Stratasys (SSYS) Tops Q4 EPS by 13c, Revenues Beat

Stratasys (NASDAQ: SSYS) reported Q4 EPS of $0.13, $0.13 better than the analyst estimate of $0.00. Revenue for the quarter came in at $142.4 million versus the consensus estimate of $135.34 million.

Fourth Quarter 2020 Financial Results Summary Compared to Fourth Quarter 2019:

• Revenue was $142.4 million, compared to $160.2 million.
• GAAP gross margin was 46.4%, compared to 49.1%.
• Non-GAAP gross margin was 49.5%, compared to 52.4%.
• GAAP operating loss was $2.5 million, compared to an operating loss of $3.3 million.
• Non-GAAP operating income was $8.3 million, compared to $10.2 million.
• GAAP net income was $11.0 million, or $0.20 per diluted share, compared to a net loss of $2.8 million, or $(0.05) per diluted share.
• Non-GAAP net income was $7.0 million, or $0.13 per diluted share, compared to $10.0 million, or $0.18 per diluted share.
• Adjusted EBITDA was $14.6 million, compared to $16.6 million.
• Generated $23.7 million of cash from operations.

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.”

For earnings history and earnings-related data on Stratasys (SSYS) click here.

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