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Stratasys sees marginal revenue growth in Q3 2022 despite “challenging global economic backdrop”

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3D printer OEMStratasys(SSYS) has announced that its revenue rose 2.0% during Q3 2022 despite facing continued macroeconomic headwinds.

Stratasys brought in $162.2 million during Q3 2022, a marginal improvement on the $159.0 million it generated in Q3 2021, but a 3.1% decline against Q2 2022. The firm credits its annual revenue growth to strong demand for its 3D printers, but admits that prolonged sales cycles and delays in acquiring consumables impacted its quarterly numbers.

“我们在七年内获得了最高的第三季度收入。这是由于我们的系统增长18.9%的驱动,不包括退化和恒定的货币基础。” Stratasys首席执行官Yoav Zeif博士说。“现在,我们已经连续五个季度获得了积极的收入,这表明了我们独特的能力,即使在充满挑战的全球经济背景下,我们也可以产生盈利的增长。”

使用Stratasys的Dentajet J5 3D打印机的工程师。通过Stratasys的照片。
使用Stratasys的Dentajet J5 3D打印机的工程师。通过Stratasys的照片。

Stratasys的第三季度2022财务

In Q3 2022, Products remained Stratasys’ largest revenue generator, bringing in $112.1 million, a 2.9% rise on the $108.9 million it turned over in Q3 2021. On the firm’s earnings call, Zeif said this growth was driven by demand for its systems, which jumped 18.9% over the same period, when adjusted for divestitures and exchange rate changes.

In particular, the Stratasys CEO highlighted the contribution of its SaaS, P3, and Neo offerings, which more than doubled its addressable market and “opened up new use cases and opportunities to replace traditional manufacturing.” Zeif added that the company’s core FDM portfolio also delivered solid growth during Q3 2022, and committed to “expanding and improving” its product lineup in this area.

相比之下,Stratasys产品部门的消耗品部分产生的收入同比下降1.4%,带来了5580万美元。尽管该业务在同一时期增长了3.4%,但如果未经剥离的影响和恒定的货币基础,它确实遭受了更大的放缓。据说,据说对Stratasys的P3材料的需求受到了特别严重的影响。

Stratasys’ other segment, Services, turned over revenue of $50.1 million, which was flat against Q3 2021 and 1.6% down against Q2 2022. Zeif later explained that in line with the company’s business model, its material and service sales are lagging behind those of its hardware. As Stratasys continues expanding its user base, he said this will also drive higher demand for other parts of its offering.

收入($) Q2 2022 Q3 2022 Difference ($) 区别 (%) Q3 2021 Q3 2022 Difference ($) 区别 (%)
Products 115.7m 112.1m -3.6m -3.1 1089m 112.1m +3.2m + 2.9
Services 50.9m 50.1m -0.8m -1.6 50.1m 50.1m
Total 166.6m 162.2m -4.2m -2.6 159.0m 162.2m +3.2m +2.0

Portfolio expansion continues in Q3

During Q3, Zeif said Stratasys “laid the foundations for further growth” via the launch of new products that will “drive its industry leadership for the long term.” This was particularly the case in the firm’s material business. In an update on Stratasys’ acquisition ofCovestro的3D打印聚合物division, Zeif explained how it would “accelerate next generation material development,” once completed in Q1 2023.

在本季度,Stratasys还验证了另外13个FDM聚合物,包括由VictrexandKimya. While some of these included new color variants, Zeif explained how with materials like theULTEM 9085热塑性塑料,这可以在铁路,航空航天和汽车行业中生产更多的零件。

For itsOrigin One 3D printer, Stratasys introduced two new validated industrial materials over Q3, includingP3 Stretch 475and another from亨克尔的Loctite range. The latter is already said to have found applications in the 3D printing of end-use door seals. The firm alsolaunched P3 Deflect 120 with Evonik,一种抗温度的材料,具有生产模具的潜力。

在其他地方,该公司的投资活动也没有放慢速度。Stratasys同意购买3D打印软件开发人员Rivenin the opening weeks of Q4, and it poured $10 million into medtech startupAxial3Drecent funding round. Having done so, the firm is now working with Axial3D on a joint offering, designed to lower the barriers to entering 3D printing for hospitals in many key markets.

A heat-deflecting cap 3D printed from Stratasys' P3 Deflect 120 material. Photo via Stratasys.
由Stratasys的P3偏转120材料印刷的热感应帽3D。通过Stratasys的照片。

Guidance revised for FY 2022

Due to current headwinds, including global supply chain costs, rising interest rates, currency risks and inflation, Stratasys has revised its FY 2022 forecast to between $648 million and $652 million. This takes into account the $17 million impact ofStratasys’ MakerBot divestiture, and the $13 million in revenue the firm expects to miss out on, as clients delay purchases amid macroeconomic uncertainty.

但是,在第三季度,Stratasys在其运营活动上花费了1,840万美元,反映了对库存的投资,以便更好地处理供应链问题。随着公司的安装基础的不断增长,Zeif表示,其更广泛的消耗品组合还将支付股息,不仅在扩大其技术的应用方面,而且可以提高其盈利能力。

Zeif补充说:“我们对材料投资组合在多种技术中的显着扩展感到兴奋,我们认为这将在未来几年推动更高的利润消耗品销售。”“此外,作为我们增长战略的一部分,我们将继续选择性地增加和孵化互补的新技术驱动的企业,我们期望将来刺激逐步增长。”

“ Stratasys是理想的定位,可以提供必要的解决方案,以促进客户从原型制作到加性制造的持续转变。”

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Featured image shows an engineer using Stratasys’ DentaJet J5 3D printer. Photo via Stratasys.