Desktop Metal reports 234% revenue increase in Q1

3D printing company Desktop Metal had revenue of US$11.3 million in Q1 2021, an increase of 35% from Q4 2020 and 234% from Q1 2020.

It also reported a net loss of US$59.1 million and a non-GAAP gross profit of US$0.6 million, an improvement of US$3.3 million from Q1 2020.

‘We are pleased with the strong start to the year,’ said Ric Fulop, CEO. ‘Revenue growth accelerated as we captured strong organic momentum and inorganic opportunities. […] We are well positioned to execute on our long-term growth strategy focused on Additive Manufacturing 2.0 for high-volume, end-use parts.’

The company maintains its expectation of over US$100 million of revenue for 2021 and an annualized revenue run rate of US$160 million.

This story uses material from Desktop Metal, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.