DESKTOP METAL, INC. |
||||||
CONSOLIDATED BALANCE SHEETS |
||||||
(in thousands, except share and per share amounts) |
||||||
|
|
December 31, |
||||
|
|
2023 |
|
2022 |
||
Assets |
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
83,845 |
|
$ |
76,291 |
Current portion of restricted cash |
|
|
233 |
|
|
4,510 |
Short‑term investments |
|
|
625 |
|
|
108,243 |
Accounts receivable |
|
|
37,690 |
|
|
38,481 |
Inventory |
|
|
82,639 |
|
|
91,736 |
Prepaid expenses and other current assets |
|
|
11,105 |
|
|
17,155 |
Total current assets |
|
|
216,137 |
|
|
336,416 |
Restricted cash, net of current portion |
|
|
612 |
|
|
1,112 |
Property and equipment, net |
|
|
35,840 |
|
|
56,271 |
Goodwill |
|
|
— |
|
|
112,955 |
Intangible assets, net |
|
|
168,259 |
|
|
219,830 |
| Other noncurrent assets |
|
|
37,153 |
|
|
27,763 |
| Total Assets |
|
$ |
458,001 |
|
$ |
754,347 |
| Liabilities and Stockholders’ Equity |
|
|
|
|
|
|
| Current liabilities: |
|
|
|
|
|
|
| Accounts payable |
|
$ |
18,190 |
|
$ |
25,105 |
| Customer deposits |
|
|
5,356 |
|
|
11,526 |
| Current portion of lease liability |
|
|
7,404 |
|
|
5,730 |
| Accrued expenses and other current liabilities |
|
|
27,085 |
|
|
26,723 |
| Current portion of deferred revenue |
|
|
11,739 |
|
|
13,719 |
| Current portion of long‑term debt, net of deferred financing costs |
|
|
330 |
|
|
584 |
| Total current liabilities |
|
|
70,104 |
|
|
83,387 |
| Long-term debt, net of current portion |
|
|
89 |
|
|
311 |
| Convertible notes |
|
|
112,565 |
|
|
111,834 |
| Lease liability, net of current portion |
|
|
23,566 |
|
|
17,860 |
| Deferred revenue, net of current portion |
|
|
3,696 |
|
|
3,664 |
| Deferred tax liability |
|
|
3,523 |
|
|
8,430 |
| Other noncurrent liabilities |
|
|
2,806 |
|
|
1,359 |
| Total liabilities |
|
|
216,349 |
|
|
226,845 |
| Commitments and Contingencies (Note 17) |
|
|
|
|
|
|
| Stockholders’ Equity |
|
|
|
|
|
|
| Preferred Stock, $0.0001 par value—authorized, 50,000,000 shares; no shares issued and outstanding as of December 31, 2023 and December 31, 2022, respectively |
|
|
— |
|
|
— |
| Common Stock, $0.0001 par value—500,000,000 shares authorized; 325,277,419 and 318,235,106 shares issued as of December 31, 2023 and December 31, 2022, respectively, 325,271,670 and 318,133,434 shares outstanding as of December 31, 2023 and December 31, 2022, respectively |
|
|
33 |
|
|
32 |
| Additional paid‑in capital |
|
|
1,908,504 |
|
|
1,874,792 |
| Accumulated deficit |
|
|
(1,632,225) |
|
|
(1,308,954) |
| Accumulated other comprehensive loss |
|
|
(34,660) |
|
|
(38,368) |
| Total Stockholders’ Equity |
|
|
241,652 |
|
|
527,502 |
| Total Liabilities and Stockholders’ Equity |
|
$ |
458,001 |
|
$ |
754,347 |
See notes to consolidated financial statements.
