- Company reports increased revenue over last year’s Q3 numbers
- Key operational highlights point to even stronger revenue growth moving into 2020
- Sigma Labs’ pioneering software provides essential element to spur additive manufacturing into the next industrial revolution
Sigma Labs Inc. (NASDAQ: SGLB), a leading developer of quality assurance software for the commercial 3D-printing industry, reported its financial and operational results for the third quarter ended Sept. 30, 2019 (http://ibn.fm/jmBVm). The company noted that recent progress with original equipment manufacturers (OEMs), end users and additive-manufacturing integrators positions SGLB for strong revenue growth in 2020.
“The third quarter of 2019 was highlighted by continued success in engaging both OEMs and end users as PrintRite3D(R) customers, driving continued industry awareness and developing promising commercial opportunities,” said Sigma Labs chairman and CEO John Rice. “Notably, we were recently selected by a major Japanese OEM machine-tool manufacturer entering the commercial, metal 3D-printing market, as well as an unnamed major international OEM machine manufacturer, to deploy PrintRite3D systems for their respective evaluation programs. We believe a partnership to integrate our technology at the OEM level for any major additive manufacturing machine OEM, such as those we are in evaluations with now, could drive notable license revenue growth in the short term and very significant pass-through revenue from the OEM’s customers in the mid and long term.”
He continued, “We are pleased and encouraged by the robust interest we continue to see from industry OEMs and look forward to providing our shareholders with an update as these evaluations progress over the next several months.” This increased interest from OEMs stands to translate into lucrative gains for SGLB. Market indications continue to trend upward, as the global additive manufacturing market is expected to exceed more than $6.50 billion by 2024 and will grow at a CAGR of more than 13% in the given forecast period (http://ibn.fm/YkU49).
In its Q3 2019 report, Sigma Labs pointed to several significant operational milestones, including:
- Awarded two-machine contracts and selected for a Phase 2 test and evaluation program of PrintRite3D in-process, quality-assurance software by a leading global-energy technology company
- Selected by major Japanese OEM machine-tool manufacturer for a test and evaluation program of PrintRite3D real-time melt pool analytics
- Awarded RTE contract by VTT Technical Centre of Finland to install PrintRite3D at the VTT 3DMetalprint Centre for Additive Manufacturing
- Selected by a major international OEM machine manufacturer to deploy two PrintRite3D quality-assurance software programs as part of an evaluation process for a broader rollout
- Selected by Airbus to deploy the PrintRite3D version 5.0 software product into a fusion printer as part of a testing and evaluation program ahead of a larger potential commercial rollout throughout the Airbus organization.
In addition, this week SGLB’s chief technology officer Darren Beckett presented and demonstrated PrintRite3D at Formnext 2019, the leading global exhibition on additive manufacturing, held in Frankfurt, Germany.
“Additive manufacturing is, in our mind, undoubtedly the next industrial revolution,” said Rice. “And we are on the forefront of revolutionizing an essential element for its widely forecast leap to serial manufacturing. The flexibility inherent to additive manufacturing, combined with the increased quality and decreased risks, waste and costs accomplished with our PrintRite3D technology, create an unbeatable combination.”
Founded in 2010, Sigma is a software company that specializes in the development and commercialization of real-time, computer-aided-inspection (CAI) solutions known as PrintRite3D for 3D advanced manufacturing technologies. SGLB’s advanced computer-aided software product revolutionizes commercial additive manufacturing, enabling nondestructive quality assurance mid-production, uniquely allowing errors to be corrected in real time.
For more information, visit the company’s website at www.SigmaLabsInc.com
NOTE TO INVESTORS: The latest news and updates relating to SGLB are available in the company’s newsroom at http://ibn.fm/SGLB
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