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 has received FDA 510(k) clearance for its Vantage® Ankle Patient-Specific Instrumentation (PSI), designed to streamline total ankle replacement surgeries. This product, developed in collaboration with Exactech, reduces the number of procedural steps and operation room time, enhancing overall surgical efficiency and soft-tissue preservation. The Vantage Ankle PSI offers a unique patient-specific approach, enabling direct osteotomies and better visualization of the surgical area. Full market availability is expected by late 2021 after a pilot launch.
3D Systems (DDD) announced the completion of the first test print using its groundbreaking 9-laser metal 3D printer, designed for military applications including long-range munitions and combat vehicles. This printer, part of a $15 million contract, features a unique powder deposition process that minimizes material use and cost, while enhancing part quality. The collaboration with the Army Research Laboratory aims to transform manufacturing capabilities, with plans for further development to improve the U.S. defense supply chain.
3D Systems Corporation (NYSE: DDD) reported its Q3 2020 financial results, highlighting GAAP revenue of $135.1 million, down from $155.3 million in Q3 2019, but a 20.6% increase from Q2 2020. The company incurred a GAAP loss of $0.61 per share, exacerbated by a $48.3 million goodwill impairment charge. Non-GAAP loss per share improved to $0.03. Operating expenses surged 59.4% to $126.2 million, while cash on hand decreased to $75.3 million. The company is on track to realize $60 million in annual savings and anticipates further divestitures to bolster its balance sheet.
3D Systems (NYSE:DDD) has partnered with the Veterans Health Administration (VHA) to develop FDA-compliant medical device manufacturing facilities using additive manufacturing solutions. This collaboration aims to enhance patient care by enabling the production of next-generation medical devices at the point of care within VHA hospitals. 3D Systems will assist in designing devices, managing regulatory processes, and training VHA staff on quality management systems. This initiative builds on previous efforts to address supply chain issues during the COVID-19 pandemic, marking a significant expansion in healthcare innovation.
Battery Ventures is set to acquire the Cimatron and GibbsCAM software businesses from 3D Systems Corporation (NYSE: DDD). This strategic move is expected to close in Q4 2020, pending customary conditions. The two software businesses will join SigmaTEK Systems under a new holding company, CAMBRIO, led by Robbie Payne. The acquisition aims to enhance product development and expand market presence by leveraging combined expertise in CAD/CAM technologies, targeting industries such as fabrication and production machining.
3D Systems has agreed to sell Cimatron Ltd. and related subsidiaries to Battery Ventures for $65 million as part of its reorganization strategy. This transaction focuses the company on enhancing its position in additive manufacturing. The sale is expected to finalize in Q4 2020, which will influence the company's equity offerings. 3D Systems aims to align its operations with core strengths to foster growth in evolving markets.
3D Systems (NYSE: DDD) will announce its third quarter 2020 financial results on November 5, 2020, after market close. A conference call to discuss the results is scheduled for November 6, 2020, at 10:00 a.m. ET. Investors can listen to the call via webcast or telephone. The press release includes forward-looking statements about potential risks and uncertainties that might affect future performance. 3D Systems has been a leader in 3D printing technology for over 30 years, providing innovative solutions across various sectors including healthcare and industrial markets.
3D Systems (NYSE: DDD) announced a reorganization strategy, establishing two business units: Healthcare Solutions and Industrial Solutions. Menno Ellis will lead the Healthcare Solutions Group, overseeing its Dental, Medical Device, and Simulation businesses. He brings extensive experience in growth strategies. Reji Puthenveetil will head the Industrial Solutions Group, focusing on sectors such as Aerospace, Defense, and Energy. This restructuring aims to bolster value creation in the additive manufacturing market, as emphasized by CEO Dr. Jeffrey Graves.
3D Systems announced FDA 510(k) clearance for its new maxillofacial surgical guides made from LaserForm Ti and DuraForm ProX PA materials, enhancing surgical performance. This clearance allows for innovative designs, improving strength and visibility in surgical sites. The VSP technology combines medical imaging with 3D printing, aiding over 120,000 unique patient cases. With these new guides, surgeons gain flexibility in design and sterilization processes, potentially improving patient outcomes in reconstructive surgeries.
3D Systems (NYSE: DDD) announced a significant advancement in additive manufacturing through its partnership with ACS Custom. Utilizing Figure 4 technology and Figure 4 PRO-BLK 10 material, ACS Custom transformed its digital workflow, achieving a 4X increase in capacity and a 2X boost in efficiency. Material consumption was reduced by 50%, and labor costs were lowered by 80% for specific parts. The Figure 4 solution delivers fast production speeds, enabling the creation of high-quality, custom hearing protection devices while enhancing product development cycles.
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