voxeljet records +10% revenue growth in 2022, but still generates a large loss…

voxeljet – a manufacturer of large-format 3D printers of the Binder Jetting type for the production of sand casting molds, has published financial results for 2022. The company generated EUR 27.8 million in revenue, an increase of +12.1% compared to last year. Unfortunately, it once again recorded an operating loss – this time at EUR -11.4 million, EUR 800,000 more than a year ago…

Total sales of 3D printers amounted to EUR 15.8 million compared to EUR 15.7 million in the previous year. voxeljet sold twelve new and three used and refurbished 3D printers, compared to ten new and four used 3D printers in 2021. However, total sales revenue decreased compared to the previous year due to a less favorable product mix – voxeljet sold last year more cheaper 3D printers than in 2021.

On the other hand, revenues from the sale of materials and spare parts increased significantly due to the increase in the base of installed machines. Revenues from the sale of 3D printers and materials accounted for 56.9% of total revenues for last year, compared to 63.4% in the same period in 2021.

The company recorded an increase in revenues from services by +10.6%. This increase was mainly due to a higher share of voxeljet America Inc.’s revenue share, partially offset by a lower share of voxeljet China Co.’s Chinese subsidiary. Ltd. The share of revenues of the German service center decreased slightly. Total revenue from services amounted to EUR 12.4 million. Since the beginning of 2022, the company has been experiencing strong market demand in the services segment from almost all regions of the world.

Due to operating costs and various repayments of debt and loans, the net loss for 2022 was EUR -11.4 million compared to the net loss of EUR -10.6 million in 2021.

voxeljet forecasts revenues of EUR 27.5 million – EUR 32.5 million in 2023. The gross margin will exceed 31.5%, and adjusted EBITDA for the fourth quarter of 2023 will be slightly negative to neutral. The total order backlog for 3D printers as of December 31, 2022 amounted to €10 million, which corresponds to eleven 3D printers. The production and delivery of voxeljet 3D printers is characterized by long lead times – from three to nine months.

Source: wwwvoxeljet.com