I have to admit that it took some time for me to wrap my head round the concept of "3D Printing." "Additive manufacturing" worked better for me.
The ExOne Company has filed a registration statement:
Our Company
We are a global provider of three-dimensional (“3D”) printing machines and printed products to industrial customers. Our business primarily consists of manufacturing and selling 3D printing machines and printing products to specification for our customers using our in-house 3D printing machines. We offer pre-production collaboration and print products for customers through our Production Service Centers (“PSCs”), which are located in the United States, Germany and Japan. We build 3D printing machines at our facilities in the United States and Germany. We also supply the associated products, including consumables and replacement parts, and services, including training and technical support, necessary for purchasers of our machines to print products. We believe that our ability to print in a variety of industrial materials, as well as our industry-leading printing capacity (as measured by build box size and printhead speed), uniquely position us to serve the needs of industrial customers.
Our 3D printing machines use our technology, powdered materials, chemical binding agents and integrated software to print 3D products directly from computer models by repeatedly depositing very thin layers of powdered materials and selectively placing chemical binding agents to form the finished product. One of our key industry advantages is that our machines are able to print products in materials that are desired by industrial customers. Currently, our 3D printing machines are able to manufacture casting molds and cores from specialty silica sand and ceramics, which are the traditional materials for these casting products. We are capable of printing in silica sand, ceramics, stainless steel, bronze and glass, and we are in varying stages of qualifying additional industrial materials for printing, such as titanium, tungsten carbide, aluminum and magnesium.
We believe that we are a leader in providing 3D printing machines, 3D printed products and related services to industrial customers in the aerospace, automotive, heavy equipment, energy/oil/gas and other industries. Our customers in the aerospace industry include Magellan Aerospace Corporation, Boeing and Mitchell Aerospace Inc. Our customers in the automotive industry include Ford Motor Company, Bavarian Motor Works (“BMW”) and Tesla Motors, Inc. Our customers in the heavy equipment industry include Caterpillar, Inc., Deere & Company, and Bosch Rexroth and our customers in the energy/oil/gas industry include ITT Corp. and the KSB Group.
Our business began as the advanced manufacturing business of Extrude Hone Corp., which manufactured its first 3D printing machine in 2003 using licensed technology developed by researchers at the Massachusetts Institute of Technology (“MIT”). In 2007, we were acquired by S. Kent Rockwell through his wholly-owned company Rockwell Forest Products, Inc. (“RFP”). Since 2007, when he purchased our company for approximately $7.2 million, Mr. Rockwell (through RFP and affiliated entities) and our other owners have funded our company and related entities, through December 15, 2012, with $40.7 million in either equity or debt. The primary goals of these investments were to: increase the scale, speed and efficiency of our 3D printing machines; expand the range of qualified materials in which our machines can print; and position us to compete in the rapidly evolving 3D printing market. As a result, we have significantly reduced our unit cost of production over time, thereby expanding the potential market for our machines and products.
Our revenues for the year ended December 31, 2011 were $15.3 million, as compared to $13.4 million for the prior year period, and for the first nine months of 2012 were $15.9 million, as compared to $12.6 million for the same period in 2011. Our EBITDA was ($8.9) million for the first nine months of 2012, as compared to ($2.3) million for the same period in 2011. Our EBITDA for the nine months ended September 30, 2012 includes a non-cash equity based compensation expense of $7.7 million.
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