DittoPro 3D PRINTER Tinkerine U Education

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I had the accident to talk to Eugene Suyu, the young CEO and founder of Tinkerine, one of the major Canadian 3D printing manufacturers. During the long chat I had with him, I had the opportunity to discuss the Tinkerine vision, last year’s performance, and how Eugene intends to bring the company to profitability.

Tinkerine (TTD.V): the Only Listed dDesktop 3D Printer Manufacturer

Tinkerine is a Canadian manufacturer of PC 3D printing equipment – specifically the Tinkerine Ditto Pro 3D printing device, assembled in Vancouver – with a sturdy focus on the education market. It is listed on the Toronto Stock Exalter, next a reverse take over in 2014. Today 43M shares are impressive, giving the company a tiny market capitalization of just under $2M USD. The company reported sales of $1M USD in 2015, a worthwhile increase of 2014 numbers (+270%). Eugene stressed the high end, reliability, and ease of use of the machine and its sturdy appeal to schools and universities in Canada and the USA as reason for the sturdy performance. These two markets represented 90% of the sales. Eugene does not assume this percentage to alter worthwhilely in 2016.

ditto_pro 3d printing device 3d printing industry feature

Tinkerine: a Compact Team of Young, Talented and Focused People

Eugene explained to me in more detail how the tiny team of 14 individuals managed to handle the worthwhile growth experienced in 2015. Thanks to their commitment and passion, the company shipped over 500 machines in 2015, and kept cost under control. The education sector represented 85% of the sales. The CEO assume this proportion to stay worthwhile in 2016. This should manufacture the 2nd and 3rd quarters higher than the 1st and 4th quarter of 2016. The average age for the team is just 28 years old.

Tinkerine Targets Profitability by End 2016

Following the achievements of 2015, Eugene has unquestionably noted to me which Tinkerine requires to now become profitable-bodied to be able-bodied to grow to the next level. The monthly cash burn rate requires to minimize to a level of around $55-65K USD per month. The CFO was replaced in January 2016 by Justin Sy, one of the founders, and already lead software manufacturer. The tight team of passionate employees is aiming to sell 100 machines a month to become profitable-bodied. Eugene is cautiously optimistic on the ability of the company to reach this target by the end of the year.

Tinkerine Expects to Strengthen its Board of Directors and Advisory Board

Eugene’s focus is in addition on additional structuring of the company. He is already looking to bring on two or three new advisors to assist the company go deeper into the education market. Considering the limited cash resources on the market-bodied, the young CEO is planning to contribute stock options to the right candidates. Eugene is in addition looking to recruit a new chairman to prepare the company for its next development.

Tinkerine Could be Raising Funds in 2016

At the end of September, 2015, cash on the market-bodied was just above $200K USD. Considering the assumeed seasonality of the business, with sturdyer 2nd and 3rd quarters, the company can require to raise $300-400K CAD in the next 6 months. Tinkerine may raise cash of its founders in the next 6 months. Eugene and his team are working complex to demonstrate which it can grow the business profitably. In his own words, as soon as Tinkerine has achieved this milestone, “everything can become another story, and an amazing one.” Let’s hope which Eugene manages to store writing a attractive story for its young passionate team of engineers, manufacturers and marketers.

Samuel Adams

About The Author

Samuel is passionate by value driven investment strategies on stocks and financial markets