Stratasys, Ltd.

and welcome to the Stratasys third quarter 2025 earnings call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. Should anyone require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Yona Lloyd, Chief Communications Officer and Vice President of Investor Relations. Thank you. You may begin.

good morning everyone and thank you for joining us to discuss our 2025 third quarter financial results on the call with us today are our ceo dr yoav zaif and our cfo ethan zamir i would like to remind you that access to today's call including the slide presentation is available online at the web address provided in our press release in addition A replay of today's call, including access to the slide presentation, will also be available and can be accessed through the investor relations section of our website. Please note that some of the information provided during our discussion today will consist of forward-looking statements, including, without limitation, those regarding our expectations as to our future revenue, gross margin, operating expenses, taxes, and other future financial performance, and our expectations for our business outlook. All statements that speak to future performance, events, expectations, or results are forward-looking statements. Actual results or trends could differ materially from our forecast. For risks that could cause actual results to be material different from those set forth in forward-looking statements, please refer to the risk factors discussed or referenced in Stratasys' annual report on Form 20F for the 2024 year. Please also refer to that annual report along with our reports filed with or furnished to the SEC throughout 2025 for additional operational and financial details. Reports on Form 6K that are furnished to the SEC on a quarterly basis and throughout the year provide updated current information regarding the company's operating results and material developments concerning our company. Stratasys assumes no obligation to update any forward-looking statements or information which speak as of their respective dates. As in previous quarters, today's call will include GAAP and non-GAAP financial measures. The non-GAAP financial measures should be read in combination with our GAAP metrics to evaluate our performance. Non-GAAP to GAAP reconciliations are provided in tables in our slide presentation and today's press release. I will now turn the call over to our Chief Executive Officer, Dr. Yoav Zaif. Yoav?

Thank you, Yonah. Good morning, everyone, and thank you for joining us. Our disciplined approach to cost management enabled us to deliver solid operating cash flow generation and EPS in the third quarter. This continues to demonstrate the underlying strength of our business model. As we work to overcome the macro-driven caution facing capital equipment sales, we remain focused on what we can influence, rational excellence, customer partnerships, and executing on our strategy as we advance additive manufacturing adoption with innovative offerings. Customer engagement remained substantive and strategic as we build the foundational infrastructure to drive growth and scale across key high value verticals of aerospace and defense, particularly drones, automotive tooling, dentures, precision machine components, and medical anatomic modeling. We are leaders in these areas, where additive is a compelling alternative to conventional manufacturing, as we create durable competitive advantages for years to come. Our long-term strategy remained centered on the fundamental trends reshaping manufacturing. Supply chain localization, next generation mobility, sustainability goals, personalization, and the unrelenting corporate focus on efficiency and cost reduction. These secular drivers haven't diminished. If anything, they have intensified The evolving trade and tariff landscape, while creating new-term complexity, ultimately reinforced the strategic value proposition of localized, flexible manufacturing, precisely what additive delivers. We continue to engage customers on how our technologies can mitigate supply chain risks, address geopolitical issues, and reduce tariff exposure. And we believe these conversations will increasingly translate into action as companies seek resilient manufacturing strategies. Now turning to updates on customer activities that highlight the traction we are building, as well as steps we are taking to strengthen key and market exposure. Our year-over-year increase in hardware sales included a strong quarter for aerospace and defense, where we see continued progress with new customer purchases across all of our manufacturing-focused systems, such as F-3300, 770, 450, the new NEO 800+, as well as H350 and Origin systems. In commercial aviation, We secured wins with industry leaders such as Boeing, Embraer, and others, all demonstrating their continued confidence in our solutions and the critical role our technology plays in production environments for the world's leading aircraft manufacturers. Our defense business also showed strong performance as we continued to spearhead that sector with notable purchases from Honeywell, TE Connectivity, and L3 Harris. We also participated in Trident Warrior 25, the US Navy's flagship fleet experimentation exercise, where we demonstrated the critical role of distributed advanced manufacturing in enhancing military combat readiness. Together with Fleetworks and Naval Postgraduate School, we supported the DoD's largest distributed manufacturing demonstration to date, connecting assets across more than 8,000 miles. This exercise showcased our ability to provide both forward-deployed 3D printing capabilities and reach-back production through strategies direct. creating a comprehensive ecosystem that significantly reduces reliance on traditional logistics chains for mission-critical repair and replacement. During the exercise, seven different sites across the globe leveraged our printers to produce lightweight, corrosion-resistant polymer parts that met US military specifications. demonstrating faster turnaround time and lower delivered costs compared to conventional supply chains. This demonstration reinforces our position as a trusted partner for defense applications and highlights the scalable practical solution we provide to enhance mission readiness and operational resilience across thousands of miles of distributed operations. Moving to other areas, we are pleased to share that one of the world's largest US-based technology companies, a leader across social media, AI innovation, and virtual and augmented reality hardware, invested in four of our newest FDM F3300 systems during the quarter. Initially, they will be used for large-scale prototyping for their automation platforms, as well as their next-gen robot, after which they plan to use these systems to manufacture production parts for their VR and AR products. Our proven SAF powder-based technology platform continues its expansion across core verticals such as aerospace, automotive, and government. Notably, third quarter marked a significant strategic milestone with the adoption of the H350 platform by a global top three pharmaceutical company, opening the door to exciting new opportunities across medical device and drug development applications. Additionally, our collaboration with FAA The National Institute for Aviation Research has launched a comprehensive SAF characterization program involving five suppliers across key industries, positioning us to address emerging demands for drone components, aviation parts, tooling, and low volume production applications, while establishing the technical foundations for expanded adoption in this sector. In automotive, We extended our multi-year partnership with Andretti Global as the official 3D printing partner of Andretti Indica, building on a successful collaboration that dates back to 2018, where our F370 and Fortus 450MC systems have supported their engineering efforts. We are now designing an optimized 3D printing lab within Andretti's new headquarters to significantly enhance their additive manufacturing capabilities. This partnership demonstrates the real-world performance advantages our technology delivers in demanding motorsport environments, where faster turnaround times, complex geometries, and higher quality parts are essential for competitive success. Now, turning to dental. We are enthused about the strategic investments we are making in our true dent and related solution to accelerated growth in this important vertical. Most notably during the quarter, we welcome Chris Cabot as VP and Global Head of Dental. Chris brings exceptional credential as one of the world's leader in digital dentistry and additive manufacturing. combining clinical, technical, and commercial expertise. His recent role at Affordable Care, the largest denture manufacturer in the US, along with his track record of driving dental additive leadership, positions us exceptionally well for the opportunities ahead. To enhance our dental portfolio, we launched our SoftRelax post-processing solution. helping dental operators reduce manual labor by 90% while minimizing the use of harmful chemicals. We are also proud to be among the first dental additive companies to proactively remove TPO, a common but controversial toxic chemical from all our dental resins, reinforcing our commitment to patient safety and sustainability. With that, I will turn the call to Eitan to review our financials. Eitan?