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Stratasys (SSYS) Inks 3D Printing Deal With Select Additive

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Stratasys (SSYS - Free Report) has entered into an agreement to be the exclusive polymer 3D printing partner of Select Additive Technologies, a division of Morris Group, Inc. and a major player in machine tool distribution in the United States.

With more than 80 years of experience in serving the metalworking industry, Select Additive is well-equipped to help manufacturers transition from traditional metal removal methods to the rapidly advancing world of additive manufacturing. This partnership will provide Select Additive's customer base with a diverse range of polymer 3D printing solutions, exclusively offered by Stratasys.

Select Additive is now offering the complete suite of SSYS' 3D polymer printers, software and materials. These solutions empower customers to improve their prototyping, create new tools and engage in mass production of polymer parts. As additive manufacturing continues to grow, offering comprehensive solutions throughout the manufacturing process becomes increasingly vital.

SSYS’ Advancements in Additive Manufacturing to Aid the Top Line

Stratasys has introduced a new Industrial Customer Advisory Board to gather feedback and insights from its customers. This initiative aims to enhance innovation in the additive manufacturing industry by giving customers a stronger voice.

The Industrial Customer Advisory Board comprises 12 members from leading manufacturers in Aerospace, Automotive and Industrial Manufacturing sectors, as well as prominent research and educational institutions. Participants include companies like Boeing, TE Connectivity and Toyota, as well as renowned schools with strong manufacturing programs, such as Wichita State’s National Institute for Aviation Research, the University of Texas El Paso and the Milwaukee School of Engineering.

The company has also unveiled two new software packages, such as GrabCAD Streamline Pro and an updated version of GrabCAD Print Pro for PolyJet. These software offerings leverage the capabilities of Stratasys' GrabCAD platform to improve workflows, increase efficiency and reduce costs for customers.

The initial release of GrabCAD Print Pro for FDM and SAF has led to a significant increase in hardware utilization for some customers, ranging from 30% to 50%. This software allows customers to better manage the movement and processing of parts, providing them with more opportunities to expand their additive manufacturing capabilities.

These recent advancements in additive manufacturing are expected to aid SSYS’ top line in the upcoming quarters and establish a dominant position in the 3D printing market.

The Zacks Consensus Estimate for Stratasys’ 2024 revenues is pegged at $637.64 million, indicating year-over-year growth of 1.6%. The consensus estimate for 2024 earnings is pegged at 15 cents per share, indicating year-over-year growth of 36.36%.

Shares of this Zacks Rank #4 (Sell) company have plunged 30.3% year to date against the Zacks Computer and Technology sector’s 9% growth due to tough competition in the 3D printing market from dominant players like Altair Engineering (ALTR - Free Report) , Xometry (XMTR - Free Report) and 3D Systems (DDD - Free Report)

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Altair Engineering has become well-known in 3D printing due to its advanced simulation tools. Its Inspire Print3D makes product development simpler and cheaper. ALTR boosted its 3D printing capabilities by teaming up with Gen3D, a company known for its software design and consulting services. This partnership made Altair Engineering even stronger in the 3D printing world.

In the summer of 2021, Xometry had its first public offering. It runs a platform where businesses can easily order prototypes and mass-produced items. XMTR have a huge network of more than 5,000 suppliers who can help with different manufacturing jobs, including 3D printing and injection molding.

3D Systems specializes in making printers and design software for many industries like medical devices, aerospace and automotive manufacturing. It is a major player among independent 3D printing companies, with expertise and reach around the globe. DDD also owns the Oqton software, which helps streamline 3D printing operations.

Stratasys completed the acquisition of Arevo's technology portfolio. Arevo, previously based in Silicon Valley, stopped operating in 2023. The acquisition of the IP estate includes several essential patents in carbon fiber printing, improving strength with laser melting and roller compaction, real-time monitoring during printing and hardware design. This is expected to strengthen Stratasys’ competitive position in the 3D printing market.

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