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| 3D Systems Press Release |
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Commenting on preliminary third quarter 2024 revenue results, Dr. Jeffrey Graves, president and CEO of
3D Systems said, “As we review our third quarter performance, it’s clear that we are continuing to navigate through a challenging operating environment particularly related to new hardware systems sales. However, operations of our
installed base, which is the largest in the world, remains very robust, driving strong materials utilization. Revenue from consumable materials grew 10% compared to the third quarter of 2023, and 9% sequentially from second quarter levels. Top-line performance in our industrial markets reflects the timing shift of a few significant orders that subsequently closed early in the fourth quarter. In this regard, despite not recognizing the benefit from
these transactions in our third quarter results, we are encouraged by our strengthening opportunity pipeline and growing momentum in key markets, such as our Personalized Healthcare business, which delivered nearly 20% growth from the third quarter
for the prior year.”
Dr. Graves continued, “Having sustained our investment in R&D during this challenging period, we are making
considerable progress across our technology roadmap, which is the broadest in the industry, with a strong focus on innovation and attainment of critical scale in markets we view as key to future profitable growth. By maintaining our core R&D and
application development momentum, we have set the stage to capitalize on the pent-up demand we expect to see in the near future. Over the last few weeks, we’ve validated our industry prowess for key
healthcare applications, securing FDA clearances for multi-material, monolithic jetted dentures, which are expected to drive exciting growth in our dental business, and the new TOTAL ANKLE Patient-Matched Guides to further expand our offerings in
orthopedic surgical planning and execution. Next week, our industry leading portfolio will be on full display at Formnext, the largest global additive manufacturing conference of the year, showcasing a full suite of new printers and materials that
continue to drive new applications in high criticality markets like medical devices, investment casting, energy, automotive, aerospace and defense.”
Dr. Graves concluded, “We are executing against our previously announced restructuring plans to support a rigid framework to drive operational
efficiency and cost reduction, while preserving critical R&D to lead the future of the additive manufacturing industry. Many of these actions are positively impacting our business, in line with our operating expense expectations for the quarter,
and serve as the foundation for improvement going forward. We are diligently focused on continuing to reduce operating expenses and manage working capital to drive sustainable profitability, cash generation and enhanced shareholder value in the
quarters ahead.”