Summary by Moomoo AI
3D Systems reported Q3 2024 revenue of $112.9M, down 9% YoY, primarily due to weak printer sales, though consumables sales grew 10%. Healthcare Solutions revenue increased 5% to $55.1M, driven by strong growth in Dental and Personalized Healthcare solutions. The company recorded a net loss of $178.6M, including a $143.7M impairment charge for goodwill and long-lived assets.Gross profit margin declined to 36.9% from 44.7% YoY, impacted by lower volumes and a $3M inventory reserve increase. The Application Innovation Group showed promising growth with revenues up 26% YTD across industrial markets. Operating expenses were $222.5M, including the impairment charge, while non-GAAP operating expenses improved sequentially to $61.4M.The company updated its FY2024 guidance, projecting revenue between $440M-$450M. Management expects Q4 operating expenses to decrease below $60M with sequential improvement in Adjusted EBITDA. Cash and equivalents stood at $190M as of September 30, 2024, with total debt of $211.7M net of financing costs.
