- 3D Systems Corporation (NYSE:DDD) reported a first-quarter revenue decline of 9% year-over-year to $133 million, driven solely by divestitures of non-core assets, beating the consensus of $132.67 million.
- Adjusted revenue increased 10% Y/Y, reflecting continued strength in the Industrial and Healthcare Solutions segment.
- GAAP and Non-GAAP gross profit margin was 40.4% and 40.6%, compared to 44% for both in 1Q21.
- Adjusted operating loss for Q1 was $(3.9) million, compared to an income of $13.1 million in 1Q21.
- Adjusted EPS was $(0.06), a decline from $0.17 in 1Q21.
- Adjusted EBITDA was $1.9 million (-90.4% Y/Y), and the margin fell to 1.4% from 13.6% a year ago.
- DDD’s cash used in operating activities for Q1 totaled $(15.12) million, compared to cash generated of $28.45 million a year ago.
- At March 31, 2022, 3D Systems had cash and short-term investments on hand of $745.6 million.
- FY22 Outlook: 3D Systems expects revenue of $580 million and $625 million (prior expectation of $570 million and $630 million); and adjusted gross margins of 40% to 43% (prior 40% to 44%).
- Price Action: DDD shares are trading lower by 6.16% at $9.60 during the post-market session on Monday.
- Photo via wikimedia Commons
