ROCK HILL, SC – 3D Systems (NYSE: ) has received FDA approval for a new dental product, marking a major advance in the field of digital dentistry. The company’s latest innovation, a multi-material, monolithic jetted denture solution, is designed to enhance the efficiency of dental laboratories and improve the patient experience with more durable and esthetically pleasing dentures.
The FDA’s 510(k) clearance authorizes the use of two proprietary materials by 3D Systems: NextDent® Jet Denture Teeth and NextDent® Jet Denture Base. These materials, combined with the company’s injection molding technology, software and services, enable the production of one-piece dentures that have excellent fracture resistance and visual appeal.
Glidewell, a leading dental laboratory, was an early adopter of this technology through its partnership with 3D Systems. The lab integrates the jetted denture solution into its workflow, aiming to offer a superior denture product to its customers. “We have worked with 3D Systems for many years and their use of digital dental solutions has helped us achieve tremendous success for our patients,” said Stephenie Goddard, CEO of Glidewell.
The introduction of this technology is expected to significantly expand 3D Systems’ footprint in the dental market. With the global market for 3D printed dentures projected to exceed $2 billion by 2028, the company’s digital dentistry solutions are well-positioned to meet the growing demand for personalized and high-quality dental prosthetics.
The jetted denture solution is part of 3D Systems’ strategic initiative to expand its dental portfolio, focusing on aligning, protecting, repairing and replacing teeth. “Our jetted denture solution reflects our commitment to the dental laboratory by offering a complete system that enhances automation and profitability within a traditionally labor-intensive workflow,” said Neil McCaffrey, vice president and general manager, dentistry, 3D Systems.
This development is consistent with the growing trend of digitization in dental clinics worldwide. The benefits of 3D printing in prosthetics include reduced material waste, lower capital investment, faster turnaround times, and improved comfort and fit for patients.
For more information about 3D Systems’ jet denture solution, the company directs interested parties to its website. This announcement is based on a press release.
In other recent news, 3D Systems has made significant progress. The company received FDA clearance for TOTAL ANKLE Patient-Matched Guides, a product developed in collaboration with Smith+Nephew to improve the accuracy of ankle replacement procedures. On the financial front, despite lower consolidated revenue for the first half of 2024 due to weaker hardware sales, the company secured a nearly $250 million dental contract and forecast full-year revenue of between $450 million and $460 million.
Analysts at Lake Street Capital Markets, Loop Capital and Cantor Fitzgerald have adjusted their price targets on 3D Systems, maintaining Buy, Hold and Overweight ratings respectively. This comes after the company amended its 2015 Incentive Plan, introducing 4 million new shares available for awards and extending the plan to 2034, and regained compliance with New York Stock Exchange listing standards.
In terms of partnerships, Baker Hughes, a global energy technology company, has successfully implemented Oqton Manufacturing OS, an additive manufacturing software solution from Oqton, a subsidiary of 3D Systems. This implementation has led to significant advances in efficiency and cost reduction. These recent developments highlight 3D Systems’ continued efforts to expand and innovate its business.
InvestingPro Insights
As 3D Systems (NYSE:DDD) gathers FDA clearance for its innovative dental product, the financial metrics and market sentiment surrounding the company provide a broader context for evaluating its potential growth trajectory. According to recent data, 3D Systems has a market capitalization of $320.58 million, indicating its size within the industry. Despite the company’s technological advances, InvestingPro Tips suggests caution due to its significant cash burn rate and analysts’ downward revisions to earnings for the next period. Additionally, the company’s valuation implies poor free cash flow performance, which could be troubling for investors looking for strong cash-flow potential.
While the company has seen significant performance over the past week, with a total price return of 26.02%, share price movements have been quite volatile, which could indicate higher risk for investors. In addition, the stock price has seen a remarkable decline in the past year, with a 51.19% decline in total performance. This performance is in line with the broader downward trend in prices over the past decade, as highlighted by an InvestingPro tip. 3D Systems’ current share price is $2.4, which is 35.04% from its 52-week high, reflecting the recent decline in its share value.
Investors interested in 3D Systems’ financial health may note that the company is operating with a moderate level of debt and its liquid assets exceed current liabilities, which could provide some financial flexibility in the near term. However, analysts do not expect the company to be profitable this year and has not been profitable in the past twelve months, highlighting the importance of strategic growth initiatives, such as the FDA-approved dental product, to potentially reverse that trend.
For those looking for a deeper dive into 3D Systems’ financial outlook and strategic positioning, InvestingPro offers a comprehensive suite of additional advice. There are currently 14 additional InvestingPro Tips, which provide a more nuanced understanding of company performance and future prospects, available at Investing.com/pro/DDD.
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