Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2021 | Aug. 02, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000915778 | |
Entity Registrant Name | DSP GROUP INC /DE/ | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 1-35256 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 94-2683643 | |
Entity Address, Address Line One | 2055 Gateway Place, Suite 480 | |
Entity Address, City or Town | San Jose | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 95110 | |
City Area Code | 408 | |
Local Phone Number | 986-4300 | |
Title of 12(b) Security | Common Stock, $.001 per share | |
Trading Symbol | DSPG | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 24,458,457 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 16,175 | $ 16,936 |
Restricted deposit | 574 | 548 |
Marketable securities and short-term deposits | 48,681 | 50,615 |
Trade receivables | 13,502 | 11,003 |
Other accounts receivable and prepaid expenses | 5,111 | 3,460 |
Inventories | 6,384 | 9,061 |
TOTAL CURRENT ASSETS | 90,427 | 91,623 |
PROPERTY AND EQUIPMENT, NET | 6,501 | 6,574 |
NON-CURRENT ASSETS: | ||
Long-term marketable securities | 64,507 | 60,454 |
Operating lease right of use | 10,386 | 11,102 |
Long-term prepaid expenses and lease deposits | 2,470 | 2,888 |
Deferred income taxes | 6,410 | 6,893 |
Severance pay fund | 15,331 | 16,285 |
Intangible assets, net | 6,527 | 7,549 |
Goodwill | 13,105 | 13,105 |
TOTAL NON-CURRENT ASSETS | 118,736 | 118,276 |
TOTAL ASSETS | 215,664 | 216,473 |
CURRENT LIABILITIES: | ||
Trade payables | 11,197 | 10,708 |
Operating lease liability | 2,874 | 2,974 |
Accrued compensation and benefits | 9,661 | 8,728 |
Income tax accruals and payables | 3,454 | 3,620 |
Accrued expenses and other accounts payable | 3,250 | 2,993 |
Short-term bank loans | 0 | 211 |
Deferred income | 169 | 172 |
TOTAL CURRENT LIABILITIES | 30,605 | 29,406 |
NON-CURRENT LIABILITIES: | ||
Deferred income taxes | 948 | 1,073 |
Accrued severance pay | 15,797 | 16,647 |
Total long-term lease liabilities | 9,182 | 10,075 |
Earn-out liability | 1,945 | 1,945 |
Accrued pensions | 1,058 | 1,089 |
TOTAL NON-CURRENT LIABILITIES | 28,930 | 30,829 |
STOCKHOLDERS’ EQUITY: | ||
Common stock, $ 0.001 par value - Authorized shares: 50,000,000 shares at June 30, 2021 (unaudited) and December 31, 2020; Issued and outstanding shares: 23,974,936 and 23,709,924 shares at June 30, 2021 (unaudited) and December 31, 2020, respectively | 24 | 24 |
Additional paid-in capital | 401,921 | 396,335 |
Treasury stock at cost | (107,717) | (108,509) |
Accumulated other comprehensive loss | (970) | (637) |
Accumulated deficit | (137,129) | (130,975) |
TOTAL STOCKHOLDERS’ EQUITY | 156,129 | 156,238 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 215,664 | $ 216,473 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2021 | Dec. 31, 2020 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, issued (in shares) | 23,974,936 | 23,709,924 |
Common stock, outstanding (in shares) | 23,974,936 | 23,709,924 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Revenues | $ 35,807 | $ 28,336 | $ 68,454 | $ 56,575 | |
Cost of revenues (1) | [1] | 16,676 | 14,075 | 32,342 | 27,934 |
Gross profit | 19,131 | 14,261 | 36,112 | 28,641 | |
Operating expenses: | |||||
Research and development, net (2) | [2] | 10,630 | 8,455 | 21,110 | 18,809 |
Sales and marketing (3) | [3] | 5,326 | 4,435 | 10,528 | 9,446 |
General and administrative (4) | [4] | 3,161 | 2,627 | 5,814 | 4,975 |
Intangible assets amortization | 429 | 104 | 848 | 208 | |
Total operating expenses | 19,546 | 15,621 | 38,300 | 33,438 | |
Operating loss | (415) | (1,360) | (2,188) | (4,797) | |
Financial income, net | 94 | 289 | 735 | 1,192 | |
Loss before taxes on income | (321) | (1,071) | (1,453) | (3,605) | |
Tax on income (tax benefit) | 78 | 6 | 289 | (62) | |
Net loss | $ (399) | $ (1,077) | $ (1,742) | $ (3,543) | |
Net loss per share: | |||||
Basic and Diluted (in dollars per share) | $ (0.02) | $ (0.05) | $ (0.07) | $ (0.15) | |
Weighted average number of shares used in per share computations of net loss: | |||||
Basic and Diluted (in shares) | 24,204 | 23,301 | 24,131 | 23,321 | |
[1] | Includes equity-based compensation expense in the amount of $185 and $129 for the three months ended June 30, 2021 and 2020, and $346 and $249 for the six months ended June 30, 2021 and 2020, respectively. | ||||
[2] | Includes equity-based compensation expense in the amount of $1,305 and $826 for the three months ended June 30, 2021 and 2020, respectively; and $2,447 and $1,577 for the six months ended June 30, 2021 and 2020, respectively. | ||||
[3] | Includes equity-based compensation expense in the amount of $745 and $620 for the three months ended June 30, 2021 and 2020, respectively; and $1,371 and $1,175 for the six months ended June 30, 2021 and 2020, respectively. | ||||
[4] | Includes equity-based compensation expense in the amount of $770 and $706 for the three months ended June 30, 2021 and 2020, respectively; and $1,371 and $1,112 for the six months ended June 30, 2021 and 2020, respectively. |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Operations (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Equity-based compensation expense included in cost of revenues | $ 185 | $ 129 | $ 346 | $ 249 |
Equity-based compensation expenses included in research and development, net | 1,305 | 826 | 2,447 | 1,577 |
Equity-based compensation expense included in sales and marketing | 745 | 620 | 1,371 | 1,175 |
Equity-based compensation expense included in general and administrative | $ 770 | $ 706 | $ 1,371 | $ 1,112 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Net loss | $ (399) | $ (1,077) | $ (1,742) | $ (3,543) |
Available-for-sale securities: | ||||
Changes in unrealized gains (losses) | (54) | 630 | (356) | 382 |
Reclassification adjustments for gains included in net loss | 0 | (4) | 8 | (12) |
Net change | (54) | 626 | (348) | 370 |
Cash flow hedges: | ||||
Changes in unrealized gains | 20 | 17 | 31 | 52 |
Reclassification adjustments for gains included in net loss | (26) | (52) | (31) | (52) |
Net change | (6) | (35) | 0 | 0 |
Change in unrealized components of defined benefit plans: | ||||
Amortization of actuarial loss and prior service benefit | 6 | 6 | 12 | 12 |
Net change | 6 | 6 | 12 | 12 |
Foreign currency translation adjustments, net | (30) | (27) | 3 | (47) |
Other comprehensive income (loss) | (84) | 570 | (333) | 335 |
Comprehensive (loss) | (483) | (507) | (2,075) | (3,208) |
Net loss | $ (399) | $ (1,077) | $ (1,742) | $ (3,543) |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Cash flows from operating activities: | ||
Net loss | $ (1,742) | $ (3,543) |
Adjustments required to reconcile net loss to net cash provided by operating activities: | ||
Depreciation | 821 | 801 |
Equity-based compensation expenses related to employees’ stock options, SARs and RSUs | 5,535 | 4,113 |
Realized losses (gains) from sale of marketable securities, net | 8 | (12) |
Capital loss (gain) from sale and disposal of property and equipment | 1 | (44) |
Amortization of intangible assets | 848 | 208 |
Operating lease amortization expenses | 1,256 | 1,228 |
Change in operating lease liability | (1,533) | (1,393) |
Accrued interest and amortization of premium on marketable securities and deposits | 599 | 170 |
Change in operating assets and liabilities: | ||
Deferred income tax assets and liabilities, net | 351 | (268) |
Trade receivables, net | (2,526) | 4,812 |
Other accounts receivable and prepaid expenses | (1,658) | (277) |
Inventories | 2,677 | (660) |
Long-term prepaid expenses and lease deposits | 418 | (142) |
Trade payables | 491 | 616 |
Accrued compensation and benefits | 1,903 | 1,434 |
Income tax accruals | (126) | 378 |
Accrued expenses and other accounts payable | 138 | 1,243 |
Accrued severance pay, net | 100 | 180 |
Accrued pensions | 20 | 19 |
Net cash provided by operating activities | 7,581 | 8,863 |
Cash flows from investing activities: | ||
Purchase of marketable securities | (20,183) | (43,587) |
Purchase of short-term deposits | (8,000) | (5,000) |
Proceeds from maturity of marketable securities | 15,423 | 39,439 |
Proceeds from sales of marketable securities | 4,692 | 9,558 |
Proceeds from redemption of short-term deposits | 5,000 | 3,000 |
Proceeds from sale of fixed assets | 12 | 44 |
Purchases of property and equipment | (767) | (577) |
Decrease in restricted deposits | (34) | 17 |
Other investing activities | 172 | 0 |
Net cash provided by (used in) investing activities | (3,685) | 2,894 |
Issuance of common stock and treasury stock upon exercise of stock options | 774 | 1,477 |
Repayment of a short – term bank loan | (211) | 0 |
Purchase of treasury stock | (5,182) | (3,736) |
Net cash (used in) financing activities | (4,619) | (2,259) |
Increase (decrease) in cash and cash equivalents | (723) | 9,498 |
Cash and cash equivalents at the beginning of the year | 16,936 | 28,737 |
Erosion due to exchange rate differences | (38) | (37) |
Cash and cash equivalents at the end of the year | $ 16,175 | $ 38,198 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Common Stock Outstanding [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2019 | 23,111 | |||||
Balance at Dec. 31, 2019 | $ 23 | $ 386,534 | $ (113,862) | $ (118,712) | $ (889) | $ 153,094 |
Net loss | 0 | 0 | 0 | (3,543) | 0 | (3,543) |
Change in accumulated other comprehensive income (loss) | $ 0 | 0 | 0 | 0 | 335 | $ 335 |
Purchase of treasury stock (in shares) | (305) | (305) | ||||
Purchase of treasury stock | 0 | (3,736) | 0 | 0 | $ (3,736) | |
Issuance of treasury stock upon exercise of stock options, stock appreciation rights and vesting of restricted stock units by employees and directors (in shares) | 499 | |||||
Issuance of treasury stock upon exercise of stock options, stock appreciation rights and vesting of restricted stock units by employees and directors | 87 | 5,014 | (3,624) | 0 | 1,477 | |
Equity-based compensation | $ 0 | 4,113 | 0 | 0 | 0 | 4,113 |
Issuance of treasury stock upon purchase of common stock under employee stock purchase plan (in shares) | 105 | |||||
Issuance of treasury stock upon purchase of common stock under employee stock purchase plan | 0 | 1,052 | (30) | 0 | 1,022 | |
Issuance of treasury stock upon purchase of common stock under employee stock purchase plan (in shares) | 105 | |||||
Issuance of treasury stock upon purchase of common stock under employee stock purchase plan | 0 | 1,052 | (30) | 0 | 1,022 | |
Balance (in shares) at Jun. 30, 2020 | 23,410 | |||||
Balance at Jun. 30, 2020 | $ 23 | 390,734 | (111,532) | (125,909) | (554) | 152,762 |
Balance (in shares) at Mar. 31, 2020 | 23,205 | |||||
Balance at Mar. 31, 2020 | $ 23 | 388,387 | (113,532) | (123,775) | (1,124) | 149,979 |
Net loss | 0 | 0 | 0 | (1,077) | 0 | (1,077) |
Change in accumulated other comprehensive income (loss) | $ 0 | 0 | 0 | 0 | 570 | 570 |
Purchase of treasury stock (in shares) | (22) | |||||
Purchase of treasury stock | 0 | (294) | 0 | 0 | (294) | |
Issuance of treasury stock upon exercise of stock options, stock appreciation rights and vesting of restricted stock units by employees and directors (in shares) | 227 | |||||
Issuance of treasury stock upon exercise of stock options, stock appreciation rights and vesting of restricted stock units by employees and directors | 66 | 2,294 | (1,057) | 0 | 1,303 | |
Equity-based compensation | $ 0 | 2,281 | 0 | 0 | 0 | 2,281 |
Balance (in shares) at Jun. 30, 2020 | 23,410 | |||||
Balance at Jun. 30, 2020 | $ 23 | 390,734 | (111,532) | (125,909) | (554) | 152,762 |
Balance (in shares) at Dec. 31, 2020 | 23,710 | |||||
Balance at Dec. 31, 2020 | $ 24 | 396,335 | (108,509) | (130,975) | (637) | 156,238 |
Net loss | 0 | 0 | 0 | (1,742) | 0 | (1,742) |
Change in accumulated other comprehensive income (loss) | $ 0 | 0 | 0 | 0 | (333) | $ (333) |
Purchase of treasury stock (in shares) | (339) | (339) | ||||
Purchase of treasury stock | 0 | (5,299) | 0 | 0 | $ (5,299) | |
Issuance of treasury stock upon exercise of stock options, stock appreciation rights and vesting of restricted stock units by employees and directors (in shares) | 509 | |||||
Issuance of treasury stock upon exercise of stock options, stock appreciation rights and vesting of restricted stock units by employees and directors | 51 | 5,130 | (4,407) | 0 | 774 | |
Equity-based compensation | $ 0 | 5,535 | 0 | 0 | 0 | 5,535 |
Issuance of treasury stock upon purchase of common stock under employee stock purchase plan (in shares) | 95 | |||||
Issuance of treasury stock upon purchase of common stock under employee stock purchase plan | 0 | 961 | (5) | 0 | 956 | |
Issuance of treasury stock upon purchase of common stock under employee stock purchase plan (in shares) | 95 | |||||
Issuance of treasury stock upon purchase of common stock under employee stock purchase plan | 0 | 961 | (5) | 0 | 956 | |
Balance (in shares) at Jun. 30, 2021 | 23,975 | |||||
Balance at Jun. 30, 2021 | $ 24 | 401,921 | (107,717) | (137,129) | (970) | 156,129 |
Balance (in shares) at Mar. 31, 2021 | 24,227 | |||||
Balance at Mar. 31, 2021 | $ 24 | 398,916 | (103,300) | (135,848) | (886) | 158,906 |
Net loss | 0 | 0 | 0 | (399) | 0 | (399) |
Change in accumulated other comprehensive income (loss) | $ 0 | 0 | 0 | 0 | (84) | (84) |
Purchase of treasury stock (in shares) | (339) | |||||
Purchase of treasury stock | 0 | (5,299) | 0 | 0 | (5,299) | |
Issuance of treasury stock upon exercise of stock options, stock appreciation rights and vesting of restricted stock units by employees and directors (in shares) | 87 | |||||
Issuance of treasury stock upon exercise of stock options, stock appreciation rights and vesting of restricted stock units by employees and directors | 0 | 882 | (882) | 0 | 0 | |
Equity-based compensation | $ 0 | 3,005 | 0 | 0 | 0 | 3,005 |
Balance (in shares) at Jun. 30, 2021 | 23,975 | |||||
Balance at Jun. 30, 2021 | $ 24 | $ 401,921 | $ (107,717) | $ (137,129) | $ (970) | $ 156,129 |
Note A - Basis of Presentation
Note A - Basis of Presentation and Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE A BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States for interim financial information and with the instructions to Form 10 10 X. not six June 30, 2021 not may December 31, 2021. 10 December 31, 2020. The significant accounting policies applied in the annual consolidated financial statements of the Company as of December 31, 2020, 10‑K March 15, 2021, Recently Issued and Adopted Accounting Pronouncements In December 2019, No. 2019 12, 740 2019 12” 2019 12 December 15, 2020. 2019 12 not In August 2018, 2018 14—Compensation—Retirement 715 20 2018 14” December 15, 2020, 2018 14 not Use of Estimates The preparation of the interim condensed 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 as of the dates of the interim condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Acquisition of SoundChip In July 2020, July 1, 2020 December 31, 2022. The results of operations of SoundChip have been included in the Company’s consolidated financial statements since July 1, 2020. not 810 The preliminary purchase price allocation ("PPA") was based on information available at the time of closing of the SoundChip acquisition. During 2021, The following table summarizes adjustments since the preliminary PPA was disclosed as of December 31, 2020: Preliminary estimated fair value Adjustments Fair value Cash $ 443 $ - $ 443 Property and equipment 456 - 456 Current assets 2,301 - 2,301 Other non-current assets 1,042 - 1,042 Current liabilities (1,007 ) 25 (982 ) Other long-term liabilities (1,945 ) - (1,945 ) Net tangible assets acquired 1,290 - 1,315 Deferred tax liability (1,121 ) - (1,121 ) Intangible assets: Developed technology 7,189 - 7,189 Backlog 54 - 54 Customer relationships 678 - 678 Total intangible assets 7,921 - 7,921 Goodwill 6,862 (197 ) 6,665 Net assets acquired $ 14,952 $ 14,780 |
Note B - Operating Leases
Note B - Operating Leases | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | NOTE B OPERATING LEASES The Company has entered into various non-cancelable operating lease agreements of its offices and car leases. The Company's leases have original lease periods expiring between 2021 2030. one not not Total operating lease cost during the three six June 30, 2021 three six June 30, 2021, Total operating lease cost during the three six June 30, 2020 three six June 30, 2020, Other information about lease amounts recognized in the Company’s consolidated financial statements is summarized as follows (unaudited): June 30, 2021 June 30, 2020 Weighted-average remaining lease term – operating leases (years) 6.66 7.70 Weighted-average discount rate – operating leases 5.03 % 5.05 % As of June 30, 2021, 2020 June 30, 2021 June 30, 2020 Gross lease liabilities $ 14,490 $ 15,022 Less: imputed interest (2,434 ) (2,850 ) Present value of lease liabilities 12,056 12,172 Less: current portion of lease liabilities (2,874 ) (2,404 ) Total long-term lease liabilities $ 9,182 $ 9,768 |
Note C - Inventories
Note C - Inventories | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE C INVENTORIES Inventories are stated at the lower of cost or net realizable value. The Company periodically evaluates the quantities on hand relative to current and historical selling prices, and historical and projected sales volume. Based on these evaluations, provisions are made in each period to write inventory down to its net realizable value. Inventories are composed of the following: June 30, 2021 December 31, 2020 (Unaudited) (Audited) Work‑in‑process $ 5,585 $ 5,972 Finished goods 799 3,089 $ 6,384 $ 9,061 Inventory write-off amounted to $29 for the six June 30, 2021 not For the six June 30, 2020, |
Note D - Net Loss Per Share
Note D - Net Loss Per Share | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE D NET LOSS PER SHARE Basic net loss per share is computed based on the weighted average number of shares of common stock outstanding during the period. For the same periods, diluted net loss per share further includes the effect of dilutive stock options, stock appreciation rights and restricted share units outstanding during the period, all in accordance with FASB ASC No. 260 Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (Unaudited) Net loss $ (399 ) $ (1,077 ) $ (1,742 ) $ (3,543 ) Loss per share: Basic and Diluted $ (0.02 ) $ (0.05 ) $ (0.07 ) $ (0.15 ) Weighted average number of shares of common stock outstanding during the period used to compute basic net loss per share (in thousands) 24,204 23,301 24,131 23,321 Incremental shares attributable to exercise of outstanding options, stock appreciation rights and restricted stock units (assuming proceeds would be used to purchase treasury stock) (in thousands) - - - - Weighted average number of shares of common stock used to compute diluted net loss per share (in thousands) 24,204 23,301 24,131 23,321 |
Note E - Marketable Securities
Note E - Marketable Securities and Time Deposits | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE E MARKETABLE SECURITIES AND TIME DEPOSITS The Company accounts for investments in marketable securities in accordance with FASB ASC No.320 10 The Company classifies marketable securities as available-for-sale. Available-for-sale securities are carried at fair value, with unrealized gains and losses, net of taxes, reported in other comprehensive income. The amortized cost of marketable securities is adjusted for amortization of premiums and accretion of discounts to maturity. Such amortization and interest are included in financial income, net. Interest and dividends on securities are included in financial income, net. The following is a summary of available-for-sale securities at June 30, 2021 December 31, 2020: Amortized cost Unrealized gains, net Fair value June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 (Unaudited) (Audited) (Unaudited) (Audited) (Unaudited) (Audited) Short-term deposits 25,230 $ 22,241 $ - $ - 25,230 $ 22,241 U.S. GSE securities 1,146 1,149 10 11 1,156 1,160 Corporate obligations 86,802 87,319 - 349 86,802 87,668 $ 113,178 $ 110,709 $ 10 $ 360 $ 113,188 $ 111,069 The amortized cost of marketable debt securities at June 30, 2021, Unrealized gains (losses) Amortized cost Gains Losses Fair value Due in one year or less $ 23,427 $ 37 $ (13 ) $ 23,451 Due after one year to five years 64,521 267 (281 ) 64,507 $ 87,948 $ 304 $ (294 ) $ 87,958 The actual maturity dates may may The total fair value of marketable securities with outstanding unrealized losses as of June 30, 2021 Management believes that as of June 30, 2021, The Company assessed available-for-sale debt securities with an amortized cost basis in excess of estimated fair value to determine what amount of the difference, if any, is caused by expected credit losses in accordance with ASC 326 not not not may not not June 30, 2021. Proceeds from maturity of available-for-sale marketable securities during the first 2021 2020 first 2021 2020 six June 30, 2021 three June 30, 2020 |
Note F - Taxes on Income
Note F - Taxes on Income | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE F TAXES ON INCOME The effective tax rate used in computing the provision for income taxes is based on projected fiscal year income before taxes, including estimated income by tax jurisdiction. The total amount of net unrecognized tax benefits was $3,268 and $3,449 at June 30, 2021 December 31, 2020, June 30, 2021 ( December 31, 2020, The Company intends to permanently reinvest earnings of its foreign operations and its current operating plans do not not may |
Note G - Significant Customers
Note G - Significant Customers | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Significant Customers Disclosure [Text Block] | NOTE G SIGNIFICANT CUSTOMERS The Company sells its products primarily through distributors and directly to original equipment manufacturers (OEMs) and original design manufacturers (ODMs) who incorporate the Company’s products into consumer products. The Company’s future performance will depend, in part, on the continued success of its distributors in marketing and selling its products. The loss of the Company’s distributors and the Company’s inability to obtain satisfactory replacements in a timely manner may The following table represents the Company’s sales, as a percentage of the Company’s total revenues, for the three six June 30, 2021 2020, Three months ended June 30, Six months ended June 30, (Unaudited) Major customers/ distributors 2021 2020 2021 2020 VTech Holdings Ltd. 14% 22% 16% 21% Nexty Electronics ¹ ² 9% 8% 9% 10% Ascend Technology Inc. ¹ ³ 35% 39% 33% 38% ¹ Distributor. ² Nexty Electronics sells the Company’s products to a limited number of customers; none 10% three six June 30, 2021 2020. ³ Ascend Technology sells the Company’s products to a limited number of customers; one three June 30, 2021 2020, six June 30, 2021 2020. |
Note H - Derivative Instruments
Note H - Derivative Instruments | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE H DERIVATIVE INSTRUMENTS In accordance with Topic 815 As of June 30, 2021 The fair value of derivative assets and derivative liabilities were both $0 as of June 30, 2021. The amount recorded as income in research and development expenses, sales and marketing expenses and general and administrative expenses in the condensed consolidated statements of income for the six June 30, 2021 The amount recorded as income in research and development expenses, sales and marketing expenses and general and administrative expenses in the condensed consolidated statements of income for the six June 30, 2020 The effect of derivative instruments in cash flow hedging transactions on income and other comprehensive income (“OCI”) for the three six June 30, 2021 2020 Gains on Derivatives Recognized in OCI for the three months ended June 30, for the six months ended June 30, (Unaudited) 2021 2020 2021 2020 Foreign exchange forward and option contracts $ 20 $ 17 $ 31 $ 52 Gains Reclassified from OCI into Income for the three months ended June 30 for the six months ended June 30, Unaudited Location 2021 2020 2021 2020 Foreign exchange forward and option contracts Operating expenses $ 26 $ 52 $ 31 $ 52 |
Note I - Contingencies
Note I - Contingencies | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE I CONTINGENCIES From time to time, the Company may may may third no |
Note J - Equity-based Compensat
Note J - Equity-based Compensation | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE J EQUITY-BASED COMPENSATION Grants for the three June 30, 2021 2020 The weighted average estimated fair value of employee restricted stock units (“RSUs”) granted during the three June 30, 2021 2020 three June 30, 2021 2020, Employee stock benefit plans As of June 30, 2021, two may one no may one June 30, 2021, The table below presents a summary of information relating to the Company’s stock option, RSU and SAR grants pursuant to its equity incentive plans (unaudited): Number of Options/ SARs/RSUs Weighted average exercise price Weighted average remaining contractual term (years) (3) Aggregate value (**) in thousands in thousands Outstanding at March 31, 2021 1,836 $ 1.86 RSUs granted 66 - Options / SARs / RSUs cancelled/forfeited/expired (20 ) - Options / SARs exercised and RSUs vested (88 ) $ 0.08 Outstanding at June 30, 2021 (1) 1,794 $ 1.90 3.23 $ 23,155 Exercisable at June 30, 2021 (2) 338 $ 9.84 3.21 $ 1,678 (*) Represents an amount lower than $1. (**) Calculation of aggregate intrinsic value is based on the share price of the Company’s common stock on June 30, 2021 ( ( 1 June 30, 2021. January 1, 2012 ( 2 June 30, 2021. ( 3 not Additional information about stock options, SARs and RSUs outstanding and exercisable at June 30, 2021 June 30, 2021) Exercisable Unexercisable Total Exercise prices Number of Options/ SARs / RSUs (in thousands) Weighted average exercise price Number of Options/ SARs / RSUs (in thousands) Weighted average exercise price Number of Options/ S ARs / RSUs (in thousands) Weighted average exercise price Less than $14.80 338 $ 9.84 1,456 $ 0.06 1,794 $ 1.90 Above $14.80 - $ - - $ - - $ - Total 338 $ 9.84 1,456 $ 0.06 1,794 $ 1.90 The Company’s aggregate equity-based compensation expense for the three June 30, 2021 2020 As of June 30, 2021, 2021 2025. |
Note K - Pension Liability
Note K - Pension Liability | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | NOTE K PENSION LIABILITY The information in this note represents the net periodic pension and post-retirement benefit costs and related components in accordance with FASB ASC No. 715 six June 30, 2020 2019 Six months ended June 30, 2021 2020 Components of net periodic benefit cost: Service cost and amortization of loss $ 15 $ 14 Interest cost 5 5 Net periodic benefit cost $ 20 $ 19 The net pension liability as of June 30, 2021 |
Note L - Fair Value Measurement
Note L - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | NOTE L FAIR VALUE MEASUREMENTS Assets and liabilities measured at fair value on a recurring basis: The Company measures its cash equivalents, short-term deposits, marketable securities and foreign currency derivative contracts at fair value. Cash equivalents, short-term deposits and marketable securities are classified within Level 1 2 2 The following table provides information by value level for assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2021: Balance as of Fair value measurements Description December 31, 2021 Level 1 Level 2 Level 3 Assets Cash equivalents Money market mutual funds $ 919 $ 919 $ - $ - Short-term marketable securities U.S. GSE securities $ 425 $ - $ 425 $ - Corporate debt securities $ 23,026 $ - $ 23,026 $ - Long-term marketable securities U.S. GSE securities $ 731 $ - $ 731 $ - Corporate debt securities $ 63,776 $ - $ 63,776 $ - Liabilities Earn-out liability $ 1,945 $ - $ - $ 1,945 The following table provides information by value level for assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2020. Balance as of Fair value measurements Description December 31, 2020 Level 1 Level 2 Level 3 Assets Cash equivalents Money market mutual funds $ 962 $ 962 $ - $ - Short-term marketable securities U.S. GSE securities $ 425 $ - $ 425 $ - Corporate debt securities $ 27,949 $ - $ 27,949 $ - Long-term marketable securities U.S. GSE securities $ 735 $ - $ 735 $ - Corporate debt securities $ 59,719 $ - $ 59,719 $ - Liabilities Earn-out liability $ 1,945 $ - $ - $ 1,945 In addition to the assets and liabilities described above, the Company’s financial instruments also include cash and cash equivalents, restricted and short-term deposits, trade receivables, other accounts receivable, trade payables, accrued expenses and other payables. The fair value of these financial instruments was not June 30, 2021 |
Note M - Stockholders' Equity
Note M - Stockholders' Equity | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE M STOCKHOLDERS EQUITY During the six June 30, 2021, June 30, 2021, During the six June 30, 2020, Repurchases of common stock are accounted for as treasury stock, and result in a reduction of stockholders’ equity. The Company reissues treasury shares pursuant to its stock purchase plan, upon exercise of options and upon vesting of restricted stock units. Reissuance of treasury shares is accounted for in accordance with ASC No. 505 30 During the first six 2021, 1993 |
Note N - Segment Information
Note N - Segment Information | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE N SEGMENT INFORMATION Description of segments: The Company operates under two reportable segments. The Company’s segment information has been prepared in accordance with ASC 280, The Company’s reporting segments up until December 31, 2020 As a result of an organization change that took place starting in 2021 January 1, 2021, not A description of the types of products provided by each business segment is as follows: Cordless – This segment includes integrated circuit products targeted for cordless phones sold in retail or supplied by telecommunication service providers. Revenues from this segment amounted to 33% and 35% of the Company’s total revenues for the first 2021 2020, second 2021 2020, IoAT (Internet of Audio Things) – This segment includes the following products: (i) SmartHome (home gateways and home automation) – Wireless chipset solutions for converged communication at home. Target applications include: home gateway devices supplied by telecommunication service and security providers with DECT/CAT-iq and ULE functionality for data and two first 2021 2020 second 2021 2020, (ii) Unified Communications — Comprehensive suite of solutions for Unified Communications products, including office solutions for businesses of all sizes, from low-cost VoIP terminals with converged voice and data applications, to high-end conferencing systems. Revenues from the Company’s Unified Communications products represented 32% and 36% of its total revenues for the first 2021 2020, second 2021 2020, (iii) SmartVoice — SmartVoice hardware and software solutions provide voice activation and recognition, sound event detection (SED), voice enhancement, always-on wake-word detection, far-end noise elimination targeted for mobile phones, mobile headsets/hearables, wearables, tablets, consumer home electronics, security systems and other devices that incorporate the Company’s noise suppression and voice quality enhancement HDClear technology. SmartVoice includes an active noise cancellation (ANC) solution for hearables (headphones and true wireless stereo (TWS) earbud) applications. Revenues from the Company’s SmartVoice products represented 19% and 14% of the Company’s total revenues for the first 2021 2020, second 2021 2020, Segment data: The Company derives the results of its business segments directly from its internal management reporting system and by using certain allocation methods. The accounting policies the Company uses to derive business segment results are substantially the same as those the Company uses for consolidation of its financial statements. The CODM measures the performance of each business segment based on several metrics, including earnings from operations. The CODM uses these results, in part, to evaluate the performance of, and to assign resources to, each of the business segments. The Company does not Selected operating results information for each business segment was as follows for the three June 30, 2021 2020 Three months ended June 30, Revenues Income (loss) from operations 2021 2020 2021 2020 Cordless $ 11,048 $ 9,939 $ 4,531 $ 3,577 IoAT $ 24,759 $ 18,397 $ (614 ) $ (1,942 ) Total $ 35,807 $ 28,336 $ 3,917 $ 1,635 Selected operating results information for each business segment was as follows for the six June 30, 2021 2020 Six months ended June 30, Revenues Income (loss) from operations 2021 2020 2021 2020 Cordless $ 22,918 $ 19,996 $ 9,052 $ 6,774 IoAT $ 45,536 $ 36,579 $ (3,107 ) $ (6,148 ) Total $ 68,454 $ 56,575 $ 5,945 $ 626 The reconciliation of segment operating results information to the Company’s consolidated financial information was as follows for the three six June 30, 2021 ( Three months Six months Income from operations $ 3,917 $ 5,945 Unallocated corporate, general and administrative expenses (648 ) (1,250 ) Equity-based compensation expenses (3,005 ) (5,535 ) Intangible assets amortization expenses (429 ) (848 ) Amortization of employee retention expenses related to the acquisition of SoundChip (250 ) (500 ) Financial income, net 94 735 Total consolidated loss before taxes $ (321 ) $ (1,453 ) The reconciliation of segment operating results information to the Company’s consolidated financial information was as follows for the three six June 30, 2020 ( Three months Six months Income from operations $ 1,635 $ 626 Unallocated corporate, general and administrative expenses (610 ) (1,102 ) Equity-based compensation expenses (2,281 ) (4,113 ) Intangible assets amortization expenses (104 ) (208 ) Financial income, net 289 1,192 Total consolidated loss before taxes $ (1,071 ) $ (3,605 ) |
Note O - Accumulated Other Comp
Note O - Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE O ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table summarizes the changes in accumulated balances of other comprehensive income for the three June 30, 2021 ( Unrealized gains (losses) on available- for-sale marketable securities Unrealized gains (losses) on cash flow hedges Unrealized gains (losses) on components of defined benefit plans Unrealized losses on foreign currency translation Total Beginning balance $ 64 $ 6 $ (485 ) $ (471 ) $ (886 ) Other comprehensive income (loss) before reclassifications (54 ) 20 - (30 ) (64 ) Losses (gains) reclassified from accumulated other comprehensive income - (26 ) 6 - (20 ) Net current period other comprehensive income (loss) (54 ) (6 ) 6 (30 ) (84 ) Ending balance $ 10 $ - $ (479 ) $ (501 ) $ (970 ) The following table provides details about reclassifications out of accumulated other comprehensive income for the three June 30, 2021 ( Details about accumulated other comprehensive income (loss) components Losses (gains) reclassified from accumulated other comprehensive income (loss) Affected line item in the statement of income (loss) Gains on available-for-sale marketable securities - Financial income, net - Provision for income taxes - Total, net of income taxes Gains on cash flow hedges (20 ) Research and development (2 ) Sales and marketing (4 ) General and administrative (26 ) Total, before income taxes - Provision for income taxes (26 ) Total, net of income taxes Losses on components of defined benefit plans 3 Research and development 3 Sales and marketing 6 Total, before income taxes - Provision for income taxes 6 Total, net of income taxes Total reclassifications for the period $ (20 ) Total, net of income taxes The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the six June 30, 2021 ( Unrealized gains (losses) on available- for-sale marketable securities Unrealized gains (losses) on Cash Flow Hedges Unrealized gains (losses) on components of defined benefit plans Unrealized gains (losses) on foreign currency translation Total Beginning balance $ 358 $ - $ (491 ) $ (504 ) $ (637 ) Other comprehensive income (loss) before reclassifications (356 ) 31 - 3 (322 ) Losses (gains) reclassified from accumulated other comprehensive income (loss) 8 (31 ) 12 - (11 ) Net current period other comprehensive income (loss) (348 ) - 12 3 (333 ) Ending balance $ 10 $ - $ (479 ) (501 ) $ (970 ) The following table provides details about reclassifications out of accumulated other comprehensive income for the six June 30, 2021 ( Details about accumulated other comprehensive income (loss) components Losses (gains) reclassified from accumulated other comprehensive income (loss) Affected line item in the statement of income Losses on available-for-sale marketable securities $ 8 Financial income, net - Provision for income taxes 8 Total, net of income taxes Gains on cash flow hedges (24 ) Research and development (3 ) Sales and marketing (4 ) General and administrative (31 ) Total, before income taxes - Provision for income taxes (31 ) Total, net of income taxes Losses on components of defined benefit plans 7 Research and development 5 Sales and marketing 12 Total, before income taxes - Provision for income taxes 12 Total, net of income taxes Total reclassifications for the period $ (11 ) Total, net of income taxes |
Note P - Government Grants
Note P - Government Grants | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Government Grants [Text Block] | NOTE P GOVERNMENT GRANTS Government grants received by the Company’s Israeli subsidiary relating to categories of operating expenditures are credited to the consolidated statements of income during the period during which the expenditure to which they relate is charged. Royalty and non-royalty-bearing grants from the Israeli Innovation Authority ("IIA") for funding certain approved research and development projects are recognized at the time when the Company’s Israeli subsidiary is entitled to such grants, on the basis of the related costs incurred, and are included as a deduction from research and development expenses, net. The Company recorded grants in the amount of $911 and $907 for the three June 30, 2021 2020, The Company recorded grants in the amount of $1,452 and $1,120 for the six June 30, 2021 2020, The Company’s Israeli subsidiary is obligated to pay royalties amounting to 5% of the sales of certain products, the development of which benefited from grants received from the IIA in previous years. The obligation to pay these royalties is contingent on actual sales of such products. Grants received from the IIA may not may six third |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued and Adopted Accounting Pronouncements In December 2019, No. 2019 12, 740 2019 12” 2019 12 December 15, 2020. 2019 12 not In August 2018, 2018 14—Compensation—Retirement 715 20 2018 14” December 15, 2020, 2018 14 not |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of the interim condensed 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 as of the dates of the interim condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. |
Business Combinations Policy [Policy Text Block] | Acquisition of SoundChip In July 2020, July 1, 2020 December 31, 2022. The results of operations of SoundChip have been included in the Company’s consolidated financial statements since July 1, 2020. not 810 The preliminary purchase price allocation ("PPA") was based on information available at the time of closing of the SoundChip acquisition. During 2021, The following table summarizes adjustments since the preliminary PPA was disclosed as of December 31, 2020: Preliminary estimated fair value Adjustments Fair value Cash $ 443 $ - $ 443 Property and equipment 456 - 456 Current assets 2,301 - 2,301 Other non-current assets 1,042 - 1,042 Current liabilities (1,007 ) 25 (982 ) Other long-term liabilities (1,945 ) - (1,945 ) Net tangible assets acquired 1,290 - 1,315 Deferred tax liability (1,121 ) - (1,121 ) Intangible assets: Developed technology 7,189 - 7,189 Backlog 54 - 54 Customer relationships 678 - 678 Total intangible assets 7,921 - 7,921 Goodwill 6,862 (197 ) 6,665 Net assets acquired $ 14,952 $ 14,780 |
Note A - Basis of Presentatio_2
Note A - Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Preliminary estimated fair value Adjustments Fair value Cash $ 443 $ - $ 443 Property and equipment 456 - 456 Current assets 2,301 - 2,301 Other non-current assets 1,042 - 1,042 Current liabilities (1,007 ) 25 (982 ) Other long-term liabilities (1,945 ) - (1,945 ) Net tangible assets acquired 1,290 - 1,315 Deferred tax liability (1,121 ) - (1,121 ) Intangible assets: Developed technology 7,189 - 7,189 Backlog 54 - 54 Customer relationships 678 - 678 Total intangible assets 7,921 - 7,921 Goodwill 6,862 (197 ) 6,665 Net assets acquired $ 14,952 $ 14,780 |
Note B - Operating Leases (Tabl
Note B - Operating Leases (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Lease, Cost [Table Text Block] | June 30, 2021 June 30, 2020 Weighted-average remaining lease term – operating leases (years) 6.66 7.70 Weighted-average discount rate – operating leases 5.03 % 5.05 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | June 30, 2021 June 30, 2020 Gross lease liabilities $ 14,490 $ 15,022 Less: imputed interest (2,434 ) (2,850 ) Present value of lease liabilities 12,056 12,172 Less: current portion of lease liabilities (2,874 ) (2,404 ) Total long-term lease liabilities $ 9,182 $ 9,768 |
Note C - Inventories (Tables)
Note C - Inventories (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 30, 2021 December 31, 2020 (Unaudited) (Audited) Work‑in‑process $ 5,585 $ 5,972 Finished goods 799 3,089 $ 6,384 $ 9,061 |
Note D - Net Loss Per Share (Ta
Note D - Net Loss Per Share (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended June 30, Six months ended June 30, 2021 2020 2021 2020 (Unaudited) Net loss $ (399 ) $ (1,077 ) $ (1,742 ) $ (3,543 ) Loss per share: Basic and Diluted $ (0.02 ) $ (0.05 ) $ (0.07 ) $ (0.15 ) Weighted average number of shares of common stock outstanding during the period used to compute basic net loss per share (in thousands) 24,204 23,301 24,131 23,321 Incremental shares attributable to exercise of outstanding options, stock appreciation rights and restricted stock units (assuming proceeds would be used to purchase treasury stock) (in thousands) - - - - Weighted average number of shares of common stock used to compute diluted net loss per share (in thousands) 24,204 23,301 24,131 23,321 |
Note E - Marketable Securitie_2
Note E - Marketable Securities and Time Deposits (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Available-for-sale Securities [Table Text Block] | Amortized cost Unrealized gains, net Fair value June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 (Unaudited) (Audited) (Unaudited) (Audited) (Unaudited) (Audited) Short-term deposits 25,230 $ 22,241 $ - $ - 25,230 $ 22,241 U.S. GSE securities 1,146 1,149 10 11 1,156 1,160 Corporate obligations 86,802 87,319 - 349 86,802 87,668 $ 113,178 $ 110,709 $ 10 $ 360 $ 113,188 $ 111,069 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Unrealized gains (losses) Amortized cost Gains Losses Fair value Due in one year or less $ 23,427 $ 37 $ (13 ) $ 23,451 Due after one year to five years 64,521 267 (281 ) 64,507 $ 87,948 $ 304 $ (294 ) $ 87,958 |
Note G - Significant Customers
Note G - Significant Customers (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Customer Concentration Risk [Member] | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Three months ended June 30, Six months ended June 30, (Unaudited) Major customers/ distributors 2021 2020 2021 2020 VTech Holdings Ltd. 14% 22% 16% 21% Nexty Electronics ¹ ² 9% 8% 9% 10% Ascend Technology Inc. ¹ ³ 35% 39% 33% 38% |
Note H - Derivative Instrumen_2
Note H - Derivative Instruments (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] | Gains on Derivatives Recognized in OCI for the three months ended June 30, for the six months ended June 30, (Unaudited) 2021 2020 2021 2020 Foreign exchange forward and option contracts $ 20 $ 17 $ 31 $ 52 |
Derivative Instruments, Gain (Loss) [Table Text Block] | Gains Reclassified from OCI into Income for the three months ended June 30 for the six months ended June 30, Unaudited Location 2021 2020 2021 2020 Foreign exchange forward and option contracts Operating expenses $ 26 $ 52 $ 31 $ 52 |
Note J - Equity-based Compens_2
Note J - Equity-based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Activity [Table Text Block] | Number of Options/ SARs/RSUs Weighted average exercise price Weighted average remaining contractual term (years) (3) Aggregate value (**) in thousands in thousands Outstanding at March 31, 2021 1,836 $ 1.86 RSUs granted 66 - Options / SARs / RSUs cancelled/forfeited/expired (20 ) - Options / SARs exercised and RSUs vested (88 ) $ 0.08 Outstanding at June 30, 2021 (1) 1,794 $ 1.90 3.23 $ 23,155 Exercisable at June 30, 2021 (2) 338 $ 9.84 3.21 $ 1,678 |
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Exercisable Unexercisable Total Exercise prices Number of Options/ SARs / RSUs (in thousands) Weighted average exercise price Number of Options/ SARs / RSUs (in thousands) Weighted average exercise price Number of Options/ S ARs / RSUs (in thousands) Weighted average exercise price Less than $14.80 338 $ 9.84 1,456 $ 0.06 1,794 $ 1.90 Above $14.80 - $ - - $ - - $ - Total 338 $ 9.84 1,456 $ 0.06 1,794 $ 1.90 |
Note K - Pension Liability (Tab
Note K - Pension Liability (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Net Benefit Costs [Table Text Block] | Six months ended June 30, 2021 2020 Components of net periodic benefit cost: Service cost and amortization of loss $ 15 $ 14 Interest cost 5 5 Net periodic benefit cost $ 20 $ 19 |
Note L - Fair Value Measureme_2
Note L - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Balance as of Fair value measurements Description December 31, 2021 Level 1 Level 2 Level 3 Assets Cash equivalents Money market mutual funds $ 919 $ 919 $ - $ - Short-term marketable securities U.S. GSE securities $ 425 $ - $ 425 $ - Corporate debt securities $ 23,026 $ - $ 23,026 $ - Long-term marketable securities U.S. GSE securities $ 731 $ - $ 731 $ - Corporate debt securities $ 63,776 $ - $ 63,776 $ - Liabilities Earn-out liability $ 1,945 $ - $ - $ 1,945 Balance as of Fair value measurements Description December 31, 2020 Level 1 Level 2 Level 3 Assets Cash equivalents Money market mutual funds $ 962 $ 962 $ - $ - Short-term marketable securities U.S. GSE securities $ 425 $ - $ 425 $ - Corporate debt securities $ 27,949 $ - $ 27,949 $ - Long-term marketable securities U.S. GSE securities $ 735 $ - $ 735 $ - Corporate debt securities $ 59,719 $ - $ 59,719 $ - Liabilities Earn-out liability $ 1,945 $ - $ - $ 1,945 |
Note N - Segment Information (T
Note N - Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three months ended June 30, Revenues Income (loss) from operations 2021 2020 2021 2020 Cordless $ 11,048 $ 9,939 $ 4,531 $ 3,577 IoAT $ 24,759 $ 18,397 $ (614 ) $ (1,942 ) Total $ 35,807 $ 28,336 $ 3,917 $ 1,635 Six months ended June 30, Revenues Income (loss) from operations 2021 2020 2021 2020 Cordless $ 22,918 $ 19,996 $ 9,052 $ 6,774 IoAT $ 45,536 $ 36,579 $ (3,107 ) $ (6,148 ) Total $ 68,454 $ 56,575 $ 5,945 $ 626 |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | Three months Six months Income from operations $ 3,917 $ 5,945 Unallocated corporate, general and administrative expenses (648 ) (1,250 ) Equity-based compensation expenses (3,005 ) (5,535 ) Intangible assets amortization expenses (429 ) (848 ) Amortization of employee retention expenses related to the acquisition of SoundChip (250 ) (500 ) Financial income, net 94 735 Total consolidated loss before taxes $ (321 ) $ (1,453 ) Three months Six months Income from operations $ 1,635 $ 626 Unallocated corporate, general and administrative expenses (610 ) (1,102 ) Equity-based compensation expenses (2,281 ) (4,113 ) Intangible assets amortization expenses (104 ) (208 ) Financial income, net 289 1,192 Total consolidated loss before taxes $ (1,071 ) $ (3,605 ) |
Note O - Accumulated Other Co_2
Note O - Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Unrealized gains (losses) on available- for-sale marketable securities Unrealized gains (losses) on cash flow hedges Unrealized gains (losses) on components of defined benefit plans Unrealized losses on foreign currency translation Total Beginning balance $ 64 $ 6 $ (485 ) $ (471 ) $ (886 ) Other comprehensive income (loss) before reclassifications (54 ) 20 - (30 ) (64 ) Losses (gains) reclassified from accumulated other comprehensive income - (26 ) 6 - (20 ) Net current period other comprehensive income (loss) (54 ) (6 ) 6 (30 ) (84 ) Ending balance $ 10 $ - $ (479 ) $ (501 ) $ (970 ) Unrealized gains (losses) on available- for-sale marketable securities Unrealized gains (losses) on Cash Flow Hedges Unrealized gains (losses) on components of defined benefit plans Unrealized gains (losses) on foreign currency translation Total Beginning balance $ 358 $ - $ (491 ) $ (504 ) $ (637 ) Other comprehensive income (loss) before reclassifications (356 ) 31 - 3 (322 ) Losses (gains) reclassified from accumulated other comprehensive income (loss) 8 (31 ) 12 - (11 ) Net current period other comprehensive income (loss) (348 ) - 12 3 (333 ) Ending balance $ 10 $ - $ (479 ) (501 ) $ (970 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Details about accumulated other comprehensive income (loss) components Losses (gains) reclassified from accumulated other comprehensive income (loss) Affected line item in the statement of income (loss) Gains on available-for-sale marketable securities - Financial income, net - Provision for income taxes - Total, net of income taxes Gains on cash flow hedges (20 ) Research and development (2 ) Sales and marketing (4 ) General and administrative (26 ) Total, before income taxes - Provision for income taxes (26 ) Total, net of income taxes Losses on components of defined benefit plans 3 Research and development 3 Sales and marketing 6 Total, before income taxes - Provision for income taxes 6 Total, net of income taxes Total reclassifications for the period $ (20 ) Total, net of income taxes Details about accumulated other comprehensive income (loss) components Losses (gains) reclassified from accumulated other comprehensive income (loss) Affected line item in the statement of income Losses on available-for-sale marketable securities $ 8 Financial income, net - Provision for income taxes 8 Total, net of income taxes Gains on cash flow hedges (24 ) Research and development (3 ) Sales and marketing (4 ) General and administrative (31 ) Total, before income taxes - Provision for income taxes (31 ) Total, net of income taxes Losses on components of defined benefit plans 7 Research and development 5 Sales and marketing 12 Total, before income taxes - Provision for income taxes 12 Total, net of income taxes Total reclassifications for the period $ (11 ) Total, net of income taxes |
Note A - Basis of Presentatio_3
Note A - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) - SoundChip [Member] $ in Millions | Jul. 01, 2020USD ($) |
Business Combination, Consideration Transferred, Total | $ 15 |
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 6 |
Note A - Basis of Presentatio_4
Note A - Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Business Acquisitions (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Dec. 31, 2020 | Jun. 30, 2021 | Jul. 01, 2020 | |
Goodwill | $ 13,105 | $ 13,105 | |
SoundChip [Member] | |||
Cash | 443 | $ 443 | |
Property and equipment | 456 | 456 | |
Current assets | 2,301 | 2,301 | |
Other non-current assets | 1,042 | 1,042 | |
Current liabilities | (982) | (1,007) | |
Current liabilities | 25 | ||
Other long-term liabilities | (1,945) | (1,945) | |
Net tangible assets acquired | 1,315 | 1,290 | |
Deferred tax liability | (1,121) | (1,121) | |
Intangible assets | 7,921 | 7,921 | |
Goodwill | 6,665 | 6,862 | |
Goodwill, adjustments | (197) | ||
Net assets acquired | 14,780 | 14,952 | |
SoundChip [Member] | Developed Technology Rights [Member] | |||
Intangible assets | 7,189 | 7,189 | |
SoundChip [Member] | Backlog [Member] | |||
Intangible assets | 54 | 54 | |
SoundChip [Member] | Customer Relationships [Member] | |||
Intangible assets | $ 678 | $ 678 |
Note B - Operating Leases (Deta
Note B - Operating Leases (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Operating Lease, Cost | $ 799 | $ 691 | $ 1,630 | $ 1,400 |
Operating Lease, Payments | $ 799 | $ 691 | $ 1,630 | $ 1,400 |
Minimum [Member] | ||||
Lessee, Operating Lease, Remaining Lease Term (Year) | 1 year | 1 year | ||
Maximum [Member] | ||||
Lessee, Operating Lease, Remaining Lease Term (Year) | 10 years | 10 years |
Note B - Operating Leases - Inf
Note B - Operating Leases - Information About Lease Amounts (Details) | Jun. 30, 2021 | Jun. 30, 2020 |
Weighted-average remaining lease term – operating leases (years) (Year) | 6 years 7 months 28 days | 7 years 8 months 12 days |
Weighted-average discount rate – operating leases | 5.03% | 5.05% |
Note B - Operating Leases - Lea
Note B - Operating Leases - Lease Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 |
Gross lease liabilities | $ 14,490 | $ 15,022 | |
Less: imputed interest | (2,434) | (2,850) | |
Present value of lease liabilities | 12,056 | 12,172 | |
Less: current portion of lease liabilities | (2,874) | $ (2,974) | (2,404) |
Total long-term lease liabilities | $ 9,182 | $ 10,075 | $ 9,768 |
Note C - Inventories (Details T
Note C - Inventories (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Inventory Write-down | $ 29 | |
Income from Inventory Previously Written Off | $ 91 |
Note C - Inventories - Componen
Note C - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Work-in-process | $ 5,585 | $ 5,972 |
Finished goods | 799 | 3,089 |
Inventories | $ 6,384 | $ 9,061 |
Note D - Net Loss Per Share - N
Note D - Net Loss Per Share - Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Net loss | $ (399) | $ (1,077) | $ (1,742) | $ (3,543) |
Basic and Diluted (in dollars per share) | $ (0.02) | $ (0.05) | $ (0.07) | $ (0.15) |
Weighted average number of shares of common stock outstanding during the period used to compute basic net loss per share (in thousands) (in shares) | 24,204 | 23,301 | 24,131 | 23,321 |
Incremental shares attributable to exercise of outstanding options, stock appreciation rights and restricted stock units (assuming proceeds would be used to purchase treasury stock) (in thousands) (in shares) | 0 | 0 | 0 | 0 |
Weighted average number of shares of common stock used to compute diluted net loss per share (in thousands) (in shares) | 24,204 | 23,301 | 24,131 | 23,321 |
Note E - Marketable Securitie_3
Note E - Marketable Securities and Time Deposits (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, Total | $ 48,883 | ||
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 294 | ||
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Total | 0 | ||
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale | 15,423 | $ 39,439 | |
Proceeds from Sale of Debt Securities, Available-for-sale | 4,692 | $ 9,558 | |
Debt Securities, Available-for-sale, Realized Loss | $ 12 | (8) | |
Corporate Debt Securities [Member] | |||
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Total | $ 0 |
Note E - Marketable Securitie_4
Note E - Marketable Securities and Time Deposits - Marketable Securities and Time Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Marketable securities and time deposits, amortized cost | $ 87,948 | |
Marketable securities and time deposits, estimated fair value | 87,958 | |
Debt Securities and Time Deposits [Member] | ||
Marketable securities and time deposits, amortized cost | 113,178 | $ 110,709 |
Marketable securities and time deposits, unrealized gains (losses), net | 10 | 360 |
Marketable securities and time deposits, estimated fair value | 113,188 | 111,069 |
Debt Securities and Time Deposits [Member] | Short-term Deposits [Member] | ||
Marketable securities and time deposits, amortized cost | 25,230 | 22,241 |
Marketable securities and time deposits, unrealized gains (losses), net | 0 | 0 |
Marketable securities and time deposits, estimated fair value | 25,230 | 22,241 |
Debt Securities and Time Deposits [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Marketable securities and time deposits, amortized cost | 1,146 | 1,149 |
Marketable securities and time deposits, unrealized gains (losses), net | 10 | 11 |
Marketable securities and time deposits, estimated fair value | 1,156 | 1,160 |
Debt Securities and Time Deposits [Member] | Corporate Debt Securities [Member] | ||
Marketable securities and time deposits, amortized cost | 86,802 | 87,319 |
Marketable securities and time deposits, unrealized gains (losses), net | 0 | 349 |
Marketable securities and time deposits, estimated fair value | $ 86,802 | $ 87,668 |
Note E - Marketable Securitie_5
Note E - Marketable Securities and Time Deposits - Marketable Debt Securities by Contractual Maturities (Details) $ in Thousands | Jun. 30, 2021USD ($) |
Marketable debt securities, amortized cost | $ 87,948 |
Marketable debt securities, unrealized gains | 304 |
Marketable debt securities, unrealized losses | (294) |
Marketable debt securities, estimated fair value | 87,958 |
Due in One Year or Less [Member] | |
Marketable debt securities, amortized cost | 23,427 |
Marketable debt securities, unrealized gains | 37 |
Marketable debt securities, unrealized losses | (13) |
Marketable debt securities, estimated fair value | 23,451 |
Due after One Year to Five Years [Member] | |
Marketable debt securities, amortized cost | 64,521 |
Marketable debt securities, unrealized gains | 267 |
Marketable debt securities, unrealized losses | (281) |
Marketable debt securities, estimated fair value | $ 64,507 |
Note F - Taxes on Income (Detai
Note F - Taxes on Income (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Unrecognized Tax Benefits, Ending Balance | $ 3,268 | $ 3,449 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | $ 302 | $ 329 |
Note G - Significant Customer_2
Note G - Significant Customers (Details Textual) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Cisco Systems, Inc. [Member] | ||||
Concentration Risk, Percentage | 12.00% | 21.00% | 12.00% | 18.00% |
Note G - Significant Customer_3
Note G - Significant Customers - Sales to Major Customers (Distributors) As a Percentage of Total Revenues (Details) - Customer Concentration Risk [Member] - Revenue Benchmark [Member] | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
VTech Holdings Ltd [Member] | |||||
Concentration risk, percentage | 14.00% | 22.00% | 16.00% | 21.00% | |
Nexty Electronics Corporation [Member] | |||||
Concentration risk, percentage | [1],[2] | 9.00% | 8.00% | 9.00% | 10.00% |
Ascend Technology Inc [Member] | |||||
Concentration risk, percentage | [1],[3] | 35.00% | 39.00% | 33.00% | 38.00% |
[1] | Distributor. | ||||
[2] | Nexty Electronics sells the Company’s products to a limited number of customers; none of those customers accounted for 10% or more of the Company’s total revenues for the three and six month periods ended June 30, 2021 and 2020. | ||||
[3] | Ascend Technology sells the Company’s products to a limited number of customers; one of those customers Cisco Systems accounted for 12% and 21% for the three month periods ended June 30, 2021 and 2020, and 12% and 18% of the Company’s total revenues for the six month periods ended June 30, 2021 and 2020. |
Note H - Derivative Instrumen_3
Note H - Derivative Instruments (Details Textual) - Foreign Exchange Forward Contracts and Put Options [Member] - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Price Risk Cash Flow Hedge Asset, at Fair Value | $ 0 | |
Derivative, Fair Value, Net, Total | 0 | |
Research and Development Expense [Member] | ||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net, Total | 24 | $ 41 |
Selling and Marketing Expense [Member] | ||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net, Total | 3 | 4 |
General and Administrative Expense [Member] | ||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net, Total | $ 4 | $ 7 |
Note H - Derivative Instrumen_4
Note H - Derivative Instruments - Effect of Derivative Instruments in Cash Flow Hedging Transactions on Income and Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Foreign Exchange Forward Contracts and Put Options [Member] | ||||
Foreign exchange forward and option contracts | $ 20 | $ 17 | $ 31 | $ 52 |
Note H - Derivative Instrumen_5
Note H - Derivative Instruments - Gains (Losses) on Derivatives Reclassified From OCI to Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Foreign Exchange Forward Contracts and Put Options [Member] | Operating Expense [Member] | ||||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net, Total | $ 26 | $ 52 | $ 31 | $ 52 |
Note J - Equity-based Compens_3
Note J - Equity-based Compensation (Details Textual) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 114 Months Ended | ||
Jun. 30, 2021USD ($)$ / sharesshares | Jun. 30, 2020USD ($)$ / shares | Jun. 30, 2021USD ($)$ / sharesshares | Jun. 30, 2020USD ($) | Jun. 30, 2021USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 12.51 | $ 15.47 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Weighted Average Pre Vest Cancel Rate | 4.22% | 4.27% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Equity Incentive Plans from Which Future Equity Awards May Be Granted | 2 | 2 | 2 | ||
Share-based Compensation Arrangement by Share-based Payment Award Number of Employee Purchase Plans | 1 | 1 | 1 | ||
Share Price (in dollars per share) | $ / shares | $ 14.80 | $ 14.80 | $ 14.80 | ||
Share-based Payment Arrangement, Expense | $ | $ 3,005 | $ 2,281 | $ 5,535 | $ 4,113 | |
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ | $ 12,294 | $ 12,294 | $ 12,294 | ||
Stock Appreciation Rights (SARs) [Member] | Maximum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares to be Issued Upon Exercise of Outstanding Awards (in shares) | 1,765,000 | 1,765,000 | 1,765,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant as Percentage of Company Outstanding Common Stock | 50.00% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Stock Appreciation Rights, Exercisable, Number (in shares) | 310,000 | 310,000 | 310,000 | ||
Employee Stock Purchase Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 468,000 | 468,000 | 468,000 | ||
Equity Incentive Plans [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 433,000 | 433,000 | 433,000 |
Note J - Equity-based Compens_4
Note J - Equity-based Compensation - Stock Options, SARs and RSUs Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Jun. 30, 2021USD ($)$ / sharesshares | ||
Outstanding at March 31, 2021 (in shares) | shares | 1,836 | |
Outstanding at March 31, 2021 (in dollars per share) | $ / shares | $ 1.86 | |
Options / SARs / RSUs cancelled/forfeited/expired (in shares) | shares | (20) | |
Options / SARs / RSUs cancelled/forfeited/expired, weighted average exercise price (in dollars per share) | $ / shares | $ 0 | |
Options / SARs exercised and RSUs vested (in shares) | shares | (88) | |
Options / SARs exercised and RSUs vested, weighted average exercise price (in dollars per share) | $ / shares | $ 0.08 | |
Outstanding (in shares) | shares | 1,794 | [1] |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 1.90 | [1] |
Outstanding, weighted average remaining contractual term (Year) | 3 years 2 months 23 days | [1],[2] |
Outstanding, aggregate value | $ | $ 23,155 | [1],[3] |
Exercisable (in shares) | shares | 338 | [4] |
Exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 9.84 | [4] |
Exercisable, weighted average remaining contractual term (Year) | 3 years 2 months 15 days | [2],[4] |
Exercisable, aggregate value | $ | $ 1,678 | [3],[4] |
Restricted Stock Units (RSUs) [Member] | ||
Non-option instruments granted (in shares) | shares | 66 | |
Non-option instruments, weighted average exercise price (in dollars per share) | $ / shares | $ 0 | |
[1] | Due to the ceiling imposed on the SAR grants, the outstanding amount above can be exercised for a maximum of 1,765 thousand shares of the Company’s common stock as of June 30, 2021. SAR grants made on or after January 1, 2012 are convertible for a maximum number of shares of the Company’s common stock equal to 50% of the SARs subject to the grant. | |
[2] | Calculation of weighted average remaining contractual term does not include RSUs that were granted, which have indefinite contractual term. | |
[3] | Calculation of aggregate intrinsic value is based on the share price of the Company’s common stock on June 30, 2021 ($14.80 per share). | |
[4] | Due to the ceiling imposed on the SAR grants, the exercisable amount above can be exercised for a maximum of 310 thousand shares of the Company’s common stock as of June 30, 2021. |
Note J - Equity-based Compens_5
Note J - Equity-based Compensation - Company's Stock Options and SAR Units Outstanding and Exercisable (Details) shares in Thousands | Jun. 30, 2021$ / sharesshares |
Number of Options/ SARs / RSUs - Exercisable (in shares) | shares | 338 |
Weighted Average Exercise Price - Exercisable (in dollars per share) | $ / shares | $ 9.84 |
Number of Options/ SARs / RSUs - Unexercisable (in shares) | shares | 1,456 |
Weighted Average Exercise Price - Unexercisable (in dollars per share) | $ / shares | $ 0.06 |
Number of Options/ SARs / RSUs (in shares) | shares | 1,794 |
Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 1.90 |
Range 1 [Member] | |
Number of Options/ SARs / RSUs - Exercisable (in shares) | shares | 338 |
Weighted Average Exercise Price - Exercisable (in dollars per share) | $ / shares | $ 9.84 |
Number of Options/ SARs / RSUs - Unexercisable (in shares) | shares | 1,456 |
Weighted Average Exercise Price - Unexercisable (in dollars per share) | $ / shares | $ 0.06 |
Number of Options/ SARs / RSUs (in shares) | shares | 1,794 |
Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 1.90 |
Range 2 [Member] | |
Number of Options/ SARs / RSUs - Exercisable (in shares) | shares | 0 |
Weighted Average Exercise Price - Exercisable (in dollars per share) | $ / shares | $ 0 |
Number of Options/ SARs / RSUs - Unexercisable (in shares) | shares | 0 |
Weighted Average Exercise Price - Unexercisable (in dollars per share) | $ / shares | $ 0 |
Number of Options/ SARs / RSUs (in shares) | shares | 0 |
Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 0 |
Note K - Pension Liability (Det
Note K - Pension Liability (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Liability, Defined Benefit Pension Plan, Noncurrent | $ 1,058 | $ 1,089 |
Note K - Pension Liability - Co
Note K - Pension Liability - Components of Net Periodic Benefit Costs (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Service cost and amortization of loss | $ 15 | $ 14 |
Interest cost | 5 | 5 |
Net periodic benefit cost | $ 20 | $ 19 |
Note L - Fair Value Measureme_3
Note L - Fair Value Measurements - Fair Value Measurements of Assets and Liabilities on Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020 |
Earn-out Liability [Member] | ||
Earn-out liability | $ 1,945 | $ 1,945 |
Fair Value, Inputs, Level 1 [Member] | Earn-out Liability [Member] | ||
Earn-out liability | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Earn-out Liability [Member] | ||
Earn-out liability | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Earn-out Liability [Member] | ||
Earn-out liability | 1,945 | 1,945 |
Money Market Funds [Member] | ||
Money market mutual funds | 919 | 962 |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Money market mutual funds | 919 | 962 |
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Money market mutual funds | 0 | 0 |
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Money market mutual funds | 0 | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Short-term securities | 425 | 425 |
Long-term securities | 731 | 735 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Short-term securities | 0 | 0 |
Long-term securities | 0 | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Short-term securities | 425 | 425 |
Long-term securities | 731 | 735 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Short-term securities | 0 | 0 |
Long-term securities | 0 | 0 |
Corporate Debt Securities [Member] | ||
Short-term securities | 23,026 | 27,949 |
Long-term securities | 63,776 | 59,719 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Short-term securities | 0 | 0 |
Long-term securities | 0 | 0 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Short-term securities | 23,026 | 27,949 |
Long-term securities | 63,776 | 59,719 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Short-term securities | 0 | 0 |
Long-term securities | $ 0 | $ 0 |
Note M - Stockholders' Equity (
Note M - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Treasury Stock, Shares, Acquired (in shares) | 339 | 305 | ||
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ 15.62 | $ 12.26 | ||
Treasury Stock, Value, Acquired, Par Value Method | $ 5,299 | $ 294 | $ 5,299 | $ 3,736 |
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares) | 28 | 28 | ||
1993 Employee Stock Purchase Plan (ESPP) [Member] | ||||
Stock Issued During Period, Shares, Employee Stock Ownership Plan (in shares) | 604 |
Note N - Segment Information (D
Note N - Segment Information (Details Textual) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Number of Reportable Segments | 2 | |||
Product Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Home [Member] | Smart Home [Member] | ||||
Concentration Risk, Percentage | 16.00% | 15.00% | 15.00% | 15.00% |
Product Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Home [Member] | Telephony [Member] | ||||
Concentration Risk, Percentage | 31.00% | 35.00% | 33.00% | 35.00% |
Product Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | Office [Member] | VoIP [Member] | ||||
Concentration Risk, Percentage | 33.00% | 36.00% | 32.00% | 36.00% |
Product Concentration Risk [Member] | Revenue, Segment Benchmark [Member] | SmartVoice [Member] | HDClear [Member] | ||||
Concentration Risk, Percentage | 20.00% | 14.00% | 19.00% | 14.00% |
Note N - Segment Information -
Note N - Segment Information - Selected Operating Results (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Revenues | $ 35,807 | $ 28,336 | $ 68,454 | $ 56,575 |
Income from operations | 3,917 | 1,635 | 5,945 | 626 |
Cordless [Member] | ||||
Revenues | 11,048 | 9,939 | 22,918 | 19,996 |
Income from operations | 4,531 | 3,577 | 9,052 | 6,774 |
IoAT [Member] | ||||
Revenues | 24,759 | 18,397 | 45,536 | 36,579 |
Income from operations | $ (614) | $ (1,942) | $ (3,107) | $ (6,148) |
Note N - Segment Information _2
Note N - Segment Information - Reconciliation of Segment Operating Results (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Income from operations | $ 3,917 | $ 1,635 | $ 5,945 | $ 626 |
Unallocated corporate, general and administrative expenses | (648) | (610) | (1,250) | (1,102) |
Equity-based compensation expenses | (3,005) | (2,281) | (5,535) | (4,113) |
Intangible assets amortization expenses | (429) | (104) | (848) | (208) |
Amortization of employee retention expenses related to the acquisition of SoundChip | (250) | (500) | ||
Financial income, net | 94 | 289 | 735 | 1,192 |
Total consolidated loss before taxes | $ (321) | $ (1,071) | $ (1,453) | $ (3,605) |
Note O - Accumulated Other Co_3
Note O - Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Balance | $ 158,906 | $ 149,979 | $ 156,238 | $ 153,094 |
Change in accumulated other comprehensive income (loss) | (84) | 570 | (333) | 335 |
Balance | 156,129 | 152,762 | 156,129 | 152,762 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | ||||
Balance | 64 | 358 | ||
Other comprehensive income (loss) before reclassifications | (54) | (356) | ||
Losses (gains) reclassified from accumulated other comprehensive income | 0 | 8 | ||
Change in accumulated other comprehensive income (loss) | (54) | (348) | ||
Balance | 10 | 10 | ||
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | ||||
Balance | 6 | 0 | ||
Other comprehensive income (loss) before reclassifications | 20 | 31 | ||
Losses (gains) reclassified from accumulated other comprehensive income | (26) | (31) | ||
Change in accumulated other comprehensive income (loss) | (6) | 0 | ||
Balance | 0 | 0 | ||
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||
Balance | (485) | (491) | ||
Other comprehensive income (loss) before reclassifications | 0 | 0 | ||
Losses (gains) reclassified from accumulated other comprehensive income | 6 | 12 | ||
Change in accumulated other comprehensive income (loss) | 6 | 12 | ||
Balance | (479) | (479) | ||
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | ||||
Balance | (471) | (504) | ||
Other comprehensive income (loss) before reclassifications | (30) | 3 | ||
Losses (gains) reclassified from accumulated other comprehensive income | 0 | 0 | ||
Change in accumulated other comprehensive income (loss) | (30) | 3 | ||
Balance | (501) | (501) | ||
AOCI Attributable to Parent [Member] | ||||
Balance | (886) | (1,124) | (637) | (889) |
Other comprehensive income (loss) before reclassifications | (64) | (322) | ||
Losses (gains) reclassified from accumulated other comprehensive income | (20) | (11) | ||
Change in accumulated other comprehensive income (loss) | (84) | 570 | (333) | 335 |
Balance | $ (970) | $ (554) | $ (970) | $ (554) |
Note O - Accumulated Other Co_4
Note O - Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Financial income, net | $ 94 | $ 289 | $ 735 | $ 1,192 | |
Provision for income taxes | 78 | 6 | 289 | (62) | |
Total, net of income taxes | (399) | (1,077) | (1,742) | (3,543) | |
Research and development | [1] | 10,630 | 8,455 | 21,110 | 18,809 |
Sales and marketing | [2] | 5,326 | 4,435 | 10,528 | 9,446 |
General and administrative | [3] | 3,161 | $ 2,627 | 5,814 | $ 4,975 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||
Total, net of income taxes | (20) | (11) | |||
Reclassification out of Accumulated Other Comprehensive Income [Member] | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | |||||
Financial income, net | 0 | 8 | |||
Provision for income taxes | 0 | 0 | |||
Total, net of income taxes | 0 | 8 | |||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | |||||
Provision for income taxes | 0 | 0 | |||
Total, net of income taxes | (26) | (31) | |||
Research and development | (20) | (24) | |||
Sales and marketing | (2) | (3) | |||
General and administrative | (4) | (4) | |||
Total, before income taxes | (26) | (31) | |||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||||
Provision for income taxes | 0 | 0 | |||
Total, net of income taxes | 6 | 12 | |||
Research and development | 3 | 7 | |||
Sales and marketing | 3 | 5 | |||
Total, before income taxes | $ 6 | $ 12 | |||
[1] | Includes equity-based compensation expense in the amount of $1,305 and $826 for the three months ended June 30, 2021 and 2020, respectively; and $2,447 and $1,577 for the six months ended June 30, 2021 and 2020, respectively. | ||||
[2] | Includes equity-based compensation expense in the amount of $745 and $620 for the three months ended June 30, 2021 and 2020, respectively; and $1,371 and $1,175 for the six months ended June 30, 2021 and 2020, respectively. | ||||
[3] | Includes equity-based compensation expense in the amount of $770 and $706 for the three months ended June 30, 2021 and 2020, respectively; and $1,371 and $1,112 for the six months ended June 30, 2021 and 2020, respectively. |
Note P - Government Grants (Det
Note P - Government Grants (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Financial Grants in Support of Research and Development | $ 911 | $ 907 | $ 1,452 | $ 1,120 |
Financial Grants in Support of Research and Development, Royalty Obligation | 5.00% | 5.00% |