|
3D Systems Corporation
Unaudited Condensed Consolidated Statements of Cash Flows Six Months Ended June 30, 2024 and 2023 | |||||||
| Six Months Ended | |||||||
| (in thousands) | June 30, 2024 | June 30, 2023 | |||||
| Cash flows from operating activities: | |||||||
| Net loss before redeemable non-controlling interest | $ | (43,402 | ) | $ | (58,408 | ) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||||
| Depreciation, amortization and accretion of debt discount | 15,521 | 18,442 | |||||
| Stock-based compensation | 13,673 | 18,282 | |||||
| Loss on short-term investments | — | 6 | |||||
| Non-cash operating lease expense | 4,992 | 4,025 | |||||
| Provision for inventory obsolescence | 6,165 | 4,550 | |||||
| Provision for bad debts | (25 | ) | 100 | ||||
| Loss on the disposition of businesses, property, equipment and other assets | 643 | 57 | |||||
| Gain on debt extinguishment | (21,518 | ) | — | ||||
| Provision (benefit) for deferred income taxes and reserve adjustments | 451 | — | |||||
| Loss on equity method investment, net of taxes | 1,149 | 142 | |||||
| Asset impairment | — | 1,187 | |||||
| Changes in operating accounts: | |||||||
| Accounts receivable | 2,438 | (2,597 | ) | ||||
| Inventories | 479 | (24,469 | ) | ||||
| Prepaid expenses and other current assets | 149 | (4,556 | ) | ||||
| Accounts payable | (7,387 | ) | 4,381 | ||||
| Deferred revenue and customer deposits | 3,943 | 1,870 | |||||
| Accrued and other liabilities | (7,325 | ) | (6,836 | ) | |||
| All other operating activities | (6,254 | ) | (2,445 | ) | |||
| Net cash used in operating activities | (36,308 | ) | (46,269 | ) | |||
| Cash flows from investing activities: | |||||||
| Purchases of property and equipment | (7,151 | ) | (13,549 | ) | |||
| Sales and maturities of short-term investments | — | 179,790 | |||||
| Proceeds from sale of assets and businesses, net of cash sold | 96 | — | |||||
| Acquisitions and other investments, net of cash acquired | (2,450 | ) | (15,654 | ) | |||
| Net cash (used in) provided by investing activities | (9,505 | ) | 150,587 | ||||
| Cash flows from financing activities: | |||||||
| Repayment of borrowings/long-term debt | (87,218 | ) | — | ||||
| Taxes paid related to net-share settlement of equity awards | (2,503 | ) | (4,564 | ) | |||
| Other financing activities | (659 | ) | (362 | ) | |||
| Net cash used in financing activities | (90,380 | ) | (4,926 | ) | |||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (2,632 | ) | 645 | ||||
| Net (decrease) increase in cash, cash equivalents and restricted cash | (138,825 | ) | 100,037 | ||||
| Cash, cash equivalents and restricted cash at the beginning of the year (a) | 333,111 | 391,975 | |||||
| Cash, cash equivalents and restricted cash at the end of the period (a) | $ | 194,286 | $ | 492,012 | |||
3D Systems Reports Second Quarter 2024 Financial Results
 |  | More MCAD News
|
|
RELATED NEWS
