3D Systems Reports Third Quarter 2024 Financial Results


Tables Follow
 
 
3D Systems Corporation
Unaudited Condensed Consolidated Balance Sheets
September 30, 2024 and December 31, 2023
 
(in thousands, except par value) September 30, 2024  December 31, 2023
ASSETS   
Current assets:   
Cash and cash equivalents$190,005  $331,525 
Accounts receivable, net of reserves — $2,137 and $3,389 99,224   101,497 
Inventories 134,926   152,188 
Prepaid expenses and other current assets 35,858   42,612 
Total current assets 460,013   627,822 
Property and equipment, net 53,907   64,461 
Intangible assets, net 20,961   62,724 
Goodwill 14,967   116,082 
Operating lease right-of-use assets 49,384   58,406 
Finance lease right-of-use assets  9,185       12,174  
Long-term deferred income tax assets   4,041       4,230  
Other assets   45,818       44,761  
Total assets $ 658,276     $ 990,660  
LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST AND EQUITY      
Current liabilities:      
Current operating lease liabilities $ 9,628     $ 9,924  
Accounts payable   42,414       49,757  
Accrued and other liabilities   44,882       49,460  
Customer deposits   8,655       7,599  
Deferred revenue   33,336       30,448  
Total current liabilities   138,915       147,188  
Long-term debt, net of deferred financing costs   211,682       319,356  
Long-term operating lease liabilities   51,000       56,795  
Long-term deferred income tax liabilities   5,214       5,162  
Other liabilities   31,340       33,400  
Total liabilities   438,151       561,901  
Commitments and contingencies      
Redeemable non-controlling interest   2,093       2,006  
Stockholders’ equity:      
Common stock, $0.001 par value, authorized 220,000 shares; shares issued 134,826 and 133,619 as of September 30, 2024 and December 31, 2023, respectively   135       134  
Additional paid-in capital   1,588,911       1,577,519  
Accumulated deficit   (1,328,536 )     (1,106,650 )
Accumulated other comprehensive loss   (42,478 )     (44,250 )
Total stockholders’ equity   218,032       426,753  
Total liabilities, redeemable non-controlling interest and stockholders’ equity $ 658,276     $ 990,660  



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