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Net Earnings (Loss) Per Share | 3 Months Ended
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Mar. 31, 2023
Earnings Per Share [Abstract] |
Net Earnings (Loss) Per Share | (14) Net Earnings (Loss) Per Share Basic net income (loss) per share is calculated by dividing net income (loss) attributable to 3D Systems’ Common Stock stockholders by the weighted average number of Common Stock shares outstanding during the applicable period. Diluted net income (loss) per share incorporates the additional shares issuable upon the assumed exercise of stock options, the vesting of restricted stock and RSUs, and the assumed conversion of debt, except in such case when (1) the inclusion of such shares or potential shares would be anti-dilutive or (2) when the vesting of restricted stock or RSUs is contingent upon one or more performance conditions that have not been met as of the balance sheet date.
| Three Months Ended
(in thousands, except per share amounts) | March 31, 2023 |  | March 31, 2022 |  |
Numerator for basic and diluted net (loss) income per share: |  |  |  |  |
Net (loss) income attributable to 3D Systems Corporation | $ | (29,421) |  |  | $ | (26,799) |  |  |
Redeemable non-controlling interest redemption value in excess of carrying value | (88) |  |  | — |  |  |
Net (loss) income attributable to common stock shareholders | $ | (29,509) |  |  | $ | (26,799) |  |  |
Denominator for net (loss) income per share: |  |  |  |  |
Weighted average shares – basic | 129,158 |  |  | 126,728 |  |  |
Dilutive effect of shares issuable under stock based compensation and other plans(1) | — |  |  | — |  |  |
Weighted average shares – diluted | 129,158 |  |  | 126,728 |  |  |
Net income (loss) per share – basic | $ | (0.23) |  |  | $ | (0.21) |  |  |
Net income (loss) per share – diluted | $ | (0.23) |  |  | $ | (0.21) |  |  |
(1) Equity awards are deemed anti-dilutive for the three months ended March 31, 2023 and 2022 because we reported a net loss for these periods. The following table presents the potentially dilutive shares that have been excluded from the computation of diluted earnings (loss) per share attributable to Common Stock stockholders because their effect is considered anti-dilutive for the three months ended March 31, 2023 and 2022, respectively.
| Three Months Ended
(in thousands) | March 31, 2023 |  | March 31, 2022 |  |
Restricted stock and restricted stock units | 4,177 |  |  | 5,313 |  |  |
Stock options | 420 |  |  | 420 |  |  |
Total | 4,597 |  |  | 5,733 |  |  |
For the three months ended March 31, 2023, the table above excludes the following: (1) an estimate of 1,041 shares contingently issuable upon the achievement of certain milestones in the Volumetric earnout arrangement discussed in Note 11; (2) an estimate of 466 shares for the payment of accrued incentive compensation that is expected to be settled in shares; and (3) an estimate of 53 shares that are contingently issuable under the dp polar earnout arrangement discussed in Note 11. These share estimates are based on the aggregate liabilities recorded for the Volumetric earnout arrangement, fiscal year 2022 and fiscal year 2023 incentive compensation and the dp polar earnout arrangement at March 31, 2023, divided by the Company's year-to-date average share price of $10.19 per share. For the three months ended March 31, 2022, the table above excludes the following: (1) an estimate of 152 shares contingently issuable to settle the March 31, 2022 liability accrued for the assumed achievement of certain milestones in the Volumetric earnout arrangement discussed in Note 11 and (2) and 245 shares attributable to the portion of the fiscal year 2022 bonus accrued as of March 31, 2022 to be settled in shares. On November 16, 2021, the Company issued $460,000 in aggregate principal amount of 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 per share, the conversion price of the Notes. For the three months ended March 31, 2023 and 2022, the Notes were anti-dilutive on a stand-alone basis because the average share price during these periods did not exceed the conversion price, and because we had a net loss for each of the respective periods.

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