3D Systems, a leading provider of 3D printing solutions, has announced its financial results for the first quarter of 2023. The revenue in the first quarter of 2023 amounted to $121.236 million, representing an 8.8% decrease compared to Q1 2022. This decline primarily reflects continued weakness in the dental orthodontics market, partially offset by strong double-digit growth in the medical and industrial markets.
The company recorded a net loss of $29.421 million, a diluted loss per share of $0.23, and a diluted non-GAAP loss per share of $0.09.
Negative Adjusted EBITDA of $10.094 million reflects the impacts of lower total sales volume, inflationary impacts on input costs, and continued investments in future growth.
3D Systems is confirming its annual revenue guidance of $545-$575 million and raising its Adjusted EBITDA guidance to more than $2 million.
Dr. Jeffrey Graves, President and CEO of 3D Systems, commented on the first quarter results, emphasizing that the company is well-positioned to execute its revenue and profitability plans for this year. Despite the ongoing weakness in the dental orthodontics market, other major end markets delivered robust results. This was driven by the continued adoption of additive manufacturing in production environments in the U.S. and Europe. Particularly in the medical field, the company was able to record strong growth of over 20%.
The company also recorded strong performance in the industrial markets, including commercial rocketry and aerospace propulsion, industrial products, and consumer goods, all of which contributed to strong organic revenue growth rates of over 9%.
3D Systems plans to continue investing strongly in research and development to modernize its platforms while remaining committed to its efficiency and productivity efforts.
Details on the figures can be found directly at 3D Systems.
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