The following is a summary of the Desktop Metal, Inc. (DM) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Desktop Metal reported Q2 2024 revenue of $38.9 million, a decrease from $53.3 million in Q2 2023.

• Non-GAAP gross margins for Q2 2024 were 29.2%, down from 31% in the same period last year.

• Adjusted EBITDA for Q2 2024 improved year-over-year by $1.8 million but remained negative at $13.2 million.

• Cash position at end of Q2 2024 was $46.7 million, with increased outflows due to deal-related spend.

Business Progress:

• Announced a significant business combination with NanoDimension, expected to enhance scale, innovation and financial stability.

• Achieved approximately $150 million in annualized cost savings through continuous operational adjustments since early 2022.

Opportunities:

• The merger with NanoDimension is seen as a strategic move to position the company as a leader in Additive Manufacturing, aiming to create a more robust financial structure and enhance competitiveness.

Risks:

• Persistent challenges in deal closures influenced by the company's financial instability and broader macroeconomic conditions.

• The deal delay or failure could strain the company's financial resources further.

More details: Desktop Metal IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.