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- Stratasys Ltd SSYS reported third-quarter FY21 revenue growth of 24.3% year-on-year to $159 million, beating the consensus of $150.1 million.
- Product sales rose 30.3% Y/Y to $108.9 million. Services revenue increased 13% Y/Y to $50.1 million.
- The non-GAAP gross margin expanded 140 bps to 48.2%.
- Non-GAAP EPS of $0.01 beat the consensus loss of $(0.06).
- The company generated $3 million in operating cash flow. It held $519.9 million in cash and equivalents.
- "Our third quarter was highlighted by revenue growth of 24.3% and systems sales growth of 34.7% year-over-year, with contributions across all regions and all business lines," said CEO Yoav Zeif.
- Outlook: Stratasys sees Q4 revenue 16% higher year-over-year, representing $165.2 million, above the consensus of $157.7 million. The company had earlier estimated Q4 revenue to be sequentially higher than Q3.
- Price Action: SSYS shares traded higher by 18% at $37.85 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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