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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Sep. 30, 2016	Nov. 04, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q1
Entity Registrant Name	SolarEdge Technologies Inc
Entity Central Index Key	0001419612
Current Fiscal Year End Date	--06-30
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		41,063,194

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016
CURRENT ASSETS:
Cash and cash equivalents	$ 90,014	$ 74,032
Restricted cash	946	928
Marketable Securities	61,786	59,163
Trade receivables, net	84,898	72,737
Prepaid expenses and other accounts receivable	17,276	21,340
Inventories	68,434	81,550
Total current assets	323,354	309,750
PROPERTY AND EQUIPMENT, NET	30,377	27,831
LONG-TERM ASSETS:
Marketable securities	53,955	52,446
Prepaid expenses and lease deposits	437	399
Deferred tax assets, net	4,127	6,296
Intangible assets, net	695	716
Total assets	412,945	397,438
CURRENT LIABILITIES:
Trade payables, net	40,282	48,481
Employees and payroll accruals	11,975	10,092
Warranty obligations	15,103	14,114
Deferred revenues	2,421	3,859
Accrued expenses and other accounts payable	8,719	10,725
Total current liabilities	78,500	87,271
LONG-TERM LIABILITIES
Warranty obligations	41,305	37,078
Deferred revenues	16,059	14,684
Lease incentive obligation	2,135	2,297
Total long-term liabilities	59,499	54,059
COMMITMENTS AND CONTINGENT LIABILITIES
STOCKHOLDERS` EQUITY:
Common stock of $0.0001 par value - Authorized: 125,000,000 shares as of September 30, 2016 (unaudited) and June 30, 2016; issued and outstanding: 41,056,801 and 40,889,922 shares as of September 30, 2016 (unaudited) and June 30, 2016, respectively.	4	4
Additional paid-in capital	302,587	299,214
Accumulated other comprehensive income	120	271
Accumulated deficit	(27,765)	(43,381)
Total stockholders' equity	274,946	256,108
Total liabilities and stockholders' equity	$ 412,945	$ 397,438

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2016	Jun. 30, 2016
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, authorized shares	125,000,000	125,000,000
Common stock, issued shares	41,056,801	40,889,922
Common stock, outstanding shares	41,056,801	40,889,922

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Revenues	$ 128,484	$ 115,054
Cost of revenues	86,609	81,527
Gross profit	41,875	33,527
Operating expenses:
Research and development, net	9,935	6,991
Sales and marketing	10,036	8,244
General and administrative	3,664	3,418
Total operating expenses	23,635	18,653
Operating income	18,240	14,874
Financial income (expenses), net	390	(72)
Income before taxes on income	18,630	14,802
Taxes on income	3,014	370
Net income	$ 15,616	$ 14,432
Net basic earnings per share of common stock	$ 0.38	$ 0.37
Net diluted earnings per share of common stock	$ 0.35	$ 0.32
Weighted average number of shares used in computing net basic earnings per share of common stock	40,926,887	39,301,620
Weighted average number of shares used in computing net diluted earnings per share of common stock	43,995,227	44,455,964

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 15,616	$ 14,432
Available-for-sale securities:
Changes in unrealized losses, net of tax benefit	(92)
Net change	(92)
Cash flow hedges:
Changes in unrealized gains, net of tax expense	320	37
Reclassification adjustments for gains and losses, net of tax expense included in net income	(254)	1
Net change	66	38
Foreign currency translation adjustments, net	(125)	(41)
Total other comprehensive loss	(151)	(3)
Comprehensive income	$ 15,465	$ 14,429

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows provided by operating activities:
Net income	$ 15,616	$ 14,432
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation	1,271	738
Amortization of intangible assets	21	21
Amortization of premiums on available-for-sale marketable securities	332
Stock-based compensation	3,100	1,832
Realized losses on Cash Flow Hedges		1
Changes in assets and liabilities:
Inventories	13,120	(5,956)
Prepaid expenses and other accounts receivable	4,176	11,811
Trade receivables, net	(12,102)	(11,928)
Deferred tax assets, net	2,180
Trade payables	(8,200)	(13,500)
Employees and payroll accruals	1,879	1,044
Warranty obligations	5,216	4,025
Deferred revenues	(63)	1,970
Accrued expenses and other accounts payable	(2,015)	1,467
Lease incentive obligation	(162)	(11)
Net cash provided by operating activities	24,369	5,946
Cash flows used in investing activities:
Purchase of property and equipment	(3,815)	(3,292)
Purchase of intangible assets		(800)
Decrease (increase) in restricted cash	(18)	51
Decrease (increase) in short and long-term lease deposits	(29)	73
Investment in available-for-sale marketable securities	(19,928)
Maturities of available-for-sale marketable securities	15,304
Net cash used in investing activities	(8,486)	(3,968)
Cash flows from financing activities:
Proceeds from issuance of shares upon exercise of options	273	17
Net cash provided by financing activities	273	17
Increase in cash and cash equivalents	16,156	1,995
Cash and cash equivalents at the beginning of the period	74,032	144,750
Effect of exchange rate differences on cash and cash equivalents	(174)	(16)
Cash and cash equivalents at the end of the period	$ 90,014	$ 146,729

GENERAL

3 Months Ended

Sep. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

GENERAL

NOTE 1:-

GENERAL

SolarEdge Technologies, Inc. (the “Company”) and its subsidiaries design, develop, and sell an intelligent inverter solution designed to maximize 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 designed to 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. In addition, the Company has a storage solution that is used to increase energy independence and maximize self-consumption for homeowners by utilizing a battery that is sold separately by third party manufacturers, to store and supply power as needed (the “StorEdge solution”). The StorEdge solution is designed to provide smart energy functions such as maximizing self-consumption, Time-of-Use programming for desired hours of the day, and home energy backup solutions.

The Company and its subsidiaries sells its products worldwide directly to large solar installers and engineering, procurement and construction firms (“EPCs”), as well as through large distributors and electrical equipment wholesalers to smaller solar installers.

The Company was incorporated in Delaware in August 2006 and began commercial sale of its products in January 2010.

Recent accounting pronouncements:

In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): 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 more timely recognition of losses. ASU 2016-13 also applies to employee benefit plan accounting, with an effective date of the first quarter of fiscal 2022. The Company is currently assessing the impact that adopting this new accounting standard will have on its consolidated financial statements, footnote disclosures and employee benefit plans’ accounting.

The significant accounting policies applied in the Company’s audited annual consolidated financial statements as of June 30, 2016 are applied consistently in these financial statements.

Basis of Presentation:

The accompanying unaudited condensed 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 condensed 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 2016 consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for its fiscal year ended June 30, 2016 filed with the SEC on August 17, 2016 (the “2016 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, 2016 included in the 2016 Form 10-K.

In August 2016, the Company announced that its fiscal year-end will begin on January 1 and end on December 31 of each year, starting on January 1, 2017.

Fiscal year 2016, which ended on June 30, 2016, will be followed by a transition period from July 1, 2016 to December 31, 2016. The Company plans to disclose the results of the transition period on a form 10-KT transition report.

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 62.8% (unaudited) and 69% of the Company’s total trade payables as of September 30, 2016 (unaudited) and June 30, 2016, respectively.

The Company has the right to offset its payables to one of its contract manufacturers against vendor non-trade receivables. As of September 30, 2016 a total of $2,177 of these receivables met the criteria for net recognition and were offset against the corresponding accounts payable balances for this contract manufacturer in the accompanying condensed Consolidated Balance Sheets.

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 payments of its Israeli facilities denominated in the Israeli currency, the New Israeli Shekels (“NIS”), during the three months ended September 30, 2016, the Company instituted a foreign currency cash flow hedging program. The Company hedges portions of the anticipated payroll 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.

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, 2016, the Company entered into forward contracts and put and call options to sell U.S. dollars for NIS and Euros for U.S. dollars in the amount of $8,846 and 15 million Euro, 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 the Company’s outstanding derivative instruments is as follows:

	Three months ended September 30,		Year ended June 30
	2016		2016
	(unaudited)
Derivative assets:
Derivatives not designated as cash flow hedging instruments:
Foreign exchange option contracts	$	21	$	214
Derivatives designated as cash flow hedging instruments:
Foreign exchange forward contracts		344		290

Total	$	365	$	504

Derivative liabilities:
Derivatives not designated as cash flow hedging instruments:
Foreign exchange option contracts	$	-	$	(23	)

Total	$	-	$	(23	)

The Company recorded the fair value of derivative assets and liabilities, net in “prepaid expenses and other accounts receivable” on the Company’s condensed consolidated balance sheets.

The increase (decrease) in unrealized gains (losses) recognized in “accumulated other comprehensive income (loss)” on derivatives, net of tax effect, is as follows:

	Three months ended
	September 30,
	2016		2015
	(unaudited)

Derivatives designated as cash flow hedging instruments:
Foreign exchange forward contracts		320		37

The net (gains) losses reclassified from “accumulated other comprehensive income (loss)” into income (loss), are as follows:

	Three months ended
	September 30,
	2016			2015
	(unaudited)

Derivatives designated as cash flow hedging instruments:
Foreign exchange forward contracts		(254	)		(1	)

The Company recorded in the financial income (expenses), a net gain (loss) of $(170) and $(1) during the three months ended September 30, 2016 and 2015, respectively related to derivatives not qualified as hedging instruments.

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 certain patents owned by Beacon. 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, 2016 (unaudited) were $21.

Accumulated other comprehensive income:

The following table summarizes the changes in accumulated balances of other comprehensive income (loss), net of taxes, for the three months ended September 30, 2016 (unaudited):

	Unrealized gains (losses) on available-for-sale marketable securities			Unrealized gains (losses) on cash flow hedges			Unrealized gains (losses) on foreign currency translation			Total

Beginning balance	$	57		$	243		$	(29	)	$	271
Other comprehensive income (loss) before reclassifications		(92	)		320			(125	)		103
Losses (gains) reclassified from accumulated other comprehensive income (loss)		-			(254	)		-			(254	)
Net current period other comprehensive income (loss)		(92	)		66			(125	)		(151	)

Ending balance	$	(35	)	$	309		$	(154	)	$	120

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

	Unrealized gains (losses) on available-for-sale marketable securities		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 (gains) reclassified from accumulated other comprehensive income (loss)		-		1			-			1
Net current period other comprehensive income (loss)		-		38			(41	)		(3	)

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

The following table provides details about reclassifications out of accumulated other comprehensive income (loss):

Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)		Affected Line Item in the Statements of Operations
	Three months ended
	September 30, 2016

Unrealized gains on cash flow hedges, net		32	Cost of revenues
		152	Research and development
		39	Sales and marketing
		31	General and administrative

		254	Total, before income taxes

		-	Income tax expense (benefit)

		254	Total, net of income taxes

For the three months period, ended September 30, 2015, $1 was reclassified from accumulated other comprehensive income.

Certain amounts in prior year have been reclassified to conform to the current quarter presentation.

INVENTORIES

3 Months Ended

Sep. 30, 2016

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 2:-

INVENTORIES

	September 30, 2016		June 30, 2016
	(unaudited)
Raw materials	$	12,203	$	9,805
Finished goods		56,231		71,745

	$	68,434	$	81,550

WARRANTY OBLIGATIONS

3 Months Ended

Sep. 30, 2016

Product Warranties Disclosures [Abstract]

WARRANTY OBLIGATIONS

NOTE 3:-

WARRANTY OBLIGATIONS

Changes in the Company’s product warranty liability for the three months ended September 30, 2016 and 2015 were as follows:

	Three months ended September 30,
	2016			2015
	(unaudited)

Balance, at beginning of period	$	51,192		$	31,879
Additions and adjustments to cost of revenues		8,841			6,295
Usage and current warranty expenses		(3,625	)		(2,270	)

Balance, at end of period		56,408			35,904
Less current portion		(15,103	)		(10,587	)

Long term portion	$	41,305		$	25,317

REVOLVING CREDIT LINE

3 Months Ended

Sep. 30, 2016

Line of Credit Facility [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, 2016 (unaudited) and June 30, 2016, the Company met all its Bank Lender covenants.

As of September 30, 2016 (unaudited) and June 30, 2016, the Company had no outstanding borrowings related to this revolving line of credit.

FAIR VALUE MEASUREMENTS

3 Months Ended

Sep. 30, 2016

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

NOTE 5:-

FAIR VALUE MEASUREMENTS

The Company applies ASC 820 (“Fair Value Measurements and Disclosures”), with respect to fair value measurements of all financial assets and liabilities.

Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability.

A three-tiered fair value hierarchy is established as a basis for considering such assumptions and for inputs used in the valuation methodologies in measuring fair value:

Level 1-

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

Level 2-

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

Level 3-

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

The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

The following table sets forth the Company’s assets that were measured at fair value as of September 30, 2016 (unaudited) by level within the fair value hierarchy:

	Balance as of September 30, 2016		Fair value measurements
Description	Balance as of September 30, 2016		Level 1		Level 2		Level 3

Cash equivalents:
Money market mutual funds	$	7,299	$	7,299		-		-

Derivative instruments asset	$	365		-	$	365		-

Short-term marketable securities:
Corporate bonds	$	59,787		-	$	59,787		-
Governmental bonds	$	1,999		-	$	1,999		-

Long-term marketable securities:
Corporate bonds	$	47,942		-	$	47,942		-
Governmental bonds	$	6,013		-	$	6,013		-

The following table sets forth the Company’s assets that were measured at fair value as of June 30, 2016 by level within the fair value hierarchy:

	Balance as of June 30, 2016		Fair value measurements
Description	Balance as of June 30, 2016		Level 1		Level 2		Level 3

Cash equivalents:
Money market mutual funds	$	13,373	$	13,373		-		-

Derivative instruments asset	$	481		-	$	481		-

Short-term marketable securities:
Corporate bonds	$	57,158		-	$	57,158		-
Governmental bonds	$	2,005		-	$	2,005		-

Long-term marketable securities:
Corporate bonds	$	46,430		-	$	46,430		-
Governmental bonds	$	6,016		-	$	6,016		-

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, 2016 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

COMMITMENTS AND CONTINGENT LIABILITIES

3 Months Ended

Sep. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENT LIABILITIES

NOTE 6:-

COMMITMENTS AND CONTINGENT LIABILITIES

Guarantees:

As of September 30, 2016 (unaudited), contingent liabilities exist regarding guarantees in the amount of $633, $53 and $85 in respect of office rent lease agreements, customs transactions and credit card limits, respectively.

Royalty and Governmental commitments:

As of September 30, 2016 (unaudited), the aggregate contingent liability to the Binational Industrial Research and Development Foundation (BIRD‑F) amounted to approximately $1,148 which would be payable by the Company if it ever did generate revenues from such project.

The Company’s Israeli subsidiary receives research and development grants from the Office of the Chief Scientist (the OCS). In consideration for the research and development grants received from the OCS, the Company has undertaken to pay royalties as a percentage of revenues from products developed from research and development projects financed. If the Company will not generate sales of products developed with funds provided by the OCS, the Company is not obligated to pay royalties or repay the grants.

Royalties are payable at the rate of 4% to 4.5% from the time of commencement of sales of all of these products until the cumulative amount of the royalties paid equals 100% of the dollar-linked amounts of the grants received, plus interest at LIBOR rate.

As of September 30, 2016 (unaudited), the aggregate contingent liability to the OCS amounted to $999.

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, 2016 (unaudited), the Company had non-cancelable purchase obligations totaling approximately $68,091 out of which the Company already recorded a provision for loss in the amount of $1,878.

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, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

STOCK CAPITAL

NOTE 7:-

STOCK CAPITAL

Common Stock:

Authorized

Issued and outstanding

Number of shares

September 30, 2016

June 30,

2016

September 30, 2016

June 30,

2016

(unaudited)

Stock of $0.0001 par value:

Common stock

125,000,000

41,056,801

40,889,922

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, 2016 (unaudited), a total of 3,827,117 (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, 2016 (unaudited), an aggregate of 1,695,717 shares of common stock are still available for future grant under the 2015 Plan.

Options granted to employees and members of the board of directors:

A summary of the activity in the share options granted to employees and members of the board of directors for the three months ended September 30, 2016 (unaudited) and related information follows:

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

Outstanding as of July 1, 2016		4,837,364		$	4.50		6.58	$	74,292
Granted		197,821			16.79
Exercised		(113,691	)		2.39
Forfeited or expired		(13,137	)		5.43
Outstanding as of September 30, 2016		4,908,357			5.05		6.50		61,639

Vested and expected to vest as of September 30, 2016		4,765,530			4.96		6.47		60,199

Exercisable as of September 30, 2016		3,221,141			3.30		5.54		45,316

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 holders had all option holders exercised their options on the last day of each period. The total intrinsic value of options exercised during the three months ended on September 30, 2016 (unaudited) was $1,588.

The weighted average grant date fair values of options granted to employees and executive directors during the three months ended September 30, 2016 (unaudited) was $16.88.

A summary of the activity in the RSUs granted to employees and members of the board of directors for the three months ended September 30, 2016 (unaudited) is as follows:

	No. of RSUs			Weighted average grant date fair value
Unvested as of July 1, 2016		834,186			24.74
Granted		666,903			16.50
Vested		(50,547	)		24.58
Forfeited		(16,417	)		22.98
Unvested as of September 30, 2016		1,434,125			20.91

e. 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, 2016 (unaudited) as follows:

	Outstanding				Exercisable
	as of				as of
Issuance	September 30,		Exercise		September 30,		Exercisable
Date	2016		price		2016		Through

July 31, 2008		33,333		0.87		33,333	July 31, 2018
October 24, 2012		5,166		2.46		5,166	October 24, 2022
January 23, 2013		3,333		3.03		3,194	January 23, 2023
January 27, 2014		4,148		3.51		2,261	January 27, 2024
May 1, 2014		6,000		3.51		3,917	May 1, 2024
September 17, 2014		10,830		3.96		6,142	September 17, 2024
October 29, 2014		5,638		5.01		1,526	October 29, 2024
August 19, 2015		19,834		0.00		-
November 8, 2015		3,501		0.00		-
April 18, 2016		2,292		0.00		-
July 11, 2016		2,667		0.00		-
September 21, 2016		4,000		15.34		-	September 21, 2026
September 21, 2016		7,000		0.00		-

		107,742				55,539

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, 2016 (unaudited) and 2015 (unaudited) in the amounts $44 and $119, respectively.

Employee Stock Purchase Plan (“ESPP”):

The Company adopted an Employee Stock Purchase Plan (the “ESPP”) effective upon the consummation of the IPO. As of September 30, 2016, a total of 888,569 shares were reserved for issuance under this plan. The number of shares of common stock reserved for issuance under the ESPP will increase automatically on January 1st of each year, for ten years, by the lesser of 1% of the total number of shares of the Company’s common stock outstanding on December 31st of the preceding calendar year or 487,643 shares. However, the Company’s board of directors may reduce the amount of the increase in any particular year at their discretion, including a reduction to zero.

The ESPP is implemented through an offering every six months. According to the ESPP, eligible employees may use up to 10% of their salaries to purchase common stock shares up to an aggregate limit of $10 per participant for every six months plan. The price of an ordinary share purchased under the ESPP is equal to 85% of the lower of the fair market value of the ordinary share on the subscription date of each offering period or on the purchase date.

As of September 30, 2016, no common stock shares had yet been purchased under the ESPP.

As of September 30, 2016, 888,569 common stock shares were available for future issuance under the ESPP.

In accordance with ASC No. 718, the ESPP is compensatory and as such results in recognition of compensation cost.

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 and ESPP in the condensed consolidated statement of operations for the three months ended on September 30, 2016 (unaudited) and 2015 (unaudited), as follows:

	Three months ended September 30, 2016		Three months ended September 30, 2015

Cost of revenues	$	384	$	180
Research and development		927		395
Selling and marketing		850		616
General and administrative		939		641

Total stock-based compensation expense	$	3,100	$	1,832

As of September 30, 2016 (unaudited) there was a total unrecognized compensation expense of $37,822 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, 2016 through August 31, 2020.

BASIC AND DILUTED NET EARNINGS PER SHARE

3 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

BASIC AND DILUTED NET EARNINGS PER SHARE

NOTE 8:-

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, excluded from the calculation of diluted net earnings per share due to their anti-dilutive effect was 235,845 and 0 for the three months ended September 30, 2016 (unaudited) and 2015 (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,
	2016		2015
	(unaudited)
Numerator:
Net income		15,616		14,432

Denominator:
Shares used in computing net earnings per share of common stock, basic		40,926,887		39,301,620
Effect of stock-based awards		3,068,340		5,154,344
Shares used in computing net earnings per share of common stock, diluted		43,995,227		44,455,964

Basic net income per share	$	0.38	$	0.37
Diluted net income per share	$	0.35	$	0.32

INCOME TAXES

3 Months Ended

Sep. 30, 2016

Income Taxes

INCOME TAXES

NOTE 9:- INCOME TAXES

Taxes on income are comprised as follows:

	Three months ended September 30,
	2016		2015
	Unaudited

Current year taxes	$	835	$	370
Deferred tax expense		2,179		-

Taxes on income	$	3,014	$	370

Deferred income taxes:

Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes.

Significant components of the Company’s deferred tax liabilities and assets are as follows:

	September 30,		June 30,
	2016		2016
	(Unaudited)

Assets in respect of:

Carryforward tax losses	$	1,059	$	4,186
Research and Development carryforward expenses- temporary differences		698		743
Other reserves		2,370		1,367

Net deferred tax assets	$	4,127	$	6,296

During the second fiscal quarter of 2016, the Company determined that the positive evidence outweighs the negative evidence for deferred tax assets and concluded that these deferred tax assets are realizable on a "more likely than not" basis. This determination was mainly due to expected future results of positive operations and earnings history.

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

3 Months Ended

Sep. 30, 2016

Risks and Uncertainties [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, 2016 (unaudited), the Company had one major customer that accounted for approximately 12.4% of its condensed consolidated revenues. For the three month period ended September 30, 2015, the Company had two major customers that accounted for 25.8% of the Company’s condensed consolidated revenues.

As of September 30, 2016, (unaudited) two customers accounted for approximately 31.1% of the Company’s net accounts receivable and as of June 30, 2016, three major customers accounted for approximately 35.4% of the Company’s net accounts receivable.

SUBSEQUENT EVENTS

3 Months Ended

Sep. 30, 2016

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 11:-

SUBSEQUENT EVENTS

In October 2016 the Company and Accurate Solar Power, LLC, a limited liability corporation, entered into a patent purchase agreement, under which the Company agreed to purchase certain patents, provisional patent applications and pending patent applications. The Company completed the purchase in return for total consideration of $600.

In October 2016 the Company established a wholly-owned subsidiary in China, to support third party contract manufacturer’s activities.

GENERAL (Tables)

3 Months Ended

Sep. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Fair Value of Derivative Instruments

	Three months ended September 30,		Year ended June 30
	2016		2016
	(unaudited)
Derivative assets:
Derivatives not designated as cash flow hedging instruments:
Foreign exchange option contracts	$	21	$	214
Derivatives designated as cash flow hedging instruments:
Foreign exchange forward contracts		344		290

Total	$	365	$	504

Derivative liabilities:
Derivatives not designated as cash flow hedging instruments:
Foreign exchange option contracts	$	-	$	(23	)

Total	$	-	$	(23	)

Schedule of Unrealized Gains (Losses) on Derivatives

	Three months ended
	September 30,
	2016		2015
	(unaudited)

Derivatives designated as cash flow hedging instruments:
Foreign exchange forward contracts		320		37

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

	Three months ended
	September 30,
	2016			2015
	(unaudited)

Derivatives designated as cash flow hedging instruments:
Foreign exchange forward contracts		(254	)		(1	)

Schedule of Changes in AOCI

The following table summarizes the changes in accumulated balances of other comprehensive income (loss), net of taxes, for the three months ended September 30, 2016 (unaudited):

	Unrealized gains (losses) on available-for-sale marketable securities			Unrealized gains (losses) on cash flow hedges			Unrealized gains (losses) on foreign currency translation			Total

Beginning balance	$	57		$	243		$	(29	)	$	271
Other comprehensive income (loss) before reclassifications		(92	)		320			(125	)		103
Losses (gains) reclassified from accumulated other comprehensive income (loss)		-			(254	)		-			(254	)
Net current period other comprehensive income (loss)		(92	)		66			(125	)		(151	)

Ending balance	$	(35	)	$	309		$	(154	)	$	120

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

	Unrealized gains (losses) on available-for-sale marketable securities		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 (gains) reclassified from accumulated other comprehensive income (loss)		-		1			-			1
Net current period other comprehensive income (loss)		-		38			(41	)		(3	)

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

Schedule of Reclassifications out of AOCI

Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)		Affected Line Item in the Statements of Operations
	Three months ended
	September 30, 2016

Unrealized gains on cash flow hedges, net		32	Cost of revenues
		152	Research and development
		39	Sales and marketing
		31	General and administrative

		254	Total, before income taxes

		-	Income tax expense (benefit)

		254	Total, net of income taxes

INVENTORIES (Tables)

3 Months Ended

Sep. 30, 2016

Inventory Disclosure [Abstract]

Schedule of Inventories

	September 30, 2016		June 30, 2016
	(unaudited)
Raw materials	$	12,203	$	9,805
Finished goods		56,231		71,745

	$	68,434	$	81,550

WARRANTY OBLIGATIONS (Tables)

3 Months Ended

Sep. 30, 2016

Product Warranties Disclosures [Abstract]

Schedule of Warranty Obligations

	Three months ended September 30,
	2016			2015
	(unaudited)

Balance, at beginning of period	$	51,192		$	31,879
Additions and adjustments to cost of revenues		8,841			6,295
Usage and current warranty expenses		(3,625	)		(2,270	)

Balance, at end of period		56,408			35,904
Less current portion		(15,103	)		(10,587	)

Long term portion	$	41,305		$	25,317

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Sep. 30, 2016

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value

The following table sets forth the Company’s assets that were measured at fair value as of September 30, 2016 (unaudited) by level within the fair value hierarchy:

	Balance as of September 30, 2016		Fair value measurements
Description	Balance as of September 30, 2016		Level 1		Level 2		Level 3

Cash equivalents:
Money market mutual funds	$	7,299	$	7,299		-		-

Derivative instruments asset	$	365		-	$	365		-

Short-term marketable securities:
Corporate bonds	$	59,787		-	$	59,787		-
Governmental bonds	$	1,999		-	$	1,999		-

Long-term marketable securities:
Corporate bonds	$	47,942		-	$	47,942		-
Governmental bonds	$	6,013		-	$	6,013		-

The following table sets forth the Company’s assets that were measured at fair value as of June 30, 2016 by level within the fair value hierarchy:

	Balance as of June 30, 2016		Fair value measurements
Description	Balance as of June 30, 2016		Level 1		Level 2		Level 3

Cash equivalents:
Money market mutual funds	$	13,373	$	13,373		-		-

Derivative instruments asset	$	481		-	$	481		-

Short-term marketable securities:
Corporate bonds	$	57,158		-	$	57,158		-
Governmental bonds	$	2,005		-	$	2,005		-

Long-term marketable securities:
Corporate bonds	$	46,430		-	$	46,430		-
Governmental bonds	$	6,016		-	$	6,016		-

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

STOCK CAPITAL (Tables)

3 Months Ended

Sep. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Composition of Common Stock Capital

Authorized

Issued and outstanding

Number of shares

September 30, 2016

June 30,

2016

September 30, 2016

June 30,

2016

(unaudited)

Stock of $0.0001 par value:

Common stock

125,000,000

41,056,801

40,889,922

Schedule of Stock Option Activity

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

Outstanding as of July 1, 2016		4,837,364		$	4.50		6.58	$	74,292
Granted		197,821			16.79
Exercised		(113,691	)		2.39
Forfeited or expired		(13,137	)		5.43
Outstanding as of September 30, 2016		4,908,357			5.05		6.50		61,639

Vested and expected to vest as of September 30, 2016		4,765,530			4.96		6.47		60,199

Exercisable as of September 30, 2016		3,221,141			3.30		5.54		45,316

Schedule of RSU Activity

	No. of RSUs			Weighted average grant date fair value
Unvested as of July 1, 2016		834,186			24.74
Granted		666,903			16.50
Vested		(50,547	)		24.58
Forfeited		(16,417	)		22.98
Unvested as of September 30, 2016		1,434,125			20.91

Schedule of Options and RSUs Granted to Non-Employee Consultants

	Outstanding				Exercisable
	as of				as of
Issuance	September 30,		Exercise		September 30,		Exercisable
Date	2016		price		2016		Through

July 31, 2008		33,333		0.87		33,333	July 31, 2018
October 24, 2012		5,166		2.46		5,166	October 24, 2022
January 23, 2013		3,333		3.03		3,194	January 23, 2023
January 27, 2014		4,148		3.51		2,261	January 27, 2024
May 1, 2014		6,000		3.51		3,917	May 1, 2024
September 17, 2014		10,830		3.96		6,142	September 17, 2024
October 29, 2014		5,638		5.01		1,526	October 29, 2024
August 19, 2015		19,834		0.00		-
November 8, 2015		3,501		0.00		-
April 18, 2016		2,292		0.00		-
July 11, 2016		2,667		0.00		-
September 21, 2016		4,000		15.34		-	September 21, 2026
September 21, 2016		7,000		0.00		-

		107,742				55,539

Schedule of Recognized Stock-Based Compensation Expense

	Three months ended September 30, 2016		Three months ended September 30, 2015

Cost of revenues	$	384	$	180
Research and development		927		395
Selling and marketing		850		616
General and administrative		939		641

Total stock-based compensation expense	$	3,100	$	1,832

- 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
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-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=65877616&loc=d3e177068-122764

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
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-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 10
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-SubTopic 10
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 1
-Subparagraph (SX 210.5-02(28))
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Reference 9: 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=65888546&loc=d3e21300-112643

Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

+ Details

BASIC AND DILUTED NET EARNINGS PER SHARE (Tables)

3 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Net Earnings (Loss) Per Share

	Three months ended September 30,
	2016		2015
	(unaudited)
Numerator:
Net income		15,616		14,432

Denominator:
Shares used in computing net earnings per share of common stock, basic		40,926,887		39,301,620
Effect of stock-based awards		3,068,340		5,154,344
Shares used in computing net earnings per share of common stock, diluted		43,995,227		44,455,964

Basic net income per share	$	0.38	$	0.37
Diluted net income per share	$	0.35	$	0.32

INCOME TAXES (Tables)

3 Months Ended

Sep. 30, 2016

Income Taxes Tables

Schedule of Taxes on Income

	Three months ended September 30,
	2016		2015
	Unaudited

Current year taxes	$	835	$	370
Deferred tax expense		2,179		-

Taxes on income	$	3,014	$	370

Schedule of Deferred Tax Assets and Liabilities

	September 30,		June 30,
	2016		2016
	(Unaudited)

Assets in respect of:

Carryforward tax losses	$	1,059	$	4,186
Research and Development carryforward expenses- temporary differences		698		743
Other reserves		2,370		1,367

Net deferred tax assets	$	4,127	$	6,296

GENERAL (Narrative) (Details) € in Thousands, $ in Thousands	1 Months Ended	3 Months Ended		12 Months Ended
	Jul. 31, 2015 USD ($)	Sep. 30, 2016 USD ($)	Sep. 30, 2015 USD ($)	Jun. 30, 2016	Sep. 30, 2016 EUR (€)
Organization Consolidation and Presentation of Financial Statements [Line Items]
Accounts receivable pledged to offset accounts payable		$ 2,177
Payment for intangible assets			$ 800
Amortization expense		21
Patents [Member]
Organization Consolidation and Presentation of Financial Statements [Line Items]
Payment for intangible assets	$ 800
Useful life of intangible assets	10 years
Not Designated as Hedging Instrument [Member]
Organization Consolidation and Presentation of Financial Statements [Line Items]
Net gain (loss) on derivatives		(170)	$ (1)
Designated as Hedging Instrument [Member] \| Foreign Exchange Forward [Member]
Organization Consolidation and Presentation of Financial Statements [Line Items]
Derivative asset, notional amount		$ 8,846
Designated as Hedging Instrument [Member] \| Foreign Exchange Forward [Member] \| Euro Member Countries, Euro
Organization Consolidation and Presentation of Financial Statements [Line Items]
Derivative asset, notional amount \| €					€ 15,000
Accounts Payable [Member]
Organization Consolidation and Presentation of Financial Statements [Line Items]
Concentration risk (as a percent)		62.80%		69.00%

GENERAL (Schedule of Fair Value of Derivative Instruments) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016
Derivative assets	$ 365	$ 504
Derivative liabilities		(23)
Not Designated as Hedging Instrument [Member] \| Foreign Exchange Option [Member]
Derivative assets	21	214
Derivative liabilities		(23)
Designated as Hedging Instrument [Member] \| Foreign Exchange Forward [Member]
Derivative assets	$ 344	$ 290

GENERAL (Schedule of Unrealized Gains (Losses) on Derivatives) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Designated as Hedging Instrument [Member] \| Foreign Exchange Forward [Member]
Unrealized gain (loss) on derivatives	$ 320	$ 37

GENERAL (Schedule of Derivative Gains (Losses) Reclassified From OCI Into Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Designated as Hedging Instrument [Member] \| Foreign Exchange Forward [Member]
Net gain (loss) reclassified from accumulated other comprehensive income (loss)	$ (254)	$ (1)

GENERAL (Schedule of Changes in AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Beginning balance	$ 271	$ (222)
Other comprehensive income (loss) before reclassifications	103	(4)
Losses (gains) reclassified from accumulated other comprehensive income (loss)	(254)	1
Net current period other comprehensive income (loss)	(151)	(3)
Ending balance	120	(225)
Unrealized gains (losses) on available-for-sale marketable securities [Member]
Beginning balance	57
Other comprehensive income (loss) before reclassifications	(92)
Losses (gains) reclassified from accumulated other comprehensive income (loss)
Net current period other comprehensive income (loss)	(92)
Ending balance	(35)
Unrealized gains (losses) on cash flow hedges [Member]
Beginning balance	243
Other comprehensive income (loss) before reclassifications	320	37
Losses (gains) reclassified from accumulated other comprehensive income (loss)	(254)	1
Net current period other comprehensive income (loss)	66	38
Ending balance	309	38
Unrealized gains (losses) on foreign currency translation [Member]
Beginning balance	(29)	(222)
Other comprehensive income (loss) before reclassifications	(125)	(41)
Losses (gains) reclassified from accumulated other comprehensive income (loss)
Net current period other comprehensive income (loss)	(125)	(41)
Ending balance	$ (154)	$ (263)

GENERAL (Schedule of Reclassifications out of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cost of revenues	$ 86,609	$ 81,527
Research and development	9,935	6,991
Sales and marketing	10,036	8,244
General and administrative	3,664	3,418
Total, before income taxes	18,630	14,802
Income tax expense (benefit)	3,014	370
Total, net of income taxes	15,616	14,432
Total amount reclassified from accumulated other comprehensive income		$ 1
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Cash Flow Hedging [Member]
Cost of revenues	32
Research and development	152
Sales and marketing	39
General and administrative	31
Total, before income taxes	254
Income tax expense (benefit)
Total, net of income taxes	$ 254

INVENTORIES (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016
Inventory Disclosure [Abstract]
Raw materials	$ 12,203	$ 9,805
Finished goods	56,231	71,745
Inventories	$ 68,434	$ 81,550

WARRANTY OBLIGATIONS (Details) - USD ($) $ in Thousands	3 Months Ended
WARRANTY OBLIGATIONS (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016
Changes in the Company's product warranty liability
Balance, at beginning of period	$ 51,192	$ 31,879
Additions and adjustments to cost of revenues	8,841	6,295
Usage and current warranty expenses	(3,625)	(2,270)
Balance, at end of period	56,408	35,904
Less current portion	(15,103)	(10,587)	$ (14,114)
Long term portion	$ 41,305	$ 25,317	$ 37,078

REVOLVING CREDIT LINE (Details) - Revolving Credit Line [Member] - USD ($) $ in Thousands	Feb. 17, 2015	Sep. 30, 2016	Jun. 30, 2016
Line of Credit Facility [Line Items]
Aggregate borrowings	$ 40,000
Maximum specified percentage of eligible trade receivables considered for determining maximum borrowing capacity	80.00%
Termination date	Dec. 31, 2016
Outstanding principal balance		$ 0	$ 0
Amount of liquidity need to maintain	$ 6,750
Minimum [Member]
Line of Credit Facility [Line Items]
Applicable margin (as a percent)	0.50%
Maximum [Member]
Line of Credit Facility [Line Items]
Applicable margin (as a percent)	2.00%

COMMITMENTS AND CONTINGENT LIABILITIES (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2016 USD ($)
Royalties, threshold percentage of dollar linked amounts	100.00%
Non-cancelable purchase obligations	$ 68,091
Provision for contractual inventory purchase obligations	$ 1,878
Minimum [Member]
Royalty percentage	4.00%
Maximum [Member]
Royalty percentage	4.50%
BIRD-F [Member]
Aggregate contingent liability	$ 1,148
OCS [Member]
Aggregate contingent liability	999
Office Rent Lease Agreements [Member]
Guarantees amount	633
Customs Transactions [Member]
Guarantees amount	53
Credit Card Limits [Member]
Guarantees amount	$ 85

STOCK CAPITAL (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 3,100	$ 1,832
Unrecognized compensation expense	37,822
Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of options exercised	$ 1,588
Weighted average grant date fair value of options granted	$ 16.88
Stock-based compensation	$ 44	$ 119
Maximum [Member] \| Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options available for future grant under the plan	10,000,000
2007 Plan, Transferred to 2015 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options available for future grant under the plan	379,358
2015 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options reserved for issuance under the plan	3,827,117
Number of options available for future grant under the plan	1,695,717
2015 Plan [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual increase percentage	5.00%
ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options reserved for issuance under the plan	888,569
Maximum number of excess shares authorized	487,643
Maximum percentage of salary	10.00%
Maximum amount authorized per person	$ 10
Maximum percentage of common stock		85.00%
ESPP [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual increase percentage	1.00%

STOCK CAPITAL (Schedule of Composition of Common Stock Capital) (Details) - $ / shares	Sep. 30, 2016	Jun. 30, 2016
Common stock capital
Par value	$ 0.0001	$ 0.0001
Authorized	125,000,000	125,000,000
Common stock, issued shares	41,056,801	40,889,922
Common stock, outstanding shares	41,056,801	40,889,922

STOCK CAPITAL (Schedule of Stock Option Activity) (Details) - Option [Member] - Employees and Members of Board of Directors [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2016	Jun. 30, 2016
Number of options
Outstanding as of July 1, 2016	4,837,364
Granted	197,821
Exercised	(113,691)
Forfeited or expired	(13,137)
Outstanding as of September 30, 2016	4,908,357	4,837,364
Vested and expected to vest as of September 30, 2016	4,765,530
Exercisable as of September 30, 2016	3,221,141
Weighted average exercise price
Outstanding as of July 1, 2016	$ 4.50
Granted	16.79
Exercised	2.39
Forfeited or expired	5.43
Outstanding as of September 30, 2016	5.05	$ 4.50
Vested and expected to vest as of September 30, 2016	4.96
Exercisable as of September 30, 2016	$ 3.30
Weighted average remaining contractual term in years
Outstanding	6 years 6 months	6 years 6 months 29 days
Vested and expected to vest as of September 30, 2016	6 years 5 months 19 days
Exercisable as of September 30, 2016	5 years 6 months 15 days
Aggregate intrinsic Value
Outstanding as of July 1, 2016	$ 74,292
Outstanding as of September 30, 2016	61,639	$ 74,292
Vested and expected to vest as of September 30, 2016	60,199
Exercisable as of September 30, 2016	$ 45,316

STOCK CAPITAL (Schedule of RSU Activity) (Details) - Restricted Stock Units (RSUs) [Member] - Employees and Members of Board of Directors [Member]	3 Months Ended
	Sep. 30, 2016 $ / shares shares
No. of RSU's
Unvested as of July 1, 2016 \| shares	834,186
Granted \| shares	666,903
Vested \| shares	(50,547)
Forfeited \| shares	(16,417)
Unvested as of September 30, 2016 \| shares	1,434,125
Weighted average grant date fair value
Unvested as of July 1, 2016 \| $ / shares	$ 24.74
Granted \| $ / shares	16.50
Vested \| $ / shares	24.58
Forfeited \| $ / shares	22.98
Unvested as of September 30, 2016 \| $ / shares	$ 20.91

STOCK CAPITAL (Schedule of Options and RSUs Granted to Non-Employee Consultants) (Details) - Options And RSUs [Member] - Nonemployee Consultants [Member]	Sep. 30, 2016 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	107,742
Exercisable at the end of the period	55,539
July 31, 2008 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	33,333
Exercise price \| $ / shares	$ 0.87
Exercisable at the end of the period	33,333
October 24, 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	5,166
Exercise price \| $ / shares	$ 2.46
Exercisable at the end of the period	5,166
January 23, 2013 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	3,333
Exercise price \| $ / shares	$ 3.03
Exercisable at the end of the period	3,194
January 27, 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	4,148
Exercise price \| $ / shares	$ 3.51
Exercisable at the end of the period	2,261
May 1, 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	6,000
Exercise price \| $ / shares	$ 3.51
Exercisable at the end of the period	3,917
September 17, 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	10,830
Exercise price \| $ / shares	$ 3.96
Exercisable at the end of the period	6,142
October 29, 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	5,638
Exercise price \| $ / shares	$ 5.01
Exercisable at the end of the period	1,526
August 19, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	19,834
Exercise price \| $ / shares	$ 0.00
Exercisable at the end of the period
November 8, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	3,501
Exercise price \| $ / shares	$ 0.00
Exercisable at the end of the period
April 18, 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	2,292
Exercise price \| $ / shares	$ 0.00
Exercisable at the end of the period
July 11, 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	2,667
Exercise price \| $ / shares	$ 0.00
Exercisable at the end of the period
September 21, 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	4,000
Exercise price \| $ / shares	$ 15.34
Exercisable at the end of the period
September 21, 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at the end of the period	7,000
Exercise price \| $ / shares	$ 0.00
Exercisable at the end of the period

STOCK CAPITAL (Schedule of Recognized Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 3,100	$ 1,832
Cost of revenues [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	384	180
Research and development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	927	395
Selling and marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	850	616
General and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 939	$ 641

BASIC AND DILUTED NET EARNINGS PER SHARE (Narrative) (Details) - shares	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
Anti-dilutive securities	235,845	0

BASIC AND DILUTED NET EARNINGS PER SHARE (Schedule of Computation of Basic and Diluted Net Earnings (Loss) Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Numerator:
Net income	$ 15,616	$ 14,432
Denominator:
Shares used in computing net earnings per share of common stock, basic	40,926,887	39,301,620
Effect of stock-based awards	3,068,340	5,154,344
Shares used in computing net earnings per share of common stock, diluted	43,995,227	44,455,964
Basic net income per share	$ 0.38	$ 0.37
Diluted net income per share	$ 0.35	$ 0.32

INCOME TAXES (Schedule of Taxes on Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Income Taxes Schedule Of Taxes On Income Details
Current year taxes	$ 835	$ 370
Deferred tax expense	2,179
Taxes on income	$ 3,014	$ 370

INCOME TAXES (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016
Assets in respect of:
Carryforward tax losses	$ 1,059	$ 4,186
Research and Development carryforward expenses - temporary differences	698	743
Other reserves	2,370	1,367
Net deferred tax assets	$ 4,127	$ 6,296

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS (Details)	3 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016
Revenues [Member] \| One Major Customer [Member]
Concentration Risk [Line Items]
Concentration risk percentage	12.40%
Revenues [Member] \| Two Major Customers [Member]
Concentration Risk [Line Items]
Concentration risk percentage		25.80%
Accounts Receivable [Member] \| Two Major Customers [Member]
Concentration Risk [Line Items]
Concentration risk percentage	31.10%
Accounts Receivable [Member] \| Three Major Customers [Member]
Concentration Risk [Line Items]
Concentration risk percentage			35.40%

SUBSEQUENT EVENTS (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended
SUBSEQUENT EVENTS (Details) - USD ($) $ in Thousands	Oct. 31, 2016	Jul. 31, 2015	Sep. 30, 2016	Sep. 30, 2015
Payment for patent				$ 800
Patents [Member]
Payment for patent		$ 800
Subsequent Event [Member] \| Patents [Member]
Payment for patent	$ 600

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	$ 7,299	$ 13,373
Money Market Funds [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	7,299	13,373
Money Market Funds [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets
Money Market Funds [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets
Derivative Financial Instruments, Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	365	481
Derivative Financial Instruments, Assets [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets
Derivative Financial Instruments, Assets [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	365	481
Derivative Financial Instruments, Assets [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets
Short Term Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	59,787	57,158
Short Term Corporate Bonds [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets
Short Term Corporate Bonds [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	59,787	57,158
Short Term Corporate Bonds [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets
Short Term Governmental Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	1,999	2,005
Short Term Governmental Bonds [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets
Short Term Governmental Bonds [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	1,999	2,005
Short Term Governmental Bonds [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets
Long Term Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	47,942	46,430
Long Term Corporate Bonds [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets
Long Term Corporate Bonds [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	47,942	46,430
Long Term Corporate Bonds [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets
Long Term Governmental Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	6,013	6,016
Long Term Governmental Bonds [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets
Long Term Governmental Bonds [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	6,013	6,016
Long Term Governmental Bonds [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets