质量保证软件开发人员Sigma Labs(SGLB) has announced that it aims to generate $65 million per year by 2025 alongside plans to shift towards a software-only business model.
在Sigma Labs的2021财年收益电话中，其首席运营官Jacob Brunsberg概述了一个新的每月订阅计划，旨在启用其PrintRite3Dproduct to be deployed “at a much larger scale.” According to Brunsberg, lowering the initial cost barrier to entry of the technology could see up to 10% of all metal 3D printing users adopting it over the next three years, sending the firm’s income soaring.
“The market has an approximate install base of about 12,000 metal systems today,” explained Brunsberg on the call. “With a growth rate of approximately 20% year-over-year, that’s greater than 2,000 new systems entering the market every year.”
“By the end of 2025, we feel it’s achievable to address more than 10% of the marketplace’s quality needs with a software-only subscription,” he added. “This would conservatively yield a year-over-year revenue of approximately $65 million.”
Sigma Labs的2021财年财务
Although Sigma Labs doesn’t report its revenue by segment, it’s understood to derive the majority of its income from its PrintRite3D in-process quality assurance (IPQA) platform. As it stands, ahead of the roll-out of the firm’s subscription service, the product comes with both hardware and software modules, which provide users with real-time metal and polymer 3D printer monitoring capabilities.
Through the sales of PrintRite3D in this configuration, Sigma Labs generated $1.7 million in revenue during FY 2021, 104.5% more than it managed to bring in over FY 2020. Speaking on the company’s earnings call, its CEO Mark Ruport explained that its OEM agreements withAdditive Industries和DMG MORIhad “yielded some significant customers in key verticals,” driving growth through the period.
Ruport added that its install base had expanded significantly over FY 2021, thus it now includes “world class customers” likeLos Alamos National Lab,Safran和theUS Department of Energy，他希望与Aconity3Din January 2022 to bring further revenue gains over the coming year.
Delving deeper into Sigma Labs’ financials, it’s also worth noting that its gross profit rose dramatically from $200,000 in FY 2020 to $1.1 million in FY 2021. This jump in profitability was caused by a lowering of the firm’s overall manufacturing costs, enabled by a combination of certain components becoming cheaper, engineering redesigns and efficiencies achieved within its production process.
However, despite Sigma Labs’ rising gross profit, its net loss still increased 42% from $5.2 million to $7.4 million between FY 2020 and FY 2021. On the company’s earnings call, its CFO Frank Orzechowski revealed that this was down to its higher operating costs during the period, which rose from $5.9 million to $9.6 million, and some $2.7 million of this was shelled-out on staff-related expenses.
| Sigma Labs’ Financials ($) | FY 2020 | FY 2021 | Difference (%) | FY 2019 | FY 2021 | Difference (%) |
| Revenue | 0.8m | 1.7m | +104.5 | 0.4m | 1.7m | +310.4 |
| Cost of Revenue | 0.59m | 0.56m | -5.4 | 0.57m | 0.56m | -2.5 |
| Gross Profit | 0.2m | 1.1m | +406.6 | 0.2m | 1.1m | +406.6 |
| Net Loss | -5.2m | -7.4m | +42 | -6.3m | -7.4m | +18.9 |
Sigma Labs’ subscription revamp
During Sigma Labs’ earnings call, Brunsberg explained that 3D printer manufacturers are increasingly opening up to third-party integration, while subsystem providers are adding key monitoring connections to their hardware. As a result, the firm is seeing less need to retrofit machines, as they are starting to natively allow third-party agnostic connections, hence its shift to offering a software-only platform.
“Instead of selling individual hardware software systems into the retrofit market, one at a time, which is time consuming and costly, we are working towards leveraging the printer’s computing infrastructure, and embedding our software in thousands of printers from multiple manufacturers,” Ruport added on the call. “That’s what I envisioned when I joined Sigma two years ago.”
虽然Brunsberg说,他不希望我pact of Sigma Labs’ new business model to significantly affect its revenue until H2 2022, he suggested that it has already “resonated strongly with its customer base,” thus when it does begin to kick-in, it could begin to have a “really good impact” on revenue if this interest can be converted into sales.
Aside from its new subscription strategy, the company also announced a partnership withAMFGin the run up to the publication of its financial results. The move is expected to not only expand the footprint of both firms’ products, but provide users with a new and improved 3D printing solution that enables them to improve their print quality and efficiency when used within serial production.
“像Sigma Labs一样，AMFG致力于深入协作，使个人客户以及整个增材制造业都受益。”“在过去的几年中，重点从开发技术的缘故转变为解决最终用户的业务问题。我们的两家公司都是拥抱这一趋势的行业领导者。”
“我们之所以选择与AMFG合作，是因为它们在制造执行空间中享有良好的声誉。”
Subscription-based growth ahead?
Though Sigma Labs has stopped short of issuing guidance for FY 2022, Brunsberg has set it the ambitious goal of hitting the $65 million revenue mark by 2025. Even for those “less bullish” in their expectations of the firm, Brunsberg added that a 3% level of penetration in the metal 3D printing market, would still see it pass the $20 million milestone in the next three years, and this he considered “conservative.”
Given that Sigma Labs reinforced its coffers with a $13.3 million common stock offering in FY 2021, it finished the year with $11.7 million in working capital, giving it the financing to realize its lofty revenue goals. What’s more, the firm believes that the more accessible nature of its offering along with the increasingly open nature of new 3D printers, will create significant opportunities for it in the years ahead.
“那么，今年余下的时间您应该期望Sigma什么？”布伦斯伯格在闭幕评论中言辞地问。“我们将通过与OEM合作提供仅软件解决方案的其他协议，在OEM领域中扩大我们的足迹，在此协议中，他们在下一代打印机的设计中采用开放系统。”
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Featured image shows a part being 3D printed while being monitored using Sigma’s PrintRite3D software. Photo via Sigma Labs.
