Provider of additive manufacturing solutions 3D Systems has opened a search for its next president and chief executive, with Dr. Jeffrey Graves set to leave both the executive role and the board once a replacement is in place. The company said on August 4 that Graves will remain in post until a successor is appointed, expected later this year , and will then serve as a consultant for six months to support the handover. The board has engaged an executive search firm to lead the process and says it remains focused on advancing the company’s strategic priorities.
“I am proud of the progress the Company has made over the last six years and grateful to have had the opportunity to work alongside the talented employees of 3D Systems,” said Dr. Graves. “It has been a privilege to serve our customers and shareholders, and I am confident that the Company is well positioned to build on this foundation and capitalize on the exciting opportunities in the industry ahead. I remain fully committed to leading the Company during this time and supporting a seamless transition.”
The announcement was timed to the release of second quarter 2026 results, published the previous day, in which Graves made no reference to his impending departure. No interim chief executive has been named, and none is planned: the structure keeps Graves accountable for the business through the search rather than handing it to a caretaker.
Six years of narrowing the company
Graves joined in May 2020 and rebuilt the company around two segments, Healthcare and Industrial, cut costs to improve operating efficiency, and refocused the portfolio on four higher-value markets: Aerospace & Defense, Data Center Infrastructure, Med Tech and Dental.
The clearest measurable result is profitability rather than growth. Adjusted EBITDA in Q2 2026 improved $4.6 million year-over-year to a loss of $0.8 million, and the first half delivered positive Adjusted EBITDA of $1.3 million against a $30.8 million loss a year earlier. Non-GAAP operating expenses fell 11% to $39.5 million, reflecting more than $60 million in annualised savings from a six-quarter restructuring programme.
On the top line, Q2 revenue of $94.6 million was down 0.3% year-over-year but up 1.4% excluding divestitures, with double-digit growth in both metal and polymer printer systems, and printer sales up more than 45%, led by the DMP 350 metal system and the SLA 825 polymer platform.
Getting there involved selling assets. 3D Systems divested Geomagic for $119.4 million in cash in April 2025, followed by 3DXpert and Oqton, which the company divested in October 2025 for $3.3 million. This led to a total revenue increase by 1.4%. Full-year 2025 revenue closed at $386.9 million, down 12%, with a $96.1 million operating loss.
Graves’ own framing points to timing: “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.”
What the successor inherits
A leaner cost base, a refreshed hardware line beginning to convert, and a defence business with committed funding. On August 10, 3D Systems disclosed a further $9 million U.S. Air Force award extending the Large-Format Metal 3D Printer Advanced Technology Demonstrator programme (GEN-II DMP-1000) by two years. Total programme funding now stands at $27.4 million, with work continuing at San Diego and Rock Hill. This phase aims to complete the technology demonstration.
In addition, 3D Systems has projected Aerospace & Defense as its fastest-growing industrial line, with over 20% growth in 2026 and more than $35 million from production systems and custom metal parts.
The transition design says as much as the departure
3D Systems has structured this handover to avoid a vacuum rather than signal a break. No interim, no immediate effective date, no strategic review alongside the search, Graves stays until a successor is named, then consults for six months. With restructuring savings still flowing through the P&L, a new printer portfolio only now converting, and an Air Force programme running to 2027, the board is protecting execution on existing commitments while it hires someone to set what comes next.
Nano Dimension shows the alternative. Its $890 million term sheet to merge with AI diagnostics firm Infinite Epigenetics, a deal that would end its decade in additive manufacturing, drew objections from activist investor Murchinson, which requisitioned an EGM to replace most of the board. A July 20 settlement cancelled the vote instead: CEO David Stehlin, who had championed the deal, resigned with three directors, and Murchinson’s nominees installed Moshe Rozenbaum as interim CEO the next day. Whether the merger survives, is renegotiated, or loses to a rival offer is now unresolved.
Velo3D shows the balance sheet picking the CEO. After an NYSE noncompliance notice and a 47.1% revenue drop to $41.0 million in FY 2024, the company ceded 95% of its shares to Arrayed Additive, whose chief executive Arun Jeldi replaced Brad Kreger. Jeldi then moved the business off printer sales to Rapid Production Services and reported orders doubling in his first 90 days. A workable plan but one written after the ownership change, not before it.
3D Systems is doing the reverse: settling strategy first, then hiring against it while it still controls the choice. The risk is inverted, not removed, a lame-duck CEO holds the wheel for a quarter or more. What that buys is a successor inheriting a plan rather than a fight over one.
3D Printing Industry is inviting speakers for its 2026 Additive Manufacturing Applications (AMA) series, covering Energy, Healthcare, Automotive and Mobility, Aerospace, Space and Defense, and Software. Each online event focuses on real production deployments, qualification, and supply chain integration. Practitioners interested in contributing can complete the call for speakers form here.
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Featured image shows Jeffrey Graves. Photo via 3D Systems.
