As the latest 3D Printer manufacturer to go public (February 2013) and in line with its contemporaries, ExOne, this week announced its financial results for the first quarter of 2013. The report from the company highlighted strong growth in revenue but an increased year-on-year net loss.
The company’s revenue for Q1 2013 was $7.9 million compared with $2.7 million for the same period last year. However, net loss for the same quarter was reported at $1.9 million, compared with $1.5 million in 2012. Higher operating expenses, were cited as the primary reason for this despite robust sales together with an increased investment in R&D around materials development, an area cited as critical to ExOne by President and COO, Dave Burns in his Executive Interview with 3DPI.
Backing this up, in this financial report, ExOne’s Chairman and CEO, Kent Rockwell commented: “We continue to be very encouraged with the opportunities that present themselves for our 3D printing capability. As a global company we are subject to the vagaries of the economies in which we operate. The weakness in Europe has slowed the purchase decisions of our customers in that region while customer demand in Japan is clearly strengthening with the economy. And in North America, we also received our first order for an M-Flex machine in the quarter. We are steadily advancing our growth strategy. This includes the expansion of our manufacturing capacity in Germany, upgrading our PSCs and working to establish a more robust PSC network. Importantly, we are also making solid progress with our materials development processes.”
The outlook for 2013 is good and ExOne projects 2013 revenue of between $48 –52 million, with around 60% of this coming through in Q3 and Q4.
