NYSE
59 days, 9 hours ago 
DM
Desktop Metal, INC
Form 4: Desktop Metal Insider Farhad Fred Ebrahimi Reports Share Disposal Following Nano Dimension Merger
Farhad Fred Ebrahimi, a director and 10% owner of Desktop Metal, reports the disposal of shares following the merger with Nano Dimension, where Desktop Metal became a wholly-owned subsidiary of Nano.
NYSE
64 days, 10 hours ago 
DM
Desktop Metal, INC
Form 4: Desktop Metal Director Steve Papa Reports Share Cancellation and Cash Conversion Following Nano Dimension Merger
Director Steve Papa reports the cancellation of Desktop Metal shares and conversion to cash following the merger with Nano Dimension.
NYSE
64 days, 10 hours ago 
DM
Desktop Metal, INC
Form 4: Desktop Metal Director Stephen Nigro Reports Share Conversion and Cash Receipt Following Nano Dimension Merger
Stephen Nigro, a director at Desktop Metal, reports the conversion of restricted stock units and Class A Common Stock into cash following the merger with Nano Dimension.
NYSE
64 days, 10 hours ago 
DM
Desktop Metal, INC
Form 4: Desktop Metal Director James Eisenstein Reports Share Conversion and Cash Receipt Following Nano Dimension Merger
James Eisenstein, a director at Desktop Metal, reports the conversion of restricted stock units and Class A Common Stock into cash following the merger with Nano Dimension.
NYSE
64 days, 10 hours ago 
DM
Desktop Metal, INC
Form 4: Desktop Metal Director Wen Hsuan Hsieh Reports Changes in Beneficial Ownership Following Merger with Nano Dimension
Director Wen Hsuan Hsieh reports changes in beneficial ownership of Desktop Metal, Inc. stock following the merger with Nano Dimension, where each share was converted to $5.295 in cash.
NYSE
64 days, 10 hours ago 
DM
Desktop Metal, INC
Form 4: Desktop Metal Director Jeffrey Immelt Reports Share Conversion and Option Cancellation Following Nano Dimension Merger
Jeffrey Immelt, a director of Desktop Metal, reports the conversion of Class A Common Stock and cancellation of stock options following the merger with Nano Dimension on April 2, 2025.
NYSE
64 days, 10 hours ago 
DM
Desktop Metal, INC
Form 4: Desktop Metal Executive Myerberg Reports Share Disposal Following Nano Dimension Merger
Following the merger of Desktop Metal with Nano Dimension, Chief Technology Officer Jonah Myerberg reports the disposal of shares and derivative securities as per the merger agreement.
NYSE
64 days, 10 hours ago 
DM
Desktop Metal, INC
Form 4: Desktop Metal CFO Reports Share Cancellation and RSU Replacement Following Nano Dimension Merger
Jason M. Cole, CFO of Desktop Metal, reports the cancellation of Class A Common Stock and replacement of restricted stock units (RSUs) due to the merger with Nano Dimension Ltd.
NYSE
64 days, 10 hours ago 
DM
Desktop Metal, INC
Form 4: Desktop Metal Director Dayna Grayson Reports Share Cancellation and Cash Conversion Following Nano Dimension Merger
Director Dayna Grayson reports the cancellation of Desktop Metal shares and conversion to cash following the merger with Nano Dimension.
NYSE
65 days, 7 hours ago 
DM
Desktop Metal, INC
Form 4: Desktop Metal Executive Reports Share Transactions Following Merger with Nano Dimension
Thomas Nogueira, Chief Operating Officer of Desktop Metal, reports transactions involving Class A Common Stock and derivative securities following the merger with Nano Dimension on April 2, 2025.
NYSE
66 days, 17 hours ago 
DM
Desktop Metal, INC
8-K: Nano Dimension Completes Acquisition of Desktop Metal in Cash Deal
Desktop Metal is now an indirect wholly-owned subsidiary of Nano Dimension after the completion of a merger agreement.
NYSE
68 days, 8 hours ago 
DM
Desktop Metal, INC
Form 4: Desktop Metal CFO Jason Cole Reports Stock Transactions
CFO of Desktop Metal, Jason M. Cole, reports the vesting and subsequent sale of restricted stock units to cover tax obligations.
NYSE
68 days, 8 hours ago 
DM
Desktop Metal, INC
Form 4: Desktop Metal Executive Reports Stock Transactions
Jonah Myerberg, Chief Technology Officer of Desktop Metal, reports the vesting of restricted stock units and subsequent transactions.
NYSE
68 days, 8 hours ago 
DM
Desktop Metal, INC
Form 4: Desktop Metal Executive Thomas Nogueira Reports Stock Transactions
Thomas Nogueira, Chief Operating Officer of Desktop Metal, Inc., reports the vesting of restricted stock units and related tax withholding.
NYSE
72 days, 9 hours ago 
DM
Desktop Metal, INC
Form 4: Farhad Fred Ebrahimi Reports Transactions in Desktop Metal, Inc. (DM)
Farhad Fred Ebrahimi, a director and 10% owner of Desktop Metal, Inc., reports acquiring common stock and derivative securities through various entities at a price of $15 per share.
NYSE
73 days, 9 hours ago 
DM
Desktop Metal, INC
8-K: Desktop Metal Announces Preliminary 2024 Financial Results: Revenue Declines Amid Merger and Litigation
Desktop Metal reports preliminary unaudited financial results for 2024, showing a revenue decrease but improved non-GAAP gross margin and adjusted EBITDA.
Worse than expected
 
NYSE
107 days, 9 hours ago 
DM
Desktop Metal, INC
Form 4: Desktop Metal COO Thomas Nogueira Reports Stock Transactions
Thomas Nogueira, COO of Desktop Metal, Inc., reports the vesting of restricted stock units and associated tax withholding.
NYSE
107 days, 9 hours ago 
DM
Desktop Metal, INC
Form 4: Desktop Metal Executive Reports Stock Transactions
Jonah Myerberg, Chief Technology Officer of Desktop Metal, Inc., reports the vesting of restricted stock units and subsequent tax withholding.
NYSE
114 days, 9 hours ago 
DM
Desktop Metal, INC
Form 4: Desktop Metal Executive Thomas Nogueira Reports Share Disposal for Tax Obligations
Thomas Nogueira, Chief Operating Officer of Desktop Metal, Inc., disposed of 603 shares of Class A Common Stock to cover tax withholding obligations related to vesting restricted stock units.
NYSE
122 days, 9 hours ago 
DM
Desktop Metal, INC
Form 4: Desktop Metal CFO Jason Cole Reports Stock Transactions
Jason Cole, CFO & Treasurer of Desktop Metal, Inc., reports the acquisition and disposal of Class A Common Stock and Restricted Stock Units on February 1, 2025.
DM 
Desktop Metal, INC 
NYSE

8-K: Desktop Metal Announces Preliminary 2024 Financial Results: Revenue Declines Amid Merger and Litigation

Sentiment:
 8-K Filing
 26 March 2025 5:20 PM

Desktop Metal reports preliminary unaudited financial results for 2024, showing a revenue decrease but improved non-GAAP gross margin and adjusted EBITDA.

Worse than expected
  Revenue decreased from $189.7 million to $148.8 million year-over-year. 

Summary
  • Desktop Metal announced preliminary unaudited financial results for the year ended December 31, 2024.
  • Total revenue is expected to be approximately $148.8 million, a decrease from $189.7 million in 2023, impacted by a pending merger and litigation.
  • GAAP gross margin was (16.9)%, compared to (5.3)% in the previous year, while non-GAAP gross margin improved to 30% from 27%.
  • GAAP operating expenses decreased to $185.7 million from $313.1 million in 2023 due to strategic integration and cost optimization initiatives.
  • GAAP net loss decreased to $219.5 million from $323.3 million in the prior year.
  • Adjusted EBITDA improved to $(49.4) million from $(69.1) million in 2023.
  • Cash, cash equivalents, and short-term investments stood at $20.4 million as of December 31, 2024.
Sentiment

Score: 5

Explanation: The sentiment is neutral. While cost-cutting measures have improved some metrics like adjusted EBITDA and operating expenses, revenue has declined, and the company is still operating at a loss. The low cash position is also a concern.

Positives
  • Non-GAAP gross margin improved to 30% from 27% year-over-year.
  • GAAP operating expenses decreased significantly due to cost optimization initiatives.
  • Adjusted EBITDA improved, indicating better operational efficiency.
  • GAAP net loss decreased from $323.3 million to $219.5 million.
Negatives
  • Total revenue decreased from $189.7 million to approximately $148.8 million, impacted by a pending merger and litigation.
  • GAAP gross margin was negative at (16.9)%, although this was impacted by one-time non-cash charges.
  • The company still reported a GAAP net loss of $219.5 million.
Risks
  • The preliminary financial results are unaudited and subject to change.
  • Actual financial results may differ materially from these estimates.
  • Revenue was impacted by the pending merger and litigation, which could continue to affect future performance.
  • The company's cash position is relatively low at $20.4 million.
Future Outlook

The report contains forward-looking statements regarding Desktop Metal's future results of operations, financial position, and the expected benefits of the proposed transaction with Nano Dimension, which are subject to risks and uncertainties.

Industry Context

The additive manufacturing industry is subject to rapid technological change, and Desktop Metal's performance is influenced by the global macroeconomic environment and supply chain disruptions.

Comparison to Industry Standards
  • It is difficult to compare Desktop Metal's results directly to industry standards without a deeper dive into the performance of specific competitors like 3D Systems, Stratasys, and Velo3D.
  • These companies also face challenges related to market adoption, technological advancements, and macroeconomic conditions.
  • Benchmarking against these peers would require analyzing their revenue growth, gross margins, and EBITDA performance in the same period.
Stakeholder Impact
  • Shareholders may be concerned about the revenue decline and continued net losses.
  • Employees may be affected by ongoing cost optimization initiatives.
  • Customers may experience uncertainty due to the pending merger and litigation.
Key Dates
  • December 31, 2023: End of fiscal year 2023, used for comparative financial data.
  • December 31, 2024: End of fiscal year 2024, the period for which preliminary results are reported.
  • March 26, 2025: Date of the 8-K filing and announcement of preliminary 2024 financial results.
Keywords
financial results, Desktop Metal, preliminary results, GAAP, non-GAAP, revenue, EBITDA, gross margin, net loss, merger, litigation
DM 
Desktop Metal, INC 
NYSE
Sector: TBD
 
Filings with Classifications
Worse than expected
26 March 2025 5:20 PM
8-K Filing
  • Revenue decreased from $189.7 million to $148.8 million year-over-year.
Worse than expected
31 October 2024 7:00 AM
Quarterly Report
  • The company's revenue decreased by 15% year-over-year.
  • The company reported a net loss of $35.4 million for the quarter and $191.0 million for the first nine months.
  • The company's gross margin, while improved, is still relatively low at 9%.
Capital raise
31 October 2024 7:00 AM
Quarterly Report
  • The company may need to raise additional capital through arrangements with Nano or from other sources, including equity and debt financings.
  • The company has a multi-draw term loan credit facility with Nano for up to $20 million, available after January 7, 2025.
  • The company may need to issue additional shares of capital stock or offer debt or other equity securities if the merger is not completed.
Worse than expected
23 September 2024 4:24 PM
Proxy Statement
  • The company warns of potential dilutive financings or bankruptcy if the merger fails.
  • Desktop Metal expects to run out of cash by the end of the first quarter of 2025 if the merger is not approved.
Capital raise
13 September 2024 4:02 PM
Proxy Statement
  • The document mentions that if the merger is not approved, Desktop Metal may need to undertake financings.
  • These financings may be severely dilutive to stockholders.
Worse than expected
13 September 2024 4:02 PM
Proxy Statement
  • The company expects to run out of cash by the end of the first quarter 2025 if the merger is not approved.
  • The company may need to undertake financings that may be severely dilutive to stockholders if the merger is not approved.
  • There is a risk of bankruptcy if the merger is not approved.
Worse than expected
6 September 2024 4:38 PM
Proxy Statement
  • Desktop Metal expects to run out of cash by the end of the first quarter of 2025 if the merger is not approved.
Capital raise
15 August 2024 7:00 AM
Definitive Proxy Statement
  • The merger agreement includes a provision for a multi-draw term loan credit facility (Bridge Loan Facility) from Nano to Desktop Metal, up to $20 million, to provide working capital and liquidity.
Worse than expected
31 July 2024 4:15 PM
Earnings Conference Call Transcript
  • The company's Q2 2024 revenue was down compared to the previous year.
  • The company's non-GAAP gross margins were down compared to the previous year.
  • The company's adjusted EBITDA was negative.
Capital raise
30 July 2024 4:53 PM
Quarterly Report
  • The company plans to raise additional capital through a combination of potential options, including equity and debt financings.
  • Nano Dimension agreed to provide a multi-draw term loan credit facility in an aggregate principal amount not to exceed $20.0 million, subject to certain conditions.
Worse than expected
30 July 2024 4:53 PM
Quarterly Report
  • The company's revenue decreased by 27% compared to the same quarter last year.
  • The company's gross margin was -83%, indicating significant losses on sales.
  • The company's net loss increased significantly compared to the same quarter last year.
Worse than expected
30 July 2024 4:36 PM
Quarterly Report
  • Revenue decreased from $53.3 million to $38.9 million compared to the same quarter last year.
  • The company reported a net loss of $(103.4) million.
Worse than expected
30 July 2024 4:35 PM
Quarterly Report
  • The company's revenue decreased significantly year-over-year.
  • The company reported a substantial net loss, primarily due to one-time non-cash charges.
  • The company's GAAP gross margin was negative, indicating poor profitability.
Worse than expected
3 July 2024 4:24 PM
Merger Announcement
  • The combined company expects negative cash flow for the next six to eight quarters.
Delay expected
3 July 2024 4:24 PM
Merger Announcement
  • The transaction is expected to close at the end of the year, but based on delays, maybe a few months later.
Worse than expected
3 July 2024 7:32 AM
Merger Announcement
  • The final purchase price is subject to downward adjustments based on transaction expenses and potential draws on a loan facility, which could reduce the value of the deal for Desktop Metal shareholders.
Capital raise
3 July 2024 7:32 AM
Merger Announcement
  • Nano Dimension has committed to providing Desktop Metal with a $20 million secured loan facility if the closing of the transaction extends into 2025.
  • The purchase price may be adjusted based on the amount drawn from the loan facility prior to closing.
Delay expected
3 July 2024 7:32 AM
Merger Announcement
  • The closing of the transaction is expected in the fourth quarter of 2024, but is subject to customary closing conditions, including regulatory approvals, which could cause delays.
Capital raise
9 May 2024 6:02 AM
Quarterly Report
  • The company entered into an Open Market Sale Agreement with Cantor Fitzgerald & Co. to sell shares of common stock for an aggregate offering price of up to $75.0 million.
  • The company may need to further increase its capital resources by issuing additional shares of its capital stock or offering debt or other equity securities.
Worse than expected
9 May 2024 6:02 AM
Quarterly Report
  • The company's revenue decreased by 2% year-over-year, indicating worse than expected sales performance.
  • The company reported a gross loss of $2.2 million, indicating worse than expected profitability.
  • The company's net loss of $52.1 million was significant, indicating worse than expected financial results.
Better than expected
9 May 2024 6:00 AM
Quarterly Report
  • The company's adjusted EBITDA improved by 44% year-over-year, indicating better than expected cost management.
  • Non-GAAP operating expenses decreased for nine consecutive quarters, showing better than expected cost control.
  • Cash consumption decreased by 47% year-over-year, demonstrating better than expected cash management.
Capital raise
23 April 2024 7:15 AM
Proxy Statement
  • The company may offer common and preferred stock, debt securities, warrants, and units of up to $250.0 million in the aggregate under a shelf registration statement.
  • The company may sell shares of its Class A common stock having aggregate sales proceeds of up to $75.0 million pursuant to an at the market offering program.
  • The company intends to raise capital through equity or debt financing to fund its current operations.
Worse than expected
23 April 2024 7:15 AM
Proxy Statement
  • The company needs to implement a reverse stock split to regain compliance with the NYSE minimum bid price requirement, indicating that the share price has fallen below acceptable levels.
Capital raise
15 March 2024 4:12 PM
Annual Results
  • The company may need to further increase its capital resources by issuing additional shares of its capital stock or offering debt or other equity securities.
  • The company may not be able to obtain additional financing on terms favorable to it, if at all.
Worse than expected
15 March 2024 4:12 PM
Annual Results
  • The company experienced a net loss of $323.3 million in 2023, which is worse than the previous year.
  • The company's revenue decreased by 9% in 2023 compared to 2022.
  • The company's gross profit decreased by $25.2 million in 2023 compared to 2022.
Better than expected
15 March 2024 7:00 AM
Quarterly Report
  • The company's net loss significantly decreased year-over-year, indicating improved financial performance.
  • Adjusted EBITDA showed a substantial improvement, reaching the company's strongest quarterly performance to date.
  • Non-GAAP gross margins improved significantly year-over-year.
Worse than expected
24 January 2024 8:05 AM
Strategic Business Review
  • The company is implementing a significant workforce reduction and restructuring plan, indicating that the current financial performance is worse than expected.
  • The company is facing a downturn in the additive manufacturing industry and a softer demand environment, which are contributing to the need for these cost-cutting measures.

Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.