#5 High hopes and deep disappointments

August is a very interesting month in business. On one hand, it's the middle of summer—except for strictly seasonal businesses—everyone goes on vacation to relax. On the other hand, it's the time when publicly traded companies release their periodic reports for the second quarter and the first half of the year.

And in the 3D printing industry, this is usually not something everyone is eager to boast about…

Traditionally, the best quarters in the industry are the first and fourth. The AM sector does not particularly stand out in this regard. Their total revenues are relatively lower, while costs are disproportionately higher than in other industrial sectors.

And the weaker months in terms of business conditions make this very evident.

At the moment, Materialise and Desktop Metal have published their financial results. In the case of the former, it's a positive surprise; as for the latter... well... we can see that for now the good times are rather over…

Generally, the stock market is not kind to companies in the AM sector.

While the old guard—Stratasys, 3D Systems, Materialise—had their good moments, the new breed—Desktop Metal, Markforged, Velo3D, or Shapeways—has completely floundered there.

In August, the German BigRep joined the ranks of publicly traded companies. Everyone has great expectations and high hopes for them.

Maybe they'll succeed?

So much for the introduction. And now, without further ado...

Do you know what an atomic newsletter is?

So first came the "Atomic Essay." The concept was popularized by Dickie Bush ?? as a way to stay consistent with publishing content on a daily basis. An atomic essay consists of one single idea, written in a maximum of 250 words, and readable via a single screenshot.

Something longer than a Twitter thread, but shorter than a blog post.

Soon, based on this concept, the "Atomic Newsletter" emerged—a format containing the absolute minimum of maximally valuable content. For example, three news items contained in 40 words and 220 characters.

These are real numbers from a real newsletter I receive. No, it's not about additive manufacturing.

My question to you is—do you find this valuable?

I know, "we'd have to see it," etc. But for now, I'm asking about the concept itself? It's a bit like a written response to TikTok, and kind of a return to what Twitter originally was, where limitations were an advantage.

I'm not planning to give up this newsletter or my long essays on Medium—I'm just considering whether to introduce an additional format for publishing content.

What do you think? Would you subscribe?

That's all from me - for now, I invite you to read:

? 3 articles on Medium

? TOP 7 news of the week

? TOP 7 historic events in the 3D print world.

#7. 3D-Fuel announces its Independence!

Let's start with a modest but quite interesting piece of news. 3D-Fuel , one of the largest American filament manufacturers, has announced that it is independent again.

Hmm... So they were "dependent"? Let's go through the events...

On July 27, 2023, 3D-Fuel announced a strategic partnership with Essentium (A Nexa3D Company) , a manufacturer of industrial FDM/FFF 3D printers. The partnership consolidated 3D-Fuel’s production to Essentium’s facilities in Texas and "ensured the supply of materials is done through a single provider."

However, in November of the same year, Essentium decided to become part of Nexa3D . On January 12, 2024, this merger became a formal fact.

It then appeared as if 3D-Fuel would also become a Nexa3D brand, but at the end of July, 3D-Fuel announced that it was separating from all of this and would once again be an independent company.

The official statement is quite interesting in the way the words were chosen:

This renewed independence will allow 3D-Fuel to return to the quality, reliability, and customer support that built our reputation in the desktop 3D printing market. It will also allow 3D-Fuel to be more agile in addressing customer needs in that rapidly evolving market, demonstrating its commitment to putting our customers at the center of everything we do.

• "Return to quality"
• "Putting customers at the center of everything we do"

Interesting.

It's nice that they decided to return. In the sense that they were somewhere else. Interesting.

Anyway, godspeed 3D-Fuel!

Read full statement: www.3dfuel.com

#6. Hitachi Rail partners with ROBOZE

This news might seem rather secondary—just another implementation of an industrial 3D printer at a large customer. However, it has gained significant attention in the railway industry media. Really! There, it's almost the news of the summer.

Hitachi Rail has chosen the Roboze ARGO 500 high performance polymer 3D printer to operate in its factory in Naples, in Italy, as well as in new rail factory in Washington County, Maryland in USA.

The new machines will enable Hitachi Rail to work with industrial-grade materials such as ULTEM 9085 and Carbon PEEK for the production of spare parts for its trains.

But the collaboration extends beyond the mere supply of machines. Hitachi Rail will also benefit from the engineering services and consulting provided by ROBOZE's expert teams, both in the United States and Italy.

It's also worth mentioning the significant role additive manufacturing plays and could continue to play in the railway industry, which is often overlooked among the most popular adopters of this technology.

Read full story: www.railway-technology.com

#5. Azul 3D launches POND - a research-friendly 3D printer

Last week, we saw one significant 3D printer launch. Illinois-based Azul 3D, Inc introduced POND, a photopolymer machine based on their proprietary HARP technology, aimed at research and development centers.

HARP stands for High Area Rapid Printing. The technology uses a liquid interface that remains molecularly flat across the entire build area during the 3D printing process, enabling high precision and ensuring thermal consistency by removing heat from the curing reaction.

Thermal consistency is the key phrase for this technique, as it removes heat from the system right where it is generated by the curing reaction.

In June, Azul 3D unveiled the large-format OCEAN machine, boasting an impressive 812 x 812 mm build volume and build speeds of up to 300 mm per hour. This 3D printer is designed for large-scale additive manufacturing. POND, on the other hand, is its opposite.

POND is a research-friendly tool designed to accelerate the identification, validation, and commercialization of parts. The company claims that the first 3D printers have already been delivered to select partners, including Sandia National Laboratories.

Read full story: www.tctmagazine.com

#4. Nikon opens new manufacturing center in California

Last week I covered the openings of new production centers by Ursa Major and Kings 3D – now it’s time for another one. Nikon , along with Nikon Advanced Manufacturing , has announced the opening of the new Nikon AM Technology Center located in Long Beach, California.

This state-of-the-art, 90,000-square-foot facility marks a key step in implementing the Nikon Vision 2030 plan, aiming to revolutionize manufacturing and establish digital manufacturing (DM) as a growth pillar for Nikon. The center's location has been strategically chosen to serve clients in the aviation, aerospace, and defense industries.

As I have mentioned many times in the past, Nikon is one of the biggest advocates of AM among the world's largest industrial corporations. This investment only confirms the Japanese company's commitment to 3D printing and gives hope for a better tomorrow for the rest of the industry...

The Nikon AM Technology Center brings together a diverse and specialized team, including Nikon AM Synergy Inc. - the reorganized Morf3D Inc. , and the metal 3D printer manufacturer Nikon SLM Solutions , along with Nikon's Research and Development division.

This division will focus on developing proprietary Nikon technologies, including direct energy deposition (DED) solutions, as well as engineering innovations, demonstrations, and the development of next-generation systems.

The core principles of the center include collaboration, partnership, and flexibility, with production capabilities available both on-site and at customer locations, including contract manufacturers (CMs). The center utilizes the most advanced laser powder bed fusion (L-PBF) tools from Nikon SLM Solutions AG and precision Nikon DED equipment, capable of working with a wide range of innovative and widely used alloys.

#3. Desktop Metal keeps struggling...

One of the biggest events of the year was-and likely will remain-the merger of Desktop Metal with Nano Dimension . As we recall, the value of the transaction was disappointing for everyone (except Nano Dimension, of course), and its underlying motive was to pull Desktop Metal out of a financial slump.

The recently published financial report for the second quarter of 2024 only confirms this. The company's situation is dire, and its only hope is ongoing restructuring. Given the macroeconomic conditions, other options like a "rapid increase in sales" seems unlikely...

The company reported a revenue of $38.9 million, down 27% from $53.3 million for the same period last year and a net loss of $103.4 million. Operating expenses increased to $69.1 million. The only good news is improved adjusted EBITDA at negative $13.2 million compared to negative $15 million in the same quarter of 2023.

So, yeah…

Ric Fulop said:

By the end of Q1, we had delivered nine quarters of operating expense reduction and brought our cash burn down dramatically. We have strategically realigned our business to reflect a lower growth environment driven by 11 interest rate hikes, and from a margin perspective, I’m proud of the progress we have shown.

Generally, after reading Desktop Metal's press releases over the past few months, I get the impression that the company's main focus is on reducing its own costs.

That's good.

But the question is, where did these high costs come from in the first place?

And if they can be ambitiously reduced now, couldn't they have been more restrained in their spending from the beginning?

I don't know. I'm just asking. I have never had such great losses. I'm no expert in this...

Read Vanesa M. Listek ' take on this: www.3dprint.com

#2. Materialise reports impressive financial results

It turns out that not everyone is struggling in 3D printing. Some are doing very well, like Materialise .

Materialise also published its quarterly financial results, and things look really different here...

Total revenue increased +6.2% to 68,8 mln EUR compared to 64,8 mln EUR for the second quarter of 2023. Gross profit as a percentage of revenue was flat: 57.0% in 2024, and 57.2% for the corresponding 2023 period.

Adjusted EBIT increased to 3,9 mln EUR and adjusted EBITDA increased to 9,2 mln EUR. Net profit for the second quarter of 2024 was 3,9 mln EUR compared to -0,49 mln EUR for the corresponding 2023 period.

Revenue from Medical segment increased +12.8%, revenue from Software segment increased +1.8%, and revenue from Manufacturing segment increased +2.1%.

The relatively new CEO of Materialise, Brigitte de Vet-Veithen (who has held the position since October last year), commented:

In the second quarter of 2024 Materialise continued on its growth path, generating record-high quarterly revenue of 68,797 kEUR. This represents growth of more than 6% compared to an already strong second quarter in 2023. We are especially pleased that all three of our business segments reported increased revenue.

It's worth recalling that a week ago, I reported that Materialise acquired FEops to expand their Mimics Planner software with AI-based features. All of this strengthens the Belgian company as a leading global AM firm.

Read the full report: www.materialise.com

#1. BigRep SE enters the Frankfurt Stock Exchange

BigRep - Large-Format 3D Printers , the German manufacturer, debuted on the regulated market of the Frankfurt Stock Exchange. The debut was made possible through a SPAC merger between BigRep GmbH and SMG Technology Acceleration SE. The initial share price was EUR 11.20.

This is a very bold move. As I mentioned in the introduction, aside from the "old companies" that have been shaping the market since the 1990s, no new AM company that has gone public has achieved long-term success on the stock market. Whether it's the American stock exchange or the small Polish stock exchange (Zortrax & Sygnis)—everyone is currently struggling…

What's more, notice that most of the IPOs in recent years have been carried out through SPAC mergers. Why...? Why not the usual way? Like others?

I've been following BigRep's story since the company's inception, and I'm really rooting for their success. Maybe the German stock exchange is different, better? More friendly to AM companies?

Maybe BigRep will be the exception that proves the rule? Maybe it will be the company to break the negative trend? Maybe it will start something new, something better?

High hopes. High hopes.

Summary of the most important events in the history of the 3D printing industry published last week:

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