From GlobeNewswire: 2024-03-28 16:29:00

Shapeways Holdings, Inc. announced fourth-quarter and year-end 2023 results with a 23% increase in gross profit compared to the prior year. The expansion of gross margins to 46% was attributed to greater enterprise and software sales. The company is exploring strategic alternatives to enhance shareholder value amidst evolving market challenges.

A key focus for Shapeways has been on enterprise manufacturing growth, particularly in automotive, medical, and robotics industries. Strategic efforts have led to a 29% increase in revenue from top customers in 2023. The company is expanding into the global CNC market and growing its software tools and services offerings to meet customer needs for digital manufacturing solutions.

Despite encouraging momentum, Shapeways implemented cost-reduction initiatives in Q4 2023, reducing its global workforce by about 15%. The Company is actively exploring strategic alternatives, including the potential sale of assets, to maximize shareholder value. Financially, revenue in Q4 2023 was $9.5 million, with a gross margin of 46% and a net loss of $(10.5) million.

For the first quarter of 2024, Shapeways projects revenues between $8.3 million to $8.6 million. The company will host a conference call and webcast to discuss its results and outlook. Shapeways is a global leader in digital manufacturing, providing additive and traditional technologies alongside proprietary software solutions for industrial applications. With manufacturing facilities in the U.S. and the Netherlands, Shapeways serves customers worldwide in various sectors.



Read more at GlobeNewswire:: Shapeways Reports Fourth Quarter and Full Year 2023