3D Printer ExOne Files for an IPO

It's looking to grow in a suddenly hot tech market

ExOne, which is a developer of 3D printing technology, has filed to go public. Founded in 2003, ExOne builds 3D printing machines for industrial customers. It also sells associated products like consumables and replacement parts.

ExOne’s 3D printers manufacture casting molds and cores that are based on speciality silica sand and ceramics. They also handle other materials like titanium, tungsten carbide, aluminum and magnesium.

All in all, ExOne is a fairly small company. For the first nine months of 2012, revenues came to $15.9 million, up from $12.6 million in the same period a year before. During this time, its loss went from $5.3 million in 2011 to $11 million in 2012.

Yet ExOne has snagged a variety of top customers. They include Boeing, Ford, Caterpillar and Tesla.

The market potential is also attractive. According to a report from Wohlers Associates, the 3D manufacturing segment is expected to grow from $1.7 billion in 2011 to $6.5 billion by 2019. 3D printing is coming on fast and made a big splash at this year’s Consumer Electronics Show in Las Vegas. And one of the hottest stocks around (perhaps too hot?) is 3D Systems.

The lead underwriter for ExOne’s offering is FBR Capital Markets, and the company plans to list on the NASDAQ under the ticker of XONE.

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