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.
Overview
Desktop Metal Inc (symbol: DM) is a transformative force in the advanced manufacturing landscape, pioneering the integration of 3D printing technology into metal and carbon fiber parts production. Employing a cutting-edge approach that combines materials science, hardware and software engineering, and innovative design, the company delivers solutions that streamline the entire process from rapid prototyping to scalable mass production. Industry-specific keywords such as "3D printing", "additive manufacturing", and "design innovation" underscore its technical expertise and market impact.
Core Business Operations
The company specializes in creating high-quality metal parts through state-of-the-art 3D printing techniques that cater to diverse applications. By reinventing traditional manufacturing processes, Desktop Metal Inc enables design and engineering teams to rapidly iterate prototypes and efficiently transition to full-scale production. Its robust ecosystem of technologies and integrated workflows addresses the needs of sectors such as automotive, consumer goods, industrial equipment, and mechanical systems.
Technological Innovation
At the heart of Desktop Metal Inc's operations is its innovative approach to additive manufacturing. The company continually refines its processes to improve reliability, precision, and production speed while maintaining high standards of quality. Leveraging the latest advancements in materials science coupled with sophisticated software and hardware solutions, the firm provides a versatile platform that supports a wide range of manufacturing challenges and applications.
Market Reach and Global Presence
Operating across key global regions, including the Americas, Europe, the Middle East, Africa, and the Asia Pacific, Desktop Metal Inc has strategically positioned itself to serve a broad spectrum of markets. While the company derives a significant portion of its revenue from the Americas, its innovative solutions have cemented its presence across multiple continents, reinforcing its commitment to making advanced metal 3D printing accessible to diverse engineering and manufacturing communities.
Industry Impact and Recognition
Desktop Metal Inc has garnered attention from industry observers and experts by showcasing its pioneering work in the 3D printing sector. This recognition is a testament to its dedication to redefining manufacturing paradigms through a blend of technical ingenuity and practical applications. The company’s collaborative efforts in research and continuous innovation help it to maintain a competitive edge by addressing complex manufacturing challenges with precision and scalability.
Competitive Position and Value Proposition
The core value proposition of Desktop Metal Inc lies in its ability to bridge the gap between traditional manufacturing methods and futuristic additive processes. By combining state-of-the-art technology with an in-depth understanding of materials and design, the company offers a unique solution that not only enhances production efficiency but also opens new possibilities in product development. Its integrated approach and commitment to technological excellence set it apart in a competitive market, ensuring that design and manufacturing teams can achieve optimal outcomes with reliable, high-quality metal parts.
Conclusion
In summary, Desktop Metal Inc exemplifies the evolution in manufacturing, reinforcing its position as a critical player in the field of metal 3D printing. Through its commitment to research, innovative design, and efficient production, the company provides robust solutions that empower a wide array of industries to achieve greater precision and versatility in manufacturing. Its holistic approach and expert integration of engineering disciplines make it a noteworthy entity in the landscape of advanced manufacturing technologies.
Desktop Metal (NYSE: DM) has announced the sale of its first PureSinter™ Furnace to AmPd Labs, a Houston-based additive manufacturing service provider. The PureSinter, launched in June, offers one-run debinding and sintering of metal parts in a 15.8L retort. It features a patent-pending design that delivers parts-per-billion purity levels in a high-efficiency, airtight environment.
AmPd Labs, a Desktop Metal customer since 2021, operates three DM Shop System printers and two other DM furnaces. The company provides services across the entire product lifecycle, from design to full-scale production. The PureSinter Furnace is expected to enable AmPd Labs to meet high-volume customer production demands rapidly.
Desktop Metal CEO Ric Fulop believes the PureSinter will revolutionize sinter-based AM and the traditional furnace industry. Shipments to customers are set to begin this quarter.
Desktop Metal (NYSE: DM) will showcase new breakthroughs in metal and ceramic binder jet 3D printing at RAPID + TCT in Los Angeles from June 25-27. The company will present over 24 customer applications, including high-value aerospace, electronics, medical, and consumer goods parts. Highlights include the debut of the PureSinter Furnace and significant advancements in binder jetting AL6061 powder. Collaborations with industry leaders like Eaton and BEGA will be featured, demonstrating Desktop Metal's ability to produce high-performance parts. Desktop Metal is the market leader in binder jetting, with over 1,350 systems installed globally, qualified to print in more than 40 materials.
Desktop Metal (NYSE: DM) has announced the integration of TurboFuse™, a high-speed, high-strength binder, with its X25Pro binder jet 3D printer. TurboFuse enhances 3D print speeds by about 50% and eliminates the need for heating each layer, which generally slows down the printing process. This binder shows improved adhesion to metal powders, resulting in stronger green parts and more efficient depowdering. TurboFuse is compatible with 16 metals and one cermet, expanding its application range. Eaton, a power management company, is currently beta testing TurboFuse at its Additive Manufacturing Center of Excellence, reporting significant improvements in print times. The new binder will be showcased at the RAPID + TCT event in Los Angeles. Upgrade kits for the X25Pro are expected to be available in Q3.
Desktop Metal (NYSE: DM) has announced its collaboration with BEGA, a German leader in architectural lighting, to showcase binder jet 3D printed aluminum lighting components at RAPID + TCT from June 25-27 in Los Angeles. These parts, including a motion sensor cover and collimator housing, were produced using the X25Pro printer with Al6061 powder. Binder jet 3D printing, known for high-volume output and cost efficiency, enables the creation of complex parts with benefits in size, weight, and performance. Desktop Metal has achieved significant advancements in the technology, offering a repeatable process for 99% dense aluminum with properties that meet or exceed those of traditional cast aluminum alloys. The collaboration highlights the potential for 3D printing in industrial applications, promoting sustainable and efficient manufacturing solutions.
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.
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