3D Systems’ Executive Vice President, Phyllis Nordstrom to Serve as Interim Chief Financial Officer ROCK HILL, S.C., Aug. 20, 2025 (GLOBE NEWSWIRE) -- Today, 3D Systems (NYSE: DDD) announced that Jeffrey D. Creech is stepping down as the company’s Chief Financial Officer, effective August 29, 2025, to accept a new career opportunity. Phyllis Nordstrom, 3D Systems’ Executive Vice President, Chief Administrative Officer, has been appointed Interim CFO, effective August 29, 2025. “I want to thank Jeff for his ...

Core Viewpoint - 3D Systems Corporation reported a decline in revenue for Q2 2025, but improved profitability due to cost-saving initiatives and operational efficiencies despite challenging macroeconomic conditions [4][5][6]. Financial Performance - Revenue for Q2 2025 was $94.8 million, a decrease of 16% year-over-year from $113.3 million in Q2 2024 [2][7]. - Gross profit for the quarter was $36.2 million, with a gross profit margin of 38.1%, down from 41.6% in the same period last year [2][8]. - Operating expenses were $51.5 million, leading to an operating loss of $15.4 million, an improvement from a loss of $26.4 million in Q2 2024 [2][8]. - Net income attributable to 3D Systems was $104.4 million, a significant increase from a net loss of $27.3 million in the prior year [2][8]. Segment Performance - Healthcare Solutions revenue decreased by 8% to $45.0 million, while Industrial Solutions revenue fell by 23% to $49.8 million compared to the prior year [7][23]. - The Medical Technology sector showed resilience, with a 13% year-over-year growth in Personal Health Services, driven by increased orthopedic procedures using 3D printing technology [6][5]. - Aerospace & Defense revenues grew by 84% year-over-year, reaching over $30 million annually, highlighting strong demand in high-reliability industrial markets [6][5]. Cost Management and Efficiency - Cost reduction and efficiency programs resulted in over $20 million in savings in operating expenses during Q2 2025 [5][4]. - The company is on track to return to positive cash flow by 2026, supported by previously announced cost initiatives [5][4]. - The restructuring program includes workforce restructuring and consolidation of operational footprint, which are expected to continue through mid-2026 [4][5]. Balance Sheet and Liquidity - As of June 30, 2025, cash and cash equivalents totaled $116.4 million, a decrease of $55.0 million since December 31, 2024 [10]. - The company successfully retired $88 million in outstanding debt and extended maturities for the majority of remaining debt to 2030 [6][5]. - Total debt, net of deferred financing costs, stood at $122.6 million [10].

Core Viewpoint - 3D Systems has successfully completed strategic transactions to refinance its outstanding convertible notes and repurchase shares, enhancing its capital structure and financial flexibility [1][4]. Group 1: Financial Transactions - The company repurchased approximately 8 million shares of its common stock, representing about 6% of its outstanding shares as of May 2, 2025 [1][7]. - The refinancing involved retiring approximately $88 million of debt, which is 41% of the prior balance, at a significant discount to par [7]. - The company issued $92 million in new Convertible Senior Secured Notes due in 2030, with an interest rate of 5.875% per annum [2][7]. Group 2: Financial Impact - The repurchase of existing notes at a discount is expected to result in a gain of approximately $10 million in the second quarter financial statements [3]. - The transactions are anticipated to reduce overall outstanding debt and extend the maturity profile, providing enhanced financial flexibility [4][7]. Group 3: Management Commentary - Dr. Jeffrey Graves, president and CEO, emphasized that these transactions are a significant step in strengthening the company's capital structure and managing potential dilution through share repurchase [4]. - The company has reduced its total debt by over 72% since 2021 through opportunistic transactions [4]. Group 4: Future Outlook - The company maintains strong cash reserves to support ongoing restructuring efforts and key growth initiatives [7]. - The new notes will mature on June 15, 2030, unless converted or repurchased earlier, reflecting a strategic move to manage debt maturity [2][7].

Core Viewpoint - 3D Systems has announced the issuance of $92 million in convertible senior secured notes, which will close on June 23, 2025, to strengthen its financial position and facilitate the repurchase of existing debt and shares [1][2]. Group 1: Notes Issuance Details - The notes will have a 5.875% interest rate, maturing on June 15, 2030, and will be convertible into cash, shares, or a combination at the option of the company [2][3]. - The initial conversion rate is set at 445.6328 shares per $1,000 principal amount, translating to an initial conversion price of approximately $2.24 per share, representing a 20% premium over the last reported stock price of $1.87 [3]. Group 2: Repurchase Plans - Proceeds from the notes will be used to repurchase a portion of the outstanding 0% convertible senior notes due 2026 and to buy back approximately $15 million worth of common stock [5]. - The company has negotiated to repurchase approximately $180 million in aggregate principal amount of the 2026 notes and may continue repurchasing after the notes' closing [6]. Group 3: Stock Repurchase Transactions - 3D Systems plans to repurchase around 8 million shares of its common stock from purchasers of the notes at a price of $1.87 per share, which matches the closing price on June 17, 2025 [7].

Core Viewpoint - 3D Systems will announce its financial results for Q1 2025 on May 12, 2025, with a conference call scheduled for May 13, 2025, at 8:30 a.m. Eastern Time [1][2]. Company Overview - 3D Systems was founded over 35 years ago by Chuck Hull, who aimed to enhance product design and manufacturing through 3D printing, leading to the establishment of the additive manufacturing industry [3]. - The company provides comprehensive 3D printing solutions, including technologies, materials, and software, targeting high-value markets such as medical, aerospace, transportation, AI infrastructure, and durable goods [3]. - 3D Systems is committed to transforming manufacturing for a better future, driven by the expertise and passion of its employees [3].