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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 19% increase in revenue to $24.2 million for Q2 2022, compared to $20.4 million in Q2 2021. Gross margin decreased to 53% from 58% year-over-year. The company experienced a net profit of $4.1 million compared to a loss of $11.1 million in the prior year. Non-GAAP losses widened to $16.8 million versus $8.1 million. Cash reserves stood at $243.2 million. Markforged announced plans to acquire Digital Metal, aiming to enhance its market presence in high-throughput metal production, and adjusted its 2022 revenue guidance to $100-115 million.
Markforged (NYSE: MKFG) will report its Q2 financial results on
Markforged has entered a definitive agreement to acquire Digital Metal from Höganäs AB for approximately $32 million, 4.1 million shares of Markforged common stock, and $1.5 million in cash for intercompany balances. This acquisition is expected to enhance Markforged's capabilities in high-throughput production of metal parts, addressing manufacturing challenges for industrial customers. The deal is set to close in Q3 2022, pending customary conditions.
Markforged (NYSE: MKFG) announced its participation in several key upcoming conferences. These include the Craig-Hallum 19th Annual Institutional Investor Conference on June 1, the William Blair’s 42nd Annual Growth Stock Conference on June 7 at 3:40 p.m. EDT, and the Stifel 2022 Cross Sector Insight Conference on June 9 at 1:50 p.m. EDT. Markforged is redefining manufacturing through its Digital Forge platform, which integrates metal and carbon fiber additive manufacturing technologies. The firm is based in Watertown, Mass., and employs over 400 people worldwide.
Markforged (NYSE: MKFG) has partnered with 3YOURMIND to integrate its Eiger software with 3YOURMIND's manufacturing execution software. This collaboration aims to facilitate Industry 4.0 adoption by providing an end-to-end additive manufacturing workflow. Through API integration, manufacturers can automate and streamline their production processes, enhancing connectivity and data handling. The integration will also improve real-time monitoring of multi-vendor 3D printers, increasing efficiency and productivity in manufacturing environments.
Markforged Holding Corporation (NYSE: MKFG) reported Q1 2022 results, highlighting an 8.6% revenue increase to $21.9 million, up from $20.1 million in Q1 2021. The gross margin fell to 53.1% from 60.5% year-over-year. The company achieved a net profit of $4.2 million compared to a loss of $10 million in the prior year. However, non-GAAP metrics showed a loss of $15.5 million. Markforged reaffirms 2022 revenue guidance of $114-123 million and aims for non-GAAP gross margins of 55%-57%. The acquisition of Teton Simulation Software is noted as a significant move to enhance product offerings.
Markforged (NYSE: MKFG) will announce its financial results for Q1 2022 on May 12, 2022, after market close. The company will hold a conference call at 5:00 p.m. ET that day to discuss the results. Investors can access the earnings release and related materials on the company's investor website. A replay of the call will be available until May 26, 2022. Markforged specializes in additive manufacturing, providing solutions that combine metal and carbon fiber technologies to aid in manufacturing and supply chain efficiency.
Markforged (NYSE: MKFG) has announced the acquisition of Teton Simulation Software, enhancing its Digital Forge platform. Teton's SmartSlice™ technology streamlines the validation and optimization of 3D printed parts, enabling manufacturers to produce high-quality, end-use components efficiently. This integration offers a subscription-based solution that complements Markforged's current offerings, providing customers with faster manufacturing processes. The acquisition aims to strengthen Markforged's leadership in distributed manufacturing and extend its software capabilities.
Markforged Holding Corporation (NYSE: MKFG) reported significant growth in its fourth quarter and full fiscal year 2021, exceeding targets. Revenue rose 27% to $91.2 million, while gross profit increased by 26% to $52.9 million. However, the company faced a net loss from operations of $61.0 million, widening from $17.7 million the previous year. The fourth quarter saw a 9% revenue increase to $26.6 million, but gross profit fell 4% to $15.0 million. Looking ahead, the company expects 2022 revenue between $114.0 - $123.0 million, with a continued focus on Gross Margin and operational efficiency.
Markforged (NYSE: MKFG) has introduced Precise PLA, a new material for cost-effective product design and rapid prototyping. This addition allows customers to validate designs before moving to production with more robust materials. The Digital Forge platform now supports all stages of product design, enhancing versatility with 28 unique materials, including affordable options like Precise PLA for early project phases. Available from March 15, the new material will be compatible with several Markforged printers, expanding its addressable market in sectors like education and design services.
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