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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 Holding Corporation (NYSE: MKFG) reported a strong fourth quarter for 2022 with revenue increasing 11% to $29.7 million, but saw a net loss of $10.7 million compared to a profit in Q4 2021. Full-year revenue also rose by 11% to $101 million, while net loss widened to $25.4 million. Gross profit decreased by 7% in Q4 and by 4% for the year. The company highlighted significant demand for its new FX20 product and successful acquisitions aiming to expand market reach. Operating costs were reduced by nearly $20 million, with guidance for 2023 revenue expected between $101 million and $110 million.
The Patent Trial & Appeal Board (PTAB) has ruled in favor of Continuous Composites, denying six petitions for Inter Partes Review (IPR) filed by Markforged (NYSE: MKFG). This decision is part of an ongoing patent infringement lawsuit initiated by Continuous Composites against Markforged in July 2021, asserting infringement of five foundational patents. The PTAB's ruling is notable as the institution rate for post-grant petitions is typically around 66%, making the likelihood of six denials statistically less than 0.1%. Continuous Composites has also added two new foundational patents recently.
Markforged (NYSE: MKFG) will announce its Q4 financial results for the period ending
Markforged focuses on enhancing manufacturing resiliency by enabling on-demand industrial production, serving over 10,000 customers across 70+ countries with its Digital Forge platform.
Summit Partners, a prominent alternative investment firm, has announced the promotion of 14 professionals across its global offices. Scott Ferguson, Paul Furer, Mark Nordstrom, Dayton Ogden, and Sophia Popova have been elevated to Partner, while Chris Bon, Ali Dowd, Mark Hexamer, Chelsea Jurman, Nick Oppedisano, and Jono Pagden have become Principals. Jonathan Gilman, Andy Lee, and Irina Müller have been promoted to Vice President. The firm manages over
Markforged (NYSE: MKFG) has launched new Simulation features for its additive manufacturing software at Formnext. These features allow manufacturers to conduct virtual testing to ensure part strength, enhancing confidence in 3D printed components. The Simulation is available as a free trial until April 2023, after which it will transition to a paid subscription model. This innovation aims to replace traditional design processes with a more efficient workflow, promoting increased adoption of 3D printing in industrial applications.
Markforged Holding Corporation (NYSE: MKFG) reported its Q3 2022 results, with revenue increasing by 5% to $25.2 million. However, gross margin decreased to 48.6%, down from 57.0% year-over-year. The company faced a net loss of $23 million compared to a profit of $21.7 million in Q3 2021. Despite challenges, demand for the FX20 printer remains strong, and the recent acquisition of Digital Metal expands market capabilities into mass production of metal parts. Markforged anticipates fourth-quarter revenue between $28 - $32 million.
Markforged (NYSE: MKFG) will announce its financial results for the third quarter ending September 30, 2022, after market close on November 9, 2022. A conference call to discuss the results is scheduled for 5:00 PM ET the same day, with participation details provided for both domestic and international attendees. Markforged aims to revolutionize manufacturing through its Digital Forge platform, combining hardware, software, and materials for efficient supply chain solutions. For investors, further details can be found on the Markforged investor relations website.
Markforged (NYSE: MKFG) announced the addition of Smooth TPU 95A to its material portfolio, enabling manufacturers to produce flexible, high-quality parts on demand. This new rubber-like material enhances the versatility of manufacturing, allowing for the creation of intricate designs essential for various industries, including aerospace and automotive. Markforged’s The Digital Forge platform addresses common challenges in 3D printing flexible materials, ensuring reliability and consistency. Smooth TPU 95A is available for Mark Two and Onyx Pro (Gen 2) printers, with broader availability on other models planned for later this year.
Markforged (NYSE: MKFG) is set to participate in several upcoming virtual conferences, including the Citi 2022 Global Technology Conference on September 8 at 3:15 p.m. ET and the Goldman Sachs Communacopia + Technology Conference on September 14 at 6:00 p.m. ET. Mark Schwartz, CFO, will engage with investors at the Citi and Lake Street's BIG6 Conference, while CEO Shai Terem will meet with investors at Goldman Sachs. This highlights Markforged's commitment to innovation in additive manufacturing through its Digital Forge platform.
Markforged (NYSE: MKFG) has acquired Digital Metal for approximately $32 million in cash, 4.1 million shares of common stock, and $1.5 million to settle intercompany balances. The acquisition enhances Markforged's ability to mass produce metal parts through Digital Metal's precise binder jetting technology. Digital Metal will operate as a subsidiary, continuing to serve various industries, including automotive and aerospace. CEO Shai Terem emphasizes the integration aims to accelerate Digital Metal's adoption and improve manufacturing capabilities.
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