3D printing manufacturer Stratasys has presented its financial figures for the first quarter of 2024. Despite the ongoing reluctance to invest, the company achieved solid results. With a broad-based portfolio and a strong market position, Stratasys believes it is well equipped to benefit from the return to more normal spending levels.
Sales amounted to USD 144.1 million, slightly below the previous year’s figure of USD 149.4 million. Gross margins developed positively, rising to 44.4 percent (GAAP) and 48.6 percent (non-GAAP). Stratasys recorded losses at operating level, but was able to limit these thanks to cost discipline. The non-GAAP operating loss amounted to 1.2 million US dollars, compared to a profit of 1.5 million US dollars in the same quarter of the previous year.
According to CEO Dr. Yoav Zeif, Stratasys recorded record sales of consumables and achieved positive operating cash flows. Particularly encouraging was the growing acceptance of the latest F3300 FDM 3D printing system by major customers such as Nissan, BAE Systems and Sikorsky. “Our solid balance sheet and financial discipline give us stability in the current situation. As soon as the economy recovers and the willingness to invest returns, we are ideally positioned for profitable growth with our differentiated offering and market position,” said the Stratasys CEO.
For 2024, the company confirmed its forecast of sales of USD 630 to 645 million with non-GAAP gross margins of 49.0 to 49.5 percent. Non-GAAP operating margins are expected to be between 2.5% and 3.5%. Investments of 20 to 25 million US dollars and positive cash flows from operating activities are also planned.
Overall, Stratasys is well positioned to benefit from the expected recovery in demand thanks to its diversified portfolio, technological strengths and market position.
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