DM - Why Is Desktop Metal Stock Gaining Today? | Benzinga
Desktop Metal Inc (NYSE:DM) reported a fourth-quarter fiscal 2023 revenue decline of 13.7% year-over-year to $52.30 million, beating the consensus of $50.83 million.
Desktop Metal’s net loss contracted to $(174.53) million, including $110.5 million of goodwill impairment, from $(312.35) million a year ago. Adjusted net loss narrowed to $(10.9) million from $(24.01) million prior year.
The company’s adjusted gross margin was 34.05%, up from 24.3% YoY, with a 21.1% increase to $17.81 million.
Adjusted EBITDA loss contracted to $(9.19) million for the quarter, from $(21.11) million a year ago.
Adjusted ...