March 11, 2020, worldwide3D printingThe giant Stratasys (NASDAQ: SSYS) released its financial statements for the fourth quarter and full year as of December 31, 2019.
The financial report shows that Stratasys’ 2019 revenue was 636.1 million U.S. dollars, and the net loss was 11.1 million U.S. dollars. In 2018, revenue was 663.2 million U.S. dollars and net loss was 11.2 million U.S. dollars.
Stratasys’ revenue in the fourth quarter of 2019 was US$160.2 million, compared with US$177.1 million in the same period in 2018. In addition, US$3.4 million of operating cash was used in the fourth quarter, while US$18.7 million was used in the fourth quarter of 2018.
Stratasys Chief Financial Officer Lilach Payorski believes that the decline in revenue in 2019, especially the decline in revenue in the company’s product division, is mainly due to the negative impact of continued macroeconomic weakness in Europe and Asia. “However, we believe that over time, our new products and the systems installed in the past few years will bring about strong growth in demand for materials.”
Stratasys products and services
Stratasys’ revenue comes from two divisions: products and services.Every year, by3D printingThe product sector composed of machines and materials accounted for the largest proportion of total revenue. In the fourth quarter of 2019, Stratasys products generated $109 million in revenue, compared with $124.5 million in the fourth quarter of 2018, a decrease of 12.5%. For the full year of 2019, the revenue generated by the product division was US$430.7 million, a decrease of 5.6% compared with the US$456.5 million in 2018.
In product revenue, consumables revenue in the fourth quarter of 2019 decreased by 2.9% compared with the same period last year. 2019 Q43D printingThe revenue generated by the machine fell by 20.6% compared with the same period last year.3D printingMachine revenue fell by 10.8%.
Stratasys’ service department is related to the company’s on-demand manufacturing and consulting services. For the full year of 2019, the service sector reported revenue of 205.3 million U.S. dollars, compared with 206.7 million U.S. dollars in 2018. In the fourth quarter of 2019, services generated US$51.2 million in revenue, which was a 2.6% decrease from the US$52.6 million in the fourth quarter of 2018.
In the fiscal year ending December 31, 2020, Stratasys is expected to provide revenue of US$620 million to US$680 million. Due to ongoing global industrial macroeconomic issues and uncertainty regarding the potential impact of the coronavirus, long-term guidance has been issued.
Yoav Zeif, CEO of Stratasys, said of the company’s next development: “Starting from the second half of this year, we hope to introduce our next phase of growth. As we begin to gradually change our investment portfolio, we will introduce manufacturing and Design a series of new products for prototype solutions. I am very optimistic about the company’s business prospects, and I believe that we have great potential to bring short-term and long-term value to all stakeholders.”
Stratasys’ actions last year and future plans
Stratasys released many new products throughout 2019, including two at the AMUG conference last year3D printingMachine: F120 system, this is the latest product of F123 series 3D.
In addition, Stratasys also announced the launch of V650 3D printingMachine, thus entering the field of SLA technology.At the end of 2019, Stratasys released two more3D printingmachine. Including J750 specifically for the medical industry 3D printingThe machine version is for use by healthcare professionals. In the same month, Stratasys also released an upgraded product of J750-J850 PolyJet 3D printingMachine, it is an upgrade of the previous system, with full color3D printingFeatures.
When asked about the weakness in the fourth quarter of 2019 during the conference call, Payorski explained: ”
[Stratasys]It has experienced severe weakness in Europe and Asia. Especially in the main vertical areas we operate (probably the automotive and parts business), there are greater differences between several indicators. For example, European industry as a whole is facing the dilemma of a twelve consecutive months of contraction in manufacturing. “
Vice President of Investor Relations Yonah Lloyd (Yonah Lloyd) added: “We have the conditions to resume growth when the macro conditions improve, and the company is expected to resume growth.”
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