3D Systems Reports Second Quarter 2020 Financial Results

Unaudited Condensed Consolidated Statements of Operations
Quarter and Six Months Ended June 30, 2020 and 2019

  Quarter Ended June 30,  Six Months Ended June 30,
(in thousands, except per share amounts) 2020  2019  2020  2019
Revenue:       
Products$61,496   $93,758   $140,305   $186,105  
Services50,564   63,514   106,460   123,147  
Total revenue112,060   157,272   246,765   309,252  
Cost of sales:       
Products52,489   53,005   101,385   108,765  
Services24,404   30,968   53,081   61,483  
Total cost of sales76,893   83,973   154,466     170,248   
Gross profit 35,167      73,299      92,299      139,004   
Operating expenses:              
Selling, general and administrative 52,042      71,654      108,148      136,761   
Research and development 16,997      20,811      36,241      42,714   
Total operating expenses 69,039      92,465      144,389      179,475   
Loss from operations (33,872 )   (19,166 )   (52,090 )   (40,471 )
Interest and other (expense) income, net (2,615 )   (2,755 )   (5,179 )   (3,957 )
Loss before income taxes (36,487 )   (21,921 )   (57,269 )   (44,428 )
(Provision) benefit for income taxes (1,464 )   (1,938 )   394      (3,782 )
Net loss (37,951 )   (23,859 )   (56,875 )   (48,210 )
Less: net income attributable to noncontrolling interests —      70      —      114   
Net loss attributable to 3D Systems Corporation $ (37,951 )   $ (23,929 )   $ (56,875 )   $ (48,324 )
               
Net loss per share available to 3D Systems Corporation common stockholders - basic and diluted $ (0.33 )   $ (0.21 )   $ (0.49 )   $ (0.43 )
                               

3D Systems Corporation

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