3D Systems Corporation

Second quarter revenue was $94.6 million, up 1.4% year over year. Non-GAAP gross margin was 36.7%, adjusted EBITDA was negative $0.8 million, and non-GAAP EPS was negative $0.04, improving by $3.9 million in EBITDA and $0.02 per share versus the prior-year period. Healthcare Solutions revenue was $48.1 million, up 6.8%, and Industrial revenue was $46.5 million, down 3.7%. For the first half of 2026, revenue rose 6% year over year and adjusted EBITDA was positive $1.3 million. The company ended the quarter with $129 million in cash, cash equivalents and restricted cash, and $96 million of total debt. For Q3 2026, management guided to revenue of $96 million to $99 million and adjusted EBITDA of negative $3 million to negative $1 million.

Jeffrey Graves framed the quarter as evidence that customer capital spending is returning in the company’s target markets, with the refreshed portfolio now aligned to that demand. He emphasized four priority markets—medtech, dental, aerospace and defense, and data center infrastructure—and said these are now “firing” as printer sales, materials, and parts all gain traction. He also described the planned CEO transition as a positive, deliberate handoff now that the company has cut costs, refreshed the portfolio, and is positioned for the next phase of growth.

Phyllis Nordstrom said the quarter reflected higher revenue, disciplined cost control, and operational efficiencies. She cited non-GAAP gross margin of 36.7%, non-GAAP operating expenses of $39.5 million, adjusted EBITDA of negative $0.8 million, and the completion of a six-quarter cost reduction program that delivered a little more than $60 million of annualized savings. She also noted $2.6 million of tariff refunds in the quarter, $53 million of net proceeds from an equity offering, quarter-end cash of $129 million, and debt of $96 million with $3.9 million due in Q4 2026 and $92 million due in 2030.

Analysts focused on NextDent adoption, the timing of the CEO transition, margin trends, and whether the company can get back to positive EBITDA. Graves said denture demand has been strong, with early lab customers already adding units, and he expects the market to build over a couple of years as marketing and sales scale. On the leadership change, he said the search has just begun and could take many months, and that the timing reflects an opportunity to hand off a leaner, better-positioned company. Management also said Q3 margins may be slightly pressured by a printer-heavy mix, while profitability should improve as printer shipments drive materials pull-through and metal parts volume.