3D Systems Reports Third Quarter 2021 Financial Results

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

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