Desktop Metal (DM) Misses Q1 EPS by 1c, Revenues Misses; Reaffirms FY Revenue
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Desktop Metal Announces First Quarter 2023 Financial Results
May 10, 2023 4:05 PM EDTRevenue of $41.3 million, with a growing number of repeat purchases from customers with multi-machine fleets of our Additive Manufacturing 2.0 systems Cost reduction plan delivered significant year-over-year improvements to adjusted EBITDA and operating cash flow in first quarter 2023 Combined $100 million in annualized savings from cost reduction plans remain on-track in order to reduce expense structure, expand margins, and drive to profitability Reaffirming full year 2023 guidance of revenue between $210 to $260 million, and adjusted EBITDA between $(50) to $(25) million, with expectation to achieve adjusted EBITDA breakeven before year end 2023
BOSTON--(BUSINESS... More
