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      What Raised SHPW Stock 12% Higher Pre-Market?

      By Fahim Awan

      Published on

      July 26, 2023

      9:50 AM UTC

      Last Updated on

      July 26, 2023

      9:51 AM UTC

      What Raised SHPW Stock 12% Higher Pre-Market?

      In the pre-market session today, Shapeways Holdings, Inc. (NYSE: SHPW) experienced a notable surge, with its shares rising by 12.87% to reach $4.21.

      This positive momentum came after the stock had closed the previous session at $3.73, representing a decrease of -7.90% or -$0.32. SHPW stock decline was offset by the announcement of securing a couple of significant contracts.

      Which Contracts Has SHPW Secured?

      Shapeways (SHPW) has made significant strides in expanding its medical customer base through its Enterprise Manufacturing Solutions business.

      By securing two crucial contracts, the company foresees a substantial boost in revenue, estimated to be around $2.5 million annually for the next three years.

      Functioning as an FDA contract manufacturer, SHPW plays a pivotal role in driving medical sector innovation.

      The company’s additive manufacturing services enable medical clients to achieve remarkable growth by providing them with high-quality, personalized products in a matter of days.

      Among its diverse medical clientele are providers specializing in tailored orthopedic solutions, patient-specific surgical guides, and innovative sleep aids.

      Through the segmentation of data from DICOM images, Shapeways empowers the creation of highly customized medical aids and devices using additive manufacturing techniques.

      These advancements have significantly enhanced precision in surgical settings and have yielded remarkable improvements in patient outcomes.

      The ability to produce patient-specific medical devices at scale and with exceptional quality sets Shapeways apart as a market leader and is a defining aspect of the company’s success.

      Working in close collaboration with its medical customers, Shapeways tailors manufacturing solutions to support their business growth.

      This includes the establishment of clean-room environments, providing custom packaging options, and offering dedicated equipment for medical-use products.

      These measures effectively minimize the risk of product contamination, elevate the patient experience, and contribute to better patient outcomes.

      In addition to its medical endeavors, SHPW has recently introduced a game-changing feature – the 3D Model Viewer for its software deployed via the MFG brand.

      This eagerly awaited feature is now live on the platform, significantly enhancing the quoting experience for manufacturers.

      As a result, there is a noticeable increase in qualified leads, improved customer experiences, and a more enriched sales cycle.

      Alongside this innovation, SHPW has also given a modern facelift to the MFG brand, further solidifying its commitment to cutting-edge technology and customer satisfaction.

      How SHPW Will Move Ahead?

      Shapeways (SHPW) continued to be at the forefront of driving innovation in the medical and manufacturing industries, constantly pushing the boundaries of what’s possible.

      With its unique capabilities and dedicated approach to customer satisfaction, SHPW is poised for further growth and success in the coming years.

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