Markforged Announces Second Quarter 2023 Results
- Revenue increased by 5% to $25.4 million
- Cash, cash equivalents, and short-term investments were $136.0 million
- The company expects to accelerate growth in 2024 with new platforms and capabilities
- Net loss was $19.0 million
- Gross margin was 47%
Financial Highlights
-
Revenue increased by
5% , to$25.4 million $24.2 million -
Gross profit was
$12.0 million $12.9 million -
Non-GAAP gross profit was
$12.3 million $13.0 million -
Gross margin was
47% in the second quarter of 2023 compared to53% in the second quarter of 2022. -
Non-GAAP gross margin was
48% in the second quarter of 2023 compared to54% in the second quarter of 2022. -
Net loss was
$19.0 million $4.1 million -
Non-GAAP net loss was a loss of
$12.5 million $16.8 million -
Cash, cash equivalents, and short-term investments were
$136.0 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 under the heading “Non-GAAP Financial Measures.”
“We continue to execute on our long term strategy to grow through innovation and bring industrial production to the point of need. Demand for our solution is growing globally as our customers identify more and more opportunities to cut costs, save time, and reduce physical inventories while building efficiencies to their own production lines,” said Shai Terem, President and CEO of Markforged. “With our upcoming new platforms and capabilities, we are confident in our ability to accelerate our growth in 2024. We also continue to prudently manage our costs, keeping us on a firm path to profitability.”
Business Highlights
- Demand Grows Globally. Demand for The Digital Forge continued to grow globally in Q2, even in the face of the high cost of capital environment which is restricting capital expense investments. As such, while conversions to close deals are still challenging in the short term, Markforged is confident in its longer term growth projection, especially with upcoming product releases.
- Significant Tier 1 Automotive Win. In Q2, Markforged completed a very important and strategic transaction with a global automotive leader to drive flexibility and cost savings by reducing their reliance on physical inventory. The sale included a fleet of both advanced composite printers and metal systems as part of a multi-year strategic initiative. This win exemplifies how Markforged’s platform of hardware, materials and software, and growing distributed network of printers, are uniquely positioned to proactively capitalize on the growing market opportunity for point of need industrial production.
-
Building Operational Efficiencies. Markforged remains focused on building operational efficiencies and driving margin expansion in pursuit of profitable, sustainable growth. Non-GAAP gross margins are tracking toward the upper end of 2023 guidance while Markforged remains on track to achieve full production scale for the FX20. The company continues to focus on prudently managing operating expenses, which were down
11% year-over-year on a non-GAAP basis and on finding additional working capital efficiencies. These efforts helped lower Markforged’s year-to-date cash burn from operations by26% year-over-year. - More Innovation To Accelerate Growth. For the last two years, Markforged has been hard at work on multiple new product innovations that accelerate production at the point of need and increase its addressable market. Markforged has plans for multiple new and exciting product introductions in the second half of 2023 which further enhance their current platform and should contribute to accelerating growth in 2024.
Guidance
Markforged is maintaining its revenue guidance to be within the range of
Considering our strong execution in the first half of the year, Markforged now believes that there is more opportunity for non-GAAP gross margins to be within the mid to upper range of our guidance of
Markforged plans to continue its disciplined approach to operating expenses and as such, expects operating expenses for fiscal year 2023 to decline as a percentage of revenue as well as in absolute terms year-over-year, resulting in a lower expected operating loss in the range of
Conference Call and Webcast Information
The Company will host a webcast and conference call at 5:00 p.m. ET today, Thursday, August 10, to discuss the results.
Participants may access the earnings press release, related materials and the audio webcast by visiting the investors section of the Company's website at https://investors.markforged.com/.
To participate in the call, please dial 1-877-407-9039 or 1-201-689-8470 ten minutes before the scheduled start.
For those unable to listen to the live conference call, a replay will be available on the Company's website and telephonically until Thursday, August 24, 2023, 11:59 PM ET by dialing 1-844-512-2921 or 1-412-317-6671, passcode 13737742.
About Markforged
Markforged (NYSE:MKFG) is enabling more resilient and flexible supply chains 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
Non-GAAP Financial Measures
In addition to our financial results determined in accordance with
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.
Investors should note that beginning with the second quarter of 2022, we have modified the presentation of “non-recurring costs” included in non-GAAP gross margin, non-GAAP operating profit (loss), non-GAAP net profit (loss) and non-GAAP earnings per share metrics to include certain non-recurring litigation costs. Beginning with the fourth quarter of 2022, we modified the presentation to remove the impact of the amortization of our intangible assets. We use these metrics to provide an understanding of the results of our core business performance and believe these litigation and amortization costs are not indicative of the performance of our core business’ operations. This change increased “non-recurring costs'' by
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.
- Non-GAAP earnings per share 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, divided by diluted weighted average shares outstanding for the period.
Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that are based on beliefs and assumptions and on information currently available. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “strategy,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “opportunity” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although Markforged believes that it has a reasonable basis for each forward-looking statement contained in this press release, Markforged cautions you that these statements are based on a combination of facts and factors currently known by it and its projections of the future, about which it cannot be certain. Forward-looking statements in this press release include, but are not limited to, future growth rate, revenue, gross profit margin and earnings guidance; the impact of infrastructure investments; timing for achieving profitability; our ability to fulfill orders for our products in a timely fashion in the future; expected growth of the size of and opportunity to increase our addressable market; the timing of launches and the rate and extent of adoption of our products, including, but not limited to, our most recently introduced products; market trends in the manufacturing industry; the effects of macroeconomic factors; and the benefits to consumers, functionality and applications of Markforged’s products. Markforged cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward looking statements are subject to a number of risks and uncertainties, including, among others, general economic, political and business conditions; the ability of Markforged to maintain its listing on the New York Stock Exchange; the effect of COVID-19 on Markforged’s business and financial results; the outcome of any legal proceedings against Markforged; and those factors discussed under the header “Risk Factors” in Markforged’s most recent periodic and other filings with the SEC. Furthermore, if the forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that Markforged will achieve its objectives and plans in any specified time frame, or at all. The forward-looking statements in this press release represent Markforged’s views as of the date of this press release. Markforged anticipates that subsequent events and developments will cause its views to change. However, while Markforged may elect to update these forward-looking statements at some point in the future, Markforged has no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing Markforged’s views as of any date subsequent to the date of this press release.
| MARKFORGED HOLDING CORPORATION | ||||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||
| As of June 30, 2023 and December 31, 2022 | ||||||||
| (In thousands, except share data and par value amounts) (Unaudited) | ||||||||
June 30, 2023 |
December 31, 2022 |
|||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ |
85,658 |
|
$ |
124,242 |
|
||
| Short-term investments |
|
50,390 |
|
|
43,690 |
|
||
| Accounts receivable, net of allowance for expected credit losses ( |
|
27,096 |
|
|
29,294 |
|
||
| Inventory |
|
29,606 |
|
|
26,409 |
|
||
| Prepaid expenses |
|
981 |
|
|
2,847 |
|
||
| Other current assets |
|
3,290 |
|
|
3,334 |
|
||
| Total current assets |
|
197,021 |
|
|
229,816 |
|
||
| Property and equipment, net |
|
18,366 |
|
|
18,298 |
|
||
| Goodwill |
|
30,238 |
|
|
31,116 |
|
||
| Intangible assets |
|
16,632 |
|
|
17,626 |
|
||
| Right-of-use assets |
|
39,270 |
|
|
45,955 |
|
||
| Other assets |
|
3,340 |
|
|
3,130 |
|
||
| Total assets | $ |
304,867 |
|
$ |
345,941 |
|
||
| Liabilities and Stockholders’ Equity | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ |
11,641 |
|
$ |
14,425 |
|
||
| Accrued expenses |
|
7,920 |
|
|
9,663 |
|
||
| Deferred revenue |
|
8,757 |
|
|
8,854 |
|
||
| Operating lease liabilities |
|
7,815 |
|
|
8,022 |
|
||
| Other current liabilities |
|
53 |
|
|
— |
|
||
| Total current liabilities |
|
36,186 |
|
|
40,964 |
|
||
| Long-term deferred revenue |
|
5,764 |
|
|
5,358 |
|
||
| Contingent earnout liability |
|
2,422 |
|
|
2,415 |
|
||
| Long-term operating lease liabilities |
|
38,155 |
|
|
40,608 |
|
||
| Other liabilities |
|
3,283 |
|
|
4,042 |
|
||
| Total liabilities |
|
85,810 |
|
|
93,387 |
|
||
| Commitments and contingencies | ||||||||
| Stockholders’ equity | ||||||||
| Common stock, |
|
19 |
|
|
19 |
|
||
| Additional paid-in capital |
|
358,645 |
|
|
352,564 |
|
||
| Accumulated deficit |
|
(139,104 |
) |
|
(101,097 |
) |
||
| Accumulated other comprehensive income |
|
(503 |
) |
|
1,068 |
|
||
| Total stockholders’ equity |
|
219,057 |
|
|
252,554 |
|
||
| Total liabilities and stockholders’ equity | $ |
304,867 |
|
$ |
345,941 |
|
||
| MARKFORGED HOLDING CORPORATION | |||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||
| For the Three and Six Months Ended June 30, 2023 and 2022 | |||||||||||||||
| (In thousands, except share data and per share data) (Unaudited) | |||||||||||||||
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||||||
2023 |
|
2022 |
|
2023 |
|
2022 |
|||||||||
| Revenue | $ |
25,449 |
|
$ |
24,227 |
|
$ |
49,539 |
|
$ |
46,086 |
|
|||
| Cost of revenue |
|
13,476 |
|
|
11,302 |
|
|
25,984 |
|
|
21,555 |
|
|||
| Gross profit |
|
11,973 |
|
|
12,925 |
|
|
23,555 |
|
|
24,531 |
|
|||
| Operating expenses | |||||||||||||||
| Sales and marketing |
|
9,666 |
|
|
12,873 |
|
|
20,242 |
|
|
23,321 |
|
|||
| Research and development |
|
10,286 |
|
|
10,387 |
|
|
20,666 |
|
|
20,954 |
|
|||
| General and administrative |
|
12,120 |
|
|
13,478 |
|
|
24,248 |
|
|
25,221 |
|
|||
| Total operating expenses |
|
32,072 |
|
|
36,738 |
|
|
65,156 |
|
|
69,496 |
|
|||
| Loss from operations |
|
(20,099 |
) |
|
(23,813 |
) |
|
(41,601 |
) |
|
(44,965 |
) |
|||
| Change in fair value of warrant liabilities |
|
125 |
|
|
976 |
|
|
314 |
|
|
1,669 |
|
|||
| Change in fair value of contingent earnout liability |
|
(817 |
) |
|
26,742 |
|
|
(7 |
) |
|
51,638 |
|
|||
| Other expense |
|
(16 |
) |
|
(171 |
) |
|
(222 |
) |
|
(390 |
) |
|||
| Interest expense |
|
(116 |
) |
|
(9 |
) |
|
(116 |
) |
|
(9 |
) |
|||
| Interest income |
|
1,577 |
|
|
354 |
|
|
3,268 |
|
|
374 |
|
|||
| (Loss) profit before income taxes |
|
(19,346 |
) |
|
4,079 |
|
|
(38,364 |
) |
|
8,317 |
|
|||
| Income tax expense (benefit) |
|
(358 |
) |
|
4 |
|
|
(357 |
) |
|
3 |
|
|||
| Net (loss) profit | $ |
(18,988 |
) |
$ |
4,075 |
|
$ |
(38,007 |
) |
$ |
8,314 |
|
|||
| Weighted average shares outstanding - basic |
|
196,372,157 |
|
|
188,102,342 |
|
|
195,873,471 |
|
|
187,247,566 |
|
|||
| Weighted average shares outstanding - diluted |
|
196,372,157 |
|
|
188,876,763 |
|
|
195,873,471 |
|
|
188,329,331 |
|
|||
| Net profit (loss) per share - basic | $ |
(0.10 |
) |
$ |
0.02 |
|
$ |
(0.19 |
) |
$ |
0.04 |
|
|||
| Net profit (loss) per share - diluted |
|
(0.10 |
) |
|
0.02 |
|
|
(0.19 |
) |
|
0.04 |
|
|||
| MARKFORGED HOLDING CORPORATION | |||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF | |||||||||||||||
| COMPREHENSIVE INCOME (LOSS) | |||||||||||||||
| For the Three and Six Months Ended June 30, 2023 and 2022 | |||||||||||||||
| (In thousands) (Unaudited) | |||||||||||||||
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||||||
2023 |
|
2022 |
|
2023 |
|
2022 |
|||||||||
| Net (loss) profit | $ |
(18,988 |
) |
$ |
4,075 |
|
$ |
(38,007 |
) |
$ |
8,314 |
|
|||
| Other comprehensive income, net of taxes: | |||||||||||||||
| Unrealized gain (loss) on available-for-sale marketable securities, net |
|
25 |
|
|
— |
|
|
(25 |
) |
|
— |
|
|||
| Foreign currency translation adjustment |
|
(1,704 |
) |
|
— |
|
|
(1,546 |
) |
|
— |
|
|||
| Total comprehensive (loss) income | $ |
(20,667 |
) |
$ |
4,075 |
|
$ |
(39,578 |
) |
$ |
8,314 |
|
|||
| MARKFORGED HOLDING CORPORATION | ||||||||||||||||
| DISAGGREGATED REVENUE BY NATURE OF PRODUCTS AND SERVICES | ||||||||||||||||
| (In thousands) (Unaudited) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| (in thousands) | 2023 |
2022 |
2023 |
2022 |
||||||||||||
| Hardware | $ |
16,506 |
|
$ |
16,011 |
|
$ |
31,701 |
|
$ |
30,527 |
|
||||
| Consumables |
|
6,482 |
|
|
5,889 |
|
|
12,937 |
|
|
11,345 |
|
||||
| Services |
|
2,461 |
|
|
2,327 |
|
|
4,901 |
|
|
4,214 |
|
||||
| Total Revenue | $ |
25,449 |
|
$ |
24,227 |
|
$ |
49,539 |
|
$ |
46,086 |
|
||||
| MARKFORGED HOLDING CORPORATION | ||||||||||||||||
| DISAGGREGATED REVENUE BY GEOGRAPHIC LOCATION | ||||||||||||||||
| (In thousands) (Unaudited) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| (in thousands) | 2023 |
2022 |
2023 |
2022 |
||||||||||||
$ |
11,982 |
|
$ |
11,462 |
|
$ |
22,440 |
|
$ |
21,559 |
|
|||||
| EMEA | $ |
7,618 |
|
$ |
7,545 |
|
$ |
16,110 |
|
$ |
14,265 |
|
||||
| APAC | $ |
5,849 |
|
$ |
5,220 |
|
$ |
10,989 |
|
$ |
10,262 |
|
||||
| Total Revenue | $ |
25,449 |
|
$ |
24,227 |
|
$ |
49,539 |
|
$ |
46,086 |
|
||||
| MARKFORGED HOLDING CORPORATION | ||||||||||||||||
| RECONCILIATION OF GAAP TO NON-GAAP MEASURES | ||||||||||||||||
| For the Three and Six Months Ended June 30, 2023 and 2022 | ||||||||||||||||
| (In thousands) (Unaudited) | ||||||||||||||||
| | Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||||||
| | 2023 |
|
2022 |
|
2023 |
|
2022 |
|||||||||
| Net (loss) profit | | $ |
(18,988 |
) |
$ |
4,075 |
|
| $ |
(38,007 |
) |
$ |
8,314 |
|
||
| Stock compensation expense | |
|
1,690 |
|
|
4,912 |
|
|
|
6,046 |
|
|
10,334 |
|
||
| Change in fair value of warrant liabilities |
|
(125 |
) |
|
(976 |
) |
|
(314 |
) |
|
(1,669 |
) |
||||
| Change in fair value of contingent earnout liability |
|
817 |
|
|
(26,742 |
) |
|
7 |
|
|
(51,638 |
) |
||||
| Amortization |
|
254 |
|
|
5 |
|
|
531 |
|
|
5 |
|
||||
| Non-recurring costs1 |
|
3,812 |
|
|
1,937 |
|
|
5,893 |
|
|
2,984 |
|
||||
| Non-GAAP net loss | | $ |
(12,540 |
) |
$ |
(16,789 |
) |
| $ |
(25,844 |
) |
$ |
(31,670 |
) |
||
| 1Non-recurring costs primarily relate to long-lived asset impairment, litigation expenses, and transaction costs. | ||||||||||||||||
| | Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||||||
| Non-GAAP Cost of Revenue | | 2023 |
|
2022 |
|
2023 |
|
2022 |
||||||||
| Cost of revenue | | $ |
13,476 |
|
$ |
11,302 |
|
| $ |
25,984 |
|
$ |
21,555 |
|
||
| Stock compensation expense | |
|
89 |
|
|
102 |
|
|
|
162 |
|
|
217 |
|
||
| Amortization |
|
218 |
|
|
5 |
|
|
446 |
|
|
5 |
|
||||
| Non-GAAP Cost of Revenue |
|
13,169 |
|
|
11,195 |
|
|
25,376 |
|
|
21,333 |
|
||||
| | Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||||||
| Non-GAAP Gross Profit | | 2023 |
|
2022 |
|
2023 |
|
2022 |
||||||||
| Gross profit | | $ |
11,973 |
|
$ |
12,925 |
|
| $ |
23,555 |
|
$ |
24,531 |
|
||
| Stock compensation expense | |
|
89 |
|
|
102 |
|
|
|
162 |
|
|
217 |
|
||
| Amortization |
|
218 |
|
|
5 |
|
|
446 |
|
|
5 |
|
||||
| Non-GAAP gross profit |
|
12,280 |
|
|
13,032 |
|
|
24,163 |
|
|
24,753 |
|
||||
| | Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||||||
| Non-GAAP Sales and Marketing Expenses | | 2023 |
|
2022 |
|
2023 |
|
2022 |
||||||||
| Sales and marketing expenses | | $ |
9,666 |
|
$ |
12,873 |
|
| $ |
20,242 |
|
$ |
23,321 |
|
||
| Stock compensation expense | |
|
499 |
|
|
775 |
|
|
|
975 |
|
|
1,624 |
|
||
| Amortization |
|
36 |
|
|
— |
|
|
85 |
|
|
— |
|
||||
| Non-GAAP sales and marketing expenses |
|
9,131 |
|
|
12,098 |
|
|
19,182 |
|
|
21,697 |
|
||||
| | Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||||||
| Non-GAAP Research and Development Expenses | | 2023 |
|
2022 |
|
2023 |
|
2022 |
||||||||
| Research and development expenses | | $ |
10,286 |
|
$ |
10,387 |
|
| $ |
20,666 |
|
$ |
20,954 |
|
||
| Stock compensation expense | |
|
1,160 |
|
|
1,572 |
|
|
|
2,329 |
|
|
2,991 |
|
||
| Non-GAAP research and development expenses |
|
9,126 |
|
|
8,815 |
|
|
18,337 |
|
|
17,963 |
|
||||
| | Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||||||
| Non-GAAP General and Administrative Expenses | | 2023 |
|
2022 |
|
2023 |
|
2022 |
||||||||
| General and administrative expenses | | $ |
12,120 |
|
$ |
13,478 |
|
| $ |
24,248 |
|
$ |
25,221 |
|
||
| Stock compensation expense | |
|
(58 |
) |
|
2,463 |
|
|
|
2,580 |
|
|
5,502 |
|
||
| Non-recurring costs1 |
|
3,812 |
|
|
1,937 |
|
|
5,893 |
|
|
2,984 |
|
||||
| Non-GAAP general and administrative expenses |
|
8,366 |
|
|
9,078 |
|
|
15,775 |
|
|
16,735 |
|
||||
| 1Non-recurring costs primarily relate to long-lived asset impairment, litigation expenses, and transaction costs. | ||||||||||||||||
| | Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||||||
| Non-GAAP Operating Profit (Loss) | | 2023 |
|
2022 |
|
2023 |
|
2022 |
||||||||
| Operating loss | | $ |
(20,099 |
) |
$ |
(23,813 |
) |
| $ |
(41,601 |
) |
$ |
(44,965 |
) |
||
| Stock compensation expense | |
|
1,690 |
|
|
4,912 |
|
|
|
6,046 |
|
|
10,334 |
|
||
| Amortization |
|
254 |
|
|
5 |
|
|
531 |
|
|
5 |
|
||||
| Non-recurring costs1 |
|
3,812 |
|
|
1,937 |
|
|
5,893 |
|
|
2,984 |
|
||||
| Non-GAAP operating profit (loss) |
|
(14,343 |
) |
|
(16,959 |
) |
|
(29,131 |
) |
|
(31,642 |
) |
||||
| 1Non-recurring costs primarily relate to long-lived asset impairment, litigation expenses, and transaction costs. | ||||||||||||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20230810059729/en/
Media
Sam Manning, Public Relations Manager
sam.manning@markforged.com
Investors
Austin Bohlig, Director of Investor Relations
investors@markforged.com
Source: Markforged Holding Corporation
FAQ
What was the revenue for Q2 2023?
What was the net loss for Q2 2023?
What were the cash, cash equivalents, and short-term investments as of June 30, 2023?
What are the company's plans for future growth?
