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Greater than 50% of the Q1 bookings were from current Optomec customers who are expanding their 3D additive manufacturing production capacity, including several Fortune 100 companies. Q1 revenues also increased over 100% compared to the previous year and the Company was profitable. The Company maintains a substantial backlog that will ensure continued revenue growth through the remainder of 2015.
Q1 business was split almost equally across the company’s two core product lines for printing structural metals and functional electronics, and came equally from international and domestic customers.
The LENS Metal Printing products experienced growth, including a strategic order for a production workcell to apply 3D wear-resistant coatings for industrial applications.
“We’ve seen very promising signs in our first quarter performance, notably the fact that half of our sales came from existing industrial customers looking to expand production capacity. These repeat orders confirm that our open systems approach to additive manufacturing delivers proven value and ROI in real-world production applications,” said Dave Ramahi, Optomec CEO. Ramahi also noted that active engagements with large consumer electronics and industrial metal working companies will continue to fuel growth.
Read the full press release here
More information on our partner Optomec: here