Stratasys (SSYS) 6-K 10 Nov 22 Condensed Consolidated Interim Financial Statements Financial data

Document And Entity Information

Document And Entity Information	9 Months Ended
	Sep. 30, 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	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
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	Sep. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 150,672	$ 243,179
Short-term deposits	198,056	259,000
Accounts receivable, net of allowance for credit losses of $0.7 million and $0.5 million as of September 30, 2022 and December 31, 2021	140,258	129,382
Inventories	170,434	129,147
Prepaid expenses	8,146	6,871
Other current assets	26,838	33,123
Total current assets	694,404	800,702
Non-current assets
Property, plant and equipment, net	194,214	203,295
Goodwill	64,844	65,144
Other intangible assets, net	129,682	152,244
Operating lease right-of-use assets	19,010	14,651
Long-term investments	143,928	28,667
Other non-current assets	21,309	12,519
Total non-current assets	572,987	476,520
Total assets	1,267,391	1,277,222
Current liabilities
Accounts payable	67,957	51,976
Accrued expenses and other current liabilities	55,152	55,358
Accrued compensation and related benefits	34,862	44,684
Deferred revenues - short term	48,735	51,174
Operating lease liabilities - short term	6,977	7,276
Total current liabilities	213,683	210,468
Non-current liabilities
Deferred revenues - long term	23,581	21,133
Deferred income taxes - long term	4,084	7,341
Operating lease liabilities - long term	11,738	7,693
Contingent consideration - long term	38,551	53,478
Other non-current liabilities	27,028	21,095
Total non-current liabilities	104,982	110,740
Total liabilities	318,665	321,208
Contingencies (see note 12)
Equity
Ordinary shares, NIS 0.01 nominal value, authorized 180,000 thousand shares; 66,784 thousand shares and 65,677 thousand shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	186	182
Additional paid-in capital	3,037,225	3,012,481
Accumulated other comprehensive loss	(14,223)	(8,771)
Accumulated deficit	(2,074,462)	(2,047,878)
Total equity	948,726	956,014
Total liabilities and equity	$ 1,267,391	$ 1,277,222

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parentheticals) $ in Millions	Sep. 30, 2022 USD ($) shares	Sep. 30, 2022 ₪ / shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2021 ₪ / shares
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance for credit losses (in Dollars) | $	$ 0.7		$ 0.5
Ordinary shares, par value (in New Shekels per share) | ₪ / shares		₪ 10		₪ 10
Ordinary shares, authorized	180,000		180,000
Ordinary shares, issued	66,784		65,677
Ordinary shares, outstanding	66,784		65,677

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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues
Revenues	$ 162,192	$ 159,009	$ 492,224	$ 440,203
Cost of revenues
Cost of revenues	91,443	90,821	284,405	253,168
Gross profit	70,749	68,188	207,819	187,035
Operating expenses
Research and development, net	23,145	22,645	71,489	65,683
Selling, general and administrative	63,230	67,462	195,085	184,353
Total operating expenses	86,375	90,107	266,574	250,036
Operating loss	(15,626)	(21,919)	(58,755)	(63,001)
Gain from deconsolidation of subsidiary	39,136		39,136
Financial income (expense), net	452	(634)	(2,080)	(1,383)
Income (loss) before income taxes	23,962	(22,553)	(21,699)	(64,384)
Income tax expense (benefit)	3,298	(699)	2,796	6,009
Share in profit (losses) of associated companies	(1,915)	3,778	(2,089)	1,229
Net income (loss)	$ 18,749	$ (18,076)	$ (26,584)	$ (57,146)
Net income (loss) per share - basic and diluted (in Dollars per share)	$ 0.28	$ (0.28)	$ (0.4)	$ (0.91)
Weighted average ordinary shares outstanding - basic (in Shares)	66,772	65,018	66,356	62,888
Weighted average ordinary shares outstanding - diluted (in Shares)	67,038	65,018	66,356	62,888
Comprehensive income (loss)
Net income (loss)	$ 18,749	$ (18,076)	$ (26,584)	$ (57,146)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(1,598)	(2,247)	(5,089)	(2,105)
Unrealized gains (losses) on derivatives designated as cash flow hedges	729	578	(363)	2,579
Other comprehensive income (loss), net of tax	(869)	(1,669)	(5,452)	474
Comprehensive income (loss)	17,880	(19,745)	(32,036)	(56,672)
Products
Revenues
Revenues	112,133	108,888	340,927	299,517
Cost of revenues
Cost of revenues	55,916	54,820	176,421	151,471
Services
Revenues
Revenues	50,059	50,121	151,297	140,686
Cost of revenues
Cost of revenues	$ 35,527	$ 36,001	$ 107,984	$ 101,697

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
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
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
Issuance of shares in connection with stock-based compensation plans	$ 1	91			92
Issuance of shares in connection with stock-based compensation plans (in Shares)	336
Stock-based compensation		8,831			8,831
Comprehensive income (loss)			(24,385)	(3,530)	(27,915)
Balance at Jun. 30, 2022	$ 186	3,030,088	(2,093,211)	(13,354)	923,709
Balance (in Shares) at Jun. 30, 2022	66,744
Issuance of shares in connection with stock-based compensation plans		13			13
Issuance of shares in connection with stock-based compensation plans (in Shares)	40
Stock-based compensation		7,391			7,391
Other items		(267)			(267)
Comprehensive income (loss)			18,749	(869)	17,880
Balance at Sep. 30, 2022	$ 186	$ 3,037,225	$ (2,074,462)	$ (14,223)	$ 948,726
Balance (in Shares) at Sep. 30, 2022	66,784

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities
Net loss	$ (26,584)	$ (57,146)
Adjustments to reconcile net loss to net cash provided by operating activities:
Impairment of other long-lived assets	3,865	1,944
Depreciation and amortization	44,451	41,412
Stock-based compensation	24,755	23,140
Foreign currency transaction loss	13,978	4,210
Gain from deconsolidation of subsidiary	(39,136)
Share in loss of associated companies	2,089	(1,229)
Revaluation of investments	3,217	556
Other non-cash items, net	826	364
Change in cash attributable to changes in operating assets and liabilities:
Accounts receivable, net	(21,832)	(17,023)
Inventories	(64,286)	8,271
Other current assets and prepaid expenses	3,898	(11,911)
Other non-current assets	(17,003)	3,834
Accounts payable	17,286	29,204
Other current liabilities	2,013	14,047
Deferred revenues	4,860	3,470
Deferred income taxes, net and uncertain tax positions	(301)	(6,677)
Other non-current liabilities	(9,385)	(5,070)
Net cash provided by (used in) operating activities	(57,289)	31,396
Cash flows from investing activities
Cash paid for acquisitions, net of cash acquired		(6,669)
Purchase of property and equipment	(11,761)	(16,193)
Investments in short-term bank deposits	(307,485)	(249,000)
Proceeds from short-term bank deposits	368,429	89,000
Purchase of intangible assets	(5,980)	(1,219)
Other investing activities	84	(85)
Investments in unconsolidated entities	(67,274)	(7,000)
Net cash used in investing activities	(23,987)	(191,166)
Cash flows from financing activities
Proceeds from public offering, net of issuance costs		218,850
Proceeds from exercise of stock options	260	3,699
Payment of contingent consideration	(1,386)
Other financing activities	(281)	406
Net cash provided by (used in) financing activities	(1,407)	222,955
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(9,787)	(2,413)
Net change in cash, cash equivalents and restricted cash	(92,470)	60,772
Cash, cash equivalents and restricted cash, beginning of period	243,293	272,216
Cash, cash equivalents and restricted cash, end of period	150,823	332,988
Supplemental disclosures of cash flow information:
Transfer of inventory to fixed assets	6,306	2,760
Transfer of fixed assets to inventory	123	844
Reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheets:
Cash and cash equivalents	150,672	332,871
Restricted cash included in other current assets	151	117
Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows	$ 150,823	$ 332,988

Business Description and Basis

Business Description and Basis of Presentation	9 Months Ended
	Sep. 30, 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 results of operations for the three and nine months ended September 30, 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 Company’s 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	9 Months Ended
	Sep. 30, 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 Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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 Accounting Standards Codification (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	9 Months Ended
	Sep. 30, 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 would 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 losses for the revaluation of an equity investment, in amounts of $0.9 million and $2.0 million in the three-month periods ended September 30, 2022 and 2021, respectively. A loss of $3.2 million and a loss of $1.2 million were recognized in the nine-month periods ended September 30, 2022 and 2021, respectively. The entity in which the Company invested became public during the first quarter of 2021 and accordingly the investment is treated as a marketable equity investment. Prior to the first quarter of 2021, the investment was treated as a non-marketable equity investment without readily determinable fair value. MakerBot and Ultimaker transaction On The Company accounts for its 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. the Company recognized an equity method investment in a total amount of $105.6 million, representing a share of 46.5% in the new entity. Covestro acquisition On August 8, 2022, the Company announced it has signed a definitive agreement to acquire the additive manufacturing materials business of Covestro AG. The acquisition is expected to close during the first quarter of 2023. The purchase price is approximately $42.3 million (43 million euros), plus additional inventory, less certain liabilities. In addition, there is a potential earnout payment of up to $36.4 million (37 million euros), subject to the achievement of various performance metrics.

Revenues

Revenues	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2022 and 2021: Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 (U.S. $ in thousands) (U.S. $ in thousands) Americas Systems $ 34,869 $ 34,136 $ 96,719 $ 82,546 Consumables 33,303 31,474 99,319 90,415 Service 39,281 37,962 117,207 105,673 Total Americas 107,453 103,572 313,245 278,634 EMEA Systems 11,811 10,214 41,648 30,393 Consumables 13,666 16,682 45,759 44,830 Service 5,983 7,165 19,320 20,279 Total EMEA 31,460 34,061 106,727 95,502 Asia Pacific Systems 9,626 7,926 31,319 24,781 Consumables 8,861 8,456 26,166 26,552 Service 4,792 4,994 14,767 14,734 Total Asia Pacific 23,279 21,376 72,252 66,067 Total Revenues $ 162,192 $ 159,009 $ 492,224 $ 440,203 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, 2022 and 2021: Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 (U.S. $ in thousands) (U.S. $ in thousands) Revenues recognized at point in time from: Products $ 112,133 $ 108,888 $ 340,927 $ 299,517 Services 13,519 12,056 39,158 33,781 Total revenues recognized at point in time 125,652 120,944 380,085 333,298 Revenues recognized over time from: Services 36,540 38,065 112,139 106,905 Total revenues recognized over time 36,540 38,065 112,139 106,905 Total Revenues $ 162,192 $ 159,009 $ 492,224 $ 440,203 Contract Assets and Contract Liabilities Contract assets are recorded when the Company's right to consideration is conditioned on constraints other than the passage of time. The Company had no material contract assets as of September 30, 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 revenues. The Company's deferred revenues as of September 30, 2022 and December 31, 2021 were as follows: September 30, 2022 December 31, 2021 U.S. $ in thousands Deferred revenue* $ 72,316 $ 72,307 *Includes $23.6 million and $21.1 million under long-term deferred revenue in the Company's consolidated balance sheets as of September 30, 2022 and December 31, 2021, respectively. Revenue recognized in 2022 that was included in deferred revenue balance as of Dece mber 31, 2021 was $10.6 million and $41.1 million Remaining Performance Obligations Rema ining 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, 2022 and December 31, 2021, the deferred commissions amounted to $8.9 million and $7.4 million, respectively.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
Inventories	Note 5. Inventories Inventories consisted of the following as of the below balance sheet dates: September 30, 2022 December 31, 2021 U.S. $ in thousands Finished goods $ 80,251 $ 58,784 Work-in-process 8,031 4,360 Raw materials 82,152 66,003 $ 170,434 $ 129,147

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2022 were as follows: U.S. $ in thousands Goodwill as of January 1, 2022 $ 65,144 Foreign currency translation adjustments (300 ) Goodwill as of September 30, 2022 $ 64,844 Other Intangible Assets Other intangible assets consisted of the following: September 30, 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 $ 387,146 $ (276,273 ) $ 110,873 $ 406,578 $ (279,037 ) $ 127,541 Patents 16,696 (8,681 ) 8,015 16,220 (8,503 ) 7,717 Trademarks and trade names 16,261 (13,750 ) 2,511 26,055 (22,241 ) 3,814 Customer relationships 93,288 (85,005 ) 8,283 100,731 (87,559 ) 13,172 Capitalized software development costs 7,066 (7,066 ) - 7,410 (7,410 ) - $ 520,457 $ (390,775 ) $ 129,682 $ 556,994 $ (404,750 ) $ 152,244 Amortization expenses relating to intangible assets for the three-month periods ended September 30, 2022 and 2021 were approximately $9.0 million and $7.7 million, respectively. Amortization expenses relating to intangible assets for the nine month periods ended September 30, 2022 and 2021 were approximately $27.4 million and $23.0 million, respectively. As of September 30, 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 3 months of 2022 $ 9,842 2023 22,585 2024 18,530 2025 16,051 2026 15,957 2027 and thereafter 46,717 Total $ 129,682

Net Income (Loss) Per Share

Net Income (Loss) Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Note 7. Net Income (Loss) Per Share The following table presents the numerator and denominator of the basic and diluted net income (loss) per share computations for the three and nine months ended September 30, 2022 and 2021: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 In thousands, except per share amounts In thousands, except per share amounts Numerator: Net income (loss) for basic and diluted net income (loss) per share $ 18,749 $ (18,076 ) $ (26,584 ) $ (57,146 ) Denominator: Weighted average shares - for basic net income (loss) per share 66,772 65,018 66,356 62,888 Weighted average shares - for diluted net income (loss) per share 67,038 65,018 66,356 62,888 Net income (loss) per share Basic and diluted $ 0.28 $ (0.28 ) $ (0.40 ) $ (0.91 ) The computation of diluted net income (loss) per share excluded share awards of 4.1 million shares and 5.0 million shares for the three month ended September 30, 2022 and 2021, respectively, and 5.0 million shares for the nine month ended September 30, 2022 and 2021, respectively, because their inclusion would have had an anti-dilutive effect on the diluted net income (loss) per share.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Note 8. Income Taxes The Company had income tax expense of $3.3 million for the three-month period ended September 30, 2022, compared to income tax benefit of $0.7 million for the three-month period ended September 30, 2021. The Company had income tax expense of $2.8 million for the nine-month period ended September 30, 2022, and income tax benefit of $6.0 million for the nine-month period ended September 30, 2021. The Company’s effective tax rate as of September 30, 2022, was primarily impacted by the geographic mix of its earnings and losses, as well as changes in its valuation allowance.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
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, 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 $ 249 $ - $ 82 $ - Foreign exchange forward contracts designated as hedging instruments 1,899 - 910 - Liabilities: Foreign exchange forward contracts not designated as hedging instruments (427 ) - (89 ) - Foreign exchange forward contracts designated as hedging instruments (2,481 ) - (60 ) - Total contingent consideration* - 55,412 - 55,919 $ (760 ) $ 55,412 $ 843 $ 55,919 *Includes $16.9 million and $2.4 million under Accrued expenses and other current liabilities in the Company's consolidated balance sheets as of September 30, 2022 and December 31, 2021, respectively. 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, 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 2023. 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 2022 2021 2022 2021 U.S. $ in thousands Assets derivatives -Foreign exchange contracts, not designated as hedging instruments Other current assets $ 249 $ 82 $ 24,156 $ 12,380 Assets derivatives -Foreign exchange contracts, designated as cash flow hedge Other current assets 1,899 910 14,362 60,408 Liability derivatives -Foreign exchange contracts, not designated as hedging instruments Accrued expenses and other current liabilities (427 ) (89 ) 34,026 33,047 Liability derivatives -Foreign exchange contracts, designated as hedging instruments Accrued expenses and other current liabilities (2,481 ) (60 ) 57,780 26,320 $ (760 ) $ 843 $ 130,324 $ 132,155 Foreign exchange contracts not designated as hedging instruments As of September 30, 2022, the notional amounts of the Company’s outstanding exchange forward contracts, not designated as hedging instruments, were $58.2 million, and were used to reduce foreign currency exposures. With respect to such derivatives, gain of $2.9 million and loss of $0.9 million gain of $6.0 million and gain of $2.6 million were recognized under financial expenses, net for the nine-month periods ended September 30, 2022 and 2021, respectively Cash Flow Hedging - Hedges of forecasted foreign currency payroll and other operating expenses As of September 30, 2022 Cash Flow Hedging - Hedges of forecasted foreign currency revenue As of September 30, 2022

Equity

Equity	9 Months Ended
	Sep. 30, 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”), performance-based restricted share units ( ” ” Employee Share Purchase Plan Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 U.S $ in thousands U.S $ in thousands Cost of revenues $ 1,061 $ 805 $ 3,041 $ 2,227 Research and development, net 1,487 1,764 4,879 5,058 Selling, general and administrative 4,843 5,389 16,835 15,855 Total stock-based compensation expenses $ 7,391 $ 7,958 $ 24,755 $ 23,140 A summary of the Company’s stock option activity for the nine months ended September 30, 2022 Number of Options Weighted Average Exercise Price Options outstanding as of January 1, 2022 1,732,368 28.85 Granted - - Exercised (24,852 ) 10.41 Forfeited (35,421 ) 26.80 Options outstanding as of September 30, 2022 1,672,095 29.17 Options exercisable as of September 30, 2022 1,365,231 32.04 As of September 30, 2022 A summary of the Company’s RSUs and PSUs activity for the nine months ended September 30, 2022 Number of RSUs and PSUs Weighted Average Grant Date Fair Value Unvested as of January 1, 2022 3,082,798 26.36 Granted 1,904,310 22.29 Vested (1,077,117 ) 24.87 Forfeited (590,724 ) 24.60 Unvested as of September 30, 2022 3,319,267 24.82 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, 2022 Employee Stock Purchase Plan On October 2021, the Company adopted the 2021 Employee Stock Purchase Plan (the “ESPP”). According to the ESPP, eligible employees may use up to 15% of their salaries to purchase ordinary shares. The price of an ordinary share purchased under the ESPP is equal to 85% of the lower of the fair market value of the ordinary share on the beginning of each offering period or on the purchase date. The first offering period commenced on June 1, 2022 and will end on November 30, 2022. In accordance with ASC Topic 718, the ESPP is considered compensatory and, as such, results in recognition of stock-based compensation expenses. 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, 2022 Nine Months Ended September 30, 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 (506 ) (5,089 ) (5,595 ) Amounts reclassified from accumulated other comprehensive loss 143 - 143 Other comprehensive loss (363 ) (5,089 ) (5,452 ) Balance as of September 30, 2022 $ 1,209 $ (15,432 ) $ (14,223 ) 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 ) c. Rights plan On July 24, 2022, the Company’s Board of Directors adopted a rights plan (the “Rights Plan”) to protect the interests of the Company’s shareholders. Each Right entitles the registered holder thereof to purchase from the Company one Ordinary Share at a price of $0.01 per share, subject to adjustment, once the Rights become exercisable, and subject to the exercise terms and conditions thereof described in the Rights Agreement. The rights would become exercisable only if an entity, person, or group acquires beneficial ownership of 15% or more of the Company’s outstanding ordinary shares in a transaction not approved by the Company’s Board. The Rights Plan has a 364-day term, expiring on July 24, 2023. The Rights Plan will encourage anyone seeking to gain a significant interest in Stratasys to negotiate directly with the Board prior to attempting to control or significantly influence the Company. Further to those goals, the Rights may cause substantial dilution to a person or group that acquires 15% or more of the ordinary shares, par value NIS 0.01, of the Company (“Ordinary Shares”) or any existing holder of 15% or more of the Ordinary Shares who shall acquire any additional Ordinary Shares. d. Public offering of ordinary shares During March 2021, the Company completed a public offering of its ordinary shares that raised $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, 2022
Loss Contingency [Abstract]
Contingencies	Note 12. Contingencies Legal proceedings 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 September 30, 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)	9 Months Ended
	Sep. 30, 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)	9 Months Ended
	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Schedule of disaggregated by geographical region	Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 (U.S. $ in thousands) (U.S. $ in thousands) Americas Systems $ 34,869 $ 34,136 $ 96,719 $ 82,546 Consumables 33,303 31,474 99,319 90,415 Service 39,281 37,962 117,207 105,673 Total Americas 107,453 103,572 313,245 278,634 EMEA Systems 11,811 10,214 41,648 30,393 Consumables 13,666 16,682 45,759 44,830 Service 5,983 7,165 19,320 20,279 Total EMEA 31,460 34,061 106,727 95,502 Asia Pacific Systems 9,626 7,926 31,319 24,781 Consumables 8,861 8,456 26,166 26,552 Service 4,792 4,994 14,767 14,734 Total Asia Pacific 23,279 21,376 72,252 66,067 Total Revenues $ 162,192 $ 159,009 $ 492,224 $ 440,203
Schedule of revenue recognition	Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 (U.S. $ in thousands) (U.S. $ in thousands) Revenues recognized at point in time from: Products $ 112,133 $ 108,888 $ 340,927 $ 299,517 Services 13,519 12,056 39,158 33,781 Total revenues recognized at point in time 125,652 120,944 380,085 333,298 Revenues recognized over time from: Services 36,540 38,065 112,139 106,905 Total revenues recognized over time 36,540 38,065 112,139 106,905 Total Revenues $ 162,192 $ 159,009 $ 492,224 $ 440,203
Schedule of deferred revenue	September 30, 2022 December 31, 2021 U.S. $ in thousands Deferred revenue* $ 72,316 $ 72,307

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
Schedule of inventories	September 30, 2022 December 31, 2021 U.S. $ in thousands Finished goods $ 80,251 $ 58,784 Work-in-process 8,031 4,360 Raw materials 82,152 66,003 $ 170,434 $ 129,147

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 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 (300 ) Goodwill as of September 30, 2022 $ 64,844
Schedule of other intangible assets	September 30, 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 $ 387,146 $ (276,273 ) $ 110,873 $ 406,578 $ (279,037 ) $ 127,541 Patents 16,696 (8,681 ) 8,015 16,220 (8,503 ) 7,717 Trademarks and trade names 16,261 (13,750 ) 2,511 26,055 (22,241 ) 3,814 Customer relationships 93,288 (85,005 ) 8,283 100,731 (87,559 ) 13,172 Capitalized software development costs 7,066 (7,066 ) - 7,410 (7,410 ) - $ 520,457 $ (390,775 ) $ 129,682 $ 556,994 $ (404,750 ) $ 152,244
Schedule of estimated amortization expenses relating to intangible assets	Estimated amortization expense (U.S. $ in thousands) Remaining 3 months of 2022 $ 9,842 2023 22,585 2024 18,530 2025 16,051 2026 15,957 2027 and thereafter 46,717 Total $ 129,682

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of basic and diluted net income (loss) per share	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 In thousands, except per share amounts In thousands, except per share amounts Numerator: Net income (loss) for basic and diluted net income (loss) per share $ 18,749 $ (18,076 ) $ (26,584 ) $ (57,146 ) Denominator: Weighted average shares - for basic net income (loss) per share 66,772 65,018 66,356 62,888 Weighted average shares - for diluted net income (loss) per share 67,038 65,018 66,356 62,888 Net income (loss) per share Basic and diluted $ 0.28 $ (0.28 ) $ (0.40 ) $ (0.91 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities carried at fair value on a recurring basis	September 30, 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 $ 249 $ - $ 82 $ - Foreign exchange forward contracts designated as hedging instruments 1,899 - 910 - Liabilities: Foreign exchange forward contracts not designated as hedging instruments (427 ) - (89 ) - Foreign exchange forward contracts designated as hedging instruments (2,481 ) - (60 ) - Total contingent consideration* - 55,412 - 55,919 $ (760 ) $ 55,412 $ 843 $ 55,919

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2022
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 2022 2021 2022 2021 U.S. $ in thousands Assets derivatives -Foreign exchange contracts, not designated as hedging instruments Other current assets $ 249 $ 82 $ 24,156 $ 12,380 Assets derivatives -Foreign exchange contracts, designated as cash flow hedge Other current assets 1,899 910 14,362 60,408 Liability derivatives -Foreign exchange contracts, not designated as hedging instruments Accrued expenses and other current liabilities (427 ) (89 ) 34,026 33,047 Liability derivatives -Foreign exchange contracts, designated as hedging instruments Accrued expenses and other current liabilities (2,481 ) (60 ) 57,780 26,320 $ (760 ) $ 843 $ 130,324 $ 132,155

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2022
Stockholders' Equity Note [Abstract]
Schedule of stock-based compensation expenses	Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 U.S $ in thousands U.S $ in thousands Cost of revenues $ 1,061 $ 805 $ 3,041 $ 2,227 Research and development, net 1,487 1,764 4,879 5,058 Selling, general and administrative 4,843 5,389 16,835 15,855 Total stock-based compensation expenses $ 7,391 $ 7,958 $ 24,755 $ 23,140
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 (24,852 ) 10.41 Forfeited (35,421 ) 26.80 Options outstanding as of September 30, 2022 1,672,095 29.17 Options exercisable as of September 30, 2022 1,365,231 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 1,904,310 22.29 Vested (1,077,117 ) 24.87 Forfeited (590,724 ) 24.60 Unvested as of September 30, 2022 3,319,267 24.82
Schedule of accumulated other comprehensive income (loss)	Nine Months Ended September 30, 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 (506 ) (5,089 ) (5,595 ) Amounts reclassified from accumulated other comprehensive loss 143 - 143 Other comprehensive loss (363 ) (5,089 ) (5,452 ) Balance as of September 30, 2022 $ 1,209 $ (15,432 ) $ (14,223 ) 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 )

Business Description and Basi_2

Business Description and Basis of Presentation (Details)	9 Months Ended
	Sep. 30, 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) € in Millions, $ in Millions			1 Months Ended	3 Months Ended				9 Months Ended
	Nov. 01, 2021 USD ($)	Feb. 16, 2021	Aug. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2019	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 EUR (€)
Certain Transactions (Details) [Line Items]
Aggregate purchase price	$ 29.3
Products and services term	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%
Based earn-outs over term		2 years
Gain and loss equity investment				$ 0.9		$ 2
Equity loss amount								3.2	$ 1.2
Other current assets				$ 105.6				$ 105.6
Investment rate				46.50%				46.50%		46.50%
Aggregate purchase price				$ 42.3				$ 42.3		€ 43
Potential earnout payment				$ 36.4				36.4		€ 37
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 would 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%
MakerBot [Member]
Certain Transactions (Details) [Line Items]
Revaluation of an equity investment			$ 39.1

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	9 Months Ended
	Sep. 30, 2022 USD ($)
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]	9 Months Ended
	Sep. 30, 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%
Fair value rate	45%

Certain Transactions (Details_3

Certain Transactions (Details) - Schedule of preliminary allocation of the purchase price to assets acquired and liabilities $ in Thousands	Sep. 30, 2022 USD ($)
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	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Revenue Recognition [Abstract]
Long term deferred revenue	$ 23.6	$ 23.6	$ 21.1
Revenue recognized	41.1	41.1	10.6
Remaining performance obligations	103.6	103.6
Expected remaining performance obligations recognized over subsequent 12 months	14.9	14.9
Expected remaining performance obligations recognized remainder thereafter	11.2	11.2
Expected remaining performance obligations recognized during next 12 months	77.5	77.5
Deferred sales commissions	$ 8.9	$ 8.9	$ 7.4

Revenues (Details) - Schedule o

Revenues (Details) - Schedule of disaggregated by geographical region - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	$ 162,192	$ 159,009	$ 492,224	$ 440,203
Total Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	107,453	103,572	313,245	278,634
Total EMEA [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	31,460	34,061	106,727	95,502
Total Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	23,279	21,376	72,252	66,067
Systems [Member] | Total Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	34,869	34,136	96,719	82,546
Systems [Member] | Total EMEA [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	11,811	10,214	41,648	30,393
Systems [Member] | Total Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	9,626	7,926	31,319	24,781
Consumables [Member] | Total Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	33,303	31,474	99,319	90,415
Consumables [Member] | Total EMEA [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	13,666	16,682	45,759	44,830
Consumables [Member] | Total Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	8,861	8,456	26,166	26,552
Service [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	50,059	50,121	151,297	140,686
Service [Member] | Total Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	39,281	37,962	117,207	105,673
Service [Member] | Total EMEA [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	5,983	7,165	19,320	20,279
Service [Member] | Total Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenues	$ 4,792	$ 4,994	$ 14,767	$ 14,734

Revenues (Details) - Schedule_2

Revenues (Details) - Schedule of revenue recognition - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues (Details) - Schedule of revenue recognition [Line Items]
Total Revenues	$ 162,192	$ 159,009	$ 492,224	$ 440,203
Total revenues recognized at point in time [Member]
Revenues (Details) - Schedule of revenue recognition [Line Items]
Total Revenues	125,652	120,944	380,085	333,298
Total revenues recognized over time [Member]
Revenues (Details) - Schedule of revenue recognition [Line Items]
Total Revenues	36,540	38,065	112,139	106,905
Products [Member]
Revenues (Details) - Schedule of revenue recognition [Line Items]
Total Revenues	112,133	108,888	340,927	299,517
Products [Member] | Total revenues recognized at point in time [Member]
Revenues (Details) - Schedule of revenue recognition [Line Items]
Total Revenues	112,133	108,888	340,927	299,517
Services [Member]
Revenues (Details) - Schedule of revenue recognition [Line Items]
Total Revenues	50,059	50,121	151,297	140,686
Services [Member] | Total revenues recognized at point in time [Member]
Revenues (Details) - Schedule of revenue recognition [Line Items]
Total Revenues	13,519	12,056	39,158	33,781
Services [Member] | Total revenues recognized over time [Member]
Revenues (Details) - Schedule of revenue recognition [Line Items]
Total Revenues	$ 36,540	$ 38,065	$ 112,139	$ 106,905

Revenues (Details) - Schedule_3

Revenues (Details) - Schedule of deferred revenue - USD ($) $ in Thousands		Sep. 30, 2022	Dec. 31, 2021
Schedule Of Deferred Revenue Abstract
Deferred revenue	[1]	$ 72,316	$ 72,307
[1]Includes $23.6 million and $21.1 million under long-term deferred revenue in the Company's consolidated balance sheets as of September 30, 2022 and December 31, 2021, respectively.

Inventories (Details) - Schedul

Inventories (Details) - Schedule of inventories - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Schedule Of Inventories Abstract
Finished goods	$ 80,251	$ 58,784
Work-in-process	8,031	4,360
Raw materials	82,152	66,003
Total inventory	$ 170,434	$ 129,147

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 9	$ 7.7	$ 27.4	$ 23

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, 2022 USD ($)
Goodwill [Line Items]
Goodwill as of January 1, 2022	$ 65,144
Foreign currency translation adjustments	(300)
Goodwill as of September 30, 2022	$ 64,844

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	$ 520,457	$ 556,994
Accumulated Amortization	(390,775)	(404,750)
Net Book Value	129,682	152,244
Developed technology [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	387,146	406,578
Accumulated Amortization	(276,273)	(279,037)
Net Book Value	110,873	127,541
Patents [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	16,696	16,220
Accumulated Amortization	(8,681)	(8,503)
Net Book Value	8,015	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	16,261	26,055
Accumulated Amortization	(13,750)	(22,241)
Net Book Value	2,511	3,814
Customer relationships [Member]
Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	93,288	100,731
Accumulated Amortization	(85,005)	(87,559)
Net Book Value	8,283	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 expenses relating to intangible assets $ in Thousands	Sep. 30, 2022 USD ($)
Schedule Of Estimated Amortization Expenses Relating To Intangible Assets Abstract
Remaining 3 months of 2022	$ 9,842
2023	22,585
2024	18,530
2025	16,051
2026	15,957
2027 and thereafter	46,717
Total	$ 129,682

Net Income (Loss) Per Share (De

Net Income (Loss) Per Share (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of net income (loss) per share	4.1	5	5	5

Net Income (Loss) Per Share (_2

Net Income (Loss) Per Share (Details) - Schedule of basic and diluted net income (loss) per share - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net income (loss) for basic and diluted net income (loss) per share (in Dollars)	$ 18,749	$ (18,076)	$ (26,584)	$ (57,146)
Denominator:
Weighted average shares - for basic net income (loss) per share	66,772	65,018	66,356	62,888
Weighted average shares - for diluted net income (loss) per share	67,038	65,018	66,356	62,888
Net income (loss) per share
Basic and diluted (in Dollars per share)	$ 0.28	$ (0.28)	$ (0.4)	$ (0.91)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income tax expense benefits	$ 3.3	$ 0.7	$ 2.8	$ 6

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Accrued expenses and other current liabilities	$ 16.9	$ 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		Sep. 30, 2022	Dec. 31, 2021
Fair Value, Inputs, Level 2 [Member] | Assets [Member]
Assets:
Foreign exchange forward contracts not designated as hedging instruments		$ 249	$ 82
Foreign exchange forward contracts designated as hedging instruments		1,899	910
Fair Value, Inputs, Level 2 [Member] | Liabilities [Member]
Liabilities:
Foreign exchange forward contracts not designated as hedging instruments		(427)	(89)
Foreign exchange forward contracts designated as hedging instruments		(2,481)	(60)
Total contingent consideration	[1]
Foreign exchange forward contracts fair value		(760)	843
Fair Value, Inputs, Level 3 [Member] | Assets [Member]
Assets:
Foreign exchange forward contracts not designated as hedging instruments
Foreign exchange forward contracts designated as hedging instruments
Fair Value, Inputs, Level 3 [Member] | Liabilities [Member]
Liabilities:
Foreign exchange forward contracts not designated as hedging instruments
Foreign exchange forward contracts designated as hedging instruments
Total contingent consideration	[1]	55,412	55,919
Foreign exchange forward contracts fair value		$ 55,412	$ 55,919
[1]Includes $16.9 million and $2.4 million under Accrued expenses and other current liabilities in the Company's consolidated balance sheets as of September 30, 2022 and December 31, 2021, respectively.

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities (Details) € in Millions, ₪ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 EUR (€)	Sep. 30, 2022 ILS (₪)
Derivative Instruments and Hedging Activities (Details) [Line Items]
Notional amount of derivative asset	$ 58,200,000		$ 58,200,000
Gain (Loss) on derivative instrument	$ 2,900,000	$ 900,000	$ 6,000,000	$ 2.6
Conversion to NIS [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities (Details) [Line Items]
Notional amount of derivative asset | ₪						₪ 58.4
Conversion to Euro [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities (Details) [Line Items]
Notional amount of derivative asset | €					€ 13.8

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, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Fair value	$ (760)	$ 843
Notional amount	130,324	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	249	82
Notional amount of derivative asset	24,156	12,380
Foreign exchange contracts [Member] | Other current assets [Member] | Designated as hedging instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative asset	1,899	910
Notional amount of derivative asset	14,362	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	(427)	(89)
Notional amount of derivative liability	34,026	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	(2,481)	(60)
Notional amount of derivative liability	$ 57,780	$ 26,320

Equity (Details)

Equity (Details) $ in Millions	1 Months Ended		3 Months Ended	9 Months Ended
	Jul. 24, 2022	Oct. 31, 2021	Mar. 31, 2021 USD ($) shares	Sep. 30, 2022 USD ($)	Sep. 30, 2022 ₪ / shares
Equity (Details) [Line Items]
Salaries to purchase ordinary shares, percentage	0.01%	15%
Fair market value		85%
Long-Term Debt, Term	364 years
acquires percentage				15%
Ordinary shares, par value (in New Shekels per share) | ₪ / shares					₪ 1
Existing holder of ordinary shares				15%
Public offering of ordinary shares, net (in Dollars)			$ 218.9
Deferred tax asset (in Dollars)				$ 1.3
Rights Plan [Member]
Equity (Details) [Line Items]
Ownership percentage	15%
Ordinary Shares [Member]
Equity (Details) [Line Items]
Sale of public offering shares (in Shares) | shares			7,931,034
Stock Option [Member]
Equity (Details) [Line Items]
Unrecognized compensation cost (in Dollars)				$ 1.3
Weighted-average period				2 years 4 months 6 days
RSUs and PSUs [Member]
Equity (Details) [Line Items]
Unrecognized compensation cost (in Dollars)				$ 59
Weighted-average period				2 years 4 months 24 days

Equity (Details) - Schedule of

Equity (Details) - Schedule of stock-based compensation expenses - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Cost of revenues [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	$ 1,061	$ 805	$ 3,041	$ 2,227
Research and development, net [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	1,487	1,764	4,879	5,058
Selling, general and administrative [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	4,843	5,389	16,835	15,855
Total stock-based compensation expenses [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	$ 7,391	$ 7,958	$ 24,755	$ 23,140

Equity (Details) - Schedule o_2

Equity (Details) - Schedule of stock option activity	9 Months Ended
	Sep. 30, 2022 $ / shares shares
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	(24,852)
Weighted Average Exercise Price, Exercised | $ / shares	$ 10.41
Number of Options, Forfeited | shares	(35,421)
Weighted Average Exercise Price, Forfeited | $ / shares	$ 26.8
Number of Options, Options outstanding | shares	1,672,095
Weighted Average Exercise Price, Options outstanding | $ / shares	$ 29.17
Number of Options, Options exercisable | shares	1,365,231
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]	9 Months Ended
	Sep. 30, 2022 $ / shares shares
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	1,904,310
Weighted Average Grant Date Fair Value, Granted | $ / shares	$ 22.29
Number of RSUs and PSUs, Vested | shares	(1,077,117)
Weighted Average Grant Date Fair Value, Vested | $ / shares	$ 24.87
Number of RSUs and PSUs, Forfeited | shares	(590,724)
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	$ 24.6
Number of RSUs and PSUs, Unvested | shares	3,319,267
Weighted Average Grant Date Fair Value, Unvested | $ / shares	$ 24.82

Equity (Details) - Schedule o_4

Equity (Details) - Schedule of accumulated other comprehensive income (loss) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (8,771)	$ (8,846)
Other comprehensive income before reclassifications		322
Other comprehensive income (loss) before reclassifications	(5,595)
Amounts reclassified from accumulated other comprehensive loss	143	152
Other comprehensive income (loss)	(5,452)	474
Ending balance	(14,223)	(8,372)
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 before reclassifications		2,427
Other comprehensive income (loss) before reclassifications	(506)
Amounts reclassified from accumulated other comprehensive loss	143	152
Other comprehensive income (loss)	(363)	2,579
Ending balance	1,209	906
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(10,343)	(7,173)
Other comprehensive income before reclassifications		(2,105)
Other comprehensive income (loss) before reclassifications	(5,089)
Amounts reclassified from accumulated other comprehensive loss
Other comprehensive income (loss)	(5,089)	(2,105)
Ending balance	$ (15,432)	$ (9,278)