Why Is 3D Systems (DDD) Up 20.7% Since Last Earnings Report?

Core Viewpoint - 3D Systems reported a loss in Q3 2024 with revenues declining year over year, missing consensus estimates, and facing challenges in printer sales due to macroeconomic factors [2][11][12]. Financial Performance - Revenues for Q3 2024 were $112.9 million, down 8.8% year over year, and below the Zacks Consensus Estimate of$ 120 million [2]. - Product revenues decreased by 9.3% year over year to $73 million, accounting for 64.6% of total revenues [3]. - Healthcare revenues increased by 5% year over year to$ 55.1 million, driven by growth in Dental and Personalized Healthcare solutions [4]. - Services revenues fell by 7.8% year over year to $40 million, representing 35.4% of total revenues [13]. - The Industrial Division's revenues dropped 18.9% year over year to$ 57.9 million, although the Application Innovation Group saw a 26% revenue increase [14]. - Non-GAAP gross profit fell 23.4% year over year to $42.5 million, with a gross profit margin decline of 720 basis points to 37.6% [5]. - Adjusted EBITDA decreased by$ 19.1 million year over year to a loss of $14.3 million [15]. Balance Sheet and Guidance - As of September 30, 2024, total debt was$ 211.7 million, slightly up from $211.4 million as of June 30, 2024 [6]. - Cash and cash equivalents were$ 190 million, down from $192.7 million as of June 30, 2024 [16]. - For 2024, the company expects revenues between$ 440 million and $450 million [7]. - The non-GAAP gross profit margin for 2024 is projected to be between 38-40% [18]. Market Sentiment and Estimates - The consensus estimate has shifted downwards by 40.91% due to recent performance [8]. - The stock has an aggregate VGM Score of F, indicating poor performance across various investment strategies [9]. - 3D Systems has a Zacks Rank of 4 (Sell), suggesting expectations of below-average returns in the coming months [20].