3D Systems Reports Third Quarter 2020 Financial Results

Unaudited Condensed Consolidated Balance Sheets
September 30, 2020 and December 31, 2019

(In thousands, except par value) September 30,
2020
  December 31,
2019
ASSETS      
Current assets:      
Cash and cash equivalents $ 75,264     $ 133,665  
Accounts receivable, net of reserves — $8,243 and $8,762 98,755     109,408  
Inventories 126,882     111,106  
Prepaid expenses and other current assets 34,671     18,991  
Total current assets 335,572     373,170  
Property and equipment, net 81,433     92,940  
Intangible assets, net 36,888     48,338  
Goodwill 179,536     223,176  
Right of use assets 44,366     36,890  
Deferred income tax asset 6,502     5,408  
Other assets, net 22,985     27,390  
Total assets $ 707,282     $ 807,312  
LIABILITIES AND EQUITY      
Current liabilities:      
Current portion of long-term debt $ 1,758     $ 2,506  
Current right of use liabilities 9,431     9,569  
Accounts payable 41,674     49,851  
Accrued and other liabilities 66,749     63,095  
Customer deposits 4,463     5,712  
Deferred revenue 36,353     32,231  
Total current liabilities 160,428     162,964  
Long-term debt, net of deferred financing costs 19,804     45,215  
Long-term right of use liabilities 44,521     35,402  
Deferred income tax liability 5,121     4,027  
Other liabilities 48,890     45,808  
Total liabilities 278,764     293,416  
Commitments and contingencies      
Stockholders’ equity:      
Common stock, $0.001 par value, authorized 220,000 shares; issued 127,664 and 121,266 128     120  
Additional paid-in capital 1,404,265     1,371,564  
Treasury stock, at cost — 3,456 shares and 3,670 shares (22,590 )   (18,769 )
Accumulated deficit (923,473 )   (793,709 )
Accumulated other comprehensive loss (29,812 )   (37,047 )
Total 3D Systems Corporation stockholders' equity 428,518     522,159  
Noncontrolling interests     (8,263 )
Total stockholders’ equity 428,518     513,896  
Total liabilities, redeemable noncontrolling interests and stockholders’ equity $ 707,282     $ 807,312  
               

3D Systems Corporation

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