3D Systems Updates FY24 Revenue Guidance To $450M-$460M Vs $474.1M Est
Portfolio Pulse from Benzinga Newsdesk
3D Systems has updated its FY24 revenue guidance to $450M-$460M, down from the previous estimate of $474.1M, due to macroeconomic and geopolitical conditions. The company expects sequential revenue improvement in Q3 and Q4 of 2024, with a non-GAAP gross profit margin of 40%-42% and operating expenses under $60M for Q4.
August 29, 2024 | 8:09 pm
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3D Systems has revised its FY24 revenue guidance to $450M-$460M, lower than the previous estimate of $474.1M, due to macroeconomic and geopolitical factors. The company anticipates sequential revenue growth in Q3 and Q4, with a gross profit margin of 40%-42% and operating expenses under $60M for Q4.
The downward revision in revenue guidance suggests potential challenges in achieving previous targets, likely due to external macroeconomic and geopolitical factors. This could lead to a negative short-term impact on the stock price as investors adjust expectations. However, the company expects sequential revenue improvement in the latter half of the year, which may mitigate some concerns.
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