Zeif also referenced Nano Dimension’s ongoing legal disputes with shareholders for the control and governance of the company, emphasizing the legitimacy of Stratasys’ decision.
Zeif referred to the Stratasys Board’s careful review and evaluation of each proposal and said the rejection was unanimous since each proposal “substantially undervalued Stratasys” given its standalone prospects. Anticipating a Desktop Metal merger?ĭuring an earnings call with investors on May 16, Stratasys CEO Yoav Zeif briefly commented on Nano Dimension’s three unsolicited proposals to acquire Stratasys, initially for $18, then $19.55, and subsequently for $20.05 per share in cash.
An engineer using the Stratasys V650 3D printing system. However, consumables revenue saw a positive trend, rising by 3.3% to $60.5 million. Product revenue in the first quarter also declined by 10.7% to $101 million compared to last year’s period. The decline in product revenue was primarily attributed to a 25.8% drop in system revenue, which amounted to $40.5 million. Notably, Stratasys informed investors of an adjusted net income of $1.1 million, or 2 cents per share, and adjusted EBITDA of $7 million.įor the first quarter, Stratasys reported a decline in first-quarter revenue to $149.4 million, an 8.6% decrease compared to the same period last year.
Despite an increasingly challenging macroeconomic backdrop, the company reported its seventh consecutive quarter of adjusted profitability, showcasing robust financial results for the year’s first quarter. The deal announcement came just days after Stratasys posted its earnings results for the first quarter of the year. This merger is set to create waves in the industry, projecting revenue synergies of $1.1 billion by 2025 and a significant growth opportunity in a total addressable market predicted to exceed $100 billion by 2032.Īlongside the merger news, Stratasys’ recent financial performance deserves attention in its own right. Following Nano Dimension (Nasdaq: NNDM)’s numerous failed attempts to acquire Stratasys (Nasdaq: SSYS), the 3D printing pioneer finally announced its merger with Desktop Metal (NYSE: DM) in a staggering deal valued at $1.8 billion.
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