3D Systems(US:DDD)2025-11-04 21:35Revenue Performance - Total revenue for Q3 2025 was $91.2 million, a decrease of 19% compared to $112.9 million in Q3 2024[3] - Total revenue for the three months ended September 30, 2025, was $91,249,000, a decrease of 19.3% compared to $112,940,000 for the same period in 2024[20] - Revenue for the fourth quarter is expected to grow sequentially by 8% to 10% compared to Q3 2025, driven by increased sales in healthcare and industrial markets[5][12] Profitability Metrics - Gross profit margin decreased to 32.3% in Q3 2025 from 36.9% in Q3 2024, primarily due to lower sales volume and the divestiture of the Geomagic business[8] - Gross profit for the nine months ended September 30, 2025, was $98,270,000, down from $129,733,000 in 2024, representing a decline of 24.2%[20] - Non-GAAP gross profit for the three months ended September 30, 2025, was $29.6 million, with a gross profit margin of 32.5%, compared to $42.5 million and 37.6% for the same period in 2024[32] - Gross profit (GAAP) for the nine months ended September 30, 2025, was $98.3 million, with a gross profit margin of 35.0%, down from $129.7 million and 39.4% in the same period of 2024[32] Operating Expenses - Operating expenses decreased significantly to $50.7 million in Q3 2025 from $222.5 million in Q3 2024, reflecting progress on cost reduction initiatives[3] - Operating expenses for the three months ended September 30, 2025, were $50,741,000, significantly lower than $222,471,000 in the same period of 2024, primarily due to a reduction in selling, general, and administrative expenses[20] - GAAP operating expenses for the nine months ended September 30, 2025, totaled $171.7 million, while non-GAAP operating expenses were $153.1 million, a decrease from $191.9 million in the same period of 2024[33] Net Loss and Adjusted EBITDA - Net loss attributable to 3D Systems Corporation was $18.1 million in Q3 2025, a decrease of $160.6 million compared to the prior year period[9] - The net loss attributable to 3D Systems Corporation for the three months ended September 30, 2025, was $18.1 million, compared to a net loss of $178.6 million for the same period in 2024[34] - Adjusted EBITDA improved to a loss of $10.8 million in Q3 2025, an improvement of $3.5 million year-over-year[9] - Adjusted EBITDA for the nine months ended September 30, 2025, was $(40.1) million, an improvement from $(47.3) million in the same period of 2024[34] Cash and Debt Position - Cash and cash equivalents decreased by $75.8 million since December 31, 2024, primarily due to cash used in operations[11] - Total cash as of September 30, 2025, was $114.2 million, with total debt of $122.6 million[10] - Cash, cash equivalents, and restricted cash at the end of the period were $114,239,000, down from $191,573,000 at the end of September 30, 2024[21] - Net cash used in operating activities for the nine months ended September 30, 2025, was $73,131,000, compared to $37,109,000 in 2024, indicating increased cash outflow[21] Healthcare and Industrial Solutions - Healthcare Solutions revenue decreased by 22% to $42.8 million in Q3 2025 compared to the prior year period[8] - Healthcare Solutions revenue for the nine months ended September 30, 2025, was $129,123,000, a decrease of 13.5% from $149,369,000 in 2024[23] - Industrial Solutions revenue for the nine months ended September 30, 2025, was $151,504,000, down 15.7% from $179,728,000 in 2024[23] Foreign Exchange and Other Charges - The company reported a foreign exchange gain of $2,623,000 for the three months ended September 30, 2025, compared to a loss of $1,960,000 in the same period of 2024[20] - The company reported a restructuring expense of $1.0 million for the nine months ended September 30, 2025, compared to a benefit of $(0.5) million in the same period of 2024[33] - The company incurred asset impairment charges of $143.7 million for the nine months ended September 30, 2024, with no such charges reported for the same period in 2025[33] Earnings Per Share - The basic net loss per common share for the three months ended September 30, 2025, was $(0.14), compared to $(1.35) for the same period in 2024[20] - The diluted loss per share (GAAP) for the three months ended September 30, 2025, was $(0.14), compared to $(1.35) for the same period in 2024[35] - Non-GAAP diluted loss per share for the nine months ended September 30, 2025, was $(0.27), compared to $(0.42) for the same period in 2024[35]