Robo 3D reckons desktop 3D printers are the next office plaything
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3D printers are set to be the next desktop essential, at least that’s what Robo 3D is hoping.
After a relaunch of their entry level 3D printer, the company have ramped up demand to meet ‘rapidly rising demand’.
In the last quarter of 2018, sales of their US$499 ($509) model Robo R1+ generated in excess of $750,000 in revenue, exceeding even managements’ expectations.
“This performance was driven by stronger than expected consumer demand for high quality entry level 3D printers, particularly through major sales channel partner Amazon,” they told the market on Tuesday.
Shares in the company (ASX:RBO) were buoyed on the news, up 15 per cent to trade at 5.3c at lunch, to give it a market cap of $13 million.
They have traded between 4.2c and 14.5 in the past 52 weeks.
Growth in desktop 3D printers looks to be moving in their favour. According to CONTEXT research, the personal and desktop segment grew by 65 per cent year-on-year for the first half of 2017.
Accelerated growth comes as the company has moved into new markets, including a move into the Middle East announced in mid-December.
They boast sales and distribution now across 37 countries, 25 of which have been added since June.
In November, the company boasted revenues for the financial year that had already surpassed the whole previous year, and they have lofty goals to stretch the margin.
“With this expanded product offering, Robo enters 2018 well positioned for strong growth with its range of 3D printers targeted at three fast-growing segments – Robo R1 (US$499) targeted at entry level users, Robo C2 (US$799) targeted at education and personal users and Robo R2 (US$1499) targeted at prosumers and professionals,” they said.