With headquarters in the US, Europe, and Asia, this global manufacturer of 3D printers, materials and other products and services continues to move ahead. For the third quarter of this year, ExOne reports a rise of 47 percent. That is in comparison to Q3 2015, as now they report machine revenues expanding over two and a half times. According to the company, this is due to the recognition of ‘large, indirect machine sales.’
Revenues on the other side, excluding hardware, are still in line with what we saw last year showing impacts due to less profits flowing via consumable items. In all, however, this year so far shows that revenues have increased significantly, at 37% higher than the same timeframe for last year.
ExOne states that while their revenues related to ‘non-machines’ still grew by 8%, they saw revenues from machines actually doubling. They also make it clear that they don’t see this data as a trend, but rather a normal fluctuation.
“We’re pleased to see continued growth in the third quarter and year-to-date periods, with sales of more of our larger, indirect machines,” said Jim McCarley, Chief Executive Officer of ExOne. “Underlying this momentum are customers who are indicating that our S-Max platform is setting the standard for industrial applications, evidencing growing adoption of our binder jetting technology.
“We have also made significant progress in 2016 with continued technological advances. The beta testing of our Exerial has not only resulted in enhancements to that machine but also improvements that we anticipate applying to our other indirect machine platforms to facilitate adoption,” continued McCarley. “Furthermore, the strides we have made with finer powders for our direct machines are significantly broadening our addressable market for potential applications. Given customer feedback, we are confident that these investments will drive future results.”
Other highlights of the Q3 2016 report are as follows.
- Operating losses showed more positive numbers in comparison to this time last year, directly reflecting the higher gross profit, as well as taking into account that for last year, ExOne showed a $4.4 million non-cash goodwill impairment charge.
- Selling, general, and administrative expenses showed a large increase, jumping from 0.2 million to $5.2 million—with $0.5 million spent on management succession. Research and development expenses rose to $1.9 million, from $1.8 million the previous year. According to ExOne, this was due to ‘project-related material costs.’
- Adjusted earnings (pre-taxes, depreciation, and amortization) or EBITDA, showed an improvement for this year with only a $1.6 million loss as compared to this time period last year with a $4 million loss.
- In the area of cash and equivalents, ExOne reports that these figures were at $29.8 million, showing a reduction from last year’s third quarter at $31.9 million—and also contrasted with the total of $19.3 million at December 31, 2015.
Both a conference call and webcast were held live last week as ExOne management went over the third quarter results for 2016. They also discussed future corporate strategies, and their outlook. If you are interested in listening to a replay of the conference call, just dial (858) 384-5517, entering conference ID number 13645497; it will be available until November 17. You can also enjoy a replay of the webcast, soon to be available at ExOne. Discuss in the ExOne forum at 3DPB.com.
[Source / Images: ExOne]