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3D Systems Corp. (DDD)
NYSE:DDD
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3D Systems
(NYSE:DDD)
41Neutral
Positive Factors
Cost Management
The company announced a $50 million cost reduction plan designed to improve gross margins and reduce operating expenses.
Debt Management
The company's total debt has been reduced by more than 50% over the past year, indicating a strong effort in managing liabilities.
Strategic Sale
An agreement was announced to sell the Geomagic software business to Hexagon AB for $123 million.
Negative Factors
Earnings Shortfall
Adjusted EBITDA were negative $19 million in the fourth quarter, below the consensus estimate of negative $9 million.
Guidance Revision
3D Systems lowered 2024 guidance. Revenue is now expected to decline 9% y/y vs. prior guidance of a 7% y/y decline.
Revenue Decline
Fourth-quarter revenue declined 3% year-over-year, to $111 million, driven by a decline in printer sales.
3D Systems (DDD) vs. S&P 500 (SPY)
Market Cap
$265.67M
Dividend YieldN/A
Average Volume (3M)2.74M
Price to Earnings (P/E)―
Beta (1Y)2.23
Revenue Growth-9.82%
EPS Growth30.63%
CountryUS
Employees1,833
SectorTechnology
Sector Strength65
IndustryComputer Hardware
Share Statistics
EPS (TTM)-0.19
Shares Outstanding135,544,650
10 Day Avg. Volume2,048,666
30 Day Avg. Volume2,740,128
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap2.08
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit3.36
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$5.00Price Target Upside155.10% Upside
Rating ConsensusHold
Number of Analyst Covering4
3D Systems Business Overview & Revenue Model
Company Description3D Systems (DDD) is a leading provider in the additive manufacturing industry, offering comprehensive 3D printing solutions. The company operates in sectors such as healthcare, aerospace, automotive, and industrial goods, focusing on developing and delivering 3D printers, materials, software, and custom solutions. Its core products include a wide range of 3D printers, from desktop models to large-scale industrial machines, as well as materials like plastics, metals, and ceramics.
How the Company Makes Money3D Systems makes money through the sale of 3D printers and related products, including a variety of materials specifically designed for different applications. The company generates revenue by providing software solutions that enhance the capabilities of its hardware offerings. Additionally, 3D Systems offers on-demand manufacturing services, allowing customers to outsource their 3D printing needs. Service contracts, maintenance agreements, and consulting services further contribute to the company's income. Partnerships with key industry players and the continuous development of innovative technologies are significant factors contributing to its earnings.
3D Systems Key Performance Indicators (KPIs)
Any
Revenue by Segment
Highlights revenue from different business areas, showing which segments drive growth and profitability, and indicating market demand for specific products or services.
Highlights revenue from different business areas, showing which segments drive growth and profitability, and indicating market demand for specific products or services.
Data provided by:
Main Street Data
Main Street Data3D Systems Financial Statement Overview
Summary
3D Systems faces significant financial challenges, marked by declining revenues, persistent losses, and negative cash flows. The increasing leverage and declining equity further underscore financial instability. The company needs to address operational inefficiencies and explore strategic options to stabilize and improve its financial health.Income Statement
3D Systems has experienced a declining trend in revenue over recent years, with a significant drop in revenue from 2022 to 2024. The company's gross profit margin has also decreased, reflecting weakened profitability. Net income has been negative, indicating consistent losses, with a worsening net profit margin year-on-year. The EBIT and EBITDA margins are also negative, showing operational challenges and inefficiencies in managing costs.―
Balance Sheet
The balance sheet shows a decrease in total assets and stockholders' equity over the years, which is concerning. The debt-to-equity ratio has worsened, indicating higher leverage risk. However, the company maintains a positive equity ratio, suggesting some financial stability. Nonetheless, the declining trend in equity and increasing liabilities pose risks to financial health.40
Cash Flow
Operating cash flows have been negative, indicating challenges in generating cash from core operations. Free cash flow has also been in deficit, limiting the company's ability to invest and grow. The company has struggled to convert net income to cash, as seen in the negative cash flow to net income ratios. However, the company's cash reserves have allowed for some buffer against these cash flow challenges.―
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 440.12M | 488.07M | 538.03M | 615.64M | 557.24M | Gross Profit |
| 164.18M | 196.42M | 214.23M | 263.78M | 223.38M | EBIT |
| -277.40M | -406.00M | -117.02M | -33.07M | -70.66M | EBITDA |
| -277.40M | -313.69M | -75.06M | 356.59M | -94.81M | Net Income Common Stockholders |
| -255.59M | -362.69M | -122.95M | 322.05M | -149.59M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 171.32M | 331.52M | 568.74M | 789.66M | 75.01M | Total Assets |
| 608.85M | 990.66M | 1.45B | 1.55B | 733.05M | Total Debt |
| 62.04M | 399.30M | 501.24M | 502.62M | 79.27M | Net Debt |
| -109.28M | 67.78M | 113.10M | -287.03M | 4.26M | Total Liabilities |
| 430.69M | 561.90M | 695.82M | 706.72M | 302.33M | Stockholders Equity |
| 176.19M | 426.75M | 749.94M | 842.38M | 430.72M |
| Cash Flow | Free Cash Flow | |||
| -61.01M | -107.88M | -90.89M | 29.36M | -33.76M | Operating Cash Flow |
| -44.89M | -80.69M | -68.39M | 48.15M | -20.12M | Investing Cash Flow |
| -19.02M | 124.78M | -309.89M | 260.56M | -24.23M | Financing Cash Flow |
| -91.27M | -106.47M | -13.81M | 405.80M | -6.98M |
3D Systems Technical Analysis
Negative
1.96
Price Trends
2.35
Negative
3.05
Negative
2.96
Negative
Market Momentum
-0.11
Negative
42.86
Neutral
67.90
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DDD, the sentiment is Negative. The current price of 1.96 is above the 20-day moving average (MA) of 1.94, below the 50-day MA of 2.35, and below the 200-day MA of 2.96, indicating a neutral trend. The MACD of -0.11 indicates Negative momentum. The RSI at 42.86 is Neutral, neither overbought nor oversold. The STOCH value of 67.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DDD.
3D Systems Risk Analysis
3D Systems disclosed 20 risk factors in its most recent earnings report. 3D Systems reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
3D Systems Peers Comparison
Overall Rating
UnderperformOutperform
Sector (60)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | $312.47M | 31.01 | 3.82% | ― | 5.15% | 40.64% | |
60 Neutral | $10.77B | 10.41 | -6.71% | 2.99% | 7.69% | -13.12% | |
50 Neutral | $166.42M | ― | -81.43% | ― | -4.02% | 65.55% | |
45 Neutral | $211.48M | ― | -81.29% | ― | 27.35% | 62.08% | |
41 Neutral | $265.67M | ― | -84.78% | ― | -9.82% | 30.63% |
* Technology Sector Average
Performance Comparison
DDD
3D Systems
1.96
-1.70
-46.45%
MTLS
Materialise
5.24
>-0.01
-0.19%
CAN
Canaan
0.60
-0.28
-31.82%
SKIL
Skillsoft
18.56
11.42
159.94%
3D Systems Earnings Call Summary
Earnings Call Date:Mar 26, 2025
(Q4-2024)
| % Change Since: -27.94%|
Next Earnings Date:May 12, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture with several strategic growth opportunities and cost-saving initiatives underway. However, financial challenges remain significant, with notable declines in revenue and adjusted EBITDA. The company's strong balance sheet and focus on innovation and efficiency provide a positive outlook, though the current financial performance reflects ongoing headwinds.Q4-2024 Updates
Positive Updates
Dental Market Growth Potential
The dental market is projected to be a significant growth area, with a U.S. addressable market size estimated at over $1 billion by 2029. The company is targeting four key pillars: straighten, protect, repair, and replace, with recent innovations in monolithic multimaterial jetted dentures and FDA clearance positioning it well for future growth.
Cost Reduction Initiatives
The company announced cost reduction and restructuring actions targeting over $50 million in annualized savings by the middle of 2026, with actions including site closures, headcount reduction, and improvements in manufacturing and supply chain management.
Strong Balance Sheet
The company ended the year with $171 million in cash and cash equivalents, and expects to enhance its financial position further with the expected closing of the Geomagic divestiture, bringing approximately $100 million in cash.
Innovative Product Launches
In 2024, the company introduced numerous new printers, materials, and software enhancements, including the NextDent 300 printer for dental applications and the Figure 4135 solution for high-mix, low-volume polymer parts.
Negative Updates
Decrease in Healthcare Solutions Revenue
Healthcare Solutions revenue was down 21% in Q4 2024 compared to the prior year, impacted by a $9 million accounting estimate change and softness in printer sales and dental customer inventory management.
Overall Revenue Decline
Consolidated revenues for the full year 2024 were $440 million, down 10% from the prior year, primarily due to broader macroeconomic pressures affecting printer sales.
Negative Adjusted EBITDA
For the full year 2024, the company reported an adjusted EBITDA of negative $66.4 million, a decline of $40 million from the prior year, driven by lower revenues, gross margin pressures, and higher operating expenses.
Company Guidance
During the 3D Systems Fourth Quarter and Fiscal Year 2024 Earnings Conference Call, the company highlighted a significant $9 million reduction in revenue and gross margin for Q4 due to a change in accounting estimate related to their regenerative medicine program. This adjustment was driven by updated milestone criteria for testing methodologies in their 3D printed human lung project, which affects revenue recognition. Despite this, the company achieved full-year revenue within their forecasted range, demonstrating stability in core business operations. For 2025, they anticipate revenue between $420 million to $435 million, with gross margins expected to be 37% to 39%, and operating expenses projected at $200 million to $220 million. They also announced cost reduction and restructuring initiatives targeting over $50 million in annualized savings by mid-2026, with an emphasis on improving EBITDA, aiming for breakeven or better by Q4 2025.3D Systems Corporate Events
M&A TransactionsBusiness Operations and Strategy
3D Systems Finalizes Sale of Geomagic Software
Neutral
Apr 7, 2025
On April 1, 2025, 3D Systems Corporation completed the sale of its Geomagic software business to Hexagon Manufacturing Intelligence, Inc. and Hexagon Metrology Korea LLC for $123 million, with adjustments reducing the cash proceeds to $119.4 million. This transaction, initially announced in December 2024, is part of 3D Systems’ strategic move to streamline its operations and focus on its core 3D printing business. The sale includes a transition services agreement, indicating a continued relationship between the parties, and is expected to impact the company’s financials, as reflected in the unaudited pro forma financial statements.
Spark’s Take on DDD Stock
According to Spark, TipRanks’ AI Analyst, DDD is a Underperform.
3D Systems’ stock is rated low due to severe financial challenges, negative technical indicators, and valuation difficulties. The strategic initiatives discussed in the earnings call provide some hope for improvement, but the current financial and market conditions dominate the outlook.
To see Spark’s full report on DDD stock, click here.
Business Operations and StrategyFinancial Disclosures
3D Systems Announces New Cost Savings Initiative
Positive
Mar 26, 2025
On March 26, 2025, 3D Systems announced the next phase of its cost savings and restructuring initiative, aiming to achieve $50 million in annualized savings by mid-2026. The company reported a revenue of $440 million for 2024, with a focus on new product launches and operational efficiency to drive future growth. Despite a challenging year, 3D Systems plans to enhance its market position through strategic cost reductions and innovation, anticipating improved EBITDA performance by the end of 2025.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.