EDEN PRAIRIE, Minn. & REHOVOT, Israel - Stratasys Ltd. (NASDAQ:SSYS), in partnership with BASF Forward AM, today announced the commercial availability of a new 3D printing material, SAF™ Polypropylene (PP), designed for its H350™ printer, which is expected to launch in the fourth quarter of 2024. The material will be showcased at the RAPID + TCT Expo in Los Angeles from June 25 to 27.
SAF™ PP aims to improve part quality and cost efficiency for high-volume production in various industries, including automotive, medical, and consumer sports. The material boasts superior surface aesthetics, a lower cost per part, and enhanced productivity through its ability to produce hundreds of parts in a single build within 36 hours.
Neil Hopkinson, Vice President of Additive Manufacturing Technology at Stratasys, highlighted the material's superior nesting ability and turnaround time as key factors in boosting productivity and cost efficiency. The material is also engineered to be durable, chemically resistant, and flexible, making it suitable for a wide range of applications.
Customers have praised the surface finish and fine detail resolution of parts produced with SAF™ PP. Philipp Götz, CEO of Götz Maschinenbau GmbH & Co. KG, a beta customer, remarked on the material's exceptional visual appeal. Jennifer Govea, Application Engineer at Sun Digital, emphasized the material's consistent quality and its airtight and watertight properties.
Martin Back, CEO of BASF Forward AM, expressed enthusiasm about the collaboration with Stratasys, emphasizing the joint effort to broaden the adoption of additive manufacturing technologies.
Stratasys is a leader in the global shift to additive manufacturing, providing 3D printing solutions across various industries. The company's innovative solutions aim to offer competitive advantages throughout the product value chain.
This announcement is based on a press release statement from Stratasys Ltd. and does not necessarily reflect the views of The Wall Street Journal. The forward-looking statements within the press release are subject to risks and uncertainties that could cause actual results to differ materially from those projected.
In other recent news, Stratasys Ltd., a prominent figure in 3D printing and additive solutions, reported a slight decrease in first-quarter 2024 revenue, tallying at $144.1 million, down 3.5% year-over-year. Despite this, the company reaffirmed its full-year revenue guidance, expecting revenues to range between $630 million and $645 million.
On a brighter note, Stratasys recorded a high in consumables recurring revenue and an impressive gross margin expansion to 44.4%. The company also announced the launch of the F3300 printer and new SAF HighDef printing capabilities, alongside the appointment of Amir Kleiner to the role of COO.
Still, Stratasys reported a GAAP net loss of $26 million, with a non-GAAP net loss of $1.7 million. Analysts have noted the company's strategic review aiming to maximize value and capitalize on its strong portfolio, despite the challenges in the market. These are recent developments that investors should take into account.
InvestingPro Insights
As Stratasys Ltd. (NASDAQ:SSYS) gears up to launch its new 3D printing material, SAF™ Polypropylene, for its H350™ printer, the company's financial health and market performance remain pivotal for investors. With a keen focus on innovation and market expansion, Stratasys holds more cash than debt on its balance sheet, a reassuring sign of financial stability for stakeholders. Moreover, the company's net income is expected to grow this year, indicating potential for improved profitability amidst its product advancements.
InvestingPro Data metrics provide further insights into the company's financials. Stratasys has a market capitalization of $578.31 million USD, reflecting its standing in the industry. Still, the company's P/E ratio stands at -4.45, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at -5.24, suggesting that investors have concerns about its earnings potential. Moreover, Stratasys's price/book ratio for the same period is 0.67, which could indicate that the stock is undervalued relative to its assets.
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