3D Systems records decline in sales in the first quarter of 2024

3D printing specialist 3D Systems has published its financial results for the first quarter of 2024. The company recorded a 15.1 per cent decline in revenue compared to the same period last year. Total revenue amounted to 102.9 million US dollars.

According to the company, the main reason for the decline was the lower sales figures for 3D printers. This was due to the unfavourable macroeconomic and geopolitical conditions, which had a particular impact on investments in hardware. By contrast, the Materials and Services divisions performed positively.

The Healthcare Solutions division recorded a decline in turnover of 6.8 per cent to USD 45.4 million. The decline in printer sales to a major customer in the orthodontics sector was particularly noticeable here. Industrial Solutions felt the downturn even more keenly with a drop of 20.7 per cent to USD 57.5 million.

Despite the decline in turnover, 3D Systems was able to slightly improve its gross margin. It rose from 38.8 per cent in the previous year to 39.8 per cent. The company attributes this to a more favourable product mix.

Despite the current challenges, CEO Jeffrey Graves sees reason for optimism: ‘Interest in additive manufacturing applications remains very high. We are seeing the first encouraging signs in certain demand markets, which makes us confident that our sales performance will improve significantly over the course of the year.’

For the second quarter of 2024, 3D Systems expects sales of between USD 113.0 million and USD 113.5 million. The company is counting on continued strong demand in the area of personalised healthcare solutions and new opportunities in the dental industry.

3D Systems’ financial results reflect the current challenges facing the 3D printing industry. While hardware investments are declining, growth opportunities are emerging in specialised application areas and consumables.