DM - Desktop Metal stock gains on record Q2 revenue; reaffirms full year outlook

• Desktop Metal ( NYSE: DM ) shares gained ~9% pre-market on Tuesday after the additive manufacturing tech firm reported record revenue for second quarter and reaffirmed full year 2022 guidance.
• Late Monday, Desktop Metal ( DM ) reported record revenue of $57.7M for the quarter that grew 32% sequentially from first quarter 2022 and 204% from second quarter 2021. The growth was attributed to strength from metals platform and contributions from acquisitions.
• Non-GAAP gross margin of 26.7% expanded over 170 basis points from second quarter 2021. However, net loss widened to $297.3M primarily due to a non-cash goodwill impairment charge of $229.5M. Adjusted EBITDA came at -$27.5M vs. -$24.45M in the year-ago quarter.
• Desktop Metal ( DM ) reiterated its full year 2022 guidance of ~$260M ( consensus : $248.57M) for revenue and -$90M for adjusted EBITDA.
• Take a look at the firm's earnings call transcript here

For further details see: