3D Systems Reports Third Quarter 2022 Financial Results

3D Systems Corporation
Unaudited Condensed Consolidated Statements of Operations
Three and Nine  Months Ended  September 30,  2022  and  2021
(Unaudited)
 
  Three Months Ended September 30,  Nine Months Ended September 30,
(in thousands, except per share amounts) 2022  2021  2022  2021
Revenue:       
Products$96,337  $108,884  $300,662  $311,170 
Services 35,916   47,212   104,637   153,599 
Total revenue 132,253   156,096   405,299   464,769 
Cost of sales:             
Products   58,042       64,252       181,845       180,251  
Services   21,541       27,529       63,851       86,958  
Total cost of sales   79,583       91,781       245,696       267,209  
Gross profit   52,670       64,315       159,603       197,560  
Operating expenses:              
Selling, general and administrative   65,579       65,737       185,398       176,800  
Research and development   20,796       15,786       63,180       49,987  
Total operating expenses   86,375       81,523       248,578       226,787  
Loss from operations   (33,705 )     (17,208 )     (88,975 )     (29,227 )
Interest and other income (expense), net   (3,502 )     315,859       (5,456 )     354,396  
(Loss) income before income taxes   (37,207 )     298,651       (94,431 )     325,169  
(Provision) benefit for income taxes   (338 )     (5,995 )     (2,911 )     3,083  
Net (loss) income before redeemable non-controlling interest   (37,545 )     292,656       (97,342 )     328,252  
Less: net (loss) attributable to redeemable noncontrolling interests   (147 )           (184 )      
Net (loss) income attributable to 3D Systems Corporation $ (37,398 )   $ 292,656     $ (97,158 )   $ 328,252  
               
Net (loss) income per common share:              
Basic $ (0.30 )   $ 2.39     $ (0.77 )   $ 2.69  
Diluted $ (0.30 )   $ 2.34     $ (0.77 )   $ 2.63  
               
Weighted average shares outstanding:              
Basic   127,991       122,663       127,478       122,178  
Diluted   127,991       125,289       127,478       124,839  



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