Sigma Labs (NASDAQ: SGLB), a leading developer of quality assurance software for the commercial 3D metal printing industry, has released its third-quarter financial and operational results. Highlights from the report include increased revenues, which totaled $0.7 million in the period ending Sept. 30, 2021, 182% growth compared to the same period last year; the first multi-unit sale, made to a U.S. Department of Energy contractor; and the first sale to a prestigious U. S. National Laboratory with the objective of ongoing research and development. In addition, Sigma Labs noted that it had been selected as the official supplier of In-process quality assurance (“IPQA”) monitoring systems for DMG MORI’s prestigious qualified products (“DMQP”) program. The company also noted that Jacob Brunsberg, a former GE additive manufacturing executive, has been named senior vice president and will focus on in-process quality assurance product development and commercialization programs. Finally, the company has sponsored and participated in several U.S. and Germany industry events with the objective of exhibiting its PrintRite3D Version 7.0. “This quarter is further validation of the increasing awareness of the need for a third party in-process quality assurance system,” said Sigma Labs president and CEO Mark K. Ruport in the press release. “Revenues for the quarter were up 182% to $0.7 million on the strength of our first PrintRite3D multi-unit sale to a U.S. Department of Energy contractor as well as a single unit sale to a U.S. National Laboratory. The fact that PrintRite3D was selected by the end users to support metal printers from multiple leading 3D printer OEM’s, two of which have their own monitoring systems, further demonstrates the need for standard quality metrics across a heterogeneous set of printers. Our focus for the remainder of 2021 and 2022 is to continue to build out our field sales organization with sales and support engineers that have significant industry experience to support our existing partners such as DMG MORI, Additive Industries, Materialise and other industry leading companies.”
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About Sigma Labs Inc.
Sigma Labs is a leading provider of in-process quality assurance, or IPQA(R) (“IPQA”) software, to the additive manufacturing industry. Sigma Labs specializes in the development and commercialization of real-time monitoring solutions known as PrintRite3D(R) for 3D metal advanced manufacturing technologies. PrintRite3D detects and classifies defects and anomalies in real time during the manufacturing process, enabling significant cost savings and production efficiencies. Sigma Labs believes its software product will be a major catalyst for the acceleration and adoption of 3D metal printing. For more information about the company, please visit www.SigmaLabsInc.com
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