Stratasys Inc (ISRAEL) - SSYS STOCK NEWS

Stratasys (Nasdaq: SSYS) has announced a $50 million share repurchase program authorized by its Board of Directors. This move is part of the company's strategy to maximize shareholder value and demonstrates confidence in its long-term growth prospects. The repurchase program complements Stratasys' ongoing restructuring efforts, which aim to generate $40 million in annual cost savings by Q1 2025. These initiatives include reducing the workforce by 15% and focusing on high-growth potential products. Stratasys is also implementing operational improvements and asset optimization to strengthen its balance sheet and drive cash generation. The share repurchases will be funded through existing cash and ongoing cash flow, with the timing and volume dependent on market conditions and other factors.

Stratasys (NASDAQ: SSYS) has received over 30 orders for its advanced F3300™ industrial 3D printer since its launch. Orders come from leading companies in automotive, aerospace, and defense markets, as well as commercial and industrial manufacturers. The F3300 printer offers faster print speeds, up to 25% improved accuracy, and nearly 50% cost savings. It features a four-head system and easy-change large-capacity spools, reducing downtime significantly. Customers praise its speed, industrial design, and ease of operation. The printer will be showcased at the International Manufacturing Technology Show (IMTS) in Chicago, September 9-14.

Stratasys (NASDAQ: SSYS) and Materialise have launched the Stratasys Neo® Build Processor for Investment Casting, a solution designed to accelerate the production of high-quality investment casting master patterns. This new processor, developed for Stratasys Neo®450 and Neo®800 stereolithography (SLA) 3D printers, offers up to 50% faster file processing and significantly enhanced print speeds.

The processor streamlines the 3D printing workflow for manufacturers in aerospace and other demanding industries, potentially resulting in up to 75% time savings compared to traditional manufacturing methods. It combines Somos® WaterShed® AF resin, Neo SLA technology, and advanced Materialise software to produce highly accurate 3D printed master patterns with minimal finishing required.

Stratasys (NASDAQ: SSYS) is set to make a significant impact at the upcoming International Manufacturing Technology Show (IMTS). The company will unveil its new Origin® Two photopolymer printer on September 9th, addressing precision and surface finish needs in specialized manufacturing. Rich Garrity, Chief Industrial Business Officer, will deliver a keynote address on September 10th, focusing on additive manufacturing's value and workforce development.

The company will showcase solutions based on all five of its technologies, including the F3300™ high-scale manufacturing printer and Neo® 800 stereolithography printer. Stratasys will also highlight its partnership with Andretti Global Racing, featuring an IndyCar produced with 3D printing technologies. The event underscores Stratasys' commitment to innovation, industry partnerships, and developing the next generation of manufacturing professionals.

Stratasys (NASDAQ: SSYS) has unveiled the Origin Two DLP printer and Origin Cure post-processing system, addressing manufacturers' demand for injection-molding quality in short production runs. This solution offers exceptional accuracy (+/- 50 µm), repeatability (93% within +/- 50 µm), and surface finish (up to RA 3 µm) previously unattainable with additive manufacturing.

Key features include a heated chamber supporting materials with up to 300°C Heat Deflection Temperature, 385-nanometer wavelength compatibility, and print speeds up to 20 mm/hour. The system aims to reduce reliance on third parties, improve inventory management, and consolidate part manufacturing, offering a cost-effective alternative to mass production for low to medium volume needs.

Stratasys (NASDAQ: SSYS) reported Q2 2024 financial results, showing a revenue decline to $138.0 million from $159.8 million in Q2 2023. The company saw a 6.3% year-over-year growth in recurring consumables revenue and improved GAAP gross margin by 230 basis points. Stratasys reported a GAAP net loss of $25.7 million, or $0.36 per diluted share, and a non-GAAP net loss of $3.0 million, or $0.04 per diluted share.

Following a strategic review, Stratasys announced restructuring actions expected to deliver ~$40 million in annualized savings and an 8% annualized EBITDA margin at current revenue levels. The company plans to reduce its workforce by approximately 15% by the end of the year. Stratasys updated its 2024 outlook, projecting revenue between $570 million to $580 million and non-GAAP operating margin of 0.5% to 1.0%.

CollPlant Biotechnologies (NASDAQ: CLGN) reported Q2 2024 financial results and provided a corporate update. Key highlights include:

• Initiated pre-clinical trial with 200cc rhCollagen-based regenerative breast implants printed with Stratasys' Origin® 3D printer
• Breast implants could address a $3.0 billion market opportunity
• Q2 revenues were $249,000, down from $10.2 million in Q2 2023 due to a one-time milestone payment in the prior year
• Q2 GAAP net loss was $4.2 million or $0.37 per share
• Cash and cash equivalents of $18.9 million as of June 30, 2024
• Cash runway expected to last until at least the end of 2025

The company is advancing its regenerative breast implant program and released its first ESG report. CollPlant aims to lead in regenerative medicine with its innovative collagen technology.

CollPlant Biotechnologies (Nasdaq: CLGN) and Stratasys (Nasdaq: SSYS) have initiated a pre-clinical study for 3D-printed regenerative breast implants. The study focuses on 200cc commercial-sized implants produced using CollPlant's rhCollagen-based bioinks on a Stratasys Origin® printer. The innovative implants aim to promote natural breast tissue growth and completely degrade over time, potentially revolutionizing both reconstructive and aesthetic procedures in the $3 billion breast implant market.

The collaboration leverages Stratasys' 3D printing expertise and CollPlant's regenerative medicine technology. Initial results are expected in the first half of 2025. Previous pre-clinical studies have shown promising results, including neovascularization and tissue regeneration without adverse reactions.

CollPlant Biotechnologies (CLGN) and Stratasys (SSYS) have initiated a pre-clinical study for 3D-printed regenerative breast implants. The 200cc commercial-sized implants, made using CollPlant's rhCollagen-based bioinks and printed on a Stratasys Origin® printer, aim to promote natural breast tissue growth and completely degrade over time. This innovation targets the $3 billion breast implant market, offering a potential alternative to traditional silicone implants and autologous fat transfer procedures.

The collaboration focuses on developing a bioprinting solution and scaling up the fabrication process. Initial results from the study are expected in the first half of 2025. Previous pre-clinical studies have shown promising results, including neovascularization and tissue regeneration without adverse reactions.