Stratasys (SSYS) 6-K 5 Aug 20 2020 Q2 Condensed Consolidated Interim Financial Statements Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	STRATASYS LTD.
Entity Central Index Key	0001517396
Current Fiscal Year End Date	--12-31
Document Type	6-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020
Entity File Number	001-35751
Entity Address, Address Line One	1 Holtzman Street
Entity Address, Address Line Two	Science Park
Entity Address, Address Line Three	P.O. Box 2496
Entity Address, City or Town	Rehovot
Entity Address Country	IL
Entity Address, Postal Zip Code	76124

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 284,742	$ 293,484
Short-term Deposits	28,300	28,300
Accounts receivable, net	102,212	132,558
Inventories	164,588	168,504
Prepaid expenses	7,056	6,567
Other current assets	19,969	29,659
Total current assets	606,867	659,072
Non-current assets
Property, plant and equipment, net	194,437	189,706
Goodwill	385,636	385,658
Other intangible assets, net	75,638	87,328
Operating lease right-of-use assets	17,738	20,936
Other non-current assets	33,744	38,819
Total non-current assets	707,193	722,447
Total assets	1,314,060	1,381,519
Current liabilities
Accounts payable	30,600	35,818
Accrued expenses and other current liabilities	23,743	28,528
Accrued compensation and related benefits	29,548	34,013
Deferred revenues	48,617	52,268
Operating lease liabilities - short-term	8,667	9,292
Total current liabilities	141,175	159,919
Non-current liabilities
Deferred revenues - long-term	13,489	16,039
Operating lease liabilities - long-term	9,493	12,445
Other non-current liabilities	31,576	35,343
Total non-current liabilities	54,558	63,827
Total liabilities	195,733	223,746
Redeemable non-controlling interests	572	622
Equity
Ordinary shares, NIS 0.01 nominal value, authorized 180,000 thousands shares; 55,030 thousands shares and 54,441 thousands shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively	150	148
Additional paid-in capital	2,717,963	2,706,894
Accumulated other comprehensive loss	(8,494)	(7,716)
Accumulated deficit	(1,591,864)	(1,542,175)
Total equity	1,117,755	1,157,151
Total liabilities and equity	$ 1,314,060	$ 1,381,519

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - ₪ / shares shares in Thousands	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in NIS per share)	₪ 0.01	₪ 0.01
Common stock, shares authorized	180,000	180,000
Common stock, shares issued	55,030	54,441
Common stock, shares outstanding	55,030	54,441

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net sales
Total net sales	$ 117,623	$ 163,163	$ 250,530	$ 318,463
Cost of sales
Total cost of sales	73,887	81,996	146,924	160,839
Gross profit	43,736	81,167	103,606	157,624
Operating expenses
Research and development, net	21,303	24,040	45,497	46,614
Selling, general and administrative	51,711	56,322	107,287	113,476
Total operating expenses	73,014	80,362	152,784	160,090
Operating income (loss)	(29,278)	805	(49,178)	(2,466)
Financial income (expense), net	149	1,755	(680)	2,508
Income (loss) before income taxes	(29,129)	2,560	(49,858)	42
Income tax expenses (benefit)	(2,128)	1,280	(1,907)	2,498
Share in profits (losses) of associated companies	(950)	(195)	(1,788)	1,228
Net income (loss)	(27,951)	1,085	(49,739)	(1,228)
Net income (loss) attributable to non-controlling interests	35	(67)	(50)	(110)
Net income (loss) attributable to Stratasys Ltd.	$ (27,986)	$ 1,152	$ (49,689)	$ (1,118)
Net earnings (loss) per ordinary share attributable to Stratasys Ltd. - basic and diluted	$ (0.51)	$ 0.02	$ (0.91)	$ (0.02)
Weighted average ordinary shares outstanding
Basic	54,917	54,231	54,733	54,102
Diluted	54,917	54,687	54,733	54,102
Comprehensive income (loss)
Net income (loss)	$ (27,951)	$ 1,085	$ (49,739)	$ (1,228)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	287	(17)	(1,667)	(444)
Unrealized gains on derivatives designated as cash flow hedges	67	155	889	1,150
Other comprehensive income (loss), net of tax	354	138	(778)	706
Comprehensive income (loss)	(27,597)	1,223	(50,517)	(522)
Less: comprehensive income (loss) attributable to non-controlling interests	35	(67)	(50)	(110)
Comprehensive income (loss) attributable to Stratasys Ltd.	(27,632)	1,290	(50,467)	(412)
Products [Member]
Net sales
Total net sales	73,877	110,341	157,049	215,432
Cost of sales
Total cost of sales	39,969	47,095	79,217	91,264
Services [Member]
Net sales
Total net sales	43,746	52,822	93,481	103,031
Cost of sales
Total cost of sales	$ 33,918	$ 34,901	$ 67,707	$ 69,575

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) shares in Thousands, $ in Thousands	Ordinary Shares [Member]	Additional Paid-In Capital [Member]	Accumulated deficit [Member]	Accumulated Other Comprehensive Loss [Member]	Total
Beginning Balance at Dec. 31, 2018	$ 146	$ 2,681,048	$ (1,531,326)	$ (7,753)	$ 1,142,115
Beginning Balance (in shares) at Dec. 31, 2018	53,881
Cumulative effect of changes in accounting principles
Issuance of shares in connection with stock-based compensation plans		2,222			2,222
Issuance of shares in connection with stock-based compensation plans (in shares)	167
Stock-based compensation		4,229			4,229
Comprehensive income (loss)			(2,270)	568	(1,702)
Ending Balance at Mar. 31, 2019	$ 146	2,687,499	(1,533,596)	(7,185)	1,146,864
Ending Balance (in shares) at Mar. 31, 2019	54,048
Issuance of shares in connection with stock-based compensation plans	$ 1	2,030			2,031
Issuance of shares in connection with stock-based compensation plans (in shares)	296
Stock-based compensation		6,093			6,093
Comprehensive income (loss)			1,152	138	1,290
Ending Balance at Jun. 30, 2019	$ 147	2,695,622	(1,532,444)	(7,047)	1,156,278
Ending Balance (in shares) at Jun. 30, 2019	54,344
Beginning Balance at Dec. 31, 2019	$ 148	2,706,894	(1,542,175)	(7,716)	1,157,151
Beginning Balance (in shares) at Dec. 31, 2019	54,441
Issuance of shares in connection with stock-based compensation plans	$ 1	29			30
Issuance of shares in connection with stock-based compensation plans (in shares)	358
Stock-based compensation		4,907			4,907
Comprehensive income (loss)			(21,703)	(1,132)	(22,835)
Ending Balance at Mar. 31, 2020	$ 149	2,711,830	(1,563,878)	(8,848)	1,139,253
Ending Balance (in shares) at Mar. 31, 2020	54,799
Issuance of shares in connection with stock-based compensation plans	$ 1	22			23
Issuance of shares in connection with stock-based compensation plans (in shares)	231
Stock-based compensation		6,111			6,111
Comprehensive income (loss)			(27,986)	354	(27,632)
Ending Balance at Jun. 30, 2020	$ 150	$ 2,717,963	$ (1,591,864)	$ (8,494)	$ 1,117,755
Ending Balance (in shares) at Jun. 30, 2020	55,030

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities
Net loss	$ (49,739)	$ (1,228)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	25,104	25,063
Stock-based compensation	11,018	10,322
Foreign currency transaction loss (gain)	1,006	(1,603)
Deferred income taxes	(26)	(1,123)
Gain from sale of unconsolidated entity		(3,578)
Share in (profits) losses of associated companies	1,788	(1,228)
Other non-cash items, net	385	903
Change in cash attributable to changes in operating assets and liabilities:
Accounts receivable, net	29,858	6,372
Inventories	2,382	(27,128)
Net investment in sales-type leases	679	1,801
Other current assets and prepaid expenses	5,512	(6,390)
Other non-current assets	3,046	3,875
Accounts payable	(8,684)	8,812
Other current liabilities	(7,992)	(12,798)
Deferred revenues	(6,092)	(1,357)
Other non-current liabilities	(6,723)	122
Net cash provided by operating activities	1,522	837
Cash flows from investing activities
Purchase of property and equipment	(13,030)	(10,423)
Proceeds from sale of equity method investment	3,175
Net proceeds from divestitures of subsidiaries and associated companies	1,000
Proceeds from sale of plant and property		129
Purchase of intangible assets	(726)	(800)
Proceeds from sale of subsidiaries and unconsolidated entity		4,909
Other investing activities	144	(385)
Net cash used in investing activities	(9,437)	(6,570)
Cash flows from financing activities
Repayment of debt		(27,293)
Proceeds from exercise of stock options	53	4,252
Net cash provided by (used in) financing activities	53	(23,041)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(880)	1,697
Net change in cash, cash equivalents and restricted cash	(8,742)	(27,077)
Cash, cash equivalents and restricted cash, beginning of period	293,597	393,734
Cash, cash equivalents and restricted cash, end of period	284,855	366,657
Supplemental disclosures of cash flow information:
Transfer of inventory to fixed assets	1,327	2,614
Transfer of fixed assets to inventory	$ (21)	$ 127

Business Description and Basis

Business Description and Basis of Presentation	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Description and Basis of Presentation	Note 1. Business Description and Basis of Presentation Stratasys Ltd. (collectively with its subsidiaries, the “Company”) is a global provider of applied additive technology solutions for a broad range of industries. The Company focuses on customers’ business requirements and seeks to create new value for its customers across their product lifecycle processes, from design prototypes to manufacturing tools and final production parts. The Company operates a 3D printing ecosystem of solutions and expertise, comprised of: 3D printers ranging from entry-level desktop 3D printers to systems for rapid prototyping (“RP”) and large production systems for direct digital manufacturing (“DDM”) based on precise fused deposition modeling (“FDM”) and PolyJet technologies; advanced materials for use with its 3D printers; software with voxel level control; application-based services; on-demand parts; and key partnerships. The condensed consolidated interim financial information herein is unaudited; however, such information reflects all adjustments (consisting of normal, recurring adjustments), which are, in the opinion of management, necessary for a fair statement of results for the interim period. The condensed consolidated interim financial statements include the accounts of Stratasys Ltd. and its subsidiaries. All intercompany accounts and transactions, including profits from intercompany sales not yet realized outside the Company, have been eliminated in consolidation. The Company financial statements are prepared in conformity with U.S. generally accepted accounting principles ("GAAP"), which requires the Company to make estimates based on assumptions about current and, for some estimates, future economic and market conditions which affect reported amounts and related disclosures in its financial statements. Although the Company current estimates contemplate current and expected future conditions, as applicable, it is reasonably possible that actual conditions could differ from the Company expectations, which could materially affect its results of operations and financial position. In particular, a number of estimates have been and will continue to be affected by the ongoing Coronavirus Disease 2019 (COVID-19) pandemic. The severity, magnitude and duration, as well as the economic consequences of the COVID-19 pandemic, are uncertain, rapidly changing and difficult to predict. As a result, the accounting estimates and assumptions may change over time in response to COVID-19. Such changes could impact the Company’s goodwill, long-lived asset and intangible asset valuation; inventory valuation; assessment of the annual effective tax rate; and the allowance for expected credit losses and bad debt. The results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of the results to be expected for the full year. Certain financial information and footnote disclosures normally included in the annual consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. The reader is referred to the audited consolidated financial statements and notes thereto for the year ended December 31, 2019, filed with the U.S. Securities and Exchange Commission (the “SEC”) as part of the Company’s Annual Report on Form 20-F for such year on February 26, 2020.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2020
Comprehensive Income Loss Net of Tax Including Portion Attributable to Noncontrolling Interest
New Accounting Pronouncements	Note 2. New Accounting Pronouncements Accounting Pronouncements Adopted in the Current Period In August 2018, the Financial Accounting Standards Board (the “FASB”) issued an Accounting Standards Update (an “ASU”) that clarifies the accounting for implementation costs in cloud computing arrangements. This ASU requires the implementation costs incurred by customers in cloud computing arrangements to be deferred and recognized over the term of the arrangement, if those costs would be capitalized by the customers in a software licensing arrangement. The Company adopted this guidance effective January 1, 2020, with no material impact on its consolidated financial statements. In June 2016, the FASB issued an ASU that supersedes the existing impairment model for most financial assets to a current expected credit loss model. The new guidance requires an entity to recognize an impairment allowance equal to its current estimate of all contractual cash flows the entity does not expect to collect. The ASU also requires that credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses. The Company adopted this guidance effective January 1, 2020, with no material impact on its consolidated financial statements. 6 STRATASYS LTD. NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (UNAUDITED) Recently Issued Accounting Pronouncements Not Yet Adopted In December 2019, the FASB issued new guidance to simplify the accounting for income taxes by removing certain exceptions to the general principles and simplification of areas such as franchise taxes, step-up in tax basis goodwill, separate entity financial statements and interim recognition of enactment of tax laws or rate changes The guidance will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. The Company is currently evaluating the impact of the adoption of the new guidance on its consolidated financial statements.

Revenues

Revenues	6 Months Ended
	Jun. 30, 2020
Revenue Recognition [Abstract]
Revenues	Note 3. Revenues Disaggregation of Revenues The following table presents the Company’s revenues disaggregated by geographical region (based on the Company's customers' locations) and revenue type for the three and six months ended June 30, 2020 and 2019: Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 (U.S. $ in thousands) (U.S. $ in thousands) Americas Products $ 44,800 $ 67,137 $ 93,044 $ 125,191 Service 33,901 40,888 72,230 79,332 Total Americas 78,701 108,025 165,274 204,523 EMEA Products 15,743 23,323 36,490 51,408 Service 5,172 6,826 11,345 13,524 Total EMEA 20,915 30,149 47,835 64,932 Asia Pacific Products 13,334 19,881 27,515 38,833 Service 4,673 5,108 9,906 10,175 Total Asia Pacific 18,007 24,989 37,421 49,008 Total Revenues $ 117,623 $ 163,163 $ 250,530 $ 318,463 The following table presents the Company’s revenues disaggregated based on the timing of revenue recognition (at a specific point in time or over the course of time) for the three and six months ended June 30, 2020 and 2019: Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 (U.S. $ in thousands) (U.S. $ in thousands) Revenues recognized in point in time from: Products $ 73,877 $ 110,341 $ 157,049 $ 215,432 Services 8,778 10,747 19,422 21,374 Total revenues recognized in point in time 82,655 121,088 176,471 236,806 Revenues recognized over time from: Services 34,968 42,075 74,059 81,657 Total revenues recognized over time 34,968 42,075 74,059 81,657 Total Revenues $ 117,623 $ 163,163 $ 250,530 $ 318,463 8 STRATASYS LTD. NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (UNAUDITED) Contract Assets and Contract Liabilities Contract assets are recorded when the Company's right to consideration is conditional on constraints other than the passage of time. The Company had no material contract assets as of June 30, 2020 and December 31, 2019. Contract liabilities include advance payments and billings in excess of revenue recognized, which are primarily related to advanced billings for service type warranty. Contract liabilities are presented under deferred revenues. The Company's deferred revenues as of June 30, 2020 and December 31, 2019 were as follows: June 30, 2020 December 31, 2019 U.S. $ in thousands Deferred revenues* 62,106 68,307 *Includes $13.5 million and $16.0 million under long term deferred revenue in the Company's consolidated balance sheets as of June 30, 2020 and December 31, 2019, respectively. Revenue recognized in 2020 that was included in deferred revenue balance as of January 1, 2020 was $13.6 million and $31.6 million for the three and six months ended June 30, 2020, respectively. Remaining Performance Obligations Remaining Performance Obligations ("RPO") represents contracted revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. As of June 30, 2020, the total RPO amounted to $84.0 million. The Company expects to recognize $66.8 million of this RPO during the next 12 months, $12.0 million over the subsequent 12 months and the remaining $5.2 million thereafter. Incremental Costs of Obtaining a Contract Sales commissions earned mainly by the Company’s sales agents are considered incremental costs of obtaining a contract with a customer, as the Company expects the benefit of those commissions to be longer than one year. The majority of the sales commissions are not subject to capitalization, as the commission expense is recognized as the related revenue is recognized. Sales commissions for initial contracts related to the service type warranty are deferred and then amortized on a straight-line basis over the expected customer relationship period if the Company expects to recover those costs. Amortization expense is included in selling, general and administrative expenses in the consolidated statements of operations. As of June 30, 2020 and December 31, 2019, the deferred commission amounted to $4.0 million and $3.9 million respectively.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Inventories	Note 4. Inventories Inventories consisted of the following: June 30, 2020 December 31, 2019 U.S. $ in thousands Finished goods $ 84,616 $ 87,967 Work-in-process 2,982 3,106 Raw materials 76,990 77,431 164,588 168,504

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Note 5. Goodwill and Other Intangible Assets Goodwill Changes in the carrying amount of the Company’s goodwill for the six months ended June 30, 2020 were as follows: U.S. $ in thousands Goodwill as of January 1, 2020 $ 385,658 Foreign currency translation adjustments (22 ) Goodwill as of June 30, 2020 $ 385,636 During the fourth quarter of 2019, the Company performed a quantitative assessment for goodwill impairment for its Stratasys-Objet reporting unit. Following its quantitative assessment, the Company concluded that the fair value of its Stratasys-Objet reporting unit exceeded its carrying amount by approximately 8.7%, with a carrying amount of goodwill assigned to this reporting unit in an amount of $386 million. When evaluating the fair value of its Stratasys-Objet reporting unit, the Company used a discounted cash flow model which utilized Level 3 measures that represent unobservable inputs into the valuation method. Key assumptions used to determine the estimated fair value include: (a) expected cash flows for five years following the assessment date which were based on, among other factors, expected revenue growth, costs to produce, operating profit margins and estimated capital needs; (b) an estimated terminal value that utilized a terminal year growth rate of 3.1% that was determined based on the growth prospects of the reporting unit; and (c) a discount rate of 13.5% based on management’s best estimate of the after-tax weighted average cost of capital. If any of these were to vary materially from the Company's estimates, the Company could face impairment of goodwill allocated to this reporting unit in the future. Actual results may differ from those assumed in the Company's valuation method. It is reasonably possible that the Company's assumptions described above could change in future periods. If any of these were to vary materially from the Company's plans, it may record impairment of goodwill allocated to this reporting unit in the future. A hypothetical decrease in the growth rate of 1% or an increase of 1% to the discount rate would have reduced the fair value of Stratasys-Objet reporting unit by approximately $45 million and $81 million, respectively. Based on the Company’s assessment as of December 31, 2019, no goodwill was determined to be impaired. 10 STRATASYS LTD. NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (UNAUDITED) During the first quarter of 2020, the Company performed an analysis of the impact of recent events, including business and industry specific considerations, on the fair value of Stratasys-Objet reporting unit. As part of this analysis the Company considered the potential impacts of COVID-19 and the sensitivity of estimates and assumptions used in the last annual impairment test as well as changes in market capitalization. During the second quarter of 2020, the Company announced a restructuring plan to reduce operating expenses as part of a cost realignment program to focus on profitable growth (the "Plan"). The Plan’s cost-cutting measures included workforce reductions affecting approximately 10% of employees, as well as other cost-mitigation measures. Please refer to Note 12 for further discussion. The Company reassessed its analysis from the first quarter in light of macroeconomic developments and its cost-cutting measures. While the goodwill of the reporting unit is not currently impaired, there can be no assurances that goodwill will not be impaired in future periods. The Company will continue to monitor the impact of COVID-19 as well as events and changes in circumstances such as a deterioration in the business climate or operating results, significant decline in the Company's share price, changes in management’s business strategy or downward changes to the Company's cash flows projections. Other Intangible Assets Other intangible assets consisted of the following: June 30, 2020 December 31, 2019 Carrying Amount, Net of Impairment Accumulated Amortization Net Book Value Carrying Amount, Net of Impairment Accumulated Amortization Net Book Value U.S. $ in thousands Developed technology $ 294,105 $ (254,881 ) $ 39,224 $ 299,100 $ (252,136 ) $ 46,964 Patents 15,839 (7,768 ) 8,071 15,142 (7,067 ) 8,075 Trademarks and trade names 26,004 (20,544 ) 5,460 25,991 (19,966 ) 6,025 Customer relationships 101,589 (78,706 ) 22,883 102,936 (76,813 ) 26,123 Capitalized software development costs 18,489 (18,489 ) - 18,630 (18,489 ) 141 $ 456,026 $ ( 380,388 ) $ 75,638 $ 461,799 $ ( 374,471 ) $ 87,328 Amortization expenses relating to intangible assets for the three-month periods ended June 30, 2020 and 2019 were approximately $6.2 million and $6.0 million, respectively. Amortization expenses relating to intangible assets for the six-month periods ended June 30, 2020 and 2019 were approximately $12.4 million and $12.1 million, respectively. As of June 30, 2020, the estimated amortization expenses relating to intangible assets for each of the following periods were as follows: Estimated amortization expense (U.S. $ in thousands) Remaining 6 months of 2020 $ 12,421 2021 24,734 2022 24,668 2023 7,732 Thereafter 6,083 Total 75,638

Earnings (Loss) Per Share

Earnings (Loss) Per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Note 6. Earnings (Loss) Per Share The following table presents the numerator and denominator of the basic and diluted net earnings (loss) per share computations for the three and six months ended June 30, 2020 and 2019: Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 In thousands, except per share amounts In thousands, except per share amounts Numerator: Net income (loss) attributable to Stratasys Ltd. $ (27,986 ) $ 1,152 $ (49,689 ) $ (1,118 ) Denominator: Weighted average shares - denominator for Basic 54,917 54,231 54,733 54,102 Diluted 54,917 54,687 54,733 54,102 Net earnings (loss) per share attributable to  Stratasys Ltd. Basic $ (0.51 ) $ 0.02 $ (0.91 ) $ (0.02 ) Diluted $ (0.51 ) $ 0.02 $ (0.91 ) $ (0.02 ) The computation of diluted net loss per share excluded share awards of 4.9 million shares and 5.1 million shares for the six months ended June 30, 2020 and 2019, respectively, because their inclusion would have had an anti-dilutive effect on the diluted net loss per share. The computation of diluted net earnings (loss) per share excluded share awards of 4.9 million shares and 3.5 million shares for the three months ended June 30, 2020 and 2019, respectively, because their inclusion would have had an anti-dilutive effect on the diluted net earnings (loss) per share.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 7. Income Taxes The Company had income tax benefit of $2.1 million for the three-month period ended June 30, 2020 compared to income tax expenses of $1.3 million for the three month period ended June 30, 2019, and income tax benefit of $1.9 million for the six-month period ended June 30, 2020 compared to income tax expenses of $2.5 million for the six-month period ended June 30, 2019. The Company’s effective tax rate as of June 30, 2020 was primarily impacted by higher discrete tax benefits following expiration of applicable tax statute of limitations as well as geographic mix of its earnings and losses.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 8. Fair Value Measurements Financial instruments measured at fair value The following tables summarize the Company’s financial assets and liabilities that are carried at fair value on a recurring basis, in its consolidated balance sheets: June 30, 2020 December 31, 2019 (U.S. $ in thousands) Assets: Foreign exchange forward contracts not designated as hedging instruments $ 207 $ 63 Foreign exchange forward contracts designated as hedging instruments 479 315 Liabilities: Foreign exchange forward contracts not designated as hedging instruments (162 ) (388 ) Foreign exchange forward contracts designated as hedging instruments (19 ) (326 ) $ 505 $ (336 ) The Company’s foreign exchange forward contracts are classified as Level 2, as they are not actively traded and are valued using pricing models that use observable market inputs, including interest rate curves and both forward and spot prices for currencies (Level 2 inputs). Other financial instruments consist mainly of cash and cash equivalents, current and non-current receivables, net investment in sales-type leases, accounts payable and other current liabilities. The fair value of these financial instruments approximates their carrying values.

Derivative instruments and hedg

Derivative instruments and hedging activities	6 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative instruments and hedging activities	Note 9. Derivative instruments and hedging activities Since the Company conducts its operations globally, it is exposed to global market risks and to the risk that its earnings, cash flows and equity could be adversely impacted by fluctuations in foreign currency exchange rates. The Company enters into transactions involving foreign currency exchange derivative financial instruments. The Company manages its foreign currency exposures on a consolidated basis, which allows the Company to net exposures and take advantage of any natural hedging. The transactions are designed to manage the Company’s net exposure to foreign currency exchange rates and to reduce the volatility of earnings and cash flows associated with changes in foreign currency exchange rates. The Company does not enter into derivative transactions for trading purposes. The Company is primarily exposed to foreign exchange risk with respect to recognized assets and liabilities and forecasted transactions denominated in the New Israeli Shekel (“NIS”), Euro, Korean Won, Chinese Yuan and the Japanese Yen. The gains and losses on the hedging instruments partially offset losses and gains on the hedged items. Financial markets and currency volatility may limit the Company’s ability to hedge these exposures. These contracts mature through April 2021. The following table summarizes the consolidated balance sheets classification and fair values of the Company’s derivative instruments: Fair Value Notional Amount Balance sheet location June 30, 2020 December 31, 2019 June 30, 2020 December 31, 2019 U.S. $ in thousands Assets derivatives - Foreign exchange contracts, not designated as hedging instruments Other current assets $ 207 $ 63 $ 62,627 $ 11,001 Assets derivatives-Foreign exchange contracts, designated as cash flow hedge Other current assets 479 315 49,980 25,045 Liability derivatives -Foreign exchange contracts, not designated as hedging instruments Accrued expenses and other current liabilities (162 ) (388 ) 29,348 92,929 Liability derivatives - Foreign exchange contracts, designated as hedging instruments Accrued expenses and other current liabilities (19 ) (326 ) 9,555 45,262 $ 505 $ (336 ) $ 151,510 $ 174,237 Foreign exchange contracts not designated as hedging instruments As of June 30, 2020, the notional amounts of the Company’s outstanding exchange forward contracts, not designated as hedging instruments, were $92.0 million, and were used to reduce foreign currency exposures. With respect to such derivatives, losses of $1.1 million and $0.04 million were recognized under financial income (expense), net for the three-month periods ended June 30, 2020 and 2019, respectively and gains of $0.9 million and $1.2 million were recognized under financial income (expense), net for the six-month periods ended June 30, 2020 and 2019, respectively. Such gains or losses partially offset the foreign currencies revaluation changes of the balance sheet items. These foreign currencies revaluation changes are also recognized under financial income (expense), net. Cash Flow Hedging—Hedges of Forecasted Foreign Currency Payroll As of June 30, 2020, the Company had in effect foreign exchange forward contracts, designated as cash flow hedge for accounting purposes, for the conversion of $25.5 million into NIS. The Company uses short-term cash flow hedge contracts to reduce its exposure to variability in expected future cash flows resulting mainly from payroll costs denominated in NIS. The changes in fair value of those contracts are included in the Company’s accumulated other comprehensive loss. 14 STRATASYS LTD. NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (UNAUDITED) Cash Flow Hedging—Hedges of Forecasted Foreign Currency Revenue As of June 30, 2020, the Company had in effect foreign exchange forward contracts, designated as cash flow hedges for accounting purposes, for the conversion of 30.0 million Euro into U.S. dollars. The Company transacts business in U.S. dollars and in various other currencies. The Company may use foreign exchange or forward contracts to hedge certain cash flow exposures resulting from changes in these foreign currency exchange rates. These foreign exchange contracts, carried at fair value, have maturities of up to twelve months. The Company enters into these foreign exchange contracts to hedge a portion of its forecasted foreign currency denominated revenue in the normal course of business and accordingly, they are not speculative in nature.

Equity

Equity	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Equity	Note 10. Equity a. Stock-based compensation plans Stock-based compensation expenses for equity-classified stock options, restricted share units (“RSUs”) and performance stock units ("PSUs") were allocated as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 U.S $ in thousands U.S $ in thousands Cost of sales $ 497 $ 541 $ 900 $ 895 Research and development, net 1,702 1,511 3,259 2,270 Selling, general and administrative 3,912 4,041 6,859 7,157 Total stock-based compensation expenses $ 6,111 $ 6,093 $ 11,018 $ 10,322 A summary of the Company’s stock option activity for the six months ended June 30, 2020 is as follows: Number of Options Weighted Average Exercise Price Options outstanding as of January 1, 2020 1,961,532 $ 31.16 Granted 360,000 17.10 Exercised (2,237 ) 8.09 Forfeited (76,753 ) 28.74 Options outstanding as of June 30, 2020 2,242,542 $ 29.01 Options exercisable as of June 30, 2020 1,732,704 $ 32.24 As of June 30, 2020, the unrecognized compensation cost of $2.96 million related to all unvested, equity-classified stock options is expected to be recognized as an expense over a weighted-average period of 3.1 years. 15 STRATASYS LTD. NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (UNAUDITED) A summary of the Company’s RSUs and PSUs activity for the six months ended June 30, 2020 is as follows: Number of RSUs and PSUs Weighted Average Grant Date Fair Value Unvested as of January 1, 2020 2,362,991 $ 24.10 Granted 1,189,436 18.17 Vested (587,225 ) 23.57 Forfeited (286,091 ) 22.45 Unvested as of June 30, 2020 2,679,111 $ 21.76 The fair value of RSUs and PSUs is determined based on the quoted price of the Company’s ordinary shares on the date of the grant. As of June 30, 2020, the unrecognized compensation cost of $48.8 million related to all unvested, equity-classified RSUs and PSUs is expected to be recognized as expense over a weighted-average period of 2.8 years. b. Accumulated other comprehensive loss The following tables present the changes in the components of accumulated other comprehensive income (loss), net of taxes, for the six months ended June 30, 2020 and 2019, respectively: Six months ended June 30, 2020 Net unrealized gain (loss) on cash flow hedges Foreign currency translation adjustments Total U.S. $ in thousands Balance as of January 1, 2020 $ (10 ) $ (7,706 ) $ (7,716 ) Other comprehensive income (loss) before reclassifications 856 (1,667 ) (811 ) Amounts reclassified from accumulated other comprehensive loss 33 - 33 Other comprehensive income (loss) 889 (1,667 ) (778 ) Balance as of June 30, 2020 $ 879 $ (9,373 ) $ (8,494 ) 16 STRATASYS LTD. NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (UNAUDITED) Six months ended June 30, 2019 Net unrealized gain (loss) on cash flow hedges Foreign currency translation adjustments Total U.S. $ in thousands Balance as of January 1, 2019 $ (627 ) $ (7,126 ) $ (7,753 ) Other comprehensive income (loss) before reclassifications 1,277 (444 ) 833 Amounts reclassified from accumulated other comprehensive loss (127 ) - (127 ) Other comprehensive income (loss) 1,150 (444 ) 706 Balance as of June 30, 2019 $ 523 $ (7,570 ) $ (7,047 )

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Note 11. Contingencies Legal proceedings The Company is a party to various legal proceedings from time to time, the outcome of which, in the opinion of management, will not have a significant effect on the financial position, profitability or cash flows of the Company.

Restructuring Plan

Restructuring Plan	6 Months Ended
	Jun. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring Plan	Note 12. Restructuring Plan On June 2, 2020, the Company announced a restructuring plan to reduce operating expenses as part of a cost realignment program to focus on profitable growth (the "Plan"). The Plan’s cost-cutting measures included workforce reductions affecting approximately 10% of employees, as well as other cost-mitigation measures. The Company recorded $5.2 million and $3.6 million of employee related charges and other related charges, respectively, during the second quarter of 2020. With regards to the employee related charges, $0.6 million was paid during the current period and the rest are expected to be paid during the third quarter. The Company expects to incur additional restructuring charges of approximately $0.5 million, as part of this Plan.

New Accounting Pronouncements (

New Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2020
Comprehensive Income Loss Net of Tax Including Portion Attributable to Noncontrolling Interest
Accounting Pronouncements Adopted in the Current Period	Accounting Pronouncements Adopted in the Current Period In August 2018, the Financial Accounting Standards Board (the “FASB”) issued an Accounting Standards Update (an “ASU”) that clarifies the accounting for implementation costs in cloud computing arrangements. This ASU requires the implementation costs incurred by customers in cloud computing arrangements to be deferred and recognized over the term of the arrangement, if those costs would be capitalized by the customers in a software licensing arrangement. The Company adopted this guidance effective January 1, 2020, with no material impact on its consolidated financial statements. In June 2016, the FASB issued an ASU that supersedes the existing impairment model for most financial assets to a current expected credit loss model. The new guidance requires an entity to recognize an impairment allowance equal to its current estimate of all contractual cash flows the entity does not expect to collect. The ASU also requires that credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses. The Company adopted this guidance effective January 1, 2020, with no material impact on its consolidated financial statements.
Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Issued Accounting Pronouncements Not Yet Adopted In December 2019, the FASB issued new guidance to simplify the accounting for income taxes by removing certain exceptions to the general principles and simplification of areas such as franchise taxes, step-up in tax basis goodwill, separate entity financial statements and interim recognition of enactment of tax laws or rate changes The guidance will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. The Company is currently evaluating the impact of the adoption of the new guidance on its consolidated financial statements.

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2020
Revenue Recognition [Abstract]
Schedule of Disaggregation of Revenues	The following table presents the Company’s revenues disaggregated by geographical region (based on the Company's customers' locations) and revenue type for the three and six months ended June 30, 2020 and 2019: Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 (U.S. $ in thousands) (U.S. $ in thousands) Americas Products $ 44,800 $ 67,137 $ 93,044 $ 125,191 Service 33,901 40,888 72,230 79,332 Total Americas 78,701 108,025 165,274 204,523 EMEA Products 15,743 23,323 36,490 51,408 Service 5,172 6,826 11,345 13,524 Total EMEA 20,915 30,149 47,835 64,932 Asia Pacific Products 13,334 19,881 27,515 38,833 Service 4,673 5,108 9,906 10,175 Total Asia Pacific 18,007 24,989 37,421 49,008 Total Revenues $ 117,623 $ 163,163 $ 250,530 $ 318,463
Schedule of Disaggregation of Revenues Based on Time	The following table presents the Company’s revenues disaggregated based on the timing of revenue recognition (at a specific point in time or over the course of time) for the three and six months ended June 30, 2020 and 2019: Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 (U.S. $ in thousands) (U.S. $ in thousands) Revenues recognized in point in time from: Products $ 73,877 $ 110,341 $ 157,049 $ 215,432 Services 8,778 10,747 19,422 21,374 Total revenues recognized in point in time 82,655 121,088 176,471 236,806 Revenues recognized over time from: Services 34,968 42,075 74,059 81,657 Total revenues recognized over time 34,968 42,075 74,059 81,657 Total Revenues $ 117,623 $ 163,163 $ 250,530 $ 318,463
Schedule of Changes in Deferred Revenue	Contract liabilities include advance payments and billings in excess of revenue recognized, which are primarily related to advanced billings for service type warranty. Contract liabilities are presented under deferred revenues. The Company's deferred revenues as of June 30, 2020 and December 31, 2019 were as follows: June 30, 2020 December 31, 2019 U.S. $ in thousands Deferred revenues* 62,106 68,307 *Includes $13.5 million and $16.0 million under long term deferred revenue in the Company's consolidated balance sheets as of June 30, 2020 and December 31, 2019, respectively.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following: June 30, 2020 December 31, 2019 U.S. $ in thousands Finished goods $ 84,616 $ 87,967 Work-in-process 2,982 3,106 Raw materials 76,990 77,431 164,588 168,504

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in the Carrying Amount of Goodwill	Changes in the carrying amount of the Company’s goodwill for the six months ended June 30, 2020 were as follows: U.S. $ in thousands Goodwill as of January 1, 2020 $ 385,658 Foreign currency translation adjustments (22 ) Goodwill as of June 30, 2020 $ 385,636
Schedule of Other Intangible Assets	Other intangible assets consisted of the following: June 30, 2020 December 31, 2019 Carrying Amount, Net of Impairment Accumulated Amortization Net Book Value Carrying Amount, Net of Impairment Accumulated Amortization Net Book Value U.S. $ in thousands Developed technology $ 294,105 $ (254,881 ) $ 39,224 $ 299,100 $ (252,136 ) $ 46,964 Patents 15,839 (7,768 ) 8,071 15,142 (7,067 ) 8,075 Trademarks and trade names 26,004 (20,544 ) 5,460 25,991 (19,966 ) 6,025 Customer relationships 101,589 (78,706 ) 22,883 102,936 (76,813 ) 26,123 Capitalized software development costs 18,489 (18,489 ) - 18,630 (18,489 ) 141 $ 456,026 $ ( 380,388 ) $ 75,638 $ 461,799 $ ( 374,471 ) $ 87,328
Schedule of Estimated Amortization Expense Relating to Intangible Assets	Amortization expenses relating to intangible assets for the three-month periods ended June 30, 2020 and 2019 were approximately $6.2 million and $6.0 million, respectively. Amortization expenses relating to intangible assets for the six-month periods ended June 30, 2020 and 2019 were approximately $12.4 million and $12.1 million, respectively. As of June 30, 2020, the estimated amortization expenses relating to intangible assets for each of the following periods were as follows: Estimated amortization expense (U.S. $ in thousands) Remaining 6 months of 2020 $ 12,421 2021 24,734 2022 24,668 2023 7,732 Thereafter 6,083 Total 75,638

Loss Per Share (Tables)

Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Loss Per Share	The following table presents the numerator and denominator of the basic and diluted net earnings (loss) per share computations for the three and six months ended June 30, 2020 and 2019: Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 In thousands, except per share amounts In thousands, except per share amounts Numerator: Net income (loss) attributable to Stratasys Ltd. $ (27,986 ) $ 1,152 $ (49,689 ) $ (1,118 ) Denominator: Weighted average shares - denominator for Basic 54,917 54,231 54,733 54,102 Diluted 54,917 54,687 54,733 54,102 Net earnings (loss) per share attributable to  Stratasys Ltd. Basic $ (0.51 ) $ 0.02 $ (0.91 ) $ (0.02 ) Diluted $ (0.51 ) $ 0.02 $ (0.91 ) $ (0.02 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Carried at Fair Value on a Recurring Basis	The following tables summarize the Company’s financial assets and liabilities that are carried at fair value on a recurring basis, in its consolidated balance sheets: June 30, 2020 December 31, 2019 (U.S. $ in thousands) Assets: Foreign exchange forward contracts not designated as hedging instruments $ 207 $ 63 Foreign exchange forward contracts designated as hedging instruments 479 315 Liabilities: Foreign exchange forward contracts not designated as hedging instruments (162 ) (388 ) Foreign exchange forward contracts designated as hedging instruments (19 ) (326 ) $ 505 $ (336 )

Derivative instruments and he_2

Derivative instruments and hedging activities (Tables)	6 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of balance sheet classification and fair values of derivative instruments	The following table summarizes the consolidated balance sheets classification and fair values of the Company’s derivative instruments: Fair Value Notional Amount Balance sheet location June 30, 2020 December 31, 2019 June 30, 2020 December 31, 2019 U.S. $ in thousands Assets derivatives - Foreign exchange contracts, not designated as hedging instruments Other current assets $ 207 $ 63 $ 62,627 $ 11,001 Assets derivatives-Foreign exchange contracts, designated as cash flow hedge Other current assets 479 315 49,980 25,045 Liability derivatives -Foreign exchange contracts, not designated as hedging instruments Accrued expenses and other current liabilities (162 ) (388 ) 29,348 92,929 Liability derivatives - Foreign exchange contracts, designated as hedging instruments Accrued expenses and other current liabilities (19 ) (326 ) 9,555 45,262 $ 505 $ (336 ) $ 151,510 $ 174,237

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Schedule of Share-based Compensation Expense	Stock-based compensation expenses for equity-classified stock options, restricted share units (“RSUs”) and performance stock units ("PSUs") were allocated as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 U.S $ in thousands U.S $ in thousands Cost of sales $ 497 $ 541 $ 900 $ 895 Research and development, net 1,702 1,511 3,259 2,270 Selling, general and administrative 3,912 4,041 6,859 7,157 Total stock-based compensation expenses $ 6,111 $ 6,093 $ 11,018 $ 10,322
Summary of Stock Options Activity	A summary of the Company’s stock option activity for the six months ended June 30, 2020 is as follows: Number of Options Weighted Average Exercise Price Options outstanding as of January 1, 2020 1,961,532 $ 31.16 Granted 360,000 17.10 Exercised (2,237 ) 8.09 Forfeited (76,753 ) 28.74 Options outstanding as of June 30, 2020 2,242,542 $ 29.01 Options exercisable as of June 30, 2020 1,732,704 $ 32.24
Summary of RSUs and PSUs activity	A summary of the Company’s RSUs and PSUs activity for the six months ended June 30, 2020 is as follows: Number of RSUs and PSUs Weighted Average Grant Date Fair Value Unvested as of January 1, 2020 2,362,991 $ 24.10 Granted 1,189,436 18.17 Vested (587,225 ) 23.57 Forfeited (286,091 ) 22.45 Unvested as of June 30, 2020 2,679,111 $ 21.76
Schedule of Accumulated other comprehensive income (loss)	The following tables present the changes in the components of accumulated other comprehensive income (loss), net of taxes, for the six months ended June 30, 2020 and 2019, respectively: Six months ended June 30, 2020 Net unrealized gain (loss) on cash flow hedges Foreign currency translation adjustments Total U.S. $ in thousands Balance as of January 1, 2020 $ (10 ) $ (7,706 ) $ (7,716 ) Other comprehensive income (loss) before reclassifications 856 (1,667 ) (811 ) Amounts reclassified from accumulated other comprehensive loss 33 - 33 Other comprehensive income (loss) 889 (1,667 ) (778 ) Balance as of June 30, 2020 $ 879 $ (9,373 ) $ (8,494 ) 16 STRATASYS LTD. NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (UNAUDITED) Six months ended June 30, 2019 Net unrealized gain (loss) on cash flow hedges Foreign currency translation adjustments Total U.S. $ in thousands Balance as of January 1, 2019 $ (627 ) $ (7,126 ) $ (7,753 ) Other comprehensive income (loss) before reclassifications 1,277 (444 ) 833 Amounts reclassified from accumulated other comprehensive loss (127 ) - (127 ) Other comprehensive income (loss) 1,150 (444 ) 706 Balance as of June 30, 2019 $ 523 $ (7,570 ) $ (7,047 )

Revenues (Narrative) (Details)

Revenues (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Revenue Recognition [Abstract]
Revenue recognized	$ 136	$ 316,000
Deferred revenue noncurrent portion	13,489	13,489	$ 16,039
Remaining performance obligations	84,000	84,000
Expected remaining performance obligations recognized during next 12 months	66,800	66,800
Expected remaining performance obligations recognized subsequent to next 12 months	12,000	12,000
Expected remaining performance obligations recognized remainder thereafter	5,200	5,200
Deferred sales commissions	$ 4,000	$ 4,000	$ 3,900

Revenues (Schedule of Disaggreg

Revenues (Schedule of Disaggregation of Revenues) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Total Revenues	$ 117,623	$ 163,163	$ 250,530	$ 318,463
Products [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	73,877	110,341	157,049	215,432
Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	43,746	52,822	93,481	103,031
Americas [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	78,701	108,025	165,274	204,523
Americas [Member] | Products [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	44,800	67,137	93,044	125,191
Americas [Member] | Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	33,901	40,888	72,230	79,332
EMEA [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	20,915	30,149	47,835	64,932
EMEA [Member] | Products [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	15,743	23,323	36,490	51,408
EMEA [Member] | Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	5,172	6,826	11,345	13,524
Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	18,007	24,989	37,421	49,008
Asia Pacific [Member] | Products [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	13,334	19,881	27,515	38,833
Asia Pacific [Member] | Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	$ 4,673	$ 5,108	$ 9,906	$ 10,175

Revenues (Schedule of Disaggr_2

Revenues (Schedule of Disaggregation of Revenues Based on Time) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Total Revenues	$ 117,623	$ 163,163	$ 250,530	$ 318,463
Revenues recognized in point in time [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	82,655	121,088	176,471	236,806
Revenues recognized over time [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	34,968	42,075	74,059	81,657
Products [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	73,877	110,341	157,049	215,432
Products [Member] | Revenues recognized in point in time [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	73,877	110,341	157,049	215,432
Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	43,746	52,822	93,481	103,031
Services [Member] | Revenues recognized in point in time [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	8,778	10,747	19,422	21,374
Services [Member] | Revenues recognized over time [Member]
Disaggregation of Revenue [Line Items]
Total Revenues	$ 34,968	$ 42,075	$ 74,059	$ 81,657

Revenues (Schedule of Changes i

Revenues (Schedule of Changes in Deferred Revenue) (Details) - USD ($) $ in Thousands		Jun. 30, 2020	Dec. 31, 2019
Revenue Recognition [Abstract]
Deferred revenues	[1]	$ 62,106	$ 68,307
[1]	Includes $13.5 million and $16.0 million under long term deferred revenue in the Company's consolidated balance sheets as of June 30, 2020 and December 31, 2019, respectively.

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Finished goods	$ 84,616	$ 87,967
Work-in-process	2,982	3,106
Raw materials	76,990	77,431
Total Inventory	$ 164,588	$ 168,504

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	Jun. 02, 2020	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Goodwill		$ 385,636	$ 385,658		$ 385,636
Amortization of intangible assets		$ 6,200		$ 6,000	$ 12,400	$ 12,100
Percentage of employee reduced	10.00%	10.00%
Stratasys-Objet reporting unit [Member]
Percentage of fair value exceeding carrying value of reporting units			8.70%
Goodwill			$ 386,000
Expected cash flow period			5 years
Discount rate (as a percent)			13.50%
Growth rate (as a percent)			3.10%
Percentage of decrease in terminal year growth rate			1.00%
Percentage of increase in terminal year growth rate			1.00%
Change in fair value due to 1% decrease in terminal year growth rate			$ 45,000
Change in fair value due to 1% increase in terminal year growth rate			$ 81,000

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Schedule of Changes in the Carrying Amount of Goodwill) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill as of January 1, 2020	$ 385,658
Foreign currency translation adjustments	(22)
Goodwill as of June 30, 2020	$ 385,636

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Schedule of Other Intangible Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 456,026	$ 461,799
Accumulated Amortization	(380,388)	(374,471)
Net Book Value	75,638	87,328
Developed technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	294,105	299,100
Accumulated Amortization	(254,881)	(252,136)
Net Book Value	39,224	46,964
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	15,839	15,142
Accumulated Amortization	(7,768)	(7,067)
Net Book Value	8,071	8,075
Trademarks and trade names [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	26,004	25,991
Accumulated Amortization	(20,544)	(19,966)
Net Book Value	5,460	6,025
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	101,589	102,936
Accumulated Amortization	(78,706)	(76,813)
Net Book Value	22,883	26,123
Capitalized software development costs [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	18,489	18,630
Accumulated Amortization	(18,489)	(18,489)
Net Book Value		$ 141

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets (Schedule of Estimated Amortization Expense Relating to Intangible Assets) (Details) $ in Thousands	Jun. 30, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining 6 months of 2020	$ 12,421
2021	24,734
2022	24,668
2023	7,732
Thereafter	6,083
Total	$ 75,638

Earnings (Loss) Per Share (Narr

Earnings (Loss) Per Share (Narrative) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of net loss per share	4.9	3.5	4.9	5.1

Earnings (Loss) Per Share (Sche

Earnings (Loss) Per Share (Schedule of Basic and Diluted Loss Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Numerator:
Net income (loss) attributable to Stratasys Ltd.	$ (27,986)	$ 1,152	$ (49,689)	$ (1,118)
Denominator:
Weighted average shares - denominator for basic net loss per share	54,917	54,231	54,733	54,102
Weighted average shares - denominator for diluted net loss per share	54,917	54,687	54,733	54,102
Net loss per share attributable to Stratasys Ltd.
Basic	$ (0.51)	$ 0.02	$ (0.91)	$ (0.02)
Diluted	$ (0.51)	$ 0.02	$ (0.91)	$ (0.02)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income tax expenses	$ (2,128)	$ 1,280	$ (1,907)	$ 2,498

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Fair Value Measurements) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset (liabilities)	$ 505	$ (336)
Foreign Exchange Future [Member] | Recurring [Member] | Not Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	207	63
Derivative liabilities	(162)	(388)
Foreign Exchange Future [Member] | Recurring [Member] | Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	479	315
Derivative liabilities	$ (19)	$ (326)

Derivative instruments and he_3

Derivative instruments and hedging activities (Narrative) (Details) $ in Thousands, € in Millions, ₪ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020ILS (₪)	Jun. 30, 2020EUR (€)
Derivatives, Fair Value [Line Items]
Notional amount of derivative asset	$ 92,000		$ 92,000
Gain (Loss) on derivative instrument	$ 1,100	$ 40	$ 900	$ 1,200
Other current assets [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Conversion To NIS [Member]
Derivatives, Fair Value [Line Items]
Notional amount of derivative asset | ₪					₪ 25.5
Other current assets [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Conversion To Euro [Member]
Derivatives, Fair Value [Line Items]
Notional amount of derivative asset | €						€ 30

Derivatives and Hedging Activit

Derivatives and Hedging Activities (Schedule of Balance Sheet Classification and Fair Values of Derivative Instruments) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Notional amount of derivative asset	$ 92,000
Fair value	505	$ (336)
Notional amount	151,510	174,237
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Other current assets [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative asset	207	63
Notional amount of derivative asset	62,627	11,001
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Accrued expenses and other current liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative liability	(162)	(388)
Notional amount of derivative liability	29,348	92,929
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Other current assets [Member] | Cash Flow Hedge [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative asset	479	315
Notional amount of derivative asset	49,980	25,045
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Accrued expenses and other current liabilities [Member] | Cash Flow Hedge [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative liability	(19)	(326)
Notional amount of derivative liability	$ 9,555	$ 45,262

Equity (Narrative) (Details)

Equity (Narrative) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 296
Weighted average period for recognition	3 years 1 month 6 days
RSUs and PSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 488
Weighted average period for recognition	2 years 9 months 18 days

Equity (Schedule of Stock-based

Equity (Schedule of Stock-based Compensation) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	$ 6,111	$ 6,093	$ 11,018	$ 10,322
Cost of sales [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	497	541	900	895
Research and development, net [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	1,702	1,511	3,259	2,270
Selling, general and administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	$ 3,912	$ 4,041	$ 6,859	$ 7,157

Equity (Schedule of Stock Optio

Equity (Schedule of Stock Option Activity) (Details)	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Number of Options
Options outstanding as of January 1, 2020 | shares	1,961,532
Granted | shares	360,000
Exercised | shares	(2,237)
Forfeited | shares	(76,753)
Options outstanding as of June 30, 2020 | shares	2,242,542
Options exercisable as of June 30, 2020 | shares	1,732,704
Weighted Average Exercise Price
Options outstanding as of January 1, 2020 | $ / shares	$ 31.16
Granted | $ / shares	17.10
Exercised | $ / shares	8.09
Forfeited | $ / shares	28.74
Options outstanding as of June 30, 2020 | $ / shares	29.01
Options exercisable as of June 30, 2020 | $ / shares	$ 32.24

Equity (Summary of RSUs and PSU

Equity (Summary of RSUs and PSUs Activity) (Details) - RSUs and PSUs [Member]	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Number of RSUs and PSUs
Unvested as of January 1, 2020 | shares	2,362,991
Granted | shares	1,189,436
Vested | shares	(587,225)
Forfeited | shares	(286,091)
Unvested as of June 30, 2020 | shares	2,679,111
Weighted Average Grant Date Fair Value
Unvested as of January 1, 2020 | $ / shares	$ 24.10
Granted | $ / shares	18.17
Vested | $ / shares	23.57
Forfeited | $ / shares	22.45
Unvested as of June 30, 2020 | $ / shares	$ 21.76

Equity (Schedule of Accumulated

Equity (Schedule of Accumulated other comprehensive income (loss) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of beginning of period	$ (7,716)	$ (7,753)
Other comprehensive income (loss) before reclassifications	(811)	833
Amounts reclassified from accumulated other comprehensive loss	33	(127)
Other comprehensive income (loss)	(778)	706
Balance as of end of period	(8,494)	(7,047)
Net unrealized gain (loss) on cash flow hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of beginning of period	(10)	(627)
Other comprehensive income (loss) before reclassifications	856	1,277
Amounts reclassified from accumulated other comprehensive loss	33	(127)
Other comprehensive income (loss)	889	1,150
Balance as of end of period	879	523
Foreign currency translation adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of beginning of period	(7,706)	(7,126)
Other comprehensive income (loss) before reclassifications	(1,667)	(444)
Amounts reclassified from accumulated other comprehensive loss
Other comprehensive income (loss)	(1,667)	(444)
Balance as of end of period	$ (9,373)	$ (7,570)

Restructuring Plan (Details)

Restructuring Plan (Details) - USD ($) $ in Millions	Jun. 02, 2020	Jun. 30, 2020	Jun. 30, 2020
Restructuring Cost and Reserve [Line Items]
Percentage of employees reduced	10.00%	10.00%
Restructuring charges			$ 0.5
Employee Related Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 5.2
Restructuring charges paid		0.6
Other Related Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 3.6