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(纽约证券交易所代码:DM)报告称,2023财年第四季度收入同比下降13.7%,至5,230万美元,超过市场预期的5,083万美元。
Desktop Metal的净亏损从去年同期的3.1235亿美元收缩至1.7453亿美元,其中包括1.105亿美元的商誉减值。调整后的净亏损从去年(2401)万美元缩小至1,090万美元。
该公司调整后的毛利率为34.05%,高于同比24.3%,增长21.1%,至1781万美元。
调整后的息税折旧摊销前利润亏损从去年同期的(2111万美元)收缩至该季度的919万美元。
调整后的每股亏损为0.03美元,超过了市场普遍预期的0.05美元(0.05美元)亏损。
Desktop Metal本财年用于经营活动的净现金为1.1499亿美元,而去年为1.8153亿美元。
截至本季度末,Desktop Metal持有的现金、现金等价物和短期投资为8,470万美元。
Desktop Metal创始人兼首席执行官里克·富洛普表示,DM继续看到对生产金属、沙子和陶瓷零件的生产粘合剂喷射系统的强劲需求,而且越来越多的证据表明增材制造2.0系统的价值。
富洛普继续说:“尽管到年底,我们没有将A-EBITDA的内部目标定为正数,但随着一些客户项目延续到2024年,我们现在已经非常非常接近该目标了。”
“我们现在以较低的成本结构进入新的一年,这使我们能够长期保持弹性。在我们努力实现盈利的过程中,艰苦的工作将继续下去,尽管市场条件艰难,但这一目标显然在眼前。”
2024年展望:Desktop Metal预计2024年的收入为1.75亿美元至2.15亿美元,而市场预期为1.94亿美元;调整后的息税折旧摊销前利润为3000万美元至1000万美元。
价格走势:周五,德国股价上涨19.6%,至0.7369美元。
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