Markforged Holding Corporation ( (MKFG) ) has released its Q3 earnings. Here is a breakdown of the information Markforged Holding Corporation presented to its investors.
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Markforged Holding Corporation is a leader in industrial 3D printing, focusing on strengthening manufacturing resiliency by providing solutions that enable production at the point of need, with a specialization in metal and composite materials. Headquartered in Waltham, Massachusetts, the company serves over 10,000 customers across 70 countries.
In its third quarter of 2024, Markforged reported a modest increase in revenue to $20.5 million, up from $20.1 million in the previous year. The company also highlighted improvements in its gross margin, which rose to 49.0%, and an even higher non-GAAP gross margin of 50.9%. Despite a challenging industrial environment, the launch of their new metal printing capability for the FX10 was well-received, positioning the company for future growth.
Notably, Markforged announced a decrease in operating expenses to $27.6 million from $59.6 million, facilitating a reduction in net losses. The non-GAAP net loss was $9.5 million, showing a significant improvement from the prior year’s $13.8 million loss. The company’s recent settlement in the Continuous Composites litigation and the pending acquisition by Nano Dimension were also key highlights, indicating strategic movements towards strengthening its market position.
Looking forward, the company’s management expressed confidence in continued innovation and the strategic benefits expected from the upcoming acquisition by Nano Dimension. This move is anticipated to enhance Markforged’s product offerings and its financial resilience amid ongoing market challenges.
