- Stratasys ( NASDAQ: SSYS ) updated its outlook for 2022 to include the impact of $17M from its MakerBot divestiture after reporting mixed Q3 results .
- FY2022 Outlook : Revenue of $648M to $652M, which includes the impact of approximately $13M to reflect the anticipated impact of customer-related delays in the purchasing of systems and materials due to anticipated, ongoing economic uncertainty as well as ongoing pressure on foreign exchange rates vs. prior outlook of $675M to $685M and consensus of $661.57M; Gross margins flat to slightly higher Y/Y; Operating expenses $5M to $10M higher than 2021, primarily due to the divestiture of MakerBot and by improved efficiencies; non-GAAP operating margins slightly above 2%; GAAP net loss of $48M to $39M, or ($0.72) to ($0.59) per diluted share; Non-GAAP net income of $6M to $8M, or $0.09 to $0.12 per diluted share vs. consensus of $0.15; Adjusted EBITDA of $34M to $37M down from $38M to $41M; Capital expenditures of $15M to $20M down from $20M to $25M.
- Dr. Yoav Zeif, Stratasys’ Chief Executive Officer, said “We delivered our highest third quarter revenue in seven years. This was driven by 18.9% growth in our systems, excluding divestitures and on a constant currency basis. We have now achieved five consecutive quarters of positive earnings, demonstrating our unique ability to generate profitable growth even while navigating a challenging global economic backdrop that includes prolonged customer sales cycles and delayed consumables purchases.”
- Stock has lost around 50% since the start of 2022.
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Stratasys cuts FY2022 outlook to include the impact of MakerBot divestiture