Desktop Metal Inc Stock Price, News & Analysis

Desktop Metal, Inc. (NYSE: DM) will join the Russell 2000® Index following the 2021 annual reconstitution effective June 28, 2021. This inclusion is based on its membership in the Russell 3000® Index, which is recognized by investment managers and institutional investors for benchmarking. Approximately $10.6 trillion in assets utilize Russell indexes. Desktop Metal, known for its innovative 3D printing solutions, aims to revolutionize manufacturing by tackling challenges related to speed, cost, and quality.

Desktop Metal (NYSE: DM) has successfully qualified 4140 low-alloy steel for its Production SystemTM platform, a breakthrough in metal additive manufacturing. This qualification allows for the mass production of complex parts using 4140, a versatile material known for its toughness and strength. Businesses can now produce parts faster and cheaper, achieving up to 690,000 parts annually at costs as low as $0.28 per cubic centimeter. This advancement represents significant cost and time savings compared to traditional manufacturing methods, setting Desktop Metal apart as a leader in the industry.

Desktop Metal, Inc. (NYSE: DM) reported a robust first quarter for 2021, achieving $11.3 million in revenue, up 35% from Q4 2020 and 234% year-over-year. The company experienced accelerated customer adoption, adding more clients than in all of 2020 combined. Significant highlights included the acquisition of Adaptive3D, expansion of their materials portfolio to over 225 materials, and the launch of Flexcera for dental applications. However, the net loss was $59.1 million. Desktop Metal maintains a strong liquidity position with $572.2 million in cash as of March 31, 2021.

Desktop Metal has acquired Adaptive3D, a leader in elastomeric solutions for additive manufacturing. This acquisition aims to enhance Desktop Metal's material portfolio and support high-volume applications. Adaptive3D specializes in producing photopolymer elastomers that facilitate the production of durable, biocompatible parts across various industries, including healthcare and transportation. The partnership will leverage Adaptive3D’s advanced materials with Desktop Metal’s high-throughput printers. This acquisition positions Desktop Metal to capture a share of the estimated $129 billion elastomer market.

Desktop Health, launched by Desktop Metal, has received FDA 510(k) clearance for its Flexcera^TM Base, a proprietary resin for 3D fabrication of dental prosthetics. This marks the company's entry into the digital dental solutions market alongside Flexcera^TM Smile. The global dentures market is projected to reach $3.8 billion by 2027, driven by the increasing edentulous population in the U.S. Flexcera promises enhanced strength, aesthetics, and moisture resistance, making it suitable for same-day dental prosthetics, with commercialization expected by June.

Desktop Metal, Inc. (NYSE: DM) announced that it will release its first-quarter financial results for the period ending March 31, 2021, after market closure on May 17, 2021. A presentation summarizing the financial results will be available on the Investor Relations website. The company will hold a conference call at 4:30 p.m. EST on the same day to discuss the results.

Desktop Metal, founded in 2015, focuses on transforming manufacturing through innovative 3D printing solutions and has gained recognition from the World Economic Forum and MIT Technology Review.

Desktop Metal (NYSE: DM) is set to present at two investor conferences. The first will be the 16th Annual Needham Virtual Technology & Media Conference on May 19, 2021, at 10:15 - 10:55 a.m. ET, followed by the Stifel 2021 Virtual Cross Sector Insight Conference on June 10, 2021, at 11:20 - 11:50 a.m. ET. Both events will include one-on-one meetings for institutional investors. Interested parties can access webcasts on the Events and Presentations section of the company's investor relations website.

Desktop Metal (NYSE: DM) has launched Forust™, a groundbreaking 3D printing process that transforms wood manufacturing waste into functional wood parts. Utilizing patented binder jetting technology, Forust upcycles cellulose dust and lignin, producing high-quality custom wooden items with a digital grain. This innovation offers architects and designers a sustainable alternative to traditional woodworking, significantly reducing waste and carbon footprints while enhancing design capabilities. The global finished wood products market is projected to reach $1.8 trillion by 2027, presenting substantial growth opportunities for Forust.

Desktop Metal (NYSE: DM) has successfully qualified 316L stainless steel for its Production System™ platform, utilizing Single Pass Jetting™ (SPJ) technology for enhanced speed in metal additive manufacturing. With applications across marine, pharmaceutical, and medical industries, 316L offers excellent corrosion resistance and mechanical properties. Notably, the Production System P-50 can produce over 5,500 parts weekly at competitive costs, demonstrating its capability to deliver high-quality, end-use parts efficiently.