Why Stratasys Are Trading Higher After Hours Today

  • Stratasys Ltd SSYS reported first-quarter FY22 revenue growth of 21.8% year-over-year to $163.43 million, beating the consensus of $157.56 million.
  • Product sales rose 25.2% Y/Y to $113.07 million. Services revenue increased 14.8% Y/Y to $50.36 million.
  • The gross margin expanded 120 bps to 42.6%. The adjusted gross margin was 47.3%, up 65 bps.
  • Adjusted EPS of $0.02 beat the consensus of $(0.04).
  • Adjusted operating income was $2.02 million, compared to a loss of $2.57 million in 1Q21.
  • Adjusted EBITDA was $8.1 million, compared to $3.5 million in 1Q21.
  • The company used $(16.1) million in cash in operating activities in Q1 and held $475.6 million in cash and equivalents.
  • “Our strong start to the year, with our highest first-quarter revenue total in six years, was anchored by 22% revenue growth that included improved contributions from all our technologies. Importantly, systems was the main driver, up 36.7% for its strongest first quarter in five years, and 16.4% higher than the same period in pre-COVID 2019,” commented Dr. Yoav Zeif, Stratasys’ Chief Executive Officer.
  • FY22 Outlook: Stratasys sees revenue of $685 million - $695 million, vs. the consensus of $686.95 million. It expects non-GAAP operating margins slightly above 2%.
  • Stratasys sees non-GAAP EPS of $0.14 - $0.19 vs. the consensus of $0.16. It expects an Adjusted EBITDA of $38 million to $41 million.
  • Price Action: SSYS shares traded higher by 4.56% at $17.90 in the post-market session on Monday.
  • Photo via Wikimedia Commons
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