Stratasys Ltd. (SSYS) logs Q2 2026 loss but backs full-year guidance and Markforged deal
Rhea-AI Filing Summary
Stratasys Ltd. reported second-quarter 2026 revenue of $137.6 million, essentially flat year over year but up 3.7% sequentially from $132.7 million, with record consumables revenue of $66.3 million. Aerospace and defense revenue grew 17% year over year, reinforcing this as the company’s largest vertical. GAAP results showed a net loss of $16.9 million (–$0.19 per diluted share), while non-GAAP net income was $2.3 million ($0.03 per diluted share) and Adjusted EBITDA was $5.3 million.
Operating cash outflow was $18.7 million, driven mainly by atypical non-routine items, but cash, equivalents and short-term deposits totaled $212.5 million with no debt as of June 30, 2026. Management reaffirmed full-year 2026 guidance, including revenue of $565–$575 million, non-GAAP operating margin of 0.7–1.5% and Adjusted EBITDA of $25–$30 million, and now expects positive operating cash flow only for the second half of 2026. Stratasys also highlighted a pending $42 million all-cash acquisition of Markforged, expected to close by year-end 2026 and contribute positive EBITDA within the first year, expanding its industrial continuous carbon-fiber offering.
Positive
- Aerospace and defense revenue grew 17% year over year in Q2 2026, strengthening performance in Stratasys’ largest and highest-value vertical.
- Record consumables revenue of $66.3 million and overall Q2 revenue up 3.7% sequentially indicate growing usage of installed systems.
- Reaffirmed full-year 2026 guidance, including revenue of $565–$575 million and Adjusted EBITDA of $25–$30 million, despite macro and FX headwinds.
- Pending $42 million all-cash Markforged acquisition is expected to be gross-margin accretive and deliver positive EBITDA within the first year after closing.
- Strong balance sheet with $212.5 million in cash, equivalents and short-term deposits and no debt provides flexibility to fund strategy and acquisitions.
Negative
- GAAP net loss of $16.9 million in Q2 2026 and guided full-year GAAP net loss of $83–$67 million indicate continued unprofitability on a GAAP basis.
- Operating cash outflow of $18.7 million in Q2 2026, versus $1.1 million a year earlier, led management to withdraw its prior goal of positive full-year operating cash flow.
- Adjusted EBITDA declined to $5.3 million from $6.1 million in the prior-year quarter, reflecting margin pressure and higher operating costs.
- Products revenue fell 2.2% year over year in Q2 2026, including a 13.7% decline in systems revenue, signaling softer hardware demand even as consumables grew.
Filing Explained
Although this Form 6-K furnishes the quarterly results and presentation, the report and exhibits are not deemed “filed” for Section 18 purposes or incorporated into Securities Act filings unless a filing specifically references them.
Key Figures
Q2 2026 Revenue: $137.6 million
Q2 2026 GAAP Net Loss: $16.9 million
Q2 2026 Non-GAAP Net Income: $2.3 million
+5 more
8 metrics
Q2 2026 Revenue
$137.6 million
Quarter ended June 30, 2026; compared to $138.1 million in Q2 2025
Q2 2026 GAAP Net Loss
$16.9 million
Quarter ended June 30, 2026; (–$0.19) per diluted share
Q2 2026 Non-GAAP Net Income
$2.3 million
Quarter ended June 30, 2026; $0.03 per diluted share
Q2 2026 Adjusted EBITDA
$5.3 million
Quarter ended June 30, 2026; compared to $6.1 million in Q2 2025
Cash, Equivalents and Short-Term Deposits
$212.5 million
Balance as of June 30, 2026; company reported no debt
Operating Cash Flow Q2 2026
$18.7 million used
Cash used in operations for quarter ended June 30, 2026; versus $1.1 million used in Q2 2025
2026 Revenue Guidance
$565–$575 million
Full-year 2026 outlook, expected to improve sequentially through the year
Aerospace & Defense Revenue Growth
17%
Year-over-year growth in Q2 2026 in Stratasys’ largest vertical
Key Terms
Adjusted EBITDA, non-GAAP gross margins, contingent consideration, forward-looking statements, +2 more
6 terms
Adjusted EBITDA financial
"Adjusted EBITDA of $5.3 million, compared to $6.1 million in the prior year period"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
non-GAAP gross margins financial
"Full year non-GAAP gross margins of 46.7% to 47.1%, including approximately $7 million"
Non-GAAP gross margin is a company-reported percentage that measures sales left after subtracting the direct costs of making goods or delivering services, but adjusted by removing certain items that management considers non-recurring or non-cash (for example, stock-based compensation, acquisition-related costs, or inventory write-downs). Investors use it to see an alternative view of core product or service profitability—like looking at a car’s fuel efficiency after ignoring occasional detours—but different firms may adjust it differently.
contingent consideration financial
"Contingent consideration - long-term $5,360"
Contingent consideration is an additional payment agreed when one company buys another that will be paid later only if specific future targets are met, such as revenue, profit, or regulatory milestones. It matters to investors because it shifts risk between buyer and seller and affects the acquiring company's future cash flow and reported value — like promising a bonus after results are proven.
forward-looking statements regulatory
"The statements in this press release regarding Stratasys' strategy... are forward-looking statements"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
reorganization and other financial
"Reorganization and other $31 to $37"
additive manufacturing technical
"Stratasys is leading the global shift to additive manufacturing with innovative 3D printing solutions"
Additive manufacturing, often called 3D printing, builds physical parts by laying down material layer by layer from a digital design, rather than cutting or molding from a solid block. It matters to investors because it can cut production time and waste, enable cheaper prototypes and customized products, and reshape supply chains—changes that can lower costs, speed new products to market, and create competitive advantages that affect a company's revenue and margins.
Earnings Snapshot
Revenue: $137.6 million · Guidance included
Quarter ended June 30, 2026
Revenue
$137.6 million
vs $138.1 million in Q2 2025; up 3.7% sequentially from $132.7 million
GAAP Net Loss
$16.9 million
vs $16.7 million loss in Q2 2025
Non-GAAP Net Income
$2.3 million
vs $2.2 million in Q2 2025
Adjusted EBITDA
$5.3 million
vs $6.1 million in Q2 2025
Operating Cash Flow
$18.7 million used
vs $1.1 million used in Q2 2025
Guidance
For 2026, Stratasys guides revenue of $565–$575 million, non-GAAP operating margin of 0.7–1.5%, GAAP net loss of $83–$67 million, non-GAAP net income of $8–$12.5 million, Adjusted EBITDA of $25–$30 million, and positive operating cash flow in the second half only.
FAQ
How did Stratasys (SSYS) perform financially in Q2 2026?
Stratasys reported Q2 2026 revenue of $137.6 million, nearly flat year over year, with a GAAP net loss of $16.9 million and non-GAAP net income of $2.3 million. Adjusted EBITDA was $5.3 million, down from $6.1 million in Q2 2025.
What guidance did Stratasys (SSYS) provide for full-year 2026?
Stratasys reaffirmed 2026 guidance for revenue of $565–$575 million, non-GAAP operating margin of 0.7–1.5%, and Adjusted EBITDA of $25–$30 million. It expects GAAP net loss of $83–$67 million and non-GAAP net income of $8–$12.5 million.
What is Stratasys’ outlook for operating cash flow in 2026?
Stratasys now expects positive operating cash flow only in the second half of 2026. Due to $18.7 million operating cash usage in the first half, it no longer anticipates positive operating cash flow for the full year 2026.
How strong is Stratasys’ (SSYS) balance sheet after Q2 2026?
As of June 30, 2026, Stratasys held $212.5 million in cash, cash equivalents and short-term deposits and reported no debt. Total assets were $1.05 billion, with shareholders’ equity of $818.6 million, providing meaningful financial flexibility.
What are the key details of Stratasys’ planned Markforged acquisition?
Stratasys plans a $42 million all-cash acquisition of Markforged, which generated about $70 million revenue in 2025. The deal is expected to close by end-2026, be gross-margin accretive, and deliver a positive EBITDA contribution within the first year.
Which segments drove growth for Stratasys (SSYS) in Q2 2026?
Growth was led by record consumables revenue of $66.3 million and 17% year-over-year growth in aerospace and defense revenue. Services revenue grew 3.7% year over year, while systems revenue within products declined 13.7%.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
For the month of August 2026
Commission File Number 001-35751
STRATASYS LTD.
(Translation of registrant’s name into English)
| c/o Stratasys, Inc. 5995 Opus Parkway Minnetonka, Minnesota 55343 | 1 Holtzman Street, Science Park P.O. Box 2496 Rehovot, Israel 76124 | |||||||
| (Addresses of principal executive offices) | ||||||||
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F ☐
CONTENTS
Quarterly Results of Operations
On August 13, 2026, Stratasys Ltd. (“Stratasys”, “we” or “us”) announced its financial results for the second quarter ended June 30, 2026. A copy of our press release announcing our results is furnished as Exhibit 99.1 to this Report of Foreign Private Issuer on Form 6-K (this “Form 6-K”) and is incorporated herein by reference.
In conjunction with the conference call being held on August 13, 2026 to discuss our results, we are furnishing a copy of the slide presentation that provides supplemental information regarding our business and our financial results, and which will be referenced on that conference call. We have attached that presentation as Exhibit 99.2 to this Form 6-K, which exhibit is incorporated herein by reference.
The information in this Form 6-K, including Exhibits 99.1 and 99.2, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
Exhibits
The following exhibits are furnished as part of this Form 6-K:
| Exhibit | Description | |||||||
| 99.1 | Press release dated August 13, 2026 announcing the financial results of Stratasys Ltd. for the second quarter ended June 30, 2026 | |||||||
| 99.2 | Slide presentation providing supplemental information to be referenced on the conference call of Stratasys Ltd. discussing its quarterly financial results, being held on August 13, 2026 | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| STRATASYS LTD. | ||||||||
Dated: August 13, 2026 | By: | /s/ Eitan Zamir | ||||||
| Name: | Eitan Zamir | |||||||
| Title: | Chief Financial Officer | |||||||
Exhibit 99.1
Stratasys Releases Second Quarter 2026 Financial Results
•Revenue of $137.6 million, compared to $138.1 million in the prior year period; up 3.7% sequentially from $132.7 million in the first quarter 2026
•Record consumables quarterly revenue of $66.3 million
•Revenue grew 17% in the largest vertical, Aerospace and Defense, compared to the prior year
•GAAP net loss of $16.9 million, or ($0.19) per diluted share, and non-GAAP net income of $2.3 million, or $0.03 per diluted share
•Adjusted EBITDA of $5.3 million, compared to $6.1 million in the prior year period. Adjusted EBITDA would have been $8.2 million excluding the net impact of $2.9 million related to the strong shekel currency
•Cash used in operations of $18.7 million primarily due to atypical non-routine items; Expects operating cash flow to be positive second half 2026
•$212.5 million in cash, equivalents and short-term deposits and no debt at June 30, 2026
•Reaffirms full-year 2026 outlook other than full-year operating cash flow
MINNETONKA, Minn. & REHOVOT, Israel - (BUSINESS WIRE) – August 13, 2026 - Stratasys Ltd. (Nasdaq: SSYS), (“Stratasys” or the “Company”), a leader in polymer 3D printing solutions, today announced its financial results for the second quarter ended June 30, 2026.
“Consumables reached a record level this quarter, driven by manufacturing materials, underscoring the continued strength of our strategy to grow the manufacturing portion of our business,” said Dr. Yoav Zeif, CEO of Stratasys. “Aerospace and defense (A&D) revenue grew 17% year-over-year, reinforcing the increasing level of adoption in our largest and highest-value vertical. We are also excited by our pending acquisition of MarkForged, which will meaningfully enhance our industrial offering through its continuous carbon fiber technology, materials, and software platform. Our pipeline of new A&D orders continues to build as expected, positioning us to achieve sequential growth. With a debt-free balance sheet, we are poised to keep investing in our strategy from a position of financial strength.”
Summary - Second Quarter 2026 Financial Results Compared to Second Quarter 2025:
•Revenue of $137.6 million compared to $138.1 million, an increase of 3.7% sequentially from $132.7 million in the first quarter of 2026.
•GAAP gross margin of 42.3%, compared to 43.1%.
•Non-GAAP gross margin of 47.2%, compared to 47.7%.
•GAAP operating loss of $13.5 million, compared to GAAP operating loss of $16.6 million.
•Non-GAAP operating income of $0.1 million, compared to $1.1 million.
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•GAAP net loss of $16.9 million, or ($0.19) per diluted share, compared to net loss of $16.7 million, or ($0.20) per diluted share.
•Non-GAAP net income of $2.3 million, or $0.03 per diluted share, compared to $2.2 million, or $0.03 per diluted share.
•Adjusted EBITDA of $5.3 million, compared to $6.1 million.
•Cash used in operations of $18.7 million, compared to $1.1 million.
Financial Outlook:
Based on the strength of its pipeline of opportunities, the Company is reaffirming its outlook for full year 2026, while modifying its expectations regarding operating cash flow for the year. Due to increased cash usage in the first half of 2026, operating cash flow will not be positive for the full year (as had been stated in the Company’s initial outlook for the year), although operating cash flow is expected to be positive for the second half of the year. This updated outlook is based on current market conditions and assumes that the impacts of global inflationary pressures, relatively high interest rates, tariffs, exchange rates and other supply chain costs do not further impede economic activity. The specific metrics include:
•Full year revenue growing to a range of $565 million to $575 million, improving sequentially through the year.
•Based on current logistics and materials costs, full year non-GAAP gross margins of 46.7% to 47.1%, including approximately $7 million of adverse impact from tariffs and foreign exchange rates relative to 2025.
•Full year non-GAAP operating expenses ranging from $260 million to $262 million, including approximately $10 million of adverse impact from changes in foreign exchange rates.
•Full year non-GAAP operating margins in a range of 0.7% to 1.5%.
•GAAP net loss of $83 million to $67 million, or ($0.95) to ($0.76) per diluted share.
•Non-GAAP net income of $8 million to $12.5 million, or $0.09 to $0.14 per diluted share.
•Adjusted EBITDA of $25 million to $30 million, with Adjusted EBITDA margin of 4.5% to 5.0%.
•Capital expenditures of $20 million to $25 million.
Appropriate reconciliations between historical GAAP and non-GAAP financial measures, as well as between the GAAP and non-GAAP financial measures included in our updated financial outlook for 2026, are provided in the tables at the end of this press release and slide presentation, with itemized detail concerning the non-GAAP financial measures. We have not included, however, guidance for 2026 for GAAP gross margin or GAAP operating expenses, or a reconciliation of our guidance for 2026 for non-GAAP gross margins or non-GAAP operating expenses to the most directly comparable GAAP financial measures (i.e., GAAP gross margin and GAAP operating expenses, respectively), as the information needed to provide that GAAP guidance and that reconciliation is not available to us without unreasonable effort or with reasonable certainty from a quantitative perspective. We expect that the
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foregoing missing information related to our outlook on a GAAP basis for 2026 is likely to result in significant changes relative to our non-GAAP outlook in respect of the subject financial measures.
Stratasys Ltd. Second Quarter 2026 Webcast and Conference Call Details
The Company plans to webcast its conference call to discuss its second quarter 2026 financial results on Thursday, August 13, 2026, at 8:30 AM ET.
The investor conference call will be available via live webcast on the Stratasys Web site at investors.stratasys.com, or directly at the following web address:
https://event.choruscall.com/mediaframe/webcast.html?webcastid=7X5Fi2A6
To participate by telephone, the U.S. toll-free number is 877-407-0619 and the international dial-in is +1-412-902-1012. Investors are advised to dial into the call at least ten minutes prior to the call to register. The webcast will be available for six months at investors.stratasys.com, or by accessing the above-provided web address.
Stratasys is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries such as aerospace, automotive, consumer products, healthcare, fashion and education. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage in the product value chain. The world’s leading organizations turn to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.
To learn more about Stratasys, visit www.stratasys.com, the Stratasys blog, Twitter, LinkedIn, or Facebook. Stratasys reserves the right to utilize any of the foregoing social media platforms, including the Company’s websites, to share material, non-public information pursuant to the SEC’s Regulation FD. To the extent necessary and mandated by applicable law, Stratasys will also include such information in its public disclosure filings.
Stratasys is a registered trademark and the Stratasys signet is a trademark of Stratasys Ltd. and/or its subsidiaries or affiliates. All other trademarks are the property of their respective owners.
Cautionary Statement Regarding Forward-Looking Statements
The statements in this press release regarding Stratasys' strategy, and the statements regarding its projected future financial performance, including the financial guidance concerning its expected results for 2026 and beyond, are forward-looking statements reflecting management's current expectations and beliefs. These forward-looking statements are based on current information that is, by its nature, subject to rapid and even abrupt change. Due to risks and uncertainties associated with Stratasys' business, actual results could differ materially from those projected or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: the extent of our success at introducing new or improved products and solutions that gain market share; the extent of growth of the 3D printing market generally; the global macro-economic environment, including the impact of increased and/or reciprocal import tariffs that have been imposed by the U.S. and other countries, and of higher energy costs due to the U.S.-Iranian conflict; global trends involving inflation, interest rates, economic activity and currency exchange rates, and their impact on the additive manufacturing industry, our company and our customers, in particular; changes in our overall strategy, including as related to any restructuring activities and our capital expenditures; the impact of potential shifts in the prices or margins of the products that we sell or services that we provide, including due to a shift towards lower margin products or services; the impact of competition and new technologies; potential further charges against earnings that we could be required to take due to impairment of additional goodwill or other intangible assets; the extent of our success at successfully consummating and
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integrating into our existing business acquisitions or investments in new businesses, technologies, products or services; the potential adverse impact of global interruptions and delays involving freight carriers and other third parties on our supply chain and distribution network; global market, political and economic conditions, and in the countries in which we operate in particular; potential adverse effects of Israel’s wars against Iran and its sponsored terrorist organizations Hamas, Hezbollah, and, intermittently, the Houthi terrorist group in Yemen; costs and potential liability relating to litigation and regulatory proceedings; risks related to infringement of our intellectual property rights by others or infringement of others' intellectual property rights by us; the extent of our success at maintaining our liquidity and financing our operations and capital needs; the impact of tax regulations on our results of operations and financial condition; and those additional factors referred to in Item 3.D “Key Information - Risk Factors”, Item 4, “Information on the Company”, Item 5, “Operating and Financial Review and Prospects,” and all other parts of our Annual Report on Form 20-F for the year ended December 31, 2025, which we filed with the U.S. Securities and Exchange Commission, or SEC, on March 5, 2026 (the “2025 Annual Report”). Readers are urged to carefully review and consider the various disclosures made throughout our 2025 Annual Report and the Reports of Foreign Private Issuer on Form 6-K that attach Stratasys’ unaudited, condensed consolidated financial statements and its review of its results of operations and financial condition, for the quarterly periods throughout 2026, which have been or will be furnished to the SEC throughout 2026, and our other reports filed with or furnished to the SEC, which are designed to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations and prospects. Any guidance provided, and other forward-looking statements made, in this press release are provided or made (as applicable) as of the date hereof, and Stratasys undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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Use of Non-GAAP Financial Measures
The non-GAAP data included herein, including, but not limited to, data for non-GAAP gross margins, non-GAAP operating loss, non-GAAP operating margins, non-GAAP net income, and Adjusted EBITDA, which non-GAAP data excludes certain items, as detailed in the reconciliation tables herein (except for such data related to our outlook for 2026 for which we are unable to provide data for the excluded items), are non-GAAP financial measures. Our management believes that these non-GAAP financial measures are useful information for investors and shareholders of our company in gauging our results of operations. Our management utilizes these non-GAAP measures to enable us to assess our financial results (i) on an ongoing basis after excluding mergers, acquisitions and divestments related expense or gains and reorganization-related charges or gains and legal provisions, (ii) excluding non-cash items such as share-based compensation expenses, acquired intangible assets amortization, including intangible assets amortization related to equity method investments, impairment of long-lived assets and goodwill, revaluation of our investments and the corresponding tax effect of those items, (iii) for certain non-GAAP measures, after eliminating the impact of changes attributable to currency exchange rate fluctuations, and (iv) after excluding changes in revenues solely attributable to divestitures of former subsidiary companies. The items eliminated as part of our calculation of our non-GAAP financial measures either do not reflect actual cash outlays that impact our liquidity and our financial condition or have a non-recurring impact on the statement of operations, as assessed by management. Our non-GAAP financial measures are presented to permit investors to more fully understand how management assesses our performance for internal planning and forecasting purposes. The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of our results of operations without including all items indicated above during a reporting period, which may not provide a comparable view of our performance relative to other companies in our industry. Investors and other readers should consider non-GAAP measures only as supplements to, not as substitutes for or as superior measures to, the measures of financial performance prepared in accordance with GAAP. Reconciliation between results, and between certain items for our outlook for 2026, on a GAAP and non-GAAP basis is provided in the tables below.
Yonah Lloyd
CCO & VP Investor Relations
Yonah.Lloyd@stratasys.com
Source: Stratasys Ltd.
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Stratasys Ltd.
| Consolidated Balance Sheets | ||||||||||||||
| (U.S. $ in thousands, except share data) | ||||||||||||||
| (Unaudited) | ||||||||||||||
| June 30, 2026 | December 31, 2025 | |||||||||||||
| ASSETS | ||||||||||||||
| Current assets | ||||||||||||||
| Cash and cash equivalents | $ | 92,528 | $ | 94,527 | ||||||||||
Short-term bank deposits | 120,000 | 150,000 | ||||||||||||
| Accounts receivable, net of allowance for credit losses of $4,275 and $4,145 as of June 30, 2026 and December 31, 2025, respectively | 160,383 | 160,478 | ||||||||||||
| Inventories | 143,934 | 145,238 | ||||||||||||
| Prepaid expenses | 9,801 | 5,500 | ||||||||||||
| Other current assets | 28,833 | 26,241 | ||||||||||||
| Total current assets | 555,479 | 581,984 | ||||||||||||
| Non-current assets | ||||||||||||||
| Property, plant and equipment, net | 190,152 | 192,566 | ||||||||||||
| Goodwill | 100,624 | 101,599 | ||||||||||||
| Other intangible assets, net | 85,493 | 95,842 | ||||||||||||
| Operating lease right-of-use assets | 24,072 | 25,417 | ||||||||||||
| Long-term investments | 77,633 | 63,104 | ||||||||||||
| Other non-current assets | 15,851 | 13,252 | ||||||||||||
| Total non-current assets | 493,825 | 491,780 | ||||||||||||
| Total assets | $ | 1,049,304 | $ | 1,073,764 | ||||||||||
| LIABILITIES AND EQUITY | ||||||||||||||
| Current liabilities | ||||||||||||||
| Accounts payable | $ | 46,786 | $ | 43,021 | ||||||||||
| Accrued expenses and other current liabilities | 25,963 | 34,284 | ||||||||||||
| Accrued compensation and related benefits | 30,604 | 31,304 | ||||||||||||
Deferred revenues - short-term | 49,552 | 47,835 | ||||||||||||
Operating lease liabilities - short-term | 6,547 | 6,597 | ||||||||||||
| Total current liabilities | 159,452 | 163,041 | ||||||||||||
| Non-current liabilities | ||||||||||||||
| Deferred revenues - long-term | 17,426 | 19,062 | ||||||||||||
| Deferred income taxes | 399 | 312 | ||||||||||||
Operating lease liabilities - long-term | 18,865 | 19,903 | ||||||||||||
Contingent consideration - long-term | 5,360 | 5,353 | ||||||||||||
| Other non-current liabilities | 29,212 | 23,193 | ||||||||||||
| Total non-current liabilities | 71,262 | 67,823 | ||||||||||||
| Total liabilities | $ | 230,714 | $ | 230,864 | ||||||||||
| Contingencies (see note 12) | ||||||||||||||
| Equity | ||||||||||||||
| Ordinary shares, NIS 0.01 nominal value, authorized 180,000 thousand shares; 87,853 thousand shares and 86,376 thousand shares issued at June 30, 2026 and December 31, 2025, respectively; 87,587 thousand shares and 86,110 thousand shares outstanding at June 30, 2026 and December 31, 2025, respectively | $ | 246 | $ | 242 | ||||||||||
| Treasury shares at cost, 266 thousand shares at June 30, 2026 and December 31, 2025 | (1,995) | (1,995) | ||||||||||||
| Additional paid-in capital | 3,290,084 | 3,275,344 | ||||||||||||
| Accumulated other comprehensive loss | (4,561) | (6,197) | ||||||||||||
| Accumulated deficit | (2,465,184) | (2,424,494) | ||||||||||||
| Total equity | 818,590 | 842,900 | ||||||||||||
| Total liabilities and equity | $ | 1,049,304 | $ | 1,073,764 | ||||||||||
Stratasys Ltd.
Consolidated Statements of Operations | ||||||||||||||||||||||||||
(U.S. $ in thousands, except per share data) | Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||||
| (Unaudited) | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||||
| Revenues | ||||||||||||||||||||||||||
| Products | $ | 92,738 | $ | 94,791 | $ | 181,492 | $ | 188,586 | ||||||||||||||||||
| Services | 44,868 | 43,295 | 88,811 | 85,546 | ||||||||||||||||||||||
| 137,606 | 138,086 | 270,303 | 274,132 | |||||||||||||||||||||||
| Cost of revenues | ||||||||||||||||||||||||||
| Products | 48,028 | 48,617 | 94,582 | 95,885 | ||||||||||||||||||||||
| Services | 31,340 | 29,975 | 62,122 | 58,514 | ||||||||||||||||||||||
| 79,368 | 78,592 | 156,704 | 154,399 | |||||||||||||||||||||||
| Gross profit | 58,238 | 59,494 | 113,599 | 119,733 | ||||||||||||||||||||||
| Operating expenses | ||||||||||||||||||||||||||
| Research and development, net | 19,461 | 19,921 | 38,612 | 38,713 | ||||||||||||||||||||||
| Selling, general and administrative | 52,244 | 56,193 | 114,986 | 110,044 | ||||||||||||||||||||||
| 71,705 | 76,114 | 153,598 | 148,757 | |||||||||||||||||||||||
| Operating loss | (13,467) | (16,620) | (39,999) | (29,024) | ||||||||||||||||||||||
Financial income, net | 3,285 | 3,286 | 6,017 | 4,759 | ||||||||||||||||||||||
| Loss before income taxes | (10,182) | (13,334) | (33,982) | (24,265) | ||||||||||||||||||||||
Income tax expenses | 6,683 | 1,041 | 6,708 | 1,496 | ||||||||||||||||||||||
| Share in losses of associated companies | — | 2,370 | — | 4,038 | ||||||||||||||||||||||
| Net loss | $ | (16,865) | $ | (16,745) | $ | (40,690) | $ | (29,799) | ||||||||||||||||||
Net loss per ordinary share - basic and diluted | $ | (0.19) | $ | (0.20) | $ | (0.47) | $ | (0.38) | ||||||||||||||||||
Weighted average ordinary shares outstanding - basic and diluted | 87,053 | 83,485 | 86,723 | 77,722 | ||||||||||||||||||||||
Stratasys Ltd.
| Reconciliation of GAAP to Non-GAAP Results of Operations | |||||||||||||||||||||||
| Three Months Ended June 30, | |||||||||||||||||||||||
| 2026 | Non-GAAP | 2026 | 2025 | Non-GAAP | 2025 | ||||||||||||||||||
| GAAP | Adjustments | Non-GAAP | GAAP | Adjustments | Non-GAAP | ||||||||||||||||||
| U.S. dollars and shares in thousands (except per share amounts) | |||||||||||||||||||||||
| Gross profit (1) | $ | 58,238 | $ | 6,677 | $ | 64,915 | $ | 59,494 | $ | 6,323 | $ | 65,817 | |||||||||||
| Operating income (loss) (1,2) | (13,467) | 13,600 | 133 | (16,620) | 17,736 | 1,116 | |||||||||||||||||
| Net income (loss) (1,2,3) | (16,865) | 19,131 | 2,266 | (16,745) | 18,925 | 2,180 | |||||||||||||||||
| Net income (loss) per diluted share (4) | $ | (0.19) | $ | 0.22 | $ | 0.03 | $ | (0.20) | $ | 0.23 | $ | 0.03 | |||||||||||
(1) | Acquired intangible assets amortization expenses | 4,521 | 4,517 | ||||||||||||||||||||
| Non-cash share-based compensation expenses | 788 | 746 | |||||||||||||||||||||
| Restructuring and other expenses | 1,368 | 1,060 | |||||||||||||||||||||
| 6,677 | 6,323 | ||||||||||||||||||||||
(2) | Acquired intangible assets amortization expenses | 1,233 | 915 | ||||||||||||||||||||
| Non-cash share-based compensation expenses | 5,428 | 5,392 | |||||||||||||||||||||
| Restructuring and other related costs | 603 | 460 | |||||||||||||||||||||
| Contingent consideration | (4,066) | 643 | |||||||||||||||||||||
| Legal and other expenses | 3,725 | 4,003 | |||||||||||||||||||||
| 6,923 | 11,413 | ||||||||||||||||||||||
| 13,600 | 17,736 | ||||||||||||||||||||||
(3) | Corresponding tax effect | 6,201 | 182 | ||||||||||||||||||||
Equity method related expenses | — | 1,067 | |||||||||||||||||||||
Finance income | (670) | (60) | |||||||||||||||||||||
| $ | 19,131 | $ | 18,925 | ||||||||||||||||||||
(4) | Weighted average number of ordinary shares outstanding - Diluted | 87,053 | 87,454 | 83,485 | 84,024 | ||||||||||||||||||
Stratasys Ltd.
| Six Months Ended June 30, | |||||||||||||||||||||||
| 2026 | Non-GAAP | 2026 | 2025 | Non-GAAP | 2025 | ||||||||||||||||||
| GAAP | Adjustments | Non-GAAP | GAAP | Adjustments | Non-GAAP | ||||||||||||||||||
U.S. dollars and shares in thousands (except per share amounts) | |||||||||||||||||||||||
| Gross profit (1) | $ | 113,599 | $ | 12,751 | $ | 126,350 | $ | 119,733 | $ | 11,733 | $ | 131,466 | |||||||||||
Operating income (loss) (1,2) | (39,999) | 36,912 | (3,087) | (29,024) | 33,186 | 4,162 | |||||||||||||||||
Net income (loss) (1,2,3) | (40,690) | 41,679 | 989 | (29,799) | 34,857 | 5,058 | |||||||||||||||||
Net income (loss) per diluted share (4) | $ | (0.47) | $ | 0.48 | $ | 0.01 | $ | (0.38) | $ | 0.44 | $ | 0.06 | |||||||||||
| (1) | Acquired intangible assets amortization expenses | 9,043 | 9,005 | ||||||||||||||||||||
Non-cash share-based compensation expenses | 1,449 | 1,454 | |||||||||||||||||||||
Restructuring and other expenses | 2,259 | 1,274 | |||||||||||||||||||||
| 12,751 | 11,733 | ||||||||||||||||||||||
| (2) | Acquired intangible assets amortization expenses | 2,388 | 1,855 | ||||||||||||||||||||
Non-cash share-based compensation expenses | 10,052 | 10,897 | |||||||||||||||||||||
Restructuring and other related costs | 1,598 | 1,592 | |||||||||||||||||||||
| Contingent consideration | (3,731) | 1,288 | |||||||||||||||||||||
| Legal and other expenses | 13,854 | 5,821 | |||||||||||||||||||||
| 24,161 | 21,453 | ||||||||||||||||||||||
| 36,912 | 33,186 | ||||||||||||||||||||||
| (3) | Corresponding tax effect | 5,759 | 266 | ||||||||||||||||||||
Equity method related expenses | — | 1,908 | |||||||||||||||||||||
Finance income | (992) | (503) | |||||||||||||||||||||
| $ | 41,679 | $ | 34,857 | ||||||||||||||||||||
| (4) | Weighted average number of ordinary shares outstanding - Diluted | 86,723 | 87,311 | 77,722 | 78,321 | ||||||||||||||||||
Stratasys Ltd.
| Reconciliation of GAAP net loss to Adjusted EBITDA | |||||||||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
U.S. $ in thousands | U.S. $ in thousands | ||||||||||||||||||||||
| Net loss | $ | (16,865) | $ | (16,745) | $ | (40,690) | $ | (29,799) | |||||||||||||||
Financial income, net | (3,285) | (3,286) | (6,017) | (4,759) | |||||||||||||||||||
| Income tax expenses | 6,683 | 1,041 | 6,708 | 1,496 | |||||||||||||||||||
Share in losses of associated companies | — | 2,370 | — | 4,038 | |||||||||||||||||||
Depreciation expenses | 5,318 | 5,129 | 11,049 | 10,463 | |||||||||||||||||||
Amortization expenses | 5,762 | 5,442 | 11,448 | 10,879 | |||||||||||||||||||
Non-cash share-based compensation expenses | 6,216 | 6,138 | 11,501 | 12,351 | |||||||||||||||||||
| Contingent consideration | (4,066) | 643 | (3,731) | 1,288 | |||||||||||||||||||
| Legal and other expenses | 3,723 | 3,878 | 14,084 | 5,554 | |||||||||||||||||||
Restructuring and other related costs | 1,858 | 1,519 | 2,969 | 2,788 | |||||||||||||||||||
| Adjusted EBITDA | $ | 5,344 | $ | 6,129 | $ | 7,321 | $ | 14,299 | |||||||||||||||
Stratasys Ltd.
| Reconciliation of GAAP Net Loss to Non-GAAP Net Income Forward Looking Guidance: | |||||||||||||||||
Fiscal Year 2026 | |||||||||||||||||
| (U.S. $ in millions, except per share data) | Low | High | |||||||||||||||
| GAAP net loss | $(83) | to | $(67) | ||||||||||||||
| Adjustments | |||||||||||||||||
Share-based compensation expenses | $24 | to | $26 | ||||||||||||||
Intangible assets amortization expenses | $23 | to | $25 | ||||||||||||||
Reorganization and other | $31 | to | $37 | ||||||||||||||
Tax expenses related to Non-GAAP adjustments | $2 | to | $3 | ||||||||||||||
| Non-GAAP net income | $8 | to | $13 | ||||||||||||||
| GAAP loss per share | $(0.95) | to | $(0.76) | ||||||||||||||
| Non-GAAP diluted earnings per share | $0.09 | to | $0.14 | ||||||||||||||
| Reconciliation of GAAP Net Loss to Adjusted EBITDA Forward Looking Guidance: | |||||||||||||||||
Fiscal Year 2026 | |||||||||||||||||
| (U.S. $ in millions, except per share data) | Low | High | |||||||||||||||
| GAAP net loss | $(83) | to | $(67) | ||||||||||||||
| Adjustments | |||||||||||||||||
Share-based compensation expenses | $24 | to | $26 | ||||||||||||||
Intangible assets amortization expenses | $23 | to | $25 | ||||||||||||||
Reorganization and other | $31 | to | $37 | ||||||||||||||
Tax expenses related to Non-GAAP adjustments | $2 | to | $3 | ||||||||||||||
Other non-operating income | $(4) | to | $(4) | ||||||||||||||
| Depreciation | $21 | to | $21 | ||||||||||||||
| Adjusted EBITDA | $25 | to | $30 | ||||||||||||||
Stratasys Ltd.
| Reconciliation of GAAP Operating Loss to Non-GAAP Operating Income Forward Looking Guidance: | |||||||||||||||||
Fiscal Year 2026 | |||||||||||||||||
| (U.S. $ in millions, except per share data) | Low | High | |||||||||||||||
| GAAP operating loss | $(84) | to | $(69) | ||||||||||||||
| GAAP operating margins | (15)% | to | (12)% | ||||||||||||||
| Adjustments | |||||||||||||||||
Share-based compensation expenses | $24 | to | $26 | ||||||||||||||
Intangible assets amortization expenses | $23 | to | $25 | ||||||||||||||
| Reorganization and other | $31 | to | $37 | ||||||||||||||
| Non-GAAP operating profit | $4 | to | $8.5 | ||||||||||||||
| Non-GAAP operating margins | 0.7% | to | 1.5% | ||||||||||||||
Q2 2026 Results Speakers Dr. Yoav Zeif, CEO Eitan Zamir, CFO Yonah Lloyd, CCO & VP IR August 13, 2026 Make additive work for you
Make additive work for you Conference Call and Webcast Link US Toll-Free Dial-In 1-877-407-0619 International Dial-In +1-412-902-1012 Live Webcast and Replay Make additive work for you
Forward-Looking Statements Cautionary Statement Regarding Forward-Looking Statements The statements in this slide presentation regarding Stratasys' strategy and its projected future financial performance, including the financial guidance concerning its expected results for 2026, are forward-looking statements reflecting management's current expectations and beliefs. These forward-looking statements are based on current information that is, by its nature, subject to rapid and even abrupt change. Due to risks and uncertainties associated with Stratasys' business, actual results could differ materially from those projected or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: the extent of our success at introducing new or improved products and solutions that gain market share; the extent of growth of the 3D printing market generally; the global macro-economic environment, including the impact of increased import tariffs that have been imposed by the U.S. and other countries; global trends involving inflation, interest rates, economic activity, currency exchange rates, and increased energy costs, and their impact on the additive manufacturing industry, our company and our customers, in particular; changes in our overall strategy, including as related to any restructuring activities and our capital expenditures; the impact of potential shifts in the prices or margins of the products that we sell or services that we provide, including due to a shift towards lower margin products or services; the impact of competition and new technologies; potential further charges against earnings that we could be required to take due to impairment of additional goodwill or other intangible assets; the extent of our success at successfully consummating and integrating into our existing business acquisitions or investments in new businesses, technologies, products or services; the potential adverse impact of global interruptions and delays involving freight carriers and other third parties on our supply chain and distribution network; global market, political and economic conditions, and in the countries in which we operate in particular; potential adverse effects of Israel’s recent preemptive or retaliatory wars against Iran and/or its sponsored terrorist organizations Hamas, Hezbollah, and, intermittently, the Houthis; costs and potential liability relating to litigation and regulatory proceedings; risks related to infringement of our intellectual property rights by others or infringement of others' intellectual property rights by us; the extent of our success at maintaining our liquidity and financing our operations and capital needs; the impact of tax regulations on our results of operations and financial condition; and those additional factors referred to in Item 3.D “Key Information - Risk Factors”, Item 4, “Information on the Company”, Item 5, “Operating and Financial Review and Prospects,” and all other parts of our Annual Report on Form 20-F for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission, or SEC, on March 5, 2026 (the “2025 Annual Report”). Readers are urged to carefully review and consider the various disclosures made throughout our 2025 Annual Report and the Reports of Foreign Private Issuer on Form 6-K that attach Stratasys’ unaudited, condensed consolidated financial statements and its review of its results of operations and financial condition, for the quarterly periods throughout 2026, which will be furnished to the SEC throughout 2026, and our other reports filed with or furnished to the SEC, which are designed to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations and prospects. Any guidance provided, and other forward-looking statements made, in this slide presentation are provided or made (as applicable) as of the date hereof, and Stratasys undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Make additive work for you
The non-GAAP data included herein, but not limited, which excludes certain items as described below, are non-GAAP financial measures. Our management believes that these non-GAAP financial measures are useful information for investors and shareholders of our company in gauging our results of operations. Our management utilizes these non-GAAP measures to enable us to assess our financial results (i) on an ongoing basis after excluding mergers, acquisitions and divestments related expense or gains and reorganization-related charges or gains and legal provisions, (ii) excluding non-cash items such as share-based compensation expenses, acquired intangible assets amortization, including intangible assets amortization related to equity method investments, impairment of long-lived assets and goodwill, revaluation of our investments and the corresponding tax effect of those items, (iii) for certain non-GAAP measures, after eliminating the impact of changes attributable to currency exchange rate fluctuations, and (iv) after excluding changes in revenues solely attributable to divestitures of former subsidiary companies. The items eliminated as part of our calculation of our non-GAAP financial measures either do not reflect actual cash outlays that impact our liquidity and our financial condition or have a non-recurring impact on the statement of operations, as assessed by management. Our non-GAAP financial measures are presented to permit investors to more fully understand how management assesses our performance for internal planning and forecasting purposes. The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of our results of operations without including all items indicated above during a reporting period, which may not provide a comparable view of our performance relative to other companies in our industry. Investors and other readers should consider non-GAAP measures only as supplements to, not as substitutes for or as superior measures to, the measures of financial performance prepared in accordance with GAAP. Reconciliation between results on a GAAP and non-GAAP basis is provided in the tables later in this slide presentation. We have not included herein, however, a reconciliation of our non-GAAP guidance for 2026 to the most directly comparable GAAP guidance. Please see our earnings release being published today for that reconciliation (other than for our guidance for non-GAAP gross margin and non-GAAP operating expenses, as we are unable to obtain the information needed to provide either the equivalent GAAP figures (projected GAAP gross margin or projected GAAP operating expenses) or the related reconciliation without unreasonable effort or with reasonable certainty from a quantitative perspective). Make additive work for you Use of Non-GAAP Financial Information Use of Non-GAAP Financial Measures Make additive work for you
• Record level consumables sales • Revenue grew 3.7 percent sequentially • Operational rigor and disciplined cost management • A&D Mission-critical requirements translating into durable, structural demand • Markforged acquisition to meaningfully augment Stratasys offering CEO Dr. Yoav Zeif Make additive work for you
Aerospace & Defense – Q2 Revenue +17% YoY in our Largest Business Make additive work for you US Air Force Momentum ▪ Strong momentum driven by expanding USAF adoption, led by multiple-system F900 investments ▪ Orders growing in volume across their sustainment enterprise, turning into large ongoing programs Quickparts Agreement ▪ Expanded relationship with international on-demand manufacturer ▪ Twelve NEO800+ systems on top of existing six - multi-year, multi-million- dollar deal ▪ For end-use parts MFG in key verticals such as aerospace, defense, advanced mobility and energy Stratasys Direct Parts MFG +12.1% Driven by Defense ▪ Growth fueled primarily by increasing demand from defense technology companies for drone production, munitions manufacturing, and production applications across next generation platforms America Makes Win ▪ Awarded a two-year, $7.8M program from America Makes, the leading US public- private partnership with DoW for additive manufacturing, to advance next-gen in- situ monitoring for our F900/F3300 ▪ Long-term DoW strategy positions Stratasys as trusted foundation for qualified manufacturing
Automotive Make additive work for you FANUC Adoption ▪ FANUC, a leading industrial automation company, adopted Stratasys industrial solutions — reflecting a broader trend of OEMs and suppliers aligning on common platforms so parts can be qualified once and made anywhere ▪ Engagement came at the request of a major auto OEM customer seeking to standardize tools and parts with FANUC, improving consistency and cutting lead times FAW Group Agreement ▪ FAW Group, one of the largest Chinese auto OEMs, will purchase twelve F900 systems by year-end (two shipped in Q2), on top of five F900s and eight other Stratasys systems already in operation ▪ Systems primarily produce interior end-use parts like armrests and panels — a strong example of recurring business as customers experience Stratasys' value on their production lines
• Provides hardware, materials, and software solutions to a broad range of industries including aerospace, defense, automotive, and food and beverage • Enables production-grade, high-strength, lightweight parts for demanding industrial applications • ~$70M of revenue in (2025) • $42.5M all-cash(1) purchase price • Integration of talent, partner and reseller network • Adds differentiated capabilities to Stratasys with continuous carbon fiber technology, and proprietary polymer and composite offering • Strengthens leadership and product offering in attractive target verticals of aerospace & defense, automotive and industrial tooling • Advanced software for high requirement production applications • Expands presence in high-performance, production-grade end-use applications • Broadens go-to-market reach by combining complementary reseller and partner networks and unlocks cross-selling opportunities • Gross margin accretive transaction, expecting significant cost synergies and a positive EBITDA contribution within the first year • Expected close by the end of 2026, subject to customary approvals and conditions Markforged is a full solution OEM Manufacturer of Fused Filament Fabrication (FFF) technology Transaction Highlights (1) On a cash-free debt-free basis, subject to closing adjustments Make additive work for you Markforged Acquisition
ARCH – New Americas Regional Corporate Headquarters ▪ Grand opening of ARCH, a 200,000 square foot facility in Minnetonka, Minnesota ▪ ARCH brings together engineering, innovative research and development, applications expertise, Stratasys Direct, and customer collaboration capabilities, under one roof ▪ Will support anticipated growing demand and reinforces our focus on production-scale, additive manufacturing ▪ Encouraging feedback from investors - seeing our technology at work in a real-world environment can greatly enhance the appreciation for our strategy - we look forward to hosting more of the investment community in the future ARCH – 200,000 Sq. Foot Facility to Support Growing Demand Make additive work for you
CFO Eitan Zamir Second Quarter Results Reflect: ▪ Continued execution on our manufacturing-focused strategy ▪ Deepened customer reliance on our solutions, as demonstrated by highest-ever revenue for consumables ▪ Multiple repeat-customer sales for aerospace, defense and automotive customers
Quarterly Trend 94.8 94.1 97.6 88.8 92.7 43.3 42.9 42.4 43.9 44.9 138.1 137.0 140.0 132.7 137.6 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Product Service Q2 2026 Revenue Make additive work for you Revenues – Q2’26 Revenue Y/Y Product - $92.7M -2.2% ▪ Systems - $26.4M -13.7% ▪ Consumables - $66.3M 3.3% Services - $44.9M 3.7% ▪ Customer Support - $29.9M -1.0% Note: $ in millions unless noted otherwise. All numbers and percentages rounded.
GAAP Non-GAAP 47.7% 45.3% 46.3% 46.3% 47.2% 54.3% 52.4% 50.2% 53.8% 54.8% 33.1% 29.7% 37.4% 31.0% 31.4% Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Services Gross MarginProducts Gross Margin Total Gross Margin Make additive work for you Note: All percentages rounded. Q2 2026 Gross Margins 48.7% 47.0% 37.7% 47.5% 48.2% 30.8% 27.6% 34.5% 30.1% 30.1% 43.1% 41.0% 36.8% 41.7% 42.3% Q2-25 Q3-25 Q4-25 Q1-26 Q2-26
GAAP Operating Expenses (absolute and as a percentage of revenues) Non-GAAP Operating Expenses (absolute and as a percentage of revenues) 76.1 71.7 52.1% Q2'25 Q2'26 55.1% 64.7 64.8 Q2'25 Q2'26 47.1%46.9% Note: $ in millions unless noted otherwise. All numbers and percentages rounded. Make additive work for you Q2 2026 Operating Expenses
GAAP Operating Loss (16.6) Q2’25 (13.5) Q2’26 GAAP Net Loss EPS diluted ($0.20) in Q2’25 vs ($0.19) in Q2’26 (16.7) Q2’25 (16.9) Q2’26 Non-GAAP Operating Income 0.8% in Q2’25 vs 0.1% in Q2’26 out of total revenue 1.1 Q2’25 0.1 Q2’26 Non-GAAP Net Income EPS diluted $0.03 in Q2’25 vs $0.03 in Q2’26 2.2 Q2’25 2.3 Q2’26 Adjusted EBITDA 4.4% in Q2’25 vs 3.9% in Q2’26 out of total revenue 6.1 Q2’25 5.3 Q2’26 Note: $ in millions, except per share amounts unless noted otherwise. All numbers and percentages rounded. Make additive work for you Q2 2026 Operating, Net and EBITDA
Balance Sheet ItemsCash Flow from Operating Activities 15Make additive work for you Strong Balance Sheet – $212.5M Cash, Equivalents and No Debt (1.1) (18.7) Q2-25 Q2-26 Q2-25 Q4-25 Q2-26 Cash and Cash Equivalents and Short- term deposits 254.6 244.5 212.5 Accounts Receivable 157.9 160.5 160.4 Inventories 164.6 145.2 143.9 Net Working Capital 448.8 418.9 396.0 Q2 Cash usage atypically high, mainly driven by non-routine items including legal expenses to proactively protect IP Note: $ in millions unless noted otherwise. All numbers and percentages rounded.
Revenues Non-GAAP Operating Expenses Includes ~$10M adverse impact from FX Non-GAAP Operating Margins Adjusted Net Income Adjusted EPS diluted GAAP Net loss ($83M) - ($67M) GAAP EPS ($0.95) - ($0.76) CAPEX Adjusted EBITDA 4.5% - 5.0% of Revenue Includes ~$17M adverse impact from FX & Tariffs $565M – $575M 46.7% – 47.1% $260M – $262M $20M – $25M$25M – $30M0.7% – 1.5% Positive Operating Cash Flow for H2 2026 Subject to foreign exchange rate and tariff uncertainty 2026 Full-Year Outlook $8M – $12.5M $0.09 – $0.14 Make additive work for you Non-GAAP Gross Margins Includes ~$7M adverse impact from FX & Tariffs
Summary Dr. Yoav Zeif, CEO ▪ Confidence in strategy and durability of megatrends driving additive manufacturing adoption ▪ Successfully executing on stated goal to transform our business from prototyping to manufacturing ▪ Manufacturing revenue is growing making us more robust and a larger part of our customers critical production line infrastructure ▪ Multi-unit, multi-year wins reflect increasing enthusiasm and usage ▪ Strong customer engagement as magnitude of commitments bring longer sales cycles with many opportunities emerging to generate a sales flywheel propelling increased growth in the coming years ▪ Aerospace, defense and automotive momentum, anticipated impact from dental and ongoing Stratasys Direct contribution reinforce the structural demand across key verticals, as we build long-term value Make additive work for you
THANK YOU
Note: $ in millions, except per share amounts unless noted otherwise. All numbers and percentages rounded. Appendix – Comparison of Q2 2026 to Q2 2025 Key Metrics Make additive work for you
Note: $ in thousands unless noted otherwise. All numbers and percentages rounded. Appendix – Reconciliation of GAAP to Non-GAAP Results of Operations GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP Gross Profit (1) $ 58,238 $ 6,677 $ 64,915 $ 59,494 $ 6,323 $ 65,817 Operating income (loss) (1,2) (13,467) 13,600 133 (16,620) 17,736 1,116 Net income (loss) (1,2,3) (16,865) 19,131 2,266 (16,745) 18,925 2,180 Net income (loss) per diluted share (4) $ (0.19) $ 0.22 $ 0.03 $ (0.20) $ 0.23 $ 0.03 (1) Acquired intangible assets amortization expenses 4,521 4,517 Non-cash share-based compensation expenses 788 746 Restructuring and other expenses 1,368 1,060 6,677 6,323 (2) Acquired intangible assets amortization expenses 1,233 915 Non-cash share-based compensation expenses 5,428 5,392 Restructuring and other related costs 603 460 Contingent consideration (4,066) 643 Legal and other expenses 3,725 4,003 6,923 11,413 13,600 17,736 (3) Corresponding tax effect 6,201 182 Equity method related expenses and impairment - 1,067 Finance income (670) (60) $ 19,131 $ 18,925 (4) Weighted average number of ordinary shares outstanding- Diluted 87,053 87,454 83,485 84,024 Three Months Ended June 30, 2026 Three Months Ended June 30, 2025 Make additive work for you
Appendix – Reconciliation of GAAP Net Loss to Adjusted EBITDA 2026 2025 Net loss $ (16,865) $ (16,745) Financial income, net (3,285) (3,286) Income tax expenses 6,683 1,041 Share in losses of associated companies - 2,370 Depreciation expenses 5,318 5,129 Amortization expenses 5,762 5,442 Non-cash share-based compensation expenses 6,216 6,138 Contingent consideration (4,066) 643 Legal and other expenses 3,723 3,878 Restructuring and other related costs 1,858 1,519 Adjusted EBITDA $ 5,344 $ 6,129 Three Months Ended June 30, Make additive work for you Note: $ in thousands unless noted otherwise. All numbers and percentages rounded.