Desktop Metal (DM) Reports Q4 Revenues Miss

Desktop Metal (NYSE: DM) reported Q4 revenue for the quarter came in at $8.4 million versus the consensus estimate of $9.31 million.

Fourth Quarter Financial Highlights:

• Fourth quarter revenue of $8.4 million, up from $2.5 million in the third quarter of 2020
• Fourth quarter net loss of $25.4 million

Fourth Quarter 2020 Business Highlights:

• Completed business combination between Trine Acquisition Corp. and Desktop Metal, Inc. to become the world’s first publicly traded, pure-play AM 2.0 company
• Received multi-million dollar award from the United States Department of Defense for the development of a high-volume manufacturing process to mass produce Cobalt-free hardmetal parts
• Launched Live Sinter, a new process simulation software for powder metallurgy-based additive manufacturing
• Commenced global shipments of Shop System, which became the #1 metal binder jetting system by unit share within its first quarter of salesi
• Commenced global shipments of the Production System P-1

“The fourth quarter of 2020 was transformative for our Company as we became the only publicly traded pure-play AM 2.0 company,” said Ric Fulop, CEO and co-founder of Desktop Metal. “We achieved key milestones in our path to driving adoption of additive manufacturing with the global shipments of our Shop System and Production System P-1 solutions. Our acquisition of EnvisionTEC in February strengthens our market position by adding a compelling lineup of production-focused photopolymer printers and over 190 qualified materials to our portfolio. We are excited to continue building on our strong momentum by capitalizing on both high levels of customer interest and inorganic opportunities in the space as we enter this next chapter of our growth story.”

For earnings history and earnings-related data on Desktop Metal (DM) click here.

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