Slide 1: Q1 2025 Results
Q1 2025 Results Speakers Dr. Yoav Zeif, CEO Eitan Zamir, CFO Yonah Lloyd, CCO & VP IR May 8, 2025 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
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, 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 shareh
Slide 5: Dr. Yoav Zeif
Dr. Yoav Zeif CEO ▪ Solid first quarter demonstrates resilience of recurring revenue model and high utilization across customer base ▪ Consumables grew 7% sequentially, underscoring the enduring value placed in Stratasys’ additive manufacturing systems ▪ Strategic positioning excellent, with introdu
Slide 6: Technology and Customer Update
Technology and Customer Update Launched Neo 800+ SLA Printer Launched 10th anniversary new ▪ Significant enhancements for large, edition of Fortus 450mc Gen 3 printer accurate, hi-fidelity parts. ▪ Factory-floor-ready solution for high- ▪ Boosts speed up to 50%, strength tooling and production. maxi
Slide 7: Materials Update
Materials Update ▪ Launched Two Antero Materials developed in ▪ Launched PolyJet ToughONE advanced material collaboration with industry leaders including Northrop addressing key point of feedback from our Grumman, Boeing and BAE Systems, and defense customers – providing PolyJet with functional orga
Slide 8: Eitan Zamir
Eitan Zamir CFO ▪ Q1 demonstrated the continued resilience of our operating model – a key differentiator relative to competitors ▪ Significant OpEx savings and bottom-line profit despite pressure on revenues, thanks to fast actions of our team ▪ Solid results reflect sequential growth in consumables
Slide 9: Q1 2025 Revenues
Q1 2025 Revenues Quarterly Trend Revenue Breakdown Products Services Consumables Systems Services 150.4 150.4 144.1 140.0 144.1 138.0 140.0 138.0 136.0 136.0 45.3 45.3 44.9 44.4 45.9 44.9 44.4 45.9 42.2 42.2 32.9 29.0 31.7 46.7 31.2 99.2 93.6 94.1 105.1 93.8 66.3 64.6 62.4 58.4 62.6 Q1'24 Q2'24 Q3'2
Slide 10: Q1 2025 Gross Margins
Q1 2025 Gross Margins GAAP Non-GAAP Products Gross Margin Total Gross Margin Services Gross Margin 55.5% 55.6% 55.1% 54.7% 53.4% 49.8% 47.4% 50.0% 49.8% 49.3% 50.0% 49.0% 49.3% 47.4% 47.2% 49.0% 49.6% 49.6% 49.6% 48.6% 48.3% 44.6% 44.6% 44.4% 44.8% 44.8% 43.8% 44.4% 40.5% 43.8% 46.3% 44.3% 38.4% 35.
Slide 11: Q1 2025 Operating Expenses
Q1 2025 Operating Expenses Significant improvement driven by our cost savings initiatives GAAP Non-GAAP Operating Expenses Operating Expenses (absolute and as a percentage of revenues) (absolute and as a percentage of revenues) 61.3% 49.5% 41.0% 53.4% 46.0% 88.4 71.2 72.6 62.6 Q1'24 Q1'25 Q1'24 Q1'2
Slide 12: Q1 2025 Operating and Earnings
Q1 2025 Operating and Earnings GAAP Operating Loss Non-GAAP Operating Income (Loss) (0.8%) in Q1’24 vs 2.2% in Q1’25 out of total revenue 3.0 (24.5) (12.4) )1.2( Q1’24 Q1’25 Q1’24 Q1’25 GAAP Net Loss EPS diluted ($0.37) in Q1’24 vs ($0.18) in Q1’25 Non-GAAP Net Income (Loss) EPS diluted ($0.02) in Q
Slide 13: Strong Balance Sheet Positioned for Value-Enhancing Opportunities
Strong Balance Sheet Positioned for Value-Enhancing Opportunities Q2 Fortissimo Capital Investment of $120M Bolsters Cash Position to $270M Cash Flow from Operating Activities Balance Sheet Items Q1-24 Q4-24 Q1-25 Cash, Cash Equivalents and Short-Term Deposits 161.1 150.7 150.1 7.3 Accounts Receivab
Slide 14: 2025 Full-Year Outlook – Raising EPS
2025 Full-Year Outlook – Raising EPS $570M – $585M 48.8% – 49.2% $254M – $257M Revenues growing sequentially Non-GAAP Non-GAAP each quarter through the year Gross Margins Operating Expenses $24M – $30M 4.0% – 5.0% $44M – $50M $25M – $30M $0.30 – $0.37 Non-GAAP Adjusted EPS diluted Adjusted EBITDA CA
Slide 15: Summary
Dr. Yoav Zeif CEO Summary ▪ Q1 2025 establishes a solid foundation for the year ahead ▪ Stratasys is exceptionally well positioned thanks to cost management, product innovation and growing integration into our customers' manufacturing workflows ▪ Strong financial position expands our capability to p
Slide 16: Thank You
THANK YOU Make additive work for you
Slide 17: Appendix – Comparison of Q1 2025 to Q1 2024 Key Metrics
Appendix – Comparison of Q1 2025 to Q1 2024 Key Metrics GAAP Non-GAAP Q1-24 Q1-25 Change Y/Y Q1-24 Q1-25 Change Y/Y Total Revenue 144.1 136.0 -5.6% 144.1 136.0 -5.6% Gross Profit 63.9 60.2 (3.7) 70.0 65.6 (4.4) ▪ % Margin 44.4% 44.3% -0.1% 48.6% 48.3% -0.3% Operating Income (Loss) (24.5) (12.4) 12.1
Slide 18: Appendix - Reconciliation of GAAP to Non-GAAP Results of Operations
Appendix - Reconciliation of GAAP to Non-GAAP Results of Operations Three Months Ended March 31, 2025 Three Months Ended March 31, 2024 GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP Gross Profit (1) $ 60,239 $ 5,410 $ 65,649 $ 63,897 $ 6,139 $ 70,036 Operating income (loss) (1,2) (12,404) 15,4
Slide 19: Appendix - Reconciliation of GAAP Net Loss to Adjusted EBITDA
Appendix - Reconciliation of GAAP Net Loss to Adjusted EBITDA Three Months Ended March 31, 2025 2024 Net loss $ (13,054) $ (25,983) Financial income, net (1,473) (1,217) Income tax expenses 455 716 Share in losses of associated companies 1,668 2,031 Depreciation expense 5,124 5,305 Amortization expe