3D Systems Q2 Revenue Holds at $94.6M, Healthcare Grows 6.8%

Revenue Flat, but Core Business Is Growing

3D Systems reported second-quarter revenue of $94.6 million, essentially flat year-over-year. Strip out the software businesses the company sold in 2025, and revenue rose 1.4%. That modest gain came from double-digit growth in both metal and polymer hardware systems, offset by a 6.7% decline in the industrial segment that included the divested software operations.

Healthcare Leads the Way

Healthcare remained 3D Systems' largest segment, with revenue rising 6.8% to $48.1 million. Med Tech grew over 20%, while the dental business added 3% growth. The company is clearly counting on patient-specific surgical guides, implants, and dental appliances to anchor its recovery. Industrial revenue increased 2.4% sequentially, driven by aerospace and defense, which grew more than 20% and remains the company's largest industrial market. Data center infrastructure, a newer focus covering chip-making equipment and high-performance computing hardware, also contributed.

CEO Transition Looms Over Results

Dr. Jeffrey Graves, who announced his pending departure earlier this week, framed the quarter as evidence that the company's pivot is working. "As the additive manufacturing industry continues to emerge from a multi-year downturn, our sustained investments in research and development are now enabling us to introduce a broad portfolio of new products that are gaining increasing customer traction," Graves said in the earnings release.

Adjusted EBITDA improved to a loss of $0.8 million, down sharply from a $5.3 million loss a year earlier. The net loss for the quarter was $12.9 million. For the first half of 2026, the company posted positive adjusted EBITDA of $1.3 million. Cash on hand rose to $127.9 million after the company issued 18.9 million shares in an equity raise earlier in the year.

Guidance and Risks

3D Systems expects third-quarter revenue between $96 million and $99 million. The company still reports material weaknesses in internal controls, and high short positioning in the stock adds volatility risk. The CEO search, now underway, will determine whether the current strategy holds under new leadership.

The results suggest 3D Systems is slowly stabilizing, but profitability remains elusive and the transition at the top adds uncertainty heading into the second half of 2026.