Stratasys (SSYS) Misses Q4 EPS by 2c, Revenues Miss; Offers FY20 EPS Guidance Below Consensus, Provides FY20 Revenue Outlook

Stratasys (NASDAQ: SSYS) reported Q4 EPS of $0.18, $0.02 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $160.2 million versus the consensus estimate of $170.05 million.

Q4 2019 Financial Results Summary:
Revenue for the fourth quarter of 2019 was $160.2 million, compared to $177.1 million for the same period last year.

• GAAP gross margin was 49.1% for the quarter, flat compared to the same period last year.
• Non-GAAP gross margin was 52.4% for the quarter, compared to 52.2% for the same period last year.
• GAAP operating loss for the quarter was $3.3 million, compared to an operating loss of $3.8 million for the same period last year.
• Non-GAAP operating income for the quarter was $10.2 million, compared to non-GAAP operating income of $12.8 million for the same period last year.
• Non-GAAP EBITDA was $15.8 million for the quarter, compared to $20.1 million for the same period last year.
• GAAP net loss for the quarter was $2.8 million, or ($0.05) per diluted share, compared to a net income of $6.3 million, or $0.12 per diluted share, for the same period last year.
• Non-GAAP net income for the quarter was $10.0 million, or $0.18 per diluted share, compared to net income of $11.3 million, or $0.21 per diluted share, for the same period last year.
• The Company used $3.4 million of cash from operations during the fourth quarter and ended the period with $321.8 million in cash, cash equivalents and short-term deposits.

“Since joining Stratasys I have taken the opportunity to begin an in-depth review of the business and am already impressed by the deep level of knowledge, professionalism, and dedication exhibited at all levels of the organization. I strongly believe in the solid foundation for growth that has been created at Stratasys, including an innovative and expanding product portfolio, disciplined financial management, and the industry’s leading distribution partners,” said Yoav Zeif, Chief Executive Officer of Stratasys. “Starting in the back half of this year we expect to introduce our next phase of growth with a notable step-change in our portfolio as we begin to launch a series of new products for both manufacturing and design prototyping solutions. I am extremely optimistic regarding the outlook of the business, and I believe that there is tremendous potential to drive significant near-term and long-term value for all of our stakeholders.”

GUIDANCE:

Stratasys sees FY2020 EPS of $0.45-$0.60, versus the consensus of $0.63. Stratasys sees FY2020 revenue of $620-680 million, versus the consensus of $662.48 million.

Stratasys today issued the following information regarding the Company’s guidance for the fiscal year ending December 31, 2020:

• Revenue guidance of $620 million to $680 million.
• GAAP net loss of $30 million to $18 million, or ($0.54) to ($0.33) per diluted share.
• Non-GAAP net income of $25 million to $34 million, or $0.45 to $0.60 per diluted share.
• Non-GAAP operating margins of 5% to 6.5%.
• Capital expenditures are projected at $40 million to $60 million.

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

You May Also Be Interested In

• Safe & Green (SGBX) Provides Update on Audit and Planned 10-K Filing
• Progress Software Corporation (PRGS) Issues Statement on a Possible Offer for MariaDB
• Acme United (ACU) Misses Q1 EPS by 20c