In the shadow of talks about a potential merger, the two largest companies in the global 3D printing industry – 3D Systems and Stratasys published their financial results for the second quarter of 2023. Yesterday we described the quarterly report of the first company, today we present the results of the second… In the second quarter of 2023 Stratasys generated revenue of $159.8 million compared to $166.6 million in Q2 2022, a modest 4 percent decline. Gross GAAP was 41.5%, up from 40.5% a year earlier, while non-GAAP gross was 48.5%, down from 47.6% a year earlier.
The company reported an operating loss of -$33.7 million, which includes all one-off costs related to potential mergers and acquisitions and defending against a hostile stock bid by Nano Dimension. The operating loss in Q2 2022 was lower and amounted to -23.5 million dollars. Despite this, non-GAAP operating income reached $5 million, compared to $1.9 million a year earlier.
In terms of cash flow, the company used $23.2 million in operating activities, compared to $22.8 million in the second quarter of 2022. This difference was mainly due to the timing of annual bonus payments, increase in receivables and costs related to potential mergers and acquisitions.
With regard to the financial projections for 2023, based on current market conditions, Stratasys reaffirms its full-year 2023 revenue and other financial projections of $630-670 million.
Source: www.stratasys.com