3D Systems Reports Second Quarter 2023 Financial Results


3D Systems Corporation

Unaudited Consolidated Statements of Operations
Three and Six Months Ended June 30, 2023 and 2022.
  Three Months Ended  Six Months Ended
(in thousands, except per share amounts) June 30, 2023  June 30, 2022  June 30, 2023  June 30, 2022
Revenue:       
Products$89,165  $103,774  $173,553  $204,325 
Services 39,029   36,271   75,877   68,721 
Total revenue 128,194   140,045   249,430   273,046 
Cost of sales:       
Products 56,135   65,331      106,015       123,803  
Services   22,043       21,576       46,301       42,310  
Total cost of sales   78,178       86,907       152,316       166,113  
Gross profit   50,016       53,138       97,114       106,933  
Operating expenses:              
Selling, general and administrative   58,983       64,404       117,268       119,819  
Research and development   22,762       20,772       44,971       42,384  
Total operating expenses   81,745       85,176       162,239       162,203  
Loss from operations   (31,729 )     (32,038 )     (65,125 )     (55,270 )
Interest and other income (expense), net   3,214       329       7,089       (1,954 )
(Loss) income before income taxes   (28,515 )     (31,709 )     (58,036 )     (57,224 )
(Provision) benefit for income taxes   (222 )     (1,289 )     (230 )     (2,573 )
(Loss) on equity method investment   (142 )           (142 )      
Net (loss) income before redeemable non-controlling interest   (28,879 )     (32,998 )     (58,408 )     (59,797 )
Less: net (loss) income attributable to redeemable non-controlling interest   16       (37 )     (92 )     (37 )
Net (loss) income attributable to 3D Systems Corporation $ (28,895 )   $ (32,961 )   $ (58,316 )   $ (59,760 )
               
Net (loss) income per common share:              
Basic $ (0.22 )   $ (0.26 )   $ (0.45 )   $ (0.47 )
Diluted $ (0.22 )   $ (0.26 )   $ (0.45 )   $ (0.47 )
               
Weighted average shares outstanding:              
Basic   129,907       127,703       129,535       127,218  
Diluted   129,907       127,703       129,535       127,218  



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