Stratasys Inc (ISRAEL) - SSYS STOCK NEWS

Stratasys Ltd. (NASDAQ: SSYS) has announced that its CFO, Eitan Zamir, will participate in a fireside chat at the 25th Annual Needham Growth Conference in New York on January 10, 2023, at 8:45 a.m. ET. This event will be available via live webcast and archived for 180 days, allowing investors and stakeholders to access the discussion. Stratasys is a leader in polymer 3D printing, providing solutions for various industries, including aerospace and healthcare, enhancing product design and manufacturing agility.

Stratasys Ltd. (NASDAQ: SSYS) has appointed Christian Alvarez as the new Chief Revenue Officer, effective immediately. Alvarez, with nearly three decades of experience, will enhance go-to-market strategies for Stratasys, focused on customer satisfaction and retention. His previous roles include Senior VP of Worldwide Channel Sales at Nutanix and several leadership positions at Juniper Networks. CEO Dr. Yoav Zeif expressed confidence in Alvarez's ability to drive growth in the polymer 3D printing sector.

Stratasys Ltd. (SSYS) reported a 2.0% rise in consolidated revenues for Q3 2022, totaling $162.2 million. Adjusted revenue increased by 7.8% on a constant currency basis. The company achieved a GAAP net income of $18.7 million ($0.28 per share) and improved non-GAAP operating income to $4.5 million. Despite an operating cash loss of $18.4 million due to inventory increases, the company maintains a solid cash position with $348.7 million and no debt. Full-year 2022 revenue guidance is updated to $648-$652 million, reflecting about 10% growth post-divestiture of MakerBot.

Stratasys has announced a partnership with ALM to supply PA12 powder for its H350 3D printer, expanding material offerings in additive manufacturing. The company also introduced 13 new Validated materials for the Fortus 450mc printer, enhancing options for industries such as aerospace and healthcare. The OpenAM software allows customers access to third-party materials, promoting innovation. Stratasys aims to drive the adoption of additive manufacturing solutions, aligning with market trends for sustainable and efficient production.

Stratasys (SSYS) has made a strategic investment of $10 million in med-tech startup Axial3D, as part of a $15 million investment round. This partnership aims to enhance the accessibility of 3D printed anatomic models for healthcare, targeting hospitals and medical device manufacturers. Axial3D’s AI-driven technology simplifies the conversion of CT and MRI scans into 3D models, improving surgical planning and patient outcomes. The total market opportunity for medical 3D printing is estimated at $2.8 billion.

Stratasys Ltd (NASDAQ: SSYS) will announce its third quarter financial results for the period ending September 30, 2022, on November 10, 2022. The company will host a conference call at 8:30 a.m. ET the same day to discuss these results. The call will be accessible via live webcast on the Stratasys website and by telephone for investors. Stratasys continues to lead in additive manufacturing, providing innovative 3D printing solutions across various industries, improving product design, manufacturing agility, and patient care.

Stratasys (NASDAQ: SSYS) has announced the acquisition of Riven, a quality assurance software company, to enhance its GrabCAD Additive Manufacturing Platform. Riven's cloud-based software improves parts inspection, allowing for quick diagnosis and corrections between CAD files and printed parts. This integration aims to ensure accurate production-scale parts, reduce delays, and promote sustainability by minimizing waste. The acquisition closed in October 2022 and is expected to facilitate market expansion and enable better 3D printing solutions for Stratasys customers.

Stratasys Ltd. has finalized the merger of its subsidiary MakerBot with Ultimaker, backed by NPM Capital, effective August 31, 2022. The new entity, retaining the name Ultimaker, aims to dominate the Desktop 3D printing market. NPM Capital holds 53.5% ownership, while Stratasys retains a 46.5% share. This merger is expected to enhance Stratasys’s strategic focus and create long-term value for shareholders. However, financial contributions from MakerBot will no longer be consolidated by Stratasys starting September 1, 2022.

Stratasys (NASDAQ: SSYS) has signed an agreement to acquire Covestro AG's additive manufacturing materials business for approximately 43 million euros, plus inventory and potential earnout of up to 37 million euros. This acquisition is poised to enhance Stratasys' ability to deliver comprehensive 3D printing solutions and accelerate materials development. The deal includes R&D facilities, a diverse materials portfolio of about 60 additive manufacturing materials, and a robust IP portfolio. Closing is expected in Q1 2023, pending regulatory approvals.