensation:

The Company estimated the forfeiture rate based on historical forfeitures of equity awards and adjusted the rate to reflect changes in facts and circumstances if any.

	Year ended December 31,
	2022		2021		2020

Cost of revenues	$	1,133	$	581	$	355
Research and development		3,168		2,499		1,368
Sales and marketing		2,943		3,212		2,145
General and administrative		1,921		1,708		1,330

Total share-based compensation expense	$	9,165	$	8,000	$	5,198

During 2022, 2021 and 2020 no options were granted by the Company.

The Company currently has no plans to distribute dividends and intends to retain future earnings to finance the development of its business.

The option pricing model of the of restricted share units ("RSUs") is based on the closing market value of the underlying shares at the date of grant.

Treasury share

Treasury share:

Concentration of credit risks

Concentration of credit risks:

As of 31.12.2022 we have past due of $15 million out of it approximatly $10.1 million past due receivables from two resellers in Africa and Latin America.

Government grants

Government grants:

Grants from the Israel Innovation Authority (IIA):

Grants from the Spain Tax Authorities:

Income taxes

Income taxes:

Basic and diluted net income (loss) per share

Basic and diluted net income (loss) per share:

Comprehensive loss

Comprehensive loss:

The following table shows the components and the effects on net loss of amounts reclassified from accumulated other comprehensive loss as of December 31, 2022:

	Year ended December 31, 2022
	Unrealized gain (losses) on marketable securities			Unrealized gains (losses) on cash flow hedges			Total

Balance as of December 31, 2021	$	98		$	173		$	271
Changes in other comprehensive loss before reclassifications		(140	)		(5,562	)		(5,702	)
Amounts reclassified from accumulated other comprehensive loss to:
Cost of revenues		-			791			791
Operating expenses		-			3,384			3,384
Financial income, net		2			-			2

Net current-period other comprehensive loss		(138	)		(1,387	)		(1,525	)

Balance as of December 31, 2022	$	(40	)	$	(1,214	)	$	(1,254	)

There was no income tax expense or benefit allocated to other comprehensive income, including reclassification adjustments for the year ended December 31, 2022.

Fair value of financial instruments

Fair value of financial instruments:

The Company uses a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:

Level 1 -

Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2 -


	Level 3 -	Unobservable inputs which are supported by little or no market activity.

Derivatives and hedging

Derivatives and hedging:

The Company accounts for derivatives and hedging based on Accounting Standards Codifiation No. 815, "Derivatives and Hedging" ("ASC No. 815").

Business combinations

Business combinations:

Lease

aa.

Lease:

Warranty costs

ab.

Warranty costs:

Recently Adopted Accounting Pronouncements

ac.

Recently Adopted Accounting Pronouncements:

GENERAL (Tables)

12 Months Ended

Dec. 31, 2022

Netonomy LTD [Member]

Business Acquisition [Line Items]

Schedule of pro forma revenue and net loss

	Fair value

Non-current assets	$	4
Account Payable		(11	)
Other Payables		(142	)
IPR&D		3,659
Goodwill		121

Net assets acquired	$	3,631

Keepers Child Safety Ltd [Member]

Business Acquisition [Line Items]

Schedule of the Fair Value of Assets Acquired and Liabilities Assumed

	Fair value

Technology	$	1,002
Goodwill		150

Net assets acquired	$	1,152

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of Allowance of Credit Losses

	2022			2021			2020

Total allowance for credit losses – January 1		2,398			2,309			1,867
Current-period provision for expected credit losses		823			293			1,894
Write-offs		(64	)		(9	)		(934	)
Recoveries collected		(249	)		(195	)		(518	)

Total allowance for credit losses – December 31		2,908			2,398			2,309

Schedule of Estimated Useful Lives at an Annual Rate

		%

Lab equipment		16 - 25
Computers and peripheral equipment		33
Office furniture		6
SECaaS equipment*		16
Leasehold improvements		Over the shorter of the term of the lease or the useful life of the asset

Schedule of Stock-Based Compensation Expense

	Year ended December 31,
	2022		2021		2020

Cost of revenues	$	1,133	$	581	$	355
Research and development		3,168		2,499		1,368
Sales and marketing		2,943		3,212		2,145
General and administrative		1,921		1,708		1,330

Total share-based compensation expense	$	9,165	$	8,000	$	5,198

Schedule of Accumulated Other Comprehensive Income

	Year ended December 31, 2022
	Unrealized gain (losses) on marketable securities			Unrealized gains (losses) on cash flow hedges			Total

Balance as of December 31, 2021	$	98		$	173		$	271
Changes in other comprehensive loss before reclassifications		(140	)		(5,562	)		(5,702	)
Amounts reclassified from accumulated other comprehensive loss to:
Cost of revenues		-			791			791
Operating expenses		-			3,384			3,384
Financial income, net		2			-			2

Net current-period other comprehensive loss		(138	)		(1,387	)		(1,525	)

Balance as of December 31, 2022	$	(40	)	$	(1,214	)	$	(1,254	)

AVAILABLE-FOR-SALE MARKETABLE SECURITIES (Tables)

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of summary of Available-for-Sale Marketable Securities

	December 31, 2022									December 31, 2021
	Amortized cost		Gross unrealized gain		Gross unrealized loss			Fair value		Amortized cost		Gross unrealized gain		Gross unrealized loss			Fair value

Available-for-sale - matures within one year:
Corporate debentures		4,029		-		(37	)		3,992		6,334		36		-			6,370

		4,029		-		(37	)		3,992		6,334		36		-			6,370
Available-for-sale - matures after one year through three years:
Governmental debentures		-		-		-			-		176		-		-			176
Corporate debentures		304		-		(3	)		301		4,920		67		(2	)		4,985
	$	4,333	$	-	$	(40	)	$	4,293	$	11,430	$	103	$	(2	)	$	11,531

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Financial Assets Measured at Fair Value on a Recurring Basis

	As of December 31, 2022
	Fair value measurements using input type
	Level 1		Level 2			Level 3			Total
Assets:
Available-for-sale marketable securities	$	-	$	4,293		$	-		$	4,293
Foreign currency derivative contracts		-		23			-			23

Liabilities:
Earn-out liability		-		-			(656	)		(656	)
Foreign currency derivative contracts		-		(901	)		-			(901	)

Total financial net assets	$	-	$	3,415		$	(656	)	$	2,759

	As of December 31, 2021(*)
	Fair value measurements using input type
	Level 1		Level 2			Level 3		Total

Assets:
Available-for-sale marketable securities	$	-	$	11,531		$	-	$	11,531
Foreign currency derivative contracts		-		*980			-		980

Liabilities:
Foreign currency derivative contracts		-		*(78	)		-		(78	)

Total financial net assets	$	-	$	12,433		$	-	$	12,433

(*) Reclassifed.

Schedule of Fair Value Measurements Using Significant Unobservable Inputs

Balance at January 1, 2022	$	-

Earn Out liability – Keepers		652
Earn Out liability adjustments due to exchange rates
Adjustment due to change in forecast and time value of earn-out consideration		4

Balance at December 31, 2022	$	656

DERIVATIVE INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2022

Designated as Hedging Instrument [Member]

Schedule of the Fair Value of Open Foreign Exchange Contracts

Foreign exchange forward and		December 31,
options contracts	Balance sheet	2022			2021

Fair value of foreign exchange hedge transactions	Other receivables and prepaid expenses	$	12		$	973
Fair value of foreign exchange hedge transactions	Other payables and accrued expenses		(838	)		(11	)

Total derivatives designated as hedging instruments	Other Comprehensive profit (loss)	$	(1,214	)	$	173

Not Designated as Hedging Instrument [Member]

Schedule of the Fair Value of Open Foreign Exchange Contracts

Foreign exchange forward and		December 31,
options contracts	Balance sheet	2022			2021

Fair value of foreign exchange non-designated hedge transactions	Other receivables and prepaid expenses	$	11		$	7
Fair value of foreign exchange non-designated hedge transactions	Other payables and accrued expenses		(63	)		(67	)

Total derivatives non-designated as hedging instruments		$	(52	)	$	(60	)

OTHER RECEIVABLES AND PREPAID EXPENSES (Tables)

12 Months Ended

Dec. 31, 2022

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of other accounts receivable and prepaid expense

	December 31,
	2022		2021

Prepaid expenses	$	4,560	$	4,029
Government authorities		2,108		2,947
Accrued interest		1,059		198
Foreign currency derivative contracts		23		980
Short-term lease deposits		163		185
Others		72		151

	$	7,985	$	8,490

INVENTORIES (Tables)

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Schedule of Inventory

	December 31,
	2022		2021

Raw materials	$	2,003	$	1,494
Finished goods		11,259		9,598

	$	13,262	$	11,092

PROPERTY AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

	December 31,
	2022		2021
Cost:
Lab equipment	$	19,711	$	18,871
Computers and peripheral equipment		11,856		14,316
Office furniture and equipment		1,568		1,510
Leasehold improvements		3,039		3,039
SECaaS equipment		7,722		5,886

		43,896		43,622
Accumulated depreciation:
Lab equipment		16,037		14,408
Computers and peripheral equipment		8,239		11,164
Office furniture and equipment		589		535
Leasehold improvements		1,453		1,230
SECaaS equipment		3,342		1,285

		29,660		28,622

Depreciated cost	$	14,236	$	15,000

INTANGIBLE ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

	Weighted Average Useful life		December 31,
	(Years)		2022		2021
Original Cost:

Technology		3.8-6	$	10,113	$	9,111
Backlog		2.8		1,877		1,877
Customer relationships		4.4		3,592		3,592
Software license		5		1,651		1,651
IP R&D		6		3,659		3,659

			$	20,892	$	19,890
Accumulated amortization:

Technology			$	9,117	$	9,111
Backlog				1,877		1,877
Customer relationships				3,592		3,592
Software license				660		330
IP R&D				2,135		1,525

			$	17,381	$	16,435

Amortized cost			$	3,511	$	3,455

Schedule of Estimated Amortization Expense

Year ending December 31,

2023	$	1,107
2024		1,107
2025		802
Thereafter		495

Total	$	3,511

OTHER PAYABLES AND ACCRUED EXPENSES (Tables)

12 Months Ended

Dec. 31, 2022

Payables and Accruals [Abstract]

Schedule of Other Payables and Accrued Expenses

	December 31,
	2022		2021

Accrued expenses	$	7,056	$	7,405
Deferred revenues from IIA		110		282
Government authorities		1,955		2,592
Foreign currency derivative contracts		901		78
Holdback and contingent earnout		1,216		834
Provision for returns		90		233
Others		96		190

	$	11,424	$	11,614

COMMITMENTS AND CONTINGENT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Schedule Of Weighted Average Remaining Lease Term And Discount Rate

	Year ended December 31,
	2022			2021

Weighted average remaining lease term	2.1 years			2.9 years
Weighted average discount rate		1.49	%		1.39	%

Schedule of Maturities of Operating Lease Liabilities

Year ending December 31,
2023	2,553
2024	2,090
2025	526
2026 and thereafter	21

Total lease payments	5,190

Less - imputed interest	(69	)

Present value of lease liabilities	5,121

SHAREHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2022

Stockholders' Equity Note [Abstract]

Schedule of Stock Option Activity

	Year ended December 31,
	2022					2021					2020
	Number of shares upon exercise			Weighted average exercise price		Number of shares upon exercise			Weighted average exercise price		Number of shares upon exercise			Weighted average exercise price

Outstanding at beginning of year		675,986		$	7.99		1,134,256		$	7.68		1,453,741		$	7.59
Granted		-		$	-		-		$	-		-		$	-
Forfeited		(139,494	)	$	16.08		(30,861	)	$	16.78		(28,657	)	$	17.47
Exercised		(48,653	)	$	5.01		(427,409	)	$	6.54		(290,828	)	$	6.25

Outstanding at end of year		487,839		$	5.96		675,986		$	7.99		1,134,256		$	7.68

Exercisable at end of year		487,839		$	5.96		660,986		$	8.04		1,065,498		$	7.83

Vested and expected to vest		487,839		$	5.96		675,584		$	7.99		1,132,007		$	7.68

Schedule of Stock Options Outstanding

Exercise price		Shares upon exercise of options outstanding as of December 31, 2022		Weighted average remaining contractual life		Shares upon exercise of options exercisable as of December 31, 2022
				Years

$	15.2-17.07		4,500		1.12		4,500
$	10.0 -14.68		52,750		0.78		52,750
$	5.01-9.7		73,563		2.28		73,563
$	0.1-4.95		357,026		1.23		357,026

			487,839				487,839

Summary of Restricted Stock Unit Activity

	Year ended December 31,
	2022					2021
	Number of shares upon exercise			Weighted average share price		Number of shares upon exercise			Weighted average share price

Outstanding at beginning of year		1,937,908		$	12.92		1,763,017		$	8.63
Granted		1,473,400		$	5.22		1,149,500		$	16.26
Vested		(829,910	)	$	15.82		(681,433	)	$	15.82
Forfeited		(325,778	)	$	5.78		(293,176	)	$	16.39

Unvested at end of year		2,255,620		$	8.52		1,937,908		$	12.92

TAXES ON INCOME (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Pre-tax Income (Loss)

	Year ended December 31,
	2022			2021			2020

Domestic	$	(32,826	)	$	(15,419	)	$	(8,722	)
Foreign		2,691			2,230			1,550

	$	(30,135	)	$	(13,189	)	$	(7,172	)

Schedule of the Reconciliation of the Theoretical Tax Expenses

	Year ended December 31,
	2021			2021			2020

Loss before taxes on income	$	(30,135	)	$	(13,189	)	$	(7,172	)

Theoretical tax income computed at the Israeli statutory tax rate (23% for the years 2022, 2021 and 2020, respectively)	$	(6,931	)	$	(3,034	)	$	(1,650	)

Changes in valuation allowance		4,116			2,604			1,979
Increase in losses and temporary differences due to change in Israeli corporate and “Approved Enterprise" tax		-			-			-

Write off of prepaid and withholding taxes		1,388			875			1,066
Foreign tax rates differences related to subsidiaries		46			14			35
Non-deductible expenses		512			71			72
Capital note and inter-company balances release taxes		544			100			-
Other expenses and Exchange rate differences		195			488			(383	)
Non-deductible share-based compensation expense		1,925			633			557
Change in expense associated with tax positions for current year		100			100			500

Actual tax expense	$	1,895		$	1,851		$	2,176

Schedule of Income Tax Expense

	Year ended December 31,
	2022		2021		2020

Current taxes	$	391	$	334	$	513
Deferred taxes expense		-		420		97
Taxes in respect of previous years		16		122		-
Write off of prepaid and withholding taxes		1,388		875		1,066
Change in expense associated with tax positions for current year		100		100		500

	$	1,895	$	1,851	$	2,176

	Year ended December 31,
	2022		2021		2020

Domestic	$	1,129	$	973	$	870
Foreign		766		878		1,306

Total	$	1,895	$	1,851	$	2,176

Domestic
Current taxes	$	-		$	-	$	(2	)
Taxes in respect of previous years		(20	)		37		-
Write off of prepaid and withholding taxes		1,149			936		872

Total Domestic	$	1,129		$	973	$	870

Foreign
Current taxes	$	391	$	334		$	515
Deferred taxes expense		-		420			97
Taxes in respect of previous years		36		85			-
Write off of prepaid and withholding taxes		239		(61	)		194
Change in expense associated with tax positions for current year		100		100			500

Total foreign	$	766	$	878		$	1,306
Total income tax expense (benefit)	$	1,895	$	1,851		$	2,176

Schedule of Deferred Income Taxes

	December 31,
	2022			2021
Deferred tax assets:
Operating and capital loss carryforwards	$	25,962		$	22,332
Research and development		10,260			9,161
Employee benefits		1,286			1,629
Intangible assets		77			179
Operating lease liabilities		1,178			1,898
Stock based compensation expenses		1,481			1,883
Prepaid and withholding taxes		5,702			5,662
Other temporary differences mainly relating to reserve and allowances		563			438

Deferred tax asset before valuation allowance		46,509			43,182
Valuation allowance		(41,917	)		(37,801	)
Deferred tax asset net of valuation allowance		4,592			5,381

Deferred tax liability:
Intangible assets		3,354			3,423
Operating lease right-of-use assets		1,239			1,958

Net deferred tax asset	$	-		$	-

GEOGRAPHIC INFORMATION (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Revenues by Geographic Location

	Year ended December 31,
	2022		2021		2020

Europe	$	41,773	$	58,414	$	94,644
Asia and Oceania		29,888		44,227		23,519
Americas		21,791		19,391		8,131
Middle East and Africa		29,285		23,568		9,628

	$	122,737	$	145,600	$	135,922

Schedule of Major Customers

	Year ended December 31,
	2022		2021			2020

1^st Customer		-		11	%		43	%
2^nd Customer		-		-			11	%

		-		11	%		54	%

Schedule of Long-Lived Assets by Geographic Location

	December 31,
	2022		2021
Long-lived assets:
Israel	$	18,472	$	21,821
Other		1,151		1,692

	$	19,623	$	23,513

FINANCIAL INCOME (EXPENSES), NET (Tables)

12 Months Ended

Dec. 31, 2022

Other Income and Expenses [Abstract]

Schedule of Financial Income, Net

	Year ended December 31,
	2022		2021		2020

Financial income:
Interest income	$	1,880	$	1,045	$	1,754
Exchange rate differences and other		292		-		231

Financial expenses:
Exchange rate differences and other		-		630		-
Amortization/accretion of premium/discount on marketable securities, net		38		76		128

	$	2,134	$	339	$	1,857

CONVERTIBLE NOTES (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Scheduled of convertible senior notes

	December 31,
	2022
Liability:
Principal	$	40,000
Unamortized issuance costs		(425	)

Net carrying amount	$	39,575

GENERAL (Narrative) (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended	30 Months Ended
GENERAL (Narrative) (Details) - USD ($) $ in Thousands	Jan. 14, 2018	Dec. 18, 2022	Dec. 31, 2022	Sep. 30, 2020	Dec. 31, 2021
Business Acquisition [Line Items]
Net cash acquired assets			$ 132
Acquisition costs recorded to operating expenses			49
Netonomy LTD [Member]
Business Acquisition [Line Items]
Acquisition date	Jan. 14, 2018	Dec. 18, 2022
Total consideration	$ 3,765	$ 1,152
Cash paid to acquire entity	3,180	500
Acquisition transaction costs	303
Fair value of contingent liability	282	$ 652	$ 656		$ 834
Holdback amount	$ 1,100
Description of claims for indemnification	paid in three installments consisting each one 40%, 40% and 20% of the Holdback amount following the first, second and 30-months anniversaries of the Closing Date	The contingent consideration consists of two components: (a) $1,000 paid against actual income. (b) All expected revenues exceeding $1,000 multiplied by 3.0% limited for the period of 10 years as of Valuation Date.
Amount of payments cap				$ 1,100
Restricted holdback amount	$ 797			$ 797
Total purchase consideration	$ 3,631
Keepers Child Safety Ltd [Member]
Business Acquisition [Line Items]
Total purchase consideration		$ 1,152

GENERAL (Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 18, 2022	Dec. 31, 2021	Jan. 14, 2018
Business Acquisition [Line Items]
Goodwill	$ 31,833		$ 31,683
Netonomy LTD [Member]
Business Acquisition [Line Items]
Non-current assets				$ 4
Account Payable				(11)
Other Payables				(142)
IPR&D				3,659
Goodwill				121
Net assets acquired				$ 3,631
Keepers Child Safety Ltd [Member]
Business Acquisition [Line Items]
Technology		$ 1,002
Goodwill		150
Net assets acquired		$ 1,152

SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restricted Cash and Cash Equivalents Items [Line Items]
Exchange rate financial gains and (losses) related revaluation of assets and liabilities	$ 442	$ (454)	$ 552
Short-term deposits, weighted average interest rate	4.05%	0.71%
Short-term bank deposits due to hedging transacations	$ 5,000	$ 5,000
Inventory write-offs	905	4,593	1,928
Cumulative inventory write-off	8,862	9,103
Reserve for sales returns	90	233
Severance expense	3,516	2,465	3,619
Allowance for credit losses	2,908	2,398	2,309	$ 1,867
Amount of past due receivables	15,000
Past due receivables amount over from two resellers in Africa and Latin America	10,100
Grants participations excluded from research and development costs	$ 825	167	339
Weighted average cost of debt	18.50%
ROU assets	$ 5,387	8,513
ROU lease liabilites	5,121
Remaining performance obligations as of the balance date for long- term	88,000
Amortization of deferred commission	1,863
Revenues	$ 122,737	$ 145,600	$ 135,922
Restricted Stock Units (RSUs) [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Outstanding options and warrants excluded from the calculation of diluted income per share	2,735,125	2,613,894	2,897,273
Minimum [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Annual pre-vesting forfeiture rate	0.00%	0.00%	0.00%
Remaining performance obligations as of the balance date for short-term	$ 53,000
Maximum [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Annual pre-vesting forfeiture rate	30.00%	30.00%	30.00%
Remaining performance obligations as of the balance date for long- term	$ 35,000
Grants from the Israel Innovation Authority [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Grants participations excluded from research and development costs	539	$ (42)	$ 339
Grants from the Spain Tax Authorities [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Grants participations excluded from research and development costs	$ 286	$ 209

SIGNIFICANT ACCOUNTING POLICIES (Schedule of Allowance of Credit Losses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Total allowance for credit losses – January 1	$ 2,398	$ 2,309	$ 1,867
Current-period provision for expected credit losses	823	293	1,894
Write-offs	(64)	(9)	(934)
Recoveries collected	(249)	(195)	(518)
Total allowance for credit losses - December 31	$ 2,908	$ 2,398	$ 2,309

SIGNIFICANT ACCOUNTING POLICIES (Schedule of Estimated Useful Lives at Annual Rates) (Details)

12 Months Ended

Dec. 31, 2022

Lab equipment [Member] | Minimum [Member]

Property, Plant and Equipment [Line Items]

Estimated useful lives, annual rate

16.00%

Lab equipment [Member] | Maximum [Member]

Property, Plant and Equipment [Line Items]

Estimated useful lives, annual rate

25.00%

Computers and peripheral equipment [Member]

Property, Plant and Equipment [Line Items]

Estimated useful lives, annual rate

33.00%

Office furniture [Member]

Property, Plant and Equipment [Line Items]

Estimated useful lives, annual rate

6.00%

SECaaS equipment [Member]

Property, Plant and Equipment [Line Items]

Estimated useful lives, annual rate

16.00%

^[1]

Leasehold improvements [Member]

Property, Plant and Equipment [Line Items]

Estimated useful lives

Over the shorter of the term of the lease or the useful life of the asset

[1]	SECaaS equipment – the equipment used for SECaaS revenues

SIGNIFICANT ACCOUNTING POLICIES (Schedule of Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 9,165	$ 8,000	$ 5,198
Cost of revenues [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	1,133	581	355
Research and development [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	3,168	2,499	1,368
Sales and marketing [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	2,943	3,212	2,145
General and administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 1,921	$ 1,708	$ 1,330

SIGNIFICANT ACCOUNTING POLICIES (Schedule of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 271
Changes in other comprehensive loss before reclassifications	(5,702)
Amounts reclassified from accumulated other comprehensive loss to:
Net current-period other comprehensive loss	(1,525)	$ 125	$ 671
Balance	(1,254)	271
Unrealized gains (losses) on cash flow hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	173
Changes in other comprehensive loss before reclassifications	(5,562)
Amounts reclassified from accumulated other comprehensive loss to:
Balance		173
Unrealized gain (losses) on marketable securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	98
Changes in other comprehensive loss before reclassifications	(140)
Amounts reclassified from accumulated other comprehensive loss to:
Balance		$ 98
Cost of revenues [Member]
Amounts reclassified from accumulated other comprehensive loss to:
Amounts reclassified from accumulated other comprehensive loss	791
Cost of revenues [Member] \| Unrealized gains (losses) on cash flow hedges [Member]
Amounts reclassified from accumulated other comprehensive loss to:
Amounts reclassified from accumulated other comprehensive loss	791
Cost of revenues [Member] \| Unrealized gain (losses) on marketable securities [Member]
Amounts reclassified from accumulated other comprehensive loss to:
Amounts reclassified from accumulated other comprehensive loss	0
Operating expenses [Member]
Amounts reclassified from accumulated other comprehensive loss to:
Amounts reclassified from accumulated other comprehensive loss	3,384
Operating expenses [Member] \| Unrealized gains (losses) on cash flow hedges [Member]
Amounts reclassified from accumulated other comprehensive loss to:
Amounts reclassified from accumulated other comprehensive loss	3,384
Net current-period other comprehensive loss	(1,387)
Balance	(1,214)
Operating expenses [Member] \| Unrealized gain (losses) on marketable securities [Member]
Amounts reclassified from accumulated other comprehensive loss to:
Amounts reclassified from accumulated other comprehensive loss	0
Financial income, net [Member]
Amounts reclassified from accumulated other comprehensive loss to:
Amounts reclassified from accumulated other comprehensive loss	2
Financial income, net [Member] \| Unrealized gains (losses) on cash flow hedges [Member]
Amounts reclassified from accumulated other comprehensive loss to:
Amounts reclassified from accumulated other comprehensive loss	0
Financial income, net [Member] \| Unrealized gain (losses) on marketable securities [Member]
Amounts reclassified from accumulated other comprehensive loss to:
Amounts reclassified from accumulated other comprehensive loss	2
Net current-period other comprehensive loss	(138)
Balance	$ (40)

AVAILABLE-FOR-SALE MARKETABLE SECURITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 4,333	$ 11,430
Gross unrealized gain	0	103
Gross unrealized loss	(40)	(2)
Fair value	4,293	11,531
Available-for-sale securities matures within one year [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized cost	4,029	6,334
Gross unrealized gain	0	36
Gross unrealized loss	(37)	0
Fair value	3,992	6,370
Available-for-sale securities matures within one year [Member] \| Corporate debentures [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized cost	4,029	6,334
Gross unrealized gain	0	36
Gross unrealized loss	(37)	0
Fair value	3,992	6,370
Available-for-sale securities matures after one year through three years [Member] \| Governmental debentures [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized cost	0	176
Gross unrealized gain	0	0
Gross unrealized loss	0	0
Fair value	0	176
Available-for-sale securities matures after one year through three years [Member] \| Corporate debentures [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized cost	304	4,920
Gross unrealized gain	0	67
Gross unrealized loss	(3)	(2)
Fair value	$ 301	$ 4,985

FAIR VALUE MEASUREMENTS (Schedule of Financial Assets Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets:
Available-for-sale marketable securities	$ 4,293	$ 11,531
Foreign currency derivative contracts	23	980
Liabilities:
Earn-out liability	(656)
Foreign currency derivative contracts	(901)	(78)
Total financial net assets	2,759	12,433
Level 1 [Member]
Assets:
Available-for-sale marketable securities	0	0
Foreign currency derivative contracts	0	0
Liabilities:
Earn-out liability	0
Foreign currency derivative contracts	0	0
Total financial net assets	0	0
Level 2 [Member]
Assets:
Available-for-sale marketable securities	4,293	11,531
Foreign currency derivative contracts	23	980
Liabilities:
Earn-out liability	0
Foreign currency derivative contracts	(901)	(78)
Total financial net assets	3,415	12,433
Level 3 [Member]
Assets:
Available-for-sale marketable securities	0	0
Foreign currency derivative contracts	0	0
Liabilities:
Earn-out liability	(656)
Foreign currency derivative contracts	0	0
Total financial net assets	$ (656)	$ 0

FAIR VALUE MEASUREMENTS (Schedule of fair value measurements using significant unobservable inputs ) (Details) - Level 3 [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Defined Benefit Plan, Plan Assets, Level 3 Reconciliation [Line Items]
Balance at	$ 0
Earn Out liability – Keepers	652
Earn Out liability adjustments due to exchange rates Adjustment due to change in forecast and time value of earn-out consideration	4
Balance at	$ 656

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

DERIVATIVE INSTRUMENTS (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Net losses recognized from currency transactions	$ 1,520	$ 1,272	$ 1,200
Unrealized gain (loss) on forward contracts, net	(1,214)	173
Outstanding hedge transactions	33,711	62,439
Gain or loss on the derivative instruments of other comprehensive loss to cost of revenues	(503)	70
Gain (loss) on derivative instruments reclassified from OCI to operating expenses	(3,674)	700
Non-designated hedge transactions	$ 11,944	$ 22,275

DERIVATIVE INSTRUMENTS (Schedule of the Fair Value Open Foreign Exchange Contracts) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of foreign exchange hedge transactions	$ 12	$ 973
Fair value of foreign exchange hedge transactions	(838)	(11)
Total derivatives designated as hedging instruments	$ (1,214)	$ 173

DERIVATIVE INSTRUMENTS (Schedule of the Fair value of the outstanding non-designated foreign exchange contracts) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments Schedule Of Fair Value Of Outstanding Non Designated Foreign Exchange Contracts
Fair value of foreign exchange non-designated hedge transactions	$ 11	$ 7
Fair value of foreign exchange non-designated hedge transactions	(63)	(67)
Total derivatives non-designated as hedging instruments	$ (52)	$ (60)

OTHER RECEIVABLES AND PREPAID EXPENSES (Schedule of Other Accounts Receivable and Prepaid Expenses) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses	$ 4,560	$ 4,029
Government authorities	2,108	2,947
Accrued interest	1,059	198
Foreign currency derivative contracts	23	980
Short-term lease deposits	163	185
Others	72	151
Other receivables and prepaid expenses	$ 7,985	$ 8,490

INVENTORIES (Details) - USD ($) $ in Thousands	12 Months Ended
INVENTORIES (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 2,003	$ 1,494
Finished goods	11,259	9,598
Total inventory	13,262	11,092
Cost of goods sold, deferred finished goods inventory	$ 1,729	$ 413

PROPERTY AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Cost	$ 43,896	$ 43,622
Accumulated depreciation	29,660	28,622
Deprecated cost	14,236	15,000
Depreciation	6,406	4,635	$ 3,704
Lab equipment [Member]
Property, Plant and Equipment [Line Items]
Cost	19,711	18,871
Accumulated depreciation	16,037	14,408
Computers and peripheral equipment [Member]
Property, Plant and Equipment [Line Items]
Cost	11,856	14,316
Accumulated depreciation	8,239	11,164
Office furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Cost	1,568	1,510
Accumulated depreciation	589	535
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Cost	3,039	3,039
Accumulated depreciation	1,453	1,230
Security As Service [Member]
Property, Plant and Equipment [Line Items]
Cost	7,722	5,886
Accumulated depreciation	$ 3,342	$ 1,285

INTANGIBLE ASSETS, NET (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 946	$ 940	$ 610

INTANGIBLE ASSETS, NET (Schedule of Intangible Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Cost	$ 20,892	$ 19,890
Accumulated amortization	17,381	16,435
Total	$ 3,511	3,455
Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful life (Years)	3 years 9 months 18 days
Cost	$ 10,113	9,111
Accumulated amortization	$ 9,117	9,111
Technology Two [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful life (Years)	6 years
Backlog [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful life (Years)	2 years 9 months 18 days
Cost	$ 1,877	1,877
Accumulated amortization	$ 1,877	1,877
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful life (Years)	4 years 4 months 24 days
Cost	$ 3,592	3,592
Accumulated amortization	$ 3,592	3,592
Software license [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful life (Years)	5 years
Cost	$ 1,651	1,651
Accumulated amortization	$ 660	330
IP R&D [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful life (Years)	6 years
Cost	$ 3,659	3,659
Accumulated amortization	$ 2,135	$ 1,525

INTANGIBLE ASSETS, NET (Schedule of Estimated Amortization Expense) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 1,107
2023	1,107
2024	802
Thereafter	495
Total	$ 3,511	$ 3,455

OTHER PAYABLES AND ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
OTHER PAYABLES AND ACCRUED EXPENSES [Abstract]
Accrued expenses	$ 7,056	$ 7,405
Deferred revenues from IIA	110	282
Government authorities	1,955	2,592
Foreign currency derivative contracts	901	78
Holdback and contingent earnout	1,216	834
Provision for returns	90	233
Others	96	190
Total other payables and accrued expenses	$ 11,424	$ 11,614

COMMITMENTS AND CONTINGENT LIABILITIES (Narrative) (Details) $ in Thousands, ₪ in Millions		12 Months Ended
	Nov. 02, 2021 ILS (₪)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Rent expense		$ 3,784	$ 3,141	$ 3,282
Short-term lease expense		82
Bank guarantees		576
Short-term maturities of operating lease liabilities		126
Guarantees in favor of lease		411
Damages claimed by Netonomy Ltd \| ₪	₪ 2.6
Operating Lease, Payments		$ 2,843	$ 3,253	$ 3,812

COMMITMENTS AND CONTINGENT LIABILITIES (Schedule of Weighted-Average Remaining Lease Term and Discount Rate) (Details)	Dec. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Weighted-average remaining lease term	2 years 1 month 6 days	2 years 10 months 24 days
Weighted-average discount rate	1.49%	1.39%

COMMITMENTS AND CONTINGENT LIABILITIES (Schedule of Maturities of Operating Lease Liabilities) (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2023	$ 2,553
2024	2,090
2025	526
2026 and thereafter	21
Total lease payments	5,190
Less - imputed interest	(69)
Present value of lease liabilities	$ 5,121

SHAREHOLDERS' EQUITY (Narrative) (Details) ₪ / shares in Units, ₪ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($)	Dec. 31, 2022 ILS (₪) ₪ / shares shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 ₪ / shares	Dec. 31, 2021 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share capital, amount authorized \| ₪				₪ 20,000,000
Common Stock, Shares Authorized \| shares				200,000,000	200,000,000		200,000,000
Common Stock, Par or Stated Value Per Share \| ₪ / shares				₪ 0.1		₪ 0.1
Intrinsic value of options outstanding \| $			$ 4,578		$ 10		$ 3,481
Intrinsic value of options exercisable \| $			4,226		10		3,392
Intrinsic value of options vested and expected to vest \| $			4,568		$ 10		$ 3,479
Intrinsic value of options exercised \| $	$ 93	$ 4,113	$ 1,437
Stock options vested during period \| shares	15,000
Weighted average remaining contractual life of options outstanding	1 year 4 months 2 days
Weighted-average remaining contractual life of exercisable options	1 year 4 months 2 days
Stock Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, recognition period	1 year 11 months 15 days
Shares available for future issuance \| shares				193,679	193,679
Vesting period for plan	4 years
Options, expiration period	10 years
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested stock options \| $					$ 12,648,859
Unrecognized compensation cost, recognition period	1 year 11 months 15 days
Granted \| shares	1,473,400	1,149,500
Restricted Stock Units (RSUs) [Member] \| 2006 option plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for plan	4 years
Restricted Stock Units (RSUs) [Member] \| 2016 option plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted \| shares	1,473,400	1,149,500

SHAREHOLDERS' EQUITY (Schedule of Stock Option Activity) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Number of shares upon exercise
Outstanding at beginning of year	675,986	1,134,256	1,453,741
Granted	0	0	0
Forfeited	(139,494)	(30,861)	(28,657)
Exercised	(48,653)	(427,409)	(290,828)
Outstanding at end of year	487,839	675,986	1,134,256
Exercisable at end of year	487,839	660,986	1,065,498
Vested and expected to vest	487,839	675,584	1,132,007
Weighted average exercise price
Outstanding at beginning of year	$ 7.99	$ 7.68	$ 7.59
Granted	0	0	0
Forfeited	16.08	16.78	17.47
Exercised	5.01	6.54	6.25
Outstanding at end of year	5.96	7.99	7.68
Exercisable at end of year	5.96	8.04	7.83
Vested and expected to vest	$ 5.96	$ 7.99	$ 7.68

SHAREHOLDERS' EQUITY (Schedule of Options Outstanding) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Shares upon exercise of options outstanding as of December 31, 2019	487,839	675,986	1,134,256	1,453,741
Weighted average remaining contractual life	1 year 4 months 2 days
Shares upon exercise of options exercisable as of December 31, 2019	487,839	660,986	1,065,498
$15.2-17.07 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Prices, minimum	$ 15.2
Exercise Prices, maximum	$ 17.07
Shares upon exercise of options outstanding as of December 31, 2019	4,500
Weighted average remaining contractual life	1 year 1 month 13 days
Shares upon exercise of options exercisable as of December 31, 2019	4,500
$ 10.0 -14.84 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Prices, minimum	$ 10
Exercise Prices, maximum	$ 14.68
Shares upon exercise of options outstanding as of December 31, 2019	52,750
Weighted average remaining contractual life	9 months 10 days
Shares upon exercise of options exercisable as of December 31, 2019	52,750
$5.01-9.7 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Prices, minimum	$ 5.01
Exercise Prices, maximum	$ 9.7
Shares upon exercise of options outstanding as of December 31, 2019	73,563
Weighted average remaining contractual life	2 years 3 months 10 days
Shares upon exercise of options exercisable as of December 31, 2019	73,563
$0.1-4.95 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Prices, minimum	$ 0.1
Exercise Prices, maximum	$ 4.95
Shares upon exercise of options outstanding as of December 31, 2019	357,026
Weighted average remaining contractual life	1 year 2 months 23 days
Shares upon exercise of options exercisable as of December 31, 2019	357,026

SHAREHOLDERS' EQUITY (Summary of Restricted Stock Unit Activity) (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Number of shares upon exercise
Outstanding at beginning of year	1,937,908	1,763,017
Granted	1,473,400	1,149,500
Vested	(829,910)	(681,433)
Forfeited	(325,778)	(293,176)
Unvested at end of year	2,255,620	1,937,908
Weighted average share price
Outstanding at beginning of year	$ 12.92	$ 8.63
Granted	5.22	16.26
Vested	15.82	15.82
Forfeited	5.78	16.39
Unvested at end of year	$ 8.52	$ 12.92

TAXES ON INCOME (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2016
Taxes On Income [Line Items]
Revenues		$ 122,737	$ 145,600	$ 135,922
Israeli Income tax rate		23.00%	23.00%	23.00%
Tax-exempt period		2 years
Tax benefits description		The period of tax benefits, detailed above, is limited to the earlier of 12 years from the commencement of production, or 14 years from the approval date.
Dividend, withholding tax rate		15.00%
Patent use right, period		8 years
Expense deductible period		3 years
Net operating loss carry forwards		$ 81,510
Capital loss carry forwards		27,191
Undistributed earnings held by foreign subsidiaries		4,823
Amounts added to provision for ASC 740-10 during year		100
Foreign tax credits and foreign withholding taxes		171
Deferred tax assets valuation allowance		41,917	$ 37,801
Deferred Tax Asset, Tax Deferred Expense, Reserve and Accrual, Financing Receivable, Allowance for Credit Loss		$ 943
Israeli resident corporation [Member]
Taxes On Income [Line Items]
Dividend, withholding tax rate		0.00%	0.00%	0.00%
Israeli resident individual [Member]
Taxes On Income [Line Items]
Dividend, withholding tax rate		20.00%	20.00%	20.00%
non-Israeli resident [Member]
Taxes On Income [Line Items]
Dividend, withholding tax rate		20.00%	20.00%	20.00%
Minimum [Member]
Taxes On Income [Line Items]
Change in corporate tax rate		10.00%
Tax-exempt period		5 years
Maximum [Member]
Taxes On Income [Line Items]
Change in corporate tax rate		25.00%
Tax-exempt period		8 years
Preferred Enterprise [Member]
Taxes On Income [Line Items]
Revenues	$ 10,000,000
Israeli Income tax rate	12.00%
Special Technological Preferred Enterprise [Member]
Taxes On Income [Line Items]
Revenues	$ 10,000,000
Israeli Income tax rate	6.00%
Israel [Member]
Taxes On Income [Line Items]
Write-off prepaid and withholding taxes		$ 5,703
United States of America [Member] \| Minimum [Member]
Taxes On Income [Line Items]
Net operating loss carry forwards		$ 2,429
Expiration of operating loss carry forward		Dec. 31, 2026
United States of America [Member] \| Maximum [Member]
Taxes On Income [Line Items]
Net operating loss carry forwards		$ 5,439
Expiration of operating loss carry forward		Dec. 31, 2037
Development Zone A [Member]
Taxes On Income [Line Items]
Israeli Income tax rate		7.50%			7.50%
Outside Development Zone [Member]
Taxes On Income [Line Items]
Israeli Income tax rate		16.00%			16.00%

TAXES ON INCOME (Schedule of Pre-tax Income (Loss)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Domestic	$ (32,826)	$ (15,419)	$ (8,722)
Foreign	2,691	2,230	1,550
Pre-tax income (loss)	$ (30,135)	$ (13,189)	$ (7,172)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

TAXES ON INCOME (Schedule of the Reconciliation of the Theoretical Tax Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Loss before taxes on income	$ (30,135)	$ (13,189)	$ (7,172)
Theoretical tax income computed at the Israeli statutory tax rate (23% for the years 2021, 2020 and 2019, respectively)	(6,931)	(3,034)	(1,650)
Changes in valuation allowance	4,116	2,604	1,979
Increase in losses and temporary differences due to change in Israeli corporate and “Approved Enterprise" tax	0	0	0
Write off of prepaid and withholding taxes	1,388	875	1,066
Foreign tax rates differences related to subsidiaries	46	14	35
Non-deductible expenses	512	71	72
Capital note release taxes	544	100	0
Other expenses and Exchange rate differences	195	488	(383)
Non-deductible share-based compensation expense	1,925	633	557
Change in expense associated with tax positions for current year	100	100	500
Income tax expense	$ 1,895	$ 1,851	$ 2,176

TAXES ON INCOME (Schedule of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Current taxes	$ 391	$ 334	$ 513
Deferred taxes expense	0	420	97
Taxes in respect of previous years	16	122	0
Write off of prepaid and withholding taxes	1,388	875	1,066
Change in expense associated with tax positions for current year	100	100	500
Income Tax Expense (Benefit)	$ 1,895	$ 1,851	$ 2,176

- Definition

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

+ References + Details

TAXES ON INCOME (Schedule of Income Tax Expense (Benefit) by jurisdiction) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Domestic	$ 1,129	$ 973	$ 870
Foreign	766	878	1,306
Total	1,895	1,851	2,176
Domestic
Current taxes	0	0	(2)
Taxes in respect of previous years	(20)	37	0
Write off of prepaid and withholding taxes	1,149	936	872
Total Domestic	1,129	973	870
Foreign
Current taxes	391	334	515
Deferred taxes expense	0	420	97
Taxes in respect of previous years	36	85	0
Write off of prepaid and withholding taxes	239	(61)	194
Change in expense associated with tax positions for current year	100	100	500
Total foreign	766	878	1,306
Total income tax expense (benefit)	$ 1,895	$ 1,851	$ 2,176

TAXES ON INCOME (Schedule of Deferred Income Taxes) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Operating and capital loss carryforwards	$ 25,962	$ 22,332
Research and development	10,260	9,161
Employee benefits	1,286	1,629
Intangible assets	77	179
Operating lease liabilities	1,178	1,898
Stock based compensation expenses	1,481	1,883
Prepaid and withholding taxes	5,702	5,662
Other temporary differences mainly relating to reserve and allowances	563	438
Deferred tax asset before valuation allowance	46,509	43,182
Valuation allowance	(41,917)	(37,801)
Deferred tax asset net of valuation allowance	4,592	5,381
Deferred tax liability:
Intangible assets	3,354	3,423
Other temporary differences mainly relating to reserve and allowances	1,239	1,958
Net deferred tax asset	$ 0	$ 0

GEOGRAPHIC INFORMATION (Schedule of Revenue by Geographic Location) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 122,737	$ 145,600	$ 135,922
Europe [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	41,773	58,414	94,644
Asia And Oceania [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	29,888	44,227	23,519
Americas [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	21,791	19,391	8,131
Middle East And Africa [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 29,285	$ 23,568	$ 9,628

- 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).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 22
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+ Details

GEOGRAPHIC INFORMATION (Schedule of Major Customers) (Details) - Sales [Member] - Customer Concentration Risk [Member]	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue, Major Customer [Line Items]
Concentration risk, threshold percentage	0.00%	11.00%	54.00%
Network intelligence solutions [Member]
Revenue, Major Customer [Line Items]
Concentration risk percentage	77.00%	72.00%	83.00%
Security Solutions [Member]
Revenue, Major Customer [Line Items]
Concentration risk percentage	23.00%	28.00%	17.00%
Customer A [Member]
Revenue, Major Customer [Line Items]
Concentration risk percentage	0.00%	11.00%	43.00%
Customer B [Member]
Revenue, Major Customer [Line Items]
Concentration risk percentage	0.00%	0.00%	11.00%

GEOGRAPHIC INFORMATION (Schedule of Long-Lived Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting, Asset Reconciling Item [Line Items]
Long-lived assets	$ 19,623	$ 23,513
Israel [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Long-lived assets	18,472	21,821
Other [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Long-lived assets	$ 1,151	$ 1,692

FINANCIAL INCOME (EXPENSES), NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financial income:
Interest income	$ 1,880	$ 1,045	$ 1,754
Exchange rate differences and other	292	0	231
Financial expenses:
Exchange rate differences and other	0	630	0
Amortization/accretion of premium/discount on marketable securities, net	38	76	128
Financial and other expenses, total	$ 2,134	$ 339	$ 1,857

RELATED PARTIES BALANCES AND TRANSACTIONS (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Other payables balance due to related party	$ 93	$ 118
Galil Software [Member]
Related Party Transaction [Line Items]
Payments to related party for services	$ 993	$ 894

- Definition

Carrying amount as of the balance sheet date of obligations due all related parties.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
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-Paragraph 1
-Subparagraph (SX 210.4-08(k)(1))
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-Publisher FASB
-Name Accounting Standards Codification
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-Section S99
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-Subparagraph (SX 210.13-02(a)(4)(iii)(C))
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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-Section S99
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-Subparagraph (SX 210.13-02(a)(5))
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-Publisher FASB
-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1
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-URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

+ Details

CONVERTIBLE NOTES (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 14, 2022	Dec. 31, 2022
Debt Instrument [Line Items]
Change of control conversion description		conversion or redemption in connection with a change in control, the company will also be required to pay the holder an amount in cah equal to 6% per annum on the then-outstanding principal amount of the note from the date of such conversion or redemption trough the maturity date
Convertible Notes
Debt Instrument [Line Items]
Principal amount		$ 40,000
Term of debt issuance costs amortization		3 years
Total Issuance Costs		$ 596
Debt interest rate		0.14%
Amortization of debt issuance costs		$ 171
Convertible Notes \| Lynrock Lake Master Fund LP [Member]
Debt Instrument [Line Items]
Principal amount	$ 40,000
Maturity date	Feb. 14, 2025
conversion price decreases by	up to two $1 increments if the companyelects to extend the maturity of the Note by up to two successive years
Conversion rate description	The Note is convertible into the company's ordinary shares atan initial conversion rate of 97.0874 ordinary shares per $1,000 of the principalamount being converted (based on an initial conversion price equal to $10.30 per ordinary share).

CONVERTIBLE NOTES (Details) - Convertible Senior Notes $ in Thousands	Dec. 31, 2022 USD ($)
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net [Abstract]
Principle	$ 40,000
Unamortized issuance costs	(425)
Net carrying amount	$ 39,575

SUBSEQUENT EVENT (Narrative Detail) (Narrative) (Details)	Mar. 06, 2023
Subsequent Event [Member]
Subsequent Event [Line Items]
Loss Contingency, Damages Sought	260