AML3D Ltd (AU:AL3) has released an update.
AML3D Ltd has reported strong quarterly earnings with cash receipts of $1.84 million, driven by its successful US ‘Scale up’ strategy, particularly with the US Navy, and sales of its ARCEMY® industrial 3D printing systems. Despite a $0.76 million operating cash outflow due to investments in expanding its US team and technology development, the company is optimistic about achieving record revenues in FY2024. AML3D is also bolstering its growth strategy by establishing a new manufacturing hub in the United States to tap into the lucrative aerospace and defence sectors, backed by a $3.9 million capital raise.
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