Formlabs Shuffles Its Board Ahead of an IPO

Formlabs is rearranging its leadership in ways that point toward an eventual public listing. The company has brought on Dan Riccio as a strategic advisor and investor, while Natan Liner steps down as chairman and moves into an advisory role. CEO Max Lobovsky is now chairman, and Dávid Lakatos has been elevated to president and board member.

Why Riccio matters

Dan Riccio spent years as Apple's senior vice president of hardware engineering, working on the iPad, Mac, and iPhone. Before that, he was director of product design at Apple and mechanical engineering manager at Compaq. His résumé is exactly what Formlabs needs if it wants to scale industrial hardware production.

Lobovsky said Riccio will advise on product development, design rigor, and operational scaling as the company expands its industrial and professional 3D printing footprint. Riccio's statement reinforces the fit: he described Formlabs as having one of the most complete hardware, software, and materials platforms he has seen outside of the best consumer companies.

The IPO signals

Formlabs now has a head of investor relations, a role typical of public companies and unusual for a private startup. That, combined with the board changes, makes the IPO narrative hard to ignore. The question is where and when. A Chinese listing looks attractive because valuations are higher there, but the Chinese economy is facing serious headwinds. A US listing is possible but comes with its own scrutiny.

The timing will depend on how fast Formlabs can grow revenue and prove that it can sustain margins at scale. The company has been steadily expanding beyond desktop resin printing into industrial SLS and metal systems. If those larger machines start shipping in volume, the revenue growth could justify a public valuation.

What this means for the market

Formlabs is the most successful consumer 3D printing brand in history, and an IPO would be a major moment for the industry. It would give investors a pure-play on professional and industrial additive manufacturing at a time when the sector is getting more mainstream attention. Rivals like Bambu Lab are also growing fast, and a public Formlabs would set a valuation benchmark that the whole market will watch.

For now, the company is focused on execution. Liner's departure is a natural evolution for a firm that has outgrown its founding team structure. Lobovsky remaining as chairman keeps the founder vision intact, while Lakatos's promotion rewards the operational leader who helped scale the business. It is a sensible shuffle, and it sets the table for whatever comes next.