ROCK HILL, S.C., Aug. 08, 2022 (GLOBE NEWSWIRE) --
3D Systems Corporation (NYSE:DDD) announced today its financial results for the second quarter ended June 30, 2022.
Second Quarter Financial and Operational Results
- Q2 2022 revenue of $140.0 million declined 13.8% compared to Q2 2021; Q2 non-GAAP revenue excluding divestitures and on a constant currency basis(1) increased 7.8%, reflecting solid demand in both the Industrial and Healthcare segments despite supply chain and macroeconomic challenges
- First half 2022 revenue of $273.0 million declined 11.5% compared to first half 2021; first half 2022 non-GAAP revenue excluding divestitures and on a constant currency basis increased 10.4%
- Q2 2022 diluted GAAP loss per share of $0.26, and diluted non-GAAP loss per share(1) of $0.07
- Q2 2022 adjusted EBITDA(1) of ($2.6) million reflects inflationary impacts on input costs and continued investments in growth areas of our business and product portfolio
- Cash & short-term investments of $638.2 million position the company for future growth investments
- Reduced FY 2022 guidance reflects the continued risk of foreign exchange, inflation and softer discretionary spending in selected end markets due to macroeconomic challenges
| Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | ||||||
| Revenue Growth Rates (%) as reported | (13.8 | ) | % | (11.5 | ) | % | |
| Non-GAAP Revenue Growth Rates (%) excluding divestitures | 3.2 | % | 6.5 | % | |||
| Non-GAAP Revenue Growth Rates (%) excluding divestitures and FX effects | 7.8 | % | 10.4 | % | |||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| (in millions, except per share data) | 2022 | 2021 | 2022 | 2021 | |||||||||||
| Revenue | $ | 140.0 | $ | 162.6 | $ | 273.0 | $ | 308.7 | |||||||
| Operating loss | $ | (32.0 | ) | $ | (10.1 | ) | $ | (55.3 | ) | $ | (12.0 | ) | |||
| Net (loss) income | $ | (33.0 | ) | $ | (9.6 | ) | $ | (59.8 | ) | $ | 35.6 | ||||
| Net (loss) income per share - diluted | $ | (0.26 | ) | $ | (0.08 | ) | $ | (0.47 | ) | $ | 0.28 | ||||
| Non-GAAP measures for year-over-year comparisons (excluding divestitures) (1) | |||||||||||||||
| Non-GAAP Revenue | $ | 140.0 | $ | 135.6 | $ | 273.0 | $ | 256.4 | |||||||
| Non-GAAP operating (loss) income | $ | (7.6 | ) | $ | 7.3 | $ | (11.5 | ) | $ | 15.4 | |||||
| Non-GAAP net (loss) income | $ | (8.5 | ) | $ | 8.0 | $ | (15.6 | ) | $ | 23.5 | |||||
| Non-GAAP (loss) income per share - diluted | $ | (0.07 | ) | $ | 0.06 | $ | (0.12 | ) | $ | 0.19 | |||||
| Adjusted EBITDA | $ | (2.6 | ) | $ | 12.9 | $ | (0.6 | ) | $ | 26.8 | |||||
