Stratasys (SSYS) Tops Q2 EPS by 4c, beats revenue, reitterates outlook

Stratasys (NASDAQ: SSYS) reported Q2 EPS of $0.04, $0.04 better than the analyst estimate of $0.00. Revenue for the quarter came in at $159.8 million versus the consensus estimate of $154.26 million.

2023 Financial Outlook:

Based on current market conditions and assuming that the impacts of global inflationary pressures, interest rate hikes and supply chain costs do not impede economic activity further, the Company is reiterating its revenue guidance and the remainder of its outlook for 2023, other than GAAP earnings, as follows:

Full year revenue of $630 million to $670 million.
Sequential quarterly revenue growth, notably higher in the second half.
Based on current logistics and materials costs, full year non-GAAP gross margins of 48.0% to 49.0%, with a majority of the year-over-year improvement in the second half of 2023.
Full year non-GAAP operating expenses in the range of $290 million to $300 million.
Full year non-GAAP operating margins in a range of 2.5% to 3.5%, with improving profitable margins as the year progresses.
GAAP net loss of $115 million to $96 million, or ($1.66) to ($1.39) per diluted share, which includes one-time extraordinary costs associated with the proxy contest and merger-related activities.
Non-GAAP net income of $9 million to $17 million, or $0.12 to $0.24 per diluted share.
Adjusted EBITDA of $35 million to $50 million.
Capital expenditures of $20 million to $25 million.

For earnings history and earnings-related data on Stratasys (SSYS) click here.

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