Seeking Alpha

ExOne (XONE)

  • Mon, Oct. 5, 3:14 PM
    • The Nasdaq is up 1.5% as equity markets display a renewed appetite for risk, and a large number of tech companies are posting 5%+ gains.
    • Major gainers include 3D printer makers 3D Systems (DDD +6.8%), Stratasys (SSYS +7.3%), and ExOne (XONE +10.4%), solar microinverter maker Enphase (ENPH +10.7%) and rival SolarEdge (SEDG +6.1%), car-buying site TrueCar (TRUE +10%), defense IT firm Kratos (KTOS +9.5%), online ad software firm Marin Software (MRIN +8.3%), and CDN owner Limelight (LLNW +8.9%).
    • Others: IP licensing firm Acacia (ACTG +7.2%), application delivery controller/security hardware vendor A10 Networks (ATEN +8.3%), travel deal site Travelzoo (TZOO +7.5%), home automation tech provider Control4 (CTRL +8.5%), M2M/telematics hardware and services firm CalAmp (CAMP +6.1%), online video hosting platform Brightcove (BCOV +6%).
    • 3D printing stocks, hit hard in 2014 and 2015, are reversing the big losses seen last Tuesday. Travelzoo's gains follow last Thursday's CEO change announcement. CalAmp is now up 24% since beating FQ2 estimates and providing in-line FQ3 guidance on Oct. 1.
    • Previously covered: Twitter, Cisco, Rackspace, Micron, SunEdison, Vivint, Juniper, CEVA, Knowles, Yandex/Qiwi
    | Mon, Oct. 5, 3:14 PM | 4 Comments
  • Mon, Aug. 24, 12:45 PM
    • Off nearly 9% in early trading, the Nasdaq is now down just 0.4%. Along the way, many tech names have not only erased their early losses, but are now posting major gains.
    • Standouts include Micron (MU +5.3%), Skyworks (SWKS +6.7%), GoPro (GPRO +4.1%), Cree (CREE +6.7%), SunPower (SPWR +6.1%), Mobileye (MBLY +5.1%), Amkor (AMKR +9.1%), ExOne (XONE +4.7%), NXP (NXPI +3.7%), Yelp (YELP +4.3%), Cirrus Logic (CRUS +4.4%), and GoDaddy (GDDY +4.1%).
    • See also: SolarCity, SunEdison
    • Update (4:08PM ET): The Nasdaq went south again in afternoon trading, closeng down 3.8%. Skyworks, Cree, SunPower, Amkor, Mobileye, ExOne, and GoDaddy managed to stay in the green, while Micron, NXP, Yelp, GoPro, and Cirrus closed with modest losses.
    | Mon, Aug. 24, 12:45 PM | 47 Comments
  • Mon, Aug. 10, 5:22 PM
    • After rising 4.8% in regular trading amid a broader 3D printing rally, ExOne (NASDAQ:XONE) has slumped to $8.50 in AH trading following a sizable Q2 miss. 3D printer sales fell 60% Y/Y to $2.4M, while other revenue (materials/services) rose 17% to $6.1M.
    • In spite of the miss, ExOne is maintaining full-year revenue guidance of $58M-$66M; the pre-earnings consensus is only at $58.1M. Last year, ExOne maintained its full-year sales guidance in August in the face of analyst skepticism before cutting it in November.
    • 2015 gross margin guidance has been cut to 30%-34% from 36%-40%. Q2 gross margin was 13%, improved from Q1's 0.0% (that's not a typo) but down from 22.3% a year ago. ExOne blames a mix shift away from printer sales, along with "higher fixed costs and inefficiencies."
    • 7 printers were sold in Q2, up from 6 a year ago. However, no high-end S-Max machines were among them. 5 Innovent machines (smaller, focused on R&D projects) were sold.
    • GAAP operating expenses rose 12% Y/Y to $8M - SG&A spend totaled $6.3M, and R&D $1.7M. ExOne ended Q2 with $24.8M in cash (down from $36.2M at the end of 2014), and $2M in debt.
    • Q2 results, PR
    | Mon, Aug. 10, 5:22 PM | 3 Comments
  • Mon, Aug. 10, 4:15 PM
    • ExOne (NASDAQ:XONE): Q2 EPS of -$0.48 misses by $0.22.
    • Revenue of $8.5M (-24.1% Y/Y) misses by $2.62M.
    • Shares -2.6%.
    • Press Release
    | Mon, Aug. 10, 4:15 PM | 5 Comments
  • Mon, Aug. 10, 1:52 PM
    • Up strongly last Thursday following 3D Systems' Q2 miss, 3D printer makers are among the biggest tech gainers on a day the Nasdaq is up 1.2%. 3D Systems (DDD +8.8%), Stratasys (SSYS +8.3%), ExOne (XONE +8.5%), and Voxeljet (VJET +7.3%) are each up over 7%.
    • Volume for the group has been above-average, but not by a huge amount. With massive portions of each company's float still shorted, profit-taking by shorts is likely helping out today.
    • On Friday, Piper's Troy Jensen followed up his July 31 upgrade of Stratasys by upgrading 3D Systems to Neutral. Jensen reported industry checks pointed to improvements at channel partners, noted 3D mentioned in its earnings call (transcript) industrial clients began resuming purchases in Q2, and argued the metal 3D printing market is reaching an inflection point.
    • YTD performances: DDD -55%. SSYS -61%. XONE -45%. VJET -11%.
    | Mon, Aug. 10, 1:52 PM | 3 Comments
  • Sun, Aug. 9, 5:35 PM
  • Thu, Aug. 6, 10:49 AM
    • After opening moderately higher in the wake of its Q2 miss, 3D Systems (NYSE:DDD) has surged above $14. Equally-beaten-down peers Stratasys (SSYS +9.1%), ExOne (XONE +6.5%), and Voxeljet (VJET +6.5%) are also up strongly.
    • 3D is still down 57% YTD, and over 85% from its early-2014 highs. With 36.4M shares (34% of the float) shorted as of July 15, profit-taking by shorts could be fueling today's gains.
    • 3D's Q2 results, details
    | Thu, Aug. 6, 10:49 AM | 7 Comments
  • Mon, Jul. 20, 12:01 PM
    • Though the Nasdaq is up fractionally, 3D Systems (DDD -6.5%) and Stratasys (SSYS -6.7%) have tumbled to multi-year lows yet again. ExOne (XONE -4.4%) and Voxeljet (VJET -2.9%) are also off.
    • Stratasys reports on July 30, and 3D Systems on August 6. Stratasys is now down 62% YTD; 3D is down 55%.
    | Mon, Jul. 20, 12:01 PM | 25 Comments
  • Fri, Jul. 10, 10:52 AM
    • Oppenheimer: "ExOne (XONE +1.9%) is a small stock in a loathed industry with a string of disappointments ... All that may be masking stellar potential for a dramatic turnaround over the next couple quarters."
    • The firm argues ExOne's "extreme operating leverage" could yield major bottom-line improvement over the next 6-7 quarters, and that its salesforce (suffering through growing pains) could begin closing more deals within the 3D printer maker's pipeline in 2016.
    • ExOne is currently down 42% YTD, and 88% from an Aug. 2013 high of $78.80. Many 3D printing peers can relate.
    | Fri, Jul. 10, 10:52 AM | 5 Comments
  • Mon, Jul. 6, 2:58 PM
    • 3D Systems (DDD -3.8%), ExOne (XONE -4.8%), Voxeljet (VJET -9.3%), and Camtek (CAMT -4.7%) have each made new 52-week lows amid a 0.8% drop for the Nasdaq. ExOne and Voxeljet have also made new post-IPO lows.
    • 3D Systems' decline has been on relatively light volume - 1.22M shares vs. a 3-month daily average of 2.64M. Voxeljet and Camtek have respectively seen 289K and 182K shares traded, well above 3-month averages of 135K and 90K. ExOne has seen 167K shares traded vs. a 3-montha verage of 153K.
    • YTD performances: DDD -44%. XONE -40%. VJET -25%. CAMT -12%.
    | Mon, Jul. 6, 2:58 PM | 3 Comments
  • Tue, Jun. 23, 3:40 PM
    • In addition to 3D Systems (up 6% with the help of fresh GE-related M&A chatter) printer makers Stratasys (SSYS +2.6%), ExOne (XONE +6%), Voxeljet (VJET +4.5%), and Arcam (OTCPK:AMAVF +2.4%) have posted healthy gains, and so has 3D measurement/scanning hardware maker Perceptron (PRCP +4.4%). The Nasdaq is up 0.1%.
    • Shorts, many of whom undoubtedly have large paper profits, might be cashing in: Stratasys, ExOne, and Voxeljet respectively had 22%, 33%, and 12% of their floats shorted as of May 29.
    | Tue, Jun. 23, 3:40 PM | Comment!
  • Thu, Jun. 11, 4:57 PM
    • ExOne (NASDAQ:XONE) is down 9.2% in postmarket trade after posting its delayed Q1 report where it missed on top and bottom lines amid negative effects from exchange rates.
    • The company had delayed its Q1 report, originally due May 11, which it attributed to problems with implementing an ERP system set to improve financial controls.
    • The quarter was "unfavorably impacted by the mix of sales including the level of machine sales in the quarter, compounded by higher fixed costs and inefficiencies associated with the Company's new and expanded production facilities" -- which it said included implementation expense around the ERP implementation.
    • Revenue by line: 3D printing machines, $1.1M (down 54%); non-machine, $5.7M (up 16.3%). Of total revenues, non-machine now makes up 84%.
    • It's reaffirming full-year expectations, with revenue expected to grow 32-50%, to $58M-$66M (on the high side of an expected $59.8M), gross margin between 36-40% and capex of $5M-$7M.
    • Conference call tomorrow at 8:30 a.m.
    • Press release
    | Thu, Jun. 11, 4:57 PM | 6 Comments
  • Thu, Jun. 11, 4:09 PM
    • ExOne (NASDAQ:XONE): FQ1 EPS of -$0.53 misses by $0.24.
    • Revenue of $6.79M (-6.7% Y/Y) misses by $1.33M.
    • Shares -1.98%.
    • Press Release
    | Thu, Jun. 11, 4:09 PM | 5 Comments
  • Wed, Jun. 10, 5:35 PM
  • Mon, May 11, 5:21 PM
    • Citing "unforeseen difficulties" in the implementation of an ERP system meant to improve the company's financial controls, ExOne (NASDAQ:XONE) says it won't be able to release Q1 results and file its Q1 10-Q by a May 11 due date.
    • The Q1 report and 10-Q are now expected in early June. ExOne is reiterating the full-year guidance it provided on March 16.
    • In late March, ExOne disclosed (via its 2014 10-K) it has ""concluded that there are material weaknesses in the design and operating effectiveness of our internal control over financial reporting as defined in SEC Regulation S-X."
    | Mon, May 11, 5:21 PM | 2 Comments
  • Wed, May 6, 3:31 PM
    • Today's notable tech gainers include LED/chip equipment maker Aixtron (AIXG +6.7%), distributed power system/software firm PowerSecure (POWR +7.2%), cloud customer support software vendor Zendesk (ZEN +5%), and chip packaging IP firm Tessera (TSRA +4.9%).
    • Notable decliners include LED giant Cree (CREE -4.2%), 3D printer maker ExOne (XONE -5.6%), big data/analytics software provider Hortonworks (HDP -5.7%), health site owner Everyday Health (EVDY -7.7%), and IP licensing firm WiLAN (WILN -6%). The Nasdaq is down 0.7%.
    • PowerSecure is up after beating Q1 estimates on the back of major increases in Distributed Generation and Solar Energy segment sales. Zendesk is up after posting a Q1 beat and guiding for full-year revenue of $192M-$195M (above a $189.6M consensus). Tessera is rallying thanks to a Q1 beat and strong Q2 guidance (revenue of $62M-$64M and EPS of $0.47-$0.50 vs. a consensus of $$57.3M and $0.40).
    • Cree is adding to the losses seen two weeks ago after it posted mixed results and light guidance. ExOne's drop comes after larger rival 3D Systems declined to provide guidance with its Q1 results.  Everyday has been downgraded to Hold by Stifel. WiLAN is adding to last week's post-earnings losses.
    • Previously covered: Zulily, Groupon, Axcelis, QuinStreet, Skullcandy, Millennial Media, LendingClub, TechTarget, Anadigics, Zagg, Cray, Enphase,, Jive Software
    | Wed, May 6, 3:31 PM | Comment!
XONE vs. ETF Alternatives
Company Description
ExOne Cois engaged in providing 3D printing machines & 3D printed and other products, materials and services to industrial customers. Itmanufactures and sells 3D printing machines and printing products to specification for its customers.