The US company Markforged, a manufacturer of 3D printers, has announced worse-than-expected financial figures for the third quarter of 2022. According to the press release, sales in the third quarter were lower than in the previous year. The deteriorating macroeconomic conditions are cited as the reason for this.
Turnover in the third quarter amounted to USD 20.1 million, well below the USD 25.2 million in the same period last year. In the final weeks of the quarter, several major orders that had already been considered secured were delayed, explained CEO Shai Terem.
Markforged also expects challenges to persist in the fourth quarter of 2023. In response to the difficult economic situation, the company announced cost reductions, including a reduction in staff of around 10 percent.
Despite the current problems, Terem expressed confidence that Markforged will be able to benefit from the growing demand for distributed manufacturing with its 3D printers in the long term. In particular, the recently introduced new FX10 model is expected to increase competitiveness with its larger build space and faster production.