MINNEAPOLIS, MN & REHOVOT, Israel, May 17, 2023 – Stratasys Ltd. announced financial results for first quarter 2023. Revenue for the first quarter 2023 was $149.4M, down 6.2% compared to $159.3M for the fourth quarter of 2022. GAAP net loss was $22.2M.

Dr. Yoav Zeif, Stratasys’ chief executive officer stated, “Stratasys continues to execute our winning strategy, driven by our broad, global, diverse set of systems, materials, and software solutions. Utilization of our systems is growing, resulting in our highest ever quarter for recurring revenues from both consumables and customer service, even as clients’ capital budgets remain constrained. Our margin profile remains strong, and we delivered our seventh consecutive quarter of positive adjusted earnings per share, demonstrating the resiliency of our business model.”

Dr. Zeif continued, “Engagement with our customers across our entire suite of existing and new technologies remains robust, and we were excited to introduce transformative new dental hardware and materials offerings that will stimulate meaningful future growth. We expect the recently closed addition of Covestro’s additive manufacturing business to expand our leading position in higher-margin consumables offerings and significantly increase our recurring stream of revenue. Supported by our strong balance sheet, we continue to make the investments to drive disruptive innovation, such as our partnership with CollPlant to transform regenerative medicine. We expect to deliver outsized growth and industry share gains when macroeconomic headwinds subside and the additive manufacturing industry expands.”

A complete chart of the financial results is available here.

About Stratasys

Stratasys is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries such as aerospace, automotive, consumer products and healthcare. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage in the product value chain. The world’s leading organizations turn to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.

To learn more about Stratasys, visit www.stratasys.com.