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AML3D Ltd ASX:AL3

0 opened or increased1 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 2 managers in total.

Position history by manager 2 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

20252026

30 Nov 2024 to today

Commentary Showing 2 of 5

DateManagerActionSummary

31 Aug 2026Cyan Investment ManagementHeldCyan Investment Management continues to hold AML3D without change, flagging the additive-manufacturing company as undervalued after FY26 revenue grew 70% to $12.5 million and net cash reached almost $27 million, supported by a US Navy letter of intent for 100 systems and a new BAE Systems testing contract. At an $82 million market capitalisation, the manager views the stock as cheap relative to other ASX-listed defence and additive-manufacturing peers, including Droneshield, Elsight, Electro Optic Systems, Titomic, Metal Powder Works and Amaero.

Monthly Report, price recorded $0.14

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31 Mar 2026Cyan Investment ManagementHeldCyan Investment Management continues to hold AML3D Ltd because the company announced two material defence contracts in March — a $9.9 million order for four ARCEMY X machines for a US military shipbuilder and a $2.6 million order for US Navy submarine parts — which the fund believes should attract further investor interest. Cyan Investment Management notes that with a market capitalisation of approximately $120 million, AML3D's valuation looks favourable relative to other ASX defence technology peers such as DroneShield, Elsight, and Electro Optic Systems.

Monthly Report, price recorded $0.20

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3 more comments on AL3Pro shows every comment, with a link to each source document.

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 2 managers first commented on AL3.

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About AML3D Ltd

Industrials, Machinery

AML3D (ASX:AL3), a large-scale metal 3D printing company, is seen by Cyan Investment Management as undervalued given its growing defence contracts. In August 2026, Cyan highlighted FY26 revenue growth of 70% to $12.5 million and net cash of almost $27 million, supported by a US Navy letter of intent for 100 systems and a new BAE Systems testing contract, against a market value of around $82 million. Earlier in 2026, Cyan noted the shares rebounded 33% after two material defence contracts, including a $9.9 million order for four ARCEMY X machines from a US military shipbuilder. AML3D operates in the Industrials sector within the Machinery industry, and Thesis Tracker has captured 5 comments from 2 fund managers, including Cyan Investment Management. Founded in 2014 and headquartered in Adelaide, AML3D provides wire arc additive manufacturing systems and printed metal parts for defence, maritime, aerospace and resources customers.

Market cap: $62m
Price to earnings: Loss-making
Return on equity: -27.5%
Dividend yield: 0.0%
Price to book: 2.51x
Net margin: -150.9%
52-week range: $0.09 to $0.27

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in AML3D Ltd (ASX:AL3)?

Fund managers including Cyan Investment Management and Cerutty Macro Fund have invested in AML3D Ltd (ASX:AL3).

What opportunities or catalysts do fund managers highlight for AML3D Ltd?

Cyan highlights a US Navy letter of intent for 100 systems, new orders from US military shipbuilders and BAE Systems, strong revenue growth and a large net cash balance relative to its market value, as the US seeks to rebuild naval manufacturing capacity.

What are the key risks to the AML3D Ltd investment thesis, according to fund managers?

The available commentary is positive and does not set out specific risks, though AML3D's growth depends on converting letters of intent into firm orders and on US defence procurement timing.

What does AML3D Ltd (ASX:AL3) do?

AML3D Ltd., founded in 2014 by Andrew Michael Clayton Sales, is an Australian-based company headquartered in West Torrens. The firm specializes in providing additive manufacturing solutions, including 3D printing machinery and dedicated 3D printing services for industrial applications. As a publicly traded entity, AML3D offers advanced manufacturing technology to various sectors worldwide.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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