Stratasys Ltd., a leader in polymer 3D printing solutions, announced its financial results for the third quarter ended September 30, 2025.
"Our third quarter results demonstrate the resilience of our business model that enabled us to deliver solid operating cash flow and positive adjusted earnings per share, through the combination of strong recurring revenues, disciplined cost management and operational excellence," said Dr. Yoav Zeif, CEO of Stratasys. "Our industry-leading balance sheet, with $255 million in cash, cash equivalents and short-term deposits and no debt, enables us to build the foundational infrastructure that will drive our expansion in aerospace and defense, automotive tooling, dentures, precision machine components, and medical anatomic modeling. We are strategically investing in the technological capabilities and customer relationships that position us to capture substantial growth as these high-value applications scale. Customer engagement remains robust across these verticals, with active partnerships on compelling use cases that reinforce our confidence in our competitive positioning and additive manufacturing's long-term trajectory."
"Our success with leaders of industry and major technology companies validates our solutions' critical role in production environments. The fundamental trends driving manufacturing transformation - supply chain localization, sustainability goals, personalization, and efficiency demands - continue to intensify. As customer spending patterns normalize, we remain well-positioned to capitalize on these secular drivers and deliver shareholder value through our comprehensive portfolio of systems, materials, and software solutions.”
Summary - Third Quarter 2025 Financial Results Compared to Third Quarter 2024:
- Revenue of $137.0 million compared to $140.0 million.
- GAAP gross margin of 41.0%, compared to 44.8%.
- Non-GAAP gross margin of 45.3%, compared to 49.6%.
- GAAP operating loss of $22.7 million, compared to an operating loss of $25.5 million.
- Non-GAAP operating income of $0.1 million, compared to an operating loss of $0.1 million.
- GAAP net loss of $55.6 million, or $0.65 per diluted share, compared to a net loss of $26.6 million, or $0.37 per diluted share.
- Includes non-cash impairment of $33.9 million, or $0.40 per share related to Ultimaker investment.
- Non-GAAP net income of $1.5 million, or $0.02 per diluted share, compared to net income of $0.4 million, or $0.01 per diluted share.
- Adjusted EBITDA of $5.0 million, compared to $5.1 million.
- Cash provided by operating activities of $6.9 million, compared to cash used in operating activities of $4.5 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 reiterating its non-GAAP outlook and adjusting the GAAP Net Loss and EPS due to the above-referenced non-cash impairment to be as follows:
- Full year revenue of $550 million to $560 million.
- Full year non-GAAP gross margins of 46.7% to 47.0%.
- Full year non-GAAP operating expenses to range from $248 million to $251 million.
- Full year GAAP operating margins to range from (13)% to (11)%.
- Full year non-GAAP operating margins to range from 1.5% to 2.0%.
- GAAP net loss ranging from $110 million to $99 million, and GAAP EPS of ($1.34) to ($1.21).
- Adjusted EBITDA ranging from $30 million to $32 million.
- Capital expenditures ranging from $20 million to $25 million.
- Positive operating cash flow.
- 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, guidance for GAAP gross margin or a reconciliation of our guidance for non-GAAP gross margins to the most directly comparable GAAP financial measure (i.e., GAAP gross margin), as we are unable to do so without unreasonable effort or with reasonable certainty from a quantitative perspective.
Stratasys Ltd. Third Quarter 2025 Webcast and Conference Call Details
The Company plans to webcast its conference call to discuss its third quarter 2025 financial results on Thursday, November 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=utWHBI2d
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.
