Desktop Metal’s Q2 2023 results

Desktop Metal had Q2 2023 revenues of US$53.3 million, down from US $57.7 million in the same period of 2022.

The company said that it has now confirmed its revenue expectation of between US$210 to US$260 million for full year 2023.

“Desktop Metal continues to execute on our cost reduction plans, and with strong growth drivers and customer demand trends entering second half 2023, we are confident in our growth projections, improving margin profile, and adjusted EBITDA commitments,” said Ric Fulop.

The company recently made plans to merge with Stratasys for around US$1.8 billion.

“We believe the combined company’s scale, complementary portfolio with minimal overlap, and enhanced growth and profitability are well-positioned to serve the evolving needs of customers in manufacturing,” Fulop added.