Stratasys Ltd 6-K, filed Nov 12, 2026
Stratasys Ltd. (SSYS)
6-K
2026-11-12
For: 2026-09-30
View Original
Added on
November 12, 2026
About this 6-K
Stratasys Ltd filed this 6-K on November 12, 2026.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
For the month of November 2026
Commission File Number 001-35751
STRATASYS LTD.
(Translation of registrant’s name into English)
| c/o Stratasys, Inc. 5995 Opus Parkway Minnetonka, Minnesota 55343 | 1 Holtzman Street, Science Park P.O. Box 2496 Rehovot, Israel 76124 | |||||||
| (Addresses of principal executive offices) | ||||||||
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F ☐
CONTENTS
Quarterly Results of Operations
On November 12, 2026, Stratasys Ltd. (“Stratasys”, “we” or “us”) announced its financial results for the third quarter ended September 30, 2026. A copy of our press release announcing our results is furnished as Exhibit 99.1 to this Report of Foreign Private Issuer on Form 6-K (this “Form 6-K”) and is incorporated herein by reference.
In conjunction with the conference call being held on November 12, 2026 to discuss our results, we are furnishing a copy of the slide presentation that provides supplemental information regarding our business and our financial results, and which will be referenced on that conference call. We have attached that presentation as Exhibit 99.2 to this Form 6-K, which exhibit is incorporated herein by reference.
The information in this Form 6-K, including Exhibits 99.1 and 99.2, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
Exhibits
The following exhibits are furnished as part of this Form 6-K:
| Exhibit | Description | |||||||
| 99.1 | ||||||||
| 99.2 | ||||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| STRATASYS LTD. | ||||||||
Dated: November 12, 2026 | By: | /s/ Eitan Zamir | ||||||
| Name: | Eitan Zamir | |||||||
| Title: | Chief Financial Officer | |||||||
Exhibit 99.1
Stratasys Releases Third Quarter 2026 Financial Results
•Revenue of $142.6 million, up 4.1% compared to $137.0 million in the prior year period; up 3.6% sequentially from $137.6 million in the second quarter 2026
•Revenue in Aerospace and Defense, the largest business, grew over 35% compared to the prior year, and approximately 25% sequentially compared to second quarter 2026
•Systems revenue of $35.9 million, up approximately 12% compared to $32.1 million in the prior year period
•GAAP net loss of $10.2 million, or ($0.12) per diluted share, and non-GAAP net income of $3.5 million, or $0.04 per diluted share
•Adjusted EBITDA of $8.0 million, compared to $5.0 million in the prior year period
•Positive operating cash flow of $3.5 million
•$210.7 million in cash, equivalents and short-term deposits and no debt at September 30, 2026
•Updates full-year 2026 guidance
MINNETONKA, Minn. & REHOVOT, Israel - (BUSINESS WIRE) – November 12, 2026 - Stratasys Ltd. (Nasdaq: SSYS), (“Stratasys” or the “Company”), a leader in polymer 3D printing solutions, today announced its financial results for the third quarter ended September 30, 2026.
“Our third quarter results reflect the successful ongoing shift from rapid prototyping to manufacturing, as reflected in the 4.1% growth year over year, supported by disciplined expense management,” said Dr. Yoav Zeif, CEO of Stratasys. “Our largest business, aerospace and defense, grew more than 35% year-over-year, in addition to growth in our automotive, dental and Stratasys Direct businesses. We continue to experience robust customer engagement across our pipeline as we navigate longer and more variable timelines for large, production-focused awards, which we have factored into our updated outlook. Demand for industrial additive manufacturing is increasingly structural, driven by megatrends such as onshoring, speed, cost and the need for resilient supply chains. With our debt-free balance sheet and strong cash position, we are poised to keep investing in our strategy to create long-term value for all stakeholders.”
Summary - Third Quarter 2026 Financial Results Compared to Third Quarter 2025:
•Revenue of $142.6 million up 4.1% compared to $137.0 million, and a 3.6% sequential increase from $137.6 million in the second quarter of 2026.
•GAAP gross margin of 43.7%, compared to 41.0%.
•Non-GAAP gross margin of 47.8%, compared to 45.3% primarily due to improved margins in the mix of systems sales and a tariff credit, partially offset by lower consumables revenue.
•GAAP operating loss of $11.0 million, compared to GAAP operating loss of $22.7 million.
•Non-GAAP operating income of $2.7 million, compared to $0.1 million.
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•GAAP net loss of $10.2 million, or ($0.12) per diluted share, compared to net loss of $55.6 million, or ($0.65) per diluted share, which included a non-cash impairment of $33.9 million, or $0.40 per diluted share, related to Ultimaker investment.
•Non-GAAP net income of $3.5 million, or $0.04 per diluted share, compared to $1.5 million, or $0.02 per diluted share.
•Adjusted EBITDA of $8.0 million, compared to $5.0 million.
•Cash generated by operations of $3.5 million, compared to $6.9 million.
Financial Outlook:
The Company is adjusting its outlook for full year 2026. This outlook is based on current market conditions and assumes that the impacts of global inflationary pressures, relatively high interest rates, tariffs, exchange rates and other supply chain costs do not further impede economic activity. The specific metrics include adjustments that reflect longer sales cycles and greater variability in timing associated with larger, production-focused orders:
•Full year revenue of $556 million to $561 million, compared to the prior range of $565 million to $575 million, representing sequential improvement during the year.
•Full year non-GAAP gross margins of 46.6% to 46.7%, compared to prior range of 46.7% to 47.1%.
•Full year non-GAAP operating expenses ranging from $256 million to $257 million, compared to prior range of $260 million to $262 million.
•Full year non-GAAP operating margins in a range of 0.6% to 0.9%, compared to prior range of 0.7% to 1.5%.
•GAAP net loss of $77 million to $64 million, or ($0.88) to ($0.73) per diluted share, compared to prior range of $83 million to $67 million, or ($0.95) to ($0.76) per diluted share.
•Non-GAAP net income of $9 million to $11 million, or $0.10 to $0.12 per diluted share, compared to prior range of $8 million to $12.5 million, or $0.09 to $0.14 per diluted share.
•Adjusted EBITDA of $24 million to $26 million, with Adjusted EBITDA margin of 4.0% to 4.5%, compared to prior range of $25 million to $30 million, with Adjusted EBITDA margin of 4.5% to 5.0%.
•Capital expenditures of $15 million to $20 million.
Appropriate reconciliations between historical GAAP and non-GAAP financial measures, as well as between the GAAP and non-GAAP financial measures included in our updated financial outlook for 2026, are provided in the tables at the end of this press release and slide presentation, with itemized detail concerning the non-GAAP financial measures. We have not included, however, guidance for 2026 for GAAP gross margin or GAAP operating expenses, or a reconciliation of our guidance for 2026 for non-GAAP gross margins or non-GAAP operating expenses to the most directly comparable GAAP financial measures (i.e., GAAP gross margin and GAAP operating expenses, respectively), as the
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information needed to provide that GAAP guidance and that reconciliation is not available to us without unreasonable effort or with reasonable certainty from a quantitative perspective. We expect that the foregoing missing information related to our outlook on a GAAP basis for 2026 is likely to result in significant changes relative to our non-GAAP outlook in respect of the subject financial measures.
Stratasys Ltd. Third Quarter 2026 Webcast and Conference Call Details
The Company plans to webcast its conference call to discuss its third quarter 2026 financial results on Thursday, November 12, 2026, at 8:30 AM ET.
The investor conference call will be available via live webcast on the Stratasys Web site at investors.stratasys.com, or directly at the following web address:
https://event.choruscall.com/mediaframe/webcast.html?webcastid=0uO1fT80
To participate by telephone, the U.S. toll-free number is 877-407-0619 and the international dial-in is +1-412-902-1012. Investors are advised to dial into the call at least ten minutes prior to the call to register. The webcast will be available for six months at investors.stratasys.com, or by accessing the above-provided web address.
Stratasys is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries such as aerospace, automotive, consumer products, healthcare, fashion and education. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage in the product value chain. The world’s leading organizations turn to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.
To learn more about Stratasys, visit www.stratasys.com, the Stratasys blog, Twitter, LinkedIn, or Facebook. Stratasys reserves the right to utilize any of the foregoing social media platforms, including the Company’s websites, to share material, non-public information pursuant to the SEC’s Regulation FD. To the extent necessary and mandated by applicable law, Stratasys will also include such information in its public disclosure filings.
Stratasys is a registered trademark and the Stratasys signet is a trademark of Stratasys Ltd. and/or its subsidiaries or affiliates. All other trademarks are the property of their respective owners.
Cautionary Statement Regarding Forward-Looking Statements
The statements in this press release regarding Stratasys' strategy, and the statements regarding its projected future financial performance, including the financial guidance concerning its expected results for 2026, are forward-looking statements reflecting management's current expectations and beliefs. These forward-looking statements are based on current information that is, by its nature, subject to rapid and even abrupt change. Due to risks and uncertainties associated with Stratasys' business, actual results could differ materially from those projected or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: the extent of our success at introducing new or improved products and solutions that gain market share; the extent of growth of the 3D printing market generally; the global macro-economic environment, including the impact of higher energy costs due to the U.S.-Iranian conflict; global trends involving inflation, interest rates, economic activity and currency exchange rates, and their impact on the additive manufacturing industry, our company and our customers, in particular; changes in our overall strategy, including as related to any restructuring activities and our capital expenditures; the impact of potential shifts in the prices or margins of the products that we sell or services that we provide, including due to a shift towards lower margin products or services; the impact of competition and new technologies; potential further charges against earnings that we could be required to take due to impairment of additional goodwill or other intangible assets;
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the extent of our success at successfully consummating and integrating into our existing business acquisitions or investments in new businesses, technologies, products or services; the potential adverse impact of global interruptions and delays involving freight carriers and other third parties on our supply chain and distribution network; global market, political and economic conditions, and in the countries in which we operate in particular; potential adverse effects of any renewed military conflict between the United States and Israel, on the one hand, and Iran and its sponsored terrorist organizations Hamas, Hezbollah, and, intermittently, the Houthi terrorist group in Yemen, on the other hand; costs and potential liability relating to litigation and regulatory proceedings; risks related to infringement of our intellectual property rights by others or infringement of others' intellectual property rights by us; the extent of our success at maintaining our liquidity and financing our operations and capital needs; the impact of tax regulations on our results of operations and financial condition; and those additional factors referred to in Item 3.D “Key Information - Risk Factors”, Item 4, “Information on the Company”, Item 5, “Operating and Financial Review and Prospects,” and all other parts of our Annual Report on Form 20-F for the year ended December 31, 2025, which we filed with the U.S. Securities and Exchange Commission, or SEC, on March 5, 2026 (the “2025 Annual Report”). Readers are urged to carefully review and consider the various disclosures made throughout our 2025 Annual Report and the Reports of Foreign Private Issuer on Form 6-K that attach Stratasys’ unaudited, condensed consolidated financial statements and its review of its results of operations and financial condition, for the quarterly periods throughout 2026, which have been or will be furnished to the SEC throughout 2026, and our other reports filed with or furnished to the SEC, which are designed to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations and prospects. Any guidance provided, and other forward-looking statements made, in this press release are provided or made (as applicable) as of the date hereof, and Stratasys undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Use of Non-GAAP Financial Measures
The non-GAAP data included herein, including, but not limited to, data for non-GAAP gross margins, non-GAAP operating expenses, non-GAAP operating income, non-GAAP operating margins, non-GAAP net income, and Adjusted EBITDA, which non-GAAP data excludes certain items, as detailed in the reconciliation tables herein (except for such data related to our outlook for 2026 for which we are unable to provide data for the excluded items), are non-GAAP financial measures. Our management believes that these non-GAAP financial measures are useful information for investors and shareholders of our company in gauging our results of operations. Our management utilizes these non-GAAP measures to enable us to assess our financial results (i) on an ongoing basis after excluding mergers, acquisitions and divestments related expense or gains and reorganization-related charges or gains and legal provisions, (ii) excluding non-cash items such as share-based compensation expenses, acquired intangible assets amortization, including intangible assets amortization related to equity method investments, impairment of long-lived assets and goodwill, revaluation of our investments and the corresponding tax effect of those items, (iii) for certain non-GAAP measures, after eliminating the impact of changes attributable to currency exchange rate fluctuations, and (iv) after excluding changes in revenues solely attributable to divestitures of former subsidiary companies. The items eliminated as part of our calculation of our non-GAAP financial measures either do not reflect actual cash outlays that impact our liquidity and our financial condition or have a non-recurring impact on the statement of operations, as assessed by management. Our non-GAAP financial measures are presented to permit investors to more fully understand how management assesses our performance for internal planning and forecasting purposes. The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of our results of operations without including all items indicated above during a reporting period, which may not provide a comparable view of our performance relative
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to other companies in our industry. Investors and other readers should consider non-GAAP measures only as supplements to, not as substitutes for or as superior measures to, the measures of financial performance prepared in accordance with GAAP. Reconciliation between results, and between certain items for our outlook for 2026, on a GAAP and non-GAAP basis is provided in the tables below.
Yonah Lloyd
CCO & VP Investor Relations
Yonah.Lloyd@stratasys.com
Source: Stratasys Ltd.
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Stratasys Ltd.
| Consolidated Balance Sheets | ||||||||||||||
| (U.S. $ in thousands, except share data) | ||||||||||||||
| (Unaudited) | ||||||||||||||
| September 30, 2026 | December 31, 2025 | |||||||||||||
| ASSETS | ||||||||||||||
| Current assets | ||||||||||||||
| Cash and cash equivalents | $ | 130,719 | $ | 94,527 | ||||||||||
Short-term bank deposits | 80,000 | 150,000 | ||||||||||||
| Accounts receivable, net of allowance for credit losses of $4,398 and $4,145 as of September 30, 2026 and December 31, 2025, respectively | 169,119 | 160,478 | ||||||||||||
| Inventories | 142,907 | 145,238 | ||||||||||||
| Prepaid expenses | 10,577 | 5,500 | ||||||||||||
| Other current assets | 26,223 | 26,241 | ||||||||||||
| Total current assets | 559,545 | 581,984 | ||||||||||||
| Non-current assets | ||||||||||||||
| Property, plant and equipment, net | 189,424 | 192,566 | ||||||||||||
| Goodwill | 100,223 | 101,599 | ||||||||||||
| Other intangible assets, net | 80,293 | 95,842 | ||||||||||||
| Operating lease right-of-use assets | 24,995 | 25,417 | ||||||||||||
| Long-term investments | 78,368 | 63,104 | ||||||||||||
| Other non-current assets | 15,137 | 13,252 | ||||||||||||
| Total non-current assets | 488,440 | 491,780 | ||||||||||||
| Total assets | $ | 1,047,985 | $ | 1,073,764 | ||||||||||
| LIABILITIES AND EQUITY | ||||||||||||||
| Current liabilities | ||||||||||||||
| Accounts payable | $ | 48,992 | $ | 43,021 | ||||||||||
| Accrued expenses and other current liabilities | 24,407 | 34,284 | ||||||||||||
| Accrued compensation and related benefits | 35,546 | 31,304 | ||||||||||||
Deferred revenues - short-term | 48,212 | 47,835 | ||||||||||||
Operating lease liabilities - short-term | 6,489 | 6,597 | ||||||||||||
| Total current liabilities | 163,646 | 163,041 | ||||||||||||
| Non-current liabilities | ||||||||||||||
| Deferred revenues - long-term | 16,899 | 19,062 | ||||||||||||
| Deferred income taxes | 286 | 312 | ||||||||||||
Operating lease liabilities - long-term | 19,832 | 19,903 | ||||||||||||
Contingent consideration - long-term | 5,490 | 5,353 | ||||||||||||
| Other non-current liabilities | 29,332 | 23,193 | ||||||||||||
| Total non-current liabilities | 71,839 | 67,823 | ||||||||||||
| Total liabilities | $ | 235,485 | $ | 230,864 | ||||||||||
| Contingencies (see note 12) | ||||||||||||||
| Equity | ||||||||||||||
| Ordinary shares, NIS 0.01 par value, authorized 180,000 thousand shares; 88,358 thousand shares and 86,376 thousand shares issued at September 30, 2026 and December 31, 2025, respectively; 88,091 thousand shares and 86,110 thousand shares outstanding at September 30, 2026 and December 31, 2025, respectively | $ | 248 | $ | 242 | ||||||||||
| Treasury shares at cost, 266 thousand shares at September 30, 2026 and December 31, 2025 | (1,995) | (1,995) | ||||||||||||
| Additional paid-in capital | 3,295,815 | 3,275,344 | ||||||||||||
| Accumulated other comprehensive loss | (6,174) | (6,197) | ||||||||||||
| Accumulated deficit | (2,475,394) | (2,424,494) | ||||||||||||
| Total equity | 812,500 | 842,900 | ||||||||||||
| Total liabilities and equity | $ | 1,047,985 | $ | 1,073,764 | ||||||||||
Stratasys Ltd.
Consolidated Statements of Operations | ||||||||||||||||||||||||||
(U.S. $ in thousands, except per share data) | Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||
| (Unaudited) | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||||
| Revenues | ||||||||||||||||||||||||||
| Products | $ | 97,109 | $ | 94,061 | $ | 278,601 | $ | 282,647 | ||||||||||||||||||
| Services | 45,531 | 42,909 | 134,342 | 128,455 | ||||||||||||||||||||||
| 142,640 | 136,970 | 412,943 | 411,102 | |||||||||||||||||||||||
| Cost of revenues | ||||||||||||||||||||||||||
| Products | 48,775 | 49,808 | 143,357 | 145,693 | ||||||||||||||||||||||
| Services | 31,539 | 31,070 | 93,661 | 89,584 | ||||||||||||||||||||||
| 80,314 | 80,878 | 237,018 | 235,277 | |||||||||||||||||||||||
| Gross profit | 62,326 | 56,092 | 175,925 | 175,825 | ||||||||||||||||||||||
| Operating expenses | ||||||||||||||||||||||||||
| Research and development, net | 20,185 | 20,561 | 58,797 | 59,274 | ||||||||||||||||||||||
| Selling, general and administrative | 53,153 | 58,235 | 168,139 | 168,279 | ||||||||||||||||||||||
| 73,338 | 78,796 | 226,936 | 227,553 | |||||||||||||||||||||||
| Operating loss | (11,012) | (22,704) | (51,011) | (51,728) | ||||||||||||||||||||||
Financial income, net | 1,120 | 2,656 | 7,137 | 7,415 | ||||||||||||||||||||||
| Loss before income taxes | (9,892) | (20,048) | (43,874) | (44,313) | ||||||||||||||||||||||
Income tax expenses | 318 | 524 | 7,026 | 2,020 | ||||||||||||||||||||||
Share in losses of associated companies and impairment charges | — | 35,062 | — | 39,100 | ||||||||||||||||||||||
| Net loss | $ | (10,210) | $ | (55,634) | $ | (50,900) | $ | (85,433) | ||||||||||||||||||
Net loss per ordinary share - basic and diluted | $ | (0.12) | $ | (0.65) | $ | (0.58) | $ | (1.06) | ||||||||||||||||||
Weighted average ordinary shares outstanding - basic and diluted | 87,732 | 85,151 | 87,063 | 80,230 | ||||||||||||||||||||||
Stratasys Ltd.
| Reconciliation of GAAP to Non-GAAP Results of Operations | |||||||||||||||||||||||
| Three Months Ended September 30, | |||||||||||||||||||||||
| 2026 | Non-GAAP | 2026 | 2025 | Non-GAAP | 2025 | ||||||||||||||||||
| GAAP | Adjustments | Non-GAAP | GAAP | Adjustments | Non-GAAP | ||||||||||||||||||
| U.S. dollars and shares in thousands (except per share amounts) | |||||||||||||||||||||||
| Gross profit (1) | $ | 62,326 | $ | 5,908 | $ | 68,234 | $ | 56,092 | $ | 5,971 | $ | 62,063 | |||||||||||
| Operating income (loss) (1,2) | (11,012) | 13,716 | 2,704 | (22,704) | 22,781 | 77 | |||||||||||||||||
| Net income (loss) (1,2,3) | (10,210) | 13,683 | 3,473 | (55,634) | 57,109 | 1,475 | |||||||||||||||||
| Net income (loss) per diluted share (4) | $ | (0.12) | $ | 0.16 | $ | 0.04 | $ | (0.65) | $ | 0.67 | $ | 0.02 | |||||||||||
(1) | Acquired intangible assets amortization expenses | 4,521 | 4,526 | ||||||||||||||||||||
| Non-cash share-based compensation expenses | 743 | 819 | |||||||||||||||||||||
| Restructuring and other expenses | 644 | 626 | |||||||||||||||||||||
| 5,908 | 5,971 | ||||||||||||||||||||||
(2) | Acquired intangible assets amortization expenses | 1,173 | 1,068 | ||||||||||||||||||||
| Non-cash share-based compensation expenses | 4,990 | 4,816 | |||||||||||||||||||||
| Restructuring and other related costs | 1,424 | 2,639 | |||||||||||||||||||||
| Revaluation of investment | — | 2,208 | |||||||||||||||||||||
| Contingent consideration | 151 | — | |||||||||||||||||||||
| Legal and other expenses | 70 | 6,079 | |||||||||||||||||||||
| 7,808 | 16,810 | ||||||||||||||||||||||
| 13,716 | 22,781 | ||||||||||||||||||||||
(3) | Corresponding tax effect | 156 | 191 | ||||||||||||||||||||
Equity method related expenses and impairment charges | — | 34,337 | |||||||||||||||||||||
Finance income | (189) | (200) | |||||||||||||||||||||
| $ | 13,683 | $ | 57,109 | ||||||||||||||||||||
(4) | Weighted average number of ordinary shares outstanding - Diluted | 87,732 | 88,135 | 85,151 | 86,000 | ||||||||||||||||||
Stratasys Ltd.
| Nine Months Ended September 30, | |||||||||||||||||||||||
| 2026 | Non-GAAP | 2026 | 2025 | Non-GAAP | 2025 | ||||||||||||||||||
| GAAP | Adjustments | Non-GAAP | GAAP | Adjustments | Non-GAAP | ||||||||||||||||||
U.S. dollars and shares in thousands (except per share amounts) | |||||||||||||||||||||||
| Gross profit (1) | $ | 175,925 | $ | 18,659 | $ | 194,584 | $ | 175,825 | $ | 17,704 | $ | 193,529 | |||||||||||
Operating income (loss) (1,2) | (51,011) | 50,628 | (383) | (51,728) | 55,967 | 4,239 | |||||||||||||||||
Net income (loss) (1,2,3) | (50,900) | 55,362 | 4,462 | (85,433) | 91,966 | 6,533 | |||||||||||||||||
Net income (loss) per diluted share (4) | $ | (0.58) | $ | 0.63 | $ | 0.05 | $ | (1.06) | $ | 1.14 | $ | 0.08 | |||||||||||
| (1) | Acquired intangible assets amortization expenses | 13,564 | 13,531 | ||||||||||||||||||||
Non-cash share-based compensation expenses | 2,192 | 2,273 | |||||||||||||||||||||
Restructuring and other expenses | 2,903 | 1,900 | |||||||||||||||||||||
| 18,659 | 17,704 | ||||||||||||||||||||||
| (2) | Acquired intangible assets amortization expenses | 3,561 | 2,923 | ||||||||||||||||||||
Non-cash share-based compensation expenses | 15,042 | 15,713 | |||||||||||||||||||||
Restructuring and other related costs | 3,022 | 4,231 | |||||||||||||||||||||
Revaluation of investment | — | 2,208 | |||||||||||||||||||||
| Contingent consideration | (3,580) | 1,288 | |||||||||||||||||||||
| Legal and other expenses | 13,924 | 11,900 | |||||||||||||||||||||
| 31,969 | 38,263 | ||||||||||||||||||||||
| 50,628 | 55,967 | ||||||||||||||||||||||
| (3) | Corresponding tax effect | 5,915 | 457 | ||||||||||||||||||||
Equity method related expenses and impairment charges | — | 36,245 | |||||||||||||||||||||
Finance income | (1,181) | (703) | |||||||||||||||||||||
| $ | 55,362 | $ | 91,966 | ||||||||||||||||||||
| (4) | Weighted average number of ordinary shares outstanding - Diluted | 87,063 | 87,589 | 80,230 | 80,951 | ||||||||||||||||||
Stratasys Ltd.
| Reconciliation of GAAP net loss to Adjusted EBITDA | |||||||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
U.S. $ in thousands | U.S. $ in thousands | ||||||||||||||||||||||
| Net loss | $ | (10,210) | $ | (55,634) | $ | (50,900) | $ | (85,433) | |||||||||||||||
Financial income, net | (1,120) | (2,656) | (7,137) | (7,415) | |||||||||||||||||||
| Income tax expenses | 318 | 524 | 7,026 | 2,020 | |||||||||||||||||||
Share in losses of associated companies and impairment charges | — | 35,062 | — | 39,100 | |||||||||||||||||||
Depreciation expenses | 5,443 | 5,085 | 16,492 | 15,548 | |||||||||||||||||||
Amortization expenses | 5,701 | 5,602 | 17,149 | 16,481 | |||||||||||||||||||
Non-cash share-based compensation expenses | 5,733 | 5,635 | 17,234 | 17,986 | |||||||||||||||||||
| Contingent consideration | 151 | — | (3,580) | 1,288 | |||||||||||||||||||
| Legal and other expenses | 438 | 6,466 | 14,522 | 12,020 | |||||||||||||||||||
Restructuring and other related costs | 1,594 | 2,752 | 4,563 | 5,540 | |||||||||||||||||||
| Adjusted EBITDA | $ | 8,048 | $ | 5,044 | $ | 15,369 | $ | 19,343 | |||||||||||||||
Stratasys Ltd.
| Reconciliation of GAAP Net Loss to Non-GAAP Net Income Forward Looking Guidance: | |||||||||||||||||
Fiscal Year 2026 | |||||||||||||||||
| (U.S. $ in millions, except per share data) | Low | High | |||||||||||||||
| GAAP net loss | $(77) | to | $(64) | ||||||||||||||
| Adjustments | |||||||||||||||||
Share-based compensation expenses | $24 | to | $26 | ||||||||||||||
Intangible assets amortization expenses | $23 | to | $25 | ||||||||||||||
Reorganization and other | $22 | to | $28 | ||||||||||||||
Tax expenses related to Non-GAAP adjustments | $6 | to | $7 | ||||||||||||||
| Non-GAAP net income | $9 | to | $11 | ||||||||||||||
| GAAP loss per share | $(0.88) | to | $(0.73) | ||||||||||||||
| Non-GAAP diluted earnings per share | $0.10 | to | $0.12 | ||||||||||||||
| Reconciliation of GAAP Net Loss to Adjusted EBITDA Forward Looking Guidance: | |||||||||||||||||
Fiscal Year 2026 | |||||||||||||||||
| (U.S. $ in millions, except per share data) | Low | High | |||||||||||||||
| GAAP net loss | $(77) | to | $(64) | ||||||||||||||
| Adjustments | |||||||||||||||||
Share-based compensation expenses | $24 | to | $26 | ||||||||||||||
Intangible assets amortization expenses | $23 | to | $25 | ||||||||||||||
Reorganization and other | $22 | to | $28 | ||||||||||||||
Tax expenses related to Non-GAAP adjustments | $6 | to | $7 | ||||||||||||||
Other non-operating income | $(6) | to | $(6) | ||||||||||||||
| Depreciation | $21 | to | $21 | ||||||||||||||
| Adjusted EBITDA | $24 | to | $26 | ||||||||||||||
Stratasys Ltd.
| Reconciliation of GAAP Operating Loss to Non-GAAP Operating Income Forward Looking Guidance: | |||||||||||||||||
Fiscal Year 2026 | |||||||||||||||||
| (U.S. $ in millions, except per share data) | Low | High | |||||||||||||||
| GAAP operating loss | $(76) | to | $(64) | ||||||||||||||
| GAAP operating margins | (14)% | to | (11)% | ||||||||||||||
| Adjustments | |||||||||||||||||
Share-based compensation expenses | $24 | to | $26 | ||||||||||||||
Intangible assets amortization expenses | $23 | to | $25 | ||||||||||||||
| Reorganization and other | $22 | to | $28 | ||||||||||||||
| Non-GAAP operating profit | $3 | to | $5 | ||||||||||||||
| Non-GAAP operating margins | 0.6% | to | 0.9% | ||||||||||||||
Make additive work for you Q3 2026 Results Speakers Dr. Yoav Zeif, CEO Eitan Zamir, CFO Yonah Lloyd, CCO & VP IR November 12 | 2026
Make additive work for you Live Webcast and Replay CONFERENCE CALL AND WEBCAST LINK US Toll-Free Dial-In 1-877-407-0619 International Dial-In +1-412-902-1012
Make additive work for you Forward-Looking Statements The statements in this slide presentation regarding Stratasys' strategy and its projected future financial performance, including the financial guidance concerning its expected results for 2026, are forward-looking statements reflecting management's current expectations and beliefs. These forward-looking statements are based on current information that is, by its nature, subject to rapid and even abrupt change. Due to risks and uncertainties associated with Stratasys' business, actual results could differ materially from those projected or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: the extent of our success at introducing new or improved products and solutions that gain market share; the extent of growth of the 3D printing market generally; the global macro-economic environment, including global trends involving inflation, interest rates, economic activity, currency exchange rates, and increased energy costs, and their impact on the additive manufacturing industry, our company and our customers, in particular; changes in our overall strategy, including as related to any restructuring activities and our capital expenditures; the impact of potential shifts in the prices or margins of the products that we sell or services that we provide, including due to a shift towards lower margin products or services; the impact of competition and new technologies; potential further charges against earnings that we could be required to take due to impairment of additional goodwill or other intangible assets; the extent of our success at successfully consummating and integrating into our existing business acquisitions or investments in new businesses, technologies, products or services; the potential adverse impact of global interruptions and delays involving freight carriers and other third parties on our supply chain and distribution network; global market, political and economic conditions, and in the countries in which we operate in particular; potential adverse effects of any renewed military conflict between the United States and Israel, on the one hand, and Iran and/or its sponsored terrorist organizations Hamas, Hezbollah, and, intermittently, the Houthis, on the other hand; costs and potential liability relating to litigation and regulatory proceedings; risks related to infringement of our intellectual property rights by others or infringement of others' intellectual property rights by us; the extent of our success at maintaining our liquidity and financing our operations and capital needs; the impact of tax regulations on our results of operations and financial condition; and those additional factors referred to in Item 3.D “Key Information - Risk Factors”, Item 4, “Information on the Company”, Item 5, “Operating and Financial Review and Prospects,” and all other parts of our Annual Report on Form 20-F for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission, or SEC, on March 5, 2026 (the “2025 Annual Report”). Readers are urged to carefully review and consider the various disclosures made throughout our 2025 Annual Report and the Reports of Foreign Private Issuer on Form 6-K that attach Stratasys’ unaudited, condensed consolidated financial statements and its review of its results of operations and financial condition, for the quarterly periods throughout 2026, which have been or will be furnished to the SEC throughout 2026, and our other reports filed with or furnished to the SEC, which are designed to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations and prospects. Any guidance provided, and other forward-looking statements made, in this slide presentation are provided or made (as applicable) as of the date hereof, and Stratasys undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Cautionary Note Regarding Forward-Looking Statements
Make additive work for you Use of Non-GAAP Financial Information The non-GAAP data included herein, which excludes certain items as described below, are non-GAAP financial measures. Our management believes that these non-GAAP financial measures are useful information for investors and shareholders of our company in gauging our results of operations. Our management utilizes these non-GAAP measures to enable us to assess our financial results (i) on an ongoing basis after excluding mergers, acquisitions and divestments related expense or gains and reorganization-related charges or gains and legal provisions, (ii) excluding non-cash items such as share- based compensation expenses, acquired intangible assets amortization, including intangible assets amortization related to equity method investments, impairment of long-lived assets and goodwill, revaluation of our investments and the corresponding tax effect of those items, (iii) for certain non-GAAP measures, after eliminating the impact of changes attributable to currency exchange rate fluctuations, and (iv) after excluding changes in revenues solely attributable to divestitures of former subsidiary companies. The items eliminated as part of our calculation of our non-GAAP financial measures either do not reflect actual cash outlays that impact our liquidity and our financial condition or have a non-recurring impact on the statement of operations, as assessed by management. Our non-GAAP financial measures are presented to permit investors to more fully understand how management assesses our performance for internal planning and forecasting purposes. The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of our results of operations without including all items indicated above during a reporting period, which may not provide a comparable view of our performance relative to other companies in our industry. Investors and other readers should consider non-GAAP measures only as supplements to, not as substitutes for or as superior measures to, the measures of financial performance prepared in accordance with GAAP. Reconciliation between results on a GAAP and non-GAAP basis is provided in the tables later in this slide presentation. We have not included herein, however, a reconciliation of our non-GAAP guidance for 2026 to the most directly comparable GAAP guidance. Please see our earnings release being published today for that reconciliation (other than for our guidance for non- GAAP gross margin, non-GAAP operating expenses, and non-GAAP operating margins, as we are unable to obtain the information needed to provide either the equivalent GAAP figures (projected GAAP gross margin, projected GAAP operating expenses and projected GAAP operating margins) or the related reconciliation without unreasonable effort or with reasonable certainty from a quantitative perspective). Use of Non-GAAP Financial Measures
Make additive work for you Third quarter results reflect successful ongoing shift from rapid prototyping to manufacturing, as reflected in the 4.1% YoY growth Aerospace & Defense grew over 35% YoY Growth in Automotive, Dental and Stratasys Direct Generated positive operating cash flow Key benefits of onshoring/supply chain, speed, cost Shift to production driving recurring revenue Dr. Yoav Zeif CEO
Make additive work for you AEROSPACE & DEFENSE 35%+ YoY Revenue Growth Momentum Continuing • Two significant defense orders to continue scaling programs • Strong follow-on orders for embedded flight-grade production • Continued healthy demand across FDM portfolio in general Broad-Based Growth Across A&D Sub-Verticals • Drones, space, munitions, eVTOL/advanced air mobility • SAF replacing traditional supply chains for just-in-time bridge production Megatrends Translate into Durable, Structural Demand • High requirement programs result in larger orders with extended sales cycle and more time variability • Parts qualified on our platform are long-term given replacement complexity/cost • Mission-critical performance and accelerating supply chain resiliency mandates • Consistent growth, high engagement and demand • Significant opportunity to expand with both legacy users and startups • Welcome David Chinn, new BOD member with deep A&D experience
Make additive work for you AUTOMOTIVE – GM Scales Production Efficiency with Stratasys Challenge Improve legacy tooling and production with measurable results Solution AM Center of Excellence - dozens of SSYS industrial 3D printers across multiple plants enabling on-demand, localized production Impact for GM $10M annual savings from localized AM production 4× faster tooling response time improving plant efficiency Benefits of significant lightweighting improving worker safety Increased flexibility & adaptability through scalable distributed manufacturing 2026 – Over 5K factory floor applications GM consistently a top printer utilization customer in production - a reflection of the high quality of our materials which translates into recurring revenue Symbiotic “multi-win” relationship includes the consumer that gets a better produced vehicle Example: GM’s 3D-printed catalytic converter lift assist delivers 91% lower cost and 66% shorter lead time
Make additive work for you AUTOMOTIVE New F870 FDM System FAW Follow-on Purchases F870 Launch Factory-floor tooling, fixtures and end-use parts Longest heated build chamber in its class Toyota and Rivian among the first adopters FAW Group Agreement Leading Chinese OEM expanding to 25 Stratasys printers in 2026 Reflects high quality of systems and recurring nature of scaling after initial deployment Trend: Manufacturers are moving additive from prototyping to factory floor
Make additive work for you Robust Demand from Defense Sector Top customers driven by drone parts Synergies with Stratasys OEM business Helping customers move from application development -> qualification -> scaled production Strong Backlog for Expanding Applications Backlog higher than ever Shift from simple to complex parts Trusted one-stop-solution Planned large-scale AI automation US Onshoring addresses A&D capacity shortages Proves production capabilities for high requirement customers and then deliver manufacturing at scale at their facilities STRATASYS DIRECT – 9% Growth Driven by Aerospace and Defense
Make additive work for you DENTAL – Approval in India / DDS Collaboration India Approves TrueDent as Medical Device ~7M dentures produced in India each year Stratasys dentures significantly lower price Speed can remediate current 1-yr wait times DDS Launches Direct-to-Finish Partial Dentures Powered by TrueDent and a metal 3DP Digital, predictable, less processing = faster Exciting potential in coming years to be major growth driver Key partners Glidewell and Affordable Dentures
Make additive work for you COMMUNITY – Limbitless Expansion for Child Prosthetics University-based nonprofit uses Stratasys technology to bring 3D-printed prosthetic limbs to children Expanded partnership broadens reach with renewed focus on sustainability and education Same production-grade AM capabilities driving industry are improving human lives
Make additive work for you Third Quarter Results Reflect: Continued execution on our MFG-focused strategy Industrial focus areas A&D and Auto performed well A&D grew over 35% YoY, ~25% sequentially Eitan Zamir CFO
Make additive work for you Quarterly Trend 94.1 97.6 88.8 92.7 97.1 42.9 42.4 43.9 44.9 45.5 137.0 140.0 132.7 137.6 142.6 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Product Service Q3 2026 Revenue Note: $ in millions unless noted otherwise. All numbers and percentages rounded. Revenues – Q3’26 Revenue Y/Y Product - $97.1M 3.2% ▪ Systems - $35.9M 11.8% ▪ Consumables - $61.2M -1.3% Services - $45.5M 6.1% ▪ Customer Support - $30.5M 4.3%
Make additive work for you GAAP Non-GAAP 45.3% 46.3% 46.3% 47.2% 47.8% 52.4% 50.2% 53.8% 54.8% 55.2% 29.7% 37.4% 31.0% 31.4% 32.1% Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Services Gross MarginProducts Gross Margin Total Gross Margin Note: All percentages rounded. 47.0% 37.7% 47.5% 48.2% 49.7% 27.6% 34.5% 30.1% 30.1% 30.8% 41.0% 36.8% 41.7% 42.3% 43.7% Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Q3 2026 Gross Margins
Make additive work for you GAAP Operating Expenses (absolute and as a percentage of revenues) Non-GAAP Operating Expenses (absolute and as a percentage of revenues) 78.8 73.3 51.4% Q3'25 Q3'26 57.5% 62.0 65.5 Q3'25 Q3'26 45.9%45.3% Note: $ in millions unless noted otherwise. All numbers and percentages rounded. Q3 2026 Operating Expenses
Make additive work for you GAAP Operating Loss (22.7) Q3’25 (11.0) Q3’26 GAAP Net Loss EPS diluted ($0.65) in Q3’25 vs ($0.12) in Q3’26 (55.6) Q3’25 (10.2) Q3’26 Non-GAAP Operating Income 0.1% in Q3’25 vs 1.9% in Q3’26 out of total revenue 0.1 Q3’25 2.7 Q3’26 Non-GAAP Net Income EPS diluted $0.02 in Q3’25 vs $0.04 in Q3’26 1.5 Q3’25 3.5 Q3’26 Adjusted EBITDA 3.6% in Q3’25 vs 5.6% in Q3’26 out of total revenue 5.0 Q3’25 8.0 Q3’26 Note: $ in millions, except per share amounts unless noted otherwise. All numbers and percentages rounded. Q3 2026 Operating, Net and EBITDA
Make additive work for you Balance Sheet ItemsCash Flow from Operating Activities Strong Balance Sheet – $210.7M Cash, Equivalents and No Debt 17 Note: $ in millions unless noted otherwise. All numbers and percentages rounded. 6.9 3.5 Q3-25 Q3-26 Q3-25 Q4-25 Q3-26 Cash and Cash Equivalents and Short-term deposits 255.0 244.5 210.7 Accounts Receivable 151.3 160.5 169.1 Inventories 159.3 145.2 142.9 Net Working Capital 438.4 418.9 395.9
Make additive work for you Revenues Non-GAAP Operating Expenses Non-GAAP Operating Margins Adjusted Net Income Adjusted EPS diluted GAAP Net loss ($77M) - ($64M) GAAP EPS ($0.88) - ($0.73) CAPEX Adjusted EBITDA 4.0% - 4.5% of Revenue $556M – $561M 46.6% – 46.7% $256M – $257M $15M – $20M$24M – $26M0.6% – 0.9% Positive Operating Cash Flow for H2 2026 2026 Updated Full-Year Outlook $9M – $11M $0.10 – $0.12 Non-GAAP Gross Margins
Make additive work for you Dr. Yoav Zeif Summary Solid results and growth demonstrate progress of MFG-focused strategy Ongoing A&D momentum + flagship customer proof points reinforce structural demand Larger orders impact timing variability Q3 showed what production focused strategy can deliver Remain focused on strategy and confident in long- term path
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Make additive work for you Appendix – Comparison of Q3 2026 to Q3 2025 Key Metrics Note: $ in millions, except per share amounts unless noted otherwise. All numbers and percentages rounded. GAAP Non-GAAP Q3-25 Q3-26 Change Y/Y Q3-25 Q3-26 Change Y/Y Total Revenue 137.0 142.6 4.1% 137.0 142.6 4.1% Gross Profit 56.1 62.3 6.2 62.1 68.2 6.1 % Margin 41.0% 43.7% 2.7% 45.3% 47.8% 2.5% Operating Income (Loss) (22.7) (11.0) 11.7 0.1 2.7 2.6 % Margin -16.6% -7.7% 8.9% 0.1% 1.9% 1.8% Net Income (Loss) (55.6) (10.2) 45.4 1.5 3.5 2.0 % Margin -40.6% -7.2% 33.4% 1.1% 2.5% 1.4% Diluted EPS (0.65) (0.12) 0.53 0.02 0.04 0.02 Diluted Shares 85.2 87.7 2.5 86.0 88.1 2.1
Make additive work for you Note: $ in thousands unless noted otherwise. All numbers and percentages rounded. GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP Gross Profit (1) $ 62,326 $ 5,908 $ 68,234 $ 56,092 $ 5,971 $ 62,063 Operating income (loss) (1,2) (11,012) 13,716 2,704 (22,704) 22,781 77 Net income (loss) (1,2,3) (10,210) 13,683 3,473 (55,634) 57,109 1,475 Net income (loss) per diluted share (4) $ (0.12) $ 0.16 $ 0.04 $ (0.65) $ 0.67 $ 0.02 (1) Acquired intangible assets amortization expenses 4,521 4,526 Non-cash share-based compensation expenses 743 819 Restructuring and other expenses 644 626 5,908 5,971 (2) Acquired intangible assets amortization expenses 1,173 1,068 Non-cash share-based compensation expenses 4,990 4,816 Restructuring and other related costs 1,424 2,639 Revaluation of investment - 2,208 Contingent consideration 151 - Legal and other expenses 70 6,079 7,808 16,810 13,716 22,781 (3) Corresponding tax effect 156 191 Equity method related expenses and impairment - 34,337 Finance expenses (income) (189) (200) $ 13,683 $ 57,109 (4) Weighted average number of ordinary shares outstanding- Diluted 87,732 88,135 85,151 86,000 Three Months Ended September 30, 2026 Three Months Ended September 30, 2025 Appendix – Reconciliation of GAAP to Non-GAAP Results of Operations
Make additive work for you Note: $ in thousands unless noted otherwise. All numbers and percentages rounded. Three Months Ended September 30, 2026 2025 Net loss $ (10,210) $ (55,634) Financial income, net (1,120) (2,656) Income tax expenses 318 524 Share in losses of associated companies and impairment - 35,062 Depreciation expenses 5,443 5,085 Amortization expenses 5,701 5,602 Non-cash share-based compensation expenses 5,733 5,635 Revaluation of investment - 2,208 Contingent consideration 151 - Legal and other expenses 438 6,466 Restructuring and other related costs 1,594 2,752 Adjusted EBITDA $ 8,048 $ 5,044 Appendix – Reconciliation of GAAP Net Loss to Adjusted EBITDA