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 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.
3D Systems announced the appointment of Jagtar Narula as Executive Vice President and CFO, effective September 14. Narula brings 28 years of financial leadership, previously serving at Blackbaud Corporation and holding positions at Xerox and GE. His expertise in investment strategy and M&A is expected to enhance capital deployment and drive growth. CEO Dr. Jeffrey Graves emphasized the importance of Narula's experience in leading technology companies during this pivotal transition and thanked interim CFO Wayne Pensky for facilitating the leadership change.
3D Systems Corporation (NYSE:DDD) reported Q2 2020 results, revealing a 28.7% decline in revenue at $112.1 million, down from $157.3 million in Q2 2019. The company recorded a GAAP loss of $0.33 per share, worse than the $0.21 loss in the prior year. To enhance profitability, 3D Systems is restructuring to cut $100 million in operating costs and reducing its workforce by 20%. The firm holds $63.9 million in cash, down $69.7 million since Dec 2019. The ongoing pandemic continues to impact operations significantly.
3D Systems (NYSE: DDD) is restructuring to focus on two key verticals: Healthcare and Industrial. This strategic shift aims to enhance the adoption of additive manufacturing in high-reliability applications. The company plans to reduce operating costs by $100 million annually, primarily through a workforce reduction of nearly 20%. The reorganization will incur a cash charge of $25 to $30 million. Additionally, the Board has approved an at-the-market equity program to raise up to $150 million to support this transformation amidst pandemic uncertainties.
3D Systems (NYSE: DDD) announced a conference call to discuss its Q2 2020 financial results on August 5, 2020, at 4:30 PM ET. The company will release these results and file its Form 10-Q after the market closes that same day. Investors can listen through a webcast or participate via telephone at 201-689-8345. A replay will be available approximately two hours after the call at the same link. Forward-looking statements are cautioned, emphasizing the uncertainty surrounding future results.
3D Systems Corporation (NYSE:DDD) reported Q1 2020 GAAP revenue of $134.7 million, down from $152.0 million a year ago, largely affected by COVID-19. Printer revenue declined 35.5%, while healthcare solutions and on-demand services also saw decreases of 7.3% and 12.8%, respectively. The company reported a GAAP loss of $0.17 per share, an improvement from $0.22 in Q1 2019. Operating expenses decreased by 13.4% to $75.4 million, while gross profit margins slightly decreased. 3D Systems utilized a tax benefit of $3.2 million under the CARES Act.
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