Revenue and earnings both declined YoY with margins compressing, making this a bearish quarter despite reaffirmed guidance. The company cited FX and tariff headwinds (~$5.3M adverse YoY impact) as key drags. Monitor the Q2 2026 results for signs of sequential revenue improvement as guided, and watch for any changes to the full-year outlook given ongoing macro pressures.
Price Chart
Executive Summary
Stratasys reported Q1 2026 revenue of $132.7M, down 2.4% YoY from $136.0M, with GAAP net loss widening to $23.8M ($0.28/share) from $13.1M ($0.18/share) and non-GAAP net loss of $1.3M vs. prior-year non-GAAP net income of $2.9M. Adjusted EBITDA fell to $2.0M from $8.2M, driven by FX and tariff headwinds. The company reaffirmed its full-year 2026 guidance for revenue of $565M-$575M and non-GAAP net income of $8M-$12.5M.
Key Facts
- Q1 2026 revenue of $132.7M, down 2.4% YoY from $136.0M
- GAAP net loss of $23.8M ($0.28/share) vs. $13.1M ($0.18/share) in Q1 2025
- Non-GAAP net loss of $1.3M ($0.01/share) vs. non-GAAP net income of $2.9M ($0.04/share) in Q1 2025
- Adjusted EBITDA of $2.0M, down 75.8% from $8.2M in Q1 2025
- GAAP gross margin contracted to 41.7% from 44.3%; non-GAAP gross margin to 46.3% from 48.3%
- GAAP operating loss widened to $26.5M from $12.4M; non-GAAP operating loss of $3.2M vs. non-GAAP operating income of $3.0M
- Product revenue declined 5.3% YoY to $88.8M; systems revenue down 7.7% to $28.8M; consumables down 4.2% to $60.0M
- Services revenue grew 4.0% YoY to $43.9M; Stratasys Direct organic growth of 23% YoY led by drone customers
- Cash, equivalents and short-term deposits of $237.8M with no debt; positive operating cash flow of $2.4M vs. $4.5M in Q1 2025
- Reaffirmed FY2026 guidance: revenue $565M-$575M, non-GAAP net income $8M-$12.5M, Adjusted EBITDA $25M-$30M
Financial Impact
Revenue declined $3.3M YoY; GAAP net loss increased by $10.8M; Adjusted EBITDA fell by $6.2M; ~$5.3M adverse YoY impact from FX and tariffs
Risk Factors
- Continued revenue decline and margin compression from FX and tariff headwinds
- Widening GAAP operating loss and negative non-GAAP operating income signal deteriorating profitability
- Customer capital equipment spending remains measured, pressuring systems revenue
- Geopolitical risks from Israel-Iran conflict and US tariff policy could further impact operations
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001628280-26-031752 |
| Document: ssysq12026slides-final.htm | 0001628280-26-031752 |
| Document: cover6-kq1x26pr.htm | 0001628280-26-031752 |
| Document: 0001628280-26-031752-index-headers.html | 0001628280-26-031752 |
| Document: 0001628280-26-031752-index.html | 0001628280-26-031752 |
| Document: 0001628280-26-031752.txt | 0001628280-26-031752 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 13, 2026 7w ago | 6-K | $8.97 $7.72 | ▲ +13.94% | ▲ +12.19% | $8.70 (+3.01%) |
Aug 13, 2026 7w ago | 6-K | $8.97 $7.72 | ▲ +13.94% | ▲ +12.19% | $8.70 (+3.01%) |
May 27, 2026 18w ago | 6-K | $9.91 $8.33 | ▼ −15.94% | ▼ −14.04% | $8.70 (−12.21%) |
May 7, 2026 21w ago | 6-K | $8.20 $9.85 | ▼ −20.12% | ▼ −16.99% | $8.70 (−6.10%) |
May 7, 2026 21w ago | 6-K | $8.20 $9.85 | ▼ −20.12% | ▼ −16.99% | $8.70 (−6.10%) |
US Market Status
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