3D Systems Reports Third Quarter 2024 Financial Results

 
3D Systems Corporation
Unaudited Condensed Consolidated Statements of Operations
Three and Nine Months Ended September 30, 2024 and 2023
 
  Three Months Ended  Nine Months Ended
(in thousands, except per share amounts) September 30, 2024  September 30, 2023  September 30, 2024  September 30, 2023
Revenue:       
Products$72,968  $80,415  $208,752  $253,968 
Services 39,972   43,376   120,345   119,253 
Total revenue 112,940   123,791   329,097   373,221 
Cost of sales:       
Products 47,533   47,427     129,571       153,442  
Services   23,694       21,014       69,793       67,315  
Total cost of sales   71,227       68,441       199,364       220,757  
Gross profit   41,713       55,350       129,733       152,464  
Operating expenses:              
Selling, general and administrative   57,974       33,355       166,772       150,623  
Research and development   20,764       21,982       66,260       66,953  
Asset impairment charges   143,733       13,597       143,733       13,597  
Total operating expenses   222,471       68,934       376,765       231,173  
Loss from operations   (180,758 )     (13,584 )     (247,032 )     (78,709 )
Non-operating income (expense):              
Foreign exchange loss, net   (1,960 )     (2,202 )     (774 )     (3,847 )
Interest income   1,550       5,841       5,800       15,730  
Interest expense   (606 )     (932 )     (1,944 )     (2,612 )
Other (loss) income, net   (51 )     (105 )     21,719       420  
Total non-operating (loss) income   (1,067 )     2,602       24,801       9,691  
Loss before income taxes   (181,825 )     (10,982 )     (222,231 )     (69,018 )
Benefit (provision) for income taxes   4,343       (174 )     2,496       (404 )
Loss on equity method investment, net of income taxes   (1,254 )     (605 )     (2,403 )     (747 )
Net loss before redeemable non-controlling interest   (178,736 )     (11,761 )     (222,138 )     (70,169 )
Less: net loss attributable to redeemable non-controlling interest   (109 )     (57 )     (252 )     (149 )
Net loss attributable to 3D Systems Corporation $ (178,627 )   $ (11,704 )   $ (221,886 )   $ (70,020 )
               
Net loss per common share:              
Basic $ (1.35 )   $ (0.09 )   $ (1.69 )   $ (0.54 )
Diluted $ (1.35 )   $ (0.09 )   $ (1.69 )   $ (0.54 )
               
Weighted average shares outstanding:              
Basic   132,235       130,263       131,621       129,780  
Diluted   132,235       130,263       131,621       129,780  



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