Stratasys ( (SSYS) ) has released its Q3 earnings. Here is a breakdown of the information Stratasys presented to its investors.
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Stratasys Ltd. is a leader in the polymer 3D printing industry, providing innovative solutions across sectors such as aerospace, automotive, and healthcare. The company is renowned for its smart and connected 3D printers, software ecosystem, and parts-on-demand services, which enhance product design and manufacturing efficiency.
In its third-quarter 2024 financial results, Stratasys reported revenue of $140 million, a decrease from $162.1 million in the same quarter last year, citing the impact of the macroeconomic environment on customer spending. However, the company saw improved gross margins and a return to non-GAAP profitability, with non-GAAP net income of $0.4 million.
Key highlights of the report include an improvement in GAAP gross margins by 430 basis points to 44.8%, and non-GAAP gross margins rising to 49.6%. Despite a GAAP net loss of $26.6 million, Stratasys achieved non-GAAP profitability, reflecting successful cost optimization and strategic focus on high-growth areas. The company also noted that recurring consumables revenue continues to grow, signaling robust printer utilization.
Looking ahead, Stratasys is optimistic about its financial outlook for 2024. The company has raised its full-year margin and profitability expectations, projecting revenue between $570 million and $580 million and non-GAAP net income of $2.1 million to $5.0 million. Stratasys aims to capitalize on its restructuring efforts and is poised for increased growth and profitability in 2025, anticipating a favorable shift in market conditions.
