Markforged Holding Swings to Profit in Q4; Shares Roar 13%

Markforged Holding Corporation (NYSE: MKFG) shares jumped almost 13% during the extended trading session on March 15, after the company delivered a blowout fourth-quarter results and also issued FY2022 revenues guidance well above analysts’ expectations.

The creator of the integrated metal and carbon fiber additive manufacturing platform, The Digital Forge, surpassed its growth targets for both the fourth quarter and full fiscal year. The beat was driven by the organic growth rate of 27% witnessed in 2021.

Q4 Beat

Notably, adjusted earnings of $0.02 per share significantly beat analysts’ expectations of a loss of $0.08 per share. Further, it was an impressive improvement over the previous year’s loss of $0.11 per share.

Further, revenues jumped 9% year-over-year to $26.6 million and also exceeded consensus estimates of $24.51 million.

FY2022 Outlook

Based on robust Q4 results, management provided financial guidance for FY2022.

For FY2022, revenues are forecast to grow 30% year-over-year to be in the range of $114 million to $123 million, higher than the consensus estimate of $120.3 million.

However, the company expects an adjusted loss in the range of $0.28 to $0.31 per share for the full year.

CEO Comments

Markforged CEO, Shai Terem, commented, “Our closely integrated hardware, software and materials are designed to allow our customers to overcome ongoing global supply chain constraints by printing industrial-strength parts for critical applications directly at the point-of-need.”

Analysts Recommendation

The Wall Street community is cautiously optimistic about the stock, with a Moderate Buy consensus rating based on two Buys. The average Markforged Holding stock price projection of $8.25 implies 141.23% upside potential to current levels, at the time of writing.

Bloggers Weigh In

TipRanks data shows that financial blogger opinions are 100% Bullish on MKFG stock, compared to a sector average of 69%.

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