Sigma Additive Solutions, a 3D printing quality assurance software company, has released its financial results for the second quarter of 2023. The report provides a detailed look at the company’s current financial status.
The Santa Fe-based company reported revenue of $97,043 for the second quarter of 2023, compared to revenue of $236,660 in the second quarter of 2022. According to CEO Jacob Brunsberg, the decline was due to decreased sales of PrintRite3D software and a decrease in subscription-based revenue.
Despite the decline in revenue, Sigma reported gross profit of $60,552 for the same period, up from $43,585 a year earlier. This indicates that the company was able to adjust its cost base and operate more efficiently.
The company’s operating expenses also decreased significantly. The report indicated a nearly 40% reduction in operating costs compared to the previous year.
Brunsberg further emphasized that Sigma Additive Solutions is currently evaluating various strategic options. These could include possible mergers or other forms of business combinations. However, no concrete decisions or agreements have been made at the current time.