Voxeljet (NYSE:VJET) Reports First Quarter 2015 Financial Results

Share this Article

v1We are approaching the middle of May and that usually means one thing for investors of 3D printing stocks; first quarter earnings reports. After lackluster results from the two giants within the industry, 3D Systems and Stratasys, and a reporting delay by ExOne at the market’s close yesterday, it was finally time to see how German-based voxeljet AG (NYSE:VJET) had fared in the first quarter.

The company reported impressive top line growth with revenue coming in at 5.59 million EUR, up 104.1% over last year’s first quarter results. Gross margin, however, fell to 33.6% compared to 39.4% last year, as competition may have squeezed out potential profits. The company also reported a loss of 0.49 EUR per share for the quarter, versus a loss of 0.22 EUR per share just a year prior.

“I am pleased with our first quarter results which reflect the increased adoption of 3D printing in industrial and commercial applications. Demand for both our systems and on-demand printed parts remains robust,” explained Dr. Ingo Ederer, Chief Executive Officer of voxeljet. “We sold four printers in the quarter compared to two printers in last year’s same quarter and generated record revenues in both sand and plastic parts.”

The company breaks revenue down into two main segments, “Systems” and “Services”. Systems revenue, which includes the sale and maintenance of 3D printers, as well as spare parts and v3consumables, rose a staggering 114.7% quarter over quarter. Almost equally impressive is the rise in revenue from voxeljet’s Services segment, which includes on-demand printing of parts for customers. For this segment, revenue rose 94.3% from 1.42 million EUR for the first quarter of 2014 to 2.77 million EUR for the first quarter of 2015.

“We began printing parts at our service facility in Detroit in the first quarter of 2015 and our direct operating presence in that market is creating greater awareness of voxeljet’s capabilities and is driving customer interest across North America, explained Ederer. We are off to a good start for the year and we reaffirm our full year 2015 guidance of revenue between kEUR 23,000 and kEUR 24,000 for the group.”

With the uncertainty within the market as of late, it should please investors to see that guidance for the year remains on track, as the company expects no major surprises. Below you will find a few additional highlights of this quarter’s report:

  • Operating loss for quarter of 1.46 million EUR as compared to 603,000 EUR during Q1 of 2014.
  • Net loss for the quarter was 1.63 million EUR as compared to 711,000 EUR during Q1 of 2014.
  • R & D Expenses nearly doubled from 848,000 EUR to 1.56 million EUR quarter over quarter.
  • Gross profit margin for the Services segment decreased from 47.8% to 39.9% quarter over quarter.
  • Gross profit margin for the Systems segment decreased from 30.3% to 27.4% quarter over quarter.
  • The company saw a net rise in employees of 15, going from 26 employees on March 31, 2014, to 41 on March 31, 2015.

All in all, the report wasn’t anything too unexpected as the stock is currently trading up about 1% following its release yesterday. Are you an investor in voxeljet? What are your thoughts on these financial results? Discuss in the voxeljet Earnings forum thread on 3DPB.com.

v2

Share this Article


Recent News

Design Your Own 3D Model for Printing in CAD Software — All Online!

Portugal: Minho’s Love is One of the Largest 3D Printed Art Installations Ever



Categories

3D Design

3D Printed Art

3D Printed Food

3D Printed Guns


You May Also Like

Investigating 3D Printed Biomodels in Experimental Blood Flow Studies

There are many applications for 3D printing in the biomedical research community, such as lab-on-a-chip tools, surgical planning, and drug delivery. Yet another is 3D biomodels, which is the focus...

Portugal: Cork 3D Printing Composite Shows Promise for Enhancing Polyurethane Foams

In the paper “3D printed cork / polyurethane composite foams,” authors N. Gama, A. Ferreira, and A. Barros-Timmons delve further into the world of enhanced materials for better performance in...

Generative Design Methods Combine 3D Printing & Organic Evolution

“Go take your lessons from nature, that’s where our future lies.” – Leonardo da Vinci Virginia Commonwealth University student Mohammad Jawad takes a forward-looking approach to manufacturing, as 3D printing...

Portugal: Consortium Led By Adira Aims to do SLM 3D Printing With One Cubic Meter Build Volumes

Industrial manufacturers continue the push to integrate SLM processes into large scale projects, especially in 3D printing and additive manufacturing with metal; in fact, they are so serious about this...


Shop

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


Print Services

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!