Q1 2016 Report for Tinkerine Shows Impressive Revenue But Net Loss of $311,223

Share this Article

tinkerine-logoTinkerine Studios (TSXV: TTD, FSE: WKN WB6B and OTC: TKSTF) has just released their financial results for the first quarter 2016, and while there are impressive numbers in terms of revenue and lowering of operating costs, we will undoubtedly be interested to see how they fare during the rest of the year, especially as sales for the educational sector—their area of expertise regarding 3D printing manufacturing, support, and sales—begin to pick up in later quarters. A significant net loss was reported here for Q1, but in comparison to last year, it’s an improvement. (Note: All sales figures are in Canadian dollars.)

  • For Q1 2016, revenues of $171,689 are being reported. Looking back at the same period for 2015, this shows a 58% increase. As sales in the educational sector begin to pick up, this may well increase throughout the year.
  • For this quarter, a gross margin of $64,572 is reported, offering a 177% increase from last year.
  • Operating expenses have been reduced significantly, down 32% from last year as they’ve tightened the reins.
  • Net loss, at $311,223, was down significantly as well, considering last year’s first quarter net loss was reported at $475,027.

UntitledOther news for the Canadian company which may have had an effect on numbers was the appointment of an interim CFO, Justin Sy. Tinkerine also reported the closing of private placement financing subscribed for by insiders and founders of the company to the tune of $315,000.

They also increased inventory, with a total of $608,351 being held in raw materials and finished products. This is expected to be necessary as their typically cyclical sales begin to grow in the second and third quarters of the year.

While last year was considered to have been transitional, end of year revenues showed a 270% increase from the previous year, with a 293% increase in gross profit, while net losses were at $1,069,447 in comparison to a 2014 net loss of $2,700,252.

The success of the Ditto Pro 3D printer so far has helped the company to shine very impressively, with the machine being well-reviewed and winning accolades. The successful institution of Tinkerine U allowed them to integrate into the educational sector, offering the much needed accessibility and affordability for 3D printing in the classroom. They did also experience some record growth, as we reported last year, and were able to make impressive headway, along with the inking of distribution deals and partnerships in the US.

tink-1As the year heats up, we’ll hope to see this smaller yet multi-faced company, quite successful so far, implementing some new programs and injecting new energy into the company as 2016 plays out. So far this year we’ve seen the release of Tinkerine Suite Version 2.0, adding even more powerful features to the software’s minimal interface.

Definitely aligned with the educational sector, Tinkerine Studios is famous for their commitment to STEM-based content and tools not only for classrooms in Canada, but comprehensively in North America, and around the world. Their development team is dedicated to offering curricula, apps, and support—along with providing 3D printing enthusiasts around the world the pleasure of creating on their user-friendly line of 3D printers with the Ditto Pro and the DIY Ditto and Litto 3D printer kits. Other products and accessories are available as well. For more information on their products and services, click here. Discuss Tinkerine’s Financials over in the Tinkerine Q1 Report forum at 3DPB.com.

t_suite_hero

Share this Article


Recent News

UNICAEN: New Bioprinted Tumor Models Help Researchers in France Study Its Biology

The End of the Road for Pot Dyeing in 3D Printing?



Categories

3D Design

3D Printed Art

3D Printed Food

3D Printed Guns


You May Also Like

Daimler Buses Relies on DyeMansion for Color & Texture Quality in 3D Printed Spare Parts

While it took decades for the rest of the world to catch up, a handful of aerospace organizations, automotive industry leaders, and other innovators have continued to enjoy the inside...

DyeMansion Completes Beta Testing of VaporFuse Surfacing Technology for 3D Printed Parts

3D printing offers a world of infinite potential for innovation, as well as combinations of materials and finishing processes. DyeMansion is just adding to all that goodness now with VaporFuse...

Why Automated Post Processing Makes Manufacturing With 3D Printers Possible

In Material Extrusion (FDM), we can now use inexpensive machines to make dimensionally accurate & tough parts in various materials at low cost. These parts can fulfill many industrial and...

3D Printing News Briefs: May 26, 2019

This year’s RAPID + TCT ended late last week at the Cobo Center in Detroit, so we’re again starting off today’s 3D Printing News Briefs with more news from the...


Shop

View our broad assortment of in house and third party products.


Subscribe To Our Newsletter

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our 3DPrint.com.

You have Successfully Subscribed!