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Investments and Note Receivable | 9 Months Ended
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Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract] |
Investments and Note Receivable | (7) Investments and Note Receivable The Company holds various investments in equity and debt instruments that are reported in Other assets on our condensed consolidated balance sheets. The following table summarizes our investment balances as of September 30, 2024 and December 31, 2023:
(in thousands) |  | September 30, 2024 |  | December 31, 2023
Equity investments under the equity method of accounting |  | $ | 5,302 |  |  | $ | 5,247 |
Equity investments without readily determinable fair values |  | 20,696 |  |  | 20,847 |
Other(1) |  | 200 |  |  | 200 |
Total equity investments |  | $ | 26,198 |  |  | $ | 26,294 |
Long-term note receivable(2) |  | $ | 550 |  |  | $ | 535 |
Total notes receivable |  | $ | 550 |  |  | $ | 535 |
(1) Reflects warrant investment carried at fair value. The fair value of these warrants is measured using Level 3 fair value measurement inputs. Refer to Note 18 for a description of Level 3 inputs. (2) Includes interest amounts that have been accrued on, recorded to and reported as part of the notes receivable balances. Equity Investments under the Equity Method of Accounting National Additive Manufacturing Innovation ("NAMI") Joint Venture In February 2023, we became a shareholder in a joint venture formed with the Saudi Arabian Industrial Investments Company ("Dussur") for purposes of expanding the use of additive manufacturing within the Kingdom of Saudi Arabia and surrounding geographies, including the Middle East and North Africa. During April 2023, we deposited our initial investment commitment of approximately $6,500 into a bank account of the joint venture for use in its operations. In May 2024, we made an incremental investment of $2,450. Additional future investments in the joint venture are contingent upon agreement by the parties to the joint venture to invest additional capital. As of both September 30, 2024 and December 31, 2023, the Company owned 49% of the joint venture's common stock. The im pact of this investment on the Company’s future financial condition and cash flows is expected to be limited to cash outflows related to any future contingent investments, if required. The Company accounts for its investment in the joint venture under the equity method of accounting, requiring the Company to recognize its proportionate share of the joint venture's reported net income or loss, which the Company recognizes on a one quarter lag. For the three and nine months ended September 30, 2024 and September 30, 2023, the Company has reported a loss on equity method investment in its condensed consolidated statements of operations. The Company's reported revenue and cost of sales for the three months ended September 30, 2024 includes related party revenue and associated related party cost of sales of $376 and $231, respectively, attributable to sales to NAMI. The Company's reported revenue and cost of sales for the nine months ended September 30, 2024 includes related party revenue and associated related party cost of sales of $3,536 and $2,549, respectively, attributable to sales to NAMI. The Company's reported revenue and cost of sales for the three months ended September 30, 2023 includes related party revenue and associated related party cost of sales of $865 and $579, respectively, attributable to sales to NAMI. The Company's reported revenue and cost of sales for the nine months ended September 30, 2023 includes related party revenue and associated related party cost of sales of $1,215 and $770, respectively, attributable to sales to NAMI. As of September 30, 2024 and December 31, 2023, the outstanding related party receivable balances attributable to our sales to NAMI were $2,869 and $1,092, respectively. Equity Investments without Readily Determinable Fair Values Enhatch Included within the amounts reported for equity investments without readily determinable fair values as of September 30, 2024 and December 31, 2023 is the Company's investment in Enhatch Inc. ("Enhatch"), the developer of the Intelligent Surgery Ecosystem. In March 2022, the Company made a $10,000 investment in Enhatch and received convertible preferred shares, warrants to purchase additional shares of Enhatch, and the right to purchase in the future (the “call option”) the remaining shares of Enhatch that 3D Systems does not own if certain revenue targets are achieved. The Company's investment in Enhatch's convertible preferred shares and the call option, which have been accounted for together as a single unit of account and represent an equity investment without a readily determinable fair value, was recorded at $9,670 as of the original investment date, with the remaining value assigned to the Enhatch warrants. As of September 30, 2024 and December 31, 2023, the reported carrying value of the Company's convertible preferred stock investment in Enhatch (i.e., inclusive of the call option) is $6,900, w hich is recorded in other assets on our condensed consolidated balance sheets. This adjusted carrying value reflects the impact of a $2,770 impairment charge that was recorded during the year ended December 31, 2022. During the three and nine months ended September 30, 2024, the Company made purchases from Enhatch of $249 and $428, respectively. During the three and nine months ended September 30, 2023, the Company made purchases from Enhatch of $60 and $88, respectively. As of September 30, 2024 and December 31, 2023, the outstanding related party payable balances attributable to our purchases from En hatch w ere $22 and $26, respectively. Variable Interest Entities (VIEs) We have concluded that two of our investments are VIEs. These investments are not consolidated in our financial statements because we concluded that the Company is not the primary beneficiary. As of September 30, 2024, our maximum exposure to losses associated with the VIEs is limited to the $13,302 carrying value of our investments in the VIEs, which is included in other assets on our condensed consolidated balance sheet. We have no other investments in unconsolidated entities that have been determined to be VIEs.

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