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olivLaw · US equity research

Stratasys Ltd. SSYS

Computer Peripheral Equipment, NEC · SIC 3577 · Vertical: Computer Peripheral Equipment, NEC (SIC 3577)

6.82USD−2.29% · 1 dayClose 04 Nov 2026

Stratasys Ltd. is a global leader in polymer-based 3D printing, offering solutions across the product life cycle from prototyping to end-use part production. The company is under pressure from customers' capital expenditure budgets, which slightly reduced revenue in 2025, while it restructures and focuses on industrial manufacturing.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 04 Nov 2026, Stratasys Ltd. (SSYS) stock was 6.82 USD (−2.29% on the day), with market capitalisation 587.3 m USD, beta 1.37, 52-week range 6.72–11.62 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
587.3 m USD
shares as of 31 Dec 2025
P/E (TTM)
unavailable
Diluted EPS TTM -1.28 · TTM to 31 Dec 2025
E/P (TTM)
-18.77%
TTM to 31 Dec 2025
Dividend yield
unavailable
Beta (2y)
1.37
Volatility (1y) 48%
52-week range
6.7211.62

Price history

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Technical reading

RSI (14)
37.5
weak (30–45)
Bollinger (20, 2)
6.39 – 7.86
in the lower half of the band · %B 0.29 · band width 20.7%
SMA 50 / 200
7.65 / 8.62
downtrend (price < SMA50 < SMA200)
MACD (12, 26, 9)
-0.27 / -0.28
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month−20.5%−1.1%−19.4 pp—
3 months−23.9%−0.5%−23.4 pp—
6 months−26.3%+4.4%−30.7 pp—
Year to date−21.4%+12.3%−33.7 pp—
1 year−30.9%+13.5%−44.4 pp−9.7%
3 years−39.4%+76.4%−115.8 pp+6.8%
5 years−80.3%+63.7%−144.0 pp—
Max drawdown (1y)
−42.2%
15 Jan 2026 → 30 Oct 2026
Max drawdown (5y)
−83.4%
08 Nov 2021 → 06 Sept 2024
Compound annual growth (5y)
−27.8%
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

ESEF annual reports carry no quarters: the results are annual (below).

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Fiscal years

Fiscal year20182019202020212022202320242025
Revenue663.2 m636.1 m520.8 m607.2 m651.5 m627.6 m572.5 m551.1 m
Revenue YoY−0.8%−4.1%−18.1%+16.6%+7.3%−3.7%−8.8%−3.7%
Net income-11.0 m-10.8 m-443.7 m-62.0 m-29.0 m-123.1 m-120.3 m-104.3 m
Net income YoYunavailableunavailableunavailableunavailableunavailableunavailableunavailableunavailable
Diluted EPS-0.22-0.20-8.08-0.98-0.44-1.79-1.70-1.28
Diluted EPS YoYunavailableunavailableunavailableunavailableunavailableunavailableunavailableunavailable
net %-1.7%-1.7%-85.2%-10.2%-4.4%-19.6%-21.0%-18.9%
Free cash flow40.4 m-33.6 m859.0 k10.8 m-89.0 m-75.2 m-3.0 m-7.0 m

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
94.5 m USD
Financial debt
unavailable USD
Net debt
unavailable USD
Equity
842.9 m USD
Total assets
1.1 bn USD
Debt / equity
unavailable
Current ratio
3.57x
ROE
-12.7%
ROA
-9.9%
FCF margin
-1.3%

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
627.6 m
2024
572.5 m
2025
551.1 m

SEC (XBRL)· 05 Mar 2026verified

Cost of revenue
2023
360.6 m
2024
315.6 m
2025
323.8 m

SEC (XBRL)· 05 Mar 2026verified

Gross profit
2023
267.0 m
2024
256.8 m
2025
227.3 m

SEC (XBRL)· 05 Mar 2026verified

Research & development
2023
94.4 m
2024
99.1 m
2025
77.3 m

SEC (XBRL)· 05 Mar 2026verified

SG&A
2023
260.2 m
2024
243.3 m
2025
222.5 m

SEC (XBRL)· 05 Mar 2026verified

Operating income
2023
-87.6 m
2024
-85.7 m
2025
-72.5 m

SEC (XBRL)· 05 Mar 2026verified

Depreciation & amortisation
2023
49.0 m
2024
45.3 m
2025
43.2 m

SEC (XBRL)· 05 Mar 2026verified

EBITDA
2023
-38.6 m ≈
2024
-40.3 m ≈
2025
-29.3 m ≈

SEC (XBRL)· 05 Mar 2026derived

Pre-tax income
2023
-84.6 m
2024
-84.0 m
2025
-62.1 m

SEC (XBRL)· 05 Mar 2026verified

Income tax
2023
5.8 m
2024
3.0 m
2025
3.1 m

SEC (XBRL)· 05 Mar 2026verified

Net income
2023
-123.1 m
2024
-120.3 m
2025
-104.3 m

SEC (XBRL)· 05 Mar 2026verified

Diluted EPS
2023
-1.79
2024
-1.70
2025
-1.28

SEC (XBRL)· 05 Mar 2026verified

Weighted average diluted shares
2023
—
2024
—
2025
—

SEC (XBRL)· 03 Mar 2023verified

Balance sheet · USD

Cash
2023
82.6 m
2024
70.2 m
2025
94.5 m

SEC (XBRL)· 05 Mar 2026verified

Receivables
2023
—
2024
—
2025
—

SEC (XBRL)· 24 Feb 2022verified

Inventories
2023
193.0 m
2024
179.8 m
2025
145.2 m

SEC (XBRL)· 05 Mar 2026verified

Current assets
2023
560.1 m
2024
513.0 m
2025
582.0 m

SEC (XBRL)· 05 Mar 2026verified

Property, plant & equipment, net
2023
197.6 m
2024
184.4 m
2025
192.6 m

SEC (XBRL)· 05 Mar 2026verified

Goodwill
2023
100.1 m
2024
99.1 m
2025
101.6 m

SEC (XBRL)· 05 Mar 2026verified

Intangibles (excl. goodwill)
2023
127.8 m
2024
106.3 m
2025
95.8 m

SEC (XBRL)· 05 Mar 2026verified

Total assets
2023
1.1 bn
2024
1.0 bn
2025
1.1 bn

SEC (XBRL)· 05 Mar 2026verified

Accounts payable
2023
46.8 m
2024
45.0 m
2025
43.0 m

SEC (XBRL)· 05 Mar 2026verified

Current liabilities
2023
176.4 m
2024
167.2 m
2025
163.0 m

SEC (XBRL)· 05 Mar 2026verified

Total liabilities
2023
249.1 m
2024
236.8 m
2025
230.9 m

SEC (XBRL)· 05 Mar 2026verified

Equity
2023
884.8 m †
2024
793.0 m †
2025
842.9 m †

SEC (XBRL)· 05 Mar 2026verified

Shares outstanding at year end
2023
69.7 m
2024
71.7 m
2025
86.1 m

SEC (XBRL)· 05 Mar 2026verified

Cash flow · USD

Operating cash flow
2023
-61.6 m
2024
7.8 m
2025
15.1 m

SEC (XBRL)· 05 Mar 2026verified

Capex
2023
13.6 m
2024
10.9 m
2025
22.1 m

SEC (XBRL)· 05 Mar 2026verified

Free cash flow
2023
-75.2 m ≈
2024
-3.0 m ≈
2025
-7.0 m ≈

SEC (XBRL)· 05 Mar 2026derived

Investing cash flow
2023
-3.8 m
2024
-14.8 m
2025
-112.2 m

SEC (XBRL)· 05 Mar 2026verified

Financing cash flow
2023
-1.5 m
2024
-3.3 m
2025
118.0 m

SEC (XBRL)· 05 Mar 2026verified

Computed indicators

Growth

Revenue growth (YoY)
-3.7%
computed by olivLawFY 2025
Revenue CAGR 3Y
-5.4%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
1.1%
computed by olivLawFY 2020 → FY 2025
EBIT growth (YoY)
unavailable
the base of the ratio is not positive
Net income growth (YoY)
unavailable
the base of the ratio is not positive
Net income CAGR 3Y
unavailable
the base of the ratio is not positive
Net income CAGR 5Y
unavailable
the base of the ratio is not positive
EPS growth (YoY)
unavailable
the base of the ratio is not positive
EPS CAGR 3Y
unavailable
the base of the ratio is not positive
EPS CAGR 5Y
unavailable
the base of the ratio is not positive
FCF growth (YoY)
unavailable
the base of the ratio is not positive

Profitability

Gross margin
41.2%
computed by olivLawFY 2025
EBITDA margin
-5.3%
computed by olivLawFY 2025
EBIT margin
-13.2%
computed by olivLawFY 2025
Net margin
-18.9%
computed by olivLawFY 2025
FCF margin
-1.3%
computed by olivLawFY 2025

Returns

ROE
-12.7%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
ROA
-9.9%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
ROIC
unavailable
input data missing
ROCE
-8.0%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
unavailable
input data missing
Net debt / EBITDA
unavailable
input data missing
Debt / equity
unavailable
input data missing
Interest coverage
unavailable
input data missing

Liquidity

Current ratio
3.6x
computed by olivLawbalance sheet at 31 Dec 2025
Cash ratio
0.6x
computed by olivLawbalance sheet at 31 Dec 2025

Cash

Operating cash flow
15.1 m USD
computed by olivLawFY 2025
Capital expenditure
22.1 m USD
computed by olivLawFY 2025
Free cash flow
-7.0 m USD
computed by olivLawFY 2025
FCF conversion
unavailable
insufficient data
Cash conversion
unavailable
insufficient data

Efficiency

Days sales outstanding
unavailable
input data missing
Days payables outstanding
50 days
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025

Market and valuation

Market capitalisation
587.3 m USD
computed by olivLawbalance sheet at 31 Dec 2025
Enterprise value
unavailable
input data missing
Market cap / net income TTM
unavailable
insufficient data
P/E (TTM)
unavailable
insufficient data
Earnings yield
-18.8%
computed by olivLawFY 2025
P/B
0.7x
computed by olivLawbalance sheet at 31 Dec 2025
P/S
1.1x
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
unavailable
the base of the ratio is not positive
FCF yield
-1.2%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero
Shareholder yield (distributions)
unavailable
input data missing

4 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • valuation methods computed: 0 of at least 1

A scoring methodology on indicators and valuation, not investment advice.

Closing price

6.82 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 587.3 m USD

Key indicators

Market capitalisation
587.3 m USD
computed by olivLawbalance sheet at 31 Dec 2025
P/E (TTM)
unavailable
insufficient data
P/B
0.7x
computed by olivLawbalance sheet at 31 Dec 2025
EV/EBITDA
unavailable
input data missing
ROE
-12.7%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Net margin
-18.9%
computed by olivLawFY 2025
Revenue growth (YoY)
-3.7%
computed by olivLawFY 2025
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero

Coverage and freshness

31/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 31 Dec 2025
Latest balance sheet date: 31 Dec 2025
Share count (cover of the latest filing), as of: 31 Dec 2025
Source: SEC (XBRL)published 05 Mar 2026
verified 496

Score by group

72% · Insufficient data

Estimated value range

unavailable — no valuation method could be computed

Valuation assumptions are editorial choices, not measured; beta is not measured.

Valuation methods

  • DCF (discounted cash flow)unavailable · input data missing
  • Peers: EV/Salesunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)

no valuation method could be computed

Multiple comparisons use the SIC vertical: Computer Peripheral Equipment, NEC (SIC 3577)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Insufficient data

Minimum-evidence gate: valuation methods computed: 0 of at least 1

FactorValueScoreWeight used
Gross margin · Quality41.2%3 (on a fixed band)15%
EBIT margin · Quality-13.2%31 (vs peers)12%
FCF margin · Quality-1.3%0 (on a fixed band)12%
Revenue CAGR 3Y · Growth-5.4%0 (on a fixed band)24%
Revenue growth (YoY) · Growth-3.7%12 (vs peers)12%
Net debt / EBITDA · Balance sheetunavailableunavailable—
Current ratio · Balance sheet3.6x100 (on a fixed band)9%
EV/Sales · Valuationunavailableunavailable—
FCF yield · Valuation-1.2%0 (on a fixed band)18%
Shareholder yield (distributions) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet· partial100/100 · 1/2 factors with a value
  • Growth4/100 · 2/2 factors with a value
  • Quality11/100 · 3/3 factors with a value
  • Returns· partialunavailable · 0/1 factors with a value
  • Valuation· partial0/100 · 1/2 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

STRATASYS LTD. (SSYS). Latest full fiscal year: 2025; data up to 2025-12-31.

Figures computed from the financial statements: revenue 551.1 m USD in 2025; YoY growth -3.7%; net margin -18.9%; ROE -12.7%.

Valuation cannot be computed from the available data.

Insufficient data for a verdict (valuation methods computed: 0 of at least 1).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • Current ratio: 3.6x

What contradicts it

  • Gross margin: 41.2%
  • FCF margin: -1.3%
  • Revenue CAGR 3Y: -5.4%
  • Revenue growth (YoY): -3.7%
  • FCF yield: -1.2%

Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, EV/Sales, Shareholder yield (distributions).

Versus the vertical median

Computer Peripheral Equipment, NEC (SIC 3577) · same industry (4-digit SIC) · compared with 17 companies

Multiples and returns vs the median

P/E
—
vertical median 31.1x
EV/EBITDA
—
vertical median —
P/S
1.1x
vertical median 2.6x
below median (−59.6%)
P/B
0.7x
vertical median 1.9x
below median (−63.6%)
ROE
-12.7%
vertical median 0.2%
below median (−5,327.3%)
Net margin
-18.9%
vertical median -0.8%
below median
EBIT margin
-13.2%
vertical median 0.5%
below median (−2,579.5%)
Revenue YoY
-3.7%
vertical median 11.9%
below median (−131.5%)
Net debt/EBITDA
—
vertical median —
Dividend yield
—
vertical median 3.1%

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
PANWPalo Alto Networks, Inc.284.7 bn870.11.7%2.7%+24.5%+83% / +136%
FTNTFortinet, Inc.95.1 bn42.1153.1%29.0%+14.2%+59% / +146%
LOGILogitech International S.A.14.2 bn18.138.2%16.4%+6.3%−11% / +14%
CRSRCorsair Gaming, Inc.1.4 bn41.45.8%2.5%+11.9%+104% / +3%
EVLVEvolv Technologies Holdings, Inc.871.2 m—-4.9%-3.0%+40.5%−25% / +20%
MITKMitek Systems, Inc.861.4 m40.79.2%11.4%+4.4%+115% / +69%
SSYSStratasys Ltd.587.3 m—-12.7%-18.9%−3.7%−31% / −39%
IMMRImmersion Corporation237.8 m21.63.5%0.6%+11.2%+1% / +10%
RDCMRadcom Ltd.168.7 m14.311.4%16.8%+17.2%−22% / +29%
XRXXerox Holdings Corp155.0 m—-128.0%-11.9%+12.9%−58% / −92%
MYNDMynd.ai, Inc.126.0 m—-995.5%-32.2%−37.2%−56% / −97%
INVEInve Technologies, Inc.64.0 m—-10.9%-62.9%−19.3%−22% / −62%
TACTTransact Technologies Inc54.4 m—-1.3%-0.8%+18.7%+19% / −22%
LINKInterlink Electronics, Inc52.3 m—-10.5%-7.9%+1.8%−8% / −39%
WETHWetouch Technology Inc.11.6 m1.26.0%17.6%+6.8%−57% / unavailable
AIMDAinos, Inc.5.4 m—-196.3%-106,283.3%+499.0%−65% / −95%
YIBOPlanet Image International Limited——-14.4%-5.3%+3.6%+5% / unavailable
VTIXVirtuix Holdings Inc.———-543.2%+18.4%unavailable / unavailable

1- and 3-year price returns: for SSYS from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
3 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
5 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
What moves the 3-year price the most

    AI analysis

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    Possibly outdated: the newest document it read is from 05 Mar 2026; since then the company filed 6-K (07 Oct 2026), 6-K (05 Oct 2026), 6-K (13 Aug 2026), 6-K (27 May 2026), 6-K (07 May 2026).

    In brief

    Stratasys Ltd. is a global leader in polymer-based 3D printing, offering solutions across the product life cycle from prototyping to end-use part production. The company is under pressure from customers' capital expenditure budgets, which slightly reduced revenue in 2025, while it restructures and focuses on industrial manufacturing.

    SWOT

    Strengths

    • Broad portfolio of proprietary technologies and materials, an exclusive global reseller network and a large patent portfolio.
    • Solid liquidity, no debt, and a recent equity transaction that brought resources for acquisitions.
    • Recurring revenue from consumables and services that stabilizes the business during periods of lower capital spending.

    Weaknesses

    • Revenue is sensitive to customers' capital budgets, and sales cycles have lengthened.
    • The cost structure is relatively rigid, so a drop in prices or volumes could weigh on financial results.
    • Quarterly results are volatile, and the company posted a GAAP net loss despite non-GAAP profitability.

    Opportunities

    • Growth in polymer end-use part production in aerospace, automotive and dentistry could expand the addressable market.
    • The iAM Marketplace could turn consumables and services into a steadier source of revenue.
    • If interest rates fall, customer budgets could recover and sales cycles could shorten.

    Threats

    • Import tariffs could raise costs and reduce demand in affected industries.
    • Patent expirations could allow competitors to offer similar consumables and printers at lower prices.
    • Regional tensions affecting Israel, where one headquarters and one factory are located, could disrupt operations.

    Risks

    • Weaker demand than expectedhigh

      If demand for 3D printing does not grow as expected, revenue could stagnate or decline and profitability could suffer.

    • Fluctuating resultsmedium

      Quarterly and annual results have varied and could keep varying, which makes comparisons unreliable.

    • Tariffs and import costshigh

      Higher US tariffs could reduce gross margins and affect customers in exposed industries.

    • Protection of intellectual propertymedium

      Copying of consumables or patent expirations could let competitors reduce the company's sales.

    • Geopolitical risk in Israelmedium

      Hostilities in the region could affect operations, and exchange rate moves against the shekel could influence results.

    Investment thesis

    What would need to be true (bull case)

    • If inflation and interest rates fall, customer budgets could recover, and growth in polymer part production could support revenue over the medium term.
    • The debt-free balance sheet and existing liquidity give flexibility for investment or acquisitions in the industry.
    • Recurring consumables revenue and the iAM Marketplace could stabilize the business and could improve margins.

    What would break the thesis

    • If pressure on customer budgets continues, revenue could remain below earlier levels and restructuring may not deliver fast growth.
    • Import tariffs and higher costs could compress margins, especially if the company cannot pass them on to customers.
    • Competition and patent expirations could reduce market share and push prices down.

    What to watch

    • Revenue trend in the manufacturing segment and demand from aerospace and automotive customersQ1 2027
    • Effect of import tariffs on gross margin, per company guidance2026
    • Use of liquidity for acquisitions or industry investmentsnext 10-K
    • Progress of the restructuring and announced cost savings2027

    Products, market & competition

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    Possibly outdated: the newest document it read is from 05 Mar 2026; since then the company filed 6-K (07 Oct 2026), 6-K (05 Oct 2026), 6-K (13 Aug 2026), 6-K (27 May 2026), 6-K (07 May 2026).

    The business

    Stratasys Ltd. resulted from the 2012 merger of Stratasys, Inc. and Objet Ltd. and is listed on Nasdaq under the symbol SSYS. The company offers 3D printers, materials, software, expert services and on-demand part production, using five different technology platforms including FDM, PolyJet, P3, SAF and Neo stereolithography. It has dual headquarters in Rehovot, Israel, and Minnetonka, Minnesota, and states that it holds about 2,700 granted or pending patents.

    Recent strategy has focused on the end-use part manufacturing segment in polymers, where it acquired Origin, Xaar, Covestro, and assets of Forward AM and Nexa3D. In October 2025 it launched the iAM Marketplace, an open platform for materials and engineering services. The company describes recurring revenue from consumables and services as an important part of its business model.

    Financially, the company reports a GAAP net loss but non-GAAP profitability in 2025, carries no debt, and ended the year with 244.5 million USD in cash. The fund Fortissimo invested 120 million USD in an April 2025 PIPE transaction, which increased the capital available for possible acquisitions in the 3D printing industry.

    Segments

    Manufacturing solutions

    This segment, which includes technologies such as P3, SAF and industrial stereolithography, accounted for over 37.5% of company revenue by the end of 2025, according to its own estimates. It is the main growth driver the company is pursuing.

    Prototyping and core systems

    FDM and PolyJet printers, together with the GrabCAD software and related consumables, support traditional prototype and model sales as well as recurring consumables revenue.

    Dental and healthcare

    The company offers printers, biocompatible materials and anatomical models for surgical planning, particularly in dental and medical applications, and supports several materials validated for biocompatible uses.

    Market context

    The 3D printing market is gradually shifting from prototyping toward direct production of parts, which could widen the company's addressable market. However, customers' capital spending remains sensitive to inflation and high interest rates, which lengthens sales cycles.

    Macroeconomic pressure is visible in recent results: revenue slipped slightly in 2025, which the company links to customer budget pressure. If inflation eases and the economy remains stable, the company expects product revenue to recover.

    Trends

    • Shift from prototyping to productiontailwind

      Additive manufacturing of end-use parts and series production could open a larger market than prototyping, especially in aerospace, automotive and dentistry.

    • High interest rates and inflationheadwind

      More expensive financing has slowed customer investment budgets and lengthened sales cycles, which reduced product revenue.

    • Import tariffsheadwind

      New US tariffs could increase the cost of finished goods the company buys, weighing on gross margins and demand in affected industries.

    • Consolidation and acquisitions in the industrymixed

      Capital brought by the PIPE transaction could fund acquisitions in 3D printing, but integrating acquired businesses remains an execution risk.

    Competitive position

    The company competes with several makers of industrial and desktop 3D printers, and its network of over 140 resellers is an advantage but not an absolute barrier. New technologies and consolidation among competitors could reduce the company's market share.

    In desktop printing the company holds a stake in Ultimaker following its 2022 transaction, and in production it relies on its own P3 and SAF platforms. Patent expirations could allow new competitors to offer similar consumables and printers.

    • Ultimaker

      Company formed from the merger of MakerBot and Ultimaker, in which Stratasys holds a stake, active in the desktop 3D printing segment.

    • Xaar 3D

      UK company whose powder-based SAF technology was integrated by Stratasys after it acquired the remaining shares.

    • Nexa3D

      Company whose assets, including its IP portfolio and high-speed resin printers, were acquired by Stratasys in June 2025.

    • Forward AM Technologies

      Former prominent additive manufacturing materials brand whose assets were acquired by Stratasys in May 2025.

    News & filings

    Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.