Trevor Sahr's questions to 3D Systems Corp (DDD) leadership • Q2 2025
Question
Trevor Sahr from William Blair asked for an outlook on key industrial markets like aerospace & defense and AI infrastructure, and for clarification on the company's plan to reduce R&D spending to more sustainable levels.
Answer
President and CEO Jeffrey Graves identified aerospace & defense as a sticky, growing market now exceeding $30 million annually, and highlighted AI infrastructure as a key opportunity, particularly in thermal management. He confirmed that after a multi-year period of elevated investment (~20% of sales) to refresh the product portfolio, R&D spending will now normalize to the mid-teens. He also cited the curtailment of the Systemic Bio project as an example of disciplined R&D investment based on ROI.