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Markforged Holding Corporation (NYSE: MKFG) is revolutionizing the manufacturing industry with its cutting-edge industrial 3D printing technology. Based in Waltham, Massachusetts, Markforged is on a mission to unlock significant innovation in design and manufacturing. The company's platform, known as The Digital Forge, integrates hardware, software, and advanced materials to enable efficient and resilient production practices.
Markforged offers a comprehensive suite of 3D printers that utilize metal, composite, and plastic materials to create strong, end-use parts that can withstand the rigors of the factory floor. The company's technology is trusted by industry giants such as NASA, Google, Ford, Amazon, and Siemens, among thousands of others across 50 countries. These organizations leverage Markforged's solutions to produce prototypes and final parts in a fraction of the time and cost associated with traditional manufacturing methods.
Recently, Markforged achieved a noteworthy milestone by beginning the shipment of their latest product, the FX10, in the first quarter of 2024. The market response has been overwhelmingly positive, signaling significant growth potential for the second half of the fiscal year. Despite challenging global capital expenditure trends, the company continues to deliver strong execution and operational efficiency.
The company's financial outlook for 2024 projects revenues between $95 and $105 million, with anticipated growth driven largely by new product offerings like the FX10. Markforged also maintains strong cost controls and aims for non-GAAP gross margins in the range of 48% to 50%.
Markforged operates across a diverse array of industries, including Aerospace, Automotive, Consumer Packaged Goods, Education and Research, Electronics Manufacturing, Energy, Federal and Defense, and Industrial Equipment. The company derives its highest revenue from the Americas, with significant contributions from Europe, the Middle East, Africa, and the Asia-Pacific regions.
For more information, visit www.markforged.com or access the investor section at investors.markforged.com.
Markforged (NYSE: MKFG) reported Q3 2024 financial results with revenue of $20.5 million, up 2.0% year-over-year. The company achieved a non-GAAP gross margin of 50.9%, improving from 46.9% in Q3 2023. Net loss narrowed to $23.4 million from $51.4 million year-over-year. Consumables and services sales grew 11.8% and 13.2% respectively. Cash position stood at $79.5 million as of September 30, 2024. The company announced a pending acquisition by Nano Dimension for $5.00 per share and settled IP litigation with Continuous Composites for $25 million in total payments.
Markforged (NYSE: MKFG) announced it will release its third quarter 2024 financial results after market close on Thursday, November 7, 2024. Due to the pending merger with Nano Dimension announced on September 25, 2024, the company will not host an earnings conference call or provide financial guidance, following standard practice during such transactions.
Nano Dimension has announced its acquisition of Markforged in an all-cash transaction for $5.00 per share, totaling $115 million. This move follows Nano Dimension's recent agreement to acquire Desktop Metal, positioning the company as a leading player in Additive Manufacturing (AM). The combined entity, including Nano Dimension, Desktop Metal, and Markforged, is expected to have a 2023 revenue of $340 million and approximately $475 million in cash and cash equivalents post-closing.
The acquisition aims to expand Nano Dimension's product portfolio, particularly in fused filament fabrication (FFF) for high-performance applications and Metal-AM. It also strengthens the company's focus on sophisticated materials for high-performance applications. The transaction is expected to close in the first quarter of 2025, subject to Markforged stockholder approval and regulatory clearances.
Markforged Holding (NYSE: MKFG) has announced a Settlement and Patent License Agreement with Continuous Composites Inc., resolving all claims in their patent infringement litigation. The settlement includes an upfront payment of $18 million from Markforged, followed by three additional installments totaling $7 million over the next three years. The agreement provides for cross-licenses of patent portfolios, mutual release of claims, and covenants not to sue.
Additionally, Markforged reported the successful launch of metal printing capability for the FX10, described as the world's first industrial 3D printer for metals and composites, at the International Manufacturing Technology Show in Chicago. CEO Shai Terem expressed satisfaction with the settlement and excitement about the FX10 launch, emphasizing the company's focus on advancing strategic objectives and bringing industrial 3D printing to factory floors.
Markforged Holding (NYSE: MKFG) has announced a 1-for-10 reverse stock split of its Common Stock, effective September 19, 2024. This move aims to bring the company into compliance with the NYSE's minimum bid price requirement. Key points include:
- Outstanding shares will reduce from ~203 million to ~20.3 million
- Trading under symbol 'MKFG' continues with a new CUSIP number
- Proportional adjustments to equity incentive plans and warrants
- Authorized shares reduced from 1 billion to 100 million
- No fractional shares issued; stockholders receive whole shares
The split affects stockholders of record and those owning shares through brokers. Continental Stock Transfer & Trust Company is managing the exchange process.
Markforged (NYSE: MKFG) has introduced the FX10 Metal Kit, transforming the FX10 into the world's first industrial 3D printer capable of printing both metal filaments and composites with continuous fiber reinforcement. This modular upgrade enhances the versatility of the FX10, released in November 2023, allowing customers to gain additional value post-purchase.
Key features include:
- New 316L stainless steel metal filament, with future support for other metals
- Swappable print engine for easy transition between metal and composite printing
- 2nd Generation Metal FFF engine for faster printing
- Twice the print volume of previous Markforged industrial metal printers
- Integration with Markforged's Wash-1 and Sinter-2 solutions for post-processing
- Eiger software for automated process management
The FX10 Metal Kit aims to increase factory floor productivity and reduce potential line down events.
Markforged (NYSE: MKFG) announced Q2 2024 financial results and a $25M cost reduction initiative. Key highlights:
- Revenue: $21.7M (vs $25.4M in Q2 2023)
- Gross margin: 50.2% (vs 47.0%)
- Net loss: $14.4M (vs $19.0M)
- Cash and equivalents: $93.9M
The company shipped its first PX100 metal binder jetting system and accelerated FX10 shipments. Markforged updated its 2024 outlook, expecting revenues between $90-95M and non-GAAP gross margins in the upper range of 48-50%. The company anticipates returning to year-over-year revenue growth in H2 2024.
Markforged (NYSE: MKFG), a company focused on strengthening manufacturing resiliency through point-of-need industrial production, has announced its upcoming financial results release for the second quarter of 2024. The company will disclose its Q2 2024 financial results, covering the period ending June 30, 2024, after market close on Thursday, August 8, 2024.
Following the release, Markforged will host a webcast and conference call at 5:00 PM ET on the same day to discuss the results. Interested parties can access the earnings press release, related materials, and audio webcast through the company's investor relations website. For those preferring to participate via phone, dial-in numbers are provided.
Markforged Holding (NYSE: MKFG) announced its first quarter 2024 financial results, reporting revenue of $20.5 million, gross margin of 49.3%, and net loss of $35.9 million. The company started the year with strong execution, shipping the FX10 3D printer and focusing on operational efficiencies. Despite a patent verdict and appointment of a new director, Markforged reiterates its 2024 guidance.
Markforged (NYSE: MKFG) will release its financial results for the first quarter ended March 31, 2024, on May 8, 2024. The company will host a webcast and conference call to discuss the results. Participants can access the earnings press release and the audio webcast via the investors section of the Company's website. A replay will be available for those unable to listen live.
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