{"id":68503,"date":"2019-07-29T13:10:53","date_gmt":"2019-07-29T05:10:53","guid":{"rendered":"http:\/\/facfox.com\/news\/aerospace\/stratasys-financial-results-updates-on-strategy-and-3d-printing-rd-pipeline.3dm"},"modified":"2019-07-29T13:10:53","modified_gmt":"2019-07-29T05:10:53","slug":"stratasys-financial-results-updates-on-strategy-and-3d-printing-rd-pipeline","status":"publish","type":"post","link":"https:\/\/facfox.com\/news\/stratasys-financial-results-updates-on-strategy-and-3d-printing-rd-pipeline\/","title":{"rendered":"Stratasys financial results, updates on strategy and 3D printing R&#038;D pipeline"},"content":{"rendered":"<div id=\"dpsp-content-top\" class=\"dpsp-content-wrapper dpsp-shape-rectangular dpsp-size-medium dpsp-has-spacing dpsp-has-buttons-count dpsp-show-on-mobile dpsp-button-style-1\">\n<div class=\"dpsp-total-share-wrapper\"><span class=\"dpsp-total-share-count\">147<\/span><span>shares<\/span><\/div>\n<ul class=\"dpsp-networks-btns-wrapper dpsp-networks-btns-content dpsp-networks-btns-share dpsp-column-auto\">\n<li><span class=\"dpsp-network-icon\"><\/span><span class=\"dpsp-network-label-wrapper\"><span class=\"dpsp-network-count\">123<\/span><\/span><\/li>\n<li><span class=\"dpsp-network-icon\"><\/span><span class=\"dpsp-network-label-wrapper\"><span class=\"dpsp-network-count\">24<\/span><\/span><\/li>\n<li><span class=\"dpsp-network-icon\"><\/span><span class=\"dpsp-network-label-wrapper\"><span class=\"dpsp-network-count\">0<\/span><\/span><\/li>\n<li><span class=\"dpsp-network-icon\"><\/span><span class=\"dpsp-network-label-wrapper\"><\/span><\/li>\n<\/ul>\n<\/div>\n<p><span style=\"font-weight: 400;\">Full year financial results for Stratasys (NASDAQ: SSYS) show a return to growth in 3D printer systems revenue, a large cash balance and an improved bottom line. However, this was not enough for investors and the share price dropped sharply after yesterday\u2019s announcement.<\/span><\/p>\n<p><b>Stratasys financial results for the fourth quarter<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Total Q4 revenue increased by 2%, to $179.3 million, compared to $175.3 million for the comparative period. The fourth Quarter GAAP net loss at Stratasys was $10.0 million, $0.19 per diluted share, and non-GAAP net income was $8.4 million, or $0.16 per diluted share.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Full year revenue for 2017 was $668.4 million compared to $672.5 million for 2016. This resulted in GAAP net loss of $40.4 million, versus $77.6 million for 2016.<\/span><\/p>\n<figure id=\"attachment_129868\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"size-large wp-image-129868\" src=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/2-1024x597.png\" alt=\"Stratasys financial results.\" width=\"1024\" height=\"597\" srcset=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/2-1024x597.png 1024w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/2-170x100.png 170w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/2-770x449.png 770w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/2-200x117.png 200w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/2-500x292.png 500w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-caption-text\">Stratasys financial results.<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Speaking to analysts and investors, Stratasys CEO Ilan Levin said a \u201cnice large order\u201d for the <\/span><span style=\"font-weight: 400;\">Stratasys H2000 system<\/span><span style=\"font-weight: 400;\"> is included in the fourth quarter revenue. Launched at IMTS 2016 as the Infinite Build, the H2000 allows partners like Boeing and Ford to 3D print \u201clonger, larger parts much faster and a lot better uptime reliability.\u201d<\/span><\/p>\n<figure id=\"attachment_95630\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-large wp-image-95630\" src=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2016\/09\/Captura-de-pantalla-2016-09-13-a-las-20.16.45-1024x676.png\" alt=\"Dick Anderson (far left) watches the Stratasys Infinite Build in action at IMTS 2016. Photo by Michael Petch\" width=\"1024\" height=\"676\" srcset=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2016\/09\/Captura-de-pantalla-2016-09-13-a-las-20.16.45-1024x676.png 1024w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2016\/09\/Captura-de-pantalla-2016-09-13-a-las-20.16.45-150x100.png 150w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2016\/09\/Captura-de-pantalla-2016-09-13-a-las-20.16.45-770x508.png 770w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2016\/09\/Captura-de-pantalla-2016-09-13-a-las-20.16.45-200x132.png 200w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2016\/09\/Captura-de-pantalla-2016-09-13-a-las-20.16.45-500x330.png 500w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2016\/09\/Captura-de-pantalla-2016-09-13-a-las-20.16.45.png 1038w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-caption-text\">The Stratasys Infinite Build in action at IMTS 2016, at the time this was a technology demonstrator and is now commercialized as the H2000. Photo by Michael Petch<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Revenue at Stratasys is segmented by Product, Systems, Consumables, Service and Customer Support, with all segments showing growth. Of these, at 7%, Customer Support revenue grew by the largest percentage. <\/span><\/p>\n<figure id=\"attachment_129869\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-large wp-image-129869\" src=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/3-1024x586.png\" alt=\"Stratasys financial results highlighting revenue for 2017.\" width=\"1024\" height=\"586\" srcset=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/3-1024x586.png 1024w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/3-770x441.png 770w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/3-200x114.png 200w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/3-500x286.png 500w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-caption-text\">Stratasys financial results highlighting revenue for 2017.<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Although the financial results show improvements in the bottom line and statements form executives provide a clear long-term strategy, the company\u2019s share price took a hit &#8211; down almost 20% on the previous day at one point. The share price has now started to recover.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A number of factors contributed to fall, perhaps the most significant being the low growth forecast for 2018, with $670 to $700 million in revenue provided as guidance. <\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">A summary of the financial results for Stratasys can be found at the end of this article.<\/span><\/i><\/p>\n<p><b>Sales and full year performance<\/b><\/p>\n<p><span style=\"font-weight: 400;\">As Stratasys has the largest installed base of industrial 3D printers in the industry, there is an expectation that revenue consumables &#8211; such as 3D printing filament &#8211; should continue to provide increasing revenue.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Stratasys FDM 3D printers are designed to use proprietary materials, that come in cartridges and canisters containing a chip that provides technical data to the printer. While 3rd party filament spools for Stratasys 3D printers are available, for example Triton 3D, using them can have warranty implications.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The slow growth forecast may be attributed in part to the long adoption cycle for industrial 3D printing. In high value industries such as medical, aerospace and automotive, internal qualification processes can be lengthy, between 2-4 years at some customers. Once a customer completes qualification, \u201cwe see an increase in business. I think over the coming years, we will see more of that,\u201d said Levin.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The <\/span><span style=\"font-weight: 400;\">F123 series of 3D printers<\/span><span style=\"font-weight: 400;\"> was successfully launched in February 2017. The F170, F270 and F370 3D printers are an important revenue driver at Stratasys. Aimed at professional rapid prototyping applications and design workgroups. This product is intended to access an untapped opportunity and will continue to add to revenue during 2018.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Lilach Payorski, Stratasys CFO said, \u201cWe remain pleased with the results of our efforts to execute on our long-term strategy and deepening customer engagement in our key verticals, while at the same time achieving greater operating efficiencies.\u201d<\/span><\/p>\n<p><b>Continuing R&amp;D<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Stratasys generated $61.9 million in cash from operations during 2017. At year end the company had $328.8 million in cash and cash equivalents, compared to $280.3 million at the end of 2016. While Levin ruled out a share repurchase, the company remains open to \u201copportunistic acquisition opportunities\u201d.<\/span><\/p>\n<figure id=\"attachment_129870\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-129870\" src=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/4-1024x593.png\" alt=\"Stratasys balance sheet summary and cash flow from operations.\" width=\"1024\" height=\"593\" srcset=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/4-1024x593.png 1024w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/4-770x446.png 770w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/4-200x116.png 200w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/4-500x289.png 500w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-caption-text\">Stratasys balance sheet summary and cash flow from operations.<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Some of this cash will be used for planned capital expenditure at Stratasys. CapEx, for 2018 will range between $40 million to $50 million. Some of these funds will finance construction projects in Rehovot, specifically the main premises for offices in R&amp;D activities.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The R&amp;D activities include the continuing development the Robotic Composite system and Evolve Additive. These activities are not anticipated to generate revenue in 2018. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">CFO Lilach Payorski said, \u201cindustry-specific and customer-centric approach to product development as the overall 3D printing market matures.\u201d<\/span><\/p>\n<p><b>3D printing industry strategy at Stratasys<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The strategy of the 3D printing company, takes \u201can increasingly more market segment approach than ever\u201d both on the the go-to-market side, account management, and \u201ca little bit on the development cycle\u201d according to Levin.<\/span><\/p>\n<figure id=\"attachment_129872\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-129872\" src=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/6-1024x578.png\" alt=\"Stratasys gives details on strategy.\" width=\"1024\" height=\"578\" srcset=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/6-1024x578.png 1024w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/6-770x435.png 770w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/6-200x113.png 200w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/6-500x282.png 500w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-caption-text\">Stratasys gives details on strategy.<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">This approach calls for the application engineers and dedicated account managers, and results in a high level of customer engagement.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">3D printing for healthcare is one of these key segments, Levin explained, \u201cwe have a lot stronger clarity today where our technologies fit in within the landscape &#8230; we&#8217;re much better able to create go-to-market initiatives solely around those areas.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While this approach to industry verticals does have parallels with that of rival enterprises, <\/span><span style=\"font-weight: 400;\">including 3D Systems<\/span><span style=\"font-weight: 400;\">, it should be noted that the strategy taken by Levin\u2019s company is different in certain ways. For example, in a recent <\/span><span style=\"font-weight: 400;\">interview with 3D Systems CEO Vyomesh Joshi<\/span><span style=\"font-weight: 400;\"> he explained how his company provides 3D printing solutions for \u201cdental labs and clinics of every size\u201d. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">In contrast to this approach Levin explained that additive manufacturing systems like the high-end J700 3D printer for the dental sector do, \u201cnot appeal across the entire universe in healthcare.\u201d Instead, Stratasys will continue, \u201cto develop long-term relationships for the future, which is what we&#8217;re trying to do across all our businesses and not necessarily place many units with many, many different customers.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The recently announced <\/span><span style=\"font-weight: 400;\">Stratasys Objet260 dental 3D printer<\/span><span style=\"font-weight: 400;\"> is another example of, \u201cpurposeful innovation\u201d at the company.<\/span><\/p>\n<figure id=\"attachment_129485\" style=\"width: 964px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-129485\" src=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/02\/objet_260_dental_3D_printer-964x1024.jpg\" alt=\"The Objet260 Dental 3D printer. Photo via Stratasys.\" width=\"964\" height=\"1024\" srcset=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/02\/objet_260_dental_3D_printer-964x1024.jpg 964w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/02\/objet_260_dental_3D_printer-770x818.jpg 770w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/02\/objet_260_dental_3D_printer-200x213.jpg 200w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/02\/objet_260_dental_3D_printer-471x500.jpg 471w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/02\/objet_260_dental_3D_printer.jpg 1440w\" sizes=\"(max-width: 964px) 100vw, 964px\" \/><figcaption class=\"wp-caption-text\">The Objet260 Dental 3D printer. Photo via Stratasys.<\/figcaption><\/figure>\n<p><b>Future products, market opportunities and 2018 financial guidance <\/b><\/p>\n<p><span style=\"font-weight: 400;\">Understanding the needs of customers and producing solutions that are of value is key to the adoption of additive manufacturing. Levin highlighted Stratasys dental solutions as an example of momentum in healthcare coming from, \u201cthe language and the specificity that we can approach the market with and put the proper go-to-market initiatives around it leading us to a better traction.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Stratasys also used the call to announce the <\/span><span style=\"font-weight: 400;\">new metal 3D printing system<\/span><span style=\"font-weight: 400;\">. On this Levin said, \u201cWe are not discussing our timeline or expectations around commercialization and we do not expect revenue associated with this new platform to be recognized in 2018.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">An update on <\/span><span style=\"font-weight: 400;\">Evolve Additive Solutions<\/span><span style=\"font-weight: 400;\">, a Stratasys subsidiary, was also given by Levin, \u201cIt&#8217;s a technology that we&#8217;ve been working on for several years. I think, it also represents a significant opportunity to displace the plastic injection molding conventional techniques. And so, we&#8217;re still working on that development process and the systems related to that.\u201d<\/span><\/p>\n<figure id=\"attachment_121779\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-121779\" src=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/09\/timeline-1024x404.jpg\" alt=\"Development of Evolve's electrophotography-based additive manufacturing process. Image via Evolve Additive\" width=\"1024\" height=\"404\" srcset=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/09\/timeline-1024x404.jpg 1024w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/09\/timeline-770x304.jpg 770w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/09\/timeline-780x309.jpg 780w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/09\/timeline-200x79.jpg 200w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/09\/timeline-500x198.jpg 500w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2017\/09\/timeline.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-caption-text\">Development of Evolve&#8217;s electrophotography-based additive manufacturing process. Image via Evolve Additive<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">For the financial year ending December 31, 2018 Stratasys provided the following guidance: <\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Revenue guidance of $670 to $700 million.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Non-GAAP net income of $16 to $27 million, or $0.30 to $0.50 per diluted share.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">GAAP net loss of $41 to $25 million, or ($0.75) to ($0.46) per diluted share.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Additional guidelines regarding the company\u2019s projected performance and strategic plans for 2018:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Non-GAAP operating margins of 4.5% to 6%.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Capital expenditures are projected at $40 to $50 million.       <\/span><\/li>\n<\/ul>\n<p><i><span style=\"font-weight: 400;\">For all the latest 3D printing financial news and analysis subscribe subscribe to our <\/span><\/i><i><span style=\"font-weight: 400;\">free newsletter<\/span><\/i><i><span style=\"font-weight: 400;\">, follow us on <\/span><\/i><i><span style=\"font-weight: 400;\">Twitter<\/span><\/i><i><span style=\"font-weight: 400;\">, and like us on <\/span><\/i><i><span style=\"font-weight: 400;\">Facebook<\/span><\/i><i><span style=\"font-weight: 400;\">.<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">Protolabs<\/span><\/i><i><span style=\"font-weight: 400;\"> is sponsoring the <\/span><\/i><i><span style=\"font-weight: 400;\">2018 <a href=\"\/service\/3d-printing\"> Industry Awards design competition<\/span><\/i><i><span style=\"font-weight: 400;\">. Submit your design now to win a 3D printer.<\/span><\/i><\/p>\n<p><b><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-129876\" src=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/Stratasys-2017-finanical-results.-1024x997.png\" alt=\"\" width=\"1024\" height=\"997\" srcset=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/Stratasys-2017-finanical-results.-1024x997.png 1024w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/Stratasys-2017-finanical-results.-770x750.png 770w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/Stratasys-2017-finanical-results.-200x195.png 200w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/Stratasys-2017-finanical-results.-500x487.png 500w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/Stratasys-2017-finanical-results..png 1278w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>Stratasys full year 2017 financial highlights<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Revenue for fiscal 2017 was $668.4 million compared to $672.5 million for fiscal 2016.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">GAAP operating loss for fiscal 2017 was $30.5 million, compared to a loss of $86.7 million for fiscal 2016.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Non-GAAP operating income was $36.7 million, compared to $29.0 million for fiscal 2016<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">GAAP net loss for fiscal 2017 was $40.0 million, or ($0.75) per diluted share, compared to a loss of $77.2 million, or ($1.48) per diluted share, for fiscal 2016.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Non-GAAP net income for fiscal 2017 was $24.2 million, or $0.45 per diluted share, compared to non-GAAP net income of $14.8 million, or $0.28 per diluted share, reported for fiscal 2016.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The Company generated $61.9 million in cash from operations in fiscal 2017.       <\/span><\/li>\n<\/ul>\n<p><b>Stratasys fourth quarter 2017 financial highlights<\/b><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Revenue for the fourth quarter of 2017 was $179.3 million, compared to $175.3 million for the same period last year.     <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">GAAP gross margin was 48.7% for the quarter, compared to a GAAP gross margin of 47.3% for the same period last year.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Non-GAAP gross margin was 52.5% for the quarter, compared to 53.6% for the same period last year.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">GAAP operating loss for the quarter was $6.0 million, compared to a loss of $29.2 million for the same period last year.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Non-GAAP operating income for the quarter was $13.5 million, compared to $11.6 million for the same period last year.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">GAAP net loss for the quarter was $10.0 million, or ($0.19) per diluted share, compared to a loss of $14.8 million, or ($0.30) per diluted share, for the same period last year.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Non-GAAP net income for the quarter was $8.4 million, or $0.16 per diluted share, compared to Non-GAAP net income of $7.8 million, or $0.15 per diluted share, reported for the same period last year.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Net R&amp;D expenses for the quarter amounted to $26.6 million, representing 14.8% of net revenues.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b><span style=\"font-weight: 400;\">The Company generated $21.0 million in cash from operations during the fourth quarter and ended the period with $328.8 million in cash and cash equivalents.    <\/span>   <\/b><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><em>Featured image show Stratasys demonstrating 3D printing applications for McClaren at TCT 2017. Photo by Michael Petch.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>147shares 123 24 0 Full year financial results for Stratasys (NASDAQ: SSYS) show a return to growth in 3D printer systems revenue, a large cash balance and an improved bottom line. However, this was not enough for investors and the share price dropped sharply after yesterday\u2019s announcement. Stratasys financial results for the fourth quarter Total [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":182558,"comment_status":"open","ping_status":"close","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"fifu_image_url":"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/03\/2-1024x597.png","fifu_image_alt":"","footnotes":""},"categories":[53],"tags":[169,170,64,173,171,158],"class_list":["post-68503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aerospace","tag-3dprint","tag-3dprinting","tag-aerospace","tag-business","tag-rapid-prototyping","tag-space"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Stratasys financial results, updates on strategy and 3D printing R&amp;D pipeline - 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