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.
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Markforged Holding Corporation (NYSE: MKFG) achieved significant growth in Q3 2021, with revenues up 53.8% to $24.0 million compared to Q3 2020. Gross profit also increased by 47.2%, reaching $13.7 million. The company reported a net profit of $23.9 million, contrasting with a net loss of $3.7 million in the prior year. Adjusted EBITDA showed a loss of $11.6 million, worsening from a loss of $2.6 million year-over-year. The launch of new software and aerospace-ready materials aims to expand their market reach. CEO Shai Terem highlighted robust demand for their Digital Forge solution amidst global supply chain challenges.
Markforged has launched the FX20 printer, enhancing its additive manufacturing capabilities. This new printer uses ULTEM™ 9085 filament along with proprietary Continuous Fiber Reinforcement technology, targeting industries such as aerospace, defense, automotive, and oil & gas. The FX20 delivers rapid production of larger, stronger, heat-resistant parts, with a maximum build size of 525 mm x 400 mm x 400 mm and speeds up to eight times faster than previous models. Shipping is expected in early 2022.
Markforged (NYSE: MKFG) will announce its financial results for Q3 2021 on November 10, 2021, after market close. A conference call is scheduled for 5:00 p.m. ET to discuss the results. Interested participants can access the earnings release and related materials on the company's investor website. The replay will be available until November 24, 2021 via the website and by telephone.
Markforged is known for its innovative additive manufacturing solutions, including metal and carbon fiber printers.
Markforged, a leader in additive manufacturing, unveiled Eiger Fleet at RAPID + TCT 2021, a cloud-based software solution aimed at enhancing large-scale additive manufacturing operations. This platform allows users to manage 3D printers and part production efficiently, enabling manufacturers like Vestas to streamline processes and reduce costs. Eiger Fleet offers features such as role-based access control, seamless ERP integration, and performance tracking, transforming traditional manufacturing workflows. The software is available globally as a subscription.
Markforged (NYSE:MKFG) announced that Cabin Management Solutions (CMS) is utilizing its X7™ industrial carbon fiber 3D printers to produce end-use parts for luxury aircraft maintenance. Founded in 2019, CMS collaborates with MRO companies and aircraft owners, utilizing Onyx™ FR materials to create FAA-compliant, flame-retardant parts. The partnership has improved production speed and quality, allowing CMS to print custom components like light switch panels and climate controllers. CMS aims to leverage Markforged's new aerospace-ready materials for enhanced production efficiency.
Markforged Holding Corporation (NYSE: MKFG) reported a 44.1% revenue increase, reaching $20.4 million for Q2 2021, compared to $14.2 million in Q2 2020. Gross profit rose 60.0% to $11.9 million, and gross margins advanced to 58% from 53%. However, the company reported an Adjusted EBITDA loss of $8.9 million, worse than the $4.7 million loss from the same quarter last year. Markforged reaffirmed its 2021 guidance of $87.6 million in expected revenue and a $37 million Adjusted EBITDA loss. The company also launched new products enhancing its digital manufacturing solutions.
Markforged (NYSE: MKFG) announced its upcoming financial results for Q2 ended June 30, 2021, to be released after the market closes on August 12, 2021. A conference call will be held at 5 p.m. ET the same day to discuss the results. Participants can access the call by dialing 1-877-423-9813. A replay of the call will be available until August 26, 2021. The company is known for its integrated metal and carbon fiber additive manufacturing platform, The Digital Forge, aimed at transforming manufacturing.
Markforged (NYSE: MKFG) has appointed John Howard as Vice President of Engineering, tasked with leading the hardware engineering team. Howard brings over 30 years of experience, including significant roles at Amazon's Lab126 and Apple. His expertise includes product design and platform innovation, which Markforged believes will enhance its product roadmap and address manufacturing supply chain challenges. Howard's academic background includes mechanical engineering and manufacturing systems from Stanford University, aligning with Markforged's goal to expand its Digital Forge capabilities.
Markforged (NYSE: MKFG) announced the launch of aerospace-ready materials, Onyx™ FR-A and Carbon Fiber FR-A, for the aviation and defense sectors. These materials are undergoing qualification by the National Center for Advanced Materials Performance (NCAMP), aiming to be the first certified for additive manufacturing by an FAA-authorized body. These innovations support manufacturers in reducing costs and lead times while ensuring compliance with stringent industry standards. The qualification process is expected to be completed in early 2023, allowing customers to utilize these materials for safer and more efficient production.