Earnings call transcript Q3 2022

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Operator

Good morning. And welcome to the Shapeways’ Third Quarter 2022 Earnings Call. All participants will be in a listen-only mode. [Operator Instructions] Please note that this event is being recorded. I would now like to turn the call over to Ms. Sacks. Nikki ahead. go Please

Nikki Sacks

to all quarter listen-only participants will remarks. question-and-answer welcome At mode. earnings this session prepared the time, are follow Shapeways’ and XXXX third call. A Greetings in a

conference a is As this being recorded. reminder,

and Any to for statements financial Litigation to Before Federal new and NYSE’s recent or are with everyone statements. of estimates the management statements, strategy, results to those Securities reliance remind not these involve growth, are Securities Reform this statements. XXXX, regarding that Laws, will plans from XXXX. statements like within call statements pursuant undue during that performance, acquisitions, include continued statements uncertainties of standards and which historical future Act based projected forward-looking materially differ actual we and Private forward-looking risks our All for limitation, in the compliance that contained of expected started, the not fact, of making this opportunity the should be forward-looking financial of anticipated could get place Provisions upon quarter material statements without cause would call to fourth current are impact listing the offerings, by Accordingly, market that you business results Safe be those I on Harbor be including statements. should deemed These meaning implied assumptions. made operating statements of forward-looking

on for quarter as XXXX. provided revise speaks required our except filings, the to conference or the the in SEC only XX, the disclaims obligations of including XX-Q The today, business, forward-looking associated XX, risks the report please quarterly this any description November and XXXX. law see September statements. broadcast by information call with update Shapeways For uncertainties to ended company's company's Form

release a is There non-GAAP during today's to financial adjusted can the shapeways.com. which refer is which call, currently reconciliation close, the our available on non-GAAP after GAAP found of will versus schedule our EBITDA market a results Also, issued press course at be website showing measure. we in

are the like Greg to Alberto Officer. over and Officer; Greg. Financial turn I’d to And Greg? today, Kress, Chief call call now Recchi, the On Executive Chief

Greg Kress

us morning Thanks results quarter. third discuss Shapeways’ everyone. Good for and joining XXXX to during financial quarter the progress

I will quarter CFO, fourth quarter. made progress our that business with the growth and to strategic by begin and our discuss our providing a financial we the then for share have regard plan. third Alberto outlook results update Recchi, will

to year. integrating in key third half on the strategic quarter, first of acquisitions initiatives our continued focus growth executing while completed we During the the three the we

remain opportunity drive would momentum are structure. call cost managing commercialization specifically of the software we areas to pleased We revenue out and I our seeing revenue we continued like growth as resources on We aligning have of to our are our to benefits focused almost strategic period, the initiatives. growth the growth, prior on our tightly as realize profitable progress. the strong with begin our highest focus offering, while XX% from delivered year to

commercialize with economics was Shapeways to ability vision, that us to high-quality, process. end-to-end digitize developed Shapeways manufacturing created we deliver provide order meaningful manufacturing low-volume proprietary a gives the opportunity platform, fully and software. the at In to which our software accomplish a compelling customers, also this for to

XXXX. overall software have of commercialization towards in our the progress We significant made

year. and than auto revenue from contributions XXX to last revenue, on the and customers up the million their is active generating integrations third quarter, $X.X realize SaaS the MakerOS Specifically recent the of which only in we expect end and SaaS of to By year, over positive roadmap. of the this $XXX,XXX MFG most we acquisitions reach focus more

retention, customer We working are offering have made currently existing across Shapeways and acquisition and and to strong MFG progress optimizing MakerOS. the new product unify customer

will services for and The to of digitize suite software our a tools provide is vision manufacturers. that

features currently XXXX. to the customer focused generating plan are base our on We building on to this year momentum achieved throughout revenue deliver we and

We revenue offering through demand processing growth and for Shapeways allow capture SaaS by these see long-term. manufacturing the We and supply fees, us both near-term our to subscription, features to and other partners. expect chain capabilities overflow services transaction and potential generation software significant in

and expanding scale to In enterprise are continuing development on resources to strategy to strategy, go-to-market we terms support outbound customers. our of execute our business develop

We longer these pipeline segments. for The our are expected, our industrial orders orders. has medical, and we progress seeing and initial growing by production but move encouraged qualification been than customers aerospace, cycle to buying across target are automotive, scaled

the we have seen original scale and customers scope expand projects. their these of Additionally,

strong platform, AMS provided accelerate the Linear challenging onto in in By we strategy. to the our can drive organically. seen automotive We've business the software leveraging to This expanding manufacturing been penetrate industry our growth, acquisition of Shapeways and to that would acquisition manufacturing expertise with tuck-in and and by proven has an of of integrating has us to capital the expanding by be business capabilities, Shapeways growth AMS, this use capabilities. domain further processes go-to-market which has a we customer Linear manufacturing believe broader efficient momentum vertical, have facilitated sophisticated deep access

that processes, quarters, we continue several optimize past and to over materials, hardware, certifications. have the and manufacturing in the post added also capabilities We additive scale production

margin customers and directly have on been driving development. application optimization on with quality, working gross our We focused

growth are and We have emerging. drive to already the invested results

and also supply strive chain. We manufacturers managing potential macro current Shapeways around to buying over control for result supply could provides their While compelling solution. Shapeways clear strategies as continue have shift more this a environment and diversify and the chains in delayed to believe tailwind believe and pressures geopolitical decisions. present We

a their our providing manufacturing software as the digitized marketplace, We acting and needs way. of broad by customers, in this power manufacturing buyers our across and We traditional, platform. of connecting are solutions and companies and range highly industrial a leveraging helping by manufacturers solve do a efficient grade to additive

We investments, continues recent our capabilities believe $X with trillion have expand. market market industry. opportunity a our And from global addressable we our massive within manufacturing enhanced to

the profitable achieving allocating results, customers. and and highest we growth as efforts verticals the into we believe evolve our we deepening With such deliver our as will are focus enterprise key software that on commercializing resources initiatives towards our focus

will manufacturing that we our can cost Additionally, our Long consolidated York us structure our manufacturing facility. our easily City, The optimizing Livonia, optimized and for a be expanded facility the U.S. further are more New footprint consolidation of centralized facility with location with an with time. Island provide Michigan over customers

supports strong towards a normalized well us have balance, cash on path positioning our burn, our which We profitability. cash

been to the Alberto Board October Team as Investor Shapeways would our since and Recchi, continues I like welcome formally CFO, IPO Alberto who has New Xst. Member and a our in joined those Management capacities.

on is executive We an of team. are he to member excited him Board; important our have

through progress investments tangible facilities, technology making and are We strategic people, manufacturing capabilities. in

As manufacturing customers, of on execute and we support. all to share expand would platform software. our our ongoing market a opportunity our for Shapeways' like scalable and capture digital our investors, thank I using highly our team, their and stakeholders entire to the

in Alberto detail. more will financial discuss now results our

Alberto Recchi

position XXXX provide Greg. balance in the was quarter. for of performance. $X.X to the on our in year attributable million contributions positive fourth offering, and third and million the compared increased line quarter, revenue prior traditional X.X% The I'll in our additive provide update our quarter with $X.X primarily expectations. scaling to manufacturing Thanks software manufacturing services. to over capabilities increase sheet In from Give third guidance a revenue recap our an

XXXX. gross Our were third compared margins in in quarter XX% the to third quarter of XX% the

deliver tier year-over-year recently product a to technologies to gross and to inflationary continued a new more in change ramping of mix. pressures was primarily top due margins We varied continue deploying

loss loss was of a EBITDA compared million of adjusted year. $X.X million the a last third quarter quarter $X.X Third in of to

facility. $X.X related third in acquired other The SG&A million part to were Linear SG&A resulted expenses personal intangibles the expense expenses the the a Michigan in U.S. amortization manufacturing to AMS, anticipate cost for public move MakerOS. we onetime gross Livonia, through consolidation in reduced benefits related professional of related spending prior of out million acquisitions and and and and $X.X Long Increased company move the to XXXX. being our completion result this Island structure year. increases costs in and to the as as for fees capabilities our margin quarter The of to increase move we will City from restructuring the MFG of of primarily business cost, compared

totaled equivalence sheet, of cash cash balance XX, our $XX.X and to Turning million. XXXX, September our as

made approximately and compared equipment. cash to the earlier $X.X the best quarter this in year when in we manual reduced as meaningful deployed quarter, million burn investments cash a the During utilization acquisitions of company reflecting

cover profitability and managing expect manufacturing the additional QX capital. our and as continuous strategic We D&O balance believe We to high expenses annual as to without near-term of our need our and burn consolidation in premiums. insurance, us we the focus our facility such raise complete allow plan execute on on organic achieving will strength sheet burn cash a

at flexibility additional by with given offering, we've of reach declared SEC. our and good of have the market part shelf a as an which financial we'd shelf to on along provide universal the XX both filing governance, filed affected However, focus eligibility, corporate million been

organic capital growing While potentially program in markets us growth. to we the the down anticipate will allow not the also the near-term, access on funding ATM do opportunistically and

to revenue $X.X in the Looking range quarter to be million of XXXX anticipate the we million. ahead fourth $X.X for of

our anticipate gross we near-term As both new continue hardware pressure initiative. invest some We margins. go-to-market continued to in on and

to of with our our in in ramp positive We investment resources continue of a from of over investment anticipate to technologies recent business offering, rollout materials, sales our auto continue and acquisition. impact the time new an in increase SaaS and development up along

responded less deficiency cure standard next address later indicating share to average with consecutive XX-day York our common timely Exchange a Exchange, over have than trading to per not I a intent our our stock Lastly, period. to XX, on than we stock price We like we're was from New the that York of New the meeting Stock to continued August at the Stock as no annual XXXX would notice listing respect of we $X in closing holders. the received compliance

to of reverse split. QX next calling stockholder Our Directors company Board has stock approved approve a the year a special meeting

of is to with preliminary proxy SEC end the a intention before Our month. statement the this file

prepared we'll for call remarks completed we'll be and this, our now with questions. the open completing And

Operator?

Operator

Instructions] Craig-Hallum first Greg [Operator ahead. go with question Capital Palm Please Group. Our comes from

Danny Eggerichs

October QX the to out Any positive here. give some early for detail monthly questions. Danny if what I on guess starting Yes, the Greg thanks. maybe for the today. This overall seeing and environment, could on that negative, seen that the you end or cadence just how progress in there? kind stick or you've November of Thanks and demand taking is throughout Eggerichs on through markets you're anything

Greg Kress

thanks Danny, the Hey, joining for Thanks for question. today.

of think bit tends a out business, want is budgets. see our back, then also trying I we quarter we up areas step of lot really take businesses then I and there's of And two Cyber Shapeways season. a of to finish that on. a quite engineering historic Monday that consumer a of Friday, One the that the if touch self-service to would teams in the year are the supporting and end seasonality the orders fourth to Black around close holiday before have lot and kind

And see and in occur business so seasonality our to QX. in core higher spike tend we a some

make that more a not. are whether too customer focused, and We to it's also I business early really think build seasonality acquisition development or model any us for call has on enterprise, to starting

strong of we type expect in – by that Now see and orders but a moving I Software-as-a-Service QX, with do orders, through so into said, to driven the to seasonality expect a very, our we pipeline, being continue qualification production and have business. very think we near-term more that QX so over lot to

Danny Eggerichs

Maybe and good still auto this end of great. – I of in that can metrics about revenues of and X are some expecting on, I on customers just Okay, guess by Phase think we the year. if you're gave kind touch we kind you coming that? what year, more adding revenue these You additional features upcoming on customers in features rollout that kind additional planned so of the of how the contribution the generating year? off based coming about that should mentioned new in are

Greg Kress

Yes.

series of through base. stages additional a lot I quite there's I MFG said, customer this very monetize we and customers to bit customer base in that a of things we of I have think being about. that still we've early When with a the to that think seen did about – been of we've access based we're which features, acquisition the think there's with of auto, the think couple of able rollout we off

opportunity revenue. start I in both we features retention think do amount tremendous of and not to yet, talk think that that with associated lot next that in also of the what those talk sitting customer through to the detail ready short-term first the into to have out long-term And expect continue the and phases move we're that a to able to in features, be acquisition testing of have then and so a I front additional we And of as in still the is roll there's to that but additional drive business, a And year. features. of lot with those more rollout half really we're we'll

Danny Eggerichs

Metal going? Desktop Maybe the one side on then EOS? Got you're it. more metal side I of maybe how from ramp the is on side, and seeing can in get here the that other what and like GE the Maybe if just

Greg Kress

state would I challenges like levels out of time working get maturity our of technologies. quality we've – It machines then that printing the kind Desktop good feel controllable we beginning. us least for a way working reprints would there's we're different say the equipment, those like delivering some and in in takes of are in that I at like the in at rolling to where had say customer. way feel different to back those Yes. and we optimize a some Metal a

in we're optimization it. to the week still the review some some a and margins for we We're a we'll to basically and quality like to being did too printing. that But I roll we We sitting in customers said, sure costs our of of seeing I way just bit metal don't is We supporting new at products are fast. opportunities on for again, volume, a seeing pipeline think with want that our quite high these this continue and them. focus delivering traction out where of there's make right, last BD us. But to gross good want good go relatively

Danny Eggerichs

All sense. right, makes Yes, leave thanks. there. it I'll

Greg Kress

Danny. you, Thank

Operator

next Our Capital. comes Street Lake Please ahead. Troy from Jensen question go with

Troy Jensen

know revenue Hey to trying rate Maybe for an out had Alberto, is just you gentlemen taking organic curious for can maybe I the figure acquisitions, guys what you've I'm to questions. guess thanks growth guys? for from contribution you to and my the quantify get

Alberto Recchi

around $X again. say million Yes. Hi I'd Troy, good speaking – basis? million to $X you runway on million, million, probably this a $X is $X

Troy Jensen

in like So $X.X on you're September like so a talking a quarterly, million to $X million quarter?

Alberto Recchi

you specifically that, About something maybe on can separate walk business. a like the I on through call

Troy Jensen

Okay, that's fine.

Alberto Recchi

Yes. Yes, totally.

Troy Jensen

And gave those through you kind information timing I of sorry, could on it? the revenue metrics and missed you, Greg, ramp know auto, time? the of kind then I'm some could one go you of more repeat

Greg Kress

revenue that We fine. previous last of about in that's we we had the year. yes, No, worth $XXX,XXX in – mentioned remarks closed

auto customers over of features XXX by customers platform platform from We active the on paying $X.X expect this on also different year, end the will the customers in to – coming the year. exceed revenue over million the achieve

we're And stronger just now acquisition on so front-end, the retention focused focused and customer then funnel the right on model. also a on

then do And more the drive of to start on more as it. we'll layer top features additional and revenue that we for in business that

out we're now MFG the – the features customer say acquisition And really those and retention. acquisition and right the platform acquisition, drive a so I there's that unifying on MakerOS and because of would to focused rolling

that really are lot expected the we the good And to out. we and out so about rolling we're But for feeling year business we continue upside potential progress. really, see a of things next as in roll as

Troy Jensen

info; you timing for move when that completion couple for Michigan the that to Long me more A expect you of and shutdown and up open facility Island? thank Okay.

Greg Kress

of prepared probably we first done definitely, the well sure Yes, right on by but complete. I take facility doing ahead be for in We make build-out would We're that, the of say to phases. it. now. kind of that want it we're now Right approach decided almost of to is completely I about halfway the it it to through end schedule the expect of Detroit quarter. we're

So we're completely of end should of little a giving the but wiggle room, ourselves done by be bit QX. we the

Troy Jensen

Last here but are you about guys metals, may question last up currently? than multi-parts, more to question on be Okay, follow machines perfect. two the running shot

Greg Kress

we machines have the Right shop three and facility. now Yes. of operating machines facility both out Island City our Long Eindhoven

City are We relocating the Island to area. Detroit the Long equipment

handful Eindhoven it little probably be process as a capacity And for so that a time offset to a weeks shutdown goes have period. during will but there of on, we that of enough bit

Troy Jensen

Understood. it. Got

go follow-up ahead. and DM So on – just the

Greg Kress

And have its your as on in Shop up space. Shop questions Systems well going three in for also we we metals, set that's more System Forest now. right that's also Wood up But I System but was to to specific have say a Shop Detroit, infancy set metal

Troy Jensen

Yes.

I what to guess to all required guess big such to are just was I you're growth organic a million Okay. equipment? those seem Desktop getting I I It think used? machines ultimately Metal. spent $XX having you're the in that justify like investment entire you is, additive more being doesn't

Greg Kress

got last at in the that Yes. tier Metal some that in but made we also well. The Desktop of end was only Metal Vision and covers Desktop from Tech investment placed equipment, year XX products the of that not as they that

are technologies. there's the Metal in So Desktop equipment, beginning those not rolling still very it's of the but – just we out in

out that that our roll we're the aggressively beginning we're But not want the we to the demand of say customers. We to have the of with very do that pacing make of also of rollout it we're business so want too sure so the and meeting we're rolling either. buy. I'd – we expectations at out And that full that

Troy Jensen

it I'll you Congrats some with got and good take offline I guys. follow-up, Awesome. luck. but

Greg Kress

Thanks Yes. Troy.

Operator

Our question from ahead. with Jim go comes and Needham Please next Ricchiuti Company.

Jim Ricchiuti

morning. Thanks. Good

we bit question's sequentially, reflects the operating I how quarters – to should a next despite your go-to-market in and amortization the expense revenues the was asking flat which thinking expense, investments strategy? position as First well over go-to-market on you're what that? this QX up quite in or if a OpEx much levels as be was guess related how acquisition few is this I'm about discuss of from quarter in mainly current

Alberto Recchi

Maybe take I'll Yes. Greg. this

Greg Kress

fine. that's Yes,

Alberto Recchi

indicator my where is expenses to factors QX quarter. decided Look, in and think decent contributed of remarks that opening I be a in the in be increase this Yes. think SG&A felt will and I the valid QX remain I some SG&A will

there's other Specifically, and City related will remain QX. to as costs structuring There's to not one timeless of Island which spending being line further. move a we facility. a the work for related to out personal in And however, expect do company fees public we professional increase again Long costs

Okay.

for proxy would use I again, a QX So probably QX. just as

Jim Ricchiuti

Okay. and potential QX the out maybe Island next operation, And City this expected you by year. end I QX? talk Michigan to be QX as you phase Long guess drag the ramp margins facility of on to is could completed in the and all the

Greg Kress

Yes, so that's – go ahead Albert.

Alberto Recchi

No, you I pick our we going right U.S. capabilities going Livonia, I'm transitioning where up in where was facility left, just manufacturing to say, the to to Michigan. began it

therefore expected again, transition in the year. impact the definitely visible we think business. But is reduce be our XXXX margins right, positive will first third I of optimization, cost to structure gross expect and resolve this next on for gross quarter and processes, the of this completed benefits throughout be margin in manufacturing to

I add anything don’t wanted if else? Greg, to you know

Greg Kress

is because we labor there running two redundancy we've we as but that already would plan tandem, only point phase had we've where phase. experiencing make, will Jim, been the some that No, in move almost I increased in are it some to facilities be other

implication So of small QX perspective, picture, in there the quite is a it's that, from driven actually a a in by pressure amount standpoint. it's but the small from on grand, planning margin gross an in big

Jim Ricchiuti

this about of providing are to and to tied challenges little up more, wanted chain orders Got customers a go production that is an qualification these parts? scale policy to when specific with we insurance orders I they you event bit into talk with the could orders it. or initial set And the schedule if production experience qualification maybe a supply

Greg Kress

a great Yes, question, it’s Jim.

become of we've able of you really manufacturing it go what customers so qualification, there seen customers, certified haven't has right, those been talk they quite think the create. and a I you we to a handful through that supplier, additive inspection, confidentiality, value qualification orders, is yet the but about they similar, where been because are using does go unfortunately of bit are article for first far through you

are – transitioned So will on-demand week-to-week demand on there customers the manufacturing are and they say for basis. the production. fluctuations customers programs that from couple I their on large quite have where sizable is that But business really into the month-over-month couple a we've growing

right? capture to we so feeling If is value be we're good production our I a for part from it think margin that it, don't scale also pressure really the allows would part volume, but point price a going differentiation, us strong was And still perspective. from get fits to there to where more more proposition it, need a of still probably at very about it which have less The gross different. strong we're where every

those still orders. half next targeting move into And because have have we'll where of – think we I differentiation. the customers those and we we're close And more year more so we will have applications as first more learn we'll

cohorts So take on the customers those we're of are basis. grow and happy results we're they of with a now, to can month-to-month are the seeing. continuing expand as at that they how and But performing look and right we a

Jim Ricchiuti

these alluded you what active customers to, end the of a is profile final Got year. I to topic are? some as wonder by auto you on give sense question talk of the XXX if the that customers, could me it. little And of to the for just types of customers

Greg Kress

great. it's Yes,

the the using customers they We that additive well. still mix to And the do we demand small manufacturers, on and them that the what to a is rolling out are some think the flowing transactions traditional features from side far so been and flowing on – profile are I we consider out more have ordering platform. side. mid-size through have the as platform be everything generation ordering of services will to mostly also

see it's customers. so we mid-size, small, that becoming And really non-digitized manufacturers

think with thing those for roll is the us And customers MFG customers. XX,XXX slowly about came interesting migrate can to to that and features non-paying I over out we active those start time

of that as there So year. from I an standpoint, move can things we acquisition we is very interesting a next think, into lot half do acquisition of for customer first the

Jim Ricchiuti

Thank it. Got you.

Greg Kress

Jim. Thanks,

Operator

with Our go next question Stifel. Noelle comes from Please Dilts ahead.

Noelle Dilts

Thanks guys. taking question. my for Hi

on Just how on that inflationary into of price expand are the in willing I the and your market pricing. how in I hoping what a could words, gross increases to heading bit thinking seeing front, via was through XXXX? I been about you Thanks. in little guess front has you that success and margin guess are passing terms you other the accept

Greg Kress

Noelle. you Great joining us. Thanks thank Yes, for question.

our inflationary back, I over perspective, we to be impacting structure. think there of customers. relatively of things be we see can margins. component from to costs our One, general a is a couple the some And overall a small that's step do transferred been if in have material but most gross cost pricing a those easily take that pretty

outsource. there has easy, on as that few some where we metal been specifically places that products hasn't of Now been the a

to part more on from a significant that's pass bit seen pretty without metal the there, production. revenue cost challenging to some outsource little customer do all been increases of perspective. a some volume losing and We've that we So price

implications with costs overall of are Eindhoven is costs just of of standpoint. are that point make where on-demand, other some to offset the continue The upsells that confident being our and we our would roll to our to inflation in I new we strategically said, the test have easy it's then increased out throughout And overhead process price an vast is specifically is But facility up. the can to or good us majority energy customers. customers this seen we so our volume are different increases the news from most for that

Noelle Dilts

Okay, great.

Alberto Recchi

if we be through, can no, expect again, grows model Greg, you to for I helping May margin add for this something I right. hold QX, strong, guess right

compared And feel I certainly margins told looking what we as Greg just use had similar a a most as use proxy. again, proxy QX, as QX so to at for slight QX QX, but a to pressure you might SG&A. said would And we on

Noelle Dilts

move. sometimes I or inventory, know that facility? like to some to sort Michigan that I And called or I was, you but up order have think when on we one question direct you Anything there backup understand but going transition of had be can in also questions, this build you and to Okay. that have another as transition, costs support that be of Jim's of guess guess of this I that inefficiencies kind I the you I through is there touched facility with sort you're capacity should out, mindful of

Greg Kress

nothing to there I would say is really out specifically. call

Noelle Dilts

Okay.

Greg Kress

leveraging Linear the transition of in in place biggest there in space that doing phases, it that's because seeing our right thing we're we're now floor today AMS. at we're beauty already is But labor think model. redundancy the I this is some is

We very the costs is way able have where there So in do overlap. in an in relatively this unnecessary equipment limited of labor a material overhead isn't flat. it's some additional the there to standpoint, redundancy ton a of and model. from do structure. We're And

we've so quite process why for and good a And this so think been I managing while seen we're that's we've far results. doing And well. very the

being migration. absolutely don't we any five another the said, complete. with still Now maybe have expect significant But to months issues that four before related it's we of transition this to

Noelle Dilts

basis? of burn I that we kind $X a should know you've in I one thinking bit to a you rate. million quarter fourth being a way me, the on about you about kind you just your for $X think million are of cash talked last for And that? your quarterly but burn cash great. revisit think needs past how Is Okay, discussed still could higher, the about expectations

Alberto Recchi

to we our margin million of margin cost over $X.X Yes, we burn see and rate million gross right Obviously and like that time structure gross improves now basis. we're as our looking burn and a revenue, our at on quarter-by-quarter the mix grow $X.X normalized controlled. rate, more being models

And to so, additional and achieve reach goals need not our time, we do EBITDA. in at this positive point capital

focus we and that pushing on our so growth continue structure just to And initiatives. tight on really maintaining cost

we're like on as really we plan. will you And good but cash spot, improve so see we execute over feel in a time the

Noelle Dilts

you. Thank Great.

Operator

turn the question-and-answer session. I conference over closing for the concludes any remarks. like to would This Kress Greg back to

Greg Kress

I everyone behalf joining us today. updates everyone. of additional and again the myself in Talk appreciate team forward joining thanks and the coming taking soon. thanks look We Shapeways’ the Well, providing time the for to entire On call. months.

Operator

The now Thank today's presentation. for conference attending you concluded. has

may disconnect. now You

Shapeways (SHPWQ) 15 Nov 222022 Q3 Earnings call transcript