Desktop Metal Reports Record Q4 and FY Revenues

(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.

Highlights include;

•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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