Stratasys Ltd., a leader in polymer 3D printing solutions, announced its financial results for the third quarter ended September 30, 2026.
“Our third quarter results reflect the successful ongoing shift from rapid prototyping to manufacturing, as reflected in the 4.1% growth year over year, supported by disciplined expense management,” said Dr. Yoav Zeif, CEO of Stratasys. “Our largest business, aerospace and defense, grew more than 35% year-over-year, in addition to growth in our automotive, dental and Stratasys Direct businesses. We continue to experience robust customer engagement across our pipeline as we navigate longer and more variable timelines for large, production-focused awards, which we have factored into our updated outlook. Demand for industrial additive manufacturing is increasingly structural, driven by megatrends such as onshoring, speed, cost and the need for resilient supply chains. With our debt-free balance sheet and strong cash position, we are poised to keep investing in our strategy to create long-term value for all stakeholders.”
Summary - Third Quarter 2026 Financial Results Compared to Third Quarter 2025:
- Revenue of $142.6 million up 4.1% compared to $137.0 million, and a 3.6% sequential increase from $137.6 million in the second quarter of 2026.
- GAAP gross margin of 43.7%, compared to 41.0%.
- Non-GAAP gross margin of 47.8%, compared to 45.3% primarily due to improved margins in the mix of systems sales and a tariff credit, partially offset by lower consumables revenue.
- GAAP operating loss of $11.0 million, compared to GAAP operating loss of $22.7 million.
- Non-GAAP operating income of $2.7 million, compared to $0.1 million.
- GAAP net loss of $10.2 million, or ($0.12) per diluted share, compared to net loss of $55.6 million, or ($0.65) per diluted share, which included a non-cash impairment of $33.9 million, or $0.40 per diluted share, related to Ultimaker investment.
- Non-GAAP net income of $3.5 million, or $0.04 per diluted share, compared to $1.5 million, or $0.02 per diluted share.
- Adjusted EBITDA of $8.0 million, compared to $5.0 million.
- Cash generated by operations of $3.5 million, compared to $6.9 million.
Financial Outlook:
The Company is adjusting its outlook for full year 2026. This outlook is based on current market conditions and assumes that the impacts of global inflationary pressures, relatively high interest rates, tariffs, exchange rates and other supply chain costs do not further impede economic activity. The specific metrics include adjustments that reflect longer sales cycles and greater variability in timing associated with larger, production-focused orders:
- Full year revenue of $556 million to $561 million, compared to the prior range of $565 million to $575 million, representing sequential improvement during the year.
- Full year non-GAAP gross margins of 46.6% to 46.7%, compared to prior range of 46.7% to 47.1%.
- Full year non-GAAP operating expenses ranging from $256 million to $257 million, compared to prior range of $260 million to $262 million.
- Full year non-GAAP operating margins in a range of 0.6% to 0.9%, compared to prior range of 0.7% to 1.5%.
- GAAP net loss of $77 million to $64 million, or ($0.88) to ($0.73) per diluted share, compared to prior range of $83 million to $67 million, or ($0.95) to ($0.76) per diluted share.
- Non-GAAP net income of $9 million to $11 million, or $0.10 to $0.12 per diluted share, compared to prior range of $8 million to $12.5 million, or $0.09 to $0.14 per diluted share.
- Adjusted EBITDA of $24 million to $26 million, with Adjusted EBITDA margin of 4.0% to 4.5%, compared to prior range of $25 million to $30 million, with Adjusted EBITDA margin of 4.5% to 5.0%.
- Capital expenditures of $15 million to $20 million.
Appropriate reconciliations between historical GAAP and non-GAAP financial measures, as well as between the GAAP and non-GAAP financial measures included in our updated financial outlook for 2026, are provided in the tables at the end of this press release and slide presentation, with itemized detail concerning the non-GAAP financial measures. We have not included, however, guidance for 2026 for GAAP gross margin or GAAP operating expenses, or a reconciliation of our guidance for 2026 for non-GAAP gross margins or non-GAAP operating expenses to the most directly comparable GAAP financial measures (i.e., GAAP gross margin and GAAP operating expenses, respectively), as the information needed to provide that GAAP guidance and that reconciliation is not available to us without unreasonable effort or with reasonable certainty from a quantitative perspective. We expect that the foregoing missing information related to our outlook on a GAAP basis for 2026 is likely to result in significant changes relative to our non-GAAP outlook in respect of the subject financial measures.
Stratasys Ltd. Third Quarter 2026 Webcast and Conference Call Details
The Company plans to webcast its conference call to discuss its third quarter 2026 financial results on Thursday, November 12, 2026, at 8:30 AM 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=0uO1fT80
To participate by telephone, the U.S. toll-free number is 877-407-0619 and the international dial-in is +1-412-902-1012. Investors are advised to dial into the call at least ten minutes prior to the call to register. The webcast will be available for six months at investors.stratasys.com, or by accessing the above-provided web address.
