Stratasys Ltd., based in Minneapolis, USA, and Rehovot, Israel, has announced its financial results for the third quarter 2018. According to the report, revenue for the quarter rose slightly to $162 million, compared to $155.9 million for the same period last year.
The company reported a gross profit of $78.9 million for Q3 2018, compared to $75.2 million in the same period in 2017. With operating expenses of $75.6 million in Q3 2018, the company posted a $3.3 million operating loss for the period, compared with an operating loss of $6.9 million Q3 2017.
Net research and development expenses for the quarter amounted to $25.7 million, compared to $21.7 million in the same period last year. In the first nine months of 2018, Stratasys has recorded R&D expenses of some $74.5 million.
Elchanan (Elan) Jaglom, Interim Chief Executive Officer of Stratasys, stated, “We are pleased with our results this quarter, reflecting continued strength in our high-end systems orders, utilisation rates and our parts services business. The level of engagement we are experiencing with customers in our key verticals is encouraging.”
“We are excited about the innovation we plan to bring to market to drive incremental, long-term opportunities, as we continue to invest in new products and materials across our portfolio of FDM and PolyJet technologies, our new metal Additive Manufacturing platform, and advanced composite materials,” he continued.
“We ended the quarter with positive cash generation and expense controls that drove efficiencies and maintained operational discipline as we continue to invest in research and development to expand our portfolio. We believe we have the best go-to-market execution strategy in the industry and are focused on delivering new, innovative solutions in the coming years that will drive strong, profitable top and bottom-line growth.”