Stratasys Q2 stabilizes as high-end systems sales bounce back

The additive manufacturing player is still looking for a new CEO and maintains its 2018 outlook.

Stratasys' BioMimics can 3D-print bones and hearts for physician training Stratasys has launched a new effort called BioMimics. It couples 3D printing with various materials and services to create lifelike anatomical structures. The company said it developed BioMimics to offer bone and heart models. Typically, physician training revolves around expensive animal, mannequin, or cadaver models. Stratasys' multi-material 3D printing mirrors soft tissue and bones and eliminates associated costs. BioMimics will combine Stratasys' PolyJet 3D tech and materials to match what medical pros see in real life. BioMimics will be able to replicate hearts, bones, the spine and its discs and ligaments. BioMimics can even go custom to replicate a diseased vessel of a 50 year old with calcification and plaque. Hearts will be available in a full range of conditions from adults to pediatric patients. Early partners include The Jacobs Institute, SickKids and the University of Toronto. This industry-specific approach is a well-worn strategy in enterprise software and technology.

Stratasys said sales of high-end 3D printing systems bounced back to more normal patterns in the second quarter as its results topped estimates.

The company, which is focused on 3D printing and additive manufacturing, reported a second quarter net loss of $3.6 million, or 8 cents a share, on revenue of $170.2 million, flat with a year ago. Non-GAAP earnings for the second quarter were 15 cents a share.

Wall Street was expecting second quarter non-GAAP earnings of 9 cents a share on revenue of $167 million. The company reiterated its revised outlook for 2018. Stratasys is projecting 2018 revenue between $670 million and $700 million with non-GAAP earnings of 30 cents to 50 cents a share.

Stratasys is looking for a permanent CEO. Elan Jaglom, interim CEO, said the company "saw recovery in high-end system orders in North America and in certain verticals, specifically our customers in government, aerospace, and automotive." In the first quarter, those industries pulled back on orders.

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The company also indicated that it was confident in its roadmap and that its metal additive manufacturing platform should see increased momentum.