Desktop Metal Announces Second Quarter 2024 Financial Results


DESKTOP METAL, INC. CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (UNAUDITED) (in thousands, except share amounts)


	Three Months Ended June 30, 2024
											Accumulated
											Other
	Common Stock				Additional						Comprehensive			Total
	Voting				Paid‑in			Accumulated			(Loss)			Stockholders’
	Shares		Amount		Capital			Deficit			Income			Equity
BALANCE— April 1, 2024	32,970,519		$	4	$	1,917,535		$	(1,684,323	)	$	(35,878	)	$	197,338
Fractional shares redeemed for cash in lieu of reverse stock split	(1,338	)		—		(7	)		—			—			(7	)
Vesting of restricted stock units	234,110			—		—			—			—			—
Repurchase of shares for employee tax withholdings	(6,586	)		—		(47	)		—			—			(47	)
Stock‑based compensation expense	—			—		6,497			—			—			6,497
Net loss	—			—		—			(103,440	)		—			(103,440	)
Other comprehensive loss	—			—		—			—			(500	)		(500	)
BALANCE—June 30, 2024	33,196,705		$	4	$	1,923,978		$	(1,787,763	)	$	(36,378	)	$	99,841


	Six Months Ended June 30, 2024
											Accumulated
											Other
	Common Stock				Additional						Comprehensive			Total
	Voting				Paid‑in			Accumulated			(Loss)			Stockholders’
	Shares		Amount		Capital			Deficit			Income			Equity
BALANCE—January 1, 2024	32,527,167		$	4	$	1,908,533		$	(1,632,225	)	$	(34,660	)	$	241,652
Fractional shares redeemed for cash in lieu of reverse stock split	(1,338	)		—		(7	)		—			—			(7	)
Vesting of restricted Common Stock	574			—		—			—			—			—
Vesting of restricted stock units	730,477			—		—			—			—			—
Repurchase of shares for employee tax withholdings	(60,175	)		—		(375	)		—			—			(375	)
Issuance of common stock related to share-based liability awards	—			—		1,997			—			—			1,997
Stock‑based compensation expense	—			—		13,830			—			—			13,830
Net loss	—			—		—			(155,538	)		—			(155,538	)
Other comprehensive loss	—			—		—			—			(1,718	)		(1,718	)
BALANCE—June 30, 2024	33,196,705		$	4	$	1,923,978		$	(1,787,763	)	$	(36,378	)	$	99,841


	Three Months Ended June 30, 2023
											Accumulated
											Other
	Common Stock				Additional						Comprehensive			Total
	Voting				Paid‑in			Accumulated			(Loss)			Stockholders’
	Shares		Amount		Capital			Deficit			Income			Equity
BALANCE—April 1, 2023	32,040,139		$	3	$	1,883,793		$	(1,361,595	)	$	(36,630	)	$	485,571
Exercise of Common Stock options	47,223			—		560			—			—			560
Vesting of restricted Common Stock	5,021			—		—			—			—			—
Vesting of restricted stock units	126,662			—		—			—			—			—
Repurchase of shares for employee tax withholdings	(505	)		—		(11	)		—			—			(11	)
Issuance of Common Stock related to settlement of contingent consideration	44,479			—		797			—			—			797
Stock‑based compensation expense	—			—		8,438			—			—			8,438
Net loss	—			—		—			(49,728	)		—			(49,728	)
Other comprehensive income (loss)	—			—		—			—			(1,168	)		(1,168	)
BALANCE—June 30, 2023	32,263,019		$	3	$	1,893,577		$	(1,411,323	)	$	(37,798	)	$	444,459


	Six Months Ended June 30, 2023
											Accumulated
											Other
	Common Stock				Additional						Comprehensive			Total
	Voting				Paid‑in			Accumulated			(Loss)			Stockholders’
	Shares		Amount		Capital			Deficit			Income			Equity
BALANCE—January 1, 2023	31,813,343		$	3	$	1,874,821		$	(1,308,954	)	$	(38,368	)	$	527,502
Exercise of Common Stock options	96,811			—		1,157			—			—			1,157
Vesting of restricted Common Stock	7,559			—		—			—			—			—
Vesting of restricted stock units	307,504			—		—			—			—			—
Repurchase of shares for employee tax withholdings	(6,677	)		—		(109	)		—			—			(109	)
Issuance of Common Stock related to settlement of contingent consideration	44,479					797									797
Stock‑based compensation expense	—			—		16,911			—			—			16,911
Net loss	—			—		—			(102,369	)		—			(102,369	)
Other comprehensive income (loss)	—			—		—			—			570			570
BALANCE—June 30, 2023	32,263,019		$	3	$	1,893,577		$	(1,411,323	)	$	(37,798	)	$	444,459

See notes to condensed consolidated financial statements.

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 Next Page »