Stratasys Ltd., a leader in polymer 3D printing solutions, announced its financial results for the second quarter ended June 30, 2025.
“Our results once again reflect resilience from our recurring revenue streams and the reliance customers place on our additive manufacturing technologies," commented Dr. Yoav Zeif, Stratasys' Chief Executive Officer. “Amidst prolonged macroeconomic uncertainty and restrained customer capital spending, our revenues this quarter grew slightly over the second quarter last year, as our business model continues to demonstrate significant staying power. Importantly, we are making meaningful progress in delivering on key use cases with major customers that will begin flowing through to our financial results in the future. While we cannot control the timing, we are encouraged by the substantial new business opportunities that we believe are advancing through final stages toward eventual award.”
Dr. Zeif continued, “Our recently bolstered balance sheet provides increased financial flexibility to invest in innovation, pursue growth opportunities, and execute enhanced operational efficiency. Despite the quality of our pipeline, the macroeconomic improvement that is likely to drive increased capital spending by our customers is taking longer than we previously anticipated. We view the impact of these headwinds as transitory, and our longer-term expectations for the industry and our leadership in it as unchanged. Our comprehensive technology portfolio and the inherent advantages of additive manufacturing position us well to capture opportunities and deliver sustainable value for all stakeholders once these challenges inevitably subside.”
Summary - Second Quarter 2025 Financial Results Compared to Second Quarter 2024:
- Revenue of $138.1 million compared to $138.0 million.
- GAAP gross margin of 43.1%, compared to 43.8%.
- Non-GAAP gross margin of 47.7%, compared to 49.0%.
- GAAP operating loss of $16.6 million, compared to an operating loss of $26.0 million.
- Non-GAAP operating income of $1.1 million, compared to an operating loss of $3.2 million.
- GAAP net loss of $16.7 million, or $0.20 per diluted share, compared to a net loss of $25.7 million, or $0.36 per diluted share.
- Non-GAAP net income of $2.2 million, or $0.03 per diluted share, compared to a net loss of $3.0 million, or $0.04 per diluted share.
- Adjusted EBITDA of $6.1 million, compared to $2.3 million.
- Cash used in operating activities of $1.1 million, compared to $2.4 million.
Financial Outlook:
- Based on current market conditions and assuming that the impacts of tariff policy, global inflationary pressures, relatively high interest rates and supply chain costs do not impede economic activity further, the Company is updating its outlook for 2025 to be as follows:
- Full year revenue of $550 million to $560 million.
- Third quarter slightly lower to slightly higher than second quarter, fourth quarter higher than third quarter.
- Full year non-GAAP gross margins of 46.7% to 47.0%.
- Full year operating expenses to range from $248 million to $251 million.
- Full year non-GAAP operating margins to range from 1.5% to 2.0%.
- Adjusted EBITDA ranging from $30 million to $32 million.
- Fourth quarter 2025 Adjusted EBITDA to be 8.0% or more of revenue.
- Capital expenditures ranging from $20 million to $25 million.
- Positive operating cash flow.
- GAAP net loss ranging from $77 million to $66 million, and GAAP EPS of ($0.94) to ($0.80).
- Non-GAAP net income ranging from $11 million to $13 million, and Non-GAAP EPS ranging from $0.13 to $0.16.
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 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. Second Quarter 2025 Webcast and Conference Call Details
The Company plans to webcast its conference call to discuss its second quarter 2025 financial results on Wednesday, August 13, 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=NkEiLhG2
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.
