Markforged publishes financial results for the third quarter of 2021, noting an over 50% increase in revenues

Markforged, an American manufacturer of industrial 3D printing systems, published financial results for the third quarter of 2021. The company reported revenues of $ 24 million, an increase of 54% compared to $ 15.6 million in the same period last year.

Growth has been recorded in all products and services as well as in all geographic regions where Markforged has distributors. Sales of 3D printers increased by 58.4% year-on-year. Following the announcement of the results, the company’s shares on the New York Stock Exchange surged more than 6%.

In addition to excellent financial results, Markforged can boast an increase in the number of employees to 361 people and the appointment of a new vice president for engineering – former Amazon director John Howard. The company also recorded a gross margin of 57%, down year-on-year from 59.6% in Q3 2020, largely due to high material costs due to disruptions to the global supply chain.

Source: www.markforged.com