3D Systems Reports Third Quarter 2024 Financial Results


(a)The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets to the total of such amounts reported in the condensed consolidated statements of cash flows.


(in thousands) September 30, 2024  December 31, 2023  September 30, 2023  December 31, 2022
Cash and cash equivalents$190,005 $331,525 $445,554 $388,134
Restricted cash included in prepaid expenses and other current assets 122  119  118  114
Restricted cash included in other assets 1,446  1,467  1,445  3,727
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows$191,573 $333,111 $447,117 $391,975


Amounts included in restricted cash as of September 30, 2024, December 31, 2023 and September 30, 2023 primarily relate to guarantees in the form of a standby letter of credit as security for a long-term real estate lease. Amounts included in restricted cash as of December 31, 2022 primarily relate to $3,435 deposited into an escrow account relating to the initial investment in the National Additive Manufacturing innovation ("NAMI") joint venture. The remaining amounts in restricted cash in all periods presented relate to collateral for letters of credit and bank guarantees.

 
Appendix
3D Systems Corporation
Unaudited Reconciliations of GAAP to Non-GAAP Measures
Three and Nine Months Ended September 30, 2024 , 2023
 
Gross Profit and Gross Profit Margin (1)
  Three Months Ended September 30,
(in millions)  2024    2023  
  Gross Profit   Gross Profit Margin   Gross Profit   Gross Profit Margin
GAAP $ 41.7   36.9 %   $ 55.4   44.7 %
Amortization expense included in Cost of sales   0.3         0.1    
Severance accrual adjustment   0.5            
Non-GAAP (2) $ 42.5   37.6 %   $ 55.5   44.8 %

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