AMT has announced that “in response to the recent global economic downturn and the slowdown in 3D printer sales”, it is commencing a strategic restructuring of its business model. The restructuring focuses on sustainable growth and profitability, through “streamlining” its workforce and “consolidating” roles across the business.
Joseph Crabtree, AMT’s CEO said: “These are challenging times for our industry, and we’ve had to make some tough decisions. Our workforce reduction was one of the toughest decisions. We regret the loss of so many team members. We value their contributions and we are committed to helping them transition.
“However, it’s critical that we adjust our business to align with the current market realities. Despite these challenges, our order book remains strong, and we project our revenue for this year to be in the range of £11-13 million, with a clear path to profitability in Q4.”
As part of the restructuring process, AMT says that investors in the company have provided “additional capital” that will support the transition towards profitability and cash flow positivity.
AMT claims that it will continue to focus on innovation despite the challenges. The company also announced that it would continue to roll out PostPro Pure, which they claim is the greenest consumable available for 3D-printed parts. It also launched its Digital Manufacturing System, with the first units having already been shipped to customers in America.
Crabtree added: “Innovation remains at the heart of what we do. With these new product launches, we are adapting to the changing market demands and ensuring we deliver advanced, sustainable solutions to our customers.”
AMT announced changes to its strategy for engagement. Giorgio Ioannides, Head of Sales at AMT said: “We have decided to refrain from exhibiting at in-person trade shows this year, choosing instead to support our partners at these events. This will allow us to focus more intensely on our existing clients and streamline our efforts.”
Gavin Minton, Director of Commercial Operations at AMT said: “Our core team remains in place, and we are committed to providing the same level of exceptional customer support during this period of transition. We will continue to serve our customers with the level of service they have come to expect from us.”