- Company plans to file its 2023 Annual Report on Form 10-K after market on August 13, 2024
- Significant filing delays and added costs were experienced due to extended close activities and related audit procedures in connection with the 2023 audit
- Final 2023 financial results yielded no change to revenue, and slight improvement in net loss, versus preliminary results filed on February 28, 2024
- No restatement of prior years’ results
- Consistent with prior disclosures, the planned transition of the company’s independent audit firm began in Q1 of 2024
- Company plans to release Q1’24 financial results on or about August 19, 2024 and Q2’24 financial results the week of August 26, 2024, followed by a call with investors to discuss results for the first half and outlook for the full year
ROCK HILL, S.C., Aug. 13, 2024 (GLOBE NEWSWIRE) -- 3D Systems (NYSE:DDD) (“the Company”) today announced that it plans to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the “Form 10-K”) with the Securities and Exchange Commission (the “SEC”) after market.
In connection with the Company’s efforts as it concluded its audit, certain reclassifications and adjustments were made to its fourth quarter and full year 2023 financial results, originally furnished to the SEC on the Company’s Current Report on Form 8-K filed on February 28, 2024. Revisions relate primarily to a reduction in the impairment of goodwill, a decrease in interest income and changes in certain expenses. Supplemental financial statements and GAAP to non-GAAP reconciliations are included in the Appendix. Changes to originally reported information are shown below:
| Unaudited | Three Months Ended December 31, 2023 | Year Ended December 31, 2023 | ||||||||||||||
| (in thousands, expect per share data) | Preliminary - Previously Filed |
Final - To Be
Filed | Preliminary -Previously Filed |
Final - To Be
Filed | ||||||||||||
| Revenue | $ | 114,848 | $ | 114,848 | $ | 488,069 | $ | 488,069 | ||||||||
| Gross profit | $ | 46,348 | $ | 43,957 | $ | 198,812 | $ | 196,421 | ||||||||
| Operating loss | $ | (335,594 | ) | $ | (327,295 | ) | $ | (414,303 | ) | $ | (406,004 | ) | ||||
| Net loss attributable to 3D Systems Corporation | $ | (300,412 | ) | $ | (292,668 | ) | $ | (370,432 | ) | $ | (362,688 | ) | ||||
| Diluted loss per share | $ | (2.30 | ) | $ | (2.25 | ) | $ | (2.85 | ) | $ | (2.79 | ) | ||||
| Non-GAAP measures for year-over-year comparisons (1) | ||||||||||||||||
| Non-GAAP gross profit margin | 41.9 | % | 39.8 | % | 41.1 | % | 40.6 | % | ||||||||
| Adjusted EBITDA | $ | (12,260 | ) | $ | (13,993 | ) | $ | (24,525 | ) | $ | (26,258 | ) | ||||
| Non-GAAP diluted loss per share | $ | (0.11 | ) | $ | (0.13 | ) | $ | (0.26 | ) | $ | (0.28 | ) | ||||
