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Stratasys Shares Are Trading Higher On Mixed Q1 Earnings

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Stratasys Shares Are Trading Higher On Mixed Q1 Earnings
  • Stratasys Ltd (NASDAQ: SSYSreported a first-quarter FY21 net sales growth of 1% year on year to $134.2 million, beating analyst consensus of $132.28 million. 
  • Product net sales rose 8.6% to $90.3 million, and Services net sales declined 11.8% to $43.9 million. System revenue rose 41%.
  • Non-GAAP gross margin contracted 170 basis points to 46.7%.
  • Non-GAAP operating loss declined 69% to $2.6 million.
  • Non-GAAP net loss declined 64.2% to $3.8 million, with an adjusted EPS loss of $0.06, at par with analyst consensus.
  • Adjusted EBITDA was $3.5 million.
  • Stratasys held $530.4 million in cash and equivalents and generated $22.8 million in operating cash flow.
  • Guidance: It sees Q2 net sales growth at mid-teens percentage.
  • The company continues to make progress on its strategy to grow its manufacturing applications, which will solidify its position as the first choice in polymer 3D printing, CEO, Dr. Yoav Zeif said.
  • Price action: SSYS shares are trading higher by 2.73% at $21.45 in the premarket session on the last check Wednesday.
 

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Posted-In: BriefsEarnings News Guidance Small Cap Tech Media

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