Optomec Reports 100% Year-Over-Year Revenue Growth Thanks to Innovative 3D Printing Technology
While the majority of the larger 3D printer manufacturers such as 3D Systems (which reports earnings tomorrow) and Stratasys have seen their growth rates stagnate over the last year, it’s not all bad news within the industry. In fact there are a handful of smaller companies that are growing at rates which may even surprise their own management teams.
Based out of Albuquerque, New Mexico, Optomec has been one of these companies that has excelled at all levels over the past twelve months. Known for their Aerosol Jet 3D printing system, which they were awarded a patent for early last year, the company has continued to push this technology forward, with future applications which could drastically change the way electronics are manufactured. The technology behind their system enables the printing of conductive elements on already manufactured substrates, allowing sensors, wear resistant coatings, and more to be fabricated rapidly on a provided object.
Today the company announced record first-half revenue for the year which equates to 100% year-over-year gains, not to mention that they are now profitable from both an EBITDA and Net Income basis. Additionally they expect significant revenue growth over the remaining part of 2015 as they currently have a major backlog of orders.
“We are well on track to double sales this year, as well as improve overall profitability. We believe this strong performance validates our focus on commercial production applications, as well as our open systems approach that eases adoption of our solutions for industry,” said Dave Ramahi, Optomec CEO, who added: “We are also seeing some interesting opportunities to expand our solution portfolio, especially as it relates to sensor and antenna offerings for the Internet of Things.”
The majority of this growth can be attributed to Optomec’s additive manufacturing systems for high-volume production applications. Earlier this year the company sold numerous Aerosol Jet systems to an Asian manufacturer, which will use them for the production of next-generation mobile devices, while other orders have come from companies looking to print conformal sensors for ‘Internet of Things’ devices, as well as to print 3D conformal electronics on new wearable devices.
The company reports that during the second quarter of this year approximately 50% of sales came within their metal 3D printing unit, while the other 50% came from their 3D functional electronics offerings. While 40% of their sales came from within the United States, Optomec has shown growth within international markets as well, expanding their distribution channels in Mexico as well as in Europe.
While there is a lot of news as of late about the declining growth rates this year within the industry, Optomec certainly has bucked that trend and will likely continue down this rapid growth path for quite a while. Let us know your thoughts on the company’s stellar growth rate, and the future of their patented Aerosol Jet systems. Discuss in the Optomec Earnings forum thread on 3DPB.com.
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