View Filing Data

Fair Value of Derivative Instruments

Balance Sheet Location

As of

September 30, 2015

(unaudited)

As of

June 30, 2015

Derivative Assets

Foreign exchange forward contracts

Other accounts receivable and prepaid expenses (*)

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Sep. 30, 2015	Oct. 28, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q1
Entity Registrant Name	SolarEdge Technologies Inc
Entity Central Index Key	0001419612
Current Fiscal Year End Date	--06-30
Entity Current Reporting Status	No
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		39,304,342

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 146,729	$ 144,750
Restricted cash	3,588	3,639
Trade receivables, net	47,366	35,428
Prepaid expenses and other accounts receivable	20,733	32,645
Inventories	79,907	73,950
Total current assets	298,323	290,412
PROPERTY AND EQUIPMENT, NET	17,272	14,717
LONG-TERM LEASE DEPOSIT AND PREPAID EXPENSES	601	529
INTANGIBLE ASSETS, NET	779
Total assets	316,975	305,658
CURRENT LIABILITIES:
Trade payables	67,180	80,684
Employees and payroll accruals	7,898	6,814
Warranty obligations	10,587	9,431
Deferred revenues	2,175	1,676
Accrued expenses and other accounts payable	8,459	6,987
Total current liabilities	96,299	105,592
LONG-TERM LIABILITIES
Warranty obligations	25,317	22,448
Deferred revenues	9,760	8,289
Lease incentive obligation	2,374	2,385
Total long-term liabilities	37,451	33,122
COMMITMENTS AND CONTINGENT LIABILITIES
Share capital
Common stock of $0.0001 par value - Authorized: 125,000,000 shares as of September 30, 2015 (unaudited) and June 30, 2015; issued and outstanding: 39,303,892 and 39,297,539 shares as of September 30, 2015 (unaudited) and June 30, 2015, respectively.	4	4
Additional paid-in capital	289,004	287,152
Accumulated other comprehensive loss	(225)	(222)
Accumulated deficit	(105,558)	(119,990)
Total stockholders' equity	183,225	166,944
Total liabilities and stockholders' equity	$ 316,975	$ 305,658

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2015	Jun. 30, 2015
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, authorized shares	125,000,000	125,000,000
Common stock, issued shares	39,303,892	39,297,539
Common stock, outstanding shares	39,303,892	39,297,539

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Revenues	$ 115,054	$ 66,969
Cost of revenues	81,527	52,939
Gross profit	33,527	14,030
Operating expenses:
Research and development, net	6,991	5,059
Sales and marketing	8,244	5,461
General and administrative	3,418	1,159
Total operating expenses	18,653	11,679
Operating income	14,874	2,351
Financial income (expenses), net	(72)	516
Income before taxes on income	14,802	2,867
Taxes on income	370	347
Net income	$ 14,432	$ 2,520
Net basic earnings per share of common stock	$ 0.37
Net diluted earnings per share of common stock	$ 0.32
Weighted average number of shares used in computing net basic earnings per share of common stock	39,301,620	2,812,684
Weighted average number of shares used in computing net diluted earnings per share of common stock	44,455,964	2,812,684

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net income	$ 14,432	$ 2,520
Cash flow hedges:
Changes in unrealized gains (losses)	37
Reclassification adjustments for losses included in net income	1
Net change	38
Foreign currency translation adjustments, net	(41)	(125)
Other comprehensive loss	(3)	(125)
Comprehensive income	$ 14,429	$ 2,395

- Definition

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

+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows provided by (used in) operating activities:
Net income	$ 14,432	$ 2,520
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation	738	542
Amortization of intangible assets	21
Stock-based compensation related to employee and non-employee consultants stock options	1,832	320
Realized losses on Cash Flow Hedges	1
Interest expenses related to Bank Loan		24
Financial income, net related to term loan		(491)
Remeasurement of warrants to purchase preferred and common stock		(15)
Changes in assets and liabilities:
Inventories	(5,956)	(4,311)
Prepaid expenses and other accounts receivable	11,811	(5,527)
Trade receivables, net	(11,928)	(7,565)
Trade payables	(13,500)	9,871
Employees and payroll accruals	1,044	390
Warranty obligations	4,025	3,101
Deferred revenues	1,970	864
Accrued expenses and other accounts payable	1,467	19
Lease incentive obligation	(11)
Net cash provided by (used in) operating activities	5,946	(258)
Cash flows used in investing activities:
Purchase of property and equipment	(3,292)	(1,002)
Purchase of intangible assets	(800)
Decrease in restricted cash	51	13
Decrease in short and long-term lease deposits	73	29
Net cash used in investing activities	(3,968)	(960)
Cash flows from financing activities:
Proceeds from short-term bank loans		6,000
Payments of term loan		(798)
Proceeds from issuance of Convertible Preferred stock, net		20,998
Proceeds from exercise of employee stock options	17	8
Net cash provided by financing activities	17	26,208
Increase in cash and cash equivalents	1,995	24,990
Cash and cash equivalents at the beginning of the period	144,750	9,754
Erosion due to exchange rate differences	(16)	(2)
Cash and cash equivalents at the end of the period	146,729	34,742
Supplemental disclosure of non-cash financing activities:
Deferred issuance costs		508
Issuance expenses not paid in cash		523
Issuance of Series E Convertible Preferred stock in consideration of receivables on account of stock		2,000
Exercise of employee stock options not paid in cash	3
Unrealized gains on cash flow hedges	$ 37

GENERAL

3 Months Ended

Sep. 30, 2015

GENERAL [Abstract]

GENERAL

NOTE 1:-

GENERAL

SolarEdge Technologies Inc. (the “Company”) and its subsidiaries design, develop, and sell an intelligent inverter solution that maximizes power generation at the individual photovoltaic (“PV”) module level while lowering the cost of energy produced by the solar PV system and providing comprehensive and advanced safety features. The Company's products consist mainly of (i) power optimizers which maximize energy throughput from each and every module through constant tracking of Maximum Power Point individually per module, (ii) inverters which invert direct current (DC) from the PV module to alternating current (AC) and (iii) a related cloud based monitoring platform, that collects and processes information from the power optimizers and inverters of a solar PV system to enable customers and system owners, as applicable, to monitor and manage the solar PV systems. The Company operates its business itself and through its wholly-owned subsidiaries: SolarEdge Technologies Ltd. in Israel; SolarEdge Technologies GmbH in Germany; SolarEdge Technologies (China) Co., Ltd in China; SolarEdge Technologies (Australia) PTY Ltd. in Australia; SolarEdge Technologies (Canada) Ltd. in Canada; SolarEdge Technologies (Holland) B.V. in the Netherlands; SolarEdge Technologies (UK) Ltd in United Kingdom; SolarEdge Technologies (Japan) Co., Ltd. in Japan and SolarEdge Technologies (France) SARL in France (collectively, the “subsidiaries”). Except for SolarEdge Technologies Ltd in Israel, which carries out the research and development, management of manufacturing, global sales and support and management activities, the other subsidiaries are engaged solely in selling, marketing and support activities. The Company was incorporated in Delaware in August 2006 and began commercial sale of its products in January 2010.

Recent accounting pronouncements:

Inventory:

On July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330), Simplifying the Measurement of Inventory, which changes the measurement principle for inventory from the lower of cost or market to lower of cost and net realizable value. Net realizable value is defined as the “estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation.” ASU 2015-11 eliminates the guidance that entities consider replacement cost or net realizable value less an approximately normal profit margin in the subsequent measurement of inventory when cost is determined on a first-in, first-out or average cost basis. The provisions of ASU 2015-11 are effective for public entities with fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted. The Company is in the process of evaluating the impact to its consolidated financial position, consolidated results of operations, and consolidated cash flows of the adoption of ASU 2015-11.

The significant accounting policies applied in the Company's audited annual consolidated financial statements as of June 30, 2015 are applied consistently in these financial statements.

Basis of Presentation:

The accompanying unaudited consolidated interim financial statements have been prepared in accordance with Article 10 of Regulation S-X, “Interim Financial Statements” and the rules and regulations for Form 10-Q of the Securities and Exchange Commission (the “SEC”). Pursuant to those rules and regulations, the Company has condensed or omitted certain information and footnote disclosure it normally includes in its annual consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”).

In management's opinion, the Company has made all adjustments (consisting only of normal, recurring adjustments, except as otherwise indicated) necessary to fairly present its consolidated financial position, results of operations and cash flows. The Company's interim period operating results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. These financial statements and accompanying notes should be read in conjunction with the 2015 consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for its fiscal year ended June 30, 2015 filed with the SEC on August 20, 2015 (the “2015 Form 10-K”). There have been no changes in the significant accounting policies from those that were disclosed in the audited consolidated financial statements for the fiscal year ended June 30, 2015 included in the 2015 Form 10-K.

The Company depends on two contract manufacturers and several limited or single source component suppliers. Reliance on these vendors makes the Company vulnerable to possible capacity constraints and reduced control over component availability, delivery schedules, manufacturing yields and costs.

Two vendors collectively account for 71% (unaudited) and 79% of the Company's total trade payables as of September 30, 2015 (unaudited) and June 30, 2015, respectively.

Derivative financial instruments:

The Company accounts for derivatives and hedging based on ASC 815 (“Derivatives and Hedging”). ASC 815 requires the Company to recognize all derivatives on the balance sheet at fair value. The accounting for changes in the fair value (i.e., gains or losses) of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and further, on the type of hedging relationship.

To protect against the increase in value of forecasted foreign currency cash flows resulting from salary and lease payments of its Israeli facilities denominated in the Israeli currency, the New Israeli Shekels (“NIS”), during the three months ended September 30, 2015, the Company instituted a foreign currency cash flow hedging program. The Company hedges portions of the anticipated payroll and lease payments denominated in NIS for a period of one to twelve months with hedging contracts. Accordingly, when the dollar strengthens against the foreign currencies, the decline in present value of future foreign currency expenses is offset by losses in the fair value of the hedging contracts. Conversely, when the dollar weakens, the increase in the present value of future foreign currency cash flows is offset by gains in the fair value of the hedging contracts. These hedging contracts are designated as cash flow hedges, as defined by ASC 815 and are all effective hedges of these expenses.

In accordance with ASC 815, for derivative instruments that are designated and qualify as a cash flow hedge (i.e. hedging the exposure to variability in expected future cash flows that is attributable to a particular risk), the effective portion of the gain or loss on the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Any gain or loss on a derivative instrument in excess of the cumulative change in the present value of future cash flows of the hedged item is recognized in current earnings during the period of change.

In addition to the above mentioned cash flow hedges transactions, the Company also entered into derivative instrument arrangements to hedge the Company's exposure to currencies other than the U.S. dollar. These derivative instruments are not designated as cash flows hedges, as defined by ASC 815, and therefore all gains and losses, resulted from fair value remeasurements, were recorded immediately in the statement of operations, as financial expenses, net.

As of September 30, 2015, the outstanding notional principal amounts of foreign exchange forward contracts to sell U.S. dollars and Euros into which the Company entered were $23,217 and €6 million, respectively. These hedging contracts do not contain any credit-risk-related contingency features. See Note 5 for information on the fair value of these hedging contracts.

The fair value of derivative assets and derivative liabilities were $342 and $41, respectively, at September 30, 2015. The Company recorded a net amount of $301 in other accounts receivable and prepaid expenses in the consolidated balance sheets at September 30, 2015.
The amount recorded as loss in general and administrative expenses in the consolidated statements of income for the three months ended September 30, 2015 (unaudited) that resulted from the above referenced hedging transactions was $1.

The fair value of the outstanding derivative instruments as of September 30, 2015 (unaudited) and June 30, 2015 is summarized below:

(*) Estimated to be reclassified into earnings during 2016.

The effect of derivative instruments in cash flow hedging transactions on income and other comprehensive income (“OCI”) for the three months ended September 30, 2015 and 2014 is summarized below:

	Gains on Derivatives Recognized in OCI
	for the three months ended
	September 30,
	2015	2014
	(unaudited)

Foreign exchange forward contracts	37	-

	Gains (Losses) Reclassified from OCI into Income
	for the three months ended
	September 30,
	2015	2014
	(unaudited)

Foreign exchange forward contracts	(1)	-

g. Intangible assets:

On March 9, 2015, the Company and Beacon Power LLC, a Delaware limited liability company (“Beacon”) entered into a patent purchase agreement under which the Company agreed to purchase all rights in the patents. In July 2015 the Company completed the purchase of the patents for $800.

The patents are stated at cost, net of accumulated amortization. Amortization is calculated by the straight-line method over 10 years, which represents the estimated useful lives of the patents.

Amortization expenses for the three months ended September 30, 2015 (unaudited) were $21.

h. Accumulated other comprehensive loss:

The following table summarizes the changes in accumulated balances of other comprehensive loss for the three months ended September 30, 2015 (unaudited):

	Unrealized gains (losses) on cash flow hedges	Unrealized gains (losses) on foreign currency translation	Total

Beginning balance	$ -	$ (222)	$ (222)
Other comprehensive income (loss) before reclassifications	37	(41)	(4)
Losses reclassified from accumulated other comprehensive income (loss)	1	-	1
Net current period other comprehensive income (loss)	38	(41)	(3)

Ending balance	$ 38	$ (263)	$ (225)

INVENTORIES

3 Months Ended

Sep. 30, 2015

INVENTORIES [Abstract]

INVENTORIES

NOTE 2:-

INVENTORIES

	September 30, 2015		June 30, 2015
	Unaudited

Raw materials	$	16,870	$	14,405
Finished goods		63,037		59,545

	$	79,907	$	73,950

WARRANTY OBLIGATIONS

3 Months Ended

Sep. 30, 2015

WARRANTY OBLIGATIONS [Abstract]

WARRANTY OBLIGATIONS

NOTE 3:-

WARRANTY OBLIGATIONS

Changes in the Company's product warranty liability for the three months ended September 30, 2015 and 2014 were as follows:

	Three months ended September 30,
	2015			2014
	(unaudited)

Balance, at beginning of period	$	31,879		$	18,181
Additions and adjustments to cost of revenues		6,295			4,244
Usage and current warranty expenses		(2,270	)		(1,143	)

Balance, at end of period		35,904			21,282
Less current portion		(10,587	)		(6,063	)

Long term portion	$	25,317		$	15,219

REVOLVING CREDIT LINE

3 Months Ended

Sep. 30, 2015

REVOLVING CREDIT LINE [Abstract]

REVOLVING CREDIT LINE

NOTE 4:-

REVOLVING CREDIT LINE

In June 2011, the Company entered into an agreement for a revolving line of credit from a Bank Lender (the "Bank Lender").

On February 17, 2015, the Company amended and restated the agreement with the Bank Lender for a revolving line of credit, which permits aggregate borrowings of up to $40 million in an amount not to exceed 80% of the eligible accounts receivable and bears interest, payable monthly, at the Bank Lender's prime rate plus a margin of 0.5% to 2.0%. The amended and restated revolving line of credit will terminate, and outstanding borrowings will be payable, on December 31, 2016.

In connection with the amended and restated revolving line of credit, the Company granted the Bank Lender security interests in substantially all of the Company's assets, including a first priority security interest in the Company's trade receivables, cash and cash equivalents. Financial covenants contained in the agreement require the Company to maintain EBITDA and liquidity at specified levels.

The Company is required to maintain liquidity (defined as unrestricted and unencumbered cash, plus availability under the amended and restated revolving line of credit) of $6,750.

The amended and restated revolving line of credit also contains covenants that restrict the Company's ability to dispose of assets, engage in business combinations (or permit a subsidiary to engage in business combinations), grant liens, borrow money, or pay dividends.

As of September 30, 2015 (unaudited) and June 30, 2015, the Company met all its Bank Lender covenants.

As of September 30, 2015 (unaudited), the Company had no outstanding borrowings pursuant to this revolving line of credit.

FAIR VALUE MEASUREMENTS

3 Months Ended

Sep. 30, 2015

FAIR VALUE MEASUREMENTS [Abstract]

FAIR VALUE MEASUREMENTS

NOTE 5:-

FAIR VALUE MEASUREMENTS

The Company evaluates assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level to classify them for each reporting period. There have been no transfers between fair value measurements levels during the three months ended September 30, 2015.

The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis whereby inputs, used in valuation techniques, are assigned a hierarchical level. The following are the hierarchical levels of inputs to measure fair value:

Level 1-

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

Level 2-

Include other inputs that are directly or indirectly observable in the marketplace.

Level 3-

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

The following table sets forth the Company's assets that were measured at fair value as of September 30, 2015 (unaudited) by level within the fair value hierarchy:

	Balance as of	Fair value measurements
Description	September 30, 2015 (unaudited)	Level 1	Level 2	Level 3

Derivative instruments asset	$ 301	-	$ 301	-

The following table sets forth the Company's assets that were measured at fair value as of June 30, 2015 by level within the fair value hierarchy:

	Balance as of	Fair value measurements
Description	June 30, 2015	Level 1	Level 2	Level 3

Derivative instruments asset	$ 859	-	$ 859	-

In addition to the assets described above, the Company's financial instruments also include cash and cash equivalents, restricted and short-term deposits, trade receivables, other accounts receivable, trade payables, accrued expenses and other payables. The fair value of these financial instruments was not materially different from their carrying values on September 30, 2015 due to the short-term maturity of these instruments.

- Definition

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

+ References + Details

LEASE INCENTIVE OBLIGATION

3 Months Ended

Sep. 30, 2015

LEASE INCENTIVE OBLIGATION[Abstract]

LEASE INCENTIVE OBLIGATION

NOTE 6:-

LEASE INCENTIVE OBLIGATION

The Company has an operating lease agreement for a building in Herzilia, Israel. In connection with this lease, the Company and its third party lessor (the "Lessor"), agreed that the Lessor would pay approximately $2,937 for certain leasehold improvements on behalf of the Company.

As of September 30, 2015 (unaudited), the Company received in cash $2,875 from the Lessor. These leasehold improvements are accounted for as a lease incentive obligation, which is recorded under long-term liabilities, net of the current portion recorded in accrued expenses and other accounts payable under current liabilities. The lease incentive obligation is being amortized over the life of the lease and as a reduction to rent expense.

COMMITMENTS AND CONTINGENT LIABILITIES

3 Months Ended

Sep. 30, 2015

COMMITMENTS AND CONTINGENT LIABILITIES [Abstract]

COMMITMENTS AND CONTINGENT LIABILITIES

NOTE 7:-

COMMITMENTS AND CONTINGENT LIABILITIES

Lease commitments:

The Company and its subsidiaries lease their operating facilities under non-cancelable operating lease agreements, which expire over the next ten years, with the last ending in December 2024.

The future minimum lease commitments of the Company and its subsidiaries under various non-cancelable operating lease agreements in respect of premises that are in effect as of September 30, 2015 (unaudited), are as follows:

Year ended June 30,	(unaudited)

2016		1,692
2017		2,122
2018		2,041
2019		1,906
2020 and thereafter		8,319

		16,080

Rent expenses for the three months ended September 30, 2015 (unaudited) and 2014 (unaudited) were approximately $535 and $315, respectively.

Guarantees:

As of September 30, 2015 (unaudited), contingent liabilities exist regarding guarantees in the amount of $780, $51 and $82 in respect of office rent lease agreements, customs transactions and credit card limits, respectively.

Royalty and Governmental commitments:

As of September 30, 2015 (unaudited), the aggregate contingent liability to the Binational Industrial Research and Development Foundation (BIRD F) amounted to approximately $1,131 which would be payable by the Company if it ever did generate revenues from such project.

As of September 30, 2015 (unaudited), the aggregate contingent liability to the Office of the Chief Scientist (the OCS) amounted to $743.

Contractual purchase obligations:

The Company has contractual obligations to purchase goods and raw materials. These contractual purchase obligations relate to inventories held by contract manufacturers and purchase orders initiated by the contract manufacturers and suppliers, which cannot be canceled without penalty. The Company utilizes third parties to manufacture its products. In addition, it acquires raw materials or other goods and services, including product components, by issuing to suppliers authorizations to purchase based on its projected demand and manufacturing needs. As of September 30, 2015 (unaudited), the Company had non-cancelable purchase obligations totaling approximately $72,781 out of which the Company already recorded a provision for loss in the amount of $1,552.

Legal claims:

From time to time, the Company may be involved in various claims and legal proceedings. The Company reviews the status of each matter and assesses its potential financial exposure. If the potential loss from any claim or legal proceeding is considered probable and the amount can be reasonably estimated, the Company accrues a liability for the estimated loss. These accruals are reviewed at least quarterly and adjusted to reflect the impact of negotiations, settlements, rulings, advice of legal counsel and other information and events pertaining to a particular matter.

STOCK CAPITAL

3 Months Ended

Sep. 30, 2015

STOCK CAPITAL [Abstract]

STOCK CAPITAL

NOTE 8:-

STOCK CAPITAL

On March 23, 2015, the Company's board of directors and the requisite holders of the Company's capital stock consented to a 1-for-3 reverse stock split of the Company's common stock. As a result of the reverse stock split, (i) every 3 shares of authorized, issued and outstanding common stock was decreased to one share of authorized, issued and outstanding common stock, (ii) the number of shares of common stock into which each outstanding warrant or option to purchase common stock is exercisable was proportionally decreased on a 1-for-3 basis, (iii) all share prices and exercise prices were proportionately increased. All of the share numbers, share prices, and exercise prices have been adjusted within these consolidated financial statements, on a retroactive basis, to reflect this 1-for-3 reverse stock split.

Common Stock:

Authorized

Issued and outstanding

Number of shares

September 30,

2015

June 30,

2015

September 30,

2015

June 30,

2015

(unaudited)

Stock of $0.0001 par value:

Common stock

125,000,000

39,303,892

39,297,539

Stock Incentive plans:

The Company's 2007 Global Incentive Plan (the “2007 Plan”) was adopted by the board of directors on August 30, 2007. On March 31, 2015, once the Company completed its Initial Public Offering (“IPO”), the 2007 Plan has been terminated and no further awards will be granted thereunder. All outstanding awards will continue to be governed by their existing terms and 379,358 available options for future grant were transferred to the Company's 2015 Global Incentive Plan (the “2015 Plan”) and are reserved for future issuances under the 2015 plan.

The 2015 Plan became effective upon the consummation of the IPO. The 2015 Plan provides for the grant of options, RSUs and other share-based awards to directors, employees, officers and consultants of the Company and its Subsidiaries. As of September 30, 2015 (unaudited), a total of 1,822,484 (unaudited) shares of common stock were reserved for issuance under the 2015 Plan (the “Share Reserve”). The Share Reserve will automatically increase on January 1st of each year during the term of the 2015 Plan commencing on January 1st of the year following the year in which the 2015 Plan becomes effective in an amount equal to five percent (5%) of the total number of shares of capital stock outstanding on December 31st of the preceding calendar year; provided, however, that our board of directors may provide that there will not be a January 1st increase in the Share Reserve in a given year or that the increase will be less than five percent (5%) of the shares of capital stock outstanding on the preceding December 31st. The aggregate maximum number of shares of common stock that may be issued on the exercise of incentive stock options is ten million (10,000,000).

As of September 30, 2015 (unaudited), an aggregate of 876,020 shares of common stock are still available for future grant under the 2015 Plan.

A summary of the activity in the share options and RSUs granted to employees and members of the board of directors for the three months ended September 30, 2015 (unaudited) and related information follows:

						Weighted
						average
				Weighted		remaining
	Number			average		contractual		Aggregate
	of			exercise		term		intrinsic
	Options/RSUs			price		in years		Value

Outstanding as of July 1, 2015		6,102,222		$	3.10		7.08	$	202,889
Options granted		228,800		$	25.09
RSUs granted		630,056			-
Exercised		(3,923	)	$	2.62
Forfeited or expired		(15,844	)	$	2.35
Outstanding as of September 30, 2015		6,941,311		$	3.55		7.21	$	134,964

Vested and expected to vest as of September 30, 2015		6,582,179		$	3.51		7.10	$	128,191

Exercisable as of September 30, 2015		3,793,798		$	2.28		5.63	$	78,326

The aggregate intrinsic value represents the total intrinsic value (the difference between the fair value of the Company's common stock as of the last day of each period and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option and RSU holders had all option and RSU holders exercised their options and RSU on the last day of each period. The total intrinsic value of options exercised during the three months ended on September 30, 2015 (unaudited) was $107.

The weighted average grant date fair values of options and RSUs granted to employees and executive directors during the three months ended September 30, 2015 (unaudited) was $25.09.

The options and RSUs outstanding as of September 30, 2015 (unaudited) have been separated into exercise price ranges as follows:

			Weighted		Options		Weighted
	Outstanding		average		exercisable		average
Range of	as of		remaining		as of		remaining
exercise	September 30,		contractual		September 30,		contractual
price	2015		Life in years		2015		Life in years

$0.00 (RSUs)		689,497		9.86		-		-
$0.50 - $1.50		1,244,156		3.43		1,244,156		3.43
$1.68 - $2.46		2,089,547		6.04		1,896,126		5.99
$3.03 - $3.96		661,501		8.29		291,659		8.24
$5.01 - $5.04		1,994,482		9.17		361,857		9.15
$9.36		33,328		9.34		-		-
$25.09		228,800		9.89		-		-

		6,941,311		7.21		3,793,798		5.63

Options and RSUs issued to non-employee consultants:

The Company has granted options and RSUs to purchase common shares to non-employee consultants as of September 30, 2015 (unaudited) as follows:

	Outstanding				Exercisable
	as of				as of
Issuance	September 30,		Exercise		September 30,		Exercisable
Date	2015		price		2015		Through

July 31, 2008		33,333		0.87		33,333	July 31, 2018
January 26, 2011		5,000		2.01		5,000	January 26, 2021
January 26, 2012		33,333		2.46		33,333	January 26, 2022
October 24, 2012		6,666		2.46		5,000	October 24, 2022
January 23, 2013		3,333		3.03		2,361	January 23, 2023
January 27, 2014		4,998		3.51		1,943	January 27, 2024
May 1, 2014		6,000		3.51		2,417	May 1, 2024
September 17, 2014		10,830		3.96		3,436	September 17, 2024
October 29, 2014		6,668		5.01		1,222	October 29, 2024
August 19, 2015		28,167		0.00		-

		138,328				88,045

The Company had accounted for its options and RSUs granted to non-employee consultants under the fair value method of ASC 505-50.

In connection with the grant of stock options and RSUs to non-employee consultants, the Company recorded stock compensation expenses in the three months ended September 30, 2015 (unaudited) and 2014 (unaudited) in the amounts $119 and $23, respectively.

Stock-based compensation expense for employees and consultants:

The Company recognized stock-based compensation expenses related to stock options and RSUs granted to employees and non-employees in the consolidated statement of operations for the three months ended on September 30, 2015 (unaudited) and 2014 (unaudited), as follows:

	Three months ended September 30, 2015		Three months ended September 30, 2014

Cost of revenues	$	180	$	37
Research and development		395		110
Selling and marketing		616		102
General and administrative		641		71

Total stock-based compensation expense	$	1,832	$	320

As of September 30, 2015 (unaudited) there was a total unrecognized compensation expense of $27,866 related to non-vested equity-based compensation arrangements granted under the Company's Plans. These expenses are expected to be recognized during the period from Oct 1, 2015 through October 31, 2019.

BASIC AND DILUTED NET EARNINGS PER SHARE

3 Months Ended

Sep. 30, 2015

BASIC AND DILUTED NET EARNINGS PER SHARE [Abstract]

BASIC AND DILUTED NET EARNINGS PER SHARE

NOTE 9:-

BASIC AND DILUTED NET EARNINGS PER SHARE

Basic net earnings per share is computed by dividing the net earnings by the weighted-average number of shares of common stock outstanding during the period.

The total weighted average number of shares related to the outstanding stock options, convertible preferred stock and warrants to purchase convertible preferred stock and common stock, excluded from the calculation of diluted net earnings per share due to their anti-dilutive effect was 0 and 1,552,809 for the three months ended September 30, 2015 (unaudited) and 2014 (unaudited), respectively.

Basic and diluted earnings per share is presented in conformity with the two-class method for participating securities for the periods prior to their conversion. Under this method the earnings per share for each class of shares are calculated assuming 100% of the Company's earnings are distributed as dividends to each class of shares based on their contractual rights.

The following table presents the computation of basic and diluted net earnings per share for the periods presented (in thousands, except per share data):

		Three months ended September 30,
		2015		2014
	(unaudited)
Numerator:
Net income			14,432		2,520
Dividends accumulated for the period			-		(2,520	)
Net income available to shareholders of common stock			14,432		-

Denominator:
Shares used in computing net earnings per share of common stock, basic			39,301,620		2,812,684

Numerator:
Net income			14,432		2,520
Dividends accumulated for the period			-		(2,520	)
Net income available to shareholders of common stock			14,432		-

Denominator:
Shares used in computing net earnings per share of common stock, diluted			44,455,964		2,812,684

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

3 Months Ended

Sep. 30, 2015

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS [Abstract]

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

NOTE 10:-

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

For the three month period ended September 30, 2015 (unaudited), the Company had two major customers that accounted for approximately 25.8% of its consolidated revenues. For the year ended June 30, 2015, the Company had one major customer that accounted for 24.6% of the Company's consolidated revenues.

As of September 30, 2015 (unaudited), three customers accounted for 49.5% of the Company's net accounts receivable, and as of June 30, 2015, one customer accounted for 30.0% of the Company's net accounts receivable.

GENERAL (Tables)

3 Months Ended

Sep. 30, 2015

GENERAL [Abstract]

Schedule of Fair Value of Derivative Instruments

Schedule of Derivative Instruments Gains Recognized in OCI

	Gains on Derivatives Recognized in OCI
	for the three months ended
	September 30,
	2015	2014
	(unaudited)

Foreign exchange forward contracts	37	-

Schedule of Derivative Gains (Losses) Reclassified From OCI Into Income

	Gains (Losses) Reclassified from OCI into Income
	for the three months ended
	September 30,
	2015	2014
	(unaudited)

Foreign exchange forward contracts	(1)	-

Changes in Accumulated Balance of Other Comprehensive Loss

	Unrealized gains (losses) on cash flow hedges	Unrealized gains (losses) on foreign currency translation	Total

Beginning balance	$ -	$ (222)	$ (222)
Other comprehensive income (loss) before reclassifications	37	(41)	(4)
Losses reclassified from accumulated other comprehensive income (loss)	1	-	1
Net current period other comprehensive income (loss)	38	(41)	(3)

Ending balance	$ 38	$ (263)	$ (225)

INVENTORIES (Tables)

3 Months Ended

Sep. 30, 2015

INVENTORIES [Abstract]

Schedule of inventories

	September 30, 2015		June 30, 2015
	Unaudited

Raw materials	$	16,870	$	14,405
Finished goods		63,037		59,545

	$	79,907	$	73,950

WARRANTY OBLIGATIONS (Tables)

3 Months Ended

Sep. 30, 2015

WARRANTY OBLIGATIONS [Abstract]

Schedule of warranty obligations

	Three months ended September 30,
	2015			2014
	(unaudited)

Balance, at beginning of period	$	31,879		$	18,181
Additions and adjustments to cost of revenues		6,295			4,244
Usage and current warranty expenses		(2,270	)		(1,143	)

Balance, at end of period		35,904			21,282
Less current portion		(10,587	)		(6,063	)

Long term portion	$	25,317		$	15,219

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Sep. 30, 2015

FAIR VALUE MEASUREMENTS [Abstract]

Schedule of assets and liabilities measured at fair value by level

	Balance as of	Fair value measurements
Description	September 30, 2015 (unaudited)	Level 1	Level 2	Level 3

Derivative instruments asset	$ 301	-	$ 301	-

	Balance as of	Fair value measurements
Description	June 30, 2015	Level 1	Level 2	Level 3

Derivative instruments asset	$ 859	-	$ 859	-

COMMITMENTS AND CONTINGENT LIABILITIES (Tables)

3 Months Ended

Sep. 30, 2015

COMMITMENTS AND CONTINGENT LIABILITIES [Abstract]

Schedule of future minimum lease commitments

Year ended June 30,	(unaudited)

2016		1,692
2017		2,122
2018		2,041
2019		1,906
2020 and thereafter		8,319

		16,080

STOCK CAPITAL (Tables)

3 Months Ended

Sep. 30, 2015

STOCK CAPITAL [Abstract]

Schedule of composition of common stock capital

Authorized

Issued and outstanding

Number of shares

September 30,

2015

June 30,

2015

September 30,

2015

June 30,

2015

(unaudited)

Stock of $0.0001 par value:

Common stock

125,000,000

39,303,892

39,297,539

Option [Member]

STOCK CAPITAL

Schedule of recognized stock-based compensation expenses

	Three months ended September 30, 2015		Three months ended September 30, 2014

Cost of revenues	$	180	$	37
Research and development		395		110
Selling and marketing		616		102
General and administrative		641		71

Total stock-based compensation expense	$	1,832	$	320

Option [Member] | Employees and members of the board of directors [Member]

STOCK CAPITAL

Summary of the activity in the share options

						Weighted
						average
				Weighted		remaining
	Number			average		contractual		Aggregate
	of			exercise		term		intrinsic
	Options/RSUs			price		in years		Value

Outstanding as of July 1, 2015		6,102,222		$	3.10		7.08	$	202,889
Options granted		228,800		$	25.09
RSUs granted		630,056			-
Exercised		(3,923	)	$	2.62
Forfeited or expired		(15,844	)	$	2.35
Outstanding as of September 30, 2015		6,941,311		$	3.55		7.21	$	134,964

Vested and expected to vest as of September 30, 2015		6,582,179		$	3.51		7.10	$	128,191

Exercisable as of September 30, 2015		3,793,798		$	2.28		5.63	$	78,326

Schedule of exercise price range of options

			Weighted		Options		Weighted
	Outstanding		average		exercisable		average
Range of	as of		remaining		as of		remaining
exercise	September 30,		contractual		September 30,		contractual
price	2015		Life in years		2015		Life in years

$0.00 (RSUs)		689,497		9.86		-		-
$0.50 - $1.50		1,244,156		3.43		1,244,156		3.43
$1.68 - $2.46		2,089,547		6.04		1,896,126		5.99
$3.03 - $3.96		661,501		8.29		291,659		8.24
$5.01 - $5.04		1,994,482		9.17		361,857		9.15
$9.36		33,328		9.34		-		-
$25.09		228,800		9.89		-		-

		6,941,311		7.21		3,793,798		5.63

Option [Member] | Non-employee consultants

STOCK CAPITAL

Summary of the activity in the share options

	Outstanding				Exercisable
	as of				as of
Issuance	September 30,		Exercise		September 30,		Exercisable
Date	2015		price		2015		Through

July 31, 2008		33,333		0.87		33,333	July 31, 2018
January 26, 2011		5,000		2.01		5,000	January 26, 2021
January 26, 2012		33,333		2.46		33,333	January 26, 2022
October 24, 2012		6,666		2.46		5,000	October 24, 2022
January 23, 2013		3,333		3.03		2,361	January 23, 2023
January 27, 2014		4,998		3.51		1,943	January 27, 2024
May 1, 2014		6,000		3.51		2,417	May 1, 2024
September 17, 2014		10,830		3.96		3,436	September 17, 2024
October 29, 2014		6,668		5.01		1,222	October 29, 2024
August 19, 2015		28,167		0.00		-

		138,328				88,045

- 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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=27011957&loc=d3e177068-122764

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21553-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6403732&loc=d3e21300-112643

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.28,29)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 30
-Article 5

+ Details

BASIC AND DILUTED NET EARNINGS PER SHARE (Tables)

3 Months Ended

Sep. 30, 2015

BASIC AND DILUTED NET EARNINGS PER SHARE [Abstract]

Schedule of computation of basic and diluted net earnings (loss) per share

		Three months ended September 30,
		2015		2014
	(unaudited)
Numerator:
Net income			14,432		2,520
Dividends accumulated for the period			-		(2,520	)
Net income available to shareholders of common stock			14,432		-

Denominator:
Shares used in computing net earnings per share of common stock, basic			39,301,620		2,812,684

Numerator:
Net income			14,432		2,520
Dividends accumulated for the period			-		(2,520	)
Net income available to shareholders of common stock			14,432		-

Denominator:
Shares used in computing net earnings per share of common stock, diluted			44,455,964		2,812,684

GENERAL (Details) $ in Thousands, € in Millions	1 Months Ended	3 Months Ended		12 Months Ended
GENERAL (Details) $ in Thousands, € in Millions	Jul. 31, 2015 USD ($)	Sep. 30, 2015 USD ($) item	Sep. 30, 2014 USD ($)	Jun. 30, 2015 USD ($)	Sep. 30, 2015 EUR (€)
General [Line Items]
Number of contract manufacturers \| item		2
Number of vendors \| item		2
Derivative financial instruments
Notional amount of derivative contract		$ 23,217			€ 6
Fair value of derivative liabilities current		41
Fair value of derivative assets current		342
Net derivative assets		301		$ 859
Loss from hedging transactions recorded in general and administrative expenses		1
Foreign exchange forward contracts		301		$ 859
Changes in unrealized gains (losses)		37
Reclassification adjustments for losses included in net income		1
Consideration paid for patents	$ 800	$ 800
Useful lives of patents		10 years
Amortization of intangible assets		$ 21
Trade payables [Member]
General [Line Items]
Concentration risk (as a percent)		71.00%		79.00%

GENERAL (Changes in Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Beginning balance	$ (222)
Other comprehensive income (loss) before reclassifications	(4)
Losses reclassified from accumulated other comprehensive income (loss)	1
Net current period other comprehensive income (loss)	(3)	$ (125)
Ending balance	(225)
Unrealized gains (losses) on cash flow hedges [Member]
Beginning balance
Other comprehensive income (loss) before reclassifications	37
Losses reclassified from accumulated other comprehensive income (loss)	1
Net current period other comprehensive income (loss)	38
Ending balance	38
Unrealized gains (losses) on foreign currency translation [Member]
Beginning balance	(222)
Other comprehensive income (loss) before reclassifications	(41)
Losses reclassified from accumulated other comprehensive income (loss)
Net current period other comprehensive income (loss)	(41)
Ending balance	$ (263)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

INVENTORIES (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015
INVENTORIES [Abstract]
Raw materials	$ 16,870	$ 14,405
Finished goods	63,037	59,545
Inventories	$ 79,907	$ 73,950

WARRANTY OBLIGATIONS (Details) - USD ($) $ in Thousands	3 Months Ended
WARRANTY OBLIGATIONS (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015
Changes in the Company's product warranty liability
Balance, at beginning of year	$ 31,879	$ 18,181
Additions and adjustments to cost of revenues	6,295	4,244
Usage and current warranty expenses	(2,270)	(1,143)
Balance, at end of year	35,904	21,282
Less current portion	(10,587)	(6,063)	$ (9,431)
Long term portion	$ 25,317	$ 15,219	$ 22,448

REVOLVING CREDIT LINE (Details) - Revolving line of credit [Member] $ in Thousands	Feb. 17, 2015 USD ($)
REVOLVING CREDIT LINE [Line Items]
Aggregate borrowings	$ 40,000
Maximum specified percentage of eligible trade receivables considered for determining maximum borrowing capacity	80.00%
Description of variable rate basis	<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">Bank Lender's prime rate</div>
Termination date	Dec. 31, 2016
Amount of liquidity need to maintain	$ 6,750
Minimum [Member]
REVOLVING CREDIT LINE [Line Items]
Applicable margin (as a percent)	0.50%
Maximum [Member]
REVOLVING CREDIT LINE [Line Items]
Applicable margin (as a percent)	2.00%

FAIR VALUE MEASUREMENTS (Details) - Derivative Financial Instruments, Assets [Member] - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015
FAIR VALUE MEASUREMENTS [Line Items]
Fair value of assets	$ 301	$ 859
Level 1 [Member]
FAIR VALUE MEASUREMENTS [Line Items]
Fair value of assets
Level 2 [Member]
FAIR VALUE MEASUREMENTS [Line Items]
Fair value of assets	301	859
Level 3 [Member]
FAIR VALUE MEASUREMENTS [Line Items]
Fair value of assets

LEASE INCENTIVE OBLIGATION (Details) $ in Thousands	Sep. 30, 2015 USD ($)
LEASE INCENTIVE OBLIGATION[Abstract]
Operating lease receivable	$ 2,937
Received in cash from the Lessor	$ 2,875

COMMITMENTS AND CONTINGENT LIABILITIES (Schedule of Future Minimum Lease Commitments) (Details) $ in Thousands	Sep. 30, 2015 USD ($)
Future minimum lease commitments
2016	$ 1,692
2017	2,122
2018	2,041
2019	1,906
2020 and thereafter	8,319
Future minimum lease commitments amount	$ 16,080

COMMITMENTS AND CONTINGENT LIABILITIES (Narrative) (Lease commitments, Guarantees, Royalty commitments, Governmental commitments, Contractual purchase obligations) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Lease commitments
Contract term	10 years
Rent expenses	$ 535	$ 315
Royalty commitments
Aggregate contingent liability to the BIRD-F amount	1,131
Governmental commitments
Governmental commitments amount	743
Contractual purchase obligations
Non-cancelable purchase obligations	72,781
Provision for contractual inventory purchase obligations	1,552
Office rent lease agreements [Member]
Guarantees [line Items]
Guarantees amount	780
Customs transactions [Member]
Guarantees [line Items]
Guarantees amount	51
Credit card limits [Member]
Guarantees [line Items]
Guarantees amount	$ 82

STOCK CAPITAL (Common Stock) (Details)	3 Months Ended
STOCK CAPITAL (Common Stock) (Details)	Sep. 30, 2015 $ / shares shares	Jun. 30, 2015 $ / shares shares
STOCK CAPITAL [Abstract]
Reverse stock split ratio	0.33
Common stock capital
Par value \| $ / shares	$ 0.0001	$ 0.0001
Authorized	125,000,000	125,000,000
Issued and outstanding	39,303,892	39,297,539

STOCK CAPITAL (Stock option plans) (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Dec. 31, 2014	Sep. 30, 2015
Option [Member]
Stock option plans
Number of options are available for future grant under the plan		379,358
Unrecognized compensation expense		$ 27,866
Option [Member] \| 2015 Plan
Stock option plans
Number of options reserved for issuance under the plan		1,822,484
Percentage of common shares increase automatically in each year		5.00%
Option [Member] \| Maximum [Member] \| 2015 Plan
Stock option plans
Percentage of common shares increase automatically in each year	5.00%
Option [Member] \| Employees and members of the board of directors [Member]
Stock option plans
Intrinsic value of options exercised		$ 107
Employee Stock Purchase Plan [Member]
Stock option plans
Number of options reserved for issuance under the plan		876,020
Options and RSUs [Member] \| Employees and members of the board of directors [Member]
Stock option plans
Weighted average grant date fair values options granted to employees and executive directors		$ 25.09

STOCK CAPITAL (Summary of the activity in the share options and RSUs) (Details) - Employees and members of the board of directors [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2015	Jun. 30, 2014
Option [Member]
Number of options
Granted	228,800
Weighted average exercise price
Granted	$ 25.09
Restricted Stock Units (RSUs) [Member]
Number of options
Granted	630,056
Weighted average exercise price
Granted
Options and RSUs [Member]
Number of options
Outstanding at the beginning of the period	6,102,222
Exercised	(3,923)
Forfeited or expired	(15,844)
Outstanding at the end of the period	6,941,311
Weighted average exercise price
Outstanding at the beginning of the period	$ 3.10
Exercised	2.62
Forfeited or expired	2.35
Outstanding at the end of the period	$ 3.55
Weighted average remaining contractual term in years
Outstanding	7 years 2 months 16 days	7 years 29 days
Aggregate intrinsic Value
Outstanding at the beginning of the period	$ 202,889
Outstanding at the end of the period	$ 134,964
Vested and expected to vest at the end of the period
Number of options	6,582,179
Weighted average exercise price	$ 3.51
Weighted average remaining contractual term in years	7 years 1 month 6 days
Aggregate intrinsic Value	$ 128,191
Exercisable at the end of the period
Number of options	3,793,798
Weighted average exercise price	$ 2.28
Weighted average remaining contractual term in years	5 years 7 months 17 days
Aggregate intrinsic Value	$ 78,326

STOCK CAPITAL (Schedule of exercise price ranges) (Details) - Employees and members of the board of directors [Member]	3 Months Ended
	Sep. 30, 2015 $ / shares shares
Range of exercise price [Line Items]
Outstanding	6,941,311
Weighted average remaining contractual Life in years	7 years 2 months 16 days
Exercisable	3,793,798
Weighted average remaining contractual Life in years	5 years 7 months 17 days
$0.00 [Member]
Range of exercise price [Line Items]
Exercise price \| $ / shares	$ 0.00
Outstanding	689,497
Weighted average remaining contractual Life in years	9 years 10 months 10 days
Exercisable
Weighted average remaining contractual Life in years
$0.50 - $1.50 [Member]
Range of exercise price [Line Items]
Range of exercise price, lower \| $ / shares	$ 0.50
Range of exercise price, upper \| $ / shares	$ 1.50
Outstanding	1,244,156
Weighted average remaining contractual Life in years	3 years 5 months 5 days
Exercisable	1,244,156
Weighted average remaining contractual Life in years	3 years 5 months 5 days
$1.68 - $2.46 [Member]
Range of exercise price [Line Items]
Range of exercise price, lower \| $ / shares	$ 1.68
Range of exercise price, upper \| $ / shares	$ 2.46
Outstanding	2,089,547
Weighted average remaining contractual Life in years	6 years 14 days
Exercisable	1,896,126
Weighted average remaining contractual Life in years	5 years 11 months 26 days
$3.03 - $3.96 [Member]
Range of exercise price [Line Items]
Range of exercise price, lower \| $ / shares	$ 3.03
Range of exercise price, upper \| $ / shares	$ 3.96
Outstanding	661,501
Weighted average remaining contractual Life in years	8 years 3 months 14 days
Exercisable	291,659
Weighted average remaining contractual Life in years	8 years 2 months 26 days
$5.01 - $5.04 [Member]
Range of exercise price [Line Items]
Range of exercise price, lower \| $ / shares	$ 5.01
Range of exercise price, upper \| $ / shares	$ 5.04
Outstanding	1,994,482
Weighted average remaining contractual Life in years	9 years 2 months 1 day
Exercisable	361,857
Weighted average remaining contractual Life in years	9 years 1 month 24 days
$9.36 [Member]
Range of exercise price [Line Items]
Exercise price \| $ / shares	$ 9.36
Outstanding	33,328
Weighted average remaining contractual Life in years	9 years 4 months 2 days
Exercisable
Weighted average remaining contractual Life in years
$25.09 [Member]
Range of exercise price [Line Items]
Exercise price \| $ / shares	$ 25.09
Outstanding	228,800
Weighted average remaining contractual Life in years	9 years 10 months 20 days
Exercisable
Weighted average remaining contractual Life in years

STOCK CAPITAL (Options and RSUs issued to non-employee consultants) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Stock option plans
Stock compensation expenses	$ 1,832	$ 320
Non-employee consultants
Stock option plans
Stock compensation expenses	$ 119	$ 23
Options and RSUs [Member] \| Non-employee consultants
Stock option plans
Outstanding at the end of the period	138,328
Exercisable at the end of the period	88,045
Options and RSUs [Member] \| Non-employee consultants \| July 31, 2008 [Member]
Stock option plans
Outstanding at the end of the period	33,333
Exercise price	$ 0.87
Exercisable at the end of the period	33,333
Options and RSUs [Member] \| Non-employee consultants \| January 26, 2011 [Member]
Stock option plans
Outstanding at the end of the period	5,000
Exercise price	$ 2.01
Exercisable at the end of the period	5,000
Options and RSUs [Member] \| Non-employee consultants \| January 26, 2012 [Member]
Stock option plans
Outstanding at the end of the period	33,333
Exercise price	$ 2.46
Exercisable at the end of the period	33,333
Options and RSUs [Member] \| Non-employee consultants \| October 24, 2012 [Member]
Stock option plans
Outstanding at the end of the period	6,666
Exercise price	$ 2.46
Exercisable at the end of the period	5,000
Options and RSUs [Member] \| Non-employee consultants \| January 23, 2013 [Member]
Stock option plans
Outstanding at the end of the period	3,333
Exercise price	$ 3.03
Exercisable at the end of the period	2,361
Options and RSUs [Member] \| Non-employee consultants \| January 27, 2014 [Member]
Stock option plans
Outstanding at the end of the period	4,998
Exercise price	$ 3.51
Exercisable at the end of the period	1,943
Options and RSUs [Member] \| Non-employee consultants \| May 1, 2014 [Member]
Stock option plans
Outstanding at the end of the period	6,000
Exercise price	$ 3.51
Exercisable at the end of the period	2,417
Options and RSUs [Member] \| Non-employee consultants \| September 17, 2014 [Member]
Stock option plans
Outstanding at the end of the period	10,830
Exercise price	$ 3.96
Exercisable at the end of the period	3,436
Options and RSUs [Member] \| Non-employee consultants \| October 29, 2014 [Member]
Stock option plans
Outstanding at the end of the period	6,668
Exercise price	$ 5.01
Exercisable at the end of the period	1,222
Options and RSUs [Member] \| Non-employee consultants \| August 19, 2015 [Member]
Stock option plans
Outstanding at the end of the period	28,167
Exercise price	$ 0.00
Exercisable at the end of the period

STOCK CAPITAL (Schedule of stock-based compensation expense for employees and consultants) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Stock-based compensation expenses
Total stock-based compensation expense	$ 1,832	$ 320
Cost of revenues [Member]
Stock-based compensation expenses
Total stock-based compensation expense	180	37
Research and development [Member]
Stock-based compensation expenses
Total stock-based compensation expense	395	110
Selling and marketing [Member]
Stock-based compensation expenses
Total stock-based compensation expense	616	102
General and administrative [Member]
Stock-based compensation expenses
Total stock-based compensation expense	$ 641	$ 71

BASIC AND DILUTED NET EARNINGS PER SHARE (Narrative) (Details) - shares	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
BASIC AND DILUTED NET EARNINGS PER SHARE [Abstract]
Total weighted average number of shares related to the outstanding stock options, convertible preferred stock and warrants to purchase convertible preferred stock and common stock, excluded from the calculation of diluted net earnings (loss) per share due to their anti-dilutive effect	0	1,552,809

BASIC AND DILUTED NET EARNINGS PER SHARE (Schedule of Computation of Basic and Diluted Net Earnings (Loss) Per Share) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Numerator:
Net income (loss)	$ 14,432	$ 2,520
Dividends accumulated for the period
Net income (loss) available to shareholders of common stock	$ 14,432
Denominator:
Shares used in computing net earnings (loss) per share of common stock, basic (in shares)	39,301,620	2,812,684
Numerator:
Net income (loss)	$ 14,432	$ 2,520
Dividends accumulated for the period
Net income (loss) available to shareholders of common stock	$ 14,432
Denominator:
Shares used in computing net earnings (loss) per share of common stock, diluted (in shares)	44,455,964	2,812,684

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS (Details)	3 Months Ended	12 Months Ended
	Sep. 30, 2015	Jun. 30, 2015
Revenues [Member] \| Customer one [Member]
Concentration Risk [Line Items]
Concentration risk (as a percent)	25.80%	24.60%
Revenues [Member] \| Customer two [Member]
Concentration Risk [Line Items]
Concentration risk (as a percent)	25.80%
Accounts receivable [Member] \| Customer one [Member]
Concentration Risk [Line Items]
Concentration risk (as a percent)	49.50%	30.00%
Accounts receivable [Member] \| Customer two [Member]
Concentration Risk [Line Items]
Concentration risk (as a percent)	49.50%	30.00%
Accounts receivable [Member] \| Customer three [Member]
Concentration Risk [Line Items]
Concentration risk (as a percent)	49.50%