3D Systems Corporation (DDD) shares jumped 12.59% in after-hours on Monday, August 09, 2021, and closed the daily trading at $31.92. Earlier in the regular trading session on Monday, DDD’s stock gained 2.49%. DDD shares have risen 356.52% over the last 12 months, and they have moved up 3.05% in the past week. Over the past three months, the stock has gained 59.54%, while over the past six months, it has declined 45.85%.
Let’s see what are the latest news about the company?
DDD latest financial results announcement
On August 09, 2021, 3D Systems Corporation (DDD) reported its financial results for the second quarter ended June 30, 2021.
Q2 2021 financial highlights
- DDD reported revenue of $162.56 million in Q2 2021 compared to $112.7 million in Q2 2020.
- The gross profit margin was 42.4% in Q2 2021 compared to 31.2% in the same period last year.
- Total operating expenses were $79.1 million in the second quarter of 2021, compared to $69 million in Q2 2020.
- The company suffered a net loss of $9.6 million or net loss per basic and diluted share of $0.08 in Q2 2021 compared to $37.95 million of net loss per basic and diluted share of $0.33 in Q2 2020.
DDD sold Simbionix
On July 28, 2021, 3D Systems (DDD) signed a definitive agreement to sell its medical simulation business, Simbionix, to Surgical Science Sweden AB, for a purchase price of $305 million. This action will complete 3D Systems’ initiative to divest non-core businesses to focus exclusively on its strategic purpose as the leader in enabling additive manufacturing solutions for applications in growing markets that demand high-reliability products.
DDD new printing material
On July 13, 2021, 3D Systems rolled out a new material, “Accura AMX Rigid Black” which is designed to be used with the company’s stereolithography (SLA) technology. According to the company, the production-grade acrylate resin provides an exceptional resolution, accuracy, and surface finish, which is capable of withstanding long-term mechanical use.
DDD selected by Rodin Cars
On June 29, 2021, 3D Systems was selected by the New Zealand-based manufacturer of the ultimate track car, Rodin Cars, to provide its metal additive manufacturing solutions to produce parts for its soon-to-be-released hypercar, the Rodin FZero.
Among the hundreds of metal parts Rodin Cars is additively manufacturing for the Rodin FZero, they are producing a first-of-its-kind 8-speed sequential gearbox with a hydraulically controlled differential. This completely custom component can only be produced using additive manufacturing and was made possible through the collaboration of Rodin Cars’ design prowess and 3D Systems’ deep application expertise and additive manufacturing leadership.
Conclusion
The Q2 2021 financial results were the reason behind its good performance on Monday and it may continue to surge on Tuesday as well.
