| Telenier system
The 3D printing giant Stratiss (NASDAQ :), which specializes in 3D printing solutions for polymers, announced on Wednesday the fourth quarter of 2021 and 2021 as a whole.
The company’s revenue increased by approximately 17% compared to the fourth quarter of 2020 and its revenue for the whole of 2021 was $ 607.2 million.
There was also a 26% increase in sales of 3D printing systems – a record for sales in the last three years, and a sixth consecutive quarter of positive operating cash flow.
Shares of Stratiss fell 8.5% in trading on NASDAQ on Wednesday, and in later trading continued to fall another 7.5%. In total in the last 12 months the company’s stock has lost 36% and its market value now stands at $ 1.5 billion.
Financial results in the fourth quarter of 2021
The company’s revenue was $ 167.0 million, compared to $ 142.4 million in the same quarter last year.
GAAP gross profit was 43.7%, compared to 46.4% in the same quarter last year, and non-GAAP gross profit was 48.7%, compared to 49.5% in the fourth quarter of 2020.
The GAAP operating loss was $ 16.2 million, compared to an operating loss of $ 2.5 million in the corresponding quarter and the non-GAAP operating profit was $ 1.7 million, compared to a non-GAAP operating profit of $ 8.3 million reflecting low operating expenses due to a 4-day work week In the corresponding period.
The company posted a $ 4.8 million GAAP net loss this quarter, or a $ 0.07 diluted loss per share, compared to $ 11 million net income, or $ 0.20 per diluted share in the same quarter in 2020 that included a $ 14 million one-time tax benefit.
Non-GAAP net income was $ 0.5 million, or $ 0.01 diluted earnings per share, compared to $ 7.0 million non-GAAP earnings, or $ 0.13 diluted earnings per share in the fourth quarter of 2020.
Adjusted EBITDA was $ 7.9 million, compared to $ 14.6 million in the same period last year.
Cash generated from operating activities amounted to $ 4.4 million, compared to $ 23.7 million, as a result of a larger-scale inventory acquisition in the current quarter.
“The strong performance and results for the fourth quarter were due to growth throughout our product line and technologies in all our areas of activity worldwide,”
Said Dr. Yoav Zayef, CEO of Stratiss (pictured above).
“Revenue rose 17 percent, a move driven by a 26 percent increase in 3D printing sales – a record three-year sales, and a sixth consecutive quarter of positive operating cash flow.”
According to Dr. Soap:
“In 2021, we have established the necessary infrastructure to drive the company’s success in the coming years, both through important acquisitions and through successful launches of new products. We have strengthened our position as market leaders and expanded our product line offering in polymer 3D printing.
We have also seen a growing number of industries that are warmly embracing supplement production and integrating it into their industrial production lines, as we play an important role in this ongoing change.
Equipped with the best products of their kind, our open access to materials and software, with the strong financial balance in the industry and a constant focus on execution, we are certainly well positioned today to continue building the strong momentum we have in 2022. “
| Financial results for the entire year 2021
Revenue was $ 607.2 million, compared to $ 520.8 million in 2020.
GAAP gross profit was 42.8% compared to 42.1% in the same period last year and non-GAAP gross profit was 47.8% compared to 47.6% in 2020. GAAP’s operating loss was $ 79.2 million, compared to an operating loss of $ 456.0 million in 2020. Non-GAAP operating loss of 1.7 million, compared to a loss of 9.1 million.
Adjusted EBITDA totaled $ 22.6 million compared to $ 16 million in 2020.
The GAAP net loss reached $ 62 million, or $ 0.98 diluted loss per share, compared to a loss of $ 443.7 million, or $ 8.08 diluted loss per share in 2020.
The non-GAAP net loss was $ 4.3 million or $ 0.07 diluted loss per share, compared to a non-GAAP net loss of $ 13.9 million or $ 0.25 diluted loss per share in 2020.
Cash generated from operating activities totaled $ 35.8 million compared to $ 27.8 million.
| Financial forecast
Based on current market conditions and assuming that the effects of the corona or global supply chain costs will not further delay economic activity, the Company provides the following forecast for 2022:
Revenue for the full year will reach $ 680 million to $ 695 million.
Continuous quarterly revenue growth. Revenue growth in the first quarter is expected to grow between 17% and 19% percent compared to the first quarter of 2021.
Based on logistics operating costs and materials costs, gross profit for the entire year is expected to be similar to slightly higher relative to 2021, with improvement from year-on-year growth in the second half of 2022.
Gross profitability in the first quarter is expected to be similar to the first quarter of 2021.
A target of over 50% gross profit in the long run
Full-year operating expenses are between $ 20 million and $ 25 million higher than those in 2021, mainly due to ongoing investments in new products to increase revenue.
Non-GAAP operating profit for the entire year is just over 2%, with a small loss in the first half of the year and profitability in the second half of the year.
A target of over 10% long-term NON-GAAP operating profitability
A GAAP net loss of $ 74 million to $ 67 million, or $ 1.11 to $ 1.00, diluted earnings per share.
Non-GAAP net income of $ 10-13 million, or $ 0.14-0.19 diluted earnings per share.
Adjusted EBITDA from $ 38 million to $ 41 million.
Capital investments of $ 20 to $ 25 million.
The Non-GAAP profit forecast does not include a reduction of intangible assets of $ 37 to 38 million, share-based payment expenses of $ 31 to 33 million, restructuring expenses and other expenses of $ 14 to 15 million. The Non-GAAP forecast includes tax adjustments of $ 2 million to $ 1 million on the non-GAAP clauses above.
The article was first published on the Telniri website.