Stratasys, Ltd. · NASDAQ:SSYS
Stratasys — Q4 2019 Earnings Presentation
15 slides from Stratasys's earnings presentation, Feb 26, 2020
Slide 1: Financial Results Conference Call
Financial Results Conference Call stratasys | res February 26, 2020 2s stratasys
Slide 2: Q4 & FY 2019 Conference call & webcast details
Q4 & FY 2019 Conference call & webcast details Speakers * Yoav Zeif -CEO « Lilach Payorski - CFO * Yonah Lloyd — VP, Investor Relations Live webcast and replay: bitas Vedae media-cerver com/mmc/n/fici eeauseeal Live dial-in information Primary dial-in: +1-866-394-5776 International dial-in: +1-409-3
Slide 3: Forward looking statements
Forward looking statements The statements in this presentation regarding Stratasys’ strategy, and the statements regarding its projected future financial performance, including the financial guidance conceming its expected results for 2020, are forward-looking statements reflecting management's curr
Slide 4: Use of non-GAAP financial information
Use of non-GAAP financial information The non-GAAP data that appears below, 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 investors and shareholders of our company in gauging
Slide 5: Yoav Zeif, CEO: Opening Remarks
Yoav Zeif CEO Opening Remarks Conducting in-depth review of business Solid foundation for growth including innovative product portfolio, disciplined financial management, and industry’s leading distribution partners Extremely optimistic in outlook for Stratasys with significant near and long term va
Slide 6: Financial Update
Slide 7: GAAP and Non-GAAP results summary
Financial Results GAAP Non-GAAP Q4-19 Change Y/Y Q4-19 Change Y/Y Total Revenue 177.1 Gross Profit 92.5 % Margin 52.2% 52.4% 0.2% Operating Profit (Loss) 12.8 10.2 (2.6) % Margin 7.2% 6.3% 0.9% Net Income (Loss) attributed to SSYS Ltd. 11.3 10.0 (1.3) % Margin 64% 6. 2%, 02% Diluted EPS 0.21 0.18 (0
Slide 8: Revenue Quarterly Trend
Financial Results Revenue Quarterly Trend 1774 163.2 155.3 52.6 124.5 Q4"18 $ in millions unless noted otherwise Qi 19 Q2"9 mService mProduct 157.5 Q3' 19 160.2 50.2 a28 51.1 51.2 105.1 110.3 106.3 109.0 Q4'19 Revenue YIY ota Product -13% -12% System -21% -20% Consumables -3% -2% Service -3% -2% Cus
Slide 9: Gross margin trends
Financial Results Gross margin trends GAAP 58.0% 57.3% 58.3% 57.0% 949% __——* + 49.1% 49.2% 49.7% 49.2% 49.1% o—_e_ ee 36.1% 33.9% 923 30.9% 30.1% é ai1g = 119-249 319 419 Non-GAAP 61.8% 61.1% 62.3% 61.6% Soe ee 52.2% 52.0% 52.5% 52.4% 52.4% o_o ——_o—____o—__s 36.3% 34.5% > ae 31.7% 32.9% Q4"18 Qi19
Slide 10: Operating expenses and operating margin trends
Financial Results Operating expenses and operating margin trends 10% ~s 90.8 81.9 7.2% — 6.3% “ - 5.1% Q418 Q4"19 GAAP Operating Expenses 0.5% 2.1% 21% 2.0% 3.8% SS 418 Qi19 Q219 319 419 —®— GAAP Operating Margin —®= Non-GAAP Operating Margin Q418 Q4"19 Non-GAAP Operating Expenses
Slide 11: Balance sheet summary and cash flow from operations
Financial Results Balance sheet summary and cash flow from operations 18.7 Q4-18 3-19 4-19 Cash and Cash Equivalents and Short term deposits 393.2 347.1 321.8 Accounts Receivable 138.1 133.7 132.6 Inventories 123.5 164.7 168.5 Net Working Capital 508.4 509.0 499.2 aang Q419 Cash Flow From Operating
Slide 12: Lilach Payorski, CFO: Financial Summary
Lilach Payorski CF O Financial Summary Pleased with the full year growth we observed in target verticals in the Americas Successfully drove efficiencies through expense control, demonstrated by stable gross margins and ability to meet profitability objectives while investing in new products Balance
Slide 13: Revenue and Earnings Guidance
Revenue and Earnings Guidance Revenue (M) $620 - $680 GAAP Diluted EPS ($0.54) — ($0.33) Non-GAAP Diluted EPS $0.45 - $0.60 $ in millions unless noted otherwise Rec: iliation of GAAP to Non-GAAP Guidance ($ in millions, except per share data) Revenue GAAP Net Loss (1) Stock-Based Compensation Expens
Slide 14: Thank You
Thank You Make it Better. Aenean yonayanees efrataqnic
Slide 15: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Results of operations Stratasys Ltd ‘Three Months Ended December 31, 2019 Three Months Ended December 31, 2018 innea 73.080 8.204 360058 380.000 40 02408 ening ore 238) (12 eae 3420 10.88 (303) wears san et income Loss) atibutabe to Stratasys Lid (1.2.2) (2780) ra74t