3D Systems Reports First Quarter 2021 Financial Results

3D Systems Corporation
Loss Per Share
Quarter Ended March 31, 2021 and 2020

	Quarter Ended March 31,
*(in thousands, except per share amounts)*	2021		2020
Numerator:
Net income (loss)	$	45,228	$	(18,924	)
Denominator:
Weighted average shares - basic	121,705		114,590
Dilutive securities	3,365		—
Weighted average shares - diluted	125,070		114,590

Net income (loss) per share - basic	$	0.37	$	(0.17	)
Net income (loss) per share - diluted	$	0.36	$	(0.17	)

Appendix
3D Systems Corporation
Unaudited Reconciliations of GAAP to Non-GAAP Measures
Quarter Ended March 31, 2021 and 2020

	Quarter Ended March 31,
*(in millions)*	2021				2020
GAAP Revenue - as reported	$	146.1			$	135.6
Non-GAAP Revenue	146.1				135.6
GAAP Cost of sales - as reported	81.9				78.5
Amortization, stock-based compensation & other	0.1				0.1
Legal, acquisition and divestiture related	—				0.1
Cost optimization plan, including severance costs	—				0.7
Non-GAAP Cost of sales	81.9				77.7
GAAP Gross Profit - as reported	64.2				57.1
Amortization, stock-based compensation & other	0.1				0.1
Legal, acquisition and divestiture related	—				0.1
Cost optimization plan, including severance costs	—				0.7
Non-GAAP Gross Profit	64.3				58.0
GAAP Gross Profit Margin	44.0			%	42.1			%
Non-GAAP Gross Profit Margin	44.0			%	42.7			%
GAAP Selling, general and administrative - as reported	49.6				56.1
Amortization, stock-based compensation & other	13.3				10.6
Legal, acquisition and divestiture related	0.5				0.2
Cost optimization plan, including severance costs	1.0				1.5
Non-GAAP Selling, general and administrative	34.6				43.9
GAAP Research and development - as reported	16.6				19.2
Cost optimization plan, including severance costs	—				0.1
Non-GAAP Research and development	16.6				19.1
GAAP Operating Expenses - as reported	66.2				75.3
Amortization, stock-based compensation & other	13.3				10.6
Legal, acquisition and divestiture related	0.5				0.2
Cost optimization plan, including severance costs	1.0				1.6
Non-GAAP Operating expenses	51.2				63.0
GAAP Operating Income (loss) - as reported	(2.0		)		(18.2		)
Amortization, stock-based compensation & other	13.4				10.7
Legal, acquisition and divestiture related	0.5				0.2
Cost optimization plan, including severance costs	1.0				2.3
Non-GAAP Operating Income (loss)	13.1				(5.0		)
Depreciation	6.7				7.3
Adjusted EBITDA	19.8				2.2
GAAP Other Income and expense, net - as reported	38.9				(2.6		)
Legal, acquisition and divestiture related	(39.4		)		0.1
Impairment of cost-method investments	—				1.1
Non-GAAP Other Income and expense, net	(0.5		)		(1.3		)
GAAP Net Income (loss) - as reported	45.2				(18.9		)
Amortization, stock-based compensation & other	13.4				10.7
Legal, acquisition and divestiture related	(38.9		)		0.4
Cost optimization plan, including severance costs	1.0				2.3
Impairment of cost-method investments	—				1.1
Non-GAAP Net Income (loss)	$	20.9			$	(4.5	)

3D Systems Corporation

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