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3D打印机OEMStratasys（SSYS）宣布，尽管面对宏观经济的逆风，但在2022年第三季度的收入增长了2.0％。
Stratasys brought in $162.2 million during Q3 2022, a marginal improvement on the $159.0 million it generated in Q3 2021, but a 3.1% decline against Q2 2022. The firm credits its annual revenue growth to strong demand for its 3D printers, but admits that prolonged sales cycles and delays in acquiring consumables impacted its quarterly numbers.
“We delivered our highest third quarter revenue in seven years. This was driven by 18.9% growth in our systems, excluding divestitures and on a constant currency basis,” said Dr. Yoav Zeif, CEO of Stratasys. “We have now achieved five consecutive quarters of positive earnings, demonstrating our unique ability to generate profitable growth even while navigating a challenging global economic backdrop.”
Stratasys’ Q3 2022 financials
In Q3 2022, Products remained Stratasys’ largest revenue generator, bringing in $112.1 million, a 2.9% rise on the $108.9 million it turned over in Q3 2021. On the firm’s earnings call, Zeif said this growth was driven by demand for its systems, which jumped 18.9% over the same period, when adjusted for divestitures and exchange rate changes.
In particular, the Stratasys CEO highlighted the contribution of its SaaS, P3, and Neo offerings, which more than doubled its addressable market and “opened up new use cases and opportunities to replace traditional manufacturing.” Zeif added that the company’s core FDM portfolio also delivered solid growth during Q3 2022, and committed to “expanding and improving” its product lineup in this area.
By contrast, revenue generated by the consumables part of Stratasys’ Products division fell 1.4% year-on-year, bringing in $55.8 million. While this business grew 3.4% over the same period, if measured without the impact of divestitures and on a constant currency basis, it did suffer from a wider slowdown. Line-by-line, demand for Stratasys’ P3 materials are said to have been hit especially hard by this.
Stratasys’ other segment, Services, turned over revenue of $50.1 million, which was flat against Q3 2021 and 1.6% down against Q2 2022. Zeif later explained that in line with the company’s business model, its material and service sales are lagging behind those of its hardware. As Stratasys continues expanding its user base, he said this will also drive higher demand for other parts of its offering.
| Revenue ($) | Q2 2022 | Q3 2022 | Difference ($) | Difference (%) | Q3 2021 | Q3 2022 | Difference ($) | Difference (%) |
| 产品 | 1157m | 112.1m | -3.6m | -3.1 | 108.9m | 112.1m | +3.2m | +2.9 |
| Services | 50.9m | 50.1m | -0.8m | -1.6 | 50.1m | 50.1m | – | – |
| 全部的 | 166.6m | 162.2m | -4.2m | -2.6 | 159.0m | 162.2m | +3.2m | +2.0 |
Portfolio expansion continues in Q3
During Q3, Zeif said Stratasys “laid the foundations for further growth” via the launch of new products that will “drive its industry leadership for the long term.” This was particularly the case in the firm’s material business. In an update on Stratasys’ acquisition ofCovestro’s 3D printing polymersZeif部门解释了该第2023季度完成后如何“加速下一代材料开发”。
Over the quarter, Stratasys also validated 13 more FDM polymers, including those developed by the likes ofvictrex和Kimya. While some of these included new color variants, Zeif explained how with materials like theULTEM 9085thermoplastic, this has allowed for the production of more parts with customer-facing applications in the rail, aerospace and automotive industries.
For its来源一台3D打印机, Stratasys introduced two new validated industrial materials over Q3, includingP3拉伸475另一个来自Henkel’sLoctite范围。据说后者已经发现了最终用途门密封的3D打印中的应用。公司也是如此与evonik启动了P3偏转120, a temperature-resistant material with potential in the creation of manufacturing molds.
Elsewhere, the company’s investment activities haven’t slowed down either. Stratasys agreed to buy 3D printing software developerRivenin the opening weeks of Q4, and it poured $10 million into medtech startupAxial3D’s最近的资金回合。这样做之后，该公司现在正在与Axial3D合作进行联合产品，旨在降低进入许多主要市场中医院3D打印的障碍。
Guidance revised for FY 2022
由于目前的逆风，包括全球供应链成本，利率上升，货币风险和通货膨胀，Stratasys已将其2022财年的预测修改为6.48亿美元至6.52亿美元。这考虑了1700万美元的影响Stratasys的Makerbot剥离,该公司预计1300万美元的收入to miss out on, as clients delay purchases amid macroeconomic uncertainty.
However, during Q3, Stratasys spent $18.4 million on its operating activities, reflecting an investment in inventories to allow it to better deal with supply chain issues. As the firm’s install base continues to grow, Zeif says its wider consumable portfolio will also pay dividends, not only in broadening the application of its technologies, but boosting its profitability.
“We are excited about the significant expansion of our materials portfolio across multiple technologies, which we believe will drive higher-margin consumables sales in the coming years,” added Zeif. “In addition, as part of our growth strategy we will keep selectively adding and incubating complementary new technology-driven businesses that we expect will spur incremental growth in the future.”
“Stratasys is ideally positioned to provide the necessary solutions to catalyze our customers’ ongoing transformation from prototyping to additive manufacturing at scale.”
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Featured image shows an engineer using Stratasys’ DentaJet J5 3D printer. Photo via Stratasys.
