The ExOne Company Reports 2018 First Quarter Results

Consolidated revenue for the 2018 first quarter grew 9% over the prior-year first quarter. Excluding $0.3 million of revenue attributable to a product line that the Company has exited, the comparable revenue grew 13% on a non-GAAP basis.

Machine revenue was up 6% to $4.5 million. Six machines were sold in the 2018 first quarter as compared with five in the 2017 first quarter.

Non-machine revenue (3D printed and other products, materials and services) was up 12% to $7.4 million in the first quarter of 2018, compared with the prior year. This increase was principally driven by higher revenue in the Company’s direct production service center operations and, to a lesser extent, increased consumable material and service revenue based on a growing installed base. These increases were offset with the absence of revenue from the 2017 exit of a specialty machining operation and lower revenue on indirect service centers due principally to machine sales to previous service center customers. Excluding $0.3 million of revenue attributable to the exited specialty machining product line, the comparable non-machine revenue grew by 17% on a non-GAAP basis.

Given the long sales cycle and significance of a machine’s average selling price relative to total revenue, fluctuations in machine-sale revenue vary from quarter to quarter. ExOne does not believe that such quarter-to-quarter fluctuations are necessarily indicative of larger trends.

First Quarter Operations – Improving Gross Margin, Accelerated Investments

($ in millions,

except per-share amounts)


Q1 2018


Q1 2017



  % Change
Gross profit $2.6 $1.6 $1.0 63%
Gross margin 22.0% 14.7%
Operating loss ($6.4) ($6.7) $0.3 4%
Net loss ($6.4) ($6.8) $0.4 6%
Diluted EPS ($0.40) ($0.42) $0.02 5%

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