3d Systems (DDD) risk factors, FY2025 10-K

3d Systems's FY2025 10-K, filed Mar 09, 2026, lists 23 risk factors. Against the prior year's 25: 3 new, 5 dropped, 10 substantially reworded.

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Risk factors listed
230 groups
New this year
3vs 25 last year
Dropped
5since the prior 10-K
Substantially reworded
10of those kept
Section length
10k wordsItem 1A

What the changes say

  • Customer concentration shifted from one large client to two Healthcare Solutions clients representing 12.2% and 11.4% of revenue.
  • Climate and weather supply chain disruptions were added as a new risk.
  • Export control settlement obligations with BIS, DDTC, and ITAR were resolved.

What changed since the prior 10-K

New

  • New

    Climate-related physical and market risks may disrupt our operations and supply chain, increase our costs, and adversely affect our results of operations and financial condition

    Extreme weather and rising temperatures could disrupt our operations, damage facilities, or impair product quality during manufacturing and storage.

  • New

    If we do not generate net cash flow from operations and if we are unable to raise additional capital, our financial condition could be adversely affected and we may be unable to execute our business strategy

    If we fail to generate operating cash flow or raise capital, we may be forced to sell assets, cut R&D, or issue dilutive equity.

  • New

    The costs and burdens of compliance with laws and regulations has been and can, in the future, be significant, and we may face investigations and proceedings from governmental entities or third parties in the future

    We resolved export control investigations with the BIS, DDTC, and ITAR regarding unauthorized technical data exports to China between 2012 and 2017.

Dropped

  • Dropped

    Our uneven sales cycle makes planning and inventory management difficult and future financial results less predictable

  • Dropped

    We cannot assure you that we will generate cash from operations or identify and secure other potential sources to fund future working capital needs and meet capital expenditure requirements

  • Dropped

    The indenture governing the Notes (the "Indenture") contains covenants that impose significant restrictions on us, and the failure to comply with these covenants could result in an event of default under these instruments

  • Dropped

    In February 2023, the Company settled these matters with all three agencies. See Note 22, “Commitments and Contingencies,” to our consolidated financial statements included in Part II, Item 8, “Financial Statements and Supplementary Data” of this Form 10-K for additional information

    Uneven quarterly sales cycles make inventory management and financial predictions difficult.

  • Dropped

    We are no longer eligible to use a Form S-3 registration statement, which could impair our capital-raising activities

Reworded

  • 74% rewritten

    We are subject to complex government laws and regulations relating to certain product sets and failure to meet the stringent requirements could impact our business operations and financial position

    Removed a sentence mentioning compliance failure regarding settlement agreements with the U.S.

  • 65% rewritten

    Changes in business conditions may cause our goodwill, intangible assets, long-lived tangible assets, or right-of-use assets to become impaired

    No substantive textual changes detected in asset impairment criteria.

  • 59% rewritten

    The loss of, continued reduction to, or substantial decline in revenue from larger clients could have a material adverse effect on our revenues, profitability and liquidity

    Updated customer concentration from one customer representing 16% of revenue in 2024 to two Healthcare Solutions customers representing 12.2% and 11.4% in 2025.

    Was: The loss of, continued reduction or substantial decline in revenue from larger clients could have a material adverse effect on our revenues, profitability and liquidity

  • 45% rewritten

    Operational & Financial Risk Factors

    Updated macroeconomic conditions to note that inflation has slowed unevenly and interest rates remain moderately elevated by historical standards.

  • 41% rewritten

    Changes in, or interpretation of, tax rules and regulations may impact our effective tax rate and future profitability

    No substantive textual changes detected in tax rules and regulations risk.

  • 38% rewritten

    Our business could be adversely impacted in the event of a failure of our information technology infrastructure or a successful cyber-attack

    No substantive textual changes detected in IT infrastructure and cybersecurity risk.

  • 32% rewritten

    We purchase components and sub-assemblies for our printers from third-party suppliers that we provide to our customers as spare parts. Additionally, we purchase raw chemicals and packaging that are used in our materials, as well as certain of those materials, from third-party suppliers

    Removed climate-related supply chain disruption language from this single-supplier risk factor.

  • 29% rewritten

    The success of our regenerative medicine efforts depends on developing and commercializing products, either ourselves or in conjunction with development partners, that are subject to technical and market risks

    Changed references from regenerative medicine program to regenerative medicine business.

  • 27% rewritten

    We believe that our future success depends on our ability to deliver products and services that meet changing technology and customer needs

  • 20% rewritten

    Periodic delays on the inbound supply chain at our partners and our own facilities have also created challenges. We continue to identify alternative solutions, but an inability to source from alternative suppliers in a timely manner could impact on our ability to fulfill demand

    Was: Periodic delays on the inbound supply chain at our partners and our own facilities have also created challenges. We continue to identify alternative solutions, but an inability to source from alternative suppliers in a timely manner could impact our ability to fulfill demand

All 23 risk factors

Headings as the filing states them, in filing order.

Other

  1. 01Operational & Financial Risk Factors45% rewritten
  2. 02The loss of, continued reduction to, or substantial decline in revenue from larger clients could have a material adverse effect on our revenues, profitability and liquidity59% rewritten
  3. 03Changes in business conditions may cause our goodwill, intangible assets, long-lived tangible assets, or right-of-use assets to become impaired65% rewritten
  4. 04The variety of products that we sell could cause significant quarterly fluctuations in our gross profit margins, and those fluctuations in margins could cause fluctuations in operating income or loss and net income or loss
  5. 05Our products and services may experience quality problems from time to time that can result in decreased sales and operating margin, product returns, product liability, and warranty or other claims that could result in significant expenses and harm to our reputation
  6. 06We purchase components and sub-assemblies for our printers from third-party suppliers that we provide to our customers as spare parts. Additionally, we purchase raw chemicals and packaging that are used in our materials, as well as certain of those materials, from third-party suppliers32% rewritten
  7. 07Periodic delays on the inbound supply chain at our partners and our own facilities have also created challenges. We continue to identify alternative solutions, but an inability to source from alternative suppliers in a timely manner could impact on our ability to fulfill demand20% rewritten
  8. 08Climate-related physical and market risks may disrupt our operations and supply chain, increase our costs, and adversely affect our results of operations and financial conditionNew
  9. 09In areas of operations that involve handling hazardous materials, failure to maintain safe working conditions could result in workplace injuries, regulatory penalties, and reputational harm, as well as increased costs related to litigation, insurance, and compliance
  10. 10If we do not generate net cash flow from operations and if we are unable to raise additional capital, our financial condition could be adversely affected and we may be unable to execute our business strategyNew
  11. 11Our business could be adversely impacted in the event of a failure of our information technology infrastructure or a successful cyber-attack38% rewritten
  12. 12Our operations and business performance could suffer if we are unable to attract and retain senior management or other key employees
  13. 13Business Strategy Risk Factors
  14. 14We believe that our future success depends on our ability to deliver products and services that meet changing technology and customer needs27% rewritten
  15. 15The success of our regenerative medicine efforts depends on developing and commercializing products, either ourselves or in conjunction with development partners, that are subject to technical and market risks29% rewritten
  16. 16Regulatory, Legislative and Legal Risk Factors
  17. 17We are subject to complex government laws and regulations relating to certain product sets and failure to meet the stringent requirements could impact our business operations and financial position74% rewritten
  18. 18The costs and burdens of compliance with laws and regulations has been and can, in the future, be significant, and we may face investigations and proceedings from governmental entities or third parties in the futureNew
  19. 19We derive a significant portion of our revenue from business conducted outside the U.S. and are subject to the risks of doing business outside the U.S
  20. 20The consequences of terrorism or armed conflicts are unpredictable, and we may not be able to foresee events that could have an adverse effect on our market opportunities or our business. We are uninsured for losses and interruptions caused by terrorism, acts of war and similar events
  21. 21We may incur substantial costs enforcing or acquiring intellectual property rights and defending against third-party claims as a result of litigation or other proceedings
  22. 22We may not be able to protect our intellectual property rights and confidential information, including our digital content, from third-party infringers or unauthorized copying, use or disclosure
  23. 23Changes in, or interpretation of, tax rules and regulations may impact our effective tax rate and future profitability41% rewritten

Other 3d Systems 10-Ks

  • FY2024 10-K risk factors
    25 risks

    Revenue concentration with large clients creates significant vulnerability for financial results.

    Filed Mar 27, 2025

About this page

The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.