Stratasys Ltd. Has announced first quarter financial results.
Total non-GAAP revenue grew by 54% in the first quarter, and 33% when excluding the revenue contribution from MakerBot products and services, over the same period last year. System and consumables revenue grew by 40% and 29%, respectively, when excluding the contribution from MakerBot products. MakerBot branded products and services contributed $20.6 million to first quarter revenue, a 79% increase over the revenue that MakerBot generated as an independent company during the first quarter of 2013.
Sales of the company's higher-margin products and services drove a significant increase in non-GAAP gross margin for the first quarter, which expanded to a record 60.9% compared to 59.0% for the same period last year.
Operating margin expansion during 2014 within the company's core business is expected to be offset by aggressive investments in new market and product development for MakerBot products.
To view an unabridged version of this press release, visit: http://investors.stratasys.com/releasedetail.cfm?ReleaseID=846789
