6-K STRATASYS LTD. 0001517396 --12-31 2020-06-30 false Q2 2020 0001517396 2019-12-31 iso4217:USD 0001517396 2020-06-30 0001517396 us-gaap:DevelopedTechnologyRightsMember 2019-12-31 0001517396 us-gaap:PatentsMember 2019-12-31 0001517396 us-gaap:TrademarksAndTradeNamesMember 2019-12-31 0001517396 us-gaap:CustomerRelationshipsMember 2019-12-31 0001517396 us-gaap:ComputerSoftwareIntangibleAssetMember 2019-12-31 0001517396 us-gaap:ComputerSoftwareIntangibleAssetMember 2020-06-30 0001517396 us-gaap:CustomerRelationshipsMember 2020-06-30 0001517396 us-gaap:TrademarksAndTradeNamesMember 2020-06-30 0001517396 us-gaap:PatentsMember 2020-06-30 0001517396 us-gaap:DevelopedTechnologyRightsMember 2020-06-30 0001517396 us-gaap:AccumulatedTranslationAdjustmentMember 2019-12-31 0001517396 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-12-31 0001517396 us-gaap:AccumulatedTranslationAdjustmentMember 2020-06-30 0001517396 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2020-06-30 0001517396 2019-06-30 0001517396 2018-12-31 0001517396 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-12-31 0001517396 us-gaap:AccumulatedTranslationAdjustmentMember 2018-12-31 0001517396 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-06-30 0001517396 us-gaap:AccumulatedTranslationAdjustmentMember 2019-06-30 0001517396 2020-01-01 2020-06-30 0001517396 us-gaap:CostOfSalesMember 2020-01-01 2020-06-30 0001517396 us-gaap:ResearchAndDevelopmentExpenseMember 2020-01-01 2020-06-30 0001517396 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2020-01-01 2020-06-30 0001517396 2019-04-01 2019-06-30 0001517396 2019-01-01 2019-06-30 0001517396 2020-04-01 2020-06-30 0001517396 us-gaap:CostOfSalesMember 2019-01-01 2019-06-30 0001517396 us-gaap:ResearchAndDevelopmentExpenseMember 2019-01-01 2019-06-30 0001517396 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2019-01-01 2019-06-30 0001517396 us-gaap:CostOfSalesMember 2020-04-01 2020-06-30 0001517396 us-gaap:CostOfSalesMember 2019-04-01 2019-06-30 0001517396 us-gaap:ResearchAndDevelopmentExpenseMember 2020-04-01 2020-06-30 0001517396 us-gaap:ResearchAndDevelopmentExpenseMember 2019-04-01 2019-06-30 0001517396 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2020-04-01 2020-06-30 0001517396 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2019-04-01 2019-06-30 0001517396 us-gaap:ProductMember 2020-01-01 2020-06-30 0001517396 us-gaap:ServiceMember 2020-01-01 2020-06-30 0001517396 srt:AmericasMember 2020-01-01 2020-06-30 0001517396 us-gaap:EMEAMember 2020-01-01 2020-06-30 0001517396 srt:AsiaPacificMember 2020-01-01 2020-06-30 0001517396 us-gaap:ProductMember srt:AmericasMember 2020-01-01 2020-06-30 0001517396 us-gaap:ServiceMember srt:AmericasMember 2020-01-01 2020-06-30 0001517396 us-gaap:ProductMember us-gaap:EMEAMember 2020-01-01 2020-06-30 0001517396 us-gaap:ServiceMember us-gaap:EMEAMember 2020-01-01 2020-06-30 0001517396 us-gaap:ServiceMember srt:AsiaPacificMember 2020-01-01 2020-06-30 0001517396 us-gaap:ProductMember srt:AsiaPacificMember 2020-01-01 2020-06-30 0001517396 us-gaap:ProductMember us-gaap:TransferredAtPointInTimeMember 2020-01-01 2020-06-30 0001517396 us-gaap:ServiceMember us-gaap:TransferredAtPointInTimeMember 2020-01-01 2020-06-30 0001517396 us-gaap:TransferredAtPointInTimeMember 2020-01-01 2020-06-30 0001517396 us-gaap:ServiceMember us-gaap:TransferredOverTimeMember 2020-01-01 2020-06-30 0001517396 us-gaap:TransferredOverTimeMember 2020-01-01 2020-06-30 0001517396 us-gaap:ProductMember 2019-01-01 2019-06-30 0001517396 us-gaap:ProductMember 2019-04-01 2019-06-30 0001517396 us-gaap:ProductMember 2020-04-01 2020-06-30 0001517396 us-gaap:ServiceMember 2019-01-01 2019-06-30 0001517396 us-gaap:ServiceMember 2019-04-01 2019-06-30 0001517396 us-gaap:ServiceMember 2020-04-01 2020-06-30 0001517396 srt:AmericasMember 2019-01-01 2019-06-30 0001517396 srt:AmericasMember 2019-04-01 2019-06-30 0001517396 srt:AmericasMember 2020-04-01 2020-06-30 0001517396 us-gaap:EMEAMember 2019-01-01 2019-06-30 0001517396 us-gaap:EMEAMember 2019-04-01 2019-06-30 0001517396 us-gaap:EMEAMember 2020-04-01 2020-06-30 0001517396 srt:AsiaPacificMember 2019-01-01 2019-06-30 0001517396 srt:AsiaPacificMember 2019-04-01 2019-06-30 0001517396 srt:AsiaPacificMember 2020-04-01 2020-06-30 0001517396 us-gaap:ProductMember srt:AmericasMember 2019-01-01 2019-06-30 0001517396 us-gaap:ProductMember srt:AmericasMember 2019-04-01 2019-06-30 0001517396 us-gaap:ProductMember srt:AmericasMember 2020-04-01 2020-06-30 0001517396 us-gaap:ServiceMember srt:AmericasMember 2019-01-01 2019-06-30 0001517396 us-gaap:ServiceMember srt:AmericasMember 2019-04-01 2019-06-30 0001517396 us-gaap:ServiceMember srt:AmericasMember 2020-04-01 2020-06-30 0001517396 us-gaap:ProductMember us-gaap:EMEAMember 2019-01-01 2019-06-30 0001517396 us-gaap:ProductMember us-gaap:EMEAMember 2019-04-01 2019-06-30 0001517396 us-gaap:ProductMember us-gaap:EMEAMember 2020-04-01 2020-06-30 0001517396 us-gaap:ServiceMember us-gaap:EMEAMember 2019-01-01 2019-06-30 0001517396 us-gaap:ServiceMember us-gaap:EMEAMember 2019-04-01 2019-06-30 0001517396 us-gaap:ServiceMember us-gaap:EMEAMember 2020-04-01 2020-06-30 0001517396 us-gaap:ProductMember srt:AsiaPacificMember 2019-01-01 2019-06-30 0001517396 us-gaap:ProductMember srt:AsiaPacificMember 2019-04-01 2019-06-30 0001517396 us-gaap:ProductMember srt:AsiaPacificMember 2020-04-01 2020-06-30 0001517396 us-gaap:ServiceMember srt:AsiaPacificMember 2019-01-01 2019-06-30 0001517396 us-gaap:ServiceMember srt:AsiaPacificMember 2019-04-01 2019-06-30 0001517396 us-gaap:ServiceMember srt:AsiaPacificMember 2020-04-01 2020-06-30 0001517396 us-gaap:TransferredAtPointInTimeMember 2019-01-01 2019-06-30 0001517396 us-gaap:TransferredAtPointInTimeMember 2019-04-01 2019-06-30 0001517396 us-gaap:TransferredAtPointInTimeMember 2020-04-01 2020-06-30 0001517396 us-gaap:TransferredOverTimeMember 2019-01-01 2019-06-30 0001517396 us-gaap:TransferredOverTimeMember 2019-04-01 2019-06-30 0001517396 us-gaap:TransferredOverTimeMember 2020-04-01 2020-06-30 0001517396 us-gaap:ProductMember us-gaap:TransferredAtPointInTimeMember 2019-01-01 2019-06-30 0001517396 us-gaap:ProductMember us-gaap:TransferredAtPointInTimeMember 2019-04-01 2019-06-30 0001517396 us-gaap:ProductMember us-gaap:TransferredAtPointInTimeMember 2020-04-01 2020-06-30 0001517396 us-gaap:ServiceMember us-gaap:TransferredAtPointInTimeMember 2019-01-01 2019-06-30 0001517396 us-gaap:ServiceMember us-gaap:TransferredAtPointInTimeMember 2019-04-01 2019-06-30 0001517396 us-gaap:ServiceMember us-gaap:TransferredAtPointInTimeMember 2020-04-01 2020-06-30 0001517396 us-gaap:ServiceMember us-gaap:TransferredOverTimeMember 2019-01-01 2019-06-30 0001517396 us-gaap:ServiceMember us-gaap:TransferredOverTimeMember 2019-04-01 2019-06-30 0001517396 us-gaap:ServiceMember us-gaap:TransferredOverTimeMember 2020-04-01 2020-06-30 0001517396 ssys:StratasysObjetReportingUnitMember 2019-12-31 0001517396 us-gaap:CommonStockMember 2019-12-31 0001517396 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0001517396 us-gaap:RetainedEarningsMember 2019-12-31 0001517396 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0001517396 us-gaap:CommonStockMember 2020-06-30 0001517396 us-gaap:AdditionalPaidInCapitalMember 2020-06-30 0001517396 us-gaap:RetainedEarningsMember 2020-06-30 0001517396 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-06-30 0001517396 us-gaap:CommonStockMember 2019-03-31 0001517396 us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0001517396 us-gaap:RetainedEarningsMember 2019-03-31 0001517396 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0001517396 2019-03-31 0001517396 us-gaap:CommonStockMember 2019-06-30 0001517396 us-gaap:AdditionalPaidInCapitalMember 2019-06-30 0001517396 us-gaap:RetainedEarningsMember 2019-06-30 0001517396 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-06-30 0001517396 us-gaap:CommonStockMember 2018-12-31 0001517396 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0001517396 us-gaap:RetainedEarningsMember 2018-12-31 0001517396 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0001517396 us-gaap:CommonStockMember 2020-03-31 0001517396 us-gaap:AdditionalPaidInCapitalMember 2020-03-31 0001517396 us-gaap:RetainedEarningsMember 2020-03-31 0001517396 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-03-31 0001517396 2020-03-31 iso4217:ILS i:shares i:shares 0001517396 us-gaap:CommonStockMember 2019-01-01 2019-03-31 0001517396 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-03-31 0001517396 2019-01-01 2019-03-31 0001517396 us-gaap:CommonStockMember 2019-04-01 2019-06-30 0001517396 us-gaap:AdditionalPaidInCapitalMember 2019-04-01 2019-06-30 0001517396 us-gaap:CommonStockMember 2020-04-01 2020-06-30 0001517396 us-gaap:CommonStockMember 2020-01-01 2020-03-31 0001517396 us-gaap:AdditionalPaidInCapitalMember 2020-04-01 2020-06-30 0001517396 us-gaap:AdditionalPaidInCapitalMember 2020-01-01 2020-03-31 0001517396 2020-01-01 2020-03-31 0001517396 us-gaap:RetainedEarningsMember 2019-01-01 2019-03-31 0001517396 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0001517396 us-gaap:RetainedEarningsMember 2019-04-01 2019-06-30 0001517396 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-04-01 2019-06-30 0001517396 us-gaap:RetainedEarningsMember 2020-04-01 2020-06-30 0001517396 us-gaap:RetainedEarningsMember 2020-01-01 2020-03-31 0001517396 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-04-01 2020-06-30 0001517396 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-03-31 iso4217:USD i:shares 0001517396 ssys:StratasysObjetReportingUnitMember 2019-10-01 2019-12-31 i:pure 0001517396 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ForeignExchangeFutureMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0001517396 us-gaap:NondesignatedMember us-gaap:ForeignExchangeFutureMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0001517396 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ForeignExchangeFutureMember us-gaap:FairValueMeasurementsRecurringMember 2020-06-30 0001517396 us-gaap:NondesignatedMember us-gaap:ForeignExchangeFutureMember us-gaap:FairValueMeasurementsRecurringMember 2020-06-30 0001517396 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ForeignExchangeContractMember ssys:ConversionToNisMember us-gaap:OtherCurrentAssetsMember 2020-06-30 iso4217:ILS 0001517396 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember 2019-12-31 0001517396 us-gaap:NondesignatedMember us-gaap:ForeignExchangeContractMember us-gaap:OtherCurrentAssetsMember 2019-12-31 0001517396 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember 2020-06-30 0001517396 us-gaap:NondesignatedMember us-gaap:ForeignExchangeContractMember us-gaap:OtherCurrentAssetsMember 2020-06-30 0001517396 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ForeignExchangeContractMember ssys:ConversionToEuroMember us-gaap:OtherCurrentAssetsMember 2020-06-30 iso4217:EUR 0001517396 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherCurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember 2019-12-31 0001517396 us-gaap:NondesignatedMember us-gaap:ForeignExchangeContractMember us-gaap:OtherCurrentLiabilitiesMember 2019-12-31 0001517396 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherCurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember 2020-06-30 0001517396 us-gaap:NondesignatedMember us-gaap:ForeignExchangeContractMember us-gaap:OtherCurrentLiabilitiesMember 2020-06-30 0001517396 ssys:RestrictedShareUnitsAndPerformanceStockUnitsMember 2020-06-30 0001517396 ssys:RestrictedShareUnitsAndPerformanceStockUnitsMember 2019-12-31 0001517396 ssys:RestrictedShareUnitsAndPerformanceStockUnitsMember 2020-01-01 2020-06-30 0001517396 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2020-01-01 2020-06-30 0001517396 us-gaap:AccumulatedTranslationAdjustmentMember 2020-01-01 2020-06-30 0001517396 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-01-01 2019-06-30 0001517396 us-gaap:AccumulatedTranslationAdjustmentMember 2019-01-01 2019-06-30 0001517396 2020-06-01 2020-06-02 0001517396 us-gaap:EmployeeRelocationMember 2020-04-01 2020-06-30 0001517396 us-gaap:OtherRestructuringMember 2020-04-01 2020-06-30

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of August 2020

Commission File Number 001-35751

STRATASYS LTD.

(Translation of registrant’s name into English)

c/o Stratasys, Inc.

9600 West 76th Street

Eden Prairie, Minnesota 55344

1 Holtzman Street, Science Park

P.O. Box 2496

Rehovot, Israel 76124

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____


The contents of this Report of Foreign Private Issuer on Form 6-K (this “Form 6-K”), including Exhibits 99.1, 99.2 and 101 annexed hereto, are incorporated by reference into the Registrant’s registration statements on Form S-8, SEC file numbers 333-190963 and 333-236880, filed by the Registrant with the SEC on September 3, 2013 and March 4, 2020, and shall be a part thereof from the date on which this Form 6-K is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.

CONTENTS

On August 5, 2020, Stratasys Ltd., or Stratasys, released its financial results for the three and six months ended June 30, 2020.

Attached hereto as Exhibit 99.1 are the unaudited, condensed consolidated financial statements of Stratasys for the three and six months ended June 30, 2020 (including the notes thereto) (the “Q2 2020 Financial Statements”).

Attached hereto as Exhibit 99.2 is Stratasys’ review of its results of operations and financial condition for the three and six months ended June 30, 2020, including the following:

(i)

Operating and Financial Review and Prospects

(ii)

Quantitative and Qualitative Disclosures About Market Risk

(iii)

Legal Proceedings

(iv)

Risk Factors

Attached hereto as Exhibit 101 are the Q2 2020 Financial Statements, formatted in IXBRL (eXtensible Business Reporting Language), consisting of the following sub-exhibits:

Exhibit

Number

Document Description

EX-101.INS

IXBRL Taxonomy Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document

EX-101.SCH

IXBRL Taxonomy Extension Schema Document

EX-101.CAL

IXBRL Taxonomy Calculation Linkbase Document

EX-101.DEF

IXBRL Taxonomy Extension Definition Linkbase Document

EX-101.LAB

IXBRL Taxonomy Label Linkbase Document

EX-101.PRE

IXBRL Taxonomy Presentation Linkbase Document

EX-104

Cover Page Interactive Data File – the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

STRATASYS LTD.

Dated: August 5, 2020

By:

/s/ Lilach Payorski

Name:

Lilach Payorski

Title:

Chief Financial Officer


Stratasys (NASDAQ:SSYS)
Historical Stock Chart
From Oct 2020 to Nov 2020 Click Here for more Stratasys Charts.
Stratasys (NASDAQ:SSYS)
Historical Stock Chart
From Nov 2019 to Nov 2020 Click Here for more Stratasys Charts.