3D Systems (DDD) investor relations material

Executive summary

• Q3 2025 revenue was $91.2 million, down 19% year-over-year, impacted by weak customer capex, tariffs, and divestitures.

• Net loss for Q3 2025 was $18.1 million, a significant improvement from the prior year due to the absence of large impairment charges.

• Operating expenses declined sharply from restructuring, cost reductions, and lower compensation, with $8.0 million in restructuring charges year-to-date.

• Strategic focus included new product launches in photopolymer jetting for jewelry and dental, and continued investments in MedTech and international expansion.

• Completed divestitures of Geomagic, 3DXpert, and Oqton, resulting in a $125.7 million gain and a streamlined focus on core operations.

Financial highlights

• Q3 2025 revenue: $91.2 million (down 19% year-over-year); nine months revenue: $280.6 million (down 14.7% year-over-year).

• Gross profit margin declined to 32.3% (Q3 2024: 36.9%), mainly due to lower sales and divestitures.

• Adjusted EBITDA loss improved to $10.8 million from $14.3 million in the prior year.

• Non-GAAP operating expenses fell to $44.7 million, down 24% year-over-year (excluding Geomagic).

• Cash and equivalents at quarter-end: $95.5 million; total debt: $122.6 million, with $34.7 million due in Q4 2026 and $92 million in 2030.

Outlook and guidance

• Sequential revenue growth of 8% to 10% is expected in Q4 2025, driven by new printer systems and higher customer capex.

• Cost reduction initiatives are on track to deliver over $50 million in annualized savings by year-end, with further reductions targeted through H1 2026.

• CapEx is expected to be substantially below the historical 4% of sales benchmark for the next couple of years.

• Management expects continued improvement in cash flows in the second half of 2025, but macroeconomic and industry headwinds are expected to persist.