DM - Desktop Metal reports misses Q1 top and bottom consensus; reaffirms FY23 outlook

2023-05-10 16:12:07 ET

• Desktop Metal press release ( NYSE: DM ): Q1 GAAP EPS of -$0.16 misses by $0.05 .
• Revenue of $41.32M (-5.5% Y/Y) misses by $7.36M .
• Cost reduction plan delivered significant year-over-year improvements to adjusted EBITDA and operating cash flow in first quarter 2023.
• Combined $100 million in annualized savings from cost reduction plans remain on-track in order to reduce expense structure, expand margins, and drive to profitability.
• Reaffirming full year 2023 guidance of revenue between $210 to $260 million vs. consensus of $237.55M, and adjusted EBITDA between $(50) to $(25) million, with expectation to achieve adjusted EBITDA breakeven before year end 2023.

For further details see: