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INDIANAPOLIS - Stratasys (NASDAQ:SSYS), currently trading at $10.85 and showing strong momentum with a 30% return over the past year, has extended its multi-year partnership as the Official 3D Printing Partner of Andretti INDYCAR, according to a press release statement issued by Andretti Global on Tuesday. According to InvestingPro analysis, the company appears undervalued based on its Fair Value estimates.
The partnership, which began in 2018, provides Andretti’s racing team with industrial 3D printing systems and services, including the Stratasys F370 and Fortus 450mc machines. These technologies support the team’s engineering and production efforts for components such as cooling shrouds, steering wheel setup beams, and damper spring perch tools. With a solid current ratio of 3.02 and more cash than debt on its balance sheet, Stratasys maintains strong financial flexibility to support such strategic partnerships.
As part of the extended agreement, Stratasys will help design a 3D printing lab in Andretti Global’s new headquarters. The company’s branding will continue to appear on the tire ramps of Andretti INDYCAR Honda entries.
"The expansion of our partnership with Stratasys will significantly enhance our additive capacity and capabilities at Andretti Global," said Scott Graves, Engineering Manager at Andretti Global. "Armed with their latest industry-leading technologies, we can push the limits of what’s possible in additive manufacturing." Discover more insights about Stratasys’s growth potential with InvestingPro, which offers exclusive access to 8+ additional ProTips and comprehensive financial analysis.
Rich Garrity, Chief Commercial Business Officer at Stratasys, noted that the partnership "highlights the critical role of additive manufacturing in advancing motorsports innovation."
Andretti Global operates as a racing team under the TWG Motorsports umbrella. The financial terms of the partnership extension were not disclosed in the announcement.
In other recent news, Stratasys Ltd. reported its first-quarter 2025 earnings, revealing an earnings per share (EPS) of $0.04, which aligned with analyst forecasts. However, the company’s revenue of $136 million fell slightly short of the anticipated $137.69 million. Stratasys has also launched GrabCAD Print Pro 2025, an updated software aimed at enhancing efficiency in additive manufacturing by integrating a design automation application, potentially reducing fixture design time by up to 80%. Additionally, the company has introduced P3 Silicone 25A, a new high-performance material developed in collaboration with Shin-Etsu, which allows for the production of flexible parts without tooling requirements. In a strategic move to bolster its manufacturing capabilities, Stratasys has opened the North American Stratasys Tooling Center in Flint, Michigan, in partnership with Automation Intelligence. This facility is equipped with advanced 3D printers and focuses on providing tooling solutions to manufacturers. These developments reflect Stratasys’s ongoing efforts to innovate and expand its product offerings in the additive manufacturing sector.
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