The latest financial returns for Robo3D (ASX: RBO) show double digit growth for the 3D printer developer and manufacturer.
Robo3D, makers of the R1+, R2 and C2 3D Printers, has reported a 67% increase in its sales for the first 9 months period ending in March 2018. Total sales amounting to AUD 5.5M (equivalent to USD 4.1M). In the end of March quarter, sales were AUD 1.2M..
An additional AUD 200K of customer orders were received in February 2018 were not delivered to European customers until after 30 March 2018 due to significant delays in being released from European customs. Adjusting for this delay, Robo3D experienced a quarterly revenue growth of 20% compared to the March 2017 quarter.
|Sales – M AUD – unaudited||Fiscal Year ended 30/6/2017||Fiscal Year ended 30/6/2018|
|Q ended 30/9||1||1.5|
|Q ended 31/12||0.8||2.8|
|Q ended 31/3||1.2||1.2|
|Q ended 30/6||0.3||n/a|
Robo3D continued success in 3D printing for education
Robo3D strategic focus is targeting the significant Education sector. With other 100,000 K-12 institutions serving over 50 M students, the education sector offers a compelling opportunity. Robo3D has recently partnered with the following education focus resellers:
- The Douglas Stewart Company, a leading distributor and business service provider in the North America with a specific focus on education markets,
- Fisher Scientific Education, a division of Thermo Fischer Scientific, a large NYSE listed biotechnology product development company, with a particular focus to educational laboratories and classrooms,
- Troxell, the largest privately-held education technology distributor in the USA.
Robo3D optimistic for the remainder of 2018
Ryan Legudi, Managing Director at Robo3D is very optimistic for the remainder of 2018. He commented on the results with: “the market opportunity for Robo has never been better. We are operating in a rapidly emerging industry, expected to grow 3-fold over the next four years to reach an estimated 1.9 million units, compared to around an estimated 500,000 units in 2017.”
In the March 2018 quarter Robo3D further extended its reseller network to 40, a doubling in the last 6 months and 8 times the number at end March 2017. The company expects that the new resellers recently signed up will support the growth of the company going forward.
The company ended the March 2018 quarter with AUD 599K cash at bank, with an additional AUD 350K to be received. The management is confident in obtaining further non dilutive financing in the next months.
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Featured image shows GT Moto using Robo3D to cut product development time for custom motorcycles. Photo via Robo3D.