3D Systems Corporation
Unaudited Loss Per Share
Quarter and Year Ended December 31, 2020 and 2019
| Quarter Ended December 31, | Year Ended December 31, | ||||||||||||||
| (in thousands, except per share amounts) | 2020 | 2019 | 2020 | 2019 | |||||||||||
| Numerator for basic and diluted net loss per share: | |||||||||||||||
| Net loss attributable to 3D Systems Corporation | $ | (19,830 | ) | $ | (4,714 | ) | $ | (149,594 | ) | $ | (69,880 | ) | |||
| Denominator for basic and diluted net loss per share: | |||||||||||||||
| Weighted average shares | 121,638 | 114,476 | 117,579 | 113,811 | |||||||||||
| Net loss per share - basic and diluted | $ | (0.16 | ) | $ | (0.04 | ) | $ | (1.27 | ) | $ | (0.61 | ) | |||
Appendix
3D Systems Corporation
Unaudited Reconciliations of GAAP to Non-GAAP Measures
Quarter and Year Ended December 31, 2020 and 2019
|
Quarter Ended December 31,
|
Year Ended December 31,
| ||||||||||||||
| (in millions, except per share amounts) | 2020 | 2019 | 2020 | 2019 | |||||||||||
| GAAP Revenue - as reported | $ | 172.7 | $ | 168.2 | $ | 557.2 | $ | 636.4 | |||||||
| Legal, acquisition and divestiture related | — | — | — | (2.8 | ) | ||||||||||
| Non-GAAP Revenue | 172.7 | 168.2 | 557.2 | 633.5 | |||||||||||
| GAAP Cost of sales - as reported | 100.2 | 94.0 | 333.9 | 355.8 | |||||||||||
| Amortization, stock-based compensation & other | 0.1 | 0.1 | 0.4 | 0.4 | |||||||||||
| Legal, acquisition and divestiture related | 0.1 | 0.1 | 0.4 | 4.1 | |||||||||||
| Cost optimization plan, including severance costs | 1.5 | — | 2.2 | 1.8 | |||||||||||
| Product end-of-life adjustment | — | — | 10.9 | — | |||||||||||
| Non-GAAP Cost of sales | 98.5 | 93.7 | 320.1 | 349.5 | |||||||||||
| GAAP Gross Profit - as reported | 72.5 | 74.3 | 223.3 | 280.5 | |||||||||||
| Amortization, stock-based compensation & other | 0.1 | 0.1 | 0.4 | 0.4 | |||||||||||
| Legal, acquisition and divestiture related | 0.1 | 0.1 | 0.4 | 1.2 | |||||||||||
| Cost optimization plan, including severance costs | 1.5 | — | 2.2 | 1.8 | |||||||||||
| Product end-of-life adjustment | — | — | 10.9 | — | |||||||||||
| Non-GAAP Gross Profit | 74.1 | 74.5 | 237.2 | 284.0 | |||||||||||
| GAAP Gross Profit Margin | 42.0 | % | 44.1 | % | 40.1 | % | 44.1 | % | |||||||
| Non-GAAP Gross Profit Margin | 42.9 | % | 44.3 | % | 42.6 | % | 44.8 | % | |||||||
| GAAP Selling, general and administrative - as reported | 52.7 | 59.3 | 219.9 | 254.4 | |||||||||||
| Amortization, stock-based compensation & other | 4.0 | 8.1 | 33.0 | 43.4 | |||||||||||
| Legal, acquisition and divestiture related | 3.7 | 1.4 | 4.1 | 5.5 | |||||||||||
| Cost optimization plan, including severance costs | 6.1 | 0.6 | 19.9 | 5.6 | |||||||||||
| Non-GAAP Selling, general and administrative | 38.9 | 49.2 | 162.8 | 199.8 | |||||||||||
| GAAP Research and development - as reported | 19.0 | 19.6 | 74.1 | 83.3 | |||||||||||
| Cost optimization plan, including severance costs | — | — | 0.1 | 0.3 | |||||||||||
| Non-GAAP Research and development | 19.0 | 19.6 | 74.0 | 83.0 | |||||||||||
| GAAP Goodwill impairment - as reported | — | — | 48.3 | — | |||||||||||
| Goodwill impairment | — | — | 48.3 | — | |||||||||||
| Non-GAAP Goodwill impairment | — | — | — | — | |||||||||||
| GAAP Operating Expenses - as reported | 71.7 | 79.0 | 342.3 | 337.6 | |||||||||||
| Amortization, stock-based compensation & other | 4.0 | 8.1 | 33.0 | 43.4 | |||||||||||
| Legal, acquisition and divestiture related | 3.7 | 1.4 | 4.1 | 5.5 | |||||||||||
| Cost optimization plan, including severance costs | 6.1 | 0.6 | 20.1 | 5.9 | |||||||||||
| Goodwill impairment | — | — | 48.3 | — | |||||||||||
| Non-GAAP Operating expenses | 58.0 | 68.9 | 236.9 | 282.8 | |||||||||||
| GAAP Operating Income - as reported | 0.7 | (4.7 | ) | (119.0 | ) | (57.1 | ) | ||||||||
| Amortization, stock-based compensation & other | 4.1 | 8.2 | 33.4 | 43.8 | |||||||||||
| Legal, acquisition and divestiture related | 3.8 | 1.5 | 4.5 | 6.7 | |||||||||||
| Cost optimization plan, including severance costs | 7.6 | 0.6 | 22.3 | 7.7 | |||||||||||
| Product end-of-life adjustment | — | — | 10.9 | — | |||||||||||
| Goodwill impairment | — | — | 48.3 | — | |||||||||||
| Non-GAAP Operating Income | 16.1 | 5.7 | 0.3 | 1.2 | |||||||||||
| Depreciation | 6.8 | 7.3 | 28.4 | 30.0 | |||||||||||
| Adjusted EBITDA | 22.9 | 12.9 | 28.7 | 31.2 | |||||||||||
| GAAP Other Income and expense, net - as reported | (16.8 | ) | (1.2 | ) | (24.4 | ) | (8.0 | ) | |||||||
| Amortization, stock-based compensation & other | 1.0 | — | 1.0 | — | |||||||||||
| Legal, acquisition and divestiture related | 14.0 | (1.0 | ) | 14.1 | 0.7 | ||||||||||
| Impairment of cost-method investments | — | 0.9 | 2.2 | 1.2 | |||||||||||
| Non-GAAP Other Income and expense, net | (1.8 | ) | (1.3 | ) | (7.2 | ) | (6.0 | ) | |||||||
| GAAP Net Income (loss) - as reported | (19.8 | ) | (4.7 | ) | (149.6 | ) | (69.9 | ) | |||||||
| Amortization, stock-based compensation & other | 5.1 | 8.2 | 34.4 | 43.9 | |||||||||||
| Legal, acquisition and divestiture related | 17.8 | 0.5 | 18.6 | 7.4 | |||||||||||
| Cost optimization plan, including severance costs | 7.6 | 0.7 | 22.3 | 7.7 | |||||||||||
| Impairment of cost-method investments | — | 0.9 | 2.2 | 1.2 | |||||||||||
| Product end-of-life adjustment | — | — | 10.9 | — | |||||||||||
| Goodwill impairment | — | — | 48.3 | — | |||||||||||
| Non-GAAP Net Income (loss) | $ | 10.6 | $ | 5.5 | $ | (13.1 | ) | $ | (9.6 | ) | |||||
3D Systems Corporation
