Polish 3D printing company Zortrax recently published its financial results for the second quarter of 2023. With sales of only PLN 3.5 million, the company shows a significant decline compared to the previous year, when it had generated PLN 9.5 million in the same period.
Zortrax attributes the 70% drop in sales mainly to the failure of the Laboratories of the Future program. In the previous year, Zortrax had sold a high number of 3D printers to schools under this program, which accounted for about 36% of its annual order volume. This program was not continued this year, which had a negative impact on sales revenue.
Low sales levels have also affected the company’s financial liquidity. Zortrax reported that they had only a little over PLN 200,000 in bank accounts at the end of the first half of the year. These liquidity problems cause delays in production processes and extend the waiting time for equipment. As a consequence, resellers’ order volumes are decreasing.
Zortrax said it is exploring opportunities to supply 3D printers as part of educational programs in other European countries. This could represent a possible strategic realignment for the company to compensate for lost sales in Poland.
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