Staramba SE exceeds revenue forecast for 2017 – Significant expansion of digital business

Staramba SE (XETRA: 99SC) generated sales revenues of EUR 16.1 million in the financial year 2017 (previous year: EUR 2.1 million, +670%). The virtual reality pioneer was thus able to slightly exceed its in April 2017 raised sales forecast of EUR 15.9 million. This was largely due to the increasing focus on the digital business, which has developed into the third pillar alongside the segments 3D scanners and 3D figures.
Sales in the financial year 2017 resulted from a healthy mix of the 3D-INSTAGRAPH® photogrammetry scanner developed by Staramba, the photorealistic 3D figurines, and the associated 3D files. In addition, the first significant revenues were generated with the virtual reality network STARAMBA.spaces.
The following highlights have shaped the financial year 2017:
In April 2017, the acquisition of Staramba USA Corp. (SUSA), based in New York, also increased Staramba’s stake in Social VR GmbH to 96%. Subsequent to the takeover, all content including personnel and inventory of SUSA and Social VR GmbH were taken over in the form of an “asset deal” and the shares of the companies were sold. The employees of SUSA and Social VR GmbH were integrated into Staramba’s business operations. The combination of the two units underscores Starambas’ growth strategy and willingness to occupy a leading position in the market. Since then, Staramba has not only been a supplier of high-end scanners, innovative 3D print products, and 3D data but also of 3D avatars and VR software.

Starambas lighthouse project STARAMBA.spaces has tied up most of its resources in the course of the year, but this is reflected positively in the sales development of the VR network. In the VR network STARAMBA.spaces, developed by Staramba and the only one worldwide, users can interact with international stars from sport, music, and entertainment. It was presented in a first alpha version at the International Consumer Electronics Fair (IFA) in the past autumn.
In the year under review, the 3D-INSTAGRAPH® was continuously enhanced and a new version of the 3D-INSTAGRAPH® “Fusion” was launched in the middle of the year. The “Fusion” scanner is the world’s first 3D photogrammetry system scanner that eliminates the need for costly post-processing of 3D data and enables 3D scanning of people in a fraction of a second.

The digital 3D business also developed positively in the course of the year, with digital avatars and commissioned work exceeding own sales expectations.
In November, Staramba announced the release of its own digital currency, ROYALTY, for the social VR network STARAMBA.spaces. ROYALTY has the potential to revolutionize the global licensing industry and will be used within STARAMBA.spaces as a first step. With its own brand currency based on blockchain technology, Staramba SE can thus profit from the expected growth in the virtual reality (VR) market due to the extreme scalability of its revenues.

“Promised and delivered is our commercial maxim. We were not only able to grow significantly in the past fiscal year, but also laid the foundation for a solid growth story. This includes, in particular, our investments in virtual reality and augmented reality technologies. The future belongs to both, especially because people can meet virtually anywhere in the world and at any time. We are one of the pioneers in the VR sector and are therefore well positioned in the market and look forward to an exciting future,” says Christian Daudert, CEO of Staramba SE.
The key figure contained in this press release is a preliminary figure, based on an initial analysis of the management’s business operations for 2017 and is subject to change. Staramba SE plans to publish the final, audited results of the financial year 2017 as well as a forecast for the financial year 2018 with the annual financial statement report on 27 April 2018.