voxeljet AG Quarterly Investor Communication – Fourth Quarter 2023 and Full year Ended December 31, 2023

Rhea-AI Summary

voxeljet AG (VJTTY) reports a strong financial performance for the fourth quarter and full year 2023, with total revenues increasing by 32.9% and 19.7% respectively. The company achieved positive EBITDA and adjusted EBITDA for the fourth quarter. Despite a decrease in services revenues for the full year, voxeljet set new records for both quarterly and full-year revenues. An agreement with Anzu Partners to amend and expand a loan note will provide financing for operational needs and the delisting of ADSs from Nasdaq. The company expects the ADS to start trading on the OTC market following delisting.

Positive

• Positive financial performance with total revenues increasing by 32.9% for the fourth quarter and 19.7% for the full year 2023.
• Record quarterly revenue of kEUR 14,307 and full-year revenue of kEUR 33,326.
• Positive EBITDA and adjusted EBITDA for the fourth quarter.
• Agreement with Anzu Partners to amend and expand a loan note for financing operational needs and delisting of ADSs from Nasdaq.
• Expectation of ADS trading on the OTC market post-delisting.

Negative

• Services revenues decreased by 3.8% for the full year 2023.
• Order backlog value decreased from kEUR 9,975 in 2022 to kEUR 5,536 in 2023.

FRIEDBERG, Germany--(BUSINESS WIRE)-- voxeljet AG (OTCMKTS: VJTTY) (the ‘Company’, ‘voxeljet’, or ‘we’), a provider of high-speed, large-format 3D printers and on-demand parts services to industrial and commercial customers, today released selected financial information related to the fourth quarter and full year 2023. Going forward, we plan to release a quarterly investor communication to update our investors on current activities and progress.

HIGHLIGHTS 4Q2023

• Total revenues for the fourth quarter increased 32.9% to kEUR 14,307 from kEUR 10,766 in 4Q22
• Total gross profit margin for the fourth quarter increased to 34.7% from 26.5% in 4Q22
• Systems revenues for the fourth quarter increased 38.5% to kEUR 11,210 from kEUR 8,096 in 4Q22
• Services revenues for the fourth quarter increased 16.0% to kEUR 3,097 from kEUR 2,670 in 4Q22
• Positive EBITDA as well as adjusted EBITDA for the fourth quarter of 2023

HIGHLIGHTS FY2023

• Total revenues for full year 2023 increased 19.7% to kEUR 33,326 from kEUR 27,832 in FY2022
• Total gross profit margin for full year 2023 increased to 31.2% from 29.4% in FY2022
• Systems revenues for full year 2023 increased 37.6% to kEUR 21,780 from kEUR 15,828 in FY2022
• Services revenues for full year 2023 decreased 3.8% to kEUR 11,546 from kEUR 12,004 in FY2022

Dr. Ingo Ederer, Chief Executive Officer of voxeljet, commented: “Revenue for the fourth quarter 2023 increased by 33 percent and came in at 14.3 million euros- that is a new record for quarterly revenue. Full year 2023 revenue increased by 20 percent to 33.3 million euros. This number beats the top end of our full year 2023 revenue guidance and is a new record for full year revenue.”

Together with the US technology investor Anzu Partners we have agreed to amend and expand an existing loan note. We will use the net loan proceeds of approximately $5.5 million for financing the operative business and for effecting the delisting and deregistration of our ADSs. Anzu partners made it clear that they will not fund expensive external advisers related to being a public listed company in the US. As a result, we effected the delisting of the ADS from Nasdaq on 22 March 2024 and the de-registration from US SEC reporting obligations on 1 April 2024. Following the delisting, we expect the ADS to start trading at the over-the-counter (OTC) market.

ORDER BACKLOG

	Year ended December 31,
	2023	2022
Order Backlog value (kEUR)	5,536	9,975
Number of printers in order backlog	8	11

As production and delivery of our printers is generally characterized by lead times ranging between three to nine months, the conversion rate of order backlog into revenue is dependent on the equipping process for the respective 3D printer as well as the timing of customers’ requested deliveries.

Fly through our HQs in Germany: https://www.youtube.com/watch?v=BVt4h_6oWkc

View source version on businesswire.com: https://www.businesswire.com/news/home/20240410088526/en/

Johannes Pesch

Director Purchasing, Business Development & Investor Relations

Phone: +49 (821) 7483 172

Source: voxeljet AG

FAQ

What was the percentage increase in total revenues for voxeljet AG in the fourth quarter of 2023?

Total revenues for the fourth quarter increased by 32.9% to kEUR 14,307 from kEUR 10,766 in 4Q22.

What was the gross profit margin for voxeljet AG in the fourth quarter of 2023?

The total gross profit margin for the fourth quarter increased to 34.7% from 26.5% in 4Q22.

Who is the Chief Executive Officer of voxeljet AG?

Dr. Ingo Ederer is the Chief Executive Officer of voxeljet AG.

What was the revenue increase percentage for voxeljet AG in full year 2023?

Full year 2023 revenue increased by 20% to 33.3 million euros.

What was the purpose of amending and expanding the loan note with Anzu Partners?

The agreement with Anzu Partners aims to provide financing for operational needs and effecting the delisting of ADSs from Nasdaq.