Page 1

May 5 , 2021 stratasys Stratasys Releases First Quarter 2021 Financial Results • Revenue of $ 134.2 million • GAAP net loss of $ 18.9 million , or $ 0.32 per diluted share , and non - GAAP net loss of $ 3.8 million , or $ 0.06 per diluted share • Generated $ 22.8 million of cash from operations • Completed growth capital raise of $ 230 million in gross proceeds • $ 530.4 million cash and no debt at quarter end MINNEAPOLIS & REHOVOT , Israel -- ( BUSINESS WIRE ) -- Stratasys Ltd. ( NASDAQ : SSYS ) announced financial results for the first quarter of 2021 . First Quarter 2021 Financial Results Summary Compared to First Quarter 2020 : • Revenue of $ 134.2 million compared to $ 132.9 million . • GAAP gross margin was 41.4 % , compared to 45.0 % . • Non - GAAP gross margin was 46.7 % , compared to 48.4 % . • GAAP operating loss was $ 18.4 million , compared to an operating loss of $ 19.9 million . • Non - GAAP operating loss was $ 2.6 million , compared to an operating loss of $ 8.4 million . • GAAP net loss was $ 18.9 million , or $ 0.32 per diluted share , compared to a net loss of $ 21.7 million , or $ 0.40 per diluted share . • Non - GAAP net loss was $ 3.8 million , or $ 0.06 per diluted share , compared to a net loss of $ 10.6 million , or $ 0.19 per diluted share . • Adjusted EBITDA was $ 3.5 million , compared to $ ( 2.1 ) million . • Cash from operations of $ 22.8 million , compared to $ 11.3 million . " I am pleased with our performance in the first quarter that drove 41 % growth in system revenues . Thanks to our team's dedication and successful execution , Stratasys delivered solid results and is well - positioned at the forefront of our industry , as end markets continue to recover and 3D printing industry growth accelerates , " stated Dr. Yoav Zeif , Chief Executive Officer of Stratasys . Dr. Zeif continued , “ 3D printing is migrating from being primarily a prototyping tool to providing full - scale , digital manufacturing platforms at mass production levels . With our focused business model , we continue to make progress on our strategy to grow our manufacturing applications , which will solidify our position as the first choice in polymer 3D printing . We recently hosted an unprecedented online event for over 4,500 customers , resellers and partners , where we introduced three next - generation manufacturing systems that address a large portion of the multibillion - dollar market opportunity in additive manufacturing of end - use parts and will play an integral role in positioning the business for future growth . Looking to the rest of 2021 , we will continue to prioritize strategic investments that we expect to yield significant returns and sustained profitability in the years to come .