3D Systems publishes financial results for the first quarter of 2020 – and yes, it is still losing money…

Another quarter, another 3D Systems financial report, another loss… The situation has become so repetitive that I decided not to change the theme graphics – it was obvious that financial reprot will be weak and the only thing you can wonder is how much it fell this time…?

On March 1, 2020, we informed about the results of 3D Systems for the entire last year. As a reminder: the company achieved revenues at the level of $ 629.1 million, i.e. by $ -58.6 million than in 2018. All yearly sales revenues decreased: -24.3% of 3D printers, -0.6% 3D printing materials, -3.5% medical products and services, -13.5% 3D printing services
-2.7% software. The loss for the whole year amounted to -69.88 million USD and was higher by 24.38 million than the loss for 2018 (-45.50 million USD).

Although the COVID-19 pandemic did not develop in Western European countries until March and it did not reach the US at the very end, 3D Systems cited this event as the main source of decline. I am not going to argue with this – I will limit myself to dry data:

• revenue for Q1 2020 was $ 134.7 million, an 11.4% decline over the same period last year ($ 152 million)
• sales revenues fell by 14.66% ($ 78.8 million against $ 92.3 million); the biggest losses were incurred here due to the sale of 3D printers, where the result was worse by as much as 35%; revenues from the sale of materials decreased by a symbolic 0.1%, while the sale of software by 7.7%
• revenues from services rendered decreased by 6.27% ($ 55.9 million versus $ 59.6 million).

The company constantly cuts costs and limits the spending of cash (whose resources are melting down quarter after quarter – year after year). It is also worth recalling that the current CEO of the company – Vyomesh Joshi, at the beginning of February this year announced his retirement and retirement. For now, no name has been given for his successor…

Source: www.3dsystems.com