(UNAUDITED)
(in thousands, except per share amounts)
|
|
|
|
|
|
|
|
|
Three Months Ended |
||||
|
|
March 31, |
||||
|
|
2023 |
|
2022 |
||
Revenues |
|
|
|
|
|
|
Products |
|
$ |
36,697 |
|
$ |
39,476 |
Services |
|
|
4,619 |
|
|
4,230 |
Total revenues |
|
|
41,316 |
|
|
43,706 |
Cost of sales |
|
|
|
|
|
|
Products |
|
|
38,891 |
|
|
41,902 |
Services |
|
|
3,789 |
|
|
3,132 |
Total cost of sales |
|
|
42,680 |
|
|
45,034 |
Gross profit (loss) |
|
|
(1,364) |
|
|
(1,328) |
Operating expenses |
|
|
|
|
|
|
Research and development |
|
|
23,144 |
|
|
24,605 |
Sales and marketing |
|
|
9,607 |
|
|
19,689 |
| General and administrative |
|
|
18,202 |
|
|
23,857 |
| Total operating expenses |
|
|
50,953 |
|
|
68,151 |
| Loss from operations |
|
|
(52,317) |
|
|
(69,479) |
| Interest expense |
|
|
(811) |
|
|
32 |
| Interest and other (expense) income, net |
|
|
(71) |
|
|
(1,753) |
| Loss before income taxes |
|
|
(53,199) |
|
|
(71,200) |
| Income tax benefit |
|
|
557 |
|
|
1,256 |
| Net loss |
|
$ |
(52,642) |
|
$ |
(69,944) |
| Net loss per share—basic and diluted |
|
$ |
(0.16) |
|
$ |
(0.22) |
| Weighted average shares outstanding, basic and diluted |
|
|
319,095,656 |
|
|
312,016,627 |
DESKTOP METAL, INC.
