Business
Stratasys Releases First Quarter 2023 Financial Results
Revenue of $149.4 million, 2.6% lower versus first quarter 2022 at constant currency and adjusted for divestitures Highest consumables quarter in Company’s
About this update from Stratasys, Ltd.
[{"type":"text","content":"\n\nRevenue of $149.4 million, 2.6% lower versus first quarter 2022 at constant currency and adjusted for divestitures\n\n\n\nHighest consumables quarter in Company’s history, grew 7.8% over prior year quarter at constant currency and adjusted for divestitures\n\n\n\nGAAP net loss of $22.2 million, or $0.33 per diluted share, and non-GAAP net income of $1.1 million, or $0.02 per diluted share\n\n\n\nSeventh straight quarter of adjusted profitability\n\n\n\nIncreasing 2023 revenue outlook and reiterating operational cash flow generation\n\n\n\nIntroducing medium-term expectations\n\n\n\n MINNEAPOLIS & REHOVOT, Israel--(BUSINESS WIRE)--\nStratasys Ltd. (Nasdaq: SSYS), a leader in polymer 3D printing solutions, today announced financial results for the first quarter 2023.\n\n\nFirst Quarter 2023 Financial Results Compared to First Quarter 2022:\n\n\n\nRevenue of $149.4 million, 8.6% lower versus first quarter 2022.\n\n\n\nGAAP gross margin of 43.8%, compared to 42.6%.\n\n\n\nNon-GAAP gross margin of 47.3%, compared to 47.3%.\n\n\n\nGAAP operating loss of $16.8 million, compared to an operating loss of $19.6 million.\n\n\n\nNon-GAAP operating income of $1.5 million, compared to non-GAAP operating income of $2.0 million.\n\n\n\nGAAP net loss of $22.2 million, or $0.33 per diluted share, compared to a net loss of $20.9 million, or $0.32 per diluted share.\n\n\n\nNon-GAAP net income of $1.1 million, or $0.02 per diluted share, compared to non-GAAP net income of $1.2 million, or $0.02 per diluted share.\n\n\n\nAdjusted EBITDA of $7.0 million, compared to $8.1 million.\n\n\n\nPlanned inventory spending resulted in cash used in operations of $17.9 million, compared to cash used in operations of $16.1 million in the year-ago quarter.\n\n\n\nDr. Yoav Zeif, Stratasys’ Chief Executive Officer stated, “Stratasys continues to execute our winning strategy, driven by our broad, global, diverse set of systems, materials, and software solutions. Utilization of our systems is growing, resulting in our highest ever quarter for recurring revenues from both consumables and customer service, even as clients’ capital budgets remain constrained. Our margin profile remains strong, and we delivered our seventh consecutive quarter of positive adjusted earnings per share, demonstrating the resiliency of our business model.”\n\n\nDr. Zeif continued, “Engagemen...