Stratasys Releases Third Quarter 2024 Financial Results By Investing.com

Comparing the results of the third quarter in 2024 to those of the same quarter, in 2023.

Stratasys CEO Dr.Yoav Zeif mentioned that the companys efforts to adapt to the market conditions are showing positive outcomes.The focus has been on cost cutting measures and prioritizing areas with potential for growth.The F3300 platform is performing well in the market and the companys presence in industries, like Aerospace,Automotive and Healthcare is steadily growing. Above all else we managed to achieve profitability excluding financial measures in the third quarter despite facing continued challenges, with revenue. This success highlights the execution of our business strategy by all members of our team.

Dr Zeif further stated that the core strength of our company is clearly reflected in the enhanced profitability and stable financial position we maintain consistently. Our ongoing revenue generated from Consumables is on a trend especially in the usage of FDM technology for manufacturing needs which helps counterbalance the decrease in hardware sales affected by broader economic factors. This supports the reliability of our recurring revenue strategy. Underscores our clients’ increasing transition, from prototyping to actual production uses. Our restructuring plan is progressing ahead of schedule. Is expected to achieve $40 million, in annual cost savings by the first quarter of next year. This positions us well to boost revenue growth and profitability in 2025 when market conditions improve and demand picks up.

Predictions for the landscape, in 2024;

Taking into account the state of the market and considering that potential challenges such as global inflationary pressures and high interest rates along with supply chain costs may not significantly hinder economic progress going forward. The company has decided to uphold its revenue forecast while also increasing its expectations, for margins and profitability in 2024.

The earnings guidance provided does not include the costs associated with share based compensation ranging from $30 million to $32 million or the projected amortization of assets expected to be, between $25 million and $27 million.

We offer comparisons between standard accounting principles (GAAP) and alternative financial metrics, in a table included in both our press release and slideshow presentation.

Stratasys Ltd.s Webcast and Conference Call Information, for the Third Quarter of 2024

The Company intends to broadcast its conference call to talk about its results for the third quarter of 2024 on Wednesday the 13th of November in 2024 at 8​ ​o'clock and thirty minutes, in the morning (ET).