Stratasys (SSYS) 6-K 5 May 21 2021 Q1 Condensed Consolidated Interim Financial Statements Financial data

Document And Entity Information

Document And Entity Information	3 Months Ended
	Mar. 31, 2021
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	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
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	Mar. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 421,398	$ 272,092
Short-term Deposits	109,000	27,000
Accounts receivable, net of allowance for credit losses of $0.9 million as of March 31, 2021 and December 31, 2020	102,780	106,068
Inventories	124,199	131,672
Prepaid expenses	10,345	6,717
Other current assets	16,745	16,943
Total current assets	784,467	560,492
Non-current assets
Property, plant and equipment, net	199,382	201,232
Goodwill	38,074	35,694
Other intangible assets, net	131,619	131,569
Operating lease right-of-use assets	19,089	21,298
Other non-current assets	43,299	39,717
Total non-current assets	431,463	429,510
Total assets	1,215,930	990,002
Current liabilities
Accounts payable	28,062	16,987
Accrued expenses and other current liabilities	29,283	31,061
Accrued compensation and related benefits	30,937	25,659
Deferred revenues - short term	49,413	49,165
Operating lease liabilities - short term	8,941	9,282
Total current liabilities	146,636	132,154
Non-current liabilities
Deferred revenues - long term	14,074	14,227
Operating lease liabilities - long term	10,501	12,567
Contingent consideration	40,234	37,400
Other non-current liabilities	32,470	34,059
Total non-current liabilities	97,279	98,253
Total liabilities	243,915	230,407
Contingencies (see note 12)
Redeemable non-controlling interests	227	227
Equity
Ordinary shares, NIS 0.01 nominal value, authorized 180,000 thousand shares; 65,218 thousand shares and 56,617 thousand shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	181	155
Additional paid-in capital	2,984,048	2,753,955
Accumulated other comprehensive loss	(7,634)	(8,846)
Accumulated deficit	(2,004,807)	(1,985,896)
Total equity	971,788	759,368
Total liabilities and equity	$ 1,215,930	$ 990,002

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parentheticals) shares in Thousands, $ in Thousands	Mar. 31, 2021USD ($)shares	Mar. 31, 2021₪ / shares	Dec. 31, 2020USD ($)shares	Dec. 31, 2020₪ / shares
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance for credit losses (in Dollars) | $	$ 900		$ 900
Ordinary shares, par value (in New Shekels per share) | ₪ / shares		₪ 0.01		₪ 0.01
Ordinary shares, authorized	180,000		180,000
Ordinary shares, issued	65,218		65,218
Ordinary shares, outstanding	65,218		65,218

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues
Revenues	$ 134,189	$ 132,907
Cost of revenues
Cost of revenues	78,612	73,037
Gross profit	55,577	59,870
Operating expenses
Research and development, net	20,601	24,194
Selling, general and administrative	53,334	55,576
Total operating expenses	73,935	79,770
Operating loss	(18,358)	(19,900)
Financial expenses, net	(377)	(829)
Loss before income taxes	(18,735)	(20,729)
Income tax expenses (benefit)	(942)	221
Share in losses of associated companies	(1,118)	(838)
Net loss	(18,911)	(21,788)
Net loss attributable to non-controlling interests		(85)
Net loss attributable to Stratasys Ltd.	$ (18,911)	$ (21,703)
Net loss per ordinary share attributable to Stratasys Ltd. - basic and diluted (in Dollars per share)	$ (0.32)	$ (0.40)
Weighted average ordinary shares outstanding. - basic and diluted (in Shares)	58,616	54,544
Comprehensive loss
Net loss	$ (18,911)	$ (21,788)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(961)	(1,954)
Unrealized gains (losses) on derivatives designated as cash flow hedges	2,173	822
Other comprehensive income (loss), net of tax	1,212	(1,132)
Comprehensive loss	(17,699)	(22,920)
Less: comprehensive loss attributable to non-controlling interests		(85)
Comprehensive loss attributable to Stratasys Ltd.	(17,699)	(22,835)
Products
Revenues
Revenues	90,324	83,172
Cost of revenues
Cost of revenues	46,920	39,248
Services
Revenues
Revenues	43,865	49,735
Cost of revenues
Cost of revenues	$ 31,692	$ 33,789

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, 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
Balance at Dec. 31, 2020	$ 155	2,753,955	(1,985,896)	(8,846)	759,368
Balance (in Shares) at Dec. 31, 2020	56,617
Issuance of shares in connection with stock-based compensation plans	$ 2	2,881			2,883
Issuance of shares in connection with stock-based compensation plans (in Shares)	670
Stock-based compensation		7,205			7,205
Public offering of ordinary shares, net	$ 24	218,851			218,875
Public offering of ordinary shares, net (in Shares)	7,931
Deferred tax assets in connection with public offering expenses		1,156			1,156
Comprehensive income (loss)			(18,911)	1,212	(17,699)
Balance at Mar. 31, 2021	$ 181	$ 2,984,048	$ (2,004,807)	$ (7,634)	$ 971,788
Balance (in Shares) at Mar. 31, 2021	65,218

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities
Net loss	$ (18,911)	$ (21,788)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	13,802	12,457
Stock-based compensation	7,205	4,907
Foreign currency transaction loss	4,181	3,428
Deferred income taxes	(1,774)	(409)
Share in losses of associated companies	1,118	838
Revaluation of investments	(3,670)
Other non-cash items, net	193	201
Change in cash attributable to changes in operating assets and liabilities:
Accounts receivable, net	2,620	16,541
Inventories	7,046	(5,659)
Other current assets and prepaid expenses	(3,775)	3,519
Other non-current assets	1,595	902
Accounts payable	10,197	(3,086)
Other current liabilities	6,453	9,047
Deferred revenues	(433)	(2,154)
Other non-current liabilities	(3,096)	(7,470)
Net cash provided by operating activities	22,751	11,274
Cash flows from investing activities
Cash paid for acquisitions, net of cash acquired	(6,356)
Purchase of property and equipment	(4,012)	(6,291)
Investments in short-term bank deposits	(109,000)
Proceeds from short-term bank deposits	27,000
Net proceeds from divestitures of subsidiaries and associated companies		1,000
Purchase of intangible assets	(278)	(413)
Other investing activities	(98)	206
Net cash used in investing activities	(92,744)	(5,498)
Cash flows from financing activities
Proceeds from public offering, net of issuance costs	218,875
Proceeds from exercise of stock options	2,883	30
Other financing activities	407
Net cash provided by financing activities	222,165	30
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(2,872)	(2,116)
Net change in cash, cash equivalents and restricted cash	149,300	3,690
Cash, cash equivalents and restricted cash, beginning of period	272,216	293,597
Cash, cash equivalents and restricted cash, end of period	421,516	297,287
Supplemental disclosures of cash flow information:
Transfer of inventory to fixed assets	884	832
Transfer of fixed assets to inventory	$ 210	$ 5

Business Description and Basis

Business Description and Basis of Presentation	3 Months Ended
	Mar. 31, 2021
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” or “Stratasys”) is a global leader in connected, polymer-based 3D printing solutions, across the entire manufacturing value chain. The Company leverages its competitive advantages, which include a broad set of best-in-class 3D printing platforms, software, a materials and technology partner ecosystem, innovative leadership, and global GTM infrastructure, in order to position itself to capture share in a significant and growing global marketplace, with a focus on manufacturing. 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 COVID-19 pandemic. The severity, magnitude and duration of, and recovery from, as well as the economic consequences of, the COVID-19 pandemic, remain 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 have an additional impact on the Company’s 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 months ended March 31, 2021 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, 2020, 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 March 1, 2021.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements	Note 2. New Accounting Pronouncements Accounting Pronouncements Adopted in 2021 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 adopted this guidance effective January 1, 2021, with no material impact on its consolidated financial statements.

Certain Transactions

Certain Transactions	3 Months Ended
	Mar. 31, 2021
Certain Transactions [Abstract]
Certain Transactions	Note 3. Certain Transactions Origin acquisition On December 31, 2020 (the “Origin transaction date”) the Company acquired 3D printing start-up Origin Laboratories Inc. (“Origin”) for an aggregate purchase price of $97.1 million (the “Origin transaction”), including cash and shares. The acquisition enables Stratasys to expand its leadership through innovation in the fast-growing mass production parts market with a next-generation photopolymer platform. Stratasys expects Origin’s proprietary Programmable PhotoPolymerization (P3) technology to be an important growth engine for the Company. The acquisition was aimed at fortifying the Company's leadership in polymers and production applications of 3D printing in industries such as dental, medical, tooling, and select industrial, defense, and consumer goods markets. In exchange for 100% of the outstanding shares of Origin the Company issued 1,488 thousand ordinary shares, paid cash upon closing, and is obligated to pay additional payments (combination of cash and shares) subject to performance-based earn-outs over 3 years. The Origin transaction is reflected in accordance with ASC Topic 805, “Business Combinations”, using the acquisition method of accounting with the Company as the acquirer. The following table summarizes the fair value of the consideration transferred to Origin stockholders for the Origin transaction: U.S. $ in thousands Cash payments $ 33,025 Issuance of ordinary shares to Origin stockholders 26,636 Contingent consideration at estimated fair value 37,400 Total consideration $ 97,061 The fair value of the ordinary shares issued was determined based on the closing market price of the Company’s ordinary shares on the Origin transaction date. In accordance with ASC Topic 805, the estimated contingent consideration as of the Origin transaction date was included in the purchase price. The total contingent payments could reach to a maximum aggregate amount of up to $40 million. Approximately 50% of the payments shall be settled in cash, and 50% shall be settled through the issuance of ordinary shares. The estimated fair value of the contingent consideration is based on management’s assessment of whether, and at what level, the financial metrics will be achieved, and the present value factors associated with the timing of the payments. This fair value measurement is based on significant unobservable inputs in the market and thus represents a Level 3 measurement within the fair value hierarchy. Changes in the fair value of contingent consideration will be recorded in Consolidated Statements of Operations and Comprehensive Loss. Refer to note 9. An additional payment of $6 million, which is subject to the founders' retention over 3 years, will be recorded as compensation expense over the retention period. Compensation expenses for the three-month period ended March 31, 2021 were approximately $ The following table summarizes the estimated fair values of the assets acquired and liabilities assumed, based on the information that is available Allocation of Purchase Price (U.S. $ in thousands) Cash and cash equivalents $ 2,083 Goodwill 36,379 Intangible assets 71,125 Other assets 4,364 Total assets acquired 113,951 Net deferred tax liabilities 14,007 Other labilities 2,883 Total liabilities assumed 16,890 Net assets acquired $ 97,061 The allocation of the purchase price to net assets acquired and liability assumed resulted in the recognition of an intangible asset related to developed technology of $71 million. This intangible asset has a useful-life of 10 years. The fair value estimate of the developed technology is determined using a variation of the income approach known as the “Multi-Period Excess Earnings Approach”. This valuation technique estimates the fair value of an asset based on market participants’ expectations of the cash flows an asset would generate over its remaining useful life. The net cash flows were discounted to present value. Pro forma information giving effect to the acquisition has not been provided as the impact of the transaction for purposes of Stratasys' consolidation results of operations and financial condition would not be material. RPS acquisition On February 16, 2021 the Company acquired RP Support Lim ited (“RPS”), a provider of industrial stereolithography 3D printers and solutions. In exchange for 100% of the outstanding shares of RPS, the Company paid cash upon closing and is obligated to make additional payments (in cash), subject to performance-based criteria, via earn-out payments over two years. M arketable equity investment The Company recognized in the first quarter of 2021 an income of $3.7 million for revaluation of an equity investment. In prior periods the investment was treated as a non-marketable equity investment without readily determinable FV. The entity has become public during the first quarter and accordingly the investment is now treated as a marketable equity investment.

Revenues

Revenues	3 Months Ended
	Mar. 31, 2021
Revenue Recognition [Abstract]
Revenues	Note 4. 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 months ended March 31, 2021 and 2020: Three months ended March 31, 2021 2020 (U.S. $ in thousands) Americas Products $ 49,568 $ 48,244 Service 32,545 38,329 Total Americas 82,113 86,573 EMEA Products 22,501 20,747 Service 6,417 6,173 Total EMEA 28,918 26,920 Asia Pacific Products 18,255 14,181 Service 4,903 5,233 Total Asia Pacific 23,158 19,414 Total Revenues $ 134,189 $ 132,907 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 months ended March 31, 2021 and 2020: Three months ended March 31, 2021 2020 (U.S. $ in thousands) Revenues recognized in point in time from: Products $ 90,324 $ 83,172 Services 10,601 10,644 Total revenues recognized in point in time 100,925 93,816 Revenues recognized over time from: Services 33,264 39,091 Total revenues recognized over time 33,264 39,091 Total Revenues $ 134,189 $ 132,907 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 March 31, 2021 and December 31, 2020. 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 March 31, 2021 and December 31, 2020 were as follows: March 31, December 31, 2021 2020 U.S. $ in thousands Deferred revenue* 63,487 63,392 *Includes $14.1 million and $14.2 million under long term deferred revenue in the Company's consolidated balance sheets as of March 31, 2021 and December 31, 2020, respectively. Revenue recognized in 2021 that was included in deferred revenue balance as of December 31, 2020 was $18 .4 Remaining Performance Obligations Remaining Performance Obligations ( “ “ 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 March 31, 2021 and December 31, 2020, the deferred commissions amounted to $5.3 million and $5.0 million, respectively.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2021
Inventory Disclosure [Abstract]
Inventories	Note 5. Inventories Inventories consisted of the following: March 31, December 31, 2021 2020 U.S. $ in thousands Finished goods $ 52,845 $ 61,297 Work-in-process 3,739 3,163 Raw materials 67,615 67,212 $ 124,199 $ 131,672

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Note 6. Goodwill and Other Intangible Assets Goodwill Changes in the carrying amount of the Company’s goodwill for the three months ended March 31, 2021 were as follows: U.S. $ in thousands Goodwill as of January 1, 2021 $ 35,694 Goodwill acquired* 1,716 Foreign currency translation adjustments and other 664 Goodwill as of March 31, 2021 $ 38,074 *The goodwill was acquired as part of RPS acquisition. See Note 3. During the third quarter of 2020, the Company had 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%, which is 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 had 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: March 31, 2021 December 31, 2020 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 $ 365,207 $ (265,352 ) $ 99,855 $ 357,863 $ (260,123 ) $ 97,740 Patents 17,894 (8,812 ) 9,082 17,699 (8,487 ) 9,212 Trademarks and trade names 26,031 (21,397 ) 4,634 26,036 (21,114 ) 4,922 Customer relationships 100,883 (82,835 ) 18,048 101,107 (81,413 ) 19,695 Capitalized software development costs 7,410 (7,410 ) - 7,410 (7,410 ) - $ 517,425 $ (385,806 ) $ 131,619 $ 510,115 $ (378,547 ) $ 131,569 Amortization expenses relating to intangible assets for the three-month period ended March 31, 2021 and 2020 were approximately $7.5 million and $6.2 million, respectively. As of March 31, 2021, the estimated amortization expenses relating to intangible assets for each of the following future periods were as follows: Estimated amortization expense (U.S. $ in thousands) Remaining 9 months of 2021 $ 22,840 2022 28,662 2023 14,081 2024 10,185 2025 and thereafter 55,851 Total 131,619

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Net Loss Per Share	Note 7. Net Loss Per Share The following table presents the numerator and denominator of the basic and diluted net loss per share computations for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 2020 In thousands, except per share amounts Numerator: Net loss attributable to Stratasys Ltd. for basic and diluted loss per share (18,911 ) (21,703 ) Denominator: Weighted average shares - for basic and diluted net loss per share 58,616 54,544 Net loss per share attributable to Stratasys Ltd. Basic and diluted $ (0.32 ) $ (0.40 ) The computation of diluted net loss per share excluded share awards of 5.4 million shares and 5.3 million shares for the three months ended March 31, 2021 and 2020, respectively, because their inclusion would have had an anti-dilutive effect on the diluted net loss per share.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 8. Income Taxes The Company had income tax benefit of $0.9 million for the three-month period ended March 31, 2021 compared to income tax expenses of $0.2 million for the three-month period ended March 31, 2020. The Company’s effective tax rate as of March 31, 2021 was primarily impacted by the geographic mix of its earnings and losses, as well as a valuation allowance on losses of the Company's US subsidiaries.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 9. 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: March 31, 2021 December 31, 2020 Level 2 Level 3 Level 2 Level 3 (U.S. $ in thousands) Assets: Foreign exchange forward contracts not designated as hedging instruments $ 41 - $ 56 - Foreign exchange forward contracts designated as hedging instruments 754 - 793 - Liabilities: Foreign exchange forward contracts not designated as hedging instruments (252 ) - (1,098 ) - Foreign exchange forward contracts designated as hedging instruments (140 ) - (1,584 ) - Contingent consideration - 40,234 - 37,400 $ 403 $ 40,234 $ (1,833 ) $ 37,400 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). Contingent consideration represents liabilities recorded at fair value in connection with acquisitions, and thus represents a Level 3 measurement within the fair value hierarchy (refer to Note 3). Other financial instruments consist mainly of cash and cash equivalents, short-term deposits, current and non-current receivables, 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	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative instruments and hedging activities	Note 10. 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, GBP, 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 December 2021. The following table summarizes the consolidated balance sheets classification and fair values of the Company’s derivative instruments: Fair Value Notional Amount March 31, December 31, March 31, December 31, Balance sheet location 2021 2020 2021 2020 U.S. $ in thousands Assets derivatives -Foreign exchange contracts, not designated as hedging instruments Other current assets $ 41 $ 56 $ 10,981 $ 36,882 Assets derivatives -Foreign exchange contracts, designated as cash flow hedge Other current assets 754 793 50,316 10,417 Liability derivatives -Foreign exchange contracts, not designated as hedging instruments Accrued expenses and other current liabilities (252 ) (1,098 ) 44,078 37,999 Liability derivatives -Foreign exchange contracts, designated as hedging instruments Accrued expenses and other current liabilities (140 ) (1,584 ) 18,473 50,186 $ 403 $ (1,833 ) $ 123,848 $ 135,484 Foreign exchange contracts not designated as hedging instruments As of March 31, 2021, the notional amounts of the Company’s outstanding exchange forward contracts, not designated as hedging instruments, were $55.1 million, and were used to reduce foreign currency exposures. With respect to such derivatives, gains of $2.2 million and of $1.5 million Cash Flow Hedging - Hedges of forecasted foreign currency payroll and other operating expenses As of March 31, 2021, the Company had in effect foreign exchange forward contracts, designated as cash flow hedges for accounting purposes, for the conversion of $29.3 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 and other operating expenses 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 March 31, 2021, the Company had in effect foreign exchange forward contracts, designated as cash flow hedges for accounting purposes, for the conversion of 33.0 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	3 Months Ended
	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
Equity	Note 11. Equity a. Stock-based compensation plans Stock-based compensation expenses for equity-classified stock options, restricted share units (“RSUs”) and performance-based restricted share units ( ” ” Three Months Ended March 31, 2021 2020 U.S $ in thousands Cost of sales $ 634 $ 402 Research and development, net 1,424 1,556 Selling, general and administrative 5,147 2,949 Total stock-based compensation expenses $ 7,205 $ 4,907 A summary of the Company’s stock option activity for the three months ended March 31, 2021 is as follows: Number of Options Weighted Average Exercise Price Options outstanding as of January 1, 2021 $ 2,102,529 $ 28.06 Granted 46,366 3.15 Exercised (137,220 ) 21.01 Forfeited (13,439 ) 36.26 Options outstanding as of March 31, 2021 1,998,236 27.91 Options exercisable as of March 31, 2021 $ 1,619,049 $ 30.82 As of March 31, 2021, the unrecognized compensation cost of $3.4 million related to all unvested, equity-classified stock options is expected to be recognized as an expense over a weighted-average period of 3.3 years. A summary of the Company’s RSUs and PSUs activity for the three months ended March 31, 2021 is as follows: Number of RSUs and PSUs Weighted Average Grant Date Fair Value Unvested as of January 1, 2021 $ 2,801,116 $ 21.08 Granted 1,201,186 34.62 Vested (533,533 ) 22.56 Forfeited (110,731 ) 20.69 Unvested as of March 31, 2021 $ 3,358,038 $ 25.70 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 March 31, 2021, the unrecognized compensation cost of $76 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 three months ended March 31, 2021 and 2020, respectively: Three Months Ended March 31, 2021 Net Unrealized Gain (Loss) on Cash Flow Hedges Foreign Currency Translation Adjustments Total U.S. $ in thousands Balance as of January 1, 2021 $ (1,673 ) $ (7,173 ) $ (8,846 ) Other comprehensive income (loss) before reclassifications 1,607 (961 ) 646 Amounts reclassified from accumulated other comprehensive loss 566 - 566 Other comprehensive income (loss) 2,173 (961 ) 1,212 Balance as of March 31, 2020 $ 500 $ (8,134 ) $ (7,634 ) Three Months Ended March 31, 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 849 (1,954 ) (1,105 ) Amounts reclassified from accumulated other comprehensive loss (27 ) - (27 ) Other comprehensive income (loss) 822 (1,954 ) (1,132 ) Balance as of March 31, 2020 $ 812 $ (9,660 ) $ (8,848 ) c. Public offering of ordinary shares During March 2021, the Company completed a capital raise of $218.9 million, net of underwriting discounts and offering expenses. The total number of shares sold by the Company in the public offering was 7,931,034. A deferred tax asset in an amount of $1.2 million was recorded in respect of a tax benefit, arising from the underwriting discounts and offering expenses, as an increase to Additional Paid-In Capital.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2021
Loss Contingency [Abstract]
Contingencies	Note 12. 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.

Certain Transactions (Tables)

Certain Transactions (Tables)	3 Months Ended
	Mar. 31, 2021
Certain Transactions [Abstract]
Schedule of fair value of the consideration transferred to Origin stockholders for the Origin transaction	U.S. $ in thousands Cash payments $ 33,025 Issuance of ordinary shares to Origin stockholders 26,636 Contingent consideration at estimated fair value 37,400 Total consideration $ 97,061
Schedule of preliminary allocation of the purchase price to assets acquired and liabilities	Allocation of Purchase Price (U.S. $ in thousands) Cash and cash equivalents $ 2,083 Goodwill 36,379 Intangible assets 71,125 Other assets 4,364 Total assets acquired 113,951 Net deferred tax liabilities 14,007 Other labilities 2,883 Total liabilities assumed 16,890 Net assets acquired $ 97,061

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Schedule of disaggregation of revenues	Three months ended March 31, 2021 2020 (U.S. $ in thousands) Americas Products $ 49,568 $ 48,244 Service 32,545 38,329 Total Americas 82,113 86,573 EMEA Products 22,501 20,747 Service 6,417 6,173 Total EMEA 28,918 26,920 Asia Pacific Products 18,255 14,181 Service 4,903 5,233 Total Asia Pacific 23,158 19,414 Total Revenues $ 134,189 $ 132,907
Schedule of disaggregated based on the timing of revenue recognition	Three months ended March 31, 2021 2020 (U.S. $ in thousands) Revenues recognized in point in time from: Products $ 90,324 $ 83,172 Services 10,601 10,644 Total revenues recognized in point in time 100,925 93,816 Revenues recognized over time from: Services 33,264 39,091 Total revenues recognized over time 33,264 39,091 Total Revenues $ 134,189 $ 132,907
Schedule of changes in deferred revenue	March 31, December 31, 2021 2020 U.S. $ in thousands Deferred revenue* 63,487 63,392 *Includes $14.1 million and $14.2 million under long term deferred revenue in the Company's consolidated balance sheets as of March 31, 2021 and December 31, 2020, respectively.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2021
Inventory Disclosure [Abstract]
Schedule of Inventories	March 31, December 31, 2021 2020 U.S. $ in thousands Finished goods $ 52,845 $ 61,297 Work-in-process 3,739 3,163 Raw materials 67,615 67,212 $ 124,199 $ 131,672

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying amount of goodwill	U.S. $ in thousands Goodwill as of January 1, 2021 $ 35,694 Goodwill acquired* 1,716 Foreign currency translation adjustments and other 664 Goodwill as of March 31, 2021 $ 38,074 *The goodwill was acquired as part of RPS acquisition. See Note 3.
Schedule of other intangible assets	March 31, 2021 December 31, 2020 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 $ 365,207 $ (265,352 ) $ 99,855 $ 357,863 $ (260,123 ) $ 97,740 Patents 17,894 (8,812 ) 9,082 17,699 (8,487 ) 9,212 Trademarks and trade names 26,031 (21,397 ) 4,634 26,036 (21,114 ) 4,922 Customer relationships 100,883 (82,835 ) 18,048 101,107 (81,413 ) 19,695 Capitalized software development costs 7,410 (7,410 ) - 7,410 (7,410 ) - $ 517,425 $ (385,806 ) $ 131,619 $ 510,115 $ (378,547 ) $ 131,569
Schedule of estimated amortization expense relating to intangible assets	Estimated amortization expense (U.S. $ in thousands) Remaining 9 months of 2021 $ 22,840 2022 28,662 2023 14,081 2024 10,185 2025 and thereafter 55,851 Total 131,619

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Loss Per Share	Three Months Ended March 31, 2021 2020 In thousands, except per share amounts Numerator: Net loss attributable to Stratasys Ltd. for basic and diluted loss per share (18,911 ) (21,703 ) Denominator: Weighted average shares - for basic and diluted net loss per share 58,616 54,544 Net loss per share attributable to Stratasys Ltd. Basic and diluted $ (0.32 ) $ (0.40 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities carried at fair value on a recurring basis	March 31, 2021 December 31, 2020 Level 2 Level 3 Level 2 Level 3 (U.S. $ in thousands) Assets: Foreign exchange forward contracts not designated as hedging instruments $ 41 - $ 56 - Foreign exchange forward contracts designated as hedging instruments 754 - 793 - Liabilities: Foreign exchange forward contracts not designated as hedging instruments (252 ) - (1,098 ) - Foreign exchange forward contracts designated as hedging instruments (140 ) - (1,584 ) - Contingent consideration - 40,234 - 37,400 $ 403 $ 40,234 $ (1,833 ) $ 37,400

Derivative instruments and he_2

Derivative instruments and hedging activities (Tables)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of balance sheet classification and fair values of derivative instruments	Fair Value Notional Amount March 31, December 31, March 31, December 31, Balance sheet location 2021 2020 2021 2020 U.S. $ in thousands Assets derivatives -Foreign exchange contracts, not designated as hedging instruments Other current assets $ 41 $ 56 $ 10,981 $ 36,882 Assets derivatives -Foreign exchange contracts, designated as cash flow hedge Other current assets 754 793 50,316 10,417 Liability derivatives -Foreign exchange contracts, not designated as hedging instruments Accrued expenses and other current liabilities (252 ) (1,098 ) 44,078 37,999 Liability derivatives -Foreign exchange contracts, designated as hedging instruments Accrued expenses and other current liabilities (140 ) (1,584 ) 18,473 50,186 $ 403 $ (1,833 ) $ 123,848 $ 135,484

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
Schedule of stock-based compensation expenses	Three Months Ended March 31, 2021 2020 U.S $ in thousands Cost of sales $ 634 $ 402 Research and development, net 1,424 1,556 Selling, general and administrative 5,147 2,949 Total stock-based compensation expenses $ 7,205 $ 4,907
Schedule of stock option activity	Number of Options Weighted Average Exercise Price Options outstanding as of January 1, 2021 $ 2,102,529 $ 28.06 Granted 46,366 3.15 Exercised (137,220 ) 21.01 Forfeited (13,439 ) 36.26 Options outstanding as of March 31, 2021 1,998,236 27.91 Options exercisable as of March 31, 2021 $ 1,619,049 $ 30.82
Schedule of RSUs and PSUs activity	Number of RSUs and PSUs Weighted Average Grant Date Fair Value Unvested as of January 1, 2021 $ 2,801,116 $ 21.08 Granted 1,201,186 34.62 Vested (533,533 ) 22.56 Forfeited (110,731 ) 20.69 Unvested as of March 31, 2021 $ 3,358,038 $ 25.70
Schedule of accumulated other comprehensive income (loss)	Three Months Ended March 31, 2021 Net Unrealized Gain (Loss) on Cash Flow Hedges Foreign Currency Translation Adjustments Total U.S. $ in thousands Balance as of January 1, 2021 $ (1,673 ) $ (7,173 ) $ (8,846 ) Other comprehensive income (loss) before reclassifications 1,607 (961 ) 646 Amounts reclassified from accumulated other comprehensive loss 566 - 566 Other comprehensive income (loss) 2,173 (961 ) 1,212 Balance as of March 31, 2020 $ 500 $ (8,134 ) $ (7,634 ) Three Months Ended March 31, 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 849 (1,954 ) (1,105 ) Amounts reclassified from accumulated other comprehensive loss (27 ) - (27 ) Other comprehensive income (loss) 822 (1,954 ) (1,132 ) Balance as of March 31, 2020 $ 812 $ (9,660 ) $ (8,848 )

Certain Transactions (Details)

Certain Transactions (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended
	Feb. 16, 2021	Dec. 31, 2020	Mar. 31, 2021
Certain Transactions [Abstract]
Aggregate purchase price		$ 97.1
Exchange agreement description			In exchange for 100% of the outstanding shares of Origin the Company issued 1,488 thousand ordinary shares, paid cash upon closing, and is obligated to pay additional payments (combination of cash and shares) subject to performance-based earn-outs over 3 years.
Contingent Consideration, description			The total contingent payments could reach to a maximum aggregate amount of up to $40 million. Approximately 50% of the payments shall be settled in cash, and 50% shall be settled through the issuance of ordinary shares.
Additional payment amount			$ 6
Retention period			3 years
Compensation expenses			$ 1.1
Intangible asset			$ 71
Intangible asset useful-life			10 years
Exchange for outstanding shares, percentage	100.00%
Based earnouts over term	2 years
Changes in fair value of equity investment			$ 3.7

Certain Transactions (Details)

Certain Transactions (Details) - Schedule of fair value of the consideration transferred to Origin stockholders for the Origin transaction $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Schedule of fair value of the consideration transferred to Origin stockholders for the Origin transaction [Abstract]
Cash payments	$ 33,025
Issuance of ordinary shares to Origin stockholders	26,636
Contingent consideration at estimated fair value	37,400
Total consideration	$ 97,061

Certain Transactions (Details_2

Certain Transactions (Details) - Schedule of preliminary allocation of the purchase price to assets acquired and liabilities $ in Thousands	Mar. 31, 2021USD ($)
Schedule of preliminary allocation of the purchase price to assets acquired and liabilities [Abstract]
Cash and cash equivalents	$ 2,083
Goodwill	36,379
Intangible assets	71,125
Other assets	4,364
Total assets acquired	113,951
Net deferred tax liabilities	14,007
Other labilities	2,883
Total liabilities assumed	16,890
Net assets acquired	$ 97,061

Revenues (Details)

Revenues (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Revenue Recognition [Abstract]
Long term deferred revenue	$ 14.1	$ 14.2
Revenue recognized	18.4
Remaining performance obligations	89.7
Expected remaining performance obligations recognized during next 12 months	74.9
Expected remaining performance obligations recognized over subsequent 12 months	9.2
Expected remaining performance obligations recognized remainder thereafter	5.6
Deferred sales commissions	$ 5.3	$ 5

Revenues (Details) - Schedule o

Revenues (Details) - Schedule of disaggregation of revenues - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	$ 134,189	$ 132,907
Americas [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	82,113	86,573
EMEA [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	28,918	26,920
Asia Pacific [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	23,158	19,414
Product [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	90,324	83,172
Product [Member] | Americas [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	49,568	48,244
Product [Member] | EMEA [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	22,501	20,747
Product [Member] | Asia Pacific [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	18,255	14,181
Service [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	43,865	49,735
Service [Member] | Americas [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	32,545	38,329
Service [Member] | EMEA [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	6,417	6,173
Service [Member] | Asia Pacific [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	$ 4,903	$ 5,233

Revenues (Details) - Schedule_2

Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	$ 134,189	$ 132,907
Products [Member]
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	90,324	83,172
Services [Member]
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	43,865	49,735
Revenues recognized in point in time [Member]
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	100,925	93,816
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	90,324	83,172
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	10,601	10,644
Revenues recognized over time [Member]
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	33,264	39,091
Revenues recognized over time [Member] | Services [Member]
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	$ 33,264	$ 39,091

Revenues (Details) - Schedule_3

Revenues (Details) - Schedule of changes in deferred revenue - USD ($) $ in Thousands		Mar. 31, 2021	Dec. 31, 2020
Schedule of changes in deferred revenue [Abstract]
Deferred revenue	[1]	$ 63,487	$ 63,392
[1]	Includes $14.1 million and $14.2 million under long term deferred revenue in the Company's consolidated balance sheets as of March 31, 2021 and December 31, 2020, respectively.

Inventories (Details) - Schedul

Inventories (Details) - Schedule of Inventories - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Schedule of Inventories [Abstract]
Finished goods	$ 52,845	$ 61,297
Work-in-process	3,739	3,163
Raw materials	67,615	67,212
Total Inventory	$ 124,199	$ 131,672

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Sep. 30, 2020
Goodwill and Other Intangible Assets (Details) [Line Items]
Goodwill impairment charge			$ 386.2
Amortization of intangible assets	$ 7.5	$ 6.2
Stratasys-Objet reporting unit [Member]
Goodwill and Other Intangible Assets (Details) [Line Items]
Regain the loss of revenue	2 years
Discount rate	13.50%
Minimum [Member] | Stratasys-Objet reporting unit [Member]
Goodwill and Other Intangible Assets (Details) [Line Items]
Growth rate	2.50%
Maximum [Member] | Stratasys-Objet reporting unit [Member]
Goodwill and Other Intangible Assets (Details) [Line Items]
Discount rate	3.10%

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Details) - Schedule of changes in the carrying amount of goodwill $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Schedule of changes in the carrying amount of goodwill [Abstract]
Goodwill as of January 1, 2021	$ 35,694
Goodwill acquired	1,716	[1]
Foreign currency translation adjustments	664
Goodwill as of March 31, 2021	$ 38,074
[1]	The goodwill was acquired as part of RPS acquisition. See Note 3.

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	$ 517,425	$ 510,115
Accumulated Amortization	(385,806)	(378,547)
Net Book Value	131,619	131,569
Developed technology [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	365,207	357,863
Accumulated Amortization	(265,352)	(260,123)
Net Book Value	99,855	97,740
Patents [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	17,894	17,699
Accumulated Amortization	(8,812)	(8,487)
Net Book Value	9,082	9,212
Trademarks and trade names [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	26,031	26,036
Accumulated Amortization	(21,397)	(21,114)
Net Book Value	4,634	4,922
Customer relationships [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	100,883	101,107
Accumulated Amortization	(82,835)	(81,413)
Net Book Value	18,048	19,695
Capitalized software development costs [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	7,410	7,410
Accumulated Amortization	(7,410)	$ (7,410)
Net Book Value

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets (Details) - Schedule of estimated amortization expense relating to intangible assets $ in Thousands	Mar. 31, 2021USD ($)
Schedule of estimated amortization expense relating to intangible assets [Abstract]
Remaining 9 months of 2021	$ 22,840
2022	28,662
2023	14,081
2024	10,185
2025 and thereafter	55,851
Total	$ 131,619

Net Loss Per Share (Details)

Net Loss Per Share (Details) - shares shares in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of net loss per share	5.4	5.3

Net Loss Per Share (Details) -

Net Loss Per Share (Details) - Schedule of Basic and Diluted Loss Per Share - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator:
Net loss attributable to Stratasys Ltd. for basic and diluted loss per share	$ (18,911)	$ (21,703)
Denominator:
Weighted average shares - for basic and diluted net loss per share	58,616	54,544
Net loss per share attributable to Stratasys Ltd.
Basic and diluted	$ (0.32)	$ (0.40)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income tax expense (benefits)	$ 0.9	$ 0.2

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Schedule of assets and liabilities carried at fair value on a recurring basis - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Inputs, Level 2 [Member]
Assets:
Foreign exchange forward contracts not designated as hedging instruments	$ 41	$ 56
Foreign exchange forward contracts designated as hedging instruments	754	793
Liabilities:
Foreign exchange forward contracts not designated as hedging instruments	(252)	(1,098)
Foreign exchange forward contracts designated as hedging instruments	(140)	(1,584)
Contingent consideration
Foreign exchange forward contracts fair value	403	(1,833)
Fair Value, Inputs, Level 3 [Member]
Assets:
Foreign exchange forward contracts not designated as hedging instruments
Foreign exchange forward contracts designated as hedging instruments
Liabilities:
Foreign exchange forward contracts not designated as hedging instruments
Foreign exchange forward contracts designated as hedging instruments
Contingent consideration	40,234	37,400
Foreign exchange forward contracts fair value	$ 40,234	$ 37,400

Derivative instruments and he_3

Derivative instruments and hedging activities (Details) $ in Thousands, € in Millions, ₪ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2021ILS (₪)	Mar. 31, 2021EUR (€)	Dec. 31, 2020USD ($)
Derivative instruments and hedging activities (Details) [Line Items]
Notional amount of derivative asset	$ 55,100
Gain (Loss) on derivative instrument	2,200	$ 1,500
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	$ 50,316				$ 10,417
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 | ₪			₪ 29.3
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 | €				€ 33

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	Mar. 31, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Notional amount of derivative asset	$ 55,100
Fair value	403	$ (1,833)
Notional amount	123,848	135,484
Not designated as hedging instruments [Member] | Other current assets [Member] | Foreign exchange contracts [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative asset	41	56
Notional amount of derivative asset	10,981	36,882
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	(252)	(1,098)
Notional amount of derivative liability	44,078	37,999
Designated as hedging instruments [Member] | Other current assets [Member] | Foreign exchange contracts [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative asset	754	793
Notional amount of derivative asset	50,316	10,417
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	(140)	(1,584)
Notional amount of derivative liability	$ 18,473	$ 50,186

Equity (Details)

Equity (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)shares
Equity (Details) [Line Items]
Public offering of ordinary shares, net	$ 218,875
Deferred tax assets in connection with public offering expense	$ 1,156
Ordinary Shares [Member]
Equity (Details) [Line Items]
Sale of public offering shares (in Shares) | shares	7,931,034
Stock Option [Member]
Equity (Details) [Line Items]
Unrecognized compensation cost	$ 3,400
Weighted-average period	3 years 3 months 18 days
RSUs and PSUs [Member]
Equity (Details) [Line Items]
Unrecognized compensation cost	$ 76,000
Weighted-average period	2 years 8 months 12 days

Equity (Details) - Schedule of

Equity (Details) - Schedule of stock-based compensation expenses - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	$ 7,205	$ 4,907
Cost of sales [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	634	402
Research and development, net [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	1,424	1,556
Selling, general and administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	$ 5,147	$ 2,949

Equity (Details) - Schedule o_2

Equity (Details) - Schedule of stock option activity shares in Thousands	3 Months Ended
	Dec. 31, 2021$ / sharesshares
Stockholders' Equity Note [Abstract]
Number of Options, Options outstanding | shares	2,102,529
Weighted Average Exercise Price, Options outstanding | $ / shares	$ 28.06
Number of Options, Granted | shares	46,366
Weighted Average Exercise Price, Granted | $ / shares	$ 3.15
Number of Options, Exercised | shares	(137,220)
Weighted Average Exercise Price, Exercised | $ / shares	$ 21.01
Number of Options, Forfeited | shares	(13,439)
Weighted Average Exercise Price, Forfeited | $ / shares	$ 36.26
Number of Options, Options outstanding | shares	1,998,236
Weighted Average Exercise Price, Options outstanding | $ / shares	$ 27.91
Number of Options, Options exercisable | shares	1,619,049
Weighted Average Exercise Price, Options exercisable | $ / shares	$ 30.82

Equity (Details) - Schedule o_3

Equity (Details) - Schedule of RSUs and PSUs activity - Restricted and Phantom Share Units [Member] shares in Thousands	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Equity (Details) - Schedule of RSUs and PSUs activity [Line Items]
Number of RSUs and PSUs, Unvested | shares	2,801,116
Weighted Average Grant Date Fair Value, Unvested | $ / shares	$ 21.08
Number of RSUs and PSUs, Granted | shares	1,201,186
Weighted Average Grant Date Fair Value, Granted | $ / shares	$ 34.62
Number of RSUs and PSUs, Vested | shares	(533,533)
Weighted Average Grant Date Fair Value, Vested | $ / shares	$ 22.56
Number of RSUs and PSUs, Forfeited | shares	(110,731)
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	$ 20.69
Number of RSUs and PSUs, Unvested | shares	3,358,038
Weighted Average Grant Date Fair Value, Unvested | $ / shares	$ 25.70

Equity (Details) - Schedule o_4

Equity (Details) - Schedule of accumulated other comprehensive income (loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ (8,846)	$ (7,716)
Other comprehensive income (loss) before reclassifications	646	(1,105)
Amounts reclassified from accumulated other comprehensive loss	566	(27)
Other comprehensive income (loss)	1,212	(1,132)
Balance	(7,634)	(8,848)
Net Unrealized Gain (Loss) on Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(1,673)	(10)
Other comprehensive income (loss) before reclassifications	1,607	849
Amounts reclassified from accumulated other comprehensive loss	566	(27)
Other comprehensive income (loss)	2,173	822
Balance	500	812
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(7,173)	(7,706)
Other comprehensive income (loss) before reclassifications	(961)	(1,954)
Amounts reclassified from accumulated other comprehensive loss
Other comprehensive income (loss)	(961)	(1,954)
Balance	$ (8,134)	$ (9,660)