Industrial 3D printer manufacturer桌面金属(DM) has reiterated that it expects to generate $260 million over FY 2022, 131.3% more than it managed last year.
桌面金属made its forecast alongside the release of its Q2 2022 results, which show that it generated record-breaking revenue of $57.7 million, over three times the $19.0 million it reported in Q2 2021. On the firm’s earnings call, CEO Ric Fulop credited this growth to the strength of its metal 3D printing offering, contributions from acquisitions and “momentum in blue chip customer adoption.”
“It was a fantastic quarter for our business,” Fulop said on the call. “We saw another quarter of top line strength, recording the highest quarterly revenue in the company’s history. I’m pleased with this quarter’s results. We continue to deliver for our customers, and that is driving excellent financial performance, including revenue growth at scale and margin expansion.”
“我们继续看到蓝色芯片客户在整个行业中采用AM 2.0解决方案的动力。”
台式金属的Q2 2022财务
桌面金属reports its financials across two main divisions: Products and Services, with the former bringing in the majority of its revenue during Q2 2022 at $52.7 million, and the latter generating $5.0 million. These figures represent continued growth, as桌面金属的Q1 2022财务业绩show that it attracted revenue of $43.7 million, meaning that it achieved a 32% sequential improvement.
This growth was driven by the company’s metal product platform, the revenue of its acquired businesses and its success in capturing a share of what Fulop called “attractive opportunities” with “strong secular growth drivers.” Customers such as福特,Nissan,Saudi AramcoandHoneywell在台式金属的呼叫中被称为“大规模生产”中的打印机，在台式金属的呼叫中被淘汰。
Fulop highlighted how he’s particularly excited about the way clientele are “expanding their deployments with new orders beyond their initial systems,” a phenomenon that’s becoming a “meaningful revenue driver” and a barometer for its business.
在成本方面，桌面金属的运营费用在2022年第二季度为4610万美元，尽管这反映了其在第二季度2021年第2季度的支出提高了162％，但它继续寻求节省成本的机会。公司这样做的一种方法是通过已经看到的简化程序桌面金属裁员12％的员工, and is designed to recover $100 million in efficiencies over the next 24 months.
“作为产品投资组合评估的一部分，我们正在收集对产品和开发计划的关注，这些产品和开发计划优先考虑跨高增长应用程序的规模和保证金扩展，” Fulop在电话中解释说。“我们还制定了一项计划，以巩固我们的全球设施足迹，以提高效率并进一步降低我们的固定成本基础。”
| 收入（$） | Q2 2021 | Q2 2022 | Variance ($) | Variance (%) | Q1 2022 | Q2 2022 | Variance ($) | Variance (%) |
| 产品 | 176m | 527m | +35.1m | +199.4 | 39.5m | 527m | +13.2m | +33.4 |
| Services | 14m | 5.0m | +3.6m | +257.1 | 4.2m | 5.0m | +0.8m | +19.0 |
| Total | 19.0m | 5770万 | +38.7m | +203.7 | 43.7m | 5770万 | +14m | +32.0 |
| Cost of Sales | 16.6m | 49.3m | +32.7m | +197.0 | 45m | 49.3m | +4.3m | +9.6 |
| Gross Profit/Loss | +2.4m | +8.4m | +6m | +250.0 | -1.3m | +8.4m | +9.7m | +746.2 |
第二季度的跨行业增长驱动程序
Fulop explained on Desktop Metal’s earnings call that it continued to see “consistent customer adoption across a range of end markets” during Q2 2022. In particular, the CEO said the firm’s offering is gaining traction amongst defense clientele, with the国防物流机构having awarded it a contract worth a potential $15 million, to broaden 3D printing’s adoption across the US Armed Forces.
在电话期间，富洛普还透露，桌面金属的航空航天业务正在增长，例如Lockheed Martin,Rolls-Royce,Northrop Grumman,精密铸件and合并精确产品越来越多地使用其3D打印机作为最终用途零件，并且Collins Aerospacenow deploying them in aircraft interior production.
When it comes to Desktop Metal’s product portfolio, it’s said to have seen strong traction across all its metal 3D printers in Q2 2022, including itsP-50 Production System. In terms of new launches, the company introduced theS-Max Flex 3D printerin April 2022, the lowest priced system to ever feature itsExOnesubsidiary’s technology, which is expected to find adoption in metal casting applications.
TheFreeFoam 3D printing resinalso launched at the end of the quarter, a material capable of expanding to 2-7 times its size without tooling, that was invented by获得的桌面金属子公司Adaptive3D. Elsewhere, Fulop said on the company’s call that it continues to seek out ways of “monetizing its robust IP portfolio” of over 650 patents and applications, to “create new revenue opportunities.”
Finding the path to profitability
Given Desktop Metal’s strong start of the year which has seen revenue growth “trend towards its expectations” and its “strong execution on opportunities,” Fulop reiterated its $260 million FY 2022 guidance on its earnings call. However, the CEO also said the firm is “monitoring the macroeconomic environment,” and suggested its guidance is based on the assumption that current issues don’t worsen.
Fulop reaffirmed Desktop Metal’s EBITDA forecast of -$90 million as well, though he added that “continual sequential improvement” in this metric is expected as it cuts expenses in H2 2022. The company’s CFO James Haley followed this up by highlighting its improved cash position of $255.7 million, boosted by a $115 million convertible notes offering in May, which has given it a “stronger balance sheet.”
“Given the uncertain macro environment that has become more challenging in 2022, we felt that it was prudent to raise a moderate amount of cash,” added Haley. “As a result, Desktop Metal’s cash balance, combined with the impacts from the strategic integration and cost optimization initiative, provides the company with a sufficient runway to reach cash flow breakeven and fund our long-term growth opportunity in AM 2.0.”
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Featured image shows Desktop Metal’s ExOne S-Max Flex 3D printer. Photo via Desktop Metal.
