Core Viewpoint - Stratasys reported a narrower loss in Q1 2024 compared to expectations, but revenues declined year over year, missing consensus estimates due to divestitures and unfavorable currency impacts [1][2]. Financial Performance - The company recorded a loss of 2 cents per share, better than the Zacks Consensus Estimate of a loss of 4 cents, and non-GAAP earnings were 2 cents per share in the same quarter last year [1]. - Revenues decreased by 3.5% year over year to $144.05 million, falling short of the consensus mark by 2.36% [1]. - Product revenues fell by 1.8% to $99.19 million, with System revenues down 18.7% to $32.9 million, while Consumables revenues increased by 9.6% to $66.3 million [2]. - Service revenues decreased by 7.3% to $44.9 million, although Customer Support revenues rose by 3.3% to $31.2 million [2]. - Non-GAAP gross profit decreased by 0.9% to $70.03 million, with a gross margin expansion of 130 basis points to 48.6% [2]. - Non-GAAP operating expenses increased by 2.9% to $71.2 million, leading to a non-GAAP operating loss of $1.2 million compared to a profit of $1.5 million in the prior year [2]. - Adjusted EBITDA fell by 41.4% to $4.1 million [2]. Balance Sheet & Cash Flow - At the end of Q4, Stratasys had cash and short-term deposits of $184.5 million, unchanged from the previous quarter [3]. - The company reported an operating cash flow utilization of $7.7 million, down from $18.1 million in the prior-year quarter [3]. 2024 Outlook - For 2024, Stratasys projects revenues between $630 million and $645 million, with non-GAAP earnings per share expected in the range of 12-19 cents [4]. - The company anticipates a gross margin between 49% and 49.5%, and a non-GAAP operating margin of 2.5-3.5% [4]. - Operating expenses are estimated to be between $292 million and $297 million, with adjusted EBITDA projected at $40-$45 million [4].

Financial Data and Key Metrics - Consolidated revenue for Q1 2024 was $144.1 million, down 3.5% YoY, but relatively flat excluding divestitures [17] - Product revenue was $99.2 million, down 0.9% YoY excluding divestitures, with system revenue declining 17.8% and consumables revenue growing 9.6% to $66.3 million [17][18] - Service revenue was $44.9 million, up 1.8% YoY excluding divestitures, with customer support revenue up 3.3% [18] - GAAP gross margin improved to 44.4% from 43.8% YoY, while non-GAAP gross margin increased to 48.6% from 47.3% [19] - GAAP operating loss was $24.5 million, compared to a loss of $16.8 million YoY, while non-GAAP operating loss was $1.2 million, compared to income of $1.5 million YoY [20] - GAAP net loss was $26 million, or $0.37 per diluted share, compared to a net loss of $22.2 million, or $0.33 per diluted share YoY [20] - Adjusted EBITDA was $4.1 million, down from $7 million YoY, with $7.3 million generated from operating cash flow and $4.3 million in free cash flow [21] Business Line Performance - Consumables revenue reached a record high of $66.3 million, reflecting strong system utilization and customer reliance on 3D printing for manufacturing applications [9][18] - The F3300, a new industrial 3D printing system, has seen growing sales momentum with key customers like Toyota, BAE Systems, Sikorsky, and Nissan [11][12] - The company introduced new SAF HighDef printing capabilities with the H350 version 1.5, expanding manufacturing applications [12] Market Performance - The company maintained stability in a challenging macroeconomic environment, with flat YoY revenue excluding divestitures and increased market share over the past three years [9][39] - The F3300 pipeline is strong, with accelerating interest and engagement levels, and orders surpassing expectations in the first half of 2024 [12] Strategy and Industry Competition - The company is focused on driving innovation in additive manufacturing, with investments in technology, sales channels, and partnerships to support long-term industry leadership [15] - The F3300 is positioned as a disruptive technology in the high-end, large-part FDM market, offering double the speed and throughput at half the cost [53] - The company is leveraging its ESG leadership and sustainability initiatives to support customer decarbonization and supply chain optimization [13][14] Management Commentary on Operating Environment and Future Outlook - Management highlighted the resilience of the business model despite constrained capital spending across the industry, with strong consumables performance and system utilization [9][10] - The company expects the challenging macroeconomic environment to persist in 2024, with delayed purchases and longer sales cycles, but anticipates sequential revenue growth in the second half of the year [22][23] - Full-year 2024 guidance includes revenue of $630 million to $645 million, gross margins of 49% to 49.5%, and adjusted EBITDA of $40 million to $45 million [23][24] Other Key Information - The company promoted Amir Kleiner to COO, strengthening the connection between customer success and operations [13] - Stratasys published its second ESG and sustainability report, emphasizing its commitment to environmental impact, employee health, diversity, and governance [13][14] - The company is conducting a strategic review to maximize shareholder value, with updates to be provided when appropriate [16] Q&A Session Summary Question: Q2 seasonality and F3300 revenue impact [27] - Q2 revenue is expected to show slight improvement sequentially, with F3300 revenue becoming more significant in the second half of the year [28][30] Question: Long-term deferred revenue trends [31] - No specific trend in long-term deferred revenue, with fluctuations due to contract mix [32] Question: Strategic review update [33] - The company is making progress on the strategic review but cannot share details until it culminates [34] Question: Sales cycle and market visibility [37] - Sales cycles are stabilizing, with no significant improvement yet, but the company is leveraging new products like the F3300 to drive engagement [38] Question: Covestro's contribution to consumables growth [40] - Covestro contributed $4 million to $5 million per quarter, with overall consumables growth driven by higher system utilization [41][42] Question: F3300 consumables usage [47] - The F3300 is designed for high-performance materials and high utilization, targeting manufacturing applications with large parts [48] Question: F3300 order performance and mid-market opportunities [50][52] - F3300 orders have surpassed expectations, with strong interest from blue-chip customers and traction in the mid-market for manufacturing applications [51][53] Question: Customer engagement trends [55] - Customer engagement has become more specific, focusing on application requirements and the value of additive manufacturing [56][57] Question: Key focus areas for the second half of 2024 [58] - The industry should focus on delivering real value through reliable machines, materials, and software, with Stratasys well-positioned to lead [59][60] Question: System shipment trends [61] - System shipments are a mix of replacements, fleet expansions, and new customers, with a strong install base supporting sales even in tough times [62] Question: Outlook assumptions on customer CapEx [63] - The outlook assumes no significant change in customer CapEx patterns, based on current visibility [64]

Stratasys (SSYS) came out with a quarterly loss of $0.02 per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to earnings of $0.02 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 50%. A quarter ago, it was expected that this maker of 3D printers would post earnings of $0.04 per share when it actually produced earnings of $0.02, delivering a surprise of -50%.Over the last four quarters, the company ha ...

Company Overview - Stratasys (SSYS) has launched its Direct-to-Garment (D2G) solution for the J850 TechStyle 3D printer, merging personalized fashion with sustainability [1] - The D2G solution allows full-color and multi-material 3D prints directly on assembled garments made from various fabrics, catering to the demand for customization in the fashion industry [1][2] Product Innovation - The D2G tray kits come in two sizes, enabling personalization of garments and promoting sustainable practices by reducing material waste [2] - The Urban Tattoo collection, showcasing the collaboration with designers, transforms ordinary garments into unique pieces of wearable art [2][3] Market Context - The 3D printing market is projected to grow at a compound annual growth rate of 23.5% from 2024 to 2030, valued at $20.37 billion in 2023 [4] - Stratasys shares have decreased by 30.3% year to date, contrasting with the Zacks Computer and Technology sector's 9% growth [4] Competitive Landscape - Stratasys faces competition from companies like Altair Engineering, Xometry, and 3D Systems, which have advanced capabilities and extensive networks [5] - Altair Engineering's partnership with Gen3D enhances its 3D printing capabilities, posing a challenge to Stratasys [5] Financial Outlook - The Zacks Consensus Estimate for Stratasys' 2024 revenues is $637.64 million, indicating a year-over-year growth of 1.6% [7] - The consensus estimate for 2024 earnings is 15 cents per share, reflecting a year-over-year growth of 36.36% [7] Strategic Direction - To maintain competitiveness, Stratasys must continue to innovate and diversify its offerings, as demonstrated by the D2G solution and Urban Tattoo collection [6]

Stratasys (SSYS) has entered into an agreement to be the exclusive polymer 3D printing partner of Select Additive Technologies, a division of Morris Group, Inc. and a major player in machine tool distribution in the United States.With more than 80 years of experience in serving the metalworking industry, Select Additive is well-equipped to help manufacturers transition from traditional metal removal methods to the rapidly advancing world of additive manufacturing. This partnership will provide Select Additi ...

Core Insights - Stratasys Ltd. will provide 3D-printed materials for a lunar mission to test their performance on the moon's surface as part of Aegis Aerospace's SSTEF-1 project, which is under NASA's Tipping Point program [1][2] Group 1: Mission Overview - The SSTEF-1 project aims to develop technology for space infrastructure and capabilities for the moon and near-earth space [1] - Stratasys will supply 3D-printed samples that will be transported to the lunar surface by an unmanned lander using a carrier structure also 3D-printed by Stratasys [2] Group 2: Experiments and Materials - The first experiment will evaluate a sample part made with Stratasys' Antero® 800NA FDM® filament filled with tungsten, designed to provide radiation shielding [2] - The second experiment will assess the performance of 3D-printed materials in space, including Antero 840CN03 FDM filament and a new ESD photopolymer from Henkel, focusing on their resilience to moon dust, low pressure, and temperature fluctuations [3] Group 3: Strategic Importance - The Chief Industrial Business Officer emphasized the significance of additive manufacturing for space missions, highlighting its role in ensuring safety and performance where weight is critical [3] - The carrier structure for the lunar mission will be made from ULTEM™ 9085 thermoplastic, a material commonly used in commercial aircraft interiors, showcasing the versatility of Stratasys' materials [3] Group 4: Company Background - Stratasys is a leader in additive manufacturing, providing innovative 3D printing solutions across various industries, including aerospace and healthcare [4] - The company's solutions aim to enhance product design, manufacturing agility, and patient care, indicating a broad application of its technologies [4]

MINNEAPOLIS & REHOVOT, Israel--(BUSINESS WIRE)--Stratasys Ltd. (Nasdaq: SSYS), announced today that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2023 with the U.S. Securities and Exchange Commission (the “SEC”). The annual report on Form 20-F, which contains Stratasys’ audited annual financial statements for 2023, can be accessed on the SEC’s website at http://www.sec.gov, as well as via the Company’s investor relations website at http://investors.stratasys.com/financia ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or ¨ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 19 ...

Stratasys (SSYS) reported fourth-quarter 2023 non-GAAP earnings of 2 cents per share, which missed the Zacks Consensus Estimate by 50% and declined 71.4% year over year.The company’s revenues dipped 1.8% year over year to $156.3 million and missed the consensus mark by 2.93%. Top-line growth was partially offset by the divestitures of certain businesses and unfavorable foreign currency exchange rates.Quarter in DetailSegment-wise, Product revenues decreased 0.7% from the year-ago quarter to $110.4 million. ...

Q4 and FY 2023 Results Speakers Dr. Yoav Zeif, CEO Eitan Zamir, CFO Yonah Lloyd, CCO & VP IR ...