3D Printing Laser Maker NUBURU Faces NYSE American Compliance Challenge 

NUBURU (NYSE American: BURU), known for its innovative high-power and high-brightness industrial blue laser technology, has received a non-compliance notice from the NYSE American, formerly the American Stock Exchange (AMEX). According to the notice, NUBURU’s stock prices have dipped below the exchange’s minimum requirements over an extended period. Now NUBURU will need to demonstrate a sustained improvement in its stock price by June 28, 2024, to keep its stock listed on the exchange.

While this development is considered serious, it does not immediately affect NUBURU’s business operations or reporting obligations to the U.S. Securities and Exchange Commission (SEC), such as annual or quarterly reports. However, the company needs to act promptly and strategically to address the stock price issue. The company stock has been sinking since April 2023. Back then, the stock reached an all-time low of 95 cents per share. However, this decline continued, ending in a drop of just 14 cents per share by December 18, 2023.

In line with this, NUBURU is exploring several measures, including the possibility of a reverse stock split. If undertaken, this move would aim to consolidate the number of existing shares into fewer, potentially more valuable shares and lift the stock price to meet NYSE American’s requirements. More specifically, the company needs to make sure its stock price remains at or above $1 per share on average over a consecutive 30-day trading period, the minimum stock price approved by the NYSE American for continued listing.

NUBURU’s development of blue laser 3D printing technology. Image courtesy of NUBURU.

Founded in 2015, NUBURU has become a significant player in the industrial laser market. Its blue lasers, with high brightness and power, have set new standards in welding and additive manufacturing (AM), especially for metals like copper, gold, and aluminum. According to the company, its lasers ensure faster, higher-quality outputs, outperforming traditional laser technologies.

Founded in 2015, NUBURU has become a significant player in the industrial laser market. Its blue lasers, with high brightness and power, have set new standards in welding and additive manufacturing (AM), especially for metals like copper, gold, and aluminum. According to the company, its lasers ensure faster, higher-quality outputs, outperforming traditional laser technologies. NUBURU’s technology is a component of several 3D printing hardware.

For example, the brand partnered with Essentium to develop a blue laser-based metal 3D printer designed to produce industrial-grade metal parts with high resolutions and throughput, ideal for automotive, aerospace, and defense industries. Then, in 2023, NUBURU made a deal with GE Additive to improve metal 3D printing using its blue laser technology, particularly in speed, accuracy, and the ability to print challenging metals like copper more efficiently.

Nuburu’s development of blue laser 3D printing technology for GE Additive. Image courtesy of Nuburu.

According to its quarterly reports in 2023, NUBURU had mixed financial results. The company expected a significant revenue increase, hoping to exceed $3 million, marking a growth of over 100% from the previous year. However, it registered substantial net losses each quarter: approximately $4.77 million in the first quarter, then increasing to about $6.11 million in the second quarter, and a loss of around $5.09 million in the third quarter. These financial challenges, especially the net losses, could have contributed to the decline in the company’s stock price. Investors often consider both profitability and growth opportunities when considering a stock, and NUBURU’s financial situation could have raised concerns about its capability to manage its costs and achieve profitability.

If anything, the company’s situation is not unusual. Unfortunately, emerging technology sectors, including the 3D printing industry, have seen similar compliance challenges. In fact, just days ago, Velo3D (NYSE: VLD) faced a similar situation with the NYSE. Like NUBURU, Velo3D received a notice stating that its stock prices had fallen below the NYSE’s minimum $1 requirement for a 30-day period. For Velo3D, this development came in the middle of some important changes in the company’s leadership, including founder Benny Buller stepping down. Like NUBURU, Velo3D had to create a plan to boost its stock prices.

The notification from NYSE American is a reminder for NUBURU to comply with stock exchange requirements. Since delisting is one of the potential outcomes of non-compliance and could heavily impact the company’s investor relations, the next few months will be crucial for NUBURU as it works towards recovering its stock. If anything, this situation truly shows how unpredictable and challenging the stock market can be, especially for companies working in more disruptive industries like 3D printing and blue laser technology.