3D Systems Reports First Quarter 2021 Financial Results

3D Systems Corporation
Loss Per Share
Quarter Ended March 31, 2021 and 2020

  Quarter Ended March 31,
(in thousands, except per share amounts) 2021  2020
Numerator:   
Net income (loss)$45,228  $(18,924) 
Denominator:   
Weighted average shares - basic121,705  114,590  
Dilutive securities3,365    
Weighted average shares - diluted125,070  114,590  
    
Net income (loss) per share - basic$0.37  $(0.17) 
Net income (loss) per share - diluted$0.36  $(0.17) 

Appendix
3D Systems Corporation
Unaudited Reconciliations of GAAP to Non-GAAP Measures
Quarter Ended March 31, 2021 and 2020

  Quarter Ended March 31,
(in millions) 2021  2020
GAAP Revenue - as reported $ 146.1       $ 135.6    
Non-GAAP Revenue 146.1       135.6    
GAAP Cost of sales - as reported 81.9       78.5    
Amortization, stock-based compensation & other 0.1       0.1    
Legal, acquisition and divestiture related       0.1    
Cost optimization plan, including severance costs       0.7    
Non-GAAP Cost of sales 81.9       77.7    
GAAP Gross Profit - as reported 64.2       57.1    
Amortization, stock-based compensation & other 0.1       0.1    
Legal, acquisition and divestiture related       0.1    
Cost optimization plan, including severance costs       0.7    
Non-GAAP Gross Profit 64.3       58.0    
GAAP Gross Profit Margin 44.0    %   42.1    %
Non-GAAP Gross Profit Margin 44.0    %   42.7    %
GAAP Selling, general and administrative - as reported 49.6       56.1    
Amortization, stock-based compensation & other 13.3       10.6    
Legal, acquisition and divestiture related 0.5       0.2    
Cost optimization plan, including severance costs 1.0       1.5    
Non-GAAP Selling, general and administrative 34.6       43.9    
GAAP Research and development - as reported 16.6       19.2    
Cost optimization plan, including severance costs       0.1    
Non-GAAP Research and development 16.6       19.1    
GAAP Operating Expenses - as reported 66.2       75.3    
Amortization, stock-based compensation & other 13.3       10.6    
Legal, acquisition and divestiture related 0.5       0.2    
Cost optimization plan, including severance costs 1.0       1.6    
Non-GAAP Operating expenses 51.2       63.0    
GAAP Operating Income (loss) - as reported (2.0 )     (18.2 )  
Amortization, stock-based compensation & other 13.4       10.7    
Legal, acquisition and divestiture related 0.5       0.2    
Cost optimization plan, including severance costs 1.0       2.3    
Non-GAAP Operating Income (loss) 13.1       (5.0 )  
Depreciation 6.7       7.3    
Adjusted EBITDA 19.8       2.2    
GAAP Other Income and expense, net - as reported 38.9       (2.6 )  
Legal, acquisition and divestiture related (39.4 )     0.1    
Impairment of cost-method investments       1.1    
Non-GAAP Other Income and expense, net (0.5 )     (1.3 )  
GAAP Net Income (loss) - as reported 45.2       (18.9 )  
Amortization, stock-based compensation & other 13.4       10.7    
Legal, acquisition and divestiture related (38.9 )     0.4    
Cost optimization plan, including severance costs 1.0       2.3    
Impairment of cost-method investments       1.1    
Non-GAAP Net Income (loss) $ 20.9       $ (4.5 )  

3D Systems Corporation

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