Desktop Metal, Inc. - DM STOCK NEWS

Desktop Metal, Inc. (NYSE: DM) has announced the pricing of a $100,000,000 offering of 6.0% convertible senior notes due 2027, intended for qualified institutional buyers. The notes are set to mature on May 15, 2027, with interest paid semi-annually starting November 15, 2022. The net proceeds are estimated at $96.7 million, aimed at funding working capital and general corporate purposes. Noteholders can convert their notes under specific conditions, with an initial conversion rate of 601.5038 shares per $1,000 principal amount, representing a 25% premium over the last share price.

Desktop Metal (NYSE: DM) announced plans to offer up to $150,000,000 in convertible senior notes due May 15, 2027. The offering is intended for qualified institutional buyers and includes an option for initial purchasers to buy an additional $22,500,000 in notes. The notes will mature in 2027 and may be converted under certain conditions. Proceeds will fund working capital and corporate purposes. The company cautioned that forward-looking statements are subject to risks and uncertainties, and details regarding the offering will be finalized upon pricing.

Desktop Metal reported a remarkable revenue increase of 286% year-over-year, reaching $43.7 million for Q1 2022. The company launched its new S-Max Flex for scalable digital sand casting and commenced shipments of its Production System P-50. The initial P-1 system was installed in China, enhancing its market presence. Despite a net loss of $69.9 million, Desktop Metal reaffirms its 2022 revenue guidance of approximately $260 million, projecting 131% growth from 2021, along with adjusted EBITDA of $(90) million.

Desktop Metal (NYSE: DM) announces its commitment to the Biden Administration’s AM Forward initiative, which aims to enhance U.S. supply chains through additive manufacturing (AM). The company focuses on making AM technology accessible to all manufacturers, facilitating quicker, cost-effective, and sustainable production. Notably, 90% of North American foundries plan to invest in capital improvements, including 3D printers. Desktop Metal will showcase over 300 3D printed parts at the RAPID + TCT event from May 17-19 in Detroit, highlighting its role in modernizing manufacturing and reducing dependency on global supply chains.

Desktop Metal, Inc. (NYSE: DM) will release its financial results for Q1 2022 on May 10, 2022, before market open. The company will also host a conference call at 8:00 a.m. ET that day to discuss the results, which can be accessed at 1-855-560-2573 for U.S. callers or 1-412-317-5237 for international callers. A simultaneous webcast will be available on Desktop Metal's Investor Relations website. The company focuses on transforming manufacturing through its 3D printing solutions, addressing challenges of speed, cost, and quality.

Desktop Metal (NYSE: DM) has launched the ExOne S-Max® Flex, an innovative 3D printing system designed for foundries, which simplifies the casting of complex metal designs. Leveraging advanced Single Pass Jetting™ technology, the S-Max Flex is marketed as the most affordable sand 3D printer, aiming to democratize access to sand binder jetting. With a build rate of up to 115 l/h and a maximum print size of 4700 x 1000 x 1000 mm, it addresses labor shortages and rising demand in the metalcasting industry. The product will debut at CastExpo 2022, from April 23-26 in Columbus, Ohio.

Desktop Metal (NYSE: DM) has sold its 10th digital sand 3D printer to Kimura Foundry Group, enhancing its production capabilities across the United States and Japan. Kimura, now owning the largest number of ExOne systems globally, experienced a 500% revenue increase after adopting ExOne's technology. The new printer will help streamline production processes, reducing mold and core production times from 40 days to just five. This partnership positions Kimura as a leader in additive manufacturing within the foundry industry.

Desktop Metal, Inc. (NYSE:DM) has announced that Ultra Safe Nuclear Corporation (USNC) has adopted two updated 3D printers from its X-Series line, with plans for two additional machines this year. These advanced 3D printers will enable USNC to produce Fully Ceramic Micro-encapsulated (FCM) fuel, a safe and reliable nuclear energy solution. The X-Series line is designed for scalability and high performance, promising significant advancements in additive manufacturing technology. Dr. Kurt A. Terrani of USNC praised the cost-effective and reliable binder jetting process for their production needs.

Desktop Metal announced its fourth-quarter revenue of $56.7 million, a 123% sequential increase from Q3 2021 and a 577% rise year-over-year. For the full year 2021, revenue totaled $112.4 million, reflecting a 583% increase from 2020. The company's gross margins expanded for six consecutive quarters, with a Q4 non-GAAP gross margin of 31%. Looking ahead, Desktop Metal projects 2022 revenue around $260 million, representing 131% growth from 2021. Despite a net loss of $71.2 million in Q4, strong customer demand and strategic initiatives are positioned to drive future growth.