3D Systems Reports Third Quarter 2021 Financial Results

ROCK HILL, S.C., Nov. 08, 2021 (GLOBE NEWSWIRE) -- 3D Systems Corporation (NYSE:DDD) announced today its financial results for the third quarter ended September 30, 2021.

Third Quarter Financial and Operational Results

  • Revenue of $156.1 million reflects double-digit growth versus third quarter 2020
  • Revenue adjusted for divestitures (1) was 35.9% higher and 21.2% higher than third quarter 2020 and pre-pandemic third quarter 2019, respectively – reflecting the continued strong growth momentum of the business
  • Increasing revenue and sustained cost management drove strong profitability, with adjusted EBITDA margin of 10.5%; diluted GAAP earnings per share of $2.34, which includes gains from divestitures, and diluted Non-GAAP earnings per share of $0.08 (1)
  • Financial performance yielded positive operating cash flow of $20.7 million, the fourth consecutive quarter of positive cash flow from operations
  • Closed on previously announced divestitures, increasing cash on the balance sheet to $502.8 million with no debt
  • Two recently announced acquisitions, Oqton, closed on November 1, and Volumetric Biotechnologies, anticipated to close in the fourth quarter 2021, are expected to position the company for continued high-margin growth
   Quarter Ended September 30,
(in millions, expect per share data)  2021  2020
Revenue $156.1   $136.2  
Operating loss $(17.2)  $(67.6) 
Net income (loss) $292.7   $(72.9) 
Net income (loss) per share - basic $2.39   $(0.61) 
Net income (loss) per share - diluted $2.34   $(0.61) 
     
Non-GAAP measures for year-over-year comparisons (1)  
Non-GAAP operating income (loss) $10.6   $  
Non-GAAP net income (loss) $10.0   $(4.1) 
Non-GAAP income (loss) per share - basic $0.08   $ (0.03 )  
Non-GAAP income (loss) per share - diluted   $ 0.08       $ (0.03 )  
Adjusted EBITDA   $ 16.3       $ 7.2    

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