ROCK HILL, S.C., May 08, 2023 (GLOBE NEWSWIRE) -- 3D Systems Corporation (NYSE:DDD) announced today its financial results for the first quarter ended March 31, 2023.
First Quarter Financial Results and Recent Business Highlights
(All numbers are unaudited and are presented in thousands, except per share amounts or as otherwise noted)
- Q1 2023 revenue of $121,236 decreased 8.8% compared to Q1 2022 a decrease of 6.5% on a constant currency basis (1)
- Revenue performance reflects continued weakness in the dental orthodontics market, partially offset by strong double-digit growth in medical and industrial markets on a constant currency basis
- Net loss of $29,421, diluted loss per share of $0.23, and diluted non-GAAP loss per share (2) of $0.09
- Negative Adjusted EBITDA (2) of $10,094 reflects impacts of lower total sales volume, inflationary impacts on our input costs, and continued investments in future growth
- Confirming annual revenue guidance of $545-$575 million and raising Adjusted EBITDA
(2) guidance to greater than $2 million
| Three Months Ended March 31, | ||||||||
| (in thousands, except per share data) | 2023 | 2022 | ||||||
| Revenue | $ | 121,236 | $ | 133,001 | ||||
| Operating (loss) | $ | (33,396 | ) | $ | (23,232 | ) | ||
| Net (loss) income | $ | (29,421 | ) | $ | (26,799 | ) | ||
| Basic (loss) income per share | $ | (0.23 | ) | $ | (0.21 | ) | ||
| Diluted (loss) income per share | $ | (0.23 | ) | $ | (0.21 | ) | ||
| Non-GAAP measures for year-over-year comparisons:(2) | ||||||||
| Non-GAAP gross profit margin | 39.0 | % | 40.6 | % | ||||
| Adjusted EBITDA | $ | (10,094 | ) | $ | 1,923 | |||
| Non-GAAP diluted (loss) income per share | $ | (0.09 | ) | $ | (0.06 | ) | ||
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