3D printer manufacturer and provider Stratasys (NASDAQ:SSYS), has released financial results for Q1 2017. Revenue is down to $163.2 million, compared to $167.9 million for the same period in 2016. Of that total, consumable revenue has increased by 7% on Q1 of the previous year.
Total operating expenses for Q1 are down overall to $89.5 million, giving over a $13 million difference when compared to the same period in 2016 ($102.2 million). GAAP operating loss for the quarter is at $12.6 million, compared to $21.1 million.
In a statement on the first quarter’s report Ilan Levin, CEO, comments,
We remain encouraged by our performance within our key vertical markets during the first quarter, driven by our initiatives to drive customer engagement. In addition, we believe that strong utilization of our installed base of systems was demonstrated by steady growth in consumables and customer support revenue during the period, while improved focus resulted in reductions in our operating expenses.
Metal additive, aerospace and automotive highlights
Business highlights for the start of 2017 include a strengthening of metal additive manufacturing capabilities through a strategic investment in aerospace SIA Engineering Company Limited, and a $25 million investment in the UK’s LPW Technology, a metal powder producer. 2017 has also seen the introduction of Stratasys’s F123 series of FDM 3D printers, though reporting of sales has yet to begin in earnest.
In addition, Siemens Mobility is using Stratasys FDM technology to 3D print parts for German transport services provider Stadtwerke Ulm/Neu Ulm (SWU) Verkehr GmbH, and McLaren Racing has expanded its line of race-ready 3D printed parts for Formula 1.
For “deeper customer engagement”
In relation to these projects, Levin comments,
We are pleased with the progress we are making in developing applications that are driven by the specific needs of our customers. We believe that this deeper customer engagement will help us to provide significant value and grow the adoption our products and services.
At RAPID + TCT Stratasys also introduced a new demonstrator system, the Continuous Build 3D, aimed at series production of FDM objects.
The Consolidated Statements of Operations can be viewed below. Stratasys’s full report for Q1 2017 can be read here in the company’s investor relations segment.
Featured image: The Stratasys Continuous Build 3D Demonstrator at RAPID + TCT 2017. Photo by Michael Petch