Audit Information |
12 Months Ended |
|---|---|
Dec. 31, 2023 | |
| Audit Information [Abstract] | |
| Auditor Name | BDO USA, P.C. |
| Auditor Location | Charlotte, North Carolina |
| Auditor Firm ID | 243 |
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Statement of Financial Position [Abstract] | ||
| Accounts receivable, reserves | $ 3,389 | $ 3,114 |
| Stockholders’ equity: | ||
| Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
| Common stock, shares authorized (in shares) | 220,000,000 | 220,000,000 |
| Common stock, shares issued (in shares) | 133,619,000 | 131,207,000 |
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|---|
| Statement of Cash Flows [Abstract] | |||
| Restricted cash, current | $ 119 | $ 114 | $ 313 |
| Restricted cash, noncurrent | $ 1,467 | $ 3,727 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Statement of Comprehensive Income [Abstract] | |||
| Net (loss) income before redeemable non-controlling interest | $ (362,953) | $ (122,949) | $ 322,052 |
| Other comprehensive (loss) income, net of taxes: | |||
| Pension plan adjustment | (386) | 2,942 | 682 |
| Derivative financial instruments | 0 | 0 | 721 |
| Foreign currency translation | 9,630 | (18,730) | (39,546) |
| Unrealized gain (loss) on short-term investments | 108 | (3,557) | 0 |
| Amounts reclassified from accumulated other comprehensive income (loss) | 220 | 3,229 | 0 |
| Foreign currency translation reclassification - sales of businesses | 0 | 0 | 8,912 |
| Total other comprehensive income (loss), net of taxes: | 9,572 | (16,116) | (29,231) |
| Total comprehensive (loss) income, net of taxes | (353,381) | (139,065) | 292,821 |
| Less: comprehensive loss attributable to redeemable non-controlling interest | (265) | (238) | 0 |
| Comprehensive (loss) income attributable to 3D Systems Corporation | $ (353,116) | $ (138,827) | $ 292,821 |
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands |
Total |
Common Stock |
Additional Paid-In Capital |
Treasury Stock |
Accumulated Deficit |
Accumulated Other Comprehensive Income (Loss) |
|---|---|---|---|---|---|---|
| Beginning balance (in shares) at Dec. 31, 2020 | 127,626 | |||||
| Beginning balance at Dec. 31, 2020 | $ 430,723 | $ 128 | $ 1,404,964 | $ (22,590) | $ (943,303) | $ (8,476) |
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
| Issuance (repurchase) of stock (in shares) | 813 | |||||
| Issuance (repurchase) of stock | (12,620) | (12,620) | ||||
| Shares issued to acquire assets and businesses (in shares) | 3,430 | |||||
| Shares issued to acquire assets and businesses | 99,044 | $ 3 | 99,041 | |||
| Stock-based compensation expense | 32,412 | 32,412 | ||||
| Net (loss) income attributable to 3D Systems Corporation | 322,052 | 322,052 | ||||
| Pension plan adjustment | 181 | 181 | ||||
| Gain on pension plan - unrealized | 501 | 501 | ||||
| Gain (loss) on derivative instruments | 721 | 721 | ||||
| Retirement of treasury shares (in shares) | (3,494) | |||||
| Retirement of treasury shares | 0 | $ (3) | (22,587) | 22,590 | ||
| Redeemable non-controlling interest redemption value in excess of carrying value | 0 | |||||
| Foreign currency translation adjustment | (30,633) | (30,633) | ||||
| Ending balance (in shares) at Dec. 31, 2021 | 128,375 | |||||
| Ending balance at Dec. 31, 2021 | 842,381 | $ 128 | 1,501,210 | 0 | (621,251) | (37,706) |
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
| Shares issued, vested & expired under equity incentive plans (in shares) | 2,783 | |||||
| Shares issued, vested & expired under equity incentive plans | 3 | $ 3 | ||||
| Shares issued to acquire assets and businesses (in shares) | 795 | |||||
| Shares issued to acquire assets and businesses | 7,091 | $ 1 | 7,090 | |||
| Shares withheld related to net-share settlement of equity awards (in shares) | (746) | |||||
| Shares withheld related to net-share settlement of equity awards | (10,864) | $ (1) | (10,863) | |||
| Stock-based compensation expense | 50,756 | 50,756 | ||||
| Net (loss) income attributable to 3D Systems Corporation | (122,711) | (122,711) | ||||
| Pension plan adjustment | 2,942 | 2,942 | ||||
| Unrealized loss on short-term investments | (328) | (328) | ||||
| Redeemable non-controlling interest redemption value in excess of carrying value | (596) | (596) | ||||
| Foreign currency translation adjustment | (18,730) | (18,730) | ||||
| Ending balance (in shares) at Dec. 31, 2022 | 131,207 | |||||
| Ending balance at Dec. 31, 2022 | 749,944 | $ 131 | 1,547,597 | 0 | (743,962) | (53,822) |
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
| Shares issued, vested & expired under equity incentive plans (in shares) | 3,033 | |||||
| Shares issued, vested & expired under equity incentive plans | 3 | $ 3 | ||||
| Shares withheld related to net-share settlement of equity awards (in shares) | (621) | |||||
| Shares withheld related to net-share settlement of equity awards | (5,211) | (5,211) | ||||
| Stock-based compensation expense | 35,612 | 35,612 | ||||
| Net (loss) income attributable to 3D Systems Corporation | (362,688) | (362,688) | ||||
| Pension plan adjustment | (386) | (386) | ||||
| Unrealized loss on short-term investments | 328 | 328 | ||||
| Redeemable non-controlling interest redemption value in excess of carrying value | (479) | (479) | ||||
| Foreign currency translation adjustment | 9,630 | 9,630 | ||||
| Ending balance (in shares) at Dec. 31, 2023 | 133,619 | |||||
| Ending balance at Dec. 31, 2023 | $ 426,753 | $ 134 | $ 1,577,519 | $ 0 | $ (1,106,650) | $ (44,250) |
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
Nov. 16, 2021 |
|---|---|---|---|---|
| Statement of Stockholders' Equity [Abstract] | ||||
| Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 |
Overview and Basis of Presentation |
12 Months Ended |
|---|---|
Dec. 31, 2023 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Overview and Basis of Presentation | (1) Overview and Basis of Presentation Nature of Business 3D Systems Corporation (“3D Systems” or the “Company” or “we” or “our” or “us”) provides comprehensive 3D printing and digital manufacturing solutions, including 3D printers for plastics and metals, materials, software, and services, including maintenance, advanced manufacturing and applications engineering. We market our products and services through subsidiaries in North America and South America (collectively referred to as "Americas"), Europe and the Middle East (collectively referred to as "EMEA"), and Asia Pacific and Oceania (collectively referred to as "APAC"). Our solutions support advanced applications in two key verticals: Healthcare Solutions (which includes, dental, medical devices, personalized health services and regenerative medicine) and Industrial Solutions (which includes aerospace, defense, transportation and general manufacturing). Basis of Presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). The consolidated financial statements include the accounts of the Company, including all majority and wholly-owned subsidiaries and entities in which a controlling interest is maintained. All significant intercompany accounts and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform to the current year presentation. A non-controlling interest in a subsidiary reflects an ownership interest in a majority-owned subsidiary that is not attributable to the Company. For the periods presented, the Company's financial statements include a redeemable non-controlling interest (“RNCI”), which has been reported in temporary equity in the consolidated balance sheets. The net loss attributable to the RNCI is presented as an adjustment to the Company's consolidated net (loss) income to arrive at net (loss) income attributable to 3D Systems Corporation in the consolidated statements of operations and consolidated statements of comprehensive (loss) income. Furthermore, adjustments to record the RNCI at its redemption value are recorded to additional paid-in capital, and the excess redemption value is recognized as a reduction to net income, or increase to net loss, attributable to 3D Systems’ shareholders for purposes of reporting earnings or loss per share. See Note 15 for a summary of the activity related to the reported RNCI balance during the periods presented. Our annual reporting period is the calendar year. All dollar and share amounts and other amounts presented in the accompanying footnotes are presented in thousands, except for per share information.
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Significant Accounting Policies |
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| Significant Accounting Policies | (2) Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect (1) the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the balance sheet dates and (2) the reported amounts of revenues and expenses during the reporting periods. We base our estimates on historical experience, currently available information and various other assumptions that we believe are reasonable under the circumstances. Actual results could differ from these estimates. Revenue Recognition We account for revenue in accordance with Accounting Standards Codification ("ASC") Topic 606, “Revenue from Contracts with Customers.” Collaborative revenue contracts, for which the collaboration partner meets the definition of a customer, are recorded in accordance with ASC Topic 606; otherwise, the collaborative arrangements are recorded in accordance with ASC 808, "Collaborative Arrangements". See Note 5 for further discussion. Cash and Cash Equivalents Cash and cash equivalents consist of cash and highly liquid investments with maturities of three months or less when acquired. At times, cash and cash equivalents balances may be in excess of FDIC insurance limits. Short-Term Investments At times, the Company has invested a portion of its excess cash in short-term investments. The Company's short-term investment accounting policy is that securities with maturities greater than 90 days at the time of purchase that are available for operations in the next 12 months are classified as short-term investments. The Company’s short-term investments primarily consist of investment grade bonds, certificates of deposit, commercial paper, and short maturity bond funds, all with a remaining maturity of generally less than twelve months at the date of purchase and classified as available-for-sale. Interest and dividends on these investments are recorded into income when earned. Available-for-sale securities, which consist of debt securities, are carried at fair value with unrealized gains and losses, net of related tax, reported in other comprehensive (loss) income. Adjustments to the fair value of investments classified as available-for-sale are recorded as an increase or decrease in accumulated other comprehensive income (loss) in shareholders’ equity. Impairment of available-for-sale securities that is attributable to credit losses is recognized as an allowance for credit losses, net of taxes, in the consolidated statement of operations in the period in which a credit loss is identified. The Company periodically evaluates its investment for credit losses. Variable Interest Entities (VIEs) Upon making an investment in an entity, we assess whether the entity is a VIE. The determination of whether an entity in which we hold a direct or indirect variable interest is a VIE is based on several factors, including whether the entity’s total equity investment at risk upon inception is sufficient to finance the entity’s activities without additional subordinated financial support. We make judgments regarding the sufficiency of the equity at risk based first on a qualitative analysis, and then a quantitative analysis, if necessary. We analyze any investments in VIEs to determine if we are the primary beneficiary. We perform this assessment at the time that we become involved with a VIE and reevaluate our conclusion upon the occurrence of a reconsideration event. In evaluating whether we are the primary beneficiary, we evaluate our direct and indirect economic interests in the entity. Determining which reporting entity, if any, is the primary beneficiary of a VIE is primarily a qualitative approach focused on identifying which reporting entity has both (1) the power to direct the activities of a VIE that most significantly impact such entity’s economic performance and (2) the obligation to absorb losses or the right to receive benefits from such entity that could potentially be significant to such entity. Performance of such analysis requires the exercise of judgment, and we consider a variety of factors in identifying the entity that holds the power to direct matters that most significantly impact a VIE’s economic performance including, but not limited to, the ability to direct a VIE’s operating decisions and activities. In addition, we consider the rights of other investors to participate in those decisions. We concluded that our investments in Theradaptive and the National Additive Manufacturing Innovation ("NAMI") joint venture are each investments in a VIE. These entities in which we have invested are not consolidated because we concluded that the Company is not the primary beneficiary. As of December 31, 2023, our maximum exposure to losses associated with these VIEs is limited to the $13,247 carrying value of our investments in the VIEs, which is included in other assets on our consolidated balance sheets. Refer to Note 10 for additional details regarding our investments in Theradaptive and NAMI. We have no other investments in unconsolidated entities that have been determined to be VIEs. Non-Current Investments We recognize investments in equity securities without a readily determinable fair value at cost minus impairment. We assess these investments for potential impairment if an event occurs or circumstances change that would indicate the carrying amount may be impaired. Impairments of equity securities without a readily determinable fair value are recorded to interest and other income (expense), net in the consolidated statements of operations in the period in which they become impaired. Declines in the fair value of investments in debt securities due to credit losses are recorded as an allowance for credit losses in the consolidated statement of operations in the period in which a credit loss is identified. For the years ended December 31, 2023, 2022, and 2021, we recorded impairment charges of $0, $2,900 and $0, respectively, related to non-current investments. The aggregate carrying amount of all non-current investments totaled $26,829 and $13,668 at December 31, 2023 and 2022, respectively, and is included in other assets on our consolidated balance sheets. Equity Method of Accounting The Company accounts for its investment in a joint venture using the equity method of accounting because it does not have a controlling interest and is not the primary beneficiary; however, the Company has the ability to exert significant influence. Under the equity method of accounting, this initial investment was recorded at cost, and the investment is subsequently adjusted for the Company’s proportionate share of the net earnings or losses and other comprehensive income or loss of the investee. Intra-entity profits or losses associated with the Company’s equity method investment are eliminated until realized by the investee in transactions with third parties. Income or loss from this investment is recorded as a separate line item in the consolidated statements of operations on a three-month lag. We evaluate material events occurring during the three-month lag period to determine whether the effects of such events should be disclosed in our financial statements. The Company evaluates its investment in the joint venture for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable. Refer to Note 10. Accounts Receivable and Allowance for Doubtful Accounts Trade accounts receivable are recorded at the invoiced amount and do not bear interest. In evaluating the collectability of accounts receivable, we assess a number of factors, including specific customers’ ability to meet their financial obligations to us, the length of time receivables are past due, historical collection experience, current economic conditions, and reasonable and supportable forecasts. Based on these assessments, we may record a reserve for specific customers, as well as a general reserve and allowance for expected credit losses. If circumstances related to specific customers change, or economic conditions deteriorate such that our past collection experience is no longer relevant, our estimate of the recoverability of accounts receivable could be further reduced from the levels provided for in the consolidated financial statements. As of December 31, 2023, no single customer represented more than 10% of our consolidated accounts receivable balance. As of December 31, 2022, one customer represented greater than 10% of our consolidated accounts receivable balance. The following presents the changes in the balance of our allowance for doubtful accounts:
(a)Other includes the impact of write-offs, recoveries, divestitures and foreign currency translation adjustments. Inventories Inventories are stated at the lower of cost or net realizable value, with cost reflecting standard cost, which approximates the first-in, first-out method. Capitalized inventory costs include materials, labor, and manufacturing overhead that relate to the acquisition of raw materials and production into finished goods. The Company regularly reviews inventory for excess and obsolescence and records a provision to write down inventory to its net realizable value when carrying value is in excess of such value. Property and Equipment Property and equipment are recorded at cost and are depreciated over their estimated useful lives using the straight-line method. Upon retirement or sale, the cost of assets disposed of and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the determination of net income or loss. Repairs and maintenance costs are expensed as incurred. Long-Lived Assets and Goodwill Long-Lived Assets We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. Recoverability is assessed for the carrying value of assets held for use based on a review of undiscounted projected cash flows. Impairment losses, where identified, are measured as the excess of the carrying value of a long-lived asset over its estimated fair value as determined by discounted projected cash flows. Refer to Note 7 for details regarding impairment charges that were recorded related to tangible long-lived assets with finite lives for the years ended December 31, 2023, 2022, and 2021. Intangible Assets (Excluding Goodwill) Intangible assets include patents, trade names, customer relationships, acquired technology, and IPR&D. Intangible assets with a finite life are (1) amortized on a straight-line basis, with estimated useful lives typically ranging from 2 to 20 years, and (2) assessed for impairment whenever events or changes in circumstances indicate that their carrying value may not be recoverable, consistent with the Company's accounting policy for other long-lived assets with a finite life. Amortization is recognized within selling, general and administrative expense on the consolidated statements of operations. Acquired IPR&D represents the fair value assigned to those research and development ("R&D") projects that were acquired in a business combination for which the related products have not received regulatory approval or commercial viability and have no alternative future use. IPR&D is capitalized at its fair value as an indefinite-lived intangible asset, and any development costs incurred after the acquisition are expensed as incurred. The fair value of IPR&D is determined by estimating the future cash flows of each project and discounting the net cash flows back to their present values. Upon achieving regulatory approval or commercial viability for the related product, the indefinite-lived intangible asset is accounted for as a finite-lived asset and is amortized on a straight-line basis over the estimated useful life. If the project is not completed or is terminated or abandoned, the Company may have to recognize an impairment related to the IPR&D, which is charged to expense. Indefinite-lived intangible assets are tested for impairment annually in the fourth quarter of the fiscal year and whenever events or changes in circumstances indicate that the carrying amount may be impaired. Impairment is calculated as the excess of the asset’s carrying value over its fair value. Fair value is generally determined using a discounted future cash flow analysis. IPR&D with no alternative future use acquired outside of a business combination is expensed immediately. During the year ended December 31, 2023, we recorded impairment charges totaling $22,979 related to intangible assets. Refer to Note 8 for additional details. No impairment charges were recorded for intangible assets for the years ended December 31, 2022 and 2021. Goodwill Goodwill is the excess of the cost of an acquired entity over the amounts assigned to the assets acquired and liabilities assumed in a business combination. Goodwill is not amortized. Goodwill is tested for impairment annually, and is tested for impairment between annual tests if an event occurs or circumstances change that would indicate the carrying amount may be impaired. Impairment testing for goodwill is performed at the reporting unit level, with all goodwill assigned to a reporting unit. During the fourth quarter of 2023, we elected to change the annual goodwill impairment testing date for each of our reporting units from November 30th to November 1st and, accordingly, we have performed our impairment tests for the current fiscal year as of November 1, 2023. The Company does not believe that this change to the annual impairment testing date represents a material change in the method of applying an accounting principle. This voluntary change is preferable because it provides management with sufficient time to complete goodwill impairment tests in advance of the Company’s year-end financial reporting and provides additional time for the execution of key controls and management review over the significant estimates and judgements inherent in the performance of the test. This change to the goodwill impairment testing date has not been applied retrospectively as it is impracticable to do so without applying hindsight when developing key assumptions and estimates required to perform the test. The testing of goodwill for impairment requires the Company to make several estimates related to projected future cash flows to determine the fair value of the reporting units to which goodwill has been assigned. The Company determines whether each reporting unit's fair value exceeds its carrying amount, including goodwill, utilizing a discounted cash flow analysis and other valuation techniques, as deemed appropriate. Internal operational budgets and long-range strategic plans are used as a basis for the cash flow analysis. The Company also utilizes assumptions related to working capital, capital expenditures, and terminal growth rates. The discount rate applied to the cash flow analysis is based on the weighted average cost of capital (“WACC”) for each reporting unit. An impairment is recognized when the carrying amount of the reporting unit’s net assets exceeds the estimated fair value of the reporting unit. For a summary of our goodwill by reporting unit and discussion of the goodwill impairment charge recorded for the year ended December 31, 2023, see Note 9. No impairment charges were recorded related to goodwill for the years ended December 31, 2022 and 2021. Contingencies We follow the provisions of ASC 450, “Contingencies,” which requires that an estimated loss from a loss contingency be accrued by a charge to income if (1) it is probable that an asset has been impaired or that a liability has been incurred and (2) the amount of the loss can be reasonably estimated. Legal costs related to the defense or settlement of a loss contingency are expensed when such costs are incurred and, accordingly, future legal costs expected to be incurred are not accrued as part of the liability recorded when a loss contingency has been deemed probable and estimable. Foreign Currency Translation and Transactions The local currency in which a subsidiary operates is generally considered its functional currency for those subsidiaries domiciled outside the United States ("foreign subsidiaries"). The functional currency financial statements of foreign subsidiaries are translated to U.S. dollars ("USD") in connection with the preparation of the Company's consolidated financial statements. Assets and liabilities of foreign subsidiaries are translated to USD at month-end exchange rates applicable to the reporting period. Income and expense items are translated to USD monthly using monthly average exchange rates. The effects of translating a foreign subsidiary's financial statements are recorded as currency translation adjustments and reported as a component of accumulated other comprehensive income (loss) in shareholders’ equity. Foreign currency transactions are those transactions whose terms are denominated in a currency other than an entity's functional currency. Foreign currency transactions that remain unsettled as of the end of a reporting period must be remeasured into the entity's functional currency, resulting in the recognition of a gain or loss when a change in exchange rate has occurred subsequent to the date on which the transaction was originally recognized or was most recently remeasured. The Company recognizes foreign currency transaction gains and losses within interest and other income (expense), net on its consolidated statements of operations. See Note 18. Derivative Financial Instruments We are exposed to market risk from changes in interest rates, foreign currency exchange rates and commodity prices, which may adversely affect our results of operations and financial condition. We seek to minimize these risks through regular operating and financing activities and, when we consider it to be appropriate, through the use of derivative financial instruments. We do not purchase, hold or sell derivative financial instruments for trading or speculative purposes. We may use derivative financial instruments to manage our exposure to changes in interest rates on outstanding debt instruments. For those financial instruments that qualify for cash flow hedge accounting treatment under ASC 815, “Derivatives and Hedging,”, and where we elect to prepare and maintain the documentation required to qualify for cash flow hedge accounting treatment, gains and losses (realized or unrealized) are recognized in accumulated other comprehensive income (loss) and are reclassified into earnings when the underlying transaction is recognized in net earnings. Depending on the fair value at the end of the reporting period, derivatives are recorded either in prepaid and other current assets or in accrued and other liabilities on the consolidated balance sheets. We and our subsidiaries conduct business in various countries using both functional currencies and other currencies to effect cross-border transactions. As a result, we and our subsidiaries are subject to the risk that fluctuations in foreign currency exchange rates between the dates that non-functional currency transactions are entered into and their respective settlement dates will result in a foreign currency exchange gain or loss. When practicable, we endeavor to match assets and liabilities in the same currency on our U.S. balance sheet and those of our subsidiaries in order to reduce these risks. We may enter into foreign currency exchange contracts to hedge the exposure arising from foreign currency transactions. For our hedges of foreign currency exchange rates and commodity prices, we have elected to not prepare and maintain the documentation to qualify for hedge accounting treatment under ASC 815, “Derivatives and Hedging.” Accordingly, changes in fair value are recognized in interest and other income (expense), net on the consolidated statements of operations and, depending on the fair value at the end of the reporting period, derivatives are recorded either in prepaid expenses and other current assets or in accrued and other liabilities on the consolidated balance sheets. We are exposed to credit risk if the counterparties to our derivative transactions are unable to perform their obligations. However, we seek to minimize such risk by entering into transactions with counterparties that are believed to be creditworthy financial institutions. As of December 31, 2023 and 2022, we did not hold any derivative or hedging financial instruments. Research and Development Costs R&D costs, consisting primarily of employee compensation, operating supplies, facility costs and depreciation, are expensed as incurred. When the Company is reimbursed by a collaboration partner for work the Company performs, it records the costs incurred as R&D expense and the related reimbursement as a reduction to R&D expense in its consolidated statements of operations. Earnings (Loss) Per Share Basic earnings (loss) per share is calculated using the weighted-average number of common shares outstanding during each period. Diluted earnings per share is calculated based upon the inclusion of additional dilutive and potentially dilutive shares, which include shares issuable upon exercise of outstanding stock options, upon vesting of employee restricted stock-based awards, upon the accrual of incentive compensation to be paid in shares (if any performance-based conditions have been satisfied as of the end of the reporting period), and to settle the portion of the convertible notes that may be settled in shares (where the conversion of such instruments would be dilutive). See Note 20. Advertising Costs Advertising costs are expensed as incurred and recorded in selling, general and administrative expense. Advertising costs, including trade shows, were $7,124, $7,255 and $5,486 for the years ended December 31, 2023, 2022 and 2021, respectively. Pension Costs We sponsor a retirement benefit for one of our non-U.S. subsidiaries in the form of a defined benefit pension plan. Accounting standards require the cost of providing this pension benefit be measured on an actuarial basis. Actuarial gains and losses resulting from both normal year-to-year changes in valuation assumptions and differences between assumptions and actual experience are deferred and amortized. The application of these accounting standards require us to make assumptions and judgements that can significantly affect these measurements. Our critical assumptions in performing these actuarial valuations include the selection of the discount rate to determine the present value of the pension obligations, which affects the amount of pension expense recorded in any given period. Changes in the discount rate could have a material effect on our reported pension obligations and related pension expense. See Note 14. Equity Compensation Plans We recognize compensation expense for our stock-based compensation programs, which provide for the issuance of stock options, restricted stock, restricted stock units (“RSU”), performance-based awards and market-based awards. The fair value of service-based awards is estimated at the grant date and recognized as expense ratably over the requisite service period of the award. The fair value of performance-based awards is estimated on the grant date and expensed over an implicit or explicit service period when the performance condition is deemed probable of achievement. Performance-based awards that cliff vest are expensed ratably using the straight-line method; whereas, performance-based awards with graded vesting features are expensed using the graded vesting method. Stock compensation expense recorded for performance-based awards is reversed if the performance condition is no longer deemed probable of achievement or ultimately is not met. Some RSUs are granted with a performance measure derived from non-GAAP-based management targets or non-financial targets. Depending on our performance with respect to these metrics, the number of RSUs earned may be less than, equal to or greater than the original number of RSUs awarded, subject to a payout range. The fair value of awards with market conditions ("market-based awards") is determined using a Monte Carlo valuation model and is expensed over an implicit or explicit service period regardless of whether the market condition is probable of achievement or not. Market-based awards that cliff vest are expensed ratably using the straight-line method; whereas, market-based awards with graded vesting features are expensed using the graded vesting method. Stock compensation expense is not reversed if the market condition is not met. For all share-based payment awards, we recognize forfeitures when they occur. Income Taxes We and the majority of our domestic subsidiaries file a consolidated U.S. federal income tax return, while four of our domestic entities file separate U.S. federal income tax returns. Our non-U.S. subsidiaries file income tax returns in their respective jurisdictions. Income taxes are accounted for under the asset and liability method. Deferred income tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and for tax benefit carryforwards. Our deferred income tax assets and liabilities at the end of each period are determined using enacted tax rates. We establish a valuation allowance for those jurisdictions in which the expiration date of tax benefit carryforwards or projected taxable earnings leads us to conclude that it is “more likely than not” that a deferred tax asset will not be realized. This evaluation process includes the consideration of all available evidence regarding historical results and future projections, including the estimated timing of reversals of existing taxable temporary differences and potential tax planning strategies. Once a valuation allowance is established, it is maintained until a change in factual circumstances gives rise to sufficient income of the appropriate character and timing that will allow a partial or full utilization of the deferred tax asset. In accordance with ASC 740, “Income Taxes,” the impact of an uncertain tax position on our income tax returns is recognized at the largest amount that is more likely than not to be required to be recognized upon audit by the relevant taxing authority. We include interest and penalties accrued in the consolidated financial statements as a component of income tax expense. For the years ended December 31, 2023, 2022 and 2021, interest and penalties reported in income tax expense totaled $39, $76, and $55. See Note 19 for further discussion. Operating and Finance Leases We determine if an arrangement contains a lease at inception. We record both operating leases and finance leases on our balance sheet and do not separate non-lease components from our real estate leases. We exclude leases with a term of one year of less from our balance sheet. Some leases include the option to purchase the leased asset, terminate the lease or extend the lease for or more years. These options are considered in the determination of the estimated lease term when it is reasonably certain that an option will be exercised. Our leases do not contain any material residual value guarantees or material restrictive covenants. Most of our leases do not provide an implicit rate; therefore, we use our incremental borrowing rate based on information available at the lease commencement date to determine the present value of the future lease payments. Certain of our leases include variable costs. Variable costs include non-lease components that are incurred based upon actual terms, rather than contractually fixed amounts. In addition, variable costs are incurred for lease payments that are indexed to a change in rate or index. Because the right-of-use ("ROU") assets recorded on the balance sheet are determined based upon factors considered at the lease commencement date, subsequent changes in the rate or index that were not contemplated in the ROU asset balances at lease commencement result in variable expenses being recorded when these expenses are incurred during the lease term. See Note 11. Recent Accounting Pronouncements Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") No. 2023-07, "Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures." This ASU expands upon existing reportable segment disclosure requirements by requiring the disclosure of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included within each reported measure of a segment's profit or loss, as well as conforming interim period disclosures with annual period disclosures. This ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. The ASU is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Adoption of the ASU should be applied retrospectively to all prior periods presented in the financial statements. Early adoption is also permitted. Upon adoption, this ASU is expected to result in the inclusion of additional segment-related disclosures in the footnotes to our consolidated financial statements. We are evaluating the provisions of this ASU and currently expect to adopt the new annual disclosure requirements as of the fourth quarter of our fiscal year ending December 31, 2024. In December 2023, the FASB issued ASU No. 2023-09, "Income Taxes (Topic 740) - Improvements to Income Tax Disclosures." The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation, as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. Upon adoption, this ASU is expected to result in the inclusion of additional tax-related disclosures in the footnotes to our consolidated financial statements. Recently Adopted Accounting Standards In October 2021, the Financial Accounting Standard Board ("FASB") issued ASU 2021-08, "Business Combinations (Topic 805) - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers", which amends ASC 805 to add contract assets and contract liabilities to the list of exceptions to the recognition and measurement principles that apply to business combinations and to “require that an entity (acquirer) recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC 606.” While primarily related to contract assets and contract liabilities that were accounted for by the acquiree in accordance with ASC 606, “the amendments also apply to contract assets and contract liabilities from other contracts to which the provisions of ASC 606 apply, such as contract liabilities from the sale of nonfinancial assets within the scope of Subtopic 610-20.” For public business entities, the amendments in this ASU became effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption of the amendments was permitted. The Company early adopted this standard in the first quarter of 2022, and it did not have an impact on its results of operations, cash flows or financial position. In August 2020, the FASB issued ASU 2020-06, "Debt - Debt with Conversion and Other Options (Subtopic 470-20)," and "Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40)," which simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible instruments. This guidance also eliminates the treasury stock method to calculate diluted earnings per share for convertible instruments and requires the use of the if-converted method. For public companies, this guidance became effective for fiscal years beginning after December 15, 2021 and interim periods within those fiscal years. Early adoption was permitted. The Company early adopted the standard as of January 1, 2021 and applied this guidance to the convertible senior notes issued in November 2021. See Note 14. In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes,” which simplifies the accounting for income taxes by eliminating some exceptions to the general approach in ASC 740, "Income Taxes." It also clarifies certain aspects of the existing guidance to promote more consistent application. This standard became effective for calendar-year public business entities in 2021 and interim periods within that year, and early adoption was permitted. The Company adopted this guidance during the first quarter of 2021. The implementation did not have a material effect on our financial position, results of operations or cash flows. No other new accounting pronouncements issued or effective during the periods reflected in our statements of operations have had or are expected to have a significant impact on our consolidated financial statements.
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| Acquisitions | (3) Acquisitions Wematter On July 1, 2023, the Company completed the acquisition of Wematter AB (“Wematter”), a Swedish 3D printer manufacturer that will broaden 3D Systems’ Selective Laser Sintering (SLS) portfolio. The acquisition resulted in the Company acquiring 100% of the outstanding voting interest of Wematter. Consideration for this acquisition consisted of approximately $10,224 in cash, subject to customary post-closing adjustments. The Company also may be required to pay an additional €2,000 in cash, contingent upon the achievement of certain post-closing performance conditions and the continued employment of certain key Wematter employees for two years after the closing date of the acquisition. This €2,000 is required to be recognized as compensation expense over the key employees required service period if deemed probable of being earned. As of December 31, 2023, management does not believe that achievement of the post-closing performance conditions is probable. Finally, the Company incurred $866 of acquisition-related expenses during the year ended December 31, 2023, which are reported in selling, general and administrative expenses in our consolidated statement of operations. Wematter's reported results are included in our Industrial Solutions segment and reporting unit. In a separate transaction, the Company had extended a loan to Wematter during the three months ended June 30, 2023. We determined that this loan, representing a preexisting contractual relationship, was effectively settled upon the close of the acquisition of Wematter. No gain or loss was recognized in connection with the effective settlement, as the carrying value of the loan was not materially different from the pricing of similar current market transactions. The effective settlement of this loan receivable results in an increase of $942 to the consideration transferred in connection with this transaction (i.e., above the cash consideration paid) and a corresponding increase to goodwill. We accounted for the acquisition of Wematter using the acquisition method, as prescribed by ASC 805, “Business Combinations” (“ASC 805”). In accordance with valuation methodologies described in ASC 820, “Fair Value Measurement” (“ASC 820”), the acquired assets and assumed liabilities were recorded at their estimated fair values as of the date of the Wematter acquisition. Shown below is the final purchase price allocation, which summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition:
The goodwill recognized is attributable to synergies that are expected to enhance and expand the Company’s overall product portfolio and opportunities in new and existing markets, future products that have yet to be determined and Wematter’s assembled workforce. This goodwill will not be deductible for tax purposes. The following table presents the finite-lived intangible assets acquired and their respective estimated useful lives:
During the three months ended December 31, 2023, the Company updated its preliminary valuation of the acquisition-date fair values of acquired assets and assumed liabilities. As a result of incremental valuation procedures performed, the preliminary acquisition-date fair value that previously had been assigned to the acquired product technology intangible asset increased by $349. This increase in fair value was offset by a corresponding decrease in the acquisition-date fair value of goodwill. The purchase price allocation and the estimated useful lives of intangible assets are final as of December 31, 2023. The post-acquisition revenue of Wematter reported in our consolidated statement of operations for the year ended December 31, 2023 is $72. The post-acquisition loss of Wematter reported in our consolidated statement of operations for the year ended December 31, 2023 is $8,435, which includes the impact of the allocation of $6,398 of the total Industrial Solutions goodwill impairment charge of $279,808 (Refer Note 9) to the Wematter legal entity. Unaudited Pro Forma Financial Information The following unaudited pro forma financial information summarizes the combined results of the Company and Wematter as if the acquisition had occurred on January 1, 2022. The pro forma results have been prepared for comparative purposes only, and do not necessarily represent what the results of operations would have been had the acquisition been completed on January 1, 2022. In addition, these pro forma results are not intended to be a projection of future operating results and do not reflect synergies that might be achieved. The unaudited pro forma financial information includes adjustments for the pro forma impact of our preliminary purchase price allocation, including the amortization of newly acquired intangible assets; the impact of transaction costs; and the alignment of accounting policies. Transaction costs have been included in the pro forma results for the period ended December 31, 2022, consistent with the pro forma assumption that the acquisition occurred on January 1, 2022. Pro forma revenue information has not been presented, as pre-acquisition revenue reported by Wematter was not material and, accordingly, the impact on our reported consolidated revenue also would not have been material.
dp polar On October 4, 2022, we completed the acquisition of 100% of dp polar GmbH (“dp polar”), a German-based designer and manufacturer of a manufacturing system designed for high-speed mass production of customized components, for $25,866 (including customary post-closing adjustments), which includes $19,604 paid in cash at closing, $7,091 paid at closing via the issuance of the Company’s common stock, and an $829 estimated post-closing purchase price adjustment due to the Company from the sellers. In addition, the Company incurred $165 of acquisition-related expenses during the year ended December 31, 2022, which are reported in selling, general and administrative expenses in our consolidated statements of operations. See Note 17 for the discussion of an earnout arrangement with a key individual from dp polar. The Company acquired dp polar for access to dp polar's patented continuous printing process. Central to dp polar’s patented continuous printing process is a large-scale, segmented, rotating print platform that eliminates the start/stop operations of virtually all additive manufacturing platforms. With dp polar’s technology and patented polar coordinate control, the print heads remain stationary above the rotating platform, providing a continuous print process. We accounted for the acquisition of dp polar using the acquisition method, as prescribed by ASC 805. In accordance with valuation methodologies described in ASC 820, the acquired assets and assumed liabilities were recorded at their estimated fair values as of the date of the dp polar acquisition. Shown below is the final purchase price allocation, which summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition:
The goodwill recognized was attributable to synergies which were expected to enhance and expand the Company’s overall product portfolio and opportunities in new and existing markets, future products that have yet to be determined and dp polar’s assembled workforce. This goodwill will not be deductible for tax purposes. Kumovis On April 1, 2022, we completed the acquisition of 93.75% of Kumovis GmbH ("Kumovis") for an all-cash purchase price of $37,875, plus an estimated fair value of RNCI of $1,559. $3,628 of the cash payment was deferred for up to fifteen months from the closing date and was paid in July 2023. Kumovis, which is part of the Healthcare Solutions segment and reporting unit, utilizes polyether ether keton or “PEEK” materials, which has properties that lend it to many medical applications that fit into our personalized healthcare solutions operations, including many implant applications. The Company incurred $126 of acquisition-related expenses during the year ended December 31, 2022, which are reported in selling, general and administrative expenses in our consolidated statements of operations. In conjunction with the Kumovis acquisition, the Company and the non-controlling shareholders entered into a put/call option agreement, whereby, at a later date, the Company has the option to purchase from the non-controlling shareholders, and the non-controlling shareholders have the option to sell to the Company, the remaining 6.25% ownership interest in Kumovis for an exercise price calculated based on the achievement of pre-determined revenue and gross profit targets. Fifty percent of the Kumovis common shares related to the put/call can be exercised upon the achievement of an initial revenue and gross profit target, while the remaining 50% can be exercised upon the achievement of a second revenue and gross profit target. If one or both sets of targets have not been met within 5.75 years from the acquisition date, there is a floor strike price that must be exercised. Up to 50% of the exercise price can be paid in Company common stock at the election of 3D Systems. This arrangement results in the recognition of RNCI, for which an estimated fair value of $1,559 was recorded as of the acquisition date. We accounted for the acquisition of Kumovis using the acquisition method, as prescribed by ASC 805. In accordance with valuation methodologies described in ASC 820, the acquired assets and assumed liabilities were recorded at their estimated fair values as of the date of the Kumovis acquisition. The table below reflects the fair value of both the consideration transferred and the RNCI attributable to this acquisition.
Shown below is the final purchase price allocation, which summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition:
The goodwill recognized is attributable to synergies which are expected to enhance and expand the Company’s overall product portfolio and opportunities in new and existing markets, future products that have yet to be determined and Kumovis’s assembled workforce. This goodwill will not be deductible for tax purposes. Titan On April 1, 2022, we completed the acquisition of 100% of Titan Additive LLC ("Titan") for an all-cash purchase price of $39,040. Titan, which is part of the Industrial Solutions segment and reporting unit, is a pellet-based extrusion platform that addresses customer applications requiring large build volumes, superior performance, and improved productivity at significantly lower cost. We believe the acquisition of Titan will open up new markets in the Industrial Solutions segment and reporting unit. The Company incurred $612 of acquisition-related expenses during the year ended December 31, 2022, which are reported in selling, general and administrative expenses in the consolidated statements of operations. We accounted for the acquisition of Titan using the acquisition method, as prescribed by ASC 805. In accordance with valuation methodologies described in ASC 820, the acquired assets and assumed liabilities were recorded at their estimated fair values as of the date of the Titan acquisition. Shown below is the final purchase price allocation, which summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition:
The goodwill recognized is attributable to synergies which are expected to enhance and expand the Company’s overall product portfolio and opportunities in new and existing markets, future products that have yet to be determined and Titan’s assembled workforce. This goodwill is deductible for tax purposes. Volumetric On December 1, 2021, we acquired Volumetric Biotechnologies, Inc. (“Volumetric”) for $40,173, of which $24,814 was paid in cash, and the remainder was paid via the issuance of 720 shares of the Company's common stock having a fair value on the date of issuance of $15,359. We also incurred approximately $1,306 of acquisition-related expenses during the year ended December 31, 2021, which are reported in selling, general and administrative expenses in our consolidated statements of operations. Additional payments of up to $355,000 are possible upon (1) the attainment of seven non-financial milestones, each of which requires achievement prior to either December 31, 2030 or December 31, 2035, and (2) the continued employment of certain key individuals from Volumetric. Any additional payments made will be paid approximately half in cash and half in shares of the Company’s common stock. The additional payments are considered compensation expense, which will be recorded ratably from the time a milestone is deemed probable of achievement through the estimated timing of achievement. Any compensation expense recorded will be reversed if a milestone is no longer deemed probable of achievement. Refer to Note 17 for additional details regarding amounts related to these milestone payments that have been reported in our consolidated financial statements. Volumetric’s mission is to develop the ability to manufacture human organs using bioprinting methods and the underlying technologies required to create these highly complex biological structures. With this acquisition, 3D Systems seeks to expand our capabilities and capacity in 3D printing related to bio-printing and regenerative medicine. Combining 3D Systems' regenerative medicine group with Volumetric’s highly complementary skill sets of biological expertise and cellular engineering is expected to accelerate our core regenerative medicine strategies, which include the bio-printing of human organs, additional non-organ applications and bio-printing technologies for research labs. We accounted for the acquisition of Volumetric using the acquisition method, as prescribed by ASC 805. In accordance with valuation methodologies described in ASC 820, the acquired assets and assumed liabilities were recorded at their estimated fair values as of the date of acquisition. Shown below is the final purchase price allocation, which summarizes the fair values of the acquired assets and liabilities assumed at the date of acquisition:
The goodwill recognized is attributable to synergies which are expected to enhance and expand the Company’s overall product portfolio and opportunities in new and existing markets, future products that have yet to be determined and Volumetric’s assembled workforce. Goodwill will not be deductible for tax purposes. Volumetric is part of the Healthcare Solutions reporting unit and segment. Oqton On November 1, 2021, we acquired Oqton, Inc. (“Oqton”) for $187,775, of which $107,078 was paid in cash, and the remainder was paid via the issuance of 2,553 shares of the Company’s common stock having a fair value at the date of issuance of $80,697. We also incurred approximately $1,780 of acquisition related expenses during the year ended December 31, 2021, which are reported in selling, general and administrative expenses in our consolidated statements of operations. Oqton is a software company that creates an intelligent, cloud-based Manufacturing Operating System ("MOS") platform tailored for flexible production environments that increasingly utilize a range of advanced manufacturing and automation technologies, including additive manufacturing solutions, in their production workflows. The cloud-based solution leverages the Industrial Internet of Things, artificial intelligence, and machine learning technologies to deliver a solution for customers to automate their digital manufacturing workflows, scale their operations and enhance their competitive position. We accounted for the acquisition of Oqton using the acquisition method, as prescribed by ASC 805. In accordance with valuation methodologies described in ASC 820, the acquired assets and assumed liabilities were recorded at their estimated fair values as of the date of the acquisition. Shown below is the final purchase price allocation, which summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition:
The goodwill recognized is attributable to synergies which are expected to enhance and expand the Company’s overall product portfolio and opportunities in new and existing markets, future products that have yet to be determined and Oqton’s assembled workforce. This Goodwill is not deductible for tax purposes. Oqton's operating results are reported in the Industrial Solutions segment and reporting unit. Other In May 2021, we purchased Allevi, Inc. ("Allevi") to expand regenerative medicine initiatives into medical and pharmaceutical R&D laboratories. Additionally, in June 2021, we closed the acquisition of a German software firm, Additive Works GmbH (“Additive”). Additive expands the simulation capabilities for rapid optimization of industrial-scale 3D printing processes. The purchase price for both acquisitions, individually and combined, as well as the impacts to the Company’s financial position, results of operations and cash flows, are not material. Acquisitions of Non-controlling Interests As of December 31, 2018, the Company owned approximately 70% of the capital and voting rights of Easyway, a service bureau and distributor of 3D printing and scanning products in China. The remaining 30% of the capital and voting rights of Easyway were acquired on January 21, 2019 for $13,500, which has been paid in installments. The Company made the final installment payment of $2,300 related to the acquisition of the remaining 30% interest in Easyway during 2022.
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| Discontinued Operations and Disposal Groups [Abstract] | |
| Divestitures | (4) Divestitures ODM In September 2021, we completed the sale of the Company’s On Demand Manufacturing business ("ODM") for $82,000, excluding certain customary closing adjustments. We recorded a gain on the sale of $38,490 within interest and other income (expense), net on the accompanying consolidated statement of operations for the year ended December 31, 2021. ODM was primarily included within the Industrial Solutions segment. At closing, the Company and the purchaser entered into a supply agreement and a transition services agreement, pursuant to which the Company agreed to provide certain information technology, corporate finance, tax, treasury, accounting, human resources and payroll, sales and marketing, operations, facilities and other customary services to support the purchaser in the ongoing operation of ODM for a period of time post-closing. At December 31, 2023 only the supply agreement was active. Simbionix On August 24, 2021, we completed the sale of 100% of the issued and outstanding equity interests of Simbionix USA Corporation, which owned our global medical simulation business, for $305,000, excluding certain closing adjustments and excluding $6,794 of cash transferred to the purchaser. We recorded a gain on the sale of $271,404 within on the accompanying consolidated statement of operations for the year ended December 31, 2021. Additionally, we recognized a gain of $2,431 upon the reclassification of accumulated foreign currency translation gains previously included in accumulated other comprehensive loss (“AOCL”), which is included within interest and other income (expense), net for the year ended December 31, 2021. Simbionix was included within the Healthcare Solutions segment. Cimatron On January 1, 2021, we completed the sale of 100% of the issued and outstanding equity interests of Cimatron Ltd. (“Cimatron”), the subsidiary that operated the Company’s Cimatron integrated CAD/CAM software for tooling business and its GibbsCAM CNC programming software business, for approximately $64,173, after certain adjustments and excluding $9,476 of cash transferred to the purchaser. We recorded a gain on the sale of $32,047 within interest and other income (expense), net on the accompanying consolidated statement of operations for the year ended December 31, 2021. Additionally, at the time of the sale, we recognized a gain of $6,481 upon the reclassification of accumulated foreign currency translation gains previously included in AOCL, which is included within interest and other income (expense), net for the year ended December 31, 2021. Cimatron was included within the Industrial Solutions segment.
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| Revenue | (5) Revenue Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account as defined in ASC 606. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. At December 31, 2023, we had $97,823 of unrecognized revenue comprised of deferred revenue, customer order backlog and customer deposits. This $97,823 related to outstanding performance obligations excludes variable consideration totaling $46,000 which will not be included in contract transaction price for purposes of revenue recognition until management is able to conclude that it is probable that the inclusion of such amounts will not result in a subsequent significant reversal of the cumulative amount of revenue recognized. We expect to recognize approximately 93% of the $40,075 of deferred revenue and customer deposits as revenue within the next twelve months, and an additional 5% by the end of 2025 and the remaining balance thereafter. Revenue Recognition Revenue is recognized when control of the promised products or services is transferred to customers. Revenue is recognized in an amount that reflects the consideration we expect to receive in exchange for those products or services. We enter into contracts that can include various combinations of products and services, which are generally capable of being distinct and, accordingly, are accounted for as separate performance obligations. For such arrangements, we allocate revenue to each performance obligation based upon its relative stand-alone selling price (“SSP”). Revenue is recognized net of allowances for returns and any taxes collected from customers that are subsequently remitted to governmental authorities. The amount of consideration received and revenue recognized may vary based on changes in marketing incentive programs offered to our customers. Our marketing incentive programs take many forms, including volume discounts, trade-in allowances, rebates and other discounts. A majority of our revenue is recognized at the point in time when products are shipped or services are delivered to customers. Hardware and Materials Revenue from hardware and material sales is recognized when control has transferred to the customer, which generally occurs when the goods have been shipped or delivered to the customer, risk of loss has transferred to the customer, and we have a present right to payment. In limited circumstances, when printer or other hardware sales include substantive customer acceptance provisions, revenue is recognized either when customer acceptance has been obtained, customer acceptance provisions have lapsed, or we have objective evidence that the criteria specified in the customer acceptance provisions have been satisfied. Printers and certain other products include a warranty under which we provide maintenance for periods up to one year. For these initial product warranties, estimated costs are accrued at the time of the sale of the product. These cost estimates are established using historical information regarding the nature, frequency and average cost of claims for each type of printer or other product, as well as assumptions about future activity and events. Revisions to expense accruals are made as necessary based on changes in these historical and future factors. Software We also market and sell software tools that enable our customers to capture and customize content using our printers, design optimization and simulation software, and reverse engineering and inspection software. Our software does not require significant modification or customization, and the license provides the customer with a right to use the software as it exists when made available. Revenue from these software licenses is recognized either upon delivery of the product or of a key code which allows the customer to download the software. Customers may purchase post-sale support. Generally, the first year of support is included, but subsequent years are optional. This optional support is considered a separate obligation from the software. Accordingly, revenue is deferred at the time of sale and subsequently recognized ratably over future periods. Services We offer training, installation and non-contract maintenance services for our products. Additionally, we offer maintenance contracts customers can purchase at their option. For maintenance contracts, revenue is deferred at the time of sale based on the stand-alone selling prices of these services. Deferred revenue is recognized ratably over the term of the maintenance period on a straight-line basis and costs are expensed as incurred. Revenue from training, installation and non-contract maintenance services is recognized at the time of performance of the service. We also sell software as a service, whereby the customer has the right to access the software. Revenue is recognized ratably over the related subscription period, as our performance obligation to provide access to the software is progressively fulfilled over the stated term of the contract. On demand manufacturing and Healthcare Solutions service sales are included within services revenue, and revenue is recognized upon shipment or delivery of the parts or performance of the service, based on the terms of the arrangement. We disposed of the majority of our service revenue businesses including Cimatron, Simbionix, and ODM, which were minimally offset by the purchase of Oqton. See Note 3 and Note 4. Collaboration and Licensing Agreements We enter into collaboration and licensing agreements with third parties. The nature of the activities to be performed and the consideration exchanged under the agreements varies on a contract-by-contract basis. We evaluate these agreements to determine whether they meet the definition of a customer relationship for which revenue is recorded. These contracts may contain multiple performance obligations and may contain fees for licensing, R&D services, contingent milestone payments upon the achievement of contractual developmental criteria and/or royalty fees based on the licensees’ product revenue. We determine the revenue to be recognized for these agreements based on an evaluation of the distinct performance obligations; the identification and evaluation of material rights; the estimation of the amount of variable consideration to be included in transaction price, as well as the timing for the inclusion of such variable consideration; and the amount of transaction price assigned to and the pattern of transfer of control for each distinct performance obligation. This typically results in the recognition of revenue over time using a cost-to-cost percentage of completion model to measure the progress of the transfer of control. The Company recognized $17,040, $13,497, and $6,804 in revenue related to collaboration arrangements with customers for the years ended December 31, 2023, 2022, and 2021, respectively. The Company recognized $14,095, $11,063, and $5,888 in products cost of sales related to the collaboration arrangements with customers for the years ended December 31, 2023, 2022, and 2021, respectively. The majority of our collaboration arrangement revenue and related costs of sales relates to R&D being performed under a single regenerative medicine contract. Our revenue recognized under collaboration and licensing agreements for year ended December 31, 2023 includes the effect of the Company increasing its estimate of the variable consideration included in the transaction price related to one of its licensing agreements. The increase in estimated recognizable variable consideration was due to (1) the execution of a modification to the related customer contract and (2) the Company's determination that incremental revenue attributable to milestone payments that are contingent upon the achievement of contractual developmental criteria would be earned under the modified contract. As a result, during the year ended December 31, 2023, the Company recognized a cumulative catch-up adjustment to record incremental services revenue of $4,452, which reduced our reported basic and diluted loss per share by $0.03 and $0.03, respectively, for year ended December 31, 2023. Terms of Sale Shipping and handling activities are treated as fulfillment costs rather than as an additional promised service. We accrue the costs of shipping and handling when the related revenue is recognized. Our incurred costs associated with shipping and handling are included in product cost of sales. Creditworthiness is determined, and credit is extended, based upon an evaluation of each customer’s financial condition. New customers are generally required to complete a credit application and provide references and bank information to facilitate an analysis of creditworthiness. Our terms of sale generally provide payment terms that are customary in the countries where we transact business. To reduce credit risk in connection with certain sales, we may, depending upon the circumstances, require significant deposits or payment in full prior to shipment. For maintenance services, we either bill customers on a time-and-materials basis or sell maintenance contracts that provide for payment in advance on either an annual or other periodic basis. Significant Judgments Allocation of Transaction Price Our contracts with customers often include promises to transfer multiple products and services to a customer. For such arrangements, we allocate revenue to each performance obligation based on its relative SSP. Judgment is required to determine the SSP for each distinct performance obligation in a contract. For the majority of items, we estimate SSP using historical transaction data. We use a range of amounts to estimate SSP when we sell each of the products and services separately and need to determine whether there is a discount to be allocated based on the relative SSP of the various products and services. In instances where SSP is not directly observable, such as when the product or service is not sold separately, we determine the SSP using information that may include market conditions and other observable inputs. In some circumstances, we have more than one SSP for individual products and services due to the stratification of those products and services by customers, geographic region or other factors. In these instances, we may use information such as the size of the customer and geographic region in determining the SSP. The determination of SSP is an ongoing process, and information is reviewed regularly in order to ensure SSP reflects the most current information or trends. Variable Consideration We must assess if and when it is appropriate to include variable consideration when determining transaction price. This assessment, which impacts the timing and the amount of revenue recognized under contracts accounted for in accordance with ASC 606, requires management to conclude that it is probable that a significant reversal of the amount of cumulative revenue recognized with respect to a contract will not occur when the uncertainty associated with the variable consideration is subsequently resolved. The nature of our sales and marketing incentives may lead to consideration that is variable. Judgment is exercised at contract inception to determine the most likely outcome of the contract and resulting transaction price. Ongoing assessments are performed to determine if updates are needed to the original estimates. Contracts Recognized Over Time The Company recognizes the revenue attributable to certain contracts over time using a cost-to-cost percentage of completion model to measure progress. The application of this accounting requires the Company to estimate total costs that will be required to satisfy the related performance obligations. These estimates could change over the term of a contract. Contract Balances The timing of revenue recognition, billings and cash collections results in the recognition of billed accounts receivable and contract assets (including unbilled receivables) and customer deposits and deferred revenue (contract liabilities) on our consolidated balance sheets. Timing of revenue recognition may differ from the timing of invoicing to customers. We record accounts receivable when we have an unconditional right to recognize revenue at the time of invoicing, and unbilled receivables when revenue is recognized prior to invoicing. For most of our contracts, customers are invoiced when products are shipped or when services are performed resulting in billed accounts receivables for the remainder of the owed contract price. Unbilled receivables generally result from circumstances in which items have been shipped, revenue has been recognized, but the customer has not been charged. We also recognize a contract asset upon the recognition of revenue related to certain performance milestones that are deemed probable of achievement, but for which billing has not occurred and receipt of payment is conditioned upon factors other than the passage of time. In our on demand manufacturing business, which was sold in September of 2021, customers may have been required to pay in full before work begins on their orders, resulting in customer deposits. We typically bill in advance for installation, training and maintenance contracts, as well as for extended warranties, resulting in deferred revenue. The increase in the contract assets balance as of December 31, 2023 (see table below) primarily relates to the increase in the estimated variable consideration included in the transaction price related to one of the Company's collaboration and licensing agreements (refer to the discussion above of Collaboration and Licensing Agreements), which has resulted in the recognition of incremental revenue for which the Company has the right to invoice upon achievement of each respective contractual milestone. Changes in contract asset and liability balances were not materially impacted by any other factors for the years ended December 31, 2023 and 2022, respectively. Accounts receivable, contract asset and contract liability balances as of December 31, 2023, 2022 and 2021 were as follows:
(1) Includes amounts reported in Prepaid expenses and other current assets and Other assets on the balance sheet, inclusive of $5,422 as of December 31, 2023 that is related to a long-term contract and is billable upon attainment of milestones. (2) Includes amounts reported in Other liabilities on the balance sheet. During the year ended December 31, 2023, we recognized revenue of $25,980 related to our contract liabilities at December 31, 2022. During the year ended December 31, 2022, we recognized revenue of $31,038 related to our contract liabilities at December 31, 2021. During the year ended December 31, 2021, we recognized revenue of $30,302 related to our contract liabilities at December 31, 2020. Practical Expedients and Exemptions We generally expense sales commissions when incurred because the amortization period would be one year or less. These costs are recorded within selling, general and administrative expenses. Revenue Concentrations For the years ended December 31, 2023, 2022, and 2021, one customer accounted for approximately 15%, 23%, and 22% of our consolidated revenue, respectively, which revenue relates to our Healthcare Solutions segment. We expect to maintain our relationship with this customer. Revenue by geographic region for the years ended December 31, 2023, 2022, and 2021, which is determined based upon the geographic region in which a sale originates, was as follows:
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| Inventory Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Inventories | (6) Inventories Components of inventories at December 31, 2023 and 2022 are summarized as follows:
The inventory reserve was $16,156 and $15,550 as of December 31, 2023 and 2022, respectively. During the year ended December 31, 2023, we notified one of our contract manufacturers of our intent to terminate the existing manufacturing services arrangement and in-source the assembly and production process. The final exit agreement included a $450 exit fee that was expensed during the period. There is an associated commitment to purchase $1,692 of inventory from the assembly manufacturer as of December 31, 2023. During the year ended December 31, 2022, we notified one of our contract manufacturers of our intent to terminate our existing manufacturing services arrangement and in-source the assembly and production process. The final exit agreement included a $1,670 exit fee that was expensed during the period. Exiting this agreement resulted in the purchase of $23,913 of inventory and $369 of fixed assets from the assembly manufacturer.
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| Property and Equipment | (7) Property and Equipment Property and equipment at December 31, 2023 and 2022 are summarized as follows:
a.Leasehold improvements are amortized on a straight-line basis over the shorter of (i) their estimated useful life or (ii) the estimated or contractual life of the related lease. We include all depreciation from assets attributable to the generation of revenue in cost of sales on the consolidated statements of operations. Depreciation related to assets that are not attributable to the generation of revenue is included in the research and development and selling, general and administrative expense line items on the consolidated statements of operations. Depreciation on property and equipment is calculated on a straight-line basis. Depreciation expense on property and equipment for the years ended December 31, 2023, 2022 and 2021 was $21,346, $21,096 and $24,242, respectively. For the years ended December 31, 2023, 2022 and 2021, we recognized impairment charges of $1,354, $18 and $788, respectively, on property and equipment, net in the selling, general and administrative line item on the consolidated statements of operations.
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | (8) Intangible Assets Intangible Assets with Finite Lives At December 31, 2023 and 2022, the Company's intangible assets with finite lives were as follows:
Indefinite-Life Intangible Assets (Excluding Goodwill) As of December 31, 2022, the Company's total intangible assets reported on the consolidated balance sheet included an indefinite-life intangible asset balance of $5,448 related to IPR&D recorded in connection with the October 4, 2022 acquisition of dp polar. During the three months ended December 31, 2023, in connection with both the inability to reach economically favorable contract terms with dp polar's first potential customer and the Company's broader efforts to reduce operating costs (including the restructuring initiatives described in Note 25), the Company decided to cease the development of this IPR&D for the foreseeable future. As the IPR&D is not capable of generating revenue or positive cash flows without further development, the Company recorded a charge of $5,554 within on our consolidated statement of operations for the year ended December 31, 2023 to write off the carrying value of this foreign currency denominated asset as of the date of impairment. Impairment of Intangible Assets with Finite Lives dp polar The Company's decision to cease the development of the dp polar IPR&D (as discussed above) represented a triggering event that required an assessment of whether the carrying value of the broader dp polar asset group was recoverable. dp polar represents an asset group because its identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities within the Company. As dp polar is not capable of generating revenue or positive cash flows without the continued development of its IPR&D, the Company concluded that dp polar's long-lived assets, including the remaining carrying value of the trade name intangible asset recorded when dp polar was acquired, were fully impaired. Accordingly, the Company recorded a charge of $3,828 within impairments of goodwill and intangible assets on our consolidated statement of operations for the year ended December 31, 2023 to write-off dp polar's trade name. Oqton MOS During the three months ended September 30, 2023, the Company concluded that it is more likely than not that the Company will sell or otherwise dispose of Oqton MOS, a business which the Company acquired in 2021. Oqton MOS represents an asset group within the Industrial Solutions segment, as its identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities within the segment. Based upon the Company's expectation that it will sell or otherwise dispose of Oqton MOS, the long-term cash flow forecast for this asset group was revised as of September 30, 2023. The revised long-term cash flow forecast indicated that the carrying amounts of Oqton MOS's long-lived assets, consisting primarily of product technology and trade name intangible assets initially recorded when Oqton MOS was acquired, may not be recoverable. Accordingly, the carrying value of Oqton MOS's long-lived assets (i.e., the asset group) was tested for impairment based upon an estimate of the associated discounted future cash flows. This fair value measurement approach required the use of Level 3 fair value measurement inputs, as defined in Note 24. As the present value of the estimated future cash flows expected to result from the remaining use and eventual disposition of the asset group was less than the carrying value of the asset group as of September 30, 2023 when this impairment test was performed, the Company recognized intangible asset impairment charges totaling $13,597 related to the acquired technology and trade names included in the Oqton MOS asset group, which amount has been reported within on our consolidated statement of operations for the year ended December 31, 2023. The use of forecasted cash flows for purposes of this impairment test represents the application of Level 3 fair value measurement inputs, as defined in Note 24. As of December 31, 2023, the Company was still evaluating the strategic alternatives available for the sale, disposal or exit of Oqton MOS. Accordingly, the assets and liabilities of this business continue to be classified as held and used as of December 31, 2023. Refer to Note 26 for details regarding the sale of Oqton Dental in May 2024. Amortization of Intangible Assets with Finite Lives Amortization expense related to our intangible assets with finite lives was $12,067, $15,480 and $10,469 for the years ended December 31, 2023, 2022 and 2021, respectively. Amortization expense is estimated to be $8,129 in 2024, $8,107 in 2025, $7,530 in 2026, $6,786 in 2027, and $6,298 in 2028.
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Goodwill |
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | (9) Goodwill The following table reflects the changes in the carrying amount of goodwill by reporting unit for the year ended December 31, 2023:
The effect of foreign currency exchange in the table above reflects the impact on goodwill of amounts recorded in currencies other than the U.S. dollar on the financial statements of foreign subsidiaries and the resulting effect of foreign currency translation between the applicable functional currency and the U.S. dollar. Goodwill Impairment For purposes of our annual goodwill impairment test, our reporting units are Healthcare Solutions and Industrial Solutions. For the years ended December 31, 2023 and December 31, 2022, we completed the required annual goodwill impairment tests for each of our reporting units as of November 1, 2023 and November 30, 2022, respectively, as further discussed in Note 2. The goodwill impairment tests performed as of each testing date compared the fair value of each of our reporting units to its carrying value. We estimated the fair value of each reporting unit based upon projections of future revenues, expenses, and cash flows discounted to their present value. The use of forecasted cash flows for purposes of the annual goodwill impairment test represents the application of Level 3 fair value measurement inputs, as defined in Note 24. As a result of our goodwill impairment test performed as of November 1, 2023, we determined that the carrying value of our Industrial Solutions reporting unit exceeded its fair value by an amount that was in excess of the goodwill assigned to the Industrial Solutions reporting unit. This result of our impairment test is primarily attributable to (1) the significant and sustained decline in the trading price of our common stock and our market capitalization leading up to and as of November 1, 2023 and (2) the significantly higher carrying value (including the goodwill balance) of the Industrial Solutions reporting unit, as compared to the Healthcare Solutions reporting unit. Consistent with the result of our annual goodwill impairment test, we recognized a goodwill impairment charge of $279,808 to write off the entire goodwill balance assigned to the Industrial Solutions reporting unit. This goodwill charge is reported within impairments of goodwill and intangible assets on our consolidated statement of operations for the year ended December 31, 2023. The estimated fair value of our Healthcare Solutions reporting unit was in excess of its carrying value as of November 1, 2023 and November 30, 2022, and the estimated fair value of our Industrial Solutions reporting unit was in excess of its carrying value as of November 30, 2022.
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Investments and Note Receivable |
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| Equity Method Investments and Joint Ventures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments and Note Receivable | (10) Investments and Note Receivable The Company holds various investments in equity and debt instruments that are included in other assets on our consolidated balance sheets. The following table summarizes our investment balances as of December 31, 2023 and December 31, 2022:
(1) Reflects warrant investment carried at fair value. The fair value of these warrants is measured using Level 3 fair value measurement inputs. Refer to Note 24 for a description of these inputs. (2) Includes interest amounts that have been accrued on, recorded to and reported as part of the notes receivable balances. Equity Investments under the Equity Method of Accounting National Additive Manufacturing Innovation ("NAMI") Joint Venture In March 2022, we and the Saudi Arabian Industrial Investments Company ("Dussur") signed an agreement to form a joint venture intended to expand the use of additive manufacturing within the Kingdom of Saudi Arabia and surrounding geographies, including the Middle East and North Africa. The joint venture is to enable the development of Saudi Arabia’s domestic additive manufacturing production capabilities, consistent with the Kingdom’s ‘Vision 2030,’ which is focused on diversification of the economy and long-term sustainability. 3D Systems had committed to an initial investment in the joint venture of approximately $6,500, of which $3,435 had been deposited into an escrow account as of December 31, 2022 and, accordingly, was reported as restricted cash within other assets on the December 31, 2022 consolidated balance sheet. In February 2023, the Company officially became a shareholder in the joint venture, resulting in the Company holding a 49% ownership interest. During April 2023, the $3,435 held in escrow, as well as the additional amount of approximately $3,065 owed to the joint venture, was deposited into a bank account of the joint venture for use in its operations. The impact of this investment in NAMI on the Company’s future financial condition and cash flows is expected to be limited to the cash outflow(s) related to any future investments, if required. Additional future investments in the joint venture are contingent upon the achievement of certain milestones or separate agreement by the parties to the joint venture to invest additional capital. Refer to Note 26 for details regarding the Company's incremental investment in NAMI subsequent to December 31, 2023. As of December 31, 2023, the Company continues to own 49% of the joint venture's common stock, and the joint venture is an unconsolidated VIE as disclosed in Note 2. The Company accounts for the joint venture under the equity method of accounting, which requires the Company to recognize its proportionate share of the joint venture's reported net income or loss. For the year ended December 31, 2023, the Company has recorded and separately reported a loss on equity method investment in the consolidated statements of operations. In addition, the Company's reported revenue and cost of sales for the year ended December 31, 2023 included related party revenue and associated related party cost of sales of $1,743 and $996, respectively, attributable to sales to NAMI. As of December 31, 2023, the outstanding related party receivable balance attributable to our sales to NAMI was $1,092. Equity Investments without Readily Determinable Fair Values Theradaptive In June 2023, we made an $8,000 investment in Theradaptive, Inc. ("Theradaptive"), via the purchase of Series A Preferred Stock, pursuant to which we hold an approximate 9.15%, or 8.25% fully-diluted, ownership interest in Theradaptive. Theradaptive, which is an unconsolidated VIE as disclosed in Note 2, is currently developing a protein that encourages bone growth. This biotechnology could be applied to 3D printed metal splints for patients who otherwise may require amputation of a limb because the lost bone is too vast to replace with a splint. The Company has accounted for its investment in Theradaptive on a cost basis, subject to assessment for impairment, as (1) the fair value of Theradaptive's equity is not readily determinable and (2) the investment is not subject to the equity method of accounting due to the Company's lack of significant influence. The investment in Theradaptive is not expected to materially impact our future financial position, results of operations, or cash flows. No impairment charges were recognized with respect to this investment during the year ended December 31, 2023. Enhatch In March 2022, we made a $10,000 investment in convertible preferred shares for an approximate 26.6% ownership interest in Enhatch Inc. (“Enhatch”), the developer of the Intelligent Surgery Ecosystem. We simultaneously entered into a supply agreement with Enhatch. We also obtained warrants to purchase additional shares of Enhatch, as well as the right to purchase in the future (“call option”) the remaining shares of Enhatch that 3D Systems does not own if certain revenue targets are achieved. As of the original investment date, the fair values of the convertible preferred shares, inclusive of the embedded call option, and warrants were bifurcated and were $9,670 and $330, respectively. The investment, including the embedded call option and the warrants, is recorded in other assets on the consolidated balance sheets. Enhatch’s Intelligent Surgery Ecosystem provides technologies which streamline and scale the design and delivery of patient-specific medical devices by automating the process. Incorporating these capabilities into 3D Systems’ workflow for patient-specific solutions, which includes advanced software, expert treatment planning services, custom implants and instrumentation design, and industry-leading production processes, will help more efficiently meet the growing demand for personalized medical devices. As of December 31, 2023 and December 31, 2022, the reported carrying value of the Company's convertible preferred stock investment in Enhatch, inclusive of the call option, is $6,900, which reflects the cumulative impact of $2,770 of historical impairment charges that have been recognized since the date of the original investment. These impairment charges were recorded during the year ended December 31, 2022. No impairment charges were recognized with respect to this investment during the year ended December 31, 2023. During the year ended December 31, 2023, the Company made purchases of $182 from Enhatch .
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Leases |
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| Leases | (11) Leases We have various lease agreements for our facilities, equipment and vehicles with remaining lease terms ranging from to fifteen years. During the year ended December 31, 2023, two buildings that were under construction as of December 31, 2022 were completed and became available for use by the Company as leased premises. As a result, these leases were deemed to have commenced during the period. Components of lease cost (income) for the years ended December 31, 2023, 2022, and 2021 were as follows:
As of December 31, 2023, our future minimum lease payments under operating leases and finance leases with initial or remaining lease terms in excess of one year were as follows:
Supplemental cash flow information related to our leases for the years ending December 31, 2023, 2022 and 2021 was as follows:
The weighted-average remaining lease term and discount rate for our finance and operating leases as of December 31, 2023 and 2022 were as follows:
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| Leases | (11) Leases We have various lease agreements for our facilities, equipment and vehicles with remaining lease terms ranging from to fifteen years. During the year ended December 31, 2023, two buildings that were under construction as of December 31, 2022 were completed and became available for use by the Company as leased premises. As a result, these leases were deemed to have commenced during the period. Components of lease cost (income) for the years ended December 31, 2023, 2022, and 2021 were as follows:
As of December 31, 2023, our future minimum lease payments under operating leases and finance leases with initial or remaining lease terms in excess of one year were as follows:
Supplemental cash flow information related to our leases for the years ending December 31, 2023, 2022 and 2021 was as follows:
The weighted-average remaining lease term and discount rate for our finance and operating leases as of December 31, 2023 and 2022 were as follows:
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Accrued and Other Liabilities |
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| Payables and Accruals [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accrued and Other Liabilities | (12) Accrued and Other Liabilities at December 31, 2023 and 2022 are summarized as follows:
Changes in the product warranty obligation for the years ended December 31, 2023, 2022 and 2021 are summarized below:
at December 31, 2023 and 2022 are summarized as follows:
The reduction in the earnout liability balance is the result of the reversal of all previously recognized expense attributable to a potential post-acquisition milestone-based payment related to the Company's 2021 acquisition of Volumetric. During the year ended December 31, 2023, the Company reversed the accrued compensation expense related to the potential earnout payment as the related milestone is no longer deemed probable of being achieved. Refer to Note 17 for additional details regarding the earnout arrangement and the financial impact of this milestone-based payment no longer being deemed probable of being paid.
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Borrowings |
12 Months Ended |
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Dec. 31, 2023 | |
| Debt Disclosure [Abstract] | |
| Borrowings | (13) Borrowings Convertible Notes On November 16, 2021, the Company issued $460,000 in aggregate principal amount of 0% Convertible Senior Notes due November 15, 2026 (the “Notes”), pursuant to an Indenture dated November 16, 2021 (the “Indenture”) between the Company and The Bank of New York Mellon, N.A., as trustee. The net proceeds from the offering of the Notes were $446,534 after deducting the initial purchasers’ discounts and commissions and offering expenses payable by the Company in the amount of $13,466. The annual effective interest rate of the Notes is 0.594% when including purchasers' discounts and commissions and offering expenses incurred by the Company. The Notes are senior, unsecured obligations of the Company, will not bear regular interest, and the principal amount of the Notes will not accrete. The Notes will mature on November 15, 2026, unless earlier redeemed, repurchased or converted in accordance with their terms. The Notes will be convertible at the option of the holders at any time prior to the close of business on the business day immediately preceding August 15, 2026, only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on March 31, 2022 (and only during such quarter), if the last reported sale price of the Company’s common stock, par value $0.001 per share (the “Common Stock”), is equal to or greater than 130% of the conversion price for each of at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the “measurement period”) in which the trading price (as defined in the Indenture) per $1 principal amount of Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price per share of the Common Stock and the conversion rate on each such trading day; (3) if the Company calls such Notes for redemption at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date; and (4) upon the occurrence of specified corporate events, including a Fundamental Change (as defined in the Indenture), or distributions of the Common Stock. On or after August 15, 2026, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or any portion of their Notes at any time, at the option of the holder, regardless of the foregoing circumstances. Upon conversion, the Company will pay cash up to the aggregate principal amount of the Notes to be converted and pay or deliver, as the case may be, cash, shares of Common Stock, or a combination of cash and shares of Common Stock, at the Company’s election, in respect of the remainder, if any, of the Company’s conversion obligation in excess of the aggregate principal amount of the Notes being converted. The Notes have an initial conversion rate of 27.8364 shares of Common Stock per $1 principal amount of Notes (which is subject to adjustment in certain circumstances). This is equivalent to an initial conversion price of approximately $35.92 per share. The conversion rate is subject to customary adjustments under certain circumstances in accordance with the terms of the Indenture. Holders of the Notes have the right to require the Company to repurchase for cash all or a portion of their Notes at 100% of their principal amount, plus any accrued and unpaid special interest, upon the occurrence of a Fundamental Change. The Company is also required to increase the conversion rate for holders who convert their Notes in connection with a Fundamental Change or convert their Notes that are called for redemption, as the case may be, prior to the maturity date. The Company may not redeem the Notes prior to November 20, 2024. The Notes are redeemable, in whole or in part, for cash at the Company’s option at any time, and from time to time, on or after November 20, 2024 and before the 41st scheduled trading day immediately preceding the maturity date, but only if the last reported sale price per share of the Common Stock has been at least 130% of the conversion price then in effect for a specified period of time. As of December 31, 2023, none of the circumstances that would permit the holders of the Notes to exercise their conversion option had occurred. The Notes are the Company’s senior unsecured obligations and will rank senior in right of payment to any of the Company’s existing and future indebtedness that is expressly subordinated in right of payment to the Notes; rank equal in right of payment to any of the Company’s future unsecured indebtedness that is not so subordinated; be effectively subordinated in right of payment to any of the Company’s existing and future secured indebtedness to the extent of the value of the collateral securing such indebtedness; and structurally subordinated to all existing and future indebtedness and other liabilities (including trade payables) of current or future subsidiaries of the Company. The Indenture also contains covenants, events of default and other provisions which are customary for offerings of convertible notes. As of December 31, 2023, we were in compliance with all covenants of the Indenture. Subsequent to December 31, 2023, the Company has become non-compliant with certain terms of the Indenture. Refer to Note 26 for additional details. The Company incurred $2,640, $2,652, and $324 of interest expense attributable to debt issuance cost accretion for the years ended December 31, 2023, 2022, and 2021, respectively. In addition, the Company wrote off $2,335 of debt issuance costs in connection with the repurchase of a portion of the Notes in December 2023, as further discussed below. Debt issuance cost accretion of $1,907, $1,917, and $1,690 is expected to be incurred in 2024, 2025 and 2026, respectively. Debt Extinguishment In December 2023, the Company repurchased $135,130 of the Notes for $100,614 including transaction expenses. The repurchased notes were retired upon receipt, and the retirement of the debt obligations was accounted for as an extinguishment of debt. The repurchase of the notes at a discount resulted in the recognition of a gain of $32,181, after transaction expenses and the write-off of related debt issuance costs, which is reported in Interest and other income (expense), net on the Company’s consolidated statement of operations for the year ended December 31, 2023. As of December 31, 2023, there was $324,870 in aggregate principal amount of Notes outstanding and $5,514 of unamortized deferred issuance costs. At December 31, 2023, the estimated fair value of the Notes is $247,307. This is based on the quoted market price where the volume of activity is limited and not active and, thus, this is deemed a Level 2 fair value measurement. Subsequent to December 31, 2023, the Company repurchased $110,492 aggregate principal amount of the Notes from certain holders. Refer to Note 26 for additional details.
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Employee Benefits |
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| Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Employee Benefits | (14) Employee Benefits We sponsor a Section 401(k) plan (the “Plan”) covering substantially all of our eligible U.S. employees. The Plan entitles eligible employees to make contributions to the Plan after meeting certain eligibility requirements. Contributions are limited to the maximum contribution allowances permitted under the Internal Revenue Code. We match 50% of contributions on the first 6% of the participant’s eligible compensation. For the years ended December 31, 2023, 2022 and 2021, we expensed $2,558, $2,254 and $2,039, respectively, for matching contributions related to the Plan. International Retirement Plan We sponsor a non-contributory defined benefit pension plan for certain employees of a non-U.S. subsidiary. We maintain outside of the plan insurance contracts that provide an annuity that is used to fund the current obligations under this plan. The following table provides a reconciliation of the changes in the projected benefit obligation for the years ended December 31, 2023 and 2022:
We recognized the following amounts in the consolidated balance sheets at December 31, 2023 and 2022:
Following are the projected benefit obligation and accumulated benefit obligation at December 31, 2023 and 2022:
The following table shows the components of net periodic benefit costs and the amounts recognized in for the years ended December 31, 2023, 2022 and 2021:
The following assumptions are used to determine the benefit obligations as of December 31, 2023 and 2022:
The following benefit payments, including expected future service cost, are expected to be paid:
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Redeemable Non-controlling Interest |
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| Noncontrolling Interest [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Redeemable Non-controlling Interest | (15) Redeemable Non-controlling Interest Upon consummation of the Company's acquisition of Kumovis, existing shareholders of Kumovis retained a 6.25% ownership interest in Kumovis that the Company reports as RNCI due to put and call terms that could result in the Company redeeming this remaining ownership interest at a future date (see Note 3). The following table shows changes in the reported RNCI balance during the year ended December 31, 2023:
The following table shows changes in the reported RNCI balance during the year ended December 31, 2022:
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Common Stock and Preferred Stock |
12 Months Ended |
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Dec. 31, 2023 | |
| Equity [Abstract] | |
| Common Stock and Preferred Stock | (16) Common Stock and Preferred Stock Common Stock The Company is authorized to issue 220,000 shares of common stock. The holders of the common stock are entitled to one vote for each share held at all meetings of stockholders (and for written actions in lieu of meetings). Dividends may be declared and paid on common stock from funds lawfully available as and when determined by the Board of Directors and subject to any preferential dividend rights of any then outstanding preferred stock. Through the year ended December 31, 2023, no dividends have been declared. Preferred Stock The Company is authorized to issue 5,000 shares of preferred stock, all of which remained unissued at December 31, 2023 and 2022.
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Stock-Based Compensation |
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| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock-Based Compensation | (17) Stock-Based Compensation Stock Incentive Plans 2015 Incentive Plan The Company is authorized to grant shares of restricted stock, restricted stock units (“RSUs”), stock appreciation rights, cash incentive awards and options to purchase shares of common stock to employees and non-employees inclusive of directors pursuant to its 2015 Incentive Plan (the “2015 Plan”). The 2015 Plan also designates that shares may be used for performance-based awards and market-based awards. The vesting period for awards granted under the 2015 Plan is generally determined by the Board of Directors at the date of the grant. Generally, the awards vest one third each year, over 3 years. The total number of shares of common stock reserved and available for distribution under the 2015 Plan and the total number of shares of common stock that can be issued pursuant to stock options is 25,235 shares. Stock-based compensation expense is generally included in selling, general and administrative expenses in the consolidated statements of operations. Systemic Bio Phantom Unit Plan During the year ended December 31, 2023, we granted phantom unit awards ("Phantom Units") under a new compensation plan designed for employees and non-employees performing services for Systemic Bio, a wholly-owned subsidiary of 3D Systems Corporation. All awards granted under the plan are subsidiary-level awards. The Phantom Units granted under the plan include both a time-based vesting condition (generally 4 years, subject to acceleration in connection with specified liquidity events) and a market condition that is met if (1) the value of Systemic Bio exceeds a specified multiple of the capital invested in this subsidiary (the "hurdle") and (2) the business achieves a specified minimum internal rate of return. The market condition will be assessed upon (A) a trigger event (e.g., change-in-control, IPO, or plan expiration of December 31, 2030) and/or (B) an interim liquidity event (defined as January 1, 2028) that occurs prior to a trigger event. All awards granted under the plan are liability-classified due to our intention to settle these awards with cash; although, we have discretion to partially or fully settle these awards in equity upon vesting. Liability classification of the awards requires them to be remeasured at their estimated fair value at the end of each reporting period. Due to the presence of the market-condition and the fact that Systemic Bio does not have a readily available share price, the awards are valued using a Monte Carlo simulation with the assistance of a third-party valuation firm. Other Compensation Arrangements that Include Share Settlement Regenerative Medicine Earnout Payments and Performance-Based Stock Units On December 1, 2021, the Company acquired Volumetric. Pursuant to the terms of the related acquisition agreement, the Company could be required to pay milestone-based payments of up to $355,000 in the aggregate, all of which would be incremental to the acquisition purchase price, upon (1) the achievement of seven discrete non-financial milestones that require attainment prior to either December 31, 2030 or December 31, 2035 and (2) the continued employment of certain key individuals from Volumetric. Each potential milestone-based payment is considered compensation expense, which the Company is required to recognize ratably from the point in time when a milestone is deemed probable of achievement through the estimated date of achievement. Each milestone payment, if earned, will be settled approximately half in cash and half in shares of the Company’s common stock and, accordingly, the portion of the Company’s accrued liability (see Note 12) that would ultimately be settled with the Company’s common stock is reflected in the disclosure of stock-based compensation expense included herein. In addition, the Company has granted performance-based stock units (“PSUs”), with vesting terms that are based upon four individually-measured, non-financial milestones, to other employees who work on advancements in regenerative medicine related to human organs and non-organ human tissue. The PSUs associated with each individual milestone are required to be recognized as compensation expense over the period commencing on the date that the respective milestone is deemed probable of being met through the anticipated date of achievement. Prior to the year ended December 31, 2023, the Company recognized compensation expense related to (1) one Volumetric milestone-based payment, for which the potential amount due to the sellers would be $65,000, and (2) one PSU milestone (“the RegMed Awards”), for which the aggregate grant date fair value of the outstanding and unvested awards was $4,536 as of December 31, 2022, as the related milestone was deemed probable of achievement. During the year ended December 31, 2023, the Company decided to reduce its budgeted funding for the R&D related to the Volumetric and RegMed Award milestones for which compensation expense was previously being recognized, which resulted in the Company concluding that it is no longer probable that the respective milestones would be achieved by the end of the term of the Volumetric earnout arrangement and prior to the expiration of the RegMed Awards. In concluding that the Volumetric and RegMed Award milestones would no longer be achieved, the Company reversed all of the previously accrued compensation expense, a portion of which was to be settled with common stock, which reduced selling, general and administrative expense, as well as the Company's reported loss, by $18,392 for the year ended December 31, 2023. The reversal of such accrued expense reduced our reported net loss per basic and diluted share of common stock by $0.14 for the year ended December 31, 2023. Subsequent to December 31, 2023, events have occurred that have resulted in the Company fully cancelling the former Volumetric Shareholders' eligibility to earn any portion of the $355,000 attributable to the milestone-based payments outlined in the Volumetric acquisition agreement. Refer to Note 26 for additional details. dp polar Earnout On October 4, 2022, the Company acquired dp polar. The acquisition agreement included an earnout arrangement for $2,229 incremental to the acquisition purchase price, which would be settled via the issuance of 250 shares of the Company’s common stock. The issuance and vesting of these shares is contingent on certain service conditions of a key individual from dp polar through December 31, 2024. Management concluded that this potential obligation for the issuance of 250 shares of common stock should be accounted for as compensation expense recognized over the individual's service period and, accordingly, the related expense is reflected in the disclosure of stock-based compensation included herein. In April 2024, due to a change in the key individual's employment arrangement, all service conditions were met based on the terms of the initial earnout. All remaining cost related to the unvested shares was recorded in operating expense in the three months ended June 30, 2024. Stock-Based Compensation Activity and Expense The following table shows the stock-based compensation expense recognized during the years ended December 31, 2023, 2022, and 2021:
Included in the above expenses for the years ended December 31, 2023, 2022, and 2021 are $0, $4,030, and $22,057 of expense, respectively, pertaining to annual incentive compensation which is paid in Company shares of common stock that are vested upon grant. Also, included in the above expenses for the years ended December 31, 2023, 2022, and 2021 are $(8,640), $7,959, and $683, respectively, of expense related to the Volumetric earnout arrangement discussed above and in Note 3. Finally, the above expenses for the years ended December 31, 2023, 2022, and 2021 include $1,015, $268 and $0, respectively, of expense related to the dp polar earnout arrangement discussed above and in Note 3. Restricted Stock and Restricted Stock Units A summary of our restricted stock and RSU activity for the year ended December 31, 2023 is as follows:
Included in the above outstanding balance as of December 31, 2023 are 1,106 shares of restricted stock that vest under specified market conditions and 966 shares of restricted stock that remain subject to specified performance conditions in order to vest. Awards with specified market conditions were awarded to certain employees in 2023, 2022, and 2021. Systemic Bio Phantom Unit Plan During the year ended December 31, 2023, we granted 597 units under the Systemic Bio Phantom Unit Plan, 596 of which remained outstanding as of December 31, 2023. Compensation expense attributable to these awards is being recognized over 40.5 months or 48 months, based upon the recipient. As the awards include graded, time-based vesting and a market condition, compensation expense is being recognized under the graded vesting (accelerated attribution) method. Compensation expense and the associated liability recognized during the year ended December 31, 2023 was $544. Systemic Bio Phantom Units are excluded from the restricted stock and RSU summary table above. At December 31, 2023, there was $41,161 of unrecognized stock-based compensation expense related to all unvested equity awards, which we expect to recognize over a weighted-average period of 1.9 years. Stock Options During the year ended December 31, 2016, we awarded certain employees market condition stock options under the 2015 Plan that vest under specified market conditions. Each employee was generally awarded two equal tranches of market condition stock options that immediately vest when our common stock trades at either $30 or $40 per share for consecutive calendar days. We recognize compensation expense related to stock options on a straight-line basis over the derived term of the awards. The fair value of stock options with market conditions is estimated using a binomial lattice Monte Carlo simulation model. Expense for awards with a market condition is not reversed if the market condition is not met. Stock option activity for the year ended December 31, 2023 was as follows:
As of December 31, 2023 and 2022, none of the 420 outstanding stock options were exercisable, and there was no unrecognized stock-based compensation expense related to stock options.
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| Interest and Other Income (Expense), Net | (18) Interest and Other Income (Expense), Net
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| Income Taxes | (19) Income Taxes The components of our income before income taxes for the years ended December 31, 2023, 2022 and 2021 are as follows:
The components of income tax provision for the years ended December 31, 2023, 2022 and 2021 are as follows:
The overall effective tax rate differs from the statutory federal tax rate for the years ended December 31, 2023, 2022 and 2021 as follows:
The difference between our effective tax rate for 2023, and the federal statutory rate was 20.8 percentage points. The difference in the effective rate is primarily due to the net increase in valuation allowances and non-deductible goodwill impairment charges. The difference between our effective tax rate for 2022, and the federal statutory rate was 22.8 percentage points. The difference in the effective rate is primarily due to valuation allowance changes and non-deductible expenses, including earnout expense and penalties. The difference between our effective tax rate for 2021, and the federal statutory rate was 21.8 percentage points. The difference in the effective rate is primarily due to differences in book and stock bases related to the divestitures of Cimatron and Simbionix, valuation allowance changes, and adjustments to uncertain tax positions, provisions for GILTI, and non-deductible expenses. In 2023, we recorded a full valuation allowance for Wematter and Layerwise, a foreign subsidiary of the Company. In 2022, and 2021, there were no significant changes to our valuation allowance assertions. We continue to review results of operations and forecast estimates to determine if it is more likely than not that the deferred tax assets will be realized. The components of our net deferred income tax assets and net deferred income tax (liabilities) at December 31, 2023 and 2022 are as follows:
At December 31, 2023, $47,875 of our deferred income tax assets was attributable to $347,035 of gross net operating loss carryforwards, which consisted of $80,645 of loss carryforwards for U.S. federal income tax purposes, $166,419 of loss carryforwards for U.S. state income tax purposes and $99,971 of loss carryforwards for foreign income tax purposes. $7,381 of gross net operating loss carryforwards for U.S. federal income tax purposes are acquisition related and are subject to potential measurement period adjustments under ASC 805. The net operating loss carryforwards for U.S. federal income tax purposes do not expire. The net operating loss carryforwards for U.S. state income tax purposes begin to expire in 2023. In addition, certain net loss carryforwards for foreign income tax purposes begin to expire in 2024 and certain other loss carryforwards for foreign purposes do not expire. At December 31, 2023, tax credit carryforwards deferred assets of $25,286 consisted of $15,093 of research and experimentation credit carryforwards for U.S. federal income tax purposes, $3,565 of research and experimentation tax credit carryforwards for U.S. state income tax purposes, and $6,628 of foreign tax credits for U.S. federal income tax purposes. Certain state research and experimentation and other state credits begin to expire in 2023. We have recorded a valuation allowance related to the U.S. federal and state tax credits. Due to the transition tax, our previously unremitted earnings have been subjected to U.S. federal income tax, although, other additional taxes such as, withholding tax, could be applicable. We intend to permanently reinvest our earnings outside the U.S. and as such, have not provided for any additional taxes on approximately $95,352 of unremitted earnings. We believe the unrecognized deferred tax liability related to these earnings is approximately $4,485. Including interest and penalties, we decreased our unrecognized benefits by $271 for the year ended December 31, 2023, and increased our unrecognized tax benefits by $1,733 for the year ended December 31, 2023. The increase was primarily related to the addition of unrecognized tax benefits around current year R&D credits generated. We do not anticipate any additional unrecognized tax benefits during the next 12 months that would result in a material change to our consolidated financial position. The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate is $5,577. We include interest and penalties in the consolidated financial statements as a component of income tax expense.
(1) The unrecognized tax benefit balance as of December 31, 2023, 2022, and 2021 includes $323, $283, and $208 of interest and penalty, respectively. Tax years 2013 through 2021 remain subject to examination by the U.S. Internal Revenue Service (“IRS”). State income tax returns are generally subject to examination for a period of three to four years after filing the respective tax returns. The tax years 2018 through 2022 remain open to examination by the various foreign taxing jurisdictions to which the Company is subject. The following presents the changes in the balance of our deferred income tax asset valuation allowance:
(1) The Other portion of changes to our valuation allowance consists primarily of the impact of acquisitions and changes in foreign currency translation rates.
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| Net Income (Loss) Per Share | (20) Net Income (Loss) Per Share Basic net income (loss) per share is calculated by dividing net income (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.
(1) Equity awards for the years ended December 31, 2023 and 2022 are deemed anti-dilutive because we reported a net loss for these periods. The dilutive impact of equity awards for December 31, 2021 is 2,755 shares, for which the calculation requires certain assumptions regarding assumed proceeds that would hypothetically repurchase common shares upon the conversion and exercise of restricted shares and outstanding stock options, respectively, and an estimate of 712 shares for the payment of accrued incentive compensation that was to be settled in shares. The share estimate is based on the accrued incentive compensation balance at the end of 2021 divided by the 2021 average share price. The following table presents the potentially dilutive shares that were excluded from the computation of diluted income (loss) per share attributable to common stockholders because their effect was considered anti-dilutive for the years ended December 31, 2023, 2022 and 2021, respectively.
For the year ended December 31, 2023, the table above excludes an estimate of 138 shares that are contingently issuable under the dp polar earnout agreement, as discussed in Note 3. As of December 31, 2023, there are no contingently issuable shares related to the Volumetric earnout arrangement discussed in Note 3 or the fiscal year 2023 annual bonus incentive compensation plan. For the year ended December 31, 2022, the table above excludes the following: (1) an estimate of 718 shares contingently issuable upon the achievement of certain milestones in the Volumetric earnout arrangement discussed in Note 3; (2) an estimate of 341 shares for the payment of accrued incentive compensation that was settled in shares during the second quarter of 2023; and (3) an estimate of 22 shares related to the dp polar earnout arrangement discussed in Note 3 that are contingently issuable. These share estimates are based on the expense recognized through December 31, 2022 divided by the 2022 average share price of $12 per share. 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 13. 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 years ended December 31, 2023, 2022, and 2021, the Notes were anti-dilutive on a stand-alone basis because (1) the average share price during these periods did not exceed the conversion price, and (2) we had a net loss for the years ended December 31, 2023 and 2022, respectively.
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Accumulated Other Comprehensive Loss |
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| Stockholders' Equity Note [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accumulated Other Comprehensive Loss | (21) Accumulated Other Comprehensive Loss The changes in the balances of accumulated other comprehensive loss by component are as follows:
a.Amount reclassified into interest and other income (expense), net on the statements of operations. See Note 24 for details regarding fair value measurements and unrealized gains (losses) on short-term investments. The amounts presented in the table above are net of income taxes. Income tax effects of these items are released from accumulated other comprehensive loss contemporaneously with the related gross pretax amount. For additional information about foreign currency translation and derivative financial instruments, see Note 2. For additional information about the defined benefit pension plan, see Note 14.
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Segment Information |
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Information | (22) Segment Information The Company has two reportable segments: Healthcare Solutions and Industrial Solutions. Our reportable segments are based upon the industry verticals that they serve and reflect how we report our financial results to the chief operating decision maker ("CODM"). The CODM does not review disaggregated asset information on the basis of the Company's segments; therefore, such information is not presented. Effective as of January 1, 2023, and for periods subsequent thereto, Adjusted EBITDA reflects the measure of profitability used by the Company’s CODM to evaluate the performance of the Company’s reportable segments. In addition, as of January 1, 2023, the Company's methodology for allocating certain costs between its segments was revised to more closely reflect changes in the Company's business and estimates of the usage of shared resources by the Company's segments. Prior year segment results have been revised to conform with current year presentation in connection with the changes referenced above. Fiscal year 2021 segment results have not been presented as it was determined to be impracticable to restate them on a comparable basis. The following tables set forth our operating results by segment for the years ended December 31, 2023 and 2022:
(1) Corporate and Other is not an operating segment, but reflects expenses not directly attributable to and, accordingly, not allocated to our reportable segments. These expenses relate to corporate functions such as human resources, finance, and legal and include expenses such as salaries, benefits, and other related costs. Similar to the Company's operating segments, Corporate results are reported to and reviewed by the Company’s CODM on the basis of Adjusted EBITDA. The following table provides a reconciliation of the Company’s reported net loss to the total of our reportable segment Adjusted EBITDA and Corporate and Other Adjusted EBITDA for the years ended December 31, 2023 and 2022:
The following table summarizes long-lived assets by geographic region as of December 31, 2023 and 2022:
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Commitments and Contingencies |
12 Months Ended |
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Dec. 31, 2023 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | (23) Commitments and Contingencies We lease certain of our facilities and equipment under non-cancelable operating and finance leases. See Note 11. The Company has certain purchase commitments under agreements with remaining terms in excess of one year, primarily related to printer assemblies, inventory, capital expenditures, and software licenses. As of December 31, 2023, such purchase commitments totaled $14,682, with approximately $8,023 of the purchase obligations expected to come due within the next twelve months. Indemnification In the normal course of business, we periodically enter into agreements to indemnify customers or suppliers against claims of intellectual property infringement made by third parties arising from the use of our products. Historically, costs related to these indemnification provisions have not been significant, and we are unable to estimate the maximum potential impact of these indemnification provisions on our future results of operations. To the extent permitted under Delaware law, we indemnify our directors and officers for certain events or occurrences while the director or officer is, or was, serving at our request in such capacity, subject to limited exceptions. The maximum potential amount of future payments we could be required to make under these indemnification obligations is unlimited; however, we have directors and officers insurance coverage that may enable us to recover future amounts paid, subject to a deductible and the policy limits. There is no assurance that the policy limits will be sufficient to cover all damages, if any. Other Commitments Government Settlement As previously disclosed, beginning in October 2017, the Company undertook an internal investigation relating to possible violations of U.S. export control laws, including the International Traffic in Arms Regulations administered by the Directorate of Defense Trade Controls of the Department of State (“DDTC”) and the Export Administration Regulations administered by the Bureau of Industry and Security of the Department of Commerce (“BIS”). In February 2023, the Company settled these matters with the U.S. Department of Justice (“DOJ”), DDTC and BIS. As a part of these settlement agreements, the Company agreed to pay $15,048 in civil monetary penalties to these agencies, with an additional $10,000 suspended penalty amount to be allocated to remedial compliance measures required by DDTC. The penalty amounts subject to payment were broken down as follows: DDTC, $10,000 (payable in three installments over a three-year period); BIS, $2,778; and DOJ, $2,270. We initially accrued liabilities related to the foregoing matters during the year ended December 31, 2022, which included recording the $10,000 DDTC civil monetary penalty at a discount using the risk-free interest rate in effect at the time of recognition, due to the multiple annual periods over which the $10,000 would be paid. During the year ended December 31, 2023, we paid $8,548 of the liability that had been accrued in accordance with the government settlement agreements. The $10,000 suspended penalty has not been recognized as a liability as of December 31, 2023 and will be recognized as incurred for remedial compliance measures during the three-year term of the settlement agreement. The application of the Company’s spend on remedial compliance measures as a reduction to the original $10,000 suspended penalty must be approved by DDTC, which approval will be sought on an annual basis in accordance with the terms of the settlement agreement. Any portion not expended for compliance measures at the end of the three-year term of the settlement agreement will be paid by the Company to DDTC. As of December 31, 2023, the Company has spent $2,294 related to remedial compliance measures, which DDTC has approved for credit against the $10,000 suspended penalty in accordance with the terms of the related settlement agreement. Subsequent to December 31, 2023, the Company paid $3,500 to DDTC in satisfaction of the second installment of its $10,000 settlement penalty. Refer to Note 26 for additional details Letter of Credit On June 2, 2023, we issued $1,161 of guarantees in the form of a standby letter of credit as security for a long-term real estate lease. The letter of credit had an initial maturity date of June 2024 and includes automatic one-year extensions, which are not to continue beyond July 1, 2033. The first automatic one-year extension occurred in June 2024, and the letter of credit now has a current maturity date of June 2025. We have not recorded any liability for this guarantee, as we believe the likelihood of having to perform under the letter of credit is remote. In connection with this transaction, we pledged an equal amount of cash to the issuing bank of this letter of credit. The cash pledged is recorded as restricted cash and included in other assets on our consolidated balance sheets. Litigation Securities Class Action The Company and certain of its current and former executive officers have been named as defendants in a consolidated putative stockholder class action lawsuit pending in the United States District Court for the Eastern District of New York. The action is styled In re 3D Systems Securities Litigation, No. 1:21-cv-01920-NGG-TAM (E.D.N.Y.) (the “Securities Class Action”). On July 13, 2021, the Court appointed a Lead Plaintiff for the putative class and approved his choice of Lead Counsel. Lead Plaintiff filed his Consolidated Amended Complaint (the “Amended Complaint”) on September 13, 2021, alleging that defendants violated the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and SEC Rule 10b-5 promulgated thereunder by making false and misleading statements and omissions, and that the current and former executive officers named as defendants are control persons under Section 20(a) of the Exchange Act. The Amended Complaint was filed on behalf of stockholders who purchased shares of the Company’s common stock between May 6, 2020 and March 5, 2021, and seeks monetary damages on behalf of the purported class. The defendants moved to dismiss the Amended Complaint on February 15, 2022, and the motion was fully briefed in May 2022. On October 28, 2022, the parties notified the District Court that they reached an agreement in principle resolving this action and, on December 19, 2022, Lead Plaintiff filed a motion seeking entry of an order preliminarily approving the settlement and establishing notice procedures. The District Court held a final fairness hearing on November 21, 2023 and subsequently entered the Order and Final Judgement approving the Securities Class Action settlement and dismissing the Securities Class Action claims with prejudice on January 4, 2024. The time for any party to appeal expired on February 5, 2024, and no appeals were filed. The matter is now concluded. In connection with the resolution of the Securities Class Action, we reached a settlement of $4,000, of which $749 was paid by the Company during the twelve months ended December 31, 2023 and the remaining $3,251 was paid by insurance during the twelve months ended December 31, 2023. Derivative Actions The Company has been named as a nominal defendant and certain of its current and former executive officers and directors have been named as defendants in derivative lawsuits pending in the United States District Court for the Eastern District of New York and the South Carolina Court of Common Pleas for the 16th Circuit, York County, and the Supreme Court of the State of New York, Kings County. The actions are styled Nguyen v. Joshi, et al., No. 21-cv-03389-NGG-TAM (E.D.N.Y.) (the “Nguyen Action”), Lesar v. Graves, et al., No. 2021CP4602308 (S.C., Ct. of Common Pleas for the 16th Judicial Cir., Cty. of York) (the “Lesar Action”), Scanlon v. Graves, et al., No. 2021CP4602312 (S.C., Ct. of Common Pleas for the 16th Judicial Cir., Cty. of York) (the “Scanlon Action”), Bohus v. Joshi, et al., No. 22-cv-2203-CBA-RML (E.D.N.Y.) (the “Bohus Action”), and Fernicola v. Clinton, et. al., No. 512613/2022 (N.Y., Kings County Supreme Court) (the “Fernicola Action”) (together, the "Derivative Actions"). The Complaints in the Nguyen and Bohus Actions, which were filed on June 15, 2021 and April 18, 2022, respectively, assert breach of fiduciary duty claims against all defendants and claims for contribution under the federal securities laws against certain of the defendants. The Complaints in the Lesar and Scanlon Actions, which were filed on July 26, 2021, assert breach of fiduciary duty and unjust enrichment claims against the defendants. The Complaint in the Fernicola Action was filed on May 2, 2022, and asserts claims for breach of fiduciary duty and waste of corporate assets against the director defendants. On August 27, 2021, the Nguyen Action was stayed until 30 days after the earlier of: (i) the close of discovery in the Securities Class Action, or (ii) the deadline for appealing a dismissal of the Securities Class Action with prejudice. On October 26, 2021, the Lesar Action and the Scanlon Action were consolidated into a single stockholder derivative action, styled as In Re 3D Systems Corp. Shareholder Derivative Litigation, No. 2021CP4602308 (S.C., Ct. of Common Pleas for the 16th Judicial Cir., Cty. Of York) (the “South Carolina Derivative Action”). On March 3, 2022, the South Carolina Derivative Action was stayed until 30 days after the earlier of: (i) the close of discovery in the Securities Class Action, or (ii) the deadline for appealing a dismissal of the Securities Class Action with prejudice. On June 16, 2022, the Bohus Action was consolidated with the Nguyen Action (the “E.D.N.Y. Derivative Action”). The E.D.N.Y. Derivative Action was stayed until 30 days after the earlier of: (i) the close of discovery in the Securities Class Action, or (ii) the deadline for appealing a dismissal of the Securities Class Action with prejudice. On August 15, 2022, the Fernicola Action was voluntarily dismissed without prejudice. The deadline for appealing the dismissal of the Securities Class Action expired on February 5, 2024 and no appeals were filed. Accordingly, the discovery stays in the South Carolina and E.D.N.Y. Derivative Actions lifted on March 6, 2024. On February 13, 2024, the parties to the Derivative Actions reached an agreement in principle resolving the actions. On April 30, 2024, the parties executed a Stipulation of Settlement. The settlement is subject to both preliminary and final approval by the Court of Common Pleas for the 16th Judicial Circuit, State of South Carolina, County of York ( the "South Carolina Court"). On May 14, 2024, Lead Plaintiffs' Counsel filed a motion seeking entry of an order preliminarily approving the settlement and establishing notice procedures. The South Carolina Court granted preliminary approval during a hearing held on July 11, 2024. The settlement remains subject to final approval by the Court. The final approval hearing is scheduled to occur in the South Carolina Court on October 21, 2024. The only monetary component of the Stipulation of Settlement is a $1,950 fee and expense award to counsel for plaintiffs in the Derivative Actions, all of which will be paid by insurance following final approval of the settlement by the Court. Termination of Volumetric Milestones Related to Potential Earnout Payments Subsequent to December 31, 2023, as result of the Company terminating former Volumetric Shareholders' eligibility to earn certain milestone-based payments that had been outlined in the Volumetric acquisition agreement, the former owners of Volumetric notified the Company that they were initiating dispute resolution under the provisions of the Volumetric acquisition agreement in an effort to recover 100% of the milestone-based payments that they previously had been eligible to earn. Refer to Note 26 for additional details regarding the events that have resulted in the termination of the former Volumetric Shareholders' eligibility to earn milestone-based payments outlined in the Volumetric acquisition agreement and the status of the resulting dispute resolution and other actions that have been initiated. SEC Investigation On April 15, 2022, the Company was informed that the SEC is conducting a formal investigation of the Company related to, among other things, the allegations in the Securities Class Action. The Company has subsequently received subpoenas from the SEC for the production of documents and information related to its investigation as a follow on to a previous voluntary request for documents. The Company is cooperating with the SEC in connection with its formal investigation. Other In May 2024, the Company became aware of a litigation matter involving claims against a Brazilian subsidiary of the Company made by a former contractor for breach of contract relating to allegedly unpaid commissions and compensation owed as a result of the termination of the contractor. The amount at issue in this matter is approximately $800. The Company believes that the claims are without merit and continues to defend itself vigorously. We are involved in various other legal matters incidental to our business. Although we cannot predict the results of the litigation with certainty, we believe that the disposition of all of these various other legal matters will not have a material adverse effect, individually or in the aggregate, on our consolidated results of operations, consolidated cash flows or consolidated financial position. Refer to Note 12 for details regarding our remaining short-term and long-term liabilities recorded for all legal contingencies and settlements as of December 31, 2023.
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurements | (24) Fair Value Measurements Fair value is the exchange price to sell an asset or transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. Fair value measurements use market data or assumptions market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs may be readily observable, corroborated by market data, or generally unobservable. Valuation techniques maximize the use of observable inputs and minimize use of unobservable inputs. The accounting guidance for fair value measurements and disclosures establishes a three-level fair value hierarchy: •Level 1 - Inputs are based on quoted prices in active markets for identical assets and liabilities. •Level 2 - Inputs are based on observable inputs other than quoted prices in active markets for identical or similar assets and liabilities. •Level 3 - One or more inputs are unobservable and significant. Financial and nonfinancial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Cash equivalents and short-term investments are valued utilizing the market approach to measure fair value for financial assets and liabilities. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. The carrying amounts of our cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities approximate fair value as of December 31, 2023 and 2022 because of the relatively short duration of these instruments. Assets measured at fair value on a recurring basis as of December 31, 2023 include money market funds with a fair value of $255,984, which are included in cash and cash equivalents on the consolidated balance sheet, and for which Level 1 inputs are used to measure at fair value. As of December 31, 2023, the Company did not have any short-term investments measured at fair value. Assets measured at fair value on a recurring basis as of December 31, 2022 are summarized below.
(a) Includes $745 and $743 of cost basis and fair market value, respectively, with a weighted average maturity of 1.3 years. We did not have any transfers of assets and liabilities between Level 1, Level 2 and Level 3 of the fair value measurement hierarchy during the years ended December 31, 2023 and 2022.
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Restructuring and Exit Activity Costs |
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| Restructuring and Related Activities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring and Exit Activity Costs | (25) Restructuring and Exit Activity Costs Restructuring Plan Objectives and Phases In February 2023, the Company announced the first phase of its multi-faceted restructuring initiative to improve operating efficiencies throughout the organization and drive long-term value creation. The objective of this first phase was to improve manufacturing efficiencies related to our European metal printer operations. Actions taken under this initiative include the in-sourcing of certain metal printer platforms into the Company’s Riom, France manufacturing facility, co-locating the manufacturing and engineering of the in-sourced metal printer products in order to improve cycle time from development to production. In May 2023, the Company announced the next phase of its multi-faceted restructuring initiative, which primarily consisted of a reduction in headcount representing approximately 6% of the Company's workforce. The majority of this targeted workforce reduction related to corporate and business support functions predominately located in the U.S. and Europe. In October 2023, the Company announced the latest phase of its multi-faceted restructuring initiative, which is primarily targeted at continuing to rationalize headcount, as well as the rationalization of geographic locations (i.e., leased facilities), in all functions across the Company and the reduction of certain third-party costs. We currently expect the execution of our restructuring initiatives to result in the recognition of aggregate charges in the range of $8,500 to $10,000, inclusive of $8,242 which has been recognized in our consolidated statement of operations for the year ended December 31, 2023. These charges relate to employee severance and termination benefit costs that are generally recognized when probable and estimable because they are typically being determined consistent with the Company’s past practices or statutory law. In addition, we will incur additional cash expenditures related to our planned facility exits and relocation activities, which will be recognized as incurred. We currently expect the execution of our restructuring plan, including the cash settlement of associated liabilities, to be substantially complete by December 31, 2024. Status of Our Initiatives Headcount The Company has substantially completed the initial phase of headcount reductions announced in May 2023. Actions related to the incremental headcount reductions announced in October 2023 commenced in November 2023 and are expected to continue throughout 2024. Facilities Rationalization During the three months ended December 31, 2023, the Company (1) commenced the process of identifying leased facilities that it may exit and (2) began developing and executing plans to exit and potentially sublease such facilities. The decision-making, planning and execution of these activities will continue throughout 2024. To date, we have identified certain facilities that we have committed to exiting. However, the Company’s consolidated financial statements as of and for the year ended December 31, 2023 do not include material transactions resulting from such decisions because the Company generally had not ceased use of such facilities as of December 31, 2023. In addition, we have identified several additional facilities that we continue to evaluate for opportunities to exit. Costs Incurred and Settled During the Period The following table provides details regarding restructuring charges recorded during the period, the portion of such costs that were settled with cash as of December 31, 2023, and the remaining accrued liability reported in our consolidated balance sheet as of December 31, 2023:
The severance, termination benefits and other employee costs that have been incurred during the year ended December 31, 2023 are reflected in our consolidated statement of operations as follows:
In addition to the severance and termination costs reported above, the Company has recognized incremental impairment charges totaling $628 related to certain fixed assets that have been retired in connection with the Company’s restructuring activities. Restructuring Plan Announced August 2020 On August 5, 2020, we announced a restructuring plan, which focused on a reduction of our headcount and the closing of certain facilities. During the year ended December 31, 2021, we finalized all actions related to this plan and recognized related costs totaling $1,121 within selling, general and administrative in our consolidated statement of operations for the period.
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Subsequent Events |
12 Months Ended |
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Dec. 31, 2023 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | (26) Subsequent Events Termination of Volumetric Milestones Related to Potential Earnout Payments Following the acquisition of Volumetric in 2021, the Company could have been required to pay up to $355,000 of acquisition-related earnout payments to the former owners of Volumetric if the Company were to achieve seven non-financial, science-based milestones prior to either December 31, 2030 or December 31, 2035 (refer to Note 3 and Note 17). After losing funding for research on kidneys and livers from the Company’s key strategic partner for the related R&D efforts, on February 24, 2024 the Company notified the former owners of Volumetric that it was terminating the four milestones relating to kidney and liver research because achievement was no longer financially viable. As a result of the termination of these four milestones, the Company's maximum liability for acquisition-related earnout payments was reduced to $175,000, which would be payable if each of the three remaining non-financial, science-based milestones were achieved within the timeframes set forth in the Volumetric acquisition agreement. On March 29, 2024, the former owners of Volumetric notified the Company that they were initiating dispute resolution under the provisions of the Volumetric acquisition agreement in an effort to recover the $355,000. The parties did not reach a resolution during the 30-day negotiation period following the notice and entered into non-binding mediation in accordance with the terms of the Volumetric acquisition agreement. Further, on April 29, 2024, two of the former Volumetric shareholders terminated their employment with the Company. The two former shareholders claim that their terminations were for good reason, which would preserve their rights to earn milestone payments under the merger agreement. The Company vigorously denies their claim that the termination was for good reason and contends that the former shareholders of Volumetric are now no longer eligible to achieve any of the remaining three non-financial, science-based milestones or earn any of the related $175,000 of milestone payments. On July 8, 2024, the Company proposed a settlement of $1,500 with the former shareholders and key employees of Volumetric during mediation. The proposed settlement was accrued as expense during the three months ended March 31, 2024. On July 24, 2024, the former shareholders and key employees rejected the offer and proposed a counteroffer that the Company does not intend to accept. As of August 13, 2024, the mediation process between the parties remains ongoing. Payment of Portion of Government Settlement Penalty During February 2024, the Company paid $3,500 to DDTC in satisfaction of the second installment of its settlement penalty totaling $10,000 related to export controls and International Traffic in Arms Regulations. Refer to Note 23 for additional details regarding this government settlement. Repurchases of Debt On March 8, 2024, the Company repurchased $110,492 aggregate principal amount of its outstanding Notes from certain holders for an aggregate cash repurchase price of $87,218 including transaction expenses. Refer to Note 13 for additional details regarding debt extinguishment. Convertible Notes Compliance The Company’s failure to file this 2023 Form 10-K and provide it to the trustee by April 1, 2024 represents a default under the terms of the Indenture. In addition, the Company's failure to file its Form 10-Q for the three months ended March 31, 2024 and provide it to the trustee by May 30, 2024 represented an incremental default under the terms of the Indenture. These defaults will not become an event of default under the terms of the Indenture if the Company files this Form 10-K and its Form 10-Q for the three months ended March 31, 2024 prior to the end of the cure period provided for by the Indenture, which cure period has not yet been initiated by the trustee or holders of the Notes. The Company has not incurred any special interest as a result of this default, nor have the Notes become subject to any other actions by the holders. Sale of Oqton Dental During May 2024, the Company completed the sale of the portion of the Oqton MOS business that was focused on the dental market ("Oqton Dental") in exchange for a de minimis amount of cash, resulting in the transfer of a limited portion of Oqton MOS's personnel and a de minimis amount of fixed assets. Incremental Investment in NAMI In May 2024, the Company made an incremental investment of $2,450 in NAMI, the Company's joint venture with Dussur. Refer to Note 10 for additional details regarding this equity method investment.
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Pay vs Performance Disclosure - USD ($) $ in Thousands |
12 Months Ended | ||
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Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
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| Pay vs Performance Disclosure | |||
| Net (loss) income attributable to 3D Systems Corporation | $ (362,688) | $ (122,711) | $ 322,052 |
Insider Trading Arrangements |
3 Months Ended |
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Dec. 31, 2023 | |
| Trading Arrangements, by Individual | |
| Rule 10b5-1 Arrangement Adopted | false |
| Non-Rule 10b5-1 Arrangement Adopted | false |
| Rule 10b5-1 Arrangement Terminated | false |
| Non-Rule 10b5-1 Arrangement Terminated | false |
Significant Accounting Policies (Policies) |
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| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Basis of Presentation | Basis of Presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). The consolidated financial statements include the accounts of the Company, including all majority and wholly-owned subsidiaries and entities in which a controlling interest is maintained. All significant intercompany accounts and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform to the current year presentation. A non-controlling interest in a subsidiary reflects an ownership interest in a majority-owned subsidiary that is not attributable to the Company. For the periods presented, the Company's financial statements include a redeemable non-controlling interest (“RNCI”), which has been reported in temporary equity in the consolidated balance sheets. The net loss attributable to the RNCI is presented as an adjustment to the Company's consolidated net (loss) income to arrive at net (loss) income attributable to 3D Systems Corporation in the consolidated statements of operations and consolidated statements of comprehensive (loss) income. Furthermore, adjustments to record the RNCI at its redemption value are recorded to additional paid-in capital, and the excess redemption value is recognized as a reduction to net income, or increase to net loss, attributable to 3D Systems’ shareholders for purposes of reporting earnings or loss per share. See Note 15 for a summary of the activity related to the reported RNCI balance during the periods presented. Our annual reporting period is the calendar year. All dollar and share amounts and other amounts presented in the accompanying footnotes are presented in thousands, except for per share information.
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| Use of Estimates | Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect (1) the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the balance sheet dates and (2) the reported amounts of revenues and expenses during the reporting periods. We base our estimates on historical experience, currently available information and various other assumptions that we believe are reasonable under the circumstances. Actual results could differ from these estimates.
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| Revenue Recognition | Revenue Recognition We account for revenue in accordance with Accounting Standards Codification ("ASC") Topic 606, “Revenue from Contracts with Customers.” Collaborative revenue contracts, for which the collaboration partner meets the definition of a customer, are recorded in accordance with ASC Topic 606; otherwise, the collaborative arrangements are recorded in accordance with ASC 808, "Collaborative Arrangements".Revenue Recognition Revenue is recognized when control of the promised products or services is transferred to customers. Revenue is recognized in an amount that reflects the consideration we expect to receive in exchange for those products or services. We enter into contracts that can include various combinations of products and services, which are generally capable of being distinct and, accordingly, are accounted for as separate performance obligations. For such arrangements, we allocate revenue to each performance obligation based upon its relative stand-alone selling price (“SSP”). Revenue is recognized net of allowances for returns and any taxes collected from customers that are subsequently remitted to governmental authorities. The amount of consideration received and revenue recognized may vary based on changes in marketing incentive programs offered to our customers. Our marketing incentive programs take many forms, including volume discounts, trade-in allowances, rebates and other discounts. A majority of our revenue is recognized at the point in time when products are shipped or services are delivered to customers. Hardware and Materials Revenue from hardware and material sales is recognized when control has transferred to the customer, which generally occurs when the goods have been shipped or delivered to the customer, risk of loss has transferred to the customer, and we have a present right to payment. In limited circumstances, when printer or other hardware sales include substantive customer acceptance provisions, revenue is recognized either when customer acceptance has been obtained, customer acceptance provisions have lapsed, or we have objective evidence that the criteria specified in the customer acceptance provisions have been satisfied. Printers and certain other products include a warranty under which we provide maintenance for periods up to one year. For these initial product warranties, estimated costs are accrued at the time of the sale of the product. These cost estimates are established using historical information regarding the nature, frequency and average cost of claims for each type of printer or other product, as well as assumptions about future activity and events. Revisions to expense accruals are made as necessary based on changes in these historical and future factors. Software We also market and sell software tools that enable our customers to capture and customize content using our printers, design optimization and simulation software, and reverse engineering and inspection software. Our software does not require significant modification or customization, and the license provides the customer with a right to use the software as it exists when made available. Revenue from these software licenses is recognized either upon delivery of the product or of a key code which allows the customer to download the software. Customers may purchase post-sale support. Generally, the first year of support is included, but subsequent years are optional. This optional support is considered a separate obligation from the software. Accordingly, revenue is deferred at the time of sale and subsequently recognized ratably over future periods. Services We offer training, installation and non-contract maintenance services for our products. Additionally, we offer maintenance contracts customers can purchase at their option. For maintenance contracts, revenue is deferred at the time of sale based on the stand-alone selling prices of these services. Deferred revenue is recognized ratably over the term of the maintenance period on a straight-line basis and costs are expensed as incurred. Revenue from training, installation and non-contract maintenance services is recognized at the time of performance of the service. We also sell software as a service, whereby the customer has the right to access the software. Revenue is recognized ratably over the related subscription period, as our performance obligation to provide access to the software is progressively fulfilled over the stated term of the contract. On demand manufacturing and Healthcare Solutions service sales are included within services revenue, and revenue is recognized upon shipment or delivery of the parts or performance of the service, based on the terms of the arrangement. We disposed of the majority of our service revenue businesses including Cimatron, Simbionix, and ODM, which were minimally offset by the purchase of Oqton. See Note 3 and Note 4. Collaboration and Licensing Agreements We enter into collaboration and licensing agreements with third parties. The nature of the activities to be performed and the consideration exchanged under the agreements varies on a contract-by-contract basis. We evaluate these agreements to determine whether they meet the definition of a customer relationship for which revenue is recorded. These contracts may contain multiple performance obligations and may contain fees for licensing, R&D services, contingent milestone payments upon the achievement of contractual developmental criteria and/or royalty fees based on the licensees’ product revenue. We determine the revenue to be recognized for these agreements based on an evaluation of the distinct performance obligations; the identification and evaluation of material rights; the estimation of the amount of variable consideration to be included in transaction price, as well as the timing for the inclusion of such variable consideration; and the amount of transaction price assigned to and the pattern of transfer of control for each distinct performance obligation. This typically results in the recognition of revenue over time using a cost-to-cost percentage of completion model to measure the progress of the transfer of control. The Company recognized $17,040, $13,497, and $6,804 in revenue related to collaboration arrangements with customers for the years ended December 31, 2023, 2022, and 2021, respectively. The Company recognized $14,095, $11,063, and $5,888 in products cost of sales related to the collaboration arrangements with customers for the years ended December 31, 2023, 2022, and 2021, respectively. The majority of our collaboration arrangement revenue and related costs of sales relates to R&D being performed under a single regenerative medicine contract. Our revenue recognized under collaboration and licensing agreements for year ended December 31, 2023 includes the effect of the Company increasing its estimate of the variable consideration included in the transaction price related to one of its licensing agreements. The increase in estimated recognizable variable consideration was due to (1) the execution of a modification to the related customer contract and (2) the Company's determination that incremental revenue attributable to milestone payments that are contingent upon the achievement of contractual developmental criteria would be earned under the modified contract. As a result, during the year ended December 31, 2023, the Company recognized a cumulative catch-up adjustment to record incremental services revenue of $4,452, which reduced our reported basic and diluted loss per share by $0.03 and $0.03, respectively, for year ended December 31, 2023. Terms of Sale Shipping and handling activities are treated as fulfillment costs rather than as an additional promised service. We accrue the costs of shipping and handling when the related revenue is recognized. Our incurred costs associated with shipping and handling are included in product cost of sales. Creditworthiness is determined, and credit is extended, based upon an evaluation of each customer’s financial condition. New customers are generally required to complete a credit application and provide references and bank information to facilitate an analysis of creditworthiness. Our terms of sale generally provide payment terms that are customary in the countries where we transact business. To reduce credit risk in connection with certain sales, we may, depending upon the circumstances, require significant deposits or payment in full prior to shipment. For maintenance services, we either bill customers on a time-and-materials basis or sell maintenance contracts that provide for payment in advance on either an annual or other periodic basis. Significant Judgments Allocation of Transaction Price Our contracts with customers often include promises to transfer multiple products and services to a customer. For such arrangements, we allocate revenue to each performance obligation based on its relative SSP. Judgment is required to determine the SSP for each distinct performance obligation in a contract. For the majority of items, we estimate SSP using historical transaction data. We use a range of amounts to estimate SSP when we sell each of the products and services separately and need to determine whether there is a discount to be allocated based on the relative SSP of the various products and services. In instances where SSP is not directly observable, such as when the product or service is not sold separately, we determine the SSP using information that may include market conditions and other observable inputs. In some circumstances, we have more than one SSP for individual products and services due to the stratification of those products and services by customers, geographic region or other factors. In these instances, we may use information such as the size of the customer and geographic region in determining the SSP. The determination of SSP is an ongoing process, and information is reviewed regularly in order to ensure SSP reflects the most current information or trends. Variable Consideration We must assess if and when it is appropriate to include variable consideration when determining transaction price. This assessment, which impacts the timing and the amount of revenue recognized under contracts accounted for in accordance with ASC 606, requires management to conclude that it is probable that a significant reversal of the amount of cumulative revenue recognized with respect to a contract will not occur when the uncertainty associated with the variable consideration is subsequently resolved. The nature of our sales and marketing incentives may lead to consideration that is variable. Judgment is exercised at contract inception to determine the most likely outcome of the contract and resulting transaction price. Ongoing assessments are performed to determine if updates are needed to the original estimates. Contracts Recognized Over Time The Company recognizes the revenue attributable to certain contracts over time using a cost-to-cost percentage of completion model to measure progress. The application of this accounting requires the Company to estimate total costs that will be required to satisfy the related performance obligations. These estimates could change over the term of a contract. Contract Balances The timing of revenue recognition, billings and cash collections results in the recognition of billed accounts receivable and contract assets (including unbilled receivables) and customer deposits and deferred revenue (contract liabilities) on our consolidated balance sheets. Timing of revenue recognition may differ from the timing of invoicing to customers. We record accounts receivable when we have an unconditional right to recognize revenue at the time of invoicing, and unbilled receivables when revenue is recognized prior to invoicing. For most of our contracts, customers are invoiced when products are shipped or when services are performed resulting in billed accounts receivables for the remainder of the owed contract price. Unbilled receivables generally result from circumstances in which items have been shipped, revenue has been recognized, but the customer has not been charged. We also recognize a contract asset upon the recognition of revenue related to certain performance milestones that are deemed probable of achievement, but for which billing has not occurred and receipt of payment is conditioned upon factors other than the passage of time. In our on demand manufacturing business, which was sold in September of 2021, customers may have been required to pay in full before work begins on their orders, resulting in customer deposits. We typically bill in advance for installation, training and maintenance contracts, as well as for extended warranties, resulting in deferred revenue. The increase in the contract assets balance as of December 31, 2023 (see table below) primarily relates to the increase in the estimated variable consideration included in the transaction price related to one of the Company's collaboration and licensing agreements (refer to the discussion above of Collaboration and Licensing Agreements), which has resulted in the recognition of incremental revenue for which the Company has the right to invoice upon achievement of each respective contractual milestone. Changes in contract asset and liability balances were not materially impacted by any other factors for the years ended December 31, 2023 and 2022, respectively. Accounts receivable, contract asset and contract liability balances as of December 31, 2023, 2022 and 2021 were as follows:
(1) Includes amounts reported in Prepaid expenses and other current assets and Other assets on the balance sheet, inclusive of $5,422 as of December 31, 2023 that is related to a long-term contract and is billable upon attainment of milestones. (2) Includes amounts reported in Other liabilities on the balance sheet. During the year ended December 31, 2023, we recognized revenue of $25,980 related to our contract liabilities at December 31, 2022. During the year ended December 31, 2022, we recognized revenue of $31,038 related to our contract liabilities at December 31, 2021. During the year ended December 31, 2021, we recognized revenue of $30,302 related to our contract liabilities at December 31, 2020. Practical Expedients and Exemptions We generally expense sales commissions when incurred because the amortization period would be one year or less. These costs are recorded within selling, general and administrative expenses. Revenue Concentrations For the years ended December 31, 2023, 2022, and 2021, one customer accounted for approximately 15%, 23%, and 22% of our consolidated revenue, respectively, which revenue relates to our Healthcare Solutions segment. We expect to maintain our relationship with this customer. Revenue by geographic region for the years ended December 31, 2023, 2022, and 2021, which is determined based upon the geographic region in which a sale originates, was as follows:
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| Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents consist of cash and highly liquid investments with maturities of three months or less when acquired. At times, cash and cash equivalents balances may be in excess of FDIC insurance limits.
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| Short-Term Investments and Non-Current Investments | Short-Term Investments At times, the Company has invested a portion of its excess cash in short-term investments. The Company's short-term investment accounting policy is that securities with maturities greater than 90 days at the time of purchase that are available for operations in the next 12 months are classified as short-term investments. The Company’s short-term investments primarily consist of investment grade bonds, certificates of deposit, commercial paper, and short maturity bond funds, all with a remaining maturity of generally less than twelve months at the date of purchase and classified as available-for-sale. Interest and dividends on these investments are recorded into income when earned. Available-for-sale securities, which consist of debt securities, are carried at fair value with unrealized gains and losses, net of related tax, reported in other comprehensive (loss) income. Adjustments to the fair value of investments classified as available-for-sale are recorded as an increase or decrease in accumulated other comprehensive income (loss) in shareholders’ equity. Impairment of available-for-sale securities that is attributable to credit losses is recognized as an allowance for credit losses, net of taxes, in the consolidated statement of operations in the period in which a credit loss is identified. The Company periodically evaluates its investment for credit losses. Non-Current Investments We recognize investments in equity securities without a readily determinable fair value at cost minus impairment. We assess these investments for potential impairment if an event occurs or circumstances change that would indicate the carrying amount may be impaired. Impairments of equity securities without a readily determinable fair value are recorded to interest and other income (expense), net in the consolidated statements of operations in the period in which they become impaired. Declines in the fair value of investments in debt securities due to credit losses are recorded as an allowance for credit losses in the consolidated statement of operations in the period in which a credit loss is identified.
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| Variable Interest Entities (VIEs) | Variable Interest Entities (VIEs) Upon making an investment in an entity, we assess whether the entity is a VIE. The determination of whether an entity in which we hold a direct or indirect variable interest is a VIE is based on several factors, including whether the entity’s total equity investment at risk upon inception is sufficient to finance the entity’s activities without additional subordinated financial support. We make judgments regarding the sufficiency of the equity at risk based first on a qualitative analysis, and then a quantitative analysis, if necessary. We analyze any investments in VIEs to determine if we are the primary beneficiary. We perform this assessment at the time that we become involved with a VIE and reevaluate our conclusion upon the occurrence of a reconsideration event. In evaluating whether we are the primary beneficiary, we evaluate our direct and indirect economic interests in the entity. Determining which reporting entity, if any, is the primary beneficiary of a VIE is primarily a qualitative approach focused on identifying which reporting entity has both (1) the power to direct the activities of a VIE that most significantly impact such entity’s economic performance and (2) the obligation to absorb losses or the right to receive benefits from such entity that could potentially be significant to such entity. Performance of such analysis requires the exercise of judgment, and we consider a variety of factors in identifying the entity that holds the power to direct matters that most significantly impact a VIE’s economic performance including, but not limited to, the ability to direct a VIE’s operating decisions and activities. In addition, we consider the rights of other investors to participate in those decisions. We concluded that our investments in Theradaptive and the National Additive Manufacturing Innovation ("NAMI") joint venture are each investments in a VIE. These entities in which we have invested are not consolidated because we concluded that the Company is not the primary beneficiary.
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| Equity Method of Accounting | Equity Method of Accounting The Company accounts for its investment in a joint venture using the equity method of accounting because it does not have a controlling interest and is not the primary beneficiary; however, the Company has the ability to exert significant influence. Under the equity method of accounting, this initial investment was recorded at cost, and the investment is subsequently adjusted for the Company’s proportionate share of the net earnings or losses and other comprehensive income or loss of the investee. Intra-entity profits or losses associated with the Company’s equity method investment are eliminated until realized by the investee in transactions with third parties. Income or loss from this investment is recorded as a separate line item in the consolidated statements of operations on a three-month lag. We evaluate material events occurring during the three-month lag period to determine whether the effects of such events should be disclosed in our financial statements. The Company evaluates its investment in the joint venture for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable.
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| Accounts Receivable and Allowances for Doubtful Accounts | Accounts Receivable and Allowance for Doubtful Accounts Trade accounts receivable are recorded at the invoiced amount and do not bear interest. In evaluating the collectability of accounts receivable, we assess a number of factors, including specific customers’ ability to meet their financial obligations to us, the length of time receivables are past due, historical collection experience, current economic conditions, and reasonable and supportable forecasts. Based on these assessments, we may record a reserve for specific customers, as well as a general reserve and allowance for expected credit losses. If circumstances related to specific customers change, or economic conditions deteriorate such that our past collection experience is no longer relevant, our estimate of the recoverability of accounts receivable could be further reduced from the levels provided for in the consolidated financial statements. As of December 31, 2023, no single customer represented more than 10% of our consolidated accounts receivable balance. As of December 31, 2022, one customer represented greater than 10% of our consolidated accounts receivable balance.
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| Inventories | Inventories Inventories are stated at the lower of cost or net realizable value, with cost reflecting standard cost, which approximates the first-in, first-out method. Capitalized inventory costs include materials, labor, and manufacturing overhead that relate to the acquisition of raw materials and production into finished goods. The Company regularly reviews inventory for excess and obsolescence and records a provision to write down inventory to its net realizable value when carrying value is in excess of such value.
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| Property and Equipment | Property and Equipment Property and equipment are recorded at cost and are depreciated over their estimated useful lives using the straight-line method. Upon retirement or sale, the cost of assets disposed of and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the determination of net income or loss. Repairs and maintenance costs are expensed as incurred.
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| Long-Lived Assets and Goodwill | Long-Lived Assets and Goodwill Long-Lived Assets We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. Recoverability is assessed for the carrying value of assets held for use based on a review of undiscounted projected cash flows. Impairment losses, where identified, are measured as the excess of the carrying value of a long-lived asset over its estimated fair value as determined by discounted projected cash flows. Refer to Note 7 for details regarding impairment charges that were recorded related to tangible long-lived assets with finite lives for the years ended December 31, 2023, 2022, and 2021. Intangible Assets (Excluding Goodwill) Intangible assets include patents, trade names, customer relationships, acquired technology, and IPR&D. Intangible assets with a finite life are (1) amortized on a straight-line basis, with estimated useful lives typically ranging from 2 to 20 years, and (2) assessed for impairment whenever events or changes in circumstances indicate that their carrying value may not be recoverable, consistent with the Company's accounting policy for other long-lived assets with a finite life. Amortization is recognized within selling, general and administrative expense on the consolidated statements of operations. Acquired IPR&D represents the fair value assigned to those research and development ("R&D") projects that were acquired in a business combination for which the related products have not received regulatory approval or commercial viability and have no alternative future use. IPR&D is capitalized at its fair value as an indefinite-lived intangible asset, and any development costs incurred after the acquisition are expensed as incurred. The fair value of IPR&D is determined by estimating the future cash flows of each project and discounting the net cash flows back to their present values. Upon achieving regulatory approval or commercial viability for the related product, the indefinite-lived intangible asset is accounted for as a finite-lived asset and is amortized on a straight-line basis over the estimated useful life. If the project is not completed or is terminated or abandoned, the Company may have to recognize an impairment related to the IPR&D, which is charged to expense. Indefinite-lived intangible assets are tested for impairment annually in the fourth quarter of the fiscal year and whenever events or changes in circumstances indicate that the carrying amount may be impaired. Impairment is calculated as the excess of the asset’s carrying value over its fair value. Fair value is generally determined using a discounted future cash flow analysis. IPR&D with no alternative future use acquired outside of a business combination is expensed immediately. During the year ended December 31, 2023, we recorded impairment charges totaling $22,979 related to intangible assets. Refer to Note 8 for additional details. No impairment charges were recorded for intangible assets for the years ended December 31, 2022 and 2021. Goodwill Goodwill is the excess of the cost of an acquired entity over the amounts assigned to the assets acquired and liabilities assumed in a business combination. Goodwill is not amortized. Goodwill is tested for impairment annually, and is tested for impairment between annual tests if an event occurs or circumstances change that would indicate the carrying amount may be impaired. Impairment testing for goodwill is performed at the reporting unit level, with all goodwill assigned to a reporting unit. During the fourth quarter of 2023, we elected to change the annual goodwill impairment testing date for each of our reporting units from November 30th to November 1st and, accordingly, we have performed our impairment tests for the current fiscal year as of November 1, 2023. The Company does not believe that this change to the annual impairment testing date represents a material change in the method of applying an accounting principle. This voluntary change is preferable because it provides management with sufficient time to complete goodwill impairment tests in advance of the Company’s year-end financial reporting and provides additional time for the execution of key controls and management review over the significant estimates and judgements inherent in the performance of the test. This change to the goodwill impairment testing date has not been applied retrospectively as it is impracticable to do so without applying hindsight when developing key assumptions and estimates required to perform the test. The testing of goodwill for impairment requires the Company to make several estimates related to projected future cash flows to determine the fair value of the reporting units to which goodwill has been assigned. The Company determines whether each reporting unit's fair value exceeds its carrying amount, including goodwill, utilizing a discounted cash flow analysis and other valuation techniques, as deemed appropriate. Internal operational budgets and long-range strategic plans are used as a basis for the cash flow analysis. The Company also utilizes assumptions related to working capital, capital expenditures, and terminal growth rates. The discount rate applied to the cash flow analysis is based on the weighted average cost of capital (“WACC”) for each reporting unit. An impairment is recognized when the carrying amount of the reporting unit’s net assets exceeds the estimated fair value of the reporting unit.
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| Contingencies | Contingencies We follow the provisions of ASC 450, “Contingencies,” which requires that an estimated loss from a loss contingency be accrued by a charge to income if (1) it is probable that an asset has been impaired or that a liability has been incurred and (2) the amount of the loss can be reasonably estimated. Legal costs related to the defense or settlement of a loss contingency are expensed when such costs are incurred and, accordingly, future legal costs expected to be incurred are not accrued as part of the liability recorded when a loss contingency has been deemed probable and estimable.
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| Foreign Currency Translation and Transactions | Foreign Currency Translation and Transactions The local currency in which a subsidiary operates is generally considered its functional currency for those subsidiaries domiciled outside the United States ("foreign subsidiaries"). The functional currency financial statements of foreign subsidiaries are translated to U.S. dollars ("USD") in connection with the preparation of the Company's consolidated financial statements. Assets and liabilities of foreign subsidiaries are translated to USD at month-end exchange rates applicable to the reporting period. Income and expense items are translated to USD monthly using monthly average exchange rates. The effects of translating a foreign subsidiary's financial statements are recorded as currency translation adjustments and reported as a component of accumulated other comprehensive income (loss) in shareholders’ equity. Foreign currency transactions are those transactions whose terms are denominated in a currency other than an entity's functional currency. Foreign currency transactions that remain unsettled as of the end of a reporting period must be remeasured into the entity's functional currency, resulting in the recognition of a gain or loss when a change in exchange rate has occurred subsequent to the date on which the transaction was originally recognized or was most recently remeasured. The Company recognizes foreign currency transaction gains and losses within interest and other income (expense), net on its consolidated statements of operations.
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| Derivative Financial Instruments | Derivative Financial Instruments We are exposed to market risk from changes in interest rates, foreign currency exchange rates and commodity prices, which may adversely affect our results of operations and financial condition. We seek to minimize these risks through regular operating and financing activities and, when we consider it to be appropriate, through the use of derivative financial instruments. We do not purchase, hold or sell derivative financial instruments for trading or speculative purposes. We may use derivative financial instruments to manage our exposure to changes in interest rates on outstanding debt instruments. For those financial instruments that qualify for cash flow hedge accounting treatment under ASC 815, “Derivatives and Hedging,”, and where we elect to prepare and maintain the documentation required to qualify for cash flow hedge accounting treatment, gains and losses (realized or unrealized) are recognized in accumulated other comprehensive income (loss) and are reclassified into earnings when the underlying transaction is recognized in net earnings. Depending on the fair value at the end of the reporting period, derivatives are recorded either in prepaid and other current assets or in accrued and other liabilities on the consolidated balance sheets. We and our subsidiaries conduct business in various countries using both functional currencies and other currencies to effect cross-border transactions. As a result, we and our subsidiaries are subject to the risk that fluctuations in foreign currency exchange rates between the dates that non-functional currency transactions are entered into and their respective settlement dates will result in a foreign currency exchange gain or loss. When practicable, we endeavor to match assets and liabilities in the same currency on our U.S. balance sheet and those of our subsidiaries in order to reduce these risks. We may enter into foreign currency exchange contracts to hedge the exposure arising from foreign currency transactions. For our hedges of foreign currency exchange rates and commodity prices, we have elected to not prepare and maintain the documentation to qualify for hedge accounting treatment under ASC 815, “Derivatives and Hedging.” Accordingly, changes in fair value are recognized in interest and other income (expense), net on the consolidated statements of operations and, depending on the fair value at the end of the reporting period, derivatives are recorded either in prepaid expenses and other current assets or in accrued and other liabilities on the consolidated balance sheets. We are exposed to credit risk if the counterparties to our derivative transactions are unable to perform their obligations. However, we seek to minimize such risk by entering into transactions with counterparties that are believed to be creditworthy financial institutions. As of December 31, 2023 and 2022, we did not hold any derivative or hedging financial instruments.
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| Research and Development Costs | Research and Development Costs R&D costs, consisting primarily of employee compensation, operating supplies, facility costs and depreciation, are expensed as incurred. When the Company is reimbursed by a collaboration partner for work the Company performs, it records the costs incurred as R&D expense and the related reimbursement as a reduction to R&D expense in its consolidated statements of operations.
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| Earnings (Loss) Per Share | Earnings (Loss) Per Share Basic earnings (loss) per share is calculated using the weighted-average number of common shares outstanding during each period. Diluted earnings per share is calculated based upon the inclusion of additional dilutive and potentially dilutive shares, which include shares issuable upon exercise of outstanding stock options, upon vesting of employee restricted stock-based awards, upon the accrual of incentive compensation to be paid in shares (if any performance-based conditions have been satisfied as of the end of the reporting period), and to settle the portion of the convertible notes that may be settled in shares (where the conversion of such instruments would be dilutive).
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| Advertising Costs | Advertising Costs Advertising costs are expensed as incurred and recorded in selling, general and administrative expense.
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| Pension Costs | Pension Costs We sponsor a retirement benefit for one of our non-U.S. subsidiaries in the form of a defined benefit pension plan. Accounting standards require the cost of providing this pension benefit be measured on an actuarial basis. Actuarial gains and losses resulting from both normal year-to-year changes in valuation assumptions and differences between assumptions and actual experience are deferred and amortized. The application of these accounting standards require us to make assumptions and judgements that can significantly affect these measurements. Our critical assumptions in performing these actuarial valuations include the selection of the discount rate to determine the present value of the pension obligations, which affects the amount of pension expense recorded in any given period. Changes in the discount rate could have a material effect on our reported pension obligations and related pension expense.
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| Equity Compensation Plans | Equity Compensation Plans We recognize compensation expense for our stock-based compensation programs, which provide for the issuance of stock options, restricted stock, restricted stock units (“RSU”), performance-based awards and market-based awards. The fair value of service-based awards is estimated at the grant date and recognized as expense ratably over the requisite service period of the award. The fair value of performance-based awards is estimated on the grant date and expensed over an implicit or explicit service period when the performance condition is deemed probable of achievement. Performance-based awards that cliff vest are expensed ratably using the straight-line method; whereas, performance-based awards with graded vesting features are expensed using the graded vesting method. Stock compensation expense recorded for performance-based awards is reversed if the performance condition is no longer deemed probable of achievement or ultimately is not met. Some RSUs are granted with a performance measure derived from non-GAAP-based management targets or non-financial targets. Depending on our performance with respect to these metrics, the number of RSUs earned may be less than, equal to or greater than the original number of RSUs awarded, subject to a payout range. The fair value of awards with market conditions ("market-based awards") is determined using a Monte Carlo valuation model and is expensed over an implicit or explicit service period regardless of whether the market condition is probable of achievement or not. Market-based awards that cliff vest are expensed ratably using the straight-line method; whereas, market-based awards with graded vesting features are expensed using the graded vesting method. Stock compensation expense is not reversed if the market condition is not met. For all share-based payment awards, we recognize forfeitures when they occur.
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| Income Taxes | Income Taxes We and the majority of our domestic subsidiaries file a consolidated U.S. federal income tax return, while four of our domestic entities file separate U.S. federal income tax returns. Our non-U.S. subsidiaries file income tax returns in their respective jurisdictions. Income taxes are accounted for under the asset and liability method. Deferred income tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and for tax benefit carryforwards. Our deferred income tax assets and liabilities at the end of each period are determined using enacted tax rates. We establish a valuation allowance for those jurisdictions in which the expiration date of tax benefit carryforwards or projected taxable earnings leads us to conclude that it is “more likely than not” that a deferred tax asset will not be realized. This evaluation process includes the consideration of all available evidence regarding historical results and future projections, including the estimated timing of reversals of existing taxable temporary differences and potential tax planning strategies. Once a valuation allowance is established, it is maintained until a change in factual circumstances gives rise to sufficient income of the appropriate character and timing that will allow a partial or full utilization of the deferred tax asset. In accordance with ASC 740, “Income Taxes,” the impact of an uncertain tax position on our income tax returns is recognized at the largest amount that is more likely than not to be required to be recognized upon audit by the relevant taxing authority. We include interest and penalties accrued in the consolidated financial statements as a component of income tax expense.
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| Operating and Finance Leases | Operating and Finance Leases We determine if an arrangement contains a lease at inception. We record both operating leases and finance leases on our balance sheet and do not separate non-lease components from our real estate leases. We exclude leases with a term of one year of less from our balance sheet. Some leases include the option to purchase the leased asset, terminate the lease or extend the lease for or more years. These options are considered in the determination of the estimated lease term when it is reasonably certain that an option will be exercised. Our leases do not contain any material residual value guarantees or material restrictive covenants. Most of our leases do not provide an implicit rate; therefore, we use our incremental borrowing rate based on information available at the lease commencement date to determine the present value of the future lease payments. Certain of our leases include variable costs. Variable costs include non-lease components that are incurred based upon actual terms, rather than contractually fixed amounts. In addition, variable costs are incurred for lease payments that are indexed to a change in rate or index. Because the right-of-use ("ROU") assets recorded on the balance sheet are determined based upon factors considered at the lease commencement date, subsequent changes in the rate or index that were not contemplated in the ROU asset balances at lease commencement result in variable expenses being recorded when these expenses are incurred during the lease term.
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| Recent Accounting Pronouncements | Recent Accounting Pronouncements Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") No. 2023-07, "Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures." This ASU expands upon existing reportable segment disclosure requirements by requiring the disclosure of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included within each reported measure of a segment's profit or loss, as well as conforming interim period disclosures with annual period disclosures. This ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. The ASU is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Adoption of the ASU should be applied retrospectively to all prior periods presented in the financial statements. Early adoption is also permitted. Upon adoption, this ASU is expected to result in the inclusion of additional segment-related disclosures in the footnotes to our consolidated financial statements. We are evaluating the provisions of this ASU and currently expect to adopt the new annual disclosure requirements as of the fourth quarter of our fiscal year ending December 31, 2024. In December 2023, the FASB issued ASU No. 2023-09, "Income Taxes (Topic 740) - Improvements to Income Tax Disclosures." The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation, as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. Upon adoption, this ASU is expected to result in the inclusion of additional tax-related disclosures in the footnotes to our consolidated financial statements. Recently Adopted Accounting Standards In October 2021, the Financial Accounting Standard Board ("FASB") issued ASU 2021-08, "Business Combinations (Topic 805) - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers", which amends ASC 805 to add contract assets and contract liabilities to the list of exceptions to the recognition and measurement principles that apply to business combinations and to “require that an entity (acquirer) recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC 606.” While primarily related to contract assets and contract liabilities that were accounted for by the acquiree in accordance with ASC 606, “the amendments also apply to contract assets and contract liabilities from other contracts to which the provisions of ASC 606 apply, such as contract liabilities from the sale of nonfinancial assets within the scope of Subtopic 610-20.” For public business entities, the amendments in this ASU became effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption of the amendments was permitted. The Company early adopted this standard in the first quarter of 2022, and it did not have an impact on its results of operations, cash flows or financial position. In August 2020, the FASB issued ASU 2020-06, "Debt - Debt with Conversion and Other Options (Subtopic 470-20)," and "Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40)," which simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible instruments. This guidance also eliminates the treasury stock method to calculate diluted earnings per share for convertible instruments and requires the use of the if-converted method. For public companies, this guidance became effective for fiscal years beginning after December 15, 2021 and interim periods within those fiscal years. Early adoption was permitted. The Company early adopted the standard as of January 1, 2021 and applied this guidance to the convertible senior notes issued in November 2021. See Note 14. In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes,” which simplifies the accounting for income taxes by eliminating some exceptions to the general approach in ASC 740, "Income Taxes." It also clarifies certain aspects of the existing guidance to promote more consistent application. This standard became effective for calendar-year public business entities in 2021 and interim periods within that year, and early adoption was permitted. The Company adopted this guidance during the first quarter of 2021. The implementation did not have a material effect on our financial position, results of operations or cash flows. No other new accounting pronouncements issued or effective during the periods reflected in our statements of operations have had or are expected to have a significant impact on our consolidated financial statements.
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| Fair Value Measurements | Cash equivalents and short-term investments are valued utilizing the market approach to measure fair value for financial assets and liabilities. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. The carrying amounts of our cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities approximate fair value as of December 31, 2023 and 2022 because of the relatively short duration of these instruments. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Significant Accounting Policies (Tables) |
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| Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Allowance for Doubtful Accounts | The following presents the changes in the balance of our allowance for doubtful accounts:
(a)Other includes the impact of write-offs, recoveries, divestitures and foreign currency translation adjustments.
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Acquisitions (Tables) |
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| Business Combination and Asset Acquisition [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | Shown below is the final purchase price allocation, which summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition:
Shown below is the final purchase price allocation, which summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition:
Shown below is the final purchase price allocation, which summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition:
Shown below is the final purchase price allocation, which summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition:
Shown below is the final purchase price allocation, which summarizes the fair values of the acquired assets and liabilities assumed at the date of acquisition:
Shown below is the final purchase price allocation, which summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition:
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| Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination | The following table presents the finite-lived intangible assets acquired and their respective estimated useful lives:
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| Schedule of Acquisition, Pro Forma Information | The following unaudited pro forma financial information summarizes the combined results of the Company and Wematter as if the acquisition had occurred on January 1, 2022. The pro forma results have been prepared for comparative purposes only, and do not necessarily represent what the results of operations would have been had the acquisition been completed on January 1, 2022. In addition, these pro forma results are not intended to be a projection of future operating results and do not reflect synergies that might be achieved. The unaudited pro forma financial information includes adjustments for the pro forma impact of our preliminary purchase price allocation, including the amortization of newly acquired intangible assets; the impact of transaction costs; and the alignment of accounting policies. Transaction costs have been included in the pro forma results for the period ended December 31, 2022, consistent with the pro forma assumption that the acquisition occurred on January 1, 2022. Pro forma revenue information has not been presented, as pre-acquisition revenue reported by Wematter was not material and, accordingly, the impact on our reported consolidated revenue also would not have been material.
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Revenue (Tables) |
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| Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Receivables, Contract Assets and Contract Liabilities | Accounts receivable, contract asset and contract liability balances as of December 31, 2023, 2022 and 2021 were as follows:
(1) Includes amounts reported in Prepaid expenses and other current assets and Other assets on the balance sheet, inclusive of $5,422 as of December 31, 2023 that is related to a long-term contract and is billable upon attainment of milestones. (2) Includes amounts reported in Other liabilities on the balance sheet.
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| Schedule of Revenue by Geographic Region | Revenue by geographic region for the years ended December 31, 2023, 2022, and 2021, which is determined based upon the geographic region in which a sale originates, was as follows:
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Inventories (Tables) |
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Inventory Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Components of Inventories | Components of inventories at December 31, 2023 and 2022 are summarized as follows:
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Property and Equipment (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Property and Equipment | Property and equipment at December 31, 2023 and 2022 are summarized as follows:
a.Leasehold improvements are amortized on a straight-line basis over the shorter of (i) their estimated useful life or (ii) the estimated or contractual life of the related lease.
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Intangible Assets (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Intangible Assets Other Than Goodwill | At December 31, 2023 and 2022, the Company's intangible assets with finite lives were as follows:
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Goodwill (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Goodwill | The following table reflects the changes in the carrying amount of goodwill by reporting unit for the year ended December 31, 2023:
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Investments and Note Receivable (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity Method Investments and Joint Ventures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Equity Investments | The following table summarizes our investment balances as of December 31, 2023 and December 31, 2022:
(1) Reflects warrant investment carried at fair value. The fair value of these warrants is measured using Level 3 fair value measurement inputs. Refer to Note 24 for a description of these inputs. (2) Includes interest amounts that have been accrued on, recorded to and reported as part of the notes receivable balances.
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Leases (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Components of Lease Cost | Components of lease cost (income) for the years ended December 31, 2023, 2022, and 2021 were as follows:
Supplemental cash flow information related to our leases for the years ending December 31, 2023, 2022 and 2021 was as follows:
The weighted-average remaining lease term and discount rate for our finance and operating leases as of December 31, 2023 and 2022 were as follows:
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| Schedule of Future Minimum Lease Payments - Finance Leases | As of December 31, 2023, our future minimum lease payments under operating leases and finance leases with initial or remaining lease terms in excess of one year were as follows:
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| Schedule of Future Minimum Lease Payments - Operating Leases | As of December 31, 2023, our future minimum lease payments under operating leases and finance leases with initial or remaining lease terms in excess of one year were as follows:
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Accrued and Other Liabilities (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Payables and Accruals [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Accrued Liabilities | at December 31, 2023 and 2022 are summarized as follows:
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| Schedule of Recognized Warranty Revenue and Incurred Warranty Costs | Changes in the product warranty obligation for the years ended December 31, 2023, 2022 and 2021 are summarized below:
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| Schedule of Other Liabilities | at December 31, 2023 and 2022 are summarized as follows:
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Employee Benefits (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Reconciliation of Changes in Projected Benefit Obligation | The following table provides a reconciliation of the changes in the projected benefit obligation for the years ended December 31, 2023 and 2022:
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| Schedule of Amounts Recognized in Consolidated Balance Sheets | We recognized the following amounts in the consolidated balance sheets at December 31, 2023 and 2022:
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| Schedule of Accumulated and Projected Benefit Obligations | Following are the projected benefit obligation and accumulated benefit obligation at December 31, 2023 and 2022:
The following table shows the components of net periodic benefit costs and the amounts recognized in for the years ended December 31, 2023, 2022 and 2021:
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| Schedule of Assumptions Used to Determine Benefit Obligations | The following assumptions are used to determine the benefit obligations as of December 31, 2023 and 2022:
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| Schedule of Estimated Future Benefit Payments | The following benefit payments, including expected future service cost, are expected to be paid:
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Redeemable Non-controlling Interest (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Noncontrolling Interest [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Redeemable Noncontrolling Interest | The following table shows changes in the reported RNCI balance during the year ended December 31, 2023:
The following table shows changes in the reported RNCI balance during the year ended December 31, 2022:
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Stock-Based Compensation (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Payment Arrangement [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Stock-based Compensation Expense | The following table shows the stock-based compensation expense recognized during the years ended December 31, 2023, 2022, and 2021:
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| Schedule of Shares and Units of Restricted Common Stock | A summary of our restricted stock and RSU activity for the year ended December 31, 2023 is as follows:
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| Schedule of Stock Option Activity | Stock option activity for the year ended December 31, 2023 was as follows:
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Interest and Other Income (Expense), Net (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Income and Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest and Other Income (Expenses), Net |
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Income Taxes (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Components of Income Before Income Taxes | The components of our income before income taxes for the years ended December 31, 2023, 2022 and 2021 are as follows:
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| Schedule of Components of Income Tax Provision | The components of income tax provision for the years ended December 31, 2023, 2022 and 2021 are as follows:
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| Schedule of Effective Tax Rate Reconciliation | The overall effective tax rate differs from the statutory federal tax rate for the years ended December 31, 2023, 2022 and 2021 as follows:
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| Schedule of Components of Net Deferred Income Tax Assets and Net Deferred Income Tax Liabilities | The components of our net deferred income tax assets and net deferred income tax (liabilities) at December 31, 2023 and 2022 are as follows:
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| Schedule of Unrecognized Tax Benefits | We include interest and penalties in the consolidated financial statements as a component of income tax expense.
(1) The unrecognized tax benefit balance as of December 31, 2023, 2022, and 2021 includes $323, $283, and $208 of interest and penalty, respectively.
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| Schedule of Deferred Income Tax Asset Valuation Allowance | The following presents the changes in the balance of our deferred income tax asset valuation allowance:
(1) The Other portion of changes to our valuation allowance consists primarily of the impact of acquisitions and changes in foreign currency translation rates.
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Net Income (Loss) Per Share (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Net Loss Per Share Reconciliation |
(1) Equity awards for the years ended December 31, 2023 and 2022 are deemed anti-dilutive because we reported a net loss for these periods. The dilutive impact of equity awards for December 31, 2021 is 2,755 shares, for which the calculation requires certain assumptions regarding assumed proceeds that would hypothetically repurchase common shares upon the conversion and exercise of restricted shares and outstanding stock options, respectively, and an estimate of 712 shares for the payment of accrued incentive compensation that was to be settled in shares. The share estimate is based on the accrued incentive compensation balance at the end of 2021 divided by the 2021 average share price. The following table presents the potentially dilutive shares that were excluded from the computation of diluted income (loss) per share attributable to common stockholders because their effect was considered anti-dilutive for the years ended December 31, 2023, 2022 and 2021, respectively.
For the year ended December 31, 2023, the table above excludes an estimate of 138 shares that are contingently issuable under the dp polar earnout agreement, as discussed in Note 3. As of December 31, 2023, there are no contingently issuable shares related to the Volumetric earnout arrangement discussed in Note 3 or the fiscal year 2023 annual bonus incentive compensation plan.
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Accumulated Other Comprehensive Loss (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stockholders' Equity Note [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Accumulated Other Comprehensive Loss | The changes in the balances of accumulated other comprehensive loss by component are as follows:
a.Amount reclassified into interest and other income (expense), net on the statements of operations. See Note 24 for details regarding fair value measurements and unrealized gains (losses) on short-term investments.
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Segment Information (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Segment Reporting Information by Segment | The following tables set forth our operating results by segment for the years ended December 31, 2023 and 2022:
(1) Corporate and Other is not an operating segment, but reflects expenses not directly attributable to and, accordingly, not allocated to our reportable segments. These expenses relate to corporate functions such as human resources, finance, and legal and include expenses such as salaries, benefits, and other related costs. Similar to the Company's operating segments, Corporate results are reported to and reviewed by the Company’s CODM on the basis of Adjusted EBITDA. The following table provides a reconciliation of the Company’s reported net loss to the total of our reportable segment Adjusted EBITDA and Corporate and Other Adjusted EBITDA for the years ended December 31, 2023 and 2022:
|
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| Schedule of Long-Lived Assets by Geographical Region | The following table summarizes long-lived assets by geographic region as of December 31, 2023 and 2022:
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Fair Value Measurements (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Assets And Liabilities Measured at Fair Value on Recurring Basis | Assets measured at fair value on a recurring basis as of December 31, 2022 are summarized below.
(a) Includes $745 and $743 of cost basis and fair market value, respectively, with a weighted average maturity of 1.3 years.
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Restructuring and Exit Activity Costs (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring and Related Activities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Restructuring and Related Costs | The following table provides details regarding restructuring charges recorded during the period, the portion of such costs that were settled with cash as of December 31, 2023, and the remaining accrued liability reported in our consolidated balance sheet as of December 31, 2023:
The severance, termination benefits and other employee costs that have been incurred during the year ended December 31, 2023 are reflected in our consolidated statement of operations as follows:
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Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Maximum exposure to losses | $ 13,247 | ||
| Impairments of goodwill and intangible assets | 22,979 | $ 0 | |
| Investment impairment charge | 0 | 2,900 | $ 0 |
| Carrying amount of non-current investments | 26,829 | 13,668 | |
| Advertising costs | 7,124 | 7,255 | 5,486 |
| Interest and penalties | $ 39 | $ 76 | $ 55 |
| Lease renewal term | 1 year | ||
| Accounts Receivable | Customer Concentration Risk | One Customer | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Concentration risk (as a percentage) | 10.00% | ||
| Minimum | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Useful life | 2 years | ||
| Maximum | |||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
| Useful life | 20 years | ||
Significant Accounting Policies (Schedule of Allowance for Doubtful Accounts) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
| Balance at beginning of year | $ 3,114 | $ 2,445 | $ 4,392 |
| Additions charged to expense | 595 | 562 | 232 |
| Other | (320) | 107 | (2,179) |
| Balance at end of year | $ 3,389 | $ 3,114 | $ 2,445 |
Acquisitions (Narrative) (Details) € in Thousands, shares in Thousands |
12 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jul. 01, 2023
USD ($)
|
Oct. 04, 2022
USD ($)
shares
|
Apr. 01, 2022
USD ($)
|
Dec. 01, 2021
USD ($)
milestone
shares
|
Nov. 01, 2021
USD ($)
shares
|
Jan. 21, 2019
USD ($)
|
Dec. 31, 2023
USD ($)
|
Dec. 31, 2022
USD ($)
|
Dec. 31, 2021
USD ($)
|
Jul. 01, 2023
EUR (€)
|
Dec. 31, 2018 |
|
| Business Acquisition [Line Items] | |||||||||||
| Revenue | $ 488,069,000 | $ 538,031,000 | $ 615,639,000 | ||||||||
| Net (loss) income attributable to 3D Systems Corporation | (362,688,000) | (122,711,000) | 322,052,000 | ||||||||
| Impairments of goodwill and intangible assets | 279,808,000 | ||||||||||
| Installment payments | 0 | 2,300,000 | 6,300,000 | ||||||||
| Industrial | |||||||||||
| Business Acquisition [Line Items] | |||||||||||
| Impairments of goodwill and intangible assets | 279,808,000 | ||||||||||
| Wematter AB | |||||||||||
| Business Acquisition [Line Items] | |||||||||||
| Acquired ownership percentage | 100.00% | 100.00% | |||||||||
| Payment in cash | $ 10,224,000 | ||||||||||
| Additional payments | € | € 2,000 | ||||||||||
| Additional payment period | 2 years | ||||||||||
| Acquisition related expenses | 866,000 | ||||||||||
| Business combination, consideration transferred, debt | $ 942,000 | ||||||||||
| Goodwill expected to be tax deductible | 0 | ||||||||||
| Acquired product technology intangible asset increased | 349,000 | ||||||||||
| Revenue | 72,000 | ||||||||||
| Net (loss) income attributable to 3D Systems Corporation | 8,435,000 | ||||||||||
| Purchase price | $ 11,166,000 | ||||||||||
| Wematter AB | Industrial | |||||||||||
| Business Acquisition [Line Items] | |||||||||||
| Impairments of goodwill and intangible assets | $ 6,398,000 | ||||||||||
| Dp polar GmbH | |||||||||||
| Business Acquisition [Line Items] | |||||||||||
| Acquired ownership percentage | 100.00% | ||||||||||
| Payment in cash | $ 19,604,000 | ||||||||||
| Additional payments | 2,229,000 | ||||||||||
| Acquisition related expenses | 165,000 | ||||||||||
| Purchase price | 25,866,000 | ||||||||||
| Issuance of shares amount | 7,091,000 | ||||||||||
| Estimated post closing purchase price adjustment | $ 829,000 | ||||||||||
| Issuance of shares (in shares) | shares | 250 | ||||||||||
| Kumovis GmbH | |||||||||||
| Business Acquisition [Line Items] | |||||||||||
| Acquired ownership percentage | 93.75% | ||||||||||
| Payment in cash | $ 37,875,000 | ||||||||||
| Acquisition related expenses | 126,000 | ||||||||||
| Purchase price | 39,434,000 | ||||||||||
| Fair value of RNCI | 1,559,000 | ||||||||||
| Deferred cash consideration | $ 3,628,000 | ||||||||||
| Cash deferment period | 15 months | ||||||||||
| Equity interest percentage | 50.00% | ||||||||||
| Acquisition years | 5 years 9 months | ||||||||||
| Purchase price | $ 39,434,000 | ||||||||||
| Kumovis GmbH | Kumovis GmbH | |||||||||||
| Business Acquisition [Line Items] | |||||||||||
| Ownership percentage | 6.25% | ||||||||||
| Titan Additive LLC | |||||||||||
| Business Acquisition [Line Items] | |||||||||||
| Acquired ownership percentage | 100.00% | ||||||||||
| Payment in cash | $ 39,040,000 | ||||||||||
| Acquisition related expenses | $ 612,000 | ||||||||||
| Purchase price | $ 39,040,000 | ||||||||||
| Volumetric Biotechnologies, Inc. | |||||||||||
| Business Acquisition [Line Items] | |||||||||||
| Payment in cash | $ 24,814,000 | ||||||||||
| Additional payments | 355,000 | 355,000,000 | |||||||||
| Acquisition related expenses | 1,306,000 | ||||||||||
| Goodwill expected to be tax deductible | 0 | ||||||||||
| Purchase price | 40,173,000 | ||||||||||
| Issuance of shares amount | $ 15,359,000 | ||||||||||
| Issuance of shares (in shares) | shares | 720 | ||||||||||
| Number of milestones | milestone | 7 | ||||||||||
| Oqton, Inc. | |||||||||||
| Business Acquisition [Line Items] | |||||||||||
| Payment in cash | $ 107,078,000 | ||||||||||
| Acquisition related expenses | $ 1,780,000 | ||||||||||
| Purchase price | 187,775,000 | ||||||||||
| Issuance of shares amount | $ 80,697,000 | ||||||||||
| Issuance of shares (in shares) | shares | 2,553 | ||||||||||
| Purchase price | $ 187,775,000 | ||||||||||
| Easyway | |||||||||||
| Business Acquisition [Line Items] | |||||||||||
| Acquired ownership percentage | 30.00% | 30.00% | 70.00% | ||||||||
| Purchase price | $ 13,500,000 | ||||||||||
| Installment payments | $ 2,300,000 | ||||||||||
Acquisitions (Assets and Liabilities Assumed) (Details) - USD ($) $ in Thousands |
Dec. 31, 2023 |
Jul. 01, 2023 |
Dec. 31, 2022 |
Oct. 04, 2022 |
Apr. 01, 2022 |
Dec. 01, 2021 |
Nov. 01, 2021 |
|---|---|---|---|---|---|---|---|
| Intangible assets: | |||||||
| Goodwill | $ 116,082 | $ 385,312 | |||||
| Wematter AB | |||||||
| Business Acquisition [Line Items] | |||||||
| Current assets, including cash acquired | $ 835 | ||||||
| Intangible assets: | |||||||
| Total intangible assets | 4,415 | ||||||
| Goodwill | 6,528 | ||||||
| Other assets | 475 | ||||||
| Liabilities: | |||||||
| Accounts payable and accrued liabilities | 794 | ||||||
| Long-term liabilities | 293 | ||||||
| Total liabilities | 1,087 | ||||||
| Net assets acquired | 11,166 | ||||||
| Cash acquired | 148 | ||||||
| Wematter AB | Trade names | |||||||
| Intangible assets: | |||||||
| Total intangible assets | 1,487 | ||||||
| Wematter AB | Customer relationships | |||||||
| Intangible assets: | |||||||
| Total intangible assets | 348 | ||||||
| Wematter AB | Product technology | |||||||
| Intangible assets: | |||||||
| Total intangible assets | $ 2,580 | ||||||
| Dp polar GmbH | |||||||
| Business Acquisition [Line Items] | |||||||
| Current assets, including cash acquired | $ 301 | ||||||
| Intangible assets: | |||||||
| Total intangible assets | 8,919 | ||||||
| Goodwill | 17,090 | ||||||
| Other assets | 765 | ||||||
| Liabilities: | |||||||
| Accounts payable and accrued liabilities | 364 | ||||||
| Deferred tax liability | 845 | ||||||
| Total liabilities | 1,209 | ||||||
| Net assets acquired | 25,866 | ||||||
| Cash acquired | 243 | ||||||
| Dp polar GmbH | Trade names | |||||||
| Intangible assets: | |||||||
| Total intangible assets | 3,930 | ||||||
| Dp polar GmbH | In-process research and development | |||||||
| Intangible assets: | |||||||
| Total intangible assets | $ 4,989 | ||||||
| Kumovis GmbH | |||||||
| Business Acquisition [Line Items] | |||||||
| Current assets, including cash acquired | $ 1,407 | ||||||
| Intangible assets: | |||||||
| Total intangible assets | 26,572 | ||||||
| Goodwill | 17,618 | ||||||
| Other assets | 705 | ||||||
| Liabilities: | |||||||
| Accounts payable and accrued liabilities | 332 | ||||||
| Deferred revenue | 70 | ||||||
| Deferred tax liability | 6,466 | ||||||
| Total liabilities | 6,868 | ||||||
| Net assets acquired | 39,434 | ||||||
| Cash acquired | 125 | ||||||
| Kumovis GmbH | Trade names | |||||||
| Intangible assets: | |||||||
| Total intangible assets | 5,802 | ||||||
| Kumovis GmbH | Product technology | |||||||
| Intangible assets: | |||||||
| Total intangible assets | 20,770 | ||||||
| Titan Additive LLC | |||||||
| Business Acquisition [Line Items] | |||||||
| Current assets, including cash acquired | 661 | ||||||
| Intangible assets: | |||||||
| Total intangible assets | 21,520 | ||||||
| Goodwill | 17,430 | ||||||
| Other assets | 68 | ||||||
| Liabilities: | |||||||
| Accounts payable and accrued liabilities | 229 | ||||||
| Deferred revenue | 410 | ||||||
| Total liabilities | 639 | ||||||
| Net assets acquired | 39,040 | ||||||
| Titan Additive LLC | Trade names | |||||||
| Intangible assets: | |||||||
| Total intangible assets | 5,580 | ||||||
| Titan Additive LLC | Product technology | |||||||
| Intangible assets: | |||||||
| Total intangible assets | $ 15,940 | ||||||
| Volumetric Biotechnologies, Inc. | |||||||
| Business Acquisition [Line Items] | |||||||
| Current assets, including cash acquired | $ 3,143 | ||||||
| Intangible assets: | |||||||
| Total intangible assets | 1,500 | ||||||
| Goodwill | 37,492 | ||||||
| Other assets | 1,194 | ||||||
| Liabilities: | |||||||
| Accounts payable and accrued liabilities | 3,156 | ||||||
| Total liabilities | 3,156 | ||||||
| Net assets acquired | 40,173 | ||||||
| Cash acquired | 389 | ||||||
| Volumetric Biotechnologies, Inc. | Product technology | |||||||
| Intangible assets: | |||||||
| Total intangible assets | 1,100 | ||||||
| Volumetric Biotechnologies, Inc. | Customer relationships | |||||||
| Intangible assets: | |||||||
| Total intangible assets | $ 400 | ||||||
| Oqton, Inc. | |||||||
| Business Acquisition [Line Items] | |||||||
| Current assets, including cash acquired | $ 8,344 | ||||||
| Intangible assets: | |||||||
| Total intangible assets | 19,900 | ||||||
| Goodwill | 165,904 | ||||||
| Other assets | 760 | ||||||
| Liabilities: | |||||||
| Accounts payable and accrued liabilities | 6,643 | ||||||
| Deferred revenue | 490 | ||||||
| Total liabilities | 7,133 | ||||||
| Net assets acquired | 187,775 | ||||||
| Cash acquired | 7,603 | ||||||
| Oqton, Inc. | Trade names | |||||||
| Intangible assets: | |||||||
| Total intangible assets | 7,300 | ||||||
| Oqton, Inc. | Product technology | |||||||
| Intangible assets: | |||||||
| Total intangible assets | $ 12,600 |
Acquisitions (Definite-Lived Intangible Assets) (Details) |
12 Months Ended | |
|---|---|---|
Jul. 01, 2023 |
Dec. 31, 2023 |
|
| Business Acquisition [Line Items] | ||
| Finite-lived intangible assets average useful life (in years) | 8 years 4 months 24 days | |
| Trade names | ||
| Business Acquisition [Line Items] | ||
| Finite-lived intangible assets average useful life (in years) | 7 years 7 months 6 days | |
| Customer relationships | ||
| Business Acquisition [Line Items] | ||
| Finite-lived intangible assets average useful life (in years) | 3 years 10 months 24 days | |
| Wematter AB | Trade names | ||
| Business Acquisition [Line Items] | ||
| Finite-lived intangible assets average useful life (in years) | 5 years | |
| Wematter AB | Product technology | ||
| Business Acquisition [Line Items] | ||
| Finite-lived intangible assets average useful life (in years) | 15 years | |
| Wematter AB | Customer relationships | ||
| Business Acquisition [Line Items] | ||
| Finite-lived intangible assets average useful life (in years) | 10 years |
Acquisitions (Acquisition, Pro Forma Information) (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Wematter AB | ||
| Business Acquisition [Line Items] | ||
| Pro forma net (loss) income attributable to 3D Systems Corporation | $ (362,890) | $ (127,635) |
Acquisitions (Fair Value of Consideration Transferred) (Details) - Kumovis GmbH $ in Thousands |
Apr. 01, 2022
USD ($)
|
|---|---|
| Business Acquisition [Line Items] | |
| Cash paid at acquisition | $ 34,098 |
| Deferred cash consideration | 3,628 |
| Estimated fair value of RNCI | 1,559 |
| Post-closing net working capital adjustment | 149 |
| Total fair value of consideration transferred | $ 39,434 |
Divestitures (Details) - USD ($) $ in Thousands |
1 Months Ended | 12 Months Ended | ||||
|---|---|---|---|---|---|---|
Aug. 24, 2021 |
Jan. 01, 2021 |
Sep. 30, 2021 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
| Proceeds from sale of assets and businesses, net of cash sold | $ 194 | $ 325 | $ 421,485 | |||
| Disposal group, not discontinued operation, gain (loss) on disposal, statement of income or comprehensive income | Nonoperating Income (Expense) | |||||
| Disposal Group, Disposed of by Sale, Not Discontinued Operations | On Demand Manufacturing | ||||||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
| Proceeds from sale of assets and businesses, net of cash sold | $ 82 | |||||
| Gain (loss) on disposition | $ 38,490 | |||||
| Disposal Group, Disposed of by Sale, Not Discontinued Operations | Simbionix | ||||||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
| Proceeds from sale of assets and businesses, net of cash sold | $ 305 | |||||
| Gain (loss) on disposition | 271,404 | |||||
| Ownership interest prior to disposal | 100.00% | |||||
| Cash transferred to the purchaser | $ 6,794 | |||||
| Gain for accumulated foreign currency translation gain | 2,431 | |||||
| Disposal Group, Disposed of by Sale, Not Discontinued Operations | GIBBSCam Cimatron | ||||||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
| Proceeds from sale of assets and businesses, net of cash sold | $ 64,173 | |||||
| Gain (loss) on disposition | 32,047 | |||||
| Ownership interest prior to disposal | 100.00% | |||||
| Cash transferred to the purchaser | $ 9,476 | |||||
| Gain for accumulated foreign currency translation gain | $ 6,481 | |||||
Revenue (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
| Outstanding performance obligation | $ 97,823 | ||
| Variable consideration | $ 46,000 | ||
| Warranty maintenance period | 1 year | ||
| Revenue | $ 488,069 | $ 538,031 | $ 615,639 |
| Total cost of sales | 291,648 | 323,798 | 351,861 |
| Amounts included in contract liability at the beginning of period | $ 25,980 | ||
| Recognized revenue | $ 31,038 | $ 30,302 | |
| One Customer | Revenue from Contract with Customer Benchmark | Customer Concentration Risk | |||
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
| Concentration risk (as a percentage) | 15.00% | 23.00% | 22.00% |
| Services | |||
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
| Revenue | $ 159,338 | $ 142,635 | $ 186,897 |
| Total cost of sales | 88,390 | $ 86,412 | 106,692 |
| Recognized revenue | $ 4,452 | ||
| Adjustment to basic loss per share (in dollars per share) | $ (0.03) | ||
| Adjustment to diluted loss per share (in dollars per share) | $ (0.03) | ||
| Collaborative Arrangement | |||
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
| Revenue | $ 17,040 | $ 13,497 | 6,804 |
| Total cost of sales | 14,095 | $ 11,063 | $ 5,888 |
| Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Axis]: 2024-01-01 | |||
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
| Outstanding performance obligation | $ 40,075 | ||
| Remaining performance obligation (as a percentage) | 93.00% | ||
| Performance obligations expected to be satisfied, expected timing | 12 months | ||
| Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Axis]: 2025-01-01 | |||
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
| Remaining performance obligation (as a percentage) | 5.00% | ||
| Performance obligations expected to be satisfied, expected timing | 1 year | ||
Revenue (Contract with Customer, Contract Asset, Contract Liability, and Receivable) (Details) - USD ($) $ in Thousands |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|---|
| Revenue from Contract with Customer [Abstract] | |||
| Accounts receivable, net of reserves | $ 101,497 | $ 93,886 | $ 106,540 |
| Contract assets | 12,147 | 677 | 184 |
| Contract liabilities | 40,075 | $ 38,349 | $ 45,552 |
| Long term contracts | $ 5,422 |
Revenue (Revenue by Geographic Region) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Disaggregation of Revenue [Line Items] | |||
| Total revenue | $ 488,069 | $ 538,031 | $ 615,639 |
| Americas | |||
| Disaggregation of Revenue [Line Items] | |||
| Total revenue | 282,742 | 308,516 | 344,619 |
| EMEA | |||
| Disaggregation of Revenue [Line Items] | |||
| Total revenue | 164,673 | 167,114 | 201,684 |
| APAC | |||
| Disaggregation of Revenue [Line Items] | |||
| Total revenue | 40,654 | 62,401 | 69,336 |
| United States (included in Americas above) | |||
| Disaggregation of Revenue [Line Items] | |||
| Total revenue | 278,268 | 304,503 | 341,123 |
| Germany (included in EMEA above) | |||
| Disaggregation of Revenue [Line Items] | |||
| Total revenue | $ 76,995 | $ 80,108 | $ 78,218 |
Inventories (Components Of Inventories) (Details) - USD ($) $ in Thousands |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Inventory Disclosure [Abstract] | ||
| Raw materials | $ 59,658 | $ 59,907 |
| Work in process | 4,708 | 4,972 |
| Finished goods and parts | 87,822 | 72,953 |
| Total inventories | $ 152,188 | $ 137,832 |
Inventories (Narrative) (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Inventory [Line Items] | ||
| Inventory reserve | $ 16,156 | $ 15,550 |
| Business exit costs | 450 | 1,670 |
| Long-term purchase commitment, amount | $ 1,692 | |
| Inventories | ||
| Inventory [Line Items] | ||
| Long-term purchase commitment, amount | 23,913 | |
| Capital Addition Purchase Commitments | ||
| Inventory [Line Items] | ||
| Long-term purchase commitment, amount | $ 369 | |
Property and Equipment (Schedule of Property and Equipment) (Details) - USD ($) $ in Thousands |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Property, Plant and Equipment [Line Items] | ||
| Total property and equipment | $ 233,079 | $ 206,202 |
| Less: Accumulated depreciation and amortization | (168,618) | (148,130) |
| Total property and equipment, net | 64,461 | 58,072 |
| Building | ||
| Property, Plant and Equipment [Line Items] | ||
| Total property and equipment | 94 | 94 |
| Machinery and equipment | ||
| Property, Plant and Equipment [Line Items] | ||
| Total property and equipment | 146,978 | 130,874 |
| Capitalized software | ||
| Property, Plant and Equipment [Line Items] | ||
| Total property and equipment | 27,793 | 25,952 |
| Office furniture and equipment | ||
| Property, Plant and Equipment [Line Items] | ||
| Total property and equipment | 6,342 | 5,540 |
| Leasehold improvements | ||
| Property, Plant and Equipment [Line Items] | ||
| Total property and equipment | 37,242 | 34,567 |
| Construction in progress | ||
| Property, Plant and Equipment [Line Items] | ||
| Total property and equipment | $ 14,630 | $ 9,175 |
| Minimum | Building | ||
| Property, Plant and Equipment [Line Items] | ||
| Useful Life (in years) | 25 years | |
| Minimum | Machinery and equipment | ||
| Property, Plant and Equipment [Line Items] | ||
| Useful Life (in years) | 2 years | |
| Minimum | Capitalized software | ||
| Property, Plant and Equipment [Line Items] | ||
| Useful Life (in years) | 3 years | |
| Minimum | Office furniture and equipment | ||
| Property, Plant and Equipment [Line Items] | ||
| Useful Life (in years) | 1 year | |
| Maximum | Building | ||
| Property, Plant and Equipment [Line Items] | ||
| Useful Life (in years) | 30 years | |
| Maximum | Machinery and equipment | ||
| Property, Plant and Equipment [Line Items] | ||
| Useful Life (in years) | 5 years | |
| Maximum | Capitalized software | ||
| Property, Plant and Equipment [Line Items] | ||
| Useful Life (in years) | 5 years | |
| Maximum | Office furniture and equipment | ||
| Property, Plant and Equipment [Line Items] | ||
| Useful Life (in years) | 5 years |
Property and Equipment (Narrative) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Property, Plant and Equipment [Line Items] | |||
| Depreciation expense | $ 21,346 | $ 21,096 | $ 24,242 |
| Loss on equity method investment | 304,698 | 4,095 | 1,676 |
| Property, Plant and Equipment | |||
| Property, Plant and Equipment [Line Items] | |||
| Loss on equity method investment | $ 1,354 | $ 18 | $ 788 |
Intangible Assets (Intangible Assets Other Than Goodwill) (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Finite-Lived Intangible Assets [Line Items] | ||
| Gross | $ 178,811 | $ 191,974 |
| Accumulated Amortization | (116,087) | (107,192) |
| Net | $ 62,724 | 84,782 |
| Weighted Average Useful Life Remaining (in years) | 8 years 4 months 24 days | |
| Customer relationships | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Gross | $ 54,565 | 51,137 |
| Accumulated Amortization | (52,796) | (48,695) |
| Net | $ 1,769 | 2,442 |
| Weighted Average Useful Life Remaining (in years) | 3 years 10 months 24 days | |
| Acquired technology | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Gross | $ 47,515 | 55,480 |
| Accumulated Amortization | (13,268) | (10,707) |
| Net | $ 34,247 | 44,773 |
| Weighted Average Useful Life Remaining (in years) | 8 years 7 months 6 days | |
| Trade names | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Gross | $ 26,938 | 35,930 |
| Accumulated Amortization | (14,059) | (12,455) |
| Net | $ 12,879 | 23,475 |
| Weighted Average Useful Life Remaining (in years) | 7 years 7 months 6 days | |
| Patent costs | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Gross | $ 19,579 | 18,673 |
| Accumulated Amortization | (11,350) | (10,909) |
| Net | $ 8,229 | 7,764 |
| Weighted Average Useful Life Remaining (in years) | 9 years 2 months 12 days | |
| Acquired patents | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Gross | $ 16,503 | 17,499 |
| Accumulated Amortization | (14,822) | (15,661) |
| Net | $ 1,681 | 1,838 |
| Weighted Average Useful Life Remaining (in years) | 12 years 10 months 24 days | |
| Other | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Gross | $ 13,711 | 13,255 |
| Accumulated Amortization | (9,792) | (8,765) |
| Net | $ 3,919 | $ 4,490 |
| Weighted Average Useful Life Remaining (in years) | 7 years 3 months 18 days |
Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands |
3 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2023 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Finite-Lived Intangible Assets [Line Items] | ||||
| Indefinite-lived intangible assets | $ 5,448 | |||
| Impairment of indefinite-lived intangible assets | $ 5,554 | |||
| Impairment, intangible asset, indefinite-lived (excluding goodwill), statement of income or comprehensive income | Impairments of goodwill and intangible assets | |||
| Impairment, intangible asset, finite-lived (excluding goodwill), statement of income or comprehensive income | Impairments of goodwill and intangible assets | |||
| Amortization expense | $ 12,067 | $ 15,480 | $ 10,469 | |
| Annual amortization expense for intangible assets | ||||
| Year one | 8,129 | |||
| Year two | 8,107 | |||
| Year three | 7,530 | |||
| Year four | 6,786 | |||
| Year five | $ 6,298 | |||
| Weighted Average Useful Life Remaining (in years) | 8 years 4 months 24 days | |||
| Trade names | ||||
| Finite-Lived Intangible Assets [Line Items] | ||||
| Finite lives impairment charge | $ 3,828 | |||
| Annual amortization expense for intangible assets | ||||
| Weighted Average Useful Life Remaining (in years) | 7 years 7 months 6 days | |||
| Acquired Technology and Trade Names | ||||
| Finite-Lived Intangible Assets [Line Items] | ||||
| Finite lives impairment charge | $ 13,597 | |||
Goodwill (Roll Forward) (Details) $ in Thousands |
12 Months Ended |
|---|---|
|
Dec. 31, 2023
USD ($)
| |
| Goodwill [Roll Forward] | |
| Balance at beginning of year, gross | $ 459,696 |
| Balance at beginning of year, dispositions, acquisitions and impairments | (74,384) |
| Balance at beginning of period | 385,312 |
| Acquisitions | 8,391 |
| Impairments | (279,808) |
| Foreign currency translation adjustments | 2,187 |
| Balance at ending of year, gross | 470,274 |
| Balance at ending of year, dispositions, acquisitions and impairments | (354,192) |
| Balance at end of period | 116,082 |
| Healthcare | |
| Goodwill [Roll Forward] | |
| Balance at beginning of year, gross | 143,431 |
| Balance at beginning of year, dispositions, acquisitions and impairments | (32,055) |
| Balance at beginning of period | 111,376 |
| Acquisitions | 1,005 |
| Impairments | 0 |
| Foreign currency translation adjustments | 3,701 |
| Balance at ending of year, gross | 148,137 |
| Balance at ending of year, dispositions, acquisitions and impairments | (32,055) |
| Balance at end of period | 116,082 |
| Industrial | |
| Goodwill [Roll Forward] | |
| Balance at beginning of year, gross | 316,265 |
| Balance at beginning of year, dispositions, acquisitions and impairments | (42,329) |
| Balance at beginning of period | 273,936 |
| Acquisitions | 7,386 |
| Impairments | (279,808) |
| Foreign currency translation adjustments | (1,514) |
| Balance at ending of year, gross | 322,137 |
| Balance at ending of year, dispositions, acquisitions and impairments | (322,137) |
| Balance at end of period | $ 0 |
Goodwill (Narrative) (Details) $ in Thousands |
12 Months Ended |
|---|---|
|
Dec. 31, 2023
USD ($)
| |
| Goodwill [Line Items] | |
| Impairments of goodwill and intangible assets | $ 279,808 |
| Industrial | |
| Goodwill [Line Items] | |
| Impairments of goodwill and intangible assets | $ 279,808 |
Investments and Note Receivable (Schedule of Equity Investments) (Details) - USD ($) $ in Thousands |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Equity Method Investments and Joint Ventures [Abstract] | ||
| Equity investments under the equity method of accounting | $ 5,247 | $ 0 |
| Equity investments without readily determinable fair values | 20,847 | 12,953 |
| Other | 200 | 200 |
| Total equity investments | 26,294 | 13,153 |
| Long-term note receivable | 535 | 515 |
| Total notes receivable | $ 535 | $ 515 |
Investments and Note Receivable (Narrative) (Details) - USD ($) |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
Jun. 30, 2023 |
Apr. 30, 2023 |
Feb. 28, 2023 |
Mar. 31, 2022 |
|
| Schedule of Equity Method Investments [Line Items] | |||||||
| Initial investment | $ 5,247,000 | $ 0 | |||||
| Total revenue | 488,069,000 | 538,031,000 | $ 615,639,000 | ||||
| Total cost of sales | 291,648,000 | 323,798,000 | 351,861,000 | ||||
| Accounts receivable, after allowance for credit loss, current | 101,497,000 | 93,886,000 | 106,540,000 | ||||
| Total carrying value of the VIEs | 20,847,000 | 12,953,000 | |||||
| Investment impairment charge | $ 0 | 2,900,000 | $ 0 | ||||
| Saudi Arabian Industrial Investments Company | |||||||
| Schedule of Equity Method Investments [Line Items] | |||||||
| Initial investment | $ 3,065,000 | $ 6,500,000 | |||||
| Escrow deposit | 3,435,000 | $ 3,435,000 | |||||
| Ownership percentage | 49.00% | 49.00% | |||||
| Saudi Arabian Industrial Investments Company | Related Party | |||||||
| Schedule of Equity Method Investments [Line Items] | |||||||
| Total revenue | $ 1,743,000 | ||||||
| Total cost of sales | 996,000 | ||||||
| Accounts receivable, after allowance for credit loss, current | 1,092,000 | ||||||
| Theradaptive, Inc | |||||||
| Schedule of Equity Method Investments [Line Items] | |||||||
| Total carrying value of the VIEs | $ 8,000,000 | ||||||
| Ownership percentage | 8.25% | ||||||
| Investment impairment charge | 0 | ||||||
| Theradaptive, Inc | Series A Preferred Stock | Preferred Stock | |||||||
| Schedule of Equity Method Investments [Line Items] | |||||||
| Ownership percentage | 9.15% | ||||||
| Entach Inc | |||||||
| Schedule of Equity Method Investments [Line Items] | |||||||
| Total carrying value of the VIEs | 6,900,000 | 6,900,000 | $ 10,000,000 | ||||
| Ownership percentage | 26.60% | ||||||
| Investment impairment charge | 0 | ||||||
| Fair value of investment | $ 9,670,000 | ||||||
| Historical impairment charges | 2,770,000 | $ 2,770,000 | |||||
| Payments to investment | $ 182,000 | ||||||
| Entach Inc | Warrant | |||||||
| Schedule of Equity Method Investments [Line Items] | |||||||
| Fair value of investment | $ 330,000 | ||||||
Leases (Narrative) (Details) |
12 Months Ended |
|---|---|
|
Dec. 31, 2023
building
| |
| Lessee, Lease, Description [Line Items] | |
| Number of buildings | 2 |
| Minimum | |
| Lessee, Lease, Description [Line Items] | |
| Remaining lease term | 1 year |
| Maximum | |
| Lessee, Lease, Description [Line Items] | |
| Remaining lease term | 15 years |
Leases (Components of Lease Cost) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Leases [Abstract] | |||
| Operating lease cost | $ 13,667 | $ 9,135 | $ 10,226 |
| Finance lease cost - amortization expense | 991 | 621 | 714 |
| Finance lease cost - interest expense | 478 | 196 | 238 |
| Short-term lease cost | 494 | 705 | 76 |
| Variable lease cost | 3,953 | 764 | 3,163 |
| Sublease income | (186) | (158) | (569) |
| Total | $ 19,397 | $ 11,263 | $ 13,848 |
Leases (Future Minimum Lease Payments) (Details) $ in Thousands |
Dec. 31, 2023
USD ($)
|
|---|---|
| Finance Leases | |
| 2024 | $ 2,818 |
| 2025 | 2,244 |
| 2026 | 2,155 |
| 2027 | 2,125 |
| 2028 | 2,115 |
| Thereafter | 6,786 |
| Total lease payments (undiscounted) | 18,243 |
| Less: imputed interest | (5,015) |
| Present value of lease liabilities | 13,228 |
| Operating Leases | |
| 2024 | 14,375 |
| 2025 | 12,876 |
| 2026 | 12,242 |
| 2027 | 9,937 |
| 2028 | 9,351 |
| Thereafter | 30,794 |
| Total lease payments (undiscounted) | 89,575 |
| Less: imputed interest | (22,856) |
| Present value of lease liabilities | $ 66,719 |
Leases (Supplemental Cash Flows) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Cash paid for amounts included in the measurement of lease liabilities: | |||
| Operating cash outflow for operating leases | $ 13,177 | $ 10,268 | $ 11,108 |
| Operating cash outflow for finance leases | 478 | 196 | 238 |
| Financing cash outflow for finance leases | $ 644 | $ 652 | $ 721 |
Leases (Lease Weighted Average) (Details) |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Weighted-average remaining lease term (in years) | ||
| Finance | 8 years | 6 years 2 months 12 days |
| Operating | 7 years 8 months 12 days | 7 years 8 months 12 days |
| Weighted-average discount rate | ||
| Finance | 8.96% | 4.83% |
| Operating | 7.23% | 6.49% |
Accrued and Other Liabilities (Schedule of Accrued Liabilities) (Details) - USD ($) $ in Thousands |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Payables and Accruals [Abstract] | ||
| Compensation and benefits | $ 13,196 | $ 19,814 |
| Accrued taxes | 10,373 | 10,694 |
| Legal contingencies | 3,487 | 9,948 |
| Product warranty liability | 2,106 | 3,677 |
| Current finance lease liabilities | 1,770 | 693 |
| Other accrued liabilities | 18,528 | 11,438 |
| Total | $ 49,460 | $ 56,264 |
| Finance lease, liability, current, statement of financial position, extensible list | Total | Total |
Accrued and Other Liabilities (Schedule of Recognized Warranty Revenue and Incurred Warranty Costs) (Details) - USD ($) $ in Thousands |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
Dec. 31, 2020 |
|
| Warrant Obligation [Roll Forward] | ||||
| Beginning Balance | $ 2,106 | $ 3,677 | $ 3,585 | $ 2,348 |
| Settlements made | (4,397) | (5,961) | (7,547) | |
| Accruals for warranties issued | 2,826 | 6,053 | 8,784 | |
| Ending Balance | $ 2,106 | $ 3,677 | $ 3,585 | $ 2,348 |
Accrued and Other Liabilities (Schedule Of Other Liabilities) (Details) - USD ($) $ in Thousands |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Payables and Accruals [Abstract] | ||
| Long-term employee indemnity | $ 4,790 | $ 4,817 |
| Long-term tax liability | 5,577 | 5,711 |
| Defined benefit pension obligation | 5,852 | 5,050 |
| Long-term deferred revenue | 2,028 | 4,974 |
| Earnout liability | 0 | 17,244 |
| Legal contingencies | 2,863 | 6,096 |
| Other long-term liabilities | 832 | 289 |
| Long-term finance lease liabilities | 11,458 | 3,280 |
| Total | $ 33,400 | $ 47,461 |
| Finance lease, liability, noncurrent, statement of financial position, extensible list | Total | Total |
Borrowings (Details) |
1 Months Ended | 12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
|
Nov. 16, 2021
USD ($)
day
$ / shares
|
Dec. 31, 2023
USD ($)
$ / shares
|
Dec. 31, 2026
USD ($)
|
Dec. 31, 2025
USD ($)
|
Dec. 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
$ / shares
|
Dec. 31, 2022
USD ($)
$ / shares
|
Dec. 31, 2021
USD ($)
$ / shares
|
|
| Line of Credit Facility [Line Items] | ||||||||
| Common stock, par value (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |||
| Amortization of debt issuance costs | $ 2,640,000 | $ 2,652,000 | $ 324,000 | |||||
| Deferred debt issuance dost, writeoff | $ 2,335,000 | |||||||
| Gain on debt extinguishment | 32,181,000 | $ 0 | $ 0 | |||||
| Forecast | ||||||||
| Line of Credit Facility [Line Items] | ||||||||
| Amortization of debt issuance costs | $ 1,690,000 | $ 1,917,000 | $ 1,907,000 | |||||
| Convertible Senior Notes Due 2026 | Convertible Debt | ||||||||
| Line of Credit Facility [Line Items] | ||||||||
| Issued amount | $ 460,000,000 | |||||||
| Interest rate (as a percentage) | 0.00% | |||||||
| Net proceeds from offering | $ 446,534,000 | |||||||
| Discounts and expenses | $ 13,466,000 | |||||||
| Effective interest rate | 0.594% | |||||||
| Percentage of conversion price | 130.00% | |||||||
| Threshold trading days | day | 20 | |||||||
| Threshold consecutive trading days | day | 30 | |||||||
| Threshold consecutive trading days, sale price per share | day | 5 | |||||||
| Measurement period | day | 5 | |||||||
| Threshold percentage of sales price per share | 98.00% | |||||||
| Conversion ratio | 0.0278364 | |||||||
| Conversion price (in dollars per share) | $ / shares | $ 35.92 | |||||||
| Redemption percentage of principal amount | 100.00% | |||||||
| Debt instrument, repurchased face amount | 135,130,000 | 135,130,000 | ||||||
| Repayments of convertible debt | 100,614,000 | |||||||
| Gain on debt extinguishment | 32,181,000 | |||||||
| Long-term debt | 324,870,000 | 324,870,000 | ||||||
| Unamortized deferred financing costs | 5,514,000 | 5,514,000 | ||||||
| Debt instrument, repurchase amount | $ 247,307,000 | $ 247,307,000 | ||||||
Employee Benefits (Narrative) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Retirement Benefits [Abstract] | |||
| Employer matching contribution percentage | 50.00% | ||
| Employee percentage of match | 6.00% | ||
| Employee benefit expenses | $ 2,558 | $ 2,254 | $ 2,039 |
Employee Benefits (Schedule of Reconciliation of Changes In Projected Benefit Obligation) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Reconciliation of benefit obligation: | |||
| Obligation as of January 1 | $ 5,215 | $ 9,074 | |
| Service cost | 59 | 103 | $ 187 |
| Interest cost | 220 | 99 | 130 |
| Actuarial (gain) loss | 541 | (3,387) | |
| Benefit payments | (173) | (162) | |
| Effect of foreign currency exchange rate changes | 165 | (512) | |
| Benefit obligation as of December 31 | 6,027 | 5,215 | $ 9,074 |
| Fair value of assets as of December 31 | 3,691 | 3,463 | |
| Funded status as of December 31 | $ (2,336) | $ (1,752) | |
Employee Benefits (Schedule of Amounts Recognized in Consolidated Balance Sheets) (Details) - USD ($) $ in Thousands |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Retirement Benefits [Abstract] | ||
| Other assets | $ 3,691 | $ 3,463 |
| Accrued and other liabilities | (175) | (165) |
| Other liabilities | (5,852) | (5,050) |
| Net liability | $ (2,336) | $ (1,752) |
Employee Benefits (Schedule of Accumulated And Projected Benefit Obligations) (Details) - USD ($) $ in Thousands |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|---|
| Retirement Benefits [Abstract] | |||
| Projected benefit obligation | $ 6,027 | $ 5,215 | $ 9,074 |
| Accumulated benefit obligation | $ 5,776 | $ 4,984 |
Employee Benefits (Schedule of Components of Net Periodic Benefit Costs and Other Amounts Recognized in Other Comprehensive Income) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Retirement Benefits [Abstract] | |||
| Service cost | $ 59 | $ 103 | $ 187 |
| Interest cost | 220 | 99 | 130 |
| Amortization of actuarial (gain) loss | (46) | 45 | 259 |
| Total net periodic pension cost | 233 | 247 | 576 |
| Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss): | |||
| Net (gain) loss | 541 | (3,387) | (234) |
| Amortization of prior years' unrecognized gain (loss) | 46 | (45) | (259) |
| Total recognized as other comprehensive income (loss), excluding tax | 587 | (3,432) | (493) |
| Total (gain) expense recognized in net periodic benefit cost and other comprehensive income (loss) | $ 820 | $ (3,185) | $ 83 |
| Defined benefit plan, net periodic benefit cost (credit) excluding service cost, statement of income or comprehensive income | Other Comprehensive Income (Loss), Net of Tax | Other Comprehensive Income (Loss), Net of Tax | Other Comprehensive Income (Loss), Net of Tax |
Employee Benefits (Schedule of Assumptions Used to Determine Benefit Obligations) (Details) |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Retirement Benefits [Abstract] | ||
| Discount rate | 3.60% | 4.20% |
| Rate of compensation | 3.00% | 3.00% |
Employee Benefits (Schedule of Estimated Future Benefit Payments) (Details) $ in Thousands |
Dec. 31, 2023
USD ($)
|
|---|---|
| Estimated future benefit payments for the years ending December 31: | |
| 2024 | $ 185 |
| 2025 | 187 |
| 2026 | 218 |
| 2027 | 244 |
| 2028 | 273 |
| 2029 through 2033 | $ 1,723 |
Redeemable Non-controlling Interest (Details) - USD ($) $ in Thousands |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
Apr. 01, 2022 |
|
| Redeemable Noncontrolling Interest Equity [Roll Forward] | ||||
| Beginning balance | $ 1,760 | $ 0 | ||
| Fair value at the date of acquisition | 1,559 | |||
| Net loss | (265) | (238) | ||
| Redemption value in excess of carrying value | 479 | 596 | $ 0 | |
| Translation adjustments | 32 | (157) | ||
| Ending balance | $ 2,006 | $ 1,760 | $ 0 | |
| Kumovis GmbH | ||||
| Redeemable Noncontrolling Interest [Line Items] | ||||
| Ownership percentage by existing shareholders | 6.25% | |||
Common Stock and Preferred Stock (Details) |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2023
vote
$ / shares
shares
|
Dec. 31, 2022
shares
|
|
| Equity [Abstract] | ||
| Common stock, shares authorized (in shares) | 220,000,000 | 220,000,000 |
| Common stock, number of votes per share | vote | 1 | |
| Common stock dividends declared (in dollars per share) | $ / shares | $ 0 | |
| Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Stock-Based Compensation (Narrative) (Details) $ / shares in Units, shares in Thousands |
3 Months Ended | 12 Months Ended | ||||
|---|---|---|---|---|---|---|
|
Oct. 04, 2022
USD ($)
shares
|
Dec. 01, 2021
USD ($)
milestone
shares
|
Dec. 31, 2023
USD ($)
shares
|
Dec. 31, 2023
USD ($)
tranche
$ / shares
shares
|
Dec. 31, 2022
USD ($)
shares
|
Dec. 31, 2021
USD ($)
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Vesting period | 3 years | |||||
| Granted (in shares) | shares | 25,235 | 25,235 | ||||
| Stock based compensation expense reversal | $ 18,392,000 | |||||
| Basic (in dollars per share) | $ / shares | $ 0.14 | |||||
| Diluted (in dollars per share) | $ / shares | $ 0.14 | |||||
| Stock-based compensation expense | $ 23,504,000 | $ 42,415,000 | $ 55,153,000 | |||
| Stock options exercisable (in shares) | shares | 0 | 0 | 0 | |||
| Unrecognized stock-based compensation expense | $ 0 | $ 0 | $ 0 | |||
| Share-Based Payment Arrangement, Tranche One | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Vesting percentage | 33.33% | |||||
| Share-Based Payment Arrangement, Tranche Two | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Vesting percentage | 33.33% | |||||
| Share-Based Payment Arrangement, Tranche Three | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Vesting percentage | 33.33% | |||||
| Volumetric | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Additional payments | $ 355,000,000 | $ 355,000,000 | ||||
| Number of milestones | milestone | 7 | |||||
| Earnout payment milestone | 65,000,000 | |||||
| Aggregate grant date fair value of outstanding and unvested | 4,536,000 | |||||
| Volumetric Biotechnologies, Inc. | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Additional payments | $ 355,000 | 355,000,000 | ||||
| Number of milestones | milestone | 7 | |||||
| Issuance of shares (in shares) | shares | 720 | |||||
| Stock-based compensation expense | (8,640,000) | 7,959,000 | 683,000 | |||
| Dp polar GmbH | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Additional payments | $ 2,229,000 | |||||
| Issuance of shares (in shares) | shares | 250 | |||||
| Stock-based compensation expense | $ 1,015,000 | 268,000 | 0 | |||
| Systemic Bio Phantom Unit Plan | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Share-based compensation arrangement by share-based payment award, equity instruments other than options, nonvested, number (in shares) | shares | 596 | 596 | ||||
| Phantom Share Units (PSUs) | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Vesting period | 1 year 10 months 24 days | |||||
| Unrecognized stock-based compensation expense | $ 41,161,000 | $ 41,161,000 | ||||
| Phantom Share Units (PSUs) | Systemic Bio Phantom Unit Plan | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Vesting period | 4 years | |||||
| Granted (in shares) | shares | 597 | |||||
| Deferred compensation | $ 544,000 | |||||
| Phantom Share Units (PSUs) | Minimum | Systemic Bio Phantom Unit Plan | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Unrecognized stock-based compensation expense, period for recognize | 40 months 15 days | |||||
| Phantom Share Units (PSUs) | Maximum | Systemic Bio Phantom Unit Plan | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Unrecognized stock-based compensation expense, period for recognize | 48 months | |||||
| Performance Shares | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Number of non-financial milestones | milestone | 4 | |||||
| Incentive Awards | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Stock-based compensation expense | $ 0 | $ 4,030,000 | $ 22,057,000 | |||
| Restricted Stock - Market Conditions | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Shares awarded (in shares) | shares | 1,106 | |||||
| Restricted Stock - Performance Measures | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Shares awarded (in shares) | shares | 966 | |||||
| Stock Options and Restricted Stock Awards | 2015 Plan | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Number of tranches | tranche | 2 | |||||
| Trading price for stock award, tranche one (in dollars per share) | $ / shares | $ 30 | |||||
| Trading price for stock award, tranche two (in dollars per share) | $ / shares | $ 40 | |||||
| Stock award tranche granting period | 90 days | |||||
Stock-Based Compensation (Schedule of Stock-based Compensation Expense) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Share-Based Payment Arrangement [Abstract] | |||
| Stock-based compensation expense | $ 23,504 | $ 42,415 | $ 55,153 |
| Tax benefit | $ 0 | $ 0 | $ 0 |
Stock-Based Compensation (Schedule of Shares and Units of Restricted Common Stock) (Details) - Restricted Stock Units (RSUs) shares in Thousands |
12 Months Ended |
|---|---|
|
Dec. 31, 2023
$ / shares
shares
| |
| Number of Shares/Units | |
| Outstanding at beginning of year — unvested (in shares) | shares | 5,015 |
| Granted (in shares) | shares | 4,439 |
| Cancelled (in shares) | shares | (1,118) |
| Vested (in shares) | shares | (2,154) |
| Outstanding at end of year — unvested (in shares) | shares | 6,182 |
| Weighted Average Grant Date Fair Value | |
| Outstanding at beginning of year — unvested (in dollars per share) | $ / shares | $ 18.19 |
| Granted (in dollars per share) | $ / shares | 10.26 |
| Cancelled (in dollars per share) | $ / shares | 15.45 |
| Vested (in dollars per share) | $ / shares | 13.09 |
| Outstanding at end of year — unvested (in dollars per share) | $ / shares | $ 14.77 |
Stock-Based Compensation (Schedule of Stock Option Activity) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Number of Shares | ||
| Outstanding at beginning of year (in shares) | 420 | |
| Granted (in shares) | 0 | |
| Exercised (in shares) | 0 | |
| Forfeited and expired (in shares) | 0 | |
| Outstanding at end of year (in shares) | 420 | 420 |
| Weighted Average Exercise | ||
| Outstanding at beginning of year (in dollars per share) | $ 13.26 | |
| Granted (in dollars per share) | 0 | |
| Exercised (in dollars per share) | 0 | |
| Forfeited and expired (in dollars per share) | 0 | |
| Outstanding at end of year (in dollars per share) | $ 13.26 | $ 13.26 |
| Weighted Average Remaining Contractual Term (in years) | 2 years 8 months 12 days | 3 years 8 months 12 days |
| Aggregate intrinsic value | $ 0 | $ 0 |
Interest and Other Income (Expense), Net (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
| Foreign exchange (loss) gain, net | $ (4,825) | $ (4,424) | $ 1,681 |
| Interest income (expense), net | 16,210 | 6,541 | (1,902) |
| Other income (expense), net | 32,307 | (5,907) | 352,830 |
| Total interest and other income (expense), net | 43,692 | (3,790) | 352,609 |
| Interest income | 19,511 | 9,352 | 438 |
| Interest expenses | (3,301) | (2,811) | (2,340) |
| Gain on debt extinguishment | 32,181 | 0 | $ 0 |
| On Demand Manufacturing, Simbionix USA And GIBBSCam Cimatron | |||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
| Other income (expense), net | $ 350,853 | ||
| Convertible Debt | Convertible Senior Notes Due 2026 | |||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
| Gain on debt extinguishment | 32,181 | ||
| Debt instrument, repurchased face amount | $ 135,130 | ||
Income Taxes (Schedule of Components of Income Before Income Taxes) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Income Tax Disclosure [Abstract] | |||
| Domestic | $ (239,971) | $ (110,610) | $ 308,514 |
| Foreign | (122,341) | (10,199) | 11,026 |
| (Loss) income before income taxes | $ (362,312) | $ (120,809) | $ 319,540 |
Income Taxes (Schedule of Components of Income Tax Provision) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Current: | |||
| U.S. federal | $ 135 | $ 119 | $ (8,675) |
| State | (50) | (498) | 2,097 |
| Foreign | 1,686 | 5,037 | 6,861 |
| Total | 1,771 | 4,658 | 283 |
| Deferred: | |||
| U.S. federal | 0 | 0 | 0 |
| State | 0 | 0 | 0 |
| Foreign | (2,412) | (2,518) | (2,795) |
| Total | (2,412) | (2,518) | (2,795) |
| Total income tax (benefit) provision | $ (641) | $ 2,140 | $ (2,512) |
Income Taxes (Schedule of Effective Tax Rate Reconciliation) (Details) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Effective Income Tax Rate Reconciliation, Percent [Abstract] | |||
| Tax provision based on the federal statutory rate | 21.00% | 21.00% | 21.00% |
| Increase in valuation allowances | (6.50%) | (10.70%) | (10.40%) |
| Change in carryforward attributes | 0.00% | (1.90%) | (0.70%) |
| Global intangible low-taxed income inclusion | (0.40%) | (0.50%) | 1.20% |
| Non-deductible expenses | 0.00% | (1.60%) | 1.40% |
| Non-deductible earnout expense | 1.00% | (2.80%) | 0.00% |
| Goodwill impairment charge | (14.60%) | 0.00% | 0.00% |
| Foreign income tax rate differential | 0.50% | (0.30%) | 0.00% |
| Deemed income related to foreign operations | (0.30%) | (0.20%) | 0.00% |
| Tax rate change | 0.00% | (1.20%) | (0.70%) |
| Employee share-based payments | (0.50%) | (1.60%) | (1.30%) |
| Other | (0.70%) | 0.40% | 0.00% |
| Deferred and payable adjustments | (1.30%) | (1.70%) | 1.40% |
| Non-deductible penalties | 0.00% | (2.50%) | 0.00% |
| State taxes, net of federal benefit, before valuation allowance | 0.70% | 1.40% | 1.00% |
| Return-to-provision adjustments | 0.20% | (0.20%) | (0.10%) |
| Other tax credits | 1.10% | 0.80% | (0.50%) |
| Uncertain tax positions and audit settlements | 0.00% | (0.20%) | (3.00%) |
| Divestitures | 0.00% | 0.00% | (10.10%) |
| Effective tax rate | 0.20% | (1.80%) | (0.80%) |
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Operating Loss Carryforwards [Line Items] | |||
| Difference in effective rate (as a percentage) | 20.80% | 22.80% | 21.80% |
| Deferred income tax assets | $ 47,875 | ||
| Net operating loss carryforwards | 347,035 | ||
| Loss carryforwards for U.S. federal income tax purposes | 80,645 | ||
| Loss carryforwards for U.S. state income tax purposes | 166,419 | ||
| Loss carryforwards for foreign income tax purposes | 99,971 | ||
| Tax credit carryforwards | 25,286 | $ 19,649 | |
| Unremitted earnings | 95,352 | ||
| Unrecognized deferred tax liability | 4,485 | ||
| Unrecognized tax benefits, period decrease | 271 | ||
| Unrecognized tax benefits, period increase | 1,733 | ||
| Unrecognized tax benefits that would impact effective tax rate | 5,577 | ||
| Domestic Tax Authority | |||
| Operating Loss Carryforwards [Line Items] | |||
| Net operating loss carryforwards | 7,381 | ||
| Research and experimentation tax credit carryforwards | 15,093 | ||
| Foreign tax credits | 6,628 | ||
| State and Local Jurisdiction | |||
| Operating Loss Carryforwards [Line Items] | |||
| Research and experimentation tax credit carryforwards | $ 3,565 | ||
Income Taxes (Schedule of Components of Net Deferred Income Tax Assets and Net Deferred Income Tax Liabilities) (Details) - USD ($) $ in Thousands |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Deferred income tax assets: | ||
| Intangible assets | $ 13,830 | $ 8,601 |
| Stock options and restricted stock awards | 5,409 | 6,091 |
| Reserves and allowances | 6,395 | 6,145 |
| Net operating loss carryforwards | 47,875 | 51,845 |
| Tax credit carryforwards | 25,286 | 19,649 |
| Accrued liabilities | 2,371 | 2,518 |
| Deferred revenue | 2,783 | 5,502 |
| Lease tax assets | 15,985 | 9,589 |
| Research expenditures capitalization | 30,601 | 11,140 |
| Other | 1,227 | 1,180 |
| Valuation allowance | (125,533) | (100,694) |
| Total deferred income tax assets | 26,229 | 21,566 |
| Deferred income tax liabilities: | ||
| Intangible assets | 8,688 | 9,090 |
| Property and equipment | 4,082 | 4,477 |
| Lease tax liabilities | 13,924 | 7,785 |
| Other | 467 | 807 |
| Total deferred income tax liabilities | 27,161 | 22,159 |
| Net deferred income tax liabilities | $ (932) | $ (593) |
Income Taxes (Schedule of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Unrecognized Tax Benefits | |||
| Balance at January 1 | $ (17,150) | $ (17,261) | $ (25,902) |
| Increases related to prior year tax positions | (99) | (192) | (467) |
| Decreases related to prior year tax positions | 107 | 508 | 8,886 |
| Decreases related to prior year tax positions as a result of lapse of statute | 271 | 145 | 371 |
| Decreases related to settlement | 0 | 0 | 1,043 |
| Increases related to current year tax positions | (1,733) | (269) | (553) |
| Increases related to acquired tax positions | 0 | (119) | (639) |
| Decreases related to acquired tax positions | 0 | 38 | 0 |
| Balance at December 31 | (18,604) | (17,150) | (17,261) |
| Unrecognized tax benefits, income tax penalties and interest expense | $ 323 | $ 283 | $ 208 |
Income Taxes (Schedule of Deferred Income Tax Asset Valuation Allowance) (Details) - Deferred income tax asset valuation allowance - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
| Balance at beginning of year | $ 100,694 | $ 91,165 | $ 123,113 |
| Additions (reductions) charged to expense | 23,606 | 12,848 | (31,948) |
| Other | 1,233 | (3,319) | 0 |
| Balance at end of year | $ 125,533 | $ 100,694 | $ 91,165 |
Net Income (Loss) Per Share (Schedule of Net Income (Loss) Per Share Reconciliation) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Numerator for basic and diluted net (loss) income per share: | |||
| Net (loss) income attributable to 3D Systems Corporation | $ (362,688) | $ (122,711) | $ 322,052 |
| Redeemable non-controlling interest redemption value in excess of carrying value | (479) | (596) | 0 |
| Net (loss) income attributable to common stock shareholders | $ (363,167) | $ (123,307) | $ 322,052 |
| Denominator for net (loss) income per share: | |||
| Weighted average shares - basic (in shares) | 129,944 | 127,818 | 122,867 |
| Dilutive effect of shares issuable under stock based compensation and other plans (in shares) | 0 | 0 | 3,467 |
| Weighted average shares - diluted (in shares) | 129,944 | 127,818 | 126,334 |
| Net (loss) income per share – basic (in dollars per share) | $ (2.79) | $ (0.96) | $ 2.62 |
| Net (loss) income per share – diluted (in dollars per share) | $ (2.79) | $ (0.96) | $ 2.55 |
| Restricted Stock | |||
| Denominator for net (loss) income per share: | |||
| Dilutive effect of shares issuable under stock based compensation and other plans (in shares) | 2,755 | ||
| Incentive Awards | |||
| Denominator for net (loss) income per share: | |||
| Dilutive effect of shares issuable under stock based compensation and other plans (in shares) | 712 | ||
Net Income (Loss) Per Share (Equity Awards) (Details) - shares shares in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||
| Shares excluded from diluted loss per share calculation (in shares) | 6,602 | 5,435 | 1,779 |
| Restricted stock and restricted stock units | |||
| Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||
| Shares excluded from diluted loss per share calculation (in shares) | 6,182 | 5,015 | 1,779 |
| Stock options | |||
| Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||
| Shares excluded from diluted loss per share calculation (in shares) | 420 | 420 | 0 |
| Incentive Awards | |||
| Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||
| Shares excluded from diluted loss per share calculation (in shares) | 341 | ||
Net Income (Loss) Per Share (Narrative) (Details) - USD ($) $ / shares in Units, shares in Thousands |
12 Months Ended | |||
|---|---|---|---|---|
Nov. 16, 2021 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Subsidiary, Sale of Stock [Line Items] | ||||
| Shares excluded from diluted loss per share calculation (in shares) | 6,602 | 5,435 | 1,779 | |
| Share price (in dollars per share) | $ 12 | |||
| Restricted Stock | ||||
| Subsidiary, Sale of Stock [Line Items] | ||||
| Shares excluded from diluted loss per share calculation (in shares) | 718 | |||
| Incentive Awards | ||||
| Subsidiary, Sale of Stock [Line Items] | ||||
| Shares excluded from diluted loss per share calculation (in shares) | 341 | |||
| Dp polar GmbH | ||||
| Subsidiary, Sale of Stock [Line Items] | ||||
| Shares excluded from diluted loss per share calculation (in shares) | 138 | 22 | ||
| Convertible Senior Notes Due 2026 | Senior Notes | ||||
| Subsidiary, Sale of Stock [Line Items] | ||||
| Issued amount | $ 460,000,000 | |||
| Interest rate (as a percentage) | 0.00% | |||
| Conversion price (in dollars per share) | $ 35.92 | |||
Accumulated Other Comprehensive Loss (Schedule Of Accumulated Other Comprehensive Loss By Component) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
| Beginning balance | $ 749,944 | $ 842,381 | $ 430,723 |
| Other comprehensive income (loss) | 9,384 | (19,510) | (29,951) |
| Amounts reclassified from accumulated other comprehensive income (loss) | 188 | 3,394 | 721 |
| Ending balance | 426,753 | 749,944 | 842,381 |
| Accumulated Other Comprehensive Income (Loss) | |||
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
| Beginning balance | (53,822) | (37,706) | (8,476) |
| Ending balance | (44,250) | (53,822) | (37,706) |
| Foreign currency translation adjustment | |||
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
| Beginning balance | (54,194) | (35,464) | (4,831) |
| Other comprehensive income (loss) | 9,630 | (18,730) | (30,633) |
| Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 0 | 0 |
| Ending balance | (44,564) | (54,194) | (35,464) |
| Defined benefit pension plan | |||
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
| Beginning balance | 700 | (2,242) | (2,924) |
| Other comprehensive income (loss) | (354) | 2,777 | 682 |
| Amounts reclassified from accumulated other comprehensive income (loss) | (32) | 165 | 0 |
| Ending balance | 314 | 700 | (2,242) |
| Derivative financial instruments | |||
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
| Beginning balance | 0 | 0 | (721) |
| Other comprehensive income (loss) | 0 | 0 | 0 |
| Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 0 | 721 |
| Ending balance | 0 | 0 | 0 |
| Unrealized loss on short-term investments | |||
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
| Beginning balance | (328) | 0 | 0 |
| Other comprehensive income (loss) | 108 | ||
| Amounts reclassified from accumulated other comprehensive income (loss) | 220 | 3,229 | 0 |
| Ending balance | $ 0 | $ (328) | $ 0 |
Segment Information (Operating Results by Segment) (Details) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2023
USD ($)
segment
|
Dec. 31, 2022
USD ($)
|
Dec. 31, 2021
USD ($)
|
|
| Segment Reporting Information [Line Items] | |||
| Number of reportable segments | segment | 2 | ||
| Revenue | $ 488,069 | $ 538,031 | $ 615,639 |
| Adjusted EBITDA | (26,258) | (5,781) | |
| Net (loss) income attributable to 3D Systems Corporation | (362,688) | (122,711) | 322,052 |
| Interest income, net | (16,210) | (6,541) | 1,902 |
| (Benefit) provision for income taxes | (641) | 2,140 | (2,512) |
| Depreciation expense | 21,346 | 21,096 | 24,242 |
| Amortization expense | 12,067 | 15,480 | |
| Stock-based compensation expense | 23,504 | 42,489 | |
| Acquisition and divestiture-related expense | (1,070) | 12,360 | |
| Legal expenses | 8,053 | 19,062 | |
| Restructuring expense | 11,487 | 733 | |
| Net loss attributable to redeemable non-controlling interest | (265) | (238) | 0 |
| Loss on equity method investment, net of income taxes | 1,282 | 0 | $ 0 |
| Goodwill and other assets impairment charges | 304,359 | 18 | |
| Gain on repurchase of debt | (32,181) | 0 | |
| Other non-operating expense | 4,699 | 10,331 | |
| Operating Segments | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 488,069 | 538,031 | |
| Adjusted EBITDA | 57,648 | 79,997 | |
| Corporate and other | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 0 | 0 | |
| Adjusted EBITDA | (83,906) | (85,778) | |
| Healthcare | Operating Segments | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 213,216 | 260,988 | |
| Adjusted EBITDA | 38,520 | 55,783 | |
| Industrial | Operating Segments | |||
| Segment Reporting Information [Line Items] | |||
| Revenue | 274,853 | 277,043 | |
| Adjusted EBITDA | $ 19,128 | $ 24,214 | |
Segment Information (Schedule of Long-Lived Assets by Geographic Region) (Details) - USD ($) $ in Thousands |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Long-lived assets | $ 135,041 | $ 100,818 |
| United States | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Long-lived assets | 94,734 | 66,424 |
| Belgium | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Long-lived assets | 21,524 | 18,768 |
| Other foreign entities | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Long-lived assets | $ 18,783 | $ 15,626 |
Commitments and Contingencies (Details) $ in Thousands |
1 Months Ended | 7 Months Ended | 12 Months Ended | |||
|---|---|---|---|---|---|---|
|
Jun. 02, 2023
USD ($)
|
Jun. 30, 2024 |
May 31, 2024
USD ($)
|
Feb. 28, 2023
USD ($)
installment
|
Jul. 26, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
|
| Loss Contingencies [Line Items] | ||||||
| Obligation to purchase inventory | $ 14,682 | |||||
| Purchase obligation, to be purchase within next year | 8,023 | |||||
| Subsequent Event | ||||||
| Loss Contingencies [Line Items] | ||||||
| Loss contingency, damages sought, value | $ 800 | |||||
| Financial Standby Letter of Credit | ||||||
| Loss Contingencies [Line Items] | ||||||
| Guarantor obligations | $ 1,161 | |||||
| Guarantor obligations, extension term, (in years) | 1 year | |||||
| Financial Standby Letter of Credit | Subsequent Event | ||||||
| Loss Contingencies [Line Items] | ||||||
| Guarantor obligations, extension term, (in years) | 1 year | |||||
| Export Controls and Government Contracts Compliance | ||||||
| Loss Contingencies [Line Items] | ||||||
| Amount awarded | $ 15,048 | |||||
| Payments for legal settlements | $ 8,548 | |||||
| Export Controls and Government Contracts Compliance | Directorate of Defense Trade Controls | ||||||
| Loss Contingencies [Line Items] | ||||||
| Amount awarded | $ 10,000 | |||||
| Number of installment payments | installment | 3 | |||||
| Payment period | 3 years | 3 years | ||||
| Payments for legal settlements | $ 2,294 | |||||
| Suspended penalty amount | 10,000 | |||||
| Export Controls and Government Contracts Compliance | Directorate of Defense Trade Controls | Subsequent Event | ||||||
| Loss Contingencies [Line Items] | ||||||
| Amount awarded | $ 10,000 | |||||
| Payments for legal settlements | $ 3,500 | |||||
| Export Controls and Government Contracts Compliance | Bureau of Industry and Security oThe Department of Commerce | ||||||
| Loss Contingencies [Line Items] | ||||||
| Amount awarded | $ 2,778 | |||||
| Export Controls and Government Contracts Compliance | U.S. Department Of Justice | ||||||
| Loss Contingencies [Line Items] | ||||||
| Amount awarded | $ 2,270 | |||||
| Securities Class Action | ||||||
| Loss Contingencies [Line Items] | ||||||
| Amount awarded | 4,000 | |||||
| Payments for legal settlements | 749 | |||||
| Payments for legal settlements, paid by insurance | 3,251 | |||||
| Fees and expenses | $ 1,950 | |||||
Fair Value Measurements - Narrative (Details) $ in Thousands |
Dec. 31, 2023
USD ($)
|
|---|---|
| Money market funds | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Cash equivalents | $ 255,984 |
Fair Value Measurements (Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis) (Details) $ in Thousands |
12 Months Ended |
|---|---|
|
Dec. 31, 2022
USD ($)
| |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Cost Basis | $ 412,949 |
| Unrealized Gains (Losses) | (328) |
| Fair Value | 412,621 |
| Corporate bonds | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Cost Basis | 745 |
| Fair Value | 743 |
| Cash and Cash Equivalents | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Fair Value | 232,018 |
| Short-term Investments and Marketable Securities | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Fair Value | 180,603 |
| Level 1 | Money market funds | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Cost Basis | 232,018 |
| Unrealized Gains (Losses) | 0 |
| Fair Value | 232,018 |
| Level 1 | Cash and Cash Equivalents | Money market funds | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Fair Value | 232,018 |
| Level 1 | Short-term Investments and Marketable Securities | Money market funds | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Fair Value | $ 0 |
| Level 2 | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Weighted average maturity | 1 year 3 months 18 days |
| Level 2 | Certificates of deposit | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Cost Basis | $ 990 |
| Unrealized Gains (Losses) | 6 |
| Fair Value | 996 |
| Level 2 | Commercial paper | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Cost Basis | 1,281 |
| Unrealized Gains (Losses) | 6 |
| Fair Value | 1,287 |
| Level 2 | Short-term bond mutual funds | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Cost Basis | 100,242 |
| Unrealized Gains (Losses) | (99) |
| Fair Value | 100,143 |
| Level 2 | Corporate bonds | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Cost Basis | 78,418 |
| Unrealized Gains (Losses) | (241) |
| Fair Value | 78,177 |
| Level 2 | Cash and Cash Equivalents | Certificates of deposit | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Fair Value | 0 |
| Level 2 | Cash and Cash Equivalents | Commercial paper | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Fair Value | 0 |
| Level 2 | Cash and Cash Equivalents | Short-term bond mutual funds | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Fair Value | 0 |
| Level 2 | Cash and Cash Equivalents | Corporate bonds | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Fair Value | 0 |
| Level 2 | Short-term Investments and Marketable Securities | Certificates of deposit | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Fair Value | 996 |
| Level 2 | Short-term Investments and Marketable Securities | Commercial paper | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Fair Value | 1,287 |
| Level 2 | Short-term Investments and Marketable Securities | Short-term bond mutual funds | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Fair Value | 100,143 |
| Level 2 | Short-term Investments and Marketable Securities | Corporate bonds | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Fair Value | $ 78,177 |
Restructuring and Exit Activity Costs (Narrative) (Details) - USD ($) $ in Thousands |
12 Months Ended | |||
|---|---|---|---|---|
May 31, 2023 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Restructuring Cost and Reserve [Line Items] | ||||
| Reduction of workforce, percentage | 6.00% | |||
| Restructuring charges | $ 8,242 | |||
| Impairments of assets | 304,698 | $ 4,095 | $ 1,676 | |
| Selling, general and administrative | 210,172 | $ 244,181 | 227,697 | |
| Severance, termination benefits and other employee costs | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Restructuring charges | 8,242 | |||
| Impairments of assets | 628 | |||
| Facility Closing | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Selling, general and administrative | $ 1,121 | |||
| Minimum | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Restructuring expected cost | 8,500 | |||
| Maximum | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Restructuring expected cost | $ 10,000 | |||
Restructuring and Exit Activity Costs (Restructuring Charges) (Details) $ in Thousands |
12 Months Ended |
|---|---|
|
Dec. 31, 2023
USD ($)
| |
| Restructuring Reserve [Roll Forward] | |
| Total | $ 8,242 |
| Severance, termination benefits and other employee costs | |
| Restructuring Reserve [Roll Forward] | |
| Accrued liability, beginning balance | 0 |
| Total | 8,242 |
| Amounts settled with cash | 4,309 |
| Accrued liability, ending balance | $ 3,933 |
Restructuring and Exit Activity Costs (Costs Incurred) (Details) $ in Thousands |
12 Months Ended |
|---|---|
|
Dec. 31, 2023
USD ($)
| |
| Restructuring Cost and Reserve [Line Items] | |
| Total | $ 8,242 |
| Total cost of sales | |
| Restructuring Cost and Reserve [Line Items] | |
| Total | 1,401 |
| Selling, general and administrative | |
| Restructuring Cost and Reserve [Line Items] | |
| Total | 5,598 |
| Research and development | |
| Restructuring Cost and Reserve [Line Items] | |
| Total | $ 1,243 |
Subsequent Events (Details) |
1 Months Ended | 7 Months Ended | 12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jul. 08, 2024
USD ($)
|
Apr. 29, 2024
USD ($)
shareholder
milestone
|
Mar. 29, 2024
USD ($)
|
Mar. 08, 2024
USD ($)
|
Feb. 24, 2024
USD ($)
milestone
|
Dec. 01, 2021
USD ($)
milestone
|
May 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
Jul. 26, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
Dec. 31, 2021
USD ($)
|
|
| Export Controls and Government Contracts Compliance | |||||||||||
| Subsequent Event [Line Items] | |||||||||||
| Payments for legal settlements | $ 8,548,000 | ||||||||||
| Export Controls and Government Contracts Compliance | Directorate of Defense Trade Controls | |||||||||||
| Subsequent Event [Line Items] | |||||||||||
| Payments for legal settlements | 2,294,000 | ||||||||||
| Suspended penalty amount | 10,000,000 | ||||||||||
| Volumetric Biotechnologies, Inc. | |||||||||||
| Subsequent Event [Line Items] | |||||||||||
| Additional payments | $ 355,000 | $ 355,000,000 | |||||||||
| Number of milestones | milestone | 7 | ||||||||||
| Convertible Senior Notes Due 2026 | Convertible Debt | |||||||||||
| Subsequent Event [Line Items] | |||||||||||
| Debt instrument, repurchased face amount | $ 135,130,000 | $ 135,130,000 | |||||||||
| Repayments of convertible debt | $ 100,614,000 | ||||||||||
| Subsequent Event | Saudi Arabian Industrial Investments Company | |||||||||||
| Subsequent Event [Line Items] | |||||||||||
| Payments to investment | $ 2,450,000 | ||||||||||
| Subsequent Event | Export Controls and Government Contracts Compliance | Directorate of Defense Trade Controls | |||||||||||
| Subsequent Event [Line Items] | |||||||||||
| Payments for legal settlements | $ 3,500,000 | ||||||||||
| Subsequent Event | Volumetric Biotechnologies, Inc. | |||||||||||
| Subsequent Event [Line Items] | |||||||||||
| Milestones terminated | milestone | 4 | ||||||||||
| Reduced liability | $ 175,000,000 | $ 175,000,000 | |||||||||
| Remaining milestones | milestone | 3 | 3 | |||||||||
| Acquisition related earnout amount to be recovered | $ 355,000,000 | ||||||||||
| Negotiation period | 30 days | ||||||||||
| Number of shareholders that terminated employment | shareholder | 2 | ||||||||||
| Proposed settlement amount | $ 1,500,000 | ||||||||||
| Subsequent Event | Convertible Senior Notes Due 2026 | Convertible Debt | |||||||||||
| Subsequent Event [Line Items] | |||||||||||
| Debt instrument, repurchased face amount | $ 110,492,000 | ||||||||||
| Repayments of convertible debt | $ 87,218,000 | ||||||||||