Stratasys Slashes FY22 Revenue Outlook; Beats Q2 Top-Line Marginally

Stratasys Ltd SSYS reported second-quarter FY22 revenue growth of 13.3% year-over-year to $166.6 million, beating the consensus of $166.3 million.
Product sales rose 15.4% Y/Y to $115.7 million. Services revenue increased 9% Y/Y to $50.9 million.
The adjusted gross margin was consistent at 47.6%.
Adjusted EPS of $0.02 beat the consensus loss of $(0.01).
Adjusted operating income was $1.9 million, compared to a loss of $(2.6) million a year ago.
Adjusted EBITDA was $7.4 million, compared to $3.5 million a year back.
The company used $(22.8) million in cash in operating activities and held $441.5 million in cash and equivalents.
FY22 Outlook: Stratasys cut revenue outlook from $685 million - $695 million to $675 million - $685 million, vs. the consensus of $689.6 million.
Stratasys reiterated non-GAAP EPS of $0.14 - $0.19 vs. the consensus of $0.16.
Price Action: SSYS shares traded lower by 0.71% at $20.85 in the pre-market session on the last check Wednesday.

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