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 | ) | |||
