3D Printing Service ProvidersFinancial ReportsMoney & Funding

Voxeljet revenues grow by 12.1% in FY 2022

The company also reports high AM service demand in Q4 2022

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Binder jetting and HSS 3D printer manufacturer voxeljet generated €27.8 million in revenues for the fiscal year that ended on December 31, 2022 (FY 2022). This represents a 12.1% increase compared to €24,8 in the prior year period. The company also reported that Q4 revenues were stable (-1.1%) and that it has registered a strong uptick in demand of its production services.

Overall systems revenues were €15.8 million for FY 2022 compared to €15.7 million in the prior year period. The Company sold twelve new and three used and refurbished 3D printers during FY 2022 compared to ten new and four used and refurbished 3D printers in the prior year period. However overall revenue from the sale of 3D printers decreased in 2022 compared to the previous year, due to a less favorable product mix in spite of a slightly higher number of transactions, in other words, voxeljet sold more smaller-scale platforms in 2022 as opposed to larger scale platforms in the comparative period in 2021. Systems revenues also include all Systems-related revenues from consumables, spare parts, and maintenance. Those Systems-related revenues significantly increased, due to higher market demand in after-sales activities, in connection with an increased installed base. Systems revenues represented 56.9% of total revenue for the year ended December 31, 2022, compared to 63.4% for the last year’s same period.

Voxeljet revenues grow by 12.1% in FY 2022; the company also reports high and growing Service demand in fiscal year and Q4 The company also reported +10.6% growth in Services revenues for Q4 2022, to €2.7 million from € 2.4 million in the comparative period of 2021. This increase was mainly due to higher revenue contributions from the subsidiary voxeljet America Inc., partially offset by lower revenue contributions from the Chinese subsidiary voxeljet China Co. Ltd. (“voxeljet China”). Revenue contribution from the German service center slightly decreased.

Dr. Ingo Ederer, Chief Executive Officer of voxeljet, commented: “We are very happy with the results for the quarter. Both our operating business and our financing activities with the completion of the sale and lease transaction were very successful. In our Systems segment, we had a very strong order inflow and started with a new record-high order backlog into the new business year. Regarding our new VJET X 3D printers, we have now five units of this large, next generation 3D printer in operation at the Bavarian car maker and have realized revenue for all of them. In our on-demand printing segment Services, demand continues to be extremely good – both in Europe and the US. This high demand is driven by large production orders, which is very exciting.”

Overall Services revenues were €12.4 million for the year ended December 31, 2022, compared to €10 million for the same period last year. This was mainly due to higher overall revenue contributions from the German service center as well as the voxeljet America subsidiary. Overall revenue contributions from the Chinese service center also improved. Since the beginning of the fiscal year 2022, the company has seen a strong market demand in its Services segment from almost all geographical regions.

Due to operational expenses along with various debt and loan repayments, the net loss for the year ended December 31, 2022, was €11.4 million, or €1.53 per share, as compared to a net loss of €10.6 million, or €1.68 per share in the prior year period.

Revenue guidance for the full year ending December 31, 2023, is expected to be in the range of €27.5 million and €32.5 million. Gross margin is expected to be above 31.5% and adjusted EBITDA for the fourth quarter of 2023 is expected to be slightly negative to neutral. The total backlog of 3D printer orders at December 31, 2022, was €10 million, which represents eleven 3D printers. This compares to a backlog of €3.9 as of December 31, 2021, representing seven 3D printers. Production and delivery of the printers is generally characterized by lead times ranging from three to nine months.

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