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Net Income (Loss) Per Share | 3 Months Ended
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Mar. 31, 2022
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share | (11) Net Income (Loss) Per Share Basic net income (loss) per share is calculated by dividing net income (loss) 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 assumed exercise of stock options and the vesting of restricted stock and restricted stock units, except in such case when their inclusion would be anti-dilutive.
| Quarter Ended March 31, |  |
(in thousands, except per share amounts) | 2022 |  | 2021 |  |  |  |
Numerator for basic and diluted net earnings (loss) per share: |  |  |  |  |  |  |
Net income (loss) attributable to 3D Systems Corporation | $ | (26,799) |  |  | $ | 45,228 |  |  |  |  |
Denominator for net earnings (loss) per share: |  |  |  |  |  |  |
Weighted average shares - basic | 126,728 |  |  | 121,705 |  |  |  |  |
Dilutive effect of shares issuable under stock based compensation and other plans(1) | — |  |  | 3,365 |  |  |  |  |
Weighted average shares - diluted | 126,728 |  |  | 125,070 |  |  |  |  |
Anti-dilutive shares of stock based compensation awards which are excluded from the dilutive shares above(2) | 1,503 |  |  | — |  |  |  |  |
Net income (loss) per share - basic | $ | (0.21) |  |  | $ | 0.37 |  |  |  |  |
Net income (loss) per share - diluted | $ | (0.21) |  |  | $ | 0.36 |  |  |  |  |
(1) The dilutive impact of share awards for the three months ended March 31, 2021 is 3,365 shares for which the calculation requires certain assumptions regarding assumed proceeds that will hypothetically repurchase unvested restricted shares and outstanding stock options. Because we had a net loss in the first quarter of 2022, dilutive shares are deemed ant-dilutive. (2) Excludes the impact of shares contingently issuable upon the achievement of certain milestones in the Volumetric acquisition as discussed in Note 2. Additionally, it excludes 3,451 shares which are deemed fully or partially repurchased based on the calculation which requires certain assumptions regarding the assumed proceeds that will hypothetically repurchase unvested restricted shares and outstanding stock options. On November 16, 2021, the Company issued $460.0 million in aggregate principal amount of its 0% Convertible Senior Notes due November 15, 2026 as discussed in Note 9. The Notes’ impact to diluted shares will be 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, the conversion price of the Notes. For the quarter ended Quarter Ended March 31, 2022, the Notes were anti-dilutive on a stand-alone basis because the average share price during the quarter ended March 31, 2022 did not exceed the conversion price and because we had a net loss for the quarter. On August 5, 2020, we entered into an Equity Distribution Agreement for an At-The-Market equity offering program (“ATM Program”) under which we could have issued and sold, from time to time, shares of our common stock. On January 6, 2021, following the closing of the sale of Cimatron and the receipt of the related purchase price proceeds, the Company terminated the ATM Program. No shares of our stock were issued under the ATM Program in 2021.

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