Evanston, Illinois – October 17, 2022 – QuesTek Innovations, the primary operating subsidiary of QuesTek International LLC, today announced the year-to-date results from its strong third quarter of fiscal 2022.
Financially, Record Revenues through Q3 2022 surpassed Q3 YTD 2021 Revenues by over 22%, with greater than commensurate year-over-year growth in YTD Operating Income. Cash flows for the quarter augmented QuesTek’s solidly cash-positive and debt-free positions.
Operationally, the quarter saw numerous service engagements newly signed or advanced by milestones. New or add-on signings were secured with corporate clients Resideo, Daido, Chevron, International Watch Company, John Deere, and MxD. The company also recorded new government awards from the Office of Naval Research, NASA, and the Department of Energy, while completing satisfactory close-outs on several large-scale Army contracts.
On the innovation front, QuesTek also announced in Q3 its new ICMD® cloud-based digital materials design platform. The platform has been deployed internally to effect QuesTek’s own digital transformation and has contributed significantly to the company’s YTD growth rate on flat year-over-year headcount. ICMD® is currently entering test and evaluation cycles with select clients and will be generally available for licensing and subscription later in 2023.
According to QuesTek Chief Operating Officer Bill Mahoney, “QuesTek’s growth rate continues to be driven by current key industry and application dynamics, such as additive manufacturing, sustainability, and digital transformation. These trends are creating an increased demand for proven Integrated Computational Materials Engineering (ICME) technologies and capabilities, fostering a “democratization of ICME” across the intersection of computer-aided design and engineering and advanced materials markets. These trends are also the catalyst for QuesTek’s ICMD® development.”
About QuesTek Innovations
QuesTek empowers innovators by resolving materials challenges.
QuesTek Innovations is both a pioneer and current market leader in Integrated Computational Materials Engineering (ICME). QuesTek’s Materials by Design® technologies are proven to reduce the development time and cost, and increase the performance of novel materials. In its market space, QuesTek is the only provider to execute the full cycle from novel design to production, certification, and flight operations with proprietary materials, in a fraction of the time and cost of traditional or purely algorithmic methods.
For more information, please contact Severine Valdant, Chief Sales and Marketing Officer, at email@example.com.