The ExOne Company Reports Second Quarter 2021 Results

  • 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, 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 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

 

 

Three Months Ended

 

 

 

 

 

Six Months Ended

 

 

 

(in thousands)

 

June 30,

 

 

 

 

 

June 30,

 

 

 

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%


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