- 2020 IPO: Desktop Metal, Inc. began trading on the NYSE on 12/10/20 via a reverse merger with special purpose acquisition company (SPAC) Trine Acquisition Corp.
3D printing company Desktop Metal (NYSE:DM) delivers a mixed Q1 report.
- Revenue was up 234% on the year to $11.31M, about $1.4M ahead of consensus estimates. The $0.25 loss per share was $0.13 worse than expected.
- Non-GAAP gross profit improved $3.3M on the year to a positive $600,000.
- Cash and equivalents totaled $572.2M at the end of the quarter.
- The full-year outlook includes revenue of over $100M (consensus: $100.7M), exiting the year with an annualized revenue run rate of $160M. Adjusted EBITDA loss is expected at $60-70M.
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