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Sep 30, 2022
3D Systems Q3 2022 Earnings Report
3D Systems reported a decrease in revenue due to divestitures, but saw growth in non-GAAP revenue excluding divestitures and on a constant currency basis. The company is focused on operational execution and investments in additive manufacturing technologies and software.
Key Takeaways
3D Systems' third quarter results showed a decrease in revenue to $132.3 million due to divestitures, but non-GAAP revenue excluding divestitures and on a constant currency basis grew by 2.7%. The company is focused on operational execution and prudent investments.
Revenue for the third quarter of 2022 decreased (15.3)% to $132.3 million, primarily due to divestitures of non-core businesses during 2021.
Non-GAAP revenue excluding divestitures and on a constant currency basis grew 2.7% over the same period last year.
Industrial revenue decreased (14.6)% to $68.1 million compared to the same period last year, however, non-GAAP revenue excluding divestitures and on a constant currency basis increased 9.0% year-over-year.
Healthcare revenue decreased (16.0)% to $64.2 million, compared to the same period last year, and non-GAAP revenue excluding divestitures and on a constant currency basis decreased (3.5)% year-over-year.
Forward Guidance
3D Systems is updating its FY 2022 guidance to significantly tighten the revenue range and to improve the outlook for reduced non-GAAP operating expenses.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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