3D Systems Corporation

On March 26, 2025, 3D Systems released its fourth quarter and full year 2024 financial results, missing consensus estimates in non-GAAP earnings-per-share and sales revenue, citing “lowers hardware systems sales due to macroeconomic factors that are negatively impacting demand.” The Company also reported a “$9 million revenue reduction in Q4 driven by a change in accounting estimates for [the Company's] Regenerative Medicine program." The Company disclosed that "[t]his change in estimate [was] related to the now anticipated use of pre-clinical human decedent testing . . . which led to refinement of the milestone technical criteria."

On this news, 3D Systems’ stock price fell $0.57, or 21%, to close at $2.15 per share on March 27, 2025, thereby injuring investors.

Then, on May 12, 2025, after market hours, 3D Systems released its first quarter 2025 financial results, missing consensus estimates due, in part, to a decline in material sales, mostly due to inventory management issues in the dental portion of its Healthcare Solutions segment. The Company further disclosed that it was withdrawing its full-year 2025 outlook, citing prolonged softness in customer capital spending and macroeconomic uncertainty.

On this news, 3D Systems’ stock price fell $0.68, or 26.6%, to close at $1.87 per share on May 13, 2025, thereby injuring investors further.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) 3D Systems had understated the impact of weakened customer spending on the Company’s business, while overstating its resilience in challenging industry conditions; (2) the updated milestone criteria in the United Partnership would negatively impact the Company’s Regenerative Medicine Program revenue; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.