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Desktop Metal, Inc. (NYSE: DM) regularly issues news that reflects its role in Additive Manufacturing 2.0 and the industrial 3D printing market. Company announcements cover topics ranging from corporate strategy and legal developments to product qualifications, technology showcases, and sector-specific applications in areas such as dental, automotive, and industrial manufacturing.
Recent news has focused heavily on the proposed merger between Desktop Metal and Nano Dimension Ltd. Desktop Metal has disclosed multiple legal actions in the Delaware Court of Chancery, alleging breaches of the merger agreement and seeking specific performance to require Nano Dimension to obtain regulatory approvals and complete the transaction. Updates include the granting of an expedited trial and a later court ruling that, according to Desktop Metal, found Nano Dimension in material breach and ordered steps intended to allow the merger to close.
Beyond corporate and legal news, Desktop Metal frequently highlights developments in its product and materials portfolio. Examples include qualification of a 100% recycled nickel-based superalloy from Continuum Powders for use on its metal binder jet 3D printers, as well as the showcasing of technologies such as the Figur G15 Pro Digital Sheet Forming system, the Studio System, Shop System, InnoventX, and the PureSinter Furnace at major industry events like IMTS.
Desktop Health, the company’s dental and medical brand, also generates news through validations of Flexcera nanoceramic resins for additional 3D printer platforms and clinical indications, including implant-supported denture provisionals. Visitors to this news page can review these updates to understand how Desktop Metal is positioning its technologies, how its merger process is progressing, and how its materials and systems are being adopted across different applications.
Desktop Metal (NYSE: DM) reported record revenue of $57.7 million for Q2 2022, marking a 204% increase year-over-year and a 32% rise sequentially. The company announced a strategic cost optimization initiative anticipating $40 million in annual savings and introduced FreeFoam, a new 3D printable resin. Despite the positive revenue growth, Desktop Metal experienced a net loss of $297.3 million, largely due to a non-cash goodwill impairment charge. The company maintains its full-year revenue guidance of $260 million, projecting a 131% increase from 2021.
Desktop Metal, Inc. (NYSE: DM) announced that CEO Ric Fulop will present at two upcoming conferences. On August 9, 2022, Fulop will present at the Jefferies Industrials Conference at 3:00 p.m. ET. The following day, August 10, 2022, he will present at the Oppenheimer 25th Annual Technology, Internet & Communications Conference at 3:45 p.m. ET. Webcasts will be available on the investor relations website, and registration is recommended at least 15 minutes prior to the presentations.
Desktop Metal, based in Burlington, Massachusetts, focuses on advanced 3D printing solutions.
Desktop Metal, Inc. (NYSE: DM) has announced that its Studio System now qualifies the use of IN625, expanding its portfolio to a total of eight materials. This innovative metal 3D printing platform simplifies the production of high-performance metal parts for various applications, especially in aerospace and chemical processing. The Studio System 2 leverages a two-step process that enhances material flexibility while remaining office-friendly. IN625’s high strength and resistance make it desirable, though its machining requires specialized tools.
Desktop Metal, Inc. (NYSE: DM) is set to report its Q2 2022 financial results after market close on August 8, 2022. A conference call will follow at 4:30 p.m. ET to discuss these results, accessible via a dedicated phone line and online webcast. Interested parties can view the summary presentation following the earnings release on their Investor Relations website. As a leader in 3D printing solutions, Desktop Metal aims to transform manufacturing through innovative technologies.
Desktop Metal, Inc. (NYSE: DM) has announced the upcoming departure of Chief Financial Officer James Haley, who will transition to pursue other interests by December 31, 2022, or upon the arrival of a new CFO. Haley will remain in an advisory role afterward. CEO Ric Fulop praised Haley's contributions in navigating the company’s growth as a public entity. The company has engaged an executive search firm to find a successor. Desktop Metal continues to focus on expanding its 3D printing solutions, emphasizing its current strong financial position and innovative capabilities.
Desktop Metal (NYSE: DM) has expanded its partnership with SolidCAM, enabling the latter to sell DM's metal additive manufacturing systems in the U.S., U.K., Israel, and India. SolidCAM, a key distributor of CNC software, aims to enhance its offerings through new showrooms showcasing DM's technology. This collaboration highlights the synergy between additive manufacturing and traditional CNC machining, promising greater efficiency for manufacturers. The announcement was made in conjunction with the upcoming IMTS 2022 trade show, where both companies will showcase their innovations.
Desktop Metal (NYSE: DM) has launched FreeFoam™, an innovative family of photopolymer resins that expands after 3D printing, revolutionizing foam production. This new material can expand from 2 to 7 times its original size when heated, allowing parts to be shipped compactly and expanded on-site, reducing shipping costs. FreeFoam benefits multiple industries, including automotive and healthcare, by replacing traditional foam manufacturing methods. The resin will be available in various hardness values and is exclusively printable on the ETEC Xtreme 8K DLP system. Commercial availability is expected in 2023.
Desktop Metal (NYSE: DM) announced a strategic integration and cost optimization initiative aimed at achieving approximately $40 million in annualized non-GAAP cost savings, with $20 million expected in the latter half of 2022. This initiative includes a 12% workforce reduction and facility consolidations, focusing on driving revenue and margin growth. The company plans to realize aggregate cost savings of at least $100 million over the next 24 months. Desktop Metal is committed to advancing its leadership in Additive Manufacturing 2.0 and enhancing product innovation.
Desktop Metal (NYSE: DM) has qualified 925 sterling silver for 3D printing on its Production System platform, enabling faster manufacturing for jewelry and luxury goods. The company is fast-tracking the qualification of 18K yellow gold and developing strategic partnerships to enhance precious metal supply chains. The upcoming JCK Show in Las Vegas will showcase designs by Christian Tse, demonstrating the capabilities of Desktop Metal's technology. The Production System offers high-volume, customizable production and reduces material waste, revolutionizing the jewelry industry.
The Defense Logistics Agency has awarded Concurrent Technologies Corporation a prime contract valued at up to $15 million to develop 3D printed sand-casting molds. Desktop Metal, trading under the symbol DM, is a key partner in this project, collaborating with CTC and other entities. The base year of the contract is worth $4.6 million, with options potentially extending its value. This initiative aims to address obsolete casting needs and enhance supply chain agility through advanced 3D printing technologies.