Connect with us

Technology

So-Young Reports Unaudited Third Quarter 2024 Financial Results

Published

2 years ago

on

BEIJING, Nov. 20, 2024 /PRNewswire/ — So-Young International Inc. (Nasdaq: SY) (“So-Young” or the “Company”), the largest and most vibrant social community in China for consumers, professionals and service providers in the medical aesthetics industry, today announced its unaudited financial results for the third quarter ended September 30, 2024.

Third Quarter 2024 Financial Highlights

Total revenues were RMB371.8 million (US$53.0 million[1]), compared with RMB385.3 million in the corresponding period of 2023, exceeding the high end of guidance.Net income attributable to So-Young International Inc. was RMB20.3 million (US$2.9 million), compared with net income attributable to So-Young International Inc. of RMB18.3 million in the same period of 2023.Non-GAAP net income attributable to So-Young International Inc.[2] was RMB22.2 million (US$3.2 million), compared with non-GAAP net income attributable to So-Young International Inc. of RMB9.5 million in the same period of 2023.

Third Quarter 2024 Operational Highlights

Average mobile MAUs were 1.4 million, compared with 3.1 million in the third quarter of 2023.Number of medical service providers subscribing to information services on So-Young’s platform was 1,322, compared with 1,397 in the third quarter of 2023.Total number of purchasing users through reservation services was 114.9 thousand and the aggregate value of medical aesthetic treatment transactions facilitated by So-Young’s platform was RMB346.0 million.

Mr. Xing Jin, Co-Founder and Chief Executive Officer of So-Young, said, “Our third quarter performance beat the high end of our guidance once again, highlighting the resilience of our business. Sales of medical products and maintenance services grew by 18.7% year-over-year, becoming a key growth driver contributing to a year-over-year increase in net income. This underscores the effectiveness of our strategy to stay at the forefront of industry trends by deepening the synergies from our vertical integration and continuously diversifying our offerings. Our clinic network has experienced significant growth. The number of stores has grown to 16 by the end of this quarter, extending our presence into additional major cities. All stores are situated in central business districts, enhancing our market coverage and competitive position. To further scale our offline presence, we are accelerating the deployment of this proven standardized model in other cities nationwide and are exploring franchising opportunities to engage with a wider audience. The reputational strength of our brand and our deep understanding of evolving consumer behavior uniquely position us to develop products that resonate with consumer needs. Sales momentum remains robust, driven by both our well-established products and exciting new launches in collaboration with our supply chain partners. Looking ahead, we are committed to seizing opportunities across the entire medical aesthetics value chain while deepening the integration of our three core businesses to maximize operational efficiency, customer satisfaction, and sustainable growth.”

Mr. Hui Zhao, Chief Financial Officer of So-Young, added, “Our third-quarter results reflect our ability to strategically adapt to changing market dynamics. Through disciplined cost management and targeted growth initiatives, we are carefully navigating this challenging market environment while building a solid foundation for future expansion. Encouragingly, our net income and non-GAAP net income attributable to So-Young International Inc. improved significantly, with year-over-year growth rates exceeding 8.9% and 133.1% respectively. Looking ahead, we will leverage our expanding network of clinics and meticulously curated product offerings to address the growing demand for high-quality solutions and services. By maintaining operational efficiency and scalability, we are well-positioned to continue leading the medical aesthetics sector, delivering sustainable growth and long-term value for our shareholders.”

[1] This press release contains translations of certain Renminbi (RMB) amounts into U.S. dollars (US$) solely for the convenience of the reader. Unless otherwise specified, all translations of Renminbi amounts into U.S. dollar amounts in this press release are made at RMB7.0176 to US$1.00, which was the U.S. dollars middle rate announced by the Board of Governors of the Federal Reserve System of the United States on September 30, 2024.

[2] Non-GAAP net income attributable to So-Young International Inc. is defined as net income attributable to So-Young International Inc. excluding share-based compensation expenses attributable to So-Young International Inc. See “Reconciliation of GAAP and Non-GAAP Results” at the end of this press release.

Third Quarter 2024 Financial Results     

Revenues

Total revenues were RMB371.8 million (US$53.0 million), a decrease of 3.5% from RMB385.3 million in the same period of 2023. The decrease was primarily due to a decrease in the number of medical service providers subscribing to information services on So-Young’s platform.

Information services and other revenues were RMB263.0 million (US$37.5 million), a decrease of 8.0% from RMB285.9 million in the same period of 2023. The decrease was primarily due to a decrease in the number of medical service providers subscribing to information services on So-Young’s platform.Reservation services revenues were RMB19.6 million (US$2.8 million), a decrease of 18.9% from RMB24.1 million in the same period of 2023. The decrease was primarily due to a decrease in consumer spending through our platform.Sales of medical products and maintenance services were RMB89.3 million (US$12.7 million), an increase of 18.7% from RMB75.2 million in the same period of 2023, primarily due to an increase in the order volumes for cosmetic products and medical equipment.

Cost of Revenues

Cost of revenues was RMB142.2 million (US$20.3 million), a decrease of 0.3% from RMB142.6 million in the third quarter of 2023. The decrease was primarily due to a decrease in the cost of services associated with the information services. Cost of revenues included share-based compensation expenses of RMB0.1 million (US$0.0 million), compared with the share-based compensation expenses of RMB0.4 million in the corresponding period of 2023.

Cost of services and others were RMB98.6 million (US$14.1 million), a decrease of 4.7% from RMB103.5 million in the third quarter of 2023. The decrease was primarily due to a decrease in the cost of services associated with the information services.Cost of medical products sold and maintenance services were RMB43.5 million (US$6.2 million), an increase of 11.3% from RMB39.1 million in the third quarter of 2023. The increase was primarily due to an increase in costs associated with the sales of cosmetic products.

Operating Expenses

Total operating expenses were RMB225.0 million (US$32.1 million), a decrease of 8.1% from RMB244.7 million in the third quarter of 2023.

Sales and marketing expenses were RMB114.9 million (US$16.4 million), a decrease of 20.1% from RMB143.8 million in the third quarter of 2023. The decrease was mainly due to a decrease in expenses associated with branding and user acquisition activities. Sales and marketing expenses included share-based compensation expenses of RMB0.2 million (US$0.0 million), compared with RMB0.5 million in the corresponding period of 2023.General and administrative expenses were RMB69.9 million (US$10.0 million), an increase of 39.1% from RMB50.2 million in the third quarter of 2023. The increase was primarily due to an increase in share-based compensation expenses. General and administrative expenses included share-based compensation expenses of RMB1.3 million (US$0.2 million), compared with a reversal of share-based compensation expenses of RMB11.2 million in the corresponding period of 2023.Research and development expenses were RMB40.2 million (US$5.7 million), a decrease of 20.6% from RMB50.6 million in the third quarter of 2023. The decrease was primarily attributable to improvements in staff efficiency. Research and development expenses included share-based compensation expenses of RMB0.3 million (US$0.0 million), compared with RMB1.5 million in the corresponding period of 2023.

Income Tax (Expenses)/Benefits

Income tax expenses were RMB2.1 million (US$0.3 million), compared with income tax benefits of RMB2.2 million in the same period of 2023.

Net Income Attributable to So-Young International Inc.

Net income attributable to So-Young International Inc. was RMB20.3 million (US$2.9 million), compared with a net income attributable to So-Young International Inc. of RMB18.3 million in the third quarter of 2023.

Non-GAAP Net Income Attributable to So-Young International Inc.

Non-GAAP net income attributable to So-Young International Inc., which excludes the impact of share-based compensation expenses attributable to So-Young International Inc., was RMB22.2 million (US$3.2 million), compared with RMB9.5 million non-GAAP net income attributable to So-Young International Inc. in the same period of 2023.

Basic and Diluted Earnings per ADS

Basic and diluted earnings per ADS attributable to ordinary shareholders were RMB0.20 (US$0.03) and RMB0.20 (US$0.03), respectively, compared with basic and diluted earnings per ADS attributable to ordinary shareholders of RMB0.18 and RMB0.18, respectively, in the same period of 2023.

Cash and Cash Equivalents, Restricted Cash and Term Deposits, Term Deposits and Short-Term Investments

As of September 30, 2024, cash and cash equivalents, restricted cash and term deposits, term deposits and short-term investments were RMB1,252.6 million (US$178.5 million), compared with RMB1,341.6 million as of December 31, 2023.

Business Outlook

For the fourth quarter of 2024, So-Young expects total revenues to be between RMB350.0 million (US$49.9 million) and RMB370.0 million (US$52.7 million), representing a 10.4% to 5.3% decrease from the same period in 2023. The above outlook is based on the current market conditions and reflects the Company’s preliminary estimates of market and operating conditions, as well as customer demand, which are all subject to change.

Non-GAAP Financial Measures

To supplement the financial measures prepared in accordance with generally accepted accounting principles in the United States, or GAAP, this press release presents non-GAAP income/(loss) from operations and non-GAAP net income attributable to So-Young International Inc. by excluding share-based compensation expenses from income/(loss) from operations and net income attributable to So-Young International Inc., respectively. The Company believes these non-GAAP financial measures are important to help investors understand the Company’s operating and financial performance, compare business trends among different reporting periods on a consistent basis and assess the Company’s core operating results, as they exclude certain expenses that are not expected to result in cash payments. The use of the above non-GAAP financial measures has certain limitations. Share-based compensation expenses have been and will continue to be incurred in the future. All these are not reflected in the presentation of the non-GAAP financial measures, but should be considered in the overall evaluation of the Company’s results. The Company compensates for these limitations by providing the relevant disclosure of its share-based compensation expenses in the reconciliations to the most directly comparable GAAP financial measures, which should be considered when evaluating the Company’s performance. These non-GAAP financial measures should be considered in addition to financial measures prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP. Reconciliation of each of these non-GAAP financial measures to the most directly comparable GAAP financial measure is set forth at the end of this release.

Conference Call Information

So-Young’s management will hold an earnings conference call on Wednesday, November 20, 2024, at 7:00 AM U.S. Eastern Time (8:00 PM on the same day, Beijing/Hong Kong Time). Dial-in details for the earnings conference call are as follows:

International:

+1-412-902-4272

Mainland China: 

4001-201203

US:

+1-888-346-8982

Hong Kong:

+852-301-84992

Passcode: 

So-Young International Inc.

A telephone replay will be available two hours after the conclusion of the conference call through 23:59 U.S. Eastern Time, November 27, 2024. The dial-in details are:

International: 

+1-412-317-0088

US:

+1-877-344-7529

Passcode:

2642052

Additionally, a live and archived webcast of this conference call will be available at http://ir.soyoung.com.

About So-Young International Inc.

So-Young International Inc. (Nasdaq: SY) is the largest and most vibrant social community in China for consumers, professionals and service providers in the medical aesthetics industry. The Company presents users with reliable information through offering high quality and trustworthy content together with a multitude of social functions on its platform, as well as by curating medical aesthetic service providers that are carefully selected and vetted. Leveraging So-Young’s strong brand image, extensive audience reach, trust from its users, highly engaging social community and data insights, the Company is well-positioned to expand both along the medical aesthetic industry value chain and into the massive, fast-growing consumption healthcare service market.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Financial Guidance and quotations from management in this announcement, as well as So-Young’s strategic and operational plans, contain forward-looking statements. So-Young may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about So-Young’s beliefs and expectations, are forward-looking statements. Forward looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: So-Young’s strategies; So-Young’s future business development, financial condition and results of operations; So-Young’s ability to retain and increase the number of users and medical service providers, and expand its service offerings; competition in the online medical aesthetic service industry; changes in So-Young’s revenues, costs or expenditures; Chinese governmental policies and regulations relating to the online medical aesthetic service industry, general economic and business conditions globally and in China; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and So-Young undertakes no duty to update such information, except as required under applicable law.

For more information, please contact:

So-Young

Investor Relations
Ms. Mona Qiao
Phone: +86-10-8790-2012
E-mail: ir@soyoung.com 

Christensen

In China
Ms. Dee Wang
Phone: +86-10-5900-1548
E-mail: dee.wang@christensencomms.com 

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com 

SO-YOUNG INTERNATIONAL INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands, except for share and per share data)

As of

December 31,

September 30,

September 30,

2023

2024

2024

RMB

RMB

US$

Assets

Current assets:

Cash and cash equivalents

426,119

467,407

66,605

Restricted cash and term deposits

14,695

104,198

14,848

Trade receivables

57,219

106,943

15,239

Inventories

118,924

145,601

20,748

Receivables from online payment platforms

23,158

31,666

4,512

Amounts due from related parties

9,212

10,466

1,491

Term deposits and short-term investments

900,823

681,035

97,047

Prepayment and other current assets

171,774

221,227

31,525

Total current assets

1,721,924

1,768,543

252,015

Non-current assets:

Long-term investments

261,016

287,507

40,969

Intangible assets

145,253

131,641

18,759

Goodwill

540,693

540,693

77,048

Property and equipment, net

116,782

154,572

22,026

Deferred tax assets

78,034

81,057

11,551

Operating lease right-of-use assets

118,408

159,179

22,683

Other non-current assets

232,455

180,628

25,739

Total non-current assets

1,492,641

1,535,277

218,775

Total assets

3,214,565

3,303,820

470,790

Liabilities

Current liabilities:

Short-term borrowings

29,825

89,559

12,762

Taxes payable

56,894

53,639

7,643

Contract liabilities

103,374

94,747

13,501

Salary and welfare payables

86,290

84,927

12,102

Amounts due to related parties

388

146

21

Accrued expenses and other current liabilities

233,913

244,721

34,873

Operating lease liabilities-current

29,739

40,398

5,757

Total current liabilities

540,423

608,137

86,659

Non-current liabilities:

Operating lease liabilities-non current

86,210

124,915

17,800

Deferred tax liabilities

25,082

20,780

2,961

Other non-current liabilities

1,536

1,607

229

Total non-current liabilities

112,828

147,302

20,990

Total liabilities

653,251

755,439

107,649

SO-YOUNG INTERNATIONAL INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Continued)

(Amounts in thousands, except for share and per share data)

Shareholders’ equity:

Treasury stock

(358,453)

(369,907)

(52,711)

Class A ordinary shares (US$0.0005 par value; 750,000,000
     shares authorized as of December 31, 2023 and September
     30, 2024; 73,688,044 and 63,422,436 shares issued and
     outstanding as of December 31, 2023, 77,634,580 and
     66,170,882 shares issued and outstanding as of September
     30, 2024, respectively)

238

252

36

Class B ordinary shares (US$ 0.0005 par value; 20,000,000
     shares authorized as of December 31, 2023 and September
     30, 2024; 12,000,000 shares issued and outstanding as of
     December 31, 2023 and September 30, 2024)

37

37

5

Additional paid-in capital

3,080,433

3,067,567

437,125

Statutory reserves

33,855

33,855

4,824

Accumulated deficit

(330,166)

(312,117)

(44,476)

Accumulated other comprehensive income

18,185

8,858

1,262

Total So-Young International Inc. shareholders’ equity

2,444,129

2,428,545

346,065

Non-controlling interests

117,185

119,836

17,076

Total shareholders’ equity

2,561,314

2,548,381

363,141

Total liabilities and shareholders’ equity

3,214,565

3,303,820

470,790

 

SO-YOUNG INTERNATIONAL INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in thousands, except for share and per share data) 

For the Three Months Ended

For the Nine Months Ended

September 
30, 2023

September
30, 2024

September
30, 2024

September
30, 2023

September
30, 2024

September
30, 2024

RMB

RMB

US$

RMB

RMB

US$

Revenues:

Information services and others

285,937

262,988

37,475

795,100

750,952

107,010

Reservation services

24,140

19,567

2,788

80,724

64,987

9,261

Sales of medical products and maintenance services

75,217

89,270

12,721

231,639

281,548

40,120

Total revenues

385,294

371,825

52,984

1,107,463

1,097,487

156,391

Cost of revenues:

Cost of services and others

(103,484)

(98,620)

(14,053)

(291,503)

(274,695)

(39,144)

Cost of medical products sold and maintenance services

(39,119)

(43,548)

(6,206)

(115,199)

(139,839)

(19,927)

Total cost of revenues

(142,603)

(142,168)

(20,259)

(406,702)

(414,534)

(59,071)

Gross profit

242,691

229,657

32,725

700,761

682,953

97,320

Operating expenses:

Sales and marketing expenses

(143,844)

(114,884)

(16,371)

(394,276)

(360,448)

(51,363)

General and administrative expenses

(50,242)

(69,901)

(9,961)

(204,097)

(225,653)

(32,155)

Research and development expenses

(50,597)

(40,188)

(5,727)

(158,531)

(122,277)

(17,424)

Total operating expenses

(244,683)

(224,973)

(32,059)

(756,904)

(708,378)

(100,942)

(Loss)/Income from operations

(1,992)

4,684

666

(56,143)

(25,425)

(3,622)

Other income/(expenses):

Investment income, net

647

510

73

10,869

3,397

484

Interest income, net

12,130

14,239

2,029

38,023

38,270

5,453

Exchange gains/(losses)

103

465

66

(1,051)

875

125

Share of losses of equity method investee

(3,822)

(3,873)

(552)

(10,692)

(11,602)

(1,653)

Others, net

9,887

6,915

985

18,474

12,234

1,743

Income/(Loss) before tax

16,953

22,940

3,267

(520)

17,749

2,530

Income tax benefits/(expenses)

2,191

(2,097)

(299)

7,240

3,031

432

Net income

19,144

20,843

2,968

6,720

20,780

2,962

Net income attributable to noncontrolling interests

(839)

(495)

(71)

(2,941)

(2,731)

(389)

Net income attributable to So-Young International Inc.

18,305

20,348

2,897

3,779

18,049

2,573

 

SO-YOUNG INTERNATIONAL INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Continued)

(Amounts in thousands, except for share and per share data)

For the Three Months Ended

For the Nine Months Ended

September
30, 2023

September
30, 2024

September
30, 2024

September
30, 2023

September
30, 2024

September
30, 2024

RMB

RMB

US$

RMB

RMB

US$

Net earnings per ordinary share

Net earnings per ordinary share attributable to ordinary shareholder – basic

0.24

0.26

0.04

0.05

0.23

0.03

Net earnings per ordinary share attributable to ordinary shareholder – diluted

0.24

0.26

0.04

0.05

0.23

0.03

Net earnings per ADS attributable to ordinary shareholders – basic (13 ADS
     represents 10 Class A ordinary shares)

0.18

0.20

0.03

0.04

0.18

0.03

Net earnings per ADS attributable to ordinary shareholders – diluted (13 ADS
     represents 10 Class A ordinary shares)

0.18

0.20

0.03

0.04

0.18

0.03

Weighted average number of ordinary shares used in computing earnings/(loss)
     per share, basic*

76,842,709

79,493,819

79,493,819

78,001,149

79,544,066

79,544,066

Weighted average number of ordinary shares used in computing earnings/(loss)
     per share, diluted*

77,210,781

79,708,518

79,708,518

78,402,636

79,810,666

79,810,666

Share-based compensation expenses included in:

Cost of services and others

(418)

(81)

(12)

(1,635)

(255)

(36)

Sales and marketing expenses

(533)

(183)

(26)

(2,850)

(420)

(60)

General and administrative expenses

11,164

(1,328)

(189)

(10,400)

(27,796)

(3,961)

Research and development expenses

(1,454)

(309)

(44)

(3,636)

(1,969)

(281)

* Both Class A and Class B ordinary shares are included in the calculation of the weighted average number of ordinary shares outstanding, basic and diluted.

 

SO-YOUNG INTERNATIONAL INC.

Reconciliation of GAAP and Non-GAAP Results

(Amounts in thousands, except for share and per share data)

For the Three Months Ended

For the Nine Months Ended

September
30, 2023

September 
30, 2024

September
30, 2024

September
30, 2023

September
30, 2024

September
30, 2024

RMB

RMB

US$

RMB

RMB

US$

GAAP (loss)/income from operations

(1,992)

4,684

666

(56,143)

(25,425)

(3,622)

Add back: Share-based compensation expenses

(8,759)

1,901

271

18,521

30,440

4,338

Non-GAAP (loss)/income from operations

(10,751)

6,585

937

(37,622)

5,015

716

GAAP net income attributable to So-Young International Inc.

18,305

20,348

2,897

3,779

18,049

2,573

Add back: Share-based compensation expenses

(8,759)

1,901

271

18,521

30,440

4,338

Non-GAAP net income attributable to So-Young International Inc.

9,546

22,249

3,168

22,300

48,489

6,911

 

 

View original content:https://www.prnewswire.com/news-releases/so-young-reports-unaudited-third-quarter-2024-financial-results-302311180.html

SOURCE So-Young International Inc.

Related Topics:
Continue Reading

Technology

Dental 3D Printing Market worth $10.08 billion by 2031 – Exclusive Report by MarketsandMarkets™

Published

17 minutes ago

on

November 2, 2026

By

DELRAY BEACH, Fla., Nov. 2, 2026 /PRNewswire/ — According to MarketsandMarkets™, the Dental 3D Printing Market is projected to reach USD 10.08 billion by 2031 from USD 4.35 billion in 2026, at a CAGR of 18.3% during the forecast period.

Browse 250 market data Tables and 60 Figures spread through 300 Pages and in-depth TOC on ‘Dental 3D Printing Market- Global Forecast to 2031’

Dental 3D Printing Market Size & Forecast:

Market Size Available for Years: 2026–20312026 Market Size: USD 4.35 billion2031 Projected Market Size: USD 10.08 billionCAGR (2026–2031): 18.3%

Dental 3D Printing Market Trends & Insights:

North America held the largest share in 2025.By product & service, the materials segment is expected to register the highest CAGR of 21.3% during the forecast period.By technology, the VAT photopolymerization segment accounted for the largest share of 61.5% in 2025.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=258228239

The dental 3D printing market is driven by several factors. One key driver is rising oral health awareness, combined with a growing global population, which increases demand for dental services. This creates a favorable environment for innovative solutions like 3D printing. Additionally, advances in 3D printing hardware, software, and materials improve accuracy, speed, and affordability, making the technology more accessible and appealing for dental applications. However, certain challenges could hinder market growth. These include regulatory hurdles, high upfront costs, operational expenses, and a shortage of skilled workers.

By technology, the VAT photopolymerization segment accounted for the largest share of the dental 3D printing market during the forecast period.

The dental 3D printing market is segmented by technology into VAT photopolymerization, fused deposition modeling, selective laser sintering, PolyJet printing, and other technologies. VAT photopolymerization holds the largest share of the dental 3D printing market due to its precision, versatility with various materials, and broad applicability to dental procedures. Technologies such as stereolithography (SLA) and digital light processing (DLP) produce high-resolution prints with a smooth finish, making them particularly suitable for crowns, bridges, surgical guides, occlusal splints, and aligners. Their compatibility with biocompatible resins allows for both temporary and permanent restorations. Dental labs rely on this technology because it can produce many custom pieces at once, saving time and resources. It is also gaining popularity among small clinics and dental support organizations (DSOs), as many new systems are affordable, compact, and user-friendly. Additionally, 3D printing generates less waste than conventional milling or handwork and continues to evolve with advances in resin chemistry and printer technology.

By end user, the dental laboratories segment accounted for the largest share of the dental 3D printing market during the forecast period.

The dental 3D printing market can be divided by end user into three main categories: dental laboratories, dental hospitals & clinics, and dental academic & research institutions. Dental laboratories represent the largest segment of the dental 3D printing industry, driven by the increasing demand for advanced technologies in dental practices, cosmetic treatments, and high-quality products. These labs manufacture a variety of dental products—such as prosthetics, crowns, dentures, veneers, and night guards—using 3D printing because it offers greater accuracy, speed, and affordability. Larger laboratory chains are adopting this technology because of their purchasing power, and outsourcing fabrication to these labs is increasingly common, further increasing demand. Digitizing processes through 3D printing leads to significant time and cost savings, as well as greater precision in producing dental items.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=258228239

North America dominates the dental 3D printing market.

The global dental 3D printing market is divided into six main regions: North America, Europe, Asia Pacific, Latin America, the Middle East & Africa, and the GCC countries.

North America leads the dental 3D printing market because of its well-developed healthcare system, rapid adoption of advanced dental technologies, and strong demand for cosmetic and restorative treatments. The region’s dominance in innovation and market share can be attributed to the fact that many companies in the dental 3D printing sector are based there. Additionally, high disposable incomes and a high standard of living in countries like the US and Canada further drive the demand for quality dental treatments. The ongoing digitalization of dental procedures also helps maintain North America’s position as a market leader.

Key Players

Leading players in the Dental 3D Printing companies include Stratasys (US and Israel), 3D Systems, Inc. (US), and Align Technology, Inc. (US).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=258228239

Investment Funding Context

Investment activity in the dental 3D printing ecosystem remains strong and is primarily concentrated on practice acquisitions, geographic expansion, technology adoption, and platform consolidation. Disclosed transactions in the dental 3D printing market indicate a focus on proprietary printing technologies, advanced dental materials, geographic expansion, and integrating digital manufacturing capabilities. Venture funding has supported the expansion of specialized providers.

In October 2022, SprintRay secured more than USD 100 million in Series D funding led by SoftBank Vision Fund 2, with the proceeds intended to support expansion across Europe and the United States. Strategic acquisitions have also enabled companies to strengthen their technology portfolios. In January 2024, Align Technology completed its acquisition of Cubicure, reporting total purchase consideration of approximately USD 85.8 million, including the fair value of its pre-existing ownership interest. The acquisition was intended to expand Align’s capabilities in direct 3D printing, materials development, and manufacturing of customized orthodontic appliances. In September 2025, SprintRay acquired the EnvisionTEC/ETEC dental product portfolio, including patents, trademarks, inventory, and intellectual property relating to dental materials and printing technologies, strengthening its capabilities across laboratory and chairside applications. The announcement did not disclose the transaction value. In October 2025, LuxCreo also announced a strategic investment from Angelalign Technology to support joint development of next-generation 3D printing materials for clear aligners. The investment, whose value was not disclosed in the announcement, was directed toward material research and development, platform improvements, and expansion of the digital dentistry ecosystem, demonstrating strategic interest in direct printing technologies for orthodontic applications.

Revenue Shift Context

Revenue opportunities in the dental 3D printing market are broadening across equipment sales, recurring material purchases, and digital design and production services. Manufacturer disclosures indicate that printer installations can generate subsequent demand for consumables and support services as production volumes increase. Dental applications are also expanding beyond models used in conventional fabrication workflows toward directly printed restorations and appliances. For example, Stratasys launched its TrueDent-D resin in Europe in January 2025, extending its monolithic digital denture offering to additional markets and creating opportunities for printer deployment and repeat resin sales. The commercial contribution of newer applications is evident in 3D Systems’ fourth-quarter 2025 results, which reported strong double-digit sequential growth in its dental business, supported by a recovery in the aligner market and the launch of its denture manufacturing technology.

Digital services provide additional revenue channels alongside hardware and materials. SprintRay offers paid Cloud Design services and design subscriptions, while its Design Suite combines automated design, professional design assistance, and outsourced print-and-ship services. These offerings enable suppliers to participate in multiple stages of the dental production workflow and generate revenue through ongoing customer activity. These developments suggest that competitive differentiation increasingly depends on application breadth, material compatibility, workflow integration, and printer utilization, with revenue opportunities extending throughout the operating life of installed systems.

Mergers & Acquisitions

M&A activity in the dental 3D printing market is focused on strengthening printing capabilities, expanding material portfolios, and integrating digital production workflows. Selected transactions show acquisitions of complementary technologies to support dental laboratories and chairside applications. In September 2025, SprintRay acquired the EnvisionTEC/ETEC dental product portfolio, adding printing technologies, dental materials, and associated intellectual property to its offering. During the same month, Pac-Dent acquired Ackuretta Technologies, combining its Rodin dental printing resins with Ackuretta’s printers, post-processing equipment, and ALPHA AI CAM software. The transaction supports Pac-Dent’s development of an interoperable digital dentistry platform and expansion of customer support capabilities. Align Technology’s January 2024 acquisition of Cubicure strengthened its capabilities in polymer materials, direct 3D printing, and manufacturing customized orthodontic appliances. These transactions indicate consolidation is aimed at combining hardware, materials, and software expertise, broadening application coverage, and supporting scalable production of patient-specific dental products.

DENTAL 3D PRINTING MARKET: MERGERS & ACQUISITIONS, JANUARY 2023–SEPTEMBER 2026

Month & Year

Deal Type

Company 1

Company 2

Description

September 2025

Acquisition

SprintRay (US)

EnvisionTEC/ETEC dental product portfolio (US)

SprintRay acquired the EnvisionTEC/ETEC dental product portfolio, formerly part of Desktop Health, including patents, trademarks, inventory, and intellectual property relating to dental materials and 3D printing technologies. The acquisition strengthened its offerings across dental laboratory and chairside applications and included plans to continue resin supply and customer support.

September 2025

Acquisition

Pac-Dent (US

Ackuretta Technologies (Taiwan)

Pac-Dent acquired Ackuretta Technologies, combining its Rodin dental 3D printing resins and restorative materials with Ackuretta’s printing hardware, post-processing systems, and ALPHA AI CAM software. The acquisition supports integrated, open-system workflows for dental laboratories and clinics, alongside expanded training, service, and technical support.

January 2024

Acquisition

Align Technology (US)

Cubicure (Austria)

Align Technology completed its acquisition of Cubicure on January 2, 2024. Cubicure’s polymer printing technologies, materials expertise, and manufacturing capabilities were acquired to strengthen the Align Digital Platform and support the development and scaling of directly printed orthodontic devices.

Company Revenue Share Details

The dental 3D printing market is highly fragmented, with established manufacturers and specialized technology providers competing across dental 3D printers, photopolymer resins, printing software, post-processing systems, and integrated digital dentistry workflows. Key participants include Stratasys, 3D Systems, SprintRay, Formlabs, DWS S.r.l., Prodways Group, and Carbon.

Browse Adjacent Market: Medical Devices Market Research Reports &Consulting

See More Latest Medical Devices Reports:

3D Bioprinting Market by Component (3D bioprinters (Microextrusion, Inkjet, Laser), Bioinks, Software, Consumable), Material (Hydrogels, ECM), Application (Research (Regenerative Medicine, 3D cell Culture), Clinical (Skin, Bone)) – Global Forecast to 2029

Dental Implants and Prosthetics Market by Product [Dental Implants (Titanium, Zirconium), Dental Prosthetics (Bridges, Crowns, Dentures, Veneers, and Inlays & Onlays)], by End User (Dental Hospitals & Clinics, Dental Labs) – Global Forecast to 2031

About MarketsandMarkets™  

MarketsandMarkets™ has been recognized as one of America’s Best Management Consulting Firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe.

Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem.

The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts.

MarketsandMarkets™ SalesPlay is an AI-driven Revenue Intelligence Co-Pilot designed to help revenue teams prioritize the right accounts, identify critical changes early, and surface opportunities ahead of demand, so pipeline builds naturally and deals close with greater consistency.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/dental-3d-printing-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/dental-3d-printing.asp

 

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/dental-3d-printing-market-worth-10-08-billion-by-2031—exclusive-report-by-marketsandmarkets-302926298.html

Continue Reading

Technology

Tree Hut Unwraps Seven Festive Scents In Its New Limited-Edition Holiday Collection

Published

17 minutes ago

on

November 2, 2026

By

From Candy Cane to Frosted Plum, America’s No. 1 Body Scrub Brand Brings the Aromas of the Holidays to Self-Care

America’s No. 1 Body Scrub brand, Tree Hut, is introducing its limited-edition holiday collection in seven new seasonal scents that evoke the coziness of winter. The assortment ranges from sweet fragrances like Candy Cane and Cranberry Fluff to warm notes of Honeycrisp Spice, along with the return of vault favorite Marshmallow Lodge.The collection features a range of fan-favorite product forms, like the Shea Sugar Scrub, Foaming Gel Wash and more, bringing each fragrance to life through rich, sensorial textures and skin-loving formulas.Rounding out the line, seven gift sets make shopping this holiday season easy, with options for stocking stuffers or gifting. The collection is available nationally now at retailers like Target, Walmart, and Ulta Beauty, and online on Amazon.

COPPELL, Texas, Nov. 2, 2026 /PRNewswire/ — Cozy is calling! It’s officially sweater weather, and Tree Hut is making wintertime a little toastier. America’s No. 1 Body Scrub brand, Tree Hut, launches its holiday collection, filled with festive cheer and cabin-inspired charm to add to any routine. Featuring warm, nostalgic scents that range from sweet and creamy to bright and spiced, the collection makes every shower feel like a sensory escape. Consumers can fall in love with these limited-edition holiday favorites now at retailers like Target, Walmart, and Ulta Beauty, as well as online on Amazon.

As the season settles in, Tree Hut is serving up body care made for gifting, getting ready and warming up from the cold, wrapped in packaging inspired by Nordic folk art and the homey feeling of the holidays. From Shea Sugar Scrubs that exfoliate the skin to moisturizing Whipped Body Butters and gift-worthy sets, this assortment features rich aromas that embrace the season. Candy Cane, Angel Cake, Cranberry Fluff, Honeycrisp Spice, Frosted Plum, Lavender Ice and the return of vault scent, Marshmallow Lodge, transport consumers to a winter wonderland with every use. Crafted with Tree Hut’s skin-loving formulas featuring Shea Butter, real Sugar and nourishing oils, each offering brings a touch of indulgence to holiday self-care.

“Holiday body care should be just as fun to use as it is to give,” said Lindsey Scales, Vice President of Marketing at Tree Hut. “We wanted to create an assortment with scent notes that capture the essence of the holidays. The collection feels giftable, collectible and joyful, with irresistible textures and craveable fragrances that make consumers want to reach for it every day. It is a fresh take on the category that adds seasonal excitement to the shower.”

Tree Hut is bringing the spirit of the holidays to brand fans and winter lovers in a variety of new scents, including:

Candy Cane:Indulge in the sweet aroma of minty iced peppermint, cotton candy & vanilla beanAvailable in: Foaming Gel Wash (Tumbler), Foaming Gel Wash (Pump), Shea Sugar Scrub, Daily Moisturizing Scrub, Moisturizing Shave Oil, Whipped Body Butter, Hydraglow Body Lotion, Lip Butter and Mini Shea Sugar ScrubAngel Cake (Exclusively at Target):Soft notes of vanilla, cashmere and tonka bean make a sweet, whipped treat for an everything showerAvailable in: Foaming Gel Wash, Shea Sugar Scrub, Whipped Body Butter, Lip Butter and select minis; Foaming Gel Wash, Shea Sugar Scrub and Whipped Body ButterCranberry Fluff:A berry-sweet treat, made with cranberry, marshmallow and toasted sugarAvailable in: Foaming Gel Wash, Shea Sugar Scrub and Mini Shea Sugar ScrubHoneycrisp Spice (Exclusively at Walmart):A spiced, festive treat for your routine, made with apple, clove and cardamomAvailable in: Foaming Gel Wash and Shea Sugar ScrubFrosted Plum (Exclusively at Ulta):A rich mix of bright plum, juicy clementine and soft velvet muskAvailable in: Foaming Gel Wash and Shea Sugar ScrubLavender Ice (Exclusively at Target):A calm, magical winter reset, made with lavender, vanilla and coconut milkAvailable in Shea Sugar ScrubMarshmallow Lodge (Exclusively at Ulta):Bringing back a beloved vault scent with a comforting blend of bright bergamot, soft rice milk and sweet vanillaAvailable in Shea Sugar Scrub

To take the guesswork out of shopping, the brand’s offerings include sets that are ideal for treating family or friends. The assortment features: Candy Cane Lane Gift Set, Mini Fan Favorites Gift Set, Angel Cake Gift Set (Target Exclusive), Holly Jolly Bear Bath Regimen Trio (Target Exclusive), 6 Days of Holidays Gift Set (Target Exclusive), Very Vanilla Gift Set (Ulta Exclusive) and Frosted Fairytale Gift Set (Ulta Exclusive). From playful treats to sweet holiday favorites, there is something to make every holiday wish list a little merrier.

For more information on Tree Hut, please visit treehutshea.com and follow the brand on Instagram and TikTok.

About Tree Hut
Tree Hut believes that everyone deserves to take time in their day to feel good. The family-owned brand still manufactures out of Coppell, TX, and has spent over twenty years making high-quality skin and body care at an affordable price. The now global Tree Hut brand has grown to include body and shave collections, known for delicious scents, bright packaging, and premium ingredients. With an uplifting, inclusive approach to self-care, Tree Hut has built its brand largely via word of mouth, with customers and beauty influencers alike passionately sharing their favorite products and avidly anticipating seasonal launches.

View original content to download multimedia:https://www.prnewswire.com/news-releases/tree-hut-unwraps-seven-festive-scents-in-its-new-limited-edition-holiday-collection-302924121.html

SOURCE Tree Hut

Continue Reading

Technology

Ruder Finn Promotes Tejas Totade to Global Chief Technology Officer and Chief Data & AI Officer

Published

17 minutes ago

on

November 2, 2026

By

NEW YORK, Nov. 2, 2026 /PRNewswire/ — Ruder Finn, one of the world’s leading independent communications and integrated marketing agencies, today announced the promotion of Tejas Totade to Global Chief Technology Officer and Chief Data & AI Officer, establishing a global leadership role that brings the agency’s technology, data and artificial intelligence capabilities under a shared strategic vision. Tejas has built a strong digital, analytics and engineering team with several dozen specialists in hubs across India, the Philippines, and New York.

The move reflects the growing connection of these disciplines across both Ruder Finn’s business and client work. In his expanded role, Totade will widen access to tools and training in every region and build the architecture that supports the agency’s AI capabilities end to end. The global mandate formalizes work he has led across markets over the past year, including AI strategy and adoption programs in India and the U.K.

“The greatest opportunity comes when we work together choosing the right technology, grounding it in data, and applying AI to solve a real business problem,” said Totade. “This role gives us an opportunity to create that shared vision globally and help our teams and clients translate the enormous potential of AI into measurable value.”

“Ruder Finn has always believed that technology should expand what communicators are able to accomplish, and Tejas has been central to building that capability within our agency,” said Kathy Bloomgarden, CEO of Ruder Finn. “As technology, data and AI become increasingly interconnected, we’re committed to bringing the most cutting edge AI capabilities to clients, under the leadership of Tejas.”

Ruder Finn has also appointed Nick Driver as Managing Director, Research and Analytics, reporting to Totade. With 20 years of experience applying insight and analytics to complex challenges, Driver will lead research and analytics in the U.S, working across practices and client teams to advance audience intelligence, AI-driven insights, and measurement. He will also help strengthen the connection between strategy and technology, with a focus on developing more rigorous, practice-specific approaches and demonstrating the business impact of communications.

“What drew me to Ruder Finn is the clarity of the agency’s tech-forward vision and the genuine commitment to making it real,” said Driver. “The technology, the talent and the ambition are already here. I’m excited to help make research and analytics an even more central part of how we understand audiences, guide strategy and demonstrate impact for clients.”

Together, these appointments further build out the leadership and expertise supporting Ruder Finn’s integrated approach to technology, data and AI.

Totade has spent more than 16 years at Ruder Finn building the agency’s technology, data and AI capabilities. He joined the company as a senior developer and went on to establish rf.TechLab, Ruder Finn’s emerging technology incubator, in 2018. Today, he leads an international team spanning engineering, analytics and digital development, co-leads the agency’s AI-powered creative studio rf.Studio53, and oversees research and insights capabilities that combine proprietary methodologies with enterprise analytics tools. He has received significant industry recognition, including PRWeek’s “40 Under 40”, PRovoke Media’s Data Professional of the Year award and being named one of the PRNews People of the Year in the Agency Innovators.

About Ruder Finn 

Ruder Finn is one of the world’s largest independent global communications and integrated marketing agencies, leading the industry in AI strategy and implementation. Founded in 1948, Ruder Finn has defined and redefined PR for over 75 years, shaping communications that move industry-defining brands, companies, and leaders from what’s now to what’s next. Ruder Finn provides clients with bold strategies based on a global perspective and localized market knowledge that redefine leadership, reimagine the marketplace, and rethink customer experiences. The agency is organized around five core areas of expertise—Healthcare, Technology, Consumer Brand, Leadership and Workplace—with innovative tech incubator RF TechLab providing cutting-edge predictive analytics, AI-powered creative hub RF Studio53 offering breakthrough creative, and specialized teams delivering customer-focused digital engagement. Ruder Finn has offices across four continents including the U.S., Asia, Europe and the Middle East. Wholly owned agencies and offerings within Ruder Finn Group include: Ruder Finn Inc., RF Studio53, RF Engage, Touchdown, Peppercomm, RF Comunicad, Mantis, jacobstahl, Flightpath, Ruder Finn Atteline, Pandan Social, RF Bloom, and Big Sky Communications. For more information visit www.ruderfinn.com.

Meghan.mahaffey@ruderfinn.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/ruder-finn-promotes-tejas-totade-to-global-chief-technology-officer-and-chief-data–ai-officer-302926576.html

SOURCE Ruder Finn

Continue Reading

Trending