The 3D printer manufacturer Stratasys is planning extensive restructuring measures. This includes reducing the workforce by around 15 per cent by the end of this year.
Stratasys expects that the streamlining of business processes will result in savings of around 40 million US dollars per year from the first quarter of 2025 and an EBITDA margin of 8 per cent on current sales.
‘To maintain our industry leadership, we must continuously evaluate and adapt our business model to changing market conditions,’ said Dr Yoav Zeif, Chief Executive Officer of Stratasys. ‘We are confident that our actions will enable our customers to more effectively address their biggest manufacturing challenges, which should lead to increased utilisation of our additive technologies.’
In its financial report for the second quarter of 2024, Stratasys reported a decline in revenue to $138.0 million from $159.8 million in the prior-year quarter. The company attributes this to the continued impact of the macroeconomic environment on investments in manufacturing equipment.
At the same time, Stratasys was able to slightly improve its gross profit margin compared to the same quarter of the previous year. The focus will now be on products with the highest growth potential in the areas of materials and software.
Despite the current challenges, Stratasys believes it is well positioned to capitalise on future market opportunities and offer shareholders long-term added value.
Subscribe to our Newsletter
3DPresso is a weekly newsletter that links to the most exciting global stories from the 3D printing and additive manufacturing industry.
