New Product Launches in Industrial Segment
The company introduced the MJP 300W Plus at the Istanbul Jewelry Show, improving productivity by 30% and reducing waste by 20% in the jewelry market. Customer feedback has been positive and orders have already begun.
Advancements in Dental Market
Launched the NextDent Jetted Denture Solution in the U.S., with placements in leading dental labs. The market opportunity is projected to reach $1 billion in industry revenue across the U.S. and Europe.
Growth in Saudi Arabian Initiative
Secured strategic investments from Saudi Electric Company and partnerships with Lockheed Martin for defense and aerospace components, showing progress in the Saudi Arabian Growth Initiative.
Strong Cost Management
Operating expenses were reduced by 24% year-over-year, reflecting the impact of cost reduction initiatives with a target of over $50 million in annualized savings by year-end.