AM specialist Stratasys has reported revenue of US$167.9 million for Q1 2016, compared to US$172.7 million in the same period last year. The company also generates US$31.6 million in cash from operations for the same period, compared to US$3.9 million in 2015.

The company also invested a net amount of US$22.8 million in R&D projects (non-GAAP basis) during the first quarter, representing 13.6% of net sales.

Stratasys sold 5125 3D printing and additive manufacturing systems during the quarter, and on a pro-forma combined basis, has sold a total of 151,149 systems worldwide as of 31 March, 2016.

‘Although the overall market environment remains challenging, we made significant progress in improving our operating efficiency during the first quarter, which is demonstrated by the favorable trends we observed in operating expenses and cash generation during the period,’ said David Reis, CEO of Stratasys. ‘We believe the recent refinements to our operating structure will make us more productive and better position us for future growth.’

This story is reprinted from material from Stratasys, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.