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Stratasys announces restructuring after Q2 2024 revenue decline
Additive Manufacturing
Sep 3, 2024
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Additive Manufacturing

Additive Manufacturing

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Sep 3, 2024

Stratasys announces restructuring after Q2 2024 revenue decline

Management news

  • Stratasys, a provider of polymer 3D printing solutions, has planned to reduce the workforce by 15% to generate USD 40 million in annual cost savings.

  • The restructuring was caused due to the decrease in revenue by 13.6% for Q2 2024, (USD 138 million from USD 159.8 million in Q2 2023). Through the restructuring the company plans to achieve an 8% EBITDA margin by Q1 2025. 

  • Analyst QuickTake: Over the last year, a number of established AM companies have announced layoffs as part of their restructuring plan for cost reduction. With this announcement, Stratasys joins the likes of Velo3D , which announced a 30% reduction in its global workforce last month , and Desktop Metal, which announced a 20% workforce reduction as part of its USD 50 million cost-cutting strategy in January. 

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