3D Systems reports preliminary Q3 revenue $112.9M, consensus $115.73M

For Q3, the company expects revenues of approximately $112.9M, a $10.9M decrease from third quarter 2023 revenue of $123.8M, driven primarily by a continuation of macroeconomic factors negatively impacting hardware systems, partially offset by strong materials growth. Additionally, third quarter revenues were negatively affected by customer delays in the closing of certain key transactions, which were not fully completed until early in fourth quarter 2024. Commenting on preliminary third quarter 2024 revenue results, Dr. Jeffrey Graves, president and CEO of 3D Systems (DDD) said, “As we review our third quarter performance, it’s clear that we are continuing to navigate through a challenging operating environment particularly related to new hardware systems sales. However, operations of our installed base, which is the largest in the world, remains very robust, driving strong materials utilization. Revenue from consumable materials grew 10% compared to the third quarter of 2023, and 9% sequentially from second quarter levels. Top-line performance in our industrial markets reflects the timing shift of a few significant orders that subsequently closed early in the fourth quarter. In this regard, despite not recognizing the benefit from these transactions in our third quarter results, we are encouraged by our strengthening opportunity pipeline and growing momentum in key markets, such as our Personalized Healthcare business, which delivered nearly 20% growth from the third quarter for the prior year.”