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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 Corporation (NYSE: DDD) reported a 7.7% increase in Q1 2021 revenue, amounting to $146.1 million, driven by 16.6% organic growth excluding divestitures. The company achieved 44.0% gross margins and GAAP earnings of $0.36 per share, marking a turnaround from a loss of $0.17 per share in Q1 2020. Strong growth in the Healthcare sector, which grew 39%, was noted, while Industrial sales saw a slight decrease of 11.7%. Significant cash reserves of $133 million and focused investments indicate a positive long-term outlook.
3D Systems (NYSE:DDD) announced significant acquisitions to bolster its initiatives in regenerative medicine and industrial-scale additive manufacturing. The company acquired Allevi, a bioprinting solutions provider, to enhance its capabilities in medical research and development labs, targeting a market projected to grow over 15% annually. Additionally, 3D Systems has signed an agreement to acquire Additive Works, a software firm specializing in optimization for 3D printing. These strategic moves aim to accelerate growth and address expanding application opportunities in these fields.
3D Systems has announced a significant expansion of its facility in Denver, Colorado, adding 50,000 square feet to support its healthcare solutions. This will enhance the company's capacity for patient-specific healthcare and industrial applications, utilizing advanced polymer and metal additive manufacturing technologies. The expansion aims to meet the growing demand for high-reliability products and is expected to be completed in the second quarter of 2022.
3D Systems (NYSE: DDD) has launched VSP® Hybrid Guides, a groundbreaking solution for maxillofacial surgeons combining titanium's strength with nylon's softness, enhancing surgical precision. Developed from customer feedback, these patient-specific guides offer improved visibility and confidence during procedures. The guides are designed for easy connection and can accommodate multiple cutting locations, saving time in the operating room. Currently in a limited launch, they're expected to be widely available by May 2021, marking a significant advancement in personalized surgical solutions.
3D Systems (DDD) announced its financial results for Q1 2021 will be available after market close on May 10, 2021. A conference call and webcast for discussing these results is scheduled for May 11, 2021, at 8:30 a.m. Eastern Time. Investors can listen via the company’s investor website or participate through a dedicated telephone line. The company has provided standard forward-looking statements cautioning about risks and uncertainties that may affect future results and performance.
3D Systems (NYSE: DDD) announced a collaboration with Huntington Ingalls Industries’ Newport News Shipbuilding to develop Copper-Nickel (CuNi) and Nickel-Copper (NiCu) alloys for additive manufacturing. These new marine alloys aim to replace traditional casting methods, potentially reducing lead times by up to 75% and enhancing supply chain efficiency. The materials, known for their corrosion resistance and durability, will enable the production of complex parts traditionally made through lengthy casting processes. Successful development could expand 3D Systems' materials portfolio for various applications.
3D Systems announced a delay in filing its Annual Report on Form 10-K due to cash flow presentation issues related to the divestiture of its Cimatron and GibbsCam software businesses. Despite this, the company reported a Q4 2020 revenue of $172.7 million, a 2.6% increase from Q4 2019, driven by a 48% growth in its Healthcare segment. Overall FY 2020 revenue was $557.2 million, down 12.4% from 2019 due to COVID-19 impacts. The company anticipates gross profit margins between 40% and 44% for 2021, with improved liquidity and cost savings initiatives enhancing future prospects.
3D Systems (NYSE:DDD) has launched its High Speed Fusion (HSF) industrial 3D printer platform, developed in collaboration with Jabil Inc. The new Roadrunner printer promises printing speeds three times faster than standard systems while achieving high precision. With capabilities for high-temperature materials, the marketplace for these solutions is valued at over $400 million. This innovation aims to cater to demanding sectors like aerospace and automotive, addressing previous limitations of high production costs and low throughput.
3D Systems (DDD) has delayed its fourth quarter and full year 2020 conference call, now set for March 2, 2021, after filing financial results on March 1, 2021. The company reaffirmed preliminary revenue expectations for Q4 2020 between $170M to $176M, and a GAAP operating loss ranging from $(8.6)M to $0.5M. Notably, the company may report internal control deficiencies, potentially indicating material weaknesses in its fiscal 2020 Annual Report.
3D Systems (NYSE: DDD) has been selected by Raytheon Technologies and the U.S. Army Research Laboratory to assist in a project aimed at optimizing additively manufactured parts for military applications. This innovative research will focus on improving heat transfer and overall system performance using 3D Systems' DMP Factory 500 metal 3D printing solution. The initiative aims to enhance the Army's modernization efforts by integrating advanced technologies in design, monitoring, and data security.
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