3D Printing Financials: Australia’s AML3D and Titomic Reflect on 2024 Results

The world of 3D printing is no longer niche. Companies across the globe are pushing boundaries and exploring clever manufacturing techniques, and Australia has two thriving players: AML3D (ASX: AL3) and Titomic (ASX: TTT). Both of these publicly traded companies had busy years in 2024, with important financial changes that show their roles in the growing 3D printing landscape. Their financial results and strategies from the past year reveal how these companies are carving out their roles in the 3D printing market.

Revenue growth was a strong point for both companies, but they took different paths to achieve it. AML3D saw a tremendous jump in revenue, reaching AUD 7.3 million ($4.9 million), which marked a 1,055% increase from the previous year’s revenue of AUD 600,000 ($400,212). This growth was largely driven by the U.S. market, which accounted for 95% of its revenue. AML3D’s strategy of focusing on U.S. defense and aerospace markets paid off.

AML3D’s success in the U.S. market is mainly due to its ARCEMY metal 3D printing systems. Its biggest deals for the 2024 fiscal year came from supplying large-scale metal 3D printers for military use. One standout contract targeted the U.S. Navy‘s submarine program, where AML3D’s printers helped solve supply chain challenges by making critical components that are no longer available from original manufacturers.

AML3D Arcemy printer. Image courtesy of AML3D

Meanwhile, Titomic reported total revenues of AUD 7.7 million ($5.1 million), a 71% increase compared to 2023. While not as impressive as AML3D’s surge, it remains a significant milestone in the highly competitive 3D printing industry. Titomic’s growth was fueled by its expansion into global markets, securing deals with key players in the aerospace and defense industries, such as Boeing.

Titomic’s patented cold spray technology set it apart by promoting rapid production and repair of complex metal components. The company secured high-value contracts for its high-pressure cold spray systems, including an AUD 2.4 million ($1.6 million) deal with Sabanci University in Turkey and an AUD 1.2 million ($800,424) contract with Triton Systems in the U.S. It also increased its presence in Europe, finishing orders for Airbus, the Royal Netherlands Army, and the French Navy.

Titomic D523 cold spray machine at use. Image courtesy of Titomic.

Nevertheless, both companies faced financial losses, but the scale and management of those losses tell different stories. AML3D, despite its impressive revenue growth, posted a net loss of AUD 4.2 million ($2.8 million), an improvement from its AUD 5.4 million ($3.6 million) loss in the previous year. Although still losing money, AML3D has cut its losses and improved its gross profit margin from 52% to 63%, showing the company is heading in the right direction.

Titomic, on the other hand, reported a larger net loss of AUD 11.9 million ($7.9 million), down from AUD 15.7 million ($10.5 million) in 2023. While Titomic’s losses are still large, its focus on cutting costs and improving efficiency has helped reduce expenses and created a path to profitability in the long term.

Titomic’s additive manufacturing technology. Image courtesy of Titomic.

The technological advancements of both companies played a critical role in their performance throughout the year. AML3D says it continued to build on its proprietary Wire-Arc Additive Manufacturing (WAM) technology, which powers its ARCEMY systems. The company is currently developing its next-generation ARCEMY systems, backed by an AUD 2.2 million ($1.5 million) investment, designed to improve production speed and energy efficiency. These upgrades are expected to make the systems even more appealing for sectors like aerospace.

During this time, Titomic doubled down on its cold spray technology, which allows it to produce metal parts without melting the material. Like AML3D’s technology, this capability has proven to be a game-changer in sectors like aerospace and defense, where the ability to repair metal components without heat is a powerful advantage.

The large-scale ARCEMY WAAM 3D printer from AML3D. Image courtesy of AML3D

Looking ahead, both companies have set ambitious goals for the full year 2025, which began on August 1, 2024. AML3D plans to make its U.S. manufacturing hub fully operational, which will reduce production times and allow the company to compete better for defense contracts. With a growing order book and established relationships, AML3D is ready for another year of strong revenue.

For Titomic, the future lies in its joint venture with Repkon in Turkey, which wants to revolutionize barrel manufacturing using cold spray technology. This venture, coupled with major contracts, positions Titomic to expand its presence in the aerospace and defense supply chains. It is also preparing to open a new manufacturing facility in the Netherlands in early 2025, allowing it to better serve its European clients.