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- Stratasys Ltd SSYS reported second-quarter FY21 revenue growth of 25% year-on-year to $147 million, beating the analyst consensus of $136.1 million.
- Product sales rose 35.8% Y/Y to $100.3 million. Services revenue increased 6.8% Y/Y to $46.7 million.
- The GAAP gross margin expanded 580 bps to 43%. Product gross margin expanded 452 bps to 50.4%. Services gross margin increased 472 bps to 27.2%.
- The non-GAAP gross margin expanded 210 bps to 47.5%.
- Non-GAAP loss per share of $(0.02) beat the analyst consensus loss of $(0.07).
- The company generated $5.6 million in operating cash flow.
- It held $522.7 million in cash and equivalents.
- Recovery in all regions and business lines drove the Q2 results.
- Outlook: Stratasys sees Q3 revenue grow 17%-18% or to $149.6 million - $150.9 million, versus analyst consensus of $141.3 million.
- It expects Q4 revenue to be sequentially higher than Q3.
- Longer-term, it expects significant leverage from its investments, hoping revenue growth will accelerate in 2022 and beyond.
- Price action: SSYS shares traded higher by 13.8% at $23.42 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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