Stratasys (SSYS) 6-K 4 Nov 21 2021 Q3 Condensed Consolidated Interim Financial Statements Financial data

Document And Entity Information

Document And Entity Information	9 Months Ended
	Sep. 30, 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	Sep. 30, 2021
Document Fiscal Year Focus	2021
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, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 332,871	$ 272,092
Short-term deposits	187,000	27,000
Accounts receivable, net of allowance for credit losses of $0.7 million and $0.9 million as of September 30, 2021 and December 31, 2020	121,848	106,068
Inventories	119,925	131,672
Prepaid expenses	8,634	6,717
Other current assets	27,317	16,943
Total current assets	797,595	560,492
Non-current assets
Property, plant and equipment, net	199,668	201,232
Goodwill	39,750	35,694
Other intangible assets, net	117,010	131,569
Operating lease right-of-use assets	15,624	21,298
Other non-current assets	58,365	39,717
Total non-current assets	430,417	429,510
Total assets	1,228,012	990,002
Current liabilities
Accounts payable	48,292	16,987
Accrued expenses and other current liabilities	30,875	31,061
Accrued compensation and related benefits	36,983	25,659
Deferred revenues - short term	49,104	49,165
Operating lease liabilities - short term	7,514	9,282
Total current liabilities	172,768	132,154
Non-current liabilities
Deferred revenues - long term	17,980	14,227
Operating lease liabilities - long term	8,353	12,567
Contingent consideration	40,589	37,400
Other non-current liabilities	37,869	34,059
Total non-current liabilities	104,791	98,253
Total liabilities	277,559	230,407
Contingencies (see note 12)
Redeemable non-controlling interests		227
Equity
Ordinary shares, NIS 0.01 nominal value, authorized 180,000 thousand shares; 65,467 thousand shares and 56,617 thousand shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively	182	155
Additional paid-in capital	3,001,685	2,753,955
Accumulated other comprehensive loss	(8,372)	(8,846)
Accumulated deficit	(2,043,042)	(1,985,896)
Total equity	950,453	759,368
Total liabilities and equity	$ 1,228,012	$ 990,002

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parentheticals) shares in Thousands	Sep. 30, 2021USD ($)shares	Sep. 30, 2021₪ / shares	Dec. 31, 2020USD ($)shares	Dec. 31, 2020₪ / shares
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance for credit losses (in Dollars) | $	$ 700		$ 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	65,467		56,617
Ordinary shares, outstanding	65,467		56,617

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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues
Revenues	$ 159,009	$ 127,892	$ 440,203	$ 378,422
Cost of revenues
Cost of revenues	90,821	78,123	253,168	225,047
Gross profit	68,188	49,769	187,035	153,375
Operating expenses
Research and development, net	22,645	19,562	65,683	65,059
Selling, general and administrative	67,462	48,343	184,353	155,630
Goodwill impairment		386,154		386,154
Total operating expenses	90,107	454,059	250,036	606,843
Operating loss	(21,919)	(404,290)	(63,001)	(453,468)
Financial expenses, net	(634)	(167)	(1,383)	(847)
Loss before income taxes	(22,553)	(404,457)	(64,384)	(454,315)
Income tax benefit	699	343	6,009	2,250
Share in profit (loss) of associated companies	3,778	(952)	1,229	(2,740)
Net loss	(18,076)	(405,066)	(57,146)	(454,805)
Net loss attributable to non-controlling interests		(4)		(54)
Net loss attributable to Stratasys Ltd.	$ (18,076)	$ (405,062)	$ (57,146)	$ (454,751)
Net loss per ordinary share attributable to Stratasys Ltd. - basic and diluted (in Dollars per share)	$ (0.28)	$ (7.35)	$ (0.91)	$ (8.29)
Weighted average ordinary shares outstanding. - basic and diluted (in Shares)	65,018	55,086	62,888	54,851
Comprehensive loss
Net loss	$ (18,076)	$ (405,066)	$ (57,146)	$ (454,805)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(2,247)	1,056	(2,105)	(611)
Unrealized gains (losses) on derivatives designated as cash flow hedges	578	(1,851)	2,579	(962)
Other comprehensive income (loss), net of tax	(1,669)	(795)	474	(1,573)
Comprehensive loss	(19,745)	(405,861)	(56,672)	(456,378)
Less: comprehensive loss attributable to non-controlling interests		(4)		(54)
Comprehensive loss attributable to Stratasys Ltd.	(19,745)	(405,857)	(56,672)	(456,324)
Products
Revenues
Revenues	108,888	83,548	299,517	240,597
Cost of revenues
Cost of revenues	54,820	47,339	151,471	126,556
Services
Revenues
Revenues	50,121	44,344	140,686	137,825
Cost of revenues
Cost of revenues	$ 36,001	$ 30,784	$ 101,697	$ 98,491

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
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
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
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
Expenses in connection with March 2021 public offering	$ 24	218,851			218,875
Expenses in connection with March 2021 public offering (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
Issuance of shares in connection with stock-based compensation plans		633			633
Issuance of shares in connection with stock-based compensation plans (in Shares)	178
Stock-based compensation		7,977			7,977
Deferred tax assets in connection with public offering expenses		175			175
Comprehensive income (loss)			(20,159)	931	(19,228)
Balance at Jun. 30, 2021	$ 181	2,992,833	(2,024,966)	(6,703)	961,345
Balance (in Shares) at Jun. 30, 2021	65,396
Issuance of shares in connection with stock-based compensation plans	$ 1	692			693
Issuance of shares in connection with stock-based compensation plans (in Shares)	71
Stock-based compensation		7,958			7,958
Expenses in connection with March 2021 public offering		(25)			(25)
Reduction of redeemable non-controlling interest		227			227
Comprehensive income (loss)			(18,076)	(1,669)	(19,745)
Balance at Sep. 30, 2021	$ 182	$ 3,001,685	$ (2,043,042)	$ (8,372)	$ 950,453
Balance (in Shares) at Sep. 30, 2021	65,467

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities
Net loss	$ (57,146)	$ (454,805)
Adjustments to reconcile net loss to net cash provided by operating activities:
Goodwill impairment		386,154
Impairment of other long-lived assets	1,944	5,557
Depreciation and amortization	41,412	37,428
Stock-based compensation	23,140	15,894
Foreign currency transaction loss	4,210	(2,565)
Deferred income taxes	(9,054)	(1,541)
Share in loss (profit) of associated companies	(1,173)	2,740
Revaluation of investments	556
Other non-cash items, net	364	37
Change in cash attributable to changes in operating assets and liabilities:
Accounts receivable, net	(17,023)	29,563
Inventories	8,271	15,167
Other current assets and prepaid expenses	(11,911)	5,805
Other non-current assets	3,834	2,681
Accounts payable	29,204	(17,579)
Other current liabilities	14,047	(8,430)
Deferred revenues	3,470	(8,070)
Other non-current liabilities	(2,749)	(3,932)
Net cash provided by operating activities	31,396	4,104
Cash flows from investing activities
Cash paid for acquisitions, net of cash acquired	(6,669)
Purchase of property and equipment	(16,193)	(19,912)
Investments in short-term bank deposits	(249,000)	(27,000)
Investments in unconsolidated entities	(7,000)
Proceeds from maturity of short-term bank deposits	89,000
Proceeds from sale of equity method investment		3,175
Net proceeds from divestitures of subsidiaries and associated companies		1,000
Purchase of intangible assets	(1,219)	(1,598)
Other investing activities	(85)	89
Net cash used in investing activities	(191,166)	(44,246)
Cash flows from financing activities
Proceeds from public offering, net of issuance costs	218,850
Proceeds from exercise of stock options	3,699	53
Other financing activities	406
Net cash provided by financing activities	222,955	53
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(2,413)	(484)
Net change in cash, cash equivalents and restricted cash	60,772	(40,573)
Cash, cash equivalents and restricted cash, beginning of period	272,216	293,597
Cash, cash equivalents and restricted cash, end of period	332,988	253,024
Supplemental disclosures of cash flow information:
Transfer of inventory to fixed assets	2,760	2,445
Transfer of fixed assets to inventory	$ 844	$ 281

Business Description and Basis

Business Description and Basis of Presentation	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 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	9 Months Ended
	Sep. 30, 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	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 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 38,094 Intangible assets 71,120 Other assets 3,493 Total assets acquired 114,790 Net deferred tax liabilities 14,007 Other labilities 3,722 Total liabilities assumed 17,729 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. XAAR acquisition On November 1, 2021, the Company acquired the remaining 55% share of XAAR 3D, for an aggregate purchase price of $33.8 million . The Company paid cash upon closing and it is obligated to make additional earn-out payments and royalties on products and services sales for up to 15 years. 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 it 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 three and nine months ended September 30, 2021 losses of $2.0 million and $1.2 million respectively, for revaluation of an equity investment. In prior periods the investment was treated as a non-marketable equity investment without readily determinable fair value. The entity in which the Company invested became public during the first quarter and accordingly the investment is now treated as a marketable equity investment.

Revenues

Revenues	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2021 and 2020: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (U.S. $ in thousands) (U.S. $ in thousands) Americas Products $ 65,610 $ 52,827 $ 172,961 $ 145,871 Service 37,962 33,770 105,673 106,000 Total Americas 103,572 86,597 278,634 251,871 EMEA Products 26,896 17,245 75,223 53,735 Service 7,165 6,003 20,279 17,348 Total EMEA 34,061 23,248 95,502 71,083 Asia Pacific Products 16,382 13,476 51,333 40,991 Service 4,994 4,571 14,734 14,477 Total Asia Pacific 21,376 18,047 66,067 55,468 Total Revenues $ 159,009 $ 127,892 $ 440,203 $ 378,422 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, 2021 and 2020: Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (U.S. $ in thousands) (U.S. $ in thousands) Revenues recognized in point in time from: Products $ 108,888 $ 83,548 $ 299,517 $ 240,597 Services 12,056 10,387 33,781 29,809 Total revenues recognized in point in time 120,944 93,935 333,298 270,406 Revenues recognized over time from: Services 38,065 33,957 106,905 108,016 Total revenues recognized over time 38,065 33,957 106,905 108,016 Total Revenues $ 159,009 $ 127,892 $ 440,203 $ 378,422 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, 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 September 30, 2021 and December 31, 2020 were as follows: September 30, 2021 December 31, 2020 U.S. $ in thousands Deferred revenue* 67,084 63,392 *Includes $18 million and $14.2 million under long term deferred revenue in the Company's consolidated balance sheets as of September 30, 2021 and December 31, 2020, respectively. Revenue recognized in 2021 that was included in deferred revenue balance as of December 31, 2020 was $9.7 $41.8 million 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 and comprehensive loss. As of September 30, 2021 and December 31, 2020, the deferred commissions amounted to $6.6 million and $5 million, respectively.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventories	Note 5. Inventories Inventories consisted of the following: September 30, 2021 December 31, 2020 U.S. $ in thousands Finished goods $ 53,576 $ 61,297 Work-in-process 3,734 3,163 Raw materials 62,615 67,212 $ 119,925 $ 131,672

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2021 were as follows: U.S. $ in thousands Goodwill as of January 1, 2021* $ 35,694 Goodwill acquired** 1,716 Measurement period adjustments 2,400 Foreign currency translation adjustments (60 ) Goodwill as of September 30, 2021 $ 39,750 *The goodwill was acquired as part of the Origin acquisition. See Note 3. **The goodwill was acquired as part of the RPS acquisition. See Note 3. 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 prior two quarters, in each case, 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 expected it would 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 assumed 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 was 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, a 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, 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 $ 365,039 $ (276,097 ) $ 88,942 $ 357,863 $ (260,123 ) $ 97,740 Patents 18,768 (9,594 ) 9,174 17,699 (8,487 ) 9,212 Trademarks and trade names 26,056 (21,962 ) 4,094 26,036 (21,114 ) 4,922 Customer relationships 100,802 (86,002 ) 14,800 101,107 (81,413 ) 19,694 Capitalized software development costs 7,410 (7,410 ) - 7,410 (7,410 ) - $ 518,075 $ (401,065 ) $ 117,010 $ 510,115 $ (378,547 ) $ 131,568 Amortization expenses relating to intangible assets for the three-month periods ended September 30, 2021 and 2020 were approximately $7.7 million and $6.2 million, respectively. Amortization expenses relating to intangible assets for the nine-month periods ended September 30, 2021 and 2020 were approximately $23.0 million and $18.6 million, respectively. As of September 30, 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 3 months of 2021 $ 8,213 2022 30,765 2023 16,166 2024 12,251 2025 and thereafter 49,615 Total $ 117,010

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2021 and 2020: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 In thousands, except per share amounts In thousands, except per share amounts Numerator: Net loss attributable to Stratasys Ltd. for basic and diluted net loss per share (18,076 ) (405,062 ) (57,146 ) (454,751 ) Denominator: Weighted average shares - for basic and diluted net loss per share 65,018 55,086 62,888 54,851 Net loss per share attributable to Stratasys Ltd. Basic and diluted $ (0.28 ) $ (7.35 ) $ (0.91 ) $ (8.29 ) The computation of diluted net loss per share excluded share awards of 5.0 million shares and 4.8 million shares for the three and nine months ended September 30, 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	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 8. Income Taxes The Company had income tax benefit of $0.7 million for the three-month period ended September 30, 2021 compared to income tax benefit of $0.3 million for the three-month period ended September 30, 2020, and income tax benefit of $6.0 million for the nine-month period ended September 30, 2021 compared to income tax benefit of $2.3 million for the nine-month period ended September 30, 2020. The Company’s effective tax rate as of September 30, 2021 was primarily impacted by our transition during the second quarter of 2021 to the new Israeli tax regime of “Preferred Technology Enterprise”, under which the Company is subject to a 12% tax rate, as well as different geographic mixes of earnings and losses and a valuation allowance on losses of the Company's US subsidiaries.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 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: September 30, 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 $ 67 - $ 56 - Foreign exchange forward contracts designated as hedging instruments 634 - 793 - Liabilities: Foreign exchange forward contracts not designated as hedging instruments (2 ) - (1,098 ) - Foreign exchange forward contracts designated as hedging instruments - - (1,584 ) - Contingent consideration - 40,589 - 37,400 $ 699 $ 40,589 $ (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 assets, 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, 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 September 30, December 31, September 30, 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 $ 67 $ 56 $ 43,389 $ 36,882 Assets derivatives -Foreign exchange contracts, designated as cash flow hedge Other current assets 634 793 20,765 10,417 Liability derivatives -Foreign exchange contracts, not designated as hedging instruments Accrued expenses and other current liabilities (2 ) (1,098 ) 847 37,999 Liability derivatives -Foreign exchange contracts, designated as hedging instruments Accrued expenses and other current liabilities - (1,584 ) - 50,186 $ 699 $ (1,833 ) $ 65,001 $ 135,484 Foreign exchange contracts not designated as hedging instruments As of September 30, 2021, the notional amounts of the Company’s outstanding exchange forward contracts, not designated as hedging instruments, were $44.2 million, and were used to reduce foreign currency exposures. With respect to such derivatives, gain of $0.9 million and loss of $3.2 million Cash Flow Hedging - Hedges of forecasted foreign currency payroll and other operating expenses As of September 30, 2021, the Company had in effect foreign exchange forward contracts, designated as cash flow hedges for accounting purposes, for the conversion of $6.4 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 September 30, 2021, the Company had in effect foreign exchange forward contracts, designated as cash flow hedges for accounting purposes, for the conversion of 12.0 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, 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 Nine Months Ended September 30, September 30, 2021 2020 2021 2020 U.S $ in thousands U.S $ in thousands Cost of revenues $ 805 $ 524 $ 2,227 $ 1,370 Research and development, net 1,764 1,587 5,058 3,764 Selling, general and administrative 5,389 2,765 15,855 10,623 Total stock-based compensation expenses $ 7,958 $ 4,876 $ 23,140 $ 15,757 A summary of the Company’s stock option activity for the nine months ended September 30, 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 (209,819 ) 20.05 Forfeited (40,548 ) 41.82 Options outstanding as of September 30, 2021 1,898,528 28.04 Options exercisable as of September 30, 2021 1,569,587 $ 30.66 As of September 30, 2021, the unrecognized compensation cost of $2.5 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 three months ended September 30, 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 1,272,386 33.91 Vested (709,434 ) 21.88 Forfeited (284,276 ) 21.98 Unvested as of September 30, 2021 3,079,792 $ 26.11 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, 2021, the unrecognized compensation cost of $60 million related to all unvested, equity-classified RSUs and PSUs is expected to be recognized as expense over a weighted-average period of 2.34 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, 2021 and 2020, respectively: Nine Months Ended September 30, 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 before reclassifications 2,427 (2,105 ) 322 Amounts reclassified from accumulated other comprehensive loss 152 - 152 Other comprehensive income 2,579 (2,105 ) 474 Balance as of September 30, 2021 $ 906 $ (9,278 ) $ (8,372 ) Nine Months Ended September 30, 2020 Net Unrealized Gain (Loss) on Cash Flow Hedges Foreign Currency Translation Adjustments Total U.S. $ in thousands Balance as of January 1, 2020 $ (10 ) $ (7,706 ) $ (7,716 ) Other comprehensive income (loss) before reclassifications (299 ) (611 ) (910 ) Amounts reclassified from accumulated other comprehensive loss (663 ) - (663 ) Other comprehensive income (loss) (962 ) (611 ) (1,573 ) Balance as of September 30, 2020 $ (972 ) $ (8,317 ) $ (9,289 ) c. Public offering of ordinary shares During March 2021, the Company completed a public offering 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 $1.3 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	9 Months Ended
	Sep. 30, 2021
Loss Contingency [Abstract]
Contingencies	Note 12. Contingencies Legal proceedings Subsequent to September 30, 2021, the Company reached preliminary settlement on an employees related matter in the US. The financial statements for the third quarter include a provision in respect of this settlement. 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)	9 Months Ended
	Sep. 30, 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 38,094 Intangible assets 71,120 Other assets 3,493 Total assets acquired 114,790 Net deferred tax liabilities 14,007 Other labilities 3,722 Total liabilities assumed 17,729 Net assets acquired $ 97,061

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Schedule of disaggregation of revenues	Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (U.S. $ in thousands) (U.S. $ in thousands) Americas Products $ 65,610 $ 52,827 $ 172,961 $ 145,871 Service 37,962 33,770 105,673 106,000 Total Americas 103,572 86,597 278,634 251,871 EMEA Products 26,896 17,245 75,223 53,735 Service 7,165 6,003 20,279 17,348 Total EMEA 34,061 23,248 95,502 71,083 Asia Pacific Products 16,382 13,476 51,333 40,991 Service 4,994 4,571 14,734 14,477 Total Asia Pacific 21,376 18,047 66,067 55,468 Total Revenues $ 159,009 $ 127,892 $ 440,203 $ 378,422
Schedule of disaggregated based on the timing of revenue recognition	Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (U.S. $ in thousands) (U.S. $ in thousands) Revenues recognized in point in time from: Products $ 108,888 $ 83,548 $ 299,517 $ 240,597 Services 12,056 10,387 33,781 29,809 Total revenues recognized in point in time 120,944 93,935 333,298 270,406 Revenues recognized over time from: Services 38,065 33,957 106,905 108,016 Total revenues recognized over time 38,065 33,957 106,905 108,016 Total Revenues $ 159,009 $ 127,892 $ 440,203 $ 378,422
Schedule of changes in deferred revenue	September 30, 2021 December 31, 2020 U.S. $ in thousands Deferred revenue* 67,084 63,392

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Schedule of Inventories	September 30, 2021 December 31, 2020 U.S. $ in thousands Finished goods $ 53,576 $ 61,297 Work-in-process 3,734 3,163 Raw materials 62,615 67,212 $ 119,925 $ 131,672

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 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 Measurement period adjustments 2,400 Foreign currency translation adjustments (60 ) Goodwill as of September 30, 2021 $ 39,750
Schedule of other intangible assets	September 30, 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 $ 365,039 $ (276,097 ) $ 88,942 $ 357,863 $ (260,123 ) $ 97,740 Patents 18,768 (9,594 ) 9,174 17,699 (8,487 ) 9,212 Trademarks and trade names 26,056 (21,962 ) 4,094 26,036 (21,114 ) 4,922 Customer relationships 100,802 (86,002 ) 14,800 101,107 (81,413 ) 19,694 Capitalized software development costs 7,410 (7,410 ) - 7,410 (7,410 ) - $ 518,075 $ (401,065 ) $ 117,010 $ 510,115 $ (378,547 ) $ 131,568
Schedule of estimated amortization expense relating to intangible assets	Estimated amortization expense (U.S. $ in thousands) Remaining 3 months of 2021 $ 8,213 2022 30,765 2023 16,166 2024 12,251 2025 and thereafter 49,615 Total $ 117,010

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of basic and diluted loss per share	Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 In thousands, except per share amounts In thousands, except per share amounts Numerator: Net loss attributable to Stratasys Ltd. for basic and diluted net loss per share (18,076 ) (405,062 ) (57,146 ) (454,751 ) Denominator: Weighted average shares - for basic and diluted net loss per share 65,018 55,086 62,888 54,851 Net loss per share attributable to Stratasys Ltd. Basic and diluted $ (0.28 ) $ (7.35 ) $ (0.91 ) $ (8.29 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities carried at fair value on a recurring basis	September 30, 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 $ 67 - $ 56 - Foreign exchange forward contracts designated as hedging instruments 634 - 793 - Liabilities: Foreign exchange forward contracts not designated as hedging instruments (2 ) - (1,098 ) - Foreign exchange forward contracts designated as hedging instruments - - (1,584 ) - Contingent consideration - 40,589 - 37,400 $ 699 $ 40,589 $ (1,833 ) $ 37,400

Derivative instruments and he_2

Derivative instruments and hedging activities (Tables)	9 Months Ended
	Sep. 30, 2021
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 2021 2020 2021 2020 U.S. $ in thousands Assets derivatives -Foreign exchange contracts, not designated as hedging instruments Other current assets $ 67 $ 56 $ 43,389 $ 36,882 Assets derivatives -Foreign exchange contracts, designated as cash flow hedge Other current assets 634 793 20,765 10,417 Liability derivatives -Foreign exchange contracts, not designated as hedging instruments Accrued expenses and other current liabilities (2 ) (1,098 ) 847 37,999 Liability derivatives -Foreign exchange contracts, designated as hedging instruments Accrued expenses and other current liabilities - (1,584 ) - 50,186 $ 699 $ (1,833 ) $ 65,001 $ 135,484

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Schedule of stock-based compensation expenses	Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 U.S $ in thousands U.S $ in thousands Cost of revenues $ 805 $ 524 $ 2,227 $ 1,370 Research and development, net 1,764 1,587 5,058 3,764 Selling, general and administrative 5,389 2,765 15,855 10,623 Total stock-based compensation expenses $ 7,958 $ 4,876 $ 23,140 $ 15,757
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 (209,819 ) 20.05 Forfeited (40,548 ) 41.82 Options outstanding as of September 30, 2021 1,898,528 28.04 Options exercisable as of September 30, 2021 1,569,587 $ 30.66
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 1,272,386 33.91 Vested (709,434 ) 21.88 Forfeited (284,276 ) 21.98 Unvested as of September 30, 2021 3,079,792 $ 26.11
Schedule of accumulated other comprehensive income (loss)	Nine Months Ended September 30, 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 before reclassifications 2,427 (2,105 ) 322 Amounts reclassified from accumulated other comprehensive loss 152 - 152 Other comprehensive income 2,579 (2,105 ) 474 Balance as of September 30, 2021 $ 906 $ (9,278 ) $ (8,372 ) Nine Months Ended September 30, 2020 Net Unrealized Gain (Loss) on Cash Flow Hedges Foreign Currency Translation Adjustments Total U.S. $ in thousands Balance as of January 1, 2020 $ (10 ) $ (7,706 ) $ (7,716 ) Other comprehensive income (loss) before reclassifications (299 ) (611 ) (910 ) Amounts reclassified from accumulated other comprehensive loss (663 ) - (663 ) Other comprehensive income (loss) (962 ) (611 ) (1,573 ) Balance as of September 30, 2020 $ (972 ) $ (8,317 ) $ (9,289 )

Business Description and Basi_2

Business Description and Basis of Presentation (Details)	9 Months Ended
	Sep. 30, 2021
Business Combination [Member]
Business Description and Basis of Presentation (Details) [Line Items]
Business acquisition, description	The Company’s approximately 1,600 granted and pending additive technology patents to date have been used to create models, prototypes, manufacturing tools, and production parts for a multitude of industries including aerospace, automotive, transportation, healthcare, consumer products, dental, medical, and education.

Certain Transactions (Details)

Certain Transactions (Details) - USD ($) $ in Millions	Nov. 01, 2021	Feb. 16, 2021	Dec. 31, 2020	Sep. 30, 2021	Sep. 30, 2021
Certain Transactions (Details) [Line Items]
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.
Description of contingent payments					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	$ 3.3
Intangible asset					$ 71
Intangible asset useful-life					10 years
Aggregate purchase price	$ 33.8
Additional earn-out payment	15 years
Exchange for outstanding shares, percentage		100.00%
Based earn-outs over term		2 years
Changes in fair value of equity investment				$ 2	$ 1.2
XAAR [Member]
Certain Transactions (Details) [Line Items]
Remaining acquire share, percentage	55.00%

Certain Transactions (Details)

Certain Transactions (Details) - Schedule of fair value of the consideration transferred to Origin stockholders for the Origin transaction $ in Thousands	9 Months Ended
	Sep. 30, 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	Sep. 30, 2021USD ($)
Schedule of preliminary allocation of the purchase price to assets acquired and liabilities [Abstract]
Cash and cash equivalents	$ 2,083
Goodwill	38,094
Intangible assets	71,120
Other assets	3,493
Total assets acquired	114,790
Net deferred tax liabilities	14,007
Other labilities	3,722
Total liabilities assumed	17,729
Net assets acquired	$ 97,061

Revenues (Details)

Revenues (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2020
Revenue Recognition [Abstract]
Long term deferred revenue	$ 18	$ 18	$ 14.2
Revenue recognized	9.7	41.8
Remaining performance obligations	121.4	121.4
Expected remaining performance obligations recognized during next 12 months	102.1	102.1
Expected remaining performance obligations recognized over subsequent 12 months	10.8	10.8
Expected remaining performance obligations recognized remainder thereafter	8.6	8.6
Deferred sales commissions	$ 6.6	$ 6.6	$ 5

Revenues (Details) - Schedule o

Revenues (Details) - Schedule of disaggregation of revenues - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	$ 159,009	$ 127,892	$ 440,203	$ 378,422
Product [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	108,888	83,548	299,517	240,597
Service [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	50,121	44,344	140,686	137,825
Americas [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	103,572	86,597	278,634	251,871
Americas [Member] | Product [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	65,610	52,827	172,961	145,871
Americas [Member] | Service [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	37,962	33,770	105,673	106,000
EMEA [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	34,061	23,248	95,502	71,083
EMEA [Member] | Product [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	26,896	17,245	75,223	53,735
EMEA [Member] | Service [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	7,165	6,003	20,279	17,348
Asia Pacific [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	21,376	18,047	66,067	55,468
Asia Pacific [Member] | Product [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	16,382	13,476	51,333	40,991
Asia Pacific [Member] | Service [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	$ 4,994	$ 4,571	$ 14,734	$ 14,477

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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	$ 159,009	$ 127,892	$ 440,203	$ 378,422
Revenues recognized in point in time [Member]
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	120,944	93,935	333,298	270,406
Revenues recognized over time [Member]
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	38,065	33,957	106,905	108,016
Products [Member]
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	108,888	83,548	299,517	240,597
Products [Member] | Revenues recognized in point in time [Member]
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	108,888	83,548	299,517	240,597
Services [Member]
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	50,121	44,344	140,686	137,825
Services [Member] | Revenues recognized in point in time [Member]
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	12,056	10,387	33,781	29,809
Services [Member] | Revenues recognized over time [Member]
Revenues (Details) - Schedule of disaggregated based on the timing of revenue recognition [Line Items]
Total Revenues	$ 38,065	$ 33,957	$ 106,905	$ 108,016

Revenues (Details) - Schedule_3

Revenues (Details) - Schedule of changes in deferred revenue - USD ($) $ in Thousands		Sep. 30, 2021	Dec. 31, 2020
Schedule of changes in deferred revenue [Abstract]
Deferred revenue	[1]	$ 67,084	$ 63,392
[1]	Includes $18 million and $14.2 million under long term deferred revenue in the Company's consolidated balance sheets as of September 30, 2021 and December 31, 2020, respectively.

Inventories (Details) - Schedul

Inventories (Details) - Schedule of Inventories - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Schedule of Inventories [Abstract]
Finished goods	$ 53,576	$ 61,297
Work-in-process	3,734	3,163
Raw materials	62,615	67,212
Total Inventory	$ 119,925	$ 131,672

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Goodwill and Other Intangible Assets (Details) [Line Items]
Goodwill impairment charge				$ 386.2
Amortization of intangible assets	$ 7.7	$ 6.2	$ 23	$ 18.6
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 - Goodwill [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Goodwill [Line Items]
Goodwill as of January 1, 2021	$ 35,694	[1]
Goodwill acquired	1,716	[2]
Measurement period adjustments	2,400
Foreign currency translation adjustments	(60)
Goodwill as of September 30, 2021	$ 39,750
[1]	The goodwill was acquired as part of the Origin acquisition. See Note 3.
[2]	The goodwill was acquired as part of the RPS acquisition. See Note 3.

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Net Book Value	$ 117,010	$ 131,569
Developed technology [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	365,039	357,863
Accumulated Amortization	(276,097)	(260,123)
Net Book Value	88,942	97,740
Patents [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	18,768	17,699
Accumulated Amortization	(9,594)	(8,487)
Net Book Value	9,174	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	26,056	26,036
Accumulated Amortization	(21,962)	(21,114)
Net Book Value	4,094	4,922
Customer relationships [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	100,802	101,107
Accumulated Amortization	(86,002)	(81,413)
Net Book Value	14,800	19,694
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
Other Intangible Assets [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	518,075	510,115
Accumulated Amortization	(401,065)	(378,547)
Net Book Value	$ 117,010	$ 131,568

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets (Details) - Schedule of estimated amortization expense relating to intangible assets $ in Thousands	Sep. 30, 2021USD ($)
Schedule of estimated amortization expense relating to intangible assets [Abstract]
Remaining 3 months of 2021	$ 8,213
2022	30,765
2023	16,166
2024	12,251
2025 and thereafter	49,615
Total	$ 117,010

Net Loss Per Share (Details)

Net Loss Per Share (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of net loss per share	5	5	4.8	4.8

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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net loss attributable to Stratasys Ltd. for basic and diluted net loss per share	$ (18,076)	$ (405,062)	$ (57,146)	$ (454,751)
Denominator:
Weighted average shares - for basic and diluted net loss per share	65,018	55,086	62,888	54,851
Net loss per share attributable to Stratasys Ltd.
Basic and diluted	$ (0.28)	$ (7.35)	$ (0.91)	$ (8.29)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income tax expense (benefits)	$ 0.7	$ 0.3	$ 6	$ 2.3
Effective income tax rate percentage			12.00%

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, 2021	Dec. 31, 2020
Fair Value, Inputs, Level 2 [Member]
Assets:
Foreign exchange forward contracts not designated as hedging instruments	$ 67	$ 56
Foreign exchange forward contracts designated as hedging instruments	634	793
Liabilities:
Foreign exchange forward contracts not designated as hedging instruments	(2)	(1,098)
Foreign exchange forward contracts designated as hedging instruments		(1,584)
Contingent consideration
Foreign exchange forward contracts fair value	699	(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	40,589	37,400
Foreign exchange forward contracts fair value	$ 40,589	$ 37,400

Derivative instruments and he_3

Derivative instruments and hedging activities (Details) $ in Thousands, € in Millions, ₪ in Millions	3 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Sep. 30, 2020ILS (₪)	Sep. 30, 2020EUR (€)
Derivative instruments and hedging activities (Details) [Line Items]
Notional amount of derivative asset	$ 44,200
Gain (Loss) on derivative instrument	900	$ 3,200
Other Current Assets [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative instruments and hedging activities (Details) [Line Items]
Notional amount of derivative asset	$ 20,765		$ 10,417
Other Current Assets [Member] | Conversion To NIS [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative instruments and hedging activities (Details) [Line Items]
Notional amount of derivative asset | ₪				₪ 6.4
Other Current Assets [Member] | Conversion To Euro [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative instruments and hedging activities (Details) [Line Items]
Notional amount of derivative asset | €					€ 12

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, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Notional amount of derivative liability	$ 44,200
Fair value	699	$ (1,833)
Notional amount	65,001	135,484
Other current assets [Member] | Not designated as hedging instruments [Member] | Foreign exchange contracts [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative liability	67	56
Notional amount of derivative liability	43,389	36,882
Other current assets [Member] | Designated as hedging instruments [Member] | Foreign exchange contracts [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative liability	634	793
Notional amount of derivative liability	20,765	10,417
Accrued expenses and other current liabilities [Member] | Not designated as hedging instruments [Member] | Foreign exchange contracts [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative liability	(2)	(1,098)
Notional amount of derivative liability	847	37,999
Accrued expenses and other current liabilities [Member] | Designated as hedging instruments [Member] | Foreign exchange contracts [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative liability		(1,584)
Notional amount of derivative liability		$ 50,186

Equity (Details)

Equity (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2021	Sep. 30, 2021
Equity (Details) [Line Items]
Public offering of ordinary shares, net	$ 218.9
Deferred tax asset		$ 1.3
Stock Option [Member]
Equity (Details) [Line Items]
Unrecognized compensation cost		$ 2.5
Weighted-average period		3 years 2 months 12 days
RSUs and PSUs [Member]
Equity (Details) [Line Items]
Unrecognized compensation cost		$ 60
Weighted-average period		2 years 4 months 2 days
Ordinary Shares [Member]
Equity (Details) [Line Items]
Sale of public offering shares (in Shares)	7,931,034

Equity (Details) - Schedule of

Equity (Details) - Schedule of stock-based compensation expenses - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Cost of revenues [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	$ 805	$ 524	$ 2,227	$ 1,370
Research and development, net [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	1,764	1,587	5,058	3,764
Selling, general and administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	5,389	2,765	15,855	10,623
Stock-based compensation plans [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	$ 7,958	$ 4,876	$ 23,140	$ 15,757

Equity (Details) - Schedule o_2

Equity (Details) - Schedule of stock option activity	9 Months Ended
	Sep. 30, 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	(209,819)
Weighted Average Exercise Price, Exercised | $ / shares	$ 20.05
Number of Options, Forfeited | shares	(40,548)
Weighted Average Exercise Price, Forfeited | $ / shares	$ 41.82
Number of Options, Options outstanding | shares	1,898,528
Weighted Average Exercise Price, Options outstanding | $ / shares	$ 28.04
Number of Options, Options exercisable | shares	1,569,587
Weighted Average Exercise Price, Options exercisable | $ / shares	$ 30.66

Equity (Details) - Schedule o_3

Equity (Details) - Schedule of RSUs and PSUs activity - Restricted and Phantom Share Units [Member]	9 Months Ended
	Sep. 30, 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	1,272,386
Weighted Average Grant Date Fair Value, Granted | $ / shares	$ 33.91
Number of RSUs and PSUs, Vested | shares	(709,434)
Weighted Average Grant Date Fair Value, Vested | $ / shares	$ 21.88
Number of RSUs and PSUs, Forfeited | shares	(284,276)
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	$ 21.98
Number of RSUs and PSUs, Unvested | shares	3,079,792
Weighted Average Grant Date Fair Value, Unvested | $ / shares	$ 26.11

Equity (Details) - Schedule o_4

Equity (Details) - Schedule of accumulated other comprehensive income (loss) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (8,846)	$ (7,716)
Other comprehensive income (loss) before reclassifications	322	(910)
Amounts reclassified from accumulated other comprehensive loss	152	(663)
Other comprehensive income (loss)	474	(1,573)
Ending balance	(8,372)	(9,289)
Net Unrealized Gain (Loss) on Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(1,673)	(10)
Other comprehensive income (loss) before reclassifications	2,427	(299)
Amounts reclassified from accumulated other comprehensive loss	152	(663)
Other comprehensive income (loss)	2,579	(962)
Ending balance	906	(972)
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(7,173)	(7,706)
Other comprehensive income (loss) before reclassifications	(2,105)	(611)
Amounts reclassified from accumulated other comprehensive loss
Other comprehensive income (loss)	(2,105)	(611)
Ending balance	$ (9,278)	$ (8,317)