Desktop Metal, Inc. (DM) has observed an increase of 4.12% in the premarket. Furthermore, the last trading session closed at $8.26 with a 1.1% increase.
DM acquires Aidro, Adding Critical Capabilities in Design and High-volume Production of Fluid Power Systems Through Additive Manufacturing
DM announced on 9th September 2021 that it has acquired Aidro. Now the Aidro will be able to push their AM skills in hydraulics to the next level. Moreover, the company is ready to adopt additive manufacturing to create new products for our customers. It will use mass-production methods to achieve low part prices and high-performance designs that surpass traditional manufacturing restrictions.
DM Launches 316L Stainless Steel for Manufacturing on the Shop System
DM stated on 24th August 2021 that the Shop SystemTM, the world’s first metal binder jetting system intended for machine shops, has been certified to utilize 316L stainless steel. Users may now employ inexpensive, high-quality binder jetting technology to print end-use components in 316L stainless steel.
Brodsky & Smith Announces an Investigation of The ExOne Company
On 12th August 2021, the law firm of Brodsky & Smith has announced that it is investigating potential claims against The ExOne Company’s Board of Directors. Moreover, ExOne stockholders will get $8.50 in cash and $17.00 in DM common stock for each share of ExOne common stock they possess. Lastly, this will be for a total consideration of $25.50 per share.
Second Quarter 2021 Financial Results
DM releases second-quarter 2021 financial results on 11 August 2021.
- $19.0 million in revenue, 68 percent more from the first quarter of 2020 and 767 percent from the second quarter.
- A net loss of $43.2 million was recorded, which included $10.4 million in in-process research and development assets purchased as part of the Beacon Bio transaction.
- 12 percent GAAP gross margin; 25 percent non-GAAP gross margin, up from 5% in the first quarter of 2021.
- Last but not the least, the company has a strong liquidity position of $514.5 million in cash, cash equivalents, and short-term investments.
Metal Binder Jetting Launched
Desktop Health, a healthcare division of DM announced the addition of a turnkey metal 3D printing solution for dentistry. Moreover, it also launched chrome-cobalt for dental applications on August 10, 2021.
The Shop SystemTM, one of the world’s fastest metal binder jetting systems, is now available for dental laboratories to pre-order, giving improved surface quality and resolution and paving the way for bespoke dental appliances and surgical guides.
