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Stratasys Ltd. (NASDAQ: SSYS), headquartered in Minneapolis, Minnesota, and Rehovot, Israel, is a leading global provider of 3D printing and additive manufacturing solutions. Utilizing patented technologies such as FDM®, PolyJet®, and WDM™, Stratasys produces high-quality prototypes and manufactured goods directly from 3D CAD files or other 3D content.
Stratasys offers an array of 3D printers tailored for idea development, prototyping, and direct digital manufacturing. The company's subsidiaries include MakerBot and Solidscape, and it operates the RedEye digital-manufacturing service. Stratasys is an innovation leader, holding over 550 granted or pending additive manufacturing patents globally and has been awarded more than 25 accolades for its technological advancements and leadership.
Stratasys focuses primarily on polymer-based 3D printing solutions. These solutions cater to various sectors, including industrial, healthcare, and consumer fields. The company believes that polymer 3D printing solutions offer significant growth opportunities in the rapidly expanding 3D printing industry.
The company's comprehensive product line includes 3D printers such as FDM, PolyJet, Stereolithography, P3, and SAF. Additionally, Stratasys provides software solutions like GrabCAD Software, Connectivity, Digital Anatomy Creator, and OpenAM Software, which enhance the functionality and connectivity of their 3D printing systems.
Revenue generation for Stratasys comes from the sale of 3D printing systems, related services, and consumables, as well as providing comprehensive additive manufacturing solutions. With a workforce of over 1,900 employees, Stratasys continues to push the boundaries of what's possible in 3D printing.
Recent developments at Stratasys highlight the company's commitment to innovation and growth in the 3D printing landscape. Their latest news and updates reflect ongoing projects, new partnerships, and advancements in technology that keep them at the forefront of the industry.
Stratasys (SSYS) reported Q3 2024 financial results with revenue of $140.0 million, down from $162.1 million in Q3 2023. Despite revenue decline, the company showed improved margins with GAAP gross margin increasing 430bps to 44.8% and non-GAAP gross margin up 130bps to 49.6%. The company achieved non-GAAP net income of $0.4 million ($0.01 per share) and Adjusted EBITDA of $5.1 million. Notably, consumables revenue grew for the eighth consecutive quarter. The company raised its 2024 margins and profitability outlook while maintaining revenue guidance of $570-580 million.
Stratasys (NASDAQ: SSYS) has announced significant updates to its FDM and P3 product portfolios. The updates include the Fortus FDC filament drying cabinet, which can reduce yearly labor hours by up to 50% for F900 users and increase uptime by 2.7 times. The company introduced a new FDM PC-ESD material for Fortus systems and expanded Ultem 9085 layer thickness options with Red and Aircraft Gray colors. Additionally, Stratasys is adding over 30 new materials to its Origin P3 platform, including Ultracur3D RG 3280 by Forward AM for injection molding tooling. These enhancements aim to support various industries including aerospace, automotive, and general manufacturing.
Stratasys has partnered with AM Solutions to launch the PowderEase T1, a revolutionary 3-in-1 post-processing system for the H350 SAF powder bed printer. The system automates powder breakout, retrieval, and dosing processes, offering up to 50 minutes of time savings per build compared to manual processes. A single PowderEase T1 can serve up to six H350 printers, maximizing efficiency and reducing operational costs. The system ensures consistent part quality, improved powder utilization, and adherence to industry standards. Manufactured in Germany by AM Solutions, this collaboration aims to advance additive manufacturing by streamlining production workflows.
Stratasys (NASDAQ: SSYS) has launched SAF ReLife, an innovative solution that transforms waste PA12 powder from various additive manufacturing processes into high-quality parts using the Stratasys H350 printer. The technology can reduce carbon footprint by up to 89% when powered by renewable energy and lower production costs by 20%. Beta tester Wehl Green reported significant cost savings and improved efficiency, with 48-hour turnaround times. A third-party Life Cycle Assessment by Fraunhofer IPA validated the environmental benefits, showing a 43% carbon footprint reduction using standard German electricity mix.
Stratasys (NASDAQ: SSYS) announces the launch of its GrabCAD IoT Platform at Formnext 2024, designed to enhance 3D printing operations management and productivity. The platform, immediately available with GrabCAD Streamline Pro software and new PolyJet J3/J5 Series printers, offers real-time monitoring, data-driven insights, and comprehensive fleet management capabilities. The solution introduces standards-based IoT-enabled features for improved printer connectivity, remote diagnostics, and preventative maintenance. Initially available for specific printer models, the platform will be expanded to other technologies in the future.
Stratasys (NASDAQ: SSYS) has scheduled its third quarter 2024 financial results release and conference call for Wednesday, November 13, 2024. The conference call will begin at 8:30 a.m. ET and will be accessible via webcast on the company's investor relations website. Participants can join by phone using the U.S. toll-free number 877-407-0619 or international number +1-412-902-1012. The webcast recording will remain available for 6 months on the company's investor website.
Stratasys (NASDAQ: SSYS) has unveiled the TechStyle™ Fabric Alignment Station, a groundbreaking addition to their 3DFashion™ technology. This innovation enhances the capabilities of the J850 TechStyle™ full color solution, catering to high-end fashion designers' needs. The new station enables:
1. Precise alignment of 2D printed patterns with 3D designs
2. Integration with various production methods like embroidery and laser cutting
3. Improved accuracy in placing 3D printed elements on specific garment areas
Key benefits include enhanced design accuracy, increased efficiency, cost savings, and improved sustainability through reduced material waste. This solution addresses the growing consumer demand for personalized and bespoke fashion products, transforming both the creative process and production efficiency in the fashion industry.
Stratasys (SSYS) has announced its 2024 Annual General Meeting of Shareholders, scheduled for November 7, 2024, at 3:00 p.m. Israel time. The meeting agenda includes:
- Re-election of seven directors and initial election of CEO Yoav Zeif to the board
- Renewal of the Company's Compensation Policy for Executive Officers and Directors
- Approval of a clarification to the definition of Change in Control for CEO severance benefits
- Reappointment of Kesselman & Kesselman as independent auditors
The Board recommends shareholders vote in favor of all proposals. The meeting will also present the audited, consolidated financial statements for the year ended December 31, 2023. Shareholders of record as of September 30, 2024, are eligible to vote.
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.
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