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3D Systems Corporation
Unaudited Consolidated Statements of Cash Flows Nine Months Ended September 30, 2023 , 2022 | |||||||
| Nine Months Ended | |||||||
| (in thousands) | September 30, 2023 | September 30, 2022 | |||||
| Cash flows from operating activities: | |||||||
| Net (loss) income before redeemable non-controlling interest | $ | (70,169 | ) | $ | (97,342 | ) | |
| Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | |||||||
| Depreciation, amortization and accretion of debt discount | 27,054 | 28,264 | |||||
| Stock-based compensation | 15,140 | 31,508 | |||||
| Loss on short-term investments | 6 | 2,609 | |||||
| Non-cash operating lease expense | 6,552 | 4,796 | |||||
| Provision for inventory obsolescence and revaluation | 6,061 | 646 | |||||
| Provision for bad debts | 197 | 329 | |||||
| Loss (gain) on the disposition of businesses, property, equipment and other assets | 51 | (365 | ) | ||||
| Provision for deferred income taxes and reserve adjustments | 141 | 1,666 | |||||
| Loss on equity method investment | 747 | — | |||||
| Asset impairment | 14,856 | 2,359 | |||||
| Changes in operating accounts: | |||||||
| Accounts receivable | (11,706 | ) | (1,513 | ) | |||
| Inventories | (23,106 | ) | (30,342 | ) | |||
| Prepaid expenses and other current assets | (2,790 | ) | 2,562 | ||||
| Accounts payable | (7,717 | ) | (1,666 | ) | |||
| Deferred revenue and customer deposits | 1,351 | (3,468 | ) | ||||
| Accrued and other liabilities | (16,066 | ) | 12,387 | ||||
| All other operating activities | (12,495 | ) | (4,879 | ) | |||
| Net cash (used in) provided by operating activities | (71,893 | ) | (52,449 | ) | |||
| Cash flows from investing activities: | |||||||
| Purchases of property and equipment | (20,995 | ) | (17,055 | ) | |||
| Purchases of short-term investments | — | (384,406 | ) | ||||
| Sales and maturities of short-term investments | 180,925 | 112,050 | |||||
| Acquisitions and other investments, net of cash acquired | (29,241 | ) | (84,705 | ) | |||
| Net cash provided by (used in) investing activities | 130,689 | (374,116 | ) | ||||
| Cash flows from financing activities: | |||||||
| Purchase of non-controlling interests | — | (2,300 | ) | ||||
| Taxes paid related to net-share settlement of equity awards | (4,752 | ) | (10,195 | ) | |||
| Other financing activities | (463 | ) | (486 | ) | |||
| Net cash (used in) provided by financing activities | (5,215 | ) | (12,981 | ) | |||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 1,561 | (7,911 | ) | ||||
| Net increase (decrease) in cash, cash equivalents and restricted cash | 55,142 | (447,457 | ) | ||||
| Cash, cash equivalents and restricted cash at the beginning of the year (a) | 391,975 | 789,970 | |||||
| Cash, cash equivalents and restricted cash at the end of the period (a) | $ | 447,117 | $ | 342,513 | |||
