ExOne (XONE) Tops Q1 EPS by 3c, Revenues Miss

ExOne (NASDAQ: XONE) reported Q1 EPS of ($0.28), $0.03 better than the analyst estimate of ($0.31). Revenue for the quarter came in at $9.6 million versus the consensus estimate of $10.8 million.

S. Kent Rockwell, ExOne’s Chairman and Chief Executive Officer, stated, “Order activity started strong this year, building backlog in support of our expectations for robust revenue growth for 2019 and reinforcing our excitement around the building momentum for our binder jetting printing technology. As we told you in March, our revenue in the first quarter was below last year’s first quarter as a result of timing, and we remain confident in our outlook for a strong second quarter. Importantly, our focus on profitable growth is demonstrated in the measurable reduction in operating expenses and we expect to realize strong operating leverage as we grow through the year.”

He added, “We are enthusiastic about our ongoing new product development efforts. Our new X1 25PRO™ larger format fine powder direct printing machine is receiving positive reviews during beta tests. Additionally, development of our new advanced indirect machine is progressing well. We continue to work closely with customers to identify innovative application opportunities, to further the adoption of binder jetting technology for additive manufacturing.”

Reconfirming 2019 Goals – Revenue Growth Rate in Mid-Teens, Positive Adjusted EBITDA

Mr. Rockwell concluded, “Our visibility into order activity and our improved operating model give us confidence in reconfirming our previously stated 2019 goals for mid-teen revenue growth and positive Adjusted EBITDA. In addition, as we have previously discussed, we are targeting revenue growth at increasing rates over each of the next several years. Importantly, we believe we have sufficient capital to execute our plans. We will continue to invest in innovative new opportunities in a cost efficient manner, advancing our market-leading position in binder jetting technology.”

The Company expects 2019 revenue to be distributed approximately 35% in the first half of the year and 65% in the second half.

For earnings history and earnings-related data on ExOne (XONE) click here.

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