ROCK HILL, S.C., Nov. 08, 2021 (GLOBE NEWSWIRE) --
3D Systems Corporation (NYSE:DDD) announced today its financial results for the third quarter ended September 30, 2021.
Third Quarter Financial and Operational Results
- Revenue of $156.1 million reflects double-digit growth versus third quarter 2020
- Revenue adjusted for divestitures (1) was 35.9% higher and 21.2% higher than third quarter 2020 and pre-pandemic third quarter 2019, respectively – reflecting the continued strong growth momentum of the business
- Increasing revenue and sustained cost management drove strong profitability, with adjusted EBITDA margin of 10.5%; diluted GAAP earnings per share of $2.34, which includes gains from divestitures, and diluted Non-GAAP earnings per share of $0.08 (1)
- Financial performance yielded positive operating cash flow of $20.7 million, the fourth consecutive quarter of positive cash flow from operations
- Closed on previously announced divestitures, increasing cash on the balance sheet to $502.8 million with no debt
- Two recently announced acquisitions, Oqton, closed on November 1, and Volumetric Biotechnologies, anticipated to close in the fourth quarter 2021, are expected to position the company for continued high-margin growth
| Quarter Ended September 30, | ||||||||||
| (in millions, expect per share data) | 2021 | 2020 | ||||||||
| Revenue | $ | 156.1 | $ | 136.2 | ||||||
| Operating loss | $ | (17.2 | ) | $ | (67.6 | ) | ||||
| Net income (loss) | $ | 292.7 | $ | (72.9 | ) | |||||
| Net income (loss) per share - basic | $ | 2.39 | $ | (0.61 | ) | |||||
| Net income (loss) per share - diluted | $ | 2.34 | $ | (0.61 | ) | |||||
| Non-GAAP measures for year-over-year comparisons (1) | ||||||||||
| Non-GAAP operating income (loss) | $ | 10.6 | $ | — | ||||||
| Non-GAAP net income (loss) | $ | 10.0 | $ | (4.1 | ) | |||||
| Non-GAAP income (loss) per share - basic | $ | 0.08 | $ | (0.03 | ) | |||||
| Non-GAAP income (loss) per share - diluted | $ | 0.08 | $ | (0.03 | ) | |||||
| Adjusted EBITDA | $ | 16.3 | $ | 7.2 | ||||||
