Business
Stratasys Releases Second Quarter 2023 Financial Results
Revenue of $159.8 million 1.6% higher than second quarter 2022 excluding MakerBot (2.0% higher at constant currency) Highest-ever recurring revenue in
About this update from Stratasys, Ltd.
[{"type":"text","content":"\n\nRevenue of $159.8 million 1.6% higher than second quarter 2022 excluding MakerBot (2.0% higher at constant currency)\n\n\n\nHighest-ever recurring revenue in Consumables and Customer Service\n\n\n\nGAAP net loss of $38.6 million, or $0.56 per diluted share which includes one-time extraordinary costs, and non-GAAP net income of $2.5 million, or $0.04 per diluted share\n\n\n\nAdjusted EBITDA grew 43% to $10.6 million year-over-year\n\n\n\nEighth straight quarter of adjusted profitability\n\n\n\nReiterating 2023 and medium-term revenue outlook\n\n\n\n MINNEAPOLIS & REHOVOT, Israel--(BUSINESS WIRE)--\nStratasys Ltd. (Nasdaq: SSYS) (“Stratasys” or the “Company”), a leader in polymer 3D printing solutions, today announced financial results for the second quarter 2023.\n\n\nSecond Quarter 2023 Financial Results Compared to Second Quarter 2022:\n\n\n\nRevenue of $159.8 million compared to $166.6 million in second quarter 2022.\n\n\n\nGAAP gross margin of 41.5%, compared to 40.5%.\n\n\n\nNon-GAAP gross margin of 48.5%, compared to 47.6%.\n\n\n\nGAAP operating loss of $33.7 million, which includes one-time extraordinary costs related to prospective and potential mergers and acquisitions, defense against hostile tender offer, proxy contest and related professional fees, compared to an operating loss of $23.5 million.\n\n\n\nNon-GAAP operating income of $5.0 million, compared to non-GAAP operating income of $1.9 million.\n\n\n\nGAAP net loss of $38.6 million, or $0.56 per diluted share which includes the one-time costs noted above, compared to a net loss of $24.4 million, or $0.37 per diluted share.\n\n\n\nNon-GAAP net income of $2.5 million, or $0.04 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 $10.6 million, compared to $7.4 million.\n\n\n\nCash used in operations of $23.2 million, compared to cash used in operations of $22.8 million in the year-ago quarter, due to the timing of annual incentive payments, increases in accounts receivable, costs related to prospective and potential mergers and acquisitions, defense against hostile tender offer, proxy contest and related professional fees.\n\n\n\nDr. Yoav Zeif, Stratasys’ Chief Executive Officer stated, “Leveraging our position in polymer additive manufacturing, resilient business model and strong financial pro...