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3D Systems reports 20 percent sequential quarterly revenue growth during Q3 2020

3D打印机制造商3D Systemshas reported sequential quarterly growth of 20.6 percent in its Q3 2020 financial results.

在2020年第三季度,该公司的收入为1.351亿美元,比2019年第三季度报告的1.553亿美元低13%,但季度回收率显着,而与2020年代第二季度的28%下降相比。

The company also made progress with the “strategic refocus”它在第二季度宣布,该Q2已关注其医疗保健和工业垂直行业,并节省了6000万美元。由于结果发布了,3D Systems的股票已从5.91美元增加到6.54美元,表明投资者对公司的削减成本计划感到满意。

3D Systems首席执行官Jeffrey Graves博士说:“尽管大流行的挑战仍然存在,但我们很高兴为医疗保健和工业业务提供强劲的顺序增长。”“我们对本季度的进步感到满意,并相信我们将退出这一年,这是一家更高效,专注于高度关注的增材制造公司。”

3D Systems reported a 20 percent growth in revenue between Q2 and Q3 2020, with its dental business the stand-out performer. Photo via 3D Systems.
3D Systems reported a 20 percent growth in revenue between Q2 and Q3 2020, with its dental business the stand-out performer. Photo via 3D Systems.

3 d系统的2020年第三季度收益的结果

3D Systems broadly reports its revenue across two divisions: Products and Services. Products accounts for revenue generated by 3D printers, software, and material sales, while Services includes any revenue earned from the company’s healthcare solutions and on-demand manufacturing capabilities.

In Q3 2020, the company’s Product business generated $77.2 million in revenue, which constitutes an 18 percent decline on the $94.5 million reported in Q3 2019. If compared on a sequential quarterly basis though, this figure is $15.8 million more than 3D Systems reported in Q2 2020, and the 18 percent fall is still an improvement on the 34 percent drop seen during Q2.

3D Systems reported a “rebound in customer activity” in Q3 2020 as companies began to reopen from the global shutdown. As a result, the company’ Healthcare revenue increased from $56.2 million in Q3 2019 to $59.8 million in Q3 2020, with its dental products in particular, experiencing a surge in demand.

Revenues ($) Q3 2019 Q3 2020 Variance (%) 9M 2020 9M 2020 Variance (%)
产品 94.5m 77.2m -18 280.6m 217.5m -22.4
Services 60.7m 57.8m -4.7 18390万 164.3m -10
总收入 155.3m 135.1m -13 464.5m 381.8m -17.8

The company’s Services segment reported a narrower 4.7 percent revenue decline in Q3 2020, falling to $57.8 million from the $60.7 million generated in Q3 2019. Again, this figure represents a $7.3 million recovery on a quarterly basis, and an increase on the 20 percent revenue decline reported during Q2 2020.

Although 3D Systems has reduced its R&D spending since December 31st 2020 from $20.9 million to $18.8 million, the firm’s net operating expenses over the period increased from $79.2 million to $126.2 million. This rise can largely be attributed to $48.3 million worth of goodwill that the company wrote-off over Q3 2020, due to an impairment test triggered by the impact of the pandemic.

商誉障碍在公司的资产负债表上报道了,但并不影响其现金状况,不包括注销3D系统实际上将其运营成本从2019年第三季度降低到2020年第三季度。

3D Systems has sold two of its software subsidiaries as part of a restructuring plan, through which it aims to reduce costs by $100 million by the end of 2021. Photo via 3D Systems.
3D Systems has sold two of its software subsidiaries as part of a restructuring plan, through which it aims to reduce costs by $100 million by the end of 2021. Photo via 3D Systems.

第三季度的“战略重新关注”行动

经过2020年动荡的第二季度,其中3D系统报告收入下降了28%,其新首席执行官杰弗里·格雷夫斯(Jeffrey Graves)选择重组业务,以专注于其核心医疗保健和工业垂直行业。该公司设定了将成本降低到2022年的最初目标,到今年年底已经达到6000万美元的目标。

3D系统在2020年期将其劳动力降低了20%,并加速了其让同事远程工作的计划,通过关闭其设施最大的设施下降的计划。成本重组活动以及大流行导致的招聘和降低旅行费用也促进了公司的现金节省。

Additionally, the firm’s Q3 financials don’t account for thesale of its Cimatron business致全球以技术为重点的投资公司Battery Ventures,这将在接下来的几周内结束。3D系统将从出售中获得6500万美元的收入,这将用于其计划的重组活动,并希望看到“进一步的非核心资产剥离”前进。

第四季度2020年第4季度的进一步削减措施?

In Q4 2020, 3D Systems indicated that it expects the economic climate to remain difficult, but that it had positioned itself well over the third quarter to prosper. Having获得510K FDA批准用于新的手术指南,并看到ACS Custom使用它printers to create hearing devices在第三季度,该公司的医疗保健部门继续增长。

What’s more, the company launched an equity offering program during Q3 2020, in which it made $150 million worth of shares available for purchase. Given that 3D Systems has recouped $65 million from the sale of its software businesses, it does not anticipate having to continue offering shares in Q4, reflecting the progress it has made throughout Q3.

In his closing remarks, Graves concluded that 3D System’s Q3 progress showed that its restructuring had put the firm back on the path to profitability. “From a balance sheet perspective, we have made substantial progress in our divestiture of non-core assets, and, earlier this week, were pleased to announce an agreement on the sale of our Cimatron and GibbsCAM software businesses,” said Graves.

他补充说:“我们期望在未来几周内完成这项交易,将加强我们的资产负债表,并帮助确保我们执行计划的重组活动的能力,同时维持核心业务增长的关键投资。”“我们继续在未来几个月内进行进一步的非核心资产剥离。”

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Featured image shows a 3D Systems client using one of its machines to fabricate dental products. Photo via 3D Systems.