3D Systems Opens CEO Search as Jeffrey Graves Prepares to Retire

3D Systems has begun searching for a new chief executive six years after Dr. Jeffrey Graves arrived to restructure the company. The leadership transition was disclosed alongside second-quarter 2026 results, with Graves set to retire from both the CEO role and the board once a successor is in place.

There is no interim CEO and no immediate effective date. Graves will remain in his current role until the board selects a replacement, then serve as a consultant for six months to support the handover. The board has engaged an executive search firm to lead the process and expects to name a new CEO later this year.

What the successor inherits

The company Graves leaves is leaner and more focused than the one he joined in May 2020. He rebuilt 3D Systems around Healthcare and Industrial segments, cut costs through a six-quarter restructuring program that generated more than $60 million in annualized savings, and narrowed the portfolio to four higher-margin markets: Aerospace & Defense, Data Center Infrastructure, Med Tech, and Dental.

Adjusted EBITDA in Q2 2026 improved by $4.6 million year-over-year to a loss of $0.8 million. For the first half of the year, the company delivered positive Adjusted EBITDA of $1.3 million, compared to a $30.8 million loss a year earlier. Non-GAAP operating expenses fell 11% to $39.5 million.

Revenue in Q2 was $94.6 million, down 0.3% year-over-year but up 1.4% excluding divestitures. Printer sales rose more than 45%, led by the DMP 350 metal system and SLA 825 polymer platform. Full-year 2025 revenue closed at $386.9 million, down 12%, with a $96.1 million operating loss.

Defense and aerospace lead the growth

The board is protecting execution on existing commitments while it hires. On August 10, 3D Systems disclosed a further $9 million U.S. Air Force award extending the Large-Format Metal 3D Printer Advanced Technology Demonstrator program through 2027. Total program funding now stands at $27.4 million.

The company has also projected Aerospace & Defense as its fastest-growing industrial line, with over 20% growth expected in 2026 and more than $35 million from production systems and custom metal parts. That pipeline, combined with a refreshed hardware portfolio and a leaner cost base, gives the incoming CEO a clearer strategic runway than Graves had on day one.