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.
Shapeways Holdings (NYSE: SHPW) and Desktop Metal (NYSE: DM) announced a significant partnership to enhance 3D printing services. Building on a collaboration initiated in 2021, Shapeways will expand Desktop Metal's production capabilities at its manufacturing sites in New York and the Netherlands. This alliance aims to provide clients with immediate access to advanced 3D printing technologies and services, including Desktop Metal’s AM 2.0 platforms and extensive materials library. The initiative is designed to support clients in reducing costs and improving manufacturing flexibility.
Desktop Metal has announced the opening of a new in-house manufacturing facility in Massachusetts to significantly increase assembly space dedicated to its Production System platform. This expansion aims to address the rising demand for the P-50 printer, aimed at mass production of 3D printed metal parts. The new facility will help accelerate the production ramp, with initial builds slated for shipment in Q4 2021. The Production System can produce metal parts up to 100 times faster than traditional methods, allowing high-volume production at competitive costs.
Desktop Metal (NYSE: DM) will report its financial results for Q3 2021 on November 15, 2021, after the market closes. A summary presentation will be available online, and the company will host a conference call at 4:30 p.m. EST on the same day to discuss the results. Interested participants can join the call by dialing 1-844-826-3033 or 1-412-317-5185 for international callers. A replay of the call will be accessible on its Investor Relations website shortly after.
Desktop Metal has successfully qualified Grade 420 stainless steel for its Production System platform, utilizing its innovative Single Pass Jetting technology. This advancement enables manufacturers to mass-produce high-strength, end-use parts in 420 SS for critical applications in medical, aerospace, defense, and consumer products. The technology significantly reduces production time and costs by eliminating tooling needs and minimizing material waste. With this qualification, Desktop Metal aims to enhance the adoption of its additive manufacturing solutions across various industries.
Desktop Metal (NYSE: DM) has qualified nickel alloy IN625 for its Production System platform. This material exhibits high strength, corrosion resistance, and the ability to withstand extreme temperatures, making it ideal for aerospace, marine, and chemical processing applications. The Production System utilizes patent-pending Single Pass Jetting technology for efficient mass production, reducing costs and production time. Key applications include hydraulic spools, turbine blades, and valve plugs. Desktop Metal aims to expand its materials portfolio to enhance manufacturing capabilities.
Desktop Metal (NYSE: DM) is experiencing a surge in demand for its Shop System, a groundbreaking metal binder jetting solution, particularly across Europe. Since its volume shipments began in Q4 2020, the system has gained popularity for its ability to produce high-quality, end-use metal parts efficiently and cost-effectively. European manufacturers from countries including France and Germany are leveraging this technology to enhance productivity and adapt to supply chain challenges. The Shop System is positioned to redefine additive manufacturing with its combination of speed and quality.
EnvisionTEC and Covestro have announced a collaboration to enhance industrial 3D printing through the new e-PerFORM resin, optimized for EnvisionTEC's printers. This partnership aims to lower barriers for companies adopting 3D printing for rapid mold production. The e-PerFORM resin delivers high stiffness and temperature performance, matching the standards of traditional Somos PerFORM resin. Validation from Polyvia confirms the resin's effectiveness in rapid tooling, making it a cost-efficient choice for manufacturers. The solution will be showcased at the RAPID+TCT event in Chicago, happening September 13-15, 2021.
Desktop Metal (NYSE: DM) has acquired Aidro, an expert in additive manufacturing for hydraulic systems, enhancing its capabilities for high-volume production across sectors like oil & gas and aerospace. This strategic move aims to accelerate the adoption of Additive Manufacturing 2.0 by major OEMs. Aidro, founded in 1982, contributes nearly 40 years of experience in optimizing hydraulic components through advanced manufacturing techniques, significantly improving performance compared to conventional methods.
Desktop Metal (NYSE: DM) has successfully qualified 316L stainless steel for its Shop System, the first metal binder jetting system tailored for machine shops. This advancement allows for cost-effective batch production of high-quality parts, significantly enhancing throughput and print quality compared to traditional methods. Applications include custom spray nozzles and medical device closures. The company aims to broaden its additive manufacturing capabilities with this material expansion, emphasizing a materials roadmap designed for competitive production.
Desktop Metal, Inc. (NYSE: DM) reported strong financial results for Q2 2021, achieving a revenue of $19.0 million, up 68% from Q1 and 767% year-over-year. The company also expanded gross margins, with a GAAP gross margin of 12% and a non-GAAP gross margin of 25%. However, a net loss of $43.2 million was noted, driven partly by acquisitions. The company anticipates over $100 million in revenue for 2021 with an annualized run rate of $160 million expected. Recent acquisitions bolster their diversification in the additive manufacturing market.
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