Massivit 3D Releases Preliminary Results for Q1 2023

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Massivit 3D Printing Technologies Ltd.

Apr 20, 2023, 11:05 ET

The company's sales in the first quarter increased by approximately 60% to $3.2 million

Lance Lyons, President of Lyons Industries – US manufacturer of luxury bath ware: "Massivit's technology is a game-changer for the industry."

Luca Businaro, CEO at Novation Tech – manufacturer of automotive parts: "With the help of the Massivit 10000, we plan to print two molds per week as opposed to one mold per twelve weeks as required with alternative methods."

Erez Zimmerman, CEO of Massivit: "We look forward to participating in two major exhibitions in the coming month, in the U.S and in Europe, at which we will present the Massivit 10000 and its range of applications. We received positive feedback from customers who have already used the printer, the main benefits include production in a fraction of the time and the cost of traditional methods. Also, the current high usage of printers by customers indicates an expected high demand for consumables. I am confident that increasing our marketing efforts will yield stronger results."

LOD, Israel, April 20, 2023 /PRNewswire/ -- Massivit 3D Printing Technologies (Massivit 3D) (TASE: MSVT), published partial preliminary results (unaudited and unreviewed) for Q4 2022 and for Q1 2023.

The company's sales in the first quarter of 2023 amounted to approximately $3.2 million, an increase of 60% compared to sales of $2 million in the first quarter last year. The company sold 8 printers compared to 5 printers in the corresponding quarter of 2022.

The company continues to offer marketing promotions for the Massivit 10000 which was successfully launched in May of last year. The 10000 will be showcased in two major exhibitions in the coming quarter: the largest 3D printing exhibition in the U.S, RAPID+TCT, and the largest composite materials exhibition in Europe, JEC World. At both exhibitions visitors will be able to see the company's printers in action and to meet the company's professional and executive teams.

The Massivit 10000 is part of Massivit's second-generation of printers. The printer, which uses Cast In Motion technology, is designed to print large molds, manufacturing tools, parts, jigs, fixtures and mandrels used by industrial manufacturers for production.

In parallel, Massivit continues to broaden its sales activities for the first-generation product line – the Massivit 1800 and 5000 printers - with an emphasis on industrial sectors such as marine and automotive.

About Massivit 3D Printing Technologies

Massivit 3D Printing Technologies Ltd. (TASE: MSVT) is a leading provider of large-scale 3D printing systems for the automotive, marine, railway, furniture and scenic fabrication markets. The company's solutions enable cost-effective production of large parts, prototypes, and molds at unprecedented speed. Massivit's vision is to transform manufacturing of large parts from traditional processes to ultra-fast, digital fabrication using industrial-grade materials. The company was founded in 2013 by a team of experts, led by Gershon Miller - founder of Objet Geometry (Stratsys SSYS Nasdaq). The Massivit's headquarters are based in Lod, Israel, from which it provides services to its international community through a broad distributor network.

For additional information, please contact:

Miri Segal Scharia
CEO
MS-IR LLC
[email protected]
917-607-8654

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SOURCE Massivit 3D Printing Technologies Ltd.