Stratasys Releases Fourth Quarter and Full Year 2024 Financial Results
Stratasys (NASDAQ: SSYS) reported Q4 2024 financial results with revenue of $150.4 million, down from $156.3 million in Q4 2023. The quarter saw a GAAP net loss of $41.9 million ($0.59 per share), including a $30.1 million non-cash impairment charge, while non-GAAP net income was $8.5 million ($0.12 per share).
Full-year 2024 revenue reached $572.5 million, compared to $627.6 million in 2023, with a GAAP net loss of $120.3 million ($1.70 per share). The company maintained positive operating cash flow of $7.8 million for the year, ending with $150.7 million in cash and no debt.
Looking ahead to 2025, Stratasys projects revenue between $570-585 million, non-GAAP operating margins of 4.0-5.0%, and Adjusted EBITDA of $44.0-50.0 million. The company secured a pending $120 million investment from Fortissimo Capital, expected to close in Q2 2025.
Stratasys (NASDAQ: SSYS) ha riportato i risultati finanziari del quarto trimestre 2024 con un fatturato di 150,4 milioni di dollari, in calo rispetto ai 156,3 milioni di dollari del quarto trimestre 2023. Nel trimestre si è registrata una perdita netta GAAP di 41,9 milioni di dollari (0,59 dollari per azione), inclusa una svalutazione non monetaria di 30,1 milioni di dollari, mentre l'utile netto non GAAP è stato di 8,5 milioni di dollari (0,12 dollari per azione).
Il fatturato totale per l'anno 2024 ha raggiunto 572,5 milioni di dollari, rispetto ai 627,6 milioni di dollari del 2023, con una perdita netta GAAP di 120,3 milioni di dollari (1,70 dollari per azione). L'azienda ha mantenuto un flusso di cassa operativo positivo di 7,8 milioni di dollari per l'anno, chiudendo con 150,7 milioni di dollari in contante e senza debiti.
Guardando al 2025, Stratasys prevede un fatturato compreso tra 570-585 milioni di dollari, margini operativi non GAAP del 4,0-5,0% e un EBITDA rettificato di 44,0-50,0 milioni di dollari. L'azienda ha assicurato un investimento in sospeso di 120 milioni di dollari da Fortissimo Capital, previsto per chiudere nel secondo trimestre del 2025.
Stratasys (NASDAQ: SSYS) informó los resultados financieros del cuarto trimestre de 2024 con ingresos de 150,4 millones de dólares, una disminución desde los 156,3 millones de dólares en el cuarto trimestre de 2023. El trimestre mostró una pérdida neta GAAP de 41,9 millones de dólares (0,59 dólares por acción), incluyendo un cargo por deterioro no monetario de 30,1 millones de dólares, mientras que el ingreso neto no GAAP fue de 8,5 millones de dólares (0,12 dólares por acción).
Los ingresos del año completo 2024 alcanzaron 572,5 millones de dólares, en comparación con 627,6 millones de dólares en 2023, con una pérdida neta GAAP de 120,3 millones de dólares (1,70 dólares por acción). La compañía mantuvo un flujo de efectivo operativo positivo de 7,8 millones de dólares para el año, cerrando con 150,7 millones de dólares en efectivo y sin deudas.
De cara a 2025, Stratasys proyecta ingresos entre 570-585 millones de dólares, márgenes operativos no GAAP del 4,0-5,0%, y un EBITDA ajustado de 44,0-50,0 millones de dólares. La compañía aseguró una inversión pendiente de 120 millones de dólares de Fortissimo Capital, que se espera que se cierre en el segundo trimestre de 2025.
Stratasys (NASDAQ: SSYS)는 2024년 4분기 재무 결과를 보고했으며, 매출은 1억 5천40만 달러로 2023년 4분기의 1억 5천630만 달러에서 감소했습니다. 이번 분기에는 4천190만 달러의 GAAP 순손실(주당 0.59달러)이 발생했으며, 여기에는 3천만 달러의 비현금 손상차손이 포함되어 있습니다. 비GAAP 순이익은 850만 달러(주당 0.12달러)였습니다.
2024년 전체 연간 매출은 5억 7천250만 달러에 달했으며, 이는 2023년의 6억 2천760만 달러와 비교됩니다. GAAP 순손실은 1억 2천30만 달러(주당 1.70달러)였습니다. 회사는 연간 780만 달러의 긍정적인 운영 현금 흐름을 유지하며, 1억 5천70만 달러의 현금과 부채가 없는 상태로 마감했습니다.
2025년을 전망하며, Stratasys는 매출을 5억 7천-5억 8천500만 달러로 예상하고 있으며, 비GAAP 운영 마진은 4.0-5.0%, 조정된 EBITDA는 4천4백만-5천만 달러로 예상하고 있습니다. 회사는 Fortissimo Capital로부터 1억 2천만 달러의 투자금을 확보했으며, 이는 2025년 2분기에 마감될 예정입니다.
Stratasys (NASDAQ: SSYS) a annoncé les résultats financiers du quatrième trimestre 2024 avec un chiffre d'affaires de 150,4 millions de dollars, en baisse par rapport à 156,3 millions de dollars au quatrième trimestre 2023. Le trimestre a enregistré une perte nette GAAP de 41,9 millions de dollars (0,59 dollar par action), incluant une charge de dépréciation non monétaire de 30,1 millions de dollars, tandis que le bénéfice net non GAAP était de 8,5 millions de dollars (0,12 dollar par action).
Le chiffre d'affaires total pour l'année 2024 a atteint 572,5 millions de dollars, contre 627,6 millions de dollars en 2023, avec une perte nette GAAP de 120,3 millions de dollars (1,70 dollar par action). L'entreprise a maintenu un flux de trésorerie opérationnel positif de 7,8 millions de dollars pour l'année, se terminant avec 150,7 millions de dollars en liquidités et sans dettes.
En regardant vers 2025, Stratasys prévoit un chiffre d'affaires compris entre 570-585 millions de dollars, des marges opérationnelles non GAAP de 4,0-5,0% et un EBITDA ajusté de 44,0-50,0 millions de dollars. L'entreprise a sécurisé un investissement en attente de 120 millions de dollars de Fortissimo Capital, qui devrait se clôturer au deuxième trimestre de 2025.
Stratasys (NASDAQ: SSYS) hat die finanziellen Ergebnisse für das vierte Quartal 2024 veröffentlicht, mit einem Umsatz von 150,4 Millionen Dollar, ein Rückgang von 156,3 Millionen Dollar im vierten Quartal 2023. Im Quartal gab es einen GAAP-Nettoverlust von 41,9 Millionen Dollar (0,59 Dollar pro Aktie), einschließlich einer nicht zahlungswirksamen Wertminderung von 30,1 Millionen Dollar, während das nicht GAAP-Nettoeinkommen 8,5 Millionen Dollar (0,12 Dollar pro Aktie) betrug.
Der Gesamtumsatz für das Jahr 2024 belief sich auf 572,5 Millionen Dollar, im Vergleich zu 627,6 Millionen Dollar im Jahr 2023, mit einem GAAP-Nettoverlust von 120,3 Millionen Dollar (1,70 Dollar pro Aktie). Das Unternehmen hielt einen positiven operativen Cashflow von 7,8 Millionen Dollar für das Jahr und schloss mit 150,7 Millionen Dollar in bar und ohne Schulden ab.
Für 2025 prognostiziert Stratasys einen Umsatz zwischen 570-585 Millionen Dollar, nicht GAAP-Betriebsgewinne von 4,0-5,0% und ein bereinigtes EBITDA von 44,0-50,0 Millionen Dollar. Das Unternehmen sicherte sich eine ausstehende Investition von 120 Millionen Dollar von Fortissimo Capital, die voraussichtlich im zweiten Quartal 2025 abgeschlossen wird.
- Improved Q4 non-GAAP gross margin to 49.6% from 48.8% YoY
- Q4 non-GAAP net income increased to $8.5M from $1.6M YoY
- Generated positive operating cash flow of $7.8M in 2024
- Secured $120M investment from Fortissimo Capital
- Strong cash position of $150.7M with no debt
- Q4 revenue declined 3.8% YoY to $150.4M
- Full-year revenue dropped 8.8% to $572.5M
- Q4 GAAP net loss widened to $41.9M from $15.0M YoY
- Full-year GAAP net loss of $120.3M
- $30.1M non-cash impairment charge on equity investment
Insights
Stratasys' Q4 and full-year 2024 results reveal a company navigating persistent market headwinds while successfully implementing operational efficiencies. The revenue contraction to
While non-GAAP figures show improvement, the significant GAAP losses of
The company has demonstrated remarkable discipline in margin management, expanding non-GAAP gross margins by 100 basis points to
Stratasys maintains a solid financial foundation with
The 2025 outlook projects essentially flat revenue (
This appears to be a critical transitional period for Stratasys - having successfully right-sized operations and improved financial discipline while positioning for future growth when market conditions eventually improve.
-
Fourth quarter revenue of
$150.4 million $156.3 million -
Fourth quarter GAAP net loss of
$41.9 million $0.59 $30.1 million -
Fourth quarter Non-GAAP net income of
$8.5 million $0.12 -
Full year revenue of
$572.5 million $627.6 million -
Full year GAAP net loss of
$120.3 million $1.70 $4.2 million $0.06 -
Fourth quarter positive operating cash flow of
$7.4 million -
Full year positive operating cash flow of
$7.8 million $150.7 million -
Fourth quarter Adjusted EBITDA of
$14.5 million 9.6% of revenue -
Secures
$120 million - Provides 2025 outlook
Dr. Yoav Zeif, Stratasys’ Chief Executive Officer, stated, “In 2024 and early 2025, we took several key steps to enhance our leadership and strengthen our position at the forefront of additive manufacturing. We also successfully expanded our adjusted gross margin by 100 basis points, delivered net profitability on an adjusted basis, and generated positive operating cash flow in 2024 with increased cash flow expected in 2025, demonstrating the resilience of our operating model. We took decisive actions to optimize our business while maintaining our ability to scale rapidly as conditions improve. We are pleased to have right-sized the Company and demonstrated the resilience of our operating model and effectiveness of our team.”
Dr. Zeif continued, “Continuing strong customer engagement reaffirms our expectations that once spending constraints ease, adoption rates will accelerate and we will return to growth and generate increased profits. Our healthy balance sheet of
Summary - Fourth Quarter 2024 Financial Results Compared to Fourth Quarter 2023:
-
Revenue of
$150.4 million $156.3 million -
GAAP gross margin of
46.3% , compared to44.7% . -
Non-GAAP gross margin of
49.6% , compared to48.8% . -
GAAP operating loss of
$9.7 million $5.7 million -
Non-GAAP operating income of
$9.4 million $2.0 million -
GAAP net loss of
$41.9 million $0.59 $15.0 million $0.22 -
Non-GAAP net income of
$8.5 million $0.12 $1.6 million $0.02 -
Adjusted EBITDA of
$14.5 million $7.7 million -
Cash provided by operating activities of
$7.4 million $7.7 million
Summary - 2024 Financial Results Compared to 2023:
-
Revenue of
$572.5 million $627.6 million -
GAAP gross margin of
44.9% , compared to42.5% . -
Non-GAAP gross margin of
49.2% , compared to48.2% . -
GAAP operating loss of
$85.7 million $87.6 million -
Non-GAAP operating income of
$4.9 million $12.6 million -
GAAP net loss of
$120.3 million $1.70 $123.1 million $1.79 -
Non-GAAP net income of
$4.2 million $0.06 $7.7 million $0.11 -
Adjusted EBITDA of
$26.0 million $35.0 million -
Cash generated by operating activities of
$7.8 million $61.6 million
Financial Outlook:
Based on current market conditions and assuming that the impacts of global inflationary pressures, relatively high interest rates and supply chain costs do not impede economic activity further, the Company is providing the following outlook for 2025:
-
Full year revenue of
$570 million $585 million -
Based on current logistics and materials costs, full year non-GAAP gross margins of
48.8% -49.2% , improving sequentially through the year. -
Full year operating expenses in a range of
$254 million $257 million -
Full year non-GAAP operating margins in a range of
4.0% to5.0% . -
GAAP net loss of
$68 million $53 million $0.93 $0.72 -
Non-GAAP net income of
$20 million $26 million $0.28 $0.35 -
Adjusted EBITDA of
$44.0 million $50.0 million 7.8% to8.5% . -
Capital expenditures of
$25 million $30 million - Expects to generate improved operating and free cashflow, at higher levels than in 2024.
- Expects Fortissimo Capital investment to close in the second quarter 2025.
Appropriate reconciliations between our historical GAAP and non-GAAP financial measures, as well as between the GAAP and non-GAAP financial measures included in our financial outlook for 2025, are provided in the tables at the end of our press release and slide presentation, with itemized detail concerning the non-GAAP financial measures. We have not included, however, a reconciliation of our guidance for non-GAAP gross margins to the most directly comparable GAAP financial measure, as we are unable to do so without unreasonable effort or with reasonable certainty from a quantitative perspective.
Stratasys Ltd. Fourth Quarter 2024 Webcast and Conference Call Details
The Company plans to webcast its conference call to discuss its fourth quarter and full-year 2024 financial results on Wednesday, March 5, 2025, at 8:30 a.m. (ET).
The investor conference call will be available via live webcast on the Stratasys Web site at investors.stratasys.com, or directly at the following web address:
https://event.choruscall.com/mediaframe/webcast.html?webcastid=NYpcz3qp
To participate by telephone, the
Stratasys is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries such as aerospace, automotive, consumer products, healthcare, fashion and education. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage in the product value chain. The world’s leading organizations turn to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.
To learn more about Stratasys, visit www.stratasys.com, the Stratasys blog, X/Twitter, LinkedIn, or Facebook. Stratasys reserves the right to utilize any of the foregoing social media platforms, including the Company’s websites, to share material, non-public information pursuant to the SEC’s Regulation FD. To the extent necessary and mandated by applicable law, Stratasys will also include such information in its public disclosure filings.
Stratasys is a registered trademark and the Stratasys signet is a trademark of Stratasys Ltd. and/or its subsidiaries or affiliates. All other trademarks are the property of their respective owners.
Cautionary Statement Regarding Forward-Looking Statements
The statements in this press release regarding Stratasys' strategy, and the statements regarding its projected future financial performance, including the financial guidance concerning its expected results for 2025 and beyond, are forward-looking statements reflecting management's current expectations and beliefs. These forward-looking statements are based on current information that is, by its nature, subject to rapid and even abrupt change. Due to risks and uncertainties associated with Stratasys' business, actual results could differ materially from those projected or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: the extent of our success at introducing new or improved products and solutions that gain market share; the extent of growth of the 3D printing sector generally; the global macro-economic environment, including headwinds caused by lingering inflation, relatively high interest rates, unfavorable currency exchange rates and uncertain economic conditions; changes in our overall strategy, including as related to the focused restructuring actions that we have implemented to streamline operations and enhance our go-to-market strategy; the impact of potential shifts in the prices or margins of the products that we sell or services that we provide, including due to a shift towards lower margin products or services; the impact of competition and new technologies, and developments involving competitors in our industry, including merger and acquisition activity involving us and/or our competitors; whether we successfully complete the PIPE transaction whereby Fortissimo Capital will invest
Use of Non-GAAP Financial Measures
The non-GAAP data included herein, which excludes certain items as described below, are non-GAAP financial measures. Our management believes that these non-GAAP financial measures are useful information for investors and shareholders of our company in gauging our results of operations (i) on an ongoing basis after excluding mergers, acquisitions and divestments related expense or gains and reorganization-related charges or gains, and legal provisions, (ii) excluding non-cash items such as stock-based compensation expenses, acquired intangible assets amortization, including intangible assets amortization related to equity method investments, impairment of long-lived assets and goodwill, revaluation of our investments and the corresponding tax effect of those items, (iii) for certain non-GAAP measures, after eliminating the impact of changes attributable to currency exchange rate fluctuations, and (iv) after excluding changes in revenues solely attributable to divestitures of former subsidiary companies. These non-GAAP adjustments either do not reflect actual cash outlays that impact our liquidity and our financial condition or have a non-recurring impact on the statement of operations, as assessed by management. These non-GAAP financial measures are presented to permit investors to more fully understand how management assesses our performance for internal planning and forecasting purposes. The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of our results of operations without including all items indicated above during a period, which may not provide a comparable view of our performance to other companies in our industry. Investors and other readers should consider non-GAAP measures only as supplements to, not as substitutes for or as superior measures to, the measures of financial performance prepared in accordance with GAAP. Reconciliation between results on a GAAP and non-GAAP basis is provided in the tables below.
| Stratasys Ltd. | |||||||||
| Consolidated Balance Sheets | |||||||||
| (in thousands, except share data) | |||||||||
| (Unaudited) | |||||||||
December 31, |
December 31, |
||||||||
|
2024 |
|
|
2023 |
|
||||
| ASSETS | |||||||||
| Current assets | |||||||||
| Cash and cash equivalents | $ |
70,200 |
|
$ |
82,585 |
|
|||
| Short-term bank deposits |
|
80,500 |
|
|
80,000 |
|
|||
| Accounts receivable, net of allowance for credit losses of |
|
152,979 |
|
|
172,009 |
|
|||
| Inventories |
|
179,809 |
|
|
192,976 |
|
|||
| Prepaid expenses |
|
7,630 |
|
|
7,929 |
|
|||
| Other current assets |
|
21,843 |
|
|
24,596 |
|
|||
| Total current assets |
|
512,961 |
|
|
560,095 |
|
|||
| Non-current assets | |||||||||
| Property, plant and equipment, net |
|
184,379 |
|
|
197,552 |
|
|||
| Goodwill |
|
99,082 |
|
|
100,051 |
|
|||
| Other intangible assets, net |
|
106,253 |
|
|
127,781 |
|
|||
| Operating lease right-of-use assets |
|
32,169 |
|
|
18,895 |
|
|||
| Long-term investments |
|
80,205 |
|
|
115,083 |
|
|||
| Other non-current assets |
|
14,697 |
|
|
14,448 |
|
|||
| Total non-current assets |
|
516,785 |
|
|
573,810 |
|
|||
| Total assets | $ |
1,029,746 |
|
$ |
1,133,905 |
|
|||
| LIABILITIES AND EQUITY | |||||||||
| Current liabilities | |||||||||
| Accounts payable | $ |
44,977 |
|
$ |
46,785 |
|
|||
| Accrued expenses and other current liabilities |
|
39,749 |
|
|
36,656 |
|
|||
| Accrued compensation and related benefits |
|
29,206 |
|
|
33,877 |
|
|||
| Deferred revenues - short-term |
|
46,347 |
|
|
52,610 |
|
|||
| Operating lease liabilities - short-term |
|
6,935 |
|
|
6,498 |
|
|||
| Total current liabilities |
|
167,214 |
|
|
176,426 |
|
|||
| Non-current liabilities | |||||||||
| Deferred revenues - long-term |
|
19,057 |
|
|
23,655 |
|
|||
| Deferred income taxes |
|
507 |
|
|
723 |
|
|||
| Operating lease liabilities - long-term |
|
25,155 |
|
|
12,162 |
|
|||
| Contingent consideration - long-term |
|
4,933 |
|
|
11,900 |
|
|||
| Other non-current liabilities |
|
19,889 |
|
|
24,200 |
|
|||
| Total non-current liabilities |
|
69,541 |
|
|
72,640 |
|
|||
| Total liabilities |
|
236,755 |
|
|
249,066 |
|
|||
| Equity | |||||||||
| Ordinary shares, |
|||||||||
| at December 31, 2024 and 2023, respectively; 71,716 shares and 69,656 shares outstanding at December 31, 2024 and 2023, respectively | $ |
202 |
|
$ |
195 |
|
|||
| Treasury shares at cost, 266 and 0 shares at December 31, 2024 and 2023, respectively |
|
(1,995 |
) |
|
- |
|
|||
| Additional paid-in capital |
|
3,123,024 |
|
|
3,091,649 |
|
|||
| Accumulated other comprehensive loss |
|
(8,031 |
) |
|
(7,079 |
) |
|||
| Accumulated deficit |
|
(2,320,209 |
) |
|
(2,199,926 |
) |
|||
| Total Equity |
|
792,991 |
|
|
884,839 |
|
|||
| Total liabilities and equity | $ |
1,029,746 |
|
$ |
1,133,905 |
|
|||
| Stratasys Ltd. | ||||||||||||||||
| Consolidated Statements of Operations | ||||||||||||||||
| (in thousands, except per share data) | ||||||||||||||||
| (Unaudited) | ||||||||||||||||
Three Months Ended December 31, |
|
Twelve Ended December 31, |
||||||||||||||
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
||
| Revenues | ||||||||||||||||
| Products | $ |
105,035 |
|
$ |
110,388 |
|
$ |
391,917 |
|
$ |
433,741 |
|
||||
| Services |
|
45,324 |
|
|
45,949 |
|
|
180,541 |
|
|
193,857 |
|
||||
|
150,359 |
|
|
156,337 |
|
|
572,458 |
|
|
627,598 |
|
|||||
| Cost of revenues | ||||||||||||||||
| Products |
|
53,587 |
|
|
58,275 |
|
|
197,807 |
|
|
226,510 |
|
||||
| Services |
|
27,083 |
|
|
28,304 |
|
|
117,835 |
|
|
134,064 |
|
||||
|
80,670 |
|
|
86,579 |
|
|
315,642 |
|
|
360,574 |
|
|||||
| Gross profit |
|
69,689 |
|
|
69,758 |
|
|
256,816 |
|
|
267,024 |
|
||||
| Operating expenses | ||||||||||||||||
| Research and development, net |
|
24,785 |
|
|
25,078 |
|
|
99,142 |
|
|
94,425 |
|
||||
| Selling, general and administrative |
|
54,604 |
|
|
39,006 |
|
|
243,335 |
|
|
260,179 |
|
||||
|
79,389 |
|
|
64,084 |
|
|
342,477 |
|
|
354,604 |
|
|||||
| Operating income (loss) |
|
(9,700 |
) |
|
5,674 |
|
|
(85,661 |
) |
|
(87,580 |
) |
||||
| Financial income, net |
|
176 |
|
|
846 |
|
|
1,676 |
|
|
2,993 |
|
||||
| Income (loss) before income taxes |
|
(9,524 |
) |
|
6,520 |
|
|
(83,985 |
) |
|
(84,587 |
) |
||||
| Income tax expense |
|
653 |
|
|
637 |
|
|
2,973 |
|
|
5,782 |
|
||||
| Share in losses of associated companies |
|
31,766 |
|
|
20,839 |
|
|
33,325 |
|
|
32,705 |
|
||||
| Net loss | $ |
(41,943 |
) |
$ |
(14,956 |
) |
$ |
(120,283 |
) |
$ |
(123,074 |
) |
||||
| Net loss per share | ||||||||||||||||
| Basic | $ |
(0.59 |
) |
$ |
(0.22 |
) |
$ |
(1.70 |
) |
$ |
(1.79 |
) |
||||
| Diluted | $ |
(0.59 |
) |
$ |
(0.22 |
) |
$ |
(1.70 |
) |
$ |
(1.79 |
) |
||||
| Weighted average ordinary shares outstanding | ||||||||||||||||
| Basic |
|
71,406 |
|
|
69,375 |
|
|
70,858 |
|
|
68,666 |
|
||||
| Diluted |
|
71,406 |
|
|
69,375 |
|
|
70,858 |
|
|
68,666 |
|
||||
Three Months Ended December 31, |
||||||||||||||||||||||||
|
2024 |
|
|
Non-GAAP |
|
|
2024 |
|
|
|
2023 |
|
|
Non-GAAP |
|
|
2023 |
|
||||||
GAAP |
|
Adjustments |
|
Non-GAAP |
|
GAAP |
|
Adjustments |
|
Non-GAAP |
||||||||||||||
|
||||||||||||||||||||||||
| Gross profit (1) | $ |
69,689 |
|
$ |
4,866 |
|
$ |
74,555 |
$ |
69,758 |
|
$ |
6,565 |
|
$ |
76,323 |
||||||||
| Operating income (loss) (1,2) |
|
(9,700 |
) |
|
19,144 |
|
|
9,444 |
|
|
5,674 |
|
|
(3,659 |
) |
|
2,015 |
|
||||||
| Net income (loss) (1,2,3) |
|
(41,943 |
) |
|
50,462 |
|
|
8,519 |
|
|
(14,956 |
) |
|
16,604 |
|
|
1,648 |
|
||||||
| Net income (loss) per diluted share (4) | $ |
(0.59 |
) |
$ |
0.71 |
|
$ |
0.12 |
|
$ |
0.22 |
|
$ |
0.24 |
|
$ |
0.02 |
|
||||||
(1) |
Acquired intangible assets amortization expense |
|
4,496 |
|
|
5,446 |
|
|||||||||||||||||
| Non-cash stock-based compensation expense |
|
198 |
|
|
879 |
|
||||||||||||||||||
| Restructuring and other related costs |
|
172 |
|
|
240 |
|
||||||||||||||||||
|
4,866 |
|
|
6,565 |
|
|||||||||||||||||||
(2) |
Acquired intangible assets amortization expense |
|
1,153 |
|
|
1,688 |
|
|||||||||||||||||
| Non-cash stock-based compensation expense |
|
2,856 |
|
|
6,997 |
|
||||||||||||||||||
| Restructuring and other related costs |
|
5,275 |
|
|
461 |
|
||||||||||||||||||
| Revaluation of investments |
|
4,697 |
|
|
- |
|
||||||||||||||||||
| Contingent consideration |
|
(9,148 |
) |
|
(23,206 |
) |
||||||||||||||||||
| Net loss from sale of investment |
|
4,760 |
|
|
- |
|
||||||||||||||||||
| Legal and other expenses |
|
4,685 |
|
|
3,836 |
|
||||||||||||||||||
|
14,278 |
|
|
(10,224 |
) |
|||||||||||||||||||
|
19,144 |
|
|
(3,659 |
) |
|||||||||||||||||||
(3) |
Corresponding tax effect and other expenses |
|
535 |
|
|
489 |
|
|||||||||||||||||
| Equity method related amortization, divestments and impairments |
|
30,910 |
|
|
19,790 |
|
||||||||||||||||||
| Finance income |
|
(127 |
) |
|
(16 |
) |
||||||||||||||||||
$ |
50,462 |
|
$ |
16,604 |
|
|||||||||||||||||||
(4) |
Weighted average number of ordinary shares outstanding - Diluted |
|
71,406 |
|
|
71,740 |
|
|
69,375 |
|
|
69,801 |
|
|||||||||||
Twelve Months Ended December 31, |
||||||||||||||||||||||||
|
2024 |
|
|
Non-GAAP |
|
|
2024 |
|
|
|
2023 |
|
|
Non-GAAP |
|
|
2023 |
|
||||||
GAAP |
|
Adjustments |
|
Non-GAAP |
|
GAAP |
|
Adjustments |
|
Non-GAAP |
||||||||||||||
|
||||||||||||||||||||||||
| Gross profit (1) | $ |
256,816 |
|
$ |
24,948 |
|
$ |
281,764 |
$ |
267,024 |
|
$ |
35,764 |
|
$ |
302,788 |
||||||||
| Operating income (loss) (1,2) |
|
(85,661 |
) |
|
90,594 |
|
|
4,933 |
|
|
(87,580 |
) |
|
100,207 |
|
|
12,627 |
|
||||||
| Net income (loss) (1,2,3) |
|
(120,283 |
) |
|
124,520 |
|
|
4,237 |
|
|
(123,074 |
) |
|
130,783 |
|
|
7,709 |
|
||||||
| Net income (loss) per diluted share (4) | $ |
(1.70 |
) |
$ |
1.76 |
|
$ |
0.06 |
|
$ |
(1.79 |
) |
$ |
1.90 |
|
$ |
0.11 |
|
||||||
(1) |
Acquired intangible assets amortization expense |
|
18,576 |
|
|
19,603 |
|
|||||||||||||||||
| Non-cash stock-based compensation expense |
|
3,072 |
|
|
3,701 |
|
||||||||||||||||||
| Restructuring and other related costs |
|
3,300 |
|
|
12,460 |
|
||||||||||||||||||
|
24,948 |
|
|
35,764 |
|
|||||||||||||||||||
(2) |
Acquired intangible assets amortization expense |
|
5,847 |
|
|
9,167 |
|
|||||||||||||||||
| Non-cash stock-based compensation expense |
|
22,546 |
|
|
27,917 |
|
||||||||||||||||||
| Restructuring and other related costs |
|
17,419 |
|
|
7,087 |
|
||||||||||||||||||
| Revaluation of investments |
|
6,597 |
|
|
4,880 |
|
||||||||||||||||||
| Contingent consideration |
|
(7,595 |
) |
|
(22,331 |
) |
||||||||||||||||||
| Net loss from sale of investment |
|
4,760 |
|
|
- |
|
||||||||||||||||||
| Legal and other expenses |
|
16,072 |
|
|
37,723 |
|
||||||||||||||||||
|
65,646 |
|
|
64,443 |
|
|||||||||||||||||||
|
90,594 |
|
|
100,207 |
|
|||||||||||||||||||
(3) |
Corresponding tax effect |
|
1,267 |
|
|
3,894 |
|
|||||||||||||||||
| Equity method related amortization, divestments and impairments |
|
31,262 |
|
|
24,871 |
|
||||||||||||||||||
| Finance expenses |
|
1,397 |
|
|
1,811 |
|
||||||||||||||||||
$ |
124,520 |
|
$ |
130,783 |
|
|||||||||||||||||||
(4) |
Weighted average number of ordinary shares outstanding - Diluted |
|
70,858 |
|
|
71,177 |
|
|
68,666 |
|
|
69,233 |
|
|||||||||||
| Reconciliation of GAAP net loss to Adjusted EBITDA | ||||||||
Three months ended
|
Twelve months ended
|
|||||||
2024 |
2023 |
2024 |
2023 |
|||||
( |
||||||||
| Net loss | (41,943 |
) |
(14,956 |
) |
(120,283 |
) |
(123,074 |
) |
| Financial income, net | (176 |
) |
(846 |
) |
(1,676 |
) |
(2,993 |
) |
| Income tax expenses | 653 |
|
637 |
|
2,973 |
|
5,782 |
|
| Share in losses of associated companies | 31,766 |
|
20,839 |
|
33,325 |
|
32,705 |
|
| Depreciation expenses | 5,033 |
|
5,653 |
|
21,030 |
|
22,417 |
|
| Amortization expenses | 5,649 |
|
7,134 |
|
24,423 |
|
28,770 |
|
| Non-cash stock-based compensation expense | 3,054 |
|
7,876 |
|
25,618 |
|
31,614 |
|
| Revaluation of investments | 4,697 |
|
- |
|
6,597 |
|
4,880 |
|
| Net loss from sale of investment | 4,760 |
|
- |
|
4,760 |
|
- |
|
| Contingent consideration | (9,148 |
) |
(23,206 |
) |
(7,595 |
) |
(22,331 |
) |
| Legal and other expenses | 4,685 |
|
3,836 |
|
16,072 |
|
37,723 |
|
| Restructuring and other related costs | 5,447 |
|
701 |
|
20,719 |
|
12,460 |
|
| Impairments of long lived assets | - |
|
- |
|
- |
|
7,087 |
|
| Adjusted EBITDA | 14,477 |
|
7,668 |
|
25,963 |
|
35,040 |
|
| Stratasys Ltd. | ||
| Reconciliation of GAAP Net Loss to Non-GAAP Net Income Forward Looking Guidance: | ||
| Fiscal Year 2025 | ||
| (in millions, except per share data) | ||
|
||
|
||
| GAAP net loss |
( |
|
|
||
| Adjustments |
|
|
| Stock-based compensation expense |
|
|
| Intangible assets amortization expense |
|
|
| Reorganization and other |
|
|
| Tax expense related to Non-GAAP adjustments |
|
|
|
||
| Non-GAAP net income |
|
|
|
||
| GAAP loss per share |
( |
|
|
||
| Non-GAAP diluted earnings per share |
|
|
|
||
|
||
| Reconciliation of GAAP Net Loss to Adjusted EBITDA Forward Looking Guidance: | ||
|
||
| Fiscal Year 2025 | ||
|
||
| (in millions, except per share data) | ||
|
||
|
||
| GAAP net loss |
( |
|
|
||
| Adjustments |
|
|
| Stock-based compensation expense |
|
|
| Intangible assets amortization expense |
|
|
| Reorganization and other |
|
|
| Tax expense related to Non-GAAP adjustments |
|
|
| Other non-operating expense |
|
|
| Depreciation |
|
|
|
||
| Adjusted EBITDA |
|
|
|
||
|
||
| Stratasys Ltd. | ||
|
||
| Reconciliation of GAAP Operating Loss to Adjusted Non-GAAP Operating Income: | ||
|
||
| Fiscal Year 2025 | ||
|
||
| (in millions, except per share data) | ||
|
||
|
||
| GAAP operating loss |
( |
|
| GAAP operating margins |
- |
|
|
||
| Adjustments |
|
|
| Stock-based compensation expense |
|
|
| Intangible assets amortization expense |
|
|
| Reorganization and other |
|
|
|
||
| Non-GAAP operating profit |
|
|
| Non-GAAP operating margins |
|
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20250305116042/en/
Yonah Lloyd
CCO, VP Investor Relations
Yonah.Lloyd@stratasys.com
Source: Stratasys Ltd.
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