Stratiss hits the forecasts; The stock jumps 12% – Global

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Stratiss
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(SSYS) 3D printer developer reports revenue of $ 142.4 million in the fourth quarter and $ 520.8 million for 2020 as a whole. In the same quarter in 2019, revenues totaled $ 160.2 million. Non-GAAP earnings were $ 7 million – 13 cents a share, compared to $ 10 million – 18 cents a share in the same quarter last year. The results for the quarter are better than analysts expect revenue of $ 135 million and a loss of 3 cents per share. In response to the results and the forecast (see below), the company’s share jumps by 12%.

Commenting on the results, Dr. Yoav Zayef, CEO of Stratiss, said: “Our results reflect the resilience of our diverse business model. We have achieved a consistent quarterly growth over the past six months and this quarter has resulted in the highest operating cash flow in nearly three years. Because our company and industry are entering a significant and sustained boom of unprecedented growth and we look forward to enjoying the opportunities before us.

“In 2020, we implemented a new strategy for the first time with the aim of being the first choice of 3D printing in polymers, focusing on expanding into the evolving field of manufacturing applications. We adjusted our company size and operational model to be application focused. This focus allows our teams to enjoy synergies Stratiss is well-prepared for growth and has a stable debt-free balance sheet. During the year we will add three technology platforms and continue to carefully implement our resource allocation strategy to significantly increase revenue, profits and cash flows. However, we make sure our investments start Contribute to performance in the coming years and create value for our shareholders. ”

Revenues for the whole of 2020 amounted to $ 520.8 million, compared to $ 636 million in the corresponding quarter. The non-GAAP loss for 2020 amounted to 13.9 million (25 cents per share), compared to a non-GAAP profit of 30.5 million (56 cents per share).

Forecast – Revenue for the first quarter of 2021 is expected to be similar to that for the first quarter of 2020. Revenue for the second quarter of 2021 is expected to grow by about 10-20% compared to last year, based on continued consumption trends and the effects of the plague.

Operating expenses for the full year are expected to increase by approximately 25 million over 2020, mainly due to a return from a four-day work week to a five-day work week starting on 1.1.2021, as well as the impact of recent acquisitions. In the longer term, the company expects to realize significant leverage benefits that will result from its investments, as revenue growth will increase from 2022 onwards.

Property investments (CAPEX) are expected to range from 24 million to 30 million.