Desktop Metal ends the third quarter of 2021 with a net loss of -67 million dollars

Desktop Metal published financial results for Q3 2021 with revenues of $ 25.4 million, an increase of + 34% compared to Q2 2021 and an unbelievable increase of + 907% in the same period of time, a year ago . Unfortunately, this is the end of good news… Revenue results were overshadowed by a worse-than-expected net loss of USD -66.9m. This pushed the US Desktop Metal stock to its lowest level since it went public in December 2020.

The net loss of -66.9 million (or 26 cents per share) increased by 244% compared to the third quarter of 2020, when net losses were -19.5 million (or 12 cents per share). As a result, the company’s shares fell 15% the day after the results were announced and continued to fall throughout the day until stabilizing at $ 6.83 after the market close. In June 2021, Desktop Metal was valued at $ 3 billion, but today the market capitalization is nearly one billion less: $ 2.11 billion.

In order to present the above data in a proper perspective, it should be emphasized that the financial loss is largely the result of numerous acquisitions that took place in the implementation of Desktop Metal this year. In addition to the most “spectacular” acquisitions, such as the EnvisionTEC or ExOne acquisitions, the company purchased several other, smaller and highly specialized companies in various technological areas. The sum of the knowledge and experience of all these entities is, in the long run, to make Desktop Metal a real giant in the 3D printing industry, and not only the “highest priced” one.

Source: www.desktopmetal.com