In the additive manufacturing industry, corporate financial reports give a good picture of the future of this industry. This latest report from Optomec indicates that metal additive manufacturing is gaining acceptance over a broad range of industries. Not only is this report good for Optomec, it’s good for the industry as a whole.
Optomec, a leading global supplier of production grade additive manufacturing systems for 3D printed metals and 3D printed electronics, announced strong sales growth for the fiscal year ending December 31, 2015.
The Company reported a 70% increase in revenues compared to 2014, with business spread almost equally across its LENS and Aerosol Jet product lines. Furthermore, it reported that it was profitable for the year with EBITDA of 9%, even as it continues to maintain a high level of investment in the expansion of its distribution channels and product portfolio to drive future growth. The company entered 2016 with approximately 6 months in high-growth backlog.
Contributing to growth were expansions involving multiple systems at several key customers, including General Electric (GE) and LITE-ON Mobile Mechanical SBG (LITE-ON), a global provider of electronic manufacturing services. For example, LITE-ON deployed multiple Aerosol Jet production systems, operating 24×7, at its Guangzhou, China facility. The production ramp gives LITE-ON the capacity to produce 3D antenna and/or 3D sensors for millions of consumer electronics devices per year.
In addition to repeat business from existing customers, Optomec also developed new business with more than 30 new customers in 2015, resulting in orders for more than 60 industrial 3D printers in total – up more than 50% over 2014. The Company enters 2016 with many of these users planning on production rollouts, in particular in the areas of industrial sensors, wearables, healthcare, and hybrid manufacturing.
“Our solid growth in 2015 gives evidence that industrial adoption of high volume additive manufacturing is now a reality at leading corporations,” said Dave Ramahi, Optomec CEO. “The path forward looks promising as our new customers realize the cost and functional advantages of Optomec solutions and plan for further production rollouts. Beyond our commercial successes, 2015 was also significant as we were pleased to welcome GE and Autodesk, two visionaries in the additive manufacturing industry, as strategic investors in the company.”