EDEN PRAIRIE, Minn. & REHOVOT, Israel - Stratasys Ltd. (NASDAQ: NASDAQ:SSYS), a leader in 3D printing solutions, today announced the appointment of Amir Kleiner as the company's new Chief Operating Officer. Kleiner, who has been with Stratasys for 12 years, will also continue to oversee the Customer Success team while taking on his new role leading the Global Operations, MIS, and Quality team.
The move aims to enhance the synergy between the company's customer success efforts and its operations and supply chain management. Kleiner's appointment follows the departure of Yossi Azarzar, who has chosen to leave the company to focus on family interests. A gradual transition of responsibilities has already commenced.
Kleiner has held various leadership roles within Stratasys, including Vice President of Global Operations and, more recently, Global Vice President of Customer Success. In this position, he has been credited with driving improvements in customer experience and contributing to a significant increase in service-related revenue.
Stratasys CEO Dr. Yoav Zeif commended Kleiner's customer-centric approach and his strategic vision for the company's operations, which spans across data security, e-commerce, quality, product risk assessment, and asset management. Zeif also expressed gratitude to Azarzar for his contributions during a pivotal time in Stratasys' transition to manufacturing-grade solutions.
Stratasys is recognized for its contributions to the additive manufacturing industry, providing 3D printing technology to sectors such as aerospace, automotive, consumer products, and healthcare. The company's solutions are designed to offer competitive advantages throughout the product value chain.
This strategic appointment reflects Stratasys' commitment to its 'Customer First' principle, aiming to meet production needs comprehensively from customer service to operations. The information for this article is based on a press release statement from Stratasys Ltd.
InvestingPro Insights
Amid the strategic management changes at Stratasys Ltd. (NASDAQ: SSYS), investors and stakeholders may be keen to understand the company's financial health and market position. Here are some key metrics and insights from InvestingPro that shed light on Stratasys' current situation:
As of the last twelve months ending in Q4 2023, Stratasys holds a market capitalization of $756.09 million. This valuation comes during a challenging period, as reflected by the company's negative P/E ratio of -7.1, indicating that it has not been profitable over the past year.
Despite this, the company's gross profit margin remains robust at 44.53%, suggesting that Stratasys is maintaining a strong control over its cost of goods sold relative to its revenue, which stands at $627.6 million.
InvestingPro Tips highlight that Stratasys holds more cash than debt on its balance sheet and has liquid assets that exceed short-term obligations, which can be reassuring for investors concerned about the company's financial resilience. However, it is notable that six analysts have revised their earnings downwards for the upcoming period, and the stock has seen a significant price drop over the last three months, with a 22.17% decrease in total return.
On a positive note, net income is expected to grow this year, and analysts predict the company will return to profitability. This could be a key factor for potential investors looking for a turnaround story. Yet, it's important to bear in mind that Stratasys does not pay a dividend to shareholders, which may influence the investment decisions of those seeking regular income.
For those interested in a deeper analysis, there are additional InvestingPro Tips available for Stratasys on InvestingPro. And if you're considering an annual or biannual Pro and Pro+ subscription, don't forget to use the coupon code PRONEWS24 to get an extra 10% off.
The next earnings date is set for May 15, 2024, which will provide further clarity on the company's trajectory and the impact of Amir Kleiner's strategic initiatives. With these insights, investors can better gauge Stratasys' potential in the evolving 3D printing market.
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