The Company has two reportable segments, Healthcare and Industrial.

Divestitures (see Note 2 of the Financial Statements for further details)

Acquisitions (See Note 2 of the Financial Statements for Further Details)

COVID-19 Pandemic and Current Economic Environment

We remain committed to protecting our employees, delivering for our customers, and supporting our communities.

Summary of Second Quarter 2022 Financial Results

Our operating loss for the quarter ended June 30, 2022 was $32.0 million, compared to a $10.1 million loss for the quarter ended June 30, 2021 due to lower gross margins and higher SG&A and R&D expenses as discussed above.

Given the relatively high price of certain 3D printers and a corresponding lengthy selling cycle, as well as relatively low unit volume of the higher-priced printers in any particular period, a shift in the timing and concentration of orders and shipments from one period to another can materially affect reported revenue in any given period.

Three months ended June 30, 2022 compared with the three months ended June 30, 2021

The following table set forth our operating results by segment:

For the three months ended June 30, 2022 and 2021, revenue from operations outside the U.S. was 43.6% and 43.9% of total revenue, respectively.

Gross profit and gross profit margins

The following table sets forth gross profit and gross profit margins for the three months ended June 30, 2022, and 2021.

The following table sets forth the components of consolidated operating expenses, for the three months ended June 30, 2022 and 2021.

Six months ended June 30, 2022 compared with the six months ended June 30, 2021

The following table set forth our operating results by segment:

For the six months ended June 30, 2022 and 2021, revenue from operations outside the U.S. was 44.1% and 43.8% of total revenue, respectively.

Gross profit and gross profit margins

The following table sets forth gross profit and gross profit margins for the six months ended June 30, 2022 and 2021.

The following table sets forth the components of consolidated operating expenses for the six months ended June 30, 2022 and 2021.

Three and six months ended June 30, 2022 compared with three and six months ended June 30, 2021

The following table sets forth loss from operations for the three and six months ended June 30, 2022 and 2021.

See "Revenue," "Gross profit and gross profit margins" and "Operating expenses" above.

Interest and other income (expense), net

The following table sets forth the components of interest and other income (expense), net, for the three and six months ended June 30, 2022 and 2021.

The following table sets forth the primary components of net income (loss) for the three and six months ended June 30, 2022 and 2021.

Net (loss) income per share - basic and diluted $ (0.26)

(a) - Includes investing cash of $339.4 million into net short-term investments in 2022

Cash flow (used in)/provided by operating activities

Cash flow (used in)/provided by investing activities

Cash flow (used in) financing activities

Cash and Cash Equivalents and Short-Term Investments

The Company's material cash requirements consist of the following contractual and other obligations:

At June 30, 2022, we had $460.0 million of outstanding 0% convertible notes which mature in November of 2026 (the "Notes"). Management may consider pursuing additional long-term financing, market conditions permitting, when it is appropriate in light of cash requirements for operations or other strategic opportunities, which could result in higher financing costs.

Sources of Funding to Satisfy Material Cash Requirements

We were in compliance with all covenants of the Notes as of June 30, 2022.

Refer to Note 1 to the Financial Statements for further discussion.

Critical Accounting Policies and Significant Estimates

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