3D Systems announces strong Q2 2021 results, share price surges

August 11, 2021

A DMP Factory 350 Laser Beam Powder Bed Fusion (PBF-LB) machine from 3D Systems (Courtesy 3D Systems)

3D Systems, Rock Hill, South Carolina, USA, has reported its financial results for the second quarter ended June 30, 2021. Revenue reached $162.6 million, an increase of 44.1% for the second quarter of 2021 compared to the same period last year of $112.8 million. The results triggered a surge in the company’s share price, closing 21% higher on the day of the announcement.

Revenue from the company’s Healthcare business segment increased 68.6% to $82.8 million, compared to the same period last year, and increased 14.2% compared to last quarter. This increase from last quarter included double digit growth in medical applications, as well as strong demand for dental materials. Compared to the same period last year, Industrial sales increased 25.3% to $79.7 million, and increased 49.6% when excluding businesses divested in 2020 and 2021. Compared to the last quarter, Industrial sales increased 8.3% with solid demand in both products and materials.

Gross profit margin in the second quarter of 2021 was 42.4% compared to 31.2% in the same period last year. Operating expenses increased 14.5% to $79.1 million in the second quarter of 2021, compared to the same period a year ago, primarily as a result of expenses related to stock compensation including bonuses.

“In our second quarter last year we were in the rapidly-tightening grip of the COVID pandemic, with virtually no visibility into the magnitude or duration of the impact on our company,” commented Dr Jeffrey Graves, president and CEO, 3D Systems.

“It was into this tumultuous environment that we launched our four-phase transformation plan: reorganise into Healthcare and Industrial business units, restructure to gain operating efficiencies, divest non-core assets and then invest for the future. Today, after perhaps the most challenging 12 months that any of us has experienced, our world has changed for the better in several ways. Not only is the global economy rebounding, but Additive Manufacturing is being implemented at an increasing rate in production as companies seek a more capable and flexible supply chain for critical components.”

“From a divestment standpoint, we have announced the sale of both our On-Demand Parts business, which focused on the rapid production of components using a multitude of digital manufacturing methods, and Simbionix, a medical simulation business,” he continued.

“We are pleased to confirm that these transactions complete our efforts to exit non-core businesses, enabling our entire focus and investment priority to be on additive manufacturing moving forward. Once completed, we believe the sale of these assets, combined with our cash generation from operations will leave us with a very strong balance sheet, with roughly $500 million in cash and no debt. We believe our consistent performance, and our balance sheet, positions us well for future investment in our core business.”

Consistent with prior guidance, on a non-GAAP basis, 3D Systems states that it expects 2021 gross profit margins to be between 40% and 44%.

Dr Graves concluded, “We are excited about the tremendous progress we have made this past year, reinforcing our foundation in Additive Manufacturing and positioning ourselves for a very exciting future.”


In the latest issue of Metal AM magazine

Download PDF

Extensive AM industry news coverage, as well as the following exclusive deep-dive articles:

  • Metal powders in Additive Manufacturing: An exploration of sustainable production, usage and recycling
  • Inside Wayland Additive: How innovation in electron beam PBF is opening new markets for AM
  • An end-to-end production case study: Leveraging data-driven machine learning and autonomous process control in AM
  • Consolidation, competition, and the cost of certification: Insight from New York’s AM Strategies 2024
  • Scandium’s impact on the Additive Manufacturing of aluminium alloys
  • AM for medical implants: An analysis of the impact of powder reuse in Powder Bed Fusion

The world of metal AM to your inbox

Don't miss any new issue of Metal AM magazine, and get the latest industry news. Sign up to our twice weekly newsletter.

Sign up

Discover our magazine archive…

The free to access Metal Additive Manufacturing magazine archive offers unparalleled insight into the world of metal Additive Manufacturing from a commercial and technological perspective through:

  • Reports on visits to leading metal AM part manufacturers and industry suppliers
  • Articles on technology and application trends
  • Information on materials developments
  • Reviews of key technical presentations from the international conference circuit
  • International industry news

All past issues are available to download as free PDFs or view in your browser.

Browse the archive

Looking for AM machines, metal powders or part manufacturing services?

Discover suppliers of these and more in our comprehensive advertisers’ index and buyer’s guide, available in the back of Metal AM magazine.

  • AM machines
  • Process monitoring & calibration
  • Heat treatment & sintering
  • HIP systems & services
  • Pre- & post-processing technology
  • Powders, powder production and analysis
  • Part manufacturers
  • Consulting, training & market data
View online
Share via
Copy link
Powered by Social Snap