When three weeks ago we presented the premiere of the new Stratasys 3D photopolymer 3D printer – J55 – it seemed that the American-Israeli manufacturer was going from success to success – after all, just three months earlier the company showed another machine of this type – model J826 . Unfortunately, the financial results for the first quarter of 2020 published a few days ago put these premieres in a slightly different light – apart from the quality of the machines themselves and their revolutionary functionalities, the market shows Stratasys that what it offers does not necessarily have to be what is expected. What’s more, the quarterly report largely corresponds to what 3D Systems recently showed – revenues are falling, and own costs still exceed them…
In the first quarter of this year, Stratasys generated revenues of USD 132.9 million, while a year earlier it was USD 155.3 million in the same period of time. The result achieved is therefore 14.42% worse. For comparison, 3D Systems achieved revenues of USD 134.7 million, which was 11.4% worse than a year ago. Stratasys recorded the largest year-on-year loss in sales of new 3D printers -20.86% (revenues dropped from USD 105 million to USD 83 million). Revenues from services dropped slightly by -0.94% (from USD 50.2 million to USD 49.7 million).
According to GAAP, the operating loss amounted to USD -19.9 million, while a year earlier it was “only” USD -3.3 million. As expected – and identically to the 3D Systems report, the decline in revenues was attributed to the COViD-19 pandemic and its impact on key customer decisions. The company explains that most of the first-quarter sales took place in the last weeks of the first quarter of 2020, around the time the global pandemic impact was beginning to be felt.
I wonder if the report included the sale and delivery of 60 Stratasys F123 industrial 3D printers to the University Hospital in Paris (AP-HP), what did we describe at the beginning of April? According to press information, the order took place on March 31 this year, i.e. at the very end of the first quarter. If taken into account, it significantly improved the financial result achieved, but at the same time contradicts the information about the negative impact of the COVID-19 pandemic on the sale of machinery – after all, this impressive investment came about due to its outbreak.
Either way, Stratasys and 3D Systems – both still the largest and most distinguished companies of the 3D printing industry in the world, follow the same path, trying to break the bad luck and finally end the quarter with a profit…
Source: www.stratasys.com