Stratasys Ltd. Files 20-F Annual Report for Fiscal Year Ended December 31, 2023

Ticker: SSYS · Form: 20-F · Filed: Mar 11, 2024 · CIK: 1517396

Sentiment: neutral

Topics: Stratasys, 20-F, Annual Report, 3D Printing, Financials

TL;DR

<b>Stratasys Ltd. has submitted its 2023 annual report on Form 20-F, detailing its financial performance and business operations.</b>

AI Summary

STRATASYS LTD. (SSYS) filed a Foreign Annual Report (20-F) with the SEC on March 11, 2024. Stratasys Ltd. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 7665 Commerce Way, Eden Prairie, MN 55344. Stratasys Ltd. was formerly known as Objet Ltd and Objet Geometries Ltd. The filing is made under the Securities Exchange Act of 1934.

Why It Matters

For investors and stakeholders tracking STRATASYS LTD., this filing contains several important signals. This filing provides a comprehensive overview of Stratasys' financial health and strategic direction for the past fiscal year, crucial for investors assessing the company's performance. As a 20-F filing, it offers detailed information on the company's operations, risk factors, and financial statements, enabling stakeholders to make informed investment decisions.

Risk Assessment

Risk Level: medium — STRATASYS LTD. shows moderate risk based on this filing. The company has a history of name changes and previous corporate structures (Objet Ltd, Objet Geometries Ltd.), indicating potential complexity in its corporate evolution and reporting history.

Analyst Insight

Review the detailed financial statements and risk factors within the 20-F filing to understand Stratasys' performance and outlook for the upcoming fiscal year.

Key Numbers

Key Players & Entities

FAQ

When did STRATASYS LTD. file this 20-F?

STRATASYS LTD. filed this Foreign Annual Report (20-F) with the SEC on March 11, 2024.

What is a 20-F filing?

A 20-F is a annual report for foreign private issuers, equivalent to a 10-K but following international reporting standards. This particular 20-F was filed by STRATASYS LTD. (SSYS).

Where can I read the original 20-F filing from STRATASYS LTD.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by STRATASYS LTD..

What are the key takeaways from STRATASYS LTD.'s 20-F?

STRATASYS LTD. filed this 20-F on March 11, 2024. Key takeaways: Stratasys Ltd. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023.. The filing covers the period from January 1, 2023, to December 31, 2023.. The company's principal executive offices are located at 7665 Commerce Way, Eden Prairie, MN 55344..

Is STRATASYS LTD. a risky investment based on this filing?

Based on this 20-F, STRATASYS LTD. presents a moderate-risk profile. The company has a history of name changes and previous corporate structures (Objet Ltd, Objet Geometries Ltd.), indicating potential complexity in its corporate evolution and reporting history.

What should investors do after reading STRATASYS LTD.'s 20-F?

Review the detailed financial statements and risk factors within the 20-F filing to understand Stratasys' performance and outlook for the upcoming fiscal year. The overall sentiment from this filing is neutral.

How does STRATASYS LTD. compare to its industry peers?

Stratasys is a company operating in the computer peripheral equipment sector, specifically focusing on additive manufacturing (3D printing) technologies.

Are there regulatory concerns for STRATASYS LTD.?

The filing is made under the Securities Exchange Act of 1934, which governs the reporting requirements for public companies in the United States.

Industry Context

Stratasys is a company operating in the computer peripheral equipment sector, specifically focusing on additive manufacturing (3D printing) technologies.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, which governs the reporting requirements for public companies in the United States.

What Investors Should Do

  1. Analyze the financial statements for revenue, net income, and other key performance indicators.
  2. Review the risk factors section to understand potential challenges and uncertainties facing the company.
  3. Examine any disclosures regarding executive compensation or significant corporate events.

Key Dates

Year-Over-Year Comparison

This is the initial 20-F filing for the fiscal year 2023, following previous filings for prior periods.

Filing Stats: 4,473 words · 18 min read · ~15 pages · Grade level 15.1 · Accepted 2024-03-11 15:43:30

Filing Documents

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS. 2

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2.OFFER STATISTICS AND EXPECTED TIMETABLE. 2

KEY INFORMATION

ITEM 3. KEY INFORMATION 2

INFORMATION ON THE COMPANY

ITEM 4. INFORMATION ON THE COMPANY 30

UNRESOLVED STAFF COMMENTS

ITEM 4A. UNRESOLVED STAFF COMMENTS 70

OPERATING AND FINANCIAL REVIEW AND PROSPECTS

ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 71

DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES

ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 92

MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS

ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 112

FINANCIAL INFORMATION

ITEM 8. FINANCIAL INFORMATION 118

THE OFFER AND LISTING

ITEM 9. THE OFFER AND LISTING 120

ADDITIONAL INFORMATION

ITEM 10. ADDITIONAL INFORMATION 120

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 131

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 132 PART II

DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES

ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 133

MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS

ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 133

CONTROLS AND PROCEDURES

ITEM 15. CONTROLS AND PROCEDURES. 133

AUDIT COMMITTEE FINANCIAL EXPERT

ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 134

CODE OF ETHICS

ITEM 16B. CODE OF ETHICS 134

PRINCIPAL ACCOUNTANT FEES AND SERVICES

ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 134

EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES

ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 135

PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS

ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 135

CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT

ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 135

CORPORATE GOVERNANCE

ITEM 16G. CORPORATE GOVERNANCE 135

MINE SAFETY DISCLOSURE

ITEM 16H. MINE SAFETY DISCLOSURE 136

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTION

ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTION 136

INSIDER TRADING POLICIES

ITEM 16J. INSIDER TRADING POLICIES 136

CYBERSECURITY

ITEM 16K. CYBERSECURITY 136 PART III

FINANCIAL STATEMENTS

ITEM 17. FINANCIAL STATEMENTS. 139

FINANCIAL STATEMENTS

ITEM 18. FINANCIAL STATEMENTS 139

EXHIBITS

ITEM 19. EXHIBITS. 152

SIGNATURES

SIGNATURES 153 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain information included or incorporated by reference in this annual report may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are often characterized by the use of forward-looking terminology such as "may," "will," "expect," "anticipate," "estimate," "continue," "believe," "should," "intend," "project" or other similar words, but are not the only way these statements are identified. These forward-looking statements may include, but are not limited to, statements relating to our objectives, plans and strategies, statements that contain projections of results of operations or of financial condition and all statements (other than statements of historical facts) that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. We have based these forward-looking statements on assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, among other things: the extent of our success at introducing new or improved products and solutions that gain market share; the extent of growth of the 3D printing market generally; the global macro-economic environment, including headwinds caused by inflation, relatively high interest rates, potentially unfavorable currency exchange rates and uncerta

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION. A. [Reserved] B. Capitalization and Indebtedness. Not applicable. C. Reasons for the Offer and Use of Proceeds. Not applicable. D. Risk Factors. You should carefully consider the risks described below, together with all of the other information in this annual report on Form 20-F. The risks described below are not the only risks facing us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may also materially and adversely affect our business operations. If any of these risks actually materializes, our business, financial condition and results of operations could suffer and the price of our shares could decline. Summary of Risk Factors: The following constitutes a summary of the material risks relevant to an investment in our company: Risks related to our business and financial condition We may not succeed at introducing new or improved products and solutions that gain market share. Our annual and quarterly operating results and financial condition may fluctuate. Demand for our products and services may not grow as we expect. The 3D printing market generally may not grow as we expect. Global macro-economic trends such as inflation, rising interest rates and potential recessionary conditions, may have material adverse consequences for our operations, financial position, cash flows, and those of our customers and suppliers. Declines in the prices of our products and services, or in our volume of sales, together with our relatively inflexible cost structure, may adversely affect our financial results. To the extent that other companies are successful in developing or marketing consumables for use in our systems, our revenues and profits would likely be adversely affected. If our product mix shifts too far into lower margin products or our revenues mix shifts significantly towards our additive manufacturing ("AM") services business, our profitability could be reduced. Co

View Full Filing

View this 20-F filing on SEC EDGAR

View on Read The Filing