Desktop Metal Inc (NYSE:DM) reported a fourth-quarter fiscal 2023 revenue decline of 13.7% year-over-year to $52.30 million, beating the consensus of $50.83 million.
Desktop Metal's net loss contracted to $(174.53) million, including $110.5 million of goodwill impairment, from $(312.35) million a year ago. Adjusted net loss narrowed to $(10.9) million from $(24.01) million prior year.
The company's adjusted gross margin was 34.05%, up from 24.3% YoY, with a 21.1% increase to $17.81 million.
Adjusted EBITDA loss contracted to $(9.19) million for the quarter, from $(21.11) million a year ago.
Adjusted EPS loss of $(0.03) topped the consensus of $(0.05) loss.
Desktop Metal's net cash used in operating activities for the fiscal year was $(114.99) million, compared to $(181.53) million last year.
Desktop Metal held cash, cash equivalents, and short-term investments of $84.7 million at the end of the quarter.
Ric Fulop, founder and CEO of Desktop Metal, stated that DM continues to see strong demand for production binder jet systems that produce metal, sand, and ceramic parts, and there is increasing evidence of the value of Additive Manufacturing 2.0 systems.
"While we didn't make our internal target of A-EBITDA positive by the end of the year, as some customer projects rolled into 2024, we are now very, very close to that goal," Fulop continued.
"We now enter the year with a lower cost structure that makes us resilient for the long term. The hard work will continue as we drive toward profitability, a goal that is clearly within sight despite the tough market conditions."
2024 Outlook: Desktop Metal expects 2024 revenue of $175 million-$215 million versus $194 million consensus; sees adjusted EBITDA of $(30) million – $(10) million.
Price Action: DM shares are trading higher by 19.6% at $0.7369 on Friday.
Photo via Shutterstock
Desktop Metal Inc(紐約證券交易所代碼:DM)報告稱,2023財年第四季度收入同比下降13.7%,至5,230萬美元,超過市場預期的5,083萬美元。
Desktop Metal的淨虧損從去年同期的3.1235億美元收縮至1.7453億美元,其中包括1.105億美元的商譽減值。調整後的淨虧損從去年(2401)萬美元縮小至1,090萬美元。
該公司調整後的毛利率爲34.05%,高於同比24.3%,增長21.1%,至1781萬美元。
調整後的息稅折舊攤銷前利潤虧損從去年同期的(2111萬美元)收縮至該季度的919萬美元。
調整後的每股虧損爲0.03美元,超過了市場普遍預期的0.05美元(0.05美元)虧損。
Desktop Metal本財年用於經營活動的淨現金爲1.1499億美元,而去年爲1.8153億美元。
截至本季度末,Desktop Metal持有的現金、現金等價物和短期投資爲8,470萬美元。
Desktop Metal創始人兼首席執行官裏克·富洛普表示,DM繼續看到對生產金屬、沙子和陶瓷零件的生產粘合劑噴射系統的強勁需求,而且越來越多的證據表明增材製造2.0系統的價值。
富洛普繼續說:“儘管到年底,我們沒有將A-EBITDA的內部目標定爲正數,但隨着一些客戶項目延續到2024年,我們現在已經非常非常接近該目標了。”
“我們現在以較低的成本結構進入新的一年,這使我們能夠長期保持彈性。在我們努力實現盈利的過程中,艱苦的工作將繼續下去,儘管市場條件艱難,但這一目標顯然在眼前。”
2024年展望:Desktop Metal預計2024年的收入爲1.75億美元至2.15億美元,而市場預期爲1.94億美元;調整後的息稅折舊攤銷前利潤爲3000萬美元至1000萬美元。
價格走勢:週五,德國股價上漲19.6%,至0.7369美元。
照片來自 Shutterstock