Sigma Labs Reports Second Quarter 2019 Financial Results
Summary
“The second quarter of 2019 was highlighted by sustained commercialization efforts, as we continue to make meaningful progress towards integrating our proven quality assurance technology into innovative new applications in the multi-billion-dollar industrial 3D printing market,” said John Rice, Chief Executive Officer of Sigma Labs. “Our core software product, proven out and vetted through case studies with DARPA and Honeywell Aerospace, addresses significant unmet market challenges facing the 3D metal printing industry. The decrease in our gross margin is primarily attributable to the additional travel and labor costs associated with the on-site and remote collaboration involved in initiation of the company’s Rapid Test and Evaluation programs. Founded in 2010, Sigma is a software company that specializes in the development and commercialization of real-time computer aided inspection (CAI) solutions known as PrintRite3D® for 3D advanced manufacturing technologies. Sigma Labs’ advanced computer-aided software product revolutionizes commercial additive manufacturing, enabling non-destructive quality assurance mid-production, uniquely allowing errors to be corrected in real-time.