Markforged Holding Corporation Stock Price, News & Analysis

Markforged (NYSE: MKFG) is set to participate in several upcoming virtual conferences, including the Citi 2022 Global Technology Conference on September 8 at 3:15 p.m. ET and the Goldman Sachs Communacopia + Technology Conference on September 14 at 6:00 p.m. ET. Mark Schwartz, CFO, will engage with investors at the Citi and Lake Street's BIG6 Conference, while CEO Shai Terem will meet with investors at Goldman Sachs. This highlights Markforged's commitment to innovation in additive manufacturing through its Digital Forge platform.

Markforged (NYSE: MKFG) has acquired Digital Metal for approximately $32 million in cash, 4.1 million shares of common stock, and $1.5 million to settle intercompany balances. The acquisition enhances Markforged's ability to mass produce metal parts through Digital Metal's precise binder jetting technology. Digital Metal will operate as a subsidiary, continuing to serve various industries, including automotive and aerospace. CEO Shai Terem emphasizes the integration aims to accelerate Digital Metal's adoption and improve manufacturing capabilities.

Markforged Holding Corporation (NYSE: MKFG) reported a 19% increase in revenue to $24.2 million for Q2 2022, compared to $20.4 million in Q2 2021. Gross margin decreased to 53% from 58% year-over-year. The company experienced a net profit of $4.1 million compared to a loss of $11.1 million in the prior year. Non-GAAP losses widened to $16.8 million versus $8.1 million. Cash reserves stood at $243.2 million. Markforged announced plans to acquire Digital Metal, aiming to enhance its market presence in high-throughput metal production, and adjusted its 2022 revenue guidance to $100-115 million.

Markforged (NYSE: MKFG) will report its Q2 financial results on August 11, 2022, after market closure. A webcast and conference call are scheduled for 5:00 PM ET on the same day to discuss the results. Participants can access the earnings press release and related materials via the investors section of the Company’s website. A replay of the call will be available until August 25, 2022.

Markforged has entered a definitive agreement to acquire Digital Metal from Höganäs AB for approximately $32 million, 4.1 million shares of Markforged common stock, and $1.5 million in cash for intercompany balances. This acquisition is expected to enhance Markforged's capabilities in high-throughput production of metal parts, addressing manufacturing challenges for industrial customers. The deal is set to close in Q3 2022, pending customary conditions.

Markforged (NYSE: MKFG) announced its participation in several key upcoming conferences. These include the Craig-Hallum 19th Annual Institutional Investor Conference on June 1, the William Blair’s 42nd Annual Growth Stock Conference on June 7 at 3:40 p.m. EDT, and the Stifel 2022 Cross Sector Insight Conference on June 9 at 1:50 p.m. EDT. Markforged is redefining manufacturing through its Digital Forge platform, which integrates metal and carbon fiber additive manufacturing technologies. The firm is based in Watertown, Mass., and employs over 400 people worldwide.

Markforged (NYSE: MKFG) has partnered with 3YOURMIND to integrate its Eiger software with 3YOURMIND's manufacturing execution software. This collaboration aims to facilitate Industry 4.0 adoption by providing an end-to-end additive manufacturing workflow. Through API integration, manufacturers can automate and streamline their production processes, enhancing connectivity and data handling. The integration will also improve real-time monitoring of multi-vendor 3D printers, increasing efficiency and productivity in manufacturing environments.

Markforged Holding Corporation (NYSE: MKFG) reported Q1 2022 results, highlighting an 8.6% revenue increase to $21.9 million, up from $20.1 million in Q1 2021. The gross margin fell to 53.1% from 60.5% year-over-year. The company achieved a net profit of $4.2 million compared to a loss of $10 million in the prior year. However, non-GAAP metrics showed a loss of $15.5 million. Markforged reaffirms 2022 revenue guidance of $114-123 million and aims for non-GAAP gross margins of 55%-57%. The acquisition of Teton Simulation Software is noted as a significant move to enhance product offerings.

Markforged (NYSE: MKFG) will announce its financial results for Q1 2022 on May 12, 2022, after market close. The company will hold a conference call at 5:00 p.m. ET that day to discuss the results. Investors can access the earnings release and related materials on the company's investor website. A replay of the call will be available until May 26, 2022. Markforged specializes in additive manufacturing, providing solutions that combine metal and carbon fiber technologies to aid in manufacturing and supply chain efficiency.