Company Overview - Systemic Bio, a subsidiary of 3D Systems, focuses on accelerating drug discovery and development through its proprietary h-VIOS platform, which utilizes bioprinted tissues to provide human-relevant data [1][6] - The company was founded in 2022 and leverages advanced bioprinting technology to create precise healthy and diseased tissue models [6][8] Innovation Recognition - Systemic Bio has been selected as a Top 10 Finalist for the SLAS 2025 Innovation Award, highlighting the innovative potential of its h-VIOS platform [1][2] - The SLAS Innovation Award recognizes technologies that significantly impact laboratory science and automation [2] Technological Advancements - The h-VIOS platform addresses challenges in preclinical testing by producing bioprinted tissue models that accurately mimic human organ systems [3] - Systemic Bio operates from a state-of-the-art facility in Houston, capable of producing thousands of tissue models under a Quality Management System (QMS) [3] Upcoming Presentation - Systemic Bio will present its h-VIOS platform at the SLAS Conference in San Diego on January 27, 2025, with the award winner announced on January 29, 2025 [4]

ROCK HILL, S.C., Jan. 06, 2025 (GLOBE NEWSWIRE) -- 3D Systems (NYSE:DDD) announced today that management will participate in the 27th Annual Needham Growth Conference on January 14, 2025. President and CEO, Dr. Jeffrey Graves will participate in a fireside chat at 11:45 a.m. Eastern Standard Time and will participate in individual meetings alongside members of the company’s leadership team throughout the day. A live webcast of the conference presentation will be available on 3D Systems’ Investor Relations p ...

Core Viewpoint - 3D Systems reported a loss in Q3 2024 with revenues declining year over year, missing consensus estimates, and facing challenges in printer sales due to macroeconomic factors [2][11][12]. Financial Performance - Revenues for Q3 2024 were $112.9 million, down 8.8% year over year, and below the Zacks Consensus Estimate of $120 million [2]. - Product revenues decreased by 9.3% year over year to $73 million, accounting for 64.6% of total revenues [3]. - Healthcare revenues increased by 5% year over year to $55.1 million, driven by growth in Dental and Personalized Healthcare solutions [4]. - Services revenues fell by 7.8% year over year to $40 million, representing 35.4% of total revenues [13]. - The Industrial Division's revenues dropped 18.9% year over year to $57.9 million, although the Application Innovation Group saw a 26% revenue increase [14]. - Non-GAAP gross profit fell 23.4% year over year to $42.5 million, with a gross profit margin decline of 720 basis points to 37.6% [5]. - Adjusted EBITDA decreased by $19.1 million year over year to a loss of $14.3 million [15]. Balance Sheet and Guidance - As of September 30, 2024, total debt was $211.7 million, slightly up from $211.4 million as of June 30, 2024 [6]. - Cash and cash equivalents were $190 million, down from $192.7 million as of June 30, 2024 [16]. - For 2024, the company expects revenues between $440 million and $450 million [7]. - The non-GAAP gross profit margin for 2024 is projected to be between 38-40% [18]. Market Sentiment and Estimates - The consensus estimate has shifted downwards by 40.91% due to recent performance [8]. - The stock has an aggregate VGM Score of F, indicating poor performance across various investment strategies [9]. - 3D Systems has a Zacks Rank of 4 (Sell), suggesting expectations of below-average returns in the coming months [20].

Investors are feeling very bullish about 3D Systems' latest move.3D Systems (DDD 15.58%) stock is making big gains in Thursday's trading. The company's share price was up 15.4% as of 11:15 a.m. ET. Meanwhile, the S&P 500 (^GSPC -0.10%) and Nasdaq Composite (^IXIC -0.19%) were both down 0.1% in the same time frame.3D Systems stock is gaining ground following an announcement that the company will be selling its Geomagic software to Hexagon. 3D Systems will be paid $123 million for the software portfolio, and ...

STOCKHOLM, Dec. 12, 2024 /PRNewswire/ -- Hexagon today announced the acquisition of 3D Systems' Geomagic suite of interoperable software packages, which are used to create high quality 3D models from multiple sources, including laser scanning.The Geomagic suite, which includes products such as Design X, Control X, Freeform and Wrap, is capable of automating the processing of 3D scan data to build digital models from physical objects, which can then be used to generate history based parametric CAD models for ...

3D Systems to sell Geomagic® reverse engineering, design, and inspection software portfolio to Hexagon for $123 million, with closure anticipated in first half of 2025Company will sharpen its focus on software solutions that accelerate adoption of 3D printing technologies in large-scale, production application environmentsFocus to be on expansion of capabilities of market-leading platforms, 3D Sprint® and 3DXpert® for polymer and metal printing technologies by leveraging AI and machine learning to deliver i ...

Company Performance - 3D Systems reported third-quarter revenue of slightly under $113 million, reflecting a 9% year-over-year decline [2] - The net loss for the quarter deepened significantly to almost $179 million, compared to a loss of less than $12 million in the same period last year [2] - Analysts had expected revenue of nearly $116 million and an adjusted net income of $0.10 per share [3] Market Reaction - Following the earnings report, 3D Systems' share price fell nearly 13%, significantly more than the S&P 500 index's decline of 0.4% [1] Guidance and Industry Context - The company updated its full-year revenue guidance to a range of $440 million to $450 million, with an adjusted gross profit margin expected between 38% and 40% [4] - The broader 3D printing industry has been experiencing sluggish performance, and the latest results from 3D Systems are unlikely to restore confidence in the sector [5]

3D Systems (DDD) reported a non-GAAP loss of 12 cents per share in third-quarter 2024, wider than the Zacks Consensus Estimate of a loss of 9 cents. The bottom-line results also compared unfavorably with the year-ago quarter’s earnings of a penny.The disappointing quarterly performance has turned investors cautious about the company’s prospects. Shares of 3D Systems traded 14.4% lower in the pre-market session today. The stock has plunged 46.3% against the Zacks Computer and Technology sector’s rise of 27.6 ...

Financial Data and Key Metrics Changes - Third quarter revenues were $112.9 million, a decline of 9% year-over-year, primarily due to macroeconomic pressures affecting hardware system sales, partially offset by growth in material sales [36] - Non-GAAP gross margin for the third quarter was 37.6%, impacted by an increase in inventory obsolescence reserves, with a normalized margin of 40.2% [39][40] - Adjusted EBITDA was negative $14.3 million for the third quarter, compared to a gain of $4.7 million in the same quarter last year [43] - Fully diluted loss per share was $1.35, including non-cash charges of approximately $144 million related to goodwill impairment [45] Business Line Data and Key Metrics Changes - Industrial revenues were $57.9 million, down about 19%, primarily due to a decline in printer sales [37] - Healthcare segment revenues were $55.1 million, growing 5% year-over-year, driven by a rebound in dental and personalized healthcare [38][19] Market Data and Key Metrics Changes - Consumable materials sales grew approximately 10% from the prior year, indicating improved utilization rates of the installed base [8] - Revenues from the industrial application group were up 26% year-to-date, reflecting strong customer interest in 3D printing applications [9] Company Strategy and Development Direction - The company is focusing on high reliability markets such as energy, oil & gas, and aerospace, which have stringent quality and performance standards [10] - Investments in AI-driven markets are expected to provide growth opportunities, particularly in semiconductor equipment manufacturing and data centers [11][12] - The company aims to reduce operating expenses to below $6 million for the fourth quarter, with a focus on improving operational efficiency [22][23] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging sales environment in 2024 but expressed optimism about future growth as macroeconomic conditions improve [53] - The company is adjusting its full-year revenue guidance to a range of $440 million to $450 million, anticipating a modest recovery in the second half of the year [50] - Management highlighted the importance of maintaining R&D investments despite the current economic challenges, positioning the company for future growth [54] Other Important Information - The company has made significant progress in its technology roadmap, launching nearly 40 new materials and platforms over the past year [26] - The PSLA 270 platform was introduced, combining high precision with faster print speeds, expected to lead the industry in photopolymer applications [18] Q&A Session Summary Question: What is driving the wide range of revenue guidance for Q4? - Management indicated that inventory management by customers and uncertainty in CapEx spending are key factors affecting revenue guidance for Q4 [58][60] Question: What are the expectations for gross margins? - Management noted that gross margins are influenced by factory absorption and product mix, with expectations for modest margins in Q4 due to these factors [62] Question: What is the outlook for profitability in 2025? - Management expressed optimism about potential revenue growth in 2025, contingent on customer capital spending and operational efficiencies [70][71] Question: Can you provide an update on the Application Innovation Group's performance? - Management reported a 26% increase in revenue from the Application Innovation Group, indicating strong customer demand for new applications [72][73] Question: What are the plans for convertible debt due in 2026? - Management stated that they are actively working on strategies to address the convertible debt, aiming to reduce it before maturity [109]

Restructuring and Cost Management - The Company incurred a total of $8.6 million in severance and termination benefit costs related to headcount reductions as part of the 2023 Restructuring Plan[191]. - The Company expects aggregate annualized cost savings from the 2023 Restructuring Plan to be between $45.0 million and $55.0 million when completed[193]. - The Company has incurred $0.5 million in lease termination costs and $0.6 million in impairment charges related to fixed assets in connection with the restructuring[193]. - The Company has substantially completed its in-sourcing activities related to metal printer operations in Europe as of September 30, 2024[188]. Revenue and Financial Performance - Total revenue for the three months ended September 30, 2024, decreased by $10.9 million, or 8.8%, to $112.94 million compared to $123.79 million for the same period in 2023[222]. - Products revenue decreased by $7.4 million, or 9.3%, to $72.97 million, primarily due to a $10.1 million negative impact from changes in price/mix[216]. - Services revenue decreased by $3.4 million, or 7.8%, to $39.97 million, impacted by a prior revenue catch-up adjustment of $4.5 million recognized in Q3 2023[220]. - Gross profit for the three months ended September 30, 2024, decreased by $13.6 million, or 24.6%, to $41.71 million, with a gross profit margin of 36.9% compared to 44.7% in Q3 2023[224]. - The decrease in gross profit margin was attributed to significant declines in both products and services gross profit margins, with a 780 basis point decrease overall[225]. - Operating expenses for the three months ended September 30, 2024, totaled $222.47 million, significantly higher than $68.93 million in the same period last year[224]. - Loss from operations for the three months ended September 30, 2024, was $(180.76) million, compared to a loss of $(13.58) million in Q3 2023[224]. - Net loss attributable to 3D Systems Corporation for the three months ended September 30, 2024, was $(178.63) million, compared to $(11.70) million in the same period last year[224]. - Adjusted EBITDA for the three months ended September 30, 2024, was $(14.34) million, compared to $4.73 million in Q3 2023[224]. Impairment and Asset Management - The company recorded a goodwill impairment charge of $101.4 million for the three months ended September 30, 2024, due to a decline in market capitalization and cash flow forecasts[242]. - Asset impairment charges rose significantly to $143.7 million for the three months ended September 30, 2024, compared to $13.6 million in the prior year[240]. - The company recognized a goodwill impairment charge of $101.4 million for the nine months ended September 30, 2024, due to the carrying value exceeding fair value in the Healthcare Solutions segment[274]. - The company incurred impairment charges of $31.2 million related to intangible assets during the nine months ended September 30, 2024, reflecting a decline in the fair value of its primary asset group[275]. - The Company recorded impairment charges totaling $101.4 million for the nine months ended September 30, 2024, related to goodwill and other long-lived assets[352]. Cash Flow and Financing - Cash and cash equivalents totaled $190.0 million as of September 30, 2024, a decrease of $141.5 million from December 31, 2023, primarily due to cash used in operations and repayment on borrowings[329]. - Operating working capital decreased by $148.8 million, or 31.3%, from December 31, 2023, reflecting a significant reduction in cash and cash equivalents[328]. - Cash flow used in operating activities improved by $34.8 million, from $(71.9) million for the nine months ended September 30, 2023, to $(37.1) million for the same period in 2024[332]. - Cash flow used in investing activities decreased significantly by $143.8 million, from $130.7 million in the prior year to $(13.2) million in 2024[332]. - Cash flow used in financing activities for the nine months ended September 30, 2024, was $90.7 million, primarily due to $87.2 million for repaying borrowings[336]. - The Company had $214.4 million of outstanding 0% convertible notes maturing in November 2026, with potential for additional long-term financing if necessary[338]. Strategic Investments and Acquisitions - The acquisition of Wematter AB was completed for approximately $10.2 million in cash, with potential additional payments of €2.0 million contingent on performance conditions[202]. - The Company made an incremental investment of $2.5 million in the National Additive Manufacturing Innovation joint venture in May 2024[201]. - The joint venture with Dussur to expand additive manufacturing in Saudi Arabia involved an initial investment of approximately $6.5 million, fully funded as of September 30, 2024[341]. Market and Product Development - The Company has developed capabilities to print organ scaffolds for human lungs, kidneys, and livers, with a focus shift to human lung scaffolds due to changes in funding[198]. - Systemic Bio entered into its first commercial contracts with pharmaceutical industry customers during the year ended December 31, 2023, focusing on 3D-printed vascularized "organs-on-chips"[199]. - The company expects limited printer sales for the remainder of 2024 due to macroeconomic conditions affecting customer purchases[218]. - The decrease in printers and products revenue was primarily due to lower revenue from a regenerative medicine collaborative arrangement, resulting from the loss of funding for kidney and liver R&D efforts[304].