Stratasys (SSYS) 6-K 12 Nov 20 Condensed Consolidated Interim Financial Statements Financial data

Document And Entity Information

Document And Entity Information	9 Months Ended
	Sep. 30, 2020
Document Information Line Items
Entity Registrant Name	STRATASYS LTD.
Document Type	6-K
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001517396
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Address, Address Line One	1 Holtzman Street
Entity Address, Address Line Three	P.O. Box 2496
Entity Address, Address Line Two	Science Park
Entity Address, City or Town	Rehovot
Entity Address, Country	IL
Entity Address, Postal Zip Code	76124
Entity File Number	001-35751

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 252,906	$ 293,484
Short-term deposits	55,300	28,300
Accounts receivable, net	103,693	132,558
Inventories	152,685	168,504
Prepaid expenses	7,568	6,567
Other current assets	19,209	29,659
Total current assets	591,361	659,072
Non-current assets
Property, plant and equipment, net	198,521	189,706
Goodwill		385,658
Other intangible assets, net	65,083	87,328
Operating lease right-of-use assets	18,905	20,936
Other non-current assets	35,238	38,819
Total non-current assets	317,747	722,447
Total assets	909,108	1,381,519
Current liabilities
Accounts payable	23,478	35,818
Accrued expenses and other current liabilities	26,462	28,528
Accrued compensation and related benefits	28,536	34,013
Deferred revenues	47,288	52,268
Operating lease liabilities - short term	8,675	9,292
Total current liabilities	134,439	159,919
Non-current liabilities
Deferred revenues - long-term	13,436	16,039
Operating lease liabilities - long term	10,600	12,445
Other non-current liabilities	33,291	35,343
Total non-current liabilities	57,327	63,827
Total liabilities	191,766	223,746
Contingencies (see note 11)
Redeemable non-controlling interests	568	622
Equity
Ordinary shares, NIS 0.01 nominal value, authorized 180,000 thousands shares; 55,112 thousands shares and 54,441 thousands shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively	150	148
Additional paid-in capital	2,722,839	2,706,894
Accumulated other comprehensive loss	(9,289)	(7,716)
Accumulated deficit	(1,996,926)	(1,542,175)
Total equity	716,774	1,157,151
Total liabilities and equity	$ 909,108	$ 1,381,519

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parentheticals) - ₪ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in New Shekels per share)	₪ 0.01	₪ 0.01
Common stock, shares authorized	180,000	180,000
Common stock, shares issued	55,112	54,441
Common stock, shares outstanding	55,112	54,441

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net sales
Net sales	$ 127,892	$ 157,460	$ 378,422	$ 475,923
Cost of sales
Cost of sales	78,123	80,051	225,047	240,890
Gross profit	49,769	77,409	153,375	235,033
Operating expenses
Research and development, net	19,562	23,620	65,059	70,234
Selling, general and administrative	48,343	59,741	155,630	173,217
Goodwill impairment	386,154		386,154
Total operating expenses	454,059	83,361	606,843	243,451
Operating loss	(404,290)	(5,952)	(453,468)	(8,418)
Financial income (expenses), net	(167)	289	(847)	2,796
Loss before income taxes	(404,457)	(5,663)	(454,315)	(5,622)
Income tax expenses (benefit)	(343)	586	(2,250)	3,084
Share in profits (losses) of associated companies	(952)	(733)	(2,740)	495
Net loss	(405,066)	(6,982)	(454,805)	(8,211)
Net loss attributable to non-controlling interests	(4)	(41)	(54)	(152)
Net loss attributable to Stratasys Ltd.	$ (405,062)	$ (6,941)	$ (454,751)	$ (8,059)
Net loss per ordinary share attributable to Stratasys Ltd. - basic and diluted (in Dollars per share)	$ (7.35)	$ (0.13)	$ (8.29)	$ (0.15)
Weighted average ordinary shares outstanding - basic and diluted (in Shares)	55,086	54,394	54,851	54,201
Comprehensive loss
Net loss	$ (405,066)	$ (6,982)	$ (454,805)	$ (8,211)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	1,056	(954)	(611)	(1,398)
Unrealized gains (losses) on derivatives designated as cash flow hedges	(1,851)	34	(962)	1,184
Other comprehensive income (loss), net of tax	(795)	(920)	(1,573)	(214)
Comprehensive loss	(405,861)	(7,902)	(456,378)	(8,425)
Less: comprehensive loss attributable to non-controlling interests	(4)	(41)	(54)	(152)
Comprehensive loss attributable to Stratasys Ltd.	(405,857)	(7,861)	(456,324)	(8,273)
Products
Net sales
Net sales	83,548	106,346	240,597	321,778
Cost of sales
Cost of sales	47,339	44,341	126,556	135,605
Services
Net sales
Net sales	44,344	51,114	137,825	154,145
Cost of sales
Cost of sales	$ 30,784	$ 35,710	$ 98,491	$ 105,285

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Ordinary Shares		Additional Paid-In Capital	Accumulated deficit	Accumulated Other Comprehensive Loss	Total
Balance at Dec. 31, 2018	$ 146		$ 2,681,048	$ (1,531,326)	$ (7,753)	$ 1,142,115
Balance (in Shares) at Dec. 31, 2018	53,881
Issuance of shares in connection with stock-based compensation plans		[1]	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)
Balance at Mar. 31, 2019	$ 146		2,687,499	(1,533,596)	(7,185)	1,146,864
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
Balance at Jun. 30, 2019	$ 147		2,695,622	(1,532,444)	(7,047)	1,156,278
Balance (in Shares) at Jun. 30, 2019	54,344
Issuance of shares in connection with stock-based compensation plans	$ 1		917			918
Issuance of shares in connection with stock-based compensation plans (in Shares)	84
Stock-based compensation			5,435			5,435
Comprehensive income (loss)				(6,941)	(920)	(7,861)
Balance at Sep. 30, 2019	$ 148		2,701,974	(1,539,385)	(7,967)	1,154,770
Balance (in Shares) at Sep. 30, 2019	54,428
Balance at Dec. 31, 2019	$ 148		2,706,894	(1,542,175)	(7,716)	1,157,151
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)
Balance at Mar. 31, 2020	$ 149		2,711,830	(1,563,878)	(8,848)	1,139,253
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)
Balance at Jun. 30, 2020	$ 150		2,717,963	(1,591,864)	(8,494)	1,117,755
Balance (in Shares) at Jun. 30, 2020	55,030
Issuance of shares in connection with stock-based compensation plans		[1]
Issuance of shares in connection with stock-based compensation plans (in Shares)	82
Stock-based compensation			4,876			4,876
Comprehensive income (loss)				(405,062)	(795)	(405,857)
Balance at Sep. 30, 2020	$ 150		$ 2,722,839	$ (1,996,926)	$ (9,289)	$ 716,774
Balance (in Shares) at Sep. 30, 2020	55,112
[1]	Represents an amount less than 0.5 thousand

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities
Net loss	$ (454,805)	$ (8,211)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Goodwill impairment	386,154
Intangible assets impairment charges	5,256
Depreciation and amortization	37,428	37,934
Stock-based compensation	15,894	15,757
Foreign currency transaction loss (gain)	(2,565)	777
Deferred income taxes	(1,541)	(1,667)
Share in losses (profits) of associated companies	2,740	(495)
Gain from sale of unconsolidated entity		(3,578)
Other non-cash items, net	338	720
Change in cash attributable to changes in operating assets and liabilities:
Accounts receivable, net	29,563	2,827
Inventories	15,167	(44,925)
Net investment in sales-type leases	917	2,450
Other current assets and prepaid expenses	5,805	(6,922)
Other non-current assets	1,764	5,377
Accounts payable	(17,579)	(4,793)
Other current liabilities	(8,430)	(424)
Deferred revenues	(8,070)	(2,764)
Other non-current liabilities	(3,932)	172
Net cash provided by (used in) operating activities	4,104	(7,765)
Cash flows from investing activities
Purchase of property and equipment	(19,912)	(16,472)
Proceeds from sale of equity method investment	3,175
Investments in short-term bank deposits	(27,000)
Net proceeds from divestitures of subsidiaries and associated companies	1,000
Investment in unconsolidated entities		(4,500)
Purchase of intangible assets	(1,598)	(1,643)
Proceeds from sale of plant and property		129
Proceeds from sale of subsidiaries and unconsolidated entity		4,909
Other investing activities	89	(679)
Net cash used in investing activities	(44,246)	(18,256)
Cash flows from financing activities
Repayment of debt		(27,293)
Proceeds from exercise of stock options	53	5,169
Net cash provided by (used in) financing activities	53	(22,124)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(484)	1,602
Net change in cash, cash equivalents and restricted cash	(40,573)	(46,543)
Cash, cash equivalents and restricted cash, beginning of period	293,597	393,734
Cash, cash equivalents and restricted cash, end of period	253,024	347,191
Supplemental disclosures of cash flow information:
Transfer of inventory to fixed assets	2,445	2,304
Transfer of fixed assets to inventory	$ 281	$ 201

Business Description and Basis

Business Description and Basis of Presentation	9 Months Ended
	Sep. 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's 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 ( “ The results of operations for the three and nine months ended September 30, 2020 include a goodwill impairment charge of $386.2 million, and are not indicative of results that could be expected for the entire fiscal 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	9 Months Ended
	Sep. 30, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
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. 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	9 Months Ended
	Sep. 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 nine months ended September 30, 2020 and 2019: Three months ended September 30, Nine months ended September 30, 2020 2019 2020 2019 (U.S. $ in thousands) (U.S. $ in thousands) Americas Products $ 52,827 $ 67,088 $ 145,871 $ 192,279 Service 33,770 39,816 106,000 119,149 Total Americas 86,597 106,904 251,871 311,428 EMEA Products 17,245 22,710 53,735 74,119 Service 6,003 6,223 17,348 19,747 Total EMEA 23,248 28,933 71,083 93,866 Asia Pacific Products 13,476 16,548 40,991 55,380 Service 4,571 5,075 14,477 15,249 Total Asia Pacific 18,047 21,623 55,468 70,629 Total Revenues $ 127,892 $ 157,460 $ 378,422 $ 475,923 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 nine months ended September 30, 2020 and 2019: Three months ended September 30, Nine months ended September 30, 2020 2019 2020 2019 (U.S. $ in thousands) (U.S. $ in thousands) Revenues recognized in point in time from: Products $ 83,548 $ 106,346 $ 240,597 $ 321,778 Services 10,387 11,157 29,809 32,531 Total revenues recognized in point in time 93,935 117,503 270,406 354,309 Revenues recognized over time from: Services 33,957 39,957 108,016 121,614 Total revenues recognized over time 33,957 39,957 108,016 121,614 Total Revenues $ 127,892 $ 157,460 $ 378,422 $ 475,923 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 September 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 September 30, 2020 and December 31, 2019 were as follows: September 30, December 31, 2020 2019 U.S. $ in thousands Deferred revenues* 60,724 68,307 *Includes $13.4 million and $16.0 million under long term deferred revenue in the Company's consolidated balance sheets as of September 30, 2020 and December 31, 2019, respectively. Revenue recognized in 2020 that was included in deferred revenue balance as of January 1, 2020 was $10.5 million and $42.1 million for the three and nine months ended September 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 September 30, 2020, the total RPO amounted to $82.1 million. The Company expects to recognize $68.3 million of this RPO during the next 12 months, $9.2 million over the subsequent 12 months and the remaining $4.6 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 September 30, 2020 and December 31, 2019, the deferred commissions amounted to $4.4 million and $3.9 million, respectively.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Inventories	Note 4. Inventories Inventories consisted of the following: September 30, December 31, 2020 2019 U.S. $ in thousands Finished goods $ 72,373 $ 87,967 Work-in-process 2,838 3,106 Raw materials 77,474 77,431 152,685 168,504

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 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 nine months ended September 30, 2020 were as follows: U.S. $ in thousands Goodwill as of January 1, 2020 $ 385,658 Foreign currency translation adjustments 496 Goodwill impairment (386,154 ) Goodwill as of September 30, 2020 $ - 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. 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 the 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 “ ” Based on the Company's goodwill assessment for the Stratasys-Objet reporting unit, the Company determined that no impairment was required as of June 30, 2020, and March 31, 2020. During the third quarter of 2020, the Company noted that indicators of potential impairment existed which required an interim goodwill impairment analysis for Stratasys-Objet reporting unit. These indicators included longer and deeper than expected reduction in the business, refinement to the company’s business focus into additional inorganic technologies and sustained decline in the Company’s market capitalization during the past two quarters, all, As a result of the factors discussed above, the Company revisited its assumptions supporting the cash flow projections for its Stratasys-Objet reporting unit, including: (i) the expected duration and depth of revenue reduction and certain revenue growth assumptions; (ii) the associated operating profit margins; and (iii) the long term growth rate. In estimating the discounted cash flow, the Company used the following key assumptions: the Company currently expects it will take approximately two years to regain the loss of revenue and return to its pre COVID-19 activity levels considering the impact of both volume and price with a similar effect on profitability. Following such period, the Company expects to return to similar growth rates as estimated in prior valuations. The Company assumes a long term terminal growth rate of 2.5% lower than the 3.1% used in prior valuations. In addition, changes in business focus due to introduction of new technologies is expected to lower the total revenues related to the Stratasys-Objet reporting unit. The resulting cash flow amounts were discounted using the same discount rate of 13.5%. Based on the revised cash flow projections, the value of the reporting unit has decreased below its carrying value, and the Company recorded in the third quarter of 2020, goodwill impairment charge of $386.2 million, the entire reporting unit’s goodwill. Other Intangible Assets Other intangible assets consisted of the following: September 30, 2020 December 31, 2019 Carrying Amount, Net Carrying Amount, Net Net of Accumulated Book Net of Accumulated Book Impairment Amortization Value Impairment Amortization Value U.S. $ in thousands Developed technology $ 286,888 $ (256,861 ) $ 30,027 $ 299,100 $ (252,136 ) $ 46,964 Patents 16,722 (8,145 ) 8,577 15,142 (7,067 ) 8,075 Trademarks and trade names 26,019 (20,829 ) 5,190 25,991 (19,966 ) 6,025 Customer relationships 101,745 (80,456 ) 21,289 102,936 (76,813 ) 26,123 Capitalized software development costs 18,489 (18,489 ) - 18,630 (18,489 ) 141 $ 449,863 $ (384,780 ) $ 65,083 $ 461,799 $ (374,471 ) $ 87,328 During the third quarter of 2020, the Company concluded that the carrying amount of certain of its definite-life purchased intangible assets are not recoverable due to certain indicators of impairment including weaker than expected operating results an d due to management decision in the third quarter of 2020 to stop selling these products . The Company assessed the recoverability of its definite-life intangibles assets based on their projected undisco unted future cash flows expected to result from each intangible asset. Based on the results of the recoverability assessment, the Company determined that the carrying values of certain intangible assets exceed their undiscounted cash flow projections and therefore were not recoverable. 5.3 million during the third quarter of 2020. Impairment charges of $ 5.3 million, related to developed technology intangible assets were classified as costs of sales. Amortization expenses relating to intangible assets for the three-month periods ended September 30, 2020 and 2019 were approximately $6.2 million and $6.5 million, respectively. Amortization expenses relating to intangible assets for the nine-month periods ended September 30, 2020 and 2019 were approximately $18.6 million each. As of September 30, 2020, the estimated amortization expenses relating to intangible assets for each of the following future periods were as follows: Estimated amortization expenses (U.S. $ in thousands) Remaining 3 months of 2020 $ 6,019 2021 23,857 2022 21,884 2023 7,315 Thereafter 6,008 Total 65,083

Loss Per Share

Loss Per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Loss Per Share	Note 6. Loss Per Share The following table presents the numerator and denominator of the basic and diluted net loss per share computations for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 In thousands, except per share amounts In thousands, except per share amounts Numerator: Net loss attributable to Stratasys Ltd. for basic and diluted loss per share $ (405,062 ) $ (6,941 ) $ (454,751 ) $ (8,059 ) Denominator: Weighted average shares - denominator for basic and diluted net loss per share 55,086 54,394 54,851 54,201 Net loss per share attributable to Stratasys Ltd. Basic $ (7.35 ) $ (0.13 ) $ (8.29 ) $ (0.15 ) Diluted $ (7.35 ) $ (0.13 ) $ (8.29 ) $ (0.15 ) The computation of diluted net loss per share excluded share awards of 4.8 million shares and 4.5 million shares for the three and nine months ended September 30, 2020 and 2019, respectively, because their inclusion would have had an anti-dilutive effect on the diluted net loss per share.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 7. Income Taxes The Company had income tax benefit of $0.3 million for the three-month period ended September 30, 2020 compared to income tax expenses of $0.6 million for the three month period ended September 30, 2019, and income tax benefit of $2.2 million for the nine-month period ended September 30, 2020 compared to income tax expenses of $3.1 million for the nine-month period ended September 30, 2019. The Company’s effective tax rate as of September 30, 2020 was primarily impacted by the goodwill impairment charge, which is not deductible for tax purposes.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 8. Fair Value Measurements Financial instruments measured at fair value The following table summarizes the Company’s financial assets and liabilities that are carried at fair value on a recurring basis, in its consolidated balance sheets: September 30, 2020 December 31, 2019 (U.S. $ in thousands) Assets: Foreign exchange forward contracts not designated as hedging instruments $ 100 $ 63 Foreign exchange forward contracts designated as hedging instruments 220 315 Liabilities: Foreign exchange forward contracts not designated as hedging instruments (534 ) (388 ) Foreign exchange forward contracts designated as hedging instruments (552 ) (326 ) $ (766 ) $ (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, short-term deposits, 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	9 Months Ended
	Sep. 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 July 2021. The following table summarizes the consolidated balance sheets classification and fair values of the Company’s derivative instruments: Fair Value Notional Amount September 30, December 31, September 30, December 31, Balance sheet location 2020 2019 2020 2019 U.S. $ in thousands Assets derivatives -Foreign exchange contracts, not designated as hedging instruments Other current assets $ 100 $ 63 $ 48,847 $ 11,001 Assets derivatives -Foreign exchange contracts, designated as cash flow hedging Other current assets 220 315 25,635 25,045 Liability derivatives -Foreign exchange contracts, not designated as hedging instruments Accrued expenses and other current liabilities (534 ) (388 ) 30,605 92,929 Liability derivatives -Foreign exchange contracts, designated as hedging instruments Accrued expenses and other current liabilities (552 ) (326 ) 18,500 45,262 $ (766 ) $ (336 ) $ 123,587 $ 174,237 Foreign exchange contracts not designated as hedging instruments As of September 30, 2020, the notional amounts of the Company’s outstanding exchange forward contracts, not designated as hedging instruments, were $79.5 million, and were used to reduce foreign currency exposures. With respect to such derivatives, losses of $3.2 million were recognized under financial income (expenses), net for the three-month periods ended September 30, 2020 and 2019, and losses of $2.4 million and $4.5 million were recognized under financial income (expenses), net for the nine-month periods ended September 30, 2020 and 2019, respectively. Such gains or losses partially offset the foreign currency revaluation changes of the balance sheet items. These foreign currencies revaluation changes are also recognized under financial income (expenses), net. Cash Flow Hedging - Hedges of Forecasted Foreign Currency Payroll As of September 30, 2020, the Company had in effect foreign exchange forward contracts, designated as cash flow hedges for accounting purposes, for the conversion of $23.5 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. Cash Flow Hedging - Hedges of Forecasted Foreign Currency Revenue As of September 30, 2020, the Company had in effect foreign exchange forward contracts, designated as cash flow hedges for accounting purposes, for the conversion of 18.0 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	9 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [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 Nine Months Ended September 30, September 30, 2020 2019 2020 2019 U.S $ in thousands U.S $ in thousands Cost of sales $ 524 $ 475 $ 1,424 $ 1,370 Research and development, net 1,587 1,494 4,846 3,764 Selling, general and administrative 2,765 3,466 9,624 10,623 Total stock-based compensation expenses $ 4,876 $ 5,435 $ 15,894 $ 15,757 A summary of the Company’s stock option activity for the nine months ended September 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 (145,504 ) 38.71 Options outstanding as of September 30, 2020 2,173,791 28.34 Options exercisable as of September 30, 2020 1,739,420 $ 31.03 As of September 30, 2020, the unrecognized compensation cost of $2.1 million related to all unvested, equity-classified stock options is expected to be recognized as an expense over a weighted-average period of 3.2 years. A summary of the Company’s RSUs and PSUs activity for the nine months ended September 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 1,425,536 17.80 Vested (669,477 ) 23.21 Forfeited (445,400 ) 21.97 Unvested as of September 30, 2020 2,673,650 $ 21.32 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 September 30, 2020, the unrecognized compensation cost of $45.1 million related to all unvested, equity-classified RSUs and PSUs is expected to be recognized as expense over a weighted-average period of 2.7 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 nine months ended September 30, 2020 and 2019, respectively: Nine Months Ended September 30, 2020 Net Unrealized 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 loss before reclassifications (299 ) (611 ) (910 ) Amounts reclassified from accumulated other comprehensive loss (663 ) - (663 ) Other comprehensive loss (962 ) (611 ) (1,573 ) Balance as of September 30, 2020 $ (972 ) $ (8,317 ) $ (9,289 ) Nine Months Ended September 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 1,689 (1,398 ) 291 Amounts reclassified from accumulated other comprehensive loss (505 ) - (505 ) Other comprehensive income (loss) 1,184 (1,398 ) (214 ) Balance as of September 30, 2019 $ 557 $ (8,524 ) $ (7,967 )

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2020
Loss Contingency [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	9 Months Ended
	Sep. 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. During the third quarter the Company recorded an additional $0.3 million of employee-related charges with respect to the Plan. As of September 30, 2020, an amount of $4.5 million was paid out the total employee-related charges recorded. The remaining amount is expected to be paid by during the fourth quarter.

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Schedule of disaggregation of revenues	Three months ended September 30, Nine months ended September 30, 2020 2019 2020 2019 (U.S. $ in thousands) (U.S. $ in thousands) Americas Products $ 52,827 $ 67,088 $ 145,871 $ 192,279 Service 33,770 39,816 106,000 119,149 Total Americas 86,597 106,904 251,871 311,428 EMEA Products 17,245 22,710 53,735 74,119 Service 6,003 6,223 17,348 19,747 Total EMEA 23,248 28,933 71,083 93,866 Asia Pacific Products 13,476 16,548 40,991 55,380 Service 4,571 5,075 14,477 15,249 Total Asia Pacific 18,047 21,623 55,468 70,629 Total Revenues $ 127,892 $ 157,460 $ 378,422 $ 475,923
Schedule of disaggregated based on the timing of revenue recognition	Three months ended September 30, Nine months ended September 30, 2020 2019 2020 2019 (U.S. $ in thousands) (U.S. $ in thousands) Revenues recognized in point in time from: Products $ 83,548 $ 106,346 $ 240,597 $ 321,778 Services 10,387 11,157 29,809 32,531 Total revenues recognized in point in time 93,935 117,503 270,406 354,309 Revenues recognized over time from: Services 33,957 39,957 108,016 121,614 Total revenues recognized over time 33,957 39,957 108,016 121,614 Total Revenues $ 127,892 $ 157,460 $ 378,422 $ 475,923
Schedule of changes in deferred revenue	September 30, December 31, 2020 2019 U.S. $ in thousands Deferred revenues* 60,724 68,307 *Includes $13.4 million and $16.0 million under long term deferred revenue in the Company's consolidated balance sheets as of September 30, 2020 and December 31, 2019, respectively.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Schedule of Inventories	September 30, December 31, 2020 2019 U.S. $ in thousands Finished goods $ 72,373 $ 87,967 Work-in-process 2,838 3,106 Raw materials 77,474 77,431 152,685 168,504

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying amount of goodwill	U.S. $ in thousands Goodwill as of January 1, 2020 $ 385,658 Foreign currency translation adjustments 496 Goodwill impairment (386,154 ) Goodwill as of September 30, 2020 $ -
Schedule of other intangible assets	September 30, 2020 December 31, 2019 Carrying Amount, Net Carrying Amount, Net Net of Accumulated Book Net of Accumulated Book Impairment Amortization Value Impairment Amortization Value U.S. $ in thousands Developed technology $ 286,888 $ (256,861 ) $ 30,027 $ 299,100 $ (252,136 ) $ 46,964 Patents 16,722 (8,145 ) 8,577 15,142 (7,067 ) 8,075 Trademarks and trade names 26,019 (20,829 ) 5,190 25,991 (19,966 ) 6,025 Customer relationships 101,745 (80,456 ) 21,289 102,936 (76,813 ) 26,123 Capitalized software development costs 18,489 (18,489 ) - 18,630 (18,489 ) 141 $ 449,863 $ (384,780 ) $ 65,083 $ 461,799 $ (374,471 ) $ 87,328
Schedule of estimated amortization expense relating to intangible assets	Estimated amortization expenses (U.S. $ in thousands) Remaining 3 months of 2020 $ 6,019 2021 23,857 2022 21,884 2023 7,315 Thereafter 6,008 Total 65,083

Loss Per Share (Tables)

Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Loss Per Share	Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 In thousands, except per share amounts In thousands, except per share amounts Numerator: Net loss attributable to Stratasys Ltd. for basic and diluted loss per share $ (405,062 ) $ (6,941 ) $ (454,751 ) $ (8,059 ) Denominator: Weighted average shares - denominator for basic and diluted net loss per share 55,086 54,394 54,851 54,201 Net loss per share attributable to Stratasys Ltd. Basic $ (7.35 ) $ (0.13 ) $ (8.29 ) $ (0.15 ) Diluted $ (7.35 ) $ (0.13 ) $ (8.29 ) $ (0.15 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities carried at fair value on a recurring basis	September 30, 2020 December 31, 2019 (U.S. $ in thousands) Assets: Foreign exchange forward contracts not designated as hedging instruments $ 100 $ 63 Foreign exchange forward contracts designated as hedging instruments 220 315 Liabilities: Foreign exchange forward contracts not designated as hedging instruments (534 ) (388 ) Foreign exchange forward contracts designated as hedging instruments (552 ) (326 ) $ (766 ) $ (336 )

Derivative instruments and he_2

Derivative instruments and hedging activities (Tables)	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of balance sheet classification and fair values of derivative instruments	Fair Value Notional Amount September 30, December 31, September 30, December 31, Balance sheet location 2020 2019 2020 2019 U.S. $ in thousands Assets derivatives -Foreign exchange contracts, not designated as hedging instruments Other current assets $ 100 $ 63 $ 48,847 $ 11,001 Assets derivatives -Foreign exchange contracts, designated as cash flow hedging Other current assets 220 315 25,635 25,045 Liability derivatives -Foreign exchange contracts, not designated as hedging instruments Accrued expenses and other current liabilities (534 ) (388 ) 30,605 92,929 Liability derivatives -Foreign exchange contracts, designated as hedging instruments Accrued expenses and other current liabilities (552 ) (326 ) 18,500 45,262 $ (766 ) $ (336 ) $ 123,587 $ 174,237

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Schedule of share-based compensation expense	Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 U.S $ in thousands U.S $ in thousands Cost of sales $ 524 $ 475 $ 1,424 $ 1,370 Research and development, net 1,587 1,494 4,846 3,764 Selling, general and administrative 2,765 3,466 9,624 10,623 Total stock-based compensation expenses $ 4,876 $ 5,435 $ 15,894 $ 15,757
Schedule of stock option activity	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 (145,504 ) 38.71 Options outstanding as of September 30, 2020 2,173,791 28.34 Options exercisable as of September 30, 2020 1,739,420 $ 31.03
Schedule of RSUs and PSUs activity	Number of RSUs and PSUs Weighted Average Grant Date Fair Value Unvested as of January 1, 2020 2,362,991 $ 24.10 Granted 1,425,536 17.80 Vested (669,477 ) 23.21 Forfeited (445,400 ) 21.97 Unvested as of September 30, 2020 2,673,650 $ 21.32
Schedule of accumulated other comprehensive income (loss)	Nine Months Ended September 30, 2020 Net Unrealized 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 loss before reclassifications (299 ) (611 ) (910 ) Amounts reclassified from accumulated other comprehensive loss (663 ) - (663 ) Other comprehensive loss (962 ) (611 ) (1,573 ) Balance as of September 30, 2020 $ (972 ) $ (8,317 ) $ (9,289 ) Nine Months Ended September 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 1,689 (1,398 ) 291 Amounts reclassified from accumulated other comprehensive loss (505 ) - (505 ) Other comprehensive income (loss) 1,184 (1,398 ) (214 ) Balance as of September 30, 2019 $ 557 $ (8,524 ) $ (7,967 )

Business Description and Basi_2

Business Description and Basis of Presentation (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Accounting Policies [Abstract]
Amount of goodwill impairment charges	$ 386.2

Revenues (Details)

Revenues (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019
Revenue Recognition [Abstract]
Long term deferred revenue	$ 13.4	$ 13.4	$ 16
Revenue recognized	10.5	42.1
Remaining performance obligations	82.1	82.1
Expected remaining performance obligations recognized during next 12 months	68.3	68.3
Expected remaining performance obligations recognized over subsequent 12 months	9.2	9.2
Expected remaining performance obligations recognized remainder thereafter	4.6	4.6
Deferred sales commissions	$ 4.4	$ 4.4	$ 3.9

Revenues (Details) - Schedule o

Revenues (Details) - Schedule of disaggregation of revenues - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	$ 127,892	$ 157,460	$ 378,422	$ 475,923
Americas [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	86,597	106,904	251,871	311,428
EMEA [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	23,248	28,933	71,083	93,866
Asia Pacific [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	18,047	21,623	55,468	70,629
Product [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	83,548	106,346	240,597	321,778
Product [Member] | Americas [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	52,827	67,088	145,871	192,279
Product [Member] | EMEA [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	17,245	22,710	53,735	74,119
Product [Member] | Asia Pacific [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	13,476	16,548	40,991	55,380
Service [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	44,344	51,114	137,825	154,145
Service [Member] | Americas [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	33,770	39,816	106,000	119,149
Service [Member] | EMEA [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	6,003	6,223	17,348	19,747
Service [Member] | Asia Pacific [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	$ 4,571	$ 5,075	$ 14,477	$ 15,249

Revenues (Details) - Schedule_2

Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	$ 127,892	$ 157,460	$ 378,422	$ 475,923
Products [Member]
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	83,548	106,346	240,597	321,778
Services [Member]
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	44,344	51,114	137,825	154,145
Revenues recognized in point in time [Member]
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	93,935	117,503	270,406	354,309
Revenues recognized in point in time [Member] | Products [Member]
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	83,548	106,346	240,597	321,778
Revenues recognized in point in time [Member] | Services [Member]
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	10,387	11,157	29,809	32,531
Revenues recognized over time [Member]
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	33,957	39,957	108,016	121,614
Revenues recognized over time [Member] | Services [Member]
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	$ 33,957	$ 39,957	$ 108,016	$ 121,614

Revenues (Details) - Schedule_3

Revenues (Details) - Schedule of changes in deferred revenue - USD ($) $ in Thousands		Sep. 30, 2020	Dec. 31, 2019
Schedule of changes in deferred revenue [Abstract]
Deferred revenues	[1]	$ 60,724	$ 68,307
[1]	Includes $13.4 million and $16.0 million under long term deferred revenue in the Company's consolidated balance sheets as of September 30, 2020 and December 31, 2019, respectively.

Inventories (Details) - Schedul

Inventories (Details) - Schedule of Inventories - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Schedule of Inventories [Abstract]
Finished goods	$ 72,373	$ 87,967
Work-in-process	2,838	3,106
Raw materials	77,474	77,431
Total Inventory	$ 152,685	$ 168,504

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 02, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Goodwill and Other Intangible Assets (Details) [Line Items]
Goodwill				$ 385,658
Percentage of employee reduced	10.00%
Goodwill, Impairment Loss		386,154				386,154
Impairment charges		5,300
Amortization of intangible assets		$ 6,200			$ 6,500	$ 18,600	$ 18,600
Stratasys-Objet reporting unit [Member]
Goodwill and Other Intangible Assets (Details) [Line Items]
Percentage of fair value exceeding carrying value of reporting units				8.70%
Goodwill				$ 386,000
Expected cash flow period				5 years
Growth rate		2.50%		3.10%
Discount rate		13.50%		13.50%
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
Percentage of employee reduced			10.00%
Regain the loss of revenue		2 years
Goodwill, Impairment Loss		$ 386,200
Developed Technology Intangible Assets [Member]
Goodwill and Other Intangible Assets (Details) [Line Items]
Impairment charges		$ 5,300

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Details) - Schedule of changes in the carrying amount of goodwill - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Schedule of changes in the carrying amount of goodwill [Abstract]
Goodwill		$ 385,658
Foreign currency translation adjustments		496
Goodwill impairment	$ (386,154)	(386,154)
Goodwill

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	$ 449,863	$ 461,799
Accumulated Amortization	(384,780)	(374,471)
Net Book Value	65,083	87,328
Developed technology [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	286,888	299,100
Accumulated Amortization	(256,861)	(252,136)
Net Book Value	30,027	46,964
Patents [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	16,722	15,142
Accumulated Amortization	(8,145)	(7,067)
Net Book Value	8,577	8,075
Trademarks and trade names [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	26,019	25,991
Accumulated Amortization	(20,829)	(19,966)
Net Book Value	5,190	6,025
Customer Relationships [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	101,745	102,936
Accumulated Amortization	(80,456)	(76,813)
Net Book Value	21,289	26,123
Computer Software, Intangible Asset [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	18,489	18,630
Accumulated Amortization	(18,489)	(18,489)
Net Book Value		$ 141

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets (Details) - Schedule of estimated amortization expense relating to intangible assets $ in Thousands	Sep. 30, 2020USD ($)
Schedule of estimated amortization expense relating to intangible assets [Abstract]
Remaining 3 months of 2020	$ 6,019
2021	23,857
2022	21,884
2023	7,315
Thereafter	6,008
Total	$ 65,083

Loss Per Share (Details)

Loss Per Share (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of net loss per share	4.8	4.5	4.8	4.5

Loss Per Share (Details) - Sche

Loss Per Share (Details) - Schedule of Basic and Diluted Loss Per Share - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerator:
Net loss attributable to Stratasys Ltd. for basic and diluted loss per share (in Dollars)	$ (405,062)	$ (6,941)	$ (454,751)	$ (8,059)
Denominator:
Weighted average shares - denominator for basic and diluted net loss per share (in Shares)	55,086	54,394	54,851	54,201
Net loss per share attributable to Stratasys Ltd.
Basic	$ (7.35)	$ (0.13)	$ (8.29)	$ (0.15)
Diluted	$ (7.35)	$ (0.13)	$ (8.29)	$ (0.15)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income tax expense (benefits)	$ (343)	$ 586	$ (2,250)	$ 3,084

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Schedule of assets and liabilities carried at fair value on a recurring basis - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Assets:
Foreign exchange forward contracts not designated as hedging instruments	$ 100	$ 63
Foreign exchange forward contracts designated as hedging instruments	220	315
Liabilities:
Foreign exchange forward contracts not designated as hedging instruments	(534)	(388)
Foreign exchange forward contracts designated as hedging instruments	(552)	(326)
Foreign exchange forward contracts fair value	$ (766)	$ (336)

Derivative instruments and he_3

Derivative instruments and hedging activities (Details) $ in Thousands, € in Millions, ₪ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020ILS (₪)	Sep. 30, 2020EUR (€)	Dec. 31, 2019USD ($)
Derivative instruments and hedging activities (Details) [Line Items]
Notional amount of derivative asset	$ 79,500		$ 79,500
Gain (Loss) on derivative instrument	3,200	$ 3,200	2,400	$ 4,500
Designated as Hedging Instrument [Member] | Other Current Assets [Member] | Foreign Exchange Contract [Member]
Derivative instruments and hedging activities (Details) [Line Items]
Notional amount of derivative asset	$ 25,635		$ 25,635				$ 25,045
Designated as Hedging Instrument [Member] | Other Current Assets [Member] | Conversion To NIS [Member] | Foreign Exchange Contract [Member]
Derivative instruments and hedging activities (Details) [Line Items]
Notional amount of derivative asset | ₪					₪ 23.5
Designated as Hedging Instrument [Member] | Other Current Assets [Member] | Conversion To Euro [Member] | Foreign Exchange Contract [Member]
Derivative instruments and hedging activities (Details) [Line Items]
Notional amount of derivative asset | €						€ 18

Derivative instruments and he_4

Derivative instruments and hedging activities (Details) - Schedule of balance sheet classification and fair values of derivative instruments - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Notional amount of derivative asset	$ 79,500
Fair value	(766)	$ (336)
Notional amount	123,587	174,237
Not designated as hedging instruments [Member] | Other current assets [Member] | Foreign exchange contracts [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative asset	100	63
Notional amount of derivative asset	48,847	11,001
Not designated as hedging instruments [Member] | Accrued expenses and other current liabilities [Member] | Foreign exchange contracts [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative liability	(534)	(388)
Notional amount of derivative liability	30,605	92,929
Designated as hedging instruments [Member] | Other current assets [Member] | Foreign exchange contracts [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative asset	220	315
Notional amount of derivative asset	25,635	25,045
Designated as hedging instruments [Member] | Accrued expenses and other current liabilities [Member] | Foreign exchange contracts [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative liability	(552)	(326)
Notional amount of derivative liability	$ 18,500	$ 45,262

Equity (Details)

Equity (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Stock option [Member]
Equity (Details) [Line Items]
Unrecognized compensation cost	$ 2.1
Weighted-average period	3 years 2 months 12 days
RSU's and PSU's [Member]
Equity (Details) [Line Items]
Unrecognized compensation cost	$ 45.1
Weighted-average period	2 years 8 months 12 days

Equity (Details) - Schedule of

Equity (Details) - Schedule of share-based compensation expense - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	$ 4,876	$ 5,435	$ 15,894	$ 15,757
Cost of Sales [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	524	475	1,424	1,370
Research and development, net [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	1,587	1,494	4,846	3,764
Selling, general and administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	$ 2,765	$ 3,466	$ 9,624	$ 10,623

Equity (Details) - Schedule o_2

Equity (Details) - Schedule of stock option activity shares in Thousands	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Stockholders' Equity Note [Abstract]
Number of Options, Options outstanding | shares	1,961,532
Weighted Average Exercise Price, Options outstanding | $ / shares	$ 31.16
Number of Options, Granted | shares	360,000
Weighted Average Exercise Price, Granted | $ / shares	$ 17.10
Number of Options, Exercised | shares	(2,237)
Weighted Average Exercise Price, Exercised | $ / shares	$ 8.09
Number of Options, Forfeited | shares	(145,504)
Weighted Average Exercise Price, Forfeited | $ / shares	$ 38.71
Number of Options, Options outstanding | shares	2,173,791
Weighted Average Exercise Price, Options outstanding | $ / shares	$ 28.34
Number of Options, Options exercisable | shares	1,739,420
Weighted Average Exercise Price, Options exercisable | $ / shares	$ 31.03

Equity (Details) - Schedule o_3

Equity (Details) - Schedule of RSUs and PSUs activity - Restricted and Phantom Share Units [Member] shares in Thousands	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Equity (Details) - Schedule of RSUs and PSUs activity [Line Items]
Number of RSUs and PSUs, Unvested | shares	2,362,991
Weighted Average Grant Date Fair Value, Unvested | $ / shares	$ 24.10
Number of RSUs and PSUs, Granted | shares	1,425,536
Weighted Average Grant Date Fair Value, Granted | $ / shares	$ 17.80
Number of RSUs and PSUs, Vested | shares	(669,477)
Weighted Average Grant Date Fair Value, Vested | $ / shares	$ 23.21
Number of RSUs and PSUs, Forfeited | shares	(445,400)
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	$ 21.97
Number of RSUs and PSUs, Unvested | shares	2,673,650
Weighted Average Grant Date Fair Value, Unvested | $ / shares	$ 21.32

Equity (Details) - Schedule o_4

Equity (Details) - Schedule of accumulated other comprehensive income (loss) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ (7,716)	$ (7,753)
Other comprehensive income (loss) before reclassifications	(910)	291
Amounts reclassified from accumulated other comprehensive loss	(663)	(505)
Other comprehensive income (loss)	(1,573)	(214)
Balance	(9,289)	(7,967)
Net Unrealized Gain (Loss) on Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(10)	(627)
Other comprehensive income (loss) before reclassifications	(299)	1,689
Amounts reclassified from accumulated other comprehensive loss	(663)	(505)
Other comprehensive income (loss)	(962)	1,184
Balance	(972)	557
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(7,706)	(7,126)
Other comprehensive income (loss) before reclassifications	(611)	(1,398)
Amounts reclassified from accumulated other comprehensive loss
Other comprehensive income (loss)	(611)	(1,398)
Balance	$ (8,317)	$ (8,524)

Restructuring Plan (Details)

Restructuring Plan (Details) - USD ($) $ in Millions	Jun. 02, 2020	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2020
Restructuring Plan (Details) [Line Items]
Percentage of workforce reduction of employees	10.00%
Restructuring charges paid				$ 4.5
Employee Related Charges [Member]
Restructuring Plan (Details) [Line Items]
Restructuring charges		$ 0.3	$ 5.2
Other Related Charges [Member]
Restructuring Plan (Details) [Line Items]
Restructuring charges			$ 3.6