French 3D printer manufacturer Prodways announced a strong third quarter 2022 and reiterated its revenue forecast for the entire year. As stated in the latest financial report for the third quarter of 2022, the company generated EUR 17.2 million, i.e. + 4.9% more than in the corresponding period a year ago, but EUR -1.7 million less than in the second quarter of this year. year. At the same time, it was reported that the company’s revenue growth year-on-year was driven by the large number of orders generated by the dental sector.
Since Prodways spun off from Groupe Gorgé in late 2021, the company has reported its financial data independently of its parent company. However, the company’s data is still reported in terms of systems and products, with the latter showing the largest increase in Q3 2022 – + EUR 8 million.
Growth in the product segment, which includes on-demand manufacturing services and integrated medical operations, was mainly driven by external factors as only 8% of growth was organic. There is also an increasing demand for Prodways’ medical applications offering. Audiology revenues increased + 45% thanks to the acquisition of Auditech, which contributed to overall revenue growth from July 1, 2022.
In turn, revenues from the Prodways systems segment decreased by -5.1% to EUR 9.2 million. According to the company, this is due to a shift in deliveries, as well as increased material consumption and a shift in the seasonality of software revenues. The company adds that its revenues increased by 14% in the first nine months of 2022, which is related to sales of machinery and materials as well as overall software activity.
Source: Prodways