Sigma Labs Announces Third Quarter Financial Results

Programs Launched to Accelerate Growth Heading Into 2016

SANTA FE, N.M., Nov. 10, 2015 (GLOBE NEWSWIRE) -- Sigma Labs, Inc. (OTCQB:SGLB) ("Sigma Labs" or the "Company"), a developer of advanced, in process, non-destructive quality inspection systems for metal-based additive manufacturing ("AM") and other advanced manufacturing technologies, today announced financial results for the three and nine months ended September 30, 2015.

Recent Highlights

  • Posted revenue of approximately $0.3 million for the quarter and $0.6 million for the first nine months of 2015, versus approximately $0.1 million and $0.3 million for the same periods, respectively, in 2014
  • Launched new business development initiatives to drive higher customer adoption – Sigma Labs' OEM Partner Program and Early Adopter Program (EAP). Each makes it easier for potential clients to install and evaluate Sigma Labs' proprietary PrintRite3D® software applications. Spartacus3D of France signed as the first EAP participant
  • Announced the commercial availability of PrintRite3D® CONTOUR™ (formerly known as PrintRite3D® DEFORM™) and provided to initial customer Honeywell Aerospace under contract
  • Signed an agreement with Additive Industries of the Netherlands for further evaluation of Sigma Labs' PrintRite3D® products. The applications will be integrated into an Additive Industries' MetalFAB1 prototype machine; this contract builds on the previously-announced Technology Cooperation Agreement with Additive Industries signed in December, 2014
  • Contract manufacturing and prototyping business continued to expand as AM machine capacity fills
  • Hosted the Fall Meeting of Edison Welding Institute's (EWI) Additive Manufacturing Consortium October 28-29, 2015 to demonstrate the Company's technology and manufacturing capabilities

"Sigma Labs showed great progress this quarter both in terms of revenue growth and setting the stage for improved performance going forward," said Mark Cola, President and CEO of Sigma Labs. "We launched two new sales initiatives – the OEM Partner Program and Early Adopter Program – to make it easier and more attractive for potential customers to try our software applications and evaluate them in real-world environments. The programs have gotten off to a great start, and we are in discussion with a number of companies across the globe to embed our software packages into their machines or have them assessed in specific industrial processes. Overall we're very pleased with the market reaction and look forward to exhibiting our products at the formnext show in Frankfurt this month.

"We also recently hosted the Fall Meeting of EWI's Additive Manufacturing Consortium, which served to showcase our PrintRite3D® applications and contract manufacturing capabilities to a large number of industry participants. We truly believe we're seeing increased traction within the market and expect strong top line growth heading into 2016."

2015 Third Quarter and Year-to-Date Financial Results

Revenue for the three and nine months ended September 30, 2015 was approximately $0.3 million and $0.6 million, respectively, versus approximately $0.1 million and $0.3 million for the same periods in 2014. The Company reported a net loss for the three and nine months ended September 30, 2015 of approximately $0.6 million and $1.4 million, respectively, or $(0.00) per diluted share, versus a loss of approximately $0.5 million and $2.8 million, or $(0.00) per diluted share, for the same periods in 2014. The prior-year nine month period included a nonrecurring warrant expense of approximately $1.3 million.

Investor Conference Call

The Company will host a conference call to discuss its 2015 third quarter financial results today, November 10, 2015, at 11:00 a.m. Eastern Time. To participate in the call, please dial toll free 1-888-243-4451, or 1-412-542-4135, approximately five minutes before the conference call time stated. A live webcast of the call can also be accessed on the Sigma Labs website at A recording will be available on the Company's website upon completion of the call.

About Sigma Labs, Inc.

Sigma Labs, Inc., through its wholly-owned subsidiary B6 Sigma, Inc., develops and engineers advanced, in-process, non-destructive quality inspection systems for commercial firms worldwide seeking productive solutions for metal-based additive manufacturing or 3D printing, and other advanced manufacturing technologies. For more information please visit us at

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often contain words such as "expects," "anticipates," "intends," "believes" or "will." Our forward-looking statements are subject to a number of risks, uncertainties and assumptions that could adversely affect us, including the risks set forth in our most recent annual report on Form 10-K. The forward-looking statements in this press release are made only as of the date of this press release. We undertake no obligation to update our forward-looking statements, whether as a result of new information, future events or otherwise.

Sigma Labs, Inc. and Subsidiaries
Unaudited Condensed Consolidated Statements of Operations
Three Months and Nine Months Ended September 30, 2015 and 2014
  Three Months Ended Nine Months Ended
  September 30, 2015 September 30, 2014 September 30, 2015 September 30, 2014
Services  $ 266,566  $ 92,449  $ 648,515  $ 322,091
Total Revenue  266,566  92,449  648,515  322,091
COST OF SERVICE REVENUE  25,250  36,326  138,379  176,954
GROSS PROFIT  241,316  56,123  510,136  145,137
Other General and Administration  293,187  243,375  886,965  564,581
Payroll Expense  191,399  84,865  338,533  387,564
Non-cash Stock Compensation  221,500  215,550  478,500  566,950
Warrant Expense  --   --   --   1,283,333
Research and Development  122,517  52,710  206,545  147,683
Total Expenses  828,603  596,500  1,910,543  2,950,111
Interest Income  265  939  1,137  2,721
Interest Expense  --   --   --   -- 
Loss on Investment in Joint Venture  (108)  --   (108)  -- 
Total Other Income (Expense)  157  939  1,029  2,721
INCOME (LOSS) BEFORE INCOME TAXES  (587,130)  (539,438)  (1,399,378)  (2,802,253)
Current Income Tax Expense  --   --   --   -- 
Deferred Income Tax Expense  --   --   --   -- 
Net Income (Loss)  $ (587,130)  $ (539,438)  $ (1,399,378)  $ (2,802,253)
Loss per Common Share - Basic and Diluted  $ (0.00)  $ (0.00)  $ (0.00)  $ (0.00)
Weighted Average Number of Shares Outstanding - Basic and Diluted 623,483,422 616,610,626 622,493,895 607,463,863
Sigma Labs, Inc. and Subsidiaries
Unaudited Condensed Consolidated Balance Sheets
September 30, 2015 and December 31, 2014
  September 30, 2015 December 31, 2014
 Current Assets    
 Cash  $ 1,836,855  $ 2,962,069
 Accounts Receivable, net  177,717  117,726
 Inventory  111,853  56,175
 Prepaid Assets  58,477  29,986
 Total Current Assets  2,184,902  3,165,956
 Other Assets    
 Property and Equipment, net  744,156  803,027
 Deferred Stock Offering Costs  95,511  95,511
 Intangible Assets, net  106,111  95,847
 Investment in Joint Venture  9,892  -- 
 Total Other Assets  955,670  994,385
TOTAL ASSETS  $ 3,140,572  $ 4,160,341
 Current Liabilities    
 Accounts Payable  $ 82,190  $ 309,698
 Customer Deposits  62,393  -- 
 Accrued Expenses  61,676  44,652
 Total Current Liabilities  206,259  354,350
TOTAL LIABILITIES  206,259  354,350
 Stockholders' Equity     
 Preferred Stock, $0.001 par; 10,000,000 shares authorized;    
 None issued and outstanding  --   -- 
 Common Stock, $0.001 par; 750,000,000 shares authorized;    
 623,594,835 issued and 620,219,835 outstanding at September 30, 2015 and 619,741,061 issued and 612,741,061 outstanding at December 31, 2014   623,595  619,741
 Additional Paid-In Capital  10,000,184  9,798,288
 Less Deferred Compensation    
 3,375,000 and 7,000,000 common shares, respectively  (422,250)  (744,200)
 Retained Earnings (Deficit)  (7,267,216)  (5,867,838)
 Total Stockholders' Equity   2,934,313  3,805,991
CONTACT: Investor Relations Contact:
         Chris Witty
Source: Sigma Labs, Inc.