DESKTOP METAL, INC.
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Three Months Ended |
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Six Months Ended |
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June 30, |
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June 30, |
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2024 |
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2023 |
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2024 |
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2023 |
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Revenues |
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Products |
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$ |
31,411 |
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$ |
47,398 |
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$ |
67,042 |
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$ |
84,095 |
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Services |
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7,521 |
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5,888 |
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12,490 |
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10,507 |
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Total revenues |
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38,932 |
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53,286 |
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79,532 |
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94,602 |
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| Cost of sales |
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| Products |
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67,209 |
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43,224 |
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106,228 |
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82,115 |
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| Services |
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3,912 |
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3,973 |
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7,699 |
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7,762 |
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| Total cost of sales |
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71,121 |
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47,197 |
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113,927 |
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89,877 |
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| Gross profit (loss) |
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(32,189 |
) |
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6,089 |
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(34,395 |
) |
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4,725 |
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| Operating expenses |
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| Research and development |
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17,143 |
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21,223 |
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36,956 |
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44,367 |
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| Sales and marketing |
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25,802 |
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10,440 |
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36,955 |
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20,047 |
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| General and administrative |
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26,193 |
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22,944 |
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42,410 |
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41,145 |
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| Total operating expenses |
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69,138 |
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54,607 |
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116,321 |
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105,559 |
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| Loss from operations |
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(101,327 |
) |
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(48,518 |
) |
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(150,716 |
) |
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(100,834 |
) |
| Interest expense |
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(1,690 |
) |
|
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(1,109 |
) |
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(3,181 |
) |
|
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(1,920 |
) |
| Interest and other expense, net |
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(78 |
) |
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(78 |
) |
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(1,494 |
) |
|
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(149 |
) |
| Loss before income taxes |
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(103,095 |
) |
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(49,705 |
) |
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(155,391 |
) |
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(102,903 |
) |
| Income tax benefit (expense) |
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(345 |
) |
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$ |
(23 |
) |
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$ |
(147 |
) |
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$ |
534 |
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| Net loss |
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$ |
(103,440 |
) |
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$ |
(49,728 |
) |
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$ |
(155,538 |
) |
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$ |
(102,369 |
) |
| Net loss per share—basic and diluted |
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(3.13 |
) |
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(1.55 |
) |
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(4.73 |
) |
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(3.20 |
) |
| Weighted average shares outstanding, basic and diluted |
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33,085,262 |
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32,165,582 |
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32,898,836 |
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32,038,281 |
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See notes to condensed consolidated financial statements
