22 March 2023
NUBURU expects revenue to double to over $3m for 2023
NUBURU Inc of Centennial, CO, USA says that, for full-year 2023, it expects revenue to more than double year-on-year to over $3m.
Founded in 2015, NUBURU is a developer and manufacturer of industrial blue lasers that leverage their high-brightness, high-power design to produce fast, high-quality laser materials processing, including laser welding and additive manufacturing of copper, gold, aluminium and other industrially important metals. The firm’s industrial blue lasers are claimed to produce defect-free welds up to eight times faster than the traditional approaches — all with the flexibility inherent to laser processing.
“We exited 2022 with commercial success as we began making deliveries to our key customers including Essentium and AFWERX. Early in 2023, we launched our latest product, the NUBURU BL Series, which we expect to start shipping in Q2,” says CEO & co-founder Dr Mark Zediker. “We expect 2023 to be another year in which we achieve critical milestones that continue to enable the customer adoption of our solutions in our rapidly evolving markets,” he adds.
“We continue to review and make necessary adjustments to our product development roadmap to be aligned with our current and prospective customer relationships and to best utilize our company resources,” Zediker continues. “As such, we expect our 2023 revenues to be weighted towards the second half of the year. We anticipate that momentum will provide the critical foundation for additional revenue acceleration in 2024.”
Also for full-year 2023, NUBURU expects EBITDA (earnings before interest, taxes, depreciation and amortization) of negative $21-23m and free cash flow of negative $24–26m. “As we’ve completed our transition to being a public company and look to solidify our competitive position, we expect to engage with the financial markets to strengthen our balance sheet,” notes chief financial officer Brian Knaley. “We intend to utilize additional funding sources to allow NUBURU to accelerate our growth trajectory by enabling us to further invest in technology and other resources designed to drive our growth in 2023 and beyond.”
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