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, Inc. (NYSE: DM) has announced the upcoming departure of Chief Financial Officer James Haley, who will transition to pursue other interests by December 31, 2022, or upon the arrival of a new CFO. Haley will remain in an advisory role afterward. CEO Ric Fulop praised Haley's contributions in navigating the company’s growth as a public entity. The company has engaged an executive search firm to find a successor. Desktop Metal continues to focus on expanding its 3D printing solutions, emphasizing its current strong financial position and innovative capabilities.
Desktop Metal (NYSE: DM) has expanded its partnership with SolidCAM, enabling the latter to sell DM's metal additive manufacturing systems in the U.S., U.K., Israel, and India. SolidCAM, a key distributor of CNC software, aims to enhance its offerings through new showrooms showcasing DM's technology. This collaboration highlights the synergy between additive manufacturing and traditional CNC machining, promising greater efficiency for manufacturers. The announcement was made in conjunction with the upcoming IMTS 2022 trade show, where both companies will showcase their innovations.
Desktop Metal (NYSE: DM) has launched FreeFoam™, an innovative family of photopolymer resins that expands after 3D printing, revolutionizing foam production. This new material can expand from 2 to 7 times its original size when heated, allowing parts to be shipped compactly and expanded on-site, reducing shipping costs. FreeFoam benefits multiple industries, including automotive and healthcare, by replacing traditional foam manufacturing methods. The resin will be available in various hardness values and is exclusively printable on the ETEC Xtreme 8K DLP system. Commercial availability is expected in 2023.
Desktop Metal (NYSE: DM) announced a strategic integration and cost optimization initiative aimed at achieving approximately $40 million in annualized non-GAAP cost savings, with $20 million expected in the latter half of 2022. This initiative includes a 12% workforce reduction and facility consolidations, focusing on driving revenue and margin growth. The company plans to realize aggregate cost savings of at least $100 million over the next 24 months. Desktop Metal is committed to advancing its leadership in Additive Manufacturing 2.0 and enhancing product innovation.
Desktop Metal (NYSE: DM) has qualified 925 sterling silver for 3D printing on its Production System platform, enabling faster manufacturing for jewelry and luxury goods. The company is fast-tracking the qualification of 18K yellow gold and developing strategic partnerships to enhance precious metal supply chains. The upcoming JCK Show in Las Vegas will showcase designs by Christian Tse, demonstrating the capabilities of Desktop Metal's technology. The Production System offers high-volume, customizable production and reduces material waste, revolutionizing the jewelry industry.
The Defense Logistics Agency has awarded Concurrent Technologies Corporation a prime contract valued at up to $15 million to develop 3D printed sand-casting molds. Desktop Metal, trading under the symbol DM, is a key partner in this project, collaborating with CTC and other entities. The base year of the contract is worth $4.6 million, with options potentially extending its value. This initiative aims to address obsolete casting needs and enhance supply chain agility through advanced 3D printing technologies.
Aidro, a subsidiary of Desktop Metal (NYSE: DM), has been qualified as a supplier of aluminum flight parts for Leonardo, a prominent aerospace company. This designation highlights Aidro's expertise in additive manufacturing, as it is one of only two suppliers to achieve the Declaration for Qualification of Process for Additive Layer Manufacturing with Leonardo. Aidro's certification in AS/EN9100 further enables its collaboration with major companies in the aerospace sector, showcasing its potential in producing lightweight and complex components for advanced rotorcraft.
Desktop Metal, Inc. (NYSE: DM) will have its Founder and CEO, Ric Fulop, present at the Stifel 2022 Cross Sector Insight Conference on Tuesday, June 7, 2022, at 4:10 p.m. EST, at the InterContinental Boston Hotel. A live webcast of this presentation will be available on Desktop Metal's investor relations site, and attendees are encouraged to register 15 minutes early for timely access. A replay will also be available following the event. Desktop Metal specializes in advanced 3D printing solutions aimed at revolutionizing manufacturing.
Desktop Metal and Lumafield have introduced a Supply Chain Resilience package to address manufacturing challenges. This innovative solution combines CT scanning and 3D printing, enabling manufacturers to scan and reproduce high-demand parts without needing original CAD models. The collaboration, prompted by supply chain disruptions, allows quick digitization of legacy parts. Customers purchasing a Desktop Metal printer by July 1, 2022, will receive 15 CT scans and engineering support while awaiting their scanner. This technology aims to enhance production efficiency and reduce supply chain risks.
Desktop Metal has launched DuraChain™, a pioneering line of photopolymers designed for digital light processing (DLP) printing. Utilizing a Photo Polymerization-Induced Phase Separation (PIPS) process, these materials provide exceptional elastic and tough properties. The DuraChain materials, including Elastic ToughRubber™ in various hardnesses, will be exclusively available on the ETEC Xtreme 8K system, enabling resilient, high-performance parts. With a long pot life of approximately one year, DuraChain photopolymers aim to spur innovation in 3D printing, marking a significant advancement in the additive manufacturing sector.
FAQ
What is the current stock price of Desktop Metal (DM)?
What is the market cap of Desktop Metal (DM)?
What does Desktop Metal, Inc. specialize in?
Where is Desktop Metal headquartered?
Who are some of the notable investors in Desktop Metal?
What industries can benefit from Desktop Metal's 3D printing technology?
In which regions does Desktop Metal ship its products?
What notable recognitions has Desktop Metal received?
How much equity funding has Desktop Metal raised?
What is the main revenue source for Desktop Metal?
How does Desktop Metal contribute to the healthcare sector?
What kind of professionals is Desktop Metal looking to hire?
