3D SYSTEMS CORP
For the period ended Mar 31, 2025. Filed May 12, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 12, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flow
Condensed Consolidated Statements of Cash Flows
| Three Months Ended | ||
|---|---|---|
| (in thousands) | March 31, 2025 | March 31, 2024 |
| OPERATING ACTIVITIES | ||
| Net loss before redeemable non-controlling interest | $(36,986) | $(16,101) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 5,712 | 7,272 |
| Accretion of debt discount | 316 | 434 |
| Stock-based compensation | 4,168 | 8,252 |
| Non-cash operating lease expense | 2,371 | 2,728 |
| Provision for inventory obsolescence | 1,311 | 4,259 |
| Provision for bad debts | 325 | (71) |
| Loss on the disposition of businesses, property, equipment and other assets | 128 | 155 |
| Gain on debt extinguishment | — | (21,518) |
| Provision for deferred income taxes and reserve adjustments | 1,652 | 714 |
| Loss on equity method investment, net of taxes | 903 | 247 |
| Changes in operating accounts: | ||
| Accounts receivable | (1,231) | (2,391) |
| Inventories | (1,870) | 30 |
| Prepaid expenses and other current assets | (4,078) | (3,277) |
| Accounts payable | (2,799) | (8,708) |
| Deferred revenue and customer deposits | 5,745 | 7,854 |
| Accrued and other liabilities | (4,144) | (1,017) |
| All other operating activities | (5,309) | (4,407) |
| Net cash used in operating activities | (33,786) | (25,545) |
| INVESTING ACTIVITIES | ||
| Purchases of property and equipment | (2,795) | (3,190) |
| Proceeds from sale of assets and businesses, net of cash sold | — | 3 |
| Acquisitions and other investments, net of cash acquired | (550) | — |
| Other investing activities | (67) | — |
| Net cash used in investing activities | (3,412) | (3,187) |
| FINANCING ACTIVITIES | ||
| Repayment of borrowings/long-term debt | — | (87,150) |
| Taxes paid related to net-share settlement of equity awards | (285) | (1,710) |
| Other financing activities | (364) | (327) |
| Net cash used in financing activities | (649) | (89,187) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 1,178 | (1,579) |
| Net decrease in cash, cash equivalents and restricted cash | (36,669) | (119,498) |
| Cash, cash equivalents and restricted cash at the beginning of the year | 172,883 | 333,111 |
| Cash, cash equivalents and restricted cash at the end of the period | $136,214 | $213,613 |
| Balances per Condensed Consolidated Balance Sheets: | ||
| Cash and cash equivalents | $135,040 | $212,040 |
| Restricted cash included in prepaid expenses and other current assets | 124 | 120 |
| Restricted cash included in other assets (a) | 1,050 | 1,453 |
| Total cash, cash equivalents and restricted cash | $136,214 | $213,613 |
Continued on next page
Condensed Consolidated Statements of Cash Flows
| Three Months Ended | ||
|---|---|---|
| Supplemental cash flow information | March 31, 2025 | March 31, 2024 |
| Lease assets obtained in exchange for new lease liabilities | $2,758 | $688 |
| Cash interest payments | 242 | 258 |
| Cash income tax payments, net | 1,820 | 1,814 |
| Transfer of equipment from inventory to property and equipment, net (b) | 1,212 | 657 |
(a)Amounts included in restricted cash as of March 31, 2025 and March 31, 2024 primarily relate to guarantees in the form of a standby letter of credit as security for a long-term real estate lease. Refer to Note 12 for further information.
(b)Inventory is transferred to property and equipment at cost when we require additional machines for training or demonstration or for placement into on demand manufacturing services locations.
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