Equity (Tables)
|
6 Months Ended |
Jun. 30, 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
June 30, |
|
Six Months Ended
June 30, | |
|
|
2020 |
|
2019 |
|
2020 |
|
2019 | |
|
|
U.S $ in thousands |
|
U.S $ in thousands | |
Cost of sales |
|
$ |
497 |
|
$ |
541 |
|
$ |
900 |
|
$ |
895 | |
Research and development, net |
|
|
1,702 |
|
|
1,511 |
|
|
3,259 |
|
|
2,270 | |
Selling, general and administrative |
|
|
3,912 |
|
|
4,041 |
|
|
6,859 |
|
|
7,157 | |
Total stock-based compensation expenses |
|
$ |
6,111 |
|
$ |
6,093 |
|
$ |
11,018 |
|
$ |
10,322
|
|
| Summary of Stock Options Activity |
A summary of the Company’s stock option activity for the six months ended June 30, 2020 is as follows:
|
|
|
Number of Options |
|
Weighted Average
Exercise Price | |
Options outstanding as of January 1, 2020 |
|
|
1,961,532 |
|
|
$ |
31.16 | |
Granted |
|
|
360,000 |
|
|
|
17.10 | |
Exercised |
|
|
(2,237 |
) |
|
|
8.09 | |
Forfeited |
|
|
(76,753 |
) |
|
|
28.74 | |
Options outstanding as of June 30, 2020 |
|
|
2,242,542 |
|
|
$ |
29.01 | |
Options exercisable as of June 30, 2020 |
|
|
1,732,704 |
|
|
$ |
32.24
|
|
| Summary of RSUs and PSUs activity |
A summary of the Company’s RSUs and PSUs activity for the six months ended June 30, 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 |
|
|
1,189,436 |
|
|
|
18.17 | |
Vested |
|
|
(587,225 |
) |
|
|
23.57 | |
Forfeited |
|
|
(286,091 |
) |
|
|
22.45 | |
Unvested as of June 30, 2020 |
|
|
2,679,111 |
|
|
$ |
21.76
|
|
| 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 six months ended June 30, 2020 and 2019, respectively:
|
|
|
Six months ended June 30, 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 |
|
|
856 |
|
|
|
(1,667 |
) |
|
|
(811 |
) | |
Amounts reclassified from accumulated other comprehensive loss |
|
|
33 |
|
|
|
- |
|
|
|
33 |
| |
Other comprehensive income (loss) |
|
|
889 |
|
|
|
(1,667 |
) |
|
|
(778 |
) | |
Balance as of June 30, 2020 |
|
$ |
879 |
|
|
$ |
(9,373 |
) |
|
$ |
(8,494 |
) |
STRATASYS LTD.
NOTES TO CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (UNAUDITED)
|
|
|
Six months ended June 30, 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 |
|
|
1,277 |
|
|
|
(444 |
) |
|
|
833 |
| |
Amounts reclassified from accumulated other comprehensive loss |
|
|
(127 |
) |
|
|
- |
|
|
|
(127 |
) | |
Other comprehensive income (loss) |
|
|
1,150 |
|
|
|
(444 |
) |
|
|
706 |
| |
Balance as of June 30, 2019 |
|
$ |
523 |
|
|
$ |
(7,570 |
) |
|
$ |
(7,047 |
)
|
|