Markforged Q1 revenue down 15% to $20.5M; net loss widens to $35.9M on litigation accrual

Markforged Holding Corp

2024-Q1 EPS reported -$0.18 revenue$20,547,000

Revenue $20.5M vs $24.1M YoY; gross margin improved to 49.3% (non-GAAP 51.3%).
Net loss $35.9M (non-GAAP $12.2M) includes $17.3M accrual for Continuous Composite judgment.
Operating expenses $47.2M, up from $33.1M; non-GAAP OpEx declined to $24.1M.
Cash and equivalents $107.9M at March 31, down from $116.9M at Dec 31, 2023.
George Riedel appointed to board; board size increased from eight to nine.

item 2.02 item 5.02 item 9.01

Executive movements

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Appointed

George Riedel

Director

Markforged Holding Corp

Effective: 2024-05-07
Filed: May 8, 2024, 7:59 PM ET

the Board appointed George Riedel to the Board as a Class II director

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Markforged Holding Corp reported the first quarter ended March 31, 2024 results: revenue $20.5 million.

Period: the first quarter ended March 31, 2024
Revenue: $20.5 million
Result: reported results

Exact text from the filing

of need, today announced its financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Results Compared To First Quarter 2023 • Revenue was $20.5 million compared to $24.1 million. • Gross margin was 49.3% compared to 48.1%. • Non-GAAP gross margin was 51.3% compared to 49.3%. • Operating expenses were $47.2 million, inclusive of

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Executive change SEC 8-K Item 5.02 confidence 0.95

George Riedel was appointed as Director at Markforged Holding Corp.

Action: appointed
Role: Director

Exact text from the filing

the Board appointed George Riedel to the Board as a Class II director

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Source: SEC EDGAR

accession 0000950170-24-055780

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