Stratasys Q4 Revenue Falls 6.9% to $140M, 2026 Revenue Guided $565–575M
Stratasys reported Q4 revenue of $140 million, down 6.9%, with consumables revenue up 2.4% to $69.8 million and system sales pressured by constrained capital budgets. It forecast 2026 revenue of $565–$575 million, non-GAAP gross margin of 46.7–47.1% and EBITDA of $25–$30 million, with $17 million in FX and tariff headwinds.
1. Q4 Financial Results
Fourth-quarter consolidated revenue totaled $140 million, down 6.9% from the prior year. Consumables sales rose 2.4% to $69.8 million while product revenue fell from $105.1 million to $97.6 million on weaker system orders. GAAP gross margin declined to 36.8% and the company posted an $18.9 million net loss.
2. 2026 Outlook
Management guided 2026 revenue of $565–$575 million with sequential quarterly growth anticipated. Non-GAAP gross margin is projected at 46.7–47.1% and EBITDA at $25–$30 million, with approximately $17 million of headwinds from foreign exchange and tariffs factored into near-term margins.
3. Cost Discipline and Cash Position
Full-year 2025 non-GAAP operating income rose to $8.3 million and adjusted EBITDA to $28.5 million despite a revenue decline, reflecting lower operating expenses. The company ended 2025 with $244.5 million in cash and equivalents and zero debt, providing flexibility for organic investment and acquisitions.
4. Strategic Partnerships and Manufacturing Focus
Manufacturing accounted for 37.5% of 2025 revenue, up from just over 25% in 2020, driving consumables demand. Key collaborations include Airbus’s production of over 25,000 flight-ready parts and Boeing’s purchase of F3300 printers, underscoring growth in aerospace and defense applications.