ExOne reports continued growth in third quarter 2016 and year-to-date
November 9, 2016
The ExOne Company (NASDAQ:XONE) North Huntingdon, Pennsylvania, USA, has reported financial results for the third quarter and nine months ended September 30, 2016, which showed continued growth for the global supplier of three-dimensional printing machines and 3D printed products, materials and services.
Consolidated revenue for the 2016 third quarter was reported up 47% compared with the prior-year period. Machine revenue grew by more than two and a half times, driven by recognition of large, indirect machine sales. Non-machine revenue, which was consistent with the prior year, was impacted by lower pricing on consumables, partially offsetting increased consumables volume due to the larger installed base.
For the first nine months of 2016, revenue was up 37% over the 2015 period, also driven by the sale of large, indirect machines. Machine revenue more than doubled and non-machine revenue grew 8%.
“We’re pleased to see continued growth in the third quarter and year-to-date periods, with sales of more of our larger, indirect machines. Underlying this momentum are customers who are indicating that our S-Max® platform is setting the standard for industrial applications, evidencing growing adoption of our binder jetting technology,” stated Jim McCarley, Chief Executive Officer.
“We have also made significant progress in 2016 with continued technological advances. The beta testing of our Exerial™ has not only resulted in enhancements to that machine but also improvements that we anticipate applying to our other indirect machine platforms to facilitate adoption. Furthermore, the strides we have made with finer powders for our direct machines are significantly broadening our addressable market for potential applications. Given customer feedback, we are confident that these investments will drive future results,” added McCarley.
The full report can be read here.
