3D Systems has a weaker second quarter of 2022, noting lower revenues and generating a higher loss than a year ago

3D Systems, which acquired dp polar this week, also announced financial results for the second quarter of 2022. Revenues fell by -13.8% to USD 140.0 million and gross profit margin fell by -4.5% m .in. due to cost inflation, supply chain disruptions, higher freight costs. At the same time, operating expenses increased by + 7.7%. 3D Systems generated a loss of USD 32 million in the second quarter, and USD 55.3 million in the entire first half of 2022. In both cases, it is much more than year on year (respectively -10 million dollars for second quarter of 2021 and -12 million dollars for H1 2021).

Industrial revenues fell -14.3% to $ 68.3 million from the prior-year period, but non-GAAP revenues excluding divestments and fixed currency grew + 11.2% year-on-year. Healthcare revenues also fell -13.4% to $ 71.7 million year-on-year. Non-GAAP revenue, excluding divestments and on a constant currency basis, increased + 4.7% year-on-year.

3D Systems has lowered its financial forecasts for the full year 2022. The company now expects revenues to be in the range of $ 530 million to $ 570 million, down from the previously estimated range of $ 580-625 million. The lower forecasts take into account the negative impact on the exchange rate as well as the negative impact of reduced customer spending in selected end markets such as dentistry, doctors’ offices and manufacturers in Europe and Asia-Pacific.

The company expects non-GAAP gross profit margins to be between 39% and 41%. Given its planned investment profile, the company now expects non-GAAP operating costs to be between $ 245 million and $ 250 million.

Source: www.3dsystems.com