3d Systems (DDD -23.14%) stock sank in Wednesday's trading. The company's share price closed out the daily session down 23.1%, according to data from S&P Global Market Intelligence.3d Systems published its fourth-quarter results after the market closed yesterday, and the company posted sales and earnings results for the period that fell short of the market's expectations. In addition to underwhelming Q4 performance, the 3D printing specialist also issued forward guidance that fell short of Wall Street's exp ...

Financial Data and Key Metrics Changes - For the full year 2023, consolidated revenues were reported at $488 million, a decline of 9% from the prior year, primarily impacted by the dental orthodontics business [24][12] - The gross profit margin for 2023 was 40.7%, with a non-GAAP gross margin of 41.1%, reflecting a 130 basis-point improvement over the prior year [26] - Adjusted EBITDA for 2023 was negative $24.5 million, a decline of $18.7 million from the previous year [27] Business Line Data and Key Metrics Changes - The dental orthodontics business saw a significant decline of 39% year-over-year, contributing heavily to the overall revenue drop [12][24] - Industrial solutions revenues were approximately $275 million, a decline of about 1%, with growth in transportation and aerospace offsetting declines in jewelry [24] - Healthcare solutions delivered full-year revenues of $213 million, down approximately 18%, with personalized healthcare growing by 12% [24] Market Data and Key Metrics Changes - The overall market for 3D printing is expected to grow at a compounded annual growth rate of over 20%, translating to an $80 billion market opportunity over the next five to seven years [10] - The dental market, particularly for dentures, is projected to exceed $2 billion by 2028, presenting a significant opportunity for new products [17] Company Strategy and Development Direction - The company is focusing on restructuring initiatives to reduce costs while maintaining critical R&D investments for future growth [14][15] - There is a strong emphasis on expanding into personalized healthcare and regenerative medicine, with expectations to triple revenue in this segment over the next five years [17][20] - The company aims to maintain a balance between cost reduction and investment in growth initiatives, particularly in high-potential areas like regenerative medicine [14][20] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that 2023 was a challenging year, primarily due to macroeconomic factors affecting capital spending [12][22] - For 2024, the company expects revenues to be relatively flat, with a focus on improving gross margins and operating expenses [30] - Management expressed optimism about the recovery in demand for dental products and the potential for growth in personalized healthcare [34][17] Other Important Information - The company is in the process of completing its quarterly and year-end close, with actual results subject to change [3] - The company has a strong balance sheet with $331.5 million in cash and cash equivalents, down from $568.7 million at the end of 2022 [29] Q&A Session Summary Question: Is the dental business expected to grow in 2024? - Management indicated that the dental business is in the process of bottoming out, with expectations for a lift in demand primarily in materials and services [34] Question: What is the expected timeline for FDA approval of the NextDent product? - Management confirmed that once they receive 510(k) approval, they will be ready to market the product, with printing capacity already being prepared [36] Question: What is the current quarterly spending on regenerative medicine? - Management stated that approximately $10 million was spent last year on regenerative medicine, with a focus on pharmaceutical applications [38] Question: Was the revenue shortfall in Q4 primarily due to CapEx-driven issues? - Management clarified that the revenue shortfall was due to slow rolling purchase orders rather than market share loss, reflecting customer caution regarding capital expenditures [45] Question: What were the non-GAAP operating expenses for the quarter? - Non-GAAP operating expenses for Q4 were reported at approximately $66 million, with some temporary spikes due to specific investments [46][48]

February 28, 2024 Fourth Quarter and Full Year Welcome and Participants Dr. Jeffrey Graves President& Chief Executive Officer Jeffrey Creech Executive Vice President & Chief Financial Officer Andrew Johnson Executive Vice President, Chief Corporate Development Officer & Chief Legal Officer Mick McCloskey Vice President, Treasury & Investor Relations ...

3D Systems (DDD) reported a non-GAAP loss of 11 cents per share in fourth-quarter 2023, wider than the Zacks Consensus Estimate of a loss of 7 cents. The company reported a loss of 6 cents per share in the year-ago quarter.The company reported revenues of $114.8 million, which declined 13.5% year over year and lagged the consensus mark by 7.62%.In the fourth quarter, Product revenues contributed 65.1% to total revenues and declined 21.1% to $74.8 million. The figure lagged the Zacks Consensus Estimate by 7. ...

Core Viewpoint - 3D Systems Corporation reported a decline in revenue and increased net losses for both the fourth quarter and full year of 2023, primarily due to softness in the dental orthodontics market and reduced capital expenditures from customers [1][2][5]. Fourth Quarter Financial Results - Q4 2023 revenue was $114,848, a decrease of 13.5% compared to Q4 2022, attributed to lower sales in dental orthodontics and printer sales [1][6]. - Gross profit margin for Q4 2023 was 40.4%, with a Non-GAAP gross profit margin of 41.9%, reflecting an improvement due to product mix [1][7]. - The net loss for Q4 2023 was $300,412, with a diluted loss per share of $2.30, significantly impacted by a non-cash impairment of goodwill [1][8]. - Adjusted EBITDA for Q4 2023 was a loss of $12,260, down from the previous year, driven by lower revenue and increased operating expenses [1][8]. Full Year Financial Results - Total revenue for 2023 was $488,069, a decrease of 9.3% from 2022, primarily due to reduced sales in dental orthodontics and slower printer hardware sales [2][9]. - The gross profit margin for 2023 was 40.7%, an increase from 39.8% in 2022, with a Non-GAAP gross profit margin of 41.1% [2][10]. - The net loss for 2023 was $370,432, with a diluted loss per share of $2.85, largely due to goodwill impairment and increased operating expenses [2][10]. - Adjusted EBITDA for 2023 was a loss of $24,525, reflecting the impact of lower revenue and increased expenses related to Regenerative Medicine investments [2][10]. Market and Operational Insights - The dental orthodontic product line was the most significant factor in revenue decline, with a 39% drop from 2022 levels [5][6]. - The company is undergoing a restructuring initiative aimed at reducing costs and improving operational efficiencies to achieve sustained profitability [5][6]. - 3D Systems maintains a strong balance sheet with over $300 million in cash, allowing for continued investment in key growth areas despite current economic pressures [5][6]. 2024 Outlook - The company projects 2024 revenue between $475 million and $505 million, with a Non-GAAP gross profit margin expected to be between 42% and 44% [11]. - Adjusted EBITDA is anticipated to break even or better, reflecting ongoing restructuring efforts and targeted customer applications expected to launch in the next 12-18 months [11][12].

Revenue Performance - Q4 2023 revenue was $114,848, a decrease of 13.5% compared to Q4 2022, primarily due to softness in dental orthodontics and delayed customer capex investments [2]. - Full year 2023 revenue totaled $488,069, down 9.3% from $538,031 in 2022, driven by lower sales in dental orthodontics and slower printer hardware sales [3]. - Total revenue for 2023 was $488.1 million, a decrease of 9.3% from $538.0 million in 2022 [27]. - Total revenue for Q4 2023 was $114,848, a decrease of 13.5% from $132,732 in Q4 2022 [29]. Profitability and Margins - Q4 2023 gross profit margin was 40.4%, while Non-GAAP gross profit margin increased to 41.9% from 40.9% in the prior year [8]. - Gross profit for 2023 was $198.8 million, representing a gross profit margin of 40.7%, compared to $214.2 million and 39.8% in 2022 [27]. - GAAP gross profit for 2023 was $198,812 thousand, with a gross profit margin of 40.7%, compared to $214,233 thousand and 39.8% in 2022 [35]. - Non-GAAP gross profit for 2023 was $200,745 thousand, with a gross profit margin of 41.1%, compared to $214,247 thousand and 39.8% in 2022 [35]. Net Loss and Expenses - The net loss for Q4 2023 was $300,412, significantly higher than the loss of $25,553 in Q4 2022, largely due to a non-cash impairment of goodwill [8]. - The net loss attributable to 3D Systems Corporation for 2023 was $370.4 million, compared to a net loss of $122.7 million in 2022 [27]. - The net loss attributable to 3D Systems Corporation for Q4 2023 was $(300,412), compared to a net loss of $(25,553) in Q4 2022 [29]. - Operating expenses surged to $613.1 million in 2023, up from $331.3 million in 2022, primarily due to $311.3 million in impairment charges [27]. - Operating expenses for Q4 2023 totaled $381,942, significantly higher than $82,674 in Q4 2022, primarily due to impairments of goodwill and intangible assets [29]. Cash and Balance Sheet - Cash and cash equivalents as of December 31, 2023, were $331,525, down $237,212 from the previous year, primarily due to the repurchase of Convertible Notes [13]. - Cash and cash equivalents decreased to $331.5 million as of December 31, 2023, down from $388.1 million a year earlier [25]. - The company reported a cash balance of $333,111 at the end of 2023, down from $391,975 at the end of 2022 [30]. - Total assets decreased significantly to $980.2 million in 2023 from $1.4 billion in 2022 [25]. - Long-term debt decreased to $319.4 million in 2023, down from $449.5 million in 2022 [25]. Future Outlook - For 2024, the company expects revenue guidance of $475 million to $505 million, with a Non-GAAP gross profit margin target of 42% to 44% [12]. - The company plans to prioritize restructuring efforts, including headcount reductions and site consolidations, to improve gross margins and achieve positive adjusted EBITDA in 2024 [6]. - Future outlook includes continued focus on product development and market expansion strategies [36]. Segment Performance - Healthcare Solutions revenue decreased by 18.3% to $213,216 in 2023, while Industrial Solutions revenue decreased by 0.8% to $274,853 [9]. - Healthcare Solutions revenue for Q4 2023 was $51,188, a decrease of 15.7% from $60,694 in Q4 2022 [32]. - Industrial Solutions revenue for Q4 2023 was $63,660, down 11.6% from $72,038 in Q4 2022 [32]. Adjusted Metrics - Adjusted EBITDA for Q4 2023 was a loss of $12,260, a decrease of $7,452 compared to the same period last year [8]. - Adjusted EBITDA for the year ended 2023 was $(24,525) thousand, compared to $(5,781) thousand for the year ended 2022 [37]. - Non-GAAP diluted loss per share for Q4 2023 was $(2.30), compared to $(0.20) for Q4 2022 [39].

3D Systems (DDD) is set to report its fourth-quarter 2023 results on Feb 28.The Zacks Consensus Estimate for the bottom line is pegged at break-even, unchanged over the past 30 days. 3D Systems reported a loss of 6 cents per share in the year-ago quarter.The company’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, missing in one and matching in the remaining quarter, the average surprise being 32.29%.Let’s see how things have shaped up before this announcement.Factors to No ...

ROCK HILL, S.C., Feb. 14, 2024 (GLOBE NEWSWIRE) -- 3D Systems (NYSE:DDD) announced today it will release its financial results for the fourth quarter and full year 2023 after the U.S. stock markets close on Tuesday, February 27, 2024. The company will hold a conference call and simultaneous webcast to discuss these financial results on Wednesday, February 28, 2024 at 8:30 a.m. Eastern Time. Fourth Quarter and Full Year 2023 Financial Results Conference CallDate: Wednesday, February 28, 2024Time: 8:30 a.m. E ...

HOUSTON, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Systemic Bio™, a 3D Systems (NYSE:DDD) company, is excited to announce the acceptance of two abstracts for presentation at the prestigious Society of Toxicology (SOT) 2024 Annual Meeting (Salt Lake City, March 10-14, 2024) and American Association for Cancer Research (AACR) 2024 Annual Meeting (San Diego, April 5-10, 2024). At the SOT 2024 meeting, Systemic Bio will present its latest research on an advanced liver model that demonstrates several-fold enhanced album ...

Summary of 3D Systems Corporation Conference Call Company Overview - **Company**: 3D Systems Corporation (NYSE: DDD) - **Date**: January 17, 2024 - **Participants**: CEO Jeff Graves, CFO Jeff Creech, VP of Investor Relations Mick Key Points Industry Dynamics - The 3D printing industry is experiencing a significant shift from prototyping to production, with factory managers becoming the primary customer base [6][10] - The industry is moving towards higher volume applications in sectors like automotive and consumer electronics, driven by improved economics and machine reliability [7][10] - There is a need for industry consolidation to achieve the scale necessary to service large factory customers effectively [9][11] Company Strategy and Changes - 3D Systems has refocused on being a 3D printing manufacturer, divesting non-core businesses and paying off debt to streamline operations [13][15] - The company has made strategic acquisitions to enhance its hardware portfolio and fill product line gaps [16][22] - The business model emphasizes high-touch sales, helping customers understand and implement 3D printing in their operations [18][19] Financial Performance - Industrial markets contributed approximately 55-57% of revenues, showing modest growth despite a challenging economic environment [21][24] - The healthcare segment accounts for over 40% of revenues, with significant reliance on a single customer in the clear aligner market [30][32] - The company has faced a 45% revenue decline from its largest healthcare customer due to decreased consumer demand post-COVID [29][32] Market Opportunities - The semiconductor equipment manufacturing sector is highlighted as a growth area, with 3D printing offering significant cost and efficiency advantages [23][24] - The metal casting market is also identified as a promising area for 3D printing applications [25] - The dental market is rapidly transitioning to digital manufacturing, with 3D printing expected to dominate in the near future [36][38] Regenerative Medicine - 3D Systems is exploring regenerative medicine, including the potential to print human organs, with significant R&D investments [41][48] - The company has made progress in printing complex structures and is working with United Therapeutics on lung printing technology [42][43] - Two contracts with major pharmaceutical companies have been secured to validate the technology for drug testing applications [47][50] Challenges and Outlook - The company acknowledges the impact of high interest rates and economic uncertainty on customer capital spending [63][64] - Despite these challenges, 3D Systems aims to achieve profitability and cash generation through restructuring and cost management [65][66] - The focus remains on scaling the core business while investing in high-potential areas like regenerative medicine and personalized healthcare solutions [64][65] Capital Allocation - The company has repurchased $135 million of convertible senior notes to manage debt and maintain financial flexibility [70][72] - 3D Systems is open to pursuing larger acquisitions that can provide scale, while being cautious about smaller, less strategic investments [72][73] Conclusion 3D Systems Corporation is navigating a transformative phase in the 3D printing industry, focusing on production applications and strategic growth areas while managing economic challenges. The company's commitment to innovation in healthcare and regenerative medicine positions it for future opportunities, despite current market headwinds.