Record revenues for Robo 3D as plans for expansion continue to build

Robo 3D (ASX: RBO) has achieved record monthly revenues for the month of October with $1.3m from the sale of its 3D printers.

The revenue result is 30% higher than its previous monthly record achieved by the company and represents a more than 40% lift in revenues from the full 12 months of the prior financial year.

The company states that it expects to continue its strong performance and surpass full year revenues from FY17 of $3.2m, within the first half of FY18, as announced on 31 October.

Managing Director of Robo 3D Ryan Legudi attributes the increase in sales revenues to the hard work and dedication of the team over the following 18 months, bringing not one, but two, award-winning 3D printers to the market.

“[The result] also reflects the growing profile and reputation of our products across our target segments,” stated Mr Legudi.

Robo R2, the company’s most advanced 3D printer, was a leading contributor to the sales performance. Going for US$1,499.99 on the company’s website, the printer can be connected via wifi and a mobile device.

The more basic R1+ model sells for US$499.99, allowing for a lower entry level price point for the technology.

Robo 3D plans to continue aggressive expansion of its customer base and distribution reach, actively seeking opportunities with partners in the US and internationally.

As part of this strategy the company plans to target a number of industry verticals, including education.

RBO shares were up 11% in early afternoon trade.