Markforged Announces Fourth Quarter and Full Year 2024 Results
Markforged (NYSE: MKFG) has released its Q4 and full-year 2024 financial results, showing mixed performance. Q4 revenue declined to $22.4M from $24.2M year-over-year, with gross margin decreasing to 44.8% from 48.4%. The company reduced its net loss to $11.9M compared to $14.2M in Q4 2023.
For full-year 2024, revenue decreased to $85.1M from $93.8M, while gross margin improved to 48.3% from 47.4%. Cash position weakened significantly, with cash and equivalents at $53.6M compared to $116.9M at the end of 2023. Net cash used in operations increased to $61.3M from $48.9M.
Notably, Nano Dimension is set to acquire Markforged in an all-cash transaction at $5.00 per share, with the deal expected to close by Q2 2025, subject to regulatory approvals.
Markforged (NYSE: MKFG) ha rilasciato i risultati finanziari del Q4 e dell'intero anno 2024, mostrando una performance mista. I ricavi del Q4 sono diminuiti a 22,4 milioni di dollari rispetto ai 24,2 milioni dell'anno precedente, con un margine lordo che è sceso al 44,8% dal 48,4%. L'azienda ha ridotto la sua perdita netta del Q4 a 11,9 milioni di dollari rispetto ai 14,2 milioni.
I risultati dell'anno intero 2024 hanno mostrato ricavi di 85,1 milioni di dollari rispetto ai 93,8 milioni del 2023, anche se il margine lordo è migliorato al 48,3% dal 47,4%. La posizione di cassa è diminuita significativamente a 53,6 milioni di dollari rispetto ai 116,9 milioni dell'anno precedente. Il denaro netto utilizzato nelle operazioni è aumentato a 61,3 milioni di dollari rispetto ai 48,9 milioni.
È interessante notare che Nano Dimension è pronta ad acquisire Markforged in una transazione completamente in contante a 5,00 dollari per azione, con l'accordo previsto per chiudere entro il Q2 2025, soggetto ad approvazioni regolatorie.
Markforged (NYSE: MKFG) ha publicado sus resultados financieros del Q4 y del año completo 2024, mostrando un rendimiento mixto. Los ingresos del Q4 disminuyeron a 22,4 millones de dólares desde 24,2 millones del año anterior, con un margen bruto que bajó al 44,8% desde el 48,4%. La compañía redujo su pérdida neta del Q4 a 11,9 millones de dólares desde 14,2 millones.
Los resultados del año completo 2024 mostraron ingresos de 85,1 millones de dólares en comparación con 93,8 millones en 2023, aunque el margen bruto mejoró al 48,3% desde el 47,4%. La posición de efectivo disminuyó significativamente a 53,6 millones de dólares desde 116,9 millones del año anterior. El efectivo neto utilizado en operaciones aumentó a 61,3 millones de dólares desde 48,9 millones.
Notablemente, Nano Dimension está a punto de adquirir Markforged en una transacción totalmente en efectivo a 5,00 dólares por acción, con el acuerdo que se espera cerrar para el Q2 2025, sujeto a aprobaciones regulatorias.
Markforged (NYSE: MKFG)가 2024년 4분기 및 연간 재무 결과를 발표했으며, 혼합된 성과를 보여주고 있습니다. 4분기 수익은 전년 대비 2420만 달러에서 2240만 달러로 감소했으며, 총 마진은 48.4%에서 44.8%로 줄어들었습니다. 회사는 4분기 순손실을 1420만 달러에서 1190만 달러로 줄였습니다.
2024년 전체 결과는 2023년 9380만 달러에 비해 8510만 달러의 수익을 보여주었고, 총 마진은 47.4%에서 48.3%로 개선되었습니다. 현금 보유액은 전년 대비 1169만 달러에서 536만 달러로 크게 감소했습니다. 운영에서 사용된 순 현금은 489만 달러에서 613만 달러로 증가했습니다.
특히, Nano Dimension이 주당 5.00달러의 전액 현금 거래로 Markforged를 인수할 예정이며, 이 거래는 2025년 2분기까지 종료될 것으로 예상되며, 규제 승인을 받아야 합니다.
Markforged (NYSE: MKFG) a publié ses résultats financiers du 4ème trimestre et de l'année 2024, montrant une performance mitigée. Les revenus du 4ème trimestre ont diminué à 22,4 millions de dollars contre 24,2 millions d'une année sur l'autre, avec une marge brute passant de 48,4 % à 44,8 %. L'entreprise a réduit sa perte nette du 4ème trimestre à 11,9 millions de dollars contre 14,2 millions.
Les résultats de l'année complète 2024 ont montré des revenus de 85,1 millions de dollars par rapport à 93,8 millions en 2023, bien que la marge brute se soit améliorée à 48,3 % contre 47,4 %. La position de trésorerie a diminué de manière significative à 53,6 millions de dollars contre 116,9 millions d'une année sur l'autre. La trésorerie nette utilisée dans les opérations a augmenté à 61,3 millions de dollars contre 48,9 millions.
Il est à noter que Nano Dimension est sur le point d'acquérir Markforged dans une transaction entièrement en espèces à 5,00 dollars par action, l'accord devant être finalisé d'ici le 2ème trimestre 2025, sous réserve des approbations réglementaires.
Markforged (NYSE: MKFG) hat seine Finanzzahlen für das 4. Quartal und das gesamte Jahr 2024 veröffentlicht, die eine gemischte Leistung zeigen. Die Umsätze im 4. Quartal sanken von 24,2 Millionen Dollar im Vorjahr auf 22,4 Millionen Dollar, während die Bruttomarge von 48,4% auf 44,8% fiel. Das Unternehmen reduzierte seinen Nettoverlust im 4. Quartal auf 11,9 Millionen Dollar von 14,2 Millionen Dollar.
Die Ergebnisse für das gesamte Jahr 2024 zeigten einen Umsatz von 85,1 Millionen Dollar im Vergleich zu 93,8 Millionen Dollar im Jahr 2023, obwohl sich die Bruttomarge von 47,4% auf 48,3% verbesserte. Die Liquiditätsposition sank erheblich auf 53,6 Millionen Dollar von 116,9 Millionen Dollar im Vorjahr. Der Netto-Cashflow aus dem operativen Geschäft stieg auf 61,3 Millionen Dollar von 48,9 Millionen Dollar.
Bemerkenswert ist, dass Nano Dimension plant, Markforged in einer rein bargeldbasierten Transaktion zu einem Preis von 5,00 Dollar pro Aktie zu erwerben, wobei der Abschluss des Deals bis zum 2. Quartal 2025 erwartet wird, vorbehaltlich der regulatorischen Genehmigungen.
- Net loss improved to $11.9M in Q4 2024 from $14.2M in Q4 2023
- Full-year gross margin increased to 48.3% from 47.4%
- Operating expenses reduced to $25.0M from $31.1M in Q4
- Pending acquisition by Nano Dimension at $5.00 per share
- Q4 revenue declined 7.4% to $22.4M from $24.2M
- Full-year revenue decreased 9.3% to $85.1M from $93.8M
- Cash position deteriorated to $53.6M from $116.9M YoY
- Net cash burn increased to $61.3M from $48.9M
- Q4 gross margin declined to 44.8% from 48.4%
Insights
Markforged's Q4 and FY 2024 results paint a challenging financial picture with some important counterbalancing factors. Revenue declined to
The company's cash burn has accelerated substantially, with cash reserves declining from
Gross margins present a mixed picture – quarterly margins declined to
The pending acquisition by Nano Dimension at
WALTHAM, Mass., March 28, 2025 (GLOBE NEWSWIRE) -- Markforged Holding Corporation (NYSE: MKFG) (“Markforged”), the company strengthening manufacturing resiliency by enabling industrial production at the point of need, today announced its financial results for the fourth quarter and full year ended December 31, 2024.
Fourth Quarter 2024 Financial Results Compared To Fourth Quarter 2023
- Revenue was
$22.4 million compared to$24.2 million . - Gross margin was
44.8% compared to48.4% . - Non-GAAP gross margin was
46.4% compared to49.5% . - Operating expenses were
$25.0 million compared to$31.1 million . - Non-GAAP operating expenses were
$19.9 million compared to$24.9 million . - Net loss was
$11.9 million compared to net loss of$14.2 million . - Non-GAAP net loss was
$9.0 million compared to a loss of$11.6 million . - Cash and cash equivalents, including restricted cash, were
$53.6 million as of December 31, 2024, compared to$116.9 million as of December 31, 2023.
Full Year 2024 Financial Results Compared To Full Year 2023
- Revenue was
$85.1 million compared to$93.8 million . - Gross margin was
48.3% compared to47.4% . - Non-GAAP gross margin was
50.1% compared to48.6% . - Net cash used in operating activities was
$61.3 million compared to$48.9 million .
Reconciliations of the non-GAAP financial measures provided in this press release to their most directly comparable GAAP financial measures are provided in the financial tables included at the end of this press release. An explanation of these measures and how they are calculated is also included below under the heading “Non-GAAP Financial Measures.”
“We are encouraged by the continued adoption of our next generation product line, despite the challenging market conditions that we are facing,” said Shai Terem, President and CEO of Markforged. “Furthermore, we remain excited about the pending acquisition by Nano Dimension and the incremental value that we believe it will bring to our customers on the manufacturing floor and beyond.”
Acquisition Updates
- Nano Dimension Ltd. (“Nano Dimension”) to Acquire Markforged: On September 25, 2024, Markforged entered into a definitive agreement (the “Merger Agreement”) pursuant to which Nano Dimension will acquire all outstanding shares of Markforged in an all-cash transaction for
$5.00 per share, without interest and less any applicable tax withholdings (the “Merger”). The transaction, which was unanimously approved by the Boards of Directors of both companies, is expected to close by the second quarter of 2025, subject to the satisfaction or waiver of certain closing conditions, including receipt of required regulatory approval from the Committee on Foreign Investment in the United States.
No Earnings Call and Guidance
In light of the pending merger transaction with Nano Dimension announced on September 25, 2024, and as is customary during the pendency of such transactions, Markforged will not host an earnings conference call and is not providing forward-looking guidance.
About Markforged
Markforged (NYSE:MKFG) is enabling more resilient and flexible manufacturing by bringing industrial 3D printing right to the factory floor. Our additive manufacturing platform The Digital Forge allows manufacturers to create strong, accurate parts in both metal and advanced composites. With over 10,000 customers in 70+ countries, we’re bringing on-demand industrial production to the point of need. We are headquartered in Waltham, Mass where we design the hardware, software and advanced materials that make The Digital Forge reliable and easy to use. To learn more, visit www.markforged.com.
Non-GAAP Financial Measures
In addition to our financial results determined in accordance with U.S. generally accepted accounting principles (“GAAP”), we believe that each of non-GAAP gross margin, non-GAAP operating profit (loss) and non-GAAP net profit (loss), each a non-GAAP financial measure, is useful in evaluating the performance of our business.
These non-GAAP measures have limitations as an analytical tool. We do not, nor do we suggest that investors should, consider such non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors should also note that the non-GAAP financial measures we use may not be the same non-GAAP financial measures, and may not be calculated in the same manner, as that of other companies, including other companies in our industry.
We recommend that you review the reconciliation of these non-GAAP measures to the most directly comparable GAAP financial measures provided in the financial statement tables included below in this press release, and that you not rely on any single financial measure to evaluate our business. Additionally, to the extent that forward-looking non-GAAP financial measures are provided, they are presented on a non-GAAP basis without reconciliations of such forward-looking non-GAAP measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations.
The following are the non-GAAP financial measures referenced in this press release and presented in the tables below:
- Non-GAAP gross margin is defined as GAAP gross profit (loss), less stock-based compensation expense, amortization, and certain non-recurring costs, divided by revenue.
- Non-GAAP operating profit (loss) is defined as GAAP operating profit (loss) less stock-based compensation expense, amortization, and certain non-recurring costs.
- Non-GAAP net profit (loss) is defined as GAAP net profit (loss) less stock-based compensation expense, net change in fair value of warrant liabilities and contingent earnout liabilities, amortization, and certain non-recurring costs.
Forward-Looking Statements
Any statements in this message about Markforged’s future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
Such statements are subject to risks and uncertainties and actual results may differ materially from those expressed or implied by such forward-looking statements. Such forward-looking statements include statements relating to the proposed Merger between Markforged and Nano Dimension, the benefits sought to be achieved through the transaction, the anticipated timing of the consummation of the Merger, the potential effects of the transaction, the ability of Markforged and Nano Dimension to complete the transactions contemplated by the Merger Agreement, including the parties’ ability to satisfy the conditions to the consummation of the Merger contemplated thereby, Markforged’s business and expectations regarding outlook and all underlying assumptions, Markforged’s objectives, plans and strategies, operating trends in markets where Markforged operates, projections of results of operations or of financial condition and all other statements other than statements of historical fact that address activities, events or developments that Markforged intends, expects, projects, believes or anticipates will or may occur in the future. Such statements are based on management’s beliefs and assumptions made based on information currently available to management. All statements in this communication, other than statements of historical fact, are forward-looking statements that may be identified by the use of the words “outlook,” “guidance,” “expects,” “believes,” “anticipates,” “should,” “estimates,” “may,” “will,” “intends,” “projects,” “could,” “would,” “estimate,” “potential,” “continue,” “plan,” “target,” or the negative of these words or similar expressions. These forward-looking statements involve known and unknown risks and uncertainties, which may cause Markforged’s actual results and performance to be materially different from those expressed or implied in the forward-looking statements. Factors and risks that may cause Markforged’s or Nano Dimension’s actual results or performance to be materially different from those expressed or implied in the forward-looking statements include, but are not limited to: (i) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement; (ii) the effect of the announcement of the proposed transaction on the ability of Markforged to operate its business and retain and hire key personnel and to maintain favorable business relationships; (iii) the ability of the parties to consummate the proposed transaction in a timely manner or at all; (iv) the satisfaction (or waiver) of closing conditions to the consummation of the proposed transaction, including the receipt of required regulatory approvals; (v) the response of competitors, suppliers and customers to the proposed transaction; (vi) risks associated with the disruption of management’s attention from ongoing business operations due to the proposed transaction; (vii) significant costs associated with the proposed transaction; (viii) the ultimate impact of the proposed transaction between Desktop Metal, Inc. (“Desktop Metal”) and Nano Dimension, including the impact, if any, of litigation between Desktop Metal and Nano Dimension, or any other potential litigation relating to the proposed Merger between Nano Dimension and Markforged; (ix) restrictions during the pendency of the proposed transaction that may impact Markforged’s ability to pursue certain business opportunities; (x) the ability of Markforged to continue as a going concern; and (xi) other risks, uncertainties and factors discussed and described in reports filed with the Securities and Exchange Commission (“SEC”) by Markforged and Nano Dimension from time to time, including those under the heading “Risk Factors” in their respective most recently filed reports on Form 10-K, 10-Q or 20-F, as applicable, and subsequent filings with the SEC.
The forward-looking statements included in this communication are made only as of the date hereof. Markforged undertakes no obligation to update any forward-looking statements to reflect subsequent events or circumstances, except as required by law.
Media
Sam Manning, Public Relations Manager
sam.manning@markforged.com
| MARKFORGED HOLDING CORPORATION | ||||||||
| CONSOLIDATED BALANCE SHEETS | ||||||||
| As of December 31, 2024 and 2023 | ||||||||
| (In thousands, except share data and par value amounts) | ||||||||
| December 31, 2024 | December 31, 2023 | |||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 53,629 | $ | 116,854 | ||||
| Accounts receivable, net of allowance for expected credit losses ( | 20,545 | 24,059 | ||||||
| Inventory | 22,362 | 26,773 | ||||||
| Prepaid expenses | 2,689 | 2,756 | ||||||
| Other current assets | 2,029 | 2,022 | ||||||
| Total current assets | 101,254 | 172,464 | ||||||
| Property and equipment, net | 14,454 | 17,713 | ||||||
| Intangible assets, net | 19,717 | 17,128 | ||||||
| Right-of-use assets | 30,562 | 36,884 | ||||||
| Other assets | 2,929 | 3,763 | ||||||
| Total assets | $ | 168,916 | $ | 247,952 | ||||
| Liabilities and Stockholders’ Equity | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 16,338 | $ | 13,235 | ||||
| Accrued expenses | 8,623 | 9,840 | ||||||
| Deferred revenue | 9,098 | 8,779 | ||||||
| Short-term settlement payable | 1,000 | — | ||||||
| Lease liabilities | 5,771 | 7,368 | ||||||
| Other current liabilities | — | 1,526 | ||||||
| Total current liabilities | 40,830 | 40,748 | ||||||
| Long-term settlement payable | 4,353 | — | ||||||
| Long-term deferred revenue | 4,609 | 6,083 | ||||||
| Contingent earnout liability | 5,037 | 1,379 | ||||||
| Long-term lease liabilities | 26,873 | 35,771 | ||||||
| Other liabilities | 711 | 2,361 | ||||||
| Total liabilities | 82,413 | 86,342 | ||||||
| Commitments and contingencies | ||||||||
| Stockholders’ equity | ||||||||
| Preferred stock, | — | — | ||||||
| Common stock, | 21 | 19 | ||||||
| Additional paid-in capital | 378,431 | 366,281 | ||||||
| Accumulated deficit | (290,230 | ) | (204,664 | ) | ||||
| Accumulated other comprehensive income | (1,719 | ) | (26 | ) | ||||
| Total stockholders’ equity | 86,503 | 161,610 | ||||||
| Total liabilities and stockholders’ equity | $ | 168,916 | $ | 247,952 | ||||
| MARKFORGED HOLDING CORPORATION | |||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||
| For the Years Ended December 31, 2024 and 2023 | |||||||
| (In thousands, except share data and per share data) | |||||||
| Year Ended December 31, | |||||||
| 2024 | 2023 | ||||||
| Revenue | $ | 85,090 | $ | 93,784 | |||
| Cost of revenue | 44,020 | 49,370 | |||||
| Gross profit | 41,070 | 44,414 | |||||
| Operating expenses | |||||||
| Sales and marketing | 31,672 | 37,830 | |||||
| Research and development | 32,444 | 40,737 | |||||
| General and administrative | 45,910 | 47,761 | |||||
| Litigation judgement | 17,723 | — | |||||
| Goodwill impairment | — | 29,467 | |||||
| Total operating expenses | 127,749 | 155,795 | |||||
| Loss from operations | (86,679 | ) | (111,381 | ) | |||
| Change in fair value of derivative liabilities | 189 | 472 | |||||
| Change in fair value of contingent earnout liability | (3,658 | ) | 1,036 | ||||
| Other expense, net | (65 | ) | (307 | ) | |||
| Interest expense | (848 | ) | (373 | ) | |||
| Interest income | 4,252 | 6,400 | |||||
| Loss before income taxes | (86,809 | ) | (104,153 | ) | |||
| Income tax benefit | (1,243 | ) | (586 | ) | |||
| Net loss | $ | (85,566 | ) | $ | (103,567 | ) | |
| Weighted average shares outstanding - basic and diluted | 20,252,793 | 19,689,601 | |||||
| Net loss per share - basic and diluted | $ | (4.22 | ) | $ | (5.26 | ) | |
| MARKFORGED HOLDING CORPORATION |
| CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS |
| For the Years Ended December 31, 2024 and 2023 |
| (In thousands) |
| Year Ended December 31, | ||||||||
| 2024 | 2023 | |||||||
| Net loss | $ | (85,566 | ) | $ | (103,567 | ) | ||
| Other comprehensive loss, net of taxes: | ||||||||
| Unrealized loss on available-for-sale marketable securities, net | — | (54 | ) | |||||
| Foreign currency translation adjustment | (1,693 | ) | (1,040 | ) | ||||
| Total comprehensive loss | $ | (87,259 | ) | $ | (104,661 | ) | ||
| MARKFORGED HOLDING CORPORATION | ||||||||||||
| DISAGGREGATED REVENUE BY NATURE OF PRODUCTS AND SERVICES | ||||||||||||
| (In thousands) | ||||||||||||
| Three Months Ended December 31, | Year Ended December 31, | |||||||||||
| (in thousands) | 2024 | 2023 | 2024 | 2023 | ||||||||
| Hardware | $ | 13,588 | $ | 15,432 | $ | 49,103 | $ | 59,287 | ||||
| Consumables | 5,306 | 5,897 | 23,394 | 23,996 | ||||||||
| Services | 3,477 | 2,841 | 12,593 | 10,501 | ||||||||
| Total Revenue | $ | 22,371 | $ | 24,170 | $ | 85,090 | $ | 93,784 | ||||
| MARKFORGED HOLDING CORPORATION | ||||||||||||
| DISAGGREGATED REVENUE BY GEOGRAPHIC LOCATION | ||||||||||||
| (In thousands) | ||||||||||||
| Three Months Ended December 31, | Year Ended December 31, | |||||||||||
| (in thousands) | 2024 | 2023 | 2024 | 2023 | ||||||||
| Americas | $ | 11,164 | $ | 11,228 | $ | 41,295 | $ | 43,715 | ||||
| EMEA | 5,219 | 7,921 | 25,378 | 29,744 | ||||||||
| APAC | 5,988 | 5,021 | 18,417 | 20,325 | ||||||||
| Total Revenue | $ | 22,371 | $ | 24,170 | $ | 85,090 | $ | 93,784 | ||||
| MARKFORGED HOLDING CORPORATION | |||||||||||||||||
| RECONCILIATION OF GAAP TO NON-GAAP MEASURES | |||||||||||||||||
| (In thousands) | |||||||||||||||||
| | Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||
| | 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Net loss | | $ | (11,854 | ) | $ | (14,198 | ) | $ | (85,566 | ) | $ | (103,567 | ) | ||||
| Stock compensation expense | | 2,127 | 3,829 | 11,975 | 13,987 | ||||||||||||
| Change in fair value of derivative liabilities | — | 646 | (189 | ) | 426 | ||||||||||||
| Change in fair value of contingent earnout liability | (2,616 | ) | (3,545 | ) | 3,658 | (1,036 | ) | ||||||||||
| Amortization | 370 | 244 | 1,508 | 1,024 | |||||||||||||
| Goodwill impairment | — | — | — | 29,467 | |||||||||||||
| Litigation judgment | — | — | 17,723 | — | |||||||||||||
| Non-recurring costs1 | 3,025 | 1,412 | 10,364 | 8,451 | |||||||||||||
| Non-GAAP net loss | | $ | (8,948 | ) | $ | (11,612 | ) | $ | (40,527 | ) | $ | (51,248 | ) | ||||
| 1 Non-recurring costs incurred during the year ended December 31, 2024 primarily relate to litigation expenses, transaction costs, and one-time restructuring costs. Non-recurring costs incurred during the year ended December 31, 2023 primarily relate to litigation expenses, long-lived asset impairment, and one-time restructuring costs. | |||||||||||||||||
| | Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||
| Non-GAAP Cost of Revenue | | 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Cost of revenue | | $ | 12,355 | $ | 12,479 | $ | 44,020 | $ | 49,370 | ||||||||
| Stock compensation expense | | 25 | 57 | 137 | 259 | ||||||||||||
| Amortization | 350 | 217 | 1,415 | 877 | |||||||||||||
| Non-GAAP Cost of Revenue | 11,980 | 12,205 | 42,468 | 48,234 | |||||||||||||
| | Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||
| Non-GAAP Gross Profit | | 2024 | 2023 | 2024 | 2023 | |||||||||||
| Gross profit | | $ | 10,016 | $ | 11,691 | $ | 41,070 | $ | 44,414 | |||||||
| Stock compensation expense | | 25 | 57 | 137 | 259 | |||||||||||
| Amortization | 350 | 217 | 1,415 | 877 | ||||||||||||
| Non-GAAP gross profit | 10,391 | 11,965 | 42,622 | 45,550 | ||||||||||||
| Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||
| Non-GAAP Sales and Marketing Expenses | | 2024 | 2023 | 2024 | 2023 | |||||||||||
| Sales and marketing expenses | | $ | 7,158 | $ | 9,394 | $ | 31,672 | $ | 37,830 | |||||||
| Stock compensation expense | | 267 | 429 | 1,418 | 1,851 | |||||||||||
| Amortization | 20 | 27 | 93 | 147 | ||||||||||||
| Change in fair value of derivative liabilities | — | 898 | — | 898 | ||||||||||||
| Non-GAAP sales and marketing expenses | $ | 6,871 | $ | 8,040 | $ | 30,161 | $ | 34,934 | ||||||||
| | Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||
| Non-GAAP Research and Development Expenses | | 2024 | 2023 | 2024 | 2023 | |||||||||||
| Research and development expenses | | $ | 5,599 | $ | 10,347 | $ | 32,444 | $ | 40,737 | |||||||
| Stock compensation expense | | 303 | 1,125 | 3,216 | 4,649 | |||||||||||
| Non-GAAP research and development expenses | $ | 5,296 | $ | 9,222 | $ | 29,228 | $ | 36,088 | ||||||||
| | Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||
| Non-GAAP General and Administrative Expenses | | 2024 | 2023 | 2024 | 2023 | |||||||||||
| General and administrative expenses | | $ | 12,249 | $ | 11,311 | $ | 45,910 | $ | 47,761 | |||||||
| Stock compensation expense | | 1,535 | 2,218 | 7,204 | 7,228 | |||||||||||
| Non-recurring costs1 | 3,025 | 1,412 | 10,364 | 8,451 | ||||||||||||
| Non-GAAP general and administrative expenses | $ | 7,689 | $ | 7,681 | $ | 28,342 | $ | 32,082 | ||||||||
| | Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||
| Non-GAAP Operating Loss | | 2024 | 2023 | 2024 | 2023 | |||||||||||
| Operating loss | | $ | (14,990 | ) | $ | (19,361 | ) | $ | (86,679 | ) | $ | (111,381 | ) | |||
| Stock compensation expense | | 2,130 | 3,829 | 11,975 | 13,987 | |||||||||||
| Amortization | 370 | 244 | 1,508 | 1,024 | ||||||||||||
| Goodwill impairment | — | — | — | 29,467 | ||||||||||||
| Change in fair value of derivative liabilities | — | 898 | — | 898 | ||||||||||||
| Litigation judgment | — | — | 17,723 | — | ||||||||||||
| Non-recurring costs1 | 3,025 | 1,412 | 10,364 | 8,451 | ||||||||||||
| Non-GAAP operating loss | $ | (9,465 | ) | $ | (12,978 | ) | $ | (45,109 | ) | $ | (57,554 | ) | ||||
1 Non-recurring costs incurred during the year ended December 31, 2024 primarily relate to litigation expenses, transaction costs, and one-time restructuring costs. Non-recurring costs incurred during the year ended December 31, 2023 primarily relate to litigation expenses, long-lived asset impairment, and one-time restructuring costs.
FAQ
What is the acquisition price per share for MKFG by Nano Dimension?
How much revenue did MKFG generate in Q4 2024?
What was MKFG's cash position at the end of 2024?
When is the Nano Dimension acquisition of MKFG expected to close?
What was MKFG's net loss in Q4 2024?
