3D Systems Reports Fourth Quarter and Full Year 2023 Financial Results (Unaudited)

About 3D Systems

More than 35 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

Tables Follow

3D Systems Corporation
Unaudited Consolidated Balance Sheets
December 31, 2023 and December 31, 2022
 
(in thousands, except par value) December 31, 2023  December 31, 2022
ASSETS   
Current assets:   
Cash and cash equivalents$331,525  $388,134 
Short-term investments    180,603 
Accounts receivable, net of reserves — $3,389 and $3,114 102,104   93,886 
Inventories 152,412   137,832 
Prepaid expenses and other current assets 36,701   33,790 
Total current assets 622,742   834,245 
Property and equipment, net 64,461   58,072 
Intangible assets, net 62,724   90,230 
Goodwill 107,200      385,312  
Operating lease right-of-use assets   58,406       39,502  
Finance lease right-of-use assets   12,174       3,244  
Long-term deferred income tax assets   4,230       7,038  
Other assets   48,251       28,970  
Total assets $ 980,188     $ 1,446,613  
LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST AND EQUITY      
Current liabilities:      
Current operating lease liabilities $ 9,924     $ 8,343  
Accounts payable   49,757       53,826  
Accrued and other liabilities   46,631       56,264  
Customer deposits   8,206       6,911  
Deferred revenue   30,448       26,464  
Total current liabilities   144,966       151,808  
Long-term debt, net of deferred financing costs   319,356       449,510  
Long-term operating lease liabilities   56,795       38,499  
Long-term deferred income tax liabilities   5,162       7,631  
Other liabilities   33,399       47,461  
Total liabilities   559,678       694,909  
Commitments and contingencies (Note 23)      
Redeemable non-controlling interest   2,006       1,760  
Stockholders’ equity:      
Common stock, $0.001 par value, authorized 220,000 shares; shares issued 133,619 and 131,207 as of December 31, 2023 and 2022, respectively   134       131  
Additional paid-in capital   1,577,382       1,547,597  
Accumulated deficit   (1,114,394 )     (743,962 )
Accumulated other comprehensive loss   (44,618 )     (53,822 )
Total stockholders’ equity   418,504       749,944  
Total liabilities, redeemable non-controlling interest and stockholders’ equity $ 980,188     $ 1,446,613  



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