AML3D revenues up over 1,000% in 2024 financial results
September 3, 2024
AML3D Limited, headquartered in Edinburgh, Australia, has posted its 2024 results, with revenue reported to be up 1,055%. During its financial year, revenue was recorded at AUS $7.32 million, compared to AUS $0.60 million in the prior year. The company highlighted that AUS $4.44 million, more than half (61%) of AML3D’s FY24 revenues, were derived from Arcemy machine sales in the US.
A further 36%, or AUS $2.66 million, of revenue was generated from component manufacturing and alloy characterisation and testing contracts with the remaining 3% of revenue from recurring license and lease fees.
The company reported that EBITDA loss for FY24 of AUS $3.31 million is 31% lower than in the prior comparable period. The net loss after tax for FY24 of AUS $4.17 million, down 23% on the prior comparable period.
AML3D spent 2024 investing in the expansion of its software development team and capabilities. The company is also investing to establish a manufacturing hub in the US to maximise the growth opportunities in that market. Overhead expenses of AUS $8.09 million were AUS $2.81 million higher than in FY23, largely attributable to the investment in the ‘US scale-up’ strategy and software development team.
This scale-up strategy is focused on supplying the AML3D’s proprietary Arcemy metal Additive Manufacturing machines and contract manufacturing services to industrial manufacturers in and supporting the US defence, marine and aerospace industries. The scale-up strategy underpinned a more than ten-fold increase in AML3D’s revenues during the financial year, when compared to the prior year.
Some achievements highlighted by the company in its statement include:
- Establishing a US headquarters and manufacturing hub to reduce lead and delivery times and support access to US defence contracts
- An order for the largest, custom built Arcemy machine ever built for Austal USA’s Advanced manufacturing centre in Charlottesville, Virginia
- A contract manufacturing order to solve a US Navy supply chain challenge by developing and additively manufacturing a high demand, non-safety critical, replacement metal component no longer available from the OEM
- An extension of an alloy testing contract to demonstrate AML3D’s ability to metal 3D print nickel-aluminium-bronze alloys that meet the standards needed to support the US Navy’s Submarine Industrial Base
- A copper-nickel alloy testing contract for US Department of Defence applications and a subsequent expanded copper-nickel alloy testing programme for the US Navy’s submarine qualification programme
- A part manufacturing and testing contract to supply BAE Systems Maritime Australia with a prototype component in support of the Royal Australian Navy’s new Hunter class frigate programme
- Contracts to support Aerospace and Marine applications of advanced metal Additive for the Australian Government Defence Science and Technology Group
Through the US scale-up strategy AML3D is realising significant value from the company’s proven, proprietary, metal AM technology and delivered its most successful year on record in FY24. 95% of AML3D’s revenues in the year were derived from US sales. The company is expanding its sales of industrial-scale, advanced Wire Arc Additive Manufacturing machines, with a total of four machines commissioned in FY24.
“AML3D believes our technology advantage will transform metal manufacturing and help to rebuild sovereign manufacturing capabilities in the markets we serve,” the company stated. “AML3D’s Arcemy systems can be deployed at the point of need to deliver large-scale, custom-built components with significantly shorter lead times. Our technology has met some of the most rigorous civil and military accreditation standards, including the award, in FY24, of the AS9100D:2016 Aerospace Quality Systems Accreditation. The ability to manufacture high quality metal components faster than traditional casting and forging processes, with lower waste, reduced emissions and lower electricity consumption means AML3D can also be price competitive and address customers sustainability requirements.”
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