The 3D printing manufacturer Stratasys recorded a decline in revenue to 140 million US dollars in the third quarter of 2024. This corresponds to a drop of 13.6% compared to the same period last year. Nevertheless, the company significantly improved its gross margins.
The current macroeconomic conditions continue to weigh on customers’ willingness to invest in new hardware. At the same time, consumption of printing materials is increasing for the eighth quarter in a row. This indicates more intensive use of the installed systems, particularly in the manufacturing sector.
“Our measures to realign the company are beginning to bear fruit,” explains CEO Yoav Zeif. The new F3300 platform is gaining traction in the market. The company is also expanding in the aerospace, automotive and healthcare sectors.
The gross margin according to GAAP increased by 4.3 percentage points to 44.8 percent. GAAP net loss amounted to 26.6 million dollars or 0.37 dollars per share. On a non-GAAP basis, Stratasys reported a small profit of 0.4 million dollars.
According to the company, the restructuring program is progressing faster than planned. Annual cost savings of 40 million dollars are to take effect from the first quarter of 2025. For the full year 2024, Stratasys expects sales of between 570 and 580 million dollars.
Management expects demand for hardware systems to recover in 2025. The implemented cost reductions should then lead to rising profits and an improved cash flow.
Subscribe to our Newsletter
3DPresso is a weekly newsletter that links to the most exciting global stories from the 3D printing and additive manufacturing industry.
