The 3D printing company, last valued at $2 billion, is laying groundwork for what could be a significant tech IPOFormlabs, the Somerville, Massachusetts-based 3D printing company, is in discussions with potential advisers as it prepares for an initial public offering. Formlabs reported annual revenue exceeding $250 million for 2025 and a free cash flow margin above 10%. Professional 3D printing has moved well beyond prototyping into end-use production across dental, healthcare, jewelry, and engineering applications. Desktop Metal went public via SPAC in 2021 and later merged with Stratasys after struggling as a standalone public company. With $250 million-plus in revenue and positive cash flow, a revenue multiple of roughly 8x would not be outrageous for a hardware-plus-software company with recurring revenue characteristics.