- Record second quarter revenue of $18.8 million increased 69% year-on-year and 44% sequentially
- Second quarter revenue includes an all-time quarterly record for recurring revenue of $8.3 million, up 34% year-on-year, driven by material sales
- Record backlog of $48.7 million increased 27% year-on-year
- ExOne enters into definitive agreement to be acquired by Desktop Metal, Inc.
NORTH HUNTINGDON, Pa. — (BUSINESS WIRE) — August 11, 2021 — The ExOne Company (Nasdaq: XONE) (“ExOne” or the “Company”), the global leader in industrial sand and metal 3D printers using binder jetting technology, today reported financial results for the second quarter ended June 30, 2021.
ExOne will not host a conference call to discuss its results for the second quarter of 2021 or provide forward guidance, due to the announced proposed acquisition of ExOne by Desktop Metal, Inc (“Desktop Metal”). Information relating to the proposed acquisition can be found at the Desktop Metal investor relations website – https://ir.desktopmetal.com.
“The ExOne Team is proud to deliver a record second quarter revenue result, driven by market momentum we continue to see for our portfolio of products, which we believe is the strongest in the company’s history and also in the binder jet marketplace, as well as an all-time high in both quarterly recurring revenue and backlog,” said John Hartner, ExOne’s CEO.
“We’re also benefiting from secular trends that we believe will continue to lift ExOne long into the future, such as a desire to lightweight cars and aircraft for sustainability benefits. While COVID-19 continues to cast uncertainty over the markets we serve, we also see early signs of an economic restart, led by the U.S. market, and a shift in manufacturing approach as a direct result of the pandemic that also benefits ExOne. We’re talking to an increasing number of manufacturers who are looking to de-risk and shorten supply chains in a way that supports increased interest in additive manufacturing technologies such as binder jetting for more localized production.”
Q2 2021 Revenue Summary
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|
Three Months Ended |
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|
|
|
|
Six Months Ended |
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|
|
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(in thousands) |
|
June 30, |
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|
|
June 30, |
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Revenue by Product Line |
|
2021 |
|
2020 |
|
% Change |
|
|
2021 |
|
2020 |
|
% Change |
||||||||||||||||||||||||||
3D Printing Machines |
|
$ |
10,503 |
|
|
|
56 |
% |
|
$ |
4,898 |
|
|
|
44 |
% |
|
114% |
|
|
$ |
15,408 |
|
|
|
48 |
% |
|
$ |
11,215 |
|
|
|
46 |
% |
|
37% |
||
| 3D Printed and Other Products, Materials and Services |
|
|
8,279 |
|
|
|
44 |
% |
|
|
6,201 |
|
|
|
56 |
% |
|
34% |
|
|
|
16,395 |
|
|
|
52 |
% |
|
13,267 |
|
|
|
54 |
% |
|
24% |
|||
| Total Revenue |
|
$ |
18,782 |
|
|
|
100 |
% |
|
$ |
11,099 |
|
|
|
100 |
% |
|
69% |
|
|
$ |
31,803 |
|
|
|
100 |
% |
|
$ |
24,482 |
|
|
|
100 |
% |
|
30% |
||
