Stratasys (SSYS) 6-K 13 Nov 24 Condensed Consolidated Interim Financial Statements Financial data

Document And Entity Information

Document And Entity Information	9 Months Ended
	Sep. 30, 2024
DocumentAndEntityInformationAbstract
Document Type	6-K
Entity Registrant Name	STRATASYS LTD.
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
Entity Central Index Key	0001517396
Former Fiscal Year End Date	--12-31
Document Period End Date	Sep. 30, 2024
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 63,956	$ 82,585
Deposits Assets, Current	80,000	80,000
Accounts Receivable, after Allowance for Credit Loss, Current	153,653	172,009
Inventories	195,188	192,976
Prepaid expenses	8,522	7,929
Other current assets	18,025	24,596
Total current assets	519,344	560,095
Non-current assets
Property, plant and equipment, net	183,969	197,552
Goodwill	100,086	100,051
Other intangible assets, net	111,883	127,781
Operating lease right-of-use assets	32,591	18,895
Long-term investments	120,070	115,083
Other non-current assets	14,734	14,448
Total non-current assets	563,333	573,810
Total assets	1,082,677	1,133,905
Current liabilities
Accounts payable	48,157	46,785
Accrued expenses and other current liabilities	35,328	36,656
Employee related charges	29,428	33,877
Deferred revenues - short-term	49,788	52,610
Operating lease liabilities - short term	6,714	6,498
Total current liabilities	169,415	176,426
Non-current liabilities
Deferred revenues - long-term	19,109	23,655
Deferred income taxes	574	723
Operating lease liabilities - long term	25,420	12,162
Contingent consideration	12,410	11,900
Other non-current liabilities	23,971	24,200
Total non-current liabilities	81,484	72,640
Total liabilities	$ 250,899	249,066
Commitments and Contingencies Disclosure [Abstract]
Ordinary shares, authorized	180,000
Equity
Ordinary shares, NIS 0.01 nominal value, authorized 180,000 shares; 67,086 shares and 65,677 shares issued and outstanding at December 31, 2022 and 2021, respectively	$ 200	195
Additional paid-in capital	3,117,626	3,091,649
Accumulated other comprehensive loss	(7,782)	(7,079)
Accumulated deficit	(2,278,266)	(2,199,926)
Total equity	831,778	884,839
Total liabilities and equity	$ 1,082,677	$ 1,133,905

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) shares in Thousands, $ in Thousands	Sep. 30, 2024 USD ($) shares	Sep. 30, 2024 ₪ / shares	Jun. 30, 2024 shares	Dec. 31, 2023 USD ($) shares
Statement of Financial Position [Abstract]
Accounts Receivable, Allowance for Credit Loss | $	$ 2,599			$ 1,449
Ordinary shares, nominal value (in Dollars per share) | ₪ / shares		₪ 0.01
Ordinary shares, authorized	180,000
Ordinary shares, outstanding			71,132	69,656

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues
Total net sales	$ 140,008	$ 162,133	$ 422,099	$ 471,261
Cost of revenues
Total cost of sales	77,278	96,484	234,972	273,995
Gross profit	62,730	65,649	187,127	197,266
Operating expenses
Research and development, net	24,700	23,567	74,357	69,347
Selling, general and administrative	63,495	84,880	188,731	221,173
Total operating expenses	88,195	108,447	263,088	290,520
Operating loss	(25,465)	(42,798)	(75,961)	(93,254)
Financial income (expenses), net	1,009	687	1,500	2,147
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest, Total	(24,456)	(42,111)	(74,461)	(91,107)
Income tax benefit (expenses)	842	645	2,320	5,145
Share in net profits (losses) of associated companies	1,316	4,523	1,559	11,866
Net loss	$ (26,614)	$ (47,279)	$ (78,340)	$ (108,118)
Earnings Per Share, Basic	$ (0.37)	$ (0.68)	$ (1.11)	$ (1.58)
Weighted average shares outstanding - diluted	71,271	69,093	70,670	68,432
Comprehensive Loss
Net loss attributable to non-controlling interests	$ (26,614)	$ (47,279)	$ (78,340)	$ (108,118)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	3,128	(1,353)	918	482
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	(1,777)	1,066	(1,621)	(622)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	1,351	(287)	(703)	(140)
Comprehensive loss attributable to Stratasys Ltd.	(25,263)	(47,566)	(79,043)	(108,258)
Products
Revenues
Total net sales	94,092	113,270	286,882	323,353
Cost of revenues
Total cost of sales	47,707	59,546	144,220	168,235
Service [Member]
Revenues
Total net sales	45,916	48,863	135,217	147,908
Cost of revenues
Total cost of sales	$ 29,571	$ 36,938	$ 90,752	$ 105,760

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($)	Total	Ordinary Shares	Additional Paid-In Capital	Accumulated Deficit	AOCI Attributable to Parent
Balance (in Shares) at Dec. 31, 2022		67,086,000
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2022	$ 959,432,000	$ 187,000	$ 3,048,915,000	$ (2,076,852,000)	$ (12,818,000)
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture		1,017,000
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	4,000	$ 3,000	1,000
Stock-based compensation	8,241,000		8,241,000
Comprehensive loss	(23,214,000)			(22,224,000)	(990,000)
Balance (in Shares) at Mar. 31, 2023		68,103,000
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Mar. 31, 2023	944,463,000	$ 190,000	3,057,157,000	(2,099,076,000)	(13,808,000)
Balance (in Shares) at Dec. 31, 2022		67,086,000
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2022	959,432,000	$ 187,000	3,048,915,000	(2,076,852,000)	(12,818,000)
Stock Issued During Period, Value, Employee Stock Purchase Plan	3,014,000
Balance (in Shares) at Sep. 30, 2023		69,165,000
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Sep. 30, 2023	883,143,000	$ 194,000	3,080,877,000	(2,184,970,000)	(12,958,000)
Balance (in Shares) at Mar. 31, 2023		68,103,000
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Mar. 31, 2023	944,463,000	$ 190,000	3,057,157,000	(2,099,076,000)	(13,808,000)
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture		268,000
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	5,000	$ 1,000	4,000
Stock-based compensation	8,022,000		8,022,000
Comprehensive loss	(37,478,000)			(38,615,000)	1,137,000
Stock Issued During Period, Value, Employee Stock Purchase Plan	$ 3,014,000	$ 1,000	3,013,000
Stock Issued During Period, Shares, Employee Stock Ownership Plan	253,000
Stock Issued During Period, Shares, New Issues	318,000
Balance (in Shares) at Jun. 30, 2023		68,942,000
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jun. 30, 2023	$ 923,227,000	$ 193,000	3,073,396,000	(2,137,691,000)	(12,671,000)
Stock Issued During Period, Value, New Issues	5,201,000	$ 1,000	5,200,000
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture		223,000
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	1,000	$ 1,000
Stock-based compensation	7,481,000		7,481,000
Comprehensive loss	(47,566,000)			(47,279,000)	(287,000)
Balance (in Shares) at Sep. 30, 2023		69,165,000
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Sep. 30, 2023	883,143,000	$ 194,000	3,080,877,000	(2,184,970,000)	(12,958,000)
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2023	884,839,000	$ 195,000	3,091,649,000	(2,199,926,000)	(7,079,000)
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture		784,000
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	149,000	$ 2,000	147,000
Stock-based compensation	8,649,000		8,649,000
Comprehensive loss	(27,487,000)			(25,983,000)	(1,504,000)
Balance (in Shares) at Mar. 31, 2024		70,440,000
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Mar. 31, 2024	866,150,000	$ 197,000	3,100,445,000	(2,225,909,000)	(8,583,000)
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2023	884,839,000	$ 195,000	3,091,649,000	(2,199,926,000)	(7,079,000)
Stock Issued During Period, Value, Employee Stock Purchase Plan	3,264,000
Balance (in Shares) at Sep. 30, 2024		71,385,000
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Sep. 30, 2024	831,778,000	$ 200,000	3,117,626,000	(2,278,266,000)	(7,782,000)
Balance (in Shares) at Mar. 31, 2024		70,440,000
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Mar. 31, 2024	866,150,000	$ 197,000	3,100,445,000	(2,225,909,000)	(8,583,000)
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture		249,000
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	4,000	$ 1,000	3,000
Stock-based compensation	7,346,000		7,346,000
Comprehensive loss	(26,293,000)			(25,743,000)	(550,000)
Stock Issued During Period, Value, Employee Stock Purchase Plan	$ 3,264,000	1,000	3,263,000
Stock Issued During Period, Shares, Employee Stock Ownership Plan	443,000
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jun. 30, 2024	$ 850,471,000	$ 199,000	3,111,057,000	(2,251,652,000)	(9,133,000)
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture		253,000
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture	1,000	$ 1,000	0
Stock-based compensation	6,569,000		6,569,000
Comprehensive loss	(25,263,000)			(26,614,000)	1,351,000
Balance (in Shares) at Sep. 30, 2024		71,385,000
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Sep. 30, 2024	$ 831,778,000	$ 200,000	$ 3,117,626,000	$ (2,278,266,000)	$ (7,782,000)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net loss	$ (78,340)	$ (108,118)
Impairment of Long-Lived Assets to be Disposed of		4,471
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	35,068	37,198
Stock-based compensation	22,564	23,744
Foreign currency transaction loss (gain)	(1,413)	4,087
Share in net (profits) losses of associated companies	1,559	11,866
Unrealized Gain (Loss) on Investments	3,424	5,681
Acquisitions	1,553
Deferred income taxes, net and uncertain tax positions	238	2,891
Other non-cash items, net	2,751	2,494
Change in cash attributable to changes in operating assets and liabilities:
Accounts receivable, net	18,480	(19,676)
Inventories	171	(752)
Other current assets and prepaid expenses	6,173	(3,512)
Other non-current assets	5,257	4,198
Accounts payable	550	(13,031)
Other current liabilities	(2,926)	(2,967)
Deferred revenues	(7,819)	5,123
Other non-current liabilities	(6,853)	(7,609)
Net cash provided by (used in) operating activities	437	(53,912)
Cash flows from investing activities
Cash paid for business combinations, net of cash acquired	0	(68,360)
Purchase of property and equipment	(6,668)	(8,816)
Investments in short-term bank deposits	(90,000)	(31,448)
Proceeds from sale of equity method investment	90,000	128,815
Purchase of intangible assets	(1,486)	(1,487)
Other investing activities	(176)	(1,585)
Payments to Acquire Long-Term Investments	(8,845)	(6,274)
Net cash used in investing activities	(17,175)	10,845
Cash flows from financing activities
Proceeds from exercise of stock options	153	10
Payment of contingent consideration	(1,302)	(906)
Other financing activities	33	(188)
Net cash provided by (used in) financing activities	(1,116)	(1,084)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(178)	(1,703)
Net change in cash, cash equivalents and restricted cash	(18,032)	(45,854)
Cash, cash equivalents and restricted cash, beginning of year	82,864	150,686
Cash, cash equivalents and restricted cash, end of year	64,832	104,832
Non-cash investing and financing activities:
Transfer of inventories to fixed assets	1,850	7,316
Transfer of fixed assets to inventories	4,829	118
Stock Issued During Period, Value, Employee Stock Purchase Plan	3,264	3,014
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability		2,794
Reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheets:
Cash and cash equivalents	63,956	104,563
Restricted cash included in other current assets	876	269
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Total	$ 64,832	$ 104,832

Accounting Policies

Accounting Policies	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure	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, which the Company views as having the largest and fastest growing total addressable market. The Company’s approximately 2,600 granted and pending additive technology patents to date have been used to create models, prototypes, manufacturing tools, and production parts for a multitude of industries including aerospace, automotive, transportation, healthcare, consumer products, dental, medical, fashion and education. Stratasys’ products and comprehensive solutions improve product quality, development time, cost, time-to-market and patient care. The Company’s 3D ecosystem of solutions and expertise includes 3D printers, materials, software, expert services, and on-demand parts production. 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 global events and other longer-term macroeconomic conditions, most prominently, the extent and speed at which inflation subsides, whether and when interest rates are reduced by central banks, whether and when tight credit conditions are loosened, whether capital markets continue to rise and whether global supply chains remain open. As a result, the accounting estimates and assumptions may change over time. Such changes could have an additional impact on the Company’s long-lived asset, goodwill and intangible asset valuations; and the allowance for expected credit losses. These consolidated financial statements reflect the financial statement effects based upon management’s estimates and assumptions utilizing the most currently available information. In October 2023, Israel was attacked by a terrorist organization and entered a state of war. As of the date of these financial statements, the war in Israel is ongoing and continues to evolve. One of the Company’s global headquarters and one of its manufacturing facilities are located in Israel. As of the publication date of these financial statements, the Company's activities in Israel remain largely unaffected by the war. During the nine months ended September 30, 2024, the impact of the war on the Company’s results of operations and financial condition was limited, but such impact may change, and could be significant, as a result of the further continuation, escalation or expansion of the war. The Company continues to maintain business continuity plans backed by its inventory levels located outside of Israel. The results of operations for the three and nine months ended September 30, 2024 are not necessarily 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, 2023, filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 11, 2024 as part of the Company’s Annual Report on Form 20-F for such year.
Accounting Standards Update and Change in Accounting Principle	Note 2. New Accounting Pronouncements Recently issued accounting pronouncements, not yet adopted In November 2023, the FASB issued ASU 2023-07 “Segment Reporting: Improvements to Reportable Segment Disclosures”. This guidance expands public entities’ segment disclosures primarily by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. Public entities with a single reportable segment are required to provide the new disclosures and all the disclosures required under ASC 280. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The amendments are required to be applied retrospectively to all prior periods presented in an entity’s financial statements. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements related disclosures. In December 2023, the FASB issued ASU 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”. This guidance is intended to enhance the transparency and decision-usefulness of income tax disclosures. The amendments in ASU 2023-09 address investor requests for enhanced income tax information primarily through changes to disclosure regarding rate reconciliation and income taxes paid both in the U.S. and in foreign jurisdictions. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024 on a prospective basis, with the option to apply the standard retrospectively. Early adoption is permitted. The Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements disclosures.

Certain Transactions

Certain Transactions	9 Months Ended
	Sep. 30, 2024
Certain Transactions [Abstract]
Certain Transactions	Note 3. Certain Transactions Covestro acquisition On April 3, 2023 (the “Covestro transaction date”), the Company completed the acquisition of the additive manufacturing materials business of Covestro AG. Covestro’s additive manufacturing business is expected to give the Company the ability to accelerate innovative developments in 3D printing materials and to thereby further grow adoption of its newest technologies. Also, the Company acquired an IP portfolio comprised of hundreds of patents and pending patents, including all of the SOMOS™ portfolio. The Covestro transaction is reflected in accordance with ASC Topic 805, “Business Combinations”. The assets acquisition transaction meets the definition of a business and was accounted for as a “Business Combinations” transaction, using the acquisition method of accounting with the Company as the acquirer. The following table summarizes the fair value of the consideration transferred to Covestro AG for the Covestro transaction: U.S. $ in thousands Cash payments $ 53,815 Issuance of ordinary shares to Covestro stockholders 5,202 Contingent consideration at estimated fair value 659 Other liability 868 Total consideration $ 60,544 The fair value of the ordinary shares issued was determined based on the closing market price of the Company's ordinary shares on the Covestro transaction date. In accordance with ASC Topic 805, the estimated contingent consideration as of the Covestro transaction date was included in the purchase price. The total contingent payments could amount to a maximum aggregate amount of up to €37 million. The payment will be settled through the issuance of ordinary shares. The estimated fair value of the contingent consideration is based on management’s assessment of whether, and at what level, the financial metrics will be achieved, and the present value factors associated with the timing of the payments. This fair value measurement is based on significant unobservable inputs in the market and thus represents a Level 3 measurement within the fair value hierarchy. Changes in the fair value of contingent consideration will be recorded in operating expenses. Refer to Note 9. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the Covestro transaction date. The estimated fair values are based on the information that was available as of April 3, 2023. The allocation of the purchase price to assets acquired and liabilities assumed is as follows: Allocation of Purchase Price U.S. $ in thousands Inventory $ 10,342 Fixed assets 7,064 Intangible assets 21,929 Other liabilities (605) Total identifiable net assets 38,730 Goodwill 21,814 Total consideration $ 60,544 The allocation of the PPA to net assets acquired and liabilities assumed resulted in the recognition of intangible assets related to developed technology, customer relationship, and trade name. These intangible assets have a useful life of 7 to 10 years. The fair value estimate of the customer relationship was determined using a variation of the income approach known as the “Multi-Period Excess Earnings Approach”. This valuation technique estimates the fair value of an asset based on market participants’ expectations of the cash flows the asset would generate over its remaining useful life. The net cash flows were discounted to present value. The fair value estimate of the developed technology and trade name, were estimated using the "Relief from royalty" method. This valuation technique estimates the fair value of the asset based on the hypothetical royalty payment that a licensee would be required to pay in exchange for use of the asset. Goodwill was recorded as the residual amount by which the purchase price exceeded the provisional fair value of the net assets acquired and is expected to be fully deductible for tax purposes. Goodwill consists primarily of expected synergies of combining operations, the acquired workforce, and growth opportunities, none of which qualify as separately identifiable intangible assets. Pro forma information giving effect to the acquisition has not been provided, as the results would not be material. During 2023, the Company completed several transactions, including acquisitions of an entity and additional assets, for a total consideration of $22 million. MakerBot and Ultimaker transaction ("Ultimaker") On August 31, 2022, Stratasys completed the merger of MakerBot (previously, a wholly-owned subsidiary) with Ultimaker, which together formed a new entity under the name Ultimaker. The Company accounts for its investment in the combined company Ultimaker 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 comprised of the assumed fair value of the MakerBot shares and additional amount invested in cash by the Company, representing a share of 46.5% in the new entity. During 2023, Ultimaker encountered difficulties in its business partially as a result of tighter competition and global market conditions. As a result, senior management at Ultimaker was replaced and the new management implemented a restructuring plan and additional steps to reduce cost and improve profitability. The Company considered such events as indicators of potential impairment and accordingly performed an impairment analysis for the investment in Ultimaker. Based on such valuation, the fair value of the investment was estimated below its carrying amount and such reduction in fair value was determined to be other than temporary. Accordingly the Company recorded an impairment charge in an amount of $13.9 million, which was recorded in share in losses of associated companies in the consolidated statements of operations and comprehensive loss. Management’s cash flow projections for the fair value of the investment in Ultimaker include significant judgments and assumptions relating to the cash flow projections, future growth and future profitability. Actual results could differ from those estimates, and such differences could be material and may result in other than temporary reduction in fair value, which could lead to additional impairments in the carrying value of the Ultimaker investment. On March 22, 2024, Ultimaker's shareholders agreed to provide it with additional funding of $8.0 million in cash, out of which $4.5 million was funded by the Company. As of September 30, 2024 and December 31, 2023 the Company's equity investment in Ultimaker amounted to $70.9 million and $67.8 million, respectively, which represents the Company's investment in Ultimaker, net of the Company's share in Ultimaker's net losses. Share in losses of Ultimaker for the nine-month periods ended September 30, 2024 and 2023 were approximately in amounts of $1.4 million and $11.8 million, respectively. Other long-term investments In addition to the investment in Ultimaker, other investments included under Long-term investments represent investments in non-marketable equity securities and convertible notes of several companies without readily determinable fair value in which the Company does not have a controlling interest or significant influence. During the nine months ended September 30, 2024 and during 2023, the Company invested a total of $5.4 million and $11.5 million, respectively, in non-marketable equity securities and convertible notes of several companies.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2024
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, 2024 and 2023: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (U.S. $ in thousands) (U.S. $ in thousands) Americas Systems $ 17,844 $ 30,545 $ 49,891 $ 80,706 Consumables 34,378 33,471 106,102 99,800 Service 34,869 37,809 101,394 113,594 Total Americas 87,091 101,825 257,387 294,100 EMEA Systems 10,467 14,967 29,990 38,423 Consumables 19,204 18,654 60,319 55,475 Service 7,393 6,980 22,281 21,467 Total EMEA 37,064 40,601 112,590 115,365 Asia Pacific Systems 3,411 5,978 13,705 21,126 Consumables 8,788 9,655 26,875 27,823 Service 3,654 4,074 11,542 12,847 Total Asia Pacific 15,853 19,707 52,122 61,796 Total Revenues $ 140,008 $ 162,133 $ 422,099 $ 471,261

Inventories

Inventories	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Note 5. Inventories Inventories consisted of the following: September 30, 2024 December 31, 2023 U.S. $ in thousands Finished goods $ 99,574 $ 86,908 Work-in-process 9,713 9,871 Raw materials 85,901 96,197 $ 195,188 $ 192,976

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2024
Disclosure Text Block Supplement [Abstract]
Goodwill and Intangible Assets Disclosure	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, 2024 were as follows: U.S. $ in thousands Goodwill as of January 1, 2024 $ 100,051 Foreign currency translation adjustments 35 Goodwill as of September 30, 2024 $ 100,086 During the fourth quarter of 2023, the Company performed its annual impairment test for goodwill impairment. The Company performed a quantitative assessment for goodwill impairment for its Stratasys-Core reporting unit and concluded that the fair value of Stratasys-Core reporting unit exceeded its carrying amount by approximately 34%, with a carrying amount of goodwill assigned to this reporting unit in an amount of $100.1 million. When evaluating the fair value of Stratasys-Core reporting unit under the income approach, the Company used a discounted cash flow model which utilized Level 3 measures that represent unobservable inputs. Key assumptions used to determine the estimated fair value include: (a) internal cash flows forecasts for 4 years following the assessment date, including expected revenue growth, costs to produce, operating profit margins and estimated capital needs; (b) an estimated terminal value using a terminal year long- term future growth determined based on the growth prospects of the reporting unit; and (c) a discount rate which reflects the weighted average cost of capital adjusted for the relevant risk associated with the Stratasys-Core reporting unit operations and the uncertainty inherent in the Company's internally developed forecasts. In order to assess the reasonableness of its cash flow projections used for its goodwill impairment analysis, the Company compared the aggregate fair value of its reporting units to its market capitalization and calculated the implied control premium. The Company believes that its fair value assessment is reasonably supported by its calculated market capitalization. Actual results may differ from those assumed in the Company's valuation method. It is reasonably possible that the Company's assumptions described above could change in future periods. If any of these were to vary materially from the Company's plans, it may record impairment of goodwill allocated to this reporting unit in the future. Based on the Company’s assessment as of December 31, 2023, no goodwill was determined to be impaired. During the second quarter of 2024, the Company performed an analysis of the impact of recent events, including business and industry specific considerations, on the fair value of Stratasys-Core reporting unit. As part of this analysis the Company considered the changes in market capitalization and the sensitivity of estimates and assumptions used in the last annual impairment test as well as potential impacts of macro-economic pressure. The Company also analyzed the aggregate fair value of its reporting units compared to its market capitalization as part of its goodwill impairment test, in order to assess the reasonableness of the results of its cash flow projections used for its goodwill impairment analysis. The Company noted its market capitalization was below management’s assessment of the aggregate fair value of its reporting units. However, as of June 30, 2024, the Company’s market capitalization plus a reasonable control premium exceeded its book value. Based on the Company’s assessment as of June 30, 2024, no goodwill was determined to be impaired. During the third quarter of 2024, the Company noted that indicators of potential impairment existed which required an interim goodwill impairment analysis for Stratasys-Core reporting unit. These indicators included deterioration in the business climate and operating results, sustained decline in the Company’s market capitalization during the past quarters, changes in management’s business strategy and downward changes of the Company's cash flow projections. As a result of the factors discussed above, the Company performed a quantitative interim assessment for goodwill impairment for its Stratasys-Core reporting unit, using a discounted cash flow model, which utilized Level 3 measures that represent unobservable inputs. Key assumptions used to determine the estimated fair value include: (a) internal cash flows forecasts for 5 years following the assessment date, including expected revenue growth, costs to produce, operating profit margins and estimated capital needs; (b) an estimated terminal value using a terminal year long- term future growth determined based on the growth prospects of the reporting unit; and (c) a discount rate which reflects the weighted average cost of capital adjusted for the relevant risk associated with the Stratasys-Core reporting unit operations and the uncertainty inherent in the Company's internally developed forecasts. Specifically, as part of this assessment, the Company revisited its assumptions supporting the cash flow projections for its Stratasys-Core reporting unit, including: (i) the expected duration and depth of revenue reduction and certain revenue growth assumptions and (ii) the associated operating profit margins. In order to assess the reasonableness of its cash flow projections used for its goodwill impairment analysis, the Company compared the aggregate fair value of its reporting units to its market capitalization and calculated the implied control premium. The Company believes that its fair value assessment is reasonably supported by its calculated market capitalization. Actual results may differ from those assumed in the Company's valuation method. It is reasonably possible that the Company's assumptions described above could change in future periods. If any of these were to vary from the Company's plans, it may record impairment of goodwill allocated to this reporting unit in the future. A hypothetical decrease in the terminal growth rate of 0.5% or an increase of 0.5% to the discount rate would have reduced the fair value of Stratasys-Core reporting unit and result in impairment of goodwill allocated to this reporting unit by approximately $8 million and $21 million, respectively. Based on the Company’s assessment as of September 30, 2024, no goodwill was determined to be impaired. While management believes the goodwill of the reporting unit is currently not impaired, there can be no assurances that goodwill will not be impaired in future periods. The Company will continue to monitor the fair value of its Stratasys-Core reporting unit to determine whether events and changes in circumstances such as further deterioration in the business climate or operating results, significant decline in the Company's share price, changes in management’s business strategy or downward changes of the Company's cash flows projections, warrant further interim impairment testing. Other Intangible Assets Other intangible assets consisted of the following: September 30, 2024 December 31, 2023 Carrying Amount, net of Impairment Accumulated Amortization Net book value Carrying Amount, net of Impairment Accumulated Amortization Net book value U.S. $ in thousands Developed technology $ 403,515 $ (314,179) $ 89,336 $ 403,180 $ (300,780) $ 102,400 Patents 21,587 (11,455) 10,132 19,396 (10,246) 9,150 Trademarks and trade names 22,281 (17,492) 4,789 22,286 (15,936) 6,350 Customer relationships 103,015 (95,389) 7,626 102,520 (92,639) 9,881 Capitalized software development costs 3,236 (3,236) — 4,367 (4,367) — $ 553,634 $ (441,751) $ 111,883 $ 551,749 $ (423,968) $ 127,781 Amortization expenses relating to intangible assets for the three-month As of September 30, 2024, the estimated amortization expenses relating to intangible assets for each of the following future periods were as follows: Estimated amortization expenses (U.S. $ in thousands) Remaining 3 months of 2024 $ 5,680 2025 21,525 2026 21,436 2027 20,502 2028 16,361 2029 and thereafter 26,379 Total $ 111,883

Net Loss per Share

Net Loss per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Net loss per Share	Note 7. Net Loss Per Share The following table presents the numerator and denominator of the basic and diluted net loss per share computations for the three and nine months ended September 30, 2024 and 2023: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 In thousands, except per share amounts In thousands, except per share amounts Numerator: Net loss for basic and diluted net loss per share $ (26,614) $ (47,279) $ (78,340) $ (108,118) Denominator: Weighted average shares - for basic and diluted net loss per share 71,271 69,093 70,670 68,432 Net loss per share Basic and diluted $ (0.37) $ (0.68) $ (1.11) $ (1.58) The computation of diluted net loss per share excluded share awards of 5.1 million shares and 2.4 million shares for the three months ended September 30, 2024 and 2023 respectively, because the inclusion of those shares would have had an anti-dilutive effect on the diluted net loss per share. The computation of diluted net loss per share excluded share awards of 4.0 million shares and 2.1 million shares for the nine months ended September 30, 2024 and 2023 respectively, because the inclusion of those shares would have had an anti-dilutive effect on the diluted net loss per share.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company had income tax expenses of $0.8 million for the three-month period ended September 30, 2024, compared to income tax expenses of $0.6 million for the three-month period ended September 30, 2023. The Company had income tax expenses of $2.3 million for the nine-month period ended September 30, 2024, compared to income tax expenses of $5.1 million for the nine-month period ended September 30, 2023. The Company’s effective tax rate as of September 30, 2024, was primarily impacted by the geographic mix of its earnings and losses, movements in its valuation allowance and changes in its uncertain tax positions.

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurement	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: September 30, 2024 December 31, 2023 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 (U.S. $ in thousands) Assets: Foreign exchange forward contracts not designated as hedging instruments $ — $ 29 $ — $ — $ 164 $ — Foreign exchange forward contracts designated as hedging instruments — 745 — — 2,087 — Convertible notes — — 8,786 — — 7,018 Marketable securities 469 1,994 — — Liabilities: Foreign exchange forward contracts not designated as hedging instruments — (220) — — (51) — Foreign exchange forward contracts designated as hedging instruments — (646) — — (657) — Contingent consideration* — — (18,668) — — (18,603) $ 469 $ (92) $ (9,882) $ 1,994 $ 1,543 $ (11,585) *Includes $6.2 million and $6.7 million under accrued expenses and other current liabilities in the Company's consolidated balance sheets as of September 30, 2024 and December 31, 2023, 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).

Derivatives and Hedging Activit

Derivatives and Hedging Activities	3 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives 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, British Pound, 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 2025. The following table summarizes the consolidated balance sheets classification and fair values of the Company’s derivative instruments: Fair Value Notional Amount Balance sheet location September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 U.S. $ in thousands Assets derivatives - Foreign exchange contracts, not designated as hedging instruments Other current assets $ 29 $ 164 $ 4,917 $ 82,873 Assets derivatives - Foreign exchange contracts, designated as cash flow hedge Other current assets 745 2,087 56,896 51,830 Liability derivatives - Foreign exchange contracts, not designated as hedging instruments Accrued expenses and other current liabilities (220) (51) 88,757 21,168 Liability derivatives - Foreign exchange contracts, designated as cash flow hedge Accrued expenses and other current liabilities (646) (657) 65,399 74,054 $ (92) $ 1,543 $ 215,969 $ 229,925 Foreign exchange contracts not designated as hedging instruments As of September 30, 2024, the notional amounts of the Company’s outstanding exchange forward contracts, not designated as hedging instruments, were $93.7 million, and were used to reduce foreign currency exposures of the Euro, New Israeli Shekel (the "NIS"), British Pound, Japanese Yen, Korean Won and Chinese Yuan. With respect to such derivatives, a loss of $3.0 million and a gain of $1.3 million were recognized under financial expenses, net for the three-month periods ended September 30, 2024 and 2023, respectively and a loss of $1.2 million and a gain of $2.6 million million were recognized under financial expenses, net for the nine-month periods ended September 30, 2024 and 2023, respectively. Such gains partially offset the revaluation losses of the balance sheet items which are also recognized under financial income (expenses), net. Cash Flow Hedging - Hedges of Forecasted Foreign Currency Payroll and other operating expenses As of September 30, 2024, the Company had in effect foreign exchange forward contracts, designated as cash flow hedges for accounting purposes, for the conversion of $53.9 million into NIS. The Company uses short-term cash flow hedge contracts to reduce its exposure to variability in expected future cash flows resulting mainly from payroll costs denominated in New Israeli Shekels. 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 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. As of September 30, 2024, the Company had in effect foreign exchange forward contracts, designated as cash flow hedges for accounting purposes, for the conversion of €61.2 million into dollars.

Equity

Equity	9 Months Ended
	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
Equity	Note 11. Equity a. Share Repurchase Program and Treasury Stock On September 16, 2024, the Company’s Board of Directors authorized a share repurchase program that provides for the repurchase at the amount of up to $50 million of the Company’s ordinary shares, par value 0.01 New Israeli Shekels per share (“ordinary shares”), from time to time. Under the share repurchase program, the Company may effect repurchases by way of a variety of methods, including open market purchases, privately negotiated transactions or otherwise, all in accordance with U.S. securities laws and regulations, including Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company may also, from time to time, enter into plans that are compliant with Rule 10b5-1 of the Exchange Act to facilitate repurchases of its ordinary shares under the Board authorization. The repurchase program does not obligate the Company to acquire any particular number or value of ordinary shares, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion. In accordance with Section 7C of the Israeli Companies Regulations, the share repurchase program became effective 30 days after notice of Company's board of directors’ adoption of the repurchase program was provided to the Company’s material creditors and secured creditors. b. Stock-based compensation plans Stock-based compensation expenses for equity-classified stock options, restricted share units (“RSUs”) and performance-based restricted share units (”PSUs”) were allocated as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 U.S $ in thousands U.S $ in thousands Cost of revenues $ 912 $ 891 $ 2,875 $ 2,822 Research and development, net 1,765 1,605 6,016 5,561 Selling, general and administrative 3,892 4,985 13,673 15,361 Total stock-based compensation expenses $ 6,569 $ 7,481 $ 22,564 $ 23,744 A summary of the Company’s stock option activity for the nine months ended September 30, 2024 is as follows: Number of Options Weighted Average Exercise Price Options outstanding as of January 1, 2024 1,360,652 20.67 Granted — — Exercised (12,413) 12.30 Forfeited (176,524) 23.65 Options outstanding as of September 30, 2024 1,171,715 20.31 Options exercisable as of September 30, 2024 940,704 21.29 As of September 30, 2024, the unrecognized compensation cost of $0.1 million related to all unvested, equity-classified stock options is expected to be recognized as an expense over a weighted-average period of 1.36 years. A summary of the Company’s RSUs and PSUs activity for the nine months ended September 30, 2024 is as follows: Number of RSUs and PSUs Weighted Average Grant Date Fair Value Unvested as of January 1, 2024 3,842,232 17.95 Granted 2,262,431 10.85 Vested (1,273,414) 18.75 Forfeited (555,579) 15.99 Unvested as of September 30, 2024 4,275,670 18.83 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, 2024, the unrecognized compensation cost of $47.4 million related to all unvested, equity-classified RSUs and PSUs is expected to be recognized as expense over a weighted-average period of 2.56 years. c. Accumulated other comprehensive loss The following tables present the changes in the components of accumulated other comprehensive income (loss), net of taxes, for the nine months ended September 30, 2024 and 2023, respectively: Nine Months Ended Net Unrealized Gain (Loss) on Cash Flow Hedges Foreign Currency Translation Adjustments Total U.S. $ in thousands Balance as of January 1, 2024 $ 1,790 $ (8,869) $ (7,079) Other comprehensive income (loss) before reclassifications 430 918 1,348 Amounts reclassified from accumulated other comprehensive loss (2,051) — (2,051) Other comprehensive loss (1,621) 918 (703) Balance as of September 30, 2024 $ 169 $ (7,951) $ (7,782) Nine Months Ended Net Unrealized Gain (Loss) on Cash Flow Hedges Foreign Currency Translation Adjustments Total U.S. $ in thousands Balance as of January 1, 2023 $ (299) $ (12,519) $ (12,818) Other comprehensive income before reclassifications (3,122) 482 (2,640) Amounts reclassified from accumulated other comprehensive loss 2,500 — 2,500 Other comprehensive income (622) 482 (140) Balance as of September 30, 2023 $ (921) $ (12,037) $ (12,958)

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Note 12. Contingencies Legal proceedings Litigation with Nano Dimension regarding Stratasys’ Rights Plan and Nano Dimension’s tender offer On April 25, 2023, the Company was named as a defendant in an action filed by Nano Dimension Ltd., or Nano, in the Tel-Aviv District Court in which Nano sought declaratory relief declaring that Stratasys’ shareholder rights plan is both illegal and void, and also requested a court order enjoining the Company and its directors from intervening with, or hindering in any way, a tender offer that Nano at the time intended to launch to acquire Stratasys ordinary shares. On June 8, 2023, in its statement of defense, the Company rejected all of Nano’s claims, stating, among other things, that there was a substantial change of circumstance since Nano’s action was filed due to Stratasys’ entry into a merger agreement for the acquisition of Desktop Metal on May 25, 2023 and the launch of Nano’s tender offer on May 25, 2023. The Company argued that its rights plan is legal under Israeli law, and that due to the many flaws and unlawful conditions of Nano’s tender offer and Nano’s conduct and circumstances, The Company’s board was obligated to get involved and protect the Company and its shareholders. The Company also submitted a counterclaim to the court, seeking an order restraining Nano from completing its tender offer until certain conditions were to be fulfilled. On July 18, 2023, in the context of an interim procedural decision, the Israeli court took the opportunity to express its preliminary view on the legality of shareholder rights plans for Israeli companies. The court indicated that it is inclined to view rights plans as permissible under Israeli law; that the adoption of a rights plan by a board should be viewed “with suspicion”; and that the board would bear the burden of proving certain matters related to the adoption of such a plan. After Nano’s tender offer expired on July 31, 2023, on December 19, 2023, the court issued an order noting that, from the parties' written submissions, it is appropriate to rule upon one critical question: whether, under Israeli law, a Company can adopt a ‘poison pill’ (i.e., a shareholder rights plan). The court further noted that Nano should consider either amending its claim or withdrawing it and filing a new one. The court emphasized that no new evidence will be allowed and that should Nano choose to proceed with the then-current action, the only question to be considered by the court is the validity of the poison pill under Israeli law. On July 1, 2024, following a request submitted by Nano, which was unopposed by the Company, the court dismissed Nano's claim without prejudice. Ordinary course litigation

Certain Transactions (Tables)

Certain Transactions (Tables)	9 Months Ended
	Sep. 30, 2024
Certain Transactions [Abstract]
Schedule of preliminary allocation of the purchase price to assets acquired and liabilities	U.S. $ in thousands Cash payments $ 53,815 Issuance of ordinary shares to Covestro stockholders 5,202 Contingent consideration at estimated fair value 659 Other liability 868 Total consideration $ 60,544

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue Recognition [Abstract]
Schedule of 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, 2024 and 2023: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (U.S. $ in thousands) (U.S. $ in thousands) Americas Systems $ 17,844 $ 30,545 $ 49,891 $ 80,706 Consumables 34,378 33,471 106,102 99,800 Service 34,869 37,809 101,394 113,594 Total Americas 87,091 101,825 257,387 294,100 EMEA Systems 10,467 14,967 29,990 38,423 Consumables 19,204 18,654 60,319 55,475 Service 7,393 6,980 22,281 21,467 Total EMEA 37,064 40,601 112,590 115,365 Asia Pacific Systems 3,411 5,978 13,705 21,126 Consumables 8,788 9,655 26,875 27,823 Service 3,654 4,074 11,542 12,847 Total Asia Pacific 15,853 19,707 52,122 61,796 Total Revenues $ 140,008 $ 162,133 $ 422,099 $ 471,261

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of inventories	Inventories consisted of the following: September 30, 2024 December 31, 2023 U.S. $ in thousands Finished goods $ 99,574 $ 86,908 Work-in-process 9,713 9,871 Raw materials 85,901 96,197 $ 195,188 $ 192,976

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2024
Disclosure Text Block Supplement [Abstract]
Schedule of changes in the carrying amount of goodwill	Changes in the carrying amount of the Company’s goodwill during the nine months ended September 30, 2024 were as follows: U.S. $ in thousands Goodwill as of January 1, 2024 $ 100,051 Foreign currency translation adjustments 35 Goodwill as of September 30, 2024 $ 100,086
Schedule of other intangible assets	Other intangible assets consisted of the following: September 30, 2024 December 31, 2023 Carrying Amount, net of Impairment Accumulated Amortization Net book value Carrying Amount, net of Impairment Accumulated Amortization Net book value U.S. $ in thousands Developed technology $ 403,515 $ (314,179) $ 89,336 $ 403,180 $ (300,780) $ 102,400 Patents 21,587 (11,455) 10,132 19,396 (10,246) 9,150 Trademarks and trade names 22,281 (17,492) 4,789 22,286 (15,936) 6,350 Customer relationships 103,015 (95,389) 7,626 102,520 (92,639) 9,881 Capitalized software development costs 3,236 (3,236) — 4,367 (4,367) — $ 553,634 $ (441,751) $ 111,883 $ 551,749 $ (423,968) $ 127,781
Schedule of estimated amortization expense relating to intangible assets	As of September 30, 2024, the estimated amortization expenses relating to intangible assets for each of the following future periods were as follows: Estimated amortization expenses (U.S. $ in thousands) Remaining 3 months of 2024 $ 5,680 2025 21,525 2026 21,436 2027 20,502 2028 16,361 2029 and thereafter 26,379 Total $ 111,883

Net Loss per Share (Tables)

Net Loss per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of calculation of basic and diluted net loss per share	The following table presents the numerator and denominator of the basic and diluted net loss per share computations for the three and nine months ended September 30, 2024 and 2023: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 In thousands, except per share amounts In thousands, except per share amounts Numerator: Net loss for basic and diluted net loss per share $ (26,614) $ (47,279) $ (78,340) $ (108,118) Denominator: Weighted average shares - for basic and diluted net loss per share 71,271 69,093 70,670 68,432 Net loss per share Basic and diluted $ (0.37) $ (0.68) $ (1.11) $ (1.58)

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of book value of MakerBot's net assets	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, 2024 December 31, 2023 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 (U.S. $ in thousands) Assets: Foreign exchange forward contracts not designated as hedging instruments $ — $ 29 $ — $ — $ 164 $ — Foreign exchange forward contracts designated as hedging instruments — 745 — — 2,087 — Convertible notes — — 8,786 — — 7,018 Marketable securities 469 1,994 — — Liabilities: Foreign exchange forward contracts not designated as hedging instruments — (220) — — (51) — Foreign exchange forward contracts designated as hedging instruments — (646) — — (657) — Contingent consideration* — — (18,668) — — (18,603) $ 469 $ (92) $ (9,882) $ 1,994 $ 1,543 $ (11,585)

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of balance sheet classification and fair values of derivative instruments	The following table summarizes the consolidated balance sheets classification and fair values of the Company’s derivative instruments: Fair Value Notional Amount Balance sheet location September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 U.S. $ in thousands Assets derivatives - Foreign exchange contracts, not designated as hedging instruments Other current assets $ 29 $ 164 $ 4,917 $ 82,873 Assets derivatives - Foreign exchange contracts, designated as cash flow hedge Other current assets 745 2,087 56,896 51,830 Liability derivatives - Foreign exchange contracts, not designated as hedging instruments Accrued expenses and other current liabilities (220) (51) 88,757 21,168 Liability derivatives - Foreign exchange contracts, designated as cash flow hedge Accrued expenses and other current liabilities (646) (657) 65,399 74,054 $ (92) $ 1,543 $ 215,969 $ 229,925

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
Schedule of stock-based compensation expense	Stock-based compensation expenses for equity-classified stock options, restricted share units (“RSUs”) and performance-based restricted share units (”PSUs”) were allocated as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 U.S $ in thousands U.S $ in thousands Cost of revenues $ 912 $ 891 $ 2,875 $ 2,822 Research and development, net 1,765 1,605 6,016 5,561 Selling, general and administrative 3,892 4,985 13,673 15,361 Total stock-based compensation expenses $ 6,569 $ 7,481 $ 22,564 $ 23,744
Schedule of stock option activity	A summary of the Company’s stock option activity for the nine months ended September 30, 2024 is as follows: Number of Options Weighted Average Exercise Price Options outstanding as of January 1, 2024 1,360,652 20.67 Granted — — Exercised (12,413) 12.30 Forfeited (176,524) 23.65 Options outstanding as of September 30, 2024 1,171,715 20.31 Options exercisable as of September 30, 2024 940,704 21.29
Schedule of RSUs and PSUs activity	A summary of the Company’s RSUs and PSUs activity for the nine months ended September 30, 2024 is as follows: Number of RSUs and PSUs Weighted Average Grant Date Fair Value Unvested as of January 1, 2024 3,842,232 17.95 Granted 2,262,431 10.85 Vested (1,273,414) 18.75 Forfeited (555,579) 15.99 Unvested as of September 30, 2024 4,275,670 18.83
Schedule of accumulated other comprehensive loss	The following tables present the changes in the components of accumulated other comprehensive income (loss), net of taxes, for the nine months ended September 30, 2024 and 2023, respectively: Nine Months Ended Net Unrealized Gain (Loss) on Cash Flow Hedges Foreign Currency Translation Adjustments Total U.S. $ in thousands Balance as of January 1, 2024 $ 1,790 $ (8,869) $ (7,079) Other comprehensive income (loss) before reclassifications 430 918 1,348 Amounts reclassified from accumulated other comprehensive loss (2,051) — (2,051) Other comprehensive loss (1,621) 918 (703) Balance as of September 30, 2024 $ 169 $ (7,951) $ (7,782) Nine Months Ended Net Unrealized Gain (Loss) on Cash Flow Hedges Foreign Currency Translation Adjustments Total U.S. $ in thousands Balance as of January 1, 2023 $ (299) $ (12,519) $ (12,818) Other comprehensive income before reclassifications (3,122) 482 (2,640) Amounts reclassified from accumulated other comprehensive loss 2,500 — 2,500 Other comprehensive income (622) 482 (140) Balance as of September 30, 2023 $ (921) $ (12,037) $ (12,958)

Certain Transactions - Consider

Certain Transactions - Consideration (Details)	9 Months Ended
	Sep. 30, 2024 USD ($)
Certain Transactions [Abstract]
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed	$ 53,815,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	5,202,000
Business Combination, Consideration Transferred, Other	659,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other.1	868,000
Total consideration for 55% holding	$ 60,544,000

Certain Transactions - Purchase

Certain Transactions - Purchase Price Allocation (Details)	9 Months Ended
	Sep. 30, 2024 USD ($)
Restructuring and Related Activities [Abstract]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	$ 10,342,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Assets	7,064,000
Intangible assets	21,929,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other_MB	(605,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	38,730,000
Goodwill	21,814,000
Total consideration for 55% holding	$ 60,544,000

Revenues (Details) - Schedule o

Revenues (Details) - Schedule of disaggregated by geographical region - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Americas
Total Revenues	$ 140,008	$ 162,133	$ 422,099	$ 471,261
Total Americas [Member]
Americas
Total Revenues	87,091	101,825	257,387	294,100
Total EMEA [Member]
Americas
Total Revenues	37,064	40,601	112,590	115,365
Total Asia Pacific [Member]
Americas
Total Revenues	15,853	19,707	52,122	61,796
Systems [Member] | Total Americas [Member]
Americas
Total Revenues	17,844	30,545	49,891	80,706
Systems [Member] | Total EMEA [Member]
Americas
Total Revenues	10,467	14,967	29,990	38,423
Systems [Member] | Total Asia Pacific [Member]
Americas
Total Revenues	3,411	5,978	13,705	21,126
Consumables [Member] | Total Americas [Member]
Americas
Total Revenues	34,378	33,471	106,102	99,800
Consumables [Member] | Total EMEA [Member]
Americas
Total Revenues	19,204	18,654	60,319	55,475
Consumables [Member] | Total Asia Pacific [Member]
Americas
Total Revenues	8,788	9,655	26,875	27,823
Service [Member]
Americas
Total Revenues	45,916	48,863	135,217	147,908
Service [Member] | Total Americas [Member]
Americas
Total Revenues	34,869	37,809	101,394	113,594
Service [Member] | Total EMEA [Member]
Americas
Total Revenues	7,393	6,980	22,281	21,467
Service [Member] | Total Asia Pacific [Member]
Americas
Total Revenues	$ 3,654	$ 4,074	$ 11,542	$ 12,847

Revenues (Details) - Schedule_2

Revenues (Details) - Schedule of disaggregation of revenues - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	$ 140,008	$ 162,133	$ 422,099	$ 471,261
Total revenues recognized in point in time [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	107,083	126,573	326,492	364,503
Total revenues recognized over time [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	32,925	35,560	95,607	106,758
Products [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	94,092	113,270	286,882	323,353
Products [Member] | Total revenues recognized in point in time [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	94,092	113,270	286,882	323,353
Services [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	45,916	48,863	135,217	147,908
Services [Member] | Total revenues recognized in point in time [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	12,991	13,303	39,610	41,150
Services [Member] | Total revenues recognized over time [Member]
Revenues (Details) - Schedule of disaggregation of revenues [Line Items]
Total Revenues	$ 32,925	$ 35,560	$ 95,607	$ 106,758

Revenues (Details) - Schedule_3

Revenues (Details) - Schedule of changes in deferred revenue - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Schedule Of Changes In Deferred Revenue Abstract
Deferred revenue	$ 68,897,000	$ 68,897,000		$ 76,265,000
Deferred revenues - long-term	19,109,000	19,109,000	$ 23,655,000
Revenue recognized	8,400,000	41,500,000
Remaining performance obligations	94,900,000	94,900,000
Expected remaining performance obligations recognized during next 12 months	62,800,000	62,800,000
Expected remaining performance obligations recognized subsequent to next 12 months and thereafter	16,500,000	16,500,000
Expected remaining performance obligations recognized remainder thereafter	15,600,000	15,600,000
Deferred sales commissions	$ 10,200,000	$ 10,200,000	$ 10,300,000

Revenues - Narrative (Details)

Revenues - Narrative (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Revenue Recognition [Abstract]
Deferred revenues - long-term	$ 19,109,000	$ 19,109,000	$ 23,655,000
Revenue recognized	8,400,000	41,500,000
Remaining performance obligations	94,900,000	94,900,000
Expected remaining performance obligations recognized during next 12 months	62,800,000	62,800,000
Expected remaining performance obligations recognized subsequent to next 12 months and thereafter	16,500,000	16,500,000
Expected remaining performance obligations recognized remainder thereafter	15,600,000	15,600,000
Deferred sales commissions	$ 10,200,000	$ 10,200,000	$ 10,300,000

Inventories (Details) - Schedul

Inventories (Details) - Schedule of inventories - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule Of Inventories Abstract
Finished goods	$ 99,574	$ 86,908
Raw materials	9,713	9,871
Work-in-process	85,901	96,197
Total inventory	$ 195,188	$ 192,976

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) - Schedule of changes in the carrying amount of goodwill $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Other Intangible Assets, Net (Details) - Schedule of other intangible assets [Line Items]
Balance at beginning	$ 100,051
Balance at ending	100,086
Goodwill
Other Intangible Assets, Net (Details) - Schedule of other intangible assets [Line Items]
Balance at beginning	100,051
Currency translation adjustments	35
Balance at ending	$ 100,086

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Details) - Schedule of other intangible assets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Other Intangible Assets, Net (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	$ 553,634	$ 551,749
Accumulated Amortization	(441,751)	(423,968)
Other intangible assets, net	111,883	127,781
Developed technology [Member]
Other Intangible Assets, Net (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	403,515	403,180
Accumulated Amortization	(314,179)	(300,780)
Other intangible assets, net	89,336	102,400
Patents [Member]
Other Intangible Assets, Net (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	21,587	19,396
Accumulated Amortization	(11,455)	(10,246)
Other intangible assets, net	10,132	9,150
Trademarks and trade names [Member]
Other Intangible Assets, Net (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	22,281	22,286
Accumulated Amortization	(17,492)	(15,936)
Other intangible assets, net	4,789	6,350
Customer relationships [Member]
Other Intangible Assets, Net (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	103,015	102,520
Accumulated Amortization	(95,389)	(92,639)
Other intangible assets, net	7,626	9,881
Capitalized software development costs [Member]
Other Intangible Assets, Net (Details) - Schedule of other intangible assets [Line Items]
Carrying Amount, Net of Impairment	3,236	4,367
Accumulated Amortization	(3,236)	(4,367)
Other intangible assets, net	$ 0	$ 0

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Details) - Narrative - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Schedule Of Changes In The Carrying Amount Of Goodwill Abstract
Amortization of intangible assets	$ 5,600,000	$ 7,000,000	$ 18,200,000	$ 20,500,000

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets (Details) - Estimated Amortization Expense $ in Thousands	Sep. 30, 2024 USD ($)
Schedule Of Changes In The Carrying Amount Of Goodwill Abstract
2024	$ 5,680
2025	21,525
2026	21,436
2027	20,502
2028	16,361
2029 and thereafter	26,379
Net Book Value	$ 111,883

Net Loss per Share (Details) -

Net Loss per Share (Details) - Schedule of calculation of basic and diluted net loss per share - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net loss attributable to Stratasys Ltd. for basic and diluted net loss per share	$ (26,614)	$ (47,279)	$ (78,340)	$ (108,118)
Denominator:
Weighted average shares – denominator for basic and diluted net loss per share	71,271,000	69,093,000	70,670,000	68,432,000
Earnings Per Share, Basic	$ (0.37)	$ (0.68)	$ (1.11)	$ (1.58)

Net Loss per Share - Narrative

Net Loss per Share - Narrative (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Anti-dilutive shares, excluded from computation of diluted net loss per share	5,100,000	2,400,000	4,000,000	2,100,000

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Current Income Tax Expense (Benefit)	$ 800,000	$ 600,000	$ 2,300,000	$ 5,100,000

Fair Value Measurement (Details

Fair Value Measurement (Details) - Schedule of financial assets and liabilities that are carried at fair value on a recurring basis - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Liabilities:
Foreign exchange forward contracts fair value	$ (92)	$ 1,543
Accounts Payable and Accrued Liabilities, Fair Value Disclosure	6,200	6,700
Fair Value, Inputs, Level 1
Assets:
Marketable Securities	469	1,994
Level 2 [Member]
Assets:
Foreign exchange forward contracts not designated as hedging instruments	29	164
Foreign exchange forward contracts designated as hedging instruments	745	2,087
Liabilities:
Foreign exchange forward contracts not designated as hedging instruments	(220)	(51)
Foreign exchange forward contracts designated as hedging instruments	(646)	(657)
Foreign exchange forward contracts fair value	(92)	1,543
Level 3 [Member]
Assets:
Convertible Debt, Fair Value Disclosures	8,786	7,018
Liabilities:
Contingent consideration	(18,668)	(18,603)
Schedule Of Fair Value Measurements Are Estimated Utilizing Level3 Inputs Abstract	$ 9,882	$ 11,585

Fair Value Measurement (Detai_2

Fair Value Measurement (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Accounts Payable and Accrued Liabilities, Fair Value Disclosure	$ 6,200	$ 6,700

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Details) - Schedule of balance sheet classification and fair values of derivative instruments € in Thousands, $ in Thousands	Sep. 30, 2024 USD ($)	Sep. 30, 2024 EUR (€)	Dec. 31, 2023 USD ($)
Derivatives, Fair Value [Line Items]
Notional amount of derivative asset	$ 93,700	€ 61,200
Fair value	(92)		$ 1,543
Notional amount	215,969		229,925
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other current assets [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative asset	29		164
Notional amount of derivative asset	4,917		82,873
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Accrued expenses and other current liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative liability	(220)		(51)
Notional amount of derivative liability	88,757		21,168
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other current assets [Member] | Cash Flow Hedge [Member]
Derivatives, Fair Value [Line Items]
Notional amount of derivative asset			51,830
Fair value derivative asset	745		2,087
Notional amount of derivative asset	56,896
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Accrued expenses and other current liabilities [Member] | Cash Flow Hedge [Member]
Derivatives, Fair Value [Line Items]
Notional amount of derivative asset			657
Fair value derivative liability	(646)
Notional amount of derivative liability	$ 65,399		$ 74,054

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities (Details) € in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 EUR (€)
Derivatives, Fair Value [Line Items]
Notional amount of derivative asset	$ 93,700		$ 93,700		€ 61,200
Unrealized Gain (Loss) on Derivatives	3,000	$ 1,300	1,200	$ 2,600
Conversion To NISMember
Derivatives, Fair Value [Line Items]
Notional amount of derivative asset	$ 53,900		$ 53,900

Equity (Details) - Schedule of

Equity (Details) - Schedule of stock-based compensation expense - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	$ 6,569	$ 7,481	$ 22,564	$ 23,744
Cost of revenues [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	912	891	2,875	2,822
Research and Development, Net [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	1,765	1,605	6,016	5,561
Selling, General and Administrative [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	$ 3,892	$ 4,985	$ 13,673	$ 15,361

Equity (Details) - Schedule o_2

Equity (Details) - Schedule of stock option activity	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Schedule Of Stock Option Activity Abstract
Options outstanding, Number of Options | shares	1,360,652
Options outstanding, Weighted Average Exercise Price | $ / shares	$ 20.67
Granted, Number of Options | shares	0
Granted, Weighted Average Exercise Price | $ / shares	$ 0
Exercised, Number of Options | shares	(12,413)
Exercised, Weighted Average Exercise Price | $ / shares	$ 12.30
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | shares	(176,524)
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $ / shares	$ 23.65
Options outstanding, Number of Options | shares	1,171,715
Options outstanding, Weighted Average Exercise Price | $ / shares	$ 20.31
Options exercisable, Number of Options | shares	940,704
Options exercisable, Weighted Average Exercise Price | $ / shares	$ 21.29

Equity (Details) - Schedule o_3

Equity (Details) - Schedule of RSUs and PSUs activity - $ / shares	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Equity (Details) - Schedule of stock options outstanding [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period	(176,524)
Restricted And Phantom Share Units Member
Equity (Details) - Schedule of stock options outstanding [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number	4,275,670	3,842,232
Granted, Number of RSUs and PSUs	2,262,431
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period	1,273,414
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period	(555,579)
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 18.83	$ 17.95
Granted, Weighted Average Grant Date Fair Value	10.85
Vested, Weighted Average Grant Date Fair Value	18.75
Forfeited, Weighted Average Grant Date Fair Value	$ 15.99

Equity (Details) - Schedule o_4

Equity (Details) - Schedule of accumulated other comprehensive loss - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ (7,079)
Other comprehensive loss before reclassifications	1,348	$ (2,640)
Amounts reclassified from accumulated other comprehensive loss	2,051	(2,500)
Other comprehensive income (loss)	(703)	(140)
Balance	(7,782)
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(7,079)	(12,818)
Balance	(7,782)	(12,958)
Net unrealized gain (loss) on cash flow hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	1,790	(299)
Other comprehensive loss before reclassifications	430	(3,122)
Amounts reclassified from accumulated other comprehensive loss	2,051	(2,500)
Other comprehensive income (loss)	(1,621)	(622)
Balance	169	(921)
Foreign currency translation adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(8,869)	(12,519)
Other comprehensive loss before reclassifications	918	482
Amounts reclassified from accumulated other comprehensive loss	0	0
Other comprehensive income (loss)	918	482
Balance	$ (7,951)	$ (12,037)

Equity (Details)

Equity (Details)	9 Months Ended
	Sep. 30, 2024 USD ($)
Equity (Details) [Line Items]
Unrecognized compensation cost (in Dollars)	$ 47,400,000
Employee Stock Option [Member]
Equity (Details) [Line Items]
Weighted average period over which unrecognized compensation cost will be recognized	1 year 4 months 9 days
Unrecognized compensation cost (in Dollars)	$ 100,000
Restricted Stock Units (RSUs)
Equity (Details) [Line Items]
Weighted average period over which unrecognized compensation cost will be recognized	2 years 6 months 21 days