Aug 15, 2017 | By Tess

With the recent release of its second quarter (Q2) financial results, 3D printing company Stratasys has seen a mixed but promising start to 2017. Notably, the company announced that it has already sold 1,000 units of its new F123 3D printer series, which launched in February of this year.

While the 3D printing solutions company did see a slight decrease in revenue for its second quarter (down to $170 million from $172.1 million for the same period last year), overall results were better than expected.

For instance, Stratasys reported non-GAAP Q2 profits of 17 cents a share—a whole ten cents higher than Wall Street estimated. The GAAP gross margin grew to 49.1% for the quarter, up from 46.2% for the second quarter of 2016.

Stratasys reports that it generated $10.9 million in cash from operations and sales in Q2, and ended the periof with a total of $305.3 million in cash and cash equivalents.

"We continue to allocate resources towards deepening customer engagement within our key vertical markets, and we are pleased with our progress in developing higher quality revenue opportunities," commented Ilan Levin, Chief Executive Officer of Stratasys.

"In addition to these vertical market initiatives, we are pleased with the market reception of our new F123 Series, launched in February of 2017, which has resulted in orders of over 1,000 units to date, and has generated significant interest for rapid prototyping applications among professional users,” he added.

Indeed, Stratasys’ sales for its new F123 3D printer series might be the most promising aspect of its Q2 financial results, as its new products seem to be fairing very well and demand for them is remarkably high.

Consisting of the F170, F270, and F370 3D printer models, Stratasys’ F123 series was developed to expand the market for office-friendly 3D printing systems. That is, all three models are built to fit into an office (with sizes comparable to a photocopier), and are specifically equipped for complete prototyping workflow processes, from initial concept verification, to design validation, and finally to product performance testing.

The three models all vary slightly in terms of their build volume capacities, and what materials they are compatible with. For instance, while all three models are compatible with PLA, ABS, and ASA, the F370 can also print using PC-ABS, a suitable material for heavier duty functional prototypes.

In its financial report, Stratasys restated its financial guidance for 2017. Its projected revenue guidance is set at $645 to $680 million, GAAP net loss guidance at $53 to $39 million, and non-GAAP net income guidance of $10 to $20 million.

"We have made significant progress in developing solutions that target high-value applications within our targeted markets, and we continue to focus on aligning our resources around this long term strategy," added Levin. "We believe this strategy will allow us to help grow the adoption of our products and services over time."

 

 

Posted in 3D Printer Company

 

 

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