Acquisitions and Other Business Activities (Tables)
|
12 Months Ended |
Dec. 31, 2015 |
|---|
| Solid Concepts Inc [Member] |
|
| Acquisitions and Other Business Activities [Line Item] |
|
| Summary of the fair value of the consideration transferred to Solid Concepts stockholders for the Solid Concepts transaction |
|
|
|
|
|
|
| |
|
|
U.S. $ in thousands |
|
| Issuance of ordinary shares |
|
|
$ |
97,869 |
|
| Cash paid upon closing |
|
|
|
40,130 |
|
| Holdback amount |
|
|
|
3,839 |
|
| Deferred payments |
|
|
|
43,576 |
|
| Total fair value of consideration transferred |
|
|
$ |
185,414 |
|
|
| Schedule of allocation of the purchase price to assets acquired and liabilities assumed |
|
|
Allocation of Purchase
Price |
|
|
(U.S. $ in thousands) |
| Cash and cash equivalents |
|
$ |
3,225 |
| Accounts receivable |
|
|
7,995 |
| Inventories |
|
|
2,391 |
| Other assets |
|
|
2,962 |
| Property, plant and equipment |
|
|
13,952 |
| Other intangible assets |
|
|
38,320 |
| Goodwill |
|
|
125,433 |
| Total assets acquired |
|
|
194,278 |
| Accounts payable |
|
|
3,055 |
| Accrued expenses and other current liabilities |
|
|
5,290 |
| Total liabilities assumed |
|
|
8,345 |
| Non controlling interest |
|
|
519 |
| Net assets acquired |
|
$ |
185,414 |
|
| Schedule of supplemental pro forma combined results of operations |
|
|
Year ended December 31, |
|
|
2014 |
|
|
2013 |
|
|
|
|
|
|
| |
|
(U.S. $ in thousands, except
per share data) |
| Net sales |
$ |
785,385 |
|
$ |
546,355 |
| Net loss attributable to Stratasys Ltd |
|
(106,924 |
)
|
|
(36,259) |
| Net loss per ordinary share attributable to Stratasys Ltd.- basic and diluted |
$ |
(2.12 |
) |
$ |
(0.84 |
|
| Schedule of adjustments for the supplemental pro forma combined results of operations |
|
Year ended December 31, |
| |
2014 |
|
2013 |
|
|
|
|
|
|
|
|
(U.S. $ in thousands) |
| Adjustments due to amortization of intangibles |
$ |
2,261 |
|
$ |
6,446 |
| Adjustments due to retention bonuses |
|
(266 |
) |
|
27,982 |
| Adjustments due to expenses related to business combination |
|
(26,012 |
) |
|
(20,697) |
| Adjustments due to financial expenses related to Solid Concepts debts |
|
(406 |
) |
|
(440) |
| Taxes related adjustments to the supplemental pro forma |
|
10,513 |
|
|
(755) |
| |
$ |
(13,910 |
) |
$ |
12,536 |
|
| MakerBot [Member] |
|
| Acquisitions and Other Business Activities [Line Item] |
|
| Schedule of Total Purchase Price |
|
|
U.S. $ in thousands
|
|
Issuance of ordinary shares to MakerBot stockholders
|
|
$ |
446,019 |
|
Tax withholding and other payments on behalf of MakerBot stockholders
|
|
|
12,163 |
|
Exchange of MakerBot stock options for the Company options
|
|
|
7,198 |
|
Earn-out at estimated fair value
|
|
|
28,270 |
|
Total consideration
|
|
$ |
493,650 |
|
| Schedule of Stock Option Assumptions |
|
Risk-free interest rate
|
|
0.36 |
% |
|
Expected option term
|
|
1.38 years |
|
|
Expected price volatility
|
|
59.41 |
% |
|
Dividend yield
|
|
|
|
|
Weighted average merger date fair value
|
$ |
92.73 |
|
|
| Schedule of allocation of the purchase price to assets acquired and liabilities assumed |
|
Allocation of
|
|
Purchase Price
|
|
U.S. $ in thousands
|
|
Cash and cash equivalents
|
$ |
3,405 |
|
Accounts receivable - Trade
|
|
878 |
|
Accounts receivable - Other
|
|
923 |
|
Deferred tax assets
|
|
5,964 |
|
Inventories
|
|
10,314 |
|
Property, plant and equipment
|
|
4,658 |
|
Goodwill
|
|
372,008 |
|
Intangible assets
|
|
168,386 |
|
Other non-current assets
|
|
7,068 |
|
Total assets acquired
|
|
573,604 |
|
Accounts payable & other liabilities
|
|
6,581 |
|
Unearned revenue
|
|
4,075 |
|
Deferred tax liabilities
|
|
69,120 |
|
Other non-current liabilities
|
|
178 |
|
Total liabilities assumed
|
|
79,954 |
|
Net assets acquired
|
$ |
493,650 |
|
| Schedule of Acquired Intangible Assets |
|
U.S. $ in thousands
|
|
Weighted Average
Life (Years)
|
|
Developed technology
|
$ |
43,227 |
|
5 |
|
Trade name
|
|
42,134 |
|
11 |
|
Customer relationships - Distributors
|
|
19,315 |
|
10 |
|
Customer relationships - Direct
|
|
3,435 |
|
1 |
|
Non-compete agreement
|
|
10,004 |
|
4 |
|
IPR&D - Printers
|
|
34,189 |
|
Indefinite
|
|
IPR&D - Peripherals
|
|
16,082 |
|
Indefinite
|
|
Total
|
$ |
168,386 |
|
|
|
| Schedule of supplemental pro forma combined results of operations |
|
Year ended December 31, 2013 |
|
|
|
|
|
|
|
|
|
(U.S. $ in thousands, except
per share data) |
|
|
|
|
|
|
|
|
| Net sales |
$ |
518,714
|
|
| Net loss attributable to Stratasys Ltd |
|
(23,928
|
) |
| Net loss per ordinary share attributable to Stratasys Ltd.- basic |
|
(0.54 |
) |
| Net loss per ordinary share attributable to Stratasys Ltd.- diluted |
$ |
(0.54 |
) |
|
| Schedule of Adjustments to Supplemental Pro Forma Results of Operations |
|
Year ended
December 31, 2013
|
|
|
|
|
|
|
|
|
|
|
(U.S. $ in thousands)
|
|
|
|
|
|
|
|
|
|
| Increase in amortization of intangibles |
$ |
14,139 |
|
| Adjust performance bonus expenses |
|
(163) |
|
Adjust expenses related to business combination (deal fees,
inventory and deferred revenues step-up and earn-out
revaluation) |
|
(11,301) |
|
| Taxes related adjustments to the supplemental pro forma |
|
(4,239) |
|
|
$ |
(1,564) |
|
|
| Schedule of Results of Operations in Merger |
|
|
Year ended
December 31, 2013
|
|
|
(U.S. $ in thousands)
|
|
|
Net sales
|
$ |
35,603 |
|
|
Loss attributable to MakerBot
|
$ |
(5,306 |
) |
|