This discussion should be read in conjunction with the unaudited condensed
consolidated financial statements and the notes thereto included in Item 1 of
this Quarterly Report on Form 10-Q ("Form 10-Q").
We are subject to a number of risks and uncertainties that may affect our future performance that are discussed in greater detail in the sections entitled "Forward-Looking Statements" and "Cautionary Statements and Risk Factors" at the end of this Item 2 and that are discussed or referred to in Item 1A of Part II of this Form 10-Q. Business Overview We are a global provider of three-dimensional ("3D") content-to-print solutions including 3D printers, print materials and on-demand custom parts services for professionals and consumers with materials ranging from thermoplastics, metals, ceramics, and edible sugar. We also provide CAD modeling, reverse engineering and inspection software tools and consumer 3D printers, applications and services. Our integrated solutions replace and complement traditional methods and reduce the time and cost of designing and manufacturing products. Our solutions are used to rapidly design, create, communicate, prototype or produce real, functional parts, empowering customers to manufacture the future. We derive our consolidated revenue primarily from the sales of our printers, the sales of the related print materials and services, the sales of our Quickparts brand on-demand parts services and the sales of design reverse engineering and inspection software tools. Recent Developments We have continued to execute on our strategic initiatives, including growing our Quickparts on-demand parts services, accelerating 3D printer penetration, expanding our healthcare solutions offerings, building 3D consumer and retail products and services and expanding our integrated 3D authoring solutions platform. In July, we completed the acquisition of 82% of the shares of Phenix Systems, a global provider of direct metal selective laser sintering 3D printers based in Riom,
France. Phenix Systems designs, manufactures and sells proprietary direct metal 3D printers that can print chemically pure, fully dense metal and ceramic parts from very fine powders and from materials including stainless steel, tool steel, super alloys, non-ferrous alloys, precious metals and alumina for a variety of aerospace, automotive and patient-specific medical device applications. Phenix adds proprietary, direct metals printing capabilities to our advanced manufacturing portfolio. In July, we also announced the availability of VisiJetŪ M3 Black, a new plastic injection molding-like material for use in our ProJetŪ 3500/3510 professional 3D printers. VisiJetŪ M3 Black further expands the range of use cases of our ProJetŪ printers into more demanding, functional, end use parts and products. In August, we announced the acquisition of VisPower Technology, Inc., a cloud-based, collaborative design and project management platform ("TeamPlatform"). TeamPlatform allows product design, engineering services and manufacturing companies to easily manage hundreds of small or large projects with data being shared and used concurrently, and strengthens our consumer and professional design and communications capabilities.
In August, as part of our Quickparts initiative, we acquired