| MARKFORGED HOLDING CORPORATION | |||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||
| For the Three Months Ended March 31, 2024 and 2023 | |||||||
| (In thousands, except share data and per share data) (Unaudited) | |||||||
| Three Months Ended March 31, | |||||||
| 2024 | 2023 | ||||||
| Revenue | 20,547 | 24,090 | |||||
| Cost of revenue | 10,414 | 12,508 | |||||
| Gross profit | 10,133 | 11,582 | |||||
| Operating expenses | |||||||
| Sales and marketing | 7,844 | 10,576 | |||||
| Research and development | 9,935 | 10,380 | |||||
| General and administrative | 12,165 | 12,128 | |||||
| Litigation judgment | 17,300 | — | |||||
| Total operating expenses | 47,244 | 33,084 | |||||
| Loss from operations | (37,111 | ) | (21,502 | ) | |||
| Change in fair value of derivative liabilities | 31 | 189 | |||||
| Change in fair value of contingent earnout liability | (161 | ) | 808 | ||||
| Other expense, net | (135 | ) | (204 | ) | |||
| Interest expense | (154 | ) | — | ||||
| Interest income | 1,400 | 1,691 | |||||
| Loss before income taxes | (36,130 | ) | (19,018 | ) | |||
| Income tax (benefit) expense | (184 | ) | 1 | ||||
| Net loss | $ | (35,946 | ) | $ | (19,019 | ) | |
| Weighted average shares outstanding - basic and diluted | 199,290,500 | 195,369,245 | |||||
| Net loss per share - basic and diluted | $ | (0.18 | ) | $ | (0.10 | ) | |
Markforged Announces First Quarter 2024 Results
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