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Desktop Metal, Inc. - DM STOCK NEWS

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.

News

Desktop Metal Announces Fourth Quarter and Full Year 2023 Financial Results

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Desktop Metal, Inc. (NYSE: DM) reported a revenue of $52.3 million for Q4 2023, down from $60.6 million year-over-year. The company saw improvements in net loss, adjusted EBITDA, gross margins, operating expenses, and operating cash flow. Despite a net loss of $(323.4) million in 2023, there was a significant improvement from $(740.3) million in 2022. Desktop Metal initiated cost reduction efforts totaling over $150 million, leading to positive results. The company's adjusted EBITDA of $(9.2) million marked a 56% year-over-year improvement, the strongest quarterly performance to date. Cash reserves closed at $84.5 million, with a 25% decrease in cash consumption compared to the previous year. The company provided a full-year 2024 revenue guidance of $175-$215 million and adjusted EBITDA between $(30)-$(10) million, aiming for breakeven in the second half of 2024.
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Desktop Metal to Release Fourth Quarter and Full Year 2023 Financial Results on Friday, March 15, 2024

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Desktop Metal, Inc. (NYSE: DM) will report financial results for Q4 and full year 2023 on March 15, 2024. A conference call will be held to discuss the results.
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Desktop Metal and Evonik Expand Partnership, Announce Qualification of Photopolymer on Large Format Additive Manufacturing 2.0 Systems for High-Performance, High-Temperature Products

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Evonik and Desktop Metal collaborate to qualify INFINAM® ST 6100 L for 3D printing on ETEC Xtreme 8K and Pro XL, offering high-strength photopolymer resin for aerospace, automotive, and electronics industries.
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Desktop Health™ Announces Flexcera™ Base Ultra+ Dental Resin for Stronger, More Comfortable 3D Printed Dentures

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Desktop Health, a subsidiary of Desktop Metal, Inc. (NYSE: DM), introduces Flexcera Base Ultra+, a stronger 3D printable resin for gingiva fabrication in dentures. The updated formulation offers improved durability, fit, and aesthetics, with 50% more strength and 70% greater resistance to deformation. This innovation aims to revolutionize the dentures market, which is projected to grow at a CAGR of 7.5% from 2024 to 2030, reaching $4.6B. Flexcera Base Ultra+ is FDA 510(k) Class II cleared, CE Marked, and MDR Class I certified, catering to the increasing demand for digital denture solutions.
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Desktop Metal Intensifies Cost Reduction Plan and Ongoing Strategic Business Review to Accelerate Path to Profitability

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Desktop Metal, Inc. (NYSE: DM) announced a $50 million cost-reduction plan, including a 20% workforce reduction, to align its cost structure to current market dynamics. The company aims to generate positive cash flow and achieve sustainable profitability amidst a downturn in the additive manufacturing industry. The plan anticipates additional annualized cost savings of $50 million, with the majority to be realized by the end of this month. The effort is part of a broader strategic business review and other actions, including continued consolidation of facilities and product rationalization.
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Carbon Introduces Three New Resins to Its Platform, Unlocking New Applications for Dental Labs

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Carbon (CARB) introduces new dental resins Pac-Dent Rodin™ Sculpture, Desktop Health™ Flexcera™ Base, and Keystone Industries KeyGuard™ to diversify dental labs' offerings and streamline workflows.
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Desktop Metal Now Shipping the Figur G15 – a Digital Sheet Metal Forming Machine that Eliminates the Need for Custom Tooling

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Desktop Metal (DM) announced the commercial shipments of Figur G15, a Digital Sheet Forming (DSF) machine tool, to Saltworks Fab, a Florida-based automotive restoration and hot rod company. The Figur G15 uses patent-pending DSF technology, shaping standard sheet metal into parts with a maximum sheet size of 1600 x 1200 mm and a draw depth of up to 400 mm. It supports forming a range of metals and sheet thicknesses, offering a competitive way for manufacturers to produce sheet metal parts quickly without high startup costs. The Figur G15 has sold out its initial manufacturing run and is accelerating production to meet demand.
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Desktop Health Announces First Patients Treated with FDA-Cleared CMFlex™ – an Off-the-Shelf 3D Printed Synthetic Bone Graft Product Pioneered by Dimension Inx on the 3D-Bioplotter®

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Dimension Inx (DM) has successfully implanted its innovative CMFlex material in multiple patients, marking a significant milestone in regenerative therapeutics. CMFlex, the first 3D printed regenerative bone graft product cleared by the FDA, eliminates the need for invasive bone harvesting and shaping. The product has been used in jaw surgeries and dental socket preservation cases, showcasing its versatility and potential impact on the medical industry. Dimension Inx's co-founders, Dr. Ramille Shah and Dr. Adam Jakus, have been instrumental in the development and manufacturing of CMFlex, demonstrating the company's commitment to cutting-edge medical solutions.
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Desktop Metal, Inc. Receives Continued Listing Standard Notice from NYSE

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Desktop Metal, Inc. (NYSE: DM) received a notice from the NYSE on November 22, 2023, indicating non-compliance with the NYSE's continued listing standards due to the average closing price of its common stock being less than $1.00 over a consecutive 30 trading-day period. The notice does not lead to immediate delisting, allowing a six-month period for Desktop Metal to regain compliance. The company intends to consider alternatives, including a reverse stock split, to cure the stock price non-compliance.
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Desktop Metal Announces Third Quarter 2023 Financial Results

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Desktop Metal, Inc. (NYSE: DM) announced cost reductions and Q3 2023 financial results, with revenue of $42.8 million, GAAP gross margin of 4.5%, non-GAAP gross margin of 21.9%, and cash at $108.2 million. Full-year 2023 guidance revised to revenue of $187 to $207 million and adjusted EBITDA between $(70) to $(50) million.
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FAQ

What is the current stock price of Desktop Metal (DM)?

The current stock price of Desktop Metal (DM) is $4.4 as of November 21, 2024.

What is the market cap of Desktop Metal (DM)?

The market cap of Desktop Metal (DM) is approximately 151.1M.

What does Desktop Metal, Inc. specialize in?

Desktop Metal specializes in 3D printing for metal and carbon fiber, aimed at design and manufacturing teams for prototyping and mass production.

Where is Desktop Metal headquartered?

Desktop Metal is headquartered just outside of Boston, Massachusetts.

Who are some of the notable investors in Desktop Metal?

Notable investors include Google, BMW, Lowe’s, and Kleiner Perkins Caufield & Byers.

What industries can benefit from Desktop Metal's 3D printing technology?

Industries such as automotive, consumer goods, industrial equipment, and mechanical systems can benefit from Desktop Metal's 3D printing technology.

In which regions does Desktop Metal ship its products?

Desktop Metal ships its products to markets in the Americas, Europe Middle East and Africa (EMEA), and Asia Pacific (APAC).

What notable recognitions has Desktop Metal received?

Desktop Metal was named one of the world’s 30 most promising technology pioneers by the World Economic Forum in 2017 and was included in MIT Technology Review’s list of the 50 smartest companies.

How much equity funding has Desktop Metal raised?

Desktop Metal has raised $212 million in equity funding.

What is the main revenue source for Desktop Metal?

The main revenue source for Desktop Metal is the Americas.

How does Desktop Metal contribute to the healthcare sector?

Through Desktop Health, Desktop Metal applies its 3D printing technology to create innovative solutions for the healthcare sector.

What kind of professionals is Desktop Metal looking to hire?

Desktop Metal is looking to hire curious and driven engineers, scientists, and designers to join their team.

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Desktop Metal, Inc.

NYSE:DM

DM Rankings

#4071 Ranked by Market Cap
N/A Ranked by Dividends

DM Stock Data

151.11M
23.89M
28.33%
35.31%
8.1%
Computer Hardware
Special Industry Machinery, Nec
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United States of America
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