Q2 FY2026
Filed Aug 3, 20263D Systems Reports Second Quarter 2026 Financial Results
Revenue was $94.6 million, down 0.3% year-over-year on a GAAP basis, while Healthcare Solutions grew approximately 6.8% and Industrial Solutions declined approximately 6.7%. Cost reductions improved Adjusted EBITDA to a loss of $(0.8) million, but gross margin declined and the company reported a GAAP net loss of $(12.9) million.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Q2 2026 total revenueGAAP | $94.6M | – | down 0.3% year-over-year |
| Q2 2026 products revenueGAAP | $54.84M | – | – |
| Q2 2026 services revenueGAAP | $39.74M | – | – |
| Q2 2026 gross profitGAAP | $34.5M | – | – |
| Q2 2026 gross profit marginGAAP | 36.4% | – | – |
| Q2 2026 operating expenseGAAP | $45.1M | – | – |
| Q2 2026 operating lossGAAP | −$10.6M | – | – |
| Q2 2026 net loss attributable to 3D Systems CorporationGAAP | −$12.9M | – | decreased by $117.3 million |
| Q2 2026 diluted loss per shareGAAP | $(0.09) | – | – |
| Q2 2026 basic loss per shareGAAP | $(0.09) | – | – |
| Q2 2026 revenue excluding software divestituresnon-GAAP | $94.6M | – | increased 1.4% |
| Q2 2026 gross profit excluding software divestituresnon-GAAP | $34.7M | – | – |
| Q2 2026 gross profit margin excluding software divestituresnon-GAAP | 36.7% | – | decreased by 150 basis points |
| Q2 2026 non-GAAP operating expense excluding software divestituresnon-GAAP | $39.5M | – | – |
| Q2 2026 Adjusted EBITDA excluding software divestituresnon-GAAP | −$800K | – | improved by $4.6 million |
| Q2 2026 non-GAAP diluted loss per share excluding software divestituresnon-GAAP | $(0.04) | – | – |
| First half 2026 total revenueGAAP | $190.1M | – | – |
| First half 2026 gross profitGAAP | $68.8M | – | – |
| First half 2026 gross profit marginGAAP | 36.2% | – | – |
| First half 2026 operating expenseGAAP | $86.1M | – | – |
| First half 2026 operating lossGAAP | −$17.3M | – | – |
| First half 2026 net loss attributable to 3D Systems CorporationGAAP | −$17.3M | – | – |
| First half 2026 diluted loss per shareGAAP | $(0.12) | – | – |
| First half 2026 revenue excluding software divestituresnon-GAAP | $190.1M | – | increased 6% |
| First half 2026 gross profit margin excluding software divestituresnon-GAAP | 36.4% | – | – |
| First half 2026 non-GAAP operating expense excluding software divestituresnon-GAAP | $76.1M | – | – |
| First half 2026 Adjusted EBITDA excluding software divestituresnon-GAAP | $1.3M | – | – |
| First half 2026 non-GAAP diluted loss per share excluding software divestituresnon-GAAP | $(0.05) | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Q2 2026 Healthcare SolutionsHigher sales of new printer systems in Med Tech and continued growth in Personalized Healthcare Services. | $48.1M | – | increased approximately 6.8% |
| Q2 2026 Industrial SolutionsHigher product sales and over 20% growth in Aerospace & Defense and Data Center Infrastructure were offset by the absence of revenue from a non-core product offering exited in the prior year and lower hardware services revenue. | $46.5M | increasing 2.4% sequentially | decreased approximately 6.7%; decreased 3.7% year over year adjusting for divestitures |
| First half 2026 Healthcare SolutionsThe release identified Med Tech and Dental as priority Healthcare markets. | $98.2M | – | – |
| First half 2026 Industrial SolutionsThe release identified Aerospace & Defense and Data Center Infrastructure as priority Industrial markets. | $91.9M | – | – |
Third Quarter 2026 outlook
- Revenue$96 - $99 million
- NoteAdjusted EBITDA: ($3) million - ($1) million
What drove it
- Continued acceleration of new printer sales, with double-digit growth in both metal and polymer hardware printer systems.
- Healthcare revenue was supported by over 20% growth in Med Tech and 3% growth in Dental.
- The four priority markets, Med Tech, Dental, Aerospace & Defense, and Data Center Infrastructure, all delivered more than 20% growth in the first half of 2026.
- Gross profit was partially offset by approximately $2.6 million of tariff refunds recovered in the quarter.
- Adjusted EBITDA improved primarily from prior cost reduction initiatives and tariff refunds recovered in the quarter.
Concerns
- GAAP revenue decreased 0.3% year-over-year to $94.6 million.
- Industrial Solutions revenue decreased approximately 6.7% year-over-year, or 3.7% excluding divestitures.
- GAAP gross profit margin decreased to 36.4% from 38.1%, reflecting product mix, higher printer sales and select pricing impacts.
- The Company reported a GAAP net loss of $(12.9) million and guided Adjusted EBITDA to a range of ($3) million - ($1) million for the third quarter of 2026.
- Management said the global economic environment remains uncertain.
What to watch
- Execution against third quarter 2026 revenue guidance of $96 - $99 million.
- Third quarter 2026 Adjusted EBITDA guidance of ($3) million - ($1) million.
- Whether new printer systems continue to support growth in metal and polymer hardware printer systems.
- Sustainability of growth in Med Tech, Dental, Aerospace & Defense, and Data Center Infrastructure.
- Gross-margin progression following the quarter's product-mix effects, select pricing impacts and approximately $2.6 million of tariff refunds.
Balance sheet and cash flow
- At June 30, 2026, total cash was $129.0 million, including cash and cash equivalents of $128.0 million and restricted cash of $1.0 million.
- Cash and cash equivalents were $127,951 (in thousands) at June 30, 2026, compared with $95,635 (in thousands) at December 31, 2025.
- During the second quarter 2026, the Company issued 18.9 million shares of common stock for $53.2 million in cash, net of offering costs.
- Net cash used in operating activities was $(14,106) thousand for the six months ended June 30, 2026, compared with $(59,630) thousand for the six months ended June 30, 2025.
- Purchases of property and equipment were $(5,890) thousand for the six months ended June 30, 2026, compared with $(5,743) thousand for the six months ended June 30, 2025.
- Net cash provided by financing activities was $51,942 thousand for the six months ended June 30, 2026, compared with net cash used in financing activities of $(97,340) thousand for the six months ended June 30, 2025.
- A total of $3.9 million in principal amount of debt is scheduled to mature in the fourth quarter of 2026, with the remaining $92.0 million principal maturing in 2030.
- Current portion of long-term debt, net of deferred financing costs, was $3,944 (in thousands), and long-term debt, net of deferred financing costs, was $87,240 (in thousands), at June 30, 2026.
Analysis
Second-quarter revenue was $94.6 million, down 0.3% year-over-year on a GAAP basis. Excluding software divestitures, revenue was $94.6 million versus $93.3 million and increased 1.4%. The revenue profile was split between Healthcare Solutions, which increased approximately 6.8% to $48.1 million, and Industrial Solutions, which decreased approximately 6.7% to $46.5 million. Industrial revenue increased 2.4% sequentially, while the release attributed the year-over-year decline in part to the exit of a non-core product offering and lower hardware services revenue.
Demand commentary centered on new printer systems and the four priority markets. The company cited double-digit growth in both metal and polymer hardware printer systems, more than 20% growth in Med Tech, Aerospace & Defense and Data Center Infrastructure, and 3% growth in Dental. Healthcare growth was tied to new Med Tech printer sales and Personalized Healthcare Services. Industrial performance benefited from higher product sales and growth in Aerospace & Defense and Data Center Infrastructure, but those strengths did not offset the reported year-over-year Industrial decline.
Profitability improved at the operating level but gross margin contracted. GAAP gross profit margin was 36.4%, compared with 38.1% in the prior-year period. Non-GAAP gross profit margin excluding software divestitures was 36.7%, compared with 38.2%, a decrease of 150 basis points. The company cited product mix from higher printer sales and select pricing impacts, partially offset by approximately $2.6 million of tariff refunds. GAAP operating loss narrowed to $(10.6) million from $(15.4) million, while non-GAAP operating expense excluding software divestitures declined to $39.5 million from $44.6 million.
GAAP net loss attributable to 3D Systems Corporation was $(12.9) million, compared with income of $104.4 million in the prior-year period. The company said the decline primarily reflected the prior-year gain on the sale of Geomagic and gain on debt extinguishment, partially offset by improved operating margins and a lower income tax provision. Adjusted EBITDA excluding software divestitures improved to a loss of $(0.8) million from a loss of $(4.7) million. For the first half, Adjusted EBITDA excluding software divestitures was positive $1.3 million, compared with $(30.8) million.
Liquidity increased after the company issued 18.9 million shares for $53.2 million in cash, net of offering costs. Total cash was $129.0 million at June 30, 2026, while $3.9 million of principal debt is scheduled to mature in the fourth quarter of 2026 and $92.0 million in 2030. Net cash used in operating activities for the first half was $(14,106) thousand. For the third quarter, management guided revenue to $96 - $99 million and Adjusted EBITDA to ($3) million - ($1) million, framing continued revenue growth alongside an expected adjusted EBITDA loss.
Management, verbatim
We are pleased with our second-quarter and first-half performance on both the top and bottom line. Revenue growth was driven by strength in our four key markets: Med Tech and Dental in Healthcare, and Aerospace & Defense and Data Center Infrastructure in Industrial.
Dr. Jeffrey Graves, President and Chief Executive Officer of 3D Systems
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.
Dr. Jeffrey Graves, President and Chief Executive Officer of 3D Systems
Adjusting for divestitures completed in 2025, total revenue increased 1.4% year over year and 6% for the first half of 2026, demonstrating continued core revenue growth in the year
Phyllis Nordstrom, Chief Financial Officer of 3D Systems
Not in the filing
stated, not guessed- Previous-release outlook was not provided, so no comparison of actual results with prior guidance is available.
- Prior-quarter comparative values were not reported for the consolidated financial metrics, except that Industrial revenue was stated to be increasing 2.4% sequentially.
- Free cash flow was not reported.
- Quarterly operating cash flow and quarterly capital expenditures were not reported.
- Dividend information was not reported.
- Third quarter 2026 guidance for gross margin, operating expenses and tax rate was not reported.
- A quantitative GAAP reconciliation for forward-looking Adjusted EBITDA was not provided.
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.