EDEN PRAIRIE, Minn. & REHOVOT, Israel - Stratasys (NASDAQ:SSYS) Ltd., a company specializing in polymer 3D printing solutions, has established a new Industrial Customer Advisory Board (CAB) aimed at advancing additive manufacturing for large-scale production. The board, composed of 12 members from leading manufacturers and academic institutions, is set to provide insights and drive innovation within the industry.
The CAB includes representatives from prominent companies such as Boeing (NYSE:BA), TE Connectivity (NYSE:TEL), and Toyota , as well as academic institutions known for their manufacturing programs like Wichita State University's National Institute for Aviation Research, the University of Texas El Paso, and the Milwaukee School of Engineering.
With a focus on scalable manufacturing applications, the advisory board is collaborating with Stratasys to address quality, reliability, and sustainability within additive manufacturing. The first workshop was held in December, and additional sessions are scheduled throughout 2024 and into 2025.
Jeff Hemenway, Senior Vice President of Global Industrial Sales at Stratasys, emphasized the importance of working closely with market leaders to define and realize evolving customer requirements. Dr. Melissa Orme, Vice President of Boeing Additive Manufacturing, expressed enthusiasm for the collaboration, which aims to continuously open new scalable applications in the field.
Jamie Janawitz, Chief Technology Officer at TE Connectivity, noted the potential for the board's collective expertise to set new standards in additive manufacturing. Similarly, Eduardo Guzman from Toyota Motor (NYSE:TM) North America highlighted the value of mainstreaming additive manufacturing in the production process.
Rich Garrity, Chief Industrial Business Officer at Stratasys, described the CAB as a working advisory board committed to advancing production-based value for their respective companies and industries.
Stratasys is recognized for its contributions to various industries, including aerospace, automotive, consumer products, and healthcare, through its 3D printing solutions. The company's approach integrates 3D printers, polymer materials, software ecosystems, and parts on demand, aiming to provide competitive advantages throughout the product value chain.
The formation of this advisory board is based on a press release statement from Stratasys Ltd.
InvestingPro Insights
Stratasys Ltd. (NASDAQ: SSYS), a leader in polymer 3D printing solutions, has recently initiated an Industrial Customer Advisory Board to enhance additive manufacturing for large-scale production. While the company is innovating and collaborating with industry giants, a glance at the financials through InvestingPro provides additional context for investors.
InvestingPro data reveals that as of the last twelve months ending in Q4 2023, Stratasys holds a market capitalization of $801.43 million. This valuation comes at a time when the company has faced a revenue decline of 3.67%, indicating challenges in growth. Despite this, the company maintains a strong gross profit margin of 44.53%, showcasing its ability to retain a significant portion of sales as gross profit.
One of the InvestingPro Tips for Stratasys is that it holds more cash than debt on its balance sheet, which is a positive sign for financial stability and operational flexibility. Moreover, liquid assets exceed short-term obligations, ensuring the company can meet its immediate liabilities. However, it is also important to note that Stratasys has not been profitable over the last twelve months, with a negative P/E ratio of -7.53, reflecting the challenges it faces in achieving profitability.
For those considering an investment in Stratasys, the company's stock price has seen a significant drop over the last three months, presenting potential value opportunities. Analysts predict that the company will be profitable this year, which could signal a turnaround for investors keeping a close eye on the firm. Stratasys does not pay a dividend, which may influence the investment decisions of income-focused shareholders.
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InvestingPro currently lists 7 additional tips for Stratasys, offering a comprehensive view for those looking to make an informed investment decision.
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