Sigma Labs (NASDAQ: SGLB)
, a leading developer of quality assurance software for the commercial 3D metal printing industry, is reporting is financial numbers and operational highlights for the fourth quarter and fiscal year ending Dec. 31, 2020. Fourth-quarter highlights include being awarded a Lockheed Martin Space Additive Design & Manufacturing Center contract; the closing of a $5.1 million public offering; a worldwide cooperation agreement and initial joint customer with DMG MORI as the preferred melt pool monitoring system for its LASERTEC SLM machines; new partnerships with Northwestern University and IN4.OS, a leader in advanced manufacturing; and expanded team announcements designed to support key partnerships. The report also noted full-year operational highlights that included several key contract wins, the launch of its Printrite3D(R) Production Series, its joint sales agreement with Materialise NV, and the closing of a private placement of convertible preferred stock and warrants as well as an April 2020 offering of common stock and warrants; the company also received two U.S. patents for its industry-leading PrintRite3D technology. “Despite the challenges of the global pandemic, 2020 was a gratifying year for Sigma Labs,” said Sigma Labs president and CEO Mark K. Ruport in the press release. “We were able to achieve almost all of our objectives in a very difficult operating environment. The industries that we focus on were hit hard by COVID-19 and caused almost every opportunity we were pursuing to be delayed, reduced in scope and in a few instances, cancelled. Despite the negative impact on our pipeline, we still doubled revenue, put together a very experienced Additive Manufacturing sales team to support our partners, and greatly improved our balance sheet. For our long-term shareholders and investors, we are proud to contrast the Sigma Labs of yesterday, an R&D focused company, to where we stand today, a full-fledged commercial enterprise aggressively taking our technology to all market segments. Today, we are seeing increased activity in a what I believe to be a rejuvenated 3D metal printing market.”
To view the full press release, visit https://ibn.fm/NCFrG
About Sigma Labs Inc.
Sigma Labs is a leading provider of in-process quality assurance (“IPQA(R)”) 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 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, visit www.SigmaLabsInc.com
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The latest news and updates relating to SGLB are available in the company’s newsroom at http://ibn.fm/SGLB
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