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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 (NYSE: MKFG) will release its financial results for the fourth quarter and full year ended
Markforged (NYSE: MKFG) has announced a realignment of its technology teams to expedite its product roadmap for distributed manufacturing. Co-Founder David Benhaim steps down as Chief Technology Officer but will continue in an advisory role until July 8, 2022. John Howard, now leading the engineering team, brings over 30 years of experience from Amazon and Apple, aiming to integrate hardware, software, and materials for enhanced collaboration. CEO Shai Terem expressed confidence in Markforged's growth strategy, emphasizing the company's strong engineering capabilities.
Markforged has appointed Andrew Hally as its new Chief Marketing Officer, effective January 4, 2022. Hally, with 25 years of technology marketing experience, will oversee all marketing operations to align with the company's growth strategies for The Digital Forge. His previous roles include CMO positions at Bynder and Allego, where he excelled in scaling marketing efforts. Hally aims to enhance brand visibility and establish Markforged as a thought leader in distributed manufacturing. This strategic hiring is expected to significantly impact the company’s marketing initiatives.
Markforged Holding Corp. (NYSE: MKFG) will participate in the 24th Annual Needham Growth Conference on January 13, 2022. The virtual presentation is set for 5:00 p.m. ET and can be accessed here or via the company's website under 'Investor Relations'. Additionally, CEO Shai Terem and CFO Mark Schwartz will be available for one-on-one investor meetings on January 14.
Markforged Holding Corporation (NYSE: MKFG) announced the resignation of founder Greg Mark as both a member of the Board of Directors and employee, effective December 29, 2021. CEO Shai Terem expressed gratitude for Mark's significant contributions since the company's inception in 2013, highlighting the innovative technology developed. Markforged continues to focus on transforming manufacturing through its Digital Forge, supplying solutions worldwide. The company emphasizes ongoing demand for its products while acknowledging potential risks in future projections.
Markforged (NYSE: MKFG) is relocating its global headquarters to Waltham, Massachusetts, uniting employees from two facilities in Watertown. The new 120,000 square foot facility will nearly double its footprint and accommodate over 500 employees, fostering collaboration and innovation. Additionally, the company plans to expand its Billerica filament manufacturing facility by adding 22,000 square feet to meet increasing product demand. The relocation is expected to be completed by fall 2022, marking a strategic step towards growth.
Markforged Holding Corporation (NYSE: MKFG) achieved significant growth in Q3 2021, with revenues up 53.8% to $24.0 million compared to Q3 2020. Gross profit also increased by 47.2%, reaching $13.7 million. The company reported a net profit of $23.9 million, contrasting with a net loss of $3.7 million in the prior year. Adjusted EBITDA showed a loss of $11.6 million, worsening from a loss of $2.6 million year-over-year. The launch of new software and aerospace-ready materials aims to expand their market reach. CEO Shai Terem highlighted robust demand for their Digital Forge solution amidst global supply chain challenges.
Markforged has launched the FX20 printer, enhancing its additive manufacturing capabilities. This new printer uses ULTEM™ 9085 filament along with proprietary Continuous Fiber Reinforcement technology, targeting industries such as aerospace, defense, automotive, and oil & gas. The FX20 delivers rapid production of larger, stronger, heat-resistant parts, with a maximum build size of 525 mm x 400 mm x 400 mm and speeds up to eight times faster than previous models. Shipping is expected in early 2022.
Markforged (NYSE: MKFG) will announce its financial results for Q3 2021 on November 10, 2021, after market close. A conference call is scheduled for 5:00 p.m. ET to discuss the results. Interested participants can access the earnings release and related materials on the company's investor website. The replay will be available until November 24, 2021 via the website and by telephone.
Markforged is known for its innovative additive manufacturing solutions, including metal and carbon fiber printers.
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