Moments after the end of Formnext 2023, Stratasys published its financial results for the third quarter of 2023. Sales revenues amounted to USD 162.1 million, which is virtually the same result as in the same period last year. remained almost at the same level as the year before. Excluding revenues from sales of subsidiaries (MakerBot and the services division – Stratasys Direct) and taking into account constant exchange rates, the company achieved a slight growth of +3.3%.
Stratasys boasts record demand for consumables for 3D printers, which indicates their high use by customers. The operating loss in accordance with GAAP accounting principles amounted to -42.8 million dollars, of which -17.3 million dollars were costs related to mergers and acquisitions, defense against a hostile takeover (regarding legal perturbations with Nano Dimension) and attorney’s fees. A year ago, the company had an operating loss of -$15.6 million. Non-GAAP operating income was +$4.1 million compared to +$4.5 million in Q3 2022.
Stratasys CEO Yoav Zeif expressed his satisfaction with the development of his company. The company reported its ninth straight quarter of adjusted profit. Through focus and innovation, Stratasys sees itself well-positioned for continued growth.
For full-year 2023, the company now expects total revenue of $620 million to $630 million, compared to prior guidance of $640 million to $680 million. The reason for lowering this outlook was the sale of part of the company (Stratasys Direct) and the general economic slowdown. At the same time, Stratasys expects to make a small profit for the full year.