Desktop Metal revenue up 583%, boosted by acquisitions

March 14, 2022

desktop metal
Ric Fulop, Desktop Metal’s co-founder and CEO believes there will be continued success for the company in 2022 (Courtesy Desktop Metal)

Desktop Metal, Boston, Massachusetts, USA, has announced its preliminary unaudited financial results for the full year ended December 31, 2021. Revenue was reported at $112.4 million, up 583% from 2020. Revenue excluding ExOne was reported at $96.9 million, up 488% from 2020. GAAP gross margin was 16%, and non-GAAP gross margin of 27%.

Net loss was reported at $240.3 million, including $56.6 million of changes in fair value of warrant liability and $25.6 million of in-process research and development assets related to acquisitions. Adjusted EBITDA of $(96.1) million was reported. The company also noted a strong ending liquidity position with cash, cash equivalents, and short-term investments of $271.7 million as of December 31, 2021.

“With record total revenue, organic revenue, and gross margins, the fourth quarter was an exceptional finish to a revolutionary year for Desktop Metal,” stated Ric Fulop, CEO and co-founder of Desktop Metal. “We also recently commenced shipments of our flagship Production System P-50, a major milestone for Desktop Metal and the Additive Manufacturing industry.”

“In addition to the team’s achievement on P-50, we’re entering 2022 with considerable tailwinds toward another year of record growth including continued momentum from the best quarter in company history, robust customer demand across our unmatched AM 2.0 solutions portfolio, and favourable market conditions as the additive market inflects,” continued Fulop. “We believe our strategic priorities in 2022 will ensure continued success toward achieving our goal of double-digit share of the over $100 billion Additive Manufacturing market by the end of the decade.”

For its outlook for the full year 2022, Desktop Metal states that it expects revenue of approximately $260 million for 2022, representing 131% growth from 2021. An adjusted EBITDA of about $(90) million is expected for 2022.

Further information is available through the company’s website.

www.desktopmetal.com

desktop metal

In the latest issue of Metal AM magazine

Download PDF
 

Extensive AM industry news coverage, as well as the following exclusive deep-dive articles:

  • Revolution, not evolution: General Motors on building an AM culture and the AM Dream Machine
  • The power of Additive Manufacturing in the hands of artists: Public works to small batch production
  • Growing momentum and broadening recognition: A status update on the rise of Electron Beam PBF
  • Improving carbon capture efficiency through Additive Manufacturing in the race for a liveable climate
  • The System of AM Systems: How Metal Powder Works’ in-process powder production could change metal AM
  • The next generation: Using metal AM to drive emissions reduction and educate the engineers of the future
  • Advances in the AM of refractory metals and hard materials at the 20th Plansee Seminar
  • Additive Manufacturing needs you: Why you and your company should get involved in standards development

The world of metal AM to your inbox

Don't miss any new issue of Metal AM magazine, and get the latest industry news. Sign up to our twice weekly newsletter.

Sign up

News from the industry…

    News from the industry…

    Discover our magazine archive…

    The free to access Metal Additive Manufacturing magazine archive offers unparalleled insight into the world of metal Additive Manufacturing from a commercial and technological perspective through:

    • Reports on visits to leading metal AM part manufacturers and industry suppliers
    • Articles on technology and application trends
    • Information on materials developments
    • Reviews of key technical presentations from the international conference circuit
    • International industry news

    All past issues are available to download as free PDFs or view in your browser.

    Browse the archive

    Looking for AM machines, metal powders or part manufacturing services?

    Discover suppliers of these and more in our comprehensive advertisers’ index and buyer’s guide, available in the back of Metal AM magazine.

    • AM machines
    • Process monitoring & calibration
    • Heat treatment & sintering
    • HIP systems & services
    • Pre- & post-processing technology
    • Powders, powder production and analysis
    • Part manufacturers
    • Consulting, training & market data
    Download PDF
    Share via
    Copy link
    Powered by Social Snap