3D Systems Reports Second Quarter 2021 Financial Results

ROCK HILL, S.C., Aug. 09, 2021 (GLOBE NEWSWIRE) -- 3D Systems Corporation (NYSE:DDD) announced today its financial results for the second quarter ended June 30, 2021.

Second Quarter Financial and Operational Results

  • Revenue of $162.6 million reflects double-digit growth on a consecutive-quarter and year-over-year basis
  • Adjusted for divestitures, revenue was 11.4% higher than second quarter 2019 reflecting acceleration beyond pre-pandemic performance levels, a key indicator of business strength
  • Strong gross margins and operating efficiencies drove significantly improved profitability, with Adjusted EBITDA margin of 12.4%, GAAP loss per share of $0.08 and non-GAAP earnings per share of $0.12
  • Financial performance yielded positive operating cash flow of $13.5 million to support ongoing investments for organic growth
  • Announced agreements to sell remaining non-core assets, with anticipated completion in Q3. Following close of transactions, cash on the balance sheet is expected to rise from $131.8 million at quarter end to over $500 million with no debt
  • Company is well positioned for continued organic growth and profitability, with a strong balance sheet to support strategic investments
   Quarter Ended June 30,
(in millions, expect per share data)  2021  2020
Revenue $162.6   $112.8  
Operating loss $(10.1) $(33.9)
Net income (loss) $(9.6) $(38.0)
Net income (loss) per share - basic $(0.08) $(0.33)
Net income (loss) per share - diluted $(0.08) $(0.33)
     
Non-GAAP measures for year-over-year comparisons (1)  
Non-GAAP operating income (loss) $13.8   $(10.8)
Non-GAAP net income (loss) $14.2   $(15.1)
Non-GAAP income (loss) per share - basic $0.12   $(0.13)
Non-GAAP income (loss) per share - diluted $0.12   $(0.13)
Adjusted EBITDA $20.1   $(3.6 )

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