ExOne reports record second quarter revenues
August 9, 2019
The ExOne Company, North Huntington, Pennsylvania, USA, has reported record financial results for its second quarter 2019, as well as record-setting trailing twelve month (TTM) revenue.
Consolidated revenue for the second quarter 2019 was reported to be $15.3 million, up 41% compared to the same quarter in 2018 and representing a record level for a second quarter. The company’s gross profit for Q2 2019 was reported at $5.1 million, also said to be a record result for any second quarter in ExOne’s history, and representing a gross margin of 33.7%, compared to a margin of 14.6% in Q2 2018.
“We are pleased with the significant progress we are making – from a technological, commercial and financial standpoint. We reached a milestone for ExOne this quarter, reporting record-setting second quarter revenue and gross profit levels, in spite of recent unfavourable macroeconomic factors,” stated John Hartner, ExOne’s Chief Executive Officer.
The second quarter 2019 was said to have benefited from improved operating leverage on higher volume, as well as a reduction in fixed costs resulting from the 2018 global cost realignment programme. The company’s Additive Manufacturing machines product line achieved the best results in Q2 2019, reporting $9.3 million revenue, up 187% from $3.2 million in Q2 2018. The company’s additively manufactured products, materials and services offering performed slightly less well, reporting Q2 2019 results of $6 million, down 21% from Q2 2018.
The company also reported that it had achieved a record-setting revenue of $66.7 million in the trailing twelve months to the end of Q2 2019, a significant improvement on the 2017–2018 result of $58.8 million.
Regarding its new X1 25PRO metal AM machine, Hartner added, “As we previously announced, Kennametal and Sandvik have agreed to beta test our new X1 25PRO™, our larger format, fine powder, high-resolution production machine that we displayed at the RAPID + TCT trade show in Detroit in May. This new platform is capable of printing standard industry powders utilised in MIM (Metal Injection Moulding) and other PM (Powder Metallurgy) processes. We secured our first order for a production machine that we expect to ship in the second half of this year.”
