3D Systems Announces Preliminary Third Quarter 2024 Revenue Results
3D Systems (NYSE:DDD) announced preliminary Q3 2024 revenue of approximately $112.9 million, representing a $10.9 million decrease from Q3 2023's $123.8 million. The decline was primarily due to macroeconomic factors affecting hardware systems sales. However, consumable materials revenue grew 10% year-over-year and 9% sequentially. The company's Personalized Healthcare business showed strong performance with nearly 20% growth. The company secured FDA clearances for multi-material jetted dentures and TOTAL ANKLE Patient-Matched Guides. The Q3 2024 Form 10-Q filing is delayed due to required interim valuation of goodwill and long-lived assets.
3D Systems (NYSE:DDD) ha annunciato un fatturato preliminare per il terzo trimestre del 2024 di circa 112,9 milioni di dollari, in calo di 10,9 milioni di dollari rispetto ai 123,8 milioni di dollari del terzo trimestre del 2023. La diminuzione è stata principalmente causata da fattori macroeconomici che hanno influenzato le vendite dei sistemi hardware. Tuttavia, il fatturato dei materiali di consumo è aumentato del 10% rispetto all'anno precedente e del 9% rispetto al trimestre precedente. Il settore Personalized Healthcare dell'azienda ha mostrato buone performance con una crescita di quasi il 20%. L'azienda ha ottenuto l'autorizzazione della FDA per protesi dentali a getto multi-materiale e guide personalizzate per caviglie TOTAL ANKLE. La presentazione del modulo 10-Q per il terzo trimestre 2024 è in ritardo a causa della necessaria valutazione temporanea di avviamento e attivi a lungo termine.
3D Systems (NYSE:DDD) anunció ingresos preliminares para el tercer trimestre de 2024 de aproximadamente 112,9 millones de dólares, lo que representa una disminución de 10,9 millones de dólares en comparación con los 123,8 millones de dólares del tercer trimestre de 2023. La caída se debió principalmente a factores macroeconómicos que afectaron las ventas de sistemas de hardware. Sin embargo, los ingresos por materiales consumibles crecieron un 10% en comparación con el año anterior y un 9% secuencialmente. El negocio de Atención Médica Personalizada de la empresa mostró un rendimiento sólido con un crecimiento cercano al 20%. La empresa obtuvo aprobaciones de la FDA para dentaduras impresas en 3D de múltiples materiales y guías personalizadas para tobillos TOTAL ANKLE. La presentación del formulario 10-Q para el tercer trimestre de 2024 se ha retrasado debido a la necesaria valoración interina de la plusvalía y los activos de larga duración.
3D Systems (NYSE:DDD)는 2024년 3분기 예상 수익이 약 1억 1290만 달러라고 발표했습니다. 이는 2023년 3분기의 1억 2380만 달러와 비교하여 1090만 달러 감소한 수치입니다. 감소는 하드웨어 시스템 판매에 영향을 미친 거시경제적 요인들 때문입니다. 그러나 소모품 매출은 연간 10% 증가하고 분기별로도 9% 증가했습니다. 회사의 맞춤형 헬스케어 사업부는 거의 20% 성장을 기록했습니다. 회사는 다중 재료 제트 의치와 TOTAL ANKLE 개인 맞춤 가이드에 대한 FDA 승인을 확보했습니다. 2024년 3분기 10-Q 양식 제출은 영업권 및 장기 자산의 임시 평가가 필요하여 지연되고 있습니다.
3D Systems (NYSE:DDD) a annoncé des revenus préliminaires pour le troisième trimestre 2024 d'environ 112,9 millions de dollars, représentant une baisse de 10,9 millions de dollars par rapport aux 123,8 millions de dollars du troisième trimestre 2023. La diminution était principalement due à des facteurs macroéconomiques affectant les ventes de systèmes matériels. Cependant, les revenus des matériaux consommables ont augmenté de 10% par rapport à l'année précédente et de 9% par rapport au trimestre précédent. Le secteur de la Santé Personnalisée de l'entreprise a montré de bonnes performances avec une croissance de près de 20%. L'entreprise a obtenu les autorisations de la FDA pour des prothèses dentaires à jet multi-matériaux et des guides personnalisés pour la cheville TOTAL ANKLE. Le dépôt du formulaire 10-Q pour le troisième trimestre 2024 est retardé en raison de l'évaluation intermédiaire requise de la valeur incorporelle et des actifs à long terme.
3D Systems (NYSE:DDD) hat vorläufige Einnahmen für das dritte Quartal 2024 von etwa 112,9 Millionen Dollar angekündigt, was einen Rückgang um 10,9 Millionen Dollar im Vergleich zu den 123,8 Millionen Dollar des dritten Quartals 2023 darstellt. Der Rückgang war in erster Linie auf makroökonomische Faktoren zurückzuführen, die den Verkauf von Hardwaresystemen beeinflussten. Dennoch
- Materials revenue grew 10% year-over-year and 9% sequentially
- Personalized Healthcare business grew nearly 20% year-over-year
- FDA clearances secured for new dental and orthopedic products
- Cost reduction and restructuring plans progressing as expected
- Overall revenue declined by $10.9 million (8.8%) year-over-year
- Hardware systems sales continue to face macroeconomic pressures
- Delayed closing of key transactions impacted Q3 revenue
- Form 10-Q filing delayed due to required asset valuation
- Stock performance triggered need for interim goodwill valuation
Insights
The preliminary Q3 results reveal concerning trends for 3D Systems. Revenue declined to
The delayed 10-Q filing and need for interim valuation of goodwill and assets, triggered by poor stock performance, raises additional concerns. However, there are some positive signals: strong materials growth, FDA clearances for new products and ongoing restructuring efforts to reduce operating expenses. The
- Preliminary third quarter 2024 revenue to be approximately
$113 million * - Q3 materials grew
10% year-over-year and9% sequentially, offset by declines in printer revenues driven by continued macro-related pressures on capital spending* - Record year of product innovation and regulatory approvals supporting future growth in key markets such as Dental, Personalized Healthcare, Aerospace & Defense. This positions the company for exciting future revenue growth as the economy normalizes
- Management expects to release and discuss complete third quarter 2024 results the week of November 25, 2024
*The preliminary financial data above and below remains subject to the company’s close process. Accordingly, actual results may differ from the anticipated results shown.
ROCK HILL, S.C., Nov. 13, 2024 (GLOBE NEWSWIRE) -- 3D Systems (NYSE:DDD) today announced preliminary revenue results and provided a business update for third quarter 2024.
For third quarter 2024, the Company expects revenues of approximately
Commenting on preliminary third quarter 2024 revenue results, Dr. Jeffrey Graves, president and CEO of 3D Systems said, “As we review our third quarter performance, it’s clear that we are continuing to navigate through a challenging operating environment particularly related to new hardware systems sales. However, operations of our installed base, which is the largest in the world, remains very robust, driving strong materials utilization. Revenue from consumable materials grew
Dr. Graves continued, “Having sustained our investment in R&D during this challenging period, we are making considerable progress across our technology roadmap, which is the broadest in the industry, with a strong focus on innovation and attainment of critical scale in markets we view as key to future profitable growth. By maintaining our core R&D and application development momentum, we have set the stage to capitalize on the pent-up demand we expect to see in the near future. Over the last few weeks, we’ve validated our industry prowess for key healthcare applications, securing FDA clearances for multi-material, monolithic jetted dentures, which are expected to drive exciting growth in our dental business, and the new TOTAL ANKLE Patient-Matched Guides to further expand our offerings in orthopedic surgical planning and execution. Next week, our industry leading portfolio will be on full display at Formnext, the largest global additive manufacturing conference of the year, showcasing a full suite of new printers and materials that continue to drive new applications in high criticality markets like medical devices, investment casting, energy, automotive, aerospace and defense.”
Dr. Graves concluded, “We are executing against our previously announced restructuring plans to support a rigid framework to drive operational efficiency and cost reduction, while preserving critical R&D to lead the future of the additive manufacturing industry. Many of these actions are positively impacting our business, in line with our operating expense expectations for the quarter, and serve as the foundation for improvement going forward. We are diligently focused on continuing to reduce operating expenses and manage working capital to drive sustainable profitability, cash generation and enhanced shareholder value in the quarters ahead.”
Delayed Form 10-Q Filing
3D Systems will delay the filing of its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024 and file a Form 12b-25, Notification of Late Filing, with the Securities and Exchange Commission, which extends the deadline to file the Form 10-Q. The delay in filing was caused by the need for an interim valuation of goodwill and long-lived assets, triggered by recent performance of the company’s stock and market volatility as of September 30, 2024. This evaluation is normally conducted in the fourth quarter and so represented additional unplanned efforts for its completion in the third quarter. It has no impact on the company’s operations.
Third Quarter 2024 Financial Results Timing
The Company expects to release third quarter 2024 financial results the week of November 25, 2024.
Forward-Looking Statements
Certain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In many cases, forward-looking statements can be identified by terms such as "believes," "belief," "expects," "may," "will," "estimates," "intends," "anticipates" or "plans" or the negative of these terms or other comparable terminology. Forward-looking statements are based upon management’s beliefs, assumptions, and current expectations and may include comments as to the company’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings "Forward-Looking Statements" and "Risk Factors" in the company’s periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward-looking statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved. The forward-looking statements included are made only as of the date of the statement. 3D Systems undertakes no obligation to update or revise any forward-looking statements made by management or on its behalf, whether as a result of future developments, subsequent events or circumstances or otherwise, except as required by law.
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 markets such as medical and dental, aerospace & defense, automotive, and durable goods. More information on the company is available at www.3dsystems.com.
Investor Contact: | investor.relations@3dsystems.com |
Media Contact: | press@3dsystems.com |
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