REGISTERED NUMBER: 11389105 (England and Wales)

STRATASYS POWDER PRODUCTION LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

9,227,742

11,119,157

Tangible assets

5

1,774,757

1,096,828

11,002,499

12,215,985

CURRENT ASSETS

Stocks

1,206,434

1,750,301

Debtors

6

6,468,576

3,356,203

Cash at bank

191,630

2,413,210

7,866,640

7,519,714

CREDITORS

Amounts falling due within one year

7

64,961,990

48,687,566

NET CURRENT LIABILITIES

(57,095,350

)

(41,167,852

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(46,092,851

)

(28,951,867

)

CREDITORS

Amounts falling due after more than one year

8

5,694,550

8,710,386

NET LIABILITIES

(51,787,401

)

(37,662,253

)

CAPITAL AND RESERVES

Called up share capital

32

32

Share premium

21,496,106

21,496,106

Other reserves

10,192

10,192

Retained earnings

(73,293,731

)

(59,168,583

)

SHAREHOLDERS' FUNDS

(51,787,401

)

(37,662,253

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

Mr J Weichert - Director

1.	STATUTORY INFORMATION

Stratasys Powder Production Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

11389105

Registered office:

Units 5-6, William Lee Buildings

Science Park

Nottingham

United Kingdom

NG7 2RQ

The presentation currency of the financial statements is the US Dollar ($).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

Going concern

The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

The company made a loss of $14,216k (2023: $20,920k) for the year ended 31 December 2024 and has net liabilitiesof $51,787k (2023: $37,662k) at 31 December 2024. The directors have received a formal letter of support from the company's ultimate parent undertaking, Stratasys Limited, guaranteeing continued financial support to enable the company to meet its liabilities as they fall due for the foreseeable future.

On the basis of their assessment of the company’s financial position and after confirmations received from the directors of Stratasys Limited, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover

Turnover is derived from wholesale of other machinery and equipment, business and domestic software development, engineering related scientific and technical consulting activities and is recognised when the goods are delivered to the customer. Turnover is recorded at the fair value of the consideration received or receivable, and excludes value added tax and rebates.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Intangible fixed assets and amortisation - other intangible

Other intangible assets relate to royalties, and software & licences. Costs incurred in maintaining the patent and trademark portfolio are written off to the profit and loss accounts as incurred. Payments in respect of software and licence rights acquired are capitalised at cost and amortised on a straight -line basis over an estimated economic life of 7 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

over the term of the lease

Plant and machinery

-

3 to 20 years

Stocks and work in progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and

liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their expected useful economic lives, which range from 3 to 6 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

Development

Royalties

licences

costs

Totals

$

$

$

$

COST

At 1 January 2024

10,492,420

6,825,113

238,853

17,556,386

Additions

-

335,488

-

335,488

At 31 December 2024

10,492,420

7,160,601

238,853

17,891,874

AMORTISATION

At 1 January 2024

3,436,511

2,884,285

116,433

6,437,229

Amortisation for year

1,411,182

790,721

25,000

2,226,903

At 31 December 2024

4,847,693

3,675,006

141,433

8,664,132

NET BOOK VALUE

At 31 December 2024

5,644,727

3,485,595

97,420

9,227,742

At 31 December 2023

7,055,909

3,940,828

122,420

11,119,157

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

property

machinery

Totals

$

$

$

COST

At 1 January 2024

873,674

653,833

1,527,507

Additions

43,106

954,541

997,647

Disposals

-

(8,807

)

(8,807

)

At 31 December 2024

916,780

1,599,567

2,516,347

DEPRECIATION

At 1 January 2024

209,775

220,904

430,679

Charge for year

161,031

150,847

311,878

Eliminated on disposal

-

(967

)

(967

)

At 31 December 2024

370,806

370,784

741,590

NET BOOK VALUE

At 31 December 2024

545,974

1,228,783

1,774,757

At 31 December 2023

663,899

432,929

1,096,828

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

$

$

Trade debtors

6,415,894

3,276,977

Other debtors

52,682

79,226

6,468,576

3,356,203

Amounts due from group undertakings are interest free and repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

$

$

Trade creditors

157,961

93,111

Taxation and social security

34,557

146,566

Other creditors

64,769,472

48,447,889

64,961,990

48,687,566

Amounts owed to group undertakings are interest free and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

$

$

Other creditors

5,694,550

8,710,386

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

$

$

Within one year

128,712

128,712

Between one and five years

353,568

353,568

In more than five years

63,888

192,600

546,168

674,880

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Domenico Maurello (Senior Statutory Auditor)

for and on behalf of Keelings Limited

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption under paragraph 33.1A of FRS102 from disclosing transactions with subsidiaries which are wholly owned within the same parent group (Stratasys Limited). Balances with group companies are disclosed in the debtors and creditors notes.

12.	ULTIMATE CONTROLLING PARTY

The company's immediate parent undertaking is Stratasys Solutions Limited, a company incorporated in England and Wales. The ultimate controlling party is Stratasys Limited who controls 100% of the shares of Stratasys Powder Production Ltd.

The largest and smallest group in which the results of the company are consolidated is that headed by Stratasys Limited, a company traded on NASDAQ. Copies of Stratasys Limited consolidated financial statements may be obtained from their website, www.stratasys.com.