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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 (NYSE:DDD) announced its final 2023 financial results and plans to file its Annual Report on Form 10-K after market on August 13, 2024. Key points include:
1. No change in revenue ($488,069,000) but a slight improvement in net loss compared to preliminary results.
2. Significant filing delays and added costs due to extended close activities and audit procedures.
3. Higher G&A expenses for 2024, with external auditor fees and outside services expected to total over $9 million.
4. Plans to release Q1'24 results around August 19, 2024, and Q2'24 results the week of August 26, 2024.
5. Transition of independent audit firm began in Q1 2024, with substantial improvement in operating expenses expected from Q4.
3D Systems announced that NAMI has purchased their metal and polymer additive manufacturing technologies to enhance the supply chain of the Saudi Electricity Company (SEC).
Technologies include the DMP Factory 500, DMP Flex 350 Dual, and SLS 380. This will support SEC in producing spare parts locally, reducing production time, storage needs, and costs, while increasing efficiency.
The collaboration aims to develop a digital inventory system, reduce physical inventory requirements, and implement NoSupports printing strategies. The partnership is part of Saudi Arabia's Vision 2030 to boost local manufacturing in the defense, energy, and manufacturing sectors.
The additive manufacturing market in the energy sector is projected to grow from $2.6 billion in 2023 to $17 billion by 2032.
3D Systems (NYSE: DDD) announced a strategic partnership with Precision Resource to enhance metal additive manufacturing applications in critical markets such as automotive, aerospace, and medical devices. Precision Resource will integrate two 3D Systems DMP Flex 350 Dual 3D printers into its Huntington Beach facility. These printers offer superior environmental control and inert atmosphere capabilities, ensuring high-quality parts. The collaboration aims to leverage both companies' expertise to meet evolving customer needs and address supply chain issues through vertical integration. The DMP Flex 350 platform supports flexible applications from development to serial production and includes features like quick module swaps, fast powder recycling, and a central server for 24/7 productivity.
According to Chris Gratton from Precision Resource, this partnership will position the company at the forefront of metal additive manufacturing advancements. Jeph Ruppert from 3D Systems highlighted the collaboration's potential to improve quality, reduce costs, and expedite time-to-market for high-criticality components.
3D Systems (NYSE:DDD) announced the EXT 800 Titan Pellet, a new addition to its pellet extrusion systems portfolio. With a build volume of 800 x 600 x 800 mm, this compact, cost-effective system offers manufacturers high-speed printing at up to 10 times the speed and 10 times lower material costs than traditional filament-based systems. It is designed for a wide range of applications, including aerospace, defense, and foundries, and supports materials like ABS, PC, and Nylons. The EXT 800 Titan Pellet will be available for ordering immediately, with deliveries starting in Q3 2024.
3D Systems (NYSE:DDD) is expanding its portfolio in the digital dentistry market, focusing on tooth alignment, protection, repair, and replacement. The company announced its largest contract ever, valued at nearly a quarter billion dollars over five years, for clear aligner manufacturing. They plan to launch direct printing technology for clear aligners by late 2025 and are expanding into night guards and single-piece dentures, targeting approvals by late 2024. The dental market is expected to reach $14 billion by 2032. 3D Systems aims to lead in this market with a broad range of 3D printing solutions.
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