3D Systems reports Q1 2026 results, sparking cautious optimism
The Atomic Layers: 00320
Atomic Layer of the Week:
3D Systems has released its financial results for the first quarter of 2026. At first glance, they may not look particularly spectacular, but as is often the case in the AM industry - the devil is in the details.
Revenue reached $95.5 million, representing 1% year-over-year increase, which is hardly impressive on its own. But once we account for the divestiture of several key software businesses in 2025 - Geomagic, 3DXpert, and Oqton - the picture changes dramatically.
On an organic basis, revenue grew by 11%. And that is not a difference that can be dismissed lightly.
The company continues to distance itself from assets that failed to generate sufficient value and is focusing on businesses that make strategic sense.
The Healthcare segment grew 21% year-over-year, reaching $50.1 million - and for the first time in the company’s history, it approached the scale of the Industrial segment. The strongest growth drivers were Dental and Med Tech, both posting growth rates above 20%.
The Industrial segment declined by 15%, although after adjusting for divestitures it showed modest 2% growth. Aerospace and defense remain the largest and one of the fastest-growing subsegments within Industrial.
Profitability also showed clear improvement. Adjusted EBITDA turned positive for the first time in years, reaching $2.1 million compared to negative $23.9 million a year ago.
Net loss narrowed dramatically: from -$37 million down to just -$4.4 million.
It may be too early to call it a breakthrough, but it is equally difficult to ignore the scale of improvement achieved within a single year.
It is also worth mentioning an event that illustrates where 3D Systems sees future growth opportunities. The new Cadillac Formula 1 team - the newest entrant in the FIA championship - has deployed seven SLA systems from 3D Systems. Formula 1 remains the ultimate laboratory for the automotive industry and, at the same time, a global showcase for advanced manufacturing technologies.
Still, this mood of cautious optimism must be viewed within a broader context that leaves little room for euphoria.
Guidance for Q2 2026 projects revenue in the range of $93-95 million and a return of Adjusted EBITDA to negative territory: between negative $4 million and negative $2 million.
In other words, Q1 was seasonally strong, and the company itself warns that this result should not be interpreted as a straight-line trajectory forward. Management pointed to global logistical disruptions - including war in the Middle East - as a risk factor for supply chains in the coming months.
The question that has hovered over the AM industry for years remains unanswered: when will revenue growth become sustainable enough to justify reinvestment at a scale that enables genuine expansion?
3D Systems still has cash - $86.5 million at the end of March - and is expanding its Littleton facility by 80,000 square feet to support production of metal aerospace components.
In the 3D printing industry, every quarter without a creeping crisis counts as a success. Q1 2026 was something more - the first moment in quite some time when it became possible to say that the company may have finally found a direction that genuinely works.
This is not yet a story of triumph, but it is no longer merely a story of survival either.
Atomic Layer from the Past:
13 years ago, Formlabs launched PreForm software for its Form 1 SLA printer. Unlike costly industrial alternatives, PreForm simplified resin printing with intuitive supports and orientation tools. This milestone made desktop SLA accessible to hobbyists and small businesses, sparked a resin printing revolution, and established Formlabs as an industry leader.
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News & Gossip:
#1
Unfortunately, not all of the industry’s leading companies performed equally well in the first quarter of the year… Nano Dimension began 2026 with significantly higher Q1 revenue, reaching $29.7 million, but it was mainly due to the inclusion of Markforged.
At the same time, the company reported quite a significant net loss of $69.7 million, largely tied to a $40.4 million writedown of Markforged’s value 😱
Excluding Markforged, Nano’s core revenue declined -12% year-over-year. The company suspended its 2026 guidance while pursuing strategic alternatives, including potential mergers and asset sales.
Nano recently sold its AME and Fabrica businesses to reduce annual cash burn, while focusing future growth on Markforged and Essemtec operations (I was describing this here)
#2
Chinese Peopoly launched the Giga 800, a large-format FGF 3D printer with an 800 mm build volume priced at just $15,000. It uses industrial pellets instead of filament, reportedly extruding 3 kg/hour.
It is based on Klipper firmware - same as all current filament desktop printers. Designed as “air-gap ready” for defense and aerospace, the printer targets applications like molds and fixtures. Early access is open for commercial partners.
#3
Endless Industries has integrated its continuous fiber reinforcement technology into BigRep’s large-format IPSO 105 printer after nearly two years of development.
The result? Parts that can be up to 20x stronger than standard thermoplastics while remaining significantly cheaper than traditional automated fiber placement technologies 👀
The system uses recyclable materials such as PA and PP and is aimed at aerospace, medical, and tooling applications - sectors where strength-to-weight ratio is critical.
Joint sales across Europe are scheduled to begin in summer 2026, with global expansion planned through 2028.
#4
Samuel, Son & Co. has officially exited the 3D printing industry by selling its AM subsidiary, Burloak Technologies, to i3D MFG - a division of BTX Precision.
Burloak operates more than 30 metal 3D printers across two facilities, and after the acquisition the combined organization now controls over 60 systems focused on aerospace, defense, and medical manufacturing.
Another sign that consolidation in metal AM is far from over
#5
Some of you may have heard about the drama currently unfolding across social media and YouTube regarding Bambu Lab and the company’s supposedly negative approach to open-source.
Unfortunately, due to my contractual obligations, I can’t reveal much… which is a shame, because as usual, the situation has a far more interesting background than what the clickbaiters are presenting.
It’s obvious that Bambu Lab made mistakes here - but not necessarily in the areas people are pointing to.
Besides… there still isn’t a better alternative anyway 🤣
#6
Because one of the potential alternatives got carried away on social media and, taking advantage of its competitor’s stumble, published a long post about the “Evil China”:
But people are already noticing how awkward it is, and they are calling it out:
I wish the man had better advisors. Or start listen to them if he has.