Stratasys, Ltd. · NASDAQ:SSYS
Stratasys — Q3 2025 Earnings Presentation
20 slides from Stratasys's earnings presentation, Nov 13, 2025
Slide 1: Q3 2025 Results
Q3 2025 Results Speakers Dr. Yoav Zeif, CEO Eitan Zamir, CFO Yonah Lloyd, CCO & VP IR November 13, 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, 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 ▪ Disciplined cost management delivered solid OCF and EPS, demonstrates the underlying strength of our business model ▪ Focused on operational excellence, partnerships, and strategy execution as we advance additive innovation ▪ Customer engagement substantive as we build infrastruc
Slide 6: Customer Success – Aerospace & Defense
Customer Success – Aerospace & Defense Participated in Trident Warrior 25, the U.S. Navy flagship Continued progress with purchases across all fleet experimentation exercise manufacturing-focused systems, such as F3300, F770, ▪ Demonstrated critical role of distributed advanced Fortus450, Neo 800+,
Slide 7: Customer Success – Virtual & Augmented Reality, SAF, Automotive
Customer Success – Virtual & Augmented Reality, SAF, Automotive Leading Social Media, AI, VR/AR Company Buys Four F3300s ▪ One of the world’s largest companies purchased four of our newest F3300 FDM systems ▪ Initial use for large-scale prototyping on automation Andretti Global Partnership Extended
Slide 8: Technology Update – Dental
Technology Update – Dental ▪ Enthused about the strategic investments we're making in TrueDent and related solutions to accelerate growth ▪ Welcomed Chris Kabot as VP & Global Head of Dental. Chris brings exceptional credentials as a world leader in digital dentistry and additive manufacturing, comb
Slide 9: Eitan Zamir, CFO
Eitan Zamir CFO • Q3 Results reflect strong execution by our team • 440bp reduction in adjusted OpEx helped generate solid OCF and EPS • Effectively offset continued top line and gross margin pressure
Slide 10: Q3 2025 Revenues
Q3 2025 Revenues Quarterly Trend Revenues Breakdown Products Services Consumables Systems Services 150.4 150.4 140.0 138.1 137.0 140.0 136.0 138.1 137.0 136.0 45.3 45.3 45.9 42.2 43.3 42.9 45.9 42.2 43.3 42.9 31.7 46.7 31.2 30.6 32.1 94.1 105.1 93.8 94.8 94.1 62.4 58.4 62.6 64.2 62.0 Q3'24 Q4'24 Q1'
Slide 11: Q3 2025 Gross Margins
Q3 2025 Gross Margins GAAP Non-GAAP Products Gross Margin Total Gross Margin Services Gross Margin 55.1% 54.7% 54.3% 53.4% 52.4% 49.3% 47.4% 49.0% 49.8% 49.6% 50.0% 49.3% 47.4% 47.2% 48.7% 49.6% 49.6% 47.0% 48.3% 47.7% 44.8% 44.6% 44.4% 43.8% 44.8% 40.5% 44.3% 45.3% 46.3% 43.1% 38.4% 41.0% 35.6% 35.
Slide 12: Q3 2025 Operating Expenses
Q3 2025 Operating Expenses Continued improvement driven by cost savings initiatives GAAP Non-GAAP Operating Expenses Operating Expenses (absolute and as a percentage of revenues) (absolute and as a percentage of revenues) 63.0% 57.5% 49.7% 41.0% 45.3% 88.2 78.8 69.6 62.0 Q3'24 Q3'25 Q3'24 Q3'25 Note
Slide 13: Q3 2025 Operating, Net and EBITDA
Q3 2025 Operating, Net and EBITDA GAAP Operating Loss Non-GAAP Operating Income (Loss) (0.1%) in Q3’24 vs 0.1% in Q3’25 out of total revenue 0.1 (25.5) (22.7) )0.1( Q3’24 Q3’25 Q3’24 Q3’25 GAAP Net Loss* Non-GAAP Net Income EPS diluted ($0.37) in Q3’24 vs ($0.65) in Q3’25 EPS diluted $0.01 in Q3’24
Slide 14: Strong Balance Sheet – $255M and No Debt
Strong Balance Sheet – $255M and No Debt Cash Flow from Operating Activities Balance Sheet Items Q3-24 Q2-25 Q3-25 Cash and Cash Equivalents and Short- 144.0 254.6 255.0 term deposits 6.9 Accounts Receivable 153.7 157.9 151.3 Inventories 195.2 164.6 159.3 (4.5) Net Working Capital 349.9 448.8 438.4
Slide 15: 2025 Full-Year Outlook
2025 Full-Year Outlook $550M – $560M 46.7% – 47.0% $248M – $251M Non-GAAP Non-GAAP Revenues Gross Margins Operating Expenses $11M – $13M 1.5% – 2.0% $30M – $32M $20M – $25M $0.13 – $0.16 Adjusted Net Income Non-GAAP Adjusted EPS diluted Adjusted EBITDA CAPEX Operating Margins ($110M) - ($99M) 5.4%-5
Slide 16: Summary
Dr. Yoav Zeif CEO Summary ▪ Encouraging signs in the specific verticals and applications where we are focusing ▪ Recurring revenue stability an important foundation to build growth ▪ Poised to seize opportunities as the industry inevitably improves ▪ Margin discipline and cost actions protect profit
Slide 17: Thank You
THANK YOU Make additive work for you
Slide 18: Appendix – Comparison of Q3 2025 to Q3 2024 Key Metrics
Appendix – Comparison of Q3 2025 to Q3 2024 Key Metrics GAAP Non-GAAP Q3-24 Q3-25 Change Y/Y Q3-24 Q3-25 Change Y/Y Total Revenue 140.0 137.0 -2.1% 140.0 137.0 -2.1% Gross Profit 62.7 56.1 (6.6) 69.5 62.1 (7.4) ▪% Margin 44.8% 41.0% -3.9% 49.6% 45.3% -4.3% Operating Income (Loss) (25.5) (22.7) 2.8 (
Slide 19: Appendix – Reconciliation of GAAP to Non-GAAP Results of Operations
Appendix – Reconciliation of GAAP to Non-GAAP Results of Operations Three Months Ended September 30, 2025 Three Months Ended September 30, 2024 GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP Gross Profit (1) $ 56,092 $ 5,971 $ 62,063 $ 62,730 $ 6,768 $ 69,498 Operating income (loss) (1,2) (22,7
Slide 20: Appendix – Reconciliation of GAAP Net Loss to Adjusted EBITDA
Appendix – Reconciliation of GAAP Net Loss to Adjusted EBITDA Three Months Ended September 30, 2025 2024 Net loss $ (55,634) $ (26,614) Financial income, net (2,656) (1,009) Income tax expenses 524 842 Equity method related expenses and impairment 35,062 1,316 Depreciation expenses 5,085 5,210 Amort