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 a robust first quarter for 2021, achieving $11.3 million in revenue, up 35% from Q4 2020 and 234% year-over-year. The company experienced accelerated customer adoption, adding more clients than in all of 2020 combined. Significant highlights included the acquisition of Adaptive3D, expansion of their materials portfolio to over 225 materials, and the launch of Flexcera for dental applications. However, the net loss was $59.1 million. Desktop Metal maintains a strong liquidity position with $572.2 million in cash as of March 31, 2021.
Desktop Metal has acquired Adaptive3D, a leader in elastomeric solutions for additive manufacturing. This acquisition aims to enhance Desktop Metal's material portfolio and support high-volume applications. Adaptive3D specializes in producing photopolymer elastomers that facilitate the production of durable, biocompatible parts across various industries, including healthcare and transportation. The partnership will leverage Adaptive3D’s advanced materials with Desktop Metal’s high-throughput printers. This acquisition positions Desktop Metal to capture a share of the estimated $129 billion elastomer market.
Desktop Health, launched by Desktop Metal, has received FDA 510(k) clearance for its FlexceraTM Base, a proprietary resin for 3D fabrication of dental prosthetics. This marks the company's entry into the digital dental solutions market alongside FlexceraTM Smile. The global dentures market is projected to reach $3.8 billion by 2027, driven by the increasing edentulous population in the U.S. Flexcera promises enhanced strength, aesthetics, and moisture resistance, making it suitable for same-day dental prosthetics, with commercialization expected by June.
Desktop Metal, Inc. (NYSE: DM) announced that it will release its first-quarter financial results for the period ending March 31, 2021, after market closure on May 17, 2021. A presentation summarizing the financial results will be available on the Investor Relations website. The company will hold a conference call at 4:30 p.m. EST on the same day to discuss the results.
Desktop Metal, founded in 2015, focuses on transforming manufacturing through innovative 3D printing solutions and has gained recognition from the World Economic Forum and MIT Technology Review.
Desktop Metal (NYSE: DM) is set to present at two investor conferences. The first will be the 16th Annual Needham Virtual Technology & Media Conference on May 19, 2021, at 10:15 - 10:55 a.m. ET, followed by the Stifel 2021 Virtual Cross Sector Insight Conference on June 10, 2021, at 11:20 - 11:50 a.m. ET. Both events will include one-on-one meetings for institutional investors. Interested parties can access webcasts on the Events and Presentations section of the company's investor relations website.
Desktop Metal (NYSE: DM) has launched Forust™, a groundbreaking 3D printing process that transforms wood manufacturing waste into functional wood parts. Utilizing patented binder jetting technology, Forust upcycles cellulose dust and lignin, producing high-quality custom wooden items with a digital grain. This innovation offers architects and designers a sustainable alternative to traditional woodworking, significantly reducing waste and carbon footprints while enhancing design capabilities. The global finished wood products market is projected to reach $1.8 trillion by 2027, presenting substantial growth opportunities for Forust.
Desktop Metal (NYSE: DM) has successfully qualified 316L stainless steel for its Production System™ platform, utilizing Single Pass Jetting™ (SPJ) technology for enhanced speed in metal additive manufacturing. With applications across marine, pharmaceutical, and medical industries, 316L offers excellent corrosion resistance and mechanical properties. Notably, the Production System P-50 can produce over 5,500 parts weekly at competitive costs, demonstrating its capability to deliver high-quality, end-use parts efficiently.
Adaptive3D has partnered with EnvisionTEC to distribute ToughRubber™ photoresins optimized for use with Xtreme 8K digital light processing printers. This collaboration aims to advance additive manufacturing solutions for elastomeric parts, significantly enhancing production efficiency. Adaptive3D's photoelastomers promise durability and high-quality finishes, catering to diverse industries including medical and transportation. Both companies emphasize the move towards Additive Manufacturing 2.0, showcasing their commitment to innovative 3D printing solutions.
Desktop Metal (NYSE: DM) has launched Desktop Health, a new business line focused on additive manufacturing solutions for dental, orthodontic, and otolaryngology applications. The initiative aims to leverage technologies like bioprinting and metal binder jetting to develop healthcare applications. CEO Ric Fulop highlighted the opportunity to manufacture patient-specific medical products, targeting a market worth over $85 billion. Michael Mazen Jafar has been appointed President and CEO of Desktop Health, bringing 20 years of healthcare experience.
Desktop Metal (NYSE: DM) reported its Q4 and full-year 2020 financial results, highlighting a transformative year as it became the first publicly traded pure-play AM 2.0 company.
Q4 revenue surged to $8.4 million, up from $2.5 million in Q3, while full-year revenue hit $16.5 million. The company faced a net loss of $25.4 million in Q4 and $90.4 million for the year. The acquisition of EnvisionTEC boosts its solutions portfolio and market position. The company's cash and short-term investments reached $595.4 million.
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