3D SYSTEMS CORPDDD
3D SYSTEMS CORP Earnings Per Share Disclosure
NOTE 17 - NET INCOME (LOSS) PER SHARE
Basic net income (loss) per share is calculated by dividing net loss attributable to 3D Systems' common stock shareholders by the weighted average number of common shares outstanding during the applicable period. Diluted net income (loss) per share incorporates the additional shares issuable upon the assumed exercise of stock options, the vesting of restricted stock and restricted stock units, and the assumed conversion of debt, except in such case when (1) the inclusion of such shares or potential
shares would be anti-dilutive or (2) when the vesting of restricted stock or restricted stock units is contingent upon one or more performance conditions that have not been met as of the balance sheet date.
| Year Ended December 31, | |||||||||||||||||
| (in thousands, except per share amounts) | 2025 | 2024 | 2023 | ||||||||||||||
Numerator (basic): | |||||||||||||||||
Net income (loss) attributable to 3D Systems Corporation | $ | 29,883 | $ | (255,593) | $ | (362,688) | |||||||||||
| Redeemable non-controlling interest redemption value in excess of carrying value | — | 61 | (479) | ||||||||||||||
Net income (loss) attributable to common stock shareholders | $ | 29,883 | $ | (255,532) | $ | (363,167) | |||||||||||
| Numerator (diluted): | |||||||||||||||||
Net income (loss) income attributable to 3D Systems' common stock shareholders | $ | 29,883 | $ | (255,532) | $ | (363,167) | |||||||||||
| Add back: Interest on 2030 Notes | 2,809 | — | — | ||||||||||||||
Net income (loss) income attributable to 3D Systems' common stock shareholders plus assumed conversions | $ | 32,692 | $ | (255,532) | $ | (363,167) | |||||||||||
Denominator: | |||||||||||||||||
Basic weighted average common shares outstanding(a) | 129,159 | 131,861 | 129,944 | ||||||||||||||
| Effect of Dilutive securities: | |||||||||||||||||
| Restricted stock and RSUs | 1,393 | — | — | ||||||||||||||
| Conversion of 2030 Notes | 44,962 | — | — | ||||||||||||||
| Diluted weighted average common shares outstanding | 175,514 | 131,861 | 129,944 | ||||||||||||||
Net income (loss) per share – basic | $ | 0.23 | $ | (1.94) | $ | (2.79) | |||||||||||
Net income (loss) per share - diluted | $ | 0.19 | $ | (1.94) | $ | (2.79) | |||||||||||
The following table presents the potentially dilutive shares that were excluded from the computation of diluted net loss per share attributable to common stockholders because their effect was considered anti-dilutive for the years ended December 31, 2025, 2024 and 2023, respectively.
| Year Ended December 31, | |||||||||||||||||
| (in thousands) | 2025 | 2024 | 2023 | ||||||||||||||
Restricted stock, restricted stock units, and PSUs | 2,691 | 5,185 | 6,182 | ||||||||||||||
| Stock options | 160 | 160 | 420 | ||||||||||||||
| Total | 2,851 | 5,345 | 6,602 | ||||||||||||||
On November 16, 2021, the Company issued $460.0 million in aggregate principal amount of 0% Convertible Senior Notes due November 15, 2026, as discussed in Note 12. The Notes’ impact to diluted shares is calculated using the if-converted method as prescribed in ASU 2020-06. The Notes will increase the diluted share count when the average share price over a quarterly or annual reporting period is greater than $35.92 per share, the conversion price of the Notes. For the year ended December 31, 2025, 2024 and 2023, the Notes were anti-dilutive on a stand-alone basis because the average share price during these periods did not exceed the conversion price. For the years ended December 31, 2024 and 2023, the Notes were also anti-dilutive because we reported a net loss for each of the respective periods.
The anti-dilution table above excludes shares issued in connection with the settlement of accrued incentive compensation. In the years ended December 31, 2025 and 2024 and 2023 there were no shares related to the payment of accrued incentive compensation.
For the year ended December 31, 2023, the table above excludes an estimate of 138 thousand shares that are contingently issuable under the dp polar earnout agreement, as discussed in Note 15.
Diluted income per common share was computed using the treasury stock method for restricted stock and restricted stock units and the if-converted method for convertible debt.
Share Repurchases
On June 23, 2025, 3D Systems repurchased 8.0 million shares of its outstanding common stock at a price of $1.87 per share, which was equal to the closing price of the common stock on the New York Stock Exchange on June 17, 2025. The share repurchase was executed concurrently with the issuance of the 2030 Notes (refer to Note 12).
The share repurchase was approved by the Company’s Board of Directors in connection with the broader refinancing transaction. It was structured to mitigate potential dilution associated with the issuance of the 2030 Notes and was funded as part of the same transaction that retired a significant portion of the Company’s 2026 Notes at a discount to par. The Company retired its common stock upon repurchase.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 9, 2026 | Showing above |
| 2024 | Mar 27, 2025 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.