(24/7 MARKET NEWS) – Desktop Metal, Inc. (NYSE: DM) reported, after yesterday’s market close, that it delivered record revenue for fourth quarter and full year 2022, fueled by its differentiated portfolio of AM 2.0 mass production solutions.
•Record fourth quarter revenue of $60.6 million, up 6.8% from the fourth quarter of 2021
•Record full year 2022 revenue of $209.0 million, up 86.0% from 2021
•Cost reduction initiatives on-track to deliver $100 million in aggregate, annualized cost savings in 2023, prioritizing path to profitability
•Initiates full year 2023 revenue guidance of between $210 and $260 million
Desktop Metal is at $1.66 +0.16 (+10.67%), on 70 thousand premarket shares.
Its 52-week trading range is $1.13 to $5.28.
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