3D Systems announces restructuring initiative to improve operating efficiencies

3D Systems announced a multi-faceted restructuring initiative designed to improve operating efficiencies that include optimizing its European metal printer operations and streamlining its software organization. The initiative is expected to reduce operating expenses in 2023 by approximately $2.5M to $3.5M, and provide an annualized savings of approximately $5.5M to $7M in 2024 and beyond. As a key aspect of the restructuring initiative, the company will consolidate the engineering and manufacturing of its metal printers to reduce cycle time on new product introductions and increase operational efficiencies. The company’s metal additive manufacturing products include the DMP 200, DMP 350, and DMP 500, direct laser sintering systems.Also as part of the restructuring initiative, 3D Systems has streamlined its software development operating structure to further reduce ongoing operating expenses. Software is an essential element of the company’s future growth strategy, and over the past year, the company has merged its legacy portfolio of 3D printing applications with the Oqton Manufacturing Operating System organization, creating an integrated end-to-end software suite under a unified management structure. The software-related cost savings announced today reflect synergies derived from this successful integration effort. Activities related to these restructuring initiatives will begin immediately and are expected to be completed by mid-2023.