NYSE$DDD
3D Systems Corp. · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Announced third quarter results, impacted by sluggish capital investments, offset by consumables growth and strong demand for Application Innovation Group.
3D Systems reported a decrease in revenue by 9% year-over-year, primarily due to macro weakness in printer sales, while healthcare solutions revenue increased by 5%. The company experienced a net loss of $178.6 million, including a $143.7 million impairment charge. They are updating guidance for the remainder of FY'24 to include expected full-year revenues within the range of $440 million - $450 million.
- Revenue decreased 9% year-over-year to $112.9 million due to macro weakness in printer sales, but consumables sales grew by approximately 10%.
- Healthcare Solutions revenue grew 5% year-over-year to $55.1 million, driven by Dental and Personalized Healthcare solutions.
- Customer interest in 3D printing applications continued to increase, with revenues in the Application Innovation Group (AIG) growing over 26% year-to-date.
- Q3'24 net loss was $178.6 million, or $1.35 diluted loss per share, including $143.7 million associated with asset impairment, with a non-GAAP diluted loss per share of $0.12.
Headline financials
Revenue & EPS history
3D Systems · Revenue · Quarterly
$113M
Revenue by segment
3D Systems · $124M total across 2 segments · Q3 2023
- Industrial Solutions$71.4M—57.6%
- Healthcare Solutions$52.4M—42.4%
Forward guidance
3D Systems updated its full-year 2024 revenue guidance to a range of $440 million to $450 million, expects Non-GAAP operating expenses to be less than $60 million for Q4'24, and anticipates sequential improvement in Adjusted EBITDA.
Tailwinds
- OPEX will decrease again in Q4, to below $60 million.
- Combined factors should yield a sequential improvement in Adjusted EBITDA
- Company will be placed on a trajectory towards profitability in the quarters ahead.
- Consistent fueling of R&D engines is now driving an acceleration of exciting new customer applications.
- Supported by outstanding new products spanning from new printer hardware to advanced engineering materials, to enhancement of our software capabilities.
Headwinds
- Macroeconomic and geopolitical headwinds.
- Timing uncertainties and normal quarter-to-quarter inventory management at year-end.
- Sluggish capital investments by customers for new production capacity, particularly in the Industrial markets, impacting the sale of new printing systems.
- Third quarter revenues continued to be impacted by the above.
- Gross profit margin decreased primarily due to unfavorable absorption associated with lower volumes and approximately $3 million associated with an increase in inventory reserves.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2024
-2.5%
Avg return
Earnings day
-3.7%
Avg return
5 days after
-0.9%
Avg return
30 days after
38%
25 / 65 earnings
Positive
+34.5%
Q2 2018
Best reaction
-27.8%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.2% | +21.9% | +16.6% | |
| Q4 2025 | -1.9% | +23.5% | -2.0% | |
| Q3 2025 | -0.8% | -13.4% | -17.6% | |
| Q1 2025 | -27.8% | -32.5% | -31.8% | |
| Q4 2024 | -21.0% | -23.9% | -28.7% | |
| Q3 2024 | -14.0% | -13.4% | +1.2% | |
| Q2 2024 | -7.0% | -17.0% | +25.7% | |
| Q1 2024 | +0.0% | +1.5% | +1.2% | |
| Q4 2023 | -22.2% | -18.2% | -14.1% | |
| Q3 2023 | -1.9% | -0.7% | +40.3% | |
| Q2 2023 | -12.0% | -11.3% | -34.8% | |
| Q1 2023 | -9.4% | -10.1% | +8.8% | |
| Q4 2022 | +10.2% | +12.9% | +1.0% | |
| Q3 2022 | +4.6% | +28.3% | +21.8% | |
| Q2 2022 | -10.7% | -1.7% | -24.0% | |
| Q1 2022 | -7.9% | -6.0% | -0.5% | |
| Q4 2021 | -1.0% | -16.2% | -2.2% | |
| Q3 2021 | -10.3% | -20.7% | -27.2% | |
| Q2 2021 | +24.5% | +9.0% | +12.3% | |
| Q1 2021 | +25.1% | +16.2% | +55.4% | |
| Q4 2020 | -13.0% | -36.2% | -30.3% | |
| Q3 2020 | +5.6% | +23.7% | +77.0% | |
| Q2 2020 | -8.3% | -9.4% | -20.9% | |
| Q1 2020 | -10.4% | -11.2% | -2.6% | |
| Q4 2019 | -8.1% | -10.1% | -30.0% | |
| Q3 2019 | +8.3% | +11.1% | -3.1% | |
| Q2 2019 | -14.3% | -13.6% | -8.9% | |
| Q1 2019 | -22.2% | -21.2% | -23.3% | |
| Q4 2018 | -14.7% | -18.0% | -24.4% | |
| Q3 2018 | -22.7% | -17.3% | -20.2% | |
| Q2 2018 | +34.5% | +48.9% | +39.9% | |
| Q1 2018 | -10.5% | -3.4% | +19.7% | |
| Q4 2017 | +7.0% | +0.3% | -0.7% | |
| Q3 2017 | -20.1% | -23.9% | -25.3% | |
| Q2 2017 | -21.6% | -24.1% | -24.8% | |
| Q1 2017 | -1.5% | +16.4% | +26.6% | |
| Q4 2016 | -10.9% | -14.2% | -12.5% | |
| Q3 2016 | -4.7% | +3.7% | +3.6% | |
| Q2 2016 | +17.1% | +26.1% | +22.5% | |
| Q1 2016 | -9.3% | — | — | |
| Q4 2015 | +9.4% | — | — | |
| Q3 2015 | +0.1% | — | — | |
| Q2 2015 | +14.7% | — | — | |
| Q1 2015 | -8.6% | — | — | |
| Q4 2014 | +1.5% | — | — | |
| Q3 2014 | +0.4% | — | — | |
| Q2 2014 | -14.5% | — | — | |
| Q1 2014 | -3.9% | — | — | |
| Q4 2013 | +0.3% | — | — | |
| Q3 2013 | +6.9% | — | — | |
| Q2 2013 | -6.5% | — | — | |
| Q1 2013 | +5.3% | — | — | |
| Q4 2012 | -7.5% | — | — | |
| Q3 2012 | +18.8% | — | — | |
| Q2 2012 | +9.6% | — | — | |
| Q1 2011 | +3.6% | — | — | |
| Q1 2012 | +3.6% | — | — | |
| Q4 2009 | +15.4% | — | — | |
| Q4 2011 | +15.4% | — | — | |
| Q1 2010 | +15.4% | — | — | |
| Q3 2011 | -16.3% | — | — | |
| Q3 2010 | -16.3% | — | — | |
| Q2 2011 | -2.7% | — | — | |
| Q2 2010 | -2.7% | — | — | |
| Q4 2010 | -2.7% | — | — |
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