Metal additive manufacturing company AML3D Limited has reported strong results in earnings for the full year ended 30 June, while also highlighting over $6 million in US Defence orders received so far in 2023.
Throughout the year, the ASX-listed company said it changed its business strategy to concentrate on providing industrial manufacturers in the US Defence, Marine, and Aerospace industries with its proprietary ARCEMY metal 3D printing technology as a point-of-need manufacturing solution.
AML3D also revealed it secured two orders for its large-scale ARCEMY X version 6700 system to support the US Navy’s submarine industrial base, with aligned contract manufacturing contracts, and an order for an enterprise-level ARCEMY system to Curtin University in Perth.
Increased sales momentum and successful execution of AML3D’s refocused growth strategy are expected to result in record revenues in FY24, with significant work in progress from the existing US sales pipeline.
According to AML3D Interim CEO Sean Ebert, this year’s strategic move has AML3D in an ideal position to continue expanding its presence within the strategically crucial US defence sector.
“We are confident of converting our ARCEMY sales pipeline into firm contracts that will expand on the $6 million in confirmed orders to be delivered during FY24,” Ebert noted.
One of the key milestones achieved includes contracts for ARCEMY ‘X – Edition 6700’ systems for use at the US Navy’s Danville Additive Manufacturing Centre of Excellence in Virginia and the Oak Ridge National Laboratory in Tennessee.
A contract for an enterprise-level ARCEMY system to Curtin University has also been secured, with aligned R&D support and the creation of a satellite AML3D demonstration facility.
Contracts for the continuation of alloy testing and validation of metal 3D-printed components for the US Navy as well as a US value-added reseller agreement signed with Phillips Corp, a leading US Federal Government sales partner were achieved.
Furthermore, AML3D retains the ability to provide contract manufacturing and prototyping services to the Company’s Global Tier 1 clients, which include Chevron, Boeing, and BAE Systems.
Contract manufacturing connections at AML3D generate funds now and create the potential for future ARCEMY sales.
AML3D said its proprietary Wire-arc Additive Manufacturing (WAM) technology is being commercialised by the company as a point-of-need solution for industrial manufacturers, and the company has identified this as a key growth driver within the overall strategy to create shareholder value.
Looking forward, AML3D stated that it is optimistic about converting this ARCEMY sales pipeline into firm contracts, which will add to the $6 million in confirmed orders expected to be delivered during FY24.
“We would like to thank our very capable team that continues to work tirelessly through these challenging times to ensure AML3D remains on its path to further success and growth. They have demonstrated resilience and dedication throughout this growth phase,” said Ebert.
