3D Systems Reports Second Quarter 2020 Financial Results

Presentation of Information in this Press Release
To facilitate a better understanding of the impact that strategic acquisitions, non-recurring charges and certain non-cash expenses had on its financial results, the company reported non-GAAP measures excluding the impact of amortization of intangibles, acquisition and severance expenses, stock-based compensation expense, litigation settlements and charges related to strategic decisions and portfolio realignment. A reconciliation of GAAP to non-GAAP results is provided in the accompanying schedule.

About 3D Systems
More than 30 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading Additive Manufacturing solutions partner, we bring innovation, performance, and reliability to every interaction - empowering our customers to create products and business models never before possible. Thanks to our unique offering of hardware, software, materials and services, each application-specific solution is powered by the expertise of our application engineers who collaborate with customers to transform how they deliver their products and services. 3D Systems’ solutions address a variety of advanced applications in Healthcare and Industrial markets such as Medical and Dental, Aerospace & Defense, Automotive and Durable Goods. More information on the company is available at www.3dsystems.com

Tables Follow

3D Systems Corporation
Unaudited Condensed Consolidated Balance Sheets
June 30, 2020 and December 31, 2019

*(In thousands, except par value)*	June 30, 2020			December 31, 2019
ASSETS
Current assets:
Cash and cash equivalents	$	63,922		$	133,665
Accounts receivable, net of reserves — $9,408 and $8,762	97,708			109,408
Inventories	125,077			111,106
Prepaid expenses and other current assets	38,737			18,991
Total current assets	325,444			373,170
Property and equipment, net	85,727			92,940
Intangible assets, net	40,269			48,338
Goodwill	221,446			223,176
Right of use assets	48,043			36,890
Deferred income tax asset	5,327			5,408
Other assets, net	24,955			27,390
Total assets	$	751,211		$	807,312
LIABILITIES AND EQUITY
Current liabilities:
Current portion of long-term debt	$	1,465		$	2,506
Current right of use liabilities	9,760			9,569
Accounts payable	52,172			49,851
Accrued and other liabilities	63,003			63,095
Customer deposits	4,749			5,712
Deferred revenue	39,499			32,231
Total current liabilities	170,648			162,964
Long-term debt, net of deferred financing costs	20,063			45,215
Long-term right of use liabilities	46,339			35,402
Deferred income tax liability	3,275			4,027
Other liabilities	47,458			45,808
Total liabilities	287,783			293,416
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.001 par value, authorized 220,000 shares; issued 124,252 and 121,266	124			120
Additional paid-in capital	1,377,468			1,371,564
Treasury stock, at cost — 4,543 shares and 3,670 shares	(22,590		)	(18,769		)
Accumulated deficit	(850,584		)	(793,709		)
Accumulated other comprehensive loss	(40,990		)	(37,047		)
Total 3D Systems Corporation stockholders' equity	463,428			522,159
Noncontrolling interests	—			(8,263		)
Total stockholders’ equity	463,428			513,896
Total liabilities, redeemable noncontrolling interests and stockholders’ equity	$	751,211		$	807,312

3D Systems Corporation

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