Desktop Metal posted an adjusted loss per share of USD 0.09 in Q4, beating analyst consensus estimates of USD 0.10 loss per share and improving from USD 0.12 loss per share in Q4 2021. 

Q4 revenue stood at USD 60.6 million, growing 6.8% YoY and beating analysts' estimates by 10.5%. 2022 full-year revenue also increased by 86.0% YoY to USD 209 million. Revenue growth was driven by the company’s differentiated portfolio of AM 2.0 mass production solutions and strong execution of operations, despite adverse macro conditions. 

The adjusted gross margin declined to 24.3% in Q4, compared to 31.0% in Q4 2021. The operating loss stood at USD 24 million in Q4. 2022 full-year operating loss worsened to USD 130.7 million from the loss of USD 103.5 million in 2021. 

Desktop Metal guided revenue in 2023 to reach USD 210–260 million, implying growth of 0.5%–24.4% YoY. It also expects to achieve an adjusted negative EBITDA of 25–50 million for 2023 (from a negative EBITDA of USD 118 in 2022).

Analyst QuickTake : During the year, Desktop Metal took several initiatives to expand the business, including a partnership with Siemens to accelerate the adoption of AM 2.0, targeting large-scale manufacturers, introducing upgrades to its Shop System to improve functionality, launching Figur G15 , a platform for metal-sheet forming, and launching a printer targeting dental applications after receiving FDA clearance. Desktop Metal also announced a cost reduction initiative earlier last month to achieve aggregate savings of USD 100 million in 2023. These initiatives would indicate a potential for growth in its future performance if the company is able to materialize on the partnerships and achieve cost reduction targets as planned.