Welcome to our dedicated page for 3D Systems news (Ticker: DDD), a resource for investors and traders seeking the latest updates and insights on 3D Systems stock.
3D Systems Corp (symbol: DDD) is a pioneer in the 3D printing industry, offering a broad array of 3D printing and digital manufacturing solutions. The company's product portfolio includes 3D printers for plastics and metals, materials, software, on-demand manufacturing services, and digital design tools. With over 35 years of experience, 3D Systems is at the forefront of innovation in additive manufacturing, impacting a wide range of industries from healthcare and dental to aerospace, automotive, and durable goods.
3D Systems' operations are segmented into Healthcare Solutions and Industrial Solutions, with a significant portion of its revenue generated from the Industrial segment. The company has a strong global presence with offices and facilities across the Americas, EMEA, and APAC regions, although the majority of its revenue comes from the Americas.
The company's recent projects have showcased its advanced capabilities in both industrial and healthcare applications. For instance, 3D Systems has pioneered a first-to-market solution for jetted, monolithic dentures, combining bespoke materials to deliver high-performance dental prosthetics. This innovation has gained interest from leading dental labs and is expected to receive FDA clearance in the second half of 2024.
On the industrial front, 3D Systems continues to expand its portfolio. Recently, the company has seen growth in its metal 3D printing division with Wilting, an industrial machining and metal 3D printing service provider, adding multiple DMP Flex 350 metal 3D printers to its production line. This expansion will enable Wilting to meet increasing customer demand more efficiently.
Financially, 3D Systems has been proactive in managing its liabilities and maintaining a strong balance sheet. The company recently entered into repurchase agreements to buy back $110 million of its 0% Convertible Senior Notes due 2026, thereby reducing its outstanding debt significantly.
3D Systems' commitment to innovation is further exemplified by its developments in patient-specific medical devices. The FDA recently cleared its VSP® PEEK Cranial Implant solution, designed for use in cranioplasty procedures, which utilizes additive manufacturing to produce highly customized, cost-effective cranial implants.
Looking ahead, 3D Systems aims to harness its leadership in digital dentistry, with plans to expand its product offerings to include night guards and direct-printed clear aligners. The company has also secured a multi-year purchase agreement, valued at nearly a quarter-billion dollars, to support the indirect manufacturing process for clear aligners, a testament to its robust 3D printing technology and market leadership.
3D Systems' unique combination of hardware, software, materials, and services, powered by expert application engineers, ensures they continue to transform industries and empower their customers to innovate. More information on 3D Systems is available at www.3dsystems.com.
3D Systems announced two new production-grade materials: Figure 4 Tough Clear and DuraForm PAx Black. Figure 4 Tough Clear is the company's first clear material designed for long-term use, featuring enhanced clarity and mechanical properties for applications like lenses and consumer goods. DuraForm PAx Black offers injection-molding-like properties with low-temperature printing, high impact resistance, and significant long-term stability. Both materials aim to facilitate rapid production and integration into existing workflows, targeting various industrial applications. Availability is set for Q4 2022.
3D Systems (NYSE:DDD) has announced the launch of a new biotech company, Systemic Bio, aimed at revolutionizing drug development by leveraging advanced bioprinting technologies. The company will utilize its proprietary h-VIOS™ organ-on-a-chip platform to create vascularized human tissues for drug testing, potentially reducing costs and the reliance on animal testing. Initial seed funding of $15 million is provided, with expected revenues nearing $100 million annually within five years. Taci Pereira is appointed as CEO, bringing extensive experience in bioengineering.
3D Systems has partnered with HII to develop the copper-nickel alloy CuNi30, designed for direct metal printing. This innovation can potentially reduce lead times by up to 75%, addressing the needs in marine, offshore oil & gas, and chemical industries. The alloy boasts an average relative density of 99.88%, significantly surpassing traditional casting methods. CuNi30 will be available in Q4 2022, enhancing supply chain efficiency while minimizing inventory costs. This advancement could revolutionize manufacturing processes in sectors requiring corrosion-resistant materials.
3D Systems (NYSE:DDD) has appointed Dr. Toby Cosgrove and Dr. Bon Ku to its Medical Advisory Board, expanding its expertise in regenerative medicine. Dr. Cosgrove, former CEO of the Cleveland Clinic, brings extensive healthcare leadership and innovation experience. Dr. Ku, a leader in healthcare technology, directs the Health Design Lab at Thomas Jefferson University. Their appointments aim to enhance 3D Systems' growth in areas like human tissue printing and medical device innovation. Both professionals are expected to contribute significantly to the company’s strategic direction.
3D Systems Corporation (NYSE: DDD) reported Q2 2022 financial results, with revenue of $140.0 million, a 13.8% decline from Q2 2021. Non-GAAP revenue, excluding divestitures, increased 7.8% due to robust demand in Industrial and Healthcare sectors, despite supply chain issues. The company posted a diluted GAAP loss per share of $0.26. Cash reserves stand at $638.2 million. FY 2022 revenue guidance has been lowered to $530 million - $570 million, citing foreign exchange impacts and decreased customer spending.
3D Systems (NYSE:DDD) announced the appointment of Michael Turner as Executive Vice President and Chief Financial Officer, effective August 29, 2022. Turner, who brings over 20 years of financial expertise, previously served as CFO at Innovative Chemical Products and held various finance leadership roles at Albemarle Corporation. His experience includes driving financial controls and implementing technology-based strategies. CEO Dr. Jeffrey Graves expressed enthusiasm for Turner's impact on the company's growth trajectory. Wayne Pensky is recognized for his interim leadership during the transition.
3D Systems has collaborated with Fleet Space Technologies to develop RF patch antennas for their Alpha satellite constellation. Utilizing the DMP Flex 350 printer, Fleet Space will produce antennas in-house, significantly enhancing production efficiency. The development process, requiring only three weeks for small batch production, leverages advanced additive manufacturing techniques. This partnership aims to improve global connectivity and support sustainable mineral exploration. The DMP Flex 350 allows for precise manufacturing, reducing signal loss and operational costs.
3D Systems (NYSE:DDD) will announce its second quarter 2022 financial results on August 8, 2022, after U.S. market close. The company has scheduled a conference call and webcast for August 9, 2022, at 8:30 a.m. ET to discuss these results. Investors can access the webcast at 3D Systems Investor Relations. This event marks an important opportunity for stakeholders to gain insights into the company's performance and outlook.
3D Systems and EMS-GRILTECH have launched DuraForm® PAx Natural, a pioneering nylon copolymer for Selective Laser Sintering (SLS) platforms. Designed for high-impact and elongation applications, it operates at low temperatures (120°C), enhancing printing efficiency and reducing time to delivery. As the exclusive distributor, 3D Systems reports that this eco-friendly material can increase production throughput and minimize waste, featuring over five years of indoor stability. Early adopters commend its performance, highlighting a shift in the cost structure for SLS technology.
3D Systems has appointed Dr. David J. Shulkin, former U.S. Secretary of Veterans Affairs, to its newly formed Medical Advisory Board. The board's mission is to enhance the company's initiatives in regenerative medicine. Dr. Shulkin, noted for his leadership in healthcare management, aims to guide 3D Systems in expanding its Healthcare Solutions business, primarily focusing on dental and orthopedic applications. His experience in patient-centered care is expected to bolster the company's strategic direction in applying 3D printing technologies in medicine.
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