Desktop Metal Inc Stock Price, News & Analysis

Desktop Metal (NYSE: DM) has acquired Aidro, an expert in additive manufacturing for hydraulic systems, enhancing its capabilities for high-volume production across sectors like oil & gas and aerospace. This strategic move aims to accelerate the adoption of Additive Manufacturing 2.0 by major OEMs. Aidro, founded in 1982, contributes nearly 40 years of experience in optimizing hydraulic components through advanced manufacturing techniques, significantly improving performance compared to conventional methods.

Desktop Metal (NYSE: DM) has successfully qualified 316L stainless steel for its Shop System, the first metal binder jetting system tailored for machine shops. This advancement allows for cost-effective batch production of high-quality parts, significantly enhancing throughput and print quality compared to traditional methods. Applications include custom spray nozzles and medical device closures. The company aims to broaden its additive manufacturing capabilities with this material expansion, emphasizing a materials roadmap designed for competitive production.

Desktop Metal, Inc. (NYSE: DM) reported strong financial results for Q2 2021, achieving a revenue of $19.0 million, up 68% from Q1 and 767% year-over-year. The company also expanded gross margins, with a GAAP gross margin of 12% and a non-GAAP gross margin of 25%. However, a net loss of $43.2 million was noted, driven partly by acquisitions. The company anticipates over $100 million in revenue for 2021 with an annualized run rate of $160 million expected. Recent acquisitions bolster their diversification in the additive manufacturing market.

Desktop Metal will acquire ExOne for $575 million, allowing ExOne shareholders to receive $8.50 in cash and $17.00 in Desktop Metal stock per share, totaling $25.50, a 47.6% premium on ExOne's last closing price. This strategic acquisition aims to create a robust additive manufacturing portfolio, extending Desktop Metal's market reach and enabling customers to optimize production. The transaction is expected to close in Q4 2021, contingent upon shareholder and regulatory approval, with the share consideration subject to a collar mechanism.

Desktop Health, part of Desktop Metal (NYSE: DM), has expanded its dental technology offerings by introducing a turnkey metal 3D printing solution and launching chrome cobalt for dental applications. The Shop System^TM, a leading metal binder jetting solution, allows dental labs to pre-order, enabling high-quality custom dental appliances and surgical guides with exceptional surface finishes. The system significantly reduces production time and costs, capable of printing up to 32 partials in under four hours, making it a game-changer in the dental manufacturing landscape.

Desktop Metal (NYSE:DM) has qualified titanium alloy Ti-6Al-4V (Ti64) for its Studio System 2™, enabling accessible metal 3D printing for high-performance applications. Shipping is set to commence next month, marking Desktop Metal as the first to offer this material for extrusion-based bound metal additive manufacturing. Ti64 is recognized for its high tensile strength and biocompatibility, making it suitable for industries like aerospace, defense, and medical applications. The Studio System 2 assures exceptional mechanical properties, addressing challenges in 3D printing titanium.

Desktop Metal, Inc. (NYSE: DM) will announce its second quarter financial results for the period ended June 30, 2021, after market close on August 11, 2021. A detailed presentation will be available on their Investor Relations website. Following the announcement, the company will host a conference call at 4:30 p.m. EDT, accessible via phone or webcast. Desktop Metal focuses on transforming manufacturing with a range of 3D printing solutions, aiming to improve speed, cost, and quality in additive manufacturing.

On July 27, 2021, Desktop Metal appointed James Eisenstein to its Board of Directors and the Nominating and Corporate Governance Committee. Eisenstein brings over 30 years of experience in technology companies and has founded several multi-billion-dollar companies, notably American Tower Corporation. He expressed enthusiasm for joining Desktop Metal, citing its innovative role in additive manufacturing. CEO Ric Fulop emphasized the value of Eisenstein's expertise for the company’s growth.

Desktop Metal (NYSE: DM) announced the acquisition of Aerosint, known for its innovative multi-material deposition systems in additive manufacturing. Founded in 2016, Aerosint offers proprietary technology that enables selective powder deposition, enhancing material efficiency and application versatility in 3D printing. This acquisition aligns with Desktop Metal's strategy to advance its additive manufacturing capabilities, driving growth and expanding market opportunities. Aerosint will operate as a subsidiary while continuing to engage existing partners, integrating its technology into Desktop Metal products within two years.