Slide 1: Fourth Quarter and Full Year 2021 Financial Results
February 28, 2022 Fourth Quarter and Full Year 2021 Financial Results ©2021 3D Systems, Inc. | All Rights Reserved.
Slide 2: Welcome and Participants
Welcome and Participants Dr. Jeffrey Graves President and Chief Executive Officer Jagtar Narula Executive VP and Chief Financial Officer Andrew Johnson Executive VP and Chief Legal Officer John Nypaver, Jr. To participate via phone, VP, Treasurer and Investor Relations please dial: 1-201-689-8345 2
Slide 3: Forward Looking Statements
Forward Looking Statements Certain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainti
Slide 4: Dr. Jeffrey Graves
Dr. Jeffrey Graves President & Chief Executive Officer 4 ©2021 3D Systems, Inc. | All Rights Reserved.
Slide 5: 2021 Highlights
2021 Highlights • Financial performance outperformed 2020 and pre-pandemic 2019 in adjusted EBITDA, operating profit, earnings per share, revenue adjusted for divestitures and cash from operations • Completed the divestment of non-core assets, resulting in over $400 million in proceeds and completed
Slide 6: 3D Systems – High Performing, Additive Focused
3D Systems – High Performing, Additive Focused • Full-service provider, combining hardware, materials, 32% / 17% software, and applications expertise to deliver additive $616M YoY Revenue manufacturing (AM) solutions to customers 2021 FY Revenue Growth vs 2020 and 20191 • Broad portfolio of AM hardw
Slide 7: Investing for Growth
Investing for Growth Introducing Extrusion Technology to the 3D Systems Lineup • Market leader in pellet-based polymer extrusion 3D • Used in orthopedic applications in healthcare printing technology utilizing PEEK material which has properties that • The only manufacturer offering hybrid tool head
Slide 8: Looking Ahead to 2022
Looking Ahead to 2022 • Maintain the most complete portfolio of AM solutions in the industry • Expect to refresh our entire lineup of hardware technologies over the next 18 months while continuing to release new materials and making substantive and identifiable progress in our regenerative medicine
Slide 9: Jagtar Narula
Jagtar Narula Executive VP & Chief Financial Officer 9 ©2021 3D Systems, Inc. | All Rights Reserved.
Slide 10: Q4 and Full Year Summary
Q4 and Full Year Summary Fourth Quarter Year Ended 2021 2020 2021 2020 HIGHLIGHTS REVENUE $150.9 $172.7 $615.6 $557.2 OPERATING LOSS ($3.8) $0.7 ($33.1) ($119.0) Q4 Revenue increased NET INCOME (LOSS) ($6.2) ($19.8) $322.1 ($149.6) 13.1% vs. Q4:20, 10.4% vs. INCOME (LOSS) PER SHARE - BASIC ($0.05) (
Slide 11: Revenue by Market
Revenue by Market (Adjusted for Divestitures) $ in millions Healthcare Revenue Industrial Revenue Q4 YoY Q4 YoY +5.1% $74.5 $76.4 $70.9 +22.2% $62.5 Q4 2020 Q4 2021 Q4 2020 Q4 2021 FY YoY FY YoY $274.4 $269.5 +40.1% +24.4% $195.9 $216.7 2020 2021 2020 2021 Broad based growth including dental, Fourth
Slide 12: Gross Profit Margin
Gross Profit Margin • Full-year non-GAAP gross margin was 43.0% • Gross margin increased due better absorption of supply chain overhead due to higher revenue and less inventory obsolescence 50% 50% GAAP GPM Non-GAAP GPM 45% 44% 44% 45% 44% 44% 43% 42% 42% 42% 42% 41% 40% 40% 35% 35% 30% 30% Q4:20 Q1
Slide 13: Operating Expenses
Operating Expenses Fourth Quarter Non-GAAP operating expenses decreased 6.4% compared to the prior year due to lower SG&A expenses as a result of restructuring efforts and divestitures GAAP Non-GAAP $100 $80 $79.1 $81.5 $80 $71.7 $70.1 $58.0 $55.2 $66.2 $60 $51.2 $54.1 $54.3 $ in millions $ in milli
Slide 14: Adjusted EBITDA Margin
Adjusted EBITDA Margin Defined as non-GAAP Operating Income plus Depreciation divided by Revenue 15.0% Full-Year 12.0% 10.0% 5.2% 5.0% 0.0% 2020 2021 By Quarter 20.0% 15.0% 13.3% 13.6% 12.4% 10.5% 11.8% 10.0% 5.0% 0.0% Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 See appendix for a reconciliation of Non-
Slide 15: Strong Balance Sheet and Cash Generation
Strong Balance Sheet and Cash Generation • Generated $48.1 million of cash from operations during 2021 • $789.7 million of cash and cash equivalents to support inorganic growth opportunities • Net cash position (cash less debt) of $329.7 million allows room for significant investment while maintaini
Slide 16: 2022 Outlook
2022 Outlook Revenue between Increasing additive manufacturing opportunity $570 million and $630 million driving demand Non-GAAP Gross Margins Focus on growing high-margin recurring revenue between streams and operational execution 40% and 44% Non-GAAP Operating Expenses Investing in talent, hardwar
Slide 17: Investor Day
INVESTOR DAY May 16, 2022 Detroit, Michigan Prior to Rapid +TCT Trade Show Invitations coming soon Contact John Nypaver – Investor Relations investor.relations@3dsystems.com ©2021 3D Systems, Inc. | All Rights Reserved. ©2021 3D Systems, Inc. | All Rights Reserved.
Slide 18: Q&A Session
Q&A Session 1-201-689-8345 18 ©2021 3D Systems, Inc. | All Rights Reserved.
Slide 19: Thank You
Thank You Find out more at: www.3dsystems.com 19 ©2021 3D Systems, Inc. | All Rights Reserved.
Slide 20: Appendix
Appendix ©2021 3D Systems, Inc. | All Rights Reserved.
Slide 21: Presentation of Information
Presentation of Information 3D Systems reports its financial results in accordance with GAAP. Management also reviews and reports certain non-GAAP measures, including: non-GAAP revenue, non-GAAP Gross profit, non-GAAP Gross profit margin, non-GAAP Operating expenses, non-GAAP Operating (loss)/income
Slide 22: Presentation of Information (continued)
Presentation of Information (continued) Amortization of intangibles, acquisition and divestiture related costs are excluded from non-GAAP measures as the timing and magnitude of business combination transactions are not predictable, can vary significantly from period to period and the purchase price
Slide 23: Non-GAAP Reconciliation – Quarter Ended Dec 31, 2021
Non-GAAP Reconciliation – Quarter Ended Dec 31, 2021 (Unaudited) 23 ©2021 3D Systems, Inc. | All Rights Reserved.
Slide 24: Non-GAAP Reconciliation – Year Ended Dec 31, 2021
Non-GAAP Reconciliation – Year Ended Dec 31, 2021 (Unaudited) 24 ©2021 3D Systems, Inc. | All Rights Reserved.
Slide 25: Non-GAAP Reconciliation – Quarter Ended Dec 31, 2020
Non-GAAP Reconciliation – Quarter Ended Dec 31, 2020 (Unaudited) 25 ©2021 3D Systems, Inc. | All Rights Reserved.
Slide 26: Non-GAAP Reconciliation – Year Ended Dec 31, 2020
Non-GAAP Reconciliation – Year Ended Dec 31, 2020 (Unaudited) 26 ©2021 3D Systems, Inc. | All Rights Reserved.
Slide 27: Non-GAAP Operating Income to Adjusted EBITDA Reconciliation
Non-GAAP Operating Income to Adjusted EBITDA Reconciliation 27 ©2021 3D Systems, Inc. | All Rights Reserved.
Slide 28: Revenue Adjusted for Divestitures (Unaudited) 2019
Revenue Adjusted for Divestitures (Unaudited) 2019 28 ©2021 3D Systems, Inc. | All Rights Reserved.
Slide 29: Revenue Adjusted for Divestitures (Unaudited) 2020
Revenue Adjusted for Divestitures (Unaudited) 2020 29 ©2021 3D Systems, Inc. | All Rights Reserved.
Slide 30: Revenue Adjusted for Divestitures (Unaudited) 2021
Revenue Adjusted for Divestitures (Unaudited) 2021 30 ©2021 3D Systems, Inc. | All Rights Reserved.