3D Systems Reports Fourth Quarter and Full Year 2024 Financial Results

About this update from 3d Systems Corporation

[{"type":"image","alt":"3D Systems Inc.","displaySize":"","headline":null,"caption":"3D Systems Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":47,"url":"https://media.zenfs.com/en/globenewswire.com/f1bfb1a6105992167fd7ce4b17d83d5d"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/UGlOLG8EAmbbluvYT2312g--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTY2O2NmPXdlYnA-/https://media.zenfs.com/en/globenewswire.com/f1bfb1a6105992167fd7ce4b17d83d5d","width":300,"height":47}},"lazy":false},{"type":"text","content":"ROCK HILL, S.C., March 26, 2025 (GLOBE NEWSWIRE) -- 3D Systems Corporation (NYSE:DDD) announced today its financial results for the fourth quarter and full year ended December 31, 2024.","length":190,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Full-year 2024 revenue of $440 million, above lower end of guidance range, inclusive of a $9 million revenue reduction in Q4 driven by a change in accounting estimates for Regenerative Medicine program milestone recognition. This change in estimate is related to the now anticipated use of pre-clinical human decedent testing, successfully demonstrated by our partner, United Therapeutics, which led to refinement of the milestone technical criteria.","length":450,"tagName":"p"}]},{"val":[{"type":"text","content":"Continued reduction in operating expenses in Q4 reflecting the company’s focus on cost savings and efficiency improvements.","length":123,"tagName":"p"}]},{"val":[{"type":"text","content":"Announcement of a new cost reduction initiative expected to deliver over $50 million in incremental annualized savings related to actions taken throughout 2025 and the first-half 2026.","length":184,"tagName":"p"}]},{"val":[{"type":"text","content":"All regulatory approvals have been obtained for sale of Geomagic software platform, with a sale price of $123 million and targeted close in early April.","length":152,"tagName":"p"}]},{"val":[{"type":"text","content":"Balance sheet cash and cash equivalents of $171 million as of December 31, 2024. Proceeds from Geomagic sale to further strengthen balance sheet in Q2.","length":151,"tagName":"p"}]},{"val":[{"type":"text","content":"Normalizing for divestiture, 2025 full-year forecast reflects return to flat to modest top line organic growth with progressive cost reductions strengthening EBITDA performance throu...

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