The ExOne Company Reports Fourth Quarter 2020 Results

  • Fourth quarter revenue of $17.4 million supported full-year revenue growth of 11%
  • Record year-end backlog of $39.4 million increased 27% year-on-year and provides runway for 15% to 25% revenue growth expected for 2021
  • Total liquidity increased to $59.7 million at December 31, 2020; subsequently enhanced by common stock sale of approximately $100 million in February 2021

NORTH HUNTINGDON, Pa. — (BUSINESS WIRE) — March 11, 2021The 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 fourth quarter ended December 31, 2020.

“We are pleased to have achieved top-line growth in excess of 20% in the second half of 2020, driven by higher unit sales of our industrial 3D printers. This performance reflects growing interest in our technology, the competitive strength of our solutions, as well as the execution of our global team,” said John Hartner, ExOne’s CEO.

Hartner added, “our team has spent the past year focused on entering 2021 stronger than before, from a technology, product, strategy, and liquidity point of view. Our unique Production Adoption Model continues to engage major manufacturers, who appreciate the program we’ve developed to ensure their move to high-volume binder jetting delivers the highest quality metal products, while the launch of our new X1 Metal Designlab bound metal printer and partnership with Rapidia is expanding our customer reach. Now, with an enhanced liquidity position, we intend to increase our investments in initiatives that will accelerate our growth. In fact, ExOne intends to expand its longtime binder jetting leadership into the broader metal 3D printing category where we see specific organic and inorganic opportunities to reshape the market.”

Q4 2020 Revenue Summary

Three Months Ended

 

 

 

Year Ended

 

 

(in thousands)

December 31,

 

 

 

December 31,

 

 

Revenue by Product Group

2020

 

2019

 

% Change

 

2020

 

2019

 

% Change

3D Printing Machines

$ 9,767

56%

$ 10,700

61%

(9%)

$ 31,470

53%

$ 27,232

51%

16%

3D Printed and Other Products, Materials and Services

7,605

44%

6,834

39%

11%

27,783

47%

26,044

49%

7%

Total Revenue

$ 17,372

100%

$ 17,534

100%

(1%)

$ 59,253

100%

$ 53,276

100%

11%


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