Stratasys Ltd., a leader in polymer 3D printing solutions, announced its financial results for the first quarter ended March 31, 2026.
“Our first quarter results reflect the resilience of our operating model in a measured spending environment, demonstrated by positive adjusted EBITDA and operating cash flow," said Dr. Yoav Zeif, CEO of Stratasys. "Recurring revenue from consumables and customer support continued to provide stability, while Stratasys Direct delivered strong 23% organic growth year-over-year across a diverse range of industrial applications, led by drone customers. As we look forward, our current pipeline in high requirement applications, especially in defense, continues to build as we gain confidence in our ability to win prominent contracts in 2026 and beyond.”
Summary - First Quarter 2026 Financial Results Compared to First Quarter 2025:
- Revenue of $132.7 million compared to $136.0 million.
- GAAP gross margin of 41.7%, compared to 44.3%.
- Non-GAAP gross margin of 46.3%, compared to 48.3%.
- GAAP operating loss of $26.5 million, compared to a GAAP operating loss of $12.4 million.
- Non-GAAP operating loss of $3.2 million, compared to non-GAAP operating income of $3.0 million.
- GAAP net loss of $23.8 million, or ($0.28) per diluted share, compared to a net loss of $13.1 million, or ($0.18) per diluted share.
- Non-GAAP net loss of $1.3 million, or ($0.01) per diluted share, compared to non-GAAP net income of $2.9 million, or $0.04 per diluted share.
- Adjusted EBITDA of $2.0 million, compared to $8.2 million.
- Cash provided by operating activities of $2.4 million, compared to $4.5 million in the prior year period.
Financial Outlook:
The Company is reaffirming its outlook for 2026, as set forth below, which is based on current market conditions and assumes that the impacts of global inflationary pressures, relatively high interest rates, exchange rates, increased tariffs and other supply chain costs do not impede economic activity further.
- Full year revenue growing to a range of $565 million to $575 million, improving sequentially through the year.
- Based on current logistics and materials costs, full year non-GAAP gross margins of 46.7% to 47.1%, including approximately $7 million of adverse impact from tariffs and foreign exchange rates relative to 2025.
- Full year non-GAAP operating expenses ranging from $260 million to $262 million, including approximately $10 million of adverse impact from changes in foreign exchange rates.
- Full year non-GAAP operating margins in a range of 0.7% to 1.5%.
- GAAP net loss of $83 million to $67 million, or ($0.95) to ($0.76) per diluted share.
- Non-GAAP net income of $8 million to $12.5 million, or $0.09 to $0.14 per diluted share.
- Adjusted EBITDA of $25 million to $30 million, with Adjusted EBITDA margin of 4.5% to 5.0%.
- Capital expenditures of $20 million to $25 million.
- Expects to generate positive operating cash flow subject to uncertainty related to foreign exchange rates and tariffs.
Appropriate reconciliations between historical GAAP and non-GAAP financial measures, as well as between the GAAP and non-GAAP financial measures included in our financial outlook for 2026, 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 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 or 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. First Quarter 2026 Webcast and Conference Call Details
The Company plans to webcast its conference call to discuss its first quarter 2026 financial results on Thursday, May 7, 2026, 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=jBx4uZ5o
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.
