- Revenue of $10.8 million, impacted by timing but on track
- 2017 first half realized 22% growth in machine revenue over the same period in 2016
- Backlog grew to $26.3 million
- Revising 2017 revenue expectations to 20% - 25% growth; reiterating expectation for positive Adjusted EBITDA by year end
NORTH HUNTINGDON, Pa. — (BUSINESS WIRE) — August 9, 2017 — The ExOne Company (NASDAQ: XONE) (“ExOne” or “the Company”), a global provider of three-dimensional (“3D”) printing machines and 3D printed and other products, materials and services to industrial customers, reported financial results today for the second quarter ended June 30, 2017.
“Timing impacted our $10.8 million reported revenue for the second quarter, as $2.8 million of revenue carried over into the third quarter by one day. However, our 2017 first half realized 22% growth in machine revenue over the same period in 2016. We believe we are on track to achieve full year consolidated revenue growth in the range of 20% to 25%, considering the exclusion of certain revenue associated with our exited facility,” stated Jim McCarley, ExOne’s Chief Executive Officer.
He continued, “Our operating results for the quarter include investments we are making in our technology, people, and processes to continue the advancement of binder jet technology in the marketplace. Based on our continuing progress, we expect these efforts will significantly improve our future financial performance. We remain confident in our strategic direction and in our pipeline of projects with both new and repeat customers.”
Second Quarter and First Half Revenue – Impacted by Timing
| Quarter Ended | Six Months Ended | ||||||||||||||||||||||||||||||||
| June 30, | June 30, | ||||||||||||||||||||||||||||||||
| (in millions) | 2017 | 2016 | 2017 | 2016 | |||||||||||||||||||||||||||||
| Revenue by Product Line | |||||||||||||||||||||||||||||||||
| 3D Printing Machines | $ | 4.3 | 39 | % | $ | 4.8 | 41 | % | $ | 8.5 | 39 | % | $ | 7.0 | 35 | % | |||||||||||||||||
|
3D Printed and Other Products,
|
6.5 | 61 | % | 7.0 | 59 | % | 13.2 | 61 | % | 13.2 | 65 | % | |||||||||||||||||||||
| Total Revenue | $ | 10.8 | 100 | % | $ | 11.8 | 100 | % | $ | 21.7 | 100 | % | $ | 20.2 | 100 | % | |||||||||||||||||
