MINNEAPOLIS, MN & REHOVOT, Israel, Mar 2, 2021 – Stratasys Ltd. announced financial results for the fourth quarter and full year 2020. Revenue for the fourth quarter of 2020 was $142.4M, compared to $127.9M for the third quarter of 2020. GAAP net income was $11M.
Comparative analysis based on Stratasys’s financial results in the last 12 quarters (Result source Stratasys website)
Comparative analysis based on Stratasys’s financial results in the last 12 quarters (Result source Stratasys website)
Dr. Yoav Zeif, chief executive officer of Stratasys, commenting on the results, stated, “Our results reflect the resilience and diversification of our business model. We delivered sequential revenue growth in the back half of the year and this quarter produced the highest operating cash flow in almost three years. We believe both our industry and company are starting to enter a meaningful, sustained trajectory of unprecedented growth and are excited to capitalize on the opportunities ahead.”
Dr. Zeif continued, “In 2020, we implemented a new strategy to be the first choice for polymer 3D printing, with a specific focus on expanding into fast-growing manufacturing applications. We rightsized the company and enhanced our operating model to be application-centric, allowing our team to better leverage synergies. Stratasys is well-positioned to grow, armed with a strong balance sheet with no debt. This year we will add three new technology platforms and will continue to prudently execute on our capital allocation strategy to meaningfully accelerate revenue, earnings and cash flow as our investments begin to contribute in the years ahead and, in turn, drive value for our shareholders.”
A complete chart of the financial results is available here.
About Stratasys
Stratasys is a global leader in additive manufacturing or 3D printing technology, and is the manufacturer of FDM and PolyJet 3D Printers. The company’s technologies are used to create prototypes, manufacturing tools, and production parts for industries, including aerospace, automotive, healthcare, consumer products and education. For 30 years, Stratasys products have helped manufacturers reduce product-development time, cost, and time-to-market, as well as reduce or eliminate tooling costs and improve product quality. The Stratasys 3D printing ecosystem of solutions and expertise includes: 3D printers, materials, software, expert services, and on-demand parts production.
Visit online at: www.stratasys.com, http://blog.stratasys.com.