Desktop Metal Q1 revenue $40.6M, net loss $(52.1)M; reaffirms FY2024 guidance

Desktop Metal, Inc.

2024-Q1 EPS reported -$0.16 revenue$40,600,000

Revenue $40.6M, down <2% YoY from $41.3M; net loss $(52.1)M includes one-time noncash charges.
Adjusted EBITDA $(13.6)M, improvement of 44% YoY; non-GAAP gross margin 30.5%, up 69.9% YoY.
Cash and short-term investments $66.3M; cash consumption down 47% YoY.
Reaffirms FY2024 guidance: revenue $175M-$215M, adjusted EBITDA $(30)M-$(10)M.
Exploring strategic alternatives for photopolymer portfolio; expects positive adjusted EBITDA in H2 2024.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Desktop Metal, Inc. reported first quarter of fiscal year 2024 results: revenue $40.6 million, net income $(52.1) million. Guidance reaffirmed.

Period: first quarter of fiscal year 2024
Revenue: $40.6 million
Net income: $(52.1) million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Revenue of $40.6 million, down less than 2% year over year

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Source: SEC EDGAR

accession 0001558370-24-007449

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