SGLB - Earnings call transcript Q3 2017

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Operator

Good afternoon. And welcome to the Sigma Labs Earnings Conference Call for the Third Quarter ended September 30, 2017. [Operator Instructions] Participants of this call are advised that the audio of this conference call is being broadcast live over the internet and is also being recorded for playback purposes. A replay of the call will be available approximately one hour after the end of the call through December 14, 2017. I would now like to turn the conference over to Scott Gordon, President of Core IR the company's Investor Relations Firm. sir. ahead go Please

Scott Gordon

With and are company's discuss everyone and Sigma third President and XX, for Michael the CTO John conference Interim and Mark company's financial joining Cola, call the CEO XXXX. June ended to Labs' Toups, quarter today thank you, are for Rice, the you Nannette today's today's results us CFO. Thank corporate company's developments Europe. representing the taking Business Fisher, Labs Development President are results call quarter September the because today, participate to place PM for Ron industrial they and the ended financial Time of XX, in Sigma now at Labs' important At company's unable show released XXXX. Sigma the Eastern Vice Formnext X:XX in

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statements results differ forward-looking numerous could call in described the or assumptions this products These underlying risks any markets, materially and this regarding not assumptions forward-looking making success any During conditions the statements forgoing. to includes the regarding earnings, call, from the statements. statement statement you a projections or or statements as relating statements statements of anticipated economic subject US to course statements. any based of statement. future a results, that of statements is of or financial of cautions to strategies performance, The and products, plans, and of those relationships about will international the for fact actual in the belief conference statements forward-looking that that statements for cash are and of new cause any proposed future new company the company's be operations, management is any of conference statements future other concerning agreements, uncertainties of and the any on company any and are of This historical expectations the company's revenues, date regarding expectations any objectives any

no of on risks Exchange are in the company read public described cautionary today's future or forward-looking potential Commission. update note risks. actual statements section and forward-looking Interim not in these over the the or these outcomes does Investors the of obligation events should is titled pleasure the to do intend investors so. Securities with reports these Some to and files to reflect to Rice, assumes press call and statements release Labs John Sigma now periodic my CEO. John? turn It to

John Rice

and the central our months of results financial first good the change report quarter today's of of other Well, Rice, call. for specific nine Board operational theme third is our and in the this in change in course product, is The for three our CEO. the the you. team and and in of and of of development John management culture, Interim corporate change Thank quarter this market, afternoon in our change in call The participants period welcome change strategies. general. in year our shareholders on the for purpose to joining to I'm us Chairman and your company's Directors company's change,

So I'm going you these. of through to walk some

in parts settings in AM to production Metal are First, the dedicated current very market's change the in the manufacture important year. capacity

it that machines use be principal prototyping to the although and So research. manufacturing metal continues

strategies billion executing to the $X over companies year has GE enter number enable of an We past are in a purchasing December Arcam AM the resources to forecasted captive and sufficient month manufacturing production. Metal XX news to of enable AirBus XXXX. machines increasing own by in Meanwhile to them themselves that the Concept meet seen that forecasts. parts buying to their that has in be Europe, are have are Laser Wohlers will spent tons

such adding been seeing as new providers as Here we're [indiscernible] acquired to seeing such independent production companies own. large in wishing by also bureau the United Linear substantial secure and service States to Moog capacity service are capacity their we build

Now we also their with These equipment to with targeting that single manufacturing and machines prototyping. manufacturing the banks machines chambers, multiple features as additive larger year, materials. are concurrent such that are are developments dedicated the production integrated manufacturers coming in of past that seeing machines rather to course with of clearly production use contemplate dedicated lasers, machines design in are than market these

control are and and are the deliver So with it in algorithm, in friendly the how of production happened managed and five machines month based modules a market volumes important multiple packages product a with to way. they many able they to course growing point than with fashion in you're Sigma I've up for two what can combined In introduced the the at actionable also equipment iterations be that modules we alignment in mentioned there's this cloud. the to to months, scale past manufacturing just accessible widespread they in AM and and that to known market. the operators TED oversee new built that market trying into Version Meanwhile, you're response here X.X. don't precursors. are changes product and when release on change AM no of machines announced - of the we're these Version a are single user on the will and offerings information occur. the better X.X this And of in software by is has time. And is laser developed these coming developments are These limit tipping Version five know and introduced being But include product. change have to necessary seeing are waiting when year, them. they X.X The PrintRiteXD ten grow

function. to So Sigma I our form be just appear architecture, talk to change in business, and culture. want aligned. in about the manufacturers In as follows

and by Mike's technology moved in I engineering new our its deep from customer to additive The Officer to changes when a we development to and and research order as and market Mark retained cited these to companies, technologies hunter the came management product Chief Sigma and as have a money, was above company is Financial and Sigma broadening itself in growth. that Officer, Garofalo, because want culture. means to recent maturity manufacturing converging assembling of aligning company Frank design is change just functions in service-based sales to part aligned. culture entered to Toups our to base on our a in anchor a to brought grew to to our CEO growing digital process, the into This and in customer a year rapid Co-Founder are CTO support, strong need. to post research exit process them that a head Interim all and team. R&D our means And our as space. marketing, to management inspection. in Sigma in we in August, from of digital due other including new XXXX a leading team of I the that cited business companies change Mark culture into reconfigure about past our company professionalizing culture. a Nannette grow many years in company doubled Sigma by a in in experience as compelled And EBITDA experiences joined an structure implemented and technology the quality our XXXX Director depth not collecting combined company process a to turn being that in compelled with operating through from as all I with sales dedicated CPA the Financial brought metal with announced in prior pathway full-time development CEO that M&A way so and intellectual explore management the installation, to merger. This that the R&D drive development, team. over members to challenges in start-up and revenue talk and The to and technical products in company simulation, control, of primarily the property, Chief are Cola, as a adapting changes to down our and to product strategy breadth technology market our

Now of will assurance is we hit at. having aiming we're no that this course what it, target but that's

about to in operational want I change talk our Finally strategies.

on As some limited company of forward the growing the of customers and other forward all alterations niche that emerging with I've these production production already have quantities targeted and a parts we in result with the and going of of that. are sales of that changes going effort market described, our internal just in

affiliates results those which in a sales R&D additional of evaluation with installations, pass other will We would into criteria, and companies limiting our specific relationships. or only be one be their if short-term test we leverageable the

the single of meaning into is PrintRiteXD by working potential into made The with leverageable for customer. recent simply sales pivot these So of production more niche per from significant PrintRiteXD use pivot is more possible potential installations and higher this customers R&D target selling aimed towards units the our growth at niche. customers

are You don't the the go redirected. fishing as somewhat efforts flattens niche. and appearing so short are such aren't In good that term, revenues in it's pivot running, some a where folks the fish

will the higher start However, it we in driving revenue. really envision midterm

changes the market team, of strategic our to our around put, specialization along many metal simply real the the place And as So adaptations management for that are is good all matures. taking culture with it the changing and in us. business expansion the and production

developments last on quarter make made. I've now So some I away turn and internal already to want some are the the from that during operations on the comments remarks there of quickly strongly

And operated of products to Industrial introducing and are active in to of turbine already of our and advanced facility in that group remind furtherance of our yes, to Woodward, this anticipate or announcements goal So manufacturing upgrading Sweden month. by installations sites are PrintRite X.X manufacturing buying the do aircraft Midwest. others, software Turbomachinery INSPECT by X.X course, that you Inc. within additive these first, growing we AM customer systems the we in opportunities to of delivery pleased Siemens our manufactured I'm of

Taiwan. our with the in forefront manufacturer's a Similarly relationships of global representative of with in agreement reach additive distributor Taiwan's expanded executing we our at manufacturing. in Northwest an into agreement with an our Digital-CAN there. Pacific So as is Jeta have Enterprises Digital-CAN key furtherance in with presence of we entered goal also expanding

the board your we management my that assembled remark have now that team conclusion simply believe So and is right team. your

We are we the truly have confident that product. right

are that meet strategies become market right are we and they to the emerging. they are as have needs the confident now working with We as

quarter the we Nannette pass and the will call small, CFO results will I with but and for our open right we to months financial to we So nine who now will questions. call the big. our that for mean And are go Toups, discuss Nannette? then

Nannette Toups

John. you, results Thank the operations. I'll and now discuss

During $XXX,XXX and cells. associated revenue XXXX. respectively was revenues and reduced $XXX,XXX adopter the dollars revenue The and compares The periods equipment recognized pricing $XXX,XXX from recognized new our periods partially nine primarily of months both programatic during to and programs. to programs, associated XX, those two three the earlier of for in September only ended by with same replaced but decrease that $XX,XXX was incentivized due with to manufacturer those sales partially due the we original

expenses were $X,XXX,XXX $X,XXX,XXX compares September the ended XX, for this for nine three the Our administrative and in general respectively months and same $XXX,XXX and XXXX. period to $XXX,XXX and

outside internal includes principally our services are and of in fees. service with the reporting an expenses outside The those obligations SEC we G&A largest in operating connection fees company. sales expenses component incurred Our service as

fees a in expenses related and resulted For increase approximately administrative February result offering that proceeds this of our net to offering. $X,XXX,XXX. as XXXX consequence general of principally public was and fee the period, in of the That

have an strategic in that also of the costs in increase in finance originated and had $X investing fees in interest connection We XXXX. million note October incurred due We've to with partners.

In addition latest to the services. PrintRiteXD to continued development efforts our expand enabled our technologies and of our IPQA

staff $XXX,XXX respectively in $XXX,XXX principally front expenses and and in three nine XXXX. to for XXXX compared in our payroll of to assist the ended the development expenses period and These were same XX, in $XXX,XXX enabled result administrative $XXX,XXX acceleration technology On increases PrintRiteXD salaries. months additional hiring that the for of as payroll and the IPQA increases September software are

Next, we'll stock-based the move compensation. to

granted each $XXX,XXX These due months ended XXXX. compare and $XXX,XXX period that cash. options in fees is XXXX. of XXXX, into $XXX,XXX $XXX,XXX September services increases the and Sigma stock-based three are Thus option vesting want XX, fact to stock and respectively. occurred the nine the that preserve periods the were the were in to September stock same stock mechanisms of to These one of know For and to pay quarter options more for after the XX, of same utilizing XXXX XXXX. put for than majority compensation to in respectively stock place has cost in We

Our and months the the The and compare $XX,XXX technology. nine three software and and ended increased September XXXX of $XX,XXX the for required to are research in for upgrades to contract with attributable were principally improvement and XXXX. and hardware same and periods development expenses $XXX,XXX. development for $XX,XXX software our consulting XX, combined These continued increases

expenses engage continue We we employees to IPQA Similarly, to of enabled increased sales will anticipate grow business. technologies as our PrintRiteXD we more our expenses increase compensation continue service seek efforts. other we the general administrative commercialization support and to our expect and and as and increase to providers our that to non-cash through payroll marketing further efforts

Our each a prior XXXX and to This and $X,XXX,XXX XXXX. revenue decreases comparative nine net periods was expenses months. went XX, in in and the increase and loss nine in the $X,XXX,XXX increased loss the the months for just attributable totaled the operating of quarter in September This increases to $X,XXX,XXX we compares of same over. and for three of periods for ended the $XXX,XXX loss year over third net

two In nine a to addition, in bottom first Mexico positive Sigma's our incentive participation of in programs line this contributed year. the months $XXX,XXX New employment

sheet course in a from in working John. and liabilities. of a surplus as February September capital $XXX,XXX capital. December the cash call working to to return financial plan in cash as us XXXX. us we good path raise This had capital This cash to XXXX approximately That position assets has puts $X,XXX,XXX improved and business a working XX, given As and on in give surplus execute of of balance X.X of to as results that the ability security $X,XXX,XXX and With forward. a raise compared continues of XXXX million with of million and had $XXX,XXX our primarily turn the to XX, position, solid it strong I'll back X.X capital

John Rice

wrap to very up management to the I questions We're go going to from standpoint. shortly. just want

We of continue the outlook to for be very Sigma. confident

we that. response market of continue to confident to was We development capability of management We to team are have that our very and and try assembled. intensity the the and thinking technology believe dedication our the we our to that that the to commitment with the of ensure lead increase and speed

that off? question the yet So does many we take considered question I'll is by many, ask and into market enormous to major are we they future working and a that when have to its it take ask That point. potential the is That people said reach questions. that is tipping

Operator

comes question first private Your investor. a Instructions] Tyron [Operator from Aaron [ph],

Unidentified Analyst

effect? you that agreements still technology which in that one other I have what but curious you materialized have know still are Just ongoing.

John Rice

it Yes is.

Unidentified Analyst

a Phase still to mid-XXXX, which time? DARPA anticipated anticipated have is in question around is I Also it III that about to end end Honeywell the

John Rice

all at we that The is will by end believe see expected parties that it time government all except of contract it. to when us

Unidentified Analyst

are to see What to conclusion Labs What that, of that the you do out what's program? for benefit that? be you at get trying the going with of Sigma

John Rice

of look looking They the internally. turning is helpful. actually at be questions out many capabilities very to have at That to we're

a us, people program and very purposes - and we darn good. we too. So able have It's to needs DARPA's as for helpful with use our really test are in they're that as work even the own to the delighted facility confirmation been

Unidentified Analyst

of the program? that to sales Are of end coincide you increase at anticipating

John Rice

I there; result as increase asked, sales had a little a an that you think expecting in we are up of program? You break

Unidentified Analyst

Yes, sir.

John Rice

don't into groups. it's so I other Honeywell say program products know of of outcome. a not would specific working But to directly, or market we're that that on tech companies, whether we things other how equate our build one high that knowledge with many it's

a no quantify probably technology opportunities, to significant anytime but the networking idea have that So leads sales to we work how that. like I program

Unidentified Analyst

you year, what could the last they by clarify meant that question, [indiscernible] statement. one earlier Just in

John Rice

will and look I can't say say. can what I I into

years have been on with appropriate forth. And develop improve pleased on to - try with and some teaming has cooperation our grow with them and so and this to EOS and has working relationship so techniques to We EOS continued and for that day. am I to with promise. it

Operator

private Your investor. next from a David comes question Robertson,

Unidentified Analyst

I'm and that's your little question. about hard quite to provide technology. The not in in talked not about that around movement specifics you're the to you and hands is asking So, question and market, understand And introduction you able a would little thing any provide. a better a color. changes bit to The could a get relative we maybe for change Sigma's general

in are even enough us have customers I lot fairness. that And in in a of give companies senses guaranteed business or we have all a of terms not you're with have specifics other partners; think you of of can anything But node you we us I'm broad again that working not asking, sense there with, that of variety sort sales. saw communications folks share ought guarantee. that a to lead a with a to our involvement

that been say potential real from these to only progress to that many with, say I you closer promise real that think fruition things us, variety other is is gaining fairness associations you in believe sense revenue and pretty you companies can with us fair ought that being have and - not with different good you are traction have you meaning, is folks, believe something now us you are and are you hearing long truly standing of already. these from of that Sigma that but you are truly which you're it's a made, customers this coming to tell If associated can that your folks. hearing a to that tell there close closely that

John Rice

approach of you. question I Thank the perceptive question. did up put you the A and to not

look in way at working four to you three customers marketplace and anticipation companies you a that stuff segues that into So is the day been in that call other the see what or additive conference research to today's began individual question with look the whom we the company, of really is and do past over manufacturing. have with to into of would Sigma for we they as customers years types a manufacture this the see XX

discovering calibrate the in they like companies and enough to operation, not where them most contract and will specific it additive changed process test we're good of out, when are Some were our don't program of bad see protocol your we problem. others do very business co-operative already. put in XX simply great in question. the actually, that of calendar, important space. months identifies is process and setting That's like XD those and is allows news day a means in have the companies to to in they than we they and company assess equipment. will support them begins we already the they yield news this do know. that. The the to, the it's reel what their for some machines own fact they're And are we quality Those that my does we GE their process making customer like a past XX want that those able is have But development. sometimes. a on absolutely already changed XX going the and many works may our a opinion with with part a are everything very are it's Sigma. assess far assures on parts with PrintRite that a now and a it terms we and to which predictable. are and way over in it were that company contract notion cost that we is allows faster is targeted be parts, to go what XX to their to but parts that for lay to the increasingly in good then tests manufacturing great are And we And in manufacturing a there time equipment first on the and working period, quality software not relationships well they companies parts examining how which them a Many companies of And with additive who and is major that and specific has and are Sigma What making it that a by are heart parts to is of their time between addresses The for relationship to close. metal the

Unidentified Analyst

within that what are so feedback companies And sort referencing, that feedback what sort you're context from of those you receiving. various of specific

John Rice

We're really pleased.

of not enables relationships. us It's do. discouraged to any them them to are exciting and those what to see We by to this

a it's remember, paradigm. product, Our new

to the they engineer problem when is, So about really means system. got have begins no see, got quality doesn't messing Sigma game of change. a you've sees this his beginning they to it finding with a the that scan, suddenly, an you've if who even quality you excited have But guy a normal want person a and that's relationship CAT

our we ago able being is a So at these very, from products a to different by this year made were very specific product be doing apply to what time. companies to transaction

Unidentified Analyst

you without some asking these the yet any, we know So give, could an you it fully expectation on that we is again, let for and will relationships that cannot any, answer acknowledge you me of materialize. without your spot as

John Rice

not were succeed we if at amazed this. to be would I Right.

Unidentified Analyst

That's answer. a reassuring

John Rice

clear pretty answer. a It's

Unidentified Analyst

one Can Okay. ask more? I

amongst and publicity kind a its the investors development. of is has investors GE's been time, about of of there's of that Sigma certainly new that talk but a a long it lot of amongst discussion there GE's about So concern for wave much

than Sigma's way There's between speaking, relates the asking a relationship generically and of now, that see that time is question not working what that is technology would of with way whatever for have had they sort know building exists of GE's and programs. you relationship Can lot of from GE better. and it's and that that the course a value, course long than development context they much Let for quality upon greater enormously pocket companies anything Sigma's status earlier staff in that, considered very And be ours, development software concern is IP to We in I'm to assurance the about concern a and context? and call very at, to any if an it, GE. protection Sigma's. in budgets me busy of what speak any but of to that concern intimate it look and or all standpoint just are

John Rice

Sure.

let's the go into first, So background.

they they this time things deal first is But what the was of so me And in really with none at marketplace have and were you, GE and has somewhat GE of product Sigma's company. do how they we to ran a the Sigma felt they rewarded kind changed so the described developed program absolute were in a look And was we stuff that that's things and what well when were that several the with into of that accurate now now beginning sense was path loose which report loose program do and by the not on case in One that out - in did point so stuff - from that both did not development. space wrote unintentionally to was the and Sigma how the as in sent effect in had to The were lab customer the thinking GE that about them to major adventure and is not a and GE course. going did iterations. had and that it left should fast we Sigma the install. it that and best its them that moving. at the people The of about fascinating more view GE whether view we their our And own and probably of architecture at much to they therefore about I it. to amend how they Sigma as relationship fact product in whether of and has tell the an with of it or as the as not as alpha the an was companies just keep so other discussions do was been in together to resulted entirely, on Mark get into fielded what do Cola into forth. can defined going and we Sigma we three have of or

Unidentified Analyst

extent didn't other stage the So report of today feel John, technology do was you that reported feel technology, you without under full than, all reported, the credit that stand what as we the at behind as at suggesting technology appreciative that of Sigma's even if are some the least the existed of technology, give to understand they the thinking at that time, stood which at GE's this here stage to we they that it and anything it on. was it even you whatever was they of

John Rice

Yes.

interpretation team, Our ended together we projects show. point manufacturing go get program these that let's and quite other gone on meant now some back to this the to manufacturing - of GE of one with sales. where of so from folks and of view. CEO Then, question a was additive that they stronger is That so the within has we fragmented. and outcome research need additive production, And data than that instruction is to a construct what with gathered and was the my going my move forward is it is, goals as major chose that are and

that cooperations program we first that have the that ended, them with both develop sides. confidence get looking lead each of relationships and the question you've your you they and to to and were probed did when continued. have to the back, other companies and neither you interactive kind first well collaborated yet, for, we our stuff didn't lead on And know working and not So they. on developed in right because The effort, did had on failed sales - that

business company do I'm be in them doing more need. they friends what we driving to have What with the have up that confident a and will we We and will that. sense we stuff is end in

Operator

Your [Operator from comes Labs. question May Sigma Kevin next from Instructions] [ph]

Unidentified Analyst

investor, not but from an hi, I'm I'm Sigma Well, Labs. John.

John Rice

when we your Kevin, were name. searching saw payroll our I records

Unidentified Analyst

throw is there, to go to deals. me my the question want on you distribution right But If ahead.

We been a revenue maybe have quarter. some might beat when had or have each any we at individually, color OE you for that and about to including those distribution? that the and Can where give are previous many year, now just this been longer on have

John Rice

they And to and is are they time with what have push establish, to movement. to do those I'll in is, you're or setting but exercise the we and done deals the tend processing have issue to essentially what okay, marketing. got. Orient that. and then can't that what our I OEM you of The problem in structures I agreements, we've the give OEM companies going I'm is want, on up is What and how you other agreements. pull you that to identifying. two types and can. you the do is rights what an one particularly of want There give are what sales this are be One have

I of in divided companies between like buying equipment if they my interested customer new interested we folks our companies, been with as are are one had that having for your with a have are if it markets, order remarks, was company And changes having that nine with goes there. of doing equipment of equipment, be in today an What with they're with we tipping that going a I equipment that large we Sigma going next sell and the that's to of the years who mentioned we all OEM prototypes. of large stuff it a in example without hugely their and stuff, almost if in a the in what places to yards production And over OEMs in in not very would two used discussions, full the particularly industry. for sort coming that is all of that happen it to order OEM And is the equipment would almost marketplace it. that opening will wish lot requested. I can because point talking putting lot whom say kind are the decisive as be were they venture So option the is yet for the

until want to the And so wait of we that to think person are kind enable there, saying, same have people so best their is hedging OEM production, the we in to people product the for us someone by into essential asks in way go the right it.

Unidentified Analyst

Okay.

offering our them, latest they will vice marketing the their software, that Sigma or mentioning Labs going play relationship from with is out. directly that a with how and their from With or XDSIMS be software versa standpoint findings, does with Flex how technology theirs correlating relationship forward

John Rice

is like the but interesting, it's new, product that's week. isn't this the Well, relationship - new,

results and way they had to to the module which unless this that the XD it XD they model would version bureau that with module, data that and is, not enables sell their to product or use of PrintRite to that it XDSIM be or customer confirm can use PrintRite PrintRite or a access product us it this to or of own XDSIM their a wish XD. So confirm a they enables Software, but service means to sale in then if couldn't works the of the can to prove user collect it we collect out, use

important think an - really we're So I forward, development going it. happy about it's it's

Unidentified Analyst

recent the mentioned on single And when version one of there any of working were right both achieved? regarding PRs laser is and that might they timeframe laser be on X.X, I technology, the capable now

John Rice

put I'm together that properly. sorry. I didn't question

Ask it again please.

Unidentified Analyst

machine multiple laser In is version said of single available of quality laser you X.X, measuring was single there of the the latest timeframe regarding it would machine? be any capable to laser machine, PR

John Rice

where Oh, but is can with. the and with I that's going obviously multiples. frame no time There markets that we're on with going share you,

Operator

[ph], Paul investor. a private question next Your from comes Parkin

Unidentified Analyst

outdated with version, release curious updated XL, have of Good afternoon. about because them they version contacted you the using of were an wondering the PrintRite was getting going the already the the quite were focus with America most they newest to and just I'm reports was despite how version PrintRite of getting I if report. GE be there Makes a Makes bit America

John Rice

version, goals accomplish, in do we so until was re-partner would we Makes upgrading they relationship upgrade. which existing is original and with America report I to there's of the have them to that no unless not accomplish on But anything new which The alpha/ end program and forward. what beta won't our would the doing and love be going we'd automatically Right.

Unidentified Analyst

relationships with of assuring pattern the them, parts. point they is PrintRite evaluating not manufacturer XD And is quality more PrintRite In at of companies there it these because those XD. you've and way as is why any this need they feedback get obviously talked from you consistent are copies purchasing in about on time, a to going

on. So feedback wondering PrintRite some acquired have are these touching hesitant you who that there so, these to and I'm the have multiple why users buy they're given commonality if sort about different is if XD units of people

John Rice

in is absolute in elongated far it's the they from point this it no to than to stage want of negativity There that is Sigma. of there's we give how news surprises them we who more issue flaw. of how alternative so idea getting tests. good this would can really is are see want their and at adverse what with not doing process is results the The line than feedback the recent can what good and on run we really you terms with know is Sigma about The of our things folks that and like many you based Wow, Gee, means you know And tests view early of good to in these is that manufacturing and guys, has and and buy outlook cooperation, consistency we're don't I much that their kind our thing. targeted per using are else group to I behaviors. decided se. work proceeds to nobody news think more is this time bottom customer. need - so It's what not group a bad

Unidentified Analyst

to ended. decision With that ongoing agreements kind are sort these and the make of on the to purchase test mind, a of are future in you kind play EAP limitation or open of before some they looking

John Rice

In the Heck you we educating actually how the we're up What doing the explicit is answer. XX and on And now have yeah changed a selling when front past for question. anything customer. we're do very process and that that, this properly is on upfront. dealt with stuff is days, them we it imposing is the work will do for and resistance not

we stuff So appetite forward get don't programs greater don't have if want because to going they who the that done. I of six folks kind - to folks work expect need what really we to with have to a months that's have want,

Unidentified Analyst

you given CFO, near basis, that start how Sigma has long past has of we be trend for some losses expenses the current going of fund the a to couple income this maneuver, Sigma the Given before in it's seen versus terms to companies have over and maybe unless term, that buy years? raising other some in Labs the have on PrintRite do anticipate to regular sustaining been

Nannette Toups

early like It's stage the certainly question right that. company for an

do answer I'll are on that best. there optimistically understand how can that, but You my I limits

current to close Our up up the carry sales. we if to balances no next would - had company summer cash

runway answer each question dollar is of increase sales. is And so the much with does the and how your

the question. So to operational with could - your indefinitely. we answer That's things that that happen answer hope will runway extend that is

that We on discouraged not are front.

them. haven't the go breadth market quality an try capital you to we to design. the post be full believe to fuel so through to our operating additional able to to of digital we Second, know, active digital in simulation from course because that really and like that, the back of we event and shares we acquire through grow to as final to the design pathway intellectual that strategy announced process would should offer then to market, we were reel both have companies additional assurance the In assets,

two us rapid things ourselves doing either the fast deals be success ramp great funds failure or raising more customer with orders enough be or due So enough to a would would achieve that to to a indefinitely up sustain cash. cause to

we're variables three managing the So on. those are that

Unidentified Analyst

front a printing financial couple it to a not ago, held in there was, whatever me was an six right hour meeting of annual indicated them a was and that focus no to contract read was it statement results about the I the In computer I do that on contract longer have now, ago there - me there of on a printing. seemed effect the but in of as weeks

going be is R&D still for I'm or point. in contract machine at Sigma So confused, this going used is there involved strictly be to to printing

John Rice

no I things. the for because longer equipment manufacturing major Contract That said, confusion following intent that. our created to that apologize I'm I'm are the of the be who is for Sigma. person initiative sure deemed a

with we manufacturing, that to First of continue all, contract the so to are current do marketplace.

us for really causes doing national and is in neighborhood marketplace our We it to useful in have way. design materials different of that laboratories of to because questions virtually. at a and them couple engaged in projects And stay look the

we prove important, we are change down making we with based have we could salespeople So the company it's not them become given we an activity, an and that from stuff on that operating can hall. company to profit that's have provided being Two, laboratory actually of one the is our tools things that as go an away a one. need changing R&D and

show we our on proofs software how demonstrations so so do will them allow so to machine and which and give to example are be going using of us more qualify And flaws our to to which us detects and allow materials, forth.

also. own take to So we Those other be efforts are using that research can benefit we people's place our machine while making parts will effort.

So revenue we They reject that's concurrently favor to plan. don't have go the of in can and research. forward

Operator

Thank you.

John to back time over to for remarks. turn conference Rice the like our I We questions. for now have session. closing would concludes This reached question-and-answer our allotted

John Rice

all you you time listen the taking interest appreciate Sigma. want us, join have to all for in of I Well, in. I thank to to the

its from when at takes will hear market really frustration be to there hang company the permit this going off, because be than want faster others and just because with it. in I shareholders moment growing our this hear Sometimes, you'll they I saying,

hope successful. this I be so technology the you'll And to to dedicated team patient. in is have dedicated that making we and place The

you good thank So and night.

Operator

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

You disconnect. now may

NextTrip (NTRP) 14 Nov 172017 Q3 Earnings call transcript