3D Systems Corporation · NYSE:DDD
3D Systems — Canaccord (August 2012)
33 slides from 3D Systems's conference presentation, Aug 3, 2012
Slide 1: Investor Presentation
Investor Presentation August 2012 2012年8月3日
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements, as defined by federal and state securities laws. Forward-looking statements include statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, perfor
Slide 3: End-To-End 3D Content-To-Print Leader
End-To-End 3D Content-To-Print Leader Global 7 Print Engines Footprint ~100 World Class Performance Customers Materials : 2' ./24%!" #1&.>, 12.34! : 0#, ;!&#' !^3>% ! !` 3\ 3! Expanding ! ~300 Resellers ! ) Technology ) ) ) Platform ) ) ) ) ) Q% , 4( &% ( . )' D)? 4&% . ( &) M0, !;2' #1\ !, ;20, 2./
Slide 4: Investment Highlights
Investment Highlights Unmatched product performance Exclusive and breadth Attractive ‘razor provider of end- & blades’ model to-end content- driving recurring to-print revenue growth solutions Seasoned Addressing management multi-$B high- team that out- growth executed marketplaces competition 4 4
Slide 5: Large and Growing Addressable Marketplaces
Large and Growing Addressable Marketplaces $ in billions 3D Printer Forecast Product Lifecycle Management (PLM) Forecast $7.0 $60 $6.0 $50 $5.0 $40 $4.0 $30 $3.0 $20 $2.0 $10 $1.0 $0.0 $0 2013 2015 2017 2019 2012 2013 2014 2015 2016 Source: Wohler’s Report Source: CIMdata • Our solutions replace, di
Slide 6: Favorable Growth Dynamics
Favorable Growth Dynamics Increasing Global R&D spend fueling demand for 3D printers • Global R&D spending increased $47 billion in 2010 * • 75%+ of the increased R&D spending was in computing, electronics, health & automotive sectors— aligns directly with our vertical focus * Compressed design-to-m
Slide 7: Focused Growth Initiatives
Focused Growth Initiatives Expand on- Accelerate 3D Democratize creativity by demand-parts printer providing integrated 3D services globally penetration content-to-print solutions that cover the entire ideation-to-production process for the benefit of professionals and Build significant Grow healthc
Slide 8: Integrated 3D Content-to-Print Solutions
Integrated 3D Content-to-Print Solutions 3D Printers Print Materials Design Productivity On-Demand Parts End-To-End Ideation-To-Production 8 8
Slide 9: Unmatched 3D Printer Portfolio
Unmatched 3D Printer Portfolio PERSONAL PROFESSIONAL PRODUCTION ZPrinter Portfolio ZPrinter Portfolio Premium Color, Multicolor, Easy to Premium Color, Monochrome, Most Monochrome , Monochrome, Easyest Multicolor,High to Most Affordable Most Most Affordable Office Highest OverviewMon ochrome,Afforda
Slide 10: Powerful Performance Materials
Powerful Performance Materials High-Definition, Snap-Fit High- Impact, Light-Weight Durable, High-Temperature ~100 Materials Wax Nylon Plastic Rubber Metal Composite Biocompatible Conformal Structures Casting 10 10
Slide 11: On-Demand Parts and Services
On-Demand Parts and Services Unmatched quick-turn manufacturing services Proprietary ecommerce operating platform High-Volume Latest additive and traditional capabilities in nine locations worldwide Mid-volume Instant online quoting with integrated sales and manufacturing process Low-Volume
Slide 12: Growing Global Installed Base
and support to address global market needs. The Company has a dominant presence in the automotive industry with major clients such as Audi, Ford, Hyundai, Toyota and Volkswagen. In addition, other marquee Growing Global Installed Base customers include Alcoa, Benteler, Hitachi, Oakley, Panasonic, Ro
Slide 13: Broad Range of Opportunities
Broad Range of Opportunities Transportation Healthcare Arch & MCAD Education Consumer Recreation 13 13
Slide 14: Automotive Design-To-Manufacturing
Automotive Design-To-Manufacturing Motorsport Wind-Tunnel to On-Car Automotive Bridge Manufacturing High-Value Short Runs 14 14
Slide 15: Aerospace Direct Manufacturing
Aerospace Direct Manufacturing Benefits to the War Fighter • F-35 costs savings estimated from: • Reduced multi-axis machining • Reduced machining/drilling • Reduced lead-times • Reduced part counts Representative Parts • Enhanced design for manufacturing and assembly • Increased number of parts qua
Slide 16: Oral, Hearing, Orthopedic & Surgery
Oral, Hearing, Orthopedic & Surgery Fastest growing vertical Life enhancing treatments Individualized solutions 16 16
Slide 17: Cubify: Democratizing Creativity
Cubify: Democratizing Creativity Download & Customize Upload & Market Individualize Make It Real Personalize Mobile Creation 17 17
Slide 18: Clear Competitive Advantage
Clear Competitive Advantage We offer a comprehensive tool box… we sell our customers the right tool for the right job Our competitors sell different size hammers… to them every application looks like a nail 18 18
Slide 19: Second Quarter 2012 Highlights
Second Quarter 2012 Highlights Revenue increased 52% over Q2 2011 on 112% printer unit growth and 20% organic growth across all categories Backlog grew by 28% sequentially to $12.3 million at the end of the quarter on continued strong demand Gross profit up 71% on higher revenue and 570 basis points
Slide 20: Record Second Quarter Revenue
Record Second Quarter Revenue $ in millions Second Quarter Printers & 2011 $ 16.2 Other Products 2012 $ 26.1 61% Print 2011 $ 16.4 Materials 2012 $ 26.2 60% 2011 $ 22.5 Services 2012 $ 31.3 39% 2011 $ 6.5 Healthcare 87% 2012 $ 12.2 52% total revenue growth 20% organic revenue growth 20 20
Slide 21: First Six Months Revenue
First Six Months Revenue $ in millions Six Months Printers & 2011 $ 29.7 Other Products 2012 $ 50.8 71% Print 2011 $ 32.0 Materials 2012 $ 50.9 59% 2011 $ 41.3 Services 2012 $ 59.9 45% 2011 $ 12.7 Healthcare 90% 2012 $ 24.2 57% total revenue growth 23% organic revenue growth 21 21
Slide 22: New Products Fuel Organic Growth & Earnings
New Products Fuel Organic Growth & Earnings Six Months ‘12 Gross Profit by Commercialized 9 new products during Six Months 2012 Category $ in millions New Products Revenue $60.0 Printers $50.0 & Other Services Products $40.0 33% 25% $30.0 $ 52.5 $20.0 Print $ 32.9 Materials $10.0 $19.4 42% $0.0 2010
Slide 23: Revenue by Category & Geography
Revenue by Category & Geography $ in millions Second Quarter Six Months $ 161.5 $ 83.6 160 80 140 38% 37% $ 55.1 120 $ 103.0 Services 60 Services 100 40 41% 80 40% 32% 31% Materials 60 Materials 30% 31% 20 40 31% 20 31% 29% Printers 29% Printers 0 0 2011 2012 2011 2012 $ 161.5 $ 83.6 160 Asia-Pacifi
Slide 24: Working Capital
Working Capital % Change December 2011 June 2012 ($ in millions) Favorable/(Unfavorable) Cash $ 179.1 $ 158.5 (11.5%) Inventory $ 25.3 $ 40.0 (58.2%) Accounts Receivable $ 51.2 $ 63.9 24.8% Accounts Payable $ 25.9 $ 34.2 (32.1%) Working Capital $ 202.4 $ 199.5 (1.4%) • Cash on hand at June 30, 2012
Slide 25: Affirming 2012 Guidance
Affirming 2012 Guidance We expect revenue for full year 2012 to be in the range of $330 million to $360 million We expect non-GAAP earnings per share for 2012 to be in the range of $1.00 to $1.25 25 25
Slide 26: Bottom Line
Bottom Line Exclusive provider of end-to-end content-to-print solutions Unmatched performance and product breadth Addressing high growth, multi-billion dollar marketplaces Attractive ‘razor & blades’ model driving recurring revenue growth Focused growth initiatives for organic and acquired growth Se
Slide 27: Thank You
Thank You www.3dsystems.com NYSE: DDD 2012年8月3日
Slide 28: Supplemental Financial Information
Supplemental Financial Information www.3dsystems.com NYSE: DDD 2012年8月3日
Slide 29: Second Quarter Operating Results
Second Quarter Operating Results $ in millions, except earnings per share Second Quarter – Non-GAAP % Change Drivers 2011 2012 Favorable/(Unfavorable) Revenue $ 55.1 $ 83.6 51.7% Gross Profit $ 25.3 $ 43.0 70.5% % of Revenue 45.9% 51.5% Operating Expenses $ 14.7 $ 24.3 (65.0%) % of Revenue 26.7% 29.
Slide 30: Six Months Quarter Operating Results
Six Months Quarter Operating Results $ in millions, except earnings per share Six Months – Non-GAAP % Change Drivers 2011 2012 Favorable/(Unfavorable) Revenue $ 103.0 $ 161.5 56.8% Gross Profit $ 48.5 $ 81.9 68.7% % of Revenue 47.1% 50.7% Operating Expenses $ 29.2 $ 47.1 (61.1%) % of Revenue 28.4% 2
Slide 31: Non-GAAP Reconciliation
Non-GAAP Reconciliation Quarter Ended June 30, Six Months Ended June 30, (in millions, except per share amounts) 2011 2012 2011 2012 GAAP Net Income $ 13.4 $ 8.3 $ 20.2 $ 14.5 Adjustments (tax effected): Stock-based compensation $ 0.8 $ 1.2 $ 1.2 $ 2.3 Amortization of intangibles (a) $ 1.1 $ 2.8 $ 2
Slide 32: Gross Profit and Margin
Gross Profit and Margin $ in millions Second Quarter 2011 2012 Yr-Yr% Gross Profit Gross Profit Category $ Millions Margin $ Millions Margin $ Margin Printers $ 6.0 36.9% $ 11.2 43.1% 87.9% 16.8% Print materials $ 10.7 64.9% $ 17.2 65.6% 61.3% 1.1% Services $ 8.6 38.0% $ 14.5 46.4% 69.8% 22.1% Total
Slide 33: Operating Expenses
Operating Expenses $ in millions Second Quarter % Change 2011 2012 Category Favorable/(Unfavorable) Selling, general & administrative $ 14.2 $ 24.0 (69.8%) Research and development $ 3.0 $ 4.9 (61.7%) Total Operating Expenses $ 17.2 $ 29.0 (68.4%) % of Revenue 31.2% 34.6% - Six Months % Change 2011