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 ...

Core Viewpoint - Stratasys has received an unsolicited buyout offer from Nano Dimension, leading to a significant increase in its stock price, reflecting investor interest in the potential acquisition [1][2]. Group 1: Buyout Offer Details - Stratasys disclosed a preliminary buyout offer from Nano Dimension at a price of $16.50 per share, which is nearly 26% higher than its most recent closing stock price [2]. - The announcement follows Stratasys' review of strategic alternatives, indicating potential considerations for a sale or other business measures [2]. - Stratasys emphasized that the offer does not guarantee a deal will occur and will only disclose further developments when deemed appropriate [2]. Group 2: Market Reaction - Following the buyout news, Stratasys' stock price increased by 13%, significantly outperforming the S&P 500 index, which rose by only 0.4% [1]. - Despite the positive market reaction, there is skepticism regarding the offer, as Stratasys' stock closed at $14.82, which is below Nano Dimension's offer price [3]. - Some investors may be adopting a wait-and-see approach, potentially leading to a more cautious market response to the preliminary bid [3].

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 ...

Q3 2023 Results Speakers Dr. Yoav Zeif, CEO Eitan Zamir, CFO Yonah Lloyd, CCO & VP IR Conference Call and Webcast Details ...

Financial Performance - Total assets decreased from $1,259.79 million in December 2022 to $1,181.765 million in September 2023[4][5] - Cash and cash equivalents decreased from $150.47 million in December 2022 to $104.563 million in September 2023[4] - Revenues for the three months ended September 30, 2023, were $162.133 million, compared to $162.192 million in the same period in 2022[8] - Net loss for the three months ended September 30, 2023, was $47.279 million, compared to a net income of $18.749 million in the same period in 2022[8] - Gross profit for the three months ended September 30, 2023, was $65.649 million, down from $70.749 million in the same period in 2022[8] - Operating loss for the three months ended September 30, 2023, was $42.798 million, compared to an operating loss of $15.626 million in the same period in 2022[8] - Net loss per share for the three months ended September 30, 2023, was $0.68, compared to earnings per share of $0.28 in the same period in 2022[8] - Comprehensive loss for the three months ended September 30, 2023, was $47.566 million, compared to a comprehensive income of $17.88 million in the same period in 2022[8] - Net loss for the nine months ended September 30, 2023, was $108.118 million, compared to $26.584 million for the same period in 2022[13] - Comprehensive loss for the nine months ended September 30, 2023, was $47.566 million, compared to a comprehensive income of $17.880 million in 2022[9][11] - Net loss per share for Q3 2023 was $(0.68), compared to $0.28 in Q3 2022, and for the nine months ended September 30, 2023, it was $(1.58), compared to $(0.40) in the same period of 2022[53] Expenses and Costs - Research and development expenses for the three months ended September 30, 2023, were $23.567 million, slightly up from $23.145 million in the same period in 2022[8] - Selling, general, and administrative expenses for the three months ended September 30, 2023, were $84.88 million, up from $63.23 million in the same period in 2022[8] - Stock-based compensation for the nine months ended September 30, 2023, was $23.744 million, slightly lower than $24.755 million in 2022[13] - Stock-based compensation expenses for Q3 2023 were $7.5 million, compared to $7.4 million in Q3 2022, and for the nine months ended September 30, 2023, they were $23.7 million, compared to $24.8 million in the same period of 2022[66] - The Company recorded restructuring charges of $18.4 million during the nine months ended September 30, 2023, including $12.0 million under Cost of sales[31] Cash Flows and Liquidity - Cash flows from operating activities resulted in a net cash used of $53.912 million for the nine months ended September 30, 2023, compared to $57.289 million in 2022[13] - Cash flows from investing activities provided $10.845 million in 2023, a significant improvement from a net cash used of $23.987 million in 2022[13] - Cash flows from financing activities used $1.084 million in 2023, slightly lower than $1.407 million in 2022[13] - Cash, cash equivalents, and restricted cash at the end of September 30, 2023, were $104.832 million, down from $150.823 million at the end of September 30, 2022[13] Equity and Investments - Total equity as of September 30, 2023, was $883.143 million, down from $948.726 million as of September 30, 2022[9][11] - Accumulated deficit as of September 30, 2023, was $2.18497 billion, compared to $2.074462 billion as of September 30, 2022[9][11] - Stock-based compensation plans issued 1,017 shares in 2023, compared to 731 shares in 2022[9][11] - Stratasys completed the merger of MakerBot with Ultimaker, recording a net gain of $39.1 million from the deconsolidation of MakerBot[19][20] - The Company recognized an equity method investment in Ultimaker totaling $105.4 million, representing a 46.5% share in the new entity[20] - As of September 30, 2023, the equity investment in Ultimaker amounted to $88.4 million, down from $100.2 million at December 31, 2022[21] - Stratasys acquired Covestro AG's additive manufacturing materials business for a total consideration of $59.7 million, including $53.8 million in cash payments and $5.2 million in ordinary shares[23][24] - The Covestro acquisition included intangible assets valued at $21.5 million and goodwill of $20.2 million[27] - Goodwill as of September 30, 2023 was $90.2 million, an increase from $65.0 million as of January 1, 2023, primarily due to acquisitions[48] Revenue Breakdown - Total revenues for the three months ended September 30, 2023 were $162.1 million, compared to $162.2 million in the same period in 2022[39] - Total revenues for the nine months ended September 30, 2023 were $471.3 million, compared to $492.2 million in the same period in 2022[39] - Americas region revenues for the three months ended September 30, 2023 were $101.8 million, a decrease from $107.5 million in the same period in 2022[39] - EMEA region revenues for the three months ended September 30, 2023 were $40.6 million, an increase from $31.5 million in the same period in 2022[39] - Asia Pacific region revenues for the three months ended September 30, 2023 were $19.7 million, a decrease from $23.3 million in the same period in 2022[39] - Revenues recognized at a point in time for the three months ended September 30, 2023 were $126.6 million, compared to $125.7 million in the same period in 2022[40] - Revenues recognized over time for the three months ended September 30, 2023 were $35.6 million, compared to $36.5 million in the same period in 2022[40] - Deferred revenue as of September 30, 2023 was $80.3 million, compared to $75.4 million as of December 31, 2022[42] - Remaining Performance Obligations (RPO) as of September 30, 2023 amounted to $93.5 million, with $61.8 million expected to be recognized in the next 12 months[43] Legal and Strategic Matters - Stratasys terminated its merger agreement with Desktop Metal, incurring a $10.0 million termination fee[33] - Nano Dimension launched a hostile tender offer for Stratasys shares, ultimately offering $25.00 per share, but the offer expired without completion[34] - 3D Systems made multiple merger proposals to Stratasys, with the final offer being $7.00 in cash and 1.6387 newly issued shares of 3D Systems per Stratasys share[36] - Stratasys initiated a strategic alternatives process following the termination of the Desktop Metal merger agreement[37] - The Rights Plan expiration date was extended through December 31, 2023, to protect shareholder interests and prevent unauthorized control accumulation[72] - Nano Dimension filed a lawsuit against the company on April 25, 2023, challenging the legality of the Rights Plan, which remains unresolved as of November 15, 2023[73][75] Stock-Based Compensation and Equity - As of September 30, 2023, the company had 1,358,721 stock options outstanding with a weighted average exercise price of $21.03[67] - Unrecognized compensation cost related to unvested stock options was $2.5 million as of September 30, 2023, expected to be recognized over 2.4 years[67] - The unrecognized compensation cost related to unvested RSUs and PSUs as of September 30, 2023, is $51.26 million, expected to be recognized over a weighted-average period of 2.52 years[69] - The weighted average grant date fair value of RSUs and PSUs as of September 30, 2023, is $18.71[69] - The total accumulated other comprehensive loss as of September 30, 2023, is $12.958 million, compared to $14.223 million as of September 30, 2022[70] Foreign Exchange and Hedging - Foreign exchange forward contracts not designated as hedging instruments had a notional amount of $57.2 million as of September 30, 2023, with gains of $1.3 million and $2.6 million recognized for the three and nine months ended September 30, 2023, respectively[61] - The company had $51.6 million in foreign exchange forward contracts designated as cash flow hedges for payroll and operating expenses denominated in NIS as of September 30, 2023[62] - Foreign exchange forward contracts designated as cash flow hedges for revenue included $20.0 million Euro to be converted into U.S. dollars as of September 30, 2023[63] Tax and Geographic Impact - The company's effective tax rate as of September 30, 2023, was impacted by geographic earnings mix, valuation allowance movements, and uncertain tax positions[56] Operational and Regional Impact - The company's manufacturing facility and global headquarters in Israel remain largely unaffected by the ongoing war as of the financial statement date[79]

Stratasys Ltd. (NASDAQ:SSYS) Q2 2023 Earnings Conference Call August 9, 2023 8:30 AM ET Company Participants Yonah Lloyd - VP, IR Yoav Zeif - CEO Eitan Zamir - CFO Conference Call Participants Greg Palm - Craig-Hallum Shannon Cross - Credit Suisse Brian Drab - William Blair Troy Jensen - Lake Street Capital Markets Operator Greetings and welcome to the Stratasys Second Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the fo ...

Q2 2023 Results Speakers Dr. Yoav Zeif, CEO Eitan Zamir, CFO Yonah Lloyd, CCO & VP IR Conference Call and Webcast ...