SSYS bullet points- -Revenues were driven by a 29.2% growth in our system sales compared to the second quarter of 2021, continuing the strong trend that is expected to increase sales of recurring consumables and services in the future -For the second quarter, total revenue grew by 13.3% to $166.6 million from the prior year period. On a constant currency basis, total revenue increased 16.4% versus the prior year quarter. -Now turning to gross margins. GAAP gross margin was 40.5% for the quarter, compared to 43% for the same period last year. Margin pressure is common amongst all tech now-- 3% hit not as bad as it could of been. -This quarter, we are pleased to note an improved efficiency of our model, where the additional operating expenses reflected only 25% incremental cost instead of the historical range in the mid to high 40%. Regarding earnings, GAAP operating loss for the quarter was $23.5 million compared to a loss of $22.7 million for the same period last year. Non-GAAP operating income for the quarter was $1.9 million compared to a loss of $2.6 million for the same period last year. -GAAP net loss for the quarter was $24.4 million or $0.37 per diluted share compared to a net loss of $20.2 million or $0.31 per diluted share for the same period last year. Non-GAAP net income for the quarter was $1.2 million or $0.02 per diluted share compared to a loss of $1.6 million or $0.02 per diluted share in the same period last year. Adjusted EBITDA of $7.4 million compared to $3.5 million in the same period last year reflected our improved profitability levels. We used $22.8 million of cash in our operations during the second quarter compared to generating $5.6 million of cash from operations in the same quarter last year. The use of cash was primarily driven by deliberately increased inventory purchases of over $20 million. Inv build up another huge issue for tech- -Since our last update, currency exchange rates have continued to decline across a number of our key foreign currencies, impacted our outlook for revenues for the second half of the year by $10 million. We expect the timing of such impact to be relatively even across the third and fourth quarter and as a result, are adjusting our full year revenue guidance accordingly. We now expect revenue in a range of $675 million to $685 million and for revenue to continue growing sequentially throughout the remainder of the year. Revenue growth for the second half of the year is expected to be approximately 6% to 7% higher than the second half of 2021, with the fourth quarter anticipated to grow at a higher rate than the third.
Stoney, you look very unprofessional excluding the great "perfect bottom call" I made on 6/16. It's ok Stoney. The readers know.
WELL It's a hot hot Sunday I have seen the damn Black Bear this morning when my dog was outside with my wife .Thank God they walked the road way and not around the point. He's gotten rather large. We have a huge dumpster on site filled with the old wood from the deck-- no food. But Mr Bear probably is used to these containing some organic matter and that maybe what brought him so close to the damn house. Man-- twenty feet from the front door. Giant Black Bear.
Van timing wise you would be ranked last. No joke. Flip Flop would be your CB handle. leave the forecasting to me at least until I mess up once.! Perfection has it's privileges.
READERS- IF YOU EVER EVER CATCH ME SAYING ONE THING AND THEN COMPLETELY CHANGING MY VIEW WITHIN A FEW SHORT PAGES HERE A) SHOOT ME AND PUT ME OUT OF MY MISERY & B) THAT WOULD BE THE FIRST TIME IN THREE THREADS AND OVER 200,000 VIEWS. YOU DON'T GET THIS FAMOUS BY ACCIDENT.-
These green stocks will all start falling the closer we get to the mid-terms. Not being political Stoney, but the fact that most feel the Right will take the House and Senate... I doubt these short term spikes hold. I predict 8 more trading sessions of gains, the big moves are done obviously, so before a week from Wednesday, close em all out.