3D Systems Reports Third Quarter 2020 Financial Results

Unaudited Condensed Consolidated Statements of Operations
Quarter and Nine Months Ended September 30, 2020 and 2019

  Quarter Ended September 30,  Nine Months Ended September 30,
(in thousands, except per share amounts) 2020  2019  2020  2019
Revenue:       
Products$77,267  $94,506  $217,572  $280,611 
Services57,880  60,766  164,340  183,913 
Total revenue135,147  155,272  381,912  464,524 
Cost of sales:       
Products49,010  58,044  150,395  166,809 
Services27,510  29,947  80,591  91,430 
Total cost of sales76,520  87,991   230,986     258,239  
Gross profit 58,627     67,281     150,926     206,285  
Operating expenses:              
Selling, general and administrative 59,065     58,275     167,213     195,036  
Research and development 18,866     20,940     55,107     63,654  
Impairment of goodwill 48,300         48,300      
Total operating expenses 126,231     79,215     270,620     258,690  
Loss from operations (67,604 )   (11,934 )   (119,694 )   (52,405 )
Interest and other (expense) income, net (2,419 )   (2,818 )   (7,598 )   (6,774 )
Loss before income taxes (70,023 )   (14,752 )   (127,292 )   (59,179 )
Provision for income taxes (2,866 )   (2,010 )   (2,472 )   (5,793 )
Net loss (72,889 )   (16,762 )   (129,764 )   (64,972 )
Less: net income attributable to noncontrolling interests     81         195  
Net loss attributable to 3D Systems Corporation $ (72,889 )   $ (16,843 )   $ (129,764 )   $ (65,167 )
               
Net loss per share available to 3D Systems Corporation common stockholders - basic and diluted $ (0.61 )   $ (0.15 )   $ (1.12 )   $ (0.57 )
                               

3D Systems Corporation

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