Stratasys Ltd. (SSYS) stock soared 18.90% in the current-market trading session at the price of $38.16 after announcing its earnings report for the third quarter ended on 30th September 2021. SSYS is the leading producer of innovative 3D printing solutions for healthcare, consumer products, aerospace, and automotive industries.
SSYS Third Quarter 2021 Financial Results
On 4th November 2021, SSYS announced its financial results for the third quarter ended on 30th September 2021 and provided corporate updates.
Management Comments
Chief Executive Officer of SSYS, Dr. Yoav Zeif, remarked that they are standing at an inflection position for additive production. Their third-quarter delivered year-over-year revenue growth of 24.3% and sales growth of 34.7%. The company has accomplished multiple manufacturing-focused milestones during the period. It has also secured contracts with the US Navy and an international OEM. Their aim to be known as the first preference for 3D printing polymer solutions continues to improve. They are leveraging their exceptional reputation for perfection in both service and technology to help clients achieve better-scaled production, Dr. Zeif continued.
SSYS Financial Highlights
SSYS reported total revenue of $159.0 million for the third quarter ended on 30th September 2021. Total revenue was $127.9 million for the third quarter of 2020. GAAP gross margin was 42.9% for the third quarter of 2021, compared to 38.9% for the third quarter of 2020. The company calculated an operating loss of $21.9 million for the third quarter ending on 30th September 2021. The operating loss was $404.3 million for the three months ended on 30th September 2020.
SSYS reported a net loss of $18.1 million, or $0.28 per share (diluted), for the third quarter ended on 30th September 2021. For the third quarter of 2020, a net loss was $405.1 million, or $7.35 per share (diluted). Adjusted EBITDA totaled $7.8 million for the third quarter of 2021, compared to $5.2 million for the third quarter of the prior year. As of 30th September 2021, cash produced from operations was approximately $3.0 million. Cash from operations was $2.6 million by 30th September 2020.
