Stratasys Posts 2022 Results with +7.3% Year-on-Year Revenue

Stratasys posted its 2022 financial results with revenue of $651.5 million, up +7.3% year-on-year and +11.4% at a unified exchange rate and adjusted for disposals. It is also the sixth quarter in a row when the company records increases on an annual basis. Taking into account the information on the revenues generated by the second leading company in the 3D printing industry – 3D Systems, which achieved revenues lower by over USD 100 million (USD 538 million), this makes Stratasys the undisputed market leader in the additive industry.

In 2022, Stratasys generated over $40 million more than in 2021 ($607.2 million). The GAAP gross margin was 42.4% versus 42.8% in the prior year, while the gross margin was 48.0% versus 47.8%. The company’s GAAP operating loss was -$57.2 million compared to -$79.2 million in 2021, and its non-GAAP operating income was $13.5 million compared to -$1.7 million in 2021 Adjusted EBITDA amounted to USD 36.1 million compared to USD 22.6 million.

At the same time, it is worth noting that despite the fantastic financial results, Stratasys generates revenues comparable to those it achieved in 2013-2014. Thus, it can be written that for now it maintains the position of the industry leader, but it still has a long way to go to reach a level comparable to, for example, leading manufacturers of CNC milling machines or injection molding machines.

Based on current market conditions and assuming that the effects of inflation, interest rates and supply costs do not materially impede business operations, Stratasys expects to generate revenues of between $620 million and $670 million this year. Based on current logistics and material costs, full-year gross margins are expected to be in the range of 48-49%, with better year-on-year growth in the second half of 2023. Total annual operating costs will be approximately $290 to $300 million.

Source: www.stratasys.com