voxeljet AG (OTCMKTS: VJTTY), a leading provider of high-speed, large-format 3D printers and on-demand parts services for industrial and commercial clients, has unveiled key financial highlights for the fourth quarter and full year of 2023. Moving forward, the company intends to issue quarterly investor updates to keep stakeholders abreast of ongoing developments and advancements.
Key Highlights for Q4 2023:
- Total revenues surged by 32.9% to kEUR 14,307 compared to kEUR 10,766 in Q4 2022.
- The total gross profit margin for the quarter rose to 34.7% from 26.5% in Q4 2022.
- Systems revenues saw a notable increase of 38.5% to kEUR 11,210 from kEUR 8,096 in Q4 2022.
- Services revenues also witnessed growth, rising by 16.0% to kEUR 3,097 from kEUR 2,670 in Q4 2022.
- The fourth quarter of 2023 marked positive EBITDA as well as adjusted EBITDA.
Key Highlights for FY 2023:
- Total revenues for the full year of 2023 climbed by 19.7% to kEUR 33,326 from kEUR 27,832 in FY 2022.
- The total gross profit margin for the full year of 2023 increased to 31.2% from 29.4% in FY 2022.
- Systems revenues for the full year of 2023 showed robust growth, up by 37.6% to kEUR 21,780 from kEUR 15,828 in FY 2022.
- However, services revenues for the full year of 2023 experienced a slight decline of 3.8% to kEUR 11,546 from kEUR 12,004 in FY 2022.
Dr. Ingo Ederer, Chief Executive Officer of voxeljet, expressed satisfaction with the company’s performance, stating, “Revenue for the fourth quarter of 2023 increased by 33 percent, reaching 14.3 million euros—a new record for quarterly revenue. Full year 2023 revenue increased by 20 percent to 33.3 million euros, surpassing our full year 2023 revenue guidance and setting a new record.”
The company also announced an amendment and expansion of an existing loan note in collaboration with US technology investor Anzu Partners. The net loan proceeds of approximately $5.5 million will be utilized to finance operational activities and facilitate the delisting and deregistration of voxeljet’s ADSs. Following the delisting from Nasdaq on March 22, 2024, and the de-registration from US SEC reporting obligations on April 1, 2024, the company anticipates the ADS to commence trading on the over-the-counter (OTC) market.
Order Backlog:
- As of December 31, 2023, the order backlog value stood at kEUR 5,536, compared to kEUR 9,975 in 2022.
- The number of printers in the order backlog decreased from 11 in 2022 to 8 in 2023.
- The conversion rate of order backlog into revenue is contingent upon the equipping process for the respective 3D printer and the timing of customers’ requested deliveries, considering lead times ranging between three to nine months.
For a virtual tour of voxeljet’s headquarters in Germany, visit: Fly through our HQs in Germany
