3D Systems Reports Second Quarter 2024 Financial Results

3D Systems Corporation
Unaudited Condensed Consolidated Statements of Operations
Three and Six Months Ended June 30, 2024 and 2023

  Three Months Ended  Six Months Ended
(in thousands, except per share amounts) June 30, 2024  June 30, 2023  June 30, 2024  June 30, 2023
Revenue:       
Products$71,733  $89,165  $135,784  $173,553 
Services 41,519   39,029   80,373   75,877 
Total revenue 113,252   128,194   216,157   249,430 
Cost of sales:       
Products 42,451   56,135       82,038       106,015  
Services   23,703       22,043       46,099       46,301  
Total cost of sales   66,154       78,178       128,137       152,316  
Gross profit   47,098       50,016       88,020       97,114  
Operating expenses:              
Selling, general and administrative   51,494       58,983       108,798       117,268  
Research and development   22,016       22,762       45,496       44,971  
Total operating expenses   73,510       81,745       154,294       162,239  
Loss from operations   (26,412 )     (31,729 )     (66,274 )     (65,125 )
Non-operating income (expense):              
Foreign exchange gain (loss), net   (723 )     (1,273 )     1,186       (1,645 )
Interest income   1,452       5,343       4,250       9,889  
Interest expense   (624 )     (939 )     (1,338 )     (1,680 )
Other income, net   384       83       21,770       525  
Total non-operating income   489       3,214       25,868       7,089  
Loss before income taxes   (25,923 )     (28,515 )     (40,406 )     (58,036 )
Provision for income taxes   (476 )     (222 )     (1,847 )     (230 )
Loss on equity method investment, net of income taxes   (902 )     (142 )     (1,149 )     (142 )
Net loss before redeemable non-controlling interest   (27,301 )     (28,879 )     (43,402 )     (58,408 )
Less: net (loss) income attributable to redeemable non-controlling interest   (43 )     16       (143 )     (92 )
Net loss attributable to 3D Systems Corporation $ (27,258 )   $ (28,895 )   $ (43,259 )   $ (58,316 )
               
Net loss per common share:              
Basic $ (0.21 )   $ (0.22 )   $ (0.33 )   $ (0.45 )
Diluted $ (0.21 )   $ (0.22 )   $ (0.33 )   $ (0.45 )
               
Weighted average shares outstanding:              
Basic   131,802       129,907       131,311       129,535  
Diluted   131,802       129,907       131,311       129,535  



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