ROCK HILL, S.C., Feb. 27, 2024 (GLOBE NEWSWIRE) -- 3D Systems Corporation (NYSE:DDD) announced today its financial results for the fourth quarter and full year ended December 31, 2023. Fourth Quarter Financial Results (Unaudited)(All numbers are unaudited and are presented in thousands, except per share amounts or otherwise noted) Q4 2023 revenue of $114,848 decreased 13.5% compared to Q4 2022 due to significant softness in dental orthodontics and depressed printer sales from delayed customer capex investme ...

Revenue Performance - Q4 2023 revenue was $114,848, a decrease of 13.5% compared to Q4 2022, primarily due to softness in dental orthodontics and delayed customer capex investments [2]. - Full year 2023 revenue totaled $488,069, down 9.3% from $538,031 in 2022, driven by lower sales in dental orthodontics and slower printer hardware sales [3]. - Total revenue for 2023 was $488.1 million, a decrease of 9.3% from $538.0 million in 2022 [27]. - Total revenue for Q4 2023 was $114,848, a decrease of 13.5% from $132,732 in Q4 2022 [29]. Profitability and Margins - Q4 2023 gross profit margin was 40.4%, while Non-GAAP gross profit margin increased to 41.9% from 40.9% in the prior year [8]. - Gross profit for 2023 was $198.8 million, representing a gross profit margin of 40.7%, compared to $214.2 million and 39.8% in 2022 [27]. - GAAP gross profit for 2023 was $198,812 thousand, with a gross profit margin of 40.7%, compared to $214,233 thousand and 39.8% in 2022 [35]. - Non-GAAP gross profit for 2023 was $200,745 thousand, with a gross profit margin of 41.1%, compared to $214,247 thousand and 39.8% in 2022 [35]. Net Loss and Expenses - The net loss for Q4 2023 was $300,412, significantly higher than the loss of $25,553 in Q4 2022, largely due to a non-cash impairment of goodwill [8]. - The net loss attributable to 3D Systems Corporation for 2023 was $370.4 million, compared to a net loss of $122.7 million in 2022 [27]. - The net loss attributable to 3D Systems Corporation for Q4 2023 was $(300,412), compared to a net loss of $(25,553) in Q4 2022 [29]. - Operating expenses surged to $613.1 million in 2023, up from $331.3 million in 2022, primarily due to $311.3 million in impairment charges [27]. - Operating expenses for Q4 2023 totaled $381,942, significantly higher than $82,674 in Q4 2022, primarily due to impairments of goodwill and intangible assets [29]. Cash and Balance Sheet - Cash and cash equivalents as of December 31, 2023, were $331,525, down $237,212 from the previous year, primarily due to the repurchase of Convertible Notes [13]. - Cash and cash equivalents decreased to $331.5 million as of December 31, 2023, down from $388.1 million a year earlier [25]. - The company reported a cash balance of $333,111 at the end of 2023, down from $391,975 at the end of 2022 [30]. - Total assets decreased significantly to $980.2 million in 2023 from $1.4 billion in 2022 [25]. - Long-term debt decreased to $319.4 million in 2023, down from $449.5 million in 2022 [25]. Future Outlook - For 2024, the company expects revenue guidance of $475 million to $505 million, with a Non-GAAP gross profit margin target of 42% to 44% [12]. - The company plans to prioritize restructuring efforts, including headcount reductions and site consolidations, to improve gross margins and achieve positive adjusted EBITDA in 2024 [6]. - Future outlook includes continued focus on product development and market expansion strategies [36]. Segment Performance - Healthcare Solutions revenue decreased by 18.3% to $213,216 in 2023, while Industrial Solutions revenue decreased by 0.8% to $274,853 [9]. - Healthcare Solutions revenue for Q4 2023 was $51,188, a decrease of 15.7% from $60,694 in Q4 2022 [32]. - Industrial Solutions revenue for Q4 2023 was $63,660, down 11.6% from $72,038 in Q4 2022 [32]. Adjusted Metrics - Adjusted EBITDA for Q4 2023 was a loss of $12,260, a decrease of $7,452 compared to the same period last year [8]. - Adjusted EBITDA for the year ended 2023 was $(24,525) thousand, compared to $(5,781) thousand for the year ended 2022 [37]. - Non-GAAP diluted loss per share for Q4 2023 was $(2.30), compared to $(0.20) for Q4 2022 [39].

3D Systems (DDD) is set to report its fourth-quarter 2023 results on Feb 28.The Zacks Consensus Estimate for the bottom line is pegged at break-even, unchanged over the past 30 days. 3D Systems reported a loss of 6 cents per share in the year-ago quarter.The company’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, missing in one and matching in the remaining quarter, the average surprise being 32.29%.Let’s see how things have shaped up before this announcement.Factors to No ...

ROCK HILL, S.C., Feb. 14, 2024 (GLOBE NEWSWIRE) -- 3D Systems (NYSE:DDD) announced today it will release its financial results for the fourth quarter and full year 2023 after the U.S. stock markets close on Tuesday, February 27, 2024. The company will hold a conference call and simultaneous webcast to discuss these financial results on Wednesday, February 28, 2024 at 8:30 a.m. Eastern Time. Fourth Quarter and Full Year 2023 Financial Results Conference CallDate: Wednesday, February 28, 2024Time: 8:30 a.m. E ...

HOUSTON, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Systemic Bio™, a 3D Systems (NYSE:DDD) company, is excited to announce the acceptance of two abstracts for presentation at the prestigious Society of Toxicology (SOT) 2024 Annual Meeting (Salt Lake City, March 10-14, 2024) and American Association for Cancer Research (AACR) 2024 Annual Meeting (San Diego, April 5-10, 2024). At the SOT 2024 meeting, Systemic Bio will present its latest research on an advanced liver model that demonstrates several-fold enhanced album ...

Summary of 3D Systems Corporation Conference Call Company Overview - **Company**: 3D Systems Corporation (NYSE: DDD) - **Date**: January 17, 2024 - **Participants**: CEO Jeff Graves, CFO Jeff Creech, VP of Investor Relations Mick Key Points Industry Dynamics - The 3D printing industry is experiencing a significant shift from prototyping to production, with factory managers becoming the primary customer base [6][10] - The industry is moving towards higher volume applications in sectors like automotive and consumer electronics, driven by improved economics and machine reliability [7][10] - There is a need for industry consolidation to achieve the scale necessary to service large factory customers effectively [9][11] Company Strategy and Changes - 3D Systems has refocused on being a 3D printing manufacturer, divesting non-core businesses and paying off debt to streamline operations [13][15] - The company has made strategic acquisitions to enhance its hardware portfolio and fill product line gaps [16][22] - The business model emphasizes high-touch sales, helping customers understand and implement 3D printing in their operations [18][19] Financial Performance - Industrial markets contributed approximately 55-57% of revenues, showing modest growth despite a challenging economic environment [21][24] - The healthcare segment accounts for over 40% of revenues, with significant reliance on a single customer in the clear aligner market [30][32] - The company has faced a 45% revenue decline from its largest healthcare customer due to decreased consumer demand post-COVID [29][32] Market Opportunities - The semiconductor equipment manufacturing sector is highlighted as a growth area, with 3D printing offering significant cost and efficiency advantages [23][24] - The metal casting market is also identified as a promising area for 3D printing applications [25] - The dental market is rapidly transitioning to digital manufacturing, with 3D printing expected to dominate in the near future [36][38] Regenerative Medicine - 3D Systems is exploring regenerative medicine, including the potential to print human organs, with significant R&D investments [41][48] - The company has made progress in printing complex structures and is working with United Therapeutics on lung printing technology [42][43] - Two contracts with major pharmaceutical companies have been secured to validate the technology for drug testing applications [47][50] Challenges and Outlook - The company acknowledges the impact of high interest rates and economic uncertainty on customer capital spending [63][64] - Despite these challenges, 3D Systems aims to achieve profitability and cash generation through restructuring and cost management [65][66] - The focus remains on scaling the core business while investing in high-potential areas like regenerative medicine and personalized healthcare solutions [64][65] Capital Allocation - The company has repurchased $135 million of convertible senior notes to manage debt and maintain financial flexibility [70][72] - 3D Systems is open to pursuing larger acquisitions that can provide scale, while being cautious about smaller, less strategic investments [72][73] Conclusion 3D Systems Corporation is navigating a transformative phase in the 3D printing industry, focusing on production applications and strategic growth areas while managing economic challenges. The company's commitment to innovation in healthcare and regenerative medicine positions it for future opportunities, despite current market headwinds.

3D Systems Corporation (NYSE:DDD) 26th Annual Needham Growth Virtual Conference Call January 17, 2024 1:30 PM ET Company Participants Jeff Graves - Chief Executive Officer Jeff Creech - Chief Financial Officer Conference Call Participants Jim Ricchiuti - Needham & Company Jim Ricchiuti Good afternoon, everybody. Thanks for joining us again at the 26th Annual Needham Growth Conference. Today, we're going to have a discussion with the management of 3D Systems. We have with us today company CEO, Jeff Graves; J ...

ROCK HILL, S.C., Jan. 08, 2024 (GLOBE NEWSWIRE) -- 3D Systems (NYSE:DDD) announced today that management will participate in the 26th Annual Needham Growth Conference on January 17, 2024. President and CEO, Dr. Jeffrey Graves will participate in a fireside chat at 1:30 p.m. Eastern Standard Time and will participate in individual meetings alongside members of the company's leadership team throughout the day. A live webcast of the conference presentation will be available on 3D Systems' Investor Relations pa ...

3D Systems Corporation (NYSE:DDD) Q3 2023 Earnings Conference Call November 8, 2023 8:30 AM ET Company Participants Mick McCloskey - Vice President, Treasurer and Investor Relations Jeffrey Graves - President and Chief Executive Officer Andrew Johnson - Executive Vice President and Interim Chief Financial Officer Conference Call Participants Danny Eggerichs - Craig-Hallum Capital Group Tyler Hutin - William Blair Jacob Stephan - Lake Street Capital Markets Troy Jensen - Cantor Fitzgerald Operator Hello and ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________ Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol Name of each exchange on which registered Common Stock, par value $0.001 per share DDD New York Stock Exchange FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SEC ...