Stratasys(US:SSYS)2022-11-10 16:59Financial Performance - Total revenue reached $162.2 million, a 2% increase year-over-year, or 7.8% increase adjusted for FX and divestitures[14, 9, 16] - OEM systems revenue grew by 18.9% year-over-year, marking the highest Q3 in six years[9] - Gross profit increased to $70.7 million (GAAP) and $78.7 million (Non-GAAP), with gross margins improving to 43.6% (GAAP) and 48.5% (Non-GAAP)[14] - GAAP operating loss improved from $(21.9) million to $(15.6) million, while Non-GAAP operating income increased from $1.8 million to $4.5 million[14, 25] - GAAP net loss improved from $(18.1) million to $18.7 million, while Non-GAAP net income increased from $0.5 million to $3.3 million[14, 25] Strategic Investments and Acquisitions - Stratasys agreed to acquire Covestro's AM materials business, adding a portfolio of 60 materials and hundreds of patents[10] - A $10 million strategic investment was made in Axial3D to enhance AI-powered algorithms for 3D printing model preparation[12] Product and Material Innovations - New validated industrial materials were introduced for the Origin One 3D printer, including P3 Stretch 475 from Henkel Loctite and P3 Deflect 120 from Evonik[11] - FDA 510(k) clearance was obtained for a revolutionary resin for the J5 DentaJet printer for dentures, targeting a $5 billion addressable market[11] Outlook - The full-year 2022 revenue growth is expected to be approximately 10% year-over-year, adjusted for FX and divestitures, with revenue between $648 million and $652 million[28] - Non-GAAP operating margins are expected to be slightly above 2%, with a long-term target of double-digit margins[28]