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- Desktop Metal Inc DM reported fourth-quarter FY21 revenue of $56.7 million, beating the consensus of $49.58 million. Revenue improved 123% sequentially and up 577% Y/Y.
- The increase was attributable to broad-based growth across all products and technologies, mainly organic and metal offerings.
- Q4 gross margin was 22%, and adjusted gross margin was 31%, a sequential improvement of 460 bps.
- Q4 net loss stood at $(71.2) million, including $10 million in transaction costs and $8.3 million of changes to the fair value of investments.
- Adjusted EBITDA loss expanded to $(25.7) million compared to $(18.55) million in 4Q20.
- The company held cash and equivalents of $271.7 million as of December 31, 2021. Net cash used in operating activities totaled $155.05 million, compared to $80.56 million a year ago.
- FY22 Outlook: Desktop Metal expects revenue of ~$260 million, representing 131% growth from 2021. It expects an Adjusted EBITDA of approximately $(90) million.
- Price Action: DM shares are trading higher by 13% at $4.00 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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