Financial Performance - Total revenues for Q3 2023 reached €6,167 thousand, up from €5,735 thousand in Q3 2022, reflecting a growth of approximately 7.5%[10] - Gross profit margin for Q3 2023 was 26.8%, slightly improved from 28.7% in Q3 2022, with gross profit amounting to €1,652 thousand[10] - For the nine months ended September 30, 2023, net loss was €(10,067) thousand, a decrease in loss compared to €(11,254) thousand for the same period in 2022[10] - Revenue from the EMEA region for Q3 2023 was €3,369 thousand, an increase from €2,578 thousand in Q3 2022, showing a growth of approximately 30.7%[11] - Operating loss for the nine months ended September 30, 2023, was €(8,576) thousand, compared to €(5,615) thousand in the same period of 2022, indicating a worsening operational performance[10] - The company reported a gross profit of €5,422 thousand for the nine months ended September 30, 2023, compared to €5,328 thousand in the same period of 2022, indicating stable performance[10] Financial Position - As of September 30, 2023, total inventories increased to €13,736 thousand from €11,136 thousand as of December 31, 2022, representing a growth of 23.4%[93] - The net property, plant, and equipment decreased to €16,843 thousand as of September 30, 2023, down from €17,799 thousand as of December 31, 2022, a decline of 5.4%[94] - Total liabilities decreased to €25,072 thousand as of September 30, 2023, from €22,587 thousand as of December 31, 2022, an increase of 11.0%[98] - The total carrying amount of financial assets as of September 30, 2023, was €14,614 thousand, with cash and cash equivalents amounting to €4,968 thousand[97] - The total carrying amount of financial liabilities as of September 30, 2023, was €25,072 thousand, with current liabilities at €5,195 thousand[97] - The company’s total other liabilities decreased to €2,342 thousand as of September 30, 2023, from €2,653 thousand as of December 31, 2022, a reduction of 11.7%[95] Financial Instruments - The Anzu Note issued in January 2023 has a principal amount of USD 3.2 million (€3.0 million) and matures on January 3, 2028, with a 3% annual interest rate[100] - The fair value of the embedded derivative financial instruments from the Anzu Note was assessed at €869 thousand as of September 30, 2023, reflecting an addition of €535 thousand since December 31, 2022[104] - The company recognized a finance expense of €325 thousand for the nine months ended September 30, 2023, related to changes in the fair value of derivative financial instruments[104] - As of September 30, 2023, the company was in compliance with all covenants associated with its financial instruments[107] Finance Results - Financial result for Q3 2023 shows a finance expense of €(425) thousand, significantly reduced from €(6,175) thousand in Q3 2022, indicating improved financial management[8] - Finance income for Q3 2023 was €44 thousand, a notable increase from €8 thousand in Q3 2022, reflecting better investment returns[8] - Interest expense on lease liabilities for Q3 2023 was €(286) thousand, up from €(33) thousand in Q3 2022, suggesting increased leasing costs[8] Operational Support - The company has issued letters of support to its subsidiaries to provide financial backing, indicating a commitment to maintaining operational stability[115] Employment and Related Transactions - Voxeljet employed Lisa Franz as an intern from October 2021 to February 2022, receiving a salary of kEUR 1 in Q1 2022[121] - Voxeljet employed Romy Ederer as an intern from March to April 2023, receiving a salary of kEUR 1 in the nine months ended September 30, 2023[121] - All related party transactions were conducted on an arm's length basis[122]
voxeljet(VJET) - 2023 Q3 - Quarterly Report