Optomec, supplier of solutions for 3D printed electronics and 3D printed metal, reported a sharp increase in bookings during fiscal year 2021, including nearly 60% growth in new orders for its proprietary Aerosol Jet and LENS industrial printers. The steep rise in recent sales puts business activity well ahead of pre-pandemic levels, where Optomec had already experienced 50% growth in 2019 and takes the total installed base to nearly 600 machines across more than 250 customers.
“After an admittedly slow start to 2021, coincident with the global spike in COVID severity, sales quickly recovered in the second quarter and remained at a robust level through year-end, despite the lag in recovery for historically fruitful commercial aviation and international markets,” said David Ramahi, Optomec CEO. “While much of this activity was born of long-standing relationships with production customers, the relative strength of our broader pipeline makes us optimistic that the growth trend will continue into 2022 and beyond.”
The company’s high growth in 2021 bookings is being driven by repeat sales into pre-existing production customers and major accounts, including a Fortune 50 company that invested $1M for 2 additional additive electronics systems (targeting wearables) and two Fortune 500 companies investing respectively $3M for 12 additive electronics systems (semiconductor pkg) and for their 4th additive electronics system (mobile devices). Other sales went to the DOD ($3.5M for 3 additional LENS metal printers for production repair), US Navy ($1M for 2 additional additive electronics systems) and allied Navy ($1.3M for 2 metal printers for spare part production). One more $1.2M LENS metal 3D printer, went to a Tier 1 aerospace company (now totaling 10 installed systems for production repair in aviation.
“We are further encouraged by the purely organic nature of our growth, the strong uptake of newly released products developed over the last year, and the fact that we were able to maintain profitably throughout the downturn and set the stage for margin improvement moving forward. These developments reaffirm the differentiated and strategic nature of our offerings, with their proven high ROIs and unique ability to deliver unparalleled performance gains.” Ramahi continued.
Optomec is a privately-held, rapidly growing supplier of Additive Manufacturing systems. Optomec’s patented Aerosol Jet Systems for printed electronics, and LENS and Huffman brand 3D Printers for metal component production and repair, are used by industry to reduce product cost and improve performance. Together, these unique printing solutions work with the broadest spectrum of functional materials, ranging from electronic inks to structural metals and even biological matter. Optomec has now delivered more than 600 of its proprietary Additive Manufacturing systems to more than 250 marquee customers around the world, for production applications in the electronics, energy, life sciences and aerospace industries. Our users include countless blue-chip manufacturing companies, such as GE, Samsung, Raytheon, Siemens, Lockheed and LiteOn, as well as the US Air Force, US Navy, US Army and NASA.