Stratasys Rallies On Q4 Beat, CEO Highlights Sixth Consecutive Profitable Quarter

Stratasys Ltd SSYS reported a fourth-quarter FY22 revenue decline of 4.6% year-over-year to $159.26 million, beating the consensus estimate of $157.58 million.
Product sales declined 5.8% Y/Y to $111.2 million. Services revenue decreased by 1.9% Y/Y to $48.1 million.
The adjusted gross margin declined by 30 bps to 48.4%.
Adjusted EPS of 7 cents beat the consensus estimate of 3 cents.
Adjusted operating income was $5.1 million, up from $1.7 million a year ago.
Adjusted EBITDA was $10.7 million, compared to $7.9 million a year back.
The company used negative $18.1 million in cash in operating activities and held $327.8 million in cash and equivalents.
Dr. Yoav Zeif, Stratasys' Chief Executive Officer stated, "Stratasys grew 11.4% in 2022, adjusting for divestitures and currency impacts, while delivering our sixth consecutive quarter of profitability on an adjusted basis against an increasingly challenging macroeconomic environment. Strong execution by our team and a relentless focus on controlling costs contributed to our effective efforts to overcome these challenges."
Dr. Zeif continued, "We are encouraged by the strong future demand indicators from our customers for our additive manufacturing polymer systems and consumables."
FY23 Outlook: Stratasys expects revenue of $620 million-670 million.
Stratasys expects adjusted EPS of 12 cents to 24 cents.
Price Action: SSYS shares traded higher by 5.61% at $13.93 premarket on the last check Thursday.

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