Year Ended December 31, 2022 , 2021 and 2020
Year Ended December 31, | |||||||||||
(in thousands, except per share amounts) | 2022 | 2021 | 2020 | ||||||||
Revenue: | |||||||||||
Products | $ | 395,396 | $ | 428,742 | $ | 332,799 | |||||
Services | 142,635 | 186,897 | 224,441 | ||||||||
Total revenue | 538,031 | 615,639 | 557,240 | ||||||||
Cost of sales: | |||||||||||
Products | 237,386 | 245,169 | 220,415 | ||||||||
Services | 86,412 | 106,692 | 113,450 | ||||||||
Total cost of sales | 323,798 | 351,861 | 333,865 | ||||||||
Gross profit | 214,233 | 263,778 | 223,375 | ||||||||
Operating expenses: | |||||||||||
Selling, general and administrative | 244,181 | 227,697 | 219,895 | ||||||||
Research and development | 87,071 | 69,150 | 74,143 | ||||||||
Impairment of goodwill | — | — | 48,300 | ||||||||
Total operating expenses | 331,252 | 296,847 | 342,338 | ||||||||
(Loss) income from operations | (117,019 | ) | (33,069 | ) | (118,963 | ) | |||||
Interest and other income (expense), net | (3,790 | ) | 352,609 | (24,447 | ) | ||||||
(Loss) income before income taxes | (120,809 | ) | 319,540 | (143,410 | ) | ||||||
(Provision) benefit for income taxes | (2,140 | ) | 2,512 | (6,184 | ) | ||||||
Net (loss) income before redeemable non-controlling interest | (122,949 | ) | 322,052 | (149,594 | ) | ||||||
Less: net (loss) attributable to redeemable non-controlling interest | (238 | ) | — | — | |||||||
Net (loss) income attributable to 3D Systems Corporation | $ | (122,711 | ) | $ | 322,052 | $ | (149,594 | ) | |||
Net (loss) income per common share | |||||||||||
Basic | $ | (0.96 | ) | $ | 2.62 | $ | (1.27 | ) | |||
Diluted | $ | (0.96 | ) | $ | 2.55 | $ | (1.27 | ) | |||
Weighted average shares outstanding: | |||||||||||
Basic | 127,818 | 122,867 | 117,579 | ||||||||
Diluted | 127,818 | 126,334 | 117,579 | ||||||||
3D Systems Corporation