Welcome to our dedicated page for Desktop Metal news (Ticker: DM), a resource for investors and traders seeking the latest updates and insights on Desktop Metal stock.
Desktop Metal, Inc. (DM) is revolutionizing the way design and manufacturing teams produce metal parts, covering the entire process from prototyping to mass production. The company leverages advancements in materials science, hardware and software engineering, and design to provide an innovative 3D printing solution for both metal and carbon fiber. This accessibility allows engineers, designers, and manufacturers to efficiently create complex parts.
Founded with a strong vision and supported by significant investments amounting to $212 million from industry leaders like Google, BMW, Lowe’s, and Kleiner Perkins Caufield & Byers, Desktop Metal has established itself as a frontrunner in the 3D printing industry. In recognition of its potential and innovative approach, the company was listed among the world’s 30 most promising technology pioneers by the World Economic Forum in 2017 and was also included in MIT Technology Review’s list of the 50 smartest companies.
Headquartered just outside of Boston, Desktop Metal is on a mission to assemble a team of experts. The company actively seeks curious and driven engineers, scientists, and designers to push the boundaries of what's possible in additive manufacturing.
Desktop Metal's 3D printing technologies are pivotal in the design and development of automotive parts, consumer goods, industrial equipment, and mechanical systems. Their products are shipped globally, covering markets in the Americas, Europe Middle East and Africa (EMEA), and Asia Pacific (APAC), with the Americas being their largest revenue source.
Continuously striving for excellence, the company has made significant strides in the healthcare sector through Desktop Health, showcasing their versatile and expansive application of 3D printing technology.
Desktop Metal (NYSE: DM) has filed a lawsuit against Nano Dimension in the Delaware Court of Chancery, alleging breach of merger agreement obligations. The lawsuit claims Nano Dimension failed to use reasonable best efforts to obtain regulatory approval for the merger. Desktop Metal seeks specific performance, including cooperation in obtaining Committee on Foreign Investment in the United States (CFIUS) approval and executing the proposed mitigation agreement.
The Court has scheduled an expedited hearing on December 30, 2024, regarding Desktop Metal's motion for an expedited trial in January. All other regulatory conditions have been satisfied, with CFIUS approval being the final remaining requirement. Desktop Metal aims to enforce contractual obligations and complete the merger, which it views as a strategic opportunity to create value for stakeholders.
Desktop Metal (NYSE: DM) has qualified a 100% recycled nickel-based superalloy for use in its metal binder jet 3D printing systems. The Mar-M247 alloy, processed by Continuum Powders, is now R&D Qualified for use on DM's X25Pro platform. This high-strength material, suitable for temperatures up to 1000°C, enhances the sustainability of DM's rapid, area-wide binder jet printing technology.
The qualification process involved rigorous testing to ensure the recycled powder met all material property requirements. DM CEO Ric Fulop sees this as a first step towards more eco-conscious materials offering significant ROI. The partnership with Continuum Powders aims to develop more recycled powders for metal binder jet 3D printing, potentially shortening supply chains and reducing costs.
Desktop Metal (NYSE: DM) will showcase its Figur G15 Pro and laser-free metal 3D printing technologies at IMTS 2024 in Chicago. The Figur G15 Pro, featuring Digital Sheet Forming (DSF) technology, will produce live parts and display a 1955 Tucker Carioca fender. A video highlighting the G15's ability to create exotic body panels for the Tucker Carioca concept car will premiere.
Desktop Metal will also exhibit its Studio System™, Shop System™, InnoventX™, and PureSinter™ Furnace. These technologies are qualified to process over 40 materials, including ceramics. The company's portfolio caters to top industry groups at IMTS, such as machine shops, metalworking, aerospace, automotive, and industrial machinery.
Desktop Health, part of Desktop Metal, Inc. (NYSE: DM), has announced that its Flexcera family resins are now qualified for use with LuxCreo 3D printers. Flexcera resins, which are FDA 510(k) cleared, MDR certified, and CE marked, are used for 3D printing various dental applications including implant supported dentures, veneers, crowns, bridges, and removable dentures.
The partnership expands LuxCreo's offerings beyond aligners, surgical guides, and night guards to include premium dental resins for restorative, cosmetic, implant, and denture applications. This collaboration is expected to benefit from the growing dental 3D printing market, projected to reach $8.1B by 2029 with a 19% CAGR from 2023 to 2029.
Desktop Metal (NYSE: DM) reported Q2 2024 financial results, revealing a revenue decline to $38.9 million from $53.3 million year-over-year. The company faced a net loss of $103.4 million, impacted by one-time noncash charges related to accelerated amortization and depreciation. Despite challenges, Adjusted EBITDA improved to $(13.2) million, a 12% year-over-year enhancement. Services revenue increased by 27% to $7.5 million. DM announced a definitive merger agreement with Nano Dimension, citing it as the best path forward amid challenging market conditions. The company continued its cost reduction efforts and launched new products, including the PureSinter™ Furnace. Desktop Metal withdrew financial guidance for the remainder of the year due to the pending acquisition.
Desktop Health, a brand of Desktop Metal, Inc. (NYSE: DM), has validated its Flexcera® Smile Ultra+ dental resin for use in All-on-X implant provisionals. This FDA 510(k) cleared nanoceramic polymer is now indicated for implant-supported denture provisionals, offering a cost-effective and efficient solution for dental professionals.
Key points:
- Flexcera Smile Ultra+ prints quickly and accurately on various 3D printers
- A single kilogram bottle can produce up to 50 All-on-X arches
- Print time for a full set of arches is about 20-30 minutes
- The global dental implant and prosthetics market is expected to reach $16B by 2029
- Dental professionals report increased case acceptance rates using this technology
Desktop Metal (NYSE: DM) has announced that it will release its second quarter 2024 financial results on Wednesday, July 31, 2024, before the market opens. The company will also make a summary presentation available on its Investor Relations website. Following the release, Desktop Metal will host a conference call at 8:30 a.m. ET to discuss the results.
Investors and analysts can access the call using the following numbers:
- U.S. participants: 1-800-717-1738
- International participants: 1-646-307-1865
A simultaneous webcast of the conference call and accompanying presentation will be available on the company's Investor Relations website. A replay of the call will also be made available shortly after its conclusion on the same website.
Desktop Metal (NYSE: DM) has announced the sale of its first PureSinter™ Furnace to AmPd Labs, a Houston-based additive manufacturing service provider. The PureSinter, launched in June, offers one-run debinding and sintering of metal parts in a 15.8L retort. It features a patent-pending design that delivers parts-per-billion purity levels in a high-efficiency, airtight environment.
AmPd Labs, a Desktop Metal customer since 2021, operates three DM Shop System printers and two other DM furnaces. The company provides services across the entire product lifecycle, from design to full-scale production. The PureSinter Furnace is expected to enable AmPd Labs to meet high-volume customer production demands rapidly.
Desktop Metal CEO Ric Fulop believes the PureSinter will revolutionize sinter-based AM and the traditional furnace industry. Shipments to customers are set to begin this quarter.
Desktop Metal (NYSE: DM) will showcase new breakthroughs in metal and ceramic binder jet 3D printing at RAPID + TCT in Los Angeles from June 25-27. The company will present over 24 customer applications, including high-value aerospace, electronics, medical, and consumer goods parts. Highlights include the debut of the PureSinter Furnace and significant advancements in binder jetting AL6061 powder. Collaborations with industry leaders like Eaton and BEGA will be featured, demonstrating Desktop Metal's ability to produce high-performance parts. Desktop Metal is the market leader in binder jetting, with over 1,350 systems installed globally, qualified to print in more than 40 materials.
Desktop Metal (NYSE: DM) has announced the integration of TurboFuse™, a high-speed, high-strength binder, with its X25Pro binder jet 3D printer. TurboFuse enhances 3D print speeds by about 50% and eliminates the need for heating each layer, which generally slows down the printing process. This binder shows improved adhesion to metal powders, resulting in stronger green parts and more efficient depowdering. TurboFuse is compatible with 16 metals and one cermet, expanding its application range. Eaton, a power management company, is currently beta testing TurboFuse at its Additive Manufacturing Center of Excellence, reporting significant improvements in print times. The new binder will be showcased at the RAPID + TCT event in Los Angeles. Upgrade kits for the X25Pro are expected to be available in Q3.
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