6K Additive (ASX: 6KA) reported higher revenue and a record order backlog in its latest quarterly results, as growing demand for metal powders continues to push the company to expand production.The Pennsylvania-based manufacturer is seeing more business from defense, aerospace, and industrial customers, while moving ahead with a major expansion of its U.S.manufacturing operations.
According to its latest financial update, 6K Additive generated $7.2 million in revenue during the third quarter of 2026, up 61% from the same period last year.Revenue was only a bit higher than in the previous quarter, but the company’s metal powder business continued to grow.In fact, metal powder revenue reached $5.5 million, up 72% year over year and 10% from the second quarter.
Its alloy business, which supplies materials to the aluminum industry, brought in another $1.7 million, up 34% from a year earlier but down 19% from the previous quarter.New orders were particularly strong during the quarter.Customers placed $12.3 million in metal powder orders during the quarter, up 43% from the previous three months.
That was more than twice the revenue the powder business generated during the same period.As a result, 6K Additive ended September with a record order backlog of $18.1 million, up 52% from the end of June.The company says demand is now growing faster than its existing production capacity can handle.
One of the labs at 6Ks headquarters in Massachusetts.Image courtesy of 3DPrint.com/Vanesa Listek.Nickel alloy powders were strong, with sales increasing 50% from the second quarter.
Demand came from defense customers, equipment manufacturers and contract manufacturers.The company also reported a record $700,000 backlog for refractory alloy powders, including materials based on tungsten, niobium and tantalum.Another important development was 6K Additive’s agreement with ADDMAN, announced at the end of September.
The 30-month deal is valued at $8.1 million to $10.8 million and covers Alloy 718 powder supply, dedicated inventory and recycling of used material.It is the largest long-term supply agreement 6K Additive has secured to date.“The ADDMAN agreement, 50% sequential growth in nickel powder sales and a record refractory alloy powder backlog all point to the same thing: demand for our materials is accelerating,” said 6K Additive CEO Frank Roberts.
“At the same time, we continued to improve manufacturing productivity and operational performance while investing in the capacity our customers need.” Frank Roberts from 6K Additive at AMS 2024.Image courtesy of 3DPrint.com.Expanding Production in Pennsylvania To keep up with demand, 6K Additive is expanding its manufacturing campus in Burgettstown, Pennsylvania.
The project will increase production capacity and bring more of the company’s operations together at one location.Construction moved forward during the third quarter, with much of the groundwork completed and new buildings going up.The company expects to begin testing the new powder production equipment by the end of 2026 and increase production in early 2027.
The company also plans to move its metal powder production operations from California to Pennsylvania to cut costs and make production more efficient.It also wants to handle more of its titanium processing itself, rather than paying outside companies to do it.The expansion is supported by U.S.
government funding.Earlier this month, 6K Additive finalized a $27.4 million loan agreement with the Export-Import Bank of the United States.The financing will help pay for new buildings and manufacturing equipment and adds to the company’s existing support under the Defense Production Act Title III program.
6K Additive leadership team officially breaking ground for the expansion.Image courtesy of 6K Additive.More Cash Coming In, More Spending Ahead 6K Additive also saw an improvement in cash flow.
The company is still spending more cash on its operations than it brings in, but the gap is getting smaller.During the quarter, it used $2.4 million in cash to run its business, down from $3.1 million in the previous quarter.Cash received from customers rose 32% to $7.9 million.
Meanwhile, spending on buildings and equipment increased to $3 million, up from $700,000 in the second quarter, as work on the Pennsylvania expansion picked up.Looking ahead, 6K Additive expects to spend $10 million to $11 million on buildings and equipment this year, slightly less than previously planned, with another $14 million expected in 2027.While the company has not provided a revenue forecast for the final quarter of the year, it expects its new production capacity to help it meet growing demand.
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