3D Systems Reports Fourth Quarter and Full Year 2022 Financial

3D Systems Reports Fourth Quarter and Full Year 2022 Financial Results

A reconciliation of GAAP to non-GAAP financial measures is provided in the accompanying schedules.

3D Systems does not provide forward-looking guidance for certain measures on a GAAP basis. The company is unable to provide a quantitative reconciliation of forward-looking non-GAAP gross margins and non-GAAP operating expenses to the most directly comparable forward-looking GAAP measures without unreasonable effort because certain items, including legal, acquisition expenses, stock-compensation expense, intangible amortization expense, restructuring expenses, and goodwill impairment, are difficult to predict and estimate. These items are inherently uncertain and depend on various factors, many of which are beyond the company’s control, and as such, any associated estimate and its impact on GAAP performance could vary materially.

About 3D Systems

More than 30 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading Additive Manufacturing solutions partner, we bring innovation, performance, and reliability to every interaction - empowering our customers to create products and business models never before possible. Thanks to our unique offering of hardware, software, materials and services, each application-specific solution is powered by the expertise of our application engineers who collaborate with customers to transform how they deliver their products and services. 3D Systems’ solutions address a variety of advanced applications in Healthcare and Industrial Solutions markets such as Medical and Dental, Aerospace & Defense, Automotive and Durable Goods. More information on the company is available at www.3dsystems.com.

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Tables Follow

3D Systems Corporation
Unaudited Consolidated Balance Sheets
December 31, 2022 and December 31, 2021

*(in thousands, except par value)*	December 31, 2022			December 31, 2021
ASSETS
Current assets:
Cash and cash equivalents	$	388,134		$	789,657
Short-term investments		180,603			—
Accounts receivable, net of reserves — $3,114 and $2,445		93,886			106,540
Inventories		137,832			92,887
Prepaid expenses and other current assets		33,790			42,653
Total current assets		834,245			1,031,737
Property and equipment, net		58,072			57,257
Intangible assets, net		90,230			45,835
Goodwill		385,312			345,588
Right-of-use assets		43,655			46,356
Deferred income tax asset		7,038			5,054
Other assets		28,972			17,272
Total assets	$	1,447,524		$	1,549,099
LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST AND EQUITY
Current liabilities:
Current lease liabilities	$	10,075		$	8,344
Accounts payable		53,826			57,366
Accrued and other liabilities		55,571			76,994
Customer deposits		6,911			7,281
Deferred revenue		26,464			28,027
Total current liabilities		152,847			178,012
Long-term debt, net of deferred financing costs		449,510			446,859
Long-term lease liabilities		41,650			47,420
Deferred income tax liability		7,631			2,173
Other liabilities		44,180			32,254
Total liabilities		695,818			706,718
Redeemable non-controlling interest		1,762			—
Stockholders’ equity:
Common stock, $0.001 par value, authorized 220,000 shares; shares issued 131,207 and 128,375 as of December 31, 2022 and 2021, respectively		131			128
Additional paid-in capital		1,547,597			1,501,210
Accumulated deficit		(743,962	)		(621,251	)
Accumulated other comprehensive loss		(53,822	)		(37,706	)
Total stockholders’ equity		749,944			842,381
Total liabilities, redeemable non-controlling interest and stockholders’ equity	$	1,447,524		$	1,549,099

3D Systems Corporation

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