3D Systems Corp. (DDD) Stock Bourgeoning in Premarket, Here’s Why

3D Systems Corp. (DDD), a provider of 3D printing and digital manufacturing solutions, has surged 20.23% in the premarket trading session. Consequently, the stock was trading at $20 when last checked. During Monday’s regular trading session, the stock gained an increase of 2.18 percentage points and closed the day at $17.82. The stock has soared in aftermarket owing to the announcement of financial results. The earnings and revenue for Q4 2021 beat the estimates, hence, fomenting a greater investor interest in the stock.

Q4 and FY 2021 Results

On Monday, after the closure of the market, DDD announced the results for Q4 and FY 2021. The period ended on 31st December 2021. The Q4 2021 revenue was $150.9 million, decreasing by 12.6% compared to Q4 2020. The adjusted EBITDA margin during the quarter stood at 11.8%, while the non-GAAP diluted income per share was $0.09. During FY 2021, the revenue stood at $615.6 million, while the non-GAAP diluted income per share was $0.45 during the year.

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FY 2022 Outlook

DDD also announced the financial outlook for FY 2022. The company expects FY 2022 revenue to lie in the range of $570 and $630 million. The non-GAAP gross margin for FY 2022 is expected to lie between 40% and 44%, while the non-GAAP operating expenses are expected to remain between $225 and $250 million.

Comments from DDD CEO

Dr. Jeffrey Graves, President, and CEO of DDD stated that 2021 has proven to be a tremendous year for the company, as it has executed its plans brilliantly in the face of challenging circumstances. The performance by the company positions it well for investing for some excellent times coming ahead.

What’s Next for DDD?

Looking ahead, the analysts are of the view that even though the DDD stock holds several positive technical indicators, they are still not enough for it to be considered as a buy candidate. Hence, the stock should be perceived as a hold candidate currently while waiting for future developments.

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