As part of the H.C. Wainwright investment conference, a virtual gathering of companies and investors that took place this month, Santa Fe software company Sigma Labs says it is poised for increases in revenue and profitability.
The company, which was founded in 1985, has experienced a significant bump in revenue over the past few years. In 2019 and 2020, the company's revenue more than doubled — from $402,446 to $807,488 — according to Securities and Exchange Commission (SEC) filings. And according to a new investor presentation, filed with the SEC on Sept. 13 — the first day of the Wainwright conference — "revenue will still be bumpy, but overall activity continues to increase."
Sigma Labs, led by president and CEO Mark Ruport, offers quality assurance systems for 3D metal printing. Called 3DPrintRite, the systems identify and classify certain defects present in materials during the manufacturing process in real time, enabling cost savings and efficiency. The product works with most "of the leading 3D metal printers," according to Sigma Labs's website. The business model's profitability will "accelerate" with the growth of the additive manufacturing industry, the presentation says.
Sigma Labs is one of only a handful of publicly traded companies in the state. Its amount of investment increased earlier this year with the close of a $9.7 million stock offering, the company announced. As of Friday afternoon, shares in Sigma were trading on the NASDAQ for $3.38 per share.
3DPrintRite has been tested by large manufacturers such as Lockheed Martin and Airbus, according to reporting from the Santa Fe New Mexican. Sigma's most recent iteration of the product incorporates machine learning, predictive modeling and other technologies. Along with the company's software, 3DPrintRite uses sensors, data and computing hardware to provide quality management.
In addition to Santa Fe, Sigma Labs also has a presence in Germany, China, Japan, Singapore and Taiwan. The company reportedly had 30 employees as of April, per the New Mexican, with more than half located in the state. It started trading on the NASDAQ in 2017 before hiring a European customer service and support team, Business First reported.
