Stratasys Ltd. (SSYS) stock plummeted 6.22% in pre-market trading on Wednesday, following the release of the company's fourth quarter and full-year 2024 financial results.
The 3D printing solutions provider reported a disappointing fourth quarter, with revenue declining to $150.4 million from $156.3 million in the prior year period. Additionally, the company posted a GAAP net loss of $41.9 million, or $0.59 per diluted share, which included a $30.1 million non-cash impairment of an equity investment.
For the full year 2024, Stratasys' revenue fell to $572.5 million from $627.6 million in 2023, while the company reported a GAAP net loss of $120.3 million, or $1.70 per diluted share. Despite some positive signs, such as improved gross margins and positive operating cash flow, the overall financial performance appears to have disappointed investors.
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