American manufacturer of industrial 3D printers – Markforged, published financial results for Q2 2023. The company recorded a revenue increase of +5%, reaching USD 25.4 million, compared to USD 24.2 million in the same period of 2022. Gross profit amounted to $12 million, compared to $12.9 million in Q2 2022, and non-GAAP gross profit was $12.3 million, versus $13 million in the prior year. The gross margin ratio decreased by -6% and amounted to 47% compared to 53% in the previous year. Markforged reported a net loss of -$19 million, a significant difference from a net profit of $4.1 million in Q2 2022. At the end of the accounting period, the company had $136 million in cash and cash equivalents.
Markforged boasts of increased demand for “The Digital Forge” system, all the more so that a lower level of investment by industrial companies can be clearly observed. Despite the difficulties in finalizing sales contracts, the company is convinced of real growth prospects in the long term, especially in the context of upcoming new product launches. In the second quarter of 2023, Markforged also concluded a large and important transaction with a global leader in the automotive industry, which decided to invest in its solutions.
Markforged also focuses on building operational efficiency and increasing margins. Continues work on better management of operating costs, which decreased by -11% year-on-year. At the same time, the company plans to introduce several new products in the second half of 2023, which will strengthen the current sales offer and contribute to further revenue growth in 2024.
The distributor of Markforged in Poland is 3D Phoenix. Ask what can improve your business: info@3dphoenix.pl.
Source: www.markforged.com