Stratasys (SSYS) 6-K 17 May 22 Condensed Consolidated Interim Financial Statements Financial data

Document And Entity Information

Document And Entity Information	3 Months Ended
	Mar. 31, 2022
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, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity File Number	001-35751
Entity Address, Address Line One	1 Holtzman Street
Entity Address, Address Line Two	Science Park
Entity Address, Address Line Three	P.O. Box 2496
Entity Address, City or Town	Rehovot
Entity Address, Country	IL
Entity Address, Postal Zip Code	76124

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 293,649	$ 243,179
Short-term deposits	182,000	259,000
Accounts receivable, net of allowance for credit losses of $0.7 million and $0.5 million as of March 31, 2022 and December 31, 2021, respectively	136,444	129,382
Inventories	143,116	129,147
Prepaid expenses	8,477	6,871
Other current assets	24,185	33,123
Total current assets	787,871	800,702
Non-current assets
Property, plant and equipment, net	200,627	203,295
Goodwill	65,089	65,144
Other intangible assets, net	143,317	152,244
Operating lease right-of-use assets	14,162	14,651
Long-term investments	28,667	28,667
Other non-current assets	16,651	12,519
Total non-current assets	468,513	476,520
Total assets	1,256,384	1,277,222
Current liabilities
Accounts payable	59,010	51,976
Accrued expenses and other current liabilities	44,198	55,358
Accrued compensation and related benefits	38,341	44,684
Deferred revenues - short term	52,337	51,174
Operating lease liabilities - short term	7,158	7,276
Total current liabilities	201,044	210,468
Non-current liabilities
Deferred revenues - long term	22,026	21,133
Deferred income taxes - long term	6,258	7,341
Operating lease liabilities - long term	7,220	7,693
Contingent consideration - long term	53,648	53,478
Other non-current liabilities	23,487	21,095
Total non-current liabilities	112,639	110,740
Total liabilities	313,683	321,208
Contingencies (see note 12)
Equity
Ordinary shares, NIS 0.01 nominal value, authorized 180,000 thousand shares; 66,408 thousand shares and 65,677 thousand shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	185	182
Additional paid-in capital	3,021,166	3,012,481
Accumulated other comprehensive loss	(9,824)	(8,771)
Accumulated deficit	(2,068,826)	(2,047,878)
Total equity	942,701	956,014
Total liabilities and equity	$ 1,256,384	$ 1,277,222

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parentheticals)	Mar. 31, 2022USD ($)shares	Mar. 31, 2022₪ / shares	Dec. 31, 2021USD ($)shares	Dec. 31, 2021₪ / shares
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance for credit losses (in Dollars) | $	$ 700		$ 500
Ordinary shares, par value (in New Shekels per share) | ₪ / shares		₪ 10		₪ 10
Ordinary shares, authorized	180,000		180,000
Ordinary shares, issued	66,408		65,677
Ordinary shares, outstanding	66,408		65,677

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues
Revenues	$ 163,429	$ 134,189
Cost of revenues
Cost of revenues	93,752	78,612
Gross profit	69,677	55,577
Operating expenses
Research and development, net	23,998	20,601
Selling, general and administrative	65,263	53,334
Total operating expenses	89,261	73,935
Operating loss	(19,584)	(18,358)
Financial expenses, net	(1,362)	(377)
Loss before income taxes	(20,946)	(18,735)
Income tax benefit	73	942
Share in losses of associated companies	(75)	(1,118)
Net loss	$ (20,948)	$ (18,911)
Net loss per share - basic and diluted (in Dollars per share)	$ (0.32)	$ (0.32)
Weighted average ordinary shares outstanding. - basic and diluted (in Shares)	65,721	58,616
Comprehensive loss
Net loss	$ (20,948)	$ (18,911)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(702)	(961)
Unrealized gains on derivatives designated as cash flow hedges	(351)	2,173
Other comprehensive income (loss), net of tax	(1,053)	1,212
Comprehensive loss	(22,001)	(17,699)
Products
Revenues
Revenues	113,073	90,324
Cost of revenues
Cost of revenues	59,373	46,920
Services
Revenues
Revenues	50,356	43,865
Cost of revenues
Cost of revenues	$ 34,379	$ 31,692

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, 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
Balance at Dec. 31, 2021	$ 182	3,012,481	(2,047,878)	(8,771)	956,014
Balance (in Shares) at Dec. 31, 2021	65,677
Issuance of shares in connection with stock-based compensation plans	$ 3	152			155
Issuance of shares in connection with stock-based compensation plans (in Shares)	731
Stock-based compensation		8,533			8,533
Comprehensive income (loss)			(20,948)	(1,053)	(22,001)
Balance at Mar. 31, 2022	$ 185	$ 3,021,166	$ (2,068,826)	$ (9,824)	$ 942,701
Balance (in Shares) at Mar. 31, 2022	66,408

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net loss	$ (20,948)	$ (18,911)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	15,290	13,802
Stock-based compensation	8,533	7,205
Foreign currency transaction loss	2,792	4,181
Share in losses of associated companies	75	1,118
Revaluation of investments	1,061	(3,670)
Other non-cash items, net	83	193
Accounts receivable, net	(7,950)	2,620
Inventories	(14,775)	7,046
Other current assets and prepaid expenses	7,386	(3,775)
Other non-current assets	(85)	1,595
Accounts payable	7,194	10,197
Other current liabilities	(16,037)	6,453
Deferred revenues	2,522	(433)
Deferred income taxes, net and uncertain tax positions	(381)	(1,774)
Other non-current liabilities	(823)	(3,096)
Net cash provided by (used in) operating activities	(16,063)	22,751
Cash flows from investing activities
Cash paid for acquisitions, net of cash acquired		(6,356)
Purchase of property and equipment	(3,741)	(4,012)
Investments in short-term bank deposits	(40,000)	(109,000)
Proceeds from short-term bank deposits	117,000	27,000
Purchase of intangible assets	(444)	(278)
Other investing activities	(47)	(98)
Investments in unconsolidated entities	(5,030)
Net cash provided by (used in) investing activities	67,738	(92,744)
Cash flows from financing activities
Proceeds from public offering, net of issuance costs		218,875
Proceeds from exercise of stock options	155	2,883
Other financing activities	866	407
Net cash provided by financing activities	1,021	222,165
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(2,228)	(2,872)
Net change in cash, cash equivalents and restricted cash	50,468	149,300
Cash, cash equivalents and restricted cash, beginning of period	243,293	272,216
Cash, cash equivalents and restricted cash, end of period	293,761	421,516
Supplemental disclosures of cash flow information:
Transfer of inventory to fixed assets	188	884
Transfer of fixed assets to inventory	120	210
Reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheets:
Cash and cash equivalents	293,649	421,398
Restricted cash included in other current assets	112	118
Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows	$ 293,761	$ 421,516

Business Description and Basis

Business Description and Basis of Presentation	3 Months Ended
	Mar. 31, 2022
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 require 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’s current estimates contemplate current and expected future conditions, as applicable, it is reasonably possible that actual conditions could differ from the Company’s 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 COVID-19 pandemic and/or by macroeconomic conditions that have been triggered as a result of steps taken by governments to counter-act the pandemic. The global economic environment that has set in after the most severe period of the COVID-19 pandemic has passed - assuming that it has passed - remains uncertain, rapidly changing and difficult to predict. The magnitude and duration of, as well as the consequences of, global macroeconomic trends triggered, in large part, by the recovery from the pandemic, such as inflationary pressures and supply chain problems, remain ambiguous currently. As a result, the accounting estimates and assumptions may change over time in response to post-COVID-19 trends. 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, 2022 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, 2021, filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 24, 2022 as part of the Company’s Annual Report on Form 20-F for such year.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements	Note 2. New Accounting Pronouncements Accounting Pronouncements Adopted in 2022 In August 2020, the FASB issued ASU 2020-06 “Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815 – 40).” This guidance simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The amendments to this guidance are effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. The Company adopted this guidance effective January 1, 2022, with no material impact on its consolidated financial statements. Recently issued accounting pronouncements, not yet adopted In October 2021, the FASB issued ASU 2021-08 “Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers”, which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers. The guidance will result in the acquirer recognizing contract assets and contract liabilities at the same amounts recorded by the acquiree. The guidance should be applied prospectively to acquisitions occurring on or after the effective date. The guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted, including in interim periods, for any financial statements that have not yet been issued. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements.

Certain Transactions

Certain Transactions	3 Months Ended
	Mar. 31, 2022
Certain Transactions [Abstract]
Certain Transactions	Note 3. Certain Transactions Investment in Xaar 3D Ltd. ("Xaar 3D") During the fourth quarter of 2019, the Company entered into an agreement with Xaar plc (“Xaar”) to purchase additional shares of Xaar 3D that was to increase its stake from 15 to 45 percent, with Xaar retaining the remaining 55 percent. Xaar and Stratasys had announced the formation of Xaar 3D Ltd in July 2018 for the purpose of developing Powder Bed Fusion (“PBF”) additive manufacturing solutions that Stratasys can bring to the market. In addition, the agreement included an option for Stratasys to acquire the remaining shares of Xaar 3D. Following the additional investment, the Company considered the FASB guidance in accordance with ASC Topic 810 “Consolidation” regarding the propriety of implementing consolidation, for both the variable interest entity and voting model, or equity method accounting. The Company concluded that it should continue accounting for the investment according to the equity method, as it had retained the ability to exercise significant influence but did not control Xaar 3D. For its additional interest in Xaar 3D, the Company paid approximately $15.7 million. The investment was presented under other non-current assets in the Company’s consolidated balance sheets. On November 1, 2021 (the “Xaar 3D transaction date”) , the Company acquired the remaining 55% share of Xaar 3D, for an aggregate purchase price of $29.3 million. The Company paid cash upon closing and it is obligated to make additional earn-out payments and payments of royalties on products and services sales for up to 15 years. The Xaar 3D transaction is reflected in accordance with ASC Topic 805, “Business Combinations”, using the acquisition method of accounting, with the Company as the acquirer. The Company accounted for the acquisition of the remaining equity of Xaar 3D as a step acquisition, which required re-measurement of the Company’s previous ownership interest to fair value prior to completing purchase accounting. Using step acquisition accounting, the Company increased the value of its previously-held equity investment to its fair value of $23.8 million, which resulted in a gain of approximately $14.4 million, recorded in the consolidated statements of operations in the fourth quarter of 2021. The acquisition of the remaining equity interest also resulted in the recognition of a previously unrealized foreign currency gain of $0.6 million, The following table summarizes the fair value of the consideration transferred to Xaar 3D’s stockholders for the Xaar 3D transaction: U.S. $ in thousands Cash payments $ 13,967 Contingent consideration at estimated fair value 15,314 Total consideration for 55% holding 29,281 Fair value of 45% holding 23,775 Total consideration $ 53,056 In accordance with ASC Topic 805, the estimated contingent consideration as of the Xaar 3D transaction date was included in the purchase price. The total contingent payments could reach a maximum aggregate amount of up to $21 million. 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 operating expenses. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the Xaar 3D transaction date. The estimated fair values are preliminary and based on the information that was available as of November 1, 2021. Thus, the measurements of fair value that are reflected are subject to changes, and such changes could be significant. The preliminary allocation of the purchase price to assets acquired and liabilities assumed is as follows: Allocation of Purchase Price (U.S. $ in thousands) Cash and cash equivalents $ 82 Goodwill 25,375 Intangible assets 45,000 Other assets 5,280 Total assets acquired 75,737 Net deferred tax liabilities 1,736 Other labilities 20,945 Total liabilities assumed 22,681 Net assets acquired $ 53,056 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 a loss of $1.1 million for revaluation of an equity investment in the first quarter of 2022 and a gain of $3.7 million in the first quarter of 2021. The entity in which the Company invested has become public during the first quarter of 2021 and accordingly the investment is treated as a marketable equity investment. MakerBot and Ultimaker transaction O n May 12 2022, the company announced the creation of a new company (“the combined company”) comprised of MakerBot and Ultimaker. Under the terms of the The Company will account for the investment, in the combined company according to the equity method in accordance with ASC topic 323, as it has retained the ability to exercise significant influence but does not control the new entity.

Revenues

Revenues	3 Months Ended
	Mar. 31, 2022
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, 2022 and 2021: Three months ended March 31, 2022 2021 (U.S. $ in thousands) Americas Systems $ 28,982 $ 21,357 Consumables 31,354 28,211 Service 38,231 32,545 Total Americas 98,567 82,113 EMEA Systems 15,076 9,698 Consumables 17,825 12,803 Service 7,153 6,417 Total EMEA 40,055 28,918 Asia Pacific Systems 10,458 8,825 Consumables 9,377 9,430 Service 4,972 4,903 Total Asia Pacific 24,807 23,158 Total Revenues $ 163,429 $ 134,189 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, 2022 and 2021: Three months ended March 31, 2022 2021 (U.S. $ in thousands) Revenues recognized in point in time from: Products $ 113,073 $ 90,324 Services 12,492 10,601 Total revenues recognized in point in time 125,565 100,925 Revenues recognized over time from: Services 37,864 33,264 Total revenues recognized over time 37,864 33,264 Total Revenues $ 163,429 $ 134,189 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, 2022 and December 31, 2021. 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 revenue. The Company’s deferred revenue as of March 31, 2022 and December 31, 2021 was as follows: March 31, December 31, 2022 2021 U.S. $ in thousands Deferred revenue* $ 74,363 $ 72,307 *Includes $22.0 million and $21.1 million under long term deferred revenue in the Company's consolidated balance sheets as of March 31, 2022 and December 31, 2021, respectively. Revenue recognized in 2022 that was included in deferred revenue balance as of December 31, 2021 was $17.6 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, 2022 and December 31, 2021, the deferred commissions amounted to $7.9 million and $7.4 million, respectively.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventories	Note 5. Inventories Inventories consisted of the following: March 31, December 31, 2022 2021 U.S. $ in thousands Finished goods $ 65,270 $ 58,784 Work-in-process 4,461 4,360 Raw materials 73,385 66,003 $ 143,116 $ 129,147

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2022
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 during the three months ended March 31, 2022 were as follows: U.S. $ in thousands Goodwill as of January 1, 2022 $ 65,144 Foreign currency translation adjustments (55) Goodwill as of March 31, 2022 $ 65,089 Other Intangible Assets Other intangible assets consisted of the following: March 31, 2022 December 31, 2021 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 $ 406,371 $ (285,972 ) $ 120,399 $ 406,578 $ (279,037 ) $ 127,541 Patents 16,655 (8,823 ) 7,832 16,220 (8,503 ) 7,717 Trademarks and trade names 26,062 (22,522 ) 3,540 26,055 (22,241 ) 3,814 Customer relationships 100,619 (89,073 ) 11,546 100,731 (87,559 ) 13,172 Capitalized software development costs 7,066 (7,066 ) - 7,410 (7,410 ) - $ 556,773 $ (413,456 ) $ 143,317 $ 556,994 $ (404,750 ) $ 152,244 Amortization expenses relating to intangible assets for the three-month period ended March 31, 2022 and 2021 were approximately $9.2 million and $7.5 million, respectively. As of March 31, 2022, 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 2022 $ 27,706 2023 22,164 2024 18,256 2025 15,662 2026 15,591 2027 and thereafter 43,938 Total $ 143,317

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2022
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, 2022 and 2021: Three Months Ended March 31, 2022 2021 (In thousands, except per share amounts) Numerator: Net loss for basic and diluted loss per share $ (20,948 ) $ (18,911 ) Denominator: Weighted average shares - for basic and diluted net loss per share 65,721 58,616 Net loss per share Basic and diluted $ (0.32 ) $ (0.32 ) The computation of diluted net loss per share excluded share awards of 5.4 million shares fo because the inclusion of those shares would have had an anti-dilutive effect on the diluted net loss per share.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Note 8. Income Taxes The Company had income tax benefit of $0.1 million for the three-month period ended March 31, 2022 compared to income tax benefit of $0.9 million for the three-month period ended March 31, 2021. The Company’s effective tax rate as of March 31, 2022 was primarily impacted by the geographic mix of its earnings and losses, as well as its valuation allowance.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 9. Fair Value Measurements 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, 2022 December 31, 2021 Level 2 Level 3 Level 2 Level 3 (U.S. $ in thousands) Assets: Foreign exchange forward contracts not designated as hedging instruments $ 41 - $ 82 - Foreign exchange forward contracts designated as hedging instruments 981 - 910 - Liabilities: Foreign exchange forward contracts not designated as hedging instruments (90 ) - (89 ) - Foreign exchange forward contracts designated as hedging instruments (32 ) - (60 ) - Total contingent consideration* - 56,050 - 55,919 $ 900 $ 56,050 $ 843 $ 55,919 *Includes $2.4 million under Accrued expenses and other current liabilities in the Company's consolidated balance sheets as of March 31, 2022 and December 31, 2021. 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, 2022
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 2022. 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 2022 2021 2022 2021 U.S. $ in thousands Assets derivatives -Foreign exchange contracts, not designated as hedging instruments Other current assets $ 41 $ 82 $ 15,343 $ 12,380 Assets derivatives -Foreign exchange contracts, designated as cash flow hedge Other current assets 981 910 72,758 60,408 Liability derivatives -Foreign exchange contracts, not designated as hedging instruments Accrued expenses and other current liabilities (90 ) (89 ) 26,852 33,047 Liability derivatives -Foreign exchange contracts, designated as hedging instruments Accrued expenses and other current liabilities (32 ) (60 ) 10,355 26,320 $ 900 $ 843 $ 125,309 $ 132,155 Foreign exchange contracts not designated as hedging instruments As of March 31, 2022, the notional amounts of the Company’s outstanding exchange forward contracts, not designated as hedging instruments, were $42.2 million, and were used to reduce foreign currency exposures. With respect to such derivatives, gains of $0.7 million and of $2.2 million Cash Flow Hedging - Hedges of forecasted foreign currency payroll and other operating expenses As of March 31, 2022, the Company had in effect foreign exchange forward contracts, designated as cash flow hedges for accounting purposes, for the conversion of $42.0 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, 2022, the Company had in effect foreign exchange forward contracts, designated as cash flow hedges for accounting purposes, for the conversion of 41.1 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, 2022
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, 2022 2021 U.S $ in thousands Cost of sales $ 900 $ 634 Research and development, net 1,786 1,424 Selling, general and administrative 5,847 5,147 Total stock-based compensation expenses $ 8,533 $ 7,205 A summary of the Company’s stock option activity for the three months ended March 31, 2022 is as follows: Number of Options Weighted Average Exercise Price Options outstanding as of January 1, 2022 $ 1,732,368 $ 28.85 Granted - - Exercised (12,829 ) 12.02 Forfeited (13,605 ) 25.11 Options outstanding as of March 31, 2022 1,705,934 29.01 Options exercisable as of March 31, 2022 $ 1,374,696 $ 32.04 As of March 31, 2022, the unrecognized compensation cost of $2.1 million related to all unvested, equity-classified stock options is expected to be recognized as an expense over a weighted-average period of 2.7 years. A summary of the Company’s RSUs and PSUs activity for the three months ended March 31, 2022 is as follows: Number of RSUs and PSUs Weighted Average Grant Date Fair Value Unvested as of January 1, 2022 $ 3,082,798 $ 26.36 Granted 1,377,792 22.13 Vested (721,316 ) 27.30 Forfeited (68,830 ) 26.87 Unvested as of March 31, 2022 $ 3,670,444 $ 24.58 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, 2022, the unrecognized compensation cost of $75 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, 2022 and 2021, respectively: Three Months Ended March 31, 2022 Net Unrealized Gain (Loss) on Cash Flow Hedges Foreign Currency Translation Adjustments Total U.S. $ in thousands Balance as of January 1, 2022 $ 1,572 $ (10,343 ) $ (8,771 ) Other comprehensive income (loss) before reclassifications 271 (702 ) (431 ) Amounts reclassified from accumulated other comprehensive loss (622 ) - (622 ) Other comprehensive income (loss) (351 ) (702 ) (1,053 ) Balance as of March 31, 2022 $ 1,221 $ (11,045 ) $ (9,824 ) 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, 2021 $ 500 $ (8,134 ) $ (7,634 ) 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, 2022
Loss Contingency [Abstract]
Contingencies	Note 12. Contingencies During the fourth quarter of 2021, the Company reached preliminary settlement on an employee-related litigation matter in the US. The financial statements for the period ended March 31, 2022 and the year ended December 31, 2021 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)	3 Months Ended
	Mar. 31, 2022
Certain Transactions [Abstract]
Schedule of fair value of the consideration transferred to xaar 3D’s stockholders for the xaar 3D transaction	U.S. $ in thousands Cash payments $ 13,967 Contingent consideration at estimated fair value 15,314 Total consideration for 55% holding 29,281 Fair value of 45% holding 23,775 Total consideration $ 53,056
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 $ 82 Goodwill 25,375 Intangible assets 45,000 Other assets 5,280 Total assets acquired 75,737 Net deferred tax liabilities 1,736 Other labilities 20,945 Total liabilities assumed 22,681 Net assets acquired $ 53,056

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Schedule of disaggregated by geographical region	Three months ended March 31, 2022 2021 (U.S. $ in thousands) Americas Systems $ 28,982 $ 21,357 Consumables 31,354 28,211 Service 38,231 32,545 Total Americas 98,567 82,113 EMEA Systems 15,076 9,698 Consumables 17,825 12,803 Service 7,153 6,417 Total EMEA 40,055 28,918 Asia Pacific Systems 10,458 8,825 Consumables 9,377 9,430 Service 4,972 4,903 Total Asia Pacific 24,807 23,158 Total Revenues $ 163,429 $ 134,189
Schedule of revenue recognition	Three months ended March 31, 2022 2021 (U.S. $ in thousands) Revenues recognized in point in time from: Products $ 113,073 $ 90,324 Services 12,492 10,601 Total revenues recognized in point in time 125,565 100,925 Revenues recognized over time from: Services 37,864 33,264 Total revenues recognized over time 37,864 33,264 Total Revenues $ 163,429 $ 134,189
Schedule of changes in deferred revenue	March 31, December 31, 2022 2021 U.S. $ in thousands Deferred revenue* $ 74,363 $ 72,307

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Schedule of inventories	March 31, December 31, 2022 2021 U.S. $ in thousands Finished goods $ 65,270 $ 58,784 Work-in-process 4,461 4,360 Raw materials 73,385 66,003 $ 143,116 $ 129,147

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying amount of goodwill	U.S. $ in thousands Goodwill as of January 1, 2022 $ 65,144 Foreign currency translation adjustments (55) Goodwill as of March 31, 2022 $ 65,089
Schedule of other intangible assets	March 31, 2022 December 31, 2021 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 $ 406,371 $ (285,972 ) $ 120,399 $ 406,578 $ (279,037 ) $ 127,541 Patents 16,655 (8,823 ) 7,832 16,220 (8,503 ) 7,717 Trademarks and trade names 26,062 (22,522 ) 3,540 26,055 (22,241 ) 3,814 Customer relationships 100,619 (89,073 ) 11,546 100,731 (87,559 ) 13,172 Capitalized software development costs 7,066 (7,066 ) - 7,410 (7,410 ) - $ 556,773 $ (413,456 ) $ 143,317 $ 556,994 $ (404,750 ) $ 152,244
Schedule of estimated amortization expense relating to intangible assets	Estimated amortization expense (U.S. $ in thousands) Remaining 9 months of 2022 $ 27,706 2023 22,164 2024 18,256 2025 15,662 2026 15,591 2027 and thereafter 43,938 Total $ 143,317

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of basic and diluted loss per share	Three Months Ended March 31, 2022 2021 (In thousands, except per share amounts) Numerator: Net loss for basic and diluted loss per share $ (20,948 ) $ (18,911 ) Denominator: Weighted average shares - for basic and diluted net loss per share 65,721 58,616 Net loss per share Basic and diluted $ (0.32 ) $ (0.32 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities carried at fair value on a recurring basis	March 31, 2022 December 31, 2021 Level 2 Level 3 Level 2 Level 3 (U.S. $ in thousands) Assets: Foreign exchange forward contracts not designated as hedging instruments $ 41 - $ 82 - Foreign exchange forward contracts designated as hedging instruments 981 - 910 - Liabilities: Foreign exchange forward contracts not designated as hedging instruments (90 ) - (89 ) - Foreign exchange forward contracts designated as hedging instruments (32 ) - (60 ) - Total contingent consideration* - 56,050 - 55,919 $ 900 $ 56,050 $ 843 $ 55,919

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2022
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 2022 2021 2022 2021 U.S. $ in thousands Assets derivatives -Foreign exchange contracts, not designated as hedging instruments Other current assets $ 41 $ 82 $ 15,343 $ 12,380 Assets derivatives -Foreign exchange contracts, designated as cash flow hedge Other current assets 981 910 72,758 60,408 Liability derivatives -Foreign exchange contracts, not designated as hedging instruments Accrued expenses and other current liabilities (90 ) (89 ) 26,852 33,047 Liability derivatives -Foreign exchange contracts, designated as hedging instruments Accrued expenses and other current liabilities (32 ) (60 ) 10,355 26,320 $ 900 $ 843 $ 125,309 $ 132,155

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Schedule of stock-based compensation expenses	Three Months Ended March 31, 2022 2021 U.S $ in thousands Cost of sales $ 900 $ 634 Research and development, net 1,786 1,424 Selling, general and administrative 5,847 5,147 Total stock-based compensation expenses $ 8,533 $ 7,205
Schedule of stock option activity	Number of Options Weighted Average Exercise Price Options outstanding as of January 1, 2022 $ 1,732,368 $ 28.85 Granted - - Exercised (12,829 ) 12.02 Forfeited (13,605 ) 25.11 Options outstanding as of March 31, 2022 1,705,934 29.01 Options exercisable as of March 31, 2022 $ 1,374,696 $ 32.04
Schedule of RSUs and PSUs activity	Number of RSUs and PSUs Weighted Average Grant Date Fair Value Unvested as of January 1, 2022 $ 3,082,798 $ 26.36 Granted 1,377,792 22.13 Vested (721,316 ) 27.30 Forfeited (68,830 ) 26.87 Unvested as of March 31, 2022 $ 3,670,444 $ 24.58
Schedule of accumulated other comprehensive income (loss)	Three Months Ended March 31, 2022 Net Unrealized Gain (Loss) on Cash Flow Hedges Foreign Currency Translation Adjustments Total U.S. $ in thousands Balance as of January 1, 2022 $ 1,572 $ (10,343 ) $ (8,771 ) Other comprehensive income (loss) before reclassifications 271 (702 ) (431 ) Amounts reclassified from accumulated other comprehensive loss (622 ) - (622 ) Other comprehensive income (loss) (351 ) (702 ) (1,053 ) Balance as of March 31, 2022 $ 1,221 $ (11,045 ) $ (9,824 ) 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, 2021 $ 500 $ (8,134 ) $ (7,634 )

Business Description and Basi_2

Business Description and Basis of Presentation (Details)	3 Months Ended
	Mar. 31, 2022
Business Combination [Member]
Business Description and Basis of Presentation (Details) [Line Items]
Business acquisition, description	The Company’s approximately 1,700 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	May 12, 2022	Feb. 16, 2022	Nov. 01, 2021	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2019
Certain Transactions (Details) [Line Items]
Aggregate purchase price			$ 29.3
Additional earn-out payment			15 years
Fair value					$ 23.8
Gain					$ 14.4
Changes in fair value of equity investment				$ 0.6
Total contingent payments aggregate amount				21
Exchange for outstanding shares, percentage		100.00%
Based earn-outs over term		2 years
Gain and loss equity investment				1.1		$ 3.7
Xaar 3D [Member]
Certain Transactions (Details) [Line Items]
Investment, description							During the fourth quarter of 2019, the Company entered into an agreement with Xaar plc (“Xaar”) to purchase additional shares of Xaar 3D that was to increase its stake from 15 to 45 percent, with Xaar retaining the remaining 55 percent.
Additional interest amount				$ 15.7
Remaining acquire share, percentage			55.00%
MakerBot [Member]
Certain Transactions (Details) [Line Items]
Revaluation of an equity investment	$ 47
Equity maethod ownership percentage	45.60%
NPM Capital [Member]
Certain Transactions (Details) [Line Items]
Revaluation of an equity investment	$ 15.4
Equity maethod ownership percentage				54.40%

Certain Transactions (Details)

Certain Transactions (Details) - Schedule of fair value of the consideration transferred to xaar 3D’s stockholders for the xaar 3D transaction - Xaar 3D [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items]
Cash payments	$ 13,967
Contingent consideration at estimated fair value	15,314
Total consideration for 55% holding	29,281
Fair value of 45% holding	23,775
Total consideration	$ 53,056

Certain Transactions (Details_2

Certain Transactions (Details) - Schedule of fair value of the consideration transferred to xaar 3D’s stockholders for the xaar 3D transaction (Parentheticals) - Xaar 3D [Member]	3 Months Ended
	Mar. 31, 2022
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items]
Consideration rate	55.00%
Fair value rate	45.00%

Certain Transactions (Details_3

Certain Transactions (Details) - Schedule of preliminary allocation of the purchase price to assets acquired and liabilities $ in Thousands	Mar. 31, 2022USD ($)
Schedule of preliminary allocation of the purchase price to assets acquired and liabilities [Abstract]
Cash and cash equivalents	$ 82
Goodwill	25,375
Intangible assets	45,000
Other assets	5,280
Total assets acquired	75,737
Net deferred tax liabilities	1,736
Other labilities	20,945
Total liabilities assumed	22,681
Net assets acquired	$ 53,056

Revenues (Details)

Revenues (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Revenue Recognition [Abstract]
Long term deferred revenue	$ 22	$ 21.1
Revenue recognized	17.6	17.6
Remaining performance obligations	126
Expected remaining performance obligations recognized during next 12 months	96.3
Expected remaining performance obligations recognized over subsequent 12 months	18.3
Expected remaining performance obligations recognized remainder thereafter	11.4
Deferred sales commissions	$ 7.9	$ 7.4

Revenues (Details) - Schedule o

Revenues (Details) - Schedule of disaggregated by geographical region - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	$ 163,429	$ 134,189
Total Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	98,567	82,113
Total EMEA [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	40,055	28,918
Total Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	24,807	23,158
Systems [Member] | Total Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	28,982	21,357
Systems [Member] | Total EMEA [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	15,076	9,698
Systems [Member] | Total Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	10,458	8,825
Consumables [Member] | Total Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	31,354	28,211
Consumables [Member] | Total EMEA [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	17,825	12,803
Consumables [Member] | Total Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	9,377	9,430
Service [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	50,356	43,865
Service [Member] | Total Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	38,231	32,545
Service [Member] | Total EMEA [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	7,153	6,417
Service [Member] | Total Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	$ 4,972	$ 4,903

Revenues (Details) - Schedule_2

Revenues (Details) - Schedule of revenue recognition - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues (Details) - Schedule of revenue recognition [Line Items]
Total Revenues	$ 163,429	$ 134,189
Total revenues recognized in point in time [Member]
Revenues (Details) - Schedule of revenue recognition [Line Items]
Total Revenues	125,565	100,925
Total revenues recognized over time [Member]
Revenues (Details) - Schedule of revenue recognition [Line Items]
Total Revenues	37,864	33,264
Products [Member]
Revenues (Details) - Schedule of revenue recognition [Line Items]
Total Revenues	113,073	90,324
Products [Member] | Total revenues recognized in point in time [Member]
Revenues (Details) - Schedule of revenue recognition [Line Items]
Total Revenues	113,073	90,324
Services [Member]
Revenues (Details) - Schedule of revenue recognition [Line Items]
Total Revenues	50,356	43,865
Services [Member] | Total revenues recognized in point in time [Member]
Revenues (Details) - Schedule of revenue recognition [Line Items]
Total Revenues	12,492	10,601
Services [Member] | Total revenues recognized over time [Member]
Revenues (Details) - Schedule of revenue recognition [Line Items]
Total Revenues	$ 37,864	$ 33,264

Revenues (Details) - Schedule_3

Revenues (Details) - Schedule of changes in deferred revenue - USD ($) $ in Thousands		Mar. 31, 2022	Dec. 31, 2021
Schedule of changes in deferred revenue [Abstract]
Deferred revenue	[1]	$ 74,363	$ 72,307
[1]	*Includes $22.0 million and $21.1 million under long term deferred revenue in the Company's consolidated balance sheets as of March 31, 2022 and December 31, 2021, respectively.

Inventories (Details) - Schedul

Inventories (Details) - Schedule of inventories - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Schedule of inventories [Abstract]
Finished goods	$ 65,270	$ 58,784
Work-in-process	4,461	4,360
Raw materials	73,385	66,003
Total Inventory	$ 143,116	$ 129,147

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 9.2	$ 7.5

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Details) - Schedule of changes in the carrying amount of goodwill - Goodwill [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Goodwill [Line Items]
Goodwill as of January 1, 2022	$ 65,144
Foreign currency translation adjustments	(55)
Goodwill as of March 31, 2022	$ 65,089

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	$ 556,773	$ 556,994
Accumulated Amortization	(413,456)	(404,750)
Net Book Value	143,317	152,244
Developed technology [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	406,371	406,578
Accumulated Amortization	(285,972)	(279,037)
Net Book Value	120,399	127,541
Patents [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	16,655	16,220
Accumulated Amortization	(8,823)	(8,503)
Net Book Value	7,832	7,717
Trademarks and trade names [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	26,062	26,055
Accumulated Amortization	(22,522)	(22,241)
Net Book Value	3,540	3,814
Customer relationships [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	100,619	100,731
Accumulated Amortization	(89,073)	(87,559)
Net Book Value	11,546	13,172
Capitalized software development costs [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	7,066	7,410
Accumulated Amortization	(7,066)	$ (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, 2022USD ($)
Schedule of estimated amortization expense relating to intangible assets [Abstract]
Remaining 9 months of 2022	$ 27,706
2023	22,164
2024	18,256
2025	15,662
2026	15,591
2027 and thereafter	43,938
Total	$ 143,317

Net Loss Per Share (Details)

Net Loss Per Share (Details) shares in Millions	3 Months Ended
	Mar. 31, 2022shares
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of net loss per share	5.4

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, 2022	Mar. 31, 2021
Numerator:
Net loss for basic and diluted loss per share	$ (20,948)	$ (18,911)
Denominator:
Weighted average shares - for basic and diluted net loss per share	65,721	58,616
Net loss per share
Basic and diluted	$ (0.32)	$ (0.32)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income tax expense benefits	$ 0.1	$ 0.9

Fair Value Measurements (Detail

Fair Value Measurements (Details) $ in Millions	Mar. 31, 2022USD ($)
Fair Value Disclosures [Abstract]
Accrued expenses and other current liabilities	$ 2.4

Fair Value Measurements (Deta_2

Fair Value Measurements (Details) - Schedule of assets and liabilities carried at fair value on a recurring basis - USD ($) $ in Thousands		Mar. 31, 2022	Dec. 31, 2021
Fair Value, Inputs, Level 2 [Member]
Assets:
Foreign exchange forward contracts not designated as hedging instruments		$ 41	$ 82
Foreign exchange forward contracts designated as hedging instruments		981	910
Liabilities:
Foreign exchange forward contracts not designated as hedging instruments		(90)	(89)
Foreign exchange forward contracts designated as hedging instruments		(32)	(60)
Total contingent consideration	[1]
Foreign exchange forward contracts fair value		900	843
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
Total contingent consideration	[1]	56,050	55,919
Foreign exchange forward contracts fair value		$ 56,050	$ 55,919
[1]	Includes $2.4 million under Accrued expenses and other current liabilities in the Company's consolidated balance sheets as of March 31, 2022 and December 31, 2021.

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities (Details) € in Millions, ₪ in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2022ILS (₪)	Mar. 31, 2022EUR (€)
Derivative Instruments and Hedging Activities (Details) [Line Items]
Notional amount of derivative asset	$ 42.2
Gain (Loss) on derivative instrument	$ 0.7	$ 2.2
Conversion To NIS [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities (Details) [Line Items]
Notional amount of derivative asset | ₪			₪ 42
Conversion To Euro [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities (Details) [Line Items]
Notional amount of derivative asset | €				€ 41.1

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, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Fair value	$ 900	$ 843
Notional amount	125,309	132,155
Foreign exchange contracts [Member] | Other current assets [Member] | Not designated as hedging instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative asset	41	82
Notional amount of derivative asset	15,343	12,380
Foreign exchange contracts [Member] | Other current assets [Member] | Designated as hedging instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative asset	981	910
Notional amount of derivative asset	72,758	60,408
Foreign exchange contracts [Member] | Accrued expenses and other current liabilities [Member] | Not designated as hedging instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative liability	(90)	(89)
Notional amount of derivative liability	26,852	33,047
Foreign exchange contracts [Member] | Accrued expenses and other current liabilities [Member] | Designated as hedging instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative liability	(32)	(60)
Notional amount of derivative liability	$ 10,355	$ 26,320

Equity (Details)

Equity (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Equity (Details) [Line Items]
Public offering of ordinary shares, net		$ 218.9
Deferred tax asset	$ 1.2
Stock Option [Member]
Equity (Details) [Line Items]
Unrecognized compensation cost	$ 2.1
Weighted-average period	2 years 8 months 12 days
RSUs and PSUs [Member]
Equity (Details) [Line Items]
Unrecognized compensation cost	$ 75
Weighted-average period	2 years 8 months 12 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
	Mar. 31, 2022	Mar. 31, 2021
Cost of sales [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	$ 900	$ 634
Research and development, net [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	1,786	1,424
Selling, general and administrative [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	5,847	5,147
Total stock-based compensation expenses [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	$ 8,533	$ 7,205

Equity (Details) - Schedule o_2

Equity (Details) - Schedule of stock option activity	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Stockholders' Equity Note [Abstract]
Number of Options, Options outstanding | shares	1,732,368
Weighted Average Exercise Price, Options outstanding | $ / shares	$ 28.85
Number of Options, Granted | shares
Weighted Average Exercise Price, Granted | $ / shares
Number of Options, Exercised | shares	(12,829)
Weighted Average Exercise Price, Exercised | $ / shares	$ 12.02
Number of Options, Forfeited | shares	(13,605)
Weighted Average Exercise Price, Forfeited | $ / shares	$ 25.11
Number of Options, Options outstanding | shares	1,705,934
Weighted Average Exercise Price, Options outstanding | $ / shares	$ 29.01
Number of Options, Options exercisable | shares	1,374,696
Weighted Average Exercise Price, Options exercisable | $ / shares	$ 32.04

Equity (Details) - Schedule o_3

Equity (Details) - Schedule of RSUs and PSUs activity - Restricted and Phantom Share Units [Member]	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Equity (Details) - Schedule of RSUs and PSUs activity [Line Items]
Number of RSUs and PSUs, Unvested | shares	3,082,798
Weighted Average Grant Date Fair Value, Unvested | $ / shares	$ 26.36
Number of RSUs and PSUs, Granted | shares	1,377,792
Weighted Average Grant Date Fair Value, Granted | $ / shares	$ 22.13
Number of RSUs and PSUs, Vested | shares	(721,316)
Weighted Average Grant Date Fair Value, Vested | $ / shares	$ 27.3
Number of RSUs and PSUs, Forfeited | shares	(68,830)
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	$ 26.87
Number of RSUs and PSUs, Unvested | shares	3,670,444
Weighted Average Grant Date Fair Value, Unvested | $ / shares	$ 24.58

Equity (Details) - Schedule o_4

Equity (Details) - Schedule of accumulated other comprehensive income (loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (8,771)	$ (8,846)
Other comprehensive income (loss) before reclassifications	(431)	646
Amounts reclassified from accumulated other comprehensive loss	(622)	566
Other comprehensive income (loss)	(1,053)	1,212
Ending balance	(9,824)	(7,634)
Net Unrealized Gain (Loss) on Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	1,572	(1,673)
Other comprehensive income (loss) before reclassifications	271	1,607
Amounts reclassified from accumulated other comprehensive loss	(622)	566
Other comprehensive income (loss)	(351)	2,173
Ending balance	1,221	500
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(10,343)	(7,173)
Other comprehensive income (loss) before reclassifications	(702)	(961)
Amounts reclassified from accumulated other comprehensive loss
Other comprehensive income (loss)	(702)	(961)
Ending balance	$ (11,045)	$ (8,134)