Equity (Tables)
|
3 Months Ended |
Mar. 31, 2020 |
|---|
| Equity [Abstract] |
|
| Schedule of Share-based Compensation Expense |
Stock-based compensation expenses for equity-classified stock options, restricted share units (“RSUs”) and performance stock units ("PSUs") were allocated as follows:
|
|
|
Three Months Ended
March 31, |
|
|
|
2020 |
|
2019 |
|
|
|
U.S. $ in thousands |
|
Cost of sales |
|
$ |
402 |
|
$ |
354 |
|
Research and development, net |
|
$ |
1,556 |
|
|
759 |
|
Selling, general and administrative |
|
$ |
2,949 |
|
|
3,116 |
|
Total stock-based compensation expenses |
|
$ |
4,907 |
|
$ |
4,229
|
|
| Summary of Stock Options Activity |
A summary of the Company’s stock option activity for the three months ended March 31, 2020 is as follows:
|
|
|
Number of Options |
|
Weighted Average
Exercise Price |
|
Options outstanding as of January 1, 2020 |
|
|
1,961,532 |
|
|
$ |
31.16 |
|
Granted |
|
|
300,000 |
|
|
|
16.41 |
|
Forfeited |
|
|
(49,371 |
) |
|
|
32.64 |
|
Options outstanding as of March 31, 2020 |
|
|
2,212,161 |
|
|
$ |
29.13 |
|
Options exercisable as of March 31, 2020 |
|
|
1,625,889 |
|
|
$ |
33.04
|
|
| Summary of RSUs and PSUs activity |
A summary of the Company’s RSUs and PSUs activity for the three months ended March 31, 2020 is as follows:
|
|
|
Number of RSUs and PSUs |
|
Weighted Average Grant
Date Fair Value |
|
Unvested as of January 1, 2020 |
|
|
2,362,991 |
|
|
$ |
24.10 |
|
Granted |
|
|
1,176,436 |
|
|
|
18.17 |
|
Vested |
|
|
(361,118 |
) |
|
|
25.97 |
|
Forfeited |
|
|
(127,520 |
) |
|
|
21.68 |
|
Unvested as of March 31, 2020 |
|
|
3,050,789 |
|
|
$ |
21.69
|
|
| Schedule of Accumulated other comprehensive income (loss) |
The following tables present the changes in the components of accumulated other comprehensive income (loss), net of taxes, for the three months ended March 31, 2020 and 2019, respectively:
|
|
|
Three months ended March 31, 2020 |
|
|
|
|
Net unrealized gain (loss) on cash flow hedges
|
|
Foreign currency translation adjustments
|
|
Total |
|
|
|
|
U.S. $ in thousands |
|
|
Balance as of January 1, 2020 |
|
$ |
(10 |
) |
|
$ |
(7,706 |
) |
|
$ |
(7,716 |
) |
|
Other comprehensive income (loss) before reclassifications |
|
|
849 |
|
|
|
(1,954 |
) |
|
|
(1,105 |
) |
|
Amounts reclassified from accumulated other comprehensive loss |
|
|
(27 |
) |
|
|
- |
|
|
|
(27 |
) |
|
Other comprehensive income (loss) |
|
|
822 |
|
|
|
(1,954 |
) |
|
|
(1,132 |
) |
|
Balance as of March 31, 2020 |
|
$ |
812 |
|
|
$ |
(9,660 |
) |
|
$ |
(8,848 |
) |
STRATASYS LTD.
NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (UNAUDITED)
|
|
|
Three months ended March 31, 2019 |
|
|
|
|
Net unrealized gain
(loss) on cash flow
hedges |
|
Foreign currency
translation
adjustments |
|
Total |
|
|
|
|
U.S. $ in thousands |
|
|
Balance as of January 1, 2019 |
|
$ |
(627 |
) |
|
$ |
(7,126 |
) |
|
$ |
(7,753 |
) |
|
Other comprehensive income (loss) before reclassifications |
|
|
1,011 |
|
|
|
(427 |
) |
|
|
584 |
|
|
Amounts reclassified from accumulated other comprehensive loss |
|
|
(16 |
) |
|
|
- |
|
|
|
(16 |
) |
|
Other comprehensive income (loss) |
|
|
995 |
|
|
|
(427 |
) |
|
|
568 |
|
|
Balance as of March 31, 2019 |
|
$ |
368 |
|
|
$ |
(7,553 |
) |
|
$ |
(7,185 |
)
|
|