ROCK HILL, SC, Mar 1, 2022 – 3D Systems Corp. announced its financial results for the fourth quarter and full year ended December 31, 2021. For the fourth quarter of 2021, the company reported revenue of $150.9M, down 3.3% compared to $156.1M in the third quarter of 2021. Net loss was $6.2M.
Comparative analysis based on 3D Systems’ financial results in the last 12 quarters (Result source 3D Systems website)
Comparative analysis based on 3D Systems’ financial results in the last 12 quarters (Result source 3D Systems website)
Commenting on the results, President and CEO, Dr. Jeffrey Graves said, “2021 was a remarkable year for 3D Systems. In the face of a difficult operating environment, we executed well against our four-phased strategy that we introduced in the summer of 2020. As a result, we exited 2021 as one of the largest and the most profitable pure-play additive manufacturing companies in the world, entering 2022 with great momentum, an extremely strong balance sheet, and focused on investing for the exciting growth we see ahead. Our segment-led application focus leverages the unique scale of our business and breadth of our technologies, which span polymer and metal printing systems, as well as the most advanced materials and software technology platforms in the industry. The success attained through our intense focus on bell-weather customer applications in key market verticals is clearly reflected in the strong, double-digit revenue growth of our core additive manufacturing business. At the same time, the impact of our lean organization structure and effective cost management has driven earnings per share higher than, not only 2020, but also our pre-pandemic 2019. This combination of revenue growth and profitability has singled us out as leaders in our industry, creating significant value for our customers, our employees and our shareholders alike. This performance, when combined with our exceptional balance sheet and operating cash flow, positions us very well to invest for the exciting future now expanding before us.”
Dr. Graves continued, “By organizing our company into two market-focused business units, Healthcare and Industrial Solutions, we have been able to clearly identify the unique technologies, expertise and infrastructure required to be a comprehensive provider of additive manufacturing solutions for key verticals within each of these segments. In 2021, we invested significantly in both R&D and infrastructure for growth and continued operational efficiency improvements. An important focus was talent acquisition, both through direct hiring in key leadership roles, and through the acquisition of two software firms, Additive Works, specializing in print process simulation, and Oqton, developers of a unique ‘manufacturing operating system’ that we believe will accelerate the adoption of additive manufacturing in production environments for the entire 3D printing industry. Beyond these core technology investments, in 2021 we also invested to expand our biologics technology and printing expertise, which we believe will be instrumental in enabling next-generation applications ranging from the acceleration of new drug therapies to the manufacturing of human organs. This investment theme continued in early 2022 with the announcement of our agreements to acquire two companies having unique polymeric extrusion technology for 3D printing, Titan and Kumovis, and further expand our application capabilities.”
Dr. Graves summarized, “As we enter 2022, there are clear challenges that all companies are facing – inflation, supply chain constraints, COVID-19 variants, and geopolitical instability – all of which may have an impact on the global economy and our results. However, at 3D Systems we enter the new year with a great deal of optimism, confident that continued execution of our strategy to deliver essential solutions to our Healthcare and Industrial customers, while prudently increasing investment in our core technologies and infrastructure to meet our growing demand outlook, will accelerate adoption of additive manufacturing. We believe the result will be exciting, profitable growth, and the creation of meaningful shareholder value in the years ahead.”
A complete chart of the financial results is available here.
About 3D Systems
3D Systems provides comprehensive 3D products and services, including 3D printers, print materials, on-demand manufacturing services and digital design tools. Its ecosystem supports advanced applications from the product design shop to the factory floor to the operating room. 3D Systems’ precision healthcare capabilities include simulation, virtual surgical planning, and printing of medical and dental devices as well as patient-specific surgical instruments. As the originator of 3D printing and a shaper of future 3D solutions, 3D Systems has spent its 30 year history enabling professionals and companies to optimize their designs, transform their workflows, bring innovative products to market and drive new business models.
More information on the company is available at www.3dsystems.com.