Markforged posts record first quarter results

May 15, 2023

Markforged acquired Sweden’s Digital Metal in 2022 (Courtesy Markforged/Digital Metal)
Markforged acquired Sweden’s Digital Metal in 2022 (Courtesy Markforged/Digital Metal)

Markforged, Watertown, Massachusetts, USA, has shared its financial report for the first quarter 2023. As of March 31, the company has reported a revenue increase of 10% to $24.1 million, up from $21.9 million in the first quarter of 2022.

Shai Terem, President and CEO of Markforged shared, “We have started the year strong with another record first quarter revenues and the largest pipeline in our company’s history. Demand for the Digital Forge grew across all geographies in Q1, as an increasing number of manufacturers are choosing our metal and composite solutions to solve mission-critical metal applications at the point of need.”

THE WORLD OF METAL AM TO YOUR INBOX
Subscribe to our twice-weekly newsletter
Register now

Gross profit remained stable generating $11.6 million in both the first quarters of 2023 and 2022. Furthermore, non-GAAP gross profit was $11.9 million in the first quarter of 2023 compared to $11.7 million in the first quarter of 2022.

However, Markforged reported a net loss of $19.0 million in the first quarter of 2023, compared to a net profit of $4.2 million in the first quarter of 2022. Whereas non-GAAP net loss marked a loss of $13.3 million in the first quarter of 2023, compared to a loss of $14.9 million in the first quarter of 2022.

“We believe our Q1 results are a reflection of strong execution of our strategy and an early indicator of the meaningful opportunity for Markforged in the coming quarters as we remain laser focused on margin expansion and driving profitable growth,” Terem concluded.

https://markforged.com/

In the latest issue of Metal AM magazine

Download PDF
 

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

  • Aluminium Additive Manufacturing: How a new generation of alloys will fuel industry growth
  • Shaping a national Additive Manufacturing ecosystem: The strategic growth of metal AM in Türkiye
  • How metal Additive Manufacturing is transforming modern hydraulic systems
  • High-performance product development in the era of computational design: a case study with nTop and NASA
  • The Additive Manufacturing of record-breaking pure copper heatsinks for high-performance computing applications
  • The Additive Manufacturing of tool steels: how non-linear modelling enables precise hardness control

Join 40,000+ other AM professionals – follow us online

Don’t miss a thing – register for our newsletter

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

Register now

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
Find suppliers

About Metal Additive Manufacturing magazine

Metal AM magazine, published quarterly in digital and print formats, is read by a rapidly expanding international audience.

Our audience includes component manufacturers, end-users, materials and equipment suppliers, analysts, researchers and more.

In addition to providing extensive industry news coverage, Metal AM magazine is known for exclusive, in-depth articles and technical reports.

Our focus is the entire metal AM process from design to application.

Each issue is available as an easy-to-navigate digital edition and a high-quality print publication.

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

Share via
Copy link
Powered by Social Snap