Revenue Performance - Revenues for the fourth quarter of 2022 decreased by 1.1% to kEUR 10,766 compared to kEUR 10,885 in the fourth quarter of 2021[3] - Systems segment revenues decreased by 4.4% to kEUR 8,096 in Q4 2022 from kEUR 8,470 in Q4 2021, representing 75.2% of total revenues[4] - Services segment revenues increased by 10.6% to kEUR 2,670 in Q4 2022 from kEUR 2,415 in Q4 2021, driven by higher contributions from voxeljet America[5] - Revenues for the full year 2022 increased by 12.1% to kEUR 27,832 compared to kEUR 24,826 in 2021[19] - Systems revenues for the full year 2022 were kEUR 15,828, slightly up from kEUR 15,728 in 2021, despite a less favorable product mix[20] - Services revenues for the full year 2022 increased to kEUR 12,004 from kEUR 9,098 in the prior year, driven by strong demand across regions[21] - Revenue for the first quarter of 2023 is expected to be between kEUR 5,750 and kEUR 6,000, with full year 2023 revenue guidance between kEUR 27,500 and kEUR 32,500[6] - Total revenues for the year ended December 31, 2022, increased to €27,832 thousand, up from €24,826 thousand in 2021, representing a growth of 12.1%[52] Profitability and Loss - Total gross profit margin for Q4 2022 decreased from 32.7% to 26.5%[6] - Net loss for Q4 2022 was kEUR 155 or EUR 0.01 per share, compared to a net profit of kEUR 1,047 or EUR 0.15 per share in Q4 2021[18] - Operating loss for the year ended December 31, 2022 was kEUR 5,382, an improvement from an operating loss of kEUR 8,844 in 2021, driven by a positive net impact of kEUR 5,504 from changes in operating expenses and income[31] - Net loss for the year ended December 31, 2022 was kEUR 11,409, or EUR 1.53 per share, compared to a net loss of kEUR 10,586, or EUR 1.68 per share in the prior year[35] - Gross profit margin for total revenues decreased to 29.4% in 2022 from 32.0% in 2021, indicating a decline in profitability[52] - The company reported a loss for the period of €11,409 thousand in 2022, compared to a loss of €10,586 thousand in 2021, indicating ongoing financial challenges[50] Expenses - Research and development expenses increased to kEUR 2,098 in Q4 2022 from kEUR 1,377 in Q4 2021, reflecting higher material and labor costs[12] - Selling expenses for the year increased to kEUR 7,975 in 2022 from kEUR 6,420 in 2021, while research and development expenses rose to kEUR 6,865 from kEUR 6,140[48] - The cost of sales for total revenues increased to €19,646 thousand in 2022 from €16,876 thousand in 2021, reflecting higher operational costs[52] - The company incurred interest paid of €3,121 thousand in 2022, a significant increase from €263 thousand in 2021, indicating higher financing costs[50] Cash Flow and Financial Position - Cash and cash equivalents as of December 31, 2022 were kEUR 12,119, an increase from kEUR 7,027 in 2021[47] - Cash flow from operating activities resulted in a loss of €9,184 thousand for the year ended December 31, 2022, compared to a loss of €6,537 thousand in 2021[50] - Cash flow from investing activities showed a significant increase to €37,905 thousand in 2022, compared to a cash outflow of €11,442 thousand in 2021[50] - The company reported a net increase in cash and cash equivalents of €5,018 thousand for the year, up from €1,540 thousand in the previous year[50] - The financial result for the year ended December 31, 2022 was negative kEUR 6,129, compared to negative kEUR 1,677 in 2021, primarily due to write-downs related to financial assets[32] Future Guidance and Backlog - Revenue guidance for the first quarter of 2023 is projected to be in the range of kEUR 5,750 to kEUR 6,000[36] - Financial guidance for the full year ended December 31, 2023 includes expected revenue between kEUR 27,500 and kEUR 32,500, with a gross margin above 31.5%[40] - Total backlog of 3D printer orders at December 31, 2022 was kEUR 9,975, representing eleven 3D printers, compared to kEUR 3,880 for seven printers at the end of 2021[37] - Capital expenditures for 2023 are projected to be in the range of kEUR 3,750 to kEUR 4,250, focusing on ongoing investments in global subsidiaries[40]
voxeljet(VJET) - 2023 Q1 - Quarterly Report