The ExOne Company Reports 2020 First Quarter Results

  • Revenue of $13.4 million, up 40% over Q1 2019
  • Record backlog of $33.8 million
  • Cost reductions taken in anticipation of economic downturn from COVID-19

NORTH HUNTINGDON, Pa. — (BUSINESS WIRE) — May 7, 2020The ExOne Company (Nasdaq: XONE), the global leader in industrial sand and metal 3D printers using binder jetting technology, today reported financial results for the first quarter ended March 31, 2020.

Revenue for the 2020 first quarter was $13.4 million, up 40% over last year’s first quarter. Increases in both machine sales and recurring revenue contributed to the growth. The Company reported a net loss of $0.22 per share in the 2020 first quarter, improved from a loss of $0.28 per share in the 2019 first quarter.

“Our strong backlog coming into the year and our new product introductions positioned us well for growth in the first quarter,” said John Hartner, ExOne CEO. “Despite initial effects of COVID-19 on our business, our execution performance was solid. Globally, our facilities continued to operate in support of our customers in critical industries and essential businesses, subject to social distancing and other procedures to keep our employees safe.”

He continued, “However, conditions clearly changed in March. We previously anticipated that growth would continue during 2020, but the COVID-19 pandemic has impacted shipping, travel and installation schedules, as well as the timing of customer capital investments. The uncertainty of our outlook caused by this situation prompted us to reduce our cost structure as we manage through these historic times.”

First Quarter 2020 Revenue – Driven by Growth in Machine Sales and Recurring Revenue
(compared with the prior-year period unless stated otherwise)

Three Months Ended

(in millions)

March 31,

Revenue by Product Line

2020

2019

% Change

3D Printing Machines

$

6.3

47%

$

3.3

35%

90%

3D Printed and Other Products, Materials and Services

7.1

53%

 

6.3

65%

13%

Total Revenue

$

13.4

100%

$

9.6

100%

40%

Machine revenue nearly doubled to $6.3 million in the first quarter of 2020, up from $3.3 million in the prior-year period, benefiting from increased volumes and a favorable mix of machines sold. In the 2020 first quarter, 14 machines were sold, of which five were indirect (sand) and nine were direct (metal) printing machines. This compares with eight machines sold in the 2019 first quarter, consisting of two indirect and six direct printing machines.

Recurring revenue from 3D printed and other products, materials and services was $7.1 million in the first quarter of 2020, up 13% from $6.3 million in the prior-year period. The 2020 first quarter included an increase in sales of consumables to our growing global installed base of machines as well as an increase in revenue associated with research and development (R&D) contracts.

Given the long sales cycle and significance of a machine’s average selling price relative to total revenue, fluctuations in machine-sale revenue vary from quarter to quarter. ExOne does not believe that such quarter-to-quarter fluctuations are necessarily indicative of larger trends.

First Quarter Operations – Benefiting from Revenue Growth
(compared with the prior-year period unless stated otherwise)

($ in millions, except per-share amounts) Q1 2020 Q1 2019 Change

% Change

Gross profit

$

3.6

$

2.6

$

1.0

37%

Gross margin

27.1%

 

27.6%

 

Operating expenses (R&D, SG&A)

$

8.6

$

7.9

$

0.7

32%

Net loss

$

(3.6)

$

(4.5)

$

0.9

19%

Diluted EPS

$

(0.22)

$

(0.28)

$

0.06

21%


1 | 2 | 3 | 4  Next Page »



Review Article Be the first to review this article


Featured Video
Jobs
Geospatial Mapping Training and Support Specialist for Duncan-Parnell Inc. at Morrisville, North Carolina
GPS and Mobile GIS Sales Development for Duncan-Parnell Inc. at Charlotte, North Carolina
GIS Analyst for County of Bernalillo at Albuquerque, NM, New Mexico
GIS Manager for City of Vancouver at Vancouver, Washington
Engineer III - Hydraulics for State of Nebraska at Lincoln, California
US-Based Geospatial Software Sales Representative for Kongsberg Geospatial at Ottawa, Any State in the USA
Upcoming Events
GI_Forum 2021 | re.connecting spatially at Salzburg Austria - Jul 5 - 9, 2021
InterDrone 2021 at Hyatt Regency Dallas TX - Aug 10 - 12, 2021
URISA GIS Leadership Academy at 701 Lee St #960 Des Plaines IL - Aug 16 - 20, 2021
8th International Scientific Conference on SOCIAL SCIENCES (ISCSS) 2021 at Congress Centre MARITIM PARADISE BLUE Albena Bulgaria - Aug 21 - 30, 2021
University of Denver GIS Masters Degree Online
UAV Expo2021 -Register   & save



© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise