Voxeljet: Ongoing Cash Usage Results In Additional Dilution

Sep. 29, 2022 3:51 PM ETvoxeljet AG (VJET)DDD, SSYS1 Comment
Henrik Alex profile picture
Henrik Alex


  • Company announces another capital raise as the business continues to consume substantial amounts of cash.
  • Inability to restructure debt obligations resulted in the requirement to sell the company's corporate headquarters in Germany.
  • Following the debt repayments, Voxeljet will be debt-free but new lease obligations for the corporate headquarters are likely to put additional pressure on operating expenses and cash flows.
  • Recent Q2 results showed signs of improvement, but ongoing cash outflows require the company to raise additional capital on a more regular basis.
  • Investors should remain on the sidelines until the company moves closer to cash-flow break even.
Work 3d printer close-up. Printing 3D printer Object. Plastic Wire Filament.


Last month, small Germany-based provider of large-format 3D printers and on-demand parts services voxeljet AG (NASDAQ:VJET) or "Voxeljet" reported improved Q2 results with revenues, margins and backlog all growing on a year-over-year basis:

Financial Highlights

Company Presentation

On the conference call

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Henrik Alex profile picture
I am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. My historical focus has been mostly on tech stocks but over the past couple of years I have also started broad coverage of the offshore drilling and supply industry as well as the shipping industry in general (tankers, containers, drybulk). In addition, I am having a close eye on the still nascent fuel cell industry.I am located in Germany and have worked quite some time as an auditor for PricewaterhouseCoopers before becoming a daytrader almost 20 years ago. During this time, I managed to successfully maneuver the burst of the dotcom bubble and the aftermath of the world trade center attacks as well as the subprime crisis.Despite not being a native speaker, I always try to deliver high quality research at no charge to followers and the entire Seeking Alpha community.

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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