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Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2019 shares
Document and Entity Information
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Document Shell Company Report	false
Entity Registrant Name	Fiverr International Ltd.
Entity Common Stock, Shares Outstanding	31,937,772
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity ExTransition Period	false
Entity Shell Company	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Central Index Key	0001762301
Amendment Flag	false

Consolidated balance sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 24,171	$ 55,955
Marketable securities	88,559
User funds	55,945	39,736
Bank deposits	15,000
Restricted deposit	324	327
Other receivables	3,117	776
Total current assets	187,116	96,794
LONG-TERM ASSETS:
Marketable securities	21,805
Property and equipment, net	5,321	5,143
Intangible assets, net	7,188	4,065
Goodwill	11,240	1,381
Restricted deposit	3,168	3,191
Other non-current assets	522	456
Total assets	236,360	111,030
Current liabilities:
Trade payables	3,749	3,364
User accounts	53,013	39,736
Deferred revenue	3,248	0
Other account payables and accrued expenses	21,426	10,231
Current maturities of long-term loan	503	445
Total current liabilities	81,939	53,776
Long-term loan and other non-current liabilities	5,612	3,280
Total liabilities	87,551	57,056
Commitments and contingencies (see note 10)
Share capital and additional paid-in capital:
Shares authorized: 75,000,000 Ordinary shares with no par value as of December 31, 2019, 31,390,135 Ordinary shares and Protected ordinary shares with no par value as of December 31, 2018. Shares issued and outstanding: 31,937,772 Ordinary shares as of December 31, 2019, 7,063,458 Ordinary shares and 18,461,912 Protected ordinary shares as of December 31, 2018.	306,334	178,164
Accumulated deficit	(157,763)	(123,592)
Accumulated other comprehensive income (loss)	238	(598)
Total shareholders' equity	148,809	53,974
Total liabilities and shareholders' equity	$ 236,360	$ 111,030

Consolidated balance sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Ordinary shares, authorized	75,000,000	31,390,135
Protected Ordinary Stock Shares Authorized		31,390,135
Ordinary shares, par value	$ 0	$ 0
Ordinary shares, issued	31,937,772	7,063,458
Ordinary shares, outstanding	31,937,772	7,063,458
Protected ordinary shares issued		18,461,912
Protected ordinary shares outstanding		18,461,912

Consolidated statements of operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Revenue	$ 107,073	$ 75,503	$ 52,112
Cost of revenue	22,224	15,621	13,362
Gross profit	84,849	59,882	38,750
Operating expenses:
Research and development	34,483	26,035	16,074
Sales and marketing	62,750	49,720	33,772
General and administrative	22,366	20,596	8,427
Total operating expenses	119,599	96,351	58,273
Operating loss	(34,750)	(36,469)	(19,523)
Financial income, net	1,371	408	493
Loss before income taxes	(33,379)	(36,061)	(19,030)
Income taxes	(160)		(294)
Net loss	(33,539)	(36,061)	$ (19,324)
Deemed dividend to Protected ordinary shareholders	(632)
Net loss attributable to Ordinary shareholders	$ (34,171)	$ (36,061)
Basic and diluted net loss per share attributable to Ordinary shareholders	$ (1.67)	$ (5.42)	$ (3.04)
Basic and diluted weighted average Ordinary shares	20,503,893	6,647,898	6,355,360

Consolidated statements of comprehensive loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Net loss	$ (33,539)	$ (36,061)	$ (19,324)
Marketable securities:
Unrealized gain	59
Derivatives:
Unrealized income (loss)	1,038	(925)
Amounts reclassified from accumulated other comprehensive income (loss)	(261)	327
Other comprehensive income (loss)	836	(598)
Comprehensive loss	$ (32,703)	$ (36,659)	$ (19,324)

- Definition

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

+ References + Details

Consolidated statements of shareholders' equity - USD ($) $ in Thousands	Ordinary shares	Share capital and additional paid-in capital	Accumulated deficit	Accumulated other comprehensive income (loss)	Total
Balance at Dec. 31, 2016		$ 108,799	$ (68,207)		$ 40,592
Balance, shares at Dec. 31, 2016	22,318,692
Stock-based compensation		1,435			1,435
Exercise of options		396			396
Exercise of options, shares	206,350
Net loss			(19,324)		(19,324)
Balance at Dec. 31, 2017		110,630	(87,531)		23,099
Balance, shares at Dec. 31, 2017	22,525,042
Stock-based compensation		11,659			11,659
Exercise of options		1,240			1,240
Exercise of options, shares	595,852
Issuance of Protected ordinary shares, net of issuance costs		54,635			54,635
Issuance of Protected ordinary shares, net of issuance costs (in shares)	2,404,476
Net loss			(36,061)		(36,061)
Other comprehensive income				$ (598)	(598)
Balance at Dec. 31, 2018		178,164	(123,592)	(598)	$ 53,974
Balance, shares at Dec. 31, 2018	25,525,370				25,525,370
Stock-based compensation		9,009			$ 9,009
Exercise of options		857			$ 857
Exercise of options, shares	162,247				161,398
Issuance of Protected ordinary shares, net of issuance costs		4,340			$ 4,340
Issuance of Protected ordinary shares, net of issuance costs (in shares)	192,358
Issuance of Ordinary shares in connection with IPO, net		113,332			113,332
Issuance of Ordinary shares in connection with IPO, net (Shares)	6,052,631
Exercise of warrants, ( in shares)	5,166
Net loss			(33,539)		(33,539)
Deemed dividend related to the issuance of Protected ordinary shares		632	(632)
Other comprehensive income				836	836
Balance at Dec. 31, 2019		$ 306,334	$ (157,763)	$ 238	$ 148,809
Balance, shares at Dec. 31, 2019	31,937,772				31,937,772

Consolidated statements of changes in shareholders' equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2017
Consolidated statements of shareholders' equity
Ordinary shares issuance costs	$ 4,876
Protected ordinary shares issuance costs	$ 60	$ 74

Consolidated statements of cash flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net loss	$ (33,539)	$ (36,061)	$ (19,324)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	3,571	2,250	1,090
Amortization of discount on marketable securities	(988)
Stock-based compensation	8,899	11,648	1,403
Net loss (gain) from exchange rate fluctuations	65	(77)	(225)
Loss from disposal of property and equipment		26
Changes in assets and liabilities:
User funds	(16,209)	(39,736)
Other receivables	(1,583)	(143)	11
Trade payables	240	808	(145)
Deferred revenue	3,248
User accounts	13,277	7,542	9,142
Other account payables and accrued expenses	8,677	1,937	2,429
Non-current liabilities	398	130	356
Net cash used in operating activities	(13,944)	(51,676)	(5,263)
Investing activities:
Investment in marketable securities	(214,306)
Proceeds from maturities of marketable securities	104,990
Acquisition of business, net of cash acquired*	(9,967)	(2,676)
Purchase of property and equipment	(1,016)	(767)	(2,198)
Capitalization of internal-use software	(739)	(830)	(1,199)
Other receivables and non-current assets	(40)	(142)	2,480
Bank deposits	(15,000)	30,000	10,000
Restricted deposit		482	(4,000)
Net cash provided by investing activities	(136,078)	26,067	5,083
Financing activities:
Proceeds from initial public offering, net	113,350
Proceeds from exercise of options	773	1,240	396
Proceeds from issuance of Protected ordinary shares, net	4,340	53,069
Proceeds from a long-term loan			1,295
Repayment of a long-term loan	(470)	(421)	(438)
Net cash provided by financing activities	117,993	53,888	1,253
Effect of exchange rate fluctuations on cash and cash equivalents	245	(190)	627
Increase (decrease) in cash and cash equivalents	(31,784)	28,089	1,700
Cash and cash equivalents at the beginning of the year	55,955	27,866	26,166
Cash and cash equivalents at the end of the year	24,171	55,955	27,866
Supplemental non-cash disclosure:
Purchase of property and equipment	103	4	58
Stock-based compensation capitalized in internal-use software	110	11	32
Other expenses capitalized in internal-use software	219	54	106
Ordinary shares and Protected ordinary shares issuance costs	18	74
Issuance of Protected ordinary shares for acquisition of business*		1,640
Exercise of options	84
Contingent consideration*	4,240
Supplemental cash flow disclosure:
Cash paid for taxes	36	146	309
Cash paid for interest	$ 131	$ 148	$ 158

General	12 Months Ended
General	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	Note 1: —General a. Fiverr International Ltd. was incorporated on April 29, 2010, under the laws of Israel, and commenced operations on the same date. Fiverr International Ltd. established wholly owned subsidiaries in the United States of America (“U.S.”), Cyprus and Germany. Fiverr International Ltd. and its subsidiaries (the “Company”) operates a worldwide online marketplace for sellers to sell their services and buyers to buy them. The Company’s platform includes over 300 categories across eight verticals, including Graphics & Design, Digital Marketing, Writing & Translation, Video & Animation, Music & Audio, Programming & Tech, Business, and Lifestyle. The Company’s platform also includes a variety of value-added products including subscription-based content marketing platform and back office platform. b. On June 17, 2019 the Company closed its initial public offering (“IPO”) whereby 6,052,631 Ordinary shares were sold by the Company to the public (inclusive of 789,473 Ordinary shares pursuant to the full exercise of an overallotment option granted to the underwriters). The aggregate net proceeds received by the Company from the offering were $113,332 net of underwriting discounts and other offering costs. Immediately prior to the closing of the IPO, 18,654,270 Protected ordinary shares were exchanged for Ordinary shares upon the adoption of the Company’s amended and restated articles of association. Also see note 13.

Significant accounting policies

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Significant accounting policies

Note 2: —Significant accounting policies

The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the U.S. (“U.S. GAAP”). The significant accounting policies followed in the preparation of the consolidated financial statements, are as follows:

Use of estimates:

The preparation of consolidated financial statements, in conformity with generally accepted accounting principles, requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes.

The accounting estimates that require management’s subjective judgments include but are not limited to revenue recognition, income taxes, internal-use software costs, stock-based compensation and purchase price allocation on acquisitions including determination of useful lives and contingent consideration. The Company evaluates its estimates and judgments on an ongoing basis and revises them when necessary. Actual results may differ from the original or revised estimates.

b. Principles of consolidation:

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

c. Functional currency:

The functional currency of the Company is the U.S. dollar, as it is the currency of the primary economic environment in which the Company is operating. Foreign currency transactions and balances have been re-measured to U.S. dollars in accordance with Accounting Standard Codification (“ASC”) Topic 830, “Foreign Currency Matters.” All transaction gains and losses from re-measurement of monetary balance sheet items denominated in foreign currencies are recorded under financial income, net.

d. Cash and cash equivalents:

The Company considers all investments with an original maturity of three months or less at the time of purchase to be cash equivalents including amounts related to payment processing companies.

e. Marketable securities:

The Company accounts for marketable securities in accordance with ASC Topic 320, “Investments – Debt and Equity Securities”. The Company’s investments in marketable securities consist of treasury and corporate bonds.

Investments in marketable securities are classified as available for sale at the time of purchase. Available for sale securities are carried at fair value based on quoted market prices, with unrealized gains and losses, reported in accumulated other comprehensive income (loss) in shareholders’ equity. Realized gains and losses including interest and amortization of discount arising from the acquisition of the investment in marketable securities were recorded under financial income, net.

The Company classifies its investment in marketable securities as either short term or long term based on each instruments’ underlying contractual maturity date as well as the intended time of realization. Marketable securities with maturities of 12 months or less are classified as short-term and marketable securities with maturities greater than 12 months are classified as long-term.

The Company considers available evidence in evaluating potential impairments of its marketable securities, including the duration and extent to which fair value is less than cost. For debt securities, an other-than-temporary impairment has occurred if the Company does not expect to recover the entire amortized cost basis of the debt security.

No impairment was recorded for the year ended December 31, 2019.

Also see note 5.

f. Bank deposits:

Deposits with maturities of more than three months but less than one year are classified as short term. Such deposits are presented at their costs including accrued interest.

g. Restricted deposit:

Restricted deposit is restricted as to withdrawal or use. The Company maintains restricted deposits mainly related to the loan to finance leasehold improvements in the Company’s office space. See note 10.

h. Property and equipment, net:

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


		%
Computers and peripheral equipment		33
Office furniture and equipment		7 – 15
Leasehold improvements		The shorter of the term of the lease or useful life of the asset

The long-lived assets of the Company are tested for impairment in accordance with ASC Topic 360, “Property, Plant and Equipment,” whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If assets are considered to be impaired, the impairment is measured by the amount which the carrying amount of the asset exceeds their fair value. No impairment was recorded for the years ended December 31, 2019, 2018 and 2017.

Internal-use software:

Costs incurred to develop internal-use software are capitalized and amortized over the estimated useful life of the software, which is generally three years. In accordance with ASC Topic, 350‑40, “Internal-Use Software,” capitalization of costs to develop internal-use software begins when preliminary development efforts are successfully completed, the Company has committed project funding and it is probable that the project will be completed, and the software will be used as intended. Costs related to the design or maintenance of internal-use software are expensed as incurred.

The Company periodically reviews internal-use software costs to determine whether the projects will be completed, placed in service, removed from service or replaced by other internally developed or third-party software. If the asset is not expected to provide any future benefit, the asset is retired, and any unamortized cost is expensed.

Capitalized internal-use software costs are recorded under intangible assets.

When events or changes in circumstances require, the Company assesses the likelihood of recovering the cost of internal-use software. If the net book value is not expected to be fully recoverable, internal-use software would be impaired to its fair value. No impairment was incurred for the years ended December 31, 2019, 2018 and 2017.

j. Business combinations:

The results of an acquired business in a business combination are included in the Company’s consolidated financial statements from the date of acquisition according to the guidance of ASC Topic 805, “Business Combinations.” The Company allocates the purchase price, which is the sum of the consideration provided and may consist of cash, equity or a combination of the two, to the identifiable assets and liabilities of the acquired business at their fair values as of the acquisition date. The excess of the purchase price over the amount allocated to the identifiable assets and liabilities, if any, is recorded as goodwill.

The estimated fair values and useful lives of identifiable intangible assets are based on many factors, including estimates and assumptions of future operating performance and cash flows of the acquired business, the nature of the business acquired and the specific characteristics of the identified intangible assets. The estimates and assumptions used to determine the fair values and useful lives of identified intangible assets could change due to numerous factors, including market conditions, technological developments, economic conditions and competition.

Contingent consideration incurred in a business combination is included as part of the acquisition price and recorded at a probability weighted assessment of the fair value as of the acquisition date. The fair value of the contingent consideration is re-measured at each reporting period, with any adjustments in fair value recognized in earnings under general and administrative expenses.

Acquisition related costs incurred by the Company are not included as a component of consideration transferred but are accounted for as an expense in the period in which the costs are incurred.

k. Goodwill and other purchased intangible assets:

Goodwill and other purchased intangible assets have been recorded in the Company’s financial statements as a result of business combinations. Goodwill represents the excess of the aggregate fair value of the consideration transferred in a business combination over the fair value of the assets acquired, net of liabilities assumed. Under ASC Topic 350, “Intangible—Goodwill and other,” goodwill is not amortized, but rather is subject to impairment test. ASC 350 allows an entity to first assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. If the qualitative assessment does not result in a more likely than not indication of impairment, no further impairment testing is required. If it does result in a more likely than not indication of impairment, the two-step impairment test is performed. Alternatively, ASC 350 permits an entity to bypass the qualitative assessment for any reporting unit and proceed directly to performing the first step of the goodwill impairment test. The Company operates in one reporting segment, and this segment comprises its only reporting unit. The Company elected to perform an annual impairment test of goodwill as of October 1st of each year, or more frequently if impairment indicators are present.

Intangible assets that are considered to have definite useful life are amortized using the straight-line basis over their estimated useful lives, which ranges from 3 to 10 years. The carrying amount of these assets is reviewed whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. If the asset is considered to be impaired, the amount of any impairment is measured as the difference between the carrying value and the fair value of the impaired asset. No impairment was recorded for the for the years ended December 31, 2019, 2018 and 2017.

l. Derivatives and hedging:

Derivatives are recognized at fair value as either assets or liabilities in the consolidated balance sheets in accordance with ASC Topic 815, “Derivative and Hedging.” The gain or loss of derivatives which are designated and qualify as hedging instruments in a cash flow hedge, is recorded under accumulated other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Derivatives are classified within Level 2 of the fair value hierarchy as the valuation inputs are based on quoted prices and market observable data of similar instruments.

m. Fair value of financial instruments:

The Company measures and discloses the fair value of financial assets and liabilities in accordance with ASC Topic 820, “Fair Value Measurement.” Fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs.

The accounting standard establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described below:

Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.

Level 2: Observable inputs that are based on inputs not quoted on active markets but corroborated by market data.

Level 3: Unobservable inputs are used when little or no market data is available.

n. Concentrations of credit risks:

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, bank deposits, investment in marketable securities, restricted deposit and derivatives, which are placed in major banks in Israel, United Kingdom, Germany and the U.S.

User funds are held by a payment service provider which, pursuant to the agreement, was engaged to hold the user funds on behalf of buyers and sellers in an account segregated from the payment service provider operating bank account.

The Company does not have significant off-balance sheet concentration of credit risks.

o. Employee related obligations:

The Company accounts for employee related obligations in accordance with ASC Topic 715, “Compensation—retirement benefits.” The Israeli Severance Pay Law, 1963 (“Severance Pay Law”), specifies that employees are entitled to severance payment, following the termination of their employment. Under the Severance Pay Law, the severance payment is calculated as one-month salary for each year of employment, or a portion thereof. The Company’s liability for severance pay is covered by the provisions of Section 14 of the Severance Pay Law (“Section 14”). Under Section 14 employees are entitled to monthly deposits, at a rate of 8.33% of their monthly salary, contributed on their behalf to their insurance funds. Payments in accordance with Section 14 release the Company from any future severance payments in respect of those employees.

As a result, the Company does not recognize any liability for severance pay due to these employees and the deposits under Section 14 are not recorded as an asset in the Company’s balance sheet. Severance costs amounted to $2,359, $1,638 and $1,194 for the years ended December 31, 2019, 2018 and 2017, respectively.

The Company’s U.S. Subsidiary has a 401(K) defined contribution plan covering certain employees in the U.S. All eligible employees may elect to contribute up to 100%, but generally not greater than $18.5 per year, of their annual compensation to the plan through salary deferrals, subject to Internal Revenue Service limits. The U.S. Subsidiary matches 50% of the first 6% of employee contributions. The expenses recorded by the U.S. subsidiary for matching contributions were immaterial for the years ended December 31, 2019, 2018 and 2017.

p. User funds and user accounts:

In 2018 the Company entered into an arrangement with an existing payment service provider to hold funds on behalf of the buyers and sellers (“users”). User funds consist of buyers’ prepayments, including the Company’s transaction and service fees that will be earned when an order is completed, credits issued upon cancellations and seller fees that have not yet been withdrawn. The Company presents on the balance sheet funds held on behalf of users as user funds and corresponding user accounts and deferred revenue. Also see note 2q.

The Company does not have ownership over the funds and does not have the right to direct the funds to be used at will or for its own benefit other than those funds related to transaction and service fees owed to the Company.

q. Revenue:

The Company’s revenue is primarily comprised of transaction fees and service fees. The Company earn transaction fees for enabling orders and providing other services and service fees to cover administrative fees.

The Company’s revenue recognition accounting policy until January 1, 2019, prior to the adoption of the new revenue standard:

The Company recognizes revenue in accordance with ASC Topic 605 “Revenue Recognition” and related authoritative guidance. Revenue is recognized when all of the following criteria are met: (i) persuasive evidence of an arrangement exists; (ii) fees are fixed or determinable; (iii) the collection of the fees is reasonably assured and (iv) services have been rendered.

Revenues are recorded net of provisions for cancelations, which can be reasonably estimated, based on the Company’s historical experience and management’s expectations. The Company recognizes revenue from transaction fees and service fees upon the completion of each order.

The Company presents revenue in accordance with ASC Topic 605‑45, “Revenue Recognition-Principal Agent Considerations.” The determination of whether the Company is the principal or agent, and whether revenue should be presented on a gross basis for the amount billed or on a net basis for the amount earned from each transaction, requires the Company to evaluate a number of indicators. Revenue from transaction fees was recognized on a net basis since the Company has concluded that it acts as an agent, mainly since it does not take responsibility for the sellers’ services and therefore it is not the primary obligor in the transaction and does not have latitude in price establishment.

The Company recognizes revenue from unused user accounts balances once the likelihood of the users exercising their unused accounts balances becomes remote and the Company is not required to remit such unused account balances to a third party in accordance with applicable unclaimed property laws. The amounts recognized for the years ended December 31, 2018 and 2017 were immaterial.

The Company’s revenue recognition accounting policy from January 1, 2019, following the adoption of the new revenue standard:

On January 1, 2019, the Company adopted the new revenue standard to all contracts using the modified retrospective approach. There was no cumulative initial effect of applying the new revenue standard.

The Company’s customers are the users on its platform. Users accept the Company’s terms of service upon registration to the platform. Gross order amount including transaction and service fees is collected from the buyer upfront by a third-party payment provider. The prepaid amounts from buyers are simultaneously recorded as an asset under user funds with a corresponding liability to buyers under user accounts and deferred revenue until the order is completed or cancelled.

A contract with a customer exists only when: the parties to the contract have approved it and are committed to perform their respective obligations, the Company can identify each party’s rights regarding the distinct services to be transferred (“performance obligations”), the Company can determine the transaction price for the services to be transferred, the contract has commercial substance and it is probable that the Company will collect the consideration to which it will be entitled in exchange for the services that will be transferred to the customer.

The Company’s revenue is primarily comprised of one distinct performance obligation which is to arrange services to be provided (including communication, engagement and payment processing) on its marketplace platform by the sellers to the buyers.

The Company earns transaction fees and service fees that are based on the total value of transactions ordered through the platform once the buyer obtains control of the service, which occurs at a point in time upon completion of each order.

Revenue is recorded in the amount of consideration to which the Company expects to be entitled in exchange for performance obligations upon transfer of control to the customer, excluding amounts collected on behalf of other third parties and indirect taxes.

Revenue is mainly recognized on a net basis since the Company has concluded that it acts as an agent on its platform, mainly since it does not take responsibility for the sellers’ services and therefore it is not primary responsible for fulfilling the promise to provide the service and doesn’t have discretion in price establishment. Therefore, the Company does not obtain control of the services before they are transferred to the customer.

The Company elected to use the practical expedient and recognize the incremental costs of obtaining contracts as an expense since the amortization period of the assets that the Company otherwise would have recognized is one year or less. Similarly, the Company does not disclose the value of unsatisfied performance obligations since the original expected duration of the contracts is one year or less.

Revenue from subscription-based content marketing platform and back office platform are mainly recognized over time when the service is rendered to the customer.

Disaggregated revenue

The Company’s transaction fees for the years ended December 31, 2019, 2018 and 2017 were $78,074, $55,117 and $39,001, respectively.

The Company’s services fees for the years ended December 31, 2019, 2018 and 2017 were $28,999, $20,386 and $13,111, respectively.

Contract liabilities

The Company’s contract liabilities mainly consist of deferred revenues from transaction and service fees received in advance for services for which control has not been yet obtained by the customers.

The Company adopted the new revenue standard using the modified retrospective method without restating comparative periods and, as a result, the deferred revenues resulting from transaction and service fees owed to the Company were $3,248 as of December 31, 2019. For the year ended December 31, 2018, deferred revenue was included under user accounts.

r. Cost of revenue:

Cost of revenue is mainly comprised of server hosting fees, costs of the Company’s customer support personnel, amortization of capitalized internal-use software and developed technology, expenses related to payment processing companies’ fees and other.

s. Research and development expenses:

Research and development expenses are primarily comprised of costs of the Company’s research and development personnel and other development related expenses. Research and development costs are expensed as incurred, except to the extent that such costs are associated with internal-use software that qualifies for capitalization.

t. Sales and marketing expenses:

Sales and marketing expenses are primarily comprised of costs of the Company’s marketing personnel, performance marketing investments, branding costs, amortization of customer relationships and trade name and other advertising costs. Sales and marketing expenses are expensed as incurred.

Advertising costs were $41,341, $34,843 and $24,813 for the years ended December 31, 2019, 2018 and 2017, respectively.

u. General and administrative expenses:

General and administrative expenses primarily include costs of the Company’s executive, finance, legal and other administrative personnel, costs associated with fraud risk reduction and other. General and administrative expenses are expensed as incurred.

v. Share based compensation:

The Company accounts for share-based compensation in accordance with ASC Topic 718, “Compensation—Stock Compensation.” Share options and restricted share units (“RSU”) are mainly awarded to employees and members of the Company’s board of directors and measured at fair value at each grant date. The Company calculates the fair value of share options on the date of grant using the Black-Scholes option-pricing model and the expense is recognized over the requisite service period for awards expected to vest using the straight-line method. The Company recognizes the fair value of RSU on the grant date based on the market value of the underlying stock and the expense is recognized over the requisite service period for awards expected to vest using the straight-line method.

The requisite service period for share options is generally four years. The Company recognizes forfeitures as they occur.

The Black-Scholes option-pricing model requires the Company to make a number of assumptions, including the value of the Company’s ordinary shares, expected volatility, expected term, risk-free interest rate and expected dividends. The Company evaluates the assumptions used to value option awards upon each grant of share options.

Expected volatility was calculated based on the implied volatilities from market comparisons of certain publicly traded companies and other factors.

The expected option term was calculated based on the simplified method, which uses the midpoint between the vesting date and the contractual term, as the Company does not have sufficient historical data to develop an estimate based on participant behavior. The risk-free interest rate was based on the U.S. treasury bonds yield with an equivalent term. The Company has not paid dividends and has no foreseeable plans to pay dividends.

Commencing June 13, 2019, the Ordinary shares of the Company were publicly traded. Prior to the IPO, the fair value of ordinary shares underlying the options has historically been determined by management and approved by the Company’s board of directors. Because there has been no public market for the Company’s Ordinary shares, management has determined fair value of an Ordinary share at the time of grant of the option by considering a number of objective and subjective factors including financing investment rounds, operating and financial performance, the lack of liquidity of share capital and general and industry specific economic outlook, amongst other factors. The fair value of the underlying Ordinary shares was determined by the management until the IPO. The Company’s management determined the fair value of Ordinary shares based on valuations performed using the Option Pricing Method (“OPM”) and the Probability Weighted Expected Return Method (“PWERM”) subject to relevant facts and circumstances.

w. Income taxes:

The Company accounts for income taxes in accordance with ASC Topic 740, “Accounting for Income Taxes,” using the liability method. Under the liability method, deferred assets and liabilities are recognized based upon anticipated future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using the enacted tax rates that will be in effect for the years in which those tax assets are expected to be realized or settled.

The Company regularly assesses the likelihood that its deferred tax assets will be realized from recoverable income taxes or recovered from future taxable income based on the realization criteria set forth in the relevant authoritative guidance. To the extent the Company believes any amounts are not more likely than not to be realized, the Company records a valuation allowance to reduce its deferred tax assets. The realization of deferred tax assets is dependent upon future earnings, if any, the timing and amount of which are uncertain. Accordingly, the net deferred tax assets have been fully offset by a valuation allowance. If the Company subsequently realizes or determines it is more likely than not that it will realize deferred tax assets that were previously determined to be unrealizable, the respective valuation allowance would be reversed, resulting in an adjustment to earnings in the period such determination is made.

The Company recognizes potential liabilities based on its estimate of whether, and the extent to which, additional taxes will be due. These liabilities are established utilizing a two-step approach when the Company believes that certain positions might be challenged despite its belief that its tax return positions are fully supportable. The first step requires the Company to determine if the weight of available evidence indicates a tax position is more likely than not to be sustained upon audit. The second step is based on the largest amount of benefit, which is more likely than not to be realized on ultimate settlement.

Any interest and penalties related to unrecognized tax benefits are recorded as income tax expense. The Company adjusts these liabilities in light of changing facts and circumstances, such as the outcome of a tax audit or changes in the tax law.

x. Segment reporting:

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

y. Loss per share:

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

Basic and diluted net loss per share was presented in conformity with the two-class method for participating securities for the year ended December 31, 2019 as a result of a deemed dividend related to the issuance of Protected ordinary shares (see note 13). The Company did not declare any dividends since commencing operations, accordingly an application of the two-class method to compute loss per share would have no impact on the loss attributable to ordinary shares for the years ended December 31,2019, 2018 and 2017.

The potentially dilutive options to purchase ordinary shares that were excluded from the computation amounted to 4,578,542, 2,974,891 and 2,444,806 for the years ended December 31, 2019, 2018 and 2017, respectively, because including them would have been anti-dilutive.

z. Contingencies:

The Company accrues for loss contingencies when losses become probable and are reasonably estimable. If the reasonable estimate of the loss is a range and no amount within the range is a better estimate, the minimum amount of the range is recorded as a liability. The Company does not accrue for contingent losses that, in its judgment, are considered to be reasonably possible, but not probable; however, it discloses the range of such reasonably possible losses.

aa. Recently adopted accounting pronouncements:

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

In October 2016, the FASB issued ASU 2016‑16 Topic 740 “Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory.” The new guidance eliminates the exception to the recognition requirements under the standard for intra-entity transfers of an asset other than inventory. As a result, an entity should recognize the income tax consequences when the transfer of assets other than inventory occurs. The new guidance becomes effective for the Company for annual reporting periods beginning after December 15, 2018, and interim reporting periods within annual periods beginning after December 15, 2019, with early adoption permitted. The Company adopted this guidance in 2019 with no impact on its consolidated financial statements.

In May 2017, the FASB issued ASU 2017‑09, “Scope of Modification Accounting,” which provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. The new guidance is to be applied on a prospective basis, is effective for the annual and interim periods beginning after December 15, 2017 and early adoption is permitted. The Company adopted this guidance in 2018 with no material impact on its consolidated financial statements.

In August 2017, the FASB issued ASU 2017‑12, ASC Topic 815 “Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities,” which simplifies the application of the hedge accounting guidance and improves the financial reporting through changes to both designation and measurement for qualifying hedging relationships and the presentation of hedge results. Further, the new guidance allows more flexibility in the requirements to qualify and maintain hedge accounting. The standard will be effective for annual reporting periods beginning after December 15, 2020, and interim periods within fiscal years beginning after December 15, 2021. Early adoption is permitted. The Company early adopted this guidance in 2018. The Company’s derivatives and hedging activities were recorded in accordance with this guidance.

In May 2014, the FASB issued ASU 2014‑09 ASC Topic 606 “Revenue from Contracts with Customers.” The new guidance includes new comprehensive revenue recognition guidance which supersedes the current revenue recognition guidance including industry specific guidance. Under the new guidance, a good or service is transferred to the customer when (or as) the customer obtains control of the good or service. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. Other major provisions include capitalization of certain contract costs, consideration of the time value of money in the transaction price and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. In March, April and May 2016, the FASB issued three additional updates regarding identifying performance obligations and licensing, certain principal versus agent considerations and various narrow scope improvements based on practical questions raised by users. In September 2017, the FASB issued additional amendments providing clarification and implementation guidance. The guidance may be adopted through either retrospective application to all periods presented in the financial statements (full retrospective approach) or through a cumulative effect adjustment to retained earnings at the effective date (modified retrospective approach). The guidance is effective for the annual period beginning after December 15, 2018 and interim periods beginning after December 15, 2019. The Company adopted this guidance in 2019 using the modified retrospective approach with no impact on its revenue recognition practices nor a material accumulated impact following the adoption of the new guidance.

In January 2017, the FASB issued ASU 2017‑01, ASC Topic 805 “Business Combinations: Clarifying the Definition of a Business,” which provides a more robust framework to use in determining when a set of assets and activities is a business. Because the current definition of a business is interpreted broadly and can be difficult to apply, stakeholders indicated that analyzing transactions is inefficient and costly and that the definition does not permit the use of reasonable judgment. This standard is effective for annual reporting periods beginning after December 15, 2018, and interim reporting periods within annual periods beginning after December 15, 2019, with early adoption permitted. The Company adopted this guidance in 2019 with no impact on its consolidated financial statements.

In June 2018, the FASB issued ASU 2018‑07, ASC Topic 718 “Compensation—Stock Compensation: Improvement to Nonemployee Share-Based Payments Accounting.” This guidance simplifies the accounting for non-employee share-based payment transactions. The amendments specify that ASC Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. The guidance is effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted, but no earlier than an entity’s adoption date of ASC Topic 606. The Company early adopted this guidance in 2019 with no material impact on its consolidated financial statements.

Recently issued accounting pronouncements not yet adopted:

In February 2016, the FASB issued ASU 2016‑02, “Leases,” related to how an entity should recognize lease assets and lease liabilities. The guidance specifies that an entity that is a lessee under lease agreements should recognize lease assets and lease liabilities for those leases classified as operating leases under previous FASB guidance. Accounting for leases by lessors is largely unchanged under the new guidance. In September 2017, the FASB issued additional amendments providing clarification and implementation guidance. In January 2018, the FASB issued an update that permits an entity to elect an optional transition practical expedient to not evaluate land easements that existed or expired before the entity’s adoption of the new standard and that were not previously accounted for as leases. The provisions of ASU 2016‑02 are to be applied using a modified retrospective approach. In July 2018, the FASB issued an update, which provides entities with an additional (and optional) transition method to adopt the new leases standard. Under this method, an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Consequently, the prior comparative period’s financials will remain the same as those previously presented. The new standard becomes effective for the Company for fiscal years beginning after December 15, 2020, and interim periods within fiscal years beginning after December 15, 2021. The standard requires a modified retrospective adoption, with early adoption permitted. The Company is currently evaluating the impact of adopting this new guidance on its consolidated financial statements.

In June 2016, FASB issued ASU 2016‑13, Topic 326 “Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments”. ASU 2016‑13 amends the impairment model to utilize an expected loss methodology in place of the currently used incurred loss methodology, which will result in the timelier recognition of losses. The amendments in this update are effective for fiscal years beginning after December 31, 2020, and interim periods within fiscal years beginning after December 15, 2022. Early adoption is permitted. The Company is currently assessing the impact of the adoption of this standard on its consolidated financial statements.

In January 2017, the FASB issued ASU 2017‑04, ASC Topic 350 “Intangibles—Goodwill and Other: Simplifying the Test for Goodwill Impairment.” The standard eliminates the requirement to measure the implied fair value of goodwill by assigning the fair value of a reporting unit to all assets and liabilities within that unit (“the Step 2 test”) from the goodwill impairment test. Instead, if the carrying amount of a reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to that excess, limited by the amount of goodwill in that reporting unit. The standard will become effective for fiscal years beginning after December 15, 2022 and must be applied to any annual or interim goodwill impairment assessments after that date. Early adoption is permitted.

The Company is currently assessing the impact of the adoption of this standard on its consolidated financial statements.

In November 15, 2019, the FASB issued ASU 2019-10, 1 which (1) provides a framework to stagger effective dates for future major accounting standards and (2) amends the effective dates for certain major new accounting standards to give implementation relief to certain types of entities. Specifically, ASU 2019-10 changes some effective dates for certain new standards on the following topics in the FASB Accounting Standards Codification (ASC): Topic 815 “Derivatives and Hedging,” Topic 842 “Leases,” Topic 326 “Financial Instruments — Credit Losses,” Topic 350 “Intangibles — Goodwill and Other.”

Certain transactions

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Certain transactions

Note 3: —Certain transactions

And Co. acquisition:

In January 2018, the Company acquired all of the outstanding shares of And Co. Ventures Inc. (“And Co.”), a company that offers a platform for online back office service to assist freelancers with invoicing, contracts, proposals, expense tracking, time tracking and task management. The total consideration of the purchase was $3,250 in cash, out of which $500 was placed in escrow, and an additional amount of $1,640 in issuance of A3 protected ordinary shares. In March 2019 the Company issued 9,606 A3 protected ordinary shares for an aggregate amount of $215 to the founders of And Co. at a share price of $22.41, paid from the amount placed in escrow according to the acquisition agreement.

The results of operations of And Co. were consolidated in the Company’s financial statements commencing the date of acquisition. The agreement stipulated additional compensation in the amount of $566, subject to the continuing employment to the founders of And Co. and $1,125 signing bonus to certain employees, out of which the Company recorded $ 211 and $1,500 under operating expenses for the years ended December 31, 2019 and 2018 respectively.

The table below summarizes the fair value of the acquired assets and assumed liabilities and the resulting goodwill as of the acquisition date:


Cash	$	574
Deposit(1)		20
Other(1)		9
Developed technology(2)		1,320
Customer relationships(3)		1,060
Trade name(4)		610
Goodwill(5)		1,381
Total acquired assets		4,974
Accrued expenses and other(1)		84
Total assumed liabilities		84
Net assets acquired	$	4,890

(1)

As of the acquisition date fair value approximated the book value.

(2)

The estimated amortization period of developed technology is five years.

(3)

The estimated amortization period of customer relationships is three years.

(4)

The estimated amortization period of trade name is ten years.

(5)

Goodwill is largely attributable to expected synergies following the acquisition, as well as future economic benefits arising from other assets acquired that could not be separately recognized at this time. Goodwill is not deductible for tax purposes.

The Company incurred approximately $64 in acquisition expenses which were recorded under general and administrative expenses in the year ended December 31, 2018.

Pro forma results of operations related to this acquisition have not been presented because they are not material to the Company’s consolidated statements of operations.

b. ClearVoice acquisition:

In February 2019, the Company acquired all of the outstanding shares of ClearVoice, Inc. ("ClearVoice"), a subscription-based content marketing platform for a cash amount of $11,786 out of which $3,500 was placed in escrow to be released within one to two years under certain conditions.

The results of operations of ClearVoice were consolidated in the Company’s financial statements commencing the date of acquisition. The cash paid included $1,450 retention bonus subject to the continuing employment of the founders of ClearVoice, recorded under other receivables, out of which the Company recorded $1,329 under operating expenses for the year ended December 31, 2019.

The agreement stipulated additional contingent payments to shareholders of ClearVoice in an aggregate amount of up to $8,000 subject to certain milestones to be paid over a three-year period. The fair-value of the contingent consideration as of the acquisition date was $4,240 and measured based on the estimated future cash outflows, utilizing the Monte Carlo simulation. As of December 31, 2019, $3,888 and $2,439 was recorded under other account payables and accrued expenses and long-term loan and other non-current liabilities, respectively.

The following table summarizes the fair value of the consideration transferred to ClearVoice shareholders:


Cash paid	$	11,786
Fair-value of contingent consideration		4,240
Retention bonus		(1,450)
Total fair value of consideration transferred	$	14,576

The table below summarizes the fair value of the acquired assets and assumed liabilities and the resulting goodwill as of the acquisition date:


Cash	$	369
Accounts receivables and other receivables(1)		523
Developed technology(2)		2,600
Customer relationships(3)		1,600
Trade name(4)		560
Goodwill(5)		9,859
Total acquired assets		15,511
Trade payable(1)		91
Accrued expenses and other payables(1)		844
Total assumed liabilities		935
Net assets acquired	$	14,576

(1)

As of the acquisition date fair value approximated the book value.

(2)

The estimated amortization period of developed technology is five years.

(3)

The estimated amortization period of customer relationships is three years.

(4)

The estimated amortization period of trade name is five years.

(5)

The Company incurred approximately $183 in acquisition expenses which were recorded under general and administrative expenses for the year ended December 31, 2019.

Pro forma results of operations related to this acquisition have not been presented because they are not material to the Company’s consolidated statements of operations.

Other transactions:

In April 2014, the Company entered into a $5,000 credit line agreement, which expired at the end of 2014. According to which, the Company granted 6,401 warrants to purchase A1 protected ordinary shares at an exercise price of $4.88 per share. The warrants were exchanged into warrants to purchase ordinary shares upon the adoption of the Company’s amended and restated articles of association immediately prior to the closing of an IPO. In the third quarter of 2019 the warrants were exercised into 5,166 ordinary shares in a cashless mechanism.

In April 2018, the Company was provided with a credit facility, according to which a total amount of $30,000 was available for future utilization. The credit facility expired on June 30, 2019. The Company did not borrow any amounts under the credit facility.

Fair value of financial instruments

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Fair value of financial instruments

Note 4: —Fair value of financial instruments

The following tables set forth the fair value of the Company’s financial assets and liabilities measured at fair value as of:


	December 31, 2019
	Level 1		Level 2		Level 3
Cash and cash equivalents:
Cash	$	21,289	$	—	$	—
Deposits		2,882		—		—
Bank Deposits		15,000		—		—
Restricted deposits		3,492		—		—
Investment in marketable securities		—		110,364		—
Derivatives		—		179		—
Contingent consideration		—		—		(6,327)
	$	42,663	$	110,543	$	(6,327)


	December 31, 2018
	Level 1		Level 2		Level 3
Cash and cash equivalents:
Cash	$	15,850	$	—	$	—
Deposits		40,105		—		—
Restricted deposits		3,518		—		—
Derivatives		—		(598)		—
	$	59,473	$	(598)	$	—

The fair value of other financial instruments included in working capital and other non-current assets and liabilities approximate their carrying value.

The following table sets forth a summary of the changes in the fair value of the contingent consideration:


Fair value as of December 31, 2018	$	—
Acquisition of ClearVoice		(4,240)
Change in fair value		(2,087)
Fair value as of December 31, 2019	$	(6,327)

Investment in marketable securities

12 Months Ended

Dec. 31, 2019

Investment in marketable securities

Investment in marketable securities

Note 5: Investment in marketable securities

As of December 31, 2019, the amortized cost, unrealized holding gains and losses and fair value of such securities were as follows:


	Amortized		Unrealized		Unrealized
	Cost		gains		losses		Fair Value
December 31, 2019
U.S. treasury bonds	$	75,340	$	76	$	—	$	75,416
Corporate bonds		34,965		—		(17)		34,948
Total	$	110,305	$	76	$	(17)	$	110,364

As of December 31, 2018, the Company did not have any investment in marketable securities.

The following table summarizes the fair value and amortized cost of the available-for-sale securities by contractual maturity as of December 31, 2019:


	Amortized
	Cost		Fair Value
Due within one year	$	88,487	$	88,559
Due after one year through two years		21,818		21,805
Total	$	110,305	$	110,364

Property and equipment, net

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property and equipment, net

Note 6: —Property and equipment, net

Property and equipment, net consisted of the following as of:


	December 31,
	2019		2018
Leasehold improvements	$	5,162	$	4,981
Computers and peripheral equipment		2,121		1,333
Office furniture and equipment		1,071		952
		8,354		7,266
Less—accumulated depreciation		(3,033)		(2,123)
	$	5,321	$	5,143

Depreciation expenses were $920, $820 and $740 for the years ended December 31, 2019, 2018 and 2017, respectively.

Intangible assets, net

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets, net

Note 7: —Intangible assets, net

Intangible assets, net consisted of the following as of:


	December 31,
	2019		2018
Developed technology	$	3,920	$	1,320
Capitalized internal-use software		4,019		3,005
Customer relationships		2,660		1,060
Trade name		1,170		610
		11,769		5,995
Less—accumulated amortization		(4,581)		(1,930)
	$	7,188	$	4,065

In connection with internal-use software, the Company capitalized $ 1,014, $789 and $1,337 for the years ended December 31, 2019, 2018 and 2017 respectively. The capitalized amount included stock-based compensation of $110, $11 and $32 for the years ended December 31, 2019, 2018 and 2017, respectively.

Amortization expenses amounted to $2,651, $1,430 and $350 for the years ended December 31, 2019, 2018 and 2017, respectively.

The estimated future amortization of intangible assets as of December 31, 2019 was as follows:


2020	$	2,829
2021		2,021
2022		1,311
2023		723
2024 and thereafter		304
	$	7,188

Derivatives and hedging

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and hedging

Note 8: —Derivatives and hedging

The Company entered into forward contracts to hedge certain forecasted payments denominated in NIS, mainly payroll and rent, against exchange rate fluctuations of the U.S. dollar for a period of up to twelve months. The Company recorded the cash flows associated with these derivatives under operating activities.

The Company had outstanding forward contracts designated as hedging instruments in the aggregate notional amount of $7,500 and $20,400 as of December 31, 2019 and 2018, respectively. The fair value of the Company’s outstanding forward contracts amounted to an asset of $179 and a liability of $598 as of December 31, 2019 and 2018 respectively, recorded under other receivables and accrued expenses respectively. Gains of $261 and losses of $327 were reclassified from accumulated other comprehensive loss (income) during the years ended December 31, 2019 and 2018 respectively. Such gains and losses were reclassified from accumulated other comprehensive loss when the related expenses were incurred. These losses were recorded in the consolidated statements of operations were as follows:


	Year ended
	December 31,
	2019		2018		2017
Cost of revenue	$	(17)	$	23	$	—
Research and development		(142)		173		—
Sales and marketing		(59)		60		—
General and administrative		(43)		71		—
	$	(261)	$	327	$	—

Other account payables and accrued expenses

12 Months Ended

Dec. 31, 2019

Payables and Accruals [Abstract]

Other account payables and accrued expenses

Note 9: —Other account payables and accrued expenses

Other payable and accrued expenses consisted of the following as of:


	December 31,
	2019		2018
Accrued employee and government authorities	$	8,677	$	5,043
Accrued expenses and other		8,808		4,467
Contingent consideration		3,888		—
Derivatives		—		598
Other		53		123
	$	21,426	$	10,231

Commitments and contingencies

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and contingencies

Note 10: —Commitments and contingencies

Lease commitments:

The Company leases office spaces under non-cancelable operating lease agreements that expire through July 2023. The operating lease for the Company’s office space in Israel expires on December 2021 and contains a five-year renewal option, which the Company expects to utilize. The Company recognizes rent expenses on a straight-line basis over the lease term. The Company’s net rent expenses were $2,373, $1,732 and $1,273 for the years ended December 31, 2019, 2018 and 2017, respectively. In 2016, the Company entered into a non-cancelable agreement to sublease a portion of its Israel office space and recognized a sublease income of $931, $1,367 and $1,481 for the years ended December 31, 2019, 2018 and 2017, respectively, under operating expenses.

The future minimum lease payments under non-cancelable lease agreements as of December 31, 2019 were as follows:


2020	$	3,230
2021		3,160
2022		3,149
2023		2,702
2024 and after		6,762
	$	19,003

b. Legal contingencies:

The Company is currently not involved in any material claims or legal proceedings. The Company reviews the status of each legal matter it is involved in, from time to time, in the ordinary course of business and assesses its potential financial exposure.

Long term loan and other non-current liabilities

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Long term loan and other non-current liabilities

Note 11: —Long term loan and other non-current liabilities

Long-term loan and other long-term liabilities consisted of the following as of:


	December 31,
	2019		2018
Long-term loan less current maturities of long-term loan	$	2,535	$	2,792
Contingent consideration		2,439		—
Accrued rent		454		364
Accrual for uncertain tax positions		184		124
	$	5,612	$	3,280

As part of the lease agreement (see note 10), the lessor agreed to finance an amount of $3,963 out of the total cost of leasehold improvements in the office space. The loan is indexed to the consumer price index and bears an effective interest rate of 4.2%. The loan is paid over a period of ten years and is not subject to financial covenants.

The future payments of long-term loan as of December 31, 2019 were as follows:


2020	$	504
2021		526
2022		381
2023		382
2024 and after		1,245
	$	3,038

Financial income, net

12 Months Ended

Dec. 31, 2019

Financial expense (income), net

Financial expense (income), net

Note 12 – Financial income, net


	Year ended December 31,
	2019		2018		2017

Bank charges and other financial expenses	$	323	$	400	$	209
Exchange rate loss (gain), net		195		(163)		(140)
Interest income		(1,889)		(645)		(562)
	$	(1,371)	$	(408)	$	(493)

Shareholders' equity

12 Months Ended

Dec. 31, 2019

Stockholders' Equity Note [Abstract]

Shareholders' equity

Note 13: — Shareholders' equity

The Company’s board of directors and the Company’s shareholders approved a 1‑for 6.69 reverse share split of the Company’s Ordinary shares and Protected ordinary shares during the second quarter of 2019. As a result of the reverse share split, (i) every 6.69 authorized, issued and outstanding Ordinary share or Protected ordinary share was decreased to one share of authorized, issued and outstanding Ordinary share or Protected ordinary share, (ii) the number of Ordinary shares into which each outstanding warrant or option to purchase an ordinary share is exercisable was proportionally decreased on a 1‑for 6.69 basis, and (iii) all share prices and exercise prices were proportionally increased. All Ordinary shares and Protected ordinary shares, options, warrants, exercise prices, per share data and loss per share amounts have been adjusted retroactively for all periods presented in these financial statements to reflect the 1‑for 6.69 reverse share split.

The number of authorized shares as of December 31, 2019 and 2018 was 75,000,000 and 31,390,135, respectively.

Ordinary shares and Protected ordinary shares:

Immediately prior to the closing of the IPO 18,654,270 Protected ordinary shares were exchanged for Ordinary shares upon the adoption of the Company’s amended and restated articles of association.

Ordinary shares and Protected ordinary shares issued and outstanding consisted of the following as of:


	December 31,
	2019	2018
A1 protected ordinary shares	—	8,492,054
A2 protected ordinary shares	—	4,302,386
A3 protected ordinary shares	—	3,350,038
A4 protected ordinary shares	—	2,317,434
Ordinary shares	31,937,772	7,063,458
	31,937,772	25,525,370

Holders of Ordinary shares and Protected ordinary shares are entitled to one vote per share and dividends whenever funds are legally available and when, as, and if declared by the Company’s board of directors.

In November 2018, the Company issued 2,317,434 A4 Protected ordinary shares for an aggregate net amount of $52,995 from a new investor and certain existing investors at a share price of $22.88.

In February 2019, the Company issued 182,752 A4 Protected ordinary shares for an aggregate amount of $4,125, net of $60 issuance cost, to an existing investor at a share price of $22.88. This transaction was an extension of the November 2018 issuance of A4 Protected ordinary shares. Since all of the Protected ordinary shares purchased were issued to an existing investor, the incremental value between the share price and the fair value of the A4 Protected ordinary shares was accounted for as a deemed dividend in the amount of $632, which was recorded in the consolidated statements of changes in shareholders’ equity as an increase in share capital and additional paid-in capital with a corresponding increase in the accumulated deficit.

d. Share based compensation:

In 2011, the board of directors adopted the 2011 share option plan for employees, officers, directors and consultants (the “2011 Plan"). Each option granted under the 2011 Plan expires no later than ten years from the date of grant. The vesting period of the options is generally four years. As of December 31, 2019, the Company is no longer granting any awards under the 2011 Plan.

In 2019, the board of directors adopted the 2019 share incentive plan (the “2019 Plan”) for employees, officers, directors and consultants. The 2019 Plan provides for the grant of stock options (including incentive stock options and non-qualified stock options), Ordinary shares, restricted shares, restricted share units and other share-based awards. Ordinary shares subject to the 2011 Plan that expire or become exercisable without having been exercised in full, would become available again for future grant under the 2019 Plan.

Each option granted under the 2019 Plan expires no later than seven years from the date of grant. The vesting period of the options is generally four years.

As of December 31, 2019, the number of Ordinary shares reserved and available for grant and issuance pursuant to the 2011 Plan and 2019 Plan was 4,862,550 ordinary shares. As of December 31, 2019, the total of Ordinary shares available for future grants was 284,008.

As of December 31, 2018, the total of ordinary shares available for future grants was 12,006.

Status of options

The following table summarizes the status of the options as of and for:


	December 31, 2019
			Weighted-
			average
		Weighted-	remaining
		average	contractual
	Number of	exercise	term
	options	price	(in years)
Outstanding at the beginning of the year	2,974,891	5.86	8.32
Granted	1,829,455	16.87
Exercised	(161,398)	5.37
Forfeited	(182,659)	11.07
Outstanding at the end of the year	4,460,289	9.93	8.07
Exercisable at the end of the year	1,662,729	5.70	6.85

The weighted-average grant-date fair value of options granted was $11.99, $1.27 and $0.40 per share for the years ended December 31, 2019, 2018 and 2017, respectively.

The fair value of these options was estimated on the grant date based on the following weighted average assumptions for:


	Year ended
	December 31,
	2019		2018		2017
Volatility	50	%	45% – 50	%	51% – 56	%
Expected term in years	5.0 – 6.11		5.25 – 6.25		6.25
Risk-free interest rate	1.52% – 2.59	%	2.0% – 3.07	%	2.0% – 2.4	%
Estimated fair value of underlying ordinary shares	12.8 – 22.64		8.69 – 18.47		4.75 – 5.56
Dividend yield	0	%	0	%	0	%

The options outstanding under the 2011 plan and 2011 sub-plan as of December 31, 2019 have been separated into exercise price groups as follows:


	Outstanding			Exercisable
			Weighted			Weighted
			average			average
			remaining			remaining
		Number of	contractual	Number of		contractual
Exercise price		options	life (in years)	options		life (years)
$0.00-$0.33		157,655	8.64		45,546	7.78
$1.61- $2.01		449,173	4.58		449,173	4.58
$4.48- $5.55		1,482,296	7.63		880,095	7.38
$8.70- $10.84		324,749	8.22		111,809	7.77
$12.78- $18.46		1,475,433	8.97		93,148	8.86
$21.81-$24.79		570,983	9.41		82,958	9.47
		4,460,289	8.07		1,662,729	6.85
Aggregate intrinsic value	$	60,513		$	29,601

Intrinsic value represents the potential amount receivable by the option holders had all option holders exercised their options as of such date.

The aggregate intrinsic value of the exercised options was $2,715, $5,716 and $593 for the years ended December 31, 2019, 2018 and 2017, respectively.

The grant-date fair value of vested options was $5,768, $972 and $501 for the years ended December 31, 2019, 2018 and 2017, respectively.

The total unrecognized compensation cost as of December 31, 2019 was $26,227, which will be recognized over a weighted-average period of 2.91 years.

Status of RSU

The following table summarizes the status of RSU as of and for:


	December 31, 2019
		Weighted-
	Number of	average
	RSU	grant date fair value
Outstanding at the beginning of the year	—	—
Granted	124,727	22.95
Vested	(849)	23.14
Forfeited	(5,625)	23.03
Outstanding at the end of the year	118,253	22.95

Stock-based compensation costs which include options and RSU included in the consolidated statements of operations were as follows:


	Year ended
	December 31,
	2019		2018		2017
Cost of revenue	$	142	$	12	$	20
Research and development		3,197		731		286
Sales and marketing		1,853		1,480		836
General and administrative		3,707		9,425		261
	$	8,899	$	11,648	$	1,403

e. Secondary market transactions:

During 2018, certain ordinary shareholders (including employees or former employees and certain directors of the Company) sold the Company’s Ordinary shares in secondary market transactions to an existing investor of the Company. They sold an aggregate amount of 679,762 Ordinary shares for an aggregate consideration of $15,000 at an average price of $21.41‑$22.41 per share. The incremental value between the sale price and the fair value of the Ordinary shares at each date of sale resulted in aggregate stock-based compensation cost of $9,187 for the year ended December 31, 2018, recorded under operating expenses.

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

Note 14: —Income taxes

Loss before income taxes:

The following are the domestic and foreign components of the Company’s loss before income taxes:


	Year ended
	December 31,
	2019		2018		2017
Domestic	$	(27,916)	$	(32,688)	$	(18,858)
Foreign		(5,463)		(3,373)		(172)
	$	(33,379)	$	(36,061)	$	(19,030)

b. Income taxes:

The following are the domestic and foreign components of the Company’s income taxes:


	Year ended
	December 31,
	2019		2018		2017
Domestic	$	—	$	—	$	—
Foreign		160		—		294
	$	160	$	—	$	294

The reconciliation of the tax benefit at the Israeli statutory tax rate to the Company’s income taxes is as follows:


	Year ended
	December 31,
	2019			2018			2017
Loss before income taxes	$	(33,379)		$	(36,061)		$	(19,030)
Statutory tax rate		23	%		23	%		24	%
Theoretical tax benefit		7,677			8,294			4,567
Increase (decrease) in effective tax rate due to:
Change in valuation allowance		(4,872)			(5,822)			(5,431)
Effect of entities with different tax rates		38			(56)			25
Non-deductible expenses		(3,015)			(2,736)			(474)
Impact of change in statutory tax rate for future periods		—			—			(248)
Impact of exchange rate on temporary differences		—			—			1,321
Deductible expense		4			569			—
Other		8			(249)			(54)
Effective income taxes	$	(160)		$	—		$	(294)

Net operating loss carryforward:

As of December 31, 2019, the Company had an indefinite net operating loss (“NOL”) carryforward for Israeli tax purposes of approximately $94,147. These NOL carryforwards can be carried forward and offset against taxable income. The Company also had a NOL carryforward for U.S. tax purposes of approximately $10,313 as of December 31, 2019. Federal NOLs generated in the years ended December 31, 2014 through 2017 will begin to expire in 2035 for federal income tax purposes. NOLs originating before January 1, 2018, are eligible to offset taxable income, if not otherwise limited under Internal Revenue Code (“IRC”) 382 limitations. NOLs generated after December 31, 2017, have an infinite carryforward period and subject to 80% deduction limitation based upon pre-NOL deduction taxable income. All NOLs are expected to be subject to certain limitations under 382 following that change in control that occurred upon acquisition of both ClearVoice and And.Co, respectively.

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.

The principal components of the Company’s deferred tax assets are as follows:


	2019		2018
Deferred tax assets, net:
Research and development expenses and other	$	7,102	$	5,595
Intangible assets from acquisition of business and other		23		(203)
Net operating loss carryforwards*		24,026		20,104
	$	31,151	$	25,496
Less—valuation allowance in respect of net operating loss carryforwards		(31,151)		(25,496)
Total deferred tax assets, net	$	—	$	—

Based on the available evidence, management believes that it is more likely than not that certain of its deferred tax assets relating to net operating loss carryforwards and other temporary differences will not be realized and accordingly, a valuation allowance has been provided.

As of December 31, 2019, and 2018, the Company has not provided a deferred tax liability in respect of cumulative undistributed earnings relating to the Company’s foreign subsidiaries, as the Company intends to keep these earnings permanently invested.

e. Tax assessments:

As of December 31, 2019, the Company had open tax years for the periods between 2014 and 2018 in Israel and for the periods between 2016 and 2018 for the U.S. subsidiary. The Company has NOL’s in the US from prior tax periods which may be subject to examination in future periods.

f. Basis of taxation:

The Israeli corporate tax rate was 23% for the years ended December 31, 2019 and 2018. For the year ended December 31, 2017, the Israeli corporate tax rate was 24%.

The Company has elected 2012 to be its election year to be eligible for "Beneficiary Enterprise" standing under amendment No. 60 to tax benefits section No. 51 to the Law for the Encouragement of Capital Investments, 1959 (the "Law").

Pursuant to the provisions of the Law, in the event that the Company is profitable for tax purposes, the Company’s undistributed income will be tax-exempt for a period of two years beginning from the year in which taxable income is first earned. In the remaining years of benefits (between three to eight years, depending on the level of non-Israeli investments), the Company will be liable to reduced corporate tax at the rate of 10% to 25%, based on the percentage of foreign ownership.

Any income derived from sources other than from the Beneficiary Enterprise is subject to the statutory corporate tax rate.

The period of tax benefits described above is subject to limits of 12 years from the commencement of production, or 14 years from the approval date, whichever is earlier.

The entitlement to the above benefits is conditional upon the Company’s fulfilling the conditions stipulated by the Law, regulations published there under and the letters of approval for the specific investments in "Beneficiary Enterprise." 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.

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 No. 73 to the Law for the Encouragement of Capital Investments (the "2017 Amendment") which reduces the corporate income tax rate to 24% (instead of 25%) effective from January 1, 2017 and to 23% effective from January 1, 2018. In addition, according to the 2017 Amendment, a preferred enterprise located in development area A will be subject to a tax rate of 7.5% instead of 9% effective from January 1, 2017 and thereafter (the tax rate applicable to preferred enterprises located in other areas remains at 16%).

In December 2016, pursuant to amendment No. 73 to the law, the tax rate on preferred Technological Enterprise income was reduced to 12%. This amendment became effective in January 2017. The Company is currently evaluating the scope of the amendment.

On December 22, 2017, the Tax Cuts and Jobs Act (the "Act") was enacted into law. The new legislation represents fundamental and dramatic modifications to the U.S. tax system. The Act contains several key tax provisions that will impact the Company’s U.S. subsidiaries, including the reduction of the maximum U.S. federal corporate income tax rate from 35% to 21%, effective January 1, 2018. Other significant changes under the Act include, among others, a one-time repatriation tax on accumulated foreign earnings, a limitation of net operating loss deduction to 80% of taxable income, and indefinite carryover of post‑2017 net operating losses. The Act also repeals the corporate alternative minimum tax for tax years beginning after December 31, 2017. Losses generated prior to January 1, 2018 will still be subject to the 20‑year carryforward limitation and the alternative minimum tax. Other potential impacts due to the Act include the repeal of the domestic manufacturing deduction, modification of taxation of controlled foreign corporations, a base erosion anti-abuse tax, modification of interest expense limitation rules, modification of limitation on deductibility of excessive executive compensation, and taxation of global intangible low-taxed income.

The Company has evaluated the effect of the adoption of the Act on its financial statements and adjusted accordingly its tax rate for 2018, therefore the impact of the change of the tax rate on the deferred tax assets, net was recorded in 2017.

Segment and geographic information

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment and geographic information

Note 15: —Segment and geographic information

Revenue attributable to the Company’s domicile and other geographic areas based on the location of the buyers was as follows:


	Year ended
	December 31,
	2019		2018		2017
U.S.	$	57,938	$	40,529	$	28,261
Europe		25,181		15,265		10,141
Asia Pacific		13,356		11,076		7,838
Rest of the world		9,374		7,477		5,155
Israel		1,224		1,156		717
	$	107,073	$	75,503	$	52,112

Property and equipment by geographical areas were as follows:


	December 31,
	2019		2018
Israel	$	4,961	$	4,800
U.S. and other		360		343
	$	5,321	$	5,143

Significant accounting policies (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Use of estimates

Use of estimates:

Principles of consolidation

b. Principles of consolidation:

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

Functional currency

c. Functional currency:

Cash and cash equivalents

d. Cash and cash equivalents:

The Company considers all investments with an original maturity of three months or less at the time of purchase to be cash equivalents including amounts related to payment processing companies.

Marketable securities

e. Marketable securities:

No impairment was recorded for the year ended December 31, 2019.

Also see note 5.

Bank deposits

f. Bank deposits:

Deposits with maturities of more than three months but less than one year are classified as short term. Such deposits are presented at their costs including accrued interest.

Restricted deposits

g. Restricted deposit:

Property and equipment, net

h. Property and equipment, net:


		%
Computers and peripheral equipment		33
Office furniture and equipment		7 – 15
Leasehold improvements		The shorter of the term of the lease or useful life of the asset

Internal-use software

Internal-use software:

Capitalized internal-use software costs are recorded under intangible assets.

Business combinations

j. Business combinations:

Acquisition related costs incurred by the Company are not included as a component of consideration transferred but are accounted for as an expense in the period in which the costs are incurred.

Goodwill and other purchased intangible assets

k. Goodwill and other purchased intangible assets:

Derivatives and hedging

l. Derivatives and hedging:

Fair value of financial instruments

m. Fair value of financial instruments:

Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs.

The accounting standard establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described below:

Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.

Level 2: Observable inputs that are based on inputs not quoted on active markets but corroborated by market data.

Level 3: Unobservable inputs are used when little or no market data is available.

Concentrations of credit risks

n. Concentrations of credit risks:

The Company does not have significant off-balance sheet concentration of credit risks.

Employee related obligations

o. Employee related obligations:

User funds and user accounts

p. User funds and user accounts:

Revenue

q. Revenue:

The Company’s revenue recognition accounting policy until January 1, 2019, prior to the adoption of the new revenue standard:

The Company’s revenue recognition accounting policy from January 1, 2019, following the adoption of the new revenue standard:

Revenue from subscription-based content marketing platform and back office platform are mainly recognized over time when the service is rendered to the customer.

Disaggregated revenue

The Company’s transaction fees for the years ended December 31, 2019, 2018 and 2017 were $78,074, $55,117 and $39,001, respectively.

The Company’s services fees for the years ended December 31, 2019, 2018 and 2017 were $28,999, $20,386 and $13,111, respectively.

Contract liabilities

Cost of revenue

r. Cost of revenue:

Research and development expenses

s. Research and development expenses:

Sales and marketing expenses

t. Sales and marketing expenses:

Advertising costs were $41,341, $34,843 and $24,813 for the years ended December 31, 2019, 2018 and 2017, respectively.

General and administrative expenses

u. General and administrative expenses:

Share based compensation

v. Share based compensation:

The requisite service period for share options is generally four years. The Company recognizes forfeitures as they occur.

Expected volatility was calculated based on the implied volatilities from market comparisons of certain publicly traded companies and other factors.

Income taxes

w. Income taxes:

Segment reporting

x. Segment reporting:

Loss per share

y. Loss per share:

Contingencies

z. Contingencies:

Recently Adopted Accounting Standards

aa. Recently adopted accounting pronouncements:

Recently issued accounting pronouncements not yet adopted

Recently issued accounting pronouncements not yet adopted:

The Company is currently assessing the impact of the adoption of this standard on its consolidated financial statements.

Significant accounting policies (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Schedule of Percentage of Depreciation of Property and Equipment, Net


		%
Computers and peripheral equipment		33
Office furniture and equipment		7 – 15
Leasehold improvements		The shorter of the term of the lease or useful life of the asset

Certain transactions (Tables)

12 Months Ended

Dec. 31, 2019

And Co. Ventures Inc

Schedule of Fair Value of Acquired Assets and Assumed Liabilities


Cash	$	574
Deposit(1)		20
Other(1)		9
Developed technology(2)		1,320
Customer relationships(3)		1,060
Trade name(4)		610
Goodwill(5)		1,381
Total acquired assets		4,974
Accrued expenses and other(1)		84
Total assumed liabilities		84
Net assets acquired	$	4,890

(1)

As of the acquisition date fair value approximated the book value.

(2)

The estimated amortization period of developed technology is five years.

(3)

The estimated amortization period of customer relationships is three years.

(4)

The estimated amortization period of trade name is ten years.

(5)

Clear Voice, Inc.

Schedule of Fair Value of Acquired Assets and Assumed Liabilities


Cash	$	369
Accounts receivables and other receivables(1)		523
Developed technology(2)		2,600
Customer relationships(3)		1,600
Trade name(4)		560
Goodwill(5)		9,859
Total acquired assets		15,511
Trade payable(1)		91
Accrued expenses and other payables(1)		844
Total assumed liabilities		935
Net assets acquired	$	14,576

(1)

As of the acquisition date fair value approximated the book value.

(2)

The estimated amortization period of developed technology is five years.

(3)

The estimated amortization period of customer relationships is three years.

(4)

The estimated amortization period of trade name is five years.

(5)

Schedule of Fair Value of Consideration Transferred


Cash paid	$	11,786
Fair-value of contingent consideration		4,240
Retention bonus		(1,450)
Total fair value of consideration transferred	$	14,576

Fair value of financial instruments (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Financial assets and liabilities Measurement


	December 31, 2019
	Level 1		Level 2		Level 3
Cash and cash equivalents:
Cash	$	21,289	$	—	$	—
Deposits		2,882		—		—
Bank Deposits		15,000		—		—
Restricted deposits		3,492		—		—
Investment in marketable securities		—		110,364		—
Derivatives		—		179		—
Contingent consideration		—		—		(6,327)
	$	42,663	$	110,543	$	(6,327)


	December 31, 2018
	Level 1		Level 2		Level 3
Cash and cash equivalents:
Cash	$	15,850	$	—	$	—
Deposits		40,105		—		—
Restricted deposits		3,518		—		—
Derivatives		—		(598)		—
	$	59,473	$	(598)	$	—

Summary of Changes in Fair Value of Contingent Consideration


Fair value as of December 31, 2018	$	—
Acquisition of ClearVoice		(4,240)
Change in fair value		(2,087)
Fair value as of December 31, 2019	$	(6,327)

Investment in marketable securities (Tables)

12 Months Ended

Dec. 31, 2019

Investment in marketable securities

Schedule of fair value, amortized cost and unrealized holding gains and losses of marketable securities


	Amortized		Unrealized		Unrealized
	Cost		gains		losses		Fair Value
December 31, 2019
U.S. treasury bonds	$	75,340	$	76	$	—	$	75,416
Corporate bonds		34,965		—		(17)		34,948
Total	$	110,305	$	76	$	(17)	$	110,364

Schedule of fair value and amortized cost of the available-for-sale securities by contractual maturity


	Amortized
	Cost		Fair Value
Due within one year	$	88,487	$	88,559
Due after one year through two years		21,818		21,805
Total	$	110,305	$	110,364

Property and equipment, net (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Schedule of Property and equipment, net


	December 31,
	2019		2018
Leasehold improvements	$	5,162	$	4,981
Computers and peripheral equipment		2,121		1,333
Office furniture and equipment		1,071		952
		8,354		7,266
Less—accumulated depreciation		(3,033)		(2,123)
	$	5,321	$	5,143

Intangible assets, net (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible assets


	December 31,
	2019		2018
Developed technology	$	3,920	$	1,320
Capitalized internal-use software		4,019		3,005
Customer relationships		2,660		1,060
Trade name		1,170		610
		11,769		5,995
Less—accumulated amortization		(4,581)		(1,930)
	$	7,188	$	4,065

Schedule of Estimated Future Amortization Expense


2020	$	2,829
2021		2,021
2022		1,311
2023		723
2024 and thereafter		304
	$	7,188

Derivatives and hedging (Table)

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Gains and Losses Reclassified From Accumulated Other Comprehensive Loss to Statements of Operations


	Year ended
	December 31,
	2019		2018		2017
Cost of revenue	$	(17)	$	23	$	—
Research and development		(142)		173		—
Sales and marketing		(59)		60		—
General and administrative		(43)		71		—
	$	(261)	$	327	$	—

Other account payables and accrued expenses (Table)

12 Months Ended

Dec. 31, 2019

Payables and Accruals [Abstract]

Schedule of Other Payable and Accrued Expenses


	December 31,
	2019		2018
Accrued employee and government authorities	$	8,677	$	5,043
Accrued expenses and other		8,808		4,467
Contingent consideration		3,888		—
Derivatives		—		598
Other		53		123
	$	21,426	$	10,231

Commitments and contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Lease Payments Under Non-cancelable Lease


2020	$	3,230
2021		3,160
2022		3,149
2023		2,702
2024 and after		6,762
	$	19,003

Long term loan and other non-current liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Long-term Loan and Other Long-term Liabilities


	December 31,
	2019		2018
Long-term loan less current maturities of long-term loan	$	2,535	$	2,792
Contingent consideration		2,439		—
Accrued rent		454		364
Accrual for uncertain tax positions		184		124
	$	5,612	$	3,280

Schedule of Future Payments of Long-term Loan


2020	$	504
2021		526
2022		381
2023		382
2024 and after		1,245
	$	3,038

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
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-SubTopic 30
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-Paragraph 8
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+ Details

Financial income, net (Tables)

12 Months Ended

Dec. 31, 2019

Financial expense (income), net

Schedule of other Nonoperating income expense


	Year ended December 31,
	2019		2018		2017

Bank charges and other financial expenses	$	323	$	400	$	209
Exchange rate loss (gain), net		195		(163)		(140)
Interest income		(1,889)		(645)		(562)
	$	(1,371)	$	(408)	$	(493)

Shareholders' equity (Tables)

12 Months Ended

Dec. 31, 2019

Stockholders' Equity Note [Abstract]

Schedule of Ordinary Shares and Protected Ordinary Shares Issued and Outstanding


	December 31,
	2019	2018
A1 protected ordinary shares	—	8,492,054
A2 protected ordinary shares	—	4,302,386
A3 protected ordinary shares	—	3,350,038
A4 protected ordinary shares	—	2,317,434
Ordinary shares	31,937,772	7,063,458
	31,937,772	25,525,370

Schedule of Status of Options


	December 31, 2019
			Weighted-
			average
		Weighted-	remaining
		average	contractual
	Number of	exercise	term
	options	price	(in years)
Outstanding at the beginning of the year	2,974,891	5.86	8.32
Granted	1,829,455	16.87
Exercised	(161,398)	5.37
Forfeited	(182,659)	11.07
Outstanding at the end of the year	4,460,289	9.93	8.07
Exercisable at the end of the year	1,662,729	5.70	6.85

Schedule of Fair Value of Options Estimated on Grant Date

The fair value of these options was estimated on the grant date based on the following weighted average assumptions for:


	Year ended
	December 31,
	2019		2018		2017
Volatility	50	%	45% – 50	%	51% – 56	%
Expected term in years	5.0 – 6.11		5.25 – 6.25		6.25
Risk-free interest rate	1.52% – 2.59	%	2.0% – 3.07	%	2.0% – 2.4	%
Estimated fair value of underlying ordinary shares	12.8 – 22.64		8.69 – 18.47		4.75 – 5.56
Dividend yield	0	%	0	%	0	%

Schedule of Options Outstanding under 2011 Plan and 2011 Sub-Plan


	Outstanding			Exercisable
			Weighted			Weighted
			average			average
			remaining			remaining
		Number of	contractual	Number of		contractual
Exercise price		options	life (in years)	options		life (years)
$0.00-$0.33		157,655	8.64		45,546	7.78
$1.61- $2.01		449,173	4.58		449,173	4.58
$4.48- $5.55		1,482,296	7.63		880,095	7.38
$8.70- $10.84		324,749	8.22		111,809	7.77
$12.78- $18.46		1,475,433	8.97		93,148	8.86
$21.81-$24.79		570,983	9.41		82,958	9.47
		4,460,289	8.07		1,662,729	6.85
Aggregate intrinsic value	$	60,513		$	29,601

Schedule of Status of RSU


	December 31, 2019
		Weighted-
	Number of	average
	RSU	grant date fair value
Outstanding at the beginning of the year	—	—
Granted	124,727	22.95
Vested	(849)	23.14
Forfeited	(5,625)	23.03
Outstanding at the end of the year	118,253	22.95

Schedule of Stock-Based Compensation Costs


	Year ended
	December 31,
	2019		2018		2017
Cost of revenue	$	142	$	12	$	20
Research and development		3,197		731		286
Sales and marketing		1,853		1,480		836
General and administrative		3,707		9,425		261
	$	8,899	$	11,648	$	1,403

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 45
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Income Taxes (Table)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Domestic and Foreign Loss Before Income Taxes


	Year ended
	December 31,
	2019		2018		2017
Domestic	$	(27,916)	$	(32,688)	$	(18,858)
Foreign		(5,463)		(3,373)		(172)
	$	(33,379)	$	(36,061)	$	(19,030)

Schedule of Components of Income Taxes


	Year ended
	December 31,
	2019		2018		2017
Domestic	$	—	$	—	$	—
Foreign		160		—		294
	$	160	$	—	$	294

Schedule of Reconciliation Tax Benefit at Israeli Statutory Tax Rate


	Year ended
	December 31,
	2019			2018			2017
Loss before income taxes	$	(33,379)		$	(36,061)		$	(19,030)
Statutory tax rate		23	%		23	%		24	%
Theoretical tax benefit		7,677			8,294			4,567
Increase (decrease) in effective tax rate due to:
Change in valuation allowance		(4,872)			(5,822)			(5,431)
Effect of entities with different tax rates		38			(56)			25
Non-deductible expenses		(3,015)			(2,736)			(474)
Impact of change in statutory tax rate for future periods		—			—			(248)
Impact of exchange rate on temporary differences		—			—			1,321
Deductible expense		4			569			—
Other		8			(249)			(54)
Effective income taxes	$	(160)		$	—		$	(294)

Schedule of Deferred Tax Assets


	2019		2018
Deferred tax assets, net:
Research and development expenses and other	$	7,102	$	5,595
Intangible assets from acquisition of business and other		23		(203)
Net operating loss carryforwards*		24,026		20,104
	$	31,151	$	25,496
Less—valuation allowance in respect of net operating loss carryforwards		(31,151)		(25,496)
Total deferred tax assets, net	$	—	$	—

Segment and geographic information (Table)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Schedule of Geographic Areas Based on Location


	Year ended
	December 31,
	2019		2018		2017
U.S.	$	57,938	$	40,529	$	28,261
Europe		25,181		15,265		10,141
Asia Pacific		13,356		11,076		7,838
Rest of the world		9,374		7,477		5,155
Israel		1,224		1,156		717
	$	107,073	$	75,503	$	52,112

Schedule of Property and Equipment by Geographical Areas


	December 31,
	2019		2018
Israel	$	4,961	$	4,800
U.S. and other		360		343
	$	5,321	$	5,143

General (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
General (Details) - USD ($) $ in Thousands	Jun. 16, 2019	Jun. 17, 2019	Dec. 31, 2019
Net proceeds from Initial public offering			$ 113,350
Number of Protected Ordinary shares that were exchanged for Ordinary shares	18,654,270
IPO
Share issued		6,052,631
Net proceeds from Initial public offering		$ 113,332
Number of Protected Ordinary shares that were exchanged for Ordinary shares		18,654,270
Underwriters \| IPO
Share issued		789,473

Significant accounting policies (Narrative) (Details)	12 Months Ended
Significant accounting policies (Narrative) (Details)	Dec. 31, 2019 USD ($) segment shares	Dec. 31, 2018 USD ($) shares	Dec. 31, 2017 USD ($) shares
Other-than-temporary impairment	$ 0
Carrying amount of the asset	$ 0	$ 0
Intangible assets useful life	3 years
Intangible assets finite lived	$ 0	0
Goodwill impairment loss	$ 0	0
Defined contribution plan for employee in percentage	100.00%
Defined contribution plan for employee in amount	$ 18.5
Defined Contribution Plan Employer percentage match	50.00%
Defined Contribution Plan Employer percentage	6.00%
Revenue, Practical Expedient, Incremental Cost of Obtaining Contract [true false]	true
Vesting period	4 years
Percentage of monthly salary contributed to insurance funds	8.33%
Severance costs	$ 2,359,000	1,638,000	$ 1,194,000
Advertising costs	$ 41,341,000	$ 34,843,000	$ 24,813,000
Potentially dilutive options to purchase ordinary shares \| shares	4,578,542	2,974,891	2,444,806
Number of Reportable Segments \| segment	1
Number of Operating Segments \| segment	1
Deferred revenues resulting from transaction and service fees	$ 3,248,000
Transaction Fee
Revenue	78,074,000	$ 55,117,000	$ 39,001,000
Service
Revenue	$ 28,999,000	$ 20,386,000	$ 13,111,000
Minimum
Intangible assets useful life	3 years
Maximum
Intangible assets useful life	10 years

Significant accounting policies (Schedule of Percentage of Depreciation of Property and Equipment, Net) (Details)	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, net	33.00%
Office furniture and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, net	7.00%
Office furniture and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, net	15.00%

Certain transactions (Acquisitions Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended			12 Months Ended
	Mar. 31, 2019	Feb. 28, 2019	Jan. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Share issued, value				$ 4,340	$ 54,635
Estimated amortization period				3 years
Fair value of contingent consideration				$ 4,240
Other account payables and accrued expenses				21,426	10,231
Long-term loan and other non-current liabilities				5,612	3,280
And Co. Ventures Inc
Business Acquisition [Line Items]
Total Consideration			$ 3,250
Escrow			500
Value of shares issued for acquisition			1,640
Share price	$ 22.41
Share issued	9,606
Share issued, value	$ 215
Signing bonus			1,125
Retention bonus	$ 566
Retention bonus expensed during period				211	$ 1,500
Acquisition expenses			$ 64
And Co. Ventures Inc \| Trade name
Business Acquisition [Line Items]
Estimated amortization period			10 years
And Co. Ventures Inc \| Developed technology
Business Acquisition [Line Items]
Estimated amortization period			5 years
And Co. Ventures Inc \| Customer relationships
Business Acquisition [Line Items]
Estimated amortization period			3 years
Clear Voice, Inc.
Business Acquisition [Line Items]
Total Consideration		$ 11,786
Escrow		3,500
Retention bonus		1,450
Retention bonus expensed during period				1,329
Acquisition expenses				$ 183
Contingent payments		8,000
Business Combination Milestone Payments				3 years
Fair value of contingent consideration		$ 4,240
Other account payables and accrued expenses				$ 3,888
Long-term loan and other non-current liabilities				$ 2,439
Clear Voice, Inc. \| Trade name
Business Acquisition [Line Items]
Estimated amortization period		5 years
Clear Voice, Inc. \| Developed technology
Business Acquisition [Line Items]
Estimated amortization period		5 years
Clear Voice, Inc. \| Customer relationships
Business Acquisition [Line Items]
Estimated amortization period		3 years

Certain transactions (Schedule of Fair Value of Acquired Assets and Assumed Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Feb. 28, 2019	Dec. 31, 2018	Jan. 31, 2018
Business Acquisition [Line Items]
Goodwill	$ 11,240		$ 1,381
And Co. Ventures Inc
Business Acquisition [Line Items]
Cash				$ 574
Deposit				20
Other				9
Goodwill				1,381
Total acquired assets				4,974
Accrued expenses and other payables				84
Total assumed liabilities				84
Net assets acquired				4,890
And Co. Ventures Inc \| Developed technology
Business Acquisition [Line Items]
Intangible assets				1,320
And Co. Ventures Inc \| Customer relationships
Business Acquisition [Line Items]
Intangible assets				1,060
And Co. Ventures Inc \| Trade name
Business Acquisition [Line Items]
Intangible assets				$ 610
Clear Voice, Inc.
Business Acquisition [Line Items]
Cash		$ 369
Accounts receivables and other receivables		523
Goodwill		9,859
Total acquired assets		15,511
Trade payable		91
Accrued expenses and other payables		844
Total assumed liabilities		935
Net assets acquired		14,576
Clear Voice, Inc. \| Developed technology
Business Acquisition [Line Items]
Intangible assets		2,600
Clear Voice, Inc. \| Customer relationships
Business Acquisition [Line Items]
Intangible assets		1,600
Clear Voice, Inc. \| Trade name
Business Acquisition [Line Items]
Intangible assets		$ 560

Certain transactions (Schedule of Fair Value of Consideration Transferred) (Details) - Clear Voice, Inc. $ in Thousands	1 Months Ended
	Feb. 28, 2019 USD ($)
Business Acquisition [Line Items]
Cash paid	$ 11,786
Fair-value of contingent consideration	4,240
Retention bonus	(1,450)
Total fair value of consideration transferred	$ 14,576

Certain transactions (Other transactions) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2019	Apr. 30, 2018	Apr. 30, 2014
Business Combinations [Abstract]
Warrants granted			6,401
Exercise price of warrants			$ 4.88
Line of credit maximum borrowing capacity		$ 30,000	$ 5,000
Exercise of warrants	5,166

Fair value of financial instruments (Schedule of Fair Value of Financial Assets Measurement) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in marketable securities		$ 0
Contingent consideration	$ 6,327
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets (liabilities) measured at fair value	42,663	59,473
Level 1 \| Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	21,289	15,850
Level 1 \| Deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	2,882	40,105
Level 1 \| Bank Deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in marketable securities	15,000
Level 1 \| Restricted Deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	3,492	3,518
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in marketable securities	110,364
Derivatives	179	(598)
Financial assets (liabilities) measured at fair value	110,543	$ (598)
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	6,327
Financial assets (liabilities) measured at fair value	$ (6,327)

Fair value of financial instruments (Summary of Changes in Fair Value of Contingent Consideration) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Fair Value Disclosures [Abstract]
Acquisition of Clear Voice	$ (4,240)
Change in fair value	(2,087)
Fair value as of December 31, 2019	$ 6,327

Investment in marketable securities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Amortized Cost	$ 110,305
Unrealized gains	76
Unrealized losses	(17)
Fair Value	110,364
Investment in marketable securities		$ 0
Amortized Cost
Due within one year	88,487
Due after one year through two years	21,818
Total	110,305
Fair Value
Due within one year	88,559
Due after one year through two years	21,805
Total	110,364
U.S. treasury bonds
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Amortized Cost	75,340
Unrealized gains	76
Fair Value	75,416
Corporate bonds
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Amortized Cost	34,965
Unrealized losses	(17)
Fair Value	$ 34,948

Property and equipment, net (Schedule of Property and equipment, net) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 8,354	$ 7,266
Less-accumulated depreciation	(3,033)	(2,123)
Property and equipment, net	5,321	5,143
Depreciation expenses	920	820	$ 740
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	5,162	4,981
Computers and peripheral equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,121	1,333
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,071	$ 952

Intangible assets, net (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Capitalized amount	$ 1,014	$ 789
Stock-based compensation capitalized	110	32
Amortization expenses	$ 2,651	$ 1,430

Intangible assets, net (Schedule of Intangible assets, net) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 11,769	$ 5,995
Less-accumulated amortization	(4,581)	(1,930)
Intangible assets, net	7,188	4,065
Developed technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	3,920	1,320
Capitalized internal-use software
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	4,019	3,005
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	2,660	1,060
Trade name
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 1,170	$ 610

Intangible assets, net (Schedule of estimated future amortization of intangible assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
2020	$ 2,829
2021	2,021
2022	1,311
2023	723
2024 and thereafter	304
Total	$ 7,188	$ 4,065

Derivatives and hedging (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive income (loss)	$ 261	$ (327)
Designated as Hedging Instrument \| Forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount	$ 7,500	20,400
Fair value of outstanding forward contracts, asset		179
Fair value of outstanding forward contracts, liability		$ 598

Derivatives and hedging (Schedule of Losses Reclassified From Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amounts reclassified from accumulated other comprehensive income (loss)	$ (261)	$ 327
Cost of revenue
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amounts reclassified from accumulated other comprehensive income (loss)	(17)	23
Research and development
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amounts reclassified from accumulated other comprehensive income (loss)	(142)	173
Sales and marketing
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amounts reclassified from accumulated other comprehensive income (loss)	(59)	60
General and administrative
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amounts reclassified from accumulated other comprehensive income (loss)	$ (43)	$ 71

Other account payables and accrued expenses (Schedule of Other Payable and Accrued Expenses) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Payables and Accruals [Abstract]
Accrued employee and government authorities	$ 8,677	$ 5,043
Accrued expenses and other	8,808	4,467
Contingent consideration	3,888
Derivatives		598
Other	53	123
Total	$ 21,426	$ 10,231

Commitments and contingencies (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Renewal option	5 years
Rent expense	$ 2,373	$ 1,732	$ 1,273
Sublease income	$ 931	$ 1,367	$ 1,481

Commitments and contingencies (Schedule of Future Minimum Lease Payments Under Non-cancelable Lease) (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2020	$ 3,230
2021	3,160
2022	3,149
2023	2,702
2024 and after	6,762
Total future minimum lease payments	$ 19,003

Long term loan and other non-current liabilities (Narrative) (Details) $ in Thousands	Dec. 31, 2016 USD ($)
Debt Disclosure [Abstract]
Lease term	10 years
Lessor finance amount	$ 3,963
Effective interest rate	4.20%

Long term loan and other non-current liabilities (Schedule of Long-term Loan and Other Long-term Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Long-term loan less current maturities of long-term loan	$ 2,535	$ 2,792
Contingent consideration	2,439
Accrued rent	454	364
Accrual for uncertain tax positions	184	124
Long-term loan and long-term liabilities	$ 5,612	$ 3,280

Long term loan and other non-current liabilities (Schedule of Future Payments of Long-term Loan) (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Debt Disclosure [Abstract]
2020	$ 504
2021	526
2022	381
2023	382
2024 and after	1,245
Total future payments of long-term loan	$ 3,038

Financial income, net (Details) - USD ($) $ in Thousands	12 Months Ended
Financial income, net (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Financial expense (income), net
Bank charges and other financial expenses	$ 323	$ 400	$ 209
Exchange rate loss (gain), net	195	(163)	(140)
Interest income	(1,889)	(645)	(562)
Financial income, net	$ (1,371)	$ (408)	$ (493)

Shareholders' equity (Narrative) (Details) $ / shares in Units, $ in Thousands		1 Months Ended		12 Months Ended
	Jun. 16, 2019 shares	Feb. 28, 2019 USD ($) $ / shares shares	Nov. 30, 2018 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) Vote $ / shares shares	Dec. 31, 2018 USD ($) $ / shares shares	Dec. 31, 2017 USD ($) $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Note stock split conversionRatio1				0.1495
Ordinary shares, authorized \| shares				75,000,000	31,390,135
Protected Ordinary Stock Shares Authorized \| shares					31,390,135
Number of Protected Ordinary shares that were exchanged for Ordinary shares \| shares	18,654,270
Number of votes \| Vote				1
Net of issuance costs				$ 4,876
Issuance of Protected ordinary shares, net of issuance costs				$ 4,340	$ 54,635
Vesting period				4 years
Unallocated ordinary shares \| shares					12,006
Weighted-average grant-date fair value of options granted \| $ / shares				$ 11.99	$ 1.27	$ 0.40
Aggregate intrinsic value of exercised options				$ 2,715	$ 5,716	$ 593
Grant-date fair value of vested options				5,768	$ 972	501
Total unrecognized compensation cost				$ 26,227
Total unrecognized compensation cost weighted-average period				2 years 10 months 28 days
Number of shares sold by ordinary shareholders to existing investor in secondary market transaction \| shares					679,762
Number of shares sold by ordinary shareholders to existing investor in secondary market transaction, value					$ 15,000
Stock-based compensation costs				$ 8,899	11,648	$ 1,403
Operating expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation costs					$ 9,187
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares sold by ordinary shareholders to existing investor in secondary market transaction, price per share \| $ / shares					$ 21.41
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares sold by ordinary shareholders to existing investor in secondary market transaction, price per share \| $ / shares					$ 22.41
2011 plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				4 years
Number of ordinary shares reserved and available for grant and issuance \| shares				4,862,550
Unallocated ordinary shares \| shares				284,008
2019 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				4 years
Number of ordinary shares reserved and available for grant and issuance \| shares				4,862,849
A4 protected ordinary shares \| New investor and certain existing investors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of Protected ordinary shares, net of issuance costs (in shares) \| shares			2,317,434
Issuance of Protected ordinary shares, net of issuance costs			$ 52,995
Shares issued during period, price per share \| $ / shares			$ 22.88
A4 protected ordinary shares \| Existing investor
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of Protected ordinary shares, net of issuance costs (in shares) \| shares		182,752
Net of issuance costs		$ 60
Issuance of Protected ordinary shares, net of issuance costs		$ 4,125
Shares issued during period, price per share \| $ / shares		$ 22.88
Deemed dividend		$ 632

Shareholders' equity (Schedule of Ordinary Shares and Protected Ordinary Shares Issued and Outstanding) (Details) - shares	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Ordinary shares and protected ordinary shares issued and outstanding	31,937,772	25,525,370
A1 protected ordinary shares
Class of Stock [Line Items]
Ordinary shares and protected ordinary shares issued and outstanding	0	8,492,054
A2 protected ordinary shares
Class of Stock [Line Items]
Ordinary shares and protected ordinary shares issued and outstanding	0	4,302,386
A3 protected ordinary shares
Class of Stock [Line Items]
Ordinary shares and protected ordinary shares issued and outstanding	0	3,350,038
A4 protected ordinary shares
Class of Stock [Line Items]
Ordinary shares and protected ordinary shares issued and outstanding	0	2,317,434
Ordinary shares
Class of Stock [Line Items]
Ordinary shares and protected ordinary shares issued and outstanding	31,937,772	7,063,458

Shareholders' equity (Schedule of Status of Options) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Number of options
Outstanding at the beginning of the year	2,974,891
Granted	1,829,455
Exercised	(161,398)
Forfeited	(182,659)
Outstanding at the end of the year	4,460,289	2,974,891
Exercisable at the end of the year	1,662,729
Weighted-average exercise price
Outstanding at the beginning of the year	$ 5.86
Granted	16.87
Exercised	5.37
Forfeited	11.07
Outstanding at the end of the year	9.93	$ 5.86
Exercisable at the end of the year	$ 5.70
Weighted-average remaining contractual term (in years)
Outstanding	8 years 26 days	8 years 3 months 26 days
Exercisable at the end of the year	6 years 10 months 6 days

Shareholders' equity (Schedule of Fair Value of Options Estimated on Grant Date) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.52%
Dividend yield	0.00%	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility		45.00%	51.00%
Expected term in years	5 years	5 years 3 months	6 years 3 months
Risk-free interest rate		2.00%	2.00%
Estimated fair value of underlying ordinary shares	$ 12.8000	$ 8.69	$ 4.75
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	50.00%	50.00%	56.00%
Expected term in years	6 years 1 month 10 days	6 years 3 months
Risk-free interest rate	2.59%	3.07%	2.40%
Estimated fair value of underlying ordinary shares	$ 22.64	$ 18.47	$ 5.56

Shareholders' equity (Schedule of Options Outstanding under 2011 Plan and 2011 Sub-Plan) (Details) - 2011 plan and 2011 sub-plan $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Number of options	4,460,289
Outstanding Weighted average remaining contractual life (in years)	8 years 26 days
Exercisable Number of options	1,662,729
Exercisable Weighted average remaining contractual life (years)	6 years 10 months 6 days
Outstanding Aggregate intrinsic value \| $	$ 60,513
Exercisable Aggregate intrinsic value \| $	$ 29,601
$0.00 - $0.33
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price, lower limit \| $ / shares	$ 0.00
Exercise price, upper limit \| $ / shares	$ 0.33
Outstanding Number of options	157,655
Outstanding Weighted average remaining contractual life (in years)	8 years 7 months 21 days
Exercisable Number of options	45,546
Exercisable Weighted average remaining contractual life (years)	7 years 9 months 11 days
Outstanding Aggregate intrinsic value \| $	$ 0
Exercisable Aggregate intrinsic value \| $	$ 0
$1.61 - $2.01
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price, lower limit \| $ / shares	$ 1.61
Exercise price, upper limit \| $ / shares	$ 2.01
Outstanding Number of options	449,173
Outstanding Weighted average remaining contractual life (in years)	4 years 6 months 29 days
Exercisable Number of options	449,173
Exercisable Weighted average remaining contractual life (years)	4 years 6 months 29 days
Outstanding Aggregate intrinsic value \| $	$ 0
Exercisable Aggregate intrinsic value \| $	$ 0
$4.48 - $5.55
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price, lower limit \| $ / shares	$ 4.48
Exercise price, upper limit \| $ / shares	$ 5.55
Outstanding Number of options	1,482,296
Outstanding Weighted average remaining contractual life (in years)	7 years 7 months 17 days
Exercisable Number of options	880,095
Exercisable Weighted average remaining contractual life (years)	7 years 4 months 17 days
Outstanding Aggregate intrinsic value \| $	$ 0
Exercisable Aggregate intrinsic value \| $	$ 0
$8.70 - $10.84
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price, lower limit \| $ / shares	$ 8.70
Exercise price, upper limit \| $ / shares	$ 10.84
Outstanding Number of options	324,749
Outstanding Weighted average remaining contractual life (in years)	8 years 2 months 19 days
Exercisable Number of options	111,809
Exercisable Weighted average remaining contractual life (years)	7 years 9 months 7 days
Outstanding Aggregate intrinsic value \| $	$ 0
Exercisable Aggregate intrinsic value \| $	$ 0
$12.78 - $18.46
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price, lower limit \| $ / shares	$ 12.78
Exercise price, upper limit \| $ / shares	$ 18.46
Outstanding Number of options	1,475,433
Outstanding Weighted average remaining contractual life (in years)	8 years 11 months 19 days
Exercisable Number of options	93,148
Exercisable Weighted average remaining contractual life (years)	8 years 10 months 10 days
Outstanding Aggregate intrinsic value \| $	$ 0
Exercisable Aggregate intrinsic value \| $	$ 0
$21.81-$24.79
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price, lower limit \| $ / shares	$ 21.81
Exercise price, upper limit \| $ / shares	$ 24.79
Outstanding Number of options	570,983
Outstanding Weighted average remaining contractual life (in years)	9 years 4 months 28 days
Exercisable Number of options	82,958
Exercisable Weighted average remaining contractual life (years)	9 years 5 months 19 days

Shareholders' equity (Schedule of Status of RSU) (Details) - RSU	12 Months Ended
	Dec. 31, 2019 $ / shares shares
Number of RSU
Granted \| shares	124,727
Vested \| shares	(849)
Forfeited \| shares	(5,625)
Outstanding at the end of the year \| shares	118,253
Weighted-average grant date fair value
Granted \| $ / shares	$ 22.95
Vested \| $ / shares	23.14
Forfeited \| $ / shares	23.03
Outstanding at the end of the year \| $ / shares	$ 22.95

Shareholders' equity (Schedule of Stock-Based Compensation Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation costs	$ 8,899	$ 11,648	$ 1,403
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation costs	142	12	20
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation costs	3,197	731	286
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation costs	1,853	1,480	836
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation costs	$ 3,707	$ 9,425	$ 261

Income Taxes (Narrative) (Details) - USD ($)				12 Months Ended
Income Taxes (Narrative) (Details) - USD ($)	Jan. 31, 2018	Jan. 01, 2018	Jan. 01, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Loss Carryforwards				$ 94,147
Corporate tax rate		23.00%	24.00%		23.00%	24.00%	25.00%
Federal Statutory Income Tax Rate			7.50%				9.00%
Federal Statutory Income Tax Rate, Preferred Enterprises Located in Other Than Development Area, Percent			16.00%
Federal Statutory Income Tax Rate, Preferred Technological Enterprise Income, Percent			12.00%
Income tax rate for US federal corporate tax according to the Tax Cuts and Jobs Act				21	35
Percentage of net operating loss deduction to taxable income	80.00%
Maximum
Tax benefit period, commencement				12 years
Tax benefit period, approval				14 years
Israel
Corporate tax rate				23.00%	23.00%
Israel \| Minimum
Open tax year				2014
Israel \| Maximum
Open tax year				2018
US
Tax exempted period				2 years
US \| Minimum
Reduced corporate tax rate company will be liable in years three to eight, based on the percentage of foreign ownership				10.00%
Open tax year				2016
US \| Maximum
Reduced corporate tax rate company will be liable in years three to eight, based on the percentage of foreign ownership				25.00%
Open tax year				2018
US \| Income tax according to statutory tax rules outside of Israel
Operating Loss Carryforwards				$ 10,313

Income Taxes (Schedule of Domestic and Foreign Loss Before Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income before taxes on income	$ (33,379)	$ (36,061)	$ (19,030)
Income tax according to Israel statutory tax rules
Income before taxes on income	(27,916)	(32,688)	(18,858)
Income tax according to statutory tax rules outside of Israel
Income before taxes on income	$ (5,463)	$ (3,373)	$ (172)

Income Taxes (Schedule of Domestic and Foreign Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2017
Components of income taxes	$ 160	$ 294
Income tax according to statutory tax rules outside of Israel
Components of income taxes	$ 160	$ 294

Income Taxes (Schedule of Reconciliation Tax Benefit at Israeli Statutory Tax Rate) (Details) - USD ($) $ in Thousands			12 Months Ended
	Jan. 01, 2018	Jan. 01, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Loss before income taxes			$ (33,379)	$ (36,061)	$ (19,030)
Statutory tax rate	23.00%	24.00%		23.00%	24.00%	25.00%
Theoretical tax benefit			7,677	$ 8,294	$ 4,567
Increase (decrease) in effective tax rate due to:
Change in valuation allowance			(4,872)	(5,822)	(5,431)
Effect of entities with different tax rates			38	(56)	25
Non-deductible expenses			(3,015)	(2,736)	(474)
Impact of change in statutory tax rate for future periods					(248)
Impact of exchange rate on temporary differences					1,321
Deductible expense			4	569	0
Other			8	$ (249)	(54)
Effective income taxes			$ (160)		$ (294)

Income Taxes (Schedule of Deferred tax assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets, net:
Research and development expenses and other	$ 7,102	$ 5,595
Intangible assets from acquisition of business and other	23	(203)
Net operating loss carryforwards	24,026	20,104
Total Deferred tax assets	31,151	25,496
Less-valuation allowance in respect of net operating loss carryforwards	$ 31,151	$ 25,496

Segment and geographic information (Schedule of Geographic Areas Based on Location) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Revenues	$ 107,073	$ 75,503	$ 52,112
U.S.
Segment Reporting Information [Line Items]
Revenues	57,938	40,529	28,261
Europe
Segment Reporting Information [Line Items]
Revenues	25,181	15,265	10,141
Asia Pacific
Segment Reporting Information [Line Items]
Revenues	13,356	11,076	7,838
Rest of the world
Segment Reporting Information [Line Items]
Revenues	9,374	7,477	5,155
Israel
Segment Reporting Information [Line Items]
Revenues	$ 1,224	$ 1,156	$ 717

Segment and geographic information (Schedule of Property and Equipment by Geographical Areas) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Property and equipment, net	$ 5,321	$ 5,143
Israel
Segment Reporting Information [Line Items]
Property and equipment, net	4,961	4,800
U.S. and other
Segment Reporting Information [Line Items]
Property and equipment, net	$ 360	$ 343