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3D Systems(DDD) - 2025 Q1 - Quarterly Results
DDD3D Systems(DDD)2025-05-12 21:06

Revenue Performance - Revenue for Q1 2025 decreased by 8% to 94.5millioncomparedto94.5 million compared to 102.9 million in Q1 2024, primarily due to lower materials sales[7]. - Total revenue for the three months ended March 31, 2025, was 94.54million,adecreaseof8.194.54 million, a decrease of 8.1% from 102.91 million in the same period of 2024[19]. - Product revenue decreased to 54.72millionfrom54.72 million from 64.05 million, while service revenue increased slightly to 39.82millionfrom39.82 million from 38.85 million[19]. - Healthcare Solutions revenue decreased by 9% to 41.3million,whileIndustrialSolutionsrevenuedecreasedby741.3 million, while Industrial Solutions revenue decreased by 7% to 53.2 million compared to the prior year[8]. Profitability and Loss - Gross profit margin for Q1 2025 was 34.6%, down from 39.8% in the same period last year, reflecting lower volumes and unfavorable price and mix[9]. - Gross profit for the period was 32.69million,down20.132.69 million, down 20.1% from 40.92 million year-over-year[19]. - Net loss attributable to 3D Systems increased to 37.0millioninQ12025,a37.0 million in Q1 2025, a 21.0 million increase from the prior year[10]. - The net loss attributable to 3D Systems Corporation was 36.99million,comparedtoanetlossof36.99 million, compared to a net loss of 16.00 million in the same quarter of 2024, representing a 131.2% increase in loss[19]. - Adjusted EBITDA for Q1 2025 was (23.9)million,worseningfrom(23.9) million, worsening from (20.1) million in Q1 2024[34]. Cost Management - The company is implementing a 20millioncostreductioninitiativein2025toalignwithcurrentdemandandmacroeconomicrisks[4].−Operatingexpensestotaled20 million cost reduction initiative in 2025 to align with current demand and macroeconomic risks[4]. - Operating expenses totaled 69.45 million, a reduction of 13.9% compared to 80.78millionintheprioryear[19].−Non−GAAPoperatingexpenseswere80.78 million in the prior year[19]. - Non-GAAP operating expenses were 61.60 million, down from 66.30millionyear−over−year[33].CashandLiquidity−Cashandcashequivalentstotaled66.30 million year-over-year[33]. Cash and Liquidity - Cash and cash equivalents totaled 135.0 million as of March 31, 2025, a decrease of 36.3millionsinceDecember31,2024[12].−Cash,cashequivalents,andrestrictedcashattheendoftheperiodwere36.3 million since December 31, 2024[12]. - Cash, cash equivalents, and restricted cash at the end of the period were 136.21 million, a decrease from 213.61millionattheendofthesameperiodin2024[21].−Thecompanyreportedanetcashusedinoperatingactivitiesof213.61 million at the end of the same period in 2024[21]. - The company reported a net cash used in operating activities of 33.79 million, compared to 25.55millionintheprioryear[21].−ThebalancesheetwasstrengthenedbythesaleoftheGeomagicportfolio,addingover25.55 million in the prior year[21]. - The balance sheet was strengthened by the sale of the Geomagic portfolio, adding over 100 million to cash reserves, totaling approximately 250millionasofApril30,2025[4].GuidanceandFutureOutlook−Thecompanyhaswithdrawnitsfull−yearguidancefor2025duetoanticipatedweaknessincustomercapitalinvestmentspending[11].−3DSystemsdoesnotprovideforward−lookingguidanceforcertainmeasuresonaGAAPbasisduetotheunpredictabilityofcertaincosts[31].ShareholderMetrics−Dilutedlosspershare(GAAP)forQ12025was250 million as of April 30, 2025[4]. Guidance and Future Outlook - The company has withdrawn its full-year guidance for 2025 due to anticipated weakness in customer capital investment spending[11]. - 3D Systems does not provide forward-looking guidance for certain measures on a GAAP basis due to the unpredictability of certain costs[31]. Shareholder Metrics - Diluted loss per share (GAAP) for Q1 2025 was (0.28), compared to (0.12)inQ12024[35].−Non−GAAPdilutedlosspershareforQ12025was(0.12) in Q1 2024[35]. - Non-GAAP diluted loss per share for Q1 2025 was (0.21), compared to (0.17)inQ12024[35].−Stock−basedcompensationexpenseforQ12025was(0.17) in Q1 2024[35]. - Stock-based compensation expense for Q1 2025 was 4.2 million, down from 8.2millioninQ12024[34].−LegalandotherexpensesinQ12025amountedto8.2 million in Q1 2024[34]. - Legal and other expenses in Q1 2025 amounted to 1.1 million, compared to 4.2millioninQ12024[34].−Restructuringexpenseswererecordedat4.2 million in Q1 2024[34]. - Restructuring expenses were recorded at 1.0 million in Q1 2025, with no such expenses in Q1 2024[34]. Other Financial Metrics - Interest income for Q1 2025 was (0.4)million,adecreasefrom(0.4) million, a decrease from (2.1) million in Q1 2024[34]. - Depreciation expense for Q1 2025 was 4.7million,slightlydownfrom4.7 million, slightly down from 5.0 million in Q1 2024[34]. - Amortization expense decreased to 1.0millioninQ12025from1.0 million in Q1 2025 from 2.3 million in Q1 2024[34].