Markforged announces full-year 2021 results, reports 27% revenue growth

March 21, 2022

Shai Terem, Markforged president and CEO, states that the company saw tremendous growth in 2021 (Courtesy Markforged)

Markforged, Watertown, Massachusetts, USA, has released the results for its fiscal full year ending December 31, 2021. Revenue was reported to have increased 27% to $91.2 million in 2021, up from $71.9 million in the previous year. Gross profit grew 26%, to $52.9 million, while gross margin was consistent with 2020’s gross margin at 58%.

Net loss from operations was $61 million in 2021 compared to $17.7 million in the year prior. Adjusted EBITDA was a loss of $38.7 million in 2021, compared to a loss of $13.4 million in 2020. Cash and cash equivalents were $288.6 million as of December 31, 2021.

“This has been a tremendous growth year for Markforged,” stated Shai Terem, president and CEO of Markforged. “We executed on the plan we shared a year ago and beat our targets for 2021, making Markforged one of the fastest organically growing Additive Manufacturing companies, with industry-leading gross margins.”

“Thanks to the hard work of our team, we exceeded growth targets for both the fourth quarter and full fiscal year. We saw a 27% organic growth rate in 2021, as the Digital Forge continued to solve manufacturing challenges for customers around the world,” Terem continued. “Our closely integrated hardware, software and materials are designed to allow our customers to overcome ongoing global supply chain constraints by printing industrial-strength parts for critical applications directly at the point-of-need.”

In 2021, Markforged introduced twelve solutions to the Digital Forge platform in the form of Additive Manufacturing machines, software updates and materials. The company also grew its team, nearly doubling in size with around 400 employees at the end of 2021, including several key executive hires.

“Between the release of new, expanded capabilities of the Digital Forge and the material uptick in volume shipment of the FX20 expected in the latter half of this year, we remain confident in our ability to achieve our targets again in 2022,” stated Mark Schwartz, Chief Financial Officer.

Markforged anticipates the revenue from its fiscal year 2022 to grow around 30% year on year to between $114–123 million, with 30% representing the midpoint.

In the latest issue of Metal AM magazine

Download PDF

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

  • The GRCop story: The development, production and Additive Manufacturing of NASA’s rocket engine alloys
  • Formnext 2023: Innovations in metal Additive Manufacturing from the industry’s leading international exhibition
  • Cybersecurity in Additive Manufacturing: Securing the industry’s future
  • Additive Manufacturing in the jewellery industry: exploring the potential of platinum and titanium
  • Mission possible: The five-year plan to gain FAA and EASA acceptance of in-process monitoring

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

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
View online
Share via
Copy link
Powered by Social Snap