The following is a summary of the Shapeways Holdings, Inc. (SHPW) Q4 2023 Earnings Call Transcript:
Financial Performance:
Shapeways Q4 revenues increased by 9% YoY to $9.5 million; annual revenue grew 4% to $34.5 million.
Gross margin expanded by 500 basis points to 46% in Q4.
Q4 adjusted EBITDA was a loss of $5.1 million, improving from a loss of $5.6 million YoY. Full year adjusted EBITDA recorded a loss of $22.5 million.
Cost-saving measures have been applied to align the cost structure with growth expectations.
Business Progress:
Shapeways continues to strengthen its focus on enterprise manufacturing and software revenues, gaining traction in the automotive sector.
A significant $1.5 million multi-year contract was signed with a leading American automotive manufacturer after year end.
Revenues from top 250 customers grew 29% for FY 2023 compared to the previous year.
New CNC Instant Quote feature was launched to enhance manufacturing solutions and numerous key features were added to software offerings.
In a strategic shift, the company plans to sell substantial assets, potentially including its manufacturing or software business, to maximize shareholder value.
More details: Shapeways IR
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