Home Industry Desktop Metal misses sales expectations in the third quarter of 2023

Desktop Metal misses sales expectations in the third quarter of 2023

The US 3D printer manufacturer Desktop Metal has presented weaker-than-expected figures for the third quarter. Turnover fell compared to the same period last year. However, according to company boss Ric Fulop, there were also positive developments.

According to Desktop Metal, turnover in the third quarter fell to 42.8 million dollars compared to 47.1 million dollars a year ago. The company cites fewer sales and a focus on higher-margin products as the reasons for this. The net loss amounted to 46.4 million dollars.

Nevertheless, Fulop sees clear progress. The announced cost savings have been achieved earlier than planned. There have also been improvements in the gross margin and operating cash flow. Desktop Metal now expects to break even on an EBITDA basis in the fourth quarter.

For the year as a whole, Desktop Metal has revised its sales forecast to between 187 and 207 million dollars, compared with the previous range of 260 to 300 million dollars. A loss of between 70 and 50 million dollars is expected for the operating result. Despite the weaker figures, the company remains confident, according to CEO Fulop.

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