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.
Overview
Desktop Metal Inc (symbol: DM) is a transformative force in the advanced manufacturing landscape, pioneering the integration of 3D printing technology into metal and carbon fiber parts production. Employing a cutting-edge approach that combines materials science, hardware and software engineering, and innovative design, the company delivers solutions that streamline the entire process from rapid prototyping to scalable mass production. Industry-specific keywords such as "3D printing", "additive manufacturing", and "design innovation" underscore its technical expertise and market impact.
Core Business Operations
The company specializes in creating high-quality metal parts through state-of-the-art 3D printing techniques that cater to diverse applications. By reinventing traditional manufacturing processes, Desktop Metal Inc enables design and engineering teams to rapidly iterate prototypes and efficiently transition to full-scale production. Its robust ecosystem of technologies and integrated workflows addresses the needs of sectors such as automotive, consumer goods, industrial equipment, and mechanical systems.
Technological Innovation
At the heart of Desktop Metal Inc's operations is its innovative approach to additive manufacturing. The company continually refines its processes to improve reliability, precision, and production speed while maintaining high standards of quality. Leveraging the latest advancements in materials science coupled with sophisticated software and hardware solutions, the firm provides a versatile platform that supports a wide range of manufacturing challenges and applications.
Market Reach and Global Presence
Operating across key global regions, including the Americas, Europe, the Middle East, Africa, and the Asia Pacific, Desktop Metal Inc has strategically positioned itself to serve a broad spectrum of markets. While the company derives a significant portion of its revenue from the Americas, its innovative solutions have cemented its presence across multiple continents, reinforcing its commitment to making advanced metal 3D printing accessible to diverse engineering and manufacturing communities.
Industry Impact and Recognition
Desktop Metal Inc has garnered attention from industry observers and experts by showcasing its pioneering work in the 3D printing sector. This recognition is a testament to its dedication to redefining manufacturing paradigms through a blend of technical ingenuity and practical applications. The company’s collaborative efforts in research and continuous innovation help it to maintain a competitive edge by addressing complex manufacturing challenges with precision and scalability.
Competitive Position and Value Proposition
The core value proposition of Desktop Metal Inc lies in its ability to bridge the gap between traditional manufacturing methods and futuristic additive processes. By combining state-of-the-art technology with an in-depth understanding of materials and design, the company offers a unique solution that not only enhances production efficiency but also opens new possibilities in product development. Its integrated approach and commitment to technological excellence set it apart in a competitive market, ensuring that design and manufacturing teams can achieve optimal outcomes with reliable, high-quality metal parts.
Conclusion
In summary, Desktop Metal Inc exemplifies the evolution in manufacturing, reinforcing its position as a critical player in the field of metal 3D printing. Through its commitment to research, innovative design, and efficient production, the company provides robust solutions that empower a wide array of industries to achieve greater precision and versatility in manufacturing. Its holistic approach and expert integration of engineering disciplines make it a noteworthy entity in the landscape of advanced manufacturing technologies.
The Delaware Court of Chancery has ruled in favor of Desktop Metal (NYSE: DM) in its litigation against Nano Dimension regarding their merger agreement from July 2, 2024. The Court found that Nano materially breached the Merger Agreement and rejected their counterclaims.
The Court ordered Nano to execute a national security agreement with the Committee on Foreign Investment in the United States within 48 hours, which is the final condition for closing the merger. If closing hasn't occurred by March 31, 2025, Desktop Metal can extend the end date at its discretion. The ruling is immediately appealable to the Delaware Supreme Court under Court of Chancery Rule 54(b).
Desktop Metal (NYSE: DM) has received confirmation from the Delaware Court of Chancery regarding trial dates set for March 11-12, 2025, concerning its ongoing litigation against Nano Dimension. The lawsuit pertains to the merger agreement between the two companies dated July 2, 2024. The Court granted Desktop Metal's motion to expedite proceedings during a hearing in December 2024, determining that expedition was warranted to address Desktop Metal's claims under the Merger Agreement. The company affirms its commitment to protecting its contractual rights while maintaining its focus on serving customers, employees, and stakeholders.
Desktop Metal (NYSE: DM) has secured an expedited trial in Delaware Court of Chancery for its lawsuit against Nano Dimension, scheduled for February 24, 2025. The lawsuit, filed December 16, 2024, alleges Nano Dimension breached merger agreement obligations by failing to obtain regulatory approval efficiently.
Additionally, Desktop Metal filed a second lawsuit on December 31, 2024, against both Nano Dimension and Markforged, concerning Nano Dimension's September 2024 agreement to acquire Markforged. Desktop Metal claims this acquisition would increase the risk of regulatory prohibition and delay their merger's consummation. The company seeks to prevent the Markforged Transaction from closing until after their merger completes.
Initially, Desktop Metal didn't expect the Markforged deal to impact their merger, assuming their transaction would close first. However, due to Nano Dimension's delays in obtaining CFIUS approval, circumstances have changed.
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.
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