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Shares of Stratasys, Ltd. (NASDAQ: SSYS) fell in Tuesday’s after-hours session and traded at $48.98, down 4.52 percent.
The price action followed the release of weak preliminary Q1 results.
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The company anticipated non-GAAP EPS of $0.02 to $0.04 per diluted share and revenue in the range of $171 to $173 million.
The Estimize consensus was for EPS of $0.33 on revenue of $206.15 million.
The Wall Street consensus was for EPS of $0.32 on revenue of $202.26 million.
"We are disappointed with our first quarter results," said David Reis, Chief Executive Officer of Stratasys. "Our industry still remains in the early phases of adoption, and our belief in the long-term opportunity remains unchanged. Despite these first quarter challenges, we remain focused on our current strategies to drive sales growth and adoption, and are committed to our multi-year investment plan."
3D Systems Corporation (NYSE: DDD) also fell 4.43 percent amid the news to $25.00 in the after-hours session.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.