Desktop Metal Inc Stock Price, News & Analysis

Desktop Metal (NYSE: DM) has launched Desktop Health, a new business line focused on additive manufacturing solutions for dental, orthodontic, and otolaryngology applications. The initiative aims to leverage technologies like bioprinting and metal binder jetting to develop healthcare applications. CEO Ric Fulop highlighted the opportunity to manufacture patient-specific medical products, targeting a market worth over $85 billion. Michael Mazen Jafar has been appointed President and CEO of Desktop Health, bringing 20 years of healthcare experience.

Desktop Metal (NYSE: DM) reported its Q4 and full-year 2020 financial results, highlighting a transformative year as it became the first publicly traded pure-play AM 2.0 company.

Q4 revenue surged to $8.4 million, up from $2.5 million in Q3, while full-year revenue hit $16.5 million. The company faced a net loss of $25.4 million in Q4 and $90.4 million for the year. The acquisition of EnvisionTEC boosts its solutions portfolio and market position. The company's cash and short-term investments reached $595.4 million.

Desktop Metal has partnered with Uniformity Labs to develop a groundbreaking aluminum powder for binder jetting additive manufacturing. This sinterable 6061 aluminum offers over 10% elongation and enhanced yield and tensile strength compared to traditional wrought aluminum. With the global aluminum castings market exceeding $50 billion annually, this innovation positions Desktop Metal to capitalize on a significant market opportunity. The new powder boasts improved safety, compatibility with water-based binders, and will be available exclusively to Desktop Metal customers as the companies continue to scale production.

Desktop Metal (NYSE: DM) will report its first financial results as a public company for Q4 and FY 2020 on March 15, 2021. The results will be announced before the market opens, followed by a conference call at 8:30 a.m. ET. Participants can join the call by dialing 1-877-407-4018 or via international line 1-201-689-8471. A live webcast will also be available on the company’s Investor Relations website. A replay will be accessible until March 29, 2021, using the access code 13717409.

Desktop Metal (NYSE: DM) announced the redemption of all outstanding Public Warrants issued in its initial public offering. The redemption will occur at a price of $0.01 per warrant on March 29, 2021. Holders can exercise warrants at $11.50 per share until the redemption date. Approximately 75% of the warrants have already been exercised. CEO Ric Fulop emphasized that this move will streamline capital structure and enhance cash reserves for growth initiatives and strategic investments.

Desktop Metal, Inc. (NYSE: DM) announced the appointments of James Haley as Chief Financial Officer and Arjun Aggarwal as Chief Product Officer. Haley, effective February 12, brings over 25 years of financial leadership experience, having served as VP of Finance since August 2020. Aggarwal, effective February 9, initially joined the company in 2017 and will oversee product portfolio strategy. CEO Ric Fulop commended both executives for their roles in driving growth and delivering shareholder value.

Desktop Metal, Inc. (NYSE: DM) has signed a definitive agreement to acquire EnvisionTEC for $300 million in cash and stock. The deal, expected to close in Q1 2021, will see EnvisionTEC operate as a wholly owned subsidiary. EnvisionTEC's founder, Al Siblani, remains CEO. This acquisition aims to enhance Desktop Metal's additive manufacturing capabilities, leveraging EnvisionTEC's strong IP portfolio and broad customer base. EnvisionTEC holds over 140 patents and serves industries like medical devices and dental printing. The combined entity anticipates significant growth in the additive manufacturing market.

Desktop Metal (NYSE: DM) announced its participation in two upcoming investor conferences. On January 11, 2021, the company will present at the 23rd Annual Needham Virtual Growth Conference at 10:45 – 11:25 a.m. ET, followed by one-on-one meetings. On January 13, 2021, it will participate in the ICR Growth Conference at 1:30 – 2:25 p.m. ET. Webcasts of both presentations will be available on the company's investor relations site. Desktop Metal, based in Burlington, Massachusetts, specializes in 3D printing solutions.

Desktop Metal (NYSE: DM) has appointed Scott Dussault to its Board of Directors and as Chairman of the Audit Committee, effective December 18, 2020. This announcement follows Stephen Nigro's election to the Board after the business combination with Trine Acquisition Corp. on December 9, 2020. Nigro brings extensive experience from his tenure at HP, while Dussault has over 20 years of operational and financial leadership. Both appointments are expected to enhance Desktop Metal's strategic direction and shareholder value in the additive manufacturing sector.