Desktop Metal Inc

DM

Equity

ISIN null / Valor 58830169

New York Stock Exchange, Inc (2024-06-10)

USD 0.49+0.27%

Desktop Metal Inc
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About company

Desktop Metal Inc is a pioneering company in the additive manufacturing industry, focusing on the development and provision of 3D printing technologies across a broad spectrum of materials. Since its inception, the company has expanded its technological capabilities to include a wide range of polymers, elastomers, and other materials through partnerships and acquisitions, such as Adaptive3D and ETEC. Originally established to enhance industrial sand 3D printing solutions for foundries and tooling applications, Desktop Metal has significantly broadened its scope. It now offers innovative solutions in metal casting molds and cores by utilizing foundry silica and ceramic sand. In recent years, the company has ventured into the healthcare sector, aiming to revolutionize personal healthcare through 3D printing and biofabrication technologies since 2021. Additionally, Desktop Metal is committed to environmental sustainability, as evidenced by its efforts to create 3D printed wood from upcycled waste materials like sawdust and lignin, a project that began in 2019. The company's portfolio showcases a diverse range of materials, including metals, ceramics, composites, and upcycled materials, positioning Desktop Metal as a key player in driving innovation and sustainability in the additive manufacturing industry.

Summarized from source with an LLMView SourceSector:

Revenue Overview

In the first quarter of 2024, Desktop Metal Inc reported a revenue of $40.6 million, which shows a slight decrease from $41.3 million in the same quarter the previous year. This represents a year-over-year decline of less than 2%.

Net Loss Details

Desktop Metal Inc experienced a net loss of $52.1 million in Q1 2024, which was significantly affected by one-time noncash charges. These charges were related to accelerated amortization and depreciation on certain intangible and fixed assets.

Adjusted EBITDA Improvement

The company's adjusted EBITDA for the first quarter of 2024 was $(13.6) million, marking a 44.3% improvement compared to the same period last year. This indicates progress in Desktop Metal's operational efficiency and cost management strategies.

Cost Management and Strategic Focus

Desktop Metal Inc continued to reduce its operating expenses, achieving a 7% year-over-year decrease in GAAP operating expenses and a 45% reduction in non-GAAP operating expenses from the quarter before the start of its cost reduction initiative. The company is also exploring strategic alternatives for its photopolymer portfolio to further accelerate its path to positive adjusted EBITDA.

2024 Financial Outlook

Desktop Metal reaffirmed its full-year guidance for 2024, projecting revenues to be between $175 million and $215 million. The company also anticipates its adjusted EBITDA to range from $(30) million to $(10) million for the full year, reflecting ongoing efforts to achieve operational profitability and financial stability.

Summarized from source with an LLMView Source

Key figures

-77.8%1Y

-96.2%3Y

-94.9%5Y

Performance

81.2%1Y

89.2%3Y

97.0%5Y

Volatility