Stratasys Q2 Revenue Falls, But It Reiterates Positive Outlook for FY23 and Beyond, Stock Slides

Stratasys Ltd (NASDAQ:SSYS) reported a second-quarter FY23 revenue decline of 4.08% year-over-year to $159.8 million, beating the consensus of $153.2 million. Adjusted EPS of $0.04 beat the $(0.03) consensus.

The adjusted gross margin expanded by 90 bps to 48.5%. Adjusted operating income was $5.0 million, up from $1.9 million a year ago, margin improved by 197 bps to 3.1%.