Stratasys (SSYS) has released an update.
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Stratasys Ltd., a leader in 3D printing solutions, has reported a revenue decline in Q2 2024 to $138 million from Q2 2023’s $159.8 million, attributing the drop to the current economic climate’s effect on customer spending. Despite a GAAP net loss of $25.7 million, the company saw a year-over-year increase in recurring consumables revenue and is initiating a restructuring plan expected to save approximately $40 million annually. The updated 2024 financial outlook anticipates revenues between $570 million to $580 million, with strategic focuses to enhance market positioning and shareholder value.
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