DM - Desktop Metal misses Q4 revenue estimates launches healthcare business

Desktop Metal (DM) reports Q4 results with revenue of $8.4M, below the $9.36M consensus. The $0.57 loss per share for the year might not be comparable to the $0.41 loss consensus.Cash and equivalents totaled $595.4M as of December 31.“The fourth quarter of 2020 was transformative for our Company as we became the only publicly traded pure-play AM 2.0 company,” says CEO Ric Fulop. “We achieved key milestones in our path to driving adoption of additive manufacturing with the global shipments of our Shop System and Production System P-1 solutions. Our acquisition of EnvisionTEC in February strengthens our market position by adding a compelling lineup of production-focused photopolymer printers and over 190 qualified materials to our portfolio."Earnings press releaseDesktop Metal shares are up 1.8% pre-market to $20.84.Separately, the company launches Desktop Health, a new business line focused on dental, orthodontic, and otolaryngology applications.

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Desktop Metal misses Q4 revenue estimates, launches healthcare business