3D Systems Q2 2026: Healthcare Revenue Grows as EBITDA Loss Narrows

Revenue Stable, Loss Shrinking

3D Systems Corporation reported second quarter 2026 revenue of $94.6 million, essentially flat compared to $94.8 million in the same quarter last year. The headline number looks unremarkable, but the underlying trend is more interesting. Excluding software divestitures completed in 2025, revenue grew 1.4 percent year over year. For the first half of 2026, that adjusted growth figure reached 6 percent. That is not a boom, but it is the first sustained growth period 3D Systems has posted since the additive manufacturing market cooled in 2023.

The adjusted EBITDA loss narrowed sharply. In Q2 2025, the company posted an adjusted EBITDA loss of $4.7 million. In Q2 2026, that loss compressed to $0.8 million. The improvement came primarily from cost reductions implemented over the previous four quarters, plus roughly $2.6 million in tariff refunds recovered during the period.

Healthcare Leads the Way

Healthcare Solutions revenue rose 6.8 percent to $48.1 million in the quarter. Growth came from new printer system sales in the Med Tech segment and continued expansion in Personalized Healthcare Services, the part of the business that produces patient-specific surgical guides and implants. Healthcare now represents just over half of total company revenue, which makes 3D Systems increasingly a medical technology story rather than an industrial manufacturing story.

The data center infrastructure segment is the fastest growing part of the industrial side. 3D Systems counted chip manufacturing equipment and high-performance computing applications as emerging revenue drivers, with customers adopting metal and polymer 3D printing as core production processes rather than experimental tools.

Industrial Mixed Results

Industrial Solutions revenue fell 6.7 percent to $46.5 million. Adjusting for divestitures, the decline was 3.7 percent. The company cited the absence of revenue from a non-core product line exited in the prior year and lower hardware services revenue. Aerospace and Defense remained solid, but the broader industrial segment has not recovered at the pace 3D Systems hoped for when it restructured in 2025.

Gross profit margin slipped to 36.4 percent from 38.1 percent in Q2 2025. Product mix was the culprit: higher printer sales carry lower margins than services and materials, and some pricing pressure from competitors reduced realized prices in specific product lines.

Liquidity and Outlook

3D Systems raised $53.2 million in cash during Q2 through an 18.9 million share equity offering. Total cash at quarter end was $129 million, including $128 million in unrestricted cash equivalents. The company has $3.9 million in debt maturing in Q4 2026 and $92 million due in 2030, so near-term liquidity is not a concern.

Third quarter 2026 guidance calls for revenue of $96 million to $99 million, with adjusted EBITDA expected between a $3 million loss and a $1 million loss. If the company hits the top of that range, it would represent the first sequential quarterly revenue growth in over two years.

President and CEO Dr. Jeffrey Graves struck an optimistic tone on the call, citing strength in the four key markets and pointing to metal 3D printing as an area where design flexibility is translating into real production adoption. Whether that optimism translates into a profitable quarter depends on whether hardware sales accelerate through the rest of the year. For now, the trend is moving in the right direction, even if the pace is slower than investors would prefer.