3D Systems(US:DDD)2023-03-01 13:20Financial Performance - Full Year 2022 - Full Year 2022 revenue was $538.0 million[15], a 12.6% decrease compared to FY 2021[15], but increased by 3.3% excluding divestitures and in constant currency[15] - FY 2022 Gross Margin was 39.8% compared to 42.5% in FY 2021[22], impacted by divestitures, inflation, freight, and mix[22] - Non-GAAP operating expenses for FY 2022 were $241.1 million[26], a 22.1% increase compared to FY 2021[26], due to acquisition costs and increased R&D spending[26] - FY 2022 Adjusted EBITDA was -$5.8 million[31] Financial Performance - Q4 2022 - Q4 2022 revenue was $132.7 million[16], a 12.0% decrease compared to Q4 2021[16], or a 7.6% decrease in constant currency[16] - Q4 2022 Gross Margin was 40.9% compared to 44.1% in Q4 2021[23], impacted by divestitures, inflation, freight, and mix[23] - Non-GAAP operating expenses for Q4 2022 were $64.1 million[27], an 18.2% increase compared to Q4 2021[27] - Q4 2022 Adjusted EBITDA was -$4.8 million[31] Outlook - The company ended the quarter with $568.7 million in cash and short-term investments[33] - Full Year 2023 Revenue Guidance is $545 - $575 million[34], implying 4% revenue growth at the midpoint[34] - Full Year 2023 Non-GAAP Gross Margin Guidance is 40%-42%[34] - The company expects to achieve Break Even to Positive Adjusted EBITDA and Free Cash Flow in FY 2023[13, 34]