Shapeways Holdings, Inc. (NasdaqGM:SHPW) continues to evaluate strategic alternatives with regard to both the manufacturing and software businesses. Gregory Kress, Chief Executive Officer said, "I will provide an update on our cost-saving initiatives and strategic alternatives process. We are seeing ongoing near-term challenges, including an elongated sales cycle for enterprise sales and longer-than-anticipated adoption of software features.

In light of this backdrop, as we previously disclosed, we implemented cost savings measures to better align our cost structure with our growth expectations over the near term to reduce cash burn. These measures include reductions in force completed in the fourth quarter of 2023, a reduction in new hires and a reduction in noncritical capital and discretionary operating expenditures. Additionally, as we discussed last quarter, we have been working with advisers and considering strategic alternatives, including, without limitation, a sale of a material portion of the company's asset, a merger, business combination, liquidation of certain assets or other strategic transactions to maximize shareholder value.

Based on market checks conducted by our advisers as well as preliminary discussion with and feedback from potential purchasers and in light of the continued macroeconomic and industry pressures, the company is actively taking steps to sell a material portion of the company's assets. In the course of these preliminary discussions, potential purchasers have indicated an interest in acquiring either the company's manufacturing business or the software business, but not both. We continue to evaluate strategic alternatives with regard to both the manufacturing and software businesses, including ongoing discussions with potential acquirers.

The company has not yet signed a definitive agreement with respect to either the manufacturing or software assets, and we can provide no assurances that any of these processes will result in any transaction. However, we will provide updates as appropriate. While we are exploring what is best to maximize shareholder value, we will remain disciplined and prudent as we execute our operating plan".