Following completion of the merger between Stratasys, Inc. and Objet Ltd., the Company benefits from a global network of more than 260 resellers and independent sales agents that sell Stratasys products and services worldwide. In this connection, the Company has initiated a comprehensive integration plan, which includes a cross-training program to enable its reseller and sales agent network to market and sell the combined product and service portfolio. The Company expects to conclude the cross-training process within 18 months, yielding a more capable reseller network.
The Company spent a net amount of $33.3 million, or 9.3% of its 2012 revenue, on research and development on a pro forma non-GAAP basis and $36.9 million, or 10.3% on a pro forma GAAP basis. The Company’s ongoing combined R&D investments yielded a number of product introductions in the fourth quarter, including:
- Launch of the Objet1000 – the world’s most effective large-format 3D printer for industrial scale prototypes.
- Launch of the Scholar – an accessible and highly affordable PolyJet 3D printer package for academia.
- Introduction of black color ULTEM 9085 – a high-performance thermoplastic, for use in its FDM 3D printing process.
- Introduction of new rigid black PolyJet material and 16 new rigid/rubber-like composites – bringing availability of PolyJet materials to more than 120.
In 2013, the Company will continue significant investment in its R&D efforts, focusing on further developing its proprietary technologies, enhancing its AM systems, and developing new systems and materials in order to broaden its product offerings.
“Stratasys has significantly expanded its sales reach, and now maintains a combined sales and marketing infrastructure that is unmatched within the industry,” said Scott Crump, chairman and chief innovation officer of Stratasys. “We have initiated the process of cross-selling our portfolio of complementary additive manufacturing solutions through our channel worldwide. In addition, we are focused on improving our existing platforms and developing new products that meet the needs of our customers. We expect these channel and product initiatives will provide more opportunities to sell our products going forward.”