Home Industry Zortrax reports sharp decline in revenue in first quarter of 2023

Zortrax reports sharp decline in revenue in first quarter of 2023

Polish 3D printer manufacturer Zortrax has published its financial results for the first quarter of this year. As in previous reports, a decline in sales was apparent. In the first quarter of 2023, Zortrax generated revenue of PLN 4.6 million (approximately €1 million) compared to PLN 17.6 million (€3.9 million) in the same period last year, a drop of over -74%.

The slump in revenue is also due to the fact that in January 2022, Zortrax booked the revenue from the sale of 3D printers under the “Laboratoria Przyszłości” program, which accounted for 44% of the company’s total revenue that year.

The company also recorded a net loss of PLN -3.7 million (EUR 0.82 million), and adjusted EBITDA amounted to PLN -1.7 million (EUR 0.38 million), with an EBITDA margin of -31.3%. Gross profit from sales for the first quarter of 2023 amounted to PLN 2 million (EUR 0.44 million), compared to PLN 6.4 million (EUR 1.42 million) in the corresponding period of the previous year, while the gross margin for products, goods and services was 43.5% and was over +7% higher compared to the first quarter of 2022. The level of fixed costs was about -7.5% lower in the first quarter of this year, although the company said that this effect would be even more significant without the ongoing global price increase.

Further details on the business figures can be found directly in Zortrax’s financial report.

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