voxeljet AG (VJET) IPO has Strong Start as 3-D Printing Sentiment Continues

voxeljet AG (NYSE: VJET) shares are up about 80 percent Friday following an IPO of its American Depositary Shares (ADSs).

The company priced a 6.5 million offering at $13 per ADS, which was to the low-end of a previously expected range calling for a price of $13 to $15 per ADS.

Piper Jaffray and Citigroup ran voxeljet's offering.

On financials, the company gave a brief summary with its F-1 filing: Our revenues have grown to €8.7 million in 2012 from €4.8 million in 2010, representing a 35% compound annual growth rate. Our total backlog of 3D printer orders at June 30, 2013 was €5.1 million. Our backlog has grown steadily as we continue to experience growing demand for our 3D printers.

For the years ended December 31, 2012, 2011 and 2010, our backlog was €3.7 million, €1.7 million and €0.1 million, respectively. Our backlog, which consisted of seven 3D printers as of June 30, 2013, represents 3D printers for which a customer has signed a purchase order, but which we have not shipped yet. We estimate that the vast majority of systems in our backlog will ship prior to December 31, 2013, with the remainder expected to ship prior to June 30, 2014.

voxeljet AG is a leading provider of high-speed, large-format 3D printers and on-demand parts services to industrial and commercial customers.

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