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3D Systems (DDD) has opened FY 2025 with mixed results, as the latest third quarter showed revenue of US$91.2 million and a basic EPS loss of US$0.14, alongside a net income loss of US$18.1 million. The company has seen quarterly revenue move from US$113.3 million in Q2 2024 to US$112.9 million in Q3 2024, then to US$111.0 million in Q4 2024, before landing at US$94.5 million in Q1 2025, US$94.8 million in Q2 2025 and US$91.2 million in Q3 2025. EPS has swung between a loss of US$1.35 in Q3 2024 and a gain of US$0.79 in Q2 2025. With that backdrop, the latest print points to a business still working through choppy margins, which keeps the quality and consistency of profitability firmly in focus for investors.

With the headline numbers on the table, the next step is to set these results against the stories investors commonly tell about 3D Systems and see which narratives hold up and which start to look outdated.

See what the community is saying about 3D Systems

TTM earnings helped by US$125.5m one off gain

• On a trailing twelve month basis, 3D Systems shows net income of US$16.0 million and basic EPS of US$0.12. This is a clear contrast to the quarterly losses seen in Q1 2025 (US$37.0 million loss) and Q3 2025 (US$18.1 million loss), and is explicitly flagged as being materially influenced by a single US$125.5 million one off gain.
• What stands out for the bearish narrative is that, despite this one off gain helping produce trailing profitability and a 23x P/E, the last six reported quarters still include several loss making periods, and the five year earnings growth rate is reported at a 40.2% decline per year. This lines up with bears’ concern that recent profits may not yet show a steady earnings base.
  • Bears point to recurring quarterly losses like Q4 2024 (US$33.4 million loss) and Q1 2025 (US$37.0 million loss) as evidence that the underlying earnings pattern has not yet settled into consistent profitability.
  • The heavy reliance on a US$125.5 million one off item in the trailing numbers supports the cautious view that headline EPS of US$0.12 could look very different without non recurring boosts.

Revenue sits near US$392m TTM while quarterly trend softens

• Trailing twelve month revenue sits at US$391.7 million, while individual quarters have moved from US$113.3 million in Q2 2024 to US$91.2 million in Q3 2025. Investors are comparing this softer recent run rate with the longer period totals when thinking about how repeatable the current sales base is.
• Consensus narrative sees healthcare and dental growth, plus more digital manufacturing work, as key drivers of higher margin recurring revenue. This view is tested by the fact that recent quarterly revenue has been clustered in the low US$90 million range even as the trailing number stays just under US$400 million.
  • Supporters of the consensus view point to the full year like revenue level of US$391.7 million as evidence the business still serves a meaningful demand base despite softer individual quarters.
  • Critics focus on the move from US$113.3 million in Q2 2024 to US$91.2 million in Q3 2025 and argue that, if this pattern continued, it could cap how much those higher margin areas contribute to overall growth.

23x P/E sits below industry while shares trade at US$2.51

• With a trailing P/E of 23x based on the recent profitable twelve month period and a current share price of US$2.51, 3D Systems is trading on a multiple that is below both the US Machinery industry average of 27x and the peer average of 27.3x. Investors are comparing that discount with an analyst consensus price target of US$3.63.
• The bullish narrative argues that future margin expansion and new healthcare and bioprinting opportunities could make that discount look appealing, yet the current numbers still show mixed quarterly earnings, including a US$18.1 million loss in Q3 2025 alongside the one off assisted trailing profits. This means bulls are leaning on future execution rather than a long streak of clean historic results.
  • Support for the bulls comes from the fact that the stock price of US$2.51 sits below the US$3.63 consensus target, which implies upside if the company can convert its pipeline into steadier earnings.
  • At the same time, the reliance on a US$125.5 million non recurring gain to reach the earnings level that underpins the 23x P/E creates a tension with the bullish case that expects profitability to be driven more by core operations over time.

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for 3D Systems on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

With both risks and potential rewards on the table, do these results leave you cautious or curious about what comes next for 3D Systems? Take a closer look at the underlying data, move quickly while the latest numbers are still fresh, and weigh up the 2 key rewards and 2 important warning signs for yourself.

See What Else Is Out There

3D Systems is still wrestling with uneven quarterly earnings, a heavy reliance on a US$125.5 million one off gain, and a five year earnings decline.

If that patchy record makes you want steadier prospects, shift your focus to our 65 resilient stocks with low risk scores to quickly scan companies with financial profiles that aim for fewer surprises.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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