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) 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.
Desktop Metal will acquire ExOne for $575 million, allowing ExOne shareholders to receive $8.50 in cash and $17.00 in Desktop Metal stock per share, totaling $25.50, a 47.6% premium on ExOne's last closing price. This strategic acquisition aims to create a robust additive manufacturing portfolio, extending Desktop Metal's market reach and enabling customers to optimize production. The transaction is expected to close in Q4 2021, contingent upon shareholder and regulatory approval, with the share consideration subject to a collar mechanism.
Desktop Health, part of Desktop Metal (NYSE: DM), has expanded its dental technology offerings by introducing a turnkey metal 3D printing solution and launching chrome cobalt for dental applications. The Shop SystemTM, a leading metal binder jetting solution, allows dental labs to pre-order, enabling high-quality custom dental appliances and surgical guides with exceptional surface finishes. The system significantly reduces production time and costs, capable of printing up to 32 partials in under four hours, making it a game-changer in the dental manufacturing landscape.
Desktop Metal (NYSE:DM) has qualified titanium alloy Ti-6Al-4V (Ti64) for its Studio System 2™, enabling accessible metal 3D printing for high-performance applications. Shipping is set to commence next month, marking Desktop Metal as the first to offer this material for extrusion-based bound metal additive manufacturing. Ti64 is recognized for its high tensile strength and biocompatibility, making it suitable for industries like aerospace, defense, and medical applications. The Studio System 2 assures exceptional mechanical properties, addressing challenges in 3D printing titanium.
Desktop Metal, Inc. (NYSE: DM) will announce its second quarter financial results for the period ended June 30, 2021, after market close on August 11, 2021. A detailed presentation will be available on their Investor Relations website. Following the announcement, the company will host a conference call at 4:30 p.m. EDT, accessible via phone or webcast. Desktop Metal focuses on transforming manufacturing with a range of 3D printing solutions, aiming to improve speed, cost, and quality in additive manufacturing.
On July 27, 2021, Desktop Metal appointed James Eisenstein to its Board of Directors and the Nominating and Corporate Governance Committee. Eisenstein brings over 30 years of experience in technology companies and has founded several multi-billion-dollar companies, notably American Tower Corporation. He expressed enthusiasm for joining Desktop Metal, citing its innovative role in additive manufacturing. CEO Ric Fulop emphasized the value of Eisenstein's expertise for the company’s growth.
Desktop Metal (NYSE: DM) announced the acquisition of Aerosint, known for its innovative multi-material deposition systems in additive manufacturing. Founded in 2016, Aerosint offers proprietary technology that enables selective powder deposition, enhancing material efficiency and application versatility in 3D printing. This acquisition aligns with Desktop Metal's strategy to advance its additive manufacturing capabilities, driving growth and expanding market opportunities. Aerosint will operate as a subsidiary while continuing to engage existing partners, integrating its technology into Desktop Metal products within two years.
Desktop Health, a subsidiary of Desktop Metal (NYSE: DM), announced the acquisition of the PhonoGraft™ platform, intended for 3D printing solutions supporting tympanic membrane regeneration. This technology aims to enhance soft tissue regeneration across various healthcare applications. Developed by researchers at Harvard University and Mass Eye and Ear, PhonoGraft could revolutionize treatments for eardrum perforations, offering minimally invasive procedures with improved healing outcomes. Currently, the technology is in advanced research stages and is not yet available for sale.
Desktop Metal, Inc. (NYSE: DM) will join the Russell 2000® Index following the 2021 annual reconstitution effective June 28, 2021. This inclusion is based on its membership in the Russell 3000® Index, which is recognized by investment managers and institutional investors for benchmarking. Approximately $10.6 trillion in assets utilize Russell indexes. Desktop Metal, known for its innovative 3D printing solutions, aims to revolutionize manufacturing by tackling challenges related to speed, cost, and quality.
Desktop Metal (NYSE: DM) has successfully qualified 4140 low-alloy steel for its Production SystemTM platform, a breakthrough in metal additive manufacturing. This qualification allows for the mass production of complex parts using 4140, a versatile material known for its toughness and strength. Businesses can now produce parts faster and cheaper, achieving up to 690,000 parts annually at costs as low as $0.28 per cubic centimeter. This advancement represents significant cost and time savings compared to traditional manufacturing methods, setting Desktop Metal apart as a leader in the industry.
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