3D Systems Reports First Quarter 2024 Financial Results

3D Systems Corporation
Unaudited Condensed Consolidated Statements of Operations
Three Months Ended March 31, 2024 and 2023
 
  Three Months Ended
(in thousands, except per share amounts) March 31, 2024  March 31, 2023
Revenue:   
Products$64,051  $84,388 
Services 38,854   36,848 
Total revenue 102,905   121,236 
Cost of sales:   
Products 39,587   49,880 
Services 22,396   24,258 
Total cost of sales 61,983   74,138 
Gross profit 40,922   47,098 
Operating expenses:      
Selling, general and administrative   57,304       58,285  
Research and development   23,480       22,209  
Total operating expenses   80,784       80,494  
Loss from operations   (39,862 )     (33,396 )
Non-operating income (expense):      
Foreign exchange gain (loss), net   1,909       (372 )
Interest income   2,798       4,546  
Interest expense   (714 )     (741 )
Other income, net   21,386       442  
Total non-operating income   25,379       3,875  
Loss before income taxes   (14,483 )     (29,521 )
Provision for income taxes   (1,371 )     (8 )
Loss on equity method investment, net of income taxes   (247 )      
Net loss before redeemable non-controlling interest   (16,101 )     (29,529 )
Less: net loss attributable to redeemable non-controlling interest   (100 )     (108 )
Net loss attributable to 3D Systems Corporation $ (16,001 )   $ (29,421 )
       
Net loss per common share:      
Basic $ (0.12 )   $ (0.23 )
Diluted $ (0.12 )   $ (0.23 )
       
Weighted average shares outstanding:      
Basic   130,820       129,158  
Diluted   130,820       129,158  
               



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