Stratasys reported second quarter 2026 revenue of $137.6 million, roughly level with the prior year and up 3.7% from the first quarter. Consumables hit a record $66.3 million and aerospace and defense revenue grew 17%, while the company still booked a GAAP net loss of $16.9 million. Management keeps its full-year targets but no longer expects positive operating cash flow for 2026.
How did Stratasys perform in the second quarter of 2026?
Revenue came to $137.6 million, against $138.1 million in the same quarter of 2025 and $132.7 million in the first quarter of 2026. GAAP gross margin was 42.3% (43.1% a year earlier) and non-GAAP gross margin 47.2% (47.7%). The GAAP operating loss narrowed to $13.5 million from $16.6 million, while the GAAP net loss was $16.9 million, or $0.19 per share. Non-GAAP net income was $2.3 million.
What drove the result?
Consumables revenue set a record at $66.3 million, which the CEO attributed to manufacturing materials. Aerospace and defense, the company's largest vertical, grew 17% compared with the prior year. Management says its pipeline of new orders in that segment is building and should support sequential growth. Adjusted EBITDA was $5.3 million; the company says it would have been $8.2 million without a $2.9 million net effect from the strong shekel.
What changed in the outlook?
Stratasys reaffirms its 2026 targets: revenue of $565 to $575 million, non-GAAP gross margin of 46.7% to 47.1% and adjusted EBITDA of $25 to $30 million. The exception is operating cash flow. Cash used in operations was $18.7 million in the quarter, attributed mainly to atypical non-routine items, so the full year will no longer be positive, though the second half is expected to be. The company holds $212.5 million in cash and deposits and has no debt. It also refers to its pending acquisition of Markforged, which it expects to strengthen its industrial offering with continuous carbon fiber technology, materials and software.
What it means
For buyers and partners, the pattern matters more than the headline: revenue is flat, yet consumables and aerospace are growing, which points to installed systems being used for production rather than prototyping. A debt-free balance sheet lowers supplier risk for companies planning multi-year material commitments. The pending Markforged deal could change product lines and support structures for continuous fiber users, so SMEs on either platform should watch for roadmap announcements. The guidance cut on cash flow shows margins remain thin across the sector.
Frequently asked questions
Did Stratasys grow in Q2 2026?
Revenue of $137.6 million was almost level with $138.1 million a year earlier, but up 3.7% from the first quarter. Consumables and aerospace and defense grew.
Did Stratasys change its 2026 guidance?
It reaffirmed revenue of $565 to $575 million and adjusted EBITDA of $25 to $30 million. Only operating cash flow changed: it will not be positive for the full year, but is expected to be in the second half.
What is the status of the Markforged acquisition?
The company describes it as pending and expects it to add continuous carbon fiber technology, materials and software to its industrial offering.
This summary was written with the help of AI from the linked reports, under the editorial responsibility of Svetozar Kolesar.