Welcome to our dedicated page for Markforged Holding Corporation news (Ticker: MKFG), a resource for investors and traders seeking the latest updates and insights on Markforged Holding Corporation stock.
Markforged Holding Corporation (NYSE: MKFG) is a public manufacturing company that focuses on industrial 3D printing and additive manufacturing. Company news frequently emphasizes how its platform, The Digital Forge, brings industrial 3D printing directly to the factory floor, enabling the production of strong, accurate parts in metal and advanced composites at the point of need.
News about Markforged often covers product and technology announcements. Recent releases describe the FX10 Metal Kit, which adds metal printing capability to the FX10 industrial 3D printer so it can print both metal filaments and composites with continuous fiber reinforcement. Markforged has also announced new metal filaments such as 316L stainless steel for use with its systems, along with details about the associated wash and sinter workflow managed through its Eiger software.
Investors and industry observers will also find corporate and capital markets updates in MKFG news. The company has announced a 1-for-10 reverse stock split intended to help maintain NYSE listing requirements, and it regularly reports quarterly and annual financial results with both GAAP and non-GAAP metrics. Markforged has explained how it defines non-GAAP gross margin, non-GAAP operating profit (loss) and non-GAAP net profit (loss) and provides reconciliations in its financial tables.
Another key theme in Markforged news is strategic transactions and legal developments. The company has announced a definitive agreement for an all-cash acquisition by Nano Dimension Ltd., under which Markforged would become an indirect wholly owned subsidiary, subject to stockholder and regulatory approvals. Related news items discuss litigation filed by Desktop Metal, Inc. concerning this pending merger and the subsequent voluntary dismissal of Markforged from that action. Additional releases describe the settlement of patent litigation with Continuous Composites Inc. through a Settlement and Patent License Agreement.
For readers following MKFG, the news stream provides insight into Markforged’s technology roadmap, financial reporting, corporate actions and legal matters that affect its additive manufacturing business.
Markforged (NYSE: MKFG) will announce its financial results for the third quarter ending September 30, 2022, after market close on November 9, 2022. A conference call to discuss the results is scheduled for 5:00 PM ET the same day, with participation details provided for both domestic and international attendees. Markforged aims to revolutionize manufacturing through its Digital Forge platform, combining hardware, software, and materials for efficient supply chain solutions. For investors, further details can be found on the Markforged investor relations website.
Markforged (NYSE: MKFG) announced the addition of Smooth TPU 95A to its material portfolio, enabling manufacturers to produce flexible, high-quality parts on demand. This new rubber-like material enhances the versatility of manufacturing, allowing for the creation of intricate designs essential for various industries, including aerospace and automotive. Markforged’s The Digital Forge platform addresses common challenges in 3D printing flexible materials, ensuring reliability and consistency. Smooth TPU 95A is available for Mark Two and Onyx Pro (Gen 2) printers, with broader availability on other models planned for later this year.
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.