按需制造服务提供商Fathom Digital Manufacturing(FTHM) has reported its revenue grew by 33% in Q1 2022.
Over the course of the period, which marked the first full quarter as apublic company on the NYSE, the firm generated $40.5 million, $10 million more than the $30.5 million it reported in Q1 2021. According to CEO Ryan Martin, the revenue rise is a result of securing several significant multimillion-dollar contracts during the quarter, a “strong orders volume”, and expanding its backlog of new business.
他说：“在作为上市公司的第一季度，Fathom在其第一季度取得了积极的成果。”“我们是具有盈利能力和现金创造历史的行业先驱，并在第一季度扩展了这一传统，因为我们继续从快速发展的数字制造市场中对广泛能力的强劲需求受益。”
Fathom的第一季度2022财务业绩
Fathom generally reports its revenue across five key product segments: Additive Manufacturing, Injection Molding, CNC Machining, Precision Sheet Metal, and ‘Other Revenue.’
在第1季度2022年，该公司表现最佳的部门是精密钣金，这带来了1460万美元，占该期间产生的总收入的36％。这一增长主要是通过与全球半导体公司达成了一项新的数百万美元协议来驱动的，该协议提供了低容量的金属生产，这跟随了与客户有关CNC加工的先前工作。
The company’s next highest revenue generator was its CNC Machining division, which brought in $13.3 million in Q1 2022, 11.9% more than it did in Q1 2021. Following this was Injection Molding at $6.8 million, Additive Manufacturing at $4.1 million, and Other Revenue at $1.6 million.
On the earnings call, Fathom’s CFO Mark Frost said that while its Additive Manufacturing segment was down 8.6% compared to Q1 2021, the firm maintained its pricing discipline during the quarter and is continuing to invest in new additive technologies, remaining “bullish” on the long-term growth of its additive platform.
他说：“除了季节性因素外，由于Omicron变体的传播，我们的第一季度收入受到了1月初国内放缓的影响，这减少了添加剂的收入。”“由于亚洲的共同锁定，我们还经历了外包业务的减少，这尤其影响了我们的注射成型运输。”
Frost also added that Q1 tends to be its lowest revenue-generating quarter based on its ‘customer and commercial behaviors’, and although its organic revenue grew 6% during Q1 2022, $7.7 million of the firm’s Q1 revenue was the result of five acquisitions completed during the period; one domestic injection molding firm and four additional acquisitions focused on CNC machining.
Regarding profitability, Martin said the firm delivered a “profitable quarter” as a result of adjusted EBITDA during the quarter totaling $6.2 million, representing a 15.2% margin. Frost added that while Fathom incurred a dilution impact from the CNC acquisitions on its gross margin compared to the prior year, which reduced the adjusted EBITDA of benefit, this had been built into the company’s EBITDA expectations for the quarter. Meanwhile, the firm’s gross margin for Q1 2022 was 38.2%.
| Financials ($) | Q1 2021 | Q1 2022 | Difference (%) |
| Total Revenue | 30.5m | 40.5m | +32.8 |
| Additive Manufacturing | 4.5m | 4.1m | -8.6 |
| 注射成型 | 6.6m | 6.8m | +2.7 |
| CNC Machining | 4.8m | 13.3m | +175.8 |
| 精密钣金 | 13.1m | 14.7m | +11.9 |
| Other Revenue | 1.4m | 1.6m | +11.4 |
| Net Income/Loss | -0.5m | 17.8m | +3660 |
| 调整后的EBITDA | 7.7m | 6.2m | -19.4 |
扩展钥匙垂直方向
On Fathom’s earnings call, Martin provided several examples of how the firm successfully accelerated manufacturing innovation throughout Q1 2022, and helped several of its larger enterprise customers to transform their supply chains.
在第一季度，Fathom与一位未命名的现有客户合作，被描述为气体测量，工具和技术的全球领导者，以将其产品的生产从每月25个单位增加到近75个，利用其CNC加工和电线EDM产品。
“This is yet just another example of how Fathom is able to identify and capitalize on new organic growth opportunities that expand our share of wallet, build entrenched, long-lasting partnerships with enterprise customers and generate attractive reoccurring revenue streams that benefit not only our company, but our shareholders,” Martin said.
Fathom also worked with customers across the robotics, consumer electronics, semiconductor, and agricultural equipment industries to reduce significantly reduce their time-to-market and transform their supply chains.
Throughout Q1 2022, Fathom worked with two firms, one in the consumer electronics vertical and the other within agricultural equipment, to increase their adoption of additive manufacturing. For the consumer electronics firm, Fathom solved its customer labor shortage by leveraging a Manufacturing As A Service (MAAS) agreement with its 3D printing technologies, while Fathom’s additive manufacturing prevented a “down line situation” expected to last five days at the agricultural equipment firm with its additive manufacturing offering.
在Evolve Step启动之前预测增长
Off the back of its Q1 2022 financials, Fathom has reiterated its previously stated guidance of revenue between $182 million and $192 million for FY 2022. If achieved, this would represent an increase of around 23%.
The firm’s full year outlook for adjusted EBITDA is also unchanged, as it expects to generate between $40 million and $45 million in 2022 for an implied margin of 22% to 23.4%.
Looking ahead to Q2 2022, the firm predicts revenue growth of between 17-25%, of which organic growth is anticipated to be 10% or higher. On the earnings call, Frost said Fathom anticipates to leverage its higher revenue growth through stronger cost absorption and the ramp up of lean manufacturing activities during Q2 2022.
Frost also repeated the firm’s intention to further strengthen its additive manufacturing capabilities throughout the rest of 2022 with the commercial launch of its new Evolve Step technology midway through the year.
“This advancement in additive manufacturing is another example of Fathom leading the transition from prototyping into additive production as this technology dramatically reduces lead times for parts compared to traditional injection molding tools and parts,” he said. “In addition, we recently installed a new laser sintering system with two high-powered lasers for Polymer 3D printing, enabling the rapid production of parts.
“This is a major step up from predecessor systems leading to greater efficiencies, and productivity.”
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特色图片显示a selection of 3D printers in Fathom’s expansive technology offering. Photo via Fathom Digital Manufacturing.
