Stratasys Ltd., based in Minneapolis, USA, and Rehovot, Israel, has announced its financial results for the second quarter 2018. According to the report, revenue for the quarter rose slightly to $170.2 million, compared to $170 million for the same period last year.
The company reported a gross profit of $83.6 million for Q2 2018, compared to $83.4 million in the same period in 2017. However, with operating expenses of $85.6 million in Q2 2018, the company posted a $2 million operating loss for the period, compared with a $5 million loss in Q2 2017. Net loss for the period was reported to be $3.6 million, compared to $6.2 million in the previous year.
Net research and development expenses for the quarter amounted to $23.7 million, an increase of 1.9% compared to the same period last year. In the first six months of 2018, Stratasys has recorded R&D expenses of some $48.8 million.
Elchanan (Elan) Jaglom, Interim Chief Executive Officer of Stratasys, stated, “Our second quarter revenue was in-line with our expectations for the period, as we saw recovery in high-end system orders in North America and in certain verticals, specifically our customers in government, aerospace, and automotive.”
“We continued our positive trend of cash generation and operational discipline, while we also continue to ramp up our investments in our core FDM and PolyJet technologies, new metal Additive Manufacturing platform, advanced composite materials, and software and application development.”