- Company
reports increased revenue over last year’s Q3 numbers
- Key
operational highlights point to even stronger revenue growth moving into
2020
- Sigma
Labs’ pioneering software provides essential element to spur additive
manufacturing into the next industrial revolution
Sigma
Labs Inc. (NASDAQ: SGLB), a leading developer of quality assurance software
for the commercial 3D-printing industry, reported its financial and operational
results for the third quarter ended Sept. 30, 2019 (http://ibn.fm/jmBVm). The
company noted that recent progress with original equipment manufacturers
(OEMs), end users and additive-manufacturing integrators positions SGLB for
strong revenue growth in 2020.
“The third quarter of 2019 was highlighted by continued
success in engaging both OEMs and end users as PrintRite3D(R) customers,
driving continued industry awareness and developing promising commercial
opportunities,” said Sigma Labs chairman and CEO John Rice. “Notably, we were
recently selected by a major Japanese OEM machine-tool manufacturer entering
the commercial, metal 3D-printing market, as well as an unnamed major
international OEM machine manufacturer, to deploy PrintRite3D systems for their
respective evaluation programs. We believe a partnership to integrate our
technology at the OEM level for any major additive manufacturing machine OEM,
such as those we are in evaluations with now, could drive notable license
revenue growth in the short term and very significant pass-through revenue from
the OEM’s customers in the mid and long term.”
He continued, “We are pleased and encouraged by the robust
interest we continue to see from industry OEMs and look forward to providing
our shareholders with an update as these evaluations progress over the next
several months.” This increased interest from OEMs stands to translate into
lucrative gains for SGLB. Market indications continue to trend upward, as the
global additive manufacturing market is expected to exceed more than $6.50
billion by 2024 and will grow at a CAGR of more than 13% in the given forecast
period (http://ibn.fm/YkU49).
In its Q3 2019 report, Sigma Labs pointed to several
significant operational milestones, including:
- Awarded
two-machine contracts and selected for a Phase 2 test and evaluation
program of PrintRite3D in-process, quality-assurance software by a
leading global-energy technology company
- Selected
by major Japanese OEM machine-tool manufacturer for a test and evaluation
program of PrintRite3D real-time melt pool analytics
- Awarded
RTE contract by VTT Technical Centre of Finland to install
PrintRite3D at the VTT 3DMetalprint Centre for Additive Manufacturing
- Selected
by a major international OEM machine manufacturer to deploy two
PrintRite3D quality-assurance software programs as part of an evaluation
process for a broader rollout
- Selected
by Airbus to deploy the PrintRite3D version 5.0 software product into a
fusion printer as part of a testing and evaluation program ahead of a
larger potential commercial rollout throughout the Airbus organization.
In addition, this week SGLB’s chief technology officer
Darren Beckett presented and demonstrated PrintRite3D at Formnext 2019, the
leading global exhibition on additive manufacturing, held in Frankfurt,
Germany.
“Additive manufacturing is, in our mind, undoubtedly the
next industrial revolution,” said Rice. “And we are on the forefront of
revolutionizing an essential element for its widely forecast leap to serial
manufacturing. The flexibility inherent to additive manufacturing, combined
with the increased quality and decreased risks, waste and costs accomplished
with our PrintRite3D technology, create an unbeatable combination.”
Founded in 2010, Sigma is a software company that
specializes in the development and commercialization of real-time,
computer-aided-inspection (CAI) solutions known as PrintRite3D for 3D advanced
manufacturing technologies. SGLB’s advanced computer-aided software product revolutionizes
commercial additive manufacturing, enabling nondestructive quality assurance
mid-production, uniquely allowing errors to be corrected in real time.
For more information, visit the company’s website at www.SigmaLabsInc.com
NOTE TO INVESTORS: The latest news and updates
relating to SGLB are available in the company’s newsroom at http://ibn.fm/SGLB
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