What happened

3D Systems (DDD 5.25%) had a bad Hump Day. A once-hot stock in the 3D printing segment that had a brief spurt of popularity some years ago, 3D Systems' shares lost more than 8% of their value following the release of fresh quarterly results. That performance was significantly worse than the 0.7% drop of the bellwether S&P 500 index on the day. 

So what

In its second quarter, 3D Systems booked revenue of just over $128 million. That didn't quite reach the tally of the same period a year ago, which was slightly more than $140 million.

The company's net loss on a GAAP basis was almost $29 million. That was an improvement, albeit a minor one, over the nearly $33 million loss of the year-ago quarter. On a per-share, non-GAAP (adjusted) basis, 3D Systems lost $0.07.

Neither headline figure met analyst expectations. Collectively, prognosticators tracking 3D Systems were estimating that the company's revenue would total a shade above $134 million, while net loss would be slightly narrower at $0.06 per share.

In its earnings release, 3D Systems attributed much of its disappointing performance to softness in the orthodontics market, an important segment for the company.

It quoted its CEO Jeffrey Graves as saying that, "[T]he dramatic success we have experienced in the dental orthodontics market over many years has now translated into an outsized negative impact as consumer discretionary spending on dental aligners has plummeted."

Now what

Compounding its top- and bottom-line misses, 3D Systems also cut its guidance for the full year. It now believes it will earn $525 million to $545 million in revenue. Previously, it was anticipating $545 million to $575 million.

Its adjusted gross profit margin estimate is unchanged at 40% to 42%. It did not proffer net income guidance.