- Sigma announcement outlines operational, financial highlights
- Management calls 2019 “milestone year” and believes that SGLB technology is on forefront of next industrial revolution
- Company anticipates seeing continued momentum from both end users and additive manufacturing machine OEMs
Sigma Labs (NASDAQ: SGLB), a leading developer of quality-assurance software for the commercial 3D-printing industry, announced its financial and operational results for Q4 and fiscal year ending December 31, 2019 (http://ibn.fm/A6ck8).
The announcement outlined several key highlights for the company, including entering into a joint sales agreement with Materialise, being awarded Phase 2 test and evaluation program status from different manufacturers and being selected by a major international OEM machine manufacturer to integrate Sigma’s exclusive PrintRite3D(R) quality-assurance software program as part of an evaluation process for a broader rollout.
“2019 was a milestone year for Sigma Labs, as we transitioned from an R&D-focused company into a full-fledged commercial enterprise, complete with a validated, user-friendly product with customers who are some of the largest industrial companies in the world and in the top echelon of additive manufacturing OEMs,” SGLB executive chairman Mark Ruport stated in a news release. “I am particularly proud of our recently announced joint sales agreement with Materialise, a leading provider of additive manufacturing software and 3D-printing solutions, to commercialize our newly integrated PrintRite3D quality-assurance technology within the Materialise control platform. I continue to see intense interest from industry players of every size, proving the absolute value inherent to our technology.”
The announcement mentioned additional highlights for the quarter, which included being selected by a major Japanese OEM machine tool manufacturer for a test and evaluation program of PrintRite3D Real Time Melt Pool Analytics and being awarded several key contracts, including a contract to implement PrintRite3D in collaboration with university research centers at the Northwestern University, a contract with the Mississippi State University Center for Advanced Vehicular Systems, and a contract with the VTT Technical Centre of Finland to install PrintRite3D at the VTT 3DMetalprint Centre for Additive Manufacturing.
Year-end highlights included being chosen by Airbus to deploy the PrintRite3D version 5.0 product into a laser powder bed printer as part of a testing and evaluation program, launching the breakthrough version 5.0 quality-assurance software at the RAPID+TCT 3D Printing and Additive Manufacturing Conference and realizing third-party validation of its PrintRite3D software through a Defense Advanced Research Project Agency research study conducted in collaboration with Honeywell Aerospace.
“Sigma is truly on the forefront of the next industrial revolution, addressing a major cost headwind to allow additive manufacturing technology to further scale and revolutionize many industries,” added Ruport, who noted that, given the COVID-19 crisis, Sigma’s principal commitments are to its employees, shareholders and customers. “We continue to see momentum from both end users, who constantly serve as a reminder of the value of our technology, and from additive manufacturing machine OEMs, who see inherent value in integrating PrintRite3D into their machines. Revenues from either of these avenues could build rapidly, but more importantly could provide for a repeatable revenue stream with exceptional gross margins.”
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 about Sigma Labs, please visit 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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