3D printing service provider3D Metalforgehas reported a quarter-on-quarter (QoQ) revenue rise of 13.7 percent in its Q4 2021 financials, driven by building its presence in Australia, Houston, and Singapore.
该公司公布的creased revenue of A$340,000 during Q4 2021 over the A$299,000 reported in Q3 2021, with the QoQ comparison provided due to the firm onlygoing public on the ASX in March 2021, meaning comparative year-on-year figures are not yet available.
According to 3D Metalforge’s Managing Director Matthew Waterhouse, the revenue rise is attributed to the expansion progress within its key hubs during the period, as well as advancements in its field trials and the growing adoption of its additive manufacturing services.
“The December quarter was a period of intense activity for 3D Metalforge, expanding our presence in the Australian resources sector with an agreement with Intercast Australia, commencing the promotion of our services to their customers, alongside the advancements in our collaboration with the University of New South Wales,” he said.
3D Metalforge’s Q4 2021 financials
Since the successful completion of its IPO, 3D Metalforge has continued to see QoQ revenue growth, however saw a drop in year-on-year revenue during the first half of the year.
In August last year, the firm posted aH1 2021 revenue of A$645,000citing new client wins, an expanding sales pipeline, and several projects progressing to field trials as its key revenue drivers. Despite generating A$161,000 less than the A$806,000 it reported during H1 2020, the firm reported “encouraging traction” with the expansion of its expanded US facility and a A$1 million order backlog.
The firm went on to report strong Q3 2021 revenues of A$299,000 in October, up 12 percent on the previous quarter ($266,000). The company’s latest financials continue this quarterly growth trend, with the $360,000 revenue posted in Q4 2021 showing a 13.7 percent rise over Q3 2021.
As of 31 December 2021, 3D Metalforge’s cash balance stood at A$2.7 million with targeted cash spend reportedly in line with the firm’s investment in building its business. The firm’s cash expenditure was A$1.6 million during Q4 2021, with the company expecting the gap between its expenditure and cash inflow to narrow over time as its investments in growth begin to pay off.
Of the A$1.6 million cash expenditure, A$45,000 was directed towards R&D, A$334,000 went to product manufacturing and operating costs, while the remaining expenditure was split between staff costs, administration and corporate costs, leased asset costs, and advertising and marketing activities.
3D Metalforge’s Q4 2021 expansion activities
In its financial report, 3D Metalforge attributed its revenue gains largely to building its presence in Australia, Houston and Singapore.
Starting with Australia, 3D Metalforge made progress with its strategic expansion in the country during the period through signing an 18-month channel partner agreement with leading foundryIntercast Australia. The firm also entered into numerous discussions with players in the resources and energy sectors looking to adopt 3D printing in order to aid their sustainability efforts.
In its Q4 financials, the firm also provided an update on its Memorandum of Understanding (MoU) with theUniversity of New South Wales(UNSW) in Sydney. The partners successfully completed a stage one proof-of-concept study during the period to establish a new machine learning-based 3D printing process for producing metal parts with more than 99.5 percent density in Inconel 718 and other alloys. According to 3D Metalforge, the initial results are encouraging and represent further progress in the firm’s continued engagement with the Australian market.
Since the company’s 20,000 square foot Houston facility got up and running in H1 2021, it has produced its first parts and attracted new business from customers likeCooper MachineryandNOVduring Q4. The firm’s first H-WAAM printer outside Singapore is also set to be installed at the Texas hub in early Q1 2022.
In Singapore, meanwhile, its“world first” AM port facilityestablished earlier this year is continuing to see projects shift from engineering through to testing and full production. During Q4, the firm’s main production equipment in the region reached more than 80 percent utilization. 3D Metalforge is continuing towork with multiple partners on joint industry projectsorganized bySingapore’s Maritime Port Authority.
Advancing field trials and AM part delivery
3D Metalforge’s Q4 report also cited its current field testing activities as key drivers of the quarter’s success, bringing the companycloser to securing contractsand growing its customer base throughout 2022 and beyond.
During Q4, the firm supplied energy conglomerateShellwith3D printed heat exchanger partsat its Jurong Island offshore facility in a record two weeks, enabling Shell to reduce its equipment downtime. In November, three 3D printed parts installed on-boardConocoPhillips’Endeavour oil tanker back in February 2021 were checked andvalidated to be in good working conditionafter six months in operation on the tanker.
“Our field trials are progressing, with a number of these converted into full production orders,” said Waterhouse. “By supplying AM services, what we offer clients is more than just a printer, and the projects delivered for global firms Shell and ConocoPhillips validate our approach of delivering critical spare parts faster and more cost-effectively, to ultimately green clients’ supply chains.”
Q4 2021 also saw 3D Metalforgeexpand its fleet of polymer 3D printersto address new applications within the defense, maritime, and oil and gas sectors. The firm also worked withHitachi Metals Singaporeto widen its range of 3D metal powders during the quarter, delivering a customer print job with a new customized alloy reportedly possessing superior properties to that of stainless steel, namely MAT21. The advantages of the material for the oil and gas sector, and its printability, will be an advantage going forward, the firm said.
3 d Metalforge FY2022前景
Going forwards, the company will seek to deepen its traction in existing markets through its core Australia, Houston, and Singapore hubs, and shift clients from field trials to full production. The firm is also actively looking for opportunities to embed its 3D printing services into client facilities with its ‘shop in a shop’ platform.
“Our pipeline of customers remains solid, underpinned by the technological progress we’ve made during the year, and our encouraging business prospects provide us confidence entering Financial Year 2022,” added Waterhouse.
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Featured image shows3D Metalforge printers printing a large format part in PACF. Photo via 3D Metalforge.
