ROCK HILL, S.C., May 10, 2021 (GLOBE NEWSWIRE) -- 3D Systems Corporation (NYSE:DDD) announced today its financial results for the first quarter ended March 31, 2021.
First Quarter Financial and Operational Results
- Q1 2021 revenue increased by 7.7% to $146.1 million, compared to $135.6 million in Q1 2020
- Organic revenue growth, which excludes businesses divested in 2020, was 16.6% for Q1 2021 compared to Q1 2020
- Q1 2021 gross margins of 44.0% compared to gross margins of 42.1% in Q1 2020
- Q1 2021 GAAP earnings of $0.36 per diluted share compared to a loss of $0.17 per share in Q1 2020
- Q1 2021 Non-GAAP earnings of $0.17 per diluted share compared to a loss of $0.04 per share in Q1 2020
- GAAP operating loss of $2.0 million and GAAP net income of $45.2 million
- Strong revenue growth and cost improvements drove adjusted EBITDA margins of 13.6% and positive operating cash flow of $28.5 million
| Quarter Ended March 31, | ||||||||
| (in millions, expect per share data) | 2021 | 2020 | ||||||
| Revenue | $ | 146.1 | $ | 135.6 | ||||
| Operating loss | $ | (2.0 | ) | $ | (18.2 | ) | ||
| Net income (loss) | $ | 45.2 | $ | (18.9 | ) | |||
| Net income (loss) per share - basic | $ | 0.37 | $ | (0.17 | ) | |||
| Net income (loss) per share - diluted | $ | 0.36 | $ | (0.17 | ) | |||
| Non-GAAP measures for year-over-year comparisons (1) | ||||||||
| Non-GAAP operating income (loss) | $ | 13.1 | $ | (5.0 | ) | |||
| Non-GAAP net income (loss) | $ | 20.9 | $ | (4.5 | ) | |||
| Non-GAAP income (loss) per share - basic | $ | 0.17 | $ | (0.04 | ) | |||
| Non-GAAP income (loss) per share - diluted | $ | 0.17 | $ | (0.04 | ) | |||
| Adjusted EBITDA | $ | 19.8 | $ | 2.2 | ||||
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