Business
Stratasys Releases Third Quarter 2021 Financial Results
Revenue of $159.0 million GAAP net loss of $18.1 million, or $0.28 per diluted share, and non-GAAP net income of $0.5 million, or $0.01 per diluted share
About this update from Stratasys, Ltd.
[{"type":"text","content":"\n\nRevenue of $159.0 million\n\n\nGAAP net loss of $18.1 million, or $0.28 per diluted share, and non-GAAP net income of $0.5 million, or $0.01 per diluted share\n\n\nGenerated $3.0 million of cash from operations\n\n\nSecured two large, end-use part manufacturing contracts with the US Navy and a leading, global OEM\n\n\n$519.9 million cash, cash equivalents and short-term deposits, and no debt at quarter end\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 third quarter of 2021.\n\nThird Quarter 2021 Financial Results Summary Compared to Third Quarter 2020:\n\n\nRevenue of $159.0 million compared to $127.9 million.\n\n\nGAAP gross margin was 42.9%, compared to 38.9%.\n\n\nNon-GAAP gross margin was 48.2%, compared to 46.8%.\n\n\nGAAP operating loss was $21.9 million, compared to an operating loss of $404.3 million.\n\n\nNon-GAAP operating income was $1.8 million, compared to an operating loss of $1.0 million.\n\n\nGAAP net loss was $18.1 million, or $0.28 per diluted share, compared to a net loss of $405.1 million, or $7.35 per diluted share.\n\n\nNon-GAAP net income of $0.5 million, or $0.01 per diluted share, compared to a net loss of $3.0 million, or $0.05 per diluted share.\n\n\nAdjusted EBITDA was $7.8 million, compared to $5.2 million.\n\n\nCash generated from operations of $3.0 million, compared to $2.6 million.\n\n\nDr. Yoav Zeif, Stratasys’ Chief Executive Officer stated, “We are at an inflection point for additive manufacturing. Industries appreciate the many benefits of our technologies and are increasingly adding 3D printing to their production plans, driving the shift from prototyping to mass production. Our third quarter was highlighted by revenue growth of 24.3% and systems sales growth of 34.7% year-over-year, with contributions across all regions and all business lines. We achieved a number of important manufacturing-focused milestones, including the securing of contracts with the US Navy and a major international OEM, specifically for end-use part production.”\n\nDr. Zeif continued, “Our vision of becoming the first choice for polymer 3D printing solutions with a focus on manufacturing continues to progress. We are executing on that goal by leveraging our outstanding reputation for excelle...