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ExOne (XONE)

  • Oct. 29, 2014, 10:39 AM
    • After promising a 3D printing tech breakthrough for months, H-P (HPQ -0.2%) is finally sharing some details. The company plans to leverage a proprietary 4-step inkjet process known as Multi Jet Fusion. H-P claims the process can operate 10K nozzles at once, and allow objects to be printed more than 10x faster than conventional approaches.
    • "That means a fundamentally lower cost," says H-P SVP Stephen Nigro. He adds H-P is focusing on the high-end/industrial segment, and suggests its printers will be priced towards the low end of the segment's traditional $150K-$500K price range.
    • 3D printer makers aren't taking the news well: DDD -6.2%. SSYS -6.1%. XONE -8.1%. VJET -3.6%.
    • H-P's printers won't be widely available until 2016; some customers will get to test them next year. Industry analyst Terry Wohlers thinks H-P's offerings could potentially "put some other companies out of business," and also expand the addressable market for printing sophisticated products.
    • Forrester's Sophia Vargas is more cautious: Though calling H-P's solution well-suited for plastic printing, she notes the company hasn't yet proven it can work with metals and other materials.
    • Also unveiled by H-P: Sprout, an $1,899 desktop featuring an overhead 3D scanning camera. The camera can turn anything placed on a mat in front of the PC's monitor (objects, sketches, written material) into digital content. It ships next month.
    • Gartner recently forecast 3D printer shipments "will more than double every year between 2015 and 2018," reaching 2.3M units in 2018. Total end-user spending is expected to grow to $13.4B in 2018 from $1.6B in 2015.
  • Oct. 27, 2014, 2:39 PM
    • High-flying cybersecurity software vendor CyberArk (CYBR +10.1%) and beaten-down 3D printer vendor ExOne (XONE +9.9%) have taken off today. Neither has shown great volume: CyberArk has seen 2.7M shares change hands vs. a post-IPO average of 3.6M, and ExOne has seen 321K vs. a 3-month average of 658K.
    • CyberArk has more than doubled from its $16 September IPO price. ExOne, which had 57% of its float shorted as of Oct. 15, is still down 61% YTD.
    | 1 Comment
  • Oct. 22, 2014, 9:19 AM
    | 1 Comment
  • Oct. 1, 2014, 1:20 PM
    • Volatile and heavily-shorted 3D printing names are among the bigger decliners as the Nasdaq posts a 1.4% drop. Volumes for several names are already near or above their 3-month daily averages.
    • ExOne (XONE -10.6%) has tumbled to a fresh post-IPO low, and Voxeljet (VJET -3%) is close to its post-IPO low of $12.85. Also selling off: DDD -4.5%. SSYS -5.2%. CAMT -8.7%. ONVO -3.8%. OTCPK:AMAVF -5.9%.
  • Sep. 11, 2014, 9:32 AM
    • ExOne's (XONE) European division has begun transitioning into its newly completed headquarters in Gersthofen, Germany, which will provide expansion capacity to support the company's global growth strategy.
    • ExOne expects to complete the move from its five previously leased facilities in Augsburg in November.
    | 1 Comment
  • Aug. 29, 2014, 2:37 PM
    • Stifel's Patrick Newton has launched coverage on Stratasys (SSYS +1.3%) at Buy, and ExOne (XONE -3.1%) at Hold. 3D Systems has also been launched at Buy, but isn't moving much in response.
    • Newton calls Stratasys his "favorite idea" in 3D printing (he's not alone), and thinks the company can deliver 30%+ annual growth. He talks up Stratasys' consumer market leadership (courtesy of MakerBot), and says its lack of a metal printer offering is its "only noticeable weakness" in the industrial space.
    • He thinks ExOne can deliver strong revenue and margin growth on the back of rising services/materials sales and growing demand for its binder jetting industrial printers. But like others, Newton has his doubts ExOne can hit management's forecast for 40%-50% sales growth, given recent results.
    • Stratasys took off 3 weeks ago thanks to a Q2 beat and guidance hike. Though still down YTD, the company has easily outperformed 3D printing peers in 2014.
    | Comment!
  • Aug. 22, 2014, 1:30 PM
    • Volatile/heavily-shorted 3D printing stocks are rallying strongly on a quiet late-August trading day. 3D Systems (DDD +3%), Stratasys (SSYS +4.2%), Voxeljet (VJET +11.8%), ExOne (XONE +5.4%), and Materialise (MTLS +2.9%) are among the gainers.
    • 3D Systems' short-interest was at a 52-week high of 36.1M shares (34% of the float) on July 31. A relatively modest 15% of Stratasys' float was shorted as of July 31. The figure was 26% for Voxeljet, and a whopping 51% for ExOne.
  • Aug. 15, 2014, 8:28 AM
    • FBR Capital has initiated coverage on ExOne (NASDAQ:XONE) shares, giving an Outperform rating to the stock. The price target has been set to $45.
    • XONE +1.9% AH
    | 1 Comment
  • Aug. 14, 2014, 9:17 AM
    | Comment!
  • Aug. 13, 2014, 5:36 PM
  • Aug. 13, 2014, 4:41 PM
    • ExOne (NASDAQ:XONE) is reiterating guidance for 2014 revenue of $55M-$60M (skeptical analysts have provided a $54.9M consensus). But it's lowering its full-year gross margin guidance to 32%-36% from a prior 40%-43%, which itself was lower than an original 43%-46%. R&D spend guidance has been hiked by $1M to $7M-$8M.
    • 6 printers were sold in Q2, up from 3 in Q1 and 4 a year ago. 3 high-end S-Max printers were sold vs. 1 in Q1 and 4 a year ago.
    • Printer sales grew 63% Y/Y to $6M. Sales of 3D-printed products, materials, and other services rose 37% to $5.2M.
    • Gross margin was 22.3%, nearly flat Q/Q but down from 45.3% a year ago. GAAP SG&A spend rose 35% Y/Y to $5.3M, and R&A spend 50% to $1.9M.
    • Q2 results, PR
    | Comment!
  • Aug. 13, 2014, 4:11 PM
    • ExOne (NASDAQ:XONE): Q2 EPS of -$0.32 misses by $0.18.
    • Revenue of $11.2M (+21.3% Y/Y) misses by $0.91M.
    • Shares -8.5%.
    • Press Release
    | Comment!
  • Aug. 12, 2014, 5:35 PM
  • Aug. 7, 2014, 9:22 AM
    • Following its Q2 beat and recent acquisitions, Stratasys (NASDAQ:SSYS) now expects 2014 revenue of $750M-$770M (30%+ organic growth) and EPS of $2.25-$2.35. That's above prior guidance of $660M-$680M (25%+ organic growth) and $2.15-$2.25, and a consensus of $685.1M and $2.20.
    • Long-term, Stratasys is now aiming for at least 25% annual organic growth, up from a prior goal of at least 20%.
    • Product revenue +70% Y/Y to $154.1M, services +50% to $24.4M. MakerBot sales +63% Q/Q to $33.6M.
    • Gross margin rose 70 bps Y/Y to 59.8%. SG&A spend +89% to $60.3M, R&D +85% to $17.6M.
    • Up in sympathy: DDD +2.9%. XONE +6.3%. VJET +6.5%. 3D printing stocks sold off last week after 3D Systems posted a Q2 miss.
    • Q2 results, PR
  • Jul. 31, 2014, 9:24 AM
    • After accounting for the Simbionix acquisition and other factors, 3D Systems (NYSE:DDD) is hiking its 2014 revenue guidance by $5M to $700M-$740M (consensus is at $713.8M). EPS guidance of $0.73-$0.85 is reiterated (consensus is at $0.81).
    • Q2 results were hurt by a 24% Q/Q drop in consumer revenue to $7.4M, something 3D blames on "delayed new products availability." Competition and a slower-than-expected pace to consumer 3D printing adoption might also be factors.
    • Also hurting: Gross margin fell 370 bps Q/Q and 400 bps Y/Y. 3D attributes the GM drop to "the transitional effects of concentrated new product launches as well as the absorption of legacy products obsolescence and manufacturing expansion costs."
    • Total product revenue (both printers and materials) +20% Y/Y to $100M, services +38% to $51.5M. Materials revenue +30%, printer units +126% (mix shift towards cheaper printers), healthcare revenue +46% to $27.5M.
    • Spenging remains aggressive: GAAP SG&A spend +39% to $50.3M, R&D +84% to $17.7M.
    • Peers are falling in sympathy: Stratasys (NASDAQ:SSYS) -4.1%, ExOne (NASDAQ:XONE) -7.2%, Voxeljet (NYSE:VJET) -9.6%.
    • Q2 results, PR
  • Jul. 29, 2014, 3:45 PM
    • RBC predicts 3D Systems (DDD +5.6%) will post in-line Q2 results when it reports on Thursday morning, but also hike its 2H14 guidance. The firm expects Stratasys (SSYS +1.6%) to post a slight Q2 beat when it reports on Aug. 7, and also considers a full-year revenue guidance hike possible.
    • ExOne (XONE +2.3%) and Voxeljet (VJET +3.8%) are heading in the same direction as 3D and Stratasys, as is often their custom. 3D, ExOne, and Voxeljet remain over 40% below their January highs.
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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.