Polish 3D printer provider Sygnis has reported falling sales and losses for the third quarter of 2023. With revenue of 2.3 million złoty, the company remained around 60% below the previous year’s figure. According to Sygnis, revenue also fell cumulatively due to a lack of major orders.
The reason given is the discontinuation of government funding programs for the use of 3D printers in schools. These had still brought Sygnis high sales in the previous year. The company is now trying to acquire new EU funding through research projects, the management explained.
At the same time, Sygnis is working on reducing its own costs. As a result, the quarterly loss was limited to 1.9 million złoty, compared to 2.3 million in the previous quarter. In the medium term, the company intends to boost production and strengthen marketing through a capital increase in order to return to profitable growth.
Industry experts believe that companies like Sygnis are facing particular challenges in the current difficult market environment. It is now important to secure financing in order to be able to take off once the economic downturn is over.