Zortrax achieves record revenue growth in the first quarter of 2022

On Wednesday, Zortrax announced financial results for 2021, which were quite… typical for the last years of the company’s operations. Today, however, it returns with incomparably more enthusiastic information. The revenues of the polish manufacturer for the 1st quarter of 2022 amounted to PLN 17.6 million and were nearly + 48% higher than in the 4th quarter of 2021 and by + 86% higher than the total revenues of Zortrax and Corelens (before the merger of the entities) in the 1st quarter of 2021 year. Despite high, non-cash costs of goodwill amortization in the amount of PLN 1.3 million, in the first quarter of 2022 Zortrax recorded a net profit of PLN 0.3 million.

Normalized EBITDA in the first quarter of 2022 amounted to PLN 2.7 million, compared to PLN 0.7 million in the fourth quarter of 2021, which is an increase of nearly + 298%. Compared to the same period last year, when normalized EBITDA amounted to PLN 1.1 million, the increase was + 148%.

The increase in revenues and profitability is the result of the company’s further activities in the education sector. In the fourth quarter of 2021, Zortrax began supplying Skriware with 3D printers tailored to the needs of the training market. Zortrax devices are part of the proprietary Skriware ecosystem implemented in schools both in the country (including under the government’s Laboratories of the Future program) and abroad.

At the same time, the company is developing in the field of space applications. The WISA Woodsat space mission is planned for 2022, during which prints prepared from special polymers with semiconductor properties will be tested in space conditions. One of them is Z-PEEK – a high-temperature material from Zortrax. The filament has undergone stringent tests in a certified laboratory of the European Space Agency, and on March 17, 2022, ESA issued an official report confirming its compliance with the standard for degassing polymers for space applications.

Source: press materials