| (a) | The amounts for cash and cash equivalents shown above include restricted cash of $626 and $967 as of June 30, 2021 and 2020, respectively, and $540 and $952 as of December 31, 2020, and 2019, respectively, which were included in Other assets, net, and $9,161 as of December 31, 2020, which was included in Current assets held for sale in the condensed consolidated balance sheets. |
3D Systems Corporation
Loss Per Share
Quarter Ended June 30, 2021 and 2020
| Quarter Ended June 30, | |||||||
| (in thousands, except per share amounts) | 2021 | 2020 | |||||
| Numerator: | |||||||
| Net income (loss) | $ | (9,632 | ) | $ | (37,951 | ) | |
| Denominator: | |||||||
| Weighted average shares - basic | 122,147 | 115,503 | |||||
| Dilutive securities | — | — | |||||
| Weighted average shares - diluted | 122,147 | 115,503 | |||||
| Net income (loss) per share - basic | $ | (0.08 | ) | $ | (0.33 | ) | |
| Net income (loss) per share - diluted | $ | (0.08 | ) | $ | (0.33 | ) | |
Appendix
3D Systems Corporation
Unaudited Reconciliations of GAAP to Non-GAAP Measures
Quarter and Six Month Ended June 30, 2021 and 2020
| Quarter Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||
| (in millions) | 2021 | 2020 | 2021 | 2020 | |||||||||||||||
| GAAP Revenue - as reported | $ | 162.6 | $ | 112.8 | $ | 308.7 | $ | 248.40 | |||||||||||
| Non-GAAP Revenue | 162.6 | 112.8 | 308.7 | 248.4 | |||||||||||||||
| GAAP Cost of sales - as reported | 93.6 | 77.6 | 175.4 | 156.1 | |||||||||||||||
| Amortization, stock-based compensation & other | 0.2 | 0.1 | 0.3 | 0.2 | |||||||||||||||
| Legal, acquisition and divestiture related | — | 0.1 | — | 0.2 | |||||||||||||||
| Cost optimization plan, including severance costs | — | — | — | 0.7 | |||||||||||||||
| Product end-of-life adjustment | (0.3 | ) | 10.9 | (0.4 | ) | 10.9 | |||||||||||||
| Non-GAAP Cost of sales | 93.6 | 66.5 | 175.5 | 144.2 | |||||||||||||||
| GAAP Gross Profit - as reported | 69.0 | 35.2 | 133.3 | 92.3 | |||||||||||||||
| Amortization, stock-based compensation & other | 0.2 | 0.1 | 0.3 | 0.2 | |||||||||||||||
| Legal, acquisition and divestiture related | — | 0.1 | — | 0.2 | |||||||||||||||
| Cost optimization plan, including severance costs | — | — | — | 0.7 | |||||||||||||||
| Product end-of-life adjustment | (0.3 | ) | 10.9 | (0.4 | ) | 10.9 | |||||||||||||
| Non-GAAP Gross Profit | 69.0 | 46.3 | 133.2 | 104.2 | |||||||||||||||
| GAAP Gross Profit Margin | 42.4 | % | 31.2 | % | 43.2 | % | 37.2 | % | |||||||||||
| Non-GAAP Gross Profit Margin | 42.4 | % | 41.0 | % | 43.1 | % | 41.9 | % | |||||||||||
| GAAP Selling, general and administrative - as reported | 61.5 | 52.0 | 111.1 | 108.1 | |||||||||||||||
| Amortization, stock-based compensation & other | 21.8 | 11.3 | 35.1 | 21.9 | |||||||||||||||
| Legal, acquisition and divestiture related | 1.7 | 0.1 | 2.2 | 0.3 | |||||||||||||||
| Cost optimization plan, including severance costs | 0.4 | 0.5 | 1.6 | 2.0 | |||||||||||||||
| Non-GAAP Selling, general and administrative | 37.6 | 40.1 | 72.2 | 84.0 | |||||||||||||||
| GAAP Research and development - as reported | 17.6 | 17.0 | 34.2 | 36.2 | |||||||||||||||
| Cost optimization plan, including severance costs | — | — | — | 0.1 | |||||||||||||||
| Non-GAAP Research and development | 17.6 | 17.0 | 34.2 | 36.1 | |||||||||||||||
| GAAP Operating Expenses - as reported | 79.1 | 69.0 | 145.3 | 144.4 | |||||||||||||||
| Amortization, stock-based compensation & other | 21.8 | 11.3 | 35.1 | 21.9 | |||||||||||||||
| Legal, acquisition and divestiture related | 1.7 | 0.1 | 2.2 | 0.3 | |||||||||||||||
| Cost optimization plan, including severance costs | 0.4 | 0.5 | 1.6 | 2.1 | |||||||||||||||
| Non-GAAP Operating expenses | 55.2 | 57.1 | 106.4 | 120.1 | |||||||||||||||
| GAAP Operating Income (loss) - as reported | (10.1 | ) | (33.9 | ) | (12.0 | ) | (52.1 | ) | |||||||||||
| Amortization, stock-based compensation & other | 22.0 | 11.4 | 35.4 | 22.1 | |||||||||||||||
| Legal, acquisition and divestiture related | 1.7 | 0.2 | 2.2 | 0.5 | |||||||||||||||
| Cost optimization plan, including severance costs | 0.4 | 0.5 | 1.6 | 2.8 | |||||||||||||||
| Product end-of-life adjustment | (0.3 | ) | 10.9 | (0.3 | ) | 10.9 | |||||||||||||
| Non-GAAP Operating Income (loss) | 13.8 | (10.8 | ) | 26.8 | (15.9 | ) | |||||||||||||
| Depreciation | 6.3 | 7.2 | 13.0 | 14.5 | |||||||||||||||
| Adjusted EBITDA | 20.1 | (3.6 | ) | 39.8 | (1.4 | ) | |||||||||||||
| GAAP Other Income and expense, net - as reported | (0.3 | ) | (2.6 | ) | 38.5 | (5.2 | ) | ||||||||||||
| Legal, acquisition and divestiture related | — | (0.2 | ) | (39.4 | ) | (0.1 | ) | ||||||||||||
| Impairment of cost-method investments | — | — | — | 1.1 | |||||||||||||||
| Non-GAAP Other Income and expense, net | (0.3 | ) | (2.8 | ) | (0.8 | ) | (4.2 | ) | |||||||||||
| GAAP Net Income (loss) - as reported | (9.6 | ) | (38.0 | ) | 35.6 | (56.9 | ) | ||||||||||||
| Amortization, stock-based compensation & other | 22.0 | 11.4 | 35.4 | 22.1 | |||||||||||||||
| Legal, acquisition and divestiture related | 1.7 | — | (37.1 | ) | 0.4 | ||||||||||||||
| Cost optimization plan, including severance costs | 0.4 | 0.5 | 1.6 | 2.8 | |||||||||||||||
| Impairment of cost-method investments | — | — | — | 1.1 | |||||||||||||||
| Product end-of-life adjustment | (0.3 | ) | 10.9 | (0.4 | ) | 10.9 | |||||||||||||
| Non-GAAP Net Income (loss) | $ | 14.2 | $ | (15.1 | ) | $ | 35.1 | $ | (19.6 | ) | |||||||||
