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 qualified D2 tool steel for its Studio System™ 2, facilitating a simple two-step process for producing high-performance metal parts. This innovation allows users to manufacture high-strength D2 applications such as cold work metal forming tools and injection molds with ease. D2's properties include high hardness and wear resistance, making it ideal for various applications in manufacturing. The new capabilities aim to enhance affordability and access to advanced 3D printing for businesses.
Desktop Metal (NYSE: DM) announces a new partnership with Uniformity Labs to deliver ultra-low porosity binder jetting powders, enhancing their additive manufacturing solutions. This collaboration aims to integrate innovative powder processing with Desktop Metal's high-speed systems, improving the production of end-use metal parts. Uniformity Labs has already qualified several high-performance powders for Desktop Metal’s Shop System, ensuring excellent mechanical properties and surface finish. The companies also plan to advance aluminum 6061 materials for binder jetting, further expanding their offerings.
Desktop Metal (NYSE: DM) announced that the Hamburg District Court in Germany issued a preliminary injunction against SprintRay Europe GmbH due to patent infringement. This injunction prohibits SprintRay from selling or using products that violate EnvisionTEC's patents related to 3D printing technology. Michael Jafar, CEO of Desktop Health, expressed satisfaction with the court's decision, highlighting the company's commitment to protecting its intellectual property through its extensive patent portfolio of over 650 issued and pending patents worldwide.
Desktop Metal (NYSE: DM) has successfully qualified D2 tool steel for its Production System™ platform, utilizing Single Pass Jetting™ technology for fast metal additive manufacturing. This advancement supports the production of high-strength parts for cold work applications, die tools, and injection molds, emphasizing efficiency and cost-effectiveness. D2 tool steel offers high hardness, wear resistance, and corrosion resistance, catering to demanding industrial requirements. The Production System enhances production capabilities with significantly reduced lead times and cost advantages.
Desktop Metal has partnered with The University of Toledo Institute of Applied Engineering Research to develop nickel-titanium (Nitinol) alloys and other advanced materials on its Production System platform. This collaboration will utilize Single Pass Jetting technology, aimed at enhancing speeds in metal additive manufacturing. CEO Ric Fulop expressed excitement about the opportunities for applications in medical, aviation, and aerospace sectors. The partnership also aims to advance workforce development in these fields by combining expertise in metallurgy and advanced materials.
Desktop Metal (NYSE: DM) will be represented by Founder and CEO Ric Fulop at the Credit Suisse 25th Annual Technology Conference on Wednesday, December 1, 2021, at 3:40 p.m. MST in Scottsdale, Arizona. Attendees can access a live webcast via the investor relations section on Desktop Metal's website. The company, founded in 2015 and based in Burlington, Massachusetts, focuses on advancing 3D printing technology to enhance manufacturing efficiency and quality. A replay will be available post-event.
Desktop Metal reported a 34% revenue growth to $25.4 million in Q3 2021, marking a 907% increase year-over-year. The company achieved a GAAP gross margin of 16% and a non-GAAP gross margin of 27%, reflecting a sequential increase of over 180 basis points. Significant acquisitions included ExOne, Meta Additive, and Aidro, strengthening its leadership in additive manufacturing. However, there was a net loss of $66.9 million, including $15.2 million for acquisitions. Full-year revenue guidance is now between $92 million and $102 million.
Desktop Metal has successfully completed the acquisition of ExOne, approved by a majority of ExOne’s shareholders. The transaction, valued at approximately $561.3 million, offers ExOne shareholders $8.50 in cash and $16.43 in Desktop Metal common stock per share, totaling about $24.93 per share. This acquisition enhances Desktop Metal’s leadership in additive manufacturing by expanding its product portfolio. ExOne will operate as a wholly owned subsidiary, maintaining its headquarters in North Huntingdon, Pennsylvania.
Desktop Metal has completed its acquisition of ExOne after gaining approval from ExOne’s shareholders. This strategic move enhances Desktop Metal's position in additive manufacturing, offering complementary solutions and a broader product portfolio. ExOne shareholders received approximately $24.93 per share, totaling about $561.3 million. Desktop Metal aims to leverage ExOne’s customer base, improving access to its AM 2.0 solutions. The company plans to fully integrate ExOne while continuing operations in North Huntingdon, Pennsylvania.
Shapeways Holdings, Inc. (NYSE: SHPW) and Desktop Metal, Inc. (NYSE: DM) have announced a significant partnership enhancing 3D printing services. This collaboration aims to provide manufacturing teams with streamlined access to advanced 3D printing technologies at Shapeways’ facilities in New York and the Netherlands. Shapeways will utilize Desktop Metal's systems to expand its manufacturing capabilities, facilitating rapid production and cost-effective solutions for customers in various industries. This initiative is set to roll out in early 2022, with further integrations planned.
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