3D Systems reports Q4 non-GAAP EPS (11c), consensus (1c)

Reports Q4 revenue $114.84M, consensus $126.63M. Commenting on 2023 results and the outlook for 2024, Jeffrey Graves, president and CEO of 3D Systems said, “Our Q4 revenue results reflect the significant headwinds created by ongoing macroeconomic and geopolitical volatility. As we exited the third quarter, we had expected some of these broader pressures to moderate through year-end, as historical seasonality of increased consumption and year-end customer capex spending would typically translate to an acceleration of revenues in the Q4. While customer-driven pre-sales activities did accelerate as expected in the quarter, the same cannot be said for revenue. Fortunately, based upon customer feedback, we view this as a market timing issue rather than any permanent trend in customer adoption rates for additive manufacturing, or a loss of market share for 3D Systems.”