Second Quarter 2026
Filed Aug 3, 20263D Systems Reports Second Quarter 2026 Financial Results
Revenue declined 0.3% year-over-year and gross profit margin declined to 36.4%, while Healthcare Solutions grew 6.8%, Adjusted EBITDA improved to a loss of $(0.8) million, and the company guided for Q3 revenue of $96 - $99 million.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| RevenueGAAP | $94.6 million | – | down 0.3% year-over-year |
| Gross profitGAAP | $34.5 million | – | – |
| Gross profit marginGAAP | 36.4% | – | – |
| Operating expenseGAAP | $45.1 million | – | – |
| Operating lossGAAP | $(10.6) million | – | – |
| Net loss attributable to 3D Systems CorporationGAAP | $(12.9) million | – | decreased by $117.3 million |
| Diluted loss per shareGAAP | $(0.09) | – | – |
| Non-GAAP revenuenon-GAAP | $94.6 million | – | 1.4% |
| Non-GAAP gross profit marginnon-GAAP | 36.7% | – | – |
| Non-GAAP gross profit margin, narrative comparisonnon-GAAP | 36.7% | – | decreased by 150 basis points |
| Non-GAAP operating expensenon-GAAP | $39.5 million | – | – |
| Adjusted EBITDAnon-GAAP | $(0.8) million | – | improved by $4.6 million |
| Non-GAAP diluted loss per sharenon-GAAP | $(0.04) | – | – |
| Six-month revenueGAAP | $190.1 million | – | – |
| Six-month gross profitGAAP | $68.8 million | – | – |
| Six-month gross profit marginGAAP | 36.2% | – | – |
| Six-month operating expenseGAAP | $86.1 million | – | – |
| Six-month operating lossGAAP | $(17.3) million | – | – |
| Six-month net loss attributable to 3D Systems CorporationGAAP | $(17.3) million | – | – |
| Six-month diluted loss per shareGAAP | $(0.12) | – | – |
| Six-month non-GAAP revenuenon-GAAP | $190.1 million | – | 6% |
| Six-month non-GAAP gross profit marginnon-GAAP | 36.4% | – | – |
| Six-month non-GAAP operating expensenon-GAAP | $76.1 million | – | – |
| Six-month Adjusted EBITDAnon-GAAP | $1.3 million | – | – |
| Six-month non-GAAP diluted loss per sharenon-GAAP | $(0.05) | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Healthcare SolutionsHigher sales of new printer systems in Med Tech and continued growth in Personalized Healthcare Services. | $48.1 million | – | increased approximately 6.8% |
| Industrial SolutionsThe year-over-year decline was primarily driven by the absence of revenue from a non-core product offering exited in the prior year and lower hardware services revenue. Sequential growth was driven by higher product sales and over 20% growth in Aerospace & Defense and Data Center Infrastructure. | $46.5 million | increasing 2.4% sequentially | decreased approximately 6.7%; decreased 3.7% year over year adjusting for divestitures |
Third Quarter 2026 outlook
- Revenue$96 - $99 million
- NoteAdjusted EBITDA: ($3) million - ($1) million
What drove it
- Revenue growth excluding divestitures was driven by continued acceleration of new printer sales, with double-digit growth in metal and polymer hardware printer systems.
- Healthcare growth 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.
- Adjusted EBITDA improved primarily from prior cost reduction initiatives and tariff refunds recovered in the quarter.
- Gross profit was partially offset by approximately $2.6 million of tariff refunds recovered in the quarter.
Concerns
- Reported 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%.
- Gross profit was impacted by product mix reflecting higher printer sales and select pricing impacts.
- The company cited an uncertain global economic environment.
- Third-quarter Adjusted EBITDA guidance is a loss of ($3) million - ($1) million.
- The summary table reports prior-year non-GAAP gross profit margin of 38.2%, while the narrative comparison cites 39.2%.
What to watch
- Execution against Third Quarter 2026 revenue guidance of $96 - $99 million.
- Progress toward the Third Quarter 2026 Adjusted EBITDA range of ($3) million - ($1) million.
- Sustained growth in Med Tech, Dental, Aerospace & Defense, and Data Center Infrastructure.
- The effect of product mix, pricing impacts, and hardware services revenue on gross profit margin.
- The impact of capital investment activity and global manufacturing capacity expansion on customer demand.
- Debt maturities of $3.9 million in the fourth quarter of 2026 and $92.0 million in 2030.
Balance sheet and cash flow
- During the second quarter 2026, the Company issued 18.9 million shares of common stock, par value $0.001 per share, for $53.2 million in cash, net of offering costs.
- At June 30, 2026, the Company had total cash of $129.0 million, which included cash and cash equivalents of $128.0 million and restricted cash of $1.0 million.
- 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.
- Cash and cash equivalents were $127,951 as of June 30, 2026, compared with $95,635 as of December 31, 2025.
- Inventories were $121,847 as of June 30, 2026, compared with $127,496 as of December 31, 2025.
Analysis
Second-quarter reported revenue was $94.6 million, down 0.3% year-over-year, while non-GAAP revenue excluding divestitures was $94.6 million compared with $93.3 million and management described core revenue growth of 1.4%. Healthcare Solutions was the larger segment at $48.1 million and increased approximately 6.8%, led by new printer systems in Med Tech and continued growth in Personalized Healthcare Services. Industrial Solutions generated $46.5 million, declined approximately 6.7% year-over-year, but increased 2.4% sequentially as higher product sales and growth in Aerospace & Defense and Data Center Infrastructure offset some of the year-over-year pressure.
Profitability improved on operating costs but gross margin declined. GAAP operating expense was $45.1 million versus $51.5 million, and non-GAAP operating expense was $39.5 million versus $44.6 million. Adjusted EBITDA improved by $4.6 million to a loss of $(0.8) million, which management attributed to prior cost reduction initiatives and tariff refunds. The company reported approximately $2.6 million of tariff refunds recovered in the quarter, which partially offset gross-profit pressure from product mix, higher printer sales, and select pricing impacts.
GAAP gross profit margin was 36.4%, compared with 38.1% in the prior-year period. The summary table presents non-GAAP gross profit margin of 36.7% and a prior-year figure of 38.2%, while the narrative says 36.7% compared with 39.2% and cites a 150-basis-point decline adjusting for software divestitures. This discrepancy in the reported prior-year non-GAAP margin comparison warrants attention. Net loss attributable to 3D Systems Corporation was $(12.9) million, compared with net income of $104.4 million, with the company citing the prior-year gain on the sale of Geomagic and gain on debt extinguishment as primary factors.
For the first half of 2026, revenue was $190.1 million, gross profit was $68.8 million, and Adjusted EBITDA was positive $1.3 million. Management said all four priority markets delivered more than 20% growth in the first half. The company raised $53.2 million in cash, net of offering costs, through the issuance of 18.9 million shares of common stock and reported total cash of $129.0 million at June 30, 2026. Debt principal maturities include $3.9 million in the fourth quarter of 2026 and $92.0 million in 2030.
Third-quarter guidance calls for revenue of $96 - $99 million and Adjusted EBITDA of ($3) million - ($1) million. The guidance implies that management expects revenue above the reported second-quarter level, while the Adjusted EBITDA range remains negative. Management did not provide forward-looking GAAP guidance or a quantitative reconciliation for forward-looking Adjusted EBITDA, citing uncertainty around items including litigation, acquisition, stock-based compensation, intangible amortization, restructuring, and goodwill impairment.
Management, verbatim
We are pleased with our second-quarter and first-half performance on both the top and bottom line.
Dr. Jeffrey Graves, President and Chief Executive Officer of 3D Systems
While the global economic environment remains uncertain, we are optimistic that, as capital investment activity strengthens, we are well positioned to benefit from the resulting expansion in global manufacturing capacity.
Dr. Jeffrey Graves, President and Chief Executive Officer of 3D Systems
Strong growth in our key markets along with accelerated growth in new printer launches contributed to our success in the quarter.
Phyllis Nordstrom, Chief Financial Officer of 3D Systems
Not in the filing
stated, not guessed- Prior-quarter comparisons for total revenue, gross profit, gross profit margin, operating expense, operating loss, net loss, EPS, non-GAAP revenue, non-GAAP operating expense, and Adjusted EBITDA were not provided.
- Operating cash flow was not provided in the supplied filing text.
- Free cash flow was not provided in the supplied filing text.
- Capital return activity, including share repurchases and dividends, was not provided in the supplied filing text.
- Total debt was not explicitly reported as a single line item in the supplied filing text.
- Third Quarter 2026 GAAP revenue, gross margin, operating expenses, tax rate, operating income, net income, and EPS guidance were not provided.
- Previous-period outlook was not provided, so comparison of actual results with prior guidance is unavailable.
- The supplied filing text is truncated during the condensed consolidated balance sheets, preventing capture of additional balance-sheet and cash-flow line items.
AlphaAI 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.