Desktop Metal Announces First Quarter 2022 Financial Results

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(UNAUDITED)
(in thousands)

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

March 31,

 

 

2022

 

2021

Net loss

 

$

(69,944)

 

$

(59,108)

Other comprehensive (loss) income, net of taxes:

 

 

 

 

 

 

Unrealized gain (loss) on available-for-sale marketable securities, net

 

 

12

 

 

1

Foreign currency translation adjustment

 

 

(11,047)

 

 

(13)

Total comprehensive (loss) income, net of taxes of $0

 

$

(80,979)

 

$

(59,120)

DESKTOP METAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(UNAUDITED)
(in thousands, except share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

Common Stock

 

Additional

 

 

 

 

Comprehensive

 

Total

 

 

Voting

 

Paid‑in

 

Accumulated

 

(Loss)

 

Stockholders’

 

 

Shares

 

Amount

 

Capital

 

Deficit

 

Income

 

Equity

BALANCE—January 1, 2022

 

311,473,950

 

$

31

 

$

1,823,344

 

$

(568,611)

 

$

(6,414)

 

$

1,248,350

Exercise of Common Stock options

 

786,693

 

 

 

 

900

 

 

 

 

 

 

900

Vesting of restricted Common Stock

 

84,384

 

 

 

 

 

 

 

 

 

 

Vesting of restricted stock units

 

520,265

 

 

 

 

 

 

 

 

 

 

Repurchase of shares for employee tax withholdings

 

(39,720)

 

 

 

 

(158)

 

 

 

 

 

 

(158)

Issuance of Common Stock for acquisitions

 

 

 

 

 

 

 

 

 

 

 

Stock‑based compensation expense

 

 

 

 

 

9,912

 

 

 

 

 

 

9,912

Vesting of Trine Founder shares

 

 

 

 

 

 

 

 

 

 

 

Exercise of warrants

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

 

 

 

 

 

 

(69,944)

 

 

 

 

(69,944)

Other comprehensive income (loss)

 

 

 

 

 

 

 

 

 

(11,035)

 

 

(11,035)

BALANCE—March 31, 2022

 

312,825,572

 

$

31

 

$

1,833,998

 

$

(638,555)

 

$

(17,449)

 

$

1,178,025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

Common Stock

 

Additional

 

 

 

 

Comprehensive

 

Total

 

 

Voting

 

Paid‑in

 

Accumulated

 

(Loss)

 

Stockholders’

 

 

Shares

 

Amount

 

Capital

 

Deficit

 

Income

 

Equity

BALANCE—January 1, 2021

 

224,626,597

 

$

23

 

$

844,188

 

$

(328,277)

 

$

(9)

 

$

515,925

Exercise of Common Stock options

 

163,228

 

 

 

 

180

 

 

 

 

 

 

180

Vesting of restricted Common Stock

 

56,015

 

 

 

 

 

 

 

 

 

 

Vesting of restricted stock units

 

15,265

 

 

 

 

 

 

 

 

 

 

Repurchase of shares for employee tax withholdings

 

(2,241)

 

 

 

 

(54)

 

 

 

 

 

 

(54)

Issuance of Common Stock for acquisitions

 

5,036,142

 

 

 

 

159,847

 

 

 

 

 

 

159,847

Stock‑based compensation expense

 

 

 

 

 

2,217

 

 

 

 

 

 

2,217

Vesting of Trine Founder shares

 

1,850,938

 

 

 

 

 

 

 

 

 

 

Exercise of warrants

 

20,690,975

 

 

2

 

 

320,567

 

 

 

 

 

 

320,569

Net loss

 

 

 

 

 

 

 

(59,108)

 

 

 

 

(59,108)

Other comprehensive income (loss)

 

 

 

 

 

 

 

 

 

(12)

 

 

(12)

BALANCE—March 31, 2021

 

252,436,919

 

$

25

 

$

1,326,945

 

$

(387,385)

 

$

(21)

 

$

939,564

DESKTOP METAL, INC.

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