
3D Techniques Company (NYSE:DDD) Needham Development Convention January 14, 2025 11:45 AM ET
Firm Members
Jeff Graves – CEO
Jeff Creech – CFO
Convention Name Members
Jim Ricchiuti – Needham
Jim Ricchiuti
Good morning. Thanks once more for becoming a member of us on the twenty seventh Annual Needham Development Convention. So, at the moment we’ll have a dialogue with the administration of 3D Techniques. We’ve got with us the corporate’s CEO, Jeff Graves, and CFO, Jeff Creech. My title’s Jim Ricchiuti, Senior Analyst within the fairness analysis division in Needham, protecting superior industrial expertise firms. So, gents, welcome.
Jeff Graves
Thanks, Jim.
Jeff Creech
Thanks.
Query-and-Reply Session
Q – Jim Ricchiuti
So, a query for Jeff Graves. So, final yr, right now, we have been coming off this, honest to say, a tumultuous yr for the business, the 3D printing business. However honest to say, ‘24 was difficult in different respects, proper, Jeff? How would you characterize the yr for the business and only for 3D Techniques?
Jeff Graves
I am trying to find a phrase past tumultuous, Jim. It was a continuation. It was in all probability a number of the worst six quarters that we have skilled. Properly, the tail finish of that began displaying some indicators of life, which have been encouraging. However essentially, our complete business, and positively we weren’t immune from this, there was a dearth of CapEx spending by our prospects, principally for capability enlargement, and it actually hit us laborious by way of income. So, everyone was in a price financial savings mode. Our laborious resolution — we have got the broadest expertise providing within the business and that R&D spend to remain present or advance hopefully on all these platforms is one thing you have to preserve by the up and down occasions. So we attempt to preserve a steadiness sheet robust sufficient to verify we are able to at all times try this. However it was a troublesome yr, little doubt about it. We did our