Mar 10, 2017 | By Benedict

Stratasys has released its fourth quarter and full year 2016 financial results, reporting $175.3 million in revenue for Q4. The 3D printing company says its 2017 revenue will be between $645 million and $680 million with non-GAAP earnings of 19 cents a share to 37 cents a share.

Despite being able to shrink its losses during Q4, Stratasys’ latest financial results still came as a slight disappointment to Wall Street, with the company’s stock falling 9.42% on Thursday as a result. The 3D printing giant also lowered its outlook for 2017, estimating that revenue for the year ahead will be between $645 million and $680 million with non-GAAP earnings of 19 cents a share to 37 cents a share. The net loss for 2017, it says, will be between $39 million to $53 million.

Stratasys still says it is heading in the right direction, highlighting slight gains in Q4 as a cause for optimism. “Our increased revenue, combined with the ongoing activities to better align our cost structure, contributed to a significant improvement in operating profit and cash generation during the quarter," said Ilan Levin, Chief Executive Officer of Stratasys. “Additionally, we are encouraged by the growth in our recurring revenue during the period, demonstrating strong utilization of our installed base of systems.”

After posting its financial results yesterday, Stratasys shares opened at $18.50, and traded as high as $19.44 and as low as $18.06 throughout the day. Shares were at $18.17 at close: a loss of $-1.89 per share (9.42%). When 3D Systems posted its financial results last week, its shares fell 9.9%.

Stratasys' new 3D printing materials, FDM Nylon 12CF and Agilus30

“We made significant progress in 2016 as we leverage our extensive technology and application knowledge, together with our large customer base, into value-added solutions within key target markets,” Levin added. “Our focus is on developing enhanced products and a more robust ecosystem, supported by collaborations with industry leaders, including Siemens, Boeing, Airbus, Ford, McLaren Racing, and Team Penske.”

Stratasys released two new 3D printing materials, FDM Nylon 12CF and Agilus30, earlier this week, and recently announced high-profile collaborations with Siemens and Dassault Systèmes.

Stratasys Q4 2016 results

  • Revenue: $175.3 million
  • GAAP gross margin: 47.3%
  • Non-GAAP gross margin: 53.6%
  • GAAP operating loss: $29.2 million
  • Non-GAAP operating income: $11.6 million
  • GAAP net loss: $14.8 million, or ($0.30) per diluted share
  • Non-GAAP net income: $7.8 million, or $0.15 per diluted share
  • Cash generated: $26.0 million
  • Total cash: $280.3 million
  • Net R&D expenses: $24.3 million

Stratasys 2016 results

  • Revenue: $672.5 million
  • GAAP net loss: $77.2 million, or ($1.48) per diluted share
  • Non-GAAP net income: $14.8 million, or $0.28 per diluted share
  • Cash generated: $62.0 million

Stratasys financial guidance for 2017

  • Revenue: $645 to $680 million
  • Non-GAAP net income: $10 to $20 million, or $0.19 to $0.37 per diluted share
  • GAAP net loss: $53 to $39 million, or ($1.00) to ($0.73) per diluted share
  • Non-GAAP operating margins: 3% to 5%
  • Capital expenditures: $40 to $50 million

 

 

Posted in 3D Printer Company

 

 

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