Why you do this?

Digging through latest 3D Systems and Stratasys financial reports

38 and 35 years. That’s how long 3D Systems and Stratasys have been around, respectively. These are the two oldest companies in the AM industry. In fact, 3D Systems was the very first…

Both companies offer practically all the most popular additive techniques on the market, utilizing all the key materials in their work. 3D Systems remains the global leader in industrial resin machines (SLA), while Stratasys leads the world in thermoplastics (FDM) and inkjet resins (PolyJet).

For 20 years, they held all the key patents on AM technologies, blocking independent (competitive) development by other companies. Even now, they still hold enough related patents to potentially leverage them against competitors at any time (see the 2024 Stratasys vs. Bambu Lab patent lawsuit).

Over the years, they’ve acquired about a hundred companies, both large and small, expanding their product portfolios with new technologies, as well as with unique and original materials and software.

For a long time, they have occupied the top two positions in the industry in terms of revenue.

3D Systems and Stratasys are the largest, most influential, and generate the most money.

Yet, they still disappoint.

They still haven’t reached the level they should have achieved long ago.

And who says so? Pretty much everyone… Investors, shareholders, customers, competitors. Even the companies’ CEOs themselves. No one is satisfied. Everyone wants more. Everyone thought they would be further along by now.

But they are still in the same place. That place is called half a billion dollars in annual revenue.

+/- 100 million. Sometimes it’s more, sometimes it’s less.

And there’s still an operating loss.

But that’s not all. At the end of August 2024, Stratasys — the industry leader in revenue for several years — announced that they have to lay off 15% of their workforce. Because things are that bad.

And just a bit earlier (mid-August), they announced they are leaving their historic headquarters in Eden Prairie and moving to a nearby campus where they will lease space. They plan to sell their buildings because extra cash is more needed than ever…

3D Systems? Don’t get me started…

Over three decades in the market (nearly four for 3D Systems), and these companies still face the same problems. Even if they surprise with something big in a given reporting period, two or three quarters later, they disappoint again. And repeat.

I’ve been observing this day by day for 11 years.

And I ask myself: What’s the point? Why are you doing this?