Additive manufacturer Stratasys Ltd. said Feb. 23 fourth-quarter revenue increased by 17 percent from a year earlier.The company, based in Minneapolis and Rehovot, Israel, posted quarterly revenue of $167 million compared with $142.4 million in 2020’s final quarter.
“Our strong execution and results for the fourth quarter were driven by growth across all technologies and regions,” CEO Yoav Zeif said in a statement. The company had its “highest systems sales in three years, helping to generate our sixth consecutive quarter of positive operating cash flow,” he said.
Stratasys posted a loss of $4.8 million, or 7 cents a share, compared with a profit of $11 million, or 20 cents in 2020’s fourth quarter. The year-earlier figure included a one-time $14 million tax benefit.
The company said it ended 2021 with $500 million in cash and cash equivalents, up from $272 million at the end of 2020.
The increase provides “us flexibility to seek opportunities that will support our future growth,” Zeif said on a conference call transcribed by The Motley Fool.
For all of 2021, Stratasys had revenue of $607.2 million, up from $520.8 million in 2020. The company’s 2021 loss was $62 million, or 98 cents a share, compared with $443.7 million, or $8.08 the year before. The 2020 figure included $386.2 million in writedowns of assets.
Stratasys forecast 2022 revenue of $680 million to $695 million. The company expects a full-year loss of $67 million to $74 million, or $1 to $1.11 a share.
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