In Fourth Quarter, 3D Printing Company Registers Modest Growth

Nasdaq-listed Stratasys Ltd. published its fourth quarter and annual reports on Thursday, coming within the upper range of its updated financial guidance for the year and ending the quarter with $328.8 million in cash and cash equivalents.

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In 2014, the 3D printing market experienced a wide-spread crash after investor hype in late 2013 and early 2014 sent company values soaring to billions of dollars, only to be brought down by lower than expected consumer sales. Stratasys' stock price dropped almost 90% between September 2014 and February 2016, to $15.6.

Stratasys’ stock is currently traded at $20.81 on Nasdaq on Wednesday pre-trade, with a slight downwards trend.

Stratasys is a leading manufacturer of 3D printers and production systems for several industries, including aerospace, automotive, healthcare, and consumer products. In 2012 the company merged with Objet Ltd., a privately held 3D printer manufacturer based in Israel, and since then has been dually headquartered in Eden Prairie, Minnesota and Rehovot, Israel. Stratasys has around 2,500 global employees.

Stratasys reported revenues of $179.3 million for the fourth quarter of 2017, compared to $175.3 million for the same period last year, and GAAP net loss of $10 million ($0.19 per diluted share), compared to a loss of $14.8 million ($0.30 per diluted share) for the same period last year. For the fiscal year 2017, the company reported revenues of $668.4 million compared to $672.5 million for the fiscal year 2016. Its GAAP net loss for 2017 was $40.0 million ($0.75 per diluted share), compared to $77.2 million ($1.48 per diluted share) for 2016.

“Our fourth quarter results reflect the momentum that we built throughout the year, which we attribute to the positive market reaction to several new product introductions,” said Stratasys CEO Ilan Levin in a statement. “Our improved profitability and healthy cash generation in the quarter demonstrates the success of our alignment of resources to support our strategic roadmap.”

The company forecasts annual revenues of $670 million to $700 million for the fiscal year 2018, and GAAP net loss of $41 million to $25 million.