Printer-maker Robo 3D gains 10pc after strong pre-Christmas sales
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3D printer maker Robo 3D gained 10 per cent today after announcing it had surpassed last year’s revenue in the five months to November.
The Californian hardware maker says its new entry-level printer — which costs $US499 ($653) — is responsible for the jump in sales.
Robo 3D (ASX:RBO) has upped its expected revenues to $4 million for the half-year, exceeding the $3.2 million made for the entire previous year. That’s before the Black Friday sales or holiday season have kicked in.
The shares were trading up 10 per cent at 5.4c in Thursday lunchtime trade, valuing the company at $9.9 million.
Robo 3D was founded in 2012 by a group of students from San Diego State University.
Their range of desktop 3D printers are now sold on Amazon and Best Buy and distributed to 23 countries.
Robo 3D listed on the ASX through a reverse takeover in December last year after raising $6 million at an offer price of 10c.
Shares have traded between 4.2c and 16.5c in the past year.
“Robo is continuing to aggressively expand its customer base and broaden its distribution and reach, highlighted by the recent expansion into Australia and the United Kingdom,” the company told shareholders.
“Robo is continuing to explore opportunities with major distribution partners in the US and internationally, with a particular focus on education.”