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Desktop Metal Revenue Surges

By SME Media Staff

Additive manufacturer Desktop Metal said today its fourth-quarter revenue surged as the company completed its first full year as a publicly traded entity.

Burlington, Mass.-based Desktop Metal posted quarterly revenue of $56.7 million, more than double from the third quarter and up 577 percent from the year-earlier quarter.

The company said its quarterly revenue excluding its acquisition of ExOne totaled $41.2 million.

Desktop Metal reported a quarterly loss of $71.2 million. The company said that included $10 million in transaction costs associated with acquisitions and charges of $8.3 million “to fair value of investments.”

On an adjusted EBITA (earnings before interest, taxes and amortization), Desktop Metal had a quarterly loss of $25.7 million.

For all of 2021, the company’s revenue totaled $112.4 million, up from $16.5 million in 2020. Revenue excluding the ExOne acquisition totaled $96.9 million.

The company posted a full-year loss of $240.3 million, or 92 cents a share. That included $56.6 million in charges and $25.6 million in costs related to acquisitions. That compares to a year-earlier loss of $34 million, or 22 cents.  Desktop Metal’s adjusted EBITA loss was $96.1 million.

During 2021, Desktop Metal began shipments of Production System P-50, the company’s technology for mass producing end-use metal parts. It also introduced various new lines of printers and brands.

Desktop Metal forecast 2022 revenue of about $260 million and a loss of $90 million on an adjusted EBITA basis.

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