3D Systems cuts costs, revenue declines in Q3 – outlook sees 8–10% sequential growth

3D Systems has released its figures for the third quarter of 2025. Revenue was $91.2 million, down 19 percent from the previous year. The gross margin fell from 36.9 percent to 32.3 percent. The bottom line is a net loss of $18.1 million, after high impairment charges weighed on the balance sheet in the previous year. The loss per share was $0.14.

In the Healthcare segment, the group generated sales of $42.8 million, down 22 percent. Industrial Solutions generated $48.5 million, down 16 percent from the previous year. Regenerative medicine revenues declined compared to the second quarter because a milestone had generated one-time sales in that quarter. The hardware business developed positively on a sequential basis: new printer systems led to more deliveries, which should result in higher material and service sales later on.

Cost control is taking effect. Operating expenses fell significantly to $50.7 million; non-GAAP, the figure was $44.7 million. Adjusted EBITDA improved to minus $10.8 million. CEO Jeffrey Graves sees a slight tailwind in the target markets and forecasts “sequential revenue growth of 8 to 10 percent in the fourth quarter.” The drivers are expected to be healthcare applications, aerospace, and, for the first time in several quarters, the consumer business. In the dental sector, management expects stabilization after weakness in the aligner market; new monolithic prostheses are providing additional momentum here.

Financial leeway remains limited. As of September 30, 3D Systems had $114.2 million in cash and cash equivalents and $122.6 million in debt. Of this, $34.7 million is due in 2026 and another $92.0 million in 2030. Cash on hand has decreased by $75.8 million since the beginning of the year, primarily due to cash outflows from operating activities.

For the fourth quarter, the company expects stable margins with seasonally higher customer investments. The growing printer mix is weighing on gross margins in the short term, but is strengthening the installed base. This is important for additive manufacturing because material consumption and services drive recurring revenues. The coming months will show whether order momentum will translate cost reductions into sustainable growth.