Revenue Performance - Fourth quarter revenue of $156.3 million, 1.3% higher than Q4 2022 excluding divestitures, and 1.9% lower than actual Q4 2022 revenues[1] - Full year revenue of $627.6 million, 1.3% higher than 2022 excluding divestitures, and 3.7% lower than actual full year 2022 revenues[1] - Total revenues for the twelve months ended December 31, 2023, were $627,598 thousand, down from $651,483 thousand in 2022, a decrease of 3.7%[20] - 2024 revenue outlook of $630 million to $645 million, improving sequentially through the year[6] Net Income and Loss - Fourth quarter GAAP net loss of $15.0 million, or $0.22 per diluted share, and non-GAAP net income of $1.6 million, or $0.02 per diluted share[1] - Full year GAAP net loss of $123.1 million, or $1.79 per diluted share, and non-GAAP net income of $7.7 million, or $0.11 per diluted share[1] - Net loss for the twelve months ended December 31, 2023, was $123,074 thousand, compared to a net loss of $28,974 thousand in 2022, a substantial increase in loss[20] - Net income for 2023 under GAAP was a loss of $123,074 million, but Non-GAAP adjustments resulted in a profit of $7,709 million[22] - For 2024, the company expects a GAAP net loss of $88 to $72 million, but Non-GAAP adjustments are projected to result in a net income of $9 to $14 million[24] - The company anticipates a GAAP loss per share of $1.24 to $1.01 for 2024, with Non-GAAP diluted earnings per share expected to be $0.12 to $0.19[24] Gross Margin - Fourth quarter GAAP gross margin of 44.7%, compared to 43.1% in Q4 2022[3] - Full year GAAP gross margin of 42.5%, compared to 42.4% in 2022[4] - 2024 full year gross margins expected to be 49.0%-49.5%, improving sequentially[7] - Gross profit for the twelve months ended December 31, 2023, was $267,024 thousand, down from $276,467 thousand in 2022, a decrease of 3.4%[20] - Gross profit for 2023 was $267,024 million under GAAP, with Non-GAAP adjustments adding $35,764 million, resulting in a total Non-GAAP gross profit of $302,788 million[22] Operating Income and Expenses - Operating income (loss) for the twelve months ended December 31, 2023, was a loss of $87,580 thousand, compared to a loss of $57,159 thousand in 2022, a worsening of 53%[20] - Operating income for 2023 under GAAP was a loss of $87,580 million, but Non-GAAP adjustments turned this into a profit of $12,627 million[22] - Research and development expenses increased from $92,876 thousand in 2022 to $94,425 thousand in 2023, reflecting a 1.7% rise[20] - Selling, general, and administrative expenses rose from $240,750 thousand in 2022 to $260,179 thousand in 2023, an increase of approximately 8%[20] - Stock-based compensation expense for 2024 is projected to be between $29 and $31 million[24] - Intangible assets amortization expense for 2024 is expected to range from $26 to $28 million[24] - Reorganization and other expenses for 2024 are estimated to be between $29 and $35 million[24] - Tax expense related to Non-GAAP adjustments for 2024 is forecasted to be $2 to $3 million[24] Financial Position - Total assets decreased from $1,259,790 thousand in 2022 to $1,133,905 thousand in 2023, a decline of approximately 10%[17] - Cash and cash equivalents dropped significantly from $150,470 thousand in 2022 to $82,585 thousand in 2023, a reduction of about 45%[17] - Total current liabilities decreased from $210,654 thousand in 2022 to $176,426 thousand in 2023, a reduction of about 16%[17] - Accumulated deficit increased from $2,076,852 thousand in 2022 to $2,199,926 thousand in 2023, indicating a growing financial shortfall[18]

EDEN PRAIRIE, Minn. & REHOVOT, Israel--(BUSINESS WIRE)--Stratasys Ltd. (NASDAQ: SSYS), a leader in polymer 3D printing solutions, today announced it is launching two new software packages, GrabCAD Streamline Pro™ and a new version of GrabCAD Print Pro™ for PolyJet™. These packages bring the power of Stratasys’ GrabCAD software to additional customers to help increase their efficiency and reduce costs through improved workflows. The first version of GrabCAD Print Pro for FDM and SAF has increased hardware ...

Stratasys (SSYS) has announced the acquisition of Arevo’s technology and intellectual property. Arevo, previously based in Silicon Valley, stopped operating in 2023.The acquisition of the IP estate includes several essential patents in carbon fiber printing, improving strength using localized laser melting and roller compaction, real-time monitoring during printing and hardware design. By integrating this technology into Stratasys FDM® print systems, the company expands the range of manufacturing applicatio ...

EDEN PRAIRIE, Minn. & REHOVOT, Israel--(BUSINESS WIRE)--Stratasys Ltd. (Nasdaq:SSYS), a leader in polymer 3D printing solutions, announced today it has acquired Arevo’s technology portfolio, including its Intellectual Property (IP) estate. Previously based in Silicon Valley, Arevo, Inc. ceased operations in 2023. The acquisition of the IP estate includes multiple foundational patents in carbon fiber printing, Z-strength improvement achieved by localized laser melting and roller compaction, in-situ and AI ...

Patient from the Oklahoma Dental Association Mission of Mercy event for people in need getting new Stratasys TrueDent 3D printed denture. Stratasys partnered with Oklahoma-based Express Labs to provide the TrueDent denture material. (Photo: Business Wire)Patient from the Oklahoma Dental Association Mission of Mercy event for people in need getting new Stratasys TrueDent 3D printed denture. Stratasys partnered with Oklahoma-based Express Labs to provide the TrueDent denture material. (Photo: Business Wire)Pa ...

EDEN PRAIRIE, Minn. & REHOVOT, Israel--(BUSINESS WIRE)--Three senior executives from Stratasys LTD (NASDAQ: SSYS) will speak in four sessions at the Additive Manufacturing Strategies conference, February 6-8 in New York City, the company announced today. The company is also a Diamond Sponsor of this annual in-person event that brings together additive manufacturing stakeholders from all over the world. During the three-day conference, Stratasys leaders will share information and insights based on their e ...

EDEN PRAIRIE, Minn. & REHOVOT, Israel--(BUSINESS WIRE)--Stratasys Ltd. (Nasdaq: SSYS), a leader in polymer 3D printing solutions, today announced that German service bureau PartsToGo has invested in another four stereolithography (SLA) printers. They selected three Neo800 printers and one Neo450 to complement their existing Neo450 and Neo800 to produce high-quality, accurate and repeatable parts for their customers’ industrial-level application needs. The investment brings PartsToGo’s total Neo fleet to six ...

3D printing company Stratasys (SSYS 13.04%) is now in play, and investors quickly got into the action on Tuesday. On news that a peer has made a preliminary offer at a generous premium, those folks piled into the stock and pushed its price 13% higher on the day. That was well above the 0.4% increase of the S&P 500 index across the trading session.Buyout offer receivedOn Sunday, Stratasys divulged in a press release that it received an unsolicited, preliminary buyout offer from specialty electronics company ...

MINNEAPOLIS & REHOVOT, Israel--(BUSINESS WIRE)--Stratasys Ltd. (Nasdaq: SSYS) (“Stratasys” or the “Company”), a leader in polymer 3D printing solutions, today announced that its Board of Directors has unanimously adopted a limited duration shareholder rights plan (the “Rights Plan”). The Rights Plan, which replaces the Company’s shareholder rights plan that was set to expire on December 31, 2023, contains enhanced shareholder protections that are intended to limit the scope of the Rights Plan. The Rights Pl ...

Stratasys Ltd. (NASDAQ:SSYS) Q3 2023 Earnings Call Transcript November 16, 2023 8:30 AM ET Company Participants Yonah Lloyd - VP, IR Yoav Zeif - CEO Eitan Zamir - CFO Conference Call Participants James Ricchiuti - Needham & Company Danny Eggerichs - Craig-Hallum Ananda Baruah - Loop Capital Jacob Stephan - Lake Street Capital Operator Hello, and welcome to the Stratasys Q3 2023 Earnings Conference Call and Webcast. [Operator Instructions] A question and answer session will follow the formal presentation. [O ...