Sigma Labs reports revenue of US$0.25 million for Q3 2020, up from revenues of US$0.17 million for Q3 2019. The increase in revenue was due to increased PrintRite3D unit sales, including the first sale of a PrintRite3D Lite unit during the quarter, the company said.
Total operating expenses for the third quarter of 2020 were US$1.4 million as compared to total operating expenses of US$1.6 million for the same period in 2019.
‘The third quarter of 2020 was about execution and laying the foundation for a successful 2021 and we are very pleased to have made significant progress in each of the strategic initiatives that we established at the beginning of the year,’ said Mark K Ruport, president and CEO. ‘As we look into 2021, Sigma Labs will remain laser-focused on building leverage into our business model and expanding our reach and footprint in the industry.’
This story uses material from Sigma Labs, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.