voxeljet AG (NASDAQ: VJET), a provider of high-speed, large-format 3D printers and on-demand parts services to industrial and commercial customers, announced consolidated financial results for the third quarter ended September 30, 2022.
Highlights – Third Quarter 2022 compared to the Third Quarter 2021
- Total revenues increased 16.1% to kEUR 5,735 from kEUR 4,938
- Gross profit margin decreased to 28.7% from 39.3%
- Systems revenues increased 8.3% to kEUR 2,704 from kEUR 2,497
- Services revenues increased 24.2% to kEUR 3,031 from kEUR 2,441
- Reaffirm full year 2022 revenue guidance while revising certain other elements of our guidance
Dr. Ingo Ederer, Chief Executive Officer of voxeljet, commented: “We are very happy with our performance over the last months, as we continued to collect orders for 3D printers, made progress in key R&D projects and were extremely busy in our on-demand 3D printing segment. In August, we signed off on a sale and leaseback transaction of our headquarters in Germany, which closed on October 31, 2022. This cleans up our balance sheet as we use the proceeds of this transaction to repay most of our financial liabilities. With the demand for our products as high as ever, we are very excited about how we are positioned for the coming years.”
Three Months Ended September 30, 2022 Results
Revenues for the third quarter of 2022 increased by 16.1% to kEUR 5,735 compared to kEUR 4,938 for the third quarter of 2021.
Revenues from our Systems segment, which focuses on the development, production and sale of 3D printers, increased 8.3% to kEUR 2,704 for the third quarter of 2022 from kEUR 2,497 for last year’s third quarter. The Company sold one new and one used and refurbished 3D printer in the third quarter of 2022 compared to one used and refurbished 3D printer in last year’s third quarter. Revenue from the sale of 3D printers decreased due to the product mix. Systems revenues also include all Systems-related revenues from consumables, spare parts and maintenance. Those Systems-related revenues significantly increased in the third quarter year over year, reflecting the higher installed base of voxeljets 3D printers in the market. Systems revenues represented 47.1% of total revenues in the third quarter of 2022 compared to 50.6% in last year’s third quarter.
Revenues from their Services segment, which focuses on the printing of on-demand parts for customers, increased 24.2% to kEUR 3,031 for the third quarter of 2022 from kEUR 2,441 in the comparative period 2021. This was due to significantly higher revenue contributions from the German service center as well as the subsidiary voxeljet America Inc. (‘voxeljet America’), reflecting an increased market demand in Europe as well as North America. Revenue contributions from the subsidiary voxeljet China Co. Ltd. (‘voxeljet China’) were almost flat.
Find out more about voxeljet at voxeljet.de.
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