Markforged Holding Corporation - MKFG STOCK NEWS

Markforged (NYSE: MKFG) announced a favorable ruling from the United States District Court for the District of Delaware, which dismissed all four patent infringement claims made by Continuous Composites. This ruling validates Markforged's position that these claims were without merit. Only one remaining patent, recently added in February 2022, still stands, and Markforged intends to vigorously defend against it. CEO Shai Terem expressed satisfaction with the ruling, emphasizing that potential exposure is limited to the last patent. Markforged continues to support over 10,000 manufacturers globally, reinforcing its commitment to manufacturing resiliency.

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 December 31st, 2022, after the market closes on March 6, 2023. A conference call will be held on the same day at 5:00 PM ET to discuss these results. Investors can access the earnings press release and related materials via the company's website. A replay of the call will be available until March 20, 2023.

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 $35 billion in capital, investing across various growth sectors globally.

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.