Stratasys Ltd Stock Price, News & Analysis

Stratasys (NASDAQ: SSYS) reported Q2 2024 financial results, showing a revenue decline to $138.0 million from $159.8 million in Q2 2023. The company saw a 6.3% year-over-year growth in recurring consumables revenue and improved GAAP gross margin by 230 basis points. Stratasys reported a GAAP net loss of $25.7 million, or $0.36 per diluted share, and a non-GAAP net loss of $3.0 million, or $0.04 per diluted share.

Following a strategic review, Stratasys announced restructuring actions expected to deliver ~$40 million in annualized savings and an 8% annualized EBITDA margin at current revenue levels. The company plans to reduce its workforce by approximately 15% by the end of the year. Stratasys updated its 2024 outlook, projecting revenue between $570 million to $580 million and non-GAAP operating margin of 0.5% to 1.0%.

CollPlant Biotechnologies (NASDAQ: CLGN) reported Q2 2024 financial results and provided a corporate update. Key highlights include:

• Initiated pre-clinical trial with 200cc rhCollagen-based regenerative breast implants printed with Stratasys' Origin® 3D printer
• Breast implants could address a $3.0 billion market opportunity
• Q2 revenues were $249,000, down from $10.2 million in Q2 2023 due to a one-time milestone payment in the prior year
• Q2 GAAP net loss was $4.2 million or $0.37 per share
• Cash and cash equivalents of $18.9 million as of June 30, 2024
• Cash runway expected to last until at least the end of 2025

The company is advancing its regenerative breast implant program and released its first ESG report. CollPlant aims to lead in regenerative medicine with its innovative collagen technology.

CollPlant Biotechnologies (Nasdaq: CLGN) and Stratasys (Nasdaq: SSYS) have initiated a pre-clinical study for 3D-printed regenerative breast implants. The study focuses on 200cc commercial-sized implants produced using CollPlant's rhCollagen-based bioinks on a Stratasys Origin® printer. The innovative implants aim to promote natural breast tissue growth and completely degrade over time, potentially revolutionizing both reconstructive and aesthetic procedures in the $3 billion breast implant market.

The collaboration leverages Stratasys' 3D printing expertise and CollPlant's regenerative medicine technology. Initial results are expected in the first half of 2025. Previous pre-clinical studies have shown promising results, including neovascularization and tissue regeneration without adverse reactions.

CollPlant Biotechnologies (CLGN) and Stratasys (SSYS) have initiated a pre-clinical study for 3D-printed regenerative breast implants. The 200cc commercial-sized implants, made using CollPlant's rhCollagen-based bioinks and printed on a Stratasys Origin® printer, aim to promote natural breast tissue growth and completely degrade over time. This innovation targets the $3 billion breast implant market, offering a potential alternative to traditional silicone implants and autologous fat transfer procedures.

The collaboration focuses on developing a bioprinting solution and scaling up the fabrication process. Initial results from the study are expected in the first half of 2025. Previous pre-clinical studies have shown promising results, including neovascularization and tissue regeneration without adverse reactions.

Stratasys (Nasdaq: SSYS) has announced its upcoming conference call to discuss second quarter 2024 financial results. The call is scheduled for Thursday, August 29, 2024, at 8:30 a.m. (ET). Investors can participate via live webcast or by dialing in. The U.S. toll-free number is 877-407-0619, and the international dial-in is +1-412-902-1012. The webcast will be available for 6 months after the call.

Stratasys is a leader in additive manufacturing, providing innovative 3D printing solutions for various industries including aerospace, automotive, consumer products, and healthcare. The company offers smart and connected 3D printers, polymer materials, software ecosystems, and on-demand parts services.

Stratasys (NASDAQ: SSYS) has announced plans to relocate its U.S. headquarters from Eden Prairie to a new campus in Minnetonka, Minnesota. The move, scheduled for January 6, 2025, aims to consolidate most Minnesota-based offices into a larger, more dynamic corporate campus. The new location will feature advanced technology, enhanced amenities, and thoughtfully designed work areas to foster innovation and creativity.

CEO Dr. Yoav Zeif emphasized that this move underscores Stratasys' commitment to providing employees with the necessary support and resources to promote continued innovation, teamwork, and well-being. The easily accessible campus, less than 10 minutes from the current headquarters, is expected to facilitate closer collaboration between research and development and manufacturing teams.

Stratasys has introduced the DentaJet™ XL, a cutting-edge 3D printer aimed at high-volume dental labs. The DentaJet XL is designed to significantly enhance productivity and reduce costs through features like larger resin cartridges, a big print tray, and a Super High-Speed mode.

It aims to cut labor costs by up to 90% and reduce the cost per part by up to 67%. The printer also allows for dual-material printing and integrates advanced software for efficient print prep and management.

Initial feedback from early adopters highlighted notable improvements, including up to 50% increased production of clear aligners and substantial material and labor savings.

Stratasys (NASDAQ: SSYS) was recognized at the Additive Manufacturer Green Trade Association (AMGTA) 2024 Annual Summit in Los Angeles on June 24th, winning four Sustainability Recognition Awards. These accolades were awarded for Stratasys' excellence in Environmental Management Systems, Sustainability Reporting, Environmental Sustainability Research, and overall Excellence in Additive Manufacturing (AM) Sustainability. The awards reflect Stratasys' commitment to environmental sustainability and innovation in additive manufacturing. Sherri Monroe, Executive Director of AMGTA, praised Stratasys for advancing sustainability in the industry. Rosa Coblens, VP of Sustainability & Communications at Stratasys, highlighted the company's Mindful Manufacturing™ approach, emphasizing leadership in evidence-based ESG practices.

Stratasys and Ricoh USA have enrolled the first patient in a clinical study assessing 3D printed models for orthopedic tumor removal. The study aims to evaluate the efficacy of 3D printed anatomical models in preoperative planning compared to traditional CT or MRI scans. This research will examine potential improvements in surgical outcomes, such as reduced blood loss, shorter operating times, and fewer complications. The 12-month, multi-center randomized study will involve up to 150 subjects across three sites, including The Ohio State University Wexner Medical Center and Corewell Health. Successful results could establish 3D printed models as a new standard in tumor removal procedures.