Summary by Moomoo AI
3D Systems reported Q2 2024 revenue of $113.3 million, down 11.7% year-over-year but up 10.1% sequentially. The decline was primarily due to lower printer sales, partially offset by services growth. Healthcare revenue fell 19.7% to $48.9 million, while Industrial revenue decreased 4.4% to $64.4 million.Gross profit margin improved to 41.6% from 39.0% last year. Net loss was $27.3 million or $0.21 per share. Adjusted EBITDA loss widened to $12.9 million from $6.9 million in Q2 2023. The company ended the quarter with $192.7 million in cash and cash equivalents.3D Systems updated its 2024 guidance, now expecting full-year revenue of $450-460 million with continued sequential improvement in Q3 and Q4. It targets Q4 non-GAAP operating expenses below $60 million and near break-even adjusted EBITDA. Management remains optimistic about future growth despite near-term challenges.
