Markforged Holding Corporation Stock Price, News & Analysis

Markforged (NYSE: MKFG) announced that Desktop Metal has voluntarily dismissed Markforged from its previously filed complaint regarding the pending merger with Nano Dimension. The complaint, filed on January 2, 2025, alleged that Nano breached terms of its merger agreement with Desktop Metal by entering into a subsequent merger agreement with Markforged on September 25, 2024.

Desktop Metal had sought to prevent the Markforged-Nano merger from closing before its own merger with Nano. As of January 24, 2025, Markforged has obtained all required regulatory approvals except for the Committee on Foreign Investment in the United States filing. The company maintains that Desktop Metal's claims were without merit. On January 22, 2025, Desktop Metal filed a notice of voluntary dismissal to remove Markforged from the action.

Markforged (NYSE: MKFG) announced that a complaint has been filed against them regarding their pending merger with Nano Dimension . The complaint was filed by Desktop Metal Inc. in the Delaware Court of Chancery on December 31, 2024.

The lawsuit alleges that Nano breached its merger agreement with Desktop Metal by entering into a subsequent merger agreement with Markforged. Desktop Metal is seeking to prevent the Markforged-Nano merger from being completed until the Desktop Metal-Nano merger closes.

While Markforged has obtained approval for all regulatory filings except for the Committee on Foreign Investment in the United States, they believe Desktop Metal's claims are without merit and plan to vigorously defend against them.

Markforged (NYSE: MKFG) reported Q3 2024 financial results with revenue of $20.5 million, up 2.0% year-over-year. The company achieved a non-GAAP gross margin of 50.9%, improving from 46.9% in Q3 2023. Net loss narrowed to $23.4 million from $51.4 million year-over-year. Consumables and services sales grew 11.8% and 13.2% respectively. Cash position stood at $79.5 million as of September 30, 2024. The company announced a pending acquisition by Nano Dimension for $5.00 per share and settled IP litigation with Continuous Composites for $25 million in total payments.

Markforged (NYSE: MKFG) announced it will release its third quarter 2024 financial results after market close on Thursday, November 7, 2024. Due to the pending merger with Nano Dimension announced on September 25, 2024, the company will not host an earnings conference call or provide financial guidance, following standard practice during such transactions.

Nano Dimension has announced its acquisition of Markforged in an all-cash transaction for $5.00 per share, totaling $115 million. This move follows Nano Dimension's recent agreement to acquire Desktop Metal, positioning the company as a leading player in Additive Manufacturing (AM). The combined entity, including Nano Dimension, Desktop Metal, and Markforged, is expected to have a 2023 revenue of $340 million and approximately $475 million in cash and cash equivalents post-closing.

The acquisition aims to expand Nano Dimension's product portfolio, particularly in fused filament fabrication (FFF) for high-performance applications and Metal-AM. It also strengthens the company's focus on sophisticated materials for high-performance applications. The transaction is expected to close in the first quarter of 2025, subject to Markforged stockholder approval and regulatory clearances.

Markforged Holding (NYSE: MKFG) has announced a Settlement and Patent License Agreement with Continuous Composites Inc., resolving all claims in their patent infringement litigation. The settlement includes an upfront payment of $18 million from Markforged, followed by three additional installments totaling $7 million over the next three years. The agreement provides for cross-licenses of patent portfolios, mutual release of claims, and covenants not to sue.

Additionally, Markforged reported the successful launch of metal printing capability for the FX10, described as the world's first industrial 3D printer for metals and composites, at the International Manufacturing Technology Show in Chicago. CEO Shai Terem expressed satisfaction with the settlement and excitement about the FX10 launch, emphasizing the company's focus on advancing strategic objectives and bringing industrial 3D printing to factory floors.

Markforged Holding (NYSE: MKFG) has announced a 1-for-10 reverse stock split of its Common Stock, effective September 19, 2024. This move aims to bring the company into compliance with the NYSE's minimum bid price requirement. Key points include:

- Outstanding shares will reduce from ~203 million to ~20.3 million
- Trading under symbol 'MKFG' continues with a new CUSIP number
- Proportional adjustments to equity incentive plans and warrants
- Authorized shares reduced from 1 billion to 100 million
- No fractional shares issued; stockholders receive whole shares

The split affects stockholders of record and those owning shares through brokers. Continental Stock Transfer & Trust Company is managing the exchange process.

Markforged (NYSE: MKFG) has introduced the FX10 Metal Kit, transforming the FX10 into the world's first industrial 3D printer capable of printing both metal filaments and composites with continuous fiber reinforcement. This modular upgrade enhances the versatility of the FX10, released in November 2023, allowing customers to gain additional value post-purchase.

Key features include:

• New 316L stainless steel metal filament, with future support for other metals
• Swappable print engine for easy transition between metal and composite printing
• 2nd Generation Metal FFF engine for faster printing
• Twice the print volume of previous Markforged industrial metal printers
• Integration with Markforged's Wash-1 and Sinter-2 solutions for post-processing
• Eiger software for automated process management

The FX10 Metal Kit aims to increase factory floor productivity and reduce potential line down events.

Markforged (NYSE: MKFG) announced Q2 2024 financial results and a $25M cost reduction initiative. Key highlights:

- Revenue: $21.7M (vs $25.4M in Q2 2023)
- Gross margin: 50.2% (vs 47.0%)
- Net loss: $14.4M (vs $19.0M)
- Cash and equivalents: $93.9M

The company shipped its first PX100 metal binder jetting system and accelerated FX10 shipments. Markforged updated its 2024 outlook, expecting revenues between $90-95M and non-GAAP gross margins in the upper range of 48-50%. The company anticipates returning to year-over-year revenue growth in H2 2024.