Stratasys Q2 revenues grow by 25% “from all products, all regions”
Growth expected to accelerate in 2022 and beyond
The Stratasys Q2 2021, which closed on June 31st, totaled revenues for $147 million, marking 25% growth over the same period in 2020 (which had only been partially hit by COVID restrictions). “Our strong second-quarter results were highlighted by a 25% year over year revenue improvement with growth from all regions and all business lines,” commented Dr. Yoav Zeif, Stratasys’s Chief Executive Officer.
“Our focus on manufacturing gained further traction, we increased the monetization and ecosystem partnerships of our software business, and we expanded our medical and dental offerings, advancing our plans for further penetration in the healthcare industry.”
Dr. Zeif continued, “The transition of the 3D printing industry from prototyping to mass production is ongoing, and our commitment to being the first choice in polymer 3D printing positions us to be the main benefactor. We are investing across technology, software, materials, and talent to capture increased market share that we expect will yield significant returns and sustained profitability in the years to come.”
Based on current market conditions and assuming that the impact related to the pandemic does not impede the economic environment further, the Company is reiterating and updating its outlook, targeting third quarter 2021 revenue of approximately 17% – 18% growth year-over-year. Fourth-quarter revenue is expected to be sequentially higher than the third quarter.
Full-year operating expenses are expected to rise approximately $30 million compared to 2020, primarily due to the return of employees to a full-time schedule starting January 1, 2021, as well as operating costs as the markets gradually re-open.
Longer-term, the Company continues to expect significant leverage benefit from its investments as revenue growth should start to accelerate in 2022 and beyond, as recent investments and launches come to fruition. The Stratasys Q2 saw the launch of the J5 MediJet medical 3D printer furthering penetration into the healthcare market, while the company had previously completed its investments into the digital additive mass production (DAMP) with the acquisition/introduction of the Origin P3 and SAP high-throughput polymer 3D printing technologies.
Stratasys stock rose 10% on the news, far from the recent $55 high and very far from the all-time high of about $140.
