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Earnings Call Summary | Desktop Metal(DM.US) Q4 2023 Earnings Conference

Futu News ·  Mar 18 21:07  · Conference Call

The following is a summary of the Desktop Metal, Inc. (DM) Q4 2023 Earnings Call Transcript:

Financial Performance:

  • Desktop Metal reported total revenue of $190 million for 2023, a decrease from $209 million in 2022. The company's recurring revenue, however, saw a significant increase of 29% from $65 million to $65 million in 2023.

  • Adjusted EBITDA losses decreased from negative $118 million in 2022 to negative $69 million in 2023, with expectations of turning positive in the second half of 2024.

Business Progress:

  • The company managed to reduce operational costs by about 40% through restructuring, which aligns the business for profitability. Major growth sectors predicted include defense, aerospace, and healthcare.

  • Desktop Metal continues to make advances in additive manufacturing technology, now holding significant market share in binder jetting and identifying new market opportunities such as humanoid robots driven by AI.

  • Plan to expand to markets such as South America, Southeast Asia, India, and the Middle East.

  • For 2024, projected revenue range is between $175 and $215 million, with anticipation for positive adjusted EBITDA in the second half of 2024.

More details: Desktop Metal IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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