Stratasys: Third quarter revenue for 2025 at $137 million

Stratasys reported revenue of $137 million in the third quarter of 2025. This represents a decline of 2 percent from $140 million in the same quarter last year. Weaker product sales did not offset stronger recurring revenues. At the same time, the group reports continued price pressure and uneven industrial demand in the additive manufacturing market.

The bottom line is a net loss of $55.6 million, or $0.65 per diluted share, according to GAAP. This includes a non-cash impairment charge of $33.9 million related to the investment in Ultimaker. Adjusted for this and other one-time effects, Stratasys reports non-GAAP net income of $1.5 million, or $0.02 per share. GAAP operating income remains negative, with the operating loss decreasing slightly to $22.7 million. On a non-GAAP basis, operating income was nearly zero at $0.1 million.

The gross margin fell to 41 percent on a GAAP basis, down from 44.8 percent in the previous year. Stratasys attributes this to a less favorable product mix and lower hardware volumes. The non-GAAP gross margin was 45.3 percent, down from 49.6 percent. Adjusted EBITDA reached $5 million, remaining roughly at the previous year’s level. Operating cash flow improved to $6.9 million, following an outflow of $4.5 million in the same quarter last year. At the end of the quarter, the balance sheet showed $255 million in cash and cash equivalents and short-term investments, with no reported debt.

For the full year 2025, Stratasys confirmed its non-GAAP forecast of $550 million to $560 million in revenue and $30 million to $32 million in adjusted EBITDA. At the same time, the company expects a GAAP net loss of $99 million to $110 million, primarily due to impairment. CEO Dr. Yoav Zeif points to investments in growth areas such as aerospace, defense, automotive tooling, dental applications, and medical models.

The integration of Ultimaker continues to weigh on the short term. In 2022, MakerBot agreed to combine with Ultimaker to form a broad desktop portfolio of hardware, software, and materials. MakerBot had previously been acquired for around $400 million, but its focus on the consumer market did not prove to be a viable entry point. Stratasys sees long-term drivers such as supply chain localization, sustainability initiatives, and product personalization as supporting the further spread of polymer-based 3D printing technologies, including the UltiMaker product line.