Desktop Metal, Inc. specializes in the creation and distribution of advanced additive manufacturing (3D printing) technologies. Its sophisticated solutions are designed for ...
Desktop Metal, Inc. (NYSE: DM) was founded in 2015 and is built around the goal of making metal 3D printing practical at manufacturing scale. Led by CEO Ric Fulop, the company positions itself as an application-driven, end-to-end provider for production-volume additive manufacturing—often described as “Additive Manufacturing 2.0.” While many additive ...Desktop Metal, Inc. (NYSE: DM) was founded in 2015 and is built around the goal of making metal 3D printing practical at manufacturing scale. Led by CEO Ric Fulop, the company positions itself as an application-driven, end-to-end provider for production-volume additive manufacturing—often described as “Additive Manufacturing 2.0.” While many additive vendors focus primarily on printers, Desktop Metal emphasizes a fuller stack: production systems and platform hardware, proprietary materials, and enabling technologies that target predictable throughput and repeatability for industrial use.
On the product side, Desktop Metal’s portfolio includes industrial-grade manufacturing systems such as the Production System and its X-series, designed for high-volume serial production of parts made from metal, ceramic, or composites. The company also offers platforms aimed at different production volumes and use cases—for example, mid-volume binder jetting through the Shop System and other solution lines that support office-friendly or desktop-adjacent workflows. For specialized markets, it has products tailored for dental applications (Einstein series) and precision manufacturing in settings such as jewelry and chairside applications (including D4K Pro). The company also provides digital casting solutions (e.g., S-Max and S-Print), as well as robotic additive manufacturing (RAM) solutions intended to automate and scale additive processes in production environments.
A key element of the business model is materials and consumables. Desktop Metal supplies proprietary materials associated with its processes—binder jetting compounds, photopolymer resins and related chemistry used in its high-powered light and CDLM technology approach, and other specialized materials including those for bioprinting (such as the 3D-Bioplotter platform). This creates a complementary revenue stream alongside hardware: recurring purchases and process-specific requirements can reduce customer substitution and help standardize production inputs.
From a cost and BOM perspective, the company’s offerings are structured around process efficiency and predictable outcomes. Its stated focus is on balancing speed and quality for metal/ceramic/composite parts, which is intended to improve the economics of production volumes relative to slower prototyping-oriented additive workflows. Desktop Metal’s technology stack also implicitly targets reductions in total manufacturing cost of quality by improving repeatability (through platform technology and governed material systems), which can affect downstream scrap rates and post-processing workload.
Financially, the provided ttm metrics indicate profitability challenges consistent with many early-to-growth manufacturing technology companies: gross profit margin and operating/net margins are negative (e.g., grossProfitMarginTTM and operatingProfitMarginTTM are negative), and free cash flow is also negative in the snapshot. Liquidity ratios such as the current ratio appear above 1 in the provided data (currentRatioTTM ~3.08), suggesting a relatively stronger short-term balance-sheet position than the immediate profitability profile might indicate, though cash conversion can still be strained in capital-intensive equipment businesses.
Key people include Ric Fulop as CEO and co-founder, with notable leadership recognized for technical and manufacturing expertise (and other founding-team members/technical leadership referenced in public sources). Overall, Desktop Metal’s “make it real” positioning reflects a strategic emphasis on industrial adoption—supporting manufacturers with end-to-end systems, materials, and application-driven solutions designed to fit real production constraints across healthcare, industrial manufacturing, aerospace/automotive supply chains, and R&D.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$189.7M
-9.2%
-6.5%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-323.3M
+56.3%
+65.7%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
-5.3%
-173.8%
+110.5%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-170.4%
-52.9%
+64.4%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-170.4%
+51.9%
+63.4%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-117.8M
+39.0%
+21.9%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-62.1%
+32.8%
+16.5%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
59.4%
+130.0%
+36.5%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
3.08x
-23.6%
-9.7%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Greetings, and welcome to Desktop Metal Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. I will now -- I will now turn over the call.
Michael Jordan: Good morning, and thank you for joining today's call. With me today are Ric Fulop, Founder and CEO of Desktop Metal; and Jason Cole, CFO of Desktop Metal. Please note, our financial results press release and presentation slides referred to on this call are available under the Events & Presentations section of our Investor Relations website. This call is also being webcast live with a link at the same site. The webcast and accompanying slides will be available for replay for 12 months following the call. The content of today's call is the property of Desktop Metal. It cannot be reproduced or transcribed without our prior consent. Before we begin, I'll refer you to our safe harbor disclaimer on slide 3 of the presentation and in the financial results press release. As a reminder, today's call will include forward-looking statements. These forward-looking statements reflect desktop metals views and expectations only as of today, July 31, and actual results may vary materially based on a number of risks and uncertainties. For more information about the risks that may impact Desktop Metals business and financial results, please refer to the Risk Factors section in the company's Form 10-K and Form 10-Qs, in addition to the company's audit filings with the SEC. We assume no obligation to update or revise the forward-looking statements. Additionally, during this presentation and following Q&A session, we may refer to our results on a non-GAAP basis. Non-GAAP measures are intended to supplement but not substitute for performance measures calculated in accordance with GAAP. Our financial results release contains the financial and other quantitative information to be discussed today as well as the reconciliation of the GAAP to non-GAAP measures. I'll now turn the call over to Ric.
Ric Fulop: Good morning, everyone, and welcome to Desktop Metals Second Quarter 2024 Earnings Call. I'd like to use today's call to address the most significant development of our company. The proposed business combination with Nano Dimension. This decision wasn't made lightly. And I'd like to walk you through our rationale and benefits we anticipate from this merger. Since the beginning of 2022, Desktop Metal has worked tirelessly to align our cost structure with macroeconomic realities. Making hard decisions about our business, we have reduced our non-GAAP operating expenses by 48% since the first quarter of 2022, while meaningfully strengthening our non-GAAP gross margins. By the end of the first quarter, we had delivered nine quarters of OpEx reduction and brought our cash burn down dramatically. We have strategically …
