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 has partnered with Siemens to enhance additive manufacturing capabilities, targeting large-scale production applications. This collaboration aims to integrate Siemens' technology into Desktop Metal's AM 2.0 systems, allowing for better simulation and factory design. Key benefits include improved operational efficiency, reduced manufacturing waste, and enhanced supply chain resilience. The partnership reflects a commitment to advancing 3D printing and digital transformation in manufacturing.
Desktop Health, a subsidiary of Desktop Metal (NYSE: DM), has received FDA 510(k) clearance for its innovative SmileGuard resin. This light-curable, biocompatible material allows dentists to 3D print customized bite splints and dental appliances in as little as one hour, providing same-day delivery. SmileGuard offers a unique combination of strength and comfort, overcoming common shortcomings in existing 3D printed dental materials. This breakthrough positions Desktop Health favorably in the rapidly growing market for digital dental solutions.
Desktop Health and Keystone Industries have announced a partnership to make Keystone's dental resins available on Desktop Health’s Einstein 3D printer. This collaboration aims to enhance dental applications, including nightguards and splints, using innovative 3D printing technologies. KeySplint Soft, a leading dental resin, is now qualified for the Einstein printer. Additional materials from Keystone are set to be qualified soon, enhancing the range of applications. The Einstein printer utilizes proprietary technologies for high-speed, accurate 3D printing, positioning Desktop Health to accelerate digital solutions in the dental market.
Desktop Metal (NYSE: DM) has announced the qualification of nickel alloy Inconel 625 (IN625) on its Shop System, enhancing its 3D printing offerings. This qualification allows IN625 to be utilized across various models, including Production System™, Shop System, X-Series, and Studio System™ 2. With 18 qualified materials available, Desktop Metal aims to streamline the production of high-strength components for sectors like aerospace and energy. IN625's additive manufacturing offers economic and efficient solutions for complex geometries, overcoming traditional machining challenges.
Desktop Metal has launched the Figur G15, a groundbreaking platform using patent-pending Digital Sheet Forming (DSF) technology. This innovation allows manufacturers to create high-quality sheet metal parts directly from digital files, eliminating the need for expensive custom tools, molds, or dies. Capable of shaping materials up to 2.5 mm thick with a forming area of 1450 x 1000 mm, the G15 aims to enhance business agility in the $300 billion sheet metal industry. Live demonstrations will occur at IMTS 2022 in Chicago.
Desktop Metal (NYSE: DM) has launched two new upgrade packages for its Shop System™, enhancing the world's best-selling metal binder jet system. The Shop System+ offers high-throughput users discounts on powders and binders to reduce operating costs, while the Shop System Pro provides advanced process controls and flexibility for expert users. The Shop System has logged over 20,000 print hours since its November 2019 launch, demonstrating reliability and affordability in metal additive manufacturing. The upgraded systems will be showcased at IMTS 2022 in Chicago, further solidifying Desktop Metal's market leadership.
Desktop Metal, a leader in additive manufacturing, announces significant updates to its Live Sinter software, now utilized by over a hundred binder jet 3D printer companies worldwide. This advanced multi-physics simulation software delivers sinter-ready geometries in as little as 20 minutes, ensuring high precision in metal part production. Features include scan-based adjustments for enhanced accuracy and automated generation of supports and setters, streamlining production processes. Live Sinter is pivotal for high-density metal production, aiding in mitigating common sintering challenges.
Desktop Metal (NYSE: DM) is expanding its partnership with Henkel to qualify Loctite 3D IND405 Black and Loctite 3D 3843 for use on the ETEC Xtreme 8K, the largest DLP printer for high-volume production. These materials are known for their strength and durability, suitable for a variety of end-use applications. This collaboration aims to enhance production efficiency by reducing costs and eliminating the need for tooling. The ETEC Xtreme 8K's large build area allows manufacturers to achieve new sizes and throughput for parts, streamlining their 3D printing processes.
Desktop Metal (NYSE: DM) reported record revenue of $57.7 million for Q2 2022, marking a 204% increase year-over-year and a 32% rise sequentially. The company announced a strategic cost optimization initiative anticipating $40 million in annual savings and introduced FreeFoam, a new 3D printable resin. Despite the positive revenue growth, Desktop Metal experienced a net loss of $297.3 million, largely due to a non-cash goodwill impairment charge. The company maintains its full-year revenue guidance of $260 million, projecting a 131% increase from 2021.
Desktop Metal, Inc. (NYSE: DM) announced that CEO Ric Fulop will present at two upcoming conferences. On August 9, 2022, Fulop will present at the Jefferies Industrials Conference at 3:00 p.m. ET. The following day, August 10, 2022, he will present at the Oppenheimer 25th Annual Technology, Internet & Communications Conference at 3:45 p.m. ET. Webcasts will be available on the investor relations website, and registration is recommended at least 15 minutes prior to the presentations.
Desktop Metal, based in Burlington, Massachusetts, focuses on advanced 3D printing solutions.
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