ROCK HILL, S.C., Nov. 26, 2024 (GLOBE NEWSWIRE) -- 3D Systems Corporation (NYSE:DDD) announced today its financial results for the third quarter ended September 30, 2024.
Third Quarter Highlights
(All numbers are unaudited and are presented in millions, except per share amounts or as otherwise noted)
- Revenue of $112.9 million decreased 9% year-over-year primarily driven by macro weakness in printer sales, partially offset by approximately 10% growth in consumables sales
- Healthcare Solutions revenue of $55.1 million grew 5% year-over-year, led by strong growth in Dental and Personalized Healthcare solutions
- Customer interest in 3D printing applications continued to gain momentum, with revenues in the Application Innovation Group (AIG) growing over 26% year-to-date versus prior year across industrial markets
- Q3'24 gross profit margin of 36.9% and Non-GAAP gross profit margin (1) of 37.6% included a $3 million headwind related to an increase in inventory reserves - if excluded, Non-GAAP gross profit margin was 40.2%
- Q3'24 net loss of $178.6 million, diluted loss per share of $1.35, which includes $143.7 million associated with the impairment of goodwill and other long-lived assets. Non-GAAP diluted loss per share (1) of $0.12
- Q3'24 negative Adjusted EBITDA (1) of $14.3 million
- Updating guidance for remainder of FY'2024 to now include expected full-year revenues within the range of $440 million - $450 million
| Unaudited | Three Months Ended September 30, | Three Months Ended September 30, | ||||||
| (in millions, except per share data) | 2024 | 2023 | ||||||
| Revenue | $ | 112.9 | $ | 123.8 | ||||
| Gross profit | 41.7 | 55.4 | ||||||
| Gross profit margin | 36.9 | % | 44.7 | % | ||||
| Operating expense | 222.5 | 68.9 | ||||||
| Loss from operations | (180.8 | ) | (13.6 | ) | ||||
| Net loss attributable to 3D Systems Corporation | (178.6 | ) | (11.7 | ) | ||||
| Diluted loss per share | (1.35 | ) | (0.09 | ) | ||||
| Non-GAAP measures for year-over-year comparisons: (1) | ||||||||
| Non-GAAP gross profit margin | 37.6 | % | 44.8 | % | ||||
| Non-GAAP operating expense | 61.4 | 55.8 | ||||||
| Adjusted EBITDA | (14.3 | ) | 4.7 | |||||
| Non-GAAP diluted (loss) income per share | $ | (0.12 | ) | $ | 0.01 | |||
