Seeking Alpha

ExOne (XONE)

  • Jul. 1, 2014, 12:02 PM
    • 3D Systems (DDD +14.2%), Stratasys (SSYS +7.3%), Voxeljet (VJET +27.6%), ExOne (XONE +17.9%), Proto Labs (PRLB +11.7%), Camtek (CAMT +9.1%), and Organovo (ONVO +6.5%) are all taking off as heavily-shorted tech names rally for the second day in a row.
    • 34% of 3D Systems' float was shorted as of June 13. The figure is 15% for Stratasys, 16% for Voxeljet, 32% for ExOne, 12% for Proto Labs, 5% for Camtek, and 26% for Organovo.
    • Also: 3D Systems has canceled a Pac Crest conference presentation. However, Pac Crest says this was simply because 3D didn't have enough execs to attend.
  • Jun. 30, 2014, 12:46 PM
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  • Jun. 23, 2014, 1:38 PM
    • Momentum traders are warming up to 3D printing stocks again: 3D Systems (DDD +5.4%), Stratasys (SSYS +3.9%), and Voxeljet (VJET +8%) are up sharply, though no major news has arrived to fuel a rally. ExOne (XONE +2.9%), Camtek (CAMT +5.5%), and Organovo (ONVO +2.8%) are also higher.
    • 3D Systems is at its highest levels since May, and Stratasys and Voxeljet their highest levels since April.
    • YTD performance for the group remains weak, thanks in large part to earnings disappointments and the valuation concerns that followed monster 2013 rallies. 3D Systems -40%, Stratasys -21%, Voxeljet -57%, ExOne -40%, Camtek -18%, Organovo -32%.
  • Jun. 20, 2014, 8:36 AM
    • Jefferies has downgraded ExOne (XONE) to a Hold rating from Buy. The price target is now $32.
  • Jun. 19, 2014, 8:35 AM
    • ExOne (XONE) has announced the opening of a new facility in the Lombardy region of Italy that will take place on August 1. The new space will include a machine sales and production service center to support the company's 3D printing machines and products.
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  • May. 22, 2014, 11:53 AM
    • 3D Systems (DDD +6.1%) and Stratasys (SSYS +5.1%), both hit hard by the March-May momentum stock rout, are posting big gains on a day the Nasdaq is only up 0.5%. Beaten-down ExOne (XONE +6.8%) and Voxeljet (VJET +3.1%) are also rallying.
    • Stratasys could be benefiting from a BB&T note praising MakerBot's potential. Last month, UBS cited MakerBot's strong position in the consumer/enthusiast 3D printer segment as a reason for being positive on Stratasys.
    • Voxeljet closed yesterday near its 52-week low of $12.85. Likewise, ExOne wasn't too far removed from its 52-week low of $24.34. Shares had been trading close to the low since ExOne posted a Q1 miss last week.
  • May. 15, 2014, 9:15 AM
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  • May. 14, 2014, 7:27 PM
    • Good news for 3D printer vendors: (DDD, SSYS, VJET, XONE): CAD software giant Autodesk (ADSK) plans to launch Spark, an open-source software platform it hopes will lower software costs (both 3rd-party licensing and in-house R&D) for printer makers, and also improve/ease the design process for users.
    • Bad news: To show off Spark, Autodesk plans to make a reference printer whose design "will be made publicly available to allow for further development and experimentation." CEO Carl Bass calls the printer "a midmarket industrial machine," and notes similar hardware typically costs ~$5K.
    • Autodesk's printer will rely on stereolithography (SLA), a printing process  less frequently used than fused deposition modeling (FDM) in mass-market printers, but which is gaining steam thanks to speed/reliability benefits and patent expirations. The company promises a wide range of materials will be supported.
    • Autodesk, which reports tomorrow, is undoubtedly hoping to drive further usage of its CAD software, already used in plenty of 3D printing projects. Its efforts could have implications for software vendor Materialise (recently filed for an IPO).
    • Earlier: ExOne -12.8% AH on Q1 miss, margin pressure
  • May. 14, 2014, 5:38 PM
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  • May. 14, 2014, 5:07 PM
    • Though ExOne (XONE) is reiterating guidance for 2014 revenue of $55M-$60M (consensus is at $57M), the Street's reaction to the company's big Q1 miss suggests it's highly skeptical.
    • 2014 gross margin guidance has been lowered to 40%-43% from 43%-46%. SG&A, R&D, and capex guidance (previous) has been reiterated.
    • Only 3 printers were sold in Q1, down from 12 in seasonally strong Q4 and 5 a year ago. 1 high-end S-Max printer was sold vs. 3 in Q4 and 2 a year ago.
    • One bright spot: Sales of 3D-printed products, materials, and other services rose 32% Y/Y to $4.9M.
    • Gross margin fell to 22.2% from 30.9% in Q4 and 35.8% a year ago. ExOne says development costs related to its ExCast (aims to cover each part of the additive manufacturing process for industrial clients) hurt GM.
    • SG&A spend rose 46% Y/Y to $5.2M. R&D spend rose 115%, but still only totaled $1.8M.
    • Q1 results, PR
  • May. 14, 2014, 4:56 PM
    • ExOne (XONE): Q1 EPS of -$0.38 misses by $0.25.
    • Revenue of $7.3M (-7.9% Y/Y) misses by $2.57M.
    • Shares -16%.
    • Press Release
  • May. 13, 2014, 5:35 PM
  • Apr. 29, 2014, 10:42 AM
    • 3D Systems beat Q1 revenue estimates, but posted only in-line EPS thanks to aggressive spending and a lower gross margin. The company has reiterated full-year guidance.
    • The numbers aren't enough to satisfy the Street, which has been selling of richly-valued 3D printing names early and often during March/April's momentum stock rout.
    • In addition to Stratasys (mentioned previously), ExOne (XONE -1.7%), Voxeljet (VJET -4.7%), Organavo (ONVO -5.9%), and Camtek (CAMT -1.9%) are also joining 3D Systems in selling off.
  • Apr. 10, 2014, 4:01 PM
    • Following a two-day rebound, high-beta tech stocks are seeing monumental losses once again. The Nasdaq is closing with its biggest one-day decline since 2011 (eclipsing last week's 110-point drop).
    • Security hardware/software providers were hard-hit following Imperva's (IMPV -43.8%) big warning: FEYE -11.6%. PANW -6.4%. PFPT -9.8%. FFIV -4.7%. KEYW -6.5%. FTNT -6.9%. QLYS -10.4%.
    • Other high-beta enterprise names didn't fare much better: DATA -10%. SPLK -10.3%. WDAY -9.3%. VRNS -8%. EOPN -7.9%. FIO -7.6%. BLOX -9.7%.
    • Major Internet decliners: P -11%. YELP -10.6%. ZNGA -6.6%. YY -7.3%. QIHU -9.3%. SINA -6.6%.
    • Solar: TSL -10.4%. CSIQ -10.4%. JKS -7.9%. SPWR -7.4%. JASO -6.8%. CSUN -8.2%.
    • 3D printing: DDD -10.6%. VJET -13.3%. ONVO -8.1%. XONE -7.7%. SSYS -6.7%.
  • Apr. 7, 2014, 1:00 PM
    • Punished less than high-beta Internet and enterprise software stocks last week, 3D printing firms are among today's biggest tech decliners as a take-no-prisoners selloff in momentum stocks continues. DDD -6%. SSYS -6.2%. XONE -7.3%. VJET -4.8%. CIMT -4.6%. CAMT -3.6%.
    • Printer makers are now off sharply from their 52-week highs: 3D Systems -46%, Stratasys -26%, ExOne -60%, Voxeljet -66%.
  • Mar. 31, 2014, 9:36 AM
    • Sina (SINA +3%) has been upgraded to Outperform by both Pac Crest and UBS.
    • ExOne (XONE +3.9%) has been upgraded to Buy by BB&T. Shares tumbled 11 days ago due to a Q4 miss and soft guidance.
    • Vipshop (VIPS +7.3%) has been upgraded to Buy by Goldman. Shares have corrected lately after skyrocketing in response to the company's blowout Q4 numbers and strong guidance.
    • MercadoLibre (MELI -1.1%) has been started at Sell by Citi. Forex-related concerns have been running high for a while.
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XONE vs. ETF Alternatives
Company Description
ExOne Co is a global provider of 3D printing machines & printed products to industrial customers. The Company's business consists of manufacturing & selling 3D printing machines & printing products to customers using its in-house 3D printing machines.