Slide 1: Q4 and FY 2025 Results
Q4 and FY 2025 Results Speakers Dr. Yoav Zeif, CEO Eitan Zamir, CFO Yonah Lloyd, CCO & VP IR March 5, 2026 Make additive work for you
Slide 2: Conference Call and Webcast Link
Conference Call and Webcast Link US Toll-Free Dial-In 1-877-407-0619 International Dial-In +1-412-902-1012 Live Webcast and Replay Make additive work for you
Slide 3: Forward-Looking Statements
Forward-Looking Statements Cautionary Statement Regarding Forward-Looking Statements The statements in this slide presentation regarding Stratasys' strategy, and the statements regarding its projected future financial performance, including the financial guidance concerning its expected results for
Slide 4: Use of Non-GAAP Financial Information
Use of Non-GAAP Financial Information Use of Non-GAAP Financial Measures The non-GAAP data included herein, but not limited, which excludes certain items as described below, are non-GAAP financial measures. Our management believes that these non-GAAP financial measures are useful information for inv
Slide 5: Dr. Yoav Zeif, CEO
Dr. Yoav Zeif CEO ▪ Operational discipline, solid cash flow, margins and profitability, and improving our position in focus target areas demonstrate the resilience distinguishing Stratasys. ▪ 37.5% of revenues came from MFG in 2025, up from 36% in 2024 and from just over 25% in 2020. Continued growt
Slide 6: Customer Success – Aerospace & Defense
Customer Success – Aerospace & Defense – Largest Contributing Target Sector ▪ Airbus – Transformational Partnership ‒ Produced over 25,000 flight-ready parts in 2025, total certified active Stratasys parts now 200,000+. True production-scale AM delivers 43% weight reduction, 85% lead time reduction,
Slide 7: Customer Success – Automotive Expansion and F1 Championship
Customer Success – Automotive Expansion and F1 Championship Subaru of America Rivian McLaren F1 ▪ One of the first to Implement ▪ Extensive deployment of 28 ▪ Proud to congratulate our new T25 high speed head for Stratasys systems partner McLaren F1 on winning the F770 printer. demonstrates our the
Slide 8: Partnerships in Software, Workflow & Go-To-Market
Partnerships in Software, Workflow & Go-To-Market Novineer PostProcess Hawk Ridge Systems ▪ Leading generative modeling, ▪ PostProcess revolutionizing AM ▪ Leading, award-winning provider design and simulation company with the only automated, of AM engineering and MFG integrating NoviPath technology
Slide 9: Medical Advisory Board
Medical Advisory Board – Building on Industrial Advisory Board Success ▪ New Medical Advisory Board (MAB) builds on success of Industrial Customer Advisory Board (CAB) of fourteen leaders such as Boeing, Toyota, Lockheed-Martin and TE Connectivity, to deepen innovation and collaboration to advance a
Slide 10: Eitan Zamir, CFO
Eitan Zamir CFO • Fourth quarter results underscore operational discipline and financial resilience in 2025. • 2025 delivered positive adjusted operating income and EBITDA, strong OCF generation, and solid adjusted EPS despite persistent revenue headwinds and margin pressures that characterized the
Slide 11: Q4 2025 Revenue
Q4 2025 Revenue Quarterly Trend Revenues – Q4’25 Product Service Revenue Y/Y 150.4 136.0 138.1 137.0 140.0 Product - $97.6M -7.1% 45.3 42.2 43.3 42.9 42.4 ▪ Systems - $37.8M -19.1% ▪ Consumables - $59.8M 2.4% 105.1 93.8 94.8 94.1 97.6 Services - $42.4M -6.4% Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 ▪ Customer
Slide 12: FY 2025 Revenue
FY 2025 Revenue Yearly Trend Revenues – 2025 Product Service Y/Y Revenue 651.5* ** 607.2 627.6 572.5 Product - $380.3M -3.0% 551.1 199.4 193.9 189.7 180.5 170.8 ▪ Systems - $131.6M -6.2% ▪ Consumables - $248.7M -1.2% 417.6 452.1 433.7 392.0 380.3 Services - $170.8M -5.4% ▪ Customer Support - $119.0M
Slide 13: Q4 2025 Gross Margins
Q4 2025 Gross Margins GAAP Non-GAAP Products Gross Margin Total Gross Margin Services Gross Margin 54.7% 54.3% 53.4% 52.4% 49.0% 49.6% 48.7% 50.2% 49.6% 48.3% 47.7% 47.0% 44.3% 46.3% 46.3% 43.1% 45.3% 41.0% 40.2% 40.7% 37.7% 37.4% 36.8% 33.9% 32.5% 33.1% 30.8% 34.5% 29.7% 27.6% Q4-24 Q1-25 Q2-25 Q3-
Slide 14: FY 2025 Gross Margins
FY 2025 Gross Margins GAAP Non-GAAP Products Gross Margin Total Gross Margin Services Gross Margin 56.3% 54.7% 54.9% 52.8% 52.9% 49.5% 49.5% 48.1% 47.8% 49.2% 47.8% 48.0% 48.2% 44.9% 45.7% 46.9% 42.4% 42.5% 42.8% 41.2% 38.1% 36.9% 34.7% 32.7% 33.5% 30.8% 29.6% 28.2% 29.3% 31.3% 2021 2022 2023 2024 2
Slide 15: Q4 2025 Operating Expenses
Q4 2025 Operating Expenses - Significant improvement driven by cost saving initiatives GAAP Non-GAAP Operating Expenses Operating Expenses (absolute and as a percentage of revenues) (absolute and as a percentage of revenues) 52.8% 51.6% 43.4% 43.4% 79.4 72.2 65.2 60.8 Q4'24 Q4'25 Q4'24 Q4'25 Note: $
Slide 16: FY 2025 Operating Expenses
FY 2025 Operating Expenses GAAP Non-GAAP Operating Expenses Operating Expenses (absolute and as a percentage of revenues) (absolute and as a percentage of revenues) 59.8% 54.4% 48.4% 45.4% 342.5 299.8 276.8 250.1 342.5 299.8 276.8 250.1 2024 2025 2024 2025 Note: $ in millions unless noted otherwise.
Slide 17: Q4 2025 Operating, Net and EBITDA
Q4 2025 Operating, Net and EBITDA GAAP Operating Loss Non-GAAP Operating Income 6.3% in Q4’24 vs 2.9% in Q4’25 out of total revenue (9.7) (20.8) 9.4 4.1 Q4’24 Q4’25 Q4’24 Q4’25 GAAP Net Loss* Non-GAAP Net Income EPS diluted ($0.59) in Q4’24 vs ($0.22) in Q4’25 EPS diluted $0.12 in Q4’24 vs $0.07 in
Slide 18: FY 2025 Operating, Net and EBITDA
FY 2025 Operating, Net and EBITDA - Operational efficiencies drive improved profitability GAAP Operating Loss Non-GAAP Operating Income 0.9% in 2024 vs 1.5% in 2025 out of total revenue 4.9 8.3 (85.7) (72.5) 2024 2025 Non-GAAP Net Income 2024 2025 EPS diluted $0.06 in 2024 vs $0.15 in 2025 GAAP Net
Slide 19: Strong Balance Sheet – $244.5M and No Debt
Strong Balance Sheet – $244.5M and No Debt Cash Flow from Operating Activities Balance Sheet Items Q4-24 Q3-25 Q4-25 Cash and Cash Equivalents and Short- 150.7 255.0 244.5 term deposits Accounts Receivable 153.0 151.3 160.5 15.1 Inventories 179.8 159.3 145.2 7.4 7.8 4.8 Net Working Capital 345.7 438
Slide 20: 2026 Full-Year Outlook
2026 Full-Year Outlook $565M – $575M 46.7% – 47.1% $260M – $262M Non-GAAP Non-GAAP Revenues Gross Margins Operating Expenses Includes ~$7M adverse impact from FX & Tariffs Includes ~$10M adverse impact from FX $8M – $12.5M 0.7% – 1.5% $25M – $30M $20M – $25M $0.09 – $0.14 Adjusted Net Income Adjuste
Slide 21: Growing in High-Requirement Sectors
Dr. Yoav Zeif CEO Growing in High-Requirement Sectors ▪ Confident in executing through challenging conditions to preserve our capacity to lead and increase profits when market dynamics improve. ▪ Progress in target industries of aerospace/defense, auto, dental, medical and precision industrial compo
Slide 22: Thank You
THANK YOU Make additive work for you
Slide 23: Appendix – Comparison of Q4 2025 to Q4 2024 Key Metrics
Appendix – Comparison of Q4 2025 to Q4 2024 Key Metrics GAAP Non-GAAP Q4-24 Q4-25 Change Y/Y Q4-24 Q4-25 Change Y/Y Total Revenue 150.4 140.0 -6.9% 150.4 140.0 -6.9% Gross Profit 69.7 51.5 (18.2) 74.6 64.9 (9.7) ▪% Margin 46.3% 36.8% -9.5% 49.6% 46.3% -3.3% Operating Income (Loss) (9.7) (20.8) (11.1
Slide 24: Appendix – Comparison of 2025 to 2024 Key Metrics
Appendix – Comparison of 2025 to 2024 Key Metrics GAAP Non-GAAP 2024 2025 Change Y/Y 2024 2025 Change Y/Y Total Revenue 572.5 551.1 -3.7% 572.5 551.1 -3.7% Gross Profit 256.8 227.3 (29.5) 281.8 258.4 (23.4) ▪% Margin 44.9% 41.2% -3.7% 49.2% 46.9% -2.3% Operating Income (Loss) (85.7) (72.5) 13.2 4.9
Slide 25: Appendix – Reconciliation of GAAP to Non-GAAP Results of Operations
Appendix – Reconciliation of GAAP to Non-GAAP Results of Operations Three Months Ended December 31, 2025 Three Months Ended December 31, 2024 GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP Gross Profit (1) $ 51,461 $ 13,393 $ 64,854 $ 69,689 $ 4,866 $ 74,555 Operating income (loss) (1,2) (20,76
Slide 26: Appendix – Reconciliation of GAAP Net Loss to Adjusted EBITDA
Appendix – Reconciliation of GAAP Net Loss to Adjusted EBITDA Three Months Ended December 31, 2025 2024 Net loss $ (18,852) $ (41,943) Financial income, net (2,971) (176) Income tax expenses 1,062 653 Equity method related expenses and impairment - 31,766 Depreciation expenses 5,190 5,033 Amortizati