Stratasys ltd. (SSYS)
CashFlow / Quarterly
Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12
Cash flows from operating activities
Net loss

-745

-3,577

-13,131

-10,081

-10,238

-6,153

-13,987

-14,824

-20,973

-18,653

-23,171

-232,526

-901,437

-23,144

-216,404

-92,032

-31,352

-173

4,087

-1,991

-6,648

-2,785

-15,483

-3,900

5,183

3,018

4,522

Adjustments to reconcile net loss to net cash provided by operating activities:
Goodwill impairment

-

-

-

-

-

-

-

-

-

-

-

96,550

695,458

0

150,400

102,470

0

0

0

-

-

-

-

-

-

-

-

Depreciation and amortization

15,290

15,240

15,372

16,844

16,819

16,406

16,566

23,134

22,951

23,296

23,496

24,508

28,107

26,873

28,907

30,274

30,576

25,212

23,367

26,015

19,446

17,647

29,328

-

-

-

-

Stock-based compensation

4,013

4,278

3,415

3,589

4,898

5,331

3,904

4,887

4,784

5,479

5,623

5,850

4,836

9,564

9,760

8,796

7,597

7,078

6,736

6,799

6,612

5,361

5,490

6,977

784

632

481

Foreign currency transaction loss (gain)

-235

-4,893

1,678

1,751

1,328

4,606

2,744

-6,407

833

-762

4,189

-1,720

-887

2,703

-8,708

-5,374

-4,622

-470

139

-

-

-

-

-

-

-

-

Depreciation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,259

1,731

1,531

Amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,184

1,139

1,118

Deferred income taxes

1,831

980

922

-5,490

1,505

790

791

4,171

2,880

2,438

889

-42,079

36,012

11,366

13,830

8,699

31,748

7,569

5,871

2,574

7,482

5,518

3,875

3,450

0

0

0

Share in losses of associated companies

3,752

1,360

6,073

-

338

229

288

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit from stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-238

-

-976

0

-986

-

-

-

-

Change in fair value of obligations in connection with acquisitions

-

-

-

-

-

-

-

-988

-24

-587

727

-713

-3,022

-6,680

-13,256

-24,861

5,578

628

-7,495

-

-

-

-

-

-

-

-

Impairment of other intangibles assets

-

-

-

-

-

-

-

-

-

-

-

-

193,188

0

43,205

-

14,635

0

0

-

-

-

-

-

-

-

-

Excess tax benefit from stock options and warrant

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

191

Change in fair value of earn-out obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Other non-cash items, net

-1,778

-90

-709

-718

-497

-632

-1,673

486

-1,070

-22

-614

196

-162

-4

-47

-1,117

348

655

-161

-603

534

43

79

-

-

-

-

Change in cash attributable to changes in operating assets and liabilities:
Loss on amounts funded in respect of employee rights upon termination

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Accounts receivable, net

7,263

5,046

-13,990

10,799

-694

3,621

-6,145

13,185

-3,900

4,264

-15,558

-6,685

-6,965

-6,862

-4,563

13,745

19,846

6,632

6,494

11,169

2,495

9,376

9,723

10,000

2,381

5,335

1,919

Inventories

3,740

410

3,573

-8,158

6,610

402

-1,028

-6,089

2,423

3,387

-363

-10,785

4,464

3,381

15,348

7,660

2,014

16,480

13,216

11,459

5,937

2,560

7,146

-4,798

10,714

2,055

-247

Net investment in sales-type leases

-1,858

-2,018

-2,244

-2,696

-2,984

-3,172

-3,344

-2,953

-2,206

-2,400

1,913

1,018

-713

4,373

1,819

872

2,462

853

891

2,917

105

1,820

67

1,507

1,486

665

558

Other current assets and prepaid expenses

-1,354

4,600

-266

2,617

2,341

-1,573

280

960

-475

1,209

-2,089

3,355

-18,552

12,851

-8,916

21

4,181

1,312

5,023

-

-

-

-

-

-

-

-

Other non-current assets

508

263

304

1,342

-276

11

-275

-141

-281

-224

-287

340

-891

-114

1,104

-745

-1,226

34

379

7,568

-6,053

-433

543

-

-

-

33

Accounts payable

-7,947

6,677

981

-4,678

-1,594

1,221

3,845

3,219

-3,362

3,063

-951

1,818

-5,801

-8,047

10,093

-3,690

-3,849

1,496

1,738

-

-

-

-

-

-

-

-

Other receivables and prepaid expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

934

777

-1,176

-

-

-

-642

Accounts payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,735

2,733

-13,768

-

-

-

-

Other current liabilities

5,376

-6,156

4,110

1,564

-2,255

-4,466

4,043

659

-4,694

-13,958

11,663

-1,217

-14,199

13,547

-5,595

11,042

11,853

-231

8,383

-

-

-

-

-

-

-

-

Accounts payable and other current liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,010

7,350

227

Provision for severance pay, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Deferred revenues

736

174

1,594

1,715

1,102

271

333

2,443

-1,147

2,163

-79

4,028

1,343

2,023

2,747

5,064

642

3,908

3,048

4,932

853

2,820

2,996

-78

212

-723

811

Other non-current liabilities

524

-652

-2,094

4,248

2,897

1,774

2,035

-12,509

-1,788

12,200

2,356

485

-4,060

-2,090

3,914

1,559

8,407

-333

-2,914

7,667

2,259

3,014

428

637

0

0

0

Net cash provided by operating activities

4,950

13,046

27,052

21,036

4,634

10,560

25,677

25,954

-2,457

6,892

31,584

7,727

-17,893

-15,648

3,904

14,862

-10,664

4,758

4,860

15,615

18,614

10,052

-12,252

-816

-9,629

5,061

6,878

Cash flows from investing activities
Purchase of short-term bank deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Decrease in restricted deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Purchase of property and equipment

6,505

4,796

7,607

6,429

4,588

4,976

6,315

13,436

10,610

13,494

7,585

8,856

30,652

30,383

14,408

16,698

20,290

12,637

10,872

12,669

10,698

4,863

5,046

4,526

1,225

3,849

2,457

Investment in unconsolidated entities

5,153

2,862

5,000

1,020

0

0

2,548

0

0

19,064

4,000

250

0

0

0

-

-

-

-

-

-

-

-

0

0

1,601

6,806

Purchase of intangible assets

480

363

271

313

550

162

515

874

357

526

245

696

665

1,010

376

284

656

441

1,706

3,337

715

359

252

-

-

-

-

Proceeds from maturities of short-term bank deposits

-

-

-

-

-

-

-

-

2

66,803

1,558

-

147,302

2,149

8,725

-

75,988

198,366

201,634

-

-

-

-

-

-

-

-

Investments in short-term bank deposits

-

-

-

-

-

-

-

-

2

-187

67,264

-

30,207

150,370

1,709

-

84,777

75,252

200,000

-

-

-

-

-

-

-

-

Proceeds from maturities and sales of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

40,869

8,486

2,512

1,500

Change in short-term bank deposits, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-200,000

75,370

-55,307

-

-

-

-

Cash paid for acquisitions, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

6,104

0

3,801

-

129,664

12,042

0

-

-

-

-

-

-

-

-

Proceeds from sales of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

4,803

Proceeds from sale of plant and property

0

335

3,770

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amounts funded in respect of employee rights upon retirement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Acquisition of intangible and other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

584

528

706

Other investing activities

-118

185

162

248

-50

83

80

245

70

72

70

84

91

104

99

377

0

122

-41

50

-265

-26

-12

-

-

-

-

Net cash used in investing activities

-3,022

-7,871

-9,270

-8,487

-5,088

-5,221

-9,458

-9,180

-11,037

33,834

-77,606

18,701

79,583

-179,718

-11,668

46,624

-162,666

99,506

-10,903

-16,426

-219,906

70,174

-60,593

81,973

6,677

-3,466

-3,666

Cash flows from financing activities
Repayment of current portion of long-term debt

1,285

1,286

1,286

928

929

928

929

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit from stock options and warrant

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

334

344

238

855

976

0

986

12,885

1,728

388

191

Acquisition of redeemable non-controlling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-1

2,171

0

0

0

0

-

-

-

-

Payment of obligations in connection with acquisitions

-

-

-

-

-

-

-

-

-

-

-

1,029

6,915

311

11,620

0

0

10,795

0

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options

1,343

34

1,002

3,256

417

1,687

528

368

106

589

122

519

249

134

1,969

319

5,200

1,347

1,040

2,447

4,016

2,381

3,607

11,679

2,112

691

815

Net cash used in financing activities

58

-2,752

-284

12,328

-1,988

759

-401

26,368

-1,280

589

122

-510

-181,666

124,823

-9,651

-597

55,534

-9,103

-893

7

467,934

2,381

4,593

24,564

3,840

1,079

1,006

Effect of exchange rate changes on cash, cash equivalents and restricted cash

200

-2,297

296

1,071

-105

1,697

1,419

-2,159

237

-609

1,484

-545

-73

-221

-1,694

-2,249

-1,017

-15

16

2

187

-51

-69

205

44

-134

118

Net change in cash, cash equivalents and restricted cash

2,186

126

17,794

25,948

-2,547

7,795

17,237

40,983

-14,537

40,706

-44,416

25,373

-120,049

-70,764

-19,109

58,640

-118,813

95,146

-6,920

-802

266,829

82,556

-68,321

105,926

932

2,540

4,336

Supplemental disclosures of cash flow information:
Transfer of fixed assets to inventory

224

47

109

-138

696

501

129

36

449

80

503

28

37

1,094

2,502

2,214

1,457

88

60

1,118

-719

0

-83

374

2,055

-2,138

-195

Cash paid for income taxes, net of tax refunds

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,391

Transfer of inventory to fixed assets

709

830

320

596

894

1,997

1,357

776

1,845

1,525

939

4,796

479

-973

4,584

4,854

1,983

2,453

1,643

10,991

-1,644

-2,479

-589

-

-

-

-1,100