3D Systems Stock Slides On Q3 Miss, Retail Chatter Soars To 7-Month Highs

Shares of additive manufacturing solutions company 3D Systems Corp ($DDD) fell over 8% on Wednesday morning after the company’s third-quarter earnings fell short of Wall Street estimates.

Revenue declined 9% year-over-year (YoY) to $112.9 million and fell short of an analyst estimate of $115.74 million primarily driven by macro weakness in printer sales, partially offset by approximately 10% growth in consumables sales.

The company reported an adjusted loss of $0.12 per share, worse than a feared $0.10.

Net loss widened to $178.6 million during the quarter from $11.7 million in the same quarter a year ago.

The firm’s Healthcare Solutions revenue rose 5% YoY to $55.1 million, led by strong growth in Dental and Personalized Healthcare solutions.

CEO Jeffrey Graves acknowledged that third-quarter revenue continued to be impacted by sluggish capital investments by the firm’s customers for new production capacity, particularly in the Industrial markets, impacting the sale of new printing systems.  

“While 2024 has been a challenging year for new printer system sales, we are increasingly encouraged about the future, driven in large part by customer demand for our Application Innovation Group, a group of highly skilled process specialists who assist customers in developing new applications for 3D printing,” he said.

For the full-year, the company estimates revenue within the range of $440 million-$450 million and non-GAAP gross profit margin within the range of 38%-40%.

On Wednesday morning, retail sentiment on Stocktwits dipped into the ‘bearish’ territory (38/100) from ‘neutral’ a day ago, accompanied by ‘extremely high’ retail chatter that hit a 7-month high.

3D Systems’ Sentiment Meter and Message Volume as of 9:25 a.m. ET on Nov. 27, 2024 | Source: Stocktwits

The stock has lost over 49% on a year-to-date basis.

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