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ExOne (XONE)

  • 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
  • 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
  • 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!
  • Mon, Mar. 16, 5:40 PM
    • Though it missed Q4 estimates, ExOne (NASDAQ:XONE) is guiding for 2015 revenue of $58M-$62M (+32%-50% Y/Y), in-line with a $61.8M consensus. However, given the company's guidance history, and the fact that 70% of the year's revenue is expected in 2H15, investors might be taking the outlook with a grain of salt.
    • 3D printer revenue rose 46% Y/Y in Q4 to $10.2M; everything else (materials, services, etc.) rose 51% to $5.6M. 11 machines were sold (inc. 6 high-end S-Max systems and 1 S-Max+ system) compared with 8 in Q3 and 12 a year ago.
    • Gross margin fell to 24.5% from 25.8% in Q3 and 30.9% a year ago. SG&A spend rose 82% Y/Y to $9M, and R&D spend 27% to $2.2M.
    • 2015 GM guidance is at 36%-40%. SG&A spend is expected to fall to $21M-$23M from 2014's $24M (exc. $500K-$1M in one-time costs), and R&D spend fall to $6.5M-$7.5M from $8.2M. Capex is expected to total $5M-$7M.
    • Shares have fallen to $13.50 AH, leaving them just $0.10 above their 52-week low.
    • Q4 results, PR
    | Mon, Mar. 16, 5:40 PM | 6 Comments
  • Mon, Mar. 16, 5:20 PM
    • ExOne (NASDAQ:XONE): Q4 EPS of -$0.50 misses by $0.45.
    • Revenue of $15.76M (+47.3% Y/Y) misses by $2.78M.
    • Shares +1.3% AH.
    • Press Release
    | Mon, Mar. 16, 5:20 PM | 1 Comment
  • Sun, Mar. 15, 5:35 PM
  • Thu, Feb. 26, 9:51 AM
    • Though it missed Q4 estimates, 3D Systems (DDD +1.5%) is guiding for 2015 revenue of $850M-$900M and EPS of $0.90-$1.10, in-line with a consensus of $873.2M and $1.02.
    • Also: Capex is expected to remain at 3% of revenue, and M&A activity (very aggressive in recent years) is expected to "moderate" as 3D "decisively shifts its focus towards leveraging recently acquired assets to generate greater profitability progressively throughout 2015."
    • 3D does note its sales are pressured by "delayed new products and gaps in its North American channel performance," and that it "may take several periods" to address the issue. It adds forex is expected to be a headwind (as it is for many other companies), and that the discontinuation of legacy products and "pruning" of lower-margin services will also take a toll. A lot of this was advertised by the company's October warning.
    • Product revenue rose 16% Y/Y in Q4 to $129.1M, and services revenue 33% to $58.3M. Metals printing and healthcare were strong points, respectively rising 178% and 96%. Consumer revenue rose 68% in spite of recent challenges.
    • Gross margin was 47.9%, roughly flat Q/Q but down from 52.1% a year ago. Operating expenses rose 38% Y/Y to $85.5M (compares with 21% revenue growth).
    • ExOne (XONE +2.8%) is following 3D Systems higher. Expectations for 3D printer makers are a lot lower than they were a few months ago.
    • Q4 results, PR
    | Thu, Feb. 26, 9:51 AM | 2 Comments
  • Mon, Feb. 2, 4:39 PM
    • Stratasys (NASDAQ:SSYS) now expects 2014 revenue of $748M-$750M (31% organic growth) and EPS of $1.97-$2.03, below prior guidance of $750M-$770M and $2.21-$2.31 and a consensus of $763.6M and $2.25.
    • The company is also guiding for 2015 revenue of $940M-$960M (25%-28% growth) and EPS of $2.07-$2.24, below a consensus of $1.01B and $2.91. It "plans to invest an additional 2% in operating expenses out of anticipated revenues in 2015 and future periods to help enable growth, maintain market leadership and meet future opportunities."
    • Q4 revenue is estimated to have risen 38%  Y/Y, below a consensus for 48% growth. Q4 organic growth is pegged at 25%.
    • A $100M-$110M goodwill impairment charge is expected to be taken on the MakerBot acquisition. MakerBot revenue (12% of total revenue) only rose 7% Y/Y in Q4, well below the growth seen in prior quarters.
    • Stratasys is reiterating long-term goals for at least 25% organic revenue growth, an 18%-23% op. margin, and a 16%-21% net margin. CC at 8:30AM ET tomorrow.
    • 3D Systems (NYSE:DDD) is also off sharply AH. ExOne (NASDAQ:XONE) is down 2.3%.
    | Mon, Feb. 2, 4:39 PM | 20 Comments
  • Nov. 12, 2014, 4:30 PM
    • ExOne (NASDAQ:XONE) now expects 2014 revenue of $45M-$50M, below prior guidance of $55M-$60M and a $54.2M consensus.
    • CEO Kent Rockwell: "We continue to struggle with predicting timing of our machine sales and therefore we are lowering our expectations for 2014 revenue based on clearer visibility for the remainder of the year."
    • 8 printers were sold in Q3, up from 6 in Q2 but flat Y/Y. Only one high-end S-Max printer was sold, down from 3 in Q2 and 4 a year ago.
    • Gross margin was 25.8% vs. 22.3% in Q2 and 45.2% a year ago. GAAP R&D spend rose 76% Y/Y to $2.3M, and SG&A spend 24% to $4.6M.
    • Bigger rival 3D Systems (NYSE:DDD) has slipped in response to ExOne's numbers.
    • Q3 results, PR
    | Nov. 12, 2014, 4:30 PM | 5 Comments
  • Nov. 12, 2014, 4:08 PM
    • ExOne (NASDAQ:XONE): Q3 EPS of -$0.31 misses by $0.18.
    • Revenue of $9.65M (-17.0% Y/Y) misses by $5.65M.
    • Shares -7.8%.
    • Press Release
    | Nov. 12, 2014, 4:08 PM | 2 Comments
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.