3D Sys (NYSE: DDD ) released first-quarter financial results and hosted an earnings call on Tuesday. Read the complete transcript below. Benzinga APIs provide real-time access to earnings call transcripts and financial data. Visit https://www.benzinga.com/apis/ to learn more. Access the full call at https://event.choruscall.com/mediaframe/webcast.html?webcastid=txqlq7Fn Summary 3D Sys reported a strong first quarter for 2026, with consolidated revenue of $95.5 million, an 11% increase year-over-year, driven by growth in medtech, dental, and aerospace and defense markets. The company highlighted significant growth in printer and material sales, particularly in metals, and a successful launch of the NextDent 300 jetted denture printing systems, which have expanded its dental market footprint. 3D Sys is expanding its Littleton, Colorado facility to support aerospace and defense component production, expecting continued growth in these sectors, with plans to maintain disciplined cost management and achieve breakeven adjusted EBITDA for the full year. Full Transcript OPERATOR Greetings and welcome to the 3D Systems First Quarter 2026 Earnings Conference Call and webcast. At this time, all participants are in listen only mode. A question and answer session will follow the formal presentation and you may be placed in the question queue at any time. Please by pressing Star1 on your telephone keypad. As a reminder, this conference is being recorded. If anyone should require operator assistance, please press Star zero. It's now my pleasure to turn the call over to Vice President Investor Relations, Monica Gould. Monica, please go ahead. Monica Gould (Vice President Investor Relations) Hello and welcome to 3D Systems first quarter 2026 earnings conference call. With me on today's call are Dr. Jeffrey Graves, President and CEO, and Phyllis Nordstrom, Chief Financial Officer. The webcast portion of this call contains a slide presentation that we will refer to during the call. Those following along on the phone who wish to access the slide portion of this presentation may do so on the Investor Relations section of our website. The following discussion and responses to your questions reflect Management's views as of today only and will include forward looking statements as described on this slide. Actual results may differ materially. Additional information about factors that could potentially impact our financial results is included in our latest press release and our filings with the SEC, including our most recent annual report on Form 10K and quarterly reports on Form 10Q. During this call, we will discuss certain non GAAP financial measures. In our press release and slides accompanying this webcast, you will find additional disclosures regarding these non GAAP measures, including reconciliations with comparable GAAP measures. And with that, I'd like to turn the call over to Our President and CEO, Dr. Jeffrey Graves for opening remarks. Jeffrey Graves Thank you Monica and good morning everyone. Building on the momentum we achieved in the fourth quarter of last year, I'm pleased to report a strong first quarter performance for 2026. I'll start today by reviewing a few highlights from our first quarter and provide some comments on overall market conditions. I'll then provide an update on our business strategy and key growth initiatives. After this, I'll turn things over to our CFO Phyllis Nordstrom to summarize the quarter's financials. When Phyllis concludes, we'll open up the call for Q and A. So let's turn to Slide 5. The Additive Manufacturing industry is now beginning to emerge from a multi year trough driven largely by global economic and geopolitical challenges that led customers to severely curtail capital spending. Our company's targeted investments in research and development, which we sustained in the face of intense cost pressures over this period, are now enabling us to introduce a completely refreshed portfolio of new products spanning from direct metal printing systems to the five major polymer printing platforms. No company in our industry can match this range of technologies nor the product performance that these systems can deliver. While it's been a painful period, the results can now begin to be seen in our performance and there's much more excitement to come. I want to thank our dedicated employees for their hard work over the last few years in a highly cost constrained environment. Speaking directly to my colleagues around the world, the success we're now seeing is a direct reflection of your talent and commitment to our company and to our customers. To derive the highest value from R and D investments, we focus them intensely on our three key growth markets, aerospace and Defense, Medtech and dental. These markets in particular derive enormous value from 3D printing and are all expected to grow significantly in the years ahead. They are also the most challenging markets to penetrate given the extreme requirements for quality, precision reproducibility and regulatory oversight. Fortunately, we have a rich history and strong foundation in each of these markets which provides the critical infrastructure and expertise needed for Success. On slide 6, our Q1 highlights tell a story. Solid growth in printer sales Increased momentum in part sales Strong growth in healthcare material sales these results reflect the impact of our technology and market focus. From a product standpoint, we saw double digit year over year growth in printer and material sales as well as parts manufacturing, particularly in metals. We also saw balanced growth across both of our business units, health care and industrial. Turning to Slide 7 in MedTech, we continue to build on our market leading position. During the first quarter we saw strong double digit year over year growth in several key areas including medical parts manufacturing, printer sales and surgical planning services. Medical parts manufacturing demand was driven specifically by titanium spinal implants and both titanium and cobalt chrome joint implants used in replacement procedures. Printer revenue was led by sales of our DMP350 metal printer to medical device customers who are now entering a refresh and expansion cycle. This growth was partially offset by lower than expected sales to one key customer due to a temporary disruption in their internal operations which result was resolved by the end of the quarter. We're already seeing a recovery in their demand and expect a solid rebound in the second quarter. We also saw increased requirements for print know how transfer by a large global healthcare customer as they prepare to purchase printers and transition to high volume parts manufacturing likely to complete in 2027. This example illustrates the three phase growth model that we discussed on our Q4 call, namely process development, low to intermediate volume part production and ultimately Full system Sales as highlighted on slide 8, momentum in dental is accelerating across the full spectrum of our solutions which we classify as straighten, repair, replace and protect. We saw strong year over year double digit growth in dental material sales driven by both an increase in demand for aligners as well as in prosthetic materials for tooth repair which we sell under our Vertex brand. Our Vertex dental materials have been a mainstay in Europe for many years and we were pleased to gain U.S. regulatory approval late last year following a protracted trademark negotiation. This doubled the size of the market for Vertex and is now beginning to be reflected in our dental revenue performance. Now turning to Slide 9. As you know, we've been very excited about our new product launch in the denture market. 2/4 into sale of these marvelous platforms, I can tell you that the reception by our dental lab customers and dentists alike has been terrific. As an example, yesterday we announced a major commercial milestone reflecting the enthusiasm of our denture technology is generating in this case, ROE Dental Laboratory, one of the nation's premier full service digital dental labs, became the first major US Dental lab to deploy an extensive fleet of our next dent 300 jetted denture printing systems across their multiple sites. Following our US launch in the fall of 2025, Roe has expanded their purchases, effectively tripling their manufacturing capacity for high precision multi material monolithic dentures. As BJ Kowalski, CEO of Roe Dental Lab said, the next Dent 300 has exceeded our expectations in production efficiency, dentist acceptance and patient satisfaction. Adding more systems at this early stage allows us to triple output while maintaining the highest standards of quality and consistency from a market standpoint. Following our U.S. regulatory approval last year, we recently received the equivalent EU Phase IIa approval for our denture printing solution two months ahead of schedule. With both U.S. and EU regulatory approvals now in place, we've significantly expanded our addressable market to more than 60 million edentulous patients, roughly one third of the global market. This represents a multi billion dollar opportunity as dental labs around the world transition from traditional labor intensive methods to scalable high margin digital workflows. We expect to announce regulatory approvals in additional countries as they are gained throughout the year. Looking ahead for our denture platform, we built a solid order backlog moving into our second quarter and are raising our internal production targets for the second half of the year. The next Dent 300 has been the most successful new product launch since my arrival at 3D systems five years ago with very few installation issues, rapid integration in lab workflows and acceptance by Dennis often upon initial exposure to the product. From a patient standpoint, these printed dentures look wonderful, fit perfectly and can be worn with confidence due to their toughness and wear resistance. A winning equation for the lab, the dentist and the patient. I fully expect our portfolio of dental solutions to be a major contributor to our revenue and profitability for many years to come. Moving to slide 10 before shifting our focus to aerospace and defense markets in detail, I want to first make clear the way in which 3D printing is used for these critical applications. What many investors do not appreciate is that our company is unique in offering two complementary approaches to the manufacture of high reliability metal components, both of which are seeing a rapid rise in demand. The first is direct metal printing, often called DMP for short of components, which uses high powered lasers to directly center metal powder under a tightly controlled environment to form full dense parts. In this process, it's essential that there is no binder or other contaminant in the system as these will degrade the performance of the parts. This is the way the very highest performing metal parts are manufactured, and it will remain so. Those that do not have this technology will simply not be able to participate in this high value portion of the market. The second path for making metal parts is through the use of high precision SLA printed patterns for investment casting of specialty metals. This approach gives customers the flexibility on part size, material and design at a ... Full story available on Benzinga.com
3D Sys Reports Q1 2026 Results: Full Earnings Call Transcript
