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) announces platinum as a customer-qualified material on its Production System™ P-1, developed with Italy-based Legor.
Legor, renowned for its metals science, has created a proprietary ruthenium-based platinum powder for additive manufacturing. This milestone enhances Desktop Metal's portfolio for the jewelry industry, which includes materials like stainless steel, silver, titanium, and gold.
Legor's 3D printed platinum jewelry will be showcased at Rapid + TCT from June 25-27 in Los Angeles. The binder jet 3D printing technology allows rapid production, design freedom, and sustainability by minimizing waste and reducing energy consumption.
This development signifies a major advancement in the production of intricate and high-quality jewelry items.
Desktop Metal (NYSE: DM) has launched Live Inspect™, a cutting-edge software for analyzing and correcting deviations in 3D printed parts. This tool, part of the Live Suite software package, enhances accuracy by providing tolerance analysis and automatically adjusting scans. Available as a standalone product or bundled with Live Sinter, Live Inspect supports various additive manufacturing technologies, including metal binder jetting and polymer parts production. The software aims to align printed parts closely with CAD designs, addressing common defects. Live Inspect will debut at the Rapid + TCT event in Los Angeles from June 25-27.
Desktop Metal (NYSE: DM) announced a 1-for-10 reverse stock split for its Class A common stock, effective June 10, 2024, after trading hours.
The stock will start trading on a split-adjusted basis on June 11, 2024, to meet NYSE’s minimum bid price requirement.
The new CUSIP number will be 25058X 303. Approved by shareholders on June 7, 2024, the reverse split will reclassify every 10 existing shares into one new share.
Proportional adjustments will be made to equity awards and plans. No fractional shares will be issued; cash payments will be made for fractional entitlements.
The transfer agent, Continental Stock Transfer & Trust, will handle the exchange. No action is required by shareholders holding shares electronically or through brokers.
Desktop Metal (NYSE: DM) has unveiled the PureSinter™, a high-purity vacuum furnace designed for one-run debinding and sintering of metal parts. It is compatible with both Additive Manufacturing and traditional methods, featuring a 15.8L retort. Developed over five years, the furnace promises ease-of-use, premium performance, and low operating costs. It features a patent-pending design, 17 fans, and a pop-out ceiling vent, allowing rapid cooling from 1,420°C to 200°C in under four hours. The first unit has been installed at FreeFORM Technologies, and standard shipments will start in Q3. PureSinter will debut at Rapid + TCT in Los Angeles from June 25-27.
Evology Manufacturing, an ITAR-registered contract manufacturer with over 30 years of experience, has adopted Desktop Metal's Figur G15 system featuring Digital Sheet Forming (DSF) technology. This innovation allows rapid sheet metal production without the need for expensive stamping presses or custom tools. The Figur G15 forms metal directly from digital files, significantly reducing production times. Evology's new system can produce parts within a day or two, with cycle times under one hour for even large parts. This technology will be showcased at the RAPID + TCT event from June 25-27, 2023, in Los Angeles. Desktop Metal has installed four Figur G15 Pro systems across three manufacturers, including Evology.
Desktop Metal, Inc. announced its first quarter 2024 financial results with revenue of $40.6 million, down less than 2% year over year. The 1Q 2024 net loss was $(52.1) million, impacted by one-time noncash charges. Adjusted EBITDA improved year-over-year by 44%. Ongoing cost reduction efforts yielded improvements in various aspects. The company plans to explore strategic alternatives for its photopolymer portfolio. Despite challenges, Desktop Metal is confident in achieving positive adjusted EBITDA in the second half of 2024 due to strong demand for its production binder jet systems.
Desktop Metal announced the launch of a Reactive Safety Kit for the Production System P-1, enabling safe, high-speed 3D printing of titanium and aluminum parts. The P-1 with Single Pass Jetting™ technology can complete each part layer in less than 3 seconds, making it ideal for R&D scaling and full production. Several major manufacturers have contracts with DM to scale titanium and aluminum projects. DM is displaying the P-1 at RAPID + TCT, showcasing its capabilities.
Desktop Health™ announced the validation of Flexcera™ Family Resins for Asiga® 3D Printers, expanding global access to premium digital dental applications. Flexcera, FDA 510(k) cleared nanoceramic polymers, are now validated on Asiga 3D printers, accelerating growth in the dental 3D printing market projected to reach $8.1B by 2029. Flexcera Smile Ultra+, Smile, and Base are now available for dental labs and practices in the US, UK, EEA, and Canada, delivering innovative and high-quality solutions.
Desktop Metal, Inc. (NYSE: DM) will release its financial results for the first quarter of 2024 on May 9, 2024. The company will host a conference call to discuss the results at 8:30 a.m. ET. Participants can access the call online or via phone. A summary presentation will be available on the Investor Relations website.
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