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Markforged Holding (MKFG)
NYSE:MKFG
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Earnings Data
Report Date
Mar 05, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.33Last Year’s EPS
-$0.57Same Quarter Last Year
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: -31.91%
|Next Earnings Date:Mar 05, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strong execution, product innovation, and cost reduction initiatives, which were positive aspects. However, these were offset by a significant revenue decline, ongoing legal issues, and financial challenges, resulting in a mixed outlook.Company Guidance
During the Q2 2024 earnings call for Markforged Holding Corporation, significant guidance was provided for the remainder of the year. The company announced a $25 million cost reduction initiative aimed at reducing annual operating expenses to approximately $70 million by 2025. Revenue for Q2 2024 was reported at $21.7 million, a decrease from $25.4 million in Q2 2023, primarily due to lower system revenue influenced by tough market conditions with high interest rates. However, gross margins improved to 51.9%, up from 48.3% in the previous year, driven by operational efficiencies and product mix. The company also highlighted an anticipated revenue range of $90 million to $95 million for fiscal year 2024, with expectations of low single-digit quarter-over-quarter growth in Q3 and a return to double-digit year-over-year growth in the second half, propelled by new product sales, particularly the FX10. Furthermore, Markforged expects non-GAAP gross margins to be in the upper range of their previous 48% to 50% guidance and projects a non-GAAP operating loss between $42.5 million and $47 million for the year.Strong Execution and Product Innovation
The company demonstrated strong execution in Q2 and received positive market feedback on new products like FX10, FX20, PX100, and new materials Onyx FR and Vega.
Cost Reduction Initiative
Implementation of a $25 million cost reduction initiative expected to reduce annual operating expenses run rate to approximately $70 million in 2025.
Gross Margin Improvement
Gross margins for Q2 2024 were 51.9%, up 3.6% from the second quarter of 2023, driven by operational efficiencies and product mix.
Successful Product Launch
Successfully shipped the first PX100 in Q2, marking a significant milestone with potential for growth in highly regulated markets such as automotive, medical, aerospace, and luxury goods.
Reduced Operating Expenses
Operating expenses were $23.3 million in Q2 2024, down from $26.6 million in Q2 2023, showing improvement due to ongoing cost reduction efforts.
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MKFG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MKFG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $4.45 | $4.40 | -1.12% |
| Aug 08, 2024 | $2.70 | $2.45 | -9.26% |
| May 08, 2024 | $6.10 | $5.70 | -6.56% |
| Mar 07, 2024 | $6.65 | $7.40 | +11.28% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Markforged Holding (MKFG) report earnings?
Markforged Holding (MKFG) is schdueled to report earning on Mar 05, 2025, TBA Not Confirmed.
What is Markforged Holding (MKFG) earnings time?
Markforged Holding (MKFG) earnings time is at Mar 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MKFG EPS forecast?
MKFG EPS forecast for the fiscal quarter 2024 (Q4) is -$0.33.
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