Bobble head 3D printing strategy proves expensive for 333D
The business of bobble heads has been tough for 3D printer 333D — which today shared details of a significant cash burn in its latest quarterly results.
333D recently pivoted away from supplying 3D printers to schools to custom 3D printing.
333D (ASX:T3D) received just $120,000 from customers in the last quarter but burnt through $400,000 in operational costs — the majority of which was in product manufacturing and operating costs.
Looking back over the year to date, the company has spent a quarter of its cash outgoings — $240,000 — on advertising and marketing, resulting in $512,000 in receipts for the nine months.
For the quarter ahead it’s forecasting a spend of $600,000.
Earlier this year the company was granted official licencee status with the International Cricket Council, to manufacture and distribute cricket figurines at its events including next year’s world cup.
As part of that agreement, T3D has approval to sell its figurines on the ICC’s e-commerce platform – expected to go live in September.
In addition to its bobble head figurines, the company prints a range of objects and says it wants to become Australia’s ‘leading integrated multi-platform 3D technology company’.
Shares in the company were today trading at 0.4c, within the range of its trades since it reached highs of 0.7c off licensee status given by the Australian football federation.
In its half yearly earlier this year, the company told the market Aussies weren’t ready for for the tech, saying it had been ahead of the curve, but was now taking a different path to success.
“The previous six months have borne witness to a shift in the company’s business model that is congruent with lessons learnt about the Australian market for 3D printers and 3D printing,” the company told investors.
“Our school 3D printer proved too early for the marketplace, and as a result, we quickly redirected our focus to providing high-quality, affordable 3D printing via our print services bureau and developing a brand-new category of products and services related to 3D-printing licensed content.”