voxeljet AG (VJET) Reports Q3 Revenues of KRW4.91M

voxeljet AG (NASDAQ: VJET) reported Q3 revenue for the quarter came in at KRW4.91 million, versus KRW4.44 million reported last year.

Highlights - Third Quarter 2020 compared to the Third Quarter 2019

• Total revenues for the third quarter increased 10.6% to kEUR 4,908 from kEUR 4,436
• Gross profit margin increased to 32.7% from 19.5%
• Systems revenues increased 64.2% to kEUR 2,686 from kEUR 1,636
• Services revenues decreased 20.6% to kEUR 2,222 from kEUR 2,800
• Lowered full year revenue guidance to between kEUR 20,700 and kEUR 22,700
• Revenue for the fourth quarter of 2020 is expected to be in the range of kEUR 8,000 to kEUR 10,000.

Dr. Ingo Ederer, Chief Executive Officer of voxeljet, commented, “We have reached three significant milestones with VJET X and the new, large High Speed Sintering (“HSS”) 3D printer over the last months: first, we received the follow-up orders for three additional VJET X units. The order comes as part of a frame contract concluded in 2018 between us and our partners and a premium German car maker. Second, just recently, we received the pre-acceptance from the car maker and our partners for the first two units, which were installed in 2019. We expect to recognize revenue for the first batch of five VJET X units mid-2021. Third, in HSS, we have found a clever and self-adjusting solution to address the challenge of having a stable temperature across a large powder bed: we have filed an IP accordingly. First printing tests on the large HSS printer were successful and we are extremely excited about the new opportunities and markets we plan to address with it.”

GUIDANCE:

voxeljet AG sees Q4 2020 revenue of KRW8-10 million.

For earnings history and earnings-related data on voxeljet AG (VJET) click here.

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