Mon, May 9, 9:46 AM
- Stratasys (NASDAQ:SSYS) is up 5.8% out of the open after posting Q1 results after it beat exepctations and nearly erased GAAP losses from the year prior.
- The company lost $23.1M on a GAAP basis, compared to a loss of $216.3M a year ago. Adjusted EPS came in at $0.01 vs. an expected loss of $0.05. EBITDA was $12.6M, though, compared to an expected $21.4M.
- Revenue breakout: Products, $118.6M (down 6.3%); Services, $49.3M (up 7%).
- The company reaffirmed full-year guidance for EPS of $0.17-$0.43 and revenues of $700M-$730M (in line).
- Conference call link
- Press Release
Mon, May 9, 7:32 AM
Sun, May 8, 5:30 PM
Mon, Mar. 14, 9:22 AM
- 3D Systems (NYSE:DDD) is up 15.3% premarket to $13.32 after (belatedly) posting a large Q4 beat. The numbers come 11 days after rival Stratasys delivered a Q4 beat and issued strong guidance, and are stoking hopes the 3D printing industry, hit hard last year as clients worked through excess capacity, is finally bottoming.
- 3D didn't provide any formal guidance in its earnings release. Interim CEO Andrew Johnson: "While market conditions remain challenging and uncertain, timing of healthcare and industrial customer orders as well as contributions from acquisitions supported revenue during the quarter ... We are continuing an extensive and comprehensive review of our business and strategy and taking steps to better prioritize our resources and focus our investments."
- Q4 details: Product revenue fell 10% Y/Y to $116M. Services revenue rose 16% to $67.4M. Gross margin was 47.7%, +80 bps Q/Q and -20 bps Y/Y. GAAP operating expenses rose a modest 4% Y/Y to $88.9M - $66.5M was spent on SG&A, and $22.4M on R&D.
A $537.2M impairment charge was recorded. 3D ended 2015 with $155.6M in cash and almost no debt.
- Stratasys (NASDAQ:SSYS) is up 6.5% premarket. ExOne (NASDAQ:XONE) is up 1.1%. Voxeljet (NYSE:VJET) is up 3.9%.
- 3D Systems' Q4 results, earnings release
Fri, Mar. 4, 11:34 AM
- Is the bottom finally in? Stratasys (SSYS +18.6%) is now up 39% since beating Q4 estimates and issuing strong 2016 sales/EPS guidance on Thursday morning. 3D Systems (DDD +9.2%) and ExOne are up 16%, and Voxeljet (VJET +7.4%) is up 18%. As with prior big moves higher for 3D printing firms, short-covering is likely playing a big role.
- Compared with the more bullish tone shown at higher levels, analyst reactions to Stratasys' numbers have been mixed. Piper's Troy Jensen (Overweight rating), who reported in January 3D printing demand was beginning to remove after months of weakness, likes Stratasys' cost-cutting efforts, and thinks interest and demand for the company's products is healthy. However, Deutsche's Sherri Scribner (Hold rating) argues an industry printer glut prevent a major 2016 demand rebound from occurring.
- Pac Crest's Weston Twigg also isn't yet sold on a near-term demand recovery. Materialise (MTLS +4%), which posted a Q4 beat on Wednesday, is his favorite 3D printing idea. "Materialise ... benefits from high growth in its software and printing services, even as demand for 3D printers has remained soft ... Over the long term, Materialise should be a central figure in the transition to 3D printed prosthetics, where it provides key surgical planning software, collaborative partnerships, and printed surgical guides and implants."
Thu, Mar. 3, 10:05 AM
- Stratasys' (SSYS +9.3%) Q4 beat has been accompanied by guidance for 2016 revenue $700M-$730M and EPS of $0.17-$0.43, largely above consensus estimates of $700.6M and $0.18. At the midpoint, the sales guidance implies 2% Y/Y growth.
- With industry demand weak, product revenue fell 26% Y/Y in Q4 to $124.3M. Services revenue rose 1% to $49.1M. Non-GAAP gross margin fell to 48.1% from 56% a year ago; 2016 GM guidance is at 54%-55%.
- Boosting EPS: Operating expenses fell 4% to $92.3M. Stratasys ended 2015 with $258M in cash and no debt. The company expects to spend $60M-$70M in 2016 on capex.
- Stratasys: "Our goal is to maintain our leadership position in prototyping, while developing a solutions-based business model that targets key vertical markets and emerging applications for end-use parts ... Given the current environment, we recognize the importance of optimizing our cost structure and improving our financial performance, and have made those goals a priority for 2016."
- 3D printing peers 3D Systems (DDD +5.4%), Voxeljet (VJET +5.3%), ExOne (XONE +4.9%), and Materialise (MTLS +5.1%) are also higher.
- Stratasys' Q4 results, earnings release
Thu, Mar. 3, 7:06 AM
Wed, Mar. 2, 5:30 PM
Thu, Feb. 4, 2:23 PM
- German 3D printer maker Voxeljet (VJET +8.9%) is up 10% since guiding on Tuesday afternoon for 2016 revenue of €28M-€30M ($31.4M-$33.6M), slightly below a €30.4M consensus but above 2015 guidance of €23M-€24M and perhaps better than feared in light of recent industry woes.
- Beaten-up peers have also been doing well, perhaps with the help of profit-taking from shorts. 3D Systems (DDD +8%) is up 23% over the last two days, Stratasys (SSYS +4.3%) is up 10%, and ExOne (XONE +12.1%) is up 20%.
- Voxeljet is now aiming for a 25%-30% Y/Y long-term revenue growth rate. Gross margin is expected to rise to 40%-42% in 2016 - GM for the first 9 months of 2015 was only 33.3% - and full-year EBITDA is expected to be "neutral-to-positive." 3D and Stratasys are expected to post Q4 results in the coming weeks.
Nov. 4, 2015, 9:28 AM
- "As we navigate challenging market conditions, we are taking decisive steps to reduce our cost structure and better prioritize our resources around near-term opportunities," says 3D Systems (NYSE:DDD) in its Q3 report. "We will respond to the current market environment by implementing adjustments to our costs and operating structure," says Stratasys (NASDAQ:SSYS) in its report. "The Company is reviewing its long term operating model, and will provide an update when visibility has improved."
- 3D, which posted a Q3 miss, hasn't provided guidance in its report. Stratasys, whose results are in-line with the forecast provided in its Oct. 22 warning, is guiding for Q4 revenue of $160M-$175M and EPS of -$0.17 to -$0.06, below a consensus of $189.2M and $0.15. Some Q4 analyst estimates might not have been adjusted following Stratasys' warning.
- 3D Systems' results: Product revenue -22% Y/Y to $87.7M, services +16% to $63.8M. Gross margin -100 bps Q/Q and -90 bps Y/Y to 46.9%. GAAP SG&A spend +55% to $83.2M, R&D +26% to $22.6M. $157.5M in cash at the end of Q3, and almost no debt.
- Stratasys' results: Product revenue -26% Y/Y to $118.5M, services +13% to $49.1M. Gross margin -390 bps Q/Q and -730 bps Y/Y to 50.8%. SG&A spend +3% to $70.1M, R&D +31% to $23.5M. Stratasys ended Q3 with $233M in cash, and no debt.
- Stratasys: "We believe the current environment is primarily a result of weak investment in capital equipment, which has combined with the negative impact of excess capacity that we believe was created during a period of extraordinary growth ... Additionally, although we believe that overall penetration in the prototyping market remains low, the segment has matured to an extent that our customers now have a wide selection of technology offerings to evaluate, resulting in lengthened sales cycles."
- 3D is at $10.00 premarket, and Stratasys at $25.89.
- 3D Systems: Q3 results, PR
- Stratasys: Q3 results, PR
- Update (10:34AM ET): Both companies have quickly reversed course. 3D is now up 18.3%, and Stratasys up 8.6%.
Nov. 4, 2015, 6:15 AM
- Stratasys (NASDAQ:SSYS): Q3 EPS of $0.01 misses by $0.01.
- Revenue of $167.58M (-17.7% Y/Y) misses by $4.62M.
- Shares -1.62% PM.
Nov. 3, 2015, 5:30 PM
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Oct. 22, 2015, 4:58 PM
- Stratasys (NASDAQ:SSYS) has warned again: The 3D printer maker now expects Q3 revenue of $166M-$168M and EPS of -$0.03 to $0.02, below a consensus of $184.6M and $0.08.
- A new $140M-$180M charge is expected for the MakerBot consumer/enthusiast 3D printer unit, and Stratasys is "in the process of performing a goodwill impairment analysis for its other reporting units."
- Stratasys blames weak capital spending by "customers in key verticals," and (echoing many third-party opinions) believes the 3D printing industry's huge 2013/2014 growth "may have created excess capacity in the market." Q3 results arrive on the morning of Nov. 4.
- Shares have plunged to $23.80 after hours. Rival 3D Systems (NYSE:DDD) has fallen to $11.40. ExOne (NASDAQ:XONE) is down 4.3% to $10.31; Voxeljet (NYSE:VJET) is down 3.1% to $5.95.
Aug. 6, 2015, 10:49 AM
- After opening moderately higher in the wake of its Q2 miss, 3D Systems (NYSE:DDD) has surged above $14. Equally-beaten-down peers Stratasys (SSYS +9.1%), ExOne (XONE +6.5%), and Voxeljet (VJET +6.5%) are also up strongly.
- 3D is still down 57% YTD, and over 85% from its early-2014 highs. With 36.4M shares (34% of the float) shorted as of July 15, profit-taking by shorts could be fueling today's gains.
- 3D's Q2 results, details
Jul. 30, 2015, 9:26 AM
- 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.
- 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 (NYSE:DDD) has fallen to $13.80 ahead of its Aug. 6 Q2 report.
- Q2 results, PR
Stratasys Ltd. is a 3D printing solutions company. It provides additive manufacturing solutions for the creation of parts used in the processes of designing and manufacturing products and for the direct manufacture of end parts. The company's systems include desktop 3D printers for idea and... More
Industry: Computer Peripherals
Country: United States
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