- Though its Q2 results were in-line, Stratasys (NASDAQ:SSYS) is guiding for Q3 revenue of $175M-$190M and EPS of $0.03-$0.13, below a consensus of $216.5M and $0.47. In addition, the company has withdrawn its full-year guidance, citing "limited visibility regarding the timing of improvements in growth."
- Stratasys adds it thinks the 3D printing/additive manufacturing industry is "transitioning through a period of slower growth, as users digest their investments in 3D printing and expand the utilization of recently acquired capacity." It also reports seeing Asian macro challenges, while insisting it it remains optimistic about longer-term growth prospects.
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Key numbers: Q2 product revenue (printers/materials) fell 13% Y/Y to $134.5M, while services revenue rose 96% to $47.8M. Gross margin was 54.7% vs. 54.1% in Q1 and 59.8% a year ago. Operating expenses rose 23% Y/Y to $96.1M. Stratasys ended Q2 with $502.6M in cash, and $175M in short-term debt.
- Stratasys has fallen to $30.34 premarket. Rival 3D Systems (DDD) has fallen to $13.80 ahead of its Aug. 6 Q2 report.
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Q2 results, PR